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Wednesday, June 5, 2013

Three Ways to Get Your Email Answered First


Dave Lavinsky, Contributor
 
It’s a situation we’ve all faced at one point or another: you need to send an e-mail to some company or person in order to place a request, extend a business offer, or obtain information that you need.  And you need a response; the sooner the better.
Chances are that the person you are contacting receives an innumerable number of e-mails per day, and your communication gets lost among the horde of similar requests.  How many times have you called someone and asked “Did you see my email” only to be told “I have about 200 emails I haven’t been able to check yet”.
This can be frustrating.  Email is a primary form of communication in business. Not connecting the way you need to can be damaging to your business. The following tips will help you in this regard
Subject Lines
A good subject line will increase the open rate of your email. Put yourself in the shoes of the recipient of an email for a moment. You’ve received two e-mails. Compare these subject lines:
  • A proposal to meet next week vs. I’d like to buy you lunch on the 13th
  • A Sales Seminar That Increases Sales vs. Our commitment to boost your sales by 10% in 30 days
  • Hello and Good Morning vs. Your Accountant, Jack Smith, told me to contact you
The latter subject lines in each case are edgier, more benefit oriented, and/or more specific. They are thus likely to stand out from the usual email chatter and get opened. Go for different, bold, personal phrases that will jolt the reader’s mind out of “scan mode.”
The Introduction
Next, make sure the introduction in the body of the email begins with an immediately attractive line.  It could, for instance, read like this: Based on your interest in X, you should know about Y.
The intent of the introduction is to grab the attention of the reader immediately. Doing so by tying into something you already know the reader is already interested is a great way to accomplish this.
The Body
A good introduction is simply not going to cut it all by itself. You need to make sure the body of the e-mail is equally readable and attention-getting.
When you write the body of the e-mail, don’t get caught up in needless, superfluous verbiage. Running on about a subject or going on a tangent is going to bore the reader, not attract and retain their attention. Keep your sentences and paragraphs to the point and relatively short. Make sure that all the relevant details – financial figures, yearly reports, and so on – can be easily found, not buried under mountains of text. Importantly, these figures should provide proof that it’s worth the reader’s time to engage with you.
The Call to Action
Once you’ve got the introduction and body down, proceed with the conclusion. This is often the most important part of any communication. A properly written conclusion will compel the reader to take immediate and serious action about the ideas, proposals, and/or suggestions laid out within the email. If you’re interested in a prompt, favorable response, you’ll want to conclude your e-mail with what is called a “call to action.”
A “call to action” is a request for the reader to make a decision or take an action.
For example, ending with: Let’s set up a brief call to discuss how this can benefit you. Right now, I’m free to discuss at 3PM on Friday. Please confirm that this time works, and the best number to reach you.
Summary
Let’s review. You need to increase the chances of having your email opened by using a bold, specific, and creative subject line.  Then keep your reader’s attention by starting with a powerful introduction, followed by precise content that proves your merit. Finally, close your email with a compelling call to action.
Finally, if you are sending similar emails to a group of prospects over time, constantly tweak and test your approach. For example, try two different subject lines and calls to action and see which one gets the best response. Whichever version wins becomes your “control” that you test against next time. Over time, you’ll develop a winning email that gets you great results.


 Source: www.forbes.com

Tuesday, June 4, 2013

Increasing Business with Strategic Partners



By Laura Lake

In business, it's important to align yourself with strategic alliances. For example, this week I received a call in my office of someone seeking marketing advice. "Laura, I have a company that has a small mailing list of approximately 2000 people. This list is broken out into two groups - one being those that have purchased our product and the other are those who have not yet purchased but have interest in a contest that we were running. What can I do with this list?"
While the company carries an interesting product, it is only one product. So how can we market to this list? More than likely the people that have purchased the item and they are not in need of an additional one at this time.
Many small businesses are in this same situation they offer one product or perhaps one service and do not the have or time to create new offers - so what do you do with those lists that you've accumulated?
The answer is easier than you think, you find other companies that cater to the same audience that you do, but are not direct competitors. For example, let's say that you are specializing in renting wedding gowns - your list has grown and you get fantastic referral business but how can you drive revenue from past customers. You find another supplier or merchant that is catering to your same target market. Take for example a photographer or catering service. Your list would of interest to them and their list could be of interest to you. Although, timing would be the key factor in this situation.
Let's take a look at another scenario. You specialize in selling art. The artwork that you sell has a specific target market. They are professionals with an income range of $150,000 to $300,000 per year. The pieces you sell are very rare therefore carry a steep price tag. While you continually market to your clients and enjoy repeat business, you'd like some fresh prospects. How about finding an interior decorating that is interested in joint venturing with you. It's a win-win. You both exchange lists and send out a special offering to the interior decorator's clients and she does the same. You could also just create a special offering and split the advertising and marketing costs.
The key is knowing who your target market is. Learn who they are:
  • How old are they?
  • What is their income range?
  • What are their occupations?
  • What other interests do they have?
If you don't have the answers to these questions it's time to create a market survey and find out this information. By not having it you are wasting opportunities that could increase your revenue and drive you new business at minimal cost.
When you've gathered the information above it's time to so some brainstorming. Who else markets to these people? What other businesses around me have the same target market?
Then pick up the phone and get in touch with these companies. Ask them if they would be interested in joint venturing with you and creating a win-win business situation. If they say no, time to move on to the next. There will be some who are not interested - but to be honest you find more that are.


Monday, June 3, 2013

Does Your Business Have Strategic Partners? Why Not?



Dave Lavinsky, Contributor 

One of the biggest mistakes business owners make is trying to do everything alone.  To combat this error, business owners must hire and train the right employees. In addition, they should leverage strategic partners.
So what is a strategic partner? A strategic partner is another business with whom you enter into an agreement that aims to help both of you achieve more success.
Below are several types of strategic partners that you might consider for your business.

Strategic Marketing Partners
Effective marketing is one of the most important keys to a successful business.  Without a proper marketing strategy, customers will never be aware of a business or its location, products, or services.  The problem with marketing is that it can actually hurt a business if done incorrectly (for example, if adverting costs exceed gross margins from advertising).
Developing strategic marketing partners can help you grow your business at a very low cost. For example, if the partner is in a complementary business, you could refer clients between one another. Both partners would increase revenues with no additional advertising costs.

Strategic Financial Partners
Strategic partners can fill a number of financial roles.  They can be accountants, bankers, investors or financial advisers. Their purpose is to help monitor the flow of your business’ money and come up with new solutions which increase the amount of money available to you.
Revenue is the life blood of any business but keeping a constant eye on the flow of money can be a full time job.  This is why financial partners are incredibly important.

Strategic Suppliers
Nearly all businesses will end up dealing with suppliers at some time or another.  These partners can be manufacturers, distributors, or vendors and they will supply your business with everything it needs.  These needs may range from complex raw materials to simple, yet critical every day office supplies.
Developing strategic partnerships with suppliers has a number of benefits.  Working closely with suppliers will ensure that everything is delivered properly and might even lead to special discounts and lower prices. Most importantly, strategic partnerships with suppliers could result in them creating new products tailored to your specific needs that give you competitive advantage.

Strategic Technology Partners
The modern world is heavily reliant on technology and no business can hope to succeed without strategic technology partners.  These can be the people who set up and fix office computers, who design and implement office networks, who create custom software to allow your business to run more efficiently, or even the people who design and run your website.
These partners are incredibly important and developing a relationship with them ensures that your business has dedicated technology experts (particularly if technology is not your core competence) who understand the specific needs of your business.

Building Strategic Partnerships
The first step to building a strategic partnership is to identify which firms could help you achieve key goals (e.g., get more customers, lower fulfillment costs, etc.) and/or otherwise give you competitive advantage.
Then, start reaching out to these firms. While it will take time, once you secure these partnerships, your business’ revenues and profits can start to grow. And, if you make these partnerships exclusive, you can gain critical competitive advantage.

Source:

Thursday, May 30, 2013

Top 10 Qualities That Make A Great Leader Part II

 Part II of II

Commitment
If you expect your team to work hard and produce quality content, you’re going to need to lead by example. There is no greater motivation than seeing the boss down in the trenches working alongside everyone else, showing that hard work is being done on every level. By proving your commitment to the brand and your role, you will not only earn the respect of your team, but will also instill that same hardworking energy among your staff. It’s important to show your commitment not only to the work at hand, but also to your promises. If you pledged to host a holiday party, or uphold summer Fridays, keep your word. You want to create a reputation for not just working hard, but also be known as a fair leader. Once you have gained the respect of your team, they are more likely to deliver the peak amount of quality work possible.

Positive Attitude
You want to keep your team motivated towards the continued success of the company, and keep the energy levels up. Whether that means providing snacks, coffee, relationship advice, or even just an occasional beer in the office, remember that everyone on your team is a person. Keep the office mood a fine balance between productivity and playfulness.
English: Think positive
Creativity
Some decisions will not always be so clear-cut. You may be forced at times to deviate from your set course and make an on the fly decision. This is where your creativity will prove to be vital. It is during these critical situations that your team will look to you for guidance and you may be forced to make a quick decision. As a leader, its important to learn to think outside the box and to choose which of two bad choices is the best option. Don’t immediately choose the first or easiest possibility; sometimes its best to give these issues some thought, and even turn to your team for guidance. By utilizing all possible options before making a rash decision, you can typically reach the end conclusion you were aiming for.

Intuition
When leading a team through uncharted waters, there is no roadmap on what to do. Everything is uncertain, and the higher the risk, the higher the pressure. That is where your natural intuition has to kick in. Guiding your team through the process of your day-to-day tasks can be honed down to a science. But when something unexpected occurs, or you are thrown into a new scenario, your team will look to you for guidance. Drawing on past experience is a good reflex, as is reaching out to your mentors for support. Eventually though, the tough decisions will be up to you to decide and you will need to depend on your gut instinct for answers. Learning to trust yourself is as important as your team learning to trust you.

Ability to Inspire
Creating a business often involves a bit of forecasting. Especially in the beginning stages of a startup, inspiring your team to see the vision of the successes to come is vital. Make your team feel invested in the accomplishments of the company. Whether everyone owns a piece of equity, or you operate on a bonus system, generating enthusiasm for the hard work you are all putting in is so important. Being able to inspire your team is great for focusing on the future goals, but it is also important for the current issues. When you are all mired deep in work, morale is low, and energy levels are fading, recognize that everyone needs a break now and then. Acknowledge the work that everyone has dedicated and commend the team on each of their efforts. It is your job to keep spirits up, and that begins with an appreciation for the hard work.



Source: www.forbes.com

Wednesday, May 29, 2013

Top 10 Qualities That Make A Great Leader Part I

Part I of II

Having a great idea, and assembling a team to bring that concept to life is the first step in creating a successful business venture. While finding a new and unique idea is rare enough; the ability to successfully execute this idea is what separates the dreamers from the entrepreneurs. However you see yourself, whatever your age may be, as soon as you make that exciting first hire, you have taken the first steps in becoming a powerful leader. When money is tight, stress levels are high, and the visions of instant success don’t happen like you thought, it’s easy to let those emotions get to you, and thereby your team. Take a breath, calm yourself down, and remind yourself of the leader you are and would like to become. Here are some key qualities that every good leader should possess, and learn to emphasize.

Honesty
Whatever ethical plane you hold yourself to, when you are responsible for a team of people, its important to raise the bar even higher. Your business and its employees are a reflection of yourself, and if you make honest and ethical behavior a key value, your team will follow suit.


Ability to Delegate
Finessing your brand vision is essential to creating an organized and efficient business, but if you don’t learn to trust your team with that vision, you might never progress to the next stage. Its important to remember that trusting your team with your idea is a sign of strength, not weakness. Delegating tasks to the appropriate departments is one of the most important skills you can develop as your business grows. The emails and tasks will begin to pile up, and the more you stretch yourself thin, the lower the quality of your work will become, and the less you will produce.
The key to delegation is identifying the strengths of your team, and capitalizing on them. Find out what each team member enjoys doing most. Chances are if they find that task more enjoyable, they will likely put more thought and effort behind it. This will not only prove to your team that you trust and believe in them, but will also free up your time to focus on the higher level tasks, that should not be delegated. It’s a fine balance, but one that will have a huge impact on the productivity of your business.

Communication
Knowing what you want accomplished may seem clear in your head, but if you try to explain it to someone else and are met with a blank expression, you know there is a problem. If this has been your experience, then you may want to focus on honing your communication skills. Being able to clearly and succinctly describe what you want done is extremely important. If you can’t relate your vision to your team, you won’t all be working towards the same goal.
Training new members and creating a productive work environment all depend on healthy lines of communication. Whether that stems from an open door policy to your office, or making it a point to talk to your staff on a daily basis, making yourself available to discuss interoffice issues is vital. Your team will learn to trust and depend on you, and will be less hesitant to work harder.

Sense of Humor
If your website crashes, you lose that major client, or your funding dries up, guiding your team through the process without panicking is as challenging as it is important. Morale is linked to productivity, and it’s your job as the team leader to instill a positive energy. That’s where your sense of humor will finally pay off. Encourage your team to laugh at the mistakes instead of crying. If you are constantly learning to find the humor in the struggles, your work environment will become a happy and healthy space, where your employees look forward to working in, rather than dreading it. Make it a point to crack jokes with your team and encourage personal discussions of weekend plans and trips. It’s these short breaks from the task at hand that help keep productivity levels high and morale even higher.

Our office is dog friendly, and we really believe it is the small, light hearted moments in the day that help keep our work creative and fresh. One tradition that we like to do and brings the team closer is we plan a fun prank on all new employees, on their first day. It breaks the ice and immediately creates that sense of familiarity.

Confidence
There may be days where the future of your brand is worrisome and things aren’t going according to plan. This is true with any business, large or small, and the most important thing is not to panic. Part of your job as a leader is to put out fires and maintain the team morale. Keep up your confidence level, and assure everyone that setbacks are natural and the important thing is to focus on the larger goal. As the leader, by staying calm and confident, you will help keep the team feeling the same. Remember, your team will take cues from you, so if you exude a level of calm damage control, your team will pick up on that feeling. The key objective is to keep everyone working and moving ahead.

To Be Continued...


source: www.forbes.com

Tuesday, May 28, 2013

Leadership

 
"management is doing things right; leadership is doing the right things." 


-Peter Drucker
American management consultant, educator, and author. 

Thursday, May 16, 2013

The Most Successful Leaders Do 15 Things Automatically, Every Day





Leadership is learned behavior that becomes unconscious and automatic over time.  For example, leaders can make several important decisions about an issue in the time it takes others to understand the question.   Many people wonder how leaders know how to make the best decisions, often under immense pressure.  The process of making these decisions comes from an accumulation of experiences and encounters with a multitude of difference circumstances, personality types and unforeseen failures.   More so, the decision making process is an acute understanding of being familiar with the cause and effect of behavioral and circumstantial patterns;  knowing the intelligence and interconnection points of the variables involved in these patterns allows a leader to confidently make decisions and project the probability of their desired outcomes.   The most successful leaders are instinctual decision makers.  Having done it so many times throughout their careers, they become immune to the pressure associated with decision making and extremely intuitive about the process of making the most strategic and best decisions. This is why most senior executives will tell you they depend strongly upon their “gut-feel” when making difficult decisions at a moment’s notice.
Beyond decision making, successful leadership across all areas becomes learned and instinctual over a period of time. Successful leaders have learned the mastery of anticipating business patterns, finding opportunities in pressure situations, serving the people they lead and overcoming hardships.   No wonder the best CEOs are paid so much money.   In 2011, salaries for the 200 top-paid CEOs rose 5 percent to a median $14.5 million per year, according to a study by compensation-data company Equilar for The New York Times.
If you are looking to advance your career into a leadership capacity and / or already assume leadership responsibilities – here are 15 things you must do automatically, every day, to be a successful leader in the workplace:
1.  Make Others Feel Safe to Speak-Up
Many times leaders intimidate their colleagues with their title and power when they walk into a room.   Successful leaders deflect attention away from themselves and encourage others to voice their opinions.  They are experts at making others feel safe to speak-up and confidently share their perspectives and points of view.   They use their executive presence to create an approachable environment.
2.  Make Decisions
Successful leaders are expert decision makers.    They either facilitate the dialogue to empower their colleagues to reach a strategic conclusion or they do it themselves.  They focus on “making things happen” at all times – decision making activities that sustain progress.   Successful leaders have mastered the art of politicking and thus don’t waste their time on issues that disrupt momentum.  They know how to make 30 decisions in 30 minutes.
3.  Communicate Expectations
Successful leaders are great communicators, and this is especially true when it comes to “performance expectations.”   In doing so, they remind their colleagues of the organization’s core values and mission statement – ensuring that their vision is properly translated and actionable objectives are properly executed.
I had a boss that managed the team by reminding us of the expectations that she had of the group.   She made it easy for the team to stay focused and on track.  The protocol she implemented – by clearly communicating expectations – increased performance and helped to identify those on the team that could not keep up with the standards she expected from us.
4.  Challenge People to Think
The most successful leaders understand their colleagues’ mindsets, capabilities and areas for improvement.  They use this knowledge/insight to challenge their teams to think and stretch them to reach for more.   These types of leaders excel in keeping their people on their toes, never allowing them to get comfortable and enabling them with the tools to grow.
If you are not thinking, you’re not learning new things.  If you’re not learning, you’re not growing – and over time becoming irrelevant in your work.
5.  Be Accountable to Others
Successful leaders allow their colleagues to manage them.  This doesn’t mean they are allowing others to control them – but rather becoming accountable to assure they are being proactive to their colleagues needs.
Beyond just mentoring and sponsoring selected employees, being accountable to others is a sign that your leader is focused more on your success than just their own.
6.  Lead by Example
Leading by example sounds easy, but few leaders are consistent with this one.   Successful leaders practice what they preach and are mindful of their actions. They know everyone is watching them and therefore are incredibly intuitive about detecting those who are observing their every move, waiting to detect a performance shortfall.
7.  Measure & Reward Performance
Great leaders always have a strong “pulse” on business performance and those people who are the performance champions. Not only do they review the numbers and measure performance ROI, they are active in acknowledging hard work and efforts (no matter the result).    Successful leaders never take consistent performers for granted and are mindful of rewarding them.
8.  Provide Continuous Feedback
Employees want their leaders to know that they are paying attention to them and they appreciate any insights along the way.  Successful leaders always provide feedback and they welcome reciprocal feedback by creating trustworthy relationships with their colleagues..   They understand the power of perspective and have learned the importance of feedback early on in their career as it has served them to enable workplace advancement.
9.  Properly Allocate and Deploy Talent
Successful leaders know their talent pool and how to use it.  They are experts at activating the capabilities of their colleagues and knowing when to deploy their unique skill sets given the circumstances at hand. 
10.  Ask Questions, Seek Counsel
Successful leaders ask questions and seek counsel all the time.  From the outside, they appear to know-it-all – yet on the inside, they have a deep thirst for knowledge and constantly are on the look-out to learn new things because of their commitment to making themselves better through the wisdom of others.
11.  Problem Solve; Avoid Procrastination
Successful leaders tackle issues head-on and know how to discover the heart of the matter at hand.    They don’t procrastinate and thus become incredibly proficient at problem solving; they learn from and don’t avoid uncomfortable circumstances (they welcome them).
Getting ahead in life is about doing the things that most people don’t like doing.
12.  Positive Energy & Attitude
Successful leaders create a positive and inspiring workplace culture.  They know how to set the tone and bring an attitude that motivates their colleagues to take action.   As such, they are likeable, respected and strong willed.  They don’t allow failures to disrupt momentum.
13.  Be a Great Teacher
Many employees in the workplace will tell you that their leaders have stopped being teachers.   Successful leaders never stop teaching because they are so self-motivated to learn themselves.  They use teaching to keep their colleagues well-informed and knowledgeable through statistics, trends, and other newsworthy items.
Successful leaders take the time to mentor their colleagues and make the investment to sponsor those who have proven they are able and eager to advance.
14.  Invest in Relationships
Successful leaders don’t focus on protecting their domain – instead they expand it by investing in mutually beneficial relationships. Successful leaders associate themselves with “lifters and other leaders” – the types of people that can broaden their sphere of influence.  Not only for their own advancement, but that of others.
Leaders share the harvest of their success to help build momentum for those around them.
15.  Genuinely Enjoy Responsibilities
Successful leaders love being leaders – not for the sake of power but for the meaningful and purposeful impact they can create.   When you have reached a senior level of leadership – it’s about your ability to serve others and this can’t be accomplished unless you genuinely enjoy what you do.
In the end, successful leaders are able to sustain their success because these 15 things ultimately allow them to increase the value of their organization’s brand – while at the same time minimize the operating risk profile.   They serve as the enablers of talent, culture and results.


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