With friends like you....

Ah, the old adage: "With friends like you, who needs enemies?!"  It speaks to the hurt you may endure when a friend does you wrong.  There are many great small businesses, which were started by friends and have thrived. But you also hear horror stories about how a business and a friendship was lost.

Another angle is when you start off as a client and a vendor and become friends.  The down side can be allowing receivables to slip off and guilt over charging  from the "rate card".

Here's a third scenario: ignoring your friends when a client is around.

Let's address these one at a time.

If you are considering going into business with a friend, make sure you put everything in writing.  Do not think your friendship puts you above security and organization.  Establish your roles.  Who is the idea person and who is the implementer?  Who is the sales person and who is the collector? What is the revenue share and how much will be reinvested into the business?  You may also want to consider taking online personality profiles to see if you would mesh in a business environment.  If you think you can handle it, then go for it.  But remember, money and friendship don't always mix.

It's a great thing to develop relationships with your clients.  It makes it harder for them to fire you when the competition comes around with a stronger offer.  But on the other side of the coin, it makes it harder for you to say no when they ask for a payment extension or some freebies/favors.  It takes discipline to say no when a client/friend asks for a favor.  Be flexible when you can, but remind them that this is hurting you and needs to be a one-time favor.  Again - the best thing you can do is to put everything in writing.  It shows up front that you are a professional and keeps everything above board.

Finally, if you really value your friends, be loyal to them.  If you are out with your friends and you bump into a client, introduce them.  It doesn't matter if your friends are being a drunk idiot or not.  They are your friends..the ones you can count on through thick and thin.  Your clients will understand if your buddy has his underwear on his head and a shoe missing because somewhere out there they have a friend who is doing the same thing!

So the moral of the story is this: Friends and business make strange bedfellows, but if handled properly and with respect and constant honest communication, can be a formula for success.

Until next time my friends,

Pete

Minnows for Sale!

So while vacationing in Avalon Manor, New Jersey, I was reminded by my Son of how traditional business principles still hold true. 

1. Give a customer what they want or need for a fair price.
2. Location, location, location.
3. Prepare a marketing plan that is targeted and within your budget.
4. Create an opportunity for repeat business.

Tommy is selling minnows to people who need fishing bait.  He has a goal in mind.  Make enough money by the end of Summer to buy a new video game and match those funds in his bank account savings.  At his current rate of sales, he should hit that goal in about 2 weeks! 

So here's how he followed the four principles mentioned above:

1. Customers need bait if they want to catch fish.  He sells a pint of A#1 minnows for $5.  Nobody has blinked at the price.  Flounder love minnows.

2. We are just down the street from a municipal fishing pier with dozens of people fishing from it every day.  The Marina sells squid, but not minnows.

3. Tommy has placed signs on the main road advertising minnows for sale and pointing towards our hose.  People knock up and he sells them their minnows. He printed the signs at a total cost of about 30ç TOTAL and mounted them on recycled driftwood and old plywood scraps.

4. Tommy let each customer know we would be here on the weekends and told them he would discount the next order if they re-used the plastic container he provided.  They all said they would be back. 

I am so proud that Tommy has a bit of the Old Man's business savvy!  Nothing in this life comes to you, you have to go get it.....and this Kid's a go-getter!  He has showed me that solid business principles still work and that you can't be a success without a goal and a plan.

If you need help reaching YOUR goals, please don't hesitate to e-mail me.  And if you need minnows, please come to Avalon Manor!

Tune in next time to see what my Son Joey is doing to save up for an iPod Touch!

Take care - Pete

The First Step is the Hardest to Take

We've all been there.  Planning that pet project in our head.  Organize my workspace, clean out the garage, write the great American novel, start an exercise routine, etc.

I am not willing to help you with any of those things.

But if your pet project is to get started with a social media initiative for your business, then I'm your man!

Solstice Media is currently offering a Summer Special on a New Media package.  I will come to your place of business and produce a video during a two hour session. We will post the video on YouTube. We'll then get your business set up on FaceBook, Twitter and LinkedIN.  We'll create a blog for your business and write the first one.  Then I will come out and train you how to work all of them.  All for the special price of $795!!

Social Media for business is a great way to market your product or services for free and with results.

Solstice can also get you set up with an AdWords account or pay per click campaign.  We can also develop a website or launch page for you.

So take that first step and call Solstice Media today! 

By the way - Happy SOLSTICE!!

Pete Ricci - Solstice Media

Where Have I Been?!?!

Bless me readers for I have sinned.  It has been 9 months since my last posting.  That is the normal gestation period for humans and although I am a male and can not be pregnant, I have been busy giving birth to a number of accomplishments!

I have partnered up with The Power Room and helped create a video studio complete with green screen.  We have been mostly producing music videos, but are now offering business podcasts, web telecasts, live streaming video and infomercials.  Very exciting stuff.

Solstice is also handling projects for Artist Ardeth Sobyak, The Chester City GOP, National Realty Corporation, Advanced Cleanout, Executive Health Resources and MyKidsBFit.com.  A very busy couple of months to say the least.

Personally, my charitable and volunteer initiatives are in full swing as well.  I am on the Board of Directors and Executive Committee for the Delaware County Chamber of Commerce, where I also run the Social Media/Marketing Committee and serve on the Executive Search Committee.  Our Charity, Tommy's Gifts for Kids is growing nicely, events are in full swing at St George's Episcopal Church in Ardmore, Pa, where I am the Fund Raising Chair and I am coaching The Dodgers Rookie Baseball Team at Drexel Hill Little League. 

So, obviously I am busy, but that is no excuse for not keeping in touch.  For that I am sorry. 

Talk to you again (real) soon.  -Pete

What I Learned Down the Shore

Hello Everyone - This past weekend at My Mom's House in Avalon Manor, New Jersey, taught me a few great lessons. These lessons were so great that My wife and I both took Monday off to see if there were any other lessons to be learned! Here is what I learned:

1. Not being "Down the Shore" sucks.

2. If I have a laptop, internet access, my Droid phone, a dictation device, access to my cloud-based server and paper & pencil I can work from anywhere.

3. No matter where I am, my clients can access me. (That's a good thing!)

4. With technology as a tool, you can increase your quality of life and even improve your business.

5. Nobody knows me at my Shore Church so I don't get asked to volunteer for anything.

6. Mundane tasks such as cleaning out your e-mails, organizing your contact database, synching devices, etc are all better if you do them while sitting outside under an umbrella on a dock on the bay with a gin & tonic.

7. Recharging your batteries is critical to success. To prove this so far today I have driven home from the Shore, went to a Delco Chamber Board Meeting, visited a retainer client just to touch base and helped him with a challenge, stopped by my Church and said a prayer for those in need, signed a new client (Woo-Hoo), converted an existing client to a retainer client (2x Woo-Hoo!) and developed 2 web pages for a current project. All this by 4PM!

8. You only live once so live well.

There is so much you can learn by taking time to reflect, recharge and relax.

Until next time - Pete

My Birthday Blog

Happy Birthday to ME!! Today is the day. I am 45. Odds are I am half way through my life and if you count in 5-10 final years of dementia and incontinence, I probably only have about 30 lucid years left! The thing is, I was supposed to be a millionaire by now. Last time I checked my portfolio, that was not the case. So it's time for my half-time review. What has happened that has kept me from this goal and what can I do to reach it by 50? (Since 50 is the new 40, I will technically beat my goal by 5 years!) So I weighed my life's pros and cons and am definitely happy with my life as the pros outweighed the cons.

Pros:
Wonderful Family, A Son who beat Leukemia, hundreds of loyal friends, a great Church Home, My own Company, which is in it's 8th year, a Family Shore Home, flashes of decent musical ability, and a great charity - Tommy's Gifts for Kids.
Cons:
I need to be in better health if I am going to reach 90! I am not a millionaire. I am not close to being a millionaire.

Is being a millionaire THAT important. No. It is not. But I DO want to be able to provide for my children and wife, pay for the kids' college, buy the home that I will spend the rest of my life in and I want to never need the phrase "overdraft protection" in my life again!

How will I achieve this?
By continuing to give customers a great value and great service.
By being more consistent with maintaining rate integrity and collections.
By consistently reviewing my monthly, quarterly and annual goals.
By keeping my priorities in order.
By just plain continuing to work my ass off.

So Happy Birthday to me and thanks for checking in.
Future Millionaire,
Pete

Summertime!

Summer's here and the time is right for dancin' in the street! The time is also right for preparing for the Fall business surge. Most businesses experience a lag in the Summer and a big bump leading into the year's end. So what can you do now to best prepare yourself for the busy season? Here are a few tips:

1. Update your website. Making frequent changes to your site will help with search engine optimization and keeps your content fresh.
2. Organize your contacts. Prioritize your contact database by category and importance. Make sure to reach out to clients who have used your products or services previously at this time of year and see if they need you again this year. Remove dead contacts and clean out your e-mails!
3. Start a blog! A blog is a great positioning tool and a great way to reach out to potential clients. Linking your blog to FaceBook, Linkedin and twitter will optimize the effectiveness of the blog.
4. Clean out your files, desk and office space. Reducing the clutter in your life will make you a better organized and more efficient professional.
5. RELAX!!! Even if you don't have the time, MAKE the time to relax, recharge and have some fun. You only live once and there is no substitute for the value of spending time with Family and Friends and enjoying some quiet time of reflection.

So enjoy the rest of your Summer and if I can help you with anything at all, please don't hesitate to contact me!