Small Business Guru

What Fuels You?

I’m preparing a workshop on ‘Personal Effectiveness’ for business owners... and amidst all the ‘obvious’ things like organisation, time management and personal ‘systems’, it got me thinking.... what keeps us going as business owners... where do we get our fuel?

For some, the juice comes from ongoing wins – whether it’s getting another client, the rush of a sale or successfully managing a staffing issue.  For others, it’s the growth and development of the business (and themselves in that process).  Fuelling yourself in this way is great... but what happens if you have a ‘dry’ period of few wins, slowing sales or staff grumblings?

Other people top up their tank knowing they’re ‘in-control’, taking comfort from the knowledge that they are ‘the boss’ – they’re not working to anyone else’s objectives, time-frames or budgets.  That’s all well and good... until of course they realise they are actually now slave to their customers, their staff and that ever-present need for revenue.

The most reliable fuel then has to be independent of business conditions.  For me I fill my tank with good nutrition (most of the time), physical exercise, spiritual practices and mental stimulation and engagement.  If you want help with nutrition or physical exercise, check out one of the many local practitioners who can give you guidance and frameworks that work for your life.

Mentally, consciously choose what you listen to, read and talk about.  It is really easy to get into a mental rut if you’re surrounding yourself with commercial news and talkback radio.    Instead, seek information that supports your goals and interests.  The internet is an amazing source of quality information and blogs in particular are a great way to stay in touch with current information, trends and opinions.  If you prefer your information and engagement more personal, consciously select peers, friends and colleagues who will engage you in robust conversation... and make the time to engage.

Mentally engaging yourself – really thinking about, around and into situations, opportunities or problems – not only fills your tank with premium fuel, it helps you evolve.

Marketing - the foundation for your business

There are really only 4 things you need to 'handle' in business;

1. Marketing
2. Sales
3. Everything else (that is, the systems that support 1 & 2)
4. You

Why?  Because if you are not selling something, you are not making money.... and you can't sell anything until you have marketed it.  Therefore anything you do that does not support your marketing or sales efforts are a waste of time.... your administrative, financial and HR systems should all support your marketing and sales functions.

So, from that position.... I then read this blog post from one of my favourite bloggers - Seth Godin - Which Comes First, the product or the marketing?

Marketing really is the number 1 priority in your business - it's the platform on which everything else is based.

Cat

Strong Foundations

Tuesday 27th January this year signalls the start of the Chinese New Year.  2009 is the year of the Earth Ox and provides a focus on foundations, getting your house in order and themes of patience, relationships and systems.

In the current climate of panic, fear and resultant consumer caution, giving some attention to the foundations of your business is a sound idea.  When the economy bounces back (which it will do, it’s just a matter of when), the businesses that will best positioned to take advantage will be the ones who have rock-solid foundations.... not those built on sand. 

So what foundations do you need to look at?

From a marketing perspective, what is your core marketing message?  What does your brand stand for?  Is your marketing working for you or are you wasting time and money on random, hit-and-miss campaigns?

A solid marketing foundation – an integrated marketing plan based on a consistent message, strong relationships and networks.

In the sales area, do you have a consistent sales process with a high success rate?  Can you track your sales leads and follow-up on customers who are still in ‘decision-mode’?

A solid sales foundation – a strong sales process that works supported by a relationship management system.

From an operations perspective, do you regularly experience ‘drama-free’ days, or are you often “putting out fires”?

A solid operations foundation – systems and processes that support the marketing and sales functions while efficiently managing the administrative, financial and compliance requirements of the business (they don’t have to be documented, but they do need to work).

And lastly but most importantly, YOU (the driver of the business) – are you clear on your direction, your focus and targets for the year.... or are you scrambling to keep up?

A solid owner foundation – clear business and personal goals, how you’re going to achieve them, personal development opportunities and personal wellbeing.

Remember the whole year is about strengthening your foundations... it doesn’t all have to happen overnight.  Just schedule some time each month where you can ‘structurally’ review the business and strengthen as you go.

Thoughts on Leadership

Witnessing the inauguration of President Obama has reminded me about the power of strong leadership.

Strong leadership engages people.  It provides brightness of the future at the same time as grounded realism regarding the current reality.  Strong leadership inspires people to be better and to feel better about themselves... it's not shallow inspiration along the lines of "wow, what an amazing person he/she is", rather it inspires feelings of fullness, greatness and 'big-ness' in the witness's own minds.  It leaves us aspiring to be more than we currently are, individually and collectively.

Strong leadership is enhanced by powerful oratorship.... but it is grounded in integrity, clarity and consistency of message.

It is an exciting day for the planet today... not because a black man is now President of the US... but because today the world formally 'gave power' to a man who has been a powerful leader for quite a while. 

People get the leaders they deserve.... and Obama's inauguration today reflects a dramatic shift in the paradigms, thoughts and beliefs of not only the people of the US, but the people of the free world.  Metaphysically this is a remarkable shift....

Be a strong leader in your own context.  Be a person of integrity, clarity and consistency of message.  Engage with the people in your life, inspire them through your being... not through anything in particular that you 'do'.  Leadership is required everywhere in life.... not just at the White House, in Parliament House or in our Boardrooms, but in our homes, with our children, with our friends, in our societies.

Wow.... what a difference a leader makes!

C

Tough times? Really?

I am so tired of hearing about how tough things are.  People are citing the current economic climate as the reason for not buying, the reason why business is struggling, the reason why they’re ‘cutting back’.

The fact is, for most people, things are no more ‘tough’ than they were two months ago (I know some people have unfortunately lost their jobs but that’s not the majority).  Sure, people’s asset-base has taken a hit (yes, your superannuation fund does not look as good as it did month ago), but your day-to-day discretionary income has not changed one iota.  Grocery prices having been going up for the last 18 months.... petrol prices have been going up for the last 12 months.... so we have already been dealing with those increased cash flow burdens. 

Since the supposed economic crisis hit, petrol prices have actually come down... and so have interest rates!!  So in reality, most people should have more free cash to spend... not less!!

The fact of the matter is mainstream media would have us believe that we are moments away from recession.  This does nothing other than fuel fear... which influences buyer behaviour... which then creates a self-fulfilling prophecy of slowed economic growth.  Readers older than 50 would recall similar ‘slow-downs’... and would recall coming out of them unharmed.  The problem is we’ve had such a long period of growth that most people in business haven’t seen ‘conditions’ like these before – it’s easy to make hay while the sun shines.....

So what does it mean for you, a small-medium business owner?

Normal operations!  Stop thinking ‘doom and gloom’ – be proactive amidst the negativity.

Get smart with your marketing and reconnect with your customers.... demonstrate you are as important (and valuable) to them now as you were last month.  Expand your communications, your programs, your products, your services – resist the temptation to shrink and ‘go small’.

Unless you are selling to retirees or people servicing that market, your customers have the same discretionary income (if not more) they did six months ago.  Don’t fall into the trap of thinking ‘times are tough’.  They’re not.  They’re just different. 

Netweaving... not networking

Well, it’s official!  With Melbourne Cup Day now behind us, it really is a downhill slide into the festive season of social engagements and parties – business related and otherwise.

Rather than decline these social invitations citing ‘busy-ness’ as your excuse, consider using these opportunities to expand, enrich and ‘weave’ your networks.

I don’t mean handing out as many business cards as you can, or trying to generate as many new customers or clients you can in the shortest space of time.  What I really mean is what I call ‘netweaving’ – truly connecting with people and connecting them with others.  Netweaving is more about helping others... whereas traditional networking has been about ‘what’s in it for me’ (WIIFM).... which, by the way, is why so many people don’t like traditional networking.

The festive season is a great time to reconnect with your networks (business and personal) and practice the art of netweaving.  Look for ways that you can put people in touch with others where they can create mutually beneficial relationships.  For example, if someone mentions they are experiencing a particular problem, or looking for a particular service provider – pass on those resources that you would personally use if you had the same need.  I recently was talking to a client who mentioned they were having challenges with their electrician.  I gave her the name of mine as someone she could call if hers couldn’t do the job.  I also often promote other peoples services or events out to members of my network purely because I think they would benefit... not because I get any benefit from doing so.

One of the side-effects of this style of netweaving is you will increase your visibility in your networks.  This means, when someone does need your product or service, you’re more likely to me remembered.  It’s not about netweaving to get this result.... but genuine netweaving produces this result.

So, party on.... and enjoy the social aspect of the next few weeks.

Being Fully Self Expressed

In my personal mission statement, my closing statement is 'to simply be the expression of my true purpose'.  (My true purpose by the way is to brilliantly create spaces and artifacts to empower people in their lives).

One of my favourite ways of being the expression of my true purpose is through my work - talking with people about business, helping them, networking them and connecting them to other people...

But I can only do that if I am 'fully self expressed' - that is, if I speak my whole truth, or really demonstrate my enthusiasm and excitement for business.  If I am 'tepid' on the topic of business, then I am not being fully self expressed.

I was just reading one of my absolute favourite e-zines - Robert Middleton's 'More Clients' - and his topic is on 'Playing it Safe' (read his blog here).  He says "...breakthroughs come from expressing your natural excitement, enthusiasm, and passion about your business. They do not come from playing it safe." Robert has some great questions to discover where you're playing it safe and what it's costing you - I encourage you to answer them for yourself.

Playing it safe includes editing what you say in case it might offend, or becuase someone might disagree with you, it includes 'toning down' your enthusiasm because you worry what people might think, and it includes being 'small', the belief that you're faking it... and you don't want to be 'found out'.

I have just finished reviewing a client's workbook for her upcoming launch workshop... it oozes her enthusiasm, her excitement, her expertise and her unbridled passion for what she does.  As I read it through 'client eyes' I got excited about what her workshop attendess are going to think of her and her business - it is such a standout from her competitors because she is fully self expressed.  It's exciting... and inspiring.

So, start being fully self-expressed... and discover how it feels... and the difference it can make to your business.

Risky Business

I'm borrowing the title of this blog from Naomi Simson as in reading her thoughts on the risks of business ownership, I was reminded of a recent conversation with a client along the same lines.

Naomi says "Being an entrepreneur is about taking risks. Nothing is guaranteed; you can wish, hope or even pray that things will turn out…. But you have to do the work, be disciplined and just stick at it." (read the rest of her blog on the subject here).

My client's husband was questioning the risk factor in her proposed new strategy... my comments in response went along the lines of...

This is the world of business – big and small – you’re always looking at (and gambling on to some extent) new opportunities, clients, products or services.  Did you know that the post it note was a mistake – glue that didn’t work. Business decisions always have a component of trial and error - sometimes you win and sometimes you don't... but you have to give it a go to find out what works.

Darrell Wade of Intrepid has a similar position.  When asked 'How do you figure out what will work strategically?', his reply was "We don’t. The penny drops. We do it once, do it again and think that’s the way to go." (read the rest of his interview here).

There is no secret bullet answer to knowing what do to in business - you try things that you think will work and evaluate the results.  You adjust and give it another shot.  And you keep adjusting and shooting until you score goals.

My key point is this - if you want to be safe - don't be an entrepreneur.  Running your own show is always going to involve a degree of risk and you have to be willing to take risks to grow.  If you're not... then find a safe job with a large company (or better still, government) where your job is relatively secure.

Cat

Faking it

I heard a short grab of a longer interview with Peter Alexander (of the PJs empire) today about how, when he started out at his kitchen table, he and his mother would pretend to be different people, and place people on 'hold' when they called and 'transferred' the call to other imaginary departments - for example, he could be John from customer service or Matt from production, while his mother was Janelle from reception or Mary from accounts.  He said he did it to give the impression of size and 'established business' that didn't exist in reality at that stage... and to give the impression that 'they knew what they were doing' - which he said they didn't.

Given his success, I'd say he had some idea of what he was doing.

The story made me laugh... and it got me to thinking about similar stories from other successful business owners - well-known and quiet achievers.  For example Lindsay Fox, when he purchased his second truck, put on both trucks 'you are passing another Fox' to give an impression of size greater than reality.  And a start-up client of mine, who runs her business from home, has a 1800 number with her business name and a city-based GPO box which redirects mail to her home address - again, to give the impression that she is bigger than the 1-woman show she currently is.

The point of the story is that most business owners fake it... and there's no harm in it.  However at some stage we have to stop thinking to ourselves that we're faking it, and 'own' that we know what we're doing.  Do we know 'everything' there is to know about building our business - how can you?  But if we continue to hold doubts, or submlimal beliefs that 'I'm faking it', then we rip ourselves off from enjoying the success, growth and progress we've made.

So remember to stop and smell the roses in your business - that is, take the time to acknowledge where you are today.  So many business owners are so focussed on the next goals of growth, expansion or recognition, that they forget to acknowledge just how far they've come.  How do I know?  The Guru is no different... and frequently reminds herself that she does know what she's doing... even though there's lot more to achieve.

Cat

The Game of Small Business

I have long claimed that Small Business is the best personal development game there is. 

If you want to actualise your goals, grow as a person, challenge yourself and confront your limitations, then the game of running your own business beats any and all personal development book, seminar or workshop... hands down!!

But in order to reap the rewards, you have to really play the game - whether it's sunny, raining or snowing, muddy boots and all.  You'll get scraped knees and perhaps even serious injuries along the way... but just like any sport - if you don't get in and play 110%, you'll never know what you're truly made of.

If you're not willing to play hard, then consider whether you should really be in business.  Not because you can't make it - but because there are easier ways to put food on the table than running your own show... and if you're not in it to really see what you're made of, then you're working too hard.

And if you are willing to play hard... then stay tuned... there'll be insights, tips and lessons from the trenches here.

Cat

www.alito.com.au

www.lifewealthcreations.com.au