growing a small business

Are You Updating Your Service Contracts?

February 25, 2020 By Isabel Isidro Leave a Comment

If you are running a business, contracts are an essential tool to understand the duties involved from each party. Contracts are needed to level expectations, state the deliverables, and specify each of the parties’ responsibilities. It is also a means to control your costs as a business owner.

But whether you are using contracts for your service business, for your suppliers or advertisers, the key question remains: Do you update your contracts?

As you enter into more contractual agreements, you will find yourself in situations where things could go wrong and will result in cost overruns for you. Worse, the existing contract your clients have agreed to maybe too vague, or the situation may not be specified in the contract.

Take for example a landscape contractor. His contract may include a clause on the company’s responsibility with regards to public utilities like cable TV, electric or telephone lines. However, the contract may have nothing specified, or too vague, with regards to private utilities such as underground pipe drainage. In the event that one of his workers break or damage the underground pipe when working on a landscaping project, the client may demand that the landscape contractor pay or arrange to have the damaged underground pipe fixed. Since the contract was vague and the issue of who’s responsible for such an occurrence is not adequately addressed, chances are the business owner has to fork the extra resources to get that damage fixed.

Or take a website designer. Her contract may state that one of the deliverables will include customized header designs. However, the contract does not specify how many revisions the client can ask. If she meets a highly demanding client who can’t make up her mind, she may find herself designing and revising the header more than 20 times, greatly reducing her billable hours for other clients.

In contracts, the devil is in the details. As you meet new clients or suppliers and experience different situations, you will be better equipped to define the parameters of the relationship in the contract. In the same way that you live and learn, you need to update your contracts to make sure that it reflects your learnings.

Originally published on January 28, 2010. Updated on February 25, 2020.

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Benefits of a Virtual Assistant or Live Answering Service for Your Home-Based Business

January 4, 2012 By Contributor Leave a Comment

This article focuses on the receptionist services that virtual assistants provide. Virtual assistants are capable of doing a lot of other stuff, but for the purpose of this article, we’ll assume they’re primarily answering your phone.

I’ve had a few friends ask me whether I thought their home-based businesses would benefit from a virtual assistant or live answering service, so I thought it would be worthwhile to write a post that covers my rationale for saying yes or no.

A virtual assistant or answering service can provide the professional phone presence that some small businesses lack, giving them the customer service capabilities that are normally reserved for larger competitors. On the flip side, integrating a service like this into your operation could prove redundant or unnecessary, bogging you down with organizational problems that small businesses should be able to escape.

You have to remember that the goal is to improve your business, not to embarrass the business owner down the street who uses his cell phone as a business line and answers with “Jim speaking.” I know it’s tempting, but business decisions need to be made with business in mind.

Okay, so how to decide? I would say a virtual assistant is a good fit if:

1. You’re too busy to answer all of your calls, or if talking on the phone eats up a lot of your time

If you’re going through the same processes over and over again, such as scheduling appointments or gathering contact information, these are things that virtual assistants are perfect for. Having someone field your calls will free you up to focus on other aspects of your business.

2. You currently don’t provide a business telephone number or, if you do, all callers automatically reach voicemail

The web enables a lot of businesses to operate without ever talking on the phone, which is nice to an extent, but a lot of people still want to speak with the people they’re doing business with. Furthermore, having a business line and having a real person answer it speaks to the legitimacy of your operation. So if you haven’t set up a business line yet or avoid talking to everyone by sending them to voicemail, a virtual assistant can help you out.

3. If your competitors provide exceptionally good or exceptionally poor customer service experiences

If it’s impossible to reach your direct competitor by phone, having your line answered professionally every time will help you stand out. Conversely, if they have an awesome customer service team that’s available by phone 24-7, then you need to step your game up.

There are certainly other things that could be considered before deciding to go with a virtual receptionist, but these three items are a good starting point. If nothing applies, then you may not find a service beneficial. If you’re questioning whether or not the way you’re doing things is the best, then it may need further exploration.

Do you have something that needs added to this list? A good or bad experience with a virtual assistant? Please share.

About the Author:

Melanie Cartwell is part of CMS Call Center and Live Answering http://www.continentalmessage.com.

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Increase Customer Base: Should You Be a Big Fish in Two Ponds?

July 7, 2011 By Isabel Isidro Leave a Comment

On a dark and stormy night…

Yeah, I know what you’re thinking. No serious writer would start his article with such a tired old cliché. You probably think I’m some boorish amateur.

But seriously, it is a dark and stormy night. And kind of lonely too. And other than the thunder, it’s awfully quiet.

It’s late Wednesday night, and I’m sitting by myself inside a barbeque joint in Kansas City, Missouri. There’s nothing like driving rain to keep people away from late-night pork ribs and baked beans, so essentially, I have the place to myself. In fact, I’m kind of surprised they bothered to stay open.

So, the scene here is set – stormy night, deserted restaurant, and a booth next to the window which constantly fills with flickering light from cloud-to-ground lightning strikes. It’s the perfect time to think, contemplate and reflect.

Right now I’m thinking about the day that was. It was a good day, a productive day. I attended a meeting here in Kansas City earlier this evening.

As a professional speaker, I’m a member of the National Speakers Association. It’s a professional association designed to help speakers become better at their craft and find new sources of speaking business. I joined NSA a couple years ago, but I was never a member of a local chapter. My city doesn’t have one. Kansas City has a very good one. The Kansas City chapter is 165 miles away, but it is the closest to my home. So, despite the distance, I attended a meeting and submitted an application for membership.

As a new guy, I enjoyed a warm welcome. The current members seemed amazed that someone would drive so far to attend the meeting. I heard comments like:

“Wow, I’m so impressed you came all this way.”

“Sorry you had to drive so far.”

I must admit at one point I did question myself, thinking it was an awfully long way to drive for a meeting, but then I remembered why I sought out this organization in the first place. Like people in any industry, professional speakers benefit mightily when they have a group of colleagues they can help and from whom they can receive help.

But as I quietly sat in that restaurant, another thought came to mind. By joining this “local” organization, I get the rare opportunity to build a “local” base in two geographic markets. In fact, it’s a privilege to be involved in a local organization outside my home market.

Think about it. I’m already well connected at home. I have lived in Omaha, Nebraska most of my life. I work there. I’m raising my kids there. I host a radio show there. I like it there. I already have great colleagues and trusted mentors in my home town. In other words, I’m doing things right at home.

By joining a local organization in Kansas City, I now have the chance to build friendships, develop referral networks and foster mutually beneficial professional relationships in a different place. It also gives me easier, more direct access to a whole new market of prospective clients.

It’s like I’m living two professional lives!

Hmmm…Perhaps I’m on to something. Maybe other people could benefit from this.

Admittedly, some readers of this article work only “virtually” or have a truly national or international focus. Most of us, however, benefit by having a strong local base. We can milk that base and also use it as a foundation, upon which we can stand as we chase national or worldwide business.

Given all of this, there are several questions you might want to ask yourself. How can you broaden your local base? What can you do to make areas outside your home market feel like your own turf? Does it make sense for you in your industry to dip your toes in two local ponds?

What a great day this turned out to be. Something as simple as seeking the closest NSA chapter appears to be leading me to potential benefits I didn’t quite grasp just a few hours ago.

I’m looking forward to seeing what opportunities arise from my new “local” colleagues in Kansas City, and I’m hopeful that I can help them do better in their businesses as well.

Uh oh…The bus boy is giving me dirty looks. I have overstayed my welcome. Problem is…I don’t want to leave. I like it here. It’s really cool sitting by this window thinking and writing – protected from the storm.

Oh well, all good things come to an end. I just hope I can run to the car fast enough to avoid a complete soaking. After all, the 165-mile drive to my real home town won’t be comfortable if I’m drenching wet.

About the Author:

Jeff Beals is an award-winning author, who helps professionals do more business and have a greater impact on the world through effective sales, marketing and personal branding techniques. As a professional speaker, he delivers energetic and humorous keynote speeches and workshops to audiences worldwide. You can learn more and follow his “Business Motivation Blog” at http://www.JeffBeals.com.

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Overcome Your Fear of Trying Something New

June 28, 2011 By Isabel Isidro 1 Comment

Sometimes you’re presented with opportunities that allow you to gain new markets, grow your business and increase your income. It’s a great opportunity that you may have hoped for or even actively pursued. In some cases, it may be an opportunity that you never expected and simply fell on your lap.

But with excitement and anticipation comes fear and trepidation.

What if you can’t do it? What if you’re in way over your head? What if you are not skilled enough, or equipped enough to handle the challenge? What if you’re already stretched too thin? What if you don’t have time to do this new opportunity? And the biggest fear of all – what if you fail?

Guess what? It’s ok to feel scared of these new projects and opportunities. It’s ok to sit down and spend a considerable amount of time thinking about these new things.

Here are some things that can help you overcome the fear of doing something new:

Make a list of pros and cons why you should – or shouldn’t do – the new opportunities. This can help you better understand what’s at stake whether you push through or give up these new things.
Be open to learning. Open your mind to learning something new. Welcome the idea of working on something new, something that will challenge you. The only way to improve and grow is by learning new things that can better help your life and business.
List down what you can benefit from doing it, and see whether it outweighs all the negatives.
Talk to people you trust, know your strengths and weaknesses, and most likely to be affected when you embark on this new opportunity.
Research these new tasks and inform yourself. Fear often stems from the unknown – not knowing what it entails, what the processes are, and how to do it. Check out the websites of companies doing similar things and study how they present the tasks. Talk to people already doing it. The more you learn what’s involved, the more confident you will be in facing these new challenges.
Practice, practice and practice. Go slowly and practice these new tasks. The more you practice, you’ll gain more confidence, and be better prepared meeting these new challenges head on.
Know that you can stop anytime. If this opportunity involves contracts, make sure that there are exit clauses that will allow you to get out of it should you feel that you cannot really do it.

As an entrepreneur, you will always be faced with new opportunities – new projects, new clients, new strategic directions. These new opportunities can spell growth for your business. Take your chances. Just remember to balance your excitement to do these new things with the realities of your present situation. Listen to your fear, but see if the positives outweigh the negatives. Most importantly, believe that you can actually do it. Have faith that you can do it, and that you will succeed in this new opportunity.

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How a Bookstore is Surviving Tough Times

June 7, 2011 By Isabel Isidro Leave a Comment

The bookstore industry has been hit hard by the changing times. Bookstores are slowly disappearing, and the industry climate remains dim and challenging. Bookstores now compete with online behemoths such as Amazon.com where the selection is very wide and varied, and oftentimes offer lower prices than the traditional type of bookstores.

Bookstores are also suffering from the growing popularity of digital books. Ebooks are gaining steam with the popularity of portable ebook devices such as Kindle, Nook and tablet devices such as iPad. The International Digital Publishing Forum reports that sales of ebooks are on an upward trend , indicating that users are starting to exchange hard cover books with digital formats.

As a result, many independent book sellers are closing shops. Even the big bookstore chains are suffering: Borders filed for Chapter 11 bankruptcy in February 2011 and had to close a lot of their stores.

Given the tough economic climate, it is interesting to see how the small independent bookstores are coping – and surviving.

Learn how one independent book seller in Florida is surviving and thriving despite the grim prospects of his industry. Read “How a Bookstore is Surviving Tough Times”

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Tale of Two Ice Skating Videography Businesses

May 26, 2011 By Isabel Isidro 4 Comments

[tweetmeme]I’m an ice skating mom. My two oldest boys, aged 8 and 6, are both passionate about ice skating, and we spend a great deal of time in the rink.

My boys recently started doing the rounds of figure skating competitions in and out of our state. Local figure skating rinks typically hold a 1- or 2-day competition once a year for various age or test level divisions. During these competitions, the ice skating rinks typically hire an official videographer to capture every performance on the ice.

It was during these ice skating competitions that I met two videography businesses that are an interesting study in contrast. While they offer the same product — videos of the kids competing in the ice skating events — the two home-based businesses are so different that they are almost like night and day.

One is the official videographer of an ice skating competition in Maryland, and the other is the official videographer of a competition in Virginia. Both are home-based operations: the one in Maryland is run by a husband and wife team, while the one in Virginia is run by a couple of twenty-something guys.

The first difference is in their acceptable modes of payment.

The Virginia twenty-something videographers accept credit card payments in addition to checks and cash. They use an iPad that has a credit card processing app provided by their merchant account provider, with a small credit card swiping mechanism. Customers sign on the iPad using their fingers, and an email confirming the receipt of payment is immediately sent to the buyer. Talk about the wonders of technology!

In contrast, the Maryland couple only accepts checks and cash. They don’t have a mobile or remote credit card processing equipment, so they dissuade customers from paying by credit cards. If customers insist on paying by credit cards, they have to write their credit card numbers and information in the order form. If the kids compete in more events, the higher the price the parents have to pay — cash that they may not have with them during the event.

The content of their videos is also different.

The videos produced by the twenty something Virginia videographers showcase the events with no editing done and no sleek introduction. If your kid skated in Event 20, you get the video of the entire Event 20, including other kids in that event. The benefit is that it allows you to see how your kid’s competitors performed.

On the other hand, the video from the Maryland couple has been edited to show only your kids. It also includes an elaborate intro of the whole ice skating competition to give viewers a sense of the experience, including footages of the other vendors in the event and montage of other kids that participated.

But the biggest difference between the two vendors is the speed of delivery.

The Virginia twenty something videographers processed the videos right there on their makeshift table outside of the ice skating rink. I was able to get and take home my kids’ videos about 30 minutes after the end of their events.

On the other hand, the Maryland couple sent the DVDs two months after the event. The editing and the production of the intro may be the reasons why it took them a long time to deliver the product.
Two similar businesses, possibly even competitors, but such huge difference in how they run their businesses and deliver their products.

Every business needs to look at the competitive landscape. It can give a sense of how your business is doing, provide ideas on what and how to improve, and identify opportunities based on your competitors’ weaknesses.

In any economy, your business stands at a huge disadvantage if you can deliver your product two months after the purchase when your competitors can do it immediately. You lose any competitive advantage, more so if you are in a sector that requires competitive bidding (you will not get any jobs!)

Here are some of the things that the Maryland videography business can do to improve their business:

1. Solicit feedback from customers.

In ice skating competitions, there are participants that compete elsewhere and regularly. Others belong to different ice skating clubs (including out-of-state). The parents of these kids are most likely to have ordered videos from other videographers in various ice skating competitions. While these parents are filling up order forms or choosing the events they want to order, the Maryland couple could take the opportunity to inquire about previous videos the parents have ordered. They could casually chat with the customer and ask questions like, “Is this your first event” … “If you participated in other competitions did you order their DVDs” … “What do you like to see in an event video” … and “How do you find the other vendors,” .. etc.

When you have the opportunity to interact with customers — whether face to face or online — ask them what they want, what they really think about your products, what do they want to see in your products, and even what they think about your competitors. Many of these customers will be willing to share their stories and experiences with other vendors. You not only get to know your customer, what they want and need, but you also get the inside intelligence of what others are doing.

2. Determine what is the most important factor for the customer.

The two businesses differed in timeliness of delivery and quality of content. The Maryland couple should have asked their customers: What is more important for you — that you get to take home the video immediately, or that the video be slickly produced? My personal preference is to get it as soon as I can so my kids can watch how they performed. I’d rather get the product quickly than see a slick video montage introduction that takes 2 months to complete. Plus, with the advent of social sharing, I’d rather have the video as soon as I can so I can share it with my friends and families.

It is important to get feedback as to what factors are important for customers. In fact, big businesses conduct market surveys about their customers’ preferences, so they know what their customers view as important. They typically draw up a list (say, top 10) of features of their products, and make the customers rank these features. They then incorporate these factors into the product development, and highlight those features that consumers say are important to them in their marketing and advertising campaigns.

Take for example ice skating videos — the factors could include speed of delivery, elaborate introduction, shareable formats for easy upload to Youtube or Facebook, getting the videos in a DVD or the more portable USBs, etc.

You may not have the resources to hire a marketing firm, but you can talk to as many customers as you can and ask what is important to them. If possible, ask them to rank these factors in order of importance.

3. Embrace technology.

The Maryland couple used paper forms, and didn’t even have a computer in their table during the ice skating competition. The twenty somethings had computers, DVD replicator machines, printers and an iPAD with mobile broadband access that allowed them to accept credit card payments and deliver the product right on the scene. With everything right there on their small table, the twenty-somethings were able to produce the product immediately. They didn’t have to spend the next two months creating, processing and delivering the DVDs, unlike the Maryland couple. Instead, they are ready to move on to the next job and earn more revenues for the business.

Technology could change the way you do business. It is important to always be on the lookout at what technologies could help you become more efficient and effective. After all, the equipment and technologies you buy are considered business expenses that you can claim as deductions for your business taxes.

Your competitors can show you opportunities to improve your business. Take the time to see what others are doing. Look at what they’re good at. Understand what makes them attractive to customers. Find things that they do poorly that you can improve upon, and use that to your advantage. In business, you don’t always have to reinvent the wheel. Sometimes, all you need is to look around you and see how others are running their businesses.

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How Entrepreneurs Should Face Business Challenges and Manage Change

May 17, 2011 By Contributor Leave a Comment

We’ve all heard it before – “if it we haven’t thought of it then it isn’t worth doing.” “No one knows our business better than we do.” This attitude is referred to as the “not invented here” syndrome. Consultants have seen it for years. Department managers and employees use it to fend off outside influence from other departments or intervention from consultants or advisors. Regardless of where the invasion is coming from, protectionism is the defense.

“Not invented here” is a cliché. But like many clichés or popular beliefs, we tend to think there is truth in the statement. However, “not invented here”, is a problem and it serves as a form of organizational resistance to change. “Not invented here” conveys an important message – “if I am not involved with defining the situation and working on solutions, then I am not interested in your ideas, opinions or solutions.”

When an organization is facing business challenges, it has 3 options:

Do nothing
Understand the challenge and create solutions
Hire outside help to assess and facilitate the solutions.

Assuming that the challenge is real and that it presents a threat to the organization…

Option One will lead to a further deterioration in organizational performance.
Option Two will work if the members of the organization possess the skills, knowledge, objectivity and support to identify and implement the required change.
Option Three will work if it is combined with Option Two.

Using outside resources can be important for an organization, especially if the business leader believes that an objective third party may have broader experience in identifying potential solutions. The danger, however, is to engage a third party who has a one-size-fits-all solution. And it is this attitude that reinforces and solidifies the “not invented here” syndrome. In fact, run quickly from anyone that has a solution to your problem before they fully understand it.

Steps to Managing Business Challenges

When your organization is faced with business challenges, here are 7 steps you should take.

1. Understand the Problem –

Do this before anything else is done. Take the proper amount of time to talk with and listen to people (inside and outside the organization). Look at the numbers and compare it with the general marketplace, the economic trends and the trends in your industry. Objectively understand the issues. If this step is missed, a good solution will only occur by pure chance.

2. Identify Options –

Whether it is in a brainstorming session, a general discussion in a series of meetings or in any other organized forum, it is important to identify potential solutions. At this stage it is important to identify solution options and not just one solution. Many people stop at the first or easiest solution.

3. Select an Option –

To select the best solution as determined by the group and the evidence there should be healthy discussion or even a vibrant debate. The risks and gains of each option should be vetted before an option is selected. It is at this point when the influence of the owner, unit head or outside third party should be tempered. One person’s influence, especially a person in authority or an outside consultant, will solidify the “not invented here” behavior and the chance of implementation success decreases.

4. Understand What It Will Take to Implement –

You need to know what it will take in time, money, personnel and other resources to implement. When a solution is chosen, detailed planning must occur so everyone involved in the implementation fully understands the investment and commitment required for a successful outcome.

5. Prepare an Action Plan –

Your plan should describe…

What will be done (the task)
Who will do it / who is responsible
When it will get done
Important milestones or benchmarks
Resources required/anticipated

Remember, in most cases, whoever has assigned responsibilities for this project also has another job to do, as few organizations today can afford to put a dedicated team on a project. This is why an Action Plan with
tasks, due dates and individual accountability is important.

6. Implementation –

This needs to be managed and managed well. Regular status meetings must be held to track implementation progress. If the project is getting off track, awareness should swift and corrective action should be taken immediately.

7. Evaluation / Post Implementation Follow-up –

After implementation, the working group should evaluate lessons learned. That is, what went well, what could have gone better, what was learned in the process, and did the change initiative have the intended impact (desired result) on the organization.

If these steps are followed, the chance of successfully implementing a change effort will increase. It will increase because the members of the organization most effected by the change initiative will have been involved with the problem and solution identification. This is a powerful engagement and retention strategy. It’s your business. It’s your future. Take hold of it and “invent it here”.

About the Authors:

With more than 50 years of experience in leadership strategies, organizational development and transition management, Tony Kubica and Sara LaForest helps executives and organizational leaders manage marketplace changes so they can improve business performance. Failing to take the actions in this article is just one way to sabotage growth – uncover many more ways in their free report at: http://www.kubicalaforestconsulting.com

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7 Market Focused Questions You Must Ask to Help You Grow

March 30, 2011 By Contributor 3 Comments

There is a lot of attention directed at small businesses this year. President Obama talked about the need to help and support small businesses in his State of the Union address. And one outcome was the launch of Startup America Also,states are talking about easing regulations and the tax burden on small businesses in their quest to reduce unemployment.

Is this the year of the small business? Possibly.

Is this an opportunity for you as a small business owner? Maybe.

Now, a Warning to Small Business Owners…

As a small business owner, however, it is not a good strategy to hope that the federal or state governments will pass the right legislation and write regulations, which will help you succeed in the next 12 months. Hope may spring eternal, but it is not a good business strategy.

Be wary of generalizations about how the economy is doing: who the winners are and who the losers are or will be. It’s distracting and frankly, it’s filled with conflicting information.

It’s like trying to decide on what is the best way to add 10 years to your life. You would be correct if you said – it depends on whom you ask. A dietician will tell you to focus on good nutrition. A trainer will tell you to exercise and use protein supplements. Some physicians would say hormone therapy. As the adage goes: when all you have is a hammer, the whole world looks like a nail.

Yes, we’ll admit that the economy is showing signs of recovery, but the real question is… whether it’s showing signs of recovery for you and your business. To answer this question you need to stop thinking like a small business owner and start thinking that you are running a multi-million dollar enterprise. Why, because many small business owners tend to think like a small company. And the answer to growth is to think big.

Here are 7 Questions to Think About and Respond to When Planning for Business Growth:

Do you have a strategic vision that outlines your business direction for the next 12 – 24 months? And if you have employees, do they know it?
What is your stated mission (or purpose) statement? How is it communicated to your employees, and how does it help drive business decisions?
Do you have stated, written and practiced company values to align how you and your employees work together and serve your customers?
Do you have a branding strategy that promotes how you want to be seen by prospects and clients and articulates your competitive advantage or differentiation from your competitors?
Do you have standard monthly financial reports to track the financial health of your business and to help drive your decisions?
Do you have outstanding customer service? If you can’t answer based on your customer’s feedback, loyalty, references and testimonials – your answer is not yet.
Do you have an exit strategy for your business? Every business needs to have a sense of what the end game will look like. It drives growth and helps focus business decisions.

How did you do in answering these questions? Did you have thoughtful and detailed answers for each question? When we talk to small business owners about these questions they often remind us that they are small businesses and not GE, Nordstrom’s or Zappos. And that’s the problem.

We have also seen companies that believe answering questions such as these is a waste of time.

Why Our 7 Vital Questions for Small Business Owners Who Want to Grow Their Business Is NOT a Waste of Time?

A small research oriented company who had been in business for 10 years was modestly successful. They were concerned, however, that although they were able to come up with a strategic plan every year, they were not disciplined enough to implement the tactics required to achieve the plan. And they really didn’t have to. Business came in and they were comfortable. You have likely heard us reference that success can be your greatest inhibitor to growth. And, the issue for them was that they weren’t growing.

They decided to re-focus their efforts on growth. To do that they:

1. Looked deep inside themselves and their business and discovered they were missing a number of ingredients for small business growth success. They uncovered this realization simply by honest answering our 7
questions.

2. Established company values to guide their work together and in serving their clients

3. Created their strategic vision (ideal future state)

4. Refined their purpose (or mission) statement

5. Identified key strategies and tactics to implement the vision and created accountability by assigning those to lead individuals. Progress on tactics was reviewed quarterly, with general updates given monthly.

6. Candidly discussed how they worked together and how work should be distributed to take advantage of each partner’s strengths

7. Identified their target market and the market niche

8. Created tracking and reporting tools and a process to monitor sales

9. Created a financial reporting system, reviewing it monthly and using ratio analysis to do a year over year comparison

10. They are embarking on a re-branding strategy

11. They are working to identify and develop an exit strategy

They started this initiative in 2008. 2009 was the best financial performance year they had in the company’s 10-year history. 2010 was almost 40% higher than 2009. And note this was accomplished in the worst economic downturn since the Great Depression.

So what really happened? Were they lucky? Were they in the right place at the right time? No – neither of these can explain their growth. What they did was stop thinking small. They stopped behaving like a “mom and pop shop” and decided to focus on growth.

So, we encourage you to take a dispassionate view of your business. Stop listening to the generalities and honestly and thoughtfully respond to your own market-focused questions we suggested. Thinking small will keep you small; thinking big and planning big will lay the path to your growth.

About the Authors:

Management Consultants and Business Performance Improvement Specialists Sara Laforest and Tony Kubica have 50+ years of combined experience in helping small and large entrepreneurial businesses accelerate their business growth in record times. Now, you can learn how to think big and avoid the self-sabotaging behaviors that most owners possess at: http://www.kubicalaforestconsulting.com/report.php

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How to Use Workshops, Seminars and Events to Grow Your Business

March 12, 2011 By Contributor 2 Comments

[tweetmeme]Offline marketing is sometimes ignored by solo service professionals – but it shouldn’t be! By holding workshops and in-person appearances in your local area, you can increase your income, raise your public profile, and build a foundation for a stronger business in the future. In addition, you help build your relationship with your audience. You’ll be able to get to know your local target market while you’re earning revenue from the event AND laying the foundation for future upsells to other products and/or services.

Here are four steps you can use to create a winning local event that can build your solo service practice.

1. Find a venue to host your event.

First, you’ll need a suitable place to host your event. Check with your local chamber of commerce, your library, your local SBDC office or other office/meeting spaces in the area. You may also try a restaurant or a co-working space. For example, here in the Bay Area we have a company called Sandbox Suites that rents meeting spaces inexpensively. The size of the space that you reserve will give you a ballpark figure for how many attendees you can accept.

2. Charge an inexpensive registration fee.

An inexpensive registration fee will make your events a stream of income for you. Depending on the length of the event and the value to your audience you can price it anywhere from $29-$99, but keep the fee low so it’s a “no brainer” decision for attendees. You can set up an online registration form with EventBrite, so you’ll know how many participants will attend. If you expect you’ll be hosting regular events, you can use MeetUp to organize your group and schedule recurring meetings.

3. Over deliver on information.

Even though the event is low cost, you shouldn’t skimp on the information! Over deliver on info and make sure that your audience walks away with an actionable plan that they can follow when they leave. You can create a worksheet or workbook that attendees can use to take notes. It will keep them invested in your presentation and give them something to use when they leave. On the day of the event, be sure to bring your worksheets, your business cards, extra pens, name tags, and the RSVP list so you’re prepared.

4. End the presentation with a strong call to action and irresistible offer.

Your attendees will probably want to know more information than what you have the time to present, so make sure that they know how they can continue working with you! Create a special offer for your services that is just for attendees. The offer should only be available on site that day. It should build on the training that you offered in the presentation so they can pick up where you’ve left off on that day. Offer a payment plan so it’s affordable, and wrap up your presentation with a call to action urging them to take advantage of this offer NOW!

With these four keys, you’ll have the makings of a professional quality, informative, and money making workshop. You’ll be able to make money from the event and build up your network of potential clients in your local area. Follow up with attendees regularly by sending them a written thank you card, and offering to add them to your email newsletter list. Doing local workshops and classes can open up a whole new door for your business.

About the Author:

Sydni Craig-Hart, expert marketing consultant for service professionals, supports her clients in creating success – in both their businesses and lives. Known as “The Smart Simple Marketing Coach,” the tech-savvy Sydni uses a results-focused, “how to” approach in implementing simple, customized strategies so service professionals create profitable businesses in which they enjoy the lifestyle they choose. To tap into Sydni’s expertise, get your free Smart Simple Marketing Starter Kit at www.SmartSimpleMarketing.com.

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Partner for Exponential Growth: The Joint Venture Redefined

January 29, 2011 By Contributor Leave a Comment

[tweetmeme]These days, everyone seems to be talking about Joint Venture Partnerships, yet there is little definition surrounding what joint ventures are and how you can make them work for you. Let’s shed a little light, shall we?

By traditional definition, a joint venture involves partnering to create a new entity and/or assets by combining equity and resources, then sharing in the revenues, expenses and assets of the partnership as agreed upon.

Today however, we’ve come to embrace a new definition, shaped by the rapid growth in solo-entrepreneurship and the evolution of online marketing. Everywhere you turn you’ll see entrepreneurs collaborating. The most common types of partnerships are Cross-Promotion Partnerships and Co-Creation Partnerships.

Cross-Promotion Partnerships

A Cross-Promotion Partnership is the simplest form of partnership and happens when two or more entrepreneurs partner for purposes of promoting their businesses, services, products, articles, events, etc. Typically short-term, cross-promotion partnerships do not require the combination of equity and/or resources, and they do not result in the creation of a new entity. Although generally simple arrangements, it is a good idea to make commitments in writing to be sure that all partners are engaging in a high-energy, high-integrity partnership. Cross-Promotion Partnerships are great for list-building, networking, establishing expert credibility, reaching new audiences and other non-revenue focused business building goals.

Co-Creation Partnerships

Co-Creation Partnerships are more traditional joint venture partnerships. This is when two or more people come together to create a new product, service, program, class, workshop, event, brand, etc. Co-Creation Partnerships are typically longer-term (6 months +), more complex, revenue-producing partnerships. It is essential that you draft and sign a mutually agreeable partnership agreement prior to investing time, resources or capital into a Co-Creation Partnership, so that all partners are aware of expected contributions and expected benefits. Since Co-Creation Partnerships usually result in the creation of a new entity, it is important to remember that you will need a comprehensive Partnership Plan, which includes a marketing strategy, as well as product development and delivery plans.

No matter which type of partnership you choose to explore, you can be certain that partnering is a great way to take your business to the next level. Always remember to think through your strategy, have a comprehensive plan and make sure you and your partner(s) are on the same page!

To learn more about integrating your online marketing and partnership strategies to spark exponential growth, visit http://jessicazsolutions.com . Or come to the next JV Coffeehouse ( http://jessicazsolutions.com/the-jv-coffeehouse ) where you can learn new partnership strategies, meet potential JV partners, and have your JV questions answered by an expert!

About the Author:

Jessica Zambarano helps entrepreneurs and small business owners integrate online marketing and partnership strategies to spark exponential growth. Her business, JessicaZ Solutions ( http://jessicazsolutions.com ), provides one-on-one strategic consulting, group cross-promotion opportunities and free resources for entrepreneurs and small business owners interested in building their business through the power of partnership. She enjoys facilitating connections between entrepreneurs, seeing them support each other as they build successful businesses.

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