Archive for the 'entrepreneur' Category

When Great Isn’t Enough

Published on July 2, 2009 in business, entrepreneur, management, marketing and strategy. 0 Comments Tags: .

Most entrepreneurs and owners of professional service firms risk so much for their business; yet never realize how much they risk by not mastering marketing. They spend years learning about and perfecting their chosen field (engineering, consulting, legal, creative services, medical, architecture, financial services, etc…); and more often than not they are accidentally successful in their business ventures.

If you ask these owners how they get new clients on a consistent basis, they typically shrug their shoulders and say, “We’re a word of mouth business” or “I’ve built this firm entirely on referrals.” But then re-ask the question with a focus on getting new clients on a consistent basis and that’s when they realize that word of mouth and referrals are strategies based on hope.

Now, let me be clear, both referrals and word of mouth are critical to your success, but you cannot control new business generation from either. It’s going to happen (or not) based on the quality of your work and the service you provide. If you run a successful business based solely on referrals, chances are you have been accidentally successful. And I say accidentally because you don’t know what to do to generate new clients other than working hard and doing a good job. It’s not a repeatable system.

Marketing doesn’t have to mystery. In fact, marketing is not rocket science; it’s just that most business owners have never been trained to be effective marketers. The top three proven marketing strategies for growing a professional firm are:

  1. Speaking
  2. Writing
  3. Networking

And here’s the best part; the future of the web is built to allow anyone to take advantage of these marketing strategies. Web technology like webinars and online video sites allow you to easily share your knowledge and expertise via speaking. Today, the barriers to publishing are virtually non-existent with blog platforms like Wordpress, Moveable Type and Typepad—not to mention online article distribution services like ezinearticles.com and isnare.com or self publishers like lulu.com if you want to pen a book. And it’s easy to expand your sphere of influence through social networking sites like Facebook, LinkedIn and Twitter.

In today’s competitive marketplace, it’s not enough to be great at what you do. To take your firm to the next level you must be recognized as an expert in your field. And to be recognized as an expert, you cannot be an accidental marketer.

NOTE: originally published as a chapter in Age of Conversation 2 – Why Don’t They Get It?

You want a dose of passion+reality?

Published on October 22, 2008 in ROI, business, entrepreneur and marketing. 0 Comments

No one does it better than Gary Vaynerchuk. If you don’t know his story, do yourself and favor and read up on someone that’s truly learned to use web 2.0/social media for profit and fame. He’s gone from local NJ wine retailer to national personal branding powerhouse in just a few years–and he’s happy to tell you how to do the same.

Fair warning, there’s a bit of profanity but it’s just a side effect of letting your passions take the wheel for a little while. Watch, pay attention and do something different…

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Roadmap to Success

Published on August 29, 2008 in entrepreneur and misc. 0 Comments

I’ve recently been on a Napoleon Hill kick. For those that have not read his classic writings on wealth, I highly suggest it. The more time I spend thinking about the future I want, the more I can see the elements beginning to align. I’m consistently surprised at the number of clients that I’ve worked with who have never thought about their future. They never sat down to determine what type of life they wanted; or how their business venture would help them get there. I’ve had clients in tears once they see the connection between their desired lifestyle and how their business can be a vehicle to deliver it. Talk about motivation and power!

Today, I got an email from the Napoleon Hill Foundation with a roadmap to success that I felt needed to be shared.

Model these behaviors and success will follow–I’m not sure how it couldn’t if you stick to the principles.

  1. The successful person has a plan for getting what he wants, has faith in his ability to acquire it, and works his plan.
  2. The successful person is obliging and friendly. He encourages others through his positive mental attitude to assist him in achieving his goals.
  3. The successful person is tactful. He thinks before he speaks and anticipates the reaction of his audience as he engages their cooperation.
  4. The successful person keeps his opinions to himself for the most part, and only expresses those that he has researched and can be backed by facts.
  5. The successful person budgets his time and money wisely.
  6. The successful person is genuinely interested in all people.
  7. The successful person is open-minded and tolerant of others.
  8. The successful person remains current and knows what is occurring locally, nationally, and internationally.
  9. The successful person focuses on the positive and eliminates the negative.
  10. The successful person is a giver first and a receiver second. His primary focus is on the service he renders.
  11. The successful person respects the Creator and acknowledges Him for all the gifts he has been given and is yet to receive.

I encourage you to sign up for the email newsletter from the Foundation. Each issue is full of motivational tips and techniques to create the life you dream of.

Just Do It?

Published on July 2, 2008 in Client Magnet Archives, entrepreneur, management and strategy. 0 Comments

We live in a very action-oriented society.

Getting things done, accomplishment, success and winning are valued above almost everything else. When you meet someone new, they first ask you what you do. And we love to tell them.

And I’m no exception. In fact, I feel guilty when I take it easy and am not doing something productive.

What’s wrong with this picture?

What’s wrong is that this primary focus on action is ultimately doomed to failure. It’s a strategy that will not consistently get us what we want. In fact, it can contribute to huge amounts of wasted time, spent energy and unfulfilled dreams.

I’m not saying that action is bad. No, it’s quite essential – in its place. What doesn’t work, what actually hurts us, is a focus on action above all else.

Nike’s iconic motto “Just Do It” is a lie.

Now, I’m not saying that taking it easy is the answer either. This article has nothing to do with finding balance and reducing stress. Although useful, they are not the key to making your dreams come true.

Have you ever noticed that two people can be equally busy in their lives – in their business – and yet one is a lot more successful, more accomplished than the other? I’ve certainly seen this with my clients.

Similar businesses, similar levels of intelligence, but very different results. One consistently produces superior results and the other struggles valiantly only to see their efforts fall short. Both are equally action focused. So why do they get different results (even when using similar methods)?

This really is the proverbial $64,000 question!

The answer to this question is both powerful and elusive. It’s powerful because, if you understand and apply it, it can change your life. It’s elusive because, like the air we breathe, it’s easy to miss.

So let me demonstrate how it works.

I’m going to ask you to do a little exercise: I want you to picture something that you want to accomplish in your business but haven’t yet. Make this as clear as you possibly can. See it, feel it, touch it. Make it completely real.

Then say these words to yourself: “I want….” and then describe what you want as clearly and as concisely as possible. Focus only on this, on nothing else. Take your time until you are clear and specific.

Notice how you feel once you have a higher level of clarity about what you want in your business. Are you more (even if a little) excited, enthusiastic and confident than before? If not, go back and clarify your “want” a little more. Don’t cheat yourself by being vague–get very specific and clear.

Next, take a minute and write down 3 things you can do to make your “want” happen. It could be anything, but again, like your intended result, make your action steps very specific.

Do these action steps seems doable, achievable? Can you easily see yourself doing them and having them lead to your ultimate accomplishment? Are you ready to get started?

OK, that’s the exercise.

If you only read through this exercise quickly, I urge you to go back and actually do it. It only takes a minute or two and can kick start major changes in your business.

  1. Clearly picture something you want to accomplish in your business and concisely articulate what it is.
  2. Notice how you feel (if it’s not more positive, repeat step 1).
  3. Write down three specific action steps.

The secret to effective action is “Clear Intention.” Without clear intention, you’re just going through the motions. You’re putting a plan into action with no direction. And more often than not, you don’t get the results you desire.

I have a pretty good understanding of what you’re going through right now. I’ve noticed that when you tell someone that they haven’t created a strong clear intention, they usually won’t agree with you!

But the proof is in the pudding. When the intention is clear, your feelings are in alignment and the steps you need to take seem both obvious and simple. You automatically move towards realizing the intention you created.

Take a few moments to create a clear intention for your business – what is something you really want to accomplish? Set a clear intention for money – how much do you want to earn and what will you do with it? Set a clear intention for marketing and selling – what projects and clients would you love to have?

Action without clear intention is like a race car without big sticky tires; you’ll feel like you’re moving forward only to look back and realize you’ve been spinning your wheels.

(originally published by Robert Middleton of Action Plan Marketing)

Free Marketing Breakthrough Webinar

Published on May 1, 2008 in entrepreneur, management and marketing. 0 Comments Tags: , .

Starting May 15th, I’m leading an advanced marketing workshop, entitled “The Fast Track to More Clients,” in Lexington, KY. There’s been a lot of interest in the program so I’m hosting a free one hour webinar to give more details on the structure, content and benefits of the Fast Track workshop.

This workshop is based on the 7 Principles of Marketing that I’ve historically only used with my One-on-One Marketing Mentoring clients. This is the first time that I’ve offered it in a group format.

Full program details are available at http://www.nick-rice.com/fasttrack

Even if you’re not in the greater Lexington area, you may be interested in the webinar. It will be a great (and free) way to get a better understanding of the unique marketing mentoring/coaching format that I offer. Here are the details for the webinar:

Free “Fast Track to More Clients” Intro Webinar

Join me for a Business Breakthrough Webinar on May 7 – Space is limited.

Reserve your Webinar seat now at:
https://www2.gotomeeting.com/register/911433377

If you’re tired of getting the same old results from your marketing, please join me on Wednesday, May 7 at 4:00pm Eastern and explore what it takes to have a marketing breakthrough.

In this complimentary one hour webinar, I’ll go into more detail about the topics I’m going to cover in my upcoming advanced marketing workshop, The Fast Track to More Clients.

The Fast Track program will be a business “tipping point” for owners who are:

  • Tired of struggling with marketing and getting minimal results
  • Resistant to engaging in marketing activities
  • Committed to growing their business to a whole new level

During this webinar, I will personally cover the Seven Key Marketing Principles that will enable you to:

  1. Understand marketing as a game you can play to win
  2. Let go of the resistance and fear of promoting yourself
  3. Speak the “language of marketing” to generate immediate attention
  4. Articulate a marketing message that makes you stand out in a crowd
  5. Develop marketing materials that build credibility and trust
  6. Implement marketing tactics that get consistent results
  7. Develop marketing action plans that ensure your success
  8. FREE BONUS SESSION-Effective closing and selling techniques

Title: Free Fast Track to More Clients Intro Webinar
Date: Wednesday, May 7, 2008
Time: 4:00 PM – 5:00 PM EDT
Cost: $0

System Requirements:
PC-based attendees
Required: Windows(r) 2000, XP Home, XP Pro, 2003 Server, Vista
Macintosh(r)-based attendees
Required: Mac OS(r) X 10.3.9 (Panther) or newer

I hope you see you there.

What do you do?

Published on November 6, 2007 in Client Magnet Archives, branding, entrepreneur and marketing. 3 Comments

No matter where you go – especially in America – one of the first questions out of the mouth of a new connection is, “What do you do”. And if you’re like the vast majority of people you answer with something along the lines of:

  • I’m an engineer
  • I’m an attorney
  • I own a few restaurants
  • I’m a consultant
  • I’m a doctor
  • I’m a graphic designer
  • I’m an architect
  • I work for Acme Company – we make widgets

This response is what I call your “label”. It has very little to do with what you actually do. It’s just the quickest path to make a solid connection – or so we think.

Labels are like stereotypes. Right or wrong, we all have an internal definition of engineer, doctor, lawyer, marketing VP, accountant, attorney, consultant, etc… Think about it for a minute. What do you think of when you hear those labels above. How many of those labels come with built-in negative connotations? Which label am I talking about when I say nerdy, pocket protector, unfashionable, geek? What label am I talking about when I say expensive, elitist, necessary evil?

How many lawyer jokes have you heard? Doctors are commonly referred to as “quacks”. Is this the first impression you want to give?

With initial introductions like this, is it any wonder that most people struggle to see the business benefit in networking? If you lead with your label, you’re not controlling the recipient’s impression. You’re relying on their internal stereotype for where they place you. And how does anyone rank a bunch of attorneys or advertising execs when they all say the same thing?

In order to regain control of the conversation, stop using your label and start using the formula below:

I work with (target audience) who struggle with (issue/challenge).

THEN STOP! DO NOT SAY ANYTHING ELSE!

This short and sweet formula is the beginning of revolutionizing your marketing efforts. In order for this to work, you must have a clear understanding of who your target audience is and their #1 struggle related to your business.

With this answer, you’ll get interest and excitement instead of glazed over eyes. By using this formula it forces the recipient to look at you differently. It forces them to make a decision on what to do next.

Let them make a decision with their response. Now that they have an informed perception of you, they know what to say next. They may need your services personally; or they may know someone that needs your services. But either way, they’re taking the next step with you.

Let’s look a few examples:

In a room full of doctors, “I work with women in their 40’s who struggle getting pregnant.”

Advertising/branding, “I work with Fortune 500 companies that are currently “Challenger Brands” and want to become household names.”

Legal, “I help someone of the verge of divorce ensure that he/she gets her fair share of the assets.

HR consultant, “My company works with executives from the world’s largest hospitals who are pulling their hair out because they cannot keep good nurses.”

Financial consultant, “I help people with six figure incomes put their children through university without paying through the nose in taxes or eating up their savings.”

You can see the difference (and power) in the formula. If you’re at all interested in what that person is offering, you perk right up. Now you’re viewed as a problem solver, not just a label. No one needs another label working with them.

Like I said before, this does require that you have and understand your target audience. For most business owners, this is the hardest part. I just wrote a blog post on Fast Company’s site about the benefits of niche marketing that’s right in line with this.

Wrap Up:

Ultimately, a strong elevator pitch or 30 second commercial is what separates you from the pack. Like all effective marketing touch points, if it’s focused on your client & their issues – instead of you and your offerings – you’ll be in good shape.

Your biggest obstacle

Published on October 2, 2007 in Client Magnet Archives, entrepreneur, management and social media. 0 Comments

Regardless of your role within your firm, you have goals. You may have set them yourself or you may have a boss that walked in and laid them out for you. Either way, there are things that need to be accomplished before year’s end or within a few years.

Reaching some goals is pretty easy so I’m not going to talk about low hanging fruit here. I’m going to talk about the goal that either scares you to death or exhilarates you. Take a moment to think about that big goal and answer these
questions:

  • What would it mean to you if you actually achieved it?
  • How would you act differently after achieving it?
  • What would you take on that you’re not currently?
  • What would you leave behind?
  • Why is the goal truly important to you?
  • What’s standing in your way of achieving it?

Good. Those aren’t always easy questions to answer. It’s always better to think about the pot of gold at the end of the rainbow. It helps to put everything in perspective.

Now, let’s focus on what’s standing in your way.

Do you have the skills necessary to reach your goal? Do you have the time? Do you have the energy? Think about what’s holding you back. If nothing is standing in your way, I’d contend that your goal isn’t big enough. Think bigger – dream a little. If you have an income goal that seems well within reach, go a little deeper. You want your big goal to be attainable, but just out of reach. More often than not, we have a mental block around what we can achieve. For some people, there’s never enough time. For others, they’ll never be educated enough or experienced enough. The psychological barrier stops them from moving forward. The attainable goal becomes unreachable and they decide to focus on something else like cleaning their office or tweaking their website.

More often than not, we have a mental block around what we can achieve. For some people, there’s never enough time. For others, they’ll never be educated enough or experienced enough. The psychological barrier stops them from moving forward. The attainable goal becomes unreachable and they decide to focus on something else like cleaning their office or tweaking their website.

We’ve all heard the stories of the uneducated kid that went on to be the top salesman. Or the working mother raising four children while making a six figure income from two jobs. For these people, failure is not an option. It’s not in their vocabulary. They don’t let those limiting thoughts enter their mind. They have a vision for their future and nothing is going to hold them back.

For a lot of business owners, they have a goal in mind, but they’re not sure how to get here. One thing is for sure, what got you where you are today probably won’t get you here you need to be to reach your goal. If business growth is your goal, you have to become a better marketer. You know you should promote your services, but there’s always something better to do. There’s always billable work that pops up; and of course, the office could always use a little cleaning. A lot of business owners are mentally blocked then it comes to marketing their own services. And it seems easy to justify. After all, a steady stream of referrals isn’t a bad thing. No, it’s not a bad thing; but let’s go back to your goals – your vision for your business. Is it performing the way you want it to? To quote Michael Gerber, “are you working on your business or in your business?”

The good thing about mental barriers is that they can be broken down. I spend a lot of time with clients determining their barriers to marketing and helping them turn it around. The process isn’t difficult, but it does require you be honest with yourself.

Your goals mean something. They’re the future of your business. They are your hopes and dreams for your firm. And there are consequences for not achieving them. It may come in the form of lost opportunity. It may seem like your goals are unquantifiable. Yet in my experience, you can quantify almost every aspect of your goals; you just have to keep digging. When you start looking at the lost opportunities that result from burying your head in the sand when it’s time to market, you realize that your business could be completely different. You begin to realize that you’re leaving a lot of money on the table by staying in your comfort zone. If you could no longer think those negative thoughts about marketing, you’d generate more opportunities for growth and profit.

If your biggest obstacle is mental, don’t let that slow you down. Whether it’s getting more training to develop the skills you need or simply changing the way you think about marketing, you control your own destiny. The key is to take action now. Just do something. When you dream big about your business and imagine living the life you’ve always wanted, you’re not going to let a little thing like a limiting mindset hold you back.

Fast Company 6th Annual Fast 50

Published on February 19, 2007 in business, cause marketing, entrepreneur and social marketing. 0 Comments

For the last few years, Fast Company has been promoting profit-driven socially-focused organizations.

Here is the latest Fast 50 list of fifty people of companies that are making a difference in the world.

And here’s a little shameless self-promotion for my posts as an Expert Blogger for Fast Company.

Latest posts on SmallBusinessBranding.com

Published on December 20, 2006 in branding, business, entrepreneur, management and strategy. 0 Comments

SmallBusinessBranding.com is starting to take off. We have a goal of 1000+ subscribers and we are seeing consistent growth. Here are my latest posts:

The Business of Business

A Lesson from the Garage

Lack of Creativity is Killing Business

An employee’s confusion

Published on December 1, 2006 in branding, business, entrepreneur, management, marketing and strategy. 0 Comments

I read this on Hugh’s manifesto request and had to pass it on…

Anna Farmery of The Engaging Brand blog sent me in this manifesto:

If… a brand starts inside, an employee’s confusion

1. If you believe in the strategy, why can’t you explain it?

2. If talent is important, why is promotion based on your social circle?

3. If we are entrepreneurial, why do we make decisions by consensus?

4. If values are important enough to put on a card, why are they not applicable to leaders?

5. If the future is important, why do we spend time in meetings looking at the past?

6. If you embrace talent why, do you only speak to me about my weaknesses?

7. If we aim for a USP why, are encouraged to produce sameness?

8. If we believe in diversity, why are you all 40+, white and male?

9. If we need to cut development and R&D to hit budget, how can you afford a two-day team bonding session in a 5-star hotel?

10. If it is us that interact with customers, why don’t you see we should feel the brand values first?