Secret #125: Don't Pay For Subscriptions To Business Magazines

Here's secret #125 from my new e-book entitled 500 Black Business Secrets: Don't pay for business magazine subscriptions.

FreeTradeMagazines.com and FreeBizMag.com offer 100% free subscriptions to hundreds of different business magazines.

It's not a gimmick either; You don't pay a dime. They literally will give you free 12-month subscriptions to business magazines that pertain to your industry.

Magazines actually need subscribers to be successful, and when they can't get people to pay for subscriptions - they give them out free. As long as relevant people are getting the subscriptions, they're happy and so are their advertisers.

For more business secrets, download my e-book at:
www.500BlackBusinessSecrets.com

My Solution For The Music Industry

I don't claim to be an expert on music, but I think I know why the music industry is at an all-time low. Because today's music sucks!

There are two types of music: Music that people tolerate, and music that people buy.

Music that people tolerate is music that people like to hear when driving and when at the clubs. They like the beat, and they'll dance to it - but they're not impressed enough to actually spend money on it. Obviously, this kind of music generates $0 dollars in revenue.

Music that people actually buy is... well, music that people buy. They love they lyrics, they love the beat - and they are motivated to spend money for it.

Unfortunately, most of today's music is just music that people tolerate.

I find it very interesting that Michael Jackson sold 1.2 million albums within a two-week period after his death, but there are tons of well-known artists who haven't sold that many records all year.

For instance, out of an estimated 50 million people who listen to hip-hop and R&B - only 500,000 have bought Keyshia Cole's most recent CD - which has been out for 29 weeks. That's less than 1% of her potential audience.

Other popular artists who get tons of airplay, but haven't yet sold 1 million units this year are: Keri Hilson, Rick Ross, Soulja Boy, The Dream, Anthony Hamilton, T-Pain, Mary Mary, and many others.

I'm thinking this: If you want to increase sales, stop making music that people tolerate - and start making music that people will buy.

Is Your Business In High DEF?

I'm not talking about visual effects, pixels, and resolution. I'm not talking about Blu-Ray, and I'm not talking about VGA, DVI, or HDMI. In fact, I'm not even referring to plasma or LCD TVs at all.

I'm talking about D.E.F. (Demand, Efficiency, and Frequency). Your business should always be in high demand, operating with high efficiency, and involved in a high frequency marketing program.

Here are some tips:

D = Demand: To increase the demand for your company, your services and products should be designed to solve people's problems. Come up with ways to make people feel that they need you and can not operate without you. Create a buzz, and learn how to keep people talking. Remember that up to 80% of your business will come from word-of-mouth referrals.

E = Efficiency: To increase the efficiency of your company, you must learn to be effective without wasting time or effort or money. Especially during a recession, you want to make sure that all of your company's energy is being spent in a valuable way. Find out what is working, and step it up. Find out what is not working, and stop doing it.

F = Frequency: To increase the frequency of your company, you must launch a regular and consistent marketing program. I strongly recommend that you engage in some type of marketing every single day. The more frequently people see your company, the more likely they are to buy in to your services.

Download My New E-Book "500 Black Business Secrets"

I've finally finished my new e-book whereas I reveal everything I know about business - all my secrets. Most of you know that I've been in business for about 10 years now, but few know that I started my company in college and since then have generated nearly $3 million in revenue.

My e-book entitled Black Business Secrets: 500 Tips, Strategies and Resources For African American Entrepreneurs documents every step that I've taken over the past decade.

In the book, I reveal secrets and tips for authors, public speakers, bloggers, local businesses, national businesses, and more.

Topics covered include:

Marketing Secrets, Resourceful People To Know, Customers Service Ideas, Best Conferences To Attend, Twitter Tips, Search Engine Optimization, Web Site Tips, Sales Tools, Networking Tips, Press Release Tips, Hiring Tips, Booth/Exhibit Tips, Negotiating Tips, Best Mobile Apps For Business, Best Organizations To Join, Best Books To Read, Best Blogs To Subscribe To...and my personal favorite - Free Stuff For Your Business.

The book is 123-pages long, but its an easy read - and is available for immediate download.

For more details, visit:
www.500BlackBusinessSecrets.com

Flex Your Brain Muscles For Better Business Results

Research shows that flexing your brain muscles can help you think faster and smarter, and can even delay the loss of memory as you get older. These are things that can benefit you as an entrepreneur in more ways than one.

You'll be able to out think your competition, come up with more creative ideas, increase your speed reaction time, defuse stress, and better recall tips and strategies that you read about or heard about.

Here are just a few ways to flex your brain muscles:

1) Learn how to say your ABC's backwards. This will not only help you with your memory, but it will train your brain to be more flexible. It can even raise your self-esteem.

2) Start using your other hand. If you're right-handed, learn to write and eat with your left hand - and vice versa. This will you keep both sides of your brain active, which can lead to more creative and innovative thoughts.

3) Learn to skate backwards. If you like to skate, why not learn how to skate backwards? When doing so, you'll be using parts of your brain that never get used.

4) Exercise 3-5 times a week. Regularly exercising will increase blow flow throughout your body and to your brain. Running, jogging, brisk walking, lifting weights, and playing sports can all be helpful.

5) Eat brain food. Everyone knows that fish is good for your brain, but there are more. Organic eggs, fruits and vegetables, seeds and nuts, and other foods with fatty acids are all helpful with concentration and sensorimotor skills. Also, for dessert - try organic dark chocolate.

6) Take herbal supplements. Fish oil, Vitamin B-6, Vitamin B-12, lithium, and Vitamin E are natural supplements that can keep your brain strong and possibly prevent your brain from aging.

7) Download some brain challenge mobile apps. The iPhone has several applications that can help keep your brain active. My favorites are Brain Challenge, Brain Toot, and The Moron Test.

8) Use Braingle.com and BrainMetrix.com. These are two web sites that give you access to free brain teasers, riddles, trivia, exercises, games, and more.


Remember that the key to running a successful business is thinking smarter and harder. Make sure your brain is in shape to keep up!

The Rise and Fall of Vibe Magazine

Amidst all the news and commentary about Michael Jackson's death, many didn't even notice that Vibe Magazine shut down last week.

Ironically, Vibe Magazine was originally started in 1993 by Quincy Jones - who also produced Michael Jackson's biggest album "Thriller". He had since sold the company, but is now looking to buy it back.

According to Danyel Smith, editor-in-chief of Vibe magazine, "The staff was working on a tribute issue to Michael Jackson when they got the news."

For it's final six months, Vibe had a circulation of 817,825, but had a 42% decline in ad pages in the first quarter of 2009 compared to the same period in 2008 - according to the Publishers Information Bureau.

At one point, Vibe was the biggest magazine dedicated to Black music - bigger than both XXL and Source magazines. There also was a short-lived spin off publication for women called Vibe Vixen Magazine.

Sadly, Vibe is just one of many Black media outlets that have been forced to close their doors. Several local Black newspapers have also folded in the past year.

Even worse, it was just 2007 when the Black Family Channel - an up and coming television network - had to shut down as well.

Sony Walkman Vs. Apple iPod

I find it very interesting that it took Sony thirty years to sell 385 million Walkmans, but Apple has sold more than 210 million iPods worldwide in only eight years.

Not only does that mean that Apple will surpass Sony's peak in another year or so, but it also means that Sony didn't maximize on their potential. At this rate, in thirty years, Apple will have sold nearly one billion iPods.

In my opinion, the Walkman of the 80's and 90's only appealed to younger people. I think that Sony made the mistake of assuming that only teenagers would be interested, and marketing mostly to that group.

Apple, however, figured out early to make the iPod appeal to many generations. It appeals to teenagers and adults, including many seniors. This is why Apple has been able to gain so much market share in so little time.

Even more, Apple figured out how to take a consumer group and expand it. In other words, they managed to get people to buy iPods who didn't previously buy portable music players.

Now, Sony who dominated that market for 20+ years, is struggling to catch up as they attempt to introduce new lines of MP3 players.

Sadly, they will probably end up retiring the "Walkman" brand. I believe that one day they will regain a market share, but I think it will take a new brand and a new marketing strategy.

FLASHBACK: You Don't Have To Be A Pilot To Start An Airline

I wrote the following blog back in April 2008, but it thought it would be great re-post:

You may respond to this by saying "I'm not interested in starting an airline." Well, neither am I. The point of this blog is to emphasize that you do not have to possess industry skills, to start a company in the industry.

In other words, if you want to start an airline - you do not need to learn how to fly. If you want to start a software company, you don't have to be a programmer. If you want to start a catering company, you don't have to be a chef.

The only thing you need to know in these scenarios, is how to find and manage a pilot, a programmer, and a chef. And of course, it would be good to at least understand how these different industries work.

Too often though, entrepreneurs will come up with a great idea for a business, but dismiss that idea after they realize that they don't have the needed skills. Well, with the exception of certain cases like Bill Gates who was a programmer who started a software company - most scenarios are quite the opposite.

For instance, Collett E. Woolman, founder of Delta Airlines was not a pilot. Also, Pierre Bellon, founder of Sodexho (a large catering and food services company), is not a cook - and has never been one.

Broaden your sense of thinking when it comes to business. While you should pursue business endeavors that interest you, don't just stick to ideas that encompass your skill level.

Running a successful business is about management and marketing. Manage the people who have the skills, market those skills to potential customers, and go down in history as a successful businessman or businesswoman.

The Truth About LLCs

Many entrepreneurs, when first launching a company, will form an LLC. That is, a Limited Liability Company.

In theory, if a limited liability company goes out of business, then landlords and other creditors cannot come after the owners' personal assets. They can collect only from the assets of the actual company.

While this is a great protection, be careful because there are some ways to screw this up. For instance, if you sign as a personal guarantee with a landlord or creditor - then you are personally responsible for money owed, even if your company fails.

Liability protection also would not be available to you if you intentionally committed fraud or failed to deposit taxes withheld from employee wages.

According to BusinessWeek.com:

In general, having an LLC operating agreement, maintaining a separate business bank accounts, obtaining a federal employer identification number, and properly funding the LLC can all help to protect individual owners from liability. It is also always smart to have business insurance in place to protect business owners in cases like yours.

I strongly recommend that you talk with a lawyer and/or your accountant to make sure that your personal assets are protected if something ever happened.

For more information about LLCs, visit:
http://www.irs.gov/businesses/small/article/0,,id=98277,00.html

The Michael Jackson Business

Everybody knows that Michael Jackson was a legend, but here are some stats to show you that he's even bigger than you thought he was.

1) He sold more than 750 million albums worldwide, and his album Thriller continue to be the best-selling album of all time with over 109 copies worldwide.

2) He sold more than 350,000 copies of his documentary The Making of Michael Jackson's Thriller.

3) He sold more than 100 million concert tickets worldwide.

4) He sold more than 5 million copies of his autobiography Moonwalk.

5) He sold millions of action figures and toys.

Even more, USA Today reports the following stats since his death:

Amazon.com was sold out of its supply of Michael Jackson and Jackson 5 CDs and DVDs within minutes of media reports announcing his death and it then saw sales of mp3 downloads begin to spike. By late Friday afternoon, Jackson-related product sales at the company's music store accounted for 19 of the top 25 best-selling CDs; the top seven DVDs; seven of the top 10 mp3 albums; and six of the top 10 mp3 songs — roughly 60% of all music sales.

Even a collection of Jackson Five Christmas songs made the top-25 CD list, which was topped by a 25th anniversary edition of Jackson's Thriller.

Barnes and Noble's website and retail stores also reported being sold out of most Jackson products.

Jackson's music also accounted for 9 of top 10 albums on iTunes, six of its top 10 songs (led by Man in the Mirror at No. 2), and nine of its top 10 videos (led by Thriller). No Jackson music registered in the top 10 in any of those categories a week prior.

That, my friend, is the business of Michael Jackson.

2009 Black MBA Association Business Grant Competition

The National Black MBA Association (NBMBAA) and Wells Fargo have joined together to recognize and empower the visionaries that are a vital component of the Black community.

You can nominate an entrepreneur or business that demonstrates the vision, leadership, innovation and perseverance necessary to be called a 2009 NBMBAA/Wells Fargo Entrepreneur Excellence Award winner.

The two winning entrepreneurs will each receive a commemorative award, a $5,000 grant, and be honored at the 2009 National Black MBA Association Conference in New Orleans.

You can not nominate yourself, but you can get someone else to nominate you.

Here are the eligibility qualifications:

* Must be African American
* Must be at least 18 years of age
* Must have been a business owner for at least 3 years
* Must be an active principal with at 51% interest
* Must be a legal resident of the United States.

The deadline is July 3, 2009.

For more details, visit:
www.nbmbaa.org/docs/AABS_Awards_NBMBAA_Application_2009_hi-resolution_20090619.pdf

Interest-Free Loans For Small Businesses?

It may sound too good to be true, but it's actually very creditable via the U.S. Small Business Administration. The federal government is, in fact, offering interest-free loans of up to $35,000 to try to keep smaller companies from going out of business.

For businesses that need a lending hand, the SBA is offering the loans with no required payment for 18 months and no interest for more than six years.

They are called ARC loans as part of the federal stimulus package. ARC is an acronym for America's Recovery Capital. There are only 10,000 ARC loans available around the country. That breaks down to only 200 loans per state, making the process extremely competitive.

The loans are also only available to companies that made a profit at least one of the last two years - not start-ups.

The SBA says that businesses interested in the loans should act fast.

For more details, visit: www.sba.gov/recovery/arcloanprogram/index.html or www.arc-loans.com

Book Review: "Peaks and Valleys"

I recently read a great book called Peaks and Valleys by international best-selling author Spencer Johnson. Johnson is best known as the author of Who Moved My Cheese? and The One Minute Manager - which are also great books to read.

This book, while not his best work, is still worth reading. It's essentially a fictional story about an unsatisfied young man who lives in the valley who meets a very satisfied old man who lives on the peak. Through principles and practical advice, the old man helps the young man adjust his thinking - convincing him that he too can live on the peak.

I like the book because it's short and to-the-point, but also because it easily allows you to apply the principles to your own personal situation. Johnson is a genius at telling a story in a way that makes you think about YOU.

My favorite part of the book is when the old man is helping the young man to see that life is naturally full of ups and downs for everyone. The old man explains that every valley is between peaks - meaning that when you are in a valley, you just came from a peak and are headed to another one.

The key, he says, is to adjust your attitude and change your way of thinking. He also says that by carefully managing resources and having a giving spirit - one can maximize their time on a peak, and minimize their time in a valley.

I highly recommend that you read this book. It's perfect for entrepreneurs who may be experiencing a slow down in business.

The book is available for 10% off at http://tinyurl.com/n5lx7s

Did You Get Your Facebook Username?

I'm not a big fan of using Facebook for business purposes, but a lot of people do this and I've heard some pretty good success stories. If you do use Facebook to grow your business, you may as well maximize on it.

They have a new feature that allows you to personalize your Facebook URL (web address) by selecting a unique username. It will appear in the location bar of your browser after "http://www.facebook.com/" when you view your profile.

For instance, my personalized URL is www.Facebook.com/DanteLee

Since so many people use Facebook, this is a really neat feature because it makes it very easy for people to find you. In addition, over time your page will start to show up in search engine results whenever people "google" you.

Don't procrastinate though because if someone takes the username you wanted, there's nothing you can do about it. If this happens though, consider other options. For instance, I could have also registered Facebook.com/LeeDante or Facebook.com/Dante.Lee or even Facebook.com/DanteMLee. Which ever one you go with, just remember that you can not change it later - so get it right the first time around.

Also, don't even think about name squatting - that is, trying to capitalize on someone else's name. Facebook reserves the right to remove and/or reclaim any username at any time for any reason.

To choose and activate your username, visit: www.facebook.com/username

Are You Twellowing and TweetBeeping?

I blogged several months ago about why all entrepreneurs should be using Twitter.com - an extremely popular web-based micro-blogging tool. Hopefully, you listened because Twitter has been growing exponentially and still remains to be a very useful way of getting and retaining new clients. It's also a great way to stay in-the-know.

To enhance your Twitter experience, there's a site called Twellow.com that helps you easily find relevant people to follow on Twitter. Essentially, it's a Yellow Book directory for Twitter profiles and it's much more extensive than the search feature on Twitter's web site.

I use this site all the time to find people who are connected to the industry that I work in. For instance, relevant keywords for me are "supplier diversity", "minority business", "diversity recruiting", etc. When I find people, I start following them and interacting with them - and eventually, they'll inquire about my services.

I also recommend that you use another site called TweetBeep.com that allows you to get email alerts when ever someone twitters about you or your company. You can also specify other keywords that may be of interest to you.

Never Too Late to Be An Entrepreneur

I was recently reading an article on BusinessWeek.com, and found it very interesting that there are of tons of "older" people who are entrepreneurs.

According to economists and small business observers, the number of individuals starting their own companies during what is usually considered the "retirement years" has been rising.

According to the nonprofit AARP Public Policy Institute, in 2008, 21% of the self-employed were between 55 and 64, while 10% were 65 and older.

A 2005 study by the Center on Aging & Work/Workplace Flexibility at Boston College found that workers 50 and older are more likely than younger folks to own their own businesses.

This should be very motivational for those who are of age. Whether you're approaching 40, 50, 60, or 70 - it's never too late to pull up a chair to the table of business. It's wide open to anyone who has a passion for their ideas.

A thousand mile journey starts with the first step.

First Black Woman To Head Fortune 500 Company

When Anne Mulchay steps down as CEO of the Xerox Corporation, a black woman will head a Fortune 500 company for the first time. The company released a statement stating that Xerox Corporation President Ursula Burns will be replacing Anne Mulcahy effective July 1.

Ms. Burns, who has been with Xerox since 1980, started with the firm as a summer intern focusing on mechanical engineering. She was named president of the company in 2007 and has been instrumental in helping to revive the company’s financial health after shares plummeted 80 percent in 2000.

Ms. Burns will also join the list of four other black CEOs and 15 other women CEOs of a Fortune 500 company. She is widely credited with helping turn around the company after it came close to bankruptcy.

Ms. Burns has played a pivotal role at Xerox in recent years: overseeing corporate strategy, global accounts, IT and human resources. She has been at Ms. Mulcahy’s side during her efforts to revitalize Xerox. Ms. Burns is credited with negotiating with the company’s unions to cut thousands of jobs.

Xerox’s share price is still low, but the company is profitable again and has gained market share. Ms. Burns talked about the company’s turnaround at Oregon State University in September.

“We are poised for greatness and for success. We have pulled ourselves back from the brink of bankruptcy and taught ourselves that we can do just about anything we aspire to do, if we work hard and put our head down.”

Ms. Burns, 50, grew up in a New York City housing project and went on to get a master’s degree in engineering at Columbia University. She started at Xerox as a summer intern in 1980.

Don't Oversimplify Business

Business is simple, but don't oversimplify it.

Whether you're planning to launch a company or already running one, always remember that it takes hard work and smart thinking to stay afloat.

Often I hear people say "all you have to do is...", but this is the wrong way to start a sentence when referencing how to build or manage a company. It's not about one or two steps, or some type of overnight solution. It's about patience and long-term diligence. It's about strategizing and blueprinting, and properly managing your resources.

Business is only simple in the sense that it can be defined in one statement: the exchange of currency for products and services.

However, business involves many components. There's advertising, public relations, sales, logistics, accounting, management, human resources, law, and more - and staying on top of all of these doesn't always ensure profitability.

Don't be mistaken: Simplicity does not mean that it's super easy.

Recession Strategy: Speak Your Mind

People are always hungry for valuable information from a respectable voice. This is where YOU come in to play. You're an expert, a guru, a genius - and people are just waiting to hear what your opinions, thoughts, and ideas are.

The best way to meet their demands is to write relevant columns and distribute them to the media.

For instance, if you're a business coach - write about how the economy is affecting small businesses and what your solution to the problem is. If you're a health practitioner, write about your solution to a current health issue - such as the spread of Swine Flu. If you're a technologist, write about the latest technological development and why you think it's huge. If you just authored a book about love and relationships, write about...well, love and relationships.

How does this help you? Well, many newspapers and magazines will print your columns for free, and many radio stations will want you to come on-air to further discuss the topic. This, my friend, is free advertising for you. Essentially, by doing this, you're drawing attention to yourself and to your company.

Remember though to avoid self-promoting techniques within the body of the column. This will be deemed very unprofessional. You want to remain unbiased, and only want to mention your company, services, and contact info briefly at the very bottom of your column in your tag line.

When finished writing your column, forward it to all your colleagues and ask them to forward it to all their colleagues. Also, consider distributing it through newswire services such as BlackPR.com or PRweb.com.

If done correctly, writing good columns regularly (weekly or monthly) will lead to more publicity for your business - and thus, more revenue.

Bill Gates Vs. Nintendo Wii

Microsoft is planning to release a camera accessory for the XBox 360 that will create an experience similar to that of the Nintendo Wii. It's called "Project Everyone" and it lets players use a wider range of movements, as well as voice commands, while they play games. According to BusinessWeek, users will be able to play games without even having to touch a controller.

In demos, Microsoft showed the camera using face recognition software to detect individual players and voice commands to launch programs. In one game, players could use any part of their body to smack a ball into a wall of collapsible blocks.

This is their attempt to compete with Nintendo, who to-date has sold more than 50 million Wii units - almost double the amount of XBox 360 units sold.

Ironically, Nintendo must have already been on to this type of technology because they too are planning to release Wii Motion Plus technology, which it says more accurately captures complex motion such as the twirling of a wrist during a tennis match.

Whether or not Microsoft can compete, only time will tell - but they do have a lot of catching up to do. Nintendo practically owns the motion-detecting video game industry, much like Apple owns the MP3 industry.

Interesting though, how our country is in a recession with thousands of jobs being lost every week - but the video game industry is alive and kicking.