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Website Must-Haves

In today’s digital age, having a website is not just a luxury. It is a necessity for businesses and organizations. We are at the point where just having a website isn’t enough – your website needs to attract and retain visitors.

When establishing a strong online presence, there are key elements that can significantly impact your website’s effectiveness in turning prospects into clients. In this article, we’ll explore must-haves that will make your website user-friendly, engaging, and reflective of your brand.

A Clear & Concise Home Page: Your Digital Welcome Mat

Your homepage serves as the virtual doorstep to your business. It is the first impression that visitors will have of your website and your business, so it’s essential to make it count. It should be visually appealing, with a clean design and easy-to-read font. Most importantly, it must convey your brand’s message and purpose. Use eye-catching images, brief yet powerful text, and a clear call-to-action to encourage visitors to explore further.

Navigation: Guiding the Digital Journey

The first stop on our website must-have tour is navigation. Imagine navigating a city without street signs – confusing, right? Similarly, a clear and intuitive navigation menu is crucial for your website. It’s like a roadmap, helping visitors easily find what they’re looking for. Label each menu item thoughtfully, and ensure the navigation bar is visible on every page.

Responsive Design: Your Website, Anywhere, Anytime

In our world of various devices, your website needs to be optimized for mobile devices. This means that your site should be responsive, adapting to screens big and small. A responsive website ensures that whether someone is on a computer, tablet, or phone, your site is easily accessible, looks good, and works well. This is critical, given that more than half of all web traffic now comes from mobile devices.

Fast Loading TImes: The Need For Speed

In a world where time is precious, a fast-loading website is a game-changer. Most visitors are unlikely to wait more than a few seconds for a page to load, so your website should be optimized for speed. This includes optimizing images, reducing the number of plugins you use, and ensuring that your hosting provider is up to the task of handling your website’s traffic.

Engaging Content: Tell Your Story Efficiently

Your website’s content is the heart and soul of your website, and the backbone of your online presence. From a catchy homepage message to informative blog posts, ensure your content is compelling, clear, and well-written. Break up text with descriptive headings and subheadings, use visuals to illustrate your points, and make sure your content is easy to read and skim without sacrificing SEO value. While it is unlikely that visitors will read every word of your site, search engines like Google will.

Contact Information: Building Trust Through Accessibility

If your website’s purpose is to attract new customers or clients, make sure visitors can easily get in touch with you. Include a prominent contact form on your website, your phone number, email address, and physical address. This builds trust and assures visitors that you are a legitimate and accessible business.

Search Engine Optimization (SEO)

Finally, it’s essential to ensure that your website is optimized for search engines like Google. This means using relevant keywords throughout your content, optimizing your images, and ensuring that your website is easily crawlable by search engine bots. Investing in SEO ensures that your website is visible to potential customers who are actively searching for businesses like yours.

In Conclusion

Incorporating these website must-haves is like laying a solid foundation for a successful online presence. Navigation, responsive design, a clear home page, fast loading times, engaging content, accessible contact information, and effective search engine optimization collectively create a website that not only attracts but retains visitors. So, whether you’re building a website from scratch or giving your current one a makeover, remember these essentials to truly enhance your online presence. If you have any questions, please reach out to the team at Five Towers Media.

The Top 4 Sales Efficiency Challenges & Solutions

The challenge of sales is that sales is… Well, challenging! And when it comes to sales efficiency, four challenges seem particularly common. We often see small to mid-size businesses struggling in the areas of Sales Process Complexity, Sales Technology, Data and Analytics, and Sales Rep Training.

Let’s dive into each category to evaluate the problems – and solutions – associated with each.

SALES PROCESS COMPLEXITY

Common Problems:

• Reduced efficiency and wasted effort due to sales reps spending too much time on administrative tasks.

• Longer sales cycles which can tie up resources and delay deal closings. Sometimes, this results from multiple decision-makers being required to sign off on the deal, but it too often results from inefficiencies in the seller’s organization.

• Higher costs due to the extended sales cycles and the number of steps involved in the process.

• Customer frustration which can impact the seller/buyer relationship in the short- and long-term.

Solutions to Consider:

• Analyze the sales process to determine areas where the process can be streamlined or automated with AI.

• Create a sales playbook to ensure all sales team members truly understand the sales process.

• Hold the team accountable for understanding and following the documented process. If non-compliance is too common, it could indicate the process needs more fine-tuning.

• Use technology to identify and generate leads and use your Customer Relationship Management (CRM) software to identify recurring issues and bottlenecks.

• Listen to your customers; if they are frustrated with certain aspects of their buying experience, this should provide clues on how to improve your sales process.

SALES TECHNOLOGY

Common Problems:

• Too many tools and lack of coordination between technology platforms – including systems, software, and applications – can cause confusion and inefficiency for sales team members.

• Integration issues and lack of alignment can lead to data silos, repetitive and time-consuming input, overall inefficiencies, and conflicting output.

• Poor training that leaves sales reps underqualified to use sales technology effectively and efficiently.

• Utilizing technology platforms that the sales team does not buy into – they do not understand or see the value it provides, and therefore do not use it.

Solutions to Consider:

• Choose integrated or compatible technology systems to avoid compatibility

problems.

• Provide thorough training to empower sales team members.

• Invest in a comprehensive (but not overly complex) CRM system.

• Implement a sales engagement platform to help automate repetitive tasks such as sending emails and scheduling meetings.

• Use sales analytics tools to help track performance and identify areas for improvement.

• Get feedback from your sales team members; as the frontline technology users, they probably have great ideas for enhancements.

LACK OF DATA AND ANALYTICS

Common Problems:

•Siloed data systems.

•Poor data collection practices, which can include not capturing key data in a CRM with each customer or prospect interaction.

• Poor data quality due to unreliable data sources, inaccurate data entry, duplicate data, or incomplete data.

• Lack of data analytics tools, often due to a lack of budget or a poor understanding of the importance of the tools and how to confidently use them.

Solutions to Consider:

• Improve data collection, whether it be from a purchased list or gathered during the course of business operations; strive for meaningful comprehensiveness that will support future reporting and forecasting.

• Centralize data in a well-aligned CRM system.

• Use meaningful data in the CRM to perform general sales analytics, forecasting, and process improvements.

• Use a consultant skilled in sales analysis to identify trends, patterns, and opportunities for process improvement.

SALES REP TRAINING

Common Problems:

• Poor sales rep performance due to non-existent, poor, or improper sales training on processes, tools, and resources.

• High sales team turnover, which results from poor performance or dissatisfaction with up-front management support and professional development.

• Customer dissatisfaction due to poorly trained sales representatives.

• Poor sales training content that may be irrelevant, ineffective, or outdated.

• Lack of practice opportunities during and after sales training.

Solutions to Consider:

• Commit to frequent sales training and prioritize its importance even if it impacts available selling time in the short term.

• Implement sales training programs aligned to big-picture and specific sales performance needs.

• Listen to sales rep feedback to improve training methods and focus.

• Provide opportunities to practice what has been learned; use simulated and real-world opportunities, including roleplay.

THE BOTTOM LINE

Identifying sales efficiency challenges is the first step toward implementing meaningful solutions. One easy way to identify your company’s unique problem areas is to take my free Sales Agility Assessment. It’s a quick and easy way to zero in on the challenges facing your sales organization. Once you have a better understanding of your specific sales challenges, I will work with you on focused solutions to help you overcome your most troubling sales efficiency challenges.

ARCC Hosts Panel Discussion on Alternative Hiring Options

On Thursday, January 25th, 2024, the Adirondack Regional Chamber of Commerce hosted a panel discussion featuring four speakers, sharing their expertise on alternative hiring options.

Communities across our region have been experiencing hiring shortages, and challenges retaining employees. This panel shared stories and experiences on the hiring of individuals with criminal records, veterans, immigrants, and individuals with disabilities.

“We are so grateful to have professionals available to speak to our business community on the hiring of these populations,” said ARCC President & CEO Tricia Rogers. “This is just the beginning of the conversation, and we are thrilled that many businesses in this region came to the event to learn about their hiring options.”

The panelists dispelled many misconceptions that have been presented about hiring these populations, as well as shared some resources and programs; one of which, called the Department of Defense SkillBridge Program, has been successfully implemented by one of the panelists – Sergeant Major Christopher Thomas (U.S. Marine Corps, Retired), founder of Elite 9 Veteran Talent Acquisition Services, who has been working with a few local businesses on opportunities for service members to gain valuable civilian work experience through specific industry training, apprenticeships, or internships. Service members receive real-world job experiences, while still maintaining their military compensation and benefits. The employer, in-turn, gains a valuable employee that may turn into full-time employment.

“How do we move from a handshake and ‘thank you for your service’, to providing mutually beneficial opportunities for the success of our communities, and the hundreds of thousands of transitioning service members from the military every year? I truly believe the answer lies within the Skillbridge Program, but we must first build awareness to gain the desired traction,” said Thomas.

The panel also featured Tim McNutt, Esq., the Director of the Criminal Justice and Employment Initiative Center for Applied Research on Work, at the IRL School Cornell University. Mr. McNutt spoke of common misconceptions on hiring someone with a criminal background: “Workers with criminal records often perform better on the job, stay longer, and have fewer incidents at the workplace, but misconceptions can keep employers from hiring this largely untapped talent pool. Individualized assessments with a focus on skills for the job can help overcome hiring hurdles and create a triple win: organizations hire the workers they need, people with criminal records get jobs, and society benefits through reduced recidivism,” said McNutt.

In addition, Dr. Richard Leach, a retired physician and co-founder of the Adirondack Welcome Circle, spoke on his experience welcoming refugees into our community, and helping them secure employment. His personal stories shined a light on families looking to make a better life for themselves in our country, and how the Adirondack Welcome Circle has helped.

To round out the panel, the ARCC invited Michelle Treffi, Director of Employment Programs, Community Work & Independence (CWI) who provided some excellent information on programs that CWI can offer employers: “I think far too often, people hear the word disability and automatically think of what limitations/barriers an individual may have, rather than the skills that they have worked hard to develop. Hiring disabled individuals can help a business round out their talent needs while creating a culture of diversity and inclusion, and further strengthening community ties,” said Treffi.

Some of these programs offer all the support that the employee and employer may need to ensure success: “There are programs in place, such as Community, Work and Independence, Inc.’s Competitive Edge, which is a full-service employment program that matches individuals with jobs that are compatible with their skills, abilities, and preferences. Staff assists individuals with career exploration, job exploration, and the application and interviewing process. Following a job placement, Competitive Edge offers job coaching, employment counseling, soft-skills training and support, a safe forum for workplace concerns, and guidance to manage employment benefits. Competitive Edge works to ensure satisfaction for both the individual and the employer with each job placement. Group employment options are also available through contracted work opportunities.”

The ARCC is committed to continuing these conversations and finding a way to bridge the gap between employers and job seeking populations. Stay tuned to the ARCC website for any updates or announcement of future discussions.

Buying Local – S2E3: The Real Estate Roundtable Reconvenes

Buying Local Glens Falls

S2E3: The Real Estate Roundtable Reconvenes


Welcome to Buying Local!

Saratoga, Warren, and Washington County have no shortage of fantastic goods and services to offer! In this podcast, our host Mike Nelson will clue you in on the amazing gems hidden in your very own community!


The Real Estate Roundtable Reconvenes

Episode 50

In this episode, our host Mike Nelson talks with local top real estate experts Dan Wade, Mark Pawlows, and Lori Danussi!

It’s been a few years since the COVID pandemic first affected the real estate market… What’s recovered, what still has a ways to go, and what does that mean to prospective home-buyers and sellers? Listen to this episode for the answers to those questions, and many more!

00:21 – Ad: Visit the Eden Center for Integrative Care!

00:51 – Introduction

02:55 – The State of the Market… Still Favors Sellers!

04:57 – The Reign of Rent

07:27 – When Your First Home is a Retirement Home

09:10 – Interest Rates Hold Strong

11:55 – The Adjustable Rate Loan

13:57 – Drawing the Line Between a Starter and Forever Home

15:35 – Nests Aren’t Being Emptied: Where Are We Headed?

16:59 – Regulation Stifles Progress: The Ironically Named Moratorium

18:24 – Supply Chain Issues are Mostly Over… But Building Costs are Still Up

19:15 – Remote Work Affects Commercial Real Estate

22:56 – Real Estate Shifts: The Mall’s Fall from Grace

25:22 – Turning the Mall Into a Cruise Ship

26:09 – Timing is EVERYTHING

27:19 – Interest Rates May Come Down Soon!

28:!5 – Marry the Home, Date the Rate

29:06 – How to Get in Touch

30:18 – Closing Remarks

30:58 – Ad: Call Performance Industrial Today!


PRODUCTION NOTE: The opinions reflected in this podcast are not indicative of the views of Saratoga Business Report, SaratogaBride.com LLC, Saratoga TODAY, Glens Falls TODAY Business Report, or Five Towers Media.


Details

  • Host

    Michael Nelson

  • Guests

    Dan Wade, Mark Pawlows, and Lori Danussi

  • Runtime

    32 min, 8 sec

  • Air Date

    February 12th, 2024


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Blue Collar StartUp – Episode 50: Hiring to Your Weaknesses… AND Strengths?

In this episode, our hosts Mike Nelson and Derek Foster interview Michael Turcotte, proprietor of Turn Cycle Solutions!

Michael built and grew his New Hampshire-based business with the usual hard work and hiring team members to cover his own weaknesses… But he also made the unique decision to hire people with similar strengths to his own. Why would he replace his own strengths with a costly employee, and how did this decision help his business grow? Listen to this episode HERE, and you just might find out!

Strength in Numbers: MeetingPoint Professional Networking

In the dynamic world of business, the adage ‘it’s not what you know, but who you know’ holds significant weight.

The essence of success often lies in the robustness and strength of professional networks. This is the cornerstone upon which MeetingPoint is built, a platform dedicated to fostering professional connections that spur relationship development, knowledge sharing, and business growth.

A Selective and Diverse Community

MeetingPoint’s membership comprises a distinguished array of professionals, including attorneys, CPAs, financial experts, select consultants, and various personal and business advisors. Our focus is on quality over quantity, admitting only a select group of professionals known for their niche expertise. This strategic diversity ensures a rich blend of knowledge and experience, providing an invaluable environment for collaboration and information exchange among our members.

Regional Presence & Expansion

With an established presence in the Capital Region and Upstate New York, MeetingPoint boasts four active chapters: Albany, Saratoga, Hudson Valley, and Glens Falls. This regional spread not only enhances our reach but also offers members a diverse array of perspectives and opportunities.

Our Vision: Creating Opportunities Through Engaging Activities

MeetingPoint is more than just a networking group; it’s a community focused on creating meaningful business opportunities. Our activities, ranging from meetings and events to insightful exercises, delve into the business personas of our members. We aim to transcend the traditional exchange of business cards, fostering an environment where connections are made naturally, free from the pressures of obligatory referrals.

Member Benefits:

  • Monthly Connection-Centric Meetings
    These gatherings are tailored to foster organic referrals and establish strong professional bonds. The emphasis is on achieving practical outcomes for all participants.
  • Network Expansion Opportunities
    Members are encouraged to attend meetings across different chapters, broadening their professional horizons and uncovering new growth opportunities.
  • Expert-Led Presentations
    Keeping members at the forefront of their fields, our presentations are more akin to TED Talks than traditional boardroom briefings. These sessions, led by members or guest speakers, offer actionable insights for professional advancement.
  • Social Engagements
    We organize casual yet strategically valuable networking events like happy hours, golf outings, and charity activities. These events are designed to strengthen connections in a relaxed atmosphere.

Join the MeetingPoint Community!

We are actively seeking new members within the following industries:

-Personal Injury Attorney
-Divorce Attorney
-Commercial Litigation Attorney
-Commercial Real Estate Professional
-Labor and Employment Attorney

If you’re a professional advisor looking to expand your network and influence, MeetingPoint could be your next strategic move.

MeetingPoint stands as a testament to the power of professional networking done right. By fostering an environment of diverse expertise and providing a variety of platforms for connection, we are redefining the way professionals collaborate and grow. Join us in this journey of creating enduring professional relationships and unlocking new business horizons.

Contact Charles Amodio of Ferraro, Amodio & Zarecki CPA’s for any questions: camodio@fazcpas.com or visit our website at meeting-point.us!

The Top Ways AI Can Support Your Sales

The sales department plays a crucial role in any organization’s success.
As technology advances, it is vital to understand the trends in sales, including AI. Its widespread adoption has transformed almost every sector, and its application is limitless. From identifying valuable patterns for forecasting to automating follow-up emails, AI is changing the sales landscape and how salespeople interact with customers.

Let’s explore the top 4 ways AI can support your sales organization:

1: Sales Forecasting

Traditionally, sales forecasting has been a time- consuming process,prone to human error, and heavily reliant on the individual salesperson’s intuition and experience. However, AI is revolutionizing this process.

PUT IT INTO PRACTICE:
Use AI-powered software to analyze your historical sales data and ask it to identify patterns and predict future sales trends. This technology can consider factors that humans might overlook, such as seasonal variations, market trends, and even global economic indicators.
If utilized consistently, your AI-powered system will become increasingly precise, providing invaluable strategic insights for sales teams. Sales forecasting enables business owners to plan their revenue stream, budget more accurately, and forecast future growth.

2: Lead Generation & Qualification
AI software can help businesses generate leads and manage them effectively. Machine learning platforms can analyze customer data, website traffic, and social media engagement.

PUT IT INTO PRACTICE:
Enable a chatbot on your website to engage with visitors and initiate lead-qualifying conversations. By asking targeted questions and gathering information about their needs, budgets, and preferences, chatbots can then identify potential high-quality leads and immediately route them to the sales team for a personal follow-up. By utilizing AI, sales professionals can personalize their approach and spend time talking to the most high-value prospects.

3: Content Creation & Brainstorming
AI-powered content creation tools can generate creative ideas and valuable insights for prospect messaging. This not only eases the process of content development but also ensures its relevance, catering to the specific needs and preferences of the target audience.

PUT IT INTO PRACTICE:
AI tools, such as ChatGPT, are excellent options to generate content based on specific guidelines. Feed your AI-powered platform with tasks, such as generating a prospect email, a response to a qualified lead, or even creating a social media post to promote your newest offering.
Remember, while AI provides a significant boost, human editing is still necessary to maintain the brand’s voice and ensure the content’s overall coherence and quality.

4: Competitor Analysis
AI can provide real-time competitor analysis, giving businesses a leg-up concerning competition. AI software can monitor competitor activity, such as price changes, new product launches, and promotional activities.

PUT IT INTO PRACTICE:
Begin searching for relevant data to answer questions about competitor products, pricing, and marketing positioning. Such questions could include “What is the value proposition of Company X?” “What is Company X’s target market or service offering?” Using the data compiled can help businesses formulate a better sales strategy and alert sales reps of any changes in the competitive landscape.

The Bottom Line:
Artificial Intelligence is transforming the sales industry and providing endless possibilities for businesses to optimize their sales organization. Yet, in a recent poll we conducted, 35% of Small to Mid-Size Businesses were not implementing this revolutionary technology to streamline their sales processes.

Local CPA Offering Expertise in Taxes & Business Advisory

South Glens Falls resident Brian Stidd has been happily ensconced in the accounting world for more than half his life. But he also has a passion for business. So when he decided to end his employment with a local accounting firm and strike out on his own, he was determined to combine both of those loves into one job. And thus was born his newest source of satisfaction—his very own company: Stidd, CPA, PLLC.
Now, as the sole owner of a professional limited liability public accounting firm, Stidd performs tax planning and preparation for small-company owners and individuals while also providing business advisory services. According to Stidd’s website, the company’s goal is to “provide comprehensive assistance to businesses, combining the precision of public accounting with the strategic insight gained from the private sector.”

Stidd, who became a certified public accountant in 2007, has been operating his Glens Falls firm, now located on South Street, since the summer of 2023. “I just always wanted to own my own business,” Stidd said in a recent telephone interview. “I’ve got an entrepreneurial spirit, and the timing seemed right to do that.”

The Long Island native has been a resident of upstate New York since 2005, when he graduated from Siena College while majoring in accounting. “My dad was an accounting major,” said Stidd, recalling his years living downstate. “He started his own business in structured finance. I always liked math, [and I progressed] from math to accounting, and then on top of that, I love the business side of things too.”

After a prospective client contacts him, say for tax help, Stidd sets up a meeting, which can be done in person, over the phone, or even via a video conference. “I’ll get information from that call, and if everything looks good, I’ll get prior-year (tax) returns and other prior-year information. I typically have follow-up questions, at which point I have a more in-depth meeting with the client before sending them a proposal.”

For all clients seeking services, Stidd offers three different pricing packages. No matter which one is chosen, Stidd encourages all his clients to call with any questions they have during the year and before completing transactions in order to properly advise them.
After Stidd establishes a connection with clients, he reviews their companies’ performance quarterly. “Basically, I help them develop management-use financials” such as metrics and other tools, he said.

Stidd went on to explain how he enjoys working with owners and entrepreneurs in a variety of industries to grow their businesses and ensure their overall financial health. Over the last nearly two decades since Stidd graduated from Siena, tax rules, he noted, “are changing much more rapidly.” In addition, “there is better technology for improved processes and better information for business owners. Technology is changing faster, and you have to make sure you’re on top of it.”

To that end, Stidd, who earned his CVA (Certified Valuation Analyst) credential in 2015, has been taking continuing education courses to keep up with those changes in the industry. “I enjoy the technology side of it,” he said, “and being able to pick the software and set up the processes the way I want to do it is a big thing.”

As of the new year, Stidd has nearly 100 clients, the majority of whom are located in the Albany-Glens Falls corridor along the Northway. Because he is able to work remotely, he also has out-of-state clients, including those from Connecticut and Florida. If all goes as planned, he will begin adding staff in the fall.

For the upcoming tax season, Stidd has a message to impart: “The biggest thing I tell prospects or any of my current clients is, ‘If you’ve got some kind of financial transaction coming up that you’re thinking about, call your CPA and discuss it with them first before finalizing [the paperwork]. Because once you do the transaction, you can’t change the tax consequences.’ If you do some planning ahead of time, you may be able to save on taxes.”

Since he started his own company, Stidd has been more than happy with how things have turned out and with the people he has met. “I look at it as a partnership with my clients, and it’s typically a long-term relationship,” he said. “I love what I do, obviously, with my clients. I really enjoy the business side of it and being able to take something and grow it and build the business.”

Stidd can be reached online at StiddCPA.com, and by phone at (518) 414-3242.

1 Change to Make to Your Marketing in 2024

Two years ago, I wrote a blog article about where people miss the mark when defining their target market. The idea was that when I talk to business owners about their marketing efforts, they always tell me they can sell to “anyone” and “everyone.” I don’t want to spoil it for you in case you would like to go read it, but for most companies, it’s financially impossible to market to “anyone” and “everyone.”

In the previous article, I told you how to narrow your target market using Demographics, Geographic area, and Psychographics to define why they want to buy. In this article, I want to tell B2B companies that the most important change to their marketing this year will be to Redefine and Refine their target market to create “The List.” Don’t worry, I’ll give examples and more explanation. I should mention though that this really is for B2B businesses. I am not saying B2C cannot put this into practice; it will just take a bit more work.

Here are the steps to redefining and refining, with some examples of how we’ve handled this ourselves here at Five Towers:

1) Take a second pass at DEMO, GEO, and Psychographic Info.
Our objective here is to narrow down these categories. For us, we started with a smaller geographic area. Logistically, we can work with anyone anywhere, but the businesses we love to work with are located in Warren, Washington, and Saratoga Counties.
We also narrowed down our demographics— specifically with regard to industry types. We love to support blue collar businesses, manufacturers, and professional services (attorneys, CPA’s, financial services, etc). What we found is that narrowing down our Geo and Demo also changed our Psychographics. Our target market does not want to worry about the hottest creative trends or staying up to date on best practices in a fast moving environment. In many cases, our Target Market has a Marketing Coordinator who needs the resources of a large team but does not have the budget for in-house employees.

2) Reach out to current clients that fit this refined targeting data and interview them to help refine Psychographic Data. This is also a great way to ask for a Google review or testimonial. You are looking to get their reason for loving the work you do and why they continue to work with you.
This will help with #1 above and also help you refine your messaging. If you do this for 5-7 clients, you will have some great data and can look for the overlap. If all of your clients say “it takes a ton of weight off their shoulders to be able to count on you and your team,” you should probably include similar messaging in your marketing efforts.

3) Compile “The List.” This step is one of the most important for truly becoming efficient and effective with your marketing efforts. If you followed the steps above, then, like us, you are probably able to start doing Google searches or scouring websites (such as your local Chamber of Commerce) for companies that match your newly refined Target Market. The more complete the contact info, the better. Company name, physical address, website, contact name, phone number, etc. When you start to look at a modern multi-pronged approach to your marketing, you will need all of it.
I’d also like to mention that “The List” is something from one of my favorite business books, Traction by Gino Wickman. It is a must read for any business owner looking to grow and scale their business. It discusses EOS, which is an amazing system, and we are lucky enough to have an EOS Implementer right in Glens Falls. If you do not know Wendy Waldron, you should. Check out the article she wrote in this edition – Great Business Owners Are Like … Octopuses?

4) Design Your Marketing Strategy Around The List. Having The List and designing your marketing around it makes everything simple. It removes complicated schemes and allows you to be as efficient as possible.

5) Execute, Execute, Execute. All the planning in the world is not worth a dime if you do not execute and follow through on your plans. Too often I see people spend tons of time making plans, getting ready, and then not executing. Or worse, they start to execute and then continually alter the plan, stop and start, or stall. These same people will end up scratching their heads, wondering why the results aren’t coming in.

The overall success of your marketing efforts may not rely solely on how specific your target is — but it certainly starts there. With a redefined and refined Target Market, you know who to look for at networking meetings. You know how to communicate to referral partners to whom you would like to be connected. You know what kind of content to create and what messaging will strike a chord with the right audience. You know the right targets to put on that mailing list and which to leave off.

To be fair, I am not sure there is a single downside to a redefined and refined Target Market.

Great Business Owners Are Like… Octopuses?

Great business owners are like octopuses. Surprised? But consider… Octopuses are intelligent. They are skilled at solving problems. They are strong. They are flexible. They respond rapidly to their environment. And, with their eight arms – which contain an astonishing two-thirds of their total neurons – they can multitask in a truly enviable way! The octopus, however, does something with those eight arms that many business owners neglect.

The octopus lets go.

Successful business owners are successful in large part because they, like the octopus, can do many things at once and do them very well. For instance, they can be great at making decisions and solving problems, innovating products and delivering services, capturing sales and building relationships, and more. The problem arises as the business grows: at some point, business owners cannot – and should not – do it all. If business owners insistently keep their “arms” in every area of the business, they ultimately end up limiting the success and sustainability of their treasured company.

Holding On Is Holding You Back
Here is a common scenario. A business owner has built a robust company, and the number of products, services, employees, customers, etc. have all expanded over time. In like manner, the leadership team has expanded. Finance, Sales, Marketing, Operations, and all the other functional areas are represented by men and women who are great at what they do.
The problem? They aren’t given the opportunity to show how great they really are. Sure, they handle day-to-day matters. Even some strategic issues. But the big decisions, the vision, the direction, the goals, the planning… all of that is controlled by the owner. His or her “arms” are everywhere at once.

Touching everything. Evaluating everything. Claiming everything. Leadership team meetings may have dialogue. The team members’ input may be requested. But the unspoken truth is that they are not a “leadership team.” They are a group of men and women who are there to carry out the intentions and decisions of the owner. Unsurprisingly, this type of situation is self-limiting for multiple reasons. These include:

  • Lack of scalability. A business owner – like an octopus – can do a lot with his or her “arms.” However, at some point, there’s just too much to do over too wide an area. When that juncture is reached, growth stops unless the owner lets go and lets others start doing what they were hired to do.
  • Lack of leaders. Leadership team members who are great at what they do want the opportunity to use their expertise and abilities. If the owner is preventing that because of his or her need for control, these great people will leave the company for better opportunities elsewhere.
  • Lack of succession. Most business owners want to retire eventually. However, when they do, they want the business they worked so hard to build up to thrive. How is that to occur if they have always kept their “arms” in everything and have not permitted other leaders to put into practice their full skills and capabilities?

Why don’t business owners follow the octopus’ example and let go? Ninety-nine percent of the time, it comes down to this: a desire for control, and a lack of trust. Now, this does not make the business owner a “bad” person. Incredibly kind, generous, caring, fantastic people may be reluctant to let go. After all, the business is their brainchild and represents years of intense effort and even sacrifice. It’s hard to trust others with something so precious! But releasing control and trusting others is necessary for the long-term health and well-being of the business.

5 Steps to Pull Back Your “Arms”
If you are a business owner who needs to pull back some of your “arms,” here are five steps to help you let go:

  • Engage in self-reflection. Ask yourself why you want to keep your “arms” in everything, how that is hampering forward progress, and what needs to change.
  • Cast a new vision. Cast a new vision for yourself and the company; a vision
    that highlights a healthy, engaged, active leadership team capable of bringing
    the business to new heights as a result of their combined abilities.
  • Give change a real shot. Saying something needs to change is one thing –
    doing it is another. So, take a deep breath and start to put in place new ways
    of interacting with and trusting your leadership team to help you run the
    business.
  • Accept that change is uncomfortable. As you let go, your “arms” will get
    twitchy, guaranteed! Keep them pulled back. Being uncomfortable is part of
    the process.
  • Cultivate a positive outlook. Believe that letting go will bring positive
    change and that the future is going to be even better than the past!

Remember, you have done a great job as a business owner bringing your company to where it is today. In the process, you undoubtedly learned new skills to overcome obstacles. Letting go is simply another skill. When you truly understand how letting go will help overcome obstacles that are preventing your business from continuing its upward trajectory, it will become easier to retract your “arms.” Once you do, there is no limit to the success your business can achieve!

Do you need help in letting go? Contact me today: www.eosworldwide.com/wendy-waldron

I’ll work with you and your leadership team to move toward an outstanding future!