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Small Business "re-launch"

Nick Petra — Fri, 25 May 2012 04:39:30 GMT

Remember how excited you were when you first started your business? You couldn’t wait to tell the world (especially friends and relatives) about your new venture. Perhaps you had a grand opening party at your home business office or at a leased office site. Those were the days, full of excitement, enthusiasm and hope.

Perhaps the reality of hard work, business struggles, constant changes, new competition, staff issues, the economy, etc. all have taken a toll on your enthusiasm. Is your business life in the “doldrums”? Does it need a re-charge?

May I suggest that you do a “Business Re-Launch”, the benefits are many:

It will show your friends, relatives and clients that you are still enthusiastic about your business
It’s an opportunity to educate them about what is happening in your business. This may be a package which is given to each guest when they are ready to leave which includes a small gift.
It will help you as a business owner to think about the benefits your company provides.
It will re-charge you .

Let’s look at the components for a successful business re-launch:

Set a budget! This is a marketing effort which may be one of the best and most important marketing functions your firm has ever put together.
Start lists in the following categories:
- Current clients
- Friends
- Prospects
- Family
- Service providers
- Now take each list and prioritize the names by which had or has the potential to be the most beneficial for your company.
- Prepare for the actual re-launch :
  - Select a place and time to hold the event (your home, your office, another location)
  - Determine what will be served in the way of food, beverages, etc.
  - Select a theme
  - Design a small, to the point, information package on newest happenings in your firm.
  - Decide on a small gift or favor to include in the package. I have seen everything including small plants, candy, Starbucks gift cards, grocery bags, rubber ducks, or go to 4imprint.co ( that’s who I use) and get a catalogue.
  - Depending upon space and budget, select the top names from your different categories and send them a “save the date teaser card” at least 4 to six weeks before the re-launch.
  - Every week until the launch, send another, well designed, unique teaser card with more information about the event.

I have seen very successful re-launch events with total budgets from as low as $200 to several thousand dollars. The exciting thing is that there always have been benefits for the business owners. There are many variations to this process. Take the time to do it right. Yes, we can helpJ.

Success is not the result of spontaneous combustion. You must set yourself on fire.

Reggie Leach

Nick J. Petra CFP When you want the best possible support visit our web site at www.strategicduck .com and call Nick for a confidential meeting.

Make it a Successful Today!

Understanding the use of a b rochure in small business marketing

Nick Petra — Thu, 24 May 2012 05:49:28 GMT

No, brochures are not dead. The internet, I-pad and smart phones have not negated the proper use of a brochure. While a brochure is looked on primarily as an information tool ( if it doesn’t do at least that, your prospect won’t even look at it) it is also a marketing tool. It can be the direct response vehicle that will change the receiver into a ready to buy mode. Prospects don’t always buy on first contact and a brochure is left behind with the hopes of stimulating a call for more information.

The following are recommendations for creating a worthwhile brochure.

A brochure is designed to give prospects the information they need to make an intelligent purchasing decision. Look at your target market list, pick the top two targets and then look at your current brochure. Does it address the issues/needs that answer their questions?
The next step is to look at your current brochure and identify the call to action. In my experience, if you don’t encourage people to act, they won’t. A call to action has to be easily understood and should include specific instructions. Make a list of possible action items that a prospect might take after looking at your brochure. Next, pick one or two and give your prospect the tools to take action. Tools may include your phone number, web site address, a response card, etc. Whatever you use, make it easy to find, put it nest to the request for action.
Content is important in a brochure, but so is the “eye appeal”. I am referring to the color, the overall design and even the size and shape. If you are not present and the brochure represents your only possible contact with a prospect, is your brochure enticing enough to be picked up? Unless it’s looked at, your content and call to action will never be seen.

A properly designed and written brochure is a very powerful marketing tool. Take the time and invest the money to make your brochure a “WOW”.

An idea is only as good as its execution.

Nick J. Petra Certified Financial Planner Business consulting and coaching is our only product.

Visit us at www.strategicduck.com Take action and call Nick at 602-989-1592 and let us put work clothes on our dreams and help them become a reality.

There is no new business or new business direction that doesn't face risks

Nick Petra — Tue, 22 May 2012 04:33:27 GMT

There is no business or new business direction that doesn’t face risks. The secret is to determine what they are, take time to understand them and then determine what direction to take. Taking this type of a forward look is an essential part of the business planning process. Risk examination should be looked at when a new business is started, when an existing business takes a different direction and when there is no contemplated change in a business.

Let’s take a look at a few sources of possible risks to your business:

COMPETITION: competition can come from several sources:
- existing competitors already in your market place
- new competitors moving in from other areas
- new startup businesses

Don’t make the mistake of starting a new business or changing direction in your business without an extensive research into the three risks listed above. Just knowing in your heart that you can do a better job is not the answer. Take the time and do the research.

NEW PRODUCTS/SERVICES: Your anticipated new business or direction may not be the latest solution to serve the needs of your target market. Again research is required.
CHANGE ITSELF: in today’s fast paced environment change is the only constant in your business life. A business may have to be ready to re-invent itself and its products/services with little notice. In this area, marketing should be the main focus as it is a constantly changing dynamic of any business. (Look at what technology has done for marketing, i.e. computer, i-pads, smart phones, etc.)

I have not addressed the resource issue; time, money and staff. This area is part of the strategic business plan and is always considered an important part of any new venture.

The bottom line becomes the research aspect before starting a new venture or changing a business focus. Unfortunately, this is one of the hardest areas to convince a small business to undertake. The benefits you will gain are not only learning about potential risks, but it will also serve as an educational tool as you will learn what others are doing in your field.

It is planning not gambling that produces profit and security. Marcus Aurelius

Nick J Petra Certified Financial Planner specializing in business planning and coaching

Don’t gamble by traveling alone in your business walk; let us help you get your ducks in a row. www.strategicduck.com

Small business owner, are you sharing your "true" story?

Nick Petra — Mon, 21 May 2012 05:08:39 GMT

Spent the evening with an awesome group of people. It was a diverse group made of business owners, bankers, mechanics, real estate agents, house wives, retired people, etc.; they all had one thing in common, they had all participated in a Cursillo Weekend. This common bond allowed us to share a meal and then share our stories, not from a superficial position, but speaking freely from the heart.

Yes, we shared our faith stories and after we left I got to thinking about all the business meetings I attend. It seems that most people in a business group share a story that will make them look successful. The rest of the group accepts the story and share similar stories. Just like in our personal lives our business lives have their ups and downs. It’s difficult to help someone if they don’t share their true business story.

Every small business has a strength that they can share and at the same time, a weakness that they need help with. It may be time for you to establish a business group where the members are willing to talk about their strengths and weaknesses, their triumphs and failures. The rest of those in attendance can help by offering their strengths and leaning on the strengths of others in the group to overcome their weaknesses.

Deep inside, I believe that every business owner wants to find such a group but is afraid to admit that they may need help. This business group would be very unique. It’s not only about getting new business but finding out what the needs are of the other members and reaching out to them. Start your group even it’s only with one other business and you will recognize other potential members as you walk your business walk.

Greatness is not defined by what a person receives, but by what that person gives.

Nick J. Petra I share my gift of planning and coaching. Read my gift daily by subscribing to my blog at www.strategicduck.com

The small business has to make powerful presentations

Nick Petra — Fri, 18 May 2012 06:12:06 GMT

While working with several new clients (item creators) whose main thrust was to maintain the creative posture of their business and have others sell their products, I found the root of their problem, a bad presentation. In developing this blog I researched firms that were service providers and found that they also had a need for a presentation process. While there is not “one way” to put together an effective presentation, there has to be a worthwhile presentation to obtain the new business.

The following is one way of developing an effective business presentation.

Know your audience: cold calls may be effective if you have the time and are playing the numbers game; by making enough calls you hope that someone will be “weak enough” to buy your product or service.
- Before you make your “presentation” call, find out all you can about the company and the person to whom you will be speaking. Make sure that you are making the presentation to the decision maker.
- Involve your audience: People like to tell their story; you know about their company and about the person you are making a presentation to; ask them to share their story. Your main job now is to LISTEN. ( If you have to ask questions, remember FORD , Family, Occupation, Recreation, Dreams)
- Time now to share your story: It’s not all about your products or services; it’s your story, who you are, your values and how you got to where you are.
- Showing benefits: while the end result, you hope, will be the sale of your products or services, first be prepared to talk only about the benefits that your product or service will provide to the business and the individual making the decision.
  - Whenever possible the use of pictures, i-pad, graphs, etc., again, showing the benefits, can be very powerful in arriving at a successful conclusion.
  - The most important resources a company possesses are time and dollars. Along with these two resources, your listening ability will help you determine other “hot buttons” that may have to be added to the benefit list as you are making your presentation. I find that quality, customer care, and convenience are other items of interest to most firms.

This may sound like a lot of work, but your closing ratio will increase as will the relationship that you formed with a new client. This extra work will also help with client retention.

I may spend many hours with a client building the foundation for an effective presentation. With this foundation in place, it does not take a long time to add the personal information referred to above and to direct the benefit list specifically to your audience.

Tell me and I forget, teach me and I may remember, involve me and I learn. Benjamin Franklin

When success iS of paramount importance, call on the “Duck” at www.strategicduck.com

Nick J Petra Certified Financial Planner, specializing in business planning and coaching.

The social media button...a msut for small businesses

Nick Petra — Thu, 17 May 2012 05:10:40 GMT

Last week we looked at how to brand your business; the many different options should help you create a brand that now can be marketed. Today we will focus on a magic window that can project your brand and story to everyone in the world.

Keeping track of a small business, the production part, is such a major undertaking that names such as Facebook, Twitter, linkedin, e-newletters, and blogging seem like a playground for young people of the high tech generation. Few people thought that it would ever become a viable business tool. For those that have ventured into this new dimension, social media has proven to be a very valuable asset.

A survey by HubSpot (www.hubspot.com; a valuable place to learn about marketing with social media. Once you are registered with them they send out free “how do” guides”) shows that companies that utilize social media as part of their marketing strategy have seen success from their efforts. Of companies using Linkedin, 57% have reported customer acquisitions directly from that channel. Businesses that are using blogs and the rest of the major social media network have reported similar successes.

The brand awareness that these participating companies have developed using social media is priceless considering that the cost is, in most cases, nothing.

Another way that social media has become a useful tool is to research people and to communicate with prospects. According to recent figures released from the Pew Research Center, 65% of adult internet users participate in social media networking. The social media utilization of Americans over 65 grew 150%, and that same statistics doubled among those 50-64.

The social media bandwagon is moving fast, but you still have time to join. No, social media is not the only marketing required for a successful marketing program, but it certainly is become an important tool in the marketing basket.

Like any other successful marketing program, there is a learning curve that is required. Fortunately, it does not take a lot of time and there are a lot of resources available on the internet. Resources consist of time and money. The main resource for this marketing endeavor is your time. When you are not in front of a prospect or client, you should be marketing. Allocate at least 1 hour per day for the next 45 days to learning about and creating a presence in social media. Don’t expect instantaneous results, but those 45 days will get you in the habit to continue working in this marketing arena and success will be measurable within your first year.

Part of this article is taken from an article by Amy McIlwain.

Time may be your most precious commodity, learn to allocate wisely.

Nick J. Petra Certified Financial Planner specializing in Business Planning and coaching

Visit www.strategicduck.com and contact us to learn how we can help you grow your business.

Make it a Successful Today.

Strengths and Weaknesses, a necessary evaluation in forming a small business plan

Nick Petra — Tue, 15 May 2012 05:57:01 GMT

In the development of our Strategic Focus Plan an important exercise is assessing the strengths and weaknesses of the owner(s) or management team. (Both individual and business strengths and weaknesses are to be included in the formation of the list). I ask the participants to be honest with me and with themselves when creating this list. Once the list is complete, the next step is to prioritize both the strengths and weaknesses. The strengths are prioritized based upon their importance to the success of the company; the weaknesses are prioritized based on the “harm” they do to the company.

When we have more than one person in management or ownership we often find that a weakness in one person may be a strength in another. Sometimes, however, we find that the weaknesses are not strengths in another person on the team; the same holds true when we have one business owner, working alone.

When we cannot find a needed strength we have several options:

Perhaps the most difficult is to change the identified weakness into strength.
Find a strength that can be directed or modified to compensate for the weakness.
Find outside support to compensate for the identified weakness.

The ultimate goal is to lead with the identified strengths and to work on eliminating weaknesses.

This exercise is conducted in the early part of the plan formation. As objectives, goals, opportunities and strategies are examined and developed, they must be based on the existing strengths of the plan implementers. Resources should then be allocated to enhance strengths and address and correct weaknesses.

I recommend that a Strategic Focus Plan , be reviewed ( updated) every six months. The strengths and weaknesses section should also be reviewed as change is the main ingredient in the business world and new weaknesses and strengths may be identified.

Don’t go around saying the world owes you a living; the world owes you nothing; it was here first.

Mark Twain

Nick J Petra Certified Financial Planner specializing in Business planning and coaching.

When growing a successful business is your goal, let Strategic Duck help you “get your ducks in a row”. 25 plus years of experience! www.strategicduck.com

Yes, Marketing Plans do exist and are essential for the small business owner

Nick Petra — Mon, 14 May 2012 04:30:57 GMT

Once a Strategic focus Plan is developed, then the focus should turn to the development of a Strategic Focus Marketing Plan. In some cases, our clients want only a marketing plan developed so we have structured a Strategic Focus Marketing Plan patterned after our overall business plan. We include the same fundamentals in both plans and a lot of the discovery process is the same. The following is an outline of our Strategic Focus Marketing Plan:

What is the business currently doing in the following areas:
1. Products/services
2. Sales and market efforts
3. Current target market
4. Pricing
5. Market share
6. Client need analysis
7. What marketing problems do you currently have?
8. What opportunities do you see?
9. Define your sales objectives; be specific.
10. Re-define your target market by answering the following:
  1. If there were no limits, who do you see as the ideal target markets? Be specific and list at least three target markets.
  2. Make a list of possible marketing strategies.
  3. How do you want your product/service to be perceived, relative to that of your competition, in your customers mind?
  4. Make a list of marketing tools that you could use (branding, web page, social media, publicity, personal selling, advertising, etc)
  5. Establish a time table for implementation including action steps and an accompanying time table.
  6. Based on the information gathered in the first steps of this plan, create a marketing budget that will accomplish this goal. Initially, this budget should not have any constraints placed on it, once the budget is developed and income projections are looked at, then available funding is examined.
  7. Prioritization and implementation is the next step.
    1. Progress evaluating is a continuous requirement; I recommend a weekly status examination for the first two months, then twice a month thereafter.

Unless a plan is in writing and referred to on a regular basis, there is no plan!

Let the “Duck” at www.strategicduck.com become your marketing coach and partner

Nick J. Petra Certified Financial Planner We are the number one team for Business Planning and Coaching

Branding the small business ... continued

Nick Petra — Thu, 10 May 2012 03:22:05 GMT

If you are building a brand, there are a set of tools that you can use to strengthen and project the brand. “Strong brands typically exhibit an owned word, a slogan, a color, a symbol, and a set of stories”

Slogan: a slogan or tag line added to the company name or brand and used in all its marketing efforts is a very powerful “message sender”. Selecting the right slogan requires a lot of thought and patience but once selected, it can help grow the positive image in the minds of customers. A good example is Budweiser: “The king of Beers”

Color: a consistent set of colors is a big help in brand recognition. Caterpillar, for example, paints all of its construction equipment yellow.

Symbols and Logos: there are several options in this area: Travelers insurance uses a red umbrella; other memorable symbols include the Jolly Green Giant and Charley the Tuna. In my case, I selected a duck caricature.

A set of stories: this may be a little more difficult to implement, but well worth the effort. One of the stories I remember best is the awesome customer service that Nordstrom is noted for. Stories about the company founders or positive customer experiences can be used.

Once the brand and all its embellishments are decided upon, the hard work begins. It has to be used in all marketing material and the message that the brand conveys must be the same as the company’s actual performance.

Like most worthwhile parts of the Business Growing Process, brand building will take both time and thought.

Carve your name on hearts and not on marble. Charles Spurgeon

Nick J Petra Certified Financial Planner specializing in business planning, consulting and coaching

www.strategicduck.com

Make it a Successful today.

Branding the small business

Nick Petra — Wed, 09 May 2012 05:55:29 GMT

Many small business owners tell me that they want to “build a brand name”, or “we are building a brand name”.

First, let’s answer the questions, why brand? The main advantaging of “branding” is to have your products enjoy a higher profit margin and greater customer loyalty than similar products of the same type. There are many components to the branding process, one is as follows: “ images loaded with sensory stimulation and the potential for emotional associations are the key to brand/product imagery positioning. Little or nothing is ever said about the product and no explicit statement of uniqueness is made. Examples include “The Pepsi Generation”, “Coke is it”, The Marlboro Man”, and I am sure each of you can add to this list.

Another, simpler look, and which is easier to understand is as follows: Marketing is largely the art of brand building.

Step one is to choose a “brand name”, “and then its various meanings and promises must be built up through brand identity work. “The following are from Kotler on Marketing.
- It should suggest something about the product’s benefits. (Beautyrest mattress, craftsman tools,)
- It should suggest product qualities such as action or color. (Sunkist oranges, spic and Span cleanser)
- It should be easy to pronounce, recognized, and remember; short names help. (Tide, Crest, Puffs)
- It should be distinctive. (Kodak, Exxon, Mustang)
- It should not carry poor meanings in other countries or languages.
- The best known brand names carry associations. For example, McDonald’s include: golden arches, Big Mac, Kids, Fun, Happy meal, etc. The following are 5 dimensions that can communicate meaning.

Attributes. i.e. Mercedes brings to mind a well engineered car, rugged, expensive, etc

Benefits: a strong brand should suggest benefits, not just features. Mercedes features include “prestigious to own”.
Company Values: a strong brand should connote values that the company holds dear. Mercedes offers engineering innovations
Personality: if Mercedes were a person we can imagine a person that is serious, well organized and somewhat authoritarian.
User: a strong brand should suggest the kinds of people who buy the brand. Mercedes buyers are affluent, professional.

This is the start of the brand building process. Tomorrow I will continue this brand building process. Most of my notes for this article come from a book, Kotler on Marketing by Philip Kotler.

Building a brand is an ongoing process. Marketing is the key to the success of most small businesses and that marketing has to be based on the results you want your brand to exemplify.

The difference between the rich and the poor is that the rich invest their money and spend what’s left, while the poor spend their money and invest what’s left.

Nick J. Petra Certified Financial Planner Business Consultant and Coach www.strategicduck.com

When success is of paramount importance, call on the Strategic Duck.

No such thing as a "Boiler Plate Business Plan".

Nick Petra — Tue, 08 May 2012 05:27:15 GMT

There is no such thing as a boiler plate business plan, nor, for that matter a business plan that is completed by a business owner himself. They may be called business plans, but in the long run they serve no useful purpose other than to have the business owner say, “Yes, I have a business plan”.

I have spent over 25 years facilitating the creation of personalized, value based, strategic focus plans. In those years I found that the level of success a company has is directly proportional to the type of plan they have, how it is developed and how it is “groomed” and used over the life of the business.

When working with a new, existing business client, I ask for the following information:

A copy of the business plan, if one exists
If no business plan exists, why don’t you have one?
When is the last time you looked at your business plan?
When was your business plan updated last?
Do you have a list of company goals and projected achievement dates?
Are your goals prioritized?
Do you have written mini plans with time factors for completion and how are you holding yourself accountable for achieving those goals?

Answer these questions for your own business. If one of those answers is not positive, then it’s time to stop and work on your business instead of in your business. The building block for a successful business is a good business plan, yet, in my experience, most businesses do not have a business plan or a workable business plan.

This short blog contains, perhaps the most important advice that I can share with any business.

Requesting help is not a sign of weakness, but of strength. A call to Strategic Duck and asking for help is a healthy sign.

Nick J Petra – Certified Financial Planner – specializing in business planning, consulting and coaching

www.strataegicduck.com

Make it a Successful Today!

More than one option, why yours?

Nick Petra — Sun, 06 May 2012 21:12:42 GMT

In the business world, each of us has a goal of making our product or service better in some way so that our target market will select us and even, be willing, to pay a price premium.

Marketing is telling our story to our target market. We can make changes in our products and services, but unless our target market understands the benefits, how our products and services will provide greater value to them, we will not gain market share.

Price, the cost of the service/product, is usually one of the first differentiators that comes to mind. Discounting has become almost common place and many purchasers are reluctant to pay full price. Getting into a price war may result in more sales, but the profit margin is lower and that can lead to a cut in the quality of the service/product.

Step back and look at a “target market”. Within that target market there are levels of “buyers”. For example, let’s take a look at the automobile business. Almost everyone needs a car for transportation so if we sell cars, then we can say that everyone is our target market. All cars will take us from point A to point B, however, not all cars sell at the same price. Cars are sold from under $10,000 to well over $100,000. Why did you buy the car you are currently driving? Why isn’t everyone driving the $10,000 car? What do you think are the benefits that the buyers of the more expensive cars are looking for? Answer these questions and then complete the following exercise:

Define in a general category, your target market.
Next divide your target market into three segments; those that you think want the lowest possible price for your product/service, those in the middle, and then those in the upper third.
Start with the middle tier and list the reasons why you think this group would pay more than the first tier.
Do the same with the highest tier; what extra benefits or values do you think motivates this group?

Unless you are in a very narrow niche market, there are more people in each of the three tiers of your target market than you could ever provide products or services to. Which of these groups would you like to target? Which has the highest profit potential? Now go back to your own marketing. Are you telling the story that that will attract your target group? In business, you can’t be everything to everybody. For whom do you want to be somebody?

If you market your product or service the right way, people will strive to find a way to buy your offerings.

Nick J. Petra Business Planning and coaching www.strategicduck.com I work with people that want to succeed, let me help you achieve your goals.

Make it a Successful today!

Business owner, retirement is coming...be prepared

Nick Petra — Thu, 03 May 2012 05:20:20 GMT

According to a survey by the Society of Actuaries of 1600 retired or close-to-retirement investors 45-80, just 35% said they have a detailed retirement road map designed to manage the risk of running out of money.

This survey, along with increasing life expectancy, rising health costs, inflation, and a very uncertain economy, should make every business owner very concerned.

This survey was conducted with current investors; many small business owners are fully invested in their business and, unfortunately, many don’t have any other retirement plans. The notion that one can work until one dies, is no longer a viable alternative.

As a business consultant and coach, I am usually invited to work with a firm that has problems. Marketing, sound management systems and financial budgets and records are the problems I most frequently encountered. In many cases, the business is operating in the red (on borrowed money) or at best is breaking even with no company reserves or retirement benefits.

My first goal is to increase revenue and reduce debt. Retirement planning and company reserves are hardly taken into consideration in the first six months to a year of working with a client. Yes, I would like to start the retirement planning process at the start of a relationship, and sometimes, I get a client who is financially able to start the planning process and take his company to the next level at the same time.

If we can’t change the retirement preparedness mentality in our nation, we will be facing some very dire circumstances beginning in the next 10 years. Young workers don’t understand that without proper planning they can slip into poverty in their retirement years. Our nation is in such debt now that it cannot possibly accommodate the needs of the elderly who have no retirement capability.

With increasing health costs and no money for living expenses, what do you think our “politicians” are going to recommend as a solution?

Old age is a reality as is a lack of jobs for those over 65. As a Certified Financial Planner, I am acutely aware of the upcoming retirement crisis and will work with my clients to make their retirement planning a priority as soon as financially possible.

Save your extra funds today, cut unnecessary expense; send your money ahead to wait for your retirement. Instant gratification isn’t worth potential poverty in your old age.

Nick J Petra www.strategicduck.com Let our team of experts work with you first in business planning and then retirement planning.

Make it a Successful Today!

Small business must reach out.....

Nick Petra — Wed, 02 May 2012 05:18:16 GMT

Today another example of business isolation reared its ugly head.

As I had my first encounter with a new prospect, I asked, “What are your biggest issues that are hindering business growth”?

Let me set the stage for my question. This business was located on the second floor of a three story office building housing approximately 30 other businesses. The office was located in a mixed industrial/office park. The business is only 9 month old and the founder is the sole person working there. It is a service business franchised with a recognized name.

Now the answers I received to my question:

Bad location, I should have street exposure so people could walk in.
There is too much competition in the area.
Can’t afford to hire someone to stay in the office so I can get out.

After listening to an explanation as to why these three facts were going to cause him to fail, I asked him to write down the names of all the businesses in his building and the name of at least one person working in each office.

You guessed, it, he had the first name of one person on his floor and told me he didn’t feel comfortable walking into other offices. Wow, a people, service oriented business and not willing to meet neighbors.

I spent almost an hour listening to both the dreams and the problems that this new business has brought forth. No, I did not sign up a new client, even though that is why I was called ( a referral); my parting words were “ I will come back and visit with you when you have completed the following two tasks:

You have visited every office in your building and obtained the name of the owner or manager
You have had a visit in your office, coffee, etc., with at least 10 of the 30 people you have met.

Will I get a call back? If these tasks are accomplished then there is hope and a possible client that is willing to listen; if not, I didn’t waste his time or mine.

Sometimes the answers to our problems are in front of us but we can’t see them because of the blinders we are wearing. What can’t you see because of your blinders?

Solutions don’t have to be long and complicated; often success is there in front of you if you open your eyes and heart and recognize the opportunities. Nick J. Petra

Visit my website at www.strategic duck.com. Sign up for my blog and then set up an appointment with us to help you remove whatever blinds you.

But it's not in the budget...(we really don't have a budget, but we can't afford anything else).

Nick Petra — Tue, 01 May 2012 03:49:40 GMT

There are several things in running a small business that, in my opinion, will increase the chance for success to 90%;

A willingness to set daily goals. You never start your day without a plan and achievable goals.
A willingness to work efficiently: that means you work the time necessary to complete your daily goals.
A willingness to work extra hours if necessary: sometimes “things happen” and your daily routine is disturbed. That may mean that you didn’t accomplish your daily goals in your normal allocated time and extra time is required.
You hold yourself accountable for achieving the daily goals.

The best way to establish long term goals that can be broken down into daily goals is to have a partner in your business - - not an ownership partner, but a partner that you hire and who has your best interest at heart. It is someone who you can bounce ideas off and who will be honest in their evaluation of those ideas. It is someone who will cheer you on when you feel down; someone who will keep you on the path to personal and financial success.

Many small business owners use the budget excuse for not hiring a consultant/coach/partner. I can honestly share that almost all small business owners, after no more than two meetings with their new partner, say “I wish I had started working with you long time ago”.

Your personal and financial success is my goal. I only ask that you give the process time to develop and that you honor your commitment listed in the four items above.

Spend an hour with me, at no charge, and let me demonstrate my capabilities.

Be in business for yourself, but not by yourself.

Nick J Petra www.strategicduck.com When dreams need to become a reality, contact us.

Make it a Successful today!

1-2-3....vision-focus-action

Nick Petra — Mon, 30 Apr 2012 05:03:40 GMT

Growing a successful business is as simple as 1,2,3. The problem is having the discipline to follow through on this “simple” process. Notice I did not eliminate the words “hard work” from the formula. The most comprehensive business and marketing plans do not offer a better solution than these three steps to success.

In this context, vision refers to the big picture that you see for your business. It’s a vision that must constantly be in your mind and must form the foundation for everything else that takes place.

Three questions that must be answered:

Where are you going? (vision)
What will it take to get there? (focus)
How will you accomplish this? (action)

All are important considerations, but the allocation of your time and resources is the key difference. With your coach you can define a vision for your business. The focus is the part you look at that takes under consideration your financial resources. This is not a budget lecture, but keeping accurate books and establishing monthly budgets are both integral parts of the “focus”.

Meaningful production, the time when you are in front of a client or prospect, is the goal of the action portion of this process. How you allocate your time, how you plan your action steps and the analysis and accountability of your marketing time should be the most important part of each day.

The daily time that you are not in front of a client or prospect should be divided as follows:

10% on the “paper work” including the financial portion
10% on determining your marketing action items for the day. ( to be selected from your overall marketing plan)
75% on implementing the marketing action plans.
5% summarizing your daily marketing efforts.

Discipline is the key to success and by breaking down the work into daily pieces; it is easier to build the necessary discipline to succeed.

Courage is doing what you’re afraid to do. There can be no courage unless you’re scared.

Eddie Rickenbacker

Nick J Petra www.strategicduck.com Make it a Successful Today!

Fast growth management requires "whale fishing"

Nick Petra — Fri, 27 Apr 2012 05:53:23 GMT

Many small business owners are in a hurry to grow. Their management style is “all business is good business”; therefore, in my opinion, they don’t have any management philosophy.

Setting policy is a prime responsibility for a fast growth management process; that includes the allocation of assets ( time and money), usually a scarce commodity in a small business.

All management must be focused on profit. Define your profit centers and analyze the return based on the time necessary to obtain the profit and the amount of that profit. This is where “whale fishing” comes into play. Fast growth comes from large profit centers. The time required to catch the small fish (small profit centers) takes just as much time as chasing and catching a whale.

Management also sets the tempo for the marketing arm of the business, most times, the small business owner wears both hats at the same time. If your target market is not made up of “whales”, then your marketing plans is flawed.

The mindset of the small business owner has to be one that realizes that the business is “a financial instrument” whose sole purpose is generating large profits.

The transition into whale fishing starts with time to develop and implement a new, directed marketing plan. The ideal target markets have been identified. From that, the resources (time and money) are woven into the fabric of the new marketing plan. Management leadership requires you to keep the business on course with accountability checks and being alert to the changing needs of your targets.

This is a simple solution but one that requires a strong belief in yourself as you take your business on a fast growth path.

Since you can’t change time, you must instead change your approach to it.

Nick J. Petra We specialize in whale fishing! www.strategicduck.com

Make it a Successful Today!

The Discipline of Leadership - a small business requirement

Nick Petra — Thu, 26 Apr 2012 06:04:19 GMT

Discipline: a system of rules governing conduct.

Leadership: the process whereby an individual influences the behavior of people in a way that makes them more likely to achieve organizational goals.

“One of the most critical managerial functions in entrepreneurial organization is leadership. Effective leadership is a prerequisite not only to successfully making the transition from one stage of a firm’s development to another, but for that matter to operating effectively at any stage.”

In a one person business leadership is still a requirement even though the only person you have to lead is yourself. Good business (leadership) habits have to be established and nurtured from the beginning of a new business life.

Let’s break down leadership responsibilities in into several components (responsibilities):

The first step is to have developed a Strategic Focus Pan which formulates the vision for the business. This means that the vision looks ahead and sees what the business will look like in the future. Strategic Leadership requires a process that implements the suggestions of the Strategic Focus Plan and uses the plan as a daily guide.
With a strong foundation (the plan and vision) the leader must next organize the available resources and implement each step of the plan. This requires prioritization of resources and time in order to maximize their potential. Accountability and follow-through are the key ingredients in this step.
This component addresses the “corporate culture”, the management of the business, so that the owner and all staff are always focused on the end goals. Because change is the only constant in a business’s life, the management of the entity has to be such that its effectiveness can remain constant even in times of change.

As businesses go from one growth stage to another, the founder (leader) has to define the strengths that brought the business to its current position and then evaluate his ability and responsibilities in this next stage. Personal control may have to be relinquished and new people may take over the management responsibility as the founder specializes in expanding his strengths.

The step from an entrepreneurship to new management in a growing business may be a difficult transition. The evaluation process will require openness on the part of the founder and a willingness to accept new leadership. This growth transition is critical to a firm’s survival and I recommend the use of a business coach to aid in this process.

Where there is no faith in the future, there is no power in the present.

Nick J Petra www.strategicduck.com Make it a Successful today!

Business Person - You have only one body

Nick Petra — Wed, 25 Apr 2012 05:09:24 GMT

As a small business owner you can get new products, services, location, marketing plans, etc. etc. etc… but there is one thing you can’t get new and that is a new body..

No, I don’t tell you how to exercise and how to eat properly, but I see a major difference in clients who eat healthy and exercise on a regular basis and those that “don’t have time”.

My expertise is in business and marketing support as well as coaching a small business. Once we have determined where a small business wants to go, we create a path, then accountability becomes our focus.

Taking care of your most priceless possession is your job. Don’t spend your health to get wealth because you will end up spending your wealth trying to regain your health.

Time management is an important step on the ladder to success. Make sure that daily exercise is included in your daily schedule.

A few thoughts on the 2^nd part of a healthy body and that is your diet. Just as with exercise, plan your “work meals” and your “at home meals”. Eat what is good for you; do some research. If possible, involve your entire family in the diet and exercise part of your life.

My own observations have taught me that business owners who make health a priority have a better attitude, better self-image, better people skills, more patience and ultimately a more successful business.

How do you measure up?

The greatest gap in life is the one between knowing and doing. Dick Biggs

Nick J Petra www.strategicduck.com “the best small business support team”

Make it a Successful Today!

Schedulel your Success

Nick Petra — Tue, 24 Apr 2012 12:42:05 GMT

Success has to be scheduled one day at a time and today is the most important day for achieving success. Yesterday is gone and tomorrow has not yet arrived. Today is the only day you have to work with, in other words, you have to achieve success today!

A small business owner recently told me “if only I had been born into a wealthy family, I wouldn’t have such a hard time getting new business”. He was telling me that wealth would attract his target audience. Other business owners share “the big deal” they had several months ago as their measure of success. Others put all their hope in tomorrow being better, and then success will become a reality.

The only true measure of success is the success you achieve today. Each morning when you wake up, write down a success you want to work towards and achieve today. I have a writing by Thomas Willhite on my desk that I came across in the late 70’s; it reminds me how to live my today.

“This is the beginning of a new day. God has given me this day to use as I will. I can waste it – or use it for good, but what I do today is important, because I am exchanging a day of my life for it. When tomorrow comes, this day will be gone forever, leaving in its place something that I have traded for it. I want it to be gain, and not loss; good, and not evil; success, and not failure; in order that I shall not regret the price I have paid for it.”

Don’t create a complicated plan for your daily success goal; keep it simple and work towards it’s accomplishment.

One today is worth two tomorrows; what I am to be, I am now becoming.

Benjamin Franklin

Nick J. Petra www.strategicduck.com let us help you with reach your daily successes.

Make it a Successful today.