The Root Word in "Networking" is WORK!

It can be enjoyable work, but work nonetheless - you have to be intentional and clear on what you are going to accomplish each and every time you walk into a networking situation. Don't drive miles and pay your admission fees just to sample out the finger food and stand for 30 -45 mins with the couple folks at the event that you already know. Do:

- speak to as many different people as possible
- try not to be more than 5 minutes with a single person
- set a target number of cards collected and remain until you have it
- try to find out about people's interests and goals, so you can add value when you go to follow up
- follow up contacts within 48 hours

There are many formal networking groups to join like BNI, and obviously several one-off events if you're looking to get your networking arm of your marketing platform in gear.

90 Day Plans; EVERY 90 Days

As the next 90 day planning session on May 25th quickly approaches I'm reminded of how much impact these days of massive action planning can have on results. Or, how business owners who don't take the time for their 90 day plans are doing themselves a great injustice. Take an entire day AWAY from your business (and your cell phone) once a quarter to:
- reflect on your successes and challenges from the past 90 days
- objectively review the current situation in your business (SWOT analysis)
- revisit your long term goals and targets
- decide what must be accomplished in 1 yr to be on track
- then bring it back to the top 12 - 15 things that absolutely must be done in the coming quarter

We all know the saying; 'failing to plan, is planning to fail' so get in the routine - 90 days plans, every 90 days.

Here's a video explanation of why this type of planning is so vital for business owners:

Click here to watch video

Customers do they just come to see you because?

This is an interesting question I often get asked. Well I opened up my business but why aren't the customers coming? Well customers buy based on several factors. One factor is "do they like you?" Do they like your product, your service, your team and YOU! This LIKE factor begins the relationship and builds Trust. If they like you and what you offer then they will buy! What are the other factors? Stay tuned ....

How Committed are You?

It's an interesting question to ask ourselves as we set out towards our quarterly goals and targets. As humans we generally will always get what we NEED, but not very often what we WANT. Committing 100% will shift the goal to a 'must have' rather than an 'it'd be nice to...' Interesting clip from a classic movie here that illustrates this point; all the riders seem deeply committed in chasing their goal, but in the end - it's only one of them who is 100% determined.

Watch this Video

What Would 2% Mean?

In business, profit is KING, so while you're busy working to generate more leads and sales, be sure to always be considering - what can be done to trim up my costs?

Did you know that the slightest decrease in your expenses will often yield the same results in profits as huge jumps in sales. For example a business with gross sales of $500,000 and gross profit of $100,000 could jump to an extra $8000 in profit by closing another $45,000 in sales; or by making no extra sales and just cutting expenses by only 2%. Imagine they did both!

To see what a 2% cut in expenses would mean to your profits, use the calculator in this link.

http://www.actioncoach.com/free-business-calculator-twopercent.php

Hi Jarrod

Uncertain times can bring the best out in business owners, whether it be through initiative, innovation, or new direction. Many people who have lost their jobs have elected to start or buy their own business and could benefit from working with you. I see great opportunity for 'correction' as opposed to 'crisis' ahead. Business ownership/ entrepreneurs are a fast growing trend and Alberta has more per capita than anywhere else in the country. I salute you and your professional decision to coach, to draw out potential, and to help others make a difference in their businesses, and in their lives even in the most trying of times.
All the best.

Recession in Alberta???

Hello Calgary.

This blog has been created in the middle of some serious economic turmoil and doom and gloom south of the border, and many of the questions I'm asked these days have to do with such. Is it coming here? What's going to happen to my business? How bad will it be? When will it be over? Although I don't think Alberta will feel the strain like we are seeing in the United States right now, the next 6-12 months will definitely start to prove which businesses have been going well because the economy was good, and which businesses were doing well because they were good. If you are convinced that dark times are ahead, here's three things that should be focussed on during any downturn in economy or market:

1. Retaining existing clients

2. Cutting fatty expenses (the smartest place to invest in is your own growth in knowledge and skill)

3. Ensuring steady cashflow

Jarrod