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Five Lessons Small Businesses Can Learn From Liz Strauss

May 17, 2013 by Rosemary

By Shonali Burke

Like many bloggers in the PR and marketing realm, I’ve been in awe of Liz Strauss ever since I became aware of the “name bloggers” in my professional world. When I started my own blogging journey, four years ago, Successful Blog was one of the first to become a regular stop; always for inspiration, and sometimes as I asked myself the question, “Will I ever be able tolike that?”

I met Liz fleetingly a few years ago, when she spoke at a DC-area event. Our meeting was brief. She was standing outside the event venue and, spying her in a rare moment of solitude, I couldn’t help but go up to her and tell her how much I admired her. She didn’t know me from Eve (probably still doesn’t), but that didn’t stop her from graciously thanking me. Later, she was kind enough to connect with me on various social platforms, even though the benefit was certainly skewed towards me.

As Liz recuperates from her illness, I couldn’t help but think of five lessons small businesses could learn from Liz Strauss.

1. You’re only a stranger once.

This is the tagline of Successful Blog, but is applicable to your business if you approach your customers as people first. Sure, customers come and go. But a successful business will convert first-timers into repeat buyers, and repeat buyers into evangelists. I don’t care how large or small your business is, this is possible and applicable…if you treat them as people first.

How do you start doing this? By using today’s myriad two- and multi-way communication channels to build relationships instead of email lists.

2. Building relationships takes time.

Especially with the number of (how many? I don’t know! Too many to count!) social media/self-help/gurus shilling their wares, I am not surprised at how many small businesses that think the way to use social media is this:

The path to social media failure

After all, once you have a presence, the rest will fall into place, right?

Wrong.

Connecting – i.e. following/being followed back – on a social network does not automatically translate into a relationship. All that that first connection means is that a door has been (slightly) opened to you; how you now conduct yourself will determine whether that door opens more fully or slams shut in your face.

How do you start doing this? Be a human super-collider. Find out what makes the people you meet, whether they are customers, or prospects, or business professionals you come across at networking events, tick.

3. When you build relationships, your community steps up when you most need it to.

Look at the way this blog has been running for the past several months. Liz’ health situation was announced at the beginning of 2013. The last post I read, as I drafted my own, was dated May 10, 2013. That’s a full five months later.

Had Liz not spent several years genuinely building her community via real relationships, do you think she would have had people like Rosemary O’Neill step up to manage the blog in her absence?

No way, Don Juan.

How do you start doing this? Part of the answer is in #2 above, so first I will say, “Read above, lather, rinse, and repeat.”

4. Educate and empower your community.

The second part of the answer is to educate and empower your community. Tell them, as you engage with them over time, what’s important to you… and why (and if your business is community-centric, chances are it’s what’s important to them too).

How do you start doing this? As you continue to engage with them, find people who can become your de facto or de jure community managers, and empower them with enough know-how – such as your engagement goals and guidelines, and your content needs – so that they can step into the breach if and when they need to.

The great thing about this approach is that you may never need them to fill a void in your absence… but if you do, they are ready and willing to do so.

5. Focus on what works.

A recent Constant Contact survey reported that 66% of small business owners use mobile technology. Continue reading, though, and you’ll see: “… it’s important to note that, of the 34 percent not using any mobile device or solution for their business, a resounding 65 percent have no plans to do so in the future, mainly citing a lack of customer demand.”

I don’t think this 65% of the 34% is necessarily behind the times. Being a small business owner myself, I know the conflicting demands placed on small businesses.

What will you pay attention to? When? How? Who’s going to do it?

It isn’t a question of never paying attention to technological advances, it’s a question of being attuned to the technologies your customers are using or expect, and providing the appropriate platforms, while planning for the future. Just as Liz does here on Successful Blog, by maintaining a framework visitors are familiar with, but by keeping an eye on what’s to come.

How do you start doing this? Stay on top of technological and industry developments. But don’t jump on the bandwagon until your business can sustain and recoup the additional investment… and don’t let anyone pressure you into doing so either.

I’m sure there are many other lessons you have gleaned, on a business level, from Liz’ incredible contribution to the blogosphere and our time. Would you share what you have learned, so that we can salute her collectively?

Author’s Bio: Shonali Burke takes your business communications from corporate codswallop to community cool™. She also blogs, teaches, and cooks. You can find her on Twitter as @shonali.

Thanks for the shout-out, Shonali! I was honored to be able to give back a tiny bit to Liz, who has shown her generosity and kindness to so many over the years. She is the nougaty goodness at the center of this amazing community.

Rosemary

Filed Under: Audience, Community, Motivation, SOB Business, Successful Blog Tagged With: audience, bc, communication, Community, relationships

Will achieving your life’s dream make you happy?

May 16, 2013 by Rosemary

When I was 10, I wanted to be an archaeologist. Something about the King Tutankhamen treasures touring the country inspired me, and I desperately wanted to find dinosaur bones. Then at some point, I found out that archaeology involved a lot of fruitless sweating, kneeling in the dirt, and being bitten by insects. I moved on to dream of becoming a children’s book writer, which involved none of those things.

king-tutankhamun

Are you working toward a specific life’s goal, either personally or professionally?

Have you stopped to analyze the reality of achieving your goals?

For example, if one of your career goals is to become a famous speaker, giving keynotes all over the world for big-time fees, have you considered the travel involved? Time away from your family, hotel rooms, TSA inspections? Yep, that’s glamorous.

If your corporate goal is to bring in 10 Fortune 500 clients, have you thought through the realities of servicing an enterprise customer? Massive bureaucracy, expectations, slow decision-making…and reliance on a few large customers can be risky as well.

Be careful what you wish for, you just might get it.

The homework today is to review your goals, both written and unwritten. Take a half hour to visualize what your life would be like if you achieved them. Is it the life you want?

If not, you need new goals.

Author’s Bio: Rosemary O’Neill is an insightful spirit who works for social strata — a top ten company to work for on the Internet . Check out the Social Strata blog. You can find Rosemary on Google+ and on Twitter as @rhogroupee

Image via Flickr CC: Mediocre2010

Filed Under: Business Life, Inside-Out Thinking, Strategy/Analysis, Successful Blog Tagged With: bc, Dreams, goals, happiness, visualization

5 Tips on How to Prioritize

May 10, 2013 by Rosemary

By John Murphy

Do you know how to prioritize? I mean really “know” – not just intellectually, but in reality!

My belief is that most of us rank somewhere between alright and pretty poor when it comes down to prioritizing.

It falls somewhere between crisis management and those “things I like to do”!! Not the most scientific criteria!

I have had the pleasure of working with some top CEOs and they are really good at prioritizing. This is how they do it

They challenge themselves with these 5 questions:

1. Is this on my dashboard of 5/6 key drivers of the business?

2. Will I add value to this task?

3. Am I the one who should be dealing with it?

4. Should I be dealing with this right now?

5. Do I have all the information I need to deal with it?

If they get a “No” to any of those questions it does not get to their priority list.

Allow me to delve a bit deeper:

Dashboard of 5/6 key drivers. I first heard this from Warren Buffet who maintains that there are ever only 5/6 key items that must be monitored at all times. These are the 5/6 items that matter most. Great CEOs focus on what matters most – they are really good at this. They cannot focus on everything – they just focus on what matters and what delivers results.

Will I add value? If it is not clear where they, and only they, can add value, they will not get involved.

Am I the one to deal with it? Top CEOs are really good at identifying whether they are the right person to deal with an issue, or is it somebody else’s job? The old saying of “don’t buy a dog and bark yourself” comes to mind!

Is this the right time to do it? In other words, am I doing this to fulfill my own agenda or someone else’s? Is it the most important thing for me to do in this minute? Is there anything more important I should be doing right now? Top performers are really good at answering that question

Have I got all the information I need? There is nothing more frustrating than starting something and then realizing that you don’t have all the information you need to complete. Make sure that you have the right amount of information or input to complete what you start – it’s a good example to your people, if nothing else.

Top CEOs are really good at this process. They know how to prioritize their work and, by definition, the work of their team tends to be well prioritized also. It is no coincidence!

One of the main challenges I have found when working with clients is to get them to identify the 5 or 6 key drivers. When you first go through this process you will always end up with a much longer list. But there are not 10 or 15 key drivers!

I will not argue with Warren Buffet – his track record is unquestionable! So, be tough with yourself and get to 5 or 6 – it will be worth it to you, and your business.

Author’s Bio: John Murphy a business coach who writes about what makes executives and business owners more productive at www.johnmurphyinternational.com. You can find him on Twitter as @jmicoaching.

Filed Under: Successful Blog Tagged With: bc

Be a Human Super-Collider

May 9, 2013 by Rosemary

Physicists at the Large Hadron Collider in Geneva, Switzerland, made news recently when they announced that they expect to offer evidence of the existence (or non-existence) of the Higgs boson (or “God” particle) by the end of the year. Essentially, the “super-collider” smashes together particles at high speeds to see what happens when they collide.
large hadron collider

You can be a human super-collider.

Pay close attention to the people around you, their characteristics, dreams, businesses. Take mental note when someone shares their life experiences with you. Then when you see an opportunity to put two people together for their mutual benefit, do it.

When you proactively connect your connections, magical things will happen. Especially if you do it without any thought in mind of how it will benefit you.

How to Become a Human Super-Collider

Get very good at remembering names. Here’s a great article that will help you build that muscle and start connecting names to faces.

When you meet new people, find out what they’re up to. Don’t just go for the standard “what do you do,” think of interesting ways to draw out their long-term goals and dreams. Next time, try “what made you decide to go into [digital marketing/psychiatry/dog grooming]?”

Listen deeply and actively. Molly Cantrell-Craig wrote an excellent post about how to listen earlier this year.

Create a system for organizing information. You can use the notes section of your Address Book client, use the new LinkedIn Contacts app (they have a special spot for noting where you met someone), or try Evernote. As soon as you can, jot down some details about the person you just met. Bonus points if you remember to go back and read it before the next time you see that person again.

Don’t be afraid to introduce people. They may or may not hit it off, but you’ve just shown them both that you have their best interests in mind. Be sure to include the reason why you feel they should connect (do they have a mutual interest, are they going to the same conference, are their businesses complimentary). Here are some tips on the etiquette of introductions.

When you start consistently doing these things, you’ll start to see the magic of particle collision. Just don’t tell those folks in Switzerland.

Author’s Bio: Rosemary O’Neill is an insightful spirit who works for social strata — a top ten company to work for on the Internet . Check out the Social Strata blog. You can find Rosemary on Google+ and on Twitter as @rhogroupee

Image via Flickr CC: Image Editor

Filed Under: Uncategorized Tagged With: bc

Invoice Factoring for New Business Needs

May 7, 2013 by Rosemary

By Tina Hamilton

If you are an entrepreneur in your start-up year, you are still learning the ropes. You may have tenacity, family support, passion, and past experience in the industry. However, you can’t be managing every aspect of the business at once and all too often young companies find unpaid contracts and invoices piled on the desk.

In worse case scenarios unpaid invoices can sit around for months and cause companies to fail to meet payroll or face challenges in ordering inventory. Knowing your options is vital to keeping your head above water. One of the best solutions to this all-too-common problem is Invoice Factoring due to its successful record in helping businesses continue to flourish by providing instant cash. Continue reading to learn how it works, and what to look out for.

Cash Flow problems

Getting a cash advance on your unpaid invoices can be what saves your starting business. But finding the right invoice factoring company is equally vital to protecting your assets, as is the ability to get paid off your unpaid contracts.

Fee

When paying a company to collect on your Factoring Accounts Receivables you want to find one that will charge you zero money upfront and take no more than 10 percent of your recovered unpaid invoices. Asking a business to pay upfront is counter-productive and defeats the purpose of getting a cash advance.

Reputation

A factoring company’s reputation is extremely important. It is paramount that businesses take the needed time to do thorough research on any company they consider working with. If there are a lot of negative remarks surrounding a company is it best to keep looking for another provider. It is completely normal to find one or two bad reviews on any business in any industry. Perhaps your business even has a bad review. Do not let one bad review shake your faith in a company, but if the negative feedback stifles the positive, dealing with them is not worth it.

Terms

Make sure the terms are just as agreeable as the rates. You may not be buying a used car, but you can still try haggling a bit to get the terms to an appropriate arrangement. If you find a company with excellent rates but the terms need some improvement, try doing a little research until you do find a company with better terms and present your finding to the provider you are trying to work with. Often they will try to save face by matching or beating a competitor’s terms. When it comes to negotiating terms you can follow advise from online articles that help entrepreneurs negotiate traditional bank loans. Although the products are totally opposite from one another, the art of negotiating is not.

Moving forward

Once you have been paid out on your invoices be sure you learn from the experience so not to repeat the same action from happening again. Perhaps hiring someone to manage accounts is in order. This would also free up some of your time to spend elsewhere in the business.

Finally, positive thinking is a powerful, contagious force that helps drive business forward. Be sure that when you finally nail down your business processes, you line them in a silver layer of positivity.

Author’s Bio: Author Tina Hamilton is a veteran journalist currently researching invoice factoring as an option for her family’s business. You can follow her on Google+.

Filed Under: Business Life, SOB Business, Successful Blog Tagged With: accounting, bc, invoicing, management

How to Differentiate Yourself in Business

May 6, 2013 by Rosemary

By Deb Bixler

If you are looking for new strategies for selling you need to know what it is that makes you shine above your competitors.

Knowing what makes your business truly unique is what will help you thrive with your customers rather than just blend with the masses. Find out what helps you differentiate your business from all others by knowing just where to look.

Direct Selling Strategies

What are your direct selling strategies?

home party plan businessMany business owners don’t realize that they are literally driving their business into the ground by using the same old selling tactics as everyone else.

If your direct selling strategy involves a twist- be it a link to a website tutorial or a cute magnet or pen that showcases your company name- then you are moving in the right direction to make sure that your business is truly different in its own way.

Don’t be afraid to narrow your niche down. When you firmly believe in what you are uniquely offering you can then attract the ideal customer. Many believe the opposite that a narrow niche will eliminate some leads.

We are taught in direct sales that you should be marketing to EVERYONE but really it is impossible for everyone to be your ideal customer. Define yourself better and you will be defining your customer better.

Your business personality is part of your direct selling strategies.

Consider Your Business Personality

How is your business’s personality? There are literally 100’s of methods of direct Selling so what makes you different?

What is your sales personality?

Is it upbeat and friendly like every other business in your industry, or does it take on a more serious tone?

Does your business reflect a common ‘tone’ expected of your niche? If so, you may want to consider differentation by way of creating a whole new personality for your business.

Perhaps taking a ‘green’ approach to something that is normally serious, or adding humor to a positive atmosphere can make all the difference for your business and make you really stand out. Or is it the budget lessons or healthy tips that you offer or even are you more controversial than most?

This is branding YOU, not just your direct sales company! You need to sell yourself first and your company second.

Simple direct selling strategies will help you stand out. For some people, differentation is no piece of cake.

However, there are smaller ways to make your business stand out so you can have the edge on your competition without having to change your whole direct sales strategy.

Try switching from business cards to key chains, hire someone to check your email so messages can be returned faster than your competition, and make sure that you are choosing terms for your product(s) that your competition isn’t using.

Sometimes, simply going from ‘organic’ to ‘healthy green’ can make all the difference.

Make sure that no matter what differentation tactic you choose to use, it isn’t so different that it actually compromises the message of your business. While you want to remain unique, you don’t want to sacrifice your business’s overall integrity just to make it stand out. You want to differentiate, not reinvent your image, after all.

How do you make your business stand out from the rest?

Author’s Bio:
Deb Bixler retired from the corporate world using the proven business systems that made her a success working for others by incorporating them into her home business. In only 9 months Deb replaced her full time income with the sales and commissions from her home party plan business. Find her on Twitter at: http://www.Twitter.com/debbixler

Filed Under: Marketing /Sales / Social Media, Personal Branding, Strategy/Analysis, Successful Blog Tagged With: bc, differentiation, marketing, personal-branding, Selling

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