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3 Signs You Might Be Sabotaging Your Business Growth via @DevonMSmiley

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3 signs you're sabotaging your business growth

by Devon Smiley | Featured Contributor

When we’re building our businesses, there’s an endless list of things to do. We work hard to perfect our copy, earn those conversions, and delight our clients. We do and do and do and do…but still feel stuck.

How is it that with all of the time, effort and resources we pour into our business that we’re not seeing the success we’d hoped for?

It may be the market…but more often than not, it’s our mindset that’s doing us in.

Here are three misconceptions that are keeping you stuck, and the quick fixes to ditch them.

#1 That you shouldn’t talk about money

Money is a funny topic. It’s a fact of life that we need to earn it, and we need to spend it. But a lot of us clam up when it comes time to actually talk about it. Especially when that conversation is all about how much we charge as entrepreneurs.

If you’re hesitant to declare your pricing on your website, or hold off until the last possible moment in client consultations to bring up the cost of your packages – you’re holding back your business.

Sharing your pricing is an important step in educating your potential customers on what value should be placed on your product or service. It allows you to set expectations, and reinforce your appeal to your target market. Hide your price, and you’re likely to lose clients who assume you’re too expensive, and spend way too much time vetting clients who’ve assumed you were much less expensive.

Quick Fix: Update your website to include either a set price, or to indicate that ‘pricing starts from $xxxx’.

#2 That you can’t ask for changes

As your business grows, you’ll find yourself working on a variety of projects, with clients of all different sizes. And when this growth takes you into the ‘Big Leagues’ of working with a large client, you may stumble. Too often, a small business will assume that they can’t ask for changes to a contract proposed by a large company. You may assume that it ‘just is what it is’, or that you should ‘just take what you can get’. This thinking, and the resulting lackluster agreements will actually be what’s keeping your business small.

Every contract, business deal or relationship has room for negotiation. Speaking up, and asking for changes to a document will help you ensure that you’re being paid enough, that your work is being protected, and that you’re able to deliver your best-possible work to the client, drama-free.

Quick Fix: Take a post-it and list out the 3 must-haves for your business when it comes to doing your best work. Keep it at your desk, and make (at least) these 3 requests in each future contract.

#3 That more clients = better business

It’s easy to buy into the idea that if we’ve got a long roster of clients, we can declare our business a success. We hear it all around us – and it can be especially loud in the online entrepreneurial world. But climbing onto this hamster wheel of trying to attract as many customers as possible holds us back from really growing our business – because the truth is that it’s not about having lots of clients, it’s about having the best clients. Quality over quantity. By being choosier about who you work with, setting strong boundaries around the type of work you’ll do, and becoming bold in asking for fees that reflect the value you’re providing, you’re going to be building a business that maximizes your revenues, and frees up time for you to either devote to more fantastic clients, or re-invest in your business.

Quick Fix: Look through your client roster, and identify 1 or 2 clients that aren’t a great fit, and list out the reasons why. Use this cheat-sheet when speaking with potential clients as a way to catch a lack of compatibility early on.

Which of these misconceptions have shown up for you? Is there a Quick Fix that you can put in place today to get your business unstuck, and on the path to growth? What mindsets have you had to shake off in order to do your best work as an entrepreneur?

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Devon Smiley – Negotiation Consultant

Devon Smiley - Negotiation CoachWith over a decade of corporate experience, Devon has negotiated $1000 product returns, multi-million dollar procurement deals -and everything in between. Her experience is distilled into spot-on analysis and actionable advice for companies of all sizes, bringing them the benefit of her laser focus on results and strong strategy development skills.

Devon is a firm believer that no business is ever too small to negotiate, and she gets a kick out of helping entrepreneurs uncover ways to bump their results up a notch (or two!), and build the skills and confidence they need to ask for – and get – what they need to achieve their best yet results. Knowing that many entrepreneurs struggle with figuring out how negotiation can help them move their business forward, Devon created the ‘3 Must Do Business Boosters’ guide to jumpstart the process.

First Quarter Close Out: Got Commitment and Results? by @WSRapport

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by Karima Mariama-Arthur, Esq | Featured Contributor

We’re now in the final month of the first quarter. For some, this may cause feelings of uneasiness, especially if you’re not where you thought you’d be. You’ve probably spent a significant amount of time crafting your goals. Surely you had every intention of achieving them, right? But now, as the rubber meets the road, how will you assess your results?

Before you close out the first quarter, take a moment to examine your commitment to results and lay the foundation for the remainder of the year by observing this critical check-in.

Here are three important steps in the process:

1. Ask yourself whether you still really want it.

Whatever your goals are, they need to remain relevant, or there’s no reason to continue the pursuit. Goals created in the short-term do not necessarily remain relevant over time. And, that’s ok. The most important thing is to assess whether your goals still make sense in the present and in the context of where you are headed. Do you still really want what you envisioned? Maybe you do, but the landscape may have changed. If not, then get clear on why the goals may no longer be appropriate. Whatever the case, ask the hard questions. You need to know whether the goals you’ve selected merit the extra effort.

2. Check doubt and at door.

Once you have redefined your goals and determined your level of commitment towards each, clear the path of doubt. Decide that you will succeed and cut off any other possibility. Reach for the the strategies and resources that will help to support your success and take your results to the next level. Don’t allow self-doubt (or the uncertainty of others) to influence your thinking. When you feel doubt creeping in, remember what the goal represents and what it will feel like to get to the other side. Master your thinking and the distance to your results will be cut in half.

3. Get in the trenches.

Your conviction is clear: You really want it and you’ve checked doubt at the door. Now the real work begins. Roll up your sleeves and get prepared to fight on the front lines to bring your dreams into fruition. Armed with strong conviction, you may feel like you’ve got the force of a mighty army behind you. But do have the stomach for a real fight? Giving birth to your dreams may bring on one of the toughest fights of your life. You need to be prepared for it. No one promised the road to success would be easy or that you wouldn’t experience hardship along the way. Ups and downs are par for the course. Are you ready to battle for your success? If so, hold tight to your commitment and reach for your results.

You can close out this first quarter with greater commitment to the results you envisioned for 2015. Step back. Reassess. And move forward with a strong sense of urgency.

To your success!

Photo Credit: Stuart Miles via FreeDigitalPhotos.net.

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Karima Mariama-Arthur, Esq.Karima Mariama-Arthur, Esq. – Expert Facilitator and Professional Development Consultant –Washington, DC

Founder and CEO, WordSmithRapport

As the Founder and Chief Executive Officer of WordSmithRapport™, Karima brings more than two decades of comprehensive, blue chip experience in law, business, and academia to the field of professional development. A leading authority in cutting-edge adult education and professional development, Karima is distinguished by her commitment to excellence and extraordinary talent for elevating executive brands. As an expert facilitator, executive communications consultant, and strategic leadership advisor, she trains, coaches, and consults individuals and organizations on the dynamics of complex communication and high performance leadership competence.

Karima is a Distinguished Toastmaster, United States Senate and a Corporate Speaker, certified by the International Association of corporate speakers.

Karima is the author of Get out of Your Way & Stop Sabotaging Your Success and the highly anticipated Boardroom Talking Points: A Guide to Polished Communication for Executives. A regular contributor to numerous high-profile media outlets, she has clarified the discussion on professional development as a leadership imperative. Karima is also featured on She Source, an online braintrust of female experts on diverse topics designed to serve journalists, producers, and booking agents who seek female guests and sources.

A Cornell Fellow and graduate of the University of California, Davis, and Roger Williams University School of Law, Karima enjoys helping young adults to increase self-confidence through communication and leadership excellence when not coaching executives.

Follow Karima on Twitter: @wsrapport or visit her Website, WordSmithRapport.com.

This Year’s Success Is Hidden In These Numbers by @KendraLeeKLA

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by Kendra Lee

This Year’s Success Is Hidden In These NumbersIt’s that time of year again when we all turn to goal setting. And it’s not just because it’s the beginning of the year and people are setting New Year’s resolutions to exercise more, eat more healthily, and spend more time with family. In our business lives, the start of a new fiscal year causes us to look ahead to what we want to accomplish in the new year.

I’m not one to set New Year’s resolutions. It won’t surprise you to learn that I don’t believe you have to wait until January 1st to set resolutions that will change your personal or professional path. I also don’t believe that you have to wait until January 1st to start what you know needs to be done.

“Do it now!” is my motto.

Most recently I set goals in October, announcing to my team that the next 12 months will be a year of numbers. The salesperson in me would love to be spontaneous and make decisions based on my gut instincts. But the business owner in me knows that your gut can only take you so far before you must confirm and adjust your direction based on the numbers.

And it’s never been easier to track numbers whether you’re a business owner, salesperson or marketer.

It seems that CRM, email, marketing automation, accounting and operations applications all track just about everything you can imagine. Why not use those numbers to our advantage?

So, this year my goal is to use the numbers available to us to guide our business. Here are the top 4 numbers that I’ll be monitoring:

1 Profitability and monthly revenue, of course. Every business owner has to monitor these. I also have my team leads monitoring them because frankly, why should I shoulder all the risk?

2 Lead generation campaign metrics from clicks, views and downloads to conversions and closes. People tell us they love our content. The metrics confirm specifically what they love and help me determine our content and solution offerings direction.

3 Prospecting metrics including appointments set, length of the sales process and closes. As authorities in prospecting, I have to constantly research what’s working and what’s not. But we’re a business, too, and every business needs a consistent influx of new clients.

4 Social conversion, monitoring discovery, engagement and conversion. Social networking is a necessarily piece of business today and consumes resources to do it right. I want to be sure it’s not just “right” but also generating revenue.

Even if numbers don’t seem as fun as gut instincts, they provide insights that will allow you to quickly shift your business without waiting for the next New Year. What numbers are in your goals this year?

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kendra leeKendra Lee is a Top 50 Sales & Marketing Influencer. She is a Prospect Attraction Expert, president of KLA Group, and author of the new book The Sales Magnet and the award-winning book Selling Against the Goal. Specializing in the IT industry, KLA Group helps mid-market companies break through tough prospecting barriers to get more customers. Ms. Lee is a frequent speaker at national sales meetings and events. To find out more about the author and her “Get More Customers” strategies, visit www.klagroup.com or call +1 303-741-6636.

5 Ways to Make 2015 Your Best Year Yet! by @SandraDawes

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Charles Kettering quote for SOI

by Sandra Dawes | Featured Contributor 

Tis the season to wrap up the year coming to an end and get ready for a brand new one! I love the New Year because I always feel like it’s a fresh start, a clean slate to do things differently, better, than the year before. Please feel free to share your tips for a fabulous New Year in the comments below. Here are my 5 suggestions to make 2015 the best year yet.

1. Celebrate your accomplishments

This is something that I started to do several years ago. On New Year’s Eve, before any festivities begin, I grab my journal and list all of the things that I accomplished during the current year. They don’t all have to be monumental goals, but you’ll probably be pleasantly surprised by all that you’ve done, even if you think you didn’t have such a stellar year.

2. Review what worked and what didn’t

We’ve all heard it said that the definition of insanity is doing the same things and expecting different results. If we don’t take the time to look at the systems and strategies that worked and evaluate the ones that didn’t we might end up making the same mistakes again next year. Don’t beat yourself up about the failures, but do learn from them. What can you do differently next time?

3. Identify at least 3 things you intend to accomplish in the New Year

What would an article about the New Year be without talking about setting goals? They don’t all have to be about your business. Throw some personal goals in the mix too. When we’re at our best, we do our best. Achieving personal goals can help you be more effective in your business as well so don’t forget to take care of yourself when setting your intentions for 2015.

4. Choose at least one skill to upgrade or learn

If we’re not learning, we’re not growing. I’m a firm believer and strong supporter of continuing education. We can never possibly know all there is to know, even in areas that we’ve mastered. Whether it has to do with your business or not, learning a new skill or learning how to do something you already know in a different way, expands our minds and opens us up to new opportunities that we might not have known existed otherwise. My 9 year-old lab/border collie mix is a constant reminder that you’re never too old to learn and you actually can teach an old dog new tricks!  😉

5. Create a 90-day action plan

If you work out regularly, I’m sure you’ve witnessed the popularity of your local work out spot in January and the decline in attendance as we head into February. It’s why I no longer believe in New Year’s Resolutions. We can’t just say we’re going to start doing, or stop doing something; we have to figure out how we’re going to do it. In addition to that, we have to make sure we’re committed to our goals and make sure that it’s a goal that is important to us, and not something someone else wants us to do. The action plan doesn’t have to be perfect, but it definitely helps to have one. If you want to increase the effectiveness of the plan, share it with someone you know will hold you accountable.

The end of the year can be a bittersweet time for many of us. It’s easy to focus on the things that didn’t go the way we hoped or expected rather than on the things that worked out, sometimes even better than we had planned. Whether this year was phenomenal or lackluster, celebrate the fact that you survived another year and know that the coming year can always be better.

May 2015 be a year filled with great health, peace and prosperity! ♥

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Sandra Dawes, Founder, Life Coach, Embrace Your DestinySandra Dawes is a recovering control freak and excuse maker, as well as founder of Embrace Your Destiny, her life coaching practice. Her work involves teaching women how to stop making arguing for their limitations so that they can create the life that they want. Sandra’s inspiration to help others in this area comes from her own journey and experiences in dealing with the heartbreak of losing her father. She published her first book Embrace Your Destiny: 12 Steps to Living the Life You Deserve, a story that outlines her personal journey, in November 2013.

In her down time, Sandra loves to read, do yoga and spend time with her partner Satnam and their dog Lulu. For more information on what she does, visit www.embraceyourdestiny.ca.

What to Do Next When Your 5-Year Business Plan Comes to a Close by @DeborahSweeney

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by Deborah Sweeney, CEO of MyCorporation.com

Writing a 5-year plan is usually the very first step in the occasionally stressful but always rewarding road of business ownership. One of the biggest problems with most 5-year plans is that you are sort of flying by the seat of your pants when you write it out. Until you actually run a business, you have no idea what type of obstacles you’ll face, or even what you can achieve. A 5-year plan is often based on cursory research, some hope, and a bit of guesswork. At the end of your first five years, you should look back on your original plan to see how far you’ve come, then figure out what you need to work on for the next 5 years to come by doing the following five things:

1. Identify new goals.

After the first five years, the rate of failure for small businesses decreases dramatically. If you’ve made it past the five year mark, your business has shown that it can be profitable, which was likely one of your main goals. But what were your other ones? Did you set out to increase your market by a certain percent? Did you want to pay back a good chunk of your business loan? Check off whatever goals you met, and focus on the goals you didn’t meet, or want to build on. Doing this may seem a bit obvious, but actually looking at a hard copy of your goals is an excellent way to help focus your company and define your growth strategy.

2. Reevaluate what’s working and what isn’t.

When you run a successful business you can sometimes get stuck in a ‘if it isn’t broken, don’t fix it’ mindset. It can be a bit unnerving to fiddle around with the inner workings of the company if, thus far, all of the elements seem to be aligning and working well enough together. But if you refuse to fix or ignore a problem in the business, that problem will rear its head and could be a lot more destructive. If you feel like something isn’t working, be it marketing, accounting, employee relations, or stocking methods, now would be a good time to fix that problem.

3. Take a look at your competition.

Your market and industry has probably changed quite a bit over the past five years. Competing businesses have fallen, and new ones have popped up to take their place. Take a look at the industry and your competitors to see what everyone is up to. Doing so will help you to continue to stand out from the crowd, and could also reveal new ways to remain competitive within the industry.

4. Make sure your finances and paperwork are in order.

After five years, you’ll probably have an excellent accounting system in place, but it never hurts to perform a sort of self-audit and see exactly where you stand financially. The five-year mark is also a good time to make sure any state paperwork that needs to be renewed has been – some states, for example, require businesses to renew their trade name (DBA) every five years. If you’re still chugging along with the default sole-proprietorship structure, think about forming a separate entity for your business so you can protect your personal assets and allow your business to carry its own debt.

5. Grow!

Stagnation is your business’s enemy, so never stop fighting it and always try to grow in some way. Growth goals can be as simple as making more money or finding more customers, but they can also be a bit more abstract, like introducing a new marketing strategy or learning more about entrepreneurship. As long as you are always aiming for bigger and better, neither you nor your company will stagnate.

Making it past the five year mark is a real accomplishment, but it is too easy to start resting on your laurels and assuming your success will continue without any further effort. You are always going to face challenges as a business owner, though those challenges may change from the ones you dealt with when you first started. Use that old five year plan to figure out what you’ve done well and what needs work, and then try to improve on both. And don’t forget to enjoy your success – you’ve earned it!

Photo Credit: ‘SeraphimC via Compfight cc

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About the Author:

Deborah SweeneyDeborah Sweeney is the CEO of MyCorporation.com. MyCorporation is a leader in online legal filing services for entrepreneurs and businesses, providing start-up bundles that include corporation and LLC formation, registered agent, DBA, and trademark & copyright filing services. MyCorporation does all the work, making the business formation and maintenance quick and painless, so business owners can focus on what they do best. Follow her on Google+ and on Twitter @deborahsweeney and @mycorporation.