by Karen Dodd
Do you love what you do but your heart quickens and your palms get sweaty when you think of marketing your business? Or, has your marketing become so routine and humdrum that you're even boring yourself? Would it be attractive to you, to be priming your marketing pump now, so that eventually it will run like a well-oiled machine?
Allow me to inject some fun, enthusiasm -- and EASE into your marketing equation.
In mentoring solo-entrepreneurs and self-employed professionals, I've noticed that they often miss utilizing the little things that can make such a big difference in their businesses. Here are some very easy, relatively inexpensive things that you can implement right away, that will help prime your marketing and client attraction funnel.
1. Utilize the back of your business cards. Trust me -- people do turn your business card over, and when there is nothing on the back, you are wasting significant marketing "real estate." I have been at 3 networking events in the past two weeks and the majority of business cards I received were either blank on the back, or contained some insignificant information. While it might be tempting to put your tag line or your mission statement on the flip side, why not put something that will cause people to go to your website? One year ago I built my entire readership for this ezine by having the following on my business cards: "If I simply did 20% High Payoff Activities for the rest of the year, would my income increase?" To create your '80/20 Wealth Board" go to: www.karendodd.com
2. You must, must, must have your own website (not just a company-replicated one) -- even if it's just a simple one or two-pager. If you are still trying to market without an on-line presence, you and your business are going to go the way of the dinosaur. For those of you who are in direct sales, it is critical that you not rely on the cookie-cutter website that your company provides you. Why? Because search engines like Google and Yahoo hate them! As soon as their engines detect a behemoth group of websites that are essentially all the same, they just skip right over yours. While your company-replicated site is great for showcasing your products and services, and for taking orders, you must have your own personal website.
3. Regardless of what type of business you are in, you need to be connecting with your public at least once every two weeks -- preferably once a week. The easiest and most effective way of doing this is via a simple E-newsletter, called an ezine. Alternatively, you could write a Blog -- which can actually serve as your website, until you get one up and running. If you choose to do an ezine, there are extremely simple platforms like Constant Contact or A-Weber. They have hundreds of templates to choose from, so you don't have to have your own graphics designed right away and they make your contact management a breeze. They both offer free trials and then are only around $20 per month after that. For blogging, Blogger is totally free and super easy to use.
4. Learn how to use Social Media to promote your business -- but do it right! When it comes to using social media like Facebook and Twitter, you're probably of two minds. One, you are thinking, why do I, or does anyone else care what I'm doing right now? Or, you are currently using social media, but not capitalizing on it for your business. Either way, you're missing the boat.
I highly recommend Relationship Specialist, Internet Marketing Consultant and Facebook Business Coach, Mari Smith . She is passionate about showing professionals, entrepreneurs and business owners how to develop powerful, profitable relationships using an integrated social media strategy, with Facebook and Twitter. I have worked with Mari personally and she also has tons of free information on her website.
Whether or not you decide to work with Mari, please don't jump into social media and start promoting yourself and your business right away. You will be very disappointed and burn your bridges before you even get started. Instead, look for individuals and groups that fit your niche and look for ways to contribute with ideas and support, first. Then, when you do start self-promoting you will have built a solid following of people who want to hear what you have to say.
Remember that in business -- as in life -- everything you do, says something about you. When you are authentically you and sincerely heart-centered in all that you do, you will bask in the glory of attraction marketing versus push-through marketing. And it only gets easier, more fun and more rewarding from there!
Need some help to figure out how to really focus in on implementing these tips? Then be sure to go to my Events page to get more information about my Inside Every Woman There's a Millionaire® Tea Party. If you are not in our local marketplace, then click here to register for my small group 5-week teleclass.
[Editor's note: Karen is available to work with you one-on-one, to help you identify your niche and implement a step-by-step strategy to build your business and attract your ideal clients. Please email her at Karen@KarenDodd.com for more information.]
©2009 Karen Dodd International
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEBSITE? No problem! But here's what you MUST include:
Working with everyone from moms to millionaires, Karen Dodd helps you connect with your unique gifts and talents, ignite your passion, and take inspired action so you can Focus On The Dream(TM). To learn how you can start or move your business to a level that you've only dreamed of, register now for Karen's free articles at: www.Karendodd.com.
Showing posts with label marketing. Show all posts
Showing posts with label marketing. Show all posts
Thursday, September 17, 2009
Thursday, September 10, 2009
5 Ways To Turn Your Hobby Into A Million Dollar Business
by Karen Dodd
Remember the "old days" when people would talk about marrying for love or for money...as if they were mutually exclusive? Somebody's mother was famous for saying, "Dear, you can love a rich man just as easily as a poor man."
Similarly, many people feel that if they turn their hobby or outside interest into a business, they have to choose between "sharing" their passion for free, or nearly free -- and making it a hugely profitable business. In fact, in mentoring clients over the years, I have noticed that when they're not getting paid for something, they can't keep quiet about it. As soon as they charge money for sharing the same information, their tongue gets tied and it becomes a challenge just to say hello!
Why is that, do you think?
I believe it is my duty to share what I know, with as many people as I can. In fact, my personal concept of becoming a millionaire (besides the money) is to touch at least a million people in my life, through my paid and volunteer work. In order to do that, I have to have my basic needs met. I have to be well-fed, clothed, housed and rested. I need to feel good about myself and my independence in the world, in order to reach out and pull others up. I believe that one of the best ways of achieving your Inside Every Woman There's a Millionaire® lifestyle, is to start your own business.
Now if you love, love, love your job -- please don't stop reading! Being happy and secure in a job where you just can't wait to get up and experience each day, is truly a blessing. Long may it last. However, while you are in that enviable position, why not look at your passion or hobby outside of your work and see how you can turn that into passive and leveraged income? If you're already in your own business now, ask yourself if it's meeting your criteria for "love and money" and look at creative ways of achieving both.
Scour any business magazine and you will find scores of successful entrepreneurs who have successfully parlayed their hobby into a viable business -- in some cases, multi-million dollar ventures.
Your mentoring assignment -- should you choose to accept it:
1. Do your due diligence. Do everything in your power to research your market and figure out if what you are about to offer will cause people to pull out their credit cards. Check out your competition and everything about them. Don't be discouraged if someone else is baking cupcakes with their grandmother's world-famous recipe -- just be sure you have something authentic that isn't just another me-too product. In doing your research, use online tools like doing surveys within your natural network. You can do this via a simple email or use a free and easy survey service like Survey Monkey.
2. Do over-estimate the time and money it will take to get up and running profitably. With so many home-based businesses today, it is possible to start on a shoestring and largely control your outlay. However, it is critical that you know exactly how you will finance your venture and more importantly, how you will finance yourself personally until you can draw an income. If you are going to need to borrow from the bank or raise private investors, you will need a solid business plan. Invest both the time and money necessary in having your plan put together by an expert.
3. Do ask yourself if you have the both the skills and the temperament to start your own business. Some people have turned their hobby into a business, only to discover that they hate the pressures of their own business so much, that they no longer enjoy what used to be their passion. If you love to cook and think that you might like to start a catering business, see if you could go to work for a caterer, to get a real sense of what goes on behind the scenes. As a newbie in your own business, chances are you're going to be working long hours, often with very little pay -- at least at the beginning. Are your psyche and your pocket book going to be okay with that? How will you handle not being able to take regular vacations for awhile, or having to cancel personal plans when something unforeseen comes up in the business?
4. Just because your hobby has become your business, don't give away your power. If you truly have a well-researched idea and a solid plan to take it to the market, don't underestimate your value, both in terms of time and money. I see many solo-entrepreneurs shrug off their accomplishments or hesitate to charge what they're worth because they are so closely tied to what they do. For example, someone who can whip up a six-course gourmet meal for twenty guests, at the drop of a hat, might be reticent about charging a handsome fee for her services. The reality is that what you take for granted is what others will gladly pay for. If you are going to run yourself into the ground, charging little or not enough, your passion (and business) will fizzle, over time.
5. Look for ways to recycle your expertise into passive and leveraged income. If you retail a product or service in your market, don't limit yourself to your geographical area. Perhaps you've turned your love of animals into a dog-grooming business. Obviously you can only only groom so many animals (even with staff) in a given day -- thus, you can only make so much money. That approach provides only "linear income." However, what if you have someone video what you do in your shop and then market that online to people all over the world who have difficult pets to bathe? Or, you might write a simple how-to manual and sell that online. You do the work once but you continue to get paid over and over -- creating passive income. A great way to get the ball rolling on passive and leveraged income is to get really connected to your customers and prospects via a weekly or bi-weekly online newsletter, known as an ezine.
Okay -- you've done your homework, you've written your business plan, you've got your finances ready and you're ready to rock! But you've got to get the word out to your public, right? Remember what I said about your tongue getting stuck to the roof of your mouth, when money gets involved?
Look at your business this way. If you were opening a restaurant or a dress shop, you'd probably need to advertise, correct? If you'd just written a book, you'd have a book launch party. As with birthing any "baby" it takes time from the creation of your idea until it becomes a fully developed venture. So, start the buzz early. Use emails, a weekly ezine, free and paid publicity -- and just about every other crazy personality-infused technique you can -- to build excitement before your opening. And Voila! You will be well on your way to the fame, fortune and freedom that having your own successful business can provide.
Need some help to figure out how to really focus in on implementing these tips? Then be sure to go to my Events page to get more information about my Inside Every Woman There's a Millionaire® Tea Party. If you are not in our local marketplace, then click here to register for my small group 5-week teleclass.
[Editor's note: Karen is available to work with you one-on-one, to help you identify your niche and implement a step-by-step strategy to build your business and attract your ideal clients. Please email her at Karen@KarenDodd.com for more information.]
©2009 Karen Dodd International
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEBSITE? No problem! But here's what you MUST include:
Working with everyone from moms to millionaires, Karen Dodd helps you connect with your unique gifts and talents, ignite your passion, and take inspired action so you can Focus On The Dream(TM). To learn how you can start or move your business to a level that you've only dreamed of, register now for Karen's free articles at: www.Karendodd.com.
Remember the "old days" when people would talk about marrying for love or for money...as if they were mutually exclusive? Somebody's mother was famous for saying, "Dear, you can love a rich man just as easily as a poor man."
Similarly, many people feel that if they turn their hobby or outside interest into a business, they have to choose between "sharing" their passion for free, or nearly free -- and making it a hugely profitable business. In fact, in mentoring clients over the years, I have noticed that when they're not getting paid for something, they can't keep quiet about it. As soon as they charge money for sharing the same information, their tongue gets tied and it becomes a challenge just to say hello!
Why is that, do you think?
I believe it is my duty to share what I know, with as many people as I can. In fact, my personal concept of becoming a millionaire (besides the money) is to touch at least a million people in my life, through my paid and volunteer work. In order to do that, I have to have my basic needs met. I have to be well-fed, clothed, housed and rested. I need to feel good about myself and my independence in the world, in order to reach out and pull others up. I believe that one of the best ways of achieving your Inside Every Woman There's a Millionaire® lifestyle, is to start your own business.
Now if you love, love, love your job -- please don't stop reading! Being happy and secure in a job where you just can't wait to get up and experience each day, is truly a blessing. Long may it last. However, while you are in that enviable position, why not look at your passion or hobby outside of your work and see how you can turn that into passive and leveraged income? If you're already in your own business now, ask yourself if it's meeting your criteria for "love and money" and look at creative ways of achieving both.
Scour any business magazine and you will find scores of successful entrepreneurs who have successfully parlayed their hobby into a viable business -- in some cases, multi-million dollar ventures.
Your mentoring assignment -- should you choose to accept it:
1. Do your due diligence. Do everything in your power to research your market and figure out if what you are about to offer will cause people to pull out their credit cards. Check out your competition and everything about them. Don't be discouraged if someone else is baking cupcakes with their grandmother's world-famous recipe -- just be sure you have something authentic that isn't just another me-too product. In doing your research, use online tools like doing surveys within your natural network. You can do this via a simple email or use a free and easy survey service like Survey Monkey.
2. Do over-estimate the time and money it will take to get up and running profitably. With so many home-based businesses today, it is possible to start on a shoestring and largely control your outlay. However, it is critical that you know exactly how you will finance your venture and more importantly, how you will finance yourself personally until you can draw an income. If you are going to need to borrow from the bank or raise private investors, you will need a solid business plan. Invest both the time and money necessary in having your plan put together by an expert.
3. Do ask yourself if you have the both the skills and the temperament to start your own business. Some people have turned their hobby into a business, only to discover that they hate the pressures of their own business so much, that they no longer enjoy what used to be their passion. If you love to cook and think that you might like to start a catering business, see if you could go to work for a caterer, to get a real sense of what goes on behind the scenes. As a newbie in your own business, chances are you're going to be working long hours, often with very little pay -- at least at the beginning. Are your psyche and your pocket book going to be okay with that? How will you handle not being able to take regular vacations for awhile, or having to cancel personal plans when something unforeseen comes up in the business?
4. Just because your hobby has become your business, don't give away your power. If you truly have a well-researched idea and a solid plan to take it to the market, don't underestimate your value, both in terms of time and money. I see many solo-entrepreneurs shrug off their accomplishments or hesitate to charge what they're worth because they are so closely tied to what they do. For example, someone who can whip up a six-course gourmet meal for twenty guests, at the drop of a hat, might be reticent about charging a handsome fee for her services. The reality is that what you take for granted is what others will gladly pay for. If you are going to run yourself into the ground, charging little or not enough, your passion (and business) will fizzle, over time.
5. Look for ways to recycle your expertise into passive and leveraged income. If you retail a product or service in your market, don't limit yourself to your geographical area. Perhaps you've turned your love of animals into a dog-grooming business. Obviously you can only only groom so many animals (even with staff) in a given day -- thus, you can only make so much money. That approach provides only "linear income." However, what if you have someone video what you do in your shop and then market that online to people all over the world who have difficult pets to bathe? Or, you might write a simple how-to manual and sell that online. You do the work once but you continue to get paid over and over -- creating passive income. A great way to get the ball rolling on passive and leveraged income is to get really connected to your customers and prospects via a weekly or bi-weekly online newsletter, known as an ezine.
Okay -- you've done your homework, you've written your business plan, you've got your finances ready and you're ready to rock! But you've got to get the word out to your public, right? Remember what I said about your tongue getting stuck to the roof of your mouth, when money gets involved?
Look at your business this way. If you were opening a restaurant or a dress shop, you'd probably need to advertise, correct? If you'd just written a book, you'd have a book launch party. As with birthing any "baby" it takes time from the creation of your idea until it becomes a fully developed venture. So, start the buzz early. Use emails, a weekly ezine, free and paid publicity -- and just about every other crazy personality-infused technique you can -- to build excitement before your opening. And Voila! You will be well on your way to the fame, fortune and freedom that having your own successful business can provide.
Need some help to figure out how to really focus in on implementing these tips? Then be sure to go to my Events page to get more information about my Inside Every Woman There's a Millionaire® Tea Party. If you are not in our local marketplace, then click here to register for my small group 5-week teleclass.
[Editor's note: Karen is available to work with you one-on-one, to help you identify your niche and implement a step-by-step strategy to build your business and attract your ideal clients. Please email her at Karen@KarenDodd.com for more information.]
©2009 Karen Dodd International
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEBSITE? No problem! But here's what you MUST include:
Working with everyone from moms to millionaires, Karen Dodd helps you connect with your unique gifts and talents, ignite your passion, and take inspired action so you can Focus On The Dream(TM). To learn how you can start or move your business to a level that you've only dreamed of, register now for Karen's free articles at: www.Karendodd.com.
Thursday, August 27, 2009
How Determining Your Value Attracts More IDEAL Clients
by Karen Dodd
In last week's marketing assignment I asked you to first, focus on your Vision for yourself and your business. I asked you to consider:
why you started your business in the first place
if you wanted to work more on your business than in it, and
whether you want to remain as a "solo-preneur" or if you want expand and add staff
Would it surprise you to know that everything you do in your business -- from what value you provide your clients, to what you charge, what kind of hours you work, and what types of clients you attract -- all comes down to what LEGACY you are committed to creating?
Determining your Purpose and turning it into your business, should become your Mission.Your mission and how you plan to take that to the marketplace and serve, is what determines who you are, what you contribute, and what you will eventually be known for when you leave this earth.
Regardless of whether you are a photographer, an interior designer, a health and nutrition expert...you name it, it isn't about what you do that counts to your clients -- it's about the transformation that you help them produce. Put another way, it's not the process of what you do that causes a prospective client to invest in your product or service -- it's the results they believe they will achieve by working with you -- that determines your value in the marketplace.By focusing on communicating your transformational value to your prospect, you can actually work less and charge more.
Very often, when I start mentoring a client, they feel that in order to make more income, they either have to work harder or -- that they need to add more "stuff" to their product offering, in order to justify charging more. Or, they simply deduce that they need more paying clients to bring in more revenue.
Instead of trying to attract a greater volume of clients, what if you could attract less clients who each represent greater value to your business? By being clear on your Mission and your Transformational Value, you can do exactly that. But, you have to stop selling what you do!
By working with less clients who pay you more, you are accomplishing a number of significant things -- for both yourself and your clients. Let's just explore that.
1. When you work less hours with less clients, you can afford to serve them more effectively. If you believe that your contribution is to serve others (which I do), this premise allows you to be more effective in transforming the lives of those you work with. You will find yourself more able to be fully present, less stressed and more "intimate" in your work with them. You can afford to provide much more hands-on support when you serve less people.
2. If you build your value on higher-priced products/services, you can afford to stay in the game long enough to truly be of service. How would you feel if you knew you were providing really good value but couldn't afford to stay in business because you weren't charging enough? Then one day, someone (many people) call, only to find you've gone out of business? Or worse, you've become a burned-out wreck! You can't serve others if you don't serve yourself and your needs first.
3. By charging more for better results, you actually develop client loyalty. The more "skin in the game" they have, the more likely it is they will continue to buy from you over and over. They will also provide you with more high-quality referrals because they can point to tangible changes for which you were responsible. Think about it: if they know your product/service produces results, why would they want to switch to investing in an unknown?
Understand that people only part with their money to avoid pain, or achieve gain. If you focus more on communicating how working with you will accomplish that, you will find yourself doing less pursuing and more attracting. After all, there is nothing less attractive than the stereo-typical concept of a "pushy salesperson," right? When you pursue a prospective client, they only have two options. First, they resist or run the other way (or stall on making a decision), or second, they submit...often not very enthusiastically.
By focusing on a "transformational business model," you learn how to communicate the value of moving ahead with you, in a true and "holistic" way. Using heart-centered principles, you can help your prospect see how not moving ahead, affects all aspects of their life -- not just what your product or service directly addresses.
Your mentoring assignment -- should you choose to accept it:
What is your Mission? What Legacy do you wish to create? By getting really clear on this, you are better able to answer the next question, which is....
What is your Transformational Value? Write out exactly what results someone will achieve by working with you or purchasing your products. Be sure to keep you and what you do, out of the equation. This is all about them! What will their life look like when they avoid the pain or achieve the gain?
Write out exactly what you will say the next time someone asks, "What does it cost to work with you (buy your product, etc.)?"
Tip: If you are not 100% prepared for this question -- or you give them a number right up front, you may as well kiss the prospect goodbye! Abraham Lincoln would spend 2 hours sharpening his axe and one hour cutting down the tree. Knowing how to communicate value -- versus quoting your price -- will be one of the most significant things you will do in your business. It will allow you to work less, attract the right clients, and take your business -- and your income -- to the next BIG level!
Need some help to figure out how to really focus in on implementing these tips? Then be sure to go to my Events page to get more information about my Inside Every Woman There's a Millionaire® Tea Party. If you are not in our local marketplace, then click here to register for my small group 5-week teleclass.
[Editor's note: Karen is available to work with you one-on-one, to help you identify your niche and implement a step-by-step strategy to build your business and attract your ideal clients. Please email her at Karen@KarenDodd.com for more information.]
©2009 Karen Dodd International
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEBSITE? No problem! But here's what you MUST include:
Working with everyone from moms to millionaires, Karen Dodd helps you connect with your unique gifts and talents, ignite your passion, and take inspired action so you can Focus On The Dream(TM). To learn how you can start or move your business to a level that you've only dreamed of, register now for Karen's free articles at: www.Karendodd.com.
In last week's marketing assignment I asked you to first, focus on your Vision for yourself and your business. I asked you to consider:
why you started your business in the first place
if you wanted to work more on your business than in it, and
whether you want to remain as a "solo-preneur" or if you want expand and add staff
Would it surprise you to know that everything you do in your business -- from what value you provide your clients, to what you charge, what kind of hours you work, and what types of clients you attract -- all comes down to what LEGACY you are committed to creating?
Determining your Purpose and turning it into your business, should become your Mission.Your mission and how you plan to take that to the marketplace and serve, is what determines who you are, what you contribute, and what you will eventually be known for when you leave this earth.
Regardless of whether you are a photographer, an interior designer, a health and nutrition expert...you name it, it isn't about what you do that counts to your clients -- it's about the transformation that you help them produce. Put another way, it's not the process of what you do that causes a prospective client to invest in your product or service -- it's the results they believe they will achieve by working with you -- that determines your value in the marketplace.By focusing on communicating your transformational value to your prospect, you can actually work less and charge more.
Very often, when I start mentoring a client, they feel that in order to make more income, they either have to work harder or -- that they need to add more "stuff" to their product offering, in order to justify charging more. Or, they simply deduce that they need more paying clients to bring in more revenue.
Instead of trying to attract a greater volume of clients, what if you could attract less clients who each represent greater value to your business? By being clear on your Mission and your Transformational Value, you can do exactly that. But, you have to stop selling what you do!
By working with less clients who pay you more, you are accomplishing a number of significant things -- for both yourself and your clients. Let's just explore that.
1. When you work less hours with less clients, you can afford to serve them more effectively. If you believe that your contribution is to serve others (which I do), this premise allows you to be more effective in transforming the lives of those you work with. You will find yourself more able to be fully present, less stressed and more "intimate" in your work with them. You can afford to provide much more hands-on support when you serve less people.
2. If you build your value on higher-priced products/services, you can afford to stay in the game long enough to truly be of service. How would you feel if you knew you were providing really good value but couldn't afford to stay in business because you weren't charging enough? Then one day, someone (many people) call, only to find you've gone out of business? Or worse, you've become a burned-out wreck! You can't serve others if you don't serve yourself and your needs first.
3. By charging more for better results, you actually develop client loyalty. The more "skin in the game" they have, the more likely it is they will continue to buy from you over and over. They will also provide you with more high-quality referrals because they can point to tangible changes for which you were responsible. Think about it: if they know your product/service produces results, why would they want to switch to investing in an unknown?
Understand that people only part with their money to avoid pain, or achieve gain. If you focus more on communicating how working with you will accomplish that, you will find yourself doing less pursuing and more attracting. After all, there is nothing less attractive than the stereo-typical concept of a "pushy salesperson," right? When you pursue a prospective client, they only have two options. First, they resist or run the other way (or stall on making a decision), or second, they submit...often not very enthusiastically.
By focusing on a "transformational business model," you learn how to communicate the value of moving ahead with you, in a true and "holistic" way. Using heart-centered principles, you can help your prospect see how not moving ahead, affects all aspects of their life -- not just what your product or service directly addresses.
Your mentoring assignment -- should you choose to accept it:
What is your Mission? What Legacy do you wish to create? By getting really clear on this, you are better able to answer the next question, which is....
What is your Transformational Value? Write out exactly what results someone will achieve by working with you or purchasing your products. Be sure to keep you and what you do, out of the equation. This is all about them! What will their life look like when they avoid the pain or achieve the gain?
Write out exactly what you will say the next time someone asks, "What does it cost to work with you (buy your product, etc.)?"
Tip: If you are not 100% prepared for this question -- or you give them a number right up front, you may as well kiss the prospect goodbye! Abraham Lincoln would spend 2 hours sharpening his axe and one hour cutting down the tree. Knowing how to communicate value -- versus quoting your price -- will be one of the most significant things you will do in your business. It will allow you to work less, attract the right clients, and take your business -- and your income -- to the next BIG level!
Need some help to figure out how to really focus in on implementing these tips? Then be sure to go to my Events page to get more information about my Inside Every Woman There's a Millionaire® Tea Party. If you are not in our local marketplace, then click here to register for my small group 5-week teleclass.
[Editor's note: Karen is available to work with you one-on-one, to help you identify your niche and implement a step-by-step strategy to build your business and attract your ideal clients. Please email her at Karen@KarenDodd.com for more information.]
©2009 Karen Dodd International
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEBSITE? No problem! But here's what you MUST include:
Working with everyone from moms to millionaires, Karen Dodd helps you connect with your unique gifts and talents, ignite your passion, and take inspired action so you can Focus On The Dream(TM). To learn how you can start or move your business to a level that you've only dreamed of, register now for Karen's free articles at: www.Karendodd.com.
Thursday, August 20, 2009
Vision + Consistency = Tons of Clients!
by Karen Dodd
Why do you think that top business consultants advise you to build your new business as if you were going to sell it? To answer that, let me share how I learned this the hard way, with the very first business I ever owned.
Back in the early 80's, I had the tremendous good fortune to have been invited to build a small food outlet in a new and trendy area of Vancouver called Granville Island. The concept of having a public market on a man-made island which had previously been a foundry, was the beginning of moving consumers from mega grocery chains, back to shopping at Ma & Pop-type shops. My shop was profitable from day one -- which was quite a feat -- as at that time, you expected to be two to five years into your business before it was in the black.
I remember as if it was yesterday, a conversation with my accountant right after he had gone over my balance sheet. I was a little nervous because although I knew we had really good cash flow, I actually had no idea if I was making money or not. He put down my paperwork, took off his glasses and said to me, "Okay, now's the time to dump it." I was horrified! I erroneously thought I had had a really bad year. However, he went on to explain that this was the very best position I could have been in and that it was the ideal time to sell.
But do you know what? The business was my baby -- I had no idea what I would do if I sold it -- and I told him so. Want to know what he said? "Who cares? Take the money, go chill out on a beach and figure out what you want to do next."
The end result is that I didn't sell that business, and it languished for another two or three years, at which point I was burned out and needed to sell it -- and didn't get nearly the price that I would have if I'd sold earlier on. Why do you think I procrastinated on selling and moving ahead? Lack of VISION. If I had been building that business, knowing I was going to sell it at it's most successful point, I would have been much more aggressive in developing my marketing, keeping it in a highly profitable position -- and I would have had a succession plan for myself.
Even if you are in a highly personal consulting-type business, where you are really the business, always be thinking -- what would I be doing in my business if I was expecting to be bought over by a successful company. Besides having that VISION, the second part of the equation is how are you going to build the client-base or goodwill that will become your best asset? Which brings me back to the business consultant I talked to earlier this week.
As was my experience with my retail store, he had found himself in the fortunate position of never having to market his business. In his case, he worked solely by referral and up until a year ago, actually had potential business slipping through his fingers because he was too busy to follow up. In fact, he brought a partner in for that very reason. Nice problem to have, for sure.
Well, guess what happened? The economy changed and people started to pull in their horns. Although he is still doing very well, relative to his competitors, he now realizes that he needs to start marketing -- and he's starting from scratch at the worst possible time -- when he needs clients! It's a bit like going to the bank for a line of credit when you need it, rather than planning in advance and putting it in place when you don't actually require the money.
The sad part is that this gentleman's situation is not unique. In fact, I would say it's pretty well the norm. Most solo-entrepreneurs and professionals spend so much time working at their craft and doing what they do well, that they typically don't give marketing much thought. Sometimes they differentiate marketing their business, from sales or advertising. However, the reality today is that marketing is all of those things -- and in order to avoid going the well when it's dry, you simply must have a marketing system that operates automatically.
The good news, is that your marketing system can be put in place fairly quickly and with relatively little expense. Here's your marketing assignment for your own business or practice:
1. Focus on your vision for yourself and your business. Why did you start your business in the first place? Over time, do you want to work more on your business than in it? Do you want to stay as a sole practitioner or do you want to expand and add staff? No matter the answer, pretend that you're going to one day be bought out by a hugely successful organization, and build with that in mind.
2. Using your answers from the first question, determine what you need to do to add to or change your product mix. For example, if you want to stay a solo-entrepreneur (without expanding locations or adding staff), what products or services could you develop that would add more value to your customers? Focus on knowledge and expertise that you already have, rather than reinventing the wheel. One of my clients who owns a wine-making store decided to rent out his luxurious RV and designed driving routes his customers needed to take wine-tours. It worked phenomenally well!
3. Reconnect with your clients and prospects. Take advantage of high-tech tools to become high-touch -- things like a weekly or bi-weekly ezine, blog or a simple email that provides tips and tools that your market would find helpful. Save customers the time and money they would otherwise have to spend to get that information for themselves. If you're not sure what they would find valuable, use a survey service like Survey Monkey (it's fre*e and easy to use) to find out. Just be sure to keep it to no more than five or six well thought out questions that only takes a couple of minutes to complete. Alternatively, send an email asking, "What is the #1 challenge that you are experiencing in your business today?" My favorite is: "If I could give you one gift that would help you in your business today, what would it be?"
4. Using the information gleaned from Question 3, figure out what your prospects and clients would willingly pay for, if you provided it to them? Could you package your expertise into an E-book, home study system or a teleclass? These can be priced anywhere from a low of $49 to several hundred or thousands of dollars. The key here is that you're creating passive and leveraged streams of income, without investing dollars in business expansion, ie. having a second business location.
5. Create an irresistible fre*e offer. Could you give away a Special Report, a CD of you being interviewed, or a fre*e teleclass -- all to do with what you do and how learning this information from you, can further your clients' business success? Get creative. You could even put a 2-minute audio or video on your website or in an email, enticing them to grab your fre*e offer.
6. Use the "buddy system." Many professionals that I work with, fill their client funnel by doing monthly or quarterly Client Appreciation Seminars. Typically, you'd provide breakfast or lunch and bring in guest speakers (many of whom will do it no charge for the exposure). I've had clients who have invited their customers for cooking demos, how to improve your golf swing, or travel presentations. To really capitalize on this opportunity, make it clear in the invitation that they are to bring a friend or colleague as a guest. Then when you call to follow up, ask for their friend's name and address so you can send them a personal invitation.
We all know that jet pilots don't actually sit there and steer the plane for the eight or nine hours it takes to cross the Atlantic. Instead, the plane is on auto-pilot and the pilot and co-pilot monitor their progress and make course corrections from time to time.
Don't wait until your "plane-full" of clients runs off course! Do you have the vision for your business and know exactly how you're going to keep a steady stream of ideal clients walking through your door? By taking this assignment seriously and starting to think of these things now, your ideas will become the fuel that keeps your marketing machine running automatically.
Be sure to read next week's In Focus: Success & Marketing Highlights to discover how to attract more clients purposefully -- eliminating the feast or famine that tends to plague solo entrepreneurs.
Need some help to figure out how to really focus in on implementing these tips? Then be sure to go to my Events page to get more information about my Inside Every Woman There's a Millionaire® Tea Party. If you are not in our local marketplace, then click here to register for my small group 5-week teleclass.
[Editor's note: Karen is available to work with you one-on-one, to help you identify your niche and implement a step-by-step strategy to build your business and attract your ideal clients. Please email her at Karen@KarenDodd.com for more information.]
©2009 Karen Dodd International
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEBSITE? No problem! But here's what you MUST include:
Working with everyone from moms to millionaires, Karen Dodd helps you connect with your unique gifts and talents, ignite your passion, and take inspired action so you can Focus On The Dream(TM). To learn how you can start or move your business to a level that you've only dreamed of, register now for Karen's free articles at: www.Karendodd.com.
Why do you think that top business consultants advise you to build your new business as if you were going to sell it? To answer that, let me share how I learned this the hard way, with the very first business I ever owned.
Back in the early 80's, I had the tremendous good fortune to have been invited to build a small food outlet in a new and trendy area of Vancouver called Granville Island. The concept of having a public market on a man-made island which had previously been a foundry, was the beginning of moving consumers from mega grocery chains, back to shopping at Ma & Pop-type shops. My shop was profitable from day one -- which was quite a feat -- as at that time, you expected to be two to five years into your business before it was in the black.
I remember as if it was yesterday, a conversation with my accountant right after he had gone over my balance sheet. I was a little nervous because although I knew we had really good cash flow, I actually had no idea if I was making money or not. He put down my paperwork, took off his glasses and said to me, "Okay, now's the time to dump it." I was horrified! I erroneously thought I had had a really bad year. However, he went on to explain that this was the very best position I could have been in and that it was the ideal time to sell.
But do you know what? The business was my baby -- I had no idea what I would do if I sold it -- and I told him so. Want to know what he said? "Who cares? Take the money, go chill out on a beach and figure out what you want to do next."
The end result is that I didn't sell that business, and it languished for another two or three years, at which point I was burned out and needed to sell it -- and didn't get nearly the price that I would have if I'd sold earlier on. Why do you think I procrastinated on selling and moving ahead? Lack of VISION. If I had been building that business, knowing I was going to sell it at it's most successful point, I would have been much more aggressive in developing my marketing, keeping it in a highly profitable position -- and I would have had a succession plan for myself.
Even if you are in a highly personal consulting-type business, where you are really the business, always be thinking -- what would I be doing in my business if I was expecting to be bought over by a successful company. Besides having that VISION, the second part of the equation is how are you going to build the client-base or goodwill that will become your best asset? Which brings me back to the business consultant I talked to earlier this week.
As was my experience with my retail store, he had found himself in the fortunate position of never having to market his business. In his case, he worked solely by referral and up until a year ago, actually had potential business slipping through his fingers because he was too busy to follow up. In fact, he brought a partner in for that very reason. Nice problem to have, for sure.
Well, guess what happened? The economy changed and people started to pull in their horns. Although he is still doing very well, relative to his competitors, he now realizes that he needs to start marketing -- and he's starting from scratch at the worst possible time -- when he needs clients! It's a bit like going to the bank for a line of credit when you need it, rather than planning in advance and putting it in place when you don't actually require the money.
The sad part is that this gentleman's situation is not unique. In fact, I would say it's pretty well the norm. Most solo-entrepreneurs and professionals spend so much time working at their craft and doing what they do well, that they typically don't give marketing much thought. Sometimes they differentiate marketing their business, from sales or advertising. However, the reality today is that marketing is all of those things -- and in order to avoid going the well when it's dry, you simply must have a marketing system that operates automatically.
The good news, is that your marketing system can be put in place fairly quickly and with relatively little expense. Here's your marketing assignment for your own business or practice:
1. Focus on your vision for yourself and your business. Why did you start your business in the first place? Over time, do you want to work more on your business than in it? Do you want to stay as a sole practitioner or do you want to expand and add staff? No matter the answer, pretend that you're going to one day be bought out by a hugely successful organization, and build with that in mind.
2. Using your answers from the first question, determine what you need to do to add to or change your product mix. For example, if you want to stay a solo-entrepreneur (without expanding locations or adding staff), what products or services could you develop that would add more value to your customers? Focus on knowledge and expertise that you already have, rather than reinventing the wheel. One of my clients who owns a wine-making store decided to rent out his luxurious RV and designed driving routes his customers needed to take wine-tours. It worked phenomenally well!
3. Reconnect with your clients and prospects. Take advantage of high-tech tools to become high-touch -- things like a weekly or bi-weekly ezine, blog or a simple email that provides tips and tools that your market would find helpful. Save customers the time and money they would otherwise have to spend to get that information for themselves. If you're not sure what they would find valuable, use a survey service like Survey Monkey (it's fre*e and easy to use) to find out. Just be sure to keep it to no more than five or six well thought out questions that only takes a couple of minutes to complete. Alternatively, send an email asking, "What is the #1 challenge that you are experiencing in your business today?" My favorite is: "If I could give you one gift that would help you in your business today, what would it be?"
4. Using the information gleaned from Question 3, figure out what your prospects and clients would willingly pay for, if you provided it to them? Could you package your expertise into an E-book, home study system or a teleclass? These can be priced anywhere from a low of $49 to several hundred or thousands of dollars. The key here is that you're creating passive and leveraged streams of income, without investing dollars in business expansion, ie. having a second business location.
5. Create an irresistible fre*e offer. Could you give away a Special Report, a CD of you being interviewed, or a fre*e teleclass -- all to do with what you do and how learning this information from you, can further your clients' business success? Get creative. You could even put a 2-minute audio or video on your website or in an email, enticing them to grab your fre*e offer.
6. Use the "buddy system." Many professionals that I work with, fill their client funnel by doing monthly or quarterly Client Appreciation Seminars. Typically, you'd provide breakfast or lunch and bring in guest speakers (many of whom will do it no charge for the exposure). I've had clients who have invited their customers for cooking demos, how to improve your golf swing, or travel presentations. To really capitalize on this opportunity, make it clear in the invitation that they are to bring a friend or colleague as a guest. Then when you call to follow up, ask for their friend's name and address so you can send them a personal invitation.
We all know that jet pilots don't actually sit there and steer the plane for the eight or nine hours it takes to cross the Atlantic. Instead, the plane is on auto-pilot and the pilot and co-pilot monitor their progress and make course corrections from time to time.
Don't wait until your "plane-full" of clients runs off course! Do you have the vision for your business and know exactly how you're going to keep a steady stream of ideal clients walking through your door? By taking this assignment seriously and starting to think of these things now, your ideas will become the fuel that keeps your marketing machine running automatically.
Be sure to read next week's In Focus: Success & Marketing Highlights to discover how to attract more clients purposefully -- eliminating the feast or famine that tends to plague solo entrepreneurs.
Need some help to figure out how to really focus in on implementing these tips? Then be sure to go to my Events page to get more information about my Inside Every Woman There's a Millionaire® Tea Party. If you are not in our local marketplace, then click here to register for my small group 5-week teleclass.
[Editor's note: Karen is available to work with you one-on-one, to help you identify your niche and implement a step-by-step strategy to build your business and attract your ideal clients. Please email her at Karen@KarenDodd.com for more information.]
©2009 Karen Dodd International
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEBSITE? No problem! But here's what you MUST include:
Working with everyone from moms to millionaires, Karen Dodd helps you connect with your unique gifts and talents, ignite your passion, and take inspired action so you can Focus On The Dream(TM). To learn how you can start or move your business to a level that you've only dreamed of, register now for Karen's free articles at: www.Karendodd.com.
Thursday, August 13, 2009
The Magic of Mentorship
by Karen Dodd
What do you think Oprah Winfrey, Richard Branson, Kim and Robert Kiyosaki and Anne McKevitt all have in common?
They give enormous amounts of credit for their success, not just to their own willingness to take action, but to important people who mentored them in their respective careers. Some of these individuals were fortunate that someone took a sincere interest in them and simply took them under their wings. However, as time went on and they were struggling to make a name for themselves, they all -- without exception -- hired experts who could teach them the important aspects of life and business, that they had not yet learned. Had they not done that, do you think we'd know their names today?
Recently I listened to a fascinating interview with rags-to-riches billionaire Anne McKevitt, a woman that many, if not most would be unfamiliar with. In relating her story and where she (correctly) predicted the world economy would be today, she shared some very interesting principles that I think apply to all of us, whether we're famous or not.
First, it appears that the vast majority of people don't understand that failure is part of the process of success. We've all heard those cliches about failing your way to the top, but I think that has become such a commonly heard phrase, that we no longer take it seriously. We've kind of become de-sensitized to the reality and lessons of failing. Show me someone who says they've never failed, and I'll show you a fibber or a non-risk taker.
The good news about failing is that when you hit rock bottom, you realize that you actually have the power to make dramatic changes. By taking responsibility, coupled with intelligent action, you can climb back up relatively quickly. However, when you hit rock bottom -- or just a bump in the road -- it can be difficult to recover if you're not sure what got you there in the first place.
Having been on both sides of the fence -- being mentored and mentoring others -- I see the biggest challenge for people who are considering a mentor, to be the cost versus benefit decision. Or, being the persistent people that we entrepreneurs are, we figure we can just dust ourselves off and battle through it ourselves. But is that productive? Is it FUN?
Sometimes we're so enmeshed in our own situation that it is difficult to see the forest for the trees. As one of my own coaches told me recently, it is much easier for an outsider to see our situation from 30,000 feet, than ourselves, who are right in the thick of things. Add to that, their expertise and ideas that you might not even have thought of, and there can be tremendous progress made in a relatively short period of time by having a mentor.
One of the biggest benefits that McKevitt talked about with her personal experience of mentoring, is the ability to go from ladder-climbing to leaping. Often, we have been conditioned by parents and people who care about us to take little baby steps and to plod along slowly but steadily. I know I can relate to that, having had parents who went through the Great Depression.
By taking a step back from that cautionary advice -- and with the help of an expert -- you may determine that not only have you been slowly ladder-climbing, but you might actually be on the wrong ladder! I don't know about you, but I would rather find that out sooner rather than later, so that I could stop self-sabotaging and step more easily into my greatness.
There are several ways to benefit from the expertise of a mentor, some of which won't cost you a penny:
1. Start or join a mastermind group. Having the support of like-minded people who can look at your ideas with fresh eyes can be tremendously helpful. The caveat is to make sure it is a strong group with structure, that meets often and has a leader. Otherwise, they tend to turn into coffee klatches and can be real time-wasters. You don't need to meet in person. In fact, there are many good mastermind groups online where you can "meet" on a weekly or monthly basis. My own VIP Mentorship group is one of them and you can try it out for 2 months for fre*e.
2. Hire a coach or mentor that is affordable for your budget. Instead of thinking about what working with a mentor will "cost", look at the value that you will derive. For example, determine what you get paid on an hourly basis (or per sale) for what you do. Then look at what one good idea from a mentor would net you in increased sales or billable hours. You might not have budgeted for a coach but hopefully you plan every year for annual growth in your business. Implementing your business mentor's ideas can significantly add to your bottom-line. Using myself as an example, I doubled my client base in 8 months, solely from a coaching program I invested in last November. Do you think that was worth it? You bet -- plus now I can share those money-making ideas with my clients!
3. Work with a mentor by way of their home-study courses or small group teleclasses. These are always much less expensive, you can get their expertise on a very targeted basis, and you can pace yourself both time and investment wise. This is actually how I started working with both my coaches. It also gives you a really good flavor for how they work and whether their style of mentoring works for you.
In all cases, when engaging a mentor/coach or mastermind group, here is the due diligence you'll want to do:
ask for a "get acquainted" session with them, either in person or on the phone. This should be fre*e of charge and depending on the mentor, could range from 15 minutes to 1 hour
ask them exactly what results you can expect from working with them. If they say something like, "Well you know, I'll be coaching you. We'll meet every week on the phone, I'll give you advice and then you'll go do it" -- run the other way! If the person mentoring you doesn't have quantifiable clarity around how they'll help you, how are you going to make the necessary changes to move forward?
ask for testimonials and clients they've worked with before. You want to be sure that you aren't a brand new coach's guinea-pig. I know -- they all have to start somewhere, but that's not your problem!
attend one or more of their fre*e teleseminars. Virtually every good coach I know has weekly or monthly 1-hour seminars that are content rich and again, will give you an opportunity to sample their style. Be prepared for 10 - 15 minutes of self-promotion (after all, there's no free lunch) but you will very quickly learn who is giving really good content and who is just giving fluff
don't be afraid to be clear about your budget and find out how flexible their payment options are. Depending on the initial investment of their programs, there is almost always a monthly, 2-pay or 3-pay option.
I personally like to offer 100% money-back guarantees on all home-study courses (I know I'll get a lot of flak about this!) The reality is that a good coach knows that they will very seldom have to give refunds because they know their programs get results. However, giving prospects the comfort of knowing that they can return the product anytime within 1 year, goes a long way toward building a trusting relationship
As Anne McKevitt said in her interview -- today more than ever -- people want more honesty, not too much to read or digest, and no BS. She also brought up one very interesting point -- and that is that in networking or masterminding, many people only attend their own industry-related events. For example, a financial planner might do most of his or her education by attending events that qualify them for their continuing education credits. The downside of that is that they may never get those "fresh eyes" who can objectively take a look at what they're doing and suggest things that could raise their awareness -- and have a huge impact on their personal and business growth.
Need some help to figure out how to really focus in on implementing these things? Then be sure to go to my Events page to get more information about my Inside Every Woman There's a Millionaire® Tea Party. If you are not in our local marketplace, then click here to register for my small group 5-week teleclass.
[Editor's note: Karen is available to work with you one-on-one, to help you identify your niche and implement a step-by-step strategy to build your business and attract your ideal clients. Please email her at Karen@KarenDodd.com for more information.]
©2009 Karen Dodd International
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEBSITE? No problem! But here's what you MUST include:
Working with everyone from moms to millionaires, Karen Dodd helps you connect with your unique gifts and talents, ignite your passion, and take inspired action so you can Focus On The Dream(TM). To learn how you can start or move your business to a level that you've only dreamed of, register now for Karen's free articles at: www.Karendodd.com.
What do you think Oprah Winfrey, Richard Branson, Kim and Robert Kiyosaki and Anne McKevitt all have in common?
They give enormous amounts of credit for their success, not just to their own willingness to take action, but to important people who mentored them in their respective careers. Some of these individuals were fortunate that someone took a sincere interest in them and simply took them under their wings. However, as time went on and they were struggling to make a name for themselves, they all -- without exception -- hired experts who could teach them the important aspects of life and business, that they had not yet learned. Had they not done that, do you think we'd know their names today?
Recently I listened to a fascinating interview with rags-to-riches billionaire Anne McKevitt, a woman that many, if not most would be unfamiliar with. In relating her story and where she (correctly) predicted the world economy would be today, she shared some very interesting principles that I think apply to all of us, whether we're famous or not.
First, it appears that the vast majority of people don't understand that failure is part of the process of success. We've all heard those cliches about failing your way to the top, but I think that has become such a commonly heard phrase, that we no longer take it seriously. We've kind of become de-sensitized to the reality and lessons of failing. Show me someone who says they've never failed, and I'll show you a fibber or a non-risk taker.
The good news about failing is that when you hit rock bottom, you realize that you actually have the power to make dramatic changes. By taking responsibility, coupled with intelligent action, you can climb back up relatively quickly. However, when you hit rock bottom -- or just a bump in the road -- it can be difficult to recover if you're not sure what got you there in the first place.
Having been on both sides of the fence -- being mentored and mentoring others -- I see the biggest challenge for people who are considering a mentor, to be the cost versus benefit decision. Or, being the persistent people that we entrepreneurs are, we figure we can just dust ourselves off and battle through it ourselves. But is that productive? Is it FUN?
Sometimes we're so enmeshed in our own situation that it is difficult to see the forest for the trees. As one of my own coaches told me recently, it is much easier for an outsider to see our situation from 30,000 feet, than ourselves, who are right in the thick of things. Add to that, their expertise and ideas that you might not even have thought of, and there can be tremendous progress made in a relatively short period of time by having a mentor.
One of the biggest benefits that McKevitt talked about with her personal experience of mentoring, is the ability to go from ladder-climbing to leaping. Often, we have been conditioned by parents and people who care about us to take little baby steps and to plod along slowly but steadily. I know I can relate to that, having had parents who went through the Great Depression.
By taking a step back from that cautionary advice -- and with the help of an expert -- you may determine that not only have you been slowly ladder-climbing, but you might actually be on the wrong ladder! I don't know about you, but I would rather find that out sooner rather than later, so that I could stop self-sabotaging and step more easily into my greatness.
There are several ways to benefit from the expertise of a mentor, some of which won't cost you a penny:
1. Start or join a mastermind group. Having the support of like-minded people who can look at your ideas with fresh eyes can be tremendously helpful. The caveat is to make sure it is a strong group with structure, that meets often and has a leader. Otherwise, they tend to turn into coffee klatches and can be real time-wasters. You don't need to meet in person. In fact, there are many good mastermind groups online where you can "meet" on a weekly or monthly basis. My own VIP Mentorship group is one of them and you can try it out for 2 months for fre*e.
2. Hire a coach or mentor that is affordable for your budget. Instead of thinking about what working with a mentor will "cost", look at the value that you will derive. For example, determine what you get paid on an hourly basis (or per sale) for what you do. Then look at what one good idea from a mentor would net you in increased sales or billable hours. You might not have budgeted for a coach but hopefully you plan every year for annual growth in your business. Implementing your business mentor's ideas can significantly add to your bottom-line. Using myself as an example, I doubled my client base in 8 months, solely from a coaching program I invested in last November. Do you think that was worth it? You bet -- plus now I can share those money-making ideas with my clients!
3. Work with a mentor by way of their home-study courses or small group teleclasses. These are always much less expensive, you can get their expertise on a very targeted basis, and you can pace yourself both time and investment wise. This is actually how I started working with both my coaches. It also gives you a really good flavor for how they work and whether their style of mentoring works for you.
In all cases, when engaging a mentor/coach or mastermind group, here is the due diligence you'll want to do:
ask for a "get acquainted" session with them, either in person or on the phone. This should be fre*e of charge and depending on the mentor, could range from 15 minutes to 1 hour
ask them exactly what results you can expect from working with them. If they say something like, "Well you know, I'll be coaching you. We'll meet every week on the phone, I'll give you advice and then you'll go do it" -- run the other way! If the person mentoring you doesn't have quantifiable clarity around how they'll help you, how are you going to make the necessary changes to move forward?
ask for testimonials and clients they've worked with before. You want to be sure that you aren't a brand new coach's guinea-pig. I know -- they all have to start somewhere, but that's not your problem!
attend one or more of their fre*e teleseminars. Virtually every good coach I know has weekly or monthly 1-hour seminars that are content rich and again, will give you an opportunity to sample their style. Be prepared for 10 - 15 minutes of self-promotion (after all, there's no free lunch) but you will very quickly learn who is giving really good content and who is just giving fluff
don't be afraid to be clear about your budget and find out how flexible their payment options are. Depending on the initial investment of their programs, there is almost always a monthly, 2-pay or 3-pay option.
I personally like to offer 100% money-back guarantees on all home-study courses (I know I'll get a lot of flak about this!) The reality is that a good coach knows that they will very seldom have to give refunds because they know their programs get results. However, giving prospects the comfort of knowing that they can return the product anytime within 1 year, goes a long way toward building a trusting relationship
As Anne McKevitt said in her interview -- today more than ever -- people want more honesty, not too much to read or digest, and no BS. She also brought up one very interesting point -- and that is that in networking or masterminding, many people only attend their own industry-related events. For example, a financial planner might do most of his or her education by attending events that qualify them for their continuing education credits. The downside of that is that they may never get those "fresh eyes" who can objectively take a look at what they're doing and suggest things that could raise their awareness -- and have a huge impact on their personal and business growth.
Need some help to figure out how to really focus in on implementing these things? Then be sure to go to my Events page to get more information about my Inside Every Woman There's a Millionaire® Tea Party. If you are not in our local marketplace, then click here to register for my small group 5-week teleclass.
[Editor's note: Karen is available to work with you one-on-one, to help you identify your niche and implement a step-by-step strategy to build your business and attract your ideal clients. Please email her at Karen@KarenDodd.com for more information.]
©2009 Karen Dodd International
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEBSITE? No problem! But here's what you MUST include:
Working with everyone from moms to millionaires, Karen Dodd helps you connect with your unique gifts and talents, ignite your passion, and take inspired action so you can Focus On The Dream(TM). To learn how you can start or move your business to a level that you've only dreamed of, register now for Karen's free articles at: www.Karendodd.com.
Thursday, July 30, 2009
Attract New Clients By Design
by Karen Dodd
In last week's article, I asked you to imagine waking up tomorrow morning to find that you have 3 new clients who are waving their hands and saying, "I'm ready to buy -- now!" They have self-selected, they are pre-qualified and are fully prepared to pay your fee or buy your product. You have attracted them, using a marketing system that works like a well-oiled machine and they have specifically sought you out because you are known as an expert in your niche.
What would this well-oiled "marketing system" look like, you ask. While it's impossible to go into a step-by-step discussion in this article, this would be a great time to probe a little deeper into the why, the how and the where of your marketing machine.
Let's start with why would you want to market. To attract clients and make more money would be the obvious answer, but I think that to market authentically, it goes deeper than that.
Just as each of us has God-given talents that define who we are and what our life purpose is, I believe we are obligated to share those talents with others. The only way of letting people know what we offer, is to market. Please do not confuse marketing with advertising. I know a lot of entrepreneurs -- the majority, actually-- who do all of their business through marketing, with no formal advertising whatsoever. I'm not saying you shouldn't advertise; I just want you to make that distinction, before we move on.
In the marketing world there are two basic types of marketing. One is called "push-through" marketing and the other is "pull through" marketing. An example of push-through marketing is just about everything you see on television that plugs a product or service. This method relies very heavily -- if not exclusively -- on advertising. Advertising can be expensive and unless you know what you're doing, it often does not provide the return on investment that a small business owner needs. It definitely doesn't work overnight.
Pull-through marketing on the other hand, is really what it sounds like. Due to your personality, your compelling marketing methods and your visibility, it's like extending a hand to a prospect who literally is looking for the lifeline you offer them. Through your marketing efforts, they see YOU as the way to avoid pain (less cost, less stress) or to achieve gain (time freedom, more income, more expertise).
In order to use pull-through marketing effectively, it's critical that you do 4 things:
1. Get 100%, undeniably, irrefutably, crystal clear on who your target market is.
The biggest mistake I see entrepreneurs make is they are afraid to narrow their niche, especially when they're first starting out. It's natural to want to be all things to all people because you're trying to get your business up and running and in the black as soon as possible, right? Wrong. This is one of those times when you want to "slow down to speed up." Take the time necessary to figure out exactly who your market is -- and in turn it will make the next steps a lot easier.
Mentoring challenge: Write a profile of your ideal client or customer. Give him or her a name, their age, where they live, their lifestyle, married, single....you get the idea. You're not always going to be able attract the absolute ideal client all the time, but aim high -- it will give you much more clarity with which to craft your marketing message. Later, when you get so busy you have to turn away business (yes, it will happen!) you will be much better able to prioritize which clients to work with.
2. Get really clear on what your ideal client's biggest problems are.
Again, clarity is critical because if you can't tell someone in 30 - 60 seconds why you and your product or service are the absolute best option to solve their problem, your lack of clarity will consciously or unconsciously affect their decision-making. What I often see happening in this area, is that you tell the prospect about your process rather than the desired outcome they can expect when they work with you.
Mentoring challenge: Write out your "60-second commercial" and practice it with a friend -- or ideally a mastermind buddy -- who will give you honest feedback.
Avoid using labels to describe what you do. Instead of telling someone you're an accountant, tell them what you can do for them that will make their life easier. Be crystal clear about what you offer and not only what's in it for them -- but why you are clearly the best person to serve their needs. If you are not sure what they need or why you're the one, you need to drill down until you are.
3. Mirror their motivators in your written, verbal and online marketing.
When you know who your ideal client is and what their typical biggest problems are, you are in an ideal position to mirror that back to them at every opportunity. This is not being manipulative; it is being helpful. Your prospects don't need more friends; they need the right person to solve their problems. Be sure to use the solutions you provide in your tag line, on your business cards, on your website...everywhere. When you know what motivates your ideal client you have real, usable and powerful information in the palm of your hands. Use it!
Mentoring challenge: Write down all the problems that your ideal prospect brings to you. Reflect back on real issues that have come up, and then write out exactly -- using their language -- what you would mirror back in your solution. Make sure that your marketing materials have all the components of what prospects will get by working with you, what makes you unique in what you do and weave in some examples of other clients you've worked with, that addressed this same problem.
4. What to do if you're not yet an "expert" in your field.
As an entrepreneur, do not discount the advantage of having a Ph.D in results. Yes, it would be nice if you had written a book or been interviewed on TV, radio and in newspapers -- but we all have to start somewhere. If you have chosen a particular niche, it is often because you had that particular problem and there was no one at that time, to help you with it. When you share your compelling story in your online or offline marketing, it very often draws them to you (pull-through marketing) and your solutions. On your website or in your brochure, ask questions like, "Do you find yourself struggling with...?" or "Are you frustrated by...?"
On a personal note, I have had clients work with me solely because when I related my story, it hit them so hard in their own heart, that they instantly were attracted to me and they knew I could help them. Never underestimate the power of an emotional connection with someone. As small business owners or independent associates, that's one of the edges we have over huge corporations.
Mentoring challenge:
ASK, ASK, ASK rather than tell, tell, tell! As I'm talking about marketing versus sales here, I mean this rhetorically. If you're not sure what I mean, go to my homepage at www.karendodd.com and see what the first thing is that jumps out at you?
Finally, it's virtually impossible to change and improve your marketing machine without help (otherwise you'd be doing it, right?) We all need the help of mentors or role-models. It's a cliche, but we don't know what we don't know.
Now you know Why you want to market and a little bit of the How, you need to implement the What. Find a marketing mentor or coach who fits your personality, and who can teach you their specific, step-by-step marketing system. You want to choose a coach you feel comfortable with, but remember -- you want someone who is going to challenge you, much like playing tennis with someone who is "better" than you. You can't continue doing the same thing and expect different results.
I know for sure -- that this hot and muggy morning, I definitely would have quit my Pilates routine had my personal trainer not been there to challenge and encourage me! Likewise, if someone isn't there to coach and guide you to better performance in your business, the more things will remain the same.
[Editor's note: Karen is available to work with you one-on-one, to help you identify your market niche and automate your marketing strategy, so you can work less and enjoy more income. Please email her at Karen@KarenDodd.com for more information.]
©2009 Karen Dodd International
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEBSITE? No problem! But here's what you MUST include:
Working with everyone from Moms to Millionaires, Karen Dodd helps you connect with your unique gifts and talents, ignite your passion, and take inspired action so you can Focus On The Dream(TM). To learn how you can start or move your business to a level that you've only dreamed of, register now for Karen's free articles at: www.Karendodd.com.
In last week's article, I asked you to imagine waking up tomorrow morning to find that you have 3 new clients who are waving their hands and saying, "I'm ready to buy -- now!" They have self-selected, they are pre-qualified and are fully prepared to pay your fee or buy your product. You have attracted them, using a marketing system that works like a well-oiled machine and they have specifically sought you out because you are known as an expert in your niche.
What would this well-oiled "marketing system" look like, you ask. While it's impossible to go into a step-by-step discussion in this article, this would be a great time to probe a little deeper into the why, the how and the where of your marketing machine.
Let's start with why would you want to market. To attract clients and make more money would be the obvious answer, but I think that to market authentically, it goes deeper than that.
Just as each of us has God-given talents that define who we are and what our life purpose is, I believe we are obligated to share those talents with others. The only way of letting people know what we offer, is to market. Please do not confuse marketing with advertising. I know a lot of entrepreneurs -- the majority, actually-- who do all of their business through marketing, with no formal advertising whatsoever. I'm not saying you shouldn't advertise; I just want you to make that distinction, before we move on.
In the marketing world there are two basic types of marketing. One is called "push-through" marketing and the other is "pull through" marketing. An example of push-through marketing is just about everything you see on television that plugs a product or service. This method relies very heavily -- if not exclusively -- on advertising. Advertising can be expensive and unless you know what you're doing, it often does not provide the return on investment that a small business owner needs. It definitely doesn't work overnight.
Pull-through marketing on the other hand, is really what it sounds like. Due to your personality, your compelling marketing methods and your visibility, it's like extending a hand to a prospect who literally is looking for the lifeline you offer them. Through your marketing efforts, they see YOU as the way to avoid pain (less cost, less stress) or to achieve gain (time freedom, more income, more expertise).
In order to use pull-through marketing effectively, it's critical that you do 4 things:
1. Get 100%, undeniably, irrefutably, crystal clear on who your target market is.
The biggest mistake I see entrepreneurs make is they are afraid to narrow their niche, especially when they're first starting out. It's natural to want to be all things to all people because you're trying to get your business up and running and in the black as soon as possible, right? Wrong. This is one of those times when you want to "slow down to speed up." Take the time necessary to figure out exactly who your market is -- and in turn it will make the next steps a lot easier.
Mentoring challenge: Write a profile of your ideal client or customer. Give him or her a name, their age, where they live, their lifestyle, married, single....you get the idea. You're not always going to be able attract the absolute ideal client all the time, but aim high -- it will give you much more clarity with which to craft your marketing message. Later, when you get so busy you have to turn away business (yes, it will happen!) you will be much better able to prioritize which clients to work with.
2. Get really clear on what your ideal client's biggest problems are.
Again, clarity is critical because if you can't tell someone in 30 - 60 seconds why you and your product or service are the absolute best option to solve their problem, your lack of clarity will consciously or unconsciously affect their decision-making. What I often see happening in this area, is that you tell the prospect about your process rather than the desired outcome they can expect when they work with you.
Mentoring challenge: Write out your "60-second commercial" and practice it with a friend -- or ideally a mastermind buddy -- who will give you honest feedback.
Avoid using labels to describe what you do. Instead of telling someone you're an accountant, tell them what you can do for them that will make their life easier. Be crystal clear about what you offer and not only what's in it for them -- but why you are clearly the best person to serve their needs. If you are not sure what they need or why you're the one, you need to drill down until you are.
3. Mirror their motivators in your written, verbal and online marketing.
When you know who your ideal client is and what their typical biggest problems are, you are in an ideal position to mirror that back to them at every opportunity. This is not being manipulative; it is being helpful. Your prospects don't need more friends; they need the right person to solve their problems. Be sure to use the solutions you provide in your tag line, on your business cards, on your website...everywhere. When you know what motivates your ideal client you have real, usable and powerful information in the palm of your hands. Use it!
Mentoring challenge: Write down all the problems that your ideal prospect brings to you. Reflect back on real issues that have come up, and then write out exactly -- using their language -- what you would mirror back in your solution. Make sure that your marketing materials have all the components of what prospects will get by working with you, what makes you unique in what you do and weave in some examples of other clients you've worked with, that addressed this same problem.
4. What to do if you're not yet an "expert" in your field.
As an entrepreneur, do not discount the advantage of having a Ph.D in results. Yes, it would be nice if you had written a book or been interviewed on TV, radio and in newspapers -- but we all have to start somewhere. If you have chosen a particular niche, it is often because you had that particular problem and there was no one at that time, to help you with it. When you share your compelling story in your online or offline marketing, it very often draws them to you (pull-through marketing) and your solutions. On your website or in your brochure, ask questions like, "Do you find yourself struggling with...?" or "Are you frustrated by...?"
On a personal note, I have had clients work with me solely because when I related my story, it hit them so hard in their own heart, that they instantly were attracted to me and they knew I could help them. Never underestimate the power of an emotional connection with someone. As small business owners or independent associates, that's one of the edges we have over huge corporations.
Mentoring challenge:
ASK, ASK, ASK rather than tell, tell, tell! As I'm talking about marketing versus sales here, I mean this rhetorically. If you're not sure what I mean, go to my homepage at www.karendodd.com and see what the first thing is that jumps out at you?
Finally, it's virtually impossible to change and improve your marketing machine without help (otherwise you'd be doing it, right?) We all need the help of mentors or role-models. It's a cliche, but we don't know what we don't know.
Now you know Why you want to market and a little bit of the How, you need to implement the What. Find a marketing mentor or coach who fits your personality, and who can teach you their specific, step-by-step marketing system. You want to choose a coach you feel comfortable with, but remember -- you want someone who is going to challenge you, much like playing tennis with someone who is "better" than you. You can't continue doing the same thing and expect different results.
I know for sure -- that this hot and muggy morning, I definitely would have quit my Pilates routine had my personal trainer not been there to challenge and encourage me! Likewise, if someone isn't there to coach and guide you to better performance in your business, the more things will remain the same.
[Editor's note: Karen is available to work with you one-on-one, to help you identify your market niche and automate your marketing strategy, so you can work less and enjoy more income. Please email her at Karen@KarenDodd.com for more information.]
©2009 Karen Dodd International
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEBSITE? No problem! But here's what you MUST include:
Working with everyone from Moms to Millionaires, Karen Dodd helps you connect with your unique gifts and talents, ignite your passion, and take inspired action so you can Focus On The Dream(TM). To learn how you can start or move your business to a level that you've only dreamed of, register now for Karen's free articles at: www.Karendodd.com.
Thursday, July 23, 2009
5 Ways To Shift The Way You Work
by Karen Dodd
Imagine waking up tomorrow morning to find that you have 3 new clients who are waving their hands and saying, "I'm ready to buy -- now!" They have self-selected, they are pre-qualified and are fully prepared to pay your fee or buy your product. You have attracted them, using a marketing system that works like a well-oiled machine and they have specifically sought you out because you are known as an expert in your niche.
On the personal side, you take a vacation at least once a quarter, you only work 4 days a week (so you make your own long weekends) and although you're working less, you're making more than you were when you were working seven-plus days a week.
Sound too good to be true? Sadly, this scenario is foreign to most entrepreneurs because they lack the clarity and focus to make it a reality. Those who do accomplish the time-freedom part, often do so at the expense of a better income. In other words, they just adjust their income needs down, in order to work less.
What would it take for you to have it all: the ever-increasing income, the free time to spend with those you love, and all the clients you need, whenever you need them?
The answer is that everything in life and business is about Marketing.When you are trying to find your soul-mate in life (or just a great date:>), it's all about marketing yourself. Likewise, when you're trying to find your dream job. Or you go to the bank with your business plan, to apply for financing. When your eighteen-year-old starts applying to colleges, she's marketing herself. You get the gist, right?
However...before marketing, comes Mindset.
Marketing is simply a step-by-step process, using certain proven principles -- which done consistently over time, produce desired results. It can be boring or it can be fun (I only do fun), but it is just a blueprint for accomplishing your business goals.
Mindset is the foundation on which those marketing principles are built. It is what defines your direction or sets your compass, for everything you do in life. How you do anything is how you do everything.
Here are 5 Master Keys to shifting the way you work, that will shape your mindset -- and thus lead to fun and productive marketing.
1. Think about how you are showing up in your business.
If you work from home, ask yourself: "Would I do the laundry, cook, watch TV or shop online if I worked in a corporation? Eliminate all your time-wasters -- all of them. Look at where you might be over-committed. Are you a chronic volunteer? I'm all for giving and contributing but are you giving time to needy causes when your business is needy? Are you volunteering in order to be filled up or to gain recognition, that you could be getting internally, from success in your business?Clear the decks and make room, time-wise, for only what you need to focus on at any given moment. Before every task, ask yourself, "Is what I am about to do, taking me closer to my goal?
2. Master the art of FOCUS and learn to work in the flow.
Structure provides freedom. I know that sounds like an oxymoron, but all successful people have designed systems for themselves, in order to achieve great things without becoming totally overwhelmed. By structuring your day and your week, you're training your mind to accomplish tasks faster, in shorter periods of time. Create consistent days or portions of days for things like marketing, business development, and client appointments. Working in the flow means that you work on one thing and one thing only, either until it's completed or the time you've allotted is up. Then you move on to the next thing.
Cluster all your appointments, product creation, or errands -- and do that one task all at once, rather than breaking up your day. Remember, every time you are distracted or lose focus, you delay the outcome that you desire. Have your mantra in front of you at all times: "Focus ONLY on (insert your project) Until Completion." Mine is taped to the top of my computer screen where I see it every second of every day.
3. Set new boundaries for yourself and others.
What would happen if you didn't check your emails until after 11am and not again until 4pm? Would any small children die or would your business self-destruct? What if you only returned or made phone calls between the hours of 2 and 4pm? Without you becoming rigid and autocratic, people will soon figure out that you are not available at their whim -- and will admire you for being focused. Once I finally broke down and set boundaries, several close friends and my spouse commented that I was more relaxed and fully present when I spent time with them.
4. Be mindful that money likes speed.
It's always about acting with speed and focusing on one thing only. As all procrastinators know, the longer you have to accomplish something, the longer you will take -- plus a day! So, start setting ridiculously short deadlines for yourself. Case in point: I am doing a live event in the Fall, that I moved up by one month. You can bet that I am totally focused on promoting, writing the content, delegating and hiring everything to do with that project. It consumes the allotted time every day, that I have set aside to make it happen.You obviously have to consider your temperament and ability to handle pressure -- you don't want to put yourself under such incredible stress that you become paralyzed or burn out. However, by using systems, structure, and getting help -- you can build a safe cocoon in which to get things done in record time.
5. Eliminate multi-tasking.
I know, I know....I can hear you gasp, what -- as women, we are wired to multi-task! That may be true with routine tasks that are familiar to you, like listening to your iPod while running. But, new research shows that multi-tasking and task-switching takes a tremendous amount of energy and actually causes our brain to come to a temporary halt. This is particularly true of higher brain functions that involve communication and learning. Examples would be answering an email while talking to a client on the phone, or reading an article while listening to a teleseminar. In these instances our brains prefer to concentrate on one task at a time and doesn't work well flitting from one focus to another. I tend to remember ridiculous analogies, so try to think of the last time you saw a winning jockey ride two horses across the finish line. It will never happen!
Here's this week's mentoring tip:
Take 10 minutes and write down:
all the time-wasters that you typically do in a day. Commit to getting rid of them today
get out your day planner or Outlook and map out consistent times every day to market -- and every week for business/product development, when you work with clients, etc.
what new boundaries you are going to set for yourself and others (that includes spouse, kids, friends, staff and clients) that will eliminate distractions or break your flow
create tools to help systematize your business (consider things like mind-mapping, project tracking sheets, etc.)
[Editor's note: as always, Karen loves to hear your feedback or answer any questions for you. Please email her at Karen@KarenDodd.com and you can definitely expect a response]
©2009 Karen Dodd International
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEBSITE? No problem! But here's what you MUST include:
Working with everyone from Moms to Millionaires, Karen Dodd helps you connect with your unique gifts and talents, ignite your passion, and take inspired action so you can Focus On The Dream(TM). To learn how you can start or move your business to a level that you've only dreamed of, register now for Karen's free articles at: www.Karendodd.com.
Imagine waking up tomorrow morning to find that you have 3 new clients who are waving their hands and saying, "I'm ready to buy -- now!" They have self-selected, they are pre-qualified and are fully prepared to pay your fee or buy your product. You have attracted them, using a marketing system that works like a well-oiled machine and they have specifically sought you out because you are known as an expert in your niche.
On the personal side, you take a vacation at least once a quarter, you only work 4 days a week (so you make your own long weekends) and although you're working less, you're making more than you were when you were working seven-plus days a week.
Sound too good to be true? Sadly, this scenario is foreign to most entrepreneurs because they lack the clarity and focus to make it a reality. Those who do accomplish the time-freedom part, often do so at the expense of a better income. In other words, they just adjust their income needs down, in order to work less.
What would it take for you to have it all: the ever-increasing income, the free time to spend with those you love, and all the clients you need, whenever you need them?
The answer is that everything in life and business is about Marketing.When you are trying to find your soul-mate in life (or just a great date:>), it's all about marketing yourself. Likewise, when you're trying to find your dream job. Or you go to the bank with your business plan, to apply for financing. When your eighteen-year-old starts applying to colleges, she's marketing herself. You get the gist, right?
However...before marketing, comes Mindset.
Marketing is simply a step-by-step process, using certain proven principles -- which done consistently over time, produce desired results. It can be boring or it can be fun (I only do fun), but it is just a blueprint for accomplishing your business goals.
Mindset is the foundation on which those marketing principles are built. It is what defines your direction or sets your compass, for everything you do in life. How you do anything is how you do everything.
Here are 5 Master Keys to shifting the way you work, that will shape your mindset -- and thus lead to fun and productive marketing.
1. Think about how you are showing up in your business.
If you work from home, ask yourself: "Would I do the laundry, cook, watch TV or shop online if I worked in a corporation? Eliminate all your time-wasters -- all of them. Look at where you might be over-committed. Are you a chronic volunteer? I'm all for giving and contributing but are you giving time to needy causes when your business is needy? Are you volunteering in order to be filled up or to gain recognition, that you could be getting internally, from success in your business?Clear the decks and make room, time-wise, for only what you need to focus on at any given moment. Before every task, ask yourself, "Is what I am about to do, taking me closer to my goal?
2. Master the art of FOCUS and learn to work in the flow.
Structure provides freedom. I know that sounds like an oxymoron, but all successful people have designed systems for themselves, in order to achieve great things without becoming totally overwhelmed. By structuring your day and your week, you're training your mind to accomplish tasks faster, in shorter periods of time. Create consistent days or portions of days for things like marketing, business development, and client appointments. Working in the flow means that you work on one thing and one thing only, either until it's completed or the time you've allotted is up. Then you move on to the next thing.
Cluster all your appointments, product creation, or errands -- and do that one task all at once, rather than breaking up your day. Remember, every time you are distracted or lose focus, you delay the outcome that you desire. Have your mantra in front of you at all times: "Focus ONLY on (insert your project) Until Completion." Mine is taped to the top of my computer screen where I see it every second of every day.
3. Set new boundaries for yourself and others.
What would happen if you didn't check your emails until after 11am and not again until 4pm? Would any small children die or would your business self-destruct? What if you only returned or made phone calls between the hours of 2 and 4pm? Without you becoming rigid and autocratic, people will soon figure out that you are not available at their whim -- and will admire you for being focused. Once I finally broke down and set boundaries, several close friends and my spouse commented that I was more relaxed and fully present when I spent time with them.
4. Be mindful that money likes speed.
It's always about acting with speed and focusing on one thing only. As all procrastinators know, the longer you have to accomplish something, the longer you will take -- plus a day! So, start setting ridiculously short deadlines for yourself. Case in point: I am doing a live event in the Fall, that I moved up by one month. You can bet that I am totally focused on promoting, writing the content, delegating and hiring everything to do with that project. It consumes the allotted time every day, that I have set aside to make it happen.You obviously have to consider your temperament and ability to handle pressure -- you don't want to put yourself under such incredible stress that you become paralyzed or burn out. However, by using systems, structure, and getting help -- you can build a safe cocoon in which to get things done in record time.
5. Eliminate multi-tasking.
I know, I know....I can hear you gasp, what -- as women, we are wired to multi-task! That may be true with routine tasks that are familiar to you, like listening to your iPod while running. But, new research shows that multi-tasking and task-switching takes a tremendous amount of energy and actually causes our brain to come to a temporary halt. This is particularly true of higher brain functions that involve communication and learning. Examples would be answering an email while talking to a client on the phone, or reading an article while listening to a teleseminar. In these instances our brains prefer to concentrate on one task at a time and doesn't work well flitting from one focus to another. I tend to remember ridiculous analogies, so try to think of the last time you saw a winning jockey ride two horses across the finish line. It will never happen!
Here's this week's mentoring tip:
Take 10 minutes and write down:
all the time-wasters that you typically do in a day. Commit to getting rid of them today
get out your day planner or Outlook and map out consistent times every day to market -- and every week for business/product development, when you work with clients, etc.
what new boundaries you are going to set for yourself and others (that includes spouse, kids, friends, staff and clients) that will eliminate distractions or break your flow
create tools to help systematize your business (consider things like mind-mapping, project tracking sheets, etc.)
[Editor's note: as always, Karen loves to hear your feedback or answer any questions for you. Please email her at Karen@KarenDodd.com and you can definitely expect a response]
©2009 Karen Dodd International
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEBSITE? No problem! But here's what you MUST include:
Working with everyone from Moms to Millionaires, Karen Dodd helps you connect with your unique gifts and talents, ignite your passion, and take inspired action so you can Focus On The Dream(TM). To learn how you can start or move your business to a level that you've only dreamed of, register now for Karen's free articles at: www.Karendodd.com.
Thursday, July 16, 2009
Are You Sitting On Multiple Streams of Income?
by Karen Dodd
A former coach and mentor of mine was famous for saying, "You've always got to have a big back- end."
The first time I heard that, I can tell you that what I envisioned wasn't pretty. In fact, it seemed like I'd been working forever to keep my back end, anything but big!
However, as I came to realize -- and now teach my clients -- having a back-end to your business is key, particularly if you ever hope to slow down and enjoy the time freedom that having your own business should bring.
Think of your main business as your front-end. For example, let's say you have a flower shop...that's what you do every day. In order to be a great florist, you have to have a passion and a lot of knowledge and expertise. Assuming you're already working at least five days a week in your business, the only way you can make more income is to work more hours or leverage your time and knowledge, to create additional income streams from what you already know. That would be your back-end -- which ideally, you want to be big (I know -- just put that nasty image right out of your mind!)
So, let's plug in what you do and see what a highly leveraged, big back-end could that look like.
1. If you like writing, you could write either a "real" book, or an E-book. An E-book is a quick, easy and virtually no-cost way to get your name out there. You can use it as a free gift to encourage people to visit your location or your website. Alternatively, you can sell virtually any type of E-book (with good content, of course) for anywhere between $19.95 and $69.00. In the example of the florist, she might write an E-book on decorating your home and flower-arranging for holiday entertaining. Or, how about teaching people how to make living wreaths rather than the usual store-bought, fake ones? Again, just plug in what you and your talents are and look for ways to share that with the public.
2. You could share or sell information by recording it. The quickest, easiest and least expensive way of doing that is to record your presentation and make it available via an mp3 file, delivered from your website, by email or in your ezine (like this one). You could also put it on CD's or DVD's and ship them and also make them available in your store or place of business. You Tube is also a great way to make short videos available free of charge, that in turn will direct viewers to your web and your other offerings. When I was learning how to knit, I would have given anything to see a demonstration as it would appear to me, if my knitting was in front of me. I found it very confusing trying to learn it from a book.
3. Hold a teleseminar or webinar. These are nothing more than online classes that you can either do live or pre-recorded. At the beginning, if you're nervous or you don't have a following of people to invite, you're better to pre-record it. That way, you can edit it or start over, until you get a little more experienced. I like doing them live because I like the instant gratification of feedback and participation. You can offer your seminars free, as a lead-in to something you'd like your audience to purchase in the future. Or, you can charge anywhere from twenty-five, to many hundreds of dollars for a series of teleclasses.
4. Interview an expert, get yourself interviewed, or write the Q&A for an ideal interview you'd like to do, and have a friend or assistant interview you. You can then distribute it by mp3, CD or put it in a Special Report to either give away free or charge for.
5. Offer to speak or teach classes at a local venue, appropriate to what you do. Many organizations, from non-profit to profitable businesses are always looking for great speakers or workshop leaders. For example, you might volunteer to teach scrap-booking at an art supply or handicraft store. A personal favorite of mine is to offer to teach regular workshops at the big-name bookstores like Borders or Indigo. You will probably be doing the classes for free but you will eventually get a following and you can send them home with your $20 CD, book, or have them enroll in one of your paid events.
You might be asking, "Karen, how does this create a big back-end -- when you're talking about giving things away for free or charging relatively small prices?
The key is "leverage." You only have to create these info products one time, you have them forever, and if done properly, they will generate a lot of income over time -- without you having to take take away from your main day-to-day business. In fact, many of the people I have mentored who started this way, actually had the info products part of their business take over, because it became more profitable and way more fun than being tied to their "traditional" businesses.
It is simply the difference between linear income and leveraged income -- a little like being able to buy a much more substantial house with the bank's money, versus what you have managed to save up yourself.
In the final analysis, from just one passion or piece of knowledge that you already have, you could conceivably create 7 streams of income, such as:
• an E-book or Special Report
• a published, traditional book
• a CD, mp3 or video (or all three)
• a series of articles that could be made into a course or teleclass
• a transcription of an interview that could then be used in a live or pre-recorded teleclass
• a "free" class or live event that you use to feed into your main (paid) offering
• all of the above, that could be packaged into a physical course (typically with CD's, workbook, etc.)
Don't think you have anything that you could generate great content from? Think again. I guarantee that you do!
Here's my coaching challenge to you:
Think of something you know, are passionate about, or is second nature to you. Then write 3 Tips For__________. Now, work on developing all or any of these tips...and Voila! You have your content.
With some imagination and perhaps the help of a coach or mentor, there is literally no limit to what you could have out there working for you, while you're doing your day-to-day business.Trust me, you do not need to be overly tech-savvy to learn how to do this. I find that when I share my Little Black Book of contacts and a bit of direction, with my clients -- they are able to start creating things they had never thought possible.
Question for you: how do you think you'd feel, sitting on a beach somewhere, sipping a Margarita, watching the orders come in over your BlackBerry or laptop? Whoopee! That can be YOU!
[Editor's note: as always, Karen loves to hear your feedback or answer any questions for you. Please email her at Info@KarenDodd.com and you can definitely expect a response]
©2009 Karen Dodd International
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEBSITE? No problem! But here's what you MUST include:
Working with everyone from Moms to Millionaires, Karen Dodd helps you connect with your unique gifts and talents, ignite your passion, and take inspired action so you can Focus On The Dream(TM). To learn how you can start or move your business to a level that you've only dreamed of, register now for Karen's free articles at: www.Karendodd.com.
A former coach and mentor of mine was famous for saying, "You've always got to have a big back- end."
The first time I heard that, I can tell you that what I envisioned wasn't pretty. In fact, it seemed like I'd been working forever to keep my back end, anything but big!
However, as I came to realize -- and now teach my clients -- having a back-end to your business is key, particularly if you ever hope to slow down and enjoy the time freedom that having your own business should bring.
Think of your main business as your front-end. For example, let's say you have a flower shop...that's what you do every day. In order to be a great florist, you have to have a passion and a lot of knowledge and expertise. Assuming you're already working at least five days a week in your business, the only way you can make more income is to work more hours or leverage your time and knowledge, to create additional income streams from what you already know. That would be your back-end -- which ideally, you want to be big (I know -- just put that nasty image right out of your mind!)
So, let's plug in what you do and see what a highly leveraged, big back-end could that look like.
1. If you like writing, you could write either a "real" book, or an E-book. An E-book is a quick, easy and virtually no-cost way to get your name out there. You can use it as a free gift to encourage people to visit your location or your website. Alternatively, you can sell virtually any type of E-book (with good content, of course) for anywhere between $19.95 and $69.00. In the example of the florist, she might write an E-book on decorating your home and flower-arranging for holiday entertaining. Or, how about teaching people how to make living wreaths rather than the usual store-bought, fake ones? Again, just plug in what you and your talents are and look for ways to share that with the public.
2. You could share or sell information by recording it. The quickest, easiest and least expensive way of doing that is to record your presentation and make it available via an mp3 file, delivered from your website, by email or in your ezine (like this one). You could also put it on CD's or DVD's and ship them and also make them available in your store or place of business. You Tube is also a great way to make short videos available free of charge, that in turn will direct viewers to your web and your other offerings. When I was learning how to knit, I would have given anything to see a demonstration as it would appear to me, if my knitting was in front of me. I found it very confusing trying to learn it from a book.
3. Hold a teleseminar or webinar. These are nothing more than online classes that you can either do live or pre-recorded. At the beginning, if you're nervous or you don't have a following of people to invite, you're better to pre-record it. That way, you can edit it or start over, until you get a little more experienced. I like doing them live because I like the instant gratification of feedback and participation. You can offer your seminars free, as a lead-in to something you'd like your audience to purchase in the future. Or, you can charge anywhere from twenty-five, to many hundreds of dollars for a series of teleclasses.
4. Interview an expert, get yourself interviewed, or write the Q&A for an ideal interview you'd like to do, and have a friend or assistant interview you. You can then distribute it by mp3, CD or put it in a Special Report to either give away free or charge for.
5. Offer to speak or teach classes at a local venue, appropriate to what you do. Many organizations, from non-profit to profitable businesses are always looking for great speakers or workshop leaders. For example, you might volunteer to teach scrap-booking at an art supply or handicraft store. A personal favorite of mine is to offer to teach regular workshops at the big-name bookstores like Borders or Indigo. You will probably be doing the classes for free but you will eventually get a following and you can send them home with your $20 CD, book, or have them enroll in one of your paid events.
You might be asking, "Karen, how does this create a big back-end -- when you're talking about giving things away for free or charging relatively small prices?
The key is "leverage." You only have to create these info products one time, you have them forever, and if done properly, they will generate a lot of income over time -- without you having to take take away from your main day-to-day business. In fact, many of the people I have mentored who started this way, actually had the info products part of their business take over, because it became more profitable and way more fun than being tied to their "traditional" businesses.
It is simply the difference between linear income and leveraged income -- a little like being able to buy a much more substantial house with the bank's money, versus what you have managed to save up yourself.
In the final analysis, from just one passion or piece of knowledge that you already have, you could conceivably create 7 streams of income, such as:
• an E-book or Special Report
• a published, traditional book
• a CD, mp3 or video (or all three)
• a series of articles that could be made into a course or teleclass
• a transcription of an interview that could then be used in a live or pre-recorded teleclass
• a "free" class or live event that you use to feed into your main (paid) offering
• all of the above, that could be packaged into a physical course (typically with CD's, workbook, etc.)
Don't think you have anything that you could generate great content from? Think again. I guarantee that you do!
Here's my coaching challenge to you:
Think of something you know, are passionate about, or is second nature to you. Then write 3 Tips For__________. Now, work on developing all or any of these tips...and Voila! You have your content.
With some imagination and perhaps the help of a coach or mentor, there is literally no limit to what you could have out there working for you, while you're doing your day-to-day business.Trust me, you do not need to be overly tech-savvy to learn how to do this. I find that when I share my Little Black Book of contacts and a bit of direction, with my clients -- they are able to start creating things they had never thought possible.
Question for you: how do you think you'd feel, sitting on a beach somewhere, sipping a Margarita, watching the orders come in over your BlackBerry or laptop? Whoopee! That can be YOU!
[Editor's note: as always, Karen loves to hear your feedback or answer any questions for you. Please email her at Info@KarenDodd.com and you can definitely expect a response]
©2009 Karen Dodd International
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEBSITE? No problem! But here's what you MUST include:
Working with everyone from Moms to Millionaires, Karen Dodd helps you connect with your unique gifts and talents, ignite your passion, and take inspired action so you can Focus On The Dream(TM). To learn how you can start or move your business to a level that you've only dreamed of, register now for Karen's free articles at: www.Karendodd.com.
Thursday, July 9, 2009
Are You Missing Marketing Opportunities?
by Karen Dodd
I have a confession to make -- sometimes procrastination serves you well. Let me tell you why.
I would ordinarily have had this article done and my ezine sent out earlier today. However, as days often do, mine completely got away from me. I was actually still pondering what I was going to write about, when I had to leave my home office to attend a cocktail party.
The party was being held for friends and associates of people who either own, or are interested in owning, recreational property at a beautiful golf resort in Arizona. We were very flattered to be invited by the people putting it on, the food and refreshments were great and we met some very nice people. Trouble was, from a marketer's perspective, it was a complete waste of time and money for the company hosting the event.
One would assume that if you're putting on an event at a well-known, expensive waterfront restaurant on a Thursday night, the hosts would not be holding this party for purely social reasons. The reason we were all there was to see and hear something that would motivate us to buy a vacation property and each tell our respective networks about it.
So you can imagine my surprise when a good hour and a bit into the party, none of the four representatives of the real estate development firm had come around to talk us -- nor had any kind of presentation begun. Eventually (as we were thinking of leaving, having eaten and drank more than our fair share) the gentleman who was the head of the contingency gave a very low-key overview (you couldn't even call it a presentation) of the project. No colorful slides -- even though there was a projector screen in plain view -- and no marketing materials to speak of, unless you made it a point to go pick a small brochure up from one of the tables.
Neither of two well dressed, very approachable ladies came to "schmooze" with any of us before, during or after the "presentation." Finally, they announced that two all expenses paid trips to visit the development were about to be given away.You'd think there'd be a drum roll, right? That's kind of exciting -- winning a paid-for trip to a beautiful resort. But no -- one person's name was picked at random (don't know what happened to the second give-away) and there was such little fuss made about it, that the woman who won, looked around the room, wondering if she'd actually won something significant.
In short, my husband and I -- though grateful that we had been invited -- were completely stymied as to the purpose of the event. This -- by all reports, sizable and reputable company-- had just lost a huge marketing opportunity.
My goodness, can you think of what you could have done with a small group of well-heeled professionals, whom you had gathered at an upscale waterfront bar and restaurant -- who presumably had come to hear about a buying opportunity? Especially given the dip in real estate prices, the opportunity for Canadians to purchase U.S. property right now, is virtually unprecedented. Had I not being drinking soda and lime, I would have thought I was a little tipsy and had maybe missed something.
Here are 4 things that you and I could have done to capitalize (tastefully) on this event.
1. Have the friendly, attractive people on your team meeting and greeting everyone.
We all know that people who have warm smiles and look good, are the ones who are always on the registration desk or are working the room. They are on the front-line for a reason. You never want things to be so laid back that guests just wander or mill around aimlessly. It is so easy for members of your marketing team to open conversations with questions like, "Mary, (we all had name tags on) had you ever heard of any of our developments before this evening?" Or how about, "John, I notice you were invited by one of our existing owners; how do you two know each other?"
2. People want to be led and shown the next step.
People come to any event, expecting to be informed or entertained -- and then to be shown the next step for them to take. That is not being pushy or aggressive -- it's just good marketing. We are all capable of making our own decisions and saying no, if we want to -- but you must explain to them the next logical step.
3.Institute some "drum roll-type" elements into prizes and promotions.
Build up the anticipation (this should actually have started with the invitations) and have some music or visuals like slide shows, that promote an air of excitement. Even when you desire to create a relaxed ambiance, you still want to have a feeling of energy in the room.
*A great measure of any party -- business or personal -- is the ambient noise in the room. If you were standing outside your own event, would you be curious as to why everyone sounds like they're having such a great time? Would the energy you hear, make you want to crash the party?
3. Have a clearly defined beginning and end of your marketing presentation.
Make a big deal about what you're about to say, before you say it, and most of all -- be respectful of your guests' time. People are at your event to hear your story. Assuming you pre-qualified your invited guests in some way, they came for a reason -- and usually it's not for free food and refreshments! In fact, by not telling your story, you are disrespecting them in a way. This is time that they could be spending with their friends and families.
4. If your event is a drop-in or open house between the hours of say, 5 and 8pm -- make sure that everyone who might leave early has heard "your story."
At the particular event I was at this evening, there were those of us who had been there since the beginning, who were starting to get a little antsy wondering if there was going to be a presentation. And then there were the poor lost souls who came later, and wondered if they were in the right place. If there is not a specific time for people to be there, you need to leave at least one of your greeters at the door, to welcome people.
5. Remember -- the fortune is in the follow-up.
I will be very interested to see if I get any kind of follow-up call from the event holder. I no longer make the assumption that I will, because I have been de-sensitized over the years, by lack of follow-up. The sad truth is that most sales people only follow up once (if at all) in yet the reality is that statistics show that people buy after an average of five to seven follow-ups. That doesn't mean that you have to hound people to death -- you can follow up in several different ways. One soft-sell approach that I teach my clients is, "Hi Sue, it's Karen Dodd here. I just wanted to give you a call and check in." From there, the conversation usually flows easily.
When you are in business, you always want to be marketing. That doesn't mean you have to be "on" all the time, or that you look at people with dollar signs in your eyes. But it does mean that you take your business seriously, that you are committed to telling your story, and that you never miss an opportunity to help lead someone to the decision that is right for them.
©2009 Karen Dodd International
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEBSITE? No problem! But here's what you MUST include:
Working with everyone from Moms to Millionaires, Karen Dodd helps you connect with your unique gifts and talents, ignite your passion, and take inspired action toward Focusing On Your Dreams(TM). To learn how you can start or move your business to a level that you've only dreamed of, register now for Karen's free articles at: www.Karendodd.com.
I have a confession to make -- sometimes procrastination serves you well. Let me tell you why.
I would ordinarily have had this article done and my ezine sent out earlier today. However, as days often do, mine completely got away from me. I was actually still pondering what I was going to write about, when I had to leave my home office to attend a cocktail party.
The party was being held for friends and associates of people who either own, or are interested in owning, recreational property at a beautiful golf resort in Arizona. We were very flattered to be invited by the people putting it on, the food and refreshments were great and we met some very nice people. Trouble was, from a marketer's perspective, it was a complete waste of time and money for the company hosting the event.
One would assume that if you're putting on an event at a well-known, expensive waterfront restaurant on a Thursday night, the hosts would not be holding this party for purely social reasons. The reason we were all there was to see and hear something that would motivate us to buy a vacation property and each tell our respective networks about it.
So you can imagine my surprise when a good hour and a bit into the party, none of the four representatives of the real estate development firm had come around to talk us -- nor had any kind of presentation begun. Eventually (as we were thinking of leaving, having eaten and drank more than our fair share) the gentleman who was the head of the contingency gave a very low-key overview (you couldn't even call it a presentation) of the project. No colorful slides -- even though there was a projector screen in plain view -- and no marketing materials to speak of, unless you made it a point to go pick a small brochure up from one of the tables.
Neither of two well dressed, very approachable ladies came to "schmooze" with any of us before, during or after the "presentation." Finally, they announced that two all expenses paid trips to visit the development were about to be given away.You'd think there'd be a drum roll, right? That's kind of exciting -- winning a paid-for trip to a beautiful resort. But no -- one person's name was picked at random (don't know what happened to the second give-away) and there was such little fuss made about it, that the woman who won, looked around the room, wondering if she'd actually won something significant.
In short, my husband and I -- though grateful that we had been invited -- were completely stymied as to the purpose of the event. This -- by all reports, sizable and reputable company-- had just lost a huge marketing opportunity.
My goodness, can you think of what you could have done with a small group of well-heeled professionals, whom you had gathered at an upscale waterfront bar and restaurant -- who presumably had come to hear about a buying opportunity? Especially given the dip in real estate prices, the opportunity for Canadians to purchase U.S. property right now, is virtually unprecedented. Had I not being drinking soda and lime, I would have thought I was a little tipsy and had maybe missed something.
Here are 4 things that you and I could have done to capitalize (tastefully) on this event.
1. Have the friendly, attractive people on your team meeting and greeting everyone.
We all know that people who have warm smiles and look good, are the ones who are always on the registration desk or are working the room. They are on the front-line for a reason. You never want things to be so laid back that guests just wander or mill around aimlessly. It is so easy for members of your marketing team to open conversations with questions like, "Mary, (we all had name tags on) had you ever heard of any of our developments before this evening?" Or how about, "John, I notice you were invited by one of our existing owners; how do you two know each other?"
2. People want to be led and shown the next step.
People come to any event, expecting to be informed or entertained -- and then to be shown the next step for them to take. That is not being pushy or aggressive -- it's just good marketing. We are all capable of making our own decisions and saying no, if we want to -- but you must explain to them the next logical step.
3.Institute some "drum roll-type" elements into prizes and promotions.
Build up the anticipation (this should actually have started with the invitations) and have some music or visuals like slide shows, that promote an air of excitement. Even when you desire to create a relaxed ambiance, you still want to have a feeling of energy in the room.
*A great measure of any party -- business or personal -- is the ambient noise in the room. If you were standing outside your own event, would you be curious as to why everyone sounds like they're having such a great time? Would the energy you hear, make you want to crash the party?
3. Have a clearly defined beginning and end of your marketing presentation.
Make a big deal about what you're about to say, before you say it, and most of all -- be respectful of your guests' time. People are at your event to hear your story. Assuming you pre-qualified your invited guests in some way, they came for a reason -- and usually it's not for free food and refreshments! In fact, by not telling your story, you are disrespecting them in a way. This is time that they could be spending with their friends and families.
4. If your event is a drop-in or open house between the hours of say, 5 and 8pm -- make sure that everyone who might leave early has heard "your story."
At the particular event I was at this evening, there were those of us who had been there since the beginning, who were starting to get a little antsy wondering if there was going to be a presentation. And then there were the poor lost souls who came later, and wondered if they were in the right place. If there is not a specific time for people to be there, you need to leave at least one of your greeters at the door, to welcome people.
5. Remember -- the fortune is in the follow-up.
I will be very interested to see if I get any kind of follow-up call from the event holder. I no longer make the assumption that I will, because I have been de-sensitized over the years, by lack of follow-up. The sad truth is that most sales people only follow up once (if at all) in yet the reality is that statistics show that people buy after an average of five to seven follow-ups. That doesn't mean that you have to hound people to death -- you can follow up in several different ways. One soft-sell approach that I teach my clients is, "Hi Sue, it's Karen Dodd here. I just wanted to give you a call and check in." From there, the conversation usually flows easily.
When you are in business, you always want to be marketing. That doesn't mean you have to be "on" all the time, or that you look at people with dollar signs in your eyes. But it does mean that you take your business seriously, that you are committed to telling your story, and that you never miss an opportunity to help lead someone to the decision that is right for them.
©2009 Karen Dodd International
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEBSITE? No problem! But here's what you MUST include:
Working with everyone from Moms to Millionaires, Karen Dodd helps you connect with your unique gifts and talents, ignite your passion, and take inspired action toward Focusing On Your Dreams(TM). To learn how you can start or move your business to a level that you've only dreamed of, register now for Karen's free articles at: www.Karendodd.com.
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