According 2 Eric

Read this if you are targeting SMB and you should be.

eric@ericgilboord.com (Eric Gilboord) — Wed, 17 Jun 2009 12:58:00 +0000

29% of Business Owners are more Tenured Than You Think

When you ask small business owners why they started their companies, a surprising number will tell you “by accident”. Many entrepreneurs don't set out to be small business owners, but instead stumble into a hobby, a side project or a niche that quietly grows into a full blown business. How many? About 29% of the market. Roughly one-third of small business owners report that their current business was once only a secondary source of income.

The majority of these side businesses have significant incubation periods. Business owners reported running these fledgling efforts for about 3 years before they became a primary income source.

As a marketer, this means you have a few issues to anticipate and solve in your prospect and customer data:

Ramp-up, not Start-up: Many business owners won't take steps to formally register these side businesses until they are primary income sources. As a result, what looks like a start-up in your data may be a three-year-old business just hitting its stride - with a very different set of needs from true start-ups. Look for telltale signs of more tenured businesses like non-residential addresses, vanity domains in email addresses, and ecommerce websites to help segment out these businesses.
False Tenure Reads: Likewise, many of your existing customers may have older businesses than your data would suggest. Remember, tenure is the measuring stick for most small business owners; it's a piece of data you want to get right. Don't miss the opportunity to collect accurate tenure data from your business owners at any interaction.

The small business market is not a single market at all, but an amalgamation of hundreds of small segments determined by factors like industry, tenure, and employee size. Improve your marketing efficiency and effectiveness by focusing in on small segments rather than blanket marketing this diverse mix of entrepreneurs.

Marketing Plan Day Event in Whitby June 24, 2009

eric@ericgilboord.com (Eric Gilboord) — Mon, 15 Jun 2009 18:23:00 +0000

Eric is taking his SMB Marketing Day event to Southfield Michigan June 18, 2009

eric@ericgilboord.com (Eric Gilboord) — Fri, 22 May 2009 15:07:00 +0000

11 Tips for Reviving Your Business With Marketing

eric@ericgilboord.com (Eric Gilboord) — Thu, 21 May 2009 21:31:00 +0000

by Eric Gilboord

1. Outside Help Seek objective, outside professional help. If you do it yourself, you will likely take your eye off the day to day running of the business, cause unnecessary anxiety, and either keep your business where it is or hurt it further.

2. Rethink Your Business Think about current customers, competition, industry changes, and technology. Even rethink the type of business you are in. Many successful businesses have managed to stay that way by moving with the times. They saw the needs of their customers changing and acted accordingly.

3. Assess Your Company’s Current Status Put everything on the table, both good and bad. Include aspects of the business you are proud of and issues you wish would just go away. Address issues relating to staff, products and services, location, profitability and new business development.

4. Keep Some Change Some Determine what your customers like about you and what they would like to see changed. Be honest with yourself.

5. Maintain A Level Of Objectivity Emotion has no place in this process. To achieve a successful marketing turnaround, you must do what is best for your company. This may mean letting long-term employees go or finding new suppliers.

6. Review The Past Look carefully at your past marketing efforts. Examine past successes and failures. If you are still running a marketing program, but cannot justify the expense with an accurate accounting of incremental sales, consider canceling the program or placing it on hold. Successful marketing turnarounds stop the bleeding quickly.

7. Review Competitive Activity Often, a new entry in a market will utilize new marketing techniques and new thinking to achieve sales that you didn’t know were possible.

8. Look At The Staff Take time to review existing staff in light of the plans you are preparing and the growth you seek. Many companies that have set out on a path for success have been thwarted by staff members who didn’t agree with the new ways, or were actually afraid that the company would succeed. The last person you expect to come forward will be the first to say goodbye. People can be resistant to change. They like things to stay the way they are. If you need new
people, clearly identify the skills required and begin the hiring process immediately.

9. Flexibility Be flexible and prepared to adjust your marketing plan as new opportunities and challenges arise.

10. Persevere Perseverance is an absolute must. If you give up too early, you may fall short of the great success for which your business was destined.

11. Be Quick Speed is essential in turning a company around. While you were planning and executing the marketing efforts your competitors may have been
taking advantage of the opportunity and moving in on your customers.

And that's According 2 Eric

23 Marketing Tips for Avoiding Small Business Failure

eric@ericgilboord.com (Eric Gilboord) — Thu, 21 May 2009 01:41:00 +0000

By Eric Gilboord

Lists like this one are usually made up of financial reasons for the failure of a small business. There are also many sales & marketing reasons why a small business can fail. Fortunately there is a positive step to be taken for each one that will increase your chances for success.

1. Face Your Weakness. Failure to face up to your weaknesses and a lack of effort to take advantage of your strengths can keep a business in a no growth mode. Take 2 pieces of paper and list your company strengths on 1 page and the weaknesses on the other. For each strength note what you can do to communicate this information to your staff, customers, prospects and other business associates. On the weaknesses page identify a next step to correct the problems. Discuss the points with your staff and develop timelines to address these issues.

2. Take Action. Talking about the great marketing program you have been developing and following through with that program are 2 very different actions. Implementation is the key to marketing success. Plan all you want, but be prepared to act on all the steps you have identified. Don't be surprised to find that there are some steps you hadn’t initially considered.

3. Learn the Difference Between Accountability and Responsibility. Understand the difference between accountability and responsibility. Make sure your staff and suppliers recognize that by accepting responsibility they are accountable to you and the rest of the company. It is now their job to get the assignment completed.

4. Don't Play at Business. Don't play at being in business. It is not a hobby or a pastime. Think about the message you are sending to your staff, suppliers and customers. A genuine commitment to the customer and the success of the business will get you through difficult times. It will also pave the way for much success in the future.

5. Avoid Ad Hock Marketing. Struggling along from 1 idea to another without thinking your complete marketing story through, will typically end in one failure after another. Prepare a program for the year, or at least for a complete season. Build on previous efforts, to ensure continuity.

6. Seek Employee Buy-in. When your staff does not support a marketing program you are usually destined for failure. Get them involved early in the planning process and incorporate their ideas.

7. Appreciate Every Customer. A total disregard for the customer is a sure sign of failure. There is nothing more irritating than walking into a business or past a booth at a trade or consumer show and seeing that the person behind the counter is having a personal telephone conversation or reading the paper. Immediately you are made to feel like you are interrupting. Customers should be welcomed into your business and greeted with your full attention.

8. Spot Trends. Recognize trends, changes, marketing mistakes etc. Recognizing a new trend different from your particular product or service offering is a terrific opportunity to present something new to a customer. New ideas refresh your staff as well.

9. No Egos. If you suffer from the ‘not invented here’ syndrome, get it fixed right away. Great ideas can come from anywhere and anyone. Limiting yourself to ideas created only at your company is viewing life through a very narrow lens. Seeking outside assistance and then not listening is equally dangerous.

10. You Don't Know It All. Assuming that all your ideas are right just because they were ‘invented here’ is equally dangerous. You may know your business better than anyone but you don't know it all. Seek outside help.

11. Control Sales Staff. Lack of control over sales staff will result in missed opportunity and wasted man hours. If your sales reps have little direction or support they could be selling to whoever they choose. This usually means spending much of their time with existing customers and missing large new opportunities. Develop specific sales plans with your reps and review them regularly.

12. Create Tools. Not creating proper sales and marketing tools for your staff will make their job that much more difficult. Arm them with well thought out selling tools and train them to use the tools effectively.

13. Keep Tools Impressive. If the sales tools you do have are unimpressive, out of date, poorly conceived, lack strategy or focus, they are damaging sales opportunities. Work with your staff to prepare useful selling tools.

14. Prepare A Realistic Budget. Don’t force your Marketing group to live with a low or non-existent budget. Be realistic about your expectations and provide appropriate funding to increase your chances for success.

15. Don't Try To Spend Your Way To Success. On the other hand, if you spend too much on marketing, you may not get value for your investment. Carelessly spending dollars against marketing does not always guarantee sales. You may need to rethink the media and promotional offers that currently make up your marketing program.

16. Promote Your Website In Traditional Media. A key lesson learned recently by the big participants in the Internet is the need to go outside the Internet to traditional media. After producing a well-thought-out web site, the key to success on the net is to let your target group know where your site is located. Add your web address to all your communication materials: business cards, letterhead, invoices, flyers, etc.

17. Answer The Telephone Properly. Not answering the telephone properly or having an uninformed person answering for you can be damaging. Customers and prospects become frustrated when they can’t get an answer to their questions. Train your staff well and equip them with the most up-to-date information. If they shouldn't be answering the telephone don't let them.

18. Don't Lose Orders. Losing orders or not completing them on time is an easily resolved problem. Create a step-by-step fulfillment process with checking systems to make sure that an order is controlled from beginning to end.

19. Promote Yourself. Some business owners believe that the product or service they offer should be as irresistible to others as it is to them, and that customers should just come to them without promotion. Not promoting yourself will only serve to keep your business a secret.

20. Encourage Others to Promote You. It is just as important to encourage others to promote you. If someone else has a clear understanding of what your company does and who your target group is, they can help to promote you. Develop a quick statement that identifies who you are what you do, who you do it for and why you are different from competitors. Make sure anyone who may be representing your company to prospects understands this message.

21. Face Negative Word Of Mouth Head-On. Negative word-of-mouth statements can have a devastating impact on your sales, and goes far beyond one or two unhappy customers. Solve the problem quickly and win them back. They will be your best salespeople.

22. Use Resources Around You. Failure to use resources that are readily available is a waste of opportunity. Seek out government self-help offices, associations, consultants, Internet sites, and libraries. Talk to customers and suppliers, and study your competitors.

23. Be Better Than Competitors. Don’t just try to be as good as the competition. Be better, offer something different, provide better service, etc.

And that's According 2 Eric

Eric's "I'll Come to You, Business Stimulation 2009 Tour"

eric@ericgilboord.com (Eric Gilboord) — Tue, 28 Apr 2009 20:10:00 +0000

Check out tour locations here.

11 Marketing Tips for Reviving Your Business

eric@ericgilboord.com (Eric Gilboord) — Fri, 17 Apr 2009 00:39:00 +0000

By Eric Gilboord

1. Outside Help. Seek objective, outside professional help. If you do it yourself, you will likely take your eye off the day to day running of the business, cause unnecessary anxiety, and either keep your business where it is or hurt it further.

2. Rethink Your Business. Think about current customers, competition, industry changes, and technology. Even rethink the type of business you are in. Many successful businesses have managed to stay that way by moving with the times. They saw the needs of their customers changing and acted accordingly.

3. Assess Your Company's Current Status. Put everything on the table, both good and bad. Include aspects of the business you are proud of and issues you wish would just go away. Address issues relating to staff, products and services, location, profitability and new business development.

4. Keep Some Change Some. Determine what your customers like about you and what they would like to see changed. Be honest with yourself.

5. Maintain A Level Of Objectivity. Emotion has no place in this process. To achieve a successful marketing turnaround, you must do what is best for your company. This may mean letting long-term employees go or finding new suppliers.

6. Review The Past. Look carefully at your past marketing efforts. Examine past successes and failures. If you are still running a marketing program, but cannot justify the expense with an accurate accounting of incremental sales, consider canceling the program or placing it on hold. Successful marketing turnarounds stop the bleeding quickly.

7. Review Competitive Activity. Often, a new entry in a market will utilize new marketing techniques and new thinking to achieve sales that you didn't know were possible.

8. Look At The Staff. Take time to review existing staff in light of the plans you are preparing and the growth you seek. Many companies that have set out on a path for success have been thwarted by staff members who didn't agree with the new ways, or were actually afraid that the company would succeed. The last person you expect to come forward will be the first to say goodbye. People can be resistant to change. They like things to stay the way they are. If you need new people, clearly identify the skills required and begin the hiring process immediately.

9. Flexibility. Be flexible, and prepared to adjust your marketing plan as new opportunities and challenges arise.

10. Persevere. Perseverance is an absolute must. If you give up too early, you may fall short of the great success for which your business was destined.

11. Be Quick. Speed is essential in turning a company around. While you were planning and executing the marketing efforts your competitors may have been taking advantage of the opportunity and moving in on your customers.

And That's According 2 Eric

Give to Receive

eric@ericgilboord.com (Eric Gilboord) — Mon, 30 Mar 2009 17:23:00 +0000

My thoughts are my currency; the more I give the more room I have to receive. Please receive a FREE e-copy of my book www.ericgilboord.com

Current state of the information explosion.

eric@ericgilboord.com (Eric Gilboord) — Mon, 23 Feb 2009 14:26:00 +0000

A quick thought.

With the need for marketing/business building advice growing, we are witnessing an information explosion via blogs, article marketing and the plethora of social networking sites like LinkedIn. Due to the ease of distribution of this abundance of information I am starting to see 2 things happen:

SMBs are overwhelmed and therefore seeking guidance from a single source or at least a few trusted resources. Not all information is accurate or particularly well written. Just because you have a keyboard doesn’t make you Hemingway.

There is a big movement toward live face to face social networking. Whether it is for networking or buying and selling services people are aching for live contact.

Experts say we should identify an audience, figure out their need and then satisfy it. I have a solution that does that and a whole lot more.

Comments or interest anyone?

And that's According 2 Eric

Sign Up For Eric's Tips

eric@ericgilboord.com (Eric Gilboord) — Fri, 20 Feb 2009 16:32:00 +0000

Get Eric's tips and a FREE e-copy of his book just for signing up.

Sign Me Up

Poll

eric@ericgilboord.com (Eric Gilboord) — Fri, 06 Feb 2009 17:05:00 +0000

Click here for short poll on marketing advice for you.

It's time for all of us to give back.

eric@ericgilboord.com (Eric Gilboord) — Sun, 01 Feb 2009 23:06:00 +0000

Please give this a close look.

Click the pic for some real insight into how folks are giving back all around the world. Then start your own program. Let me know how you are doing and I'll share the news. Eric Gilboord

Much To Consider When Choosing Your Marketing Supplier(s)

eric@ericgilboord.com (Eric Gilboord) — Sun, 01 Feb 2009 21:18:00 +0000

By Eric Gilboord

As a small business owner/operator, you are likely very good at making your product or providing your service. You may not have much experience, knowledge or even interest in marketing. However, you know you have to do something. In order to survive or even thrive in this ever changing, highly competitive marketplace, some action is better than no action.

You can find assistance working with various types of marketing professionals. They come in all shapes and sizes - from experts in websites, SEO, blogs, backlinks, social networking and email to writers, designers, printers and strategists. They operate as individuals, in an alliance of smaller two and three person shops, or as multimedia and ad agencies.

Today, more than ever, small business needs lead generation (finding new customers) and business development (building up current customers) tools. At the small business stage, marketing tools usually take the form of an internet presence, email, blogs, social networking activity, business cards, letterhead, brochures, flyers, newsletters, posters or advertising.

You can find suppliers to help you with acquiring prospect (potential customers) lists, database development and management, contact management software, lead generation and sales presentation tools, all internet related activities, telemarketing, direct marketing, sales training, marketing planning, strategic planning, strategic alliances, and the list goes on.

At the early stages of a small business, it is more likely that you will act as your own Marketing Manager. The alternative is to hire a qualified marketing person as your outsource Marketing Manager. It is similar to hiring an accountant to help with your bookkeeping and banking, or a contractor to help build an addition to your home.

1. Determine your needs either on your own or with the help of a professional. When I meet a new prospect for the first time, I ask the question - How can I help you get what you want? Make sure you know what you want to achieve. Be open to new ideas for reaching this goal.

2. Open your business to a supplier. Don’t make them guess at the information. No one can help you if they do not have the whole picture.

3. Develop a short list of suppliers. Do not rush to work with the first one that sounds like they can help you. Be wary of the "I can do it all myself”, or “I’m selling this particular method today" suppliers. Interview at least three suppliers.

4. Think activities through. Look for the suppliers that ask good questions - see below. If you do not have the answers to their questions, the supplier should help you find them.

5. Clarify the job, and make sure you have an agreement in writing. Every prospect I meet has at least one story of a less than productive experience with marketing, and it is not always the fault of the supplier. Understand your own experience. Be realistic and above all be clear on your objectives.

6. Be open to suggestions. After all, you are seeking out the help of a professional who has had more marketing experience than you. They may not know your market as well as you but they should have some ideas you may not have considered.

7. Work with them at every stage in the development of your marketing tools. Learn as much as you can for the next time and make certain these tools represent your company as accurately as possible.

8. Pay for what you need when you need it. This is much like working on your home. You might need to paint a room or build an entire addition. Determine what you are going to do, and then hire the best people you can find. Make sure you are comfortable with them as people and confident in their abilities. Your future depends upon it.

I have lost more sleep than I care to remember because I selected a supplier who did not or could not do what they promised. If your instincts tell you something is wrong, check it out. Talk to friends and business associates who have had more marketing experience than you or have developed a similar marketing tool. Call another supplier and discuss the project to get a different perspective. (You should have discussed this job with at least three potential suppliers before making a selection.)

QUESTIONS A SUPPLIER SHOULD ASK - The more information a supplier has, the more effective they can be in helping you reach your goals.

1. What is your real objective (what you are trying to achieve)?
2. What strategy will you employ (how you are planning to do it)?
3. What is your budget?
4. Clarify your target group(s), and be aware that your target group is not everyone. Find out who is actually buying your product or service. Is it the president or the shipper making the real decision?
5. What are your sales objectives? Are they realistic? Do you have staff to reach these objectives?
6. How does your product or service stand up against the competition? Who is your competition?
7. Why is your product or service different and why should I buy it?
8. Are you open to new ideas?
9. Is your desire to do marketing, short-term or long?
10. Are you looking for a long or short-term supplier relationship?
11. What marketing experience or existing materials, (for this product/service), do you have?
12. What past marketing successes or failures have you had with the product or service under discussion?

QUESTIONS YOU SHOULD ASK A POTENTIAL SUPPLIER

1. What exactly is your marketing supplier going to do for you?
2. How long will it take?
3. How much will it cost?
4. How do the services they offer fit in to the total marketing program?
5. What additional services can they provide - either directly or through associated companies?
6. Who will be working with you directly? Is it the person you are meeting now or someone else?
7. Are there going to be any additional costs?
8. What if the supplier goes over budget/estimate, are you liable?
9. What do they know about your industry?
10. How much experience have they had in your industry?
11. Do they think your expectations are realistic?
12. Can you see their past work?
13. Can they supply recent references?
14. What type of clients do they specialize in?
15. Do they offer a guarantee?
16. What rebates or discounts do I qualify for?

And That's According 2 Eric

The Future of Business Networking

eric@ericgilboord.com (Eric Gilboord) — Thu, 29 Jan 2009 19:27:00 +0000

Press Release for Mad Hatter Speed Networking

Html Version
If You Think You Know All About Business Networking ... Think Again!
Pdf Version
If You Think You Know All About Business Networking ... Think Again!

I'll come to You, Stimulation 2009 Tour - Press Release

eric@ericgilboord.com (Eric Gilboord) — Tue, 27 Jan 2009 12:56:00 +0000

“The Lead Generation Blueprint: 11 Steps to More Business”

eric@ericgilboord.com (Eric Gilboord) — Tue, 27 Jan 2009 12:00:00 +0000

For our Teleseminar special pricing click here.

To hear the seminar click here.

Mad Hatter Speed Networking

eric@ericgilboord.com (Eric Gilboord) — Tue, 26 Aug 2008 17:25:00 +0000

To learn about the latest innovation in quality Networking click here www.madhattersn.com

Smart Marketing Now You Can Host or Attend

eric@ericgilboord.com (Eric Gilboord) — Tue, 01 Jul 2008 00:19:00 +0000

For more information click here.

Are You LinkedIn?

eric@ericgilboord.com (Eric Gilboord) — Wed, 25 Jun 2008 16:45:00 +0000

I have been using LinkedIn to reconnect with old business associates and am experiencing great success. If you are looking for subject matter expertise on the small and medium-sized business market or advice to grow your business link up with me at www.linkedin.com. Ask for an introduction to Eric Gilboord - My email address is eric@ericgilboord.com. Share my rapidly growing network.

67% of High-Growth SMBs "LinkedIn": How to Reach Them

A recent Warrillow study indicates that 28% of small business owners are registered in at least one online community or social network. Increasingly, small businesses are turning to social networks as a way to promote themselves and tap into the support of peer groups, exchange ideas, and seek advice. This trend toward social networking is even more pronounced in high-growth entrepreneurs. In the case of LinkedIn, these fast-growing small businesses are more than 4 times as likely to be registered members – an impressive 67% of high-growth entrepreneurs (20%+ growth) are registered. With LinkedIn's membership now spanning more than 3 million small business professionals, a significant number of those represent valuable high-growth businesses.

It Pays to Know What You Don't Know

eric@ericgilboord.com (Eric Gilboord) — Fri, 20 Jun 2008 15:42:00 +0000

By Eric Gilboord

Knowing what you don't know, means having an understanding and a respect for all the knowledge you do not possess. It would be difficult for anyone to possess all the answers as well as knowing all the questions. Two major stumbling blocks can stand in the way of the success of a small business. The arrogance to think you have it all figured out. To believe no one else was as smart as you to see this great opportunity. No one knows your business like you. Or conversely, burying your head in the sand and not admitting there are unanswered questions about your business can be equally harmful.

There is nothing worse than being blind to need. Thinking you know it all is the big downfall. This is a time of rapid change i.e. e-commerce, instant communications and changing attitudes. Some companies are entering the same marketplace as you and making millions. Where do you think this money is coming from? It's coming from your customers-the current ones and the ones you'll never meet.

Customer needs change, they evolve and grow with the familiarity and ongoing use of your products and services. Order the same size pizza from the same location with the same toppings week after week and eventually you will develop a need for something different. Will you simply change your order or try a new pizza place that recently advertised a new crust or some unusual toppings. Customer needs change to reflect weather, holidays, families grow and tastes change. Opportunities abound for you to find more new ways to satisfy a customer's needs.

If you ran a pizza operation you could easily, actively poll your customers as they call in their orders and ask if there is a new topping you may not currently offer that they were thinking about. Maybe they tried a pizza from a competitor and discovered the taste of a new topping was the change they were looking for. Look for some common requests and begin to offer this new topping.

8 Tips For Determining What You Don't Know

How Is Your Competition Doing? Ask yourself if your competition is doing better than you are. What do they know that you don't? Are they asking questions and responding to the answers? Did you see your competitor try something new and tell everyone you thought of it years ago. Thinking about it is one thing, doing something is what separates success from mediocrity. Thinking about it doesn't make the cash register ring.
Ask Your Customers. Your customer knows their own needs, likes and dislikes. It's up to you to draw that information from them. One customer may have a specific need shared by many others. If you satisfy that one customer you may have found a product or service desired by many others. This opportunity is there right in front of you waiting to be recognized.
Question Suppliers. Talk to your suppliers about new ideas. They see what your competition is doing on a regular basis and can have a greater awareness of newly developed, proven opportunities within your industry.
Unhappy Customers. Turn a negative situation around. Have you learned to spot an unhappy customer? Do you try to find out what is wrong or just assume they are a grump. Is your first reaction short term - solve the immediate problem - or do you invest time to discover the root of the concern.
How Big Is The Problem? Is the problem bigger than the one customer who voiced it? They say 80% of unhappy customers will never tell you they are dissatisfied. They may tell their friends about your inability to satisfy them but not you. Sometimes a problem can be turned around and become a huge opportunity. If you understand that you do not have all the answers, you will likely be more inclined to take that unhappy customer aside, buy them a cup of coffee and ask for their help. People are flattered to know someone values their opinion and will usually give you the time needed to explore the problem and help you turn it into an opportunity.
Go Outside Your Industry. Don't restrict yourself to your own industry. Expose yourself to other businesses in different industries, seeing how they promote themselves, deal with customer service and gather information. Review magazine ads, visit websites, read brochures and go in to their stores. What are they doing right and what are they doing wrong? What turns you on as their customer and what turns you off.
Trade shows. Trade shows are a gold mine for new ideas. They are a great place to ask questions and get instant answers. Investigate ideas, both new to your industry and new to you. Pick the shows carefully and use your time wisely. Identify specific questions and go for specific answers.
Comment Cards. Comment cards from past customers are filled with ideas, directions and opportunities. There are no guarantees. Some ideas will be good, some bad and some great. Being open is the important part of the equation. Accepting the fact that someone else may have the answer is the first big step.

And That's According 2 Eric

Ever Have One of Those Days

eric@ericgilboord.com (Eric Gilboord) — Mon, 16 Jun 2008 21:36:00 +0000

Opportunity is trying to reach you every day. Stop standing in the way of your own success.
And That's According 2 Eric

Can a Small Business Compete with Larger Organizations...YES!!!

eric@ericgilboord.com (Eric Gilboord) — Mon, 16 Jun 2008 20:24:00 +0000

By Eric Gilboord

Due to popular demand Eric now offers a 45 minute keynote on this topic. Call 416-686-2466 for more information.

I'm often asked a very specific question, usually in a troubled voice, when speaking to groups of small business people. Can small business compete with Wal-Mart? Not to single out one retailer, we are really talking about any large organization. With the recent extensive expansion of businesses (and their sophisticated/aggressive approach to marketing and customer service) it’s no wonder this question is on the minds of many small businesses today.

I would like to suggest that what small businesses might be suffering from is an inferiority complex. We automatically assume defeat before we have considered the advantages we have going for us.

1. Outmaneuver Them
A small business can view itself as a speedboat able to maneuver quickly, slowing down or speeding up as needed, and completely turn around in a much smaller space than a larger business or battleship for example.

2. Offer Genuine Personal Attention
Small business can offer real, personal attention, greeting you by name and having a brief conversation as you enter their establishment. After all, customer service is more than screaming ‘hello’ indiscriminately when someone walks into a store. I find this particular activity, conducted mostly by larger chain stores, to be somewhat unsettling and quite insincere.

3. Choose Between Help And Help Yourself
I prefer to buy from a small business because they’re typically more ready, willing and able to help me. It seems like sometimes you have to make a choice between help and help yourself in the larger chains. Staff at some larger organizations tend to be busy stocking shelves and while they may point out where something is, they don’t always have the time or the expertise to assist you in making a purchasing decision.

4. Education
Education can be an important part of the purchasing process. When you have multiple products delivering essentially the same benefits it is not always easy to make the right choice. In order to select the best product or service for your needs you may require education. Small businesses tend to be better suited at offering assistance and in cases of special needs they are the only choice for 1 time requests or requests for unusual or rare products.

5. Tailor Your Product Offerings
A small business has the ability to tailor their product or service selection to their specific customers. The most popular products or services your specific customer group desires can be stocked in depth. This can be a disadvantage at some large businesses as they may carry a wide range of products but a very shallow depth of choice within a specific product group. Consider that your business may represent one section of one aisle at a big box store. You don't need to worry about the rest of their store and the rest of the products they offer as you are not in those businesses.

6. Training
Make sure you don’t make the same mistakes that some large businesses make. Don't fall into the trap of being too busy to provide good service. Unfortunately, several large businesses seem to have staff to stock shelves but not very many people to help you and in some cases even to take your money. Somehow I can’t imagine any small business allowing a customer to stand in the middle of the floor with their money in their hands and no one to give it to. This unfortunate experience happened to me in one of our well-established Canadian department stores. Forget about the concept of up selling, I couldn't even pay for the one item I came in to get.

But remember small doesn't automatically guarantee good service either. It's up to you to train your staff. Your larger competitors likely have training programs in place. You have an advantage in that you can have an informal, real time, on the spot, as needed training program for your staff. The trick is to augment any formal group training with small amounts of input at the time when the education is needed. If you notice something wrong or there's a situation where you can improve your service it can be put into effect almost immediately versus your larger competitors - the battleship, who may have to take months to develop a more formal structured training program.

7. Don’t Compete On Price Alone
Some small businesses charge a little more than a larger competitor but that's OK. There are segments of your target group willing to pay a little more in order to receive additional service. It's up to you to provide the additional service. And make sure they are aware they are receiving added value. There will always be customers that look for the lowest price and they will shop around, use your time and expertise and ultimately end up going to your larger competitors to make the purchase.

It's your job to recognize these people and to show them the difference in purchasing from you verses a larger competitor. Customers are not mind readers. You need to educate them to the advantages of doing business with you. An important part of the staff training.

The ideas in this column apply to many business categories such as retail, manufacturing, and industrial or professional services. No matter what business you are in, act like a speedboat and outmaneuver the battleship. Go out and run circles around big business.

And That's According 2 Eric

Eric's Introduction Letter

eric@ericgilboord.com (Eric Gilboord) — Wed, 11 Jun 2008 15:53:00 +0000

Wise Advice for Business or Sport

eric@ericgilboord.com (Eric Gilboord) — Wed, 11 Jun 2008 14:06:00 +0000

"Skate where the puck's going, not where it's been."
Walter Gretzky's advice to his son hockey star Wayne.

Live Test of Viral Marketing EXTENDED

eric@ericgilboord.com (Eric Gilboord) — Thu, 29 May 2008 04:42:00 +0000

Let's test viral marketing.

I will give every visitor to my blog a FREE e-copy of my book 'Just Tell Me What To Do - Easy Marketing Tips for Small Business.

Email your friends, all your friends, family and business associates and tell them about this one time offer. Send them to my blog http://www.ericgilboord.blogspot.com/ for this offer.

Just email me at eric@ericgilboord.com write 'FREE BOOK' in the subject line and get your FREE e-book.

And That's According 2 Eric