Great Advice from Great Business Leaders.

Today I want to share some advice I have read and collected over the past couple of years from amazing business leaders. While I know advice isn’t always applicable to situations, it sure can help put things into perspective.

Sir Richard Branson: “"The truth is, rules are made to be broken. There have been many occasions, especially early on in my business career, when I've had to ask my ever-understanding wife to sign a sheet of paper with me to put a second mortgage on our home in order to get a business deal done! However, the theory is sound: trust your instincts, but protect the downside. And, of course, remember to listen to your mum and dad's advice!"

Gary Vaynerchuk: "You just don't know what the reality of the situation is going to be until you're in it. Once you're in it, and things maybe aren't exactly what you expected them to be, you have no choice to make a call and adjust. You'll never be able to force a different reality on the situation."

Arianna Huffington: “"We don’t have to wait until we move or change jobs to change our lives. Nor do we have to wait for large-scale, upstream change. We can initiate change right now. There are endless starting points."

Deepak Chopra: "I was told that my core being was a field of infinite possibilities, infinite creativity, comfortable with uncertainty, synchronicity, and imbued with the power of intention and choice."

Coco the CEO: “Have patience. Nothing worth doing can be done overnight. Owning a business is a collaborative process. It takes one person to have an amazing idea, but many people to help see it to fruition.”

Until Monday,

Coco the CEO!

4 Facebook Tricks for Companies that WORK!

Many people and businesses use Facebook wrong. They put up a post here and there and then wonder why they don’t see traction or ROI. Well, usually the posts are not vetted with marketing tests and that is why there is no real ROI or brand engagement.

Here are my top four tricks for Facebook use in direct relation to business ROI and brand engagement;

1. Test the time of day you post. Test engagement means posting the same message at different hours of the day for a week. This test is standard in the marketing area and help you navigate the impact of your Facebook feed during different times throughout the day (and night). The only way to ensure optimal engagement is through old-fashioned trial and error because every company has a different target demographic.

2. Ask for input. This helps your demographic not only take ownership of your brand in a way, but it can help you from spending money where it doesn’t need to be spent! Whether you customers to vote on a new logo or product color, use their input to reasonably guide the direction of your next business decision.

3. Pictures are shared more than content. This is a fact. Your pictures are worth more than a million words so make sure you include a photo or graphic with your content to help your post stand out.

4. Be your own biggest fan. Facebook is where you want to promote yourself without limits. Be bold, talk yourself up, and post relevant information and graphics. Your customers will engage with you more often when you are confident about your services and products.

Until tomorrow,

Coco the CEO

Oh to the No! Social Media Mistakes!

Every remove someone from your social media accounts because they are stalking every post you write? You know the type- they “like” or “retweet” everything you say. Even worse, their own posts are nothing more than selfies, rude memes and, of course, status updates from the gym! You want followers, but you want the RIGHT followers.

Here are my tips to navigating your way through your personal social media accounts like a pro;

#1. Don’t overshare. Oversharing photos of yourself, your pets and/or your kids is called annoying. Think of yourself walking down the street and someone stopping you every two seconds with a photo from their wallet to share with you. Annoying! Don’t be this person, especially if you run a company!

#2. Don’t buy “likes”, YouTube views or Twitter followers. We all can tell when “ana zhoisf sdjkdfhss” is a fake profile and you look silly with 10,000 fake followers reading your uninteresting posts. Value who you follow and appreciate those who REALLY follow you!

#3. Have actual conversations. OMG! Yes, don’t send important information via a text or a social media post. That’s classless- especially if it is a welfare check on someone’s emotional or physical health. Be personal, you will intrigue more people to follow you on social media when you show you truly care about others.

Until tomorrow,

Coco the CEO

How to Stay On Your Game!

People ask me all the time about staying on your game in business. Who has time to really go focus on networking when you have a business to run, right?! Wrong! Here are my three tips to staying on your game.

1. Try to meet one new person every single day. Yes, you never know who you are going to meet so make sure to introduce yourself to one new person at your local coffee store or in your office complex daily.

2. Spend 15 minutes each and every day doing something you hate. Why? It helps you grow your problem solving skills when faced with a challenge.

3. Share photos of your goals on social networks. Yes, your goals. Working for retirement? Share photos of places you want to retire. Working on becoming famous? Share your writing, music, etc. on these mediums. Why? Sure, the posts tell people about you but, more importantly, they work as self-affirmation and keep you on track towards these goals.

Until tomorrow,

Coco the CEO

The Biggest Mistake Related to Your Personal Brand.

This is going to read as obvious but it has to be said – your personal brand is a direct reflection of you. Additionally, everything you put on the internet is going to stay on the internet via deep linking thanks to Google. So, if you don’t have anything nice to say, don’t say it!

Your brand will help or hurt you professionally, even if you don’t intend on having a brand. For example, Justine Sacco was an executive who Tweeted from her personal account, not her company account, that she was “Going to Africa. Hope I don’t get AIDS! Just kidding, I’m white.” Can that be any more offensive? She was fired from her company because, and rightfully so, her brand was offensive!

While people like Howard Stern and Wendy Williams make money being offensive, this tactic doesn’t work for most people. Look at everything you write and every photo you post with personal consideration as if you are a corporate brand. Ask yourself what it means to your brand or if you are creating a confusing message with your opinions and photos.

You need to identify who it is you truly are and express it with valuable content and photos that support this statement online. If you are a PR professional, be one online. Don’t post videos of you drunk and singing Karaoke. It isn’t professional. If you’re a pro basketball player, don’t talk trash about the NBA! It is all about common sense and social media these days when developing a strategy for your personal brand.

Until tomorrow,

Coco the CEO

My pivot book.

My pivot book. In a couple of weeks, if not sooner, I will be introducing a new book on the art of pivot within the business community. Many people discuss pivot but no one seems to talk about what happens after you or your company makes a pivot. That is what this new book is going to be about.

In the upcoming book I cover how both PayPal and Starbucks were able to utilize a strategic pivot plan before either company started. Sometimes we, as business owners, plan to pivot and other times we have to adapt – pivot.

My book will also include an exercise plan for business owners who are going into a pivot – regardless of the cause – so you have a strategy to develop a workable flow plan, identify what worked in the past and what didn't work, and set up realistic financial milestones as you move forward.

Unlike my current book, this product may not be offered as a free gift. However, I am considering incorporating in the cost of all of my business consultation efforts. I believe anyone who goes into business or has an existing business should understand both the concept of a pivot and then how to recover after one.

My advice for you this weekend is to Google case studies of companies who are able to pivot and succeed – as well as companies who attempted to pivot and failed. Having a plan for after the pivot is essential to avoid failure. My new book will address this.

Until Monday,

Coco the CEO

How to write a proper press release.

If you are going to attempt to write your own, or your company's own, press release there are a few rules you need to be aware of. While I always suggest having a professional within the public relations industry assist you, I understand not everyone has the budget to accommodate this need. First, understand every press release you send out will not be picked up by a media sources. It is the nature of the reporting and broadcast game. Go into your press publication efforts with a realistic strategy.

The first element of writing a good press release is to ensure it is newsworthy. DD news that is relevant to you is not always relevant to the media. For example, if you are a real estate agent who just sold a multi-million dollar home that might be significant to you but it may mean nothing to the media or industry – specific media. However, if you just sold a multi-million dollar home that was once old by Robert Redford and a media in 53, which is very different than a press release, may be warranted. Of course, you would have to get the permission of Robert Redford and the new homeowner.

The next element of writing a good press releases to understand that a press release should not be of a promotional nature. Many novice public relations professionals make this mistake. A good press release reads like stereo instructions, not an advertisement. You also want to look of Associated Press style, otherwise known as AP style. Writing with good for is a plus in the eye of any reporter. If you use the sales copy for a non-– AP format, regardless of how newsworthy your press release may be – it will not be picked up.

Finally, understand the elements of a press release, which are; the headline, the restatement by line, the day, the introduction paragraph which restates how the headline is relevant to the byline and includes any immediately where further information can be found, a supportive paragraph – which should include further details in the event that a reporter does not click on the immediately, a quote – quote can be from the media agency putting out the press release, a client or relevant party directly related to the press release for yourself, a recap paragraph that is not redundant – this is hard to do but necessary, and a boilerplate. A boilerplate is simply who, what, when, where, why and needed details about the source putting out the press release and for the subject matter of the press release.

So, remember when you are writing your press release to check Google news. If what you are writing about isn't trending or relevant within your own industry for the national spotlight, you need to rethink your angle for your product. Also, remember that formatting is key – journalists are very busy people and sticklers for details.

Until tomorrow,

Coco the CEO

The psychology of marketing and graphic design

Today I would like to discuss the importance of branding and graphic design when it comes to the psychology of color. The American Marketing Association has published study after study dedicated to this subject. While many people are able to create stunning graphic design using home-based software programs, like Adobe Photoshop, not all people are well – versed ineffective graphic design. There is a significant and underlining strategy when it comes to graphic design and appealing to existing and potential customers. All of these items come into play when utilizing an experienced, and creative graphic designer.

The message of your graphic should do more than just tell a story for exposed compelling content. Your design needs to incorporate colors that provoke an action from the desired demographic. For example; the color blue will not sell products. Using blue and product sales has been proven to be ineffective. However, using shades of blue and graphic design when trying to build a brand that is identifiable with people seeking advice, or self-help services, is highly-effective. That is why you see many religious figures, dating websites, and self-help groups incorporating elements of blue and their branding and graphic design efforts. Using red and yellow as the primary colors for sales buttons or menu boxes is more effective than using blue. In fact, red is considered an action color and automatically considered as a tool when seeking for individuals to take notice.

While this is just the tip of the graphic design – psychology of color iceberg; it is important for you to understand the subject matter when moving forward with your own branding opportunities in order to execute not only a stunning graphic design, but what is effective and can drive business. If you need help with your branding efforts, I am available to consult and even have my own team draft of compelling designs backed by proven studies on the color of psychology.

Until tomorrow,

Coco the CEO

The Worst PR Mistakes You Can Make

As a public relations professional, I am often asked how one can obtain national and/or local media. There is an art to gaining actual media that takes years to develop and an investment of 6 to 12 months for a PR campaign. However, there are certain mistakes that are often made by inexperienced public relations firms and professionals.

One of the biggest mistakes is sending out media alerts or press releases for items or events that are not deemed media worthy. Not understanding the public relations process can actually harm your brand and/or company. Sending out non-media worthy press releases and or media advisories will also harm your brand or company because it is considered to be the equivalent of " crying wolf" in the media industry. Members of the press will become easily annoyed if they continue to receive press release after press release that has nothing to say other than self-promotion. It is important to always have something to say to the media when you approach them. Members of the press will not just cover your brand for the sake of covering your brand, a common mistake and assumption made by inexperienced media professionals.

If you are going to try to navigate your own press campaign, understand the commitment level and patients it will take to offset several rejection letters in the attempt to gain one solid piece of media. I always advise people to really evaluate what it is they want the media to cover about themselves. I tell my clients to take that concept a step further and identify why the media would care about the press release or media advisory they are pitching.

Another great tool is to assess who is already being covered. For example, if you sell a political column, it is your job to understand who your competitors are and why the media might go to them first before approaching you regarding the press release or media advisory. What is it that makes your competitors sellable?

My tip for this Tuesday is to assess who you are and what you're selling as a brand when approaching the media. Do you want to be famous for the sake of being famous? If so, what outlandish PR tactics and stunts are you willing to accomplish to make this happen? If you are selling a product or service that you want covered by the media ask yourself how is it different? What information can you offer to a media sources audience that will help land you the interview over and established contributor? These are my suggestions for you to ponder today.

Coco the CEO

Out Think Your Competition.

Many companies sell the same products or service. Why are some companies more successful than others? There is no secret sauce- understand this right off the bat. The difference between success and even greater success is customer service and to really understand what you are doing, offering and then do it cheaper and better.

McDonalds has been around for decades. Their burgers remain cheap and their best seller. Do other places have better burgers? Sure! Do other places sell burgers between six and eight dollars and still make a profit? Yes. So, why is it McDonald’s has staying power , amazing brand recognition and survives with their bestselling item selling for less than a dollar? Easy, the company knows what they are doing brand wise and they sell burgers smarter than the rest.

When you decide to go up against your competition, try finding cheaper source or product providers. If you can find a cheaper vendor, you can lower rates and still be competitive. Next, know what you are doing. Don’t just start a business and walk away. Run your business. Understand what it is your customers truly need, not just what they want.

Most importantly, don’t just compete – think!

Until Monday,

Coco the CEO

Are You Passionate?

I read an article on Oprah and Sir Richard Branson. The article compared these two media powerhouses and discussed how they turned their passions into profits. Not everyone gets to turn their passion into profit, but it is a beautiful thing when this does happen.

What’s the trick?

Oprah and Sir Richard Branson don’t take no for an answer. They know who they are, what they want, and they don’t ‘BS’ people. They are direct and they know what they are talking about. This commands a certain respect from the get go.

If you want to turn your passion into profit, vocalize it. Don’t self-doubt or waver in opinion. Know that there is no alternative and your passion to profit plan is a make or break scenario. There is no plan b. Plus, confidence is a major part of why they are successful and you can be too.

Tonight I want you to think about your passion. Are you willing to walk away from everything you have now to follow it? Even if you don’t make any money for five years? Maybe even twenty years? If you said no, you’re not as passionate as you think.

Your passions can be turned into profits, you just have to want it bad enough and command the respect of others who can help get you to where you need to be in life.

Coco the CEO

Ignoring Advice

Not all advice is good advice. Some people intentionally give you poor advice because they are jealous or want you to fail, while others simply think they are helping and are unaware their advice is bad.

How do you know when you’re getting bad advice? After all, you’re seeking out help for a reason! Well, I’ve come up with a few pointers to vetting the advice you seek.

If you know a know-it-all, don’t take advice from him or her. Really, you should take a step back and look at the person’s life and business. Are things 100% perfect and they have unlimited money and power? If not, they don’t know it all and the advice is likely to come from a place of ignorance.

Nervous Nellies. Yes, those who are way too cautious might seem to offer the right advice, but the truth hurts. Overly cautious people aren’t risk takers. You have to be a risk taker to run a business… period! Again, what has this type of person done in his or her life that makes you want to seek their advice? The reasoning should go beyond being extra careful about things.

Finally, a vested interest in your success or, more importantly, failure. If someone really wants you to go with their advice, question why they are championing it. What is in it for them? If the answer is nothing, keep seeking. You may be being set up with bad advice. There is always an angle. There is nothing wrong with someone getting something out of a deal. It is when they are not up front about this that you need to start being concerned.

Until tomorrow,

Coco the CEO

So, You Want to be A Brand!

Here’s a question for you… how do you develop your own brand on a budget? I’ve spent time on this blog discussing the ins and outs of corporate branding. However, what do you do when it is YOU who you want to brand?

I always suggest starting with knowing your demographic. Trying to be popular and in-favor with all people isn’t possible. Everyone is going to have an opinion, just ask people about Miley Cyrus. Not everyone likes her- in fact, many people hate her, but she has a brand and an empire build on her way of life and how she portrays herself as a brand. Her demographic loves her, he critics- they love her too. In fact, not liking her gives them something to write and broadcast keeping them in business. When building your brand, don’t kowtow to the harsh words of others. Instead, know your demographic and then embrace those who criticize outside of it.

Create a brand statement and stick to it. Yes, it seems silly but you do need one. You can get of course easy with tons of media and opinions coming your way. Do you really want to pivot your brand based on the opinions of others? So, keep that statement close at hand, refer to it often and keep your eye on the prize!

I have a very special branding announcement coming up soon so keep checking back.

Coco the CEO

Be A Better You in 2014

I wish business owners knew it all. Wouldn’t the world run smoother if all of us business owners knew everything and had all the answers? Outside of pretending to live in a Disney movie, we don’t know everything and we often don’t have all or some of the answers.

I spent today thinking about three ways I can be better in 2014. I think these tips can apply to all business owners, which is why I am sharing them.

#1. De-Clutter. Have a two minute rule for small tasks. If something is going to take longer than two minutes to do, schedule it. If not, put it in your “action items” pile and address these items at the end of the day.

#2. Send out “Thinking of You” cards to current and former clients. Yes, order specialty cards specific to this effort and send them out to refresh current relationships and rekindle stale ones. This is a nice way to show clients you care and stay in the game.

#3. Talk to other business owners how you want to be talked to. I knew this ignorant woman business owner. She used fancy phrases and talked herself up to be bigger than she was. However, having a business conversation with her, even by email, was always difficult because she had no clue as to what she was doing or how to execute certain tasks. I often wanted to give her a piece of my mind, but I didn’t. I wouldn’t want someone treating me this way, so I kept quite. Eventually, she sent enough “look at me” emails with demands and action items that she ran herself right out of business. The universe will take care of those who come at your. In the meantime, don’t go after anyone without a valid reason.

Until Monday,

Coco the CEO

Saying ‘No’ to Pushy Customers.

As business owners we are very blessed to have customers. There are many other companies that offer the same products or services that you do. No one has a 100% grip on their industry. So, what happens when you have to let a client go or say the word ‘no’? Will you go out of business? Probably not.

First, however, let’s examine when and why to say no to a client. If a client is asking you to do something outside of a contract, to do something illegal, or if he or she requires a lot of hand-holding that will slow down your growth - say ‘No’. New companies may not have the luxury of saying no to clients who require much hand holding because they don’t have the business yet to self-sustain.

If you have offered bad products or services to a client, saying ‘No’ as far as a return can, however, harm your company.

You can’t allow your clients to walk all over you in business. I knew one lady who owned a coffee shop. She became friendly with her customers and ran tabs for VIP guests. Guess what happened… she was out of business in a year.

I’m not telling you to be mean to clients or not to accommodate them. What I am saying is to focus on business decisions when addressing clients. Don’t consider how much a contract or sale may bring in, consider what it will cost you to service that contract.

Until tomorrow,

Coco the CEO

Failure - A Way to Win!

Failure is going to happen in business. From failing to meet a customer’s expectations to failing at your overall operations, on some scale- you will fail. It is where you go after the failure, and what you do, that really counts.

I’ve failed countless times. Some of my greatest business lessons came out of this failure and not out of my college classes. While failure can be expensive, learning from it always possesses value.

Here’s how you can turn your failures into a ‘win’;

1. Accept responsibility for your mistakes instead of making excuses.

2. Apologize. Many thinks in life are easy to accept once an apology is offered. Refusing to say “I’m sorry” is what adds salt into your customers’ wounds. In fact, examine the apology Starbucks offers to clients when mistakes are made by clicking here: http://starbuckspassion.tumblr.com/post/925449418/the-importance-of-good-customer-service

3. Don’t repeat the mistakes once you acknowledge them.

Being humble is a part of business. You will not please all of the people all of the time. We are not, as humans, perfect. However, taking ownership of our being human and making mistakes can help you learn from failure and prevent further missteps.

Until next time,

Coco the CEO

Saving Money in 2014

Here is a question no one asks…. “How do I save money?” Believe it or not, many business owners almost feel ashamed to talk about saving money. Why? We all like to save money regardless if we are well off or not. So, what is the shame in discussing finances? We should be open and honest about the different ways business owners can, and should, save money.

Let’s start with advertising. Dare I say it? Billboards don’t work! They’re expensive and they are great for branding yourself or your products but they don’t actually bring in sales. So, if you want to create an ad campaign on the cheap- go viral or go with in-store coupons. Slipping a 4X6 flier into a customer’s bag for their next purchase works well and it costs pennies. Starting a social media ad campaign can be achieved for $50 dollars.

Next, consider buying recycled printer cartridges. This can save you up to 35% annually on printing expenses. People think recycled means poor quality. No, this isn’t the case. You’re saving money and the environment at the same time, which means it is almost shameful to buy new in this case. And, with the average business paying upwards of $1,200 a year on printing ink, 35% ($420) per year is quite the savings.

Finally, lease employees. It may sound odd, but it will save you tons of cash. You might not always have a need for a full-time or even part-time employee. Using the same person over and over again through a temp agency will save you cash and retraining efforts. Plus, the temp can pick up other work with his or her agency when you don’t have a need for him or her. It is a win-win situation.

Don’t be afraid to save money as a business owner. In fact, consider it your duty to so in the name of company growth.

Until tomorrow,

Coco the CEO

When it’s Time to be Brave!

Several people want to run a business. Many people have great ideas. Even more people want to be their own boss. So, when do you walk away from your day job to go after your dream?

Well, there is a big difference between wanting to quit your day job to follow your business-ownership dreams versus actually being able to do it. In fact, the difference is financial ruin.

I tell my clients to prepare for the worst and expect even worse. This, in my opinion, is the best way to be truly prepared for all the unexpected situations business ownership will deliver. We don’t live in a perfect world and your business isn’t going to run this way either.

It is vital for you to have a year’s salary put away. Make sure this salary covers paying your bills, mortgage, paying for food, family needs, entertainment, + 6 months of an emergency fund. Additionally, you need to have 1 year of business operating expenses put aside. Don’t forget to include your startup costs and another 6 months of a business emergency fund.

Typically, this means you need to have around $200,000 cash on hand to really operate a business (and survive) for the first year to year in a half of being in business for yourself. Don’t forget the golden rule- most businesses don’ts tart making a profit until two to three years in, which leaves a gap of 6 months to a year where there is no cash flow… what will you do then?

You see, it isn’t wise to quit your day job until you are prepared to lose a lot of your saved cash (or other people’s money). Ask yourself right now if you’re willing to take this risk. If you’re answer is “no” then it isn’t time for you to be brave and quit your day job.

Until tomorrow,

Coco the CEO