Investing In Yourself…and Business

wallet, no money, marketing
Marketing dollars?

How much should I invest in myself or my business? First off – you should have money to market your business and / or yourself.

Do you have a sales budget aka how much revenue do you expect to make this year? What’s your salary? What’s your expected commission?

Good. You have that number. Now – at a bare minimum – take 2% of that number. There’s your marketing budget. It would be best to have 10%, but let’s start with 2%. The same goes when trying to figure out how much to invest in yourself.

Oh you don’t invest in yourself? START!

Read a book, invest in a course, invest in a gym membership, a magazine subscription…do it.

So you have a budget now. What do you do with it? Whether it’s $500 or $500,000 find as many things as possible that you can own.

What do I mean?

Marketing dollars are often spent throwing money at this thing, and that thing. IT’S BETTER TO OWN SOMETHING! Take your $100, print some sales letters (here are some of my personal B2B examples) or brochures you did up in Word, and deliver them to every single apartment in the complex beside your business (or to every house on a street located near your business). Then do it again a week or two later. You need to hit as many people over the head with your message. The tricky part is ensuring the message MATTERS TO THEM. More on that here…

(Remember – I don’t give a shit about you, until you can do something for me. Whether it’s nourish me, allow me to keep extra jingle in my jeans, or help me out in some way, shape or form.)

You need to do this repeatedly. SOOOO many of you try something out once, don’t see results, and then say, “Well, that didn’t work.” Of course it didn’t work. Repetition Repetition Repetition.

Remember how you were taught in school? It probably went something like this… At the beginning of the class (or semester) your teacher would tell you what they were going to teach you, then teach you it, then review what they taught you. Repetition Repetition Repetition.

This is how our brains have been programmed since kindergarten, so start using the philosophy in your marketing. Find something you can own. Then repeat repeat repeat.

It sometimes takes me 12 – 15 contacts until I make a sale. I repeat, repeat, repeat my process. And you know what, when I call, walk into an appointment or see one of my prospects at an event…they immediately KNOW WHO I AM. It should be the same way with you and your business.

If you’re buying radio ads (for example), and you don’t have money to throw around like the ‘big guys’, again find something you can own. Maybe it’s an hour every Monday over the next few weeks. Maybe it’s an entire week. Whatever it is, find something you can own, then repeat repeat repeat.

1) Find money or find time to focus on marketing
2) Find something you can own
3) Repeat Repeat Repeat

Tell me ONE marketing opportunity you have at the moment (print, direct mail, radio, tv, social media, whatever…) and leave it in the comments below. I’ll tell you how to EXPLOIT that opportunity with repetition. I’ve purchased nearly every type of media, and used as many media channels as possible to further the brands, and people I work with (including myself). For being a loyal reader it’s the least I can do.

Love you,

Jordan ‘The Guy With The Bow Tie’ Rycroft

Ps. If you didn’t catch this further up the page – check out my personal one pagers I hand out or leave after a presentation.

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Start Using This Sales Tool Today – "How Do I Get To The Next Level?"

next level, ladder, climb, business

It’s the climb…

How many times have you heard “Needs Analysis”? I used to hear it daily, as this was always on my sales manager’s mind when it came to meeting with any prospect. I used to have a laundry list of questions, 9 times out of 10, supplied to me. “These will help get you closer to closing the deal,” said the sales manager. Meanwhile, my eyes were rolling so hard you would have thought I was dead.

Your prospects time is limited. If you’re able to get in front of them (in person, video chat, phone, whatever) don’t waste your time going through a laundry list of questions that makes it seem like an interrogation. Hit ’em with the Force Field Analysis, and maybe just maybe they’ll give you a hug.

Within minutes you’ll put the focus on your prospects business and you will immediately uncover their pain points. It’s the fastest Survey Monkey survey ever. At the very least, you’ll position yourself as a sales person who’s different and an ally for your prospect rather than a nuisance. 

This is also a great way to qualify your prospect. Maybe what their business really needs is something you can’t offer them. This gives you the chance to part ways amicably. This could also open the door for you to refer them to someone you know who can help them.

Best case scenario – it opens the door for you to help them out and get closer to signing the deal.

Force Field Analysis, Guy With The Bow Tie, Jordan Rycroft

Action step: Test out the Force Field Analysis on yourself. 
Take a piece of paper, and draw a horizontal line. Mark it as “Day 1.” Then draw three arrows going up from that line, and draw another line. Label it “Today.” Then ask yourself, “What are three things that took you from Day 1 to where you are today?”

Then draw another horizontal line above the “Today” line, and label it “Next Level.” Draw three arrows down from this line, then ask yourself, “What are three things preventing me from getting to the next level?”

This will clear your mind, and allow you to focus in on what’s really important. Then circle one of those items you wrote down that’s preventing you from getting to the next level and devote your time to it. Maybe it’s investing in yourself, which you’ve already done by doing the Force Field Analysis. The Force Field Analysis may not be the right thing for you, but I’ve found it to work time, and time again for my clients and myself. I’ve even done it on the back of a golf scorecard and on a napkin at a pancake breakfast. You can damn near do it anywhere, which makes it an excellent tool for your sales toolkit.

If you need more direction on this or if you’re stuck trying to analyze yourself – shoot me an email at effumarketing@gmail.com. Or leave a comment below. I read every message, and I’d be happy to help, as long as you aren’t an asshole.

Love you,

Jordan ‘The Guy with the Bow Tie’ Rycroft

PS. If you want more tips like this direct to your inbox – sign up for my newsletter below.

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What You Can Learn from Donald Trump

The Donald

Love him or hate him – you know him, and that’s the whole point about branding. Whether it’s your personal brand or business the opposite of love isn’t hate…it’s indifference. Just his name elicits feelings for you right now. He makes you feel something. That’s what you have to do if you want to make a splash in this world.

Some takeaways

Putting your opinions of him aside – you can’t doubt the personal brand of Donald Trump. Granted he was born with name equity there’s plenty you can take from The Donald.

  1. Find your niche and preach. You don’t have to be everything to everybody. Just find a few people who believe in what you’re saying or doing, and continue to nurture them and tell them (or even believe) the things they want to hear.
  2. Don’t back down. If you believe in your ideas, don’t back down from naysayer’s. The amount of people who have discredited Donald Trump is, as he would say, HUGE! However, he continues to stick to what got ’em here… A loud mouth and take no shit mentality. You may not like it, but his supporters LOVE it.
  3. Zag when others Zig. When he first made the claim he was going to run for President, everyone laughed. Then he went on a tear and got the Republican nomination, and you know the rest. He did it by going against the system. He time and time again, said that he was an outsider, a businessman and not a politician. Even the word politician gives people chills, so he was smart (yes, I said smart) to go against the grain and call out the politicians and find his own lane.

Your ideas don’t have to be popular to the masses. Find your tribe, preach, believe in yourself and you’ll eventually find a niche of followers to exploit.

By doing this, you will position yourself as an expert or even THE expert in your field. People like following and believing in experts.

Love you,

Jordan ‘The Guy with the Bow Tie’ Rycroft

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Why Your Online Store Isn’t Making Sales

This is a common question I see on message boards and through the grapevine of entrepreneurs. It also is a cause for concern in the bricks-and-mortar world, but let’s stick with online.

Anyone, anywhere can have a store. No longer do you need vast sums of money for a lease, employees and stock. You can do everything behind a screen. With that – the amount of online stores hawking goods from dresses (EverRose.com – plug, plug) to backpacks to cheeses is endless. The world is flat in this regard. However, just because it’s relatively easy to set up. It doesn’t mean it’s profitable.

no sale, no sale sign

Here’s why you’re not making any sales

1) Your online store is too cumbersome. You’ve read too many blogs about what you should have on your store, and instead of creating a simple process for those who buy – you’ve confused your would be buyer with link after link after link. Your product(s) should be the first thing people see when they visit your store. You should also have some info on shipping and returns, and a page that reflects who you and your business are (if you want to add a personal touch).

2) Your product photography looks like crap. You can’t sell a shitty looking product online, just as you can’t sell a shitty product. Here are some quick DIY photo tips.

3) No one knows you exist. I hope you’ve read this far as this is probably the most important item on the list. You can’t expect sales without people knowing about you. You need to market yourself. Hook up with bloggers or influencers in your line of work. My wife and I hook up with fashion bloggers to promote our product to their masses. We also buy advertising (funny thought), and it works.

4) If you have traffic to your site, and you’re still not making sales – check the options above. If you’ve done all of the above then you probably didn’t research your product upfront. If you haven’t tested to see if your idea works through family friends, then your idea is probably not going to work to others. Just because you think it would be cool to run an online t-shirt store, it doesn’t mean people are going to buy from you. Ask your friends and family first – see if they would buy. My wife and I’s online dress shop did this, and our first few customers were family and friends. From there the word spreads.

The above should point you on the correct path. I could write an endless post on why you aren’t getting sales, but the points above are the most common reason. You can always ask me to take a look too. I’m always free to give open and honest feedback.

Love you,

Jordan ‘The Guy with the Bow Tie’ Rycroft

Is Customer Service Dead?

You can get your groceries delivered to your door with the click of a button. You can shop hundreds of styles of clothes in less than a minute. You can connect with your friend visiting a town on the other side of the globe in an instant. All of this is possible behind a screen. With that, actual physical interaction with someone is slipping away. With the limited physical touches and conversations going on – has customer service taken a hit? When’s the last time a company went above and beyond for you?

The art of customer service

“Do what you do so well that they will want to see it again and bring their friends.”
– Walt Disney

Funny how one of the most valued commodities – if not the most – nowadays is time. You do whatever you can to save nanoseconds. You’d think businesses would see this and increase employees or response times to potential customers. However, it’s increasingly difficult to find someone with enough knowledge to actually answer the questions you need to be answered – whether it’s in-store or online.

In order to make your business stand out – try doing one step more. If you can answer one question – see if you can elaborate and suggest something more. My dad is amazing at this. He’s an upholsterer and every time he’s on a sales call – he always gets asked about the type / colour of the fabric his potential client should use. He answers the question by giving a few options and then BANG! He mentions pillows, and how a contrasting colour will make everything pop. It’s the classic up-sell, but it’s so much more than that. It’s providing value, suggesting something the potential client didn’t even think about, and increasing his profits at the same time.

Customer service quote

What can you do to add that extra touch?

My wife and I’s online shop – EverRose.com is similar. We try to add personal touches everywhere to ensure our fans know we care about them. After all, without them we wouldn’t be in business. My wife writes personal notes to each and every fan who orders. We also take it one step further than most online clothing stores by measuring each piece of clothing. This gives a comprehensive outline on whether or not it’s going to fit you. It’s all about taking it one-step further. It’s a pain in the ass on our end, but the end result is SALES. Plus, our fans love it. How do we know – they tell us in reviews and in personal emails they send us.

This is what makes your business a brand. It makes the person on the other end (customer) feel something for you, and your product / service.

“Courteous treatment will make a customer a walking ad.”
– James C. Penney, Founder, J.C. Penney

You want to know how to limit your advertising spend? Make your experience so memorable to a customer they’ll have no choice, but to recommend you to their friends and family. If that’s not enough – encourage them to do so by following up with requests for reviews (my wife and I do this for every sale by sending a personalized email to each fan). Word-of-mouth is the best form of advertising, and nothing creates more word-of-mouth than outstanding customer service.

It’s not that hard

With the majority of corporations pulling back on their customer service channels, and personnel it’s very easy to stand out. Even being present and engaging in conversation with your potential customer can put you over the top. At the very least give the customer what you’d expect to receive from a company. Then try and out do yourself. Make a suggestion above and beyond the question asked of you. Personalize everything. Respond as quickly as you can, and as honestly as you can.

A few of these will go along way in your customers mind, and will ensure success down the road.

Love you,

Jordan ‘The Guy with the Bow Tie’ Rycroft

Working 9 – 5 while having a business on the side

It’s an elusive balancing act that takes some time to master. You want / have to give 100% to your 9 to 5 employer, and you want to build something on your own on the side. I’m living proof that it’s very much possible, however it takes a serious amount of commitment. It’s a game of give-and-take. Do you watch Netflix or do you buckle down and do some bookkeeping? These are just a few of the questions you’ll ask yourself.

Here are some tips on how you can find time to build your business on the side while continuing to commit yourself to a 9 to 5:

 1) Build something online

It’s going to be extremely difficult to build something on the side that you have to attend to like a 9 to 5. That’s why e-commerce is so amazing. You can work on your site whenever you want – and the income rolls in 24-hours a day with little to no work on your behalf. Yes, there is a HUGE amount you have to put in before hand, but when it’s built – it’s a recurring income generator. If you don’t have an idea of what you can do on the side – here’s a quick guide to finding a product to sell online.

 2) Evenings and Weekends

This is your bread and butter. When your 9 to 5 stops – you put on your entrepreneur hat. This can be exhausting, so if you’ve had a tough day at your 9 to 5 – you may need to take an evening off. You don’t want your side biz to interfere and hurt your ability to work your day job. However, it can be done. You’ll have to work for it, and maybe miss out on things in your social life, but if you’re devoted to building something, and providing value to your future customers – you’ll succeed.

My wife and I both have 9 to 5 commitments, which we excel at. Then we come home, and get to our online fashion store – Ever Rose. I usually take 30 minutes to an hour in the morning to work through our social media channels – then I put my 9 to 5 hat on. In the evenings, my wife and I will fulfill orders, take product shots, edit photos, and do website maintenance. We also do our own bookkeeping using Wave.

It’s not easy knowing you won’t have a ‘day off’, but I’ve never done something that is so rewarding. Getting glowing customer reviews and having random strangers purchasing items is pretty cool.

Seth Godin, Seth Godin quote

 3) Have a Calendar

This is uber important. You need to keep track of what you’re going to do. The best way to do this is to have your 9 to 5 calendar as well as your side business calendar. I literally put everything into calendars. My wife makes fun of me because I always say, “If it’s not in my calendar, it doesn’t exist.” This helps me use my 9 to 5 brain power for what needs to be done, and helps automate the side biz for when I come home. It’s nearly impossible for me to forget what I need to do when I come home because an alert pops up every 30 minutes.

This also helps you focus on what needs to be done. You will be worn down, you will be tired, but those little alerts will go a long way in helping building your side biz. They’ll keep you on track, and keep your focus on what needs to be done.

4) Don’t worry about perfection

When it comes to your side business – just do it. Don’t worry about it being perfect or you’re never going to sleep. My wife is big on perfection – I’m big on getting things done and off my plate. What you see as perfect, may not be perfect in your customers eyes. Never waste time on being perfect. You never will be. Just get it done to the best of your abilities and move on.

At the same time, if one of your skills isn’t solid – than you may have to outsource. For example – if your English sucks and your trying to write product descriptions – get someone to proof your work. Whether it be a family member or friend – play to your strengths. You can also look at outsourcing work by using UpWork.

Finally, I know the struggle. I live it everyday, but I also know it can be done. You can be a 9 to 5 superstar and crack the whip on yourself everyday to ensure your side business is a success. Even a few hundred bucks on the side can make a HUGE difference. Whether you’re selling a product or service – you can be a 9 to 5er and an entrepreneur.

Love you,

Jordan ‘The Guy with the Bow Tie’ Rycroft

It’s Time To Get Real

Remember the CEO from Seattle who decided everyone at his company was going to get paid $70,000? Well, he won Entrepreneur of the Year in 2014, and received global accolades. The story was just about everywhere. Unfortunately – it hasn’t worked out so well for him, but of course the negative story hasn’t appeared nearly as much as the positive one. To find out more – click here. Don’t get too jaded by all the success stories you see online. You never know how it is, until you’re in it.

This is where reality has to kick in. It’s extremely tough in the business world. Competition is everywhere, and if you’ve been following my blog for awhile you know I like to get real. And this entry is no different.

get real, it's time to get real

Let’s get real

The biggest challenge I’ve seen / heard from startups – aside from cash – is how to get more of it. I’m astounded at how many people think they can build something, and just let it sit there, and hope 1,000,000 people buy from them. That’s not how it works. Even though you might not know it – you probably have hundreds of competitors doing what you’re doing in the online space.

My wife and I’s business – Ever Rose – is no different. Although we’re playing to a smaller market – there’s still competition from all over the world. Having said that – I’ve recently seen / heard from a few businesses, who started up around the same time my wife and I did, about their struggles. These businesses are in the fashion category, they launched around the same time my wife and I’s online shop did, but they’ve only had 1 or 2 sales. Their sites look great, and professional, and they’re on all of the social media channels you can think of. Sounds like a slam dunk – unfortunately you can have a website, have social media accounts, pump your SEO, but no one will know you exist. If people don’t know you exist – you’ll never have sales no matter how fancy your site looks. And money is what all businesses need to survive.

The marketing

Here’s how my wife and I have achieved close to 40 sales in 4-months (it’s not a huge number, but it’s on a path to becoming profitable):

  • market our site using Facebook, Google AdWords and Bing Ads (typically $10 – $20 a day)
  • Post and share a product from our page once a day on Facebook, Twitter, Google+ and Instagram
  • Work with influential bloggers (aka those with lots of activity on their accounts – not just followers, but actual people commenting and interacting) in the fashion sphere. We sometimes give bloggers a clothing item in lieu of a post on their account
  • Pay to be showcased on Instagram accounts (Instagram is HUGE for fashion or any other product in the ‘visual’ realm)
  • Promoted our email list on our website through a contest where we gave away free items (more than doubled the amount of people on our mailing list)
  • Give those on our email list exclusive deals on our products (we typically get one sale per e-blast)

We spend quite a bit of money on marketing, whether it be cash or in the form of clothing to bloggers. And guess what – it works. If you don’t have money set aside to market your product – you’re most likely going to die a quick death. Before you jump in to any business – you should have marketing dollars allocated or at least have a plan of how you’re going to get the word out.

The numbers

Typically – my wife and I spend about 10 – 15% of our sales budget (total revenue) on marketing. Depending on how much our product costs, we understand we’re going to have to dump more money into it, because we need to market it. So, if a dress costs us $20, we add a markup of 2.2 (20 x 2.2), and then ensure we have at least 10% more to spend on marketing. It looks small to begin with, but when you’re spending $20,000 on product and you’re expecting to generate at least $30,000 in revenue (sales budget), then your marketing budget should be at least $3000 (10% of 30,000).

Don’t expect to make a profit right away. You won’t be sipping champagne for awhile – if ever. My wife and I have accumulated some debt due to the purchase of the resale product we carry. However, our assets drastically outweigh our debt, so we’re not too worried. We know if we ever need to get out – we can easily sell off our product, and pay back our debt. I’m not saying its easy, but it helps us rest easier at night. Besides, what’s business without debt?

If you’re burning through cash, not marketing your product, and have limited sales – you should probably stop what you’re doing, and adjust. Either you’re in the wrong line of work or you need some outside help. Don’t be afraid to ask. Feel free to connect with me, and we can discuss, and improve what you’re doing. Or continue to do what you’re doing. Your choice.

Love you,

Jordan ‘The Guy with the Bow Tie’ Rycroft