How do you measure success?
June 23, 2010 by Mary Ellen · Leave a Comment
How do you measure success? If you, like many, answer “With money,” then consider other questions about your number.
- Do you look at total revenues? Or, in your book do you name it gross sales? How about something plan and simple, like income?
- Have you factored in cost of goods? Do you know your average sale? How many orders do you require to break even?
Your progress can be gauged any number of ways. In order to make the analysis, you must know where you’ve been and where you want to go.
Some call it a plan.
Palo Alto Software, the largest supplier of business plan and marketing plan software, recently surveyed Business Plan Pro users about goals, length of time in business, and more than 20 other questions. Nearly 3,000 customers responded.
Simply put, those who finished their business plans were about twice as likely to successfully grow their business, get investment, or land a loan than those who didn’t. You can see the numbers on the chart.
Tim Berry, founder, talks more about the numbers in his blog post.
He even had the data analyzed by the University of Oregon.
Except in a small number of cases, business planning appeared to be positively correlated with business success as measured by our variables. While our analysis cannot say that completing a business plan will lead to success, it does indicate that the type of entrepreneur who completes a business plan is also more likely to run a successful business.
Get additional details.
Whatever you’re saying to yourself about your progress year-to-date, pause. Where are you with the plan?
Connect Dots Differently for New Views
June 15, 2010 by Mary Ellen · 2 Comments
How do you challenge the status quo? What do you do to prompt different connections?
Cedar at CedarFIT uses kettleballs to create an intense workout for exercise participants. Prior to bootcamp at CedarFIT, I avoided kettleballs. My distrust came from a lack of knowledge and understanding of the training method. Once Cedar explained the efficiency I would gain with the tools, and I actually experienced the benefits, I became a fan.
The experience showed me how easy it is to rule out new methodology based on “we’ve always done it this way.”
A conversation with my coaching friend Karen Van Cleve highlighted the importance of verbiage in moving forward.
“I must,” and “I have to” comments summarized her view of the day. Would “I choose work better?” I asked.
“No,” she said. “must supersedes choice and I must get this done.” Karen talked with me about the brain and its function in connections. Her program, “Do it Yourself Brain Surgery” supports people to change the patterns in their brain and thus change their behavior.
Two small illustrations showed up this week to force me to look at marketing a different way.
In spite of feeling flexible, I realized my own beliefs could use a jolt of change. So, I encourage you to create a new pattern for yourself. Take the time to make a different connection. Is there a belief you need to challenge?
If you’re tired of the status quo and determined to generate a different result, when will you begin?
Power Up Your Press Release
June 8, 2010 by Mary Ellen · Leave a Comment
If you thought you were home free, would generate a ton of media publicity simply because you produced a press release think again.
You may not get coverage even though you wrote a press release and submitted it to a publication or two.
Here are 15 ways to make one publicity document work harder for you.
- Company website. Post the news story on your own website. This helps to make sure your current customers are informed.
- Facebook. Add the news item to your Facebook page. If you’re using Facebook for business, it’s important to update information.
- Additional media outlets. Identify targets for your press release. Instead of sending the release to everyone, identify specific publications or reporters who have an interest in the topic and personalize your approach, customizing the release for each media outlet.
- New angles. Identify additional story ideas and write a short paragraph expounding on them. You can use this information for media follow up.
- Follow up calls or emails. Call or email the publications with additional information about your story. Rather than asking, “Did you get my press release?” talk about new facts or a different angle.
- Questions. When you speak directly with the reporter ask, “What other information do you need?”
- Photos. Develop photo ideas to accompany your story and then request permission to submit them.
- Internet. Post your release on free press release sites on the internet.
- Newsletter. Include the press release (or a variation of it) for your company newsletter and get the word out to yet more people.
- Associations. Consider sending the information to your association; many publish member news, so you could reach another audience with your message.
- Add media. Include radio, television and cable outlets to your distribution list.
- Use Twitter. Tweet about the topic of the press release to generate more interest.
- Post photos. Use your professional photos as a way to add exposure for your company on such sites as Flickr.
- Add audio and/or video. Consider whether a sound bite could add to the effectiveness or your efforts.
- Consult with an expert. Pay a professional to discuss additional ideas. Remember. This could expand your knowledge for the next effort, rather than being a one-time-only expense.
As one client put it, 80% of the task is getting started. It only takes 20% effort to maintain momentum.
How will you leverage the power of your next press release?
Savvy DIY Strategy Ask if it Works
June 3, 2010 by Mary Ellen · Leave a Comment
Sure advertising is changing. What works now is different than what worked last year or even last month.
While there’s no one easy answer, the best thing you can do is read, ask questions and evaluate information. Easy to say. Putting that in practice takes a bit of work. Let me explain:
The Kiplinger Letter, a subscription newsletter with forecasts for management decision making, is one of my sources.
An excerpt about Groupon caught my eye:
Ever hear of Groupon? How about Living Social or Deal Current? Over 150 such daily deal programs let firms beef up traffic in a hurry. Businesses offer advance sales at bargain prices to Web users who sign up with the marketing programs. The discounted prices are available for only one day, but the deals can be redeemed for periods of up to a year. The marketing strategy provides an easy online presence so small companies can introduce their products and services to new customers. Because daily deal prices are set deliberately low and featured businesses split revenues with the marketers, they’re often loss leaders. A Midwest yoga studio, for example, sold 780 class vouchers, taking a hit on each. But with one in eight of the new customers attracted by the online discounts already signing contracts, the firm figures that the daily deal it made will pay off. <May 7, 2010>
As a recipient of the daily Albuquerque Groupon offer, I noticed Keith West-Harrison’s Great Face and Body Ad and asked about results. Keith’s reply:
The Groupon offer was amazing! We sold 232 facials in one day! The clients have all been great! They buy lots of retail and rebook to come back. We love it and plan another on in June/July.
Here’s to looking and feeling Great on Gold!
Keith & Andre
Great Face & Body
Specializing in VIPs, Celebrities and the Film Industry
WEB: www.GreatFaceAndBody.com
PHN: 505-404-6670
In the interest of helping me and my clients, Keith shared his average sale per client, emphasizing that 40% rebooked at full price.
The moral is this: when you’re looking to market your business in a new way, find someone who’s done the same thing and talk with them. I call this uncommon common sense. With full information you can evaluate if the offer works for you.
Groupon anyone?
How One Phrase Moved Three Projects Forward and Continues to Work
June 1, 2010 by Mary Ellen · 2 Comments
When did you last begin a project with the words, “I hereby swear…”?
As you know, success requires doing what you say you will do.
But how many projects are sitting on your shelf?
How many times have you promised yourself you’re going to really “get it done this time?”
And yet, nothing happened.
Thirty days ago, we were three women in three cities with three projects from the back burner.
We made a pact to hold each other accountable.
Accountability: The state of being liable or answerable; an obligation or willingness to accept responsibility or account for one’s actions.
Today, each of us has posted huge gains in our personal project productivity. Here’s how:
A simple email (with the subject: “I hereby swear”) detailed both commitment and penalty for the month.
Email participant #1:
By the next time we speak I will have:
- Recorded the Audio program, although it may not be edited;
- completed the tip book;
- by working for at least 15 minutes each day.
- If this isn’t done by May 28th I’ll send each of you $100 plus send $100 to a charity (gulp!).
Thanks for your support!
Email participant #2:
Greetings:
Since our meeting I have been so sick, we had to cancel our vacation. Not sure it had anything to do with what we talked about. Just kidding.
However I still want to take the big step – I will have a rough first draft of the homemade doggie food. If it isn’t done I will send each of you $100 plus a $100 check to the Denver Dumb Friend’s League.
Okay here we go!
Email participant #3:
By the next time we speak I will have:
- Launched the marketing program for my ebook
- Completed a minimum of four blog posts
- Spent at least 15 minutes every day working on specifics
- If this isn’t done by May 28th, I’ll send each of you $100.
Thanks for your support in moving me off the dime!
One month after the three-word-phrase commitment, I opened the follow up meeting conversation with, “Am I richer?” In a word: “No.”
Each person detailed considerable progress as a direct result of accountability. The three of us:
- Did what we said we would do;
- Agreed we could not come to the meeting without completing our promise.(NOTE: the embarrassment from not doing what we said we would do was a strong motivator for each one of us.);
- Made far more progress in 15-minutes per day than we’d made in the past few months;
- Agreed to “phase two” with a new, increased commitment to each other;
- Discussed the phenomenon of accountability and used it to continue on our forward thrust.
My e-book, The Six Week Marketing Master Plan, operates on a similar premise. If you make a commitment to yourself to work for one hour daily on your marketing, you will complete a Master Plan in 45 days. It begins with a contract with you. Learn more at www.sixweekmarketingplan.com.
Progress is so much easier with accountability! Anyone want additional accountability?
The phrase: “I hereby swear,” starts the process. What do you want to accomplish?
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