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If You’re Still Asking What Business You’re In, You’re Ahead of Them

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Questioning Success

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Possibly the smartest businessman I ever met is a guy named Ed. He is the key partner in a prestigious equity firm on Park Avenue in New York City. I met him in a meeting to discuss a company he owned. He ended up hiring me to conceive and drive the strategy to turn that company around.

It’s no wonder I think he’s smart. But truly other folks think so too.

After I’d worked at the company for almost 6 months, I realized something about how Ed was seeing this company that he owned. Because all of his other companies were publishing magazines and newspapers, he figured our book publishing company would work the same and grow the same as those he already owned.

But book companies are significantly different from magazine and newspaper companies in the fact that the Inventory investment — books — lasts so much longer. A newspaper dies within a day. A magazine is done a month later. A book can live for years. What that means is that a mistake in a book is far more costly because it represents inventory that can’t be fixed until that huge investment on the shelves in the warehouse has been sold or burned.

Ed didn’t realize that simple difference until I said it.

I didn’t realize until that moment that Ed didn’t know what business we were in.

From that moment decades ago until this moment now, I’ve made it a mission to start with the idea that everyone I work with needs to know what business we’re in. What I’ve experienced is that from entrepreneur to CEO of huge corporations, those who truly know what business they’re in are fewer than I’d imagined.

  • Some had lost sight of their actual customers.
  • Some saw their value proposition differently than their customers did.
  • Some were trying to reconfigure their customers to fit their idea of what business they were in.
  • Some thought they were smarter than their customers.
  • Some were trying to be the business they had always been.

Some never had asked the questions, “What is our business? Who do we serve and why do they care?”
Some had asked those questions and answered them. Then the business changes, the economy changes, the customers change, and they forget to ask again.

And as a result here’s what I saw happen over and over and over again. The little company who still asked the question would get the customers. They’d have the 10-foot booth at the big trade show (think CES) one year. A few years later, they’d have a 60-ft booth at the trade show. Not much later, they’d have a 90-foot booth at the trade show and be looking to their corporate partners and possible acquisitions to grow <-- losing track of what business they were in.... and while they were looking at other businesses, another little company who still asked the question was talking to their customers from the 10-foot booth right next to them. The biggest mistake a successful business makes is to quit asking the questions that got them there.
Whether you’re an entrepreneur, a small business, or a corporation, if you’re still asking what business you’re in, you’re ahead of them.

What business are you in?

Be irresistible.
–ME “Liz” Strauss
Work with Liz on your business!!

How Do You Get the First Client? Five Critical Steps

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No Tells Us That

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As I talk to new entrepreneurs, I find that one burning problem is their biggest frustration.
The problem cuts to the basics of growing a thriving business. It applies every business online and offline. It’s the most important question and the one that least often gets mentioned.

The problem came up in a conversation I had at SOBCon NW in Portland. The conversation went like this …

Me: Did you get a chance to talk to AJ about his business?
New Entrepreneur: Yes.
Me: So, it seems like what he’s doing correlates well to where you want to be.
New: Yeah. True. He told me a lot about where I want to be, but what I want to know know is …

What did he do in the first six months? How did he get his first client?

5 Critical Steps to Getting Your First Client

We can know we’re good at something, but not believe it. We can know our expertise, but not have the previous clients to show that we can deliver. That gap can seem like the difference between hugely succeeding and falling into the abyss in which our rent goes unpaid and we find ourselves looking in the mirror wondering what were we thinking?

People say a leap of faith and a lot of passion will get you there, but we’ve all seen faith filled passionate action go crashing. Here are the five critical steps to making that first client happen with less risk and exponentially more chance of success.

  1. Decide on a job description that fits you. Rather than reconfigure yourself to fit a pothole or a problem, figure out what you’re most suited to be going. Your past successes will tell you what you’re good at. look for the crossroads of your [expertise, experience, talent and skillsets] and your [favorite ideas, people, enchantments, and work-like things that you find fun.]

    I see and connect things differently and with great speed. I tear ideas apart and put them together in old ways and new ways and adjust them faster, easier, and more meaningfully for any audience you put in front of me. My successes all included leveraging opportunity, traditional teaching, innovative thinking, strategy, business growth, strong networks, branding, marketing, and community building and I loved doing all of it.

    Job description: I use opportunity thinking and relationship strategies to connect businesses with their customers in irresistible ways. [No, I never actually say that. Who actually recites their job description? Still it’s good to know it.]

  2. Define at least one clear, concrete offer that you know in your bones you can deliver — in case someone asks you. A job description or even an elevator pitch is not an offer. An offer is a defined, discrete, reasonable, work transaction that can be presented for acceptance.

    An offer: I offer a 2.5 hour workshop called, “Who’s Talking about You?” In the ideal scenario, it’s three parts:

    1. 45 minute presentation with Q&A
    2. 30 minutes of teamwork to immediately explore the information and set it to action
    3. 30 minutes of building on what the teams have recommended to give feedback and apply the concepts teams have been exploring even more deeply
  3. Identify the people who already have an interest in you and the kinds of things you do. Reach the reachable. The goal is one first client.

    4. Value their attention. Listen to what they’re saying.
    Value the time they spend. Get to know what they invest their time in.
    Value their time when they listen to what you’re saying. With that in mind …

  4. Don’t ask how you can help! That question makes the conversation about you not them. When someone I’ve never worked with asks, “How can I help?” the best answer I can give is “I don’t know.” The question itself puts the burden of thinking on the person being asked. That person has to scan and sort:
    • all of the possible places he or she could use help.
    • what possible expertise, talents, and experience you have
    • how the two might fit together efficiently.
    • the risks, rewards, and possible outcomes of trying it out.
  5. Instead, ask “What are your goals for the next 2 quarters?” Make the conversation about them not you. Then listen actively — ask clarifying questions as you do — until you can visualize and articulate exactly where the potential client wants to go and how he or she is thinking about getting there.

    6. Keep listening and asking questions until you can say with credibility, “Here’s how I can help you get there faster, easier, and more meaningfully.” Then suggest one small bit you might do to show him or her what you mean.

Most offers — first or hundredth — don’t work because the size of the offer is too big for the amount of trust that exists.

What that first client wants is what the 100th client wants — a professional who considers it their mission to be mission critical to the client’s goals. Proving that you can listen long enough to hear exactly where the client wants to go also proves that you’ll listen when you work together on a project that the client wants to get done.

In a conversation, you demonstrate how you can work together with professional ease. Now you can offer a sample or a small first job that has a chance of success, because you’ve built trust for the offer to sit upon.

What first client stories do you know?

Be irresistible.

–ME “Liz” Strauss
Work with Liz on your business!!

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Should I Follow My Dreams and Open a Small Business?

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The dream never dies for many individuals who envision the thought of starting up their own business and realizing part of the American dream.

With the present state of the economy, however, there are many who fear that the timing for opening a business is not good presently and may not be good for some time to come.

The present timing, however, may actually be good for starting up a business, especially given the fact that the job market continues to remain sluggish at best.

If you’re contemplating thinking about opening a business, here are some things to consider:

  • Compile a professional business plan – Never go into battle without a solid plan, especially when opening your own business. The most important aspect of the plan should be the financial angle, detailing how you will see a return on investment (ROI) sooner rather than later. Unfortunately, too many individuals fail to put together a winning plan or even a plan in general, leaving them ripe for failure;
  • Employees or all on my own? – One of the big questions for individuals is deciding if they will go it alone or have staff on board to help them with their business. On the plus side of going it alone, you are saving on salaries and possible health benefits, along with not having to look after others, whose decision making can impact your business at times in a negative manner. On the down side of going it alone, you are tasked with much more work and effort, leaving you little time for anything else;
  • Don’t be afraid to seek advice – For too many people starting out on their first small business venture, they’re afraid to get advice from other like professionals, including possible competitors. While you don’t have to ask 100 questions, do not be afraid to have some discussions with others who have successfully turned their dreams of owning a small business into a reality. Owning a small business is a continuous learning process, so be prepared to learn seven days a week;
  • Have a Plan ‘B’ in place – While you have to have a clear and positive attitude when opening up your new small business, don’t forget to have other options should things not work out. How will you cope financially if the business does not take off or even has to close? Do you have enough financial resources in place to support you and/or your family if things fail? What timetable do you have in place if things are not working out to pull the plug on it? These are just some of the things you need to be able to answer sooner rather than later;
  • Stay positive – This is likely the most important but less thought of matter. It is very easy to turn negative when the bills start piling up, you hit a lull in customer sales, and the outlook is bleak. Throwing in the towel on your lifelong dream should only happen when you have exhausted every alternative and then some.

As you can see, opening your own small business, especially in today’s up-and-down economy, is challenging at best.

Then again, don’t you like challenges?

Photo credit: yourpassionatebusiness.com

Dave Thomas writes extensively for B2b lead generation online resource Resource Nation that provides expert advice on purchasing and outsourcing decisions for small business owners and entrepreneurs. He is an expert writer on items like factoring services and is based in San Diego, California.

GenConnect’s Laurel House and Liz Strauss Talk Irresistible Attraction

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Who Gets You Where You’re Going

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In a lovely conversation with GenConnect’s Laurel House at BlogHer in August, we explored the questions:

  • What makes an irresistible offer?
  • How does being fully-expressed in your work remove the problem of self-promotion?
  • How do you start the first connections with people you want to meet?
  • How does celebrating your heroes make you and your business better?
  • How are values a part of your attraction?

What works best for you to connect your business to the people who love what you’re doing?

Check out GenConnect – the place to connect with life’s experts.
You’ll find Laurel on Twitter as @QuickieChick

Be irresistible.
–ME “Liz” Strauss
Work with Liz on your business!!

Finding a Job After College: What They Don’t Tell You In School

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A Guest Post by
Amy

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Tons of Jobs Out There for Me?

Last year, I graduated with a Bachelor of Science in Business Administration with distinction and a 3.8 GPA. As a marketing major, I was always told that there were “tons of jobs out there for me” and that employers were “looking for my set of skills” so I wasn’t very concerned about the job hunt ahead of me.

I started looking for a job during my final semester, and when no offers for interviews came I figured it was because I wasn’t available yet and I would have to graduate first.

After graduation, I moved to a larger city and started to focus solely on my job hunt. I would apply for 10 to 15 jobs each day, but many came back with a rejection email because I didn’t quite fit the skill set needed. Most of my applications went without a response at all. I started to feel discouraged after a few weeks thinking that I wouldn’t be able to find employment. After all, the unemployment rate is rising, and I had much less experience than others in my field.

After a while, I finally got my first interview request. I was completely myself and felt comfortable during the first round, which resulted in a request for a second interview. However, I got nervous during that second interview and got a rejection email the next day.

In my second job interview, I decided not to let anything keep me from being myself. I got through both rounds of interviews with flying colors and was offered the job. However, the hours were long, the pay was low, and I would be knocking on doors selling a product. While those qualities may have been alright for someone else, I wanted something a little different. After careful consideration, I turned down that job.

On my way to my third interview, I was already planning on where I would drop off more resumes on my way home. I knew very little about the company and it was impossible to find their website online. But I knew as soon as I walked in the door that this was the place for me. This place had flexible hours, good pay, great atmosphere, and wonderful people to work with.The interview lasted five minutes and I knew I would accept any job they offered me. Turns out, third time is the charm.

After my three month long job search, I feel that I have grown a little wiser. The job hunt is frustrating for anyone, whether they are just coming out of college or in the middle of their career. Along the way, these are the points I have found that may help you find your perfect job.

  1. Don’t be discouraged – Anything you are feeling during your interview will read all over your face. Smile and be yourself. This way, your employer won’t be expecting “interview you” when you walk in the door on Monday.
  2. Keep throwing darts – Keep applying for anything that seems remotely interesting. If you throw enough darts, eventually one will stick.
  3. Look for something different – Don’t just look for a specific position. For example, most marketing majors start looking for marketing jobs, but most of those job listings online are for door to door or over the phone sales people. Again, this may be what you are looking for, but sometimes your skills may call for something else. While looking online, search for keywords like “entry level” if you’re looking to advance, “writing” if that’s what you enjoy, or simply browse the different job listings in your area. There may be something there that you would have never looked for in the search box.

    Don’t forget to visit the actual websites of companies where you think you would like to work. Some of them may not be using a website like Career Builder or Monster.com, and some smaller companies may be using Craigslist because it is less expensive. Also, look in places you may not have thought of at first. Hand in resumes to businesses around your home. Actually giving them the resume in person will probably make you more memorable to the person hiring for the company.

  4. Interview them too – While you are in your interview, make sure you are asking questions too. You need to make sure this job is right for what you want in your life as much as they need to make sure you are fit for the job.
  5. Relax – It may take some time, but something will happen if you work hard enough.

What tricks do you have for finding a job after college?

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Author’s Bio:
Amy Gardner writes financial topics including small business credit cards. Amy welcomes your comments.

Thanks, Rachel. Even the seasoned pros at home need reminders like these!

–ME “Liz” Strauss
Work with Liz on your business!!

Is There Light at the End of the Tunnel for U.S. Businesses?

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According to a report released Oct. 5, from Automatic Data Processing Inc. (ADP), U.S. companies brought on more workers in September than the previous month, however the number was not enough to put a dent in the large unemployment numbers nationwide.

While the ADP report brought some encouraging news, two separate reports unveiled the same day noted that layoffs increased rather dramatically last month, while service companies are not hiring additional employees despite the sector’s relatively stable growth.

Looking back at the brighter report, ADP and Macroeconomic Advisers LLC report that private-sector employers added 91,000 positions in September, an increase of some 2,000 jobs from the previous month. The government’s official jobs report is slated to be released on Oct. 7.

Is Minimal Growth Better than None at All?

While the news is somewhat encouraging in that the country appears at this point to be dodging another recession, the recent report also demonstrates that growth is coming in very minimal numbers at best, providing us with weak growth at best.

While everyone is looking for any signs of growth, we shouldn’t be deceived by the numbers.

Much like when gas prices are inflated to high levels, drivers think they’re getting a deal when they pay less for gas, the bottom line being it is still $1 or $2 above what they paid the year before. Improvement, but much better is possible.

As for expanding on the down side, a report from Challenger, Gray & Christmas points out there were sharp increases in layoff announcements for September, with businesses planning to cut some 116,000 jobs, more than double the August report and the worst in more than two years. The biggest cuts came among the government and financial sectors.

What is Your Business Doing to Grow?

With the recent numbers showing a mixed bag, has your company been impacted either positively or negatively when it comes to job growth lately?

For many companies, especially smaller businesses, growth has been hard when you throw in the added costs for health care that many employers have been dealing with. While the government has tried to throw some incentives in the direction of small business owners, a fair number of them have either stood pat on hiring or even laid off where they felt it necessary.

If your small business is contemplating hiring, do you plan on? –

  • Waiting until after the holidays?
  • Waiting until you see better jobs numbers and additional incentives from Washington?
  • Waiting until next year’s presidential election is over?
  • Waiting to see if health care costs come down?

Lots of questions still remain for many small businesses, many of whom are playing the waiting game.

Photo credit: gaebler.com

Dave Thomas, who has authored a number of articles regarding business phone service writes extensively for www.business.com an online resource destination for businesses of all sizes to research, find, and compare the products and services they need to run their businesses.