According to the Small Business Administration many businesses start without a business plan.  I’m not convinced that information is entirely accurate.  I believe most business owners start their business with a clear vision for how their business will operate even if they don’t have that vision recorded in a formal written business plan.

As long as you don’t need funding you won’t be required to have a written business plan either.  So is a written business plan all you need to ensure your business succeeds when others fail?  Well, it isn’t quite that simple.

The Small Business Administration also states 2/3 of new businesses will survive at least 2 years and 44% of new businesses will survive at least 4 years.

Stated another way, 33% of new businesses fail within 2 years and 56% fail within 4 years.  Like all statistics those statistics only matter when you happen to be one of the business owners who find yourself in the failing group.

When you need funding you are required to present a written business plan to the institution or individual providing the funding in nearly all cases.  The problem is the people reviewing your business plan are primarily interested in your financial projections even though those projections are nothing more than hopeful thinking.  Plus the loan officer reviewing your business plan is no more qualified to review the most important elements of your business plan… your marketing and sales plans, than you are.

Did you know a lot of small business owners live off their savings for the first 3 years of operation?  Many have to tap into those savings to provide operating cash for their business when their initial funding runs out too.

A big reason many new business owners and existing business owners get into financial trouble and risk failure is because they don’t have an effective sales and marketing plan for their business.  When you don’t have an effective marketing and sales plan to begin with it’s nearly impossible for you to make the mandatory course corrections you will need to make to thrive in an ever changing business environment.  Many of the situations that cause the greatest threat in your business are outside your scope of control yet you have to effectively deal with those threats if you are going to survive.

The 2 Most Important Elements of Your Marketing & Sales Plans

Whether you are thinking about starting a business, preparing your business plan for funding, or looking to increase existing sales you must make sure your plan:

• Positions your business to sell the right things, meaning the things your ideal clients are already looking to buy
• Builds on a marketing message that triggers the motivation within your ideal clients to take an action

Your marketing and sales plans should not be complicated.  Instead focus on keeping your plans simple.  Start simple, track everything, expand on what works and eliminate what doesn’t.  Finally, never expect the plans you have today to work forever.  Keep your ear to the ground, watch your numbers, and anticipate changes in the business climate.

Coach Cheryl

Do it Yourself

Do it with a Little Help

Do it with Guidance

Whether you are thinking about starting a business, you’ve just started a business, or you’ve got a business that just isn’t producing enough sales you probably share a common challenge.

When most people think about starting a business the first thing they do is look for a product or service to sell.  While that may sound logical it actually sets you up for an ongoing challenge that you could easily avoid.

Have you ever noticed how new businesses seem to be a little confusing?  It seems like this is especially true in service businesses.  Every time you talk to them or hear them talking to others they are talking about their expertise in yet another area.  It lessens their credibility when they do that.

No one can be an “expert” in every area in a given body of knowledge.  You know when I earned my bachelors in chemistry we were required to study the 4 main areas of study in the subject matter: analytical, organic, inorganic, and biochemistry.  The body of knowledge in each area of study is so huge that you can’t even proclaim expertise in an area of study.  Rather you become an expert in one small aspect of that body of knowledge.

It’s no different in any industry.  So when you are a tax expert one day, a criminal trial lawyer another, and an estate planner on yet another it leaves your audience confused.  They logically respect that while an attorney can legally do any of those things it isn’t likely that you would want a tax expert as your criminal trial lawyer unless the charges were tax related.

Andrea Stenberg wrote a very interesting article about branding and how the beer company Dos Equis approached branding to increase their sales.  Good stuff.

However, as I read the article I realized that the big challenge in branding for most small businesses is less about the concept of branding and more about the fact that they have no clue what they want to be known for.

This challenge happens for good reason.  You don’t know what you want to be known for because you started your business based on a product or service.  That’s backward.

When starting a business the best way to figure out what business you want to be in is to first:

• find out what people are already looking to buy
• find out who is selling them that
• then figure out how you can set your business apart from the competition as “the” source for getting that

Once you know that you can then identify the product or service that does that and build your business around solving that problem, getting that result, or achieving that outcome.  THE PROBLEM is the starting point.  THE MARKET is the starting point NOT the product or service.

When you build a business around serving the needs of a hungry audience you can screw up and still not fail because you have a large market filled with ready buyers who are willing to cut you some slack because you produce the goods.

You set yourself up to pull the string rather than trying to push the string.  You avoid dealing with all the knots you get when you try to approach things the wrong way.

Yet another example of how some commonly held beliefs are wrong.  I talk about more of these ideas and how to overcome the challenges that result in a video I made recently.

Coach Cheryl

Do it Yourself

Do it with a Little Help

Do it with Guidance

photo credit: singsing_sky

More and more of the formerly employed are facing the fact they probably aren’t going to get a job anytime soon.  This leaves the choice of watching your savings dwindle to nothing or figuring out how to earn a living.  Many are deciding they’re going to start their own business.

Bad News Good News

The bad news is most do not have the financial capital they need to start most businesses… and they don’t have a way to get that capital.  The good news is there are lots of businesses you can start with very little capital that don’t require a store front.

The bad news is you probably don’t have an idea for a product or service to sell in your business.  The great news is you don’t already have an idea for a product or service.  Most entrepreneurs are mentally married to a particular product or service from the start.  They then have to figure out who will buy it and how they’ll get them to buy it.

You, on the other hand, can figure out what people are looking to buy first.  Then you can figure out how to help those people get that.  That means you have a market first.  Plus you already know people can and will spend money to get what you have to sell.

That means you’ve removed one of the biggest obstacles most business owners and sales professionals have… getting people to sell their stuff to.

So if you’re thinking you’re going to have to start a business to pay the bills don’t panic.  You have the opportunity to start your business off right.

1. Find out what people are already looking to get or get rid of
2. Figure out what products or services help those people get or get rid of that
3. Develop a clear message telling people you can help them get or get rid of that
4. Get your message in front of those people
5. Give them a way to connect with you
6. Help them uncover their motivation to act
7. Help them uncover their motivation to buy

This is all you need to do in the simplest terms possible.  Making it all happen isn’t so simple.  But when you start off with a hungry market you have a huge competitive advantage.  You will find it much easier to accomplish all 7 steps than you would if you had your product or service idea first.

Congratulations!  You now control your own destiny.  Go out and make it a journey you enjoy.

I can’t tell you how many conversations start out with a business owner telling me they feel so stressed and overwhelmed they just aren’t sure where to turn or what to do next.  There’s a one word solution…

FOCUS

9 times out of 10 these feelings are the result of a LACK of focus.  It isn’t intentional on your part.  You have so many responsibilities and obligations it’s far easier to lose focus than it is to maintain focus.  To regain your focus remember to…

Follow through.  Whatever you start you must follow through and finish.  Whatever obligations you make or responsibilities you take you must follow through.  So be careful what you take on.

One action at a time.  Whatever you choose to work on, work on that one thing and only that one thing at a time.  That means no answering the phone, checking email, or stopping to chat while you’re working until that one action is accomplished.

Concentrate on the actions that produce results.  There are tons of things you could do, should do, might be fun to do.  But when you’re deciding what to do next always take the action that moves you closer to a paycheck first.

Use your resources to produce the biggest payoff.  Everything you do requires a resource whether that resource be time, money, or manpower.  Evaluate your resources and use those resources to produce the greatest result.  Leverage your actions so one action produces a result in many ways.

Stop doing the things some one else should be doing.  You should be doing the things someone is paying you to do.  That means you should be doing the things that produce a result that produces revenue.  Eliminate or offload all the things that don’t produce a result for you.

photo credit: Kathryn,

Once you remove the things that don’t deserve your focus and focus on the things that do you’ll find it’s a whole lot easier to get the important things done.  As you get those things done your stress goes down… and those feelings of being overwhelmed simply go away.

You know what’s good about a tough sales environment?

It gets you to rethink your decisions…

Right now many business owners, entrepreneurs, and sales professionals are reviewing their expenses looking for ways to cut overhead costs.  You need to operate lean and mean as you adjust for the current sales environment.  What can you really do without or cut back on?

Paying for an Office Space?

Are you paying for an office space?  Recently, Celine Rogue wrote a good post about planning a home office in a small space.  She had some good suggestions. Her article got me thinking about the overhead costs associated with an outside office.

Perhaps it would be worth your time to rethink your decision to maintain an outside office.

Who is your office really for?  Sometimes an outside office is more for your ego than your clients convenience.

What does an outside office space provide for you that a home office doesn’t?  There are virtual offices where you get the services of a receptionist plus use of a conference room.

How do you use your office?  Do you need to get away from the family to do your work?  Is traveling to and from the office eating up valuable time you could put to better use?

When do you need an outside office?  Could you partner with a couple other professionals and share a space by rotating who uses the space when?  Could you meet in a neutral location and accomplish the same thing?

Where is the most convenient location for your office?  Who is this location most convenient for?

Does having an office increase your sales enough to provide a return on your investment?  How do you know?

Some people absolutely must have an outside office.  Others could reduce overhead costs and fulfill all their needs in a well organized home office.  The technology today makes it possible to do most anything anywhere anytime.  Plus a well organized home office can increase the amount of time you actually have to sell.

Something to think about…

photo credit: Don Nunn

Gas prices are sky rocketing.  We’re in an economic slow down.  Everyone is cutting expenses because everything is costing more not just gas.

So how are you supposed to sell more insurance?

It would be so easy to get in the trap of excusing your way out of increased sales.  It would be so easy to say you’ll just have to tough it out until the economy turns around.  It would be so easy to watch what happens rather than making things happen.

But none of those things put money in YOUR bank account.

Now more than ever you need a proactive plan to increase your insurance sales.  But what do you do?  Let’s talk about what you don’t do first.

The very things you’re told to do are unproductive, de-motivating, demoralizing, and above all don’t produce the desired results.  You’re told to:

• make more phone calls to complete strangers
• get in front of more people…any people
• get your name out there
• work harder, drive further, and bend over backwards for more people
• pay your dues now you won’t have to cold call hardly ever eventually
• keep doing the things that aren’t working because winners never quit and quitters never win
• run your ads at least 12 times because it takes that long before people will remember it
• invite people to a dinner seminar where you pick up the tab
• compete on price and quote, quote, quote

These and a lot of other things that are all ABSOLUTE BUNK.  The sales manager telling you this bunch of lies doesn’t know any better, and doesn’t know what to do any more than you do.

If you want to sell more insurance today, tomorrow, all your future tomorrows there are 7 things you must do.

1. identify a market you can dominate
2. attract highly qualified prospects TO YOU
3. channel those highly qualified prospects into your sales funnel
4. align the way you sell with the way people buy
5. help your potential new clients make the best decision for them
6. focus on the top 20% of your clients
7. earn referrals

When you can do those 7 things you’ll not only increase your insurance sales you’ll have a sustainable and profitable business allowing you to live the life you want to live.  Instead of being a desperate beggar you’ll become a respected professional a trusted advisor.  Get your free report the 7 Steps to Turning Your Business into a Top Producer by clicking on this link or visiting the  Coaching Mega Agents website

Stop the insanity of doing the things that don’t work, have never worked, and certainly won’t today, and start doing the things that do work.  7 Steps to Turning Your Business into a Top Producer  

photo credit: Jason McHuff

Happy fourth of July everyone!  In just a couple days you’ll be enjoying the fireworks.  Do you need a spark to get your business back on track?

Even though I like the 4th of July it always makes me a little sad too because for some reason I always think about it marking off half the summer.  It also means over half the year is over too.  But that also means you have half the year to turn things around and inject a power boost into your business.

Have you already registered for the “How to Double Your Business in 90 Days” webinar?  What are you waiting for?  You only have until Tuesday July 8.  It might be too late, but just in case there are still a couple spots left hurry over and get registered for this business doubling webinar.

I look forward to having you join in:-)

photo credit: Marcin Wichary

Join in Tuesday July 8 11:30 a.m. Eastern time.

A one hour webinar that will get you locked and loaded for success.  How long has it been since you felt like your business was on fire?  Since you had money streaming in and clients attached to that money.

Do you feel a little stuck?  Maybe even stagnant?  Are things moving backward rather than forward?

Now you can discover the secrets to reigniting the fire in your business.  Open the throttle and put your business engine in supercharge and never look back.  If you’ll set aside one hour and invest in yourself to join this webinar you’ll discover:

• at least 5 ways to double your business
• the gaps between what you’re doing now and the results you want
• the 5 key proficiencies that make you almost automatically successful
• your opportunities to multiply your prospects and convert more into clients
• how to get what you want when you want it

Proven business principles that have worked in all successful businesses and they will work for you too.  Imagine a future where you enjoy continuous growth and financial security.  The future is yours.

All you have to do is go now and register for this business doubling webinar.   Here’s the link to reserve your spot…  How to Double Your Business in 90 Days

I encourage you to get registered now.  Several people missed out on last months webinar because the webinar was closed by the time they went to register.  Don’t let that happen to you.  Go now…

July 8 Webinar to Double Your Business

photo credit: Shkumbin

Are you prepared for todays business environment?

Yes, you got off to a good start.  You blew the competition out of the water.  You were recognized and admired by your peers for your unbelievable success.  Yes, it felt good.

Your future success depends on your ability to keep the momentum going.  You don’t want the start and stop feast and famine roller coaster you see others around you suffering.  You want to continue on a path to success like a freight train rolling down a mountain.

Please join me Thursday May 22 at 2:30 eastern time when I’ll share with you “How to Outlast & Out Perform the Competition” via a webinar.  This power packed hour will help you to:

• discover how to change what you see
• uncover the formula for success making you literally unstoppable
• identify the underlying obstacles keeping you from having even greater success now
• reveal a performance formula guaranteed to produce results
• discover how to use proven techniques to get results now

You’re a savvy business person who knows the success that got you where you are now won’t get you the success you want in the future.  Listen in and uncover exactly how to keep moving where you want to go.  Keep the competition at your back and the wind in your face.

Make sure you secure your spot for the webinar by clicking on this link and registering today.

“How to Outlast & Out Perform the Competition” Webinar