How Bad Do You Want It?

As January winds down, most of us have long forgotten those New Year’s resolutions we set three weeks ago.  Why is that?  Are we that fickle?  Is our commitment to ourselves and others so unreliable?  Do we just lack the discipline to change our habits enough to create the conditions we desire?  Well, maybe all of the above.  But just as important, I think we often set resolutions that sound nice to have, but maybe not nice enough to inspire our dedication.  Without that, we struggle to do the work, spend the money, change our behaviors, or otherwise act in a way that moves us toward our goals. 

Most business owners have a desire for a more successful business.  Individual definitions of success vary, but usually it’s some combination of more sales, higher profits, a terrific team of people, greater business value, or individual income, lifestyle and wealth that business ownership calls to mind.  But small business owners typically get so caught up in the day-to-day demands of the business, they lose track of the big picture goal for their businesses and for themselves.  It is easy to convince yourself that you don’t have the energy to work on your goals when you are up to your elbows in the detail work of your business.

It’s a question of how bad we really want it.  Our goals, that is.  Are they just “window dressing” goals that make us sound good to those around us?  Or are they really goals that we will strive to make happen, sacrifice to gain, and focus on regardless of all the other distractions in our business and our life?

As a business coach, I know that one level of commitment to goals is the investment in a coach.  That’s an indicator that the owner feels so strongly about his/her striving for success that they are willing to put their money and their time on the line to work toward their goals, and to demand a level of accountability toward reaching them.  But even after working with a coach for some time, the novelty of that relationship can wear off.  In spite of progress, the owner can become weary of the effort.  It is not unusual for the coach to have a stronger desire for the success of the business than the owner!  When that happens, it’s time to go back and re-check the goals, re-set the commitment, and re-state the question, “how bad do you want it?”

Ask yourself, what success means to you.  What does it look like?  How much income does it give you?  What will your lifestyle be like when you reach it?  What kind of wealth will it create for you?  Does that picture bring to mind a strong enough desire to do what it takes to reach it?  Are you willing to make steady, relentless progress?  Will you reach out for help and support from others with the experience and skills to accelerate your efforts?

If so, you will work yourself into an elite group of self-made, successful people.  How bad do you want it?

Networking for Success

Recently, I had the enjoyable opportunity to speak to the Fond du Lac County Imagination Network of Wisconsin entrepreneurs and inventors group.  The topic was “Networking Doesn’t Have to Make You Cringe!”  The comments and feedback from the attendees illustrated to me once again how intimidating networking can be to those who haven’t had some training, or at least exposure, to the basics of effective networking.

The things that cause us to avoid networking, or to do it poorly (i.e. with few results) usually result from our own “head trash”.  These are the thoughts and fears we harbor that hold us back from doing those uncomfortable things that could actually bring us greater results.  Some of the head trash thoughts that are typical include the following:

• Networking events are just for socializing.  I get no business benefit from them.
• At networking events, it’s hard to have great conversations because of all the cliques that I’m not a part of.
• I’m not the pushy type, so I feel awkward about thrusting myself on other networkers.
• I don’t know how to tell people about my business in a way that piques their interest without dominating the conversation.
• I’m an introvert, so it’s hard for me to put myself “out there”.

Business owners often have an expectation that they should network, but they may not know why, or more importantly, how to go about it effectively.  So the first thing we have to do, is realize that networking has an important business function, and that it is a vital part of your business’s marketing plan.  Networking helps to generate leads, or find referral sources who will feed leads to you.  It is an effective marketing tactic if you work it (think of it as net-WORK-ing).  So the challenge most of us face is not knowing how to go about it in a way that gets us the results we expect from a good marketing tactic.

A good way to understand networking better is to go back to basics: 

• Have a plan of attack – Consider what you want to get out of a networking event.  How many business cards of new contacts do you want to collect?  How many quality conversations will you have?  How long will you spend “working” the event?  Remember, networking events can easily deteriorate into a series of comfortable social conversations, which typically don’t do much for your business intentions.
• Be prepared – It’s amazing how many people don’t bring business cards to a networking event.  Bring business cards and a pen (to jot down notes about contacts or your intended follow-up).  Have a 30-second introduction!  It’s important to be able to briefly state what your business is about in a way that is memorable, or that creates interest for the listener to learn more.
• Check your attitude – A positive, confident attitude does wonders for networking effectiveness.  People want to be associated with people who look and sound pleasant and successful.  Even if you’ve had a bad day, or facing a tough problem in your business, put it behind you for a couple of hours and act as if you are doing great.
• Use the perfect “pickup” line – In your dating days, you may have tried or heard a variety of corny pickup lines, but did you know that the best pickup line going is simply, “Hello, my name is _______”?  The best way to introduce yourself to someone at a networking event is to simply, a) SMILE, b) stick out your handshake hand, and c) say, “Hi, my name is _______”.  The beauty of this pickup line is that if you can’t remember it, you may find it written on your name tag!
• Ask questions.  Don’t sell – Ask about the other person(s).  Ask about their business, their history, their family, their interests.  Seek for ways that you might be able to help them.  Make it all about them, not about you.  But how will this help me attract interest in my business, you might ask.  Well what happens is that by being genuinely interested in them, you will create the perception that you like them, and they in turn will begin to know, like and trust you.  Eventually, they will ask about you, and you’ll have a chance to tell them about your business in a way that appeals to their business interests because of what you’ve learned.
• Focus – Be engaged with the person you’re speaking with.  Focus on them, and try not to be distracted by the other activity and people around you.  Good networking conversations only last 5-10 minutes, so you’ll have plenty of time to connect with others in the room.
• Ask for referrals – Every person you speak to may not be a good lead for your business, but they will be a potential source of a good referral.  Ask them who they know who might be interested in your products and services.
• Followup – Don’t waste the fruits of your networking efforts.  Followup by scheduling another get-together, or add them to your contact or newsletter lists.

Networking can occur almost anywhere and is an effective marketing tactic for all businesses, if done right.  It doesn’t cost much, other than your time, it builds your personal brand, and expands your network of contacts.  I love the following quote from Graham Southwell, National Director of BNI New Zealand:  “Networking is all about farming… not hunting.  Some people may take pride in being a hunter, but in today's competitive business environment emphasis needs to be on creating strong connections with other business people. Networking needs to come from the heart – not the head.... The truth is, using your head to network means you are too focused on the outcome and not cultivating relationship.  Cultivation is the key concept, as great networkers are farmers, not hunters.”

Pick a Number

As 2014 comes to an end, have you taken a few minutes to look over your sales and profit numbers for the year?  How did they turn out?  Better than last year?  Were your numbers as good as you had planned when 2014 started?  Wait… you didn’t have a plan for 2014?  Did you have a goal… a number you wanted to reach?  You say you just tried to do things better as the year went along?  How did that work out for you?

Okay, I’m sorry, but I’m trying to lay a little guilt trip on you with these questions.  I know that a large majority of business owners who read this post did not have a plan or even a goal for their business sales and profit levels in 2014.  Or any prior year that they were in business.  Were you one of them?

Every piece of business success literature I’ve read emphasizes the importance of having a goal and a plan to reach it.  And several studies and surveys over the years have confirmed that a higher level of success comes to those companies who have a plan.  So I conclude that if you have no goal or plan, you either a) don’t care if you succeed in business, b) feel that your success is more a matter of luck than design, c) fail to prioritize planning enough to make a small amount of time for it, or d) don’t know how.

If reasons a) or b) apply to you, it may take more discussion than I can allot in this post to help you see the importance of planning.  But with reasons c) and d), maybe the following four step approach will help you both to know how to get started and to realize that your plan for 2015 doesn’t have to take up a lot of time or be as hard as it is sometimes portrayed.

1. Examine your financial results for 2014 as your starting point.  What sales level did you achieve?  How much money did you pay yourself this year?  What was your bottom line net income number?
2. What goal would you like to set for 2015?  How much sales can you reasonably achieve next year?  How much money would you like to pay yourself during the year?
3. What will it take to achieve the goals you’ve now set?  What will you do differently to hit your higher sales numbers?  What needs to change in regard to your expenses that will help you achieve your profit and take-home-pay goals?  Remember to consider that you also may need to account for debt payments.  How much do you plan to reduce your liabilities in 2015?
4. Write it down!  Your goal and plan are much more helpful to you if you put them in writing and put them in a place where you will see them and refer to them often.  Keep it simple by putting it on one sheet of paper to start with.

If an annual plan is not something you are in the habit of doing, start with these four simple steps this year.  You’ll find that it will help you think just a little differently about your business, and thinking differently leads to performing differently during the year.  Planning is not just a game of picking a number year after year.  Although most of us want growth in our businesses, the growth must come because of planned actions we will take that give us the best chance of achieving that growth.

If planning still seems too foreign or confusing to you, reach out for help.  There are many coaches and consultants who would be happy to help you sort it out and put your business on a firmer path toward success.

Do It All, or Specialize?

In general, most small businesses don’t turn away work.  We have a can-do, whatever it takes, and “the customer is always right” kind of attitude.  Sure, there are parts of our business that we feel best at, but doing that alone doesn’t always seem to pay the bills, so we expand our offering and thus, our revenues.

Regardless of whether that is a good approach, the result of it is that we tend to market our businesses according to ALL the services we’re able to perform or products we provide.  We are your “one-stop shop”, your source of all things ________ (fill in your industry description).  Our marketing messages work to build the perception that we are unique because of our broad offering.

In my coaching practice, our overall marketing message has been similar.  Our clients, small business owners, wear a lot of hats.  So we need to wear all those hats, too, in order to relate to the challenges and opportunities they face.  But recently, I’ve found that the opposite approach can lead to even better results.

Prior to writing my book, Final Act Of Ownership, (www.amazon.com/author/jerrybaltus) I hesitated, because I felt that promoting a specific portion of our work (Exit Strategies) would limit our attraction for business owners who were not yet concerned about exit strategies.  What I found, however, was that by offering great content and education about the exit strategy portion of our business, we were actually drawing in clients to our entire business offering.  The laser focus of a part of our marketing effort on this specific business issue turns out to elevate the perception of our ability to deliver great service with our entire portfolio of knowledge.

What does this mean for your business?  I encourage you to think about a portion of your business that you are most interested in, most passionate about, and best at delivering.  Give some thought to how you could laser focus your marketing tactics and messages around this one thing.  If you can position yourself as the foremost expert on your “One Thing”, it is likely that the perception of your customers and prospects will be elevated for all the things your business does.  In doing so, you will more vividly set yourself apart from your competitors, and do a better job of competing on value instead of price.