Why time IS of the essence...

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This is one of those proverbs that I fear many of us despise.  It's usually rolled out at moments when time hasn't been 'of the essence' and for exactly that reason... we haven't had enough time.

I must confess to being an obsessive when it comes to allowing enough time, project managing timelines and so-on.  However that was not a skill I came to easily... I was in fact, time 'carefree' for many years until suddenly, I realised things just didn't happen without giving them the right time.

Why does it matter? Why is time 'of the essence'? Without it, the right people, resources or actions don't materialise... the measurables don't exist, and the outcomes, objectives and key deliverables don't happen.

Had a light-bulb moment? Write it down...

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I can't tell you how many times I've been at meetings, seminars, training sessions or simply in conversation - and heard the famous line - "oh, I thought of that too... exact same idea actually!".

The fact is - that person probably did have the exact same idea... however, the reality is, just as you're thinking of something, you can be guaranteed many others are too.  When you have a light-bulb moment [as so many of us do] - act.  Write it down, assess it briefly, and decide what to do with it.  Don't leave it in the archive of your brain, a hostage to someone else's action!

The difference between positivity and realism... and why you need both in business...

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We're all too aware of the necessity for a positive outlook in times of challenge and strain, however it's also important to be equally aware of when positivity must be tempered by realism.  You do need both!

Positivity: the power of positive thinking, the backdrop to potential, and often the route-map to success.  What about realism? it is the arbitrator,  the risk-evaluator and the clarity between positivity and possibility.

Why do you need both? Positivity acts as buoy, a support and a ballast - it's there to help you ride out the challenges and keep focused on solutions.  Realism, on the other hand, is the sensible 'head' that asks the questions that positivity often ignores.  Things like: how likely is it we'll win this project? Can we really scale this new product on our own or do we need help?  Positivity says yes to both - realism says: let's go for it, but let's also evaluate our risks and be more measured, what's our strategy and how will we do this?

Inspire yourself to action...

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Every day, we have an option - to feel motivated, to feel despondent, to feel disappointed... or to get ourselves in the right frame of mind to take action and achieve.

The entrepreneurial mindset can sometimes be compromised by incoming objections, irritations or obstacles...  It's par-for-the-course! The only way to manage these challenges is by continually developing renewed focus and inspiring yourself to action... Go to it!

Looking Back & Learning: The Lessons of Start-Up

Photo - TweakYourBiz

Having worked with start-ups and SMEs for many years now [not mentioning the years I worked in them!], I can say, undoubtedly, there are lessons to be learned from the experience of starting up.  Some are simple things - the 'shoulda, woulda, coulda' actions that would have saved time or resources.  Other lessons might have made more defining impacts on the trajectory, focus or growth of the business...

Much of the posts written about business development, planning and strategy, focus on looking forward [which is a good thing!] however a lot can be learned from what has or hasn't worked, and why that might be the case.  I'm a big fan of Eric Ries' "StartUp Lessons Learned", and find his views on innovation in start-up development laudable and forward-thinking.  Ultimately, learning from what hasn't panned out as we'd planned or hoped can provide us with rock-solid foundations for growth.

Based on many of the conversations I've had with SME clients, here are the top five "if I had my time over again" reflections, which, hopefully some of you might recognise [and act on!] or for those of you starting out,  utilise as a starting point for your business plan/ R&D:

Spent time on carving out a tactical research project [without becoming obsessive]
Typically, there are four areas start-ups simply despise at the outset: research, financial planning, marketing and business planning.  Research is normally #1 on this list.  Why? Because it involves subjecting yourself to an uncomfortable set of objectives – asking the questions of your target audience you may not want to know the answer to… doing surveys… desk research… and analysing competitors.  The reality with research? It is a VERY necessary evil.  Why? Because what you don’t know will always hurt you.  Often start-ups head in one of two directions: either into an abyss of obsessive research [which has no start or end], or the ‘head-in-the-sand’ stance [my business doesn’t need research, it’s just that amazing].
My advice? Don’t become a research obsessive; do carve out a simple, strategic plan to conduct research which is relevant, targeted and clearly identifies the defining answers you need to determine your market scope, size and long-term potential.

Refined the USP
Here’s one most businesses battle with at start-up, and during growth.  What is it, exactly, that makes us unique, different and what’s the value-add for my customers…? Well, the answer is: if you don’t know, how do you expect your customers to know?
Frequently businesses define, redefine and refine their USP – which can also change with time, depending on new offerings, products or services – revising your business model can also change your USP.
Where should I start? Think about ‘NOSE’ – customer needs and outcomes, and your solutions and evidence – what is compelling about your offering? Start with ten words and whittle it down.  Remember: your USP should be succinct and impactful.

Done the number-crunching [and sought the right financing]
A tough one, and certainly a topical issue these days.  However, not digging deep and ensuring your business has enough financial fuel in the tank could stress it beyond recovery.  Many businesses at start-up spend time on ornate, fancy spread-sheets [sometimes not developed by the people involved… tsk, tsk] which bear little or no relationship to the business’s actual finances – its projected income and outgoings.
You don’t need to be an accountant… suffice to say, you should be conservative in your projected income [based on research and planning] and somewhat more generous with your projected outgoings.  Do get help, like all other areas of start-up, if you don’t know how – ask for help from a mentor / consultant.  It’ll be worth it!

Thought bigger
This sentiment often comes with experience – and the realisation that your goals may have been set a little lower than was justified…
Get yourself some audacious aims… if your long-term vision doesn’t make you feel a little jittery, it’s probably not big enough!

Built a growth plan / strategy
Often the idea of ‘growth’ at start-up is considered too “far off” – it really isn’t considered… wrong.  Growth is the very essence of business development, and you need a plan / strategy to achieve it.
Even when you’re just getting going, know what growth looks like... and build a plan to guide you along the way.

… and finally, remember the key for any business: plan, do, review.

A Prescription of Positive Economics for Personal Financial Freedom

I first met Susan Hayes just over two years’ ago, when she was a guest speaker for the network I was running at the time.  To say Susan provides a hefty intravenous shot of positivity through everything she does, is an understatement.  However, as we all know, positivity is a vastly abused and misunderstood word these days – so it’s important to contextualise Susan’s version of it.  It’s an attitude of reality tempered by change and possibility – of newness and active engagement in making a difference in ones’ own economy.  In essence, Susan – the Positive Economist – is just the sort of person a lot of us should and could do with listening to a lot more right now.

So, when I received my copy of “The Savvy Woman’s Guide to Financial Freedom” around Christmas time, I was delighted to muse through its pages and learn more about the behemoth so many of us struggle to attain: financial freedom. 

The reality of personal finance is: we all have different objectives [as with every element of our lives] and this is something Susan clarifies right at the outset.  Hankering after what you think is financial freedom is worthless if you don’t know what your financial ‘temperature’ is.  Tackling the blockages, personal obstacles and individual fears is your next key step and from there – it’s a straightforward case of identifying the best strategy for you, the individual, to attain your personal financial freedom goals. 

Ultimately, Susan’s clear, focused and straightforward methodology is the winning foundation for this book.  Whilst you can just as easily come across Susan in the Sunday Business Post or on Vincent Browne discussing current economic issues, she is equally at home equipping women with the techniques necessary to decide what their financial aims are, and how they best go about achieving them. 

Working in a related discipline to Susan, in enterprise and economic development, I am a major advocate of strategy – in delivering projects, objectives and outcomes - and the same rationale can be taken in achieving personal goals.  “The Savvy Women’s Guide…” offers its readers a real opportunity to take their financial temperature, understand their goals and values, manage their personal ‘limiting beliefs’ and identify the best strategy for financial freedom.

When Susan appeared on TV3 shortly after the launch of the book – she was asked why she had chosen to write the book just for women – her answer was simple: that she knew their challenges best, and felt she could offer them the help they needed to achieve their financial goals.  I have to say, I think the opposite sex are missing out… but also reckon this isn’t the last book Susan will write!

I’m very fond of a quote [which has a multiple of variations] of Henry Ford’s – “whether you think that you can, or that you cannot – you’re right”.  This is true of many decisions we make in life – to start or grow a business, learn a language… or improve our financial outlook.  If you think you can’t, the chances are – you won’t.  If you think you can – you’ll identify a way in which you can.  If financial freedom is a goal of yours? Get this book.

The Real Meaning of Strategy In Business

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Normally, at this point, a blog about strategy will contain a pithy clipping from Sun Zu’s “The Art of War” … (“Tactics without strategy is the noise before defeat” is a favourite).

It’s hardly surprising that this recurring theme appears, given that Sun Zu’s statements of strategy and tactics contain very resonant themes when it comes to strategy in business.

However! The question for most businesses – SMEs in particular – is how or why strategy applies to their business (queue mutterings of “I just want to get on with it…” or “that sounds very corporate to me”).  The reality is, as Sun Zu infers, not knowing why your business is heading in any specific direction (or the role resources, objectives and plans are playing in it) is almost definitely going to bring about the wrong outcomes.  In some cases, rather unfortunately so.  It doesn’t matter whether you’re a Fortune 500 company, or a start-up operating from a shed in your back garden… without strategy, you’re likely to be setting out on a collision-course of risk and disappointment.

So, what is the real meaning of strategy in business? Opinions vary, and strategies change to suit different times in a business’s trajectory – guiding focus and resources to suit its point in the life-cycle.  From my experience, here are some key roles for any business strategy:

1. To provide you, your team and any other relevant stakeholders with clarity regarding the purpose, focus and objectives of the business
2. To ensure financial, marketing, sales and operational targets are met – clarity, again, being the key focus
3. Communication, collaboration, and cooperation: to develop buy-in, commitment and focus within your team (if you have one – if you’re a sole trader – to ensure buy-in from key stakeholders, partners, funders etc.)
4. To shore-up growth by highlighting a clear path for the future and allocating the right internal and external supports in realising same
5. To provide an effective means for challenging, evaluating and re-strategising decisions, objectives and growth – as well as business model, marketing, financial planning and other key operational mechanisms.

Obviously, there are other associated positive outcomes for businesses implementing clear strategies.   For starters, they don’t suffer from the ‘fear factor’ as often: mainly because if something lands, meteor-style out of left field – their business strategy is resilient enough for them to ‘pivot’ (as Eric Ries talks of in Lean StartUp) or adjust the sails.  Growth becomes easier to map-out and manage:  every business experiences ‘growing pains’, but they are easier to manage when the growth trajectory is clear.

So, what could strategy mean for your business? Well, you could open yourself up to the opportunities that are potentially hidden from view right now (the clarity argument), you might also be able evaluate your ‘message’ (the purpose argument) and all of a sudden, your team, stakeholders and other valuable individuals may begin to facilitate your trajectory because they get it.

Strategy acts as the blue-litmus test for your business, not simply by being put in place, but through evaluation, regular progress reviews and continual objective appraisals… re-strategising the strategy, if you will!

Don’t shy away from the ‘s’ word, it could revolutionise your business

Getting the message?

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Are you getting your own message?

Because if you're not, the chances are, your target audiences and stakeholders aren't either.

Cast your memory back to this post [What the fudge is a value proposition?] and ask yourself if you know the: value, features, benefits, compelling arguments "why you should" of your product or service... and your NOSE [customer needs and outcomes, and the solutions and evidence you can offer].

Remember: clarity is at the core of successful business. Make sure you've got it!

So why should I give a damn about strategy?

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I like to take a humorous approach to things on occasion; life [and business] can be extremely serious betimes, particularly in these more arduous economic days.

I've written, and continue to write countless blogs and articles on the subject of strategy, messaging and other  SME-related development issues.  However, I'm all-too aware that for many business people, given the many demands of business, it's a perceived waste of time or not worthwhile considering for their business.

On occasion, when I meet SME / micro-enterprise owners for mentoring / advisory meetings, the stock answer to strategy / communications queries [from me] - is "how will that make a difference?" or "sure, that wouldn't work in my business".  The reality is, a business strategy is a non-negotiable, whether you're running a food business from home, or about to establish a groundbreaking new technology company.

Don't use excuses... you've got to make time to grow, to evaluate potential and to remain, at all times, aware of opportunities.  Strategy underpins all these objectives, and keeps you, your team and any other key people 'on message' and tuned in to what it is you're setting out to do.

Begin with a straightforward 'mapping' exercise... starting with where the business is now [or "as is"] versus the projected 'what good looks like' of your business.  Now, that wasn't so scary? 

Map out goals, key people, timelines and 'checkpoints'... be realistic, but stretch yourself too...

... and hey, presto, you've just started to build a strategy.  Giving you clarity, focus and direction.  It wasn't that bad after all, now was it?

Why clarity should be your watch-word...

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Definition: the state of being easy to see, hear or understand. 

Clarity is key to business success: clarity of strategy, clarity of message, clarity of stakeholder buy-in, clarity of growth plan... of targets, customers, potential and ongoing development.

Make sure you have absolute clarity.

More? Check this out... 

The Possibility of Failure

More and more in recent times I’ve found myself turning the notion of business failure over in my mind.  Mainly because,  even at the pinnacle moments of success, we all still have that little pinch or pang of fear that it might just go wrong.  In some respects, this isn’t always a bad thing – indeed I would be an advocate of nurturing a little edginess to stay sharp... however, the extreme fear factor is one to watch.

Last year, Kehlan Kirwan, Brian Cleary and I discussed business failure on several occasions on the Small Business Show.  We spoke about the impact of the constant “drip-feed” of figures and stats, new taxation and other incremental economic changes on the SME owner – constantly battling a tidal flow of negativity and the attitudinal norms which exist in our country. These norms can often shape someone’s decision to fold, abandon or reinvent.  The reality is, in every challenge is opportunity – but do we give people the chance to see it?

In 2010, the SFA reported that one in five people feared starting a business on the basis of failure and bankruptcy.  Given that SMEs are held as the ‘backbone’ of the economy – this aversion to start-up on the basis of failure points to a deep concern regarding the ramifications of business closure.  And why would this be? Well, for starters,  entrepreneurs with business failures / closures are ‘virtually ignored’ [Irish Examiner, 2012], and in most cases suffer being tarred with a ‘failure brush’ which means they are bad news for financiers, banks and other institutions.

I must make it clear that this is not to suggest that financing every business idea with absolute abandon and zero due dilligence is the right attitude – however, a more clear understanding of the nature of SME development is key.  For an attitudinal comparison, it’s worth noting the fabled ‘unique nurturing environment’ of Silicon Valley, which provides a very different attitude to failure [Brown, 2008].  In this context, it is highlighted as exemplary in the view that “attitudes to financial risk and the acceptance of the possibility of failure are vital ingredients for innovation”.

Cultural Attitudes

There is no ignoring the fact that entrepreneurial capability is strong in Ireland, but our cultural attitude, on the other hand, is not so strong.
What follows is my aforementioned colleague, Kehlan Kirwan’s story of possibility in failure.  I think it’s a brave and clear testament of just why change is paramount, in our attitude to the possibility of failure:

I came back from England to start a new business. A business magazine designed just for SMEs. In hindsight it was the wrong time. It was 2010 and advertising in the media was going through its worst slump ever. Eventually we had to stop and put an end to it.

But in that time we started doing podcasts on our website to generate more content for our readers.  Along with a good friend, Conn O’Muineachain, we developed a podcast series.
Fast forward to today, where I produce and present the Small Business Show alongside Olwen and Brian. It’s broadcast every Saturday and has grown to over 21,000 listeners a week. Would we be here if the magazine didn’t fail?

I have never seen the magazine closure as a failure. It gave me new insights and new avenues to explore. We are now looking at re-branding and introducing a new style of video presentation for businesses to use on their website, social media or Youtube accounts.

When your business fails, you are not a failure. It can be difficult to believe that failure can bring you somewhere better, but it can. We learn by failing not by getting things right all the time.
Here in Ireland we have an inherent belief that people who fail in business are themselves, failures, destined to forever be failures. But when we look at other countries, like the USA, in many circles failing in business is a badge of honour. Offered up like a cup coffee -  ‘Yeah I failed, but look at what I learned’.

Leadership and Communications Consultant, Susan Tardinico, offers an insight into this. She says that failing is about taking stock and learning:
“Look at the failure analytically — indeed, curiously — suspending feelings of anger, frustration, blame or regret. Why did you fail? What might have produced a better outcome? Was the failure completely beyond your control? After gathering the facts, step back and ask yourself, what did I learn from this? Think about how you will apply this newfound insight going forward.”

Unless we learn to embrace failure in Ireland, we cannot foster ‘entrepreneurial spirit’. We need to help people recycle their entrepreneurial talents into new ventures, startups and ideas. It brings with it a new way of looking at problems, from new angles and with renewed impetus . We need to learn from our failures, not hold them against people like damaged goods. Failure is only failure when you fail to learn from your mistakes.

Thought for February: Keep pushing the boat out...

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A phrase, no doubt, we've all heard many times during the course of our lives! Yet it also has several meanings, not all of which are terribly positive.   If you seek a definition of 'pushing the boat out', you'll find that it is derived from an act of generosity where a boat is beached and is too large for a seaman to re-float alone.  Therefore pushing the boat out became synonymous with acts of generosity or, in some cases, being overly so, and in ones' own favour! If you're really into exploring the derivation of this proverb, there's a whole raft of them [pardon the pun] available.  However, that isn't really the point of this post... so I'll move on!

Probably almost two years' ago, in the course of a Twitter conversation with Pádraig Ó Ceidigh, this old proverb re-emerged with a new sense of significance, and I'm afraid to say, Pádraig, I've been using it again recently!

What did it mean to me then? Simply - to keep my eyes wide open to opportunity [nice link to that blog, eh?] - to "live and not weaken" and most importantly - to remain focused on the task at hand.  Entrepreneurship can be a pretty turbulent journey, with plenty of detours along the way, but if it's the right road for you, you'll almost certainly know.  Appreciate and understand the knocks, why they've happened, and how you might negotiate them next time - but don't give up... keep pushing the boat out.

Growing Real Opportunities for Women: VIDEO

I was delighted to work on the MIA Mayo "Growing Real Opportunities for Women" programme, focused on supporting the development of women-lead enterprises in the migrant population of County Mayo.

As part of the programme, each mentor / advisor was interviewed and asked to provide their thoughts on the value of the programme... here's my video!

Time for a Strategy Workout?

Image - C/O - P4LeanStrategy

So, I'm reckoning many of you are utterly fed-up of posts concerned with New Year, New You [I am one of the many culprits behind those types of blogs, I know!] or similar themes?  Thought so.

With this in mind, I thought I'd take a different 'spin' on why the beginning of the year is a good time to dust down your business and give its strategy a good, honest workout.  Like our physical selves, post-Christmas indulgence, this time of the year provides great opportunity to banish bad habits and get ourselves fitter... the same rationale applies to business, and strategy.  To assist you in your bid to limber up in 2013, here are a few key steps:

1. Start as you mean to go on: the "R" word [not recession, the other one!] exists because, yes, a new year provides a good time to set goals and reset the negatives.  Had a few lousy months or a project that didn't fly? Now's the time to get a few new ideas going, learn from mistakes and move on.  Don't dwell on what hasn't worked... it's a pointless exercise.  Set one rule for yourself, and that is simply to ensure you start as you mean to go on - and work to remove the issues holding you back.  Be fair to your business strategy: don't allow experiential blocks to impede progress... accept what can't be changed and adapt how you deal with similar issues.

2. Target practice: one of the things I am fascinated by, is a sense that having goals is enough, in and of itself, to actualise these same goals. Nope! You need to work on identifying the route-map for achieving them.  This can involve a little 'target' practice [e.g. research, analysis, or using the grey matter and sketching out new ideas, products or services].

3. Understand what success looks like: when I worked in corporate-land, many years ago, we used a statement which really helped to actualise projects and bring about results - and that was an understanding of what 'good looked like'.  So, in your business, what does 'success' look like? We're all different, and aspire to different personal and professional goals.  Know what your business's look like and build your business strategy to reflect 'success'.  Remember - target practice! Having goals is not enough, you need the roadmap.

4. Appoint a non-executive ass-kicker: also known as an advisor, mentor or accountability partner.  Hugely important in the regular health-checking of business strategy and ensuring that key objectives are being met [and if not, why not?].

5. Bulletins: Keep your eye on progress and set regular "bulletins" - communication is one of the key tenets of successful businesses... so keep your people informed about progress.  If you're a sole operator, then ensure you keep yourself informed by interacting with colleagues, stakeholders and relevant organisations on trends, changes and opportunities.

Remember: this is a time to think of opportunity, action and results, so get moving and work-out your strategy!

The Time Is Now: Flex Your Ambition Muscle in 2013

Photo Care of onehungrymama.com

The post-Christmas-gorge is over so it’s time to feel the full pang of “overindulgence” guilt, right?

WRONG.

January is traditionally the time of year where we gradually re-introduce ourselves to New Year normality... inch-by-inch [of extra poundage] cold morning by cold, dark morning. Recovering from the financial output of the festive season means many of us spend the vast proportion of our time mourning our ailing credit card or bank balance. Clearly, the times we find ourselves living in now serve only to exacerbate this reality and for many, the impacts are far more serious than my comedic slant.

However, it’s important to remember that the New Year is just that: a new year. And in newness is opportunity and clarity, if we seek it out. The problem is – frequently, we don’t. Suffering from withdrawal post the vast turkey, ham and wine overload often leaves us in a New Year ‘holding pattern’. Bills to be paid, less social weekends to be had, more life expectations to be unfairly managed.

I've written quite a lot about opportunity in blogs of late, and the fact that very often, opportunities are only seen when our eyes are open to them. A new year should be seen as the time to adopt a fresh start – so why do so few of us take the leap of faith and really think about what it is we want out of our lives?

Put simply: fear. I can’t. I won’t be able to. I’d be no good at that. It’s a silly idea. It’ll never work. Everyone will think I’m nuts. Any other excuses in your head as you read this? Thought so.

I’m not going to quote that overused book title at you – but I am going to suggest this instead: why shouldn’t you at least consider giving it a try? What’s stopping you simply articulating the idea onto a page? Drawing out a mind-map? Clarifying the sorts of things you’d like to achieve? Or being a little bold and defining a more ‘ideal’ vision for your career [a vision board can help]. Don’t scoff at any of these notions – they’re the foundations for many-a successful business.

Working with people starting businesses from scratch, as well as those building their SMEs towards growth – there are common factors that influence success – the interesting thing is, they’re not extraordinarily different to the traits we all possess, if we look for them. In the main, these individuals all have a vision of their ideal which, in turn, fuels ambition. They've still got a pinch of fear which keeps them focused [which helps them to plan and evaluate] but not so much that it inhibits them – and most importantly, they’re not afraid to ask for help.

My hypothesis is that it is not impossible to harness your own potential, given the right supports and mindset – however, it is down to you, the individual to make this happen. Why not take the leap of faith this year, and flex your ambition muscle?

Happy New Year , #SMECommunity

Happy New Year one and all! I hope you had a wonderful Christmas, and are gearing up for 2013, new opportunities and goals [not to mention, the all-important strategy end-of-things!].

Next week, I'll be sharing my article for Irish Tatler [which some of you may have seen on my Facebook page], followed by a post on the importance of strategy in identifying your goals for the coming year, not to mention, implementing them.  

In the meantime, why not tuck into this little morsel of positivity and focus from last year: Three-Step Business New Year Resolution.

... and remember the hashtag! #yeSMEcan

Christmas Wishes!

Wishing all my SME colleagues a very Merry Christmas! 

I'll be offline from Friday 14th until the 7th of January 2013, but you can drop me an email or leave me a contact request via my website should you wish to get in touch.  Keep an eye out for the January edition of Irish Tatler where you'll find a little post from me on the benefits of stretching your ambition muscle in the New Year.

Thanks to all of you for your custom, interaction and support in 2012!

How You Say What You Say... and Where You Say It!

Image Copyright - TweakYourBiz [originally published November 5th 2012]

Elevator pitches / Marketing materials / Introductions / Business cards / Proposals / Letters / Websites / Social media

What do all these things have in common?

They all represent you and your business. They act as a calling card, a reference, a reminder, a point of contact for people to connect with and contact you.  Get your messaging right and you’re memorable, appropriately tailored and connected to the right audience.  Get it wrong and you’re simply wasting your time and money.  If you’re a little sketchy on this detail, then listen up [or, more accurately, read on!].

Start afresh

Sometimes we can become very entrenched in our businesses [a touch of the 'woods-for-the-trees' syndrome].  It’s perfectly natural, business is personal – it’s our creation and betimes it can be hard to distance ourselves from what we think we should be saying about what we do as opposed to what we actually should.

Take a step back from your business; does your messaging succinctly and clearly illustrate your value-add? Do you convert a strong message to the right segments? Which marketing channels do you use to convert that message?  Do you use the right mix of media? Or are you hanging around the wrong places trying to attract the right clients?

A simple equation

Want a simple way to remember effective marketing practice?

Segment + Message + Channel = Sales Output

It’s fair to say that there is some groundwork required in getting to the point of this equation however the key is in remembering it and constantly evaluating whether it is being used.   Successful messaging and marketing requires targeting, clarity and customer intelligence.  It also requires strategy and a long-term view.  Don’t be short-termistic in your approach as you’ll suffer poor results and  frustration [and plunder budgets too!].

Are you fishing where the fishes are?

Be brutal with your marketing strategy.  Are you fishing where the fishes are? Or codding yourself [see what I did there?] by toying with a marketing mix which is not in any way tailored to your market segments? In the same way that you must audit your business’s finance and operational successes and failures, your marketing requires just as much attention.  That’s why target and focus play such significant roles.

How you say what you say… focus on your NOSE

Pitching and introducing your offering can often feel like a painful experience, not least because many business people aren’t exactly radiating joy when asked ‘what they do’.  The reality? If you can’t succinctly communicate your offering – the what, the why and the how, don’t expect to generate any interest from your target  audience.  It all comes down to your NOSE… Or Needs, Outcomes, Solutions and Evidence.  A helpful view: what do I do? Why would it be beneficial to xx customer [being your target customer] and how it is beneficial / useful/ a solutions-provider? Don’t forget to illustrate with evidence or examples… we all like validation.

Is your business sending the right message?

The ultimate question you have to ask yourself [following the other steps], is whether your business really is sending the right message to the right people in the right places. It might sound like a simplification of sorts, but ultimately, if you can’t stand over your market positioning and the types of marketing communications methods you’re using, then you are probably going to continue wasting time and money on a strategy which just doesn’t work. Full stop.

Make time to evaluate what your marketing activities are producing – remember marketing’s role is to make selling [more-or-less] superfluous, so at the very least you should be able to validate and monitor what is working. More importantly, it’s key to understand what isn’t working and quickly reassess its worth.

Don’t make your messaging a casualty of no-review paralysis; review it regularly and ensure your business is sending the right message.

VIDEO: European Commission & Galway Chamber - "Empowering Entrepreneurial Success"

Want to see the video of this fantastic panel debate? Head over here.

What Strategy Means to the #SMECommunity

Image Link : idealway.tumblr.com

A few weeks ago, I asked the SME Community, through Twitter and LinkedIn, what they felt 'Strategy' meant to them.  The reality, as I understand it, is that strategy, like synergy and collaboration [and many other buzz words] has become something of a 'non-entity'.  It has developed an unfortunate role as a word bandied about at meetings and conferences, with very little actual meaning or outcomes attributed to it. 

The responses I received were interesting, though not entirely surprising.  For many SMEs, strategy connotes corporate lingo or jargonistic terminology which has no real basis or factual application for their business.  Others see it as a route-map or execution plan underpinned by a business plan; some think 'I don't have time for strategy - I'm busy surviving'.

Whatever your position, don't be fooled - strategy is essential.  It offers you with clarity, precision, timing and resources / capacity to deliver your business's vision and plan.  It's somewhat military in its essence [hence the abundance of Sun Tzu quotes in most strategy-related articles!] - in that it defines the how and who of actualising or delivering a business vision.  It's clear, succinct and above all, focused.

The reality of being a micro or SME? We're all different.  Our visions, financial and human resources are all, also different.  The other reality? This doesn't mean you 'opt out' of strategic planning.  The key to strategy is in the understanding of your relationship to strategy: it applies to you, whether your business is just you or others are involved.  The other reality? Your strategy may change but your vision should stay as concrete as possible.  Resources, timing and regular measurement should also be to the fore of your strategy.

Still not sure? Have a read of this... and remember, as Sun Tzu said "Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat."