Tips for Business Growth on a Shoestring Budget

You may be from the “you have to have money to make money” school of thought, and in some respects, this is true. Obviously the more you can put into your business, the faster the business growth will occur. But does this mean people with no money can’t start a business and succeed? Certainly not! And history is full of examples of people who have done just that.

If you are a self employed entrepreneur or SOHO, chances are you don’t have the type of business that attracts financial backers or entails teams of employees or contractors working for you. It’s just you and your wallet and the sweat of your own brow. That’s okay. You can work with that and still achieve business growth.

Your main challenge is likely to be sales and marketing. Maybe you hate networking and don’t have much time to spend going out to meet potential clients. Maybe you don’t feel comfortable in those situations, or maybe you have some other life challenges that makes it difficult to get out and attend networking events. That’s okay. There is more than one way to market your business, and for the financially challenged, ways that cost very little.

These ideas won’t suit every business type, but think outside the box and ask yourself how you could adapt the ideas to suit your line of work. For starters, do you have a corporate client or contact? Leave some business cards with them and ask them if they’d mind mentioning your company to their contacts/clients. You can also leave your business cards on the counters of other local businesses, such as the local vet. Be creative!

Is your business the type that you can invite some clients together in one place, perhaps offering them a free seminar or an informational meet and greet occasion? If so, do it and encourage them to bring a friend. If your business is “virtual” – suggest an e-group situation in which they can openly share and discuss issues relevant to their business and again, allow them to invite friends. In this way you introduce your business to potential customers, while servicing existing clients.
Ask your existing clients or contacts for referrals. Encourage their participation by offering them something in exchange, like an incentive scheme. This could be discounts for your products or services, free samples, or gift vouchers. If you don’t like to ask outright, design a “Referral Form” and include it with your invoices, but don’t send it with the first invoice! Prove yourself first. Ask them if they have any leads for you to follow up, and to really make this an offer they can’t refuse, suggest you may be able to put business their way too, using the same methods.
Affiliate yourself with other companies/entrepreneurs who can put business your way in exchange for you offering referrals for them. A kind of you scratch my back and I’ll scratch yours situation. Even appropriate links on websites can be useful, but make sure you are linking to a professional site to safeguard your reputation.
Whether or not you have a referral program, when you do get a new client from a referral, always thank the referrer. Send a thank you note and a small token of your appreciation – it might be a gift voucher or even a lottery ticket. If you haven’t got a referral program in place, whenever you gain a new client from a referral, remember to send a thank you and a small gift to the “referrer” – even a lottery ticket! They won’t mind sending you referrals!
Consider joint ventures. For example, if you are a hair dresser, find a beauty salon or other related business who would be willing to market you to their customers in exchange for you marketing their business to yours. You can offer each others clients special deals and prices that only your and their clientele can get. Find ways to add value to each other’s customers and you will both benefit.

Use the press. Align yourself with a local charity dear to your heart and the next time you do something that benefits them, invite the local journalists or send a press release yourself to your local papers.

Use social media. It may not be the promised answer to everyone’s marketing prayers but at the very least it gets your company name out there and known!

There are as many strategies for promoting business growth as there are types of business. Think outside the box, keep your eyes open for opportunities, experiment and be creative!

5 Rules to Boost Business Growth

Owning your own small business should be financially rewarding as well as provide the personal satisfaction derived from wearing the captain’s hat and steering your own ship. And in an ideal world, boosting business growth should be as easy as choosing which photocopier to purchase. The reality, however, is usually the opposite for many small business owners.

If you are a small business owner searching for ways to boost your business growth, here are five simple, yet effective, rules that will help put you on the starting line, facing in the right direction:

1. Be “in business”
Unsuccessful small businesses, especially SOHO’s and network marketers, often don’t think of themselves as business owners. Some don’t even have the business basics like a dedicated phone line, fax machine, business name, domain name, letterhead, business cards, brochures, merchant status to accept credit cards, contact management software, etc. How can you expect people to do business with you if you aren’t really in business? You must commit 100%. You are either in business or you are not. There is no grey area. Well, there is… that’s where you find people who are dabbling at being in business and failing. There is a huge difference between a hobby and a legitimate business. Once you make that commitment you must have a business plan. These are not inflexible and will change as your business needs change.

2. Know your products and services
Have you ever tried to buy something from someone who couldn’t answer your questions about their product or service? Hardly confidence inspiring, is it? Your customers expect you to be an expert about whatever it is you are selling. If you don’t know everything there is to know about it, who would? How can you compare what you offer to your competitors, to stay ahead and remain competitive? Customers want to know facts and figures and they want all the features and benefits explained to them in terms they can understand. That’s where you come in. If you don’t deliver, they will take their business somewhere else where they have more confidence, and this applies whether you are selling widgets or services.

3. Fear of Marketing
You won’t experience business growth if you sit back waiting for customers to materialize and come to you. You have to not only let your potential customers know you exist and how to contact you, you also have to tell them how they can benefit and how your product/service will solve their problems. It doesn’t matter how brilliant your product or service is, it just won’t sell itself.

4. Fear of Selling
Many small business owners have stories of used car salespeople swimming around in their heads and they equate sales with being deceitful or pushy. Well, unfortunately, there are people in the world like that, but you don’t have to be one. In fact, you will taste success more quickly and easily if you are NOT like that.

You need to communicate the features and benefits of your product or service without exaggeration or dishonesty. You must develop strong inner beliefs that support serving others, sharing your products/services, secure in the knowledge that you are doing them a favor, being in business and bringing them great products and services. Coming from a place of trying to push people into buying will only push people away. People hate to be manipulated and they can spot a phony a mile away. Wanting to sincerely serve others will attract people. Think “serve”, not “sell”.

5. You Don’t Fully Believe in Yourself
When you doubt yourself and your ability to be successful, you set in motion circumstances that will hold you back and stop you from achieving business growth. You will hold back from investing in your business and spending money on areas vital to your business success. And if you don’t truly believe in your products or services, this will reflect in your sales and marketing (or rather, lack of) and rather than attract customers, you will make them doubtful and go elsewhere. Surely, you have been to a business where even the atmosphere screams the owner isn’t really all that interested? You must be interested and believe you will be successful… because it influences how others see you.

Challenge your beliefs. What is really behind your fears and doubts? Are these truly your stories or have you allowed other people’s doubts to infiltrate your better judgment? Yes some businesses are facing challenging times right now, but there are also businesses who are thriving, and yet others who are coasting along comfortably.

Ever heard of Dream, Believe, Achieve? When you believe the dream can be real, nothing will stop you.

Sharing My Secret…

I’ve written a lot about a lot of products and services over the years and today I want to share a tip about a service I’ve been using for many years — a company that allows you to share products you have created. I say they are the best kept secret in my business and they are responsible for all my custom products!

I don’t have an affiliate deal with them. I just am sitting at my desk today thinking, “Where would my business be without them?” and I am feeeeeeeeeeling grateful.

What I love about this company, Vervante (http://www.vervante.com/) is how easy they are to work with and how quickly they make my products ready for distribution, send out my products and handle any problems customers may run into.

Prior to using Vervante I was spending my valuable time duplicating CD’s and DVD’s or having to pay virtual assistants to do this task. Then someone had to go to the post office and ship things out. Having Vervante not only gives a professional look and consistent look to all my products it gives me full service support, helps me establish my branding, and takes a load off my mind as every order is automatically fulfilled by them as they come into my shopping cart!

Here’s another reason I recommend Vervante (http://www.vervante.com/ ) … they also print all my products on demand! I don’t have to pre-pay or sit on huge inventory. I teach all my clients and coaching students and business owners that the only way to publish these days is using on-demand publishing and distribution for their books, CDs, DVDs, training and coaching programs, and information products. Vervante allows you to share your products with the world by having high quality products at super competitive prices.

In fact the company takes great pride not only in producing high quality products it also has helped hundreds of my clients see their dream of being published come true.

You can contact them here: customerservice@vervante.com or sales@vervante.com and although there is no affiliate relationship please tell them I referred you so they will know how much I value their services.

If you have any questions about Vervante, just post them in the comments below. Or, if you have suggestions about other services, please share them.

Be Upstanding to be Outstanding

It would be reassuring if we could always assume every person we dealt with in business was an upstanding citizen who could be trusted to be open, fair and honest. How successful might we all become if we strived to be the best we could be in our own businesses and everyone else was striving likewise in their own endeavors. There would be no more scams, rip-offs, cheating or deceit.

You may have heard of the expression “be the change you want to see occur in the world”. Yes, it can be a challenge in a world where a percentage of people do not understand the concepts of being considerate, honest or helpful, being in it only for themselves. One of the problems is that some people simply do not see themselves as others see them. They are not aware of their own shortcomings because in their minds, they don’t have any shortcomings.

How do you know if you fall into this category? No offence, but none of us can progress if we are not aware of our shortcomings, because without this knowledge, there is nothing to work with. So let’s quiz Joe Bloggs and if you find yourself identifying with the responses, you may have a little work to do on your self-development… : (more…)

The Ten Habits of Successful Entrepreneurs

The saying goes, “Be the change you want to see occur in the world around you.” I agree! In fact, if everyone knew and embraced some of the basic coaching skills utilized by life and business coaches, our world would be a much better place. Sadly, however, these abilities aren’t being taught in our schools. You have to learn them for yourself. When I first learned these skills over a decade ago, my life changed drastically. I learned how to enjoy my life more, be less stressed and have much more fulfilling relationships. I also gained more self-confidence and added value to everyone I met. For entrepreneurs, these skills can help create the lasting impressions and profitable relationships that help build successful businesses and, ultimately, successful people.

Don’t be judgmental – Remember to look for and recognize the good both in yourself and in others. We all have our “good” and our “off” days. We’re all unique in our appearance, our thoughts, our opinions and our likes and dislikes. These differences are not threatening or “bad”, just “different.” Embrace the differences and be happy for the variety. Likewise, forget the concepts of “right” and “wrong.” People are not good or bad or right or wrong; they just are. Being judgmental wastes time and cuts you off from opportunities and meaningful relationships. Remember, you aren’t perfect either!

Respect – Don’t make the mistake of thinking your rights are the only ones that count. Everyone deserves the same basic rights, and our fundamental right is to be respected. Respect is acknowledging another human being’s dignity and treating them how you wish to be treated yourself. We all came on to this earth equal and we’re all checking out as equals. What happens in between is just a series of different life experiences.

Be a good listener – How often do you really listen to other people? How often do you drift off when others or speaking, or plan what you’re going to say next instead of listening to them? It takes practice to be a good listener, but in being one, you put yourself in a position to better comprehend the real message being given to you.

Be interested, not interesting – People love to talk about themselves and will delight in the opportunity to do so, so ensure you ask questions and take an interest in what they are telling you. Don’t worry about them hogging the limelight – you can have your turn during the conversation

Respond from your heart – We tend to respond to others using our head, not our heart. We formulate stories about us, we defend our ego or we judge other people or what they have said. If we respond from our heart, we can respond with understanding and a sense of connection. Find something good to say about people and to people, the response you see will amaze you.

Be truthful – There is good reason for the saying “honesty is the best policy.” Nothing good ever comes from lies, but there is a difference between telling an outright lie and being diplomatic. If you’ve made a mistake, then welcome to the human race! You don’t have to lie to cover it up, but you also don’t have to blunt or “brutally” honest. There are gentle and tactful ways of delivering truths. Think carefully before you speak.

Be helpful – When you need a helping hand, don’t you just love the person who comes up and offers it to you? Wouldn’t you love the opportunity to repay them? If you can be that person that people look to with gratitude, you never know how or when they will repay you.

Maintain your integrity and your dignity – People with their integrity intact are easier to deal with in both business and personal situations. They know where they stand and you know where you stand with them. You will feel better about yourself when you set your standards and stand by them, and you will attract those who respect your standards and who have standards of their own.

Go the Extra Mile – I mean this in a couple of ways. First, whether you are being asked to do something or you are offering to do something, remember that if something is worth doing in the first place, then it is worth doing well. And while you are at it, what little touches can you offer to improve it? Whether your offering a business service or merely a friendly ear, going the extra mile helps you stand out as a person, which is the first step to creating relationships.

Say What You Mean and Mean What You Say. This is one of the oldest business principles around. Neither beat around the bush nor make promises you can’t keep. If you say you are going to do something, do it. Be known as a reliable person. Honor your promises and agreements wherever possible – this is the basis of integrity. When you are perceived as a person with integrity, your new opportunities as an entrepreneur and a person will constantly surprise you.

Winning New Clients

Today getting new clients in any business is getting more and more difficult.  Many business owners are frustrated by the lack of leads and ineffective sales conversion systems.  In fact many businesses are spending a ton of money trying to acquire new clients but are failing.

I teach my clients that education based relationship marketing based on the idea of adding value to your prospects is how to attract a ton of leads and easily convert the right leads into paying clients.  Without relationships built on trust people are not going to move into action to buy your products or services.  It’s that simple.

I am a huge fan of client testimonials because people live vicariously through the success of others and this enhances my credibility vs. me telling potential clients how great I am… they see and hear it from other business owners just like them.

The other goal is to get in front of prospects regularly so that they get to know who you are because people buy from people.

Let’s break this into steps:

The first step is getting in front of prospects:

You must be seen as an authority in your niche area you gradually start to build trust with your prospect. Begin by producing “solution based” educational material either by video, CD, DVD or in writing that you get to your audience. PR and articles and radio interviews also work for credibility.

Step Two: Convert the warm lead

Now you have the warm leads but you still have to convert them to a converted sale. You do this by continuing to create value for your leads and pointing out their problem areas and then matching their problems with your solutions.

Problem!
Many businesses don’t really understand their prospects.  They are spending money trying to attract clients without being crystal clear who their clients are.  If you don’t know exactly who you want to attract then you  don’t understand how your prospect thinks and you don’t fully know their problems or how you can help them.

Get your message out:

The best way to get your message to your prospects is by giving them materials of value: teleclasses, seminars, webinars, written training materials, cds, dvds, etc.  Direct mail with a valuable newsletter or emails with content are great as well.

What actions you need to take right now in your business!

 

 

I am an expert at showing clients how to do attract and convert on a shoe string budget.  Here are the actions you need to take right now:

1.  Offer prospects valuable information in exchange for their email or snail mail so you can keep in contact with them – NOT to sell them, to give them value, value, value.

2.  Do NOT sell to prospects.  Give them gifts and show them you are an expert, you care and build a relationship with them.

OK, there you have it… start taking action and let me know how I can help you.