NGS
August 2020
Next Generation Speakers
Sylvia D. Browder 10 Extremely Important Tips for a Successful Business Launch
Inside This Issue:
Improving Your Vocal Delivery: 4 Tips For Virtual Meetings
Also: Don’t Ignore The Spider Part II
Grab your copy at Amazon 2
Contents Table of
Editor’s Note... This month NGS Magazine showcases Sylvia Browder who will share with us 10 Extremely Important Tips for a Successful Business Launch. We are also continuing our series addressing Systemic Racism in our country and offering ways that we can fix what’s broken. #BlackLivesMatter And Dr. James Williams is back with another PRESCRIPTION FOR EXCELLENCE
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............................................Free Your Land
...............................................Editors Notes
............................10 Extremely Important Tips for a Successful Business Launch .............Don’t Ignore The Spider... Part II
...Next Level Leadership Summit Online
We have more content and more useful information coming your way so stay tuned! Please share this out with all of your networks to help us reach the masses! Email: Cicone@ciconeprince.com Text: 251-753-6299
......................Prescription For Excellence
.....................................Tips and Thoughts
.............................Body-N-Soul Nutrition
I just want to know one thing, Who’s Got Next? Cicone C. A. Prince NGS Magazine Editor
Cover Photo Credit: Courtesy 3
10 Extremely Important Tips for a Successful Business Launch What’s Your Passion? If you are thinking about starting a business, it should be something you enjoy. Since a lot of time and energy goes into running a business, it is smart to look at your hobby or professional experience as a potential business idea. For example, if you are good at sewing, consider a tailoring shop; or an accountant could look at bookkeeping or tax service. Now, imagine what your life would be like if you spent the majority of your day actually doing what you love. Do you have what it takes to be an entrepreneur? To improve your chances, here are 10 Extremely Important Tips for a Successful Business Launch. Tip 1: The Name Game Now that you’ve narrowed it down to ONE ‘business idea,’ you’ve got to figure out a name. A major challenge in starting a business is the process of searching and choosing the right business name. Choosing the right business name can mean success while a poorly thought out name could doom your business from the start. Three smart business name tips: 1. A smart business name must be unforgettable. It is imperative that potential clients be able to remember your business name. I’m sure most people have heard of Nike, Walmart, Target, Home Depot and McDonalds. Like these household names, your name should be easy to pronounce and memorable. 2. A smart business name must describe what your business does. When you create your business name, potential clients should be able to understand what products or services your company offers. For example in ‘ Browder Consulting Group,’ the word “Consulting’ is a clue that I provide specialized advice; or as in Lynn’s Styles & Cuts,’ the words ‘Styles & Cuts is a clue that this is a beauty salon. 3. A smart business name should be as short and sweet as possible. As you advertise your business, it is important that your name display well on your marketing material, such as business cards, ad campaigns, domain name and email. As potential clients search for you on the internet, you want it to be an easy spelled and searchable name. 4
Tip 2: On a Mission A mission statement is an important tool that tells others who you are, what you do, how you do it and why you are superior than your competition. It identifies and clarifies the business’ vision, purpose and direction. It provides the path and focus needed for making and implementing decisions. It helps define to your future employees what they are doing, why they are doing it and where they are going. Tip 3: Make it Legal Be diligent in choosing the best Legal Form for your business. This is one of the first important decisions that you will have to make. This decision can have long-term implications, so here are a few things to consider when deciding which business structure is best for your business: • • • • • •
Scope of business you plan to attain Size of your business Business’s vulnerability to lawsuits Tax implications based on the different ownership structures Level of control do you wish to have Expected profit/loss of the business
Tip 4: Surround yourself with a Progressive Team Who do you need to know or collaborate with as a part of your external team? Having the right people on your team will allow you to focus on your business and help you to avoid costly mistakes. For example, you might need the following: • Certified Public Accountant: best form of ownership, establish bookkeeping, record keeping procedures and tax planning, etc. • Business Attorney: reviewing lease contracts, determining the right business structure, etc. • Computer Information Technician: set up systems, repair issues, etc. • Human Resource Management Consultant: assess your current HR processes for compliance, navigate through delicate labor issues, set up hiring processes, compensation and benefits and create employee manuals, job description and Standard Operation Procedural manuals. 5
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Don’t Ignore The Spider... Part II Talking About The System And Not Talking About Its Maker Is Like Talking About The Web And... Ignoring The Spider!
~Bro. Bedford Continuing our series, “Don’t Ignore The Spider…” we are looking at ways to address the plague and pandemic of Systematic Racism. In our last article featured in Next Generation Speakers Magazine July 2020 we looked at the web and started to identify multiple spiders working in tandem to keep a status quo. This month we are going to start to look at ways of dismantling that system. I believe the first thing that should be done is education, in particular social studies and education on how other cultures and races have developed a set of core values that govern how they deal with each other and how they deal with others. When I was growing up these values where reinforced in schools and places of worship. They help provide a moral compass by which we navigated the world. These values need to be revisited and maybe even some of them revamped to better equip people of color to live in a world where the odds are stacked against them. And this should start from the top-down, with fathers, mothers and sisters and brothers helping to make sure that we don’t lose our way. We are our brother’s keeper. 6
The element of turning the tide that has been leveled against us will lay the groundwork for every stage that follows. If we truly understand our worth and value as people then we will not accept anything less. Know who we are and whose we are will help us filter what we allow into our lives. I remember hearing in a Tyler Perry play, “It’s not what they call you, it’s what you answer to, that’s important.” That statement was so profound that I commented on it to memory. It’s not the label they try to assign to you, it’s the one that you willingly take as your own. We should never let the world tell us who we are, that’s God’s job. We should instead tell the world who we are and we should do it without apology. Having a good grasp of history and how the world works will provide the ground for our self worth and pride to grow and flourish. Instead of trying to convince someone that they are not “Hoe,” “Pimp,” “Drug Dealer,” “Gang Banger,” or any other number of derogatory statements we should be building them up by telling them from which they and the accomplishment that their ancestors have made. Do you know that Disney-Marvel’s “Black Panther” continues its torrid pace, taking in $292 million in North America — the highest first-week haul for a Marvel Cinematic Universe title? That’s $22 million more than “The Avengers” grossed in its first week in 2012. Why is this significant? It’s significant because it shows that people at large know that there is incredible talent, knowledge, skill, and passion in people of color, Like Jay-Z said, the numbers don’t lie, check the scoreboard or in this case the box office receipts. The world knows that there is something different about people of color. If they didn’t they would not put in so much effort to hold us down. The problem is we are starting to wake up to our potential and that’s making the Spiders nervous… To recap, we need a consorted effort to educate ourselves and our children on their history and begin to build a level of pride that cannot be diminished by labels or unfair practices. Once we accept that we deserve better then the next thing is to work to make “Better” a reality. Next month we are talking about “Voting Every Day!” #VoteEveryDay
~Cicone Prince 7
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Tip 5: Research Licenses & Permits Needed for Your Industry As you can see, there are many steps involved in starting a business. With the daunting task of figuring it all out, it’s easy to overlook the important legal requirements associated with permits, licenses and registrations. Here’s a list that your business might need: • State Requirements: Business licensing requirements may vary from state to state. • Business Licenses: Depending on your state, county and city, a business license may be required for tax purposes and to conduct other basic business functions. • Occupations and Professions: Depending on your profession, state licenses may be required for occupations such as, appraisers, accountants, barbers, building contractors, cosmetologists, funeral directors, physicians, private investigators, private security guards and real estate agents. • Tax Registration: Some states carry a state income tax. If you establish your business in a state that does, you’ll have to register and obtain an employer identification number. If your business engages in retail sales, you will need to obtain a sales tax license. • Trade Name Registration: If you plan to run your business in your local community only, registering with the state may be adequate. • Employer Registrations: Are you planning to hire employees? If so, you’ll probably be required to make unemployment insurance contributions. Tip 6: Know Your Clients A common mistake that I encounter with new business owners is that they don’t know who their customer is... possessing a poorly defined target market. Most want to sell their products or services to ‘everybody’ instead of narrowing their targeted customer base to a manageable size. You must do your homework... i.e., market research. I’ve created a business resource guide to assist you, Resource Guide for Women. Tip 7: Got Marketing? In business, marketing plays a key role in getting the word out to your prospective clients. You must create an image and be consistent! It’s important to mold and hone your business image to successfully appeal to your prospects and customers. By choosing a relevant company name, answering your phone professionally, creating a professional and clear elevator pitch, investing in professional business cards, logos and brochures, etc... all are key in marketing your business. 8
Tip 8: Don’t forget Uncle Sam Understanding tax obligations is one of the most important issues facing small businesses. The local, county, state and federal agencies does not care that you didn’t know or you forgot to pay your taxes. You will be subject to penalties for not paying on time. Here are some resources to assist you: For a list of state agencies: business.gov/states/ For a SBA resource guide by state: smallbusiness3.com/magazine For IRS business information: irs.gov/businesses/index.html Tip 9: Don’t forget the ‘B’ Word... Budget! Create a start up budget. Because businesses are different, each will have its own specific cash needs at various stages of development, so estimating your start-up costs may vary. Some businesses can be started on a shoestring budget, while others may require considerable investment in inventory or equipment. It is imperative to know that you will have enough money to launch your business venture. A few ways to prepare: Create a list of anticipated expenses for your first three years Projections are fine, be realistic Have a tracking system QuickBooks, Quicken, Ledger, Excel spreadsheets, I don’t care which you use.... It’s important to put a system in place that works for you. Personally, I use QuickBooks. I can send files to my CPA, easy to work with. In addition, as the treasurer on the board of a non-profit organization, I also use Quick books to reconcile the organization’s bank statements and to bill our member’s annual dues. Open a business checking account. The worst thing you can do is run your business from your personal account... it is an accountants nightmare. Open up a business account so that you can separate the two... plus it tells others that you are serious and professional. Tip 10: Put it all together... in a plan! Last but not least, you must write your business plan. By failing to plan, you are planning to fail. If you can’t take the time needed to plan for the success of your business, then don’t waste your time starting one. 9
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Statistics show that 8 out of 10 businesses fail within the first three years. This is staggering but true! Invest your time in researching and writing a business plan. Many prospective entrepreneurs think that a business plan is very hard and tedious. The truth is it’s a powerful tool that can help you plan and achieve business success. So, what is this thing called a business plan? Well, a business plan is your blue print or what I tell many of my clients, it’s your bible! A business plan defines your business, identifies your goals, and serves as your company’s resume. It will help you arrange strategic alliances, obtain financing and attract key personnel. By planning for success, you will be able to overcome many hurdles that may arise. A closer look at why a business plan is important: • To secure funding, your lender will request your business plan with completed financials. DO NOT approach a lender without having a completed business plan. In his/her eyes, you will look unprepared and too risky. By being prepared, you will have a better chance at securing funding for operations or expansion of your business. • It is a great way to test the feasibility of your business idea. By the time you complete your market or competitive analysis, you will have a clear picture of the viability of your idea. As you can see, there is a lot of work involved before starting a business. To ensure success, it is important to research thoroughly, take advantage of the resources available to you and learn as much as you can. Preparation is key to a successful start! Sylvia Browder is Founder of National Association Women on the Rise, a virtual membership community for aspiring and established women entrepreneurs. For more about NAWR or resources and information for women entrepreneurs, visit us at http://www.nawomenrise.com. Sylvia Browder is CEO of Browder Consulting Group, a virtual small business consulting firm. In her role, she helps Women in Business grow and succeed.She is Founder of National Association Women on the Rise, a virtual community for aspiring and established women entrepreneurs. Article Source: https://EzineArticles.com/expert/Sylvia_D._Browder/1103133 12
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PRESCRIPTION FOR EXCELLENCE With Dr. James J. Williams
Improving Your Vocal Delivery: 4 Tips For Virtual Meetings
The school year in Fall 2020 promises to be historicnot only for students and educators, but parents as well. My son, a rising sophomore, will now have a commute of ten flights of stairs and he will be attending school in a distance learning format. I will also become a part of this new normal, as I embark on my new side hustle as Assistant Adjunct Professor – all online. Virtually speaking, I will be teaching undergraduate students using a laptop and a video camera. Decades ago, I attended Howard University on a journalism scholarship. And while my career took a turn in the tech space for more than two decades now, writing and speaking has always been a part of both my military and civilian career. COVID-19 has now transitioned many of us into the virtual abyss – a domain that has now become normalized. Television personalities constantly work on their vocal delivery, and so should you. Improve the quality of your voice and you will make a strong impression on your listeners, especially in virtual meetings. Here are four tips that will have you sounding like a pro. The sound of your voice and your vocal delivery makes a difference in virtual meetings. Stand out with these four vocal tips by former television anchor and business broadcast journalist, Carmine Gallo. Carmine Gallo is a keynote speaker, bestselling author, CEO advisor, and Harvard Instructor. CarmineGallo.com. 1. Slow your pace. Pace is the speed at which you speak. In person, it’s easier to keep up with a speaker because we see the full range of their expressions and body language. Virtual meetings are unnatural. The video freezes, glitches, and delays. Some scientists say the awkward nature of video chats contributes to ‘Zoom Fatigue.’ One way to keep your viewers engaged is to slow the pace of your vocal delivery. The average person speaks at a rate of 150 - 170 words per minute or higher in normal conversation. I’ve found that speaking just a little more slowly—140 words per minute— works better for virtual presentations. Find the pace that’s right for you. Don’t slow down so much that you put your audience to sleep, but it’s likely that your conversational speech is too fast for a virtual meeting. 2. Pause for impact. One way to slow down the pace of your delivery is to pause after a key message. Let the words sink in. When we rush through a presentation, we tend to use filler words like ‘um’ and ‘ah’ to fill the space. Use silence as a tactic. Nothing is more dramatic than a wellplaced pause. 14
3. Enunciate every word. I used to clip the end of my words until I learned to stop it. It’s a habit most of us do in casual conversation and our listeners overlook it. We simply don’t pay attention to it, but it becomes a more noticeable problem in virtual meetings when it’s already hard to hear every word. Many speakers fail to clearly pronounce final consonants in words that end in ‘nt.’ For example, ‘He kept going’ sounds like He kep goin. Contractions like ‘can’t’ sound like can and ‘won’t’ sounds like won. A simple fix is to practice old fashioned tongue-twisters. Here’s one that worked well for me. Peter Piper picked a peck of pickled peppers; a peck of pickled peppers Peter Piper picked. Record the line once into your smartphone. You might notice that your voice trails off at the end of most of the words. Try it again until you can clearly hear the final consonants. You may feel silly, but it works. 4. Use a high-quality microphone. The built-in microphone on your computer isn’t very good. Invest in a higher quality microphone or headset. In a recent Wall Street Journal interview, Deepak Chopra said shifting to virtual presentations via Zoom and WebEx have “revolutionized” how he reaches his audiences. Realizing that quality sound would enrich his presence, Chopra bought a USB Yeti microphone, a popular brand for podcasters. I now use a Yeti Blue and it makes a noticeable difference. Video-chat software compresses audio, so the higher quality the input, the better you’ll sound to your listeners. Even when the world fully re-opens, most of us will probably conduct more virtual meetings than we did in a pre-COVID workplace. It’s important to sound your best if you hope to leave a strong impression. The opinions expressed here by Next Generation Speakers Magazine columnists are their own, not those of the magazine itself. Email - jjwilliamsphd@gmail.com Cell - 301-806-8614 Webstore - ChasingTheEagle.com Twitter @jjwilliamsphd LinkedIn - linkedin.com/in/james-j-williams PRESCRIPTION FOR EXCELLENCE With Dr. James J. Williams SCHOLAR | AUTHOR | SPEAKER | VETERAN | SUCCESS EXPERT 15
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