Written By Ted Fangos, Victory Business Coaching
SlowEconomyStrategies.com
As a business coach, It’s my job to be a positive influence on my clients… but I guess even I have to admit this economy is getting to be... lets just say, a bit challenging.
One of the biggest mistakes I see business owners make during a downturn is pulling back on marketing & advertising. Are you kidding me? I understand your cash flow may be down (we’ll address that in a minute) but this economic situation can be great time for your company in the long run if we apply a little strategy. (Luis Mago would be so proud of me for saying that!) The companies who figure out how to grow (and last) now, will have much less competition when this is over.
Marketing Awareness
Do you remember when Robert Di Niro asked the mirror in Taxi Driver… “Are you talkin’ to me”? Well, unfortunately I see a lot of marketing and advertising that has potential customers thinking the same thing… And that’s not good. Any vagueness in your marketing is equal to driving down Dixie Highway throwing $20 bills out the window. Remember the cash flow thing? You can reduce your marketing budget and grow your business at the same time by applying…
Strategy #1… Who, What, When, Where, Why, & How?
Who? Who is your target market? I don’t mean male or female between the ages of blank. I mean take some time and write a paragraph describing in detail what your customer looks like.
Ex: Small business owner with 2 to 10 employees, in business for 2 or more years, 50 years old or older, with 2.5 kids in or getting ready for college, a nice big fat mortgage, nice cars, perhaps a boat, a spouse who loves to shop and take nice vacations and is looking forward to a fun retirement. You think I’m kidding? Tell me that person doesn’t have a burn to build a business that will prosper him/her for lifetime. The point is, do you see how a vivid description like that will help me direct my marketing like a laser to the correct people?
What? What (exactly) do they buy from you? If you are a realtor, do the buy a house from you? No, they buy it from the owner, right? What they pay you for is to be their consultant, their expert, their advocate to make sure they don’t make any big mistakes etc. Does your marketing convey that??? Write a paragraph applying this to your product or service and watch what happens to your sales!
When? When do they look for you? What has to be happening in their lives at the moment when they start thinking they need you! Pending retirement, new baby, marriage, children’s college, broken lawn mower, dirty pool… get it. If you think hard about this one, you can invest in your marketing when it makes the most sense and pull back a little at times to conserve capital without losing too much. Where I come from, hardware stores don’t buy newspaper ads for snow shovels in July… do you?
Where, Why, & How are really cool…
to be continued…
Victory Business Coaching helps small business owners grow their companies with world class strategies for Marketing, Sales, Employee Motivation, Time Management, Financial Analysis and more… delivered in a format that is designed to be affordable for a small business budget. www.VictoryBusinessCoaching.com
Monday, September 29, 2008
Monday, September 15, 2008
What is Fear Anyway?
Written by: By Mario Anthony Salvi
Let’s face it: fear is the number one thing that stops most people from achieving their goals.
Although fear can be a healthy response to some real-life situations and dangers—such as muggers, bears or fires—in most cases, fear is a response to the worry and uncertainty we conjure up in our imaginations. What is fear anyway? Encarta defines fear as: “an unpleasant feeling of anxiety or apprehension caused by the presence or anticipation of danger.” The second definition is: “an idea, thought, or other entity that causes feelings of fear.” In any definition of fear, the key word is: “feeling.” Actually, fear is usually nothing more than misguided feelings, based on a misuse of the imagination you were given.
To overcome your fears, first you need to understand the way your fears are coloring your perception of the world, and how that perception is affecting your reality. You must understand where your fears are showing up in your life, and how they’re stopping you from achieving your goals. If you truly want to turn your dreams into reality: you must step out in front of the fears that are limiting you, you must take the risk to move outside your comfort zone, you must move yourself from the unconscious to the conscious. Acknowledge your fears, but don’t focus on them. If you’re willing to identify your fears, acknowledge how they’re stopping you in your life and work to overcome them without avoiding them—you will unlock the door to a successful life.
People don’t become heroes because they have no fears; people become heroes because they face their fears and move beyond them. Every time you see a dark door that you’re afraid to open because it might be dangerous, face your fear and open it: success lies waiting just inches away, on the other side. When you walk through that door, you will become the hero of your own story.
Let’s face it: fear is the number one thing that stops most people from achieving their goals.
Although fear can be a healthy response to some real-life situations and dangers—such as muggers, bears or fires—in most cases, fear is a response to the worry and uncertainty we conjure up in our imaginations. What is fear anyway? Encarta defines fear as: “an unpleasant feeling of anxiety or apprehension caused by the presence or anticipation of danger.” The second definition is: “an idea, thought, or other entity that causes feelings of fear.” In any definition of fear, the key word is: “feeling.” Actually, fear is usually nothing more than misguided feelings, based on a misuse of the imagination you were given.
To overcome your fears, first you need to understand the way your fears are coloring your perception of the world, and how that perception is affecting your reality. You must understand where your fears are showing up in your life, and how they’re stopping you from achieving your goals. If you truly want to turn your dreams into reality: you must step out in front of the fears that are limiting you, you must take the risk to move outside your comfort zone, you must move yourself from the unconscious to the conscious. Acknowledge your fears, but don’t focus on them. If you’re willing to identify your fears, acknowledge how they’re stopping you in your life and work to overcome them without avoiding them—you will unlock the door to a successful life.
People don’t become heroes because they have no fears; people become heroes because they face their fears and move beyond them. Every time you see a dark door that you’re afraid to open because it might be dangerous, face your fear and open it: success lies waiting just inches away, on the other side. When you walk through that door, you will become the hero of your own story.
Sunday, September 7, 2008
I'll Give it a Try
Written by: Greta Schultz
Have you ever tried to pick up a pencil? Have you ever tried to take a drink of water? Of course not. You just do it.
Here’s another news flash: lack of commitment is why many salespeople fail. Their clients, too.
“I tried” is the lamest excuse I’ve ever heard, and I’d like to illustrate this point using the example of advertising.
There are approximately 120,000 salespeople selling some form of advertising in America. Each of those sales people will make “prospecting calls” to an average of three business owners per day. One business owner out of twelve will say “Well, maybe it does make sense for my business. I’ll go ahead and buy a small schedule and ‘give it a try’. And if it works, I’ll use your station/ paper product / (fill in the blank) on a regular basis.”
Sounds pretty good, right?
It’s one of the dumbest things I’ve ever heard. Let me share a similar example with you to prove my point. Let’s say you’re in Vegas. You’re standing at the roulette table thinking “I’m going to place a small bet on black and if I win, I’ll start betting black on a regular basis.”
Sounds ridiculous, doesn’t it?
There are thousands of business owners who make the decision to “give it a try” every day. And most of them experience poor results. Are they disappointed? Yes. Surprised? No. Because they have “given it a try” before, with very limited success.
Why would business owners do what they’ve done before, but expect different results? Because bad salespeople taught them to. Not every product or service works this way. But if you’ve ever heard the old adage “over promise and under deliver,” you’ll get the same result.
“I’ll give it a try” or “Let me test the waters” are the signature phrase of an uncommitted customer. I think we’d be hard pressed to find them experiencing a high degree of reward from their efforts because there is non. With risk comes reward. Show me a committed and focused client and I’ll show you success in the making.
Have you ever tried to pick up a pencil? Have you ever tried to take a drink of water? Of course not. You just do it.
Here’s another news flash: lack of commitment is why many salespeople fail. Their clients, too.
“I tried” is the lamest excuse I’ve ever heard, and I’d like to illustrate this point using the example of advertising.
There are approximately 120,000 salespeople selling some form of advertising in America. Each of those sales people will make “prospecting calls” to an average of three business owners per day. One business owner out of twelve will say “Well, maybe it does make sense for my business. I’ll go ahead and buy a small schedule and ‘give it a try’. And if it works, I’ll use your station/ paper product / (fill in the blank) on a regular basis.”
Sounds pretty good, right?
It’s one of the dumbest things I’ve ever heard. Let me share a similar example with you to prove my point. Let’s say you’re in Vegas. You’re standing at the roulette table thinking “I’m going to place a small bet on black and if I win, I’ll start betting black on a regular basis.”
Sounds ridiculous, doesn’t it?
There are thousands of business owners who make the decision to “give it a try” every day. And most of them experience poor results. Are they disappointed? Yes. Surprised? No. Because they have “given it a try” before, with very limited success.
Why would business owners do what they’ve done before, but expect different results? Because bad salespeople taught them to. Not every product or service works this way. But if you’ve ever heard the old adage “over promise and under deliver,” you’ll get the same result.
“I’ll give it a try” or “Let me test the waters” are the signature phrase of an uncommitted customer. I think we’d be hard pressed to find them experiencing a high degree of reward from their efforts because there is non. With risk comes reward. Show me a committed and focused client and I’ll show you success in the making.
Friday, September 5, 2008
Planning For The Unexpected This Hurricane Season
Written by: Margo Herget, Insurance Repair Specialist, Inc.
Did you know when disaster strikes 43% of businesses never reopen?23% of companies close within a year?17% of companies close within two years?Many businesses today have developed a written disaster pre-plan that deals with various issues in the event of a hurricane or other disaster, such as the evacuation of an occupied building and the prevention of lost data.Why is such a document important? When a business is affected by a disaster there are suddenly a number of critical issues that must be dealt with and pressing decisions to make very quickly. How much damage has occurred? Will data be damaged or lost? How will the business be affected? Will revenue be severely impacted? Can anyone rebuild the damaged property? How long will it take to get the business up and running again? A disaster pre-plan can answer these questions and will give the building or business owner peace of mind.A disaster pre-plan is essentially a guide for what to do when something happens that can impact either the continued operation of a facility or a tenants business or occupancy. It is a condensed policy book for facility managers and business owners that clearly outlines what to do in case of a loss. It is also a quick, easy reference for those who need to be notified in the event of a disaster, complete with their contact numbers and who to call immediately for emergency service.The types of disasters covered by pre-plans can be anything from vehicle impact damage or water damage arising from any number of causes, from an ice maker waterline leak to a major sprinkler malfunction .Other types of damage could include fire damage, ranging from equipment smoke odor to a major structural fire, or a natural disaster such as a hurricane, tornado, or flood.A disaster pre-plan is needed by any facility that has customers or tenants that may be lost because a facility is closed down, or by any business that would be adversely affected by a protracted interruption caused by a natural or man made disaster. Essentially, a disaster plan is needed at every owned or managed facility, and by extension, any insured facility.If a business facility is shut down, it means loss of service, production, and/or rent and that means the loss of customers. In addition, most insurance policies require that the business owner or tenant do everything possible to minimize the loss and prevent further damage from occurring.
A key element to any written pre-plan should include pre-selecting a multi-faceted restoration contractor. A full service restoration company should offer facility managers and business owners a complete solution for disaster pre-planning and emergency response and should have all the experts necessary at their immediate disposal to keep a catastrophe from causing a major interruption to one's business.A highly qualified emergency response contractor will be able to provide business continuity planning, along with performing the technical restoration services required resulting from any damage situation. This includes the capability of providing all essential pre-planning to minimize business interruption and/or the loss of data, and ensuring that post-disaster recovery is addressed effectively and quickly.
Did you know when disaster strikes 43% of businesses never reopen?23% of companies close within a year?17% of companies close within two years?Many businesses today have developed a written disaster pre-plan that deals with various issues in the event of a hurricane or other disaster, such as the evacuation of an occupied building and the prevention of lost data.Why is such a document important? When a business is affected by a disaster there are suddenly a number of critical issues that must be dealt with and pressing decisions to make very quickly. How much damage has occurred? Will data be damaged or lost? How will the business be affected? Will revenue be severely impacted? Can anyone rebuild the damaged property? How long will it take to get the business up and running again? A disaster pre-plan can answer these questions and will give the building or business owner peace of mind.A disaster pre-plan is essentially a guide for what to do when something happens that can impact either the continued operation of a facility or a tenants business or occupancy. It is a condensed policy book for facility managers and business owners that clearly outlines what to do in case of a loss. It is also a quick, easy reference for those who need to be notified in the event of a disaster, complete with their contact numbers and who to call immediately for emergency service.The types of disasters covered by pre-plans can be anything from vehicle impact damage or water damage arising from any number of causes, from an ice maker waterline leak to a major sprinkler malfunction .Other types of damage could include fire damage, ranging from equipment smoke odor to a major structural fire, or a natural disaster such as a hurricane, tornado, or flood.A disaster pre-plan is needed by any facility that has customers or tenants that may be lost because a facility is closed down, or by any business that would be adversely affected by a protracted interruption caused by a natural or man made disaster. Essentially, a disaster plan is needed at every owned or managed facility, and by extension, any insured facility.If a business facility is shut down, it means loss of service, production, and/or rent and that means the loss of customers. In addition, most insurance policies require that the business owner or tenant do everything possible to minimize the loss and prevent further damage from occurring.
A key element to any written pre-plan should include pre-selecting a multi-faceted restoration contractor. A full service restoration company should offer facility managers and business owners a complete solution for disaster pre-planning and emergency response and should have all the experts necessary at their immediate disposal to keep a catastrophe from causing a major interruption to one's business.A highly qualified emergency response contractor will be able to provide business continuity planning, along with performing the technical restoration services required resulting from any damage situation. This includes the capability of providing all essential pre-planning to minimize business interruption and/or the loss of data, and ensuring that post-disaster recovery is addressed effectively and quickly.
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