Business Development Archives | Page 2 of 218

Help required

June 19, 2020 by Jim Connolly

Every successful business is built on a foundation of help.

The help you provide to your clients or customers, through your services or products.
The help you require in order for your business to thrive.

If either of those areas are neglected, the business suffers.

If the quality of help you provide is matched or overtaken by your competitors, your business will stop growing and then shrink.
If the help you require in order to thrive is missing, your business will stop growing and then shrink.

Most small business owners are very good at offering help. But they’re lousy at asking for it. This holds true even when they are 100% certain they need help. For some, the block is a financial one.

But for most it’s the inability to emotionally understand the difference between a cost and an investment.

On an intellectual level they know the difference and they can see that they have a problem that needs investing in.
But on an emotional level, they freeze.

As we face the months ahead, our thinking must be intellectually and emotionally aligned. That’s because knowing what to do is pointless, if we fail to do it.

A proven starting point is to examine the excuses we tell ourselves, in order to self-justify why we’re refusing to do what’s needed. Then consider where our inaction will lead us. We find it’s like wanting our flowers to grow, yet starving them of the water and sunshine they need.

Ultimately, when we work against what is right, it keeps going wrong. We know this to be true.

The next step is to believe it.

You’ve been lied to for years

June 17, 2020 by Jim Connolly

Photo: Shutterstock.

The following statement will sound counter-intuitive. That’s because you’ve been lied to for years. Okay. Here goes.

In marketing, there’s a case for style over substance.

It’s a strong case, too.

Just think about this for a moment:

The top political commentators get paid a ton of money, to deliver their take on the news for major networks.
The also-ran commentators get paid peanuts, to deliver their take on the news, for small, local networks.

Here’s the thing. In both cases, the news (substance) they comment on is the same. Here’s why one of them is earning 10 times or 50 times more than the other. It’s their style. The style with which they work.

For example:

Their courage, when choosing to take (or avoid) a controversial stance.
Their vocabulary.
Their energy.
Their ability to communicate with confidence.
Their effectiveness when injecting their personality (style) into their work, so that it’s truly theirs.

Here’s my point. When it comes to business, the substance should be there by default. Every qualified consultant, coach, lawyer, whatever… knows what their service (substance) is and how it works. It’s their style that makes all the difference. It’s their style that sets them apart from the crowd.

Style over substance in marketing

The newsletters, blogs, vlogs, podcasts, Facebook groups, Medium publishers, etc., that people take notice of, all have their own style. The same is true of the most successful email marketing, advertising, marketing campaigns and copywriting.

And the ones that fail to grow, fail to get noticed, fail to make an impact… well… they don’t.

Instead, they follow the cookie-cutter approach to marketing. They bought into the lie. The lie that says, “Just do things this way and it works. Follow the steps. 1-2-3”.

That’s bullshit.

It doesn’t work. In fact, it can’t possibly work. Because your style can’t be found in a book.

You can certainly learn substance that way. However, your style, the very thing that gets you noticed, by default, can’t possibly be learned from a marketing seminar, a course, a book or any other generalized form of information.

Why?

Because your style is all about you.

Where are you right now?

Okay, I already know that you totally understand your subject. So the substance is there. It’s taken care of. That’s covered. You’re good.

But what about the style?

When it comes to your marketing, when it comes to the story behind your service, are you telling it from your perspective? Are you sharing the substance of your knowledge, using your voice, your stories and your experiences? Because it’s your style that people connect with.

It’s your style that sets you apart.
It’s your style that causes people to return for more.
It’s your style that makes you approachable.
It’s your style that gives you a voice.
It’s your style that inspires people to share your message.
It’s your style that gives value to your substance.
It’s your style that motivates people to hire you or buy from you specifically, rather than a cheaper alternative.

And none of that can be robotized. Or automated. Because it’s you. It’s your authentic experience. It’s your greatest marketing asset. In fact, with so many competitors out there, with so many people trying to get the attention of your prospective clients, your style is the most powerful tool in your arsenal.

So, give your style the oxygen it needs.

2 Powerful tips from marketing that stinks!

June 14, 2020 by Jim Connolly

Photo: Shutterstock.

I’d like to share an example of shockingly bad marketing with you today. In fact, you could say this marketing stinks! However, there are 2 powerful marketing lessons to learn from it, which you can apply directly into your business.

Here’s what happened.

I’ve used the same brand of deodorant for years. Recently, my brand wasn’t in stock, so I looked for another brand and noticed for the first time that they all claim to offer 48 hour protection.

Think about that for a moment.

Thankfully, there are very few people who only shower or clean their body every 2 days; whose armpits remain unwashed for 48 hours. And if you’ve ever stood close to someone with such bad hygiene habits, you’ll know these people don’t buy deodorant!

Here’s the thing: The ridiculous 48 hour claim on the packaging has nothing to do with deodorant. It has everything to do with ineffective, uncreative marketing.

Allow me to explain.

Here’s how it happened

The marketing team behind one of the brands decided to use a bigger number on their product (48 instead of 24), to make it look like better value.

The other brands followed suit. So, the number remains, even though it’s now meaningless and totally ineffective. No one needs 48 hour protection and having that number no longer generates additional sales, because they all use it.

As a marketing tactic, it stinks. It fails on every level.

There are 2 useful tips here

Firstly, if you want to make your product or service stand out from the competition, make it meaningfully different. Provide something that adds genuine value. Something your marketplace will get additional utility from.

Secondly, if you want to really stand out and stay in front, get creative. Because the first deodorant brand simply moved the dial from 24 to 48, every competitor could easily follow suit. Any marketing advantage was wiped out super-fast. So, choose something that’s harder for others to copy.

Better still, consistently strive to keep improving the value you bring. It’s hard to beat a business that operates from that mindset.

Does your business pass the Steve Jobs test?

June 11, 2020 by Jim Connolly

Photo: Shutterstock.

Every great business story begins with a dream. An inspiring, exciting and motivating dream. A dream that propelled the business owner AND those around them, to make amazing things happen.

Steve Jobs famously motivated top people to work for him, by sharing his dream with them. The most famous example was when he asked John Scully to leave Pepsi and join Apple.

Jobs said.

“Do you want to sell sugar water for the rest of your life or do you want to come with me and change the world?”

It’s hard to reject an offer like that! That kind of compelling dream literally changes how people feel. Feelings are what precede actions. As such, it massively increases the chances of people wanting to take action and invest in you, hire you or buy from you.

Just think about that for a moment.

The power of a compelling dream

In contrast, the dream behind the typical small business is predictable. It’s pretty average. Here’s the thing: an average dream won’t attract the best clients, customers, investors or partners. It won’t compel people to want to share a business’s vision or talk about them, either.

You end up working just as hard, but without the power of a compelling dream, the ceiling on your potential is unnecessarily limited.

This begs the question; how do you know if the dream behind your business is motivating enough? In my experience, there are 3 very good indicators.

One way you know, is by how enthusiastic and driven you feel regarding your business. Compelling dreams bring energy and optimism. Average dreams bring frustration and pessimism.
Another powerful indicator is the way people react when you share your dream with them. If you’re on track, people will sit forward. Eyes wide open. Focusing on what you’re saying.
And finally, you’ll find that other people pester you to become a part of your dream. They want to be on your team. Either as a customer, client, investor or advocate.

If your business isn’t energizing you, or isn’t attracting the people or attention it needs, check how compelling your dream is. Look at how motivating your plans are.

It’s hard to overstate the value of a massively motivating dream. I see it in action every working day with my clients and it improves literally everything.

Some useful ideas. Plus an outstanding opportunity for your business

June 8, 2020 by Jim Connolly

Photo: Shutterstock.

I have a couple of important ideas to share with you today, regarding your competitors and some things you need to look out for.

Then, I’ll tell you about an outstanding opportunity that could be right under your nose.

Are your benefits as powerful as they were?

I’d like you to think about the major benefits of hiring you or buying from you. That’s because it’s possible those benefits are not as strong or attractive as they were, before the coronavirus pandemic.

For example, if you were one of the only providers in your industry offering client sessions via video, that won’t be the case any more. If people found your fees or prices were attractive or competitive, that may no longer be the case either. We’re seeing providers in many industries lowering their prices and others aggressively price-slashing. So make sure your strengths are as strong as they were, by paying attention to your competitors.

That leads on nicely to the next idea I’d like to share with you.

Fewer, but stronger competitors

One thing we’re likely to see accelerating over the coming months, is the number of businesses that are either merging with, or being acquired by, better-resourced competitors. This would result in a smaller overall number of competitors to your business, but stronger competition. We saw this a lot during the last recession.

Take some time today to research what your direct competitors are doing. All of them. Even those who have been slow to change over the years. They too are now being forced to adapt.

The more you know about the current shape of your competitors and wider marketplace, the better equipped you are to make decisions. Crisis always brings change. It’s up to you to adapt accordingly. Because doing more of what used to work may not be an option for much longer.

And on a much brighter note…

The opportunity you need could be right under your nose

Amid the challenges out there, it’s really important to be aware that there are also outstanding opportunities. I see examples of this every day. Some are from business owners in the industries most effected by the coronavirus.

Where do I start, Jim?

Be part of the solution, my friend!

This means looking for one of the gaps in your marketplace. These gaps are newly created wants or needs. And they usually present themselves as problems that need solving. They may not be obvious, but they are there.

When you identify a gap, test it. Do the research. Get the numbers. Ask for feedback. If everything stacks up, get to work on how to service that need (solve the problem), in a way that’s valuable to the community you serve and profitable to you.

Is it easy?

No.

Is it worth it?

Absolutely.

It’s a love thing

June 6, 2020 by Jim Connolly

Photo: Shutterstock.

Business is all about people. This is true whether you sell to consumers or to companies. After all, it’s a person who decides to hire you or buy from you.

With that in mind, here are a few ideas to help you connect a little deeper with the needs of the people you serve and your wider marketplace.

People love to talk: Give them a story that’s worth sharing with their friends and contacts, and that’s exactly what they will do. It’s how all word-of-mouth recommendations happen. For inspiration, look to the brands, products and services you’ve recommended in the past. Determine what it was that made them worthy of your recommendation. Then figure out how you can adapt that into your business, products or services.
People love to succeed: Look for ways to help your clients and your marketplace hit their targets or achieve their goals. Ideally this would be through the services or products you provide. That said, if there’s a book, newsletter, idea or article, etc., which you found useful, share it with them or recommend it to them.
People love to be valued: Consider how good you are at showing your appreciation of other people. Even something as simple as a thank you note can make a huge difference to how someone feels. This is especially the case when they’re not expecting it.
People love to feel safe: Focus on ways to make your clients and prospective clients feel more secure and comfortable. The way you apply this will differ depending on your industry or profession. However, when it comes to buying from you, risk reversal is universally effective, if it applies to your industry and you do it correctly. I talk about it here, (in point number 3).
People love to save time: Look for opportunities to help your marketplace get more done in less time. This includes looking for ways to speed up the process of hiring you, buying from you and doing business with you.

Stay safe.