Three Big Marketing Mistakes that Business Owners Make and How to Fix Them Before You Lose More Money

Starting with tactics and not prospects

If your prospects do not use Facebook then investing in Facebook is a waste of time and money. In order to get the best return on your marketing dollars, you need to know your target market so well that you know which marketing tactics will work best to reach them. So many business owners who are making strategic marketing decisions do not have a clear profile of who their ideal client is and how to best connect with them.

Selecting a tactic without a plan

Just because you have a great ideal client profile and have selected a marketing tactic to reach those prospects doesn’t mean your “campaign” will work without a well thought out plan. You need to think broader and deeper beyond the tactic if you want your marketing to provide you with the best return on your resources. Marketing providers don’t really help you beyond the tactic they sell.

Staying with a tactic without numbers

This is a real problem with most business owners. They have several tactics that they are using and they are getting enough business to keep them busy. The problem is that they really don’t know what is working and what is costing them money. Even if you ask your marketing provider to provide you some results, often the numbers that they provide do not translate into meaningful numbers that relate to your business.

Steps to fix these three mistakes

  1. Create an Ideal Client Profile

Clearly, define who your target market is and then further clarify who is your ideal client. This is not a simple process and has taken even professions some time to figure out.

  1. Create a plan that goes beyond tactics

A real plan for your marketing takes into account how you will build the relationship, how you actually close a sale and how you service your clients. Then you can return to the tactical side of marketing.

  1. Select the right marketing provider

When you have an “Ideal Client Profile” it should tell you how would be some of the best ways for you to connect with them. This will direct you to check out various tactics closely associated with your ideal client. Then you can start to narrow your actual tactical marketing providers.

  1. Determine your numbers

Before you finalize your choice of marketing tactics providers, make sure your provider can provide you with results information that works for you. Are the results you’re getting fit your plans and what you want to accomplish?  If it isn’t then you need to reassess your plan, tactics and marketing provider.

If you would like any help in planning or managing your marketing or to grow your business please call me at Crossroads Consultants, 980-241-0189 or email me, Stan@MyCrossroadsConsultants.com.

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Don’t Hold Your Business Back

Your business can only grow to the extent that you grow.

Jerry Rice once said, “The enemy of the Best is the good!” Decide what you need to learn first, and then put everything else second.

  1. What do you need to learn? Take a step back and ask yourself, what skills or knowledge do I need to have to grow into my future? Remember while your specialty or expertise may need to be cutting edge, there are other areas of your life and business that may be required for your development. It is critical to know what areas to set as the priority.
  2. Find the best sources for acquiring that skill or knowledge? There are so many places you can go to for information. But a lot of them are not worth the time and some are just wrong and have bad advice. Ask others that you trust, who they follow, read and listen to or what sources they use to learn from.
  3. Schedule time to learn. You must learn in order to grow. Schedule it! Your future may depend on it.

Be proactive and LEARN!

At the Crossroads,

Stan Broesder

Is Your Business Losing Money And You Don’t Even Know It?

Just like people who are sick with a terminal disease and don’t even know it, so also business can be running backwards and not know it. Usually this scenario is blamed on the market, new competition, and poor capitalization of the business and a whole host of other reasons. But the reality is someone is not paying attention to some very important details.

Three losses that you may not even realize your business is experiencing:

  1. If your business is not adjusting the price for different circumstances, you could be losing money. Too many times a sale is discounted when it doesn’t need to be in order to make a sale, it’s just easier for the sales person. Also when an order is expedited, or special orders are agreed to without considering the cost of those changes. The sale itself can cause a business to lose money because those who are agreeing to the sale don’t know or care about the real costs.

 

  1. Some companies are losing money on future sales because of poor quality products or service. As an example, how many restaurants have served you poor quality food or delivered terrible service and you have not been back. This cost doesn’t really show up on the spreadsheets but the cost is real. Instead, many businesses blame the economy or something else.

 

  1. Every business has the same problem of limited resources. It is the nature of business and life. The difference between successful businesses and unsuccessful businesses is how they allocate those resources. The better decisions you make the better the return on that investment. When you pay more for capital than you should, or hire people who are not engaged in your business, or go for a cheaper vendor and therefore quality suffers, you could be making some very costly choices.

 

The point is that there are many ways to lose money and eventually the business that don’t fit on a nice profit and loss statement. You must be looking beyond what is visible to be able to make better decisions. At times getting different perspectives on your business from outside sources is like using a second mirror to see the back of your head like at a barber shop.

Don’t allow an ailing business go very long without a serious check up from a specialist in business, not just someone who specializes in finance, marketing, accounting or one of the other disciplines of business. There are not many who are truly business specialists. Just because someone ran one business well, doesn’t mean they understand the principles of business that are impacting your business.

Stan Broesder, MBA is the owner of Crossroads Consultants and specializes in helping business professionals to improve the skills, strategies and systems needed to increase profitability, reduce stress and grow a business. For information on creating a smooth running, high performance, profitable and growing business email Stan directly at: Stan@MyCrossroadsConsultants.com

Problems Don’t Live in Isolation

Most businesses seem to constantly battle against four basic challenges. These challenges are:

  1. Money – the lack of sufficient capital, or cash flow
  2. Marketing – the lack of enough prospects or clients
  3. People – the lack of engaged workers with initiative
  4. Performance — the lack of quality production or capacity

Only one of these actually deals with what the business owner is the expert in, performance. The others can be handled by bankers or accountants, marketing specialists, or HR specialists. These providers, who are experts in their specific field, do not usually see through the lens of the other specialties.

A serious issue with many “providers” is that they see situations or challenges within their own sphere or discipline and not how their challenge is related to or affected by the other challenges. If a money problem exists it could be because of poor quality production or performance from disgruntled employees. Cash flow may seem to be the problem, but it may only be a symptom of a much deeper problem.

So if you believe you are suffering from one challenge, you need to consider how the other challenges may be making the problem worse. Taking a holistic approach is better than just targeting one part of the whole problem. Without addressing the supporting problems to the ONE problem you increase the chance that your solution will not really solve the problem in the future.

Systems’ thinking allows you to look at these four challenges holistically. You must always ask yourself what is the cause and effect of decisions and actions made over time and space. An action or decision that was made six months ago may be having an effect on your outcomes today. It is also possible that a decision or action that was taken at a different location from the current problem may be causing or contributing to the effect that you are now seeing.

There is a process for determining the cause of current problems or challenges that is perfect for small businesses. Essentially it keeps asking the “Why?” question. Start with the current problem and start asking why this is occurring. Always brainstorm as many answers each time as possible. Then with each answer, ask “why is this happening?” Facilitating this process does take some skill, but definitely patience.  Seek to find causes and don’t just look at symptoms.

Stan Broesder, MBA is the owner of Crossroads Consultants and specializes in helping business professionals to improve the skills, strategies and systems needed to increase profitability, reduce stress and grow a business. For information on creating a smooth running, high performance, profitable and growing business email Stan directly at: Stan@MyCrossroadsConsultants.com

 

Why Planning Won’t Work!

Planning is one part of the management puzzle but it requires another piece of the puzzle. You can have the perfect plan or blueprint, but if you can’t organize the resources to accomplish the plan, it will cost you dearly.

No one plans like you, thinks like you or works like you! Be yourself, but strive to be better! Your personality and individuality are very important to your planning, how you organize and how effective or efficient you will be.

The second piece of the puzzle is to make sure that you have your ‘ducks in a row’– that you are organized. Being organized is not the same thing as being neat. It doesn’t mean that you have to live your life like a drill Sargent. Being organized means that you know your priorities and where the information and resources are to meet those priorities when needed.

Find a way that works for you. Don’t kid yourself and say that you are organized when you spend 20 minutes looking for the phone number you wrote down, or a copy of that proposal you sent two weeks ago. Constantly work on creating better plans, better systems and being better organized. Strive to be a better you!

You must create systems or have someone help you to create systems that work for you. Then your plans will have a better chance of being accomplished and the changes that you want to see happen.

Take five minutes to make a list of what are the top five priority goals in your life and the critical information and resources that you need to reach those priorities. Then ask yourself, “how organized am I really in these critical areas?”

As a person who has worked with business professionals for over 25 years, I have helped to create the systems and strategies that fit your individual needs and to bring about the changes that you want in your life or business. When will you take the time to start getting organized?

Make your planning work for you!

Are you using the DIY Marketing Method?

Most people learn how to do marketing by throwing money at a tactic and seeing if it works. Keep trying and then, keep what works, throw out the rest. It is the DIY Marketing method. But that method will only get you so far.

With a specific plan in mind for your marketing dollars, you will have much better results. Here is a real simple three step plan that will improve your marketing results. Try it!

1.  Who is your Ideal Client?

Create a profile of who this person is. Can you write out a description of your ideal client so that someone else who reads that description can identify a specific person?

2.  What is your message?

Assuming that your ideal client is going to read your message, what do you want them to know? A better question would be to ask, what do THEY want to know? Make sure your message is relevant to them.

3.  What is the best media?

You know who you want to talk to and what you want to say, the question is what media or method will most likely capture your ideal client’s attention. If you want to reach a golfer maybe you should put an ad in a golf magazine, or sponsor a hole for a local charity fundraiser. Make a list of all the possible media opportunities and then determine the best avenue for your marketing goal.

Coordinate various tactics so that you have synergy, and are building on other tactics. This is a smart approach to marketing. Don’t just make decisions based on available funds, make choices on maximizing the return on money already spent as well as current and future funding.

If you have some thoughts, leave a comment.

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Crossroads Consultants is a business growth strategy company. Growing income or profits takes planning and excellent execution. The keys are quality planning, being organized, directing your people, and controlling your business.

You can reach Stan Broesder, MBA with Crossroads Consultants at 980-241-0189 or email: Stan@MyCrossroadsConsultants.com

A Key Step to Growth – Learning how to shift gears

One of the key steps to growth as an individual or as a business is the ability to shift gears.

1. Accomplish more with the same resources

Essentially this is a skill that requires a person to accomplish more with the same resources they currently have. Just like in a car. If you want to go faster eventually the transmission must shift gears. There is no more of the vehicle and no more of any resource, it is just using the resources that you have more effectively. The use of leverage is the key to growth.

2. “I’m giving it all she’s got!” — Scotty

Many individuals see themselves as being stuck in life and business. Most are running hard, have very little extra to put into growth, let alone being able to sustain a more complex or higher level of production. Whenever someone suggests trying something new they reply, “When am I going to have time to do that” or “How can I afford it?”  So ultimately, nothing changes until there is a breakdown, which is usually quite painful.

3. Are you insane?

As long as you see yourself as stuck with no real options, you will keep doing what you are doing now until some other force changes the status quo. Your health, a new competitor or the loss of a big client, are just a few of the many possible outside forces that can bring unexpected and painful change.

4. “Change is life. Growth is optional. Choose wisely.” — William Summerset Maugham

There is hope for anyone who wants to grow and see positive change take place in their lives or their business. Even when there are few extra resources. The systems in place may have worked for you for a while now. You might be thinking, “We don’t want to rock the boat”. But while you are trying to not fail, others are going to adapt and succeed at your expense.

5. Growth requires change.

The question is will you take action and be in control of the change and growth of you and your business, or will it happen to you in which you will be in the reaction mode just trying to hang on and survive?

It is great having a vision for where you want to go with a plan that enables you to use the resources you have right now in a leveraged way and watching those dreams come true on a day to day basis. Choose wisely!

Action step:  In order to really grow you must find space to think and act. This may take some planning, reassessing priorities, or delegating. One of the first things that I do in working with my clients is to find ways to help them find some space. Today we are running so hard we don’t have time to stop and ask for directions, or even to orient ourselves by looking at the map. If you have ever watched “Amazing Race” you know that it can really cost you if you don’t.



Crossroads Consultants… can enable you to predict, plan and prepare for the future and the changes that are coming your way. With the proper tools and information you can begin to make the changes necessary to increase you production and provide you with a better lifestyle at the same time. Stan Broesder has the education, skills, and experience to make your growth smoother and easier.