What is the purpose of a business? Every time I ask this question during a business seminar, the immediate answer that I get back is, “To make a profit.”
The Real Purpose of a Business
But this answer is wrong. The purpose of a business is to create and keep a customer.
If a business successfully creates and keeps customers in a cost-effective way, it will make a profit while continuing to survive and thrive. If, for any reason, a business fails to attract or sustain a sufficient number of customers, it will experience losses. Too many losses will lead to the demise of the enterprise.
Why Businesses Fail
According to Dun and Bradstreet, the single, most important reason for the failure of businesses in America is lack of sales. And, of course, this refers to resales as well as initial sales.
So your company’s job is to create and keep a customer, and your job is exactly the same. Remember, no matter what your official title is, you are a salesperson for yourself and your company. And the best way to increase your value as a salesperson is to build your customer base.
Why Businesses Succeed
The two most important words to keep in mind in developing a successful customer base are Positioning and Differentiation.
Positioning refers to the way your customers think and talk about you and your company when you are not there. The position that you hold in the customer’s mind determines all of his reactions and interactions with you. Your position determines whether or not your customer buys, whether he buys again and whether he refers others to you. Everything that you do with regard to your customer affects the way your customer thinks about you.
The Key to Competitive Advantage
Differentiation refers to your ability to separate yourself and your product or service from that of your competitors. And it is the key to building and maintaining a competitive advantage. This is the advantage that you and your company have over your competitors in the same marketplace - the unique and special benefits that no one else can give your customer.
Select Your Customers Carefully
When you begin to think about acquiring and keeping customers for life, you need to think about the particular types of customers for whom your competitive advantage is so important that they would be poorly served by using anyone else’s product. You need to then emphasize again and again that the special features and benefits you offer are so important that they should not even think of going somewhere else. If, for any reason, you fail to do this, you may lose the customer and all the work you’ve done in building that relationship in the first place.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, determine exactly what your current positioning is today with your customers. How do they think about you and what do they say? How could you improve your positioning?
Second, determine your exact competitive advantage, your area of superiority in what you do. How can you increase in your area of excellence and then convey it better to your customers?
Showing posts with label business. Show all posts
Showing posts with label business. Show all posts
Tuesday, April 17, 2012
Wednesday, September 14, 2011
Be a Negative Optimist
Taper Your Optimism
In order to be successful in business, and in any activity where your money is involved, you must temper your optimism with negativism. You must be enthusiastic about the possible upside of the investment but you must be sceptical, critical, suspicious and demanding about all the different ways that your money can be lost.
Listen to Negative Viewpoints
Seek out and listen carefully to people who are negative towards your idea. Look for negative thinkers, because their viewpoints can be invaluable and save you a fortune in time and money. I have a friend who is a lawyer. And he recommends and gives advice to many people on investments. And what he does is this. When someone comes and they want to make an investment that he's unsure about, he says, all right, I want you to come to my office and I want you to sit behind my desk. And then I'm going to come in and I'm going to present this investment to you and I want you to critique this investment as if you were me.
Help Others to Evaluate Honestly
And he says that when his clients begin critiquing the investments they're thinking about going into, when they begin becoming negative thinkers about the investments, he says they are astonished at how bad the investments really are. He said he has saved his clients millions of dollars by forcing them to be negative thinkers about their own ideas, simply by switching roles and sitting in front of the desk while they sit behind the desk.
Keep Your Mind Open
But don't be overly influenced by negative thinkers. Just take their viewpoints into consideration. There's a famous story of Mary Hudson, who started off with 200 dollars in the middle of the Depression and leased a gas station that two men had gone broke running at two different occasions. And from that she built a company called Hudson Oil, which is now the biggest independent distributor of gas and oil in the United States. From a 200 dollar investment, even though everybody told her she would fail. So remember, listen to negative thinkers, but don't necessarily accept their advice.
Action Exercises
Here are two things you can do immediately to get these ideas into action.
- First, view your idea as if you were an outside consultant. Ask, "What are all of the possible risks or flaws in this cause of action?"
- Second, seek out the opinions of others. Listen without responding or defending. Thank them for their input. They may save you a lot of money.
Thursday, June 30, 2011
Does Your Property Need a Website Design Makeover?
People always say, “don’t judge a book by its cover.” Well, it sounds nice, but people usually don’t take the advice, and often do judge a book by its cover. Whether it’s right or wrong is another topic, but it happens for all sorts of things, including hotel websites.
Based on an instant feeling from the look and feel of your property’s website, a travel shopper can move on faster than the speed of light. This is the worst case scenario for any property. After all, the shopper’s interest is not the only thing lost. You can kiss increased online bookings, revenue, branding and potential guest loyalty goodbye.
Let’s review five signs that your site needs a makeover. If none of these apply to your property, you’re in good shape. If any of them do apply, it’s time to make some tweaks.
Five signs that scream YES!
1) Dated Imagery
How current are the photos on your website - have they been updated in the last year or two? Have your property’s rooms recently been remodelled?
Photos, especially if they’re rotating in flash or the largest feature on the page, are what visitors notice first, meaning photos should constantly be up to date and professional. If a visitor sees photos of a dim, empty lobby and a room with old TVs and fixtures, it may immediately cause them to start their search over. And hiring a professional photographer is usually worth it in the long run. The difference between professional photos and random photos taken by the hotel staff can be significant.
2) Non-compelling Imagery
Does you property look empty, with no cars in the parking lot, or zero guests walking the grounds? Does your property have vibrant photos of local attractions – whether it’s the outdoors, shopping areas, theme parks, etc.?
Your property’s website should have exciting, professional photos at all times, especially on the homepage, since it’s seen by nearly 100% of your website visitors. Don’t have two rotating photos of an empty lobby and a bed. Have four rotating photos of guest/staff interaction in the lobby, a wide angle of one your best rooms, an active pool that show guests relaxing, and most importantly, a photo of nearby local attractions, such as people enjoying a theme park, businessmen interacting at a convention centre or hikers enjoying the outdoors.
3) Non-engaging Content
Does your site’s content instantly spark interest in the travel shopper?
With the short attention span of consumers and the assault of ads and content they’re exposed to, they hardly ever read an entire page worth, but they do at least skim it… after they’ve been engaged with the imagery of course.
Besides the fact that your content has to be written with keywords and key phrases to help with search engine rankings, it’s crucial that it sells what the travel shopper wants. If you’re a luxury resort, you should sell the luxuries and amenities of your property – things like a spa and room service. You should also, even on the homepage, have relevant content about local attractions or demand generators. Often times, guests search for a property with close proximity to a place or event, not just for the property itself. If you’re located within a mile from the zoo or a botanical garden, emphasize that in your content. Capitalize on your proximity to the attractions, and try to form an emotional connection with the shoppers immediately.
4) Poor Navigation
Is your site map organized in a manner that’s easy for visitors to navigate?
Once a visitor sticks on your website, easy navigation is a must. First and foremost, no matter where a visitor navigates to, there should always be a clear link directly back to the homepage. Think about the goals of your website, and make sure the most important links are prominent and easy to reach from anywhere.
Second, the booking engine should be a distinct call to action on the homepage, always above the page break. Visitors should be able to quickly select a date range and click search. Third, don’t have too many sub pages on different levels. If a visitor clicks on “Event Space” from the homepage, gets to a second page, clicks on “Ballroom,” gets to a third page and clicks on “Weddings,” before clicking to yet another “Bride and Groom” page, then it’s too deep in the navigation. A visitor should never have to go through more than two or three clicks from the homepage to navigate anywhere on your site.
5) Alarming Website Statistics
Are travel shoppers staying on your site longer and viewing more pages than they did last year? Is your site ranking higher in the search engines for crucial keywords and phrases? Is your overall site traffic growing?
All of these questions and more need to be answered regularly at your property. Review how shoppers find your site, which pages they are visiting and how much time they’re spending there. Look at your Web analytics, and learn what every statistic means to your bottom line. These are key indicators about how well you’re engaging shoppers, and how you can improve your site to increase online bookings. An overall “health review” of your site should be done quarterly.
So, your site does or doesn’t need a makeover…
Now that you’ve thought more about your property’s website and considered the aforementioned five potential issues, how do you feel about your site? Does it need a design and/or layout makeover. Do you feel your visitors are engaged with photos and content and compelled to book? Your website is your 24/7 sales tool, so it must be up to par to consistently fill the rooms.
If your property clearly does not have any of these five issues, chance are, the design and layout is in excellent shape. But if any of these signs ring true, whether it’s one or all five, it’s probably time for a site revision, including updated images and content and a professionally diagrammed layout.
This is where hiring an hotel Internet marketing company would be beneficial. A content management system that allows you to make updates to the site without much design or technical knowledge is also a cost-effective, beneficial option. Because after all, improving your site will only help increase the time visitors spend on it, which will in turn, boost your direct online reservations.
For more information about website design and development, speak to one of the marketing consultants at TA Fastrack today on 07 3040 3588.
Based on an instant feeling from the look and feel of your property’s website, a travel shopper can move on faster than the speed of light. This is the worst case scenario for any property. After all, the shopper’s interest is not the only thing lost. You can kiss increased online bookings, revenue, branding and potential guest loyalty goodbye.
Let’s review five signs that your site needs a makeover. If none of these apply to your property, you’re in good shape. If any of them do apply, it’s time to make some tweaks.
Five signs that scream YES!
1) Dated Imagery
How current are the photos on your website - have they been updated in the last year or two? Have your property’s rooms recently been remodelled?
Photos, especially if they’re rotating in flash or the largest feature on the page, are what visitors notice first, meaning photos should constantly be up to date and professional. If a visitor sees photos of a dim, empty lobby and a room with old TVs and fixtures, it may immediately cause them to start their search over. And hiring a professional photographer is usually worth it in the long run. The difference between professional photos and random photos taken by the hotel staff can be significant.
2) Non-compelling Imagery
Does you property look empty, with no cars in the parking lot, or zero guests walking the grounds? Does your property have vibrant photos of local attractions – whether it’s the outdoors, shopping areas, theme parks, etc.?
Your property’s website should have exciting, professional photos at all times, especially on the homepage, since it’s seen by nearly 100% of your website visitors. Don’t have two rotating photos of an empty lobby and a bed. Have four rotating photos of guest/staff interaction in the lobby, a wide angle of one your best rooms, an active pool that show guests relaxing, and most importantly, a photo of nearby local attractions, such as people enjoying a theme park, businessmen interacting at a convention centre or hikers enjoying the outdoors.
3) Non-engaging Content
Does your site’s content instantly spark interest in the travel shopper?
With the short attention span of consumers and the assault of ads and content they’re exposed to, they hardly ever read an entire page worth, but they do at least skim it… after they’ve been engaged with the imagery of course.
Besides the fact that your content has to be written with keywords and key phrases to help with search engine rankings, it’s crucial that it sells what the travel shopper wants. If you’re a luxury resort, you should sell the luxuries and amenities of your property – things like a spa and room service. You should also, even on the homepage, have relevant content about local attractions or demand generators. Often times, guests search for a property with close proximity to a place or event, not just for the property itself. If you’re located within a mile from the zoo or a botanical garden, emphasize that in your content. Capitalize on your proximity to the attractions, and try to form an emotional connection with the shoppers immediately.
4) Poor Navigation
Is your site map organized in a manner that’s easy for visitors to navigate?
Once a visitor sticks on your website, easy navigation is a must. First and foremost, no matter where a visitor navigates to, there should always be a clear link directly back to the homepage. Think about the goals of your website, and make sure the most important links are prominent and easy to reach from anywhere.
Second, the booking engine should be a distinct call to action on the homepage, always above the page break. Visitors should be able to quickly select a date range and click search. Third, don’t have too many sub pages on different levels. If a visitor clicks on “Event Space” from the homepage, gets to a second page, clicks on “Ballroom,” gets to a third page and clicks on “Weddings,” before clicking to yet another “Bride and Groom” page, then it’s too deep in the navigation. A visitor should never have to go through more than two or three clicks from the homepage to navigate anywhere on your site.
5) Alarming Website Statistics
Are travel shoppers staying on your site longer and viewing more pages than they did last year? Is your site ranking higher in the search engines for crucial keywords and phrases? Is your overall site traffic growing?
All of these questions and more need to be answered regularly at your property. Review how shoppers find your site, which pages they are visiting and how much time they’re spending there. Look at your Web analytics, and learn what every statistic means to your bottom line. These are key indicators about how well you’re engaging shoppers, and how you can improve your site to increase online bookings. An overall “health review” of your site should be done quarterly.
So, your site does or doesn’t need a makeover…
Now that you’ve thought more about your property’s website and considered the aforementioned five potential issues, how do you feel about your site? Does it need a design and/or layout makeover. Do you feel your visitors are engaged with photos and content and compelled to book? Your website is your 24/7 sales tool, so it must be up to par to consistently fill the rooms.
If your property clearly does not have any of these five issues, chance are, the design and layout is in excellent shape. But if any of these signs ring true, whether it’s one or all five, it’s probably time for a site revision, including updated images and content and a professionally diagrammed layout.
This is where hiring an hotel Internet marketing company would be beneficial. A content management system that allows you to make updates to the site without much design or technical knowledge is also a cost-effective, beneficial option. Because after all, improving your site will only help increase the time visitors spend on it, which will in turn, boost your direct online reservations.
For more information about website design and development, speak to one of the marketing consultants at TA Fastrack today on 07 3040 3588.
Friday, June 3, 2011
The Truth About Networking
If you're like most sellers, you detest making cold calls. Just the thought of picking up the phone and calling a stranger sends shivers down your spine. And the brutal fact that nobody ever answers the phone or returns your call, makes it even worse.
That's why so many people are out networking these days. They're looking for connections and ways to establish relationships with prospective buyers first. And referrals - oooh, how we dream of getting someone to put in a good word for us with our ideal client - especially if they work for a big company!
Several years ago, I hit the networking circuit after refocusing my business direction. It was time to expand my client base. Like everyone else, I believed the standard wisdom about the value of networking.
Since I'm not a shy, tongue-tied person, I figured it would be a snap. All I needed to do was:
But I never saw the results I was hoping for. In fact, I barely saw any positive results for all the time I invested in networking.
As someone who thinks a lot about sales-related topics and experiments with all sorts of approaches to see what they yield, I was stymied.
Finally it hit me! If you wanted to do business with large corporations, everything that I assumed to be true about networking was a fallacy.
Here are the 4 biggest myths I uncovered:
Myth 1: Local business organizations and professional associations are great places to meet prospective contacts from big companies.
Reality: People in big companies today rarely attend these functions. Due to all the changes, turmoil and downsizing in their own organization, they have all they can do to stay on top of things.
They're literally too swamped to take time out of their busy days to attend this kind of meeting. They don't want to go to these functions and be hit up by all these vendors who are looking for an "in" to their company. They don't need the education because their own firm provides for that.
Besides, networking for big company decision-makers means meeting with their counterparts in other divisions or attending industry specific events such as trade shows.
If you take a serious look at the groups you're participating in, most all the people who attend are from small to medium sized businesses. That's great, if that's who you sell to.
But if you're trying to work with General Mills, General Electric or General Dynamics - you'll seldom, if ever, see their decision makers at these events.
Myth 2: It takes time to see the results of networking, therefore it's imperative to keep at it.
Reality: Yes, it does take time to see the results. But, if the big company decision makers aren't there - and won't be coming, then you're wasting your time. And the longer you keep at it, the more time you're wasting.
Hope is not a powerful strategy. In fact, it's downright delusional. How many times do you have to beat your head against the wall before you know it's time to stop?
Myth 3: It's important to build relationships with people before trying to talk about your products or services.
Reality: People from big companies don't have time to build relationships first. Much as you may want to, they're too busy. They don't have time to chitchat about golf or family vacations. Get down to business quickly. Focus on your value proposition or ideas that can help them grow their business or save money.
A positive relationship develops over time; it doesn't happen first. Show your value, demonstrate your worth, make a difference. Then these decision makers will really want to have you as a friend.
Myth 4: People you meet at networking meetings are highly likely to refer you to prospective buyers in large corporations.
Reality: Many people you meet at networking meetings are really, really nice. In fact, if you meet them later for coffee or breakfast, you'll have a wonderful conversation. You'll learn even more about what they do and have a chance to share your story in more depth.
And you'll find out that they're hungry for business. Just like you, they're hoping to find that elusive person who will magically fling open the doors of a corporate giant for them. They're hoping for the connection to "just the right person" and a great referral besides.
Believe me, if one of them is ever lucky enough to meet your ideal decision maker, the likelihood that he or she will put in a good word for you is slim to none. They're too busy worrying about how to get their own business.
Besides since they're just getting to know the decision maker, their referral would hold little credence.
That's why so many people are out networking these days. They're looking for connections and ways to establish relationships with prospective buyers first. And referrals - oooh, how we dream of getting someone to put in a good word for us with our ideal client - especially if they work for a big company!
Several years ago, I hit the networking circuit after refocusing my business direction. It was time to expand my client base. Like everyone else, I believed the standard wisdom about the value of networking.
Since I'm not a shy, tongue-tied person, I figured it would be a snap. All I needed to do was:
- Focus on the other person; ask lots of questions and make them feel important.
- Share ideas and resources to help them achieve their objectives.
- And keep in touch so I wouldn't be quickly forgotten.
But I never saw the results I was hoping for. In fact, I barely saw any positive results for all the time I invested in networking.
As someone who thinks a lot about sales-related topics and experiments with all sorts of approaches to see what they yield, I was stymied.
Finally it hit me! If you wanted to do business with large corporations, everything that I assumed to be true about networking was a fallacy.
Here are the 4 biggest myths I uncovered:
Myth 1: Local business organizations and professional associations are great places to meet prospective contacts from big companies.
Reality: People in big companies today rarely attend these functions. Due to all the changes, turmoil and downsizing in their own organization, they have all they can do to stay on top of things.
They're literally too swamped to take time out of their busy days to attend this kind of meeting. They don't want to go to these functions and be hit up by all these vendors who are looking for an "in" to their company. They don't need the education because their own firm provides for that.
Besides, networking for big company decision-makers means meeting with their counterparts in other divisions or attending industry specific events such as trade shows.
If you take a serious look at the groups you're participating in, most all the people who attend are from small to medium sized businesses. That's great, if that's who you sell to.
But if you're trying to work with General Mills, General Electric or General Dynamics - you'll seldom, if ever, see their decision makers at these events.
Myth 2: It takes time to see the results of networking, therefore it's imperative to keep at it.
Reality: Yes, it does take time to see the results. But, if the big company decision makers aren't there - and won't be coming, then you're wasting your time. And the longer you keep at it, the more time you're wasting.
Hope is not a powerful strategy. In fact, it's downright delusional. How many times do you have to beat your head against the wall before you know it's time to stop?
Myth 3: It's important to build relationships with people before trying to talk about your products or services.
Reality: People from big companies don't have time to build relationships first. Much as you may want to, they're too busy. They don't have time to chitchat about golf or family vacations. Get down to business quickly. Focus on your value proposition or ideas that can help them grow their business or save money.
A positive relationship develops over time; it doesn't happen first. Show your value, demonstrate your worth, make a difference. Then these decision makers will really want to have you as a friend.
Myth 4: People you meet at networking meetings are highly likely to refer you to prospective buyers in large corporations.
Reality: Many people you meet at networking meetings are really, really nice. In fact, if you meet them later for coffee or breakfast, you'll have a wonderful conversation. You'll learn even more about what they do and have a chance to share your story in more depth.
And you'll find out that they're hungry for business. Just like you, they're hoping to find that elusive person who will magically fling open the doors of a corporate giant for them. They're hoping for the connection to "just the right person" and a great referral besides.
Believe me, if one of them is ever lucky enough to meet your ideal decision maker, the likelihood that he or she will put in a good word for you is slim to none. They're too busy worrying about how to get their own business.
Besides since they're just getting to know the decision maker, their referral would hold little credence.
Thursday, April 28, 2011
Business Tip: The Law of Positioning
Customer Perception
Every product or service must be perceived positively by the customer before the customer can make any kind of buying decision. The most successful products and services are those that the customer perceives are from the most desirable and trustworthy suppliers of these products or services.
Proper Positioning
With proper positioning, your product or service will be seen by the customers as the product or choice, against which others are compared. Some examples of excellent positioning are Coca-Cola, Kleenex, and Xerox. In each case, these products are the standard. When you refer to a drink, you say, "I feel like a Coke." If you have a runny nose, you ask someone to "get a Kleenex" for you. If you need a copy of a document, you ask someone to "make a Xerox of this." This dominant positioning gives these products an edge in the market, which translates into more and easier sales at higher prices with better profit margins.
Appearance
Every visual element of dress, product, packaging, printing, and promotion creates a perception of some kind. Nothing is neutral. Everything that you do or neglect to do, everything that the customer sees or fails to see, hears or does not hear, contributes to the customer's perception of you and your company. Everything counts.
Position Yourself at the Top
Top salespeople position themselves as the preferred suppliers of their products and services. Everything you do adds to the customer's perception of you as the ideal person to do business with when it comes to buying your particular product or service. The customer will often pay more for a similar product or service for no other reason than that it is you who is selling it and backing it up. Your position in the customer's mind can be so strong that no other competitor can get between you and the customer and replace you. The most successful companies and the more successful salespeople are those who have developed such strong positioning in their marketplaces that they are considered to be the standard against which competitors are compared.
Action Exercise
Determine the words that your customers use to describe you to others. How do they think about you, your products, your services, and your company overall? Do you know? Find out your exact positioning in your marketplace, and then decide what you could do to take maximum advantage of it.
If you would like any advice on your current marketing activities please contact TA Fastrack on 07 3040 3588
Friday, April 8, 2011
What Donald Trump Can Teach You About Direct Marketing
For instance, on the first season of "The Apprentice," the two teams had to come up with an ad campaign for a company that made corporate jets. The planes (complete with flight crew) would be available to clients who wanted to fly in private jets but did not have the budget to buy their own.
In particular, Trump praised one team's campaign, which featured slick color photos of various parts of the jet shot at angles that made them look like phallic symbols.
"Idiot!" I complained to my partner, who was watching the show with me. "The ads should have offered a Membership Card entitling the recipient to take his first 30 minutes of any flight FREE!"
(That's how we direct marketers think. Offer, offer, offer.)
But an episode in the second season of "The Apprentice" was much more encouraging in its demonstration of direct-response principles.
This time, the two teams had the task of putting together and running, for one evening only, a bridal shop in NYC. The contest was simple. Whichever team had the highest gross sales for the evening would be the winner.
Team A printed huge stacks of pink fliers inviting people to their bridal sale. They distributed these fliers by handing them out at Penn Station as morning commuters got off the trains.
Trump correctly questioned the wisdom of Team A's marketing strategy. He asked, "How many people are thinking about getting married when they're on their way to work in the morning?"
Team B took a more targeted approach. They rented an e-list of thousands of women who were planning to get married and e-mailed them an invitation to their sale.
I think you can guess the result.
Team A had only a handful of customers in their shop, sold only two dresses, and grossed around $1,000. Team B had customers lining up on the sidewalk to get into the store, as if it were an exclusive Manhattan nightclub. They sold 26 dresses for gross revenues of more than $12,000, outselling Team "B" more than 12 to 1.
The project manager of Team A was fired by Trump that night.
The lesson for direct marketers is clear: The list is all-important.
In this case, Team B knew that everyone on their list was planning to get married. Team A, by comparison, handed out their invitations to anyone and everyone who happened to be at Penn Station that morning.
How many of those people had any interest in getting married? Was it one out of a hundred? Or maybe one out of a thousand?
The "list" used by Team A had maybe 90% to 99% "wasted circulation." In other words, most of their ads went to the wrong people: those not interested in buying their product. The list used by Team B had maybe 1% or as little as 0% wasted circulation. Because virtually everyone on that list had indicated a planned wedding.
And the result? B outpulled A by approximately 12 to 1 . . . a differential that is not uncommon in actual direct-marketing tests.
Using the best mailing list vs. the worst mailing list can increase your response rate by 1,000% or more. That makes testing different mailing lists perhaps the best marketing investment you can make this year.
If you would like more information about our direct marketing service please click here or speak to one of the Marketing Consultants at TA Fastrack today on 07 3040 3590.
Wednesday, March 30, 2011
Business Tips: Prepare Thoroughly Before You Begin
Have Everything At Hand
One of the best ways for you to overcome procrastination and get more things done faster is for you to have everything you need at hand before you begin. When you are fully prepared, you are like a cocked gun or an archer with an arrow pulled back taut in the bow. You just need one small mental push to get started on your highest value tasks.
One of the best ways for you to overcome procrastination and get more things done faster is for you to have everything you need at hand before you begin. When you are fully prepared, you are like a cocked gun or an archer with an arrow pulled back taut in the bow. You just need one small mental push to get started on your highest value tasks.
Clear Your Workspace
Begin by clearing off your desk or workspace so that you only have one task in front of you. If necessary, put everything on the floor or on the table behind you. Gather all the information, reports, details, papers, and work materials that you will require to complete the job. Have them at hand so you can reach them without getting up or moving. Be sure that you have all writing materials, computer disks, access codes, email addresses and everything else you need to start and continue working until the job is done.
Begin by clearing off your desk or workspace so that you only have one task in front of you. If necessary, put everything on the floor or on the table behind you. Gather all the information, reports, details, papers, and work materials that you will require to complete the job. Have them at hand so you can reach them without getting up or moving. Be sure that you have all writing materials, computer disks, access codes, email addresses and everything else you need to start and continue working until the job is done.
Make It Comfortable
Set up your work area so that it is comfortable, attractive and conducive to working for long periods. Especially, make sure that you have a comfortable chair that supports your back and allows your feet to sit flat on the floor.
Set up your work area so that it is comfortable, attractive and conducive to working for long periods. Especially, make sure that you have a comfortable chair that supports your back and allows your feet to sit flat on the floor.
The most productive people take the time to create a work area where they enjoy spending time. The cleaner and neater your work area before you begin, the easier it is for you to get started and keep going.
Assume The Position
When you sit down, with everything in front of you, ready to go, assume the body language of high performance. Sit up straight, sit forward and away from the back of the chair. Carry yourself as though you were an efficient, effective high performing personality. Then, pick up the first item and say to yourself, "Let's get to work!" and plunge in. And once you've started, keep going until the job is finished.
When you sit down, with everything in front of you, ready to go, assume the body language of high performance. Sit up straight, sit forward and away from the back of the chair. Carry yourself as though you were an efficient, effective high performing personality. Then, pick up the first item and say to yourself, "Let's get to work!" and plunge in. And once you've started, keep going until the job is finished.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, take a good look at your desk or office, both at home and at the office. Ask yourself, "What kind of a person works in an environment like that?"
Second, resolve today to clean up your desk and office completely so that you feel effective, efficient and ready to get going each time you sit down.
Friday, February 25, 2011
Spend Less Time on E-Mail -- and Accomplish More
Chances are you are struggling with too much email everyday either from internal sources or from other people. However much you may want to be informed about everything that's going on, you can't possibly keep up on it all without increasing unnecessary stress and damaging your productivity.
My largest client issues a flood of e-mails every day. Some come from the Head of the company. Some come from its divisional leaders. Some come from its operational heads. And some -- not too many, but some -- come from me. If I thought it were important to read and respond to every one of those e-mails that come to me, I'd be spending at least eight hours a day doing that. By the time I would get done, I'd have zero energy left to make useful improvements or suggest productive new directions for my client.
One recommendation for handling a deluge of e-mails comes from Bill Jensen, author of "The Simplicity Survival Handbook". Don't read every word, he says. Instead, scan them with the purpose of discovering what action is being called for. "If the communication does not contain an action and a short-term date [to complete that action], ignore it."
This applies to all communications -- even from top brass. If hitting "delete" makes you worry that you're missing something, do it anyway, he says. There is a 69% chance you'll get this exact communication again, a 48% chance you'll get it a third time, and a 36% chance you'll have to show up at a meeting or event to review it.
I have no idea where Jensen got these numbers. Their exactness makes them suspect. But I do think he's right about freeing yourself from the feeling that you need to read and possibly respond to every message that's sent to you.
I am in favor of scanning incoming messages. And I like the idea of paying attention to need-by dates. But it makes no sense to let a memo's urgency determine whether you are going to respond to it. That will turn you into a slave to the latest crisis. You'll spend all your hours fighting fires that aren't dangerous or can be fought by others.
Here's the three-step method I recommend:
Step 1. Scan the message to find out who's in charge of the issue/problem that it's about. If it's not you, make sure that person has been copied on it. If he has, either delete the message or send a short reply saying you trust that person to handle it. If he needs anything from you, he should let you know.
Step 2. Ask yourself: "If I ignore this message, will the issue/problem resolve itself?" If the answer is "yes," either delete the message or send a short reply suggesting that you are going to give the issue/problem some time to work itself out.
Step 3. If the memo is about something for which you are responsible -- and it's not likely to be fixed without some adjudication (see "Word to the Wise," below) -- ask yourself: "How important is this in terms of the business's most important goals?" If it's not important or if you are otherwise preoccupied, delegate it to someone else.
IMPORTANT - Try this......TURN IT OFF !!!!
Check your emails first thing in the morning....and then close down or turn your email system off ! Then turn it on again once every hour ....and then turn it off again. You very well know what happens when you receive an email............. you just have to read it........ Well....don't ! It will take your focus off the important tasks you are currently doing.
If you currently have your email system configured to flag you with a 'pop-up' or 'little enevelope' every time you receive a new email....turn this function off. Focus on completing what you are doing!
I started checking my emails once an hour many months ago and I have literally doubled my daily productivity.
Your Action Plan
My rule, as you know, is to limit all correspondence to a single page. It is very rare when any written discussion I'm involved in can't be dealt with (advanced to the next level, not necessarily resolved) in 200 words or less.
Take a look at the memos and e-mails you've been issuing. If they run more than one page, you're wasting your time -- and the time of the people you're sending them to. Make a conscious effort, starting today, to express yourself in fewer words. When you do, I think you'll find that your written communications will not only be more direct . . . but also easier to understand.
If you would like any further advice check out my Facebook Page
Alternativly if you would like any information about Business Coaching click here.
Until next time
Adrian
My largest client issues a flood of e-mails every day. Some come from the Head of the company. Some come from its divisional leaders. Some come from its operational heads. And some -- not too many, but some -- come from me. If I thought it were important to read and respond to every one of those e-mails that come to me, I'd be spending at least eight hours a day doing that. By the time I would get done, I'd have zero energy left to make useful improvements or suggest productive new directions for my client.
One recommendation for handling a deluge of e-mails comes from Bill Jensen, author of "The Simplicity Survival Handbook". Don't read every word, he says. Instead, scan them with the purpose of discovering what action is being called for. "If the communication does not contain an action and a short-term date [to complete that action], ignore it."
This applies to all communications -- even from top brass. If hitting "delete" makes you worry that you're missing something, do it anyway, he says. There is a 69% chance you'll get this exact communication again, a 48% chance you'll get it a third time, and a 36% chance you'll have to show up at a meeting or event to review it.
I have no idea where Jensen got these numbers. Their exactness makes them suspect. But I do think he's right about freeing yourself from the feeling that you need to read and possibly respond to every message that's sent to you.
I am in favor of scanning incoming messages. And I like the idea of paying attention to need-by dates. But it makes no sense to let a memo's urgency determine whether you are going to respond to it. That will turn you into a slave to the latest crisis. You'll spend all your hours fighting fires that aren't dangerous or can be fought by others.
Here's the three-step method I recommend:
Step 1. Scan the message to find out who's in charge of the issue/problem that it's about. If it's not you, make sure that person has been copied on it. If he has, either delete the message or send a short reply saying you trust that person to handle it. If he needs anything from you, he should let you know.
Step 2. Ask yourself: "If I ignore this message, will the issue/problem resolve itself?" If the answer is "yes," either delete the message or send a short reply suggesting that you are going to give the issue/problem some time to work itself out.
Step 3. If the memo is about something for which you are responsible -- and it's not likely to be fixed without some adjudication (see "Word to the Wise," below) -- ask yourself: "How important is this in terms of the business's most important goals?" If it's not important or if you are otherwise preoccupied, delegate it to someone else.
IMPORTANT - Try this......TURN IT OFF !!!!
Check your emails first thing in the morning....and then close down or turn your email system off ! Then turn it on again once every hour ....and then turn it off again. You very well know what happens when you receive an email............. you just have to read it........ Well....don't ! It will take your focus off the important tasks you are currently doing.
If you currently have your email system configured to flag you with a 'pop-up' or 'little enevelope' every time you receive a new email....turn this function off. Focus on completing what you are doing!
I started checking my emails once an hour many months ago and I have literally doubled my daily productivity.
Your Action Plan
My rule, as you know, is to limit all correspondence to a single page. It is very rare when any written discussion I'm involved in can't be dealt with (advanced to the next level, not necessarily resolved) in 200 words or less.
Take a look at the memos and e-mails you've been issuing. If they run more than one page, you're wasting your time -- and the time of the people you're sending them to. Make a conscious effort, starting today, to express yourself in fewer words. When you do, I think you'll find that your written communications will not only be more direct . . . but also easier to understand.
If you would like any further advice check out my Facebook Page
Alternativly if you would like any information about Business Coaching click here.
Until next time
Adrian
Monday, January 31, 2011
What Entrepreneurs Need to Know to Be Successful
When it comes to entrepreneurship, there is no clear path to success. The challenge entrepreneurs' face is to find their own means to success given their business, situation, timing, and style. A wise entrepreneur spends a good deal of time learning from the mistakes of his fellow professionals who ended up on the well-trodden path to failure. No matter what your industry, business plan, or idea, the following ten tips are basics for building a successful business.
Stay focused on the most important tasks that need to get done. Entrepreneurs multi-task daily. It is easy to get off track and spend time on tasks that won't get the business going. Decide each morning what the most important tasks are for that day. Start with these tasks and don't switch tasks until they get done.
Delegate. Entrepreneurs who succeed know what they do well, and what others do better than them. Decide what tasks should be outsourced and delegate these tasks to others. Trying to do everything or do things that aren't your specialty ruins your efficiency and the quality of your end product or service.
Keep a business journal. Write down your business thoughts and ideas. In planning stages, these ideas can be both powerful and fleeting. Make a point at the end of every week or month to review your notes for ideas and potentials that you forgot to capitalize on.
Find a support group. Part of being an entrepreneur is being bold, risky, and independent. But you are far from being alone in your endeavor. Join up with a group of entrepreneurs online or in your community for support. Many starting entrepreneurs need the same type of services (web designers, printers, etc.), so you can exchange resources and same time and energy in doing solo research.
Address your fears and doubts. People often view entrepreneurs as the bold explorers of the business world. Don't let your expectations of what it means to be an entrepreneur override your feelings. Fears and doubts are normal. Expressing this anxiety can be cathartic and help prevent it from becoming a roadblock to success.
Follow the golden rule of the business plan. Yes, create a business plan, and develop it thoroughly. Stick to it, but don't treat it like the end-all be-all plan. Often once you get your business going, you'll find that unexpected opportunities arise. Doors open once you get on your feet. Don't pass by them because your business plan dictates that you continue on a certain path. Instead, carve out some time to explore and evaluate these opportunities to determine if they should become part of (or the new focus of) your business model.
Decide what your business hours are going to be and stick to them. It is easy to overwork, especially as an entrepreneur who's business is in the house. As an entrepreneur, there is always work to be done. Remember that there is life after work and if you don't have a life, get one. On days and weeks where you have to put in extra work, plan an award for yourself (a massage, a day-off, a night out, etc.)
Exercise regularly. Make exercise part of your business routine. It is easy to get overwhelmed by all the decisions you have to make. Exercise clears your brain to make decisions and keeps you healthy so you'll have less sick days.
Keep abreast of the industry you are in. Read trade publications, talk to people in the industry, and learn as much as you can. The most informed entrepreneurs are the most successful ones. If you are still talking about the power of CDs in the age of MP3s and DVDs, you're idea is already dead, and your business will be too if you don't stay up-to-date.
Keep a sense of humour. You have made a choice not to punch a timecard or work for someone else. Times are tough and humour is the best recipe for getting through the day. Find the humor in situations and find sources of humour in your life (comics, sitcoms, and funny friends). Stay away from people who complain, whine, or give out negative vibes.
Thursday, January 27, 2011
The Visual Experience
When was the last time you really looked at your business?
I mean, really looked at it? What’s the first thing you see when you drive up to the building every morning? What’s the condition of the parking area? How clean is the building exterior? Are there fingerprints and dust on the door handle? What color are the walls? What is the condition of the carpet or floor tiles?
You’ve probably walked through your business so many times that you don’t even notice what it looks like any more. It all starts to look like background. And the only things you do notice are the times when something is not where it was before. It’s the sudden changes that stand out – not the gradual, day to day fading of paint and scuffing of floors.
Marketing is all about collecting information about the people most likely to use your products and services, and then developing strategies to effectively satisfy the emotional needs of these customers and potential customers. These strategies are then used as your guiding force in designing systems for every part of your business that interfaces with your customer. From the first phone call, to taking the initial order, to the design of your products and services, to the way your employees dress and speak, to the appearance of printed material, and yes, even your company name - all of these impact your customer’s emotional experience. Your task is to make all parts of your company’s “touch points” with your customers intentional. All of them must convey a consistent message and a desirable emotional experience for your customers.
Simple things like the shapes and colors you use in your logo, business cards, marketing materials, vehicles, uniforms, packaging, building and grounds, employee dress and personal grooming, and anything else the customer sees can have a profound impact on the decision to buy or not buy. It’s all part of creating an entire buying experience for your customers that meets their needs and expectations.
Something as significant as the colors and shapes you select for your business is not a decision you can make lightly. The most important thing to remember about your colors and shapes is to make sure it evokes a favorable emotional response in the minds of your customers. How do you find that out? As you do your market research, you will learn about the unique characteristics and emotional preferences of your customers. Once you have a good feel for those preferences, you’ll know what kinds of emotions you want to stimulate in their minds. That knowledge will lead you to an effective strategy to position your business in the minds of your customers. And that includes your choice of colors and shapes. A good graphic designer with a background in marketing will know what kinds of colors and shapes appeal to different demographics. When you are selecting colors and shapes for your logo and other materials, be sure to choose something your customers will like, and not what you like or what the designer thinks is “cool.”
Take some time this week to walk through your business as if you’re seeing it for the first time. Notice every color, shape, texture, odor, and sound that exists. Think about how your customers would react if they noticed the same things. What is important to them? You’ll likely see some things that are pleasing to your customers, and some others that are not pleasing. Take lots of notes, and use those notes to plan the changes you want to make. How could you find out about the needs and preferences of your target market? Are there any business organizations specific to your customers? What other sources of information are available to you?
Designing your colors and shapes to appeal to your customers requires time and effort, but it’s worth it. The wrong colors and shapes can drive customers away, and neither you nor they will consciously know why. The right kind of visual experience for your customers will draw them in and make them feel more at ease once they arrive. It’s too important to leave it to chance
I mean, really looked at it? What’s the first thing you see when you drive up to the building every morning? What’s the condition of the parking area? How clean is the building exterior? Are there fingerprints and dust on the door handle? What color are the walls? What is the condition of the carpet or floor tiles?
You’ve probably walked through your business so many times that you don’t even notice what it looks like any more. It all starts to look like background. And the only things you do notice are the times when something is not where it was before. It’s the sudden changes that stand out – not the gradual, day to day fading of paint and scuffing of floors.
Marketing is all about collecting information about the people most likely to use your products and services, and then developing strategies to effectively satisfy the emotional needs of these customers and potential customers. These strategies are then used as your guiding force in designing systems for every part of your business that interfaces with your customer. From the first phone call, to taking the initial order, to the design of your products and services, to the way your employees dress and speak, to the appearance of printed material, and yes, even your company name - all of these impact your customer’s emotional experience. Your task is to make all parts of your company’s “touch points” with your customers intentional. All of them must convey a consistent message and a desirable emotional experience for your customers.
Simple things like the shapes and colors you use in your logo, business cards, marketing materials, vehicles, uniforms, packaging, building and grounds, employee dress and personal grooming, and anything else the customer sees can have a profound impact on the decision to buy or not buy. It’s all part of creating an entire buying experience for your customers that meets their needs and expectations.
Something as significant as the colors and shapes you select for your business is not a decision you can make lightly. The most important thing to remember about your colors and shapes is to make sure it evokes a favorable emotional response in the minds of your customers. How do you find that out? As you do your market research, you will learn about the unique characteristics and emotional preferences of your customers. Once you have a good feel for those preferences, you’ll know what kinds of emotions you want to stimulate in their minds. That knowledge will lead you to an effective strategy to position your business in the minds of your customers. And that includes your choice of colors and shapes. A good graphic designer with a background in marketing will know what kinds of colors and shapes appeal to different demographics. When you are selecting colors and shapes for your logo and other materials, be sure to choose something your customers will like, and not what you like or what the designer thinks is “cool.”
Take some time this week to walk through your business as if you’re seeing it for the first time. Notice every color, shape, texture, odor, and sound that exists. Think about how your customers would react if they noticed the same things. What is important to them? You’ll likely see some things that are pleasing to your customers, and some others that are not pleasing. Take lots of notes, and use those notes to plan the changes you want to make. How could you find out about the needs and preferences of your target market? Are there any business organizations specific to your customers? What other sources of information are available to you?
Designing your colors and shapes to appeal to your customers requires time and effort, but it’s worth it. The wrong colors and shapes can drive customers away, and neither you nor they will consciously know why. The right kind of visual experience for your customers will draw them in and make them feel more at ease once they arrive. It’s too important to leave it to chance
Friday, January 21, 2011
Guide to making MEETINGS work
You and your team are busy so REALISE, VISUALISE and CAPITALISE by holding regular meetings.
Meetings are a fundamental tool for travel businesses to help assess what has been happening, what is in progress and what has to be done in the future. Travel businesses need to look at meetings as a necessity to be held week to week....YES EVERY WEEK. No matter how busy you and your team think you are.
The fact is that no matter what your time constraints are you will be even busier without having regular meetings with your team. Without meetings, it can lead to problems with communications, human resources, finance, operations and business growth.
Meetings work best when they are planned and structured to bring out the best results possible.
Here is a list of 12 tips for making your meetings work:
- Establish a purpose for the meetings
- Define what is going to be covered in the meetings
- Ensure there is a clear agenda of topics to be covered
- Communicate to your team what they need to contribute to the meeting beforehand.
- Make sure you allocate a time and place so that the meeting can happen week to week.
- Give every participant an open voice at the meeting; ensure that you promote quality discussion from participants.
- Make sure everyone takes notes.
- Gather ideas, concerns and brainstorm plans for action to come out of every meeting.
- Topics and ideas that have been discussed in previous meetings need to be highlighted to check progress and ensure they are followed through.
- Ensure you include time for awards, humorous topics and non business relating issues to keep your team motivated.
- Make sure you and your team are on time every time to the meeting.
- Get feedback on how the meetings can be improved week to week.
Take these tips on board to help your travel business run a little smoother and grow a little faster. Meetings will ensure pressing issues get voiced as long as there is the right environment to do so.
So in closing 'don't you have a meeting to get to'
Thursday, January 20, 2011
The Golden Hour
You become what you think about most of the time. And the most important part of each day is what you think about at the beginning of that day.
Start Your Day Right
Take 30 minutes each morning to sit quietly and to reflect on your goals. You'll find when you read the biographies and autobiographies of successful men and women that almost everyone of them began their upward trajectory to success when they begin getting up early in the morning and spending time with themselves.
Feed Your Mind With Positive Ideas
This is called the Golden Hour. The first hour sets the tone for the day. The things that you do in the first hour prepare your mind and set you up for the entire day. During the first thirty to sixty minutes, take time to think and review your plans for the future.
Use Your Quiet Time Effectively
Here are four things that you can do during that quiet time in the morning. Number one is to review your plans for accomplishing your goals and change your plans if necessary.
Number two is think of better ways to accomplish your goals. As an exercise, assume that the way you're going about it is totally wrong and imagine going about it totally differently. What would you do different from what you're doing right now?
Number three, reflect on the valuable lessons that you have learned and are learning as you move toward your goals.
Practice Daily Visualization
Number four, calmly visualize your goal as a reality. Close your eyes, relax, smile, and see your goal as though it were already a reality. Rewrite your major goals everyday in the present tense. Rewrite them as though they already existed. Write "I earn X dollars." "I have a net worth of X." "I weigh a certain number of pounds." This exercise of writing and rewriting your goals everyday is one of the most powerful you will ever learn.
Fasten Your Seatbelt
Your life will start to take off at such a speed that you'll have to put on your seatbelt. Remember, the starting point for achieving financial success is the development of an attitude of unshakable confidence in yourself and in your ability to reach your goals. Everything we've talked about is a way of building up and developing your belief system until you finally reach the point where you are absolutely convinced that nothing can stop you from achieving what you set out to achieve.
Everything Counts
No one starts out with this kind of an attitude, but you can develop it using the law of accumulation. Everything counts. No efforts are ever lost. Every extraordinary accomplishment in the result of thousands of ordinary accomplishments that no one recognizes or appreciates. The greatest challenge of all is for you to concentrate your thinking single-mindedly on your goal and by the law of attraction, you will, you must inevitably draw into your life the people, circumstances and opportunities you need to achieve your goals.
Become A Living Magnet
Once you've mastered yourself and your thinking, you will become a living magnet for ideas and opportunities to become wealthy. It's worked for me and for every successful person I know. It will work for you if you'll begin today, now, this very minute, to think and talk about your dreams and goals as though they were already a reality. When you change your thinking, you will change your life. You will put yourself firmly on the road to financial independence.
Action Exercises
Now, here are two things you can do every single day to keep your mind focused on your financial goals:
First, get up every morning a little bit earlier and plan your day in advance. Take some time to think about your goals and how you can best achieve them. This sets the tone for the whole day.
Second, reflect on the valuable lessons you are learning each day as you work toward your goals. Be prepared to correct your course and adjust your actions. Be absolutely convinced that you are moving rapidly toward your goals, no matter what happens temporarily on the outside. Just hang in there!
Start Your Day Right
Take 30 minutes each morning to sit quietly and to reflect on your goals. You'll find when you read the biographies and autobiographies of successful men and women that almost everyone of them began their upward trajectory to success when they begin getting up early in the morning and spending time with themselves.
Feed Your Mind With Positive Ideas
This is called the Golden Hour. The first hour sets the tone for the day. The things that you do in the first hour prepare your mind and set you up for the entire day. During the first thirty to sixty minutes, take time to think and review your plans for the future.
Use Your Quiet Time Effectively
Here are four things that you can do during that quiet time in the morning. Number one is to review your plans for accomplishing your goals and change your plans if necessary.
Number two is think of better ways to accomplish your goals. As an exercise, assume that the way you're going about it is totally wrong and imagine going about it totally differently. What would you do different from what you're doing right now?
Number three, reflect on the valuable lessons that you have learned and are learning as you move toward your goals.
Practice Daily Visualization
Number four, calmly visualize your goal as a reality. Close your eyes, relax, smile, and see your goal as though it were already a reality. Rewrite your major goals everyday in the present tense. Rewrite them as though they already existed. Write "I earn X dollars." "I have a net worth of X." "I weigh a certain number of pounds." This exercise of writing and rewriting your goals everyday is one of the most powerful you will ever learn.
Fasten Your Seatbelt
Your life will start to take off at such a speed that you'll have to put on your seatbelt. Remember, the starting point for achieving financial success is the development of an attitude of unshakable confidence in yourself and in your ability to reach your goals. Everything we've talked about is a way of building up and developing your belief system until you finally reach the point where you are absolutely convinced that nothing can stop you from achieving what you set out to achieve.
Everything Counts
No one starts out with this kind of an attitude, but you can develop it using the law of accumulation. Everything counts. No efforts are ever lost. Every extraordinary accomplishment in the result of thousands of ordinary accomplishments that no one recognizes or appreciates. The greatest challenge of all is for you to concentrate your thinking single-mindedly on your goal and by the law of attraction, you will, you must inevitably draw into your life the people, circumstances and opportunities you need to achieve your goals.
Become A Living Magnet
Once you've mastered yourself and your thinking, you will become a living magnet for ideas and opportunities to become wealthy. It's worked for me and for every successful person I know. It will work for you if you'll begin today, now, this very minute, to think and talk about your dreams and goals as though they were already a reality. When you change your thinking, you will change your life. You will put yourself firmly on the road to financial independence.
Action Exercises
Now, here are two things you can do every single day to keep your mind focused on your financial goals:
First, get up every morning a little bit earlier and plan your day in advance. Take some time to think about your goals and how you can best achieve them. This sets the tone for the whole day.
Second, reflect on the valuable lessons you are learning each day as you work toward your goals. Be prepared to correct your course and adjust your actions. Be absolutely convinced that you are moving rapidly toward your goals, no matter what happens temporarily on the outside. Just hang in there!
Tuesday, January 18, 2011
9 Keys to Developing Strategic Alliances
Forming key relationships or partnering with other businesses could be the most important thing you do to ensure your success, however, the wrong decision could be a recipe for disaster. To successfully develop worthwhile strategic alliances, consider the following nine keys points:
Select partners carefully
Make sure you attract like minded people with similar values and ethics. Today there are still many 'cowboys' in the marketplace. People who ride into town, with lots of fanfare, making lots of noise and hollow promises. However, if you are looking for a long term relationship with your clients, don't network with the cowboys or you are sure to have a stormy ride. Look at your peers and competitors and identifying those who think like you, run their businesses along the same ethical lines and basically have a good business name.
Be clear on outcomes
• Be as specific as possible. Identify exactly
• how big you want your connection to grow
• The turnover you anticipate
• the number of hours you can commit to the project
• any other commitments that may affect your financial situation
• any fears you may have about the business relationship
• identify exactly how many widgets you want to produce, when and by whom
• how much you can afford to invest and lose, should your partnership fail.
Never assume anything
Many business partnerships fail because of poor communication. Some partners think everything that needs to be discussed is covered once the dollars are finalised but this is far from reality. Clarify everything. Put everything in writing as soon as possible after your meetings. Take notes during the meeting or have the meeting and minutes recorded for you.
Set specific time lines
Many people agree in principal to something and then find that due to prior commitments or unexpected events, they cannot honour their agreement. By setting trial time frames, you can get an idea of your partner's management style, their attention to detail and their investment in the project.
Allow for exit clauses
Better to lose a partner in the early stages, than lose your good name in the marketplace. Sometimes the different styles of management and leadership create disharmony. Something that seemed like a small annoyance may become a huge irritation down the track. For example, you may form a partnership with someone who always runs at least forty minutes late for every meeting. You on the other hand are always ten minutes early,
You may initially laugh this habit away, however, after a few months of being kept waiting, you may not see the humour anymore. You may like to put in place a 'trial time frame' e.g. 'lets review this in 30 days and see how we are travelling. If things are not working out by then, we can dissolve the partnership without any hard feelings'.
This one point will ensure a clean break if one becomes required in the future.
Aim for the WIN-WIN
Brainstorm possible, best and worst case scenarios regarding this strategic alliance. What is the worst thing that can happen and can you cope with that outcome? If you can, then you have absolutely nothing to lose. If you can't cope with that outcome, you may like to review the situation or review the guidelines.
Celebrate your successes
In life, some people are so busy doing, doing, doing, that they forgot to stop and smell the roses. To maintain your and your partners motivation, it's important to record the milestones in your alliance: ie Your first order or contract, your first payment in excess of $X, etc. Acknowledge these wins regularly. If you don't give yourself recognition, why would you expect others to give it to you?
Do your homework
Prepare your business plan, do a SWOT analysis highlighting the positives and the negatives of a joint alliance. Prepare all the information that you consider your potential partner would need to know before they could comfortably make a decision about forming an alliance with you.
Don't be afraid to go for it
And finally, when you have selected your partner to be, make the phone call, send the fax, email, whatever the approach - make contact. Remember, if you never ask the question, the answer is always, no! Ask for six minutes of their time. Talk fast - let your passion and enthusiasm sell your idea. After all, what's the worst thing that can happen - rejection? You can live with that. Remember, they are not rejecting you, they are rejecting your product, service or a specific opportunity. Tomorrow, they may change their mind or better still, they may introduce you to a person they consider to be your ideal strategic alliance partner. If we have courage to face the challenge and make our dreams, goals and targets greater than our fears - we can have whatever we want in life.
Dream big dreams…
Select partners carefully
Make sure you attract like minded people with similar values and ethics. Today there are still many 'cowboys' in the marketplace. People who ride into town, with lots of fanfare, making lots of noise and hollow promises. However, if you are looking for a long term relationship with your clients, don't network with the cowboys or you are sure to have a stormy ride. Look at your peers and competitors and identifying those who think like you, run their businesses along the same ethical lines and basically have a good business name.
Be clear on outcomes
• Be as specific as possible. Identify exactly
• how big you want your connection to grow
• The turnover you anticipate
• the number of hours you can commit to the project
• any other commitments that may affect your financial situation
• any fears you may have about the business relationship
• identify exactly how many widgets you want to produce, when and by whom
• how much you can afford to invest and lose, should your partnership fail.
Never assume anything
Many business partnerships fail because of poor communication. Some partners think everything that needs to be discussed is covered once the dollars are finalised but this is far from reality. Clarify everything. Put everything in writing as soon as possible after your meetings. Take notes during the meeting or have the meeting and minutes recorded for you.
Set specific time lines
Many people agree in principal to something and then find that due to prior commitments or unexpected events, they cannot honour their agreement. By setting trial time frames, you can get an idea of your partner's management style, their attention to detail and their investment in the project.
Allow for exit clauses
Better to lose a partner in the early stages, than lose your good name in the marketplace. Sometimes the different styles of management and leadership create disharmony. Something that seemed like a small annoyance may become a huge irritation down the track. For example, you may form a partnership with someone who always runs at least forty minutes late for every meeting. You on the other hand are always ten minutes early,
You may initially laugh this habit away, however, after a few months of being kept waiting, you may not see the humour anymore. You may like to put in place a 'trial time frame' e.g. 'lets review this in 30 days and see how we are travelling. If things are not working out by then, we can dissolve the partnership without any hard feelings'.
This one point will ensure a clean break if one becomes required in the future.
Aim for the WIN-WIN
Brainstorm possible, best and worst case scenarios regarding this strategic alliance. What is the worst thing that can happen and can you cope with that outcome? If you can, then you have absolutely nothing to lose. If you can't cope with that outcome, you may like to review the situation or review the guidelines.
Celebrate your successes
In life, some people are so busy doing, doing, doing, that they forgot to stop and smell the roses. To maintain your and your partners motivation, it's important to record the milestones in your alliance: ie Your first order or contract, your first payment in excess of $X, etc. Acknowledge these wins regularly. If you don't give yourself recognition, why would you expect others to give it to you?
Do your homework
Prepare your business plan, do a SWOT analysis highlighting the positives and the negatives of a joint alliance. Prepare all the information that you consider your potential partner would need to know before they could comfortably make a decision about forming an alliance with you.
Don't be afraid to go for it
And finally, when you have selected your partner to be, make the phone call, send the fax, email, whatever the approach - make contact. Remember, if you never ask the question, the answer is always, no! Ask for six minutes of their time. Talk fast - let your passion and enthusiasm sell your idea. After all, what's the worst thing that can happen - rejection? You can live with that. Remember, they are not rejecting you, they are rejecting your product, service or a specific opportunity. Tomorrow, they may change their mind or better still, they may introduce you to a person they consider to be your ideal strategic alliance partner. If we have courage to face the challenge and make our dreams, goals and targets greater than our fears - we can have whatever we want in life.
Dream big dreams…
Monday, January 17, 2011
Are you addicted to work?
Why are you so busy? Do you really have too much work? Is work so important to you that you'll sacrifice just about anything in your life to get the job done? Even if it's at the expense of your health and your relationships?
If you find these questions disturbing then see how you rate with these ones:
• Do you work more than 50 hours a week?
• Do you dream about work?
• Do you feel that in order to succeed you must work late most of the time?
• Are you a stranger in your own home?
• Do you constantly miss family and social events because you're always working?
• Do you schedule and undertake more than you can get done in a 40-hour work week?
• Do you get bored when you're not working?
• Is missing family and social events because of work unavoidable?
• When on holiday do you constantly check your phone messages and email?
Your Score
The greater the number of yes answers, the closer you are to fitting the profile of a workaholic. If you've answered yes to more than half of the questions, it's time to take stock before you lose your health, family and everything you hold near and dear to your heart.
Do a Stocktake
First, of all take a really good look at your job, what you do and the importance of your accomplishments. Are you appreciated for all those long hours you've put in? Does it really - I mean really - make a difference to your income? Let's face it. In today's economic environment, employees are often nothing more than expendable pawns. No amount of overtime and sacrifice will make a difference when a company has to make cutbacks.
Are You Having Fun?
Secondly, determine if you're having fun at your job, long hours notwithstanding. If you're not having fun and are popping antacids to avoid a stress-related ulcer, then you need to rethink all that hard work you're putting in. Fun must be a high priority in your life and your job should be no exception.
Gary's Story
In one of our coaching sessions, Gary told me he wanted to expand his social circle yet didn't have time because he worked from 7.30 a.m. to 7.00 p.m. most days. He said he'd been doing this for years and that it was 'the norm' in his profession.
As I continued to question him about why it was standard procedure to work these ridiculous hours, he realised that those colleagues who succumbed to this belief were all very unhappy individuals. Most of them were divorced just like he was and had no-one to go home to. They used work as a way to avoid the loneliness.
Gary was divorced because he didn't pay attention to his relationships. He would arrive home at 7.30 p.m. most nights and his wife wouldn't bother communicating with him. She was busy looking after their two young boys and meeting their needs. At that time of night his wife was putting the kids to bed.
Gary would read them a story if they hadn't already fallen asleep.
He was missing out on everything that was important to him.
Unfortunately Gary didn't wake up to himself in time and got caught up with being 'Mr. Important' at work. He paid a heavy price with the divorce which followed.
Bringing Up Kids
In his book "Raising Boys", Stephen Biddulph categorically states: If you routinely work a fifty five or sixty hour week, including travel times, you just won't cut it as a dad.
He says: Your sons will have problems in life and it will be down to you.
If you seriously want to make changes to your life, then take action now. If it's too hard to do by yourself, get a coach. If you've been a workaholic it can take awhile to break your old habits and to instill new behaviours. After all you've got everything to gain by working less and everything to lose by continuing the way you are.
If you find these questions disturbing then see how you rate with these ones:
• Do you work more than 50 hours a week?
• Do you dream about work?
• Do you feel that in order to succeed you must work late most of the time?
• Are you a stranger in your own home?
• Do you constantly miss family and social events because you're always working?
• Do you schedule and undertake more than you can get done in a 40-hour work week?
• Do you get bored when you're not working?
• Is missing family and social events because of work unavoidable?
• When on holiday do you constantly check your phone messages and email?
Your Score
The greater the number of yes answers, the closer you are to fitting the profile of a workaholic. If you've answered yes to more than half of the questions, it's time to take stock before you lose your health, family and everything you hold near and dear to your heart.
Do a Stocktake
First, of all take a really good look at your job, what you do and the importance of your accomplishments. Are you appreciated for all those long hours you've put in? Does it really - I mean really - make a difference to your income? Let's face it. In today's economic environment, employees are often nothing more than expendable pawns. No amount of overtime and sacrifice will make a difference when a company has to make cutbacks.
Are You Having Fun?
Secondly, determine if you're having fun at your job, long hours notwithstanding. If you're not having fun and are popping antacids to avoid a stress-related ulcer, then you need to rethink all that hard work you're putting in. Fun must be a high priority in your life and your job should be no exception.
Gary's Story
In one of our coaching sessions, Gary told me he wanted to expand his social circle yet didn't have time because he worked from 7.30 a.m. to 7.00 p.m. most days. He said he'd been doing this for years and that it was 'the norm' in his profession.
As I continued to question him about why it was standard procedure to work these ridiculous hours, he realised that those colleagues who succumbed to this belief were all very unhappy individuals. Most of them were divorced just like he was and had no-one to go home to. They used work as a way to avoid the loneliness.
Gary was divorced because he didn't pay attention to his relationships. He would arrive home at 7.30 p.m. most nights and his wife wouldn't bother communicating with him. She was busy looking after their two young boys and meeting their needs. At that time of night his wife was putting the kids to bed.
Gary would read them a story if they hadn't already fallen asleep.
He was missing out on everything that was important to him.
Unfortunately Gary didn't wake up to himself in time and got caught up with being 'Mr. Important' at work. He paid a heavy price with the divorce which followed.
Bringing Up Kids
In his book "Raising Boys", Stephen Biddulph categorically states: If you routinely work a fifty five or sixty hour week, including travel times, you just won't cut it as a dad.
He says: Your sons will have problems in life and it will be down to you.
If you seriously want to make changes to your life, then take action now. If it's too hard to do by yourself, get a coach. If you've been a workaholic it can take awhile to break your old habits and to instill new behaviours. After all you've got everything to gain by working less and everything to lose by continuing the way you are.
Thursday, December 9, 2010
Excellence Combined With Integrity
How to set standards for excellence and back them with total integrity.
A Commitment to Excellence
Leaders have specific responsibilities and must fulfill certain requirements. One requirement of leadership is the ability to choose an area of excellence. Just as a good general chooses the terrain on which to do battle, an excellent leader chooses the area in which he and others are going to do an outstanding job. The commitment to excellence is one of the most powerful of all motivators. All leaders who change people and organizations are enthusiastic about achieving excellence in a particular area.
Be the Best!
The most motivational vision you can have for yourself and others is to "Be the Best!" Many people don't yet realize that excellent performance in serving other people is an absolute and basic essential for survival in the economy of the future.
Many individuals and companies still adhere to the idea that as long as they are no worse than anyone else, they can remain in business. That is just plain silly! It is prehistoric thinking. We are now in the age of excellence. Customers assume that they will get excellent quality, and if they don't, they will somewhere else that is willing to give them excellence.
Have A Vision of High Standards
As a leader, your job is to be excellent at what you do, to be the best in your chosen field of endeavor. Your job is to have a vision of high standards in serving people. You not only exemplify excellence in your own behavior, but you also translate it to others so that they, too, become committed to this vision.
It is the commitment to doing work of the highest quality in the service of other people, both inside and outside the organization. Leadership today requires an equal focus on the people who must do the job, on the one hand, and the people who are expected to benefit from the job, on the other.
The Most Respected Quality
The second quality, which is perhaps the single most respected quality of leaders, is integrity. Integrity is complete, unflinching honesty with regard to everything that you say and do. Integrity underlies all the other qualities. Your measure of integrity is determined by how honest you are in the critical areas of your life.
Integrity means this: When someone asks you at the end of the day, "Did you do your very best?" you can look him in the eye and say, "Yes!" Integrity means this: When someone asks you if you could have done it better, you can honestly say, "No, I did everything I possibly could."
Integrity means that you, as a leader, admit your shortcomings. It means that you work to develop your strengths and compensate for your weaknesses. Integrity means that you tell the truth, and that you live the truth in everything that you do and in all your relationships. Integrity means that you deal straightforwardly with people and situations and that you do not compromise what you believe to be true.
Action Exercises
Now, here are two things you can do immediately to put these ideas into action.
First, identify the area of your work where excellent performance can contribute the very most to productivity and profits. Focus all your efforts in this area.
Second, do your very best on every task. Imagine that everyone is watching even when no one is watching. Imagine that everyone in your company was going to do their work exactly the way you do yours.
Never compromise your standards!
A Commitment to Excellence
Leaders have specific responsibilities and must fulfill certain requirements. One requirement of leadership is the ability to choose an area of excellence. Just as a good general chooses the terrain on which to do battle, an excellent leader chooses the area in which he and others are going to do an outstanding job. The commitment to excellence is one of the most powerful of all motivators. All leaders who change people and organizations are enthusiastic about achieving excellence in a particular area.
Be the Best!
The most motivational vision you can have for yourself and others is to "Be the Best!" Many people don't yet realize that excellent performance in serving other people is an absolute and basic essential for survival in the economy of the future.
Many individuals and companies still adhere to the idea that as long as they are no worse than anyone else, they can remain in business. That is just plain silly! It is prehistoric thinking. We are now in the age of excellence. Customers assume that they will get excellent quality, and if they don't, they will somewhere else that is willing to give them excellence.
Have A Vision of High Standards
As a leader, your job is to be excellent at what you do, to be the best in your chosen field of endeavor. Your job is to have a vision of high standards in serving people. You not only exemplify excellence in your own behavior, but you also translate it to others so that they, too, become committed to this vision.
It is the commitment to doing work of the highest quality in the service of other people, both inside and outside the organization. Leadership today requires an equal focus on the people who must do the job, on the one hand, and the people who are expected to benefit from the job, on the other.
The Most Respected Quality
The second quality, which is perhaps the single most respected quality of leaders, is integrity. Integrity is complete, unflinching honesty with regard to everything that you say and do. Integrity underlies all the other qualities. Your measure of integrity is determined by how honest you are in the critical areas of your life.
Integrity means this: When someone asks you at the end of the day, "Did you do your very best?" you can look him in the eye and say, "Yes!" Integrity means this: When someone asks you if you could have done it better, you can honestly say, "No, I did everything I possibly could."
Integrity means that you, as a leader, admit your shortcomings. It means that you work to develop your strengths and compensate for your weaknesses. Integrity means that you tell the truth, and that you live the truth in everything that you do and in all your relationships. Integrity means that you deal straightforwardly with people and situations and that you do not compromise what you believe to be true.
Action Exercises
Now, here are two things you can do immediately to put these ideas into action.
First, identify the area of your work where excellent performance can contribute the very most to productivity and profits. Focus all your efforts in this area.
Second, do your very best on every task. Imagine that everyone is watching even when no one is watching. Imagine that everyone in your company was going to do their work exactly the way you do yours.
Never compromise your standards!
Looking back on 2010
As I sit in a very crowded airport, I find myself reflecting back on this past year. For the Interactive Marketing/Search industry, 2010 was very active with mergers/acquisitions, partnerships, innovation and constant change. Although it’s been a wild ride, as we look toward 2011, advertisers should leverage the knowledge learned this past year and prepare for what’s ahead.
Here is a sampling of some of the more eventful happenings from this year:
* Google Caffeine, Instant & Preview
* Partnership between Yahoo & MSN/Bing
* Promoted Tweets
* Facebook Pages to “Like” not ‘Friend/Follow”
* LinkedIn Company Page Feature for “Products/Services”
* iPad and entry of the Tablet
* Introduction of Droid and Windows Phone
* Remarketing Ads
* Invasion of all things Mobile
* Enhanced features (extensions) in AdWords for more robust ads.
As we finish out the year and prepare 2011 marketing budgets and goals, here are the areas I predict will be on most company’s radar:
* Measuring Social Media Results and Monetization of Those Efforts
* Crafting Multi-Device, Robust Mobile Strategy Beyond Basic Visibility
* Improving on Analytics and Integration With Other Important Data
* Refining Paid Search Campaigns – More Experimentation With Other Engines, Portals, Networks, etc.
* Multi-Channel Strategy Development & Execution … Holistic Marketing
* Content Maximization for Enhanced SEO Value
* Experimentation – Multivariate Testing
* Identification of Metrics & Goals
As an incentive to companies who are looking to get a Jumpstart on 2011, we are offering 10% off any consulting program initiated by December 31, 2010. Let us help with a laser-like focus on search and interactive marketing.
Here is a sampling of some of the more eventful happenings from this year:
* Google Caffeine, Instant & Preview
* Partnership between Yahoo & MSN/Bing
* Promoted Tweets
* Facebook Pages to “Like” not ‘Friend/Follow”
* LinkedIn Company Page Feature for “Products/Services”
* iPad and entry of the Tablet
* Introduction of Droid and Windows Phone
* Remarketing Ads
* Invasion of all things Mobile
* Enhanced features (extensions) in AdWords for more robust ads.
As we finish out the year and prepare 2011 marketing budgets and goals, here are the areas I predict will be on most company’s radar:
* Measuring Social Media Results and Monetization of Those Efforts
* Crafting Multi-Device, Robust Mobile Strategy Beyond Basic Visibility
* Improving on Analytics and Integration With Other Important Data
* Refining Paid Search Campaigns – More Experimentation With Other Engines, Portals, Networks, etc.
* Multi-Channel Strategy Development & Execution … Holistic Marketing
* Content Maximization for Enhanced SEO Value
* Experimentation – Multivariate Testing
* Identification of Metrics & Goals
As an incentive to companies who are looking to get a Jumpstart on 2011, we are offering 10% off any consulting program initiated by December 31, 2010. Let us help with a laser-like focus on search and interactive marketing.
Wednesday, December 1, 2010
Being a Better Listener
Many business people have trained themselves to receive and process very high loads of information very quickly - it's almost a survival skill in the early days of business when you might have to do everything yourself!
There is also evidence (email me for a copy) that people who are made to think quickly report feeling happier, more energetic, more creative, more powerful, and more self-assured.
Strangely, that fast information processing skill can become an issue when you come to communicate with staff, family and others. As the gap information processing speed grows, so problems appear. Some fast thinkers find it almost painful to slow down to the speed at which others talk and process, and they can become impatient and/or appear disinterested, bored or distracted in the most inappropriate circumstances such as staff meetings, dinner conversation, or even a client or sales interview.
Diagnosing Yourself
If you find yourself being easily distracted when others are talking; or developing the habit of doing other things while people are talking with you (because you have spare bandwidth and can follow what they are saying and complete another task); or of losing the train of thought in another's presentation, then the following tip may be for you.
Simple Solution
If the root of the problem is that you need a higher flow of information than is being delivered by your audience or other party, then broaden your focus to take in a much wider bandwidth of information than just the spoken words.
After all, words form only about 7% of our communications, with the other 93% being provided at the level of voice and body language. So, broaden your attention beyond words, and start interpreting voice tone, pitch, pace and timbre, and the whole spectrum of body language from posture and gestures to facial expression, skin tone, eye movements and breathing pace and location.
Once you start to develop some facility at this you will be amazed at how easy it is not only to "stay in the moment" with your audience, but also to acquire a much deeper understanding of what is being communicated at every level in that moment.
The bonus is that your audience will quickly sense your engagement with and focus on them, rapport is likely to deepen, and the confidence that engenders is likely to see them speed their delivery quite naturally. Then everyone is happy.
Test this in an aware way at your next opportunity. If it works for you, develop it as a habit.
Communication does not depend on syntax, or eloquence, or rhetoric, or articulation but on the emotional context in which the message is being heard. People can only hear you when they are moving toward you, and they are not likely to when your words are pursuing them. Even the choicest words lose their power when they are used to overpower. Attitudes are the real figures of speech. ... Edwin H. Friedman
If you would like more business tips, or would like more information about TA Fastrack's business coaching, business training and marketing services, call 07 3040 3588 or email us directly on email@tafastrack.com.au.
There is also evidence (email me for a copy) that people who are made to think quickly report feeling happier, more energetic, more creative, more powerful, and more self-assured.
Strangely, that fast information processing skill can become an issue when you come to communicate with staff, family and others. As the gap information processing speed grows, so problems appear. Some fast thinkers find it almost painful to slow down to the speed at which others talk and process, and they can become impatient and/or appear disinterested, bored or distracted in the most inappropriate circumstances such as staff meetings, dinner conversation, or even a client or sales interview.
Diagnosing Yourself
If you find yourself being easily distracted when others are talking; or developing the habit of doing other things while people are talking with you (because you have spare bandwidth and can follow what they are saying and complete another task); or of losing the train of thought in another's presentation, then the following tip may be for you.
Simple Solution
If the root of the problem is that you need a higher flow of information than is being delivered by your audience or other party, then broaden your focus to take in a much wider bandwidth of information than just the spoken words.
After all, words form only about 7% of our communications, with the other 93% being provided at the level of voice and body language. So, broaden your attention beyond words, and start interpreting voice tone, pitch, pace and timbre, and the whole spectrum of body language from posture and gestures to facial expression, skin tone, eye movements and breathing pace and location.
Once you start to develop some facility at this you will be amazed at how easy it is not only to "stay in the moment" with your audience, but also to acquire a much deeper understanding of what is being communicated at every level in that moment.
The bonus is that your audience will quickly sense your engagement with and focus on them, rapport is likely to deepen, and the confidence that engenders is likely to see them speed their delivery quite naturally. Then everyone is happy.
Test this in an aware way at your next opportunity. If it works for you, develop it as a habit.
Communication does not depend on syntax, or eloquence, or rhetoric, or articulation but on the emotional context in which the message is being heard. People can only hear you when they are moving toward you, and they are not likely to when your words are pursuing them. Even the choicest words lose their power when they are used to overpower. Attitudes are the real figures of speech. ... Edwin H. Friedman
If you would like more business tips, or would like more information about TA Fastrack's business coaching, business training and marketing services, call 07 3040 3588 or email us directly on email@tafastrack.com.au.
Monday, November 29, 2010
Where do you stand on advertising?
In recent times I am getting asked this question a lot. Specifically business owners want to know if they should be advertising or cutting back in the light of the current challenging economic conditions.
I think that we should always advertise according to what we can afford to spend, but stopping all advertising because we are panicking about what is happening around us is not really a smart move in my opinion. We all know that it is more important than ever to market and actively work on growing our businesses in tough times. So surely stopping all advertising is not going to help. Think back to my BULLET last week about the Hot Dog stand that sent itself broke after 40 years because the was told to “cut back” on everything.
I am a big fan of the Apple Corporation. Whilst other leading computer companies have been slashing their advertising budget, Apple increased their advertising spend by thirty percent. Their view was that now was the time for them to build their client base by increased advertising especially as their dollar was going further and their competitors were doing nothing. Has it worked? Absolutely. Now the competition has realised what is going on and Microsoft and Dell have ramped up their advertising activity.
Now I know that you may be thinking that how can I compare my small business to Apple but you really can. The exact same principles apply, just on a smaller scale. In fact I encourage every small business owner to check out what the large proactive companies are doing - and follow their lead, at your own scale.
So, to close, I have two key recommendations. Yes - keep advertising. Sure cut it back if you are concerned about your cash flow but whatever you do, don’t stop. Secondly, everyone is negotiable at the moment, especially advertising media - so negotiate and make your dollar work harder for you. This is a great time to get creative, do some clever advertising and attract new customers to your business with some smart advertising. Remember, the actions we take today in our business will pay off tomorrow. Do nothing today - expect nothing tomorrow.
If you would like more business and success tips, or would like more information about TA Fastrack's marketing services or business coaching and consulting services, visit www.tafastrack.com.au or email email@tafastrack.com.au.
I think that we should always advertise according to what we can afford to spend, but stopping all advertising because we are panicking about what is happening around us is not really a smart move in my opinion. We all know that it is more important than ever to market and actively work on growing our businesses in tough times. So surely stopping all advertising is not going to help. Think back to my BULLET last week about the Hot Dog stand that sent itself broke after 40 years because the was told to “cut back” on everything.
I am a big fan of the Apple Corporation. Whilst other leading computer companies have been slashing their advertising budget, Apple increased their advertising spend by thirty percent. Their view was that now was the time for them to build their client base by increased advertising especially as their dollar was going further and their competitors were doing nothing. Has it worked? Absolutely. Now the competition has realised what is going on and Microsoft and Dell have ramped up their advertising activity.
Now I know that you may be thinking that how can I compare my small business to Apple but you really can. The exact same principles apply, just on a smaller scale. In fact I encourage every small business owner to check out what the large proactive companies are doing - and follow their lead, at your own scale.
So, to close, I have two key recommendations. Yes - keep advertising. Sure cut it back if you are concerned about your cash flow but whatever you do, don’t stop. Secondly, everyone is negotiable at the moment, especially advertising media - so negotiate and make your dollar work harder for you. This is a great time to get creative, do some clever advertising and attract new customers to your business with some smart advertising. Remember, the actions we take today in our business will pay off tomorrow. Do nothing today - expect nothing tomorrow.
If you would like more business and success tips, or would like more information about TA Fastrack's marketing services or business coaching and consulting services, visit www.tafastrack.com.au or email email@tafastrack.com.au.
Thursday, November 25, 2010
What really makes customers grumpy?
The Australian consumer watchdog, CHOICE, has just released a survey detailing exactly what drives customers crazy. The overwhelming winner was hidden costs and I have to say I agree totally. There is nothing worse than being told a price only to find out that there are hidden charges and you have to put your hand in pocket for more money.
The reality is that any business that fails to be completely forthright about how much an item or a service will cost (and this means the full cost), is being misleading. Why do they do it? Because they are looking for an unfair competitive advantage or they are scared that if they give the customer the real cost they won’t make the purchase. Whatever the reason, it is a sure fire way to lose customers and in some instances it is illegal.
CHOICE identified the following specific irritations that will drive customers awa:
Simply make sure that your business discloses the FULL cost of any products or services that you offer in a way that is open and completely clear to your customers. The more upfront you are with your customers the better it will be for your business in the long run and any sales you make will be “clean” sales, which means that the customer won’t come back to complain. They will get what they expect and most importantly what they are paying for.
Integrity is vital for business success. To build a long term, successful business, you need to build trust with your customers and transparency is an essential part of this process.
For business coaching, marketing consulting or other business success tips, visit www.tafastrack.com.au.
The reality is that any business that fails to be completely forthright about how much an item or a service will cost (and this means the full cost), is being misleading. Why do they do it? Because they are looking for an unfair competitive advantage or they are scared that if they give the customer the real cost they won’t make the purchase. Whatever the reason, it is a sure fire way to lose customers and in some instances it is illegal.
CHOICE identified the following specific irritations that will drive customers awa:
- Hidden fees and hidden commissions
- Not including GST in quoted prices (which has been shown to be misleading and deceptive in the Courts)
- Extra charges that were only made obvious after the purchase
- Ongoing costs that were not made clear at the time of purchase
- Costs creep, where costs rise on a project or service but the consumer was not made aware that the costs could rise.
Simply make sure that your business discloses the FULL cost of any products or services that you offer in a way that is open and completely clear to your customers. The more upfront you are with your customers the better it will be for your business in the long run and any sales you make will be “clean” sales, which means that the customer won’t come back to complain. They will get what they expect and most importantly what they are paying for.
Integrity is vital for business success. To build a long term, successful business, you need to build trust with your customers and transparency is an essential part of this process.
For business coaching, marketing consulting or other business success tips, visit www.tafastrack.com.au.
Friday, November 19, 2010
If you want referrals you need to let people know EXACTLY what you do and what you WANT.
A while back I moved out of an office where I had run my marketing business for a few years. The day we were physically putting the boxes into the back of the truck, the lady who ran the business in the office next door came over to say goodbye. I saw her every day and we had one of those nice kind of “how are you going?” relationships. She asked me a question as we were saying goodbye - she asked what it was we actually do?
Now this question almost floored me, especially as we were neighbours for so long, but it made me realise that just because I knew what my business does it certainly doesn’t mean that everyone else knows. And after all, it is our job to let them know, it’s not their job to find out.
This concept under pins the entire word of mouth referral process. How can people possibly refer us if they don’t really know what we do? We need to be proactive in telling people (and by people I mean all people including our family, our friends, our suppliers, our neighbours, our existing customers and anyone else who will listen) exactly what it is that our business does. Assuming that the name says it all is really a little risky.
Further to this most businesses change and evolve over time. They develop new products and services, they expand their area of operation, they stop offering certain things - in other words they change. We all need to make sure we keep this information flowing. The more informed, up to date and aware all of the people are who are in our sphere of influence, the more word of mouth referrals we can and will get.
Most importantly of all, we need to spell out what kind of customers we really want. Define the “PERFECT” customer and let our network know that these are the kind of people we are looking for and we would really appreciate their help in referring these specific kinds of people our business.
Being too vague makes it really hard for friends and fans to recommend your business because they don’t really know what you do or what you want.
The secret weapon in the world of business success is communication. We have so many ways to communicate that it can be a little daunting, but if you want to grow your business through word of mouth referrals, you have to become exceptional at communicating and disseminating information to everyone in your ever expanding network.
For assistance with business coaching or business and marketing consulting, call 07 3040 3588 or email email@tafastrack.com.au.
Now this question almost floored me, especially as we were neighbours for so long, but it made me realise that just because I knew what my business does it certainly doesn’t mean that everyone else knows. And after all, it is our job to let them know, it’s not their job to find out.
This concept under pins the entire word of mouth referral process. How can people possibly refer us if they don’t really know what we do? We need to be proactive in telling people (and by people I mean all people including our family, our friends, our suppliers, our neighbours, our existing customers and anyone else who will listen) exactly what it is that our business does. Assuming that the name says it all is really a little risky.
Further to this most businesses change and evolve over time. They develop new products and services, they expand their area of operation, they stop offering certain things - in other words they change. We all need to make sure we keep this information flowing. The more informed, up to date and aware all of the people are who are in our sphere of influence, the more word of mouth referrals we can and will get.
Most importantly of all, we need to spell out what kind of customers we really want. Define the “PERFECT” customer and let our network know that these are the kind of people we are looking for and we would really appreciate their help in referring these specific kinds of people our business.
Being too vague makes it really hard for friends and fans to recommend your business because they don’t really know what you do or what you want.
The secret weapon in the world of business success is communication. We have so many ways to communicate that it can be a little daunting, but if you want to grow your business through word of mouth referrals, you have to become exceptional at communicating and disseminating information to everyone in your ever expanding network.
For assistance with business coaching or business and marketing consulting, call 07 3040 3588 or email email@tafastrack.com.au.
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