Leading the Way to Recovery and Tips for Making the Most of Your Tradeshow

I lead conversations on small business growth and competitiveness as the Chair of the Council for Small Business at the Greater Seattle Chamber of Commerce. On 4/13/2010, Carl Gipson, Small Business Director at the Washington Policy Center, joined me to lead a discussion on recently passed Washington State legislation and its impact on the small business community's ability to lead our economic resurgence. He also shared a copy of the WPC's report, Lead the Way: Small Business & the Road to Recovery. Thank you to all of the attendees who provided feedback and insights on navigating our changing economy!

During the second portion of the program (time stamp 1:14:00), I shared with our viewers some marketing tips for making the most of trade shows. This is in preparation for the upcoming Chamber Annual Tradeshow, the premier Puget Sound venue for showcasing your business and networking with more than 1,500 attendees. If you are a Seattle Chamber member and have not yet registered to exhibit, hurry up! Booths are selling out (they have a few left as of today).

New poll on LinkedIn: Your Perception on Blogs as Web Site

If you have 2 minutes, check out our poll on LinkedIn: Does the use of WordPress or Blogger affect your perception of a company?

I have heard a number of comments about people's perceptions of companies who are obviously using a blog technology like Blogger or WordPress for their web site. We would appreciate your gut reaction and comments!

Beyond Blogs: Creating and Managing Social Networks and What it Means for Your Web Site

Okay, I have to admit that for the longest time, I was confused. I knew that all software runs on a database. Some just have more functionality than others. I also fully understood that you could create a web site using blog platforms like WordPress. But I didn't really see the potential until I participated in Friday's Social Networking for Business Conference, developed by Joe Kennedy and his partners.

They showed us how Expression Engine, a sophisticated content management system (CMS), allows you to manage all of your web site content, articles, blog posts, and other communications through a single tool. Just like traditional software, CMS systems need a database to store information. The web page "templates" determine how that information gets communicated to the world. In old-school terms, those web page templates were part of the User Interface (UI).

So, software applications like Word or PageMaker were really fancy databases that are installed on your computer to get work done*. Social networks are really fancy databases that are hosted on a web server to start conversations. The buttons and tools that you see when you access these databases is called the UI.

What makes social media so different is that now more UI systems can access the same database to deliver content in multiple ways. You can set up your own database on your server (with Expression Engine or another CMS) or you can use a database on an existing server (like WordPress or Facebook). That's how this blog post at www.Blogger.com gets sent to my mailing list using Mail Chimp. It also gets linked to my Facebook and LinkedIn pages. I can also have the same blog post in hundreds of different ways, including embedding it into my web site, and adding "feeds" to partner sites. And it all happens as soon as push the "publish" button in Blogger.

If your company is already using a CMS like Joomla or our own CMS Builder, you might already have all the tools you need to set up a complete online presence that integrates social networking, social media, blogging, and a traditional "web site." If you don't have a CMS, you will have to change the structure of your web site in order to keep up with search engine, social network, and other emerging technologies.

Of course, I'm a business strategist and want you to approach your social media strategy with purpose. I recommend reading this article to get you started. No matter how large or small your organization, social networking and media is here to stay. If you get your tools in order to be scalable, you'll be light years ahead of the competition, both online and offline.

Need help upgrading your web site and other marketing and communications tools? Give me a call at 206-782-4040.

*Software has traditionally been hosted on your computer. Not so much so thanks to cloud computing. I'll have more on that soon.

Strategy is not just for big businesses

In a recent presentation of Dollars + Sense, a participant commented that setting strategy and key performance indicators (KPIs) was for large businesses. According to the participant, small mom and pop shops are too small to worry about effective business analysis. Not true, I say. The smaller your business is, the more critical your need for good measurements and an effective strategy. Unlike larger organizations, you don't have much wiggle room to make repeated mistakes. KPIs and a solid strategy will help keep you on track and quickly reveal when things are taking a turn for the worst. Regardless of tour size, you need solid measurements and a well defined strategy. That's how the larger organizations get and stay big.

Keeping It Simple

My sister has a foster child who is in his mid teens. They have worked out an allowance system: he has a set allowance, yet certain chores have to be completed in order for him to receive his full allowance. For each chore that is not completed, a portion of the allowance is deducted. My sister and her husband aren't forcing him to do his chores: the hope is that he will be self directed to do what he is supposed to do in order to get his full allowance.

To date, the child has never received his full allowance. Some weeks, he doesn't receive any allowance. He does just enough to get what he wants at the time and lets the remaining funds go untapped. He doesn't yet see the value in doing the extra work needed to acquire the additional funds.

It might sound odd, but small businesses are like that, too. If they don't see the full value in responding to your call to action, signing up for your trial offer, or participating in your survey, they won't. If the process is too complex and the payoff too little, participation will be low. To motivate small businesses to participate in your offering, the offer must be short, clear, compelling, easy, and possess clear payoffs. Otherwise, they could be leaving valuable information and resources on the table -- and never truly realize the full benefits of what you have to offer.

Growth-focused Events for Small Businesses

This morning, James Dimon, Chairman and CEO of J.P. Morgan Chase, presented at the US Chamber of Commerce, providing the nation with an optimistic, yet realistic state of our economy. Overall, there are opportunities for growth for all businesses. If you're a small business or nonprofit organization, I have a few upcoming events in the next few weeks that can help you leverage your strengths and take advantage of market opportunities:

1. I will be the luncheon keynote presenter at the 2009 Women in Business Conference at the Bellevue Hilton on March 12th. The topic, Wrangling New Profits from Existing Assets, will be an interactive and timely conversationfor growing small business clients. For more information, check out www.bellevuechamber.org.
2. Next week, two opportunities to catch the FREE webinar Dollars + Sense: Business Strategies for Marketing that Sells will be available on March 18th and March 19th. You won't even need to leave your office to participate. The option to call in is also available for phone-only participation. Visit www.tsuluwerks.com/events for more details and to register.
3. On March 19, I will be at the Bellevue Entrepreneur Center, presenting Dollars and Sense: Business Strategies for Marketing that Sells as part of their brown bag luncheon series. For more information and to register, contact Kim Fredericks at 425.213.1211 or visit www.bellevuechamber.org.
4. March 23rd marks the Crave SHOP Symposium/09 in Seattle. The organizers are extending a special for my network, since I will be participating in a panel presentation entitled Marketing Masters: Offline, Online, and Viral Strategies that Work. To receive 50% off your registration, select this link.

Other event topics will be presented in April, including Shameless Self Promotion for New Businesses. I hope that you can join us for one or more of these events!

Opportunities with Large Accounts are still available

Even though many organizations are tightening their belts, others are moving forward with previously budgeted projects and with new opportunities, thanks to the new Recovery/Stimulus funding recently approved by congress. What can you do to capitalize on these opportunities? Get ready to do business with large organizations by joining us for the webinar The Real Truth About Landing Large Accounts. We are still taking registrations for our March 4th and March 5th presentations.

Choose Your Own Adventure and Wrangle New Profits

If you grew up in the 80's and 90's, you might recall the book series, Choose Your Own Adventure. These interactive, engaging novels allowed young readers to make choices at critical points in the story line and change the outcome of the story. The series was re-released in 2005 for a new generation of young readers.

We are enduring a tough recession. Like a Choose Your Own Adventure novel, each company is being presented with a break in the story line where critical choices can be made. If sales and cash flow are down for your organization, I invite you to make different choices to change your company's outcome and respond to this jarring adventure of an economic downturn.

What kinds of choices can you make to choose your own adventure? One of the topics that we discussed in last Friday's AAPP meeting was Wrangling New Profits from Existing Assets. In the presentation, I shared the five golden nuggets that companies can make to initiate strategic changes and create new income streams:

1. Outsource your secret sauce. Another company, like a competitor, customer, or industry leaders, might be willing to pay you a substantial fee to use your processes or technology. It cuts down on overhead for you, and brings in a regular income stream when done right.
2. Find new uses for your product or service. How many of us remember ads in the 70's and 80's reminding folks to take aspirin every day to prevent heart attacks? The surge in aspirin use is a result of recent medical research that has been a windfall for aspirin manufacturers -- they now have a new sales channel for their product. Can you do the same with yours?
3. Enter a new market. If you have a highly specialized or niche product or service, can it be relevant to another market or industry? For example, can your automobile accessories be introduced into the growing car industry in China? Or can your technology-industry human resources company offer services to benefit the health care industry?
4. Develop new products with minimal re-tooling. For manufacturers, staying relevant can mean the difference between survival and descent. What updates can you make to your manufacturing line to serve new market needs? If the marketplace is spending more money on signage and less on memorials, what can your company do to re-tool its bronze and granite products to offer more sign options?
5. Repackage existing intellectual property. If you're a service-based business or have patents and copyrights on juicy content, you can repurpose that content to deliver it in new ways. This is how Oprah has built her empire. She delivers the same interview with Tina Fey on her television show, in her magazine, on her web site, and on her radio show. One interview, four different channels with different advertising dollars. You do the math.

Some or all of these golden nuggets might be relevant to you and your ventures. Whatever you choose to do to wrangle new profits from your existing assets, remember to ask your stakeholders for input.

If you are interested in scheduling a Profit Wrangler workshop for your organization, contact me at 206-782-4040 ext. 4.

Three keys to thriving in tough times

We've kicked off the new year with a couple of changes at TsuluWerks. We're noticing that three key factors are helping companies thrive during this economic depression [yes, I said it!]:

1. Fabulous customer service. Just being nice and helping people solve problems is paying off.
2. Consistent sales & marketing. Keeping in front of customers is critical -- otherwise, they think that you've closed your doors like so many other businesses lately.
3. Solid strategies. Moving through troubled times in a deliberate way keeps you on track and in the black.

To help you leverage these three key factors for thriving in tough times, we have made some changes:

• Our events are now available as webinars! No matter where you are, you can participate in a TsuluWerks event. We kick off February with two chances to sharpen your strategy with The Strategy String: Connecting Your Marketing to Real Results. Join us for this FREE webinar on either February 11th or February 12th (to learn more, click on one of the dates).
• Our capabilities list has been replaced with solutions. Instead of focusing on what we offer, we've listened to what you need and put together a menu of common solutions to the challenges that our small business, nonprofit, and enterprise clients are facing. Our newest solution, ConsulCoaching™, helps small businesses stay focused on what's important and leverage the most important skills and assets that they already have. Find the right solution for keeping your organization afloat.

If you're need help with one of the three keys or would like to inquire about our solutions, please give me a call. I appreciate your comments. I want to hear from you if you're thriving, too. Our business community could gain confidence from your success story and help everyone get back on the path to profitability.

Seattle Chamber Testimonial

I'm an active member of the Seattle Chamber. Here's why:

Filling the Funnel: Negotiating the Close

Part Six of Seven on the Complex Sales Process
by Tracy A. Corley

Over the past year, we've been exploring the seven phases of the sales funnel. In this issue, we focus on the close. Salespeople often focus on getting buyer to say Yes to the proposal that is put in front of them. And much too often, they hear "no" instead. Asking for the close isn't like "making a kill" -- It is much more than an unconditional acceptance of terms. For both you and the buyer, everything is negotiable. If you're getting hesitation or hearing "no", asking for the close will most often require some level of negotiation. How can you ensure a mutual win-win for both you and your client the next time you ask for the close?

The Four S's of Marketing in a Web 2.0 World

What does Web 2.0 mean for marketing small businesses today? This was my topic in a recent panel discussion at the Partnering Works Business Conference on September 26th. I summarized the following points to help companies look at the big picture, which I call the 4 S's:

1. Strategy. Strategy is the lifeblood of a strong business. With Web 2.0, the marketing opportunities seem endless. A solid strategy will allow you to focus on what's most important to fulfilling your mission, vision, and values. By focusing on your marketing strategy, you can choose tools and tactics that go beyond the trends and bring real value for your business.
2. Segmentation. In traditional marketing, many small companies focused on two to three market segments. With Web 1.0, personalization became important when reaching out to those segments. Web 2.0 is more robust, which means a bit more work for small business owners. Now, we have at lest dozens of market segments to track, requiring detailed audience profiles. On the upside, the work pays off when your audience feels connected to your online presence.
3. Substance. Your web site can no longer be a repeat of printed brochure. Now that you have dozens of audiences to reach, there should be segments of content on your site that speaks to all of them. Break the micro-segments into major audience categories, then craft your site content to focus on real solutions, reflect how those customers buy, and reflect your voice and principles.
4. Social Outreach. Online marketing is no longer a one-way dialogue where the company controls the message. Marketing is now a conversation controlled by the customer. Being transparent and "wearing your heart on your sleeve" helps you connect with your customers. As a result, the former "trend" of social responsibility is an expected norm. Companies are expected to be active in their local and/or global communities. Sustainability is expected to be a baseline standard for operating your business. Outreach and open communication is much easier thanks to Web 2.0.

Underlying the Four S's is the relationship. Marketing is all about the relationship. If you focus on the relationship, you can leverage the Web 2.0 tools that make the most sense for your customers and your business. Don't get caught up in the flash and glam of all the options of Web 2.0. Keep true to your strategy, (micro-)segment your audience, provide real substance, and commit to social outreach. When Web 3.0 rolls around (some say it's already here), you'll be ready to make a smooth transition to deeper marketing relationships.

Small Business Concerns in a Web 2.0 World

Today I participated in a panel discussion at the Partnering Works Business Conference on how Web 2.0 is changing how small businesses operate and market. The conversation was rich and included Eric Weaver (Vice President of Edelman Digital), Rachel Derlatka (Partner at Alliance Network Services), and moderator Greg Lins (President & Founder of TLG Innovation). We discussed what Web 2.0 really means, how it impacts marketing, and what the future looks like for global enterprise. I think that the discussion can be best summarized as:

• Web 2.0 changed the Internet from a one-way push of information to site visitors to an interconnected two-way push/pull of communication between companies and site visitors.
• Businesses should stop thinking about a web site and start thinking about their social web. The social web includes a web site, social networking sites, blogs, and other digital communications tools. It's not enough to have a spot on the web. The strength of your online presence depends upon the size of your personal and professional networks.
• Privacy is almost dead. Don't post anything on the web -- personal or professional -- that you wouldn't say or do sober at a cocktail party. With privacy so highly at risk, online communicators must be diligent about protecting their personal information, but be completely open with all communications. If you lie or attempt to be deceitful or restrained, it's almost certain that someone will find out. Deception and half-truths can quickly discredit you and your business.
• The boundaries between personal and professional are blurring, thanks to upcoming Millennials and Gen X'ers. Though it might not seem relevant now, including personal bits about yourself in your online presences will help people connect with you.
• It's difficult to determine the intent of someone sitting behind a computer. Revelation and transparency can help you build your networks much faster and create open communication with your online community members.
• The consumer is in complete control. Remember that anyone can build a blog or connect via their social network and spread information about your company more quickly than you can put out a press release. Top it off, marketing is the least-trusted channel of information according to Edelman's consumer trust report (contact Eric for more about this). People won't trust your press releases, but they will trust the opinions of their peers.
• Web 2.0 reinforces the importance of relationships. The web should be a communications tool, not a veil of canned statements to hide behind. The conversation you have online should match the tone and substance of the conversations you have face-to-face.
• Social networks will not replace in-person communications. It just makes person-to-person engagements more effective and more personal, particularly if you have an established online relationship.
• The speed at which new technology and tools roll out will only accelerate over the years. Keep an eye out for Web 3.0 in the near future.

I will post either a video or a podcast as soon as the digital content is ready. I will also publish a written version of my presentation, The Four S's of Marketing in a Web 2.0 World, in the next few weeks.

Filling the Funnel: Writing Proposals that Tell AND Sell

Part Five of Seven on the Complex Sales Process by Tracy A. Corley We've been taking a look at how to build awareness, turn suspects into prospects, qualify leads, and assess needs. If you're making a good impression on your prospect, at some point the client is going to say, "Great! What can you do for me, and what will it cost?" That's the time to start writing the proposal. Some of you already have formulas for writing a proposal. It may consist of elements as simple as providing line items with quantities and costs. If you have a complex sale (i.e. a sale that requires building a relationship and typically takes more than three months to close), writing a good proposal can be time consuming. How can you quickly develop a proposal that stands out and the sale closes faster?

What is Strategy?

In a recent presentation entitled Dollars and Sense: Business Strategies for Marketing that Sells, a participant asked what the difference was between a Vision and a Strategy. At the time, I have to admit, I didn't have a clear answer. I used my curiosity to look up what others had to say.

Some expert sources, like the Harvard Business Review and the Ivey Business Journal, have slightly different definitions of what a corporate strategy is. However, after reviewing a number of business strategy sites, I realize that strategy is the "umbrella" that captures all the pieces of why a business exists and the direction in which it is heading.