Professional development Archives | Page 5 of 167

3 Fantastic opportunities

October 29, 2018 by Jim Connolly

Photo: Shutterstock.

Here are 3 fantastic opportunities, which are available to you today.

The opportunity to make promises and deliver on them. Set deadlines. When you tell a client; “It will be with you at 3pm Thursday”, it has a much bigger impact than saying, “It will be with you later this week”. This is a powerful way to earn trust and build a great reputation. (More here).
The opportunity to invest in others. In short, leave people better than you find them. It doesn’t have to cost you a dime. If you find an article, which you think a contact or client will find useful, share it with them. Even something as simple as a smile from you, can have a positive impact on another person. It could be the only sunshine they see today.
The opportunity to learn something new (and useful). Access to knowledge has never been easier or less expensive. Here’s why this is such a great opportunity: There’s a direct link between what you know and the size of the problems you can solve. Those who earn the highest fees, solve the biggest problems.
The opportunity to do more than people expect from you. Those who over-deliver are always in short supply. That’s why there are no traffic jams on the extra mile.

Opportunity is knocking. Today and every day.

16 Examples of how the most successful business owners think differently

October 25, 2018 by Jim Connolly

Photo: Shutterstock.

When we examine any industry, including yours and mine, we see something extremely valuable. And today, I’d like to share it with you.

It’s a pattern.

Only a small percentage of business owners build a valuable community around their work.
Only a small percentage of business owners look for opportunities to inspire and encourage others.
Only a small percentage of business owners create a story worth sharing.
Only a small percentage of business owners proactively look for big problems to solve.
Only a small percentage of business owners invest enough in their education.
Only a small percentage of business owners are eager to lead.
Only a small percentage of business owners listen to their marketplace and build experiences around what they hear.
Only a small percentage of business owners are truly committed to go the extra mile.
Only a small percentage of business owners selectively choose their clients and ignore the rest.
Only a small percentage of business owners are willing to make tough decisions and back them up with action.
Only a small percentage of business owners refuse to surrender their focus to the never-ending stream of interruptions.
Only a small percentage of business owners strive to out-care their competitors.
Only a small percentage of business owners intentionally take time, every day, to look after their mind and body.
Only a small percentage of business owners care enough to create or share a useful blog post, newsletter, vlog or podcast.
Only a small percentage of business owners are willing to visibly stand out from their competitors.
Only a small percentage of business owners are committed to do work that matters, rather than work that pays the bills.

I could go on.

That pattern matters. It matters because it’s also only a small percentage of business owners who succeed in any meaningful way.

And that’s no coincidence my friend.

Fearless

October 24, 2018 by Jim Connolly

Photo: Shutterstock.

As a business owner, the fears you have are largely the same as your competitors. This presents you with an amazing opportunity.

You see, when you avoid doing the things you fear, you also avoid doing the things your competitors fear.

In other words, whatever you’re avoiding, they’re avoiding too!

This means whatever it is, is going to be in very short supply.

Here’s why this matters to you and your business:

Lack of supply = scarcity.
Scarcity = value.

If you want to be in demand.

If you want to avoid selling based on price.

If you want to stand out (and you do). Learn to embrace the things you fear. That feeling of fear that usually blocks you, could actually be your inner compass, telling you that you’re on the right track.

Here are some specific examples to help you.

A sincere lesson from 2 of my failures

October 20, 2018 by Jim Connolly

Photo: Shutterstock.

I spent a great afternoon in Lincoln last Wednesday, talking with a group of amazing, young entrepreneurs. During the session, I answered a question for them, which I think you may find useful.

They wanted to know; what was the most valuable lesson I learned, from my first year in business? The answer was easy. I remember it well, because it was so painful.

I started with a quote from the late Jim Rohn:

“Sincerity is not a test of truth. We must not make this mistake: He must be right; he’s so sincere! That’s because, it’s possible to be sincerely wrong.”

I explained to the group that during my first year as a business owner, I’d made some bad decisions. I made them based on feedback from 2 people I trusted. I was just 29 years old at the time. They were 20 or 30 years older than me. They were good and sincere people.

Making decisions based on their advice seemed sensible.

It wasn’t. Oh man, it wasn’t!

One of those decisions lost me an amazing opportunity. Another cost me a fortune. I quickly learned that I had to be a lot more discerning, regarding who I went to for important advice. It was around that time that I heard the above quote from Jim Rohn.

This got me thinking.

I figured out that the best source of business advice was from people, who’d already achieved what I wanted to achieve. I’ve followed that rule ever since and have never once regretted it.

Originally, I chose local people, who I assumed were knowledgeable about business. That approach failed me on 2 accounts.

2 Important lessons

Firstly, their geographical proximity to me was not a useful way to determine the value of their feedback. I rely on experts today, who are located all over the world.

Secondly, they were knowledgeable, but they were not entrepreneurs. They operated from the employee mindset. One was the branch manager at the bank where I opened my first business bank account. The other was the practice manager at my accountant’s office. They remained salaried employees, to the best of my knowledge, for the remainder of their careers; never actually going into business for themselves. They saw risk in everything. They’d advise me against doing anything, unless there was a guarantee, in advance, of success.

Business doesn’t work like that. In fact, life doesn’t work like that. And it never has. Otherwise no one would ever start a business, or get married, or start a family, or buy a new home, or travel the world or do anything. Success comes from minimising risk. Not from avoiding risk.

Both of those people were sincere. But the advice they were giving me, as Jim Rohn said, was sincerely wrong.

P.S. Read this – Do you think like an entrepreneur? The answer may surprise you.

No ifs. No buts. They absolutely must hire you. Here’s why

October 19, 2018 by Jim Connolly

Photo: Shutterstock.

It’s really important that your prospective clients (or customers) hire you or buy from you. And not for the most obvious reason.

Allow me to explain.

If your prospective clients go to one of your competitors, you have no way of knowing what kind of lousy service they could receive.

Anything could happen to them!

On the other hand, you know for certain what will happen if a prospective client hires you.

You know that you will look after them.
You know they will receive outstanding value for money.
You know that you will care, really care, about them and the service they receive.
You know that you will go the extra mile for them.

In short, if they choose you, you know they will be delighted.

A powerful marketing mindset

I have clients today, who first hired me 2 decades ago. This marketing mindset is what attracted them, and my total commitment to their success is what keeps them coming back.

I recommend you do the same.

You see, I truly believe you have a professional obligation to ensure that your prospective clients hire you or buy from you. Why? Because it’s the only way you can guarantee for certain that they will not be disappointed.

Now consider this:

How do you think your marketing message will improve, when it’s based exclusively on what’s best for them, rather than self-promotion?
And how do you think your results will improve, when your marketplace knows you’re looking out for their best interests?

Like me, you care passionately about your clients. You take huge pride in the quality of your work and the happiness of your clients. So let the marketplace know. Show them that their total satisfaction is your goal. Make that message the cornerstone of your marketing.

Because it’s exactly what they need to hear… and you know that what you’re saying is the truth.

Go maximum. Go minimum. Avoid the middle!

October 17, 2018 by Jim Connolly

Photo: Shutterstock.

There are two business models, which have proven time and again to be extremely successful.

They are:

Focusing on the minimum you can deliver.
Focusing on the maximum you can deliver.

Minimum model

The business owner who takes the first option, will focus all their smarts and creativity on cost efficiencies. They’ll embrace automation and AI. They’ll search for ways to lower their overhead on a weekly or daily basis. They’ll know exactly what the minimum required is and they’ll deliver on it.

There is a huge marketplace willing to pay for a stripped back product or service. We see them everywhere; no-frills airlines, feature phones, low price stores, etc.

The minimum model works. Really, really well.

Maximum model

The business owner who takes the second option, will focus all their smarts and creativity on excellence. They’ll place a premium on exceptional customer service. They’ll set the highest possible standards and achieve them. They’ll need to unceasingly focus on delighting their customers at every opportunity.

There is a marketplace who are desperate to be treated this way and they willingly pay a premium. It’s an exceptionally profitable marketplace, too. [More here].

The middle of the road

The problem comes if we fail to choose… and end up in the space between those 2 successful business models. For example:

Better than the minimum quality, but not premium, either.
Less expensive than the premium brands, but not inexpensive enough for the price-sensitive.
Products or services that are fine, but not remarkable enough for people to tell their friends.

By failing to choose, we fall into the anonymous middle of the road; where there’s very little interest and where it’s really, really hard to get noticed. There are of course some established brands who successfully plug the middle ground.

However, it takes a ton of resources (and a MEGATON of money) to stand out, when by default, a business is doing middle of the road stuff. No one talks about the unremarkable. No one. So, these businesses need to push their message via paid advertising. In short, their business model has no legs.

Middle of the road businesses are also why networking groups exist. They have to push for referrals, because their message doesn’t (can’t) spread organically. They’re stuck in a frustrating, unending and very expensive fight for attention.

Moving forward

We make things massively easier when we intentionally choose how we want to serve the marketplace. To either develop a great, low priced, cost efficiency model or go all out for premium. Spectacular results are possible at either edge of the spectrum.

Why not take some time today, to think about those 2 options. Consider how different your business would be, if you had the clarity and marketing impact, of operating exclusively from one end of the spectrum. It’s definitely worth considering.