Don’t Get Derailed by Downtime

Posted on January 4, 2011. Filed under: networking, referrals | Tags: |

10 Ways to Keep Your Momentum Going

by Mindy Charski

It’s the new year, and with it, business owners hope, come busy days ahead.

Of course, there will likely be some slow periods, too. Rather than dread these downtimes, plan to use them to your advantage.

“A slowdown in business can actually be a great thing because it gives you the opportunity to ramp up for an even better future,” says Dan Coughlin, author of “Accelerate: 20 Practical Lessons to Boost Business Momentum” (Kaplan Publishing, 2007).

Indeed, a temporary drop in customer requests means there’s more time to spend on endeavors that can improve your business. Here are some to consider.

1. Enhance Your Brand

Coughlin suggests business owners ask themselves:

  • What makes their products or services effective for customers?
  • What is effective about the way they deliver value for customers?
  • What value do people perceive they get from the business?

Business owners should then ask how they could improve in each area.

“Write down your answers,” Coughlin says. “You now have a to-do list of what to do when times are slow.”

2. Polish Your Marketing

Think about whether you’re targeting your message to the right people and reaching them through the best, most cost-effective vehicles.

“Look at where your customer base has come from,” says Angie Mohr, author of “Finance & Grow Your New Business” (Self-Counsel Press, 2008).  “If you spent $1,200  for a Yellow Pages ad, how many customers did you get from the ad? Did that actually make financial sense for you to do?

Likewise, get started on creating a Web site if you don’t have one; if you do, spend time navigating your site to spot areas for improvement. You can also begin showcasing your expertise on your own blog.

3. Invest Time in Current Customers

“My best clients refer the best people,” says Pamela Barc, who offers etiquette training through her company, Etiquettes Edge in Lake Orion, Mich. “Someone once said, ‘You don’t need to work hard to obtain more clients, just treat the ones you have like kings and queens.’”

During slower times, Barc says she keeps a “periodic presence” by sending hand-addressed birthday cards, for instance, or notes of encouragement about client accomplishments.

“Sincerity cannot be faked, but sincere caring has always produced positive professional results,” she says.

4. Boost Business Alliances

“Normally during the hustle and bustle and during the busy times, you don’t have the opportunity to strengthen the relationship like you normally would,” says James B. Evans, assistant region director for the University of Houston small Business Development Center Network.

Invite your clients, suppliers, and prospective customers to lunch, perhaps or to join you at a sporting event.

“Talk maybe five minutes of shop and then try to enjoy whatever social event it is,” Evans says. “Don’t make it a total business event.”

If you have business partners that serve as sales channels, ask if they’d like help from some of your staffers who don’t have full calendars.

“Whatever you can do to make that partner more successful selling your product, I would do,” says Steve Clark, vice president of business incubation services at TechColumbus, a nonprofit that supports the growth of Central Ohio’s tech economy.

5. Attend to Financials

Get caught up on your bookkeeping to know what your current numbers are, Mohr suggests. Then, take a look back.

“It’s a really good time to sit down and take a breather and look at the history of what’s happened,” Mohr says. “Make sure you know why your revenues were two-thirds of what you thought they were going to be, and make sure you could actually say that out loud if you had a board of directors to report to.”

Next, do financial planning for the future. Look at your business plan for ways to improve revenues and profits.

“A lot of small-business owners don’t understand a business plan is a living, breathing document and it should change as circumstances change,” Mohr says.

6. Declutter

Every business can benefit from cleaning out the stacks of paper and other stuff that seem to haunt its owners.

Shedding “clears your mind from the distraction of old things hanging around,” says Julie Morgenstern, author of “When Organizing Isn’t Enough” (Fireside, 2008).

But while many things in those piles are probably now obsolete, Morgenstern says there may also be “treasures” that can help “catapult you forward” in your business.

Old business cards could lead to new prospects. Forgotten magazine articles could jump-start new product ideas. To figure out what to keep and what to toss, ask yourself what you would miss if it all disappeared, she suggests.

Examine your client roster in this same light. Should you be saying goodbye to problematic customers who require inappropriate amounts of time?

“There’s no way you can get more high-quality clients if your time is bogged down with time-consuming bad clients,” Morgenstern says.

7. Organize

It’s different than shedding, says Morgenstern.

“Organizing is all about creating systems so that you function better,” she says. “You can get organized without throwing anything out.”

Just don’t try to shed and organize simultaneously. “It’s too many things to think about at once,” Morgenstern says.

Of course, it’s not just paperwork that may need organizing. Also consider rejiggering the workload among staffers to gain confidence.

8. Hone Your Hiring Approach

Before you’re suddenly faced with the need to hire, visualize the ideal candidate you’d like to bring aboard for each position. Study the factors that help your top talent excel, including their thinking style and drive.

Use this information to help craft help-wanted ads and interview questions for future job candidates.

“Once we know what makes the top performers really perform, we can hire and coach to that benchmark,” says Jay Hargis, a Boston-based vice president at Profiles International, which offers organizations candidate assessment and employee development resources.

9. Educate Yourself

Hargis like to catch up on industry reading during downtime. “Keeping current is so important and it is always a struggle,” he says.

Why not browse through trade publications to learn about new trends and the latest moves of your competitors?

Attending pertinent conferences and workshops can keep you up to date, too.

In addition, consider learning new skills and brushing up on old ones. One convenient option: online courses.

10. Take a Vacation

Yes, your micro-business can benefit when you take a break to relax and refresh.

“Most of my best business ideas came to me when I got away from my business,” Coughlin says. “Business is about applied energy toward creating value for customers. You need to get away so you can have the energy for the customers.”

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11 Public Speaking Pointers

Posted on November 8, 2010. Filed under: speaking | Tags: , |

A SUCCESSFUL SPEECH SHULD ALWAYS END WITH A STANDING OVATION – HERE’S HOW TO GET YOURS.

 

When I started public speaking in the mid-1980’s, I was deathly afraid. It’s taken me 20 years to get comfortable. I hope many of you are called upon to give speeches – it’s the closest thing to being a professional athlete that many of us will achieve. Here are 11 tips for giving great speeches.

 

HAVE SOMETHING INTERESTING TO SAY. This is 80% of the battle. If you have nothing to say, you shouldn’t speak – end of discussion. It’s better to decline the opportunity so no one knows you don’t have anything to say than it is to make the speech and prove it.

 

CUT THE SALES PITCH. The purpose of most keynotes is to entertain and inform. It’s seldom to provide you with an opportunity to pitch. For example, if you’re invited to speak about the future of digital music, don’t talk about the latest MP3 player your company is selling

 

FOCUS ON ENTERTAINING. Many speech coaches will disagree, but the goal of a speech is to entertain the audience. If people are entertained, you can slip in a few nuggets of information. But if your speech is dull, no amount of information will make it great. If I had to pick between entertaining and informing an audience, I would pick entertaining, knowing that informing will probably happen to.

 

Understand the audience. If you can prove to your audience in the first five minutes that you understand who they are, you’ve got them for the rest of the speech. All you need to understand are the trends, competition and key issues facing the audience members. This simply requires consultation with the host organization and a willingness to customize your introductory remarks.

 

Overdress. My father was a politician in Hawaii. When I started speaking, he gave me this advice: Never dress beneath the level of the audience. That is, if they’re wearing suits, you should wear a suit. To underdress is to communicate, “I’m smarter/richer/more powerful than you. I can’t take you seriously, and there’s nothing you can do about it.” This is hardly the way to get an audience to like you.

 

Don’t denigrate the competition. By denigrating the competition, you’re taking undue advantage of the privilege of giving a speech. You’re not doing the audience a favor. The audience is doing you a favor, so don’t stoop so low as to use the opportunity to slander your competition.

 

Tell stories. The best way to relax when giving a speech is to tell stories–any stories: stories about your youth, stories about your customers, etc. When you tell a story, you lose yourself in the storytelling. You’re not “making a speech” anymore. You’re simply having a conversation. Good speakers are good storytellers; great speakers tell stories that support their message.

 

Precirculate with the audience. Here’s how to heighten the audience’s connection with you: Talk to them before the speech–especially the ones in the first rows. Then, when you’re at the podium, you’ll see these friendly faces. Your confidence will soar, you’ll relax and you’ll be great.

 

Speak at the start of an event. The audience is fresher. They’re more apt to listen to you, laugh at your jokes and follow your stories. On the third day of a three-day conference, the audience is tired, and all they’re thinking about is going home. It’s hard enough to give a great speech–why increase the challenge by having to lift the audience out of the doldrums?

 

Ask for a small room. If you have a choice, get the smallest room possible for your speech. If it’s a large room, ask that it be set classroom style (i.e., with tables and chairs) instead of theater style. A packed room is more emotional. It’s better to have 200 people in a 200-person room than 500 people in a 1,000-person room. You want people to remember, “It was standing room only.”

 

Practice, and speak all the time. This is a “duh-ism” but nonetheless relevant. My theory is that you have to give a speech at least 20 times to get decent at it. You can give it 19 times to your dog if you like, but it takes practice and repetition. There’s no shortcut to Carnegie Hall. As renowned violinist Jascha Heifetz once said, “If I don’t practice for one day, I know it. If I don’t practice for two days, the critics know it. If I don’t practice for three days, the audience knows it.”

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