The Downtown Women's Club womensDISH blog

A SMART Goal Can Make A Big Difference

Want to hear something scary? There are only 23 days left in 2009. If you haven't started setting goals for 2010 yet, this is the time to do it!

One thing that can really help you achieve your goals is to remember the acronym SMART while you set your goals. This will help you set goals that are:

Specific - A specific goal is just that - specific. There is a big difference between the goal of "I want to make more money in my business" and "I will earn an extra $500 in my business during January 2010 versus January 2009."

Measurable - In the above example, the first goal was not very measurable. The second goal was VERY measurable. It will be very easy to tell if you earned an extra $500 in January 2010. You will know on February 1 if you met your goal.

Attainable - If your goal is not attainable, you will be setting yourself up for failure. When that happens, you will likely be discouraged and will not try to achieve other goals. Don't let that cycle begin. Create goals that are a stretch to achieve, but not so far out of reach that you would never be able to reach them.

Realistic - If you have never designed a website, it would be very unrealistic to set a goal of creating a great-looking, professional site for your business in the next 3 days. Create realistic goals that you really do see yourself achieving.

Timely - Give each of your goals a deadline! I once heard someone say "A goal without a deadline is a wish." Such a true statement! (I wish I could remember where I head that, in order to give that person credit).

During my Indie Biz Chicks Twitter Party last night (I hold #indiebizchat each Monday from 9 - 10pm Eastern), we chatted about goal setting and biz planning. One of the things that many people said they had a problem with was accountability. Without having someone to be accountable to, it can be very easy to forget your goals.

An easy solution is to hold weekly accountability meetings with some business friends. Each week, you can tell each other what you'd like to accomplish and then report back the next week. This is also a great way to get feedback and support on your business activities.

To learn more about my Twitter Parties, click here.

Getting back to loving what is

Over the last several months, there have been a number of important shifts happening in my business. Some are perfectly normal and comfortable and leave me wondering why I haven't always done things this way; others, quite frankly, scare the bejeebus out of me. Through all of it, I've found myself caught up in wishing - feeling like I need to overhaul my office, my internal processes, even the way I market the studio. This morning, what I realized I hadn't been doing at all was taking time to actually appreciate what I've spent the last five years building. And I wondered: hokey as the thought may seem, what would it look like if I spent less time constantly wishing things were different, and spent some time simply loving what is?

As independent professionals, we spend a lot of time learning. We read books, articles, blogs, all by people calling themselves experts, all proposing some new way that we need to do things in order to succeed. But how often do we really listen to ourselves? How often do we sit back, really look at where we are, and trust that we know what to do? And frankly, when everyone who owns an independent service business (and trust me, I count among that number) is writing all these articles trying to prove that they're an "expert" in something, how do we figure out who to listen to and who to ignore?

I'm beginning to think the answer lies in shutting down the noise - at least for a little while - and going back into ourselves. I think we need to start with what we do know, and then worry about what to add to that knowledge. I think that we need to trust that we're enough.

You Have To Know Who You Are

When it comes to marketing and advertising, the first step isn't creating a great looking website or flashy promotional materials. The first step is to figure out who you are, what your business is, and who you are trying to reach. Those questions can have many different answers - and those answers can greatly change the way you market your business.

Let's say you design hip baby clothes. It wouldn't make sense to take out an ad on a motorcycle website. Yes, some people who own motorcycles are parents, but people go to a motorcycle website to get motorcycle information.

It would make a lot more sense to take an ad out on a parenting website. The type of parenting site will make a difference. Remember - you make hip baby clothes. A website that caters to young, modern parents who  live in a more urban area will be your best bet.

Your website and marketing materials will also need to match the product and target market. Your business card should not feature a traditional blue and pink color scheme or bunny and bear motif. Your design needs to be edgy and scream the words "hip" and "modern."

On the other hand, let's say you are a freelance public relations specialist who likes to work with small corporations. These people are going to be more conventional and business-minded. The design should be somewhat classic and reserved, displaying a refined style.

It can be easy to get lost in these decisions. You may have a clear-cut vision when you start your business, only to have it become blurry as time goes on. Some people are afraid of losing clients or work, so they try to be everything to everyone. That cannot be done.

Instead, decide on exactly what work you would like to do. Then, define exactly who your 'ideal customer' is. One you know that, you can focus on attracting the clients you really want to work with.

Since you will be working on the tasks you actually want to do with the type of client you prefer working with, you will find yourself a lot happier. It will be a win-win situation!

Tips For Greater Productivity

Trying to boost your productivity?  Here are a few tips from a recent American Express Open Forum post:

1. Focus on one thing at a time.  Yes I know we are better at multi-tasking or so we think but focus gets so much more done in a shorter period of time.
2. Break up projects into tasks.  Something you've dreaded completing because it's too large can be achieved if it's in manageable pieces.
3. Prioritize your work.  Some people use the ABCD method.  Others use the David Allen Getting Things Done method.  The trick is to find a methodology that works for you and apply it consistently.
4. Create your To Do List the night before.  Better yet create a to do list for the following week on Friday.  Then each night determine what you will complete the following day.  Be wary of those tasks that keep moving from week to week and aren't being completed.  This past year I began working with something called The Planner Pad. While I continue to use Outlook for my calendar and contacts, I use my Planner Pad to plan the flow of work I need to accomplish day-to-day. It only cost me $25 for the year!
5. Know your energy peaks and valleys so you can plan your work accordingly.  Ever try to write when you're tired or hungry?  How much do you really get done?

I recommend reading the entire post for the rest of the tips. I think you will find them all useful.

Susan is a business advisor and consultant.  She works with CEO's to enhance their strategic decision making through improved financial intelligence and by creating their company's advisory board.  Susan is the author of the soon to be published Advisory Board Kit, a guide to assist business owners implement their advisory board.  Susan can be reached at susan@schammond.com.

What Are You Planning for the Fall?

Over on my own blog I talk about doing a mid-year review in July every year.  We are coming on Labor Day which is called by some the "businessman's new years".  The time around Labor Day presents another opportunity to look at your business and tweak your planning for the remainder of the year.  It also gives you a tremendous opportunity to getting a running start for 2010.  We are all hoping for a better 2010, right?

Here are three more questions to consider in addition to those I pose for completing a mid-year review:

• What is the one big goal you'd like to achieve for the remainder of 2009?
• What are the small daily steps you can take to gather momentum toward achieving the goal?
• What will it take to keep building the momentum?  Do you need a coach to hold you accountable?  Should you share the goal with your advisory board or CEO Forum?  What's it going to take?

Susan is a business advisor and consultant.  She works with CEO's to enhance their strategic decision making through improved financial intelligence and by creating their company's advisory board.  Susan is the author of the soon to be published Advisory Board Kit, a guide to assist business owners implement their advisory board.  Susan can be reached at susan@schammond.com

How to Maximize Learning at Conferences etc.

John Maxwell in his book Talent Is Never Enough recommends using a coding system when attending conferences, webinars or teleclasses to maximize what you get out of the "teachable moments" as he calls them. Here are the codes he suggests you include in your notes:

    T    spend some time thinking on that point;

    C    indicates something you need to change;

    :)    something you are doing particularly well;

    A    something you need to apply;

    S    information to share with someone.

Try this the next time your in a learning situation and let us know how it goes.

Susan C. Hammond
Connecting Information, People & Decisions
www.schammond.com

Are we letting a serious crisis go to waste?!

The phrase or some derivative of it seems to be appearing more and more.  It's really a challenge to do something productive with all the downtime brought about by too few job opportunities, consulting work or the like.  So what are you doing? Are you at all thinking of innovating?

Now is a great time to capitalize on the intellectual property you have developed over your career.  Can you develop a product from the services you have been offering for years to create an offering at a lower price point?  Can you repackage an offering in a different way that changes the price?  Many people think a recession is a good time to launch a new venture.  It surely tests your mettle.  If you can make it in a down-cycle imagine what you can achieve in an up-cycle.

Here's what happened during the Great Depression:

• Dupont developed neoprene and nylon
• Hewlett & Packard launched their technology company
• Texas Instruments came into existence
• Revlon launched long-lasting nail polish
• 3M creates Scotch tape
• Miracle Whip was born

So what are you working on?  What unmet customer needs are emerging that you have the passion and intellect to address? What underutilized resources can you avail yourself of at a relatively low cost? How can you squeeze out profitability by turning the age-old business model on its head?

If we start thinking this way and then implementing our ideas, maybe, just maybe, we can swing the cycle in an upward direction. 

What are you doing?  This is my challenge to you. Let me know.

Susan C. Hammond
www.schammond.com

Developing the Teenage Entrepreneurial Spirit

It's only April but some people are wondering what to do with their teenagers this summer. With the unemployment rate being what it is...entrepreneurship just maybe the answer.

Sue Shellenbarger discussed a few possible business ideas for teens in her recent Wall Street Journal article Cupcakes and Cattle Breeding: Teens Turn to Summer Start-ups.  I did some research on my own and came up with the following selection of organizations encouraging teen entrepreneurship:

• National Foundation for Teaching Entrepreneurship
• Junior Achievement
• Initiative for a Competitive Inner City, or ICIC- the Growing Up CEO program
• Teen Business Link, the SBA site for teenagers interested in starting a business
• Independent Means, the leading provider of financial education products and programs in the United States.
• Also see Entrepreneur magazine, Teen Business Sites for more organizations.

Starting a business at a young age is a priceless (no pun intended!) experience. I encourage you to support your teenager and be prepared to learn along the way as well.

Let us know how it goes.

Susan C. Hammond
www.schammond.com

Wanna Turn Your Customers into Stark-Raving-Mad Fans?

Believe it or not, we've just entered Q2 of 2009! How are you progressing towards your business and personal goals? The Q1 progress I'm most pleased with is my follow-through on my media-related goals - creating new podcasts, blog articles and (unexpectedly) video content to help leaders achieve sustainable results.

Well, if you're seeking some ideas to build customer loyalty for your business, I'd invite you to listen to and download my latest podcast called: Wanna Turn Your Customers into Stark Raving Mad Fans?

This podcast is a conversation between myself and Randi Busse, president of Workforce Development Group, a coaching and training firm. Randi helps business owners and their employees to turn their customers into raving fans! You'll get helpful tips from this podcast whether you're an aspiring entrepreneur who’s thinking of turning your “side hustle” into a business; or if you're a Sales or Customer Service rep who's looking to kick off Q2 and take your revenues to the next level -- even in today's economy!

Randi and I discuss the difference between customer satisfaction ("Yes, I was pleased with the product or service you provided to me.") and customer loyalty ("OMG! I'm so excited! I'm tweeting all of my friends & family about how GREAT your product/service is. Can I fan you on Facebook?!"). She suggests that to figure out which category your customers fall into, you should ask them one question: "Would you recommend my product/service to someone else?"

We've all seen the signs and slogans: "Our Customers are # 1" or "Customer Service is our TOP Priority". To assess how well your business is really doing in this area, Randi suggests that you "shop" your own business to get a true sense of the customer experience. This may be a bit challenging for fellow solopreneurs; yett anonymous surveys distributed via Survey Monkey or some other online tool may help you gather feedback and referral likelihood from your customers.

After you've listened to our podcast, you may want to check out this success article by Ivan Misner for a slightly different take; it's called: Good Customer Service Alone Does Not Mean Referrals. He suggests that good customer service alone doesn't necessarily increase your business. It's also about how well you have cultivated your referral network. And, a key part of that equation is whether or not your referral partners maintain their credibility with their contacts after they send business your way. (You know - like the time your friend sent you to a restaurant or salon and their "favorite" waiter or technician was off that day, and you had a horrific experience!)

Do you have any stark raving mad fans of your business? How do you nurture and massage your referral networks? If you'd like to join the fans of InStep Consulting, come visit us on Facebook.

BTW, the tips and ideas in the podcast can also be helpful for those of you who are in the job market looking for a new opportunity. Share your comments here or you can always "tweet me" on Twitter - just search for Coach_Colette.

Are You Looking to Start A Business?

Before you do I recommend reading Kelly Spors' Wall Street Journal article So, You Want to Be an Entrepreneur. You need to find out if you're cut out to be an entrepreneur before you jump off the mountain.   So the article is a must read for those of you recently laid-off and thinking this is the solution. 

Entrepreneurship is not for everyone. Ms. Spors challenges the would-be entrepreneur to ask herself the following questions:

1. Are you willing and able to bear great financial risk?
2. Are you willing to sacrifice your lifestyle for potentially many years?
3. Is your significant other on board? 
4. Do you like all aspects of running a business? (I would add do you know what all the aspects are?)
5. Are you comfortable making decisions on the fly with no playbook?
6. What's your track record of executing your ideas?
7. How persuasive and well-spoken are you?
8. Do you have a concept you're passionate about?
9. Are you a self-starter?
10. Do you have a business partner?

All these questions are important and need to be addressed in detail.  The one most critical for me is #8 asking about your concept.  I have met many people over the years who lack passion and vision for what they are doing causing me to ask "why bother?".  Entrepreneurship is a daily slog through obstacles.  It is also the greatest race you will ever run and the victory of winning, in whatever way you define, is ever more sweet as it is yours and yours alone.

If you're serious about starting a business I recommend you check out the local Small Business Development Center and/or the local Women's Business Development Center.  If you are local to Boston the Center for Women & Enterprise runs several workshops, some of them free, that will help you answer the ten questions.  Best of luck.