Business Strategy

'Build your brand'. It's become a highly popular buzz phrase in marketing, technology and social media circles. Building a brand is a process, some would say a life-long undertaking for any company or product. It takes innovation, great customer relations and cosistent messaging.

If you're the leader of a company, small business or not -- it's just as important to build your personal brand. You are the public face of your operation to the customers, the media and various business partners. In meetings, in the headlines and cocktail hours, people will relate or be drawn to the personal brand you have developed and project. You had better start working on it if you haven't already.

Inc. Magazine has some pertinent suggestions to help you start.

Pick an area of expertise
So you're going to be an ambassador for your brand. But what do you want to be known as an expert or pro in? Maybe you run a marketing firm - your specialty can't be that broad when building a brand. What do you bring to the table that no one else can? Maybe you're great at the design aspect of marketing or maybe you know all of the technologies that can assist in marketing efforts. Just make sure you've zeroed in what it is you can do for others that really sets you apart.

The web is your friend
After you meet a potential employee or business partner or hey, your daughter's boyfriend -- where is the first place you go to get the 'real' scoop? Google of course. You should automatically assume this is where people are going to check out you, your company and anything else you've published or are associated with. You should be making sure your website as up to date and state of the art as possible. Also be sure any other sites you have profiles on are updated and grammatically correct such as LinkedIn, Facebook, etc.

Writing and blogging
Making your perspective readily available for anyone who may be interested in it shows you care to communicate with others and you know how to intelligently express your opinions. It can also help you make connections with others, whether they be for business or personal purposes. If you blog regularly and invite comments, criticisms, etc. you open the door to two-way communication that can ultimately benefit you. (i.e. what if someone sends you an idea on new products or has insight into a global marketing strategy)

Make some headlines
Being quoted in stories or making an appearance in any form of media can benefit your personal brand, positioning you as an expert people go to for insight and information.

There is so much one can do strategically to enhance your personal brand which will ultimately benefit your company as well as yourself. It's not about publicity, attention or making yourself known. It's about establishing who you are, what it is you're about and being sure you can be seen in enough places where those who need to find you can do so.

A recent Wall Street Journal piece addressed the rapid growth of women-owned business -- they have started twice the amount of businesses as men and their growth has swelled during one of the bleakest economic times in America's history.

Yet, the article quickly qualifies that information, "So, it is dismaying to see that, despite all this progress, on average, women-owned business are still small compared with businesses owned by men. And while the gap has narrowed, as of 2008—the latest year for which numbers are available—the average revenues of majority women-owned businesses were still only 27% of the average of majority men-owned businesses."

Interesting, isn't it? What do you think causes this disparity?

Some will say women don't have the 'killer instinct' men do when it comes to making deals or that, by nature, they're too empathetic to make the difficult decisions necessary for businesses to shed extra weight and sauced. Do you buy that explanation? I certainly don't and it truly has nothing to do with my being a woman :)

The WSJ writer, who happens to be a woman herself, offers this explanation.

"I am convinced that the problem is twofold. First, you have women's own self-limiting views of themselves, their businesses and the opportunities available to them. But equally problematic are the stereotypes, perceptions and expectations of business and government leaders."

Now, I'm not sure I buy the first reason. Most of the women I talk with and read who are in business have no different view of themselves or their operations than the men whose brains I pick. I believe to most women, business is business and their differences they see as advantages or differing perspectives, nothing more. I also think most women business owners have ambitious goals, my reasoning being that a woman who desires to start and run their own business is already shedding years of stereotypes and taking on a world they know is dominated by the other sex. If anything, I think these women may even be more ambitious than many men, most of whom are expected to work in the professional world and who are seen in traditional roles of management.

However, I think her latter explanation, that of stereotypes in business and government makes much more sense. The article asserts that training available for women entrepreneurs, such as courses at community colleges etc. is far more focused on the initial phases of beginning an operation and often leaves out planning for growth or making projections for the future.

She also asserts that women have less access to funds and capital -- I could see this holding true. This can cause entry into markets that are cheaper to get into but more difficult to remain in, let alone grow. Seeing a theme here? It's all about growth. You have to envision it, build plans around it. It has to be a fame of mind. Women may be cheated out of the opportunity to grow because of our preconceived notions of how we believe they will do, never giving them a chance to show us what they believe they're capable of.

What do you think contributes to these stereotypes and how can we break them?

A baking company offers employees English lessons and sees an increase in efficiency. An apparel company gives hourly workers incentive -- the more clothes they produce, the more they get paid. Guess what, productivity picked up. Offering employees a little something extra, particularly workers further down on the ladder, can go a long way.

You can read the full article here. It is a simple concept and we've addressed the issue before. Incorporating incentives or regular, creative ways of encouraging and rewarding employees into your business plan or business strategy is necessary to breed goodwill and keep people producing efficiently.

You can do this in a variety of ways:

- build a bonus structure
- adjust your time off policies, perhaps summer hours or one Monday a month off
- plan company bonding events, nice dinners, cocktail hours, bowling (you would be surprised how far efforts like this go)
- institute an employee of the month program, recognize the winner publicly and provide a small gift
- free gym memberships

There are many more ideas but some type of program to keep your employees happy and healthy may extend the life of your business.

We discuss the importance of blogging and social media quite often. It should be a part of everyone's business plan and an even greater part of your company's marketing strategy. And while you can appoint one key person to handle the load, it's important you have diverse voices coming from all areas and levels of your company so the average reader gets a comprehensive look at your operations.

Yet explaining the importance of blogging, making sure others understand it and are willing (maybe even excited) to participate isn't easy. You should be prepared for it to be a long process, one in which you will need to be patient and regularly follow up with people. I have been charged with implementing a social media strategy here at Milestone Advisors and encouraging others to take part so we provide well-rounded information on all of our specialties (which include marketing, technology, outsourced bookkeeping and much more).

Here are some suggestions that might make the process a bit easier for you that I have learned through trial and error:

1. Take time to explain and be sure participating members truly understand the value of social media, what it means to your company, your customers and more.

2. Explain the technical aspects of the platform you're using. You will surprised at how many people don't adapt quickly to different software products. Carving time out to walk people through the steps, leading by example will save you time in the long run

3. Do some creative brainstorming as a group. Just explaining what blogging is and how to do it isn't enough. And leaving it at that can lead to your team members sitting in front of their computers with question marks in their brains and blank stares on their faces. Helping them talk through subjects they can write about a few times will help them to easily develop story ideas on their own.

4. Send them some examples of blogs you really like, whether that's because they are well-written, tackle pertinent subjects or are just fun -- giving your team examples will also aid in inspiration.

5. Continue to provide encouragement. You're asking your team to step out of their comfort zones and do something for the good of the company as a whole. A confident financial advisor or marketing strategy pro may be nervous about sharing their thoughts in an open forum like a blog, check in regularly with words of advice, tips or positive feedback. It will go a long way

Company blogs aren't easy to get off of the ground and they're not easy to maintain but I will say, they are more than worth the effort. They enable you to connect with like-minded businesses, leaders, enhance your brand and maybe, sell a little!

Somewhere along the line, direct marketing has become a whole lot less expensive and unfortunately, more thoughtless. Perhaps this happened when all of us "marketers" shifted much of our outbound messaging to email, blogs and eMarketing. It's easy, it's quick, it's affordable and most of all we can get some great metrics. Ah, every marketers dream.... instant access to data. We can see when our message was delivered, when you opened it, how many times you looked at it, if you clicked on any links, forwarded it to someone else, a conversion rate and on and on. 

Blogging is a fantastic business medium. It can be molded to any cause or purpose, put a human face on your company, help build relationships with customers and make important information available immediately to large groups of people.

We've also discussed that encouraging your own team members or employees is a great way to fill a blog with rich content, different perspectives and infuse personality. And it should be a part of your business strategy to reach customers. However, empowering employees to put personal thoughts on your company website would give any leader pause.

There is always a chance that they could disclose confidential information -- it's easy to get lines crossed concerning things that are discussed in the office but shouldn't go any further than the front door. And, as much as we hope it never happens, unhappy employees sometimes choose to vent or air frustrations in public forums.

So, how do you give employees ownership of this social medium and ensure that your trust isn't violated?

1. Create a governing policy
Guidelines reign people in well and can be pointed to when there are small mis-steps giving you something to reference when discussing what is expected of all your bloggers.

2. Make it clear what should and should not be included
It's okay to tell people what they can and can't write about. It's also okay to extend the agreement to their personal blogs, if they want to participate at all, they have to agree to terms for both.

3. Learn from those who have gone before
Plenty of companies both small and extremely large invite employees to participate on corporate blogs and have create social media policies to govern their participation. Their guidelines are readily available online, when creating yours, see what some of the most successful companies have done.

A social media policy can save you a lot of frustration, time and money should someone abuse the forum. Incorporating a policy into your company's business plan, marketing strategy or strategic hr plan can only benefit operations.

Microsoft launched the Office 2010 and SharePoint 2010 this week. I attended a Microsoft launch event and found the integration with SharePoint on-line services to be a nice upgrade to the current Microsoft on-line services. The on-line services upgrade is scheduled to be available sometime in the 3rd quarter, but the office 2010 product also includes some useful outlook and office integration features.

I have included a useful comparison document found at the following Microsoft link: go.microsoft.com/?linkid=9690494

Milestone Advisors can assist you further analyze the Microsoft product launch by looking at your business strategy and technology plan.

Jack Stack believes the economic recovery is under way. In fact, he asserts it has been for quite some time. He then warns - if you don't have a business strategy or business plan developed and in place to take advantage of the upswing, you may miss it completely.

It may be difficult to believe, particularly in our tiny worlds where we still hear about small businesses struggling for capital or individuals losing their jobs. So, where does Stack get this perception from and what evidence is he using to support it?

"I’ve been speaking eyeball-to-eyeball with entrepreneurs all across the country — in places like Pittsburgh, New York City, Richmond, Va. and Fresno, Calif. — and when I ask them how they did in the fourth quarter of 2009 or the first quarter of 2010, I keep getting responses like, “amazing,” “fantastic,” “record-breaking” and even “best we’ve done in years.”

Yet it seems we're all a little afraid of admitting things might be getting better. Maybe for fear the the worst is yet to come, just as we've allowed ourselves to breathe easy.

But there is firm evidence pointing to companies around the country once again experiencing growth. Stack uses his own company as example, SRC. He admits he had spent so much time reflecting on the economic collapse that when portions of his operations were experiencing new growth, he missed it completely.

Another sign he claims to see -- an increase in lead times, the period ordering something and actually receiving it. This means more and more orders which means more money being spent. Can we get two huge thumbs up for that.

"If you’re still not convinced, do some research of your own. Ask your customers and peers how they’re doing (and tell us in the comment section below how you’re doing). Do your own eyeball-to-eyeball research. Just as importantly, start putting together a strategy to take advantage of the recovery whenever you believe it’s going to hit. If you keep looking in the rear-view mirror and forget to look at what’s headed your way, not only might you miss a golden opportunity to build your business, you might just give your competitors the chance to move ahead of you or, worse, to eat your lunch right out of your hands."

We'd love to hear what you're seeing, hearing and experiencing yourself that either confirms Stack's assertion or proves it wrong. Please share, do you think we're in the midst of recovery? What evidence do you have that supports your claim?

Depending on your answers this might be the perfect time to initiate buying a business that supplements current operations, compiling new financial projections or rebuilding your financial model for the improving economy or to begin the product launch plan you put off when the bottom dropped out of the market. Any way you look at it, it may be time for action!

That time has arrived. Ambitious college students abound, hitting the mall for dress clothes, making a sincere effort to enjoy the taste of coffee and heading off to a nine to five -- all to gain a few lines on their resumes. Yep, we're talking about internships. What used to be an optional form of summer employment has now become a requirement if one hopes to get a job opportunity immediately upon graduating from college.

Internships are not only a great resource for students themselves but also serve a purpose for the companies who offer the programs. They are exposed to the talent and imaginations of a variety of young, fresh minds -- a valuable resource.

How do you manage interns? A good question as there are different parameters for this type of arrangement than there are for new employees. Inc. Magazine has some tips and tricks into best practices when dealing with an internship program.

1. Know what you want
In order for either party to get anything out of the experience, you must have clearly communicated your needs and expectations for your intern. This way they will have every opportunity to produce results for you and they, in turn, will learn.

2. Provide for your interns
From menial tasks to the really big opportunities. Interns should be required to deal with PowerPoint presentations and Excel sheets as well as delivering actual presentations to senior members of your team, providing them a well-rounded experience. You should also give them resources to use after their time with you is through such as connections to professional networking organizations.

3. Provide mentorship and advice
Part of the value in having an internship is derived from the intangibles, things we are exposed to when entering the working world on a daily basis. They can sit in classes and hear about how things work all day long but nothing compares to the knowledge gained from actually being in a given situation or environment. Make sure your employees make themselves available for interns to pick their brains and ask for advice.

You can find the entire article here. I think companies and the interns themselves both benefit from these programs. It is simply important that internships are built into your business strategy or business plan and serve a clear purpose in which some area, marketing strategy, technology, etc. benefits and that you have the time and resources to be sure the participating student benefits.

It's true! They have a 95% success rate. I didn't believe it either at first. Yet it's an assertion backed up by a wealth of statistics.

A 2009 report by Elizabethtown College sociology professor Donald Kraybill. Studying several Amish settlements, Kraybill found failure rates ranging from 2.6% and 4.2%; interviews with loan officers, accountants and industry professions in other Amish regions yielded additional anecdotal evidence of closure rates significantly south of 10%.

How do they do it? The answer is rooted in their culture. In Amish communities, nothing is more emphasized or promoted than hard work. That ethic permeates not only daily chores but the companies they form, own and operate. The Amish also stress the importance of cooperation, relying on others' strengths where you may encounter your own weaknesses. And we're not talking about the kind of collaboration that takes place online, which so many of us rely on daily for business purposes. We're talking about face to face communication and team building that centers around tangible activities and challenges that can unite participants and capitalize on an individuals' best attributes.

Another defining aspect, Amish business owners have a solid understanding of their capabilities and more importantly, the things they excel at. They know what they're good at and don't try to push into realms they may not be skilled in. This inspires something corporations are constantly trying to garner: trust and loyalty of consumers.

It doesn't hurt that the Amish tend to demonstrate humility, a quality that allows good leaders to grow into even better ones.

Many Amish businesses demonstrate great knowledge of business strategy and the accompanying concepts. They build strategies around concrete ideas, incorporate humility into marketing strategy plans and much more. Read the entire article here.

What can you do to be more like the Amish? How can you incorporate their culture into your company's culture or your business strategy?

If you're in charge of increasing public exposure and enhancing the brand image for your company, there are some basics when it comes to social media that you must know, fully understand and put into action. They are simple concepts that won't take much time or effort to wrap your mind around, however, their effective implementation may take a bit longer.

Simple Truth #1
It's your duty to learn how existing and new tools can help your clients or your company. No excuses.

Simple Truth #2
Use and learn new Social Media tools before your clients or executives do. What is an expert? Frequently, it’s someone who just has a jump on the information.

Simple Truth #3
As you learn about a new social media platform or tool, sign up and try for a minimum of 30 days. You may find that it has little use for you personally but it may be a useful channel for your brand or clients to engage stakeholders and customers.

Simple Truth #4
Take some time to reevaluate your personal usage of Facebook, Twitter, Foursquare, and any other platforms.

Simple Truth #5
You should be asking, what's next? One word, DIGITAL.

Once you take the time to research the foundation of each truth you will better understand how to use social media for yourself, your company or your clients. In-depth understanding of these concepts ensures effective implementation of all things social in your strategic business plan or marketing strategy.

Here at Milestone Advisors we advise businesses concerning almost every aspect of running a company. We consult on product marketing plans, financial market forecasting, writing business plans to attract potential investors or simply taking a look at someone's books to see if they could benefit from outsourced bookkeeping.

Recently, there has been a shift in the tools we recommend for marketing strategies. Social media has come out of the blue and now dominates most marketing and business strategy tactics. One of these mediums, Facebook, a social networking site, has become a hotbed for not simply B2C outreach but B2B as well.

In his most recent column, Fortune's Stanley Bing asks if this platform does society more harm than good. Even if you still plan on using the site as part of your social media strategy it's prudent to be aware of all the uses of Facebook as well as the different opinions being voiced about it.

He writes about Facebook as a place where the ugliest aspects of our worst high school nightmares come to life and fears that the worst perpetrators in this online environment will enter the business world and do immeasurable damage.

"In teaching social networking, virtual presence, aggressive electronic messaging and cold-blooded manipulation of group dynamics, Facebook is preparing young people to thrive in business life, particularly on the executive level. I’m just not sure it’s a future office space that I would want to live in."

What do you think? Is this a business world you want to live in? What can be done?

Pitching the media for press coverage has never been something I would call an easy task. Sometimes it truly is all about getting lucky, other times a placement is the result of thorough research and several rough drafts of a pitch. Yet then there are times where no coverage results at all.

With the decline of print media steepening on a daily basis and digital media continuing to generate new scrutiny - the art of successful pitching is constantly up for debate and it seems like securing coverage is more difficult than ever.

Ragan.com, as reliable as ever for great tips, tricks and insights into the public relations world has published '10 keys to pitching your story' and they're relevant like never before.

1. Love your story
If you don't believe in the angle you're pitching and truly love it, no one else will. Fact!

2. Go for remarkable
You have to find an angle that's new and different. Set yourself apart. As PR pros, we all know that's what needs to be done but it's not easy. Don't settle for a mediocre pitch.

3. Remember the cascading effect
Journalists are a competitive bunch. If you can generate interest from one, it may encourage additional interest from others who are keeping tabs on what their rivals are covering. Just hook one!

4. Know your pitch
Inside and OUT. In order to get that catchy angle you must know everything about your client, story and audience.

5. Think beyond yourself
"If I was an editor, would this interest me?" "If I was picking up the Indy Star, would I read this story?" Placing yourself in the shoes of your intended audience will only benefit your pitch.

As a PR professional I read anything and everything I can about pitching best practices. Sometimes I hear a lot of the same things and it reinforces the knowledge and skills I already have when it comes to media relations (and what's wrong with a little refresher now and then?). Other times, I read about a new facet to think about when tackling a pitch. Constant and consistent education is the key when it comes to doing anything well. To read the rest of Ragan's tips on making your pitch stand out or for more PR strategy visit their website .

'Good work, kid.' That doesn't sound like much, does it? But from a young age to the present day, hearing those words come out of my dad's mouth mean the world to me. You can twist that into some dependent need I have for my father's approval. You can assert that I am weak individual because I like to know that he's proud of me. But those three little words of encouragement have helped fortify me on my worst days, whether those were soccer games I hadn't played well in or work days I feel I am not delivering 100%. I can think back to the times he's said it on the phone or typed it in an email and it restores a tiny bit of faith in myself. I think sometimes parents are unaware of this incredible power they have to positively influence their children's lives just as many bosses or company owners forget small utterances of encouragement or gestures of appreciation can have the same affect on employees, enhancing company culture.

So, ask yourself, how do you say (or convey) "good job" to your employees?

There are no wrong answers here. Your response could have been, "I just tell them, good job". Simple, effective and quick - a solid strategy.

Just speaking the words can mean a great deal to your workforce. It can motivate. It can create loyalty. You can also create other means of encouragement or recognition of someone who's done something outstanding. Rewards, public recognition, increased responsibility, exposure to different aspects of the business, even allowing for flexibility in a typical work schedule are all ways to say 'well done' and 'I appreciate you' at the same time. Find a style of doing so that fits with your personality, company culture and goals. Just make sure you are making an effort to say thank you in some form.

Employees need to know they are valued and their contributions matter just as much as kids need to hear their parents think they're living life well. The incredibly small gesture of letting them know will go a long way for all parties involved.

I don't eat mayo on anything - I'm a mustard girl all the way, spicy mustard more specifically. Mayo has always grossed me out. It's not about the calories, after all, when one consumes either mayo or mustard a large beef patty with cheese is typically involved as well. To me, mayo just looks like it immediately clogs arteries. To Jerry Murrell, founder of Five Guys Burgers and Fries, mayo is an essential part of his business philosophy.

When selecting all of the ingredients to be used in his burger chains, Jerry and his four sons (hence the name) tasted 16 different brands of mayonnaise. Now THAT is the kind of commitment to quality that provides for future success. Jerry serves only the highest quality ingredients, regardless of cost to the company. Using fresh instead of frozen meat not only costs Jerry, it costs his customers. The result? They don't care. Sales for 2009 topped out at $483 million. People would rather pay more for burgers made from the best that taste great.

It is Jerry's unwavering dedication to making sure his products taste good, his employees are treated well and his stores are clean that has launched Five Guys into the world of franchising that actually works.

Jerry simply knows how things should be done and doesn't compromise, something every small business owner should pay attention to whether they're just formulating their business plan or business strategy or they are preparing for a new product positioning. What aspect of the business are you passionate about? How do you believe things should be done? Take advice from others, yes, but stay true to your vision. Even if it requires you ingest far more mayo in one sitting than is natural.

What's one thing you have been committed to since starting your business or just starting your career? For more insight from Jerry Murrell, check out Inc. Magazine's 'How I Did It' piece highlighting one of the best burger chains ever.

It always surprises me that in an age where digital information surround us, where opinions and criticisms are readily broadcasted and available for all to see and everyone online is sharing a tip or how-to that people still pitch off-topic, anger journalists and then -- remain indignant.

It is for this reason that blogs such as The Bad Pitch Blog exist. They do their best to make the missteps of PR professionals public knowledge with the hope that they learn from their mistakes and the reputation of the overall profession can be improved. Yet it seems many public relations professionals don't care they are abusing information or that their names or firms are being labeled as hacks. Not to mention -- usually, their sloppy tactics don't result in coverage for a client!

I am blessed to have learned early on that blast emails never get read and general or off-target pitches frustrate journalists. Upon my entrance into the field of public relations I was told, a little research can go a very long way.

A few years down the road, the same mantra holds true.

Next time you have a story angle or idea, here are a few things to consider.

What market is the story most applicable to, both in terms of demographic as well as geographic area?

When you've answered that question, figure out who covers topics in that area and who writes for the audience you or your client want to reach. Think you're ready to pitch? Nope, stop right there.

After selecting some journalists, read their most recent pieces. I'm not talking one or two stories. Read between four and six of their latest stories. This will help you with two things. Most importantly, reading their pieces will allow you a deeper understanding of the types of issues they like to cover and confirm if they're the right reporter to reach out to. Doing the research will also allow you to custom tailor your pitch for that specific reporter - showing them you've taken the time to familiarize yourself with their work. This is a small gesture that will go a long way toward building respectful relationships with the media.

Getting ready to pick up the phone or press the send button. Hold off a little longer. Take a peek at their Cision profile. Make sure you're reaching out to the appropriate email address (or dialing the right number) and give their 'pitching profile' a read. This ensures you're reaching out in the way they're most comfortable with, yet one more step that increases their receptivity to your story idea.

Yes, this pitching process takes some time and can be considered labor intensive. But taking the extra time is more than worth it to give your pitch a fair chance, begin a mutually beneficial relationship with the journalist and the best result of all, GET YOUR CLIENT COVERED.

Any PR pros reading? I'd love to other strategies for successfully reaching out to the media.

As the Inc. piece points out, the freedom of not having to answer to shareholders, a board of directors or hundreds of employees can be a benefit of family operations. However, those closest to you are dependent on your success for their own success. For some, that means even more pressure. The best way to handle this situation is to...

"Keep solid books. By incorporating basic financial tools used by other businesses, including balance sheets and income statements that are prepared regularly for distribution among family members. By sharing and analyzing financial data, you can make your business more predictable, and thus more stable. If no one in the family has a knack for financial analysis, establish a relationship with an outside accountant. Over the long term, strong financial will be an absolutely essential tool."

Not only do you make profits and income more predictable, you avoid conflict that can arise when there are mistakes in bookkeeping or accounting that can cost you and other family members money.

Be sure to have those formal meetings we discussed earlier so your planning and strategy is clearly defined and everyone who wants to be a part of it, is a part of it. And don't be afraid to be formal. Heck, this is your company and being in business is a serious thing. Draft agendas, set firm times to begin the meeting and adjourn it. You will be more productive with the way you as well as others, use that time.

When your business is part of the family, family cannot always come first. By putting business first sometimes, you are actually putting family first.

And last but not least, while planning is key for the future. Be sure to always have awareness of the present and operate, both in terms of business and your role within your family, in the sense of today.

Let's start today's post off with a statistic. Did you know that less than 30% of family businesses survive being passed to the second generation and only 10% make it through third generation ownership? What do you think is the source of such volatility? I think maybe these low percentages are due to a lack of planning in general, the more things that are forecasted, anticipated and made clear from the very initial stages of a business -- the more successful it will be.

We all know how important business plans or business plan strategies are to making sure operations flow smoothly. However, when dealing with a family operation, it's not as simple as drafting those basic documents, clear, concise agreements must be drafted and detailed roles assigned to family members who will be part of the company.

A section in the Inc. article points out:

"The families that are really smart about it, that set up rules, are typically the families who do not fall apart and end up never talking to each other again," Stein says. "Setting up rules when you are getting along can save years of heartache - even if you just set up a rough framework."

Rules are the best way to manage emotions that will certainly come into play when working side by side with family members as well as having your livelihood wrapped up in this work. It's also important to nail down what all those involved are hoping to get out of the experience other than make a living. Some things to discuss are:

- What is everyone involved hoping to achieve?
- What do they NOT want it to become?
- What are their highest hopes for the operation as well as your lowest expectation?
- How do they want to work together and structure operations?

Talk is the main takeaway here. Getting everything out in the open from the very beginning, putting it all on paper and signing it will provide a foundation for good communication down the road.

Email has come quite a long way. It is a vital component of our everyday business dealings and often, the lifeline of communication between either our clients or our customers. Some would call email, the most essential business tool we have in both terms of strategy and tactics.

While email used to be what the email marketing industry terms as 'one-to-one' communication, it has blossomed into 'one-to-many' or 'one-and-back'. Those marketers who understand the transformation of email as a communication tactic that can gain new customers, keep other loyal and lure old ones back - also understand it is now a tool of conversation and must be seen as such.

iMedia Connection recently detailed ten ways that email marketing has changed since it was first identified as part of any savvy marketer's arsenal. The article then highlights ways in which businesses can adapt to the changes and utilize public perception of the communication medium, connecting with them in a way that respects their preferences and ultimately leads to profitability.

Some of the fundamental changes are detailed below.

1. Acquisition is important, but retention is where the money is
The article asserts that people view their email inboxes as different from their actual mailboxes. It's more personal and companies need to ask for permission to be there. People should have the power of choice in subscribing to be a part of your communications. And if you can get them to buy in, you have to spend the time and resources in making them stay. Developing loyal customers is what will ultimately lead to increased business.

2. Email is all about the conversation again
If you're tuned into any social media sites or are keyed into the scene at all, you're aware that to truly engage clients or customers you must first 'join a conversation' before expecting something in return for your activity. This means providing information of value or commenting on things other industry experts are saying. Soon, you will develop loyal 'listeners' who appreciate your participation and are more proned to buy from you, or at least become familiar with who you are.

3. A marketer can't claim success until it's measured the right way
A good marketer will also measure the success of any email marketing efforts you may be invested in. But they should also be mining that data for other reasons, not just to determine if people are opening or reading the email. There is simply so much data available now, a lot of conclusions can be drawn from subscriptions, click through rates, opens, conversions and unsubscribes. And these conclusions should be incorporated as future tactics in any marketing strategy plan or marketing plan process.

The article contains many beneficial insights -- all of which should be analyzed as a way to incorporate email marketing into your business plan in an intelligent and proactive way that will allow true connection to those who matter most to your company.

At Milestone Advisors, we value input, advice and experience from people in all stages of the entrepreneurial game. Whether they're brilliant minds creating product development business plans or brilliant financial models, we believe learning about experiences on all levels is of the utmost importance.

The popular Web site, Unstrapped, spent the past year reading every entrepreneurial blog in the great digital unknown to pull together a list that highlights the best and most innovative minds ever to dare and begin their own companies.

They rated the blogs based on not only the quality of content but also on the remark ability of what they had to say and their appeal to people of younger generations.

I've included some of the highlights below.
 
Rise to the top: David Garland
Why: It's an ideal mix of news and trends in education, business, and lifestyle itself accompanied by quick interviews that last just long enough to glean nuggets of truth without boring those of us on the go.

Quick sprout: Neil Patel
Why: Here you'll find all the necessary information and tools to not just succeed in the workplace, but to truly stand out. And it's blunt (something we all can appreciate).

Startup lucky: Aronado Placencia
Why: Need to connect with investors? Here's where to learn how.

Under 30 CEO: Matt Wilson and Jared O'Toole
Why: If what you've needed to get your operations off the ground has been a little push, you'll certainly find it here. Wilson and O'Toole can provide you the motivation or kick in the hind parts to start turning your ambitions into reality.

The list has many more blogs packed with insight, ingenuity and breathes of fresh air to give us all hope that there are countless small businesses and great ideas to fuel future job and economic growth.

It's important we continue to look not just to those who have gone before for advice and inspiration, but also to those who are coming up -- they are untainted by the perils of the business world, they are full of hope and have grown up in an entirely different time than many of us. What has fueled their development as people and more specifically, as entrepreneurs is a different kind of influence and one that should be explored.