Rosemary, Author at Successful Blog Page

The most important thing you can focus on today

February 4, 2016 by Rosemary

Have you ever heard the phrase, “all hat and no cattle?”

It’s a colorful description for someone who looks the part, dresses the part, but who actually has no substance.

If you spend all of your time on sales, marketing, PR, website, meetings, and accounting, you’re short-changing something extremely important: your actual product.

You will only achieve true business success when you maximize the time you spend improving your product or service.

All the rest is cowboy hat. Yes, it keeps the sun off your face, but it’s not the THING.

The THING is your service and the customers who buy it. (I’m not saying your customers are cattle…it’s just an analogy, folks!)

So prioritize, and focus on:

Customer ideation, getting actionable feedback
Adding features or services, actively innovating
Talking directly to your customers one-on-one
Re-looking at your offerings with fresh eyes, staying on top of market developments

Put these things in the back seat until the stuff above is done:

Reading Facebook posts
Coffee meetings (unless it’s with a customer)
Webinars on how to use Periscope
Fiddling with a new accounting software every week

If you keep your customer as your guiding star, it becomes simple to focus, and prioritize how you spend your day.

Another way to look at priorities is something I heard Becky McCray (of Small Biz Survival) say during a GeniusShared conference: “Do the things that generate actual revenue first.”

If you do that consistently, you are always building your business.

So stop worrying whether you need to get a SnapChat account, and go take a look at your product. Go get on the phone with one of your customers.

Author’s Bio: Rosemary O’Neill is an insightful spirit who works for Social Strata — makers of the Hoop.la community platform. Check out the Social Strata blog. You can find Rosemary on Google+ and on Twitter as @rhogroupee

Featured image via Flickr CC: Dave Young

10 Life-Changing Ways to Become More Business Savvy

January 28, 2016 by Rosemary

(Updated in 2020)

When I look to hire a new employee, one of the key skills I look for is savvy. It goes beyond education, beyond experience, and beyond talent.

Here’s Google’s definition of savvy:

shrewd and knowledgeable in the realities of life.

synonyms:

shrewd, astute, sharp-witted, sharp, acute, adroit, intelligent, clever,canny, perceptive, perspicacious, sagacious, sage, wise

People can be savvy about different things— social, political, business, tech, cultural. One of the cool things about savvy is that it can be a noun, a verb, or an adjective. Captain Jack Sparrow is fond of using the verb form, meaning “understand?”

In the entrepreneurial world, if you find a partner or employee with business savvy, you’ve struck gold. You’ve found someone who is resourceful, quick, and probably a leader too.

I recently saw a rant by Gary Vaynerchuk about why people over 40 should be more entrepreneurial, (warning there is a tiny bit of profanity in the video) and he touched on this exact quality. People with a lifetime of actual experience naturally build up savvy. They have learned to adapt to different situations because they’ve been through them. They have context.

But don’t assume that savvy is restricted to the over-40 crowd. Practical experience helps build savvy, but you can encounter young people who are “savvy savants.” Often they are referred to as “old souls.”

How to Become More Business Savvy

Look beneath the surface in any situation; don’t immediately accept things at face value.
Pick up skills intentionally. Communication skills, in particular, contribute to savvy.
Take note of things going on around you. Perceptive is another synonym for savvy.
Don’t be afraid to go against the herd.
Apply insider knowledge to your advantage (like using curbside checkin at the airport instead of inside counter help).
Don’t ignore etiquette; pay attention to the details of social graces, which apply even more in business situations.
Do a lot more listening than talking.
Humility is important, but don’t be a doormat. Savvy people look for a win-win whenever they can. It’s not always about getting an advantage for yourself.
Take time to learn about cultural differences.
Be the most prepared person in the room.

Do you consider yourself a savvy business person? What qualities do you feel make someone savvy?

Mindfulness for Entrepreneurs

January 21, 2016 by Rosemary

The idea of mindfulness conjures “touchy-feeliness.” Meditation, incense, perhaps some herbal tea.

But Ellen Langer, a social psychology professor at Harvard University, is more straightforward about mindfulness.

She says it’s simply the act of noticing change. If you want to be more mindful, simply put yourself in a context where you can notice change and then engage. No wind chimes required.

I found this strategy+business interview with Professor Langer fascinating. The interview focuses on mindfulness for senior executives and business leaders, but there are lessons for solopreneurs, consultants, and small business owners as well.

Mindfulness for the Entrepreneurial Spirit

To snap yourself out of auto-pilot behavior, change your physical context. If working from your home office is fostering bad habits, go find a co-working space with some new energy.
Stop being certain about things. Re-evaluate some of the long-held attitudes and beliefs you’ve become stuck with over time. Take a second look at your assumptions.
Explore different points of view, and notice how others express themselves. Find someone who will challenge your positions on a certain subject.
Look at distractions as potential opportunities. New things that come into your environment should be inspected, appreciated, and used as fuel for growth.
Think of the limitations you feel you have on your business right now. Are they real, or are they presumed limitations? How would you run your business if you assumed there were no limitations?
People create context as well. Surround yourself with people who energize and challenge you.
Noticing the things and people around you, in detail, makes you magnetic.

Take a moment and watch the video and interview linked above; what do you think? Can you find ways to incorporate mindfulness into your day-to-day business?

Featured image via Flickr CC: Umberto Salvagnin

You’re not “just” anything. Dare to dream.

January 14, 2016 by Rosemary

You’re not “just a blogger.”

You’re not “just a small business owner.”

You’re not “just a mom.”

You’re not “just a consultant.”

You’re not “just an entrepreneur.”

You’re not “just a marketer.”

You’re not “just a student.”

You’re not “just a struggling artist.”

See how that one qualifying word leaves everything in its wake smaller, less important?

The next time someone asks what you do for a living, tell them something fabulous and important about why you wake up in the morning.

“I teach–I fill children’s minds with useful information and possibilities.”

“I write–I share stories that inspire people to act on their dreams.”

“I advise–I help business owners map out their path to success.”

“I invest–I grow the future.”

Let’s give the word “just” a nice Viking funeral and find a new way to describe our path. Dare to dream big.

Featured image via Flickr CC: aotaro

This post has been listed as a suggested resource in a recent GeniusShared newsletter article by Jane Boyd entitled On Stories & Taking Risk.

How to set your pricing strategy

January 7, 2016 by Rosemary

One of the toughest things you have to do as an entrepreneur is put a price on the product or service you are offering.

But it’s also the step that makes you an actual entrepreneur and not just a hobbyist. Putting a stake in the ground and saying publicly, “my stuff is worth X” makes it all real.

In reality, your stuff is worth what the market is willing to pay you, but you still need to establish the baseline value you place on your own services or products.

And you may need to re-evaluate that price from time to time.

Pricing your services – where to start

If you are a solo entrepreneur, you’re basically selling your own time, which is a finite commodity. Think about how many clients or projects you can physically support at any point in time, and how much you’d have to charge to keep your business going (and keep you fed, clothed, and housed).

Know your costs/expenses – Do you rent office space? Use a virtual assistant? What software and hardware are you using? Do you travel to meet clients? Make sure you have a good handle on your monthly expenses as a baseline for any pricing exercise.

Research the market – Who is your typical customer? How big is your niche? Look for online data that will give you a picture of how big your particular market is, and how big it will be in the next few years. Imagine you’re on Shark Tank and Mr. Wonderful is asking how he’s going to get his money back.

Research your competitors – Look around and try to find out what your competitors are charging for the same service or product. You don’t need to match it, just be aware of it because your potential customers will certainly be aware of market prices. Be aware of who your competitors are, as well. Don’t compare your pricing to the Ferrari if your business is more in the Volvo lane.

Price evaluation – at least semi-annually

Listen to your prospects, and do some testing – If you consistently get price pushback from prospective customers who you believe are in your target audience, take note. Consider exactly what they’re saying…are they telling you that you haven’t demonstrated your value, or are they saying that your competitor has a drastically lower fee for a similar service?

How are you going to scale – Hopefully your semi-annual evaluation will have to address growth (if you’re being successful). You’ll need to plan for adding partners, consultants, or staff if you’re selling time. You’ll need to ensure that you have developer, creative, or manufacturing capacity if you’re selling a product. Don’t get caught short if you have a sudden surge in demand.

Be willing to pivot – Right from the start, be willing to shift your pricing strategy if necessary. Flexibility in terms of payment options, discounts, invoicing, and terms will mean you can work with a wider variety of customers. You don’t need to be a doormat, but as a small business you have the flexibility to adapt quickly (which is more difficult for your larger competitors).

Price strategy – be confident

Once you’ve established your prices, be confident and unapologetic about them. Yes, you can be flexible on payment terms, but stick to your guns on the actual prices. Don’t be intimidated by customers who ask about special discounts or freebies. Refusing to work for free doesn’t make you a bad friend; it only makes you a good business owner. That applies to major projects as well as “can I pick your brain” meet-ups.

What are your best tips for setting prices?

Featured image via Flickr CC: Dennis Wong

The Night Before Christmas (Marketing Style)

December 24, 2015 by Rosemary

Apologies to Clement Clarke Moore…

‘Twas the night before Christmas, when all through the web,

Not a creature was stirring, not even a Blab;

The stockings were hung by the chimney with care,

In hopes that Seth Godin soon would be there;

The marketers were nestled all snug at their stand-up desks;

While visions of viral videos danced in their heads;

And the CMO in her ‘kerchief, and I in my hipster cap,

Had just settled our brains for a 10 minute power nap,

When out on the landing page there arose such a clatter,

I sprang from my desk to see what was the matter.

Away to the Chrome window I flew like a flash,

Opened a new tab and refreshed the page.

The analytics on the breast of the returning visitors stat,

Gave a lustre of success to my blog post, like that,

When what to my wondering eyes did appear,

But a big traffic spike and 5000 emails,

With shares and retweets so lively and quick,

I knew in a moment it must be a REDEF pick.

More rapid than eagles the readers they came,

And commented, and Tweeted, and called us by name:

“Now, Buzzfeed! now, HuffPo! now HBR and ReadWrite!

On, TechCrunch! on, Medium! on, TheNextWeb and Reddit!

To the top of the list! to the top of the feed!

Now approach away! approach away! approach away leads!”

As leaves that before the wild hurricane fly,

When they meet with an obstacle, mount to the sky;

So up to the front page the readers they flew

With the sleigh full of clients, and Mark Schaefer too—

And then, in a twinkling, I heard on the listening post

The prancing and pawing of each little web host.

As I drew in my head, and was turning around,

Down the chimney Liz Strauss came with a bound.

She was dressed all in fur, from her head to her toe,

Because the weather in Chicago is cold, there’s snow;

A bundle of clients she had flung on her back,

And she looked like a boss, just leading the pack.

Her eyes—how they twinkled! her dimples, how merry!

Her cheeks were like roses, her nose like a cherry!

Her droll little mouth was drawn up like a bow,

And the hair on her head was blonde, as you know;

The cap of a pen she held tight in her teeth,

And the ideas, they encircled her head like a wreath;

She was very tall and had mischievous eyes

That danced when she laughed, you might be surprised.

She was quick and intuitive, with a razor sharp wit,

And I hugged her when I saw her, in spite of myself;

A wink of her eye and a twist of her head

Soon gave me to know I had nothing to dread;

She spoke not a word, but went straight to her work,

Shared lots of wisdom; then turned with a jerk,

And laying her finger aside of her nose,

And giving a nod, up the chimney she rose;

She sprang to her car, to her team gave a whistle,

And away they all flew like the down of a thistle.

But I heard her exclaim, ere she drove out of sight—

“Happy Christmas to all, and to all a good night!”