Category

Strategic Planning

DIYMarketers with Ivana Taylor| Read It and Reap | Building Your Booming Business

DIYMarketers: Read It and Reap

By | Building Your Booming Business, Contact Manager - CRM, David Bryant Mitchell, Finance, Leadership, management, Marketing, Motivation, Operations, Sales, Strategic Planning, Systems | No Comments

I had a lot of fun on this interview…..caution, I had technical difficulties on my end at about 17:12, but check out how I worked around it and was able to get back on the call by 18:34….

Here is what Ivana Taylor says about the book:

“For years, David Mitchell has been coaching businesses and business leaders to success by helping them build the tools and processes they need to make a business successful.

He knows the secrets for why businesses succeed, why customers stay loyal or leave, and how to be an effective business leader.

Unfortunately, it would be impossible for him to coach every business, so now he has written Building Your Booming Business to share the main strategies businesses need if they want to get ahead and stay there in a competitive marketplace. And surprisingly, it’s not all about profit or even having a better product.”

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Entrepreneur's Library with Wade Danielson

Interview: The Entrepreneur’s Library

By | Building Your Booming Business, David Bryant Mitchell, Finance, Leadership, management, Marketing, Operations, Strategic Planning, Systems | No Comments

Entrepreneur's Library with Wade Danielson

I was recently interviewed by the Entrepreneur’s Library Podcast.

We talk about the 5 Foundations every business needs to be successful. I also give a couple of influential books that I’ve read that’s helped me sculpt my personal foundations. We also discuss step-by-step business strategies and advice that will not only take your business to the top, but will help you systemize your business, build an effective team, provide high quality customer experiences, and drive more sales. The goal of the book is alleviate the consequences that come with unmotivated employees, escalating business issues, and an overworked schedule.

Enjoy!!

 

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Stop depending on tactics, string them together for a better business strategy

Strategy

By | Follow-through, Marketing, Strategic Planning, Systems | No Comments

I taught my son several years ago the basics of chess. I love the game and can remember the countless hours I spent playing with my father. It was something I wanted to share with my son.

He did not take to the game like I had hoped, and so our games have been sporadic over the last several years. It wasn’t until recently that he has found a new fascination with the game. He engages with the game better because he now understands that the pieces should never move independently of each other – but in coordination. The power of each piece is multiplied by the pieces involved in any given gambit (for non-chess players that is a short sequence of moves that provides a specific result – usually involving the sacrifice of minor pieces to accomplish a better position).

He has discovered that playing a strategy is much more effective – and fun – than playing with unrelated tactics.

The same is true for business. Often business leaders become dis-interested in marketing or business strategy because they are trying to play with tactics and forgetting the overall strategy. They find themselves frustrated as everything they try is thwarted repeatedly.

So how do you know if you are using marketing tactics instead of strategy? Here’s a quick test:

  • You are not sure how your customer interacts with a tactic. What do you expect them to do? What grabs their attention best? What have engages them and keeps them coming back to it? A great example for this is social media. Most businesses spend months trying to conquer this medium without understanding how their customers interact with it and how to encourage those customers to leave the social media space to interact with them in a new way.

Which leads us to test question 2:

  • Your marketing does not coordinate with any other methods you plan to use in your marketing. How do you get someone from your page to your leads list? How do you follow up on that lead?
  • Finally, you know you are using a tactic if you are not sure how this will result in a sale or repeat sales.  Without a clear path from tactic to sale, you are throwing money into the wind and hoping some of it blows back to you. You will only get partial results.

If you find yourself doing any of the three above, you are only playing the game with pawns. You will find yourself disinterested in the game in the long run.

As a side note: I never beat my father at chess until I was in my 20s – and that was because I finally started using a deeper strategy than he did. Read More

How are you getting out in front?

Position?

By | Building Your Booming Business, Marketing, Sales, Strategic Planning | No Comments

If you ask almost any business to describe how they are different from their competition, most say something like, “We provide the best quality with great service at an incredible price.” They don’t have any other way to explain it.

If that is what every business is telling its customer, then the only way a customer has to define the difference is price—and when your business is defined only by price, you become a commodity and are now involved in the “Price Limbo”—how low can you go?

To really connect with your customers, you need to clearly position yourself. Position is simply developing the message to communicate the value you have established in developing product and price.

The good news is if you have spent the necessary time in developing your product, it is extremely easy to develop your position.

Positioning is the set-up to developing your promotions and consists of two parts:

  1. Define your target market. Determine who needs to hear your message. The more specific the market, the more successful you will be. (We’ll dive into this next week)
  2. Define your message. Define the motivations of your target market. Then describe how your business solves a problem or fulfills a desire. This is where a copywriter comes in handy. Copywriters are professionals who are experts in writing to sell. They can help you sculpt this message and avoid most of the marketing trial and error it would otherwise require. With a clear message, the design can then be sculpted around it with logos, pictures, and graphic design. (More on this to come as well.

For now, stop using the “Quality, Service, Price” trifecta when talking to your customers. Start describing how it will impact their daily life.

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Get Clear About Your Product

By | Marketing, Operations, Sales, Strategic Planning | No Comments

Get Clear About Your Product Marketing

Often we get so caught up in the technical aspects of our service or product, that we forget what problem it solves for our customer.

In order for you to communicate clearly with your customers through your marketing and sales, you have to become clear about three aspects of your product:

  1. What is the problem that you solve and what are the benefits your customer receives?
  2. What is the experience that your customer can expect?and
  3. How can you consistently deliver that benefit and experience?

 

Get clear on these, and you’ll begin to see how much better you attract your ideal customers.

The Five Foundations

By | Finance, Leadership, Marketing, Operations, Strategic Planning, Systems | No Comments

A business is nothing more than a system of systems that creates value. And every business needs five basic systems, which I call the Five Foundations of Business:

What are the Five Foundations?

Discover the five foundations your organization needs to succeed.

  • Marketing—Finding the quickest path to the sale.
  • Management/Leadership—Identifying the destination, developing the path, and creating a team to accomplish it.
  • Operations—Delivering the service.
  • Finance—Managing the value created through superior marketing and operations.
  • Systems/Controls—The grease and glue that keeps the other four Foundations moving smoothly and holds them together.

Getting these systems to work for you as efficiently as possible is the essence of creating a successful business. Once you have created and fine-tuned the systems, it becomes much easier to sell your product, create viral word-of-mouth, hire employees, lead and manage them, expand into new markets and additional sites, and to franchise. Plus, life is easier and more enjoyable when your business generates income for you and your lifestyle. Finally, the systems make it possible for you to create a business worth selling when you’re ready to retire or move on to your next venture. Of course, within those categories, how the specific systems that create widgets, tools, knick-knacks, food, services, or experiences will work depends entirely on you as the business owner.

If you decide to read Building Your Booming Business, take the time to review your systems. Where is the hand-off from one system to the next? What systems are missing or not performing as well as they could within each of these “Business Foundations?”

Why should you trust me? What makes the material in Building Your Booming Business worth the time to read and implement?

I have always had an entrepreneurial bent. At eleven years old, I used the drawing program on my dad’s IBM 286 to make a half-page flyer advertising that I was available to do a variety of odd jobs. Then I distributed about 100 of them throughout my neighborhood. I had a few calls over the next couple of weeks to mow lawns, babysit kids, and a number of similar tasks. Within a couple of weeks, I was bringing home about $150 a week. A year later, one of my customers, who was the general manager for a local lumberyard, asked me to give him a bid for regularly mowing about two acres of grass around the business. Once I sealed that deal, I was bringing in an additional $120 every ten days. In 1989, that was a lot of money, especially for a twelve-year-old. Don’t worry; I spent most of it irresponsibly.

Since then, I have run business organizations as large as 200 employees, increased revenues by 40 percent in less than three months, and have battled almost every operational obstacle imaginable. I even had to pull a department out of a financial disaster.

More importantly, I have successfully coached scores of other entrepreneurs, managers, and owners on how to be successful doing the same things I have done. Many of them have more than doubled the sizes and profits of their businesses, created more time for themselves, and even sold their businesses for profit.

Why would what I have to share in this book work for you? You’ve probably tried training programs and systems before. You’ve tried seminars, books, coaching, and spent lots of time trying to get your business to break barriers.

The reason I know that what I have to share can help you take your business to the next level is that I have actually implemented, either in my own business or in the businesses of my clients, every concept in this book, and I have seen great successes as a result. Even if you only use one of the strategies I offer, you can move your business forward, or you can apply all of them to make your business boom.

To get a copy of the introduction and the first page, check out http://BuildingYourBoomingBusiness.com

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Masterminds Are Not Networking

By | Accountability, Follow-through, Leadership, Motivation, Strategic Planning, Stress Management | No Comments

I seem to be getting popular these days. Last week, Jim Nemley interviewed me about how a business mastermind SHOULD work. We talked about accountability, openness, confidentiality and that a mastermind is not a networking group or a social outlet.

Check it out below:

 

Check Out Business Podcasts at Blog Talk Radio with Jim Nemley on BlogTalkRadio

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