Challenges of the 60+ Entrepreneur
Our theme for this month’s Morning Café was “challenges of the 60+ entrepreneur”. Following are some of what was expressed at the meeting.
- The need for new ways to use assets, perhaps even moving into other areas or markets
- How to build a business using old assets in a new way
- Happy to be working in a non-corporate environment
- The desire or need to spend less time on business – more on personal
- Interest in additional resources for those 60+
- The desire to do something that would be a meaningful contribution to others.
We also opened the subject of “exit strategy”, both in terms of business and personal. At this point in life, it’s not just about building or maintaining a business, it’s also about how you want to eventually leave the business…and your life. Lots to consider, so that will be the theme for the next Morning Café on Monday, July 11th, 10 – 11:30 a.m. An invitation will be going out later this month, but you can reserve your seat now by sending an RSVP.
This month’s Evening Café is scheduled for Thursday, June 23rd, 7 – 8:30 (new time) and will be held at Irene Ankner’s loft, which is located at 123 E. 54th St., #2C (corner of Lex). Our theme for this meeting is “body image”. This is where we’ll talk about all those face and body changes we’re seeing that we’re not liking too much. If you’d like to attend, it’s a good idea to let me know now. This one will be popular.
Before I go I’m sharing a few resources and groups I’m aware of that you might like to know about.
Transition Network, http://www.thetransitionnetwork.org/Default.aspx
Encore (careers) http://www.encore.org/
Seniors for Living, http://www.seniorsforliving.com/?gclid=CKjBxtbCpKkCFQbc4Aodvl4DtA&
Vibrant Nation, http://www.vibrantnation.com/
If you know of any others please forward to me and I will pass them along.
Information Overload: How to Cut Through the Clutter
Two or three years ago you could create a marketing campaign, send out a series of e-mails and expect a reasonable response rate. Things have changed. We’ve hit information overload and we just don’t have time to read and respond to everything we’d like.
Information overload has become a chronic problem, so if you want to reach your target you must cut through the clutter. Something has to really grab me and be super easy or I’ll just delete it. And that seems to be true for many people I speak with. So how do you move beyond information overload to reach those who will want to respond to your outreach?
Here are some strategies to consider.
Create a Compelling Message
What are the most urgent issues your ideal customer is facing? You can ask when someone signs up for your mailing list, downloads an online item or purchases something from you. Don’t just get their name and e-mail address, send an autoresponder asking them to send you a reply. Keep it simple and as easy as possible.
Ask people you meet at networking and events what are their urgent issues. Create products and services that address the most common ones. Then create your message using keywords that have surfaced during your research.
Make It Super Easy
The other day I wanted to sign up for an event and when I looked for the time and how to sign up I couldn’t find it right away. Within 20 seconds I was gone. I just wouldn’t take the time to wade through the content to find it…and neither will your prospects.
I offer the One Page Marketing Plan, which makes it super easy to create your marketing plan. It’s a step by step do-it-yourself system with everything you need to not only create your plan, but use it as well. Simple, step by step is what you want.
Offer to Do It For Them
But some people would rather have me do it for them. Obviously I will need information from them, but once I have that I can apply my own techniques to create their plan. It costs more, of course, but for those who want a strategic plan to follow, my consulting services are perfect for them.
People want results, but they often don’t want to or don’t have time to do the work to get them. If you can do it for them or at least partially do it for them, you’ve got a strong selling point.
Make More Direct Connections
I have found that I’m much more successful when I reach out directly, one-to-one to people who are in my network. These are people who have purchased something from me in the past, have participated in an event I hosted, or are a prospect I’ve had a meaningful dialogue with.
The telephone is still a wonderful business tool. What I’ve learned works best when you’re reaching out to someone you haven’t communicated with recently is to make a phone call telling the person you’re sending them an e-mail. On the call or in the voicemail tell them what it’s about briefly, making it as compelling as possible so they will read the e-mail. Otherwise it may just get deleted without being opened.
Leverage Social Media
Business is still built on relationships. It’s just that the way in which those relationships are managed has morphed somewhat with the advent of information overload. The social media offers great tools, but be careful, because they can add to the sense of overload. Be selective and consistent and people will begin to know, like and trust you. I’m much more likely to respond to something from someone I know rather than someone I don’t know.
Newsletters (like this one) are still a viable option for staying in touch, but the open rate has dropped. So I need to apply the other options as well.
Apply as many of these strategies as you can and you’ll be ahead of your competition.
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Want to work together with other entrepreneurs on things like this? Join my new CEO Roundtable, a one-hour small group tele-session (4 maximum). Bring your issues and your concerns to the group and together we’ll offer you the benefit of my coaching and the group’s knowledge and experience. Next group starts Tuesday, May 25th at 1 p.m. RSVP to marian@primestrategies.com to discuss and see if it’s a good fit for you. Coaching at a fraction of the cost of individual sessions.
What is a Strategy?
Wikipedia defines strategy as “A long term plan of action designed to achieve a particular goal, most often “winning.” Strategy is differentiated from tactics or immediate actions with resources at hand by its nature of being extensively premeditated, and often practically rehearsed. Strategies are used to make the problem easier to understand and solve.”
My definition is a bit simpler, and hopefully, easier to understand. I consider developing a strategy as the “thinking” part of the process. It’s where you gather all the pertinent information, analyze it, and then make “informed” decisions based on what you learned. A strategy is an informed decision that provides a framework for actions.
From “How to Create a Marketing Strategy That Delivers”.