I have just returned from the first training session of the year by the Protocol School of Washington, one of our clients (www.psow.com).It was, as Bill & Ted might have said, quite an excellent adventure.A long weekend in our nation’s capitol, interesting and relevant information presented by a variety of experts and most of all an eclectic group of international business people from all backgrounds seeking one thing: new ways to compete;and in this case, different ways to “outclass the competition.”Because, as we all know, sales don’t get made by email or text message; sales get made by relationship building, people skills, knowing what to say and when.
And so today, fresh from this trip, here are a few thoughts for the brave individuals who have started their own businesses on a shoestring and a prayer in these uncertain times.
1. 1. Time and Money are Interchangeable – A friend of mine owns a detail/body shop.He specializes in Mercedes. In his glove box, he carries several dozen computer-printed 5X7 flyers that say, “I specialize in Mercedes body work and detailing.When work is slow he drives through parking lots and looks for these cars. When he finds one, he scribbles a little note to the owner, such as “metallic flint gray has always been my favorite color on this model. I’ll bet you’re proud of it.” Then he slips the flyer under the windshield wiper. He often gets calls on his cell phone before he even gets back to his shop. But we’re not just talking about flyers, here. Time and money are always interchangeable. When you’re short of one, spend the other.
2. Expensive Rent is Cheap Advertising – Be where the people are. Have you ever noticed the shoeshine guys at airports? They make a small fortune even though they have to pay extremely high rent to be there. But it’s a lot less money than they would’ve had to spend on advertising to generate the same amount of business.
3. Free Samples are Cheap Advertising – A few years ago I began working with a guy who owned a local cheesecake business, providing the desserts to local restaurants and at retail locations.On the day we met, he said he would be happy to invest $10,000 in advertising if he could count on seeing 500 new customers. It was the middle of winter and his 2 local “stands” had no inside dining. I told him to prepare enough cheesecake mixture to keep his stands running non-stop for 15 straight hours and to get a good night’s sleep. The next day we began airing a 60 second radio ad twice every hour on a medium-sized station offering free, full-sized slices to everyone in town; all they had to do was stop by one of the locations before midnight. We gave away more than 11,000 slices that day at a total cost of less than $3,000 – including the cost of advertising. His business exploded and now he’s manufacturing and selling to national grocery store chains.The cost of free sampling is incremental. If no one responds to your offer, it costs you nothing. If you spend a lot, it’s only because it worked well. Do you have a product or service that can be sampled?
4. It’s What You Say that Matters Most – The smaller your budget, the more important it is that you make a compelling offer. Everyone is the right person to reach when you’re saying the right thing. But there are no right people when your message is limp. I’ve never seen a business fail because they were reaching the wrong people. But I’ve seen hundreds fail because they were saying the wrong thing. Be sure your message rocks the house.
Give it all you’ve got. We’re cheering for you. The future of our economy depends on the success of entrepreneurs like you.
Tags: go for the gold, listing your resume, losing a job, starting a business