CATCHJSBUFORD

Your Predictability is Found In Your Process

Posted by JuJuan Buford @JSBUFORD

 

Who is your target market? Your ideal client? Or buyer persona? 

Understanding who your ideal customer really is, or what many refer to as your buyer persona is critical. It doesn’t mean you dismiss potential clients, but you need to know who is already seeking or predisposed to patronize you, don’t need much in the way of education regarding your value proposition, and can easily afford your services. Your branding, marketing and prospecting techniques, and how you execute your client services should all be geared to attract and retain your ideal client. 

Besides, not being willing to do the work. This unarguably kills a small business faster than anything else. There is a famous axiom out there about money not being everything. Well, it is, if you don't have it. Capital is the lifeblood of your business. The following questions are designed to help you put together a process to help you consistently enjoy cash flow.   

In order to curate processes that work, you must identify the habits that work. This lays the groundwork for you, the self employed entrepreneur, to grow from a team of ME to a team of WE. In other words, transition from being a practitioner or creative that is owned by their business, to becoming a business owner, building an asset (organism that breathes, produces, and re-produces) that generates revenues independently of you having to do everything.

Let's begin!!

 

CREATE A LIST The list is your starting block. In the previous questionnaire you were asked to identify your niche and the 3 unique characteristics that set you apart from the rest of the field. Now it's time to identify those individuals or business entities that will be most receptive to both. At some point you are going to establish a database/CRM of all your prospects and clients, so you can track your progress and quickly identify where your process may be failing you, or serving your interests. 

How big should the list be? Big list. Big checks. Small list. Small checks. No list. No checks. I encourage you to start a Project 100: build a list of prospects until you reach 100 names on your list. For those working in the B2C market (to a lesser extent the B2B market), the following memory jogger may be helpful. 

 

WRITE DOWN YOUR PROCESS Your process is the track you run on. Every professional, entrepreneur, and business has a process. If you don't have a process, that is your process. Processes allow you to inventory your RGAs (revenue generating activities) systemically, and the predictability of your business is found in your RGAs. It is where the fodder is found to begin to make projections about your profitability in the future.

Not having a proven process is tantamount to waking up, jumping in your car, and attempting to drive to an overseas destination you've never visited before without a map or a compass. For the purposes of this exercise, I'm going to provide a simplified process that applies to most business models generally.

1. How do I ensure that new people are learning about my business on a daily basis? 
1. Social Media Campaigns, 
2. Inboxing Prospects Online,
3. Cold Calling, 
4. Referrals, 
5. Email Campaigns, 
6. Door Knocking, 
7. Networking Events, 
8. Open Houses, 
9. etc.  
1. How many new people do I need to introduce to my business on a daily basis for it to be viable? 
2. What kind of tools or marketing artifacts am I going to use to introduce my business offerings? 

 

1.  Once a new prospect is aware of my services or products, how do I help them make an educated buying decision? 
1. Landing Pages & Sales Funnels 
2. Invitation to a Zoom Presentation or Webcast 
3. Schedule a One on One Appointment 
4. Social Media Tutorial or Presentation: YouTube, Instagram, SoundCloud, etc. 
5. Website 
6. Invite to a Demonstration
7. Seminars
8. etc.
1. How many guests (people who have seen a presentation of some kind) must learn about my presentation in order to onboard a new client? 

 

Here is a simplified formula I still employ to this day, when I’m attempting to assess the amount of work and resources I will need to employ to reach my target. 

Simplified Formula for Sales Success

Your income goal per month:

Average compensation / NOI (net operating income) per sale:

What is your closing percentage?

Days per week (52 weeks/12 months) = 4.33

Number of days per week you will work building your dream:

 

Example:

Income Goal $8,333.33 divided by,

Average Compensation $300 divided by,

Closing Ration 30% divided by

Days per Week 4.33 divided by

Chosen Number of Work Days 5 =  4.5 presentations daily

 

 

1. Once I’ve taken on a new client, what steps am I going to take to make sure they are a happy client? 
1. What is the System for Following Up to Confirm Their Satisfaction? 
2. How Do I Confirm or Deliver the Guarantee? 
3. How Do I Ensure Services/Products are Meeting Expectations? 
4. How Do I Continually Engage My Client After Their Purchase? 

 

1. What process do I have in place to obtain referrals on a consistent basis? 
1. Email Campaigns
2. Phone Calls
3. Text Messages
4. CRM - Automated Messages
1. Do I have a Script/s?
5. Social Media Group, Membership Club, Subscription 
6. etc.

 

Over the course of time you want to be very intentional about documenting your scripts and inventorying what tools you are using. WHY?  When it’s time to grow from a team of ME to a team of WE, this process will reduce your hiring, training, and supervisory expenses. Plan with the end in mind. 

Give your process or approach a name. In one of my organizations, I refer to it as Our Uplifting Service Agreement. Once you’ve named (branded) your process, at some point you’ll want to create some type of marketing artifact, logo, symbol, or image that people can identify with your process (prospects, clients, and employees alike). 

 

 

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When Do You Go Full Time In Your Business?

 

 

 

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Share Tweet Forward Share WE BELIEVE ENTREPRENEURSHIP IS EMPOWERMENT.  IT’S FREEDOM. THE FREEDOM TO EXPLORE, SHAPE, AND EXPRESS ONE’S SELF UNABASHEDLY. By JuJuan Buford How a Customer Relationship Manager (CRM) Can Help You Build Your Customer Base    Posted by JuJuan Buford @JSBUFORD You have a proven product or service, your fine tuning your elevator pitch, and  as a result of your prospecting strategies you’ve reached a point whereas the stress of balancing making dials, staying relevant via social media, and meeting the right prospects (I’ll elaborate) is starting to feel overwhelming. At the end of the day, there are so many hours available to spend between making 20, 50, or 100 dials, giving presentations and servicing your customers, and managing all the other stuff that is required to keep revenues coming in.  What you really want is to meet more idea prospects, make them happy clients, and acquire more leads. The aforementioned will allow you upgrade your capacity (hire better people) to offer more or upgraded services, increasing your value proposition, allowing you to increase your prices, ultimately allowing you to enjoy increased cash flow. In other words, create a more system approach to finding and engaging ideal clients.  How can a good customer relationship manager (CRM) help you achieve all of the aforementioned?   A CRM CAN HELP YOU BETTER MINE YOUR BUSINESS  One of the greatest benefits of a CRM is it helps you identify who and where your focus should go. At some point, we have to begin to identify who our ideal customer is, and thus curate our marketing and prospecting strategies to attract our ideal prospect. What do I mean by this?  (A) Prospects = Prospects that are already very much motivated to buy what you're offering; have enough disposable income to easily afford the 5 Star treatment; and appreciate your professional approach. (B) Prospects = Prospects that require some education regarding how conducting business with you can improve their lives; have disposable income; and arrive on time for the appointment. (C) Prospects = Prospects that need or require your assistance, but choose to wait until the the brake pads are whittled down to nothing, the engine light is blinking, the car is spewing steam into the atmosphere before they make a decision. Working with them might cost you more than you're going to earn (it's a non-profit endeavor, almost every time), and their arriving on time would be a good start. In an ideal world, you want to spend the majority of your efforts and resources contacting and engaging your (A) prospects or what many refer to as your buyer persona. If you’re still waking up in the morning and calling from a legal pad, prospecting worksheets, or an email list, after you get beyond 100 contacts it is imperative that you switch to a more systematic approach. Making this transition will also better help you track... (continue reading at Learn How A CRM Can Give You a ROI You Can Count On?) NEED A BUSINESS COACH Business Blog About All Things Business Related. Marketing & Sales Tips. Information About How to Become Investable, Build Business Credit & Acquire Financing. Networking Tips. Create Credibility and Acquire More Clients. Leadership Matters.    https://www.catchjsbuford.com/  Featured Articles!  Cheat Sheet Regarding How to Establish Business Credit    What Questions Should You Ask When Starting a Business?   Important Business Documents   Starting Up An LLC in the State of Michigan  WHEN DO GO FULL TIME IN YOUR BUSINESS?  NEED A BUSINESS PLANNING LAW FIRM About Us   We are a business solutions organization with an international footprint serving professionals who wish to transition into entrepreneurship, and providing guidance and technical assistance to established entrepreneurs and investors seeking to launch, grow, and scale their endeavors from a team of me to a team of we.   JuJuan Buford, Managing Partner 888.549.9689 / jsbuford@thebufordco.com / https://linktr.ee/jujuanbuford Schedule an Appointment  https://bit.ly/SmallBizArchitectureMeetUp IS THERE MORE! WELL.... YES THERE IS. SUBSCRIBE TO LEARN MORE   https://bit.ly/yesthereismore   Copyright © *|CURRENT_YEAR|* *|LIST:COMPANY|*, All rights reserved. *|IFNOT:ARCHIVE_PAGE|* *|LIST:DESCRIPTION|* Our mailing address is: *|HTML:LIST_ADDRESS_HTML|* *|END:IF|* Want to change how you receive these emails? You can update your preferences or unsubscribe from this list. *|IF:REWARDS|* *|HTML:REWARDS|* *|END:IF|*

What Kind of Business Should You Start? You've Lost that Loving Feeling For Your Current Business (GASP!)

 

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Share Tweet Forward Share WE BELIEVE ENTREPRENEURSHIP IS EMPOWERMENT.  IT’S FREEDOM. THE FREEDOM TO EXPLORE, SHAPE, AND EXPRESS ONE’S SELF UNABASHEDLY. By JuJuan Buford If you find yourself feeling disenchanted with your business, it’s not an abnormal feeling. We’ve all been there. However, when you feel overwhelmed or exceptionally bored with the overhead of being an entrepreneur…   o·ver·head : the boring, monotonous everyday chores like cold calling, checking emails, responding to low priority conflicts, dealing with people who are not ideal clients or prospects, repeated conversations regarding company expectations that you assume your business partners, vendors, and staff would get by now, etc., etc.,      For days at a time, and it reaches a point where you aren’t able to summon the enthusiasm to serve your clients, be what your business requires of you, and grow your enterprise we have a problem.     When I observe these behaviors in established, beta-tested entrepreneurs or I discover an inability or lack of willingness on the part of a new entrepreneur to invest the necessary energies to launch their venture (or the question of “I don’t know what to do.”), it usually boils down to incongruence between a person’s core focus and the work.      We all understand on a base level what it feels like or what it means to be doing meaningful work that fills us with satisfaction, versus the drudgery of toiling at something that doesn’t energize or motivate us. The challenge is most entrepreneurs (gasp!) haven’t taken the time to identify what really matters to them. Most of us are spending our mental energies attempting to be, move, attire, and adorn ourselves in the expectations of others… to a fault.    Too many of us are scared.    But it takes real courage to live a life of satisfaction. The degree to which we live truly happy, fulfilling lives shrinks or expands in relationship to our willingness to live in our values and truths. And very few of us have taken the time to truly define what we truly value. What truly gives us energy. Nice watches, cars, yachts, shoes, or fierce competition may be your thing. You may enjoy helping people and the altruistic desire to help others achieve their utmost potential may drive you. You want to end world hunger or water scarcity. The pursuit of knowledge, skill, and power may empower you. Or you simply desire that every day be an extended vacation in Maui, having fun, sipping wine, and listening to the waves. Do YOU.    The other challenge. It’s tiring. Your brain only comprises 2% of your human body weight but spends 25% of your energy. And very similar to a muscle, the harder you work it the more fatigued, agitated, or frustrated many of us become. Defining your values and your why is a skilled trade and it is a process. However, here are a couple of questions to help you with your journey.    #1. What Are Your Values or What Do You Value? Examples… Make a list and choose only three.  I’m committed to God and country I’m an excellent parent  I believe in education I exemplify excellence and professionalism I’m committed to financial independence and prosperity  I believe community service is how you pay for the blessing of living bountiful society I value freedom, choice, and agency I value enjoying life and having fun I value the earth’s environment I love dancing and being sunshine to others     #2. What is the one thing you could do that would have the greatest impact on the lives of others?    #3. What are the top three things you could do personally that would make the greatest impact in your life?    #4. What kind of person do you want to be? And by extension, what kind of business do I want to build?    #5. What activities have I most enjoyed doing in my professional life?    #6. What are the skills, knowledge, or talents that I possess? What do people say I’m highly effective at?    #7. What is my core focus or the focus of my business? Why does your business exist beyond being profitable? Make a list and choose only three.   To help people live lives of satisfaction through entrepreneurship To help women overcome financial, relationship, & emotional distress To help men adopt & sustain a healthy mindset To serve the best, most smacking waffles ever known To help people achieve optimal physical performance  To use my art to make people smile and forget their worries To help people learn how to forgive and progress through trauma.   The answers to these questions are where your power, your energy, and the best use of your focus and time lie. As you answer these questions you’ll begin to see the same themes, ideas, activities, and subjects emerge.    Remember, answering these questions is a process and people who’ve already performed this exercise numerous times already will need at least a couple of hours to complete it. You may need to seek feedback or converse with a business consultant to help you navigate this process. NEED A BUSINESS COACH Business Blog About All Things Business Related. Marketing & Sales Tips. Information About How to Become Investable, Build Business Credit & Acquire Financing. Networking Tips. Create Credibility and Acquire More Clients. Leadership Matters.    https://www.catchjsbuford.com/  Featured Articles!  Cheat Sheet Regarding How to Establish Business Credit    What Questions Should You Ask When Starting a Business?   Important Business Documents   Starting Up An LLC in the State of Michigan  NEED A BUSINESS PLANNING LAW FIRM About Us   We are a business solutions organization with an international footprint serving professionals who wish to transition into entrepreneurship, and providing guidance and technical assistance to established entrepreneurs and investors seeking to launch, grow, and scale their endeavors from a team of me to a team of we.   JuJuan Buford, Managing Partner 888.549.9689 / jsbuford@thebufordco.com / https://linktr.ee/jujuanbuford OUR GOAL IS TO HELP 100,000 HOUSEHOLDS BECOME EMPLOYERS OVER THE NEXT TEN YEARS.  Schedule an Appointment  https://bit.ly/SmallBizArchitectureMeetUp IS THERE MORE! WELL.... YES THERE IS. SUBSCRIBE TO LEARN MORE   https://bit.ly/yesthereismore   Copyright © *|CURRENT_YEAR|* *|LIST:COMPANY|*, All rights reserved. *|IFNOT:ARCHIVE_PAGE|* *|LIST:DESCRIPTION|* Our mailing address is: *|HTML:LIST_ADDRESS_HTML|* *|END:IF|* Want to change how you receive these emails? You can update your preferences or unsubscribe from this list. *|IF:REWARDS|* *|HTML:REWARDS|* *|END:IF|*

5 Ways to Make Your Business Investable - Small Plate

Posted by JuJuan Buford, Entrepreneur & Writer @JSBUFORD

 

#1. Attract & Empower Leadership 

If nothing moves unless you move in your business, that is a problem. When monied interests are taking inventory of your business, whether to invest in or purchase, they are looking for assets that can operate independently of you (or them.) 

This advice is not specific to private investors or hard money lenders either. Though this element is weighted differently when seeking capital from a bank or micro-lender, there is a reason why 99% of financial institutions make inquiries regarding your executive leadership. 

If you are the bottleneck concerning every important decision. If you are the sales and marketing team, and the operations system, down to opening the doors in the morning, you’re a self-employed professional with business risks and responsibilities… not a business owner. 

 

#2. What is a Profit & Loss Statement & Why Is It Important 

Just because your business is generating revenues, it doesn’t mean it’s profitable or valuable. 

Imagine being a 100k income earner that spends 120k per year, with 50k in credit card debt, you own absolutely nothing, plus you’re 50 years old (age discrimination is a real thing) with a skill set that is decreasingly in demand like being a greeter at McDonald's. 

You may wear nice attire. Drive a nice vehicle. Spend an hour a day posting your foodie pictures from your favorite restaurant, but you’re on borrowed time. 

If this is your situation, you would be far better off with a job working at Burger King earning 30k per year, paying rent somewhere for $800, plus car insurance, with an extra $500 to spare, finishing up an apprenticeship to be a master electrician. 

Your P&L statement lets a prospective investor know if you’re all smoke and mirrors, or whether there is a real value (future earnings) there. 

It also, lets you know the overall health of your business, and how much margin you have to work with to invest in your business. Breaking even isn’t good enough. The next financial, real estate, emotional, psychological, or physical pandemic is always just around the corner. 

 

#3. Secure Business Financing / Business Credit 

As your sales acquisition and client services operations grow away from you, your business will require you to bring on a virtual assistant, contract worker, or a couple W-2 employees to help you manage the growth of your business. This is when most entrepreneurs realize using personal income and credit to cover expenses is no longer an option. 

If you haven’t established a business profile that allows you to access business loans and credit, your business is not likely to survive an untimely disability, death, departure of a partner or key employee, or a sudden shift in the marketplace forcing you to pivot suddenly. 

Entrepreneurship is like the stock market. It’s going to go up. It’s going to go down. Those who win prepare for both realities. 

 

#4. Understand the Value of your Intellectual Property

In today’s economy, entrepreneurs are marketing and branding companies first. We are service and product providers second. 

Protecting your brand and reputation is more important than ever before because it turns the company's intangible assets into exclusive rights. In other words, your ability to monetize your logo, likeness, and or your digital presence exclusively in the marketplace via merchandising or for the purpose of establishing multiple product lines cannot be underestimated. 

Creating multiple streams of revenue doesn’t necessarily require you to split focus from a successful enterprise. Understanding and protecting your intellectual property rights allow you to increase your revenues where you stand. 

 

#5 Your Network is Your Networth 

This one is a big one. You do not own your social media page/s. If 100% of your client acquisition, servicing, and follow-up is conducted via social media you're going to get fried one day. 

Create a landing page. Or a signup page. And place it in your emails. Make it omnipresent in your social media postings. Collect names, email addresses, phone numbers, birthdates, business anniversaries, wedding anniversaries, industry or occupation, etc, etc., etc., 

If you lose access to your social media account, and you’ve built a database of your prospects, clients, and followers, the situation becomes a mild inconvenience. 

Also, when investors are looking at your business, they are also taking inventory of how much demonstrable market share you’ve achieved. How many repeat customers (very valuable) are you serving. Do you really have an established group of people whom you’ve forged an emotional connection with? Think Elon Musk and Twitter. 

 

#successleavesclues #entrepreneurshipisempowerment #nextopposocial #smallbizarchitect #DecideBeDoHave

_____________________________________________________________________

JuJuan Buford is a CEO, Co-Founder serial entrepreneur, writer, and public speaker. JuJuan started his career in the banking and investment advisory industry, transitioned into business ownership, and is enjoying entrepreneurial success in multiple industries: business coaching, real estate, direct selling, business technical assistance provider, ghostwriting, and publishing. 

Phone 👉 888.549.9689 

Need a Business Coach 👉 https://bit.ly/SmallBizArchitectureSurvey

Schedule an Appointment 👉 https://bit.ly/SmallBizArchitectureMeetUp

Stay Connected 👉 http://bit.ly/signuptolearnmoreatcatchjsbuford

Media Kit 👉 https://bit.ly/JSBBSG_MediaKit

When Motivation Isn't Enough

Posted by JuJuan Buford, Entrepreneur & Writer @JSBUFORD

 

#successleavesclues #entrepreneurshipisempowerment #nextopposocial #smallbizarchitect #DecideBeDoHave

_____________________________________________________________________

JuJuan Buford is a CEO, Co-Founder serial entrepreneur, writer, and public speaker. JuJuan started his career in the banking and investment advisory industry, transitioned into business ownership, and is enjoying entrepreneurial success in multiple industries: business coaching, real estate, direct selling, business technical assistance provider, ghostwriting, and publishing. 

Phone 👉 888.549.9689 

Need a Business Coach 👉 https://bit.ly/SmallBizArchitectureSurvey

Schedule an Appointment 👉 https://bit.ly/SmallBizArchitectureMeetUp

Learn More 👉 https://bit.ly/JSBWorryLessBuildMoreProject10000

Media Kit 👉 https://bit.ly/JSBBSG_MediaKit

 

HOW TO PREPARE FOR AND THRIVE DURING A #RECESSION

Posted by JuJuan Buford, Entrepreneur & Writer @JSBUFORD

 

 

#successleavesclues #entrepreneurshipisempowerment #nextopposocial #smallbizarchitect #DecideBeDoHave

_____________________________________________________________________

JuJuan Buford is a CEO, Co-Founder serial entrepreneur, writer, and public speaker. JuJuan started his career in the banking and investment advisory industry, transitioned into business ownership, and is enjoying entrepreneurial success in multiple industries: business coaching, real estate, direct selling, business technical assistance provider, ghostwriting, and publishing. 

Phone 👉 888.549.9689 

Need a Business Coach 👉 https://bit.ly/SmallBizArchitectureSurvey

Schedule an Appointment 👉 https://bit.ly/SmallBizArchitectureMeetUp

Learn More 👉 https://bit.ly/JSBWorryLessBuildMoreProject10000

Media Kit 👉 https://bit.ly/JSBBSG_MediaKit

4 Simple Steps to Stay Motivated & Focused

Posted by JuJuan Buford, Entrepreneur & Writer @JSBUFORD

Audio - Visual Version of Article

 

Staying motivated is a challenge new and established entrepreneurs grapple with on a regular basis. When you’re just getting started and the exhilaration of launching into a new venture begins to wane, one of the biggest challenges is how to stay focused and energized absent a boss or company imperatives. 

On the flip side, once you’ve achieved success, the monotony of it can begin to grind on your psyche. Yes, monotony. Success over the long term in business often boils down to who is willing to execute some really simple steps repeatedly longer, more enthusiastically, and with greater vigor than the next person. In other words, the successful do what many would regard as really boring stuff over and over again with the same high level of focus and energy.

The wonderful business endeavor that was once a cuddly, shining object, and a symbol of your triumphs is now a grumpy person making constant demands of your time, energies, and attention.  

In either situation, if you’re going to continue to thrive and survive staying inspired and finding methods to stay motivated is of the utmost importance. And those who are able to achieve on a high level understand that staying motivated requires investment and it is a skilled trade. 

Here are a couple of tools to help you find the energy and build when you may have lost that loving feeling. 

 

Get Your Head Right

Entrepreneurs must be able to answer the following three questions, otherwise, you can quickly find yourself middling, falling victim to the tiny object syndrome, and expending your energies on things that don’t edify you. 

1. What are your values and the impact you truly desire to make in the world? 
2. How do you want to serve? 
3. Who do you want to serve and why? 

One of the biggest mistakes people make in general is answering these questions as if they are taking a public litmus test regarding their virtues, rather than simply telling their truth. 

In other words, if watches, clothes, yachts, or other shiny objects give you energy, it is what it is. Perhaps, you desire power, influence, and recognition. It’s all good. Maybe you were deeply impacted by observing the death of a loved one due to cancer or gun violence, and you want to rid the world of these scourges. Great. Whatever the case may be, be honest. 

Entrepreneurship can be a lonely journey at times, and worrying about the opinions of others who won’t be in your life ten years from now, or are unwilling to support your dreams and ambitions is absurd. The rent to occupy space in your head should be extremely expensive. The rent is positivity, love, support, contribution, encouragement, affirmation, and feedback that sharpens and improves. And it needs to be collected every day. 

I read somewhere recently that According to the National Science Foundation, an average person has about 12,000 to 60,000 thoughts per day. Of those, 80% are negative and 95% are repetitive thoughts. This is the enemy that must be overcome.

Also, it’s extremely difficult to expend your life’s energies on a compromise. To be successful as an entrepreneur requires a very high level of energy and focus. Your goals and affirmations should be written down daily, be omnipresent, and affirm the person your business and dreams require you to be. Here’s an exercise to help with the process. 

 

Your Attention is Your Greatest Asset

Attention is like the sun. Whatever you focus it on grows, and what you neglect withers. What are you focussing your attention on daily? How frequently and how long?

Is your attention and thus your energies being focused on people or things that don’t serve your best interests or lack an ROI (return on investment)? What someone said to you. Your fears and anxieties. The people you are angry with or envious of. The job or boss you can’t stand. 

Or are you focused on consuming things that will improve your mindset, character, stamina, stir your creativity, and therefore increase your value. Notice these are all things that cannot be taken from you, and allow you to win indefinitely. 

How much of your screen time is spent on entertainment versus intentionally sharpening the saw? How often do you turn your vehicle into a drive time university? When your mind begins to wander, or when you find yourself drifting to the world of sports, music, gossip, plaintively pocket watching or noting other people’s lifestyles, what are you doing to offset all the empty calories being poured into your psyche… your attention. You have choices. 

 

• Business Podcasts
• Momentum Calls (Find a collective of people who are moving in the direction you desire to move, and doing what you are doing). 
• Training. People don’t rise to their level of desire, but rather their level of preparation. 
• Books of the Month
• Inspirational Movies
• YouTube content from DOrus not gurus. 
• Leadership Show 
• Seminars, Conventions, Workshops

Every moment that you are involved in something that is not growing you, you’re being left behind. You’re either living or dying. There is no in-between. Become obsessed. Yes, obsessed! And extremely intentional about what where your attention is focused or being focused. 

 

Guard the Gates

The people you’re listening to are either pouring life into you, or sapping you of your strength. So is your itinerary, and we all have them. For some of us brushing our teeth and washing our face is part of our morning itinerary. We do it routinely, reflexively, without even thinking about it. We put on our shoes and clothes and even go to the bathroom around the same time every day. And we become agitated and uncomfortable when our routines are disrupted.

The key to keeping negativity out, and allowing space for positive outcomes is found in our routines.

In other words, if you fill your refrigerator to the brim with nothing but fruits, vegetables, nuts, spinach, beet and pomegranate juice, avocados, and 1-gallon jugs of water there will be little to no room for soda pop, pizza boxes, beer cans, and greasy, cheese-laden leftovers. 

Dedicating time to reviewing your goals, running or biking, writing for 30 minutes regardless of whether it results in good content or not, executing your top three tasks of the day, reading 10-20 pages a day, and consuming content and information that sharpens you, having substantive conversations with people who improve you, attending training or networking events with your tribe… you get the point. It’s time-consuming, and that’s the point. 

When your invaluable attention, time, and energies are so occupied with things that serve you, that it makes it extremely difficult for people and things that don’t serve you to occupy your space. That’s how you guard the gates. 

 

Stop Lying to Yourself 

I’ll go to the gym when I feel like it. I’ll start saving and investing when I have extra money. I’ll read the books, attend the training, go to the convention, give up bowling, basketball, PlayStation, or a night out with friends when I’m earning significantly more. 

You’re lying to yourself. You’re living inside your personal bs.dot.com bubble. 

You won’t feel like it until you go to the gym. You won’t have extra money until you set aside at least 10% of everything you earn. You won’t earn enough or significantly more than you do today until you do the things people do who have the success you desire. 

Your routines. How you spend your attention, money, and time has led you to where you are. If you want different you’re going to have to change your routines and invest your attention, money, and time into different things. And it will hurt because it’s supposed to. 

People dramatically underestimate the magnitude of work, of inputs required to enjoy magnificent results. You want extraordinary results then you have to give extra-ordinary effort. There is no hack for this. The good thing is most people have such an allergic reaction to change, duress, and things that are different, therefore the cost of the extra pales in comparison to the cost of not embracing the ugly duckling stage of your journey. 

 

#successleavesclues #entrepreneurshipisempowerment #nextopposocial #smallbizarchitect

_____________________________________________________________________

JuJuan Buford is a CEO, Co-Founder serial entrepreneur, writer, and public speaker. JuJuan started his career in the banking and investment advisory industry, transitioned into business ownership, and is enjoying entrepreneurial success in multiple industries: business coaching, real estate, direct selling, business technical assistance provider, ghostwriting, and publishing. 

Phone 👉 888.549.9689 

Need a Business Coach 👉 https://bit.ly/SmallBizArchitectureSurvey

Schedule an Appointment 👉 https://bit.ly/SmallBizArchitectureMeetUp

Learn More 👉 https://bit.ly/JSBWorryLessBuildMoreProject10000

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Why Establishing An LLC May Not Be Enough to Protect Your Business

Posted by JuJuan Buford @JSBUFORD

 

Disclaimer: This content has been made available for informational and educational purposes only and is not meant to be a substitute for legal, accounting, or other professional advice. If you have specific questions about any legal matter, you should consult with an attorney or other professional services provider.  

 

If you’re in the process of turning your business idea into a legal business entity, forming an LLC is an attractive option. Most business professionals cite that the primary reason to establish a limited liability company (LLC) business entity is for protection from personal liability should anything happen to your business. Or protect assets owned by an LLC (real estate for example) from liens, personal creditors, or some other type of legal harm.

It's a great idea. Remember, the rich don't own things in their personal name. Their businesses own assets, and they enjoy the benefits of those assets while mitigating liability. 

However, there are some misconceptions about the extent to which establishing an LLC can protect you. 

#1. I have an LLC and liability insurance coverage, so I don't need to keep an attorney on retainer. 

Ok. What happens to your insurance coverage and or premiums when you use that policy?

The insurance carrier may drop you at the anniversary date, meaning you're unable to conduct business depending on the industry you're in, or after 6 months raise the rates. 

Ask business owners who have endured a lawsuit and had to file an insurance claim, and they will inform you through gritted teeth how the premium increase was tantamount to the expense of retaining legal services on a monthly basis. 

 

#2. Establishing an LLC is not a tax plan. Most tax and accounting professionals will encourage entrepreneurs to set up their LLCs as disregarded entities. However, that literally means the business entity is disregarded, meaning your business is an extension of you. For the purposes of tax planning purposes, all tax liabilities pass on to you. 

There are two tax filing seasons. There is a tax filing season, and there is a tax planning season. Consulting with financial professionals and legal professionals that actually understand business financing and tax planning is critical. Professionals specialize. I’m assuming you wouldn’t hire a podiatrist (a foot doctor) to operate on your brain. 

Professionals specialize. There is nothing smart or profitable about disregarding this important point. It’s not what you know that kills you in business, but rather what you don’t know. The average business planning tax and accounting professional reports that entrepreneurs miss out on tens of thousands of dollars in tax deductions and relief on a yearly basis because of this error in judgment.

Additionally, if you own multiple LLCs, you’re submitting multiple K-1 filings. Creating a bureaucratic nightmare for new entrepreneurs, greater expenses, and a host of other unintended consequences. Consider setting up a management company to manage your LLCs. 

Another article is forthcoming about the advantages of management companies, however consulting a business planning professionals who specialize in this area of the law.  

 

#3. Establishing an LLC doesn’t automatically mean you or your assets are automatically protected. Gasp! 

To reiterate an earlier point, most LLCs are set up as single-owner, disregarded entities. Meaning legal liabilities also pass straight through to you. The first clue is in the word “limited” liability company. When the LLC is structured this way, it is more or less operating as an extension of you, offering limited protection. 

There are rules that must be followed and suggested guidelines to ensure that the corporate veil isn’t pierced.

• Avoid commingling personal monies and business revenues. Business revenues should be deposited into a business deposit account, and you should pay yourself (deposit monies) into a personal account. If you want to buy groceries do so from your personal account. 
• Many states require annual filing fees, and other bureaucratic steps to ensure compliance.
• It is strongly recommended that you acquire an operating agreement. The operating agreement for an LLC delineates each member's ownership percentage, rights, and responsibilities. While an operating agreement is not legally required, having one can be helpful in settling disputes. In other words, it’s kinda like you don’t have to tie your shoestrings in the morning, but you should else at some point you might trip and slam your face. 
• Learn about and develop the habit of recording corporate/company minutes on a monthly basis. Why corporate minutes are not legally required, doing so once again can be helpful in settling disputes (particularly tax issues). Kinda like shoestrings.
• Your operations are set up in such a way that it can be argued that the LLC was set up simply to hold assets (very relevant to real estate investors) and for no other business purposes. 
• Establish a management company to overcome the aforementioned argument. Consult with both a finance and legal professional that specializes in these issues.    

Think about it like this. Lawsuits are business decisions. The math for the opponent boils down to how much can I expect to extract from you, subtract the costs of an attorney, and other expenses to prevail in court. Think of your LLC as a financial deterrent. If the opponent has a war chest, and the amount they can extract from you is large enough you may be headed for a doomsday scenario. 

 

#4. Setting up an LLC in different states isn’t an airtight approach either, especially if it’s for real estate purposes. If you're holding real estate, you must abide by the laws in that state, regardless of where the LLC is set up. 

#5. Another disadvantage is that LLCs don’t have shares like corporations do. This might make transferring ownership more difficult. For example, if an LLC has multiple members, every member must agree on any ownership changes. 

If you need help with deciding whether an LLC or an alternative business entity is the right structure for your business schedule an appointment at 👉🏾 https://bit.ly/SmallBizArchitectureMeetUp. 

 

#successleavesclues #entrepreneurshipisempowerment #nextopposocial #smallbizarchitect

_____________________________________________________________________

JuJuan Buford is a CEO, Co-Founder serial entrepreneur, writer, and public speaker. JuJuan started his career in the banking and investment advisory industry, transitioned into business ownership, and is enjoying entrepreneurial success in multiple industries: business coaching, real estate, direct selling, business technical assistance provider, ghostwriting, and publishing. 

Phone 👉 888.549.9689 

Need a Business Coach 👉 https://bit.ly/SmallBizArchitectureSurvey

Schedule an Appointment 👉 https://bit.ly/SmallBizArchitectureMeetUp

Learn More 👉 https://bit.ly/JSBWorryLessBuildMoreProject10000

Media Kit 👉 https://bit.ly/JSBBSG_MediaKit

If 70% Fail At Entrepreneurship, What Are The Other 30% Doing?

Posted by JuJuan Buford @JSBUFORD

 

THIS IS AN EXCERPT FROM A BOOK I'M CURRENTLY WORKING ON TO HELP ENTREPRENEURS MAKE THE SHIFT FROM A TEAM OF ME TO A TEAM OF WE. 

 

“Successful people do what unsuccessful people are not willing to do. Don't wish it were easier; wish you were better.” — Jim Rohn.

• 70% of entrepreneurs fail. 
• Roughly 5% of the American population makes 6 figures
• 6% of all entrepreneurs achieve 6 figure business success, only 2% ever achieve 7 figure success, and more than 50% of all business owners never exceed $25,000 each year.

In other words, achieving the financial outcomes that many entrepreneurs take aim at is an extraordinary achievement... emphasis on the "extra". Because the truth of the matter is it will require more than the super-majority of people are giving at their jobs. It will require more of you behaviorally, psychologically, mentally, and personally, especially at the beginning. And require that you become more, different than you are at present. It's going to require extra.

This article wasn’t curated to dissuade future entrepreneurs or defecate in the cornflakes of dreamers. Rather, it was written to prepare you for the journey ahead, and part of being prepared is understanding that entrepreneurship is difficult. Your primary enemies - boredom, impatience, frustration, failure, and a culture that thirsts for immediate gratification - are relentless and ever-present. 

And that is why being able to answer the following questions are is so important. 

• Why does your business exist, beyond simply making a profit? 
• What do you want your impact or legacy to be in the world? 
• Who do you want to serve? Describe them from head to toe. 
• What is your WHY? 

Being able to answer these questions is important because it's hard to expend your life's energies on a compromise, and success is an inside job. There is not enough motivation in the world (books, podcasts, videos, seminars, etc.) to feed you and push you to achieve your best life. At some point, you have to identify the values, beliefs, and ideas that give you energy. You need to have a well to pull from that will propel you forward before the recognition comes; create accountability when people are not looking; and push you to be excellent before the rewards become apparent. 

Answering these questions will also help you frame your value proposition to the rest of the world. They will help you determine how you show up at an initial meet-up, at networking events, when you give an elevator pitch, and how you communicate your value to the world via social media and elsewhere. They are essential to helping you attract your tribe: the business partners you will eventually work with; your staff or employees; your ideal clients; and those who are willing to support and advocate for you when you're not in the room. 

And just as important, answering these questions will help you stay focused on your focus. I've read that a light bulb and a laser use and produce the same amount of energy. However, while the light bulb’s energy illuminates and dissipates into a space, a laser's energy is focused allowing it to cut through, chisel, and curate the environment around it. 

When you're flying from project to project, and you lack focus you'll find that while the calendar moves, you haven't progressed any further toward your goals. Additionally, you are unable to resonate with your tribe, because people don’t know who or what you are from day to day, and therefore you fail repeatedly to gain the traction (trust) and momentum (social evidence) required to push your business endeavors forward. 

There's a hidden inertia that exists in business, akin to pushing a 5000 lb vehicle. In the beginning, it's tough, but once the wheels get rolling you and those observing you may marvel about how easily you're able to achieve progress. You begin building skill stacks, belief, the confidence of those around you, and wisdom.  The inertia allows you to accomplish more, attract more, and invest more in your endeavors as opposed to being bogged down with the psychological strain of surviving day to day. 

 

SHARE YOUR FEEDBACK IN THE COMMENTS.   

 

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Share Your Story.

A disturbing news report was released recently regarding the (double-digit) decline in the wealth of African American communities over the last decade, juxtaposed against the increase in wealth of U.S. households. 

What does it mean for cities like Detroit? How can the entrepreneurial community offset this decline? Special guests Jeffrey Edwards and Godwin Inhentuge join JuJuan Buford at NextOppSocial to discuss! Learn more about NextOppSocial at www.nextoppsocial.com Join the Aftershow Discussion at www.facebook.com/groups/nextoppsocial.

Join us every week at NextOppSocial A place where you can listen, learn, and consume actionable content to launch, build, grow, and scale your businesses. We explore new topics each week and interview entrepreneurs throughout the Detroit Metropolitan Area, sharing insights regarding various subjects, important business strategies, success mindsets, and tools you can use to level up in your business endeavors.

Check out our most recent interviews  👉 👉 NextOppSocial - YouTube



At the NextOppSocial - The Aftershow we strive to provide a respectful and stimulating environment for entrepreneurs to engage in lively discussions, explore business topics, share and beta-test ideas, create substantive relationships, and sharpen the saw. We invite you to discuss, comment, ask questions, seek advice, or offer suggestions to the NextOppSocial community. Participate & Enjoy!!!

 

_____________________________________________________________________

JuJuan Buford is a CEO, Co-Founder serial entrepreneur, writer, and public speaker. JuJuan started his career in the banking and investment advisory industry, transitioned into business ownership, and is enjoying entrepreneurial success in multiple industries: business coaching, real estate, direct selling, business technical assistance provider, ghostwriting, and publishing. 

Phone 👉 888.549.9689 

Need a Business Coach 👉 https://bit.ly/SmallBizArchitectureSurvey

Schedule an Appointment 👉 https://bit.ly/SmallBizArchitectureMeetUp

Learn More 👉 https://bit.ly/JSBWorryLessBuildMoreProject10000

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How to Identify Your Competitive Advantage

Posted by JuJuan Buford @JSBUFORD

 

WHAT ARE THE 3 UNIQUE CHARACTERISTICS THAT SET YOU APART? 

In other words, what is your signature worth? What are your guarantees? 

Jimmy John’s became notorious for their “freaky fast” promotion, claiming the establishment could put a sandwich in your hand in less than four minutes. Dominoes guarantees if you are not completely satisfied with your Domino's Pizza experience, your monies will be refunded. 

In my over two decades of being a very frequent flyer at Starbucks, I've grown to anticipate after frequenting a specific location a handful of times, that the baristas will either know my name and, or be able to anticipate my order. 

The capital acquisition space in the Detroit Metropolitan area is inundated with businesses, organizations, professionals, and various other entities promising to provide funding for small business owners. If you do a deep dive into their resumes, the extent of their wisdom and know-how can be attributed to having read one book and a handful of hours of YouTube. Or have simply hopped from one organization to another padding their resumes with titles, but haven't been able to successfully build solvent business enterprises themselves. 

QT Business Solutions is led by Tina Williams, who is highly experienced and a proven commodity after over a decade of finding and securing monies for aspiring and established business owners alike. In other words, she has receipts. However, the success of her enterprise and her effectiveness weren't enough to distinguish her from the pack.

With the introduction of a guarantee, Tina’s continual maturation as a business leader, and some consistent promotion her business has become a prominent fixture in the business planning and capital acquisition space, and her brand is quickly becoming a household name in the entrepreneurial ecosystem. QT Business Solutions guarantees that as long a business owner meets a simple criteria uniformly applied by most financial institutions, a client of hers is guaranteed to obtain funding, else their monies are refunded. 

Your guarantees can be robust and boisterous. I remember when guaranteed delivery times were didn't exist, and for an establishment to do so was a big deal. Or your guarantees can be something simple, and nuanced in accordance with the tastes and sensibilities of your clients. It’s the consistency of the experience that matters. It’s your patrons feeling like they’re receiving more than what they’re paying and the predictability of it that creates stickiness.  This is what builds your brand.  

Choose 1-3 phrases to describe your guarantees. For example:

• We are an organization of entrepreneurs, serving entrepreneurs 
• We guarantee funding or a 100% refund 
• We provide uplifting service and exceed our clients' expectations 
• We invest in our business partners  
• We get what you do, and guarantee a 50% increase in your online traffic 
• Your priorities are our priorities, and we guarantee 100% satisfaction or we’ll refund your money.  
• We guarantee delivery in 2 days or a 50% refund

Is there more! But of course! Subscribe to learn additional resources, tools, workshops, and opportunities to promote your business. Learn more 👉🏾 https://bit.ly/JSBWorryLessBuildMoreProject10000

 

#entrepreneurshipisempowerment #smallbizarchitect #smallbizarchitecture #nextoppsocial

_____________________________________________________________________

JuJuan Buford is a CEO, Co Founder serial entrepreneur, writer, and public speaker. JuJuan started his career in the banking and investment advisory industry, and transitioned into business ownership and is enjoying entrepreneurial success in multiple industries: business coaching, real estate wholesaling, direct selling, business technical assistance provider, ghostwriting, and publishing. 

Phone 👉 888.549.9689 

Need a Business Coach 👉 https://bit.ly/SmallBizArchitectureSurvey

Schedule an Appointment 👉 https://bit.ly/SmallBizArchitectureMeetUp

Learn More 👉 https://bit.ly/JSBWorryLessBuildMoreProject10000

Media Kit 👉 https://bit.ly/JSBBSG_MediaKit

 

 

Don't Be the Bottleneck in Your Business

Posted by JuJuan Buford @JSBUFORD

 

A common challenge shared by most entrepreneurs who are attempting to scale from a team of me to a team of we is an unwillingness to disconnect themselves from every process in their businesses. If this is you, it means you're feeling tired, frustrated, stressed, and feeling like there is never enough time. It's like a feeling of dread coloring everything you do, all the time, in the face of success and failures alike.  You are literally working yourself to the brink of what will be an inevitable breakdown. 

When an athlete injures a leg, ankle, knee, an eye socket, or tears their achilles tendon there is typically swelling followed by the immediate inability to execute. Because the injury is apparent, the natural reaction is to seek immediate medical attention, followed by days, weeks, and months of rehab. Afterward, great care is taken to make sure the athlete doesn't aggravate or resume activities that may cause even the smallest tear or setback during their recovery. 

Well, how do you know when you've aggravated a mental injury? How do you know if you're suffering from an injury to the mind due to overexertion, or some type of trauma? The mind is the one body part that everyone has an opinion about but lack the ability to literally eyeball a brain injury (which would require you to crack open the skull) or damage done to the mind at the onset of an issue. A person can be operating normally without symptoms associated with an injury being apparent. 

Implementing an operating system. Learning how to attract and retain the right talent around you. Relying on processes as opposed to you being the system is how you build a thriving, healthy business. Taking these steps is also necessary to maintain a thriving, healthy you. 

What does daily medication or rehab look like? I don't know. I haven't earned a doctoral degree in medicine, and therefore if you feel like your mentally broken or exhausted beyond recovery I encourage you to seek professional, medical attention. However, I believe curating a life that includes the following activities may help:

1. Quiet moments to review your personal affirmations,
2. Take walks around the park,
3. Plant things,
4. Celebrate your wins and take inventory of your victories,
5. Reflect on your values, focus, and goals, and find alignment,
6. Set aside thirty minutes with an inspiring book or vlog daily, 
7. Dedicated a morning or evening with family or yourself to simply laugh, live, and enjoy life.
8. Performing breathing exercises can make all the difference in the world. 

If you're like most entrepreneurs you'll need to be intentional about scheduling time for these activities. What time of the day, how much time, and how often will you set aside time for your personal recuperation regimen? Choose three or create three of your own. Just do it. 

 

#entrepreneurshipisempowerment #smallbizarchitect #smallbizarchitecture #nextoppsocial

_____________________________________________________________________

JuJuan Buford is a CEO, Co Founder serial entrepreneur, writer, and public speaker. JuJuan started his career in the banking and investment advisory industry, and transitioned into business ownership and is enjoying entrepreneurial success in multiple industries: business coaching, real estate wholesaling, direct selling, business technical assistance provider, ghostwriting, and publishing. 

Phone 👉 888.549.9689 

Need a Business Coach 👉 https://bit.ly/SmallBizArchitectureSurvey

Schedule an Appointment 👉 https://bit.ly/SmallBizArchitectureMeetUp

Website 👉 https://thebufordco.com 

Let’s Connect 👉 https://bit.ly/JuJuanBufordOfficial

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Subscribe 👉 Continue to Learn & Grow

How Do You Get Better Clients? - Level Up Your Audience

Posted by JuJuan Buford @JSBUFORD

 

How do you get better clients and effectively reach out to individuals who have better connections, are more successful, or occupy a higher socio-economic stratum?

 

In other words, do business with people who are more successful than you, and they know it.

 

 

 

#entrepreneurshipisempowerment #smallbizarchitect #smallbizarchitecture #nextoppsocial

_____________________________________________________________________

JuJuan Buford is a CEO, Co Founder serial entrepreneur, writer, and public speaker. JuJuan started his career in the banking and investment advisory industry, and transitioned into business ownership and is enjoying entrepreneurial success in multiple industries: business coaching, real estate wholesaling, direct selling, business technical assistance provider, ghost writing, and publishing. 

Phone 👉 888.549.9689 

Need a Business Coach 👉 https://bit.ly/SmallBizArchitectureSurvey

Schedule an Appointment 👉 https://bit.ly/SmallBizArchitectureMeetUp

Website 👉 https://thebufordco.com 

Let’s Connect 👉 https://bit.ly/JuJuanBufordOfficial

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Subscribe 👉 Continue to Learn & Grow

THE ALCHEMY IS IN THE SELF CONCEPT & BUILDING TALLER PEOPLE

Posted by JuJuan Buford @JSBUFORD

Audio Version For Your Listening Pleasure

 

 

As a B2B entrepreneur, I understand that the super-majority of people who seek my assistance are looking for answers to how to achieve a specific goal or set of objectives. Or they’re seeking technical advice or assistance with the drafting of a document, implementing a specific sales strategy, or incorporating an onboarding process to improve their client services or employee retention. 

The expectations are akin to walking into an investment advisor's office with the expectation that he or she will curate an investment strategy or recommend a product or series of stock picks that will result in prosperity and exemplary financial returns. And in both cases, the end game isn’t unrealistic or whimsical, it’s just the intended outcomes are often less a reflection of a business consultant’s or advisor’s business or financial acumen, but rather their ability to help people become the person that can achieve their goals. 

The alchemy is predicated upon a base understanding that when you meet people, they are achieving to the extent of their ability and knowledge base already because their thinking and habits are key performance indicators of their current circumstances. Readers read and thus become more knowledgeable. Speakers speak and thus become more ready. Thinkers think resulting in better decisions. Doers do and become more able. 

The key is to change the person's self-concept (the story one tells themselves, about themselves) of who and what they are, impacting how they think and what they think about, leading to the habits that result in favorable rewards. If a person is committed to being someone who crushes candy bars multiple times of day, it doesn’t matter how spectacular, creative, or thoughtful the diet plan you suggest to them is. It won’t be effective. 

Likewise, if a person cannot see and envision themselves gratefully and enthusiastically executing the business plan, or implementing the savings and winning investment habits it doesn’t matter how sterling the reputation or brilliant the plan of action recommended. People’s self-concept and habits behave much like water, in that they will always find their natural level. 

We are human beings, not human doings. We be who we believe ourselves to be. That is the input. When we achieve, that is the output of the being. 

 

#entrepreneurshipisempowerment #smallbizarchitect #smallbizarchitecture #nextoppsocial

_____________________________________________________________________

JuJuan Buford is a CEO, Co Founder serial entrepreneur, writer, and public speaker. JuJuan started his career in the banking and investment advisory industry, and transitioned into business ownership and is enjoying entrepreneurial success in multiple industries: business coaching, real estate wholesaling, direct selling, business technical assistance provider, ghost writing, and publishing. 

Phone 👉 888.549.9689 

Need a Business Coach 👉 https://bit.ly/SmallBizArchitectureSurvey

Schedule an Appointment 👉 https://bit.ly/SmallBizArchitectureMeetUp

Website 👉 https://thebufordco.com 

Let’s Connect 👉 https://bit.ly/JuJuanBufordOfficial

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Subscribe 👉 Continue to Learn & Grow

 

Growing From a Team of Me to a Team of We - Part 2

Posted by JuJuan Buford @JSBUFORD

 

Let's pretend that a very good friend of yours asked you to drop off a very important package somewhere, and you agreed to do so. Soon after you receive a phone call indicating the package needs to be dropped off in Oklahoma City on a specified date, absent any additional information. Two questions that should immediate come to mind is: 

#1. How big and heavy is the package? What is it? 

#2. Where specifically in Oklahoma City? 

You need this information, so you can decide how much you may need to invest in transporting the package. Additionally, you need the exact location so you can plan the most time efficient, cost effective route. You will need to account for construction, weather, rush hour traffic, fees, the expense of a vehicle, the expense of staff or a driver if you need to delegate the commitment, etc., etc., etc., If you just jump into your vehicle without accounting for these potential challenges, the journey could turn out to be a nightmare. 

The same applies to your entrepreneurial journey. It's not what you know in business that can kill you, it's what you don't know. Here are a couple questions and exercises I often pose and share with entrepreneurs to get them to think more critically about their businesses. Remember, the goal is to expend as little capital and time as possible, and earn as much as possible.  

 

#1. WHO IS YOUR BUYER AVATAR? YOUR IDEAL CLIENT, OR BUYER PERSONA? 

Identifying who your ideal client is doesn’t mean you dismiss potential clients, but you need to know who is already seeking or predisposed to patronize you, don’t need to be convinced regarding your value proposition, and can easily afford your services. Your branding, marketing and prospecting techniques, and how you execute your client services should all be geared to attract and retain your ideal client. 

Besides, not being willing to do the work. Not taking the time to think critically about this question inarguably kills a small business faster than anything else. Because it kills your desire. You're expending energy and feels like things aren't getting easier because you're getting traction with your most profitable clients and you're not serving people who you really, really want to serve. 

 

#2. WHAT'S WORKING? 

There is a famous axiom out there about money not being everything. Well, it is, if you don't have it. Capital is the lifeblood of your business. The only way you're going to create predictable income is to create predictable outcomes. In order to curate processes that work, you must identify the habits that work.

This lays the groundwork for you, the self-employed entrepreneur, to grow from a team of ME to a team of WE. In other words, transition from being a practitioner or creative that is owned by their business, to becoming a business owner, building an asset (organism that breathes, produces, and re-produces) that generates revenues independently of you having to do everything. 

Be meticulous about writing down your habits and your process. These notations will eventually serve as the track that your organization runs on. 

 

#3. WHAT ARE MY 3 UNIQUE CHARACTERISTICS THAT SET ME OR US APART? 

What is your signature worth? What are your guarantees? 

Jimmy John’s became notorious for their “freaky fast” promotion, claiming the establishment could put a sandwich in your hand in less than four minutes. Dominoes guarantees if you are not completely satisfied with your Domino's Pizza experience, your monies will be refunded.  

Your guarantees can, but don't have to be robust and boisterous. I remember when guaranteed delivery times were not existent, and for an establishment to do so was a big deal. Or your guarantees can be something simple, and nuanced in accordance with the tastes and sensibilities of your clients. It’s the consistency of the experience that matters. It’s your patrons feeling like they’re receiving more than what they’re paying for that creates the stickiness. This is what builds your brand.  

 

#4. CREATE A LIST 

The list is your starting block. Identify those individuals or business entities that will be most receptive to your value proposition. And identify individuals and relationships that could lead you to your ideal clients. At some point you are going to need to establish a database/CRM of all your prospects and clients, so you can track your progress and quickly identify where your process may be failing you, or serving your interests. 

Creating a list provides a track for you and your sales team to run on. How big should the list be? Big list. Big checks. Small list. Small checks. No list. No checks. I encourage you to start a Project 100: build a list of prospects until you reach 100 names on your list. 

 

 

#entrepreneurshipisempowerment #smallbizarchitect #smallbizarchitecture #nextoppsocial

_____________________________________________________________________

JuJuan Buford is a CEO, Co Founder serial entrepreneur, writer, and public speaker. JuJuan started his career in the banking and investment advisory industry, and transitioned into business ownership and is enjoying entrepreneurial success in multiple industries: business coaching, real estate wholesaling, direct selling, business technical assistance provider, ghost writing, and publishing. 

Phone 👉 888.549.9689 

Need a Business Coach 👉 https://bit.ly/SmallBizArchitectureSurvey

Schedule an Appointment 👉 https://bit.ly/SmallBizArchitectureMeetUp

Website 👉 https://thebufordco.com 

Let’s Connect 👉 https://bit.ly/JuJuanBufordOfficial

Learn More 👉 https://bit.ly/JSBBSG_MediaKit

Subscribe 👉 Continue to Learn & Grow

How Do You Know If You're Winning or Losing? - Creating Predictable Income as An Entrepreneur

Posted by JuJuan Buford @JSBUFORD

 

Attention is like the sun. What you focus it on tends to grow and develop, becoming part of the ecosystem. And depending on the extent to which it's cultivated, it may even come to dominate the ecosystem. 

I think the great part about what I do is that there's a scoreboard. At the end of every week, you know how you did. You know how well you prepared. You know whether you executed your game plan. There's a tangible score. - Tom Brady 

Ok. Great. But how do you take inventory of your activities to determine what's working or not? How do you determine the score? And why is it so absolutely important that you do so? 

If you can't measure it, you can't evaluate it. If you can't evaluate it, you can't identify whether you're on pace to achieve a desired outcome or not. Nor can you train to it, preventing you from being able to duplicate it. Which means you will be perpetually re-creating a job, rather than an organism that grows, regenerates, becoming stronger and more able with each passing day.

In other words, you'll never really scale beyond yourself. Imagine being the hamster in the wheel every day for the rest of your life. And that's no fun. 

Scoreboards create focus and accountability as well. Accountability engenders responsibility, leading to a sense of ownership, followed by investment. Do you want an organization of individuals who clock into work solely for a check? Or do you want to build an organization of teammates that are invested in its continual development and growth? Begin and build with the end in mind.

 

WHAT RGAs (Revenue Generating Activities) SHOULD YOUR SCOREBOARD TRACK? 

At the end of the day the scoreboard is determined by specific metrics that determine the integrity and predictability of your outcomes. Your outcomes are lagging indicators of these metrics or your revenue generating activities. 

Ever end the day feeling accomplished after expending a lot of energy and accomplishing a grocery list of things, only to experience feelings of resignation and dissatisfaction later. There is a a feeling of emptiness and frustration that comes with knowing that despite your best efforts, you’re not any closer to your goals then when you opened your eyes in the morning. 

This is why RGAs are important. These are the activities that determine the profitability of your business. Absent profits you’re unable to pay the bills or the talent. Meaning you cannot sustain much less scale your impact. 

An example of what I'm getting at here is the record of team stats you can find following NBA games. Typically, there is a stat line where you can account for rebounds, assists, steals, blocks, turnovers, shooting percentage, etc., etc., These stats tell the story of the game, and any real student of the game can look at these metrics alone and determine with great accuracy what the outcome was without looking at the scoreboard. 

What are the most important stats or RGAs that determine the health of your business? Every organization is different, however here are a couple of examples: 

• Weekly sales calls 
• Weekly social media impressions 
• Weekly appointments or sales presentations given 
• Weekly referrals acquired 
• Weekly clients onboarded 
• Weekly happy clients reported  
• Weekly customer complaints 
• Weekly client issues resolved 
• Weekly interviews 
• Monthly retention rates 
• Weekly balance sheet (P&L statement) 
• Weekly revenues 
• Weekly accounts receivable 
• Weekly accounts payable 

The last four items on the list of suggestions are a function of all the previous RGAs. Profits are a result of the aforementioned RGAs. Remember, profits are a lagging indicators of whether your business is growing or receding. No RGAs, no profits. 

Remember, to choose 3 -5 items that will make the biggest difference in the development of your enterprise. If everything is important, nothing is. 

 

#entrepreneurshipisempowerment #smallbizarchitect #smallbizarchitecture #nextoppsocial

_____________________________________________________________________

JuJuan Buford is a CEO, Co Founder serial entrepreneur, writer, and public speaker. JuJuan started his career in the banking and investment advisory industry, and transitioned into business ownership and is enjoying entrepreneurial success in multiple industries: business coaching, real estate wholesaling, direct selling, business technical assistance provider, ghost writing, and publishing. 

Phone 👉 888.549.9689 

Need a Business Coach 👉 https://bit.ly/SmallBizArchitectureSurvey

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Important Steps Entrepreneurs Can Take to Super Charge Their Onboarding Process

Posted by JuJuan Buford @JSBUFORD

 

There is a race taking place everyday to find, onboard, and retain talented people with a work ethic. Just like in sports, the business owners with the most talented people who've bought in win.

 

 

 

 

How a Project 100 and supercharge your process  

 

 

 

#entrepreneurshipisempowerment #smallbizarchitect #smallbizarchitecture #nextoppsocial

_____________________________________________________________________

JuJuan Buford is a CEO, Co Founder serial entrepreneur, writer, and public speaker. JuJuan started his career in the banking and investment advisory industry, and transitioned into business ownership and is enjoying entrepreneurial success in multiple industries: business coaching, real estate wholesaling, direct selling, business technical assistance provider, ghost writing, and publishing. 

Phone 👉 888.549.9689 

Website 👉 https://thebufordco.com 

YouTube 👉 https://bit.ly/NextOppSocOnYoutube

Let’s Connect 👉 https://bit.ly/JuJuanBufordOfficial

Learn More 👉 https://bit.ly/JSBBSG_MediaKit

Subscribe 👉 Continue to Learn & Grow

Why is a Big Vision & Big Goals Essential to Building a High Performance Team

Posted by JuJuan Buford @JSBUFORD

 

JSB Business Solutions Group · Why is a Big Vision & Big Goals Essential to Building a High Performance Team

 

How to Grow from 0 Prospects to Over 3000 Referrals: Part 2 - CATCHJSBUFORD 052

Posted by JuJuan Buford @JSBUFORD

 

 

 

#entrepreneurshipisempowerment #smallbizarchitect #smallbizarchitecture #nextoppsocial

_____________________________________________________________________

JuJuan Buford is a CEO, Co Founder serial entrepreneur, writer, and public speaker. JuJuan started his career in the banking and investment advisory industry, and transitioned into business ownership and is enjoying entrepreneurial success in multiple industries: business coaching, real estate wholesaling, direct selling, business technical assistance provider, ghost writing, and publishing. 

Phone 👉 888.549.9689 

Website 👉 https://thebufordco.com 

YouTube 👉 https://bit.ly/NextOppSocOnYoutube

Let’s Connect 👉 https://bit.ly/JuJuanBufordOfficial

Learn More 👉 https://bit.ly/JSBBSG_MediaKit

Subscribe 👉 Continue to Learn & Grow

 

 

 

JSB Business Solutions Group Newsletter | December 10, 2021

Posted by JuJuan Buford @JSBUFORD

 

 

First the disclaimer 👇

The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Take a moment to listen to this informative interview given by Ms. Tina Williams, Founder & CEO of QT Business Solutions about how to establish business credit. 
 
https://www.catchjsbuford.com/2021/03/debunking-myths-around-acquiring-business-credit-with-qt-business-solutions-join-us-on-nextoppsocial-w-tina-williams-capi.html

 
Here is a cheat sheet or abbreviated checklist I provide frequently to entrepreneurs to make the process easier to follow. As always, eat the fruit and spit out the seed. 
 

• Establish Your LLC, S-Corp, Etc. (no DBAs)
• Make sure you have a business line (phone#) aside from your cell phone. G-Suite offers free business lines for example. 
• Have a website. Or it can be simple as a landing page. It doesn't need to be a big deal. Acquire a domain name and professional email address. 
• Have a professional or business address. Avoid using your home address if you can. Not a PO BOX. 
• Open a free Dun & Bradstreet Account 
• Open a Business DDA checking account. 
• Start a trade line (Staples, a Gas Card, Walmart, Office Depot, etc.,). Refer to the business credit interview for more details. 
• Acquire a business secured credit card.
• Establish 9 months of good business credit. The goal is a Paydex score of 80
• Approach your banker (after establishing 9 months of good business credit history), and ask about different credit lines and loan options.
• A couple things that add credibility and communicates that you have a solid foundation when dealing with banks, micro-lenders, and private investors.

1. Have an Operating Agreement
2. Keep Corporate Minutes
3. Study & Your P&L (Profit & Loss) Statement like the back of your hand. 

 
And of course, establish, operate, and build a business with positive cash flow. For a deeper dive regarding additional information entrepreneurs should be aware of (especially when launching a new business) visit 👇 👇

https://www.catchjsbuford.com/2021/03/commonly-asked-questions-by-entrepreneurs-seeking-funding-and-or-business-growth.html

 

FOR ADDITIONAL TIPS, SUGGESTIONS, IDEAS, AND STRATEGIES TO BUILD, GROW, & SCALE YOUR BUSINESS 👉 https://bit.ly/JSB_BusinessSolutionsGroupNewsletterDec102021

___________________________________________________________________________

JuJuan Buford is a CEO, Co Founder serial entrepreneur, writer, and public speaker. JuJuan started his career in the banking and investment advisory industry, and transitioned into business ownership and is enjoying entrepreneurial success in multiple industries: business coaching, real estate wholesaling, direct selling, business technical assistance provider, ghost writing, and publishing. 

Phone 👉 888.549.9689 

Website 👉 https://thebufordco.com 

YouTube 👉 https://bit.ly/NextOppSocOnYoutube

Let’s Connect 👉 https://bit.ly/JuJuanBufordOfficial

Learn More 👉 https://bit.ly/JSBBSG_MediaKit

Subscribe 👉 Continue to Learn & Grow

Growing From a Team of Me to a Team of We

Posted by JuJuan Buford @JSBUFORD

-- ►Prefer video? You can find a nuanced version of this article and more. And if you this content serves you subscribe, like, share, and leaves comments. 👉  How to Avoid Hiring & Partnering with the Wrong People 

 

The complaint is tried and true.The job market. The candidates. Nobody wants to work, and everybody sucks. And some of the aforementioned may be true, however, none of the complaints are going to solve your problems. So, what will? 

Clarity of purpose, accountability systems, and priority management.

I spoke with a handful of business owners in quick succession this past week - home health care, massage business owner, and a network marketing entrepreneur - who all shared with me that they ultimately don’t have enough time, and there are not enough good people out there, and this is preventing them from scaling their businesses And after listening, I asked each one of them the following questions…..

#1. Why does your business exist beyond generating a profit, and who do you want to serve? 

All of them had great origination stories, which was fantastic because most people are so busy trying to get the bag, they never stop to ask the question, why should anyone have any type of long term emotional or financial attachment to my business? In other words, how are you changing or enhancing your patrons’ lives? 

Why is this question important? People who are passionate about or believe in the benefits of life insurance, make the best insurance agents. People who love and appreciate the Mercedes Benz brand make the best Mercedes sales professionals. People who have had their lives enhanced by professional development or have had their lives changed by seeking psychological therapy tend to be the strongest marketers and advocates of these services. 

If your staff isn’t aware or never had the opportunity to buy into your compelling vision for your business, why are they showing up beyond a direct deposit? Mercenaries are not going to show up early, or stay late to fulfill the imperatives of your business. On the other hand, history of chock full of examples of soldiers, athletes, and professionals who perform extraordinary feats for a cause or a mission that inspires passion. 

When I ask most business owners who do you want to serve, most respond with some general response amounting to any and everyone who likes my stuff, and can afford to pay for it. But that doesn’t really answer the question. Almost every successful business owner I know was trying to solve a problem or serve a need - theirs or someone else’s - when they launched. There was a specific person, persons, or character that they were focused on serving. There was a problem that needed solving. 

For example, I just interviewed an aspiring cannabis micro-business owner who was inspired to begin her entrepreneurial journey, because of her mother and people like her mother who had been suffering from stomach nausea and acute joint pain. She introduced edibles to her mother in desperation because the narcotics weren’t working. And a month later, the nausea was practically gone, and the joint pain became much more bearable. Before then her mother and many of the other elders she knew were pretty much sequestered to their living and bed rooms because of the severity of their ailments. The story of her mother’s recovery spread like wildfire, and now people are lining up at her door seeking relief. 

Solving the chronic pains of the elderly and liberating them from the limitations imposed upon them because of illnesses is the reason why her business exists. And her target market or ideal client is crystal clear. As she prepares to launch and scale her business, how beneficial (cost effective and efficient) will it be for her staff -specifically the marketing and sales professionals - to be able to identify and focus the lion's share of their marketing, advertising, and engagement upon an audience that is looking for her solutions; don’t need need to be convinced or sold; can afford her products; and are willing to patronize her without delay? 

Can you imagine how much more efficient, empathetic, inviting, and aware her staff will be? This is huge. Your partners, staff, and vendors need to know what your expectations are, and be able to immediately zoom in on your target market in order for you to maximize your investment in them. Everyone needs to understand the correlations between the health of your business, how happy your clients are, and their paychecks. 

 

#2. What are your Key Performance Indicators (KPIs)? 

I’d estimate that 90% of new entrepreneurs and the super-majority of business owners who are struggling with scaling are not aware of their KPIs. If you’re not aware of them you can’t teach them, duplicate them, nor hold people accountable to them. 

Knowing your KPIs is where the predictability is found in your business. It is where your time freedom is found. It allows you to focus on being a CEO (creating environments of opportunity), allowing you the space to lead, grow, and work on your business as opposed to in it 24/7. You can’t build a high performing sports team without accountability. You can’t raise a child without accountability. You can’t accomplish anything worthwhile involving people absent accountability. 

When you’re starting out initially you’re developing habits, insights, and an understanding of what specific tasks, procedures, and metrics are required in order for you to secure, serve, and attract new clients. It becomes your modus operandi or part of your DNA, and you begin to operate on autopilot. Everything becomes common sense. But it’s not. 

At some point - ideally from the start - you must document every step that is involved in the attraction, onboarding, serving, and duplication of your ideal buyer persona. You have to give your new employees a track to run on, and your cataloging of these steps must be meticulous. Afterwards, identify the steps or metrics that are the most predictive of successful outcomes. Once you’ve identified the key performance indicators things become very simple. If you’re not getting the results you desire, your team isn’t doing something right, or they’re not doing something enough. 

The more attention you pay to this element of your business, the more efficiently you’ll be able to identify whether people get what your expectations are. Do they understand the purpose? Have they bought in? And who is willing to execute and be accountable? Remember speed kills. It can be a tool, creating synergy, coupled with swift, profitable decision making. Or it can torpedo your business, resulting in finger pointing, people checking out, giving half a#$%! efforts, and repelling any high performing employees you have left. 

Your biggest expense is onboarding a new employee, and conversely firing one. If you aren’t intentional about this process, you will always be complaining about not having enough time. Audit your time and tasks. What are you really, really good at? What requires only your creativity, deductive reasoning, and experience. Document and delegate to people who have the ability to do the rest reasonably well until you can recruit the people who can do these things exceptionally well. 

#3. Which leads to my last question? How much time are you spending interviewing and recruiting new talent? 

Starbucks is always interviewing. I cannot recall not observing a manager interviewing a prospective employee at any one location I’ve visited with some frequency. One location may need a staff of five to eight individuals, but they are constantly interviewing. Why is this necessary? People quit. People get fired. People get married, divorced, or suddenly need to relocate. 

Also, know your business partners may or will fall out of love with you, and or the business.

Always be interviewing. We are all in a constant competition for the most hardworking, ethical, talented people available. In sports the most successful teams tend to field the most talented players who’ve bought into a system. Business is not much different. 

Consistently interviewing new talent sends a message to current staff members that someone who will gladly accept their hours or salary is always walking through the door. If you slack off. You don’t want to learn or develop new skills. There’s a pool of individuals that are one phone call away, or literally sitting in the office.  

In closing, remember that you need to clearly define the why, and what your staff is expected to buy into to capture the best in them. If you haven’t done this first, you have no right to complain about why you’re having a difficult time attracting and retaining the talent you need to effectively grow and scale your business. 
  

Systems of accountability are required to effectively coach and groom the talent you already have, and you need to be constantly recruiting for the skills and talents that you don’t have. Your biggest ROI is replacing yourself. Your biggest expense and conversely your greatest investment is creating fertile ground, and attracting, recruiting, and systemically putting the right people in place. 

You may be tempted to respond with the tried and true, reasonable excuse of not having time or bandwidth to implement the aforementioned suggestions. It’s OK. If nothing changes, nothing changes.

-- ►Prefer video? You can find a nuanced version of this article and more. And if you this content serves you subscribe, like, share, and leaves comments. 👉  How to Avoid Hiring & Partnering with the Wrong People 

___________________________________________________________________________

JuJuan Buford is a CEO, Co Founder serial entrepreneur, writer, and public speaker. JuJuan started his career in the banking and investment advisory industry, and transitioned into business ownership and is enjoying entrepreneurial success in multiple industries: business coaching, real estate wholesaling, direct selling, business technical assistance provider, ghost writing, and publishing. 

 

Phone 👉 888.549.9689 

Website 👉 https://thebufordco.com 

YouTube 👉 https://bit.ly/NextOppSocOnYoutube

Let’s Connect 👉 https://bit.ly/JuJuanBufordOfficial

Learn More 👉 https://bit.ly/JSBBSG_MediaKit

Subscribe 👉 Continue to Learn & Grow

JSB Business Solutions Group - Media Kit

Posted by JuJuan Buford @JSBUFORD

 

FOR THE BEST VIEWING EXPERIENCE,

CLICK THE LINK ON THE BOTTOM LEFT HAND CORNER.

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JSB_BSG_MEDIAKIT2021 by catchjsbuford

 

 

 

JuJuan Buford, CEO, Co Founder, Business Development Officer

888.549.9689 / jsbuford@thebufordco.com

https://thebufordco.com | http://bit.ly/linkedinpublicprofilejujuanbuford

 

Do you have a story to tell? Learn more about how we help entrepreneurs promote their businesses @ https://www.nextoppsocial.com/

 

Let's Connect 👉🏾 https://bit.ly/JuJuanBufordOfficial

 

How Do Pitch Your Business to Strangers Successfully? What Happens After You've Approached Your Warm Market?

Posted by JuJuan Buford @JSBUFORD

There is a race taking place everyday to find, onboard, and retain talented people with a work ethic. Just like in sports, the business owners with the most talented people who've bought in win.

How do you handle problem employees, especially when you're just starting out? How do you avoid bad employees or partners.

-- ►To Watch More, Subscribe Here: CATCHJSBUFORD On YouTube And Remember Sharing is Caring.

Share Your Story.

Join us every week at NextOppSocial A place where you can listen, learn, and consume actionable content to launch, build, grow, and scale your businesses. We explore new topics each week and interview entrepreneurs throughout the Detroit Metropolitan Area, sharing insights regarding various subjects, important business strategies, success mindsets, and tools you can use to level up in your business endeavors.

Watch the most recent episode here @ What Business Owners Need to Understand About the Tax System | NOS Interview with Charleta McInnis

CONTINUE TO LEARN & GROW BY CLICK THE FOLLOWING LINK @ LAUNCH, GROW, & SCALE YOUR BUSINESS

 

 

JuJuan Buford, Business Development Officer

888.549.9689 / jsbuford@thebufordco.com

https://thebufordco.com | http://bit.ly/linkedinpublicprofilejujuanbuford

Let's Connect > https://bit.ly/JuJuanBufordOfficial

Information, Strategies, Tactics, & Resources to Support Businesses & Entrepreneurs @ https://www.catchjsbuford.com/

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Business Origination Documents

Posted by JuJuan Buford @JSBUFORD

 

Disclaimer: This content has been made available for informational and educational purposes only and is not meant to be a substitute for legal, accounting, or other professional advice. If you have specific questions about any legal matter, you should consult with an attorney or other professional services provider.  

 

One of the most commonly asked questions among new business owners, is how important is it that I seek guidance regarding properly structuring my business? Not fully understanding what structuring a business really entails:

1. Understanding what is the difference between a DBA, LLC, S-Corp, C-Corp, or L3C?
2. What are my intellectual property rights, and how do I protect them?
3. What is an operating agreement, and what other documents do I need? (Here's a side bar. When I learn of an entrepreneur not being able to secure monies from a bank, micro-lender, or a private investor doesn't return their phone call,  90% of the time it's because they were able to produce an operating agreement, balance sheet, income statement, and or cash flow statement)
4. Am I going to compensate myself as 1099 or W-2? 

Not knowing the answers to these questions, is the equivalent of building a house without investing in or inspecting its foundations. Sooner or later, very expensive troubles are going to find you. 

Additionally, one of the most significant challenges fledgling and established business owners face alike today, is finding and retaining good, talented employees and business partners. Unwittingly, many business owners actually sabotage their efforts to attract and retain talent by not having the following documents in place: an operating agreement, a confidentiality agreement, contracting agreement, and a non-compete or non-circumvent agreement. 

Many will argue that because they are still just a small operation (the attitude comes before the altitude), they are not generating significant revenues, or they are a sole-prop there is not a pressing need for these documents. However, what many entrepreneurs frequently fail to realize is that these documents are very important not simply because of their utility, but  because of what they broadcast to the world about your business. 

Having these documents at your disposal or not having them signals to prospective business partners, affiliates, employees, contract workers, and prospective investors whether you’re a swashbuckling pirate attempting to collect some quick bounty, or whether your running a serious operation with a solid foundation that should be respected. 

An Operating Agreement

Sample Operating Agreement

Plainly speaking an operating agreement is an arrangement between members or shareholders of a business entity regarding they conduct business affairs. It spells out the rights of members or shareholders, obligations, and procedures regarding how the business is to be managed. It provides clarity, and helps parties stay in their lane, and play nice. 

As a business owner/s your value proposition can be phenomenal and you can be surrounded by all the talent in the world, but if individuals aren’t clear about what is expected of each other, things can go south very quickly. People don’t rehearse accidents resulting in disabilities, car accidents and untimely deaths, divorces, or simply losing personal interest in a business. And regardless of how fine of character you believe someone to be, we all have been surprised at one time in our lives by wolves hiding in sheep's clothing. Operating agreements resolve these issues and more. 

• Voting rights,
• Issues related to parties leaving and possibly becoming competition,
• How a buyout may need to be handled,
• How profits are distributed,
• Expectations regarding how monies invested will be handled, 
• Buyout provisions,
• What happens in the event of disability or death, and
• How the company will be taxed.

As an aside, having an operating agreement also helps to demarcate the lines between personal affairs and business affairs, offering greater protection from legal challenges arising from tax issues as well. 

A Confidentiality Agreement / Non-Disclosure Agreeement 

NDA - Sample Non-Disclosure Agreement 

You have this incredible idea, and you throw 100% of your will, intellect, and finances into birthing it into a living, breathing, profit creating reality. You’ve included your best buds and trusted confidants in the process, and sought out talent that you don’t possess to help you scale your blossoming business. Only to find out someone has “stolen” your idea, your recipe, insight into your marketing strategy or business plan, or information about your customers. 

Confidentiality agreements dissuade parties from committing the aforementioned offenses and protects your business interests. 

Non-Compete, Non-Solicitation, Non-Circumvents

Sample Non-Circumvent

These documents place restrictions upon employees, contract workers, shareholders, and even passive investors from directly or indirectly competing against your business. Depending on how these documents are drawn up, they can address issues relating to an employee or contractor joining another competitor while employed by you, after the end of working relationship, or a period following termination. They can also be effective at preventing parties from investing in or lending monetary assistance to a competitor. 

 

They are especially effective at preventing or limiting activities such as disclosing confidential information, information regarding clients, sharing information for the purposes of disparagement, or usurping activities involving suppliers or providers of technical assistance.  

 

Contracting Agreement

Sample Independent Contracting Agreement

Contracting agreements outline expectations regarding services to be provided or products to be delivered, accompanied with agreed upon compensation for products and services. This document provides the basis for recompense if a client, vendor, or other parties you’re engaged in business activities with. This isn’t your granddaddy’s economy or society anymore. Unfortunately, a handshake or verbal commitment isn’t worth what it used to be. 

You’re interviewing ideal candidates for work in your business, and they continually opt to work elsewhere? You’ve been taken advantage of, having experienced material theft or property right infringement? Your employees or contract workers arrive late and unprepared, destroy or lose equipment or supplies, or disparage you openly or covertly? You're finding that potential investors listen to you politely, and disappear shortly thereafter? 

Remember, the way you introduce your business and onboard someone - the presence of the aforementioned documents being a critical part of the process - for the purposes of seeking their labor or currency informs them how seriously to take you, and dissuades the bad behavior that occurs all too often in business.

 

 

Do you have additional questions? Call 888.549.9689 x.101 or I invite you to visit my online calendar at https://bit.ly/SmallBizArchitectureMeetUp

And if you found this article and any of our content to be awesome, and you're feeling tipsy? Buy me a coffee! 

 

#entrepreneurshipisempowerment

 

 

 

JuJuan Buford, Managing Partner

888.549.9689 / jsbuford@thebufordco.com

Website - https://thebufordco.com/

 

 

Our goal is to help 100,000 entrepreneurs launch, grow, & scale from a team of me to a team of we over the next 10 years. Learn More - https://bit.ly/JSBWorryLessBuildMoreProject10000

 

Schedule An Appointment - https://bit.ly/SmallBizArchitectureMeetUp

 

You Can't Make Excuses & Win In Entrepreneurship

Posted by JuJuan Buford @JSBUFORD

It's easy to get caught up in the weeds. You're just doing the work. You're evolving, growing, and increasing your capacity. And then you start getting the questions. "So, are you a business consultant, or coach."

I'm more comfortable with being thought of as an entrepreneur that enjoys building businesses, and doesn't mind helping other entrepreneurs level up as well. I firmly believe that if the ecosystem is healthy for me, it is healthy for you, and the next person. And vice versa. It's about creating fertile ground.

I believe that people who appreciate NextOppSocial feel the same way. We invite you to join us as we cover a variety of subjects related to entrepreneurship, and interview the fledgling to the prominent and everyone in between.



We do things. We learn things. We evaluate things. And we share what we learn. How does that sound? Check out the links to learn more. 👇 👇 👇


Join us every week at NextOppSocial! A place where you can listen, learn, and consume actionable content to launch, build, grow, and scale your businesses. We explore new topics each week and interview entrepreneurs throughout the Detroit Metropolitan Area, sharing insights regarding various subjects, important business strategies, success mindsets, and tools you can use to level up in your business endeavors.

We bring you content for entrepreneurs, by entrepreneurs sharing their invaluable experiences and wisdom. We feature fledgling and established entrepreneurs alike; everyone from multi-millionaires, subject matter experts, CEOs, best selling authors, and some of the brightest minds in business.

 

About This Episode:
 

What if your idea of success as an entrepreneur wasn't guaranteed for another 3 years? Would you still be willing to give it your all? Join us for a powerful interview with Real Estate Professional Nicole A. Carter, who serves up Real Service in Real Style! Nicole gave us an unapologetic interview that is bound to leave you motivated and determined to grab hold of your focus, trust your passion, and fuel yourself towards a lifetime of success.

Click the following link > NextOppSocial On YouTube or the image below. 

 

Subscribe. Leave comments. Sharing is caring.

 

 

If you're smart, industrious, committed to personal development, and building financial independence hit the subscribe button. We believe entrepreneurship is empowerment, and we look forward to helping you achieve a life of satisfaction and success.

  

 

 

At the NextOppSocial - The Aftershow we strive to provide a safe, respectful, and stimulating environment for entrepreneurs to engage in lively discussions, explore business topics, share and beta test ideas, create substantive relationships, and sharpen the saw.We invite you discuss, comment, ask questions, seek advice, or offer suggestions to the NextOppSocial community. Participate & Enjoy!!!

We do things. We learn things. We evaluate things. And we share what we learn. How does that sound? Check out the links to learn more. 👇 👇 👇

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How to Find or Regain Focus, Energy, & Remain Inspired As An Entrepreneur

Posted by JuJuan Buford @JSBUFORD

 

Why does your business exist, beyond simply making a profit? What do you want your impact or legacy to be in the world? What is your WHY?  

Being able to answer these questions is important because it's hard to expend your life's energies on a compromise, and success is an inside job. There is not enough motivation in the world (books, podcasts, videos, seminars, etc.) to feed you and push you to achieve your best life. At some point you have to identify the values, beliefs, and ideas that give you energy. You need to have a well to pull from that will propel you forward before the recognition; create accountability when people are not looking; and push you to be excellent before the rewards become apparent. 

Answering these questions will also help you frame your value proposition to the rest of the world. They will help you determine how you show up at an initial meet up, at networking events, when you give an elevator pitch, and how you accentuate your value to the world via social media and elsewhere. They are essential to helping you attract your tribe: the business partners you will eventually work with; your ideal clients; and those who are willing to support and advocate for you when you're not in the room. 

And just as important, answering these questions will help you stay focused on your focus. I've read that a light bulb and a laser use and produce the same amount of energy. However, the light bulb’s energy illuminates, but dissipates into a space. Whereas, a laser's energy is focused, and can cut through, chisel, and curate the environment around it. When you're flying from project to project, and you lack focus, you'll find very often that while the calendar moves, you haven't moved or progressed any further toward your goals.

Additionally, you are unable to resonate with your tribe, because people don’t know WHO or WHAT you are from day to day, and therefore you fail repeatedly to gain the traction (trust) and momentum (social evidence) required to push your business endeavors forward. There's a hidden inertia that exists in business, akin to pushing a 5000 lb vehicle. In the beginning it's tough, but once the wheels get rolling you and those observing you may begin to marvel about how easily you're able to achieve progress. Inertia allows you to accomplish more, attract more, and invest more in your endeavors as opposed to being bogged down with the psychological strain of surviving day to day. 

So, how do you begin? This is an abbreviated version of a questionnaire I typically distribute to clients who are in the start up phase of their businesses, or entrepreneurs who need a hard reset. The questions are designed to help you identify and answer the following questions?

And by the way, if you like the appetizer, and desire a deeper dive, reach out to me using the contact information at the end of this article to schedule an appointment. 

 

• Why does my business exist?
• What are my core services? 
• What are my competitive advantages? 

 

WHAT ARE MY CORE VALUES? One way to answer this question is to ask yourself, what are your key principles? What are the issues or matters that matter the most to you? What are the things you'd draw the line in the sand for? Fight for? Sacrifice for?

If you could describe the culture of your organization you’re building in 3 to 5 words what would they be? Take a moment and think about the professionals or individuals you respect most, and ask yourself what characteristics do they embody? For example: 

• financial independence
• legacy
• professionalism
• uplifting service
• providers for their family and community
• unabashed accountability
• absolute commitment
• passionate about having fun
• constant learning & growing
• entrepreneurship is empowerment
• longevity and forever relevant

 

WHAT IS MY CORE FOCUS? One way of answering this question is to ask why does my business exist? What is the purpose, cause, or passion? Once again, choose only 3 - 5 (less is more). For example:

• to help people live, lives of satisfaction through entrepreneurship
• to help women overcome financial, relationship, & emotional distress
• to help men adopt & sustain healthy mindsets
• to be a highly effective change agent
• help people achieve agency & control of the lives
• to serve the best, most smacking waffles ever known
• to use my art to make people smile and forget their worries

 

WHAT IS MY NICHE? Or who do I want to serve? Be specific. What is the one thing you believe you can do better than anyone else? For example:

• make complex ideas easy to understand
• provide actionable content for entrepreneurs
• write compelling marketing content
• provide start ups with the most comprehensive, affordable tools to grow their businesses
• help single african american men navigate (step by step) fatherhood 
• helping distressed property owners avoid foreclosure
• provide healthy catering alternatives for diabetics
• coach people to become their best selves
• help people improve the performance in quantifiable steps  

 

WHERE DO I WANT MY BUSINESS OR WHAT DO I WANT MY BUSINESS TO BE 5 YEARS FROM NOW? Be specific. For example:

• to have 3000 clients who regularly refer at least 10 clients yearly 
• to own 20,000 family units & 500 multiplexes 
• to generate $10,000,000 in insurance premium yearly 
• to help 520 families achieve financial independence annually  

 

WHAT ARE MY 3 UNIQUE CHARACTERISTICS THAT SET ME OR US APART? What are your guarantees? 

• we are an organization of entrepreneurs, serving entrepreneurs
• we guarantee funding or a 100% refund
• we provide uplifting service and exceed our clients expectations 
• we invest in our people
• we get what you do 
• your priorities are our priorities 
• we guarantee delivery in 2 days or a 50% refund

 

This condensed version of my business questionnaire should be a great start. And as always, I look forward to learning what is most important to you at whatever stage of your business you may be in, what you're taking aim at, and sharing additional information. 

Let's connect soon! @  http://bit.ly/JuJuanBufordOfficial

 

#entrepreneurshipisempowerment

___________________________________

JuJuan Buford is a Detroit native, entrepreneur, business development professional, and writer dedicated to helping families, entrepreneurs, and business owners establish thriving enterprises, achieve financial independence, and build lives of satisfaction.

IS THERE MORE? YES! Join my email group to receive my best stuff!! Continue to Learn & Grow

 

Website: https://thebufordco.com/

Website: https://www.nextoppsocial.com/ 

Facebook Community: https://www.facebook.com/groups/nextoppsocial

LinkedIn: http://bit.ly/linkedinpublicprofilejujuanbuford

Twitter: @JSBUFORD

Believing Faster, Overcoming Negativity, & Understanding Bitcoin - Join Us on NEXTOPPSOCIAL w/ Inglish Reed-Jones - Civic Leader & Entrepreneur

Posted by JuJuan Buford @JSBUFORD

 

Join us this week at NextOppSocial! A place where you can listen, learn, and consume actionable content to launch, build, grow, and scale your businesses. We explore new topics each week and interview entrepreneurs throughout the Detroit Metropolitan Area, sharing insights regarding various subjects, important business strategies, success mindsets, and tools you can use to level up in your business endeavors. 

We bring you content for entrepreneurs, by entrepreneurs sharing their invaluable experiences and wisdom. We feature fledgling and established entrepreneurs alike; everyone from multi-millionaires, subject matter experts, CEOs, best selling authors, and some of the brightest minds in business.

This week we are excited to introduce Inglish Reed-Jones, a proud millennial on the move, determined to unite fellow like-minded peers to be change agents in our communities and world. She is the CEO and Founder of Millennials VS. Everybody, sites on the Advisory Board for Brilliant Detroit, and spends a large portion of her time as a Vanguard Fellow and Crypto Trader. 

Click the image below to view this episode!

 

If you're smart, industrious, committed to personal development, and building financial independence hit the subscribe button. We believe entrepreneurship is empowerment, and we look forward to you achieve a life of satisfaction and success. 

Take a moment to view past episodes here or click the pic below.

Never Miss An Episode by Visiting NextOppSocial here > https://www.nextoppsocial.com/ & Click the Subscribe Button

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JOIN US LIVE ON WEDNESDAYS @ 10:00AM EST AT > https://bit.ly/NextOppSoconyoutube

LEARN MORE @ NEXTOPPSOCIAL WEBSITE > https://www.nextoppsocial.com/

 

 

#entrepreneurshipisempowerment


_____________________________________

JuJuan Buford is a Detroit native, entrepreneur, business development professional, and writer dedicated to helping families, entrepreneurs, and business owners establish thriving enterprises, achieve financial independence, and build lives of satisfaction.

IS THERE MORE? YES! Join my email group to receive my best stuff!! Continue to Learn & Grow

Learn More & Follow him online here:

Website: https://thebufordco.com/
Website: https://www.nextoppsocial.com/  

LinkedIn: http://bit.ly/linkedinpublicprofilejujuanbuford
Twitter: @JSBUFORD

 

Anxiety & Depression in Entrepreneurship

Anxiety & Depression in Entrepreneurship   Posted by JuJuan Buford @JSBUFORD In this live chat Rachele Wilson, Digital Marketing Strategy & JuJuan Buford discuss Entrepreneurship & Depression. Not exactly the subject matters we like to talk about in tandem. It makes many of us uncomfortable. It's not considered positive or progressive to air out in public or even among friends. In fact, in some social media circles, exhibiting what many would refer to as emotional fragility is a sign of weakness or simply being spoiled. The bottom line is it's real. Part of the entrepreneurship experience for the majority of us involves navigating bouts of depression. It's normal. It doesn't really matter if you are new in business, been in a business a long time, are doing financially well, or aren't doing financially well - depression can sneak up at any time. And while this year has certainly heightened our awareness and willingness to be more vocal about talking about topics such as anxiety and depression, it's not talked about enough. Join us for this live discussion and please share with anyone you would feel could benefit from it! CLICK THE IMAGE TO TUNE INTO THIS IMPORTANT EPISODE About NextOppSocial NextOppSocial is a weekly show that highlights the achievements of entrepreneurs and small business owners throughout the Detroit Metropolitan; providing an avenue for entrepreneurs to promote their businesses, and providing viewers with an opportunity to learn and draw wisdom from others who are achieving in entrepreneurship. A variety of topics are discussed on a weekly basis for the purposes of providing insights and actionable content to help entrepreneurs and small business owners level up in their respective endeavors. Join us as we celebrate entrepreneurship; inventory life's lessons, #businessstrategies, #tactics, and #mindsets; and bring you sustenance for the entrepreneurial soul. Tune into future episodes & join our mission! Learn more. Do more. Teach more. Collaborate more. Build more. Create success stories and help others build thriving businesses. Join us LIVE WEDNESDAYS @ 10:00am EST. at NEXTOPPSOCIAL ON YOUTUBE

 

#entrepreneurshipisempowerment


__________________________________________________

JuJuan Buford is a Detroit native, entrepreneur, Founder & CEO of JSB Business Solutions Group, business development professional, and writer dedicated to helping families, entrepreneurs, and business owners establish thriving enterprises, achieve financial independence, and build lives of satisfaction.

IS THERE MORE? YES! Join my email group to receive my best stuff!! Continue to Learn & Grow

Follow him online here:

Website: https://thebufordco.com/
Website: https://www.nextoppsocial.com/  

LinkedIn: http://bit.ly/linkedinpublicprofilejujuanbuford
Twitter: @JSBUFORD

 

Winning on LinkedIn (Social Media) as an Entrepreneur: Engagement, Branding, Scheduling Appointments

Posted by JuJuan Buford @JSBUFORD

 

What follows is a redacted training from Sunday, May 24th at 3:00pm, Business on LinkedIn: Engagement, Branding, Scheduling Appointments, sharing effective strategies for establishing presence, garnering credibility, and onboarding clients on LinkedIn.

 

Know Who Your Target Market is or Buyer Avatar

Take time to understand what your end user or ideal client is interested in; what they're searching for; and reflect on the type of content that would attract their attention. Understanding that people's favorite station is WIIFM (What In It For Me) is a reoccurring theme throughout this training. Inevitably sharing what you want your audience to know about you will waste a lot of time, energy, and currency, if you don't understand what they want to learn. 

If you own a hair distribution company, and your products are high end. Ask yourself, where are my high end clients? What type of occupations do they have? Where are they spending their time online, whether it be for the purposes of networking or sifting for opportunities to level up? What are their habits?

For example. Womenpreneurs and women who are higher achievers in corporate america have both the disposable income, and are motivated to brand themselves as successful, well off, sophisticated, etc., etc., They are more inclined to invest in the veneer. I'd find a way to curate content that directly takes aim at this desire. Rather than posting a million hair product pics on Instagram competing with everyone else doing the same thing, especially if you don't have the capital to spend or access to influencers in the beginning stages of your business. 

I posted an article that is a good precursor to the remainder of the content that follows regarding how to show up for prospective clients. It is a brief recap of advice shared with a creative entrepreneur looking to gain traction on LinkedIn. 

 

Who is Your LinkedIn Title or Profile Description Serving? Jettison the Idea that LinkedIn is Your Resume. LinkedIn is a Landing Page.

Is your LinkedIn title a vanity project to show off how credentialed you are, or is it worded to let the world know how you may be of service to them. Remember to view your content through the eyes of your ideal customer. Jettison the idea that LinkedIn is your resume. LinkedIn is one of your landing pages. 

Remember, you're not interviewing for a job. You're not a W-2. You're looking to attract a buying client, who is motivated to secure your services or products. 

Ask yourself, which set of profile descriptions are going to attract the attention of a person who is primed to acquire a service or product from you?

OR

Which Set of LinkedIn Summaries Informs Your Audience About How You Can Be of Service to Them?

OR 

What is Your Body of Work? Third Party Credibility Wins on LinkedIn

 

Content is King. Be the Subject Matter Expert (SME) on LinkedIn.

Start With a Salutation As Opposed to a Presentation

Be a human being that is interested in the people you are marketing to. Be more than an instant sales bot. I've read some really good first approaches, and no doubt some of them work on a macro-level, especially if you have the budget to pay for mass advertising techniques.

It's like paying for 10,000 pieces of mail, knowing only 100 people will lay their eye balls on the contents, to land 1-5 good clients. If you have it in the budget to pay $10,000 to $20,000 to to execute this technique, and your average client results in compensation of approximately $10,000 it can work. 

Remember, people ultimately conduct business with those they like, know, and trust. People don't like being spammed. People, don't know you yet, so you better get them to like you right out the gate. And depending if you've curated your title and summary correctly, and outfitted your LinkedIn page with plenty of third party credibility, they may not trust in your ability. 

Don't show up like this during an initial connection request.

Try showing up like this instead.

How Do You Lean In, & Ask People to Do Business with You on LinkedIn

Well, first off don't be weird or behave like a bull in a china shop. What do I mean by weird or obnoxious behavior? Read the following article, and peruse the section titled, "A MORE EFFECTIVE PROSPECTING METHOD." 

 

 

Are you interested in additional insight regarding..........

What verbiage to use when showing up in people's inbox to lean in and ask for the business?

What is the thought process or philosophical mechanization behind these tactics?

Still trying to figure out what success looks like on LinkedIn for you? 

Have questions about how many posts, how many connection requests... basically how much time and activity is required?

You want my sales scripts, language, or samples of my wording to set appointments that stick?

What does it look like & how does it sound like when onboarding new clients? 

Want more direct assistance or coaching on how to build on LinkedIn absent time consuming, money gulping strategies?

VIEW THIS BONUS POWERPOINT > JSB BUS SOLUTIONS GROUP - LINKEDIN POWERPOINT

AND OR SCHEDULE AN APPOINTMENT & REMEMBER.......

 

 

 

#entrepreneurshipisempowerment


__________________________________________________

JuJuan Buford is a Detroit native, entrepreneur, Founder & CEO of JSB Business Solutions Group, business development professional, and writer dedicated to helping families, entrepreneurs, and business owners establish thriving enterprises, achieve financial independence, and build lives of satisfaction.

IS THERE MORE? YES! Join my email group to receive my best stuff!! Continue to Learn & Grow

Follow him online here:

Website: https://thebufordco.com/
Website: https://www.nextoppsocial.com/  

LinkedIn: http://bit.ly/linkedinpublicprofilejujuanbuford
Twitter: @JSBUFORD

Starting a Business With Family. No One Wins When the Family Feuds.

Posted by JuJuan Buford @JSBUFORD

 

Disclaimer: This content has been made available for informational and educational purposes only and is not meant to be a substitute for legal, accounting, or other professional advice. If you have specific questions about any legal matter, you should consult with an attorney or other professional services provider.  

 

You’ve started a business with a dynastic vision serving as your inspiration. You scheduled the family gathering, corralled all the interested parties, inventoried everyone’s commitments, and stepped boldly into the incredible future that awaits you. Very soon the capital starts pouring in, and smiling faces and good feelings abound. You’ve won. 

However, just as there was a beginning to the honeymoon, there will be an end. The open house was a hit, and the winds of support and enthusiasm are very much still at your back. However, there’s been some attrition. A key employee has recently become engaged, and is planning to move to another state. Another found a better job, allowing for more time with the children. A couple family members have begun to behave nonchalantly, arriving late and leaving early. 

You’ve exhausted your warm market collectively, and entrepreneurship is skilled trade. Unfortunately, you’re discovering that much of your staff doesn’t  have the skills to pay the bills. This new phase of your business requires that you upgrade your current roster of employees, and invest in marketing your business more effectively. Additionally, after a couple months of managing your accounts payables and receivables, you’ve realized you need to tighten up your operating expenditures. In other words, you turn off the spigot on unnecessary spending and immediately put a halt to family members using cash deposits, and the business account like their personal piggy bank. 

In business - especially in the beginning - you often have to do things you’re not being compensated for, so later on down the line you can be compensated for things you longer have to do. Your people are still investing time and energy, but some are feeling entitled to receive more income because of the increased profitability, ignoring the fact that reinvestments need to be made. 

Does any of this sound familiar? If so, you know what is about to happen next. 

Very soon people’s feelings begin to creep into discussions and impact expectations; accountability begins to fade; and smoldering animosities begin to surface. Finally, one of the siblings, aunts, or cousins decide they’ve had enough and want their initial investment back. Another, decides to start up a competing venture, and siphon your business resources to launch it without telling you. And depending on how much time you can dedicate to bandaging egos and wounds, accusations of theft and betrayal begin to inundate relationships, and the rest becomes bad history.  

Unfortunately, some version of this narrative transpires everyday in business, and often with devastating consequences. The owner or owners believe these people are my friends, my family, and lacking the business acumen and professionals who have the life experience to help owners prepare and anticipate these challenges their misguided beliefs often become their own undoing. Call it willful ignorance, pomposity, or a combination thereof. The bottom line is these types of conflicts can be more easily managed and avoided by taking a couple simple steps. 

 

Implement An Operating Agreement / Partnership Agreement

Plainly speaking an operating agreement is an arrangement between members or shareholders of a business entity regarding how they conduct business affairs. It spells out the rights of members or shareholders, obligations, and procedures regarding how the business is to be managed. It provides clarity, and helps parties stay in their lane, and play nice. 

As a business owner/s your value proposition can be phenomenal and you can be surrounded by all the talent in the world, but if individuals aren’t clear about what is expected of each other, things can go south very quickly. People don’t rehearse accidents resulting in disabilities, untimely deaths, divorces, or simply losing personal interest in a business. And regardless of how fine of character you believe someone to be, we all have been surprised at one time in our lives by wolves hiding in sheep's clothing. Operating agreements resolve these issues and more. 

• Voting rights,
• Issues related to parties leaving and possibly becoming competition,
• How a buyout may need to be handled,
• How & When profits are distributed,
• Expectations regarding how monies invested will be handled, 
• Buyout provisions,
• Clarification regarding roles and responsibilities,
• What happens in the event of disability or death,
• How the business will manage its tax obligations and debts,
• And how personal infusions of cash will be handled. 

As an aside, having an operating agreement also helps to demarcate the lines between personal affairs and business affairs, offering greater protection from legal challenges arising from tax issues as well. 

 

Non-Compete, Non-Solicitation, Non-Circumvents

These documents place restrictions upon employees, contract workers, shareholders, and even passive investors from directly or indirectly competing against your business. Depending on how these documents are drawn up, they can address issues relating to an employee or contractor joining another competitor while employed by you, after the end of  a working relationship, or a period following termination. They can also be effective at preventing parties from investing in or lending monetary assistance to a competitor. 

They are especially effective at preventing or limiting activities such as disclosing confidential information, information regarding clients, sharing information for the purposes of disparagement, or usurping activities involving suppliers or providers of technical assistance.

 

Address Intellectual Property Concerns Upfront - Trademarks & Copyrights Specifically

Trademark protections can be used for business names, logos and symbols, and some creative artifacts, assuming they are being used to distinguish, or identify goods and services being offered by a specific person or entity. In other words you trademark content that is being used to brand or draw a distinction between you and your competition. 

You can register for trademarks on the state level or employ ghetto copyright tactics however taking these steps only offer limited protection, and if your intellectual property rights are abridged, there is a strong likelihood that you will not be able to pursue punitive damages. And complications can occur resulting in your rights being denied altogether. 

In other words, don’t do it. Your intellectual property rights are evergreen. They have long term value, because they are assets. Invest in your assets casually, and your business will become a casualty. Go through the proper channels, and don’t cut corners when it comes to your IP rights. While filing a trademark registration yourself may be the least expensive method, you may encounter name conflicts or other registration issues that require legal or other trademark professional input.

Employ copyrights to protect written works, artistic expression, songs, paintings, and drawings, designs, symbols or logos even if the work is purely for decorative purposes. If you desire for your business to grow away from you, meaning become an income producing asset that generates revenue independently of your sweat equity, copyrighting your content is essential. While some protection exists without registration, such as a copyright, you need to register for protection of other intellectual properties and generally to defend your property rights in court, including copyrights. 

To help assess whether you want to file trademark or copyright registrations yourself review the following sites for additional information::

United States Patent and Trademark Office > https://www.uspto.gov/trademark

United States Copyrights Office > https://www.copyright.gov/

As with anything, it is best to be proactive. Take the time to determine ownership rights of all intellectual property before launching and be sure to determine how intellectual property will be handled in the event that a business is dissolved. 

 

While there are no foolproof methods to prevent conflicts from occurring when conducting business with family, especially if there isn’t an established culture (hierarchy) of business ownership and collaboration among relatives. These aforementioned considerations can both dissuade bad behavior and provide incentives for desired outcomes. And in the event that things do go south, there is an established blueprint and road map to resolve conflicts, rather than decisions being made in the heat of the moment or while passions are high. 

Lastly, understand the moment you believe you know it all, your obituary is being written. No different than an athlete believing they no longer have to review film or prepare any more. Seek professional guidance and expertise regarding these matters. And remember nobody wins when the family feuds.

 

__________________________________________________

JuJuan Buford is a Detroit native, entrepreneur, Founder & CEO of JSB Business Solutions Group, business development professional, and writer dedicated to helping families, entrepreneurs, and business owners establish thriving enterprises, achieve financial independence, and build lives of satisfaction.

IS THERE MORE? YES! Join my email group to receive my best stuff!! Continue to Learn & Grow

Follow him online here:

Website: https://thebufordco.com/
Website: https://www.nextoppsocial.com/  

LinkedIn: http://bit.ly/linkedinpublicprofilejujuanbuford
Twitter: @JSBUFORD

CHANGE YOUR MIND, TO CHANGE YOUR LIFE!! JOIN US @ NEXTOPPSOCIAL WEDNESDAYS @ 10:00 EST!

Posted by JuJuan Buford @JSBUFORD

 

We at NextOppSocial believe #entrepreneurship is #empowerment, #freedom, #financialindependence, #rewarding, and #fun.

 

Join us as we celebrate entrepreneurship; inventory life's lessons, #businessstrategies, #tactics, and #mindsets; and bring you sustenance for the entrepreneurial soul.

 

This past week, we focused on BOOKs that can make difference in your life. We know reading is the least expensive, and one of the most invaluable investments you can make in life. In order to change your life, read to change your mind. 

 

 

BUILD YOUR AUDIO / BOOK LIBRARY WITH SOME OF THE INCREDIBLE, STIMULATING GEMS DROPPED DURING THIS EPISODE..... (click the image below)

 

 

Tune into future episodes & join our mission! Learn more. Do more. Teach more. Collaborate more. Build more. Create success stories and help others build thriving businesses. Join us WEDNESDAYS @ 10:00am EST. at NEXTOPPSOCIAL ON YOUTUBE

 

 

 

Learn More @ https://www.nextoppsocial.com/

 

 

#entrepreneurshipisempowerment


__________________________________________________

JuJuan Buford is a Detroit native, entrepreneur, Founder & CEO of JSB Business Solutions Group, business development professional, and writer dedicated to helping families, entrepreneurs, and business owners establish thriving enterprises, achieve financial independence, and build lives of satisfaction.

IS THERE MORE? YES! Join my email group to receive my best stuff!! Continue to Learn & Grow

Follow him online here:

Website: https://thebufordco.com/
Website: https://www.nextoppsocial.com/  

LinkedIn: http://bit.ly/linkedinpublicprofilejujuanbuford
Twitter: @JSBUFORD

Interview with Mari G. Byrd, Founder of Facebook Broadcast "Becoming the Best Version of You"

Posted by JuJuan Buford @JSBUFORD

 

In this interview with Mari G. Byrd - Founder of Facebook broadcast "Becoming the Best Version of You" and Detroit civic leader - we cover some of the biggest mistakes and potholes that sideline entrepreneurs frequently, and stops entrepreneurs can take to thrive during the pandemic. 

We know that there are two, starkly differing tales to the pandemic induced recession that we are all experiencing, however while some are suffering, there are others that are growing, prospering, and significantly improving their circumstances in the marketplace. 

Tune into this interview to learn how you can as well.  

 

 

 

#entrepreneurshipisempowerment

__________________________________________________

JuJuan Buford is a Detroit native, entrepreneur, Founder & CEO of JSB Business Solutions Group, business development professional, and writer dedicated to helping families, entrepreneurs, and business owners establish thriving enterprises, achieve financial independence, and build lives of satisfaction.

IS THERE MORE? YES! Join my email group to receive my best stuff!! Continue to Learn & Grow

Follow him online here:

Website: https://thebufordco.com/
Website: https://www.nextoppsocial.com/  

LinkedIn: http://bit.ly/linkedinpublicprofilejujuanbuford
Twitter: @JSBUFORD

YouTube: http://bit.ly/catchjsbufordatyoutube

Facebook:  https://www.facebook.com/catchjsbuford/