Cross Promotion

One way to promote and market your business when funds are tight is by cross promotion. This working with another business that wants the same target customer but is not a competitor. You can refer customers to each other and even offer a small discount while doing it. This means telling the customer about the other business not just a brochure on your counter. There can be 2, 3 or more businesses in your network but make sure each one is actually doing it.

Before you actually agree to a cross promotion partner check out their quality and service to be sure they are offering the level you expect the customer to receive. Because if something goes wrong at their business the customer will also blame you for referring them. Some examples of cross promotion partners are; Bridal shop, Flower store & Photographer or a Hotel/Motel, restaurant and tourist attraction. Another is an auto dealer, insurance agent and car wash. This is an ongoing marketing plan that costs very little and benefits everyone in the network.

Writing Your First Book

The next "Writing Your First Book" seminars are scheduled for Feb 10 6:15 PM & Feb 12 9 AM, 2011 in Colorado Springs. Learn how to structure your book, average number of words/pages and how to get published without paying for it. Over 350 people have attended in 2010 & they are working on their books now. This seminar is $25 and is for everyone and can also be given as a gift for the holidays. Email idealetter@aol.com or call... 877-700-1322 for more info.

Getting Behind on Bills

This happens to all of us at one time or another and it's probably unavoidable. For your business though, it can be a little more serious and you need to watch it more closely. If you ignore the fact that you're getting behind on supplier bills, it will only get worse and maybe out of control. Keep a physical and/or computer file of all invoices received and date them. Invoices can come in the mail, fax or email. Once they are received and dated and approved you need a system to keep track of the oldest or most important ones and when they are due.

Most business computer accounting programs will do this for you and bills should be entered as soon as possible. If you're using a manual system have different files for suppliers and expenses. An if you have a major supplier make a seperate file for them. As cash flow comes in you can decide which ones are the most important and pay those first. If you can't pay a bill in full a partial payment will buy you a little extra time so send it.
More on paying bills slowly in chapter 5 of the book "When the Shit Hits the Fan" available at bookstores and www.amazon.com

Don't Make People Wait

A small business owner or manager lives for those times when you have more customers than you can handle at one time. People are actually waiting to be your customer and that is great. But make their wait too long or even seem too long and you may lose them and may not get them back. When you have spent all your marketing dollars to get them in your store or business, on your website or on the phone, it's a terrible waste to let them get away.

Remember that even one lost customer can also be lost repeat business several times over. So you need an advance plan to keep them from waiting too long. A plan that you and your employees put into action when a customer is waiting more than is comfortable for most people. Review this plan with everyone before any expected busy periods.
More on this subject in chapter 53 of my book "The Jelly Bean Principle" available at amazon.com or signed copies call (USA) 877-700-1322

Exhibit at a Trade Show ?

When deciding if you should spend the serious money to be in a trade show check it out first. If possible attend the show or a similiar one and see if the type of people walking the aisles are what you are looking for. If you don't want to wait for the next show ask the show management for a video of the previous show or find it on youtube. Here are some reasons why you may want to exhibit at a trade show.
.Increase sales and profits
.Meet and entertain customers
.Announce new products and services
.Get sales leads and prospects
.Find new distributors
.Have show special sales
.Build a new mailing list
.Get media publicity
.Check out your competitors
.Hire sales reps who are there
.Network in your industry
.Find new suppliers
.Conduct seminars & meetings
More on trade shows in chapter 13 of my new book "90 Days to Success as a Business Owner" available for pre-order at amazon.com

Publicity But Not Profits

Three things come to mind that generate publicity instead of profits. They are full color catalogs advertising products for sale and book signings. The Sears catalog of years ago (some called it the Dream Book) has become obsolete and too expensive to print and distribute. People can see the same things on the company website and even get their coupons there. Businesses using catalogs should cut back to full color flyers or 4 page brochures. The next waste of money, paper and distribution is the phone book. Many people I know (me included) just throw them out or maybe keep one of the 4 or so I get. Everything is on the internet now and few use the heavy phone book anymore. They should be either eliminated or sold for $1.00 each and picked up at locations around your city. Businesses can spend their ad dollars better elsewhere.

I am an international author who believes that book signings themselves don't generate profits and probably lose money. What they do for celebrity authors is create publicity by getting coverage in the media. When a celebrity comes to town and has 500 people in line to buy books that barely covers the cost of promoting it, travel expense, security and shipping cost of the books. The publisher hopes to break even on the trip. What it does is create that excitement for people to buy the book online or in other stores around the country and world. For us non-celebrities there is little hope because the store won't spend the money (other than maybe a sign in the window) to promote your book signing. But if you enjoy it and love to meet your readers the experience can be fun but don't expect to make much of a profit.

I Heard About..

a local dry cleaner with 2 locations that offered free cleaning and pressing of all business clothes for anyone who is unemployed or homeless. They want them to look their best when going on an interview and hopefully get the job. This owner has filled a need that no one knew existed and is getting a lot of word-of-mouth publicity. Where do you think that these people will get all their dry cleaning done when they are working again? How can you incorporate an idea like this in your business?

No Tolerance policy

To have a successful and growing business everyone must follow rules to avoid anything that will deter from that success. Certain acts of unacceptable behavior have no place in any positive work enviornment and must be eliminated without question. Make a list, give to each employee and post in several places.
.Stealing from the company
.Deliberate accounting errors
.Sexual harassment
.Poor treatment of customers
.Drug and achohol abuse
.Swearing or unappropriate jokes
.Destroying company equipment
.Unacceptable personal hygiene
.accepting bribes from cuatomers or suppliers
.Insubordination
.Lying or cheating about time worked
More on No Tolerance Policies in chapter 4 of the book "Save Your Business" available at www.amazon.co.uk

W-O-M

Positive word-of-mouth (W-O-M) about your business is more powerful than any advertising that you can buy. You can spend all your marketing dollars on full color ads, commercials, infomercials and direct mail and it's still not as forceful as one person telling a friend or relative to consider your business.

The person passing the good will may have had a pleasant experience or feel that they received a great deal so they want to let everyone else know about it; it's just human nature. The people who got the W-O-M passed on to them know it's sincere and was not from the company but from someone they trust. You just can't buy that kind of praise or referral because it's not for sale, you have to earn it.
More on W-O-M in chapter 8 in "The Jelly Bean Principle" avail at Amazon, Kindle or signed copies 877-700-1322

Next Years Marketing Plan

Another year is coming to an end and the new year is close. Whether you had a good 2010 or not, you hope to do better in 2011 and grow your business. The best way to experience success and business growth is to plan your marketing strategy early. Then you will know what you are going to do, when you are going to do it and how you will pay for it. Write down now the plan you have in your mind and adjust your budget to have the funds available for these marketing plans. As always use several different marketing ideas and broaden your marketing mix. It's also a good time to test new ideas and see if they will benefit your business. Just get your plan on paper soon and you can always change parts of it as you go along. Next year, 2011 will be the recovery, growth and success year for all of us!

Chamber Networking

Chamber of Commerce and business get togethers are where business people meet others with ideas in mind. Maybe your competitors are too busy to join or attend meetings and you can be there representing your industry. Some may even think it's a waste of time and it won't help their business. But you can be there to listen, meet people and even contribute.

You never know when you'll find the "Golden Goose" at a chamber meeting or event who will be a great asset to your business. Most of the networking is done during the cocktail or social hour in the beginning so arrive early and mingle. And if there is a lunch or dinner find a table where you don't know many people so you can network there before the formal meeting starts. Don't ignore the power of meeting new business people at these meetings.
More on networking in chapter 15 of my book "The Jelly Bean Principle" available at Amazon, B&N or call 877-700-1322 for signed copies.

Telemarketing With Class

If you want to be successful when telemarketing here are some Don'ts that you need to remember.
.Don't talk too fast or non-stop
.Don't be rude or disrespectful
.Don't use hard sell or high pressure tactics
.Don't disregard your local calling laws
.Don't use slang or off-color words
.Don't forget to stop selling when they say yes
.Don't make promises you can't keep
.Don't speak too loud or too soft
.Don't take it personally if someone hangs up
.Don't forget to introduce yourself first
.Don't neglect to start calling your list backwards
.Don't forget to say "Thank You" to everyone
More on telemarketing in chapter 30 of my book "The Jelly Bean Principle" available at Amazon or 877-700-1322

Generation Changes

Every 25 years or so a new generation moves into the buyer age. They may have new wants and needs in the products they buy. If you're trying to sell what appealed to the previous generation you are going to run into problems. The new generation may not want it and if it's forced on them they will go elsewhere. What was once a hot item becomes obsolete quickly. Consider whether your father's idea of "cool" is the same as your own.

The same goes with clothes; the new generation doesn't want to look like their parents. They want their own individuality and how they dress is what you see first. The manufacturers as well as the stores have to target their styles to the generation that will buy them. Styles change so quickly, especially for the younger generation, that many stores have to reduce prices to get some of their cost back.
More on this subject in chapter 13 of my book "Save Your Business" Crimson Publishing, available at www.amazon.uk

Front Line Authority

In any sales environment, there will always be front line people who have direct contact with customers. Hopefully you have selected your most cordial and knowledgeable employees for this important part of your business. In many cases they will even get to know your customers better than you, the owner does. Good front line people can supply customer satisfaction, create repeat business, referrals and loyalty which will help grow your company.

It doesn't matter whether it's a retail or business to business situation, they will get to know your customers. And your customers will get to know them also, especially the "good ones" and the "bad ones." While your big corporate competitors insist that their front line people "follow the book" like robots, you can let your good people make minor decisions on their own. This will solve many problems quickly and put a smile on the customer's face.
More on Front Line Authority in chapter 47 of my book "The Jelly Bean Principle" available at amazon.com or 877-700-1322.

Pricing Headaches

Pricing your products and services can be a real challenge only because there is no real set of rules. Here are some things to consider when tryng to set your prices:
.What the market will bear
.Your actual cost
.Your profit goals
.Your sales volume goals
.Cost to market it
.What competitors are doing
.Seasonal changes
.Service and maintenance costs
.Large quantity discounts
.Payment terms/discounts offered
.Your total overhead
.Prestige of ownership
.Discontinued item or service
.Customer or business demand
.Display & promotion costs
.Advertising & Selling costs
More on pricing strategies in my new book "90 Days to Success as a Business Owner" Cengage Learning Publ. and available for pre-order at amazon.com

Lots of Little Guys

There will be many times when your competition won't only be the big discount stores but also many smaller stores and businesses similiar to yours. It may seem that every time you drive down the street or open the newspaper you see "Opening Soon" banners and ads for new competitors. It seems like a virus that keeps spreading and you must learn to cope.

The other businesses are opening because they feel that there is enough business for everyone in the target market and are aware that you are there. If they've done their homework and checked the demographics they can project the size of your market. They are not just going into business to steal your customers but may have a new concept or idea. This may also bring new potential customers into the target market that will be beneficial to both of you. But keep an eye on them and be ready to protect your customer base if necessary.
More on competition in chapter 9 of my book "When the Shit Hits the Fan" Career Press Publisher and available at bookstores and amazon.com

Temporary Discounts

Discounting your products and services can give a boost to cash flow and sales. But be careful that the offer doesn't last too long or it will have a negative effect on profits. Here are reasons to use temporary discounts.
.Grand Opening-Get those first customers to buy from your new business
.New Product Launch-You need people to be using your new idea or product to create word-of-mouth publicity
.Selling Anything Perishable-If it doesn't sell at any price it may be trash
.Increase Cash Flow-You need immediate cash to pay important obligations
.Move Out Old Inventory-New improved products are coming on the market and the old must go quickly
.Loss Leaders-Get people in your store or on your website who may also purchase other items
.Increase Sales-makes your income statement look like you are growing and prosperous
.Fighting a Competitor-When they price cut you don't want your customers going there, match them or do better
.Point-of Sale-Catch people's eye when payiong for another purchase and make an additional sale

Error on a Good Customer's Order

There's nothing as bad as having a product delivered or a service done and it's not what the customer expected. Errors and misunderstandings happen more often than they should and sometimes it's difficult to handle. Even if it's your fault, save the customer. And how long will it take to make it right? What was once a two week delivery is now four weeks because it has to be redone. Will they now be more upset about the longer delivery?

And what if the error is the customer's fault for not checking proofs, samples or specs along the way? If the value of the order is large and the customer is at fault you need to decide if they are worth doing it over at your expense. How long and how many future orders will it take to make up for this lost revenue? And will the customer actually reorder after this problem? It's a tough call and you must make that decision.
More on customer problems in chapter 19 of my book "When the Shit Hits the Fan" by Barry Thomsen, Career Press Publishing

Employee Suggestions

As old fashioned as it sounds, having a suggestion box still works and it gives employees an outlet to voice their opinions. By having a specific place or box for them to submit ideas, it shows that you are really interested in what they have to say. Your employees see your business from a different perspective than you do, especially the job they do every day.

Their ideas and suggestions about your business are better than you'll get from any expensive consulting firm. Most people will give you their observations and opinions based on current and past experiences. They will want to make their job easier, more productive and rewarding as well as benefit the company. Always give employees some reward for great suggestions that you use and they will keep submitting them.
More on employee training in chapter 4 of my book "When the Shit Hits the Fan" Career Press Publishing. Available in bookstores and amazon.com.

Surprise Customers

Did someone ever do something for you or give you a gift for no particular reason and that was not expected. How did it perk you up and brighten your day? I think most of us like positive and pleasant surprises once in a while and we usually remember them long after they have occured. When a business does something special or surprises you with a kind gesture, it's so unusual that it mentally puts them on the top of your priority list.

Catching people off-guard with a positive surprise can really build loyalty, at least for a short time. But 6 months to a year later that feeling of gratitude may have worn off and needs to be repeated. Find a way to surprise customers and clients in a way that you know competitors would never do and create that bond and loyalty.
More on surprising customers in chapter 39 of my book "The Jelly Bean Principle" at amazon.com or www.idealetter.com

Doing Business in Germany

.Businessmen wear dark suits, solid color, conservative ties and white shirts
.Women wear business suits or conservative attire
.Chewing gum while talking to someone is considered rude
.Germans don't like surprises. Sudden changes in business, whether good or bad are not usually welcome
.Being punctual in Germany is a must. Arriving late even a couple minutes is insulting
.When introduced to a German woman, wait to see if she extends her hand .Business is very serious in Germany and they don't appreciate humor during business
.In business meetings age takes precedence over youth. In a group setting the eldest person enters first.
.People that have worked together for years still shake hands every morning like they just met
.Germans love to talk on the phone. Important decisions are not made on the phone but expect many follow-up calls, faxes and emails
.Germans guard their private life so don't phone or drop in at a German exectuive's home without prior permissiom

Tuesday November 16, 2010

Cheap Marketing Ideas for Your BusinessFor all you business owners in the Colorado Springs area I will be speaking on more cheap marketing ideas at the Black Chamber of Commerce on Nov 16, 2010 at 6PM. Ways to market your business and yourself when there is little or no money in the budget. It's at the Southeast YMCA on Jet Wing Dr. in Colo Springs. There is no cost and they love guests to come, everyone is welcome. This is my 3rd visit to their meetings and you will leave with some new ideas to use in your business. No reservation just show up and ask what room the chamber meeting is in at the front desk. See you there.

Great Phone Employees

Contact with customers and potential customers by phone is a crucial part of getting a sale, solving a problem and creating loyalty. Since you may not be able to handle all the calls yourself you will need people to assist you. These are some of the most important employees you will have because they have first contact with the caller. Here are things to look for when hiring.
.Pleasant and easy-to-listen-to phone voice
.Speaking speed not too fast or slow
.Proper grammer and pronounciation
.Positive and optomistic
.Speak loud enough without offending
.Persistent without being pushy
.Know when to stop talking
.Sense of humor but not silly
.Enjoy meeting new people
.Confident and reassuring
.Knowledgable of your products/services
.Believe in your products/services
.No hard to understand accent
.Enjoy being on the phone
.Would you buy from them by phone
More on this subject in Chapter 48 of my book "The Jelly Bean Principle"

Why Customers May Not Come Back

.A problem was not resolved
.They moved out of your selling area
.They are unhappy with your product/service
.They found lower prices & higher value elsewhere
.Your competitor has a better selection
.They don't feel their business is appreciated
.They had an argument with an employee
.Technology left you behind
.A competitor stole them away
.They now have a relative in the business
.Delivery took too long
.They no longer use your product/service
.They can't afford to buy
.Your hours don't fit their schedule
More on lost customers in chapter 1 of my book "When the Shit Hits the Fan"

Hire Superstars

We all want the best possible employees we can get for the money we're able to pay but do we all take the time necessary to select them? You must remember that the people on your staff who have direct contact with your customers represnt your total company. They are what can "make you or break you" as the saying goes. If they don't please your patrons and WOW them, there's no reason for their repeat business.

Without customers that remember your business, you're just another jelly bean in the jar. Great employees on the front line and behind the scenes are the foundation of a growing, prosperous and successful business. Don't underestimate their power in your company. Always look for that Superstar attitude in everyone you hire.
More on Superstar employees in chapter 5 of my book "The Jelly Bean Principle"

Don't Destroy Customer Loyalty

Customer loyalty is what keeps your business going in tough times and makes you grow faster in good times. But you must be sure that you don't destroy that loyalty and lose it. Watch for these signs and correct them immediately.
.Poor/miserable customer service
.Owner ignoring customers
.Poorly displayed merchandise
.Poorly designed website
.Make them wait long to pay
.Have a no-refunds policy
.Inadequate business hours
.Have a long delivery time
.Drag out solving a problem
.Making "No Exceptions" your policy
.Poorly dressed or groomed employees
.High price for low quality
.Cash or C.O.D. only-no credit cards
.Ignoring their requests or ideas
.Never saying Thank You after every sale
.Not appreciating a regular customer
.Closing before posted hours
.Shutdown to go on vacation
.Not smiling & being pleasant
More of these signs and ideas on loyalty in chapter 35 of my book "The Jelly Bean Principle" available at bookstores, online and Kindle

What NOT to Say to the Media

If the media approaches you after bad publicity has affected your business be careful what you say because it can and may be used and reported. Here are some phrases you might want to avoid.
.It's not our fault
.We're only human
.We don't have time for this
.We can't be held responsible
.We're busy, call tomorrow
.Don't make me laugh
.I was out of town when it happened
.We're not going to do anything
.We can't be bothered with this
.It's how we run our business
.Nobody's perfect
.The public will forget
.Just forget it; I did
.Go chase a real story
.Submit your questions in writing
More on surviving bad publicity in chapter 8 of my book "When the Shit Hits the Fan" available in bookstores, online and Kindle

You Can Write & Publish a Book

The Last.. Writing Your First Book seminar
It's been said that everyone has at least one book inside them waiting to be written, what's yours about? I will present a seminar on Saturday November 6, 2010 called WRITE-PUBLISH-PROMOTE at my office from 9AM to 10:30 AM (Colorado Cards, 5585 Erindale Dr #203, Colo Spgs, CO). I have 4 published business books and 2 more in process. You'll learn how to come up with a catchy title, organize chapter outlines, plan for the correct number of pages and words, write the first draft, edit, search for a publisher and agent, submission guidelines and accept rejection. Find out the difference between a mainstream publisher, print on demand, self-publishing, e-books and which one is best for you. Why pay for publishing if you don't have to. Then promoting your book after it's published using many different ways is just as important. Attendance is limited to the first 15 adults at $22.00 per person. Nothing else will be sold at the seminar. The space is limited and past seminars have been selling out so please call 719-268-1322 or email: idealetter@aol.com to reserve a seat.

Unusual November Holidays

These are some real but unusual holidays that you can use in your business for fun and profit.
1 National Author's Day
3 National Cliche Day
6 Saxaphone Day
7 Hug a Bear day
9 Sadie Hawkins Day
13 World Kindness Day
15 America Recycles Day
17 Take a Hike Day
18 Mickey Mouse Day
19 Discovery Day
19 Have a Bad Day Day
21 World Hello Day
23 National Cashew Day
25 National Parfait Day
29 Square Dance Day