This week I was lucky enough to be at the same networking event as two of my VIP – Fast Track Mentor Clients, and was able to hear them speak about their businesses.  It was great to hear the clarity in their voice as they succinctly described why you would want to use their services.

The ‘elevator speech’ can be a powerful business-marketing tool, especially if there are a number of similar professions in the one room, like there was this week. 

We had two Mortgage Brokers in the room and without being disrespectful – the first Mortgage Broker stood up and spoke about the wonderful features that her and her company could provide us.  She continued to say how they were the number one mortgage broker in Australia, how she would travel to you and that they had 25 lenders to draw from, etc.  Not very exciting and it didn’t really entice you to want to find out more about what she did.

When it came time for my client to speak, she clearly and concisely described not only the features of her business, but also how she could work with you.  She described who she worked with, what challenges they could face in securing a home loan, and how she took the time to make sure she provided the right solution for each client.  As you listened, it was clear she had a real passion for her business, and she would work to get the right result for you or anybody you may refer.  So as opposed to the first speaker, who simply gave you the 'what' of her business, my mentor student also provided the 'why' and 'how' - giving a much more complete picture.

An effective elevator speech needs to communicate immediately to your ideal clients what you can do to solve their problems or challenges.  The outcome being that within the 60-second period, this person will not only want your business card, but will also want to speak with you further about your services.

It’s important to take the time to develop your ‘elevator speech’ and if you don’t get it right the first time – that’s okay.  Keep working on it and make the necessary changes, and it will come together. 

So how do you create an effective elevator speech?  There are numerous ways in which you can pull this together, but below are the guidelines that work best for my clients.  But before we get to that I thought I would share with you, the elevator speech that my client used this week- bear in mind that you have only a short period of time to make a real impact with what you say:

“My name is Kim Wight from Smartline Personal Mortgage Advisers and I help you finance your property purchase with the right loan structure and interest rate to meet your requirements.

I do this by taking the time to personally understand your current needs and future plans, and provide you with the best advice and outstanding service to satisfy your needs now and into the future.

If you know anyone thinking about finance or worrying about rising interest rate they would benefit from speaking with me.”

That was Kim’s, now it’s your turn:

• Begin with your name: 

• State who you work with: 

• Speak about some of the challenges that they may be facing:

• Talk about the solutions you provide for these challenges:

• What is the call to action you would like?

I find that it is useful to develop a number of different elevator speeches, and then you can determine which ‘speech’ best suits the environment you are in. Don’t forget to have one that is fun and light-hearted!  Take time to prepare, and make sure you also practise your ‘speech’ as well.  If you feel comfortable enough, why not ask the person sitting beside you to provide you with feedback after the meeting?

Let me know how you go in developing your ‘elevator speech’, in fact, why don’t you share it with us all, in the comment section of my blog

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When you first started your business, did you make the same mistake that I made?  Did you feel you   had to take on every new client who approached you?  I did!  When I started, one of the strategies I thought would build a successful business was to see everyone as a potential client.  I would chase them until I became exhausted.  It didn't guarantee me new clients, my bottom line didn't grow, and my business wasn't successful.  Something had to change. 

I knew what I wanted to create, but at that time I didn’t really know or understand how to create it successfully. It took me time, and a high level of commitment, but after reading, studying, and being mentored, I knew I had the skills and knowledge to build a business that I would be proud of.  A business that would be successful! I realised that it took focus and persistence, because building a business is a marathon, it’s not a sprint.

Over a period of time, I developed a formula that worked for me. I called it my Success Formula.  It goes like this:

Make a Decision + Stay Focused + Be Persistent = Success

So how does this look in reality?

Make A Decision

So, you’ve blocked out your 2011 planning time, begun to thrash out your goals and intentions for creating the best business year yet.  Research has been completed. You’ve worked with your business mentor or advisors around how to stretch yourself further, and achieve these goals.  Now it’s time to make a decision! 

Ask yourself:   Are you excited by the goals and intentions you have set?  If yes: 

Have you stretched yourself?  If yes: 

After intensive research, are you willing to back yourself?  If yes:

Are you willing to make the decision that these are your goals for 2011?  If yes:

It’s time for you to commit to this decision.

Now if we go back to the very first question around being excited by your goals – if you answered ‘no’ to this question, than its back to the drawing board for you.  Keep working on your goals and intentions, until you feel the excitement, until you know internally that the goals you are setting will set you on fire.

Okay, now you’ve made the decision, what’s next?

Stay focused & be persistent!

As mentioned earlier, building your successful business is not a sprint, you want to treat it as a marathon.  Don’t make it hard.  If you read anything about successful entrepreneurs, you know that in most cases they persist when others give up.  Now that doesn’t mean at times you may need to change or modify your decision, but what you want to do is make the necessary changes, get back on track, and continue to be focused and persistent.

When working with my mentoring clients, and step up their marketing efforts – by doing research, developing extraordinary products and services, and focusing in on their target market.  Often what I will begin hearing from them is “Deb, you are relentless, and this is a lot of work.”  And they're right, but this is business, and this is the legacy they are creating. 

When you put the right work in, focus and stay persistent, results will happen.  If you’re not sure what the next step is for you and your business, why not check out my Marketing Blueprint Workshops.  What’s the worst thing that could happen?  You could come away with your 2011 marketing plan.  Remember all it takes is making that decision.

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I always believed that being a member of the Royal Australian Air Force gave me a great foundation for my life, both professionally and personally.  The things I learnt from my time in the military have been invaluable to my business success.  The expansive skill set of strategic planning, competitive intelligence, decision making, leadership development, high standard enforcement, and innovation in execution are just a few of the skills that I walked away with.

When I first started out in business, I looked at the skills I had, but then quickly realised that to be effective, I needed to translate them from a military context, into a context that would provide me with the greatest value to my business.

I am reminded of these skills whenever the end of the year is upon me, as I normally will spend the last couple of months of the year planning and preparing for the next year. 

Here are three of the skills from the military that I find most useful for my business:

Intelligence:  In the military, there is always a systematic and ongoing analysis of competitors.  Understanding and reviewing the intelligence of your competition allows you to stay alive!  So when was the last time you spent time studying your competitors?  Do you know who your top five competitors are and what can you learn from them?

Action Step: Before now and the end of the year, take time to identify your top 10 competitors.  Use the questions set out in my previous article – Competition is not a Dirty Word and diligently work through these questions, so you have a better understanding of what your competitors are doing.  Use this information to either make changes to what you are currently doing or allow it to show you that what you currently do is cutting-edge. 

Planning and Preparation:  The military are known for their comprehensive and structured planning – which they do very well.  Not only is the planning  comprehensive, but it is timely and well executed.  There are only 64 days until 2011 hits us – have you begun to put together your strategic plan for 2011?  What are your goals and targets?  Have you started to develop your 2011 Marketing Plan?  Remember that 90% of all small businesses don’t have a marketing plan in place.  Make sure you are one of the 10% that does.

Action Step:  Block out time between now and January 1st to plan for 2011.  If you're not sure what you need to do here, now is the time to identify the specific type of support you need to help you develop your plan.  Get clear on this, and 2011 will be your best year.

Leadership Development:  The value of a great military leader was more than just what they did, it was how they did it, how they made decisions, lead their teams and presented themselves overall.  Many had to learn to be great leaders, and often in very trying circumstances.  I often find that when working with SME’s, they either don’t understand or don’t see the importance of being a strong leader.  But I would like to challenge you to think about this differently, whether you are a solopreneur or have a small team, your leadership skills and development is vitally important. 

Action Step: Please don’t make the mistake of not seeing yourself as a leader.  Take time to create a vision of the leader you would like to be and see the impact this can have on your business.

I look forward to hearing how you plan to spend your next 64 days.  Feel free to let me know.

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Client Satisfaction - What are your ideas/strategies for extraordinary client satisfaction?

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I’m about to state the obvious - the key to success for any business, is your clients, your customers, those people who do business with you. And most people will start working with you, or buy something from you because of a service or product you provide that solves a challenge or problem for them. But it is the experience that they get from working with you that will keep them there, and will turn them into raving fans.

The above statement is something that I believe in, and is something that I tell my mentor clients as well as my business building blocks members whenever I can. It’s something that I want to live up to for my readers of this newsletter as well. Reading the results of the survey has really helped me better understand the needs that you have, the challenges that you are facing, and how I can support you in your business growth.

I’ve been where a lot of you are currently at, a new-start up – struggling to understand how to best market your services to your ideal clients, wondering where the next client was coming from, and thinking about where you could actually find these clients. At the five-year plus stage, when my business was growing, I wasn’t sure what my next step would be. I wasn’t really sure what I wanted or needed to do to take my business to that next level that would allow it to grow and develop into what it is today. But at each stage, I was supported by mentors and colleagues who would listen to my questions and concerns, and provide me with the information I needed to keep moving forward.

To give you a snapshot of what you have been telling me from the survey, the following areas are where you would like to see improvements:

· Knowing how to market your product or services - 73.3%
· Getting new customers or clients – 60%
· Taking your business to the next level – 53.3%
· Professional development programs – 40%
· Pricing of products and services – 33.3%
· Achieving work/life balance – 33.3%

You would like further support, ideas and information on:
· Sales,
· Marketing,
· Networking,
· Building strong referrals,
· Understanding clients/customers better,
· Social media, and
· Staying motivated and being supported, to name but a few.

Many of you stated that you would love to work with me, but don’t have the budget to work with me one on one in my Fast Track Success Program. That is okay. Over the next few weeks, I will be letting you know about a group-mentoring program I will be offering to support those of you hungry to move forward. This program will be open to only five business owners and it will be very cost effective. So if you want to know more, or reserve your spot NOW, email me at deb@debpilgrim.com with ‘group-mentoring’ in the subject line, so that you are the first to hear about it.

I am also pulling together leaders within the areas of sales, social media, networking, personal development, internet marketing, web design, client retention, and client satisfaction, to run content-rich programs for you. Most of these will sit within the mentoring programs, and my Business Building Blocks monthly membership calls, but I will also be running some free webinars to support my Biz Booster readers. These experts are also excited to be sharing their information within the article section of Biz Booster as well.

My commitment is to support you in building the business you desire. Please keep talking to me, and sending your questions through via email and I will continue to support you. There are so many great resources out there that I am committed to bring to you the best of this information. I do hope to hear from you soon.
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I was watching a video this week, promoting CrossFit (CrossFit is strength & conditioning fitness) and thought I would take our question of the week from this.

What is your fear, when it comes to your business?  Does fear stop you from achieving your goals? 

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What is the best piece of advice you have received as an entrepreneur?

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Today’s article is a quick tip and I want to focus on one recurring question that is coming up in the responses to the survey. This is about marketing your products and services to clients and how to have clients understand what you are saying.

So I’ve put together these quick tips to assist you:

1. Make sure you really understand your audience. If you don’t know what your prospects or clients need from you, ask questions. You can do this very simply by doing something like what I have done this week. Survey your clients, ask them what you want to know and try and find out what they need from you. I’ve used a tool called Survey Monkey to help me understand more about you! It's easy to use and the information you receive is valuable in relation to how you can better support your clients.

2. Make sure you have the right offer in place. Once you know more about what your clients want from you, then you can make them an offer that speaks directly to their needs and wants. An offer that will allievate any issues or challenges they may facing

3. Ask yourself, “What is the outcome I want from this offer, from this newsletter, from this……?”. Make sure you understand how your audience wants to be spoken to. Than, be very clear on the messages you are sending out. Track and test your messages, and see which ones are having the greatest impact.

Remember, clarity in the understanding of your clients, in your offer, and in your message will support the continual growth of your business. If you're not sure where to start, don't stand there waiting, organise a Just-in-Time call with me, so that together we can get you moving in the right direction. Tweet

If you could have support for 90 days to grow your business, what area/s would you focus on?

Would love to know what you think......Please take a moment to share your thoughts.

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Do you see yourself as an Entrepreneur or a Business Owner?  Do you see a difference? 

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