DanteLee.com - Daily Blog From Dante Lee

Good News For Business Credit Cardholders

2008-11-20T12:02:00.005-05:00

For those of you who use business credit cards to finance your companies when your cash flow is low, there may be some good news ahead. Tamara E. Holmes, a writer for Black Enterprise Magazine, discusses the Credit Cardholders’ Bill of Rights Act that was recently passed by the House of Representatives. Here are some snippets:

The Credit Cardholders’ Bill of Rights Act, passed in September by the House of Representatives, would restrict certain practices by credit card issuers. Among them, it would prohibit interest rate hikes on existing balances under certain conditions, restrict card issuers from applying credit card payments to debts with the lowest interest rates first, and require banks to mail bills 25 days before the due date.

“Credit cards are now the largest source of financing for small business owners,” says Kyle W. Kempf, senior director of government affairs for the National Small Business Association (NSBA), a Washington, D.C.-based advocate for small businesses. “With business lending drying up, small business owners are going to increasingly turn to their credit cards. It’s important that this vital capital avenue be regulated with some sensibility.”

"The bill must still go before the Senate, but with a new Congress convening in January, it is unlikely to be passed before then unless it’s added to the proposed second stimulus bill," Kempf says. "If that doesn’t happen, Congress will have to start all over again next year."

Under the legislation, card issuers would not be able to raise interest rates unless a promotional rate expires, an index that the rate is based on changes, or if a minimum payment on an existing balance is more than 30 days late. Card issuers would also have to provide written notice of a rate increase at least 45 days before the change goes into effect. "Business owners who depend upon credit would be better able to control their finances without the fear of a sudden payment increase looming," Kempf says. “Having $25,000 [with an interest rate of] 10% go to $25,000 at 30% is significant. It makes it difficult to have a sound business plan.”

The bill’s passage could also help offset another recent practice by the credit card industry that has hurt small businesses. With the credit market tightening, some cardholders have begun reducing the credit limits of customers who they perceive to be at risk of default. “If your credit limit is $10,000 on a small business account and they cut your credit limit in half, what do you do?” says Bill Hardekopf, founder of LowCards.com, a Birmingham, Alabama-based company that tracks credit card rates and practices. “You might need that extra $5,000 that they cut to order inventory or pay your bills while you wait for your cash flow to come in. It can have a devastating effect.”

Kempf is confident that the legislation will pass, either this year or after being re-introduced next year, particularly in light of the current state of the economy. “Small businesses are the only part of the economy that is still actually creating jobs unlike everyone else who is shedding them,” he says. The House passed the bill 312-112.

For the full article, visit:
www.blackenterprise.com/entrepreneurs/entrepreneurs-news/2008/11/10/credit-cardholders-bill-may-lighten-load-for-businesses/

The Ten Most Common Web Site Design Mistakes

2008-11-19T21:19:00.005-05:00

I recently received this email from InternetRetailer.com that convinced me to be at their next conference in 2009. Here's what it said:

You may think your web store looks just great and you have a right to be proud of it. But did you ever sit with a focus group to see what problems they had with it? Did you ever have top web site designers analyze it to find flaws? And have you listened to e-retailers tell you how they’ve vastly improved online sales and conversion rates just by making basic design changes that eliminated the most common web site design faux pas?

You can do all of this and more by attending the second annual Internet Retailer Web Design '09 Conference at the all-new Fontainebleau in Miami Beach on June 19-22, 2009.

Here are just 10 common design mistakes you’ll learn to avoid at IRWD ’09:

1. The Home Page Syndrome
You put most of your design resources on the home page and treat product pages as mere information pages—not marketing opportunities. In the session Designing Landing Pages that Sell, you’ll learn that the sale is really made on the product page.

2. A Design Pet That Bites.
You fall in love with one design function, using all the cool graphics you can, at the expense of meeting other key objectives, such as simplifying site navigation. In the session called One Site, Many Masters: Accommodating Conflicting Design Objectives, you’ll learn how to please your pet while not overlooking basic rules

3. Beware the Overbearing Geek.
You let your IT professional run wild and dictate design parameters that ignore marketing or merchandising needs. In Programmers Are from Mars, Customers Are from Venus, you’ll learn how to let the customer rule the design roost.

4. Conventional Wisdom Can Be Stupid
You adopt generally accepted design standards but fail to adapt them to how your own customers use your web site. In the session How Your Market Defines Your Design, you’ll learn how to gauge what design elements your customers are looking for.

5. Do It Now—Ask Questions Later.
You make a relatively minor change to your design without rigorously testing it. The next thing you know, your online sales are dropping. In the session called The Importance of Testing, you’ll learn how to thoroughly test the impact of design changes.

6. The Don’t Fix What Ain’t Broke Mentality.
Your site is working so well you don’t think about redesigning it until it blows up on you. In the session called Is It Time Yet?, you will learn how to spot telltale signs that your site is overdue for a do over.

7. Who Are You Anyway?
You choose an outside designer to work on your site without checking his/her retail web qualifications or success record. In Choosing the Right Design Partner, you’ll learn how to spot a good retail web site designer before you move forward.

8. The Anything Goes Attitude.
You assume that with broadband web access everywhere, you can load up your site with all kinds of images. In Every Byte Counts, you’ll learn otherwise.

9. It’s Just A Store.
You think web sites are just like stores and need only products neatly arranged. You forget that non-product content is often what attracts people to a site. You will see what we mean at the session What Engages Shoppers Now — And What Will Engage Them Tomorrow.

10. What Are You—Anti-Social?
If your site doesn’t use forums, blogs and reviews, it fails to connect to the community it serves. Retailers in particular miss this, but the session Leveraging Social Technologies Strategically in Your Site Design will set them straight.

To register for the 2009 Internet Retailer Web Design Conference, visit:
www.internetretailer.com/IRWD09/

Dante Lee Featured on Tavis Smiley Radio Show

2008-11-18T12:00:00.008-05:00

I was recently featured on the Tavis Smiley Show on PRI (Public Radio International), live from his studio headquarters in Los Angeles.

During the interview, I spoke about the African American web properties that my partner Will Moss and I have housed under our recently formed Lee Moss Media brand. These include BlackNews.com, BlackHistory.com, HBCUconnect.com, BlackWomenConnect.com, BlackInAmerica.com, and many others.

I elaborated on our mission to create the most relevant and resourceful online experience for African Americans, and our goal to own the largest network of premium African American web properties. I also spoke of ConnectPlatform.com - a new tool that Moss developed to allow African American individuals, groups, and organizations to create their own social networks for free.

To listen to the full interview, visit:
www.tavissmileyradio.com/zen/TSR/guests08/111408/DanteLee_FREEprev.php

About The Tavis Smiley Show
The Tavis Smiley Show is a high-energy exchange of views, information, and insight hosted by Tavis Smiley. The two-hour weekly show offers a unique blend of news and newsmakers in expanded conversations, along with feature reports and regular commentators Cornel West, Connie Rice, J.C. Watts, Omar Wasow, Dr. Ian Smith, Kimberle Williams Crenshaw, Michael Eric Dyson, Antonio Gonzalez and George Johnson. For more details, visit www.tavissmileyradio.com

Obama's Using Web Video - What About You?

2008-11-17T20:37:00.004-05:00

President-elect Barack Obama plans to tape a weekly presidential address not just for radio listeners, as presidents have for years, but for YouTube Internet viewers, too.

The videos are part of his team's effort to build on a campaign model that helped him reach millions of voters online during the presidential race. It's a powerful electronic tool in new digital outreach effort aimed at supporters and others interested in being connected to the activities of the Obama White House.

The videos allow him to bypass the traditional media and reinforce his message online.

So what does this mean for entrepreneurs? It's quite simple - you need to start using web videos for your weekly or monthly entrepreneurial address. Just like Obama, you can post your web videos on YouTube.

Meaningful footage can consist of interviews, video blogging, public speaking engagements, and even Powerpoint presentations.

Don't be intimidated. You can buy a You-Tube friendly video camera from Wal-Mart, Target, or Best Buy. Secondly, it's incredibly easy to post the video on YouTube. You just go to YouTube.com and click on "Upload".

Stop Worrying About The Economy and Start Focusing on Sales

2008-11-14T11:11:00.004-05:00

Retail sales tumbled again in October, posting a record dive as consumers cut back spending on a wide variety of goods ranging from cars to furniture to electronics. Should you be worried as an entrepreneur? Not at all.

Here are some snippets from a column written by Elly Valas, a retail consultant, sales expert, and contributor at DealerScope.com:

Stop worrying about the economy and start focusing on things you can control. If business is flat or down, you’ll have to steal market share from your competitors to stay even or grow. In order to that, you’ll have to be faster, smarter, more creative, and offer better customer service.

A recent study, the Retail Consumer Dissatisfaction Survey, showed the top reasons why customers don’t buy. One third reported they couldn’t find a sales associate; 25 percent were completely ignored by a sales associate, and six said they left because associates were poorly trained.

According to a study conducted by Bain & Company, 80 percent of companies believed they delivered a “superior experience” to their customers. Customers of those companies, however, only felt that 8 percent delivered an exceptional experience. Ouch.

Act like a job applicant. After all, you’re trying to get “hired” as your client’s trusted advisor-and create a resume to convince prospects why they should buy from you.

...List the ways your company differentiates your customer’s buying experience. Don’t forget to tout your [perks]. For example: extended credit terms; delivery, repair, service and installation departments; experienced sales staff; extensive displays; brand-name product selection, [and even free shipping]. You can even list your no lemon policy and your price guarantee.

Don’t hesitate to sell [yourself and/or] your staff as career professionals. Publicize awards you’ve won from trade associations, industry groups or magazines. You only get to be retailer of the year if you know your stuff.

Monitor your customer satisfaction to ensure outstanding service. Tell your clients you’ll be in touch with them to answer any questions that may come up after they’ve used their products for a week or so. Call customers to ensure they are satisfied with the purchase experience. Field any questions they have and ask if they’d buy from you again. Finally, ask them to refer friends.

Customer dissatisfaction happens when there is a disconnect in the experience customers think they’re going to get and what is actually delivered. Warehouse clubs are successful because they deliver on their no-frills, low-price promise. If you’re claiming to be the best, then your [business] needs to shine and your team needs to dress and act like professionals.

Valas also writes that if you own a gas station, remember that when gas is over $4 a gallon, people still buy gas. Your job is to make sure they buy from you and not from your competitors.

For the complete article, visit:
www.dealerscope.com/article/retailers-can-find-good-news-during-bad-economic-times-higher-food-gas-prices-low-consumer-confidence-110840_1.html

Dr. Seuss Sold 222 Million Books

2008-11-12T15:04:00.005-05:00

Theodor Seuss Geisel (aka Dr. Seuss) had his first book rejected 27 times from publishers. Finally in 1937, Vanguard Press gave him a chance. Wikipedia reports that he went on to sell over 222 million books, in 15 different languages. Spirit Magazine claims he sold 600 million books.

Either way, Dr. Seuss is a huge international success story for all entrepreneurs to take note of. To date, of the 100 best-selling books of all time for children, 16 were written by Dr. Seuss.

Again, he was rejected repeatedly by major book publishers who supposedly were the industry experts. They were dead wrong, and lost billions because of it.

What's the lesson for us? Never give up on your ideas or your goals, and never be intimidated by big companies who turn you down. Be persistent and bold, and believe in yourself no matter what. If you get negative feedback, consider it and tweak your ideas as you see fit - but don't ever back down.

Jay-Z's Rocawear Earns Huge Profit Despite Tough Economy

2008-11-08T23:47:00.003-05:00

Though the economy is bad, its still very possible for Black-owned companies to be profitable. The hip-hop industry, for example, continues to flourish.

Bloggers at LiveSteez.com report:

In the midst of an economic turmoil, fashion lovers are still making their way into the stores to purchase some fly gear.

Hip-Hop apparel brand Rocawear has earned over $18.3 million dollars for the third quarter of 2008. The clothing line helped its parent company Iconix Brand Group post a better-than-expected quarterly profit, despite a sluggish economy and a tough U.S. retailing market.

Iconix bought Rocawear from Jay-Z in 2007 for $204 million dollars. According to Iconix CEO Neil Cole, Jay-Z’s direct involvement with Rocawear helped boost the company’s earnings, as did growing sales from the company’s London Fog brand of clothing.

Iconix also owns brands like Candie's, Joe Boxer, Starter and OP, and Rocawear. Rocawear also recently debuted its first fragrance, 9IX Rocawear, as reported by AllHipHop.com.

How To Crush Your Opponent

2008-11-07T20:07:00.006-05:00

First, the Boston Celtics crushed Kobe Bryant and the Los Angeles Lakers when they surprisingly won this year's NBA Championship. Then, Tiger Woods won the 2008 U.S. Open for the third time, giving him more major career wins than any other active golfer.

And most recently, the Illinois Obamas defeated the Arizona McCains to win the White House. Did you see McCain's teary-eyed concession speech? Did you see him driving back home with his wife (with no motorcade)? Crushed!

How can you crush your business opponents? How can you eliminate the competition? How can you run the show? How can you "get yours"?

Here are 5 secrets:

1) Turn Impossible into Possible.

2) Turn Impossible into Possible.

3) Turn Impossible into Possible.

4) Turn Impossible into Possible.

5) Repeat steps 1-4.

Exercising Makes You A Smarter Entrepreneur

2008-11-06T14:10:00.004-05:00

Studies have always shown that exercise is good for your body, but recent findings in neuroscience have shown that it's also good for your brain.

According to Kristin Wehner, a health and wealth consultant coach, "Bodies that exercise regularly stimulate brains to have higher levels of BDNF; brains with higher levels of BDNF have greater capacity for knowledge."

This, in turn, will help you to make better and wiser decisions as an entrepreneur. It will help you better recognize opportunities that will advance your company, and dismiss those that are time wasters.

Wehner continues, "... in the words of John Ratey, Harvard psychiatrist and author of Spark: The Revolutionary Science of Exercise and the Brain, BDNF is like 'Miracle-Gro for your brain'. Studies have shown higher circulating levels of thought-facilitating and mood-stabilizing neurotransmitters (namely, dopamine, serotonin and norepinephrine) within an hour of exercising."

Even more, exercising will help you better deal with the stress that comes with running a business.

"...if you're feeling antsy, frustrated or you're having trouble concentrating, get up from your desk and get moving. It'll help you focus today, and, with enough days of activity strung together, before you know it, you'll be in BDNF city," she says.

For the complete article, visit:
www.entrepreneur.com/worklife/healthandfitness/healthyandwealthycolumnistkristinwehner/article198118.html

Enter To Win The "What Works For Business" Contest

2008-11-05T00:53:00.005-05:00

The "What Works for Business" Contest is all about shifting business focus from what’s wrong with the economy to what businesses can actually do to survive and thrive in 2009.

Today’s challenging business climate calls for innovative problem solving. Have you solved a tough business challenge? All you have to do is tell your story to win.

How does the contest work?
Simply submit a short description of a challenge your business has faced and how the issue was solved. It's that simple.

An expert panel of judges will narrow down the field to 50 finalists. They will evaluate submissions based on:

(1) degree of business challenge;
(2) creativity of the solution; and
(3) practicality/broad applicability of solution to pick the top five finalists in each contest category.

Winners across 10 categories will be determined by popular vote in December 2008.

Who can enter?
If your business is located in the U.S. or Canada, you are eligible to win. Enter by December 3 for a chance to help your bottom line and help others struggling to find business solutions that work!

What are the prizes?
One business will win the grand prize of $10,000 and nine other category winners will receive $2,000 each. All winning businesses will be featured in a national, year-long publicity campaign related to the contest on Business.com and partner sites.

For more details, visit:
http://offers.business.com/content/whatworks?WWContest=105

The Business of Pimping Obama

2008-11-03T20:26:00.010-05:00

By now, you've seen plenty of vendors selling Obama buttons, Obama t-shirts, Obama action figures and yes - even Obama waffles. I've heard that there is an Obama video game coming out, and a site being developed called ObamaLoans.com - "Loans that Obama would approve of."

Isn't it unethical to be pimping his name for profit? Well, it depends on who you talk to. Some will say it is. Others will say that if Obama himself doesn't mind it, then who cares?

Truth be told, Obama doesn't seem to mind. If he did, as a former lawyer, he could have easily taken the necessary legal actions. After the election though, whether he wins or loses, he will still be a huge brand and may just require vendors to buy a license to sell products with his name and face on it.

Many other celebrities including Oprah Winfrey, Michael Jordan, and even Tiger Woods have taken such actions - and rightfully so.

Using Obama's name however, even if you have to pay a licensing fee, may not be a bad idea though. People love his character, and most will buy anything with his name attached to it.

Think about how many Obama shoes you could sell. Or even Obama watches - "Time For Change". Or even Obama piggybanks to keep your "change" in. The list could go on forever.

Become A "Dante Lee" Follower

2008-11-02T13:50:00.006-05:00

On a monthly basis, this blog has nearly 10,000 readers. Many are email and RSS subscribers, others are just casual readers. Please take a moment to be a public follower of this blog. The only step involved is to upload your picture, so that you can show up on the home page of DanteLee.com

To become a public follower for free, click here or look on the side panel to your right and click on "Follow This Blog".

When Turned Down For A Business Loan, Turn To A Business Grant

2008-11-02T01:46:00.002-04:00

If you've applied for a business loan in the last six months, its a strong possibility that you were denied - even if you have good credit. This is because the current economic times have forced banks to be super cautious towards all loan applicants, even if you appear to be responsible.

This is even worse news for minorities who have always found it difficult to obtain business and personal loans from financial institutions. In this regard, many have turned to business grants as a solution. In 2008 alone, $360 billion dollars in grant money was awarded and more than 25% of that was given to individuals who wanted to start or expand a business.

Though many grant programs have been eliminated or reduced by corporations and government agencies, there are still plenty of opportunities available.

For instance, business grants continue to be awarded from the Small Business Administration, the Department of Commerce, the U.S. Agency for International Development, the U.S. Business and Cooperative Programs, and many more. Even companies such as Miller Brewing Company, Ford Motors, and others are offering business grants through various competitions and contests.

The National Institute of Business Grants (www.Business-Grants.com) is encouraging entrepreneurs and small business owners to not give up in their efforts to seek financial support, but just to redirect their search towards business grants.

Helpful Resources Include:

www.Grants.gov - a central storehouse for information on over 1,000 grant programs that provides access to billions in annual awards.

www.Business-Grants.com - a useful reference to learn about frequently asked questions pertaining to business grants.

www.Business.gov/guides/finance/financing/ - a directory of local and national business financing programs.

The McPalin Small Business Plan

2008-10-31T18:59:00.004-04:00

Once again, I'm not endorsing candidates and am not making this a political blog. However, if you wake up Wednesday morning to find that John McCain and Sarah Palin are the new president and vice president of the United States, here's what you can expect for small businesses as reported on JohnMcCain.com:

Lower Energy Costs

John McCain's Lexington Project will address the rising costs of energy that are hurting small businesses. He strongly supports increased domestic exploration of oil and natural gas. This will send a strong signal to oil markets that future supplies will be more plentiful, countering the rise in oil prices. The market for natural gas is less internationally integrated than that of oil - increased domestic production will lower the cost of this key energy source.

The Project will transform electricity generation. John McCain has set the goal of building 45 new nuclear power plants by 2030 - creating 700,000 jobs and providing cheap electricity. It will provide incentives for the production of electricity from renewable sources. Finally, the Lexington Project will devote $2 billion annually to research that will allow the clean use of our most plentiful and low-cost energy source: coal.

Controlling Health Care Costs

John McCain has a comprehensive health care reform plan that will reduce the spiraling cost of health care - a major burden for those small businesses that offer health insurance and a major impediment for those who cannot. He will provide $5,000 for health insurance to every American family - supporting small businesses that seek to offer insurance. John McCain opposes costly mandates or "pay or play" requirements that would raise the financial burden on small business, cut the ability to hire, expand, or raise payrolls.

Taxes: Simpler, Fair, Pro-Growth, And Competitive

Keep Tax Rates Low: Entrepreneurs are at the heart of American innovation, growth and prosperity. Entrepreneurs create the ultimate job security - a new, better opportunity if your current job goes away. Entrepreneurs should not be taxed into submission. John McCain will keep the top tax rate at 35 percent, maintain the 15 percent rates on dividends and capital gains, and phase-out the Alternative Minimum Tax. Small businesses are the heart of job growth; raising taxes on them hurts every worker.

Cut The Corporate Tax Rate From 35 To 25 Percent: A lower corporate tax rate is essential to keeping good jobs in the United States. America was once a low-tax business environment, but as our trade partners lowered their rates, America failed to keep pace. American workers deserve the chance to make fine products here and sell them around the globe.

Allow First-Year Deduction, Or "Expensing", Of Equipment And Technology Investments: American workers need the finest technologies to compete. Expensing of equipment and technology will provide an immediate boost to capital expenditures and reward investments in cutting-edge technologies.

Establish A Permanent Tax Credit Equal To 10 Percent Of Wages Spent On R&D: This reform will greatly simplify the tax code, reward activity in the United States, and make us more competitive with other countries. A permanent credit will provide an incentive to innovate and remove uncertainty. At a time when our companies need to be more competitive, we need to provide a permanent incentive to innovate, and remove the uncertainty now hanging over businesses as they make R&D investment decisions.

Allow Families To Keep Their Businesses: John McCain proposes reducing the Estate Tax rate to 15 percent and permit a generous $10 million exemption.

Opening New Markets

John McCain believes that globalization is an opportunity for American workers today and in the future. Ninety-five percent of the world's customers lie outside our borders and we need to be at the table when the rules for access to those markets are written. To do so, the U.S. should engage in multilateral, regional and bilateral efforts to reduce barriers to trade, level the global playing field and build effective enforcement of global trading rules.

For more details, visit:
www.johnmccain.com/Issues/JobsforAmerica/smallbusiness.htm

10 Ways To Be Like Einstein

2008-10-30T22:17:00.004-04:00

Albert Einstein was a gifted physicist and mathematician who was well known and respected for his intellect and his discoveries. Although he was not necessarily a businessman, his way of thinking can be applied to business.

In a recent article in Entrepreneur Magazine, writer Mike Werling cleverly highlighted 10 traits that entrepreneurs and Einstein should share. Here are the first 5:

1. Imagination. Einstein said, "Imagination is more important than knowledge." The fellas over at Google had all the computer skills and knowledge they needed to have successful careers in some firm's IT department--along with tens of thousands of other techies. What makes Larry Page and Sergey Brin household names is the fact they imagined there was a better way to search the web, and then they created it.

2. Always questioning. "The important thing is not to stop questioning." One of the most important questions an entrepreneur can ask is How can I make it better? Whether you offer a product or a service, improving it is the only way to attract new clients and retain existing ones. While Phil Knight was marketing Nike to the top of the athletic-shoe sales heap, Bill Bowerman tinkered with the shoes' designs and made sure Nike footwear was on the cutting edge of innovation. How can the new model, Bowerman wondered, be better? If Einstein had stopped questioning, we would have been left with his thoughts on relativity instead of an entire theory.

3. Old problems, new ways of thinking. "We can't solve problems by using the same kind of thinking we used when we created them." In the 1940s and '50s, book publishers printed paperback books based solely on hardback titles that had lost momentum; Ian Ballantine created Bantam Books Inc. to do just that. He soon realized he was limiting his profit potential by sticking to the old way of thinking. He decided--much to other publishers' and bookstores' chagrin--to produce original paperback titles for mass-market sales. Sixty years later, both models still exist. And Ballantine likely would have jumped at the chance to offer books electronically.

4. Intuition. "The only real valuable thing is intuition." Einstein worked in theoretical physics; he had to trust his intuition to move forward on anything. Entrepreneurs do the same thing every day. Intuition told Richard Branson the Sex Pistols were worth signing to a fledgling Virgin Records. Intuition told Hugh Hefner men would pay for a magazine filled with high-quality articles and fiction writing that was interspersed with photos of nude women. (Or was it the other way around?) Trusting one's gut led to many of the 20th century's greatest advances.

5. Strong positive attitude. "Weakness of attitude becomes weakness of character." In the early 20th century, greeting cards were given for Christmas and Valentine's Day. In 1915, a few weeks before Cupid's favorite holiday, a warehouse fire destroyed J.C. and Rollie Hall's entire inventory of Valentine's Day cards and left them $17,000 in debt. They borrowed money, purchased an engraving firm, designed two new cards and printed them in time for Christmas. Nearly a century and countless new ideas later, Hallmark Cards sets the industry standard.

To view the full article for the other five traits, visit:
www.entrepreneur.com/greatminds/article197836/index.html

How Do People See You?

2008-10-29T21:55:00.006-04:00

People should see you as a helpful resource, not an aggressive salesman. Instead of being a walking billboard, you should be a walking encyclopedia.

Once you figure this concept out, you will see your sales skyrocket because consumers are motivated to buy from people who know (or seem to know) what they are talking about.

For instance, if you are selling insurance, you should be writing weekly columns and blogs to educate people about financial literacy, wealth, and other related issues.

You should regularly have free seminars for people to attend, and/or free teleseminars for people to call in to.

You should be sitting on a Board of Advisors that is related to your industry, you should be producing free audio/video content on BlogTalkRadio or YouTube, and you should offer some type of free consultation.

Most importantly, you should be the author of at least one book that's related to your expertise. And, you should be writing e-books and giving them away for free.

If people see you as an informational asset, and not just a pushy salesman, they will buy into everything that you're selling. Even more, they'll refer you to all their friends and family members.

Best Airline and Hotel: My Top Picks For Late 2008

2008-10-28T14:09:00.009-04:00

Business travel nowadays can be very stressful, and very expensive. I'm not sure how 2009 will be, but here is my opinion of the best airline and hotel to use when traveling for the rest of 2008:

Southwest Airlines

In most cases, they will have the lowest prices for airfare. They do not penalize you for changing your ticket like all other airlines do. This way if your business plans change, as they often do, you can stay another day without paying an extra $100 fee.

Southwest also won't charge you extra fees to check boxes or bags, and they don't charge you extra to sit in a comfortable seat - like the aisle seat or in an emergency exit row.

Even more valuable is the fact that Southwest does not charge you a fee to utilize your Rapid Rewards points. Almost all other airlines charge you $50-$75 to use your frequent flyer points.

The bad thing about Southwest is that they don't fly to Atlanta or New York - two very common destinations for business travelers. Also, you have to remember to go to Southwest.com to see their fares. You won't find them on Expedia or Orbitz.

Hyatt Hotels

Hyatt is running a "Stay Two Nights, Get One Night Free" special until the end of the year. All you have to do is join their Gold Passport program, and you can participate.

While the requirement of logging two stays before earning the free night may seem like a high hurdle to infrequent travelers, it's a goal that can sometimes be achieved even on a single trip to a single city.

Your free nights can be redeemed at Hyatt hotels in 45 countries. So you can use the free nights for more business travel, or for that vacation you've been wanting to take. I personally have already earned 4 free nights.

The bad thing is that you have to use up your free nights by February 28, 2009. That's a very narrow window of opportunity, but still worth it.

To sign up free for the program, visit:
www.hyatt.com/hyatt/profile/registration/index.jsp

"Support Me, Support Me"

2008-10-24T19:34:00.004-04:00

Is your idea of marketing your business to contact your friends and relatives and pressure them out of guilt to support you?

Sadly, this practice is very common. Entrepreneurs and network marketers don't realize that by doing this, they end up annoying people and making it even less likely for them to respond favorably.

The truth is, your products and services should sell themselves. Potential customers (including family and friends) should be naturally inclined to want to do business with you. If you have resorted to pressuring people out of guilt to buy whatever you're selling, you're probably in the wrong business.

Find or create a business opportunity that is selling something that people can't resist; something that they really want or really need - or both. You should only be selling products and service that people will buy into without you pleading and begging that they do so.

In addition, develop creative marketing and PR campaigns. Find a book on how to make the most of a shoe string advertising budget. Learn about the wonderful benefits of grassroots marketing and guerilla marketing. Experiment with social media tools such as Facebook, online radio services such as BlogTalkRadio, and even video outlets such as YouTube to help promote your business.

Whatever you do, come up with something better than "I need your support...If you care about me, you will buy something."

Obama's Small Business Rescue Plan

2008-10-23T16:44:00.005-04:00

I'm completely neutral to politics, and certainly don't want to turn this into a political blog. However, I thought it was very necessary to report on the proposed small business rescue plan that may affect you if Barack Obama is elected into the white house.

The Washington Post reports:

Barack Obama has proposed a plan of tax cuts and loans for small businesses hurt by the current credit crisis, a temporary program he said is needed to help Main Street and complement what has already been done for Wall Street.

He said the $5 billion Small Business Rescue Plan would be similar to one implemented after the terrorist attacks of Sept. 11, 2001, and would be run through the Small Business Administration.

He told a courthouse crowd that the program would be a way of "extending our hand to the shops and restaurants, the start-ups and small firms that create jobs and make our economy grow. Main Street needs relief and you need it now."

He said the plan would make it easier for private lenders to make small business loans by expanding the SBA's loan guarantee program and eliminating fees for borrowers and lenders.

Obama has previously called for eliminating capital gains taxes on investments in small businesses and start-ups and today proposed an additional temporary business tax incentive through next year to encourage new investments.

For the full article, visit:
http://voices.washingtonpost.com/the-trail/2008/10/10/obama_proposes_small_business.html?hpid=topnews

Black Business Women Vs. Black Business Women

2008-10-22T16:24:00.007-04:00

I find it very interesting and disturbing that African American women are starting successful small businesses at a faster rate than most other demographics, but have the least amount of representation in corporate boardrooms.

Author and radio show host Wendy Johnson's comments, "Have you ever seen a biography or a feature article about a black woman who leads a major corporation? My guess is that you probably haven't, because besides Oprah, who created her own dynasty, do any come readily to mind? Despite the progress of the last 50 years, capable black women continue to be hampered in their career paths."

Johnson's new book, Missing in Action: Black Women in the Boardroom (endorsed by Dr. Cornel West), examines the historical and other influences that have hindered the advancement of black women. The perceptions of a broad cross section of professionals in a variety of organizational settings are examined, and from research and personal experience, Johnson analyzes the factors that continue to prevent black women from rising to the top. The book also offers practical advice to black women who want to break the glass ceiling.

To learn more about Johnson or to purchase her book online, visit www.askdr-wendy.com

Overcome The Four Barriers of Change

2008-10-21T20:26:00.006-04:00

There may be several things that are holding you back from reaching your business goals. More than likely, change is one of them. According to a recent article by John Baker in New Visions Magazine (www.nvmagazine.com), change is the miracle that stimulates growth. Without it, your business does not grow.

The article outlined the following four barriers to change:

1) fear
2) the "what if" game
3) labels and titles (EX: losing your VP title in Corporate America)
4) lack of focus

Fear is undoubtedly the most popular one, although it shouldn't be. If you want to truly call yourself an entrepreneur, you must be able and willing to take risks. Risktakers are not afraid of failure. In fact, they expect it to happen from time to time. This, however, is a good thing.

Think of a baby who is learning to walk. Doing so is risky because they may fall and hurt themselves - and many times they do. However, this doesn't stop them from pursuing the course. That's because babies instinctively realize that its time for change; It's time to stop crawling and start walking. It's time for growth.

Likewise, it's time for a change in you. Whether you're just starting out in business, or have been a business owner for years - It's time to turn things up a notch.

Take some new steps. You will fall, but you will learn from that fall and you will be humbled. After a few falls, you will learn how to take the right steps with the right balance. Then, the growth factor will kick in and escalate you to the next level.

Make Plans To Attend The Black Millionaires Summit

2008-10-20T17:24:00.006-04:00

I won't be able to make the event due to schedule conflicts, but I highly recommend that you make plans to attend. The first annual Black Millionaires Summit is the nation's premier business and wealth building conference for African Americans.

It will be held in Dallas, Texas on the weekend of November 7-9, 2008. Co-founders WNBA Champion, Fran Harris, Ph.D. and bestselling author, Myron Golden conceived the idea after brainstorming about the kind of legacies they wanted to leave their families.

Megapreneur and philanthropist, Russell Simmons is among the millionaire entrepreneurs who will speak. Simmons sold his company Phat Farm for $140 million a few years ago and recently worked with Harris on a fundraiser for his charities. In addition to Simmons, the Summit's All-Star speaker lineup includes Internet marketing expert, Stephen Pierce, network marketing titan Jerry Clark, financial whiz Cheryl Broussard, and short sale real estate pro, Wahid Shakur.

The Black Millionaires Summit targets new and veteran entrepreneurs across all industries, as well as anyone who's interested in learning next-level business, success and wealth strategies. Harris urges people not to fall prey to the negativity in the press.

"If you listen to the media, they'll have you believing that the economy's bad. We disagree. This is the perfect time to make bold moves as an entrepreneur," said Harris, who recently started two more companies with billion-dollar potential. "This is not the time to give in to fear. On one magical weekend -- for the price of a monthly cable bill -- attendees will have an experience that will not only transform their lives but also their bank accounts."

The early bird, basic admission pass for the three-day conference is only $97. For more details and/or to register, click here...

The Power of Three

2008-10-17T23:38:00.004-04:00

Several people have emailed me asking why I don't blog very much about my company's services. The answer is that I try my best not to inundate people with my own sales pitches.

However, its true that sometimes its okay to be very direct about what it is you have to offer. So here's my sales pitch: It's called The Power of Three.

Every entrepreneur should be an author. Every author should be an entrepreneur. And every author and entrepreneur should be a public speaker. Doing so will help you maximize your revenue streams, especially in a time of economic difficulties.

In 2001, I launched Diversity City Media, a multicultural marketing and PR firm. My goals were to help entrepreneurs get publicity for their companies, help authors sell more books, and help public speakers get more speaking engagements. 8 years later, I have helped more than 1,000 clients reach these exact goals.

Just to name a few: My clients include Tavis Smiley, Farrah Gray, Laila Ali, JL King, Magic Johnson, Ella Joyce, Sheila Johnson, Ken Griffey, Sr. and many others.

Here are just three of the services we offer:

1) BlackPR.com - This service is an extensive press release distribution to all the Black newspapers, magazines, TV and radio stations. For only $150, we can distribute your press release to over 850 news outlets and 40,000 journalists and bloggers. For $50 more, we can feature your press release as an article on BlackNews.com - another site we own.

2) BlackExperts.com - This service is an online directory that allows African American experts to profile themselves in front of journalists who are looking for people to interview on their radio and TV shows.

3) BlackSpeakers.com - Similar to BlackExperts.com, this is an online directory that allows African American speakers to profile themselves in front of meeting planners who are looking to hire people to speak at their events. The cost to be listed is $250 a year for both sites.

If you have any questions about any of the services, visit the links above or call my office at (866) 910-6277.

Why Long-Form Sales Letters Work

2008-10-16T14:21:00.005-04:00

Have you ever gone to a web site and realized that its nothing more than a one page sales letter? You scroll down only to see about 50 paragraphs full of rhetorical questions, descriptions, testimonials, subheaders, and postscripts. You may ask yourself - "Why in the world would someone develop their web page like this?"

Joel Comm, an online marketing expert, recently wrote the following article about Internet sales letters in the October 2008 issue of Feed Front Magazine:

For years now, the standard sales tool for Internet marketers has been the long-form sales letter. These can go on for thousands of words, offer testimonial after testimonial, sub-heading after sub-heading and postscript after postscript.

They’re enormous, often repetitive and it’s unlikely that anybody has ever read one all the way through to the end. So why do marketers still use them? The answer is simple: they work.

In one test conducted by the Marketing Experiments Journal in 2004, longform sales letters consistently outperformed short copy, sometimes by as much as 400 percent. In my own experience, I’ve seen upsells and one-time offers produce conversion rates as high as 70 percent.

That doesn’t happen often – but I’ve never had it happen with any other sales technique. The reason they work is that a well-written, long-form sales letter will do two things.

First, it will push every sales point and answer every objection from every member of the audience. That’s something that’s always going to take up a great deal of space. But it’s also why marketers don’t expect the audience to read all of the copy.

The sub-headings are meant to provide easy entry and exit points for readers. Different readers will have different objections and they’ll be persuaded to buy because of different benefits. As readers scan a sales letter, the format of the page will naturally help them to notice the points and arguments that are most likely to persuade them.

Of course, they’ll also miss a lot but that’s important too. The Internet is the ultimate comparison shopping tool. More information about a product and more products that do the same thing are never more than a click or two away.

By providing readers with an overdose of information, marketers keep truly interested buyers on the page. If they can’t even finish reading the information in front of them, they’re less likely to feel a need to look for more information elsewhere.

It’s why a common reaction to a long-form sales letter is “Okay, I get it. How much is it already?” When you can make a lead ask that question, you really should be able to turn them into a buyer.

Long-form sales letters need top quality copy. They need careful testing and tweaking. But when the information and the words are right, they’re also surprisingly effective.

To subscribe FREE to Feed Front Magazine, visit:
www.feedfront.com

Negotiate a Win-Win

2008-10-16T00:31:00.004-04:00

I was skimming through some Donald Trump blog archives, and found this interesting one about negotiation. He writes:

My most successful negotiations have come from bridging the gap of misinformation and miscommunication between buyer and seller. Once I can get to the truth about what the parties are truly motivated by, I can then structure a deal that makes everyone happy. It’s a universal principle that holds true in business, marriage, friendships etc.

If as a businessperson, we would shut our collective mouths for a moment and listen to the other side’s position, we will gain the understanding of what they are thinking and needing to be able to accept our proposal /offer (or whatever). We can then incorporate and address those needs in our offer and thereby eliminate any objections they are having.

The hard part about invoking this strategy is that you have to know what questions to ask and be able to give the other party a comfortable way to express their side openly and honestly. This only works if you truly DO CARE about creating the WIN-WIN. The moment the other party suspects you are using their information to manipulate them, prepare for the negotiations to go cold.

Author Stephen Covey cites this principle as one of the 7 Habits of Highly Successful People - "Seek first to understand and then be understood." Try applying this to all of your relational dealings and see how much more effective you are at getting what you want in life.