Forgetful Fridays- Hello Operator...

That’s right- you are most likely your company’s operations manager- along with all of the other titles that you have as an entrepreneur.

Being an operations manager is very different from being the person who is delivering your product or service on a day-to-day basis. Chances are you are doing both and are so busy trying to deliver in a way that makes your customers happy, you haven’t spent much time thinking or planning like an operations manager. The big problem with this, is that you are spending very little time improving your operations process, simply because you aren’t spending time thinking about how things could change.

I encourage every entrepreneur to review their operations process on a monthly basis. Identify where problems are arising.

Where are the bottlenecks?

Where is money being wasted?

Where is time being wasted?

Where have inefficiencies had negative impacts on customers?

Are there any quality issues arising?

Am I approaching capacity?

Doing this and coming up with strategies to tackle these problems will make the job of delivering your product or service easier. You will reduce stress by knowing that you are continually improving your operations process.

More to come on this subject...

Jen

Forgetful Fridays- Reinventing the Wheel

Are your sales what you want them to be? What are your plans to grow your sales?

Before you start inventing new products and services and spending your precious time on research and development- not to mention creating new marketing materials for these new products and services- ask yourself if you have done all that you can to sell what you already have developed.

Are you:

-Going to networking events where your target market will be

-Making sales calls to qualified prospects

-Following up with all qualified leads on a regular basis

-Asking questions when you get objections

-Filling up everyday of every week with the above tasks

Until you have done these tasks consistently for a period of time that exceeds 3 months, you should not start inventing new products to increase your sales. 

If you start inventing new products or services to remedy poor sales results before you have given a concentrated effort to selling for more than 3 months, you will be:

-Spending time on research and development for a product or service that still will have no method in place to sell it

-Create consumer confusion by taking your company in more than one direction at a time

-Spend money that you cannot afford to spend on product development and new marketing materials

-Still not have addressed the issue that was standing in the way of selling your previous product or service

-Frustrate yourself and potentially “fail” at selling another product or service

Stay Focused,

Jen

Retreat! Retreat!

“Times are tough”- I hear it everyday and I understand these words to be true, but I also see many new entrepreneurs retreating because of it.

Making sales and growing your business in a recession is not an impossible task, but it certainly could become one if you retreat. Right now is the time to get out there and let people know what you can do for them and why you are the best person for the job. If you are business to business, let your potential customers know how you can help their business thrive. If you are business to consumer, let people know how you can help them save money, reduce stress, and solve a problem they are having.

People still have needs and you still have solutions that can help.

Why Put Off Until Tomorrow What You Can Do Today?

Time management is the number one struggle that entrepreneurs will face. Marketing, sales, and delivery of your product or service are all stressful elements, but they are made more so by the finite amount of time that we all have to get things done.

One of the best tools to help prioritize is to make a to do list of all the things you have on your plate. It can be a combination of work and personal tasks if you want to look at it holistically, although some prefer to do a separate list for each.

Next- use the ABC method to prioritize. Put one of these three letters beside each task.

A= Tasks that are both urgent and important

B= Tasks that are important, but not urgent

C= Tasks that are neither urgent nor important

By using this method you will be able to focus on the tasks that need the most amount of attention because they have the highest impact. The goal is to try and have most things on the list be labeled B or C- as most tasks that are urgent today are tasks that have not been completed when they should have been.

Taking the urgency out of your to do list means greater efficiency and less stress.

Forgetful Fridays- Make People Care

The last Friday I wrote, I proposed that if you don’t know who you are as a business, your clients won’t be interested in what you have to offer. So if the first step is knowing yourself, the second is making your clients care about who you are.

The good news is that this can happen in a very organic way because you have genuinely defined who you are. Most people respond to people who are like them and businesses that fit their lifestyle. So rather than trying to convert people into clients- you speak directly to those whom you have things in common with. When you are consistent with your message, make the effort to get out and talk to prospects, and follow up- people will start to care. When they care about what you do, they will be more likely to make a purchase. 

Forgetful Fridays- Who Are You...?

Do you know who you are? That may seem like a silly question, but believe me, it is very important and a good number of entrepreneurs do not know who they are. Who you are is much more than your name, or your business name- it is your reason for being. 

The problem is that if you don’t know, your customer won’t know either- and few of us want to do business with people or companies we don’t know. If you are still having trouble finding the words to describe what you and your business are all about the slickest web designer and the best business card are not going to help you.

So often the answer to “Who am I and what is my business all about?” -is right there in front of us, but we shy away from it. We overcomplicate the answer and try too hard to give detailed information. Don’t be afraid to have a simple message- simple works well for the most successful businesses in the world and will work for you too.

This is the first step in creating a brand identity that your clients can understand and this will be the cornerstone of an effective marketing plan.

Jen

Who's the Boss?

When critical decisions need to be made- are you ready to be the boss? Sometimes when big things are happening it can be easy to stick your head in the sand and just hope that the situation will evolve into what you want it to be without having to make a call one way or another. I have yet to talk to an entrepreneur who has found this strategy works, myself included.

It is important to plan ahead to avoid being put in these types of situations as much as possible. That being said- stuff happens, markets change, and therefore plans have to change to keep up.

When you need to make a tough call, I recommend looking at the following points:

1.     What is the long-term vision you have for your business?

2.     What are the implications for your cash flow? Do you have the necessary finances in place to take things to a satisfactory point or do you anticipate running out of money part way through?

3.     How will this affect your relationships with your clients?

4.     What are the factors that you can control?

5.     What are the factors beyond your control? How could these impact your decision?

How do you make a difficult decision? Are there other points you would add to my list?

Forgetful Fridays Lesson #4- You are the boss, you and only you, have to make the tough decisions. 

Jen

Forgetful Fridays- Savour Success

As my fellow bloggers have mentioned, being your own boss challenges you to overcome fears, tackle obstacles, and sacrifice. With all of that on your plate, it can feel like very thankless work. If you were an employee of your company, rather than the owner, would you continue to want to work there? Or would you be polishing up that resume?

Many entrepreneurs start their businesses with flexible hours and independence being their motivators, only to find that they are working more hours than ever and that independence comes with its own set of stresses that can keep you up at night.

You are your star employee, but you are also the boss and therefore the only one who can recognize and reward your achievements. You may not be able to pay yourself more, indulge in retail therapy, or take that week away in Waikiki- but there are things that you can do to recognize your achievements. I suggest taking a bit of time every week to reflect on what you have accomplished. Look at where you were a week, month, or year before and be satisfied with all of the gains that you have made.  Sure, you can always do better and there will always be more work to do, but it is important to savour those moments of success that are so sweet. 

Forgetful Fridays Lesson #3- Celebrate Your Achievements!

Jen

Forgetful Fridays- You Gotta Have Heart

How are you going to thank your customers this holiday season? For many- this is a busy time of year and it can be hard to find the time to give back. But where would we be without our customers? 

Whether it is a simple card, a gift certificate, or a present of some kind it is important to let your clients know how much you value them. This is not just good business practice, it helps strengthen the relationships that you have with your customers. Think of how you feel when one of your suppliers goes out of their way to say "thanks" for your patronage- it makes you feel appreciated and creates a natural response that makes you want to continue to do business with that supplier.

It can be beneficial to create a "thank you" program as part of any marketing strategy and the holiday season is a great time to start it.

Forgetful Fridays Lesson #2- Remember to Say Thanks

Jen

Forgetful Fridays

I can't promise to be as dependable as Dominik and Richard- writers of Wise Wednesdays and Thoughtful Thursdays respectively- so I have taken up writing Forgetful Fridays.

Juggling the demands of my business with those of being a business advisor and trying to have a life, can leave it hard to find time to get everything done. That's a pretty common struggle for entrepreneurs and one of the best ways to manage all that you have to do is to manage expectations. It is important to be honest with yourself and with those that you do business with about what you can do and what you can't. The temptation can be to say yes to everything that comes your way, but if you can't come through when you promised you would, it does more damage to your reputation than saying no in the first place.

So in that spirit- I can't promise that I will be able to write something every week, but I hope that the title I have chosen has set the correct expectations.

Forgetful Fridays Lesson #1- Don't Over Promise and Under Deliver

Jenifer Forrest