Small Groups Increase Entrepreneurial Support
December 6, 2010 by Mary Ellen · Leave a Comment
You do everything touted to bring success: you network, you read in your field, you do social media, you work early and late and grab opportunities as they come your way. So why is it that you still feel behind?
How do you explain the sense of overwhelm and helplessness when you confront your Monday “To Do” list?
Why do you know in your gut you could take it to a new level?
When is it your turn to have “it” come easily?
These are the questions I regularly field from solopreneurs during workshops.
While some report unprecedented successor general vagaries about how well their business is now doing, my experience is it’s been a tough year.
The economic challenges combine with a learning curve spelled c-h-a-n-g-e.
I missed the Mark Zuckerberg 60-Minutes interview, but you can check out the highlights from Mashable. What an example of real-time media. Zuckerberg discusses changes to the Facebook platform to “better serve” the greater good. Do I hear “continuing learning curve?”
Facebook isn’t the only challenge. I know some who opt out of all planning, using the speed of change as a reason to quit. “What’s the use?” they say. “It’ll only change anyway.”
Have you looked at your upcoming year and determined priorities? Do you have a game plan? Because some plan increases the likelihood of goal achievement. Whoops. I forgot a question: do you have goals?
A small group of business owners agreed to meet to review and revise and activate their business marketing. The benefits include:
Commitment – each of the group signed a contract stating their intent and promising to do the work outlined
Alliance – working with like-minded individuals facilitates networking, offers opportunities and encourages support.
Synergy – thanks to small group interaction, ideas get a sounding board, suggestions create discussion, focus increases effectiveness and plans move from thought to action.
Staying “on top of your game” implies you have a plan, you’ve thought it through, and most importantly, you’ve begun a series of actions calculated to move your business forward. Magical.
Where are you in the process?
NOTE: Contact me if you’re looking for the accountability of a small group.
Paint Your Target: Define Your Ideal Customer
October 8, 2010 by Mary Ellen · 1 Comment
Your business depends on customers for its survival. In a fiercely-competitive environment, knowing your ideal customer is more important than ever.
Small businesses must be especially conscious of this mandate. You can be small and act big if you use tools well. Tools help you collaborate - reaching farther, faster, wider and deeper. One such tool (a simple one) is a profile of your existing customer.
Some things to examine in your profile include:
- Lifestyle
- Affluence
- Media preferences
- Cultural preference
- Buying preferences
- Location
- Age
If you’re a brick and mortar store, for example, know the top zip codes of your best customers.
Another tool you might examine is American Fact Finder, online census-based information. Interested in finding more customers like the ones you’ve already got? Consult American Fact Finder.
A better idea: consider the problems of your ideal customer. What keeps them up at night? How do they feel about issues, products, ideals? Get into ther head. Feel their pain. Are you beginning to get a more complete picture?
Can you create a persona to describe your target?
How’s that shotgun approach to marketing working for you? Today’s topic is day eight of a 45-day step-by-step marketing master plan. Focus. Choose to take your business to a new level topic by topic,with specific actions, based on clear worksheets. Act now!
The Perfect Marketing Plan Template
July 6, 2010 by Mary Ellen · 2 Comments
We women know about things like changing your purse (or briefcase, or iPhone cover, or workout bag). It isn’t easy to find one something that perfectly presents your essence.
As a woman marketer, I have experimented with strategy templates. Capturing the essence of a plan on a page or two focuses your thinking and forces you to review the steps you will take to succeed.
Like purses, planning templates are seldom one-size-fits all. First of all, it’s not easy to get your strategy on a single page. It requires paring verbiage, thinking through opportunities and outcomes and being willing to do things differently.
In a dozen questions based loosely on the journalist’s “5 W’s and an H” marketing and leadership speaker David Meerman Scott manages to capture the essence of planning for small business owners.
Download his free marketing strategy template.
This template ensures you’re ready to address the issues – your buyer personas – and you have at least some understanding of the mechanics involved. Scott translates the three-letter question “Why?” into serious consideration by asking “How are you remarkable? What value do you bring?” In typical Scott fashion, he prompts your brain with the twist from “Why?” to “How?”
To complete the questions, you must move beyond “biggest,” “most qualified,” and the other blah, blah, blahs, and communicate with your buyer.
Page Two, Strategy, is brilliant, forcing the owner to walk through how he/she communicates with the customer and to what purpose.
The path from Back Links to Outcomes includes a visual to incorporate social media and offers four choices: Enquire, purchase, download, and participate.
An action list at the bottom offers an opportunity to refocus, an absolute necessity in a dynamic industry.
The template can work for any size business. It’s licensed under creative commons and you’re encouraged to download and share it.
The Marketing Strategy Planning Template is deceptively simple and beautifully presented in landscape format. In a perfect world, it would be in an Adobe Acrobat form so it could be filled out online.
The Marketing Strategy Planning Template is one awesome start to a BIG challenge that every entrepreneur faces: the PLAN.
Disclosure: I may have tested more purses than marketing templates, but it’s a close race. I’m always looking for the perfect all-purpose template.
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?
Promote your cause with publicity for the nonprofit
April 7, 2010 by Mary Ellen · Leave a Comment
“A philanthropic effort is more likely to get press if:
- A significant contribution is made in time or energy
- People get their hands dirty
- The effort truly makes a difference
- The public is familiar with at least one of the participants (either corporate, nonprofit or celebrity)
- There is a real story behind it.”
Excerpted from Starlee, Success on Your Terms, a new print magazine for entrepreneurs.
Teaming up with causes you care about sparks enthusiasm. I experienced this with Commercial Real Estate Women (CREW) as a good friend talked about the community outreach the organization performed. (See my January post: Cause-related marketing unites hearts and helpers.)
The public relations committee for CREW New Mexico asked me to speak with them about getting the word out. Here are my ten suggestions:
- Standardize info. Provide all members – especially committee members – with access to organization information including:
- “About our organization” – a boiler plate paragraph explaining what CREW is and why it makes a difference
- Fact Sheet with information about the outreach for the organization
- Complete guidelines for talking about CREW services, events and people
- Promote the name. Encourage board members and committee members to list the organization in their extended profiles on various social media sites. In return, these participants can request a link from the non-profit website to their company, if appropriate
- Use social methods. Activities get promoted on social media sites by committee people. Invite others in the organization to link to the blog posting, Digg a comment, or otherwise share information
- Get detailed information about future and past events on the website. Establish a media room for the organization and update it with news on a monthly basis
- Use press releases. Prepare a press release about the next big event and send it to traditional media outlets. AND, more importantly, publish the release on your website, make it available to sponsors and vendors.
- Daily newspaper
- Weekly business paper
- Various print publications of a weekly or monthly nature
- Local magazines
- Radio stations (especially those with a news department)
- TV stations (especially those with a morning show who talk with members of the local community)
- Concentrate on social media
- Include major city blogs
- Add a Facebook fan page if someone in the organization can maintain it
- Inquire within the organization to find members with blogs or active pages who might be willing to publicize specific activities in conjunction with the organization
- Plan to publish event info via email
- Provide a paragraph to all board/committee members and sponsors for inclusion in company newsletters
- Make it easy for volunteers to participate and promote the organization
- Be clear about the benefits of your event/program/request
- Add information to media calendars. Many media outlets provide non-profit calendar items for free. Note that events must usually be submitted separately and in advance
- Develop relationships. Form long-term relationships with media reporters, photographers, and media salespeople who might have special interest in your cause.
- Say thank you. Take the time to thank any publication or person instrumental in helping you get the word out. This extra step goes a long way towards future publicity.
Put your enthusiasm to work with a concentrated effort. It takes just a bit of planning. In the long run it will pay off in visibility.
What can marketers learn from the Olympics?
February 27, 2010 by Mary Ellen · Leave a Comment
As Vancouver 2010 draws to a close, here are seven lessons for marketers to consider:
The value of practice. Olympic athletes train all their lives for a moment in the spotlight. They practice daily, drilling the basics of execution. In contrast, many in marketing expect to win instantly, sometimes never even repeating a campaign, let alone practicing it.
The importance of the game. Regardless of adversities, disappointments, or less-than-favorable conditions, the game goes on. Sports performance is not a given: favorites fail, miracles happen, unusual circumstances change outcomes. Yet, in marketing, performance is expected and many times the marketer is experimenting rather than executing a plan.
The advantage of focus. Rather than competing in every sport, athletes specialize. The more narrow the focus, the greater the chance of success. Many marketers feel they can do everything, thus hampering themselves with experimentation, and a lack of consistency and planning.
The lesson of competition. Consider Evan Lysacek of Team USA who won gold in men’s skating. Russia’s Yevgeny Plushenko sputtered, moaned and displayed every sign of a sore loser. Lysacek continued to take the high ground, saying favorable things about his competitor even when goaded to do otherwise by news commentators. As a marketer, how do you react to the competition?
How competitive pressures change performance. Some competitors do well under pressure. Snowboarder Shaun White bested his own performance to win gold in the men’s halfpipe finals just because. Men’s aeriel skier, Jeret Speedy Peterson performed the difficult hurricane trick to even though it did not earn him a higher score. Dozens of other performers in similar situations had disappointing results.
How crowd favoritism affects perfection. Curling or Nordic skiing doesn’t generate the excitement or public awareness as hockey or figure skating. Yet, these sports have a place as part of the Olympic whole. Similarly, the behind-the-scenes efforts of a customer follow-up plan may not draw raucous approval in the boardroom, while a series of Tweets could do that. The moral? Judge your marketing on its true worth, not its general popularity.
The advantage of support. Look at any event and see the coach, the parent, the spouse, the supporters behind the athlete. In the Olympics, as in marketing, your success is determined by those who surround you. From coaches with the wisdom of their own wins to family who believe in you, support makes a significant contribution to success. To market your business effectively, find your support.
What “Olympic moment” will you put into your marketing?
Planning to plan?
February 2, 2010 by Mary Ellen · 2 Comments
JD planned during his corporate years. Once he began his consulting practice however, he was too busy to plan. Rushing from project to project, he juggled deadlines and appointments. Frequently, “marketing” appointments for his business went by the wayside in order to make more time for “cash customers.”
“Is there a better way?” nagged at him from time to time, but it was hard to argue with success. Sales seemed fine.
He continued to work on strategic themes for customers: website focus, messaging consistency, increased visibility.
And when it came to his business, the planning continued to wait. He struggled to find the time to do anything but work.
Had JD recognized the power of planning and commitment, he might have enjoyed aggressive growth sooner.
When he finally got around to planning , JD simplified his day-to-day tasks, thus adding time to his schedule.
For every 15 minutes spent in planning, you can reap 90 minutes of production time according to Brian Tracy in his book Time Power. Fifteen minutes a day may not sound like much if this is your framework: “What can I accomplish in just a quarter of an hour?”
Fifteen minutes a day totals 5,475 minutes or 91.25 hours in one year.
In real world terms, you might think of it as adding one day per quarter to your calendar. Now that kind of time found makes planning worthwhile.
Social Media: Chasing the Ball
January 26, 2010 by Mary Ellen · Leave a Comment
“Yelp it!” encouraged my friend shortly after returning from San Francisco. “The restaurants we chose came from Yelp and our entrees were described in detail. I think we even got better service because the waiters saw me typing with my iPhone while we were there.”
Her enthusiasm was catching. I’ve since signed up although I have yet to write a review.
Maybe Yelp isn’t for you.
If you’re in business, you can hardly sit on the sidelines of social media.
But how do you pick? Where do you begin?
“It depends.”
Everyday there’s a new solution, an ‘opportunity’ that might make you millions, and will at the very least require some time to investigate. Rather than chasing the idea of the week much as a child chases a bouncing rubber ball, stop and think.
- What are your goals for your business?
- How do you expect social media to contribute?
- Do you have a long-term plan for social media?
In an article on open forum, consultant and speaker Amber MacArthur suggests five social media tools for small business:
- Nameck – discovery and implementation of names
- Twitter – promotion in 140 characters or less
- Bit.ly – shortening urls and more importantly, tracking the info
- WordPress – Yes for a blogging platform choice! (My choice as well.)
- Facebook – 350 million users can’t be wrong
Read the full article from this link: http://bit.ly/SocialMedia5. MacArthur demonstrates her grasp of the problem small business faces with her summary:
“Once you start to use these tools, assign someone within your organization to act as the community manager (if you’re a one-man or one-woman business, this manager will be you!). This person will control your online voice. With all social media sites, you get back from them what you put into them. In other words, it’s critical to start, follow, and take part in ongoing conversations. Finally, track your successes and take small steps to grow your social media presence as required.”
Disclosure: I ran across this article first on Alltop, a time-saving source for small businesses.
Think Through Your Smart Marketing Choices
January 14, 2010 by Mary Ellen · Leave a Comment
Even though decisions must be made on the fly, I gulp when I think of the amount of money wasted by “winging it.”
True story: a local bookkeeper who hates marketing bought a subscription to salesgenie, business and consumer lead data, in May 2009.
Cost: $65 per month.
In theory, he could access up to 500 names/leads each month.
Nine months later, he’s STILL not accessed the system, not used a single lead, and paid $585.
AND, by the way, he’s STILL not sent out a single marketing solicitation for his firm.
If you’re considering a marketing purchase, my suggestion is think it through. Consult your marketing plan. At the very least, ask yourself these questions:
- How will I use the information?
- Can I afford the “bargain” I get? (For example, mailing 500 letters costs $220 per month, plus the stationery, printer ink, time to pull the addresses, write the letter, etc.)
- What kind of return do I need for this to be a successful venture?
- What kind of return do I expect?
- What if it doesn’t work?
- Can I afford to NOT work this?
Are you drowning in programs you don’t use or bargains that didn’t pay off? Could you pick up some money in your marketing budget if you stopped winging it?
Action Plan 101: Sign up now!
December 3, 2008 by Mary Ellen · Leave a Comment
I see you. With only 28 days left in the year I see you teetering. You’re shifting from one foot to the other, starting to head in one direction and then bringing yourself up short to listen to the cacophony of excuses playing in your brain:
There’s not enough time for that.
No one will care about this.
Why bother starting a project when, after all, the year is nearly over?
Don’t call on them; it’s too late in the year to start something new.
How do I know? I get the same messages. Even 28 days is time enough to make an impact, effect a change, develop a habit.
MARKETLINK participants just completed week 11 of a 12 week series. I asked them to list three actions steps they would take as a result of our time together. Here are their comments, sorted by broad categories:
Internet
- Plan new website
- Implement ez-SEO recommendations
- Send a bi-monthly e-letter to customers showcasing new work
- Start a media section on my company’s website to include a blog during Q-1 2009
- Oversee developing of a website that is highly visible and user-friendly for the Institute
- Establish website
- Reorganize my website and take WESST’s Internet class with my web developer
- Copyright my website
- Meet with WESST and our web designer to plan SEO and e-commerce website positioning
- Plan and implement an e-marketing program
- Meet with WESST enhance my website and target customers
- Start the process of revising my website
Financials
- Talk to the Loan Fund people
- Complete cash flow sheets
- Organize my financial portfolio
- Work to “crunch the numbers” and work out viable financials for the coffee shop
- Make an appointment with WESST to discuss pricing and a loan
Operations
- Develop a business plan
- Develop a business plan for the coffee shop, possibly an integrated plan that includes the institute
- Finish the manual by fine-tuning position descriptions
- Interview for assistant
- Remodel my office
- Finalize business plan
- Write my license agreement and call at least five possible licensees
Marketing
- Get brochures in realtor’s office
- Develop a public relations and advertising plan
- Advertise weekly in NM Business Weekly during Q-1 2009
- Get a press release published in either Business Outlook, NM Business Weekly or a combination of two-plus other combinations
- Create a budget for marketing, PR and advertising in 2009
- Develop a press release for opening
- Expand marketing and public relations program to my target audience
- Get copyright submissions up to date
- Attend more networking functions by re-joining NMACC and NAWBO
- Solidify relationship with a lead who has an “in” with horse shows
If you looked at the past 90-days, what is outstanding on your list?. Quick. List three action items to take your business to the next level during the next 90 days.
NOTE: MARKETLINK, uses Perfect Pitch, a proprietary training program developed for entrepreneurs by WESST, a nonprofit helping people start and grow their businesses. I am a certified trainer and author of the Perfect Pitch Instructor’s Manual for the MARKETLINK program.
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