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Wednesday, September 5, 2007
Copyright (c) 2007 Mary Foley
You're in a shoe store. You need a pair of pumps for your suit, but what you really want are those gorgeous Marc Jacobs ballet flats that are oh so comfortable. Or, you're looking for a new computer because your old one has just died, again. Sure, you can get a chunky desktop from CostCo at a basement bargain price, but what you really want is a sleek Sony laptop with a flat-screen monitor that will look great in your office and has the horsepower you need.
Chances are you walked out with the Marc Jacob ballet flats, the Sony laptop, AND the sensible pumps because you want to feel confident for your client meeting next week. You buy just like everyone else does ? you get what makes you feel good. And, you buy it from people and companies who make you feel like you made a great choice.
When it comes to your customers, feeling good is the difference between "Deal" or "No Deal".
Most entrepreneurs believe that people buy because of price or quality or some other reason that's based on logic and thought. Just think about some of the headlines you hear. "At our dealership you'll get the lowest prices in town!" "Service is our number one quality." But, according to neurologist Donald Calne, rational thought is not the ticket. His studies have found that "The essential difference between emotions and reason is that emotion leads to action while reason leads to conclusions."
Translation: Customers buy from emotion and back it up with their head. You can appeal to your customer's intellect with some great facts and figures about what you'll deliver, but unless those facts and figures trigger an emotional response ? the one that says "buy" ? you haven't made the sale.
Branding is the key to unlocking your customer's emotions because a brand is all about a person's gut feeling about your company, product or service. Create a strong brand with a strong emotional experience that attracts your target customer and you're on your way to "deal", "deal", "deal", over and over again.
One of our clients, Janet, didn't think she had a brand or that it much mattered. She came to us with an accounting business for small to mid-sized companies where she handled their book keeping, payroll, tax reporting and preparation. She was doing okay, had a decent client list and was making a living, but she wanted more. She wanted to significantly grow her business and was trying to figure out how.
She knew accounting was boring for most people and didn't think she could engage her customers' emotions. Au contraire. Accounting may be boring for most but the relief and security that a competent, detailed team is taking care of the arduous, necessary file keeping, paperwork, and reporting for your business is far from being a snoozer. Freed up from these tasks, a business owner can get on with servicing customers and growing their business.
With the core emotions of relief, security and success in mind, we worked with her on her brand, and her accounting business went from boring to bodacious. She updated her company name from "Ledgers First" to "Accounting Success" and created the tagline "Easy Accounting Solutions for Small Business Success" to express the emotional result of having your company record keeping managed for you. She worked with a graphic design team to create a new logo and look for her website.
We helped her craft an offer to attract new clients that appeals to transforming their accounting burden into business growth. She bundled her services into three accounting service packages that make it easy for customers to understand and choose. Plus, she converted her in-house accounting software templates into products to lessen the burden for self-proclaimed do-it-yourselfers. And, she included her staff in the creative process so that they were hooked on the new brand feeling as well.
The results: Existing customers expanded their service agreements and happily referred other small business owners. She attracted new customers at a growth rate she hadn't seen in years. And, everyone - her customers, her team, and she herself - can easily wrap their heads and hearts around who they are and what they do. All because her brand emotion was defined and everything was connected to it.
What's the emotional pull of your business? Do you have a defined brand that speaks to your target customer's heart as well as their head? The difference may seem subtle, but the results are not. It's the difference between how many times you hear "Deal" or "No deal".
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Mary Foley and Cheryl Thompson, the bodacious branding and marketing experts, are dedicated to helping women with small businesses achieve big dreams. Their mission is to show women how to get the customers they want who will pay them the money they deserve. Get their ?52 Ways to Make Branding & Marketing Easy!? absolutely free at http://www.BusinessSuccessForHer.com .
3 Easy Ways to Boost Your Business With Networking
Everybody is in agreement that in business, networking plays a determinant factor in your growth and your success. So why do so many people jump from one networking event to another without any results and complain that networking is not working?
Networking is a way of life. It is one of the fastest ways to grow your business and one of the most cost-efficient marketing tools.
Here are 3 easy and low cost ways to maximize your networking results:
1 - Follow-up
Usually, people like big events. They feel great when they enter a room packed with people. Big events are great if your goal is to get a bunch of business cards, but not if you are trying to get business. What do you do with all those cards? Be honest, most people put them on their desk or in a shoe box, eventually enter the information on their rolodex, but donât do anything with them. Why? Because they collected so many that they are overwhelmed and donât know how or where to start.. They just donât have a follow-up system.
Statistics show that we need to hear or see a message at least 7 times in order to notice it. So if you follow up only 2 or 3 times you are losing business. A networking event is a way of introducing yourself and starting a relationship with the people you meet. It is definitely not a place to sell. That is why so many people are confused â they missed the point and wanted to sell right away. You may get a client after an event but usually networking takes time, patience and consistency.
That is why it is important not only to have a follow-up system but to have a 7 step follow-up system in place.
⢠Send an email in the next 24 hours.
⢠Send a thank you note (in this age of technology, sending a handwritten thank you note will make you stand out from the crowd).
⢠Send a postcard
⢠Send articles or information related to their industry
⢠Use direct mail
⢠Send a newsletter
⢠And of course, call them
Be creative in order to follow-up and differentiate yourself from others, especially from your competitors. Stand out from the average entrepreneurs. Be unique!
2 â Join a networking group. Choose the best format for you.
Personally I prefer small events because I get more business out of it. That is why with Biba4Network most of my events are limited to 15 people. Even if sometimes I organize mixers - where I have 30 to 60 people - as a way of spreading the word and bringing everybody together. But small groups allow you to: start a relationship right away, have the time to really introduce yourself and your business, which is more efficient than speaking with somebody for 3 seconds, giving your card to them and then going on to the next person.
Recently, I attended an event, where there were about 80 people. I thought I was actually joining a more intimate group but it was too late to leave. So I decided that my goal would be to speak with 5 people so that way I would have the time for a real conversation. While I was speaking with somebody, a woman came up to me, interrupted our conversation and said, âI just wanted you to have my card.â She put her card in my hand and left. She didnât introduce herself, tell me her name or find out who I was or what I did. But apparently her goal was to give out as much business cards as she could during the event. Not only is this attitude very rude but it is also totally useless. However, I thought that maybe she was new to networking and didnât know how it works so I gave her the benefit of the doubt. The next day I sent her an email to follow-up, to get a chance to learn more about her business. Guess what! She never returned my email and of course never called. So what is the purpose? No wonder so many people say that networking is not working.
To achieve better results in networking, join a minimum of two groups and commit to it instead of trying to go to every event and meet people only once. Being committed to a group will help you to build a relationship, learn about people, trust them and then do business with them. When you get to know and trust them you will either work with them directly if you need their products or services, or you will give them referrals because you know that if you send people to them they will be satisfied with the result. And you donât want to be in a position to refer somebody to someone else whose work is bad, as this will have a negative impact on your reputation.
3 â Create strategic alliances
Would you rather meet a thousand people, one at a time, or meet a few people who will each introduce you to a thousand. Most people see networking events as a place to get contacts one at a time or make one sale at a time.
Now think about this. What about looking for people who have the same target market as you, but are not your competitors, and offer great complementary products or services to you. So that working with them will be a great opportunity to access their clients or mailing list. You can cross-promote each other, you can organize events together, you can do a mailing campaign together, it is a win/win situation.
Letâs say you partner with 2 new entrepreneurs a month and have access to their rolodex. I am not saying that they will sell you their list of clients or prospects, but through them you can get exposure to their clients or prospects. If they have one thousand, two thousand, or even twenty thousand people on their mailing list, instantly, you have access to those thousands of people.
For example, when I mentioned on my Biba4Network newsletter, âBiba Recommendsâ the business that I am promoting to get exposure to the two thousand people on my list.
People pay more attention because I am the one who recommended the product or service. The people on my list know me and trust me, so they will check and learn more about this product or service. It is more effective than if you just put out a regular ad. And at the same time the business I am promoting is promoting my products and services on their newsletter and I get exposure too, to thousands of people that I donât even know.
That is what I show in my program âThe Power of Networkingâ. Instead of looking for one prospect or one client at a time, look for people or businesses you can partner with. Make a list of the businesses who are complementary to yours, to create strategic alliances with. Strategic alliances are one of the fastest ways to grow your business.
When you use networking that way, then you donât need to meet everybody in the room. The only thing you need is to find a couple of potential strategic alliances. Look for quality instead of quantity. That is what happens at my events and all the testimonials of memberâs success stories come from: first, people who commit to attend the monthly meetings, second from people who create partnerships, work together and promote each other. That is how some of my members were able to grow their businesses by 30% in less than 3 months.
Stop wasting your time attending every event and start growing your business with networking, learn more about âThe Power of Networkingâ. In this 5 step program, you will find everything you need on how to maximize your networking results.
You will learn: how to create an outstanding business card â how to polish an elevator pitch which will hook your audience so that people will remember you â how to create a 7 step follow-up system to turn more prospects into clients â how to use your newsletter to promote your products or services without hard selling â how to create strategic alliances to grow our business faster. You can read more about it and get your copy of âThe Power of Networkingâ at http://www.powerofnetworkingsecrets.com
(c) 2006 Biba F. PĂŠdron
About the author
Biba F. PĂŠdron, also known as The Connection Queen, is a marketing consultant, founder of Biba4Network, that specializes in networking for small business owners in the greater New York area. Biba helps entrepreneurs to maximize their networking results so that they can grow their businesses faster.
Biba is the author of âStart Your Dream Business Today! The Proven 11 Steps to Start and Grow Your Own Businessâ. http://www.startyourdreambusinesstoday.com
For more information or to receive free tips like this one, please visit
http://www.TheConnectionQueen.com
The 12 Most Common Mistakes New Entrepreneurs Make & how to avoid them
A large number of people who start their own business do not realize how much work and time will be involved. They fail to carry out any primary research and as a result become quickly overwhelmed.
Perhaps the first question to ask yourself then is whether you are in fact ready to start your own business. Do you have an entrepreneurial mindset? Are you committed to spend all the time you need to succeed? And are you ready to take massive action?
At first, you will have to wear many different hats; you will be the CEO, the general manager, the accountant, the salesperson, the computer technician, the secretary, the receptionist. You must therefore prepare yourself because there will be days when you are disappointed, depressed, or frustrated. You have to realize that success will not happen overnight. And it may take a year or two before you achieve your expected results.
To avoid these disappointments, here are âThe 12 Most Common Mistakes New Entrepreneurs Make & How to Avoid Themâ:
Mistake # 1 - Failure to spend enough time researching the business idea to see if it's viable
Numbers of new entrepreneurs have often failed because they were not truly interested in the business; they were more interested in making money. It is important to start something that you really like, because you will be spending a lot of time on it.
Your assignment â Spend all the time you need working on your business plan, which should include: your mission statement, your business strategy, research on your target market (demographics), industry analysis (size, economics, trends, success factors, challenges, etc.), your marketing plan, your financial projections and sales.
Mistake # 2 - Failure to determine whether the business actually adds value
The most sustainable businesses, those that withstand the test of time, provide value by performing a service that people need.
Your assignment â Make sure your products or services provide value and benefit to your clients. Be ready to solve any business problems that your clients may have.
Mistake # 3 - Failure to gain a complete and total understanding of the business
Every business has drivers; hot buttons and key levers. What drivers exist in your business?
Many business leaders, executives and management consultants would say that success largely depends on attention to detail.
Your assignment â Understand all the aspects of your business, and of particular importance, know how to present them in an easy and simple manner.
Mistake # 4 - Failure to describe the business in only one or two sentences
No doubt youâve experienced the entrepreneur whose business is so technical or complex that he cannot explain the concept in plain English. Or, it takes 20 minutes to convey the purpose of the business. What value or benefits does your business offer?
Your assignment â Have an efficient 15 to 60 second elevator pitch that introduces you, your businessâ mission, focuses on the benefits you provide and makes you and your business memorable.
Mistake # 5 - Failure to conduct the primary research
There are many great ideas you can latch on to, but the key in business is to make sure the ideaâthe central theme or mission of your business ventureâcan attract customers and generate sales and profits. A great idea in and of itself is not enough to start a business.
Your assignment â Take the time to gain experience, study the business, understand what makes the business work (how to serve the customers and generate profits) and what leads to losses.
Mistake # 6 - Failure to contact professionals who can help you get started
Numbers of new entrepreneurs ask their friends and family for advice when starting a new business. The problem is that they often ask people who have never started a business; so in reality, these people are not in a position to offer sound advice.
Your assignment â Get a mentor or two. Surround yourself with experts who possess skills and expertise that you lack. Team up with professionals who can complement your strengths and cover for your weaknesses.
Mistake # 7 â Failure by underestimating financial requirements
Do you know how much capital you need to start your business? Do you know the market, did you calculate your cost, did you project your sales, do you know the number of clients you need? Do you know how long it will take before you get your first benefits or before you will run out of money?
Your assignment â Invest the time to work on ALL aspects, especially the major ones, of your business before you start.
Mistake # 8 - Failure to make marketing a priority
Many new entrepreneurs start their business without determining their target, niche and demography first and as a result have failed to attract any clients. Marketing should be one of your top priorities. Devising a marketing plan will help you determine how to promote your products or services and create a system that will generate more clients for your business.
Your assignment â Dedicate a good portion of your time and energy to working on and implementing your marketing plan. Set up a meeting with yourself once a week to work on your marketing plan and whatever happens never cancel this meeting; it is essential for your business.
Mistake # 9 â Failure by under-budgeting the marketing costs
Today the world is overcrowded with businesses and probably a number of those in your market perform essentially the same functions as you do. This means that you have to differentiate yourself from them by making your business stand out. Publicity is essential to your livelihood; otherwise you will not attract any customers.
Your assignment â Make sure you have a strategy that puts the word out there. Provide adequate publicity, business cards and marketing materials that project a professional image. Donât try to save money on these; they are reflecting your business. A cheap business card or flyer will not make a professional impact.
Mistake # 10 - Failure to focus on the business
Many new entrepreneurs are energetic and enthusiastic people (which is essential to success), but they can also be overly optimistic and pursue too many targets and directions at once. This typically results in mediocre results. Define your businessâ mission as succinctly and narrowly as possible. When you move in too many directions at once, especially in the early days of your business, you are likely to fail to execute anything correctly; so you end up working âon the businessâ instead of âin the business.â In other words, you will spend all your time operating each task on your own. You wonât have the time to sit back, and decide on the best way to develop your own marketing plan, create new products, or improve your services.
Your assignment â Know you goals. Put them in writing. Make sure they are realistic, specific and measurable and that you set yourself a deadline to achieve them.
Mistake # 11 - Failure by over-marketing
Once you have developed your product or service and have perfected your offering, you may think that your offering is the best in your marketplace. But unfortunately, to be efficient you canât sell to everyone. You need to select a specific target market and stick to it. By doing this you will have a more efficient message and will more likely achieve success much sooner.
Your assignment â Carefully determine your niche, your demography, your ideal clients, where they go, what they read, what their hobbies are, etc. Once you have a full understanding of your clientâs profile you will then have a full understanding of how and where to find more of them.
Mistake # 12 - Failure to follow-up with clients
Many new entrepreneurs are often so desperate to constantly find new clients that they neglect the clients they already have and in fact end up losing business. Statistics show that it takes seven more interactions to secure a new client than to sell more to a repeated client. So develop and maintain a useful and organized follow-up system to offer new services to your clients and donât let them slip away.
Your assignment â Constantly and consistently communicate with your current clients.
Start a newsletter, offer special sales, create new products to upsell, join affiliate programs if you donât have your own products. People who have already bought from you will appreciate it when you recommend other products. Statistics show that up to one out of three clients will take advantage of this new offer. It is essential to build a very, very special relationship with your clients. They are your best audience.
If you have a business idea, but are unsure how to get started, or already own a business, but have not yet achieved the results or success you were hoping for, check out my book: "Start Your Dream Business Today! The Proven 11 Steps to Start and Grow Your Own Business", a simple yet informative and easy to follow step-by-step guide to everything a new entrepreneur should know when starting a business.
Get it today by going to www.StartYourDreamBusinessToday.com. Youâll also get lot of other ideas and resources to help YOU Start Your Dream Business and I will save you time and lot of money, as I did for my clients.
Š 2006 Biba F. PÊdron
About the Author
Biba F. PĂŠdron, is a marketing consultant, founder of Biba4Network, that specializes in Networking for small business owners in the greater New York area; and Focus on Career, which helps solo entrepreneurs start and grow their businesses.
Biba is the author of âStart Your Dream Business Today! The Proven 11 Steps to Start and Grow Your Own Businessâ. http://www.startyourdreambusinesstoday.com
For more information or to receive free tips like this one, please visit http://www.biba4network.com
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