Business Development: Deciding What Business to Pursue.

Sometimes you see opportunities to go into business for yourself. Sometimes those opportunities come out of the woodworks and you are overwhelmed. Maybe you have 100 ideas about a new business to start and don’t know which one to pursue. When that starts to happen I recommend you conduct a personal SWOT analysis. SWOT is an analytic tool to determine strengths and weaknesses, usually, your business versus your competitors. In this case, it’s just you so the SWOT stands for Strengths, Weaknesses, Opportunities, and Talents (as opposed to threats in the original SWOT). We will go step by step through a personal SWOT analysis and get you on the road to figuring out what business you should be going after. Remember, this isn’t the only step, if you decide on a business you still need to do a Market Analysis to determine if it’s a viable business.Copy of DSS SWOT

Strengths

You are going to examine what advantages you have that others may not. What education have you received, what certifications? Are there skills you have that you do better than other people? What have you accomplished that sets you apart? What kind of a network have you built?

Weaknesses

This is examining your weak points. Failure to understand where we need help can sink us fast, so be honest with yourself. What don’t you like doing or aren’t very good at doing so you avoid it? What skills do you still need to work on? Where are your education gaps? What are your negative work habits? Are there personality traits that limit you?

Opportunities

Looking at the business and personal opening that might be available to you. In what industries are you connected? How extensive is your network? How is your network constructed, as in what types of people? What equipment do you own or have easy access to? What are your capital resources?

Talents

These are your inherent abilities rather than trained or learned skills. What are you naturally good at? What do you do that feels good? What kind of tasks give you a sense of accomplishment? What do you get compliments on that isn’t something you learned?

Once you have all of these written down a better picture of what business you should be involved in will come to light. The more strengths, talents, and opportunities that align the better your chances of sticking to it and making something a viable business. Get a couple of ideas together then start your market analysis to see where your efforts should go. Keep in mind you don’t have to start at the top, get a minimally viable product and start from there.

 

Direct Sales Boot Camp: The Do’s and Don’ts of DS

The Direct Sales landscape can be tricky to navigate for new and old reps alike. I have put together a list of things to do and not to do as you run your DS business. Theses are proven strategies I have seen work with multiple companies and reps.

 

Do's and Don'ts of Direct Sales.png

Should you Hire a Business Coach?

My Business Adviser is tooting its own horn a bit this week and talking about how I can help you. I personally have never run across a business that didn’t need some level of business coaching….maybe not me, but they needed help from someone. We all try to do everything ourselves with mixed results. We can’t be experts at everything which is why we bring in other people to help out. Myself, I have to have a brilliant accountant because that is my weak point. I know the basics but my accountant fills in the knowledge gaps for me. Here is a quick infographic talking about Business Coaches in general. I will share stories this week as well and feel free to send me any questions you might have.

 

Should You Have A Business Coach

The Most Important Question About Your Social Media Marketing

 

There is no end the the advice you can find on social media. Our Facebook page is filled with tips and tricks to get likes and shares. Everywhere you turn there is the “latest and greatest” system for getting your content seen. But what is the number one question you need to ask yourself about your social media campaign? Before you post anything, what question should be on your mind?In Box

What do I want to get out of my social media campaign?

I don’t think we can overstate how important the answer to this question is. This will define what sites you post to be it Facebook, Twitter or others. This will dictate what type of content you produce like long form blogs or super short tweets. It will also inform you of how to promote it. This  goal can shift over time as the needs of your business change. At first it may be about awareness but shift into deepening your customer relationships as you get better known. The biggest point is that the answer to this question should be clear in your mind every time you post. Every single post should point back to the purpose of your social media campaign. Without this information, it’s better to post nothing.