Gail's Blog
The Person You Never Want To Partner With
June 6, 2010 by admin
Many business owners at some point consider partnering with another business owner. Sometimes it is a collaboration that lasts only long enough to accomplish a specific goal, while at other times it is a longer lasting relationship. In either case, I encourage you to be very careful about who you partner with, and I offer you one tip that some people have to learn the hard way…
Don’t partner with anyone who is “just like you.”
You see, while the business relationship may be stress-free and quite enjoyable, it will almost never lead to outstanding results because the two of you will bring the same skill set to the table.
For example, if you’re a writer, it wouldn’t make much sense for you to partner with another writer because that’s a skill that you already possess. Perhaps you should instead partner with a financial whiz or an IT guy who can complement the talent your business already has in place.
That being said, there are some things you want to have in common with your business partner, including the same level of commitment and integrity, but the items on this list are few in number.
The same advice holds true for personal relationships, but that’s the topic for another blog. 
The Power of the Phone Call
May 23, 2010 by admin
Did you realize that there are companies out there who have a staff person solely dedicated to maintaining their social media presence? It’s true and I’m not sure how I feel about that. You see, while I understand that this is oftentimes necessary these days, there’s something about it that really troubles me…
I admit that I’m “old school”. (But certainly not old!) And I began my career back in the days before the Internet and social media were king and queen of the world. “Back in my day,” as they say, if we wanted to contact a colleague, business partner or potential client, we called them on the telephone. Odd, huh?
Sure, we also mailed letters and sent faxes, but the phone call was almost always the first method we used for reaching out — and I’m glad.
You see, with that phone call I got to know the person in a way that social media, and even email, simply do not allow.
I could hear joy, displeasure, or nonchalance in their speaking voices.
I could tell by their tones what about our conversation they found exciting and what was boring them to death.
I could “hear” them laugh, smile, and groan. And no matter what anyone tells you, no matter of exclamation points or smiley faces or “LOLs” or frowning faces can replace that.
I dare to say that those telephone conversations were a lot more honest and spontaneous than the edited and re-edited messages we get through social media and email.
So while I understand and greatly appreciate the power of social media, I also continue to respect the power of the phone call. Do you? Let’s talk about it…
What President Obama’s Tax Bill Means For Small Business
February 1, 2010 by admin
President Obama today released his $3.8 trillion FY11 federal budget proposal with $17 billion in Small Business Administration 7(a) loan guarantees to help business owners increase access to capital.
We will continue, for example, to do what it takes to create jobs. That’s reflected in my budget; it’s essential,” Obama said in a released statement
The president’s budget package includes $53 billion in tax cuts and $50 billion job-creating measures. Among them are small-business tax cuts, green technology investments and transportation infrastructure programs. It also includes $30 billion in incentives for small businesses that hire new workers or increase wages.
The Obama administration is seeking an increase in the 7(a) loan guarantees to $5 million, up from $2 million in FY10.
The administration is also proposing to allow companies to immediately deduct 50 percent of their qualifying investments, another aspect of his job creation plan. The budget proposal would also allow small businesses to write off up to $250,000 of qualified investments in 2008 and 2009, a provision that would cut taxes by more than $1 billion in 2009 and 2010.
And perhaps one of the most key provisions in the administration’s plan is to permanently eliminate small business capital gains by excluding from taxation 75 percent of the capital gains for investors in small businesses who hold their investments for five years. This provision will save small business owners nearly $1 billion over 10 years. The president’s budget proposes to completely eliminate the capital gains tax on small business stock.
There’s a one-year extension of the Making Work Pay tax breaks, originally delivered as a part of last year’s stimulus package, that will cost $22 billion. The credit resulted in slightly higher paychecks for 110 million families, according to the White House. The budget would make permanent tax cuts passed during the Bush administration for all except high-income households making more than $250,000 a year.
But not everyone is convinced that the White House budget proposal will be good for business.
Senate Minority Leader Mitch McConnell, R-Ky., told CNN on Sunday that Obama’s budget would raise taxes, especially for some small business owners. “If you’re a small business and pay taxes as an individual taxpayer, your taxes are going up,” McConnell said. “So is that a great environment in which to expand employment? I think the answer is no.”
The debate has just begun.
What does a hardworking, underpaid entrepreneur have to be thankful for?
November 23, 2009 by admin
I know what you’re thinking…
You’re a small business owner. You work all of the time and aren’t nearly as much fun as you used to be.
Your business seems to have more valleys than peaks and it’s becoming more and more difficult to remember why you thought this was going to be a good idea.
And now the world wants you to be thankful? For what?
I think that every business owner has felt this way at one point or another, but I know of at least one thing that every entrepreneur can be thankful for — VISION.
Entrepreneurs have a vision, a goal in sight. And we’re willing to work it, breathe it, and live it so that it has a chance to come to life.
If you’re like me, you’ve had several chances this year to do other things. And you, like me, may have wanted to kick yourself at times, wondering why on earth you didn’t grab hold of some of those opportunities.
But the truth of the matter is that you didn’t go for them because those so called “opportunities” were not a part of your vision. And, while they may have been perfect for someone, for you, they simply didn’t make sense.
So, my fellow entrepreneurs, when you consider what you have to be thankful for his year, don’t forget to give thanks for your own unique vision — and for the courage and strength you exhibit every day as you grow your business.
Wow… that’s three things you can be thankful for! Join the discussion and write a few more below…
Hanging Out With My Market
October 26, 2009 by admin
I spent most of last week at the annual conference of the American Association of Retired Persons (AARP).
While I’m not a member yet, I had a ball! And, more importantly, my attendance provided a remarkable opportunity to hang out with members of one of my major markets — seniors. As you may know, a lot of writing is geared toward men and women who are in their in their golden years.
I was able to attend sessions with these folks and could determine some of what worries them, what brings them joy, what interests them, and what makes them laugh.
I was also able to walk the exhibit floor and got a really clear idea of what companies captured their attention and which didn’t. For example, I learned that regardless of age, women love jewelry! And, more seriously, I learned that health care is on our seniors’ minds now more than ever.
I encourage you to do what you can to get up close and personal with your customers and the people you are trying to reach. Nothing beats spending a few days with them to figure out how to position your products and services in a manner that will make them take notice.
