DSEF & CBBB: Does Your Business Plan Have ADD?

DSEF & CBBB: Does Your Business Plan Have ADD?

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 twenty-seven 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 one, you haven’t made any progress. Execution is what builds lasting success, and 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 processes. While their goals may be strategic, their process is lengthy and involved. If your method is overly time consuming, it takes away from more important work. More problematic, reliance on the idea generation phase of planning frequently results in a fragmented outcome. Whether you measure the results of your planning process in goals, objectives, or KPIs, if you’re trying to achieve too many outcomes, your business starts to suffer from Attention Deficit Disorder.

It’s tough to achieve your desired execution 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 if we’re intent 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 goals and be uncompromising in your pursuit of excellence in these areas. A relentless focus makes a positive outcome all the more likely.

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

Customer satisfaction
Revenue
Products (improving existing base or adding new ones)

It may not seem like a lot on paper, but executing these three goals is our focus, and we devote one hundred percent of our efforts into their integration. It’s become our formula for success, and it’s become 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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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!

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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!

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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 www.TicketPrinting.com, 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?

Free e-book “Business Owner’s Road Map to Success.” It has over 50 pages of techniques for everything a small business owner needs to master, from business planning and ethical selling to a success mindset. It’s all there and it’s free for you. To get it, just “Like” our Facebook Page here: http://on.fb.me/KsIN6P Pass it on!

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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!

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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.

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.
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.
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.
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!

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Effective Sales Pitches

Effective Sales Pitches

The sales pitch: if done well, it’s one of the most effective ways to show a potential customer that he or she should definitely purchase your product. Salespeople have their own style and flair that they add to their pitches, and you should aim to incorporate your own personality and passion into yours. However, there are some general guidelines that, if followed, will increase the success of your sales pitch.

Build a relationship. Good business is all about relationships. People want to feel that they are doing business with someone who is knowledgeable, reliable, and likeable. Be sure to demonstrate that you care about their satisfaction, not just about their money or making the sale. One way to do this is to initiate conversations in which you show a genuine interest in their lives. Open with questions that allow the customer to talk about his or her family, hobbies, and other interests.
Get personal. Customers want to see who you are as a person, mostly because they want to know that you are more than a salesperson; if they can relate to you, they are more likely to form a positive impression of you. For example, one direct seller of educational books talks about her decision to change her career path during her sales pitch. In it, she shares how important it was for her to stay home with her children and be a role model to them as a strong, responsible woman. Her target market is made up of women who hold the same beliefs, so they can relate to her story and often take an immediate liking to her.
Know your audience. Using the example above, that story would not work if the consultant’s target market were made up of mostly young, career-minded single men and women. That demographic, although able to appreciate her story, would not likely see themselves in her. Make sure you know who your audience is and what would appeal to them. Remember, your interest in your customers should be a genuine one, so doing your research is essential to conveying your sincerity.
Focus on one point. A sales pitch should incorporate certain details, but make sure the focus is on one particular point (perhaps the solution your product is for problem the customer has). This point should be very clear, and everything else in the sales pitch should all be tied back to that main point. For instance, that educational books consultant focuses on her company’s commitment to providing research-backed products recommended by a variety of education experts. She mentions that this guarantee gives her peace of mind that her children will always be exposed to age-appropriate and stimulating materials. Each detail of her sales pitch is related to that point. By the end of the pitch, there should be no question as to what your main point is.

Crafting an effective sales pitch requires time, research, practice, and self-reflection. However, keep in mind these guidelines for a pitch that will increase your sales. What do you think makes an effective sales pitch? Please share your ideas below!

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Questions to Improve Your Business

Running any kind of business requires a lot of self-awareness and self-reflection. Self-awareness helps us use our strengths to their fullest potential and minimize our weaknesses, while self-reflection allows us to improve upon past mistakes. In order to tap into these two qualities and improve your business, ask yourself the following questions to focus your energy in all the right places.

What do I do best? Perhaps you have a unique way of making people feel comfortable, getting them to talk about themselves, and leaving a positive memorable impression on them. Harness your strengths into selling power for your business. Make it a point to chat up as many guests at a home party as possible, and conduct your networking opportunities face-to-face when you can. Whatever you happen to be good at, find a way of incorporating it into your business because you’re not just selling a product; you’re selling yourself.
What is my product’s best solution? The product or service you sell must be the solution to a customer’s problem. Most likely, it has several uses. Decide which is most valuable and desirable for consumers and emphasize it in your demonstration and marketing efforts. For example, your company’s line of educational books for children comes with a trade-in program for customers who make at least one purchase every six months. This solves the all too common problem of children’s rooms being overfilled with books they’ve outgrown. Such a unique and valuable solution to a problem plaguing most parents should definitely be one of the first things a customer learns about your product, as it sets it apart from competitors.
Where are most of my sales coming from? This applies to both your demographic and your method of sale. What is the profile of the customer who is buying the most? (Businesswomen between 25-45 years old, mothers of young children) How are those sales being made? (online, at a home show, through referrals) Analyzing your sales will help you maximize your marketing efforts so you get the greatest return on your investment. It will also reveal any dead-ends you may have been unknowingly pursuing.

You’ve asked the questions; now what do you do with the answers?

Make the best use of this information by creating an action plan. Set a goal (be specific with numbers and deadlines), create benchmarks, plan rewards for yourself, and map out your path to completing the goal. If your goal is to implement a target marketing campaign, use the information you have about your strengths to come up with a way to execute the plan. Identify the solutions your product provides in order to hook your target market, and plan sales methods that will reach them. Now your business approach is based on proven information about just a few elements which are essential to improving your business.

Being aware of yourself and being willing to reflect on past actions are two qualities that can make you a strong business owner. Remember to always be honest with yourself about the answers to these questions, and commit yourself to putting your action plan into effect. What questions do you think should be added to the list? Please share your ideas below!

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Techniques to Get Motivated

Techniques to Get Motivated

Motivation, for most people, comes from within, but there are techniques you can use to get moving. Running a business requires a great deal of self-discipline, so it can be hard to maintain that all of the time. Here are some suggestions for getting motivated and staying the course.

Set your goals and put them in writing. Identifying your goals is a great start to achieving your dreams and making them happen, but if you aren’t putting them in writing, they can lie dormant in your subconscious forever. The act of writing down your goals is a call to action that will drive you to take the steps necessary to accomplish them. Tip: When writing these goals, be specific about any numbers involved; also, include a completion date. For example, if your goal is to increase the number of times you share your opportunity every month, be specific about how much it needs to increase by. “I will share my opportunity 5-7 times per week,” is a much more specific and attainable goal than “I will share my opportunity more often.” The easier your goal is to visualize, the more motivated you will be to achieve it.
Use benchmarks. Much of what is involved in a direct sales business requires long-term projects and objectives. It can be difficult to stay on track, so implement benchmarks to keep you focused along the way. Using the aforementioned goal of sharing your opportunity 5-7 times per week, create a benchmark of 1-2 per day. By doing so, you won’t let the entire week go by and feel like you have to cram it all in to meet your goal. Create benchmarks that are not impossible to meet, but challenge you enough that you feel satisfied with your work, and tailor them to suit the needs of your goal.
Reward yourself. We all need and want something to look forward to. Many nutrition experts suggest that people who are trying to lose weight reward themselves in non-food related ways each time they achieve a goal. The anticipation of a meaningful reward can be a very effective motivator. Not only will it help you reach your immediate goal, but it will help you stay on the path to achieving any long-term objectives you have set.
Read and/or listen to inspirational people. There are a ton of books out there written by motivational speakers both in the sales industry and not. Take some time each week to read a bit or listen to them on your iPod. You can learn a great deal from those who have been where you are, and sometimes all we need is a little extra push from an outside source to keep us on track and get us re-energized. Think of it as another form of professional development.
Focus on excellence rather than perfection. If you set out to be perfect, you are setting yourself up for failure because nobody is perfect. Even the most successful people in the world didn’t get where they are without making mistakes along the way. So instead of focusing on perfection, strive for excellence. You will then be able to celebrate your own personal and professional victories, large and small, and continue reaching for more. You may be your own worst critic, but you should also be your own best cheerleader.

How do you find self-motivation? Please share your ideas in the comments section below!

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Leverage Your Productivity

Which would you rather do: spend two hours completing a task or get it done in 45 minutes? You may be spending more time than is necessary on various projects and day-to-day responsibilities for your business because you may not be working efficiently. Take a look at the list below to learn how you can make the most of your time and increase your productivity.

Find your best time of day. We all have a certain time of the day during which we are the most energized, motivated, and therefore productive. For example, if you’re a morning person, plan on tackling the most challenging of tasks as soon as you begin your day. Not only will you be able to make the most out of your peak time, but you will also be able to enjoy the remainder of your day much more because you already completed the hardest part. On the other hand, if you know you work best after lunch, make a point to eat something healthy and filling enough to give you the fuel you need to kick the next chunk of time into high gear. By identifying when you work best, you can plan your day around those times.
Focus on what makes you money. It isn’t difficult to side-tracked with several smaller tasks like answering emails, updating your Facebook status, and de-cluttering your filing cabinet. Although these are all things that need to be done regularly, when time is of the essence, pour your energy and attention into things that actually make you money. Call your referrals about hosting a party, book a meeting with a prospect to share your opportunity, or work on your demo for that upcoming vendor sale. Money-making activities should always be a top priority when creating your day’s agenda.
Keep a time journal. Whether your do it electronically or by hand, keeping a time journal can be a very helpful tool that you can use to improve your work habits. Document every activity for at least a full work week. Don’t forget to include snack breaks, time spent sending and receiving personal texts, and anything else that you think only take a second. Those “seconds” quickly add up, and by seeing in writing how you have been spending your time, you may realize that a change is in order. On the other hand, you may also find that you are generally good at tuning out distractions, but certain times of day are less productive for other reasons (less energy, something unexpected comes up). Analyze your time journal to further improve your good habits and eliminate bad ones.
Take advantage of what your upline has to offer. One of the great things about the direct selling industry is the access you have to people with experience and success doing exactly what you’re doing. Reach out to your upline to help you stay on task. Ask them for tips on staying focused, how they manage a typical day, and what strategies they have used to increase their own productivity. Your upline is a wonderful resource that can both help you directly or refer you to others who can. Do seek them out to help you make the most out of your day.

Leveraging your productivity requires knowledge of your own strengths and weaknesses, a willingness to reflect and adjust, and motivation to succeed. How do you leverage your productivity? Please share your ideas in the comments section below!