FM Walsh & Associates Inc.

Are You Kidding Me?

Friends of ours were shopping for a new car last weekend – good news in these economic times right?  People who want to buy a brand new car for cash.  So off they go to the Mercedes Benz dealer at Richmond Auto Mall.

Where they wander around the lot for 30 minutes looking at various cars and NO ONE from the dealership comes out to talk to them.  They were completely ignored.  So then they wandered off to Audi, where they got some service.  Interesting times in the car world.

Who Is Your TARGET?

As I wrote about last week, some friends and I started a 5 week business venture advertising campaign.  One of the first decisions we made together was deciding upon our target market.  As the advertising was going out to new university students and families in Victoria, we decided our target market would be grocery stores, recreation centers, local restaurants, and malls.  Breaking our target market into these four categories was very useful as there are 4 people in our business, each person would be tackle one category.  In order to better serve our target market, we studied their ideal customer – figuring out the average income, age, number of people in the household, purchasing power, and hobbies or leisure activities.  With so much information in our back pocket regarding our target market’s ideal customer, we were better able to answer questions and offer information.  Here is an article from Entrepreneur Magazine that discusses different target markets and how to appraoch them.

Cold Call in Person vs. on the Phone

As some friends and I have recently started a five week bsuiness venture advertising campaign, we decided that cold calling would be the most effective means to find advertisers.  After being hung up on and being told ‘no’ countless times over the phone, I decided to physically go into businesses and present my sales pitch – and this change has made a world of difference!  Because going into businesses in person is much more time consuming, I’ve really had to narrow in on which businesses will be more likely to advertise with our company.  I can’t exactly pin point why physically going into businesses has been more successful – maybe because it is harder for businesses to say ‘no’ in person, or we can have a more ‘human’ conversation in person where I can bargain and the advertiser can ask more questions, or maybe because it looks like I’ve put more ‘effort’ into making the trip.  I found this interesting blog article about cold calling in person versus on the phone that helps to answer some questions.  Which type of cold calling have you found to work in your business?

Are You Kidding Me?

Woke up on Saturday morning and the oven wasn’t working.  We had dinner guests coming so we needed a solution.  The oven (Kenmore) is relatively new, so I phone the Sears appliance repair line to get it fixed.  Only to be told the EARLIEST they can send out a repair person is 21 days from now.  (I am not kidding.)  Not 21 hours, 21 DAYS.  Note to self:  don’t buy any more appliances from Sears.

OK – onto Plan B.  Phoned 3 appliance repair services that promised 24 hour service, left a message and am still waiting to hear back from them 4 days later.  The fourth phone call got us a lovely man who runs a small repair service, who responded within the hour and fixed the stove.

There’s a recession on, right?

Some Deadly Sins of Marketing Seminar Notes

Here are the notes from my presentation at the Enterprising Moms Network conference on June 13th as promised.  Many thanks to Kelley and her team for organizing another fantastic event!

1.  Not having a marketing plan to follow – it has to be written down with timelines.

2.  Trying a little bit of every marketing tool out there – pick three.

3.  Advertising once in a publication

4. Not understanding the life cycles of your product or service – know when people buy so you can maximize your marketing impact.

5. Assuming the same thing will work forever.  Keep an eye on trends and capitalize on changes in the marketplace.

6.  Trying to market the same message to everyone.  Pick your niche markets and message accordingly.  Be very clear on your USP.

7.  Not understanding the power of word of mouth marketing and how to manage it.

8.  Thinking that marketing is sales, rather than education.

Do you struggle with Procrastination?

Is procrastination part of your day?  Do you keep backing yourself into corners leaving stuff till the last minute?  Then check out my latest article at SheTeam – Get Rid of Your P Habit - for some pointers on how to stop procrastinating.

Looking for Entrepreneurial Inspiration?

Then join us at the Enterprising Moms Network conference this Saturday, June 13.

I will be speaking on the Deadly Sins of Marketing, plus we will be giving away free business coaching sessions, so drop by our booth.

And the best part?  There is no registration fee – just make a donation to Ronald McDonald House at the door.  It’s your chance to do good and make some great business connections.

For more information, click here.

Hope to see you there.

Are You Kidding Me?

I was at a networking event yesterday and a business owner said to me: “I don’t believe in selling my product.  If people like it, then they’ll buy it.”   Really?  Are you kidding me?

When you open a business, you HAVE to sell.  No exceptions.  So learn to sell effectively.  Read books, take courses, listen to DVD’s, hire a coach.  Do whatever it takes to get you comfortable selling.

The law of the business jungle is simple.  Sell or go out of business.

Friday afternoon musing

I have finally realized that my to-do list will never be done at the end of the day when it has 30 items on it.  So I have put myself on a daily to-do list reduction plan.  I can only have 5 items on the list for any one day.  I feel lighter and I go home at the end of the day feeling like I have accomplished the important stuff, instead of focusing on all the undone stuff.

Summer is here – time to lighten up, people.  Stop working in the evening – go out and enjoy the weather.  Have fun with family and friends, garden, walk or bike, read a book or just stop and think.

The rest of the to-do list can wait.

Two young entrepreneurs explain how they took the business risk – and made it

In the latest Make It Business Magazine, the theme is young entrepreneurs.  In my column, I interview 2 young entrepreneurs – Annika Panzini and Annette Blenkam.  These two entrepreneurs explain why they decided to go into business for themselves, the toughest lessons they have learned along the way, and what has contributed to their success.  Read the latest Make It Business edition here.