This summer, I have found that persuasion and influence are key in any business relationship.  In the consumer world, companies often offer some sort of perk or promotion to encourage potential customers. The Apple ipod hook is a good case in point: when students buy a new laptop for school, they receive a “free” ipod.  

In his book titled “Influence: Science and Practice”, Robert Cialdini suggests the best way to get consumers to buy a product is to first offer a promotional gift and then sell the product rather than the other way around.  When a consumer receives such a gift, even as small as a pen or notepad, they feel a sense of obligation to buy the product, even if they dislike the company.  How could this strategy help you to gain more customers?  What small product could you give away to your future customers?  

-Katrina

I had an interesting coaching session with a client last week.  Her business is growing and needed some significant changes to achieve the goals she had set.  In the last 5 weeks she has:

• Hired new sales staff
• Put together a new sales training program
• Created new job descriptions and accountability for existing staff
• Installed a new CRM program
• Hired a company to revamp your e-commerce website
• Set very clear goals on what she wants to accomplish with this company.

As a student returning to school next week, beginning to juggle classes, homework and work, I know that there may be stressful times on the horizon.  In the August edition of Entrepreneur Magazine, there is a great article that gives insight into good stress versus bad stress.  Most people only understand stress as an inhibitor that causes insomnia, depression and increases blood pressure; the results in business are ineffective management and lower productivity.

An entrepreneur can turn this stress into an asset that fuels creativity and spurs ideas.  Focus on the cause, not the outcome, to establish a simple system to address the issue and move on.  Let the initial rush of adrenaline that often marks a situation as stressful be the cue to respond quickly and think clearly.  

-Katrina 

I love this quote.  It is good reminder to all of us, whether self-employed or working for someone else, that we all do need to know how to sell.  Even if your job is not a sales job, you still need to sell.  You work in accounting?  YES, you still need to sell.  You need to sell your boss on that promotion or salary raise you want; you need to sell your clients that you are competent and can do what they need done.  And you need to educate your clients on other services you provide, so they don’t go to your competition because “they didn’t know you did that.”

There is no escaping sales!  If you want to thrive, especially in today’s economy, sharpen up your sales skills. It will pay off more than you realize.

As a young entrepreneur, I am constantly studying other entrepreneurs’ business tactics and strategies.  As the saying goes, the bricklayer never gets around to finishing his chimney and the seamstress rarely sews for herself.  Many people in business don’t take personal advantage of their own expertise. 

 Whether it’s managing, organizing, arranging, consulting or selling – customers or clients may glimpse the entrepreneur’s personal life and see a disconnect.  Most of us are aware of this and I believe it is a big source of stress.  That nagging feeling of “I’ll get around to it,” is an unnecessary burden to carry through the day. 

For the rest of the week, treat yourself like your own client, take the advice and wisdom that you give others - finish laying the bricks on your chimney or complete your unsewn dress.  

-Katrina

Too many times I hear women entrepreneurs give out excuses as to why their business is not doing well.  Case in point - I was chatting with one on Friday and asked her how business is going.  She is still in her first year.  Her reply was -  ”Not well.  I did a big project 2 months ago and they haven’t paid their invoice yet.  This really has discouraged me.”   And then she went on to say how she hasn’t been motivated to look for any new business.  Excuse me??

Building a successful busines is really tough.  Ask any profitable business owner and they will likely tell you they worked harder than they ever had before in their life to get that success.  Making excuses like the woman above only slows you down and gets in your own way.  Things don’t always go smoothly, clients don’t pay on time, you don’t land the contracts you want.  So what?  You can choose to wallow in disappointment or you can get right back at it and go after the next prospect on your list. 

So, if you find yourself on this sunny Monday, making excuses for things you are not happy with in your business - STOP!  Take some action to fix things.

My favourite blog post of this week has to be this article - Running on Fumes .

For all of you women out there who are driving yourself to exhaustion, pay special attention to points #2 and #5!

Life is about enjoyment, not about how much you can accomplish.

I was in LA recently and while there, decided to visit some businesses and see what the customer service experience was like. And here’s what I experienced:
- Ralph’s: Bought a sandwich there, sporting a large sticker saying “Made Fresh in Our Kitchen”. I unwrapped it and then checked the expiry date on the sandwich - 2 days away. The lettuce in that sandwich had transformed into a new, inedible life form. Impressions of Ralph’s: thumbs down - will never buy anything from them again.
- Bloomingdale’s: Beautiful store, great merchandise. However, when I went to make a purchase acted like they were doing me a big favour. Looked totally bored. Impressions of Bloomingdale’s: Not in a rush to go back.
- Target: Passed by the cosmetic section and the sales rep for Boots Cosmetics was there. What awesome customer experience! She was very passionate about her product, extremely knowledgeable, easy to talk to - a fun encounter. I walked away with several products that I had no intention of purchasing when I walked into the store. Impressions of Target: Loved it and will definitely go back.
- It’s a Grind Coffee Shop - was in one at Redondo Beach. Half the parking lot was under construction so business was way down. The owner was in great spirits anyway - great coffee and excellent customer service. He handled all the grumbling about lack of parking pleasantly and handed out freebies to the kids when they walked in with flustered parents. Impressions of It’s A Grind: Two thumbs up - loved the coffee and the service. It’s my favourite coffee hangout in LA now.
JetBlue: My first time flying them. The plane was clean, the seats were comfortable with lots of leg room and the crew had fun with passengers. It was a great experience. Impressions of JetBlue: Thumbs up. They deliver a great customer service experience - a rare thing in the aviation industry today.

As business owners, we often get bogged down in getting the ‘work done’. Make sure you take the time to check out your customer service - are you sure your customers are happy and impressed with your company? You need to check this out on a regular basis. Hire a mystery shopper, get a friend to pose as a customer or talk to your exisitng customers. Find out what they like, what they don’t and how you can improve. Then - take action.

I have a wonderful young woman in business working with me this summer, Katrina Thompson, and I have asked her to contribute to the blog from the perspective of a young woman in business. She will be appearing in this space every Wednesday.

As a summer student and new entrepreneur, I have learned that the business of the real world is very different from business in the classroom.

One of the most important factors that helps me keep focus is having a mentor and a tight support group. A mentor should be someone who has gone before you and been successful in their own ways. Ask your mentor as many questions as you can!

Being an entrepreneur forces you to create your own boundaries. Boundaries are so important in an entrepreneur’s world because your clients will take advantage of you if you do not clearly establish your terms at the beginning of the contract.

Business resources are everywhere. There are numerous websites that provide free information for starting a business. The Small Business BC website offers market research, helpful guides, and a research library. The Small Business Publications website provides information and statistics related to business in BC, including how to prepare a business plan. Knowing what you want to do in business, having a market and being able to access that market are three keys to success. Working with a mentor can smooth out the transitions and help you avoid the rabbit trails to success.

My latest column in Make It Business is out. I went “shopping” on the internet, looking for new products that would help business owners improve their profitability and turned up two interesting products - Billing Boss by Sage Software and SalesConx - a marketplace for business introductions and leads. Read the whole article here.