A good source of business advice

As the doom and gloom seems to show no sign of lifting advice on how to build maintain or even stay in business becomes even more valuable. Of course there is a mass of business input on the web but all too often it is lightweight, not practical or contains masses of marketing hype. I came across smallbusinesspro the other day and found it really refreshing. Maybe because so much of the advice reflects what as a business coach I tell my clients every day. I seldom recommend sites on my blog but here are some guys who have a positive contribution to make in the current hard times – check them out.

Strike up the band!

I was reading the BBC news site about the downturn reported by Chamber of Commerce members this morning.  Everywhere you look it is doom and gloom.  Radio 3 was on and Mrs K was in the bath.  Suddenly they played Land of hope and glory – fantastic.  That rousing music from another age really lifted my energies on a cold, wet, dark morning.  Why not find some music which gets you going and pop it on when things are looking a bit down?  The Elgar certainly cheered me up.

 

Maybe you are right Mr Customer?

I was renewing a domain through my web hosting company the other day and I just could not seem to get past the first screen which asked me to review my details.  I clicked and clicked away but no progress.  I am sure you have had similar experiences.   So I sent a help me message to their contact email stating my problem.  As it was in their interests to get my cash I did expect a reply which indeed I got in rapid quick time.  However I was not expecting them to tell me that maybe the log in was not actually that intuitive and they would look at improving it.  How refreshing to have a business say we have looked at this and perhaps we could improve things. Well done http://www.rapidhost.co.uk/ In an age when the customer is usually wrong it is heart warming to see a company listening and responding in such a way, especially a technical one.  What can others learn from this?

Changing times – changing messages

If ever we needed an example of how far the retail sector has to plan ahead and how quickly the credit crunch has hit, one only has to look at Selfridges in Oxford Street.  On the doors, the famous store invites us to ‘indulge ourselves’ and every window announces ‘The more the merrier’.   How times have changed. Have you changed the messages you are putting out to your audiences to reflect their current mindset?

There is no angst in action

It always amazes me how many people run their business from fear rather than courage. Worry is not a process therefore when in the fearful state nothing moves forward.
When clients talk to me about their fears I just say ‘do something – anything’. Make a decision, get into action, now, not tomorrow – do not delay. If someone shouts fire you evacuate the building without a thought. I can honestly say that n my business I spent very little time worrying as I was far too busy doing. My doing produced results and there was nothing to worry about. Simple eh?

Consistency is key

In business consistency is vital as people find lack of consistency really confusing.  Nowhere is this more pertinent than in your marketing materials.  The more you repeat the same thing in the same way, the more likely it will have a lasting impact on your target audience.  Take proposals for example.  When checking the ones my staff wrote I invariably found the same thing referred to in different ways.  For example, the use of project, programme, campaign or using different words to describe them like company, business, enterprise, operation and so on.  The same applies to web sites and in fact anywhere you are writing copy which you want your reader to understand without a pause or raised eyebrow.   Why not check some of your copy now and see if it is consistent or confusing.   

Profit from a quick night and day check in.

I was at Tate Britain bright and early last Friday for the fantastic Holbein exhibition. There was Henry VIII and some of his wives and pals staring out from the walls just like they were around today. But it was not the great artist which fascinated me most but one of the staff walking around with a binder full of photos. He was checking every masterpiece with its photographic equivalent to ensure that they were all there. He said he did it every morning and every evening.

As employers I was wondering how regularly we check out our investment in human resources – the people who work for us every day. Are they well prepared to start their day? Are there any problems or uncertainties which need to be resolved? What were their successes at the end of the day? If you have set targets how well have they achieved them? In the engagement process remember to regularly recognize their contributions too. Most people quit their jobs because they feel unacknowledged and undervalued. Your staff are just as valuable as any painting on a wall. Do you check they are all present and correct as regularly as you should?

Whatever happened to business ethics?

Call me old fashioned but have business ethics changed or have the liars and cheats always been with us but through the media they are just more visible? The indomitable Ruth Badger of the Apprentice when asked if she would lie on a CV replied ‘sure I would.’ My esteem for the super sales woman dropped in an instant.At a more serious level, the corporate world is littered with senior management who not only lied and flaunted the law but caused mayhem with the lives of their hard working staff.  For me, trust is an essential element of doing business. Without it you might as well not bother.

I have always worked on the premise that before you open a door you never know who will be sitting at the desk on the other side. Names you remember vaguely or had forgotten entirely have a nasty habit of materialising from the past. If your history with them was not positive their impact can be very painful. If you have never done anyone down or cheated in the business process you have no fear of this ever happening to you. Honesty has always been the best policy. It also ensures you get a good night’s sleep. In my view business is stressing enough without the added worry of what you might have done in the past effecting the quality of your future.

What’s your pricing costing you?

‘Medium or large?’ the Polish Costa coffee girl asks in response to my request for a cappuccino at Paddington. ‘Er medium’ I blurt out, thinking that the large will have me making multiple visits to the loo for the rest of the day. As I make my way to the train I start to wonder what has happened to ‘small?’ The next occasion I travel that way I see they do small, medium and large coffees so I firmly ask for a small cappuccino ‘Medium or large?’ the girl demands.

Clearly the programming goes deep. ‘No small’ I reply. I am served a small and a scowl. I now understand that this is common practice in coffee shops in London. The sales strategy I mean, not necessarily the scowl. Manipulative marketing or just a sign of the times? You decide! But maybe it is time to question how well you present your prices in your sales process. Is it easy for your customers to make buying decisions or do they have to go through a pricing maze?

Pricing is a state of mind

There are many factors which determine what you charge for your products and services; the strength and proximity of competition, customer demand, surplus stock holdings and so on. On some occasions prices are even based on an accurate assessment of what the product or service actually costs to produce or provide. However, the state of your price book can also be effected by your background and state of mind. If your thinking is cluttered, then your pricing structure might lack clarity too. Marketers are more likely to create offers than accountants. If you are fearful (a common trait in most moribund owner managed businesses) then your prices are bound to be set to the lowest common denominator or in this case customer. With one client recently we simplified his prices created a couple of offers and raised them overall by around 20%. This resulted in absolutely no loss of business and a large gain on his bottom line. Pricing is a huge subject of which I will write more over the coming months. In the meantime how do you fix your prices and isn’t it time for a review?

Get big, get niche or get out

Unless you are a huge organisation which dominates the market, identifying and exploiting a niche is absolutely key.

I was reminded of this today as I crossed Vauxhall Bridge. A dark blue van passed by and under the company branding were the words ‘graffiti cleaning division’. Even companies providing an apparently basic service like cleaning can establish and promote a distinctive position in the market. And what a great offering it is. You can immediately see the target audience and the way the service could be marketed. So do you have a niche or are you a generalist, rather than a specialist? You really can achieve more sales by adopting a narrower focus. If you don’t know how just ask me.