Does It Take Money to Make Money?
“I’m just so tired of working for someone else and making them rich,” lamented my friend Mitch.
“You should start a small business on the side,” I replied. “Then, once it’s big enough, you can quit your job.”
Mitch shook his head glumly. “I don’t have enough money to start my own business, so I’m stuck.”
I get so frustrated when I hear people say that. Now don’t get me wrong. I admit that having substantial cash to begin a new business can be very helpful. But having a lot of money on the line also means you’re taking a bigger risk.
The truth is, money just doesn’t matter all that much when it comes to starting a business. I know from firsthand experience that it’s possible to start a profitable business with virtually nothing.
When I began my entrepreneurial career, I was a college student living at home with my mom. And while there was enough money to pay the bills, there wasn’t much more than that. I had a part-time job, but I was desperate to find a way to make more money. And though I had zero start-up capital, I had no trouble starting a pool service business. Before I knew it, I was earning three times as much as I had been making at my part-time job.
That business made over $100,000 its first year. Since then, I’ve started more than 20 profitable enterprises with under $100 in initial capital. So having minimal capital should never stop you from starting a new business. And it shouldn’t stop you from marketing your business either.
Some people assume that they need to throw around big piles of cash in order to “properly” market a business. But a little creativity can go a lot further than money. Here, for example, is one zero-cost strategy I used…
When I was looking for ways to promote my ballroom dance instruction business, I discovered that most cable companies have a public access channel that’s available to almost anyone in their viewing area. And there’s more to public access TV than nutty shows like “Wayne’s World.” If you create a format for a show that’s informative, it can become quite popular and bring in lots of business.
Keep in mind that cable access is supposed to benefit the community, so the cable companies can be finicky about too much blatant self-promotion. But they do allow you to say who you are or what company you’re with, so people can find you.
One exciting thing about these shows is that the cable company bears the expense of producing them. For my show, I brought on guests and gave them a dance lesson on the air. I would arrange to have my guests meet me at the cable company’s studio, where they had a director, three camera operators, and other stage help to produce the show. And I didn’t have to pay anything for it.
You’d be amazed by how many people watch cable access. I was getting stopped on the street by people who were excited to meet that “dancing guy” from television. The show increased my business by about 25 percent. (I know that because I asked every new client how they heard about me.) And remember, I got this bump without spending a penny.
Not only did I get a steady stream of new clients, but having a television program gave me more credibility as an expert dance instructor. I began including the fact that I hosted a local ballroom dance TV show in my marketing materials, and I mentioned it whenever a prospective client asked about my credentials.
Almost anyone with a business that has a local customer base can take advantage of this strategy. If you’re an attorney, you could have a program where you answer call-in legal questions. If you sell real estate, you could interview guest experts on your local market. If you’re a copywriter or public relations specialist, you could provide information to help small businesses get more out of their advertising budgets. If you’re a marriage counselor, you could work with couples on the air. If you run a restaurant, you could give cooking lessons. The possibilities are endless.
If you’re interested in having your own local cable access show, here are the basic steps:
1. Contact the cable companies in your area to find out about their local access programming.
You’ll want to know about any rules and regulations they have. If there are any costs that you’ll have to cover. When they shoot and how you get a slot on their schedule.
2. Come up with a format that will be entertaining but also have the potential to bring you business.
Interacting with guests on your show is a good way to demonstrate your expertise. And you won’t have any trouble finding local experts who will be excited to appear on television. Getting the exposure will often be enough of a payment for them. Or maybe you can do what I did and give your guests free instruction in your area of expertise in return for their participation.
3. Plan the show.
A half-hour can be a long time if you don’t plan it out well.
When professionals plan a television program, they plot it out visually on a “storyboard.” You can use a similar, though less formal, tool.
Let’s say you will be producing a 30-minute show. Take a piece of paper and draw a horizontal line across it. Mark off five-minute increments, and then write in what the audience will be seeing during each of those increments. The first five minutes will probably be your introduction. The next 10, you might spend interviewing guest number one. The next 10, you might spend with guest number two. And then you’ll give a five-minute closing.
4. Do it!
Most of the cable companies that produce public access programs are used to working with people who aren’t experienced, and they can help you a lot.
Help them by making sure that you and your guests arrive on set early. Have an outline of the show for the director, so he understands what will be shot. Bring any props or other items you might need on the air. And if you’re going to be interviewing your guests, be prepared with a list of questions.
[Ed. Note: Paul Lawrence is the creator of the Quick and Easy Microbusiness System, ETR’s program for starting a business for under $100. Producing your own cable access show is just one method he teaches in his Cheapskate Marketing Program. Check out the details here.]
Cut to the Chase… Dammit!
By Rich Schefren
Do you ever end your day wondering, “Did I really get the important stuff done today?”
Most entrepreneurs, both online and off, often do. But today, I’ve got a quick strategy for you that’ll eradicate any lingering doubts you might possess about your productivity.
In my work coaching many of today’s top Internet marketers, these questions surface frequently:
- How can I stop wasting time?
- How can I get other people to stop wasting my time?
- How can I get more done in less time?
At the end of the day, how can I feel good about what I accomplished?
Do any of these questions sound familiar? If so, you know that increasing productivity means more than just working faster. In fact, it’s about discipline and purpose. Two traits entrepreneurs often struggle with.
Let’s talk about discipline first.
If you find yourself struggling to accomplish what’s on your to-do list, or sticking to your schedule, these tactics often do the trick:
- Take Advantage of a Powerful Part of Your Brain.
Identify your most important outcomes for the next day before you go to bed. You don’t necessarily need to know exactly how you will spend the day when you hit the sack. But, while you’re sleeping, being sure of the results you want gives your subconscious mind a chance to figure out the best ways to get it all done. The next morning, when you plan your schedule for the day, you’ll be surprised by what you come up with. - Include Anchor Activities in Your Schedule.
When planning your schedule for the day, make sure you include anchor activities to keep yourself on track. An anchor activity is a task that will force you to be disciplined.
For example, left to my own devices when I am talking to a friend/peer, the conversation might go on for hours. But if I have an important call to make 30 minutes later, I know I won’t spend longer than 30 minutes on the first call. So the second call is an anchor activity.
Anchor activities ensure that though you might lack discipline right now, it won’t interfere with what you must get done. - Do the Uncomfortable First.
Attack your most important, most intense, and highest leverage activities first. Doing so generates momentum and confidence you can ride the rest of the day. - Look at Yourself and Learn.
At the end of the day, evaluate your performance. If you did a good job, what, specifically, helped you get it done? If you got off track, what happened? And how can you prevent that from happening in the future? This step is frequently neglected… and that’s a shame. Because it’s the fastest path to ever-increasing productivity.
Now, let’s talk about being purposeful…
Far too many entrepreneurs don’t keep their eye on the prize. They go into meetings, make phone calls, talk to staff and contractors… without being clear about the specific outcome they want from each of these activities.
The solution? It’s simple. Get into the habit of asking yourself “What’s my outcome?” every time you transition into a new activity. To make asking this question a habit, put visual reminders where you can’t miss seeing them… until it becomes your default way of operating.
Write it in your daily schedule, on a Post-it on your desk, on an index card that you carry in your briefcase, and on a label on the bottom of your computer monitor. Having so many reminders makes it easy to be consistent when you’re trying to develop a new way of thinking. And anything you do consistently develops into a habit quickly.
So there you have it. You now have a four-part strategy to become more disciplined, more purposeful, and, ultimately, much more productive.
[Ed. Note: Rich Schefren’s businesses have done over $35 million in sales. A renowned business strategist, Rich coaches many of today’s top Internet gurus and service providers on streamlining their businesses while exploding their profits. Learn more at www.StrategicProfits.com.
Becoming more disciplined and more purposeful are two ways to make sure you accomplish your most important goals. You can learn dozens more strategies for achieving your dreams with ETR’s Total Success
Achievement program. Get the details here.]
