Entrepreneurs are curious by nature, yet time and time again, we’ve come across entrepreneurs who say they are ready to start a business. Yet, in my meetings with clients, I ask some basic questions about running of the business, like, “why are you different?” or “How will customers learn about your business?” and “How are you pricing your effort?” or “Who is your direct competitor?” And, I get that look of fear, or of confusion. Yet, these are basic “business 101” questions. [Read more…]
Get PASSIONate about your business. But keep it REAL
Get passionate about your business. But keep it real. What we mean by that is to combine the two. Most businesses from an apple orchard to providing Zumba classes began because of the passion of the founder for that idea. It’s that desire to use a specific a gift, or put passed down experience to work, that creates an enjoyable worklife, that finally supports the business owner, and provides jobs for others. That inner spark that nags you to start your business and keeps you excited is what we call passion. Remember that feeling, breathe it in, put up reminders in your office, in your car so you don’t forget it. [Read more…]
Pride in Startup Businesses
How come when I hear grandparents describe their grandchildren or parents post pictures of their kids on Facebook, the pride and descriptions are off the charts? For instance, a child’s first steps are frequently described or photographed as if it were ballet or a sports performance. When I read or listen to business plans, mission statements, or introductions to startup businesses, however, they frequently sound alike and do almost nothing to make the entrepreneur sound special. For example, what makes a business sound special when they use some of the following phrases: fair prices, well-constructed, trendy, top quality, and excellent customer service?
These are not much more than basic requirements to be in business. In contrast, below are two quotes that illustrate real pride: [Read more…]
Business Presentation and Image
Business Presentation and Image
Introduction
You only have one chance to make a first impression.
An investor received a knock on his office door and in walked a woman dressed from head to toe as an avocado.
She reached in her bag and handed him a thick business plan about guess what?
Avocados!
The investor shook his head in a “No Way!” gesture, and as he let the woman out, said to her, “Regardless of whether I was interested in what you had to say, I’m not about to do a deal with anyone dressed like an avocado and a plan as thick as a phone book.”
Outrageous as this anecdote may seem, such stories abound in the world of investment and business. Many entrepreneurs fail to realize that a critical factor in startup success is your image and presentation.
And fewer still understand the need for SIMPLICITY.
The Good News?
Creating a professional business presentation and image need not be expensive or complex.
The (potentially) Bad News?
Creating a simple, clear business presentation and image can be very challenging.
Consider the following facts:
- “90% of most impressions are made in the first 30 seconds of contact, and they are not based on the substance of the communication”
- I repeat: “90% of most impressions are made in the first 30 seconds of a meeting and they are not based on the substance of the communication”
- Most people will only spend 2-4 minutes on your website, and the top three places on most Google searches account for 80-90% of the clicks
- Our lives and careers are over-saturated with digital, video, audio, and print content. About the only communication media that are declining are the US mail, catalogues, and newspapers.
The challenges of presenting the right image and making impactful business presentations are crucial to resolve if you want your business to rise above the “chatter.”
If you think I am on to something, read on.
General Considerations
It’s Not About Content
In early business presentations, we frequently become preoccupied with the format and content and we neglect the most important consideration — our Goal and Purpose.
Are we selling something, developing a relationship, impressing the audience, or something else? What is the “take-away,” the “call-to-action” that is actually desired from the audience?
- To buy your product?
- To sign a contract?
- To invest?
For many entrepreneurs, it seems that the “Goal” is:
- To bore the audience
- To put them to sleep, and
- To insure that there won’t be a next meeting.
How to Manage Inevitable Distractions
Let’s say you are presenting to a group and there is someone in the audience who is creating a distraction, or getting you off track with irrelevant questions. You need to remember that it’s YOUR job to manage the business presentation and not allow such distractions to derail you.
The Curse of “Content” — Why “KISS” is the Key
A few weeks ago, a client and I were discussing how to improve a business presentation because he thought the material was over some of the participants’ head. He insisted on including as much content as possible. He failed to realize that too much information can lead to failure.
The simple rule: “KISS” applies to almost every business presentation.
One expert uses this rule:
“Create your presentation, then cut it in half… then cut it in half again!”
How Well Do You Really Know Your Audience?
A sure way to avoid the mistake of over-complicating your business presentation is to make sure you understand your audience and their key interests.
Before you develop your business presentation, ask the following questions:
- What is the most important problem my product or service can solve for them?
- How is my product or service superior to others they may be considering?
- How much time do they have for my business presentation?
- Are my business presentation materials engaging and clear?
If you don’t know the answers to these and related questions, don’t be afraid to ask. Use their answers to help decide which benefits to play up in your message, and make it as informative as possible.
Your Image–Remember the Avocado Woman
Another key element of presenting has to do with the image you project to your audience. No matter what the “Avocado Woman” had in her business plan, she failed to create a positive and credible image to her audience.
Here’s where researching your audience and their culture comes in. If you are presenting to a “formal” business culture you may want to wear a suit and tie. A less formal company culture might mean “business casual”. The key is for your audience to feel comfortable.
Business Presentation Goes Beyond the Meeting
Another factor influencing effective presentations has to do with the type, level and timing of follow up. Emails, calls, reminders, etc. are often necessary to improve the chances that the desired call-to-action actually happens. Make sure that you understand your audience’s needs for such follow up, and tailor the type, level, and frequency accordingly.
Don’t Rely on Digital Communications Only
These days we can tend to focus too much on the communication content and not the process of the communication.
Quite simply, we are not always aware of the need for more one-on-one communication, and at times for even informal exchange with our audience as the process evolves.
Such a personal touch will often distinguish you and your company from others. It can also help build understanding and trust, which are often missing from the mass of impersonal emails, auto-responders, spam, pop-up presentations, reports and other “canned” forms of content that dominate much of our lives these days.
Emphasize the Positive—Give them a Glass That’s Half Full
There is no substitute for making your business presentation a “WIN-WIN” with an emphasis upon solutions, problem-solving, and the benefits of doing business with your company.
A win-win environment helps develop support, consensus and shared goals.
Keep your presentation positive, up-beat, and don’t speak poorly of either your competition or your audience’s competitors.
Be sure to respect your audience’s expertise, experience and opinions — this will help insure that you are taken seriously and that you are perceived as being open to new ideas.
Specific Considerations
- Make sure your information is relevant to your audience’s needs and interests.
- Don’t confuse your business presentation with superfluous information. The only thing your audience cares about is whether or not your company can meet their needs.
- Make sure all of your business presentation materials are consistent and professional.
- Give your name, your company name and try to learn the names and roles of those in your audience. Put a signature on your emails with name, website, e-mail address, and phone number.
- Anticipate Technical Issues. Frequently, events are scheduled in tight time slots to justify the expense of taking people away from work. Details such as the date, time, room, equipment, and temperature control can make a big difference.
- Don’t sabotage yourself. Many of the errors I have hi-lighted in this article can be illustrated in a “bad PowerPoint presentation.” There is nothing worse for an audience than having the lights go out and being subjected to a long, irrelevant PowerPoint presentation. If this is your plan, you could save both you and your audience time and effort by cancelling the meeting in advance.
- Take away the risk. Once you’ve built up the desire to have what you sell, you could still lose. Repeat the confidence in the product, yourself, and the company. If possible offer guarantees, samples and assistance with any problems.
- Incorporate informality humor and stories into your presentation. Vary tone, detail and emotion to create interest and avoid boredom.
- Practice appropriate business etiquette. Verbal presentation success is really a function of do’s and don’ts. The most important of these is proper behavior, dress, and courtesy. Learn to say “How are you?” “Please,” and “Thank you.” Look at people when you are speaking with them. Do not interrupt conversations to answer your phones or check text messages.
- Use visual aids, gestures, emotion, and movement to enhance your presentation. Use headlines and graphics your audience cares about
- Close with a Call to Action. Tell your audience what you want them to do after seeing your business presentation. Don’t just assume your audience will look for your phone number or email address and contact you. If you don’t tell them what action to take, they may take the wrong one, including possibly calling another merchant or service provider instead of you.
- Make it easy for your audience to respond. Be sure your name, your business name, your website, email address, and phone number are easily found. I can’t believe how many websites, e-mails, and presentations omit key contact information.
In Summary…
In today’s business environment, we are inundated with unprecedented levels of input in a myriad of formats. LESS IS MORE.
Your audience will first focus on how to filter OUT information—not how to take it in.
Your challenge is to engage your audience so they will want to take your information IN.
I was going to write another 16 paragraphs about this subject, but instead… I decided to “KISS IT”!
Are You Really an Entrepreneur?
Are You Really an Entrepreneur?
Business Start-up Entrepreneurial Predictors
Many of us like to think of ourselves as entrepreneurs. Entrepreneurs are glorified in the press and loved for their independence. The reality about most entrepreneurs and their ventures is far more circumspect. What really is an entrepreneur? What does it take to create a start-up and, more importantly, what is needed for it to be successful? These and many other questions must be answered before you can be considered an entrepreneur who should consider going out and trying to start a business.
The definition of an entrepreneur:
One who organizes, manages, and assumes the risks of a business enterprise.
While this sounds like an ideal lifestyle for many of us, one must realize the realities in terms of personality, skills, and determinants necessary for success.
Starting a Business – Myths
- Before we analyze whether you are an entrepreneur, let’s start with some of the myths that surround starting a business:
- All you need is a good idea to be a successful entrepreneur.
- If you go out on your own, you won’t have to work so hard or such long hours.
- You’ll be able to deduct everything so you don’t have to pay taxes.
- If you work independently, you won’t have to report to a boss.
- Business owners get to do the work they want to do and only what they find interesting.
Realties of Starting a Business
The reality is far different. Starting a business requires hard work, endless hours, and interminable patience. When you start a business, you have no choice but to be a jack of all trades; you cannot just focus on what you know, what you are good at, and/or what you enjoy to do. As an entrepreneur, you need to learn to make mistakes, learn from them and, what many people find so difficult to do, swallow your pride.
Here are just some of the trials and errors a number of famous entrepreneurs had to endure:
- Steve Jobs, the co-founder of the original Apple Computer, got fired from the firm.
- James Dyson, the inventor of the Dyson Vacuum Cleaner, failed with over 5000 attempts of his invention.
- Thomas Edison, one of the greatest inventors of all time, had 10,000 failed trials with his light bulb.
- Richard Branson, the Virgin Airlines founder, failed to succeed with over 400 companies before Virgin Galactic.
- Stephen Spielberg, the famed movie director, went on his own after being rejected from the University of California three times.
- Bill Gates and Mark Zuckerberg both dropped out of college to form their companies.
- The list goes on.
Entrepreneurial Predictors
Passion, commitment and energy can overcome a lot of obstacles.
When considering an entrepreneurial idea or opportunity you need to answer numerous questions about yourself, your skills, and the intangibles necessary for success. Make sure to answer all of the following questions. Even if you do not answer in the affirmative, make a mental note on how you might be able to change or improve your answer.
Entrepreneurial Predictors
- Personal Characteristics
- Skill Requirements
- Compatibility with Predictors of Success
First, Analyze Your Personal Characteristics
- Are you a self-starter?
- Do you have will power and self-discipline?
- Do you enjoy making decisions?
- Are you a good planner but can adapt to change?
- Do you manage your finances well?
- Are you willing to work 12-14 hour days often 6 to 7 days a week?
Second, Assess Your Skill Requirements
- Do you easily interact with other people?
- Do you know what specific skills you need to be successful in the business you wish to begin? Do you possess those skills?
- Have you ever worked in a supervisory or managerial capacity?
- Do you have any experience in a business similar to the one you want to start?
- Have you had any business training in school?
- Are you able to learn effectively by seeking new ideas and continuing to test, learn, and benefit?
Third, Determine Your Compatibility with Standard Predictors of Success
- Take what you do seriously but enjoy what you do and take some time off
- Plan everything but be flexible to test and change.
- Know your customers and remember it’s all about them.
- Level the playing field with technology.
- Be accessible.
- Build a rock-solid reputation and image.
- Develop your workplace , staff, organization , technology, presentation and image for success
- Set, revise, measure, and modify goals constantly. You will make mistakes.
Remember the E-Words: Energy, Enthusiasm, Excellence, Execution, and Experience.
Passion and Reality for Startup Business Success
Passion and Reality for Startup Business Success
Starting a business today requires balancing the passion and energy that come with great entrepreneurial ideas with the practical foundational programs that will allow those ideas to flourish. It sounds simple enough, yet nine out of ten startup ideas never get off the ground, or fail simply because visionary and well intentioned entrepreneurs lack the practical expertise, experience, and resources they need to succeed.
As the title suggests, “Passion and Reality” takes a deep dive into both sides of the entrepreneurial experience and dilemma. It brings together the visionary and practical considerations that every entrepreneur needs to know to give life to their new ideas without getting submarined by the realities and complexities of jump starting a business.
Rather than providing success tips, we deal with how to resolve the challenges of starting a business. Specifically, we provide entrepreneurs with tools and recommendations to facilitate starting a business. The focus is on understanding and analyzing the dilemmas and challenges of starting a business. The goal is to help entrepreneurs have better results, avoid mistakes, have greater efficiency and become profitable in less time. Here are some key perspectives that guide our suggestions:
- Starting a business involves both the passion and energy of the idea, as well as the reality of the program components. In other words, success comes from the idea, but failure comes from not understanding that the chain is only as strong as the weakest link.
- Starting a business is a dynamic process. Most startup books and programs develop segmented components of what to do that become autonomous sections of a plan. Startup success is based on the more complex requirement that all factors interact to create success.
- We focus on HOW to start a business, and not simply the WHAT. We discuss opportunities, alternatives and solutions, and provides tools, suggestions, and expertise on how to capitalize on opportunities and resolve the challenges.
- We emphasize functions like sourcing, customer service, process control, quality, etc. We consider these marketing and branding tools that can bet be optimized from a cost and marketing perspective.
- Capitalizing on emerging business, social, economic and demographic trends can provide huge opportunities for entrepreneurs. For example, mobile must be included in current marketing and operations programs.
We help clients focus on maximizing client capabilities and opportunities. We encourage owners to understand and balance the risks of failure, the need for some risk and the rewards of success. The underlying principal of StartupConnection.net is to encourage entrepreneurs, as Emerson says, “to believe your own thought, to believe that what is true for you in your private heart is true for all men – that is genius.” However, success also takes time, analysis, programs, capital, and commitment. Entrepreneurs must allow their passion to drive them while staying vigilantly in touch with reality.