Manage Your Business in Difficult Times
May 30, 2010
The primary objective of any business is to achieve maximum profitability and productivity. Even knowing this, it’s alarming how many business owners get into trouble with managing and marketing their business when something goes wrong. Preparing for a rainy day requires sacrifices (at first) that will pay off in the long run.
“Circumstances may cause interruptions and delays, but never lose sight of your goal. Prepare yourself in every way you can by increasing your knowledge and adding to your experience, so that you can make the most of opportunity when it occurs.” ~ Mario Andretti (Auto Racer)
One of the challenges of running your own business is all the different hats you have to wear. It’s your responsibility to manage and market your business, and if you do not do it personally, there should be systems and processes in place to get things done.
If managing your business is killing your productivity & profitability, then make sure you have an active business plan that keeps you focused to maximize your business potential. The business plan is the heart and soul of your company and the platform from which decisions must be made — such as human resources, marketing, finance, products/services, client service, etc. Free sample business plans can be found at www.bplans.com/sample_business_plans.cfm.
Proper business management starts with these important steps aimed to increase revenue and decrease overwhelm (during good and bad times).
- Get & Stay Organized — Organization is the key to being able to properly manage your business. Disorganization leads to wasted time. Make the process of managing your business/clients and selling your products/services less frighten by effectively managing your time and staying organized.
- Maximize the Clients You Have — Make the downtime period a time to communicate value and increase sales with existing clients because not all of your clients suffer during recession. It is much easier to focus your marketing efforts to clients you are already building a relationship with.
- Increase Brand Awareness — Know your USP (unique selling proposition) and find new advertising opportunity to increase brand awareness. Use every opportunity to create additional demand for your product/service offerings. The ultimate goal is to ignite an emotional connection of loyalty to a specific product/service from clients.
- Trim Your Marketing Budget — Avoid marketing methods that produces minimal results. Trimming your advertising cost during difficult times will give less of a return than during an economic boon but your profit margin won’t plummet. Instead, think about low-to-no-cost marketing – like free publicity in the local newspaper. Every advertising dollars saved, is more profit you will earn. For instance, calculate how much you are spending as most businesses can cut this amount in half by allowing some flexibility in the budget. You will find that you can actually build a healthier business on a slimmer budget.
- Consider Hiring Professional Help — If you are overwhelmed in your business, then stop trying to do it all by yourself. It is a difficult task to survive and grow your business solely with your own efforts. Beware of the pitfall of trying to do too much on your own because there are other professionals (such as a coach for professional development or virtual assistant for admin. tasks) to help you save time and money to grow your business.
The business world belongs to those with a step-by-step plan of action for growth. Using these five easy steps will help your business survive and generate a sustainable profit. A well-managed business will transform challenges (such as the economy) into opportunities by creating new methods of doing business that weren’t considered during good times – but is necessary for maximum success.
About the Author: Althea Francis is a Certified Life Coach & Business Strategist at MITCEY.com, a coaching and freelancing company that helps small business owners to manage and market their company. Althea works personally with clients to deliver business strategies that fit their personality, goals, and work-style to achieve maximum results. Her passion is to empower freedom in business and life by leveraging the power of the internet to increase revenue and decrease overwhelm. She is available by e-mail at althea@mitcey.com or by phone at 416-725-0598. Visit her website: www.mitcey.com to learn more and sign-up for the free success newsletter, “Passion Needs ACTION”.
Take care of your most important asset…YOU!
April 30, 2010
I was extremely sick the other day, the recovery process was slow and Mary Fenuta of Passionately Inspired Solutions Inc. was kind enough to share her strategies for us to stay healthy in order to pursue our passion – it also inspired me write an article “Manage Your Business in Difficult Times”. Below is her expert advice to inspire you to take care of your most important asset … YOU!
Mary E. Fenuta, C.P.P., C.P.M. wrote:
I truly believe in doing everything as natural as possible, so here are my tips for cures to build up the immune system:
- Prior to your meals (15 minutes) Start with building your ‘good’ intestinal flora with a well recommended probiotic/acidophilus (there are many on the market, but if you like the taste of yogurt, BIOK+ can be found in the refrigerated section of the health food side of Loblaws, Fortino’s, Zehrs, Metro
- With your meals take high dosages of vitamin C (good health store quality, approximately 5,000 mgs for 3-4 days—only side affect is a runny stool…then back down on the dosage slightly
- With your meals take oregano oil (comes in gel format—the actual oil in the bottle is very powerful and can burn your tongue—but if you CAN handle it, the straight-up oil drops are the best—you can mix a few drops with a little water and swallow…trust me, this will clear your sinuses fast). Oregano oil is great for clearing bad bacteria or Candida (fungus) from our bodies—we all have this
- Eat lots of oranges at the same time….fibre side of the vitamin C is great for you
- Take Echinacea tea (Traditional Medicine Brand Teas is great) with honey for a soar throat/taste –fresh ginger and cinnamon stick included while steeping the tea
- Think positively about the experience. Love this experience and do not resist it. You know what they say…(What you resist, will persist!) Say positive affirmations such as:
- “I allow my mind to relax and be at peace. Clarity and harmony are within me and around me. All is well!”
- “I choose to allow all my experiences to be joyous and loving…this cold included”
Take time and schedule some rest, our bodies tell us when we have been forgetting to do so.
Inspirationally yours,
Mary E. Fenuta, C.P.P., C.P.M.
CEO
Passionately Inspired Solutions Inc.
www.PassionatelyInspiredSolutions.com
647-233-2133
Get Clients with These Words…
March 26, 2010
Here are the *exact words* to say to get clients. I’ll share them with you in a second, but first here’s my personal “blood bath” story of “networking event terror”…
How do you feel when people ask,”so, what do you do?”…
Do you feel confident because you know exactly what to say to end up with new clients? Or…
Do you freeze up, get nervous,and try your best to fumble through with an explanation and get ZERO clients from it? Personally…
I used to get VERY nervous and get this tight feeling in the pit of my stomach because I wasn’t sure what to say and even when I did have something “planned” to say, people would look at me weird. Or…
They would nod and smile and say “very interesting” in a way that made me know they didn’t think very highly of me.
It was VERY FRUSTRATING! But then I figured out a way of taking those situations and having the reverse experience. Where
people would immediately say…
“I need that. I’ve been looking for someone like you all my life. Would you be *willing* to work with me?”
I remember the first time I had that reaction from someone. I was totally floored (but I kept my poker face on and ‘played it off’ like this sort of thing happens to me all of the time).
People probably ask you what you “do” all of the time. If you ever go to networking events, then sometimes you “get to” say what you do in front of an audience.
That can make you even more nervous, but if you do it right it’s really a chance to give a “Client Getting Commercial”.
You get to give a ‘commercial’ to people 1 at a time or in front of a group. But…
If you don’t know what to say, this opportunity can quickly become a nightmare.
In my program, “Client Attraction & Money Making Mastery”, I teach a formula for quickly writing up your own “Client Getting Commercial”.
I’m going to give you the formula for creating your “Client Getting Commercial” and then I’m going to give you several different “Client Getting Commercials” thatyou can take and use as your own.
OK, so here’s the formula for creating your own “Client Getting Commercial”…
Answer these questions:
#1. Who do you work with?
#2. What is their biggest problem?
#3. What do you do to help them?
#4. What result do they end up with?
I recommend that you answer these questions yourself and create your own unique spin on this. But…
Here are some examples of the ‘Client Getting Commercials’ in action.
You can think of them simply as examples OR you can take them and use them as YOUR OWN. Enjoy…
-> For Business Coaches: Say this…
I help business owners who are spending too much time at work to clarify & prioritize their focus so that they can make more money and work as little as they want.
-> For Weight Loss Coaches: Say this…
I help women that are struggling to lose 20 pounds or more to actually stick to their diets and slim down to their sexiest weight.
-> For Sales Coaches: Say this…
I help high commission sales professionals that are struggling to make enough sales, streamline their sales techniques and work more efficiently so that they can double or triple their commission checks.
-> For Parenting Coaches: Say this…
I help parents that are ‘at their wits end’ because their children are talking back, doing drugs, or hitting people and teach them what to say and do with their kids to turn their children into well behaved people headed for successful lives.
-> For Dating Coaches: Say this…
I help single women that are having trouble finding and keeping a great man to become the kind of woman that is open to love and easily attract the man of their dreams.
Or this…
I help single men that are having trouble with dating to discover what really attracts great woman and overcome their insecurities so that they can get all of the dates they wantwith the kinds of women they want.
-> For Leadership Coaches: Say this…
I work with leaders and managers that are being pressured to squeeze more results out of their team and I show them how to
use personal coaching techniques with their team so that they double their productivity & profitability.
++++++++++++++++++++++++++++++++++
These types of “Client Getting Commercials” will get you clients because…
#1: Identifying a specific type of person and talking in specifics always out-performs speaking in “generalities”.
Most coaches talk about “getting to the next level” and “bridging the gap”, but ultimately those things are too
vague.
#2: You’re addressing their BIG problems, and the emotional pains that these problems are causing them is exactly what motives people to take action and get help (your help).
#3: You’ve explained, in a very concise way, how you work with people. This way they “get” what you do in way that makes sense and isn’t confusing.
Notice that none of the examples above even mention the word coaching! Why? People don’t care about HOW you help them get results. They just want the results.
#4: You’ve talked about the specific RESULTS that they want. That’s the other thing that motivates people to buy coaching.
Now, here’s what you need to do…
Pick the “Client Getting Commercial” from above that most closely matches the people that you work with and practice saying it over and over (5 times or so) until you have it memorized. Then…
Think of some places where you can actually use this over the next few days and watch how people respond.
Notice how people start getting very interested in what you do by asking for your business card, telling you that they know someone who needs you, and if they are in the situation you described…
“They’ll practically BEG you to help them”
Now go do it!
Christian
Christian@CoachesWithClients.com
http://topcoachmastermind.blogspot.com/2009/02/get-clients-with-these-words.html
TRANSITION!
February 13, 2010
‘From that time, JESUS began to preach and to say, ‘Repent for the kingdom of heaven is at hand.” (Matthew 4:17– NKJV)
Do you know the reason you have been feeling differently about the things that are going on around you versus the way you felt just a couple of years before? TRANSITION. GOD is causing the disciples of JESUS CHRIST to truly go through a change. We should not be surprised at this because when you walk with CHRIST, (truly walk with Him and not some ‘representative’) there will be a change that takes place in you because what He reveals, teaches, and says is DIFFERENT than anything else that you will hear or experience. Take some time and look at the life of the disciples in the Scripture that walked with Him as He was on earth, weren’t their lives changed? What makes you and I think we will be any different?
TRANSITION: that is what is taking place. Going with it equals going with Him.
***
Came across this and had to share because it inspired me.
God bless,
Althea
The Key to Your Success is in Your Hands!
August 11, 2009
You cannot do everything, but you can do something.
Only you can make it happen.
No one can do it for you.
No one will do it for you.
Always accept the responsibility for your actions.
Always set a higher standard for yourself.
Choose the thoughts and actions that will lead you on to success.
Your success is but a determined action away…
© Copyright 2007 www.yourdailymotivation.com – Nov. 19, 2007.
Althea’s Successful Sista Survey
April 4, 2009
Below is my contribution to SistaSense to help other business women of color. Hope this helps you ~ Enjoy!
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http://www.sistasense.com/2009/03/03/althea-francis-successfulsistaprofiles/
Althea Francis’ Bio:
Althea Francis (a.k.a. MITCEY) is a Business Strategist & Certified Life Coach. Althea also has an online business management background which allows her to work well with her clients to help them unleash their unlimited potential. She teaches simple, innovative and powerful strategies to help business owners find and keep their most profitable clients.
MITCEY Coaching was started to form alliances and to help educate service professionals (such as coaches, consultants, speakers, and virtual assistants) about the benefits of setting up their practice properly in order to thrive online and achieve a balanced work-life.
SUCCESSFUL SISTA SURVEY
Success Stories and experiences of Business Women that we all can relate to and learn from.
Did you always want to be a Business Woman?
YES! I always wanted to be a successful business woman to inspire and empower others to live an authentic life, full of passion and purpose.
How would you describe your experience as a Black Entrepreneur?
Challenging but rewarding because thrive in adversity. I know that black entrepreneurs face more barriers but it has also motivated me to work harder to affect change for black entrepreneurs – – if not in my life-time, then my son’s.
Looking back on your business decisions, is there anything that you would have done differently?
As a coach, I should have invested in a start-up coach when I began to help eliminate the costly mistakes. As a result, I have found my calling as an online business coach/manager to help other coaches, virtual assistants, and consultants to set-up their practice properly before they can effectively handle their clients’ workload and successfully grow their businesses.
I truly believe that true entrepreneurs grow from their experiences rather than quit. At this stage in my development, I refuse to live my life having regrets.
Did you have any formal business training? Do you think this is important to be successful?
Yes, I have been blessed to have had formal business training and thankful because it is important for longevity. I have earned my post-graduate in fundraising & volunteer management – learned how to start and run a successful business (in the non-profit sector), an accounting and payroll diploma – learned to manage the business books. I also have my certification as a payroll compliance practitioner (PCP) and am a certified life coach (CLC).
What funding sources have worked for you?
I have never applied for any loans. When I started in 2001, I used the bartering system to exchange services, cut cost and build credibility in my niche market. In addition, I also worked outside the home full-time until I started earning money and then stepped out in faith.
How has family/friend support financially or otherwise affected your business efforts?
No financial support and very little encouragement from loved ones which did not discouraged my business efforts. Looking back, I should be thankful because it forced me to lean more on my heavenly father for support and guidance since He designed the blueprint for my life.
How do you work on making your business grow?
A strong work ethic contributes to high standards in my personal and professional life. I believe in lifelong learning and have also formed alliances with elite performers (who have been there, done that), to help me stay focus on my goal to grow a successful business.
What words of wisdom can you share with other business women?
Without sounding cliché, stay true to yourself! Find your calling in life and make it your mission to bless others in order to receive your blessings. It is especially true in business because you are truly not successful until you have helped others achieved success.
Equally important is to have a mentor/life coach in each area of your life (such as faith, business, and personal, etc.).
View more Successful Sista Profiles: http://sistasense.com/index.php?s=”Succesful.Sista.Profiles”