All posts tagged goal setting

Overcoming Your Doubts

Overcoming Your Doubts

It is natural to have doubts when taking on a major endeavor, such as starting and operating your own business. However, if you just ignore your doubts, you could be sabotaging your own efforts by letting them impede your progress. Here are some ways to face your fears head on and get rid of any doubts you have about your potential for success.

  • Establish an advisory group. Gather a group of like-minded people to share ideas and cheer each other on. An advisory group can be made up of fellow business owners, industry experts, or anyone that may be able to contribute to the group’s common interests. There is usually someone who takes charge of the group (sets a meeting schedule, creates an agenda, initiates tasks and long-term projects, etc.), but the environment should be informal enough that each member feels comfortable enough to participate in every way. Being a part of such a group allows you to gain a fresh perspective and can even boost your self-confidence.
  • Get a mentor. Mentors provide more personalized guidance, so finding one can prove to be quite valuable. Choose someone who can commit to regular meetings, has relevant experience, is successful in the field, and commands your respect. Take full advantage of the mentor relationship by outlining your desired results, preparing well for meetings, and initiating projects that will help you in your business.
  • Step away and clear your head. Many times we get so overwhelmed with a challenging problem that it can seem impossible to solve. Instead of banging your head against the wall, take a break from it and allow yourself some time to clear your head. Maybe you need to leave your workspace for a quick walk outside taking in the fresh air, or perhaps if you sleep on it you’ll be more equipped to deal with it in the morning. Giving your body and mind time away from a problem is sometimes the best way to solve it.
  • Do more research. Perhaps you’re wrestling with a difficult decision or aren’t sure where to go next in order to complete a project. You may need to research the topic in more depth. Consider looking to alternate resources not normally used. For example, most of us do the bulk of our research on the internet. We look at business articles, blogs, company websites, consumer reviews, etc. In addition to this, include in your research face-to-face interviews and professional development seminars. It’s even a good idea to browse the business section of the local bookstore. Sometimes having a hard copy of useful materials to flip through can give you some new ideas.
  • Calculate your risks and create a plan. Much of our doubt normally comes from our fear of failure. Carefully weigh your decision by calculating your risks. Come up with the worst case scenario and figure out how you would need to handle it. Do you have the knowledge and resources to deal with a major setback? Risk management and thorough planning can prevent you from making poor decisions and remove doubt that stands in your way.

Relying on your strengths and looking to others for help can take you a long way in your quest to overcome doubt. What strategies do you have for overcoming your doubts? Please share your ideas below!

What You Need to Grow a Business

What You Need to Grow a Business

Congratulations! You’ve done something significant: you’ve launched a business and are maintaining a certain degree of success. Since the initial startup period has long since passed, it may be time to start thinking about how to take your business to the next level. You might think that doing so may take just as much “blood, sweat, and tears” as starting up your business from scratch, but there are simple things you can do right away to grow your business and continue achieving your goals.

  • Prepare financially and be ready to grow. Expanding your business will most likely require some sort of financial investment, such as a new marketing plan or travel costs for attending conventions and networking events. It is just as important now that you plan for these added costs as it was when you started the business. Are you prepared to see a slow return on your investment? Will investing this money take away from other key elements of your business? Once you’ve prepared yourself financially, make sure you are in the right mindset. Business growth will likely put more demands on your time. How will that impact your existing customers and your family? Only you can answer those questions, so make sure you are okay with the answers before you take the leap into business growth.
  • Think big and outside the box. One of the most successful entrepreneurs of our time, Donald Trump, wrote that “as long as you are going to be thinking anyway, think big.” Why put limits on what you can accomplish? You may not achieve every single dream, but selling yourself short before you even begin only keeps you where you are. Look for ways to grow your business that have large-scale impact. Be creative and try coming up with something original. You can always dial it back later.
  • Increase marketing. Growth cannot happen without some level of increased marketing. Assess your current marketing plan by figuring out what specifically is working and what is not. Eliminate the weak points and expand on the strong ones. If there is an untapped customer base or a marketing method you haven’t tried yet, give it a shot. You won’t be able to grow without adding to your bottom line, and that can’t be done without attracting more customers. Research what options will give you the greatest return on your investment and proceed full steam ahead.
  • Diversify and expand your team. Your team should consist of people whose strengths complement yours and each other’s. When looking to add to your team or staff, seek out different types of people. For example, you’ll want people who are strong face-to-face sellers, others who have a head for numbers and projections, and still others who are creative and contribute originality. A team that can pool their strengths and work together toward a common goal has the potential to be unstoppable.
  • Listen to customers. Ask them for their feedback about a variety of topics, including what new products they’d like to see, how service can be improved, what made them come to you as opposed to a competitor, etc. Customer loyalty has a huge impact on the success of your business, so it makes sense to pick their brains about how you can improve and grow. They will also appreciate your interest in their opinions.

Your business growth potential is limited only by your imagination. Use your available resources, your own expertise, and feedback from your customers to begin a plan for expansion.

What else do you think should be added to our list? Please share your ideas in the comments section below!

How to Compete Effectively

How to Compete Effectively

Handling your competition as a small business owner can sometimes seem like an uphill battle. It is important to educate yourself in regards to who your competition is, what they are offering, and what their strengths and weaknesses are. You cannot control how your competitors run their businesses, but you can control how you run yours, and having a full understanding of your competitive landscape can help. The following is a list of strategies to use in your quest to compete effectively in your industry.

  • Help clients see you as a friend. If clients see you as a friend instead of just a business, they are more likely to be loyal to you. In order to do this, put their needs ahead of your own. If a customer is looking for something that you are unable to offer, be honest about it and even go so far as to recommend where they might find it. Clients will appreciate your honesty and that you didn’t waste their time trying to talk them into something they probably don’t need. Because you have demonstrated that you are sincere in your desire to satisfy their needs, they will likely come to trust your professional opinion and will return to your business again and again.
  • Use social media for word of mouth. The potential for exposure via social media makes it an extremely valuable tool of which you should be taking advantage. Creating a social media presence will cost little to no money, but it does require an investment of time. It isn’t necessary to tackle everything at once, however. Try your hand at social networking sites like Facebook or Pinterest, start a blog, comment on others’ blogs, create a YouTube channel, or reinvent your website. Decide which avenue will most effectively spread the word about your business and focus on that. Social media is this generation’s word of mouth, so be sure you are taking full advantage of its benefits.
  • Create partnerships. Creating partnerships with other business owners means less competition for you. For example, a local cupcake shop is having a hard time competing with the new frozen yogurt bar that has just opened up down the street. Health conscious shoppers are now shunning the high-calorie cupcakes for a refreshing treat that is easier on the waistline. The owner of the cupcake shop forges a partnership with the yogurt bar to bring in some fresh baked cupcakes in healthier varieties (gluten-free, low-fat, etc.) to create a yogurt sundae section. The cupcake shop gets a percentage of the sales, the yogurt shop is reaching a wider customer base, and they both get to cross-promote each other’s goods. Seek out other businesses who have similar interests and you can cut down on your competition.
  • Implement incentives for referrals. Referrals are often the lifeblood of small business. Consider offering your customers unique incentives to motivate them to give you more referrals. This can be anything from a tiered reward system to a one-time discount or VIP customer membership. Show your appreciation for their referrals in a way that will make them want to bring you more. Also, by creating incentives, you avoid the often uncomfortable method of flat-out asking your customers for referrals. You can introduce the program and incorporate the “asking part” into your presentation.

Staying ahead of the competition is a necessary part of small business ownership. How do you compete effectively? Please share your ideas below!

DSEF & CBBB: Is Your Business Plan Fractured? Focus and Execution are Key

DSEF & CBBB: Is Your Business Plan Fractured? Focus and Execution are Key

By Lance Trebesch
In a recent podcast, Daniel Ek, the CEO of Spotify, was asked if he feels that he is a visionary or a genius. He demurred, replying, “Absolutely not. For me it’s all about execution.”

I completely agree with this 27-year-old millionaire. Execution is everything. It doesn’t matter how many great ideas an individual, team, or company comes up with. Until you implement, you haven’t made any progress. Execution is what builds lasting success. Splitting your business’s energy among too many outcomes can hinder your ability to execute good ideas and achieve your goals.

Planning: Fragmentation versus Integration

Many organizations go through an elaborate planning process. But if your method is overly time-consuming, it takes away from more important work. More problematic, relying on the idea generation phase of planning frequently results in fragmented outcomes. When you try to achieve too many outcomes, your business starts to suffer.

It’s tough to execute your desire when your attention is split in a million directions.

Your Top Three Goals

One of the keys to execution is focus. You may want to achieve a hundred different things, but most of us find it impossible to focus on more than four all-important goals. In fact, four may be too many. I would suggest erring on the side of success: Choose your top three and pursue excellence uncompromisingly in these areas. A relentless focus makes a positive outcome all the more likely.

At, we’ve found success by choosing three goals on which to focus:

·     Customer satisfaction

·     Revenue

·     Products (improving our existing base or adding new ones)

It may not seem like a lot on paper, but accomplishing these three goals is our focus, and we devote one hundred percent of our efforts to their integration. It’s become our formula for success, and the hallmark of our company. Every year we add or improve hundreds of products. Every day we work to improve customer satisfaction. And every moment, we seek to increase our revenue. For us, a focus on executing these three goals is the key to prosperity.

What are your 3 goals?


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How To Build a Long Term Business

How To Build a Long Term Business

When you start a business, you hope that it will grow, and ultimately succeed. If you don’t start out with the right mindset and the commitment to work your business for the long haul, however, you may be setting yourself up for failure.

Here are some suggestions to help you build your business for long term success.

  • Create personal relationships with your clients. Building relationships in business does not differ that much from those that exist in your personal life. Personal relationships grow out of having something in common, along with a sense of mutual trust, respect, and support. All of these elements are also required in your professional relationships. Ask your clients about their interests and find some common ground, such as a devotion to the same baseball team or a love for the performing arts. Once your clients can relate to you, a relationship can grow. With that connection, you become more than the owner of a business they frequent, and they become more than just another customer. The result: a loyal client who is likely to recommend you to others.
  • Ask for feedback and use it to improve. You should make it a habit to ask for feedback from your customers, employees, mentors, etc. This can be done in a variety of ways, especially when seeking out feedback from customers. Depending on the type of business, you can create an online or paper survey, speak to them face-to-face, or incorporate it into a courtesy call. After collecting their opinions, reflect upon your findings and use the information to improve. For example, when following up with a customer regarding a recent order, you ask her what she thought about how you handled the sale. The customer’s response is mostly positive, but she does state that she found the online ordering portion of your website difficult to navigate. It might be wise to ask other customers if they had the same issues. If so, take the time to update the site and make the ordering process faster and more convenient. Asking for feedback is not always easy, but it can be an effective way to build your business for the long term.
  • Build value that exceeds what customers pay for. You may or may not have much flexibility in terms of product pricing. What you can control, however, is the value of a product. Show customers how it will solve a problem, how versatile it can be, and what services they will get by patronizing your business. Customers are usually willing to pay a little more for something when the experience of it all exceeds anything they would get elsewhere. What do you have to offer that your competitors don’t? The answer to that question will help you build value into your products and services, as well as setting up your business to prosper for a long time.
  • Do what you are passionate about. You’ll never last in a business doing something you don’t care about. Owning a business takes creative vision, time, and a multitude of other skills to make it flourish. What will drive you to continue if you don’t enjoy what you do? Look deep into yourself when deciding what kind of business to build. Perhaps you’ve always had a flair for cooking and are passionate about eating cleanly and naturally. If that is something that you’ve made a part of your daily life, it would no doubt make for a potentially successful business idea. Our passions motivate us to succeed, so choose something that you love doing.

What else would you include in your recipe for a successful long term business? Please share your ideas below!

Making a Road Map to Your Goals

Making a Road Map to Your Goals

Goal setting is a crucial part of realizing your personal and professional dreams. However, it isn’t enough to create these goals mentally; you must write them down. The act of writing down your goals gets the process off to a head start and gives your brain its own set of instructions. The more specific your goal is and the more details you provide, the more successful you will be at achieving it.

Here are some suggestions for mapping out your path to achieving your goals.

  • Give yourself time each week to clarify your goals. It isn’t enough to just write down your goals and bury the list away. Frequent review and adjustment of your goals should be considered a requirement of achieving the goals themselves. Spend an average of 10-12 minutes a day revisiting your goal list and making necessary adjustments to it. For example, say your list of goals includes revamping your website, seeking out more referrals, and creating a new marketing plan. By revisiting this list each week, you can assess your progress. You may realize that you have spent most of your time on your marketing plan, but have completely neglected the other goals. This time each week can also be spent adding specifics to each goal, like due dates and relevant numbers.
  • Spend enough time on weekly goals. If you set goals that you want to be met by the end of the week, you should be spending at least 50% of your time doing what it takes to achieve them by Friday. So if you put in an 8-hour workday, then an average of four hours per day should be set aside for weekly goals. Keep this in mind when setting your goals for the week. Will you be able to invest that much time? What do you have going on this week that might prevent you from accomplishing your goals? Set your goals high, but be realistic about what is required of you to meet a weekly objective. Always set yourself up for success.
  • Build relationships with people who can help you achieve. Win/win relationships are those that benefit each person. For example, as the owner of a hair salon, you may form a relationship with the boutique owner down the street. During prom season, you could cross-promote services and exchange referrals. A relationship like this provides benefits for both parties and helps to achieve sales and marketing goals. Make win/win relationship building a priority when you create your road map.
  • Embrace the good and drop the bad. We all make New Year’s resolutions, but many of us fail to stick with them throughout the year because we don’t commit to making those resolutions a regular part of our lives. When setting your long-term goals, focus on forming 3 good habits and breaking 3 bad habits a year. You may decide that you want your customer service follow-up to become habitual, rather than sporadic and on an as-needed basis. You may have sabotaged your past efforts because you tend to procrastinate, so commit to dropping that bad habit as well. When making your goal list, consider what you will do to make a desired behavior habitual and an undesired one a thing of the past.

Developing a road map to your goals provides you with a clear path and increases your chance of success. How do you map out your goals? Please share your ideas in the comments below!

Achieve What You Want

Achieve What You Want

“Don’t limit yourself. Many people limit themselves to what they think they can do. You can go as far as your mind lets you. What you believe, remember, you can achieve.” This quote by the founder of Mary Kay Inc. and one of the most successful female entrepreneurs of all time, Mary Kay Ash, speaks volumes about the importance of mindset in business.

Everyone has weaknesses, but if you believe in your ability to overcome them, you will be able to achieve what you want and realize the potential of your business. Here are some suggestions for helping you succeed.

  • Visualize accomplishment. The power of the mind is often underestimated. While you’re lying in bed at night waiting to fall asleep, picture yourself carrying out a task and achieving the desired result. If it’s an important sales call or networking, have both sides of the ideal conversation in your mind. Regardless of the job at hand, visualizing yourself doing it successfully prepares your mind for success and builds the confidence you need to achieve it.  Doing this repeatedly maximizes its effect, so continue doing it when you are in the waiting room at the doctor’s office, en route to work, or any other situation where you have a little downtime. 
  • Practice! Actors don’t perform a play on stage for an audience on the first day they receive their roles and their scripts. They rehearse for weeks or months and work out any kinks in the production that prevent it from running as smoothly as possible. The same principle should apply to your business. Go beyond visualizing and rehearse that important sales call or networking. The more prepared you are, the more polished you will be, and the more competent you will appear to the other party. No one wants to do business with a person who doesn’t seem sure of themselves. Put in the time to practice your “role” to give yourself the best chance of success.
  • Implement a plan to overcome interruptions and offer ready solutions. Now that you have visualized success and have rehearsed your part, develop a plan of action for when things don’t go as planned because they rarely do. How will you respond to a customer’s doubt in your product? What will you say if someone has heard something negative about your company? If you have a plan in place to field objections and rejection, you will be less likely to have to think on your feet and risk saying something detrimental or giving the wrong impression. It’s impossible to be prepared for every possible scenario, but use your own expertise and outside resources to anticipate common objections and negative responses.
  • Assess results and make adjustments. Once you have completed the task, reflect upon how it went. Did you achieve the results you were hoping for? If the answer is yes, then pinpoint what you did right and how that helped you achieve. If the answer is no, identify where it went wrong and develop a solution to the problem. Use your results, both positive and negative, to make adjustments where necessary and continually increase your chance of success in achieving what you want.

By putting yourself in the right mindset and using your own expertise as well as outside resources, you are giving yourself the best possible chance of success. What else do you think should be added to this list? Please add your ideas to the comments section below!

Four Ways to Improve Your Chance of Success

Four Ways to Improve Your Chance of Success

When you start a business, you no doubt take measures well in advance to maximize your chance of success.  You write up a business plan, choose a location, and procure financing.  Even with lots of research and preparation, it can be difficult to predict how well your business will perform.

Here are some tips on improving your chance of success.

  1. Master your networking skills.  Put simply, networking consists of building mutually beneficial working relationships.  Effective networking will work wonders for your business in a variety of ways.  You will be able to reach a wider customer base, exchange ideas with fellow small business owners, get advice from successful entrepreneurs, and even create professional partnerships.  Start by contacting your local chamber of commerce, attending industry conventions, establishing your internet presence, and by getting involved in the community (volunteering, hosting events).  You should consider networking to be a mandatory responsibility to the growth of your business.
  2. Tune out negativity.  Sometimes it is difficult to avoid hearing negative talk from others.  Perhaps those around you doubt your abilities, maybe they’re trying to prepare you for failure, or it could be that they simply don’t understand your desire to be your own boss.  The good news is that none of this matters.  As long as you believe in yourself, you can succeed.  Learn to tune out the negativity that others put out by creating positive self-talk, developing a mantra, and reminding yourself of your own strengths and accomplishments.  Seek out others who share your goals and views and who will add to your self-confidence, not diminish it. 
  3. Keep taking risks.  You’ve already taken the biggest risk of all by starting your business.  You will be faced with a great number of decisions that carry some level of risk throughout your career as a business owner.  Don’t be afraid to take risks just because there is a chance of failure or a setback.  For example, a veteran small business owner decides he wants to broaden his exposure and market himself as an expert in his field.  To begin, he has booked some local speaking engagements at vocational schools and community colleges.  It’s risky for him to take time away from his business to try public speaking, something completely new.  However, the potential for him to market himself as a brand can have positive impact on the business.  The risk is definitely worth it.  As long as you make educated decisions about your business and have backup plans in place in case of unforeseen events, risk-taking can lead to great success.
  4. Hire wisely.  No one is good at everything.  You may be brilliant at interacting with others and face-to-face selling, but horrible with organization and accounting-type tasks.  This is where it becomes extremely important to hire people who can make up for those weaknesses.  If you don’t have a head for numbers, look to bring on board someone who is.  You wouldn’t attempt to build a tree house if you didn’t know a hammer from a hatchet, so don’t do it with your business.  Identify your weaknesses, and hire people who are good at those things so your business prospers.

Owning a business does require some trial and error, but if you are prepared with the important things and follow the above suggestions, your chances of success are greatly improved.

What else do you think should be added to this list?  Please leave your ideas in the comments section below!

3 Effective Ways to Market Your Business

3 Effective Ways to Market Your Business

Imagine if you were planning a major celebration, such as a wedding.  You’ve spent days and weeks planning the perfect theme, venue, food, music, etc.  As amazing as this party could be, it simply wouldn’t happen if you didn’t send out invitations.  Without invitations, no one beyond your close circle of family and friends would even know about the event.  This same rule applies to your business.  Marketing your business is mandatory for bringing in customers, but you should also think of it as an ongoing process instead of something you do once in awhile when sales are starting to lag.  Here are three effective ways you can market your business and bring in customers.

  1. Tap your customers’ passions.  It’s no secret that successful entrepreneurs know how to educate their customers on what they need as well as how the product works.  However, people aren’t usually as interested in what they need as they are in what they really want.  Find out what your customer is passionate about, what motivates that person on a daily basis, what he/she really enjoys doing, etc.  Your marketing materials are much more likely to bring in customers if you appeal to a customer’s lifestyle/culture rather than the product itself.  For instance, if you are selling all-natural cleaning products, an advertisement stating that customers will get “10% off if you stop by all this week” will likely get overlooked.  On the other hand, if your message says, “We’ll provide you with all your green cleaning needs because your family’s well-being is our #1 priority,” you’ve now tapped into your customer’s desire to eliminate harsh chemicals from the home.  People respond better to messages they care about than they do to sales talk.
  2. Get involved in your community.  Being a part of your community offers wonderful opportunities for networking, service-sharing, customer service, and marketing.  Even better than that though, is demonstrating your commitment to give back.  By participating in community events and hosting your own events, you will be more recognizable to others, and they will be more able to relate to you because like them, you are interested in the community’s well-being.  For example, a local contractor builds the central display for the town’s annual festival for free, makes himself available for free estimates for neighborhood residents, and is regularly seen his children’s baseball games and school fundraising events.  Because he is a visible part of the community who frequents the same local spots as his customers, they are more likely to remember who he is and trust him to do the job well.
  3. Make customers feel special. Word of mouth is a powerful thing, and customers are happy and excited to recommend you to others after they’ve had a memorable, positive experience patronizing your business.  We live in tough economic times where getting the lowest price has become a top priority for most people, and lots of businesses that can offer competitive pricing don’t have time for superior customer service.  Find ways to personalize your products and services, such as including a handwritten thank you note with your customer’s order.  Being kind and attentive to customers is an effective and low-cost way to market your business.

How have you been able to use our suggestions?  What are some other ways to market your business that have worked for you in the past?  Please share your comments below!

Creating Buzz For Your Business

Creating Buzz For Your Business

When starting a business, it is important to focus on the providing a quality product, and consider how best to deliver it to your customers.  However, none of that will matter if no one knows about your product.  You must get people talking about your business, sharing information about it on the internet, and recommending it to others.  This creates a buzz that will bring customers to your door.

  • Highlight personal success stories as well as hardships.  When discussing your business with others, it pays to set yourself apart from others by sharing how you got to where you are.  What led you to the decision to run your business?  What obstacles have you faced and overcome along the way?  How have you achieved your goals thus far?  What makes you passionate about this business?  Answering these types of questions will show others that because your business is a personal victory, that you are dedicated to providing customers with nothing but positive shopping experiences.
  • Reach out to those who have inspired you.  There are no doubt a number of people who have influenced your decision to start a business.  These might be former teachers/professors, family members, friends, fellow business owners, etc.  Don’t be afraid to contact them to share your accomplishments, thanking them for being positively influential in your life, and offering them V.I.P. customer status for inspiring you to achieve your dreams.  You never know where it might lead.  For example, a former dancer has started her own studio and reaches out to her childhood dance instructor to tell her the good news.  Not only does the instructor offer her valuable professional advice, but she offers her services as a master class guest teacher to bring in new clientele.  Those who have taught you well can likely continue passing on their wisdom and experiences.
  • Blog about your business.  Blogging not only allows you to share information about your business, but it affords you the opportunity to interact with current and potential customers.  Regularly participate in the conversation that occurs in your blog’s comments section, and do the same for others’ blogs.  Tip:  Add video.  A humorous and unique video either on your blog or business’s website can create immediate buzz by drawing the attention of a larger population.  If you really execute this well, your video has the potential to go viral; the exposure provided by a viral video can be a turning point for a startup business from which it grows to the next level.
  • Make a major announcement. Sometimes, business owners are successful at creating an initial buzz, but sustaining that attention is difficult.  One way to keep your business at the forefront of the people’s interest is to make a major announcement, like a new product, contest or promotion, equipment upgrade, improved facilities, or competitive price cut.  Create anticipation of your announcement by referring to it in marketing materials with an emphasis on the upcoming date.  When you do make such an announcement, it should be done in such a way that no one is likely to miss it.  For example, a local bakery announces that it will be creating an audition reel for a major reality competition show for chefs and wants to include its customers on the tape.  The bakery’s owner sends out electronic and paper mailings as well as posts a large banner on its storefront offering a free cupcake to any customer who shows up to appear in the audition reel.  The bakery becomes a full house on the day of shooting, and aside from drawing in so many customers, the owner walks away with plenty of quality footage to submit to the network.

Creating buzz for your business is an effective technique to attract new customers and maintain current ones.  How do you create buzz?  Please share your ideas below!

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