3 Quick Steps to Create Your Business Stimulus Package!

You should be VERY glad you are in a position as a business...nimble and able to adjust to what clients need at this time. Now more than ever you can’t afford to lose sight of the driving force of your sales opportunities. If you plan to survive and potentially thrive you have to stay relevant to your customers and make it easy for them to purchase your products or services.

So here we are…halfway through 2008. Are you wondering if you are going to make your revenue goals? Trying to read the mind of your prospects? Or maybe you are like many that cross my path, still doing the same thing you have done in the past…just working harder and expecting different results.

3 quick steps to create your business stimulus package:

1. Evaluate your offering. Are you still offering the same old packaging of 2006-07? Are your customers balking at the dollar amount or length of time projects take? If you are in a position to adjust your offering, I have some suggestions to keep your product or service in demand.
2. Generate better quality leads. Wait a minute…before you respond “I know, I know!” Let me give some insights to do this more easily.
3. Keep yourself motivated! Quit working with people who cost you time and money. Selling can create an emotional rollercoaster. You can’t afford the ups and downs at anytime…especially in this market.

Make it easy for prospects to buy.
What are your customers buying from you? How can you make it easy for them to say yes without dropping your price? Think about how you might repackage your products or services to make it easy to buy, while increasing the value and profitability. What does this look like?

• If you are a service provider, it might look like an “economy package” that utilizes some templates to deliver your services.
• Learn to reduce your time per customer by offering a valuable service at a level that gains a quick economic return (for your business and your prospect/clients/customers).
• If you sell products, you might create a bundle of products and services to create the same result above. Or consider adding a higher margin item to your bundle increasing the value for the buyer and you.

Buyers are shopping for value. Right now prospects are shopping longer to make sure they get the most bang for their buck. You probably are too. Consider testing your packaging with an “introductory” offer. You don’t have to be married to the package forever. Just test the results. If it works, keep doing it. If not, adjust your packaging. Ask your customers for feedback and find out what your market wants from you. You will be glad you did.

Want more quality leads?
Rethink your ideal customer. The market has changed. Who can you serve doing what you do well? This may mean letting go of some prospects so you can focus on those who have a budget, a need, and can see a return on investment for what you offer. To get more leads in general, you need to visible in one way or another to this group. Who are they and where do they show up, what do they read, listen to, etc.? What are ways you can be in front of them? Network, advertise, partner with other service providers, etc.

To help you focus, ask yourself:

• Who do I serve that might be in a growth industry? i.e. health, baby boomer transitions, etc.
• Are there customers in my database who could benefit from buying more of me or my services?
• Have the psychographics of my ideal client changed? Values, motivators, character qualities? If so, what are they? How can I connect with my prospects on this level?

Review your partnerships. As you rethink your ideal customer, consider who also serves this market. What kind of joint opportunities might you create? Have fun! For example, my ideal clients need PR but do most of it themselves. I am partnering with Nancy Juetten to offer her famous Publici-Tea™ in our area. This gives me another great resource to offer my prospects that complements my service offering. This gives my clients more of what they need to generate business growth. Idea for you…partner with your local non-profits or Chamber and add needed services and value for your community.

Be your own cheerleader!
Keep yourself motivated. Selling your business products or services has its ups and downs but now…even more so. Between the media, your network, and your customers, you hear enough bad news to really bring your spirits down. So what do you do? You put on a happy face, remind yourself this will pass…and fake it till you make it, right? The problem is that is only skin deep. Your contacts sense your lack of authenticity and it subconsciously seeps out your pores.

A bad day costs you. Almost more than the time you lose, consider the energy it takes to pull yourself back up from the dumps. This can be far too costly. Here are a couple of suggestions to keep you UP!

• Keep track of past successes.
• Save the handwritten compliments you receive and review them often.
• Hang out with people who are moving forward.
• Create your own support group. Not to commiserate but for accountability and encouragement.

While this unusual market place brings both unique challenges and opportunities I challenge you to utilize this market as launch pad for growth and change. You can not only survive, but thrive by paying attention, staying relevant, and continuing to make it easy for your customers to see the value of your offerings. Offer them simple and valuable ways to business with you. I guarantee you will create growth for your business by better serving your market.

In the meantime, network strategically!

The Magic of Linked In

When I first discovered Linked In a few years ago I made a determination that it was a valuable resource for those looking for jobs or searching for employees. It was a perfect way to introduce people I knew looking for contacts within larger companies but didn't seem to have a fit for marketing smaller businesses. Well....as with most social networks LinkedIn is being morphing by its users. We are making their infrastructure work to meet their needs.

Here is an example. I received an unusual request to connect last week from Jennifer Nguyen, CEO of Citinannies who found me on Linked In, researched my site and emailed me directly. This request was unique in that she wasn't trying to sell me something (like some who've cold called me through my Linked In profile) but framed her request in a tactful intelligent way. Of course I responded immediately and had a highly productive conversation. I thought you might like to see how she framed the invitation to connect.

Dear Kathie –
I know we both have a lot going on with our professional and private lives....being is busy is good I suppose in our fast paced world. My name is Jennifer and I wanted to formally introduce myself to you. I would love hear more about your business. Would you like to take 10-15 minutes on this Thursday or Friday to collaborate or brainstorm ideas how we can help each other?

Let me know what time/day it is convenient for you or just feel free to me on my direct line anytime on Thursday or Friday. If you are not available those days, let me know what day is best for you next week.

I am looking forward to talking with you! Thank you for being my linked-in connection.

Jennifer Nguyen
Citinannies

I learned Citinannies offers more than a nanny directory and is looking for strategic partners for potential expansion to new areas. Plus learned she has another business she is looking to launch and may need some strategic direction that I might be able to help her with.

Overall this was a great experience and one I hope to duplicate from my end. What about you? Would connecting with strategic partners through LinkedIn or your other social networks be of value to you? Think about ways you might connect. If you've already had a great experience. Please share!

Networking Makes the World Small

I had the unexpected pleasure this week of encountering several women who are part of my social network in a far away place, Dallas, Texas.

Imagine the feeling of seeing someone you’ve been watching online, read their articles and regularly read their newsletter…but have never met in person.

I found myself this past week, walking through the eWomen Network tradeshow when I caught a glimpse of a familiar profile. You should know I came to this event knowing only one person, my mother. (But that is another story.) Surprised to find someone I might know, I touched the woman’s arm to get a better look and discovered Nancy Juetten of Main Street Media Savvy from Seattle in her signature blue dress.

Again, I had never met her in person, only seen her online. Based on the content of her website, articles on Biznik and e-newsletter, I refer clients to her fairly regularly so you can imagine my surprise to meeting her in person.

Later that weekend, I found Nancy in a huddle with some women from Seattle and met Marcia Brixey, author of The Money Therapist and Lori Richardson of Score More Sales. Again, both only online acquaintances, we had a chance throughout the weekend to connect and learn more about each others goals and specialty.

After this experience, I am challenged to pick up the phone and call those I follow online. Better yet, if they are within proximity, I will travel to where they are. I am confident the alliances we began this weekend through the extended personal connection will pay off for all.

The small world phenomenon is rampant in the Portland Metro area leading me to state my belief that in this town there are only three degrees of separation rather than six but this is my first out of state scenario.

What about you? Have you experienced the small world outcome of great networking? Tell us more!

The Busy People Networking Philosophy

I was commenting on a conversation stream on Biznik about increasing networking effectiveness when I discovered I had documented the "Busy People" philosophy of networking.

Here is our take on networking along with framework to focus your activities and get better results. Let us know what you think! We'd love to hear from you.

Networking takes time. Time is money. Those using networking to build new business can't afford to misuse time. It costs in dollars and lost opportunities when done haphazardly. Hence, I promote planning.

Your networking is truly part of your marketing mix. With that in mind, network strategically to gain exposure, build your credibility, and do your own market research in addition to lead generation.

Great networking conversations are built around discovery. Not selling! If you get around alot the conversations do become second nature. If you don't, it pays to plan.
After doing your homework (know who you are, what you do, how you can serve others) you can show up, ask good questions, and learn far more about another person in a very natural conversation than you would by talking about yourself.

Here are a couple of things I teach and practice to increase my payoff and leverage time when networking.

I choose events by the following criteria:

1. Target market rich (potential business development)


2. Target strategic partner rich (potential opportunties, cross marketing, and resources)


3. Fun (we are whole people, not just our work)


4. Contribution (attending events to give back to the community, people group, or individuals makes me feel good)


5. Professional Development (I always want to be increasing my knowlege base)

Here is another quick list. Develop key questions to discern the following:

• Is this a prospect? (not so I can sell them on the spot but I can know how best to follow up)


• Is this a potential partner? (I am always looking for people who do exceptional work)


• Is this a connection to opportunity, resources, or information? (We can learn alot from from other people's experiences)


• Is this a great person to know. (Sometimes the person you are speaking with is just "cool". I like to know cool people.)

I have to tell you, when I hear the phrase "elevator speech" I cringe. I think it is overated in most business networking environments. You can have a killer elevator speech and bomb on the follow up conversation. Good questions overcome many a botched opening introduction. I know. It still happens to me.

Do you have a networking philosophy? If so, please share!