Save Now, Spend Later!

A penny saved is a penny earned, a saying most notably attributed to Benjamin Franklin, who by the way never said that phrase exactly. He did however, in 1737 write in Poor Richard’s Almanack “a penny saved is two pence clear,” meaning a penny saved is two pennies earned. As cautious as we can be, we try to maximize our financial earnings by saving as much as possible for the next “emergency” so we are not caught off guard and faced with a mountain of unexpected debt, but somehow we still fall short of our goal. The best way to accomplish some resemblance of financial independence is to live below your means so you are not scraping by every month, which I am sure most who are reading this have experienced that reality at least one time in your life. Needless to say, it is no fun when you have more bills than you have money to pay them.

I would like to introduce you to a website that is designed to give you everyday tips you may not be aware of to help you save money by stretching your income and still enjoying the things you like but at a lesser price than you normally pay. Purchasing an item at a higher price because it is a recognized “name brand” as opposed to purchasing a similar lesser known item presenting the same overall effect really makes no sense, except to the business or person you paid the higher price to, and the reality of it is at the end of the day most people are not concerned with what you have or don’t have, so I say enough with being pretentious and learn how to maximize the amount of money you have at your disposal! That’s where FrugalFrances comes in. Frugal Frances provides information on managing your credit card debt, setting up a budget, providing information about how and why you may be in financial constraints, and shows you ways to get clear of the debt. Do you need counseling on your financial spending, how to spend when doing holiday shopping, building an emergency fund, or learning tips to help you when you become a first-time home buyer? Well, you need to click on FrugalFrances.com and start your journey on the road to financial savings.

Think back on your past about the times you wished you hadn’t made a particular purchase that you either did not keep very long, or if you still have it, the item does not provide the same sense of excitement after you have had it for a while? Frugal Frances will help you get your financial life back on track and work with you in setting up personal goals that fit your particular situation so that you can feel attached to the recommendations she provides towards your unique financial circumstance. We all have financial dreams but as long as we are indebted to others, those dreams will have to be on hold. So before you spend that next dollar, review the information Frugal Frances has waiting for you to help you get and keep most of your earnings, because as another saying goes, it’s not about how much you make but how much you keep.

I am Dr. Anthony Spivey and until next time as I tell my small business owners, think BIG because there is no money better than your money in your pocket, and Frugal Frances can show you how to keep it in your lane!

How Sweet It Is!

I have stated on various occasions in one form or another that small business owners have a very large impact on the economy. For example, they can serve as sub-contractors providing services to larger businesses that find it more cost effective to have a smaller company provide certain services to them to complete a large contract. In this writing, I would like to introduce you to another female business entrepreneur, Jessica Hodge, owner of Loaves of Love (LOL) Breads and Pastries. Jessica's business features many tasty baked goods for every occasion in your life, from birthdays to holiday celebrations, special family events, or office functions.

Jessica, a local business owner in Tallahassee, Florida and a native of Quincy, Florida operates Loaves of Love (LOL) Breads and Pastries, as a home-based bakery that supplies a variety of special order baked items for various events. Her specialty is gourmet breads along with cup-breads, which is a sweet roll that is made in to the size of a cupcake. She also makes whole cakes, scones, cookies, and party platters to name a few of the items she can supply for your special event. Her prices are reasonable and can be seen on her website along with the products she provides at http://www.lolbreadstally.com/.

Jessica’s business started from a passion she has had for baking since she was a little girl helping her mother in her kitchen, and her passion for baking continued to grow into her adulthood. Now she offers her baked goods in the form of a small business based in Tallahassee for all that have a taste for sweet goods. So, if you have a special event coming up and would like to provide some sweet goodies to family members or co-workers, give Loaves of Love (LOL) Breads and Pastries a try and you will have them all laughing out loud with happiness!

Until next time, I urge you as a small business owner to keep thinking BIG! You can review my other articles with management tips for small business owners at www.managementtipsforsmallbusiness.blogspot.com.

This Business is a Snap!

The majority of my articles have been on subjects of management principles that can be used in the workplace to increase employee motivation, understanding your organizational structure, or just general information that any good manager would like to use. This time, instead of writing to you about management principles in general, I would like to profile an actual business in action for your review.

I would like to introduce you to a young entrepreneur name Anastasia Smith. Anastasia is a Junior Style Consultant with Magnolia and Vine. Her product consists of jewelry pieces that can be interchangeably used with a basic bracelet piece by snapping in the chosen piece to add accent or flavor to any wardrobe for any occasion.

For ladies that are into looking their best with their jewelry this would be a good choice to augment your present collection or to start a new collection for yourself.  For you guys looking for something to surprise your better half with, this would count as extra points for you in her eyes!

You can view Anastasia’s collection at www.mymagnoliaandvine.com/3245 and you can reach her by email at 3245@mymagnoliaandvine.com.  The prices are reasonable and for those interested in becoming a consultant like Anastasia, entry into the business is easy and she would be happy to assist you with coming in as a successful consultant like her.

We all know as business people that the commerce in this country is mainly driven by the small business owner and as small businesses come into existence and prosper, it is good for the economy in the form of tax revenue for the local government and a continued stimulus for the economy overall. So why not give Anastasia’s small business a boost by visiting her website and look around at the various items she has to offer.

As one small business prospers it promotes other business endeavors that help sustain the health of the economy and they all eventually come together in a snap!  As I always say, small business managers think BIG!  Until next time I am Dr. Anthony Spivey and I urge you to keep thinking BIG!

You Are Your Own Company

As you go about your daily interactions in your work place, have you ever given any thought about the services you provide to your employer? While you are hired for a specific purpose do you ever really focus on the innate abilities you have that you provide in the form of services and how important those services are and how crucial it is you protect them?

As a comparison, each corporation has a HR section that provide benefits, sets policies and procedures, model how you should behave ethically in the organization, and how you should represent the company with good customer service. Using that analogy now see yourself as a company in comparison. When you accept a position, you bring to the employer as represented by your performance in the interview the services you can offer the prospective organization. When you see yourself as a company, you are competing against every individual that is vying for the same position. Therefore, when you compete for a positon why would you not compete in a manner that can display the “services” you have to offer in your “company” in a way that would entice an organization to seek those services?

What are your policies and procedures for going about the workday? They should be of a professional nature that ensure you leave your employer at the end of the workday wanting more from you. What about behaving ethically in the organization, how would you behave if it were your company? If you respond in a fashion that you would expect each of your employees to behave in a manner that is above reproach then why would you not do the same in the position you now hold as an employee? While we are all part of a team in the organization, you are still your own company bringing a special talent to the group, and let us not forget about benefits either. When we join an organization, we seek out the companies with the best benefits such as insurance plans and a 401k package, or other similar type retirement plan. With you being a company your prospective employer is doing the same when they are considering hiring you; what benefits do you offer? When you show up for work tomorrow think about what you as a “company” can bring to the table in terms of productivity. Are you a company that performs well, one that others are seeking, and one that a good reputation precedes you? If so, you are a company in demand and that is what keeps the business moving forward!

As time passes, and new opportunities arise, others will seek your talents and the performance you display in your current position is your business card to future positions of increased responsibilities and increased revenue potential. Therefore, give considerable thought to the type of “company” you are and you will either, discover you have a long list of customers or find yourself continuously losing the deal and being a company that comes up last on everyone’s list. Until next time, I am Dr. Anthony Spivey…keep thinking BIG!

What Are You Doing for Stress Awareness Month?

Have you ever wondered why some people seem to tolerate more demands on their time in their lives or in their workplace compared to others in similar circumstances? It all boils down to how they handle the stress present in each of their lives. April is stress awareness month and I would like to add my comments on the subject. Stress is an increased demand on our regular routine brought on by task demands, which causes a “fight or flight” response in our reactions meaning you will stand and address the matter with a productive or counter-productive response or you will avoid the issue all together. Stress is unavoidable in our lives as we all interact with others in some way. While stress is something we must deal with, there are ways to help alleviate the pressures stress can sometimes bring. As a manager, you must learn effective means of handling stress in not only your life your but your employees lives as well.

What about the challenges of everyday life, how well do you respond to the demands on your time? When you think about it, no one likes to fail at tasks because they know people are watching and or depending on their successfully accomplishing a particular task. Yet, this very pressure of potential failure creates a stressful situation for individuals. When a person feels the pressure of increased stress, their coping strategies are the key to managing the stress. Notice I did not say removing the stress, but managing stress. Finding an outlet that takes the attention off the situation is a good mechanism for reducing stress. For example, some people have hobbies they look forward to that can help reduce the stress. Another tactic for reducing stress is humor in the organization appropriately employed by the manager because studies have shown that humor can help reduce high blood pressure, which a continual stressful environment can bring on, and, as we all know high blood pressure is known as the silent killer. Another example for reducing stress for some people is taking a small break from the work area or going out for some fresh air. In other words, whatever makes a person comfortable in addressing the stressful situation (without comprising others’ space) is the outlet that can help reduce their stress and keep them productive.

The question comes up periodically do we need stress in our lives and the answer is a resounding YES! Without some stress, we would not be productive and our efforts would stagnate. Let us look at two categories of stress in the work environment. First, there is distress, which is negative for the organization and causes difficult working conditions for the employees, and the main core or purpose of the organization is halted or reduced. Management must then find ways to counter this unproductive or negative stress for the employees. The second category of stress is eustress, which, is a positive stress in the organization and motivates the employees in accomplishing a task. For example, a friendly type competition between employees gives them the incentive or push to complete a task.

Understanding and managing stress in the organization is the key to keeping productivity high. Next time you notice your employees going through a stressful situation, first try and identify the level or type of stress they are experiencing and act accordingly to address it. Inappropriately managing a situation that is actually eustress can lead you to having to address a situation that has now turned to distress. Again, this all comes down to knowing your employees. As managers, what are you going to do to address stress awareness month? Whatever your choice, be proactive about keeping your employees happy and they will thank you for it! Until next time, I am Dr. Anthony Spivey and I urge you to keep thinking BIG!

Punctuality: An Intangible Asset!

A customer is the lifeblood of your business and just like the continuous flow of blood in our bodies; any reduction in the process or no activity at all can mean an anemic state or possible complete shutdown of the system. Comparing this analogy with your customers being the continuous flow to sustain your business I often wonder why some business owners do not monitor their operational activities more closely to ensure customers can constantly flow in and out of the business according to the scheduled times of operation. Recently I visited a business to finalize a previously scheduled transaction and upon arrival, the doors were not open. The sign on the door clearly stated the hours of operation were 7:30AM – 8:30PM. The result of the business not being open at the schedule time was an inconvenience as I had additional tasks planned for the day.

If you are serious about running a business, being punctual is crucial to its success and you should view punctuality as an intangible asset of your business. You cannot touch or feel punctuality but you can experience the concept when interacting with others. Webster’s dictionary defines punctual at www.merriam-webster.com as arriving or doing something at the expected or planned time. As the saying goes, you only get one chance to make a first impression and this can ring exceedingly loud in situations such as this when you are operating a business. The one customer inconvenienced may very well be the customer that has such an influence that his or her negative experience with your business can have a dramatic effect on its success. As the leader in the organization, you have a duty to model the behavior of punctuality so that it becomes part of the cultural fiber in the organization.

You should hold your employees to these high standards and find ways for them to realize that punctuality is the lifeblood of the business as most often there may be a competitor not far away. Now being punctual does not just mean everyone showing up at the scheduled time of opening; it also means being ready to work at the scheduled opening time. As an example, if your employees walk in the door five minutes before opening and want to get coffee, or talk about last night’s episode on the show everyone is currently watching, granted this takes a few minutes before being ready for customers and employees should accomplish these activities before the opening time. The reality is most customers are not concerned about your prepping activities for the workday. They are there to transact business at the appointed times and move on. In addition, when employees frantically prepare to greet customers because of being late this can sometimes cause stress for both the employee and the customer and result in a bad experience for the visiting patron, possibly giving the impression of an unprofessional business and that is one of the last things you want to display to your customers.

For a fresh start, tomorrow when you open up, whatever the designated start time is at your establishment, be ready to service your first customer of the day at that established time should there be one ready to transact business. This not only gives a good first impression but it also starts the day right! Paying attention to this small but important intangible asset punctuality can help give you the upper hand over your competitors who may still be getting ready to open and service their customers, which is a plus for you so be ready to start on time and I am sure you will be glad you did! Thank you for reading my blogs for small business managers. Until next time, I am Dr. Anthony Spivey, and I urge you . . . keep thinking BIG!

Experienced Only Need Apply!

In my last blog article, I wrote about marketing your small business using the four p’s and anyone in business quickly realizes they cannot do it alone regardless of how talented they may be. When running a business there are just too many tasks to cover for one person to be successful and that is where your team comes into focus. However, where do you find a good team? You can advertise in various mediums such as job sites, career fairs, or college campuses. Yet, I have heard people say more than once that when they apply for a job they are qualified for, the announcement also requires a minimum number of years’ experience and their response is “if no one will give me a chance where do I obtain the experience?” I would like to focus on that thought for a moment. According to get busy media at http://www.getbusymedia.com/vital-small-business-statistics-trends-and-facts-for-2014/ there were 28 million small businesses in the United States in 2014 and over half of the currently employed individuals work for small businesses. It is true that most businesses do require some experience before they will hire a person with even the minimum qualification of say, a college degree. Let's consider a different paradigm to employment.

Imagine if you will a not-so typical employment model where business owners are willing to take on one new qualified employee who does not have the minimum years’ experience, and actually provide them the opportunity to earn the experience. Did I mention there were 28 million small businesses in the U.S. in 2014? Of course, some of you will say the employee would gain the experience and then move on to a new employer, which is a real possibility but there is no guarantee the employee hired with experience will remain for a longer period either. However, if more employers were to practice bringing on a new qualified employee without the typical minimum required years’ experience, perhaps this may help to reduce the short-lived tenure of some new workers in organizations and, for the business owner the new employee may be the “diamond in the rough” taking the business to higher levels never expected!

Employees of today are learning new technology that some business owners have the desire to learn and implement but not the time to obtain and bringing on the new employee can result in a symbiotic relationship between the employer and employee. So business owners; are you willing to take the challenge and possibly take your business to a new high?; are you willing to dare to be different and possibly be the one to find the diamond in the rough, or stick to the standard mantra of “five years minimum experience required?” Going by the former, hiring and nurturing an employee’s experience, the result can become a win-win situation and possibly move your business ahead of the competition. The next time you are contemplating bringing on a new employee, think about how you frame the job announcement and instead of stating experienced only need apply; figure a way to relay the following message, “Need experience? Apply here and let’s grow together!”; you just might be surprised how things turn out by doing something different. Until next time, I am Dr. Anthony B. Spivey, keep thinking BIG!