Key Business Building Strategies – How many are you doing?
For many entrepreneurs there’s nothing more exciting and rewarding than being your own boss.
Working your own hours; being involved in something you’re passionate about; being able to help a client achieve their goals and seeing a huge smile on their face.
It’s a rewarding feeling for sure.
However, running your own business does come with some challenges. Particularly when it comes to getting known, getting clients and getting paid what they’re worth. And, unfortunately for many entrepreneurs this can be a constant struggle.
So, if you’re struggling to build a strong reputation in the market place, attract more clients and generate a level of income that is aligned with the value you offer, in my next two articles I’ll share 10 marketing and business building tips that will help you get known in the market place, get more clients AND get paid what you’re worth.
In this week’s article I’ll share the first 5 tips. See how many you’re currently doing
Business Building Strategy 1: Credibility – Build Authority
With so much noise and competition out in the market place it can seem impossible to be heard amidst all of the noise. That’s why it’s important to continuously be building your reputation as a specialist in your field so that you’re the person that’s recommended.
- Are you recognised as the ‘go to’ person in your field?
- Are you differentiating yourself from all of the people working in your industry?
- What’s one thing you’re really proud of that showcases your expertise and authority in your field and that your ideal client can recognise this instantly?
And more importantly, can your ideal client recognise this from the information you are sharing?
Business Building Strategy 2: Visibility – Build Awareness
Despite the fact that you may be highly skilled in your field with the ability to make a significant impact in the lives of your clients, it’s going to be difficult to be of service to others and to build a successful business if no-one knows about you.
- Do you have a marketing strategy that gets your name in front of your ideal client on a regular basis?
- Does your marketing strategy include both online and online initiatives that you regularly monitor to ensure you’re generating interest?
- Are your marketing strategies working and constantly driving people to your website? Is your newsletter database (i.e. your list) or connections on social media growing daily?
The number of email enquiries and phone calls you receive from prospective clients should indicate whether it’s working or not. Is it time to change your approach?
Business Building Strategy 3: Connectability – Build Relationships
People do business with people they know, like and trust. Are you approachable and easy to connect with either online or offline? Are you open to having a friendly conversation and building a relationship? Remember, while a person may not be your ideal client, they may have access to your ideal so don’t be so quick to judge and pass up the opportunity to connect.
- Is online and offline networking part of your marketing strategy?
- Do you have a solid follow up system in place that can strengthen the relationships you are building with people you meet?
- Are you taking time to build the relationship first? Or are you committing the ultimate networking ‘sin’ of thinking that networking is all about selling It’s not. It’s about building relationships first.
Networking can open the door to numerous possibilities including joint venture opportunities, affiliate relationships, media/PR opportunities. Make sure networking and building your connections and relationships is part of your marketing strategies.
Business Building Strategy 4: Desireability – Build Appeal
Now that you have a solid marketing plan in place and are regularly networking and bringing in qualified leads to your door, have you created desireability in the minds of your prospects so that YOU are the person they choose to work with when they are ready to move forward?
- Is your message influential and honing in on the needs and desires of your ideal client so they recognise that you can help them achieve their goals?
- Are you building social proof by sharing the successes of your current and former clients?
- Does your sales message (i.e. information about your programs) highlight the benefits and outcomes your client can expect to achieve should they invest in your support?
You should be.
Business Building Strategy 5: Profitability – Build Self- and Net-Worth
The first person you make the sale to is yourself. Would you invest in you? If not, it’s going to be very difficult to promote yourself confidently during a conversation with a prospect.
Caving into a discount as the only way to get someone to say ‘Yes’ to your services is not only a withdrawal from your physical bank account – it’s also a withdrawal from your self-worth account. Make a commitment to stop devaluing your services and to start charging what you are worth.
- Have you written a list of benefits someone will achieve by working with you? You should remind yourself and your prospect of these benefits as you speak to him/her about your programs.
- Are you still charging by the hour? Stop! This is one way you can limit your profitability as prospects will often begin to compare prices. And you don’t want to be seen as a commodity. Nor do you want to get stuck in a pricing war.
- Put your prices up. [I’m sure if you’re really honest with yourself, you are undervaluing and undercharging for the value you offer. Right?!]
Increase your fees.
To be continued next week…
Related Business Coaching Posts
- Audio Biz Tip: You Are Your Greatest Asset
- Credibility: 10 Ways to Build Authority
- 3 simple steps to get you away from the ‘time-for-money’ business model
- Building Trust with Your Community
- Your Blog: Free or Self-Hosted. Which is best for your brand?
Struggling to build a successful coaching practice / business? Feel undervalued & underpaid? Find it hard to get new clients?
Access my Biz Success Kit to learn:
- How to Get Paid What You're Worth
- Money Mindset Breakthrough Secrets
- Busy-ness vs Productivity & Profitability
- And MUCH more ...