In a recent blog post for FastCompany.com, my business partner and I wrote about “forgetting what you know.” Our basic premise was that we as business owners and entrepreneurs can sometimes devalue the things we know, simply because we know them. We forget to understand that what makes our expertise valuable, is that not everyone knows what we know! It’s what makes us each unique. We each have certain talents and knowledge that others seek out.

It’s our personal achievements and talents that form the basis of our personal brand. Personal branding is simply a way of building and maintaining our reputation within our field of expertise. We all strive to be the “go-to” expert in our field, but it takes a solid reputation, an exceptional product or service and a marketing strategy that bolsters your reputation – or personal brand – to do this effectively.

Below are three basic steps to bolstering your personal brand. Regardless of whether you’ve been in business for years, or if you are just starting out – it’s important to always be aware of your brand.

Identify Your Personal Brand – This may sound simplistic, but it’s the most important part of growing and marketing your business. What is the first thing that people think of when they hear your name or business name? Great customer service? Great insights on one topic or another? Cutting edge? Traditional? Pinpoint this trait and focus on it – grow your business around it.

Think about it – if you don’t know in what areas you excel, how will anyone else know?

Take the time to identify the traits of your personality that you want people to notice. What aspect of your business will set you apart from your competition? Take your strengths and market yourself around what you do best.

Stay on Message – There’s nothing much worse for your business than causing confusion to your client base. Once you have identified the image that you want to portray, do everything you can to showcase that image.

For example, if you are a musician that excels in country music and have built a fan base of country music lovers, would you release a hard rock album? 99 percent of the time that would be a disaster. Your fans (or your customers) have chosen you for a reason. Why test their loyalty? Give them what they have come to expect from you – what initially attracted them to you in the first place.

Control Your Media – This is somewhat an extension of the last point. In order to build a successful and respected brand, you must be able to take control of your brand message. The best way to do this is to do everything you can to make sure that you send a clear message in all forms of media – preferably your own media sources. This especially becomes more and more important as your business grows and there are more people directly involved with you and your brand.

I recently wrote a blog about LeBron James and how he had complete control over almost every aspect of his free agency decision this past summer. If you recall, LeBron purchased a full hour of television time on ESPN to announce his decision to play for the Miami Heat. He had complete say over what questions would be asked, which sponsors would participate, etc. LeBron took control of one of the biggest sports news events of 2010, and was able to guide the next step of his career the way that preserved his personal brand.

All of us may not have the star power of LeBron James, but we can take his example and apply it to our business. From social media to traditional marketing, there are numerous media outlets at our disposal. Use them to shape and display your personal brand!

The item they found was a copy of Action Comics #1. This comic book is famous because it is the first time that Superman was ever introduced! Can you imagine finding this? The even more incredible part of this story is that the comic book is worth over $250,000! The family was able to persuade the bank to give them some time. They have set the comic book up for auction and it will certainly save their house. Amazing! (You can read the story here: http://www.newser.com/story/97219/superman-comic-saves-family-home.html)

So what does this have to do with business growth and personal branding? This family had completely run out of options… they were stuck. Many of us have been in this position with our business. Now, you may not have been on the verge of closing up shop, but were you stuck on a plateau? Was your business just not growing? Had you run out of ideas?

When was the last time that you stopped to think about all of those ideas that you once had, but had just stuck in the “attic?” Maybe when you started your business, you had a certain direction in mind, and just got sidetracked. Perhaps other opportunities came about and were easier or more lucrative to pursue.

Well, if you’re ever in that place where you feel stuck, why not pull those old ideas out of the “attic” and see if they can fit into the business that you have built. It might just be the perfect idea to stimulate a new marketing campaign or business strategy. Maybe it will help you reach a certain niche within your client base.

Even better, it might be that certain something that compliments your personal branding strategy and sets you apart from your competition.

About 2 years ago, I became a proud grandfather! Other than the obvious joys that this brings into my life, I have also been reintroduced to one of America’s national treasures: Sesame Street. Yes, Sesame Street.

This American children’s television series premiered on November 10, 1969 and is still a daily fixture in homes all across the country. Sesame Street is one of the longest running children’s programs in television history. I can remember my girls watching this show when they were young, and now my granddaughter finds the show completely amusing!

Why am I writing about Sesame Street today? Because we can all learn a valuable lesson about personal branding from this quintessential American brand.

How has Sesame Street lasted so long? Two main reasons come to mind. First, their content – educating young children through a quickly paced fun format – is top notch and something that most parents welcome into their home. The producers of this show have created a formula that works – it educates effectively while successfully keeping the attention of the young ones. If you’ve ever tried to hold the attention of 3-year-old for more than 15 minutes, then you know why this is such a big deal!

The second reason that this brand has been able to enjoy incredible longevity is through its creative and unique characters. Much like Disney, Sesame Street has developed their brand through the use of fun and interesting personalities. In the seventies and eighties, it was hard to find anything involving Sesame Street that didn’t feature the loveable character Big Bird. From movies to lunchboxes, Big Bird was the superstar of children’s television.

Then something (or someone) interesting happened. Elmo.

In the last 15 years or so, Elmo, the little red 3½-year-old Muppet who often refers to himself in the third person, has become the new face of Sesame Street. Big Bird has not gone away – but he is no longer the focus. You would now be hard pressed to find any promotional materials or product line for Sesame Street that doesn’t have Elmo’s smiling face in the forefront. Elmo has starred in two full-length motion pictures and has appeared on The West Wing, Emeril Live and The View, among many others. He’s an international superstar!

There’s nothing wrong with Big Bird, of course. He is still one of the main characters on the show. But Elmo has clearly become the new focus of the show. The core purpose and theme of the show (and their brand) has not changed at all – it has merely shifted focus.

So what can we learn about personal branding from this change in focus?

Sesame Street is a business just like any of ours. Even when we think that we have developed the perfect personal brand, there may always be an opportunity to change the focus of that brand. I’m not advocating changing the things that have made your business brand a success, just finding a way to re-focus your brand to a new audience that will not alienate those who have come to trust and respect your brand the way it is.

Is your personal brand built on being wholesome? Traditional or cutting edge? Is your brand and reputation built on customer service? Reliability?

These things do not need to change (and shouldn’t for that matter.) These traits are ones that will be relevant to generation after generation. However, the next time you are thinking about how your personal brand can last for generations, think about what each generation finds the most appealing.

Try to think of ways you can re-focus your personal brand that appeals to the new generation – without sacrificing the traits that made your brand the success that it is!

Akira Mori, president and chief executive officer of Mori Trust Company, Limited, said, “Past success stories are generally not applicable to new situations. We must continually reinvent ourselves, responding to changing times with innovative new business models.”

Nothing could ring truer in this New Economy where seemingly every attempt to draw on past success strategies is met with less than stellar performances. The reason for that result is that economic change, while appearing to be the same, is always based on a different set of circumstances than ever before; the flaw is to assume “a recession is a recession just like the last one” and that the results are the same each time. They are not.

Our current economic crisis is the modern-day economic equivalent of the “perfect storm” in which multiple disparate factors collide to create something different, something unexpected, something that doesn’t react very well to the old traditional forms of economic stimulus.

The reason for the slow recovery of the economy is because we are not just seeing an economic crisis, we are seeing a fundamental shift in the nature of how business works; and the recovery, when it happens, will not come from the same old stimulus methods but instead will sprout from a more fundamental change of the very nature of business growth. For the economy to return to a healthy status and for business to resume the mode of successful commerce, the consumer must be listened to and catered to like never before. Today’s consumers are no longer bound by the offerings of their neighborhood store. What the consumer wants may be thousands of miles away but must be deliverable tomorrow on the buyer’s doorstep without the frustration or cost of time and travel.

Jack Welch, chairman and CEO of General Electric between 1981-2001, faced facts when he said, “The Internet is the Viagra of big business.” Just like that, the guy who increased GE’s market value from $14 billion to more than $410 billion—and was named “Manager of the Century” by Fortune in 1999—recognized that where he had taken GE in the past was no longer the route for the future.

The reality is, the Internet has changed the fundamental nature of competition and doing business. And although it has teased us for many years with its false promises and failed attempts at success, including its own industry meltdown and economic crash, that fall was just the foundation being laid for what has emerged in what now seems like the blink of an eye. New ways of building and delivering online products and services have emerged and, whether you know it or not, instantly your competition has increased exponentially. Your established competitors are now joined by new companies, fresh innovations and ideas, and ever-improving processes and products.

This is the real crisis that faces most businesses today, and unfortunately most haven’t even realized it yet. Instead of trying to rapidly adapt, they are desperately clinging to old ways of running a business that won’t work in the New Economy. And it isn’t event the issue of bricks and mortar that was the center of cocktail discussions prior to the dot-com crash; it is a case of “best practices” for the industry or sector you are in.

For example, if you are in the haircut business, bricks and mortar will still prevail because you need to physically go to a location to get the service performed. But if there is any opportunity for you to do your business or service in the virtual world, the preference for most consumers will be towards that—unless they can somehow otherwise be enticed by an element of experience or entertainment.

When it comes to reaching consumers today, it’s clear that you can’t just go on doing “same old, same old” and hope for the best.

The wired world is a universe in constant flux. Bill Gates once called the new Internet era “an environment of constant change” and, more incisively, “punctuated chaos.” As all financial players are digitally connected, any downturn or upturn in a major market creates overnight reverberations in other markets. The digital world is demanding that companies react to change, but the good news is that it includes the tools they can use to stay ahead of the curve. The key is connecting your business strategy with a streamlined response.

So how is business to survive? By understanding the fact that as business climates change, the methods of marketing for those businesses are also “upside down” and in need of change if success is what you are after. Where, normally, you would think global economies would mean larger markets, in reality, for small companies, entrepreneurs, and professionals, the opposite is true because they simply do not have the economic firepower to try and reach everyone or satisfy everybody. In fact, the media has become so fractured it is almost impossible to reach the masses.

Therefore, to be successful in the New Economy, you must think in terms of specialties or niches within broad markets where you can be a difference maker. In fact, the more narrow your focus, the more power you can yield within that niche; and based on this fact, your financial leverage can be multiplied.

A Change of Focus

Instead of the reliance on mass media, your focus needs to be on “targeted media.” Businesses haven’t stopped using traditional media to get the word out, and indeed, it’s often an effective launch point for an ad campaign if you can control the cost and monitor your return on investment (ROI). Clearly, however, the gulf between traditional advertising and online advertising has widened over the past few years as audiences fragment and the Web grows to provide a new media approach.

Mass media of the last century offered a relatively simple structure, with large audiences congregated at a few outlets for a few kinds of programs. But the Internet provides seemingly infinite choices, and it appears difficult to capture the attention of an individual user when that person has split him or herself among a number of destinations for very brief periods of time. One of the biggest challenges for marketers is understanding this self-fragmentation and how to overcome it.

Reaching the individual who is your target customer first requires your understanding of who your target consumer is, and then your application of market segmentation, the process of pulling apart the entire market as a whole and separating it into manageable, disparate units based on demographics. The market segmentation process includes:

1. Determining the characteristics of your target market, then separating these segments in the market based on these characteristics.

2. Analyzing whether the market segments are large enough to support your product or service. If not, you must return to step one (or review its product to see if it’s viable).

3. Once you’ve chosen a target market that has the size to produce your needed sales levels, you can develop your marketing strategy to target that specific market. Your focus is smaller, but you are reaching the specific buyers you want.

After creating this group of prospects, you must develop your market’s buying metrics to learn how many prospects it takes to produce a sale, what your conversion ratio is, and how that affects your bottom line.

Shotgun vs. Specialists

So how does this apply to today’s online realities? In the past, advertisers had only one choice—they took the shotgun approach, scattered themselves to every mass media outlet they could afford, and hoped a percentage of those people might pay attention. It was about trying to be all things to all people. It was spending money on local newspaper ads, cable television spots, etc., and hoping potential customers would catch a glimpse of them as they turned the page.

It’s the equivalent of the long-ago era of the general practitioner whom everyone would go to no matter what his or her medical condition. Just as patients now go to specialists who can help them treat their specific injuries and illnesses, consumers have become selective about where they go to get their goods and services. Online it looks something like this: health conscious individuals who might have subscribed to a general magazine on health are now signing up for blogs, newsletters, podcasts, user groups, e-mail lists, membership sites, and more to address their exercise regimen, a preventative medicine program that suits their lifestyle, their specific heart condition, their type of diabetes, etc. More and more people are taking advantage of outlets with increasingly specialized information.

With so much out there floating around and vying for consumer attention, today’s savvy marketers are likewise getting more specific in order to forge a competitive advantage. They’re identifying who their potential customers are, cultivating these relationships, and in many cases even charging them for the privileges of membership. Let’s say you have a dance studio in town that offers salsa lessons. In the past, you’d put a medium-size print ad in the local paper, maybe shoot a local TV commercial, and hope for the best. Now, you can create a sizzling, colorful Web site with step-by-step instructions and high-energy videos of those lessons that “students” can pay an online subscription fee to see. Seeing is believing. Even if folks never step into your studio for the real deal, you get them to subscribe to your service to learn how to dance from home.

It can work the same in the sports world. If you give golf lessons in real life, you have to hope people see those local classified ads, right? But if you give golf lessons online and charge a fee to help your students’ progress, you’ve taken the world in your hands without paying any attention to geographical boundaries. You can now teach at any level you want, whether that market exists in your locale or not! Someone might buy an issue of Car and Driver for five bucks, but fans who want to go behind the scenes and into the pits of NASCAR can probably find a better outlet, which they’re willing to pay more for, to really get them into the action and on the inside of the sport they are ravenous fans of. The list of industries and examples goes on and on!

A lot of these opportunities lend themselves to a virtual delivery with cutting-edge technologies, but some of this ongoing flow of information extends to tangible media as well. There has been a resurgence, for example, of paper newsletters and, although still virtual, teleseminars as well, neither of which are considered new technology. Most of these models of selling information, or ideas, offer the basics for free up front, but if they want what you’ve got to offer, and you promise to go deeper, they’ll be happy to pay for the privilege of regular updates and insider opportunities.

The key to setting the world (or at least your bank account and profit margins) on fire in this world of new media is niche-ing down your market to create value in the people you’ve niched into. By building your audience, you build your value, and that in turn increases your roster of consumers who will be willing to pay top dollar for the incredible things you offer. Remember—the power is all in the presentation to the right audience.

So, when thinking about growing your business during the current economic shift, think big; but then make sure you think small with regards to what niche you can ultimately serve to prosper the most. After you figure that out, if you take the time to determine the best format or combination of formats to deliver your products and services to your audience, you will find a formula that is wildly profitable!

I (Nick) was sitting in a sushi bar in Los Angeles, thousands of miles away from my hometown of Orlando, FL. Having found a table, I asked the waiter to assemble my usual selections which included one order of Maguro, one order of Yellowtail, and one Steamed Shrimp, Cucumber and Cream cheese roll with a drizzle of eel sauce (the Nick Roll, as my friends have come to call it), and then I began to do what I do most of the time when I’m alone – I took out my iPhone to occupy myself.

I checked emails, read and posted a few tweets, and checked my newsfeed on Facebook to see what my friends were up to. I also engaged in a newer activity, “checking in” via geotargeted apps and games like Loopt and Foursquare (If you don’t know what these are, you should! Just Google them!). This particular meal was during a period of time several months ago, before Foursquare had been brought to the iPhone, so I checked-in via Loopt. Much to my surprise, I noticed that a friend that I went to law school with and who also lives in Orlando, had also checked in on Loopt and was just a few miles away from me in Los Angeles. I immediately sent him a text to say ‘hi!’ and to tell him I was just a few miles away. This prompted us to try and coordinate a chance to meet; the meeting would be for the sake of novelty, if nothing else.

This occurrence prompted us to take stock of what many of us do to bide our time (check-in, tweet, post on Facebook), and how it was not only becoming second nature, but what that means for the way we are going to conduct business in the future. Based on these hyper-connected, entertaining, and informative ways of passing information from person to person, we are really leaving behind a trail of everything we’ve ever done, everywhere we’ve ever gone, every opinion we’ve ever had, and, thanks to some less than scrupulous folks who tend to overshare and take pictures with their phones, everything we’ve ever eaten. You might be wondering where this trend is headed and what it all means.

Well, in the context of “The New Economy”, this trail is essentially a “Personal Brand Map”. It’s a record of our thoughts, feelings, and experiences, all mapped out in chronological order, from which anyone in our networks (or increasingly, even someone who we haven’t allowed in our networks yet) can review and form an opinion about us.

In the New Economy, some might say that our Personal Brands are increasingly important. We’d go further, saying they’re all we’ve got left.

Think about it. The internet and technology have brought about the following changes:

• Removed the barriers of information flow, allowing us to find anything we want, anytime we want it.

• Made transparency a way of life, allowing the general public to piece together a story even if you aren’t telling it yourself – you can’t hide most things anymore even if you wanted to!

• Leveled the playing field by giving everyone on Earth an instant platform to publish anything you can think of, including thoughts, muses, obsessions, hobbies, photos, videos, business ideas, invitations to social events, collaborative efforts, and more.

We’ve seen this technology bring about the rise of the Personal Brand, while we have simultaneously witnessed the downfall of the institutions that we grew up believing in. This is a total game changer.

We’ve seen the banking industry fail us through credit crises and mortgage meltdowns. We’ve seen over-inflated real estate prices which are due, in large part, to the previous bottleneck on real-time information flow. In the past, we’d have to wait for all the data from real estate sales to drip down from title companies and city and county records in order to get a gauge on what was happening. Even worse, we might have to go to a physical location to view the records. Now you can find that all online, from anywhere in the world, with the click of a mouse. Simply revolutionary!

We’ve witnessed many a corporate meltdown due to lowered barriers to entry. For instance, it is now a very acceptable practice for any business person to schedule a meeting at a Panera Bread or Starbucks location. No formal office is needed, just a place to meet. We’ve also seen the increase in shared spaces replacing the more traditional executive suites and even some less traditional solutions like existing businesses renting out offices that aren’t being used to new businesses. We have seen increased international competition from countries like China and India, who are in a venerable race to bring their high-talent, low-cost human capital to America, with no plane tickets needed, using nothing but Skype and email. And, finally, we’ve witnessed those willing to compete and incur lower overhead in order to gain market share that previously would have seemed untouchable. This accumulation of corporate meltdowns has left many unemployed and without the pensions, retirements, or the security we always thought would be there.

This is a major shake up. In spite of the fact that many are calling it a “lost decade” (2000-2009), we instead look back and see a time of painful discovery and major shifts in the way information is shared, received, and processed. No longer do we look to journalists in last Friday’s newspaper to determine what movies we want to watch or what restaurants we should try out; rather, we look to social networks to see what our friends think and where they are right now.

There has been a shift of power. Power is now at our fingertips – in the hands of the many, not in the hands of the few.

So, how do all of these powerful cultural and economic shifts affect you? You, as an individual, have become your own brand, whether you like it or not. You can control your brand to your own advantage or you can let your personal brand be run by others who comment on what you are doing. In fact, whether you choose to document your life and your business or not, chances are someone around you is going to document it for you. You don’t have to post photos of yourself on Facebook or videos of yourself on YouTube for such photos and videos to end up there. You don’t have to post your thoughts on a particular concept or issue online, for them to end up on Twitter, as those around you are doing it for you whether you like it or not. So, the real choice you need to make (before someone does it for you), is to control your personal brand.

The good news is, if you learn how to effectively control your brand, you can also control your life in ways that were never before possible.

Think about it this way: in the past, if you were a superstar employee, you still got paid what your employer thought you were worth. Now, you can take your brand as a superstar employee to the internet, sharing your knowledge and building a following of people who are interested in your ideas and the projects you are working on. You can become an “internal evangelist” and a thought leader for your industry – all while working for someone else. This buzz about you in turn raises your profile and credibility, which then gives rise to the notion that no longer will you be an employee with limited options. You will now be a free agent operating no differently than the sports stars who are able to offer their skill(s) to the highest bidder.

This new ‘free agent’ marketplace is already occurring in limited scope through the use of social media sites like LinkedIn that are dedicated to connecting people for business, as well as through sites like Facebook that allow you to share text, video, audio, and even create custom apps to let people know what you do. Not to mention, we are just now in the early stages of internet platforms and tools to make those kinds of connections work to your advantage. The future will give rise to more of what one of our clients, Chuck Boyce, calls the “Independent Executive”. This label applies to someone who takes their knowledge from previous employment and sets out to create their own destiny, lifestyle, and income on their own terms. This philosophy takes personal branding to the next level, because it is not just important for the professional or the entrepreneur, but it is now very important for employees who are happy to work in someone else’s environment but who want to be recognized, both financially and emotionally, for their very real contributions.

In the past, an unhappy employee had limited choices:

• Do nothing but complain (with increasing disgruntlement)
• Quit and go look for a new job (which has no guarantee of being any different)
• Beg the boss for a change in circumstances (power, money, responsibility) without having any real say in the process

Now, in the new “Branded Economy”, you are all allowed to play the role you want in building your brand and building your value. If you don’t take control, you will risk becoming irrelevant and relegated to the position of a cog in someone else’s wheel. You will be at the mercy of a third party whose self-interest will always outweigh your own – just like the players in the sitcom The Office and the comic strip “Dilbert”.

Now that the game has changed, what will you do to control your own destiny? As we have gotten known for telling our clients, we’ll now tell you the same: You have the choice, to Brand or Die!

This has been an especially exciting couple of weeks for new Denver Quarterback Tim Tebow. He just finalized his football contract with the Denver Broncos that could yield upwards of $33 Million and he just signed a 3-year endorsement deal with sportswear company, Jockey.

The Jockey deal replaces Jim Palmer who held the endorsement spot for 20 years and was one of the good guys in sports too. He took everything off except his Jockey’s for a photo spread that was, at the time, a little risqué and the question abounds whether Tebow will repeat the male equivalent of centerfold himself. It will be interesting to see.

The Jockey deal appears smart because it adds a little interest to Tebow’s clean cut image without bruising Christian values and the very large constituency of Tebow followers. He will need to maintain a tight balancing act with the Jockey brand – but that is what he has been doing at the University of Florida for the past four years.

Developing your personal brand requires great congruency. Your actions and your words must be carefully matched or you can lose your audience if they become confused about your message. There will be a lot of eyes on Tim Tebow as he starts his NFL career. Many people will be watching for a stumble and some will even be hoping for one. Understand, it is the same thing you face in your own business with your competition always ready to take your place if you make a mistake. Tim will have to be vigilant and so will we in our own business. Know the message you want to make with your personal brand and always be congruent with it to your fan base. This is one of the true keys for personal branding success.

By Nick Nanton, Esq. and JW Dicks, Esq.

If you missed Tony Robbins’s new mainstream premiere of Breakthrough, his new reality TV show, you missed the evolution of the blending of infomercial, reality TV, and soap opera.

While these adjectives describing Tony Robbins’s new show could be viewed as negative, we don’t intend them that way. It is the representation of the re-launch of Tony’s career in personal development and the launch of a new and powerful blended medium. Had this show been an infomercial, there would have been a strong call to action for viewers to buy the hot product Tony was selling. This may have resulted in successful front end sales followed by following up the sale with offers for additional products and services under the traditional infomercial format.

In the new media, Tony’s production company has mixed reality with message and created fans instead of buyers. While this may have a slight delayed effect in product sales, that delay will undoubtedly be outweighed by a strong new fan base for the entire spectrum of Tony Robbins Experiences including product sales as well as high end events and personal coaching at price points that might have seemed unattainable prior to the new show’s launch. Make no mistake, this show will be a commercial success–perhaps even on the front end from ad sales, but it will be also undoubtedly be a success for Tony Robbins Productions, the producer of the show, and the mix of Robbins’s products and services that will be revived as well as newly created, all at the same time.

First, from a reality TV test, the show was good. Great production, good story and the people were unquestioningly real. From Tony’s prospective, he too is to be congratulated because he recognized that in the new economy (arising post Great Recession), the focus will be on credibility as much as celebrity. People are tired of what they see in the news and the “BP BS lie detector” will become a new method of judging what people and companies say about their products and services. If you aren’t transparent from today on, you won’t pass the public BS lie detector test and you will get raked over the coals by your prospects and customers for anything your try to “sneak” by them–publicly we might add. On the other hand, if you are able to pull off what Tony Robbins did last night, which is to set up the next sale at the expense of a short term gain, the world will be your oyster.

I entered the huge chain bookstore, hoping my guilty expression wouldn’t give me away. Then I furtively disappeared between two large shelves of books in the back, making sure no store employees were looking at me.

I eyed the area around me one more time – no one in sight.

And then I pulled the brand new copy of my latest book out from under my jacket…headed to the nearest open cashier…smiled to myself as she scanned the book’s ISBN bar…and I paid $21.95 for a book. A book I already owned.

My name is Nick Nanton…and I am a reverse shoplifter.

Why am I committing a crime against myself? I’ll explain a little later…but first, I want to tell you that this may be one of the most controversial chapters in this book… And not because I’m moving around in bookstores in a clandestine manner.

It’s because I’m about to advocate something that I believe delivers one of the biggest ROIs of anything out there today. But it’s also something that many people regard as being as dead as the dodo.

What am I talking about?

Well, I’m talking about what you’re reading right this minute.

A book.

A book can be an amazing platform for your business – it’s got prestige, it’s got impact and, most importantly, you can market yourself and your business through it in a ‘whole bunch’ of different ways. Because, to be honest, it doesn’t do you any good to write a book and then just put it on your shelf next to that dusty dictionary. It only makes a huge difference when you use your book proactively to expand your circle of influence, build your reputation and impress current and prospective clients.

Look at the super-successful people who put out books on a regular basis – people like Donald Trump. He doesn’t need to write books to prove himself any more – he can make as much money doing a couple of speeches here and there. No, he – and mega-motivational stars like Tony Robbins and Jack Canfield – create books for the above reasons. It’s not about getting paid for the book – it’s about growing their brands.

Just look at what happens when “the Donald” writes a book. Suddenly you see him everywhere – Larry King, Fox News, even The View. It gives him a whole new set of talking points and a reason to put himself out there. He knows that the ROI on a book is unlimited – as long as you realize it’s not just a book, it’s a gigantic marketing tool. That’s why it’s something I advise all my clients to do.

I’m going to detail in this chapter just how you can make your book go to work for you in a variety of ways. First of all, let’s talk about the book itself.

MAKING YOUR BOOK HAPPEN

The first thing you should do is be realistic. You’re probably not creating a New York Times Bestseller here – that’s not even what you’re really after. You make money from having a book – not from book sales. This is meant as a marketing tool to sell yourself and your business. Put your book together with that in mind.

As with any marketing tool, you want your book to be an attention-getter. That starts with the title – finding a way to put the concept of the book in a short, ‘punchy’ and powerful statement that taps into something people want to know.

Simple is very important. Has there ever been a better title than “The Secret?” Well, there haven’t been many better-selling titles, anyway. At the same time, it’s a gutsy title – because without the multi-million ad campaign for the book, its generic title could have left it lost in the shuffle. Since you’re mostly going to be sharing this book with clients and prospects, and not trying to sell it to the general public to a great extent, you can get away with that kind of approach.

Of course, you’re thinking, the title is the easy part – what about the content? Well, that might be easier than you think as well. Do you give seminars or create instructional materials? Have you given speeches about your business? That’s content – content you had to think about and structure accordingly. By getting these materials transcribed, you could already have the bare bones of your book content.

What happens next depends on your available time and your level of confidence. Let’s start with time – most entrepreneurs and business people just don’t have enough hours in the day to run their businesses and their lives, let alone try to write a book. It’s time-consuming and requires a lot of thought. Many who try it simply give up and don’t finish.

Then there’s the confidence factor – you may be intimidated by the thought of even trying to write a book. Most people don’t even like to write a short blog – and then there are those wouldn’t be ‘caught dead’ even trying to put together the 140 characters or less that go into a “tweet.”

That’s why most business people will use a ghostwriter to get their book down on paper. You can find excellent ghostwriters on Elance.com (where they’ll bid for the chance to work on your book), or you can ask business associates if they’ve worked with someone they like and trust.

It’s easy to work with a ghostwriter – you either give them the kind of transcripts we talked about earlier or you can talk through the main points of the book with them. The important thing is to end up with something that you can feel good about. If you’re going to use a book as a marketing platform, you want to make sure it’s professional, informational, and represents you and your business in the best possible light.

THE THREE STAGES OF MARKETING YOUR BOOK

Once you have your book finished and published, it’s time to really go to work. You can maximize your marketing punch not only when your book is published, but also before and after. Again, authoring a book is impressive – so make the most of it!

1) MAKE PRE-LAUNCH A PRIORITY

You definitely want people to know your book is coming out in advance. Begin by creating a website about the book before it comes out – offer a free portion of the book (a “sneak peek”) through an ‘opt-in’ box that will allow you to capture leads. You can even feature a “countdown” to the publication date and time to generate more excitement.

When the website is up, put out a press release announcing you’ve got a publishing deal, making sure you have links back to your website. Syndicate the press release and post it on all the social media sites (Facebook, Twitter, etc.). Also consider doing a podcast by having a friend interview you about the book and put it up for download on iTunes.

2) GENERATE PUBLICATION PUBLICITY

Once your book is published, you can now use it to your advantage to get booked just like Donald Trump does. You probably won’t make it to “Larry King Live,” but you have a ‘good shot’ at some local air time at the very least.

Next, send out copies of your book to local radio and TV stations, as well as print publications, and offer to be interviewed. Also put in a listing in Radio-TV Interview Report (find out more at RITR.com) to make yourself available for national interviews. You can also mail copies to your top clients, send them out to get yourself booked for speaking engagements at business and civic events, and host a book signing event at a local book store.

You can also continue to produce podcasts for distribution through iTunes with a theme of something like …“Beyond the Book,” offering additional/updated information and conversation about topics you cover in the book.

And remember my “reverse shoplifting” at the beginning of this chapter? Here’s why you should consider taking a copy of your book into a bookstore – and buying it there!
As long as your book has a legitimate ISBN number and is available from a major distributor, two things we always do for our clients’ books, the bookstore clerk will simply scan the book’s barcode, a price will come up and you can purchase it, even though the store never stocked it in the first place. Best of all, the bookstore’s computer system will register that somebody bought your book and that they’re now out of stock – meaning they just might order more copies of your book to sell on their own!

3) CREATE A LONG AFTERLIFE

Now that you’re an author, it should become an important part of your professional profile. Make sure it’s added to your official bio and possibly even put the name of the book in your email signature for a limited time.

You can also break down a chapter and make it into a free ‘special report’, available on your website through an ‘opt-in’ box. Other chapters can be turned into online articles that you can syndicate, or you can rework the material into speeches or seminar material for your personal or recorded appearances.

Your office should also reflect your author status. Put a framed copy of the cover of your book on the wall in your reception area or office – it’s easy to do through canvaspop.com. Also, leave copies of your book on the coffee table in your office with “Take Me” stickers on the front. You should also donate copies to the local libraries in your area. Make sure your contact information is contained in these copies – either put a business card in the book, or have your info stamped on the back page.

At our Celebrity Branding Agency®, we take this process through another, very powerful step. We’ve created a foolproof way to make our authors’ books best-sellers in certain Amazon categories. We then honor them by placing them in our National Academy of Best-Selling Authors™ – and send out another round of press releases noting their honor and best-selling status, which opens up a whole world of marketing opportunities for the same book.

They say print is dead, but, thanks to Kindle, iPad and other electronic devices, it’s not really. It’s just migrated to LCD screens. The fact is that nothing conveys authority and credibility more than having a published book with your name on it. Publishing a book and marketing it correctly puts you and your business up more than ‘a few notches’ against the competition – and isn’t that what it’s all about?

And, best of all….reverse shoplifting is NOT against the law!

The Wizarding World of Harry Potter opened at Universal Studios Orlando June 18 and the studio is reporting rising attendance and guest spending. This is of particular significance since Universal’s theme park attendance had been hurt by the global recession and travel slowdown. The opening of the new attraction had been a long awaited event for Universal and Harry Potter fans, so the news of positive performance brings a welcome sigh of relief for the hefty $250 million bet Universal placed when they went after the Harry Potter attraction and scooped it out from under Disney who resides only a few miles away.

While all looks great with Harry Potter and the investment Universal made, the naysayers have been wondering out loud if Harry Potter will indeed have legs for years to come, after the last movie is out. After all, J.K. Rowling has said she will write no more Potter books and she certainly has enough money (Forbes estimates her net worth at more than $1 billion) to make that statement believable.

First, it will be a very long time before all of the Harry Potter fans even have an opportunity to go to the attraction. By then, many of the readers will have had more of their children come of reading age and turned into Harry Potter fans. And at some point, the books will pass down to the next generation. Additionally, just because J.K. Rowling doesn’t want to write any more books, doesn’t mean she won’t license different forms of Harry Potter adventures, from cartoons to video games. All of this brand continuity is up to Universal, who has both the burden and the opportunity, to make the Harry Potter brand stay fresh and make its product line continue to flow.

The lesson in all of this for us is to remember that we too must be vigilant with our own brands and work to keep them fresh with new ideas and expanding products that not only grow in number, but also lead into new business verticals and opportunities. Like Universal, most of us have invested lots of time and money to build our brand and in doing so have secured a bit of intellectual property that we have that is unique. While our brand may not have the value of Harry Potter, it doesn’t have to for it to be an opportunity to create more jobs, economic growth contributions, and a nice nest egg for ourselves and families. That’s a bit of “Wizarding” magic in and of itself.

Companies must take control of their own brand message and use their own media to do so when possible. LeBron James’ control of ESPN’s own show, to announce his jump from the Cleveland Cavaliers to the Miami Heat NBA Franchise, was as strong of an in-your-face illustration of the point as you can make.

James told ESPN who would interview him, when they could pop the question on his choice of teams, which sponsors would fill the hour long show, and perhaps more importantly, where the money paid for the sponsorships would go. Like it or not, and many journalists don’t, this is just the beginning of high profile sources taking control of a news event. The bigger the story, the more control the newsmaker will have–and that means content control, revenue control and residual spinoffs. Whether you like the way it went down or not, take a look at the opportunity it presents and think about how you could leverage this kind of coup using your personal brand like LeBron did on a local, regional, national, or industry level.

In a world where athletes and celebrities now have their own direct relationship with fans through social media channels, they can not only deliver the news, they can bring the eyeballs to watch the announcement. When the fans have fun and the media and the celebrity make money, who is to complain except the purist–and that cat is out of the bag.

Even though you may not have superstar status in your own market, don’t miss the point that this same formula can also be used in other ways. Local announcements of sports events or celebrity appearances can be used to create your own media appearances where you act as host, agent, deal maker, or sponsor depending on the role that best helps to elevate your personal brand. Use of news to expand your brand is not a new idea, but it’s taking on a new form that offers lots of opportunities.

Companies must take control of their own brand message and use their own media to do so when possible. LeBron James’ control of ESPN’s own show, to announce his jump from the Cleveland Cavaliers to the Miami Heat NBA Franchise, was as strong of an in-your-face illustration of the point as you can make.

James told ESPN who would interview him, when they could pop the question on his choice of teams, which sponsors would fill the hour long show, and perhaps more importantly, where the money paid for the sponsorships would go. Like it or not, and many journalists don’t, this is just the beginning of high profile sources taking control of a news event. The bigger the story, the more control the newsmaker will have–and that means content control, revenue control and residual spinoffs. Whether you like the way it went down or not, take a look at the opportunity it presents and think about how you could leverage this kind of coup using your personal brand like LeBron did on a local, regional, national, or industry level.

In a world where athletes and celebrities now have their own direct relationship with fans through social media channels, they can not only deliver the news, they can bring the eyeballs to watch the announcement. When the fans have fun and the media and the celebrity make money, who is to complain except the purist–and that cat is out of the bag.

Even though you may not have superstar status in your own market, don’t miss the point that this same formula can also be used in other ways. Local announcements of sports events or celebrity appearances can be used to create your own media appearances where you act as host, agent, deal maker, or sponsor depending on the role that best helps to elevate your personal brand. Use of news to expand your brand is not a new idea, but it’s taking on a new form that offers lots of opportunities.

This acknowledgement by Disney of the importance of “thinking”, about how a personality brand is perceived on many levels by your audience, is a lesson we all need to keep in mind. Clearly Disney is concerned about brand reception and its effect on a brand with $5 billion in annual merchandise sales. Your company’s brand might not have billions at stake but what you do have is just as important to you.

Brand reception by your audience, no matter how big or small, must always be a concern and mixed messages can be as large a problem as bad messages. This is one reason that we encourage clients who have businesses driven on personality brands to be consistent not only with the verbal messages they are conveying to their audience but the more subtle messages as well. Brand reception is particularly important in the age of Facebook and other social media sites where some brand personalities might relax too much. Yes, it is important to let your personality come out and let your client/customer base know who you are so you can create a stronger bond. This is one of the strengths of building your business based on personality branding. However, you must at the same time be cautious to realize that you are being watched by your clients and the messages you are sending must remain true to the brand you are building or someday you may have to, “rethink” the direction your brand has taken.

Customer endorsements
Continuity programs
Loyalty programs
Sweepstakes
Rebates
Coupons
In-Billing advertisements
Business reply cards
Location-Based targeting.

Keep your eye out for my emails and blogs which will carry the heading 30 Year Proven Marketing Strategies and the number I am commenting on.

Loyalty programs are well known and clearly successful. Best Western is one of the oldest at 20 years, but most big hotels and airlines now have some sort of a program.

One of the interesting things about these programs is how they expand and contract over the years and how they are also adaptable to any kind of business – national or local. On the expansion level, Delta just announced that you can trade in sky miles for many other things instead of just flying. Miles can be redeemed for gift certificates to national restaurants and retail merchants. These expanded offerings were resisted for a long time but I think they will find it makes the use of the miles accumulated easier and members will think of the airline more often and more favorably when they can use the miles for items they might otherwise have to pay cash for.

Loyalty programs are also adaptable. We use a variation program in our Kennedy’s Barber Clubs. If you are a member, you are given a business card with your own name on it and are invited to hand them out to your friends with a free “haircut and Shave” coupon on the back. If the coupon is redeemed and the customer becomes a new member then the member who passed out the card gets a free month of service. It is a great deal for everyone. Members have an opportunity to do a favor for a friend and at the same time get real value awards for the gesture. The Club benefits in the form of referrals which we all know are one of the strongest methods of marketing.

Cross promotions between merchants also work. Examples are easy to see on a national level with American Express cross promoting with airlines but down at the local level the idea can be adapted too. A men’s retailer can cross promote with a woman’s retailer to provide gift opportunities to their clients and the gift doesn’t compete or hurt their own sales since it is to a different gender.

How can you use a loyalty program in your business? What steps need to take place to implement quickly?

As we all know, the best time to connect with a prospect or customer is when we are able to enter into the conversation already going on in their head. This time of year there is lots going on and thus lots of opportunities.

The following holidays are opportunities for you and the key dates are obvious, but some not so obvious ones can be used just as effectively to touch your clients and prospects.

-Christmas
-Thanksgiving
-American Education Week (second week of November)
-Family week (4th week of November)
-Nov. 27 Black Friday (biggest shopping day of the year and everyone is looking for a buy)
-Nov. 11 Veterans Day
-Nov. 17 World Peace Day
-New Year’s Resolution suggestions
-Predictions for the New Year
-Send your Christmas Cards out
-New Years Eve Be Safe Reminder
-Plan Your January Marketing campaigns so you don’t miss the excitement of a New Year.

Pick one or all of these ideas – but don’t miss this opportunity to connect with your clients and prospects because if you don’t…someone else will.

Happy Holidays!

The bad news is that the car they loan me is a very nice… Honda Accord.

Ok, I know, I sound ungrateful, but I’m not. I am trying to teach lessons on branding and this is one they haven’t learned. I don’t want you making the same mistake. “Never cheapen your brand.“

Please note: There is nothing wrong with Accords. I actually owned one many years ago. However, if I am selling Mercedes and am giving an Accord to my good clients look what I am saying to them:

1. An Accord is a good car and you might want to consider it if you want to save some money (like during a recession).
2. And Accord is dependable which is why we loan it out.
3. You are a good customer but not good enough for us to loan one of our Mercedes to.

In addition to these non verbal messages (none of which you would really want to convey), they are also missing out on a “prime” opportunity; put me into one of their new cars and have a customer service (aka salesman) go over the car before I drive it off so I “properly understand how to use all of the wonderful new features.” And, when I return, meet me and see what I thought about the experience. Two chances to test my sales pulse. Two chances they get without having to spend money to market to customers just to “try” and get them to come test drive their cars. They spend lots of money normally doing this and they could do it spending no money and giving happy experiences to customers getting service done at the same time.

Hopefully, you aren’t making this same type of mistake with your customers but it is always profitable to stop and look at things you are doing that could be viewed differently than intended. Sometimes it is the case of using the wrong person in a relationship role; sometimes it is an error in the sales choreography your company uses that conveys an unintended and unwanted message. Take a moment, “walk your business” and see if you need to corrected and unintended mistake.

Happy Branding!

Nike is using social media and viral marketing to promote its annual Human Race series by inviting consumers to join the race through an email campaign with user generated video. While there is no direct connection with a sale of products, Nike is getting users to help build its brand and when consumers are directed to Nike’s website for registration they capture their information. I encourage you to go to Nike’s specially designed website, www.What-Cha-Doin.com, to view their campaign and go through the process yourself (see they even have me referring people to the site). By visiting the site, what you will notice is that they have set-up a program for the consumer to personalize the email they send to their friends and even include the friends running abilities and hobbies. It will be interesting to see how Nike uses this information at a later date to target advertising or other emails they send out from the names they collect.

One segment of the tour is a visit to the “underground” part of the Magic Kingdom – the tunnels below. On tour, the very knowledgeable guides explain in detail some of the “insider” points of what Disney does and the thought process that goes with it.

On this particular trip the guide told us about Disney’s Pin trading. For those of you who don’t know, Disney borrowed the idea of trading Pins from the Olympics when they observed people from different countries using it as an ice breaker to make conversation and connect with each other. Disney then created its own pins for guests in the park to trade with Disney employees or “cast members,” as they prefer the term. Obviously, in order to trade a pin you had to buy one and thus a new product line began to the tune of what is now a $100 million a year industry with its own events, including cruises.

The Pin trading venture is a whole study itself in the process of creating new verticals for your own business – but today’s lesson is perhaps more important. Our guide pointed out excitedly that it really wasn’t the pins that were important; it was in her words, “all about the opportunity to build a relationship with our guest.”
I doubt the guide thought of this on her own, and if she did Disney should certainly give her a raise and a bigger job, for the point is dead on. A sale, no matter what the product, is an opportunity to create or continue a relationship with your customer. The sale will not last. The relationship can. The true value of any sale is not today’s value but the lifetime value of that customer today and tomorrow.

In the current issue of Forbes Magazine (September 2009) another method of valuation is discussed which makes personal branding or celebrity branding even more valuable. This valuation is called “incremental value” and it is viewed as the value brought to a business not just in terms of a current sales increase, but overall company valuations for potential sale of the business itself.

The article focus on the increased value of three NFL football teams – the Patriots, Jets and Cowboys after they hired Coach Bill Parcells to turn around their football team. It then demonstrated the economic effect of that hiring to their overall corporate value.

During the Parcells tenure with the teams their total value increased by $1 billion dollars; which was $300 million more than the increased value they would have gained if their appreciation had merely tracked that of the entire league. Frankly, that number did not even allow for the fact that for at least some period of time there would be an added residual increase after Parcells left the team.

Naturally, it isn’t fair to say that it was just the fact that Parcells was promoted as the new Coach that increased the value of the team, because it was his coaching and performance that did the job. The better the team did, the higher the ticket prices were ,as well as the prices of other products. Overall sales increased as well, leading to higher valuations. Nevertheless, the name ”Parcells” now carries with it a value of its own, and that is the essence of the value of personal branding. This is true in football, business or even politics for that matter. At some point, the name becomes the brand and it has an intrinsic value of its own.

The conclusion we want to bring out to this study is the fact that personal branding or celebrity branding has many values including the pull and name recognition to catapult any business or professional practice. Don’t minimize the value as just a short-term boost but instead, see the longer term value added for yourself and your business.

Buzz Lightyear is yet another example of the continuing development of “personality branding” that Disney is so successful at. Buzz, not only has ventured into space but has his own attraction, ride and gift shop at Disney where you can buy his entire lineup of products. Surely another Buzz movie is on the way and Disney is already in discussions with the Smithsonian Institute for an exhibit at the National Air and Space Museum, which likely will be a home away from home for Buzz and company, solidifying the Buzz brand not just as a cartoon or toy figure but also as an educational product.

The lesson in all of this from a business perspective is to see how you can use your “personality” to build your brand. You can be the action hero in your own products world, and while you may not be able to give yourself a ticker-tape parade, you can participate in one. As an example, for about $2,000 you and a group of your friends can actually be in Universal Studios’ Thanksgiving Parade and hold the ropes to one of the giant balloons you see on TV. A little picture-taking of you holding a copy of your book or product, and you can produce a press release about you and your product appearing in the Universal Thanksgiving Parade. You could even join the new Buzz Lightyear promotion by buying the Buzz toy, putting him on your shoulder and taking a picture outside the Disney attraction. Your picture caption could read “Buzz welcomes you to Disney” or something fun to that effect. Or maybe take a video using a Flip HD Camera and post it on your web site or YouTube, and all of a sudden you are connecting in a new and fun way to your own customer base. Yes, publicity can be both fun and profitable…just ask Disney!

The SEC is very worried that fans will become their own broadcast stations for football games through the next generation of Flip HD cameras and so they are introducing rules they hope will stop the loss of their exclusive broadcasting rights before the loss begins. They are imposing new rules to prohibit fans taking pictures during games and posting them on Facebook, YouTube or Flickr. Oh yeah, just in case you wondered, you can’t Tweet about the games either.

If you think the SEC will be the only event organizer who sets new media policies, think again. The billion dollar TV rights buyers will demand the program sellers try and do something to preserve the exclusivity of their broadcast rights. Anyone with half a brain knows this is going to be like putting your finger in a hole in the dike. The over flow will be everywhere. How the SEC thinks they will enforce the new rules will be a question without an answer, although early on we may see some season ticket holders banned and a few lawsuits used to scare people just as in the days of early Napster.

The real answer the SEC and broadcasters are missing is the lesson social media brings us in the first place. More involvement by fans in the entire experience will only improve the interest in what is being broadcast and a rabid fan is more valuable than a fan who thinks big brother is watching his every move.

Trying to fight city hall has always been a losing proposition and the same is true for trying to bridle technology and fans. The more you try, the worse it gets. Transparency should be the new mantra for big institutions, government and yes, even football conferences.

In any event, both the play and the work were of great value and while I might write on my Facebook wall about the fun side of Disney, there is plenty to comment about on the “work” side of things.

Disney is one of the best studies of Personal Branding there is. Starting with the original brother Walt and running to the expanded personal brands of characters such as Mickey, Donald and Goofy, the company has now further extended to rock and television stars such as Miley Cyrus and the Jonas Brothers. Just like their cartoon characters, the Disney Company creates, packages and then builds an entire industry around the real life stars as well. Lest anyone think that the characters aren’t treated as people with their own specific brand position and product line you have only to look to Goofy, one of my favorites. Goofy has his own cartoons, hats, t-shirts, and even now a Goofy food company. What Disney does, and is one of the best at it is, “run deep” with every character and personality they have letting the market dictate how far they go.

The lesson to each of us is a reminder that we have an opportunity to do the same with our own personal brands. Don’t stop at offering just one level or one product of your own brand; see how far your brand will take you. If you are a dentist, be all you can be as a dentist but don’t be afraid to spread your wings and stretch out into other areas such as coaching other dentist who may not be as far along in their practice as you are with yours. Take some of your more successful dental marketing ideas and offer to license them out for dentist to use in other areas of the country were your practice isn’t located and won’t compete. In some cases you may find that your license fees become as profitable as your practice just as franchises have discovered franchise fees can be just as profitable as opening a store themselves.

We as individuals marketing our own personal brand have an unusual opportunity to expand in a variety of ways never before available because the internet has given us the ability to do this at minimal cost. The challenge is to take an audit of all the assets you have, determine who might profit from those assets including your knowledge, and reach out across the web to find those people and do business with them. There is a new frontier for growing yourself as a personal brand using all of the elements of online marketing and social media. The opportunities for profit are huge just as Disney has shown us. It’s all pretty exciting!

Back in the “old days” most things were bought on cash but if you didn’t have the cash to buy, retailers came up with a system called a lay-a-way plan. The retailer held the goods and you made payment to them. When you were done paying the full price you got your furniture, dishwasher or whatever. Christmas lay-a-way assured gifts for the kids.

Over the years, the plan morphed into giving you the furniture at the point of purchase and making payments. Then someone got the bright idea to charge interest and once that took off credit cards began. Soon, merchants were making more on their financing charges than the sale of goods (GE Capital) and the world of credit was born perhaps to all our chagrin.

History has a way of repeating itself and during this economic downturn the lay-a-way plan has made a comeback in various forms and from unusual sources. Who would have ever thought a Music Festival would be sold that way.

The Coachella Valley Music and Arts Festival in Indio, California offered a Lay-a-way plan this year for the first time in their ten year history. Customers had the option of buying their tickets over several months by putting 10% down and the balance over two additional months, with the final payment due prior to the event.

The payment plan was adopted because other festivals have had to cancel their events this year due to sluggish sales. The plan has been working. The organizer was quoted as saying, “without the lay-a-way option we wouldn’t have done so well”. Like any good idea it is also already being adopted at other festivals in Tennessee, New Jersey, and Arizona.

The NFL also now uses a similar payment plan for their season tickets. You start paying right after the season and get paid up before the new season begins.

We use a lay-a-way option in our own business. The Ultimate Celebrity Branding Experience™ payments are spread out over 12 months; franchise legal work and business consulting are all extended over at least 12 months instead of charging the full fee or requiring the total to be put on a credit card and the client getting killed by interest. We are convinced it has made a tremendous difference in everything we do and why our business is growing rapidly even in this economy.

We aren’t alone and several of our clients including Orthodontist, Donna Galante and Paul Cater (www.CGBraces.com) have added monthly payment programs to their standard pricing. Clearly others should consider doing the same no matter what your business.

If you adopt a variation of the lay-a-way plan in your practice we encourage you not to add interest. All of us are very serious about our dislike of interest payments right now, and we all would love to avoid paying it when we can. You will make more sales by not charging interest and that alone will increase your bottom line.

What this record shows is that people will pay for what they “think” is working, even in a recession. It is up to us to find what “will” work for our customer and give it to them. That is not to say that I think an ad that cost that much is even worth it if it isn’t direct response. It definitely reminds me of some of the advertising purchases during the dot come boom which saw the business quickly go broke after spending big money on their ads. We all need to remember it is the right kind of ads you buy that is important. And how can you tell if your money has been well spent if you can’t or don’t measure the results?

Remember, ROI (return on investment) is a number you must know and monitor on your advertising and marketing or you can’t compare where your money is going and pulling the best.

On the other hand…you probably won’t get your 30 seconds of fame on the Super Bowl if you are counting pennies.

The Bizidea lesson: Telling someone thanks is always a good idea and I don’t know if this is a nationwide movement for Southwest or just something the Las Vegas guys thought of but it works at two levels. People are happier when they are thanked and when you hear thanks for the tip said by many people while you are waiting in line you can’t help to feel like a jerk if you aren’t fishing in your pocket looking for a tip to fork out when you check your bag. In an economy where many people are cutting back they sure are forking over the cash in Vegas.

The next time you have a training session with any of your employees that deal with your customers (even if you are your lone employee) remind them to thank your customer for their business. You may not get a tip but over time you will be rewarded.

At 6 after the first day, everyone is invited to a cocktail party for a meet and greet. Free food and drink… so most attend including me.

Towards the end of the party and much to my surprise I was approach by two mid 20 something low v-neck type attractive young women. I knew at once something was up since it has been a number of years that a twenty year old approached me for anything.

“Hi”, the blond said extending her hand to shake and immediately establishing rapport. “What are you doing”, she added. Gawking was what I wanted to say but fortunately managed to come up with something about meeting new people to which she and her friend replied they were too. For the next few moments I found myself interested in hearing a slightly different sales pitch about how they were out meeting people too and inviting them to come out to their club. To make a longer story short, the Club was a “Gentlemen’s Club” and their limo would be happy to take me there and bring me back. The pitch was great but I declined and knew I had something to tell you.

The Biz Lesson…. Businesses everywhere are down because we are… whether we like it or not… in a world recession. We all have two choices. Hide our head in the sand and ignore the economy or face the fact and go out and get business. I don’t know whether the two ladies were self motivated or their club owner made a decision to take matters in his own hands and send some of his employees to find business and bring it back but that was exactly what he was doing. He wasn’t sitting back and moaning about the weather or any other excuse he might have come up with. He knew there were people in town at other places and one way he could reach them was to take the party to them wherever they were. My business side wanted to meet the owner and quiz them on their strategy. I didn’t think I could pull off explaining to my wife where I had gone to do a little research on business so I can only relay my observations to you instead. If the business isn’t coming to you, … go to where your customers are. Maybe that’s trade shows, Chamber of Commerce meetings or, like this one, cocktail parties. The point is, where ever your customer is, design a marketing plan to find your customer and go shake hands. It beats the wait. Think about it.

Clearly the big 3 dragged their feet in producing new car concepts that went with the times and their bottom lines are terrible. Yet seemingly nothing was being done about it. I am totally fine with paying big salaries to people who produce but just like football if the Coach or top player isn’t producing it is time for a change.

BizIdea: Take a look at your business. Reward the people who are producing and let go those that are not. Yes, those decisions are tough but delaying them will only risk the possibility that your business may find itself having to lay off even the producers. Moves like that makes no economic sense nor does it serve the core reason for being in business. To risk repeating. The purpose of business is to serve its customers in the best fashion it can and to make a profit so it can keep serving those customers. Miss either side of that equation and sooner or later your business will pay for it.

1. Get more credit cards. Yes, I know some people are advising against this because it could have an adverse affect on your credit score. I can argue about how that theory is wrong, but your credit score isn’t the important point today, credit is. The problem is that banks are raising rates on credit cards on any excuse they can find. Additionally, they are also freezing cap amounts and no longer extending credit. As you pay down the credit card, your cap automatically lowers. This gives you no more credit and makes that card worthless to you. You need to get more credit cards when you can so you have options if problems with your others occur. New cards often have low teaser interest rates for 6 to 12 months. We all know this can work against you when you hit the time deadline but in the meantime you can transfer balances on cards you are having rate spikes with today. Deal with today’s problems and then work on cures for the future.

2. Watch your merchant accounts carefully. Banks have the right at any time to pull out money for a reserve if they feel they need to. If you are counting on that money for operations, and all of a sudden it gets frozen, you can be in big trouble. The best recourse against this is to build a relationship with someone at the bank who works in merchant services, and the higher up you can go the better. The relationship isn’t a guarantee something won’t happen – because most of the banks are tied in with card processors and don’t do the work themselves. Nevertheless, you are better off with a bank advocate pleading your case then you are talking to the 800 number recording.

3. Establish more than one merchant account. Banks always want all your business but today you simply cannot afford to do that, or you may wind up with an account you can’t use – and it will take more than 30 days to get a new one. In the mean time, you can’t take new charges on your old merchant account so you lose lots of cash flow. Having a back up is an answer, and use both of the accounts for some of the processing each month so you always know they are working. Even then, alarms will go off when the account all of a sudden has more money running through it then the bank’s computers think is normal – but at least you should be able to explain that you are now using them for all of your processing, so that’s the reason for the spike.

4. Consider lining up one or more investors who are prepared to step in should you have a crisis. If your merchant account does get a reserve requirement slapped against it, you will eventually get the money so you could use that reserve for a private loan. I am not saying this is easy, but thinking about this and other resources before a problem occurs, gives you more time to act – because you know what you need to do and who you might call to help.

The Business Lesson: In business you cannot be prepared for everything, but you can be prepared for the things you know are coming and if you are not prepared, there is a great chance that mistakes can and will happen. There isn’t any excuse in that.

Not to long ago there was a very successful bestselling book call, Don’t Sweat the Small Stuff . While I understand the point the author was making about the importance of not getting stressed out, I hasten to point out that good business is the essence of sweating the small stuff. To review every detail of an event, sales letter, marketing campaign or new hire is important. If you can’t do it yourself make sure the person handling the job for you can or get someone else.

The Chief Justice of the Supreme Court made a mistake today that could have been prevented. Unfortunately, he will have to live with it. Don’t put yourself in the same position.

In every type of business, there is a gap in what the product or service provides the customer and what the customer really wants. We call this the Opportunity Gap.

Your job as the owner of a business – or even as an employee – is to find the opportunity gap and structure the exploitation of it to increase profits for the company.

It is easier to spot the opportunity gap by looking at some examples. After you learn to spot the gap, then focus your attention to your own business, and you may see an opportunity quickly.

Federal Express was built on the opportunity gap created by the post office snail mail delivery.

Dominos Pizza exploited the gap based on slow delivery and changed their policy to deliver in 30 minutes or less, guaranteed.

Re/Max Realty found an opportunity gap by paying real estate salesmen 100% of the commission.

By Owner Realty saw that percentage commissions were too high and filled the opportunity to help people sell their properties themselves.

Southwest Airlines exploited high fares and the uniformity in airlines.

Wal-Mart slashed prices and became the de facto choice of bargain hunters.

EBay brought auctions online, creating a unique marketplace.

There are hundreds of other businesses both large and small who found opportunity in a niche gap created in the marketplace. Sometimes, the gap is huge and allows great potential opportunity for the first mover who spots it. Sometimes, the gaps are small, but applied on a local level they can make a substantial return on investments. This occurs with lightening speed on the internet as entrepreneurs quickly move to take advantage of gaps.

Look at your business.

What are both you and your competitors not doing right now that could be exploited for additional gain?

What else do people who use your product or service need that they are not getting from you and have to go elsewhere to get?

These are questions to ask yourself on a regular basis until something changes and you see the opportunity gap. When you see it, act fast and try to protect your position by copyright, trademark, patent, or some other form of legal structure if you can. If you cannot do that, then move quickly and announce to the world that you are filling the gap. Fortunes have been made on less.

It is a good idea because there are frequently mistakes in them that lower your credit score and as we all know, credit is tightening. Go to the web site I have listed, and you can order free from one, or all three at the same time. If you order one now, you can then order from the other two over the course of 12 months so you can view your credit more often. Order all three at once and you’re done for 12 months, which I don’t think is as good.

http://www.annualcreditreport.com

What “secondary assets” or underused product or service do you have in your present business that you could use to make more money? While the opportunity may be in a similar arena to what you are currently doing, it may also be in a new direction. You may capitalize on something else you haven’t used yet or previously had the time to explore. Perhaps the opportunity is even outside of your company, such as a joint venture or applying your technology or know how to help someone else capitalize on what they don’t see or are not using to their advantage.

Whenever I think of ‘secondary assets” I always think of Post It Notes and how something can be discovered even by mistake, that can change the face of your company forever. What do you have that is underused?

This economic upheaval is making strange bedfellows. If the big three highly competitive auto makers can join forces to borrow on one of the biggest loans of our time it is clearly a sign that we should all consider our own venture opportunities we may have shunned in the past.

The SEC is very worried that fans will become their own broadcast stations for football games through the next generation of Flip HD cameras and so they are introducing rules they hope will stop the loss of their exclusive broadcasting rights before the loss begins. They are imposing new rules to prohibit fans taking pictures during games and posting them on Facebook, YouTube or Flickr. Oh yeah, just in case you wondered, you can’t Tweet about the games either.

If you think the SEC will be the only event organizer who sets new media policies, think again. The billion dollar TV rights buyers will demand the program sellers try and do something to preserve the exclusivity of their broadcast rights. Anyone with half a brain knows this is going to be like putting your finger in a hole in the dike. The over flow will be everywhere. How the SEC thinks they will enforce the new rules will be a question without an answer, although early on we may see some season ticket holders banned and a few lawsuits used to scare people just as in the days of early Napster.

The real answer the SEC and broadcasters are missing is the lesson social media brings us in the first place. More involvement by fans in the entire experience will only improve the interest in what is being broadcast and a rabid fan is more valuable than a fan who thinks big brother is watching his every move.

Trying to fight city hall has always been a losing proposition and the same is true for trying to bridle technology and fans. The more you try, the worse it gets. Transparency should be the new mantra for big institutions, government and yes, even football conferences.

In any event, both the play and the work were of great value and while I might write on my Facebook wall about the fun side of Disney, there is plenty to comment about on the “work” side of things.

Disney is one of the best studies of Personal Branding there is. Starting with the original brother Walt and running to the expanded personal brands of characters such as Mickey, Donald and Goofy, the company has now further extended to rock and television stars such as Miley Cyrus and the Jonas Brothers. Just like their cartoon characters, the Disney Company creates, packages and then builds an entire industry around the real life stars as well. Lest anyone think that the characters aren’t treated as people with their own specific brand position and product line you have only to look to Goofy, one of my favorites. Goofy has his own cartoons, hats, t-shirts, and even now a Goofy food company. What Disney does, and is one of the best at it is, “run deep” with every character and personality they have letting the market dictate how far they go.

The lesson to each of us is a reminder that we have an opportunity to do the same with our own personal brands. Don’t stop at offering just one level or one product of your own brand; see how far your brand will take you. If you are a dentist, be all you can be as a dentist but don’t be afraid to spread your wings and stretch out into other areas such as coaching other dentist who may not be as far along in their practice as you are with yours. Take some of your more successful dental marketing ideas and offer to license them out for dentist to use in other areas of the country were your practice isn’t located and won’t compete. In some cases you may find that your license fees become as profitable as your practice just as franchises have discovered franchise fees can be just as profitable as opening a store themselves.

We as individuals marketing our own personal brand have an unusual opportunity to expand in a variety of ways never before available because the internet has given us the ability to do this at minimal cost. The challenge is to take an audit of all the assets you have, determine who might profit from those assets including your knowledge, and reach out across the web to find those people and do business with them. There is a new frontier for growing yourself as a personal brand using all of the elements of online marketing and social media. The opportunities for profit are huge just as Disney has shown us. It’s all pretty exciting!

Vegas is…well…Vegas. There may be a slowdown in people who are here but there are buildings being built and cranes moving, so I guess the city developers didn’t read about the recession or some are just getting ready for the turnaround. The hotel for the event is called the Palms and I have discovered that it is the only Playboy Club in existence. Wonder what they paid Hef for that license agreement?

Anyway… I was in the elevator on my way to my room and it was flying through floors at what seemed like unusually fast speeds. I wondered why they felt it was necessary to add so much speed. Then it dawned on me. Money. Of course…follow the money. The faster you get out of the elevator, the faster you get on the floor and bet money. I will bet there is some green visor genius sitting in some accounting office in Dubai figuring out the numbers for how much more money they make if they get every gambler out on the tables x minutes fast over the course of a year, several years etc. I bet it pays for all the elevators and then some.

The business lesson : It’s all in the details. If your telephone is answered faster is your prospect less irritable and more likely to buy? For some businesses the question may be if your phone is just answered is there a better chance your prospect will buy. You get the point. Details can make a big difference particularly now in slower times. My suggestion to us all is to do a walk around our business and see what is going on. Are there details that can be altered just a little in a phone script to increase your numbers? Are your employees offering additional products to clients when they speak to them. These little bumps should be high margin items that boost you profit per sale. The saying is that “the devil is in the details”. I say it’s the “money” in the details.

Senator Kennedy and Rep. Rosa DeLauro are pushing the “Healthy Families Act”. Who could object to a wonderful name like that?

The bill requires any firm who has 15 employees to provide a minimum of 7 days of paid sick leave. I have no problem with that and have always had sick leave days in my companies. My preference is that you don’t come in when you are sick and spread whatever you have to everyone else. The problem with this law comes in the form of detail. The bill allows you to take the leave anytime and in the smallest increment the employer tracks payroll, and no notice is required. This kind of language would allow an employee to show up consistently late with no advanced notice, ultimately causing all sorts of problems with real staffing issues, especially in shift positions. An employer would have no retribution for such tardiness and disruption to everyone else.

There are other new bills coming down the pipeline, which impact our business. I encourage you to look beyond their names and see what the real affect they will have on your business. If you like them, great – but if you don’t, let your Congressman or Senator know they need to make some changes. To do nothing is a mistake.

During this recession and economic pullback, price can have an appeal and if you can compete on that level than you should point it out loudly and even make it a competitive advantage.

A couple of interesting examples and how value can be successfully marketed is Validas (www.myvalidas.com) and InchWorm Shoes (www.inchwormshoes.com).

Validas offers to shave an average of 22% off your mobile phone bill by letting them analyze what you are currently paying and making some suggested changes. You can upload your bill and pay $5 for a report that shows a breakdown of usage, compares carriers, and makes other suggestions for saving money.

InchWorm Shoes is a clever example of problem solving. We all know the cost of shoes and for kids how fast they outgrow them. Inchworm Shoes has a special technology that allows you to increase the size of your child’s shoe by pushing a button and pulling on the toe. Shoes can grow in half size increments and can expand up to three sizes… now if they could just do that for men’s pants I’d save a ton.

Keep thinking about the benefits your products and services have and remember …price can be a successful one.

We tried taking some pictures of some very unusual thing, and the order information we got back was at least always interesting. But if you took a picture of something normal like a book or electronic gadget, the results were right on.

Apparently the service uses a combination of computer technology and human interference, which I am sure will be decreased as time goes on. This is not only a cool new service for ordering, it can be a great price comparison system. (My tech son-in-law tells me there is an app that scans bar codes even better but I haven’t done that yet.)

It really is quite a gadget that really works, so check it out!

Who is making money now and what are they doing?

Let me give you an example. Six months ago Mortgage brokers were dying on the vine. Many talented people in the industry went broke or moved out of the business because the mortgage industry dried up.

Now, things are changing. No, not everyone is making money but some are, and the industry is starting to turn because interest rates are falling. When long term rates fall far enough, people begin to refinance.

Refinancing is a sweet spot in the mortgage brokerage business because anyone with property and an interest rate about 1.5% higher than the refinance rate is a candidate to refinance and the sale to those people is starting to become a no brainer. Once the rush begins, history shows us that money is to be made fast for those that get their business lined up and a system to process it. So who is making money now…The mortgage brokers who are flexible are starting to and the trend will now be up not down. People that begin to follow the trend will reap some great rewards.

What else is starting to change again in the economy or, to say it another way…who is making money now? Follow it.

Normally I have a policy for street people and when they ask for a little donation, I give it to them. I was a bit stunned, but not that blinded, and this guy got zip.

Guess he was working the averages but I never saw him get any money.

What’s the business lesson?

Always ask for the order and never stop. Sure we all get our share of no’s but a yes is sure to be just around the corner.

In the July issue of our newsletter, I talked about opportunity brought about by economic upheavals. The government bailout that Congress just passed is the next opportunity.

There is no question that all of our customers and clients are concerned about what is going to happen next, and rightly so. However, as I mentioned in the previous newsletter, problems mean opportunity.

Problem: People are being laid off.

The Opportunity: Job-training programs, employment agencies and entrepreneurial training are all businesses that can prosper. I think that franchising (one of our businesses) will get interest from lots of people who have previously been interested in doing something else, but have been reluctant to move because they had a good job. Now they may be unemployed and the decision is made for them. Many of these people have some money saved and realize that they need to do something with it before they spend it trying to hold out.

Problem: Real Estate foreclosures.

The Opportunity: The government bailout will create multiple opportunities by offering real estate to investors who are willing to move it off the banks’ books. Sure, the investor will have to hold the property for a few years, but you may be able to buy at 20 cents on the dollar.

Problem: Lenders not making loans.

The Opportunity: In the past, people have put together private pools of money to back local projects for a good interest rate; and since there are not many good investments out there this will get interest again.

Look in your own town and see where the problems lie. Wherever the problems are, the guy that can help solve them can do some good and make some money. Those of you who remember the last government bailout (The RTC) in the late 80s early 90s know what I mean. Fortunes were made solving problems then, and new fortunes are going to made solving the problems again.

1. Thanksgiving Cards: September is almost over and it is time to order your Thanksgiving “thank you” cards. We have long promoted sending these out to your clients because Thanksgiving is a universal holiday and it is perfect for giving … thanks! Thanksgiving cards can be funny, serious or fun — and the turkey isn’t sensitive. Order a bunch of cards, sit down with your address book, and write away. Try to say something more than just your name, and do not use an email card. I am talking about a physical card with real ink handwriting.

2. The Presidential election is November 7^th: This means everyone will be thinking about the election so it is a perfect time to use it as a reference point in your correspondence or sales copy to customers. Remember, starting a sales letter using a point of reference already on the mind of the reader is a great way to engage the reader and avoid being thrown the “B Pile” or “C Pile” of their mail, which may never get read.

3. Look in your old ad file for an ad that worked before and brought in business. We all change our ads from time to time, and sometimes we forget ones that worked great but that we just stopped using for some reason. Yes, that was a mistake — but turn lemons into lemonade by pulling out the old ad and running it again. By the way, if it works again, keep using it this time until it stops making you money. A good ad is like printing money.

4. Speaking of printing money … if you find an ad in your business that works, consider offering it as a license to other people in your industry outside your market area. They will pay you for the right to run an ad that you can prove works. If you doubt this concept, just ask yourself if you would pay for an ad proven to produce instead of wasting money starting from scratch? Of course you would. If you need help putting this together and selling it to others, let us know. We can help you put one together.

5. Market More! You may not have heard this recently, but it’s a gentle reminder. Most people have a tendency to cut back on spending money for marketing when the economy slows. The only possible way I agree to that is if you have no idea of your ROI on your marketing dollar. If you do know that each time you implement a certain marketing strategy it brings you in a certain amount of money and profit, then you should increase your marketing — not cut back. If you do not know your ROI, then you need to find out, but that is a different story. Increase your marketing if you know your ROI is positive.

“The whole show is about connecting with our audience.”

That one line is the essence of the business ideas we talk about in this newsletter. “Your whole business is about connecting with your customer, just like ours is about connecting with you.” The better we all become at making the connection, the stronger the relationship becomes.

Telling stories is not only one of the oldest forms of communication; it is also one of the most effective. Accepting this statement as true should help you see why creating a business story is a reliable way to connect, and to create a bond with your customer that helps you rise above your competition in their eyes.

Your business story should be real and personal. The more you can connect your story to your customer, the more it will help your business. This is why we often talk about the importance of finding a niche market with which you can identify. Telling your story to your niche market helps them identify with you. Sometimes the stories and the identification become so strong, that customers will not even consider going somewhere else for their business. Doing business with you at that point becomes more than buying a product, it is a relationship.

Using the power of storytelling is easy to see in the political arena, and we are being bombarded by it the closer we get to the Presidential election. Both Senator Obama and Senator McCain are masters at the art of telling their story. Obama’s is the classic story of the struggling hero who overcomes obstacles and finds himself on the hero’s quest. John Mc Cain’s story rests more on his past successes, and the experiences of a hero who is now able to step in and solve the crises the country faces.

You and your company should learn from the lessons we are seeing in the political arena to create your story and sell it to your customers. By create I do not mean make it up, but show people who you are, what you have learned and how this relates to your business and your customers. I still remember Lee Iacocca’s personal appeal on television to get people to do business with his company. His challenge to the American car buyer was bold and simple, “If you find a better car . . . buy it!” Surely no one would make that kind of statement unless they were supremely confident in their product. Consumers bought the dare and it saved the company.

Other stories have been used to put a face and an image on a company. Disney did it twice; once with Walt himself, and later with Michael Eisner — both of whom came into your living room via television to tell you a story and create an image. They don’t call Walt Disney ‘Uncle Walt’ for nothing. It was done to create a particular image and it succeeded.

Although stories are unique to the company and individuals running them, they do follow themes. Examples are the “Mother” (Opra), “General” (Iacocca, Jack Welch), “Statesman” (all former Presidents), “Wizard” (Steve Jobs), “Explorer” (Richard Branson), “Faithful Servant” (Al Gore), and “Wise Man” (Warren Buffet). Naturally, these themes rise and fall with the times — as heroes sometimes turn into villains then goats and back again to hero — ala Martha Stewart.

What is your story? What is the story of your company and your brand itself? How did it all come about and what is the connector to your market and customer base? The more you are able to answer these questions, and more importantly, the more you understand the importance of the story and constantly reinforce it, the stronger the bond you will build with your customer.

Thumbing through my new issue of the Robb Report, (today’s “Wish Book” for men), my eye was drawn to the article about a $50,000 mattress.

The article caught my eye because Linda, my wife, had just purchased a couple of new mattresses for one of our guest rooms, and a wave of fear momentarily ran through my body before monetary reality helped me “know” her credit card didn’t go that high and such a purchase was impossible. In any event, once captured by the article, I read it.

While it is always interesting to muse on the thought that the old $50,000 record price had been replaced by a $75,000 version, this was not the point that my mind began to focus on. Instead, it was the main lesson of the entire magazine. There are two economies going on in the world simultaneously. One is the economy of higher gas prices that spoil the whole day of many Americans who get depressed every time they fill up. The other, is the economy of the ‘Affluent,’ as marketing guru Dan Kennedy, labels the other group of people in the newsletter he writes on the topic each month.

There have always been economic differences in this country, and the world for that matter. We might wish that it weren’t true, but pretending otherwise is simply not to face the truth. It is also not the target of this article.

The point to focus on here is the lesson that, to the extent you can, now is the time to refocus your business on that group of people who can afford your products or services, or at least a certain segment of your offerings. If you don’t have a product or service that is targeted to this group, you should create one so that at least one area of your business is less affected by the weak side of the economy.

Here are some examples to consider:

· A doctor could have a high-end portion of his practice that offered special service and extreme physical checkups

· A car dealership could offer a concierge level for its high-end clients that had free car use, special waiting rooms, client appreciation days, and a breakfast club

· A funeral home could offer a special offering of wakes that included catering service, or special spots to spread ashes — like the top of the world

· A law firm could provide total annual service for a flat fee or a monthly continuity program. The same for a CPA or other professionals

· Retail stores could slot their offerings so a mattress company could have regular mattresses, but also a “behind the velvet ropes” display of the $50,000 mattress. . (Similar to the way Vegas Casinos display the $1,000,000 cash prize)

· A dry cleaner could offer pick up and delivery for customers of its monthly “Inner Circle”

· A barber shop could have a monthly membership club that offered special prices and services

· A pizza restaurant could offer “all Organic” or a Gourmet membership level

And in case you haven’t guessed, all of these examples have been done, and done successfully. How can you do it in your business? What way can you create a level of service or a higher price line of products that appeals to the economic group that is still spending? Answer this question for yourself and the price of gas won’t depress you as much.

1. Get more credit cards. Yes, I know some people are advising against this because it could have an adverse affect on your credit score. I can argue about how that theory is wrong, but your credit score isn’t the important point today, credit is. The problem is that banks are raising rates on credit cards on any excuse they can find. Additionally, they are also freezing cap amounts and no longer extending credit. As you pay down the credit card, your cap automatically lowers. This gives you no more credit and makes that card worthless to you. You need to get more credit cards when you can so you have options if problems with your others occur. New cards often have low teaser interest rates for 6 to 12 months. We all know this can work against you when you hit the time deadline but in the meantime you can transfer balances on cards you are having rate spikes with today. Deal with today’s problems and then work on cures for the future.

2. Watch your merchant accounts carefully. Banks have the right at any time to pull out money for a reserve if they feel they need to. If you are counting on that money for operations, and all of a sudden it gets frozen, you can be in big trouble. The best recourse against this is to build a relationship with someone at the bank who works in merchant services, and the higher up you can go the better. The relationship isn’t a guarantee something won’t happen – because most of the banks are tied in with card processors and don’t do the work themselves. Nevertheless, you are better off with a bank advocate pleading your case then you are talking to the 800 number recording.

3. Establish more than one merchant account. Banks always want all your business but today you simply cannot afford to do that, or you may wind up with an account you can’t use – and it will take more than 30 days to get a new one. In the mean time, you can’t take new charges on your old merchant account so you lose lots of cash flow. Having a back up is an answer, and use both of the accounts for some of the processing each month so you always know they are working. Even then, alarms will go off when the account all of a sudden has more money running through it then the bank’s computers think is normal – but at least you should be able to explain that you are now using them for all of your processing, so that’s the reason for the spike.

4. Consider lining up one or more investors who are prepared to step in should you have a crisis. If your merchant account does get a reserve requirement slapped against it, you will eventually get the money so you could use that reserve for a private loan. I am not saying this is easy, but thinking about this and other resources before a problem occurs, gives you more time to act – because you know what you need to do and who you might call to help.

It is a good idea because there are frequently mistakes in them that lower your credit score and as we all know, credit is tightening. Go to the web site I have listed, and you can order free from one, or all three at the same time. If you order one now, you can then order from the other two over the course of 12 months so you can view your credit more often. Order all three at once and you’re done for 12 months, which I don’t think is as good.

http://www.annualcreditreport.com

Senator Kennedy and Rep. Rosa DeLauro are pushing the “Healthy Families Act”. Who could object to a wonderful name like that?

The bill requires any firm who has 15 employees to provide a minimum of 7 days of paid sick leave. I have no problem with that and have always had sick leave days in my companies. My preference is that you don’t come in when you are sick and spread whatever you have to everyone else. The problem with this law comes in the form of detail. The bill allows you to take the leave anytime and in the smallest increment the employer tracks payroll, and no notice is required. This kind of language would allow an employee to show up consistently late with no advanced notice, ultimately causing all sorts of problems with real staffing issues, especially in shift positions. An employer would have no retribution for such tardiness and disruption to everyone else.

There are other new bills coming down the pipeline, which impact our business. I encourage you to look beyond their names and see what the real affect they will have on your business. If you like them, great – but if you don’t, let your Congressman or Senator know they need to make some changes. To do nothing is a mistake.

It was the 3^rd of July, and I was on the front porch of my beach house unfurling my American flag and getting ready for the annual 4^th of July party bash.

Across the street, I noticed two neighborhood kids busily setting up a card table and lawn chairs in front of their house, close to the road. I had a sneaky suspicion I was about to spend some money.

I watched the kids for a while from a distance as they finished off a sign that I imagined announced what they were selling. One of the two took the sign across the street to set up for traffic approaching from the other lane. The older of the two gave hand signals indicating the direction of the placement of the advertisement. Occasionally, the voice of the older brother rose — indicating displeasure with the slowness of his younger sister.

I waited for awhile before I visited the booth because I wanted to give our young entrepreneurs a time to settle in.

“What are you selling?” I called to the kids from my car when I pulled up to the stand.

“Lemonade!” the youngest yelled back quickly, glancing at the large sign above their stand, wondering, I was sure, whether they had forgotten to proclaim the name of their product on the sign, or whether I was just a poor reader.

“Twenty-five cents a cup?” I inquired indicating that truly I could read.

“Yes, sir,” the youngest said, grinning from ear to ear and creating a picture Norman Rockwell would be proud to have painted. “Would you like some?” the child continued.

“Sure would,” I said, and waited for them to deliver the quickly-served plastic cup.

“How’s business?” I asked as my drink was delivered.

“Ok, we’re just getting started,” was the reply. “But we usually do great. We’ve got a good location on the main road, and our sign makes people stop.

“Have you done this before?” I asked, knowing the sound of experience I heard.

“Yes, sir. Every summer,” the youth replied.

“What’s the secret to your success?” I followed up, wondering if they knew what they were doing.

“Well, we smile a lot and act friendly,” she said, after a couple of prods from me to think about it.

“What do you do if someone doesn’t like your lemonade?” I asked.

“I’d give them back their money and pour it out,” she said, but added quickly with her salesman’s smile, “But I haven’t ever had anyone yet who didn’t like it.”

Our conversation sort of ended after that. I could tell she wanted to get back to her work, and, after all, I was an adult.

She took my money and tip and headed back to her stand to wait for the next customer to arrive.

My jaded side smiled and wondered whether our government regulators would require them to have a business license to operate their stand. Did the health department approve this operation, even though it didnt have a bathroom facility and they didn’t wear hair nets when they poured the lemonade? I knew their sign was in violation of zoning, and I’ll bet she didn’t report her tip to the IRS on her 1040. Yes, that was my jaded side, and forgive me for it.

My entrepreneurial side was proud — proud of the tradition that sets us apart from much of the rest of the world — the tradition that applauds the nation of capitalism and the start-up ventures which are the backbone of our economy.

I noted that even at this early age, Americans still know how to make money. More than that, they instinctively know what it takes to be successful in business:

1. Have a good product.
2. Find a good location on a main road
3. Advertise with a sign or other appropriate method
4. Smile a lot and act friendly
5. If a customer doesn’t like your product, give the customer back his money, and throw the product out

If you are looking for a formula for success, here it is from the hearts and minds of two pre-teens with a yearning for success.

Happy Birthday, America, I thought! Thanks for the opportunity you give us.

During this recession and economic pullback, price can have an appeal and if you can compete on that level than you should point it out loudly and even make it a competitive advantage.

A couple of interesting examples and how value can be successfully marketed is Validas (www.myvalidas.com) and InchWorm Shoes (www.inchwormshoes.com).

Validas offers to shave an average of 22% off your mobile phone bill by letting them analyze what you are currently paying and making some suggested changes. You can upload your bill and pay $5 for a report that shows a breakdown of usage, compares carriers, and makes other suggestions for saving money.

InchWorm Shoes is a clever example of problem solving. We all know the cost of shoes and for kids how fast they outgrow them. Inchworm Shoes has a special technology that allows you to increase the size of your child’s shoe by pushing a button and pulling on the toe. Shoes can grow in half size increments and can expand up to three sizes… now if they could just do that for men’s pants I’d save a ton.

Keep thinking about the benefits your products and services have and remember …price can be a successful one.