Starting a business is pretty tricky for the uninitiated, and what you don’t know can be disastrous. Most small business fail within the first five years, but that’s often because of easily avoidable mistakes. If you’re planning to start a new business, especially one that’s service-based, here are some pointers to help you avoid some of the most common startup pitfalls:
Taking consistent action to accomplish your business goals can be challenging. Yet, this is critical to achieving business success. Running a business is no small task, and it’s natural to occasionally feel like you need a break or even to simply slow things down while you recuperate.
During those moments it is important to do what is needed to rejuvenate: take part in activities you enjoy, take a vacation, or simply minimize your commitments until your energy is reclaimed.
When you are lacking in motivation, the solution isn’t always as straightforward. Many of my clients ask why it is so hard to stay motivated, and my reply is always, that we forget the WHY of our business goals.
We lose sight of the bigger picture, the excitement and the meaning behind the desire, and instead we wallow in how hard it feels. Whenever we associate “pain” and discomfort with something that is good for us, we put ourselves on the course for giving up.
Sigmund Freud, the grandfather of modern-day psychology explained this with what he called “The Pain/Pleasure Principle.” That is, people make decisions based upon their emotions. People will generally choose whatever will create less pain and more pleasure.
Emotional mastery, therefore, requires the ability to associate “pleasure” with your important business goals. To stay motivated with your goals, you must associate good feelings with accomplishing them.
Here are some emotional mastery tips to stay motivated:
Acknowledge every win.
It’s easy to acknowledge the big wins, yet the majority of goal accomplishment is actually made up of “small wins” and daily forward motion. Remember to marinate in the good feelings of every little accomplishment as you move toward your goal.
Remember your “why”.
When defining your business goals, don’t just focus on what you want and when you want it. Focus on WHY you want it.
Why is this goal important to your business? What positive rewards come with achieving your goal?
And, if applicable, identify how your goal makes your business, and therefore, the world a better place.
Savor each moment.
Too often, as people accomplish goals, they set their sights too far off into the future. Yet there is a lot of enjoyment to experience along the way. As you are accomplishing your goal, savor each moment along that journey.
Experience the nooks and crannies. Breathe into the process as you would if you were enjoying a fine wine.
Instead of focusing on your mistakes, focus on what each experience has to teach you. Every mistake is actually a success in the form of a learning experience. I have personally never met a successful woman in business who didn’t mess up a time or two. Embrace these moments and learn the lessons that they have for you.
Create a Community.
Success in business requires a community of support. Surround yourself with positive and like-minded people with similar goals. Celebrate your progress together and share your wins and what you are learning with one another. Spend time together masterminding and supporting one another.
Business success includes trial and error. Track your progress, measure effectiveness and make the necessary shifts along the way.
Wishing You Much Success 2015 And Beyond!
Ways to Market to the Wealthy
Wouldn’t it be nice to make over your business so that you are attracting wealthy clients who willingly pay your fees for goods or services rendered, refer you to other wealthy clients, and sing your praises to friends and associates?
This blog post will focus on the top industries that benefit from targeting the wealthy, ways to market to the wealthy, and how you can change your thinking to attract wealthy clients.
Top five industries that benefit from targeting the wealthy
Change your thinking to attract wealthy clients?
Use your website effectively
Reach out to clients via your company’s website. Make sure you are crystal clear about what you want clients to do when they get to your website. Build your list and optimize your site for the search engines. Keep in touch with your clients regularly via an ezine delivered electronically. It doesn’t matter what business you are in, you can use a website effectively.
We are an international culture that is on the move. Americans move every five years. There may not be hordes of wealthy folk where you live, but with the internet you can reach prospects all over the nation.
Upgrade your business.
And you will upgrade your clients. Template business cards and websites will only get you so far. Upgrade your image and you will automatically upgrade the quality of clients you attract.
Upgrade your thinking.
The wealthy are just like you and me. They are humans with busy lives and they need your products and services. Just because you have never targeted them before doesn’t mean that they don’t need you. Work on yourself and your self esteem. Work on your expertise so that you can move easily in their circles.
Be willing to spend more to attract quality clients. Wealthy clients didn’t become wealthy by taking short cuts in business. Know the value of being open to market and advertise where you will reach quality clients. You may need to invest time and money in marketing, materials, events, reports, technology, and image.
Be willing to do the work.
There is no easy answer. There is no magic bullet. If you want to play with the big boys, you must be willing to do the work. In the early days of my coaching business I took on clients without realizing that they were hiring me to give them the one magic marketing technique that would solve all their problems. There is work to do folks. If a successful business was easy to achieve everyone would be in business for themselves.
Create a special referral program just for the affluent.
At this level of clientele, you must coddle your clients. Make a BIG fuss when you receive a referral from an affluent client. You must create and manage a SYSTEM that measures referrals. Do you know how many referrals you have received year to date? If you don’t, you are not measuring adequately. Your system should tell you how many referrals per month and year and who they were from. You should have frank discussions with your clients about the type of person you would like to be referred to and you must figure out how you can get more referrals from those not giving them to you already.
Conclusion: It’s far easier to grow a successful business by targeting the higher end of the market rather than dealing with difficult consumers who care mostly about price. While your competitors are rolling around on the floor picking up pennies, make sure you are positioned for fabulous success in business by creating a new strategy that will target the upper end of the market. It’s worth it!
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