Financial Articles

During a recent presentation to a local bank’s small business clients, I was questioned specifically as if I could share everything that I know about performance improvement for businesses, what would that be in one simple sentence? Even though I had never been asked that specific question, I knew immediately the answer to that query.

Before I provide you with my response, I challenge you to answer the same question. As a business owner or executive coach or even an individual, if you could share everything that you know about improving the performance of your business (or even yourself), what would that be in one simple sentence?

Do you have your answer? Well, let’s compare.

My answer was three words: Ask, Ask, Ask. Now let me demonstrate how these 3 words can quickly double your business.

This past summer through a referral I was asked to speak to a local tourism and hospitality association. During the conclusion of that presentation, I said that if anyone knew of any local group looking for a motivational speaker to please let me know as “I speak for food.” Even though I am a member of a national speaker’s association, many local groups from Rotary to Kiwanis to Chambers of Commerce cannot afford expensive speaking fees. From just asking, I booked the following:

• The bank presentation (unpaid)
• Seven unpaid speaking engagements at local service organizations
• One paid speaking engagement

RESULT: Prior to asking, I was speaking once every two months locally. Now, I am speaking once a week.

Additionally, I am in the process of working with the Regional Vice President of the bank in helping him to create Freedom Based Leadership within his firm.

Earlier this year, I was speaking with the Executive Director of the Small Business Development Center and asked her how I could help her bring in more business. This particular center had just lost a strategic partner. By asking, we created a partnership to deliver 8 very affordable 2-hour seminars on Business Building for Small Businesses.

RESULT These seminars generated for me 3 paid strategic planning clients in less than 4 months and the opportunity to deliver them at another site 2 counties away. For the Small Business Development Center, traffic has also increased.

Most recently, I was speaking to an acquaintance of my husband who is a local high school teacher and involved in an Academy within this rather affluent high school. The Academy is for tuned out high school students whose behavior is demonstrated by suspensions, high absenteeism, etc. During our conversation in which I shared some of my knowledge about performance improvement, I asked him how could I help him? He said that he needed a one-hour speaker the following week, but he had no budget. I asked him if he would like me to speak for free? He was quite overwhelmed by my offer.

RESULT From this unpaid one-hour presentation, I am scheduled to deliver a ½ day paid workshop. I had been trying to secure this school as a client for over 5 years without any success.

Many times in business we are so busy telling, that we aren’t really selling. By asking for referrals, speaking engagements and even help from mentors, we are taking advantage of incredible opportunities that in the past we walked right by.

Yes, there is an art to asking. For example, when I ask for local speaking opportunities, I do say that “I speak for food.” This statement usually receives a chuckle, but allows individuals to approach me who otherwise might not have because of the perceived obstacle of money.

Another example is when meeting a prospect to better understand what she or he does, I always ask:

• How can I help them with their business?
• Who is their target market?
• Would this resource be of benefit (usually a website such as an article database or another site specific to their business)?

If I am near closing the sale, I always ask: “Where do we go from here?”

Believing in the Laws of Reciprocity and Abundance, asking is a way of giving that quickly produces abundance. Now, your challenge if you decide to accept is to begin to use these 3 simple, but extremely powerful words and watch your results quickly double.

P.S. Let me know how this works for you.

Do you know that small businesses in the United States of America employ 75% of all the people employed in America? It is true and sometimes that number floats even higher. In fact, if it weren’t for the small businesses in America the United States would not have much of an economy at all. Small businesses are the backbone of the United States economy. Anyone who tells you otherwise is blowing smoke.

Now then, let’s talk about taxes. You see, lower taxes for small businesses and individuals improve our economy. When small businesses have tax incentives to reinvest in their companies then that is what they do. When a small business invests in their company they buy more equipment and they need to hire more people to run that equipment. Also people need to be hired to make that equipment at another company and that is how it works folks.

The Democrats of course want to raise our taxes and you can see why I would be opposed to this. We all know the government is very inefficient and businesses are very efficient; businesses have to be efficient or they can’t make money. Government is only good at one thing; wasting money. In fact the government does that quite well. Do we really want to give them more money to waste?

As a small-business person I am quite happy with the tax incentives for reinvestment in my company and I’m actually very happy with the Bush administration and their policies for small business. We need less restrictions and regulations, fewer lawsuits and we need to keep the taxes lower. Why you ask? Well, it is quite simple, small businesses are the backbone of this nation and we should do everything we can to help them. Consider this when you vote in 2006.

I encourage you using controversy to differentiate your business from your competitors. But when you do, you’d better know what you are doing.

A Mitsubishi dealership in Columbus, OH recently decided to run “A Jihad on the automotive market” ad campaign that declares, “Our prices are lower than evildoers’ everyday, just ask the Pope”.

I don’t think everybody who hears the message on the radio takes it well. However, the dealership accomplished one goal — they got everybody’s attention. National media picked up the news and talked about the incident and it’s obviously making them more famous but not necessarily popular.

Being controversial does not demonstrate your advantage. Those who hear the marketing message need to know how their message focuses on them and what kind of problem this dealership solves.

But what is the center of this ad campagin? Their message mentions how their dealership offers vehicles at lower prices than others (you hear this from every cardealership in every city).

In the past, I mentioned in a different article how you should not guarantee the lowest price especially if you are in the car business. Because in the automobile industry, the market demands certain pricing for vehicles and lowering the prices should not be your selling proposition. But packaging the right products with services at fair prices should be.

So what does this message accomplish? In my opinion, it accomplishes nothing because their message confuses the market with “silly” proposal that uses rather controversial and offensive theme. Whoever listening to this radio ad cannot help but to think,

“Huh?”

It’s silly and just repeats the same old, “We guarantee the lowest prices if you can qualify” message.

Instead, I would rather see “a war against the industry”. The market demands change in the industry and if this dealership steps up to be the first one in the city to completely change the perception of the business, it will be controversial and effective.

When CarMax Inc. first came into the used car industry, analysts and critics didn’t think it would do well, offering fixed prices and paying sales people flat commission.

But it worked because their move was bold, controversial and daring but not silly like this Columbus dealership campaigned their ad. CarMax’s message articulates their advantages when compares to all the other competitors while completely focusing their marketing campagin to the interest of the audience. That is controversial but the business certainly knows what they are doing.

They craft marketing messages only after conducting market research, and doesn’t run “Let’s wear ‘burquas’ and dress like Islamic women!” high school like silly marketing campaign.

If you use controversy in your marketing campaign, please craft your proposition according to what the market demands and how you can solve their problem.

Being controversy will get your attention you deserve but being silly and poking a little fun at sensetive events will hurt your credibility more than you bargain for.

It takes years to build your reputation but only takes a day to destroy it. Be careful what you wish for when creating a buzz.