Small Business Growth Strategies

I recently had a conversation about determining job titles in business. In the corporate world, most titles are dry and boring. One of the many benefits of business ownership is that we can write our own rules. Who says you can’t be the “Chief Prosperity Officer” or declare yourself a “Wealth Specialist.” Here’s a list of words you can have some fun with:

Trainer 
Specialist Strategist 
Adviser Expert 
Mentor

Coach 
Partner 

Consultant 
Chief ___ Officer Professional 
Instructor
Tutor 
Ally
Leader 
Head Honcho
Top Dog 
President
Owner 
Founder
Queen Bee 

written by Stephanie Chandler

It’s hard to avoid the glum news about the economy right now. I know we’re all feeling it at the gas pump and many business owners are also experiencing the squeeze. In some industries, such as real estate, it’s impossible to deny what’s happening. But here’s the thing about doing business in a recession – though it may be off in the distance, there is a light at the end of the tunnel.

Expert opinions vary, but most say it will be two years before a real recovery happens. The way I see it, we have two choices. We can watch the news and complain and worry about it OR we can choose to reject the recession and look for new ways to generate business. Here are a few ideas to help you reject the recession:

1. Marketing, marketing, marketing. Studies show that businesses that continue to market through a recession come out ahead when the economy begins to turn. Though you may be tempted to cut back on business expenses, this is the worst time to cut back on marketing! Remember, marketing should be an investment in your business that produces a return, not an expense. If what you’re doing isn’t producing results, try something else.

2. Reevaluate your products and services. If you sell items or services that rely on your clients having extra disposable income, you need to get creative. Business is about meeting the needs of your clients. For example, if you’re a travel agent and clients aren’t spending on extravagant vacations, you could shift your focus to affordable family get-aways. Or develop a new niche in coordinating family reunions or quick trips for couples.

3. Leverage your existing clients. These are your hottest prospects because they already know and like your business. Offer referral programs, special offers, whatever it takes to get the wheels in motion. Remember to reach out to them repeatedly through direct mail, e-mail, hand-written note cards, events, appreciation programs, etc.

4. Be budget sensitive. Consumers are tightening up their wallets. In order to get their attention right now, you have to give them some incentive. A walk through any department store will show you that sales are abundant. Offering discounts, buy-one-get-one offers, bundled packages and other money-savers can help you attract buyers that might otherwise be holding off from making a purchase.

5. Get everyone on board. Do whatever you can to motivate your staff and to keep yourself focused on the opportunities. Your competitors are struggling too. This is an opportunity to rise above! With the right amount of strategy and effort, it is entirely possible to move forward and even thrive in a tough economy.

If you’ve come up with some creative strategies to reject the recession, I would love to hear about them. Be sure to post a comment or send me an e-mail!

written by Stephanie Chandler

I recently discovered an awesome and affordable tool that allows you to set up a toll free or custom phone number, a phone tree that routes messages to your staff, voice mail with text notification and more. For about $10 per month you can elevate your business image and streamline your answering process! Check out GotVmail. Everything should be this easy.

written by Stephanie Chandler

The following review was submitted by a reader:

Are you serious about growing your business? If so, Million Dollar Networking by Andrea Nierenberg is a must-read for you. Mastering and utilizing effective business networking techniques is the key to building long-term, ongoing business relationships. This enjoyable and informative book provides step-by-step instructions for growing your business through networking.
In Million Dollar Networking, Nierenberg also explains what separates those who are successful at networking from those who just don’t get the concept of building long-term, mutually beneficial business relationships. She shares suggestions for how cultivate the attributes that separate effective networkers from the rest of the pack.
The valuable insights you will gain from reading Million Dollar Networking include:

• A solid understanding about why networking requires giving without the expectation of receiving
• How to connect with “unreachable” contacts
• How to make networking a part of your DNA
• Tips to re-start relationships with former contacts
• Many other practical and valuable business growth suggestions

This book is a valuable resource for entrepreneurs, salespeople, consultants, and any other professionals seeking to build their reputations, credibility, and income. No matter what industry you are in, the tips and suggestions provided in this book can help you take your business to a new level by mastering the art of effective networking.
Book review provided by Mary Gormandy White, training and career expert with Mobile Technical Institute and MTI Business Solutions (http://www.mobiletechwebsite.com). Visit http://www.dailybizsolutions.com for small business marketing, PR, and operations advice. See http://www.dailycareerconnection.com for professional development tips and career advice. 
 

written by Stephanie Chandler

I’ve suffered from insomnia for years and often hear about this issue from fellow business owners and creative people. Our brains are idea factories and it can be hard to shut them off at night. Here are a few solutions that work for me - maybe they will work for you too!

• Step away from the computer at least one hour before bed. Like it or not, you’ve got to cut yourself off.
• Reading before bed can be a good mental holiday, but not if you’re reading something too stimulating. Avoid business books before bed (except for mine, of course!) and stick to fiction or anything that diverts your mind from solving the world’s problems.
• Develop a wind-down routine. Find out what mellows you out at night and do it every night. It might be reading, knitting, talking with your spouse, watching television, taking a bath, etc. The key is to avoid stimulating activities.
• If you climb in bed and the wheels start turning, write it down. I’ve been there - I know how it is to get a hot idea at midnight and then spin on it for hours. Worse yet, you might be afraid you’ll forget it by morning. Keep a notepad and pen next to your bed and put it on paper. Resolve to revisit it in the morning. One advantage is that clarity often comes over night. Sometimes an idea that seems amazing at night can seem like a dud the next day.
• Instead of thinking about business, ideas, etc. when you climb in bed, think about simple things like your next vacation or your plans for the weekend. My husband says he just shuts his brain off when he climbs in to bed (how annoying is that?). Some of us aren’t so lucky and in my experience, we must keep looking for ways to improve the sleep situation.
• Stick to a schedule. All the experts recommend this. If you need to catch up on rest, go to bed earlier instead of sleeping in. I hate waking up at 6am every day. If it was up to me, I’d sleep until 9 and go to bed at 3am. But the world doesn’t work that way and by getting up at the same time each day, we adjust our body clocks. Even if you’ve only had a few hours of sleep, get up and get through the day. Odds are good that you’ll sleep better the next night.

Wishing you sweet dreams!

written by Stephanie Chandler

I’m often asked how I find time to write books and articles and develop new information products. When I started writing books, I used to carve out an hour or two each day. Today I’m just too busy with commitments and family to keep this up so I have a new answer: chunks of time. Whenever I manage to carve out some extra time, I tackle a writing project. Most importantly, I SCHEDULE time to write. For me, this is a matter of completely checking out of my life and into a hotel!

Yep, I have a couple of favorite spots. Some are close to home, others require a nice drive (Lake Tahoe!). I used to take myself on mini writing retreats a few times per year. Now I try to do this every 4 to 6 weeks. Once I check in, I can write for hours on end. I try not to let anything distract me and instead focus on the goal at hand. This has been a wonderful career-building strategy. Plus, it’s a great excuse to get some time alone - something us moms don’t get too often. Maybe you can try it too?

written by Stephanie Chandler

I’m not an advocate of using free software or tools to run a business (with a few exceptions, such as Google applications). I prefer to invest in tools that I can rely on for the long haul (Adobe Acrobat PDF Creator, for example). But there are plenty of free tools out there that can be useful to enhance your business. CNET’s Download.com has a wide variety of freebies ranging from forms and templates to software and games. Downloads are listed as safe, trusted and spyware-free. You can find some great stuff here!

written by Stephanie Chandler

If you’re ready to rent an office or lease a building, finding the right opportunities can be a challenge. I know many business owners who have spent countless hours driving around town looking for space. Here’s an easier way to do it: check out Loopnet. It’s the primary online destination for locating commercial space for rent or purchase. Also, Craigslist offers commercial listings in most major cities.

written by Stephanie Chandler

Dave Cosper from America’s Best Companies Magazine assembled a list of the Best Small Business Blogs You Might Not Know About that includes a link to this one! It’s an honor to be on the list as I am in good company. Thanks, Dave!

Here’s a round-up of the best small business blogs:

Small Biz Survival

Flyte: Web Marketing Strategies for Small Business

The Entrepreneurial Mind

Duct Tape Marketing

Retail Email

Church of the Customer

Small Business Brief

Small Business Trends

Small Biz Mentor

Small Business Growth Strategies

The Savvy Entrepreneur

Seeds of Growth: Ideas to Help a Small Business Grow

written by Stephanie Chandler

I do a lot of speaking and between that and trade shows, I often have a table or booth to display my stuff. Here’s my best tip for making these events easier on you:

Pack a rolling suitcase! I have two suitcases - a smaller one for low-key events and big one for trade shows. I use these to easily tote along my books, brochures, display stands, basket for collecting business cards, give-aways, a table cloth, etc. I also keep them pre-packed and ready to go so I don’t have to panic and figure out what I need each time. Another must-have item is an expanding accordian-style file where I keep copies of my various handouts and my notes for each of my various presentations. Again, this makes life so easy since I’m prepared for any speaking opportunity.

Incidentally, I take a similar approach for traveling and always have a toiletries bag packed and ready to go at a moment’s notice. Not that I often jet off on short notice, but when I do get the opportunity to head out of town, I have a set of everything I need ready and it saves a lot of time.

written by Stephanie Chandler