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7 Skills Women Need To Start A Business by @XLConsultingGro

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by Elaine Slatter | Featured Contributor

More than ever, women are deciding to strike out on their own and create their own future by starting their own enterprise.  There are only 7 skills women need to start a business, let’s examine what they are.

7  Skills Women Need To Start A Business

  • Are you determined?
  • Are you organized?
  • Do you have a passion?
  • Are you a leader?
  • Are you savvy with your finances?
  • Are you a decision maker?
  • Do you like people?

Determination

Being an entrepreneur is not for the faint of heart because the road can be long with a series of bumps along the way.  The average business does not last five years and staying in for the long haul can be intimidating.   Always taking steps to improve your business or pivot it in a different direction if it isn’t gaining traction are good signs that you have the determination to keep going when the going gets rough.

Do you have the grit to keep going even when roadblocks are put in your way and when only YOU believe in yourself?   Then you have that important ingredient called “determination”.

Organization

Chances are you have a busy life, so organization is key to starting and running a successful business. Organization starts with making sure you have a business plan before you go into business.  The plan, while probably out of date after the first few months in business, will help you find out, on paper, whether your business has a chance of success.   Without a business plan, you will not be able to get outside financing.

If you are organized and have done your homework you will be able to decide on the right business structure and proper business and tax registrations before you start out.   Most businesses start out as sole proprietors and incorporate once their business has gained momentum.  Check with an accountant to see which is the best business set up for you.

We are great believers of “the list”.   Make it last thing at night for your next day’s activities.  Tackle the hardest items when you have the most energy.   Prioritize the list by importance to your business and separate the ‘Must Do’s’ from the “Like to Do”.  Do the same for your personal life.  At the end of each week, look at your “list” and decide which items move on to your calendar for the following week.   Only move the items that you are going to take action on to your action list.  This is organization 101.  Don’t overextend yourself, if you do, you will get nothing done!

Passion

Passion for your business is very important, because passion is what will fuel you to continue when you hit speed bumps.  Look at different ways to re-ignite your passion when your energy for your projects has deserted you. Share your passion with others.  Your supporters will help you along when your passion is wavering and the going gets tough.

Leadership

As you grow your business, others will look at you for leadership.   There is a difference between being a ‘leader’ and being a bossy ‘boss’.    Strong leadership skills will enable you to build the right team for advancing your business and make your business a place where others will want to join you in your journey.   If you don’t have any leadership experience, you can either take a course or find a mentor who has leadership experience who can help guide you in developing leadership skills.

It’s important to find your own leadership style.  How do you do this?  Observe other leaders and learn from their good traits and leave the bad ones behind.  Be authentic, you can’t mimic other leaders you must find your own voice.  You are unique.

Financial Literacy

It’s tempting to skip this part because it isn’t the glamorous side of running a business.   Financial responsibility is important both in our personal and business lives.     When starting out your business, it’s wise to get your finances in order and to have sufficient cash flow for the first year.

An accountant is the first step to getting your books set up properly for your business structure.   There are many easy accounting packages to help you get organized, Fresh Books and Quick Books  by Intuit are two of the popular ones.  For more structured businesses, Sage Accounting is a good choice.

If you hate bookkeeping yourself, consider outsourcing. It isn’t an expensive monthly expenditure and can save you many valuable hours of work that can be spent growing your business.

Just as important as getting your bookkeeping done on a monthly basis, is reviewing your financials as quickly as possible every month, because the story of your business is in these results.     If you review on a regular basis, you will know from the numbers what is going on in your business.    Do you need more sales, or perhaps your expenses are too high?     If you don’t understand your profit and loss statement, get your accountant to explain all the line items.   The more confident you are understanding the financial aspect of your business the better equipped you will be to make financial decisions.

A Decision Maker

One of the biggest barriers to decision making is fear.  Fear of making a mistake, fear of taking a risk, fear not everyone will like your decision.    Our take on this is that every decision you make can be changed one way or another if it turns out to be the wrong decision.

The best way to mitigate the risk of making a wrong decision is to do your homework.    Weigh up all the pros and cons of the issue.   Seek out a second opinion on the course of action you are considering and then go with your own gut.   Some of the hardest decisions are around people. Should you hire a relative, when should you release a non-performing employee?   Taking the emotion out of the decision should help you make the right choice and remember it’s not personal, it’s business.    If you have to release an employee the caveat is to be professional, offer assistance in the transition and ensure the person understands they are a great person but not the right fit for your business.

Like People

Why is this important?    Because people buy from people they like and trust, no matter what your business. You may have all the technical skills in the world but unless people connect with you and your Company, you can easily fail. Building the trust factor takes time, there is not “instant” way to speed this up.  If you are authentic in building your business relationships, the recommendations and trust factor will follow.

Be relentless in your follow up.  Make it a rule to follow up on emails and phone calls within 24 hours.  Do not disappoint your customers by dragging your feet.  Even if the news you are about to deliver isn’t good, think about how you can mitigate the bad news by offering something that will make them forget what has happened.  It’s how you recover that’s important, both for repeat business and for referrals. Your customers want to know that you really care.

Building a network of people who you trust and who trust you will help you grow your business for the long term.    Some of these people may be willing to become your mentor and propel you to the next level.    Don’t be afraid to ask for help.

Summary

If some of these skills are missing, it isn’t too hard to acquire these by practicing them in whatever job you are currently doing.    If you really need help, there are all kinds of ways of to fill in your knowledge gaps.   A simple Google search will uncover all kinds of training on whatever aspect you consider to be your weakness.   Two great places to start are YouTube videos and Udemy.

For more formal training, try taking a MOOC. (Massive Open Online Course).Most of these are completely free and are university level courses. There are a few platforms for taking MOOC’s, one of the popular ones is Coursera.   For example if you want to explore the whole idea of entrepreneurship, try some of these courses from the University of Maryland.

And The Last Word….overcoming FEAR

Perhaps because women are more cautious by nature, there is a certain amount and anxiety and fear of starting a business.       But the truth is if you have mastered the seven skills it takes to start a business, then take that leap. If you have recently opened a business, why not share your thoughts with us?

10 Must Have Marketing Hacks for Entrepreneurs by @XLConsultingGro

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Marketing Hacks for Entrepreneurs

by Elaine Slatter | Featured Contributor

If you are a startup or even if you are an established entrepreneur, marketing is always a focus for your business.  We have listed 10 must have technology marketing hacks for you to use to create your online presence and work efficiently.  These marketing hacks will save you so much time and money you will wonder what you did without them.

This list of software was chosen for ease of use.  You don’t have to be a technical wizard to put these tools into action because we know as an entrepreneur you wear many hats and one thing you need more of is time.  All these tools will save you tons of time.

 Our Top 10 Marketing Hacks

  1. Canva – Graphic Software

Whatever we are doing in our marketing campaigns, graphics are number one.   The best tool for designing graphics for your social media campaigns, advertising and blog posts is Canva.  There is a free version and a business (paid version).  Using the pre-determined templates in Canva you can design the shape of graphic that is ideal for your marketing use.  This includes business cards, facebook covers, Twitter covers, Instagram posts.  You can upload your own pictures or for $1.00 you can purchase a photo from the Canva image library.  This is easy to use software.  Once you have tried it you will be hooked!

  1. Lumen5 – Video Software

If you don’t have a budget for professionally produced videos, why not try Lumen5?  This software also has a free and paid version.   Why do we like it?  You can take text from your existing blogs and turn them into a compelling video.  Basically, this software makes 3D slides with headings.  You can choose music to go with your video and the overall effect is professional and amazing.

  1. MailChimp – Email List Building & Automation

MailChimp has been around for a long time, and it has evolved now so that it can be your automated funnel without using expensive options such as Infusionsoft.  If you have a WordPress website, you can link your MailChimp list to a popup on your homepage and then automatically send your new fans your free digital gift such as an ebook, without you having to do anything.

  1. Designrr – Lead Magnet

Create a beautiful workbook, ebook, checklist without writing a word!  Using material from a Word document or your blog, you can create professional looking pdf’s in a matter of minutes as this software formats everything for you.

  1. Fiverr – Freelancer Platform

Looking for specific help in your marketing?  Maybe you want a new logo, a professional voice actor, podcast or video editing, video ads or explainer videos?  You name it in the world of marketing and a freelancer could be your best friend. We suggest before you purchase you looking at the star rating of the seller and read the recommendations before you hire.  You can always send the seller a quick e-mail first to outline your project and ask for a quote before you purchase.

  1. PromoRepublic – Social Media Content Creation And Scheduling

This is relatively new software in the market but one we can’t do without.  It suggests posts, offers content, graphics and so much more.  Everything is editable enabling you to add your own branding.  You can add multiple accounts and schedule posts for each account.  In just a short time you can schedule a week’s worth of social media postings while sitting at home in your PJs at midnight or at 5 am! It doesn’t matter when you create your postings with this amazing scheduling tool.  It’s like having a cross between Canva and Hootesuite.  If you are creating social media posts as part of your business service, this is a definite 5* ‘must have’ tool.

  1. Zoom – Video/Podcasting & Webinar platform

The free version is great for video and podcasting, especially when interviewing one guest.  With the recording button, you are all set.

You can use Zoom for online meetings, too.  The record button helps here because if anyone misses the meeting you can send the recording to keep them in the loop of the discussion.  Zoom automatically puts the recording in its own file on your computer once you leave the meeting.

Some people also like to use the recording button to record their own dictation and then use voice recognition software to translate into the written word.  This is a great way to “write” a book without all the tedious typing.  You do have to edit the finished result, but if writing a book is a daunting task, try recording instead.

Time Saving Tools

  1. Dropbox – Large File Depository

Sometimes you want to share large files such as graphics or documents with multiple people.  With Dropbox, you can drop your files into this depositary and share the dropbox with the people who need the files.

  1. Asana – Project Tool

If you have a ton of marketing projects to do and are working with multiple collaborators, Asana is free software that makes the assignment of different tasks among your team a breeze. No more emailing back and forth with each other.

  1. Doodle – Call Scheduling

When you are working with multiple people on a marketing project and need to have a meeting, Doodle can be your absolute best friend.  You schedule the available dates and times for the meeting and send out to all the participants.  They fill in their availability and you can determine the final date/time that fits the majority of the participants.

If you have a favorite technology that you couldn’t be without, be sure to drop us a note in the comment section. We always love to hear from our readers.

How Could A Mobile App Help Your Business? by @XLConsultingGro

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mobile app

by Elaine Slatter | Featured Contributor

If you are a Starbucks lover you know the drill.  You can order your Starbucks coffee and treats via the mobile app and as you arrive at your local store, there is your order waiting for you, no muss, no fuss.

The Starbucks mobile app is booming. Starbucks Rewards has 13 million active members, a 16 percent increase from last year, Forbes reported. Mobile order and payment makes up 7 percent of total Starbucks orders in the United States, double its percentage this time last year.

But, wait a minute, you aren’t Starbucks, right.

The cost of developing a mobile app used to be huge.   Starting at $15,000 to over $100K, for a Starbucks type app. This is way out of the reach of most small businesses.

Times have changed, thanks to new technology.  Apps can now be custom built using a similar template technology that revolutionized website building.  A template-based mobile app is now much more affordable.   Somewhere in the range of $3K from app developers such as Like Us Communications.

Why Should You Think About A Mobile App

  1. Customer Loyalty.

Nothing helps customer loyalty more than creating processes that keep your customer thinking of you first

  1. Convenience.

Customers are pressed for time, always.  You just can’t get more time, therefore the alternative is to find ways to make the best use of your time.

  1. Mobile is King

We are attached to our mobile devices as never before. Nobody leaves home without their cell phone.  It doesn’t matter how old you are. So why not use a mobile app to deliver a customer experience, whatever that would be for your business.

What Could A Mobile App Do For Your Business?

If you are a yoga studio, you could use push notifications to tell your members when the next yoga class is starting 45 minutes prior.

If you are a meal prep/delivery service an app could send coupons, advise delivery, send meal suggestions.

If you are an event organizer an app could be applied in multiple ways to keep your event top of mind for the attendees, before, during and after the event. In addition, a mobile app can help attract and give value to sponsors, advertisers, and speakers.

If you are a restaurant a mobile app could offer many solutions for prospective customers, from reservations to meal ordering, take out services etc.

If you are a dress shop think about the possibilities. From flash sales, showcasing new products, ordering online, and sending messages to the store with just one tap.  It also could show customers the top-selling items, check the stock/size of an item they are thinking of purchasing.

In short, a mobile app can help you solve customer pain points in a fast and efficient way.  Artificial intelligence is the way of the future to deliver low-cost solutions for increasing customer engagement. It personalizes the customer experience while lowering the per cost transaction.

Still not sure of the applications?  Listen to our podcast with Tricia Belmonte and you might be surprised at how you could use a mobile app for your business.

 

How To Teach What You Know Online by @XLConsultingGro

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by Elaine Slatter | Featured Contributor

To teach what you know online isn’t that difficult, thanks to the multiple software options now available.  You only have to check out the online course provider, Udemy to see a vast array of courses.  Whether you are a graphic designer, home stager, yoga instructor, business coach or photographer, your expertise can easily be developed into a course or courses.

sam vander wielen diy legal templates stolen content

Many experts have created significant additional income by teaching online. Dorie Clark, Adjunct Professor of Business Administration at Duke University’s Fuqua School of Business and the author of Entrepreneurial You, Reinventing You, and Stand Out  is one expert who has successfully added online classes to teach entrepreneurial skill sets.  She talks about how she went about designing her course in this article.

 

Steps For How To Teach What You Know Online

Step One – Who Is Your Audience?

Once your audience avatar is established it’s easy to create a course outline, because you will know how to structure your course depending on whether it is for beginners, intermediate or advanced students.  You may even have material that can be adapted from blogs, ebooks, or full instructional books you have already written.

Step Two – Design And Price Your Course

To teach what you know, one way to create your course is to check out how other experts in your field deliver their course material.  Platforms such as Udemy require that 60% of the course is in video format, whereas other platforms don’t have such restrictions.  By checking out other experts, you can decide how you want to deliver your lessons.

Breaking down the course into lessons that naturally flow from start to finish is essential to teach what you know in a logical sequence that does not confuse the students.  Checklists, quizzes, and assignments are all ways to keep the learning going in the right direction.

Pricing your course might include a quick free introductory course or webinar to encourage signups for the paid courses or a landing page to sign up for a paid course and receive a free gift.

Step Three – Choose The Platform For Your Course

There are a variety of options for hosting your course.  Some require more technical expertise than others.  For a full list and comprehensive guide to all the options here is a link to the 15 Best Online Courses.

If you already have a website, you may want to go a different route and host your own courses.  For example, if you have a WordPress website, there are several plugins that can host your course, some are free and others are premium plugins.  Elegant Themes does a great job of evaluating the top 6 WordPress plugins for LMS.   (Learning Management Systems)  You can use these plugins with your existing theme.  Some include membership as well as payment gateways.  There are so many options to teach what you know using these plugins.  If you use this option 100% of the proceeds is yours to keep (minus the percentage kept by the payment gateway).

Many experts have found that private Facebook groups are a great way to keep the students engaged.  They can ask any question in this type of forum and the personal interaction with you will create a bond that both help the students move forward to complete your course and also be interested in any future courses you might design.

Step Four – Market Your Course

Once you have built your course the next step is to let the world know that you have a course.   You can use your current mailing list to advertise your course by sending them to a landing page to sign up.  In addition, you can use paid advertising on Facebook, Google Ads, LinkedIn, Twitter or Instagram.

You can also post your course in Facebook Groups, Your Twitter page, LinkedIn or Instagram feeds.  Using graphics or video are key to engagement.   Another tip is to use a posting schedule to create the buzz on all the platforms and to give discounts for early signups with a countdown to when the discounted offer will end.   The idea is to create a sense of urgency for the signup.

If you already have designed a course, we would love to hear which tools you have found to be indispensable to teach what you know.

How To Use LinkedIn To Create Your Powerful Personal Brand by @XLConsultingGro

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by Elaine Slatter | Featured Contributor

If you are thinking that LinkedIn is just a resume site if you are looking for a job, you are not alone.  Although LinkedIn has been around for 15 years many entrepreneurs do not realize the power of LinkedIn.  It is THE business social media platform for business.  I call LinkedIn, “Facebook for business”, serious business people.    You may be wondering how to use LinkedIn to create your personal brand, so let’s get started.  The first step is to create that know, like and trust factor.

Your Photo and Cover Picture

It all starts with a great professional headshot, one with a plain background.  Don’t use a picture cropped from a family picture or one with your children, husband or dog.  The idea is to look professional, even if a friend takes your picture with your cell phone.

The cover (background) picture default, a standard blue background,  can be changed to reflect the business you are in or to create an interesting backdrop.

Your Job Title

Instead of using a generic title such as an accountant, yoga instructor, franchisor etc. why not be creative and use this line effectively to be more descriptive of who you help.

Your Summary

The new profile interface only shows the first 2 lines of your summary, before a reader has to click SEE MORE to see the full version. That means you have 200-250 characters (or about 25-42 words) to make your opening compelling. Use it wisely.

Four Types of Media You Can Share on Your LinkedIn Profile

Slides:  These are shared through Slideshare (a LinkedIn company)

Videos:  Anything you post on Youtube can be shared on LinkedIn and helps break up the text on your LinkedIn profile.  The video could be any aspect of education that your potential clients would want to know about your business.  This could include tips, the latest news about your industry or a demonstration of your product.

Blog Posts:  Your LinkedIn profile can be linked to your website and your blog, You can also create a LinkedIn badge and embed on your website.

Work Samples:  You can also link your profile to your work samples by including the page on your website that shows your work samples.

Your Work Description

When compiling the information that describes what you do for your clients, think of the pain your clients have and how you have solved this pain.  This is where you highlight what you have accomplished in each job you have held. Your current description is the most important.

Filling in the Education Section

This section can be used for all the courses you have taken as well as degrees and certifications

The Volunteer Section

Any non-profit areas where you have contributed either work-related or personal are important to list.

The Personal Section

It’s very important to list your contact information in this section, both your phone number and business email address.  I am always surprised when people leave this information out.

Ask for Recommendations

Once you have completed a project for a client, while it is still fresh in their mind, ask them for a recommendation.  This can be done directly from your LinkedIn profile.   This recommendation can be also used as a testimonial on your website.

What’s Next?

This is where the magic of LinkedIn can be unleashed to create your personal brand.

  1. Share your blog posts from your website to your LinkedIn profile and add a piece of commentary before the post to give it some context.
  2. Join appropriate groups to show your expertise.  One great idea is to join your local Chamber of Commerce group and post interesting articles within this group, both yours and other news.  Depending on the Chamber, you may be able to post in a Chamber group without being a member of the actual Chamber itself.
  3. Write on the LinkedIn blog platform to educate people in your area of expertise.  You can link out to your website in the blog post.
  4. Follow influencers and comment on their posts for a month or so.  Be genuine in your commentary and add additional insight.
  5. Send out invitations to link with influencers after you have commented on their posts.  ALWAYS add a reason why you want to link to them.  This way they will be more interested in connecting with you.  This applies to all the invites you send!
  6. Once you have made connections with people take it to the next level and invite them out for coffee or engage in a conversation through the LinkedIn messenger to deepen the connection you have with them.
  7. Use LinkedIn to introduce people to each other.  No more trying to remember people’s contact information.  You can use the direct message function on LinkedIn to connect multiple people for introductions and then you can bow out and they can take it further without you being involved.  How easy is that!

If you want to learn more about the power of LinkedIn and how to strengthen your personal brand, listen to our podcast here.

How To Overcome The Fear Of Entrepreneurship With A Side Hustle by @XLConsultingGro

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by Elaine Slatter | Featured Contributor

Perhaps you have been thinking of becoming an entrepreneur for a while, but aren’t quite ready to take the plunge?You might be afraid it isn’t going to work and don’t want to ditch your steady income day job for the uncertainty of entrepreneurship.  Starting a side hustle could be your answer.

A side hustle may become a full-time venture in the long term, but it could also remain a side hustle as an income supplement.  There is no hard and fast rule.  Whichever way you choose needs to be right for your unique situation, however, you will need to find some time to develop your side hustle.  How many hours a week can you devote to a side hustle?

Sometimes you have to try different side hustles before you find the right fit.  But that’s ok, too. In today’s work world, we will have many different roles before we retire.   We are called “slashers”.  That’s right, we have titles like   Author/Speaker/Trainer/Teacher, we are not just one dimensional with titles such as Accountant!

What Kind of Side Hustle Could You Start?

One of the first things is to decide what product/service you could start while still working your existing job.  The easiest way to list your transferable skills that could translate into an entrepreneurial adventure.

For example

Current Day Job = Teacher

Transferable skills = speaking, designing programs, writing, presenting, creating

Entrepreneurial opportunities = certified coach, creating courses on your topic specialty, teaching others how to create courses/webinars, writing a novel, writing a ‘how to book’ such as ‘how to be a dynamic teacher’, teach via Udemy platform.

Current Day Job = Fitness instructor

Transferable skills = great at exercise activities, believes in a healthy lifestyle, trainer skills, communication skills, program organization.

Entrepreneurial opportunities = Create healthy food line of frozen products to go such as paleo foods with home delivery, launching a natural skincare product line, mobile personal trainer to executives, network marketer for products in related fields of health/nutrition/exercise.

Turning a hobby or interest into a side hustle is another alternative.  For example you might be a math teacher but piano or art might be a hobby that could also translate into a side hustle.

If you cannot think of anything that really comes to the top of your mind, then hundreds of people have turned into Amazon sellers, making plenty of money with this side hustle.  The easiest way is to become a reseller, called Retail Arbitrage.   Basically, in retail arbitrage, you find a product in a retail store and re-sell it at a higher price on Amazon.  It is surprising what items you might be able to find at a deep discount on a seasonal clearance that you can re-sell at a high profit.

The capital outlay, while you experiment, is very small and it is fairly simple to set up. The fees from Amazon are quite reasonable and there is an app you can get for your mobile phone that helps you find out if you have permission to sell a particular product.  It also figures out at your retail purchase price whether you can make a profit selling on Amazon. So all the hard work has been done for you.

Success Tips for a Side Hustle

  • Learn as much about your new product/service as you can before you launch
  • It doesn’t have to be a perfect product/service
  • You have to be able to make money
  • Start small without a huge outlay of cash
  • Dedicate a minimum of 16 hours a week to your side hustle
  • Take action steps (baby ones) every week
  • View failure as feedback, nothing more
  • Try again and again

If you have tried a side hustle tell us all about it.  Let us know if you are going to jump from a side hustle to being a full-time entrepreneur or just letting your new business stay as a side hustle.  We would love to get your honest feedback to share on this platform.

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How To Create Interesting Content Ideas That Convert by @XLConsultingGro

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by Elaine Slatter | Featured Contributor

Marketing your business means developing lots of valuable content.  To create interesting content can be very time-consuming. There are lots of ways to create content and then repurpose the content into different formats.  You can re-engage your audience in multiple ways with a minimal amount of work.  Here are some ideas to help you.

10 Easy Ways To Create Interesting Content To Convert Fans

  1. Write posts that present a problem(s) and then offer solutions. Make it personal by using your own experience to expand on the problem or solution. Adding the personal touch helps with the “trust” factor and also brings you closer to your audience who now find you relatable.
  2. create a free e-book from your blog series that you give-away as a reward for signing up for your newsletter. If you have written a book, you can pick snippets to turn into an e-book.  The Designrr software can create your ebook in minutes with a minimum of effort.  On the flip side, you can turn your blog series into a book if the blogs follow a central theme.
  3. Start a facebook group around the subject of your business ie “Healthy Lifestyle”, “Everything Yoga”, “Biz Mastermind”, “Young Moms of xxxxx city”. You can do lots of things in your facebook group, ie advertise, hold a facebook live event, hold a facebook online party etc.
  4. Ask questions of your tribe in your blog or facebook group, because people want to have their say and know their opinions count. You can create a poll which adds variety.  If your questions result in lots of engagement, intuitively this is content people are interested in.  This can lead you into many different content directions.
  5. Take your blog content and create videos to repurpose the blog ideas. You can invite others to join you which switches up the point of view.
  6. Interview influencers in your area of business for their expertise, which will amplify you. You can find influencers on facebook, twitter and/or LinkedIn.  You will be surprised how helpful influencers can be even if you aren’t well known.
  7. Curate a weekly paper on a platform such as paper.li . The amount of work you have to do to create the fresh content and layout will be practically nil. All you will have to do is share it. All you do is plug in the topics to create the paper and the rest is done for you.
  8. Use fantastic free tools to create graphics to illustrate your content, whether it’s pictures, suggestions, infographics etc. Tools I can’t do without are Canva and PromoRepublic.  In less than 5 minutes, using pre-assembled graphics, you can visually ‘wow’ your readers.
  9. Create lists on a particular topic to help guide people through the content and make it easy to read and digest. Including outbound links for further reading makes it even more valuable.
  10. Podcasts are a great addition to videos as a marketing tool.  You can produce your own podcasts using the free version of the software, Zoom and then upload the podcasts to Soundcloud and then share the podcasts to your own blog. An easy way to create podcasts is to interview guests experts who have something to say on interesting topics that are relevant to your brand.

Do you have innovative content suggestions that could help women entrepreneurs? We would love to hear from you.

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7 Power Moves For Entrepreneurial Success by @XLConsultingGro

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by Elaine Slatter | Featured Contributor

Entrepreneurial success can happen if you follow our key 7 power moves.  A successful business is a series of building blocks.  Once you have these fundamentals in place, all you need to do is rinse and repeat.  Here are our power moves.  They form an important foundation for entrepreneurial success.

1)  Find A Mentor

Why a mentor?  Think of a mentor as your business advisory board.  A great mentor will listen to you, guide you, open up doors for you, help you overcome roadblocks and keep you accountable.  Find the right mentor that fits where you are on your business journey.  Are you a startup, a mid-size company or something else. What do you need help with?

Not sure where to find a mentor?  Ask your entrepreneurial friends, check out your contacts on LinkedIn or contact entrepreneurial organizations such as your local Chamber of Commerce to see who offers mentorship programs.

Connecting with and asking experienced entrepreneurs in your field whom you admire to mentor you is priceless.  You will be rubbing shoulders with people who have achieved the success you are looking for. Be specific when asking for help.  Exactly what do you need?

2)  Network

Business networking can be scary for some people, but it doesn’t have to be.  Networking is key to building your tribe.  Finding like-minded entrepreneurs with whom you can develop a long-term relationship with is golden.  Not everyone is an extrovert but that shouldn’t stop you from going out and meeting people face to face or connecting online.

If you are still anxious about how to network effectively, listen to our podcast with featured guest, Darcy Roberts, a certified business coach.  Her helpful tips will help you to relax and enjoy meeting new people and building a vibrant group of entrepreneurs.

Networking also helps you build your team and a community among potential clients.  It will become your referral base.

3)  Create A Professional Presence

Are you true to your brand?  How you present yourself to the world is so important.  On all your social platforms (even your personal ones) make sure you are always professional.  From your bio, to your posts, to your photo, how you present yourself in person… all of it is critical to your success.

Yes, celebrities and politicians can get away with less than professional postings and behaviors, but in the long-term, even they will lose fans and support.  Don’t let that be you.

4)  Become An Expert

Are you known as a reliable, go-to expert in your field?  If not, keep working on getting the best training in your field and then presenting your expert advice in a book, workshops, special events, as a speaker or on platforms such She Owns It.  Over time, with consistent exposure, you will become that sought after person in your field.

5)  Market Your Business Effectively

Target the client base that can afford you.  Offer a taste of your services with an irresistible offer, but make it limited, and time sensitive, so it is exclusive.   Don’t forget to address these key points in your offer,

Why people need it

What problem will it solve

How you will solve it and why you are the best person to solve it

Where will you deliver this offer (online, in person, at an event)

Automate your sales funnel and remember that you will need at least five touch points to get people’s attention in this busy connected world.

Don’t forget to charge what you are worth. Your price points will determine the kind of clients you will attract.

6)  Leverage Other Experts To Enhance Your Product/Service

How do you do this?  One of the easiest ways is to interview people for your videos/podcast/books.  How do you get people to say ‘yes’? Just ask, you will be surprised at the results.  I’ve asked dozens of people to offer their expertise for my entrepreneurial startup book, Fabulous Fempreneurship and for a new book I’m researching. I’ve only had one person turn me down.  Why did I get 99.9% of people to say ‘yes’, even though I haven’t even personally met most of them?   It’s easy, people like to be recognized for their expertise and want to share their knowledge.  And don’t forget your experts all have business friends too who will help promote your product/service.

7)  Follow-up

The secret sauce to every business is to exceed your customer’s expectations.  Give them superior service by meeting your deadlines and communicating well. This means having a great follow-up system. Nothing should fall through the cracks, ever.  If you can’t fulfill your promises due to unexpected circumstances, communicate this news, too and have a rescue plan.

These 7 power moves will help you build a lasting, sustainable and successful business that you can be proud of.

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Three Keys To Connecting With Prospective Customers by @XLConsultingGro

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Connecting with prospective customers

by Elaine Slatter | Featured Contributor

A few weeks ago I interviewed Pat Duckworth an international author, speaker and NLP expert on my podcast. We had a really interesting and engaging conversation about connecting with prospective customers.

Pat talks about how people want to feel understood.  Are we really listening to want they want and need?  Although we may have all the answers ahead of time and can anticipate many of their questions, if we go too fast, they will feel no connection with you.  Prospective customers have their own pace, so don’t rush them.

Mistakes When Connecting With Prospective Customers

A friend of mine said this very thing happened to her.  She is an accounting professional who uses the latest cloud based accounting software called Xero.  It’s pretty new software in North America and many people aren’t familiar with it, preferring an accounting program called Quick Books.  When a prospective customer called her asking about accounting/bookkeeping services, she talked about how great Xero was, even though the prospect had never heard of it.  He wasn’t interested in hearing about Xero as he had been using Quick Books for many years.

This is the bookkeeping program he is familiar with and was inquiring about.  My friend realized when she had hung up the phone that she hadn’t connected with this potential client because she was way ahead of him.  He didn’t end up becoming a customer.

What should have done instead?   My accounting friend could have used this technique, recommended by Pat Duckworth.

1. First Ask A General Question

Start with something like

“Do you have a problem with your bookkeeping/accounting at the moment?”

Listen to the answer and then paraphrase the answer back to the person using their own words.  This way they know you understand the question asked.  Something like:

“You have explained that your current bookkeeper takes weeks to post the entries every month into Quick Books, is that right?”

2. Ask the Follow Up Questions One At A Time

Let The Customer Lead The Pace

“Can you tell me more about this?”

By asking the questions one by one you are clarifying each question rather than jumping ahead and assuming you know both the questions and answers.  Jumping ahead can confuse your prospective customer because it can catch them off guard and down a path that is nowhere near addressing their immediate problem.

3. Developing Trust In Just A Few Minutes

Once you have let the prospective client truly explain their problem and they know you understand them, you have quickly established the trust factor.  Once there is trust, it is easy to continue the connection and eventually turn the prospect into a customer.

 

Pat DuckworthTune into the Fabulous Fempreneurship podcast to hear how expert, Pat Duckworth, leads you through the whole process of building trust with prospective customers.  You will be amazed how simple it is and you aren’t selling a thing!

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Do You Dream Of A Business With Over A Million Dollars In Revenue? by @XLConsultingGro

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7 Strategies To Reach a Million Dollars in Revenue

Business Success

by Elaine Slatter | Featured Contributor

Did you know that less than 2% of women-led businesses reach over a million dollars in revenue?  In researching for my follow-up book to “Fabulous Fempreneurship” a business startup guide, I have been interviewing women founders to see what it takes to move up from a startup business to a superstar organization of over a million dollars in revenue.

Here are some of the highlights of these interviews.

 

Don’t over analyze and paralyze yourself into taking action

Victoria Sopik founder of Kids and Co. is a visionary and her partner is an accountant and a detailed person.  As a visionary Victoria says it’s her role to think big and expand the business (originally starting in Canada and now spreading across North America).  Her partner’s role is to find holes in the vision but not stop the vision.  Victoria will listen to her partner but unless there is a great reason why the company should not go forward with its plans, she takes the risk, because she knows from her past experiences, with the risk comes the reward.   She has seen and heard a lot in her 15 years of business, but nothing she says is insurmountable. After all, she has survived the trials of being the mother of 8 children all of whom she says are still alive to-day!

Surround yourself with mentors

No-one can be an entrepreneur on their own.  The successful women founders I interviewed all said they had mentorship.  For some it was mentorship by other women in CEO networks, for another CEO it was earning a spot in the Quantum Shift leadership series, partly sponsored by KPMG

Have a strategic plan

If you don’t know where you want to go, how can you get there?  All the women leaders stressed that as your business gets traction you have to plan the next phase.    Using SMART planning to define your strategy was a unanimous choice.   Breaking the strategic plan into 5 year, 3 year and 1 year visions is paramount to success.  Sharing the plan with all your employees is another essential element because everyone on board has to be part of your plan says, Shantel Feltman, CEO Sitiris Research.

When putting the strategic plan together it should include the total structure of the company.  As you grown, your company structure will change.  What will that look like?  Identify employees that can grow with your company says Shantel and push them to take on the responsibilities.   Shantel knows this only too well.  Having to take a couple of years away from her business for breast cancer surgeries and recovery, she learned that people will step up to the plate if they are empowered and encouraged to do so.

Joni Lien, franchisor owner of Supperworks also found out the same thing as she was forced to take a break from her business to look after her terminally ill husband who was the chief operations officer.  Her team stepped up to the plate and now Joni has been getting back to her business but in a different role.  She is focusing business growth, while her team handles the operations side of the business.

Listen to your customers

For Debbie Gracie-Smith, founder of Cretos an International IT business that she has since sold said “it was listening to the customers of American Express when I worked there was the whole premise of starting my own successful company”.   Cretos filled the gap for her customers that American Express was not interested in filling.  Debbie says “Do the right thing and do work you are proud of”.

This also means making things right even if you make a loss and it’s not your fault. Having respect for the client.  In the case of Michelle Bailey, CEO of Blazing The Agency, this also meant covering up the mistake of a manager in her client’s business who signed off on a $60K print run with an error.  The error was fixed, the print run reworked and Blazing The Agency footed the bill so the client’s employee could save face.  Not every company would go that far, but Michelle believes the client is always right (even when they are wrong).   Michelle suggests making sure your clients are partners, not users.

And how does Michelle get it right for her clients?  Without a doubt, it’s “by active listening”.  “ How can you make sure your solution fits the client’s needs if you don’t understand what the problem is?” says Michelle.  Mirroring back to the client in their own words clarifies the problem.  If you don’t have the solution, recommend another company who can solve the client’s problem.

Hire for cultural fit and teach the skills

All the female founders stressed that building a team that gets what you are trying to do and buying into the strategic plan is paramount to success.  Don’t hesitate to remove toxic employees from your company.  It’s not the right fit for you or the employee.   They will be happier at a different kind of company.

Use technology to expand your business

This can mean so many different things.  It could be app based software to manage employee projects, it could be software to make the quoting process more efficient.  Or it might be database management to keep track of your strategic metrics.  Whatever it is, information at your fingertips is paramount to efficiency in all areas of your business.   Technology can also change your business focus from offline to online giving you more areas of growth towards a million dollars in revenue.

Read, read and read some more

Whether you are reading for ideas, productivity, business structure, success stories or client engagement, keep reading. Or to-day should we say watch videos, listen to podcasts and attend webinars.  But like anything else, keep the end goal in mind and educate yourself only on items that fit your strategic plan.

Keep focused and head on up to the million dollar club.  Let’s get the million dollar club up from 2% to 3% of women-led businesses in the next few years.   If your business already has a million dollars in revenue, and you would like to be interviewed for this new book “Startup to Superstar”, drop a comment below.

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Elaine Slatter is a Small Business Expert, founder of  XL Consulting Group and author of the popular book, “Fabulous Fempreneurship”, a complete business guide for women.  XL Consulting Group helps entrepreneurs with market planning, strategy, branding, web design and social media. She has over 30 years of executive business and marketing experience and is ready to help you rocket your business to success.  Elaine is passionate about mentoring women to become successful women entrepreneurs.   To find out more, visit XL Consulting Group or join the Fabulous Fempreneurship mastermind.

You can connect with Elaine on social media at:  Facebook Group | Twitter | Facebook

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