Don't Keep it a Secret

By Peggy Stefan

Here it is. The second quarter of fiscal 2013. Are you reflecting on the first quarter and looking at what you did right, or what you did wrong?

One of the biggest mistakes that small business owners (or anyone for that matter) make is looking at areas that need improvement, rather than dissecting what went well, and then doing more of the same! Here are a few tried and true strategies that I promise will be business builders over the next three months:

1. We all know that a current customer is a better customer, in every sense of the word. For one thing, they already like your product—they found a reason to buy from you once, unless you’ve changed, they’ll buy from you again. Yet, time and time again, we look to new business and new prospects, forgetting that our current customers are the most likely to buy from us.  It’s so much easier to call an existing client and ask them how you can be of service. Ask them what you’re doing right, and then do more of the same. You may have a product or service that’s a onetime purchase (wedding planner), or an infrequent purchase (new car), but don’t assume that “buying” necessarily means an exchange of money. Ask them for a referral. I know that’s hard for some of you, but if you are serious about your business, and believe in yourself, you can and will ask for a referral. If you are providing a great product, and exceptional customer service, it will happen all on its own.

2. Invest in yourself and your business.  Don’t think small—small thinkers are small revenue makers! Don't purposely delay the success of your business just to save a buck. We see it a couple of times every week at The Commons. An entrepreneur comes in and can’t pull the trigger on investing between $16 and $25 per day for a professional office space. They would prefer to meet their clients at a coffee shop or other public place. Now, we love coffee shops, and we meet our friends and business acquaintances there too. But, if you’re having a meeting with a client or prospect, do you want them to think this is your business, or your hobby? You made the decision to be in business for good reasons. Remind yourself what they are.3. Use modern marketing techniques and leverage technology to grow your business. If you don’t, you are leaving money on the table. Learn how social media fits into your business strategy; find out how search engine optimization works, and how you can make it work for you; meet with a marketing/branding expert and see how they can help you. You have a talent/skill/niche/genius. Ask an objective outsider what you’re being clear about. What have you got to lose? Besides clients … and money.

4. Step out of your comfort zone and talk to other entrepreneurs. “Networking” is not a dirty word! Go to a Meetup, BNI or other organized networking meeting. Attend a class, workshop or seminar. Step out and see what other people in the same boat are doing to succeed. It's hard enough to be in business for yourself—why do it all alone in your basement?

You are solving people’s problems, easing their pain, and improving their lives. Don't keep it a secret.