Posted by JuJuan Buford, Entrepreneur & Writer @JSBUFORD
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Good Business Practices
May 16, 2022
April 21, 2022
How to Remain Focused on Your Focus & Attract Your Tribe
Posted by JuJuan Buford @JSBUFORD
#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/
Media Kit 👉 https://bit.ly/JSBBSG_MediaKit
April 13, 2022
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/
Media Kit 👉 https://bit.ly/JSBBSG_MediaKit
March 18, 2022
Creating a Culture of Performance and Consistency in Your Sales Organization
Posted by JuJuan Buford @JSBUFORD
Are you an entrepreneur, producer, sales professional, or sales manager who's lost that loving feeling for your business?
Or struggling with how to keep your sales team motivated and prevent drift? A couple strategies slash tactics to find it... again.
And as always, feel free to comment or inbox me. I eat business development and sales strategy feedback and conversations like Reese's peanut butter cups.
_____________________________________________________________________
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/
Media Kit 👉 https://bit.ly/JSBBSG_MediaKit
March 14, 2022
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/
Media Kit 👉 https://bit.ly/JSBBSG_MediaKit
March 11, 2022
What is a Project 100? & Why It's Important!
Posted by JuJuan Buford @JSBUFORD
Are you an entrepreneur looking for a prospecting and sales strategy to jump-start your business, a sales professional looking to launch your sales career, or you're a sales manager looking for an inexpensive way to reboot your sales process?
Or perhaps you're like me... When I first began my sales and entrepreneurial journey over ten years ago. No contacts with disposable income. No credibility as I was just starting out. Very little support or training regarding how to find potential clients.
Then a Project 100 is more than likely the answer for your prospecting and sales challenges. Learn how a Project 100 can help you overcome these obstacles and more.
#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/
Media Kit 👉 https://bit.ly/JSBBSG_MediaKit
March 07, 2022
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:
- Quiet moments to review your personal affirmations,
- Take walks around the park,
- Plant things,
- Celebrate your wins and take inventory of your victories,
- Reflect on your values, focus, and goals, and find alignment,
- Set aside thirty minutes with an inspiring book or vlog daily,
- Dedicated a morning or evening with family or yourself to simply laugh, live, and enjoy life.
- 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
Learn More 👉 https://bit.ly/JSBBSG_MediaKit
Subscribe 👉 Continue to Learn & Grow
February 04, 2022
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
January 26, 2022
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
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
January 24, 2022
Important Steps Entrepreneurs Can Take to Super Charge Their Onboarding Process
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
January 03, 2022
January 01, 2022
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
December 22, 2021
SIMPLE STEPS TO IMPROVE YOUR MARKETING AND SALES PROCESS - Part One
Posted by JuJuan Buford @JSBUFORD
You’ve beta tested your product or service. People love you and they love your offerings. You’ve been able to consistently generate revenues and over the course of time you’ve created an approach that your clients appreciate. Matter of fact, you’ve become so effective you no longer prospect for new clients, you attract them.
However, you've taken your business as far as it can go as an individual. And in order to earn the revenues you desire, become influential, and truly impact people on the scale you desire you know you need to grow from a team of me to a team of we. The bright side of it is you know what you do works. But there’s a problem.
What you’re doing doesn’t readily duplicate. Unfortunately, your staff and specifically your sales staff can’t carry you everywhere in their back pockets and pull you out on demand. Lord knows if there was a way, you would have found a way to accomplish such a miraculous feat. And you may not have the capital to outsource your marketing and sales training yet. Or perhaps you’ve spent $599, $1,999, or $2,249 plus (gasp) on the latest, greatest training guru with little to show for it.
Here’s a couple simple tips or rather questions that have served me and my clients that can dramatically impact your marketing efforts and supercharge your sales team.
QUICK TIP #1. WHAT ARE YOUR GUARANTEES?
Or another way of thinking about it is, what is your signature worth?
One of the greatest, most impactful, yet simplest ways to improve marketing efforts and improve your sales strategy is to leave the customer feeling like they received more than they paid for. Add a guarantee on top of it, and you may be able to dominate your market for time.
I can remember when there was no such thing as a guaranteed delivery time by any restaurant or food establishment, much less a guarantee when someone could expect their food to end up in their hands or on their plates. I remember quipping about how oxymoronic the phrase “fast food” had become in my teenage years and early twenties. Let's fast forward to today.
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 over two decades of being a very frequent flyer at Starbucks, I grown to anticipate after visiting a specific location several times, that the baristas will either know my name, or be able to anticipate my order and know my name.
Consider how effective providing greater than expected performance, coupled with a guarantee worked out and continues to work out for the aforementioned companies.
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. It is what it is. In the short term businesses often win based on what they can and are willing to market, rather than their actual deliverables.
QT Business Solutions is led by Tina Williams. Williams brings to the table all the prerequisite academic and professional accouterments you’d expect from a business planning professional: MBA., years of corporate training in the banking and finance industry for small business owners, and a successful owner and operator of her own enterprise. Williams 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.
It wasn’t enough.
With the introduction of a guarantee, her continual maturation as a business leader, and some consistent promotion QT Business Solutions has become a prominent fixture in the business planning and capital acquisition space, and her business is quickly becoming a household name in the entrepreneurial ecosystem. QT Business Solutions guarantees that as long as 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. Once again, I remember when guaranteed delivery times were nonexistent, 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 competitive advantage.
It can give your promotional stories stickiness and legs to run on in the marketplace. It can equip even the most novice sales professionals with an ace in the hole, providing them with confidence and most importantly, a consistent, duplicable approach to run with. If their presentation is shaky, and doesn’t necessarily inspire feelings of I like you, I know you, and I trust you, the guarantee can help overcome their shortcomings initially. It is what contributes to the building of your brand. And building a powerful, compelling brand is the bag.
Need a couple of examples? Consider the following phrases that can describe what someone’s signature is worth, and create your own. Write down a list of ten or as many as you can imagine. Then carve your list down to one (one is enough) to three guarantees. Remember, a confused mind does nothing, or makes a mess of things.
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 learn what you do, 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…..? Better believe there is. Per usual, there will be a Part Two with even more actionable content, strategies, and tips, accompanied by a video for those who prefer audio and or visual content.
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A recent interview with Danco Sotirovski, of "Ask the Neighbor" and JuJuan Buford, CEO of JSB Business Solutions Group & Co-Founder of NextOppSocial, regarding how to become better at the goal setting process, and why having a goal achieving process is necessary to make it all work.
#entrepreneurshipisempowerment #smallbizarchitect #smallbizarchitecture #nextoppsocial
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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
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December 17, 2021
The 3 Deadly Horsemen That Stop Entrepreneurs from Growing
Posted by JuJuan Buford @JSBUFORD
BONUS ARTICLE REPOST | #4 Deadly Horseman 👉🏾 Failure to Use a CRM (Client Relationship Manager)
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...... (to continue reading and learning visit the following link and enjoy 👉🏾 The 3 Deadly Horsemen That Prevent Entrepreneurs from Growing From a Team of Me, To a Team of We)
OR
Cut to chase and catch the video here 👇🏾👇🏾👇🏾
_____________________________________________________________________
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
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December 13, 2021
Goal Setting is a Good Start. Setting a Goal Achieving Plan is Better.
Posted by JuJuan Buford @JSBUFORD
A couple common mistakes entrepreneurs make when setting goals, and a couple suggestions to get better at the goal setting and achieving process.
#1. Setting goals without a goal achievement plan is like a throwing up a prayer, absent the works behind it. You're left with nothing but empty promises.
#2. Goal setting is skilled trade. And like most skilled trades, there is a process to becoming mediocre, good, than great at it. Accept that you may suck at it in the beginning, and that's OK. Commit to the process.
#3. Be careful of what you wish for. Big goals are going to require some things in return from you. Ask yourself, who must I become, and what changes must I make in order to become the person that is deserved of the goals I've set? Forward movement and progress almost always requires some friction initially. Accept it.
#4. Big goals necessarily require the cooperation of others. Clearly define the talents and skills that you need to execute the goal achieving process, and make connections with good people who share your values and work ethic before you need them. Organic partnerships are the best!
#5. Dream big. Start small. You build a large edifice one brick at a time. Inculcate a spirit of gratitude, and document your progress to ensure you appreciate the small wins along the way. Create a brief, simple goal achieving process that you can execute daily, until it becomes habitual.
Check out the following interview to acquire more details regarding how to curate a winning goal setting and goal achieving process. 👇🏾👇🏾👇🏾
👇🏾👇🏾👇🏾
It's the progress that feels the best!
Danco Sotirovski #nextoppsocial NextOppSocial #verydetroit #smallbizarchitect #thereslevels #goalsetting #goalachievement #entrepreneurshipisempowerment
___________________________________________________________________________
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
December 09, 2021
December 03, 2021
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.
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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
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Let's Connect > https://bit.ly/JuJuanBufordOfficial
Information, Strategies, Tactics, & Resources to Support Businesses & Entrepreneurs @ https://www.catchjsbuford.com/
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November 20, 2021
November 05, 2021
Falling Back In Love With Entrepreneurship
Posted by JuJuan Buford @JSBUFORD
A recent interview with Danco Sotirovski, of "Ask the Neighbor" and JuJuan Buford, CEO of JSB Business Solutions Group & Co-Founder of NextOppSocial, regarding what steps entrepreneurs can take when they've lost that loving feeling for their business.
CLICK THE IMAGE BELOW - PART ONE👇🏾
CLICK THE IMAGE BELOW - PART TWO👇🏾
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October 26, 2021
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:
- Understanding what is the difference between a DBA, LLC, S-Corp, C-Corp, or L3C?
- What are my intellectual property rights, and how do I protect them?
- 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)
- 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
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
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.
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Desire to Learn More? Visit my calendar at https://calendly.com/jsb_business_solutions; whereas you can see my schedule in real time, and select a time that works best for you. I look forward to connecting with you soon.
Want to Know Where you Can Inexpensively Acquire Support, Access, & Assistance with securing these Important Documents? > Build, Scale, & Protect Your Business
We serve companies and entrepreneurs by significantly reducing the expense of conducting research; acquiring more clients; securing capital; onboarding and retaining valued employees; protecting their intellectual property rights; managing growth; and making better tax, financial, and legal decisions.
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October 12, 2021
LegalShield Combats Rising Cybercrime Among Small to Midsize Companies with IDShield for Business
Posted by JuJuan Buford @JSBUFORD
Redacted Post of LegalShield Press Release Regarding Cyber Threats to Small Business Owners
LegalShield Combats Rising Cybercrime Among Small to Midsize Companies with IDShield for Business
ADA, Okla.--As businesses store more customer data online, thereby increasing their vulnerability to cybercrime, LegalShield today announced the newest addition to its portfolio of personal and business security products: IDShield for Business. The cyberattack protection program offers companies with limited or no IT personnel, a comprehensive, affordable way to mitigate risk and recover from a cyberattack. IDShield for Business is part of LegalShield’s IDShield product suite, which for 20 years, has been a leading North American provider of identity monitoring, theft protection, and restoration technology and services for individuals and families.
“Small businesses, an increasing target of cyber thieves, constitute 43% of online attacks—but only 14% are prepared to defend themselves. Not only are their networks at increased risk, but so are their reputations and customer data”
“Small businesses, an increasing target of cyber thieves, constitute 43% of online attacks—but only 14% are prepared to defend themselves. Not only are their networks at increased risk, but so are their reputations and customer data,” said Arnold Blinn, Chief Technology Officer. “And the impact of cybercrime is expensive—when they’re hit, small businesses pay an average $200,000 in legal and cleanup costs.”
IDShield for Business roots out vulnerabilities by scanning customers’ networks. Cybersecurity experts continue to probe, learn, and recommend effective solutions against any found risks. In the event that a customer is hacked, a $100,000 Cyber-Protection Plan covers related expenses, helping the business quickly recover and move forward. The plan includes four primary pillars:
- Vulnerability Scans: Notifies customers of cyber threats by scanning online networks and any connected devices to identify security dangers and compliance risks. The program checks against 100K vulnerabilities every month and provides a monthly risk report.
- Remote Technical Assistance: Live support specialists interpret information in vulnerability scans and aid in resolving issues with patch updates, virus removal software, security resets and more. Specialists are available every day of the year, from 8 a.m. to 7 p.m. CST to review vulnerability scan results, apply patch updates, remove viruses, and remediate vulnerabilities.
- Emergency Help Line Response: If a customer experiences a cyberattack, remote IT professionals help remediate network vulnerabilities, and provide consultation on a wide range of security issues to maximize system safety. Support is available 24/7 and holidays.
- $100K Cyber-Protection Plan: If a cyberattack does happen, customers receive up to $100,000 in cyber liability protection to cover losses incurred as a result of a cyberattack to facilitate a quick recovery. The policy covers PCI recertification, crisis management, public relations, forensic and legal expenses, and extortion loses resulting from a cyberattack.
Starting April 19, IDShield for Business will make available two options: 1. The Essentials Plan protects up to six URLS and/or public IP addresses for $79.95 per month; 2. Business Plus protects up to 12 URLs and/or public IP addresses for $149.95 per month. For more information, visit https://www.idshield.com/ids4biz.
Recently, Forbes Advisor named IDShield’s 3 Bureau Protection Plan as Best Overall Identity Protection Service 2021 and its Family 3 Bureau Plan as Best for Families.
About LegalShield and IDShield
A trailblazer in the democratization of affordable access to legal protection, LegalShield is the world's largest platform for legal, identity, and reputation management services covering more than 4.4 million people. IDShield, LegalShield’s identity theft solution for individuals and families, has more than one million members. LegalShield and IDShield serve more than 140,000 businesses. In addition, over 34,000 companies offer LegalShield and IDShield plans to their employees as voluntary benefits. Both legal and identity theft plans start for less than $25 per month.
IDShield provides identity monitoring and restoration services and is the only identity theft protection company armed with a team of Licensed Private Investigators to restore a member’s identity. For more information about LegalShield, visit: https://www.legalshield.com/ or for more information about IDShield, visit: https://www.idshield.com/
JuJuan Buford, Business Development Officer
888.549.9689 / jsbuford@thebufordco.com
https://thebufordco.com | http
Let's Connect > https://bit.ly/
Information, Strategies, Tactics, & Resources to Support Businesses & Entrepreneurs @ https://www.catchjsbuford.
July 03, 2021
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.
- How do I ensure that new people are learning about my business on a daily basis?
- Social Media Campaigns,
- Inboxing Prospects Online,
- Cold Calling,
- Referrals,
- Email Campaigns,
- Door Knocking,
- Networking Events,
- Open Houses,
- etc.
- How many new people do I need to introduce to my business on a daily basis for it to be viable?
- What kind of tools or marketing artifacts am I going to use to introduce my business offerings?
- Once a new prospect is aware of my services or products, how do I help them make an educated buying decision?
- Landing Pages & Sales Funnels
- Invitation to a Zoom Presentation or Webcast
- Schedule a One on One Appointment
- Social Media Tutorial or Presentation: YouTube, Instagram, SoundCloud, etc.
- Website
- Invite to a Demonstration
- Seminars
- etc.
- 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
- Once I’ve taken on a new client, what steps am I going to take to make sure they are a happy client?
- What is the System for Following Up to Confirm Their Satisfaction?
- How Do I Confirm or Deliver the Guarantee?
- How Do I Ensure Services/Products are Meeting Expectations?
- How Do I Continually Engage My Client After Their Purchase?
- What process do I have in place to obtain referrals on a consistent basis?
- Email Campaigns
- Phone Calls
- Text Messages
- CRM - Automated Messages
- Do I have a Script/s?
- Social Media Group, Membership Club, Subscription
- 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).
Company Site > https://thebufordco.com/
Who is JuJuan Buford > https://bit.ly/JuJuanBufordOfficial
We believe entrepreneurship is empowerment, and provide content, information, and resources to help aspiring and established entrepreneurs launch, grow, scale, and thrive. To continue receiving vital and informative content, click the following link to confirm your email address and subscribe at https://bit.ly/yesthereismore
Learn More 👇👇
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June 08, 2021
March 22, 2021
March 21, 2021
January 09, 2021
Wealth & Legacy Building is Skilled Trade. Learn Why Having An Estate Plan (Will, Power of Attorney, Medical Directives, Trust Planning) Important?
Posted by JuJuan Buford @JSBUFORD
Estate Planning 101 Overview. Click the pic to learn.
IF YOU ARE A BUSINESS OWNER OR YOU OWN REAL ESTATE
WHAT CAN HAPPEN IF YOU DON'T HAVE AN ESTATE PLAN?
1. YOUR BUSINESS OR ASSETS COULD END UP IN PROBATE COURT
During probate, the court oversees your will’s administration to ensure your assets (including your business and or real estate holdings) are distributed according to your wishes. However, probate often takes months to complete and can be extremely costly for your heirs—both of which can seriously disrupt your business operations and even lead to your company’s ruin.
In other words, your business and other assets will be held in limbo, and if you need important decisions, transactions, or other important affairs to be handled there is a good chance your affairs won't be executed. Your family or business partners may know how to operate your business and assets, but their hands will be effectively tied. And perhaps worst of all, probate is a public process, leaving your business affairs open to whoever wants to know what’s going on.
All the aforementioned means paying additional expenses to access your assets, and it opens to door for others to try to disinherit your family and business partners. The confusion may also inspire or prompt other family members to cause conflict, further depleting your business or real estate holdings.
2. IF YOU ARE INCAPACITATED OR UNCONSCIOUS, OTHER PEOPLE NOT OF YOUR CHOOSING, CAN DETERMINE HOW YOUR CARED FOR, AND MANAGE YOUR BUSINESS AFFAIRS
Gasp!! There shouldn't need to be much more said here.
The court will appoint a “financial guardian,” sometimes called a conservator, to assume control of your assets. What is the likelihood that they'll operate your business or affairs like you intended? What kind of conflicts might arise between family members, your business team, employees, and your clients (yes your clients and tenants will find out that you're missing in action).
When you return, it may be to a pile of rubble. Who is determining compensation, how to handle disagreements, or promotions? Who is going to execute your road map?
3. ABSENT AN ESTATE PLAN, KISS YOUR DREAMS OF GENERATIONAL WEALTH AND LIFTING AS YOU CLIMB GOODBYE
As an entrepreneur, most of your time, monies, and financial well being, and wealth is likely tied up in your business; especially if you're a start up, or first generation business owner. If an estate plan and business succession plan is not implemented, how is the business to be transitioned properly to the next generation, or at the least sold for a fair price that enriches the family.
Questions that need to be answered
1. What family members or children are best equipped to actually manage and own, operate, and build the business. Each one of these elements are skilled trade.
2. How do you make other family members whole (keep them from being disgruntled) who are not included in the ownership, operation, and building of the business?
3. What are the guiding principles or management philosophy regarding the management of your business and or real estate holdings (rent, buy and sell, fix and flip, etc., etc., etc.......)
4. Or maybe, it would be best to set up some type of arrangement whereas an employee, member of the leadership team, or an outsider manages, operates, and builds the business, and the family is compensated for a period of time.
Often physicians, accountants, financial agency owners, attorneys, real estate investors, engineers, construction professionals, accountants, architects, and other service and technical assistance providers choose to operate their businesses under the owner-dependent model, as do many general contractors, local restaurant owners and countless other businesses. Owner-dependent, meaning every or almost every critical decision is made by you, the owner.
When the owner dies, the family is finally thrust into making business decisions (assuming it survives probate court) like continuing liability coverage. Did you have buy-sell agreements, key person obligations, and other financial arrangements to insure a cash infusion is made into the business to acquire the expertise, talent, and experience that no longer exists with the owner's passing? How about estate taxes?
Learn what happens when people die without having accounted for estate taxes.
What's next? The best time to learn, plan, make decisions, and implement estate planning decisions is before you die.
Set an appointment today. Worried about the expense? Don't be.
Learn more about estate planning, and how we help you acquire big business resources for your small business dollars, and protect what matters most today.
#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
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December 27, 2020
Trademarks and DBAs: What’s the Difference?
Businesses may register for trademarks and DBAs to protect their marks. However, each form of protection has a different function for your company’s intellectual property. Let’s take a look at what sets trademark and DBA registrations apart and whether or not entrepreneurs receive exclusive rights to both marks.
Trademarks
A trademark protects much more than the name of a business. Additional media that may qualify for trademark registration include phrases and taglines, logos, symbols, and designs unique to the business.
How do you know that your trademark is unique? The easiest way to find out is by conducting a trademark search. One of the simplest ways to start doing this is to search through a trademark database. Consider using The U.S. Patent and Trademark Office’s popular tool called the Trademark Electronic Search System (TESS). This database allows you to see which trademark applications have already been registered or if there are any pending or similar marks. If you notice a pending or registered mark is similar to your own, you’ll cannot register your existing mark. Your impending registration will infringe upon the other mark. Instead, you will need to revise the trademark you wish to register to be a bit more unique or come up with a new idea altogether.
If you discover that there are no pending applications for your trademark, it’s a good idea to start filing for federal trademark registration. File a trademark application with your local Secretary of State or get help from a third party document filing service, like MyCorporation!
The sooner you file to register a trademark,.... (continue reading @ https://gosmallbiz.com/trademarks-and-dbas-whats-the-difference/)
Do you have additional questions, desire consultation, or would like assistance with setting up your own trademark or DBA? Click the following link to set up a free consultation today! > https://calendly.com/jsb_business_solutions
CLICK THE LINK TO SUBCRIBE
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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:
December 06, 2020
VERY IMPORTANT QUESTIONS YOU NEED TO ASK WHEN STARTING A BUSINESS
Posted by JuJuan Buford @JSBUFORD
IT’S NOT WHAT YOU KNOW THAT KILLS YOU IN BUSINESS. IT’S WHAT YOU DON’T KNOW. THE SMALL DECISIONS TODAY, CAN CUT DEEPEST TOMORROW. BE CURIOUS. BE A LITTLE PARANOID.
- ASK WHAT TYPE OF BUSINESS STRUCTURE WOULD BE MOST APPROPRIATE? DON’T ASSUME THAT AN LLC OR A DBA IS ALWAYS THE MOST APPROPRIATE. WHAT IS THE DIFFERENCE BETWEEN AN DBA, LLC, S-CORP, C-CORP, L3C?
- WHAT IS THE DIFFERENCE BETWEEN A SINGLE-MEMBER AND MULTI- MEMBER LLC?
- ASK HOW DO YOU KEEP YOUR BUSINESS COMPLIANT OR IN GOOD STANDING?
- ASK WHAT ARE THE TAX REQUIREMENTS, RESPONSIBILITIES, AND CONSEQUENCES ASSOCIATED WITH EACH BUSINESS?
- WHAT TAX DEDUCTIONS AM I ELIGIBLE FOR? WHAT IS THE SELF EMPLOYMENT TAX?
- SHOULD I PAY MYSELF 1099 VS. W-2?
- WHAT IS THE TAX RAMIFICATIONS OF PAYING MYSELF 1099 VS. W-2?
- IF I HAVE A BUSINESS PARTNER, A FRIEND, A PART TIME OR FULL TIME EMPLOYEE THAT WORKS FOR OR WITH ME, SHOULD I PAY THEM W-2 OR 1099?
- IS THERE CITY, COUNTY, STATE, OR FEDERAL LICENSING REQUIRED TO START MY BUSINESS?
- HOW CAN PAYING SOMEONE UNDERNEATH THE TABLE HURT MY ABILITY TO GROW MY BUSINESS?
- HOW DO I AVOID COMMINGLING PERSONAL AND BUSINESS INCOME? WHY IS IT IMPORTANT?
- HOW DO I PROTECT MY INTELLECTUAL PROPERTY RIGHTS? YOUR BUSINESS NAME? YOUR DESIGNS, LOGOS, OR SYMBOLS THAT IDENTIFY YOUR BUSINESS? WHAT IS A COPYRIGHT? WHAT IS A TRADEMARK?
- DON’T SIGN CONTRACTING, AFFILIATE, LICENSING, OR VENDOR AGREEMENTS WITHOUT HAVING AN ATTORNEY REVIEW IT.
- WHY IS An INDEPENDENT CONTRACTING AGREEMENT IMPORTANT?
- WHY IS A CONFIDENTIALITY AGREEMENT OR A NON-DISCLOSURE AGREEMENT IMPORTANT?
- WHAT IS THE DIFFERENCE BETWEEN A NON-COMPETE AND A NON-CIRCUMVENT?
- WHAT IS AN OPERATING AGREEMENT & WHY IS IT IMPORTANT?
- IF YOU ARE SECURING CUSTOMERS/CLIENTS ACROSS STATE LINES, WHAT IS YOUR TAX EXPOSURE / RESPONSIBILITIES?
- IF I LOAN MY BUSINESS MONEY OUT OF PERSONAL INCOME, HOW DO I ACCOUNT FOR IT?
- IF SOMEONE GIFTS ME MONEY, OR LOANS ME MONEY, HOW DO I ACCOUNT FOR IT?
This list is by no means complete, but these are the questions I wished I would have known to ask, and received answers about when I first began my entrepreneurial journey 20 years ago.
Desire additional information? Or additional technical assistance? Listen the following corporate overview to learn more about how we may be of service to you. > Abbreviated Audio of Small Business Support Services
AND 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:
November 15, 2020
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