Tag: small business

Categories
Sales & Marketing

3 Ways to Overcome Marketing Overwhelm

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If you’re like many entrepreneurs, the thought of marketing makes you slightly sick to your stomach. And it’s more then a simple like or dislike of marketing, it’s the idea of trying to fit it into your to-do list. You already have a million things going on, how can you possibly fitmarketing in?

So, instead, you end up not doing anything…until you run out of work that is. Then you desperately race around, trying to cram as much marketing as possible into as short amount of time as possible to try and ramp up your business.

Business picks up, you stop marketing again.

As I’m sure you already know, this isn’t a great way to grow a business on any level. But what do you do? You’re already overwhelmed with everything you have to do in your business, not to mention everything you have to do in your life, so how can you possibly fit marketing into that?

Never fear, that’s what the below 3 tips are designed to do, get you out of marketing overwhelm and into marketing superstar.

1. Make marketing a priority.
Okay, don’t stop reading yet. This one might be tough to swallow but it has to be said. Marketing your business HAS to be a priority. If it’s not, then you will doom yourself to a “feast or famine” business model (where you oscillate between too many and too few clients, and because you’re in a constant roller coaster, you can never get enough traction to actually start growing your business).

But, I can hear you say, my priority needs to be on getting the work done. That’s what my clients are paying me for, and because they’re paying, then they have to be my top priority.

My response to that is well, not exactly. You’re right, you need to get the work done, and do a good job, or you’re going to run out of income pretty quickly. But, if you trade doing the client work over marketing, then you’re never going to get ahead.
(And, to be honest, it’s not fair to your clients either to have you constantly stressed about your business because you don’t know what’s in the pipeline. You owe it to yourself AND your clients to have a successful, thriving business.)

You need to have the mindset that marketing your business is JUST as important as doing the client work. Without the marketing, you WILL always struggle.

However, with that said, there’s no need to panic because…

2. You don’t have to do it all alone.
There’s no law that says just because marketing is a priority means you need to do everything yourself. You can (and should) build a team. In fact, I would go one step further and tell you your team can ALSO help you with client work or admin work or just about anything.

Now with marketing, as with anything, there will probably be tasks you need to do yourself. But there will be many tasks you can easily outsource. The trick is to figure out what tasks you really need to do (and make time to do them) then outsource the rest.

But, I can hear you saying, what if I don’t have the cash flow to outsource? See, that’s the beauty of outsourcing marketing. There’s a very clear ROI. So let’s say one new client is worth $500 a month. Do you think regular marketing will bring you at least one new client? Of course. So maybe you set aside $250 a month for a virtual assistant to help you with some marketing tasks, knowing one new client will more than pay for your VA and any more clients above and beyond will be gravy.

(If you need help with marketing strategy to know what to outsource, drop me an email. I create marketing strategies for my clients, as well as do the work for them.)

3. Start small.
This is what I did in my own business. You’ll notice I have a lot of marketing tasks going on right now — I have my newsletter, I blog, I podcast, I’m on social networking sites, I’m doing direct mail. I didn’t wake up one morning and say “I’m going to start everything today.”

No, I did things one at a time. I started with my newsletter, then I added blogging, then podcasting, then social networking, etc. After I mastered one task, I went on to add another. So my marketing wouldn’t seem so overwhelming to me.

But remember, the biggest thing is to actually DO something. Start taking some action in your marketing, and the rest of the pieces should start to fall into place.

Categories
Customer Service

Saying “No” Gracefully to Customers and Colleagues

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Envision the scenario: You’ve just been asked at the last minute by Chris, the organizer of your local networking group, to replace the scheduled speaker at next month’s meeting. You already have too many commitments on your plate. Imagine your response:

You: “Well, I don’t think I’d have enough time to prepare. I’m awfully sorry.  I wish I could help you!.”

Chris: “Your last speech was super’maybe you could just talk some more about that topic? I,d really appreciate it!”

You: “I’m glad you liked it–maybe I could do it”

Chris: “Oh that would be great! Just let me know the title”

How might you feel about doing this speech? You might feel stressed or resentful. You might not be at your best when you do the speech. Other work that you’d really like to be doing might suffer.

Now imagine a different response:

You: “No, I can’t be prepared on such short notice. I know how hard it is to find someone.” Alex speaks on a variety of topics and I think she could fill in for you. I’ll give you her number.”

Chris: “Thanks! That will really help.”

This is a win-win-win: Alex gets an opportunity to speak (her specialty), Chris gets a speaker, and you aren’t saddled with a commitment you don,t want–plus, you,ve probably earned some good will from both Alex and Chris. What a difference!

Whether you are saying no to a collaborator asking you to do something, or saying no to a potential client that you really don’t want to have, the ability to say no gracefully is a key skill when you are in business as a solo entrepreneur. Here are four quick steps to learning this skill:

  1. Understand the reasons you say “yes”, even when you don’t really want to. Here are some common reasons; which ones apply to you?
    • You want to please people; you don’t want to hurt anyone’s feelings.
    • The customer is always right, you can’t say no to the customer!
    • It’s not polite to say no; if you say no you feel you are being self-centered.
    • You are flattered by the request.
    • You feel like you need the business!
    • You can’t think of a nice way to say no fast enough.
    • You think there might be other unforeseen  negative consequencesif you say no. 
  2. Recognize the good things that can come out of saying “no”:
    • You have more opportunities to say “yes” to the right customer.
    • You have more time to do the things you *want* to do.
    • Saying no expresses how you *really* feel. You are taking responsibility for your own feelings and letting others take responsibility for theirs.
    • Someone else who really wants this customer’s business, has a chance to get it 
  3. Learn how to say “no” gracefully:
    • “No, I can’t do that.” Don’t beat around the bush- put “no” right upfront.
    • Use non-verbal cues to underscore the “no”-shake your head; use a firm and direct voice, use eye-contact.
    • Add an explanation if you want, but don’t apologize: “I have another commitment.” – even if that commitment is to yourself!
    • Be empathetic if the situation calls for it: “I know how hard it is to find a tax-preparer at this time of year.”
    • Recommend an alternative if one is available: “Let me refer you to…”
    • If you’re not sure, it’s always OK to ask for more timeto think it over! 
  4. Practice your new skill:
    • Rehearse ahead of time if you think it will help. Role play with your business coach or a friend or colleague.
    • Choose a low-risk situation first. Practice on your significant other, family, friends. Or practice on strangers, if that’s easier for you: the salesclerk who wants to sell you one more thing, the telemarketer calling at dinner.
    • Work your way up to friendly clients. They are likely to appreciate the boundaries you are setting!
    • When you have the courage to fire that client who hasn’t paid and makes unreasonable demands-you’ll know you’ve mastered saying “NO!” (Hint: refer them to someone else that is a better fit and help manage the transition!)

Saying “no” gives you freedom. It is a way of honoring both yourself and the person you are saying “no” to. Learn to do it well, and you will earn the respect of others–and yourself!

Categories
Branding

Getting the Biggest Bang for Your Marketing Bucks

marketing.jpgIt’s a dilemma that most small businesses and startups face: You must market and advertise, but you’re strapped for cash. Fortunately, ideas, energy and imagination can make up for meager marketing budgets. Whether you’re an established company or a nascent business, the marketing formula is the same. You’ll need to start with:
1. The right message
2. To the right audience
3. At the right time
Here are a few ideas for stretching your marketing budget:
Maximize Internet marketing opportunities
The Web has opened up a world of low-cost marketing opportunities, from email and e-newsletters to blogs and podcasts. Also, consider search engine marketing and programs like Googll Ad Words, which charges on a pay-per-click basis.
Ideas and Resources: If you want to send an e-newsletter or conduct a low-cost email marketing campaign, try ConstantContact.com (as low as $15 per month). To build a list of prospects, sign up visitors to your Web site (a no-brainer) by offering a gift (a short report, 10 tips from an expert, or something humorous) or rent a targeted email list at Postmaster Direct.
Seek publicity
Send out press releases and look for “hooks” to get your company covered in print or on TV or radio. Also, make the most of trade showsby speaking on industry panels to position yourself as an expert in your field. (Speakers and panelists at trade shows often receive free registration.)
Ideas and Resources: PR Newswire.com details the components of a press release and offers other tools for publicizing your business. MarketingSherpa.com also features many publicity tips.
Adopt Guerrilla Marketing techniques
Guerilla Marketing is described as “a proven method of achieving profits with minimum money.” After 14 million books in 41 languages, Jay Conrad Levinson’s low-cost tactics are still going strong. Some of his tried and true tips include writing a column for your local paper, sending “off-season” cards (instead of holiday cards), and even slipping your business cards into relevant books at the bookstore or library.
Ideas and Resources Learn more about Guerrilla Marketing at www.gmarketing.com.
Harness the power of Word of Mouth marketing
Word of mouth, or buzz marketing, has been generating buzz of its own as a powerful and inexpensive marketing discipline. Create your own customer evangelists and let them spread the good word.
Ideas and Resources: Visit Bravenet.com to add a free “tell-a-friend” tool to your Web site, e-newsletter, or emails, or try the low-cost Tell-a-Friend Wizard. For more ideas on how to generate buzz, visit www.womma.org, the Word of Mouth Marketing Association.
Consider low-cost, “do-it-yourself” media options
Before you invest in an elaborate direct mail campaign, consider sending less expensive mail such as postcards or birthday cards to clients. Piggybacking on existing community promotions such as participating in town days, and developing loyalty or frequent-buyer programs are other “frugal” methods.
Ideas and Resources: Try a low-cost postcard service such as Modern Postcards.com. Your business can join an existing loyalty program such as MyPoints.com or establish a custom loyalty program with companies such as Maritz. Find dozens of frugal marketing tips at FrugalMarketing.com.
Additional Tips & Tactics:
* In a world of spam and impersonal emails, try sending personal, hand-written notes.
* Find a related but non-competitive partner and join forces to share marketing efforts.
* Do “grassroots” marketing research by talking to your customers one-on-one.
* Join newsgroups and online discussion groups to position yourself as an expert.

LouBortonePhoto.jpgLou Bortone is an award-winning writer and video producer with over 20 years experience in marketing, branding and promotion. As an online video expert, Lou helps entrepreneurs create video for the web at www.TheOnlineVideoGuy.com. In addition, Lou works as a freelance writer and professional ghostwriter, with a ghostwriting site at www.GhostwriteForYou.com and a blog at www.GhostwriteGuru.com.

Categories
Entrepreneurs

Why Sleep Is Not An Option!

enthusiastic.jpgAs i type this entry at 12:03am EST, i am again reminded what I love about owning a business. Its the freedom of knowing that if i want to do work in my home office at midnight and try to change my life and that of my family and employees, no one can stop me! And when i get on a thought trail in the middle of the night, I am hard to stop.
I have decided to sell businesses, buy businesses, fire people, hire people, change people’s reality for both the better and worse, all the while never once worrying about overtime, lack of access to my computer, cleaning crews or login procedures, you see, I own the joint! And it feels good.
For anyone considering starting a business, i will caution or encourage you that if you really have the stomach for it or a passion for an idea, you will be shot by an arrow that Cupid would wake up in sweats with fear of! I promise you that!
As a business owner, I never shut it down. I went on vacation at the end of year at a swank resort in Florida, have a $1000 a night suite for my wife and kids, a spa to die for, 2 pools, beautiful beaches, warm weather, sun and fun at my finger tips, miles of beach and the flattest ground known to man to run and the entire time i am thinking about my newest start up idea.
What will I call it? How will i fund it? Will I have partners? What URL should I secure? Which of my 6 development firms will i hire to build the site and do the optimization? Do i outsource it to my developers in India who are cheaper but challenged with their desire to be so literal? Do i write the content for the site or have someone else do it? What are my corporate objectives? And the parade of thoughts go one for 5 days and 4 nights!
And can i tell you, it was the best vacation i had in years. You see, a business owner is so adept at mental multi-tasking that i can play with my kids at the beach, have cocktails, talk to my wife, answer e mails, think about dinner reservations, plan the route of my morning run and which spa treatment by whom and never miss even the slightest detail! And they call me crazy! HAHA! I laugh at those bogged down with minute details! I am a big thinker. Big ideas. Big dreams! Always have been. Always will be.
The Blackberry is just a mechanical version of my brain. Calls, e mails, texts, schedules, documents, thoughts, web access. I look at my Blackberry as a mirror image. So you see, i live off of less than 5 hours of sleep a day. Any more and i am lethargic and grumpy because i might miss an opportunity to fine tune my global strategy or my opinion of a new hire or a suit i want to buy or a flight i need to take or a contact i need to cultivate… And the song goes on in my head all day and all night.
Pleasant dreams!!!! Enjoy them for both of us, because i am far too involved at this moment to sleep. I will have plenty of time to relax when i am gone!
EvanMorgensteinPhoto.jpgEvan Morgenstein: Entrepreneur, Consultant, Sports Agent, Motivational Speaker. Morgenstein started in the tech industry after graduating in 1987 from Syracuse University. Working for several partially owned IBM partnerships, Morgenstein learned from some of the best. He has parlayed that into a dominant company Premier Management Group in the celebrity talent and sports marketing industry.

Categories
Entrepreneurs

Top 10 Business Plan Myths of Solo Entrepreneurs

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Don’t let these stop you from having a business plan for success!

A recent study of 29,000 business startups noted that 26,000 of them failed. Of those failures, 67% had no written business plan. Think that’s a coincidence?

Here’s the top 10 myths Solo Entrepreneurs often have about business plans. Usually, the reasons why they don’t have one. De-bunk the myths, and see how having a business plan for your solo business, can actually be easy and fun–and can jumpstart your success!

1. Myth: I don’t need a business plan–it’s just me!

Starting a business without a plan is like taking a trip in a foreign country without a map. You might have a lot of fun along the way, and meet a lot of friends, but you are likely to end up at a very different place than you originally set out for?and you might have to phone home for funds for your return ticket.

Solo Entrepreneur Reality: Successful Solo Entrepreneurs know that the exercise of creating a business plan, really helps them think through all the critical aspects of running a business, make better business decisions, and get to profitability sooner.

2. Myth: I have to buy business plan software before I can start.

Business plan software comes in many shapes and sizes, and prices. Many are more geared at small and growing businesses with employees.

Solo Entrepreneur Reality: Business plan software can be helpful but it’s not required. Software is more likely to help if you have a more traditional type business, like a restaurant or a typical consulting business.

3. Myth: I need to hire a consultant to write my business plan.

Consultants are an expensive way to have your business plan written.

Solo Entrepreneur Reality: Your business IS you – and you need to be intimately involved with the creation of your business plan. A better strategy, if you think you need professional help, is to hire a coach or mentor – someone who can guide you in what you need to do, not do it for you.

4. Myth: The business plan templates I’ve seen have all these complex-sounding sections to them. I guess I need all those?

The only time you need to follow a specific outline is if you are looking for funding.

Solo Entrepreneur Reality: Your business plan needs to answer ten basic questions – that’s it! Don’t make things more complicated than necessary.

5. Myth: My business plan needs to be perfect before I can start my business.

If you wait for everything to be perfectly detailed, you may never start.

Solo Entrepreneur Reality: If you have at least a first draft that answers those ten basic questions, you are ready to launch your business! Make your business plan a living, evolving document. In the startup stages, review and update your plan every 2-3 months. As you grow and stabilize, you can slow down the review cycle to every 6-12 months. All business plans should be reviewed and updated at least once a year.

6. Myth: I have to do everything I say I’m going to do in my business plan, or I’m a failure.

Many Solo Entrepreneurs never start because of this myth which leaves them feeling that the success of their future business suddenly rides on each stroke of the pen or click of the keyboard!

Solo Entrepreneur Reality: Think of your business plan as a roadmap for a trip. Expect to take some detours for road construction. Be flexible enough to take some exciting, unplanned side trips. And don’t be surprised if instead of visiting Mount Rushmore, you decide to go to Yellowstone, if that turns out to meet your vacation goals better!

7. Myth: A good business plan has a nice cover, is at least 40 pages long, must be typed and double-spaced?

Business plans intended for investors, such as a bank or venture capitalist, must meet certain requirements that such investors expect.

Solo Entrepreneur Reality: As a Solo Entrepreneur, your business plan need only satisfy YOU. It might be scribbled on a napkin, on stickie notes on your wall, or consist of a collage of pictures and captions. It might be all in one document or scattered among several mediums. As long as you know it in your head and heart without having to look at it, and and it is easily accessible to you when you have doubts, that’s all that is necessary.

8. Myth: I don?t need a loan – so I don’t need a business plan.

YOU are the investor in your business – and would you invest in the stock of some company without seeing a prospectus?

Solo Entrepreneur Reality: Seeing your plan in black and white (or color, if you prefer!), can give a whole new view on the financial viability of your business. If ‘doing the numbers’ seems overwhelming, remember you don’t need fancy spreadsheets. Just lay out a budget that shows where all the money is coming from (and going), and have an accountant review it for additional perspective.

9. Myth: My business plan is in my head – that’s good enough.

I don?t know about you, but I sometimes can’t remember what I planned yesterday to do tomorrow, if I don’t write it down!

Solo Entrepreneur Reality: There is a real power in writing down your plans. Some schools of thought advocate that the act of writing a plan down triggers our subconscious to start working on how to manifest that plan. And, of course, it’s a lot easier to remember when you have it in front of you. And a lot easier to share and get feedback from your non-mind reading supporters.

10. Myth: Friends and family are the best sources of feedback and advice on my business plan.

If your brother is an accountant and your best friend is a market research expert, then this might be true.

Solo Entrepreneur Reality: As well meaning as our friends and family can often be, they just aren’t the best way to get honest, objective guidance. Instead, seek out folks that have specific knowledge that will help you, are willing to be candid with you, and that have a genuine interest in helping you succeed. A business coach is one resource to consider!