Marketing and Business Tips

Marketing and Business Tips

7 Step Business Development Program From The E-Myth

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Back in 1986 I came across a new book (at the time) entitled The E-Myth: Why Most Small Businesses Don’t Work and What to Do About It by Michael Gerber.

I remember reading the book and thinking about how “revolutionary” it was for owners of small businesses. I found myself going back to it from time to time to help me think strategically. My wife and I both grew up in family-owned businesses and we were very appreciative of the struggles and opportunities of business ownership. So when I read E-Myth, it was like gold to me! However, I found myself needing to review it periodically because it was such a different mindset than I was used to.

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What To Do When Shifts Happen

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The marketplace today is vastly different than it was two years ago. In fact, it’s different than it was just six months ago. Some businesses are struggling while others are thriving – what makes the difference between an ordinary business and an extraordinary business? Between a business that thrives, no matter the shifts, and one that folds?

For most business owners and sales professionals, it boils down to 2 things: Mindset and Behaviors!

When a shift occurs in the marketplace, confusion usually follows. Consumers are confused, investors are confused, and businesses are confused. This confusion leads to fear. The most important thing for entrepreneurs and leaders at this time is to focus on the fundamentals.

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This Engine Will Grow Your Business

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As far as business growth strategies go, one we always come back to is marketing. The reason for this repetitiveness is that marketing has many facets. In fact, marketing is often THE sole system that holds business growth back. It’s also the one system that can propel your business into dynamic growth.

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The Sales Process: 2 Key Responsibilities

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As a business owner and entrepreneur, you have many responsibilities. One of the most important is the successful execution of a sales process. One of your main goals as a business owner is to make a profit…and you can’t make a profit if you can’t make sales! However, this is easier said than done. When it comes to successful sales, business owners have 2 key responsibilities.

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An Important Activity Most Business Owners Overlook

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“Most folks are about as happy as they make their minds up to be.” – Abraham Lincoln

Abraham Lincoln was right. Your happiness and mine depend largely on how willing you and I are to be happy. And our willingness includes the time that we are willing to dedicate to stepping away from our business, having fun, and simply enjoying life.

However, if you are like most business owners, you probably don’t plan for and schedule out enough time to have fun. And if you do get a chance to have fun, it happens in the margins, every once and a while, or not even at all. You may end up neglecting your hobbies, your family, your friends, your pets, and – most of all – yourself.

Most owners I meet are striving for some kind of balance in their lives. But you have most likely realized that if you do not make time for fun, if you don’t intentionally plan for time off, the balance in your life will not happen on its own.

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Hiring Talent: 3 Things to Look For

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Identifying and hiring talent has been a passion of mine. Over the years I’ve interviewed and assessed literally hundreds of very talented professionals. I continue to be fascinated by every individual that I meet and get to know. There is so much human talent and potential in the world that I find this part of my work extremely gratifying.

But as employers, when we assess and interview, what are we looking for? How can we be more effective in hiring talent? Of course, we all look for a good first impression – Does the individual present themselves well? Do they have a neat appearance? Do they communicate well? Do they have an appropriate and/or professional manner?

If we’re wise, we also do a background check and we check their references – Are they honest? Are they dependable? Do they work well with others? Are they teachable? Do they have a good reputation?

But how do you know they can actually do the job for which you are hiring them? I like to look at 3 aspects of each individual person.

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3 Realizations to Help You Fail Forward

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A few years ago, I had the privilege of speaking to the Katy Young Professionals, a group of younger business leaders in the Katy Area Chamber of Commerce, Katy, Texas. I always enjoy speaking to young professionals groups! Our topic was “Failing Forward.”

One of the most common fears people experience is the fear of failure. Our mindset about failures can be a major game-changer in our business and our life.

Over 10 years ago I was inspired by the book of the same title, Failing Forward, by John C. Maxwell. In it John says:

“The difference between average people and achieving people is their perception of and response to failure.”

I agree. People who don’t care about success and failure are not going to be high achievers. Neither are people who care “too much” because they will be paralyzed by the fear, thus unable to accomplish great achievements. How we view and respond to failure will determine our level of achievement.

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5 Stages of the Small Business Lifecycle

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Yesterday I led a Strategic Retreat for business owners where we talked through this topic. These retreats take place every 90 days. It’s a full day away from your business to work “on” the business instead of “in” the business.

Every quarter we assess where our businesses are and where we are as strategic business owners. We set goals and we hold each other accountable to our goals and vision. We create a written plan of action for the next 90 days, and then we come back in 90 days and do it again. Each quarter we also work on some strategic system in our business. Yesterday this group had great accomplishments to share and they engaged our process with passion.

Everyone assessed where their business was in the small business lifecycle. Good business management is essential as small businesses move through the cycle. Here are the 5 stages that small businesses go through.

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