Are you frustrated by the lack of growth in your firm, or the effort required to squeeze any up-tick in performance? Are inadequate policies and procedures a root cause? To find out, take this simple self assessment to see if this may be inhibiting real growth at your company.

Q. Can you take an extended vacation without the company falling apart?

A. If you answered “no” then you have a job and not a business. A business must have a system of standard operating procedures to ensure the work gets done correctly, even in your absence.

Q. Can your company handle a ramp-up in sales and production?

A. Hidden inefficiencies are often revealed when sales and production increase. If low turns on accounts receivable and inventory, long sales or production cycles starve your cash flow, then something is wrong. Your policies and procedures should document cycle times for your critical operating metrics.

Q. Can you effectively add more people to your organization?

A. Hiring people is simple compared to ensuring they know what to do and have the resources to accomplish their job. Policies and procedures provide the framework for a management system to oversee new employees and communicate who does what by when.

Q. Does opening a new branch office, plant or facility create havoc?

A. Expanding your operations to new locations will test the limits of your policies and procedures. Did you know that franchises are four times more likely to survive than a start-up primarily because they have a well defined operations manual? Are you running your business like franchises run theirs?

Q. Is your family happy with your work life??A. If your business demands too many hours, too much stress, and too little quality time with your family and friends, then you should do something about it. A well defined system of standard operating procedures can allow you take a vacation without worry, increase sales with ease, add people to fill demand, and open new offices without trouble. Then your family will be the happiest on the block.

What is the definition of a leads exchange and how does it differ from other groups?

So what is a leads exchange? A leads exchange comes in several flavors; first the exchange usually has exclusivity restrictions so that you remain loyal to only one group. This way the printer and the chiropractor that belong to this group will only think of you for a particular service or product. They will essentially promote your business as part of the membership requirement: to generate leads for others as well as get leads in exchange. These types of groups are plentiful and can work for you or against you. If you have done your homework and the group is active in the areas that you would like to be known, then this type of group will work well for you. If you work in an unusual business, it may be more difficult for others to find leads for you. This type of group will expect that you have defined your best customer and have given them the tools they need to seek out business in that area.

The best way to work this type of group is to generate many leads for others in the group. Once they know you are out to make the most of this, they will bend over backwards to ensure that you get enough leads so that you will continue to be an outstanding member of the group. They know that if you are dissatisfied, it is likely you will look elsewhere and take your great lead generation ability to another rival group. The more you give, the more you will get in this environment.

Leads exchanges provide many opportunities, but there is also some disadvantages to belonging. If you are focusing on your own business, then generating leads for others is a definite distracter. This can work to your disadvantage if generating leads for others is your only way to get leads from others. If you go about generating your own leads, you may uncover something that can be fulfilled by another member’s business. The important thing to remember is that there is always a cost to joining a group.

Why the business card grab is not why you are there?
So how do you obtain the card and show interest that gains confidence?

One of the things I am also always asked is, “How do you collect cards?” and “What do you do with them when you get them back to the office?” What really happens when you collect business cards? Often they get put into a pocket with many others. Have you ever collected cards to later find out that you have no idea who the person was? This happens all the time. It is probably better to pick a few good leads rather than collect everything (sometimes that is difficult to do if people trade cards with you). Choose one pocket for the timely leads and carry post it notes to add information.

It is quite easy to cull the cads as you gather them. First, I only collect cards from people that I can either do business with, form an alliance with, or simply become a referral for them. Sounds easy, but the trick is to be able to ferret out who these people are. I also take notes on the back of the card or on a pad of sticky notes and attach it to the card so that I do not forget who they are and what services they provide. I even try to put faces to the cards by describing them on the sticky notes. These people will be amazed that you can remember them the next time you meet and they will then want to talk to you.

Some people look at their stack of cards the next day, or two days later is even worse, and they are bewildered: they can’t remember who was who. Cards with simply black and white designs can look very alike; it is very important that you try to differentiate the cards you collect. Do this by writing on the back with a Y or N or M for Yes, No, Maybe significance. I then keep my cards in a zip lock bag for each type of card. It makes it easier to follow up. I also make note of the event we attended so as to keep a record of what we were there for. It also helps me to keep track of where the best events for attracting business are. If you are starting out cold, then keeping records will be very important - just remember not to collect every card on the floor.

”But this won’t work” said Steve. “I’ve tried it in the past and had no response.” Does this sound familiar? My newer clients often resist implementing certain strategies based on past experiences. However, I usually find out that it wasn’t the strategy itself – but how it was implemented that caused the dismal results.

So whether you are designing a simple flier or developing a plan for a strategic partnership you can increase your chances for success by following these five tips.

1. Develop Your Marketing For Your Potential Clients – Not Yourself.

What looks good to you may not necessarily be appealing to your audience. It’s OK to ask your friends and associates for feedback – but their comments are only relevant if they are members of your target market. Also – just because everyone else advertises in a certain way is not a proof that it works.

2. Provide Answers To These Three Critical Marketing Questions:

QUESTION 1: What’s this about?
Check that your materials immediately and clearly communicate what you offer, who it’s for and what’s the next step you are asking them to take.

QUESTION 2: What’s in it for me?
Don’t make your audience guess about what’s in it for them by leaving this information out or hiding it in the small print at the bottom. Use clear language free of industry jargon. Describe your offering not from the perspective of what you do but in terms of what the clients will receive and how they will be better off as a result of it.

QUESTION 3: Why should I listen to you?
How will you establish credibility with your audience? Include your photo and prominently display your contact info. Present case studies, statistics, endorsements, testimonies from satisfied clients. If people don’t believe you they will not respond to your offer.

3. Always follow the proven A.I.D.A. format.

ATTENTION
Use a powerful headline that grabs attention. Don’t try to be cute, don’t expect that your prospects will take the time look for a deeper meaning in your clever slogans – they won’t. So be as direct and to the point as you possibly can. If you can boil the essence of the benefits you are offering to just one short sentence what would it be? That’s you headline!

INTEREST
Now that you have their attention you must quickly build your prospects interest. Use subtitles, questions and short stories to illustrate and communicate how well you understand their needs. This is a good place to allow your audience to connect with the pain their problems are causing them.

DESIRE
Technical descriptions and numbers provide information but don’t incite action. Your marketing must arouse in your prospects the emotion of desire. Show your audience how a solution is available and achievable to them through doing business with you. Offer powerful performance promise and eliminate the risk of giving you a “try” by a strong guarantee.

ACTION
Without this part your marketing is like a salesman who gives a great presentation but forgets to ask for the order. Give your prospects a compelling reason to take action. Make your offer so incredibly irresistible they simply cannot refuse!

4. Follow up, Follow Up, Follow Up…

Over 80% of all sales are made after the prospect has heard from you at least seven times. Yet a typical business person gives up after just one or two follow up contacts.

Plan your follow-up steps in advance. Use a combination of mail, email, telephone and personal visits as your follow-up strategy. At each opportunity provide your potential clients with value – this way they will forgive you the intrusion.

5. Develop a System

Most entrepreneurs and professionals waste their time and money on one-shot, fragmented promotional tactics. They practice “hit and miss” marketing system; they try a strategy and abandon it before it has a chance to produce any results.

Instead of developing new marketing strategies look for ways to improve the ones your are currently using. When you find a promotional strategy that works for you build a system around it so that you can consistently implement it over and over again.

Following these tips will make all the difference in the world between struggling to get clients and becoming wildly successfully in marketing your services. They are worth investing your best efforts and getting the support you need to implement them effectively.

(c) 2004 Adam M. Urbanski

If you are thinking about franchising your company you might wish to know the statistics on franchisor success, it is not pretty and you need to know the risks. Franchisee Success it is a really good number there on that side of the franchising game, so buying a franchise is not as risky as franchising your current company the success of franchising companies is problematic. Franchising companies have a 5:1 failure rate, mostly due to over regulation and the litigious-ness of the franchising industry.

Here is a thought for you. If we have 400,000 franchise outlets in the US and we have 5:1 failure rate for Franchisors, then aren’t we missing 2 million small business franchised outlets? Not that every business should be automatically successful mind you, but if the failure rates for franchisors are that high, we have a problem with regulators and lawyers. What recessions, all we need to do is get rid of the over regulation and lawsuits and suddenly we are recession proof next business cycle? Here is a story that illustrates what happens to first time franchisors; who go charging off:

http://ezinearticles.com/?Entrepreneurship-Story;-Over-Regulation-in-Franchising-Part-I&id=39358

http://ezinearticles.com/?Entrepreneurship-Story;-Over-Regulation-in-Franchising-Final-Chapter&id=39361

We need to be honest as a nation if we really want success in our economy, we need to address the over regulation problems in franchising and ask ourselves how we can reduce the number of lawsuits, disclosure and failures. Think on it.