Categories
Planning & Management

Which Type of Business Owner Are You?

Which Type of Business Owner Are You

Over my 12 years of being in business, and speaking with many, many business owners over that time, I’ve discovered that when it comes to creating a strategic business and marketing plan for their business, these business owners typically fall into one of these four camps:

The Perfectionist Camp.  These business owners plan everything in minute detail and won’t dive in until everything is perfect. They constantly tweak, change, and revisit their plan.  The problem with this approach is that it will never be perfect.  Your business plan won’t ever be perfect, so you may as well just start now and get going.  You can always tweak/change/update as you go along.

The BSO Camp. These business owners are constantly distracted by Bright Shiny Object syndrome, never finishing one project before moving on to the next.  The problem with this approach to running your business is that you never get anything done. Nothing ever gets implemented.  No results (or very lackluster results) are ever seen. So there’s no real business growth and everything becomes confusing and overwhelming.

The Boxing-Myself-In Camp. Then there’s the business owner who won’t create a business plan because, if they do, they feel they’ll be boxing themselves in and missing out on opportunities that arise.  The problem with this approach is that by not having a business you don’t have any real roadmap for growing your business; nothing is done in a very strategic way.  And the irony is, you do end up missing out on opportunities because you don’t have a point of reference for anything that you do.

The Don’t Know What To Do Camp.  And finally there’s the business owner who simply doesn’t know what to do.  They’re very confused by all the different elements of online business management and really don’t know where to start when it comes to running to their business. They don’t know what their starting point should be.  Because they don’t know where to start, it’s really hard for them to create a strategic business and marketing plan that is going to work for them.

Despite all of these different scenarios there is one thing in common.  Without a strategic business and marketing plan in place, it’s going to be very difficult to grow your business and sustain it over the long-term.  Opportunities will be missed.  Revenues will be lost.  And you’ll have no benchmark with which to gauge your success by.

This is why it’s so important you spend a little time planning out what you want for your business.  And I recommend to business owners who have never created a plan before that the first start with a 90-day business plan. Even by creating a plan that focus on a shorter timeframe, it will provide them with the much-needed structure in which to grow their business.

Categories
Sales & Marketing

The Metrics That Will Haunt Your Sales Team

Before you read on, take a moment to soak in all of the metrics that can be found in the infographic below. Those are sales metrics that basically mean you’re losing business and it’s all because no one is helping the sales team understand the numbers of sales.

For a sales professional their career is basically a never ending numbers game from targets, quotas to meetings per week. Their ultimate success and they reason they’ll be given a bonus is down to the number of sales they bring in which then brings me to the effectiveness of sales approach.

From a sales professionals point of view very few are going to spend the time inputting data and metrics that show how many times they called someone which also means they are incredibly unlikely to take the time to compile the data to analyse and determine the best course of action.

For a sales leaders point of view compiling data should really be your task to complete because you’ll also have the added benefit of not putting bias on data that is the strong point of a sales person rather you’ll be looking at the whole process from meeting to closing.

Once you understand the metrics and the data behind it you’ll soon begin to pick up on the sales people who are the all stars and laggards not by the number of deals they bring in but by they efficiency and effectiveness during the sales cycle.

This is key data that needs to then be shared with the team so that they can understand where they need to improve and where they are excelling because until then most sales people and leaders tend to rate success on the number of deals that are brought it.

However a fluid and efficient process not only limits the amount of missed opportunities, lack of follow ups and ultimately lost business it also helps to create a sales team that has a different attitude to the sales process.
sales infographic

Categories
Work Life

Speaking Your Truth Even If Your Voice Shakes

Speaking Your Truth Even If Your Voice Shakes

Your palms are sweating

Your heart is pounding

You have a knot in the pit of your stomach

You have something you want or need to say to someone and you fear their response

It might be to:

  • Clear the air about a misunderstanding
  • Set a boundary
  • Speak up for yourself
  • Challenge someone to take responsibility for something
  • Say no to a request
  • Ask for an apology or make amends
  • Reveal a secret
  • Position yourself in a more visible way in your business
  • Ask for the sale….

There are a number of situations that can ignite so much fear and discomfort that you just want to run away or ignore the situation. You might think you’d rather have a root canal that face whatever person or situation you’d like to avoid and yet…there it is.

A client of mine, I’ll call Ann, is having marital problems. She’s been on a path of personal transformation for many years and has become more comfortable in her own skin, being true to who she knows herself to be. Her husband has been in and out of counseling. Each time he comes close to breaking through some blocks, he stops and buries himself in his work.

Several months ago Ann got honest with her husband about some things she had been withholding for quite some time. She’d been afraid to talk to him because her husband has a  strong personality and is very good at verbal retaliation and turning things back on her. She finally gathered the courage and strength to fess up to some things that had been upsetting her. In fact all of her pent up feelings came tumbling out of her mouth. Splat.

Her husband felt like she had just dropped a bomb on him and he fell apart. He thought things were fine. Now, they are both back in counseling to see how their marriage can be saved.

Why are we so afraid and uncomfortable to face situations head on with others so we can clear the air and potentially resolve conflicts that can result in a stronger, more intimate, and trusting relationship – whether it is a marriage, friendship, or even a business relationship?

Common reasons and excuses we use to talk ourselves out of speaking up:

  • Maybe I’m making too much of this. (minimizing)
  • I’ll say something the next time it happens. It’s too late to talk about it now. (avoidance)
  • It’s not such a big deal. (discounting, diminishing)
  • It won’t change things anyway. In fact, it will probably make things worse so why bother? It’s not worth it. (rationalizing)

We expect, imagine, and anticipate

  • The other person can’t handle what I have to say. They will take it personally, be hurt or offended.
  • They will judge, criticize, tease me or make me the bad guy (again)
  • They won’t understand, agree, or really hear me
  • They might get angry and stop liking/loving me
  • I’ll be abandoned emotionally, physically, or spiritually
  • I’ll be punished in some way
  • I’ll lose my composure and get too emotional
  • I won’t say it right
  • I’ll look, sound, or feel like an idiot

The anticipation alone of what you negatively imagine might happen can scare you into silence! And, if you have had past experiences that have gone poorly, you’ve probably collected lots of evidence as to why keeping your mouth shut might be a good idea.

Stuffing feelings in silence  doesn’t just disappear inside and go away. There isn’t a rug big enough to sweep things under that will stay hidden indefinitely. If we aren’t able to release pain and upset to come to a place of peace inside, the energy we use to keep all the feelings wrapped up tightly will either erupt in ways we regret, manifest illness, or create psychological problems. That’s why Ann blew. She couldn’t contain her pain and anger any longer.

What she didn’t initially realize is the person she was most upset with was herself, even though she understood why she had gone along with things silently. Now she is making peace within herself as she works on her marriage. The better you come to know who you are both as a human and spiritual being, the harder it becomes to ignore when you feel mis-aligned with your Self.

Tips to create a positive conversation:

1. You are 100% responsible for how and what you think, feel and do – how you show up and you express yourself, verbally and non-verbally. That includes making amends to others when they are appropriate. I usually know what I need to do that because I experience inner turmoil and lots of negative self-talk. You may feel that what you said or did was your truth and make amends about how you said or did something. You are not 100% responsible for how people interpret what you say, think, feel and do – they are.

Stirring things up can open pathways for healing and growth to occur. That is one of the ways we are in service to each other – by having the courage to show up authentically and invite others to do the same without an attachment to whether they can or will.

2. Taking time to sort out your feelings and resolve your own issues prior to having a conversation will invite the best possible outcome. Using techniques such as journaling, meditating, stepping back, venting with someone safe, talking with a coach or counselor can be extremely benefit to get perspective and open your heart.

3. Center yourself in love and light. Send love and blessings to the other person in advance.  Intentionally shift into curiosity and openness. Having empathy for the other person will help you speak and listen with love and compassion. In the past when I have been nervous about conversations, I sat down, closed my eyes, took a few deep breaths and prayed to God, “My voice, your words” , with the intention to speak with love. I have found that prayerful request always seemed to bring the right words from my heart and conversations went well.

4. Let go of attachment to the outcome and hold the intention for the conversation to bring healing. Releasing expectations, motives, and agendas allow the experience to naturally flow and unfold.  Create the space for each of you to speak your truth with taking it personal. Stay in “I” statements – I think, I feel, I understand, I appreciate... rather than “you” statements which feel accusatory.

5. Some conversations do not need to occur. The situation might feel unsafe or untimely. Emulating the qualities of Unconditional Love can be powerfully healing in relationships and shifts can manifest spontaneously. Knowing the difference between eliminating or delaying a conversation and when you are in avoidance can be tricky. The better you know yourself the more able you will be to discern right action. Use your close circle of friends for help you gain clarity if you are unsure or untrusting about your perspective.

For additional help in dealing with conflicts, check out my article post on A Model For Conflict Resolution

Relationships are the foundation of our life experiences. We are all part of a shared consciousness that connects us to each other, whether we realize it or not. Some of the greatest opportunities to heal and evolve come through painful and uncomfortable experiences. They stretch us, kick us in the butt, make us squirm, and invite us to step into the next and highest version of our soul’s intention.

Does that mean you always speak your mind no matter how it comes out?

Does it mean you impose your thoughts and feelings on other regardless of whether it is welcome? Noooooooooooooooo.

Having healthy, loving relationships involves being vulnerable, willing, and open to share your heart with another even when it is uncomfortable or scary. It is through our conflicts that we test the strength  and truth of our relationships. Sharing compassion, forgiveness, and unconditional love for “our humanness” fosters trust and safety because we want to know that people will stick around when we screw up or when things get tough. And, it is up to us to stick around for the people and things we love and value.

How you show up in the world is up to you. How you live and speak your truth is your choice and your responsibility in honoring yourself and others. I believe that when we have the guts to be real even if it creates friction, we are truly in loving service to another person’s growth and healing.

Categories
Sales & Marketing

Your Website Marketing Plan — Your Guide to Launching Your Website to the World!

internet-marketing-channels

Congratulations! You’ve just completed the finishing touches on your brand new website, and now you’re ready to launch it to the world!

Except…how do you do that exactly? It’s not like you upload it and your ideal clients magically find you.

So, what you need is a launch guide for your new site. And you just happen to be in the right place, because I’m going to walk you through what you should do.

And the best part? This even works if you DON’T have a new site and all you’re looking for is a bump in traffic. Wahoo!

First off, you need a message. Your message could be “Hey check out my new site,” which is okay, but unless you’re only talking to people who have some sort of relationship with you (friends or those who have been following you awhile) they probably won’t go look.

A better message would be something around the free gift you’re giving away on your site. (What? You don’t have a free gift? Okay, that’s first on the list to get done!)

You could also write a blog post and/or shoot a video with some content in it from your freebie — maybe you highlight one tip or you include content that’s NOT in the freebie — and post in on your blog with a call to action to sign up for the full freebie to get the rest of the tips.

Once you know what your message is, now it’s time to start posting it. Places to start:

* Your list — send as an ezine or a message (although your list already has the freebie, so you may want to do a variation of the content piece)

* Post a blurb on Facebook with a link to the article or video

* Post the article or video itself on Facebook

* Create a graphic with a quote from the free gift with your branding on it — post that on both Facebook and Pinterest

* Tweet about the article or video

* Post a blurb on Linked In with a link to the article or video

* Post the article or video itself on Linked In

* Post a blurb or the content itself on any other social networking site you use

* Create a press release about either your new site and/or the piece of content you created and submit on both free and paid portals

* Talk about it on your podcast, if you have one. (On a separate note, podcasts are making a comeback so you may want to look into hosting one.)

* If you make a video, make sure you post it on YouTube (and you may want to create a video in addition to the blog post so you can create more traction)

* Create some Facebook ads around the content

* Be creative! Can you think of any other places to either post the content or post a blurb with a link to the content?

Hopefully this has given you some good ideas to start boosting traffic to your website even if you don’t have anything going on in your biz right now. Also, I want to make sure you see the big picture here — which is to find ways to take ONE thing (one piece of content, one event, etc.) and reuse and repackage it to give you visibility on multiple platforms. That’s the key — the more you can do this, the easier it’s going to be to leverage your online marketing.

Categories
Branding

How-to Uncover the Razorblade Model for Your Business [with Examples]

How-to Uncover the Razorblade Model for Your Business

Gillette sits as #18 on Forbes’ Most Powerful Brands list. How does a company that sells disposable razorblades for mere pennies on the dollar have a value of $16.8 billion dollars?

It’s because they leveraged what we now know as the razorblade model of business.

The business came about due to the creation of a disposable safety razor which coincidentally required the use of the blades made by whom? Gillette.

The basic principle of the razorblade model is to leverage a lower priced item (often labeled as a loss leader) in hopes that the customer comes back to your business which offers a premium component to said item. The lower-tiered item should, in theory, be valuable in its own sense but having access to the premium product increases its value and longevity, for the consumer.

These types of businesses have become commonplace.

Take a look at the printing industry which has a stronghold on printing supplies. Keurig, too, has a dominant share on the single cup brewing industry thanks to the inexpensive machine but premium priced K-cups.

The truth is that every business has an opportunity to uncover and leverage the razorblade model.

The following will provide a few tips (and examples) to do so.

Customization

Consider the marketplace for office furniture.

Thousands of work stations, chairs, office accessories, and the like, are needed for businesses.

Now figure that OfficeMax, Staples, and Office Depot comprise the majority of those providers.

Makes it difficult to see where a business could wiggle in, right?

What’s needed is a layer of customization.

This customization allows a business to offer premium products because they are tailored to a customer’s requests and desires.

Let’s say, for example, you operate a business and need custom office furniture.

A basic offering, which you may find at major retailers, may suffice if you needed a simple, generic item. However, a choice in the customization allows you to work with another business that tailors to your brand, work space, and workflow.

Your turn: Take a look at one of your physical products and develop ideas on how to add customizable features. These features may include tailored designs, branding, white labeling, reports, dashboards, and more. What you can do is take the generic offering, use feedback from customers, and begin developing extensions for the item which come at a premium cost.

On-going Premium Support

Linux, a popular open source operating system, is free for all to use, develop, and support.

You may wonder how a business could thrive off something that is free. It has been proven though and one of the industry leaders is Red Hat.

Red Hat provides open-source software, products, and support for major enterprises.  It currently holds about $9.2 billion in valuation.

The secret of Red Hat’s success relies on the ability to offer support for Linux which is difficult to master but greatly rewarding due to its lack of a price tag. Premium support helps companies implement the operating system and have tailored customizations for their needs.

Your turn: Find the opportunities hidden within your customer support. Identify whether your business has the opportunity to sell premium support for high-end clients. Consider dividing your current level support into a free and paid model depending on its complexity.

Become Your Own Competitor

Consumers like to believe they are the ones in control of the market. An interesting infographic that you won’t want to miss is The Illusion of Choice.

What the infographic reveals is an idea that we’ve all had in the past: the cheap, regular, and high-end products are generally all sold by a select group of companies.

These companies involve Nestle, Kraft, P&G, Johnson & Johnson, Kellgog’s, and others.

What we see as competition is merely a company ensuring they have a hand in all markets.

A customer unwilling to purchase a high-end product could find themselves buying from the same company that offers an inexpensive equivalent.

Your turn: Select one or two of your hottest products or services. Develop a new brand to house these offers. Set the offers at a higher (or lower) price depending on the market. Delegate and hire individuals to act as sales representatives for this spin-off business. Funnel leads from these new channels into you existing business but send it back white labeled as the off-shoot brand.