Monday Morning Sales Advice
Business Advice for Women Entrepreneurs and Small Business Owners
It’s Monday morning and the first call of the day is from a woman entrepreneur I met at an event a month ago who said to me, “I have 50 people interested in what my company offers. I need a plan to start calling and converting them to paying clients. Do you have tips to get started?” Besides telling her its great news to have so many potential clients to call, I gave her some pointers on how I conduct follow-up sales calls hoping it inspired her.
Since my company Women TIES has to renew 400 members on an annual basis and answer membership inquires from another 200 more interested in joining our organization, the way I’ve managed making calls is by creating a structured sales schedule. I am not an expert in sales but this is what’s works for me.
First, figure out what results the potential customer wants to receive from your company before calling them. Most consumers have a “need” they want filled. Try to discover the need and then sell to the result they receive by hiring your company.
Second, don’t give up reaching someone after one or two attempts. In fact a sales expert just told me 80% of sales are made between the 5th and 12th phone call. Keeping making calls until you get a solid “no.” On average, it takes me 4 attempts to reach someone before they respond or the sale is made. Don’t stop after the first call.
Third, make sales calls an important part of your weekly routine. Find a specific day of the week or time each day to make calls and schedule it in your calendar. Make sure you don’t plan anything else in its place.
Bottom line, by making sales calls a typical part of your weekly routine, you’ll easily call the 50 people on your list and more.
Advice for Solo Entrepreneur, Start-up Companies or Women Entrepreneurs
A friend of mine who has been an entrepreneur for 7 years called and said, “Tracy, I’m ready to explode I’m so darn busy. I must add staff to start taking over the hundreds of duties I perform in my growing business.” She continued, “The major problem is all the procedures I have ever performed for my company as a solo entrepreneur are in my head and not on paper. What can I do to document them so others can handle the duties and do it right? ”
This dilemma is typical of successful solo entrepreneurs who are bursting at the seams with duties and procedures they never documented. Their mind has been overflowing with operational processes for far too long. The solution to this problem is to create an Operations Manual. Every company, no matter how small it is, needs this vital business workbook to run the company effectively. It is even more important to have when an entrepreneur starts adding and training new staff.
Here is some basic information about Operations Manuals to get any entrepreneur started:
• First of all, by definition an Operations Manual is compiled of policies and procedures the owner has created over time.
• Operations Manuals are as diverse as the businesses they are created in. Fundamentally a manual will articulate how duties are performed in their company. It is created to be a resource so others can duplicate what the owner has done on a regular basis.
• Begin making one by listing the company’s mission statement, outlining products and services, and any other values staff need to understand. Write down instructions on major procedures that occur in the business. For example include: how to open and close the operation on a daily basis, policies on recording customer payments and guidelines on opening new accounts.
• Create the manual and place it in a binder to share with all employees. Update the binder as procedures change or are added. An Operations Manual will help the owner and their employees standardize processes and run the company more efficiently.
There is no reason to fill up your head with corporate procedures and processes. It’s much easier to take the time on a regular basis to write down detailed tasks and keep them in a binder for yourself and everyone who works in the operation to use. All of a sudden you’ll be watching your efficiency explode not your mind!
A Panoramic Business Perspective
Business advice for women entrepreneurs
In order to start the certification process to become a woman owned enterprise with New York State, I had to pull out annual board reports for the last 7 years. As I read each report in order, I received an unexpected gift – a panoramic view of my company starting from the moment of its inception to the beginning of its 8th year. Twists and turns of fate, strategic planning, input from customers and guidance from trusted advisors helped pave the winding road of success. What the analysis really presented me with was a sense that I’m on the right path.
So often we become obsessed with seeing what is wrong with our business. Not just seeing it, but constantly looking for what’s not going right. Always asking ourselves, “What am I doing wrong?” can drive us to the brink at times. But examining past annual reports and business plans teach us is to take stock of our growth and achievements. We have to stop looking for errors, casting doubts and focusing on wrong decisions that sabotage our positive feelings about where we have been and how far we have traveled in our entrepreneurial life.
The lessons we need to learn are taught to us every day, every year and especially in a panoramic view if you step back in time to trace your tracks. What I do know is we need to give ourselves a break from the negative conversations in our head and ask ourselves every day, what is going right, what is true, and what makes perfect sense.
Today’s blog post is meant to inspire you to start today by listing five things that are going right for your business this moment. Then list five things that went right for you in 2012 that need to continue in 2013. Pay attention to the good feelings they produce. I also suggest you find time this month to reach back and trace your steps in your business to see how far you have come. Make sure you concentrate on the successes and milestones. Too often we give more power to the negative decisions, not the positive ones.
The future is always a blank canvas but with insight on the path we’ve traveled so far, analysis on where we should be going and concentrating on what feels right will help us feel good and give us the energy we need to keep making bountiful strides along this exciting business journey
Pricing Fairly
In preparation for an upcoming event, I headed to Tops Market to purchase pink roses for my centerpieces. Knowing Wegmans offered less expensive roses, I decided to go to Tops Market to save time since it was 5 minutes away. As I approached the floral department, I was stunned to see the roses priced at $29.99 per dozen. I had been purchasing roses for six years and knew prices ranged between $7.99 – $12.99 per dozen.
Shocked by the pricing, I asked the employee, who knows I purchase roses once a week for my events, why the substantial price increase. She said, “Valentine’s Day is approaching and we want to get customers prepared to pay higher prices for the holiday.” In response I said, “But it’s only February 4th any roses people buy today or even this week won’t last until February 14th. Are you sure they should be priced so high so early? Isn’t there anything you can do for me today?” Without thinking about the thousands of dollars I’ve spent on roses there she simply said, “That’s our pricing.”
As I turned from the counter I said, “You are sending me to Wegmans.” She shrugged and I left annoyed with the lack of sensitivity. 20 minutes later when I arrived at Wegmans, I took a few minutes to share my story with the head of their floral department. She explained to me, “A few days before Valentine’s Day, we charge higher prices for roses too but it’s because our supplier charges us more for the holiday. But we don’t do that until we have to because we don’t believe in price gauging.”
What I learned from this experience, which might help your business today:
*If you are going to substantially increase your prices, notify your repeat customers to make them aware of the pricing increases. Explain why the change is occurring and when so they aren’t surprised.
* Don’t forget 80% of an entrepreneur’s income comes from 20% of their clients. Pay careful attention to complaints from your most important customers. Address concerns to keep their business.
* Don’t ever let a customer walk out the door or get off the phone knowing they are going to your competition. If they are right about the situation and they take the time to speak to you about it, make a onetime exception to keep their business.
“Super Bowl” Marketing Advice
Advice for women entrepreneurs
Whether you are a football fan or not, the incredible extensive marketing of the Superbowl is enough to get most people to turn on their TVs. Whether it’s watching the actual game, witnessing the clever advertisements or being entertained by the half-time show, it’s an “event” most of the country participates in.
The Super Bowl has always taught me lessons in marketing and sales and seems to rev up my sales spirit the week following the big game. Today’s post is not only to encourage you to think about your own marketing outreach and sales tactics this week, but to ask yourself if some education in both areas could “kick-off” the best business year yet for your company.
I have planned events this month to inspire and educate you through Women TIES. Consider coming to:
* This week’s Utica event on Sales Strategies
* Next week’s Albany event on Social Media Marketing
* The February 20th Rochester event on Sales and Prospecting
* The February 28th Syracuse program on Public Relations & Traditional Marketing
Every single company that was involved in yesterday’s Super Bowl implemented sales, social media marketing, prospecting, public relations and traditional marketing to make a big splash and get noticed.
You don’t have to be a big time advertiser at the Super Bowl to make your own splash but you do need continuing education and inspiration to keep going; so please join us and pass the word onto other women you know who could benefit from our valuable networking, promotional and educational luncheons. You can find us at http://www.womenties.com.
Go super women entrepreneurs Go!
Warming Up to Sales
Business wisdom for women entrepreneurs
A gusty warm wind greeted us Wednesday, a welcomed break to the bitter cold temperatures of last week. The warm weather coincided perfectly with a morning passage in a favorite book. The passage said, “Soak up the love and warmth from the world around you. Open your heart more to the people you see, the people you meet, the people you greet and the people you love.” Although the reading can relate to our personal lives, I believe it relates to our business lives as well.
The idea of making sales calls, sales appointments and following up new networking connections can send a chill down our spines. Most women don’t get a warm, bubbly, content feeling when a mandatory sales day approaches. We anticipate the voice at the end of the call to be cold or the person we meet at a networking event to be uninterested. The fear of the reaction can stop us from ever picking up the phone, going to an event or scheduling an appointment.
Most sales experts will tell you making a warm sales call with someone you have met before is more productive than making a cold sales call to someone you’ve never met. It’s not surprising to know that having a warm demeanor during a call instead of a cold one works too. It also makes sense that going to networking events or business affairs to meet potential customers are the perfect place to start creating warmer relations with new people or developing stronger ties with people you met recently.
Today’s blog post is to encourage you to take the warmth of Wednesday’s temperatures and integrate it into your sales soul. Remember how good the warmth feels, how happy it makes us and others around us and the positive impact it has on the day’s mood. When the weather changes back to February cold, experience that feeling too and realize cold can freeze us in our tracks, tighten up our responses and stop the flow. Take both feelings into your sales approach and use more warm connections, feelings and relationships to grow your business.
Simple Financial Advice for Women Enterpreneurs
Business Advice for Small Business
This time of year, business owners do what individuals do when we prepare our taxes — we meet with our accountants and take a hard look at the bottom line. Sometimes, these meetings lead to the shock of learning that our optimistic financial outlook has little basis in reality.
The best way for an entrepreneur to fix the problem is to be more cognizant of financial figures on a monthly basis and make periodic adjustments if monetary goals aren’t being met. Here is simple financial advice to help businesswomen become more diligent about financial business decisions in 2013.
* Remember a business plan is the best tool to establish an entrepreneur’s monetary goals. It is essential once a plan is established to review, analyze and update the plan regularly. The plan is the detailed map to guide any entrepreneur through the year.
* Understanding the profitability of every service or product that is sold is valuable in decision making for a business owner. If a product is 75% expense and 25% profit, and a service is 25% expense and 75% profit, it makes sense to market services before products. Understanding the profitability ratio can also help an entrepreneur cut product expenses to earn more profit. Understanding your numbers can increase your bottom line.
* Analyzing current and past customer data can aid in establishing new financial projections. The statistics might reveal 20% of one’s clients produce 80% of one’s revenue. If that’s the case, the business owner needs to determine whether they should be selling more often to the 20% or 80% of their customer base? Understanding who to sell to and how often can help increase sales numbers.
If you don’t want to leave your accountant’s office disappointed in your financial figures, make sure you are consistently producing positive financial rewards and seeking business advice to create a stronger business plan to achieve your highest financial goals.
The Risks and Rewards of Being in Business
Entrepreneurial advice and inspiration
Last year’s news about Canadian skier Sarah Burke’s tragic death triggered a memory from my teenage years that taught me about risk taking in business. Every weekend my mother, sister and I headed to the slopes of Snow Ridge, a ski resort in Turin, NY. As my mother taught ski lessons, my sister and I ventured to the hills for a fun day of skiing. Having always enjoyed skiing as a recreational sport, I never thought about racing until my sister and I were approached to join the junior racing team.
Knowing we were very good skiers, we accepted the invitation to join. I’ll never forget the apprehension that flooded over me when I lined up for my first race. All of a sudden the thought of “wiping out” during the race swept over me. I felt paralyzed by the fear more than the excitement of the challenge. It’s funny how fear can cause both adrenaline and the temporary feeling of not being able to move at the same time.
It was too late to back away as I approached the gates. All I could do was move forward through the fear using my knowledge of skiing to weave through the icy turns. The short racing run was probably the longest run of my life. At the bottom of the hill, my sister and I relished the experience but a couple weeks after being on the racing team we came to different decisions about our futures as skiers. My sister, with a little bit more bravado than me, continued to race. I decided to enjoy the unpressured joy skiing brought to my life. Racing wasn’t for me but I was extremely glad I tried it because I would have never known if it was something I should pursue if I didn’t test myself.
In business we freeze sometimes. We don’t have to be outside on a wintry day or at the top of a ski slope ready to race. We can freeze when we know must experience something new to see if it’s a right move for us. Whether it’s hiring an employee, taking out a loan, or expanding products, we can’t freeze as entrepreneurs. We have to give new adventures a try. It’s the only way to know what is next.
Today’s post is to remind you business is about risk. It’s also about reward. You won’t receive rewards without some type of risk. You don’t have to test your nerves on a ski slope but you need to test your nerves within your business. Moving forward and taking brave new steps is essential in business. What do you feel you are ready to tackle today?
Enjoy the risks and rewards of being an entrepreneur. Embrace the race at the top of the hill once in awhile and see if it triggers an unexpected knowledge about yourself and your future. “Thank you” to Sarah Burke for being a pioneer for women competing in the X Games.
Your Own Inaugural Address
Business Advice for Women Entrepreneurs and Small Businesses 
“Each time we gather to inaugurate a president; we bear witness to the enduring strength of our Constitution. We affirm the promise of our democracy. We recall that what binds this nation together is not the colors of our skin or the tenets of our faith or the origins of our names. What makes us exceptional – what makes us American – is our allegiance to an idea, articulated in a declaration made more than two centuries ago,” were the first words in President Obama’s Inaugural speech on Monday. Every president since George Washington in 1789 has delivered an inaugural message. Most Presidents use their Inaugural address to present their vision of America and to set forth their goals for the nation.
As I listened to President Obama I wondered why more entrepreneurs don’t start each New Year with an inaugural address to their customers. It wouldn’t have to be delivered on the steps of a major building, adorned in corporate colors with celebrities singing at it and millions of people watching, it could be done simply in spoken or written word distributed to clients to re-iterate our corporate vision, mission and commitment to them.
After doing business with a particular company for a year or two or a decade or more, we might forget why we’ve chosen to work with that company, what they stand for and what they promise to do for us. I have decided to create my own inaugural speech of sorts as 2013 begins to deliver at every Women TIES event region I attend in January, February and March. Its purpose is to remind women entrepreneurs about my passion and commitment to marketing their names in hopes of increasing their opportunities for sales locally, regionally and state-wide.
The most important moment of the President’s speech to me was when he said, “It is now our generation’s task to carry on what those pioneers began. For our journey is not complete until our wives, our mothers, and daughters can earn a living equal to their efforts.” His words brought me to my feet in my living room with my son watching as I applauded. Every day Women TIES works diligently to help women earn more money in order to bridge the monetary gap of inequality that has lasted for so long. I am truly hopeful with this President and with New York State Governor Cuomo that equality in pay for women is closer than it’s ever been.
Today’s blog post is to inspire you to create your own inaugural speech for your customers. Outline your mission, beliefs, and the benefit your clients receive in the year ahead. Remind them why they should be involved with your company by listing what you are doing for them and its importance.
I hope you write your inaugural speech every year and deliver it in the mail or via email or even at a customer appreciation event in person, to remind your customers why your business exists and why your personal mission to help them makes you someone they should continue to do business with.
Re-committing to Broken New Year’s Business Resolutions
Advice for Women Entrepreneurs and Small Businesses
The news reporter said, “Today is the most depressing day of the year, it’s when most people realize they have broken their New Year’s resolutions. Their hopes for a change are squashed within 22 days.” It’s tough to stay on course with a new habit whether it’s a personal or business habit. By nature, humans love familiarity and comfort so breaking out of poor routines can be a struggle.
I think one of the difficulties of being an entrepreneur is recognizing habits we need to change, committing to changing the habit, setting a goal and sticking with it. Business habits that might need to be changed could be conducting routine sales calls, maintaining an orderly receipt filing system, setting up customer service appointments or even keeping the coffee room clean. We know what we have to change so we set out each New Year with the best intentions to keep new promises.
If today is the day you are disappointed at how disorderly your desk has become 22 days into the year, disillusioned by the new social media marketing you were committed to perform starting January 1st and haven’t done or disheartened that you haven’t picked up the phone in 3 weeks to talk to a customer, stop and re-commit yourself today. Here are a few things you can do to get back on track:
* Realize a small slip-up by the 22nd day of January doesn’t mean the whole year of good intentions is shot to hell. By recognizing a small failure and re-committing yourself to correct the behavior for the next 22 days, is a good place to start. Make a note on your calendar to re-check your status on February 13th. Give yourself 22 more days to make the new habit stick.
* If you are a social person who likes support, ask a few entrepreneurs you know well to allow you to share your goals and struggles via email or skype when you need the support. There’s a reason alcoholics succeed by attending AA meetings. The support of others can keep us accountable so we adhere to our goals.
* Recognize progress when you sense it. If making weekly sales calls is a goal, pick a specific day of the week you’ll conduct sales calls. At the end of that day, treat yourself to something special – dinner out, a movie, a bottle of wine – anything to acknowledge you stuck to your plan. Positive reinforcement helps cement the good feeling of accomplishment in our mind for future success.
I’ve always loved the number 22 so I’m going to treat the 22nd of every month as a check point to make sure I’m staying on track with my yearly goals. 
I think if you do the same you’ll discover when December 22, 2013 rolls around you’ve achieved more New Year’s resolutions than you thought you would.
Women TIES 