Biz Coach Steve

Tag: entreprenuer

  • TIME TO GET BUSINESS SMART

    We all know those people that are either book smart or street smart. Combining the two make one very sharp individual.

    What about business smart?

    You may have met someone that was business smart. They started multiple businesses and sold them after they were built into a highly successful entity.

    What do you think they know that you don’t know?

    Your smart! You must be. You’re reading my article.

    But in case you are wondering. Here are 10 ways to get business smart. Now, there many more, but here’s a well-rounded ten for you to work on or improve on.

    1. Come up for air: Are you sitting in your ivory tower scanning data, financials, and reading reports? If so, get out and really learn about business. You need to be well versed in all areas of business to be successful.
    • Talk to others: Take marketing to lunch.  Chat with business development. Get out of your office and talk to your employees.  Just ask them questions, no advise, no managing, just questions-personal and business.  This will be very helpful when you want to know the truth about some issue that popped up.
    • Spend time with the customer: No one knows what they want better than the customers, so why not ask them?  Some very successful company CEO’s spend a day every month on the phones with the customers to really hear what the customers want and need.  The customer does not know they are speaking with the CEO, just having a real conversation.  Just think what you will find out by speaking to your customers.
    • Get a business mentor: Find someone who knows the business and get him or her to teach you.  Provide technical knowledge in exchange.  ALL great leaders have a mentor.  Find one that will give you advice, hold you accountable to yourself, and can be a great resource for you and your business.  Get a SCORE mentor.
    • Pick up a book: Burn the midnight oil and read up on business basics.  When speaking to business owners that are successful, they are always reading their industry magazines, zines, blogs, listening to podcasts and reading a book about business.  For you to be ahead of your competition and satisfy your clients you need to be in the know and ahead of the game.  Read!
    • SSPA: Stop speaking in acronyms:  Others will understand better when you translate techspeak into standard English.  When you speak in acronyms you alienate your listener and they shut you off.  Don’t assume everyone knows your industry acronyms. DYKWIM?   Do you know what I mean?
    • Polish those social skills: Learn a few communication techniques to smooth the differences between IT and the suits. You really need to speak to each department as they want to be spoken to.  If you are talking big picture to the folks that work in the minutiae you will not be on the same page with them. But, if you explain how their work relates to the big picture and visa versa, they will understand you.
    • Look for another answer: Realize that technology cannot solve every business problem.  This is where all those other tips above will come into play. You may have some answers, but I bet your team has a lot more answers – ask them.
    • Ask Questions: If nobody is telling you anything, start asking questions.  Ask open ended question, not closed end (yes or no answers). The more questions you ask the more information you will get.  Ask straight forward questions. Don’t combine two questions into one. One question at a time to get an answer, then have a follow up question if needed.
    1. Try to form consensus on terms: Get to the bottom of any failure to communicate. Have both sides speak and represent their ideas. Then ask questions to find out some underlying items, this will open dialogue with everyone to get a consensus on and item.

    BONUS:

    1. Clear Communication: One of the biggest problems with communication is filler words and NOT getting to the point. Believe me, the listener will receive your message much better without saying, “UM” “AH” and “YOU KNOW” every 4th word. Clean up your communication, get to the point and your message will be much clearer. Join a Toastmasters club if needed. If you are the leader of your organization (or want to be) clean up your communication. Then you will sound like a leader. Have you ever heard Winston Churchill say “UM” and “AH” during his famous speeches?

    These are very simple ways for you to become business smart.  None of them cost money (maybe if you buy a book and join Toastmaster-but that is a very small price to pay on your return), and only some limited time.

    Run your business smarter, not harder.  GET SMART!!

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    Steve Feld, MBA, provides training and business performance coaching to business owners, professionals and executives. Steve also speaks to organizations, conducts workshops and training.  Focusing on the lead generation and revenue creation to get growth results for the business. Contact Steve today to see how he can assist you grow your business, [email protected], or www.bizcoachsteve.com. He is in the business of growing businesses. Need a speaker, contact Steve today. #bizcoachstevef #entrepreneur #smallbusiness #business #smallbiz #coaching #businessowner #businesscoach #leadership #marketing #speaking

  • Speed Networking and More

    Launch yourself into a new circle of people waiting to talk to you.

    Speed networking programs are showing up all around the world. These events tend to be a fun, exciting and effective way to make a lot of initial connections in a very different environment from the standard business networking meetings.

    Speed networking programs generally involve people meeting each other one at a time for a short interval and then moving on to the next person in line. They are fairly structured in the way people queue up to meet. For example, one variation is to have two concentric circles of people. The individuals sit across from one another and after the set time period–generally one minute–the outside circle of people gets up and moves in one direction around the circle until everyone has met.

    I have referred new business owners to attend a speed networking event for a few specific reasons.

    1. You will get to meet fellow business owners in a fun environment. Those other people may be your customer, vendor, future partner, or a great referral partnership.
    2. You get to really practice your elevator pitch in an environment, where that is all you have time to do. Go there with 2 different elevator pitches and see how the person on the other side of the table reacts. If they lean in and are engaged-you have a winner. If they lean back, cross their arms, and/or have that “what are you talking about” look on their face-you need to work on your elevator pitch.

    The potential downside to speed networking is if someone thinks this is “all” they have to do to network effectively. The key to making speed networking work, is to take those contacts and develop them over time into “credible” relationships that lead to “profitable” referral partners.

    Some people have likened speed networking to speed dating. While there are clearly some similarities, there is also a subtle but significant difference. Speed dating is done to eliminate potential suitors and keep from wasting time on people with whom you share no common interests and no mutual attraction. The presumption is that you are going to follow up with only the ones you connect with during the exercise.

    Speed Networking is not to eliminate potential referral sources, but to nurture the relationships that come out of the event, even if you feel you have nothing in common.

    So how do you go about participating in a speed networking exercise with the proper focus to make the most of your time? Here are several points to consider:

    1. Start with the end in mind. You’re not there to bag the big one. You’re not there to eliminate referral sources or referral partners. You’re there to find ways to connect with each and every person you have the opportunity to sit (or stand) in front of for that one- to two-minute period.

    While you will not, realistically, become close friends with every person in the room, you’re increasing your potential referral sources by meeting many people in one setting.  HINT: Go into the networking with the goal of really connecting with other participants.

    2. Conduct the exercise as a mini interview. Think in terms of what you can find out about the person you’re meeting. That’ll allow you to help further the goals of that individual. Forget about mining their database or trying to determine who they know to further your goals. In working to mutually benefit one another, ask questions that’ll clarify where and how you can best help your new referral source. HINT: If you have time left, have some basic questions you can ask the other person to get to know them better.

    3. Make notes during the exercise. If you’re not provided some type of contact card on which you can jot notes while in the exercise, be sure to use your own pad of paper to write down the information you discover. Be sure to note the person’s interests and goals you could help achieve. HINT: Bring mini post-it-notes, put your notes on it, then adhere it on the back of their business card with my notes on it.

    4. Follow up. If you don’t follow up with those you meet during the speed networking exercise, you will only have succeeded in wasting your time–which is exactly what you were trying to avoid by attending the event in the first place. Collect the business cards of each person you sit with during the exercise. The magic happens after the exercise, in the weeks and months to come.  HINT: You are NOT there to collect business cards, then spam everyone. Please do not do this. Word will get out about you really fast.

    Set appointments with each person, not to convince them they need your product, but with the intention of becoming better acquainted, finding out what their needs are and how you can positively impact their lives. You’ll realize the reason you went to the speed networking exercise in the first place: to develop more referral business.

    I believe speed networking can work if it’s done the right way. It can be a fun, energetic and dynamic way to further your own goals of having a thriving, successful word-of-mouth-based business.  Give it a try.

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    Steve Feld, MBA, provides training and business performance coaching to business owners, professionals and executives. Steve also speaks to organizations, conducts workshops and training.  Focusing on the lead generation and revenue creation to get growth results for the business. Contact Steve today to see how he can assist you grow your business, [email protected], or www.bizcoachsteve.com. He is in the business of growing businesses. Need a speaker, contact Steve today. #bizcoachstevef #entrepreneur #smallbusiness #business #smallbiz #coaching #businessowner #businesscoach #leadership #marketing #speaking