Business Development, Sales & Marketing

• Prev
• 1 of 6
• Next

In order to grow your business, solid Business Development, Sales & Marketing strategies need to be developed and implemented. In this article, JSuccess Experts share their expertise on these topics.

 

BUSINESS DEVELOPMENT

Core Focus

By Rachel Lebowitz, Professional EOS Implementor

Everyone is in business to make money.

Yet there is only so much you can incentivize people with money. No matter how much money you are giving to your employees as compensation, incentives, and bonuses, they are most probably calculating how much more you are making and taking out of the business.

Everyone wants to hire superstars and winners, but if you are hiring winners, they want to know what they are winning. What is in it for them?

People like and want money, because of the emotional gratification you get when you have money. What it gets you. A nicer car? A bigger house? More recognition? Security?

Therefore, it is important to inspire your people beyond money. Mayo Clinic pays doctors 10% below market value, yet they have the most dedicated staff and are one of the top medical clinics in the United States.

How is that? Because their employees have deeply bought into the company’s mission.

Money isn’t the only compensation employees receive from work. There are actually five ways we compensate employees in the workplace.

• Financially - Paying them a fair price for their value.
• Emotionally - Do they love what they do? Everyone wants to GWC their seat! (Get it, want it, and have the capacity). People enjoy feeling accomplished and fulfilled.
• Socially - Is the work environment a nice place to work? Does everyone align with the company’s core values and fit like a glove as a cohesive team?
• Psychologically - Do your employees see opportunities for growth within your business?
• Spiritually - It is a human need to work for a greater purpose. To be a part of something bigger. Do your employees share in the company’s mission?

Now you see the importance of creating a “mission” for your company, also known as a “Core Focus” in EOS terms.

What other purpose does your core focus serve?

Your core focus serves as a narrative for your business’ WHY.

A business owner’s core focus is deeply personal.

You cannot separate business from personal. Contrary to popular belief, business is deeply personal. We all have a reason for going into business and that is deeply personal. We all have a purpose, cause or passion that drives us beyond money. We may not be aware of it or ready to admit it.

Your core focus is also used as a tool to filter out the right fit clients, consumers, and employees. Does this employee resonate with my mission? Does this customer appreciate why we do what we do? If they don’t, you will never see eye to eye and never be able to satisfy them.

To conclude, your company’s mission statement:

• Is stated in three to seven words
• Is written in simple language
• Is big and hold
• Has an a-ha effect
• Comes from the heart
• Involves everyone
• Goes beyond money
• Is bigger than a goal

 

SALES

By David Hochberg, Sales Coaching, CEO, DH Group

Let’s Go Client Hunting – Q&A

Q: Hi David, I found your strategy for identifying ideal clients through contrasting positive and negative client experiences fascinating. Could you elaborate on how a business owner can effectively leverage their network to connect with these ideal clients? Are there specific tactics or steps they can take to reach out to potential clients within their network or extended connections?

A: Great question. Networks are incredibly powerful.

Are you familiar with the concept “six degrees of separation?” In the 1960’s, Stanley Milgram, a social psychologist, conducted an experiment on social networks between people and discovered that you are only six people away from anyone you want to connect with!

Here are some strategies for leveraging your network.

Find the clients you want to work with and use your network to reach them. With this approach, you start with finding your ideal clients. Don’t worry whether you are connected to them. Your goal is to simply find them, wherever they are.

Once you have a list of clients, turn to your network. Start asking members of your network if they are connected with your ideal client. If they are, simply ask them to make the introduction. If not, ask them who they can connect you to that might know your ideal clients. With this approach, you don’t need to be connected with your ideal clients. Your network will help you do that.

Use your network to generate client leads. Start with the easy connections, the close ones. Invite your network connections to refer a client to you. If they don’t have any referrals, ask them to connect you to someone who might have a referral. You are focused on leads developing and evolving as you explore deeper into your network. Keep connecting until client leads start appearing.

 

You can use both these approaches at the same time to really leverage your outcome. Good luck out there!

 

MARKETING

What is Branding?

By Yisroel H. Levovitz, CEO, Profound Business

Branding is your promise to your customers. Branding is your mission statement to your potential clients. Branding is the essence of what makes you different from your competitor. Branding is an idea, a mission, an attitude, and an internal thought process that must be internalized and honed before it can be put out there and projected.

 

Branding is something you do between you and yourself, regardless of the audience (sort of like 'finding yourself'), and once that is solidified it can be conveyed to as large an audience as possible via steady and proper tactics.

Small businesses often cannot compete with big businesses in method, but in form their branding can be just as big, if not bigger. In fact, the passion beneath the surface of many small businesses often lends itself to better and more authentic branding.

Large companies have the advantage of recognized trademarks, but small businesses have the advantage when it comes to “making their mark,” especially in their local communities.

Once your branding is established, then you must embark on the long and steady road of communicating that branding via a cohesive branding strategy.

So, how do you create a strategy that works? Ah, the million-dollar question!

Tune in to the next article, as we will tackle that aspect of things and provide some practical strategy and guidance.

Conclusion: By following the professional guidance in this article, business leaders can learn to implement a winning business development plan for their businesses, improve their sales & marketing strategies, and see their businesses grow and thrive b’siyata diShmaya!

Are you looking for a consultant, coach, mentor, or course? Learn from JSuccess vetted experts by visiting jsuccess.net, and check out our new podcast on the go! Call, (732) 677-4809, or listen on your favorite podcast channel by visiting jewishpodcasts.fm/jsuccess. For questions and comments, call or text (732) 677-4809, or email This email address is being protected from spambots. You need JavaScript enabled to view it..