A.Wayne Gill to Speak at Carolinas Minority Devolpment Council

A. Wayne Gill will be speaking on March 27th at the Supplier Diversity Pro Forum in Salisbury, North Carolina.


Forum, sponsored by Food Lion, is from 8am-4pm and will cover the topic of “Maintaining a Powerful Supplier Diversity Program.”

A.Wayne Gill Moderates the Billion Dollar CEO Forum

Mr. Wayne Gill will be moderating the Billion Dollar CEO Forum at the 28th Annual Business Expo on Supplier Diversity.  The Business Expo workshops focus on how to achieve company growth, doing business with local, state and federal government, purchasing trends, growth industries and best practices in Supplier Diversity.

Workshops feature leading industry professionals of Minority Business Companies that are either doing or on the verge of doing 1 billion in annual revenues this year.  The SFMSDC also sponsors a Youth Entrepreneur Workshop designed to take the mystery out of finances and encourage young people to consider entrepreneurship.

The Top Five Minority Business Mistakes And How To Avoid Them (Part I - Continued)

Mistake Number One: Failure to Focus (Continued)

The Robert Frost poem, The Road Less Traveled says “Two roads diverged in a wood, and I – I took the one less traveled by, and that has made all the difference.” Everything changed when I stopped and assessed the roads before me. On the one hand, I could continue on the path of “networking” at multiple events and driving myself batty with little result or I could take the road less traveled – the road of reflection.

On the road of reflection, a business owner must cease from his efforts, reflect on his purpose, direction, strategies and results to see if it is working. If it is, then wonderful! That business owner should just continue to build on that solid foundation. But if not, as it was in my case, the business owner has to have the courage to make needed changes.

When I realized the dead end of involving myself in multiple organizations with little result – that is, spreading myself too thin – I made two key decisions that you should also consider. I immediately cut the ten or so organizations that I was involved in to two organizations that I would focus upon for business-building. Second, I decided that I would put in meaningful time, financial resources and service with those organizations in order to build relationships and to serve others.

Thus, I went cold-turkey on all of the evening business mixers, luncheons, match-making events and others and began to focus on the two organizations that I felt I could best build upon, substituting quantity for quality. As the quote from the Frost poem above states, this made all of the difference. In a short period of time, I had built significant relationships within each organization and I leveraged those relationships into a business that went up like a rocket.

Sometimes our business relationships are a mile wide but an inch deep. I would suggest narrowing your focus to your best prospects and deepening those relationships. A few quality relationships will yield a much greater harvest than several superficial ones. Ultimately, you are the benefactor of this strategy on many levels.

You will develop business relationships that last a lifetime – the kind that keeps on giving – year in and year out. You will cut down on your “busy time” and increase your quality time; and you will develop actual business much faster because you will build rapport and trust with your targets. People like to do business with people they know and trust.

Perhaps you are making Mistake Number one right now. You are spread too thin, looking for leads and business in too many places. This may be your time to stop and assess your business and your strategy. If you have fallen victim to this deadly mistake, then you can reverse your direction right now. Take a few hours aside and think this through. It will make all the difference!

Top Five Minority Business Mistakes (And How to Avoid Them) Part I

Hello Friends: It's been a while. I'm glad to back after a long hiatus. What is amazing is that many of you have found the information in this Blog really helpful as we receive constant feedback and our analytics tells us that you are making use of our pages. I thought I'd resume the dialogue with an excerpt from one of your favorite pieces: The Top Five Minority Business Mistakes And How To Avoid Them.

Just avoiding one of these mistakes can make a world of difference in your business. For example, many years ago I decided that I would stop making Mistake Number One below, and that sole decision transformed my business. The current national business environment is challenging and that creates pressure to push harder, sometimes spinning your wheels in order to make something happen. A wiser approach is to slow down and think clearly through your business and objectives. Once you’ve given it some thought and created a plan of action, it is time to execute!

Mistake Number One - Failure to Focus

In 1997 I started a solo legal practice. Going against conventional wisdom, I started my firm with no capital, partners or resources. I literally had a rolodex of a few colleagues, a dream and a lot of faith. The business gurus will tell you this is not the recommended approach and, in a perfect world, starting a business on those terms is not advisable. However, we all know that life rarely hands you the luxury of perfect timing or resources. Sometimes you have to just grab the ball and run with it and that is what I did.

Ralph Waldo Emerson said, “Once you make a decision, the universe conspires to make it happen,” and that’s exactly what happened in my case. Once I grabbed the ball and started running, I was able to obtain client referrals, an office to work out of and even an assistant to help me get started. Within three years I went from an initial retainer of $250 dollars on my first case, to over one million dollars in annual revenue. In that roughly three year period I learned numerous lessons that serve me to this day and will serve your business as well, if acted upon. That is the great thing about principles – they work the same way all of the time and they have predictable results. What worked for me will work for you – principles are no respecter of persons.

In the early part of my venture I didn’t know very much about timeless principles. I simply got out my rolodex and started to “hustle” – to call upon everyone I knew to let them know I was open for business. I also began to join networking groups, trade associations, lawyer groups, small business groups, trade-fairs, multiple chambers of commerce, multiple professional connection groups and the like – if there was an event, I was there with business cards in hand. Within a few months I realized that I was wearing myself out!

On top of that, I became aware that I was obtaining mixed results from all of the associations and events that I was attending or participating in. Particularly because I am a lawyer, many small businesses wanted free or very close to free advice and several groups wanted my involvement on committees or other time commitments from me with little return on investment. I further discovered that from a business-building standpoint, even the legal trade associations were a waste of time because who attended those meetings? You guessed it – other lawyers! Thus, I would always be just one of several other similarly situated professionals in the room and that was getting me nowhere very fast.

When this reality came home to me, I admit that I was tempted to “keep plugging away” hoping that if I just kept networking, eventually being involved in all of these groups and associations would somehow pay off – one day my ship would come in. There is something about the human mind – once you’ve mentally committed to a course of action, your tendency is to cling to that course even if it clearly fails to yield results. It is somehow difficult to put down even a failing strategy and to move in a different direction. Yet this is exactly what you must do (and often) to succeed in business – there are no sacred cows. You have to discern when a strategy is not working and then to go about making the needed changes.

Find out the changes I made and how those changes positively affected my business in "Top Five Minority Business Mistakes (And How to Avoid Them) Part II," coming soon!

Best regards, Coach

Despite Recession, U.S. Entrepreneurial Activity Rises in 2009 to Highest Rate in 14 Years, Kauffman Study Shows

Hey Friends: Take a look at this new study by the Kauffman Foundation for entrepreneurial studies. The study shows that business start-ups among African Americans are significantly on the rise. There is some thought out there that the gains are, in part, "involuntary" because it's a reaction to the Great Recession experienced by our nation and not borne out of proactive choices. There may be some truth to that, but I believe that taking control of your destiny by starting a business is one of most positive steps you can take and it is a proven avenue of wealth creation - something desperately needed in the African American community. Thus, I applaud the rise of start up businesses in the Black community and will continue to educate, inform and mentor as many as possible so that together, we can build prosperity for generations to come. Click on the link below to access the report:

Despite Recession, U.S. Entrepreneurial Activity Rises in 2009 to Highest Rate in 14 Years, Kauffman Study Shows

Greater Miami NIGP Conference

Hey Friends: Below please find some information on an upcoming National Institute of Government Purchasing ("NIGP") Conference for the Miami area. This will be of interest to you if you are interested in doing business with the public sector.

GREATER MIAMI CHAPTER OF NIGP
REVERSE TRADE SHOW AND GOLF TOURNAMENT

The Agencies who will be attending the Greater Miami Chapter of NIGP’s 2nd Annual Reverse Trade Show and Golf Tournament are the decision makers for over $13 Billion worth of annual procurements. Do you really want to miss the opportunity to network with these procurement professionals?

This is the perfect opportunity to enhance your market position with representatives from governmental purchasing agencies throughout South Florida. Some of the agencies attending represent Miami-Dade County, City of Miami, City of Miami Beach, Miami-Dade Public Schools, Miami-Dade College, City of Coral Gables, Broward County Sheriff’s Office, Broward County Aviation, and the City of Ft. Lauderdale AND over $13 Billion in purchasing power.

REVERSE TRADE SHOW:

DATE: Friday, June 25, 2010
WHERE: City of North Miami Beach, 17011 NE 19 Avenue, NMB FL, 33162
TIME: Morning Session 9 am - 11:30 am

(or)

Afternoon Session 1:30 pm – 4 pm
NOTE: Attendance is limited to only one session.
COST: $125.00/participant (After June 1, 2010 - $150.00)

SPECIAL CLASSES FOR VENDORS ONLY:

"How to Quote, Bid and Win Contracts - A VIEW FROM THE INSIDE"
This class is presented by the Florida Atlantic University, Public Procurement Research Center and will show you how to do business with governmental agencies and successfully navigate through the bid process. The class is available during both morning and afternoon sessions, so if you're planning to attend the Reverse Trade Show in the morning, stay for the afternoon class, and vice-versa.

COST: Special ½ price for Reverse Trade Show Participants – Only $125.00/participant

GOLF TOURNAMENT:

DATE: Saturday, June 26, 2010
WHERE: Normandy Shores Golf Club, 2401 Biarritz Drive, Miami Beach, FL.
TIME: Registration: 7:00am
Shotgun Start: 8:00am
Awards and Luncheon: 1:00pm

COST: Please go to www.nigpmiami.org for golf fees and sponsorship opportunities

A portion of the proceeds from the golf tournament will go to the City of North Miami Beach “Camp for Kids” program. Camp No-Mi-Be is a full-day summer camp experience in which each camper participates in a variety of activities including arts and crafts, music, drama, sports, games, field trips, swimming and special events. Donated funds will send many children in need to an eight week program and pay for activities of many others.

Register today!

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Mistake Number 3 - Failure to Set Realistic Expectations

Hey team: Please enjoy this outtake from "The Top Five Minority Business Mistakes and How to Avoid Them" which I've been offering as a FREE resource when you join my mailing list on my Minority Business Coach Fan Page on Facebook. Just sign up and I'll send you the full report. Knowledge is learning from your mistakes. Wisdom is learning from other people's mistakes. So be wise and grab your copy today on Facebook - Minority Business Coach. Now read on:

One of the biggest mistakes made by small and minority businesses is failing to set realistic expectations about attracting large corporations as clients. I have been in minority business development circles for many years. There is a consistent complaint from some minority businesses that the system is broke and that it's virtually impossible to get business from large corporations.

First, it is a spiritual principle that you will have what you say – or what you expect. Thus, if you say getting business is impossible then it is – you will receive according to your belief. But that is a topic for another publication. On a business level, I would like to set a few things straight. It is true that our nation has a long way to go for minority businesses to get their fair share of the national business opportunity pie. There is no doubt that it is becoming increasingly harder for small and minority businesses to compete. The frustration felt by many small businesses is real.

Nevertheless, there are strategies that have worked for the minority businesses that are winning this battle and they will work for your business as well. As difficult as the road to obtaining that large contract may seem, there is a pathway and you can learn how to access it. However, as suggested above, much of this begins in your mind. Armed with the correct outlook, you will position yourself for success and it will eventually come to you.

First, I would encourage small and minority businesses to take the long view on obtaining corporate business. Small businesses often overlook medium sized companies and even fellow small and minority businesses in order to camp out at the corporate tent. In my experience, it is much easier to attract several small or medium-sized clients than one corporate giant.

Minority businesses should continue to knock at the corporate door, but simultaneously, they should act as if they will never receive a corporate contract and focus their energies on more accessible targets. This is a matter of placing a positive spin on the theory of cognitive dissonance – keeping two seemingly different ideas in mind. On the one hand, you continue to work for that corporate contract. But on the other, you work as if you will never receive one and develop your business, in spite of, corporate contracts.

This serves many purposes. When the time arrives for you to receive that large corporate contract, you would have been well-prepared to handle the business having taken the time to build out your infrastructure and services with smaller clients. Second, big corporations want to do business with companies with a track record. The long view will allow you to develop experience, references and capacity. You will also develop self-confidence and grit along the way.

This was true of my business. It took me about one year to develop my first large, corporate client and that was miraculously quick! But before I developed that client, I built a sustainable business on several small and mid-sized companies. Having a well-run business in place, I could then play the waiting game of developing the larger clients. Once I obtained the first corporate client, their credibility and endorsement of my services enabled me to win many more. Today my firm services many world-class corporations.

Note however, that the first client and the first endorsement came because of outstanding service delivery and results. Assuming that you can deliver on that in your area of business, then you can have those corporate clients in due time. Along the way, develop your business, expertise and testimonials and be ready for the big break. Your realistic expectations will make you a better business person. It will keep you hungry, yet never despairing - not having obtained, but always learning; always sharpening your saw.

In truth, the worst thing that could happen is obtaining a corporate contract but not being ready for it. If you blow that opportunity it could be a long time in getting another – word travels somehow. I’ve seen very tiny minority companies attempting to do business with gigantic, global conglomerates. Not that this is impossible. Remember how I began this article – anything is possible. Also, by following the advice given in the full-blown Special Report from which this piece is excerpted, it is quite likely that even a micro firm can do business with a giant. I did it when my business was small and so can you.

The point is that in some instances, small business owners are unrealistic about the needs of the conglomerate that it can really solve and its own capacity to meet that company’s global demands. These are obstacles that minority businesses have to realistically face with real solutions, like filling a niche market or by teaming up with another small company to build capacity. The problem is that some minority businesses fail to adopt these strategies and in so doing, they fail to meet their goals and repeat a cycle of frustration.

Thus, my advice to minority businesses is: (1) Build your business in spite of large companies (2) Prepare while you wait for the large contract (3) Adopt the long view on your hopes of doing business with large corporations (4) Be ready to ACT when opportunity comes knocking (which it will, eventually) and finally (5) Keep a positive outlook! Your break is around the bend. Never give up. In the words of Sir Winston Churchill, "Never, never, never, never."

Your friend, The Coach



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