NAWBO 2011 Top Ten Resolutions for Women Business Owners

1. If a task or decision is nagging at you, take action. Most likely if something is stuck in your brain and thwarting your good mood or continuously hammering at the edge of your thoughts, it needs to be dealt with. Taking action will not only put the nagging voices to rest, it will probably move you forward on some significant goal. You will also save mental, and possibly physical, energy because you are doubtlessly spending more time and effort evading thoughts than making decisions.

2. Be certain you know who your customers/clients are. If you do not drill down to specific client types, you will probably spend some of your time, effort and money marketing to the wrong people. If you are too general in the description of your customers (using words such as “all” or “every”), you will likely be too general in your message and not stimulate actual purchases. Look back at the misses and successes of the last two years and use that data to help you reassess your idea of your real customers/clients and prospects.

3. Speak in the language of your prospects, customers and clients. Remember that you are not selling your products or services, but rather meeting the needs or solving the problems of your current and prospective clients/customers. In turn, package and market your products and services in a way that addresses these needs or problems. Look at it from their viewpoint. Knowing the language of your customers/clients means you must know who they are and what they aim to achieve.

4. Do not let desperation cloud your thinking. The perfect storm of desperation is not over. There are signs of economic recovery, and everyone wants some of the new revenue crumbs. You will be offered everything from “the secrets to getting your share of the millions being spent by the government” to promotional materials on how to get your message to “thousands of prospects.” And if your desperation clouds your thinking, you will not be able to evaluate invitations and announcements for their true value opportunity. Assess the value of the opportunity and compare it to its cost—actual fees and your time.

5. Adopt the philosophy that some revenue is better than none. Many woman-owned businesses miss opportunities because they are not willing or do not know how to take advantage of chances at part of a sale, project or contract. Subcontracting, partnering and being the recipient of outsourced functions increase your opportunities for revenue. Do not stall your success because you 1) are afraid partnering will reveal your secrets to a potential competitor 2) do not want to share the revenue 3) do not want to be seen as “too small” or not capable or 4) do not want to do the research and negotiation necessary to establish a working relationship with another company.

6. Put it in writing. If you put the specifics of every agreement and arrangement in writing, you will save yourself time, money, agony and broken relationships. Any partnering or subcontracting arrangement should be spelled out in a signed agreement and include a Scope of Work/Services that clearly states what you will do, what the client will do and the amount and schedule of payment. Things can happen that will alter the original circumstances—people leave, new factors arise, funds are delayed—and if you are not protected by terms in writing, you could jeopardize your revenue and/or reputation. If you are working with or for friends or relatives, putting conditions and stipulations in writing is just as important and sometimes even more so because it may save a relationship.

7. Follow up and follow through. How well a vendor follows up or follows through on promises is part of the test to determine if they will be a quality supplier. Another reason follow-up is so important is illustrated by that old saying: “out of sight, out of mind.” Buyers say they deal with many vendors so they need for you to remind them that your business is still in operation and you are still interested in meeting their needs.

8. Treat marketing activities as you would any client project. Develop a schedule of marketing actions, put them on your calendar and carry them out—just as you would any product or service development and delivery for a client. Because many people are not comfortable with marketing, do not like it or feel that other things are more important, it often does not receive the proper level of attention. If you do not schedule the actions and commit to completing them, they will keep getting pushed aside and may never be finished. We all know that if you do not market your business, you will eventually have no business.

9. Research. Research is an investment of time to ensure that you find the right prospects, do the right thing, use the most compelling words, avoid pitfalls, minimize mistakes and reap the most benefits. This is another thing that should be scheduled, committed to and carried out.

10. Avoid spending too much time “getting ready” instead of “doing.” If there is something you do not really want to do or are not comfortable with, there is the risk of avoiding it by getting trapped in the preparation phase. Examples include 1) listening to motivational types to get inspired about a project instead of breaking it down into bite-size pieces and doing it 2) writing and rewriting copy for a marketing piece instead of sending out a decent effort or 3) asking everyone you know for input on an important decision instead of making the decision. Truly, you will know when you reach the point where preparation turns into avoidance. Now is the time to act.

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