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Archive for the ‘Networking’ Category

Connect Like an Entrepreneur

Posted by advantagemarketing on March 26, 2012

by Loraine KasprzakThink like an Entrepreneur

Connections are important when you’re a business owner. As a marketing consultant, I enjoy helping other business owners connect and build their networks. Not too long ago I introduced the “two Debs” in my network to each other: Deb Palacio, managing partner for WebUndies.com, an Internet-based retailer of novelty loungewear and Deb Bailey, author, Internet radio host, and entrepreneur at DBC Communications.

This is one connection that definitely clicked. On her excellent Secrets of Success Women Entrepreneurs Radio program, Bailey interviewed Palacio about starting and growing an Internet-only business (listen to the interview). That radio discussion led to Palacio’s being included as an “entrepreneur mentor” in Bailey’s new book, Think like an Entrepreneur: What You Need to Consider before You Write a Business Plan.

Bailey wrote this book with the corporate employee (or ex-employee) in mind. “If you’ve spent most of your life working for someone else, you probably have no idea what it really takes to run a business – I certainly didn’t!” writes Bailey. The book gives an overview of things a prospective business owner should think about before planning and starting a business, and includes interviews with entrepreneur mentors who share their experiences.

In Palacio’s chapter, she candidly discusses how she got started and the challenges she faced. Before she started WebUndies, she had spent several years working for Nordstrom in the Lingerie and Women’s Active Wear departments. Palacio recounts how her passion was born, “One buyer in particular mentored me and invited me to accompany her on several buying trips… I will never forget the experience of walking into that first showroom. From that moment… I knew this was where my talent would blossom.”

One challenge she faced starting WebUndies was that suppliers didn’t want to deal with an unknown company with an unusual business model. They had difficulty “putting faith in a completely unknown, unrecognized company – and one that wanted to sell solely online, which [in the 1990s] was a completely new concept,” says Palacio.

The solution, says Palacio, “is to do your homework first and be well organized before reaching out to suppliers. You also need to believe in your venture and present it with the utmost conviction. This does help win over some of the tougher people.”

One piece of advice Palacio gives entrepreneurs is to “find what your areas of strength truly are. This will also help you to recognize your weaknesses. It is a vital step, and the sooner you can see where you need to ask for help from outside sources, the sooner you will be free to focus on developing the areas where you are most efficient.”

Now that’s connecting like an entrepreneur.

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Posted in Business, Marketing, Networking, small business | Tagged: , , , , , | Leave a Comment »

Building Local Word-of-Mouth for Your Business

Posted by advantagemarketing on February 15, 2011

Moving your business

When KC Creative relocated cross-country, owner Kathy Fulton had to do more than move boxes. She had to build another local referral network.

By Loraine Kasprzak, CMC

Kathy Fulton, owner and lead graphic designer for KC Creative, Inc., has been a friend and colleague of mine for more years than either of us can remember. She’s a master juggler – she manages her business, raises a family, and still finds time to train for triathlons. But even someone as high energy as Kathy was thrown for a loop when she had to relocate her business not once, but twice, in three years. After each move – from Chester, NJ, to Richmond, VA, in 2005 and then to St. Louis, MO, in 2008 – Kathy has had to re-establish her business in a town where her reputation and the quality of her work were unknown.

“It’s been challenging to maintain client relationships cross-country, get project work done, and establish KC Creative here in St. Louis,” Kathy told me. When old project work wrapped up and her sales pipeline emptied, she knew she needed to look for clients more actively. “I couldn’t rely on old relationships exclusively. I needed to build local word-of-mouth to get more business.”

Kathy shared with me what she’s doing to re-establish her referral network. As she rebuilds the second time, she’s learning which tactics work the hardest for her. These tactics can also work well for any service firm looking to build its own local network.

Accept invitations. Kathy started by accepting any invitation that came her way, especially to charity events and networking meetings, so that she could connect with the local community. She also saw the parents at her children’s new preschool as a resource. “If a parent invited me for coffee, I gladly accepted,” she notes. “As we got to know each other, I would mention that I was a graphic designer and share my business card.”

Volunteer your services.  Kathy found that volunteering her design services helps others get to know her and her work. She’s created invitations for fundraisers on a pro bono basis, and doing so has given her more visibility in the community.

Get on the Board. She accepted an invitation to be a Board member for a local charity so that she could further expand her network. The challenge here is to become known for her graphic design work and not just as a Board member.

Join local networking groups. Kathy joined a women’s professional networking group and attends their meetings as often as possible. “I’m starting to get some leads,” she says. “There’s an accounting firm in the group that has been very helpful.”

Tap your spouse’s network. Kathy’s husband works for a bank that sponsors events in and around St. Louis and she attends as many of these events as possible with him. “I made several good contacts at the bank’s holiday party, including the head of one of the larger local non-profits,” says Kathy. “I was able to arrange a breakfast meeting with her to discuss her graphic design needs.”

Schedule one-on-one meetings. Attending events and networking meetings is a great start, but Kathy knows she has to take it a step further. She sets up breakfast meetings with the business owners and community leaders she meets, so that she can listen, learn and help where she can. She comments, “These breakfast conversations often turn to how I can help them. It’s well worth it for me to give some free advice about how they can improve the look and feel of their marketing collateral.”

Make a conscious effort. With all the challenges of running a business and managing family life, Kathy learned she has to plan ahead to network. She schedules time each week to make follow-up phone calls, attend meetings or meet one-on-one with new acquaintances.

Stay in contact. The hardest part, says Kathy, is staying focused and following up with her new contacts. “I want to stay top-of-mind with strategic people without being overbearing. I’m creating a series of mailers to offer design tips. I also plan to send email blasts. LinkedIn and Twitter are helping me stay in touch too.”

Still, Kathy notes, it can be a slow process. “It takes time to get others to trust you and want to do business with you.  I’m just now beginning to get calls from prospects and others who will refer me for projects.”

What’s next?

Find out more about KC Creative. Kathy Fulton’s boutique firm specializes in graphic design and print production management. Stop by the KC Creative site.

Continue the discussion. What are you doing to build word-of-mouth and referral sources for your company? Please share your tips and comments below.

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Posted in Business, Marketing, Networking, Traditional marketing, Word of mouth marketing | Tagged: , , , | 1 Comment »

6 Tips from a ‘Gen Y’ Professional for Building Your Social Media Network

Posted by advantagemarketing on January 18, 2011

Maura Yost must have been born with a BlackBerry in her hand.  As a 20-something IT professional, she navigates Facebook, LinkedIn, and other social networking sites with the ease typical of Generation Y. Recently I asked Maura to share some of her tips from the 5+ years she’s been involved in social networking. Her insights are relevant for business owners and others who want to build their social media network. Here’s what Maura had to say:

Gen Y professional Maura Yost offers 6 tips for growing your social media network.

My virtual social network eclipsed my reality-based social network years ago.  I joined Facebook in 2004, MySpace and Linked-In in 2005 and Four Square in 2008.  I use Google Picasa to share my pictures and tag friends; I connect with other technical consultants through IT Toolbox and have used Yahoo Groups to do anything from donate old furniture to coordinate fund raising.  After graduating from college in 2004, expanding my existing social network to the business world was a natural step.  Here are my tips for taking advantage of existing virtual networks for your business:

  • Expand your virtual network by searching online for business-focused groups in your geographic area.  Yahoo, AOL and MeetUp.com each have networking groups for small business owners, entrepreneurs and business strategy.
  • Use search engines such as Google or Bing to find other sites facilitating conversation among people in your industry.  My personal experience searching for IT-focused business sites has always been beneficial and I’ve learned a lot from participating in conversations.
  • Research your questions using specific language in your searches.  It is more likely that you will find a site with users of your skill level and experience when you use the most detail queries.  Specific searches are the easiest way to find other people with similar questions willing to share their experiences.
  • Take advantage of larger networking sites, such as Linked-In to maintain relationships with colleagues, sales representatives or general business contacts.
  • Maintain an up-to-date profile on all sites you’ve joined.  Include specific details about your business so your profile will pop up when other users are searching for your services and experience.
  • Respond when you are contacted by other users regardless of how they contact you.  Building your network does not necessarily mean making a sale from every contact.  Friendly, quick responses will build a good reputation whether you are responding via a message board or directly with email.

My social, business and informational networks replace the Rolodex of years past.  The technical platforms I subscribe to give me immediate access to a broad audience, a means to communicate efficiently, and a constant connection with my business network.

What’s next?

Continue the discussion. How have you built your social media network? Please share your thoughts in the Comments section.

Get more information. Check out more of The Marketing Advantage blog and visit the rest of the Advantage Marketing website to learn about the marketing communications and social media services we offer.

Posted in Networking, Social media marketing | Tagged: , , , , | Leave a Comment »

Clear and Simple Elevator Speeches Hook Prospects

Posted by advantagemarketing on September 17, 2010

by Loraine Kasprzak, MBA, CMC

Your stomach is clenched in fear, and you’ve broken out in a cold sweat. Are you sitting in the dentist’s chair, awaiting a root canal? No, you’re about to give your elevator speech and haven’t a clue what to say.

Keep your elevator speech short

Your elevator speech shouldn't last the whole ride. Keep it short and to the point.

Any time you’re at a networking event, conference or business seminar, you need to have a clear and simple answer to the question, “So what do you do?”  This is often called your elevator speech, based on the idea that if you enter an elevator and another passenger asks what you do, you have a limited time to tell them before they get off at their floor.

Many people don’t give this type of communication the thought it deserves.  They begin rambling about the products and services their company offers, never really noticing that their audience’s eyes are glazing over at what sounds like another canned sales pitch.

An effective elevator pitch tells what you do, establishes your credibility and professionalism, but, most importantly, it tells what problems you solve for your clients. And it does not get long winded.

Here’s an example of a clear and simple elevator speech:  “My name is Jane Smith and I own ABC Gifts. We work with corporate clients who need unique, customized gifts delivered within 24 hours of placing an order.”

Using such a short speech makes it easy for Jane’s audience to stay focused. It clearly states the solutions or benefits ABC Gifts provides, and for whom. You can bet that if there were corporate administrative assistants in the audience who needed gifts for their VPs’ picky clients, and needed them fast, they would ask Jane for her card.

Here are some other ideas for using an elevator speech effectively:

Practice beforehand. You want to come across smoothly, like you really know your stuff, so write down your elevator speech before your next business event, and practice it in front of a mirror. I’ve seen people at events using a note card to remind them to use key phrases, but I think it looks better if you are already comfortable with what you are saying.

Be prepared with follow-up. If you have created an effective elevator speech, then you need to be prepared to respond to, “Oh really? Tell me more.” Be prepared with a few follow-up sentences to share with the prospect that are proof of the benefits you’ve stated.  In Jane’s case, she might briefly talk about the last client she worked for, and how she was able to get the gifts they needed quickly.

Plan to reel in the fish. Think about what you want that prospect to do after you chat and exchange business cards. Do you want to them to visit your website? Agree to a follow-up phone call so you can learn more about their needs? If the prospect is interested, make sure you get to the next step before you part.

What are some of the best and worst elevator speeches you’ve heard? Tell us in the Comments section, below.

Ms. Kasprzak, Managing Director and Founder of Advantage Marketing & Associates, is a Certified Management Consultant.  Loraine can be reached at LKasprzak@advantage-marketing.com. Follow her on Twitter.

Photo attribution: Cambodia4kidsorg on Flickr.com

Posted in Business, Marketing, Networking, Traditional marketing | Tagged: , , , | 1 Comment »

 
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