BLOG – Go for Growth (20 September 2011)

I had the wonderful opportunity to represent My Business Help at the Go for Growth Seminar with Verne Harmish providing practical advice on various aspects of business, including small businesses.

So let’s take you through a series of blog posts which will hopefully give you an insight into how Verne’s experience and advice can assist businesses across the board from small to large business.

Verne says “Routine Sets YOU Free!”.  What does he mean by this?

Well, my understanding from listening to him is that you need to set aside time each day for a face to face meeting with your senior executives – the same time every day.

Why would you do this? 

Well, it is a time for you (the CEO) and your senior management to specify specific issues each individual is having and to get it sorted straightaway.  It is also a time to ensure you know where your business is at, where your competition is at and get ahead of it.

What your team can sort through in 15 minutes by being face to face is much more effective than any email communication or adhoc meeting you may feel is necessary.

Verne provided so much practical advice but his suggestion was to put all of his ideas through a filter and then pick or choose the ideas which suit your company but you must make sure that you implement them – not just choose them.

Learning is important in the growth of a business.  Why?  What I learnt from Verne is that you should never stop learning.  His comment, “if you don’t read then you barely have an advantage over someone who can’t read”, really stuck in my mind.  How often do we take time out to sit back and read a business book to give us great insight into how and what we could do better.  On the weekend, switch off your blackberry or iPhone and read a book.

What type of book may depend on your business but he gave quite a few examples which I would like to share in this blog:

‘Where Good Ideas Come From’ – Steven Johnson

‘Hidden Champions’ – Hermann Simon

‘How Companies Win’ – Rick Kash and David Calhoun

You can also obtain free advice by clicking through to Verne’s website: http://www.gazelles.com/index.html.  There is an amazing amount of downloadable forms, articles and more for a small business owner to download and learn from.

Hazel, Assisting U Virtually
For
My Business Help

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Market research myths for SMEs:

(1)    Think of market research in terms of what large corporations do; a mixed quant and qual approach, ending up with a large report that requires in-house researchers to absorb and develop strategy. They are big budget and require time to act on the results – two things SMEs don’t generally have.

(2)    Think it is easy to whip up a survey and invite people on social media and then change their business according to those results.

The best ways for SMEs to do market research to grow their business:

(1)    Do something small to get started and have time to absorb the results and act on them.
(2)    Utilise your existing tribe. Existing contacts already have a wealth of information that can help you grow and are waiting for you to ask them.
(3)    Put research into your business calendar like you include a marketing and sales strategy. Make sure you complete a whole feedback cycle, communicating back the results so participants know that you’ve listened.

3 Questions that SMEs can ask to get started:

(1)    A question that allows you to benchmark your business, such as the Net Promoter. How likely are you to recommend us to friends or colleagues on a scale of 0 to 10 where 0 is very unlikely and 10 is very likely. The 9s and 10s are promoters, 7 & 8 neutrals or passives, 6 and below are detractors.

(2)    A question you can put into word cloud software, such as Wordle or CloudMaker. Word cloud software will make words with a higher frequency bigger and a lower frequency smaller. It is a great way to see if the words you use to describe your business are the same as the ones your tribe uses. If there is a disconnect, then you need to take action to change that. When you think about My Business Help, what are the first 3 words that come to mind. Lara Solomon blogged about word clouds recently: http://www.socialrabbit.net/2011/08/it-looks-cloudy-online/

(3)    An open response question to get ideas. Ending a survey with just ‘Other comments’ doesn’t help participants give you ideas, but if you end with a question that is more specific you will get more useful information. If there was one thing we could do differently to improve your experience, what is it?

Distributing your survey on social media:

It can be a great way to get participants, but they could be the wrong ones.
If you’re going to make business decisions based on the results you need to know that your target market have done the survey, so either ask questions in the survey so you can find out who have done it and if they are your target market, or distribute the survey in another way.

You can also listen to a PODCAST of this interview.

Article by: Tribe Research: www.triberesearch.com.au

We hold Survey Design Masterclasses and have a Survey Design Review service so you can submit your survey and have it inexpensively reviewed by research professionals.
Our software www.tribaltoolkit.com has two tools: CloudMaker (word cloud generator) and ActionMap (shows you what you should be prioritising for marketing and business improvement).

Tribe Research: Explore | Uncover | Drive Change
office :: p | +61 2 8096 2546 f | +61 2 8028 9884
email ask@triberesearch.com.au

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Attract customers and ensure the ongoing success if your small business with this no-nonsense guide. Whether you own a bakery or a boutique, a plumbing or a finance business, this book gives you straightforward strategies to find more prospects, build your customer base and secure market share.

Small-business guru, Carolyn Tate empowers you to apply hundreds of high-impact and creative ways to market your business without breaking the bank.

You can purchase Small Business Marketing for Dummies here.

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In the 2007 movie The Bucket List, corporate billionaire Edward Cole and working class mechanic Carter Chambers meet in hospital and decide to do the things they’ve always wanted to do before they die. So why not take the same approach to your business and prepare your ‘Business Bucket List’? 

How many times have you heard people saying, “I’ll wait for the economy to pick-up” or “I’m getting ready for the next big wave”.  If you only had a year to improve your business and make a lot of money would you sit and wait for the economy to pick up? 

So why not make your ‘Business Bucket List’ now and see what you can achieve in 2011? 

Let’s get started with five items for business growth and survival that definitely should be on your Business Bucket List …

Create a brand not a business

Understanding the term ‘branding’ is the first step to successfully building a brand.  Search Google for ‘brand terms’ and get an impressive list of 13,400,000 results, from which you probably only need six …

Brand Promise – your Unique Selling Proposition (USP) and the benefits you deliver

Brand Identity – the mark/s that visually present your brand

Brand Image – the set of beliefs around what your brand stands for Brand Strategy – how you promote and build a positive perception in your customer’s mind

Brand Positioning – how your brand stands against others

Brand Management – maintaining consistency with your brand

Make sure you have all the elements of a strong brand and not just a pretty logo – it’s really one of the best investments you’ll make.

Own your slice of the market 

Imagine the power of owning your product name in the marketplace – like Kleenex is to tissues.  On a local level own your space so that when people need your product or service they immediately find your business.

Invest in an online business platform instead of just a smart looking website, it’s what’s under the hood that counts!  It should include a Customer Relationship Management (CRM) system, an e-newsletter and Blog platform that links to Twitter, Facebook and other social media marketing platforms and effective search engine optimisation.

 Create a memorable customer experience 

Successful marketing is about attracting and retaining customers with a total experience that stimulates all the five senses every time they come into contact with your business.

Introduce soft background music in your office or shop and provide mints or chocolates at reception.  Make your signage and marketing collateral visually appealing.   Do you have a fresh newly cleaned office smell? If not you could burn some relaxing incense.

Create a total customer experience and you’ll have them coming back for more – it really does make a lot of ‘sense’. 

Get more bang for your buck

Get a bigger bang for your marketing dollar by cutting out wasted, non-effective marketing activities. To do this however you need to measure what works and what doesn’t.

Sophisticated online and social media marketing can give you real-time results like who has received your e-newsletter, who opened it and where they went next.  Once you know what’s working you can put more of your budget towards that and take it away from activities that are producing mediocre results.

Reinvent the wheel

Just because everyone in your industry is doing things a certain way, that doesn’t mean you have to follow suit.  Get creative, be innovative and demand to be noticed for doing things differently.

Bring in your team for a ‘creative brainstorm’, research your customers’ needs or bring in a creative marketing expert who will see your business from the ‘outside’ and therefore start you thinking ‘outside’ of the square.

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No-one attends a networking function to be “social” regardless of what they say. Networking is a business development activity full stop.

Of course, this means that everything you do should be strategic and done correctly. Here are 10 steps to ensure you are networking strategically for your business and in the most effective way possible.

Step One – Be Selective

Just because you have been invited to something, doesn’t mean you need to go. Is it the right market for your business? If not, don’t go.

Step Two – Dress Appropriate

Put simply. You can never be overdressed but you can most certainly be underdressed. Don’t take the risk. Remember you are your brand.

Step Three – Do Not Sell

If someone asks “what do you do?” this is your chance to briefly tell them and turn it into a way of “teaching” them something from your area of expertise. If you are smart, you will ask them what they do and somehow share your knowledge in a way that will help their business.

Step Four – Mix It Up

Make sure you don’t stick with the same person or group of people at a function. Always leave them wanting more and mingle with the rest of the crowd.

Step Five – Be Strategic

Don’t just rock up to a function without a plan. Ask yourself: What do you want to achieve? E.g. meet an accountant, or meet two new people.

Step Six – Don’t be a Snob

You heard me. Don’t despise small beginnings. Just because you perceive someone as a smaller business or not that connected doesn’t mean they don’t have a Pandora’s Box of value to share. Likewise with larger businesses, they too are run by everday people.

Step Seven – Have Fun

Walk in with a smile on your face or don’t bother going. No-one wants to listen to your life story or your troubles. Keep the mood upbeat and positive.

Step Eight – Business Cards

Too many times I have asked for someone’s card and they say “oh I don’t have any on me”. Carrying your business cards everywhere you go in life is mandatory if you run your own business. Note: this doesn’t mean handing them out like lollies at the local fete. Wait to be asked.

Step Nine – Follow Up

If you have asked for someone’s card or someone has shown interest and given you their card then follow them up. Within the next week and with some helpful tips to remind them about what you do and why they should stay connected with you. Don’t stalk them!

Step Ten – Say NO

Many times people want to “catch up” for coffee or to chat. Remember, people think of themselves not of you – that is your job. If you don’t have the time or can’t see the value then politely say no.

Do you have any tips you would like to share?

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I recently spent the day with the amazing team from the RedKite Foundation discussing social media strategy. Yes… a blatant plug, but they deserve it!

We covered a lot of ground, but their CEO, Jenni Seton posed a very interesting question that I felt was worth exploring. The question went along the lines of figuring out how to remain relevant in a time when people tend to be narrow-casting.

Narrow-casting by definition is when people selectively tune out what they do and don’t want to know.  For instance, I don’t want to see advertisements for hamburgers, so I fast forward those ads on television. I unsubscribe to newsletters that don’t provide relevant & timely information and block people on Facebook & Twitter that don’t add value to the conversation.

And therein lies the key. Relevance and value. 

Without sounding philosophical, we tend to get caught up in our own world and/or the product we represent. Admit it…. nothing is ever as important as our own product.

Social media represents an opportunity for you to talk about your product to an ever-present and growing audience. And that conversation will be sustainable and rewarding, so long as you keep those magic words top of mind; relevance and value.

Using social networks as a sales and marketing tool requires you to interact. Gone are the days when you could send 10,000 glossy brochures to your entire database. Today, the key to using social networks to promote your product or service is to create a conversation. Think of it as bit like going to a party. You can’t just rock up to the first person you see and yell “You’ve got to buy my widget. It’s only $9.95.”

Instead, create meaningful content – or a relevant conversation if you will – about your product. Create posts that add value to the lives of the people you’re mingling with online. Try to solve their problems or offer solutions.  

Connect with people genuinely and listen to the conversation. Respond to their requests and monitor the discussions. If you strive to remain relevant and valuable, being outcast by the narrow-casters will be difficult.

Listen, interact and respond. You might just discover your audience’s burning needs and be able to create a window for your wares.

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Your image in the marketplace determines how people respond to your brand and creating the right first impression is vital to attracting long term customers.

A business image is made up of three main areas – your visual image, your sensory image and your subliminal image.  Together these combine to produce the ‘feeling’ of doing business with your organisation.  What kind of feeling do you want your business to convey - trustworthy, dynamic, modern, traditional, fast or caring for example?

So firstly let’s take a look at your visual image. 

Your visual image includes your logo, marketing materials, signage, online presence and advertising.  Everything from the colour palette you select for your logo to the typeface you use in your marketing determine who you are.  For example if the feeling you want to deliver is that of a ‘smart’ organisation then your logo should be sophisticated, clean and modern with colours that promote creativity and professionalism.

Secondly your sensory image.

This is where you can really enhance the company image.  A sensory image is looking at how your business communicates with the customer across all senses of sight, touch, smell, hear and taste.  A local fashion chain for example may create their ‘fresh’ sensory package in the following way – a plasma screen in the store showing people enjoying life in the clothes they sell (sight), convenient, brightly coloured changing rooms where customers are encouraged to try on the clothes (touch), incense or fresh flowers throughout the store (smell), background music or a water feature (sound) and chocolates, mints or fresh fruit at the counter (taste).

And finally the subliminal image.

This is how you ‘interacts’ with the customer from the wording on your website to the way your staff talk to your customers. It’s this image that helps forge a connection between the customer and your brand – the hidden feeling of wanting to keep doing business with you and not your competitor.

Why not test out your business image by being the customer for a change? Come into work as a customer and measure how your business makes you feel then look at ways to improve that experience.

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Do you have a Bright Idea? Or more than one? How do you know which one is worth keeping or exiting from?

Amanda Rose and Tony Eades presented on  how to turn your bright idea into reality by in 5 steps at the Sydney Hills Business Chamber Breakfast. Now the secrets are available for everyone.

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Many years of experience with my business and many of my clients has proven to me that marketing when you are happy reaps more rewards and saves you more money than if you marketed your business when you are unhappy.

Let’s look at what can happen if you market your business on a "low" or in a situation of desperation or stress, compared to when you market your business when you are happier.

Marketing Unhappy Can Lead To:

• Skipping crucial market research
• Rushed decision making without time to look at all the options and obtain more than one quote
• Wanting a quick fix instead of long term plan
• Danger of spending too much on the wrong things
• Easily sold too when looking desperate to marketing companies

Marketing When You Are Happy Will Ensure You:

• You don’t feel pressured to make a decision – can request more than one quote from providers
• Take calculated risks when you have all the facts and research
• Research your  target markets and save money doing it yourself over time
• Spend time asking other business professionals what worked for them
• Schedule your marketing activities over 12 months and track it

So, not feeling too happy at the moment? Then check out our article on how to be happy whilst running your own small business.

Happy Marketing!

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Another 5 great marketing tips for you to start implementing each day of the week.

Monday: Add a newsletter subscribe function to your website to kick start your database. Choose a double opt in, that is, once people subscribe they are sent an email to confirm.

Tuesday: Donate a product or service to a charity. Choose one that is close to your heart and offer without expecting a return. This will make you feel fantastic and also be a great sponsorship opportunity for your business.

Wednesday: Share your knowledge and hold a free seminar. Start by contacting your local business chamber or local government for places to hold them and for promotion. Make sure the seminar is what people want to know and is informative. Don't spend the whole time selling.

Thursday: Looked at your website statistics lately? Which pages are popular compared to this time last yr? Set some goals for your website e.g. increase page visits by 20% within 5 months. Schedule to review your website stastics every month.

Friday: Join a small biz forum like FlyingSolo and particpate often. Comment with honesty and professionalism. Don't use it as a sales ground.

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