Super Bowl Musings

Super Bowl XXXXII is now history. The New York Giants ramped up a 17-14 win over the Pats, spoiling their perfect season.

The Pats played a perfect season and still lost the championship. And this year’s champs will suit up next season and none of this will matter.

Business owners and athletes have much in common. Running a business requires intense focus and dedication. You can’t just show up on game day and expect to win. You must practice, prepare and do the work day in and day out.

Like athletes we have W's and L’s in our column totals but every game stands alone. We know that our record has historical validity but we don’t allow it to dictate our continued pursuit of absolute excellence.

The Pats will feel the sting of their loss for some time to come. But they will use that loss to fuel their drive when they suit up next season. The Giants will ride the waves of celebration and savor their remarkable feat. They too will find motivation in their victory when they suit up to try to do it all over again next season.

For the business owner, well, we play everyday as if it’s the Super Bowl. And we all hope to take home that trophy year after year.

Karen

All the World’s A Stage

My stomach quivered with excitement as I sat riveted by the words spoken by the actors on the stage. However, I was not moved by the performances as much as the thought of the playwright who had written the dialogue now being spoken on this stage.

I leaned in closely to capture the texture, ideas and power in the playwright’s words. Once again, I was my 5 year old self in love with the ability to tell a story.

All these years later (and trust me I am decades past 5!) my fascination and respect for those who write has not diminished. In fact, today I believe I have a greater appreciation for those who dare to inspire, educate, inspire, engage or entertain with their words.

So how does this translate in business? Writing for business is no less powerful. Your audience is (potentially) rapt with attention and you have the power to persuade them to listen to your thoughts, ideas, solutions and passions or you can cause them to leave at intermission.

Well developed characters and tightly woven plotlines will peak their interest and have them on the edge of their seats as they anticipate the next act. And like the playwright you must tell a story that is meaningful to you and will resonate with your audience.

The next time you sit down to write for your business respect the power that your words can have and then write not only from your head but from your heart – your audience will thank you by sticking around for Act 2.

The Road to Success is Paved with Giving

I received my weekly e-newsletter from Jeff Crilley, TV Reporter and in it he writes:

“Whether you are having a Starbucks with a potential client or trying to pitch the media a story, it is important to remember--- IT IS NOT ABOUT YOU!

I run into a lot of people who say they are networking. But I have discovered that if you go into any relationship with YOUR goals in the forefront of your mind, you will fail.

Try this the next time you are approaching a member of the media or trying to attract a new client or customer---help them first.”

I could not agree more. I am a huge proponent of AUTHENTICITY in marketing. Authentic according to the dictionary is to be genuine, real, not false or copied. I believe that for your marketing to be authentic you must create real connections with your market. Connections which are only possible when you truly care about their needs and wants.

Are your marketing materials all about YOU? When speaking with potential customers are you more interested in what you can sell them than what they need?

In his newsletter, Jeff quoted one of my favorite Zig Ziglar quotes: “You can have everything in life that you want if you will just help enough other people get what they want.”

Try implementing this simple philosophy into your networking and marketing. I guarantee that if you look for way to help others get what they want your business and life will be richer than ever imagined.

2008 The Year of the Meltdown?

A scant two weeks into the New Year and the keyword in headlines seems to be meltdown. Hillary Clinton, Miley Cyrus and Paula Abdul have all reportedly had one, and poor Britney has had several. These personal meltdowns are all in addition to the Capital One, subprime mortgage and global meltdown. What’s going on?

Has the year of the DUI given away to meltdowns? Will we now have teary eyed public confessions followed by stints in rehab for meltdowns? Well, count me out. I’m happy and make no apologies for it. Not only am I happy, I’m downright giddy. Take that you negative naysayers!

It’s a brand new year with brand new opportunities. In spite of the writers strike, the wobbly US economy and the continuing mortgage crisis, I’m optimistic.

Tales of meltdowns, break ups and disasters are the normal ups and downs of life. The headlines spouting them are not a trend in meltdowns but a trend in our insatiable demand for negative news.

It seems we North Americans enjoy a good train wreck. We want to look away, we want to bypass those headlines but we just can’t seem to avert our eyes. So we keep getting more of the same.

Business owners have even resorted to courting controversy to capture attention. Can you blame them? It seems the only way to get attention these days is to cash in on the controversial. Negativity has become the new “sex sells.”

I don’t know about you but I’d rather remain upbeat and positive. I want to attract new clients by being, well nice. I probably surf hundreds of blogs each week. There is a great deal of quality content out there. There is a also a dark underbelly. I’ve been to blogs that have more traffic than a Southern California freeway during rush hour, but I cringe when I read the comments.

Readers are not only nasty to the blog author but nasty to others commenting. Many other blogs have managed to really develop a nice community. These blogs have great content and great readers who are kind and supportive. I’ll take that any day even if it means a few less traffic hits.

What you can Learn from Kiefer Sutherland

Kiefer Sutherland, star of 24 is currently serving a 48 day jail sentence for a DUI. His popularity with fans has apparently not suffered. Kief is receiving boatloads of fan mail in jail.

Surviving a setback is not limited to celebrities. Many companies have not only made it though a crisis or bad publicity but emerged better and stronger. What’s the secret?

Fess up. Acknowledge your mistake and work to make it right. Whether you are dealing with one irate customer or a major recall, “We were wrong, we’ll fix it” goes a long way.

Learn from it. Adversity has a way of making us stronger. Take the time to assess what went wrong and why. What systems can be put in place to prevent the error from happening again? Don’t fix a problem one time, fix it for all time. If a customer brings something to your attention, standardize the solution.

Actions speak louder than words. Kiefer Sutherland admitted his mistake, apologized to his bosses and quietly made arrangements to serve his time. He did not make the talk show rounds with a tearful apology and public plan for redemption. Once you’ve acknowledged your error and set about fixing it. Let your actions continue to speak for you.

Bad things happen – in business and life. How you handle the tough times can show your customers (and competitors) what you’re really made of.

Is Your Business on Welfare?

Recently a writing colleague posted an article on the Elance water cooler. The article written by Ron Lindeboom, highlighted the three different buyer types. The article is several years old, but the principles still hold true.

Lindeboom discusses the three marketing types and groups them into top tier, middle market and low end. The top tier clients representing about 15% of your client base are those that value quality and relationship. The middle tier represents about 70% of the market and they want good but fair pricing. The low end wants high end service for cut rate prices. Lindeboom calls the low end segment “Grinders.”

As a business owner, why would you ever want Grinders? Yet, far too many businesses, particularly small businesses fight for this client type. Understanding the psychology of the client segments is important but it’s equally important to understand what type of business you are.

Many small business owners are standing in the welfare line and not sure how they got there. They work hard. In fact they may be working longer hours than CEOs of Fortune 500 companies. They deliver high quality work. Yet, they are barely making ends meet. These businesses are well intentioned but are not appropriately targeting their market or pricing their services.

Other small businesses are locked into a mentality that says they can only compete on price. To win against the “more established,” or “the “larger competitors” they have to compete on price. Does this sound like you?

Still others believe that volume makes up for low pricing. These business owners proclaim “yes our pricing is low but our volume supports it.” These same business owners would like to convince you to work at a fraction of your normal fees because they’re going to give you a large amount of work.

Although I’m humiliated to admit it for a long time I too had a business that was on welfare. My company was turning out high quality work and a sucker for every sob story that justified someone negotiating our rates lower. We wanted to help and by golly help we did to the detriment of our own profit margin. In fact our margins were negative!

I’m here to tell you “Don’t try this at home! You’ll go broke!” I am a big believer in volunteering, giving back and charitable giving. However, when running a business you must realize you exist to make a profit. You can set a fixed amount of time aside to donate business services (and I advocate doing so) but your day to day operations should be generating income.

Let’s look at this from another angle. In corporate America, did your employer negotiate your salary daily? When you showed up for work, did HR say, “Gee you know right now our budget is stretched, so can you work 3 extra hours for half your salary?” Of course not! Yes, companies get into budget trouble and they often solve it by doing lay-offs or salary freezes but no company negotiates your pay (or value) on a daily basis. So why are you doing this in your own business?

Negotiation is a natural part of doing business. Negotiation however is an exchange and not the seller simply giving everything away. It is an exchange to work toward a mutual win where the critical needs of BOTH parties are satisfied. Great negotiations end with all parties feeling like a winner and it sets the stage for a good long term relationship.

However, you are not obligated to negotiate price with every potential client. When you walk into the grocery store to buy a gallon of milk, there is a price you will be required to pay. Do you get to the register and ask to pay a different price? Do you ask them to give you more milk for the same price?

Yes, I realize milk is a commodity and service businesses operate a little differently, but do you negotiate price with your doctor, dentist or hair dresser at every visit? We ask for lower pricing when we beleive the price does not reflect the value but more often than not we simply pay what is asked or we don't buy.

So, how do you begin turning things around? The first step is to examine what you have to offer. What does it cost you to provide the service? What is the value of that service to your ideal client (ideal being key here as you are not targeting grinders)? Set a fair price and stick to it. Your ideal client will pay you for the value. Grinders will not buy from you.

You may end up with fewer clients, but that’s a great thing. You want fewer clients that pay you what you’re worth. Unless of course you really do want to spend your time killing yourself for the pennies that grinders are willing to pay.

I’ve learned the hard way that clients will only value what I have to offer if I first realize that value myself. This means getting off welfare and saying No to the people who really can’t afford my services. Am I missing out on a large segment of the market? Yes, I am but it’s a segment that does not represent my ideal client anyway.