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For women who own or aspire to own their own businesses

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Change One Thing To Make Business Networking Pay Off

Despite all of the ways we are able to connect with potential customers and vendors online, face-to-face business networking continues to be an important part of growing a small business. Problem is – few of us are born networkers.

I’m an extrovert. I have spent enough years in media, marketing and public relations to get pretty good at striking up conversations with strangers, but I know it doesn’t come easily for everyone.

Having worked at a chamber of commerce for several years, I have seen some awkward attempts at business networking. And I understand why. No one really ever trains you for business networking. You are just expected to show up to an event and know what you’re doing.

The Typical Business Networking ExperienceBusiness Networking

Let me paint the picture of a stereotypical business networking experience.

You walk into a room full of strangers and you do what you think you are supposed to do.  You pass out your business cards, deliver your elevator speech, move on to the next person or group of people and repeat the process.

My friend, you are guilty of drive-by networking.

What do I mean by that? Put yourself in the shoes of the person on the receiving end. Here’s how that might sound to them.

“Hi, I’m Michelle. I have no idea who you are or what you do, but let me tell you how great I am and why you should do business with me.”

I’ve seen it happen over and over again. It’s ineffective and honestly, annoying. Who wants to be on the receiving end of that?

The problem with this method of business networking is that it focuses too much on the quantity of contacts rather than the quality of contacts.  Sure, you may walk out of a networking event with a stack of business cards, but you were likely unsuccessful at making any true personal connections. Also, you possibly guaranteed that some of those folks are going to avoid you the next time you enter the room.

My First Business Networking Fail

Let me tell you about my first time trying to promote my business at a networking event. Boy, it fell flat.

I walked into a meeting of a local public relations group. It was my first event as a new member. I was still working for another company, but was looking forward to networking with this group to try to grow my freelance business.  I marched up to someone and introduced myself.

“I’m Michelle West, I work at company z and I also do freelance writing.”

The person on the receiving end of that looked at me, grimaced, and said, “Yeah, I do too,” and walked away.

I was horrified.  As a result, it took me a long time to get up the courage to just walk up to someone and introduce myself again.

Here’s what’s so strange about that scenario. I had been successfully networking for years while working jobs for other people. But things got weird when I tried to promote myself. It’s like the wheels came off my networking bus. I was nervous and awkward.

Also, I forgot the cardinal rule of business networking. It’s not about selling. It’s about building long-term business relationships. Good business relationships are just that—relationships.  They cannot be forced and they are rarely developed through a rapid-fire, drive-by networking style.

Change Your Business Networking Mindset

So, instead of promoting yourself, consider trying a different approach called Positive Networking®.

The term has been trademarked by Shepa Learning Company. The strategy turns the tables on the “promote your business” method of networking, and it yields better long-term results.Change One Thing To Make Business Networking Pay Off

As an added bonus, it takes the pressure of you to sell yourself and makes business networking a lot more enjoyable. Consequently, the more enjoyable it is, the more you will do it. The more you do it, the more your business will grow.

What is Positive Networking®?

It represents a shift in attitude.  Networking is no longer about you, it’s about the people that you meet.

So, instead of going into a networking situation with the goal of selling your business, you approach your new contacts with the intent of discovering what you may be able to do for them.

Ask questions. Get to know them. And think about how you might be able to help them grow their businesses.

Perhaps you can connect them with a resource or someone within your network that might be a potential customer or vendor for them.

You may be wondering how this is going to benefit me?

It’s simple.  People do business with people, not businesses.  And they are more likely to do business with someone they know and trust. If you approach networking from the standpoint of starting a relationship instead of closing a sale, you’ll begin developing that level of trust.

Also, it makes striking up a conversation at a business networking event so much easier. You no longer have the pressure of figuring out where in the conversation you should start reciting your elevator speech.  You are just getting to know a new friend.

Network Like You Know How

Business networking done right is not able generating sales leads. It’s about building a circle of friends for your business.

Also, the reality is, very few people that you meet at business networking events will ever become your customers. Their true value is in their potential to refer you business. And, they are more likely to do that if they feel they know you and trust you.

It’s a marathon, not a sprint.

So get yourself to a business networking event ASAP. Practice your new skill and start building a circle of friends for your business. Network like you know how. Because now you do!

 

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Why You Should Love What You Do

Forget about the fast lane. If you really want to fly, harness your power to your passion. Honor your calling. Everybody has one. Trust your heart, and success will come to you – Oprah

Guess what. To do something well, you have to like it. In fact, it might even help if you LOVE it. If you are a business owner, service provider, or solo-prenuer, or maybe even just thinking about starting your own business, let me ask, do you love what you do?

It’s crucial that you enjoy, and yes – even LOVE, what you’re doing if you want your business to succeed. Doubt me? Entrepreneur.com reports that if you don’t enjoy what you’re doing, in all likelihood that will be reflected in the success of your business–or subsequent lack of success. In fact, if you don’t enjoy what you’re doing, chances are you won’t succeed.

I’ve been walking this road for a number of years and understand what it takes to build a business that has purpose, that is fulfilling, and yes, that pays the bills. We all want that don’t we? The opportunity to create a livelihood doing something that we love? The opportunity to work for ourselves?

If you are running (or preparing to run) a small business, there’s one thing you need to know straight out of the gate – you HAVE to be completely dedicated to your business, day and night, regardless of the circumstances. You have to be thinking about it, working at it, looking for opportunities, and be responsible for it, nonstop.

That’s why it’s important to make sure that you love what you’re doing, and to feel motivated to push through to the next level. Building – and sustaining – a small business takes a lot of work, and while it can provide a comfortable income, the responsibility of that business, the planning, the hoping, and the dreaming will be on your mind, if not all, then definitely most of the time. So, if your business is ultimately something that you are going to be focused on full time, shouldn’t it be exciting?

There is one question that you can ask yourself that will determine if your business is a good fit – would you do it for free?

Now let me say right now that there is no way any of you should work for free – EVER. The question really boils down to, do you love it so much that you often think, “I can’t believe I’m getting paid for this?” Are you so passionate about what it represents that you have honed your skills, for little or nothing? Have you practiced with purpose?

I love what I do. Period. And each and every client that I help reach their marketing objectives provides one of those, “I can’t believe I get paid to do this” moments. And each and every client I help learn how to market their own business provides the same rush when they “get it” and are on their way.

Mother Teresa said that, “Work without love is slavery.” You want your business to succeed, right? So, this week, before you do one more thing related to your business, take some time to determine if you really, truly, love what you do, and grow from there.

 

Payroll Outsourcing: Does It Make Sense For Your Business?

Hiring employees can help your business grow, but it also makes your job more complicated. Take payroll for example. It’s a headache that recurs before every payday. Payroll outsourcing may relieve some of that pain.

Processing payroll internally takes time and resources. Also, it’s easy to make mistakes. Statistics from the Internal Revenue Service show that approximately 40% of small businesses incur penalties for failure to comply with payroll requirements. Total fines paid by businesses are in the billions of dollars. That’s money that could be better spent.

Payroll outsourcing can keep you on the right side of compliance. And, it’s really not that expensive when you consider the time and worry it can save you.

How Payroll Outsourcing Works

In general, payroll companies take care of payroll administration for their clients. If you’ve been doing it yourself, you know it is a much bigger job than just issuing checks.Outsourcing payroll

A payroll company handles all of the details to get employees paid. This typically includes check processing, direct deposit, W-2 and 1099 processing. They may also help manage employee benefits and other HR functions. But, where a business may find the most value in outsourcing payroll is in tax administration services.

Tax administration is an important part of the payroll process that many small business owners find difficult to manage on their own.

There are monthly, quarterly and annual deadlines for payment and reporting. Keeping track of those while you are trying to run a business can be overwhelming.  Also, regulations change on a frequent basis. It all makes a great case for payroll outsourcing.

Payroll Outsourcing Pricing

Pricing varies depending on the size of your business and the services that you need. It’s common for services to charge a flat monthly fee plus a per employee fee. Entrepreneur.com reports that basic payroll service pricing ranges from $.80 to $2.00 per check plus a base fee. Many companies will provide a free quote customized to your business’ needs.

So, is payroll outsourcing a good solution for your business?

If you need to focus on other areas of your business, payroll outsourcing seems like an inexpensive option.

Very few people go into business for the fun of payroll administration. By outsourcing payroll to a trusted provider, you can get back the precious resource of time. That allows you to put your energy into the areas of your business that need your attention. It also grants you peace of mind that your payroll administration is being done right.

Related: Knowing When To Outsource

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Leveraging Your Most Powerful Marketing Tool

There are countless ways to reach new customers and grow your business. From traditional advertising to social media outreach, the options get more abundant each day. But perhaps the most powerful marketing tool to grow your business is the same one that generations of business owners have used – relationships with existing customers.

Existing Customers Are Your Most Powerful Marketing Tool

Existing customers have always been the best marketers for small businesses. Their role is often referred to as “word of mouth” advertising. With the advancement of technology and growth of social media, the relationship you have with your current customers is more significant than ever before. They have become an even more powerful marketing tool for your business.

Think about it. When a customer visits your place of business and they have a good experience, what do they do? They reach for their phone to tell their friends and family about it. If they have a poor experience, you know what happens? They reach for their phones even faster.

Happy existing customers may be your best allies in helping you market your business and reach new customers. Ensuring that your customers have the best experience possible is
where you come in.

Learn names.

Try to learn the names of repeat customers. Remember their names and use their names to greet them when they return to your business. This simple act can make your returning Existing Customers Are Your Most Powerful Marketing Toolcustomers feel welcomed and create a more personalized customer experience.

Reward loyalty.

Another easy way to keep existing customers happy is through exclusive deals, discounts and giveaways. One of my favorite customer loyalty programs is through a locally-owned natural foods store that I frequent. I have a loyalty card in my wallet and every time I check out, the person at the register scans the card. For every dollar I spend, I collect loyalty points. When I’ve collected 300 points, I get five dollars off my purchase, on the spot. I love it when that happens!

Meet Their Expectations – Every Time.

Regular customers are regular customers because you have trained them to expect certain things when they show up at your business. It may be the quality of your product or service. Perhaps, it is the perceived value. Or, it may be the fun and welcoming atmosphere of your store, the friendliness of your staff, or your wide selection of products.

Whatever it is, deliver on those expectations each and every time they visit. If you don’t know why they keep coming back, just ask. Feedback from regular customers can help you continue to meet their needs and the needs of future customers.

Taking care of your existing customers will keep them coming back for more. If they really love your business, they’re going to refer more customers your way through positive online reviews and word of mouth referrals. Both are powerful marketing tools.

According to Vendasta.com, 88% of consumers trust online reviews as much as personal recommendations.

Though customer reviews often come unsolicited, it’s ok to ask for help.  Let your loyal customers know that you are trying to grow your business and ask if they’ll help you reach new customers by posting an online review, providing a testimonial, or telling their friends. Most will be more than happy to lend a hand.

 

 

Move Beyond Perfection Paralysis

Wobizzle Tips Perfection ParalysisIf you push through that feeling of being scared, that feeling of taking risk, really amazing things can happen – Marissa Mayer

We can be our own worst enemy, and when building a business many of us can fall victim to perfection paralysis. The Urban Dictionary defines perfection paralysis as, “The inability to start on a project, assignment, essay or any creative task due to the fear of not getting it perfectly right.”  Sure, we want to wait until our idea is “perfect” to share it with the world, but that is not sustainable, especially if you intend to make a living. Nothing in life, and definitely nothing in business, is ever perfect. In fact, when you continue to rework and re-do, you often move right past the perfect spot and miss the magic.

You have to move forward with your ideas. As Amy Nelson, CEO & Founder of The Riveter, says, “Entrepreneurship requires you to jump in when something is 70 percent perfect and be willing to figure out the rest as you go. The difference between “good enough” and perfect could be the difference between success and missing the boat (or making money).”

Perfection paralysis is a widespread problem, and not limited to me, you, and three other random creatives. In fact, even Mel Robbins has written that she fell into perfection paralysis when writing The 5 Second Rule. While the process was perfect in her mind, there were days that the words wouldn’t come, and it wasn’t all rainbows and sunshine.

“When you strive for perfection, you are bound to fail,” she wrote. “By calling on the good-enough principle, you are giving yourself permission to fail. It is only when the pressure of perfection has been removed that you can tap into your inner genius and do your best work.”

“Good enough” has been an important lesson in my 20+ years as a freelancer, and by embracing it, I was able to beyond hobbyist status, and actually make a living. And moving beyond perfectionism isn’t just good for your productivity, it’s also good for your health. As Health.com reports, people who have perfectionist tendencies are sometimes more than just detail-oriented high achievers. They are often racked with anxiety, depression and fear.

So, the question is, how do you move from perfection paralysis to good enough? Perfectionism paralysis is defined by the inability to start, or sometimes to keep going. To combat that, you need to make a list, set goals, and get busy. If you have to have XYZ done by next Tuesday, you have your marching orders. If XYZ doesn’t have a deadline, make one and stick to it. Make sure your goals are realistic, while at the same time, moving you forward.

Lisa Guice writes in Forbes that she approaches her work with a recover and release mindset, meaning that once she completes her work and reviews for errors and realistic value, she releases it. “Once corrections are made, move into the release stage, where you let it go and are OK with what results from it. Your realistic view of its value will be the reminder you need to draw from to free yourself from continuing to overanalyze.”

It’s also okay to make mistakes. I know I do. I recently shared a workshop script with a client that I hadn’t done a final edit on, and told her there was a prize for the first typo she found. Remember, nothing is perfect, it’s just important that it be good enough.

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