This episode of Startup Daddy is my first Video Podcast. I made a video that talks about the different kinds of business plans and the elements that a business plan should contain.

About a month ago, I posted this video to YouTube.  When I compare my statistics for the number of people who listen to this podcast to the number of people who visit this site, there are a lot more of you who listen than visit.  I have absolutely no problem with this.  I am honored that you choose to listen to me at all. So I made the video into a podcast so that the listener only folks can have a look.

The elements of a business plan- Download Video Podcast

So what do you think? Should I do more video?

I’m Lucky.  I’m Old.  At least that’s what my 6 year old told me recently.  I’m 41, so I am lucky enough to have grown up in a world without the internet which helps me appreciate it.  It also helps me factor in how technology is perceived differently among different generations.  I read a blog post recently that got me thinking a lot about this.

Most of us view the way technology has forever changed the way we communicate as a big advancement and a good thing.  Many would argue though, that it has promoted isolation and gives a false sense of community where people stay alone, communicating through tools instead of directly with one another.  Think about it.  How many of the people you connect with on a given day do you actually see face to face? I’ll bet it’s less than 10%. For some with huge followings on Twitter and Facebook, it’s less than 1%.

So what does this mean?

If you are marketing your business or selling anything, it means a lot.  If you are in your twenties and are just entering the workforce you never knew the world before the internet or cellphones and text messaging.  You are probably very comfortable sharing the minutia of your personal life with people you have never met via Twitter and Facebook. I know this is a generalization, but follow me here. It’s important, because it impacts your perspective, your point of reference.

If you are older it matters too.  Maybe even more. You may be charged with managing younger workers and at the very least you will be getting pitched ideas and opportunities from twenty-somethings.  There is a big difference between being aware that there was a world before, and having lived in it.  I know that my grandmother grew up in a world before television, but I have no personal reference about what that experience felt like.  How she learned, received news, was entertained, was so much different than my experience.

Feelings and emotions are everything with sales and marketing.  We make decisions based on emotions not facts.  The single most important factor in marketing is making an emotional connection to your target audience.  Don’t you agree?  If you are not a member of your target audience you need to keep these differences in mind.

Awareness makes us better

If marketing or sales is on your radar, you know that companies are using social media websites like Twitter, Facebook and YouTube to promote their brands, and in some cases carry entire marketing and sales campaigns.  It is very tempting to jump on to these sites because the cost is so low and the payoff can be so big.  But before you consider this for your business or consider pitching this path to your next prospect, make sure to factor in your audience’s point of view.

Be sure you have some specific goals and specific reasons for doing it.  Setting up a Facebook fan page for your business because “everyone is doing it” is probably not going to do much for you.  Your specific reason may be broad like, “Connecting with my customers and prospects on a more personal level,” or “maintaining a listening station so I am aware what people are saying about my business.”  Do some thinking before hand, though.

Are you a forty-something pitching a twenty-something?  The inverse? Are your prospects Millennials or Baby Boomers?  Don’t count out social media for older folks either.  More and more seniors are wading into Facebook, etc., because it is the best and sometimes only way to keep up with the grand kids.  I predict you are going to see this demographic exploding onto the social scene.  Don’t just assume because they are there, they “get it.”

We all need to keep generational differences in mind when we are crafting our message and communicating.   In the end, it’s really about creating and enriching relationships, right?  We want to get the most from our relationships with our friends, employees, bosses, prospects, right?

In this episode of Startup Daddy I have a conversation with Marc Warnke,  author of ONO: Options Not Obligations.   A few months ago Marc popped up on my radar as he was promoting his book.  What made me stop and take notice was his concept of the Family First Entrepreneur.  This has been the way I approach my business since my daughters were born, I just didn’t have a name for it.

We talk about the entrepreneurial mindset, the importance of teaching your children about basic business concepts, and what it takes to be a successful entrepreneur and keep your family your number one priority.

Marc was kind enough to offer a 30% discount when you order his book using promo code RADIO at ONOBook.com

Here are some links to find out more about Marc.

MarcWarnke.com
FamilyFirstEntrepreneur.com

Download the Mp3 for this episode

Last year my wife and I packed up our family and moved to Toronto.  We didn’t have any grand expectations of a better life, we just wanted our kids to grow up near the huge extended family that was waiting for us here.  I have to admit that the transition has been harder for me than I anticipated.  I am a proud, fly the flag on July 4th American, but it wasn’t even the whole living in another country thing.

I have spent a lot of time and energy focusing on why it’s not better here than back in Scottsdale, AZ.  It seems that every other week some group goes on strike.  Off the top of my head these people have gone on strike in the last year: Transit Workers, Garbage Collectors, Parks & Recreation Workers, College Professors, EMS (that’s the paramedics), and the people that issue Drivers Licenses.  Many of these strikes made things very unpleasant (especially the Garbage Collectors).  In the thirteen years we lived in Arizona, I can’t remember anyone going on strike.  Ever.  And don’t get me started on the weather downgrade.

The thing is, I am trying to be more positive about things.  Monday is Canadian Thanksgiving, so I have been thinking about why I am thankful that we moved to Toronto.  I want to stop comparing Scottsdale to Toronto, or thinking about why one is better or worse than the other.  I want to just start concentrating on why it’s great HERE.  Here’s my top ten reasons I’m thankful to be living in Canada.

1. I have to start with family.  Our daughters have family coming out of their ears here.  Not just the Grandparents, Aunts, Uncles and Cousins, but when you factor in the close friends with kids our age we definitely got what we came here for.  We had lots of friends back in Scottsdale, but there is nothing like a holiday with a house full of kids running around screaming and playing to remind you of what’s important.
2. The ROM (Royal Ontario Museum).  My daughter loves this museum, and why wouldn’t she?  Among other things, you can see dinosaurs AND mummies from Egypt, and they have stuff kids can actually touch and play with.
3. The Ontario Science Center.  Awesome science museum and they have a huge machine that makes your hair stand straight out.
4. You can take the subway downtown to see a ballgame, and feel safe.  Miami (where I grew up) and Scottsdale have horrible public transportation so this is new to me.
5. When I took my daughter to a Blue Jays game, they let the kids run the bases after the game.  I have a picture of my daughter at home plate at the Rogers Center.  How cool is that?
6. On the rare occasion when my wife and I venture out, there are some great restaurants here.
7. America may be the “great melting pot” but this is truly the most multicultural city I have lived in, and I have lived in more than a few big cities.  I love that my daughters will grow up surrounded by all of the different cultures that live together here.  Acceptance and tolerance of “other cultures” is not an issue.  The way it seems to me, no one culture here considers any other the “other” culture.
8. The people here for the most part, are just plain nice.  There are A-holes wherever you go, but all in all, a down to earth nice group of folks.
9. I can’t leave out the free health care.  It cost us more than $20,000 out of pocket when we had our second daughter.  Long story short, health insurance was a total nightmare for us.  This is not a little plus, it’s a huge one.
10. Did I mention family?  My wife and kids are the most important forces in my life.  The kids will have a better life here, surrounded by the love and support of their family.  That’s what really matters right?

What about you?  If you live in Canada, you’ve probably been here longer than me. Why are you thankful to call it home?  If you live somewhere else, why are you thankful to be there?

EDIT: Some of you listen to the podcast but don’t visit the site, so I turned this into a video podcast episode. Listen to your customers! I do :)

I made a video about the importance of creating a business plan whether you are just starting your business or looking for funding.  The video talks about the difference between a business plan you create for yourself, just to have a game plan for success, and one that you create to attract partners or investors.

Please give it a look and if you like it, I would appreciate it if you rate it and leave a comment on YouTube

Starting a business can be a scary, intimidating affair if you have never done it before.  The most common question I am asked is, “Where do I start?”  That is why in my very first podcast episode, I talk about the Business Startup Checklist.  It is a list of steps first-time business owners can use to get their new venture off the ground.

It has been a while since I looked at this checklist, so I recently updated it and included some helpful links to take you right to the sources when I reference them.  In the spirit of full disclosure, some of the links (like my recommended website host) are affiliate links, where I get paid if  you make a purchase.

1. Conduct a personal financial checkup. (download)

You need to know where you stand with your finances so you can start your business with a clear understanding of what it will take to support you and your family.  If you are going to start a full-time business, I recommend having enough money in savings for at least 6 months worth of expenses.

2. Do your research: Define your target market and your competition.   Find out if your  market wants what you offer, and if your competition is giving it to them.

Whether your business will be on-line or off, you want to do your homework before you get too deep into things.  You want to know who the biggest players are,  the size of your market (not anyone who might buy, but how many are likely to buy), etc.  Competition is a good thing. It means there is a market there.  Make sure you can differentiate yourself and not just by being cheaper.  Competing solely on price is a recipe for disaster.

3. Pick a name & check if it is available to register in your state and as a web domain on-line.

I have gone into some specifics about naming your business before.

4. Buy the domain name. I recommend GoDaddy.com.

If this will be your only website, your hosting plan will include registering your domain name.  If  you will have a number of websites, then register all of your names with one company, and point the domain to your webhost.

5. Sign up for web hosting.  My recommendation

Without getting too technical, it can take up to 72 hours for your domain name (website address) to point to your website.  It usually only takes a few hours but I have had it take a couple days before.  Once you pick your name and find it is available (or a domain name close enough to your business name) buy it and get your hosting account set up.  Even if it is just a parked page that says Under Construction, it is best to have this taken care of early.

6. Select your office space or work area.

Whether you are working from home, an executive office suite or a stand-alone office, you need to plan where the best place to set up shop is.  Obviously this is more complicated for a retail business that needs a store-front in a prime location than a service business you can run from your home.  Do you have young kids at home?  You better plan for childcare and a place to go when you need to talk on the phone without background noise.

7. Get a mailbox that gives you a physical address (e.g. the UPS Store.)

Mailbox services like the UPS store will give you a physical address (not a P.O. box) and provide services like signing for packages.  This is important if you are working from home.

8. Sign up for a virtual phone/fax number.

These virtual services range in benefits and features and are usually  a fraction of the cost of adding land-lines to your home phone or setting up business lines.  I use a virtual receptionist service that gives me a toll-free number that I can send to voicemail or forward to my cell phone or land line.  You can schedule it to forward to a certain number or play a certain message depending on the time of day or day of the week.  I love the flexibility it gives me and I only have to give people one number. It also acts as a fax.  I get faxes as PDFs and Voicemails as WAV files in my email inbox.

For a little less money a month, you can get a virtual phone/fax number that just goes to voicemail and accepts faxes.  It doesn’t have the forwarding flexibility of the virtual receptionist but it does the job and gets you a dedicated business line cheap.

9. Assemble your team of advisors; i.e. attorney, bookkeeper and CPA, if appropriate.

I have learned the hard way not to try to do everything myself.  DIY works for a lot of things, but there are some things where it is best to use a professional.  The best way to find these professionals is to ask around.  You want people familiar with your industry if possible.  I always try to get recommendations from people I trust, that have had good experiences with accountants, lawyers, etc.  If you can’t get recommendations, go to networking functions like Chamber of Commerce meetings to connect with people face to face.

10. Decide which business entity is right for you: LLC, partnership  or corporation.

I dedicated an episode of the podcast to this subject and there is a great discussion in the comments section that goes into even greater detail.

11. File the paperwork to form your company (business entity).

Use the company I recommend to file the paperwork for you, or do it yourself.  With a little research and legwork you can get what you need at your Secretary of State’s office.  It will save you about $150.

12. If you formed an LLC with partners, create your Operating Agreement.

Not as important for single member LLCs but if you have partners, I highly recommend writing an Operating Agreement.  You may need help with this.   Here is a good article about creating an Operating Agreement.  Here is a source for professional help.  You can find free Operating Agreement templates on-line.

13. Get Your Employer Identification Number (EIN) also known as a Federal Tax Identification Number.

Go to the IRS website and apply on-line for your EIN.  It only takes a few minutes and you can get the number right away.  You need an employer identification number (also called the Federal Tax Identification number) to open a business bank account, file your tax returns and for some state licenses.

14. Open a business checking account, and get a credit card dedicated to the business.

You want to keep your personal and business finances separate.  Even if you are a sole-proprietor (when you do not file an LLC or corporation) you want to open a separate bank account and use a dedicated credit card.  Even though these will be a personal account, keeping everything separate will save you a lot of accounting and legal headaches.

15. Get any licenses, permits, etc.,  from the state, county  or city, that you may need, and check if you need a license to run a business from your home.

The laws and regulations are different in every state and vary greatly by industry.  Your Secretary of State’s office or local SCORE chapter are a great resource to see if you need any special licenses to open your business.

16. Set up your books.  It is VERY important to keep your business records separate from your personal records and that you never mix your personal and business funds.

Most people use QuickBooks for this, but you may want to check with your accountant to see if they have a specific system or software they would like you to use.  You may also want to consider an on-line solution for professional invoicing.

17. Get your website up.

Whether you do it yourself or hire a professional to create your website, it is easier and cheaper than ever to have a great-looking interactive presence on the internet.  I have talked about and recommend using WordPress to create and manage your website.

18. Get business cards.

Not much to say here, and less important if your business is solely on the internet, but if you are going to do any face to face networking (and YOU SHOULD) you need business cards. Here is the company I use - Good quality & cheap.

19. Identify an appropriate networking group, and attend your first function.

Time to use those business cards you just made.  You will seriously increase your chances for success if you get out there and meet some people.  You not only need to meet potential customers, but other business owners like yourself.  I have had very successful businesses that existed solely on referrals. A great place to start is to check your local paper for Chamber of Commerce events.  Another great resource to find networking groups is Meetup.comMeetup.com

20. Prepare a written business plan complete with financial statements.

I am not going to stop talking about this.  You need to write a business plan.  It does not have to be a formal business plan, but you do need to write it down.  Competitive analysis, market analysis, financial planning and forecasting are skills you need.  Whether you use the Business Plan Templates I give away , use software like Business Plan Pro, or buy a book, you really need to do it.

So there are the 20 steps you can take to get your business started.  They are not “easy steps” or “secret steps.”  They are not even everything you need to do to start a business.  They will get you well on your way though.

Download a PDF of the HomeStartupss Startup Checklist

What do you think?  Is there anything I left out?

Nobody makes it on their own. Not in business, not in life.  To be successful you need to have people that teach and inspire you, not just directly but through their actions.  So I am going to start recommending some of the people I think you should know.  These are people that I learn from or inspire me in some way.  I stole this idea from Chris Brogan.  It is something he does with his weekly newsletter, and I think it is a great idea.  I’ll tell you a little about each one, and give you links to connect with them and check them out.  So here are a few of the people I think you should know about, and why.

The first is Chris Brogan (on Twitter:  @chrisbrogan ).   Chris is as close to an expert on Social Media as there can be.  He certainly doesn’t need my help getting his name out there, but since I stole this idea from him I thought I would start with him.   Chris has one of the most visited blogs in the world, and he tapped “his community” to make his new book, Trust Agents, a New York Times Best Seller.  What impresses me most about Chris is his ability to connect in a personal way with SO MANY people.  I started connecting with Chris on Twitter, then I met him in person at Podcamp Toronto.  He has tens of thousands of friends on the social networks, almost 100,000 on Twitter alone, yet he is able to respond and interact in such a personal way.  He is also really funny.

Pam Slim (on Twitter: @pamslim).  Many of you are corporate employees and managers, looking to Escape From Cubicle Nation, and Pam literally wrote the book on the subject.  In her book and on her blog, you will find honest advice about making the transition from corporate employee to entrepreneur.  She is an expert on that.  She is also a fantastic writer and genuinely nice person.  If you’re looking to get a home business started, and if you’re here you probably are, get to know Pam and check out her blog.

Danny Brown (on Twitter: @dannybrown ).  Danny is another person that’s taught me a lot about social media.  He uses his extensive social media skills for good, as the founder of the 12 for 12k Challenge, a unique charity using social media to change the lives of millions.  I love his blog .  He talks not only about the benefits and pitfalls of social media in a useful and specific way, but about the tools that make it possible for small business owners pressed for time, to take part in “the conversation.”

Kathryn Jennex (on Twitter: @northernchick).  I first met Kathryn on Twitter, then in person at Podcamp Toronto. She has worked behind the scenes with some pretty big fish in the on-line pond, and has recently launched her own personal blog.   She is a truly talented writer (she could make a recipe interesting) so I am glad she did.  Kathryn finds and shares some of the most interesting articles and videos online.  You should get to know Kathryn just because she is interesting, but you can learn a lot from her too.

So that’s it for the the first “People You Should Know.”  I interact with them on Twitter and read their blogs and they teach and inspire me every day.  I don’t leave comments as often as I should, but I am changing that.

I have so many more, so I think I’ll do this every week.  Do you have anyone to add?  I’d love for you to share your people you should know with me.

This past Saturday, I went to see Bill Clinton speak at the Canadian National Exhibition (CNE), or as the locals call it, the EX.  Whatever you think of Bill Clinton, and whatever your political views are, he said some things during his speech that every entrepreneur should hear.

Though he attended the funeral for Ted Kennedy earlier that day, he still honored his commitment and flew up to Toronto.  The speech was entitled, Embracing Our Common Humanity, and in it he talked about his Foundation and the admirable things they are doing around the world; dispensing AIDS medicine, and addressing climate change.  Of course, he talked about Health-care Reform.   The things that stick in my mind most though, were some things he said at the end.  He sat down and answered a few questions.  I have no idea where they came from, but in answering the last question he addressed the “young people” in the audience.  He spoke about how he arrived at the decision to go into politics in the first place, and about following your passion.  I’m sure he has told this story thousands of times, but it seemed spontaneous and sincere, and for me, inspiring.

“Try to find something you care about. Most of us love doing what we are best at, but better to do something you care about.”

About how lucky most of us are, he candidly said,

“Keep in mind that if you have any options for what you do in your life, ANY options, you are in a group of not more than one or two percent of all the people who have ever walked across planet earth.”

He’s a much better speaker than I am, so I think you should hear the audio from the last five minutes of Bill Clinton’s speech in his own words.  I apologize for the audio quality.  I recorded it on the spur of the moment with my iPhone.  I cleaned up the recording as well as I could, and it’s only 5 minutes, so you can handle it.  I think you’ll be glad you did.

Picture of Bill Clinton at the CNE by Canadian National Press

Download the Mp3 audio file

Link to the survey for the webinar series

So what do you think?  Are you crafting your business to provide the lifestyle you want?

In this episode of Startup Daddy , I answer questions from YOU.  I really want to help you get your businesses started, and one of the ways I back that up with action is to invite you to send me your questions.  I want this to be a conversation, not a lecture.  A lot of people say that, but I mean it.

You send me your questions via email, leaving comments here, or by responding to my email newsletter.  I read and answer every one of them personally.  So I thought I would make an episode from some of the questions about topics that I am asked about often.  I hope it helps you move your business forward.

Some of the links I refer to in this episode:

Productivity Books I Like:

• Getting Things Done: The Art of Stress-Free Productivity, by David Allen
• Seven Habits of Highly Effective People
• Zen To Done: The Ultimate Simple Productivity System, by Leo Babauta (ebook)

Business Registration Services:
(These are affiliate links- I make a few dollars if you go to LegalZoom from my link, and actually make a purchase)

• Legal Zoom- Trademark Research and Registration Service
• Legal Zoom- LLC Registration Service (Corporation Registration too)

Screen Capture Software:

• Jing- Free
• Camtasia Studio- Paid App with many more features and flexibility.  There is a free trial, though.

DOWNLOAD the Mp3 of this episode.

So how about you?  Do you have a question I can answer to move your business forward?

Not my daughter ↑

My baby is a sales rock star.  It’s next to impossible to say no to her.  Now this isn’t a talent exclusive to my baby, but she reminded me of some very important sales principals this morning, and I want to share them with you.

She kept mom and me up most of the night, and was really cranky this morning.  So basically a typical morning so far.  It’s how she closed that impressed me.

After the hustle and screaming and throwing bananas that takes place on a typical morning, the baby stopped time.  I gave her a kiss goodbye and turned to leave, and she came running back at me saying, “Kissie.”  I know.  She does this a lot.  She’s very cute.  We went back and forth like this a few times, and I ended up leaving in a FAR better mood.  It reminded me that it is the last impression, the last interaction that is the most important.

So what makes my daughter such a sales rock star?

• She gives you her undivided attention every time she speaks to you, and expects the same of you.  She’s never distracted by a Blackberry, or cell phone, or twitter.
• When she wants something, she asks for it directly (Okay, demands it).  No beating around the bush, or subtle hints.
• She is genuinely interested in your happiness.   Seeing you happy makes her happy.
• She is persistent.  Do you think SHE gives up if she doesn’t get a yes right away?
• She knows how to close!  She establishes rapport, asks for the sale, lets you know why it’s in your best interest to give her what she wants, and stops selling when she gets a yes.

There are teachers everywhere if you look for them, and my daughters teach me every day.  I am truly blessed and thankful for such wonderful teachers.

In this episode of the Startup Daddy podcast, I talk about the importance of writing at least a basic business plan, and how to tackle some basic financial statements: Startup Expense Table, Break-even Analysis, and Cash Flow Statement.

When you write a business plan, the process is the juice.  Going through the research and thought necessary to complete the plan is what you get the most out of.  That’s why I give away the business startup tool kit when you sign up for my newsletter.  I want you to do this and I want to make it easier for you to do this.

You need to have a solid grasp on your financials to succeed.  So in this episode I talk about a few of the important financial tables you need to understand- the Startup Expense Table, the Break-even Analysis table and the Cash Flow Statement.

This episode’s Time Saver Quick tip is about Google’s Wonder Wheel- a graphical flow chart of search results that is great for brainstorming.

Download the Mp3 for this episode (right-click link and select “save link as”)

In this episode of the Startup Daddy Podcast, I talk about how to conduct initial market research to determine of there is a market or potential market for a particular product or service.  I also talk about some ways to evaluate an opportunity and some tools I use for market research.

Today’s feature segment is about research.  Specifically market research.  You have an idea, and you need to determine if it will make you money. The first thing you need to do is determine of there is a market for your idea. In other words, PROSPECTS.

I discuss ways to use Google Search, website keyword tools, Twitter, and others,  to determine if there are people looking for what you want to sell.

The websites I talk about in this episode are:

The Google Adwords Keyword Tool

http://search.twitter.com/

Scribd.com

Let me know what you think.  What are some tools you find useful to get a lay of the land for your market?

Download the Mp3 for this episode

There was a weird problem with iTunes where many of you downloaded a file that was silent.  I thought the best thing to do, was to repost the file and give it a whole new record, so iTunes would look at it as a whole new podcast.  This way, if you are subscribed, you will get it as a new episode.  Upside is the people with a bad file get one that works.  Downside is that the people who did not have a problem, will be getting a duplicate.  To those people I sincerely appologize.

In this episode of the StartupDaddy podcast I talk with Sunir Shah, the Chief Handshaker at FreshBooks.com. Freshbooks is an online invoicing tool that allows you to track your time, and send and manage invoices online.

After a long pause between podcast episodes, I am back with this conversation with Sunir.  I do not have any relationship with Freshbooks, I just think they have a great product that I wanted to share with you.  Their service allows you to create professional looking invoices that you can send on or offline, to your clients.

Your clients can pay you by credit card or paypal, and have an interface that allows them to log in and check their balance with you at any time.  It is a big time saver, and they use a pricing model that scales as you grow your business.

Go to the FreshBooks website for more information, to take a product tour or sign up for the service.

I also talk about a project of mine, RecallNewsletter,com

RecallNewsletter.com  is a site I developed that helps you keep up with recall news and alerts, from all of the different government agencies that issue recalls.

Download this episode

Yesterday, I wrote my first post for Dad-O-Matic.  Dad-O-Matic shares opinions, reviews, advice and news for dads.  It is a great site and place for me to write about the overall dad stuff that is not related to my business.

I plan to write a few posts a month, and the first one is The Place “Where Dreams Come True” It is about my two days at Disney World with my Family.  I hope you find it entertaining.

Shakespeare wrote that a rose by any other name would surely smell as sweet.  Is the same thing true of domain names?  What I share with you and teach here, is what I know and what I do.  I have recently had a shift in my thinking that will impact my process, and I want to share it with you.

I came to this whole world of blogging and social media, from an internet marketing point of view.  When I sold my business a few years ago, I started researching internet marketing.  I suspect many of you have done, or are doing the same right now.  I read blogs, listen to podcasts, read books and e-books, and take courses.

One of things I was taught, and I did, was to use a keyword-rich domain name (URL) for your website’s address. Since I did this myself, I advised others to do it.   Another thing I was taught was to use social media to drive traffic to my website.  Blogs, podcasts and sites like Facebook and Twitter, have made a lot of people rich because they have found ways to leverage them into generating leads for their businesses.  I started to explore social media.

A funny thing happened to me when I started using these sites though.  I started following and learning from some of the rock stars of social media, like Chris Brogan, Seth Godin, and Gary Vaynerchuk.  They are all very interesting people and great writers.  They have HUGE followings and very successful websites.  They all just use their names as their URL.

I started to take notice of the domain names of some of the other blogs I read; Duct Tape Marketing, Escape Fom Cubicle Nation, Zen Habits, Mashable.  Not a keyword-rich URL in the bunch.  Just really great content that I and many other people are drawn to.  The more I reflected on this, the more I realized that I had it wrong.  I was taking all of this internet marketing knowledge I had, and plugging in business ideas to utilize it.  While this works, it goes against my core business values, my definite major purpose.  This site, StartupDaddy.com, was redirected to home-based-business-startups.com.  This started to eat at me for some reason.  It started to feel disingenuous somehow.

What I really want to do, and now advise and do myself, is to start from the really great business idea, and use the social media and internet marketing strategies to market your great ideas, your interesting content.  Yes, you need to employ good SEO techniques on your website.  You need good keywords in your title, your description, your content.  But get creative with the domain name.  Make it something people want to remember, something that says something about you.  Maybe your own name.

If you notice now, when you look at your browser bar this site says it’s name- StarupDaddy.com, not the keyword-rich domain name.  Because of some very technical things (like losing every listener I have), it took some doing to fix it, but I feel better about it.  It reflects my new focus on just doing what I do, and not worrying so much about Google, or page rank, or SEO.  Again, these things are important, and need attention, but they are not the most important.

From what I have learned, a keyword rich domain name has little impact on your Google position.  I am sure it is a factor, and helps, but not nearly as much as incoming links from other sites that are linking to you because you offer value.  Spend more time and energy on being interesting.  As Seth Godin would say, be remarkable.

Business is an ever changing environment.  As you learn things you need to be able to accept that you may have been wrong and make a change.  If you acted on my advice to use a keyword-rich domain name, don’t worry.  There is still nothing wrong with it, and it may actually be helping you.  For me though, I felt that when people looked at their web browsers, and they saw home-based-business-startups, it said something to them I did not want to say.  I felt it said I value google rank above my message.  That is why I changed it.  I like the name I chose for this site.  So StartupDaddy.com is now just and only that.  It is not a strategy or revenue stream, it is just me, trying to help dads (and moms too) learn how to start a business while they struggle with the time constraints of starting a family.

One of my favorite things to watch on TV these days is a show called Pinks.  It is a racing show where teams “race for pinks” which means ownership of the car.  For the uninitiated, here is the description from the Speed Channel:
PINKS: LOSE THE RACE, LOSE YOUR RIDE!
Two hot cars. Two proud owners. And it’s winner takes all in PINKS.  Host Rich Christensen travels the country pitting two contestants against one another in this high stakes drag race. The negotiations are heated. The races are real. Emotions run high. And the loser walks home.

Now it’s not just that I love cars.  I do love cars.  I’ve restored a 1967 AMC Rambler Rebel convertible, and most people have never even heard of the car.  It’s not JUST that I love cars.  I also love business.  I love risk, negotiation and come-backs.  One of the things my wife loves is reality TV, and one of the shows she likes to watch is The Apprentice.  The Apprentice is now celebrities, competing for Donald Trump’s approval.  I have to admit that it can be entertaining sometimes, but it is hardly about business.

Seeing famous people argue about the best way to get their friends to donate money to worthy charities is fun, but you’re not going to learn a lot from it.  Seeing two real people, who have built a race car with their own time and money, compete in real time with that very car on the line, can be very educational.  The people on this show are not professional racers.  They are just people who work on cars, and get together at race tracks to race them.  These cars take a lot of time and a lot of money to build, and having that personal stake in the outcome makes the negotiations fun to watch.

The races take part in heats, and each team get a feel for each other and what each car is capable of, with each heat.  The host mediates negotiations between each race, getting a superior car’s team to concede a car length, for example, on the following race, to keep things competitive.  If you are not into cars, and you are still reading this, thanks for bearing with me.   Now to why this show is so awesome, even if you are not into cars.

If you are a student of human nature, and if you are starting a business you had better be, you will love this show.  You get to see how some people never lose faith in their own team, even when they are down,  only to win it all when the other team makes a mistake.   There are always people who believe enough in their own ability and product, that as long as they still have the ability to compete, they know they are still in the game.

You get to see the different way people react to unexpected adversity and challenges.  How some people get creative and solve problems unconventionally while others just can’t get passed the problem occurring. Sometimes this is rewarded with victory, and sometimes it isn’t.

That is another thing I like.  You can just tell that some of the losers are truly defeated, and others know they just had a bad day, and will be back to race another day.  Which would you be?

If you want to compete for the approval of a large successful company, in the hope that they will reward you with a lucrative contract that will change the lifestyle of you and your family, go for it.  There is certainly nothing wrong with that, and many have done this successfully.  Me?  I’ll be here teaching and learning my craft, taking risks and taking my lumps, deserving every win and taking resposibity for every loss.  I like it that way.

In this episode of Start A Business With Startup Daddy, I talk about productivity, and two books that have put me on the path to getting more done each day: Getting Things Done, by David Allen and Zen to Done, by Leo Babauta.

In order to accomplish all I have to in a given day, and still get home to spend time with my girls before bedtime, I need a system that allows me to get a hold of how I spend my time.  I got the help I needed to develop a system that works for me, in these two books.

The Two Books

Getting Things Done: The Art of Stress-Free Productivity, by David Allen

Zen To Done: The Ultimate Simple Productivity System, by Leo Babauta

Here are some other resources I have used to implement GTD, and stay on my path to being more productive:

Productivity Blogs I read:

43 Folders

Black Belt Productivity

Lifehacker

A list of resources from Zen Habits, far greater than I could make up: Massive GTD Resource List

My oldest daughter turned 6 on Friday.  The simple fact that my daughter, my my wife and I have survived for the last six years with our physical and mental well being reasonably intact, is more than an enough reason for a celebration complete with balloons and cake.  However, this day marks another milestone too.  It is the sixth anniversary of my becoming a daddy-preneur.  For last six years I have struggled and rejoiced over the challenges and joys that come with being an entrepreneur and starting a family.  Yes, the challenges have been many and some very large, but I have also experienced more and greater joy than I had previously thought possible.

I thought I was a good negotiator.  I’ve closed huge business deals with nothing short of my financial well-being in the balance, and I’ve bought and sold used cars, and 2 houses.  None of that compares to dealing with a melt-down in the middle of a crowded grocery store, or getting my daughter to eat more broccoli.  Kids don’t need be taught the art of the counter offer, it comes as naturally as breathing.

I thought I’d had some tough encounters with former bosses and important clients.  Then I had the pleasure of talking about money with my wife when neither of us had slept in weeks.  Good times.  I have had some pretty great moments in my life, but when I made my daughter belly laugh for the first time I saw the true definition of joy.

I thought I knew what tired meant.  I don’t need to expand on this.

We are friends with couples that have kids close in age to ours, and some of the other dads have their own businesses too.  There is a bond we share.  We have a mostly unspoken understanding of each other’s sacrifice and it’s payoff.  I see the other daddy-preneurs at the school events during work hours, the birthday parties, at McDonald’s on a Sunday morning.  I’m sure they would all agree how amazing it is that we have created  this for ourselves.

I know there are a lot of mommies out there that do the same thing, and more.  I have nothing but respect for you, because in many ways, you have a more challenging path.  I know this is true of my wife.  But not being a mom, I can’t speak to that.  You could ask my wife, but she’d probably have to get back to you because she is very busy.

I won’t say how lucky we are, because this does not happen by shear luck.  You have to work at it.  When you set out to create a lifestyle that provides enough time to enjoy and participate in your children’s lives and enough income, you are setting a pretty high bar.  So far I have been able to do that, and I do not take any of it for granted.  I appreciate every day I get to have this, because you never know what tomorrow brings.

Parenting is a challenge, at least good parenting is.  Starting and running a business is a challenge.  Doing both at the same time, might be the definition of insanity.  I could not imagine having it any other way.

So I am attending Podcamp Toronto this weekend.  It has been great to finally meet some other people who are interested in podcasting and social media, in person.  The learning sessions have been interesting for the most part, but it has been the interaction with other like-minded people, face to face, that I have enjoyed most.  It’s also great to meet some people I chat with on Twitter in person.  That’s not what this is about though.

During Chris Brogan’s presentation (which was hilarious by the way) he mentioned a woman named Glenda Watson Hyatt. Glenda has Cerebral Palsy.  She calls herself the left thumbed blogger, because the only thing she can use to type is her left thumb.  I looked her up and started following her on twitter.  She has over 5700 updates (messages she has sent) which makes her an extremely active twitterer.  So this woman with Cerebral Palsy, that keeps her in a wheel chair, and limits her to typing with her left thumb, which is her chosen way of communicating because her speech is so impaired, can manage to actively message people, write a blog with a page rank of 5 (which is awesome by the way) and a BOOK!  Yes, she wrote a book.  With her left thumb.

Chris held up her book and asked if anyone was inspired by this.  Uh, yeah.  I raised my hand (as did most of the people in the room) and he handed me the book. I opened it, and there on the title page, written in pen, was GWH.  It was signed!  Can you imagine?  She can only type with her left thumb, and she signed the copy Chris had.  How many of these books had she placed her initials on? I imagine, hundreds.  It’s called, I’ll Do It Myself and she sells it at her website.  I’m looking forward to reading it.

How many of us complain about the things in our lives that are hard, or annoying?  I sure do.  My wife and I haven’t had a good, uninterrupted night sleep in a year and a half, so I can be kind of cranky sometimes.  I’m a wimp.  I have it easy.  And so do you.  It’s easy to find excuses NOT to do the things we know we need to do to be successful.  I don’t have the time, I’m not a good writer, I don’t know how to build a website, I hate sales, I’m not a good speaker.  Shut up.

I hope you get some inspiration from Glenda’s story.  There are hundreds or thousands of Glenda’s out there though.  People, that despite some thing that would stop most of us in our tracks, achieve great things.  I’m not saying don’t feel sorry for yourself sometimes.  We’re human.  Of course we’re going to do that.  I’m saying treat that like the indulgence that it is.  A sometimes food. Like ice cream.

We all have a thing or a story.  I am going to try to remember that there is always someone with a bigger thing, a worse story.  I am going to try to feel my pain, my self-pity, then get over it.  I am going to try to stop complaining and do something.  People are drawn to positive do-ers.  I’m going to try harder to be one them.  You?

I was inspired by my Twitter friend Michelle, to think about a question I ask myself that helps me focus and prioritize.  I came to realize that it is the most common question I ask myself: “So what?” Now I don’t mean, “Who Cares?”, I mean WHY would someone care?  Why is that thought, answer, feature, benefit- important? So what? keeps away the BS.  If I think I have a great business idea, I think, “So what?” It helps me focus on who it will help, do they need it, and more importantly, do they want it?

If I am preparing a presentation, I picture a little person on my shoulder that asks, “So what?” after everything I say. This keeps me focused on benefits not features. It helps me remember that you are never selling vacuum cleaners, you are selling a clean house.  It keeps beasts like The Best and The Greatest at bay.

So what? is also a great filter for the data you get bombarded with on a daily basis. If it gets through my So what? filter, it deserves my attention.

So what? can be a big help in prioritizing your projects and tasks.  The biggest So whats are usually your most important projects.  Need help prioritizing tasks?  Ask yourself, “So what if this doesn’t get done?”  The critical things will become clear pretty quick.

Want to reduce your stress?  The next time you are stressing over a detail, or arguing with someone, try So what. WARNING: When arguing, don’t SAY, “So what?”  just think it.

So what can save you a ton of time.  It can improve your presentation skills, your sales, your stress level and most of your life.  If you don’t agree with me, then well, you know …

In this episode of Start A Business With Startup Daddy I talk about Affilaite Marketing.  It is a type of home based business that offers flexible hours and location, as well as leaving plenty of time in your day to spend with your family or to pursue other interests.

I explain what affiliate marketing is, the different types of affiliate programs, where to find and apply for affiliate programs, and where to go to learn more about it.

Places I mention in this podcast episode:

• Warrior Forum
• Amazon.com Associate Program
• Clickbank.com
• CommissionJunction.com
• Google Sync

Download the Mp3 file

You can’t own your ideas.  Sorry, but it’s true.  You can patent an invention, copyright a work of art, trademark a name or phrase, but you can’t own an idea.  Once you put it out there, it’s out there.  Remember this when you start a business.  Sure, you can use a non-disclosure agreement (NDA) to protect yourself when talking about an idea with a vendor or adviser, but once you get your business up and going, you open yourself up to competition that will copy your idea.  If it is a good idea, you can count on this.  100%.

I was reminded about this on my vacation, when I had a bad experience trying to buy some clothes for my daughters.  I was in a store that sold cute tye-died clothes for kids. I was without my wife and since I would not be able to return them later, I didn’t dare make a purchase without approval.  A factor of success is knowing what you do and don’t do well, and for me, clothes and fashion are definitely an outsource to wife thing.  What I usually do in this situation, is take pictures with my phone, send them to her, and she gives the thumbs up or down. This is a very efficient process for us.

So when I started taking pictures, I was approached by one of the owners of the store who confronted me rudely and told me I couldn’t take pictures in her store.  I explained what I was doing, and that I was trying to make some purchases.  I wanted to spend some money there!  She replied that people were taking pictures of their designs and copying them, and selling them on the internet.  So they don’t let people take pictures anymore.  She became more rude, and I smiled, and said that I have worked as hard as I was willing, to spend money in her store.  I thanked her for her time, and left.  The funny thing is that she probably felt a sense of accomplishment for having stopped a usurper, instead of regret for losing money.

Talk about doesn’t get it.  You can’t stop people from stealing your ideas.  You need to implement them better.  You need to be online, if that is where people are looking for what you have (and they are!)  If you establish an online presence and have strong brand awareness, when people rip off your ideas they will be seen as rip-offs.  If someone can improve on your product, offer easier delivery or distribution, or even just market better than you, then they will steal your market share.  Deal with it.

You can’t stop it anymore than you can stop the rain, but you can prepare for it, just the same.  Learn about marketing.  Stay up on the new trends in communication and networking like facebook and twitter.  The only way to maintain market dominance is to earn it.  Having the idea is never enough.  You have to implement it better than your competitors.  If someone is ripping you off don’t stand for it, tell the world about!  But don’t just say you’re being ripped off, tell everyone why you are better.  Always look for ways to improve.

Sometimes a little competition can expand your market and if you are truly better, and you market well, those newcomers to your market will find you.  Don’t waste too much energy trying to protect your great idea.  Spend it trying it improve it.

I want to know what you think.  What part of your product or service is so unique it can’t be duplicated?  How do you stand apart from the competition?

I have come to realize that there is a huge difference between a father and a daddy.  I had a father, I’m trying to be a daddy.  So just for fun, here are a few differences between a father and a daddy:

A father changes a diaper by yelling, “Hon, the baby needs to be changed!”
A daddy can change a diaper while talking on the phone, and go right back to eating a sandwich.

A father still watches 2-3 football games every Sunday, in their entirety, LIVE!
A daddy thinks whoever invented TIVO should win the Nobel Prize.

A father looks like a deer in headlights when he hears, “I need to run out, you watch the kids for a while.”
A daddy enjoys being left alone with the kids because he can play with his kids while surfing the web and watching Sports Center.

A father can answer questions about the government and the stock market.
A daddy can also answer, “Who do we ask for help, when we don’t know which way to go?” and “Can We Build it?” (For the fathers, The map and YES, WE CAN!)

To a father, making lunch means opening a can of Spaghetti-Os or frozen pizza.
To a daddy, well this one’s a push.  Forget it.

To a father, a peaceful quiet moment actually requires Quiet and Peacefulness.
To a daddy, a peaceful quiet moment can include kids screaming and the lights and sounds of kids toys that make Times Square look tame, as long as he can sit on the couch and especially if he can watch a few minutes of Sports Center.

A father talks to his kids at dinner and might know the name of their kid’s best friend.
A daddy not only knows his kid’s friends, he knows which ones to stay clear of on the playground, and which one’s parents to stay clear of at birthday parties.

A father thinks the best thing he can do for his family is work hard and make as much money as he can so he can provide a nice home for his family and his children will have everything they need and most of what they want.

A daddy gets that, but he thinks the most important thing he can do for his family is to be present in his children’s lives and participate in forming the way they look at the world.

I’m trying real hard to be a daddy.  I don’t catch every big moment, but I get to see more than most, and that makes me pretty lucky. What about you?  Leave a comment and tell me what you think.

The one time you skip a CYA procedure will be the time that procedure was really needed- guaranteed!  If you downloaded episode 5 of my podcast before today (December 22, 2008), and you listened to the Time Saver Quick-tip, you were probably thinking, “What’s wrong with this guy?”  There were long pauses and heavy sighs, it was a mess.  That’s because it was the one time I skipped a step in my process for publishing and posting my podcast.  And of course, it bit me where I sit.

My basic process for recording a podcast is this. I record the segments in one sitting, then go back and edit them, then assemble them.  Then I listen to the whole thing, and then I post it to the web.  I use an outline of the things I want to talk about, but I don’t use a script.  This means I have a lot of editing to do.  Sometimes I will say something over or in a better more clear way, or sometimes I just have to remove a cough or something.  Hey, you don’t need to hear my Umms, Uhhs, and Coughs.  I have too much respect for your ears and your time for that.  So what happened this time, and why I am I telling you about it?

The What is simple.  I was tired and got lazy.  I was sitting on this interview for two weeks because I was sick, and I really wanted to get it out.  I was still feeling the effects of the cold, so the recording was a mess.  I edited everything but when I assembled the final one, I used the wrong file for the Quick-tip.  I was in a hurry to get it out there, so I didn’t listen to the final file before I posted it.  Stupid.

Luckily, I got some email from some listeners asking me what was wrong.  The questions people were asking ranged from asking if I was angry or frustrated to whether I was having an asthma attack.  The truth is I was just still feeling the cold, and out of breath.  I have fixed the file, but the damage is done.  Half of the listeners of this podcast got the unedited version of the file.  If you are one of them and still reading this, Thanks for sticking with me!!

So why am I telling you all of this?  I want it to be an example of why you need to put CYA (Cover Your Assetts) Procedures in place, and to NEVER deviate from them.  The one time you skip a step, is the time that step will be the most needed.  You forget to backup a file?  You will loose or delete it.  You forget to look at the TO: field before you send that scathing email?  You just hit Reply To All.   Count on it.  Forget to backup your hard drive?  Do you smell smoke?

The point is, you need these things in place for when you ARE tired, or off your game.  You need backups becauses drives DO fail.  It takes a little extra time but it is ALWAYS worth it.  Take the time to determine where the scary parts are in your business process.  Develop a procedure for protecting yourself from failure or embarrassment, and make sure you follow it.  If you don’t, trust me, <heavy breath> <lip smack> you’ll regret it.

I talk about using WordPress to build your website in episode 4 of the podcast.  One of the things that makes WordPress so powerful, is the ability to install plugins to easily add certain functions.  Andy Beal, from Marketing Pilgrim has recently posted a great list of WordPress Plugins that will supercharge your new website.  I am using some of them on this site, and I am going to look into using some of the others he suggests.

One of the things that makes this list so great is that he does a very good job of explaining what each plugin does.  You should definitely check this out:

21 of the Best WordPress Plugins for New Blogs

In this episode of Start A Business With Startup Daddy, I interview Dan Zeidler, an expert in both Individual and Group Health Insurance coverage.  He answers your questions about getting health insurance for you and your family when you are self employed, and getting coverage for you and your employees after you grow your business.  In the Time Saver Quick Tip, I discuss Google Analytics.

I don’t have to tell you how important having health insurance is.  It can be a challenge however, to navigate all of the options and choices available to you and find a health insurance policy that you can afford.  In this interview, Dan shares his insight on choosing a policy that balances having the benefits you need with a premium you can afford.

Some things we talk about in this episode:

HIPAA: Health Insurance Portability and Accountability Act

NAHU: National Association of Health Underwriters

NAIFA: National Association of Insurance and Financial Advisors

HSA: Health Savings Account

Quick Tip:
Google Analytics

You can contact Dan Zeidler at Essential Financial Associates:
dzeidler@efaofaz.com
480-367-1260
www.efaofaz.com

Download the Mp3

In this episode of Start A Business With Startup Daddy, I talk about how you can have a modern, Web 2.0, interactive website for your new business, even if your computer skills are limited to sending email and searching Google.

I discuss free open source software you can use to create your website, as well as the advantages and disadvantages of certain platforms to help you decide which is best for you.

Links to items mentioned in this podcast:

Blogger
TypePad
Wordpress.com (Get a site on THEIR site)

My recommended web host (with 1 click install of Wordpress)

Wordpress.org (The software to install on YOUR SITE manually- NOT 1 click install)

Wordpress Theme Directory
All In One SEO Plugin for Wordpress
Google XML Sitemap Builder for Wordpress (You want the one for Wordpress 2.1 and later)

FileZilla FTP software for Windows or Mac
Cyberduck FTP Software for Mac

Download the Mp3

In this episode of Startup Daddy, I give some tips about setting up your home office and get you started with branding by talking about getting a Business Identity Package for your new business.

Creating a Logo and making sure all of the things that project the image for your company- Logo, Website, Letterhead, Business Cards, etc.) all have the same over all look and feel, are essential in establishing the identity of your business and the foundation of establishing your brand.  In this episode, I reveal a cheap and easy way to get a professional designer to create your logo and all of the other things you will need.

Links to sites I talk about in this podcast:

99 Designs

Elance.com

Download the Mp3

Please take a brief 3 Question Survey about my upcoming Business Startup Course

Have a question or comment?  Please use the form below.

Tomorrow is Halloween, and at our house that is a pretty big deal. My oldest daughter (who would be proud to tell you she is five and three quarters) is totally into it. That makes it a lot more fun for my wife and me. She decided what she wanted to be months ago, and has been wearing her witch costume around the house for weeks now. They say that the money Americans spend on Halloween is second only to Christmas. Are you kidding me?! Let me say that again for the entrepreneurs- In America, Halloween is the second largest retail holiday-  It is second only to Christmas.

This isn’t going to be about making money on Halloween, but the business coach in me couldn’t resist passing that little hint along to anyone who is looking for ideas. This is going to be about the opposite.  This is going to be about things you can do to make tomorrow special, without spending a lot of money.

When I was young, we didn’t have a lot of money; certainly not enough to spend on decorations and costumes.  My mom didn’t have a lot of free time either, being a single mom with three kids and a full time job, and all.  My mom still managed to make things special on Halloween.  Here are some fun, easy things you can do to make tomorrow fun.  They won’t take a lot of time or money.

1. First, make a special breakfast.  That picture above was my daughter’s breakfast this morning.  I made it from a frozen pancake and a banana, and it took all of two minutes (including the 45 seconds to cook the pancake).  You can do the same with a frozen waffle. You can also do something fun like put a couple drops of food coloring in their milk or juice and make a witches brew for them to drink.
2. Get a Halloween shape cookie cutter, and use it on a sandwich for their lunch.  Peanut butter and jelly works great for this, but I have done it with deli sandwiches too (you just have to push a little harder).  My daughter loves eating her pumpkin sandwiches.  You can find these cheap and easy at just about any grocery store.
3. Let your kids draw some Halloween pictures and put them all over your house to decorate for the big night.  This really gets them (and you) into the spirit of things and it gives them something to do while you make dinner or carve the pumpkin or whatever.
4. Let them decorate a pumpkin.  Pumpkins get real cheap today and tomorrow, and I buy a few small ones and let my daughter decorate them.  If you are anything like us, you have some art supplies around the house and if not, the dollar store is a great place to stock up.  A little paint, a little glue and glitter, etc., and you have a project!
5. Just stop at the grocery store on the way home and buy some Halloween cookies or some other special treat for dessert tonight.

These are just a few quick ideas to get your mind working.  Halloween can be a lot fun, especially if you have young children.  You don’t have to spend a lot of time or money to make things special, you just have to get a little creative.  So give some of these a try, and let me know how things go.  Also, if you have any cheap and easy ideas you want to share, please leave a comment and share them here.

Thanks, and Happy Halloween!

This video tutorial teaches you how to use the US Patent and Trademark Office website to search if a trademark is available. Before you finalize the name for your new business and file the paperwork for your LLC or corporation, you need to make sure the name is not being used by another business. One of things you can do to make sure your name is available, is search the USPTO database using their website.

The website is pretty confusing but this tutorial shows you how to find the search form and easily conduct the search to make sure your name is is not already registered as a trademark by another company. After watching the tutorial, go to The United States Patent and Trademark Office Website to conduct your search.

If you find this video useful, please share it with one of the social bookmarking sites below, and leave a comment for me here.

Okay, I gave away the answer in the title, but I just couldn’t wait to tell you.  There is a lot of talk about the recession lately.  The world economy is on magic mushrooms, and stock markets go up and down by 10% in a given day.  All you hear on the news are stories about people loosing their homes, businesses going bankrupt putting thousands out of work, Armageddon.  Are we in a recession or aren’t we?  The media is selling fear, worry and panic, and the general public can’t buy enough.  The candidates for President of the US keep saying that the country is facing the biggest economic crisis since the Great Depression.  They wouldn’t be setting themselves up to be a huge hero when things turn around, or have a good excuse if they don’t, would they?

Let’s assume we ARE in a recession, and we are facing this huge economic downturn.  So What?!  That may seem cold, or uncaring to people facing hard times right now.  It’s not.  I’m just saying that worrying about it isn’t the answer.  You may have already been affected by the economy in some way, or maybe you haven’t. If you have, make a plan.  If you haven’t, MAKE A PLAN.  Don’t get sucked into the vacuum of panic and paralysis that is sure to grip so many small business owners.  Change your tactics.  Adapt to the market- like you always should. If you don’t think a business can survive hard times, and the great Depression wiped out everything, think again.

Do a google search on companies that thrived during the Great Depression, and you’ll see I’m right.  You’ll find that the common thread among the companies that demonstrated the highest level of growth and sales was that they advertised heavily.  Want examples?  Proctor & Gamble has a policy of not cutting advertising budgets during times of recession and they have made progress in every one of the major recessions, and the Great Depression.  During the ’20s Fords were outselling Chevy’s by 10 to 1.  In spite of the Depression, Chevrolet continued to expand its advertising budget and by 1931, the “Chevy 6″ took the lead in its field and remained there for the next five years.

Doesn’t this make sense?  People don’t just stop buying things in hard times.  Now if you sell Lear Jets to stockbrokers, I probably can’t help you, but if you have a product or service that gives true value to your market, then you can not just survive bad times, you can thrive in them.  Should you start a new business in a recession?  Absolutely.  All of the same rules apply.  Define your market.  Find what they want, and sell it to them.  Don’t try to sell them what you think they want.

Become an expert marketer.  Learn all you can about promoting your brand, and then DO IT.  Companies will be slashing advertising budgets, so you should increase yours.  When competitors start disappearing from the marketing landscape, it is a precursor to their permanent disappearance.  In hard times, advertising costs drop, as advertisers slash budgets.  This is a huge opportunity.  If you can negotiate, there will be some great bargains out their for advertising.

If you have a good product or service, find an angle why it is important to keep using it in hard times. If you provide business services, stress the importance of your product to your customer, and show them how it will help them survive the hard times.  Entertainment or leisure? Stress the importance of staying sane in hard times by maintaining your personal relaxation routine.

True courage is not the absence of fear, it is the abilty to act in spite of it.  That isn’t a Startup Daddy original, but I was lucky enough to learn that lesson as a young child and it has influenced my attitude about fear, my whole life.  It is okay, normal, to be at least a little fearful about starting a new business in a troubled economy.  Don’t let that fear keep you from acting.  Use is to keep you sharp.  Do your research.  Fortunes are not just lost in hard times, they are made.

In this episode of Startup Daddy, I talk about the differences between business entities.  I explain Sole Proprietorships, Partnerships, Limited Liability Companies (LLC), and Corporations, and why it is so important to protect yourself.

In the Time Saver Quick Tip, I recommend a virtual phone system to give you a professional image without the cost of additional phone lines or expensive PBX systems.

Recommended Resource for Filing Your LLC or Corporation Paperwork

My Recommendation for a Virtual Fax Line and or Voicemail Number
The Startup Daddy Community gets a 30 DAY FREE TRIAL, by following the link above. If you want a dedicated fax line, and/or all you need is voicemail, this is the way to go.  You get your faxes in your email inbox as a PDF, and if you opt for the PRO Service option, you get voicemail as well, with the ability to record a personalized message.  If the system hears a fax tone, it just accepts the fax.  If it is a caller, they hear your message and you get the voicemail in your email inbox, in the form of a WAV file that you can listen to on any computer or smartphone.

My Recommended Service for a Virtual Receptionist Phone Number
The Startup Daddy Community gets a 30 DAY FREE TRIAL, by following the link above . Big-business sound for small businesses.  Customers get a toll-free and/or local number that answers calls with a professionally recorded greeting. Callers can navigate the touch tone menu to find the right person by name, extension or department. Calls can be transferred to any phone, anywhere, anytime. It also includes features not found on traditional phone systems like advanced call screening and voicemail stored by phone, email or online.

Please take a brief 3 Question Survey about my upcoming Business Startup Course

Download the Mp3

(A great discussion took place in the comments on this post, going into the subject in greater detail.  Be sure to scroll down and read more.)

If you’re worried that you don’t spend enough time with your children, you’re not alone. If your worried that starting a new business will take up the little free time you have, and you won’t have any time left over to be a good dad, you’re not alone. Let’s face it. It isn’t easy being a successful business owner, or a successful anything, and a good dad.  If you’re like most dads I know, you leave for the office early in the morning and by the time you come home, the kids are either already asleep or almost there.  Even if they’re wake, you’re so tired you just want to go to a quiet room and chill.  I know this, because once upon a time, this was me.  That is why I can promise you that it doesn’t have to be that way.  This about me confronting the reality that my baby girl didn’t know me, and what I did to fix it.

When my oldest daughter was about a year and a half old, I was going through a difficult time with my business.  I had grown my business to the point where I needed help to get all of the work done, and I hired an assistant.  I spent a lot of time and money training this person, and just as I was entering into my busiest time of the year, they up and left me.  No notice, just didn’t show up. There was no time to get anyone else up to speed, so it was early to the office and late nights for couple months.  I’m talking in the office by 7 am, and there until after 10 pm.  I was hating life, and to make things worse, I suddenly realized that my daughter couldn’t possibly know who I was.

Don’t get me wrong, I was there for all the “big things.”  First steps, first words, all the great moments.  But she was just a baby after all, and she had no way of remembering what was happening when she was 6 months old. At a year and a half old, her world started a month ago, and I wasn’t spending enough time around her.  Of course she knew who I was, she knew I was her dad.  I mean she didn’t know me any more than some of our friends who would come around a lot, and this realization crushed me.  I had to make a change.

I also made some changes in the way I do business that will never put me in that position again, but that is for another post.  This is about the changes I made to get to know my daughter, and get her to know me.  I started doing some things that took very little time, but allowed us to really connect.  It made a huge difference in my life, because by prioritizing my family over my business, I realized I was able to have both.  My work still manages to get done, and my daughter and I now have a close, strong relationship (that will last until she is a teenager, and stops talking to me altogether).

So here is a list of ten things, in no particular order, that I do to spend time with my daughters ( I have 2 now) and you can do, to get to know your kids- and get them to know you.

1. Make breakfast. Every morning, I make breakfast.  Now we’re not talking Belgian Waffles and Eggs Benedict here, we’re talking cereal, frozen waffles, yogurt, anything easy.  We go nuts on the weekends, but during the week, I have coffee and sit at the table and spend a little time with my oldest daughter. The baby will join this ritual when she gets a little older.  We have some of our best talks at breakfast.
2. Go to breakfast. Similar to number 1, but my wife likes this one even more.  This is a weekend thing, and a lot of fun for my daughter.  Did you know that you can go to McDonald’s and get scrambled eggs, pancakes, sausage, hash browns, and coffee for under $5?  My wife deserves some quiet time  too, and I am glad to be able to make that happen now and then (as long as the baby cooperates).
3. Bath time. My oldest is too old for this now, but when she was younger, I made sure that even if I missed dinner, I was home in time to give her a bath.  I’m starting to do this with our baby now, and I have to admit, it’s a blast.  She loves the bath, and it makes it easy to play and laugh together.  No matter how bad your day was, I dare you not melt when your kid laughs hysterically.
4. Take walks. My oldest and I take a walk around the block every night after dinner, weather permitting.  Just around the block.  It only takes 15 minutes, but it’s another great chance to talk about what’s going on in her life.
5. Read a bedtime story. Reading to your kids is so important for so many reasons.  My daughter loves books, and I think one of the reasons is that my wife and I have been reading to her since she was in the womb.  It’s great for babies too, because let’s face it, it’s hard to think of things to do with your baby.  Reading is always a winner.
6. Cook with your kid. This is not a daily thing for us, but it’s a lot of fun.  You don’t even really need to know how to cook to do this.  I’ll let her crack and beat the eggs, if I make an omelet.  I let her roll some store bought dough, and we make pizza.  I let her roll a hot dog in some crescent roll dough and throw it in the toaster oven.  Let them make a mess and have some fun.
7. Take your kid on errands with you. I don’t suggest taking them to wait in line for an hour at the Post Office, but a grocery run is fine.  You’re not going to set any records for speed or efficiency, but if you can spare an extra few minutes to get things done, it’s a great chance to get out of the house with your kid.  It’s also a great excuse to come home with S’mores Pop Tarts.
8. Make a date with your kid. Almost every week, I take my oldest daughter on an outing.  When the baby gets older, she’ll join us.  I make a point not to do it on the same day or time, because that kind of structure can be limiting.  It can just be a day at the park, or something like the zoo or the science museum.  You don’t have to spend a lot of money, but spending some one on one time with your kid, doing things they really enjoy, goes a long way.
9. Let them help you with your home repairs. Common sense please.  My daughter doesn’t handle the power tools yet, but she can hold and hand me a screw or screwdriver, as good as anyone.  Again, it takes longer to do everything, but life doesn’t always have to be about how fast.  When you see the pride your kid feels when they help you fix something or put something together, you’ll see why this is worth the extra time.  And hey, my wife still might have trouble telling a Phillips from a Flathead screwdriver, but my 5 year old has it down cold.
10. Talk. All of these things are fun, but all you really have to do to get to know your young kids, and get them to know you, is talk.  Every day. Ask your kid what they did that day, and listen to the answer.  If they see you are listening and paying attention, they’ll talk to you.  If your kid is anything like mine, you won’t be able to get them to stop talking.

I know that it won’t be long before my kids will stop wanting to spend time with me and stop wanting to talk to me.  I am going to enjoy this time while it is here.   So what about you?  What are some of the things you do to get to know, and spend some time with your kids?

This is the premier podcast episode of Startup Daddy.  In this episode I talk about my entrepreneurial path, and how I made the leap from unhappy employee to financially independent home based business owner. In this episode you’ll also find:

• The basics of starting a business
• A checklist to get you started
• The 2 books that influenced me the most in the beginning.

Items Mentioned in this podcast:

Download your Home Based Business Startup Checklist (PDF)

Download your Personal Financial Checkup form (PDF)

United States Patent and Trademark Office Go here to conduct your trademark search

Getting Things Done, by David Allen

The E-Myth, by Michael Gerber

I did have a little fun getting an intro done, but I am not a professional broadcaster, and this is my first attempt at creating and editing an audio file, so I apologize if it doesn’t sound perfect and polished.  I will get better. So what do you think?   Let me know what you thought about my first ever podcast.  I can take it.  Let me know what you liked and didn’t like, or if there is some topic you would like me to cover.

Download this episode

I like to cook.  My family just made a huge move a few months ago, and we are renting a furnished house for a year, while we settle into the new city, and figure out the area where we want to live permanently.  Most of our stuff is in storage, and that includes most of my cooking tools.  So tonight, mashed potatoes are on my mind, only the peeler in the house is broken.  No problem, I just need to run to the store and buy one.  The problem is, the one I own (in a box somewhere) is one of those good ones, with the big black rubber handle and razor sharp blade.  The only one the store has is one of those cheap $2 metal handled ones.  So pealing 6 potatoes, which usually takes less than 10 minutes, ends up taking 20 minutes (not including the 20 minute trip to the store).  What does this have to do with starting a business?

When you have bad tools, doing even the simplest tasks will take you twice as long.  Accomplishing big things like starting a business, with bad tools, is next to impossible.  That is why I put together the Business Startup Tool Kit and why I give it away for free, to anyone who signs up for my newsletter.  It is far from every tool you will need to get your business started, but it will definitely get you started in the right direction.

It will take more than a business plan, and financial planning.  That is only the beginning.  You will need to educate yourself in every way you can.  If you are like most people, you will need to read books, attend seminars, take courses and join networking groups.  You hear about these people who seem to fall into money.  They have a good idea, and the next thing they know, they’re millionaires.  Urban legends.  Real success takes work.

I have been self employed for more than ten years, and I can tell you that for most of them, I have worked harder than most of my friends with 9-5 jobs.  True, I define working hard a little differently then they do.  I work shorter hours and I have the freedom to work when and where I like.  The difference is, I create every single dollar I make with my own imagination, determination, and follow through.  They have a boss, or a job description that says do x, y, and z, and you will make x dollars.  I have no such road map.

This is a good thing though!  As entrepreneurs, we have unlimited money making potential.  We do not depend on salary or bonus.  If I need more money, I work more, or launch a new product.  You need to keep you tool box full and current though.  You need to read the business books, find the good blogs in your field of interest, and participate in on-line forums.

I highly recommend reading,The E-Myth Revisited, by Michael Gerber , if you haven’t already.  This book literally changed my life at the beginning of my entrepreneurial journey.

So keep at it.  And PLEASE, buy the good potato peeler.  A few extra bucks will save you half the time.

Do you have something that has made your business life easier, or changed the way you approach your business?  I would love to hear about it.

COMING SOON- I am getting ready to launch a series of courses that will help you get your home based business started fast, and grow it fast once you do.  You’ll learn about:

• Choosing a name for your new business,
• Choosing the right business entity, getting a Tax ID and opening a bank account
• Setting up the home office
• Much, Much More …

Before I finalize things though, I want to hear from you. Please take a brief survey about what you want to learn about…

Thanks!

Before you start doing the things, the tasks, required to start a business, I suggest you spend some time doing some serious thinking and planning. Not just setting specific goals, which is important, but higher plain stuff. The things David Allen calls 50,000 feet thoughts- career, purpose, lifestyle.

There is a very famous book by Napoleon Hill, called Think and Grow Rich. It’s one of those books that most successful people I know have read. In his book, Hill presents his concept of the Definite Major Purpose. It was a challenge to his readers, to ask themselves “in what do I truly believe?” You need to define this, and make sure whatever business you decide to start, is aligned with this purpose. If your business is in some way aligned with your core values, or doing something you truly love, you will have passion in your work. Passion always comes through, and greatly increases your chances for success.

For example, I love to teach. I get really jazzed when I can help someone do something they have been having trouble with. Whether it is something big like starting a business, or something small like helping my wife figure out how to sync her outlook with gmail, I really enjoy sharing what I know. I get real, sincere joy and inspiration from watching and helping others succeed.  I believe that is the most important factor in my success as a business start-up coach.

There are a lot of people who start businesses in a niche because they think it will make them a lot of money. They know nothing about the niche, and have no interest in learning anything about it. This can work, but I highly discourage it, especially for your first, or primary business. LOVE WHAT YOU DO!

I often say that most people spend the majority of their time awake, working, so if you hate your work, you hate your life.  Don’t be miserable for the majority of your waking hours. Personally, I would rather live in a box on the street.

Love what you do, and your passion, your enthusiasm, will come through in your work. People respond to that. So if you are trying to figure out what business you want to start, begin by making a list of things you like to do, and things you know about. You will be surprised how many great business ideas appear on that list.

Once you decide what business you are going to start, envision the outcome you want.  Picture the lifestyle it will bring you.  Imagine what you will do with the money you will earn.  Be as specific as possible.  Don’t think this stuff is important?  Ask any pro athlete or any successful person you know.  This is not only important, it works!  When you picture in your mind, the outcome you want to achieve, you make a connection to the outcome.  It becomes something real, and on a subconcious level, it becomes your reality.  You know you can do it, because it is something you have seen.

This post continues the series on Starting A Business. This installment deals with choosing a business structure for the formation of your new company.

Choosing the right business structure for your personal situation is one of the first decisions you will have to make when you start a business. Just like daughters are different than sons, a Sole Proprietorship is much different than a Corporation or LLC (Limited Liability Company). They have many similarities but at their core, they are very different. In this post I will explain the differences between the business structures and provide you with information that will help you make the decision about which is right for you.

When making the decision about how to structure your new company, some of the things you need to consider are:

• personal liability
• taxes
• management structure
• will you be seeking outside financing
• selling the business

Here is a list of the most common business structures and a brief description of each:

1. Sole Proprietor
2. General Partnership
3. Corporation
4. Limited Liability Company (LLC)

Here is a brief description of each business structure and some information to help you decide which is best for you.

SOLE PROPRIETORSHIP:

This is the most common and the simplest form of a business. With a Sole Proprietorship, an individual just goes into business without any formal organization. If you want to have a business name, a DBA (Doing Business As) or Trade Name is filed with the state. Owners are personally liable for all debts of the business.

GENERAL PARTNERSHIP:

A general partnership is created when two or more people associate to carry on a business for profit. A partnership generally operates according to a partnership agreement, but this is not required. Like with a Sole Proprietorship, the owners are personally liable for all debts of the business.

CORPORATION (C Corporation):

A corporation is a legal entity, separate from its owners (called “shareholders.”) This is why a corporation limits the liability of its owners. Forming a corporation is a great way to protect your personal assets from company liabilities such as lawsuits and debts. It also makes it easier to seek outside investment, there are tax advantages, and it makes it easier to transfer ownership. The people who manage the business of a corporation are
called “directors.” Corporations are complicated. Every state has different rules, and the names for things vary slightly from state to state. A corporation is generally created by filing a document called Articles of Incorporation, with your state.

Some downsides of a corporation are that there are formalities and record keeping requirements like formal board and shareholder meetings, keeping “corporate minutes” and filing Annual Reports. You are also taxed more, as the corporation pays taxes on income, and the shareholders are taxed on any profits that are distributed.

LIMITED LIABILITY COMPANY:

A Limited Liability Company (LLC) combines some of the characteristics and flexibility of a partnership, and the liability protection of a corporation. It is formed by filing Articles of Organization with your state. The owners of an LLC are called “members.” Generally, the liability of the members is limited to their investment.

The advantages of an LLC are that generally, any income or loss is passed through to the members (as in a partnership or sole proprietorship), so the entity is not taxed like in a corporation. So the owners get the liability protection of a corporation with less formalities, paperwork, and accounting.

S Corporation (”S Corp”)

An “S” corporation is not a different entity, but a federal tax election. There are tax rules that can make it advantageous for small businesses to elect be “S” corporations, but you should contact the IRS or a competent accountant regarding this decision. You can apply for both a Corporation (C Corp)or an LLC (Limited Liability Company) to be taxed as an S Corporation.

Your Decision

It can be very confusing to try to decide which entity is right for you. One of the things I am going to try to do is not just give you information, but when I can, guide you with advice. So with the understanding that I am NOT a lawyer or an accountant, here is my take on things.

I highly recommend forming a Limited Liability Company (LLC) or Corporation. There is too much liability in this lawsuit happy society of ours, to have a Sole Proprietorship or General Partnership. You need to protect yourself. I have had both, and the LLC is less paperwork and accounting on an ongoing basis. It limits your liability and protects your assets like a corporation, but without the burden of corporate maintenance. That’s why the LLC is becoming the most popular way to start a business, and why it is the business structure I chose for my new company.

COSTS

The process and cost to establish them is about the same. Once you decide which one you want, establishing a business entity is usually not that complicated or too expensive. If you have never done it before, I recommend hiring someone to file the paperwork. A lawyer can cost over $1,000, but there are businesses that provide this service on your area, for much less. The cost varies, but on average should be around $300-$500.

I have a recommended resource that will file an LLC for you for as little as $149, and a Corporation for as little as$139. You will also have to pay the state filling fee, and have the fillings published in a local newspaper. This will add about $150. So for about $300, you can have professionals prepare your paperwork, and you have a company.

Whichever way you decide to go, form the entity and get OFFICIALLY IN BUSINESS! For my new company, I am using the resource I recommended above to file an LLC. To save money, I opt not to do all of the fancy embossed kits and expedited services. If you really want that stuff, reward yourself later.

Next up in the Starting A Business Series- Setting up your website.

Having done both (more than once), I am going to make the argument that choosing a name for your business is even more difficult than choosing a name for your child. While you don’t have to factor in things like people in your past that had that name, in-laws, and what will happen to your business on the playground, with your child, once you decide that you like the name, you’re done. No so with your business.

With a business you need to go much further. You need to find out if there are other businesses with that name, and if so, if they are in your industry. Is the trademark available? Is the domain name available? Does it mean the same thing to others as it does to you? The list goes on. There are businesses out there thriving on this very concept. Day in and day out, they help people name their companies. There are also companies that will help you name your child, but that is another story entirely.

These services are not for us though. We are not that decisionally challenged. We would never entrust such an important, personal decision to strangers. Besides, we are on a budget, right? So here are are some tips and advice about naming your business.

CHOOSE A NAME WITH MEANING

Unless you have a HUGE advertising budget, you want to stay away from names that do not mean anything, and do not indicate what the business does. Google, Yahoo!, EBay, and Amazon, spent millions before most people knew they existed, or what they did.

Using your family name in the name of your business is fine, but only if you never intend to sell it to anyone outside your family. You want to avoid anything too generic as well. Accurate Business Accounting, may tell your potential customer exactly what you do, but it does not distinguish you from your competitors. If they see your brochure, or an advertisement with that name, it is not likely they’ll remember you. You need to strike a balance between creative and descriptive, so when people hear the name, they remember it and they have at least a vague idea about what you do.

THINK BIG FROM THE BEGINNING

You may also want to avoid any regional references in your name. Be optimistic. You’re going to take over the world right? A multi-national distributor of widgets with the name West Coast Widgets, just doesn’t work. 5th Street Bakery might seem like a great idea in the beginning, but what happens when you want to open the other 10 locations? What if you move?

IS THE NAME AVAILABLE?

Your State

The first place to check is with your state’s Secretary of State and Corporation Commission. You can usually do this online. You will want to check if there are any other registered entities (corporations, LLCs, etc.) or DBAs (Doing Business As) that are already using that name.

Trademark

This is a big one. Once you decide on a name you like, you need to check if other businesses are already using the name. There are many ways to do this, but the best first step is going to be to Google it. Throw the name into Google, and see what comes up. If there are businesses there, but not with the exact name, and not in your industry, you may still be in luck.

Check the trademark availability at the US Patent and Trademark Office website. Even if you are not planning to register the trademark right away, you want to make sure it is available. I recommend registering your trademark as soon as the budget allows. Remember, you’re going to take over the world! If you register yourself, it will cost about $325. All of the information is available at the USPTO website. A lawyer will cost more, but will save you time and possible delays if you do something wrong. Here is a resource that will prepare and file your trademark application with the United States Patent and Trademark Office for $169 + standard government filing fee of $325.

Domain Name
This is your website address. Once you are confident you have a unique name, you get the joy of checking if the Domain Name is available. There are many domain registrars out there and each has a search function. GoDaddy.com has a good search function because it gives you possible alternates if the name is not available. Be prepared to discover your name has already been taken. Don’t get discouraged, get creative.

Avoid using an alternate spelling of your name, because you’ll probably end up sending business to whoever owns the right spelling. You can try adding something to the beginning or end of a name though, or a logical abbreviation. If you are going to incorporate, try adding inc to the end. If you are going to form an LLC, try adding that. (My next post will talk about business entities) Of course this only works if the people who have the name you want, are doing something completely different with the website.

This is what brainstorming is for. If you expect people to input the name directly into a web browser, don’t get cute with the spelling. Remember that most people will find you online either by reading the name from a business card, brochure or an advertisement, or using a search engine. This is why a creative prefix, suffix, or abbreviation is much better than an alternate (wrong) spelling.

If you are going to do business in the “real world” your domain name should be your business name. If you are starting an internet business, there are different approaches to picking a name. One is a branded name- something memorable that hopefully, indicates something about your business. The other is a keyword rich domain name, optimized for search engines. I chose to combine these two approaches for this site. Startupdaddy.com (my branded name) redirects to home-based-business-startups.com (comprised of keywords and optimized for search engine rank).

DON’T FORGET TO CONSIDER OTHER CULTURES & LANGUAGES

A classic example of a name becoming a problem later, was the Ford NOVA. This car sold very well domestically, but not so great in Mexico or Latin America. This is because in Spanish, “No Va” means “Doesn’t Go.” Food for thought.

Test Your Name

This is important, so do some testing. At the very least, run the name by everyone you know. If you want to provide your product or service to customers with diverse cultural backgrounds, run the name by people who speak different languages. To get more sophisticated, you can use surveys or a pay-per-click advertising campaign to see if your name accomplishes what you want it to.

Whatever you do, don’t settle. Don’t pick a name just because the domain name is available. Remember, if you are lucky, you’ll be living with this name for a very, very, long time.

I know it has been a couple months since I posted anything, but I am back. In the two long months since my last posting, I have learned many new lessons and re-learned a few old ones. In the coming posts, I plan to share a lot of what I have learned. You will also see me launch a new business, from the very beginning. But first, let me tell you why you haven’t heard from me for a while.

Simply put, I got myself into a business deal that ended up going against almost all of the criteria I have for my business ventures. I got into a partnership, where my responsibilities far outweighed my ownership stake in the company. Our roles and responsibilities were too vaguely defined from the beginning, and this led to a quick meltdown of the working relationship between me and the main stakeholder. Most importantly though, I allowed myself to sacrifice the flexibility and lifestyle, I have worked so hard to achieve.

The good news is that I have developed the ability to recognize when things are not working. I have a very good idea about when I can turn things around, and when they will only get worse. I needed to get out of this, but I had to be very careful to do it right. Oh, I didn’t mention that one of the partners was a very close friend, and all of the partners (except for me) were lawyers?

I am not a quitter. If I commit to something, I am all in. I will almost always stay in a bad situation longer than I should. Now that I have kids though, I have had to shift my mindset and my priorities when it comes to my businesses. A long time ago I decided that it was more important to me, to spend time with my family than to make as much money as possible. For me, lifestyle often trumps income. Don’t get me wrong, I enjoy a nice lifestyle and make a good income. It is just that I could never be one of those dads who has a very high paying job that keeps him at an office from 8 am to 8pm. There is nothing wrong with it, but it is not for me.

I stayed with this project about a month after I recognized that it was not what I wanted to do. I really tried to make it work. I put all of my other projects on hold (including my consulting business and this blog), and put all of my effort into making the business work. Meanwhile, my relationship with the other main partner was quickly deteriorating, and we would often end up arguing. I was sacrificing too much. I was not happy, and I was not hiding it very well.

Coming to the decision to leave the partnership was not easy. As I said, a very good friend was a stakeholder, and his financial investment was not the only issue. My leaving might put him in an uncomfortable position with his partners. I also wanted to make sure I was not opening myself up to litigation. Also, I still thought the business was a good idea, and I was struggling to figure out where it went from something I was excited about, to something I could no longer do. There were a lot of factors, but I think in the end, it came down to personalities.

I spoke to my friend first, and then to the other partners. I really agonized over how to approach them, and what to say. Of course when I finally made the phone calls, it was not as bad as I feared. None of the conversations were confrontational, and we were able to leave things very amicable. They may even enlist my services as a consultant from time to time.

I have always said that action is exponentially better than inaction. I would rather make a bad decision and correct course, than be caught up in the quicksand of indecision. When you take this approach though, you have to be willing and able to see when you have made a mistake, and willing and able to take the actions necessary to correct it.

You are ultimately responsible for your own success and happiness. Before you start a business, or go into any business deal, you have to give a lot of thought about how you define success. What sort of lifestyle do you want? How much money do you need? Will this business or opportunity help you achieve your goals? If yes, do it! If the answer stops being yes, be prepared to stop doing it.

There was a time when I would have thought of this experience as a waste of months of my time and a lot of money. I do not look at it that way. I learned a lot of things that will make me a better adviser to my clients, and gained knowledge and insight that I will be able to apply to future ventures.

I am re-energized and motivated to put my energy into teaching people how to start and grow their businesses. I am lucky to have found something that fulfills me personally and professionally, and I will be very hesitant to stray from this path again. What I like to do is teach. The wonderful thing about teaching is how much you can learn while you do it.

Ready, Fire, Aim! This is how most people start a home based business. This is how most people start any business; how most companies launch a product. This is how I did things when I first started along my entrepreneurial path, and let me tell you, it is one of the most expensive and important lessons you can learn. You have probably heard, “People don’t plan to fail, they fail to plan.” It’s true, and if you are even thinking about starting a business, you better remember it.

So where do you start? A business plan, right? Wrong! This is very important, and I will get into that later, but the place to start is your idea to start a home based business in the first place (or any business for that matter). Let me tell you about one of my flops.

I was about 25, and I moved back to New Orleans to pursue a business opportunity that eventually fell through. I had just sold my first company, and I was rich. After paying off a bunch of debt, I had about $10 thousand in the bank! Listen, when you’re 25, and that is more money than you have ever had before, you think you’re rich. I put the whole thing into spray mace (pepper-spray) distributorship. This is a self defense spray, and since New Orleans had such a high crime rate, and was at the time, the murder capital of the US, I thought I had a no-brainer here. I was very wrong.

Long story short, I finally threw out about half of my INITIAL inventory investment about ten years later. Maybe the people who were interested in carrying something to insure their personal safety were all carrying guns, I don’t know. What I do know, is that I will never invest my time or money into a venture again, without first testing to see if there is a market for the thing.

It is far easier to find a market and provide them something they want, than it is to have a product and find a market for it. Notice I said, want not need. It helps to be a member of your market too. It is not a requirement, but it sure makes things easier and more interesting if you can relate to the people you are trying to sell to.

A good way to start, is to think of a product or service that will make your life easier, better, more fun, exciting, you get the idea. Do some research to determine if other people are looking for it. Search online for the product or service, and see what comes up. Do some keyword research (If you don’t know how, I will get into how to do keyword research in a future post). Search online forums for groups that represent your market- just add “forum” to the description of your group in your search. See what they are talking about. Can you help them?

This is finding a niche. Identify a market and identify something they want. If you do that, you are onto something. Remember that people are more likely to purchase something they want, than something they need. This is why it is more dangerous to walk into a Best Buy than a Farmer’s Market. Don’t, “Ready, Fire, Aim!” Take careful aim and you will exponentially increase your chances for success.

This is a Valentine’s Day tip for all of you Startup Daddies and Startup Mommies out there.  The best way to show your spouse you really care about them is to do the little things that take a more thought than money.  At least that is how it is in our house.  Go buy a Valentine’s Day card, and mail it to your spouse today.  If you mail something to someone in the same city, it will get there the next day (that is, everywhere I have lived).  So make an excuse to go to the grocery store.  They all sell cards and stamps now, and most have a mailbox right out front.  You know you need diapers, or eggs, or vodka, whatever.  Fill out the card, and mail it to your significant other.  Get another card, of course, to give them in the morning.  Make sure they open the mail tomorrow, and when they see your thoughtful gesture, instant brownie points.

None of us need a Greeting Card Holiday  to remind us that we love the people in our lives.  It sure makes a great excuse though. Do something a little special tomorrow.  Go out to lunch, buy a bottle of wine to share after the kids are asleep, anything.  The reason we work hard is to make life as good as we can for our family, right?  So stop, and appreciate what you have.  Even if you have no romantic interest in your life, I am sure you have someone you can tell you love them.  So tell them.

What inexpensive things do you do to show the important people in your life you care?

Here are five things you can do get off to a bad start, waste your time and money, and frustrate yourself in your quest for financial and career independence.

1. Forget About Niching Down

Whether you are starting an online venture or a real world, brick-and-mortar business, it is very important to find your niche. All of my successful businesses have been targeted to a very specific sector of a bigger market. I’ll give you an example.

One of my earliest post-college startups, was a swimming pool service and repair business. This also happened to be my first partnership. A friend of mine discovered a device that used copper and silver ions to purify pool water, instead of chlorine. He started a business installing these devices, and offering service contracts to the homes that purchased one. He did not have a strong business background, so he found himself struggling. This was way before the internet got started (yes, I’m old!), so he did not have fantastic resources like StartupDaddy.com that he could easily go to for advice. We started talking about it, and I thought he was really on to a great idea, so I partnered up with him.

I was living in Miami at the time, and this was just as South Beach was starting to be a place beyond a community of retirees living on their social security checks (I told you, OLD!). Since this was a luxury product, I started targeting luxury communities. The expensive Miami Beach mansions in exclusive gated communities would be our target market. I increased what he was charging for the device itself, doubled what he was charging for a monthly service contract, and quadrupled the business in the first year. We were able to differentiate ourselves by targeting a specific niche in the market. This is when I discovered it cost me the same time and money to get a pool clean for a wealthy person who could afford, and wanted, other premium products and services, as it did for a person who could not afford, and did not want, premium products and services. A lesson I keep in mind to this day.

2. Listen To Everyone’s Advice

When you announce to your world that you are starting a business, you will be surprised at the advice you will receive. Some from people who have never run a business themselves! While this advice usually lacks in quality, it will surely not lack in quantity. You will hear, “Wow, pretty risky! Better have a backup plan.” Like working for a company for 20 plus years, and getting laid off at 50, is not risky. You can also get overwhelmed by the sheer volume of GOOD books, courses, and online content, devoted to starting a business. Do yourself a favor. Find a few trusted advisers, read as much as you can, and shut the rest out.

3. Remember, You Already Know Everything You Need To Know About Your Business

While it is very important to filter the information and advice about your business, it is also very important to seek it out. You may have been doing what you do for your business for 25 years, but believe me, there is always something you can learn to make more money doing it. All of the successful entrepreneurs I know continually read journals and books about their business, and business in general. You are going to need to pay for some of this education, too. Go to seminars (on-line AND OFF-LINE). Sure, some are truly a waste of your time and just an excuse for the presenter to sell his wares in the back of the room. Do some research though. Get referrals or read some of the author’s material first, to make sure you like what they have to say, and how they say it. Seminars can be a great way to get information and make contacts, that will make you money.

4. Stay Secluded and Go It Alone

It is easy when you are starting a business, especially a home based business, to get caught up in the day to day activity of getting things done. When you couple that with starting a family, you can quickly and easily find yourself going days or weeks, without seeing another adult human being that you are not related to. Do not fall into this trap. It can get very lonely, and it is not healthy for you, or your relationship with your family. Get into a networking or mastermind group. It will help your business, and your psyche.

5. Get Bogged Down In the Planning and Minutia, and Never Get Started

Let’s face it. Starting a business is scary. It’s exciting, but no matter how many times you do it, there is a little voice reminding you that there is the possibility of failure, and that is scary. Some people say that is a poison thought. You should not allow yourself to even think about failure. Bull!! The possibility of failure is real. To me, shutting out reality is just plain dumb. The key is to be motivated by this possibility. Be careful. When there is a scary, big picture thing out there, we have a tendency to bog ourselves down with minutia. We get caught up performing tasks, instead of accomplishing goals.

Don’t get sidelined by the siren song of inefficiency and delay. This will happen to you. Count on it. Be aware when this is happening though, and you can stop it. Get started today. Go launch your website. Call the printer and get your business cards. Sit down, and niche down your business idea. Whatever the next step is for you, take it. Today. Now. Go.

This has more to do with the Daddy than the Startup, but this is how I spent Super Bowl Sunday. About 4 am, our oldest daughter comes into the room. “I don’t feel so good.” Great day to come down with a cold! She didn’t wake me up, because this is about the time the baby is placing her breakfast order. While the missus took care of the baby’s breakfast, I put the oldest back to bed. So started the manliest day of the year.

There was a time when Super Bowl Sunday meant friends, food, beer, and some football to top it off. How times have changed. Instead of the 12 hour Fox Super Bowl Pre-game show, we get Disney Channel and Noggin at our house. Handy Manny is more interesting than Terry Bradshaw anyway.

Lucky for me, I got my daughter into watching football. We sit there for a bit on a Sunday afternoons, and she hangs out with dad and does her touchdown dance when either team scores. Don’t get me wrong, we don’t watch a whole game (or even a half) but we have a good time for as long as her attention span allows. She really likes the Fox football player robot, too. Thank goodness for DVR.

I record the games I’m interested in, and watch them at night, when everyone is asleep. You’d be surprised. You can watch a whole game, every play, only fast forward the commercials and between-play mulling around, in about an hour and half. Just remember to set it to record about a half hour extra, or you will find yourself missing the end of an exciting overtime game on occasion.

I was lucky tonight. Startup Mommy had things well under control with the baby, and my daughter has a vested interest in the game. It seems the main characters in the animated movie Madagascar, are called the New York Giants, by someone at some point in the movie. She has a team to root for! That and she said that it wasn’t fair that the Patriots won all of their games. Apparently everyone is supposed to get a chance to win. What do you want? She’s four. I thought I would wait another few weeks before I teach her the harsh reality of life. We actually got 3 quarters of very inconsistent watching in. (I’m in Phoenix so things got started around 4:30). It worked out perfectly. The Giants scored to go ahead just about at my daughter’s bed time. So I hit pause, my daughter satisfied that the Giants were ahead, and went to read some books and put her to bed.

After she fell asleep, I went back to watch the end of the game. I’m from Miami originally, and a very big Dolphins fan. Sorry if I just lost some readers. The very first football game I got to see live, was Jets vs Dolphins, in the Orange Bowl, during the 1972 season. That’s right, the STILL, only remaining perfect season. Like I said, for me, things worked out perfectly. A perfect end to a perfect day.

How did you get some game-time in ?

I just finished being interviewed by Sterling and Jay, from Internet Business Mastery. I learned so much about internet marketing from their podcast, that I decided to take their course a while back. They wanted to interview some former students to see what they were up to, and I was very happy to tell them that I was able to take the techniques they taught, and create some business opportunities.

I have some websites (besides this one) that are starting to generate some passive income, and I have been able to take what I have learned from them and others, to make me a much better consultant. I found it very motivating to speak with them. Besides the fact that they are friendly, and knowledgeable mentors, talking about internet business with them really got me excited about some of the things I am doing.  It is so important to find some people you can talk to about your business- whatever it is.  Not people you are trying to gain as customers, or close friends or relatives, but a group of people you get together with, just to talk business.

Mastermind Groups and Networking Organizations are great places to meet people you can do this with. Find a networking group or on-line community where you can participate in the exchange of ideas. Besides the obvious business benefits, you would be surprised how nice the social nature of these things are. With the new business, and family responsibilities, how often do you get to talk to other adults about adult things? If you are like me, not often! I really look forward to my business lunches these days.

So thanks to Sterling & Jay, for teaching me so much, and giving me the opportunity to talk to their audience. I hope I can motivate some of them to take action. Remember what Bruce Lee taught us, “There is no try, only do or not do.” So DO!

How do you steal a little adult time, and find people you can talk to about your business?

If you don’t have a pet, you may not be aware of how enormous the Pet Industry is. Even if you are a pet owner, you may not know how much money Americans spend on their pets each year. According to a BusinessWeek cover story from August 2007,

• Two-thirds of US households, 33%- 71 million homes, have a pet.
• This is up from 64 million, 10% just five years ago
• Americans spend $41 Billion a year on their pets – that’s billion- with a “B”
• This has doubled in the last ten years
• Spending is expected to hit $52 billion (a 25% increase) in 2 years.

Some more telling statistics:

• 42% of Dogs share a bed with their owners
• 30% of pet owners buy their pet birthday gifts
• 31 million dogs & 39 million cats received holiday presents last year

Has this got your attention yet?

Pet Smart is the largest pet retailer in the Unites States. Their service business is now $450 million a year. This grew from less than 1% of revenue in 2002 to 10% in 2007. They now refer to pet owners as “Pet Parents” in their marketing. They obviously understand that about a third of the people who have pets, think of them and treat them like human members of the family.

Expect some of the trends in how we spend money on ourselves to transfer to how people spend money on their pets. Premium pet food, like organic, vegan, and Kosher is increasing market share. The tainted pet food scare last year served to help this segment of the market. Some businesses experiencing growth recently:

• Luxury pet “spa” groomers
• Pet “hotel” boarding facilities
• Dogie daycare
• Designer pet attire

People have shown the willingness to spend big money on their pets. You should definitely be looking to find a way to accommodate them in the coming year.

This tutorial will walk you through the process of getting a Taxpayer ID (TIN/EIN) from the IRS Website. It is essentially the social security number for your business, and you will need this to open a Business Checking Account and to perform many of the other financial aspects of running the business. You can get a TIN whether your business is a Sole Proprietorship, LLC, Corporation, or Partnership. It only takes a couple minutes to complete and you immediately get a PDF that you can save or print.

I hope you find this tutorial helpful. If you do, please recommend it to others using the links at the end of this post, and leave a comment for me here.

The first thing you need to do before you start any new business, is to decide what you want from the business in the first place. Do you want something that is part-time, to supplement your income? Do need a way to pay your bills if you quit your job, because you have a job or a boss that you just can’t take any more? Do you want a Home Based Business to eliminate your commute? In order to know if something is a success, you need to first figure out what you mean by success. By setting goals from the very beginning, you give yourself a way to measure success. You either meet your goals or you don’t. When you first sit down to define your goals, I suggest you make them as specific as possible, and include a “Reward-Goal”:

• Instead of, “Make more money” something like “Make enough money to go to Hawaii on vacation this year.”
• Instead of, “Spend more time with the family,” something like, “Be home by 5:00 every day, so I can eat dinner with my family,” or “Take Fridays off every week.”

I know a guy that, when he quit his job to start consulting, did just that. He decided he would not work on Fridays. He has had three day weekends, every week, for the last five years! Because he know he wanted this from the beginning, he built it into his process.

One of the biggest problems businesses run into, not just small businesses, or home based businesses, but all businesses, is that they fail to set goals. When you are getting started, think about what you want from your business, and set some goals that will make that happen. You need to write them down too. There is something about writing your goals down on paper, that makes this work. Maybe seeing what you expect of yourself, on paper, in your own handwriting, is what makes it real. Whatever the reason, trust me. Write them down.

You need to set specific goals, and re-visit and revise these goals throughout the year. If you do, you will stay motivated, know when ideas are working and when they are not, and know definitively that you are on the path to success.