Getting Ahead of Time Management
Whenever I start working with a new client, time management is often an urgent issue. The obvious question is, “How can I find time to work on coaching if I don’t have enough time to even run my business?” This is tricky, but not as impossible as you might think.
I took on a new client last year who had exactly this problem. He was working about 14 hours a day, didn’t feel that he could ever close his door to interruptions, getting further and further behind in his email and tasks. His health and personal relationships were declining, and of course his stress was out of control.
I pointed out that he happened to have a 15 minute commute. Since he’s outside the US, he is able to have a driver take him to and from the office. What would happen if he would use those 15 minutes to think and plan, rather than start in on his voice messages?
We fanned the tiny flame. 15 minutes a day turned into some dedicated planning time. He started looking at the larger business world, capturing ideas from others in his industry and others. Today he’s in control of his time and has cut down his work hours substantially.
In some sense, controlling you time isn’t particularly complicated. Prioritize what’s most important. Work on each task when you can be most effective. Limit interruptions.
But in reality, this is incredibly difficult. You don’t feel you have control over the constant flood of incoming issues. Prioritizing seems an impossible task.
The secret, if there is one, is to start simple. Do what’s possible, and grow it. Don’t start by obligating yourself to an hour of exercise every day – instead take a 5 minute walk and expand that as you see success and make it a habit. If your “daily plan” is a few scribbles on the back of a napkin, go for it.
It just might work!
Carl Dierschow
Small Fish Business Coaching Fort Collins
www.smallfish.us
Should You Give Coupons?
I was having a great discussion with a person the other day about whether it’s useful to give coupons to attract people into your business. It turns out that there’s several dimensions that you have to think through.
First, coupon-clippers are different than loyalty-shoppers. You’re trying to attract the latter: the people who will grow to love your business, come back year after year, and recommend you to their friends. But coupon-clippers think of your product or service as a commodity, and will instantly switch to the next coupon they see. As a result, it can be quite dangerous to lose money on coupon offers, as those customers will take advantage of your generosity with no thought of becoming a loyal customer.
Second, consider how you think about coupon for products or services that you have to live with for a long time. I have no interest in coupons for haircuts – because I’m satisfied with my current barber and wouldn’t want to live with a bad haircut for weeks and weeks. For restaurants, though, I’m more inclined to use a coupon because it’ll just affect my satisfaction for a short period. And, of course, I might discover a great eatery!
I have different approaches to coupons because of the risk I’m taking, the size of the investment, and even my sense of adventure.
But when you attract new customers with these kinds of incentives, realize that those people will just as easily move to your competition. To convert them to loyal customers takes an extraordinary experience, and perhaps you’ll never be able to earn a deep loyalty. Be cautious about whether you want the coupon to be a money-losing deal, because most often you’ll never get them back as a full-paying customer.
I’d be careful about giving coupons as a regular matter of course. What you’re really doing is training your customers to expect that they’ll never pay full price, and in fact will delay their purchase until they see another coupon. There’s a well-known home goods store in the US that does a great job of mailing everyone a 20% coupon every month. Sure, it gets them visibility, but it also means that I’ll delay a purchase until I receive the coupon. And because it’s 20% off my first item only, I’ve noticed that I’ll sometimes make a point of purchasing exactly one item – and then wait until I get the next coupon to purchase another. This company is doing a great job of training me to be a bad customer for them.
How are YOU using coupons in your business?
Carl Dierschow
Small Fish Business Coaching Fort Collins
www.smallfish.us
Great Marketing Partnerships
I had some great discussions recently with a couple of ladies. The first owns a particular kind of retail store, while the second is a photographer with a particular niche. What makes this fascinating is that both are focused on the same kind of clientele – selling different products and services, but to the same people.
This is a fantastic opportunity for partnership!
Here’s the idea: The retailer can improve her business by adding some great photos in the shop, promoting events where photography might play a part, and developing a deeper relationship with customers beyond just what she’s able to provide.
On the other hand, the photographer can get access to a whole bunch of customers who walk into the shop, be a part of events which are reaching these customers, and develop deeper relationships beyond just creating great photographs
I’m very pleased to see that both women have already been taking action on this, developing a whole range of new ideas for marketing beyond what they were doing on their own. And all it took was to make a connection across different industries – because they’re serving the same customers.
Here’s the question for you, then: What other kinds of companies do YOUR best customers buy from? What would happen if you explored some kinds of cooperative ventures based on a win-win model? And don’t forget, the customers win too. Win-win-win!
Carl Dierschow
Small Fish Business Coaching Fort Collins
www.smallfish.us
