Free daily tips, information, advice and ideas
to help you better manage your small business.
Market trends are all around us. Markets are subject to fads and fashions, just like clothing styles. Things are continually changing. Sometimes, a trend develops and the marketplace runs with it. Other times, a trend dies aborning.
A good example can be found in the way men dress up for office jobs. While the three-piece suit has been around for a very long time, the vest comes and goes. The jacket lapels get very wide in some years, go narrow in other times. Shirts used to be all white. Today, colorful stripes and checks are everywhere.
To spot market trends, watch television. Trends in clothing styles are readily apparent. Harder to spot are trends in healthy living, exercise, foods, education--the list is endless. All over television are ads for gadgets--the trend here is not for the gadget but rather for the convenience of distance buying.
Example: Lisa put the convenience of distance buying to work in her bakery. She began offering scones, biscotti and brownies on her website and on Facebook. Her target market was people tasked with supplying refreshments at meetings and gatherings in corporate settings. Her sales pitch was simple: "You already have the coffee. Now you have the caterer--anytime, anywhere." The orders came in and Lisa ships out the goodies daily via UPS.
Education usually means a classroom. But it ain't necessarily so. People are thirsty for information--not the kind that puts a degree on their resume, but the kind of everyday, practical information that helps people get through the day.
Example: Joan is a trained and certified nutritionist. She has been trying to establish her business, but attracting paying clients has proved difficult. She gives talks at health foods stores, supermarkets and senior centers. This has resulted in a few more clients for her nutrition sessions--but not enough. When she noticed more and more questions about weight reduction, Joan decided to try that direction. She devised weight reduction programs for adults and children which she promoted on her website and Facebook page. When she scheduled these new seminars, they quickly filled up. Some of the attendees at the seminars became regular clients and referred others to Joan's programs. She has now partnered with a chiropractor to hold demonstrations and events. By re-packaging her nutrition programs as weight reduction and healthy eating programs, Joan has tapped into a market trend that will support her business.
Your job in managing your small business is to find the market trends that will help you sail into the future you deserve. Sometimes, it's a matter of re-structuring your own thinking to better align your business with trends in the marketplace. Other times, it's a matter of taking off in another direction.
Market trends are never static. What works today will more than likely not work tomorrow. It takes constant attention to stay on top of what works in the marketplace. Now, where did I put that white shirt?
Tuesday, May 12, 2015
Monday, May 11, 2015
Expand your market
Free daily tips, information, advice and ideas
to help you better manage your small business.
Building on what you already do is an easy way to expand. Sometimes, it only takes a change in attitude to attract clients in a completely new way. Other times, a new market develops in an area you already serve.
Example: Joe runs a small independent pest control company. He has experienced difficulty "breaking out" ahead of his competition. When the town was suddenly invaded by stink bugs, Joe saw a way to enliven his marketing message. He took dozens of pictures of the bugs on sidewalks, porches, steps and patios--posting them every other day on Facebook. The calls came in. He offered to give short talks at meetings. More calls came in. Many of these new callers became regular clients coping with fleas, ticks, mice, ants, spiders and more. The stink bugs were a marketing gift.
Example: Dawn is a certified therapist specializing in helping clients through stress, grief and related issues. She noticed that many of her clients had gone through drug and alcohol drug addiction rehab programs, but large numbers of them were still coping with their old habits. Dawn extended her practice to this area, helping rehab "graduates" cope with their on-going problems. They represent a well-defined market--people needing specific help. Dawn is developing several programs for post-rehab people. It builds on what she was already doing, but it structures programs in an entirely different and new way.
Example: Judy runs a local recycling operation. She takes in all types of metals. The market for metals goes through ups and downs--prices rise and decline according to forces well beyond Judy's control. When a storm came through her area, Judy saw an opportunity. She put the word out that she would take the wood--no payment, just a convenient place for people to get rid of downed trees. Soon Judy's back lot was filled with a jumble of tree trunks, limbs and stumps. Again, Judy put the word out--this time to artisans, woodworkers, and businesses offering mulch and firewood. She had expanded into another market with little effort. Two or three storms per season keeps the back lot full.
Everything changes. Technology, weather, markets, your client base and their needs--all change. Be alert to changes that can affect your business
Some changes affect you negatively. Others can be opportunities.
Expanding your market and growing your business can be as easy as recognizing everything the world throws at you as opportunities. In every dark cloud there is that silver lining. Find the silver and run with it.
to help you better manage your small business.
Building on what you already do is an easy way to expand. Sometimes, it only takes a change in attitude to attract clients in a completely new way. Other times, a new market develops in an area you already serve.
Example: Joe runs a small independent pest control company. He has experienced difficulty "breaking out" ahead of his competition. When the town was suddenly invaded by stink bugs, Joe saw a way to enliven his marketing message. He took dozens of pictures of the bugs on sidewalks, porches, steps and patios--posting them every other day on Facebook. The calls came in. He offered to give short talks at meetings. More calls came in. Many of these new callers became regular clients coping with fleas, ticks, mice, ants, spiders and more. The stink bugs were a marketing gift.
Example: Dawn is a certified therapist specializing in helping clients through stress, grief and related issues. She noticed that many of her clients had gone through drug and alcohol drug addiction rehab programs, but large numbers of them were still coping with their old habits. Dawn extended her practice to this area, helping rehab "graduates" cope with their on-going problems. They represent a well-defined market--people needing specific help. Dawn is developing several programs for post-rehab people. It builds on what she was already doing, but it structures programs in an entirely different and new way.
Example: Judy runs a local recycling operation. She takes in all types of metals. The market for metals goes through ups and downs--prices rise and decline according to forces well beyond Judy's control. When a storm came through her area, Judy saw an opportunity. She put the word out that she would take the wood--no payment, just a convenient place for people to get rid of downed trees. Soon Judy's back lot was filled with a jumble of tree trunks, limbs and stumps. Again, Judy put the word out--this time to artisans, woodworkers, and businesses offering mulch and firewood. She had expanded into another market with little effort. Two or three storms per season keeps the back lot full.
Everything changes. Technology, weather, markets, your client base and their needs--all change. Be alert to changes that can affect your business
Some changes affect you negatively. Others can be opportunities.
Expanding your market and growing your business can be as easy as recognizing everything the world throws at you as opportunities. In every dark cloud there is that silver lining. Find the silver and run with it.
Friday, May 8, 2015
Business friends
Free daily tips, information, advice, and ideas
to help you better manage your small business.
In previous write-ups, I've talked about the difference between personal friends and business friends. It pays to know which is which and treat them accordingly.
Personal friends can be casual or close. Everyone has both casual and close personal friends.
A business friend is a completely different animal. Business friends are the customers and clients you attract to your business. These people come to you for the product or service you provide, and they return again and again. You might never invite them to dinner at your home, but you make them feel welcome and relaxed in your dealings with them. You might never give them a birthday party, but they know that they can count on you to be there when they need you.
You and your business friends are in a mutually dependent relationship. It is symbiotic. Each contributes to the well-being of the other. Both parties get what they need.
Example: Elaine promotes her fashionable shop for women using social media. Once or twice each week, Elaine posts pictures of new designs and items in the shop. Twice each year, she mounts a live fashion show with models wearing the designs carried in the shop. Models mingle with the friends of this business showing off shoes, handbags, and accessories along with gowns and casual wear. Before and after the show, Elaine posts pictures on social media. In addition, she sends out invitations to private showings, and she sends a Thank You card to people following purchases. Elaine is careful through all this activity to position herself as the "go-to" adviser for clothing and accessories. Her business friends know that they can trust Elaine's advice and judgement when they have questions. Elaine's is not just a place to buy stuff. It is a resource for the business friends who represent the customer base.
To develop and grow your business friend base, concentrate on their interests, their concerns, their needs. Listen to your customers and clients, and they will show you the way forward. And then they will happily refer others to you.
Building your base of business friends takes attention, listening, transparency, honesty and going the extra mile. Social media is a convenient vehicle to make all this happen.
to help you better manage your small business.
In previous write-ups, I've talked about the difference between personal friends and business friends. It pays to know which is which and treat them accordingly.
Personal friends can be casual or close. Everyone has both casual and close personal friends.
A business friend is a completely different animal. Business friends are the customers and clients you attract to your business. These people come to you for the product or service you provide, and they return again and again. You might never invite them to dinner at your home, but you make them feel welcome and relaxed in your dealings with them. You might never give them a birthday party, but they know that they can count on you to be there when they need you.
You and your business friends are in a mutually dependent relationship. It is symbiotic. Each contributes to the well-being of the other. Both parties get what they need.
Example: Elaine promotes her fashionable shop for women using social media. Once or twice each week, Elaine posts pictures of new designs and items in the shop. Twice each year, she mounts a live fashion show with models wearing the designs carried in the shop. Models mingle with the friends of this business showing off shoes, handbags, and accessories along with gowns and casual wear. Before and after the show, Elaine posts pictures on social media. In addition, she sends out invitations to private showings, and she sends a Thank You card to people following purchases. Elaine is careful through all this activity to position herself as the "go-to" adviser for clothing and accessories. Her business friends know that they can trust Elaine's advice and judgement when they have questions. Elaine's is not just a place to buy stuff. It is a resource for the business friends who represent the customer base.
To develop and grow your business friend base, concentrate on their interests, their concerns, their needs. Listen to your customers and clients, and they will show you the way forward. And then they will happily refer others to you.
Building your base of business friends takes attention, listening, transparency, honesty and going the extra mile. Social media is a convenient vehicle to make all this happen.
Thursday, May 7, 2015
Serving customers
Free daily tips, information, advice, and ideas
to help you better manage your small business.
Recently I went online to make a purchase. I waded through all the pop-up ads and finally homed in on what I wanted to buy. I clicked on "Add to Shopping Cart" and nothing happened. Several attempts gave the same result.
At the company's Help Desk, I left a message. Instructions there assured me that all messages would be answered within 48 hours. It's been over two weeks, and no word has come back from the company.
I wonder if there's a live person somewhere wondering why the company is not receiving orders. Or has everything become so automated that only the machines notice a downturn in orders? Where have all the people gone?
Example: Gina operates a small company with four employees. The company sells brownies to customers all over the country. People place orders on Gina's website and she ships via UPS. To make certain that everything is working properly, Gina has an arrangement with a friend to place an order every other week. Tracking that order through the entire system assures Gina that the website is working, that there is no problem with ordering or with order fulfillment or with delivery.
Checking up on the internal workings of your operation is important. If you have a storefront, you can arrange to have a "mystery shopper" check out your business. If you're on the net, you should do no less.
Example: Paul operates a small auto repair shop. There is a single lift and two employees. Paul is frequently tackling repairs himself when the phone rings. In the past, he let the caller go to voice mail. Then he realized he was losing business--callers assumed that the shop was closed, hung up, and called another shop. Paul hired a part timer who handled the phone in the mornings as well as a few additional duties. The phone is now answered by the second ring.
Handling customers involves more than making a sale when they show up. Or when they click on your website. It means being there for them--at their convenience, not yours.
Today's technology can help you better operate your small business. But it's the customers and clients who ultimately spell success or failure. Make certain you are serving them.
to help you better manage your small business.
Recently I went online to make a purchase. I waded through all the pop-up ads and finally homed in on what I wanted to buy. I clicked on "Add to Shopping Cart" and nothing happened. Several attempts gave the same result.
At the company's Help Desk, I left a message. Instructions there assured me that all messages would be answered within 48 hours. It's been over two weeks, and no word has come back from the company.
I wonder if there's a live person somewhere wondering why the company is not receiving orders. Or has everything become so automated that only the machines notice a downturn in orders? Where have all the people gone?
Example: Gina operates a small company with four employees. The company sells brownies to customers all over the country. People place orders on Gina's website and she ships via UPS. To make certain that everything is working properly, Gina has an arrangement with a friend to place an order every other week. Tracking that order through the entire system assures Gina that the website is working, that there is no problem with ordering or with order fulfillment or with delivery.
Checking up on the internal workings of your operation is important. If you have a storefront, you can arrange to have a "mystery shopper" check out your business. If you're on the net, you should do no less.
Example: Paul operates a small auto repair shop. There is a single lift and two employees. Paul is frequently tackling repairs himself when the phone rings. In the past, he let the caller go to voice mail. Then he realized he was losing business--callers assumed that the shop was closed, hung up, and called another shop. Paul hired a part timer who handled the phone in the mornings as well as a few additional duties. The phone is now answered by the second ring.
Handling customers involves more than making a sale when they show up. Or when they click on your website. It means being there for them--at their convenience, not yours.
Today's technology can help you better operate your small business. But it's the customers and clients who ultimately spell success or failure. Make certain you are serving them.
Wednesday, May 6, 2015
Partner ahead
Free daily tips, information, advice and ideas
to help you better manage your small business.
Small businesses can partner with other small businesses for mutual benefit. Two or more businesses coming together can create more attention and excitement than either one acting alone.
All kinds of excuses can be used to put together an informal partnering. Hold workshops and seminars, informational meetings, networking events, or sponsor events that raise funds for a good cause. Partnering ahead is NOT about holding a sale or setting up a town-wide event.
Getting together with one or two other businesses to hold an event helps promote and grow each of them.
Example: A health foods store partners with a nutritionist. Monthly sessions are announced, the event is posted on Facebook and other social media, a news release is sent to local papers, and store customers are reminded of the upcoming events. The sessions are popular and draw new customers to the store and new clients to the nutritionist.
Example: A bicycle shop partners with a fitness operation to hold Saturday morning riding sessions. They meet in the parking lot of a local restaurant. The charge is $5 per rider with all the money going to a local charity. This event attracts new people to all three businesses--the bicycle shop, the fitness operation and the restaurant.
Example: A potter and a florist put together a workshop. Attendees can learn hands-on how to throw a pot on the potter's wheel and learn how to make flower arrangements and take care of house plants. The workshop, held in the pottery studio, attracts more people that either business acting alone. And the pictures on Facebook attract even more attention.
Partnering to hold events helps to expand the participating businesses. Partnering puts a fresh face on what you do, and it offers opportunities to post pictures--before and after the event--on social media. This attracts even more attention.
Partnering with other businesses is a way of getting ahead, planning for growth, attracting a wider base of customers/clients.
to help you better manage your small business.
Small businesses can partner with other small businesses for mutual benefit. Two or more businesses coming together can create more attention and excitement than either one acting alone.
All kinds of excuses can be used to put together an informal partnering. Hold workshops and seminars, informational meetings, networking events, or sponsor events that raise funds for a good cause. Partnering ahead is NOT about holding a sale or setting up a town-wide event.
Getting together with one or two other businesses to hold an event helps promote and grow each of them.
Example: A health foods store partners with a nutritionist. Monthly sessions are announced, the event is posted on Facebook and other social media, a news release is sent to local papers, and store customers are reminded of the upcoming events. The sessions are popular and draw new customers to the store and new clients to the nutritionist.
Example: A bicycle shop partners with a fitness operation to hold Saturday morning riding sessions. They meet in the parking lot of a local restaurant. The charge is $5 per rider with all the money going to a local charity. This event attracts new people to all three businesses--the bicycle shop, the fitness operation and the restaurant.
Example: A potter and a florist put together a workshop. Attendees can learn hands-on how to throw a pot on the potter's wheel and learn how to make flower arrangements and take care of house plants. The workshop, held in the pottery studio, attracts more people that either business acting alone. And the pictures on Facebook attract even more attention.
Partnering to hold events helps to expand the participating businesses. Partnering puts a fresh face on what you do, and it offers opportunities to post pictures--before and after the event--on social media. This attracts even more attention.
Partnering with other businesses is a way of getting ahead, planning for growth, attracting a wider base of customers/clients.
Tuesday, May 5, 2015
Facebook how-to
Free daily tips, information, advice, and ideas
to help you better manage your small business.
Facebook has proved itself to be a fantastic promotional tool for small business. Posting a picture on Facebook is quick, easy, and free.
Example: Kathy is a Reiki expert. Her client base is growing with referrals. She decides to expand by offering Reiki for pets. She snaps pictures of dogs and puppies and posts them on her Facebook page. People exchange photos with their friends and referrals come in. When Kathy wants to speed up appointments, she posts pictures more frequently.
Example: Sara runs a gift shop. It is a walk-in place and it is much more--she has a website and a presence on Etsy. Sometimes, she puts items up on eBay as well. Sara promotes with pictures--when consignments come in from artists (jewelry, paintings, photographs, ceramics and pottery), Sara takes pictures. These serve as a record and also get posted on Facebook and elsewhere as she considers appropriate. People are attracted to the shop and they order online. Pictures on Facebook drive the success of Sara's business.
Example: Jeff uses Facebook to promote his garden center. His close-up pictures of blooming plants attract attention. In spring, he shows daffodils and tulips. In autumn, he shows asters and chrysanthemums along with pumpkins and corn stalks. The variations are endless. Facebook pictures drive people to his website. Then people drive to his garden center.
Example: Frank is an attorney. He regularly offers to speak at gatherings, club meetings, senior centers and other group sessions. He asks for and gets agreement to take pictures. He posts them on Facebook and they get passed around among friends. The result is that Frank gets calls from new clients, asking for an appointment to discuss some legal matter.
Facebook can work in any business. Snap pictures and post them. It is not necessary that the pictures be taken professionally. Just home in on something interesting, colorful or dramatic--a picture of butterfly can draw as much attention as one of the Grand Canyon.
The key to using Facebook to promote your business is the picture-taking. But you're snapping pictures all the time, aren't you?
to help you better manage your small business.
Facebook has proved itself to be a fantastic promotional tool for small business. Posting a picture on Facebook is quick, easy, and free.
Example: Kathy is a Reiki expert. Her client base is growing with referrals. She decides to expand by offering Reiki for pets. She snaps pictures of dogs and puppies and posts them on her Facebook page. People exchange photos with their friends and referrals come in. When Kathy wants to speed up appointments, she posts pictures more frequently.
Example: Sara runs a gift shop. It is a walk-in place and it is much more--she has a website and a presence on Etsy. Sometimes, she puts items up on eBay as well. Sara promotes with pictures--when consignments come in from artists (jewelry, paintings, photographs, ceramics and pottery), Sara takes pictures. These serve as a record and also get posted on Facebook and elsewhere as she considers appropriate. People are attracted to the shop and they order online. Pictures on Facebook drive the success of Sara's business.
Example: Jeff uses Facebook to promote his garden center. His close-up pictures of blooming plants attract attention. In spring, he shows daffodils and tulips. In autumn, he shows asters and chrysanthemums along with pumpkins and corn stalks. The variations are endless. Facebook pictures drive people to his website. Then people drive to his garden center.
Example: Frank is an attorney. He regularly offers to speak at gatherings, club meetings, senior centers and other group sessions. He asks for and gets agreement to take pictures. He posts them on Facebook and they get passed around among friends. The result is that Frank gets calls from new clients, asking for an appointment to discuss some legal matter.
Facebook can work in any business. Snap pictures and post them. It is not necessary that the pictures be taken professionally. Just home in on something interesting, colorful or dramatic--a picture of butterfly can draw as much attention as one of the Grand Canyon.
The key to using Facebook to promote your business is the picture-taking. But you're snapping pictures all the time, aren't you?
Monday, May 4, 2015
Promoting tips
Free daily tips, information, advice, and ideas
to help you better manage your small business.
No matter your business, pets can help you promote. You don't have to own a pet shop. Pictures of cuddly kittens and playful puppies can attract attention and get people talking about you and your operation on social media.
Example: Ted is a chiropractor. He regularly posts on Facebook, LinkedIn, and Instagram--and all of these show pictures of his big dog. The dog is very active and the pictures show the dog running, jumping, chasing a ball, carrying a stick, or curled up by Ted's fireplace. Ted is getting across his message showing an active, pain-free life style. He doesn't talk about bones and muscles--that information is on his website for people who want more chiropractic information. The dog is the message. It is upfront, attention-getting, and draws in the viewer.
Example: Jan runs a consignment shop. Her big tabby cat really owns the place. He curls up in his basket on the counter, or in the sunny front window, eyeing all comers and catching cat naps. Jan snaps pictures of him--sleeping or playful. He is shown inspecting all the new items arriving at the shop. Jan posts the pictures on Facebook and other social media, generating continuing interest and referrals. Jan's regulars have developed an attachment to the cat and they refer others to the Facebook pages--bringing more people to the shop.
Example: Tom runs a bar. To punch up interest, he installed two pool tables and a dart board. He brought in craft beers. But the thing that really got the place hopping was something else. Tom cleared off one full wall and had a sign painter emblazon the words "Man's Best Friend" across the top. Underneath, he hung a reproduction of a famous painting of dogs playing cards. Then he invited everyone to post pictures of their dogs all over the rest of the wall. Soon, dozens of pictures of dogs and puppies appeared. Tom takes pictures of the wall and posts on social media. The bar is now affectionately known as Tom's Dog House.
Pets can be used in many ways to promote a business. Put your own creativity to work. Today's social media offers many opportunities that were not available in bygone days.
In the past, promoting meant reaching out with ads. Today's social media is more direct. The key is picture-taking. Everyone today can take pictures and post them easily, inexpensively, and continuously.
Get yourself in the picture-taking groove and don't look back.
to help you better manage your small business.
No matter your business, pets can help you promote. You don't have to own a pet shop. Pictures of cuddly kittens and playful puppies can attract attention and get people talking about you and your operation on social media.
Example: Ted is a chiropractor. He regularly posts on Facebook, LinkedIn, and Instagram--and all of these show pictures of his big dog. The dog is very active and the pictures show the dog running, jumping, chasing a ball, carrying a stick, or curled up by Ted's fireplace. Ted is getting across his message showing an active, pain-free life style. He doesn't talk about bones and muscles--that information is on his website for people who want more chiropractic information. The dog is the message. It is upfront, attention-getting, and draws in the viewer.
Example: Jan runs a consignment shop. Her big tabby cat really owns the place. He curls up in his basket on the counter, or in the sunny front window, eyeing all comers and catching cat naps. Jan snaps pictures of him--sleeping or playful. He is shown inspecting all the new items arriving at the shop. Jan posts the pictures on Facebook and other social media, generating continuing interest and referrals. Jan's regulars have developed an attachment to the cat and they refer others to the Facebook pages--bringing more people to the shop.
Example: Tom runs a bar. To punch up interest, he installed two pool tables and a dart board. He brought in craft beers. But the thing that really got the place hopping was something else. Tom cleared off one full wall and had a sign painter emblazon the words "Man's Best Friend" across the top. Underneath, he hung a reproduction of a famous painting of dogs playing cards. Then he invited everyone to post pictures of their dogs all over the rest of the wall. Soon, dozens of pictures of dogs and puppies appeared. Tom takes pictures of the wall and posts on social media. The bar is now affectionately known as Tom's Dog House.
Pets can be used in many ways to promote a business. Put your own creativity to work. Today's social media offers many opportunities that were not available in bygone days.
In the past, promoting meant reaching out with ads. Today's social media is more direct. The key is picture-taking. Everyone today can take pictures and post them easily, inexpensively, and continuously.
Get yourself in the picture-taking groove and don't look back.
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