Small Business Minute #45- Branding vs Reputation

Small Business Minute #45 Branding vs Reputation

 

There’s a lot of time and energy wasted by small businesses on the whole concept of brand building So much of this noise can be traced back to the explosion of Social Media and if the truth be told, that’s all most of it is, noise.

To be honest branding any kind of service business has always been a challenge and is best suited to products. The exception to this is when a service business reaches a size and scope that no longer qualifies it as a small business. The primary factor is that most small businesses have difficulty defining what business they’re actually in and any attempt to develop a brand is a lesson in futility.

Think about how you react to certain businesses. There are many large organizations whereby you don’t have a personal relationship with anyone, yet you have come to trust their products or services because they have consistently lived up to or exceeded your expectation and you’re more likely to try a new offering from them. Contrast that now with a small business. Typically, you’ve met the owner and/or received a referral from someone who has. The distance from the top of the organization to you, is very short. It’s a personal relationship, their reputation. Continue reading

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Small Business Minute #44- Want More Sales? Follow Up!

Small Business Minute #44 Want More Sales- Follow Up!

One of the simplest ways to increase your sales closing ratio is by simply following up with your prospects in a timely manner.

All too often I encounter entrepreneurs who lament at how difficult business is or that they just don’t get sales even though they are pitching and quoting.

Digging a little deeper quickly uncovers one of the main reasons for their poor sales performance, they don’t follow up. It is estimated that 85% of sales contacts are never followed up.

When I enquire as to why they don’t follow up, I usually get the same answer- “I don’t want to bother them or come across as pushy’. To this I typically respond by saying “they asked you to quote, so a few follow up calls is not considered pushy, if done in a professional manner” Continue reading

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Small Business Minute #43- Wisdom Of The Ages

Small Business Minute #43 Wisdom Of The Ages

Successful people are always on the lookout for ways to improve themselves and their businesses. Unfortunately, with the advent of Social Media, there are now an overwhelming number of so called experts promoting the latest and greatest way to take you and or your business to the next level.

I get the sense that they believe that if they scream loud enough or post frequently enough, people will automatically assume that they are experts.

Rarely however, have these denizens of success achieved the level of achievement they proclaim that you can attain. Just because they say so, doesn’t make it so.

I like to say “that most of the people making money on the internet are those individuals selling you courses on how to make money on the internet”. Buy their book, sign up for their course, and you too will become successful. Continue reading

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Small Business Minute #42- Successful People Do The Hard Stuff!

Small Business Minute #42 Successful People Do The Hard Stuff

No one likes doing hard stuff. It’s far easier and requires far less motivation to do the things we like. Great concert pianists produce wonderful music in what appears to be an effortless manner. Top ranked Olympians appear to have superhuman abilities and successful entrepreneurs have an air of quiet self-confidence.

The one thing all these individuals have in common, is that they put in the time and effort required to develop and refine their skills. What we don’t see is the hours upon hours, year in, year out that the pianist has spent practicing at the keyboard. Nor do we see the Olympian training long before the sun comes up, when they’d rather stay in bed. Continue reading

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Small Business Minute #41 – Why Be An Entrepreneur?

Small Business Minute #41 Why Be An Entrepreneur

Why would anyone want to be an entrepreneur? Why would you want to have to constantly worry about getting business, hiring employees, making payroll, covering rent, dealing with grumpy customers, finding customers, firing customers, firing people, sending out invoices, collecting payment, marketing, fixing the computer, quoting on jobs, preparing presentations, working too hard, sleeping too little, meeting with lawyers, meeting with accountants, explaining to bankers, being rejected, losing customers, out guessing the competition, managing your time, trying to be creative, managing people, selling, being late, shipping, receiving, paying bills, getting home, getting home on time, prospecting, closing, reporting, profits, networking and deadlines?

On the other hand, maybe the question should be, Why the heck not? When done right, the freedom and rewards far outweigh the alternative.

I’m Greg Weatherdon and this has been your Small Business Minute.

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Copyright © Greg Weatherdon 2017

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Small Business Minute #40- If Not Now, When?

Small Business Minute #40 If Not Now, WhenSitting down with a cup coffee, you look at your financials and you realize your annual projections are not unfolding quite like you planned. Revenue is down, expenses are up and profitability is just a flicker on your Profit and Loss statements. You know that the longer you wait, the harder it will be to make up the shortfall. It’s time to step up your game and maybe even get outside your comfort zone. Because you know that if you don’t act now, things are just going to get worse.

“You already have a relationship with them, take advantage of it!”

So here are five things you can do to hit those goals and get the business back on track or to the next level. Continue reading

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