#16. “Examine & Challenge your Corporate Culture”

What typically happens when you reach the goals you set?
Hopefully; celebration, recognition, congratulations, analysis,
maybe even a short break… but then what?

Achieving goals is climatic but once a goal is achieved, without another set of goals to continue to pursue, it’s too easy to sit back and relish in what you have accomplished. A progressive thinking owner, manager or coach will have already begun working on the next step to keep that valuable momentum going.

Challenge yourself to stay focused, to always think ahead, to seek new innovative ways to perform and to never rest on your laurels.

Stop by again next Friday your weekly Business Builder. And for more on this particular topic, check out my article: “Don’t Let your Comfort Zone Become your Danger Zone” found here on my website… Larry

And Special Guest Larry Bitner!

I believe that each of us are cut out to do something special and meaningful in life. For some of us we discover that “special something” early, some find it later in life and unfortunately others never really find that unique contribution that they were meant to make. But we all have special talents & strengths that set us apart and in my mind Steve Stunt has found his true calling as host of The Entrepreneur Hour.

I will be featured on his show this Saturday, August 30 at 2:00 pm on 610CKTB when Steve and I will talk about Business Plans – a controversial topic to many. Typically, you are either totally committed to planning and couldn’t live without your Business Plan… or you just don’t see the point and can’t be bothered. No problem either way, but if I can influence at least one entrepreneur to consider the benefits of planning then I’ve done my job.

Steve and I will take a lighthearted look at the benefits of writing a Business Plan - what having a plan can mean to you, how it can help you better manage the risks associated with running a business, how to set one up and the impact it can make on your success… leaving the final decision to you!

To me, Steve’s greatest asset is that he is a “Connector”, right out of Malcolm Gladwell’s The Tipping Point, one of the reasons why I feel this radio show is such a perfect fit for him. Whenever I need a product, a service or a contact within a company and I don’t have a source, I know I can go to Steve for the answer, for a name and a strong referral.

The Entrepreneur Hour with Steve Stunt airs on 610CKTB, Saturdays at 2:00 pm and I will post an audio outtake from the program next week.

Planning is the cornerstone to building a successful business. Can you survive without one? Absolutely! People do it all of the time, but for more insight on the benefits, check out my articles: “Mapping your Success through your Vision & Mission Statement” and “The Four M’s to Successful Planning” both found here on my website… Larry

I am Canadian so it’s not surprising that I got pumped when I learned about hockey legend Wayne Gretzky’s advice to his friend Canadian golfer Mike Weir. Great advice from “The Great One” for anyone looking to change things up!

Wayne suggested that Mike consider the hockey tradition of growing a beard as part of his game plan in effort to adjust his mindset and fine tune his game focus heading into a recent tournament. Skeptics might shun the idea, passing it off as a hockey thing but I have personally experienced the power of mind over matter in finding a way to win.

As a minor hockey coach myself for 8 years, I experienced first-hand the difference that a physical change can have on players. At the time I was coaching a rag-tag travel team of underachievers for a somewhat passive & tired organization. The last thing our players looked like on the outside were winners and it had a huge impact on how they felt on the inside.

The transformation began at a tournament in Niagara-on-the-Lake, Ontario when our opponents from Brampton walked into the rink, past our players wearing pre-game uniforms sponsored by Pepsi with matching equipment bags and stick bags.
Man, they “looked” intimidating!

It completely deflated our guys. They all incorrectly assumed “these guys must be good” and it wasn’t until the third period, when we were down 5-3 that our players began to recognize that Brampton couldn’t skate, pass or shoot any better than us!
But man, they sure looked like they could.

With just minutes left to go we smartened up, scored three quick goals to go on to win 6-5, but more importantly, my coaching staff made a huge decision.

The next season we used our fundraising money to purchase pre-game outfits for our team. We figured the investment was worth at least one extra goal a game and we were right! We looked like winners, we felt like winners, the players actually expected to win every game and we went all the way to the Provincial Finals that year with much the same team as the previous year.

As a business owner, sometimes you need to resort to this same type of unorthodox thinking to breathe new life into a tired mindset or just to create a buzz that attracts attention.

Thanks Wayne, I may just consider growing a beard for the upcoming trade show!

Don’t take anything for granted. Sometimes the smallest adjustments can make the biggest difference. For more on the importance of change, check out my articles: “Finding a Way to Win” and “Attitude is Everything” both found here on my website… Larry

#15. “Your Ability to Deliver”

Customers watch and listen carefully to everything you promise. Having said that, your advertising (promises!) should always be geared to your ability to meet or exceed the customer’s needs and expectations.
(This is what we strive to achieve but…)
In our enthusiasm to impress a customer, it is so easy to make promises beyond our ability to deliver. While we don’t necessarily do it in a deceitful manner, we do run the risk of disappointing people and leaving a poor lasting impression that scars our reputation and will be transmitted endlessly through word of mouth.

Long term relationships can produce efficiency and profitability but to build relationships that stand the test of time, you need to know your limitations and be sure to under promise and over deliver!

Stop by again next Friday your weekly Business Builder. And for more on this particular topic, check out my article: “Delivering on Promises will Deliver on Success” found here on my website… Larry

Absolutely Everything You Need to Know to Get It Right
By Debbie Weil

My first 12 months of blogging have truly been a career altering experience but so much of what I have done thus far I have done on instinct, without formal coaching or direction.

The Corporate Blogging Book has accomplished two important things for me.
#1. It has confirmed that I am on the right path with so many of the things that I am currently doing.
#2. It has also provided a wealth of inspiration and new ideas that I am now in the process of implementing.

The Corporate Blogging Book is an easy read which I quickly devoured and I see it as a valuable resource to both the beginner as well as any blogger committed to continuous improvement. It covers every aspect of blogging addressing common questions & concerns, how to set one up, tips for writing an effective business blog and ways to measure your success.

Weil provides great insight into the blogging experience referencing notable bloggers such as:
> Technorati’s Dave Sifry, sifry.com/alerts
> Dallas Mavericks owner & entrepreneur Mark Cuban blogmaverick.com
> Marketer Seth Godin sethgodin.typepad.com
To mention just a few… Very inspiring!

For me, blogging provides an excellent & meaningful venue to document the work I do and to share my experiences. Blogging has become the cornerstone of my own marketing & communication strategy and The Corporate Blogging Book has been an incredible find.

Whether you are considering starting or improving your own blog,
check this book out today!

For more information on growing your business in new directions check out my articles: “Blogs, Wikis & Podcasts” and “Building your Brand and Increasing Share of Mind”, both found here on my website… Larry

Print version published by Penguin Group (USA) Inc. ISBN-9781591841258

To what degree are you controlling the outcome of your success?

Let’s apply some basic fundamentals to give you more control of your sales and cash flow. Once again, assuming a proactive position is always the best approach to take.

When you make the dangerous assumption that “everyone” needs your product or service without recognizing the subtle differences that come from Demographics and Psychographics, you minimize your ability to effectively speak to any of them specifically and effectively.

Keep in mind that there are two ways to stimulate cash flow. First, you can use advertising and promotion to generate more traffic. More traffic should equate to more sales. But second, you can increase the amount that each customer spends per visit. This can happen a number of ways, through in-store merchandising, by better educating the customer and by directing their attention to the full complement of what you have to offer.

Use the following Two Analysis below to better understand the relationship between what you are selling and what people are buying to more effectively manage the outcome of your sales.

1. Sales Analysis
What is the Number One reason for a customer to visit your business and what are they most likely to purchase? (Specifically!)
Note: You should analyze the patterns of your sales constantly.

By being able to differentiate your revenue channels between Primary (most popular), Secondary (significant but less popular) and Teritary (occasional or seasonal) you give yourself the power to more effectively communicate & direct your customers, predetermine what they will buy… and understand what else they will buy with your influence!

2. Market Analysis
Which specific market segment (or type of customer) comes to you most often, what do they typically buy and how much do they spend on average?
We are creatures of habit. By clearly understanding the specific types of customers that your products, services or even atmosphere attract the most, you are able to direct specific messages their way. Understanding customer behavior and buying patterns is the second important factor in managing the outcome of your success.

Knowledge is power so by understanding who comes most often and what they are most likely to buy you position yourself to direct the right message, about the right product or service to the right people, at the right time.
For example, it makes sense when you are slow to focus on reaching your Primary Customer (those most likely to come) and to talk about your Primary Product or Service (what they are most likely to buy).

Similarly, when you are already busy and can’t comfortably handle more immediate sales but want to promote future sales or open up new markets, this same understanding allows you to direct different messages to Secondary or Teritary customers (those less likely to respond) and talk about everything else that you offer! (and are less likely to sell)

Don’t make the mistake of generalizing. Pull things apart, understand how they work and why they do what they do. For more thought on the importance of analysis, check out my articles: “Trendwatching” and “Creating an Action Plan to Ensure your Success” both found here on my website… Larry

#14. “Make Time for Yourself”

A healthy “you” leads to a healthy business. Operating your own business can be intense and stressful so it’s important that you make time to step back on a regular basis to collect your thoughts, clear your mind, reflect on everything you’ve accomplished and enjoy the fruits of your hard work.

This can be creatively done in the form of a long lunch, an hour by the lake in-between appointments, joining a health club, closing your office door & turning the lights down or whatever works best for you.

When you make your own physical, emotional & spiritual needs ‘a priority’, you discover a new level of success.

Stop by again next Friday your weekly Business Builder. And for more on this particular topic, check out my article: “It’s Time for a Performance Assessment” found here on my website… Larry

You will always get what you’ve always got.

Profound words! In business there is indeed a fine line between benefiting from the efficiency of routine and knowing when it’s time to change things up.

Routine can deliver a number of positive benefits which include: increased productivity, quality control, consistency and predictability all of which have contributed to the proven success of franchise operations… and all of which can make you more successful & profitable.

For the customer, routine & consistency can result in familiarity & confidence which breed loyalty – “knowing what they can expect at any given time” which can have a positive impact on your sales.

So what is the best way to cross the line and initiate change without internally disrupting flow and externally alienating customers?

By establishing specific and measurable goals for your business and your projects; which you need to monitor on a regular basis, you position yourself to better recognize what is working… and what isn’t.

With your goals in place and keeping a close watch on your movement forward, be sure to set aside time on a daily basis to fine tune your delivery and performance. Small adjustments, improving execution and correcting problems as they arise are less noticeable & concerning to customers than waiting and implementing wholesale changes all at once.

And keep in mind that by waiting to address and correct problems & concerns, quality suffers and you position yourself & your staff to practice bad habits which become increasingly difficult to break.

I’ll leave you with Five Steps to Implementing Positive Change:
1. Vision-Driven Goal Setting
2. Monitoring your Performance
3. Continuous Improvement
4. Keep an Open Mind to New Ways & New Ideas
5. Create an Innovative Environment that Encourages Excellence

In a world that is constantly changing, none of us can afford to sit back and continue to do things “the way we’ve always done them”. For more thoughts on positive growth & change, check out my articles: “Performance Under Pressure” and “Promoting Leadership in your Growing Business” both found here on my website… Larry

Dealing with “Advertising Reps”

The moment that you “Open for Business” it seems that an army of enthusiastic advertising sales people come knocking at your door. They all bring exciting news of their incredible product that will reach your target audience… and lead to your good fortune!

While many of them will have a worthwhile advertising product or promotional opportunity that can make a difference to your business, just as many others are simply looking to get a sale and move on!

So let’s look at the best ways to deal with them and separate the good from the bad.

The past two Mondays I have talked about and the importance of combining Advertising, Promotion and Publicity in your Marketing Strategy and having a budget allocated to grow your business. I consider this an important staging activity to help you deal with ad reps & sales people to make the best decisions for your particular situation.

With a Marketing Strategy in place you can carefully examine each opportunity using the following criteria:
1. Its “Fit” with your type of business
2. It’s ability to reach the customers you are looking to attract (Your Target Market!)
3. How it complements the marketing approach that you are currently using
4. Its potential return on investment (ie: sales, exposure, credibility, etc.)

Even with the best opportunities, I never “get involved” without doing some investigating first. Invite the one’s that intrigue you most to come back for a second appointment and in the mean time:
1. Check out their product yourself and learn more about it… (and them)
2. Contact advertisers or participants to get their impression… (will they continue to participate)
3. Ask your customers if they are aware of it and what they think.

If the response is favourable, it may warrant further consideration and if it isn’t, you have done your due diligence and can confidently decline their offer.

If you are impressed but just don’t have enough in your budget to accommodate the cost, invite them back at the end of the year for another look and possible involvement next year. They wouldn’t be doing their job if they gave up without a struggle but the purpose of this exercise is to develop an understanding of what is best for you at this point in time.

The best decisions that you make as a business owner are those that you have researched & carefully examined. Return on investment should always be the cornerstone of the marketing tools that you select for your business.

Every decision, big or small, leaves an imprint and impacts the degree of success that you achieve. For more information on decision making, check out my articles: “Creating an Action Plan to Help Ensure Success” and “Delivering on Promises will Deliver Success” both found here on my website… Larry

#14. “Your Great Ideas Need a Great Strategy”

There are a lot of great ideas out there in the business community. It seems like every day someone new is making headlines or catching attention with a product, a service, a promotion or a new twist on an old idea.
So how do they do it? What makes an idea fly?

It’s the strategy! Your ability to map out the steps and resources necessary to make it happen… within a set timeframe, is critical. Attention to detail, realistic expectations and a customer-driven focus are all factors that determine the degree of success your idea will achieve.

Even mediocre ideas can attain phenomenal success when they are orchestrated properly. Remember, your most exciting idea is nothing more than a dream without a strategy so get to work today on setting things in motion.

Stop by again next Friday your weekly Business Builder. And for more on this particular topic, check out my article: “Developing a Business Idea” found here on my website… Larry