Featured Post
By Marian Banker On February 28, 2010No Comments
One of the phenomena I’ve observed in producing and hosting the Small Business Summit, over the past 5 years is the business community that has built up around this activity. We have a number of loyal sponsors who have come back year after year to support our efforts and take advantage of the growing small business community interested in business and technology.
At the Summit you get to reconnect with old friends and have the opportunity to make new ones. We have heard time after time that great new business connections are made at the Summit each year. That’s the bottom line value of the Summit. I hope you will join me at this year’s Summit and experience what I’m talking about.
The Summit is an example of an Informal community; people in a variety of tech and other businesses who come together annually to be updated on technology for small business, make new connections and reconnect with old friends.
As I see it there are three types of business communities:
Informal – There is no structure. You come together with others for a variety of business-related purposes. You often see the same people at different events and you begin to gain a level of recognition by your sheer frequency of presence. If you participate in a visible way, your recognition and reputation will grow quickly. Social networks are an informal community.
Formal – These are communities organized for specific purposes, industries, connections and more. The value for most small businesses is being able to use these communities as connections for information, resources, education, networking and growing their business. Here you have the opportunity to contribute in a more structured way. You can serve on committees, help at events, organize programs, etc.
Personal – Then there is your own personal business community; those you do business with, look to for expertise, obtain services and resources from. The more you make yourself available to the members of your community the faster your connections will grow.
Chances are you are a member of all three.
Know why you have become part of any community. Then participate at the right level to fulfill your intent.
And what they say is true; you do get out of your community what you put into it. Participation at an appropriate level for you is where you will get the most value.
NOTE: Stay tuned to learn about the new structure I have created to organize the small business leader community, BizLeaders Network, being introduced at Small Business Summit 2010.
Recent Posts
By Marian Banker On February 17, 2010
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What are the issues that your business is facing as growth has slowed or come to an end? Below are some examples of the issues that could be impacting your growth:
- Marketing in today’s economy – Be more aggressive in your marketing efforts, but also keep your authentic voice and personality in how you market your business.
- Client relations – you may already have a small or large group of loyal clients, but are you continually keeping them interested with loyalty perks? What you are doing now to attract new clients and referrals?
- Customer satisfaction – have you asked your customers or clients how well your service has been lately? If not, then it’s time to consider providing a client or customer survey to measure the results of your services.
- Productivity – are you satisfied with your productivity? Can you see where improvements can be made in the management of your operations?
Some viable solutions that could increase business growth are:
1. Expand your marketing tactics; consider social media marketing. Social media platforms such as Facebook and Twitter make it easy to market your business online. Once you set up your company profile, then it’s a matter of being consistent with your marketing efforts. Having your business marketed this way is very inexpensive and you are reaching a far more expanded audience than just your local area.
2. Evaluate customer satisfaction. Consider distributing a customer or client survey to measure the results of your services. Think about it…a customer or client will not always tell you how their service experience was. By providing them a survey or questionnaire, they can express their ideas or concerns and you can work on improving the areas that need attention in your service offering or offerings.
3. Take steps to improve or increase productivity. A good way to evaluate productivity is to create a log or journal of your activities each day for a couple of weeks. What are the tasks that are a huge waste of time? Eliminate the time-wasters and focus on the priority tasks first and foremost. This makes for a productive day for you and your employees.
I’d love to hear your stories of how you are meeting the challenge of a slow economy.
By Marian Banker On February 14, 2010
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We already know family businesses are complex and challenging at best. David Gage provides some structure to understanding the systems involved.
In Resolving Disputes in Family Businesses, http://www.smallbusinessadvocate.com/small-business-articles/resolving-disputes-in-family-businesses-2227. David says: “a family business (FB) is really three distinct but intricately related systems. Each system—family, ownership, and business—has certain functions it must fulfill, and where these systems overlap, more opportunities are created for their functions to clash or be confused. Untangling them requires a clear view of how each system works on its own, as well as how they mesh together.”
David offers excellent examples of his systems as well as suggestions for resolving family issues.
What family business stories do you have to share?
By Marian Banker On February 3, 2010
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If I’m going to a trade show it’s typically something business-related. Recently my husband and I went to the International Motorcycle Show here in NYC because a friend of ours was exhibiting his custom built bike at the show. Brian’s hobby is building custom bikes that are great to ride and have the high-end look and feel of much more expensive bikes.
His goal is to become the go-to guy for great riding bikes that look high-end but cost less than comparable big-builder bikes. He has amassed 3 barns full of cycle parts and has established an online business selling them. Brian is a true entrepreneur with good marketing savvy.
I couldn’t resist sitting on his bike. It was a beauty and has won awards at smaller shows. The only time I ever rode a motorcycle I was a passenger and I remember burning my leg on the exhaust. But it was a fun ride.
Walking the rest of the show revealed a very wide range of options for bikers, with prices ranging from less than $10,000 to over $50,000, at least what I saw. Bikers and would-be bikers of all ages were kicking the tires and trying the seat. Pre-teens and seniors alike were enjoying jumping on and off everything in the showroom. As would be expected, there were lots of riding and biking “accessories” on exhibit as well.
Here’s one of the exotic bikes we saw.
While I didn’t go to the show for business, I did meet a few people who were clearly in need of some marketing help. I left my card and will follow-up.
What I didn’t see was a company that offered bikes for rent, in the same way you can rent or lease a car. Seems like that would be a good option for those who don’t want to make the investment in a bike, but want to ride now and then. That’s an especially attractive option in this economy. Sooner or later someone will latch onto the idea.
For help with branding, revenue generating strategies or just helping you make a critical business decision, I’m always eager to support and guide you. Be in touch anytime.
