Posts Tagged ‘business success strategy’

Emails…I don’t know about you but I get a slew of them everyday! Sometimes, trying to manage them all can be quite daunting.

What I would like to know is how do you manage your emails each day?

Don’t leave your response here…it’s time to travel the blogoshpere and visit your blog to read your best tip.

Just drop in the title of the blog post and a link to your blog.

Thursday I will post the link so everyone can travel around and read all the great suggestions.

If you are really serious about making more money then listen up ladies.

You must stop undervaluing your time by spending it in ways that are so far below your skill level they are practically underground. You know what I mean here…the house work, laundry, errands, futzing around with your website, book keeping.  The list is endless.

If you want to make $100, $200 or even $300 or more then you must stop doing those types of tasks.

But how do you know what to delegate first?

Here ‘s a quick list and few tips to help you get started:

1.  Household chores, including running errands, house cleaning, laundry, cooking,  and food shopping to name a few.

2.  Business tasks such as answering emails, invoicing and paying bills, balancing the checkbook, ordering supplies, setting up conference calls and teleseminars, and publishing your newsletter are just a few of the tasks better delegated to your assistant.

Tip #1: Stop Bartering!  When you barter it sends a message of not valuing what you do or how much your worth.  Energetically it sends the wrong message – the message of limitation and lack.

Tip #2: Eliminate (fire) any clients that don’t meet the criteria on your “A” list.  We all have our ideal client in mind…start getting rid of those clients who don’t meet your ideals.

Tip #3: If you want to be a six or even seven figure business owner then you need to start thinking like one.  Ask yourself this question:  “How would a six or even seven figure business owner spend the next hour?  How would a six or even seven figure business owner handle this situation?  How would a six or even seven figure business owner delegate?”

Choose one of these simple ways to start valuing your time and implement it starting today!  Don’t delay – your six figure business is just around the corner!

Good Tuesday to all you hard working women entrepreneurs.  I am looking for your best tip on how you successful keep yourself organized when you’re running your business from home.

We all have our own way of doing things and I know I love my system but I’d be willing to bet all you creative women out there have some pretty amazing rituals or habits that keep your business running smoothly!

So go ahead and post your best tip here!  I’ll be posting the results tomorrow.

“Let me think about it.”  Ugh…those are dreaded words to someone attempting to make a sale and gain a new client.  Designing your payment plan options can make or break how many people actually say yes to your offer.

This applies to offers you make through service offerings, programs and even products you may sell on your website or store front.  So let’s look at a few simple tips to help your clients say “yes” to you!

Payment Strategy #1:  Offer a Great Incentive for Paying In Full

I have seen this happen over and over again.  Clients will pay in full in order to save money or get some juicy, high valued, special bonus I‘m offering!

For example in my new 2010 Money and Mindset Mastermind, clients will receive a special “preferred client” bonus day with me to map out their business plan in addition to a generous savings of $1000 if they pay in full!  That is an incentive that I know will not only compel my clients to sign up for the program but to also choose the full pay option.

Payment Strategy #2:  Try to Have All Those Juicy Bonuses Add Up To More Than The Original Service Being Offered

In this day and age your clients expect more, much more.  So when deciding on your bonuses make sure the bonuses you are offering are compelling to your clients.  Don’t just throw a bunch of stuff together that no one would want and expect your clients to jump for joy at all the extra’s you are offering.  Second, try to have them add up to more than the initial offering.  Lastly, offer a bonus that can’t be bought separately to really compel your clients to sign up for your offer.

Payment Strategy #3: Create A Reason Why Your Clients Should Say Buy NOW Instead of Later

For some reason most of you reading this probably think that giving a long amount of time for your clients to say yes to your offer is much better than a shorter amount of time.  Actually, the opposite is true!  Human nature dictates that the longer you give someone to make a decision the MORE likely they are to say no.

Keep the dates short and your marketing activities longer to build the excitement around the offering so that people will say “yes”.

There are so many pricing strategies that you can use but start with these three simple tips and you will be adding more income to your bottom line while keeping your clients thrilled at the difference you are making in their lives!

I recently had a consultation with a women business owner who wanted to move her business from frustrating 5-figures and into the 6-figure mark.  She was pretty clear in her money goal and seemed very determined to make it happen. I had to ask myself…

Is it Doable?

Absolutely!

Is it doable with the plan she had?

Absolutely not.

So many business owners create good solid goals and then take haphazard action, constantly led astray by another bright idea or strategy that someone dangles in front of them.  Or possibly they sit back and think that by “using” the Law of Attraction it will miraculously be delivered to them…plop right into their lap.

Here is the truth:

You must take the RIGHT action in the RIGHT way at the RIGHT time while keeping a clear and positive mindset about what you want to achieve.  This combination will catapult you forward to your goals and nothing else!

Sound tough?  Well imagine having to go and work for someone else again in a JOB…ugh the very thought makes me cringe!  You have already invested time, resources and your sanity to making your business work.  So how do you make it happen and stick to the plan you developed?

My Coaches Request:

1.  Sit down and revisit your goals for 2010. Haven’t developed any?  Well get cracking on that task.  Review the questions below.  Your answers will help you create your goals for 2010.

• What’s working in my business?
• What’s not?
• What action(s) would take me closer to my commitments in the next 90 days?
• What opportunities exist right now?
• What new strategy(ies) could I implement so I can reach these goals?

2.  Determine if your goals are realistic given where you are currently and your action steps. For example, consider how you plan on bringing in revenue for the year, what program, services, or products are you launching in 2010 and what marketing strategies are you planning on implementing in the year?

3.  Next revise your goals or the plan to achieve them or maybe both so that they are in total alignment with your vision…oh, and make sure they are doable. I like to tell my clients that when developing goals you need to feel the friction between too hard and too easy…that place in between.  When you find it, that is where your goal should be.

4.  Take action right now!

Want to make sure that you are formulating the RIGHT goals, at the RIGHT time, in the RIGHT order?  Call me at 978-794-4991 or email me at maureen@daretobephenomenal.com for a strategy session to see if I can help you formulate the right plan!  It’s a simple, easy and cost effective way to make sure you are on the right track!

Successful business owners will tell you that having a well thought out marketing strategy is crucial to their overall success.  Developing the plan doesn’t have to be a daunting task if you follow these components.

1. Proper Positioning

Positioning is the most important element when developing your marketing plan.  Positioning is the process by which you create an image or identity in the minds of your customers each time they experience your product or service.   Generally speaking positioning involves several steps; but in a nutshell it boils down to ensuring you are offering what your customers want with the most profitable market opportunity while differentiating your product/service from the competition in such a way that customers will choose your product or service.   To sum up, positioning is putting the right product at the right price in front of your target market.  When you have done this, you have mastered positioning.

2. Survey Your Customers

Don’t know what your customers want?  The best way to get the information that can propel your product or service forward is to ask your customers.  You need to understand clearly your target market if you have any chance at appealing to them to buy your products or services.  Surveys, samples, and test markets are great ways to get the feedback you need.  The feedback you get from your current customers or potential customers is priceless and will help you evaluate the integrity of your product, whether or not it’s in line with you branding, if the pricing strategy is correct and whether or not the quality of the product meets your customer’s expectations.

3. Tap Into The Power of Your Mastermind

Mastermind programs are one of the most powerful programs a person can participate in.  Why?  Because you get to leverage other people’s expertise and information and that is always better than trying to go it alone.  Your mastermind participants have probably had similar situations when developing their own marketing plans and even if they haven’t, they are a wonderful resource for ideas, perspectives, and experiences.  Having this resource to brainstorm with and to solve your biggest business challenges is the greatest benefit of a mastermind.  The synergy created between the members of the mastermind is the fuel that creates powerful results.  If you are not part of a mastermind I encourage you to investigate it and see if it doesn’t help you achieve the goals you set for your business.

4. Create Your Plan

A marketing plan is an essential element in your business and its overall success.  So many women business owners fail to create a marketing plan that it is no wonder that there scattered marketing attempts fail to yield them the results they are looking for.  Your plan doesn’t have to be complicated or complex to be effective.  I teach my clients an effective and simple marketing strategy that gets them the results they are looking for.  Remember simple is better and will be more effective.

5. Measure and Track Your Results

You know the saying if you don’t know where you are going how will you know when you get there?  The same is true of your marketing results.  If you don’t have the plan in place how will you know if you have achieved the results you are looking for.  You must track your results to see if you’re yielding the desired outcomes.  How will you measure the results of your plan?  Some ways this can be accomplished is by:  tracking open rates from your newsletter or other email marketing campaigns, how many unique visitors visit your website, increased signups for your newsletter, increased calls for new business, your return on investment vs what you spent.  Only you can determine what activities you want to engage in.  Just remember to know precisely the results you are looking for when developing your plan.

While we all recognize that a complete economic turnaround is still a few months away, smart women business owners are taking control of their money right now  by implementing strategies so that they can make more and keep more.

The sooner you take control of where your money is coming from and how much you keep the better off you are as the economy takes that upward climb and emerges from this economic cycle.  What’s the trick?   To take an active role in ensuring you are creating the income that you want from your business, as opposed to sitting back and passively waiting for money to fall into your lap or for “things to change”.  So here is 5 simple tips to help you get a handle on your cash flow right now so that you are in control of your money and cash flow destiny!

1. Know Where The Money Comes From

Do you know where your money comes from?  Do you have multiple streams of income or are you reliant on just one?  If you have only one stream of income I suggest that you start to look at ways to increase your revenue streams.  If you are a coach or consultant and currently only offer 1- on -1 services it may be time to look at creative ways to bring in more money.  You could develop a group coaching program or mastermind.  This will dramatically increase your revenue with very little additional effort on your part.

2. Value and Pricing Go Hand In Hand

Most business women undervalue their products/services.  I bet that when you started your business you looked to your competition to determine the price…am I right?  The problem with this is most business owners undervalue and under price themselves so you perpetuated that same mistake.  Take a look at your current prices.  Is it time for a review?  Probably!  Find a way to offer greater value to your clients for a higher price and everyone wins.   I just did this and it’s why my next mastermind program will never be the price it was ever again!

3. Track Your Income Daily!

I learned this trick from my mentor and I have to say it works and it works brilliantly!  This is so easy and you are going to love it!  Every day I track how much money I brought it from every income stream.  I use an excel spreadsheet to accomplish this task, but simple paper and pencil will do the trick.   At first you may think that you don’t bring in enough money to track it, but don’t worry that will all change over time. When you pay attention to money in this positive, abundant and grateful way more of it will flow to you faster and faster.  Everyone that I know that has used this trick reports making more money faster than they ever dreamed possible.

4. Know Your Hot Button Money Issues

We were all raised with certain beliefs about money.  These beliefs came from what we learned from our parents.  Most of these limiting beliefs and old values just don’t serve us any longer but many people don’t know how to rid themselves of the past.  Don’t worry, this is totally normal and you can do something about it.  Many women business owners discount their services.  Discounting tells me that you have a fear about what your clients can afford so in order to make yourself feel better and in the hopes of making a sale, you discount.  I recommend checking out my next group coaching program launching in January 2010.   The Money and Mastermind Group Coaching Program:  How To Bust Through Your Money Roadblocks AND Solve Your Biggest Pricing Challenges! will help you shift your mindset and free yourself from those limiting money beliefs so that you can transform your business and daringly charge what you want and get it!

5. Get  Help Where Needed

More times than not I meet women entrepreneurs who have no idea what their cash flow looks like.  Why?  Because they don’t have a handle on their books.  I hate doing my books that’s why I have someone else do them for me.  This way I always know how much I have coming in and how much I have going out the door.  My expenses are at my fingertips which allow me to make informed decisions about expenditures.  It also helps me to know if I am on track or not in reaching my money goals.  If you hate bookkeeping as much as I do, do yourself a favor and hire someone to take care of this for you!  You won’t regret it.

Having Control Over Your Money Simply Means Finding Creative Solutions To Your Situation

Follow these simple tips to have the control necessary to make more money.  Remember it need not be complicated.  Look at what works and what doesn’t and be willing to make the changes.  Keep it simple and it will be effective!

Once upon a time you dreamed of a carefree life as an entrepreneur.  You saw the vision of a business where you would satisfy all your clients needs, make tons of money and live the lifestyle of freedom and joy…..wait a second, stop the presses…the reality is hauntingly different.

Now don’t get mad or upset.  I know that you are working your tail off sometimes 12-14 hours per day to turn that dream into a reality.  You eat, sleep (when you do) and think about your business 7 days a week with little return on the investment and a ton of anger to show for it.  But let’s take a step back and really look at what it takes to turn that hobby into a business so you CAN have the business you always dreamed of.

Today Is That Day

Right now in this moment you have a wonderful opportunity to closely examine what it takes to have a successful business.  Here are five action items that you can implement right now so that you can make the transition from a hobby to a business:

1.     Develop a Business and Marketing Plan

When you decide to start a new hobby you don’t need to sit down and write out what you’re going to do and how you are going to do it; you just go out and get your supplies, set up a card table in the basement or spare room and start.  If this sounds like how you started your business, let me explain why this was a BIG mistake.

You want to be successful don’t you?  How will you know if you are?  By writing out your business plan you are taking the necessary steps to plan out your course of action; to identify the goals that indicate you are on the right track.  Without the plan how will you know that you are making the necessary gains in your business that you desire?

So many business women hate marketing but I am sorry ladies it is necessary to develop a marketing plan.  Pick two or three marketing activities and make the commitment to do them consistently.  The activities can range from attending at least one networking event each week to writing a newsletter.  No matter what activities you choose, do them consistently to see results.

2.    You Act Like You Are In Business

There are a couple of really important issues that fall under this heading of “acting like you are in business”.  The first I would like to point out is you have a business email that is tied to your website or domain name.  For example, maureen@daretobephenomenal.com instead of using a generic email address such as yourname@gmail.com. See the difference?  In the first example you know I have a legitimate business, the other, well you’re not so sure.

Second issue is you have branded yourself.  You have a distinct look and feel.  When you brand yourself with colors, taglines and logos you begin to stand out in the crowd.  All of your marketing material must have a cohesive look and feel to them, if they don’t, begin to work towards branding yourself.

Finally, you are treating your personal and business financial accounts as separate; you are not mixing your money.  If you are not doing this now, please go and seek the help of a quick books expert or bookkeeper who can help you separate your accounts so that you clearly know what you are spending and taking in on your business.

3.    Show Me The Money

Here is the plain hard truth…if you are not making any money than you have a hobby and not a business.  Your business needs to be making money or at least be on its way to profitability.  You can’t continue to live on your savings account forever,  and racking up credit card debt to run a business is extremely risky particularly if you own your own home.  Your business won’t survive for very long if you can’t bring in clients and turn a profit.

4.    You Have A Support Team

Part of the trap that many business owners fall into, is they spend many hours a week working in their business instead of on their business.  They do tasks that would be better done by someone else.  You have special talents and skills that bring in the revenue for your business.  If you are spending your time cleaning the house, managing the books,  or managing your data base then you have less time to go out and procure clients.  Find a VA, housecleaner or personal assistant to help you; learn to delegate!

5.    Learn, Learn, Learn

As I mentioned in my opening article, investing in yourself is the biggest gift you can give yourself.  I have two coaches and belong to a mastermind program with a different group of people.  I made a commitment to myself that if I wanted to make my business successful I knew I would have to make the time and monetary sacrifice to make it happen.  If you are struggling with your business or know deep in your soul that all you have is a hobby, I encourage you to consider hiring a coach, mentor or joining a mastermind so that you can turn that hobby into a thriving business.

My challenge to you this week is to take a good, hard look at your business and pick one area to work and improve on.  Make a goal and outline the steps that are necessary for you to achieve success.

When you close your eyes, and envision what you business will look like in a year; three years and beyond; what do you see?  Is your mind filled with doubt that you can’t build a successful six-figure business?  Do you find it hard to see clearly what your business will look like next year and the year after that?  If you answered yes to these questions this simple secret will help you get clear and focused so that you can have that six figure business you desire.

Read on to get the all the details!

Many women entrepreneurs are filled with fear and doubt. They feel that are not worthy or good enough to make their business successful.  They mistakenly believe it can’t be that easy to have success.  Or, if they start to experience success they fear they won’t be able to handle it.  Does of any of this sound like you?

I want you to remember that fear and doubt is not what is TRUE about any situation. Ok, I hear you saying, “but I feel fear!”  Your right, you are feeling fear and  I am not suggesting that you stop feeling a feeling; that’s just not possible.  But what I am suggesting is that you stop and reboot your mind and tell yourself “IT IS NOT TRUE”.  When you experience fear or doubt consider reciting the following statement:  “I’m feeling (fear/doubt) but I don’t believe it to be true just because I feel it.”

Try this exercise and feel the results:

1.  Close your eyes and vision something specific you want in your business.  Maybe it’s to make a certain amount of money or to get a specific number of new, ideal clients.  Whatever it is, vision it.   Do those old doubts and fear creep in when you think about what you want?  That’s ok, it’s totally normal as you begin to train yourself into a new way of thinking and believing.

2.  As you are face to face with those doubts and fears notice how it makes you feel and where in your body you feel it.  Now say to yourself:  “This is not true. There’s that feeling. It’s just not true.”

3.  Next go back to your vision and identify what IS important to you.  Remember what it is you want so much. Notice how it makes you feel inside; joyful, exhilarated, excited about the possibilities.  Stick with that feeling! Realize that you have a choice in how you will feel and how you will move forward in your beliefs and actions.  When you realize this, the possibilities become endless.  You understand what was possible once is possible again and again.  It all lies in your ability to switch on your empowering belief system coupled with choosing the actions that will move you forward.

When I was filled with doubt and fear it had a paralyzing effect on my life and my business.  Once I learned how to rid myself of the thoughts and beliefs and replace them with an empowering mindset I quickly remembered I had many successes in my life from which to recall and it was possible to have all I desired.  If success was possible once it it possible many times over.

I firmly believe everything always works out.  I am not always sure in the moment exactly how it will, but my belief system tells me it always does.  When I find  I don’t have all the answers it means I need to look for assistance from friends, business associates and most importantly from my own coach and mentor.

Finally, know that you have choices, evaluate the possibilities and go with the option that you want. Don’t listen to anyone or anything but your inner knowing and go for what you recognize to be true and right.

Everybody wants to be rich. But few know how to make it happen. So unless you win the Mega millions drawing tomorrow night you are probably going to need another strategy to be successful.

Here are some of the top strategies of successful entrepreneurs….

Do It Daily – The one thing that successful entrepreneurs understand is that in order to move their business forward they must engage in marketing activities each and everyday.  Daily? YES… DAILY!

Time Is A Precious Commodity – How do you spend your time? Do you watch TV during the day? Chat with your girlfriends instead of working? Do you allow others to interfere with your time and schedule? If you answered yes to any of these you do not understand how valuable your time really is. Successful entrepreneurs understand that how they spend their time NOW will determine their future. Spend your time wisely.

Stop Procrastinating – Successful entrepreneurs don’t’ put off what they know they can do today…in others words they don’t procrastinate.  This sense of urgency is borne not only from their understanding of how valuable their time is, but also from wanting to keep their clients happy. By acting immediately, they are ensuring client satisfaction.  And happy clients are clients that will return to buy your products and services over and over again.

One Thing At A Time – I love the phrase “one day at a time”. Well this is the same concept except instead of one day a time; it’s one thing at a time. If you find yourself in a constant state of overwhelm and confusion because you think your to do list is out of control, remember that all that’s important is that you do something…anything each day.  Worry won’t decrease that pile. But taking action and doing one thing and then the next and the next will.

Always Have A “Plan B” -  Although I don’t worry about the big stuff, I always have a backup plan if something goes wrong. What do I mean by this? Well if I am planning a retreat I don’t worry about filling the retreat, but I do worry about if the retreat center is not ready for us when we arrive. I focus my attention on the details and have a backup plan for if something needs to be “tweaked”. This insures that I have thought out all of the potential problems that could arise and already have a solution ready at hand.  I always have my “plan b”!

Don’t Do It All – Successful entrepreneurs understand how important a team is to the ultimate running of their business.  Doing it all is a recipe for burnout and disaster. Smart and savvy businesswomen create teams and delegate effectively. Hiring a virtual assistant, bookkeeper, personal assistant, housekeeper, etc., help to keep your mind of the small stuff and instead keep you focused on the big picture.

Have The Right Mindset – Successful entrepreneurs are focused on three things:  security, comfort, and money. The focus on security allows the successful business women to develop systems and programs that reinforce that need for security with an overall focus  on the big picture as opposed to doing tasks and activities that have only short term results. So remember to invest in yourself and your business for long term success.

No matter where you are in your business I encourage you to implement these strategies.  If you are new in business, start with one idea and build on from there. Take the first steps toward building that successful business.