How2Business with Lead Consultant Shaphan Roberts

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2013-04-18T08:56:00.000-07:00

How To Business... Practical Application: BizBit #4- Understanding Your Value... with Shaphan Roberts

2011-02-27T18:28:00.000-08:00

Practical Applications: BizBit #4 - Understand Your Value

When I say to "understand your value" I'm not referring to intrinsic value, but hard tangible verifiable value.

For example, my wife and close friends may think my advice is priceless, but in all reality it has a real value. That value was determined by assessing the market and comparing services and prices offered by other consultants with a similar track record and experience. Another bench mark I used was attorneys, they have a cut a dry fee structure. However, since I'm not an attorney I had to come in under what they charge for similar services.

Once you've done the research to establish a value you know what is fair. This way you're better equipped to defend your cost point if necessary. You also have better bench marks with regard to offering sales and discounts to favored customers, etc.

In closing, understanding your value keeps you grounded and helps to maintain proper perspective. With a clear grasp on your value you won't price yourself too high so that you're out of the market, but you won't sell yourself to cheaply out of ignorance.

Understanding these important points will help you navigate your way to future success.

H2B

Business Channel: http://www.blinkx.com/channel/How2Business

How To Business... Practical Application: BizBit #3- Communications & Networking... with Shaphan Roberts

2011-01-21T12:51:00.000-08:00

Practical Applications: BizBit #3 - Communications & Networking

Everyone promotes the virtues of networking and I too agree with its value.

Equally important are the rules associated with networking. When you're at a function and you're engaged in a conversation that's the time to make the most of that moment. This is not the time to scan the room for who else is present, looks better or is more important.

The saying " a bird in the hand is worth two in the bush" is relevant here. The current discussion is equivalent to your "bird in the hand" and you want to make a maximum impact with that contact.

Conversely, if your attention seeps past your present conversation, the disrespect is palpable and the thing you hoped to achieve (to network) is now working against you; don't let that happen!

Secondly, reach out and touch someone. Following up is key, I can't count the times I walked away from a convention with dozens of potential contacts that went no where because I didn't follow up. So essentially, you could say the convention or event and the conversations had were a waste of time.

So when networking stay focused, have one conversation at a time and stay in touch with your contacts. It really is that simple!!

H2B

Practical Applications: BizBit #2 - Be The Successful You!

2011-01-04T15:04:00.000-08:00

Practical Applications: BizBit #2 - Be The Successful You

It's typically not the information, but how the information is packaged that creates the most impact.

For instance, if John Doe tells you about a particular product that is good for your heart/health etc., you may listen, but if Dr. John Doe tells you the same thing you're more likely to go out and buy the product. The difference was the messenger.

In business, you want to be the most credible, professional "you" possible because ultimately YOU are the messenger for YOUR business, service or product.

We all have a perception of who we hope to become in the future...an important key to success is putting a piece of that "future you" in place with each step you take. There is really no secret here, if the" future you" is well read, articulate and cultured and the "current you" has got a deficit in those areas; then you need to pick up some books, take a speech class and brush up on your art history.

Nothing changes unless you change it, don't talk about it, be about it!

H2B
www.youtube.com/How2Business

How To Business... Practical Application: BizBit #1 - You Don't Need What You Don't Have

2010-12-21T22:23:00.000-08:00

Practical Application: BizBit #1 "You Don't Need What You Don't Have"

START RIGHT WHERE YOU ARE...
Many entrepreneurs place their success outside of themselves by constantly obsessing on what they don't have.

I like to call this trait "paralysis analysis" and it is NOT conducive to forward moving progress.

By obsessing on what you don't have, you don't realize what you do have and for some, this constant obsession is really a mask hiding a fear of failure (more on this later).

Take The First Step & Start Right Where You Are. You will find you have more than you might have thought.

Money is not the only resource necessary in getting a business started.

As an entrepenuer, I have often found my self in situations with limited resources. Consequently, I have found ways to become extremely efficient with the resources on hand. With that knowledge I have excelled and have been able to bring tremendous value to future opportunities when resources were not an issue.

The key to being successful is being resourceful!
I believe it was Mother Teresa who said "We have done so much, with so little, for so long, we are now qualified to do anything, with nothing."

H2B
www.youtube.com/how2business

How To Business... Business Ethics: BizBit #4 - Under Promise & Over Deliver

2010-12-07T22:00:00.000-08:00

Business Ethics: BizBit #4 - Under Promise & Over Deliver

This probably should be called "keep your promises and over deliver".

By no means do I suggest you under sell yourself or services to potential clients. Quite the contrary, I urge you to be plain spokenly practical about the service you can provide and the time frame you can deliver - then work like maniac on caffeine to over perform.

When you operate this way you have only upside to gain, if something unexpectedly comes up that impedes progress you'll, more than likely, remain on schedule and deliver as promised and if things go like clockwork and as planned you'll come out looking exceedingly competent. You should strive to put yourself in win-win positions like this.

I speak a great deal about reputation and the value of your word; over performing will go a long way in helping you solidifying a great reputation in business.

H2B
www.youtube.com/How2Business

How To Business... Business Ethics: BizBit #3 - Your Word ---- Be About It!!

2010-12-07T21:40:00.000-08:00

Business Ethics: BizBit #3 - Your Word, Be About It!!

A wise man told me" if the mans word is no good, the man is no good" and I couldn't agree more.

In business, especially when you are starting out, if you simply do what you say you are going to do people will gravitate to you. Your clients will continue to come back and bring referrals which is essentially the foundation of success for any business.

I have clients that I have worked with for years; I am sure they could find someone who is less expensive, but they remain because our relationship has been established in trust. I find the typical response to not having trust in business to be an iron clad contract.

I agree with "putting everything in writing" but I've also seen people spend large sums trying to enforce those "iron clad" contracts.

Work with people you can trust and remember A contract is only as good as the persons signing it.

H2B
www.youtube.com/How2Business

How To Business... Business Ethics: BizBit #2 - Be Honest - Don't "Fake It Till You Make It"...

2010-11-22T13:48:00.000-08:00

Business Ethics: BizBit #2 - Be Honest - Don't "Fake It Till You Make It!"

Be honest about where you are, because the truth will come out eventually.

People will respect the fact that you are honest and therefore trustworthy, these attributes will secure your future prospects for business.

Conversely, when associates discover you've been "faking it" the respect level quickly diminishes and bad news travels fast.

My strong recommendation is to stand confidently where you are while working toward the future.

H2B
www.youtube.com/How2Business

How To Business... Business Ethics: BizBit #1 - Stay Away From The Grey Areas

2010-11-15T18:36:00.000-08:00

Business Ethics: BizBit #1 Stay Away From The Grey Areas

I would encourage anyone in business to have an honest discussion with themselves and/or partners prior to doing their first transaction.

This should be a frank discussion about parameters, boundaries and what practices are acceptable and which ones are off limits.

Opportunities will present themselves constantly and after you've had that heart to heart you will be better equipped to place each one in the category it belongs. There are so many ways to do legitimate, honest business and the potential cost for operating in the grey doesn't justify itself.

A ruined reputation or jail time will cost more in the long term than any amount of short term gain.

In business remember... If It's Grey, Stay Away!!

H2B
www.youtube.com/how2business

How To Business... Working With Others: BizBit #4 - Choose Your Partner Wisely

2010-11-10T19:23:00.000-08:00

WORKING WITH OTHERS: BizBit #4 - Choose Your Partner Wisely

Choosing a partner in business is not necessarily as important as choosing the right life partner, but the same vetting process should occur. You should make sure you can work in pressure or tense situations together.

Undoubtedly along your path to success in business you will encounter challenges along the way; if the two of you fracture at the point of impact the partnership is bound for failure.

You should agree on a plan of action, or at least the general direction for the growth and future success of your business. One of the worst things you could do is to partner up with someone that doesn't agree on the direction to move the business or differs in opinion of how they view the development of the industry you're in... How can two walk together except they agree?

Another key point to consider in business ethics and personal values is that you want to make sure your partner shares a similar value and moral system.

For example, if you're not ok with back door deals or operating in ethically gray areas you should make sure your partner feels the same way about the situation.

The last point I want to discuss is equal value contribution. This is very important. The key to long term happiness in a business partnership is equal value contribution. Once the money starts flowing and then equally divided among the partners the truth will emerge. If one partner feels they've done more than the other, but they are getting paid the same amount, that's the beginning of the end. You should agree in advance about duties and responsibilities to avoid
any confusion later.

Ultimately, if you move cautiously into any partnership and weigh options carefully and objectively you will be fine.

H2B
www.youtube.com/How2Business

How To Business... Working With Others: BizBit #3 - Don't Rely On Only One Source

2010-11-08T15:56:00.000-08:00

Working With Others: BizBit #3 - Don't Rely On Only One Source

Most people don't like to be caged in and that's what happens when you leave yourself with limited options.

Having only one source puts you at so many disadvantages it's never good and even if it's not bad it could have been better.

Here are just a few things that can happen as a result of limited options:

1) You give up any leverage you might have had during negotiations

2) You place yourself in a position to be pinched by time constraints by creating a "Vegas or Bust" scenario

3) You open yourself up to be held hostage on pricing and service

Often times you'll find that as negotiations move along some options eliminate themselves, but it's wise to actively cultivate more choices to balance out the attrition.

Having multiple options gives you the power of choice and psychologically keeps you out of the desperate / needy zone.

The result is a calm, cool, collected negotiation that keeps you in the drivers seat...

H2B
www.youtube.com/How2Business

How To Business... "Working With Others" - BizBit #2: Working With Intermediaries

2010-11-05T13:35:00.000-07:00

Working With Others- BizBit #2: Working with Intermediaries

They go by many names: Middle Men, Brokers, Deal Facilitators or Intermediaries.... all positions between you and the goal.

It's important to understand these people play a large role in business transactions on a day to day basis.

You successfully interfacing with them can be the difference in a "deal done" and a "dead deal".

It helps to understand the difference between a broker and a principle contact. Typically, a broker's value is in who they know not what they know, while a principle player's value is the opposite, it's what they know not necessarily who they know.

Nonetheless, the broker position is essential in getting certain deals done because they are the common point between you and potential opportunity. As in most relationships respect and communication are key values here...

Respect the position of the intermediary and clearly discuss and communicate what the compensation will include if and when the deal is consummated. Respecting these simple guidelines will allow for productive interactions with intermediaries.

H2B
www.YouTube.com/How2Business

How To Business... Working With Others: BizBit #1 - Be Nice To The Gate-Keeper

2010-11-03T19:31:00.000-07:00

Working With Others: Bizbit #1 - Be Nice To The Gate-Keeper

You should always be nice, but especially to the front desk and assistants; the reasons are primarily because their opinions count too.

If treated poorly it could damage the future of your business relationships and people in these positions may not always be just "gatekeepers".

The latter is what I want to focus on, the gatekeepers typically graduate to being the ones on the inside of the gate. Sylvia Rhone, now one of the most powerful people in the music industry, started out as a receptionist and Albert Einstein started as a patent clerk.

The point is everybody starts somewhere, box boys graduate to driving Boxsters and calling the shots and if being nice is who you are, you'll be nice all the time, but in business, often times, it really does pay to be nice!

H2B
www.YouTube.com/How2Business

How To Business... Negotiation & Deal Structuring: BizBit #6 - Concessions & How To Use Them

2010-11-01T13:10:00.000-07:00

Negotiation & Deal Structuring: BizBit #6 - Concessions & How To Use Them

Concessions are a part of any deal that requires structuring or negotiation worth having, concessions are a reality of business. Since we know concessions will happen we should work to use them as a tool to aid us throughout our negotiations.

It's important to find a balance you don't want to roll over and you don't want to be too inflexible. As you give something you should get something, its an exchange.

Look to attach what you are asking for to conditions and parameters of the agreement.

For example, fed ed offers a service to send packages across the u.s the price is attached to speed of delivery and weight of package. If you want FedEx to work harder you pay more, its as easy as that.

See yourself in a similar fashion have a price, but be willing to flex and use concessions as a tool to advance your position in the deal.

H2B
www.youtube.com/How2Business

How To Business... Negotiation & Deal Structuring: BizBit #5 - Be Fair

2010-10-29T11:46:00.000-07:00

Negotiation & Deal Structuring: BizBit #5 - Be Fair

If you've ever had someone pay you begrudgingly or with an unpleasant attitude you understand why being fair is very important in business. You can take a nice person, lock them into an unfair agreement and watch how the relationship deteriorates.

Not saying to give away the farm, but you really need to understand the value of what you're offering in exchange for what you take.

If you establish a reputation of being fair, business will happen more effortlessly for you.

Admittedly, fair is a subjective word. It still represents something to strive toward.

How is fair determined, you might ask. It's simple and boils down to what mothers have been telling their children for ages, "treat others as you'd like to be treated".

The result will be long lasting business relationships that are based on a solid foundation, with equitable exchanges.

H2B
www.youtube.com/How2Business

How To Business... Negotiation & Deal Structuring: BizBit #4 - Creating Value

2010-10-27T17:10:00.000-07:00

Negotiation & Deal Structuring: BizBit #4 - Creating value

Whenever and wherever possible you want to create value for your clients and point out value propositions during negotiations.

Creating value does a few things; it builds trust, fosters a sense of collaboration and not competition while increasing your value in the eyes of the client.

All these aspects are essential to gaining the most productive outcome in your negotiations.

A little value will take you a long way....

H2B
www.youtube.com/how2business

How To Business... Negotiation & Deal Structuring: BizBit #3 - Justifying Your Position

2010-10-25T14:48:00.000-07:00

Negotiation & Deal Structuring: BizBit # 3 - Justifying Your Position

No one likes to hear "because I said so" and that's tantamount to what you are saying when you take a position in a negotiation without a solid, justifiable reason.

When you give a reason, your telling the other side I respect you enough to let you in on how I arrived at my decision. You also invite discussion regarding alternate ways around particular issues.

Consequently, the other side will feel obliged to extend the same courtesy to you and pragmatic reasoning will always help a negotiation go more smoothly.

H2B
www.youtube.com/how2business

How To Business... Negotiation & Deal Structuring: BizBit #2 - Make The Other Side Feel Good

2010-10-25T13:16:00.000-07:00

Negotiation & Deal Structuring: BizBit # 2 - Make The Other Side Feel Good

You might have heard the saying "you win more bees with honey", well it's true.

Being nice and listening will take you a long way, people want to work with people they like and can talk to.

Additionally, if you can truly understand what the other side needs and provide a plausible solution for them, inevitably you begin to work together as partners and not advisaries.

If you can accomplish this during the negotiating process the outcome will be a winning one.

H2B

www.youtube.com/how2business

How To Business... Negotiation & Deal Structuring: BizBit #1 - Managing Expectations

2010-10-21T01:07:00.000-07:00

Negotiation & Deal Structuring: BizBit #1 Managing Expectation

Managing expectation is really what negotiating is all about.

For instance, when you walk into a car dealership all starry eyed and excited the salesman smells blood in the water. Conversely, when you walk in with price print outs from other dealers, some online stats, etc., you're telling the salesman you're in no hurry and he has work to do.

Guess who leaves with the better deal?

Understanding this important skill will take you a long way in business...

H2B

How To Business... Unspoken Rules: BizBit #5 - Greed, The Dirty Deal Killer

2010-10-18T22:44:00.000-07:00

Unspoken Rules: BizBit #5 - Greed, The Dirty Deal Killer

Greed, The Dirty Deal Killer...

100% of nothing is nothing and that's what you'll end up with when greed starts talking.

Learn to take bite sized pieces, a little success goes a long way and justifies a larger piece of the pie next time around.

Greed is based in having an inflated sense of self worth. Be realistic and ground yourself before reality does it for you.

Take one step at a time and don't be greedy.

H2B

How To Business... Unspoken Rules: BizBit #4 - Don't Be Desperate

2010-10-18T13:14:00.000-07:00

Unspoken Rules: BizBit #4 - Don't Be Desperate

Desperation...

Don't be... Desperation seeps through every pore and quickly sours any deal.

Even if you are feeling desperate and don't know where your next meal is coming from, learn to segregate, compartmentalize and focus on the task at hand. In all reality, you don't want the people you hope to do business with feeling sorry for you and you don't want their sympathy.

Favors and hand outs are for charity, if you want to do business step to the table and leave need and desperation behind.

Subscribe to our Free Business Channel - www.youtube.com/How2Business

H2B

How To Business... Unspoken Rules: BizBit #3 - Be Careful Of The Coat Tails You Ride In On...

2010-10-14T01:00:00.000-07:00

"Unspoken Rules" BizBit #3

Be careful of the coat tails you ride in on... "Birds of a feather flock together".

Whether this is true or not, in business perception is reality and if you're associating with an undesirable crowd expect to curry the same favor they get.

Ideally, you want to associate with people that are doing what you hope to do and share similar ethics, morals and value systems...you'll be better off in the long run.

www.youtube.com/How2Business

Until Next Time...

H2B

How To Business... Unspoken Rules: BizBit #2 - Respecting Protocol & Developing Strategy

2010-10-11T15:27:00.000-07:00

Biz Bit #2 Respecting Protocol & Developing Strategy:

Getting into a business clique or tribe may require some strategy and typically requires a connection or point person. It's important to maintain integrity and respect by making sure the person who provided the point of connection is taken care of, it's good manners and good business.

If you handle all of your contacts respectfully you will gain increased value from the group that they are connected to.

Even though no one says it, people pay attention to how you treat other people.

Learn more about strategy and protocol here: www.youtube.com/How2Business
or Click on our Video Links in our Blog.

H2B

How To Business... Unspoken Rules: BizBit #1 - Cliques & Tribes

2010-10-10T19:14:00.000-07:00

Unspoken Rules: BizBit #1 - Cliques & Tribes

In business there are many unspoken rules, things you don't learn in school but heavily affect the way we do business.

It's human nature to gravitate toward people with shared similarities. Before civilization there were tribes, in high school there are cliques and in colleges there are fraternities and sororities so in business you can expect more of the same.

On one hand it can seem like common sense, on the other if you don't understand that these groups do exist you could find yourself making slow or no progress in business....on the outside looking in.

Learn more about Cliques & Tribes here: www.youtube.com/How2Business
*Or Check out our video links posted on our blog.

H2B

How To Business... Introduction

2010-10-10T00:14:00.000-07:00

Welcome to the How To Business Blog. Each week we will be posting new bits of information called "BizBits" that are designed to help entrepreneurs along their path to success.

Our goal is to share advice and experience hoping to help others accomplish their dreams and goals a little bit quicker.

When I first got into business things really weren't that clear. I bumped around in the dark learning lessons through hard experiences. Opportunities that seemed easy to navigate and should have been" plug and play" became extremely elusive when I got under the layers.

As they say hind sight is 20/20, I now have a much better understanding as to how and why these things in business happen and would like to share some insight.

Hopefully you'll find it helpful.

H2B