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Large group of people with relationships

You Can Build Wealth – But You Must First Build Relationships

Relationships are the key to a fulfilled, successful, and yes even wealthy life.  Life is 100% relationships. Think about the people you come in contact with every day. Each one of those people plays an important role in your life. Whether it’s your spouse, children, customer, business partner or even the casual acquaintance. Build the right relationships and you will ultimately build your wealth.

1. Participate in a relationship-based referral group such as Core Dynamics

The key word in that statement is “participate”. You must get actively involved. Just showing up to the weekly or monthly meetings isn’t enough. Will you get some business by just your attendance? Yes. However, if you want to truly grow your business based solely on your referral partners you must get to know them and allow them to get to know you, the real you. People never, and I mean never, like to be sold on product or service. People want to do business with people they know, like, and trust. They want to know how you can help them. Schedule at least 2 lunches or coffee meetings every week before you leave the group meeting. Otherwise, life happens and you’ll be sure to be meeting-less that week.

2. Know, like, & Trust.

Zig Ziglar said it best “If people like you, they will listen to you. If they trust you they will do business with you”. People have to trust you. When was the last time you went to a car dealership to purchase a new car? Did you feel a little uneasy about the process or did you work with someone who you ultimately trusted to help you through the process? Building trust can take months or even years. But I can assure you once people trust you they will refer you to their family, friends, colleagues, and other business owners.

3. Keep it to coffee.

Just about everyone drinks coffee. Meeting for coffee requires less commitment than meeting for an hour over lunch. Within 20 minutes or so you can begin to build the relationship. Schedule your next coffee meeting before you leave. Remember, this is relationship building, not a one and done stop to spew your product or service all over them.

4. Always ask.

Too often I’ve witnessed meetings where the 2 parties involved talk over each other to talk about themselves and their products or services. It becomes a series of bad commercials and no one is listening. Ask them how they got into the business. Find our what their challenges and successes have been as a business owner. Inquire about their family. Get to know them. While it may sound simple refraining from sharing everything we can offer and asking about the other person can be a real challenge.

5. Listen and listen again.

Now that you’ve asked the questions clear your thoughts. Don’t try to think about what you’ll ask them next. Do not think about how your product or service could help them. Just listen. Listen intently. People love to share their stories. Let them share. Building relationships takes effort on your part. Listening and truly hearing what the other person is saying is key.

 

6. Take notes.

Yes, take notes. Let’s face it. The average person only remembers 50% of what they hear after 3 hours and only about 50% of that after 24 hours. If you really want to build the relationship take notes and study them as if you were studying for an exam. People have a genuine need to know people care. Remembering their birthday, their favorite restaurant, their pets name goes a long way. I always ask permission to take notes and share that I can remember things much better if I write it down. Most people consider it a compliment that you would actually want to remember what they’ve told you.

 

7. Keep your word.

Maybe this one is so simple people undervalue the power of doing what you said you were going to do when you said you were going to do it. Remember, if people trust you they will do business with you. Miss a scheduled meeting, forget to send information you promised you would send or fail to meet a deadline that you assured them would be easy to meet and you’ve probably lost their trust. You may gain it back eventually. However, the process of building the relationship and the trust starts all over again.

 

8. Understand the power.

Many business owners don’t understand the power of relationships. Everything you do in life can be successful or fail because of a relationship. Marry the wrong person and end up divorced. Chose the wrong CPA and end up with a drowning business. Chose and build the right relationships with the right people and it will change your life. Business is an ever evolving target and so are your clients. If you are a small business that relies on local shoppers your time is better-served building relationships than your marketing campaign. Yes, it’s that serious. Small businesses can live and die by a referral. Do a great job for someone who knows, likes, and trust you and you’ll get more business from them. Break their trust and you will lose more business than you will ever know.

See the power.

Here’s a simple example of the power of relationships. Ms. Jones purchased a house. Mr. Ross was her realtor. Mr. Ross recommended Mrs. Davis to provide the financing for the home. Mrs. Davis recommended Miss Scott to provide the home inspection. Miss Scott recommended Mrs. Wright to close the loan. Mrs. Wright recommended Bob Green to help the Jones move. Bob Green recommended Mr. Smith to provide the homeowner’s insurance. Mr. Smith recommended Ms. White to provide the move in and move out cleaning. The Jones family was taken care of through the entire process. Each business gained a client and new business…with zero marketing. All they did was build the right relationships with the right people.

 

9. Block time.

We all have the same amount of time. So, why are some people so successful and others are not? The difference is simple. Successful people block the time to do what’s important. Building relationships is important. Even if you only block a couple of hours a week, block it. Make a half of one day a week your meeting or relationship building day. If you block every Tuesday from 9:00 a.m. until 11:00 a.m. to build relationships you could meet 4 people every week. That’s 16 new or a combination of new and existing relationships every month.

 

10. Go give!

We live in a society of go-getters. Be a go-giver. Look for opportunities to help others achieve their goals or just meet their needs. Ask who they would like to meet. Make the introduction for them. Ask what you can do to help them and then do it. Another favorite Zig Ziglar quote of mine is “you can get everything you want out of life if you’ll just help enough other people get what they want”.

 

So, the next time someone invites you to a networking group, get excited for the opportunity to create and build a new relationship!

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shocked at competitors

Who your greatest competitors are may shock you!

Before we begin, take one minute and write down all of your competitors that comes to mind.

Do you now have a list of companies that offer similar products and services? Do you have about 10 of your local obvious competitors?

My guess is that you’ve missed your largest competition and who they are may shock you.

Most business owners only consider the obvious direct competitors, missing their potentially largest competitors.

Ask any salon owner who their competitors are. They quickly rattled off 25 other salons. While the other salons are competition, they are not their greatest competitors.

Ask any attorney. I can assure you they will provide a list of other attorneys. Again, not their greatest competition.

What most businesses overlook when it comes to their competition is the educated consumer.

A salon owner would never consider Walmart to be their competitor. The salon owner would argue that Walmart is not their competitor. Why? Because the salon provides at atmosphere, quality products, services, and a level of expertise that the box color on the shelf of Walmart could never provide.

They may be right. However, the consumer, who wants to change the color of their hair has access to thousands of options within seconds. One search using the keywords hair color and 10 different box color options appear on the first page. Try it for yourself. Unless there’s a salon in your area who understands the power of and how to optimizing their site based on consumer searches, you’ll find box color options for pages.

Attorneys seldom, if ever, consider their greatest competition. Again, it’s the consumer. Every legal document known to man is available, accessible, and downloadable in seconds, usually at no cost. Even the large box stores carry a vast variety of legal documents.  Let’s not forget the Legal Zoom and Legal Shield. For about $19.99 a month the consumer has legal access at their fingertips.

Sure, there is a vast difference in the value of the advice, guidance, direction, and experience of an attorney vs the downloadable document. Salons provide an experience that box colors can’t.

However, unless you educate your consumer, they will continue to be your greatest competitor!

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hot air balloon marketing

90 Marketing Strategies for Small Business Owners with No or Little Budget!

Marketing on little or no budget? Yes is it possible!

How many marketing strategies do you have actively working to drive business to your door? 100 or more? If it’s any less than 100 you’re missing countless opportunities!

I know what you’re thinking.

That’s impossible for any small business!

What if I told you it was possible and on a very minimal…almost zero budget?!

Visualize your business. Think of it as a porch with pillars. If you only have two pillars (marketing strategies) and one pillar collapses your roof (business) is sure to fall. However, if you have ten columns, each with 10 different support systems built in, your roof will have continuous support!

Before building your 10 x 10 marketing plan you should first DEFINE YOUR TARGET MARKET, and Follow this 9 Must-Do’s to GENERATE AND CLOSE LEADS IN TODAY”S MARKET!

Take a moment and list all the general marketing avenues you are currently using. Now, within each one of those avenues how could you utilize that avenue for more potential? If you’re using social media as an avenue what other social media platforms are available. I can think of 10 free social media platforms. The pillar (Marketing Avenue) is social media. The supports (Strategies) are the 10 platforms. That’s 10!

If you have a website what are the 10 things that you could do to generate and potentially close leads on your site? That’s 20!

If you have a referral program, what are the 10 ways you could generate referrals? That’s 30!

The list goes on and on!

Check back or email me at crystelsmith1012@gmail.com for a 10 x 10 downloadable marketing strategy list with over 90 strategies with zero or minimal investment required!

Marketing doesn’t require a hefty investment that’s tied to guess work. If done strategically, efficiently, and effectively it can generate and close more leads than you ever thought possible!

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confused about vision and mission

Is There Really a Difference Between a Vision Statement and a Mission Statement?

First of all, if either of these is just a statement to you don’t bother writing them. Too often companies write lengthy meaningless vision and mission statements merely because they’ve heard they need one, for marketing, a business plan, or just because they “should”.

Yes, there’s a difference.

Your company’s vision is exactly that.

The overall purpose, of your company. The big picture that drives every aspect of your business. The why in what you do every day.

Every product, service, system, team member, action in your business should be to achieve the vision of your company.
It should be simply stated, making it easy for consumers and your team to understand, remember, and recognize.

A local company with a clear vision states this “Simplify Life”.

Talk about clear, direct, and easy to understand, and identify! Every decision made in the company for a new product or service should “simplify life”.

Your mission is how you will achieve your vision.

Your mission should be clear, direct, and briefly stated.

The above company’s mission? “Taking care, custody, and control of our customer’s belongings.”

This company provides storage for local residents.

Their why is to simplify life. Their how? By taking care, custody, and control of their customer’s belongings.

As you put your vision and mission into writing, remember this.

Know your why. Make it clear to all those who know or may need to know you. Live it every day. Be very specific about your mission, your how. Act on it every day.

 

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