Archive for the ‘Business Attitude’ Category

The Marketing Drip Feed – Are you doing it?

Tuesday, September 29th, 2009

marketing drip feedAs we begin the last quarter of 2009 there will be no doubt that one of the reasons why some businesses have survived and others failed over the past year, will be the consistency of their marketing.

Many self-employed professionals have relied on referrals over the past few years.  They have built up a strong reputation and enjoyed a steady flow of client.

But, with the economy in a downturn, it is easy for those referrals to dry up.  Their clients may have cut budgets or have decided to spend their money on other resources. And the steady flow of clients stops.

On the other hand, there are many, many coaches, consultants and trainers who have been marketing consistently – month in, month out, irrespective of how busy their are with clients.

And it will be these businesses who will not only maintain their flow of work, but probably gain a little more as some other businesses go under.

Marketing is not an activity that happens once a month.  Nor is it something that you do every Monday morning, to kick start your week.

Marketing needs to happen each and every day, drip fed in to your working week so you maintain visibility and your potential clients think of you when they are ready.

The Road Runner Syndrome: Has your small business got it?

Tuesday, September 15th, 2009

This weekend I sat down and watched cartoons with my 7 year old.  None of those kung foo kicking, robot ones. But the classic cartoons that I loved to watch when I was 7.

One of the cartoons I particularly loved was Road Runner and poor old Wile E. Coyote who never, ever managed to get that bird.  Every idea he came up with failed and usually resulted in him being blown up or falling off a very big cliff.

But this time, being that little bit more older and wiser, I realised I was sitting there wondering why on earth did poor old Wile not learn from any of his ideas.  Because most of the ideas he came up with were actually quite good (if not a tad wild!).

Such as the dehydrated boulder which turned from a pea-sized crumb in to a huge boulder at a drop of water.  The attempt resulted in Wile being crushed as the boulder reached it’s full potential with Wile underneath it.  If only he had had another go, he could have thrown the dehydrated boulder in the air in that split second before it expanded.  This would have got that Road Runner good and proper as it crashed to the road below!

But instead poor old Wile had to go and think of yet another crazy idea. And another crazy idea. And another crazy idea.

Exhausting isn’t it? Coming up with new ideas all the time, watching them fail one after the other until you feel like giving up altogether.

But so many small business owners follow this exact same crazy pattern month after month.

“Twitter – that’s a great idea!” you shout merrily and spend the next few weeks getting more and more confused about how it is supposed to work.  After a month, you declare “What a waste of time. Twitter doesn’t work for me. I’m off to think of the next idea.”

The next idea is leaflet dropping all the local businesses. But after a month of wearing your shoes out, you declare that this idea stinks too.

The following month it’s the turn of buying a database and mailshoting the whole list. And the month after that you decide to give LinkedIn a go.

Small businesses will never fail because of a lack of marketing ideas.  Small business owners are naturally creative and their entrepreneurial instinct throws up dozens of ideas, week in and week out.

But what small businesses do fail in is the follow through of marketing ideas.  They fail in the planning, the learning of what works and what doesn’t and they fail in making the necessary changes to improve and develop their ideas.

Don’t be like Wile E. Coyote. When an idea doesn’t work out, take the time to learn, understand and move that idea on.

It’s far more effective than coming up the next “BIG” idea!

What do you think? Add your thoughts in the comment box below

Are you being honest enough about money?

Monday, July 20th, 2009

small business moneyWhen you started up your own business, you were probably full of enthusiasm.  You may have felt like you had the power to change the world; you wanted to make things better for your clients.

But have you fallen in to the trap of discounting your services to clients you feel can’t afford you?

Have you found yourself doing that little bit more, for no extra charge because you didn’t want to bother them with an additional invoice?

Now I know money isn’t everything.  If you are just in it for the money, then, to be honest, you won’t really care about your clients; you just want to make the fastest buck as possible and get out of there.

But assuming that you do care about your clients, how much do you also care about your bank balance?   Are you running a charity or are you there to make profit?

Motivation to make profit can be tough to admit because, after all, if our clients think that we are out to make a profit, will they not object to paying the going rates for your services or products?

But let’s turn this around.  If you are not being paid well for what you are doing and you are not being rewarded significantly for the work that you are doing with your clients, then how can you carry on and work with more clients?

How can you carry on and improve on what you are doing?  How can you invest in your business systems and create new programs and new services.

So if you are avoiding the question “Am I really in it for the money?”, then maybe it is time that you should be honest with yourself and think “Well, yes, I can be in business for the money, at the same time as really caring about my clients.”

If you can focus yourself on setting strong financial targets this will, in turn, help you to push yourself to give a better service for your clients.

Your thoughts & opinions: What do you think about making a profit from your business? Leave your comments in the comment box below

Why marketing a small business has nothing to do with selling

Thursday, July 2nd, 2009

for saleWhy is it that when we have something to offer our clients and our customers, the harder we try to sell it, the less likely people are to buy it?  People like to buy things but they hate being sold to and this is why marketing really has nothing to do with selling.

Selling is the part of the process that happens once somebody has built up the trust and relationships with you.  The trust and respect to actually to be able to spend money with you.

So if marketing has got nothing to do with selling what is it all about?

Marketing is all about building relationships with people.  Marketing is about turning strangers into friends and turning those friends into clients.

Next time you are trying to sell something and you find that no one is buying, it may be that actually you are trying to sell too hard.  You probably need to back off from the selling and do more of the marketing.

Does the size of your mailing list really matter?

Friday, June 26th, 2009

list buidlingEveryone seems to be focused on numbers at the moment, don’t they?

How many followers can you get on Twitter? How many friends can you collect on facebook?  How big is your network on LinkedIn?

How big does your mailing list need to be before you can make any sales?

Numbers, numbers, numbers!

It seems that everywhere you look, everyone is obsessed by size of lists.

So, does the size of your mailing list really matter? 

Now, there is no doubt that the bigger your mailing list is, the more likely you are to make sales. After all, if you trying to sell 20 places on a workshop to a database of 50 people, the chance of you filling all 20 places is minimal.

Even if everyone on your database is interested in the topic, they may be on holiday, have a meeting that day or  just couldn’t justify the expense at that particular time.

Therefore the more people you have, the easier it is to market your events, products and programmes.

But all this focus on numbers can be demoralising, stressful and not a lot of fun when you struggle to get just one or two newsletter sign-ups every week.

There is one factor that many small business owners forget.  And that is the quality of those you attract to your mailing list.

That phrase “size doesn’t matter, it’s what you do with it that counts” rings true for your mailing lists.

And putting more focus on attracting quality sign-ups will mean that what you do with your mailing list – whether that’s selling e-books, workshop programmes or 1-2-1 services – will work far more effectively for you.

So what are some of the rules when it comes to successful list building strategies?

1.  Know your target audience – the more focused you are on the exact client you want to work with, the easier it will be to attract them.

2.  Know the pains and worries of your target audience – the more you know about what the problems your clients have, the easier it will be to come up with a great give-away to encourage them to part with their email addresses

3.  Offer results, rather than the solutions – your target audience aren’t really that concerned about how you go about helping them. They just want results.  So a “Small Business Checklist” which is rather blah-blah, suddenly becomes desirable when it becomes “The 5 biggest mistakes that small business owners make – and how you can avoid them”. Same content – just presented in a different way

4. Be clear on the language your clients use – tone of phrase, images, how you address someone, specific jargon – all of this matters.  Write and present yourself in a way that relates to your target audience

5. Know where your target audience hangs out – one marketing strategy does not fit all so be careful of using marketing tools and networks just because everyone does.  The more you know about your target audience, the easier it will be to discover where these people hang out in numbers – remembering that the offline world is just as powerful (if not more powerful!) than the online world.

OK.  Coming back to my original question – does the size of your mailing list really matter?

The answer is yes but only when it is full of quality, targeted clients who love what they have signed up for and are ready to make a commitment to you when you make them a good offer.

What are your thoughts? Are you feeling overwhelmed by the pressure to build your list? Or do you disagree and have another view point?  Add your comment below.

If You Could Do It All Over, What Would You Differently In Your Business Today?

Thursday, June 11th, 2009

If you had a crystal ball, it would make many of your business decisions easier to make, wouldn’t it?

If only you knew that the big contract you took on last year would turn out to be the biggest admin headache you’ve ever had.

If only you had asked for references and examples of work from that website designer, you probably would have had a website up and running quicker.

If only you hadn’t decided to offer your workshops are such a reduced price, you probably would have attracted more of the right clients.

Coulda, shoulda, woulda!

It’s all very well looking back and wishing you had made better decisions, but the reality is that you can’t go back in time and change things.

But what if you could do it all over again?

What if you could wipe the slate clean and start your business all over?

How would your business look today?

This is one question that came up with one of my clients recently.
 
6 years of hard graft and fighting through the fog of “let’s make this up as we go along” has created a successful brand and a trust-worthy reputation, but she feels exhausted.  The business systems are labour intensive and the business model is not as profitable as it could be.

And this is why I thought I would ask you this question today:  If you could do it all over, what would you do differently in your business today?

You see, I think that everyone as the choice of shouting “stop” at any point of their business.

The amount of knowledge you absorb in those first few months of starting out is huge.  And as you progress, you learn new things each and every day.

And yet, you are so often caught up in the day-to-day running of your business, it is too easily to grin and bear things when they don’t quite go to plan.

Let me give you some examples:

Are you still running the same administration system that you first set up?  Or is time to review your processes and paperwork you send out to your clients?  It could be time to start out-sourcing your administration and find a virtual assistant to send out your contracts and invoicing.

What about your pricing structure?  Have you stuck with the same pricing for the past few years or is it time to review your most profitable products and services?  Perhaps it time to put some of your prices up!

And what about your advertising costs?  Are you stuck in the rut of running the same adverts in the same publications for the past year?  Isn’t it time to review the results you are getting?  It may be time to negotiate prices or do something different to attract new leads.

At certain points in your business, you need to shout out “stop”.  Put the breaks on and review where you are.

Think about the lessons you have learnt from working with different clients and creating different products.  Think about what changes you can make in your business to make it for the better.

Because if you could start all over again, I bet you would have done things differently :O)

What are your thoughts about taking the time out to make changes to your business? Leave a comment below ~ I would love to read your ideas, too.

When is the right time to sell?

Friday, May 15th, 2009

small business marketingImagine standing at an event and someone comes over to say hello.  You shake hands and you both introduce yourself.

The other person asks what line of business you are in and you tell them.  You politely return the favour and this is when the floodgates open!

You end up being talked at for 10 minutes about what this person does, what impact their business has on their clients and the cherry on the cake is a suggestion to meet up for coffee to show you exactly how you may be able to benefit.

Woooo! Hold your horses! Where did all that come from?  You only asked what line of business they were in.

You’ve never met, you’ve have no knowledge of each other and there is very little rapport and yet, time and time again small business owners feel this super-sales pitch technique on first time meeting is acceptable.

It’s almost as if they feel that this first meeting is the only time to make an impression and the quicker they can get down to business, the quicker they can qualify whether there is a potential sale to be made.

No matter how tough business is for you at the moment, going for the sales juggular can often lead to sudden death.

So when is the right time to sell?

Selling is an incredible important part of the business process. Without the selling part of the process, you won’t make any revenue and your business will grind to halt.  But selling can only happen if the other person is buying.

The right time to sell, is when the other person feels it is the right time to buy. And for most small business owners, a certain amount of trust, respect and rapport needs to be in place before this can happen.

Begin first meetings by asking questions, listening and exchanging contact details.  Build relationships over time and you will actually find that you never need to make a sales-pitch because the right time to sell will be when the other person buys from you.

Business Attitude or Business Idea: Which is more likely to lead to your success?

Wednesday, May 13th, 2009

j03997412What did your friends and family say to you when you told them you were off to start your own business?

And how did it affect the way you went about creating your business?

When I first started telling colleagues and friends of my plans to start my own life coaching business back in 2004 [this is where I started 5 years ago], I remember all too well the sucking of the teeth and the “you’re very brave” comments.

Everyone around me told that going freelance and becoming self-employed was all very well but beware the feast and famine.  Working for yourself may give you control and freedom to do what you want, but clients come and go like a roller-coaster ride.

The first few months, I would have to spend all my time marketing. I would then get some clients and then the work would dry up. And I have to do a few more months of hard marketing all over again.

But the reason I decided to start my own coaching business was because I wanted to work part-time.  I wanted to create a new career around my children’s school terms so that I worked when they were at school and took my foot off the peddle when the holidays came around.

And if I was to be faced with a feast and famine roller-coaster ride, this just wouldn’t work.  I wanted to be in control of when and where I worked in the business and didn’t want to fall in to this trap that was being described to me.

So, although I listened to their advice and kind thoughts, I secretly challenged these opinions and decided that it didn’t have to be that way.

Five months later and I was contemplating going back to corporate life.  They were right!  It was tough out there and my marketing was getting me nowhere.  I hadn’t even experienced the feast – it was just famine all the way!

I had hit rock bottom and fortunately the only way was up.  Which is exactly what I decided to do!

I am sharing this story because I firmly believe that it doesn’t matter how great your business idea is, how brilliant your business plan is or how unique your product is – if you haven’t got the right business attitude, there is every chance you’ll fail.

Sounds dramatic, doesn’t it?

But let’s flip this over the other way.

It doesn’t matter how competitive the marketplace is, how average your business idea is or how inadequate your business plan is – if you have got the right business attitude, there is every chance you’ll succeed.

And probably succeed beyond your expectations, too.

Give me a great business idea or a person with a great business attitude and I’ll put my money on the attitude any day.

So my tips for you today is to surround yourself with people who support you and believe in you, be clear on your “big picture” and go for gold.

Because with the right business attitude, you’ll win every time!

Got a comment to make?

How would you describe the “right” business attitude to have to make your business a success? Leave a comment here with your ideas.

Business Referrals – how do you ask for them?

Thursday, May 7th, 2009

man-handshakeYou know that asking for business referrals is good thing, don’t you?  But how to go about asking for them can be an entirely different kettle of fish.

One of the most simplest, yet most effective, ways of increasing the number of referrals from existing clients is to stop asking:

“Do you know of anyone who may be interested in what I offer?”

and start asking:

“Who do you know who may be interested in what I offer?”

The simple change of emphasis on the word “who” opens the person’s mind up and they start searching for an answer.  “Do you know” is a classic closed question which only gives you two answers:  yes or no.

“Who do you” is an open question which allows the person to think about an answer.

And if they can’t think of anyone at the time, there is a greater chance of them thinking of a name at a later date.

Are You on Business Sat Nav?

Wednesday, May 6th, 2009

business sat navEarlier this week I found myself driving round a roundabout 5 times.

My sat nav was telling me to take one exit and yet my gut instinct was telling me to take the exit before.  I was running late for a networking event that I was speaking at and rather than risk being even later, I decided to follow my sat nav’s advice and ignore my gut instinct.

I should have followed my gut!

My sat nav, like all good sat nav systems, took me the long route round, sticking to the bigger roads.

The good news I wasn’t too late but I did make me question why I decided to base a decision on an electronic device rather than my own instinct.

Our gut instinct is an incredibly powerful force. And especially so in our own businesses.

Our gut instinct can kick in when we meet someone for the first time at a networking event.  You can’t quite put your finger on it, but there was something about the way they said your name, you didn’t like.

Our gut instinct can kick in when you speak to a prospective client for the first time.  It may have been the way they answered the phone or the off-the-cuff comment about their business partner that just made you squirm in your seat slightly.

When you get these gut instincts it’s important to sit up and take notice.

You don’t need to act on it there and then.  I certainly wouldn’t recommend you make your excuses and hide in the toilets for the remainder of that networking event. Or complain of static on the line and put the phone down on your prospective client.

But listen carefully to what your gut is telling you.

If the person you met at that networking event approaches you the next week with a business opportunity – think carefully and remember that initial reaction you had.  Is this someone you can trust and do business with?

If the prospective client becomes a client – perhaps ensure you have a clear objective and agenda for working together so that there is no room for any misunderstanding to happen.

Just because you may be hungry for business and desperate to generate some cashflow, don’t just take what is offered to you there and then.

Trust your intuition.

You could just end up going round and round a roundabout, confused on which exit to take.

Got a comment to make?

What are your thoughts about acting on your gut instinct in business? Leave a comment here with your ideas.