It's Official: I've Opened An Office in The Philippines

I'm proud to announce that I have officially gone global! I have opened an office in downtown Manila, Philippines - the country's capital - for my newly formed subsidiary, Dante Lee International (DLI), which will house my newly acquired web property - Tagalog.com. I'm planning to re-launch the site as an online dictionary, thesaurus, encyclopedia, and resource guide.

There are many dialects in the Philippines, but Tagalog is the official language spoken by over 100 million Filipinos worldwide. My goal is for the site to be the ultimate resource for everything pertaining to the Philippines - how to speak the national language, how to travel there, what attractions to see, where to stay, where to shop, how to interact with the people, etc.

VIDEO: Angela and Vanessa Simmons Talk Pastry Business

Despite having a little bit of star power and the help of their Uncle Russell, Angela and Vanessa Simmons should still be fully credited for the huge success of their Pastry shoe company. Launched in 2007, their shoes already have distribution in over 15 countries and are generating millions in annual revenue.

The unique assortment targets junior girls and ranges from athletic, dress, and children’s footwear to apparel and accessories. They're even planning to launch a line of Barbie dolls. Using the theme of "self-expression", their ideas have turned out to be pure genius concepts.

5 Reasons Why You Aren't Making Any Money

You are not running a business, unless you are actually making money. That money doesn't necessarily have to be all profits, but there should be some type of ongoing cash flow - even if you're just breaking even. Business means commerce, and commerce means the exchange of money for services and products.

Sadly, many minority-owned businesses just aren't producing revenue like they should. Some will open their doors for business and close just a year later - having never made a dime. In rare cases, it can be for legit reasons. But most of the time, if your business is not making money - it's because of one or more of the following five reasons:

Are You A Public Figure?

You don't have to be a celebrity or a politician to be a public figure,
and you don't have to be rich. You just have to be well-known and well-
respected locally and/or nationally. People simply have to recognize
and appreciate what you do.

Every entrepreneur and business owner should strive to be a public
figure for one simple reason: it will help you grow your business!
Huge opportunities can present themselves, such as speaking engagements, event hosting, panel interviews, media interviews, book deals, business contracts, and more.

Think about it. America is a country that gives a lot of attention to people of prominence. The most popular magazines and television shows are the ones that report on what important people are doing. So if you are a big name in your industry or town or country, imagine what that means for you.

You're the person everybody's talking and thinking about. When a relevant opportunity presents itself, your name will come up first. Corporations and government agencies will automatically be programmed to consider you and your company for contracts, the media will automatically go to you for relevant comments and interviews, and customers will automatically take their business to you because "you're the expert."

The key is to excel in your expertise area, and to regularly do things that will get you noticed. Obvious things include: writing columns, sending press releases, starting a blog, writing a book, giving away a free e-book, etc.

But there's more: You can also sit on boards, be active in professional organizations, attend/host networking functions, volunteer for charity functions, support community initiatives, and even stand up for public injustices.

Learn from the public figures that you admire. They didn't get there by accident; they made wise and conscious decisions that created their success. Watch them and emulate their moves. This is very pivotal to
the growth of your business!

Bigger Is Not Always Better

Many believe that a company's level of success is based entirely on it's size. This is not always true. Having more employees and large office space doesn't necessarily give you an advantage.

A small company with just one or two employees and no office space can easily be more profitable and can compete with, and often outmaneuver, a bigger company. Even more, a small company can be more simpler and less stressful to manage.

In the age of the dot com, it is very common for successful businesses to be run by one or two people who work at home. These types of businesses can typically generate anywhere from $30,000 - $1,000,000+ a year.

Very different from 10-20 years ago, you don't have to have a storefront to build a business and you don't necessarily need office space. It can all be done virtually.

I know people (Americans) that live overseas and run their businesses online - with all of their customers being in the United States. Not only do they not have to deal with their customers face-to-face, but they don't even have to be on the same continent.

So as you formulate (or reformulate) your business ideas, think big - but also think small. Keep your overhead low. Being able to afford office space, doesn't mean you have to buy into it. And the same goes for multiple employees.

Be determined to run your business in the most simple cost-effective way possible, and whenever possible - keep the size of your company to a minimum.

Optimistic People Live Longer Than Pessimistic People

Chances are that 2009 was not a very good business year for you. Likely you were amongst the thousands of companies that folded, or the millions that downsized to cut expenses.

Despite this, you have every reason to be optimistic about 2010. Why? Because life is full of peaks and valleys. When you're in a valley, there's a peak just ahead.

If you believe that things will improve, they will - as long as you continue to work hard to make it happen.

The reason why optimistic people live longer than pessimistic people is because optimistic people keep themselves alive. When faced with challenges, they not only think positive - but they act in harmony with it. Instead of giving up, they keep at it - and eventually they begin to see progress which motivates them to press on.

Pessimistic people, on the contrary, worry themselves into the grave. Their negative energy and lack of hope buries them fast. They develop health problems, low self-esteem, and before you know it - they've lost all their motivation. Recovery never happens because there is no environment for it.

No matter what happened this year, next year is a fresh start. 2009 was the year of the swine, but 2010 is the year of the grin.

So pick up your swagger, and make it happen.

Can Your Business Be Easily Duplicated?

Running a business that can be easily duplicated is dangerous. A competitor with more resources can come along, copy what you're doing, and then put you out of business. It happens all the time, and it's perfectly legal.

So what's the solution?

Well, unfortunately you can't just patent everything to protect yourself. The real solution is to lock it down. For instance, Wal-Mart does nothing more than buy items in bulk and sell them to customers at a discount rate. This is very simple, and should be able to be duplicated - but they have locked it down, making it extremely difficult for anyone to compete with them.

Here are 5 ways to lock down your industry and prevent your business from being easily duplicated:

1) Intellectual Property
Buy every domain name and register every trademark that's affiliated with your industry. Try to imagine what your competition might do, and get do it before they get to it. For instance, if you own a car dealership in Greenfield, Colorado - you will want to get GreenfieldCars.com, GreenfieldTrucks.com, GreenfieldCarDealership.com, etc. You will also want to own the trademark for "Greenfield Cars", "Greenfield Car Deals", "Greenfield Car Discounts", etc.

2) Branding
One reason why other companies can't compete with Wal-Mart, is because they're brand is too powerful. Wal-Mart is always running an extensive advertising and PR campaign. You should do the same. If your clients see your brand enough, they will respect it - and will not easily shift directions when a new competitor comes to town.

3) Relationships
You must create and maintain close and professional relationships with your clients. This can be done directly and indirectly. Your clients should be more than colleagues; They should be friends and family. They have to know that you care about their success. If they feel this way at all times, it'll be hard for a duplicator to come along and recruit them.

4) Customer Service
Your customer service must be excellent and unique. Be different and creative, and offer your clients something they can't get elsewhere. Don't be greedy; Cut your prices if you have to. This alone can make it nearly impossible for a duplicator to compete with you.

5) Research
Always be in the habit of researching and brainstorming. Attend industry conferences, and read industry publications. You should always know about the latest developments in your industry, and should never hesitate to make the necessary adaptations so as not to fall behind. If a duplicator comes along with a more modernized approach, this could be very threatening to your company.

Interview With Stacey McBride-Irby

Stacey McBride-Irby is a designer/intrapreneur at Mattel. Recently, she received rave reviews from the national media for creating their new "So In Style" line - a new line of black Barbie dolls with fuller lips, a wider nose and more pronounced cheek bones.

The hype is mostly based on the fact that the dolls accurately reflect how African American women look, compared to the original "Christie" doll that Mattel debuted in the 1960s that was "essentially a white doll painted brown".

Stacey, who is very down-to-earth, and obviously very intellectual and entrepreneurial was kind enough to grant me the following interview:

Dante: Thanks for making yourself available Stacey. Tell me - What's your background, and how did you get a deal with Mattel?

Stacey: I have a background in fashion design. I started out designing clothes for little girls, assisted adult line clothing designers, then was blessed with the opportunity to be a design assistant at Mattel. I’ve been designing Barbie dolls for over 12 years now.

Dante: How does your new dolls differ from previous African American dolls sold by Mattel?

Stacey: My dolls are different because they give parents and girls a variety of skin tones and facial features to choose from within an African American fashion doll. The dolls also have features that little girls can relate to while playing and dreaming up stories. We’ve also added a positive message behind the dolls. For instance, the big dolls are teenagers and after school they mentor their little sisters. I hope that this message will inspire girls to aspire to be role models to their little sisters or girls in their community.

Dante: You refer to yourself as an "intrepreneur". What does that mean?

Stacey: Yes, I am considered an intrepreneur - which is basically a person who develops a new business in the context of a large organization. So, I created a passion project within Mattel’s larger organization. While designing the Barbie and Pets, and Barbie “I Can Be” Career dolls - I embarked on the creation of the "So In Style" line in the summer of 2007.

Dante: Will your dolls be sold worldwide?

Stacey: Yes, the dolls will be sold at Walmart, Target, Toys R Us, and their online stores. They're also available on BarbieCollector.com and Amazon.com. Other countries that are interested in "So In Style" include Brazil, Italy, and Canada.

Dante: We all know that millions of dolls are sold annually, and you certainly stand to make a lot of money from your designs. What advice do you have for entrepreneurs with innovative products looking to partner with a major distributor like you did?

Stacey: Fortunately, I’ve had the opportunity to design for a great company (Mattel) and brand (Barbie). Two years ago, I presented the "So In Style" concept to upper management and they saw my passion and believed in it. If there is something that you are passionate about - work for it, fight for it, and don’t give up on your dream. I am a witness that dreams don’t happen over night, but do come true.

Dante: Thanks for the interview! You're very inspirational, and hopefully many will learn from your fine example of passion, patience, and persistence.


For more info, follow Stacey on Twitter at @StaceyMcIrby

The Desperate Sales Pitch

It's very common to be approached by a salesperson, but have you ever been approached by a desperate one? Perhaps it was a family member or friend who wanted you to buy something, not because you needed or wanted it, but because they needed your help.

Well, here's the problem with the desperate sales pitch. You may end up with a sale, but you've just lost a life-long customer. Anyone who buys something because of pressure, is likely not to want to buy from you ever again.

When selling products, the key is to find people who actually want and need them. If you can't find people like this, then you're selling the wrong product - period.

When pitching to someone, your pitch should be about how the product solves their problem. Pressuring family, friends, and others to buy into it because you need their help is unprofessional and will not help you in the long run. In fact, it will hurt you greatly.

I always tell fellow entrepreneurs to use the CarMax approach. CarMax, if you don't know, is the 2nd largest chain of used car dealerships in the country. They have an active policy to use "no haggling, no high pressure sales" tactics - the complete opposite of what nearly every other car dealership does. Not surprisingly, CarMax sells over 300,000 used cars a year.

The Circle of Life

Everyday about 150,000 people die worldwide, and about 200,000 babies are born.

This means that everyday about 200,000 people turn 18, officially becoming actual consumers to market to - especially for cigarette companies, credit card companies, and higher education institutions.

It also means that everyday about 200,000 people turn 21, becoming even better consumers to market to - especially for alcoholic beverage companies, casinos, and adult magazines.

Even more, everyday about 200,000 people turn 65, officially becoming senior citizen consumers to market to - especially for nursing homes, reverse mortgage companies, and funeral planning services.

The point is this: Everyday a new consumer is born. This planet is constantly being refreshed with new life, and people are constantly aging.

As a business owner, you should understand that there is an endless supply of potential customers. As one goes away, another one comes into place. This is why companies like Coca-Cola who have been around for over a hundreds years, still spend millions each year in branding and advertising. They understand the circle of life.

And so should you.

The Business of Being In Business

Many have the misconception that being successful in business means that you are a millionaire who lays around on the beach all day, doing nothing and collecting checks. The reality is that less than 1% of all business owners have this luxury.

The average business owner reports to work every weekday to keep their business afloat, and small business owners in the United States average only about $70,000 in annual revenue. Does this mean that they are not successful? Not at all.

Being successful in business is not based on how much money you make and how less you have to work. It's based on whether or not your business is even a business. In other words, if you're actually making money - you're successful.

Most people who start businesses never actually get to the point where they are generating a cash flow - let alone a profit. Their companies flop before they are even launched.

If you have a business that only makes $30,000 a year, don't feel bad. You're successful by far. At least you are able to create some type of revenue - whether it supplements your income a little or a lot.

Even a company that only generates just $1,000 a year in annual revenue is technically a successful company. There are millions of businesses that have come and gone that have never generated a penny.

Don't ever be mislead into believing that your business is not successful because you have to work hard, and don't own a yacht.

FLASHBACK: Learn, Not "Burn", From Your Mistakes

I wrote the following blog last July, but I think it has some very timely reminders for us all. If you read this blog last year, have you made the necessary adjustments to your attitude?

We all have made bad business decisions. Some of them were quite dumb, others were just bad instincts. Maybe you lost money, wasted time, or even both. Despite this, you must recognize that making business mistakes is a natural part of building your career as an entrepreneur.

Here's the key: When you do make a business mistake, learn from it. Start by fully accepting the blame and responsibility, and not putting it on others. There are very few cases when you can place the blame on someone else other than yourself, and this is very easy to determine.

All you have to do is ask yourself: "Was there something I could have done to prevent this?" If the answer is yes, then it was your fault. If the answer is no (which it rarely is), then it wasn't your fault.

The point is that the minute you accept full responsibility, that's the same moment that you actually learn something valuable from your mistakes. As a mature adult, your brain is automatically trained to not make the same unwise decisions over and over again. However, your brain is waiting for you to admit that it was you who actually made the mistake.

Some people, however, end up "burning" from their mistakes. Instead of admitting that they were at fault, they blame other people or factors. They say things like "he screwed me over", instead of "maybe I should have looked closer at the contract." They say things like "he stole my idea", instead of "I should have better protected my idea through patents and trademarks." Or even "he didn't do what he said he would do", instead of "I should have gotten that in writing."

They "burn" from their mistakes because in the future when they face a similar scenario, they will make the same mistake again...and again and again. Why? Because their brain is telling them that last time it wasn't their fault, so there's no reason to proceed cautiously this time.

Please believe that the only way to grow in business is to learn, not "burn" from your errors. We all make bad decisions, but how we respond thereafter determines how successful you will be.

Four Things An Entrepreneur Should Never Say

Nearly every time I'm networking at a business function, I run into people who say things that make me question whether or not they are legit. Here are just some of the things I have heard:

1) Our web site gets millions of hits. First of all, web traffic is not measured in "hits" any more; It's measured in impressions, page views, and unique visitors. Secondly, your web site doesn't get millions of hits. If it did, people would already know and you wouldn't have to broadcast it. Thirdly, I went to your web site before and the design sucks. There is no way a million people go there.

2) We real big right now. First of all, the proper way to say that is "we're really big right now." Secondly, no you're not. If you were "real big", I would already know and so would everybody else. Thirdly, what does that mean? Your statement doesn't mean anything. How are you big? Why are you big? Big in sales? Big in popularity?

3) I'm the hottest thing out. You're hot? Do you mean you're getting tons of publicity? Do you mean you're in high demand? What newspapers have you been featured in? Any radio and TV shows? Generally, people who are the "hottest thing out" don't have to tell people that because people already know.

4) I own my own business in network marketing. You might be making some money, but if you're in network marketing - you don't own anything. You work for somebody else. You're a contractor that gets paid on commission. Just tell people you "work in network marketing."

Do What Everybody Else Is Not Doing

In normal economic conditions, its always in your best interest to outthink your competition. During a recession, this is even more important. The key is to try to do things that no one else is doing or even thinking of.

Many entrepreneurs like to take the easy, less tedious route. But now is the time to welcome on the difficult tasks. These are the tasks that will take forever to complete, but will pay off greatly.

You know what they are. You've been avoiding them for quite some time. Start chipping away today. A thousand mile journey begins with the first step.

Also, now is the time to be more bold and take more risks. I'm not advising you to be careless, but I'm encouraging you to live up to your "entrepreneurial" title.

A recession can create lots of opportunities for you that aren't normally available. For instance, many companies struggle during a recession - which can create an opportunity for you to buy your competitor out.

In addition, many companies will cut their advertising budgets - which can create an opportunity for you to increase your budget and take over their market share.

These are general tips, but take a good look at your business model - and pursue a course that your competition hasn't thought of.

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

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

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.

Colleges Aim To Stay Profitable

In case you didn't know, colleges and universities operate like companies. They have to make money, and they have to be profitable. Thus, in a bad economy, they suffer. Obviously, if people are losing jobs and getting their salaries cut - they can't afford to pay for their kids to go to college.

However, many institutions have a unique plan. The Washington Post reports that "some U.S. schools are looking anew at an old idea: slicing a year off their undergraduate programs to save families time and money." That's right; They are introducing the three-year undergraduate degree.

This is actually a pretty big deal because "the four-year bachelor's degree has been the model in the United States since the first universities began operating before the American Revolution." But during a bad economy, sometimes you have to break tradition if you want to stay afloat.

I think its a great idea. Even though they will make less money off each student, they will be enrolling more students who can now afford to attend.

In my opinion that's what entrepreneurship is all about: Breaking tradition, bending the rules, thinking outside the box, and doing what's ethically necessary to stay in business.

The Rise and Fall of Warm Spirit

Warm Spirit was a national health and beauty empire based in Exeter, New Hampshire. Generating nearly $2 million a month in sales, they sold products that "heal, nourish, nurture, and restore balance - to mind, body, and spirit."

The company was one of the only Black-owned network marketing companies out there with more than 30,000 independent sales consultants. They sold more than 200 different products, and had a huge nationally-recognized brand. They received tons of publicity from local and national media, and were even a recent recipient of the 2008 Black Enterprise Emerging Company of the Year award.

Unfortunately, Warm Spirit no longer exists.

Rumors are that founder Nadine Thompson was forced out of her company - the same company she started by herself in her home basement. Things got complicated as she sought after capital to grow the company, and gave her business partner Daniel Wolf majority of the shares.

On her blog at NadineThompson.com, she writes: "It was my fault to believe in friendship and not force the equity to be put in writing. I tried but I was not forceful enough. That was my failing as a CEO. I should never have believed in combining friendship with business. I gambled on friendship and trust and lost 12 years of sweat and sacrifice."

Let this be a lesson for us all to always get things in writing, and always have a contract in place. People are greedy and selfish, and will do anything to destroy you.

Fortunately, Nadine Thompson has moved on and started a new company called Soul Purpose (www.SoulPurpose.com). This company, similar to Warm Spirit, is a network marketing company that sells unique health and personal care products.

According to a recent press release, the company is doing extremely well and has already sold over $1 million dollars in products in less than 12 months.

Congratulations and best wishes Nadine! We all know that you will make a triumphant comeback.

20 Billion Hot Dogs

According to Southwest Magazine and the National Hot Dog and Sausage Council, Americans eat 20 billion hot dogs each year. That means we eat about 633 hot dogs per second.

Those astronomical numbers don't even include hot dog sales from Wal-Mart, sporting events, or street vendors - all of which do not disclose sales data.

What does this mean for me and you? Well, its means different things to different people. But one thing is for sure: Despite a recession, people are still eating, they are still spending money on food, and they are making food companies filthy rich.

If people are buying this many hot dogs, imagine how many hamburgers, loaves of bread, and cartons of milk are being sold. Imagine how many bags of chips, bags of candy, and bags of sugar are being sold.

As entrepreneurs, maybe we should consider getting into the food industry. Or maybe this just means that we should explore more simple ideas.

Whatever it means to you, it will vary - but it does mean something.