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Archive for business strategy

Top Five Strategies for Business Growth

Top 5 Money-Making Action Tasks for Business Growth

Inaction is the death of any business. Without taking regular action every single day to grow your business, inaction will cause your business to become stagnant. Identifying business growth strategies and tactics is critical. Clients will disappear, your sales funnel will be empty, and your revenue will dip to zero in a heartbeat.

Let’s avoid this scenario!  Here are five action tasks that will lead to increased income and business growth.

  1. Email Your Customers Regularly.

Contrary to popular belief, email marketing is NOT dead. Email is the easiest way to stay in touch with customers and prospects to let them know about your new offerings or to recommend an affiliate product which pays you a commission.

  1. Focus on Customer Service.

You will never please everyone but you may as well try your best. Inevitably customers will contact you with questions or refund requests so be prepared to answer these requests in a timely manner. Stick to your rules about refunds but never disregard or disrespect a customer. Negative online reviews are easier to find than positive ones.

  1. Raise Your Rates.

When was your last rate increase? Are your prices competitive with the current market of coaches of your caliber? Can your ideal client still afford your new rates? Be confident that your expertise is worth that new rate and break the new carefully to your current clientele so they don’t jump ship.

  1. Repackage Your Offerings.

Don’t reinvent the wheel. Simply take your older content – books, programs, blog posts, etc. – and create new bundles or create an entirely new product. The information or products should obviously be related in topic to appeal to the most people and be sure to price it accordingly.

  1. Create a New Offering for Old Clients.

People buy from those they know, like, and trust, so open up that old client list and create an exclusive offer just for them. Make the offer sexy, exclusive, and time-sensitive to get quick action results.

How Do I Know What to Offer?

This is an age-old question of many coaches and business owners and it boils down to knowing your target audience. How do they want their information presented? What are the hot topics in their industry? What struggles do they have every day? The simplest way to know what they want is to simply ask them.

Another reason coaches don’t know what to offer is because they don’t have a plan, either for their business or who they want to help. Writing a business plan with action steps is imperative for business growth and I’m presenting a very in-depth workshop on this very topic.

“MAPSS – Marketing Action Planning for Strategic Success guides participants through the process of building a highly usable and effective marketing action plan with four modules filled with actionable steps anyone can implement. At the end of the modules you will have a completed 12-month calendar with all your programs, content, and promotions listed along with the action steps necessary to produce it all. If you want to leverage your business to the next level, follow this link MAPSS

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.

Do YOU Have a Marketing Plan OR Are You JUST Winging It?

Are You Winging it? OR Do you have a solid marketing plan?


Do you have a solid business plan? Marketing plan? Strategic plan? Or are you winging it and hoping?

Creating a plan and sticking to it can improve your results. A plan becomes your blueprint for success. We most often see small businesses winging it, because business development is not their knowledge base. They are wonderful at their craft, but creating a plan and living that plan is not in their ‘wheel-house’.

Developing solid strategies and tracking those strategies gives you the real world information that you need to move your business forward in a predictable and reliable way.

This is especially true for your marketing. You need to have a Marketing Plan….

Marketing isn’t simple. To do it right, it requires a great deal of planning. Small businesses without massive marketing budgets have to handle this aspect of their business themselves or outsource in an affordable way. To do this effectively, either way it should be part of YOUR plan and not just a hope.

This is why businesses create a marketing plan. A marketing plan is a detailed document that includes the data you need to make marketing decisions and set a course of action that you can implement immediately. Drafting a marketing plan takes a great deal of time and work, but in the end, the benefits to having a plan are worth the effort that you have put into it.

Here are a few questions to get you started.

Who Is Your Target Market?

If you’re already selling, take a look at your existing customers. Who are they? What do they like about your company’s products? Try to recall any positive feedback you’ve gotten from them. Naturally, if your brand resonates with these individuals, it will resonate with others like them.

It sounds simple but so many business owners tell us that EVERYONE is their ideal customer or ANYONE is their ideal. Defining your true customers is an exercise that is worth your time. It directly IMPACTS your marketing strategies and tactics.

If you don’t already have customers, defining your target market may take a bit more work. Look at companies that offer similar products to yours. Who is buying from them? Who could benefit from your products? Try doing some market research to glean some idea of who your target market is.d

What Makes Your Products or Services Unique? Why You? How Do You Stand Out?

There are bound to be other companies out there selling goods or services similar to yours. So, what makes yours different? Why would someone buy from you and not another company? Think about it for yourself, why do you buy from one company instead of another? Is it the product or the customer service, the location? There is always something that causes the person to hit that BUY button.

If the unique qualities of your products don’t come to mind immediately, some work needs to be done. Do some soul searching and look for the strengths of your products. Write down everything that you love about your product/service. Include what you have heard from your customers.

If, in the end, you find that your product unfortunately resembles basically everything else on the market, how can you differentiate it to make it unique?

What Do You Want Your Marketing to Achieve?

Every business takes for granted that it needs to market, but why? The ‘why’ is critical. You need to identify exactly what you hope to achieve through your marketing because this will guide all of your efforts and help you choose which tactics are most appropriate.

Are you trying to build your email list?
Do you want buyers directly on your website?
Is your marketing for new leads?
WHAT is a critical question.

Once you know who your target market is, what’s unique about your product or service, and what you want to get out of your marketing efforts, you’re ready to get started with your marketing plan.

Winging it in business is most often not a good strategy. Spending money on marketing with HOPE that it will work is a waste of money. If you are like most small businesses you do not have money to waste.

Learn more about creating your marketing plan with our new report….3 Keys to Marketing Success

  • How to guarantee that all your marketing is focused in the right direction….and you’re NOT wasting valuable time
  • What 4 things every marketing professional thinks about BEFORE doing anything
  • The most important part of any marketing efforts, no matter how big or small your company is
  • The action steps you can take RIGHT NOW to make your marketing pay off

Check it out here: CompassRoseConsulting.com/3Keys

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.

Transforming Business Results

business resultsChanging Your Business Results

Many business owners that I have worked with and be in touch with have been challenged to truly transform their business results and produce the growth that they truly want and perhaps need.  It is not uncommon — in fact many businesses fail as a result.

I started my business in 2003.  I came out of the non profit world and had spent most of my career working with people on achieving their goals.  Since the age of 14 I worked with people with disabilities and their families, primarily in group homes. But, I also worked in sheltered workshops, employment programs…etc.

As a staff member, I was always envious of the group that gathered to support an individual in their life plan and goals.  it just seemed incredible to have a group of people sitting together brainstorming how to achieve the goals that the individual was setting.  I always wondered what would that be like!?!

Well, here we are and mastermind groups and coaching groups are common and highly successful for their members.  They can transform your results.

When I first started my company, I connected with Best Year Yet™, a strategic planning process.  It was an incredible fit for me and my company and I became a provider of Best Year Yet™.

With Best Year Yet™ — you can create a strategic plan that is highly effective, powerful and alive. Well, let’s be honest.  It only works if YOU make it work.  But doing that is easy. I use Best Year Yet™ in my company, and with most of my clients.

This summer — I am offering a Best Year Yet™ planning workshop so that you can create YOUR plan and transform YOUR business results.

It is here in Northern New Jersey and is a full day.  CLICK HERE FOR FULL DETAILS
(I will offer via online workshop if there is interest.)

What I love about groups coming together to create their strategic plan is that they learn from and benefit from others in the group. The power of that collaboration and inspiration is incredible. There is no way to really measure the true value of it.

One of the biggest challenges in achieving your vision and goals — is two fold:

<mindset and implementation>

I see people almost daily — that are getting in their own way.  Best Year Yet helps to change this mindset. It is the most challenging part of the workshop.
I love this part! Why?? Well, it is transformative.  When an individual figures out WHY they aren’t getting the results they WANT and NEED,
then you are able to shift your mindset and step out of your own way.  It is almost magical sometimes!!

The other challenge is implementation!!

Many, many people set goals and then FAIL to implement.

Again, creating a plan is not enough. BUT having an way to implement that plan, is crucial. Best Year Yet™ helps people to do just that. When you work your plan consistently, then you truly can transform your business results.

The combination is powerful.

I have a couple of articles on my site about strategic planning.

http://compassroseconsulting.com/category/strategic-planning

If you have any interest in coming to the summer planning session — join us:

Let me know what you are doing for strategic planning and your goal tracking.

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.

Lessons Learned or NOT?

Do you ever have something happen and think, damn, I thought I had learned that lesson??

Well, it just happened.

I wrote a great article.  The computer, coughed and the article (unsaved) was gone!!

I searched for it.  Not recovered.

My mind, well, the article is there, but not nearly as good as the first.

I’ve learned this lesson before.  Actually, several times.  I know that as soon as I create a document, I need to save it.  I also know, I should look at every document that is in the recovered documents folder before I delete them.
Well, there you go.  Gone.

Have you learned this lesson?  I know I have.  But somehow the old habit remains.  I continue to create documents and write without saving.  I teach this lesson to my kids.  Because it has happened to them with homework.

SAVE.  That is the lesson!  LEARN once and practice the learning.

What lessons have you learned?  What makes the lesson stick?  what gets in the way of learning it for good?

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.

Joy The Movie: Lessons To Be Learned

Being the CEO — Is The Lesson I Saw.

Did you see the movie Joy?

I saw last week with my kids.  This isn’t really a review of the movie — we loved it!

But more along the lines of what I learned from the movie, as an entrepreneur, as a business coach and consultant.

I always look at events as opportunities for learning.

This was no different.

I have lessons that I have learned from biking across the country, or rock climbing on Outward Bound or adopting children…They all have taught me lessons that I carry with me every day.  I saw a powerful lesson that Joy learned in the movie. And what a great opportunity to learn as well.

For me, the turning point for Joy was the moment that she became the CEO.  She took charge.  She stopped just doing what other people told her to do and she took charge of her business and ultimately her success.  She learned what she needed to, to be the CEO.

Many small business owners, just like Joy, didn’t start off in business with CEO experience.  Some did, but most didn’t. In fact, most don’t even have management experience.

But that is really okay.  You can make it and you can make it BIG, just like she did.

Its not just a fantasy.  Although at times it can feel that way. It is a real opportunity that you have created to build your empire.

Joy never imagined the level of success she has achieved.  She started off solving a problem….you need to understand the problem that you solve.

She figured out how to get started and then after she was “ALL IN” she had to grow into her CEO hat FAST.

Wearing the CEO hat is the point where you DECIDE that you are going to make it and you are going to do what you need to do to do that.

You take charge — even of the consultants or advisers that you are working with.  Learn what you need to about YOUR business to ask the right questions, give the right directions, and drive your success.

What lessons have you gleaned from your life?  Or from a movie?  Leave your comments and let’s share the wisdom!

 

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.

Bizology.Biz Business Help System

www.bizology.biz . Bizology.Biz is a step by step business development, business help system for building success. Developed by Business Success Coach, Donna Price, Bizology.Biz teaches business owners how to master the four pillars of 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.

Business Help: The Four PIllars of Success

www.bizology.biz Bizology.Biz offers a great business development report: “The Four Pillars of Business Success” www.resourcesforentrepreneurs.com

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.