I just read a great article on the use of color (in life and in business) and what impact it has on our decisions and moods. I've posted about this before, and this article is definitely another to be added to the archives!
As someone with synesthesia (I talk more about it here), color plays a huge role in how I associate many things. It's a big inspiration, as well as a guide for me. Probably a little weird, but fun!
Enjoy the article!
Showing posts with label business identity. Show all posts
Showing posts with label business identity. Show all posts
Thursday, October 23, 2008
Saturday, October 18, 2008
Are you "Joe the Plumber"?
It's an understatement to say people have been discussing "Joe the Plumber" this week in regards to United States politics, but it's not so much the tax plan references that have caught my interest.
What has surprised me most about "Joe" is that it seems a lot of people discussing him aren't aware of what small business people are capable of. And that needs to change!
(Note: whether the real Joe is actually named Joe, is a licensed plumber, or has an extra toe on each foot may be relevant in the candidate arena, but for changing perceptions about entrepreneurs, it's not our issue! My goal today isn't to sway a vote to either side, but to look at our own businesses in a positive light.)
For the sake of my point today, let's look at "Joe" as an archetype for people who may be looking to buy the business they currently work in, or start a business of their own.
I've seen people reference that $250K US is far more than what a plumber can make in a year. Is it?
If a plumber (or the owner of a plumbing company, who may have a background in business, finance, or underwater basket weaving for all we know) runs a staff of five working plumbers, and each perform two $500 jobs per day, five days a week, they generate $25K in revenue. Multiply that by the year's 52 weeks, and we have $1.3M. Remove from that the cost of goods, taxes (income and property), upkeep, vehicles, licensing, wages, and healthcare, and, just by my rough estimates (plumbing is clearly not my field!), the business could easily generate $250K+.
This also means that the worth of the business, if purchasing it, would be far greater than that! There's a lot that goes into valuation, as pointed out by this article, and you should either know what you're basing your numbers on, or be prepared to hire or barter with a professional who does.
My main point is that, as small business owners (whether plumber, voice artist, CPA, mechanic, or chef), we shouldn't let ourselves be marginalized in the minds of our public! Ask yourself, "How can I educate people as to the potential that lies within the American Dream (which isn't just for America--this is a shout out to all business owners in the global marketplace!)?". Inpsiring the children of today will create the entrepreneurs of tomorrow, and I'm glad that at least "Joe the Plumber" is an opportunity to raise awareness to that fact!
What has surprised me most about "Joe" is that it seems a lot of people discussing him aren't aware of what small business people are capable of. And that needs to change!
(Note: whether the real Joe is actually named Joe, is a licensed plumber, or has an extra toe on each foot may be relevant in the candidate arena, but for changing perceptions about entrepreneurs, it's not our issue! My goal today isn't to sway a vote to either side, but to look at our own businesses in a positive light.)
For the sake of my point today, let's look at "Joe" as an archetype for people who may be looking to buy the business they currently work in, or start a business of their own.
I've seen people reference that $250K US is far more than what a plumber can make in a year. Is it?
If a plumber (or the owner of a plumbing company, who may have a background in business, finance, or underwater basket weaving for all we know) runs a staff of five working plumbers, and each perform two $500 jobs per day, five days a week, they generate $25K in revenue. Multiply that by the year's 52 weeks, and we have $1.3M. Remove from that the cost of goods, taxes (income and property), upkeep, vehicles, licensing, wages, and healthcare, and, just by my rough estimates (plumbing is clearly not my field!), the business could easily generate $250K+.
This also means that the worth of the business, if purchasing it, would be far greater than that! There's a lot that goes into valuation, as pointed out by this article, and you should either know what you're basing your numbers on, or be prepared to hire or barter with a professional who does.
My main point is that, as small business owners (whether plumber, voice artist, CPA, mechanic, or chef), we shouldn't let ourselves be marginalized in the minds of our public! Ask yourself, "How can I educate people as to the potential that lies within the American Dream (which isn't just for America--this is a shout out to all business owners in the global marketplace!)?". Inpsiring the children of today will create the entrepreneurs of tomorrow, and I'm glad that at least "Joe the Plumber" is an opportunity to raise awareness to that fact!
Tuesday, July 08, 2008
Are you qualifying your leads, or are they qualifying you?
When you generate leads for your business, the logical middle step before converting a sale for the product or service you provide is the 'qualification' stage, ie, finding out if you're a good match for each other! You got their attention, but do they want what you offer?
In the studio business, we each have an 'ideal client' that has the working style we want and need in order to perform to the highest goal-meeting ability. But so many times, especially in businesses that differentiate themselves on price, it's the CLIENT that does the qualifying, not the business.
Let me explain: you tell a prospect what you can provide for them in a proposal. They come back with a completely different idea of what you'll provide in a follow-up (usually based on the cost of your service).
At this point, do you renegotiate with their follow-up in mind, setting your goals aside and grasping on to whatever they want you to do as your guide? If so, you've let THEM qualify YOU.
If instead, you either go back to negotiations with your original goals in mind, but taking into account some of their needs in their follow-up, or you just say, "Thank you, but we're not right for each other", then YOU'VE qualified (or disqualified) THEM.
You have to be the captain of your own ship in business, and taking time with clients who aren't your ideal takes time away from generating, qualifying, and converting those that are. Make sure your marketing and communication language always maintains the integrity of your business goals, and you'll spend far less time courting the ones that aren't right for you.
Start learning how to do this (and so much more), by reading The Answer.
In the studio business, we each have an 'ideal client' that has the working style we want and need in order to perform to the highest goal-meeting ability. But so many times, especially in businesses that differentiate themselves on price, it's the CLIENT that does the qualifying, not the business.
Let me explain: you tell a prospect what you can provide for them in a proposal. They come back with a completely different idea of what you'll provide in a follow-up (usually based on the cost of your service).
At this point, do you renegotiate with their follow-up in mind, setting your goals aside and grasping on to whatever they want you to do as your guide? If so, you've let THEM qualify YOU.
If instead, you either go back to negotiations with your original goals in mind, but taking into account some of their needs in their follow-up, or you just say, "Thank you, but we're not right for each other", then YOU'VE qualified (or disqualified) THEM.
You have to be the captain of your own ship in business, and taking time with clients who aren't your ideal takes time away from generating, qualifying, and converting those that are. Make sure your marketing and communication language always maintains the integrity of your business goals, and you'll spend far less time courting the ones that aren't right for you.
Start learning how to do this (and so much more), by reading The Answer.
Tuesday, March 18, 2008
Great article on business names and slogans!
Just to carry on with the naming topic, I found this in my mailbox from BusinessKnowHow.com. They have several great lists and a great site. Check 'em out!
Monday, March 17, 2008
What's in a name?
Some changes will be happening around the site soon. Actually, the main site will be getting quite a facelift too. Why? Because we had an ugly baby!
Before you get too scared, let me explain. Sometimes a business just doesn't have the right name. It could be ego that misnames us. It could be an attachment to a particular word or phrase that we think we must 'make work'. This "ugly baby" that we love so much doesn't tell our customers or clients who we are, or what we do. It doesn't brand us in the way we need it to. So we have to let it go.
I'm not saying goodbye to Serious Vanity Music in every way (it's a pretty baby for other facets of my business), but soon, you will get a peek at Perfect Audio Solutions, and I think you'll understand why this is a much better plan (for us, AND our clients!).
The 100% Organic Podcast isn't going anywhere, though! We love bringing the all natural truth, and plan to keep doing so for many podcasts to come!
For more on finding your real business purpose, check out Bob Souer's recent blog on the subject!
Before you get too scared, let me explain. Sometimes a business just doesn't have the right name. It could be ego that misnames us. It could be an attachment to a particular word or phrase that we think we must 'make work'. This "ugly baby" that we love so much doesn't tell our customers or clients who we are, or what we do. It doesn't brand us in the way we need it to. So we have to let it go.
I'm not saying goodbye to Serious Vanity Music in every way (it's a pretty baby for other facets of my business), but soon, you will get a peek at Perfect Audio Solutions, and I think you'll understand why this is a much better plan (for us, AND our clients!).
The 100% Organic Podcast isn't going anywhere, though! We love bringing the all natural truth, and plan to keep doing so for many podcasts to come!
For more on finding your real business purpose, check out Bob Souer's recent blog on the subject!
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