| Greetings!
Welcome to the April edition of Build and Balance. We're still in recession. When this great recession ends (which I hope will be soon) I'm looking forward to a decade of prosperity. In the meantime we have to continue to slog through this trying period with determination to continue to build our businesses and balance our lives just as we would at any time. Yes, we may have to work twice as hard to get sales, but by golly, we'll do that. And we'll do it with a smile and with deep appreciation for those who want to do business with us.
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Is it clear who your customer is?
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In this economy we are susceptible to the desire to serve anyone and everyone who can use our product or service. There isn't anything wrong with this type of thinking per se. It's what can happen to our business if we lose focus on our target market that's the danger.
Let me expound on this. I talk to multiple business owners every week and I often ask during our first conversation, "Who is your ideal customer?" Most business owners know the answer to this question. But then when I start to look at their marketing to see if they are speaking to that ideal customer and their needs, things start to get a little fuzzy.
You see, we often worry that if we target a certain customer type with our messaging, then we're apt to not get any other type of customer. Well, that may be true. So, you should be sure that your ideal customer represents a large enough population that they could support your business. Otherwise, you have a target market not worth serving.
If your target market is worth serving, then you owe it to them to be clearly focused on serving them to the best of your ability with a product or service that will satisfy them better than anything else. And let this market know you're there to service them with messaging that clearly targets them.
Here's any example from my own business. I created a flyer for businesses in Burlingame that will be sent out in May by the Chamber of Commerce there. In the copy I specifically state that I serve 'small' business owners. Might I lose attracting medium and large business owners with this messaging? Yes, I very well could. But, they're not my target market. Small businesses are. And since there are hundreds of small businesses in Burlingame, I have plenty of prospective customers to serve. I don't need the Marriott hotel calling me.
If you disagree with me and you are targeting many disparate groups with your marketing, contact me and let's talk about it. I'd like to learn why it's best for your business to try to be all things to all people. If you're not sure who your target market is, or how to reach the market you're targeting, contact me and let's talk about that.
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The best investment in this economy? Yourself.
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There are a lot of people who are uncertain of how to invest their money right now. I don't blame them. I do have a suggestion though. Invest in yourself. We can never be finished learning. We must be lifelong learners if we are to always be at our best to serve our customers.
This is a great time to invest in some training for yourself since prices very well may be reduced. Yet, the value to you should be no different. Don't make the mistake of thinking you can't afford to invest in your own development. Continually sharpening your saw is one of the 7 Habits of Highly Effective People and for good reason. Those that invest in their ongoing development will eventually get quite an edge over their competition. Just get a little bit better each year and you'll make huge leaps over time.
I'm going to a public speaking school in June in Las Vegas. If you want to join me there, let me know and I'll see if I can get you a discount on the tuition. At the very least I can buy you lunch.
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Time saving tip: Single Handling
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This month's tip comes from Brian Tracy, one of my favorite teachers. We live in an age where multi-tasking is the norm. But is it the best way to get something of real value done? When's the last time you had a really meaningful talk with someone while you were doing something else? If you're working on a project, work just on that project until it's done or you've reached a significant milestone. Once you get started with something difficult it gets easier as you go along. If you stop, then you lose that momentum and have to regain it when you start again. Also, if you're trying to do several things at once, then you may get a mediocre result instead of a stellar one. Single handle important tasks. In the long run you'll save time.
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Thanks for reading this month's issue. I want to express my deep appreciation to those of you who are doing business with me or referring business to me. I could not be here without you. Thank you.
Remember that true fulfillment comes when you build and balance.
Sincerely,
Michael Neuendorff The Growth Coach |
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The presentation of this coupon entitles the bearer to 25% bonus time on a paid consulting or coaching engagement. This includes 1on1 Business Coaching, Marketing Consulting, or Public Speaking Coaching. This bonus may only be applied once, but there is no limit to the length of appointment it can be applied to. This coupon may not be combined with any other promotion or discount. This offer may be transferred to another individual.
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| Your Growth Coach |
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Michael Neuendorff is ready to work with you to achieve your business goals in 2009. Don't put off until tomorrow what you can do today. Let's start right now!
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| My Network Spotlight |
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I believe in the power of a strong network and will make it a point to provide professional referrals to anyone who needs products and services I do not provide. In each issue of Build and Balance I'll spotlight people in my network.If you need a product or service not featured, don't hesitate to contact me for a referral to a qualified professional.
Career Placement and Recruitement Services PAC HR SolutionsManisha Patel 650.594.2900
Catering Dynora Catering Service Lidia Marchetti 650.347.8359
Housecleaning CasaBella Housecleaning Services Jessica Ortega 650.921.4581
Landscape Services Weeds by Wilk Sue Wilk 650.888.2120
Mercedes Benz Repair MB Garage Janet Stewart Migliore 650.349.2744
Personal Training
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