Be different. Do tests.

If your a small business, own what your good at, own your strengths. Being a small business allows you the ability to more freely test ideas. So think unconventionally.

Are you a vendor, manufacturer or retailer I want to give you an example. Take shampoo. Shampoo is one of the things most people become loyal to. People are passionate to the point of conviction and zeal when it comes to what type of shampoo they use. Some of the reason is because no-one wants to risk buying a shampoo that smells bad. Not only is most shampoo sealed so you can’t test it, it smells differently in the hair. What kind of customer wants to waste 15 dollars testing?

Well… I started asking the question how could one create interest in an already very saturated market? Well what I came up with is unconventional.

1) Offer to shampoo and blow dry peoples hair at the source, in the retailers. It creates exposure, it’s measurable and it’s affordable.

It may not be right, it may be, but the very purpose of it is for its unconventionality. It gains exposure through word of mouth, and the media would definitely eat it up. Think Buzz.

My point is. In order to have an edge in todays market we need to be different.

What is your small business doing to be different? 

Choosing the right customers.

Just as you need to choose the right employees for your business, you need to choose the right customers. If you have heard of Pareto’s principle then your familiar with the rule that 20% of your customers provide 80% of your business. What businesses need to ask themselves is -- how can they provide that 20% of people the best experience. This is not an easy question to answer, but on discovering it businesses will be able to fully develop their culture and ambiance to attract these longer term customers.

When a potential customer comes in and buys something it means nothing to have them buy something once, a business thrives off of repeat customers. Businesses should look to achieve a high customer conversion rate, a good place to start is by looking at successful competitors. What do they do? What can you improve on? 

I have some personal opinions on achieving a high customer conversion rate and I would one day like to experiment with it through using social norms. Conventional methods (and they do work) will tell you reward programs (free coffee, airmiles etc..) are one of the most effective tools in converting people into long-term customers, unfortunately with so many companies offering rewards – companies need to discover new means of converting customers.

What customers are best for your business?

Choosing the right people can mean success

Choosing the wrong people can mean failure.

Small Businesses are too often built on the shoulders of one or a few people. Unfortunately they can also crash on the shoulders of one or a few people.

When you need to cut your losses and fire someone, don’t tell yourself excuses. All to often we tell ourselves they can succeed. Or he’s my guy. Or I can coach him. The truth is, there will be people who just aren’t right for the job – solve the solution and remove them quickly. One bad person can prevent the success of an entire team.

Instead, when hiring be thorough. Be persistent in finding the right people for your business. If your having trouble finding the right people – it may be a tell tale sign that your not attracting the sort of business or individuals that you thought you were targeting. It might reveal a need to revisit your stores culture and reshape it to target the correct audience.

Today’s question. Who are your most important employees? What do they do to create success for your business? 

Innovative? Kind of. Awesome for the new entrepreneur? YES!!!!

I’ve compiled a short lists of companies that can be a motivating force for the new entrepreneur to start it up!

Magic Bean is an new online incubator of start-ups. Apply for their 2011 year, and get advice from people that have done it!

http://magicbeansinc.com/

Build your website with shopify, become the most successful among the other entrepreneurs, or even just in your category and win some HUGGEE money. Along with the chance to sit with some top industry experts and entrepreneurs  like Seth Godin, Gary Vaynerchuck and Tim Ferris.

http://www.shopify.com/contest

Making profits and changing the world for the positive is your thing? Then come up with a great idea as a social entrepreneur. It’s free. Work in several stages to come up with an idea, and start incubating that idea. This year: Trim the waste of fashion. Winner receives $40,000 toward their business

http://www.yoxi.tv/

Got a creative project you need funding for? Well it works like micro-financing except you never need to pay anybody back. I highly recommend this site if you have a brilliant idea, some execution and need a further push.

http://www.kickstarter.com/

Outsourcing can help the new start-up cut costs, look to websites like freelancer to help you do that.

http://www.freelancer.com/

Product Placement

Seriously. Product placement is important.

Question of the day: So why don’t supermarkets or grocery stores put the same types of foods together. Categories. Taco stuff, Asian stuff. And I do mean everything.

The shells, the refried beans, the meat… everything! . People shop for meals, why not cater to that and make it easier for them to find everything they need. Simplicity for a customer means they will spread the word of your ingenuity.

Think about it.

The 10 Human Victories

The flip-side of the 10 Human Regrets. I recommend all of you picking up the book “The leader with no Title” by Robin Sharma and putting yourself in the position of the character – it’s profound.

#1. You reach your end full of happiness and fulfillment on realizing that you are all used up-having spent the fullness of your talents, the biggest of your resources, and the best of your potential doing great work and leading a rare-air life.

#2.You reach your end knowing that you played at a standard of concentrated excellence and held yourself to the most impeccable of standards in each thing you did.

#3. You reach your end in noisy celebration for having the boldness of spirit to have regularly confronted your largest fears and realized your highest visions.

#4. You reach your end and recognize that you became the person who built people up versus one who tore people down.

#5. You reach your end with the understanding that while your journey may not always been a smooth one, whenever you get knocked down you instantly got back up-and at all times, never suffered from any lack of optimism.

#6. You reach the end and bask in the glory of your phenomenal achievements along with the rich value you have contributed to the lives of the people you were lucky to serve.

#7. You reach the end and value the strong, ethical, inspirational person you grew into.

#8. You reach the end and realize that you were a genuine innovator who blazed new trails instead of following old roads.

#9. You reach your end surrounded with teammates who call you a rockstar, and loved ones who call you a legend.

#10. You reach your end as a true Leader Without a Title, knowing that the great deeds you did will endure long after your death and your life stands as a model of possibility.

The 10 Human Regrets

I just started reading a new book I picked up over the weekend called “The leader who had no title” by Robin Sharma.

I haven’t gotten very far, but what i’ve read so far has been profound.

I’d like to share with you the 10 Human Regrets. They are very direct and can be overwhelming – don’t read further if your not prepared to be kicked in the face.

1. You reach your last day with the brilliant song that your life was meant to sing still silent within you.

2. You reach your last day without ever having experienced the natural power that inhabits you to do great work and achieve great things.

3. You reach your last day realizing that you never inspired anyone else by the example that you set.

4. You reach your last day full of pain at the realization that you never took any bold risks and so you never received any bright rewards.

5. You reach your last day understanding that you missed the opportunity to catch a glimpse of mastery because you bought into the lie that you had to be resigned to mediocrity.

6. You reach your last day and feel heart broken that you never learned the skill of transforming adversity into victory and lead into gold.

7. You reach your last day regretting that you forgot that work is about being radically helpful to others rather than being helpful only to yourself.

8.You reach your last day with the awareness that you ended up living the life that society trained you to want versus leading the life you truly wanted to have.

9. You reached your last day and awaken to the fact that you never realized your absolute best nor touched the special genius that you were built to become.

10. You reach your last day and discover you could have been a leader and left this world so much better than you found it. But you refused to accept that mission because you were just too scared. And so you failed. And wasted a life.

Check back tomorrow for part 2: The 10 Human Victories.