Don’t Chase Your Tail: Three Surefire Tips to Help Your Business Grow

    We have a new team member at SBTV.com. His name is Maxwell Solovic and he is the Chairman of the Bone. Yes, I got the title right. Maxwell is a five pound Shih Tzu puppy who comes to the office with me when I'm not traveling.

    Because he's only about three months old, everything is a new adventure for him – sights, sounds, smells and people. He has more toys and treats than you can imagine, (he's an only child—I mean puppy) but one of his favorite things to do is chase his tail. He'll run in a circle at manic speeds until he ultimately collapses having never achieved his goal, if he even knows what his goal is. That doesn't stop him, however, from trying again later.   

It's perfectly acceptable for a young puppy such as Maxwell to chase his tail.  After all, he's a dog and it's cute. When you are trying to build a successful business, it’s not so cute to spend your energy chasing your tail.  You’ll find yourself frustrated and burned out without ever achieving your business goals. 

    So if your business isn’t growing as you’d hoped, ask yourself:  Are you simply chasing your tail? Think about it. How many days do you work at manic speeds until you're exhausted, but if you're honest with yourself, you didn’t really accomplish a thing? I see it all the time. People “make busy.” They create lots of commotion and they talk a good game, but their business is going nowhere.

Here are a few surefire tips to help you grow your business so you don't wind up chasing your tail.

Keep your eye on the ball    When you start a business money is always tight. Opportunities will present themselves that are attractive because you see them as a quick way to bring in cash. Before you eagerly accept, stop yourself and think about whether or not it fits with your business goals. One of the biggest reasons many small businesses fail is because they take on projects or products that are completely unrelated to their business strategy and before you know it, not only have they lost the original business concept, but they're not doing anything well.

Set Milestones    Create a growth strategy and set milestones and/or deadlines for yourself. Without established measurements, days, weeks and months can pass by while you talk, talk, talk about what you're going to do, but you never get around to doing it.  You may not meet every one of your goals in your estimated timeframe, but at least you'll be continually focused forward.

Take Action Every Day    Never let a day go by in your business where you haven't done at least one activity to help you reach your business goals. Business success requires discipline -- the discipline to practice those things that are instrumental for your success. Occasionally making a sales call or attending a networking event won't help you generate new business opportunities. You know better than anyone what actions are necessary to grow your business. Practice them every day.

    Starting and growing a small business isn't easy. Make sure you work smart so you don't wind up chasing your tail.

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JWB Interest, LLC  2011 All Rights Reserved
By: Susan Wilson Solovic
March 23, 2011

Marketing Wisdom from Ben Franklin

    Marketing is the “voice” that drives business success. Without marketing, many of the best products and top services would go unheralded and perhaps even undiscovered.
    So, how do you attract customers? While there are literally thousands of places you can turn to for marketing advice, from books, to experts to Web sites, there’s one source that is all too often overlooked—Benjamin Franklin. Yes, that Ben Franklin. The one who said, “Time is money.” So the next time you’re looking for some marketing advice, before you waste your time (and money), listen to the wisdom of one of America’s first—and most celebrated--entrepreneurs.
    The point of marketing is to draw attention to your company. Franklin believed you could do that in two ways—“Either write something worth reading or do something worth writing.” In either case, it’s all about delivering value and telling people about it.
    For some of you, customer involvement is crucial to your success. Bring customers into your shops and restaurants by staging events like fashion shows, wine or beer tastings and fund-raising promotions. Retail and service entrepreneurs can host seminars, lectures and workshops. As Franklin said, “Tell me and I forget. Teach me and I remember. Involve me and I learn.”
    The best marketing campaigns will not make up for shoddy products or bad service. Reputation was essential to Franklin: “Glass, china, and reputation are easily cracked, and never well mended.” And “It takes many good deeds to build a good reputation, and only one bad one to lose it.”
    It’s your business. Sure, you can hire out or delegate some tasks. But at the end of the day, you’re in the driver’s seat. Franklin’s advice, “Drive thy business or it will drive thee,” is something business owners need to remember every day.
    One of the most important rules of marketing is that it must ring true. As Ben reminded us, “What you seem to be, be really.”
    Your business is in a constant state of evolution--and your marketing plans must evolve with it. So be open to change. As Franklin said, “When you're finished changing, you're finished.”

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JWB Interest, LLC  2011 All Rights Reserved
By: Rieva lesonsky
March 23, 2011

Growing Your Business While Maintaining Balance in Your Life . . . It's Easier Than You Think

    As the American Business Women's Association (ABWA) prepares to celebrate 50 years of helping women succeed in business, it is amazing to look back and see the changes in the workplace that have taken place. The astonishing developments in technology alone have forever changed the way we do business. Advances by businesswomen have created new struggles as well, such as the difficulty of finding the perfect balance between career and personal life.
    One of the biggest barriers to achieving this sought after life balance is time, more specifically a lack of time. Fortunately, one of the solutions to this problem is simple, time-tested and proven to help you get ahead in business, while simplifying and enriching your personal life. The solution? Networking.

Women-owned Businesses are Growing    According to U.S. Census data, women are currently starting businesses at twice the rate of men, resulting in nearly 8 million women-owned businesses in America today. A survey conducted in 1994 by Avon Products Inc. showed that 74 percent of corporate women are interested in starting their own businesses. As more and more Americans take the entrepreneurial plunge, the market gets tighter, the competition gets tougher and business owners need competitive advantages to stand out. Women have historically helped each other along the way in the struggle for equality and the same is true today as they leave the corporate world behind and forge new ground in entrepreneurship.

Networking Is Essential    Whether you are an established entrepreneur or just entering the work force, networking is an essential component to achieving success, as well as balance in your life. Networking is especially important to individuals who are starting or running their own businesses. While business ownership provides tremendous perks and satisfaction, it also carries with it a unique set of concerns and issues, especially for women trying to balance business, family and personal life.

Why Network?    The bottom line about networking is that it works. If you don't think you have time to network, think again-you really can't afford not to. In addition to meeting experienced business owners, discovering new ideas and learning innovative ways to do business, you may also find quality day care, a part-time housekeeper and a carpool for the kids' soccer game when you have a late sales meeting. Networking is becoming the bridge that unites the conflicting states of work and family.

    It's important to recognize that networking is more than handing out your business card. If you are not connecting with people on a more personal level, you are not networking. Donna Fisher, author of People Power: 12 Power Principles to Enrich Your Business, Career and Personal Networks, stresses the importance of listening. "People can sense when you are truly listening and when you are only feigning interest," says Fisher. "People know that you care by the way you listen. Listening is a powerful rapport builder, because the process of listening conveys sincerity and attention." Because many people feel self conscious and uncomfortable networking with strangers, Fisher also emphasizes the ability to connect with others. "Any time you feel uncomfortable it is because you are focused on yourself," says Fisher. "When you take your attention off yourself and focus on others, your self consciousness will disappear."
    Anne Baber, co-author of Smart Networking: How to Turn Contacts Into Cash, Clients and Career Success, points out the importance of sharing a success story with your conversation partner. When asked the question, "What's new?" most people reply, "Not much, what's new with you?" Instead, share a success story and you will convey what you do, how you serve clients, something unique about your business and what your firm has to offer. Baber suggests you have several success stories planned in your mind, so you will always be prepared. Your story should be short, unique, service-oriented and strategic.

Network Everywhere    Networking can take place informally almost anywhere; in line at the grocery store, at the dentist's office or in a restaurant. Increasingly popular, however, are formal networking sessions in professional group meetings. ABWA started when three businesswomen got together to support each other in their career and educational goals. It was not called networking in 1949, but that's exactly what it was. Today, with 80,000 members, ABWA knows the value of networking and provides opportunities for women to connect in several ways. Visit the AWBA Web site for more information about their networking opportunities.
    Women-owned businesses employ one out of every five U.S. workers for a total of 18.5 million employees. There is no doubt women have changed the face of the work force and marketplace. Your network is never big enough and there is never a point when you can afford to stop networking. Take advantage of networking opportunities. You will be amazed to discover how networking will help your business grow, enrich your life and help you achieve balance between career and family.
    Carolyn Elman is the Executive Director of the American Business Women's Association (ABWA).. ABWA brings together businesswomen of diverse occupations and provides opportunities for them to help themselves and others grow personally and professionally through leadership, education, networking support and national recognition. Visit the ABWA Web site for more information.

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By Carolyn Elman Executive Director, ABWA

March 23, 2011

Why Twitter Matters to Your Business

    With JPMorgan rumored to be eyeing a minority stake in Twitter that would value the company at $4.5 billion, it’s time for business owners and managers to start taking Twitter seriously.  Not surprisingly, like many other aspects of web-marketing and social media, what you can do with Twitter can offer productive and measurable results.
    As we entered the Twitter age it was viewed primarily as a medium for the most basic form of social communication.  With limited message space (140 characters) short quick messages were the norm.  As with many new technologies it spread, and now Twitter has moved from a fad to a tool for many business applications.  Recently the financial and other industries have begun to use Twitter to communicate with clients mostly on mobile platforms.  With the very large and growing numbers of “smart phones” and other portable communication devices the possibilities are virtually limitless.
    For your business, having thousands of Twitter followers doesn’t mean much unless you’re reaching the right people.  For you, the “right people” means your client / customer base or potential clients / customers.  Chances are some of the people you do business with today are active on Twitter.  By establishing your own Twitter identity and inviting your existing clients / customers to “follow” you, you accomplish several things.
    First, you maintain your role as thought leader. Consider this - if your clients / customers are active on Twitter, they are listening to (following) someone.  It’s in your best interest (and your clients / customers) to make sure that you are one of the “someone’s” they follow.
    Second, you open up a different type of communication channel.  Not every client interaction you have needs to be an hour long meeting.   Sometimes a brief message pointing your clients / customers to an article supporting your point of view is enough.  Twitter is perfect for this.
    Finally, Twitter gives you an opportunity to develop a following of your own outside your client / customer base.  These people may someday become new clients / customers!  Here are a few ways to attract more quantity, quality, and qualified followers.

1. Participate in the Conversation   Where is your industry on Twitter?  Who are the leaders?  What kind of content is being shared, and what language are they using?  Being a part of your industry on Twitter will connect you to a more relevant audience.  Learn what others in your industry are "tweeting".

2. Follow People That You Want to Know   Don’t just follow anyone with the hopes that they’ll follow you back.  From industry experts to potential leads, follow people that you’re interested in and that you want to attract.  Connect with me on Twitter here @jwbinterest   or  @johnburdin . One account for business and one personal isn’t necessarily needed, but is an alternative with more exposure.

3. Introduce Yourself   Social media is like one big cocktail party.  If there are people that you are really focused on getting to know, simply introduce yourself.  It’s easy and more effective to make a personal introduction.  You can also make a comment about their blog or ask a question.

4. Stay Focused   If you’re on Twitter for business keep it industry focused.  Don’t Tweet solely about your kids or what you ate for lunch.  Although some personal interaction is acceptable, discussing relevant topics will attract a more targeted audience.

5. Don’t Rely Solely on Automation   If you use automation tools (e.g. Facebook status posted directly to Twitter), make sure you create pertinent messages and schedule posts over a varied period of time.  Automated only posts can look very impersonal, and be seen as SPAM.

6. Tweet a Balanced Mix of Information   Include content from your blog as well as your thoughts on industry news or links to interesting articles.

7. Join Twitter Discussions   Get involved in discussions about industry topics to draw attention to your expertise.  Use the Twitter search tool or search by hashtag (#consulting, #business advisor, #management) to find relevant topics.

8. Retweet (RT)   Retweet posts that you find interesting to increase your visibility.  People who follow the person you Retweet or the hashtag you include will see you as someone with similar interests.  Make sure you use the @name when you mention other Twitter users to help build relationships.  If others are monitoring conversations about themselves, they will notice your Retweet.

9. Listen to Your Audience   Pay attention to what your audience is talking about.  What questions are they asking?  What information are they requesting?  If you provide valuable Tweets to your followers you will likely attract more quality followers.  Respond to questions with quality content and people will see you as an informative resource, follow your Tweets, and may even Retweet you.

10. Promote Your Twitter Handle   Add your handle (your @name) to your email signature, business cards, website contact information and your blog.

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JWB Interest, LLC  2011 All Rights Reserved
John Burdin,  TJ Gilsenan
March 8, 2011