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Got Powerhouse Plexus?

July 17, 2010 | No comments

I love words. I chew them up, digest them, integrate them and tear them up. My word this post is “plexus”. I’ll get to why in a second.

What is a plexus? I’m glad you asked:

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plex⋅us

/ˈplɛksəs/ Show Spelled Pronunciation [plek-suhs] Show IPA

Use plexus in a Sentence

–noun, plural -us⋅es, -us.

1. a network, as of nerves or blood vessels.

2. any complex structure containing an intricate network of parts: the plexus of international relations.

Origin:

1675–85; < NL: an interweaving, twining = L plect(ere) to plait, twine + -tus suffix of v. action

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Now, why this word at this time? I was searching for the exactly perfect word for a new group I want to start. I was privileged just recently to participate in a Summer School for Entrpreneurs offered by Paige Stapleton and Brian Stark that absolutely rocked my world! The biggest tip the 20+ speakers shared (every single one of them!) was that you need to network and connect with others who can be mentors and partners with you. You can’t create your entrepreneurial empire by yourself. It just doesn’t happen.

I say it takes a T-E-A-M (Tell someone else what you’re doing – Enroll someone else to help – Ask someone else how they did it – Move forward together).

Then I found “plexus”. This works much better.

So, I guess what I have been doing is created a people plexus; a network of cogent powerhouses who are all working towards a common goal – success by service. The members of my Powerhouse Plexus are men and women who come from heart, who see what’s missing and guide others to fill in the gaps and live powerful, passionate and possibility-filled lives. For me, anyone who comes to me as a client is one of the most wonderful gifts, because those people have recognized that the next step for them is a partnership of excellence and that they don’t have to do it all alone!

Have you started creating your Powerhouse Plexus yet? Here are the requirements for mine – start making your list of attributes to find yours.

1) The participants in the plexus need to have recognized the need for partnership

2) The participants in the plexus need to have a sense of something bigger in the marketplace and not come from a scarcity mentality*

3) The participants in the plexus must be willing to help

and lastly

4) The participants in the plexus must be proactive, personally powerful and living their own dream.

So? Who’s in your Powerhouse Plexus? Am I?

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Addressing A Different Sort Of Problem

January 5, 2010 | No comments

Are you working from a home office? Are you hesitant to give out your home address to customers and clients? Are you reluctant to print your physical address on your business cards?

Join the club. I don’t want people showing up at my house, either. But there is a disturbing trend to drop mailing addresses from business cards and advertising. The only reason I see and hear my clients who are home-based give is that they don’t want customers coming to their homes. Well, guess what, when you don’t give a mailing address/street address, you’re letting folks know immediately you work from home!

The solution is quite simple and is nothing new. I remember getting this piece of advice in the 80′s from a mentor/friend of mine and I believe it still holds true: “If you don’t have a street address or use a Post Office Box as a mailing address, that gives the impression that you are less than solid, that you are a temporary concern and may not be around when your customer needs you.”

Postal Annex photoIn this day of virtual business, I entreat all entrepreneurs to think from your contacts’ point of view. What do you do for a Yellow Page ad? There are those who still use those to find businesses. What if they met you at a tradeshow, but forgot where you were located and want to find someone who delivers your product locally? What if they need to send you a contract for your services? What if they want to thank you with a card or a gift? There are numerous reasons to have a physical address available for them beyond the professionalism issue.

There’s an increasing popularity in sending greeting cards to your prospects to seal a deal or touch them in a different way. Look at the phenomenal growth of Send Out Cards ( no affiliation, just an observation). I get one of those at least once a week from all sorts of contacts. It’s a disservice to your contacts to not provide some kind of physical address.

Here’s what I recommend: Instead of a Post Office Box or your home address, you can rent a box at a mail drop. These are companies you see all the time in your daily travels. There is probably one down the street from you. These are companies like Mailboxes, Etc., The UPS Store, Postal Annex, and so forth. You can find them in your yellow pages or their websites provide local stores. The investment is minimal (it’s $10/month at Postal Annex)  but you get a street address as well as much more.

I’ve used a maildrop for my business address for the last 20 years. When I moved from California to Washington, my mail was forwarded seamlessly for the first 2 months until my change of address took effect. My clients and customers did not have to participate in the craziness of finding a new “home”, setting up the other business services and settling in. I could relax and know that as far as they knew, everything was under control and running smoothly. (Hah!) Using a service has provided freedom from waiting for packages to arrive, security so that if packages or mail (bearing checks!) arrive while I’m out they don’t disappear, fax services, packaging and shipping services, copy services and some have even provided 24-hour access.

I recommend you at least check this option out and I request you start putting a mailing address on your business card for the rebels who like snail mail (like me).

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One Niche Or Two – Managing Multiple Market Segments

January 5, 2010 | No comments

I have realized just lately that in spite of the current trend of “niche-ing down” or targeting one specific demographic,  some of us continue to serve two markets  and although they sometimes have things in common, they do not intersect. I have two very different products and even though some of the consumers of Product #1 may need #2, and vice versa, not everyone wants or needs both.

I was listening to a podcast last week where the presenter was talking about Venn Diagrams – remember those?

Venn diagrams or set diagrams are diagrams that show all hypothetically possible logical relations between a finite collection of sets (groups of things). Venn diagrams were conceived around 1880 by John Venn. They are used in many fields, including set theory, probability, logic, statistics, and computer science.

How many of you are trying so hard to follow the instructions of the gurus out there who are telling you to find a specific audience, target market or particular niche where you offer your products and if you can just find that one mysterious niche, all will be well.

I’m here to tell you, I can’t do that and neither can some of my peers.  Can any of you relate to the stress and frustration of trying to force a multi-niche product to fit into a market where it doesn’t sing?

So how do you manage a multi-market business?  I know it’s more work, but it’s important to know both your audiences. It’s also important to be absolutely sure that you do have unique demographics that use your products. Saying you have two markets is not just an easy way to avoid drilling down to identify your people. All the work you do to get to know your specific audiences (I really hate the word “target”) will tell you where they intersect and where they don’t.  Then you can begin to discern who those markets are and how either of your products can serve them.

Until you can mentally sit down for a cup of coffee with your ideal client/customer, until you can close your eyes and see them sitting across the table from you; that means know what they like to eat, how they take their coffee, who they watch on TV and so forth, you won’t know how to approach them.

The fun for me and I hope for you, is the journey to get to know those you most want to attract. Go meet them, greet them, and get to know them intimately. Here are a few tips to get you started.

1)      Put yourself in their shoes mentally – who would most likely buy from you/hire you?

2)      Where do those people you identified above shop, what do they read, what do they wear?

3)      Once you figure out where they shop, go there, too! Take a look around and see where this group is not being served.

4)      Try taking a survey – start talking to people you would most like to attract and ask questions, then, most importantly, listen to the answers.

5)      If they belong to an organization, contact the organization to see if they have information you can use.

It all comes down to knowing your audience. Once the strangers in your audience become friends, you’ll know them well enough to be able to directly address their needs – no matter which of your niches they fit into. Remember your own priorities. You are here to be of service on your way to being profitable. The core message behind sales is always to find a need and fill it. If you have a product designed to help more than one market segment, so be it.

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This article is also published on Biznik.com

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First steps to create an identity

May 17, 2009 | No comments

You have your idea, your business license, and now you need to create your company. What does it look like to others? Do you want a professionally designed corporate identity? Do you even know what that identity should be?

seedling

seedling

Here are some steps to follow in the very beginning:

1) Imagine your company 5 years down the road – what sorts of things do you want it known for?

Imagine it however you want to – What I usually recommend is that you imagine yourself sitting down to your desk and reaching for a prospectus on your company that lays on top.  What does it say? How does it say it? Does it sing? Is it tightly worded for maximum effect? How well does it reflect what you originally set out to do?

2) Is there a symbol or a phrase that sums up exactly what you’re up to?

Is it displayed prominently on your paperwork? Your business cards, your website if you have one?

3) Before you settle down to the fun part of designing a logo, color scheme and office space, you need to figure out your primary message or even what used to be called a mission statement.

Is this something you can tell folks as an elevator speech? Does it succinctly embrace your market, your business and your goals?

4) Once you get that part, the rest is easier since everything you do needs to reflect what you’ve just figured out.

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Doing BUSINESS: Everything Old Is New Again

February 14, 2009 | 5 comments

tiedyepanelNow, let me establish first of all that I am three years older than dirt. I’ve been around the block so many times, there’s a permanent ridge carved in the sidewalk. For most of my years, I’ve been an entrepreneur, mostly on my own, having to figure out the who, what, when, where and why and for how much by trial and error.

For the last ten years I’ve been working on learning how to do eBusiness; with websites, blogs, social networking, and all that jazz. Here is what I have come up with. One on side:

  • It’s very easy to get distracted by all the “need to do’s” out there; need to learn html, need to get a blog, create a website, get into Twitter and Facebook and all the rest of it.
  • It’s very glamorous to be touted as an online expert, an impressive force, in the new web-based world of high tech and fast tracks.
  • Info-products are great tools and they’re easily published and acquired

However, business is business and there are certain undeniable concepts to doing business that will never EVER change (nor should they)

  • There are buyers and sellers to every concept, whether it’s a physical product or an idea
  • Dedication to putting the “other guy” first will always get you further
  • A basic tenet of doing business is “Find a need and fill it”
  • What is now called a “niche market” used to be called “area of specialization”
  • The first step to communication is relatedness, learn about the person you’re talking to – do a little research before you meet.
  • What sells, has sold and will continue to sell and that’s YOU, not your product
  • People love to buy, but hate to be sold
  • You can’t hide behind the internet – you need to make personal contact!

I don’t think these things will ever change. The concepts and practices that build business and sales still apply and still are benchmarks to strive for.

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