Small Steps for Big Success

“If you think you’re too small to have an impact, try going to bed with a mosquito.” – Anita Roddick

When it comes right down to it, there are only a few variables in business that dictate whether you are financially successful or not. The same goes with marketing.

After getting to know hundreds of small business owners over the last few years, I’m convinced that one of the biggest obstacles we face is psychological…and that is our perspective on where we fit.

You may have heard the term limiting belief. It is tossed around like confetti these days, and generally means when your mind trips you up from taking the steps that are good for you based on a pattern of unhelpful thinking.

Of course, you might not recognize when your beliefs are limiting you, or be able to distinguish between a limiting belief, and a fact.

Here are some examples of unhelpful thinking I encounter with business owners all the time, particularly when they are new to business, or when they are second-guessing a business they’ve run and are considering if it’s time to do something new.

Mindset Trap #1: You have to appear big to be credible.

This is the tricky demon that causes us to use “we” instead of “I” or makes our business sound like a conglomerate instead of a one-person shop run from the home. One person I know even uses a false email in the name of an imaginary assistant. Trying to appear bigger undermines the single-focus, highly personal commitment to customer service and personal attention that is the advantage of a very small business.

Mindset Trap#2: You have to have a huge following.

Especially if you market your business online, you will be brainwashed into thinking that “the money is in the list.” Yes, the money is in the list. But it’s what you do with “the list” that matters. It is far better to have a small list of devoted followers out there purchasing and recommending your services that 10,000 who mostly don’t open your email and can’t recall how they got on your list in the first place. And guess what? Internet and email marketing is only a tool. It’s not the business. In fact, you can still build a profitable business in 2010 without it. Really!

Mindset Trap #3: You have to Be Everything to your clients and prospects.

This is a biggie. Many of us assume we have to anticipate our clients’ every need and provide a comprehensive range of services for each one. We promote a laundry list of services and promise to throw everything in but the kitchen sink. What your ideal client wants from you is to solve that one burning problem that only you can solve. You might have a few choices that suit the various needs of a client, but it should be crystal clear what each choice is for. Most importantly, these choices need to make sense to your client, not to you.

Mindset Trap #4: You have to Be Somebody like Everybody Else.

A marketing colleague said this very succinctly. Instead of describing yourself as “I am a (insert – generally some bland, generic title like consultant or coach)” your goal is to be “I am the (insert – the person who solves X problem by doing Y so that people experience Z)”.  So often we worry so much about what “everyone else” in our industry is doing that we fail to focus on what we do that is truly unique. I am a firm believer that choosing your market, determining your services and marketing to your people is the way to achieve business nirvana – or as Barbara Winter calls it – creating a natural monopoly.

Mindset Trap #5: You have to do more to get more.

Once again, simplicity is key. The more pinpointed and focused your business and your marketing is, the more effective you will be. Having a very simple plan, and concentrating your efforts on those ideal clients and attracting more of them will take you further than a expending a bunch of frenetic energy. And remembering that it’s the tiniest of steps that you take each day that get you to your destination. Far too often, we expect quantum leaps and lament that we’re not getting anywhere, when the momentum is truly in the minutiae.

How to Make Your Last Employer Your First Client

If you’re an aspiring entrepreneur who is still working for someone else, and you’re desperately dreaming of the day you can blaze your own trail, perhaps it isn’t so far off in your future after all. Your very first client could be right under your nose.

Many corporate fugitives transition from the salary world into self employment by inching out the door slowly – instead of slamming it shut. Negotiating a contract to provide services for your employer is a smart strategy that is often a win-win for both sides, if you can set it up right.

This works really well especially if you are in a high salary, high responsibility role and have been with your employer for a significant amount of time. Typically, the clients I work with tend to have at least 15 years of experience in their profession and have risen up through the ranks to senior management or executive level. What they have is knowledge, depth, maturity and experience within their industry and within the company – all things that are highly valuable to an employer.

Finding an alternative to losing you is usually in their best interest. Replacing a senior role takes time, and even if there is an immediate hiring, transitions are costly. By the time a new person is up to speed, the company will have invested tens of thousands in salary, benefits, direct training and lost time of others’ pitching in to help.

With a negotiated exit, on the other hand, the employer maintains the value they have already invested in you. You can make the transition easier for them, important priorities can still be accomplished, and they already have the best person for the job advising them on how to change it – and that person is you.

From your perspective, it allows you to soften the blow of leaving (which is exhilarating and scary all at the same time), provides you with a financial cushion, keeps a level of familiarity in the brave new world you are entering, and maintains your existing professional network. Provided you set it up right, this network could lead to a new source of referrals as well. Even though we joke about breaking free, the truth is, that for most of us (myself included), we did not hate our work. What we hated was working for someone else. So finding a solution that allows you to continue the relationship under different terms is a wonderful thing.

If this is something you’d like to explore, the best way to start is by assessing options you can propose, and when you are ready, request a meeting. This is not the time to go in with a half-baked idea. You will have only one chance to pitch this option, so follow the old carpenters’ motto of “measure twice, cut once.”

Here are some tips:

• Pretend you’re an outside consultant coming in with the task of looking at priorities for your role and coming up with options to redistribute work.
• Look for options that add value. Typical examples include: work than can be easily outsourced; priority projects that require more focus (all the projects that are burdening your department); and suggestions for changes that could improve existing processes.
• Look for projects that can be easily carved out. Your knowledge of the company and your skill set will allow this work to be contracted out. Conversely, managing people in the course of their regular duties or carrying over day-to-day operations does not work for two reasons: one, you generally need to be on site and in direct immersion with the company for this type of work; and two, that kind of work would not meet the definition of independent contractor for taxation and employment status purposes (if you’re not clear on the distinction between an employee and an independent business owner performing a contract, make sure you research this with the IRS or taxation authority. If you are later found to be more like an employee than an independent, you and the company can be held liable and required to pay back taxes, penalties, etc.)
• When you’ve identified a solid list, put some prices on it. An average consultant would tend to charge $150-$250 per hour (whether or not they bill hourly, this is a fair guideline to use). By crunching some numbers and identifying the projects, you will often be able to “save” the company money. Paying someone a flat fee to complete a certain number of projects is usually going to be less than what they are paying you now in salary plus benefits.
• When you’re ready to meet, go in with the intention to come up with an arrangement that works for both of you, rather than thinking you’re making a desperate plea that thinly disguises your burning desire to get as far away as possible. Provided you are a valued employee, you have more leverage than you think! They are not doing you a favor to give you a contract, they are making a smart business decision, as you are.
• Time your discussion wisely. It’s not a good idea to put all of your eggs in this one basket. Spend time in the months ahead fleshing out your proposed new business. Whether you take clients on the side (this doesn’t work in all businesses, especially if you are staying within your profession), or just getting the groundwork ready, you need to have a solid plan before you quit. Although your employer may end up being your first client, having them be your only prospect is not the best idea.

Want to use this article? You can as long as you include this footer: Sherri Garrity is the Chief Corporate Fugitive and creator of the Five Keys Success System™  for ex-corporate employees and aspiring entrepreneurs who want to break free from the confines of their corporate experience and live outside of the ordinary. The Corporate Fugitive system demystifies the business of setting up, managing, marketing and growing a successful and extraordinary business. Visit www.corporatefugitive.com for information and step-by-step resources to take you from overwhelmed employee to extraordinary entrepreneur.