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Archive for business operations

Business Mistakes That Can KILL Your Business

business mistakesThere are 5 big business mistakes you can make that will kill a deal and possibly even do in your business.

When you learn what top business mistakes are you are better able to avoid them and prevent them from happening in your business.  The top five business mistakes that we see are:

  1. Not meeting the client’s expectations

  2. Mishandling a client crisis

  3. Taking on more than you can handle

  4. Putting all your eggs in one basket

  5. Up cash creek without a paddle

Any one or combination of these can not only kill the partnership, but have the ability to take down your company as well. We’re going to take a bit of time to talk about each
one of these, in this lesson we’ll cover the first two.

BIG Business Mistake #1: Not Meeting Client’s Expectations

It’s essential you give your client’s exactly what you promised during the negotiation portion of your relationship. If an event does happen where there is no way to meet the
client’s expectations, not only do you have to find a way to fix the situation, but you also have to find out where it all went wrong.

A couple of things could have contributed to this problem:

  1. Bad salesmanship. This could mean the salesperson was trying too hard to seal
    the deal and didn’t listen to the client’s needs.
  2. Lack of communication. This breakdown occurs between the salesperson and
    your operations department.

In order to avoid these mistakes, you need to put a clear plan of action into place that all of your sales staff needs to follow:

  • Think before you speak.
  • Give yourself a break.
  • Perfect your process.
  • Pre-format over-deliverables.
  • Stay hands-on throughout the entire process.
  • Define success.

BIG Business Mistake #2: Mishandling a Client Crisis

Crisis’ will happen, but how you respond and fix them will define your company and interaction with your clients’. You need to respond quickly and effectively. This will help
you gain even more trust and confidence from your client.

Some simple tips can help you deal with any client crisis:

  • Take responsibility and apologize no matter who is at fault.
  • Act swiftly and effectively.
  • Step in and take control of the situation.
  • Never point fingers or place blame.
  • Stay in constant communication with your client.
  • Stay calm throughout the situation.
  • Keep your eye on the ball.

Now, that you know the top two mistakes you can make to kill a big fish deal, you’ll know better how to avoid making these mistakes in the first place and know how to put
a plan of action into place in case of a crisis.

If you need help with any of this, try our FREE Mini Marketing Makeover to get an overview on your marketing strategies and access to real consulting help.

Next time we’ll talk about the 3rd and 4th killer business mistakes you can make in working with clients and additional strategies to avoid and prevent them in your business.

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.

BizologyBuzz Newsletter

Where Have I Been? BizologyBuzz Newsletter Readers Wonder…

Well, the short answer is right here!!  The long answer is that the over the summer my hosting company deleted my account and ALL of my internet real estate with it.  15 websites in all.  And, my email list of over 10,000.  After several weeks of trying to reach them and work with them I secured a ONE year old back up of my business.  Fortunately, for my main sites I had more recent backups and was able to restore sites and rebuild others.

You will see that all of these sites are back up and running!

A few others are up but they are behind where they were. So I will keep them to myself right now…
In rebuilding a business it gives you an opportunity to reassess where you are at and WHAT you REALLY want to be doing.  Two great things have come out of that. Actually more, but two for right now.
One has been the launch of www.CompassRoseCycling.com.  I am a passionate cyclist, having biked across the country several years ago.  I love the open road and this year spent many summer days cycling with my two girls (7 and 9 years old)  We ride a tandem bike and attach a third wheel to it so all three of us can ride. It is a 100% workout.  Compass Rose Cycling has two programs right now to get adults “back on the road again”.  One for women and the other co-ed.  They are starting off slow but I am sure that in the spring they will both be rolling!
The second thing to come out of a tough month over the summer was the development of a unique business building group called the Collaborative Marketing Network.  It has its first information meeting on the 25th of October.  For many of you it is too far to work for you, but for others, I recommend taking a look at it.  www.CollaborativeMarketingNetwork.com
Once it is up and running I might develop an online version that is more global in nature.
So, while you might not have had a business crash as I did, I recommend taking a look at what you are doing, reassessing what your passion is and what is important and make changes based on your reflection.
I learned MANY lessons through this as well!
1.  Back up your own stuff.  EVEN if your hosting company says they do weekly and monthly backups they are not necessarily available to you.
2.  Be sure to check out the vendors that you work with and have good relationships with them.
3.  Take time to reflect on your business and your ventures regularly and make sure they are in alignment with you and your vision and goals.
The last thing I want to let you know is that I am moving this email list.  I can no longer host it myself and manage it in this way.  I have set up a new list service with a provider called MailChimp.  But what is really important for you to do is to sign up for that list.  You can do that at:
www.ResourcesforEntrepreneurs.com — that is my small business list.  Focused on business development topics.
IF, you are a business leader that wants more leadership development — then we have the Real World Leadership site filled with tips, strategies, videos and more.  Pick up our free leadership report there and you will hear about upcoming events, receive periodic reports and articles:  www.RealWorldLeadershipInstitute.com
I will send out a couple of additional reminders about the move!!
All the best,
Donna
Donna Price
Compass Rose Consulting, LLC
Newton, NJ
973-500-8094
Take action today to grow your business.  One step at a time that is consistent will change your business success.

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.

Create the Lifestyle You Want

What is more important than money? Your health, happiness and the time you have to spend with your loved ones and lifestyle!

Creating your ideal lifestyle is not easy.  But, outsourcing some of the everyday tasks that consume you and your time can be a strategy for achieving just that — health, happiness and your desired lifestyle.

During ‘Outsource Live!’ Daven Michaels is not only going to help you create a plan to make more money, he is also going to show you how to create the LIFESTYLE you desire.

I would like to introduce you to a good friend of mine Daven Michaels, CEO of 123Employee. Daven has helped thousands of small business owners work less and make more money. He teaches from experience, he has turned multiple passions into million dollar businesses and today he run’s his multi-million dollar outsourcing business and manages over 350 employees… from his laptop and cell phone!

We allow ourselves to get so busy, trying to make money, we can easily loose site of that which is most important to us. During ‘Outsource Live!’ Daven will help you create your new wealth and freedom LIFESTYLE plan, achieved through learning how to improve your marketing and delegating to others.

The event is usually $1997, but if you use this special code:

Early Bird

you can attend for ONLY $97, but you must use the code!

Click here to learn more

Note: Daven is offering you a 100% no quibble satisfaction money back guarantee!

Daven is doing incredible things with people and their businesses.  Learn how he can help your business.

All the best,

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.

Should You Outsource Your E-Book?

Why You Should Outsource Your Internet Niche Ebook

Unless you are an accomplished writer yourself, outsourcing your Internet niche ebook is an absolute necessity. Most people have the common sense to hire an electrician when they are having electrical problems in their home and a plumber when they are having plumbing problems but these same people often make the mistake of thinking they do not need to hire a professional to write their ebook. This article will discuss the benefits of outsourcing your ebook to a professional and will identify some of the pitfalls of not outsourcing this work to a professional.

Why Paying for a Professional Written Ebook is Important

Those who are orchestrating an Internet niche marketing campaign should realize the importance of hiring a professional writer to write their ebook. An ebook is often used in this capacity to serve as a promotional tool for the other elements of the niche marketing campaign including the website.

The ebook you publish will be the first impression many form regarding your niche campaign. You want this first impression to be a positive one so it is important for your ebook to be incredibly polished, free of spelling and grammatical errors, accurate, informative, interesting and written in an appropriate tone. An accomplished writer can meet all of these needs while creating an ebook that is well researched and provides all the information you requested in the outline.

Benefits of Outsourcing Your Ebook

There are many benefits to outsourcing your ebook. The most obvious benefit is that, provided you choose a well qualified candidate, your ebook is likely to turn out looking extremely professional. This is important because a high quality ebook is much more likely to persuade readers to investigate the subject further by visiting the niche website mentioned in the ebook.

Another benefit to outsourcing your ebook to an accomplished writer is it will greatly reduce your own workload. Attempting to write the ebook on your own would be a mistake if you are not a skilled writer but there are still many marketers who go this route. They often spend much longer than anticipated on the process of writing their ebook and wind up with sub par results. Outsourcing the ebook not only creates much better results but also relieves the marketer of the pressure of trying to write the book themselves.

Pitfalls of Not Outsourcing Your Ebook

There are some significant pitfalls which often result from not outsourcing an ebook. One of the most common problems that occur when the ebook is written by an amateur is the ebook ends up sounding too much like a sales pitch. Most Internet niche ebooks are written for the purpose of promoting the niche but the promotional aspects of the ebook are usually rather subtle. Instead the ebook is written with an authoritative tone and presented as an ebook providing the reader with knowledge on a particular niche subject. The ebook will, however, likely include persuasive undertones directing readers to particular websites for further information.

Another pitfall of not outsourcing an ebook is a final product that is poorly written with glaring grammatical errors and other mistakes. These mistakes will likely be evident to even the most casual reader of the ebook. When these errors are easily detected, it is not likely the reader will put much faith in the message being conveyed by the ebook. They will likely assume the carelessness in writing the ebook carried over into the research process therefore, tainting the information presented in the ebook.

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.

Outsourcing for Home Based Businesses and Office Based Businesses

Comparing In-house Work and Outsourced Work

Is there validity to comparing in-house work and outsourced work? Of course there is but the more pertinent question is how you make these comparisons. Those who are involved in the Internet niche marketing industry realize a large portion of their success is related to their ability to constantly evaluate their niche markets and determine what is working and what is not working. They examine and test aesthetical details such as font size and colors along with more technical elements such as coding and search engine optimization (SEO) strategies. Since these savvy entrepreneurs are already constantly evaluating and making minor adjustments it is logical that they should also make comparisons relating to the work done in-house and the work that is outsourced. They should evaluate the work in terms of finances and in terms of quality.

The Cost of Outsourcing vs. Keeping Work in House

As with any business the bottom line in Internet niche marketing is often financial. There is no clear cut answer as to whether particular tasks will be completed at a lower cost in-house or through outsourcing. This will depend on a number of factors. For example the qualifications of the in-house staff is one of the major factors in the equation. The availability of the in-house staff members should also be considered.

If there are members of in-house staff members capable of completing the task and available to do so, it may be more affordable to keep the work in-house. However, outsourcing does reduce labor costs but often comes with a higher hourly rate as well as costs required to advertise the position and interview candidates. These costs will vary from case to case so it is important to always consider outsourcing as an option when possible.

The Quality of Outsourcing vs. Keeping Work in House

Comparing the quality of outsourcing versus in-house work is even more difficult. Again, there is no set answer for which is typically higher quality. In a situation where experts are required to complete a task it may be better to outsource the task because the in-house staff is not qualified to complete the task. In this case the quality of the work produced by the contractor will not only be of higher quality but will also likely be completed quicker and more efficiently.

However, in cases where the in-house staff and the contractor are equally qualified the in-house staff may hold a slight advantage because they are more familiar with company policies and procedures. In this case the in-house may be more efficient because they are already familiar with the standard procedures. This becomes less of an issue in cases where work is outsourced to the same individual regularly.

The other factor to consider when comparing outsourced work to in-house work is the work ethic of the individual completing the assignments. Two equally qualified employees given the same assignment, schedule and pertinent information may not produce the exact same results. This is because one employee may have a more diligent work ethic and a more keen attention to detail. In this scenario the more diligent employee will likely produce work of a higher quality. As this relates to personality rather than whether or not the work is completed in-house or outsourced it makes it even more difficult to compare in-house work to outsourced work.

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.

5 Quick and Easy Things to Outsource

5 Easy to Outsource Tasks for Online Businesses

When you are looking to save yourself time and to make sure that your online business is running to the best of its ability, you will find that one of the things that you should look at is outsourcing. You may consider outsourcing to be something that only huge companies do, but youll find that online business and outsourcing are a perfect fit. Because online business calls for a wide variety of skills and talents, no one person can or should tackle them all on their own. There are several tasks that can easily and, more importantly, beneficially be outsourced elsewhere. Here are just a few of them.

Outsource: Writing

For many people, writing is not a strong point in their business. Therefore, putting well written, action provoking content on their website is a difficult task. However, this is NOT an area to be skimped upon when it comes to online business. The content on a website has a direct effect on search engine rankings. Copy that is neglected will show when it comes to a business bottom line. If you find it difficult to get the results you are looking for with your writing, consider outsourcing it to a qualified writer. You will find that there are a ton of freelancers who can help you get the content you want, to help generate sales from your visitors.

Recommendation: www.Shelancers.com/directory

Outsource: Website Design

If you are running an online business, you need to put as much time and effort into your website as you would a brick and mortar store. Getting an attractive, easy to use website is not easy and you will find that there are many professional website designers who are looking to wow you with their expertise. This is something that is well-worth the money spent. You’ll be able to rest assured that your website design is attractive and easy to navigate, which is always a plus for turning visitors into buyers.

Outsource: Search Engine Optimization

If you run an online business, you already know how important search engine traffic is to your success. In order to rank high for your keywords and phrases, hiring a search engine optimization expert or link-building service will help to put you on the map. Search engine optimization, when done correctly, will increase the traffic to your website and is an easy way to get your business name out there for the entire world to see.

Outsource: Recommended Service:

http:easyplr.comvana.htm – Sit back and let this service write blog posts on their network of blogs and link to your websites.

http:easyplr.comkings.htm – This new service will create a youtube video about your website, submit your blog to RSS directories, and handle your social media for you, while you focus on other parts of your business.

Outsource: Customer Support

For those who sell a product, whether its candles or ebooks, more than likely you will need customer support. Outsourcing is a great deal easier than putting together a full support staff, training them, and then getting them set up with equipment. When outsourcing customer support, you will be making the most out of your time and ensuring that your customers get the most out of their products.

Outsource: Blogging

If you’ve been online for any amount of time, you already know that Web 2.0 and all that goes with it are important parts of your business. One way to add value to your business is to create a blog. You can easily find a qualified contractor to help you update the blog and provide ghostwritten blog posts for you. A great way to keep in touch with customers, clients and others interested in your business, outsourcing your blog tasks will keep you from overextending yourself.

Outsourcing is something that every business owner, whether large or small, can do to help make their business more successful. Put the work in the hands of the experts and you can focus on the things that you enjoy and come easier to you.

These are only a few of the many business activities that you can outsource.

Check out www.OutsourceWeekly.com for a step-by-step guide to get started.

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.

Outsourcing is Smartsourcing

Outsourced Not Outsmarted

There are many who tout the advantages of outsourcing as essentially a little known secret to success. There are certainly a number of distinct advantages to the process of outsourcing. Some of the most notable advantages include cost reductions, increased possibility for profit and the existence of a larger workforce without maintaining a staff of salaried employees. All of these incredible advantages may make outsourcing seem as though it is an ideal resource in all situations but this is not true. There are certain precautions which should be taken when outsourcing a project. It is important to be mindful of these precautions when outsourcing a project to ensure the project runs smoothly.

Verify Candidate Qualifications When Outsourcing

When outsourcing a task or project to an individual, care should be taken to screen all applicants carefully before deciding to outsource the work. This is important because you want to be sure to outsource the work to a qualified individual. Awarding a project to an unqualified individual can be a costly mistake if they turn in sub par work at the conclusion of the project. It can also be costly if it results in unnecessary delays or setbacks as a result of the lack of qualifications.

One way to avoid being outsmarted by fancy resumes hyping the accomplishments of an individual is to verify all of the information on the resume before awarding the project. This may entail contacting previous employers as well as references to determine the capabilities and work ethic of the individual. Taking the time to verify the information on the resume can help to ensure the individual you outsource the work to is truly qualified to complete the project.

Outline Outsourced Project Requirements Carefully

When outsourcing a project it is important to be very clear in outlining the project requirements. This is important so both the client and the independent contractor understand all of the requirements of the outsourced project. Preparing contract documents stating the exact project details and compensation to be provided is a good idea as well. Taking this extra precaution will ensure the client does not have to pay fees until the contract specifications are met. A contract can also be helpful if disputes arise and mediation is required to resolve the conflicts.

Additionally, it is wise to include information regarding the required deliverables in the contract documents. This should include the exact end product which should be submitted. In this portion of the document the client can specify information regarding whether they require the project submitted as a hard copy of the completed project, a soft copy of the completed project or both.

Schedule Periodic Milestone Meetings

Regularly scheduled progress status meetings are very important when a project is outsourced. These meetings should be scheduled often enough to ensure the project does not fall too far behind schedule during any one phase of the project. These meetings can be helpful to both the client and the independent contractor. The client will benefit because they will remain in control of the project and can intervene if the independent contractor is heading in the wrong direction with the project. These meetings are also beneficial to the independent contractor because they can prevent him from being caught by surprise at the conclusion of the project if he misinterpreted the project requirements.

Donna Price is a speaker, trainer, author and business and marketing strategist. She founded her company, Compass Rose Consulting in 2003 after a 20+ year career in non-profit management and administration. Donna’s history is impressive. She goes beyond the world of work as an adventurer and brings bold living lessons to each of her presentations. Donna has a unique inspirational story – of cycling across the country and how you take wild ideas and make them happen. She is the author of several books including; Yes! Marketing Works, Launching Your Dreams and Employee Coaching. Donna Price works with business leaders, teams and individuals to get them moving, improve their bottom line results through effective strategy, leadership, marketing and communication.