1. Communicate with prospects effectively

• Communicate with your qualified inquiries often and keep your brand at the forefront.
• Send pertinent messages related to where your prospect is in the buying cycle offering them information to help move them from one stage to the next.
• Online marketing (such as search engine optimization and Pay Per Click) works best for inbound marketing. Direct marketing, (such as email, e-newsletters and telemarketing) is ideal for outbound efforts.

2. Communicate with leads in time

• Too many companies lose business because of lack of timely follow up on leads. Save time by using marketing automation software that incorporates lead management, inclusive of crucial activities such as lead scoring and lead nurturing.
• Following up on both high and low probability prospects through manual methods (phone, e-mail or in person) is time consuming and creates inefficient and inconsistent processes for ‘eyeballing’ a lead to determine if it’s ‘hot’ and leaving it up to personal discretion as to who is followed up with and in what manner.
• Automation sifts through leads, qualifies them and keeps them in follow up mode until they move forward or drop from the buying cycle. By clarifying your list, automation targets prospects based on demographics, activity history and online behavioral triggers allowing your sales team to follow up on the highest-potential leads first, while allowing marketing to nurture the rest.

3. Communicate within your company

• A study by DemandGen Report shows sales opportunities increase by 20% with nurtured leads versus non-nurtured.
• But, for effective lead nurturing, marketing and sales must agree on the process of lead qualification. To be sure both are on the same page, ask these questions about closed leads: How long were their sales cycles? When during their buying cycles did they enter the marketing funnel? What kind of offerings did they respond to?

1) How is the market?
Brent: The market is strong. Whether it is tech, industrial, construction or Telco, all the sectors we deal in seem to be experiencing strong growth in sales and are expanding operations, upgrading facilities, and investing in sales and marketing efforts. There is also a lot of changing of the guard with incumbents faltering and new players coming on. On the flip side, companies that have survived on investment rather than cash flow and profits are sputtering.

Companies that come to us tend to be strong companies that are making investments in their infrastructure across the board and it is a very exciting time.

2) What is the market for hiring?
Several of our clients are overhauling their whole sales team, replacing poor performers and adding new head count. At the same time, reps who have experienced lower commissions over the last few years are enjoying higher sales numbers – some reps view this as an opportunity to sell while their value is high, while others become less interested in moving. In either case, this creates a fight for talent amongst companies and requires the hirer to be creative and aggressive about acquiring new sales talent.

3) How is this affecting compensation?
Compensation is definitely rising. The most attractive reps won’t want to leave a pipeline that they fought hard to build unless there is a good financial reward to mitigate the risk and if the rep has multiple employers chasing them, they have the leverage. We aren’t seeing many moves where the compensation is equal. While not all great reps are money motivated, they realize it is a sellers market and expect some kind of a boost in compensation package to justify the move. Companies that aren’t prepared to play into the sellers market theory tend to get the left over reps who aren’t likely to deliver the necessary sales results or be worth the investment.

1. Know the ground rules: You didn’t start your business on a whim, and applying for a loan is no different. You need to do your homework to make sure you understand all the ins and outs of the loan approval process. Knowing what information the lender will be asking for – such as a well thought out business plan that specifically addresses the amount of funding you will need, how the funds will be used and how soon you intend to pay the loan off – is critical for establishing yourself as a credible loan candidate.

2. Polish your personal credit rating: While your business is new, your own personal credit history can be a determining factor for business loan qualification. Because improving your personal credit score takes time, you need to become proactive in this area before applying for a new business loan. First off, you need to obtain a credit history from a legitimate source, such as Annual Credit Report. For other reputable credit report sources, consult a qualified accountant. Once you’ve obtained the report, look it over to make sure there are no errors or omissions, and then go to work to improve your score by paying down excess credit card balances and limiting future charges. If you’re carrying high rate cards in your wallet then you’ll want to focus on paying those down first. You’ll also want to contact the creditor to see if you can establish a lower rate to help pay the card down faster. Once a card is paid off, avoid using it, but do not close the account, as this will have a negative effect on your credit rating.

3. Start establishing business credit: The sooner you can start establishing a positive credit history specific to your business the better. As most banks require businesses to be up and running at least 18 months before they will issue a business credit card, there are other ways to begin the process. One way is to establish a “business only” bank account to run all your business purchases through. If you need to make a large purchase, such as buying a car, you can help to establish a business track record by buying the car with personal credit and then making all the payments through the business account. Another strategy is to designate one of your current credit cards for business purchases only, making sure to consistently pay off the balance on time. Purchasing office equipment and supplies from companies such as Staples and Office Depot, which are now working with small business owners by offering small lines of credit, is also an effective and relatively easy way to start establishing business credit.

4. Research the pool of potential lenders: Before contacting any lending institution, do all you can to determine which lender is best suited to your needs. Contacting other successful business owners in parallel or complimentary industries and asking them for lender leads can improve your chances of finding a more willing lender, because they may have a positive track record of loaning money to businesses closely related to yours. Local banks are a good place to start, as they can be more objective and motivated to loan money to small businesses in the community. Be aware that many lenders who currently fund small business loans, especially loans less than $100,000.00, now use a standardized automated credit scoring system, making the loan process impersonal and subjective.

5. Consider online lending options: With today’s technology, borrowing for your business no longer has to be all about the “brick and mortar” lending institution. By exercising caution in your search, the web can lead you to reputable companies set up to either loan money directly or match business owners with prospective lenders that best suit their unique financial needs. When choosing an online loan company, try to avoid those that offer secured loans. While these loans are often easier to qualify for, they frequently come with higher interest rates and require business equity and assets for collateral, meaning that defaulting on the loan could cause you to lose your business.

6. Determine a realistic loan amount: If and when the need for a small business loan arises, be realistic in determining how much money is needed as opposed to how much is wanted. With advances in technology, the ability to hire online help and take care of other aspects of business “virtually” can be an effective tool for keeping funding expectations more conservative and improving the chances of obtaining a small business loan.

If you want to write a teaser for your company, here are some things you may want to include:

• Short (approximately 100-word) description of your business – for instance, what you sell and to whom – without revealing your company name.
• Basic financial highlights of the past year, including top-line revenue, growth rate and profit margin.
• Customer retention rate or satisfaction statistics.
• Your moat: What differentiates your business from its competitors.
• Brand-name customers who do business with you.
• Summary of the market size.

Promote Your Team – One of my favorite ways to deliver value is to surround myself with a team of best of class providers that can produce every result that my clients might need and then play a role in promoting that team to help meet their needs. There’s no question that this mindset makes your more valuable to your clients, but it also makes you more valuable to your team members. (Here’s a nice example of someone promoting their team – Superheroes In Your Back Pocket)

Goal Achievement – This is something I’ve always promoted and I think it’s actually become easier in this more social personal business world we now live in. If you can find logical ways to get your clients to reveal their goals and then go to work on ways, even if seemingly unrelated to your business, to help them reach those goals, you’ll add value in ways that will be hard for competitors to understand. Few things breed loyal bonds like being there to help another face a challenge. This approach requires the ability to earn and build trust beyond the traditional business relationship, but if it’s done authentically it can be hard to replicate. The first step might be to create a way to measure the impact your business has right now for your existing clients.

Teach and Loan – I’ve always been a big advocate of teaching your customers how to do things they want to know how to do, no matter what it is. If you as a business owner have mastered a skill, even if it’s just a better way to get your taxes done, you can add massive value to your client relationships by loaning your expertise, skills and knowledge or setting up classes to teach other business owners how to do the same. This is also a great way to build a platform for your strategic team members by offering them the opportunity to teach and connect. Become a school and watch your value soar.

Filter and Aggregate – There is so much out there that is free to use, abuse and consume, that some may wonder how they can actually charge for much of what they offer. The key is the package. Organizations that understand how to deliver information and services in the right amount, order, device, and timing provide so much value that they can actually charge a premium for content by simply putting it in the right place or pulling the ten nuggets from the rather large pile of free. Every customer, consumer or business, needs better information, no matter what you sell.

Provide Access – Building a business today means building a community. You can do this through membership offering and training that are proven ways to extend a product line and offer more value, but you can also do this by giving your customers an opportunity to come together. More often than not they have the some challenges and backgrounds and may even be in the same industry and your business could be the perfect platform to facilitate a mutually beneficial network. Some organizations have found this idea can become a central element of their offering.

1. Tax incentives

There are a variety of tax incentives for new small and medium-sized businesses. These include research and development tax relief and a number of capital allowance schemes to encourage investment in particular assets or by particular types of businesses, as well as direct investment incentives which encourage direct investment in qualifying companies.

2. Internet continues to grow 

The popularity of social media and the growth of eCommerce is making many businesses more profitable by pushing their online presence and by trying to push online transactions. Viral campaigns are increasingly popular and innovations in social media have made getting your companies’ message across even easier. Bootstrapping start-ups in particular should embrace this digital era and start implementing innovative digital ideas to make themselves stand out from the crowd.

3. Monetary incentives

New businesses boost the economy, so it only makes sense for the government in turn to make life easier for start-ups. More information can be found on grants and other support on the Business Link website. 

4. Untapped markets

One of the key things about starting your own company is untapped markets, and with advances in technology, particularly with regards to the internet, more opportunities arise. Consumers will always have an unmet need, and it’s up to you to push innovation and create a product or service that takes 2011 by storm.

5. Volatile job market

Despite the government’s best efforts, unemployment remains stubbornly high in the UK. However, if you’re unemployed then it’s an opportunity put your entrepreneurial mind to the test; you could even tap into a new market and start a trend. Moreover, when you need staff for your enterprise you’ll be recruiting from a pool of available talent much broader and deeper than during the boom years.

6. Cut the commute

Although many small firms look to work in offices, a significant portion of entrepreneurs will to run operations from home as it greatly reduces costs in the early stages of a venture. And they need not contend with the long commute, either on increasingly crowded trains or on, well, increasingly crowded roads.

7. Abundance of resources

There is plentiful information out there to support aspiring entrepreneurs [for example Wisteria Formations, which helps with company registration]. You can access these resources through a variety of mediums, from books to the internet. Many entrepreneurs record their business start-up experiences on blogs and many companies provide webinars and online conferences.

1. It’s about quality, not quantity. Yes, it’s a cliché but it couldn’t be more appropriate when it comes to social media.  Is it better to cast a wide net, or be selective?  Too many initiatives or poorly directed efforts can quickly alienate and confuse your audience.  If your marketing is worth its salt, it’ll deliver results, without offending or browbeating.  If not, at best you’ll be irritating and at worst, you’ll be ignored.
2. To ad or not to ad. The choices are many; however, good choices are few.  Should you buy Facebook or Google ads?  Should you add advertising to your own website?  The answer to this can only come from you.  Take a hard look at your objectives and business plan.  Are you trying to sell a big-ticket item or service?  Do you need to target customers in a particular vertical?  Do you have the personnel and infrastructure in place to handle the response ?   Examine what your business needs to accomplish and then start small.  You can always ‘upgrade’ later.
3. Deliver. If your brand’s social media marketing is done well, the work that’s done for clients and customers needs to have the same level of quality.  Nothing is more disappointing for a customer than biting the marketing bait and being interested in what appears to be a qualified business, only to find out that the business cannot deliver on the promises made through their marketing.
4. Stick with what works, ditch what doesn’t. If your company has engaged a ‘big deal expert’ to provide you with marketing guidance and the efforts are not producing results, move on.  Experts aren’t always right.  Conversely, if your social media marketing strategy is working and someone tries to convince you to abandon it, stick to your guns — and your strategy.
5. Measure twice, cut once. Be sure to measure your marketing efforts and results.  When you get a positive response, you’ll be able to pinpoint which marketing activities are paying off and which need additional attention.
6. Treat social media marketing like dollar-cost averaging. You can’t expect to get outstanding results with your first efforts (in fact, don’t expect that at all) – it’s nice if it happens, but it’s rare. It’s important to invest a steady, consistent effort and be patient with your marketing.

Tip #1: Get present. A good first step is simply focusing on the breath. It’s the most fundamental means of finding yourself amidst everyone else. Instead of worrying about how you’re being perceived, practice deep abdominal breathing, the most essential bodily activity. Then, stretch and loosen up to let go of unnecessary physical and mental tension.

Tip #2: Play. What we think of as “natural” or “ourselves” is really a series of habits. We can find a new range of expression by playing. Have fun! Alter your voice, your facial expressions, etc. This can break us out of our habitual expression and constriction, and help us take ourselves less seriously – a good step forward.

Tip #3: Don’t try to look good. The more you try to make a good impression, the worse you’ll actually do. Let go, relax and speak with much less effort. You’ll be surprised how much less stressful it feels, and how much better you’ll be received.

Tip #4: Focus on who you’re communicating with – and let your own work arise in conversation. Regardless of whether it’s an audience or an individual, really listen. Even if they don’t express anything deep back, look for hints about how their work is either important to them or an important service in the world, and engage them about it.

Tip #5: Frame what you do engagingly and in terms of how you help people. If you just say, “I’m a CPA,” they’ll put you in a nice box and psychologically move onto the next person. However, if you say something more along the lines of, “I’m a CPA who works with small businesspeople and helps them save money,” it gets them thinking. (No, that’s not a stunning example, but you get the idea.) Always find a way to get them to engage you and ask questions; don’t give a final answer right off the bat. But, in the end, communicate both what you love and how people have benefited – and let them realize on their own what they’d gain from working with you. Caveat: be wary of “elevator pitch formulas” that sound good in theory but forced when they come out of your mouth. Find what works for you.

Tip #5: More than anything, connect. It’s far better to make a handful of great connections than superficial talk with two dozen people you forget. Enjoy just meeting people! They’ll appreciate your attention. So focus on quality connections, and don’t try to get around the room as fast as you can. Caveat: put your attention where it’s warranted. If someone doesn’t feel like a good connection (either personally or business-wise), give a “Very nice to meet you,” and move on. Use your time wisely.

Tip #6: Follow up. Immediately. As in, the next day. Write a brief note. Don’t, however, go right into the hard sell, which will turn them off and make others think you just want to make money off them, and didn’t appreciate them as people. And, if you had a great conversation, seek them out on Biznik or LinkedIn too.

Step 1: Distinguish between ‘manager’ and ‘leader’

According to Eastman, managing is different than leading. Managers control business processes and make sure things are running smoothly. Leadership, on the other hand, is about “moving the people,” he says. Since most small businesses have a small upper-level staff, it is essential for small business owners to be competent in both leading and managing.

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Step 2: Define the necessary competencies for your organization

Since every organization has a different set of needs, Eastman recommends, “Small business owners sit down and determine what competencies they need to demonstrate to be effective within their organization.”

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Step 3: Engage

Once you’ve decided what leadership competencies you’d like to work on, Eastman suggests sharing your development plan with your team. “Leadership never happens in a vacuum,” he says. “Pick one or two things per year that you want to work on. Then, your team can hold you accountable for your new behaviors and encourage you along the way.”

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Step 4: Check in

After about a year of working on the one or two leadership competencies, check back in with yourself and your team to see how you’ve progressed. “Leadership development is a lifelong pursuit; you never arrive,” Eastman says, adding that it is important to move on to additional competencies after a few have been fulfilled.

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CARE – Four steps to close the Motivation Gap

Caring dissolves the tangle of motivation gaps. When we care for someone, we appreciate the things that are important to them. We don’t necessarily agree, but awareness and understanding bring clarity to the gap between what they want and what we think we want.

How can you eliminate the gaps and show your stakeholders how much you care? Four ideas come to mind:

Care
If others aren’t important to you, eventually the truth will be known. You must begin to appreciate people. Develop a genuine appreciation for the contributions they bring. The harder this is for you, the greater your problem, not theirs. Take time every day to notice and appreciate people. Stop focusing on the goal and burn your mental energy thinking about your people. Do you know their kid’s names or their parents? We all want to be known. You can not care for someone you don’t know.

Ask
A question is an admission of a desire to know something you don’t know. So many a proud person won’t ask because they don’t want to admit they do not know. But there is no shame in learning. Focus on the result, that you will know your teammates better, and ask. People appreciate your desire to know more than they focus on what you didn’t know. (And yes, I’m still guilty of this. We’re all in process…)

Remember
Nothing shows insincerity more than asking the same question over and over again. If people are important to you, then remember it. Do you remember your golf score better than you remember your teammate’s birthdays, that’s a sign. You will remember the things that are important to you. Once you train yourself to appreciate people, it will begin to get easier but old habits die hard.

Engage
Act on what you know. Is it their birthday. Say so. Give them a card. Did they tell you their mom was ill? Put it on your calendar to ask them how she’s doing. Action proves motive and knowledge. If you don’t act on the information you have you blow the entire effort.