Posts Tagged ‘Business’

Confessions of a Non-Marketer

Wednesday, May 26th, 2010

One area of my business that still  isn’t easy for me is sales.  Although, my business has managed to survive through the past few years.  Taking full ownership of my less than illustrious sales record, I haven’t relied completely on my business to  sustain me, but I would dearly love it to. 

 The irony is, 80% of my clients are small business owners themselves and I help them over the hurdles of starting their businesses, which of course, includes sales and marketing.  They are assigned to me, so I don’t have to sell my services to them. The blind leading the blind you might comment. 

On the contrary, knowing my weakness, I invest heavily (time as much money) in professional development activities to compensate. The point is, I know enough about what to do, my challenge is actually applying it to my own business.  

 Frankly, it’s much easier to coach others and help strategize marketing plans to fit their businesses.  Providing a sounding board, and asking the right questions, really helps to test assumptions and clarify directions for promoting a business. Plus, I get to share gems from the Sales and Marketing Experts I’ve learned from. Gradually the message is getting engrained in my psyche and I’m starting to put into practice what I’ve preached.

 One of the most effective approaches I’ve come across lately is Charlene Brisson’s 3 Step Marketing (for non-marketers).  Charlene’s marketing expertise spans executive level marketing positions for major media and telecommunications corporations, operating her own small businesses and teaching sales and marketing. She has been through the trenches and has helped hundreds of businesses succeed. 

 In a recent interview with Ann Pustil, of ‘In A Nutshell Coaching’ Charlene talked about MSS: Marketing Stress Syndrome It was a really entertaining conversation and they had me giggling about how much we struggle with this stuff.  MSS occurs from

  • overwhelming confusion – wondering where to start, what to do, frustration, spinning your wheels.
  • Paralyzing fear of spending in the wrong place
  • Marketing Insanity: repeating the same things and expecting different results
  • Breaking into a Cold Sweat with the idea of cold calling
  • Wallet Fatigue: spending and not getting results
  • Procrastination and head-spinning indecision

 Charlene’s message is to keep it simple, with three steps to overcome the madness.

1. Know your ideal customer. Pinpoint all of the factors: geographic, demographic, psychographic, so precisely that you could give your ideal customer a name and write a story about who they are and what they do.  This gives you a foundation on which to develop your strategies. Use surveys and research to support your assumptions.

2. Craft a message that speaks to your ideal customer.  What you now know from step one helps you to know what to say. Let them know why they should do business with you; and what they can expect from your services.  State your Value Proposition or Unique Selling Position – What you do that is bigger, better, faster, than everyone else. State your clients’ situation and guide them through the resolution process in real time.

In addition to other brilliant examples on the call, they shared Anne’s marketing message for her business. “In a Nutshell Coaching: Gets to the heart of the matter quickly and resolves it quickly.’

3. Select effective marketing tactics to reach your ideal customer.  Strategically and optimally target your tactics to get the response you want. Tactics won’t work if they are not aligned with methods used by your ideal clients.  Always ask yourself if your ideal client uses the media you are planning for.

Granted there are so many traditional and new media marketing tactics: to choose from it can still be daunting. Charlene has solutions for you in her new book “148 Ways to Advertise & Promote your Business”. 

Have fun working easier with your marketing!

Effectively Investing Money to Motivate People

Tuesday, May 25th, 2010

As the economy gains momentum, what is the most effective area for companies to increase spending on employees?

Companies often default to spending money on financial incentives, partially because they believe money is what counts to employees. In the McKinsey Quarterly article “Motivating People, Getting Beyond Money”  (http://bit.ly/93Dj87) their survey indicates that companies should seriously consider non-financial incentives. The three keys areas the survey recommends to focus on are:

  • praise and commendation from their manager
  • attention from leaders, such as one-on-one coaching
  • opportunities to lead projects or task forces

In the survey all three of these areas were considered to be more effective in motivating people than any of the financial compensation options.  Plus the non-financial options do not increase the long term cost of employee benefits allowing companies to remain more flexible should the economy sputter it’s way to a recovery.

What gets in the way of companies implementing the non-financial options to engage and inspire employees?  My observation is that there are three

reasons why companies don’t invest more heavily in the non-financial options:

  • It is difficult to tangibly measure the immediate impact and long term value of having higher quality connections with employees.
  • Management has so many other immediate short term tasks on their to do list that undertaking a longer term strategic program of increasing contact with their people gets pushed to the side.
  • No one ever really taught us how to communicate and as managers we don’t know how or don’t feel comfortable giving recognition or having one-on-one conversations with our direct reports.
Impacts of Coaching

Impacts of Coaching

An earlier post (http://bit.ly/baLMhE ) indicated that  the average return on coaching is 6 times the investment.  This is usually a short term return and does not take into account the long term learning benefit that the person being coached gets to repeat year after year.  Nor does it take into account the long term learning benefits that a manager may generate with their direct reports.

I believe learning how to communicate and coaching the people that report to you will give your company the best return in the long run.  Unfortunately it  is not the easiest or fastest answer.  It requires a commitment on the part of management to learn a new skill, practice and take the time to connect with their people.

With an investment in non-financial initiatives now companies could exit the down turn stronger than they entered it.

Jacque

Walking our Talk with Working Easy

Wednesday, April 7th, 2010
Watching the Coast Guard work while we work.

Watching the Coast Guard work while we work.

Beyond publishing this blog we really are committed to working easy 4 life balance.

If you’ve been following our posts you’ve probably noticed that we like having fun too.  Sometimes this means being flexible and doing things outside the box of running a business.  When we formed our strategic alliance we decided to have  regular meetings, and we’ve been really consistent at sticking to our commitment. It’s such a wonderful way to hold ourselves accountable and stimulate creative synergy.  It’s way more fun than having an internal meeting with me, myself and I.

We usually have our meetings on the phone, which requires each of us to be in our offices – or not….  sometimes one of us is on a cell phone, travelling in another city, or country.  As long as one of us is on the computer to record pertintent notes it works beautifully.  The other day I had another meeting scheduled not long after our call, but it was a 1.5 hr commute away.  I pulled out my blue tooth headset jumped in the car and we continued our meeting.  It was an extraordinarily productive brainstorming session and we mapped out the next steps for our strategic alliance for the coming months.

What was really interesting to me, is my commute time is usually very unproductive, other than getting me where I need to go.  I often get brainwaves for building the business, but seldom record the ideas.  The better ones will run in the background of my consciousness, adding to the internal to do list and then to the heap of things not done.  Ever notice how we can conjure up far more activity in our imagination than we can ever accomplish in real time?

Anyway, what was exceptional about this drive, was Jacque was on the other end of the phone, to capture our creative ideas.  We now have topics for speaking engagements, the next few issues of our newsletters and Catalyst-LIVE radio shows .  And it was all incredibly easy and fun!

I highly recommend working collaboratively, or having a business building buddy.  It really does make work easier.

Winning the Game of Work and Life

Thursday, March 11th, 2010

In a blog this morning  I read the famous Michael Gerber quote, “don’t work in your business, work on your business.”  What if  your business was a game?   How would that change how you related to the whole concept of working in your business?   How about your life, could you play it like a game?

  • What would your game be called?
  • What would your game board or playing field be like?
  • Who would be playing the game with you?
  • What would the rules be?
  • How would you define winning?

Exciting.  I love playing games.

This weekend I did just that, played the game of defining my Personal Life Game.  I went to California to play The Game Of ….  – Playing the Game You are Build 4  — See web site http://bit.ly/9yMFUY

The process was fun and creative and totally felt like playing.   I came out of the weekend with a  game plan for all of the above questions and more.  So how do I use the information that I have uncovered?

I am using it to clearly define how I want to show up in this world, who do I want to be and how do I want to experience the world.  It gives more clarity on the Intention that I had set for myself last year  – see article on setting intentions -http://bit.ly/c0jBzw .

I have already used the insights that I have gained in making decisions.  I am in the process of looking for accommodations to rent in Belize for this fall when I take my business fully virtual for 3 months.  It became evident that the accommodations that I was looking at renting would have suited me perfectly from a logistical point of view. In the past this would have signaled me to say “yes”.   However my intuition signaled to me that the tone of the living environment would have been the opposite of the fun, vibrant life that I want to live.  Just by playing my game, I would have pushed my land lady’s fear buttons, causing an emotional reaction leading to conflict.

This was not the kind of experience that I defined for winning the game of my Personal Life. I listened to my intuition and said” no” and I am continuing on my search.

In your business when are you making decisions about what you need to do because it seems to make good logical sense?  Yet  it  creates an experience that you would prefer not to be having.   This is typically what happens when we work in our business rather than working on it.   We are creating experiences for ourselves that do not leave us winning.

This fall I will bring The Game Of…  to Vancouver.   Check the web site above for other games being played in the United States.

May you win and master your own game.

Jacque

Coaching Generated Big Returns

Tuesday, March 2nd, 2010

The following is a recent quote from Fortune Magazine:

“Of the monetary payoff from the coaching they got, these managers described an average return of more than $100,000, or about six times what the coaching had cost their companies.” Fortune, 2/19/01,

– “Executive Coaching — With Returns a CFO Could Love”

In my own work I have also found this to be true.  Some companies that I have worked with have generated astronomical returns on investment of 2,500%.  I believe there are some key factors that determine if a company will be able to generate an ROI of at least 600%.

  • The most senior person in the company or group has participated in coaching and is now a role model for others who take coaching.
  • Several other people in management also participate in coaching.   The more people on the leadership team that have received coaching the more successful the program.
  • Team development initiatives are taken to foster open communication and collaboration across the company or group.
  • Managers adopt a coach approach and consistently meet with staff in both group meetings and one on one.
  • Finally you need to stay the course and keep using and applying what you have learned.  As soon as you go back to your old ways, so will your results.

While doing the work with these companies, staff came to regard their organization as the best place that they ever worked.

Companies or groups within a company that have maintained these results for the longest period of time have consistently practiced doing all of the above.  It is a long term game.

Jacque