The Top Tip For Starting A Successful Business

Open for businessBecoming a successful entrepreneur is your goal and your start-up business is now in its third week of trading.

Thank you for following the Business Start-Up Month posts on this site.  This is becoming a popular series.

In The Solo Success Start-Up Guide the motto for week one is:

Markets Matter Most.

That’s true.  The market will decide your fate. 

The motto for week two is a sobering one:

You’ve nothing to sell until you know what people are willing to buy.

Now it’s week three.  What’s important for this week?

How to become a successful entrepreneur – quickly

The advice I offer to new businesses and fledging entrepreneurs in the guide is the advice I offer to all our customers.  It’s advice that I follow every month, too.

Week three of the month is the time to think about business development.  Each month I work out:

  • how many hands I have shaken
  • how many new hands I have shaken.

It’s a simple metric, but it’s an indication of:

  • how much business I am doing
  • how well I am building relationships
  • how many new prospective clients, prospective strategic alliance marketing partners etc I meet.

I then work out how many business discussions I have had and how much business – new and repeat – I have gained.

There is a relationship between how many new hands I shake in one month with how much new business I gain two or three months later.  Keeping relationships going over time helps with repeat business, too.

The top tip for business success

In the third week of each month I plan out my networking schedule because it’s through business networking that I tend to meet new customers and new business partners.  I decide which events I will attend in the next four weeks.  I work out which seminars or other events I will attend.  I work out how much “virtual networking” I plan to do via social media.

Then for the next four weeks I implement that plan.

So what is the motto for the third week of each month?  It’s:

Get out more.

Business doesn’t come just because you’re there.  You – and I – have to go out and find people and businesses to work with.

The businesses that are going to succeed and continue to succeed are the ones that both understand this point and act on it.

See you out and about.

Over to you

It’s nice to have a metric to think about.

  • How many hands do you shake each month?
  • Do you find there is a link between people you meet and how much business you gain either directly or by referral?

Is this a metric that you use?  Let me know in the comments below.

If you like this post please “like” it on Facebook and tweet about it using the hashtags:

#startup

#smallbiz

#entrepreneur.

You might also like to read:

The Five-Minute Guide To Managing Your Second Week In Business

The Most Common Mistake New Businesses Make – And How to Avoid It

Print Friendly

What Successful Entrepreneurs Forget To Tell You About Creating A Great Business

Peas and professionals

Will you be different?

You probably have at least one business book on your bookshelf or in your e-library that’s written by a big name entrepreneur.  You know the ones I mean – those highly successful people who have made a lot of money out of their businesses and are now sharing their successes.

Perhaps you have more than one of these books in your collection.

There are plenty to choose from.  They cover a wide range of topics and the writers reveal a lot of their secrets.

Secrets Of Successful Entrepreneurs

These tend to be written by people who have become well-known names.  They are often superstars in business.  They’re often very wealthy.  Their books are personal stories.   They tell you how they did whatever they did.

  • Sometimes they tell you about their system that leads to success.
  • Sometimes they want to sell you their system.

They write about

  • the skills they have developed and used on their journey to success
  • their passion for their business
  • their tenacity, often in the face of adversity
  • their stamina.

They might write about their ruthlessness, too.

Often successful entrepreneurs are mix of all of the above.  What fascinates us is how they apply their skills and how they tell their story.

We don’t always learn much about how to run our businesses as a result, but we enjoy their reminiscences.

Secrets Of Successful Chief Executives

Some people who succeed in business hate the idea of personally being centre stage.  They don’t see themselves as personalities.  They see themselves as the creators of teams who, in turn, are responsible form the success of a business.  They are the people who help others to succeed.

  • They set the vision for their organisation.
  • They say: “This is the way we’re going.  Follow me.”
  • They help to ensure that others share the vision and help to implement it.
  • They also accept that their task is to enable others to achieve.

They are often little known figures, but they are central to success.  It’s when they leave that those who remain in the business really come to appreciate their efforts.

These people, too, will sometimes write and speak about their successes.  We like to read about how big companies achieve and how they get to the top globally.

However, it’s often difficult to apply what these people have done to our situations and to our businesses, especially if we’re running small enterprises.

The Simple Secret Of Business Success

Those entrepreneurs who are personalities and the chief executives who achieve lots via their corporate structure often want to help people who are just starting out in business.

In some ways their books, guides, audio tapes, training programmes and the like are very helpful.  In one sense they often neglect some of the basic skills that a would-be entrepreneur needs.

So what is the simple secret that successful entrepreneurs don’t tend to spend much time on when they write their books and e-guides?

It’s the skill of sifting through all the information that is available, making a decision and sticking to it.

Why is decision-making so difficult?

Decision-making is essential in business, but so many people are very bad at it.

There are so many options these days that the old idea of rational decision-making doesn’t work.

The advice was once:

  1. Gather together all the information on the topic.
  2. Review it rationally.
  3. Make a decision.
  4. Implement the decision
  5. Stick to the decision.

These days there is so much information we can never gather it all.

Some people procrastinate and put off making decisions until they’ve read a bit more, learned a bit more, attended another seminar and so on.  These people never start their businesses, because they never have enough knowledge or enough information to begin work.

Having made a decision, some people don’t stick to it.  They change course again and again.  In business you regularly meet people who describe themselves in one way this month and in another way next month.  They specialise in this, that and the other.  As a result no one knows what they do.

They never make progress.  They literally spend their time going around in circles.

Serious Entrepreneurs Make Serious Choices

Those successful entrepreneurs and chief executives mentioned above make decisions.  They expect to make decisions. They stick with their decisions.  They implement their decisions.  That means they resource their decisions.  They communicate their decisions to others.  They remind their staff of their decisions.

They don’t tend to dwell on the fact that making decisions is central to business success.  For them this is an obvious point.

For the person starting out in business it’s much less obvious.

However, you’re not ready to take the good advice that the experts offer unless you’re also ready to accept that you’ll have to decide, in the end, which advice you intend to follow.

So get ready to take action and learn the simple lesson that will help your business to succeed.

Creating a great business depends on your willingness to make decisions.

Do You Agree?

  • Do you read lots of good advice but fail to implement it?
  • Are you reluctant to commit to actions in your business?
  • Do you like to keep on learning more and avoid taking action as a result?
  • Do you read the books that successful business people write without taking action?

Let me know in the comments.

If you like the post, please tweet about it using the hashtags:

#startup

#smallbiz

and “like” it on Facebook.

Next time I’ll be writing about why selling skills matter less to your business than some of the other skills you probably have.

Meanwhile, you might like to read:

Starting a consulting business – Only you can do it.

Print Friendly

If you start a consulting or coaching business, will it succeed?

Pink Boots

Yes, but will they sell?

You’ve been thinking about starting your consulting or coaching business for some time.  You’ve had a business idea that you think might work, but you’re not sure.

  • Is now a good time to start your business?
  • Will your new business succeed?
  • Will you make enough money to live on?

If it were easy to find the answers to these questions then just about every one who started a business would succeed.

However, there are issues you can think about and questions you can ask that can help you to improve your chances of success.

Starting your own business

Businesses succeed or fail because of lots of factors.  These factors matter for consulting businesses and coaching practices, too.

  • Your product or service matters.
  • Your motivation matters.
  • Your skills matter.
  • Your approach to running a business matters.

All of these things can cause you problems if you don’t get them right.

If you’re going to succeed in business you also need to know the answers to three very important questions.

  1. Who is buying?
  2. Are they buying what I intend to sell?
  3. Are there plenty of people looking for what I want to sell?  Or Are the people who are looking to buy what I plan to sell buying in volume?

Successful businesses focus on the customer

When I listen to people who have started a consulting or coaching business it’s often relatively easy to work out who is likely to succeed and who is likely to fail.

  • Are these startup businesses focusing on who they intend to sell to?
  • Are these startup businesses really sure what individuals in their marketplace are buying?
  • Are these startup businesses learning more about what the key individuals they want to sell to would like to buy?

And most importantly …

  • Are these startup businesses modifying and refining their offer to make it a better fit with what their market is buying today and hoping to buy tomorrow?

The willingness to bend to the market really is the secret – or not-so-secret – ingredient that leads to business success.

Business startup mistakes to avoid

What are the danger signs that indicate you haven’t got the focus of your business right?  Have you said or could you imaging yourself making any of these statements?

I know how to do this.  It has to be done this way.

The best approach is my approach.

I can’t cut corners.  People have to have the full package.

There’s only one right way to do this.

This has to be a three-day training programme.  There’s so much to cover.

I’ve heard people running startup businesses saying all of these things.

Coaches say that people really must buy ten hours of support.  They can’t manage with less.

Consultants say that they have to work through a particular process with a customer.

Management development providers say they can’t cut a programme back to a half day or to a two hour session.

The customer says something different and as a result these coaches and consultants don’t get any work.

Make your consulting or coaching business a success

A LIne Of Boots

Is this more like it?

Consultants and coaches and other expert professionals often focus on their skills, their qualifications and the approaches they use.

This makes selling hard work.

It’s far easier to find out what people are actually buying right now and offer them something similar than it is to educate an indifferent audience about what you do and why your services will be helpful to them.

Your success depends on your ability to engage with a market, so forget yourself and think about the customer. 

Now it’s your turn . . .

If you have any questions to ask about what really matters when you start your business, ask them below and I’ll try to answer.

If you like the post, please tweet about it using the hashtags:

#startup

#smallbiz

and “like” it on Facebook.

Next time I’ll be dealing with the personal qualities that you will need if you’re going to succeed in your new business.

Meanwhile, you might like to read:

Warning! The economy is in trouble, so start your business today.

Take a look, too, at the information about The Solo Success Start-Up Guide.  This is my guide for independent professionals and solo-preneurs starting out in business.


 

Print Friendly

How Twitter helps my business

Dove

Need some more friends?

This is one of the most important posts in the Twitter tutorial I’ve been writing.

I’ve covered a lot of ground over the past few weeks and tried to help people who have very varied experiences of using Twitter and different objectives for their Twitter accounts.

One of the things I’m always reminding people about is this.

If the time you – or I – spend on Twitter isn’t delivering something to the business, then we’re all wasting our time tweeting, retweeting, direct messaging and the like.

Therefore, it’s really important to think carefully about how Twitter is actually helping to bring you business.  That’s why, today, I’m writing about how Twitter helps my business.

Building relationships via Twitter

The Adams Consultancy Ltd works in a crowded marketplace.  We primarily sell intangible products. We’re a consultancy.  We work in the field of organisational development, business performance improvement and helping senior people – from international organisations to solo professionals – to enhance their business’s profitability.

In recent years a lot of our success has been achieved because we’ve been able to help our customers to make more and better use of the online world – including using Twitter effectively.

I use my Twitter activity to demonstrate to customers and potential customers that offline businesses really can use social media to help to bring in new business.

In my use of Twitter I focus on:

  • building relationships with businesses in my niche
  • entering into dialogue and discussions with key players in my marketplace
  • making,  and sustaining, contact with a more diverse – but relevant – audience than I could via other methods.

As a result The Adams Consultancy Ltd is well known in its niche.  We have raised our profile significantly because we are on Twitter.  We get lots of click throughs to our various websites from Twitter.  We generate more interest in what we do via Twitter.

We help our customers to achieve similar results.

Being remembered because of Twitter

Some people say their aim to get their name known via Twitter.  That’s a laudable objective, but I don’t think it’s enough.

  • Getting your name known is important.
  • Having people remember your name is more important.
  • Being remembered for what you do is more important still.

I remind my followers regularly – about every two or three weeks – why I’m on Twitter.  The reason I state is that I aim to help our customers, and anyone else who is interested in learning, to use social media, content marketing strategies and their websites to bring in more new business faster.

In making this commitment, and then delivering my promises, I’m encouraging people to think of my Twitter account as a valuable resource.  That’s why people follow me on Twitter.  They get something of value in return.

Does Twitter help my business to grow?

Twitter helps The Adams Consultancy Ltd to build its reputation in its niche.

Twitter helps us to shorten the sales cycle when we’re in dialogue with potential customers.

When I meet people for the first time, for example, at business networking meetings, those people who already follow me on Twitter are more likely to be prepared to have a serious business discussion sooner rather than later.  They are more likely to ask for a meeting to discuss their issues when we first meet.  They are more likely to do business with us after that meeting.

If my view this justifies the time I spend on Twitter.

Over to you

I’d love to hear about how Twitter is helping you to build your business.

Let me know in the comments below.

If you don’t already follow me on Twitter, let’s connect.

See also:

Three reasons why serious business people use Twitter

How to get more people to notice your tweets


Print Friendly

If you’re on Twitter, do you need to be on Facebook?

Bells

How many do you need?

This is the question that I am asked a lot when I’m helping people to build the visibility of their businesses online.

The question is usually asked in a way that begs a negative response.

Clients tend to add:

“Facebook isn’t serious.  Facebook is frivolous.”

They hope I’ll agree.

They are wrong.  Facebook has more than 700 million accounts.  Facebook advertising is big business.  Lots of people are exploiting the value of Facebook.

So, if you’re on Twitter, do you need to be on Facebook?  I think you do, unless there’s a very good reason why not.

Where are your customers?

You probably decided to create a Twitter account in order to reach out to your marketplace. You wanted to interact with customers, potential customers, thought leaders in your industry, potential suppliers and so on.

The same applies to Facebook.  You can reach out to these types of people on Facebook, too.  However, with Facebook you’ll be creating a business page and not a personal profile. You will be maintaining a businesslike stance on this platform.  You won’t be sharing the details of the party you went to last Saturday, just as if you’re serious about Twitter, you won’t be tweeting about your new shoes.

What’s really important is to ask yourself if your customers are on Facebook.  If they are, you need to be.

Don’t stop there.  Are the people behind the organisations you want to engage with on Facebook?  Are your competitors on Facebook?  Are there conversations about your industry on Facebook? Check out these points.

Why are you on Twitter and Facebook anyway?

As a businessperson you’re looking to become more visible in your marketplace as a result of being on Twitter.  That same strategy applies to your use of Facebook.

In both cases you want to drive people from the social web to your website.  Twitter and Facebook are both great sources of website traffic.

Put useful and interesting content on the social web, and you’ll be able to entice quite a few people to visit your website.

At one level Facebook is better than Twitter at this task because you have more scope for putting interesting material onto your Facebook page.  You’re not limited to 140 characters.

Will you engage with people on Twitter and Facebook?

For me, the most important word in the vocabulary of the social web is engagement.

  • Success online isn’t about great design, although design matters.
  • Success online isn’t about great content, although without great content you don’t have a chance of success.
  • Success online isn’t about SEO, although you ignore the search engines at your peril.

 Success online is about engaging with others.  It’s about engaging with other Twitter users and with other Facebook users. 

The two platforms are different so you engage with people in different ways.  Success is about getting out and conversing.  It’s about helping and supporting.  It’s about demonstrating you’re someone worth knowing.

So will you engage with people on Twitter and on Facebook?  Your success depends on your willingness to do so.

If you’re on Twitter do you need to be on Facebook?

In the end it’s your choice.  You probably survive without getting on to Facebook but is it a good business decision?

You might like to look at our Twitter and Facebook profiles to see how we use the two platforms. .

On Twitter I tweet interesting information about building reputation and standing online to our customers and to prospective customers.

Take a look at my Twitter account.

On Facebook I expand on these ideas and share a lot of guidance from other sources, too.  Of course, there’s more opportunity to interact quickly on Facebook, so I find it a valuable platform.

You can find us at Social Media Success Community.

Over to you

What’s your view?  Is it enough to be on Twitter, or have you decided your business needs to be on Facebook, too?  Leave a commt.  Tweet about the post or “like” it on Facebook.

Print Friendly