What are your 3 Critical Business Functions?

It's easy to forget.

Easy to forget what you need to be doing with the majority of your time. Yesterday I got caught up in processing an online order for my city newspaper. Believe it or not it took me an hour to purchase my newspaper subscription online. I could have called the 800 number and have processed the order in far less time. But I wanted to use the online system. I found out at the end of the process that I would be billed for the entire twelve months at one time. So then I really had to call the 800 number to straighten out the mess.

I wasted my time with this task. But when I looked back on my day, I realized that I had spent the majority of my time doing what I needed to do.

• Do you make it a habit to review your day?
• Do you use your time productively?
• Did you spend time on critical business functions?

What are critical business functions? These are the business activities that only you can accomplish with great success.  These are not tasks that can be delegated to your assistant. These are tasks where you shine.  These are tasks that help you grow your business and make your clients happy.  

Here are my three critical business functions.

1. Writing content for one of my four websites. Content positions me as an expert in my field. Creating content for my blog and my websites brings me traffic which also brings me qualified prospects.
2. Consulting with serious prospects. The qualified prospects that end up in my sales funnel go on a journey learning more about me and how I can help them focus on their business and create success. I don't have time to consult with everyone, so I put prospects through a process to determine if I should utilize my time consulting with them.
3. Coaching my clients. Once a prospect becomes a client, I meet with them via phone weekly helping them focus on their goals and strategize various business and marketing tactics. The time I spend working with my clients is the most enjoyable to me.

What are your three critical business functions?  What should you spend your time doing? What are you wasting your time on right now?

Suzanne Muusers

Could coaching be what you need?

Find out here: Are We are a Good Fit for Coaching?

Increase your Income by Rebranding

This month, my focus is on branding as one of my clients is ready to launch a new business concept using a visual marketing campaign that uses branding extensively.  This post is about how you can increase your income by rebranding your business.

Take a long hard look at your brand. What are you communicating to prospects and clients with your brand?  Could it be that an investment in your brand could allow you to take your business to the next level?

Here's a story about how rebranding can lead to new business revenue. I pass a pizza restaurant almost daily not far from my home.  The restaurant has been in the same location for many years and I had never set foot in it. To me the restaurant was nondescript with a rather bland exterior that did not catch my attention hence the reason why I drove past it and never ventured in.

Recently however, the owners have started a new branding campaign. They invested in a vibrant color palette and new logo which they painted around the restaurant windows and duplicated in the overhead signage.  Suddenly they stand out. Suddenly I can't drive past without seeing them a mile away. So I stopped in the other day to buy a pizza. The restaurant was crowded with eat in diners and folks like me looking to take home a pizza. I asked the young kid behind the counter why they were so busy and he said "Gee I don’t know, but lately it seems like more people are coming in saying that they didn't realize we were here."

So, the owners may not be sure that the reason their business revenue has increased because of their brand, but it seems pretty obvious to me that the restaurant was invisible before the rebranding.

Is your business brand too bland? Do you need to consider how to stand out from the crowd? I hope you'll consider rebranding one of your goals in 2012. You might find yourself with lots of new clients and a new look on life.

Suzanne Muusers

Business Coach to Branded Business Owners

You Deserve It When You Earn It

My husband and I just returned from a long weekend in Northern Arizona where we hung out with family, made some delicious meals, drank some good wine, and had a great time. We certainly deserved to take time off as we have been very busy the past few months with new products and new clients and we really needed the rest. 

How hard are you working in your business?

Are you really doing all you can to grow personally and professionally?

Have you ever met people who coast along on others' coattails? They seem to be successful but on closer inspection they have simply hitched a ride on someone else's success. This was the case with my husband's former business partner who announced one summer that he and his non-working spouse were taking a six-week trip up the California coast because they deserved it. They then proceeded to raid the company checking account at every stop they made taking money for assorted non-business expenses. In my book, they would have deserved it if they had saved up the funds in their own account. Thankfully my husband is no longer in business with this lazy crook and accomplice wife and he's much better off.

Have you hitched a ride on someone else's success? Do you feel that you deserve to take time off? If you've been putting real effort into your business growth then you certainly deserve it. Unfortunately many people say they deserve a break or reward when in fact they don't.

A new Florida client recently confided in me that he has been riding an accidental success wave without any real effort by accepting referrals from a powerful CPA. He's grown by mostly luck. Now that the CPA has retired he has realized he's actually going to have to do some real work.  

You deserve success when you EARN it. What are you doing to earn it?

Suzanne Muusers

Kick in the Butt Coach for Advisors

Eliminate Toxic People from Your Life

In my desire to have more serenity in my life I am writing about toxic people who bring us down.  You know the ones – they zap our energy, demand too much, are easily offended, and bother the heck out of us. Sometimes we have no choice about having them in our lives because they may be family members. But if they are clients, acquaintances, or friends, we can decide not to tolerate their bad attitudes and eliminate them from our lives if we want to.

In the alternative we can communicate with toxic people and let them know our boundaries in a non-threatening way.  When we do this we are standing up for ourselves and placing value on our serenity and happiness.

So let me ask you: Who do you have in your life that is a toxic person? Can you communicate your boundaries or decide to eliminate their presence in order to have more peace and serenity in your life?

Part of a successful entrepreneur's education is learning how to maintain a positive attitude in the face of poor economic news, a slowdown in revenue, and a culture of negativity.  But an often overlooked aspect of business success is learning to eliminate toxic people from your life.

As part of my role at Toastmasters, I often mentor new members to help them assimilate into the group and learn beneficial tips about how to speak in public with confidence – I have performed this role with great success in the past.  A new member was assigned to me last year whom I recognized as a toxic person. As such, I was still unprepared for the negative attitude in her vocabulary, emails, and voicemails.

I offered to meet this new member for coffee – please understand - I have the kind of business where I work with clients via phone, in most cases. I rarely have to leave my office. So when I offered to meet at a location halfway between my office and her home I expected her to jump on the offer. However, that wasn't good enough. She wanted me to meet her at a time that was convenient for her at a location that was close to her home. None of this was convenient to me so the meeting was postponed.

When I noticed that she was giving her first speech (icebreaker) I emailed her:

Hi - ,

Looks like you are giving your icebreaker on Thursday.

Please let me know if you’d like to talk by phone!

Warmly, Suzanne

She asked if I could meet her before the meeting on the day that she was giving her speech. Since I had a client meeting scheduled I emailed her that I could not swing it.

Here's her response:

OK, so as a mentor, what could you help me with on the phone in the next day or so? Perhaps I was too quick to ask you to be one for me, since you truly do seem to be too busy. I went to a very grueling seminar this past weekend and realized that my # 1 reason for being there was to overcome the strange awareness that for most practical aspects of external life I am quite invisible. Being overlooked for doing my speech on the day originally scheduled didn't help alter that awareness. And, although you said you thought my speech was good, I really have no idea how to make it better, esp. since actually LOOKING at people when I give it will be an overwhelming challenge. Perhaps you could offer some just general suggestions.

(Notice the victim attitude and blame mentality).

My response:

I don’t think your response is appropriate and I decline to be your mentor.

Suzanne

None of us needs to be associated with pessimistic, demanding people who feel they are victimized and voice their negativity at any given opportunity. If you have family members or clients who are negative you must learn to create boundaries that protect you from their toxicity. 

Don't put up with toxic people!

Suzanne Muusers

Business Coach to Positive, Motivated Entrepreneurs

Did That Hit a Nerve?

Eleanor Roosevelt said "Do one thing every day that scares you."

Taking risks is scary because risk is all about doing what's uncomfortable. I believe that when we play it too safe we are not living up to our potential.  When we are safe we are comfortable. When we are comfortable we are not growing.

Fear has a way of keeping us up at night, turning our palms sweaty, and making our heart beat stronger. But it’s the risks in life that can lead to bigger rewards.  When you don’t frequently take risks, it's pretty uncomfortable to begin taking them. Like the person who doesn’t speak much in public and is terrified to be in front of a room. Or the person who is accustomed to the same routine day in and day out and is just fine with it thank you very much.

 

Think about the last time you took a risk…

• Talking to a stranger in the grocery store checkout line
• Speaking up in a crowded room at a seminar or conference
• Asking a client for a referral
• Asking a client for additional investible assets
• Calling a prospect who hasn't returned your 3^rd phone call
• Deciding to attend your first Toastmasters meeting
• Deciding to use public speaking as a marketing tactic
• Getting off your duff and cold calling to get new clients

Yes, when you take a risk there is the possibility that it won't work out. The client may say no. The prospect may answer the phone and ask you not to call back. But more often than not there will be a reward and a feeling of accomplishment.

The wonderful bonus when taking risks is that you can better handle uncertainty. You build up a thick skin and a motivation to succeed. Taking bigger risks in the stock market can lead to bigger gains; taking risks in your relationship with clients will produce bigger gains as well.

When was the last time you took a risk? If you're too comfortable it could be time for change…

Suzanne Muusers

Motivator and Risk Taker

Target a Niche and Create Information Products to Serve the Masses

How would you like to have your cake and eat it too? That's what targeting a niche for your practice and creating information products for the masses can do for your business.

Advisors are resistant to targeting a niche because they fear turning away clients. Yet taking on too many clients with too many diverse needs and concerns can cause a fractured focus, too many work hours, and personal dissatisfaction.  

Announcing that you specialize in a specific demographic, profession, business industry, or gender doesn't mean that you don’t take as clients Mr. and Mrs. Smith who are none of the above.  It just means that you specialize in this niche and know how to service their unique problems.

Imagine for a moment that you have created information products that you sell on the internet to prospects who don't meet your minimums

Rather than turning away the $4000 Roth IRA rollovers or the less than attractive investible assets showing up on your front door, create a product that could help these folks and sell it on your website.  This strategy can eventually evolve into a wonderful passive revenue stream.

Despite coaching only Financial Planners, I have created, trademarked and now sell many products on the internet. When I created my first information product, a Business Plan for entrepreneurs and independent professionals, it was a standalone e-book. I charged only $24.50 for the 20 page e-book and a word template for the finished business plan. Over time I added many sample business plans for various industries and professions, multiple marketing tools, and an e-course to help purchasers fully develop their custom plan.  I now sell the business plan at a higher price, have multiple additional standalone products, and I sell my products all over the WORLD! That's the power of the internet.

The moral of the story: think about information products you can create that could solve problems for clients who may never work with you. Passive revenue is AWESOME!

Suzanne Muusers

Business Coach and Strategist to Motivated Advisors