Continuing the Entrepreneurial Journey Theme

In my last article,  The Entrepreneurial Journey, we explored individual passion and making a directed decision regarding our business vision.

  • What is our business?
  • What is our mission?
  • What resources are necessary?
  • What does an ordinary day look like and how do you want to see that improve?
  • Whom do we seek?
  • Why do we seek them and where are they?
  • How are our goals going to be met and are they of benefit?
  • What MOTIVATES me?

That was only the beginning…

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Compliance Is Key

In today’s business environment a key to success is to stay under compliance with State and Federal regulations, along with being able to streamline business payroll and HR in a seamless and efficient web-based system. Often small to medium size companies don’t realize that with hiring one employee, they now have the same responsibilities as a company that has 1000 employees in terms of hiring, processing corrective action, terminations etc.

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If you are thinking about selling your business in the short term, there are some areas you can improve now that will increase the value of your company to potential buyers. Here are four of the most common things a business owner can do right away.

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Sales and marketing drive business success, and having a strong marketing message when key sales opportunities arise translates into accelerated business growth. The problem: Not knowing what to say in the moment that a key sales opportunity arises.

Top 10 Key Marketing Opportunities Lost or Underutilized

  1. Business mission statement.
  2. Description of business services.
  3. Elevator speech opportunity.
  4. Elevator speech follow-up
  5. Networking opportunity.
  6. Opportunity to acquire the first client interview.
  7. Low risk introductory offer.
  8. Conducting the first client interview.
  9. Client upsell opportunities
  10. Client de-briefing (review value, get testimonial, get referrals)

Knowing What to Say Helps You Seize the Moment

Imagine, if you knew what to say in these instances, how this would help you maximize these opportunities and increase your business. Create and master template messages for each of the above marketing opportunities.

Regularly review your key marketing messages:

Many things change over time:

  • The market
  • Your business
  • Your own interests
  • The relevance of your products and services

A new business should review these key messages every 6 months. An established business should review these key messages at least once each year.

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The Entrepreneurial Journey

Don’t Begin the Journey with a False Start

When one becomes of age to find a place to participate within the culture and society you find the overwhelming obstacle of choice. It’s a jungle out there, where do I fit in? What do I do? But jungles have great treasures and hidden secrets. There are lost riches, resources and discoveries. So, the first stage is not to be an employee. The first stage is not to Work for someone else, learning from that employer so one day you can be an employer. That’s Stage 2.

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Poor Phone Skills Can Seriously Damage Business Profitability

Did you ever experience a phone call go bad, and you didn’t know why? You couldn’t recall anything negative you said, but you received a negative result? Perhaps the person on the other end of the line decided not to schedule a meeting with you, or not to buy a product or service, or they didn’t seem to trust your opinion, or they asked to speak to someone else. You ended up feeling rejected or incompetent, or just decided you were having a bad day. It was all made worse when someone else spoke to the same person and got a positive result, even though they used the same argument, even the same words!

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Put the Odds in Your Favor

Many business owners are surprised at the level of activity and demand required to start a new business. Without some basic elements in your favor, you’ll be running a hard up-hill race with many obstacles. The good news is that with a little preliminary thought your can arrange the odds in your favor. How to do this?

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Why Is It Important to Define Your Corporate Culture?

Have you had an employee quit, and when asked why they are leaving their answer is “better opportunity”, “more money”, or “I found something better”. I am here to tell you that 90% of those employees left because of you and your company’s culture (or lack of culture). As we discussed in our previous article, turnover is a company’s largest hidden expense. Not defining, and living your culture daily, is killing your bottom line.

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