The Role You Play
There's a term in business called Corporate Governance that refers to the way a business is "governed." A large corporation is typically governed by a CEO, with managers reporting to him and "technicians," or people who perform more technical or specialized tasks, reporting to the managers.
But in small business, these three roles often are done by the same person: the company founder. In the beginning stages of a business, this is OK and in some cases, there is no choice. But as a business grows -- and if you want your business to grow -- these three roles should be handled by three different people charged with very different responsibilities.
The CEO assumes the leadership role, advocates change, makes decisions and is the "visionary" for the company.
The manager is responsible for making sure everyone has everything they need to do their jobs efficiently and effectively.
The technician is the person with the special skill or knowledge that is core to the business, i.e., the dentist at a dental practice or the graphic designer at a graphic design business.
What role do you play in your own business? If it's all three, or even two of these roles, it may be time to look at delegating some of your responsibilities. I would be happy to assist you in your evaluation. Please feel free to contact me for more information, Tom Long, 708-524-0886, SolidOakConsulting.com.
Wednesday, December 28, 2011
Wednesday, December 21, 2011
Guerrilla Marketing Makes Good 'Cents'
Guerrilla Marketing Makes Good 'Cents'
In a good or poor economy, Guerrilla Marketing is a great method for businesses to market their goods and services. Guerrilla Marketing is effective for three reasons:
Because of big business downsizing, decentralization, relaxation of government regulations, affordable technology, and a revolution in consciousness, people around the world are gravitating to small business in record numbers.
Small business failures are also establishing record numbers and one of the main reasons for the failures is a failure to understand marketing.
Guerrilla marketing has been proven in action to work for small businesses around the world. It works because it's simple to understand, easy to implement and outrageously inexpensive.
For for more information about Guerrilla Marketing, please contact me, Tom Long, 708-524-0886, SolidOakConsulting.com
In a good or poor economy, Guerrilla Marketing is a great method for businesses to market their goods and services. Guerrilla Marketing is effective for three reasons:
Because of big business downsizing, decentralization, relaxation of government regulations, affordable technology, and a revolution in consciousness, people around the world are gravitating to small business in record numbers.
Small business failures are also establishing record numbers and one of the main reasons for the failures is a failure to understand marketing.
Guerrilla marketing has been proven in action to work for small businesses around the world. It works because it's simple to understand, easy to implement and outrageously inexpensive.
For for more information about Guerrilla Marketing, please contact me, Tom Long, 708-524-0886, SolidOakConsulting.com
Wednesday, December 14, 2011
What A Recession Can Cost You
What A Recession Can Cost You
During a recession, many businesses, acting out of fear, start to put up barriers. They make short-sighted decisions that affect the long-term relationships they have built with their customers.
For instance, they decide to cut vital customer-service staff in an effort to save money. But instead of saving money, it ends up costing them because these kinds of decisions affect their ability to serve their customers well. Smart businesses realize this and make an effort to take extra good care of their customers during a recession. Customers will always remember that you took extra care of them during a tough time.
When you make cost-cutting decisions in your business, make sure to look at the long-term effects it may have. You can't afford to lose customers, especially during a recession.
Tom Long, 708-524-0886, SolidOakConsulting.com.
During a recession, many businesses, acting out of fear, start to put up barriers. They make short-sighted decisions that affect the long-term relationships they have built with their customers.
For instance, they decide to cut vital customer-service staff in an effort to save money. But instead of saving money, it ends up costing them because these kinds of decisions affect their ability to serve their customers well. Smart businesses realize this and make an effort to take extra good care of their customers during a recession. Customers will always remember that you took extra care of them during a tough time.
When you make cost-cutting decisions in your business, make sure to look at the long-term effects it may have. You can't afford to lose customers, especially during a recession.
Tom Long, 708-524-0886, SolidOakConsulting.com.
Wednesday, November 30, 2011
Preparing For The Rebound
Preparing For The Rebound
It's understandable to feel a little discouraged as you watch what's happening with our economy these days. Some of us are feeling the effects directly, while others are not. Either way, the one thing we know is that the economy will improve. The question is: Will you be ready for it when it does?
There are several areas of your business that you should focus on right now to prepare your business for an economic recovery.
Sales. Hopefully, you haven't let your good salespeople go. But if you did, devise a plan for hiring new ones, or rehiring past ones, as soon as your finances allow. Your sales department will be crucial to building up your business once the economy recovers.
Marketing. Many businesses slash their marketing budgets during a recession. But if there was ever a time you need to promote your business, it's now. Nevertheless, sometimes it can't be avoided. If that was the case for your company, try to start investing in your marketing as soon as possible. If money is tight, you may want to try Guerrilla Marketing (below) if you don't already.
Human Resources. Take advantage of this downtime by training your staff so they'll be prepared for an increase in business. Also, there are a lot of great people out on the market right now; see what you can do about getting them on your staff.
Unfortunately, there is no telling exactly when this recovery will occur, but we know from history that it will happen. If Solid Oak Consulting can help you with an economic recovery plan for your business, please contact me Tom Long 708-524-0886, SolidOakConsulting.com.
It's understandable to feel a little discouraged as you watch what's happening with our economy these days. Some of us are feeling the effects directly, while others are not. Either way, the one thing we know is that the economy will improve. The question is: Will you be ready for it when it does?
There are several areas of your business that you should focus on right now to prepare your business for an economic recovery.
Sales. Hopefully, you haven't let your good salespeople go. But if you did, devise a plan for hiring new ones, or rehiring past ones, as soon as your finances allow. Your sales department will be crucial to building up your business once the economy recovers.
Marketing. Many businesses slash their marketing budgets during a recession. But if there was ever a time you need to promote your business, it's now. Nevertheless, sometimes it can't be avoided. If that was the case for your company, try to start investing in your marketing as soon as possible. If money is tight, you may want to try Guerrilla Marketing (below) if you don't already.
Human Resources. Take advantage of this downtime by training your staff so they'll be prepared for an increase in business. Also, there are a lot of great people out on the market right now; see what you can do about getting them on your staff.
Unfortunately, there is no telling exactly when this recovery will occur, but we know from history that it will happen. If Solid Oak Consulting can help you with an economic recovery plan for your business, please contact me Tom Long 708-524-0886, SolidOakConsulting.com.
Wednesday, November 23, 2011
Get 'Blogged' Down
Get 'Blogged' Down
A great way to generate your own publicity these days is through a blog. A blog is an inexpensive, do-it-yourself forum that many businesses are using to get their name out. Many businesses are making the most of this opportunity. You can start a blog about any topic that you want. If you want to promote your business, it's a good idea to write about your business expertise. But even blogs about personal interests can drum up business for you.
With a blog, you can:
Create your own interactive community. People can find your blog through a search engine, or you can invite certain people to participate.
Improve your chances of being pulled up in a search engine.
Generate your own buzz and control the message you put out there.
You can find a lot of information online to help you start your own blog. One of the more common blogs is wordpress.com.
Tom Long 708-524-0886, SolidOakConsulting.com.
A great way to generate your own publicity these days is through a blog. A blog is an inexpensive, do-it-yourself forum that many businesses are using to get their name out. Many businesses are making the most of this opportunity. You can start a blog about any topic that you want. If you want to promote your business, it's a good idea to write about your business expertise. But even blogs about personal interests can drum up business for you.
With a blog, you can:
Create your own interactive community. People can find your blog through a search engine, or you can invite certain people to participate.
Improve your chances of being pulled up in a search engine.
Generate your own buzz and control the message you put out there.
You can find a lot of information online to help you start your own blog. One of the more common blogs is wordpress.com.
Tom Long 708-524-0886, SolidOakConsulting.com.
Wednesday, November 16, 2011
Publicity: Make Sure You're 'Covered'
Publicity: Make Sure You're 'Covered'
No matter what type of business you're in, you need people to know about you. You can gain exposure through a variety of ways, some of which cost money and others that do not. In light of the recent economic conditions, I'd like to focus on one of the "free" options that are available to you.
Public relations, also known as PR, means gaining publicity through topics of public interest or the news, rather than through advertising and other paid promotional efforts. Many business people think PR is something that can only be done with the help of a PR expert. While PR experts do have a specialized knowledge of how they can gain exposure for their clients, it is possible to do your own PR. Here are a few ways:
Make yourself known in the community. When something happens with your business - an expansion or a new hire - send a press release to the local newspapers to inform them of your news. They may either print the release or follow-up with you to write an article. Also try to take advantage of local sponsorship opportunities as a way to get your name out in the community.
Be a reliable source. When a member of the media calls you, always take his or her call. Being featured in an article is a great way to get some free PR. Be honest and patient with reporters and try to answer all their questions. Send them additional informational materials if you think it will help them with their article. If you aren't able to help them, try to direct them to someone who can help. By doing so, you will be putting yourself foremost in their minds and they will likely call you back again.
Establish yourself as an expert in your industry. These days, many reporters do their research online. If you have a strong website that features your published articles and whitepapers, they will call you for your comments on a particular article. Also, try to get published in any trade publications within your industry.
See if you can write for a publication. If you can offer valuable insight and are a good writer, you might actually get paid for an article you write while gaining some PR in the process.
There are many good online resources regarding public relations, including prweb.com and publicityinsider.com. Solid Oak Consulting can also assist you. For more information, please contact me Tom Long, 708-524-0886, SolidOakConsulting.com.
No matter what type of business you're in, you need people to know about you. You can gain exposure through a variety of ways, some of which cost money and others that do not. In light of the recent economic conditions, I'd like to focus on one of the "free" options that are available to you.
Public relations, also known as PR, means gaining publicity through topics of public interest or the news, rather than through advertising and other paid promotional efforts. Many business people think PR is something that can only be done with the help of a PR expert. While PR experts do have a specialized knowledge of how they can gain exposure for their clients, it is possible to do your own PR. Here are a few ways:
Make yourself known in the community. When something happens with your business - an expansion or a new hire - send a press release to the local newspapers to inform them of your news. They may either print the release or follow-up with you to write an article. Also try to take advantage of local sponsorship opportunities as a way to get your name out in the community.
Be a reliable source. When a member of the media calls you, always take his or her call. Being featured in an article is a great way to get some free PR. Be honest and patient with reporters and try to answer all their questions. Send them additional informational materials if you think it will help them with their article. If you aren't able to help them, try to direct them to someone who can help. By doing so, you will be putting yourself foremost in their minds and they will likely call you back again.
Establish yourself as an expert in your industry. These days, many reporters do their research online. If you have a strong website that features your published articles and whitepapers, they will call you for your comments on a particular article. Also, try to get published in any trade publications within your industry.
See if you can write for a publication. If you can offer valuable insight and are a good writer, you might actually get paid for an article you write while gaining some PR in the process.
There are many good online resources regarding public relations, including prweb.com and publicityinsider.com. Solid Oak Consulting can also assist you. For more information, please contact me Tom Long, 708-524-0886, SolidOakConsulting.com.
Wednesday, November 09, 2011
Creating An Action Plan
Over 30 years of business experience has shown me there are business basics which when mastered, result in success even for the small business start-up.
Solid Oak Consulting's Action Plan Program for business success is based on hard-won experience and research from many organizations including: the Institute for Independent Business, the Small Business Administration, Harvard Business School, the Stanford University Graduate School of Business, Inc. Magazine, the Economist, Dun and Bradstreet and the Coleman Entrepreneurial Center of De Paul University, among others.
The Action Plan Program begins with a comprehensive but rapid assessment of key functions and issues in the business. This assessment forms the basis for a set of action plans designed to focus effort and investment on the most critical areas for success.
One part of the Action Plan Program is a focus on repeatable processes. The technician worries about today. The manager worries about tomorrow. But an owner worries about a legacy - "What will happen when I'm gone?"
For more information on Solid Oak Consulting's Action Plan Program, call me, Tom Long 708-524-0886, solidOakConsulting.com.
Over 30 years of business experience has shown me there are business basics which when mastered, result in success even for the small business start-up.
Solid Oak Consulting's Action Plan Program for business success is based on hard-won experience and research from many organizations including: the Institute for Independent Business, the Small Business Administration, Harvard Business School, the Stanford University Graduate School of Business, Inc. Magazine, the Economist, Dun and Bradstreet and the Coleman Entrepreneurial Center of De Paul University, among others.
The Action Plan Program begins with a comprehensive but rapid assessment of key functions and issues in the business. This assessment forms the basis for a set of action plans designed to focus effort and investment on the most critical areas for success.
One part of the Action Plan Program is a focus on repeatable processes. The technician worries about today. The manager worries about tomorrow. But an owner worries about a legacy - "What will happen when I'm gone?"
For more information on Solid Oak Consulting's Action Plan Program, call me, Tom Long 708-524-0886, solidOakConsulting.com.
Wednesday, November 02, 2011
Let The Numbers Do The Work
Let The Numbers Do The Work
In marketing, you have to get to the bottom line quickly, and oftentimes, the best way to convey the bottom line is by using data.
Once you know what your unique selling proposition is, try to think of some numbers related to that particular aspect that would entice people to come to your business. If your unique selling proposition is your price, then you should advertise, for example, that your price is 20 percent lower than anyone in town. If you are a personal trainer and people come to you to lose weight, then advertise how much weight your clients typically lose.
Again, if you don't know which numbers to use, simply ask your existing clients what numbers matter most to them, and they will point you in the right direction.
Tom Long, 708-524-0886, SolidOakconsulting.com.
In marketing, you have to get to the bottom line quickly, and oftentimes, the best way to convey the bottom line is by using data.
Once you know what your unique selling proposition is, try to think of some numbers related to that particular aspect that would entice people to come to your business. If your unique selling proposition is your price, then you should advertise, for example, that your price is 20 percent lower than anyone in town. If you are a personal trainer and people come to you to lose weight, then advertise how much weight your clients typically lose.
Again, if you don't know which numbers to use, simply ask your existing clients what numbers matter most to them, and they will point you in the right direction.
Tom Long, 708-524-0886, SolidOakconsulting.com.
Wednesday, October 26, 2011
Focus on the Future
Focus On The Future (And The Past)
If you're like most business people, when you're planning for the new year by working on your budgets and marketing plans you focus on the very near term and the future. And while it's important to focus on the future, it's equally as important to reflect on the history of your business and what has made it succeed so far.
Ask yourself: What is it that has distinguished my company from the competition? The answer to this question is called a Unique Selling Proposition, and it should be the foundation of everything you do in marketing.
If you don't know why your clients choose your business over your competition, then simply ask them. Even if you think you know, ask them anyway because their answer may surprise you.
Once you have identified what your unique selling proposition is, you'll know what direction to take with your marketing strategy and the image and identity that you try to create. For instance, if you are a builder and your clients come to you for your craftmanship, then that's what your marketing messages should convey, not that your price is low or that you complete jobs quickly (even if you offer those benefits as well).
Solid Oak Consulting can help you work on your unique selling proposition. For more information, please contact me, Tom Long, 708-524-0886, SolidOakConsulting.com.
If you're like most business people, when you're planning for the new year by working on your budgets and marketing plans you focus on the very near term and the future. And while it's important to focus on the future, it's equally as important to reflect on the history of your business and what has made it succeed so far.
Ask yourself: What is it that has distinguished my company from the competition? The answer to this question is called a Unique Selling Proposition, and it should be the foundation of everything you do in marketing.
If you don't know why your clients choose your business over your competition, then simply ask them. Even if you think you know, ask them anyway because their answer may surprise you.
Once you have identified what your unique selling proposition is, you'll know what direction to take with your marketing strategy and the image and identity that you try to create. For instance, if you are a builder and your clients come to you for your craftmanship, then that's what your marketing messages should convey, not that your price is low or that you complete jobs quickly (even if you offer those benefits as well).
Solid Oak Consulting can help you work on your unique selling proposition. For more information, please contact me, Tom Long, 708-524-0886, SolidOakConsulting.com.
Wednesday, October 19, 2011
Focus on Your Systems
Focus on Your Systems
One of the most important distinctions is the difference between a business and a job. Too many professionals and small-business owners think they own and run a 'business' when what they've actually done is create their own job.
Now, let's be clear - there is nothing wrong with having a job! Some business coaches give the impression that having a job is 'less than' owning a business, and I don't feel that way. For many people, in many situations, a job suits them and is the best thing for them. If you prefer a job to running your own business, good for you!
Tom Long, 708-524-0886, SolidOakConsulting.com.
One of the most important distinctions is the difference between a business and a job. Too many professionals and small-business owners think they own and run a 'business' when what they've actually done is create their own job.
Now, let's be clear - there is nothing wrong with having a job! Some business coaches give the impression that having a job is 'less than' owning a business, and I don't feel that way. For many people, in many situations, a job suits them and is the best thing for them. If you prefer a job to running your own business, good for you!
Tom Long, 708-524-0886, SolidOakConsulting.com.
Wednesday, October 12, 2011
Documenting Your System
Documenting Your System
More than likely, you have systems in place at your business, whether you are conscious of them or not. But does anyone know what those systems are? If not, it's time to change that.
Putting your system down on paper is a good exercise for you to sit and really think about how your business works, and whether it is acceptable to you. Beyond that, it will allow your employees to understand how the business works so they can see the same 'big picture' that you see.
Tom Long, 708-524-0886, SolidOakConsulting.com.
More than likely, you have systems in place at your business, whether you are conscious of them or not. But does anyone know what those systems are? If not, it's time to change that.
Putting your system down on paper is a good exercise for you to sit and really think about how your business works, and whether it is acceptable to you. Beyond that, it will allow your employees to understand how the business works so they can see the same 'big picture' that you see.
Tom Long, 708-524-0886, SolidOakConsulting.com.
Friday, October 07, 2011
Do You Have A System
Do You Have a System?
When some small-business owners hear the word system, they think, "That's only what big companies use." But every company, whether big or small, has a system.
A great example of how a system works is the human body. The skeletal system holds the body up and the respiratory system delivers oxygen to the blood so that the blood can deliver oxygen to the rest of the body. If the respiratory system is not working, neither will the skeletal system, or any system for that matter. All the systems in the body work together.
The same is true when it comes a business system. Without a sales system to get new business, there would be no need for an accounting system to collect account receivables, etc.
Every successful business has a system and subsystems that keep it functioning. It's important to realize what systems you have in your business for a number of reasons.
Accountability . When you have a system, you know who is supposed to do what. So when something goes wrong, you simply look at the system and determine who is responsible, or whether a new system should be established.
Management. When a system is in place, you don't have to micro-manage or hold everyone's hand. The system is there to guide your employees.
Profitability. Getting your systems to work in conjunction with each other can affect your bottom line. For instance, if your marketing system works in conjunction with your inventory system, you'll know exactly how much of one product you will need. If not, the marketing department would put a product on sale, but the inventory department would run out of the product. As a result, the customers would get frustrated and choose to go elsewhere next time.
Time to sell . If, one day, you are looking to sell your business, the prospective buyer will no doubt be interested in your business systems and how effective they are.
Solid Oak Consulting can help you define or refine your business systems. For more information, please contact me, Tom Long, 708-524-0886, SolidOakConsulting.com.
When some small-business owners hear the word system, they think, "That's only what big companies use." But every company, whether big or small, has a system.
A great example of how a system works is the human body. The skeletal system holds the body up and the respiratory system delivers oxygen to the blood so that the blood can deliver oxygen to the rest of the body. If the respiratory system is not working, neither will the skeletal system, or any system for that matter. All the systems in the body work together.
The same is true when it comes a business system. Without a sales system to get new business, there would be no need for an accounting system to collect account receivables, etc.
Every successful business has a system and subsystems that keep it functioning. It's important to realize what systems you have in your business for a number of reasons.
Accountability . When you have a system, you know who is supposed to do what. So when something goes wrong, you simply look at the system and determine who is responsible, or whether a new system should be established.
Management. When a system is in place, you don't have to micro-manage or hold everyone's hand. The system is there to guide your employees.
Profitability. Getting your systems to work in conjunction with each other can affect your bottom line. For instance, if your marketing system works in conjunction with your inventory system, you'll know exactly how much of one product you will need. If not, the marketing department would put a product on sale, but the inventory department would run out of the product. As a result, the customers would get frustrated and choose to go elsewhere next time.
Time to sell . If, one day, you are looking to sell your business, the prospective buyer will no doubt be interested in your business systems and how effective they are.
Solid Oak Consulting can help you define or refine your business systems. For more information, please contact me, Tom Long, 708-524-0886, SolidOakConsulting.com.
Wednesday, September 28, 2011
Seizing Opportunities
Seizing Opportunities
When money gets tight, you certainly want to cut some areas of your budget, but not every area. In fact, many reputable companies look to grow their market share during a negative economy. Your business can also increase its market share by focusing on these three areas:
Marketing. So many businesses start slashing their marketing budgets when money gets tight. But when you think about it, this practice is counterproductive. Don't you want to bring in new business at a time like this? While you should certainly re-evaluate how effective your marketing weapons are and cut which ones are not working for you, you should not cut them all.
Training.You have to stay on top of what's happening in your industry. By not continuing to invest in training, you may be giving business away to your competition. And, if you do invest in training and your competitor does not, you will have the competitive edge.
Recruiting.Always keep your eye out for good employees. And, you may need to hire a few good employees if you let your poor-performing employees go (No. 3 in the above article).
By making the most out of a bad situation, you may not only help your business survive, but you may also have positioned it for a promising future.
Contact me for more: Tom Long 708-524-0886, SolidOakConsulting.com.
When money gets tight, you certainly want to cut some areas of your budget, but not every area. In fact, many reputable companies look to grow their market share during a negative economy. Your business can also increase its market share by focusing on these three areas:
Marketing. So many businesses start slashing their marketing budgets when money gets tight. But when you think about it, this practice is counterproductive. Don't you want to bring in new business at a time like this? While you should certainly re-evaluate how effective your marketing weapons are and cut which ones are not working for you, you should not cut them all.
Training.You have to stay on top of what's happening in your industry. By not continuing to invest in training, you may be giving business away to your competition. And, if you do invest in training and your competitor does not, you will have the competitive edge.
Recruiting.Always keep your eye out for good employees. And, you may need to hire a few good employees if you let your poor-performing employees go (No. 3 in the above article).
By making the most out of a bad situation, you may not only help your business survive, but you may also have positioned it for a promising future.
Contact me for more: Tom Long 708-524-0886, SolidOakConsulting.com.
Wednesday, September 21, 2011
When Times Get Tough ...
When Times Get Tough ...
It's easy to feel a little helpless with what's happening with our economy. But the good news is that not all businesses are in financial trouble right now, and there is plenty that you can do to keep your business financially stable.
Paying bills when times get tough, our instincts tell us to cut where we can. This is a good idea as long as you cut from the right spots. Here are three areas that you may want to consider trimming:
Vendor contracts. Examine the terms of your contracts to make sure you're getting the best deal possible. It's amazing how much money you can save when you do a little research. And, you may find that your existing vendors may be willing to negotiate with you knowing they may lose your business to someone else.
Clients. This may be hard to believe, but you may have clients who cost more than they are worth. If you aren't making a reasonable profit, or a profit at all, from every client, it may be time to refer some of them elsewhere.
Poor-performing employees. In a shaky economy, you cannot afford to keep employees who aren't performing up to your standards. Hard workers are easy to come by these days, so don't settle for people who are not working hard for you.
Economists tell us this rough economic time will pass and history has proven this to be true. If there is anything I can do to help your business get through this economic malaise, please contact me, Tom Long 708-524-0886, SolidOakConsulting.com.
It's easy to feel a little helpless with what's happening with our economy. But the good news is that not all businesses are in financial trouble right now, and there is plenty that you can do to keep your business financially stable.
Paying bills when times get tough, our instincts tell us to cut where we can. This is a good idea as long as you cut from the right spots. Here are three areas that you may want to consider trimming:
Vendor contracts. Examine the terms of your contracts to make sure you're getting the best deal possible. It's amazing how much money you can save when you do a little research. And, you may find that your existing vendors may be willing to negotiate with you knowing they may lose your business to someone else.
Clients. This may be hard to believe, but you may have clients who cost more than they are worth. If you aren't making a reasonable profit, or a profit at all, from every client, it may be time to refer some of them elsewhere.
Poor-performing employees. In a shaky economy, you cannot afford to keep employees who aren't performing up to your standards. Hard workers are easy to come by these days, so don't settle for people who are not working hard for you.
Economists tell us this rough economic time will pass and history has proven this to be true. If there is anything I can do to help your business get through this economic malaise, please contact me, Tom Long 708-524-0886, SolidOakConsulting.com.
Wednesday, September 14, 2011
Mapping Out Your Future
Mapping Out Your Future
If your survival needs are taken care of - food, shelter, relative safety - chances are excellent that you have at least one or more goals you'd like to see blossom into reality. Your goals might be related to your housing, location, wellness, relationships, livelihood or something else.
Yet, many people who want to create new outcomes or new realities sabotage themselves from the beginning by failing to realize that if you want new outcomes, you need new road maps and routes.
The great physicist, Albert Einstein, said, "Insanity is doing the same thing over and over again and expecting different results."
He also said the problems you face can't be solved by the same level of thinking that created the problems in the first place. Jesus commented that you can't put new wine into an old wine-skin; the Buddha counseled that "with your thoughts, you make your world."
In other words, to change your reality or your outcomes, you must first transform your thoughts and your 'ways of doing' things.
Change your road maps and routes, and you'll arrive at new destinations - some you planned and some you only dreamed about.
To discuss further, contact Tom Long 708-524--0886, SolidOakConsulting.com
If your survival needs are taken care of - food, shelter, relative safety - chances are excellent that you have at least one or more goals you'd like to see blossom into reality. Your goals might be related to your housing, location, wellness, relationships, livelihood or something else.
Yet, many people who want to create new outcomes or new realities sabotage themselves from the beginning by failing to realize that if you want new outcomes, you need new road maps and routes.
The great physicist, Albert Einstein, said, "Insanity is doing the same thing over and over again and expecting different results."
He also said the problems you face can't be solved by the same level of thinking that created the problems in the first place. Jesus commented that you can't put new wine into an old wine-skin; the Buddha counseled that "with your thoughts, you make your world."
In other words, to change your reality or your outcomes, you must first transform your thoughts and your 'ways of doing' things.
Change your road maps and routes, and you'll arrive at new destinations - some you planned and some you only dreamed about.
To discuss further, contact Tom Long 708-524--0886, SolidOakConsulting.com
Wednesday, September 07, 2011
The Dynamics of Change
The Dynamics of Change
If you look at most successful businesses, you can attribute much of their success to their ability to embrace change. When they see a better or more efficient way of doing business, they do it. When the market changes, they adapt. When opportunities arise, they go after them.
planning Most successful businesses approach change using a system called change management. This means they follow a specific process for planning, implementing and adjusting to change. Basically, they control the change - change does not control them.
No matter how big or small your business, a change management system is crucial when implementing and managing change. Below are six essential steps of a successful and effective change management system.
Preparation . Identify the urgency for the change and communicate the need to those who will be affected by the change. Evaluate both positive and negative aspects of the change, and ascertain the true impact of the change.
Vision and Commentary. Since you likely will need support to implement the change, gather input from the people most affected. Use written and spoken communication to convey your vision to the stakeholders. They not only need to understand the change, they need to embrace it.
Strategy . Once you and your staff understand the change, develop a strategy for implementing it. Establish both short- and long-term goals throughout your plan to measure your progress and the effectiveness of your change management.
Tactics . Once you develop a strategy, establish tactics to achieve it. How will you implement the change? What procedure will your staff follow? Also, allow for a tactical withdraw and reorganization if your plan hits a roadblock.
Implementation. Now it's time to employ your tactics. Implement the change while following your strategy and using your tactics. Monitor the change and continue to manage it as it progresses through the change process. Your staff's input will be an important measure of the change's progress and effectiveness.
Adjustment. With every change comes the need for a period of adjustment. Both your employees, and possibly your clients, will need some time to adjust to and acclimate themselves to the change. Make sure your plan allows for these adjustments, whether it means phasing in employees and clients, or allocating money for extra training if needed.
A trusted business advisor who is experienced at managing organizational change can be critical to the success of your change. For more information about change management, contact Tom Long at Solid Oak Consulting.
Think: What Can Go Wrong?
If you want your change to go right, you have to think about how your change can go wrong. Thinking this way will allow you to handle those blips that often come with change, and even preventing those blips from happening in the the first place.
Change can affect many parts of your organization, even the ones not directly associated with the change. For instance, you may think changing computer systems only will affect your staff, but it also might affect your clients who may experience service delays as your staff adjusts to the new system. Examine change from a business-wide vantage point, and make sure all your employees are aware of and understand the change. You may even want to make clients aware so they can offer their insight and outside perspective. Being aware of and planning for the potential negative effects will streamline and strengthen the change itself.
As you progress through the change management process, always consider what can go wrong. Put yourself on the other side of the change and play devil's advocate. Thinking about the negatives will enhance the positives and keep the process moving forward.
If you look at most successful businesses, you can attribute much of their success to their ability to embrace change. When they see a better or more efficient way of doing business, they do it. When the market changes, they adapt. When opportunities arise, they go after them.
planning Most successful businesses approach change using a system called change management. This means they follow a specific process for planning, implementing and adjusting to change. Basically, they control the change - change does not control them.
No matter how big or small your business, a change management system is crucial when implementing and managing change. Below are six essential steps of a successful and effective change management system.
Preparation . Identify the urgency for the change and communicate the need to those who will be affected by the change. Evaluate both positive and negative aspects of the change, and ascertain the true impact of the change.
Vision and Commentary. Since you likely will need support to implement the change, gather input from the people most affected. Use written and spoken communication to convey your vision to the stakeholders. They not only need to understand the change, they need to embrace it.
Strategy . Once you and your staff understand the change, develop a strategy for implementing it. Establish both short- and long-term goals throughout your plan to measure your progress and the effectiveness of your change management.
Tactics . Once you develop a strategy, establish tactics to achieve it. How will you implement the change? What procedure will your staff follow? Also, allow for a tactical withdraw and reorganization if your plan hits a roadblock.
Implementation. Now it's time to employ your tactics. Implement the change while following your strategy and using your tactics. Monitor the change and continue to manage it as it progresses through the change process. Your staff's input will be an important measure of the change's progress and effectiveness.
Adjustment. With every change comes the need for a period of adjustment. Both your employees, and possibly your clients, will need some time to adjust to and acclimate themselves to the change. Make sure your plan allows for these adjustments, whether it means phasing in employees and clients, or allocating money for extra training if needed.
A trusted business advisor who is experienced at managing organizational change can be critical to the success of your change. For more information about change management, contact Tom Long at Solid Oak Consulting.
Think: What Can Go Wrong?
If you want your change to go right, you have to think about how your change can go wrong. Thinking this way will allow you to handle those blips that often come with change, and even preventing those blips from happening in the the first place.
Change can affect many parts of your organization, even the ones not directly associated with the change. For instance, you may think changing computer systems only will affect your staff, but it also might affect your clients who may experience service delays as your staff adjusts to the new system. Examine change from a business-wide vantage point, and make sure all your employees are aware of and understand the change. You may even want to make clients aware so they can offer their insight and outside perspective. Being aware of and planning for the potential negative effects will streamline and strengthen the change itself.
As you progress through the change management process, always consider what can go wrong. Put yourself on the other side of the change and play devil's advocate. Thinking about the negatives will enhance the positives and keep the process moving forward.
Wednesday, August 31, 2011
The Personal Side of Change
The Personal Side of Change
Many times, there are underlying reasons why someone in an organization resists change. I had an interesting situation a few years back that illustrates why it's important to remember how a change will affect your staff not only professionally, but personally as well.
A company I was working with wanted to computerize its bookkeeping system. The woman in charge of the department had worked there for many years and was viewed as the expert for anything associated with bookkeeping. This woman was used to keeping the books the old-fashioned way, on paper, and saw no need to change. Management felt that computerizing the bookkeeping system was more time- and cost-efficient, but she didn't see it that way.
As we dove deeper into the issue, what we realized was that she felt threatened by the change. She had always been the company expert on bookkeeping issues and since she wasn't comfortable with computers, she would feel out of control if the bookkeeping was computerized. So, to make her feel better and get her onboard with the change, she was the first person trained on the new system. That way, she would continue to be viewed as the company expert, which was important to her, and she would support the change, which was important to the company.
To discuss, contact me at SolidOakConsulting.com or 708-524-0886.
Many times, there are underlying reasons why someone in an organization resists change. I had an interesting situation a few years back that illustrates why it's important to remember how a change will affect your staff not only professionally, but personally as well.
A company I was working with wanted to computerize its bookkeeping system. The woman in charge of the department had worked there for many years and was viewed as the expert for anything associated with bookkeeping. This woman was used to keeping the books the old-fashioned way, on paper, and saw no need to change. Management felt that computerizing the bookkeeping system was more time- and cost-efficient, but she didn't see it that way.
As we dove deeper into the issue, what we realized was that she felt threatened by the change. She had always been the company expert on bookkeeping issues and since she wasn't comfortable with computers, she would feel out of control if the bookkeeping was computerized. So, to make her feel better and get her onboard with the change, she was the first person trained on the new system. That way, she would continue to be viewed as the company expert, which was important to her, and she would support the change, which was important to the company.
To discuss, contact me at SolidOakConsulting.com or 708-524-0886.
Wednesday, August 24, 2011
Time for a Change?
Change is a constant in business. Whether it's as simple as switching the type of pens your company uses to something as complex as changing your management structure, a change can have a profound effect - and not always a good one - on your business. Therefore, any change you make, whether or big small, should be done with careful thought and strategy.
There are two types of changes you will likely encounter in business: projects and processes. A project is something that has a beginning, middle and end. For instance, your office is getting painted, and the painters will start on Monday and finish on Friday. A process, on the other hand, is something new that will continue on an ongoing basis. For instance, your office is changing to a new software program. The effects of this change will be ongoing and therefore, it is a process.
Many times, though, businesses view their change in process as more of a project. So, using the new software program as an example, they might view the new software as a project that ends when the staff members are trained. But what if there are problems with the software? What if there are upgrades? What if no one is even using the new software? By not treating the implementation as a process, the company may just go back to the system it was using before. What a waste of time and money!
Here are a few pointers to keep in mind when you are about to implement any type of change in your organization.
Include the change in your budget. This shows a commitment to the change and helps you plan for the costs associated with it.
Assign resources. Consider, upfront, everything that will be needed to implement your change. Will your staff have to work overtime? Will you need any new equipment?
Designate a sponsor. Every change should have a sponsor, or a person who is able and willing to be responsible and accountable for the change.
Designate a change agent. A change agent oversees the work of the sponsor. He or she is not given responsibility, but the authority to hold the sponsor accountable.
Remember your stakeholders. Analyze who will be affected by the change. Is it a change that will only affect your staff or will it affect your clients too? Or will the change extend even further and affect the community?
Cater to the influencer. What person or people won't like the change you are about to implement? Try to win them over first before they sabotage your efforts.
Sometimes an outside perspective can help make the whole process of change go smoother. If I can be of assistance to you as you consider whether to implement a change, please feel free to Contact Me, Tom Long at SolidOakConsulting.com or 708-524-0886.
Change is a constant in business. Whether it's as simple as switching the type of pens your company uses to something as complex as changing your management structure, a change can have a profound effect - and not always a good one - on your business. Therefore, any change you make, whether or big small, should be done with careful thought and strategy.
There are two types of changes you will likely encounter in business: projects and processes. A project is something that has a beginning, middle and end. For instance, your office is getting painted, and the painters will start on Monday and finish on Friday. A process, on the other hand, is something new that will continue on an ongoing basis. For instance, your office is changing to a new software program. The effects of this change will be ongoing and therefore, it is a process.
Many times, though, businesses view their change in process as more of a project. So, using the new software program as an example, they might view the new software as a project that ends when the staff members are trained. But what if there are problems with the software? What if there are upgrades? What if no one is even using the new software? By not treating the implementation as a process, the company may just go back to the system it was using before. What a waste of time and money!
Here are a few pointers to keep in mind when you are about to implement any type of change in your organization.
Include the change in your budget. This shows a commitment to the change and helps you plan for the costs associated with it.
Assign resources. Consider, upfront, everything that will be needed to implement your change. Will your staff have to work overtime? Will you need any new equipment?
Designate a sponsor. Every change should have a sponsor, or a person who is able and willing to be responsible and accountable for the change.
Designate a change agent. A change agent oversees the work of the sponsor. He or she is not given responsibility, but the authority to hold the sponsor accountable.
Remember your stakeholders. Analyze who will be affected by the change. Is it a change that will only affect your staff or will it affect your clients too? Or will the change extend even further and affect the community?
Cater to the influencer. What person or people won't like the change you are about to implement? Try to win them over first before they sabotage your efforts.
Sometimes an outside perspective can help make the whole process of change go smoother. If I can be of assistance to you as you consider whether to implement a change, please feel free to Contact Me, Tom Long at SolidOakConsulting.com or 708-524-0886.
Wednesday, August 17, 2011
Classifying Change
Classifying Change
Previously I wrote about the basics of change. This time, I'd like to go a little deeper and introduce you to the types of changes that your organization may encounter. There are three types of change:
A developmental change is one that improves a company's processes, methods or standards. A developmental change causes little stress to employees when compared to the other changes, as long as the reason for the change is clearly conveyed to them first.
A transitional change is more intrusive than developmental change and usually involves introducing something that is completely new. A corporate reorganization, merger or acquisition, creation of new products or services, and implementation of new technology are examples of transitional change.
A transformational change is when a company drastically has to transform itself. A company that is forced to embrace new technology, has unexpected competition or experienced a drop in revenue often has to make a transformational change.
It's important to classify what type of change you are undergoing because it will help you determine how to deal with that change. A trusted business advisor who is experienced at managing organizational change can be critical to your success. For more information about change management, contact Tom Long at SolidOakConsulting.com or 708-524-0886.
Previously I wrote about the basics of change. This time, I'd like to go a little deeper and introduce you to the types of changes that your organization may encounter. There are three types of change:
A developmental change is one that improves a company's processes, methods or standards. A developmental change causes little stress to employees when compared to the other changes, as long as the reason for the change is clearly conveyed to them first.
A transitional change is more intrusive than developmental change and usually involves introducing something that is completely new. A corporate reorganization, merger or acquisition, creation of new products or services, and implementation of new technology are examples of transitional change.
A transformational change is when a company drastically has to transform itself. A company that is forced to embrace new technology, has unexpected competition or experienced a drop in revenue often has to make a transformational change.
It's important to classify what type of change you are undergoing because it will help you determine how to deal with that change. A trusted business advisor who is experienced at managing organizational change can be critical to your success. For more information about change management, contact Tom Long at SolidOakConsulting.com or 708-524-0886.
Wednesday, August 10, 2011
Web Design: Keep it Simple, Easy on the Eyes and Fresh
Web Design: Keep it Simple, Easy on the Eyes and Fresh
In order to compete in business these days, you need to keep a web presence. Is yours more appealing than your competition's? Does it sell you and your message? Here are three simple ways to increase your web appeal.
Keep it Simple.
Put yourself in your customers' shoes. When they reach your website, you want them to be able to purchase a product or find the information they need - quickly. They don't want to sift through irrelevant information to find what they need. Customers in a hurry won't waste time clicking from page to page to navigate your site. Make their visit pleasurable, and give them a reason to come back again and again.
Keep it Easy on the Eyes.
Most businesses should avoid dark and busy backgrounds that distract from content and make the text difficult to read. A dark or black background for a photography site makes for a dramatic effect - but it is easier to view and read dark text against a lighter background. Font choice has been fairly limited for website design, and that may not necessarily be a bad thing. Arial and Verdana fonts are two of the most popular and easy to read.
Keep it Fresh.
If you have a website and rarely update it or look at it, you might as well have no website at all. Many small businesses may be able to get away with updating on a quarterly or monthly basis. But if you are trying to make your site a "must visit," or your company provides weekly or daily communications, you must make updates a priority. To keep your customers coming back, you can post promotions on line, create a carefully worded professional blog, or feature an accessible, downloadable quarterly or monthly newsletter in PDF format.
The bottom line is, always put yourself in your customers' shoes. Once you've got a clean, effective site, keep it updated by adding new content or updates and moving - or removing - older material. To drive customers to your site, promote your website in every piece of printed material you hand out!
To discuss, contact me at SolidOakConsulting.com or 708-524-0886.
In order to compete in business these days, you need to keep a web presence. Is yours more appealing than your competition's? Does it sell you and your message? Here are three simple ways to increase your web appeal.
Keep it Simple.
Put yourself in your customers' shoes. When they reach your website, you want them to be able to purchase a product or find the information they need - quickly. They don't want to sift through irrelevant information to find what they need. Customers in a hurry won't waste time clicking from page to page to navigate your site. Make their visit pleasurable, and give them a reason to come back again and again.
Keep it Easy on the Eyes.
Most businesses should avoid dark and busy backgrounds that distract from content and make the text difficult to read. A dark or black background for a photography site makes for a dramatic effect - but it is easier to view and read dark text against a lighter background. Font choice has been fairly limited for website design, and that may not necessarily be a bad thing. Arial and Verdana fonts are two of the most popular and easy to read.
Keep it Fresh.
If you have a website and rarely update it or look at it, you might as well have no website at all. Many small businesses may be able to get away with updating on a quarterly or monthly basis. But if you are trying to make your site a "must visit," or your company provides weekly or daily communications, you must make updates a priority. To keep your customers coming back, you can post promotions on line, create a carefully worded professional blog, or feature an accessible, downloadable quarterly or monthly newsletter in PDF format.
The bottom line is, always put yourself in your customers' shoes. Once you've got a clean, effective site, keep it updated by adding new content or updates and moving - or removing - older material. To drive customers to your site, promote your website in every piece of printed material you hand out!
To discuss, contact me at SolidOakConsulting.com or 708-524-0886.
Wednesday, August 03, 2011
Is Your Marketing Profitable?
Is Your Marketing Profitable?
The primary measuring stick for success in Guerrilla Marketing is profit. Is this the way you view your marketing efforts?
When Guerrilla Marketing was first published in 1983, Jay Conrad Levinson was considered a pioneer with his innovative, take-no-prisoners approach to marketing for the small- and medium-size business owner. Nearly 25 years and half a million copies later, Guerrilla Marketing is now considered the bible of marketing and entrepreneurial advice.
For one-on-one help in applying Guerrilla Marketing to your business, please Contact me, Tom Long at SolidOakConsulting.com or 708-524-0886.
The primary measuring stick for success in Guerrilla Marketing is profit. Is this the way you view your marketing efforts?
When Guerrilla Marketing was first published in 1983, Jay Conrad Levinson was considered a pioneer with his innovative, take-no-prisoners approach to marketing for the small- and medium-size business owner. Nearly 25 years and half a million copies later, Guerrilla Marketing is now considered the bible of marketing and entrepreneurial advice.
For one-on-one help in applying Guerrilla Marketing to your business, please Contact me, Tom Long at SolidOakConsulting.com or 708-524-0886.
Wednesday, July 27, 2011
Carving Out Your Niche
Carving Out Your Niche
Who is your buyer? When I ask business people that question, I often get the response, "Everyone!" But once they start to think about it a little more, they realize their business does in fact cater to a specific audience, or a niche market. Niche markets often serve one or more of the following categories:
Age
Gender
Income level
Life stages (brides, parents, senior citizens)
Professions
Knowing your niche market is important from a business standpoint because it can help you distinguish your business from your competitors and allow you to focus on how to best serve your particular niche. When it comes to your marketing plan, knowing your niche will help you choose the best weapons for reaching your niche market. For instance, if you are selling yachts, you will likely advertise in an upscale magazine. If you are selling wedding invitations, you might try to advertise on a website for brides or have a booth at a bridal expo.
Just as it is important for you to finding your niche market, your niche market must be able to find you. There are many ways you can position your business so it can be found. Make sure your business is properly categorized in your local telephone book and you are listed in pertinent trade directories. And in this day and age, make sure your niche market can find you through a search engine, which can be accomplished through Search Engine Optimization and keywords. For example, if you own a plumbing service specializing in new construction, make sure your site can be pulled up with the words "new construction plumbing in [your city]."
I have merely touched the surface on the subject of niche marketing but I would be happy to discuss this issue with you at greater length. Please Contact Me, Tom Long, for more information at SolidOakConsulting.com or 708-524-0886.
Who is your buyer? When I ask business people that question, I often get the response, "Everyone!" But once they start to think about it a little more, they realize their business does in fact cater to a specific audience, or a niche market. Niche markets often serve one or more of the following categories:
Age
Gender
Income level
Life stages (brides, parents, senior citizens)
Professions
Knowing your niche market is important from a business standpoint because it can help you distinguish your business from your competitors and allow you to focus on how to best serve your particular niche. When it comes to your marketing plan, knowing your niche will help you choose the best weapons for reaching your niche market. For instance, if you are selling yachts, you will likely advertise in an upscale magazine. If you are selling wedding invitations, you might try to advertise on a website for brides or have a booth at a bridal expo.
Just as it is important for you to finding your niche market, your niche market must be able to find you. There are many ways you can position your business so it can be found. Make sure your business is properly categorized in your local telephone book and you are listed in pertinent trade directories. And in this day and age, make sure your niche market can find you through a search engine, which can be accomplished through Search Engine Optimization and keywords. For example, if you own a plumbing service specializing in new construction, make sure your site can be pulled up with the words "new construction plumbing in [your city]."
I have merely touched the surface on the subject of niche marketing but I would be happy to discuss this issue with you at greater length. Please Contact Me, Tom Long, for more information at SolidOakConsulting.com or 708-524-0886.
Wednesday, June 29, 2011
Consider Your Exit Strategy
You’ve had to consider and evaluate your product or service mix, location, competition, customer base, marketing, business growth, organization and more. So much of your focus has been on beginning, sustaining and growing your business, but if you haven’t done so already, you owe it to yourself to develop an exit strategy.
Having an exit for tomorrow can be a blueprint for today. One of the benefits of an exit strategy is that having an idea of how you would like to end your involvement in your business may make it easier for you to run the business today. You may plan to pass the business along to a family member or take the company public. Or perhaps you plan to sell to an investor or employee. Maybe you want to stay involved part-time but cede responsibility to someone else. You may also consider selling it on the open market or simply terminate the business. If you have an idea of how you plan to exit, you can begin to conduct your business with that objective in mind and change tactics if your desired exit should change over the course of time. There are practical and emotional pros and cons to any exit. Each should be carefully considered and weighed.
Please Contact Me to discuss how we can draft your exit strategy.
Tom Long 708-524-0886, telong@solidoakconsulting.com, www.solidoakconsulting.com.
You’ve had to consider and evaluate your product or service mix, location, competition, customer base, marketing, business growth, organization and more. So much of your focus has been on beginning, sustaining and growing your business, but if you haven’t done so already, you owe it to yourself to develop an exit strategy.
Having an exit for tomorrow can be a blueprint for today. One of the benefits of an exit strategy is that having an idea of how you would like to end your involvement in your business may make it easier for you to run the business today. You may plan to pass the business along to a family member or take the company public. Or perhaps you plan to sell to an investor or employee. Maybe you want to stay involved part-time but cede responsibility to someone else. You may also consider selling it on the open market or simply terminate the business. If you have an idea of how you plan to exit, you can begin to conduct your business with that objective in mind and change tactics if your desired exit should change over the course of time. There are practical and emotional pros and cons to any exit. Each should be carefully considered and weighed.
Please Contact Me to discuss how we can draft your exit strategy.
Tom Long 708-524-0886, telong@solidoakconsulting.com, www.solidoakconsulting.com.
Wednesday, June 22, 2011
Go for Customer Loyalty
Go for Customer Loyalty
A customer loyalty program is a great way to market your product or service to your existing customers. A classic example of a customer loyalty program is the frequent flyer program, which encourages travelers to use a specific airline as a way to earn free airline tickets. This has been a very popular program for many years. I've seen firsthand how hard people would try to use a specific airline so that they earned frequent flyer miles, even if it meant an extra layover here or there.
The frequent flyer program worked well for airlines for many years; unfortunately, now that many of them are in financial turmoil, it may not be the best time for them to redeem the frequent flyer miles. If you come up with a customer loyalty program, you may want to consider whether you could continue the program if the economy does not hold up.
Another example of the customer loyalty concept is the punchcard. Some stores give their customers punchcards that are punched every time they shop at the store. Once the shopper spends a certain amount of money or shops at the store a certain amount of time, they receive a discount or reward.
To discuss what customer loyalty programs might work best for your business, please Contact Me, Tom Long 708-524-0886, telong@solidoakconsulting.com, www.solidoakconsulting.com.
A customer loyalty program is a great way to market your product or service to your existing customers. A classic example of a customer loyalty program is the frequent flyer program, which encourages travelers to use a specific airline as a way to earn free airline tickets. This has been a very popular program for many years. I've seen firsthand how hard people would try to use a specific airline so that they earned frequent flyer miles, even if it meant an extra layover here or there.
The frequent flyer program worked well for airlines for many years; unfortunately, now that many of them are in financial turmoil, it may not be the best time for them to redeem the frequent flyer miles. If you come up with a customer loyalty program, you may want to consider whether you could continue the program if the economy does not hold up.
Another example of the customer loyalty concept is the punchcard. Some stores give their customers punchcards that are punched every time they shop at the store. Once the shopper spends a certain amount of money or shops at the store a certain amount of time, they receive a discount or reward.
To discuss what customer loyalty programs might work best for your business, please Contact Me, Tom Long 708-524-0886, telong@solidoakconsulting.com, www.solidoakconsulting.com.
Wednesday, June 15, 2011
Marketing to Your Existing Clients
Marketing to Your Existing Clients
In business, there is a common term called the Pareto Principle, also known as the 80-20 Rule, which asserts that 80 percent of your results likely come from 20 percent of your input. This principle can be applied to almost anything, from the science of management to the physical world and, of course, to marketing.
Using the Pareto Principle, you can estimate that approximately 80 percent of your business comes from 20 percent of your existing clients. How does this apply to marketing? Well, quite simply, don’t forget about your existing clients when developing your marketing calendar. Too often, businesses focus on adding new clients and lose sight of retaining their existing client base, and using that base to build new client relationships. Now, I am not suggesting you only market to your existing clients or spend the majority of your marketing budget doing so. After all, you do want your business to grow and adding customers is a crucial part. But remember how crucial your existing clients are to your business. When developing your marketing calendar, include ways to market to your existing clients, whether it’s a customer loyalty program (see below) or a referral rewards program. Just because they are your clients now, that doesn’t mean your work is done.
To discuss the Pareto Principle further and how it can be applied to your business, please Contact Me, Tom Long 708-524-0886, telong@solidoakconsulting.com, www.solidoakconsulting.com.
In business, there is a common term called the Pareto Principle, also known as the 80-20 Rule, which asserts that 80 percent of your results likely come from 20 percent of your input. This principle can be applied to almost anything, from the science of management to the physical world and, of course, to marketing.
Using the Pareto Principle, you can estimate that approximately 80 percent of your business comes from 20 percent of your existing clients. How does this apply to marketing? Well, quite simply, don’t forget about your existing clients when developing your marketing calendar. Too often, businesses focus on adding new clients and lose sight of retaining their existing client base, and using that base to build new client relationships. Now, I am not suggesting you only market to your existing clients or spend the majority of your marketing budget doing so. After all, you do want your business to grow and adding customers is a crucial part. But remember how crucial your existing clients are to your business. When developing your marketing calendar, include ways to market to your existing clients, whether it’s a customer loyalty program (see below) or a referral rewards program. Just because they are your clients now, that doesn’t mean your work is done.
To discuss the Pareto Principle further and how it can be applied to your business, please Contact Me, Tom Long 708-524-0886, telong@solidoakconsulting.com, www.solidoakconsulting.com.
Wednesday, June 08, 2011
Discounting as a Marketing Strategy
Discounting as a Marketing Strategy
Dear Tom: I have a new photography business. My framed portraits typically go for $800, but to bring in new customers I would like to offer a special promotional price of $300. Do you think I will get new customers from this?image
Dear Reader: I am going to answer your question with a few questions. Who is your target market? What is their income level? Are discounts important to your target market? Will this promotion attract your target market or just one-time customers who want to take advantage of your deal? Answering these questions yourself will help you answer your own question.
If you have any marketing questions, please send them to me. In each issue of Under the Oak Tree, I will respond to reader questions.
Dear Tom: I have a new photography business. My framed portraits typically go for $800, but to bring in new customers I would like to offer a special promotional price of $300. Do you think I will get new customers from this?image
Dear Reader: I am going to answer your question with a few questions. Who is your target market? What is their income level? Are discounts important to your target market? Will this promotion attract your target market or just one-time customers who want to take advantage of your deal? Answering these questions yourself will help you answer your own question.
If you have any marketing questions, please send them to me. In each issue of Under the Oak Tree, I will respond to reader questions.
Wednesday, June 01, 2011
There's No Time To Procrastinate
There's No Time To Procrastinate
There are very few people in this world who don’t procrastinate. They procrastinate about different things and for different reasons. Now, I know what you’re saying, “Can’t we cover this next month?” My point exactly! When it comes to business, it is my experience that the one area many businesses procrastinate in is marketing, and this is one area where waiting until next month could mean the end of your business. There are a number of reasons why businesses delay their marketing efforts:
They spend so much time and energy planning what they are going to do that they forget to figure out how they are going to do it.
Marketing is a task they don’t know much about, so they are intimidated by it and avoid it altogether.
They are afraid to fail . What if they spend money and they don’t see an immediate return? What if …what if…what if…?
They are afraid to succeed. What if their marketing weapons work and bring in more business than they can handle? Are they prepared for that?
They are perfectionists. They won’t do something unless they know it’s perfect; therefore, most projects take a long time or are not even started.
Whatever the reason for procrastinating marketing efforts, I have a few ways to help motivate you and get you on the right track.
Set realistic expectations. First and foremost, determine whether you can afford what you are planning and whether you can realistically find the time or resources to “fire” your weapons.
Set priorities. Your marketing plan may include several marketing weapons. Establish a timeline for launching each weapon and manage their use efficiently and effectively.
Have external accountability. Once you set your priorities, ask someone, whether it is a coach or a friend, to hold you accountable for completing your tasks. Get feedback from them too on the quality and effectiveness of your marketing efforts.
Distinguish between what’s urgent and what’s important. Implementing your marketing plan is important and urgent. Therefore, it deserves your undivided attention and even warrants turning off your email and letting your calls go to voicemail while you work on it.
Reward yourself. Each time you complete a task in your marketing plan, reward yourself with something you like or like to do.
I would be happy to speak with you about implementing your marketing weapons and developing a marketing campaign. Please contact me if you would like to discuss your marketing efforts. Tom Long 708-524-0886, telong@solidoakconsulting.com, www.solidoakconsulting.com.
There are very few people in this world who don’t procrastinate. They procrastinate about different things and for different reasons. Now, I know what you’re saying, “Can’t we cover this next month?” My point exactly! When it comes to business, it is my experience that the one area many businesses procrastinate in is marketing, and this is one area where waiting until next month could mean the end of your business. There are a number of reasons why businesses delay their marketing efforts:
They spend so much time and energy planning what they are going to do that they forget to figure out how they are going to do it.
Marketing is a task they don’t know much about, so they are intimidated by it and avoid it altogether.
They are afraid to fail . What if they spend money and they don’t see an immediate return? What if …what if…what if…?
They are afraid to succeed. What if their marketing weapons work and bring in more business than they can handle? Are they prepared for that?
They are perfectionists. They won’t do something unless they know it’s perfect; therefore, most projects take a long time or are not even started.
Whatever the reason for procrastinating marketing efforts, I have a few ways to help motivate you and get you on the right track.
Set realistic expectations. First and foremost, determine whether you can afford what you are planning and whether you can realistically find the time or resources to “fire” your weapons.
Set priorities. Your marketing plan may include several marketing weapons. Establish a timeline for launching each weapon and manage their use efficiently and effectively.
Have external accountability. Once you set your priorities, ask someone, whether it is a coach or a friend, to hold you accountable for completing your tasks. Get feedback from them too on the quality and effectiveness of your marketing efforts.
Distinguish between what’s urgent and what’s important. Implementing your marketing plan is important and urgent. Therefore, it deserves your undivided attention and even warrants turning off your email and letting your calls go to voicemail while you work on it.
Reward yourself. Each time you complete a task in your marketing plan, reward yourself with something you like or like to do.
I would be happy to speak with you about implementing your marketing weapons and developing a marketing campaign. Please contact me if you would like to discuss your marketing efforts. Tom Long 708-524-0886, telong@solidoakconsulting.com, www.solidoakconsulting.com.
Wednesday, May 25, 2011
Going Up? Make Sure Your Elevator Pitch Isn't Going Down
Going Up? Make Sure Your Elevator Pitch Isn't Going Down
If you met your dream client on an elevator, would you be able to provide a 30-second business pitch that would leave him wanting to know more? Here are some tips to help you make a memorable and lasting first impression.
Make an impression in 30 seconds. An "elevator pitch" is a concise, concrete, exciting snapshot of your business that leaves a potential client with a good understanding of the services or product you provide and a desire to learn more.
Define your product or service in a unique way. In one or two sentences, describe what you sell or provide. Convey one to three aspects or specialties of your business that you are passionate about; point out how you rise above you competitors; and define how you add value to your customers' businesses.
Define your customer. Is your typical client in the finance industry? Does your product help senior citizens? Do you provide accounting services to mid-size businesses? In one sentence, summarize your typical customer, or the type of customer you hope to serve.
Write it until you get it right. Write your "elevator pitch" down. Work on it until it feels right and gets your point across quickly. If your business occupies more than one niche, try to combine them or craft a few pitches that you can use with different prospects. If you are having trouble, ask your current associates and clients what they value most about your services – chances are, someone else will, too!
Practice, practice, practice. Practice it out loud – in front of a mirror. The more you practice your pitch, the easier it will be to deliver, whether you're talking to a friend at a party, a prospect on an elevator or potential clients at a networking group.
Keep it fresh. Although you want your delivery to roll off your tongue, remember that over time you will need to adjust your pitch as your business goals and services change. If you are trying to attract a different type of clientele, you need to be able to tell them how your services or product can add value to their business.
Tom Long 708-524-0886, telong@solidoakconsulting.com.
If you met your dream client on an elevator, would you be able to provide a 30-second business pitch that would leave him wanting to know more? Here are some tips to help you make a memorable and lasting first impression.
Make an impression in 30 seconds. An "elevator pitch" is a concise, concrete, exciting snapshot of your business that leaves a potential client with a good understanding of the services or product you provide and a desire to learn more.
Define your product or service in a unique way. In one or two sentences, describe what you sell or provide. Convey one to three aspects or specialties of your business that you are passionate about; point out how you rise above you competitors; and define how you add value to your customers' businesses.
Define your customer. Is your typical client in the finance industry? Does your product help senior citizens? Do you provide accounting services to mid-size businesses? In one sentence, summarize your typical customer, or the type of customer you hope to serve.
Write it until you get it right. Write your "elevator pitch" down. Work on it until it feels right and gets your point across quickly. If your business occupies more than one niche, try to combine them or craft a few pitches that you can use with different prospects. If you are having trouble, ask your current associates and clients what they value most about your services – chances are, someone else will, too!
Practice, practice, practice. Practice it out loud – in front of a mirror. The more you practice your pitch, the easier it will be to deliver, whether you're talking to a friend at a party, a prospect on an elevator or potential clients at a networking group.
Keep it fresh. Although you want your delivery to roll off your tongue, remember that over time you will need to adjust your pitch as your business goals and services change. If you are trying to attract a different type of clientele, you need to be able to tell them how your services or product can add value to their business.
Tom Long 708-524-0886, telong@solidoakconsulting.com.
Wednesday, May 18, 2011
Fusion Marketing: Two Businesses Are Better Than One
Fusion Marketing: Two Businesses Are Better Than One
Fusion Marketing is an interesting and low-cost guerrilla marketing concept that I am seeing used more often. This approach involves forming marketing partnerships with other non-competing companies. For instance, if you are a children's photographer, you may want to form partnerships with other children-oriented businesses, such as a clothing store or toy store, so you can market your businesses together. By doing so, you not only share your marketing costs, but you reach more potential customers in the process.
The Happy Meal at McDonald's is an example of Fusion Marketing at its finest. In each kids' meal is an advertisement of either an upcoming movie or new line of toys. McDonald's has formed partnerships with other companies to combine their marketing efforts. McDonald's wins because it gives children one more reason to want their Happy Meals, and the marketing partner wins because they have increased the interest in their product with very little effort.
Take a look at your target customers and think of businesses you could partner with for an effective, low-cost marketing campaign.
Tom Long 708-524-0886, telong@solidoakconsulting.com.
Fusion Marketing is an interesting and low-cost guerrilla marketing concept that I am seeing used more often. This approach involves forming marketing partnerships with other non-competing companies. For instance, if you are a children's photographer, you may want to form partnerships with other children-oriented businesses, such as a clothing store or toy store, so you can market your businesses together. By doing so, you not only share your marketing costs, but you reach more potential customers in the process.
The Happy Meal at McDonald's is an example of Fusion Marketing at its finest. In each kids' meal is an advertisement of either an upcoming movie or new line of toys. McDonald's has formed partnerships with other companies to combine their marketing efforts. McDonald's wins because it gives children one more reason to want their Happy Meals, and the marketing partner wins because they have increased the interest in their product with very little effort.
Take a look at your target customers and think of businesses you could partner with for an effective, low-cost marketing campaign.
Tom Long 708-524-0886, telong@solidoakconsulting.com.
Wednesday, May 11, 2011
Market All Your Weapons
Market All Your Weapons
As I've mentioned before, one of the significant principles of Guerrilla Marketing involves combining marketing weapons. In other words, don't just use direct mail or only advertise in a newspaper. As your marketing budget allows, use as many marketing weapons as you can and see where you get the best results.
What makes this approach particularly interesting, and effective, is that once you start using a variety of marketing weapons, you often see an increase in your results across the board. This isn't necessarily a scientific fact, but I've seen it firsthand in the marketing projects I have been involved with over the years. For instance, a billboard may drive a potential client to your Web site. Or, a potential client may see your advertisement in a newspaper, but they don't feel compelled to contact you until they recognize your name in a radio spot.
For more information on increasing the use and efficiency of your marketing arsenal, please feel free to Contact Me to discuss this important, and necessary, part of your business.
Tom Long 708-524-0886; telong@solidoakconsulting.com.
As I've mentioned before, one of the significant principles of Guerrilla Marketing involves combining marketing weapons. In other words, don't just use direct mail or only advertise in a newspaper. As your marketing budget allows, use as many marketing weapons as you can and see where you get the best results.
What makes this approach particularly interesting, and effective, is that once you start using a variety of marketing weapons, you often see an increase in your results across the board. This isn't necessarily a scientific fact, but I've seen it firsthand in the marketing projects I have been involved with over the years. For instance, a billboard may drive a potential client to your Web site. Or, a potential client may see your advertisement in a newspaper, but they don't feel compelled to contact you until they recognize your name in a radio spot.
For more information on increasing the use and efficiency of your marketing arsenal, please feel free to Contact Me to discuss this important, and necessary, part of your business.
Tom Long 708-524-0886; telong@solidoakconsulting.com.
Saturday, May 07, 2011
Solid Oak's Action Plan
Solid Oak’s Action Plan
Over 30 years of business experience has shown me there are business basics which, when mastered, result in success – even for the small business just starting.
Solid Oak Consulting’s Action Plan Program for business success is based on experience and research from many organizations, including the Institute for Independent Business, Small Business Administration, Harvard Business School, Stanford University Graduate School of Business, Inc. Magazine, The Economist, Dun and Bradstreet and Coleman Entrepreneurial Center of De Paul University.
The Action Plan Program begins with a comprehensive, but rapid assessment, of the key functions and issues of your business. This assessment forms the basis for a set of action plans designed to focus your business’ efforts and investments on the most critical areas necessary for success.
One particular focus of the Action Plan Program is on repeatable processes. Developing a set of repeatable processes from the beginning ensures a company can, and will, continue to be successful into the future. And, most importantly, it will generate sustainable success.
The technician worries about today. The manager worries about tomorrow. But the owner worries about his legacy – “What will happen when I’m gone?”
The Solid Oak Action Plan considers 13 key areas of business:
Planning
Management
Marketing
Financials
Sales
Customers
Products/Services
Employees
Change Management
Alliances
Advisors
Perseverance
Exit Strategy
To learn more about Solid Oak’s Action Plan Program and schedule a free initial meeting, contact Tom Long at telong@SolidOakConsulting.com or call 708-524-0886.
Over 30 years of business experience has shown me there are business basics which, when mastered, result in success – even for the small business just starting.
Solid Oak Consulting’s Action Plan Program for business success is based on experience and research from many organizations, including the Institute for Independent Business, Small Business Administration, Harvard Business School, Stanford University Graduate School of Business, Inc. Magazine, The Economist, Dun and Bradstreet and Coleman Entrepreneurial Center of De Paul University.
The Action Plan Program begins with a comprehensive, but rapid assessment, of the key functions and issues of your business. This assessment forms the basis for a set of action plans designed to focus your business’ efforts and investments on the most critical areas necessary for success.
One particular focus of the Action Plan Program is on repeatable processes. Developing a set of repeatable processes from the beginning ensures a company can, and will, continue to be successful into the future. And, most importantly, it will generate sustainable success.
The technician worries about today. The manager worries about tomorrow. But the owner worries about his legacy – “What will happen when I’m gone?”
The Solid Oak Action Plan considers 13 key areas of business:
Planning
Management
Marketing
Financials
Sales
Customers
Products/Services
Employees
Change Management
Alliances
Advisors
Perseverance
Exit Strategy
To learn more about Solid Oak’s Action Plan Program and schedule a free initial meeting, contact Tom Long at telong@SolidOakConsulting.com or call 708-524-0886.
Wednesday, April 27, 2011
Show Some Generosity
Show Some Generosity
Along the lines of building relationships, let’s touch on the importance of generosity. Sometimes, we get so caught up in our day-to-day business operations that we forget about this important business – and personal – practice.
By generosity, I mean being generous with:
Your time and talent. Be generous with your time and talent, whether it’s helping one of your clients or volunteering in the community. Business is not always about the bottom line.
Your resources and materials. When you find a great resource, tell your business clients. You can put useful links you find on your Web site or forward an interesting article.
Your terms. LL Bean is a good example of a company that is very generous with its return policy. If a customer is dissatisfied with LL Bean merchandise at any time, the store will take the merchandise back – no questions asked. You also might alter the payment terms for a business you know is just starting. We’ve all been there before, and a little flexibility can go a long way with clients.
Besides the obvious goodwill of generosity, it also can be viewed as a subtle marketing tool. While this shouldn’t be your sole reason for being generous, people appreciate a business that is willing to step from behind the profit margin and help others.
Tom Long 708-524-0886; SolidOakConsulting.com.
Along the lines of building relationships, let’s touch on the importance of generosity. Sometimes, we get so caught up in our day-to-day business operations that we forget about this important business – and personal – practice.
By generosity, I mean being generous with:
Your time and talent. Be generous with your time and talent, whether it’s helping one of your clients or volunteering in the community. Business is not always about the bottom line.
Your resources and materials. When you find a great resource, tell your business clients. You can put useful links you find on your Web site or forward an interesting article.
Your terms. LL Bean is a good example of a company that is very generous with its return policy. If a customer is dissatisfied with LL Bean merchandise at any time, the store will take the merchandise back – no questions asked. You also might alter the payment terms for a business you know is just starting. We’ve all been there before, and a little flexibility can go a long way with clients.
Besides the obvious goodwill of generosity, it also can be viewed as a subtle marketing tool. While this shouldn’t be your sole reason for being generous, people appreciate a business that is willing to step from behind the profit margin and help others.
Tom Long 708-524-0886; SolidOakConsulting.com.
Wednesday, April 20, 2011
Building Your Client Relationships
Building Your Client Relationships
Earlier, we touched on the importance of relationships in business. After all, when you have strong client relationships, they will tend to stay with your business for the long haul. As such, building relationships is an important part of marketing because it entails how you promote and sustain your business.
You can build client relationships in two ways: on a personal level or a professional level. A personal relationship with your clients means going beyond the boundaries of their business and getting to know them as people, not just clients. You learn about their family, their hobbies and their dreams. You can connect with them on a personal level by sending them birthday greetings or asking about their family and hobbies. When you have tickets to a sporting event you know they enjoy, ask them to go with you or simply give them your tickets to enjoy with their family or friends. By connecting with your clients in this way, you are reinforcing your business relationship and building a rapport and trust that go beyond the client relationship.
Building a professional relationship often means exceeding your client’s expectations of you and your business. For example:
Share your contacts. If your client needs assistance in a particular area, whether it is your field or not, share your contacts who might be able to help your client become more successful. Let them know you care about their success and not just your own.
Make face-to-face contact. Many business relationships these days are conducted over the Internet or by phone. But, whenever possible, it’s nice to see your clients face-to-face. This strengthens your relationships and adds a personal touch to the professional level. Plus, people like the reassurance that comes from personal contact.
Avoid nickel-and-dimeing. I’ve heard lawyers say to their clients, “Why didn’t you come and see me sooner?” Well, they probably were afraid of getting charged, so they waited until it was too late. But, if the client knew that the lawyer wouldn’t charge for every minute of the consultation, the client may be more likely to see him. This puts your clients at ease and keeps communication open and fluid.
Generally speaking, you want to retain your clients. (And trust me, I know there are ones on occasion that you want to get rid of.) Next to offering a great product or service, relationship building is the best way to keep your clients and establish long-term relationships.
Tom Long 708-524-0886; SolidOakConsulting.com.
Earlier, we touched on the importance of relationships in business. After all, when you have strong client relationships, they will tend to stay with your business for the long haul. As such, building relationships is an important part of marketing because it entails how you promote and sustain your business.
You can build client relationships in two ways: on a personal level or a professional level. A personal relationship with your clients means going beyond the boundaries of their business and getting to know them as people, not just clients. You learn about their family, their hobbies and their dreams. You can connect with them on a personal level by sending them birthday greetings or asking about their family and hobbies. When you have tickets to a sporting event you know they enjoy, ask them to go with you or simply give them your tickets to enjoy with their family or friends. By connecting with your clients in this way, you are reinforcing your business relationship and building a rapport and trust that go beyond the client relationship.
Building a professional relationship often means exceeding your client’s expectations of you and your business. For example:
Share your contacts. If your client needs assistance in a particular area, whether it is your field or not, share your contacts who might be able to help your client become more successful. Let them know you care about their success and not just your own.
Make face-to-face contact. Many business relationships these days are conducted over the Internet or by phone. But, whenever possible, it’s nice to see your clients face-to-face. This strengthens your relationships and adds a personal touch to the professional level. Plus, people like the reassurance that comes from personal contact.
Avoid nickel-and-dimeing. I’ve heard lawyers say to their clients, “Why didn’t you come and see me sooner?” Well, they probably were afraid of getting charged, so they waited until it was too late. But, if the client knew that the lawyer wouldn’t charge for every minute of the consultation, the client may be more likely to see him. This puts your clients at ease and keeps communication open and fluid.
Generally speaking, you want to retain your clients. (And trust me, I know there are ones on occasion that you want to get rid of.) Next to offering a great product or service, relationship building is the best way to keep your clients and establish long-term relationships.
Tom Long 708-524-0886; SolidOakConsulting.com.
Wednesday, April 13, 2011
Are You Keeping a Marketing Calendar?
some time back, we touched on the importance of keeping a marketing calendar. A marketing calendar, as you may remember, keeps track of your marketing weapons and shows the interaction and synergy between them.
Since it is still early in the year, take a look at your marketing calendar again and evaluate what is working and what is not, especially those weapons that have measurable results. If your weapons are not firing as effectively as you hoped, it may be time to shake things up a bit and try some new ammunition.
If you need assistance in evaluating your marketing calendar, please Contact Tom Long at 708-524-0886; SolidOakConsulting.com.
Since it is still early in the year, take a look at your marketing calendar again and evaluate what is working and what is not, especially those weapons that have measurable results. If your weapons are not firing as effectively as you hoped, it may be time to shake things up a bit and try some new ammunition.
If you need assistance in evaluating your marketing calendar, please Contact Tom Long at 708-524-0886; SolidOakConsulting.com.
Wednesday, April 06, 2011
Holding up Your End of the Relationship
Holding up Your End of the Relationship
When your clients come back to your business again and again, it's because you have developed a relationship with them. Just like the personal relationships you have in life, your business relationships are built on characteristics like trust and rapport. Your clients know they can trust you and your company to deliver whatever it is they need, when they need it and how they need it – whether it's consistency, low prices or high quality. And, because of the trust they have in you, they know they can call you anytime they need something.
These relationships are a two-way street. You need and appreciate their business as well, so your relationships are mutually beneficial. Just as they enjoy the benefits of your product and/or service, you enjoy the benefit of their consistent and dependable business. Image and, loyal clients equal free and effective marketing. Some businesses exclusively thrive on word-of-mouth and referral business.
Many times, businesses build relationships without even realizing it. They just do what they do best – and the business comes in. But, as your business grows, it's important to examine your relationships with existing clients so you can 1) retain your existing clients, and 2) target new clients.
To start this exercise, visit your existing clients and simply ask them, "What is most important to you about the product or service we provide?" and "Why do you come back to us?" You already may know the answers to these questions – or you just may be surprised. Either way, it's important to know the reasons behind the relationships because they will provide you with insight you may not have otherwise. This knowledge not only will help improve your existing and future relationships, but your product and/or service will benefit, and you can more easily craft a clear marketing message.
For tips on building successful business relationships, please feel free to Contact Tom Long at 708-524-0886; SolidOakConsulting.com
When your clients come back to your business again and again, it's because you have developed a relationship with them. Just like the personal relationships you have in life, your business relationships are built on characteristics like trust and rapport. Your clients know they can trust you and your company to deliver whatever it is they need, when they need it and how they need it – whether it's consistency, low prices or high quality. And, because of the trust they have in you, they know they can call you anytime they need something.
These relationships are a two-way street. You need and appreciate their business as well, so your relationships are mutually beneficial. Just as they enjoy the benefits of your product and/or service, you enjoy the benefit of their consistent and dependable business. Image and, loyal clients equal free and effective marketing. Some businesses exclusively thrive on word-of-mouth and referral business.
Many times, businesses build relationships without even realizing it. They just do what they do best – and the business comes in. But, as your business grows, it's important to examine your relationships with existing clients so you can 1) retain your existing clients, and 2) target new clients.
To start this exercise, visit your existing clients and simply ask them, "What is most important to you about the product or service we provide?" and "Why do you come back to us?" You already may know the answers to these questions – or you just may be surprised. Either way, it's important to know the reasons behind the relationships because they will provide you with insight you may not have otherwise. This knowledge not only will help improve your existing and future relationships, but your product and/or service will benefit, and you can more easily craft a clear marketing message.
For tips on building successful business relationships, please feel free to Contact Tom Long at 708-524-0886; SolidOakConsulting.com
Wednesday, March 30, 2011
It's Time to Network
It's Time to Network
Speaking of communication, don’t allow yourself to be trapped in your office. Get out from behind your desk! Talk to your managers, employees, fellow professionals, existing clients and new clients. Resolve to expand your business and social circles in the upcoming year by including regular networking time in your schedule.
* Join a networking group or two.
* Attend a training conference.
* Network in social settings.
* Set aside a few minutes each day to strengthen and expand your network.
For more information on networking, contact me, Tom Long at 708-524-0886. www.solidoakconsulting.com.
Speaking of communication, don’t allow yourself to be trapped in your office. Get out from behind your desk! Talk to your managers, employees, fellow professionals, existing clients and new clients. Resolve to expand your business and social circles in the upcoming year by including regular networking time in your schedule.
* Join a networking group or two.
* Attend a training conference.
* Network in social settings.
* Set aside a few minutes each day to strengthen and expand your network.
For more information on networking, contact me, Tom Long at 708-524-0886. www.solidoakconsulting.com.
Wednesday, March 23, 2011
Follow-Up on Your Follow-Ups
Follow-Up on Your Follow-Ups
Many people resolve to improve their "follow-up" as part of their New Year's resolutions. They vow to communicate more with those people who express interest in their product or service, or to touch base more with their current clients.
Unfortunately, a task like following-up requires a commitment and definite effort from people. Successful and effective follow-up is just not that easy to do. There is always the possibility of failure or hearing an undesirable response from a client or prospect, so it's one of those tasks that tends to get put off.
But, this is one area where persistence pays off. Follow-up is crucial to the growth of every business - not only for bringing in new clients but for keeping your existing clients. Guerrilla marketing preaches the importance of customer and prospect follow-up as being one of the basics of successful business.
Even though it's tough to do, I hope you make a commitment to follow-up with your prospects and existing clients.
Try to develop a standardized process to ensure you will follow-up with people on a consistent and timely basis. This is one resolution you will be happy you kept.
Call Tom Long, 708-524-0886, telong@solidoakconsulting.com.
Many people resolve to improve their "follow-up" as part of their New Year's resolutions. They vow to communicate more with those people who express interest in their product or service, or to touch base more with their current clients.
Unfortunately, a task like following-up requires a commitment and definite effort from people. Successful and effective follow-up is just not that easy to do. There is always the possibility of failure or hearing an undesirable response from a client or prospect, so it's one of those tasks that tends to get put off.
But, this is one area where persistence pays off. Follow-up is crucial to the growth of every business - not only for bringing in new clients but for keeping your existing clients. Guerrilla marketing preaches the importance of customer and prospect follow-up as being one of the basics of successful business.
Even though it's tough to do, I hope you make a commitment to follow-up with your prospects and existing clients.
Try to develop a standardized process to ensure you will follow-up with people on a consistent and timely basis. This is one resolution you will be happy you kept.
Call Tom Long, 708-524-0886, telong@solidoakconsulting.com.
Wednesday, March 16, 2011
Marketing: Get Back to Basics
Marketing: Get Back to Basics
The beginning of each year holds so much promise and potential. So, while you are still feeling that rekindled energy and optimism, I want you to carefully consider how you market your business.
Earlier, we reviewed a few marketing principles such as reaching the decision-maker, marketing benefits and target markets. This time, I'd like to get back to basics. Let's start with what marketing is in the first place.
Marketing is everything you do to promote your product or service. Many people think of marketing as being synonymous with advertising – newspaper ads or mass mailings. But, there are other ways that you can promote, and thus market, your business.
Ask yourself: How do the day-to-day operations of my business promote my business? For example, how does the receptionist answer the phone? What do my invoices look like? How does the staff dress? Is our office clean? These are all ways that you can promote – or if ignored, hurt – your business. A great marketing campaign may attract new customers, but once they encounter a rude receptionist or a dirty office, you are deflating all of your marketing efforts from the beginning.
Now, make sure you look at your marketing in a more comprehensive way – not only what you do to bring in new business but also what you do to keep your clients.
To discuss further call Tom Long, 708-524-0886 or write:
telong@solidoakconsulting.com.
The beginning of each year holds so much promise and potential. So, while you are still feeling that rekindled energy and optimism, I want you to carefully consider how you market your business.
Earlier, we reviewed a few marketing principles such as reaching the decision-maker, marketing benefits and target markets. This time, I'd like to get back to basics. Let's start with what marketing is in the first place.
Marketing is everything you do to promote your product or service. Many people think of marketing as being synonymous with advertising – newspaper ads or mass mailings. But, there are other ways that you can promote, and thus market, your business.
Ask yourself: How do the day-to-day operations of my business promote my business? For example, how does the receptionist answer the phone? What do my invoices look like? How does the staff dress? Is our office clean? These are all ways that you can promote – or if ignored, hurt – your business. A great marketing campaign may attract new customers, but once they encounter a rude receptionist or a dirty office, you are deflating all of your marketing efforts from the beginning.
Now, make sure you look at your marketing in a more comprehensive way – not only what you do to bring in new business but also what you do to keep your clients.
To discuss further call Tom Long, 708-524-0886 or write:
telong@solidoakconsulting.com.
Wednesday, March 09, 2011
Is It Time for a Coach?
Is It Time for a Coach?
As you all know, business has peaks and valleys. While we all enjoy the peaks, you must quickly identify when you or your business falls into a valley. You are in the proverbial valley if:
* Your business is not performing as well as you want.
* You feel you're working harder but are less satisfied.
* Your business is doing well, but you're getting tired of working so hard.
* A large downsizing in your company is causing great change in the work environment.
* You feel your career is nearing a plateau.
* You received a sub-par performance review.
* You're unable to mold and lead your staff.
* You're not comfortable making strategic decisions.
This is where a coach can help. A coach is someone who isn't engrossed in the day-to-day operations, but someone who can see the big picture and help you address your challenges.
This is where we can help. To learn more about Solid Oak Consulting's personalized coaching services and how they can benefit you and your business, please contact me, Tom Long telongsolidoakconsulting.com, 708-524-0886.
As you all know, business has peaks and valleys. While we all enjoy the peaks, you must quickly identify when you or your business falls into a valley. You are in the proverbial valley if:
* Your business is not performing as well as you want.
* You feel you're working harder but are less satisfied.
* Your business is doing well, but you're getting tired of working so hard.
* A large downsizing in your company is causing great change in the work environment.
* You feel your career is nearing a plateau.
* You received a sub-par performance review.
* You're unable to mold and lead your staff.
* You're not comfortable making strategic decisions.
This is where a coach can help. A coach is someone who isn't engrossed in the day-to-day operations, but someone who can see the big picture and help you address your challenges.
This is where we can help. To learn more about Solid Oak Consulting's personalized coaching services and how they can benefit you and your business, please contact me, Tom Long telongsolidoakconsulting.com, 708-524-0886.
Wednesday, March 02, 2011
Marketing - It's All About Them, Not You
Marketing - It's All About Them, Not You
What would your target audience value about your product or service that is unique – a quality that cannot be easily reproduced? Source: Death of a Small Business: Five Threats to the Growth and Success of American Small Business
Earlier, I touched on the importance of target marketing. This time, I'd like to go one step further by addressing benefits and features and how they relate to your target marketing efforts.
Do you know why your clients come to you rather than one of your competitors? They come to you because they realize some sort of benefit from doing business with you. A benefit could be the quality of your service or product, but it also could be your pricing, customer service or office hours. It's important to identify what your existing clients view as the benefit(s) of doing business with you because it can help you in marketing your services or products to new clients.
Many times, I see businesses marketing their features instead of their benefits. A feature is something that's important, but it's more important to the business than it is to the consumer. For instance, a business may promote the fact that it has state-of-the-art machinery, but the real benefit that customers gain from using that business is fast service. So, the marketing message should focus on fast service, not state-of-the-art machinery. Most consumers don't care how they get the fast service, they just care that they get it!
If you don't know what benefits you offer your clients, it's time to find out. Knowing this important information will not only help your marketing strategy, but it also will help strengthen your relationship with existing clients.
Please contact me to have Solid Oak Consulting help you identify your benefits and improve your marketing strategies.
Tom Long telong@solidoakconsulting.com, 708-524-0886.
What would your target audience value about your product or service that is unique – a quality that cannot be easily reproduced? Source: Death of a Small Business: Five Threats to the Growth and Success of American Small Business
Earlier, I touched on the importance of target marketing. This time, I'd like to go one step further by addressing benefits and features and how they relate to your target marketing efforts.
Do you know why your clients come to you rather than one of your competitors? They come to you because they realize some sort of benefit from doing business with you. A benefit could be the quality of your service or product, but it also could be your pricing, customer service or office hours. It's important to identify what your existing clients view as the benefit(s) of doing business with you because it can help you in marketing your services or products to new clients.
Many times, I see businesses marketing their features instead of their benefits. A feature is something that's important, but it's more important to the business than it is to the consumer. For instance, a business may promote the fact that it has state-of-the-art machinery, but the real benefit that customers gain from using that business is fast service. So, the marketing message should focus on fast service, not state-of-the-art machinery. Most consumers don't care how they get the fast service, they just care that they get it!
If you don't know what benefits you offer your clients, it's time to find out. Knowing this important information will not only help your marketing strategy, but it also will help strengthen your relationship with existing clients.
Please contact me to have Solid Oak Consulting help you identify your benefits and improve your marketing strategies.
Tom Long telong@solidoakconsulting.com, 708-524-0886.
Wednesday, February 23, 2011
Do You Have Customers or Clients?
Do You Have Customers or Clients?
Yes, there is a difference. A "client" is someone who expects you to "take care" of him or her over an extended period of time. Someone who offers professional services typically has clients rather than customers. On the other hand, a person who uses your products or services on a limited basis is considered a "customer." A store typically has customers as opposed to clients.
Knowing whether you serve customers or clients is crucial to determining not only your marketing efforts, but how you operate your business. After all, although your goal always is to provide the best products or services to all people – whether client or customer – your approach to handling the two types of people should be different. Well-known business coach Jay Abraham, does a great job of addressing this issue in his book, "Getting Everything You Can Out Of All You’ve Got."
To discuss, contact me, Tom Long, 708-524-0886, SolidOakConsulting.com.
Yes, there is a difference. A "client" is someone who expects you to "take care" of him or her over an extended period of time. Someone who offers professional services typically has clients rather than customers. On the other hand, a person who uses your products or services on a limited basis is considered a "customer." A store typically has customers as opposed to clients.
Knowing whether you serve customers or clients is crucial to determining not only your marketing efforts, but how you operate your business. After all, although your goal always is to provide the best products or services to all people – whether client or customer – your approach to handling the two types of people should be different. Well-known business coach Jay Abraham, does a great job of addressing this issue in his book, "Getting Everything You Can Out Of All You’ve Got."
To discuss, contact me, Tom Long, 708-524-0886, SolidOakConsulting.com.
Wednesday, February 16, 2011
Small-Business Numbers Aren't So Small...
Small-Business Numbers Aren't So Small...
The Small Business Administration recently reported some interesting statistics. Did you know that small firms:
* Represent 99.7 percent of all employer firms
* Employ half of all private sector employees
* Pay more than 45 percent of the total U.S. private payroll
* Have generated 60 to 80 percent of net new jobs annually over the last decade
* Are 53 percent home-based and 3 percent franchises
To discuss, contact me, Tom Long, 708-524-0886, SolidOakConsulting.com.
The Small Business Administration recently reported some interesting statistics. Did you know that small firms:
* Represent 99.7 percent of all employer firms
* Employ half of all private sector employees
* Pay more than 45 percent of the total U.S. private payroll
* Have generated 60 to 80 percent of net new jobs annually over the last decade
* Are 53 percent home-based and 3 percent franchises
To discuss, contact me, Tom Long, 708-524-0886, SolidOakConsulting.com.
Wednesday, February 09, 2011
Image Versus Identity
Image vs. Identity
Some people use the terms image and identity interchangeably, but they are two distinct concepts. Your company's identity represents the core values of your company while your image reinforces, or should reinforce, your identity.
First, it's important to know your company's identity. Let me use a car dealership as an example. I once knew of a successful car dealership that was the epitome of luxury in all respects. When you would bring your car in for service, there was low lighting, comfortable chairs and plush carpeting. Their image reinforced their identity - luxury. Now, compare that to another luxury car dealership in which the service department has linoleum floors and plastic chairs. What is their image? Does it correspond to the dealership's identity?
Keep in mind that your identity should be reinforced by those "weapons" I referred to in a previous article. For instance, a car dealership that wants to be perceived as a luxury car dealership should promote the business in high-society magazines and not on cable television in the middle of the night.
What is your company's identity? Make sure you know the answer - and make sure your image corresponds to it. To discuss further contact me, tom Long, 708-524-0886, SolidOakConsulting.com.
Some people use the terms image and identity interchangeably, but they are two distinct concepts. Your company's identity represents the core values of your company while your image reinforces, or should reinforce, your identity.
First, it's important to know your company's identity. Let me use a car dealership as an example. I once knew of a successful car dealership that was the epitome of luxury in all respects. When you would bring your car in for service, there was low lighting, comfortable chairs and plush carpeting. Their image reinforced their identity - luxury. Now, compare that to another luxury car dealership in which the service department has linoleum floors and plastic chairs. What is their image? Does it correspond to the dealership's identity?
Keep in mind that your identity should be reinforced by those "weapons" I referred to in a previous article. For instance, a car dealership that wants to be perceived as a luxury car dealership should promote the business in high-society magazines and not on cable television in the middle of the night.
What is your company's identity? Make sure you know the answer - and make sure your image corresponds to it. To discuss further contact me, tom Long, 708-524-0886, SolidOakConsulting.com.
Wednesday, February 02, 2011
Guerilla Marketing: Are You Armed - and Effective?
Guerilla Marketing: Are You Armed - and Effective?
I am a proponent of Guerrilla Marketing, a concept Jay Conrad Levinson introduced to the world in 1984 with his book, Guerrilla Marketing. If you haven't read his book, I highly recommend you do because it contains many time-tested, cost-effective marketing strategies that still apply today, more than 20 years after it was first published.
In this entry, I want to focus on one important Guerrilla Marketing lesson - weapons. A weapon represents each way you promote your business, such as business cards, logos, signs, advertising, etc. I think weapon is an appropriate term because it shows the power of marketing. When used correctly, your company could stand to win big. When not used correctly or not used at all, your company could lose out.
Of course, weapons can't just fire at random.
There has to be strategy and in Guerrilla Marketing, your marketing strategy is outlined in what's called a marketing calendar. A marketing calendar outlines which weapons you use and when. Over time, your marketing calendar will show the interaction and synergy between the weapons. You'll be able to rank them in order of their effectiveness and determine when each one should be used and in what combination.
I've merely scratched the surface on this concept, but I hope I have at least made you think about a few points. Take a moment and think about what weapons your company is using as well as what weapons you are not using.
This is a good time to revisit - or start a marketing calendar for this year. For more information on Guerrilla Marketing, please contact me, Tom Long, 708-524-0886, SolidOakConsulting.com.
I am a proponent of Guerrilla Marketing, a concept Jay Conrad Levinson introduced to the world in 1984 with his book, Guerrilla Marketing. If you haven't read his book, I highly recommend you do because it contains many time-tested, cost-effective marketing strategies that still apply today, more than 20 years after it was first published.
In this entry, I want to focus on one important Guerrilla Marketing lesson - weapons. A weapon represents each way you promote your business, such as business cards, logos, signs, advertising, etc. I think weapon is an appropriate term because it shows the power of marketing. When used correctly, your company could stand to win big. When not used correctly or not used at all, your company could lose out.
Of course, weapons can't just fire at random.
There has to be strategy and in Guerrilla Marketing, your marketing strategy is outlined in what's called a marketing calendar. A marketing calendar outlines which weapons you use and when. Over time, your marketing calendar will show the interaction and synergy between the weapons. You'll be able to rank them in order of their effectiveness and determine when each one should be used and in what combination.
I've merely scratched the surface on this concept, but I hope I have at least made you think about a few points. Take a moment and think about what weapons your company is using as well as what weapons you are not using.
This is a good time to revisit - or start a marketing calendar for this year. For more information on Guerrilla Marketing, please contact me, Tom Long, 708-524-0886, SolidOakConsulting.com.
Wednesday, January 26, 2011
Publicity: Make Sure You're 'Covered'
Publicity: Make Sure You're 'Covered'
No matter what type of business you're in, you need people to know about you. You can gain exposure through a variety of ways, some of which cost money and others that do not. In light of the recent economic conditions, I'd like to focus on one of the "free" options that are available to you.
Public relations, also known as PR, means gaining publicity through topics of public interest or the news, rather than through advertising and other paid promotional efforts. Many business people think PR is something that can only be done with the help of a PR expert. While PR experts do have a specialized knowledge of how they can gain exposure for their clients, it is possible to do your own PR. Here are a few ways:
* Make yourself known in the community. When something happens with your business - an expansion or a new hire - send a press release to the local newspapers to inform them of your news. They may either print the release or follow-up with you to write an article. Also try to take advantage of local sponsorship opportunities as a way to get your name out in the community.
* Be a reliable source. When a member of the media calls you, always take his or her call. Being featured in an article is a great way to get some free PR. Be honest and patient with reporters and try to answer all their questions. Send them additional informational materials if you think it will help them with their article. If you aren't able to help them, try to direct them to someone who can help. By doing so, you will be putting yourself foremost in their minds and they will likely call you back again.
* Establish yourself as an expert in your industry. These days, many reporters do their research online. If you have a strong website that features your published articles and whitepapers, they will call you for your comments on a particular article. Also, try to get published in any trade publications within your industry.
* See if you can write for a publication. If you can offer valuable insight and are a good writer, you might actually get paid for an article you write while gaining some PR in the process.
There are many good online resources regarding public relations, including prweb.com and publicityinsider.com. Solid Oak Consulting can also assist you. For more information, please contact me: Tom Long, SolidOakConsulting.com, 708-524-0886.
No matter what type of business you're in, you need people to know about you. You can gain exposure through a variety of ways, some of which cost money and others that do not. In light of the recent economic conditions, I'd like to focus on one of the "free" options that are available to you.
Public relations, also known as PR, means gaining publicity through topics of public interest or the news, rather than through advertising and other paid promotional efforts. Many business people think PR is something that can only be done with the help of a PR expert. While PR experts do have a specialized knowledge of how they can gain exposure for their clients, it is possible to do your own PR. Here are a few ways:
* Make yourself known in the community. When something happens with your business - an expansion or a new hire - send a press release to the local newspapers to inform them of your news. They may either print the release or follow-up with you to write an article. Also try to take advantage of local sponsorship opportunities as a way to get your name out in the community.
* Be a reliable source. When a member of the media calls you, always take his or her call. Being featured in an article is a great way to get some free PR. Be honest and patient with reporters and try to answer all their questions. Send them additional informational materials if you think it will help them with their article. If you aren't able to help them, try to direct them to someone who can help. By doing so, you will be putting yourself foremost in their minds and they will likely call you back again.
* Establish yourself as an expert in your industry. These days, many reporters do their research online. If you have a strong website that features your published articles and whitepapers, they will call you for your comments on a particular article. Also, try to get published in any trade publications within your industry.
* See if you can write for a publication. If you can offer valuable insight and are a good writer, you might actually get paid for an article you write while gaining some PR in the process.
There are many good online resources regarding public relations, including prweb.com and publicityinsider.com. Solid Oak Consulting can also assist you. For more information, please contact me: Tom Long, SolidOakConsulting.com, 708-524-0886.
Wednesday, January 19, 2011
Guerrilla Marketing Makes Good 'Cents'
Guerilla Marketing Makes Good 'Cents'
In a good or poor economy, Guerrilla Marketing is a great method for businesses to market their goods and services. Guerrilla Marketing is effective for three reasons:
* Because of big business downsizing, decentralization, relaxation of government regulations, affordable technology, and a revolution in consciousness, people around the world are gravitating to small business in record numbers.
* Small business failures are also establishing record numbers and one of the main reasons for the failures is a failure to understand marketing.
* Guerrilla marketing has been proven in action to work for small businesses around the world. It works because it's simple to understand, easy to implement and outrageously inexpensive.
For for more information about Guerrilla Marketing, please contact me: Tom Long, SolidOakconsulting.com, 708-524-0886.
In a good or poor economy, Guerrilla Marketing is a great method for businesses to market their goods and services. Guerrilla Marketing is effective for three reasons:
* Because of big business downsizing, decentralization, relaxation of government regulations, affordable technology, and a revolution in consciousness, people around the world are gravitating to small business in record numbers.
* Small business failures are also establishing record numbers and one of the main reasons for the failures is a failure to understand marketing.
* Guerrilla marketing has been proven in action to work for small businesses around the world. It works because it's simple to understand, easy to implement and outrageously inexpensive.
For for more information about Guerrilla Marketing, please contact me: Tom Long, SolidOakconsulting.com, 708-524-0886.
Wednesday, January 12, 2011
What A Recession Can Cost You
What A Recession Can Cost You
During a recession, many businesses, acting out of fear, start to put up barriers. They make short-sighted decisions that affect the long-term relationships they have built with their customers.
For instance, they decide to cut vital customer-service staff in an effort to save money. But instead of saving money, it ends up costing them because these kinds of decisions affect their ability to serve their customers well. Smart businesses realize this and make an effort to take extra good care of their customers during a recession. Customers will always remember that you took extra care of them during a tough time.
When you make cost-cutting decisions in your business, make sure to look at the long-term effects it may have. You can't afford to lose customers, especially during a recession. For further discussion, contact: Tom Long, SolidOakConsulting.com, 708-524-0886.
During a recession, many businesses, acting out of fear, start to put up barriers. They make short-sighted decisions that affect the long-term relationships they have built with their customers.
For instance, they decide to cut vital customer-service staff in an effort to save money. But instead of saving money, it ends up costing them because these kinds of decisions affect their ability to serve their customers well. Smart businesses realize this and make an effort to take extra good care of their customers during a recession. Customers will always remember that you took extra care of them during a tough time.
When you make cost-cutting decisions in your business, make sure to look at the long-term effects it may have. You can't afford to lose customers, especially during a recession. For further discussion, contact: Tom Long, SolidOakConsulting.com, 708-524-0886.
Wednesday, January 05, 2011
Preparing For The Rebound
Preparing For The Rebound
Officially, the recession is supposed to be over. But it's understandable to feel a little discouraged as you watch what's happening with our economy these days. Some of us are feeling the effects directly, while others are not. Either way, the one thing we know is that the economy will improve. The question is: Will you be ready for it when it does?
There are several areas of your business that you should focus on right now to prepare your business for its economic recovery.
* Sales. Hopefully, you haven't let your good salespeople go. But if you did, devise a plan for hiring new ones, or rehiring past ones, as soon as your finances allow. Your sales department will be crucial to building up your business once the economy recovers.
* Marketing. Many businesses slash their marketing budgets during a recession. But if there was ever a time you need to promote your business, it's now. Nevertheless, sometimes it can't be avoided. If that was the case for your company, try to start investing in your marketing as soon as possible. If money is tight, you may want to try Guerilla Marketing (below) if you don't already.
* Human Resources. Take advantage of this downtime by training your staff so they'll be prepared for an increase in business. Also, there are a lot of great people out on the market right now; see what you can do about getting them on your staff.
Unfortunately, there is no telling exactly when this recovery will occur for your business, but we know from history that it will happen. If Solid Oak Consulting can help you with an economic recovery plan for your business, please contact me: Tom Long, SolidOakConsulting.com, 708-524-0886.
Officially, the recession is supposed to be over. But it's understandable to feel a little discouraged as you watch what's happening with our economy these days. Some of us are feeling the effects directly, while others are not. Either way, the one thing we know is that the economy will improve. The question is: Will you be ready for it when it does?
There are several areas of your business that you should focus on right now to prepare your business for its economic recovery.
* Sales. Hopefully, you haven't let your good salespeople go. But if you did, devise a plan for hiring new ones, or rehiring past ones, as soon as your finances allow. Your sales department will be crucial to building up your business once the economy recovers.
* Marketing. Many businesses slash their marketing budgets during a recession. But if there was ever a time you need to promote your business, it's now. Nevertheless, sometimes it can't be avoided. If that was the case for your company, try to start investing in your marketing as soon as possible. If money is tight, you may want to try Guerilla Marketing (below) if you don't already.
* Human Resources. Take advantage of this downtime by training your staff so they'll be prepared for an increase in business. Also, there are a lot of great people out on the market right now; see what you can do about getting them on your staff.
Unfortunately, there is no telling exactly when this recovery will occur for your business, but we know from history that it will happen. If Solid Oak Consulting can help you with an economic recovery plan for your business, please contact me: Tom Long, SolidOakConsulting.com, 708-524-0886.
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