Strategic Networking
No matter what profession you are in, networking is key to success in meeting new contacts which is important for business growth and development. Women entrepreneurs are extremely busy individuals with bustling careers and a million hats to wear. So networking should be done wisely and purposefully. Here are a few success strategies to help you network and connect.
List Your Networking Goals: Before you join any organization, go to a networking event or go to a regional or national conference for ultimate networking, you must list your networking goals. Successful women network to sell, not network to socialize. So setting networking goals, finding the right organization, the right events and the right people to network with are key components to succeeding in this area. Just like life, goal setting leads to success so you must establish solid networking goals.
Connect After You Network: Once you network, you must take action and connect with the contacts you meet. Remember if you are networking for increased sales and financial success, then follow-up after networking is essential. Many great opportunities are lost because follow-up is never done after the initial contact. Networking only turns to sale if you connect afterwards, so make sure you walk out of an event and commit to follow through with the individuals you meet.
Remember to Network and Connect with Old Contacts: After you are done connecting with new potential clients, don’t forget to connect with clients from your past. Don’t fall into the trap of “out of sight, out of mind” once you have completed business with a customer. Past clients and business contacts can be prime candidates for new connections and new sales. Give them a call or send them a letter reconnecting and telling them about new services you are providing to clients. Go to lunch and catch up. See if they would like to work with you again. Old contacts could mean new revenue.
Market to Changing Demographics
Recent studies show our population is getting older, becoming more multicultural, and are increasingly crunched for time. It’s imperative as entrepreneurs to pay attention to shifting demographics and the preferences of today’s buyers.
How current is your marketing strategy related to today’s changing demographics?
Can you do business the same way you did business five years ago? What has changed? What haven’t you changed? What must you do to stay competitive? Today’s post provides insight on some of today’s hottest markets.
Money Is With The Baby Boomers: The baby boomer population will increase by 25% in the next decade. Do you currently have a product or service geared towards this demographic? If not, can you create a new line or service for this growing population? Take a look at your current services and products, along with the needs of people in this age group, and see if you have opportunities to sell to this growing market.
Grab the Attention of the Young and Trendy: As important as the aging baby boomer market is for women entrepreneurs, so is the young and trendy X generation. This age group spends billions a dollars a year on trendy merchandise, services, and products. Do you have a product that can be marketed to this demographic? Can you re-create or update a current product and create a ‘trendy’ new line for this demographic? Research where this demographic shops, their likes, their spending interests and then create a marketing plan to capture revenue from this billion dollar spending group.
Market Globally: We live in a global buying market thanks to the Internet. Your biggest clients might still be located within close proximity to your business, but don’t forget about the millions of people nationally and internationally who could become your customers. Are you curious about marketing and selling globally? If so, start researching local companies who are already doing business this way and see if you can meet with their owner or talk to someone in their organization about how to get started. Attend a seminar on international marketing. Research advertising options online in order to market your product or service on an international basis.
Supporting Women Leaders
Watching the recent political conventions, I noticed how ecstatic women in the convention hall become when Hillary Clinton or Sarah Palin’s names are mentioned. There is also a thunderous applause anytime women’s rights is spoken at the podium. There is a rumbling thunder which keeps getting louder as women achieve greater heights. How far away is the possibility of not only a female president or vice president but a ticket with two women on it? What a fantastic day that will be.
In Central New York some of the biggest and most innovative changes have come from female presidents of some local colleges. Each of them have brought amazing changes to their campuses. Dr. Debbie Sydow, President of Onondaga Community College (http://www.sunyocc.edu), Dr. Nancy Cantor, Chancellor of Syracuse University (http://www.syr.edu), and Dr. Deborah Stanley, President of SUNY Oswego (http://www.sunyoswego.edu) are just a few of the female college leaders making positive impacts in our community. It is only a matter of time before a female president will grace the white house and make similar positive influences for our nation.
As women entrepreneurs we can move towards this possibility by supporting all women in their endeavors – business, political and socially. Women TIES believes in the power of women. Women must support each other so we can move towards a brighter future when female leaders propel our economy, country and future towards a brighter horizon.
Repeat Customers
There’s an old saying in business, “Your best customer is the one you already have.” Clients are hard to come by. Once you have them, you need to keep them happy, meet their expectations, and offer something better than your competitors or they might leave. Women entrepreneurs understand this and that’s why we continue to offer products and services to meet our customer’s needs. Your current clients can help you remain successful in business two main ways:
Repeat Business: If your clients are happy with your services, they have a better chance of returning as clients. If your customers aren’t lured away by competitors, they will buy from you again. If you keep your clients consistently aware of you and what you offer, they will become repeat customers. Keep these three thoughts in your mind today when you business this week.
Referrals: A satisfied client can be your company’s best salesperson. Friends, family and business associates of your customers can become your next clients. If your clients have a positive experience, they will discuss your business with others. Remember to ask your customers to refer your business to others. Make sure to thank them every time a reference comes your way.
Problem Solving
When business problems arise, a smart woman entrepreneur needs to focus on how she finds inspiration and time to contemplate, work on and solve the destressing issues facing her. Women instinctively know what inspires, motivates and helps them during times of peril.
Problems can be reviewed in the early, quiet of morning when all is still and our heads are clear. Issues can be “worked out” with a good run, yoga, or other physical exercise. Clarity can also come by talking to other women entrepreneurs who have experienced the same trials and tribulations. No matter what method brings relief, it is always best to face problems in the eye and work through them sooner than later.
With business demanding so much of our time, allowing unsettled problems to occupy our mind is not smart business. By finding assistance, inspiration and clarity, we give ourselves the help we need to move forward.
Poor Partnerships
Strong female leaders often partner with others to reach their goals. Today’s world abounds in collaborative partnerships. Leaders must realize it is dangerous to their business to have an unhealthy or destructive partnership. In order to identify poor partnerships review this list of signs:
* The parties don’t have similar goals.
* The parties don’t share similar work ethics.
* One of the partners must compromise on their convictions.
* One of the partners benefits and one always loses.
Good partnerships do not foster co-dependence or independence but rather interdependence. The partnership multiplies the productivity of both parties.
Courage
Women entrepreneurs are leaders. We lead our companies, our employees, our clients. We lead in our homes and in our communities. Vital progress in any aspect of life requires leadership and women make great leaders.
To be a strong leader we need to be courageous to make the right decisions, to press on when the going gets tough, to stand up for what we believe in, and to have a positive attitude when it is the last thing we feel we can do.
As entrepreneurs we face tough decisions every day. We decide whether to raise our rates, fire a client, stand our ground on an ethical business decision, expand our company, seek financing to grow, hire employees, or change our products and services. To make these decisions we need to lead from within, using our instinct and courageous ways to successfully proceed. Courage is an essential attribute for women entrepreneurs.
Courage Begins with an Inward Battle: It is often said, “Courage isn’t an absence of fear – it’s doing what you are afraid to do.” Women entrepreneurs are tough, resilient, smart thinkers. We understand that doubt and fear is a part of living but we push through knowing we have more strengthen and determination inside us than fear. Courage is our middle name.
Courage In A Leader Inspires Commitment From Followers: The most respectable women business owners I know are courageous women who are surrounded by other women who respect them. Their “followers” are their dedicated employees, staunch supporters, business allies, and strategic partners. These courageous leaders attract supporters because of their desire for excellence, perserverance, and an unrelenting belief in their mission. Courage by a leader inspires.
Your Life Expands To Your Level of Courage: A Roman historian once said, “The desire for safety stands against every great and noble enterprise.” Women entrepreneurs open doors, advance their entrepreneurial vision, and succeed quicker when they are courageous. Nothing is impossible. The sky is the limit.
Business Plateaus
Every woman entrepreneur sometime in her business life hits a plateau. It is a natural part of developing a business. Once a plateau is reached, the business owner wonders how they can move beyond it.
Periodically entrepreneurs need to go back to their business plan and re-examine their short and long term goals. An analysis will determine if someone is on track with what they projected. Sometimes women get so busy running their businesses, they forget to look at the “plans’ that got them moving in the first place. A business plan is a road map to be referred to often. It is an ever changing, ever evolving business tool.
If an entrepreneur can’t work through the plateau after reviewing their plan and making revisions, they should ask for help. A business coach or adviser might help identify problems and push them through to the next level. Advisers can be vital in lending the right advice to get women moving in the right direction again. Remember, women love asking for advice so don’t go too long before seeking the counsel you need to propel your through the rough patches.
Strategic Alliances
Market Demographically
Recent studies show our population is getting older, becoming more multicultural, and are increasingly crunched for time. It’s imperative as entrepreneurs to pay attention to shifting demographics and the preferences of today’s buyers. How current is your marketing strategy related to today’s changing demographics? Can you do business the same way you did business five years ago? What has changed? What haven’t you changed? What must you do to stay competitive? Here are some success strategies to help.
Money Is With The Baby Boomers: The baby boomer population will increase by 25% in the next decade. Do you currently have a product or service geared towards this demographic? If not, can you create a new line or service for this growing population? Take a look at your current services and products, along with the needs of people in this age group, and see if you have opportunities to sell to this growing market.
Grab the Attention of the Young and Trendy: As important as the aging baby boomer market is for women entrepreneurs, so is the young and trendy X generation. This age group spends billions a dollars a yearon trendy merchandise, services, and products. Do you have a product that can be marketed to this demographic? Can you re-create or update a current product and create a ‘trendy’ new line for this demographic? Research where this demographic shops, their likes, their spending interests and then create a marketing plan to capture revenue from this billion dollar spending group.
Market Globally: We live in a global buying market thanks to the Internet. Your biggest clients might still be located within close proximity to your business, but don’t forget about the millions of people nationally and internationally who could become your customers. Are you curious about marketing and selling globally? If so, start researching local companies who are already doing business this way and see if you can meet with their owner or talk to someone in their organization about how to get started. Attend a seminar on international marketing. Research advertising options online in order to market your product or service on an international basis.
Women TIES 