Silvia the coach's Weblog

Three keys to small business marketing

silviathecoach — Tue, 22 Sep 2009 17:38:48 +0000

I tell my clients, “You have no business until you have clients and the key to getting clients is marketing”. As an entrepreneur you need to focus on marketing when you are starting your business. I recommend that you focus on the areas below even before you make any big investments or worry about getting paid clients. Without the information you gather from the three keys below, you will be shooting arrows in the dark and then wonder why your great idea has gotten you nowhere.

I understand that you may feel overwhelmed when they think of marketing, but it doesn’t have to be that way. Below are three key areas for you to focus on, which will make the difference between having an expensive hobby and having a revenue generating business.

Do your homework –research your target market and the need for your product and service. Make sure you are clear about the problem you are solving and who you are solving it for. Find out who the competitors are, how long they’ve been in business, market share, etc. Then think about how you are different? How are you better? What is your unique value proposition?
Interview your target market – find the throngs of people that will love to buy what you have to offer and ask them, what they want. I would recommend doing an interview in exchange for a trial of what you have to offer. This way they can tell you what they really need and also give you feedback on your product/service. This is your opportunity to just be curious. Don’t assume you know what they want or what they will say about what you’re offering. Just be curious, you’ll get a lot more out of it this way.
Incorporate the feedback – now you are ready to take all the information you have gathered and make changes as appropriate. Whether it’s to your overall strategy, delivery mechanism, etc. you will have the information you need to successfully launch a marketing campaign to get real paying clients.

If you did one and two thoroughly, you will have people anxious to buy your product or service, or at a minimum will know where to go to find your ideal customer. Keep in mind, just because you do this when you start out, doesn’t mean that you stop there. Marketing will be a natural part of your business moving forward, and building up that muscle is really important to your success.

The number one skill entrepreneurs need

silviathecoach — Thu, 10 Sep 2009 21:20:19 +0000

Would you like to know the number one skill for entrepreneurs? Well it’s the same one that all CEO’s need – to understand the company P&L and Balance Sheet. Right about now some of you may be grumbling. Some may even be thinking that you are no good with numbers and that your dreams of being an entrepreneur are crushed. I ask that you not be so mellow dramatic and if you are freaking out, check out my blog on how to deal with your inner critic then come back to this one.

The truth is you need to understand the numbers whether you plan on keeping your business at six figures or grow it to eight figures and beyond. In fact understanding the numbers is a key strategy employed by GE in its leadership academy. And you all know that there have been more CEO’s to come from GE than some of the top business schools combined! The numbers help you to fully understand and therefore influence things like, your margins, business cycle, purchasing trends, overall sales, expenditures and so on. In essence it gives you full control over your companies and therefore your own success.

So what’s the first step to understanding the numbers, if you are numbers challenged? Rest assured you do not have to go back and get your MBA. In fact the easiest way is to start by pulling out the spreadsheet or Quickbooks report and look at the basics, profit and loss. Look at where all the money comes from, when it comes in and where it all goes. If you are really intimidated enlist the help of your CPA or bookkeeper, they love numbers. Ultimately, you need to grow comfortable looking at, working with and understanding those numbers – regardless of their size.

It’s time to face the numbers. Go, pull those reports and start studying!

How to save tens of thousands in your business

silviathecoach — Mon, 31 Aug 2009 23:56:21 +0000

How to save tens of thousands in your business

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The secret formula to becoming a successful entrepreneur

silviathecoach — Wed, 26 Aug 2009 17:30:55 +0000

The secret formula to becoming a successful entrepreneur

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Want to Escape High Tech?

silviathecoach — Tue, 25 Aug 2009 01:15:59 +0000

http://www.escapehightech.com was created to help high tech professionals breakout of their corporate prison! Sign-up for the Free Video Series “Making Money Outside High Tech!”