FM Walsh & Associates Inc.

This article originally appeared in The Office Journal earlier this month. I was inspired to write it following innumerable frustrating buyer experiences.

Sales Pitch: A car dealership for women? It’s about time.
I visited a new car dealership recently called Clutch – not because I was looking for a car, but because I was looking for an experience. One of the most important parts of running my business is keeping on top of trends and Clutch is looking to capitalize on a big one: the female consumer.

The brainchild of co-owners Mike Wood and Karen Jamison, Clutch is out to change women’s experiences when it comes to buying a car. And it’s about time; women purchase at least 60 percent of the new cars sold today. Recognizing the power of the purse and the fact that nearly every woman has a horror story about her experiences buying a car, the mandate at Clutch is, “We have a better way to sell you a car and a way you’ll actually enjoy.”

I wanted to see if they could deliver on that promise. My experience buying a car last year left me cold. The salesmen were pushy and rarely welcomed my questions. They spent a lot of time talking to my husband even though I was the buyer.

The first thing that struck me when I walked into Clutch were the stunning floral arrangements; those, plus the modern lighting, music, Italian tile floors and beautiful furniture, made it seem comfortable and welcoming. There was none of that feeling of walking into a pool of piranhas that I usually get when I enter a typical car dealership.

Clutch recognizes the buying power of women in today’s economy. More than 80 percent of consumer-spending decisions are made by women; they decide how the money is spent for the majority of households in North America. And we’re not just talking about household items like clothing or groceries. Those big-ticket items like electronics and cars? Women are buying most of them.

Surprised? Best Buy certainly was, when its in-store study uncovered that while men were the majority of shoppers in its stores, most purchases were made by women. Men visited the store more often to browse the newest gadgets, but when women came into a store, they had done their homework and made a purchase.

Selling to women has a different set of rules than selling to men. There are real differences between the sexes in the way they communicate, react, listen, shop, and make decisions. Women put a lot of emphasis on building relationships and information-gathering. So given the size of this market, what are businesses doing differently to catch the eye and ear of women?

Clutch has done its homework and offers strategies on how to catch the attention and the wallets of women.

1. Pay attention to your environment. Women want a pleasurable shopping experience. If you’re successful at creating a clean, warm ambiance, you will be more successful at drawing women to your business.

2. Realize women buy with their head. Women look to make educated decisions before they buy. They ask a lot of questions to gather information; women buy on the details, rather than just price, as most people assume.

3. Recognize relationships are valuable currency. Women value relationships; they will trust you if they feel your business is focused on building a long-term relationship, rather than just making a sale. Not only will you get their money, but women use word-of-mouth referrals far more than men. Eighty-five percent of business at Clutch comes from referrals.

4. Don’t push to make the sale. Women will see that tactic and write you off. A woman will buy once she is satisfied she is making the best decision. Answer all her questions, listen carefully to what she is saying, show respect and follow-up – all these are more effective for closing a sale.

Is your business focused on how to sell effectively to women? Are you doing everything within your power to tap into this lucrative market? I tell my clients that by paying attention to these details they will attract more customers – male and female. Everyone likes great service. The payoff to businesses who give it? More repeat business and a stronger bottom line.

Growing your business is a challenge and sometimes the responsibilities and decisions that need to be made can seem overwhelming. The following article is written by an incredible life coach I know named Willie Carter; she really helps put issues into perspective and gives a tried and tested strategy for dealing with issues that arise.

NOTICE WHAT YOU NOTICE - GROWING PAINS

“Business is great! But I can’t keep up. I need more staff, but………
…..the cash flow won’t support it,
…..I don’t have time to recruit and train someone,
…..I’m overwhelmed! I don’t even know where to start!”

Any of these sound familiar? I remember my dad going through this phase with our family lumberyard. He had just built a new showroom and office. Things looked really good. He had accomplished all of this with the help of just one other full time staff person and very occasional part time help. Built the structures by himself while also running the retail side of business. My dad solved the problem by recruiting the help of his many children, nieces and nephews. Mutually beneficial for all concerned.
Read more

I was giving a seminar - The 10 Deadly Sins of Business Development - recently to a group of business owners and it struck me once again, how many people I meet who operate their business without a plan. They get up and go into work every day; they work hard; the end of the day comes and they feel like they have made no progress. They want their businesses to grow, to be more profitable, to get more customers but there is no strategic plan in place for how they are going to make this happen. Give your heads a shake, people! That is like me telling you to get in your car tomorrow and start driving to Chicago but not allowing you to use a map. Would you get there? Maybe - but it is a sure bet you would waste a lot of gas, time and energy figuring it out.

Having your business development plan in your head is not a recipe for success. So grab a pen and some paper. Turn off the phone; find a quiet spot and write down your plan. What kind of sales do you want to make? How many new customers do you want to find? What new products do you want to introduce? What new markets do you want to enter? Set down what you will accomplish and how you are going to make it happen. I am not talking about a full business plan here - just a page or two that is your roadmap for business growth. Then pull out your calendar and write down when you are going to get these things done. Do not let your business growth get lost in the day-to-day running of the business.

And finally, pull out your plan on a regular basis and check your progress. Whether it is monthly or quarterly, make sure you are measuring what is working well and what needs to be changed. This will keep you miles ahead of your competition.