The 6 biggest pitch deck mistakes you may not know you’re making

Posted on March 14, 2016 by Laura Lee Rose

The 6 biggest pitch deck mistakes you may not know you’re making

Today we are very fortunate to have a TV program to emulate regarding the perfect pitch deck. If you haven’t already watched ABC’s the Shark Tank, make the time to watch and take notes.

It gives you a very good illustration of pitching to investors. Even though the ABC’s reality show “Shark Tank” is available for all to learn from, I am always surprised when an entrepreneur shows up unprepared.

If you are interested, I have a list of the most frequently asked Shark Tank questions in a separate article Things we can learn from Shark Tank

For now, below is a list of 6 big pitch deck mistakes that you may be making:

Not knowing your audience
Not getting to the important stuff quickly
Not including a summary
Not knowing your numbers
Not incorporating the investor’s terminology or experience
Having one pitch deck for everyone

We will cover each mistake separately.

1. Not knowing your audience

Many entrepreneurs are so focused on their own product, their own needs, and their own wants – that they forget the true goal of this presentation. Your goal is to adequately interest the investors such that they will want to do business with you.

People do business with people they know, like and trust. And the quickest way to earn trust is to show the investors that you already know them, what their needs and wants are, and how your product or service can help them reach their goals.

In other words, why should they care about you and your products or services?

Use Stephen Covey’s 5 Habit from his top-selling 7 Habits of Highly Effective People: “Seek first to understand, and then be understood”

Spend time researching your investors. Find out what excites them. Find out how they make their investment money back.

2. Not getting to the important stuff quickly

Your prepared pitch should be no longer than 5-8 minute in length. So you really need to get your investor’s attention quickly. If they are interested, they will ask additional questions and will get to know you better. Your pitch needs to interest them quickly.

Once you have a better understanding of your audience, make sure you get to the important stuff as quickly and succinctly as possible. What is the “important stuff”? The important stuff is the stuff that the investors care about (and not necessarily what you care about).

This is where watching the Shark Tank will help. Here are some of the typical questions you need to cover, and a fuller list is available at: Things we can learn from Shark Tank

What problem are you solving?
How prevalent is this problem? (size of the market)
What you need financially to make that much money?
Who are you competing against?
How are you going to grow? How are you going to use their money?

3. Not including a summary

A pitch presentation falls into the category of a training presentation: “Tell them what you are going to tell them; tell them; tell them what you have told them”. But many forget the summary or “tell them what you have told them” part. Your summary should end with a CALL TO ACTION.

4. Not knowing your numbers

Investors are interested in a quick return on their investment; therefore, make sure you understand your numbers. And just knowing the dollar figure isn’t enough. You need to be able to articulate where these numbers are coming from, on what platform, are they driven by promotions, and what sort of partners are you working with? Is the marketing working? What does it cost to produce? What are your expenses?

Know your sales information inside and out.

5. Not incorporating the investor’s terminology or experience

You won’t have much time; therefore, make the best use of that time. Incorporating the investor’s terminology and experience into your pitch will not only eliminate miscommunication but lead them to feel that you already speak the same language. That you are connected.

6. One pitch deck for everyone

Don’t fall into the trap of creating 1-perfect-pitch-deck. Consider having a “perfect-pitch-deck template”. By understanding your audience, their terminology, and their unique interest in your products or services, you can tweak and quickly customize your single-perfect-pitch-deck template to win-over each unique investor.

Added Bonus

Now that we’ve discussed mistakes to avoid, below is a quick list of things to think about when preparing your “pitch”.

Things to think about when preparing your “pitch.”

What your business makes or does?
What market you serve?
How will this business make money?
How your business compares to similar businesses?
Why you will succeed?
Your ultimate goals for your business?

Conclusion

At the end of the day, there are various Do’s and Don’ts to keep in mind. The best recommendation is to run your pitch deck past a “mock Shark Tank”. One such “mock Shark Tank” panel are the experts at Crowdsourcia. You can’t go wrong with this set of experts.

Can one person handle all the content marketing when starting your business?

Posted on February 1, 2016 by Laura Lee Rose

Hello, this is Laura Lee Rose – author of TimePeace: Making peace with time – and I am a business and efficiency coach that specializes in time management, project management and work-life balance strategies. I help busy professionals and entrepreneurs create effective systems so that they can comfortably delegate to others, be more profitable and have time to enjoy life even if they don’t have time to learn new technology or train their staff. I have a knack for taking big ideas and converting them into smart, sound, and actionable ideas.

At the end of the day, I transform the way you run your business into a business you love to run.

Today’s comment came from a busy professional and an entrepreneur:

Can one person handle all the content marketing when starting your business?

Coming up with new ideas and writing about them takes a lot of time and effort. I feel like I have more important things I can be doing when just starting my business. I’ve thought about outsourcing some of the work but then the voice of the content doesn’t match up. How does one person handle everything if possible?

I think the mistake that you might be making is to think of “writing content” as a solo and isolated activity. You see it as something separate from your business that you do over and over again. Instead of thinking that “writing content” is something extra that you need to do, productize it. You need to incorporate it into your business product line.

Increase the lifespan of all your activities.

Whether you are an entrepreneur creating your own business or a corporate staff member supporting your department’s goals – the recommendation is the same. For every task or activities find a way to increase the value and lifespan of that item. By increasing the lifespan of your results, you increase its value, reduce your time, and better promote yourself.

Focus on business focused experience
Stay focused on topics and materials that are business focused. Make sure your content supports your brand and company vision. This way you are not confusing your readers on what your company can do for them. You are not distracting or misdirecting them away from your company purpose.

Once you have their attention, lead them to your other products and services that will better help them on their goals.

Use multiple sources for content

For example: I get the ideas for my material from questions people ask me throughout the month. Many of my articles come from the questions that a Recruiter.com website sends me; some are sent to me from a “Help A Reporter” website; some come from my clients, etc. Because these topics and questions come from relevant sources to my business, I am assured that they are relevant topics to my clients and potential clients. In my business, there is no limit to the topics and content if I just keep an eye out.

I also go out of my way to interview other experts in different fields. I then use these interviews as additional content, as well as a network tool. I interview their business for my BlogTalkRadio show. This way I get to know them and they get to advertise what they do, their products and their business on the radio show. I send them the audio of the interview, so they can publish it on their websites, social media and newsletters.

Reuse your materials

Continually upgrade and re-bundle your materials.

For example: I reuse the various materials, videos, and audios for my blogs, newsletters, social media, and weekly interviews.

I am a Business Systems and Solutions consultant. I help busy entrepreneurs create effective systems so that they can comfortably delegate to others, be more profitable and have the time to do spend on the things they want to do.
As such, I am interviewed weekly by a client company. We meet monthly and tape 4 interviews which they air on a weekly basis to their clients. I take those interviews and create articles (which I am paid for). Then I take that material and modify/split them up for my newsletters and social media postings. I do the same thing with the business interview content.

Then I take those topics and create my monthly training webinars for other clients.
I then combine those webinars, articles and worksheets into a training package or DVD.
I also used this same content to write the book “TimePeace: Making Peace With Time”.

Create your Product Funnel

To make this easier – – Start with a product funnel strategy – such that your “content” is incorporated into the next product bundle. If you plan ahead to see where the content will take you, you will get much more out of your “writing content” than you previously imagined. Your content will play a bigger part in your revenue stream.

You can do this whether you have you own business or work for someone else. Figure out a way to increase the value of your current activities – such that it creates revenue for the company.

Conclusion

Change your mindset from merely “creating content” to “how do I use this to increase revenue or attract clients”. If you plan ahead to see where your activities will take you, you will get much more out of your time and attention than you previously imagined.
If you need additional ideas, don’t hesitate to reach out to me.

If you need additional help on this topic, please contact LauraRose@RoseCoaching.info

I am a business coach and this is what I do professionally. It’s easy to sign up for a complementary one-on-one coaching call, just use this link https://www.timetrade.com/book/WFSFQ

Is it better to terminate or reassign an employee?

Posted on January 9, 2016 by Laura Lee Rose

At the end of the day, I transform the way you run your business into a business you love to run.

Today’s comment came from a busy professional and an entrepreneur:

Is it better to terminate or reassign an employee that is not working out?

I have spent a lot of time training an employee. She is a great person, but I have to remind her several times to do something. I am not sure if she is just not in the right role or if she will always need too much oversight. I am curious how others have handled something like this.

You are not alone. Many new business owners struggle with this same question.

One thing to keep in mind (at all times) is that you are in the business to make money. You essentially hire staff to help you achieve your business goals.

You are not responsible for your employees’ happiness or success in their roles and responsibilities. You can encourage, support and train them – but you are not ultimately responsible for their success. They are.

Your Responsibilities:

What you are responsible is to provide clear goals and directives. You accomplish this by several methods:

Visible Mission, Vision and Purpose goals
1. Do you have a company mission, vision purpose statements?
2. Are they strategically visible where all your employees can see them?
Regular and frequent one-on-one meetings with your employees
1. Are you conducting frequent one-on-one meetings with your employees?
2. Have you validated that they not only understand the company mission but how it translate to their individual roles and responsibilities
Clear directives
1. Do you have your business goals clearly documented in the form of SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals
2. Does each of your employees understand how their tasks and business goals support and accomplish those business goals?
3. Does each of your employees have a PBC (Personal Business Commitment) plan that documents their SMART goals to achieve the company goals?

Once you have clearly articulated and published your business goals and validated each employee’s roles and responsibilities in achieving those goals, you can start determining whether a specific employee is “right” for your company.

Have you provided proper training?

Before you hire staff, you need to verify that your training and orientation materials are in place. If you don’t want to be spending time reminding your employees about the tasks and procedures, make sure they are documented in such a way that they can easily reference.

Some examples are:

Provide Checklists and document your procedures
Conduct frequent status meetings to review their progress and checklist status
Institute the buddy system in which a more senior staff is buddies with a junior staff member.
Delegate team leaders such that they oversee team progress and staff reports
Automate the more tedious and error-prone items to reduce error and rework
Automate and optimize items that are done over and over again
Optimize the procedures to only items that are MUST DO to bring in revenue, reduce costs or increase client satisfaction
If you cannot associate a Business Reason (example: revenue generating reason) for the task, reconsider the need for that task

Once you have streamlined your processes and policies, you can be assured that you have provided your employees with the best possible road-map to success.

Is she right for the job?

Once you have done your homework regarding setting up SMART goals, it is easier to assess each employee’s fit. Since you have established your Success Criteria and how you are going to Measure against your Success Criteria, you can determine if your employees are meeting expectations.

Several things that might help further are:

Have you documented all the tasks and expectations in a Personal Business Commitment (PBC) document? In other words, have you outlined for each employee – how their role and responsibilities are achieving your business goals?
Have you documented their PBCs in the form of SMART goals (Specific, Measurable, Achievable, Relevant and Time-bound)?
Do your employees understand the consequences of not meeting those PBC metrics? (for instance: being placed on a Performance Improvement Plan, on probation or fired)?
Have your employees signed their PBCs, acknowledging that they understand their commitments and consequences of their performance.

Once you have clearly articulated the expectations for the position in this manner and streamlined the responsibly and procedures, more often than not – it is the employee that will decide if this position is right for them.

For example: A SMART goal would be:

If you have to remind her several times to do something – are those
“things” explicitly documented in a checklist? (Being very specific)
Do you have a way to measure or tell if she has accomplished those items, on time and with the quality that you have previously defined? Does she have to report on the status or update a tracking system? (Measurable)
Is it reasonable that someone in that position can accomplish that task in the defined time frame? (Achievable) Or would some automation and optimization reduce the error-prone nature of the task?
Can you describe the How and Why this task is relevant to bringing in revenue? (Relevant to your business goals)
And does this have a time limit. Does she need to do this task every day? once a week? When should it be accomplished? (Time-bound).

If she needs to improve upon her performance – what specific things does she need to accomplish in a certain amount of time. What are the consequences for not achieving those specific and measurable tasks within the deadline? (This is what is known as a documented PIP or Performance Improvement Plan)

Conclusion:

If you are “wishy-washy” on your expectations, it’s easy for your employees to give you “wishy-washy” results. Having your expectations and consequences well documented (and signed by your employee) will make the next steps of performance evaluation much easier.

If you need additional help on this topic, please contact LauraRose@RoseCoaching.info

Or sign up for a complementary one-on-one coaching call, just use this link https://www.timetrade.com/book/WFSFQ

How are you handling hundreds of emails a day?

Posted on December 21, 2015 by Laura Lee Rose

Today’s comment came from a busy professional and an entrepreneur:

How are you handling hundreds of emails a day?

As a business owner, I am constantly getting emails from either customers, employees, cc alerts, etc. If I am out of the office for part of the day or in meetings, I come back to dozens of emails that I spend the rest of the day responding too. Any tips for managing and keeping your inbox organized? I think one of my company’s value points is that we get back to our customers and partners almost right away.

There are a few things you can do:

1) Make use of the auto-responders to answer the frequently asked questions. Responding to your clients “right away” doesn’t always mean that you need to give them the final answer right away. Responding that you have received their request and will have a response before the day’s end – is also good. In the meantime, recommend that they review your FAQ for additional information. Your FAQs are published on your website and newsletters as well – to help eliminate those level of calls.

2) Use the your emailer’s Message Rules to automatically file the newsletters, status reports, employee’s questions and important-but-non-urgent mail into properly labeled folders (and out of inbox). Then schedule/block a separate time to review those folders. This leaves your inbox with the emails that you want to be responding to on a more immediate basis. Those folder-based emails can be reviewed at a later time.

3) Put in a Help-desk priority system such that all customer emails go to a different email address which are handled by a Level 1 support or help desk. If the help desk cannot answer those questions they respond to the client with an update; then the email is passed to the next Level of support.

4) Decide what your SLA (Service Level Agreement) will be. Should “free-mium” clients (clients that only participate in your free offers) get the same level of support that a premium client (someone truly supporting your products and company)? If not, limit the “free-mium” support to online FAQ and 2-day response times. Use the more immediate response times for the higher-paying clients. Give the higher-paying clients your “private email addresses” – and your “free-mium” clients your general “info level” email addresses. Have someone else handle the “info-level” client email. You handle the “high-profile” clients.

5) Short-daily meetings (15 minutes) with your employees to recap the day’s goals and status. Then have weekly one-on-one meetings with each individually. Setting these meetings in place will eliminate much of the employee’s email correspondence BECAUSE a) they know they will talk to you in person daily, b) you will have answered their questions in person.

Have someone document those meetings so you will have the minutes as reference. Have that person send out (or post on internal website) the minutes to everyone that was supposed to be at those meetings.

6) Ask yourself if you should actually be the one responding to this type of email. Just because you “can” doesn’t mean you “should” be answering that type of email. Setup of procedure to off-load some of the typical emails and requests that you receive. Delegate team leaders to handle various types of employee requests and emails. Hand-off employee administration issues to HR or your office admin person.

Anything that repeats can be managed – but it doesn’t mean that you have to be the one that actually answers it. Once you take the time to categorize and label the types of email that you are receiving, then you can create a systematic approach or process to start off-loading those tasks.

Conclusion:

If your “response time” to customers is your undeniable benefit and differential – make that a value-add service. All your customers and employees deserve a response. But not everyone needs the same level of service.

For help on how to process your email, please contact LauraRose@RoseCoaching.info

Or sign up for a complementary one-on-one coaching call, just use this link https://www.timetrade.com/book/WFSFQ

How can I structure our employee meetings to keep everyone on task?

Posted on December 16, 2015 by Laura Lee Rose

Today’s comment came from a busy professional and an entrepreneur:

How can I structure our employee meetings to keep everyone aware and on task of what we’re working towards?

Recently, there has been miscommunication between my team members and management on the best practices for our company and where our resources should be spent. I don’t want to waste any more time and am looking for innovative ways to get my employees focused. Please advise, thank you.

Change YOUR FOCUS FIRST

Communication can be both the problem and the solution to most team and management issues. Your attitude of “I don’t want to waste any more time” – may be part of the problem. Taking additional time properly communicating with your employees will save team and department time. But it may seem to you that it’s taking more of “your time”. My recommendation is to invest your time in communicating more often – to help your employees stay focused.

Quick tips

Here are some quick tips to turn the problem into the solution:

Do you have a published company vision, mission and purpose statement for the company? If not – please create one and make is visible to everyone.
Can everyone on your team paraphrase how their roles, responsibilities and tasks support that company vision, mission and purpose statement? If not – please have the managers have regular one-on-one meetings to both emphasize and creatively empower the team to accomplish the company’s goals.
Do you conduct regular one-on-one meetings with each individual? Don’t assume that a group staff meeting is enough. In this global and diverse work environment, many people may be working remotely or on different shifts. They may not have been at the meeting OR have misinterpreted the information.
Do you use effective Change Management procedures when you do add, modify or delete goals. This means you clearly identify the tasks that are removed or re-prioritized when a new task is added. Most of the time, employees are unfocused because management continue to give additional tasks without understanding the current tasks that the employees are working on. By instituting Change Management procedures – you review the level of effort for the requested change, the effects and consequences of the requested change to the other items AND all the significant stakeholders are aware of the changes and consequences.
Do you hold quick daily staff meetings (no longer than 15 minutes) to review the day’s goals, status and issues?
Do all your staff meetings have a Purpose/Goal, Agenda list (with time limit) that support that Purpose, and a Summary of the resulting action items and owners?
Are your meeting’s minutes properly visible on your internal website or via email – that clearly outlines your tasks and goals?

Conclusion:

Switch your goal from “I don’t want to waste any more time” – to “I want to better communicate with my employees” and you will accomplish both goals.

For help on leading a more effective staff meeting, please contact LauraRose@RoseCoaching.info

Or sign up for a complementary one-on-one coaching call, just use this link https://www.timetrade.com/book/WFSFQ

How can I show off my personality more through my work?

Posted on November 16, 2015 by Laura Lee Rose

Today’s comment came from a busy entrepreneur:

How can I show off my personality more through my work?

Whether you are a staff member in a corporate environment or a small business owner, you will need to make yourself visible to your employers, employees and potential customers. One thing that is unique to you is your personality. Therefore, that is one differential factor that everyone can make use of – but how? We will answer this question for both environments.

How can I show off my personality more through my work in the corporate environment?

In today’s global workplace, more and more of our employers and employees are working remotely. Given the fact that fewer of us are actually working physically side-by-side our co-workers and executives, it is critical to differentiate ourselves from our peers in a positive light. One thing that will continue to build a positive reputation is to take advantage of your unique personality, talents and strengths. You can make these things more visible by doing the following:

1)Add more of the personal touch. Pick up the phone instead of emailing or texting. A personal phone call or visit brings your personality to the forefront. Effective communication is conveyed by 7% words, 55% body language, and 38% tone. By limiting yourself to email and text (just words), you have eliminated 93% of your arsenal.

2) Be proactive in illustrating your strengths, talents and knowledge base. Speaking engagements are great ways to illustrate your personality, while demonstrating your experience, knowledge, and talent. You can also more easily interact and affect a larger audience of your peers, supervisors and clients. You can also get immediate feedback. Consider giving Lesson Learned presentations, Technical Tip Presentation, and Solution-based Proposals.

3) Promote other experts. Much like the MC of a television program or interview, the host of the regularly scheduled program is seen every week. Their intelligence and personality is regularly demonstrated while they intelligently and professionally interact with the expert. You can do this by hosting presentations and Brown Bag Lunch sessions on high-profile topics in your company’s interest by various experts. This releases your need to “be the expert on everything”, while at the same time providing your company with the much needed training on the next generation focus.

4) Think globally. Not everyone that you work and correspond with has met you in person. Add your professional photo to your email-signature; include your individual career mission and vision statement in your internal email correspondence. Check with your company’s policy regarding external email signatures. They may have a specific template that you need to follow. 5)Add video. Consider adding a video status report from time to time. This will add a face to your weekly status report, as well as your personality. A final recommendation is to think like the owner. What would the owner of the company like to see from you? How would he/she like you to be seen by the customer?

How can I show off my personality more through my work as an entrepreneur?

I am working on launching my own photography business on the side. I want my photos to be known for being fun and natural, and have my customers trust me to capture a great moment. How can I showcase all of this in my work? I know this will come with time as I build brand recognition, but where to start?

You can easily translate the above corporate 5 suggestions for the small business owner.
Some additional suggestions are:

1)Publish. Having a regular blog about your business area tips, your favorite type of clients, your lessons learned how and why you got into your business, etc. If you start a blog or even a video blog (video yourself talking about these things), is a natural way to bring your personality through your work.

2)Teach. Setup speaking engagement is a great way to show off your personality, your knowledge and your skill. Getting in front of your clients are good ways to elicit customer feedback. Make use of inviting or regularly interviewing guest speakers (see above suggestions in the corporate section).

3)Ask Questions. Ask for your client’s opinions and feedback. Personal interaction with your clients is the best way to show off your personality.

Conclusion:

Keep the end in mind. Whether you like it or not, you are on stage most of your professional day. Make the best use of that time.

For more information or help on this topic, please contact LauraRose@RoseCoaching.info

Or sign up for a complementary one-on-one coaching call, just use this link https://www.timetrade.com/book/WFSFQ

Should I focus on just one niche customer group initially?

Posted on November 9, 2015 by Laura Lee Rose

At the end of the day, I transform the way you run your business into a business you love to run.

Today’s comment came from a busy entrepreneur:

Should I focus on just one niche customer group initially?

I have been trying to get feedback from my ideal target audience but I am finding the group hard to reach. There is another target audience that could benefit from my service. I am not as passionate about that group but I think they may be easier to get feedback as I build out my business. Should I focus on both or only one?

I recommend that you focus on one target audience. But I also want to caution on your method of reaching those people. If your method of reaching “people” is ineffective or flawed – then it doesn’t matter how many target audience you go after. Maybe it’s not that the group is hard to reach. Maybe it’s the way you are going about it. If the ladder is true – then you will have the same difficulties with the second group.
My recommendation would be to study up on the most effective methods to reach your target market. Find other business owners that are successfully marketing to that same target – and find out how they are doing it. Start partnering with complimentary business that shares the same target audience. Business network with those who are already successful in marketing to your target audience. Learn from those that have achieved what you want to achieve.

Periodically re-evaluate your target niche

Be watchful on who is attracted to your products and services. There may be other groups interested in your products or services. For example, Chris owned a Curves Club for women. She wanted to have her club hours during the day (9am-1:30pm and 3:30pm-7:00pm). This makes it difficult for younger, working women use her club. She didn’t want to extend the hour, so she mostly marketed it toward retired women.

But if Chris takes a second look at her niche, she could expand it to include:

Mothers with school-age children
Women who owned their own business
Women who worked from home

Conclusion:

Keep the end in mind that your products and services will evolve. Therefore, your target clients will also evolve and change. Review your product funnel strategy to see if different product levels will attract different clients.

For more information or help on this topic, please contact LauraRose@RoseCoaching.info

Or sign up for a complementary one-on-one coaching call, just use this link https://www.timetrade.com/book/WFSFQ

With a business that is not quite working, is it better to start new or to pivot?

Posted on October 26, 2015 by Laura Lee Rose

Hello, this is Laura Lee Rose – author of TimePeace: Making peace with time – and I am a business and efficiency coach that specializes in time management, project management and work-life balance strategies. Steve Wynkoop and I talk a lot about designing and managing our professional careers on a weekly interview on SSWUG TV.

At the end of the day, I transform the way you run your business into a business you love to run.

Today’s comment came from a busy entrepreneur:

With a business that is not quite working, is it better to start new or to pivot?

If your business is not working well enough, should you change directions or start a new business? I have been reading up on pivoting your business in a new direction, but how is this different than just starting over? Is starting over with a new brand better? How do I figure out which option is better?

The phrase “working well enough” – is a very abstract and vague. I had a client that “felt” her business wasn’t growing “fast enough”. “Fast enough” and “working well enough” are not business owner terms.

When I asked her what her growth goals were, how many clients or products she needed to sell to accomplish her yearly income, or how many leads does she need to convert to sales to make those numbers – she admitted that she didn’t have those types of plans in place.

Know Your Numbers

My recommendation is to know your numbers:

How much money/income do you want to make yearly?
How much income do you want to make quarterly? ( A/4)
How many products/services do you need to sell to make your quarterly numbers? (B/Price of products)
What is your lead to sales ratio? (How many people do you need to talk to or network with to make one sale?)
How many people do you need to network with to sell the right number of products to make your quarterly goals? (D*C)

Once you understand the numbers you need to accomplish your goals, you can start tracking your progress and make the necessarily adjustments.

Pivoting doesn’t have to be a big thing

After you understand your numbers and have a better idea of where you are falling short, you can pivot or change directions in only the areas that need tweaking. You may find that your lead to sales ratio is 25 to 1 (meaning that you need to network with 25 people to sale 1 product or service). To meet your goals, you need to sale 5 products/services a month. This means that you need to get in front of 100 people monthly. Some things you may consider doing are:

You may decide to add monthly speaking engagements to your marketing strategy to increase the number of people you meet in a month
You may decide to increase the price of your products and services to lower the number of monthly sales needed
You may decide to improve your salesmanship to reduce your lead to sale ratio

Conclusion:

Without understanding where you want to be and where you are today, it’s going to be difficult to decide whether you need to start new, pivot or tweak. Knowing your numbers is the first step in deciding your next step.

For more information or help on this topic, please contact LauraRose@RoseCoaching.info

Or sign up for a complementary one-on-one coaching call, just use this link https://www.timetrade.com/book/WFSFQ

How can I grow my business with more services?

Posted on October 12, 2015 by Laura Lee Rose

At the end of the day, I transform the way you run your business into a business you love to run.

Today’s comment came from a busy entrepreneur:

How can I grow my business with more services?

My recommendation is to take the time to design your Product Funnel Strategy.

Product Funnel Strategy

Within each separate brand – you should have a product funnel strategy that leads your target client up your product/service pricing structure. Normally people start off with free samples – to allow the target client to get to know you (like a first date). You may offer a complimentary discovery diagnostic sessions, newsletters, articles, short audios/video for your services.

Then you create some low, mid, high end offers that align with your brand and message. For example, you can create group workshops, subscriptions based programs, one-on-one service programs, and then high-end product bundles with some affiliated partners.

The idea is to design your road-map of how to start attracting people down that funnel. People may be first attracted to you and your message via some free offers, blog articles, free how-to videos. Then you will want to introduce those people (already taking advantage of your free services) to your lower or mid-range products like a subscription based program, a group consulting/mastermind program, a group workshop series, etc. Then you use your mid-range products to lead some clients to the higher range programs (which can be bundling of several products and services together)
If you take the time to create and design your product funnel upfront, you can better market and up-sale your business.

How do find the time to create these products/services?

Keep the end in mind. Whenever you are working with a current client, find ways to productize that effort. Build these programs as you go along. Reuse and recycle your intellectual property.

Some examples:

When someone asks you a question – convert your answer to a blog, an audio, an article, a webinar, a video
When you are working one-on-one with a client – create a worksheet, workbook, template or checklist
When you create a webinar, convert it to an online course with your webinars videos, audios, worksheets, etc
Then start bundling these different products and programs together for the higher priced programs.

Conclusion:

Keep the end in mind. Reuse and recycle your intellectual property and keep it in line with your brand and message.

For more information or help on this topic, please contact LauraRose@RoseCoaching.info

Or sign up for a complementary one-on-one coaching call, just use this link https://www.timetrade.com/book/WFSFQ

Who to make friends with at work

Posted on October 5, 2015 by Laura Lee Rose

Hello, this is Laura Lee Rose. I am a speaker and author. I am an expert in time and project management.

Today’s comment came from a busy professional:

Who to make friends with at work

Who are the people who are important to your career? Who are the people who can help you be happy at work? Who are the ones who can help you or be someone you can rely on? We are looking for tips on how to identify these people as well as how to know what level of friendship you should have with your co-workers.

Best advice is to clearly know where you want to be, do and have. If you can clearly articulate your career goals and professional path – then it’s easy to understand “who to make friends with at work”. Statistics show that we typically hang-out with people in our same social-economical standing. If we want to advance, get promoted, make more money, be more affluent – we need to start meeting and networking with those people that have already achieved what we want to achieve. This means that we need to define our own career goals and take full ownership of our own professional growth. Once you have that clearly defined, you can start networking (making friends) with the right people at work (i.e. the people who can help you achieve your goals).

Have an INS

I have a workbook called the Individual Network System or INS. This workbook outlines the who, what, where, when and how of corporate and business networking. It helps you identify the right people to meet and how to keep you on their radar. If you would like a complimentary copy of that workbook, please setup an appointment.

The intent of creating a business networking is to build relationships with the right people that will help you find the positions and roles that you really want. If that is what you really want, then take the 20 minutes to chat about it with me.

Find a mentor

Consider finding mentors in various areas of your professional development:

1) How to better market yourself within your professions

2) Help you with promoting your ideas and innovations.

3) How to write and publish your articles, presentations, and white papers

4) How to present to the exec

5) How to get other managers from sibling departments recognize your value to your company (If your manager is the only person that knows your value – you are doing yourself a disservice).

I know your situation is different. Why don’t we schedule an appointment, where I get to know more about your unique situation? And then I will be happy to make recommendations on what your best steps are moving forward. To schedule an appointment, book it HERE.

With enough notice, it would be my honor to guest-speak at no cost to your group organization.

I have a presentation on “3 Keys to saying YES to everything but on your own terms”. To sign up for the complimentary course, go to www.lauraleerose.com/Say-Yes