Press releases are the most frequently overlooked marketing tactic available to the small business owner.  Press releases are easy to write, free to distribute and get picked up by Google faster than the average blog.  They carry a certain amount of legitimacy because they are written to inform rather than persuade.  They are the perfect vehicle for announcing something special about your business; an acquisition or partnership, a new process that improves clients satisfaction or an upcoming event that ties into some other seasonal or holiday celebration. 

Much has been distributed about the format and structure of a well written press release, so I will leave that to the PR experts.  The rest of this article is devoted to using press releases as part of your marketing strategy.  Here are some things you should think about: 

What innovation do you want to use a press release for? 

Press releases are for newsworthy events that inform people about compelling enhancements that you now offer.  Think about something that your current clients just rave about.  Whatever you want people to know about that would get them to contact you quickly is what you use a press release for.  The key is to promote a real benefit, not a feature.  A benefit is something that provides value to the customer.  An innovation is something that changes how consumers do things.  An example of this is wireless communications.  If you now have a website that makes booking restaurant reservations online easier, that’s news! 

How do you distribute your press release? 

There are several very good, free, sites that distribute press releases.  A few that I use are www.PRLog.com, www.PRWeb.com, www.PRurgent.com, or www.Free-Press-Release.com.  Each of these sites provides articles on how to write press releases and offers templates to construct your release.  Find your business category and read a few releases to get the flavor of what’s out there.  Remember, not everyone is good at this, so be critical of what you read.  If you find one you like, copy the URL and paste it into Google’s search box to see how fast it got picked up.  This is a real eye-opener! 

What’s the best time to submit a press release? 

The best time to publish a release is during a period when something in the general news on a similar subject is getting airtime.  Articles that highlight issues with large businesses can be very useful.  If you own a computer business and you plan to expand your repair service, you might have used the recent closure of bigger computer stores like CompUSA or Circuit City to promote services that these big guys no longer provide.  Conversely, try not to launch your release during a major national or world event.  The news wires will flock to the major news events and your submission may get missed. 

What’s the best way to write content for a press release? 

Remember, a press release is a news item.  It needs to be objective.  It should inform and relate to newsworthy subjects.  You are writing this for news people, not your customers.  Releases that are filled with sales speak will get rejected.  Try to find an objective or unbiased authority to quote, that supports the focus of your release.  A good way to do this is to check local and national newspapers for relevant articles or any number of online article feed sources. Two sites that offer great business article content are www.smallbusinessdelivered.com and www.smallbusinessbrief.com. 

How much contact information should go in a press release? 

Once you’ve educated the public on your innovation or major news event, make sure you give them as many ways to contact you.  Main office numbers, websites, emails and social links are all appropriate.  If your release is written well and you attach your news to a timely market-wide event, you will get calls.  The second release I wrote on my ‘Ask Steve’ Q&A service got 364 hits to my website! 

How frequently should you submit press releases? 

Unlike blogs which get posted daily, a press release is for special announcements.    If you only publish once a year or when you opened your business, you are not getting the benefit of this mass publication tool.  Most businesses don’t use them enough but be careful not to use them top frequently.  Unless your business changes monthly, you will run out of meaningful, newsworthy topics to submit.  

A general rule of thumb is to consider press releases once a quarter.  This frequency will keep the news sources from looking at you with less importance.  One press release every 2-3 months is aggressive but doable. Too many press releases will dilute your credibility.  You can, of course, use these releases in others ways!  You can mail hard copies to your existing clients; you can post them on your own website on a ‘news page’, and you can put them in the main body of your upcoming newsletter.  Don’t forget, you can also fax your press release to local papers.  Unless there’s tons of AP content coming through, you’ll probably get picked up. 

Focus on quality and repurposing rather than quantity. 

Don’t expect press release sites to do your work- Proof, Proof, Proof! 

Don’t submit anything until you proof your work.  Many free PR sites offer templates you can fill in.  Some have spell check and others don’t.  I recommend writing it in Word and doing the spell and grammar checking before you paste it into the site template.  You might event consider writing your release and putting it aside for a day.  Go back and read it the next day to see if it still sounds good before you publish it.  If you reference another published news article to support your release, make sure you give credit to the source.  If another news source has to check your work, they will probably pass on your article..

Don’t let a major development in your business go unnoticed!  Write a press release today.  You’ll be glad you did!

Special Offer

If you need help applying this or any other growth strategy to your business, I offer a free coaching session so you can learn what to focus on and where to begin building a better business.  Click on http://www.growthsourcecoaching.com/Business-Growth-Discovery-Session.html and request this complementary session.  You’ll be glad you did!

Originally posted 2011-10-17 11:43:17. Republished by Blog Post Promoter

As business owners, we tend to do allot!  During the start-up phase it’s called ‘boot strapping’ and it is essential if resources are tight.  Once established, the need to do it all stems from the feeling that no one else can do it as well.  Likewise, a general lack of planning and discipline can have you holding the ‘task bag’ more often than you’d like.  Suffice it to say, most business owners would think twice about having their owner companies if they realized how difficult it can be to get the important things done. 

Business is a continuum.  Time waits for no one and you are either moving forward or you are losing ground.  In either case, a lack of focus can inhibit one and accelerate the other.  It’s not a matter of having more time to get everything done; it’s a matter of doing the right things at the right time.  If focus has been a battle for you, here are six of the most common reasons why business owners can’t stay focused and what to do so you can get the kind of results you want.  

1.                   Lack of a Clear Vision: 

Neurologically, focus is a contest between your conscious and your subconscious minds. The conscious mind is in charge of communications, logic and decision making. It controls about 6% of your total brain activity.  The subconscious, on the other hand, controls all of your bodily functions, your feelings, emotions, thoughts, behaviors and habits which make up the remaining 94% of your brain.  Everything you have experienced in your life is stored in your subconscious just waiting to be recalled as a recognizable experience shows up. 

For this reason, having a clear, complete vision of what you want your business to be is essential to keeping your mind focused on activities that lead to that end result.  If you do not have a vision statement with all the relevant specifics (time frames, revenue levels, profits, brand, identity, facility and staff needs and size of client base, etc) you are allowing your focus to be swayed by a multitude of distractions and false opportunities.  Once you write out your vision, create a bulleted list in large letters and display it everywhere you work.  Seeing it on regular basis will train your subconscious to start looking for things that will support good focus habits. 

2.                  ‘Screaming Baby’ Syndrome- A Constant State of Overwhelm: 

Overwhelm stems from 2 things; not knowing what to do and having too many things demanding your attention.  It’s one of the most arresting feelings I know of and if left unchecked, it can paralyze you from making any decisions or taking any action at all! 

Having a clear vision will at least give you a sense of direction but until you become confident in what you need to do and eliminate the ‘screaming babes’ from your daily routine, not a lot is likely to improve.  Start by recognizing that you can’t do it all.  Multitasking has its benefits but in business it’s generally unproductive in the end. 

Get help from someone outside your business who can help you objectively determine which tasks are priorities and which ones can wait.  Consider hiring people for the most important areas requiring special knowledge or skills.  Look for people in your surroundings that might be willing to barter services if finances are tight.  You can also visit your local college to see what intern programs are available.  You might have to pay something for their time but most college students are more interested in getting meaningful experience.  Once you have identified the sources of your overwhelm and engages people/ services to handle them, you will notice a tremendous change in your level of focus. 

3.                The Debilitating Effects of Environmental Clutter: 

Most of what we react to are things we see or hear.  A work environment that is unorganized or loaded with clutter can be an ongoing reminder that things are out of control.  Stop telling yourself, ‘I know where everything is’.  The moment you see something that you tossed aside a week ago, the tendency to deal with it happens quickly, pulling you off task and in many cases, dropping the work you intended to finish. 

The only cure for clutter and disorganization is to strip the environment (your office, your car, etc) of everything and start fresh.  The reason this is needed is so your mind understands that the old ways have come to an end.  Start by forming 3 piles; things that most be urgent, items that can be addressed in 30 days and everything else.  Then toss the ‘everything else’ pile.  Fact is, if it ends up being important, it will come back to you but for now eliminating as much volume as possible is critical to organizing the rest.  If you don’t think you can do this, bring someone in whom specializing in organization.  Believe me; the cost will be worth it.  In the end, eliminating the clutter and organizing the rest will help you stay focused on the important plans and projects. 

4.                   The Lure of Shiny Objects:  

Ever notice how you can get charged up over a new idea?  One minute you are hard at work, the next you have a brain storm that is so appealing you immediately abandon your work and begin a new direction.  I call this ‘the lure of shiny objects’ and it’s a huge problem for many entrepreneurs.  It’s caused by engaging in mindless activities which allows your brain to drift.  At this point, you become susceptible to other influences which manifest thoughts in your subconscious.  Without warning, out pops a latent great idea.  Now you immediately shift gears and start working on your new idea leaving your prior endeavor for another day.  Trouble is this new idea will probably be replaced several times during the week with other great ideas.  Bottom line- nothing ever advances past the initial thought stage.  

Now, the shiny object interruptions don’t seem to happen when the task in front of you is meaningful and vital to the growth of your company (new revenue, new client service, next phase of marketing plan, etc).  The shiny objects usually appear when we’re doing rote, menial tasks that put our minds on autopilot.  I have colleagues for which this phenomenon is so powerful, they literally go through withdrawals trying to fight the lure and stay on task. 

Use this technique to wean yourself off the endless merry-go-round of chasing shiny objects.  Jot down the idea.  Put the note in a folder marked ‘Great Ideas’.  Place the folder in a draw and go back to the task that is directly connected to your vision and growth plan. 

5.                   Making the Mistake of not Delegating:  

Delegation is a skill that can be learned.  Effective delegating is an art that requires practice and involves foresight, communications, planning and a defined level of expected results.  If you have employees in your business, ask yourself two questions before taking on a task that is not supporting primary goals:  1). Who can I get to do this? and 2). If no one knows how to do this, who can I train to do this?   

The more routine tasks and responsibilities you can delegate, the more your focus will stay on things that get you to your goals.  If manpower is an issue, look for outsourcing options.  There will be an initial cost involved but the benefits of staying above the minutia and connected to your growth objectives will more than pay for the it. 

Business owners are a proud bunch by nature and we like to think no one can do it better than us!  The daily mantra usually is- by the time I explain it to someone else I could do it myself.  Break this habit.  There is no better feeling than having things get done by others while you attend to the important stuff. 

6.                   No Awareness of Boundaries: 

I suffered from this early on and it caused more problems than just focus!  Maintaining a healthy level of focus requires being uninterrupted at certain times.  It also means knowing when to put work down and focus on family, relationships, hobbies, charity work, whatever re-energizes you. 

If your employees know that during certain times, you are not to be disturbed, they will learn to operate and make decisions without coming to you all the time.  Likewise, your customer’s will accept a reasonable amount of time to receive return calls from you.  Planning to tackle an important task and then having your time repeatedly interrupted by questions and phone calls will grind your focus down to a tiny nub. 

Set boundaries that are reasonable for your business and stay consistent with them and you will love what you get done with the uninterrupted time. 

Being focused enough to grow your business at the pace you want and move in the direction that reaches your ultimate vision is the best way to use two of your most valuable resources- your time and your sanity!

More Business Growth Resources:

If you would like more information on various topics having to do with small business growth strategies, tune in to Steve’s weekly Radio Show on BlogTalk Radio- ‘The Small Biz Growth Show’.  Each Tuesday at 11:00am (PST) and Thursday at 1:00pm (PST), Steve and his co-host, Cash Miller, discuss specific business building topics that small business owners can take action on.  http://www.blogtalkradio.com/the-small-biz-growth-show  

If you need help to figure out where your best sources of growth are, sign up for my free business growth guidebook and learn where to look and what to do to improve your revenue, clients and overall health of your business.  http://www.growthsourcecoaching.com/business-growth-strategy-guidebook.html 

Originally posted 2011-09-08 18:03:07. Republished by Blog Post Promoter

There is allot of planning that needs to take place in business; much that should be done proactively but all too often is done in response to issues that arise.  Regardless, without any type of planning, most basic operations would be difficult to manage and the overall cost of running the business would undoubtedly go up.

This is NOT Revenue Planning

So when it comes to finding new sources of revenue to support your business, how much planning do you do to insure your efforts and resources produce results?  Here’s a scenario that I find frequently from the businesses I come in contact with. 

One day, the owner of the business begins to realize that sales have fallen off and monthly expensive are becoming difficult to meet.  The sales declines are the result of fewer clients walking in the door, fewer visits from repeat customers and the realization that competitors are discounting feverously to capture what business seems to be left.  The owner begins to panic as the thought of this trend draining his/her cash and putting them in a position of reducing staff, store hours, inventory and services begins to set in.

So, the owner does what others around them do; discount products and services, buy more newspaper or mailer ads and up the budget for Google Adwords in order to generate new sales that will, hopefully, close the cash flow gap.  Sadly, this ‘hurried’ approach usually serves to aggravate the problem while robbing the owner of resources that could be put to better use.

Revenue Planning Insures Longevity

Good consistent revenue flow that generates healthy profits and allows the owner to run the business with confidence does not happen on the spur of the moment.  It’s less like turning on a faucet and more like planning a garden.   The most overlooked area of planning is ‘revenue planning’ and if done properly, it can insure a steady stream of good clients that continue to come to you over other ‘cheaper’ alternatives.

Revenue planning starts with the realization that ‘enough’ is never a good growth strategy.  The best businesses in every industry go through volume ebbs and flows.  The important thing to remember is, don’t stop planning for new revenue because you never know when existing clients groups will disappear for a variety of reasons.  Have a bold revenue target established for each month and be able to determine where it will come from.

Revenue Planning Allows You to Focus on Your Best Source of Growth

The secret to revenue planning is knowing where your sales are coming from and continually mining these sources.  I’m not talking about sales you picked up from participating in a seasonal flyer as this is only the vehicle that delivered your offer.  I’m talking about the people who decided to come to you vs. other options they may have.  Look at your sales for the last 6 months and figure out the sources of your revenue, i.e. client types, other businesses, particular uses for your service, etc.  Each specific channel will have a percentage of your overall sales and a different level of profit contribution.  These are the areas to continue cultivating more revenue.

Most of the businesses I have worked with were able to identify between 3-5 specific channels of revenue that they generated sales from but had not fully realized that they existed.  Let’s look at the dentist who routinely advertised for free cleanings as a low risk method of getting people to try him.  After going through a revenue channel analysis, he discovered that his best revenue returns came from people suffering from bite problems, headaches and little league teams needing mouth guards.  Interestingly enough, he had never advertised or marketed these services before.  Each of these areas of dentistry is considered a niche market and they all have potential if the right message is delivered consistently to the right people. 

Revenue Planning Connects You with Customers Who Want Your Specialty

Once you understand where your best sources of revenue come from, the next step is to figure out why your customers chose you over other available  options.  Before you attempt to answer this, understand that every customer has options including the option of doing nothing about the problem.  So figuring out why they chose you is essential to understanding how to communicate your specific value to other customers looking for the same service.  Here’s a hint- it’s not how nice you are or how hard you work.  Customers are only interested in getting the results they want.  If they value your service, they will take an interest in you.

Each revenue channel requires a specific method of marketing to reach the intended customer in that channel.  Let’s say you have a flooring business and you specialize in replacing old, worn out laminate flooring.  You should probably have a website to highlight your specialty and the available replacement options you provide.  You’ll also want to have a ton of well written testimonials that demonstrate your value and encourage people to contact you.  If you specialize in a certain home value level, you will also want to have a robust referral program to offer customers who really loved your work.  And, if you promote value heavily, have an offer for a year’s free floor cleaning or treatment that’s included.  Notice I didn’t mention running more newspaper ads!

Make Revenue Planning a Regular Part of Running Your Business

Think of revenue planning like you would think about planning a vacation road trip.  You identify the destination, the route you will travel, the time you would be on the road and the things you will do along the way.  Your revenue can be planned the same way with your specific channel revenue target as the end destination, your customer profile as the route you will take and the specific marketing program as the means of getting your message there.  As for the time limit; there is no limit!  Revenue planning and marketing should always be part of the business you run.  It’s the best, most consistent way to keep your revenue growing. 

Revenue planning is best done when you don’t need it!  Trying to ramp up a solid plan while you’re on the verge of disaster is poor planning at its core.  While things are at a manageable level, start the process now.  You’ll be glad you did when the market gets soft and your competition is giving away the farm to stay afloat.

More Business Growth Resources:

If you would like more information on various topics having to do with small business growth strategies, tune in to Steve’s weekly Radio Show on BlogTalk Radio- ‘The Small Biz Growth Show’.  Each Tuesday at 11:00am (PST) and Thursday at 1:00pm (PST), Steve and his co-host, Cash Miller, discuss specific business building topics that small business owners can take action on.  http://www.blogtalkradio.com/the-small-biz-growth-show

If you need help to figure out where your best sources of growth are, sign up for my free business growth guidebook and learn where to look and what to do to improve your revenue, clients and overall health of your business.  http://www.growthsourcecoaching.com/business-growth-strategy-guidebook.html

Originally posted 2011-08-29 10:53:26. Republished by Blog Post Promoter