Small Business Revitalization Blog

Every business owner knows how important it is to have a point of difference, but few businesses take this seriously and effectively establish a truly unique position in the minds and hearts of their customers.  And of those that do, few ever leverage those factors that make the business special and desirable to anywhere near the profit potential of the initial idea.  In my business coaching sessions, I often work with clients on these two issues, as they offer some of the best insurance around for creating a successful growing business which is hard for competitors to copy.

The trend for TRANSPARENCY is just one approach you can consider…
There are many industries where customers are highly aware of the risks of being ‘ripped off’ or taken for a ride. If your business is in one of these industries, you have a golden opportunity to deliver way more than your customer expects.

Find ways to make your business dealings transparent to the customer. The more honesty and integrity you can demonstrate, the more trust you can build and the more referrals you can receive and the more you will be able to charge. This works especially well in highly competitive industries or industries where the client requires a high level of trust in you to commence the relationship eg financial services or construction.

What would it take for your potential customers to trust you? What could a transparent business model look like in your industry?

Need some support in discovering your goldmine?  Contact Lisa Murray to arrange your free business coaching session. (No obligation, 30 minute introductory session for new clients only)

Got a comment?  Share your thoughts below...

This morning I woke up with a severe case of Mondayitis… and I can’t even blame the boss – I am the boss!!  Now this isn’t happening because I don’t have enough to do… or because I’m too tired… or because I’m bored… or because I haven’t had a break from work lately (my weekend was really fun and no I did not think about working for a minute!)

It’s just one of those moments when I’d just like to do nothing, because that’s what I feel like… Now doing nothing could be a perfect choice here… if I hadn’t felt like this on Friday too…and Thursday… and…! The problem now is that this little ‘slowdown’ is starting to look like a habit!  

I figure I’m not Robinson Crusoe in feeling like this, so here’s three ways I move myself out of the ‘I don’t feel like working’ zone:

1.    Start an interesting juicy project 
Motivation is always higher when you are working on something that feels rewarding.  I keep a list of projects that require creativity and focus and when I’m ‘stuck’ I start one of these projects.  The enthusiasm behind the initial idea often kickstarts me and then I’m off and running.  Once I’m into a productive mode I can easily give my attention to the work that needs doing that isn’t so interesting!

2.    Stimulate your senses
Stimulating your senses can provide much needed impetus. Sometimes I use upbeat music, sometimes I meditate and sometimes I listen to spoken CD’s such as ‘Joy of Business’ or ‘Ask and it is Given’ which remind me of my targets and help me cut through the clutter of too much thinking!  Getting outside and breathing deeply or exercising lightly is always good too.  It’s amazing how easily a good blast of oxygen will get me moving again!

3.    Procrastinate productively
Ok, I’ll admit it, even though I didn’t feel tired, what I really, really wanted to do was have a catnap in the sun…  so after wasting a few hours denying myself the pleasure, eventually I let myself go and snooze for a couple of hours… and guess what?  I really feel like working again now!  Sometimes what looks like procrastination or avoidance is the outlet for what our heart is really desiring… if you listen to you, you’ll find the solution that will allow you to get back into the productive zone!!

Make yourself a list of ways to get 'unstuck' - when the moment hits, you'll be glad you know what to do!  Would you like to share your getting unstuck ideas?  Comments welcome here...

		Have you ever noticed how many people talk about business as being hard work, boring or too difficult?  Have you ever wondered what else was possible?  Most people think business must be done in a ‘traditional’ way, where it is all very heavy and responsible.  What if you could function from a space where your business was joyful, creative and amazing – everyday?

When I started my businesses I only had two criteria:  that I could make insane amounts of money and that I could have a really good time doing things I love…  Yes, it is possible, and here is one of my favourite ideas for creating a phenomenal business that works for you.

Have you decided that you are the business?  When a small business first starts, it is common to see the business owner being everything to everybody and suffering under the strain and stress!  Often this is a result of being under-capitalized or thinking that you ‘should’ be in control of everything.  So, what if you were willing to allow support to arrive from anywhere?  What if you choose to focus on your strengths?  Would you be a lot more productive?

Is it time for you to get creative in the ways that you attract support for your business.  Consider:  delegating, outsourcing, contra arrangements, networking, mastermind groups, coaches, mentors and most of all generating opportunities by being willing to ask “What else is possible?”…  

Rewarding synergies are created when we are willing to ask for help.  Even the Lone Ranger had Tonto!  What would it take to make your business phenomenally joyful?

Many of the businesses struggling in the current economic environment are actually facing the same core issue:  their business model only works in a growth economy - that means it is looking a little beaten and broken right now.  An effective business model will work for your business in fair weather or foul... so what are the key issues you need to consider in developing a really profitable business model?

In essence your business model must be strategically designed so that your business can deliver you with lots of cash – regularly and easily!  As a business coach, I often observe that this part of the business is the most poorly defined for start-up businesses.  

If you don’t know who is going to give you money, for what, why they’ll hand over cash and how that will happen systematically, you don’t have a business, you have an interesting product or service idea, at best!  To build a sustainable business you must develop your ideas into a profitable business model!!!  

If your business model is based on one-off transactions you need to consider alternative models as the model most likely lacks sustainability.  To start with, you need to be able to offer a solution to the following:

• What do you offer and why would people choose your products/services over anyone else’s?
• What are your supply sources and how do they enable you to maximize your profit margins?
• Where will you find a ‘hungry market’ and how easily can they find you and buy from you?

Once you can answer these three questions you need to put your ideas into practice and work on fine-tuning your model so that it works everytime.  If the basic model is strong, then when the economy changes, in most cases, you will only need to tweak your tactics, rather than reinvent your business from scratch.

The businesses which will grow the most strongly in the next boom will be the ones which have created the strongest business model during the recession! 

What is required for your business to be financially successful?

For many small or micro businesses, it is tempting just to get a bit of marketing going and forget about some of the more tedious basics.
I know it sounds boring, but a little bit of attention to some legal basics at the beginning can sure save you a lot of hassles and stress later on…Here's my top 3 essentials!

1. Make your business work for you financially. Get a good accountant and ensure that you set up a business structure that works for you on multiple levels (taxation included!).
2. Register your business name, ensure your business name and logo are protected by trademarks (national or international) and register any domain names that relate to your business.  You want to own the visual and naming space that your business occupies.  Don’t run the risk of someone liking your name and ‘borrowing’ it for their own purposes!
3. Acquire the necessary business insurances e.g. public liability, professional indemnity etc.  Every industry is different in its requirements, so obtain the appropriate advice.

You don't have to make it difficult...use the government resources available in your state to get started!

Oooh yes, we're talking about the ‘S’ word today!  How many business people cringe when they think about selling?  What if you generated your business in really creative, fun ways?  What if you were so enthusiastic about your products and services that it just felt really great to sell them?  

What if sales were a game where your only target was to have fun with your clients and share with them how joyful business can be?  Would your business look and feel completely different to just about every other business out there?  Would that energy be enticing and engaging for the potential clients that you meet?
Here's three out of the box sales strategies to consider:

Your business wants to be a huge success!  Are you willing for people to give you money and opportunities and for this to be effortless for you?  Or does it have to be hard work and struggle street?  What if you were willing to ask your business everyday:  “What can I do today that will expand this business the most?”  And then to go with the flow of whatever feels good… I have had phenomenal opportunities arrive on my doorstep using this approach!

What if lead generation was easy and you never had to cold call again?  I have over 100 other lead generation tactics that I teach my business coaching clients so that they don’t have to do lead generation the hard way!  What if you could use your strengths to generate leads for your business?  Wouldn’t that be a whole lot more fun for everyone?  Find lead generation tactics that work for you!

Desperation stinks!  If a salesperson is desperate for a sale you can smell it miles away… (of course, if you’re buying, that’s definitely the time to negotiate hard!!)  Whether you have 5 cents or $500,000 in your bank account, you need to be able to sell from a space of ease and joy, rather than having a vested interest in the outcome.  What if there were zillions of opportunities available?  Have a close look at how Richard Branson does business.  He actually doesn’t care about the outcome – his joy is in playing with the businesses and discovering what’s possible!

Go have some fun with your clients today!  What else can you add to their business or life?

Imagine this… you are new in town and attending a networking event.  There are plenty of service providers there and you are looking for a day spa you can visit regularly. You meet a hairdresser/beautician who wears no makeup, promotes tanning but is pale as snow and has ratty looking hair…would you use them?

Most of you are already laughing – you are probably thinking ‘stupid question’!  It sounds stupid, but it is a reality for many service providers – who they are does not reflect the products or services they are promoting…  If you are going to promote yourself as a success coach then you must be vibrant and full of life first.  If you are a strategist, then demonstrate your expertise in your conversations.  If you are an image consultant then lose the bright green eyeshadow and frumpy clothes!

When your personal brand is incongruent with your stated business image, your potential clients experience confusion.  They don’t know what to believe… and research tells us that people believe what they see before they believe what you tell them.  Everything about your personal brand needs to reflect your business brand if you are the one representing your business in public!!

As a small business coach, I encourage my clients to look at their personal brand Here’s 5 (hard) questions to ask – if you want an honest opinion, ask for feedback from others who are willing to tell you what they really see:

1.    Does my branding (logo, business cards etc) reflect my product and services accurately?
2.    Am I dressed and groomed appropriately to represent my business?
3.    Do my written communications demonstrate my expertise?
4.    If I met me for the first time, would I have confidence in me?
5.    How else can I add value to my brand to make it even more distinctive and personal?

Reinventing your brand can reinvent your business.  The devil is definitely in the detail!!

		As a business coach, I get to talk to lots of business owners about the nitty-gritty of their business success.  Lately I’ve been observing the ‘I won’t’ phenomenom killing off small businesses in droves.   What happens is that the business owner is too tired and worn out, too bored or too scared to take the next set of steps that will really move the business forward.  In some cases, they have made so many decisions and put so many limitations around how the business runs, that there is no room for creativity, innovation or taking any of the risks which could bring in a swathe of new business. Take a pen and paper and write down the one thing you would most like to achieve in your business over the next three months.  Now write a list of everything that is stopping you from achieving this.  When you look at that list of limitations, how many of them are self-imposed?  How many of them could be solved by talking to a coach or mentor or getting in some additional expertise?  How many of them can be solved by taking a different point of view?   Take steps to reduce or dissolve every possible limitation on your list.  Does your target look much more achievable now? When we outgrow our limitations, we can expand our businesses in ways which were unimaginable just a short time ago.   Wherever you are unwilling to do or change something, you have set (sometimes unconscious) limitations upon yourself and your business… I recently undertook this exercise and it opened up a whole new perspective on my business!  What can it do for yours?  (And if you didn’t do the exercise, it pays to remember that denial is disempowering…the more willing you are to perceive a new perspective, the more successful your business will be!)

Recently I registered a couple of .com.au domain names.  Not long after, I received a very official looking letter from www.domainregister.com.au asking me to pay for these names (again!).  A closer look revealed that these were the .com versions of the sites I had recently registered - and they were offering me the domain names for just $249 each!!  

A quick check on www.godaddy.com revealed that I could get them for $9.99 USD each - a saving of over $450!!!  Of course there was also the enticement of a "free" Ipod Shuffle to take your attention away from the basic offer... Remember that there is generally no such thing as a free lunch... my friends at Domain Register were still making a rather tidy profit from those less vigilant with their accounts!!

The other part of this equation to consider was did I need the .com domains - clearly not as I did not choose to register these first time around...  It always pays to be 'buyer beware' when you receive invoices.  Do check what you are paying for carefully.  It would have been easy to have let that one slip through...and that is exactly what companies like this are hoping for...

		As a recovering workaholic, whenever the pressure is on it is always tempting for me just to work harder, longer and stronger!  The problem with this is that the more I work, the more likely it is I’ll end up burnt out and broken down (again)!  Being effortlessly productive is a much better option for both your stress levels and your creative problem solving capacity. Here’s a few ways to achieve this zone whenever you need to…

Lao Tse, an ancient Chinese philosopher practiced Wu Wei – the art of ‘action without action’.  Sounds confusing, is simple!  The idea of this practice is to get the conscious mind out of the way, so that your creative source can work its magic!

When you put your body into the ‘exercise high’ state, you are effectively practicing Wu Wei! Many business people don’t find the time for exercise because they don’t understand the benefits.  Anytime I am ‘stuck’ or can’t think clearly, I take the dog for a walk.  Inevitably, the creativity will flow and I will solve my challenge with ease.  The useful thoughts seem to just rise to the top!

Creative daydreaming is another way to practice Wu Wei.  A little hammock time, or time spent just listening to the bamboo rustling in the breeze can free up your mind to create results effortlessly.  Listening to peaceful music is another great way to free up your mind chatter and let the good stuff out!

If you are into nanna naps or lucid dreaming, you can also harness your creativity by allowing the sleep state to work on your challenge whilst you are resting – just set your intention!  Take note of the insights and ideas which arise immediately upon waking – these are the keys to ‘doing without doing’!

When you are engaged in effortless action, you are ‘in the zone’ or in the flow state.  This is where information, opportunities and possibilities arrive out of nowhere, in ways you couldn’t possibly imagine if you were trying hard.  I have a list of at least 50 ‘actions’ which can put me into this precious creative zone – make your own list - the more easily you can achieve this state, the less stressed and the more productive you will be!!

Lisa Murray - REVIVE Business Coaching