NASE, National Association of Self Employed

Article written for National Association for Self-Employed (NASE) by Ms. Wiederkehr for Jan 2016 entry.

main_title

CARDINAL RULES FOR A SMOOTH, LEAN START-UP

As a 15 year entrepreneur, I have naturally acclimated towards fellow creative business minds. Enjoying hearing ideas of our youth and supporting educational efforts from serving as an adjunct educator at our local junior college to volunteering with junior achievement, small business has been a passion of mine. From owning and failing a small grocery business in a small town to successfully franchising a service model that truly disrupts the liquidation market, I have felt the sting of making mistakes and finding success! As an entrepreneurship author, speaking at national BPA (Business Professionals of America) and DECA (Distributive Education Clubs of America) conferences across the US, the excitement of the youth has continued to motivate me. Having a business fail drove me to write books. The first was a youth entrepreneurship book, “Cardinal Rules: Financial Resources for Young Adults”. A few years later I wrote the second book for adult use. Like myself, many adults need a second chance. Speaking in prison ministry programs, conducting my own boot camp, or assisting adult workforce development agencies were a nice fit for my work. I have been able to encourage a wise path for being both personally financially savvy and using creativity in selecting a business to start. Creativity can be taught, it can also definitely be encouraged.

MENTORING

Whether you have a close family member who owns a small business or know of someone who could help you succeed, find a mentor. Join your local chamber of commerce and instant mentors can be found. Think about your church family, neighbors too and don’t be afraid to ask professionals for help. In a sense, accountants and lawyers serve as mentors, yes for a fee as they are being paid to help guide you to success. Being a mentor to entrepreneurs who struggle allows me to give back each day. Find a mentor you can relate to who can give you the time you need to get on the right track with your new start up business. One day you will likely be a mentor in business yourself. True success comes to those who give! By Vicki Wiederkehr SelfInformed JANUARY 2016 2


Small Business Consulting

Small Business Consultant has been a title I have been given over the last several years as a result of being an author and educator in the entrepreneurship fields.  I hear about big business and my interest isn’t the same.  All large businesses started small.  Setting the foundation for a small business to grow and prosper with full commitment to the community is a strong passion of mine.

When speaking and educating, these are some of the principles of small business management that I often discuss:

*Dependence on business planning, and changing that plan

*Beginning with the end in mind, seeing an exit plan or a growth plan

*Examining your income streams

*Partnering Right

*They Why?  Why are you setting out to launch the business?

*Mentor – who can help you grow and challenge your path?

*Small Town Sexy –small town businesses can be really FUN and PROFITABLE with the powers of the internet.

*Time Management – how to take control of your time and be most effective starting a small business

*Personal Finance – Take charge of your own finances before you take on a business.

*Don’t be afraid to fail.  It often takes many failures to find your success!

*Full Disclosure.  A mindset for all companies to absorb and implement.  It keeps management and employees at ease in knowing there are no big secrets.

*Focus on relationships, not the income that may come from relationships.

*Fortune is in the replication.  Like we were taught compounding in business math in high school.  Replication is done by documenting the processes we use and finding suitable people to be a part of testing the process out one cycle at a time.

For speaking opportunities contact Vicki at 812-630-5924 or email her at vicki@cardinalsellingservices.com

Building Passion and Working from the Heart

Being entrepreneurial is an exciting way to live .. Many of you know that already, especially if you have owned or ran a business in your past. The quality of life a profitable business can bring which is focused on a passion .. such as customizing cars or motorcycles, or starting a niche chocolate business, a farmers market or even a consignment store in your town or city can bring happiness many never dream of.

My first business, a 7,000 SF grocery/convenience store – the purchase of this business made so much sense and I was financially savvy and stable. It seemed no matter how hard I fought, nothing would make this business stable. I was too green – I see that now, and it was a lot to juggle and manage. Theft was an issue among employees but also we dealt with the State of Indiana closing our road into our town, the main vein for 5 months of our best business in the fall of 2004.

Launching Your Business Lean

Starting a business in this economy can be frightening to say the least.  Risk adverse business minded professionals have idea but often stumble in the planning process.  It’s imperative to compile a business plan, and be read to change it as the months and years pass.  If you are struggling with composing your first business plan, try ‘googling’ the business you want to start and the word ‘business plan’ to find a basic starting document to mimic.  So google “basic restaurant business plan’ if you want to compose a business plan to start a restaurant.

Asset Liquidation

Business climate over the past 15 years has seen more changes than most any 40 year time period. Global business is more prevalent today for small business than ever before. There are truly less boundaries than ever before. Technology cannot be ignored nor the powers it can bring to start, grow or manage your business.

The key to growing a business today is change. Adapting to change while all associates in your organization have a direct tie to both customer service and profit is a smart plan to adopt.

Classic Cars

Passion for Selling. Passion for selling vehicles, including classic cars – is the story of how Cardinal Selling Services, LLC began. Many local people had great vehicles to sell, and the local audience of buyers in our area didn’t always offer the right potential buyers to make the sale happen. I found so many people who could sell their cars via e-commerce and often eBay but had no knowledge of the internet, much less eBay. Today, Cardinal Selling Services, LLC represents a wide variety of clientele. Many need our technical abilities, others know the web but don’t want to spend the time or don’t possess the skills to create a professional advertisement on the web.

Who are entrepreneurs?

They are the risk takers, leaders and people who often work an 80 hour work week to avoid a 40 hour week.  Not always the best achievers in high school, academically. “A” students are often managed by “B” students of which the company is owned by “C” students. Successful entrepreneurs often have a very strong work ethic as entrepreneurs often work a 60 hour week to avoid a 40 hour work week.