small business gurus - the blog of Cat & Keith Matson

by Cat Matson

Well, it’s official!  With Melbourne Cup Day now behind us, it really is a downhill slide into the festive season of social engagements and parties – business related and otherwise.

Rather than decline these social invitations citing ‘busy-ness’ as your excuse, consider using these opportunities to expand, enrich and ‘weave’ your networks.

I don’t mean handing out as many business cards as you can, or trying to generate as many new customers or clients you can in the shortest space of time.  What I really mean is what I call ‘netweaving’ – truly connecting with people and connecting them with others.  Netweaving is more about helping others... whereas traditional networking has been about ‘what’s in it for me’ (WIIFM).... which, by the way, is why so many people don’t like traditional networking.

The festive season is a great time to reconnect with your networks (business and personal) and practice the art of netweaving.  Look for ways that you can put people in touch with others where they can create mutually beneficial relationships.  For example, if someone mentions they are experiencing a particular problem, or looking for a particular service provider – pass on those resources that you would personally use if you had the same need.  I recently was talking to a client who mentioned they were having challenges with their electrician.  I gave her the name of mine as someone she could call if hers couldn’t do the job.  I also often promote other peoples services or events out to members of my network purely because I think they would benefit... not because I get any benefit from doing so.

One of the side-effects of this style of netweaving is you will increase your visibility in your networks.  This means, when someone does need your product or service, you’re more likely to me remembered.  It’s not about netweaving to get this result.... but genuine netweaving produces this result.

So, party on.... and enjoy the social aspect of the next few weeks.

by Cat Matson

Marketing and sales are often confused by business owners, thinking they are one and the same function.  However marketing is like throwing out a fishing line to see what nibbles... sales is reeling those that nibble into the boat.

Unlike a good fisherman however, most business people fail to ‘haul in’ a good percentage of those that nibble... so rather than just casting a line, most small business marketing really needs to be like throwing out a large fishing net... giving you more opportunities to make a catch.

The first component to a strong marketing net is a crystal clear marketing message.  This consists of:

1. Who are you trying to catch (your ideal customers/clients)
2. The problem they experience (problem, predicament, issue)
3. The solution you provide (solution, benefit, result)
4. Why you are the person to provide to solution over all others (credibility)
5. A strong call-to-action (what should the buyer do next?)

The next step is using your marketing message to communicate with your target market.  It could be in local press ads, classified ads, direct mail or email, website, brochures, TV or radio advertising or a whole host of communication methods.  The key at this step is to communicate with your target marketing where they are likely to ‘listen’ to your message.  For example, accountants don’t respond well to direct mail, so that isn’t a good method for them.  However they do respond well to articles and presentations by experts and one-on-one conversations.  So if accountants are your target market, you need to be writing, speaking and networking.

Consider what methods work well for you... or for your competitors or similar businesses (e.g. if you’re a plumber, what’s working for the local electrician?).  Then consider how you can improve your message so it’s more effective and generating the nibbles you’re looking for.  It’s not about ‘clever’ or ‘creative’, it’s about ‘does it make the phone ring?’

Notice in none of the above steps did I talk about sales... that comes next... once you’ve got the right people nibbling on your line... and what I’ll address next time. 

Until then... happy fishing!!

Cat

Igniting your business performance

Alito - Business Mentors

by Cat Matson

I am so tired of hearing about how tough things are.  People are citing the current economic climate as the reason for not buying, the reason why business is struggling, the reason why they’re ‘cutting back’.

The fact is, for most people, things are no more ‘tough’ than they were two months ago (I know some people have unfortunately lost their jobs but that’s not the majority).  Sure, people’s asset-base has taken a hit (yes, your superannuation fund does not look as good as it did month ago), but your day-to-day discretionary income has not changed one iota.  Grocery prices having been going up for the last 18 months.... petrol prices have been going up for the last 12 months.... so we have already been dealing with those increased cash flow burdens. 

Since the supposed economic crisis hit, petrol prices have actually come down... and so have interest rates!!  So in reality, most people should have more free cash to spend... not less!!

The fact of the matter is mainstream media would have us believe that we are moments away from recession.  This does nothing other than fuel fear... which influences buyer behaviour... which then creates a self-fulfilling prophecy of slowed economic growth.  Readers older than 50 would recall similar ‘slow-downs’... and would recall coming out of them unharmed.  The problem is we’ve had such a long period of growth that most people in business haven’t seen ‘conditions’ like these before – it’s easy to make hay while the sun shines.....

So what does it mean for you, a small-medium business owner?

Normal operations!  Stop thinking ‘doom and gloom’ – be proactive amidst the negativity.

Get smart with your marketing and reconnect with your customers.... demonstrate you are as important (and valuable) to them now as you were last month.  Expand your communications, your programs, your products, your services – resist the temptation to shrink and ‘go small’.

Unless you are selling to retirees or people servicing that market, your customers have the same discretionary income (if not more) they did six months ago.  Don’t fall into the trap of thinking ‘times are tough’.  They’re not.  They’re just different. 

Cat

Igniting your business performance

Alito - Business Mentors