14 Ways to Save Money When Starting or Growing a Business

1. Mentors and Advisors

Instead of paying for advice on legal, accounting, funding or other key business issues, use your brain trust of mentors and advisors as much as you can for advice, feedback, and meeting other important contacts.

2. Free Consulting Services

Organizations like SCORE and your local Small Business Development Center (SBDC) offer free consulting and training. SCORE has more than 300 chapters in the United States, and everyone who calls gets an appointment. There are nearly 1,000 SBDCs in the United States that offer free consulting and educational services.

3. Barter or Trade

Bartering -- swapping one thing for another -- has been an effective way of doing business for centuries. In recent years, bartering has evolved into a sound strategy for finding goods, trading services, conserving cash, moving inventory, and locating excess production capacity. The International Reciprocal Trade Association (IRTA) helps match up companies interested in bartering for goods and services.

4. Nonmonetary Incentives

Members of your team will often work for equity or deferred payments rather than initial salaries. This will help you keep costs down during the launch and early growth stages of your business.

5. Supplier Partnerships

The right suppliers can save you a great deal of time and money: They can provide high-quality materials, help with product development, offer on-time delivery, and allow extended payment terms. Obtaining 30 to 90 days of trade credit is the best business loan you can get.

6. Customer Partnerships

Partnering with customers during your launch is an excellent cost-saving strategy. Select a few key customers, and offer them deals they cannot refuse: discounted pricing, special packaging, strong support, etc. In exchange for these deals, ask for long-term commitments to purchase your products. And whenever possible, get customers to pay early -- ideally, even before you deliver their products or services.

7. Outsourcing

Outsourcing is a multibillion-dollar industry. You can find outsource partners to provide just about any product or service you need. Outsourcing turns what would normally be a fixed cost into a variable cost because you only use the service when you need it.

8. Distributors, Reps, and Affiliate Partners

Most industries have distributors, manufacturers’ representatives, and affiliate partners who will sell your products through their existing distribution channels, which can be extensive. This is a great way to build sales quickly and conserve cash because you don’t pay the partner until your products are sold.

9. Commissioned Sales Force

Use a commission sales program when you’re ready to hire team members to sell. This will attract people who really believe in you, your products, and your purpose. It also conserves cash by keeping your fixed costs low.

10. Work Virtually

In this new age of technology, it’s possible to work from just about anywhere: from home, in your car, at the airport, or in a hotel room. By working virtually -- and allowing your employees to do the same -- it’s not necessary to take on the expense of establishing an office when you’re launching your business.

11. Borrow, Rent, Buy Used

Find ways to use other people’s resources in addition to your own. Whenever possible, borrow rather than rent; rent rather than buy; and buy used rather than new. Some industries have excellent equipment available for a dime on the dollar. Also, go to bankruptcy sales and auctions to see if you can find what you need.

12. Use Free Software

Free and inexpensive software is plentiful online. Various available programs can help you manage your finances, plan your projects, track your customers, and much more. You can also take advantage of free trial periods for most business software. This gives you a chance to use the application for free for 30 days or more to determine if you really need it.

13. Minimize Your Expenses

Keep your personal expenses to a minimum when launching your new venture. This isn’t the time to buy a new house or a new car or take on personal debt. The longer you can live with minimal expenses, the better off you’ll be. Likewise, don’t take on any ongoing business expenses unless they’re absolutely necessary.

14. Sell, Sell, Sell

In startup companies everyone is in sales. All your team members need to talk about your company, promote your products, and assume responsibility for producing revenue. Remember, low costs and early cash flow are critical to success.

Kheir Maxwell Executive Promotion!!!

(Pictured: Kheir Maxwell; ETL)

Modern Marketing Detroit would like to announce a promotion that has been truly earned to Kheir Maxwell! Mr. Maxwell is now an Executive Team Lead here at Modern Marketing and at just age 19, he has accomplished so many promotion here with us! He was born and raised in the hearts here of Detroit, Michigan while enjoying his favorite hobby of basketball. Mr. Maxwell continues his college education majoring in mechanical engineering on a basketball scholarship while being his own entrepreneur here at our company. This young gentlemen definitely has extraordinary drive and the mindset of "You can never be too young to be successful." 

Mr. Maxwell wants to prove that you can be successful if you stay humble and open-minded throughout your life, because there will always be bumps and bruises down the road of gaining experiences. But that's what makes an entrepreneur and an employee different, because and entrepreneur continues to stay motivated and dedicated throughout all of the tough times. They understand the purpose of the set backs to get to their dreams and goals that they continue to work so hard for. At the end, he understands that you learn to not make those same mistakes as well as anyone can accomplish the same goals as him, because "We all breath the same way, tie our shoes the same way, eat the same way, and walk the same way."

Monday Morning Habits Of Highly Successful People

They Wake Up Early – Set Your Alarm For 5am

They wake up early to make sure that they have plenty of time to complete all of their tasks. Waking up early also ensures that they are not late for any of their scheduled events and they have plenty of time to take care of their personal chores prior to jumping into their work load.

In an interview with Oprah, Michelle Obama shared that she wakes up early to take care of herself before her day starts. “Well, I just started thinking, if I had to get up and go to work, I’d get up and go to work. If I had to get up to take care of my kids, I’d get up and do that. But when it comes to yourself, then suddenly, ‘Oh, I can’t get up at 4:30.’ So I had to change that.”

We are only allotted so much time in each day; sleeping the day away diminishes the chances of success.

They Meditate – Start With Just 5 Minutes

Monday morning meditation or prayer are great tools to envision success. It’s important to quiet the mind and let the positive energy in as soon as you wake up. If you start with meditating for 5 minutes and over time increase it to half an hour per session.

Such practices can also answer unanswered questions and lead the way to success.

Oprah meditates two times per day for 20 minutes, and she states, “I walked away feeling fuller than when I’d come in. Full of hope, a sense of contentment, and deep joy. Knowing for sure that even in the daily craziness that bombards us from every direction, there is — still — the constancy of stillness. Only from that space can you create your best work and your best life.” (HuffingtonPost)

Concentrating on silence and your heart beat is one way to do a meditation. Another way is to do a guided meditation. There are plenty of free guided meditation videos on YouTube that you can pull up. They range from positive energy meditation, to prosperity meditation, to weight loss meditation. Read 10 Steps to Meditate Anywhere to learn more about meditation.

They Get Motivated – Personal Development Is Key

Highly successful people get motivated first thing on Monday morning. They read personal development books, watch inspirational videos, listen to motivational speakers. Even 15 minutes of inspirational content on Monday morning can set up your day and your week for success. Check out Tony Robbins’ free motivational speech about a Power Hour.

Tony suggests the Power Hour to highly successful people such as Fortune 500 CEOs, legends in entertainment, and even athletes, including Chuck Liddell. (TonyRobbins)

Some of the books you may want to check out: 

• Infinite Self by Stuart Wilde
• The Power Of Now by Eckhart Tolle
• Awaken The Giant Within by Anthony Robbins
• Manifesting Change by Mike Dooley
• The Success Principles by Jack Canfield
• You Are A Badass by Jen Sincero
• The Secret by Rhonda Byrne

They Fuel Their Body – Food Is Energy

It’s imperative that your body is fueled with nutritious foods first thing in the morning. Healthy food provides energy and gets the mind and body ready for the day. According to Business Insider, Richard Branson eats a fruit salad and muesli (a mix of rolled oats, fruits, nuts, seeds, and milk) in the morning.

Some ideas for a healthy breakfast: 

• 1 egg, 2 servings of egg whites, orange juice and a flax seed bread toast
• Protein smoothie/shake
• Fruit and greek yogurt parfait
• Peanut butter and banana sandwich
• Quinoa and fruit bowl
• Apple slices dipped in peanut butter

They Get Active – No You Don’t Need A Gym Membership

Highly Successful people know that getting the body active is imperative on Monday mornings and throughout the week. Exercise helps the body wake up and oxygenate; by doing so, all of the cells become active and ready for the day.

Exercise is known not only to positively affect the physical body, but it also to keep the mind sharp.  Barack Obama shared with WebMD, “The rest of my time will be more productive if you give me my workout time.”

If you don’t have a gym membership or don’t own any workout equipment, no problem. All you need is your body and some space to do bodyweight exercises. With the right  type of exercises, all you need is just 20 minutes for a good workout in the morning.

Performing high intensity exercises such as burpees, squat jumps, lunge jumps, and lateral jumps target multiple body areas at the same time.

Here’s an example of a 20 minute body weight exercise:

20 Minute AMRAP (as many round as possible) – Set your timer for 20 minutes and take about 30 second break between each exercise.

1. 10 Burpees
2. 10 Pushups
3. 10 Jumps Squats
4. 10 Chair Dips
5. 10 Lateral Jumps
6. 10 Wide push ups

They Connect With Their Team Face To Face

A lot of business decisions take place over email or other types of technology. Highly successful people connect with their teams face to face.

Steve Jobs used to have Monday morning meetings and believed that “in this digital age, when we think we can do things by email and Skype and online chats, it’s really important to bump into people face to face, to hash things out, to look them in the eye, to yell at them and scream at them, and then to hug them and to know emotionally what they’re thinking.”

They Only Tend To Urgent E-mails

Most email accounts are bursting with emails on Monday mornings. Highly successful people have a way to tend just to urgent emails in the morning.

Going through a long list of random emails can waste a lot of time first thing in the morning. Tumblr’s David Karp shares, “I used to suck at e-mail. I’d let e-mails pile up, get overwhelmed, and miss important messages; or forget to reply. So I set up filters on my e-mail, and that’s been working pretty well. Now, my inbox gets e-mails only from people in my company and from my girlfriend.” (Inc.com)

You can set up filters in your email account just like David Karp did. Alternatively, you can get an email app for your smart phone. Apps like Boxer, Dispatch, and Hop can help you to quickly go through your email box to separate urgent and non-urgent emails.

9 Super Effective Ways to Motivate Your Team

Teams are the way that most companies get important work done. When you combine the energy, knowledge, and skills of a motivated group of people, then you and your team can accomplish anything you set your minds to.

Weekdone.com recently took a look at some of the mistakes leaders make that drive away their top talent. As they suggest, "Reflect on your behavior, fix these mistakes, and get ready to boost your team performance and motivation."

Try these 9 powerful ways to keep the members of your team motivated and giving their very best on the job.

1. Pay your people what they are worth

When you set your employees' salaries, be sure that their pay is consistent with what other companies in your industry and geographic area are paying. Remember: 26 percent of engaged employees say that they would leave their current job for just a 5 percent increase in pay. Don't lose great people because you're underpaying them.

2. Provide them with a pleasant place to work

Everyone wants to work in an office environment that is clean and stimulating, and that makes them feel good instead of bad. You don't have to spend a lot of money to make an office a more pleasant place to be.

3. Offer opportunities for self-development

The members of your team will be more valuable to your organization, and to themselves, when they have opportunities to learn new skills. Provide your team with the training they need to advance in their careers and to become knowledgeable about the latest technologies and industry news.

4. Foster collaboration within the team

According to Weekdone.com, 39 percent of employees don't feel that their input is appreciated. Encourage the members of your team to fully participate by inviting their input and suggestions on how to do things better. Ask questions, listen to their answers, and, whenever possible, implement their solutions.

5. Encourage happiness

Happy employees are enthusiastic and positive members of the team, and their attitude is infectious. Keep an eye on whether or not your people are happy with their work, their employer, and you. If they're not, you can count on this unhappiness to spread.

6. Don't punish failure

We all make mistakes. It's part of being human. The key is to learn valuable lessons from those mistakes so we don't make them again. When members of your team make honest mistakes, don't punish them--instead, encourage them to try again.

7. Set clear goals

In one study, 63 percent of employees reported that they wasted time at work because they weren't aware of what work was a priority, and what wasn't. As a leader, it's your job to work with the members of your team to set clear goals. And once you do that, make sure everyone knows exactly what those goals are, what their relative priority is, and what the team's role is in reaching them.

8. Don't micromanage

No one likes a boss who is constantly looking over her shoulder and second-guessing her every decision. In fact, 38 percent of employees in one survey reported that they would rather take on unpleasant activities than sit next to a micromanaging boss. Provide your people with clear goals (see number 7, above), and then let them figure out the best way to achieve them.

9. Avoid useless meetings

Meetings can be an incredible waste of time--the average professional wastes 3.8 hours in unproductive meetings each and every week. Create an agenda for your meetings and distribute it in advance. Invite only the people who really need to attend, start the meeting on time, and then end it as quickly as you possibly can.

Getting the Week Started Right!

1. Plan your week on Sunday.

If you wait until Monday morning to plan and schedule your week, it will not take long before you find yourself engulfed in daily business "fires" and adding tasks and meetings before you even finish your planning. Instead, consider planning your week on Sunday evening, when it is quiet and you have the time and space to concentrate. You will sleep better knowing the task is done and you can devote more time to a morning routine that eases you into the week.

2. Create a morning routine.

There is plenty of evidence that shows that getting out of bed a few minutes early, rather than snoozing your way through your morning, has tremendous benefits to your mental and physical wellness. If you have a tough time in the mornings, try getting up and taking a quick and brisk walk around your block, which will get your blood flowing and tell your body and mind that it is time to wake.

3. Purge that email.

Your email box can be incredibly intimidating on Monday morning, filled with unread emails from the weekend and the previous week, all of which will immediately make you feel like you're behind. Instead of reading every old email, delete them. Start with newsletters--they are old news anyway--and then find the confidence to purge any email that was not important enough to answer immediately in the first place. Too many emails to really get through? Consider one of the many applications, such asSanebox, that can help you get your email under control.

4. Connect with a friend.

On Monday, take five or 10 minutes to call a good friend or reconnect with an old friend, one with whom you can have a non-business conversation. These conversations often offer perspective to my life and typically end in a smile--and they help two people ease into the week.

5. Take one new personal risk.

There is a great deal of benefit to writing out your goals. I like to spend five minutes each day to review my ongoing goals and priorities. On Mondays, however, I make it a point to set one new and aggressive personal goal for the week, such as trying new exercise, reading a book, or learning a new song on the guitar. The point is to provide you motivation during your busy week to pursue an interest that you enjoy outside of work.

6. Make an "appreciation list."

In addition to making out that extensive weekly to-do list, also take a minute to write down at least five things for which you are grateful. More than likely, they will be the same from week to week--your wonderful family is always a good thing to be happy about--but doing so will put life in perspective and the positive emotions you create could affect your happiness, optimism, and self-esteem.

7. Pay it forward with kindness.

Keep in mind that you are sharing this Monday with everyone on earth, so to help relieve the stress of the beginning of the week, consider an unselfish act of kindness during your morning, such as a compliment to a complete stranger or leaving a co-worker a kind note. It will make both of your days a little better.

8. Indulge in inspiration.

If your week is starting off slow, consider allowing yourself the guilty pleasure of indulging in a little inspirational content. Something a simple as an inspirational quote or a lengthier article from UpWorthy or video talk from TED Talk can give you the boost you need to get over the Monday blues.

Eric Thomas Motivation

Biography
Eric Thomas, PhD is a critically claimed author, world renowned speaker, educator, pastor and audible.com Audie Awards Finalist. He is better known, has taken the world by storm, with his creative style and high-energy messages. His words continue to impact tens of millions of people in several hundred countries across the planet!

Drawing from his own personal experiences as they relate to homelessness, the absence of his biological father, scholastic struggles, and various other obstacles allowed him to be an "open book" from which radiates dynamic and inspiring messages that relate to many people across all strata.

In 2005, Eric completed and received a Master's Degree from Michigan State University and on February 5th of 2015, Eric successfully defended his dissertation and will receive his Phd in Education Administration on May 8th, 2015, from Michigan State University.