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		<title>Your Prospects are Lying to You</title>
		<link>http://lacobizblog.wordpress.com/2010/01/27/your-prospects-are-lying-to-you/</link>
		<comments>http://lacobizblog.wordpress.com/2010/01/27/your-prospects-are-lying-to-you/#comments</comments>
		<pubDate>Wed, 27 Jan 2010 19:37:02 +0000</pubDate>
		<dc:creator>Matthew Cook</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://lacobizblog.wordpress.com/?p=190</guid>
		<description><![CDATA[You have a product or service. You are trying to market it to the adoring public, who have cash that you want. But the real reasons they want your product may not be the reasons they are telling you. They may not even be admitting the real reasons to themselves. For instance, let’s say you [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=lacobizblog.wordpress.com&amp;blog=7239092&amp;post=190&amp;subd=lacobizblog&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><a href="http://lacobizblog.files.wordpress.com/2010/01/crystal-ball-300x174.jpg"><img class="alignright size-thumbnail wp-image-191" title="crystal-ball-300x174" src="http://lacobizblog.files.wordpress.com/2010/01/crystal-ball-300x174.jpg?w=150&#038;h=87" alt="" width="150" height="87" /></a>You have a product or service. You are trying to market it to the adoring public, who have cash that you want.</p>
<p>But the real reasons they want your product may not be the reasons they are telling you. They may not even be admitting the real reasons to themselves.</p>
<p>For instance, let’s say you own a dog-grooming service. Your prospect tells you the reason he wants your service is because he wants the family dog to be clean and have short hair.</p>
<p>You, in turn, believe him and that is the type of things you address in your future marketing, because obviously that is what your customers want.</p>
<p>The truth may be far deeper. He may not care about the dog, but his wife wants those things. So, the REAL reason he wants your services is so that his wife will stop nagging him!</p>
<p>Now, what is the practical application here? Am I telling you that your next ad should say “Stop Your Wife’s Nagging, Get the Dog Groomed Today”?</p>
<p>No. I can’t give you a specific solution, but I wanted to make you aware of the problem. <span style="text-decoration:underline;">You have to become a mindreader.</span> You have to learn to look beyond what your customers tell you to their real thought processes behind their words. It isn’t easy, I know. But if you are able to get into your prospect’s head, find out what really motivates his behaviour, then your sales will soar.</p>
<h2>How do I get into my customer’s head?</h2>
<p>Well, that’s the real trick, now isn’t it?</p>
<p>Nobody said this marketing stuff is easy. But here are a few pointers.</p>
<p>Remember that your customer is a human being, with hopes, dreams, fears, etc. The first thing I would do is paint a picture of your customer.</p>
<p>I’m not talking about getting out a canvas and brushes and actually making a painting. I mean describe your customer in as precise a level of detail as possible. Figure out who your ideal, perfect customer is. What is his or her life like? What does this person do for a living? How big is his or her family? What does your customer do with free time on the weekends? What is his or her hobby? You may not think these details are important, but they are. A simple distinction between whether you are targeting men or women can mean a tremendous shift in thinking.</p>
<p>You may be saying to yourself “I am an insurance agent. My customers are both men and women.” And that may be true, but you have to decide on one to target. Because the way you communicate with a woman, what her “hot buttons” are, what her fears and dreams are, are vastly different from how you would most effectively communicate to a man.</p>
<p>Once you know all of this information about your ideal customer, you can begin to see what is important to him. Maybe his family is important. Maybe, if he has a good job but no family, then he likes to buy expensive gadgets. Maybe if she is a twenty-something recent college grad, then her focus is on carving out her place in the “real world.” She is afraid that she won’t find a good job and her student loans will come due and she will have to admit failure and move back home with her parents.</p>
<p>These are all things that your prospect may feel to the deepest core of her being, but she would never tell you that. She may not consciously be aware of these reasons and motivations herself.</p>
<p>Don’t just figure out what your customer wants to buy. Seek to understand the true motivations, the reason WHY he or she wants to buy.</p>
<p><span style="color:#000080;"><strong>About the author: </strong>Brent Allan is the “Small Biz Marketing Wiz” who specializes in unconventional marketing methods for small businesses. He is the editor and head honcho for <a href="http://www.bizwarrioronline.com/">BizWarrior Online</a>. He kind of likes this concept of doing a small marketing tidbit every Monday.</span></p>
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		<title>What Do All High Achievers Have in Common?  They&#8217;re S.M.A.R.T.</title>
		<link>http://lacobizblog.wordpress.com/2010/01/20/what-do-all-high-achievers-have-in-common-theyre-s-m-a-r-t/</link>
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		<pubDate>Wed, 20 Jan 2010 05:09:01 +0000</pubDate>
		<dc:creator>Matthew Cook</dc:creator>
				<category><![CDATA[Planning]]></category>

		<guid isPermaLink="false">http://lacobizblog.wordpress.com/?p=185</guid>
		<description><![CDATA[This time of year is busy with goal setting and starting the process of executing plans to achieve goals.  For most business owners, however, the task and art of creating goals is overlooked, or more accurately, simply avoided.  For the most part, the task of establishing goals is avoided because past experience achieving goals has [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=lacobizblog.wordpress.com&amp;blog=7239092&amp;post=185&amp;subd=lacobizblog&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><img class="alignright" title="Dave Verbeten photo" src="http://www.actionmembers.com/public/dynamic/profiles/1659.jpg" alt="" width="105" height="131" />This time of year is busy with goal setting and starting the process of executing plans to achieve goals.  For most business owners, however, the task and art of creating goals is overlooked, or more accurately, simply avoided.  For the most part, the task of establishing goals is avoided because past experience achieving goals has been less than inspirational.</p>
<p>Why is goal achievement so elusive, and so difficult?  It largely rests on the fact that the goals were far too vague, not well thought-out or clear, and therefore, not very compelling.</p>
<p>Being <strong>“S.M.A.R.T.”</strong> can rescue the entire process.  Apply these steps to your goal setting and you will greatly enhance your goal achievement chances. All Goals and Goal setting should follow the <strong>S.M.A.R.T.</strong> process.  In other words, make sure your Goals are <strong>“S.M.A.R.T.”</strong></p>
<p style="padding-left:30px;"><strong>“S” – Specific</strong> – be as specific as you can describing your goals in terms of the “desired outcome”.  What will the future state actually look like?</p>
<p style="padding-left:30px;"><strong>“M” – Measureable</strong> – describe your goals in quantitative terms, so you can check your progress and eventual achievement.  Describe the outcome in units, dollars, degrees, yield, rates, speed, time, or any other “unit of measure” that allows you to gauge progress and know when you’ve reached the finish line.</p>
<p style="padding-left:30px;"><strong>“A” – Achievable</strong> – although goals should stretch the organization and your conventional processes, teams are most inspired and will often overshoot the target if they know there is a reasonable fighting chance to achieve the goal.</p>
<p style="padding-left:30px;"><strong>“R” – Results</strong> orientated – this is related to being Specific and requires that the goal be described in terms of the IMPACT on the organization.</p>
<p style="padding-left:30px;"><strong>“T” – Time-bound</strong> – this is the all important “by when” question.  It is critical that each goal is time-bound by when it needs to be achieved.  Time-bound goals create a sense of urgency and creativity.</p>
<p><strong>“S.M.A.R.T.”</strong> goals increase the probability of success because they provide focus and direction for the individuals, teams and the entire organization.  Check your most vital needs for the year and restate what needs to be achieved in a <strong>“S.M.A.R.T.”</strong> way.  You will improve your odds of achievement by orders of magnitude.</p>
<p><em><span style="color:#000080;"><em><strong>About the author: </strong><a href="../contributors/"></a></em>Dave Verbeten is a certified Business Coach with ActionCOACH, the World’s #1 Business Coaching Franchise (Entrepreneur Magazine, Jan. 2004 &amp; 2005).<em> Dave works out of Libertyville, IL.  You may contact Dave through his <a href="http://www.actioncoach.com/daveverbeten/">website</a></em>, or<em> directly at </em>daveverbeten@actioncoach.com<em>.</em></span></em></p>
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		<title>Consumers Are Self-Centered &amp; That’s Okay</title>
		<link>http://lacobizblog.wordpress.com/2009/11/23/consumers-are-self-centered-that%e2%80%99s-okay/</link>
		<comments>http://lacobizblog.wordpress.com/2009/11/23/consumers-are-self-centered-that%e2%80%99s-okay/#comments</comments>
		<pubDate>Mon, 23 Nov 2009 14:50:51 +0000</pubDate>
		<dc:creator>LaCo Contributor</dc:creator>
				<category><![CDATA[Marketing]]></category>

		<guid isPermaLink="false">http://lacobizblog.wordpress.com/?p=181</guid>
		<description><![CDATA[Should it be of any surprise that consumers think of themselves and their personal needs before the brand they’re buying from?! Not to me… I just read today’s SmartBrief on Social Media - if you haven’t subscribed to this newsletter, please do so ASAP &#8211; it’s great! Below is a link to my video response/reaction [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=lacobizblog.wordpress.com&amp;blog=7239092&amp;post=181&amp;subd=lacobizblog&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p>Should it be of any surprise that consumers think of themselves and their personal needs before the brand they’re buying from?! Not to me…</p>
<p>I just read today’s <a href="http://www.smartbrief.com/news/socialmedia/index.jsp?categoryid=C5DD34C0-D6E1-4763-9D7B-9C373E4F17B8">SmartBrief on Social Media </a>- if you haven’t subscribed to this newsletter, please do so ASAP &#8211; it’s great! Below is a link to my video response/reaction to a study that recently came out from <a href="http://feed.razorfish.com/downloads/Razorfish_FEED09.pdf">The Razorfish Digital Brand Experience Report 2009</a>.</p>
<span style="text-align:center; display: block;"><a href="http://lacobizblog.wordpress.com/2009/11/23/consumers-are-self-centered-that%e2%80%99s-okay/"><img src="http://img.youtube.com/vi/TpJvIonLnYg/2.jpg" alt="" /></a></span>
<p>Take a look at the report yourself as I’d love your thoughts on the findings! Thanks!</p>
<p><em><span style="color:#000080;"><strong>About the author: </strong><a href="http://storyassistant.com/?page_id=18">Matt Batt</a> has been fortunate to work with the very best media relations professionals and interesting clients as founder of <a href="http://www.pipelinemediarelations.com">Pipeline Media Relations</a>, a firm focused on helping connect great stories &amp; resources with various media outlets.</span></em></p>
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		<title>Windows 7 &#8211; A Breath of Fresh Air</title>
		<link>http://lacobizblog.wordpress.com/2009/10/07/windows-7-a-breath-of-fresh-air/</link>
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		<pubDate>Wed, 07 Oct 2009 15:56:11 +0000</pubDate>
		<dc:creator>LaCo Contributor</dc:creator>
				<category><![CDATA[Software]]></category>
		<category><![CDATA[Technology]]></category>

		<guid isPermaLink="false">http://lacobizblog.wordpress.com/?p=177</guid>
		<description><![CDATA[Windows 7 is Microsoft&#8217;s new operating system set to make it&#8217;s debut on October 22nd. Based on my usage over the past few months, Windows 7 is shaping up to be the best OS Microsoft has ever offered. It does more than Vista and most importantly is much easier to use. Sometimes the promise of [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=lacobizblog.wordpress.com&amp;blog=7239092&amp;post=177&amp;subd=lacobizblog&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><img class="alignright size-thumbnail wp-image-178" title="windows_7_graphic" src="http://lacobizblog.files.wordpress.com/2009/10/windows_7_graphic.jpg?w=150&#038;h=150" alt="windows_7_graphic" width="150" height="150" />Windows 7 is Microsoft&#8217;s new operating system set to make it&#8217;s debut on October 22nd.</p>
<p>Based on my usage over the past few months, Windows 7 is shaping up to be the best OS Microsoft has ever offered. It does more than Vista and most importantly is much easier to use. Sometimes the promise of &#8220;new and improved&#8221; turns out to be true after all!</p>
<p>There are real improvements in several areas.</p>
<ul>
<li> Faster bootup</li>
<li> More intuitive user interface</li>
<li> Improved data backup tools</li>
<li> Improved recognition of networks and connected devices</li>
<li> Support for touch screen displays</li>
</ul>
<p>And, it takes less &#8220;horsepower&#8221; (system resources) to accomplish these things.</p>
<p>If you want to make the move to Windows 7, Vista users can perform an upgrade installation (i.e. you don&#8217;t have to reinstall the operating system). Windows XP users however, will have to perform a complete re-installation of the operating system, programs and data.</p>
<p>If you are not happy using Vista then you should consider upgrading sooner rather than later. Remember, besides the financial cost, your valuable time is involved.</p>
<p>Once Windows 7 is officially released on the 22nd, new PC&#8217;s will be available with Windows 7 pre-installed.</p>
<p>One final important note &#8211; All current XP and Vista users qualify for &#8220;upgrade&#8221; pricing. Complete product and pricing details are available at <a href="http://www.microsoftstore.com/">http://www.microsoftstore.com</a></p>
<p><span style="color:#000080;"><em><strong>About the author: </strong>Bill Rush is the owner of <a href="http://www.rushtech.net/">Rush Technologies Inc</a>.  Rush Technologies can help you transform your burdensome technology infrastructure into your most valuable asset. You may contact Bill directly at </em><em>BillRush@RushTech.net<em></em><em>.</em></em></span></p>
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		<title>10 Commandments of Customer Service</title>
		<link>http://lacobizblog.wordpress.com/2009/09/21/10-commandments-of-customer-service/</link>
		<comments>http://lacobizblog.wordpress.com/2009/09/21/10-commandments-of-customer-service/#comments</comments>
		<pubDate>Mon, 21 Sep 2009 16:16:44 +0000</pubDate>
		<dc:creator>Dan Sawchuk</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://lacobizblog.wordpress.com/?p=175</guid>
		<description><![CDATA[These days it seems that we have collectively resigned ourselves to the fact that Customer Service “just ain’t what it used to be”.  What that really tells us is that we all have opportunities to differentiate ourselves from “everyone else” by providing great customer service to our clients.  And from a business growth standpoint, the [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=lacobizblog.wordpress.com&amp;blog=7239092&amp;post=175&amp;subd=lacobizblog&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><img class="alignright size-full wp-image-172" title="10comm" src="http://lacobizblog.files.wordpress.com/2009/09/10comm1.jpg?w=500" alt="10comm"   />These days it seems that we have collectively resigned ourselves to the fact that Customer Service “just ain’t what it used to be”.  What that really tells us is that we all have opportunities to differentiate ourselves from “everyone else” by providing great customer service to our clients.  And from a business growth standpoint, the best source of increased business and referral business should be our current customers and clients.  After all, they are the ones that know us best and should be willing to tell others about us.</p>
<p>With that in mind, we recently sponsored a seminar that provided the following Customer Service tips.  See where you can improve so that your customers become  “Raving Fans” of your business.<br />
<strong><br />
10 Commandments of Customer Service</strong></p>
<ol>
<li>Don’t expect your customers to tolerate customer service mistakes</li>
<li>Always do what you say you will do when you say you will do it</li>
<li>Never, ever make a promise that you are not sure you can keep because promise-breaking is the same as lying</li>
<li>Never try to remember your promises; put them on a task list</li>
<li>Remember that unacknowledged communication is the most profound form of disrespect</li>
<li>Respond to every inbound phone call or email in half the time your customers expect</li>
<li>Review your task list before the end of the day to make sure you have not broken any promises</li>
<li>If it appears that you won’t be able to keep a promise, always re-negotiate before the deadline</li>
<li>Use auto-responders and voice mail greetings to communicate your absence so you don’t appear non-responsive</li>
<li>Communication technology problems are never acceptable excuses for breaking promises, so make sure your technology is working</li>
</ol>
<p>Thank You to <a href="http://www.actioncoach.com/daveverbeten/">Dave Verbeten, of ActionCOACH</a> in Libertyville for the Top Ten list.</p>
<p><span style="color:#000080;"><em><strong>About the author: </strong><a href="../contributors/">Dan Sawchuk</a>, CPA, is a co-founder of the LaCo Business Blog.  Dan is the Business Development Manager with <a href="http://www.accountingfreedom.com/">Accounting Freedom, Ltd.</a> and <a href="http://www.payrollsp.com/">Payroll Specialists, Inc.</a> in Mundelein, IL.  You may contact Dan directly at Dan@accountingfreedom.com.</em></span></p>
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		<title>The Incredible Benefits of Niche Marketing</title>
		<link>http://lacobizblog.wordpress.com/2009/09/08/the-incredible-benefits-of-niche-marketing-2/</link>
		<comments>http://lacobizblog.wordpress.com/2009/09/08/the-incredible-benefits-of-niche-marketing-2/#comments</comments>
		<pubDate>Tue, 08 Sep 2009 16:53:52 +0000</pubDate>
		<dc:creator>LaCo Contributor</dc:creator>
				<category><![CDATA[Marketing]]></category>

		<guid isPermaLink="false">http://lacobizblog.wordpress.com/?p=165</guid>
		<description><![CDATA[Cross-posted from Biz Warrior Online Do you have a niche that you cater to? Are you an insurance agent, or are you an insurance agent that specializes in liability insurance for mobile disc jockeys and musical groups? Recently I was doing some research on federal e-mail marketing laws, and I happened upon a website for [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=lacobizblog.wordpress.com&amp;blog=7239092&amp;post=165&amp;subd=lacobizblog&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><span style="color:#000080;"><em>Cross-posted from <a href="http://bizwarrioronline.com/wordpress/?p=264">Biz Warrior Onlin</a></em></span><a href="http://bizwarrioronline.com/wordpress/?p=264"><img class="alignright" title="Brent Allan" src="http://www.bizwarrioronline.com/Images/characterblog.jpg" alt="" width="128" height="228" /></a><span style="color:#000080;"><em><a href="http://bizwarrioronline.com/wordpress/?p=264">e</a></em></span></p>
<p>Do you have a niche that you cater to?</p>
<p>Are you an insurance agent, or are you an insurance agent that specializes in liability insurance for mobile disc jockeys and musical groups?</p>
<p>Recently I was doing some research on federal e-mail marketing laws, and I happened upon a website for a company that <em>helps winemakers do e-mail marketing</em>.  Talk about a very specific niche. Not liquor distributors, but only people who actually make wine.</p>
<p>At first glance, this may look restrictive. But think about it. If you pick a niche like that, you have several competitive advantages.</p>
<ol>
<li>You can easily become known as an authority in that particular niche or industry.</li>
<li>You can very easily cross-promote other services or products that would be of interest to that niche.</li>
<li>You quickly become acquainted with the specific needs and wants of that niche, so you can service them better than your competitors who are “general practitioners.”</li>
</ol>
<p>Give this some honest thought. If you were considering a product, and had the choice between a generic product and one that is specifically geared to your industry, which would you pick? Research shows that people overwhelmingly choose something that is specifically tailored to them.</p>
<p>How can you adapt this to your business model?</p>
<p><span style="color:#000080;"><strong>About the author: </strong>Brent Allan is the “Small Biz Marketing Wiz” who specializes in unconventional marketing methods for small businesses. He is the editor and head honcho for <a href="http://www.bizwarrioronline.com/">BizWarrior Online</a>. He kind of likes this concept of doing a small marketing tidbit every Monday.</span></p>
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			<media:title type="html">Brent Allan</media:title>
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		<title>The Crazy World of Business Networking</title>
		<link>http://lacobizblog.wordpress.com/2009/06/30/the-crazy-world-of-business-networking/</link>
		<comments>http://lacobizblog.wordpress.com/2009/06/30/the-crazy-world-of-business-networking/#comments</comments>
		<pubDate>Tue, 30 Jun 2009 15:56:38 +0000</pubDate>
		<dc:creator>Matthew Cook</dc:creator>
				<category><![CDATA[Networking]]></category>

		<guid isPermaLink="false">http://lacobizblog.wordpress.com/?p=146</guid>
		<description><![CDATA[Business networking can be a tremendously useful tool &#8211; but it can also be very confusing.  What should I say?  What should I expect?  Is it worth my time and effort to attend networking events?  How do I know what is expected of me? I&#8217;m no networking expert, but I have recently had to process [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=lacobizblog.wordpress.com&amp;blog=7239092&amp;post=146&amp;subd=lacobizblog&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><img class="alignright size-thumbnail wp-image-147" title="Businesswoman with computer cords." src="http://lacobizblog.files.wordpress.com/2009/06/crazy_networking.jpg?w=121&#038;h=150" alt="Businesswoman with computer cords." width="121" height="150" />Business networking can be a tremendously useful tool &#8211; but it can also be very confusing.  What should I say?  What should I expect?  Is it worth my time and effort to attend networking events?  How do I know what is expected of me?</p>
<p>I&#8217;m no networking expert, but I have recently had to process a lot of these questions for myself.  Here are a few of my personal tips for effective business networking:</p>
<p><strong>1) Networking is About Making Contacts, NOT Generating Business</strong></p>
<p>Why so emphatic?  Because other networkers can identify people who are at a networking event just to sell you their stuff or services.  And guess what?  They don&#8217;t usually like it.  There are obviously plenty of exceptions, but in general this is a solid rule.  So if it&#8217;s not about generating business, why bother?  Because the business will follow if you are making good contacts.</p>
<p><strong>2) Identify the Type of Group Up Front</strong></p>
<p>Don&#8217;t be afraid to call someone and ask the questions.  Is the group open to anyone or restricted by category or industry?  Is the group a social meeting or does it actively generate referrals within the group?  Is the group a free gathering or will it require an application and membership fee?  How much is the membership fee and how often can you visit before making a membership decision?</p>
<p>All different types of groups can be effective depending on what you are looking for.  Consider what you need out of networking, and pick the group(s) that work best for you.</p>
<p><strong>3) Tighten Up Your &#8220;Elevator Speech&#8221;</strong></p>
<p>An &#8220;Elevator Speech&#8221; is your 60-second introduction to yourself and your business.  But here&#8217;s a good tip &#8211; you don&#8217;t need to share EVERYTHING in your 60-seconds.  Give an introduction and include a story or testimonial that will make it memorable.  In a networking environment, your introduction will be enough to generate more conversation later with anyone who is interested in what you do.  You can go into all the detail you want at that later point with only the folks who are truly interested!</p>
<p><span style="color:#000080;"><em><strong>About the author: </strong><a href="../contributors/">Matthew Cook</a> is a co-founder of the LaCo Business Blog. Matt owns and operates <a href="http://www.onestopseminars.com/">One Stop Seminars</a>, promoting educational events throughout Lake County, Illinois.  You may contact Matt directly at Matthew.Cook@OneStopSeminars.com.</em></span></p>
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		<title>Your Kid: The Entrepreneur</title>
		<link>http://lacobizblog.wordpress.com/2009/05/29/your-kid-the-entrepreneur/</link>
		<comments>http://lacobizblog.wordpress.com/2009/05/29/your-kid-the-entrepreneur/#comments</comments>
		<pubDate>Fri, 29 May 2009 13:36:18 +0000</pubDate>
		<dc:creator>Matthew Cook</dc:creator>
				<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://lacobizblog.wordpress.com/?p=122</guid>
		<description><![CDATA[Why are you an entrepreneur?  Do you want your kids to know the rush of entrepreneurial success, to gain from big wins, and to learn from big losses? I do. Michelle Fabio wrote a great article called Beyond the Lemonade Stand.  She offers some advice on getting started. No matter what summer business you and [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=lacobizblog.wordpress.com&amp;blog=7239092&amp;post=122&amp;subd=lacobizblog&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><img class="alignright size-thumbnail wp-image-128" title="ScreenShot003" src="http://lacobizblog.files.wordpress.com/2009/05/screenshot003.jpg?w=150&#038;h=150" alt="ScreenShot003" width="150" height="150" />Why are you an entrepreneur?  Do you want your kids to know the rush of entrepreneurial success, to gain from big wins, and to learn from big losses?</p>
<p>I do.</p>
<p>Michelle Fabio wrote a great article called <a href="http://www.legalzoom.com/legal-articles/kids-summer-business.html?cm_mmc_o=wFzbkCjCEwclkwffwyCjCXAEi9EwclCjC_A5Azyfv&amp;&amp;spMailingID=2554467&amp;spUserID=MTM2MjI1NTM4OTIS1&amp;spJobID=72875587&amp;spReportId=NzI4NzU1ODcS1">Beyond the Lemonade Stand</a>.  She offers some advice on getting started.</p>
<blockquote><p>No matter what summer business you and your child decide to pursue, there are some basic things you can do to help get things started:<br />
1. Draw up a business plan&#8230;<br />
2. Know the law&#8230;<br />
3. Get supplies and equipment together&#8230;<br />
4. Help with marketing&#8230;<br />
5. Lay off&#8230;</p></blockquote>
<p><a href="http://www.legalzoom.com/legal-articles/kids-summer-business.html?cm_mmc_o=wFzbkCjCEwclkwffwyCjCXAEi9EwclCjC_A5Azyfv&amp;&amp;spMailingID=2554467&amp;spUserID=MTM2MjI1NTM4OTIS1&amp;spJobID=72875587&amp;spReportId=NzI4NzU1ODcS1">Read the article</a> for specific ideas and more details.</p>
<p>All successful businesses are driven to success by entrepreneurial people.  You may not fit the dictionary definition of an &#8220;entrepreneur,&#8221; but if you&#8217;ve got the bug, you know it.  So how can entrepreneurial parents inspire their children to great things?</p>
<p><strong>1) Be a good example</strong><br />
If you are a good entrepreneur, your kids will likely follow in your footsteps.  If they see you taking risks and reaping rewards (or dealing responsibly with failures) they&#8217;ll catch on.  Kids are like that.  Imagine all the things you wish people had done for you, and then do that for your kids.  Most entrepreneurs have to fight through lack of support from those around them</p>
<p><strong>2) Encourage responsibility</strong><br />
Encouraging responsibility means two things:  It means letting your kid win AND letting your kid lose.  Let your kid make big wins on his or her own, and then teach them how to be responsible with the profits.  And on the flip side, let your kid lose and deal with the consequences.  Bailouts may be all the rage in Washington DC these days, but they have no place in entrepreneurial training!  Think of it this way &#8211; do you want your kid&#8217;s first experience with entrepreneurial failure to come when they are out on their own, trying to feed themselves or their families?  It&#8217;s better to learn the invaluable lessons of failure while living at home with your support.</p>
<p><strong>3) Start early</strong><br />
There is a camp in the &#8220;child raising industry&#8221; that suggests you should shield your child from all &#8220;grown up issues&#8221; as long as possible.  This is nonsense.  There is value to protecting kids from the worst of the world, but teaching them the truth should start at the beginning.  Does your 6 year old want a new toy?  Offer them the chance to weed the garden for the money.  Does your 10 year old want a new bike?  Take them around the neighborhood to offer to rake leaves.  Does your 13 year old want to go to that expensive summer camp?  Suggest they start a business to earn the money.</p>
<p>If you invest the effort to nurture the entrepreneurial spirit of your kids, everyone will benefit &#8211; your kids, the community, and YOU!</p>
<p><span style="color:#000080;"><em><strong>About the author: </strong><a href="../contributors/">Matthew Cook</a> is a co-founder of the LaCo Business Blog. Matt owns and operates <a href="http://www.onestopseminars.com/">One Stop Seminars</a>, promoting educational events throughout Lake County, Illinois.  You may contact Matt directly at Matthew.Cook@OneStopSeminars.com.</em></span></p>
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		<title>The Importance of Acting Formally</title>
		<link>http://lacobizblog.wordpress.com/2009/05/26/the-importance-of-acting-formally/</link>
		<comments>http://lacobizblog.wordpress.com/2009/05/26/the-importance-of-acting-formally/#comments</comments>
		<pubDate>Wed, 27 May 2009 03:54:23 +0000</pubDate>
		<dc:creator>Dan Sawchuk</dc:creator>
				<category><![CDATA[Accounting]]></category>
		<category><![CDATA[Legal]]></category>

		<guid isPermaLink="false">http://lacobizblog.wordpress.com/?p=115</guid>
		<description><![CDATA[Many business owners recognize the advantages of properly establishing a legal entity when they begin their business.  With proper planning and advice in the selection of the appropriate entity, based on specific circumstances and needs, a business owner can achieve important liability protections as well as income tax advantages.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=lacobizblog.wordpress.com&amp;blog=7239092&amp;post=115&amp;subd=lacobizblog&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><img class="alignright size-full wp-image-119" title="James Bond" src="http://lacobizblog.files.wordpress.com/2009/05/screenshot001.jpg?w=500" alt="James Bond"   />Is your business established as an LLC, Corporation or S-Corporation?? Many business owners recognize the advantages of properly establishing a legal entity when they begin their business.  With proper planning and advice in the selection of the appropriate entity, based on specific circumstances and needs, a business owner can achieve important liability protections as well as income tax advantages.  However, many owners do not realize that there are certain &#8220;corporate formalities&#8221; that must be observed on an annual basis (at minimum).</p>
<p>The State of Illinois requires that Corporations and LLCs file an annual report.  The filing of this report is often neglected by business owners, as it is not a calendar year filing, but is due on the annual anniversary date of the establishment of the Company.  The consequences of neglecting to file the report timely can be financial penalties, and ultimately the dissolution of the entity by the Secretary of State.</p>
<p>In addition to the annual Secretary of State filing, a corporation is required to maintain a corporate record book with specific requirements.  The corporate record book must be updated regularly (at least annually), and is most easily maintained by a qualified attorney.</p>
<p>What are the consequences of failing to observe these &#8220;corporate formalities&#8221;?  There are specific cases on record where the corporate veil was &#8220;pierced&#8221;, and liability protections as well as tax advantages were lost due to lack of, as well as improper, recordkeeping.  Did you know that as a standard audit procedure, the IRS requests to review the corporate record book to ensure that it is up to date?</p>
<p>Much like your automobile, home or body, your Company must be properly &#8220;maintained&#8221; on a regular basis.  The choice is yours; contact a qualified accountant or lawyer and pay a few dollars on an annual basis to maintain your Company&#8217;s status, or risk significant financial consequences in the future if your &#8220;corporate formalities&#8221; are not maintained.  Make it a point to begin &#8220;acting formally&#8221; and you will have &#8220;Peace of Mind&#8221; that the business you have built is properly protected.</p>
<p><span style="color:#000080;"><em><strong>About the author: </strong><a href="../contributors/">Dan Sawchuk</a>, CPA, is a co-founder of the LaCo Business Blog.  Dan is the Business Development Manager with <a href="http://www.accountingfreedom.com/">Accounting Freedom, Ltd.</a> and <a href="http://www.payrollsp.com/">Payroll Specialists, Inc.</a> in Mundelein, IL.  You may contact Dan directly at Dan@accountingfreedom.com.</em></span></p>
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		<title>Twitter for Businesses</title>
		<link>http://lacobizblog.wordpress.com/2009/04/30/twitter-for-businesses/</link>
		<comments>http://lacobizblog.wordpress.com/2009/04/30/twitter-for-businesses/#comments</comments>
		<pubDate>Thu, 30 Apr 2009 19:47:28 +0000</pubDate>
		<dc:creator>Matthew Cook</dc:creator>
				<category><![CDATA[Advertising]]></category>
		<category><![CDATA[Networking]]></category>
		<category><![CDATA[Technology]]></category>

		<guid isPermaLink="false">http://lacobizblog.wordpress.com/?p=104</guid>
		<description><![CDATA[A few weeks I signed up for a Twitter account. I haven&#8217;t touched it since. I just don&#8217;t get Twitter.  I thought I understood &#8220;online social networking&#8221; &#8211; things like Facebook and LinkedIn had obvious potential as business tools.  But when Twitter came along, I simply did not get it. I have certainly not become [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=lacobizblog.wordpress.com&amp;blog=7239092&amp;post=104&amp;subd=lacobizblog&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
			<content:encoded><![CDATA[<p><img class="alignright size-thumbnail wp-image-112" title="bird" src="http://lacobizblog.files.wordpress.com/2009/04/screenshot003.jpg?w=150&#038;h=106" alt="bird" width="150" height="106" />A few weeks I signed up for a <a href="http://twitter.com/">Twitter</a> account.</p>
<p>I haven&#8217;t touched it since.</p>
<p>I just don&#8217;t get <a href="http://twitter.com/">Twitter</a>.  I thought I understood &#8220;online social networking&#8221; &#8211; things like Facebook and LinkedIn had obvious potential as business tools.  But when <a href="http://twitter.com/">Twitter</a> came along, I simply did not get it.</p>
<p>I have certainly not become a <a href="http://twitter.com/">Twitter</a> expert in the past few weeks, but I did come across a handy news article written for people like me&#8230; and maybe you: <a href="http://www.foxnews.com/story/0,2933,518481,00.html">ABCs of Simple Business Outreach Using Twitter</a></p>
<blockquote><p>There is no social networking service in existence that has the reach and the immediacy provided by Twitter&#8217;s highly advanced search function. There isn&#8217;t a search engine in existence that provides Twitter&#8217;s real-time updates for any world event or the latest thoughts on any topic.</p>
<p>Setting up an account and beginning to &#8220;tweet&#8221; (writing posts limited to just 140 characters) is very simple, but there is a lingo that needs to be learned along with preliminary tips.</p></blockquote>
<p>And incidentally, kudos to the author of this article.  She proves that by investing a little time and writing a great press release, couched as a news article, you can get published on and linked to from the front page of a highly-trafficked website!</p>
<p><span style="color:#000080;"><em><strong>About the author: </strong><a href="../contributors/">Matthew Cook</a> is a co-founder of the LaCo Business Blog. Matt owns and operates <a href="http://www.onestopseminars.com/">One Stop Seminars</a>, promoting educational events throughout Lake County, Illinois.  You may contact Matt directly at Matthew.Cook@OneStopSeminars.com.</em></span></p>
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