Business

Why your current employer could be you #1 Customer

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One of the biggest roadblocks for many “Want-trapreneurs” looking to launch a service based business (or any type of business for that matter) is maintaining their current income base.   It’s hard to leave the security of a guaranteed salary, health insurance, paid vacations and the almighty 401K, I get it – I’ve been there.

When I sit down to coach people who are living in limbo land   – the land of “I really want to be out on my own” BUT “I need to still make 6 figures”.

I first address the need versus want.  What many perceived as a necessity is simply a want that can be given up.  It’s no secret that many of us live far richer than we need to – everything from the $5 daily allotment of coffee to the big house and the fancy car to eating out 3x a week.  When you really track what you are spending your money on, you quickly realize there is a lot of fluff.  You need a roof over your head, basic utilities paid and food on the table, access to health care (don’t get me started on this one) – in other words, you NEED the basics, you WANT the other stuff.

After we create that need budget we come down to what type of salary is vital for your existence.  I’m not saying you need to sell your car and your house and go live in a tent, but I do force people to be realistic.  The more fat you cut, the less money you need to leave your 9-5 and go out on your own.

Once this is out of the way – I dive deeply into their current situation.  I often find many people really love what they do, they like who they work for but they have an “itch” to go out on their own. They want to have control over their destiny and work for themselves versus someone else.  They’ve done a great job, have aced their reviews but there is just something missing.

If you want to start a consulting gig that aligns with what you are currently doing in your 9-5 job, your #1 big prospect should be your current employer.  Many, not all, will embrace the concept.  They get to keep great talent at a reduced cost – no longer paying taxes and benefits.  It will also help them bridge the gap until they find a replacement if indeed they decide to do so.

I usually suggest to my clients that they flesh out their idea with some smaller clients that aren’t their employer to ensure they have refined their process before the ultimate pitch and the resignation letter. Some employers frown on or forbid a side hustle, so make sure you know the rules because the last thing you want to do is burn a bridge.

The bridge theory works, I’ve done it and I’ve helped others to do the same.   There’s a bit more to the process than a 500 word article can articulate, but you get the picture!

Why your current employer could be you #1 Customer Read More »

You’ve started your Facebook group – Now what?

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You’ve set up your Facebook Business Page, and you are ready to create your Facebook Group – but: What should I call it? How do you get members? What do you post about? Should the group be public, closed, or secret? How do you prevent trolls? Should I set rules or questions to join the group? All great questions, and things you need to consider before you get your Group off the ground.

Before you launch your Facebook Group – you should determine what the primary goal of your group is. Yes, the ultimate goal is to increase sales for your business, but people won’t join your group if they think it’s just a continuous sales pitch. Many businesses create Facebook Groups as a place to share some free advice and tips and tricks. It’s a place where you can be seen as an expert so that eventually the group becomes a feeder for your sales pipeline. SO, choose a name that conveys what your group is about. No one will join a group that is the name of your business. Name it something that relates to the topic or theme of what you want your group to be. You can incorporate the company name if it makes sense, but it doesn’t have to be included. Once you determine what you want the look and feel to be, pick a cover photo, create your description, etc.[/cs_text][cs_text]You also want to determine if your group will be public and anyone can join, they need to request to join, or it’s by invite only. Public groups are great for certain things, but if you only want your ideal clients or target audience in the group – I’d suggest a private group where you must manually accept requestors. There are a few instances where secret groups make sense – but those are usually part of a paid membership offering.

Many private Facebook Groups require members to answer a few questions before they can join. This is a great way to learn more about your members. Some sample questions may be: How did you hear about this Group? Have you viewed our free training or downloaded our Free XXX workbook? This helps you weed our spammers or trolls as well. They typically won’t take the time to fill out questions. BUT it allows you to get some insight into how much your audience knows about you, if they’ve viewed any of your lead magnets (free downloads or trainings) or any other info you want to gather.
[/cs_text][cs_text]It’s important to set the stage from the launch on the Group expectations. Create a pinned post at the top of the page so that the first thing new members see are the rules and expectations of the group. A few good housekeeping rules to post are 1. Keep things courteous – be respectful to others in the group. 2. No spam or plugging your business. (You will get trolls who try to join every group and post about what they are selling.) 3. This is your group too, please engage, ask questions, etc. 4. Give value – post things relevant to the group and its members. 5. Be open and share your own personal experiences, struggles, suggestions, etc. If you come across a troll or all around rude person, it’s ok to delete them.

Gaining a following in your Group can take time. Don’t get discouraged and give up. It’s important to get the word out about your group. Some easy ways are inviting people you are already connected to who might find interest it in. You can also send out an email to your list of contacts to see if they have any interest in joining. Why not add a link in your email signature or on your website as well? If people don’t know about your group – they can’t join!

Lastly, and probably most importantly, is posting engaging content. Get the engagement started with some posts of your own related to the Group topic. Don’t post salesy stuff about your own business. Share some of your own wins or loses, ask questions around areas that you may have personally struggled with. Share some 3rd party articles you found interesting or infographics. Once you get the ball rolling, others should follow.

As your group grows you may want to enlist others that you know to help moderate the page by making them an admin. It’s important that someone is always watching the group, letting in the right people, and encouraging participation.

You’ve started your Facebook group – Now what? Read More »

It’s never too late to….

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So many of you know I’m a runner. Proudly I’ve completed a couple half-marathons and numerous other races. I’m a back of the pack girl, it’s never about winning it’s always about finishing and for me…not being last!

You see I never considered myself an athlete. In fact, back in the 70’s high school gym class was brutal. There were always team captains (not me) and they got to choose their teams. You guessed it, this girl was always chosen last. Team sports – not my thing.

Fast forward a couple decades and I’m 45. I find out I have high blood pressure, like everyone else in my family. The doc told me if I didn’t reduce it I would likely have a stroke. My options – meds or exercise. For some reason, I decided that running is what I should do. I signed up for my first road race. A five miler on my 45th Birthday – in August, in the heat. Oy Vey!

First “training run” I couldn’t even make it 1/8th of a mile. But slowly I built up and I finished that race. I wasn’t last – but close to it. The rest, shall we say is history. So, what does this have to do with business? Everything. You see, you are never too late to do anything in life.

Change careers, launch a business or hell move to an island and sell shell necklaces if that’s what brings you joy!

Here are some examples:

Leo Goodwin, founder of Geico did so at the age of 50 – it’s no longer a family business and in fact it’s a household name.

Harlan David Sanders – AKA The Colonel, founder of Kentucky Fried Chicken launched that franchise at the age of 62. Most of his peers, I would guess, were retiring, not the Colonel.

Robert Noyce with a PhD from MIT in hand founded Intel at the age of 41 – a youngster compared to the above two!

And then there is Reid Hoffman who founded LinkedIn at the ripe age 35, quite old for a tech start up. That company went public when Hoffman was 43.

So when I hear, I’m too old to launch a business, or I’m too old to do this or do that, or I’m too old to run a marathon…I simply shake my head and smile. Because I know better – you are never too old to try ANYTHING!

What’s on your list that you haven’t done because you thought you might be past your prime? Inquiring minds do want to know!

It’s never too late to…. Read More »

Entrepreneurs need Alfred

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[NEWSFLASH] Not all Entrepreneurs make great CEOs and not all CEOs are great Entrepreneurs. People confuse the two titles a lot because in the small business and even in the middle market world the CEO and the Entrepreneur (Founder) are one in the same – but it’s a tricky and often tumultuous road.In fact, most Entrepreneurs don’t make great CEO’s unless they have a dynamic #2 working side by side with them. Alfred (CEO) to their Batman (Entrepreneur).

Here’s why: Most Entrepreneurs are visionaries, big picture, quick thinkers and are often shiny object people with a huge instant gratification trigger that leads to easy boredom. Entrepreneurs lead by vision and inspiration.

Take me, I’m a classic entrepreneur (right now I’m also the CEO but thank GOD I’ve got my version of an Alfred in Jenn). I love launching new businesses. It’s the thrill of it all. I love the plotting and planning, the dream of what could be and the launch. After about a year in, it becomes a rote process and I get bored and I want to build something new. Fortunate for me Red Barn Consulting allows me to do a TON of creative things and launch programs within the company. I’m no dummy – I’ve learned how to control my launch impulses so I can give my company time to mature, and I have a #2.

Effective CEO’s are also visionaries and big picture, quick thinkers BUT they have staying power and lead by inspiration AND process. The process part is HUGE. They are leaders with acute management skills. They can see the operational process mapped out in their brain and know how to put the right people in the right seats, protect the bottom line, and strategically take the company to the next level. Most CEO’s are more risk averse than entrepreneurs – they need to be.

Although I’m very good at mapping operational processes out for my clients and even for Red Barn, I’m one of the first offenders at not following the process. Just ask Jenn, she will tell you. Entrepreneurs aren’t the easiest to work for. We tend to get hyper focused on something and won’t let it go until we get what we want – strength and weakness btw. We also have a hard time with minute details, finishing tasks that bore us… the list goes on, but you can see where I’m going. Without a powerful #2, your business becomes a #hotmess quickly. Been there, done that.

Great CEO’s are deep thinkers, are fine with minute details and can stick it out for the long haul. Jenn is classic CEO material, I’m classic wild and wooly Entrepreneur. Neither one trumps the other, because both are needed for a business to launch, scale, and succeed.

If you are new to the entrepreneur world, and you relate more to me than Jenn, realize early on that you will need someone to run the ship. Find your Alfred.

Entrepreneurs need Alfred Read More »

The Consultant Gig – can you make it happen?

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Lately, I’ve been chatting with more than one “Mid-Life Re-brander” – those who have lived in Corporate America for a bit, gained a ton of knowledge and skills, and now in their 50’s and 60’s wants to leave and become a consultant.

The reality is, most won’t do it because it’s tough and scary leaving a 6-figure job and benefits to face the unknown. I know – I’ve been there, but I did it. The solution is, you need to test the waters – dip your toes into the world of Consulting. Find a few clients, try your skills, and see if you are good at it, and more importantly do you like it! The secret is doing this while you still have a 9-5 gig.

Disclosure: Some companies forbid side work while in their employ, so you need to check out your employment agreement and non-competes. Typically, if you aren’t taking money away from them, you are fine. Better safe than sorry, if you are at all iffy, contact an attorney and ask.

Here’s how to get started and get to 100K+ in revenue fairly quickly:

  1. Super Powers. What are you great at and love to do. What can you get lost in for hours? This is obviously a key component of success. You need to clearly define what you will be offering.
  2. Your early adopters. Once you figure out what your “offer” will be, you need to hone in on some early adopters who have a specific pain point that your offer solves. Make a list.
  3. Create a mini business plan. This doesn’t have to be a novel but you need something! What will your offer look like to your early adopters – what will the deliverables be, what will the cost be, what will the turn around be, and how will you do the work, so it won’t interfere with your job.
  4. Begin approaching your early adopters and sharing your idea with some key people in your network.
  5. Sign up 1 client. Test your new offer, tweak as needed. When you feel confident you delivered as promised and you enjoyed the process – go for Client #2. Rinse & Repeat
  6. Pick a Date. You’ve tested the waters and decided you can make this work. Set a date that you will exit your 9-5. Write it down.
  7. Pick a Dollar Amount. Determine how much you need to make in recurring income per month before your due date. Now work backwards to ensure your price point and working capacity matches. This is money you NEED versus what you WANT.
  8. Make sure you have a viable pipeline to add to the workload once you leave – you should have at least 5-7K in recurring income by the time you leave your job, and then be able to increase that immediately with new income streams.
  9. Bridges Secure. Don’t burn bridges with your current employer – in fact they may be an ideal client! (PS. I did this and secured $60K in revenue my first year in business at Red Barn). If you are great at your job, your boss may not want to let you go. Having you as a 1099 will cost them less and you can still be a viable team member – allowing for a slow transition out if that works for everyone!
  10. Go Time. Stick to your date unless there are real extenuating circumstances such as illness.

The 10-Steps may seem simple, and in fact the process is, but don’t be fooled, there is a lot of hard work involved. Early mornings, weekends, and nights working on and in your new business model. It’s far easier easing into the Consulting world than leaping in without a cushion.

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Side Hustle Nation – Take the Leap!

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In our program the Business Success Network, we love working with Side Hustlers – people who are working their dream gig on the side while holding down a full-time gig that they greatly dislike. (Trying to avoid words like Hate – they just don’t serve me)

If you are SERIOUS about making your Side Hustle the Full Time Hustle – then here are the steps we take our clients through.  I need to them to know the following:

  1. Be crystal clear on your WHY. What is your purpose – personally, and does it align with your business model.  If the side hustle is just a way to make a buck and you aren’t passionate about it – your business will never be truly successful. You will get burned and give up when the going gets tough – and it will, get tough that is.
  2. Ensure you have a viable business. Just because it’s a great idea, does not mean it’s a viable business model.  Perhaps your market is too small or too saturated, you can’t differentiate yourself enough from the competition or you have a time sensitive thing whose time is almost up.  You need to crunch the numbers and do some market research.
  3. That you need to be a risk taker. I don’t know one business owner who is risk adverse.
  4. That you need to have a success mindset. You must focus on the long haul and not get hung up on the bumps in the road.  You have to BELIEVE you will be successful.
  5. You have capital enough to survive without a paycheck for a while – because most of your $$ has to go back into the company – typically.
  6. You need to deeply understand your customer and their journey – how they will get to you, what you will do once they find you and how you will nurture them. What will their customer experience be like?
  7. Chief Cook & Bottle washer – If you don’t have the capital to pay for help, do you have the talent, will and drive to do it all?
  8. Are you open to coaching and learning? If you have a know it all attitude – you are setting yourself up for failure. Trust me – I’ve been there and it wasn’t pretty.
  9. Are you willing to fail – but more importantly, do you have the mindset that failure is simply an opportunity to learn and grow.
  10. That you need to spend just as much time working on your business in the beginning as in it.
  11. You need to be able to sell or have a process that sells your product for you – i.e. online platforms etc.
  12. Progress NOT Perfection. You need the minimum viable product to launch – it doesn’t need to be perfect, you can always adjust, fix and change as you go. Besides you need feedback from real life buyers!

 Side Hustlers, you can make the transition, and the time is really up to you. If you are focused on the end game, that transition will be far less painful than if you look at ALL you need to do and it will go a lot quicker.

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10 reasons businesses fail

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I’ve owned a few businesses in my day. Some have failed, some have been (and are) successful.

The failing part sucks – no doubt about it. You never enter a business thinking it’s going to not be there in a year or two – kind of like a marriage.  But it happens.

Here’s what I’ve learned from my own failed ventures and from the myriad of business owners I’ve worked with over the years.

  1. Business Partners. When they work it’s beautiful. When they don’t, it can be an ugly divorce in the making.  Just like a marriage, you need a partner who has the same core values, the same vision, yet you need to complement each other.  There must be trust, transparency, and all partners need to be on the same page when it comes to running the business.  Have a partnership agreement that details who is doing what and how everyone is getting compensated.  Trust me on this one.  Many businesses fail because the partnerships fail.
  2. Capital. You need money to survive.  Cash is still King.  If you are thinking of going out on your own, you need to have cash in the bank for at least a year and/or some VC money to infuse into the business.  Without capital, it’s hard to grow.
  3. 3 P’s. Policies, Process & Procedures.  You can’t wing it.  Have a process. Adjust as needed.
  4. Cabinet. Lawyer, Accountant, Tax Advisor & Insurance Broker.  Don’t ever skimp on these – Ever.  Don’t think DIY is a smart idea – it never is.
  5. Clear WHY. You have to be crystal clear on your vision – your WHY. What are you bringing to the market? Why should someone buy from you?  What is your unique value prop?
  6. It has to be a viable business. Not all great ideas are viable businesses. Do the market research and test.
  7. The need for perfection. Go to market. It will never be perfect.  Do 1-6 – that’s just smart business, but go to market even if things aren’t perfect.  Your website doesn’t have to be the grand vision you have – it can be 1 page.  You don’t need a staff of 100 – start with 1, etc.
  8. Hire the RIGHT people. They need to fit into your culture and see your vision. Resumes and skills are second to their core values.
  9. You need to change with the market.  Innovate or die.
  10. Ethical. Now you’ll say there are a ton of unethical business owners who are making millions.  True, but they won’t survive the long haul.  Besides, do you really want to be that person?  Do the right thing.  Karma is real.

My first business failed miserably and cost me dearly.  The reason was #1, #4, and #10 (on my partners’ end).  It was a mess.   If you are thinking about heading out on your own. Call me first – I can save you a ton of headaches!

Cheers to us Entrepreneurs!

10 reasons businesses fail Read More »

Who you REALLY want to work with

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What is the Target Client Profile – or TCP?

The Target Client Profile (TCP) is the criteria that makes up your ideal client. Clients who meet the following 5 criteria are the clients you should be on the look out for. We get it, not all your clients right now probably fit into this mold, but it\’s something to strive for. Hey, at the end of the day, having clients who fit into your TCP will make every one happier.

  • You need to have a strategic plan on where you want to be.  If it isn’t necessarily the clients you have now, it’s the clients you WANT to have. Who are they, where do they live, how much do they make, what do they like to do, are they conservative or not, what do they wear, what do they eat…you need to get that granular.
    • Find a picture in a magazine of your perfect client and start adding sticky notes around them that describe them.
  • You need to like them. This is so important. If you meet someone and you just cringe or think I’m going to hate answering the phone when he/she calls. Don’t do it.
  • Don’t be a slave to the almighty dollar – see #2
  • They need to be able to afford you. I never haggle on my price. EVER. I may reduce services, but my brain is worth something. Hell, 55 years of “stuff” in there has value. Don’t haggle or sell on price. If you do, you are training your customer that price is the point and you are a commodity. People will pay for things they see value in.
  • You have to be able to bring them value. If the prospect doesn’t drink your Kool-Aid – you will never bring them value because they will always be questioning your actions. The trust factor has to be there.

And there my friend is the TCP. When you start out you are going to take clients that don’t fit – hey, you have to eat. But if you can afford NOT to do that – you are in a great space. Taking clients that are not in your TCP suck the life out of you and then keep you away from working with your TCP.

Want some weekly advice and brain food? Join my Thursday email list HERE!

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Secrets to building your health care practice…

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Word of mouth is one of the best ways to organically build your healthcare practice. People are naturally cautious about who they share their medical needs with, and getting recommendations from friends and family helps to build trust.

The problem is, word of mouth has diminishing returns. You can build up a stellar reputation as a health provider, have overwhelmingly positive people who advocate for you, and bring in new patients, but at some point that’s going to tail off. When that happens, you need some other ways to reach out and let others know how awesome you are. Fortunately, we have just the thing…

Here are some tried and tested ways of marketing your healthcare business to bring new patients through the door.

Provide exceptional healthcare advice in a public setting. Some of the medical advice you provide is crucial. It helps potential patients gauge if you’d be the right doctor or healthcare provider for them. Use this to your advantage by providing great advice in a public setting. Attend health fairs and other events, speak at gatherings, and share your knowledge.

This doesn’t just need to be limited to strict medical information — If you have a nutritionist, physical therapist, or other healthcare expert on staff, they can provide advice in related fields and expose you to a whole new audience.

Give 150% when it comes to the customer experience. With so many options today, patients are being quite critical of their patient experience. How can you stand out? Have a comforting and comfortable waiting area with refreshments – it makes a difference! Doctors running late? Ensure you have a way to contact your patients and offer them a reschedule. Busy day of appointments? Make sure your staff doesn’t rush patients through the process but spends time ensuring their questions are answered and their needs are taken care of. Every little touch point matters. Not sure how you are doing – survey your patients and find out! PS – when you have a stellar customer experience it will differentiate you from others – market it as a perk!

Partner with other local businesses. One of the most powerful forms of local marketing is partnering with similar businesses. If you have a local gym, provide a class on exercising safely. If there’s a sports team, get involved with them by giving talks on recovering from sports-related injuries. If your town has large student population, give advice on good nutrition and diet. Involve yourself with retirement communities on medical care in later life.[/cs_text]

Build up a better medical referral network. Healthcare providers thrive on referrals. Network with other medical businesses in your local area and demonstrate your authority and expertise. As your reputation grows, use this to build mutually beneficial relationships with other specialists.

Offer free or low cost physicals, preventative tests, and vaccinations. Prevention is better than cure. Get healthy patients to your practice by providing physicals, preventative tests, flu shots, and other vaccinations for free, or at a significantly discounted rate.

Enhance your online, local SEO marketing. Local search, especially on mobile devices, is one of the main ways people discover your medical practice. Create a great website with useful, practical content. Make sure all of your local search profiles and listings are consolidated and accurate.

Stay on top of your customer reviews. Reviews should be another key part of your marketing strategy. Encourage your patients to review and rate your services, as higher reviewed businesses are better placed in search results.

Use the power of social media Monitor the social media around your brand and business. Interact with people through social media and share genuinely useful information and content. Answer questions to demonstrate your expertise and build trust in your advice and approach.

It’s time to look beyond word of mouth marketing, and here at RBC we’re ideally placed to help you do just that. We understand what healthcare providers need, and we provide awesome marketing and strategy services to help your business thrive.

Secrets to building your health care practice… Read More »

How Your New Marketing Campaign Could Create Business Chaos (And How To Avoid It)

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When it comes to marketing, you don’t want to be a victim of your own success. Done well, marketing can create incredible results — Getting your products, and services in front of a new audience, putting your brand front and center, and generating lots of new business.

That could be a disaster.

Let’s back up a bit…

You see, marketing affects every part of your business — If they’re not ready to handle an influx of new customers and the demand that brings, it can create big problems that damage your brand and reputation. As responsible marketers (and, frankly, lovely people), we want to make sure that doesn’t happen.

So, here’s how to look at all the “operational” bits of your business to make sure they can channel the torrent of new customers!

Your website, eCommerce store, or online presence. Make sure your website can handle the load. You’ll want to double-check response times, even when there’s lots of people on the website. Ensure all your calls to action are super clear, track how your visitors are using your site, and make tweaks and updates to make the sales and conversion funnel easier.

Your sales and onboarding process. Talk to your sales teams, sales call center, and onboarding operations. Make sure everyone knows what’s coming and that you have enough technical capacity and the right number of staff to handle all your calls.

Ensure all your sales staff are properly trained and know all of the processes, incentives, and other information they need to close sales. Find out if your sales department needs more resources. The aim is to deal with all your customers quickly, efficiently, and well, and ensure they don’t have to wait too long on the phone. Because hold music sucks.

Your logistics and distribution[/x_custom_headline][cs_text]If you need to ship products to wholesalers, retailers, or customers, make sure you’ve got the right logistics and distribution in place. Ensure you can pack up and dispatch your products quickly, so there are no delays or problems getting them delivered.

Your customer service area. When you get more sales, you also get more customer service requests. Ensure your customer support center is properly staffed and that you can handle and resolve customer issues quickly. If you’re marketing new products or services, ensure all of your support staff are properly trained on their use and possible problems.

Your software and business processes. Make sure you’ve got good communications and collaboration tools in place across your business. Your teams need to be able to talk to each other efficiently, track customers and actions, and ultimately provide a high level of service to everyone.

That goes for the software, systems, and processes your business relies on. If possible, stress test workflows, handoffs, and other possible bottlenecks so you can identify and resolve issues before they become a big problem.

All of this might seem like a lot of work, just because you’re launching a new marketing campaign, but if it does as well as you hope, you’ll be extremely happy you’ve got the right resources, training, and support in place to create super-happy customers.

How Your New Marketing Campaign Could Create Business Chaos (And How To Avoid It) Read More »