LinkedIn… Is It Worth It?

Five years ago LinkedIn was “all the rage” when it came to B2B marketing. Books were composed, experts performed symposiums, and LinkedIn really pushed its professional upgrade service. But now what? Is LinkedIn dying? Yes and No. Like any social media tool, it really depends on how you use it and who is in your professional range of contacts.

B2B marketing has to be about give and take. You can’t just ask for referrals without returning the favor. If you’re not into referral fees or gifts, then you should be providing the same amount of B2B referral favors. This is where the majority of people fail. If you’re not helping others get ahead, you’re not going to have others return the favor to you. LinkedIn isn’t a magic resource for referral business and many people don’t understand this. They setup a LinkedIn account and then sit back waiting for the business to come to them.

You have to work for business. Period. Use LinkedIn to ask others to refer to you and let them know what you’re willing to do for those referrals. If you’re willing to pay a referral fee or barter services, say this. If you’re willing to share a networking list or a PR resource, note this. Don’t just send out blind emails to people you don’t truly know- who are in your “inner LinkedIn circle” because they will not be read or immediately are deleted. Work your contacts and develop real relationships with people- this is what works.

LinkedIn isn’t a bad thing to have. It can be very helpful for B2B marketing if you are genuine and actually offer something of service.

Until tomorrow,

Twyla N. Garrett

The secret to productivity!

I was introduced to an amazing tool that helps me increase productivity and get to know my clients better. In fact, it has boosted my productivity and my profits. What is it? A recording device.

Yes, in the day of the app, I am relying on a basic digital recorder to move my business forward. I highly recommend this tactic to anyone and everyone- employee or business owner a like. You see, as a business owner I have to deal with many people, many problems, and many prospects daily.

Using a recorder allows me to record conversation highlights to review at a later date or time. When I am done pitching a client, I record my key thoughts about the client’s project and personal items he or she may have said to me right after the conversation and while it is fresh in my mind. Then when myself or my team is working on the proposal we can easily recall key information to include into the proposal. Even something as simply as a client mentioning they like Chiptole is useful. I will often record preferences noted by the client during a meeting so I can send a tailored ‘Thank You’ gift at a later date or as a follow up push.

So, simply taking a few minutes to recall important events into a record can truly help your productivity and your profit margin. Until next time, Twyla N. Garrett

Help A Failure! (Failure Fridays)

I have an upcoming book on failure. I am writing it now. Failure is both a part of life and business. We all have failures and most of us want to avoid talking about them or revisiting them. But what if you are on the other side of the coin? What if you see someone failing? Do you stand by and let him or her learn the lesson on their own? Or do you step in?

If you do decide to step in then there are a few ways you can help someone who is failing. First decide if you are concerned about the actual failure or improving the other person’s skillset. If the answer is skillset then keep reading. You want to address the skillset problem from a positive place and offer step-by-step guidance on how the failed task should have been executed.

You also want to make sure you’re not encouraging a skillset that is above that the person is capable of. If someone asked me to explain in detail how a rocket ship is launched, I couldn’t. I could give you the basics. If you needed someone to give a presentation to teenagers, I would fail. You could give me a milestones but that doesn’t mean the presentation will be a success. In this case, I would be set up for failure.

Again, failing is a part of life and an opportunity to grow. Some failures, however, can be prevented as we all have talent and skillset limits. This about this during the weekend and decide how to, and if you will, approach someone whom you see is struggling right now.

Until Monday,

Twyla Garrett

Save Time ; Outsource

Time is worth its weight in gold. The problem is many business owners run short on it daily. Don't do a bunch of things with partial attention to detail. Instead, do one thing and do it well. You want to live by this rule. I suggest hiring virtual personal assistants to take care of anything and everything for you. It will free up your time, make you pay more attention to detail, and you will be less stressed out.

Now, you can hire cheap or you can hire American. Many website are dedicated to providing virtual assistants as low as $3 dollars per hour but you're not getting American help. Other websites will provide you will American virtual assistants but the pay starts around $8 to $20 dollars an hour. Do what will work for you and within your budget. Note: If your company banks itself on hiring American- stay consistent with this belief.

The rule in business is you will close 20% of pitches. If you free up more time, you can bump this number to 30%!

Try to spend this weekend thinking about this and the benefits it can bring.

Until Monday,

Twyla

The Best Business Habit to Have!

I recently met a woman who wouldn't tell me how she failed in business. She insisted everything was perfect. I insisted she was wrong and did a little digging. My results? The woman had failed in business several times- which is to be expected, not something to be ashamed of.

I couldn't figure our why she tried to hide her business failures. Everyone in business has failed at one time or another. In fact, business leaders don't even refer to these events as failures anymore, rather they are called learning experiences. The best business habit someone can have is to flaunt a failure, not try to hide it. Here's why;

There are two types of people in this world. The kind who accept failure as a signal to give up and the kind who will not accept failure as their destiny. Giving up distinguishes wanna-be business men and women from true go-getters. Flaunting your failures and showing how you rebooted and had the umph to go at it again really is a character attribute. Hiding your failures, or lying about them (as in the woman's case) also tells a lot about who you are. So, which side of the fence would you want to be on?

I'm going to develop a series of books dedicated to this topic. In the meantime, connect with me on Twitter and let's discuss your failures and how you overcame them!

Twyla

3 Ways You're Failing Customers

It happens. We get busy with how to run the business, growing a business, developing our brand, etc. that we forget why we are in business- our customers. I'm listing three ways to tell if you've lost sigh of your customers' needs. If so, ask yourself what you can do to correct the situation at hand.

1. You half-ass tasks. Sorry to be so blunt, but it is true. If you perform at your highest level upon first signing a client, but months or years later you could care less if the product/service is amazing or of quality then you've lost focused and are denying your customer what he or she is entitled to.

2. You believe the customer is always right. Um, no. The customer may think he or she is always right, but they're not. You wouldn't sell a standard kitchen oven to someone who wanted to open a bakery would you? No, of course not. If you see a client making a mistake and you don't step in- you're failing that customer.

3. You avoid the evil client. If you ditch a client because he or she is too demanding than you might not be up for the challenge of expansion. Try your best to handle evil clients and resolve inner-conflicts before giving this type of customer the boot.

Dealing with customers isn't always easy. You are not going to have easy clients in life. There will be difficult clients and situations. Remember these three tips and make sure the problem isn't you.

Twyla

Tough Economy Vs. Your Business

I can’t tell you the number of times I hear or read “touch economy” in a single day. Yes, the economy isn’t what it use to be. But, that’s not an excuse to fold your cards and call it a day when it comes to your business- or starting a business.

There are some things you can do to offset how the economy is impacting your business. You don’t have to thrive during a recession, but you do have survive. I know there are some circumstances that don’t warrant keeping a business alive. I’ve been there. But you have to give yourself a fighting chance. Here’s how:

Starting with re-researching your competitors. Don’t rely on old data. Your competition is feeling the impact of a touch economy just like you. This is why it pays, literally, to check out the competition weekly and see what perks they are offering and what price adjustments have been made. After doing this you can make an educated decision on how to adjust your own pricing and business efforts.

The next thing you want to do is review your budget. Small changes can mean big savings. If you have a water service delivery to the office three times a month, cut back. Ask for twice a month delivery service. If you are using premium pens because they write better- switch. Go to the dollar store and buy pens and pencils in bulk. You will save money. Review your budget and see where cutbacks and substitutions can be made.

Last on my list is sending hand-written Thank You notes to your existing clients. It seems like a small thing to do, but it is the right thing to do. Your customers can get your products or services anywhere. Don’t believe me? Google your industry. They are your clients because they like you and your work. Let them know they are appreciated and you want to keep them as clients.

There is never going to be a perfect set of circumstances in business. You will be able to survive, and then thrive, by adjusting your plans according to client need and the economic culture.

Twyla Garrett

Looking to Spend Money? Try Investing in the Food Industry.

Ok, I know it sounds crazy. In the past, investing in the food industry sounded crazy. Banks, investors, family members- they all would discourage it. The rate use to be for every 10 restaurants started only 1 would still be standing a year later. That 1 restaurant standing also had a 60% chance of closing before making it to its second anniversary. Well, things have changed and the food industry is booming!

If you're looking to invest in a business then I would suggest you highly consider thinking about a bar or restaurant. You should, as always, check with your legal and business adviser before taking any action- but considering this industry is worth the extensive look.

In 2012, "Venture capitalists poured $350 million into food tech companies last year, an increase of 7.6 percent over 2011, according to research firm CB Insights. Not only that, but the number of deals increased by 37 percent, including robust activity in international markets," according to Steve Tobak of Inc.com. People are demanding more types of healthy, on-the-go foods. As a society we are working longer hours, traditional groceries are starting to cost the same as eating out every night, and there are more and more food allergies and food-lifestyle choices to cater to. Gourmet restaurants and healthy to-go joints are blooming and succeeding more than ever.

Whole Foods, Trader Joe's, and dozens of other markets specializing in natural and organic foods, there are thousands of farmer's markets popping up in cities big and small across the nation. People are demanding better food and yet they have less and less time to dine-in. This is an advantage for anyone who is seeking to open a restaurant. To-go orders are easy, they require less staff and less start-up money. So, when someone asks me where I think their next investment should be, I say in the food industry! Five years ago I would have went through a long list of cons before listing the long-term, yet still rewarding pros. Now, not so much. And, I have been in the food industry as a business owner. I know how hard it is and how quickly money can be lost. I closed a restaurant. But, believe me when I say, things are changing. Do you due diligence and seek out viable options for restaurant investments.

Until next time,
Twyla Garrett