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What are entrepreneurship characteristics? It’s an important question when you’re considering self-employment. It’s natural to want to know if you have what it takes before you move forward.
Ask yourself these important questions: Are You a Visionary? A primary difference between an employee and an entrepreneur is motivation. Some people are perfectly happy doing the same job or working in the same industry until retirement. They find the consistency comforting, but for others, it’s not enough. Entrepreneurs see new or better ways of doing things and won’t settle for the status quo if it ignores a gap in the marketplace or performs less than optimally. This drive for innovation and change can get them in trouble in a traditional job since their bosses may misinterpret their ideas as criticism. Entrepreneurs are often outspoken, opinionated, and demanding. Entrepreneurs can’t understand why others don’t see their vision and they crave success in many ways, including a better work/life balance.
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 Printed marketing and sales materials play a crucial role in securing customers for your business. Unfortunately, too many businesses use the “set it and forget it” method of creating collateral. While some pieces can be used for a while without trouble, others might quickly become outdated. We rely so much on our websites and social media that sometimes those materials are forgotten, yet they are being passed around to potential customers all the time. It’s smart for businesses to get in the habit of auditing their printed materials and refreshing them regularly. Even something as simple as your business card may be due for an update! Why should you audit your collateral?
Using fresh, up-to-date marketing and sales collateral ensures that you accurately represent your brand to customers. These materials should speak to your brand, demonstrate what your business does, and showcase your current offerings. If your print materials are irrelevant, it can cause confusion or frustration among buyers. Depending on how much your branding or your business has changed (think Covid-19), the materials might not even be effective for your target market at all! If your goal is to persuade customers to make a purchase, you want to ensure your messaging is both accurate and fresh. When should you do a collateral audit? It’s a good idea to revisit these materials every three months, or once a season. Not only will this help your team catch necessary updates, but it also allows you to capitalize on seasonal promotions and align with seasonal trends in your industry. There are other times you may want to update, or better yet create seasonal materials you can stock and reuse. Change or add:
Twenty-twenty was a stressful year for many of us. With the arrival of 2021, everyone has seen the need and desire for empathy, compassion, and connection. Now is the time to project optimism and lead with compassion and approach our customers with empathy.
Your customers become your greatest assets and ambassadors when they see you genuinely care about them. Compassionate businesses grow a passionate and loyal community of partners. Here are some key positions for your business to introduce:
Remember, passionate customers are loyal customers. Loyal customers are consistent customers. And consistent customers get us through inconsistent times.  These are tough times and most, if not all, industries are being impacted in some way. The world is frightened and wary. There are many things that businesses must consider when it comes to the Coronavirus COVID-19 and somewhere near the top should be your marketing and sales efforts. While it’s understandable that this is not your top priority, if you choose this time to lose sight of marketing when the virus is over, it will be that much more difficult to recover. It is important to remember in your marketing and sales process that everyone's first thought right now is about their health and their family. After that comes business. Always be sensitive and empathize with your prospects.
Let’s look at how your business can move forward and possibly grow during the virus. Move everything online The most obvious issue with COVID-19 is that we’re not out shaking hands and meeting people, and this may go on for a substantial amount of time. Because of that, local events are all canceled and conferences all around the world are being canceled. People are beginning to worry about business events all the way into the Fall. Companies that rely on in-person interactions to grow need to focus much more heavily on digital marketing and inbound marketing tactics. That means developing a strategy and executing immediately. There is no time to delay here. Inbound marketing can take some time to start showing big results so the sooner you can start, the better. Consider quick-win opportunities As I mentioned, inbound marketing takes time, but there are some quick wins. Start looking into utilizing pay-per-click advertising through Google as well as social media networks like Facebook, Instagram, and LinkedIn. Paid advertising can produce some quick results while the other inbound marketing tactics are ramping up. You may also want to consider targeted outreach on LinkedIn, especially if you're in the B2B sector. Do some research on your prospect businesses and then connect with the decision-makers or target persons at those companies. TIP: Don't approach your outreach strictly from a sales standpoint. Be helpful and share content that is important to them. If you educate, you can win. Stay consistent online Consistency is one of the hardest things to keep in times like this, but it's extremely important. Google has made it clear that consistency is a big factor in how they rank. That means that if you've been blogging every Tuesday, it's important to keep blogging every Tuesday. When tough times hit, usually marketing is one of the first things to be evaluated and sales often immediately cut. By cutting your marketing budget, you may save some dollars today, but you'll be sacrificing more dollars later. Consistency is key for ranking and if you give up consistency with inbound marketing, you're going to start losing all you’ve worked for. That can mean your website traffic, your authority, your search engine rankings, even your engagement within social media. This may be your chance to find new and creative ways to reach your target audience. Think outside the box. Take advantage of new opportunities While most people are looking at the Coronavirus as a hardship, for some businesses it can be an opportunity. And regardless of how the opportunity arises, it's your responsibility as a business to capitalize. If your business benefits from everyone being home, or keeps people healthy, or keeps kids entertained while they're out of school, or delivers products to people at home — USE THIS TIME! There is a huge opportunity here and people genuinely need your business. Now is the time to double your marketing and sales initiatives and reach more people. I know this may sound thoughtless or maybe even irrelevant to your business, but I beg you to not make any drastic decisions that will still be affecting you after this virus is over. Keep moving forward and set yourself up now for a great finish to 2020. Managers are often reluctant to delegate as many believe in the adage that “if you want something done right, you must do it yourself.” Although this may be true in some cases, a core component of leadership is getting work done through others.
Why do managers under-delegate? Although the number one reason why most managers under-delegate tasks is the fear of failure due to putting important tasks in someone else’s hands, there are other reasons too. Some feel that proper delegation takes longer than simply doing the task themselves, and others even question their own ability to choose the right person for the task. However, by realizing the benefits of delegation, it is possible to overcome these objections. Four benefits of delegation: 1. It keeps You from multi-tasking/taking on too many projects at once. Today’s managers are driven to succeed, and often take on more projects than they can handle alone. The fear of failure drives them to avoid delegation for fear that someone else will not get the job done correctly. When managers are juggling priorities at the same time, they are more likely to make mistakes. 2. It builds trust, open communication, and engagement among team members Another benefit of delegation has to do with building trust, a feeling of openness, and engagement among team members. Leaders who fail to delegate adequately often have employees who are afraid to take initiative or who feel apprehensive about bringing new ideas to the table. Managers who delegate tasks adequately help to build trust and that trust is driven even further when those managers remain open for communication and listening. 3. It stimulates creativity and develops skills in your team Those who give their team members the freedom to tackle delegated tasks in their own way are empowering their team and giving them a creative license. These employees become driven to succeed, not only for themselves and their own futures but also for the future of their employer. What’s more, this personal initiative can lead to creative breakthroughs, which can benefit everyone involved, and it helps team members build some very specific skills along the way. 4. It creates a positive business culture Perhaps the best reason to delegate tasks to others has to do with the type of business culture a leader hopes to create. Delegation helps to boost team morale, improve efficiency and productivity, and promotes enthusiasm, innovation, and cooperation. Although delegation is vital to the success of any company, it is important for managers to remember that it is not a way to push off unsavory tasks to others. What’s more, leaders should never micro-manage delegated tasks. They should delegate effectively and offer communication and support but allow for autonomy and creativity at the same time.
On the plus side, despite the potential problems — which can be overcome if handled carefully — hiring through referrals represents a huge savingsto employers, who can dispense with the often exorbitant costs of advertising as well as the considerable time that is typically required to sift candidates and go through the interviewing process.
These savings, however, are minimal compared to the other benefits of hiring referred candidates, because the latter have been found to work harder and stay longer than candidates who are hired through other more traditional methods. Not only does the employer winin terms of increased productivity, but in retaining the individual’s services for longer, they also avoid staff replacement costs, which can, in some cases, amount to up to ten times the employee’s annual salary. Consider these facts the next time you hire. How will you market correctly if you do not know to whom you are addressing?
Nothing is worse than the assumption that “anyone” can be your client. Or, that all marketing will work for every audience. Secondary to new clients, keeping your current ones satisfied and happy can be hard work too. This is where demographics come in. An upper-income mother in her 30’s is going to have completely different expectations than a small business owner in his 50’s. There are five main areas you need to consider when defining the demographics of your audience (s):
Research All the Opportunities for Marketing Your Business One of the smartest things a small business owner can do for his or her business is take the time to develop a small business marketing plan that will set them apart from the competition. A marketing plan clearly outlines how you will reach your ideal customers by effectively implementing your marketing strategy. There is no one-size-fits-all solution, so planning is so important. Creating a small business marketing strategy is a crucial first step in starting a business. In truth, understanding small business marketing in one fell swoop is a tall order, and new marketing tactics emerge every day. Depending on your goals, customer base, market niche, branding, and simple preference, a marketing tactic that works for one small business may not work at all for yours. There are thousands of ways you can promote your small business. With the right mix of activities, you can identify and focus on the most effective marketing tactics for your small business. Honestly Define All Audience(s) You are Addressing You must seriously think about defining the audience to whom you’re actually marketing. Because you can’t truly achieve goals, like converting more leads into paying customers, if your message simply isn’t resonating with your potential consumers. One of the ways to conduct this research is simply to reach out to existing customers, friends, or business associates with whom you have a good relationship. Ask them: what is it about my company you like? Do the services/products I supply alleviate issues for you? Why would they choose your business over your competitors? How would they describe your brand? More importantly, gather data on your target audience’s demographics, like their average age, gender, spending capabilities and habits, profession, and geographical location. Listen to Your Customers You need to listen to what they say and what they don’t say. Customers may say they want one thing and really mean something else. For example, if you customers are begging for lower prices, you may find out their real priority is value for their money. Also, listen to your “silent” customers. These are the customers that don’t bother to complain because the service is so bad they’ve just given up and don’t feel like their voice matters. They feel unwanted and when a competitor shows up, they’ll be gone. Lastly, you need to listen to customers who only reply with “fine.” These customers are usually either unhappy and just answering monosyllabic or they feel that their response just won’t matter to anyone. Sincerely Ask Your Customers What They Want If you aren’t sincere when you ask their opinion, they are going to see right through you. You may be thinking, “What about the customers who aren’t saying anything?” You need to ask them sincere questions that get them thinking about their experiences. Make them feel like you really care, and you should! Know When to Ignore Them You may think this goes beyond providing good customer service, but in reality you can’t give them everything and some people you can never make happy. You have to set limits and stick to them. If your vision and company don’t meet the needs of the customer, they will be best suited somewhere else. Conclusion When you finally have your plan in place and have done your demographic research, it is time to break down your audience but don't break down your target too far! Remember, you can have more than one niche market. Consider if your marketing message should be different for each niche. If you can reach all niches effectively with the same message, then maybe you have broken down your market too far. Also, if you find there are only 50 people that fit all your criteria, maybe you should reevaluate your target. The trick is to find the perfect balance. Video is an integral part of the online experience, and no site hosts more videos than YouTube. The site boasts more than 3 billion video views per day, making it an excellent place for businesses to find consumers.
Viral YouTube is the home of the viral video, the term for a video that spreads quickly to a large audience on the Internet. Businesses can use other social media sites, such as Facebook or Twitter, to direct consumers to YouTube videos. You should also post your YouTube videos on your website for further recognition. Channels On YouTube you can host your own channel. This allows you to centralize an online location for all manner of videos related to the product or service that you are marketing. You can update, revise or create completely new videos about your product or service, while maintaining an outlet for related videos. Businesses have the option to establish a free user channel, such as the one many individuals create, or pay a fee to host a branded channel, which gives you more options and features to improve the pages. Measurement One of YouTube's greatest strengths is the way it allows you to track the number of views each video is receiving. There are no complicated searches or evaluations necessary. Instead, the number of viewers for each video is posted right beneath the video image. This allows you to gauge instantly how widely the videos are being received, and how successfully they are finding an audience. You can also see how many people are recommending your video or commenting on it. Advertising In addition to brand channels, YouTube offers other options for marketers attempting to reach the site's many users. These opportunities include buying advertising on the home page or buying advertising that runs beside certain videos. Also, make sure that you are using your keywords to ensure more recognition in searches. |
Boost Your BusinessMaria NovakI have over 35 years' experience in Marketing Small Businesses. Categories
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