Monthly Archive for February, 2015
As you may remember, I’ve been reporting on the Net Neutrality issue for over a decade, including all the significant players in the debate.
Most reasonable people agree that one of the reasons the Internet has been such a phenomenal success is because it has been so lightly regulated. However, as I reported recently, President Obama has taken executive steps to make the Internet a public utility, subject to all sorts of government oversight.
When we asked our small business audience what they thought about this plan, almost three-fourths reject the president’s idea, with only 2% who think his plan is good.
One reason for this overwhelming response against the president is because small business owners have benefited on many levels, directly and indirectly, from an unencumbered Internet. And since over half of the U.S. economy is produced by small businesses, the president should pay attention to what this sector thinks.
In case you missed them, here are links to three articles I’ve written about the president’s behavior regarding the Internet.
This month marks the 206th birthday of America’s 16th president, Abraham Lincoln’s life and hard times continue to inspire generation after generation of leaders and followers so much that 150 years after his death Honest Abe is still one of the most important individuals in the history of the United States.
Lincoln’s story is especially important for small business owners. Every day along the business ownership continuum, from startup to locking up for the last time, Main Street merchants can draw strength and inspiration from the uncomplicated and honest witness of Lincoln’s character.
But, ironically, beyond his leadership record, we’re perhaps more inspired by how he persevered in the face of painful adversity and professional failures. Consider this partial list of Lincoln’s life challenges:
• Failed in business in 1831 and 1833
• Defeated for state legislator in 1832
• Fiancee died in 1835
• Had a nervous breakdown in 1836
• Ran for Congress in 1843 and ’48; lost both races
• Ran for the Senate in 1855 and ’59; lost both races
• Ran for Vice President in 1856 and lost
• Buried two of his four beloved sons
• Elected President in 1860 as America’s house divided and dissolved into “a great civil war”Reading this list, one is overwhelmed by two emotions:
1. Sadness - that any one person would experience so many unfortunate things;
2. Admiration - that in the face of such adversity, anyone could accomplish so much.
Nine years after critics wrote him off as a political player, Lincoln accomplished leadership feats and professional successes that were nothing short of heroic. And for these, history recognizes him as one of America’s greatest presidents.
As 2015 unfolds, if you’re ever tempted to slump into a self-involved pity party because the marketplace licked the red off your candy, go back and reread Lincoln’s failures and setbacks. This time you might feel two other emotions:
1. Shame - that you allowed yourself to lapse into a funk;
2. Renewed perseverance – now realizing that, like Lincoln, as long as you’re alive, every new day you show up to work on your business and life could be the day you turn the corner and win the war.
Lincoln taught us that often the difference between bold accomplishment and painful setback is the courage, character and diligence to persevere.
Write this on a rock …
There is no better model of courage, character and perseverance than Abraham Lincoln. Let his life inspire yours.
Employment growth has historically been one of the indicators of economic optimism. So when barely one-in-five of our respondents are making plans to hire, we have to be honest and admit that doesn’t bode well for the economy in 2015. However, as mentioned above, if good news could start taking over the headlines, those who plan to hire and those who would hire could turn the tide and result in over 80% of small businesses putting more new employees to work.
I’m working on more about this for an upcoming Feature Article, so stay tuned. Thanks for participating.
Courage is certainly not unique to entrepreneurs, but it is a characteristic very much in evidence in our world. And the abstract that we are willing to fight for is our vision.
When you start a small business you demonstrate courage. When you persevere in the face of entrenched paradigms and small-minded naysayers, you demonstrate courage.
And what about failure? If you fail - nay, when you fail - welcome to the rarified air of the courageous. Since you can’t fail if you don’t try, only the courageous can know failure.
For as long as businesses have tried to get customers to buy their stuff, a referral has been the holy grail of prospecting. Like the mythical chalice, a referral is golden.
To emphasize the power of referrals, allow me to introduce “Blasingame’s Prospect Entrée Spectrum” (BPES), which is a way of valuing the method used to get in front of a prospect.
The BPES is on a scale of 1-10, with a cold call being a 1, and the unqualified referral a 10. The difference between scoring a referral and making a cold call is, to borrow from Mark Twain, like the difference between lightning and a lightning bug. Let me put a sharper point on that: In the Age of the Customer, cold calling is a fool’s errand.
Asking for and getting an appointment is a 5. From 2 to 5 on the spectrum are varying degrees of quality of connection that you attempt without a referral, like networking. From 6 to 9 represents varying quality of referrals. For example, a 6 is a casual referral with one of two qualifications attached: either the referrer doesn’t know you well, or doesn’t know the prospect well. The goals is to demonstrate you’re worthy of a full-throated, unqualified referral — 10 — which is almost money in the bank. When you hear someone say they’re working smarter, not harder, it means they’re earning lots of referrals, including an increasing number of 10s.
Here are five things to do to sustain a successful referral strategy:
2. Help customers give you referrals by teaching them how to tell others about you and your business. Instructions must be short and sweet, like an elevator pitch.
3. Be worthy of a referral. Take good care of the referred prospect, even if you don’t make a sale.
4. Thank the referrer every time, in person if possible, regardless of the result of the referral. Remember, getting a referral is success.
5. If you want to get referrals, give them to others.
On that last point, in Ecclesiastes 11:1, King Solomon wrote, “Cast your bread upon the water and in time it will come back to you.” Three millennia later, Ivan Misner, my friend and founder of Business Network International (BNI) gave us a handier way to remember the law of reciprocity. Ivan simply says, “Givers gain.” Beautiful.
In the Age of the Customer if you’re not asking for and getting referrals, you’ll have to work much harder than is necessary just to survive.
Write this on a rock … Seek the holy grail and Perfect 10 of prospecting – the unqualified referral.