Canadian Small Business Women

Connection, Synergy, Community

A Guide to Creating a Burnout-Proof Lifestyle for Entrepreneurs

 

We are all super human! We leverage technology, people, resources and time to design, create and amass wealth. We conquer our goals and live our dreams. But do we really? If we are truly super human why are we burning out? Over the last decade, burnout among employees and yes, entrepreneurs too, have been on the rise. In the Forbes article ‘How Can We Stop Entrepreneurs From Burning Out?’, Maiko Schaffrath highlights that 72% of entrepreneurs report mental health concerns and founders are 30% more likely to experience depression than another member of the public. Are you still aiming to be super human? It is becoming increasingly more important for entrepreneurs to create a lifestyle that allows them to create impact in all areas of their lives…without burnout.

Alison’s Story

Alison pre-dates over-working to early 2008.  She was at the tipping point of her career at the height of the recession.  She was working as a retail manager and her team was cut by 30%.  At that time, she felt so blessed to have a job, that she started making up for her absent team.  She did her job, plus that of a visual merchandiser, human resources, inventory control and cashier.  She was committed to having her store continue to perform out of fear of losing her job. Before she knew it, 55-hour work weeks became the norm.   As her career grew the more she worked, choosing her career over her personal life, going to the gym and even close relationships.

Now fast forward to 2019, she was so used to working 55+ hours a week, one day at her desk she recounts feeling a little “off”. She felt really dizzy, but kept pushing, when all the signs said stop. The truth was she didn’t know how to stop even if she wanted to.  Shortly after, she woke up on the floor, with only the memory of getting a glass of water.  She was rushed to the emergency room, with dangerously low hemoglobin levels. Her female physician shared with her that her experience was not uncommon. In fact it was a common trait that she recognized among women.  That life changing experience led Alison to truly understand that sacrificing her health was just not worth it.  Since then she started making conscious lifestyle changes to put herself first. She now has a hard stop at the end of the day, doesn’t work weekends unless it is necessary (only a few things fall in that category), and don’t check email after 6pm. The new Alison now says, “I make time for me; I still love my job and it is very important to me, but not as much as my health.”

As an entrepreneur myself, I am no stranger to burnout. I am a wife, mother and business owner. Those are three full time jobs that despite the best attempt at balance, it all fell apart. I was working 16+ hour days with very little sleep, a racing mind and very little time for family, friends and non-business related activities. Selfcare? What was that? For several months I had gone without even a quiet hot chocolate moment. Some days I felt like I was crushing it. Other days, it was crushing me. Then it did! I was burnt out. One Friday afternoon my body put up an unstoppable and undeniable sign of protest and I was wiped out for three days. I thought I was superwoman, with all my workflows and technological efficiencies. I had a system for everything…except preventing burnout.

Why do so many entrepreneurs, especially female entrepreneurs burn out? I believe it is a combination of not being in tune with our bodies and our inability to create a lifestyle with an effective work-life blend. When you are able to listen to your body and understand when it reaches thresholds, you can start creating a lifestyle that incorporates your body’s needs as well as those of your business.

Here are 3 of my most recommended tips to entrepreneurs to create a burnout-free lifestyle:

  1. Create Blend vs Balance

 

Photo: www.pexel.com

All your life you have probably heard about work-life balance. The truth is you cannot truly separate the two to create separate entities to achieve balance. They are all blended together. As such, creating a blend is much more realistic, achievable and effective. Instead of trying to work 8 hours on your business and spend 8 hours with your family, look for opportunities to create a blend that helps you achieve all your goals. For example, if you are completing client follow ups, you may opt to do that while your child is taking a nap so you can be available for story or movie time when they wake up. Or perhaps you will create a work calendar and schedule that you share with you partner with a mix of morning and evening availability to meet your client’s needs, but also make time for a couples breakfast once each week.

Creating a blended lifestyle starts with identifying what matters most and creating ways to infuse them into your schedule in a practical and effective way. What step can you take today to start creating your work-life blend?

  1. Signs to Delegate vs Danger

Photo: www.pexel.com

As an entrepreneur it can be hard to delegate. And that may be true for a variety of reasons. Perhaps you are not able to make the time to train someone, lack of resources or perhaps no one will quite do it the way you need it done. While no one will care for your business the way you do, as your business grows and demands increase, without delegation, you get closer and closer to the danger zone. Delegation does not mean abandonment. Delegation can start with small steps or tasks. For example, you could consider delegating your social media posts and automations, delegating the building of workflows and software processes that you are not an expert in or opting to partner with aligned affiliates to increase lead generation versus marathon networking.

When you are able to delegate you are truly shifting from a business manager to a business owner. You are allowing yourself to take a step back, breathe, focus on the big picture and hold your delegates accountable. What tasks can you delegate today to avoid approaching the danger-zone of burnout?

  1. Focus on Health vs Wealth

Photo: www.pexel.com

Don’t be like the famous artistes whose music and memorabilia became million dollar items after they die. While your heirs may benefit, nothing will replace your presence. Buddha’s great words reminds us “To keep the body in good health is a duty… otherwise we shall not be able to keep our mind strong and clear.” As entrepreneurs creating a lifestyle that allows us to focus, be present and include self-care is critical to business continuity and to service our clients. We are reminded by Reba McEntire that “All the money in the world can’t buy you back good health.” Unlike our wealth that we can potentially recover, our health once gone will never return to where it was. In fact, the healthier we are the more vibrant, productive, efficient and yes, wealthier we can become.

To create wealth, you need your health. What changes can you make today to increase your focus on your health?

The entrepreneur lifestyle is often glorified with pictures of people on a beach, working from luxurious offices and enjoying a vibrant and blissful social life. No glimmer or hint of burnout anywhere. The truth of entrepreneurship doesn’t have to be far from that, depending on the ideal lifestyle you envision and create for yourself. You can start by designing a lifestyle that creates blend versus balance, prioritizes delegation before reaching your danger zone and focuses on maintaining your health to create wealth.

 

 

Aldeen Simmonds-Thorpe featuring Alison Hemmings

Chief HR Transformation Officer and Coach at Aldeen Simmonds-Thorpe Consulting

Aldeen Simmonds-Thorpe is a HR Transformation Strategist, Speaker and Coach helping professionals and businesses to navigate and solve complex business and people problems enabling them to adapt, compete and thrive.  She is a trusted Advisor and Coach to entrepreneurs and business owners helping them build sustainable businesses through community.

Alison Hemmings – Hemmings Consulting

Alison Hemmings is a heart-centered Career Coach, former Headhunter and founder of the ‘Happy Work Project’ helping professionals find and land their ideal jobs while creating a work-life blend that creates true happiness.

LinkedIn (Alison Hemmings): https://www.linkedin.com/in/alisonhemmings/

LinkedIn: https://www.linkedin.com/in/aldeen-simmonds-thorpe/

Twitter: https://twitter.com/aldeen_sim

Website: https://www.aldeenst.com/

Why Start-ups Should NOT focus on Cash Flows

 

The first thing I usually hear when a new client comes on board, especially a new client in the start-up phase, is “I want to work on my cash flow statement”. And while I am happy to help create one, there is an inherent road block in a start-up focusing on cash flow – you have no idea where your sales are coming from!

For some reason cash flow seems to be the creditor favourite for lending. In lieu of historical financial statements for start-ups, they’ll often ask for cash flow projections and future sales growth etc. before approving any lending applications. And then you are held accountable to meet those projections because that was the basis of the loan.

A cash flow projection is supposed to help you manage when money is coming in and when money is going out; but this assumes that you have a consistent stream of money in/out to be able to make this work! If you’re a start-up then you don’t have a steady sales stream yet. Not to mention, you’re probably still experimenting with your costs so you’re expenses are fluctuating as you play around with things. This means you can project a sales of $10,000 and expenses of $8000 for September… but you don’t have enough historical data to really see if this is a reasonable projection. And now you’re being held accountable to something that maybe should not have been set in the first place.

Instead, a break-even analysis is a much more useful tool for entrepreneurs to use in the start-up phase. What this analysis shows is how much sales you would need to just cover your fixed costs. This, for most entrepreneurs, is the goal in the beginning – just to break even and maybe show a little profit. To calculate this you take your average sales price divided by your fixed costs. This will give you the number of sales you need to cover your costs.

This, for a start-up, provides a more reasonable goal to work towards. Once you’re consistently covering your costs you can start focusing on bigger sales targets. When you have consistent monthly revenues and expenses, then a cash flow projection can be made!

 

 

“Behind Every Great Business is a Great Accountant”

For more information on how to keep your business tax efficient, or to get a consultation on whether you are making all the right tax choices for your business, contact Dharna CPA. www.dharnacpa.ca. Info@dharnacpa.ca

 

Business Use of Home Expenses

Note: This information differs slightly for employees who are required/allowed to work from home.

Many entrepreneurs love the idea of starting a business from home because now they get to claim the home expenses – or rather a portion of them – as a business expense! BUT entrepreneurs beware there are conditions to be met!

You need to meet ONE of the following conditions:

  1. It needs to be you principal place of business OR
  2. You use the space only to earn business income AND you use it regularly and on an ongoing basis to meet your customers, clients or patients.

So what does that mean?

If you always meet clients at a coffee shop, restaurants or their place of business, and never in your home, it can be a challenge to justify why you need to claim a home office.  Furthermore, if you are also expensing a secondary office space (meeting rooms, rented office spaces) justifying the need for a home office becomes even harder. Needing a place to keep your computer and files often is not strong enough.  However taking calls, doing client work, and using that room for other functions relating to contracting business can be a better justification. Note there is also an implied expectation of a separate room or dedicated work area; using the kitchen table does not cut it.

Once you have determined that your home office you can claim a percent of the following expenses:

  • Heat
  • Electricity
  • Insurance
  • Maintenance
  • Mortgage INTEREST
  • Property taxes
  • Other expenses (such as water)

It is important to also mention that the amount you deduct cannot be more than your net income; so the expenses relating to the home office cannot create a business loss. So we recommend calculating your net income (Revenue less expenses) for everything else first, then seeing if home expenses make the cut. These expenses can be carried forward with certain conditions.

When you sell your house, there will be what’s called a recapture if you have deducted depreciation on the value of the house so our recommendations is not to do any depreciation relating to your house!

 

 

 

“Behind Every Great Business is a Great Accountant”

For more information on how to keep your business tax efficient, or to get a consultation on whether you are making all the right tax choices for your business, contact Dharna CPA. www.dharnacpa.ca. Info@dharnacpa.ca

When the world is your oyster, don’t use the wrong fork: 5 mistakes entrepreneurs make when going global

Globalization has been the buzzword in the business community for many years. With technology making our world a smaller place, businesses big and small seem eager to be a part of the “going global” trend. But just what does expanding internationally mean and how much of an investment does it require? Many entrepreneurs are unaware of what an international expansion entails, which is the reason why many of them aren’t successful.

 

Here are five mistakes entrepreneurs make when going global:

 

  1. Not spending enough time exploring potential markets

The decision to expand your business internationally is a huge step. Many entrepreneurs seem to get too caught up in the allure of going global that they often forget to evaluate the compatibility of their specific business in their market of choice. It’s important to allow adequate time for research on potential markets.  Spend time exploring and getting to know potential markets that fit your specific business. Expanding internationally is not about which countries you’d like to personally visit; it’s about where your business can grow and thrive.

  1. Underestimating costs and break-even time

Expansions are expensive! Don’t be fooled by the common misconception that outsourcing labour drastically lowers your operating costs – this may be true in the long run but breaking in to a new market will significantly increase your costs in the first few years. Adequate research about your market of choice and what kind of fees, licenses and legal documents are required is essentials for a successful expansion. Expansions take time to be profitable so it’s best to be conservative when forecasting break-even time, don’t expect and instant return on your investment.

  1. Discounting the importance of cultural differences

Sadly soft skills such as business etiquette are often overlooked when it comes to international expansions; however they play a significant role in the success of your business. In order to enter a new international market you need to be able to build contacts and make the right connections. Networking internationally can be tricky especially when customs and traditions vary among cultures. It’s important to fully understand the differences between your own culture and the culture in your market of choice. For example is the country you’re looking to expand in to a collectivist or individualist culture – do they focus on the Me or on the We?  If you can’t form a rapport and network effectively with people from different cultures; expanding you business internationally will be a challenge.

  1. A lack of product flexibility

Sometimes you may need to change your product to better suit a new market. Entrepreneurs need to be aware that the look of their product will need to evolve to better appeal to its potential buyers. A great example of this is Coca Cola – everyone the world over knows about the soft drink, but a bottle of Coke doesn’t look the same in every country – it’s evolved to suit the needs of new markets. In North America we have large 2L bottles of Coke but some countries only sell 1.5L bottles of Coke- the reason? Simple – their fridges are smaller. If you want to be successful internationally you need to be able to adapt your product to suit your new market.

  1. Not changing your marketing strategy

What works well in one country may not work well in another, and this is especially true for marketing strategies. Some countries respond very well to social media marketing, while others respond better to direct selling. Effective marketing is extremely important when introducing a new product. Learn from local players and adapt your marketing strategy to suit the new market. Don’t get stuck in a cookie cutter strategy be open to new ideas and try a few different strategies until you find the one that works best for your particular product.

Praveeni Perera is an experienced entrepreneur having co-founded a training and consulting company catering to clients around the world. Her area of expertise is international expansions. You can connect with her via Twitter or LinkedIn

 

Got Discipline?

I’ve decided that my word for 2017 is Discipline. It’s funny that once I chose the word, I kept hearing people talking about what an important role discipline plays in successfully achieving our goals in videos and blog posts. I decided to view this as a reinforcement of the need to be more disciplined in 2017.

A couple of months ago I read the book The Miracle Morning by Hal Elrod and it reminded me of the importance of starting our day off on the right foot. The book reminds us of one of the 7 Habits of Highly Effective People:  Start with the end in mind. If we want to have a successful day, we need to start with focus, intention setting and a clear mind!

I know that as entrepreneurs, we often think we don’t have the time for morning rituals beyond getting up, taking care of hygiene and starting our day. I’ve heard it said the less time you think you have for meditation, the more of it you need. I think it’s the same for all of the routines mentioned in The Miracle Morning.

Having a morning routine doesn’t require 3 hours of your time. You get to choose how much or how little time you give to each part of the routine. When it comes to establishing new habits, it’s about consistency more than anything else. It’s not about whether you do 3 minutes of meditation or 30 minutes, the key is to start doing it! It’s the same for journaling, exercise, visualization and the other habits you know will help you start your day off on the right foot.

Most of us know what we need to do more of and less of in order to truly focus on our goals and make them happen. Unfortunately a lot of us are also equipped with a long list of excuses for why we haven’t started to do the things we need to do and stop doing the things that are holding us back. If this is part of your struggle, then you need to remind yourself of why achieving your goals is important to you. Is what your life will be like when you accomplish your goals worth enough to you to make the changes necessary?

Try not to think of discipline as restrictive or a chore. Think of it as one of the magical elements that helps us reach our goals with less drama and more ease! Where in your life or business will you be exercising more discipline?

Sandra Dawes is a certified life coach specializing in helping women who feel unfulfilled with their 9-5 follow their dreams and pursue their passions. She holds an Honours BA, an MBA as well as a certificate in Dispute Resolution. She has completed her first book,Embrace Your Destiny: 12 Steps to Living the Life You Deserve!

Connect:

www.embraceyourdestiny.ca

www.facebook.com/embraceyourdestiny

www.facebook.com/embraceyourdestinythebook

www.twitter.com/sandradawes

Life Lessons

Sheralyn

I learned a valuable lesson recently when life got in the way of business.  My mother had a saying when we were kids that went like this: “Never put off til tomorrow what you can get done today.” Seems I had been putting off a few to many things recently and as a result, when hit with an unexpected two day, all consuming event, I was left with nothing in reserve to help keep my business going, even during such a short absence. It turns out Mother was right after all.

As small business entrepreneurs and/or solopreneurs we tend to do a huge chunk (if not all!) of the work associated with our business by ourselves.  We try to be all things to all people: the bookkeeper, the sales team, the designer, the writer etc. This can result in things getting missed, particularly if they are not scheduled well ahead of time. Social Media posts are easy to book ahead but scheduling multiple deadlines and juggling several important deliverables requires skillful management of your calendar. Letting even one thing slide or thinking, “I can get this done tomorrow” can have a catastrophic effect if life gets in the way and makes other plans for you!

Don’t play catch-up. Use a time-management or even a project-management tool to stay on top of work demands and ahead of the game. That way, when a curveball comes your way, you’re prepared. By the way, this record-breaking “shortest post ever,” on a topic that has nothing to do with communications (considered my specialty) has been brought to you by “The Procrastinator”- me!

As Owner and Principal partner of “Writing Right For You” Sheralyn is a Communications Strategist – working together with entrepreneurs to maximize profit through effective use of the written word. Looking for web content that works, blog articles that engage or communications strategies that help you get noticed?  Contact Sheralyn today. Sheralyn is also the mother of two children now entering the “terrible and terrific teens” and spends her free time volunteering for several non-profit organizations.

Sheralyn Roman B.A., B.Ed.

Writing Right For You

Communications Strategies that help you GET TO THE POINT!

416-420-9415 Cell/Business

writingrightforyou@gmail.com

3 Reasons Why Passion is Vital to Business Success

sandra

There are so many factors that contribute to our success in business or in any part of our lives really. The Internet is full of articles about the success factors for entrepreneurs, so why not add one more to the list? I believe that we have to love what we do. While there are always things we don’t like to do in our day-to-day tasks, there has to be a burning passion that drives us. Here are three reasons why I think that being passionate about your business is vital to its success:

  1. It fuels you through challenges. We hear so much about “knowing your why” and there’s a reason. You have to be aware of what drives you, what you’re working towards and why it’s important to you. When you don’t have clarity on these things, challenges and obstacles can really become a major distraction and take you off course. When you’re really passionate about what you do, quitting isn’t an option. The saying that “where there’s a will, there’s a way” is the truth. When you’re committed to your goals, the universe conspires with you to make them a reality.

 

  1. It takes selling out the sales process. Cold-calling does not excite me. I’m sure that there are lots of people who have no problem picking up the phone and making those calls, I’m not one of them. The exception to this is when I’m working on a project that I’m excited about where making calls to complete strangers is the only way it’s going to succeed. When we’re passionate about what we do, the people on the other end of the phone can hear it and they’ll want to be a part of it (some of them anyway). If you’re selling something that you don’t believe in, you’re going to have a difficult time.
  2. Life is good when you’re doing what you love! When you’re living on purpose and doing what you love, things start to flow much easier. Things that once seemed like the end of the world are no longer a big deal. Challenges and obstacles are seen as tests to our commitment rather than cruel punishment from universe. You know why you do what you do and it makes your hear sing. There are so many people out there that are living unfulfilled lives. They have dreams that they think can never be a reality. The fact that you have the opportunity to do what you love is a blessing, and you know it.

Passion is what keeps us going as entrepreneurs. It’s the fuel that drives us and our business. If you’re not passionate about what you do, you need to ask yourself why you’re doing it. If passion was what started it, then it’s just a matter of reconnecting with it. If you were never passionate about what you do, it’s time to figure out how to add passion to what you do or do something that you are really fired up about. If we want meaningful success in life, passion is a must-have.

Sandra Dawes is a certified life coach specializing in helping women who feel unfulfilled with their 9-5 follow their dreams and pursue their passions. She holds an Honours BA, an MBA as well as a certificate in Dispute Resolution.She has completed her first book,Embrace Your Destiny: 12 Steps to Living the Life You Deserve!

Connect:

www.embraceyourdestiny.ca

www.facebook.com/embraceyourdestiny

www.facebook.com/embraceyourdestinythebook

www.twitter.com/sandradawes

Five Essentials for Successful Sales & Marketing Initiatives

Praveeni

The business world is governed by transactions. Everyone is either selling or buying a product or service. As entrepreneurs we’re constantly tying to grow our businesses by increasing our clientele. We tend to spend a lot of time and money on sales and marketing but do we really know what we’re doing and just how much do we know about marketing anyway? Here are five things you need to know in order to run successful sales and marketing initiatives :

  1. Your product

Just what are you selling? Many entrepreneurs think they have a great idea, whether it be in the form of a tangible product like clothing or furniture or a service such as printing, advertising or consulting. In order to sell your business effectively you need to know your product inside out – what can it do, what are its limitations, is it customizable and how much are you willing to change it to suit your potential client.

  1. Your Target Market

Who can benefit from your product? Knowing your customer is as essential to running a successful business as knowing your product. Many times entrepreneurs try to sell to everyone all at once – this is a huge mistake.  Sales initiatives work when you have a clearly defined market segment that you want to target. In other words your product may not be appropriate for all segments of the market. A streamlined, focused sales strategy is always better than a blanket strategy.

  1. Your Competition

As an entrepreneur you need to be aware that yours may not be the only product of its kind out there. Never assume your product is the best. It’s always good to know what you’re up against. The biggest mistake entrepreneurs make is ignoring the competition; mainly because they’re threatened by it. A true sales person always keeps abreast of the competition and seeks to better their product. Instead of criticizing other products, seek to highlight the benefits and advantages of your own product.

  1. The Stats

As an entrepreneur you need to be aware of the statistics surrounding your product or service. A few key statistics you must know are the demand for your product, market size and your own market capitalization. Statistics may sound boring but they are useful when you’re defending your product against skeptical buyers.

  1. Your own strengths and weaknesses

Knowing yourself is extremely important as an entrepreneur. It’s essential to know what you can and cannot do, what you’re good at  and what you need to improve on. Being aware of your strengths and weaknesses as a sales person will in turn help you set reasonable and attainable sales targets. Achieving these targets will keep you motivated to set higher goals.

Praveeni Perera is the CEO and co-founder of Professional Edge Consulting a corporate training company based in Ottawa offering training and coaching services to clients around the world.  She can be reached via Website, Twitter, Facebook or her Blog.

A Simple Reminder.

 Aviary Photo_130605261112039905

The hardest thing for us female entrepreneurs is having to come to terms with the notion that work-life balance is a figment of our imagination. Like a majestic flying unicorn – although fun to imagine, it really doesn’t do much for us.

As entrepreneurs, we shouldn’t be ashamed to say how truly ‘unbalanced’ life is. Sugar-coating work/life on social media, and in conversation with others, can only do us so much good. After a while, it all just catches up with you.

This is why the theory of ‘Leaning In’ – proposed by Facebook’s COO Sheryl Sandberg, which suggests women should lean into leadership roles in order to create greater structural organizational changes to positively impact and improve work-life balance – makes working gals like us shake our heads a little bit. Not because Sandberg’s theory isn’t valuable – but because it’s a theory, and theories don’t always hold up when applied to real-life situations with varying degrees of socio-economic factors.

Real-life disequilibrium is:

  • Fluctuating eating schedules tied to your latest project milestones.
  • Having virtually non-existent sleeping routines and habits.
  • Social outings that are veiled in euphoric desperation.

Add a couple of children / spouses / relatives into the mix, and work-life balance is officially out the window.

As all-round doers, it easy for us to internalize frustration, anxiety, sadness and believe we are not ‘measuring up’. This is why we’re writing you this simple reminder: Do things your way.

Make your own work-life rules and stand by them when family and friends make unwanted suggestions as to how you ‘should’ live your life (whether at work or at home). Be kind with other female entrepreneurs – we might not all face the same struggles and/or barriers to entry, however, we are all willing to incur significant risks, possible rewards and daily setbacks in order for our businesses to stay afloat. That in itself deserves acknowledgement, respect and admiration.

But most importantly, be compassionate with yourself. After all, you’re doing the best you can with the circumstances presented before you – don’t let anyone tell you otherwise. When you acknowledge how far you have come and take pride in your business, you will see that by not succumbing to the pressures of ‘having it all’, you will come out of this process standing tall and proud.

Written by Marisol and Silvia Fornoni, Founders of JDC.

JDC supports socially conscious organizations with finding sustainable ways to tell their stories using visual design, engaging content and non-traditional media. We help you with anything from organizing fundraising campaigns to web design and social media management.

http://www.joint-development.com

Facebook, Twitter, Instagram

Map Your Content Marketing against the Sales Funnel

selfy photo

A real eye-opener that I recently learned is that the marketing objectives for a product or service has a companion, parallel series of steps or objectives called The Buying Process-or at least we hope it does!  If marketing is to be effective, we have to design it to speak to our customers at each stage in their buying process, or to look at it another way, to speak to them at each place in the sales funnel.

For example, the standard marketing objectives for your product or service might be:

  • Domain Leadership
  • Position the product or service in the vertical or market
  • Make the value proposition clear, differentiate on the basis of value
  • Sales Promotion
  • Post-purchase customer service, retention

The parallel buying process might be:

  • Buyer recognises they have a need or problem
  • Buyer searches for information about their problem
  • Buyer evaluates the alternatives to solve the problem
  • Buyer makes a purchase decision
  • Buyer evaluates their experience and satisfaction post-purchase

If you were to map these processes alongside a typical sales funnel, it would look like:

SalesMarketingProcesses

In traditional models, marketing would do their thing and at some point, sales would take over.  In digital, marketing and sales activities come together and merge in the areas of social selling and content marketing.  What tends to happen is that buyers complete almost 70% of their buying process before companies even know they exist.  Customers do all of their problem recognition, and information search, and evaluation, and often make and transact purchase decisions, online.  So the most critical thing you can do as a business is make sure that you are there, online, with relevant helpful content, at every stage of that buying process.

In other words, when your buyer recognises they have a problem, you want them to be exposed to your Domain Leadership marketing messages.  Often, your domain leadership marketing messages, if they are well-crafted, can in fact be the trigger for the buyer to recognise their problem in the first place!

When your buyer is searching for information, you want them to find your positioning messages.  When your buyer is evaluating alternatives, you want your value proposition messaging to be what they are looking at.  And so on.

The only way to develop the right content marketing for your buyer – to be in the right place at the right time – is to know your target customer really, really well.  By knowing your target customer’s pain points, needs, and the questions they ask when they have a problem, sales becomes a matter of letting them find out if there’s a good match.

What does this look like in practice?

The first step is to create a persona of your ideal client or buyer, and make sure to include as many questions as you can based on what you get asked at trade shows, in client meetings, on the phone, etc.  The best way to really get to know your target customers is to conduct customer interviews: if you’re unsure about their needs, or about the potential value in your solution, ask them!

Then, think about what kind of content are they looking for at each stage of their buying process.  What can you teach them to help them understand if they are the right match for your products or services, and if you are the right match for their needs?  Different types of content work to address different phases of the buying cycle as well.  Map these questions, and these content types, onto the buying and marketing process.

For example, let’s say you are a small business law firm.  Your unique offering is that you really understand green tech and the pain points of the small business person in this complex area building a green tech business with all of it’s unique regulatory policies and practices.

Your ideal client is a factory owner who is converting what was formerly a tool and dye manufacturing plant into a green tech business, manufacturing wind farm parts.  This client lives and works in a small town outside Sarnia, and they don’t really understand the programs and support available for green tech: they just know that to save jobs in their community and protect their own livelihood, they need to capitalize on their physical facilities and equipment to manufacture something new.  They are looking for plain-language legal and business development support, someone who will be a partner in building the business and who can help with some of the complexities of policy and government investment in this area.  Let’s map this persona and her questions against the chart we created:

Full-Chart-Example

Try mapping your ideal customer’s questions and needs against this standard marketing and sales process, along with the content type suggestions.  You’ll be surprised at how easy it is to come up with relevant, targeted content so that you can make sure your ideal customer is finding out about you during that 70% of their buying process when you’re not yet aware of them!

For more resources and information on Content Strategy and to download a detailed description of what content strategy entails, go to analyticalengine.ca/resources or download a Content Strategy Info graphic at http://bit.ly/1qY9tYp.

Christine McGlade is a Business Analyst, Content Strategist, and Usability Consultant.  With over 25 years experience in the media business, Christine helps small business, social enterprise, and Not for Profits how to leverage the power of the Internet to grow their business.  Learn more about Christine at analyticalengine.ca

How to Focus on the ‘Right’ Ideas in Your Business

Tamara high res 1

Being a business owner, I suspect you have probably had more than a few ideas for your business. It could be thoughts of how to increase sales, new products or services or even who to partner with. The problem can be when we have too many ideas or don’t know what to focus on, it can become hard to execute on any of them. The following article outlines how to identify what ideas should be your focus, in order to positively impact growth and personal satisfaction within your business.

  1. Notice Patterns

Even if you never wrote any of your ideas down (which I often suggest), likely you will start to notice conceptual repeating patterns if you are aware of this focusing tactic. Patterns in your ideas are anything that has a common thread that ties it all together. For example, if you were a local organization but kept getting ideas about translating your copy, market opportunities overseas and manufacturing prices abroad, this is a pattern. The idea to focus on would be international opportunities. Once you have identified how all of those little ideas fit under the bigger umbrella – it will become a lot easier to focus your energy and attention of where you want to go.

  1. Personal Response

When someone asks you ‘what you do’ at a dinner party, are you excitedly telling them about the core values of your company? Or about the best new piece of software you are using? Or would you rather tell hear about the book that they published? The reason I suggest noticing your personal response is because focusing on what you are intrinsically interested in will hold your attention longer and impact your overall offering far more than doing something just because you ‘should’.  If you find yourself more interested in someone else’s ventures, that is also your queue to see how you can bring the basic concept into your business and make it unique to you.

  1. Feedback

When I say ‘feedback’ – I am not suggesting you do whatever someone else tells you to do. The trick here is to notice what parts of your business your customers and clients comment on as being beneficial to them, and what resonates with you the most. You may find the perfect formula by combining an objective view to your personal opinions. This is an indicator to focus.

  1. Strengths

Ideas that align with your personal strengths are a telltale sign that you may be on the right track. This is not to say that you can’t be a tech mogul if you don’t know how to use drop box…but, you would have to have strengths in delegation (so not to waste your time on things that are in someone else’s zone of genius). More so I suggest focusing on ideas that will allow you to use your experience as a person and as a business owner as well as skills that come naturally to you. Personally, I focused on design aspects of my business because I enjoyed it the most and also had a lifetime of experience with different creative mediums. A weakness of mine is projecting the ‘numbers’ so any ideas that I get about increasing profit margins (for example); I consult with someone who is stronger in that area. This is when to focus on getting help, rather than diving deeper.

As a business owner who works with female entrepreneurs who are often overwhelmed by the amount of ideas they have, I have seen how applying these focusing constructs can work across many different industries. If even one helps you move forward on one idea rather than none than I believe, it was worth it.

Tamara is the owner and designer at ‘Your Pretty Pages’ where she provides templates, planners, guides and resources for creative entrepreneurs to get and stay organized. To support your successful personal business planning, Tamara has just released two savings bundles of templates in her shop found here:  https://www.etsy.com/shop/yourprettypages

How to Network when Networking isn’t your thing

Sheralyn

You’ve opened your own business. You have hopes and dreams of hitting the big time or maybe you just have a vision, values and a commitment to a product that you want to share with the world. The problem is – you’re just not that comfortable sharing. You believe in your product and that YOU are the subject matter expert but talking to others makes you tremble in your boots. How do you overcome this challenge and get out there to meet, greet and network?

It all boils down to this: GET REAL and BE R.E.A.L.! (Be Realistic & Reasonable, Manage your Expectations, Develop a positive Attitude & Love what you do!) Too many of us spend far too long trying to be something that we’re not. If networking isn’t a strength, that’s fine. Some of us are experts at writing words and some are great at speaking them. Either way, OWN who you are and be proud of it. This one act alone will help boost your confidence. Getting R.E.A.L. is about acknowledging who you are and what strengths you have, then setting targets that are reasonable and realistic. When it comes to networking these first two elements are key: Be Reasonable and Realistic about your Expectations. If you’re a wallflower, don’t schedule a conference with over 200+ attendees as your first venture into networking. Rather, find something local, check in with your Chamber of Commerce or Small Business Enterprise Centre and connect with like-minded local entrepreneurs where there may only be 12-15 people in the room. Log in to “MeetUp” and search for groups that are within your specific market and consider attending one of these meetings just to observe how others in your field interact. If you work up the courage to engage even one person in conversation, distribute a business card or two, consider that the first step in your successful networking career! There are also many organizations that cater exclusively to networking for women and while cutting off 50% of your potential clientele is not a good long-term strategy, it is an excellent place to start and feel comfortable – in a nurturing all female environment. Before heading out the door on your first attempt, practice on family members, heck speak to the family dog or sit hubby or your best friend down on the couch and practice your pitch on them until it sounds right. Writing something down vs. saying it “in your out loud voice” are often two entirely different things so don’t just write a great intro for yourself, practice saying it out loud to see how it sounds.

Along with Reasonable and Realistic, make your first few networking experiences memorable by adopting a positive Attitude. This might sound simplistic but if you’re nervous going in it will show. Attitude isn’t just about the words you choose it’s how you carry yourself and the face you show to the world. Stand tall, put a smile on your face, project a positive attitude out into the room and you will receive it in return. Put your cell phone away and don’t rely on it as a crutch. I once watched a women at a networking event as she arrived, “reading” email messages, checked in, found a seat and cell phone still in hand, never looked up once. As others joined her table she would glance up briefly and smile but no words were exchanged. I purposefully approached to chat with her and it was obvious she was very nervous. I understand but never looking up and attempting to make eye contact or engage with others won’t help improve your networking skills. No doubt her overall impression of that networking event wasn’t positive but she did nothing to help herself. A positive “I can do this” attitude while you are at an event will help carry you through the event.

For women networking here are some other practical tips:

  • Ditch the purse or invest in a crossbody bag that keeps you hands free.
  • Find a small, easily opened case to hold your business cards and in which to store those you receive.
  • Put your cell phone away – unless it’s your kid calling from school or jail chances are you don’t need to take that call. Cell phones are a distraction and make it too easy for you to appear busy and not focused on the reason for attending in the first place.
  • Likewise – stash your coat, your nerves will keep you warm enough!
  • Networking isn’t about the coffee – make your goal to meet people first then suggest to someone you’ve just met “let’s grab a coffee and find a table.” It’s a great way to extend a conversation rather than fumbling to balance that coffee and extend your hand for a handshake when you are first introduced.
  • If you are more comfortable attending your first couple of events with another person that’s fine but agree to split up when you arrive. Maintain eye contact for mutual support and you can always join up later to sit together. You’ll have the confidence of knowing someone is there with you but the opportunity to meet other people too. You might even double your odds if you both meet others and mutually share the contacts and introductions you’ve just made!
  • Recently, someone suggested to me that you make a specific goal for yourself like “Meet three people” or “Exchange 4 business cards” and then you can leave. Having an objective before you head into the event will leave you with a feeling of accomplishment when you achieve it.

Finally, you hear a great deal about passion these days. That is – hopefully, if you are a small business entrepreneur trying to grow your business, you LOVE what you do. If you love what you do your passion will shine through and that’s going to help you in terms of your positive mental attitude and your confidence level when walking into a room for networking purposes. Here is the most important tip – if you LOVE what you do, fine-tune your introduction so your love, commitment and passion shines through. We’ve talked in this space before about your “pitch” or “elevator speech” or introduction. Whatever you call it, it will only work for you if it truly resonates and you are comfortable both saying it and believing it. In my Communications Course I talk a lot about the rule of 10 and this can be applied to your introduction as well as any other areas of your business. Take the time to identify the top ten words that best describe your business and what it is you want to convey to potential clients. Once those words are on paper, play around with them to create one short sentence that acts as a great introduction of yourself and your business. Most importantly – it should be a sentence that invites and encourages conversation through questions. I learned a similar technique several years ago while attending an event hosted by The Leadership Forum in Caledon. Conversation engages and encourages and is so much better then throwing a business card at someone hoping it sticks. Engaging in a great conversation is what just might lead to future business.

In the end, being R.E.A.L. about who you are will allow your integrity to show. Trust and integrity are an enormous part of why someone chooses to do business with you. If you are not great at walking into a room – that’s fine – practice some of these tips and be passionate about what you do and that will help significantly. Maybe even admit your fears when you’re having a chat – chances are, the person you’re speaking with might be feeling the exact same way!

As Owner and Principal partner of “Writing Right For You” Sheralyn is a Communications Strategist – working together with entrepreneurs to maximize profit through effective use of the written word. Looking for web content that works, blog articles that engage or communications strategies that help you get noticed?  Contact Sheralyn today. Sheralyn is also the mother of two children now entering the “terrible and terrific teens” and spends her free time volunteering for several non-profit organizations.

Sheralyn Roman B.A., B.Ed.

Writing Right For You

Communications Strategies that help you GET TO THE POINT!

416-420-9415 Cell/Business

writingrightforyou@gmail.com

LinkedIn / Facebook / www.writingrightforyou.weebly.com

When should you say No?

Praveeni

 

“No” is something we may be used to hearing as entrepreneurs, for every yes there are at least five No’s that come before it, but saying it is something that may be unusual. As you become more established and gain more experience people will start to notice you; both for your work and your value. This attention can be a blessing and a curse as your workload and commitments will increase. But just how much work or involvement is too much? When is it time to start saying No? I’ve always had a difficult time declining business offers and saying no to people in general, until one day I realized I was agreeing just to oblige others with no real benefit to myself or my business. Here are a few rules I’ve come up with for instances when it is alright to decline an offer or say No

  1. There’s no benefit to your business
    As an entrepreneur may people will try to sell you products, services, their time etc. to “help” you. It’s important to take a step back and examine each offer to determine whether or not it actually benefits your business. If there is no direct benefit then simply say No.
  1. It doesn’t make you money
    When you run a business it’s easy to get sidetracked and caught up in pointless meetings – basically meetings that have no profit or networking potential. They’re usually the kind of meeting where someone will email or call to “hear more about your business”. Be weary of these kinds of offers, if you don’t believe you can build a mutually beneficial business relationship then decline.
  1. Beyond your expertise
    Sometimes people ask you for your help or advice. Being an entrepreneur doesn’t make you an expert at everything business related so know the limits of knowledge. If something is beyond your expertise explain that it is beyond your scope and recommend someone else who may be of assistance.
  1. Detrimental to your brand
    Being aware of your brand and the message you want to convey is key when running your own business. Thus you must be conscious about how each business decision affects your brand. If allying yourself with a person, group or company compromises your brand or company image decline the meeting or offer.
  1. You’re spread too thin
    Time is something we never have enough of as entrepreneurs. If you find your commitments are taking away from your personal time with family and friends, it’s time to revaluate and prioritize. With all the volunteer and community involvement opportunities out there it’s hard to decline calls to help out, but remember when something is no longer enjoyable it’s time to quit. Volunteering can range from sitting on a board to even helping out at your local hospital. As a rule of thumb try to engage in two volunteer activities maximum, this way you’ll be able to focus more on them and give it your best.

Praveeni Perera is the CEO and co-founder of Professional Edge Consulting a corporate training company based in Ottawa offering training and coaching services to clients around the world.  She can be reached via Website, Twitter, Facebook or her Blog.

Lessons from social entrepreneurs for newbie self-starters

As an organization that helps socially conscious ideas come alive, our teams faces the same challenges faced by first-time entrepreneurs. Perhaps you can relate to this:

marisol blog image 1

Here are 3 tips from this #socent gal for all you lovely folks:

 

  1. It’s All In The Details

Many starter projects struggle through the infancy stages. During this period, projects are usually not fully developed yet, missing details, or are unable to fully guarantee success. During this stage, nothing is perfect. Money is tight, and manpower limited.

However, if you are just testing the waters, but don’t have everything figured out, or feel a little insecure about your project – Don’t worry. Just make sure you are able to communicate your project ideas and the intended outcomes clearly. Being able to do so will already set you apart from many other entrepreneurs.

Amidst the unpredictability of starting off, use storytelling and visuals to minimize misunderstandings for your listeners. Moreover, try to engage your audience by carefully crafting your communications material ahead of time, and have someone else review it for you.

  1. Keep Growing Your Track Record

We all know it. Starting a business can put a big financial stress on business owners – no matter how well prepared they are. Plans can fall through, partnerships may crumble, economic climates will change.

When money is not falling from the sky, always remind yourself to be patient, and that clients seek out proven track records and testimonials. The more opportunities you have to prove yourself, the easier it will be to command the fees you want. Hence, look for opportunities to showcase your skills.  If you’re creative in demonstrating your abilities, the value of your product, and are not afraid to take risks (an essential part of the entrepreneurial DNA), clients will take notice, thereby making it easier for you to adjust your pricing in the long-run.

  1. Don’t Listen to Fear

People sense desperation and fear in email replies, when conducting meetings, or even when negotiating prices. And it sucks. Because if anything, fear is the last thing anyone needs – especially, when you’re already struggling to pay your bills.

Whenever you feel restlessness and desperation kicking in, just sit back, breathe and take a step back. Remind yourself of why you started. Acknowledge that failure is part of the journey. But most importantly, stop internalizing these feelings of inadequacy, and embrace the natural progression in your business.

And if all fails, be confident even when you’re not. If you have to, practice your pitch in the bathroom mirror until the words naturally glide off your tongue. Attend meetings with someone, especially if you know that person is going to fortify your presentation or overall standpoint. In other words, fake it until you make and don’t be afraid to own all the work you’ve put into your business.

Written by Marisol and Silvia Fornoni, Founders of JDC.

JDC supports socially conscious organizations with finding sustainable ways to tell their stories using visual design, engaging content and non-traditional media. We help you with anything from organizing fundraising campaigns to web design and social media management.

www.joint-development.com

Facebook, Twitter, Instagram

Should I Start A Podcast?

 

Malene Jorgensen

You may have noticed a spike in podcast shows over the last year, as more entrepreneurs are starting to record shows to expand their personal brands. Many people listen to podcasts to expand their business knowledge, get new ideas and connect with other entrepreneurs.

People start podcasts for various reasons, but many business owners start these shows to promote their respective businesses. For example, if someone is a health coach and advice on personal nutrition, he or she can create a podcast where the discussion will fall on health in various ways.

At the end of the podcast, the business owner can refer to various products or services to get people to go back to the company’s website. While the podcast may not generate money in itself unless there are deals with advertisers, it can be a great marketing tool to push more paying customers.

It is also a great way to self-promote, if the business owner is planning on starting speaking, blogging or being the face of the business.

There are plenty of how-to’s when it comes to starting a podcast online. A simple Google search will give you everything you need.

 

Malene Jorgensen is an entrepreneur, author and speaker. Jorgensen is passionate about online content, blogging, online business development and e-commerce. She owns an international media publishing company and a design studio. Jorgensen has written several books that are sold in over 50 countries. She is also obsessed with coffee and Twitter. You can reach Malene Jorgensen at Website | LinkedIn | Twitter | Instagram

 

Stay Social with Canadian Small Business Women: