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ISSUE #48
February, 2003
After publishing this newsletter since 1999 and running the Lunchtime Telephone Roundtable for the past 6 months, I see there is a crying need for a place where small business owners can congregate virtually. I envision it as sort of a virtual water cooler where entrepreneurs can discuss their problems, get answers and use their peers as sounding boards for new ideas. I believe that the logical next step for me is to organize such a virtual community of small business leaders.
Think of this as a business owner's club where everyone can benefit by exchanging expertise and services. Big businesses have their conferences, seminars and dinners, all at great expense of time and money. As a member of this virtual community, you'll have the same exposure without the expense. There are more of us than there are of them. As a small business owner you're a member of the largest business club in the world.
It's too early to go into detail about it as yet. I just wanted to whet your appetite for what's to come. I've passed this idea by my friends and colleagues. They've enthusiastically offered me their suggestions as to how I might organize it and what they'd like to see included. I'm now in the planning stage and would sincerely appreciate the benefit of your thinking as well. Send your thoughts to marian@primestrategies.com.
More on this next time.
This month's article focuses on Trend Watching. What's going on outside your business is just as important as what's going on inside. Consider the article, "Be a Trend Watcher", as an eye opener for your business.
Please come to the Roundtable this month if you can. It's become a place that people want to come back to. There's room for up to 30 people on the call. See the details below if you think you can make it on February 20th at 1 p.m. EST.
Thanks for your continuing support.
To your success,
Marian Banker
Publisher
Small Business Leader
mailto:marian@primestrategies.com
http://primestrategies.com
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FEATURE ARTICLE: Be a Trend Watcher
There are only so many things we can actively control in running our business. Beyond our grasp are the changes that take place externally. This would include world events, economic climate, market sentiment and happenings within our industry and our local community. That doesn't mean we can't take advantage of them, however, if we know what they are.
I enjoy reading The Herman Trend Alert, http://www.hermangroup.com, which offers insight into evolving trends that effect small business. Coletta & Co., http://www.colettaandcompany.com/public/index.cfm?CFID=1450425&CFTOKEN=93517885
also offers a twice weekly Trends Digest that helps me stay aware of new trends.
Consider some of the obvious trends we read about over and over again; aging of the baby boomers, renewed focus on home and family, people's desire for more meaningful work, etc.
Riding the upward sweep of a clear trend can be a great foundation for business growth.
Maria is a Latina, originally from El Salvador, now living in the Bay Area, who sees the heightened interest in the Hispanic market. And it is all around her. She is building her marketing business on that trend. She knows the culture and has a unique and valuable perspective.
Denise's rehabilitation clinic has been experiencing continued cuts by her patients' third party payers. She has solved this challenge by tapping into the trend toward greater personal responsibility for health and wellness. She is building a growing self-pay business based on new pain management technology, exercise therapy and massage. Denise has taken the lead in evolving her business to take advantage of this strong socio-economic trend.
In their upcoming book, "Impending Crisis: Too Many Jobs, Too Few People", the futurist team of Roger Herman, Tom Olivo and Joyce Gioia, cite a Bureau of Labor Statistics report indicating there will be a shortfall of 10,033,000 qualified people to fill open positions by the end of the decade. They offer insights and suggestions on finding qualified people - and keeping them. The shortage (www.impendingcrisis.com) of these workers will inhibit American economic growth until the supply is rebuilt and reallocated. What a great opportunity for those who can fill this unmet need.
In line with this trend, Joseph and his father, who run a tool and die manufacturing business, are seeing a surge in demand for their products and services. Because they can't find enough qualified people, they are seeking government grants to set up paid apprenticeships with strong incentives to stay with the company. By staying aware of the government's support of skilled worker education, they are able to grow their business -- and fill a market need.
Right now the entertainment industry is booming, particularly film and DVD. Creatively done independent films are being successfully marketed.
Following a lay-off from a network administrator's job in an industry he had served for many years, Greg decided to pursue his childhood dream of screenwriting and movie production. He researched the industry trend and saw the need for mature people with basic management skills. Armed with a plan, he's been able to open doors for himself in the industry. Yes, he started as a volunteer, but quickly proved himself to be a capable leader.
Only three months after his layoff, Greg is on a paid internship and has a paid production job coming up. It helps that he's in New York City, but independent film making is seeing a surge across the country, so location is less important than ever.
When you think like a leader and learn to trend watch, you'll be able to view all news from a different perspective. Ask the question, "what does this news mean for me and my business?" Look for trends to see how you and your business can be part of a solution or serve an unmet need. Tomorrow's business leaders will know how to read and use trends.
Consider what trends have potential for YOUR business. Tap the internet for what's happening in those trends. Then plan how you can harness the energy of the upward sweep.
ACTIVITIES:
February Lunchtime Telephone Roundtable
This Month's Topic: "Getting Past the Gatekeepers"
Date: Thursday, February 20, 2002, 1 to 2 p.m. EST
Moderator: Marian Banker
Guest Expert: Norma Siciliano; author, speaker, trainer, coach and award-winning sales executive. Norma spent 10 years selling advertising at Conde Nast's House & Garden magazine in New York. She initially learned her craft selling ads at a local newspaper and cold calling door-to-door on mom and pop shops. Norma's goal is to help you improve your cold calling performance to maximize your sales and income.
In this Roundtable you'll learn the key to opening the gate and how to confidently introduce yourself and your product or service in the cold call setting. Norma will show you how to integrate this key and make it part of your intro. You'll also get some tips on using voicemail to your advantage.
Bring your questions, share your experiences or just listen to the interaction, but don't miss this chance to speak with an expert on cold calling.
To register and receive the call-in number, send an e-mail to
marian@primestrategies.com with the Subject as Roundtable.
Here's just one of the many positive comments from the last Roundtable...
"The Roundtable was great. It was good to hear that other people are having the same challenges I have." Tony Addesso, Architect, New Jersey
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RESOURCE:
BUSINESS LEADERSHIP FOR WOMEN
Women business leaders are joining forces to create a group focused on enhancing women's leadership role in their business, the economy and our government. They are in growth mode, opening new chapters around the country. A great connection to other women business leaders.
http://www.thewomenschamber.com/
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ARTICLES:
FAT-FREE SELLING
Bring your prospect a new lead or a means to get new business and you'll be more welcome than if you come bearing doughnuts. Jeffrey Gitomer, in "Build Fat-Free Relationships" explains how to build strategic relationships with those who can most benefit from what you offer.
http://www.bizjournals.com/extraedge/consultants/sales_moves/2003/01/06/column329.html
RULES FOR FUNDING HAVE CHANGED
Yes, you can still get capital for your business, but the rules have changed. Jana Mathews, in "Raising Money in Today's Economy", gives a great overview and solid suggestions on how to go about building your business in today's economy.
http://entreworld.org/Content/EntreByline.cfm?ColumnID=457&PID=3125&EID=47&JID=23
SECRETS OF TOP SALESPEOPLE
It's not what you think. This article from the Gallup Management Journal emphasizes adopting a selling style that takes full advantage of your greatest talents. Learn the simple and the more difficult part of applying this knowledge.
http://gmj.gallup.com/book_center/DYSS/excerpt.asp?i=310
WHAT CUSTOMERS WANT
Fast Company author, Bill Breen, presents his perspective on how consumers are dealing with information and product overload. With supply greater than demand, there is a need to be able to quickly identify what's valuable. Read this article; then see how your marketing addresses this need.
http://www.fastcompany.com/online/67/desire.html
NETWORKING TIPS FOR THE SHY
Joan Lloyd offers some solid in-person networking tips for anyone, but they're especially valuable for the timid. One way to network without have to be there in person is to attend the Lunchtime Telephone Roundtable. See this month's Topic, Date and Time above.
http://www.bizjournals.com/extraedge/consultants/at_work/2003/01/27/column48.html
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ABOUT THE PUBLISHER:
Marian Banker has been publishing Small Business Leader since January, 1999. Her focus is on bringing to the busy entrepreneur a quick look into the current world of small business from the
perspective she's gained from coaching, consulting and training entrepreneurs in both service and product based businesses.
Marian offers individual coaching, business support groups, seminars and workshops on topics of critical interest to small business owners. Her monthly Lunchtime Telephone Roundtable has proven to be a popular way for business owners to come together around a specific business topic without leaving their office. See notice about this month's topic in the content above.
To learn more about her services, visit http://primestrategies.com.
FEEDBACK:
Your feedback is always appreciated. Please write to marian@primestrategies.com.
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COPYRIGHT 2003 SMALL BUSINESS LEADER
A publication of Prime Strategies
http://primestrategies.com
MNMBZ, Inc.
Notice and Disclaimer:
Of course, I'm open to your including my content in your publication with proper credit. You must, however, obtain my written permission first. Thanks!
Content in the SBL is for information purposes only and should not be construed as specific advice.
