What Are The Biggest Mistakes Entrepreneurs Make?

Thanks again to Mike from the Toilet Paper Entrepreneur for including me in the line-up this week. I tackled the question - what are the biggest mistakes entrepreneurs make?

My answer: 

 

"Entrepreneurs Need To Take A Proactive Approach To Marketing

The biggest mistake entrepreneurs make is taking a reactive approach to their marketing. Entrepreneurs need to be constantly marketing and networking. They wait until they are in the red to make drastic changes to their marketing strategies. Entrepreneurs need to revise and update their marketing goals and objectives on a regular basis. Whether it's online or offline, proactive marketing is a must for entrepreneurs' success."

 

Mike featurs fantastic entrepeneurs on his blog. For more helpful entrepreneurial tips and hints, check out this week's blog post at the TP Entrepreneur. 

Smartest Small Budget Marketing Tips

Aloha! I am back on the grid after spending an amazing week in Paradise (aka Maui). My vacation was much-needed, and am feeling refreshed and relaxed.

While I was away, I was included again on The Toilet Paper Entrepreneur (Tip #105).  Mike features smart marketing tips for businesses on a limited budget. I share why it's important to invest in a professional copywriter. I have seen first-hand what happens when people try to wing it with their web copy, and it is NOT a pretty sight.

Great marketing tips on Mike's blog! Hope you'll check it out, and I welcome you to add your personal marketing tips and feedback.

 

Your Personal Brand - What's Your Story?

We all have a story to share. We check off credentials on our resumes, social media bios and give our elevator speeches at meetings. As a business owner, what's your personal brand and even more importantly, what's your story? Personal branding is basically the way you (the person) market yourself to the world. It's also been called "self-packaging." 

Look at the personal brand of Tiger Woods. He's one of the best examples of how a personal brand can go down the tubes quickly (especially when that personal brand is tainted in the public eye). I can't think of one person on this planet who doesn't know the name Tiger Woods. Tiger equals pro billion dollar successful golfer which then turned into Tiger Woods, cheating husband and target of all celebrity gossip columnists. Wheras the tabloid gossip around Tiger's infidelities has simmered down, his brand definitely took a hit (especially on his wallet).

Your personal brand is what and how other people perceive you - and it's unavoidable! The labels and perceptions (whether true or false) people associate with you become tied to your personal brand. That's why it's important to tell your story before someone else tells their "version" of your story.

What Does Your External Brand Look Like to the World?

Your external brand is the "image" you project to the world - whether online or offline. 

Let's say Mrs. Mary Jones is a stay-at-home mom who raised kids for 20 years and created her company and products/services to help other busy moms make their lives easier. This "image" is portrayed on her website via her bio, website copy/design, etc.

Then we have another website - Ms. Jane Smith Off the Street who also sells similar products. What's Jane Smith's story? What makes HER an expert when it comes to child-related products? Jane Smith doesn't have a bio on her website and I don't know anything about her. Given that information, I'm buying my products from Mrs. Mary Jones based on the story I read and based on her experiences and expertise as a mom. 

So...do you have a story? Are you sharing it with your customers and clients? How does everyone else "see" you and your company? What are their perceptions? Good? Bad? Indifferent?

 

 

 

 

 

 

Word of Mouth Marketing Pays Big For Small Businesses

Word of mouth marketing...what would we do without it? Especially in these tough times as small businesses close their doors, word of mouth marketing pays big for business owners who compete daily for new customers just to stay ahead.

I live in a small town in the foothills of northern California. We have a few "box" stores here, but I try to support my local businesses as much as I can. Word of mouth marketing goes a long way in a small town and it pays (especially if I am your customer!)

My laptop took a nose dive last weekend, and I ended up buying a new laptop with upgraded 2011 technology. I could have easily bought the laptop online or at a box store, but based on 'word of mouth' from my mom (she bought the same laptop from a local computer store) I took my laptop into their store for a repair. First, they didn't charge me an arm and a leg just to look at my computer, and they figured out it was a failing hard drive. There was no hard pressure sales to upgrade my laptop (another plus in their favor), but they were running a sale this month on the exact laptop I wanted to purchase - great timing!

This local store gets an A plus - they understand the importance of word of mouth marketing and they practice what they preach. And my mom's "word" goes a long way since she used to teach college computer classes and has been around computers for a long time. As a result of my mom telling me about her great customer experience with this local computer store, I turned into a new customer who bought a laptop from them. That sale was based strictly on word of mouth marketing. Sure, I know about the store since I've had other family members take their computers there, but my purchasing decision was based on the positive experience my mom had with the store.

I'm not putting down box stores, but I've had less than favorable experiences with the larger corporate chains. If anything, these bigger chains could take a page or two from smaller businesses who know how to effectively market via word of mouth.

As a business owner myself, I am really busy so It's nice to know I can go to a local store if I run into any problems with my laptop. Not to mention, they threw in a discount card for their store.

As a result of my positive experience, I plan to write favorable online reviews about this local computer store to help spread the word. As important as social media marketing is for your small business, don't forget about your customers and word of mouth marketing. Look at your reviews online and remember to thank your customers for favorable reviews (and thank them in person too!) Word of mouth marketing could pay big for you in the near future.

I've been fortunate to receive referrals from past clients and landed new clients in the process. 

What has been your experiences with word of mouth marketing? Did word of mouth help land you new customers? Sales?

Why Reactive Marketing Could Shut Down Your Business

I chatted this morning with a colleague who works with local small businesses. We compared "marketing" notes and discussed how small business owners are missing the boat with their marketing strategies. They don't worry about their marketing until AFTER they are forced to reduce store hours or cancel promotional events. Reactive marketing is not the way to go - especially in this economy. When I hear businesses, especially small Mom and Pop stores, complain that they don't have time to market it makes me shake my head. With the powerful and easy social media marketing tools right at their fingertips, small business owners don't have any excuses NOT to be proactive marketers.

I'm a huge fan of a local pizza parlor in my small town (a shout out to Old Town Pizza in Auburn, Calif.) They are on the ball with their email marketing. I received their St. Patrick's Day email last night that listed their specials which included discounted prices on pizza with pesto sauce - now that is clever (not to mention green beer). The email was simple with a festive St. Patrick's Day theme and caught my eye right away. They are a great example of how small businesses are staying on top of proactive marketing.

There are times when reactive marketing is beneficial and necessary. When you spot negative comments from disgruntled customers on your Facebook, then you definitely need to react and take care of the problem immediately.

How can you take the bull by the horns and be a proactive marketer?

Understand Your Markets


Conduct market research and customer surveys. What do your customers and clients want and need? Don't wait until they have blasted your company social media accounts with nasty-grams to figure out they are unhappy campers. Be aware of what's going on in your industry - what and who influences key decision makers and leaders? What does the projected forecast and trends look like this year? In five or ten years? Stay on your toes.

Be Open to Networking Opportunities

When you meet someone online or offline, think about the potential marketing opportunity with the person you just met. I don't recommend spamming them or hitting them up to buy your product, but take the time to get to know them - do you share common interests? Maybe the woman standing next to you in line is the CEO of ABC Company and her daughter attends your son's school. You never know who will cross your path, so don't shut out networking opportunities when you're outside the office.

Don't Use Lack of Time & Money As Excuses NOT To Market

I understand how difficult it is to schedule time to market your business, but it's crucial. Create a solid online marketing plan and stick to it. Schedule time for your social media or hire someone to do it for you. Don't use the excuse that you don't have enough time or money to put into your marketing. You don't have to break the bank with your marketing either. There are many cost-effective, free tools available to help save time with your social media marketing. Here are a few time-saving automation tools to get you started:

www.hootsuite.com

www.socialmention.com

www.postling.com

www.twitterfeed.com 

www.ping.fm

www.tweetdeck.com 

Don't wait until you have to hang a "Going Out of Business" sign on your door. Schedule the time today to be a proactive and NOT a reactive marketer.