Archive for Small Business

Lessons for Entrepreneurs from the Worst of Dragons’ Den and Shark Tank

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Saturday, February 23rd, 2013

There are a lot of lessons to be learned by entrepreneurs from the worst pitches on Dragons’ Den and Shark Tank.

Here are some examples of the worst pitches from around the world and our thoughts on why they didn’t succeed.

 

No Fly Cone – Shark Tank (US)

Even a surprise appearance by Seth McFarlane couldn’t help this guy’s business.  Unfortunately, the logistics for his product, well, stunk.

 

Happiness Product Line – Shark Tank (US)

We’re all about conscious business and love this idea!  But realistically, how likely was it that the Sharks would go for an idea like this?  Unfortunately, given her numbers, her business is still more a hobby than a business.

 

Bottled Intentions – Dragons Den (Canada)

There’s something to be said about the power of intention.  Perhaps the product would’ve had a chance if it was from a well known expert in the field or a coach, author or speaker.

 

CrowdFanatical – Dragons Den (Canada)

This business might have had a chance (however doubtful), if his numbers weren’t inflated, with no plan for how to get there.  Realistic, achievable numbers and a strategy to get there are always key.

 

UV Bodysculpture – Dragons Den (UK)

As much as the Dragons fell in love with this guy’s personality, there were some major flaws to his pitch.  If he couldn’t make his product successful for almost two decades, what would help now?  Business owners need to prove it themselves first.

 

Female building company – Dragon’s Den (UK)

With no knowledge of the Dragons, no background in the field, no sales and a borderline discriminatory and sexist business, this one was hard to watch.  A bad attitude is a never a good idea when unprepared.  Be someone people want to work with.

 

Did we miss any great ones?  Share your favourites in the comment section.

Categories : Business Experts, Entrepreneurial Lifestyle, Entrepreneurial News/Stories, Marketing, Small Business, Starting a Business
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How Virtual Teams Provide the Best Customer Support

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Wednesday, February 20th, 2013

Wondering how virtual teams provide the best customer support and service?

Not since the Industrial Revolution have businesses seen the types of advancement in work styles that have brought on the birth of virtual teams and with them, customer support has flourished.

With constantly evolving innovations in technology and an economy in recession, more businesses than ever hire outsourced virtual support for their customers. If you are outsouricing customer service or support, here are the core questions to ask yourself: How can you give customers the best service and maintain a high level of integrity? What are customers looking for?  What can your business and virtual team provide that no one else can offer?

The most important request that is heard repeatedly from customers of our clients is to have support staff in place and available. Customers should not have to wait.  They want someone to converse with them in a way that they understand, while also taking the time to ask pertinent questions and listen to the answers without interruptions. If there is something they don’t understand, it should be explained fully, especially if it involves payment for services. This means in depth knowledge of the product or service that you are offering.

The second concern with many clients is confidentiality and security. They need to know that any information they pass on will remain within the company and only be available to those who absolutely need it. Access to private information needs to be limited. It is important to go over system processes and ensure that the customer’s account information will not be compromised at any time.

Finally, a measure of excellent virtual customer support is a team that follows up, preferably by phone. Many customers at some point will call back with questions or problems about your service or product. The best way to retain customers is to always follow up, whether they have made a purchase or not.  This helps your customers to feel recognized and important, even if they didn’t immediately make a purchase yet.

Retention of customers who make ongoing purchases will provide the backbone of any business. Having a process in place to ensure they receive excellent customer service is the best way to do this. These customers, the most important, loyal customers, will help to increase the customer base by word of mouth.

Virtual teams providing customer support need to be twice as organized as on-site customer service representatives. They usually use their own CRMs and other in-the-cloud management software. All members of the team should be focused on making sure they are up to date with the latest technology as they are competing with other virtual teams that are available. The virtual work style is here to stay and forces accountability. Diverse abilities and enthusiasm for excellence will pave the way for increasing opportunities in virtual support.

“It is a funny thing about life: If you refuse to accept anything but the best you very often get it.” -W. Somerset Maugham

Chris Draper

© DemGen 2013

 

 

 

Categories : Customer Service, Entrepreneurial Lifestyle, Lead Management, Quotes, Small Business, Time Management
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How Canada’s Anti-Spam Law Will Affect Your Business

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Wednesday, February 13th, 2013

If you’re a business owner, marketer or conduct any business in Canada, you’re undoubtedly aware of the proposed changes to Canada’s anti-spam law (CASL).

CASL prohibits the sending of unsolicited commercial electronic messages (CEMs) without prior consent of the recipient and provides rules regarding the manner in which such messages may be sent.  The legislation is expected to come into force in late 2013.

The legislation imposes significant monetary penalties for the sending of unsolicited CEMs, the alteration of transmission data, and the unauthorized installation of computer programs.  Financial penalties range up to $1 million for an individual and up to $10 million for a business per violation.

On January 5, Industry Canada released its newest version of the proposed regulations, accepting comments until February 4.

For the past month, businesses and groups from across the country have been expressing their concerns by taking action with a campaign against the legislation.

Though we can all agree that excessive spam is not a good thing, businesses are concerned about the strict requirements, costs to implement and hefty fines for mistakes.

For more information, review the full proposed law and the official site.

The Canadian Chamber of Commerce has taken a hard stance against the legislation and provided a summary of the law and action you can take.

Though it’s past the deadline to submit comments to Industry Canada, you can still contact your member of parliament.

What do you think about the CASL?  Let us know in the comments section.

Categories : Entrepreneurial News/Stories, Lead Management, Marketing, Sales, Small Business, Social Media
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DemGen’s Expert Team: Systems & Technology

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Wednesday, January 30th, 2013

Each week we have been covering one of the experts from our team.  This week we’d like to introduce you to Louise Hull, our Systems & Technology Goddess.

Louise joined DemGen’s virtual team in early 2011, bringing over 30 years of diverse experience in progressive positions, ranging from working with successful entrepreneurs to Fortune 500 companies.

Her innate ability to quickly identify our clients’ individual needs allows her to develop and implement sustainable solutions to move their business forward.  Her passion for excellence ensures continuous improvement of systems and strategies, as well as exceptional customer service.

Louise’s expertise is in such high demand that she was flown out of the country to facilitate a client’s premier event, to huge success.  (It’s no wonder our client fondly refers to her as her ‘goddess’!)

In her own words:  At DemGen I enjoy having the ability to use varied talents rather than being pigeonholed with one brushstroke.  This atmosphere motivates you to develop new concepts, innovative ideas and mental stimulation.  Even better, the success and happiness you feel, is possible by working virtually from your home office.

© DemGen Inc.

Categories : Business Experts, Entrepreneurial Lifestyle, Small Business, Virtual Teams
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A Review of Infusionsoft’s New Acquisition GroSocial

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Saturday, January 26th, 2013

When we heard the news of Infusionsoft’s latest acquisition earlier this week, we were excited (to say the least).

The news came on the heels of $54 million in funding from Goldman Sachs, so it’s sure been a busy week for Infusionsoft!

As we discussed in another post, we made the switch to Infusionsoft last year and haven’t looked back!  Naturally, the news of an application for social media had us intrigued…

After signing up for the free trial, it’s evident that there are both benefits and drawbacks to the system.

Pros

Integration with Infusionsoft is an obvious benefit, allowing opt-ins for email marketing through social media.

It’s a great system for beginners that are running a small business that need an easy way to setup Facebook and Twitter pages, especially if you’re doing it all yourself.

Key features include the ability to easily create Facebook cover images and Twitter backgrounds using Infusionsoft’s drag and drop format (without the need of a graphic designer), analytics reporting and simple set-up for Facebook contests and promotions.

If you’re new to the social media world and want an easy solution, this might be the right tool for you.

Con

The main drawback for GroSocial is that it only works with Facebook and Twitter.  If you have a strong presence on other platforms such as LinkedIn, Google+ or Pinterest, you will still need to use them as you have been.

Here at DemGen our virtual team has worked hard to create systems both internally and for our clients.  As much as we love Infusionsoft, we’re not quite sold on GroSocial enough to change our current systems.  (“If it ain’t broke, don’t try to fix it.”)

Another issue we’ve come across is that the GroSocial servers weren’t ready for all of the new activity.  We’re sure this will be fixed soon, but not a great first impression.

The Bottom Line

GroSocial is definitely worth checking out to evaluate whether it’s the right solution for your business.  With a 30 day free trial (no credit card required), why not?

If you already have an established system in place and/or a team assisting you with social networking, you may be a bit underwhelmed.

If you are just starting out and don’t know where to start, GroSocial may be the perfect system for you.

Here are some key questions to ask yourself when evaluating:

  • Is your current social media strategy working effectively?
  • Do you use LinkedIn, Google+, Pinterest or other platforms actively as part of your marketing mix?
  • Do you have a team assisting you with social networking and graphic design?

Let us know what you think in the comments section and don’t forget to check us out on social media!

© DemGen Inc

Categories : Business Tools, Entrepreneurial Lifestyle, Small Business, Social Media
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Keeping Your Business Fit

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Monday, January 21st, 2013

I saw this quote, “You cannot build fitness on dysfunction” ~ Gray Cook”, on a client’s site in the fitness industry.

We had a very healthy dialogue and I mentioned this quote buried within their site and why it resonated with me.

Immediately, I converted it to the general fitness of a business, as I have periodically encountered “dysfunction” within clients and prospective client’s business models.

Obviously if we are hired to restore function, grow sales, improve customer satisfaction and communications, we need to be able to address the “dysfunctional” aspects first.  If a client is not wanting/willing to address these concerns, I feel professionally tied and unable to move them to health and vitality, and therefore recommend they choose another “doctor”.

The problem typically does not require radical change and is a relatively easy fix in our view.  A good example is when a client requests that we generate more customers and we discover that their current clients are not being properly cared for.  We’d recommend that they take a look at their entire customer life cycle and resolve any issues, before they move forward and grow.

The “Fix” may be creating systems, enabling proper and consistent follow through, training or retraining a current staff member of their team.  The main point is that more sales is not always the answer.

I’ve found that there is typically “dysfunction” at some level and to some degree with all companies, mine included.  The real value comes in determining if it critically affects your internal team and becomes rampant and/or affects your clients in a critical way.  I don’t think we need a degree to figure out what the root cause is and have the will to resolve, heal and come from a place of health.

Maybe start with a few questions:  why am I here?  What’s the purpose of this business?  Who do we serve and how do we serve them best?  Is this situation effecting the positive outcome to those answers and if so, what do I need to do to resolve it.

My challenge to you is to pick an area of dysfunction within your business and restore it to health.  I’m going to do the same.

Wishing you a vibrant, healthy and fit business!

Gary Evans

Categories : Small Business
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Driving the Bus Deserves Your Full Focus

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Thursday, January 10th, 2013

Scott Eblin, in his book The Next Level, makes some super suggestions for newly promoted managers. In this post, I take the liberty of adapting Scott’s advice for the benefit of new business owners and seasoned entrepreneurs.

Are you a person who works extra hard and gets things done? Have you always been fiercely self-sufficient? When you are ready to grow your business, it is time to build a team and let others do the work. You can get more done by supporting team members to use their skill sets and expertise in the functional roles that your business requires. For some owners, this requires a change of mindset.

The scope of work naturally expands with the growth of your business. Results are expected in more and more areas of expertise. In your crucial role as the business owner, your greatest results will come from using your genius abilities in the ways that maximize your value. How can you best perform that role? Delegate to others, so that you focus on tasks that only you can do.

Though you are ultimately accountable for the results of all who work on your behalf, your team will function best with clear goals and directions and the independence to use its expertise within the systems you’ve established. When you provide support, performance milestones and accountability, team members will figure out how to do the tasks using their expertise. You’ll get more done if you allow others to do what they do best.

There are tremendous benefits in learning from other entrepreneurs’ experience of what does and does not work in any given situation. You gain perspective and valuable insights by widening the scope of your radar beyond your own business model. Be open to the many resources available and network with others who have complementary business growth goals. Find a mentor. Be coachable. In this way, you can take a look at your company from the outside in.

Self-renewal is essential to be at your physical and mental prime. Adding more and more things to your own routine will surely lead to an eventual overload, so learn to set healthy boundaries and give yourself the time you need to recharge. Decide what is most important for you to do, focus on that and say “no” to all the rest.

The best way to ‘drive the bus’ is to give that job your full attention.

Julie Nierenberg

Categories : Entrepreneurial Lifestyle, Small Business
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Who Do You Trust Your Business With?

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Monday, January 7th, 2013

Imagine, one of your most precious assets in your life (your company), and you seek  to hire the cheapest possible talent to care for it!  I’m not against finding a good deal or making the lowest investment for the highest return.  But, let’s face it – if you feel you are getting away with a super duper deal at someone else’s expense, lack of self-worth or experience to negotiate – it’s probably not a win for you in the end.

I was looking for a cleaner on Craigslist and came across this ad…

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Of course I immediately translated this to the business world and see the same thing en masse.

Let’s STOP the madness!  If your business provides your life force fuel (job satisfaction, mastery of skills, money, etc) for you and possibly many other people, is it not worth a deeper investment to find the right fit vs. the cheapest labor source?

I’ve seen it many times, where we (DemGen) have come into a situation where we are cleaning up after the other cheaper or sometimes more expensive but less effective babysitter.  We come on board to find there were no or inefficient systems created, lack of internal/external communications, no documentation, redundancy of tasks, too many chefs, disorder/chaos and slow to no growth.  The entrepreneur didn’t feel confident to take time off and had to micro-manage.  What’s the sense of hiring a babysitter and then staying home to watch over things?

DemGen played a little joke (or what we thought was a joke) for April Fools last year.  We wanted something that was a little far-fetched, and yet not out of reach and certainly possible for us to handle.  We laid out a special offer for business sitters.  And guess what?  It worked!  We had live, real feedback wanting to know more.  In essence, we do actually care for your business, so it’s not a stretch.  If you were to go away for a few months could your business thrive or even survive?

THIS IS NOT A JOKE:  If that’s your goal, we can support you in accomplishing it!  Just send us an email to schedule a discovery call so we can find out more about each other.  HINT:  This should be a goal for all, whether you are going away for a little while or not, it’s not a sellable business if it can’t run without you.

 

Categories : Business Experts, Small Business, Virtual Teams
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The World Did NOT Come to an End!

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Friday, December 21st, 2012

We’re still here!  As DemGen predicted we’ve made it through December 21, 2012 and the world DID NOT come to an end.  I’ve been looking from afar on this topic for years.

My assessment is simply that the Mayans had some incredible predictions up to now, and yet I always affirm that I am in charge of my destiny…Of course lost books and scrolls will be found, and others will come along to lay out long-term predictions.  But let’s be practical, we’re entrepreneurs and WE make the now and the future!  Yes, I hold Nostradamus, the Mayans and many other seers in high regard and appreciate their works.  Yet, when it comes to making the here and now, small and medium business owners and their creative teams make it happen!My other viewpoint on this topic is that we are moving from an old model of doing business (command and control), to a more collaborative, team-based, share the wealth and the credit approach.  We have the privilege of working with many entrepreneurs (clients and team) who share this model.  I feel we have designed DemGen to encompass the new model.  It’s an ever-exciting time to be in business with boundless ideas and opportunities.

Okay, so let’s say that you don’t subscribe to the whole “world is coming to an end” mindset.  Perhaps at some subconscious level though you haven’t really put the business success thrusters on lately, because, well…what if we don’t make it – I mean why bust my butt?  Maybe you haven’t quite been pursuing your goals and dreams with full force.

Now that you know we’re all still here, are you happy with the position of your business at the end of 2012 going into a wild frontier of 2013?  Here at DemGen, we know exactly where we’re headed.  We already have an influx of clients coming on in 2013 and are set to launch new programs that will service entrepreneurs all the better.  I hope you feel as great as we do about welcoming in the New Year!

If you want support in creating your ideal future vision for your business and keeping on track, I invite you to call us today.  Let’s get those success thrusters on!

Wishing you an outrageously successful 2013 and beyond!

Let’s Grow!

Gary

 

Categories : Business Experts, Small Business
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Use Content to Generate Sales and Loyal Subscribers

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Thursday, December 6th, 2012

Customers come to you because they seek your unique product or service, and they’re either ready to buy now or they’re considering a purchase. Either way, your goal is to keep them coming back and actively engaged. You can do that with content!

Valuable information that customers can use in their personal lives or in the operation of their own businesses is one way to keep their interest. Knowing what information your customers want to learn more about gives you an opportunity to provide it, to solidify their relationship with you and prompts them to refer other potential customers.

How do you find out what customers want to know?

  • Quick surveys can elicit specific information about problems for which they seek answers (see more below about how to leverage a survey).
  • Check the predominant keyword searches in your industry, finding out what themes are used the most on the major online search engines.
  • Ask as a routine part of your newsletter or blog communications. Encourage comments and questions, and take note of the responses you receive. You and your readers can learn from opening a dialogue.

After researching your niche for content ideas, provide information to your subscribers, making it about your industry or marketing niche, rather than about you.

Write blog posts, a great way to deliver content in a very informal style that engages your readers. Consider guest bloggers too, another great way to leverage your position as the go-to source in your industry.

Provide whitepapers or eBooks as downloads on your website in exchange for customer information (such as completing a short survey) and newsletter signup.

Record short video demonstrations that can be delivered in a newsletter, blog or from your website. Videos rank higher in a search engine than other types of content and will help your customers put a face with your name or brand.

Follow up. Make sure you contact your customers shortly after they download your content. Point out other value-added content they may access from you. Set them up to expect future value you will provide.

Encourage sharing with friends on social media or via email forwarding. Cultivate customer referrals with the valuable content you deliver.

Establish your expertise with useful information. Delivery of unique content will enliven your brand and position you well for future sales.

What challenges do you face with finding or delivering content to your customers?

Julie Nierenberg

 

Categories : Small Business, Social Media
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