Why is it that when you run a small business, you feel guilty about having a break? Don't worry - it's not just you. It's me too and it seems to be all the small business owners that I speak to as well!
Maybe it's something to do with our upbringing that rewards us for working hard and not taking a break; perhaps we worry that things won't get done in our absence or that new customers won't come through the door; or possibly something else...
But, whatever it is, many of us do feel guilty about having a break from our business. Here's 5 reasons why you shouldn't feel guilty:
1) You actually (believe it or not) deserve it. Especially if you've worked hard all year. It's a good thing to reward yourself and keeps you motivated .
2) You'll be amazed how much better you'll feel after the break - you'll be refreshed and raring to go.
3) When you're on your break, it's also likely that new ideas will come to you - remember all those promises you've made to yourself to work 'on' your business, not 'in' it. Well now's your chance.
4) I'm always surprised whenever I leave my business that I seem to get new customers while I'm away. Maybe it's because you do a whole heap of work before going away to clear your desk that tends to come to fruition while you're away.
5) Finally, everyone else has a break so why shouldn't you?
If you're having a break this summer, make sure you go away and enjoy it and not feel guilty about doing so.
Tuesday, 29 July 2008
Sunday, 20 July 2008
How are you different from your competition?
Whenever I ask small business owners this question, I'm always intrigued by the answers I hear. From "cheaper" or "great service" to "we've been established the longest". I've even heard people naming their competition and insulting them. Let's have a look at some of these points:
Cheaper - if you're cheaper, ask yourself the question of why. It's very unlikely that I'm going to use all of your competitors, just to find out you're the cheapest one is it? Just because you are cheaper, there is absolutely no guarantee that's going to get you more customers and in fact if you are cheaper, you're going to have to get more customers. To give you an example - let's imagine your target is £100. If you charge £20, you would need 5 customers to get to your target. If however, you charged £50, you would only need 2 and if you charged £100 you would only need 1. When you're starting out, charge the same as most of your competition and then work on building your reputation so that you can put your prices up.
Great Service - to be honest with you, if I was going to use your products or service, I would expect you to have great service. This isn't good enough as a reason to stand out.
Been Established the Longest - so? I don't care how long you've been established as long as you can supply me with what I want and do so with great service. If however, your experience shone through, that might impress me.
Insulting your competitors - not a good idea. I'm not sure how willing I'd be to work with you if you had just insulted a competitor. You don't know who I know and for all you know, my best friend may be the owner of a company you're talking about.
So how can you stand out? The easiest and quickest way to stand out from your competition is to let your passion for your business shine through and strive to do your very best by your customers and your staff. Think about what you would get out of bed for in a morning without being paid and this is what your passion is - and this is how you stand out from your competition.
Cheaper - if you're cheaper, ask yourself the question of why. It's very unlikely that I'm going to use all of your competitors, just to find out you're the cheapest one is it? Just because you are cheaper, there is absolutely no guarantee that's going to get you more customers and in fact if you are cheaper, you're going to have to get more customers. To give you an example - let's imagine your target is £100. If you charge £20, you would need 5 customers to get to your target. If however, you charged £50, you would only need 2 and if you charged £100 you would only need 1. When you're starting out, charge the same as most of your competition and then work on building your reputation so that you can put your prices up.
Great Service - to be honest with you, if I was going to use your products or service, I would expect you to have great service. This isn't good enough as a reason to stand out.
Been Established the Longest - so? I don't care how long you've been established as long as you can supply me with what I want and do so with great service. If however, your experience shone through, that might impress me.
Insulting your competitors - not a good idea. I'm not sure how willing I'd be to work with you if you had just insulted a competitor. You don't know who I know and for all you know, my best friend may be the owner of a company you're talking about.
So how can you stand out? The easiest and quickest way to stand out from your competition is to let your passion for your business shine through and strive to do your very best by your customers and your staff. Think about what you would get out of bed for in a morning without being paid and this is what your passion is - and this is how you stand out from your competition.
Wednesday, 16 July 2008
Business Books I recommend
Quite a few people have been asking me recently what business books I would recommend. So here goes:
Get Clients Now by CJ Hayden - brilliant book giving a step by step guide of how to do your own marketing.
Getting business to come to you by Paul and Sarah Edwards - Great if you're stuck for marketing ideas.
Getting things done: The Stress-free Art of Productivity by David Allen - One of the best business books out there about how to manage your time.
Anyone can do it: Building Coffee Republic from our kitchen table by Sahar Hashemi - really good book on starting your own business that takes you through step by step what needs to be done.
Sales on a Beermat by Mike Southon - easy to read book, with some good tips.
You can't teach a kid to ride a bike at a seminar by Sandler - this book completely changed the way I did sales. Really good read.
The E-myth revisited by Michael Gerber - this one should be on everyone's bookshelves.
Book Yourself Solid by Michael Port - Great book to help you redefine what you do with some great marketing tips.
I'll add more business books as I read them.
Helen
Get Clients Now by CJ Hayden - brilliant book giving a step by step guide of how to do your own marketing.
Getting business to come to you by Paul and Sarah Edwards - Great if you're stuck for marketing ideas.
Getting things done: The Stress-free Art of Productivity by David Allen - One of the best business books out there about how to manage your time.
Anyone can do it: Building Coffee Republic from our kitchen table by Sahar Hashemi - really good book on starting your own business that takes you through step by step what needs to be done.
Sales on a Beermat by Mike Southon - easy to read book, with some good tips.
You can't teach a kid to ride a bike at a seminar by Sandler - this book completely changed the way I did sales. Really good read.
The E-myth revisited by Michael Gerber - this one should be on everyone's bookshelves.
Book Yourself Solid by Michael Port - Great book to help you redefine what you do with some great marketing tips.
I'll add more business books as I read them.
Helen
Monday, 7 July 2008
Why you should be promoting your business now
Speaking to many small business owners over the last few days, I know that quite a few of them are thinking about winding down for the summer right about now. The school holidays are coming up at the end of this month and I’m sure many people are thinking about going away during them.
The business – well they may look at a few emails or clear up some paperwork, but nothing serious will be going on. The pieces can be picked up in September when the kids go back to school.
Well, if you really want to have a successful business, I’m going to advise against that – you should be promoting now to get business in September. Otherwise you’re in danger of getting into the feast or famine situation.
In reality it takes a good couple of months from the time you start promoting to see business coming in and if you wait until September to start promoting, you’ll see the results in November or December rather than when you want them.
So, even though you may plan to wind down a little over the summer, doing a little bit of marketing may well pay dividends when it comes down to it…
The business – well they may look at a few emails or clear up some paperwork, but nothing serious will be going on. The pieces can be picked up in September when the kids go back to school.
Well, if you really want to have a successful business, I’m going to advise against that – you should be promoting now to get business in September. Otherwise you’re in danger of getting into the feast or famine situation.
In reality it takes a good couple of months from the time you start promoting to see business coming in and if you wait until September to start promoting, you’ll see the results in November or December rather than when you want them.
So, even though you may plan to wind down a little over the summer, doing a little bit of marketing may well pay dividends when it comes down to it…
Wednesday, 2 July 2008
What should you give away for free?
One of the questions that I'm often asked is should I give away information for free and if so, how much should I give away?
For years now, I have been giving away free information, but I remember being told by a Business Consultant about 3 years into the business that I gave away too much for free and I should scale back. So, promptly following his advice that's what I did - but what I found is that this didn't work for me. I found that in my business, giving away things for free enabled me to establish my expertise and make people aware of me, so I went back to doing that and I've taken this approach every since.
What I did scale back on though was how MUCH I gave away for free. Prior to my conversation with the Business Consultant, I used to give away most of my knowledge and now I have put some boundaries in place so that I know in my own mind what I'm happy to give away for free and what's not ok. When I meet someone who asks for some advice, I'll happily give away my time and information up to my boundary, but no more.
In terms of what you can give away for free, you could give away samples, free information (in the form of an e-book or a tips sheet), your time, a free audio recording (podcast) and so on. I would advise though sitting down and deciding in your own mind what you're ok to give away free and what you're not - then put this into practice and don't give away for free anything you're not comfortable with.
Then when you do decide to give something away for free, do so and don't begrudge it - just be happy that you've helped someone else out.
For years now, I have been giving away free information, but I remember being told by a Business Consultant about 3 years into the business that I gave away too much for free and I should scale back. So, promptly following his advice that's what I did - but what I found is that this didn't work for me. I found that in my business, giving away things for free enabled me to establish my expertise and make people aware of me, so I went back to doing that and I've taken this approach every since.
What I did scale back on though was how MUCH I gave away for free. Prior to my conversation with the Business Consultant, I used to give away most of my knowledge and now I have put some boundaries in place so that I know in my own mind what I'm happy to give away for free and what's not ok. When I meet someone who asks for some advice, I'll happily give away my time and information up to my boundary, but no more.
In terms of what you can give away for free, you could give away samples, free information (in the form of an e-book or a tips sheet), your time, a free audio recording (podcast) and so on. I would advise though sitting down and deciding in your own mind what you're ok to give away free and what you're not - then put this into practice and don't give away for free anything you're not comfortable with.
Then when you do decide to give something away for free, do so and don't begrudge it - just be happy that you've helped someone else out.
Wednesday, 25 June 2008
Should you blog?
Blogging has become very popular in the last few months and even the most non-technical of my clients are now talking about using a blog to promote their businesses. But, what exactly is a blog and should you set one up?
You’ll see lots of slight variations in what a blog is if you have a look, but I like to think of a blog (or a web-log) as an on-line diary, where you can record your thoughts, opinions and useful information. You can set one up for free using sites like www.blogger.com and getting started is fairly easy even if you’re not technically minded. Many people are also setting up blogs instead of a website too – you can’t blame them – it’s quick, free and you can add and change the content whenever you like!
Setting a blog up though is the easy part. Then you have to look after it. I updated my blog once a week, but many blogging experts would tell me that’s not enough. Ideally, you should be updating your blog three to four times as week. Granted your blogs don’t have to be long, but it’s still a time-consuming activity in your busy world.
And then there’s the problem of what to write about. I tend to get inspiration by talking to my clients and contacts and writing about something they’ve said that has interested me, but I have to admit that sometimes I sit there and think what should I write about this week? Having said that, if you write a newsletter or articles, there is absolutely no reason why you couldn’t post this on there. I also express my opinion about various things in the news or things that have annoyed me – being careful of course, not to betray confidentiality or give away any names!
The other consideration is whether you will get business from your blog. Well, you can certainly monitor whether or not it’s being read and where people have found out about your blog. But whether you’ll get business from it is another matter – what it does do is build your credibility as an expert within your field and give people an idea of what you’d be like to work with. People may very well decide to use your company as a result of seeing your blog – but don’t expect instant results.
Finally, you’ll also have to think about promoting your blog to make sure people actually see it – the blog will automatically be sent to search engines like Google, but often that’s not enough (as there are thousands of blogs out there). So, many people choose other ways to promote and tell people about their blog like adding their blog to their website and email signature and business cards to name, but a few.
So, should you blog? You should certainly consider it if you like writing and expressing your opinions and realise that a blog will help you establish your credibility rather than give you immediate customers. You also need to put it into your diary to update it on a regular basis so that you don’t forget – there’s nothing worse than a blog that has been set up 3 months ago and not updated since.
If, on the other hand, you hate writing; have no time to spare; and are not sure what to write about, I would say blogging is probably not for you and you should have a think about other methods to promote your business. Blogging should definitely be used in combination with other marketing methods and not in isolation.
Still not sure whether or not it’s for you…that’s fine. Go onto sites like www.blogger.com and have a look at some of the blogs that have been written – you can even search for blogs that are related to your industry. Don’t forget that you can post comments to blogs that interest you, so start doing this first. This will give you an excellent way to get your name out there and also decide whether or not blogging is for you.
Exceptional Thinking (http://www.exceptionalthinking.co.uk) gives help and advice to established small businesses on their marketing and to people setting up in business.
You’ll see lots of slight variations in what a blog is if you have a look, but I like to think of a blog (or a web-log) as an on-line diary, where you can record your thoughts, opinions and useful information. You can set one up for free using sites like www.blogger.com and getting started is fairly easy even if you’re not technically minded. Many people are also setting up blogs instead of a website too – you can’t blame them – it’s quick, free and you can add and change the content whenever you like!
Setting a blog up though is the easy part. Then you have to look after it. I updated my blog once a week, but many blogging experts would tell me that’s not enough. Ideally, you should be updating your blog three to four times as week. Granted your blogs don’t have to be long, but it’s still a time-consuming activity in your busy world.
And then there’s the problem of what to write about. I tend to get inspiration by talking to my clients and contacts and writing about something they’ve said that has interested me, but I have to admit that sometimes I sit there and think what should I write about this week? Having said that, if you write a newsletter or articles, there is absolutely no reason why you couldn’t post this on there. I also express my opinion about various things in the news or things that have annoyed me – being careful of course, not to betray confidentiality or give away any names!
The other consideration is whether you will get business from your blog. Well, you can certainly monitor whether or not it’s being read and where people have found out about your blog. But whether you’ll get business from it is another matter – what it does do is build your credibility as an expert within your field and give people an idea of what you’d be like to work with. People may very well decide to use your company as a result of seeing your blog – but don’t expect instant results.
Finally, you’ll also have to think about promoting your blog to make sure people actually see it – the blog will automatically be sent to search engines like Google, but often that’s not enough (as there are thousands of blogs out there). So, many people choose other ways to promote and tell people about their blog like adding their blog to their website and email signature and business cards to name, but a few.
So, should you blog? You should certainly consider it if you like writing and expressing your opinions and realise that a blog will help you establish your credibility rather than give you immediate customers. You also need to put it into your diary to update it on a regular basis so that you don’t forget – there’s nothing worse than a blog that has been set up 3 months ago and not updated since.
If, on the other hand, you hate writing; have no time to spare; and are not sure what to write about, I would say blogging is probably not for you and you should have a think about other methods to promote your business. Blogging should definitely be used in combination with other marketing methods and not in isolation.
Still not sure whether or not it’s for you…that’s fine. Go onto sites like www.blogger.com and have a look at some of the blogs that have been written – you can even search for blogs that are related to your industry. Don’t forget that you can post comments to blogs that interest you, so start doing this first. This will give you an excellent way to get your name out there and also decide whether or not blogging is for you.
Exceptional Thinking (http://www.exceptionalthinking.co.uk) gives help and advice to established small businesses on their marketing and to people setting up in business.
Tuesday, 17 June 2008
Why you should stick to one business idea
Something that’s really common amongst small business owners is running two or more businesses. I see people who own a massage therapy business also run a greeting card company or someone who owns a networking company who also own a florist and so on. Two or more businesses happen usually for one of two reasons:
1. Either the first business isn’t making as much money as the person would have liked and they believe another opportunity will be the one that will make it big, or
2. The first business is hard to get going and the business owner gets bored and frustrated with it. When the second idea comes along, it’s more exciting and interesting and the person’s motivation levels are rejuvenated again.
Or it could happen for a combination of these reasons. The problem occurs when the second business idea doesn’t meet expectations and then the business owner creates a third or even a fourth idea. I’ve met business owners who are running seven or eight business ideas and suddenly reach crisis point because they don’t know what they do anymore.
So, why then should you stick to one business idea? Perhaps, these people are right – maybe it does take two or three ideas before you make it big and isn’t it possible to be able to run several different businesses simultaneously?
Well, here’s the thing – and you may disagree here (all opinions welcome), but I’ve worked with hundreds if not thousands of business owners and I really, honestly can’t recall a time when I’ve seen two or more business ideas work simultaneously. The best and most successful businesses work when the business owner concentrates on one thing and one thing only.
But, I hear you cry – what about those people who are doing PR and training or coaching and management consultancy and are really successful? Well, I would argue that if you look closer at their businesses, you’ll find they are running one business in different ways. For instance, a PR professional that I know teaches PR, works on PR on a one to one basis with her clients and has e-books on her site about PR which she sells successfully. She’s even just branched out into offering workshops to teach PR professionals how to be successful. But, everything revolves around PR – if I was recommending this business owner, I’m very clear on what she does.
Also take the example of a successful coach who also does training. It’s not just any training though – it’s training involving coaching. She’s also involved in a coaching network and speaks on behalf of the Chartered Institute of Professional Development (CIPD) on coaching. Anyone who meets her knows she is a coach and knows how she can help them.
So, bearing that in mind – here’s my top 3 reasons why you should stick to one business:
1. Taking on a new business is the same as starting a new business.
Your new business will take time, effort, focus, motivation and possibly money to start up and get off the ground. You’ll need to give it at least 18 months of undivided attention and treat it like it’s your baby. OK, I’m absolutely sure you can do this…but, what happens to your first business while you’re doing this and what happens when you get bored of this new business idea or it doesn’t get off the ground as quickly as you want it to? Will you then start another business?
2. No-one will know what you do.
When people ask you the question of what do you do – what will you tell them? Will it be I do x and I also do y and sometimes I do z? Or will it be, I do x and here’s how it can help you? If you have two or more business ideas, believe me no-one will be quite sure what you do and how you can help them. If you don’t believe, try asking a few of your trusted contacts who will give you honest feedback…
3. Jack of all trades, master of none
One of the reasons that’s often given to me as a reason for not choosing just one business is the fear that they won’t be able to use all the skills they have. This is absolutely not true – just look at the PR and coaching examples above – they will use all their skills and much more. If you focus on one thing and take this one idea to the market in different ways, you’ll be amazed at the results and the difference.
OK then, if you already have two or more businesses what do you do? My first suggestion is to stop and decide which one of these businesses you’d really like to focus on – and then (brave step this), let go of all the other businesses and really throw your heart and soul into this one business. If you’re not sure which business you should focus on, get the help of a coach or a business mentor to help you.
And if you’re considering taking on another business – stop and really think about it. Are you sure that’s the best decision? Are you prepared to drop the other businesses you have and focus on this one 100%?
Think very carefully about taking on a new business – I know it’s exciting and improves your motivation, but it may only be a short time until you get bored with this one too and then are you going to be looking for that next big idea?
Exceptional Thinking (http://www.exceptionalthinking.co.uk) provides help and advice on marketing and business planning for small businesses and people starting up a business.
1. Either the first business isn’t making as much money as the person would have liked and they believe another opportunity will be the one that will make it big, or
2. The first business is hard to get going and the business owner gets bored and frustrated with it. When the second idea comes along, it’s more exciting and interesting and the person’s motivation levels are rejuvenated again.
Or it could happen for a combination of these reasons. The problem occurs when the second business idea doesn’t meet expectations and then the business owner creates a third or even a fourth idea. I’ve met business owners who are running seven or eight business ideas and suddenly reach crisis point because they don’t know what they do anymore.
So, why then should you stick to one business idea? Perhaps, these people are right – maybe it does take two or three ideas before you make it big and isn’t it possible to be able to run several different businesses simultaneously?
Well, here’s the thing – and you may disagree here (all opinions welcome), but I’ve worked with hundreds if not thousands of business owners and I really, honestly can’t recall a time when I’ve seen two or more business ideas work simultaneously. The best and most successful businesses work when the business owner concentrates on one thing and one thing only.
But, I hear you cry – what about those people who are doing PR and training or coaching and management consultancy and are really successful? Well, I would argue that if you look closer at their businesses, you’ll find they are running one business in different ways. For instance, a PR professional that I know teaches PR, works on PR on a one to one basis with her clients and has e-books on her site about PR which she sells successfully. She’s even just branched out into offering workshops to teach PR professionals how to be successful. But, everything revolves around PR – if I was recommending this business owner, I’m very clear on what she does.
Also take the example of a successful coach who also does training. It’s not just any training though – it’s training involving coaching. She’s also involved in a coaching network and speaks on behalf of the Chartered Institute of Professional Development (CIPD) on coaching. Anyone who meets her knows she is a coach and knows how she can help them.
So, bearing that in mind – here’s my top 3 reasons why you should stick to one business:
1. Taking on a new business is the same as starting a new business.
Your new business will take time, effort, focus, motivation and possibly money to start up and get off the ground. You’ll need to give it at least 18 months of undivided attention and treat it like it’s your baby. OK, I’m absolutely sure you can do this…but, what happens to your first business while you’re doing this and what happens when you get bored of this new business idea or it doesn’t get off the ground as quickly as you want it to? Will you then start another business?
2. No-one will know what you do.
When people ask you the question of what do you do – what will you tell them? Will it be I do x and I also do y and sometimes I do z? Or will it be, I do x and here’s how it can help you? If you have two or more business ideas, believe me no-one will be quite sure what you do and how you can help them. If you don’t believe, try asking a few of your trusted contacts who will give you honest feedback…
3. Jack of all trades, master of none
One of the reasons that’s often given to me as a reason for not choosing just one business is the fear that they won’t be able to use all the skills they have. This is absolutely not true – just look at the PR and coaching examples above – they will use all their skills and much more. If you focus on one thing and take this one idea to the market in different ways, you’ll be amazed at the results and the difference.
OK then, if you already have two or more businesses what do you do? My first suggestion is to stop and decide which one of these businesses you’d really like to focus on – and then (brave step this), let go of all the other businesses and really throw your heart and soul into this one business. If you’re not sure which business you should focus on, get the help of a coach or a business mentor to help you.
And if you’re considering taking on another business – stop and really think about it. Are you sure that’s the best decision? Are you prepared to drop the other businesses you have and focus on this one 100%?
Think very carefully about taking on a new business – I know it’s exciting and improves your motivation, but it may only be a short time until you get bored with this one too and then are you going to be looking for that next big idea?
Exceptional Thinking (http://www.exceptionalthinking.co.uk) provides help and advice on marketing and business planning for small businesses and people starting up a business.
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