POSITUS Points

HOW TO WORK THROUGH A TOUGH WEEK

2009-01-16T09:04:00.001-08:00

This week has been a tough one for me. I am in a holding pattern with most of my projects, waiting for things to be done on the client end. I drove all the way to Columbia on Tuesday to meet with a very motivated prospective client, who had been all over me for my help at our initial interaction. I drove 2 hours. In the rain. I got there and she said, "Who are you again?" Sigh.
To top it off, yesterday I found out some very disturbing news about a former friend, putting me in a state of "do I reach out or do I lay low?"
Oh, and I made Michael very mad at me yesterday morning. It was completely deserved.
While I could go on and on, it is always funny how the business and personal seem to intersect at the same time.
Here's what I've done to combat a blah week, both professionally and personally.
1. I finished my certified management consultant application. I have been dawdling with it for over a year, wondering whether or not to proceed. Full speed ahead!
2. I'm on track with my one BIG thing project and got some very good advice this week.
3. I had a bold ancillary business idea and have already taken steps to make it happen. Without questioning instincts or dragging my feet.
4. I finished the saga of Eleanor of Aquitaine and now feel suitably charged up to kick some rear end.
5. I crossed most of the things off my to do list for this week, with the remainder being easily do-able.
6. I got approved as a vendor on a major municipal listing service, primarily to provide strategic planning and feasibility study services.
As a small business owner, combating a frustrating week (or month, or year, or decade) requires more emotional stamina than can possibly be imagined. In my list above, I've done both personal and professional things to check my attitude and put myself back on track.
I queried the folks on Twitter and Facebook for input on this issue. Here are some of the responses I received:

Reese McFaddin, owner of Workplace Benefits: "When it gets crazy, I take Baxter (her dog) on a walk by the river for about 15 minutes. When I come back, I feel recharged."
www.benefitwork.com

Cheryl Smithem, owner of Strategic Marketing & Public Relations: "I remember that I love what I do. This too shall pass. The solution is already here inside me. Hard times teach me things. I ask for help." www.charlestonpr.com

Tonia Flores Speir, owner of the advertising agency CASE Solutions: "How can I NOT comment on this one! It starts with good friends to listen. Good business mentors that help you justify and focus. A mocha from Starbucks. My favorite Yankee candle burning on my desk. A deep breath. A cocktail. And the faith within that with every door closed is a new one opened."
www.casesolutions.com

What do you do as a small business owner to pull yourself out of the occasional (or frequent) blahs? However we receive your answers, we will update this post to reflect them with credit.

TIME TRACKING = A SUCCESSFUL FIRM DIET

2009-01-15T06:36:00.000-08:00

A few days ago, I received a request for commentary on a topic via Twitter. Cheryl Smithem, a public relations professional in Summerville, SC, forwarded me a link: a creative services firm was extolling the virtues of throwing away time sheets and not tracking time to specific projects. Cheryl wanted my perspective.
An analogy is the best place to start with this complex issue. Some people never have to diet or watch what they eat. The rest of us privately seethe with envy and either make good eating choices or do not. I fall solidly in the "rest of us" category.
When I entered my thirties, I weighed 119 pounds. Really. Now that I'm staring at the big 4-0, I weigh around 140ish. Several years ago, I decided that I did not care for this trajectory and signed up for Weight Watchers points tracking online.
Revelations abounded. I never knew that having a piece of chocolate cake would mean that I would either be at the gym for 24 hours in a row or could not eat for 2 days thereafter. I relentlessly stalked my husband around the kitchen, measuring every little dose of butter and oil that he wanted to add to a dish. Never had I consumed so many crunchy, good-for-me vegetables. I reorganized the way I ate, made better choices, and started to see results almost immediately.
After a couple of months, I started to slip in my points tracking. Keeping up with all of this data was a complete pain. My husband was going to stab me with a carving knife if I asked him to cut the butter down one more time. I truly thought I would die if I had to eat edamame with no salt again. I stopped tracking points, thinking that I had learned enough about the process to monitor my food intake without it. What a relief!
Result: abject failure. I regained all the weight I'd lost within a month. Without knowing details, it was so easy to cheat on my food intake. I couldn't compute how much activity I needed to incorporate into a day, and I routinely (and very conveniently) "forgot" things I'd consumed. Tracking points was truly the best way for me to measure my success and to hold myself accountable for my eating choices.
The same is true of tracking time to a project or job. I say this despite working in public accounting for 11 years, where I had billable hour quotas that went up routinely. While I completely agree that the "billable hour mentality" is self defeating and ultimately does not focus on yielding value to a client, tracking time to a project is an absolute necessity and provides valuable information, whether or not the time is actually billed.
Tracking time to a project helps ensure that you as a professional are charging enough for your services. When I have forced my creative clients to track their time, they are always amazed to learn how much time they spent on a job compared to what they quoted for it. That data alone has given several of them the confidence to charge more for their services, because they could see how little they were truly making.
Without time records, it is impossible to assess whether or not fees are in line. Making decisions based upon the level of money in the bank or by following what others in the field are doing is not good enough. Evaluating historical records of both the time and cost components of each job provides critical information about whether or not certain services are worth continuing or if they could be revamped.
Time sheets give useful data for mentoring newer people. Instead of forcing people to bill a certain number of hours a week and then writing it all off, senior people should take time data from juniors and identify learning opportunities. If a junior person routinely spends 15 hours on a task that should only take 5, they obviously could benefit from some instruction. That coaching and correction contributes to a more collaborative environment, more focused and efficient workers, and more net profit on each project.
In the absence of time details, it is a challenge to determine proper allocation of labor resources. Some people have a knack for always looking busy, whether they are or not. During a crunch, time information can lend insight into who may really be available to help. Additionally, cumulative data about what a person has contributed to different jobs can provide a concrete reason to keep someone or let them go.
Regardless of the agreement made with the client up front, disagreements over work performed happen every day. When a dispute arises, time sheets are a contemporaneous record of what was done over the life of the job.
Time sheets add a dose of business reality. We never think we spend as much time on things as we actually do. Time spent is a key benchmark for determining when to wind up a creative process. It provides structure to a process that could never really be finished, as one can have ongoing light bulb moments in creative mode.
It is a mistake to make the focus of work all about billable time, but it can be equally disastrous to choose not to track it at all, no matter how good it feels. As with my weight loss analogy, tracking time does not shift the focus from the good outcome of value provided to the customer. Rather, I argue that it is a firm's point system, yielding concrete, measurable, dynamic tools for perpetual improvement in internal processes, communication and overall client service. Used correctly, your firm will be leaner, will be healthier, and could have a fatter bottom line. That’s fat we all want.

WORKING WELL IN A CHALLENGING ECONOMY

2009-01-13T14:45:00.000-08:00

Anyone who knows me well will tell you....I am petrified of heights. Last summer, I went hiking in the mountains with my husband, and we chose a previously unexplored trail. It sloped downward pretty steeply toward some body of water we could clearly hear. When we reached what I thought was the bottom, it meandered along next to a tame creek for a bit until the trail evaporated on a tiny ledge jutting out over a roiling chasm. I had a panic attack and feared my imminent demise.
My husband had other plans, though. He wanted to hike to the bottom of the roiling chasm, basically along the side of a sheer drop that offered little for me to hold onto. Gamely, I inched my way along, looked down, and then gripped the side of the mountain with all my might and cried, "I can't move! You're going to have to leave me here!" (Yes, people, I was literally crying.)
Well, I eventually made it to the bottom thanks to much forbearance from my husband. It was worth every second of terror as the rocks opened up into a pool facing an exquisite waterfall. We spent the afternoon there, mainly because it took that long for me to amass the courage to climb back out.
Doing business can feel this way sometimes, particularly in today's uncertain environment. What worked well two years ago may not produce results today. Many small business owners are just waiting to hit bottom and hope they make it from there. In this issue, I've outlined a few things a small business owner can do to cushion themselves and even continue to grow.
Make smart decisions. The margin for error is not what it was two years ago. A bad decision can mean the end of business today, as the credit markets tighten and customers are harder to come by. Clearly evaluate what you want to accomplish, budget for how to get there, set benchmarks, and enlist help when you need it.
Get rid of all dead weight. In a robust economy, many small business owners put off cutting fat because it is hard. Today, we don't have that luxury. Most of the hard decisions are ones that have been postponed. Make a list of the nagging problems you've had over the past couple of years, along with concrete actions to deal with them.
Evaluate your business mission, objectives and product/service mix. Your offerings may require small tweaks or serious adjustments to weather this downturn. Listen to what your customers/clients are telling you by what they choose to purchase today. Make adjustments accordingly. You will likely find a better, more efficient way of doing business for the long-term.
Keep on promoting your business in a proactive manner. Jettison any advertising that does not produce results. Refocus those resources on things that have historically led to more revenues, keeping in mind the changes you made from earlier paragraphs.
Focus on the positive and celebrate small successes. Your competitors are likely still staring at the chasm and having their panic attack. Remember that any change, well navigated, can lead to strength and many rewards. We're here to help, every step of the way.

Twitter Status Updates to Facebook? We Say YES!

2009-01-07T11:02:00.000-08:00

I must admit that I am relatively new to the whole Web 2.0 thing. I joined Facebook about 18 months ago and found about five souls I knew. As for Twitter, I've been an active user of it for 3 or 4 months, still very much an "early adopter."
My guru of all things Web 2.0 is Lyn Mettler (www.stepaheadwebstrategies.com). She advised me to actively use these tools and others for business purposes. Since I started a Facebook business page, linked my blog and began "tweeting," I can directly track several clients to Web 2.0. Additionally, I make connections that would likely not happen by any other means. Web 2.0 is a phenomenal ice breaker.
Having said that, populating my information on these services has been a constant struggle for me. Am I revealing too much about myself? Do I talk too much? Do people hate what I put out there? These and similar neurotic misgivings have, at times, made me feel like I'm in high school again. (I will be 40 this year.)
Several months ago, I linked my Twitter account to my Facebook status. Because I normally make between 2 and 15 status updates per day, I did not believe my chatter on Facebook would be excessive. When I was stranded in an airport over Christmas, I found out differently.
Basically, I vented to my Twitter account about my travel snafus. On Twitter, this was completely fine. People who use Twitter understand that using it is the point. On Facebook, I got several comments from people who didn't understand the Twitter thing and felt inundated with information from me. (Cycle back two paragraphs. Neurotic behavior ensued.) I disconnected my Twitter account and went back to dual status updating.
After a week, my Twitter account is reconnected to my Facebook status. First, I get more commentary on business questions from Facebook currently than I do from Twitter. Because that commentary becomes the basis of my blog posts, I need the additional input. Secondly, using Twitter for status updating is a time saver. I can send a status update over to Facebook without getting sucked into the cycle of looking at photos, reading other bios, and so forth. Lastly, the seamlessness helps me stay focused. I don't have time to do "stream of consciousness" commentary on Twitter and come up with interesting things to periodically post on Facebook.
Twitter is both a business and a social tool. Some people use it entirely for business; others use it exclusively for social purposes. I am not alone in mixing the two.
Others may disagree, but I view Facebook as a both a social and a business tool. I endeavor to put things up there that give a complete picture of who I am, what I like to do, and how I make my living. I can currently trace more clients to Facebook than I can to Twitter, and I believe it is partly because of the honest picture I try to provide.
People who believe they hear too much from someone on Facebook have several options:

They can choose not to read everything out there. I'm certain that no one is chained to a computer with a gun to the head, forced to read each and every status update. I tend to read and view things that interest me and filter out the rest.
They can avoid commenting or clicking on updates from an individual. Interacting with someone on Facebook seems to make the program send more information about that person into the news feed.
They can choose to hear from a friend on their news feed "rarely." Facebook allows each person to control how much they receive about each friend. Choosing "rarely" means less overall information about an individual goes into a news feed, something the "victim" never knows.
They can solicit more friends on Facebook. Less individual information will appear in the news feed as Facebook has more of a sample from which to pull.
They can "unfriend" an individual on Facebook at any time.

Within the next 12 to 18 months, I believe many folks on Facebook will adopt Twitter for status updating, causing greater understanding regarding more overall updates. Additionally, more Facebookers using Twitter will spread out the traffic from individuals on news feeds.
Because they're both such incredible tools, I plan to continue to use Twitter and Facebook together. Right or wrong, it is what works best for me.
Jared Smith posted a well reasoned counter to the above earlier today, and he makes some very good points about the natural evolution of the two services with which I heartily agree. Here's a link to his post: http://www.facebook.com/home.php#/note.php?note_id=43655989899. He tweets a lot more than I do in a typical day, up to several times an hour. (Congrats to him. He picked up his diploma from College of Charleston today.)

POSITUS Officially Named Women & Minority Owned Business

2009-01-05T15:01:00.000-08:00

POSITUS consulting llc was officially named a Women & Minority Owned Business by the South Carolina Governor's office. Applicants for WMBE status go through a rigorous vetting process, both in submitting a detailed application with supporting documentation and in undergoing an on site interview and tour of the business facility. Many of the standards are required by the Small Business Administration.
WMBE businesses can apply for federal, state, municipal and non-profit work. The certification helps women and minority owned businesses compete more effectively within those paradigms.

2009 - THE YEAR TO DO THAT ONE THING

2008-12-28T16:32:00.000-08:00

In 1994, I stopped making New Year's Resolutions. I was a newly married 20-something and believed resolutions were just things people wished they could do, not things they actually did. I purchased a journal and devoted it exclusively to setting goals for the coming year.
Every year since, I have used that journal to set goals, grouping them together into what resulted in a long list of things I'd like to accomplish in the coming year. I set goals like "Be nicer to my husband." (I'm no longer married to that husband.) I also included the usual "Lose 5 pounds." (I've gained 20 since I started the journal in 1994.) Of course, I had some accomplishments along the way, BUT I decided to do something different this year.
I examined my professional life and determined ONE thing that I want to accomplish in 2009. Instead of making the usual list of things that make me feel like I've done my duty by thinking about them, I decided to make one big thing happen, REALLY happen.
To find your one BIG thing for 2009, ask yourself the following questions:
1. Have I wanted to accomplish this for a long time? In my case, I have wanted to do my big thing for 4 years. I have outlines on scraps of paper. I have a notebook and reams of information to get started. Failure to focus and fear of wasting time always kept me from just starting somewhere.
2. Will it make a difference in my career? My big thing will likely change the focus of my career, help me reach a broader clientele and provide some professional validation, all good reasons to just try. For you, the one big thing may better organize your approach to your business, cause sales growth or give you an additional credential. It could even mean a career change.
3. Will it productively impact my overall life? Whether my big thing is ultimately successful commercially or not, I will have done something that, for me, will be a big positive. Choose that big thing that will provide personal happiness as well as professional fulfillment. The two are not the same.
4. Is it risky? My big thing risks my time and energy, which may or may not mean a loss of actual money. If your big thing requires an investment of capital, examine it carefully and come up with small steps you can take while still preserving your resources. Chances are, you can make several meaningful steps toward your BIG thing without significant capital investments.
5. Enlist help. By telling all of you about my one BIG thing, I am creating a huge accountability chain. Find people who will cheer you on, provide positive feedback and offer constructive criticism. My husband and a couple of girlfriends do this for me. Allowing people to hold you accountable might provide the impetus you've always needed to accomplish your BIG thing.
6. Be detailed about how you are going to achieve your BIG thing. I broke my approach down into small steps that are doable without becoming overwhelming for me. By attacking a small bit every day, you will be well on your way to completion before you know it.
7. Let some other things go. Look at the things that have historically made a difference for you both professionally and personally. Do not keep investing in things that do not provide a return. By jettisoning some previous expectations and forming new habits, you'll free up some time to focus on your BIG thing.
Approach 2009 with ferocity, ingenuity and persistence. I hope you have your best year yet.

POSITUS Article Published by Resource Nation

2008-12-16T18:22:00.000-08:00

Andra L. Watkins, CPA, principal of POSITUS consulting llc, contributed an article to ResourceNation.com. Highlighting collection strategies for any economy, Watkins gives tips to small business owners for ensuring the collection of monies owed them.
Click here to view the full article.

POSITweet: What Businesses Are Thankful for NOW

2008-11-24T16:22:00.000-08:00

This week's POSITweet posed the following question: What is your business thankful for? We got some interesting answers.
Amanda Bunting Comen of the Center for Women in Charleston, SC, a non-profit that helps women succeed in many aspects of work and life, commented that she is grateful for members and supporters of the Center. In a time when many non-profits are feeling an economic pinch, it is uplifting to focus on all of those people who care about the Center and continue to support it. We have been a business member of the Center since our early days and can vouch for its value and effectiveness. Check them out at www.c4women.org.
Reese McFaddin, owner of Workplace Benefits in Charleston, SC, tweeted that she was glad we still have health insurance options. With all of the many changes to that industry in recent years, it is comforting to know that someone can still find an affordable policy. Review their offerings at www.benefitwork.com.
Lyn Mettler, President of Step Ahead Web Strategies and Mettler Public Relations in Mt. Pleasant, SC, is grateful for her clients. With so many people cutting public relations dollars, having work to do is a blessing she doesn't take for granted. Because effective, well rounded public relations is important in any economy, visit her web sites at www.stepaheadwebstrategies.com and www.mettlerpr.com.
Terry Hoffman, owner of Digital Blade LLC in Charleston, SC, commented that he is grateful for referrals from friends. Most people find out about his computer support company via referrals. www.digitalblade.com.
Ginny Carson, owner of graphic design firm Decorum LLC in Charleston, SC, is thankful for opportunities to help her clients navigate the challenges of the current market. Because standing out from the crowd is more important than ever, she enjoys really getting creative to make her clients look awesome. www.decorumllc.com.
Michael T. Maher, director of the Charleston Civic Design Center (http://www.charlestoncity.info/dept/content.aspx?nid=345&cid=10744) in Charleston, SC, is glad that forward thinking urban design is needed, available and accessible in Charleston. (He's also grateful that he took the job and came here in the first place so that he could meet his wife - ME!)
Thanks to all of you who contributed to this Thanksgiving edition of POSITweets. We hope you have a remarkable Turkey Day!

POSITweet: Provide it for free? Depends.

2008-11-20T13:09:00.001-08:00

The POSITweet question for this week was - should you provide goods/services for free as a loss leader or should you charge for everything?
The answer is - it depends on what industry you're in.
For service providers, it is extremely difficult to create value by providing free services. Clients tend to value services that they pay for. Period. Providing a service for free tends to communicate to others that you do not value your own work. Why should they, when you do not?
Also for services, clients who want freebies tend to be the worst clients. Because they have nothing invested in actually implementing your services/advice, they tend to question it or outright not take it. Then, they turn around and blame you for providing bad service.
Freebie service seekers also tend not to understand what they're getting for nothing. The charge comes from getting someone to give them something for free, not from actually receiving something of value.
For products (and this can include web applications), it is easier to build value by providing freebies. It may be the only way to get someone to try your great new thing.
Providing products for free does require a thoughtful strategy. Who are you targeting? How many loyal customers do you hope to generate? What are the budgetary limits for free items? How can your product gain advertising plugs for free products provided? With the right assistance, these questions can be answered quickly and easily.
Many people have become hooked on a new product they tried for free. Ever heard of Twitter?
Congratulations to Cheryl Smithem for tweeting in the answer that most resembles how we think. (We won't say the "right" answer.)

Make Economic Turbulence Work for You

2008-11-19T10:45:00.000-08:00

Ever hear the adage about things seldom going according to plan? It is likely the story of my entire life in one cliche.

One thing I always wanted, though, was to own a small business. I didn't plan for it to be a small business advisory services firm until a few years ago. I'm grateful for the path, however it deviated from my "grand life plan."

Economic turbulence can quickly exhaust the best laid plans of any small business owner. More than ever, down turns are times for forceful, thoughtful, dynamic strategic planning. Use the tips below to help focus your growth planning for 2009.

Be positive. People want to be around positive thinkers and doers, especially when much of what they're bombarded with is negative. It is also invigorating to identify other small business people who are finding ways to grow and succeed regardless of the economy. Some of their good fortune and positive energy may rub off on your business, creating positive returns for you.

Reconnect with your network. During times of economic prosperity, it is easy to become overloaded and forget those sources of good leads in the past. Likewise, it is easy to focus on the most immediate thing. Over the next couple of months, make meaningful reconnections with five people. A person may not refer to you any more simply because you've fallen off their radar. Remind them that you're there.

Objectively evaluate all business opportunities that fit your small business' goals and targets. Now is not the time to make snap judgments or underestimate who is standing in front of you. Take the time, especially if things are slow, to focus on building new bridges and relationships that will continue to serve you, regardless of the economic environment to come. In the next sixty days, make a list of five people who could be effective mutual business partners and make forming a relationship with each of them a reality.

Focus on your profile. You may have more time to experiment with social networking tools for business. Be available to contribute to any reputable media outlet that can use you as a source. Submit for awards and recognition of your skills. If you identify one new means of raising your profile in the next sixty days, you will likely be an expert at it quickly. We have referral outlets who can help you.

Thank people for leads and new business. Sincere recognition of the help others contribute toward your own success is just another way to be positive. With the prevalent doom and gloom out there, personalized thank you's are welcome surprises in any in box or mail box. Wherever you are, adopt this little piece of Southern grace and charm immediately.

Thank you to all of you who help me succeed, who read my newsletter, who pass it along, who recommend me to others, and who value my services. POSITUS wishes you a remarkable Thanksgiving.

Announcing POSITweets

2008-11-17T12:31:00.000-08:00

In an effort to continue to embrace the 21st century, POSITUS is rolling out POSITweets, a weekly business advisory question-and-answer community on Twitter. (If you don't already follow us on Twitter, you can do so here http://twitter.com/andrawatkins.) If you haven't fully embraced Twitter yet, that's ok. Our POSITweets will automatically feed into Facebook and onto our POSITUS Points blog (www.posituspoints.blogspot.com to subscribe) for commentary.
Here's how it works:

We post a small business challenge or dilemma (for example, Is it better to do THIS or THAT?)
You post your answer (i.e. It is definitely better to do THAT.)
We recognize the weekly winner and award POSITUS swag.

That's it - Question, Answer, Swag. Look for POSITweets this week.

We Got a Face Lift (on our web site)

2008-11-10T13:45:00.000-08:00

Visit our improved web site at http://www.positusonline.com/. We have new Web 2.0 tools, where you can follow us on Twitter, Facebook, YouTube and more. We've also spiffed up our service offerings, added some new visuals, and have lots of new testimonials. You can easily subscribe to our monthly e-newsletter from any page. A link to our blog, http://www.posituspoints.blogspot.com/, is also available, where you can get additional free tips, learn more about what we do, find out why we're a different kind of consulting firm, and get regular updates on our awesome clients. You can subscribe to all of these cool tools right from our site. Let us know what you think!

Andra's Best Business Advice

2008-10-31T11:17:00.000-07:00

If you follow Andra on Twitter (@andrawatkins), you likely noticed that I (Lyn Mettler, @webprgirl on Twitter) was "filling in" for her this week on Twitter. What does that mean exactly? Well, I'm not pretending to be Andra, but I've been "tweeting" Andra-type messages on her behalf to keep her presence alive in Cyberspace. Andra, smart business consultant that she is, decided to take a vacation (with her husband's prodding) Internet free to relax and revive, so she can come back and continue to give us all fab business advice.

So, I also offered to do a guest blog post for her as well, and I thought I would share some of the valuable tips Andra has offered my business that has helped me grow significantly. I hope they help you too:

1) Choose your clients wisely -- In the past, I made a few mistakes in choosing which clients I wanted to work with (sorry, no names :)), but it was mostly because I did not have a good vetting process in place. Andra helped me determine what a "good" client meant to me and showed me how ensure prospective clients fit these requirements. It's so tempting, especially in a slow economy, to take any business you can get, and I was always afraid to turn down any business. But, taking on bad clients is bad for everyone - you're unhappy, they're unhappy, you may not get paid and more. Not worth it. By choosing to surround myself with good clients, I continue to find that more good clients seem to find their way to me all on their own.

2) Network outside your industry -- The Public Relations Society of America and the American Marketing Association were my two most frequented haunts as a PR professional. It's fine to network with others who work in your profession, but you're likely to get more referrals from those outside your profession. Try Rotary, Women@Work, Mt Pleasant Business Association, Business Networking International, etc. that have a mix of professionals or organizations that are related to your industry but not in your industry.

3) Don't do anything for free (or trade) -- Andra's words of wisdom: People don't value a service or product that they don't pay for. Very true when you think about it. Do you value something that's free?

4) Don't underestimate your value -- Spend some time determing an appropriate fee structure and stick to it. If a client doesn't want to pay you what you're worth, they're not a good client (see No. 1) :)

5) Set clear expectations -- Communicate your processes and expectations early with prospective clients. This includes how you update clients, your invoicing procedure, when and how you expect payment, etc. If everyone understands in the beginning, you will have fewer problems down the road.

This is just the tip of the iceburg of the great tips Andra has given me that have made a huge difference to my business. Andra, I hope I didn't give away too much of the good stuff, but I promise there is much more in that brain of hers.

Lyn Mettler
Mettler Public Relations
lmettler@mettlerpr.com

Watkins Wins Rising Star in Influential Woman in Business Awards

2008-10-23T18:51:00.000-07:00

Andra L. Watkins, owner of POSITUS consulting llc, won the Rising Star category at the 2008 Influential Women in Business Awards. Sponsored by the Charleston Regional Business Journal (http://www.charlestonbusiness.com/), the first annual awards recognized successful business women in the Charleston area in five categories. Darla Moore was the keynote speaker for the luncheon, which was a sell-out.

For information on all the winners, check out the October 27 issue of the Charleston Regional Business Journal.

A Different Approach to a Challenging Economy

2008-10-22T09:21:00.001-07:00

History repeats itself. It always does. Ever heard of Blacks Monday (October 28,1929 and 19,1987), Tuesday (October 29, 1929), or Thursday (October 24, 1929)? The Mini-Crash (October 27,1997)? In history, there are several other examples of the typical turmoil that is October in our markets. I’m not attempting to discount what is happening now. Several things have converged at the same time to cause a correction. Most market experts believe we will experience unrest for a while, and the days of “easy money” via easy credit are likely behind us. Markets are sometimes volatile. They just are. As small business people, we usually suffer the most during stressful economic times. Here are some tips to weather the storm that you’re not likely to see on TV or read in the newspaper. Have a POSITIVE attitude. I repeat, have a POSITIVE attitude. Business may be down for just about everyone, but business still exists to be captured. Those who proactively and positively go after new business, in spite of the economy, are likely to get more new business. A negative focus usually leads to negative behaviors that aren’t likely to bring in new business. Celebrate every new piece of business you win right now. Making a bigger deal of it than you normally would will lead to more POSITIVE thinking, a boost in morale around the workplace, and a likely snowball effect. Avoid reactive expense trimming. Cutting expenses right now without clearly evaluating which expenses are truly investments in business growth and success will guarantee revenue contraction. Take a more strategic approach. Determine which expenditures have truly paid off with increased business in the past. (If you can’t obtain from your data, you need POSITUS.) Cut expenses that are either not necessary or provide no return. Devote some of the savings to an increase in those expenditures that have led to solid business growth. Listen to your customers and provide them with creative alternatives. When the economy is great, most business people continue to do what they’ve always done. Now is the time to prove your business’ value by offering a more flexible product or service mix to existing customers, while showing how your business is different to potential new ones. Use this time to break bad business habits. When times are good, we can all afford to throw some money away, waste some time, or do things inefficiently. Focus on correcting one bad business habit, and keep it at bay when things turn back up. Consider accelerating a portion of your retirement contribution for 2008 now. Actually, Warren Buffett recommended this one, and I’m pilfering it. Your investment advisor can help you determine how much is reasonable to invest in the market right now to take advantage of the long-term growth that corrections historically bring to the market. Remember, history repeats itself. Taking a positive, pro-active approach to this downturn will make both you and your business better prepared for the next one.

POSITUS Featured by Center for Women

2008-10-13T18:30:00.001-07:00

POSITUS consulting llc is a featured member of the Center for Women in Charleston, SC for October 2008. We are profiled in their October e-newsletter. You can view it by following this link: http://www.c4women.org/news/Newsletters/current.htm.
The Center for Women offers programs, services and support for women in the Charleston Metro area. They assist women in all walks of life and circumstances and truly live up to their motto: Helping Women Succeed Every Day. We are proud to be a member of this worthwhile organization and encourage you to consider supporting it.

Watkins an Influential Women in Business 2008 Finalist

2008-10-03T06:23:00.000-07:00

Andra L. Watkins, principal of POSITUS consulting llc, has been selected as a finalist in the Rising Star category for Charleston's Influential Women in Business 2008. Co-sponsored by the Charleston Regional Business Journal (http://www.charlestonbusiness.com/) and the Center for Women (http://www.c4women.org/), the event recognizes Charleston area businesswomen in 5 categories: CEO, Volunteer, Philanthropist, Rising Star and Executive. We've attached the Business Journal announcement listing all the winners. If you know any of these women, please congratulate them!

CONQUER BUSINESS OBSTACLES WITH BUDGETING

2008-09-24T10:46:00.000-07:00

On Saturday, I accidentally went rock climbing. I truly had no intention of clambering over rock after rock for 2,000 nearly vertical feet when I started out. I thought I was going on a hike to a panoramic vista. Well, the view was there, and it was breathtaking in more ways than one. Climbing the 2,000 feet back down was even worse. I hyperventilated. I cried. I fell several times. I plopped down on top of a rock at one point and announced to my husband, histrionically I admit, that he could just leave me there. I was done.
Obviously, I pulled myself together and made it down the mountain, thanks in large part to the infinite patience of my husband. My life was never really at stake, and my fears were largely unwarranted.
Astonishingly, many small business owners approach their budgeting decisions just like I approached that mountain. With so much more at stake, they charge up the hill, allocating resources to things that aren’t going to take them to the top and burn out long before they get anywhere. Without a budget as a map, they wander all over the mountain, with most never finding their ultimate destination.
Now is the optimal time of year to start seriously working on a 2009 budget for several reasons. First, it forces everyone to take a hard look at where the business actually is for 2008 to date, enabling corrections and adjustments between now and year end to achieve greater success this year. Second, it provides ample time to evaluate alternatives where they exist and truly determine the most efficient way to approach spending decisions for the coming year. Lastly, working on a budget now enables it to be completed before the holidays, more than a month before productivity suffers for most small businesses in general.
To help you get started, here are some tips for preparing and implementing a meaningful budget.
Work from the information you currently have. You can print year-to-date financials that can be easily annualized. To annualize a number, take an amount and divide it by the number of months in your year-to-date statement (say 9 if run through September 30). Then, multiply that by 12. The result provides a general idea of what your annual amount may be for that particular category. The annualized numbers provide an ideal starting point for a 2009 budget. Factor in any large planned expenses in the months you already know they will occur. It is easy to adjust an annualized number for firm amounts or general ranges that you know will be spent because those decisions have already been made and approved.
Be realistic. It is best to err on the side of lower income figures and higher expense numbers at first and then adjust expenses downward to balance a budget. Without a well articulated strategic growth plan, making revenue higher to enable more spending will result budgetary overruns almost every time.
Involve your team in the process. The more people you have in your organization, the more opportunities you have for budgetary straying. By making your key team members accountable for some portion of the budget, you give them buy-in and help them understand the nuts and bolts that make your company successful. People are usually much more excited about things when they feel a sense of ownership.
Be willing to compromise. Balancing a budget usually means everyone walks away from the table without something they wanted. In many small businesses, the owner gets too much at the expense of the business’ growth and vitality. Empowering a team and compromise help check that dangerous precedent.
Use these tools to plan now to successfully reach your monetary goals for 2009. A simple budget can make the mountain a cake walk. You may encounter some scary spots, but you’ll be prepared for them.
Call POSITUS. We’re here to help take you where you want to be.
Watch the video below to see one of the numerous rocks I climbed (and, yes, I know, it was more daunting to me than necessary.)

POSITUS Client Tim Tilley Appointed Ambassador

2008-09-11T13:34:00.000-07:00

POSITUS client Tim Tilley, CEO of EnviroSep, has been appointed Economic Development Ambassador for the state of South Carolina. He is set to attend his appointment ceremony on September 15, 2008 in Columbia.

Governor Mark Sanford appointed Tilley because of his success with his company EnviroSep, which designs and manufactures highly engineered pumping systems in its facility in Georgetown, South Carolina. Employing over 40 skilled laborers and professionals in the Georgetown area, EnviroSep has designed systems for companies and developments all over the world, and their customers include Fortune 500 companies. Visit them on the web at http://www.envirosep.com/.

A little over 2 years ago, POSITUS began working with EnviroSep to formulate a strategic plan for smart growth. With less than a year to go in the planning cycle, EnviroSep has fulfilled our directives to seek larger, more lucrative projects and jettison unprofitable product lines. As a result, revenues through August 31, 2008 have already exceeded all of 2007. POSITUS has been tapped to formulate the next 3 year plan, a project we begin next week. We are excited to work closely with EnviroSep and congratulate them on their continued success.

Watkins Featured Speaker at CCPL

2008-09-09T09:08:00.000-07:00

We've been tapped to do one of our favorite things - TALK.

We've been invited to give a program at the Fall Business Series at the Charleston County Public Library. We work with many small business owners who struggle with basic accounting concepts and cash flow management. We're going to compress our tips into an hour and a half presentation that you can have free for attending.

This presentation is for you if you struggle with any of the following:

Getting paid what you're worth;

Making people pay you on time;

Interpreting financial statements (or, you're now saying, "What's a financial statement?");

Evaluating client/customer relationships;

Definitions of bad clients/customers and ways to "fire" them;

Determining what real margins are for your products/services;

And as much more as we can cram into the time allotted.

Where: Charleston County Public Library, Main Branch Meeting Room

When: Monday, October 20, 2008, 7pm

Visit ccpl.org for more information.

Work in the Face of Disaster

2008-09-04T13:36:00.000-07:00

We're all a-twitter (pun intended) here in Charleston now that hurricane season appears to be bearing down on us. Here are some reminders to get ready for a hit, (though Hanna is likely not it.)

Make a list of the things you must do in the event of an actual emergency and keep it handy this time of year. Some of the below may help.

Assemble a quick kit for your office, complete with plastic, blank DVD-R's, scissors, twine or string, tape, a Sharpie and any other items needed for quick security of your area. Keep it on hand throughout hurricane season.

Back up your computer either remotely or to portable disks/drives that you can take with you in the event you leave.

Store any important documents or other information in a location that is impervious to fire, flood and wind. As an alternative, you can make copies of these documents and/or scan them electronically. Then, you can assemble them in one place for easy transport.

Do not leave any sensitive items that could be damaged by water on the floor.

Take important information, like insurance policies and emergency contacts, with you.

Cover any items on your desk with plastic and secure it.

If you work with others, establish a contact tree with decision makers at the top. Provide detailed contact information, including mobile phone numbers, in case power and land line telephone service is interrupted. Once a decision about evacuation is made, information about work closures and return to work can be conveyed quickly with each person responsible for calling one or two co-workers with news.

Practice your hurricane routine with a hurricane drill.

It never hurts to be prepared. Take time now to prepare for an actual emergency before it is upon you. Without the stress, the process will be easy and will pave the way for less confusion when nature inevitably strikes out.

Be safe this hurricane season.

Watkins Appointed District 7770 Rotary Friendship Exchange Chair

2008-08-28T19:09:00.000-07:00

We've working for the world here at POSITUS. Andra L. Watkins has been appointed District 7770 Friendship Exchange Chair for Rotary International. District Governor Anne Walker confirmed her appointment today.

Friendship Exchange is a Rotary program that enables Rotarians to visit other countries and learn about culture and business practices. Rotarians host visitors and then participate in a reciprocal exchange. Because Rotary is an international organization, exchange possibilities exist for almost every country in the world.

In her capacity as District Friendship Exchange Chair, Watkins will firmly establish the program. She will define its parameters and will coordinate both incoming and outgoing exchanges. An exchange is already scheduled to visit South Africa in the fall. Rotarians from Conway will visit AIDS orphanges in South Africa with an eye toward improving conditions for the residents.

POSITUS Points August 2008 e-news

2008-08-26T19:28:00.000-07:00

HOW TO HANDLE THOSE PESKY BUSINESS IMITATORS

Hummingbirds are cute and amazing little creatures. They fly backwards and sideways and make chirping noises with their tail feathers. With heart rates of up to 1,280 beats per minute, they also need to eat. A lot.

Recently, I had the opportunity to watch hummingbirds in action at a feeder. What started as one lone little bird turned into a feeding frenzy of fourteen or so. It was incredible to watch them interact, fighting and sharing and vying for space and food.

In business, people are no different. An innovative business idea or proactive operating structure can be quickly copied, causing competition for customers and loss of market share that, over time, takes money away from your business. While imitation is the sincerest form of flattery, here are some tips to protect your business as your good ideas and practices make you successful.

Provide a better product/service than anyone else. Many imitators short-cut quality or service in an effort to streamline and make money. Once a quarter, evaluate your offerings to ensure that you have the best thing of its kind out there. You'll be forced to face those imitators head on and can stay a few steps ahead of them.

Play to your strengths. Imitators often do some part of the business better than you. Focus on what you do best. You can use an imitator as a mirror to shore up any obvious weaknesses in your product, service or business model, but your strengths got you where you are.

Protect your turf (or, watch your back.) In a softer economy, it is even more important to shore up relationships. By constantly working your network and expanding it strategically, you can protect the business you've built from invasive imitators.

Use the attention an imitator gets to your advantage. Rather than focusing on how many mentions a competitor may be getting around town, spin that into a publicity coup for your business within your own circle of influence. Overall mentions of your business niche can further validate what you do and can generate interest from the marketplace overall.

Be flexible and seize those openings. Sometimes, we focus so much of our business energies on things we desperately want to work, while an incredible opportunity is somewhere in our peripheral vision. Always be on the lookout for a new opening, be it a business relationship, a new customer, or a different approach to what your business does.

Don't worry. Worrying is akin to feeding your business imitators. It is a waste of time, and there are far too many other productive things on this list that deserve focus. Use these strategies to make your business "imitation-proof," regardless of how many people are copying you.

POSITUS Client EnviroSep Wins Award

2008-08-18T06:14:00.000-07:00

POSITUS client Tim Tilley, President of EnviroSep, was awarded Small Business Person of the Year by the Georgetown County Chamber of Commerce at their annual meeting. EnviroSep is a fully engineered fluids handling and heat transfer pump manufacturing facility in Georgetown, SC. They have been in business for more than 10 years and provide close to 40 highly technical jobs in Georgetown County. Their industrial pumps have been installed in manufacturing, commercial and multi-family residential facilities all over the world and are entirely designed and produced from their facility in Georgetown.

POSITUS worked with EnviroSep to develop a three-year strategic growth plan. We also helped them to identify ideal customers and markets for expansion, as well as to target current business that may be no longer desirable. With our assistance, the Company also hired its first Chief Financial Officer. We are certainly proud of Tim and his team at EnviroSep!

www.envirosep.com

Watkins Elected to Biltmore's Who's Who

2008-08-11T13:29:00.000-07:00

Andra L. Watkins CPA, principal of POSITUS consulting llc, a business advisory services firm in Charleston, SC, was elected to Biltmore Who's Who in Business. This distinction is awarded to individuals who have proven track records and extensive business success. An in depth interview and panel approval is part of the acceptance process. We are excited to be able to announce that Watkins received this accolade.