WE ARE TALKING IN 2016

MY NEW BLOG FOR YEAR!!!!  WE MADE IT, RIGHT??

We are all up and we are ready to tackle yet another year of making that difference! So let me lay my cards on the table because this year that is my approach. I am no longer holding punches because if I don’t punch I get knocked down. And If I don’t swing then people won’t even know I am a fighter.

And to the point for the today......  

What is the biggest motivator for us business owners today! It is when we make a sale! How elated do we get when we have landed an offer and sealed the deal! Don’t you feel energized!  You are confident and ready to tackle the next one.  You can give yourself a pat on the back and tell yourself, OK, maybe I can do this! RIGHT!  ABSOLUTELY!!!

But let’s be serious…after you have tapped your family and friends you have to reach out to uncharted territory and THAT is where you will be living.  So in regards to SALES, How will you make that connection?  How do you find that customer that wants what you are selling?

SO for myself I ask the very same questions.  I will tell you what happened to me however just recently.  After looking for courses on Sales, and reading blogs and webinars about how to close a deal, I found the answer my friend is blowing in the wind. IT IS ALWAYS the simplest solution at times.

When you are in the grocery store, management knows you are there to buy something but they don’t know what?  That is why they have sales folks on the floor asking you….”Is there something I can help you find?” Is there anything that you need?  As a customer we sometimes just want someone to ASK us so we can just be led.  Sometimes when someone asks us it actually helps us identify why we came in the store in the first place (I know I can be easily distracted).

SO HERE IS THE DEAL… think about your business and what you offer. You have to just have a conversation with the next person you talk to and ask them what they are looking for?  Ask them if there is something that you can help them find? If the answer isn’t directly tied to your business that is fine. You may have to redirect them or maybe cross sell and help them.   The next time they see you they just might ask you the same question. Its reciprocal and it works!! 

There are however a few things to think about as you go through this process.

•  Think outside the box.  What someone is telling you is what they need.  It might not be necessarily within your business scope but they will love you for taking and interest and being able to help them solve for it.  Do discard that, be a resource whenever you can.
•  Be accessible.  Give them your access to contact you if they need anything or to follow up to find out how things went. You have a potential client, ALWAYS.  Don’t just hand them a business card. If you are able take their information, name and phone or email.  Or just ask them to find your business on Facebook. Make a connection regardless.
•  Be efficient. For yourself and for them.  Be cognizant of their time so don’t belabor the conversation needlessly.  Speak decisively and leave them the opportunity to close.  No want a sales person that won’t leave them be.

The funny thing is I don’t consider myself a SALESPERSON but I am in business to make sales.  AT THE END OF DAY (favorite tag line), it all comes down to customer retention.  Finding that potential customer and making him your customer for life.  It may happen that day. It may happen months from that date. The key is to be there when they are ready.

TRY IT OUT…if nothing else but for practice just talking to folks.  You are now in uncharted territory but to navigate is not as hard as you think!

Leslie Crudup writes for The Business Liaisons, LLC – Business Consulting

www.thebusinessliaisons.com

Marketing...Don't Stress It So Much!

It is not that deep really.   So you have thought of branding and marketing yourself?  The concept is pretty straight forward and you can read tons of articles and books and attend online and offline seminars and you will find the outlay is pretty much the same. 

The pertinent piece to the puzzle is putting in the work!  You have to put in the work and the time to get the results for which you are looking.   And the money that is needed is another factor.  If you don’t have the money then you REALLY need to be creative and put in even more of the latter!  You have to map it out and you have to write things down.   You know the saying. If you fail to plan, then plan to fail.  So in essence it is about putting pen to paper and foreseeing the vision.  You have to visualize your brand before you and then the marketing will come thereafter.  Brainstorm!  Just start writing!  And here is how!!

•   Take out a blank piece of paper and make two columns or fold the paper in half the  long way.
•  The first column should say Brand and the second half should say Marketing.

 You have to begin with branding before you can do any marketing.  Marketing is the process of advertising and relaying your brand to the masses.   So ask yourself the basic branding questions below and jot down the words, or phrases that immediately come to your mind when thinking of your business. This need not be anything formal as this is only for your eyes at this point.  So you are writing…here are some questions to help get you started.

1)     What is my mission?

2)     What is my vision?

3)     What makes me happy and excited about this business?

4)     What is my passion in general?

5)     What kind of person am I?

6)     What is my personality?

7)     What do I want customers to know about me?

8)     What difference do I want to make?

9)     What is your story?

10)  What do I have to offer?

Once you have finished this section now you can start looking at the marketing side.  What can you do you to show people who you are based on what you wrote in your brand?  Notice I didn’t say so much about the product or service you are selling yet.  It is important to know who you are before you can sell anything and to that how do you want to relay this information.  I want you to think of what type of marketing would bring out the best of who you are!   Are you the serious type, concise and to the point?   Are you funny, whimsical and like to laugh about life?  Are you the studious owns, that likes to get people thinking, or engage them in learning?   What is your style?   Are you a story teller or a get to the point type of person?  These are all questions that just speak to how you will market yourself.  It is the foundation of your marketing plan and strategy. 

Why do I refer to your style first before you sell your product or service why?   Because people are buying an experience.  They want to feel the way you do about your business, they want feel your personality as that relates to them.  Why do you think you see commercials that at the onset have little to do with the item they are selling?  They are selling an experience.  They want you to feel first.  They want you be happy, or be encouraged or be educated.  They want you to know they feel the same way you do and that is why they believe in their product or service and want you to as well.

Marketing can be anything from doing mailers, emails, posting instructional videos, showcasing testimonies, showcasing customers, posting media that speaks to your character, fun and whimsical commercials or characters to serious and profound statements that get someone’s attention. It can be providing giveaways to marketing or partnering with someone on an event that speaks to your brand.  The sky is really the limit.  Brainstorm all day if you have to!

Below is my sample sheet of what this may look like and I hope you do take the time to do the same.  I know there are so many spins on this that you can come up with.  Have fun with it and take the time to   explore yourself.

NOW after you have gone through this exercise you can then integrate your product or service.  And watch how easily it will come.  You will feel more like yourself and you will feel more like your business and that is what you want for your customer…relatability.   It makes for a dedicated and repeat customer!

Major companies rely on this type of thought out marketing to build their brand as well.

Red Bull uses its sponsoring of extreme sport events to reach and target its market.  The company identifies their customer with things they would like to do themselves and this is for the participants and the spectators!

Airbnb created a community marketplace for people to list and book accommodations around the world through a social media campaign centered on the hashtag #OneLessStranger.  They simply asked the community to perform random acts of hospitality for strangers, and then take a video or photo with the person and share it using the hashtag.  Here they appeal the spirit of their customers in identifying them as the giving nature…much like themselves!

Coca-Cola is a great example of a brand using international marketing efforts. Though a large corporation, Coca-Cola focuses on small community programs and invests a lot of time and money in small-scale charity efforts.

It makes perfect sense doesn’t it?  I think so.  In a world where people are just searching for belonging it is so important to find what makes that person your customer. Yes it comes back to just knowing yourself and then knowing your customer.   The key is to find the opportunity to relate.

So you see this isn’t as hard as it seems conceptually.   The first step is the hardest however.  Block out time from your schedule, start with a blank slate and your imagination and write!  Put PEN TO PAPER!!

The Dog Had Me Committed!!

THE DOG HAD ME COMMITTED!

I am sure writing this I am not alone.  Sometimes you wake up and you already feel as if the wind was taken from your sail…and this is before you get out of bed, right?

Chocolate Chip, my chocolate lab!  Every morning I wake up and I take my dog Chip for a walk.  As soon as I wake up I can hear him as he comes running up the steps over to the side of my bed.  His tag is wailing profusely and he starts jumping on me and trying to lick my hand.   He knows that it is time for his walk. 

Oh BOY, Mommy is up!  He and I have a morning regime.  5:30am every day we take to the darkness to stroll the neighborhood.  This is his time to stretch his legs, take care of his business, and sniff out what is new and to basically get started with his day.  When we come back from our walk he then runs to his bowl for water.  He laps like crazy and then he proceeds to plop down on the dining room floor.  He is very content now.   He could care less if he is in your way.  He watches us in kitchen and I swear I can see a faint smile on his face.  He has given me permission to proceed with my day.   Now if I wake up and I begin to do anything other than reach for his collar he becomes agitated.  He is annoyed because that I am running late and not tending to the matter at hand…his morning walk.   He will nag me like crazy!  He nudges his bowl around, he whimpers, he will even come over to me and kick my knees (eww, right?)  The key is he makes it very obvious that his needs have not been met.  I have to give to him, he is persistent.  He knows what he wants and if he gets it he is happy, if not he lets you know. 

I suppose I should be looking to him for inspiration.  I should be looking to him for the answers to what I need to fulfill my dreams.  If I want something then I need to be persistent about it. I need to be excited and I need to be committed.  I can’t be content if it hasn’t happened.  I look at him when he is begging me to take him out and I do think…oh what a pain.  But you know what….to him, either its’ going to happen or it’s not.  He is committed from the time I wake up to the time we walk out the door.  He is committed when it hasn’t happened as he resorts to antics that persuade me to get the job done.  I have to love him.  Today he is actually the wind in my sail.  He has inspired me to be persistent, don’t give up and stay the course.

 

THREE THINGS TO REMEMBER to keep the wind beneath your sail.

• Get up and be thankful you are up! SMILE and be excited because you have the opportunity today to make a difference.
• Get on with it, map out your day and just stay the course, set your daily objectives (I live by a TO DO LIST).
• When something is not going the way you foresee it, find a way to make it happen.  You don’t have to beg like Chip but certainly look for plan B to get it done.
• I can’t believe the dog had me reassessing how I should be persistent with my business.  He showed me tenacity and he should me perseverance. Who knew so much would come from a morning walk! 

It is the simplest of reminders that show us what we need to succeed. Don’t overlook them!

Leslie Crudup writes for The Business Liaisons, LLC – Business Consulting

www.thebusinessliaisons.com

Free Advice Below and It Will Cost Ya!!

So those that are anything like me you are always researching and reading and in search of opportunities to improve your business.  I read as much as I can and I watch videos and informational shows all the time about being a business owner.   Entrepreneur has to be the most commonly used word these days.  With economic struggles and the instability of the corporate arena, more and more folks are looking to do it themselves.  They are looking to get into business and call their own shots.

Well I watch Shark Tank and Profit just as everyone else and TED talks is one of my favorites!  The same message is made in every avenue of starting a business. It is hard work and you need to know where you are before you know where you are going.

If you are already in business or just starting out it is imperative that you know your financial position, today so you know where you want to be tomorrow.  It is broken down in the components below.  Focus on these and no matter what continually review and assess. It is a cyclical process and you have to remain persistent.  You have to look to people that can help you if you can’t do it yourself.  The key however is to DO IT!

Revenue – How much money is coming in, daily, weekly, monthly, yearly? You have to keep track of how you are performing at different increments of your time.   You should have an idea already of what you need it to be so now you should look to see how close or far you are from that target.

Gross Profit – Revenue minus costs = plain and simple. Once you have determined your costs for making or providing your product then you should deduct from what is coming in.  And again it should be done weekly, monthly, quarterly, and/or yearly.  Typically when all is said and done you want to shoot for your gross profit to range in at best 50% more once direct costs are deducted.

Expenses – Every business owner needs to know how much is costs to run the business.  What are you spending in terms of administration, operations, and marketing.  How much do you allocate to these expenses and where the flexibility in what you can control is. Compensation is one you know you can control.  You need to know of your expenses in total how to fluctuate in the moment of a crisis. Marketing and advertising are always a variable so you should carefully review them and if possible they should be in line with your sales so that the expense can be justified.

Profit Margin – the key, the key, the key.  Look at your gross profit and reduce it by your expenses.  Take this number and then divide by your total sales and you have your profit margin.  This number is vital as it tells you in a nutshell how profitable you are in business.  AGAIN, review, review, review and assess.  A rule of thumb is to research others in your industry and find out what their profit margins read. You want to be in line with if not better.  Use your research as a benchmark!

In assessing and identifying your numbers it is going to take time. It is not something that is going to come easy initially but I assure you it will open up a world to you once you become familiar with what your business looks like financially.  And as I mentioned you can ALWAYS find help. If numbers are not your thing then find and accountant or even an accounting software package that will bring those numbers to you. 

Let me add…knowing your numbers is crucial for whether you are selling a product or service. If you are providing a service then you have to reach for more intangibles but the points are all still the same.

I wish you luck in your business and I wish you tenacity.  Stick to it and hang in there!  GOOD LUCK!

Leslie Crudup writes for The Business Liaisons, LLC – Business Consulting

www.thebusinessliaisons.com

Dr.Seuss Said it Best!

You know growing up, I was not introduced to anything about owning my own business. I remember my Grandfather had a candy store on the corner of 18^th and Titan and to me he was the wealthiest man I knew!  How I loved being able to go BEHIND the counter to pick through my choices of delectable chocolates and candies.   He was however very frugal and if you didn’t know him, you would think he was mean.  But he was not and to me he was everything.  He owned his own and called the shots on everything and worked his own hours.  Even still I didn’t think about owning my own business.   Both my parents worked in the corporate environment so they never talked about it much.   They talked about going to school, getting and education and getting a job.   A job.   BOY if I knew then what I know now.

JOB – Just over broke…you’ve heard it?  And no truer words.   Why do I have a Master’s Degree and even served as an AVP in the corporate world and here I am still with just a JOB?  My father was a title officer and today I wish I owned a title company.  My mom was a buyer and today I wish I owned a retail venue.  

Today, my only wish for my daughter to is to own what she wants in life.  I want her to be the one that calls the shots and is the master of her fate.

I suppose that is what I had in mind when I named her.   Simone Alexandra (TO BE HEARD and a LEADER OF MEN).   Today I will teach her about being a business owner.  I will teach her about being accountable for her own success.  She will be encouraged to ask questions, count her money and understand how it can work for her. I want her to know that working towards ownership is the key to success in life. 

So I am sure I am NOT ALONE. 

• What are you doing to encourage your children into being their own boss? Do they have a fire that needs to be ignited?
• What is their passion?  What are they continually talking about or taking an interest. You should nurture it.  And though it might be a few different things over the course of some time, do not discourage them to explore.  Have a conversation with them to find out those few ideas that grab their attention best.  Being supportive is the key!!!
• How can a hobby or interest be monetized or turned into a business?  Encourage them to research and identify what is needed to do so.  BOOKS and GOOGLE!!!  Or if they know someone in a field that they can talk to, this is the best opportunity to find a mentor.
• If it is your business they are interested in then of course engage them as an employee.  And even if not, give them a job anyway.  Teach them the administrative side of business. It is the same regardless. They can keep up your customer database, log in receipts or help with the heavy lifting when traveling and setting up shop.
•  Open a bank account for your young person and teach them how to invest. There are many sites that teach financial literacy for kids. You can refer to one of these or just start with the basics. 

IMPORTANT CONCEPTS TO DRIVE HOME while they are in school.

1)       Communication/English
a.       Encourage them to strengthen reading and writing skills. How simplistic is this?  I would go so far to say to push them beyond what the school curriculum requires.  Provide them opportunities to read and write outside of school.  IF you start this at a young age it will become second nature and they will find pleasure in it even more so.

2)       Math/Numbers

a.        Primarily understanding the concept of money and accounting. Need I say more on this one?

3)       Creativity/Innovation

a.       Seek out opportunities for your children to express themselves and to be innovative.  When they see a need they should ask how to fill the need.  It is so important to allow them to ask questions and to be patient with their inquisitiveness.

4)       Money and its concept

a.       Children should be taught to view the dollar as an investment not a commodity to spend.   The key is to encourage them to recognize the power the dollar has, how is can make more money for them and leverage them in so many decisions in life.   And it is not about being a millionaire, it is about being an expert in the concept tis all…rich or poor! 

There is so much we can give our children with introducing them to owning a business.  They are given the joy of exploring self-worth and being a leader with responsibility. They have more of an opportunity to control their own life.  What better option than to be able to call the shots with their career than being a leader!    They should “BE HEARD” and “A LEADER OF MEN”.

 Below are some cool sites to visit.  Start here and then if you haven’t already start with your children…age is no factor, the time is now!

http://hellobeautiful.com/2013/11/15/raising-innovators-10-entrepreneurs-your-child-should-know/

http://www.blackenterprise.com/lifestyle/young-entrepreneurs-of-color-innovators-children/

http://www.blackenterprise.com/tag/100-urban-entrepreneurs/

http://www.teachingkidsbusiness.com/entrepreneurship-program.htm

http://youthbiz.org/

Leslie Crudup writes for The Business Liaisons, LLC – Business Coaching and Consulting

www.thebusinessliaisons.com

What was I Thinking....Should I Just Keep my Day Job?

When I decided to pursue being an entrepreneur I think the first thing I had to ask myself was if I could do it. I had to plan and map out what I was going to do and put before me the challenge in full scope so I could see how I was going to overcome it.  (that was easy to write..that last line). It was and still is tough.

Here is what I can tell you from being just a little more than a year in (and that is a drop in the bucket).  If you think starting a business is hard work it is and more than you might imagine.  You have to put the time in and you have to have a tenacity to stay focused. Stay determined.

Once you determine this is your passion, your dream to become real then you need to work harder then you have ever for it. You can’t treat your business like a hobby or side hustle (at least not as the end result).  If you do then everyone else will, trust me.  It will also feel as if the big picture is so out of reach but that is okay….this takes baby steps, stepping stones.  I find the key is to approach your business as if it were your only sense of livelihood (at least the nights and weekends you will be putting towards it).

I do not claim to have any fail proof advice other than this but I can tell you from my own experience of falling on my face and getting back up, here is what I find is essential.

Ask yourself the hard questions and answer them honestly.  

• Can you work a regular job and run a business at the same time? 
• How do you plan to put in the hours (figure an 8 hour day for now) in addition to your current job?
• Yes sometimes another full 8 hours after your day job..WOW.
• Can you be certain this additional time will not affect your current job?
• Will you be able to shake the tiredness?
• Green tea and energy bars will be your new friends!
• Will you have to forgo overtime on your job?
• Remember when we lived and loved overtime!
• Will you be on call as often if you are salary?
• Is this a SIDE business or a full startup?
• If you are just trying to payoff debt or make more money, you are headed down the wrong path.  It can not be for the money.
• Do you have an idea when you would like to leave your job?
• Have you really thought about life without your day job?
• Remember Healthcare and Vacation- there is a new perspective and expense to consider!
•   Do you know the financial needs to start your business?  Do you have it and if not where will you get it?
•   Financial planning is essential…seek help to answer these questions.

In addition to assessing these questions I implore you to NETWORK with others like yourself.  “Fellow Dream Catchers Unite” is my motto.  There is nothing more encouraging then being able to work through these challenges with others that are going through the same circumstance. At the same time, I recommend to keep your business private from your day job. If you really want your coworkers to know that you own a company, let them find out once you have made that decision that you are going to leave it behind.  You don’t want your lifeline cut short before its time. (even though…sometimes, just sometimes…you need to have that cord cut when you least expect it!)

TIME MANAGEMENT is key.  I am a mother on top of all of this and so for me to have the time to split 3 ways is incredibly challenging.   I work to a calendar and I am constantly scheduling time between all 3 hats.  But I stick to a schedule!  I schedule time just for my daughter (Monie and Mommy time) and I set time apart for my dream business every night.   In fact I will share this with you.   I dedicate a day to one aspect of my business and I focus just on that.   This way I feel as if I am managing what needs to be done in a week.

HELP!  I can’t stress enough that you have to ask for help.   There is just no way to do it otherwise.  And I can tell you it is hard, particularly if you do not have any funds to pay someone.   But you know what my mom says, what are friends for???  I have some great friends that help me whenever I need them and I make a point to do the same for them.

Take a break!  So after talking about how much time you have to put in and then here I am telling you to take a break?  Life is very short and time is limited but if you don’t take a moment to take a breath you will burn yourself out.  And as important as it is to be focused you have to focus on your health. Take a moment to MEDITATE or YOGA as a release for mental health.   Since you are scheduling to keep organized, throw in a class or an early morning hour for reflection.  Your mind will thank you for it I can guarantee you.

My final outlet is to write.  Share your experiences as other are going thru similar issues I can assure you and we all can encourage each other to become that which we long to become!

Have to go….back to work!!!!!!!! I Leave you with Kevin Hart......

The Costs of Networking

When I decided to go into building my own business I knew that connections were going to be important. I need not say all of reasons but to name a few, for partnerships/strategic alliances, for collaborations, for keeping abreast of changes and updates within your industry and those outside that impact how you do business, for monitoring and assessing competition, etc.  It is all very important of course as to not do so can be a detriment to your business.  No one can be successful at a business with your head in sand. You have to look around and assess what is going on.  And while online social media is an excellent avenue to make new connections, there is nothing like face to face conversation to gain trust and build bonds going forward.

But this article is not about why it is important, we know that.  To be frank, networking costs.  Particularly for me, someone working a corporate job while building a business in addition time is so valuable and limited. There has to be time for networking.  Most times I can only do so after normal 9-5 working hours or weekends and this is the primary time I spend trying to work other aspects of my business.  I might have a few hours a night and sometime during the weekend if I am lucky.

It also costs me money.  While some events are free to the public, let’s face it, most have some nominal charge for attendance.  It is certainly understandable of course, someone has to pay for the venue and amenities being made available.  And of course they realize how valuable this networking is so of course we do not hesitate to pay the entry fee.   However the fees add up.  Some events are as little as 5-10 to on average 25-40.00.  When you add up how many there can be scheduled in a given month, it is very easy to spend up to $100.00 on just networking and meeting people.

So here is the thing.  I realize networking is necessary but it is important to strategic and logical with how you are spending you time and money.  IF you are going to put out this valuable amount of resource then you should at least be certain that the events you are going to are going to give the most feedback and resource for your company. 

Below are some tips on how you measure if a networking event is beneficial to your company’s root calling.

1.       Is the networking event in your field of business?  It is good to circulate an event within your industry, this is an opportunity to learn about new topics and updates that can help your business as well as survey your competition.  What are others like you doing?

2.       Is the event a paid for or free event?  And what about that cost.  An event is always worth its weight in costs.  There are free events that are more valuable than some with the large entrance fees.  The key again is to assess who is going to be there and will they be able to help you.  Seek out testimonials.  What did other say about this event the last time it was provided?  For those recurring events too you don’t have to go every time they have one.  Go to one every now and then and work it like you won’t be back!

3.       Where is it located and where or how far will participants be traveling? This is important if you are going to be building alliances and partnerships.  IF you are not prepared then no need in attending an event with out of town guests you may never make connection with or even too far local that to collaborate is not going to be logistically possible.

4.       Is it in your budget and does the size meet the cost?  Let’s face it you have to budget.  I started a monthly budget for networking.  I have to be very selective on which events I attend because I have to stretch my funds accordingly.  Ask yourself seriously, is the event worth the money I am spending.  Even if you are unsure too, contact the organizer and ask her the layout of the event.  How many participants, will there be time to mingle or is there a set program.

After you have made these assessments you should carefully evaluate of the events you are going to attend how will I ensure I get the most value?

What to do before and after the event.

1.       If you are able to secure names of participants beforehand, start your research now. Look into the list of attendees and see what you can find out about their business.  Would they be a strategic partner? Think now about the conversation you wish to have with them. And just like a job interview…know a little about them.  People love to know that you are interested in what they are doing and have taken the time to check them out.

2.       Know your business.  Sounds strange but it is true. You have to know why you are there. What are your business goals and how are you going to refer to them to get substance out of your meeting.

3.       When you secure business cards, make notes on the cards.  What did you talk about –what topic and what in particular struck your interest for further conversation. 

4.       If you are able schedule a time to talk more if time permits.  You want to make connection with as many people as you can so given the time and number of participants you may have be conscious of your time.

5.       FOLLOW UP…just like with anything, once you make a connection you need to follow up with the connection. Ascertain next steps or continue your conversation to how you can work collectively to help one another.

There is much more I can lend but these tips should be a good jumping off point for you and give you room to expand upon.  I encourage you to be strategic in networking. Don’t just go because you heard there is one.  Ask yourself the hard questions.  If you are like me, working a regular job and building dream job you want to make the most of your time and goodness knows your money.

Good luck!   Please share your tips that have worked for you here as well.  EACH ONE TEACH ONE!!!!

Leslie Crudup writes for The Business Liaisons – Business Coaching and Consulting

www.thebusinessliaisons.com