Seven Ways to Kill a Perfect Pitch

The pitch is a crucial time for small businesses. It's stressful, sometimes adrenaline fueled, sometimes smooth. Make sure YOURS is with these great tips from Entrepreneur.com

Why do great startups fail to get funding? Often, it’s not because of a business shortcoming or how the entrepreneur presents the company. A wrinkled shirt or a poorly received joke make subliminal impressions. Sometimes, a minor flaw can derail the most well-rehearsed pitch.

To avoid killing your pitch and your growing enterprise, make sure you’re not committing these seven fatal errors:

Not Making Eye Contact. Most entrepreneurs spend a lot of time rehearsing what they’re going to say but don’t actually look at investors when they say it. Make direct eye contact to project confidence, openness, and credibility. When do you stop looking? When the investor acknowledges your gaze.

Read more: http://www.entrepreneur.com/article/230185#ixzz2mzoO6Tck

How to Balance Your Personal and Professional Presence Online

The following article is from Entrepreneur.com.  So many small business owners struggle over this. We wanted to pass along some great insight!

As Twitter has grown in influence as both a social platform and a communication channel for companies, I have recalibrated the way I interact with people there--and, by extension, any social network where I represent my brand. It has been a subtle shift, but an important one.

This was on my mind when a question came up at a marketing event where I spoke recently: How do you balance the personal and professional on social networks?

I advocated for a blending of the two. At its heart, that's the real opportunity of social media, isn't it? People do business with people--not faceless, soulless edifices. Don't you want your prospects and customers online to have an opportunity to get to know you, just as your contacts in real life do?

However, since that event, I've given the subtleties of the matter more thought. It's a delicate issue that needs to be handled deftly. So, what is the best way to balance these two sides of your online identity?

Read more: http://www.entrepreneur.com/article/229376#ixzz2mzl5uXPh

12 Successful Entrepreneurs Share the Best Advice They Ever Got

From Entrepreneur.com-- some great advice to some of the current greats of business!

Being a successful entrepreneur frequently involves a series of missteps and mistakes before finally nailing the right idea or business. The difference, for many, between giving up and persisting through the toughest times can be getting advice from people who have done it before — and being smart enough to listen.
From investor Mark Cuban's dad telling him that there are no shortcuts to Lululemon founder Chip Wilson's realization that people actually enjoy helping others, we asked 12 successful entrepreneurs to share the best advice they ever got, discovering the lessons that stick with them to this day.

Follow the link here> http://www.entrepreneur.com/slideshow/230239#ixzz2mzluf7lQ

Small business advice to avoid the January slump

We all face the possibility of a December slump- so getting a jump on January is key. Thanks to CWA Studio for the wonderful tips from the U.K.:

It happens year after year.  Christmas, that is. It still comes on the same date every year and yet still manages to catch everyone off guard and distract small business owners. January is a difficult month for SME ’s.  Planning ahead for a potential decline in sales after Christmas is a smart way to secure a better start to January.  If you are an SME and are worried about the potential January slump, generating new enquiries and growing your client base is something you need to start planning now.
We’ve put together some helpful suggestions:

Existing Clients:
Now is an excellent time to talk to your existing clients/customers. For example, ask your clients what new products or services they would like your business to provide?  By communicating with your clients and addressing their needs you can forge a greater business relationship and become more valuable to them as a service provider.


Read the full article for all tips at: CWAStudio.com

Networking: Giving, Taking, and the Fine Balance of Both

Networking requires giving and taking to be mutually beneficial. It's common to see people who are more comfortable with either one aspect or the other, but good skills in both arenas are imperative for success.
"Giving" comes first or at least should. In building relationships, it's easier to break down barriers to trust, respect, and reciprocity by being the first one to extend help to a potential networking partner. "Giving" includes, but is not limited to:

1. The sharing of industry information that is helpful to the potential partner.
2. The sharing of resources and suppliers helpful to the partner.
3. The sharing of new technology with these partners.
4. The sharing of information about the potential partner's competitors.
5. After a level of comfort has been established based on your own business ethics and standards, the sharing of business leads.

At some point in time, you can reasonably expect some of the same type of help in return. You are entitled to get help, or the relationship isn't mutually-beneficial Many people find it uncomfortable to take the following steps when there is no information coming back to them after they have given more than their fair share.

What do you do when you aren't getting anything in return?

1. Make sure that you have made your needs clearly known. Is your 60-second introduction presentation precise enough? Have you asked for specific information that the potential partner would be likely to have access to and gotten no response?

2. Ask the potential partner WHY there has been nothing coming back from their side. This can be tough but doesn't have to be. I teach people to ask the following:
If there were something about my firm or me that would prevent you from feeling comfortable sharing information with me, would you tell me about it, or would you keep it to yourself?

This approach works MAGIC!

3. After exhausting the above options, it's time to walk away. Don't be discouraged. Start the process again and again and again. There are far more people looking to share than just to "take".For the very few people who are ONLY "takers", you can do nothing more than you have. The reality of it is- you are entitled to give and get. And any relationships that don't encompass both aspects, will never be mutually beneficial.

Networking Effectively Part 4: Connect, respect, and refer

To start with, let's look at some connection types:

Casual:
Casual networking can happen anywhere, any time, and for any reason. It is the sort of thing that is spontaneous, usually based on recommendations from friends, and is normally just a matter of being in the right place at the right time.

These types of referrals are based on personal feelings more than anything else. They are better than trying to run down new sales, but they are not normally the highest quality referrals. That will depend on the person you're dealing with, but overall, people think they're doing you a favor by simply sending you work. They forget to think about the payment end of things. Or just what a nuisance their brother-in-law can really be. These tend to be haphazard things that many people consider an extra, rather than a regular part of doing business. That's a mistake. If you can get to the point where you are selective about which jobs you accept this can be a lucrative source of extra business for you.

Directed/Personal:
Still on the seemingly casual side, this is a more deliberateform of networking. It involves being aware of the opportunities involved in making sure people know what you do and have the kind of thinking that will encourage them to send you business.The person who uses this type of networking is usually known for their contacts, but not in an overt way. They'll often be the ones you hear people talk about when they say "I don't know. Ask Chris. Chris usually knows who to go to..."

This is the person who has made the decision to take the first step and make the referrals to good businesses. They have learned to listen well and identify those businesses. And they treat others with respect and genuine concern for their well being.

Planned/ Personal:
This is the most profitable aspect of personal networking. It is also surprisingly easy to do. The idea here is to make sure that you have a conscious and active plan to make new contacts each week.Do things that get you out and around new groups of people. Make yourself accessible to them. And remember the basics. Keep in mind that your circle of acquaintances is not necessarily limited to the people you know now.

That last is an obvious statement, but it's one that people forget. If you make a real effort to be helpful or pleasant to people you don't know, they will likely return the favor, and will certainly be more receptive to getting to know you better. You know that already, but do you use that idea to widen your circle of contacts deliberately ?

What kinds of activities are the best for this ? Anything that will put you in a setting where you get a chance to talk with new people.

Some suggestions :

•Attending trade shows
•Taking adult education classes
•Frequenting new businesses
•Attending parties
•Attending charity functions
•Joining a gym/health club
•Joining community organizations
•Rotary/Kiwanis/Lions Clubs
•Going to different restaurants
•Chamber of Commerce meetings

While at these places, keep in mind that you have a purpose of your own in addition to participation in the groups activities. Meeting people who can help you to get more business. The way to do that is to help them get more business.

As you can see, there are an enormous number of ways to connect on a personal basis. The next post, we'll delve into the professional side of things!

Networking Effectively Part 3: Making the Contact Concept Work for You

In Part 2 we learned about the Contact Concept. So how do you make it work for you?

• Start to think actively about who you know that you can refer people to. And who could refer business to you.Set a specific goal for the process
• Develop an awareness for opportunities to develop contacts.
• Make a point of listening and asking the right questions.
• Let people know the exact type of customer that you want. Learn to ask the questions that will tell you the exact type of customers others want.
• Develop a 30 - 60 second commercial, telling people in a quick and clear way what you do and why you're the person they want to do business with.
• Network on purpose, and with a purpose!

Defining your perfect customer/prospect
This may seem like an obvious thing to you, but it might not be to the people you deal with. You have to be specific when you let people know your ideal customer.

Examples are a better way to explain this:

* You sell insurance. Don't say "Everyone's a good prospect." Say something like : "I'm looking for middle income people who have recently bought homes or had children. The types of changes that make them start thinking about the future."

* You are an interior designer. Your ideal prospect might be : "Someone who has bought a home in the suburbs that is looking to add to their property values, or someone who was recently promoted to a position that requires more entertaining than they are used to."

* You sell cars. Specifically Mercedes Benz. Your ideal prospect might be "Someone who is moving up the ladder, has an eye for quality and is long term thinker."

Get the idea ? Sit down right now and come up with a short, clear description of the person who is most likely to want, use, and afford your product or service.

Define your ideal customer.
This is a valuable exercise not only for networking, but for your marketing efforts as a whole. You might find that it gives you a clearer focus on where and how you advertise, what you can do to be more efficient, and who you *don't* want as customers.

Networking Effectively Part 2: The Contact Concept

Simply put, this can be said as : "Connect, respect, refer." As you meet people, make a real connection with them. Ask them about themselves. Learn to really *listen*. Find out who their best prospect is and keep your eyes open. Show them respect, and refer them to people who can use their services.

How does this get you what you want ?
People will almost always return a favor. And they tend to assume that anyone who sees the quality of their work and their worth as a person will share the same values. They recommend people who are like themselves.

This will also help you develop a deserved reputation as a helper. That reputation is a major plus when dealing with networking. People like to be associated with those who are seen as being helpful.

Many people in business have a healthy respect for those who have "connections". They are seen as movers and shakers. This is an old and established view that holds up across the business scene no matter what part of the world or what culture you are looking at.

The most important thing in having connections is *being* a connection. There is also simply no better way to develop a relationship of trust than to make the first move. If they don't return the favor, you have lost nothing but a short amount of time. The returns from this type of "Putting the other guy first" thinking are tremendous. The downside is quite small. Try it. You'll be pleasantly surprised.

Networking Effectively Part 1

We're approaching the time of year that is riddled with holiday parties, year end events, and any number of chances to mix and mingle with contacts, current and new. So we're taking this time to kick off some tips for effective networking. We hope you learn and grow from them!

What are the advantages of networking ? What's in it for you ?

Networking has a lot of advantages over traditional advertising and marketing. These are the most important advantages:

More business: As you develop networking skills and contacts, you'll find that the amount of work you get from referrals accounts for the largest part of your new business. And the most profitable.  When properly handled, networks of contacts have a real tendency to grow. This will mean a constantly growing stream of new customers.

Better business: The business you get from referrals will usually be from happy customers. This will mean that your best customers, those who pay on time and without headaches, will be the ones who send you the additional business. Or those business contacts who value their association with you and respect your integrity and quality of work. Either way, good quality referrals.

Cost savings: As you get more business through referrals, you'll find less and less need to advertise and market your business. This means less of the associated costs. And since you'll be getting better quality business, it means less bad debts.

Time savings: Less need for cold calling and selling of work. Most of the referrals you'll get are for people who are already prepared to pay for your service and simply want to find some one they can trust to do the job properly. You'll be able to spend your time working at paying projects, rather than chasing questionable prospects.

Picking up the pace: Business slow ? Just starting ? There is no better way to get things going faster than through a solid referral. Or better yet, through a network of them.

Broader range of opportunities: Networking gives you exposure to more people and, as you develop relationships with those people, often leads to early information on new business opportunities. It also opens the option of initiating new ideas where you introduce contacts to make for a whole new business.

Leadership Characteristics

“A good leader takes a little more than his share of the blame, a little less than his share of the credit.” - Arnold Glasow

Leaders have the authority of knowledge. Leaders have demonstrated ability/talent that colleagues and subordinates admire. To be a leader you cannot just be a talker ... you must bring something special to the situation.

Leaders are visionaries. Leaders see things, that others see as ordinary, in a way as to make them extraordinary. Leaders can make the complex seem simple. Leaders look beyond today.

Leaders produce positive change. Change is seen by leaders as an opportunity and a challenge. Leaders always question why things work, or are done, the way they are.

Leaders give their all. Leaders do not hold back. They do not allow themselves to be sidetracked and always exhibit a high degree of energy and ability.

Leaders are good listeners. They are able to really hear what people are saying and empower people to follow their vision.

“A good listener is not only popular everywhere, but after a while he knows something.” - Wilson Mizner

Leaders are good communicators. They are clear and concise, complete and consistent. They create enthusiasm and excitement.

Leaders are students. They never stop learning and growing. They are willing, and able, to learn from their mistakes. Leaders read ... read ... and read!

Leaders take risks. They create change which requires risk because they visualize how things can be done better.

Leaders are ethical. People will not follow someone who cannot be trusted, consistently.

Leaders are optimistic. Trust and hope are the basis on which leaders empower other people. They believe (and have proven) they are winners!

Interested vs. Interesting

OED Certified Advisor Sandy Riser of The Next Level Business Solutions brings us this simple and critical perspective on networking events.

When was the last time you went to a networking event where you felt someone was really interested in you? I like the theory about being interested in who you are talking to vs. what we think we should be at events which is being interesting.


If you switch those around, they will turn your networking into a powerful piece of your marketing. It is not all about you.
See more of Sandy's tips by visiting Next Levels's blog, or by follwoing them on Facebook and Twitter.

Guerrilla Marketing Basics

Deborah Bifulco of The Coach Academy brings us basic Guerilla tips for small business:

Most of my work is with start up businesses in the professional practices field, so Guerrilla Marketing is the most used tool in my arsenal.  And, frankly, Guerrilla Marketing is a lot of gun – it uses creativity, time and imagination in place of big bucks.  But before the creative part of the marketing occurs, some basic “grunt work” has to be done.  And, one of the areas entrepreneurs seem to struggle with the most is translating their services/products into customer-oriented benefits.

Most of us have a tendency, when asked what our company does, to talk in terms of features.  For example, if you own a landscaping company you might lead off with something like “We mow lawns.”  Seems simple enough, right?  But “mowing” isn’t what customers buy.  Customers buy solutions.  So, what problems might be solved by mowing?

o        The homeowner will have more time

o        The yard will look good and reflect well on the homeowner

o        The homeowner will have more time for (fishing, golfing, family time, etc.)

Ideally, one of the first steps of any good marketing plan will involve listing out every single thing your company does/sells and them coming up with two to three benefits for each.  If you are having a hard time translating your features into benefits, try asking your customers what they get out of their relationship with you – what problems have you solved for them?

Once you’ve got a good list of clearly stated benefits, start using these in every single element of your marketing … emails, advertising, newsletters, website, etc.   And, remember, people buy solutions.

From the Blogosphere: Social Media- Debunking Myths

We love the use of Social Media by small businesses. You can network, access vendors, touch prospects, and get answers to an amazing range of questions. There are also a slew of stats and over-hyped statements milling around to freak out the average small business owner.

Here's a post from Forbes.com that may help settle your nerves AND get you moving in the right social direction!

ps. Almost forgot... don't forget to follow us on Twitter and LinkedIn ; )

Are You Your Own Worst Enemy?

In a recent study done by Communispond, a New York based sales firm, more than 100 salesmen were asked why "the number one reason customers switched vendors." Over half admitted that "being out of touch" was the primary reason. Not that the customer found a better deal or a better product. The reality was this: they sold the customer the product and left him. Period.

Even in a very lean economy, clients will not necessarily jump ship just to chase a better deal. Are there long standing clients with whom you've lost touch? Do you reach out them to say hello or see how business is? Do you reach out to let them know you are at least aware you haven't spoken recently? This is an ideal time of year to contact clients (and vendors) with whom you have been out of touch. Let them know you value the length of your connection, and kick off a more connected 2012.

More sales and connection tips can be found in the resource documents in The OED Community.

Secrets of Top Closers

What distinguishes someone who has a high ratio to someone that has a low closing ratio?

Are they smarter? Are they a more 'natural' communicator than you?

Did they happen to get better leads or more qualified appointments than you?
Are they luckier than you?

The answer to these is NO. There is a distinct difference between the MINDSET of the top-performing closers and the low-performing closers.

When an appointment is unsuccessful, the lower -performing closers blame the following:

~How the prospect was qualified.

~Length of the appointment (too short / too long).

~Business was too small, too big, didn't make enough, or made too much.

~Distance needed to travel to the prospect was excessive.

This article and excellent sales tips like it may be found in the OED Community. The access is complimentary. The knowledge base is invaluable. 

When an appointment is successful, the lower-performing closer credits the following:

~Luck (Or some other external force).

When an appointment is unsuccessful, the top performing closers blame the following:

~Themselves. They assume 100% responsibility for the outcome of that appointment.

~They then ask themselves...

1.      What did I do well?

2.      What could I do to improve myself / my performance for the next appointment?

3.      What was the defining moment of that appointment (i.e. What was the event that changed
        the appointment for the better/worse?)

When an appointment is successful, the top performing closers ask the following:

1.      What did I do well?

2.      What could I do to improve myself / my performance for the next appointment?

3.      What was the defining moment of that appointment    (i.e. What was the event that changed the  

      appointment for better/worse?)

The difference between the top performers and the lower performers is their belief system. The top performers believe that if the prospect did not buy; it was because they did not build enough value into the appointment so the prospect was compelled to engage them.

Which mindset do you employ? I invite you to ask yourself these 3 questions before and after each appointment and develop the MINDSET and RESULTS of a top performer!

Remember: People do business with people.

John Walters of 1-2-1 Business Consulting brings us a much-needed reminder in this day of "B2B" marketing and technology at every turn. The obvious (but often forgotten) notion of  the need for "human connection" in relating to prospects and clients is effectively captured in John's post. 

Remember: People do business with people.
This is obvious and yet it is something that is often overlooked, particularly by companies selling business to business (B2B).

We get so wrapped up with the products/ services that we supply that we lose sight of the fact that people do business with other people.

For sure we look to the quality of the product, availability and pricing, but our decisions to do business with another party is invariably influenced by our emotions.

This shouldn’t come as a surprise, after all you would rather do business with someone pleasant, who makes the buying experience fun, as opposed to doing business with the rather difficult person that continually rubs you up the wrong way. Wouldn’t you?

Well the prospective buyer of your product/service is no different.  Knowing that their buying decisions are somewhat influenced by their emotions is very powerful information.  You create the opportunity to ensure that your value proposition appeals to them on an individual/personal level, and thereby capture/retain their business.

Remember that how you interact with your customers and potential customers will ultimately determine your revenue (sales) development. And so, put yourself in your customers shoes and consider the following:

1. Are you easy to do business with? Here I’m thinking your ordering process and not whether you rollover on pricing and terms.
2. Do you think the overall buying experience is a satisfactory one?
3. Are you meeting their needs on a personal level?

Are you able to answer the above?  If not, perhaps you need to solicit feedback from your customers.
Good luck. Should you require help please Contact “121″.

For more insight into building rapport, fostering client relationships, and effective interpersonal skills for small business, check out the OED Community or follow us on Twitter!

Need some marketing help?

Today, we're passing along some information about Deluxe's "Project REV." In a nutshell, business products firm Deluxe takes 9 small businesses and provides marketing mentoring and a slew of Deluxe products. That's a fairly simplistic view, but the impact can be high. Working with SCORE, the selected contestant's can test run various marketing channels to identify the greatest bang for their business.

It's worth checking out if you need a starting point, a boost, or even a lifeline for your marketing! Visit ProjectREV for details.

Too busy to develop your pipeline!

John Walters of 1-2-1 Business Consulting talks about the hidden challenge of being booked solid with current clients.


I’ve spoken to several Business Owners lately who have told me that business has picked up in 2011, and that’s great. However, a number of them are so engrossed in serving their existing customers that they have switched off to the fact that they still need to manage the pipeline of new business.


A number of them have told me that because they are so busy they no longer have time to carry out marketing. They say, “don’t worry”, we’ll get back to marketing when things are a little less crazy.

My message to you is that this spells real danger!

Things may be good now, but the reality is that you need to be constantly working on your pipeline. By constantly adding to your pipeline you will hopefully get to the stage where you are short of capacity, and even when you are capacity constrained, you should still be working on your pipeline.

Why?

You should remember that not all of your prospects will come through; some of your customers will take less than they predicted and some will take more. Because of this uncertainty you need to push on with developing a strong pipeline.

Also experience tells me that people become very creative when they are under pressure to increase capacity to take on additional business, and all businesses like additional volumes.

Have you the tools in place to monitor your pipeline?

We’re talking about estimating and measuring your future demand. Businesses do this by taking their prospective clients, estimating their business volumes, and then applying a probability factor, representing how much of the business they think they will capture.

Depending on the level of sophistication of the business, and the complexity of the sales quotation process, they often apply percentages to reflect the different stages of the selling process, and where they are in the process.

So please make sure that you have the necessary tools in place and that you are actively developing your pipeline.

Don’t hesitate to contact us should you need support with designing and implementing appropriate tools to monitor your pipeline. We have the experience and we are there for you.

Good Luck.

Find more scheduling and efficiency strategies in OED's Online Community, and via special events located at OEDGlobal.org.

Social Media for Small Businesses: Engage, Convince, Become!

OED Certified Advisor Eyal Bino shares Social Media tips with small businesses enagegd in B2B marketing.

According to BizReport.com, 86% of B2B firms are using social media, compared to 82% of B2C firms. However, only 32% of B2B firms engage consumers daily via social media channels, while 52% of B2C firms do.

B2B firms are eager to jump on the social media train before it takes off (has it already?), but they're forgetting what it means to have a social media strategy. While many are successfully engaging consumers, it's clear that most of them could take some clues from B2C firms' strategies.

B2B firms probably have a more daunting task than B2C firms when it comes to social media: B2C firms have to engage and convince; B2B firms have to engage, convince, and establish themselves as thought leaders. B2B firms aren't entering relationships with consumers; they're exploring partnerships with other businesses and have much more than reputation at stake.

The rewards of dedicating time to a focused B2B social media strategy are plenty. Here are some tips to leverage your B2B firm's online presence.

Twitter & Facebook
Share content that is valuable to your followers & fans. That is, your current and potential customers. Here is your chance to share interesting articles, links, websites, and news that are relevant to them. Ask them questions and invite them to engage with you, and each other! You can engage them by crowdsourcing for suggestions, or polling them on their opinions.

Linkedin
Many firms are using Linkedin as a vital piece of their social media strategy. Discussion boards are the meat of the tactics here, providing ample space for exchanging ideas and giving tips & suggestions. What's best is that you're engaging a network of professionals, who are likely to refer you once you've established yourself as a thought leader.

Blog & Website
The final piece of the puzzle. All of your social media efforts have been driving traffic to your website, and it is here that they shall be convinced! Clear, efficient, and to-the-point copy is a requisite; avoid wordy descriptions. A slick, simple, and intuitive website will make for easy navigation.

Ultimately, your blog should serve as a platform for current and potential customers to exchange information, and more importantly, to receive valuable information from you.

Tip: if your B2B firm is a one-man or one-woman show, make sure your profile is personal, so your customers know they are communicating with a human being. It makes the whole "online world" less devoid of personality, and ultimately more engaging.

Make sure to join our mailing list at http://www.born-global.net/ for more tips and suggestions on becoming a successful entrepreneur!

For more small business promotion strategies, visit OED's online community.