When preparing for marriage, most of us have heard the phrase, a successful marriage relies on “compromise”.
Compromise, and you’ll have a happy marriage.
It’s all about Give and Take, right?
Well, please allow me to share a little story with you.
Several years ago my wife and I attended a wedding of a relative.
An absolutely beautiful wedding.
It was an outdoor setting.
In the the woods at House Mountain, just outside of Lexington, Virginia.
A gorgeous day at the end of August.
Prior to COVID when we could still socialize freely.
During the ceremony, while taking in the breathtaking views, enjoying the wonderful music, admiring the beautiful bride and handsome groom as well as the entire wedding party, a piece of advice was dropped that I will never forget.
The preacher made a comment that he felt was the answer and key to a successful marriage.
A golden nugget that hit me like a thunder bolt.
He shared, “if you Out-sacrifice Your Mate, you will always have a happy marriage”.
WOWZER! Drop the mic.
That comment blew me away.
I had always thought the key was to compromise.
I do this for you, you do that for me.
This minister completely dispelled that myth by sharing this powerful concept of dedicating ourselves to “Out-Sacrifice Your Mate.”
My wife & I found this as an excellent goal to strive towards to make our marriage thrive.
As a result, committing to trying to Out-sacrifice each other on our way to a successful marriage and happy life.
Out-sacrifice Your Mate
This wonderful piece of advice made me think about how this concept could also apply to business life.
How can we apply the “Out-sacrifice Our Mate” to our business and professional relationships?
I have been blessed with amazing business partners over the years.
Yet, looking back, did I work hard enough to “Out-sacrifice” each of them?
Probably not.
What about employees? Customers? Vendors?
Just think if we enter these relationships with a deep commitment to “out-sacrificing” the other person.
Treating it almost like a competition.
Out-Sacrificing your business partner(s), your employees, co-workers, as well as your customers.
If you could treat your business relationships including your customers and clients with that same unapologetic attitude of “Out-sacrifice Your Mate”, just think of the powerful results.
Sounds like a winning formula on the path to success.
You will attract TONS of Soulmates when word on the street is you are an “out-sacrificer”.
This sets the bar quite high while making it easy for Soulmates (aka ideal customers) to fall head over heels in love with you.
Thank you so much for stopping by to spend a few precious minutes with us.
You’re most likely thinking, “I thought we were discussing business”?
Yes, we sure are.
So what on earth does it mean to discover your “Soulmate”?
Well, there are different names when running this exercise such as your Buyer Persona, Target Market, Avatar or ICP (Ideal Customer Profile).
What is the definition of your Ideal Buyer or Soulmate?
So glad you asked!
First, your Soulmate is a person (not a business, a title or a position).
It is an actual human being who LOVES you, your product, your service, and your solution SO MUCH that they are willing to part with their hard earned money. Just to capture a slice of the magic that you deliver.
Furthermore, your true soulmate is THE PERSON who has a concrete identifiable problem and you possess the passion, expertise and ability to fix that problem. Additionally, that person has a check, credit card, cash or virtual payment burning a hole in their pocket eager to actually pay you.
Call that person what you like.
Moving forward, we are going to refer to your ideal buyer as your Soulmate.
Understanding Your Soulmate
Many business owners fail to fully uncover and truly understand their ideal buyer.
Typically, a culprit with this process consists of focusing on the position but not the person.
Case on point, targeting a department such as Purchasing, HR, Finance, or Engineering leads to focusing on the position or the department only, not the actual person who seeks your solution.
This unfortunately leads to completely missing the point.
Say for example, you are targeting the buyer of a large corporation, your goal is to discover the gatekeeper and decision maker.
Then hopefully close the deal.
However, let’s take a deep dive into the buyers of your product or service.
What does their day actually look like?
If you have ever served in purchasing, or maybe still play that role, what responsibility comes with that position?
Before we take a peek into a buyers daily life, ever go to the grocery store or drug store, then upon arrival at home you discover you bought the wrong item?
Especially when a loved one is at the door to “kindly” remind you of your blunder.
You purchased the wrong brand, the wrong size, the wrong flavor, or the wrong quantity. Even the wrong color bananas. Too ripe or not ripe enough.
You get the point.
We have all been there.
As the buyer, we feel deflated and unappreciated in our attempt to perform a task for others. Just to be informed that we totally struck out.
Now everyone is unhappy.
As the buyer, our feelings are hurt, the person who we purchased the product for is also frustrated.
Well, just think what life is like for someone who is in purchasing for a profession.
Buyers get beat up all day, every day.
A professional in purchasing encounters these comments on a daily basis, “You bought too much. Too little. Paid too much. Bought the wrong size. Too big or too small. Purchased the wrong brand.”
On top of it all, you also bought the wrong kind of toilet paper, again. Oh the humanity!
Buyers have the thankless position of making no one happy while constantly facing sharp criticism.
Then as a salesperson, here we come along trying to sell them our products and services.
When that buyer is simply trying to keep their job as well as make their boss or supervisor pleased.
Additionally, they are potentially facing a great deal of stress at home and tying to make it to their child’s soccer game on time that afternoon.
Define Your Soulmate
So as you define your Soulmate and work on the Buyer Persona, define a true human being.
Give that buyer a name. An identity.
Take a deep dive into their demographics.
A couple quick Soulmate examples:
Debbie, 52, White, married, 2 kids, urban, bachelors degree, active on LinkedIn
Zachary 27, Black, single, rural, engineering degree, enjoys hanging with friends, active on Instagram
This is going to make your life so much easier as well as make your job much more effective.
Therefore, get to know your Soulmate. Deeply and intimately.
Understand their goals, frustrations, challenges, and motivations.
Create a strong bond and emotional connection.
Demonstrate that you understand their challenges on a deep level.
Show your Soulmate that you have their back.
You are ready and raring to go. Eager to guide them on their journey.
https://b2btail.com/wp-content/uploads/2022/02/soulmates-heart-3147976__480-300x200-1.jpg200300Curt Andersonhttps://b2btail.com/wp-content/uploads/2022/06/B2Btail-white-w-transparent-bg-1.pngCurt Anderson2022-02-08 05:46:062022-02-14 08:35:12Discover Your Soulmate: Yes, Those Ideal Buyers Are Waiting for You
John is a truly selfless leader, serving as Director of Marketing for Optessa.
Optessa is an awesome company that provides “optimized planning and scheduling solutions to manufacturers so they can work smarter.”
John is such an amazing guy. His title on LinkedIn is “Professional Dad and Marketer”.
I had the honor of interview John on our weekly LinkedIn Live program where John declared, “Hunt Relationships”.
The Go-giver.
The connecter and problem solver.
However, it doesn’t end there with John.
John continues by dropping more golden nuggets.
In addition to possessing amazing leadership skills, John also serves as a gifted team builder.
When asked the secret to his success with team building and leadership, John’s response, “you don’t earn my trust. You GET my trust.”
How about that for concept?
John continues, “You also don’t have to earn my respect. You GET my respect. Something has to occur for a person to lose it. You don’t have to earn it. I’m going to give it to you right up front.”
WOWZER! Is that a powerful statement or what?
As a relentless networker and incredible family man, John is all about trust, respect, nurturing relationships as well as delivering value.
To learn more about the INCREDIBLE John Buglio, check out this video below:
It’s the Season to Hunt Relationships
Instead of Hunting Sales, “Hunt Relationships” is such as powerful twist.
So, how can you be the hunter and nurturer of relationships?
Let’s think about our own sales process.
In the same vein, how about flipping the script?
How often do you sit around saying…
“Gosh, I wish someone would either cold call, cold email, cold text, or message me on social”.
“Could someone please interrupt my day right now and try to sell me something? Especially a product or service that I have never heard of or that has no relevancy to me.”
With this in mind, lets all do ourselves a favor by taking a page out of John’s playbook to “Hunt Relationships”.
Therefore, when contacting someone for the first time, enter their entrepreneurial journey or their story dedicated to help them move the needle.
Communicate that you have their back. That you fully understand their challenges and frustrations.
Above all, that you have the solution to their problem.
In conclusion, just remember that you are on a quest.
It is “Relationship Season” and you are on the Hunt.
Well done John Buglino. Deeply appreciate you Brother!
https://b2btail.com/wp-content/uploads/2022/03/Hunt-Relationships-.png8071280Curt Andersonhttps://b2btail.com/wp-content/uploads/2022/06/B2Btail-white-w-transparent-bg-1.pngCurt Anderson2022-02-01 05:29:082022-02-06 13:33:52The Key to Business Success? Hunt Relationships
Last week we introduced the concept from Allison DeFord with our post about the “Dreaded We-We Syndrome”.
Let’s dig a little further…
You know who cares about us other than maybe Mom?
Not many.
Possibly a few other friends, family members and hopefully our pets.
How about with your business?
Especially when it comes to our customers.
Sadly, they could care less about where we have been, our past or any previous experiences for that matter.
Including achievements, accomplishments, awards, sales growth, etc…
UNLESS…..
Your past experiences can help them. Right this minute!
You know what your customer’s care about?
Solving their problem.
They want to know, “can you help solve my problem, right now”?!
Otherwise, they are thinking, “please step out of the way and stop bragging about WE, OUR, I and ME. You are preventing me from reaching my goal.”
Use messages to speak their language.
Sing their song.
Communicate that you are deeply committed to solving their problems.
Express how you work relentlessly to help customers reach their goal by delivering AMAZING products and solutions.
You pull complicated and unwanted tasks off of their plate allowing them to focus on you and your business.
In turn, you free up time to help customers reach your goals. ASAP.
More than Just “WE-WE”
In addition to the “We-We” Syndrome, below includes other variants of this disease that might be negatively impacting your message to Soulmates (aka Ideal Buyers):
“I-I”
“Me-Me”
“Our-Our”
In college, nearly 100 years ago, at least if feels like it…on the other hand it feels like yesterday, anyway…a lesson was taught that never left me.
The lesson learned: NEVER use the word “I” for a business letter, cover letter or resume.
Let’s explore an example of the “We-We” (or I-I) Syndrome.
Have you received a cold email that went like this…
Hi There,
I(WE) thought it would be great to put myself & my company on your radar.
I (WE) have won TONS of awards. We are really THAT GOOD.
I (WE) have serviced THOUSANDS of customers. Honestly, it is Shocking that you don’t already buy from us.
I (WE) have the BEST products and services on THE PLANET.
I (WE) enjoyed explosive growth last year. Over 10,000 %!
I (WE) guarantee that you and your customers will LOVE us.
I AM (WE ARE) AWESOME – JUST ASK ME/US!!!
At this point, are you thinking, “Please go away and stop emailing me”?
On the other hand, are you thinking “On no, I have sent plenty of emails like this”?
Let’s repent. Then keep moving upwards and onward.
That was in the past.
Avoid the We-We
Your days of spraying “We-We” everywhere is over! (Spraying?!? Wow, that was gross! I could have used a different word there. Sheesh!)
Anyway, the person or company who suffers from the “We-We” syndrome makes the story all about themselves.
Now, let’s think back to a time you were in public at a in-person networking event.
You meet somebody for the first time and during the entire conversation, all you hear is “WE” and “I”.
Most likely, you were completely turned off.
The next time you see that person you would probably cringe, hide and run away as fast as possible.
As entrepreneurs, this is the same challenge we face with our website and online presence.
Especially when striving to make that great first Webpression.
Using WE, OUR, I, and ME is making the story all about US instead of making it all about THEM.
What do we think about all day, every day? Ourselves!
So when you’re talking to that ideal buyer, your soulmate, what’s going through their mind?
What are they thinking about? Themselves!
So the better that we understand our soulmate’s frustrations, goals, and challenges, the greater odds to build that trust they seek and long for.
Now we can flip the script and get away from that dreaded “We-We” Syndrome.
So let’s make a pact to clean up all the “We-We” on our website as well as on our social media platforms and make it all about them. Our Soulmates.
That’s a powerful winning formula for you and for your business.
Bottomline: Clearly express how you’re going to help them achieve their goals.
That you are dedicated to delivering an incredible product and a winning experience.
You are on a mission to help them reach success.
https://b2btail.com/wp-content/uploads/2022/01/We-we.jpg8881280Curt Andersonhttps://b2btail.com/wp-content/uploads/2022/06/B2Btail-white-w-transparent-bg-1.pngCurt Anderson2022-01-25 06:53:052022-01-31 07:57:14Clean up the “WE-WE” in Aisle 3
However, there is an absolutely awful disease that is causing massive disruption for many small businesses and entrepreneurs.
It’s been racing around the world, almost like a crazy pandemic.
As we dig into the “We-We” Syndrome, this section is dedicated to my bestie, my soul sister, Allison DeFord who uncovered this awful and contagious illness.
Allison DeFord is the Founder, President and Trailblazer of Felt Marketing, a Brand Strategist firm for manufacturers.
Allison is also the co-host of the incredibly entertaining and informative podcast MFG OutLoud – with her awesome co-host Ray Ziganto.
To shed a light on a few of Allison’s Superpowers, she is one of the most brilliant, creative, passionate and most importantly, possibly the funniest human being that I have ever met.
It doesn’t matter rather it is her amazing newsletter, her podcast, a social post or video, Allison is absolutely hysterical.
Warning: While reading anything by Allison, please avoid drinking any liquids at that time.
Otherwise, those liquids will end up on your keyword and ruin your computer. Yes, she is really that funny!
Anyway, let’s get serious (not really).
As an entrepreneur we suffer from many ailments and sicknesses.
Some much worse than others.
Actually, they can even evolve into a dreadful disease.
According to Allison, a perfect example of a horrific sickness that many entrepreneurs suffer from is called the “We-We” Syndrome.
What is the “We-We” Syndrome?
So glad you asked.
Allison explains the “We-We” Syndrome occurs when a business or entrepreneur only focuses on themselves instead of their customers.
An example of the “We-We” Syndrome on small business website might include language that goes like this:
WE deliver on time.
WE have top quality products.
Yes, WE have wonderful expertise.
WE have amazing capabilities.
WE are the BEST. Just Ask Us.
When Allison introduced me to this awful disease, of course I needed to change the wording on my very own website immediately. Yes, my own website was completely full of “We-We”. Quite embarrassing!
Well, please stop reading this post right now to check out your website or social media platform of choice.
Then, count how many times your business website and socials use the word “We”.
Allison DeFord: The Cure for the Dreaded “We-We”Syndrome
Allison takes a deep dive on how to cure yourself from the ghastly “We-We”Syndrome by making it all about your Soulmates (potential customers):
You know, most companies are still trying to market and communicate rationally features and benefits, “look how great our product looks.”
It’s not motivating. And the thing is, they just don’t know that people communicate, you know, with their heart.
Well, people make decisions based on emotions, nearly 90% of the time.
So, features and benefits are not engaging your emotion.
So why continue tapping into only 10% of the decision making brain when you could tap into 90%? You can start by talking about, what’s in it for the customer? Because that’s what they care about.
Most of the time when I tell manufacturers this, they look at me with this blank stare like, “What? Really?” And, you know, then people back the decision up with rational thinking.
So traditionally, I feel like many manufacturers and brands have done this bass ackwards.
Right, and I myself have been guilty of this in the past, where we try to market to somebody rationally with features and benefits and pictures of our fleets of trucks and piles of lumber and you know, our big staff and our big building.
And then we sort of forget about that emotional part.
And effectively, you’re making it harder, harder to choose you and to trust you.
So by making your customer, the hero of your story, you engage 90% of the decision making brain instead of only 10.
Wow! That sounds easier.
Then you make it easier to trust you faster. We all want that right?
Because it’s challenging and people have to trust you before they buy from you.
And then you demonstrate that by choosing you, they will transform in some way, they’re going to become faster, smarter, stronger, cooler, more profitable. And who doesn’t want that?
So, how in the hell do we do this? Well, it doesn’t have to be complicated or difficult.
One, we’re going to invite them into the story to we’re going to describe their hero state, we’re going to guide them with a plan, you’re going to become their Sherpa.
And then we’re going to close the story loop.
It’s think of this like, foreshadowing in a movie. Right?
You get really excited when you know that Luke Skywalker is probably going to walk out of this movie alive at the end, he’s going to conquer the bad guys. You want to close the story loop and show people their success.
So we want to help you create better substance so that when you turn up the volume, people dig what they’re hearing.
What is that overall journey look like for your customers? Because that’s the overall experience.
Always try to answer these 3 questions:
What’s in it for them?
Why should they buy this thing?
Whatever it is, why should they buy it from you?
And if those three questions can be answered in every bit of content that you put out on your website, it will make it so much easier to trust you and to choose you.
Standing ovation Allison!
Check out the entire discussion with the AMAZING Allison DeFord
https://b2btail.com/wp-content/uploads/2021/12/We-We-Syndrome-.jpg7411280Curt Andersonhttps://b2btail.com/wp-content/uploads/2022/06/B2Btail-white-w-transparent-bg-1.pngCurt Anderson2022-01-18 06:34:242022-01-25 15:27:18Allison DeFord: The Cure for Those Suffering from the “We-We Syndrome”
Since 1895, Louis’ Lunch in New Haven, CT has been serving a classic hamburger sandwich to customers from across the United States.
Family owned and operated by the 4th generation Lassen Family, Louis’ Lunch currently serves as one of the oldest, family-run businesses in the country.
Walking into this national treasure is like stepping back into the 19th century.
The restaurant prides itself on staying true to the family history by continuing to preserve the past as well as serving future generations.
Recognized by the Liberty of Congress as the Birthplace of the Hamburger Sandwich, Louis’ Lunch has been featured in The Travel Channel, The Food Network, Zagat, Food and Wine Magazine, among many others.
The establishment is probably about 600 square feet and seats around 15 customers at a time.
Two team members work behind the counter with no computer in sight. One person taking orders while the person cooks amazing burgers.
If you find yourself indecisive and agonize over what to order at a restaurant, then this is the place for you.
At Louis’ Lunch, you have minimal options.
This is due to the fact that Louis’ Lunch is committed to serving a classic hamburger. Made with a proprietary blend of five cuts of meat, ground fresh daily.
Dedicated to providing you an experience of the meat’s true flavor, your hamburger is served on white toast.
In addition, Louis’ Lunch only offers cheese, onion, and tomato as garnishes. That’s it!
Simple, Simple, Simple
The Lassen family holds firm on their desire not to offer any condiments.
The Louis Lunch experience is about the taste and simplicity of a fresh burger grilled to perfection with cheese, onion and tomato as the only acceptable toppings.
In addition, you can order chips or potato salad and a drink to go with it.
Oh yeah, also a slice of pie for dessert.
Simple, simple, simple.
So talk about niching down till it hurts so good.
They could offer bacon, pickles, and plenty of other toppings.
Watching the cooking process at Louis’ Lunch is absolutely fascinating.
Burgers are cooked in the original vertical cast-iron grills dating all the way back to 1898.
I’m sure they could probably make a killer hot dog as well.
They could most likely make all sorts of other things.
But guess what?
They don’t.
They keep the process as simple as possible.
The business stands a couple blocks from Yale University and they know exactly who their customer is who their customer isn’t.
If you don’t like it, they honestly don’t care.
There is a sign on the wall that reads:
This is not BURGER KING
You Don’t Get It Your Way.
You Take It My Way Or You Don’t Get a Damn Thing.
The Lassen family continues to serve the New Haven market fiercely focused on delivering you an amazing culinary experience.
https://b2btail.com/wp-content/uploads/2022/01/Louis-Lunch-2nd-1-1.png7901120Curt Andersonhttps://b2btail.com/wp-content/uploads/2022/06/B2Btail-white-w-transparent-bg-1.pngCurt Anderson2022-01-11 06:28:242022-10-09 23:06:14Birthplace of the Hamburger: Louis’ Lunch – Niching Down Since 1895
As the famous saying goes, the riches are in the niches.
Now if you pronounce niche as NEESH, then we can simply proclaim the “Niches are in the REESHES”.
Sheesh!
Either way, you get the point.
When you laser focus on your core customer and ideal buyer, you create the opportunity to deliver dynamic solutions that no one else can touch.
That’s right, magic happens.
Singing the right song to the right audience creates raving fans.
Side note: don’t you hate it when you go to a concert and your favorite band doesn’t play YOUR Favorite song? You drove hundreds of miles. Paid lots of money. UGH!
Well, doesn’t your ideal customer deserve your top song and smash hit every time?
So what does it truly mean to niche down?
In particular, Niche Down Til it Hurts. Hurts SO Good that is!
For those of us with low pain tolerance, this can be extremely challenging.
On other hand, for those of us with ADHD and suffer from Shiny Object Syndrome, Niche Down Til It Hurts keeps us on track.
“Niche Down til it Hurts actually feels SO GOOD”. Especially when you see the powerful results.
No pain, no gain!
Well, let’s share a little journey together to explore how to niche down to UNLEASH those REESHES waiting for you.
It Hurts Saying “No”…Until It Feels So Good
What do you mean I can’t be everything to everyone?
Everyone likes me and loves my solutions, right?
Well, when jumping into entrepreneurship rather on your first month or 360th month, maintaining a laser focus on your core strengths and ideal customers plays a critical role to your success.
Especially when times are tough. It is extremely tempting to say YES to anyone willing to hand over a payment.
Cash is King, right?
Rejecting cash is extremely painful.
Telling a customer “thank you but no thank you” hurts.
“This is going to hurt me much more than hurting you”, comes to mind.
However, taking on a bad customer that breaks your system hurts MORE than rejecting them.
It also hurts telling an existing customer, one that is simply no longer in your wheelhouse, that you can no longer service them.
The reality? They simply no longer fit your formula.
Niche Down by Just Saying No
For example, a customer consistently paying you 90 days when you have 30 day terms is no longer acceptable. Especially those customers who live a lavish lifestyle and still pay you late all the time (You know exactly who I am referring to).
“Yeah, but they buy lots of product.” Yes, because you became their bank and credit line.
Another example is when you go out of your way to service a customer. WAY out of your way. Literally or figuratively.
Physically delivering products outside of your geographical reach or territory also hurts more than simply stepping away.
“Yeah, but they buy lots of product too.” Yes, but when you account for delivery time, mileage and labor costs, those precious sales failed to cover the additional expenses. Throwing away money every time you make the delivery.
How about when customers keep ordering items not on the menu? (not just at a restaurant, this occurs at any business)
“Our chefs and kitchen staff constantly complain that customers order outside of the menu which bogs down our system. However, we hate to upset the customer and say no.”
“The customer is always right, right?” Not always.
Providing excellent customer service is certainly a healthy strategy and creates a strong competitive advantage.
Yet, consistently stepping outside of your menu to accommodate high maintenance customers bogs down your system.
Plus, those who play by the rules and ordered off the menu suffer due to the time, energy and resources dedicated towards accommodating the nonconformists.
This negatively impacts team morale and most importantly profits.
Where do you draw the line?
Well, either you should consider adjusting the menu by listening intently to what your customers are requesting or stick closely to your profitable system and your current menu of options and services.
Striving to be everything to everyone will lead you to becoming nothing to no one.
Especially when you have rock solid solid systems in place. Stepping outside of your menu will lead you into treacherous waters.
Being busy is not the same as productive and profitable.
A customer who needs it “their way” when you are incapable of properly serving them breaks your system.
Doing so will exhaust your precious time, energy, resources and severely damage profitability.
The sad reality: when owning a business that struggles to earn a profit simply serves as an expensive hobby. Ouch! Now that hurts!
Bottomline is the bottomline:
My father always preached “Chase Profits, Not Sales.”
Staying in your strike zone while exposing your superpowers to the market creates dynamic results.
Therefore, “Niche Down Til it Hurts…So Good” so you can enjoy the Success and “Reeshes” that come with it!
https://b2btail.com/wp-content/uploads/2022/01/Niche-Down-.jpeg480913Curt Andersonhttps://b2btail.com/wp-content/uploads/2022/06/B2Btail-white-w-transparent-bg-1.pngCurt Anderson2022-01-05 06:42:462022-01-06 06:37:40Niche Down Til it Hurts…So Good
1)Your biggest customer gets bought out: Unfortunately new ownership has other plans that do not include you.
2)A new buyer arrives: You find out the hard way that the new buyer has a tight relationship with a competitor.
3) A new management team takes over: They make sweeping changes and do not view your service favorably.
4)Vulnerability reduction: The company finally realized that they represented a vast majority of your total revenues and felt uncomfortably vulnerable with you. Vulnerability certainly works both ways.
5)An aggressive competitor outbid you: On price. Service. Quality. Customer service. Maybe they were simply hungrier than you. It is difficult to admit when we have messed up.
6)A key employee leaves you: And even worse, they take your biggest customer with them. URGH!
7) The business or industry declines: For example, brick and mortar retail, book stores, DVD rentals are a few that come to mind.
8) Your competitor offers more efficient technology: Plenty of disruptors hit the market causing chaos. When in fact they deliver incredible efficiency. Uber, Airbnb, and Zoom come to mind. You resisted change and loved staying below or completely off the radar. Well, unfortunately, you also fell off your customer’s radar as well.
9) Your customer went out of business: – Bankrupt. Gone. They grew complacent. Ignored drastic changes in the market. Think back to Blackberry, Blockbuster, Kodak, Sears and the list goes on.
10) Cheap imports: Low cost labor countries are penetrating your market. Very slowly, then all at once.
For one thing, it is critical maintaining a “Honeymoon” mindset with each and every single customer.
In other words, NEVER TAKE FOR A CUSTOMER FOR GRANTED.
Additionally, focus on building a diverse customer base to reduce the weakness and vulnerability of relying too heavily on one customer.
Stay hungry and aggressive.
Play offense. Simply due to the fact that an offense scores ALOT more touchdowns than the defense.
Embrace new technology.
Keep your staff highly trained as well as motivated.
Above all, prevent a heartbreaking and painful breakup by dedicating yourself to making your customer’s life easier and their business more profitable.
This way they will stay tied and true to you.
Thus, creating a long-term monogamous relationship so you can both live happily ever after.
Wrapping It Up
Thank you for reading this post.
For additional articles to help with your entrepreneurial journey, check out these articles below:
https://b2btail.com/wp-content/uploads/2020/03/broken-1621679.jpg10631599Curt Andersonhttps://b2btail.com/wp-content/uploads/2022/06/B2Btail-white-w-transparent-bg-1.pngCurt Anderson2020-04-03 07:22:382023-12-18 11:46:2510 Reasons Your Biggest Customer Decides to Breakup with You
Dr. Phil built his success with charm as well as a reputation for delivering blunt advice.
He had just started his TV career when the exchange with my accountant took place.
However, you can Google him if you are not familiar with Dr. Phil (click here).
His fame took off with appearances on the Oprah show (if you are asking right now, “who is Oprah?”, then you are way too young – lol).
Anyway, this is where my accountant dropped the bomb on me.
The exchange went something like this:
Accountant: Do you ever watch Dr. Phil?
Me: No. I have heard of Dr. Phil but I have never watched him.
Accountant: “Well, I watch Dr. Phil every day, do you know why?”
Me: “No, why?”
Accountant: “Because he tells people what they need to hear not what they want to hear. I just offered several suggestions to help your business, improve profitability, as well as address these complaints that you just made and you rejected all of them. You know what your problem is, YOU DON’T WANT TO BE SUCCESSFUL!”
Me: Silence, speechless and stunned
Ouch!
My immediate thought was who is she to be speaking to me like that?
Especially since I’m paying her!
I left her office a bit frazzled with my tail between my legs.
Approximately 48 hours later it totally hits me ( I’m very slow & it takes me a while to get a point).
I FINALLY GET IT!!
I can tell you exactly where I was when this “aha” moment hits!
My accountant was 100% correct. Her advice was spot on.
I was sabotaging myself and depriving the business of success.
Rejecting the advice was immature, arrogant and foolish.
From that moment on, I went on a relentless mission to turn things around.
I worked harder than ever.
However, I focused on working smarter AND harder.
Made terribly difficult decisions which included making serious cutbacks.
Several steps included selling only high-profit products, fired unprofitable customers, analyzed every single expense to determine what were needs versus wants.
Unfortunately, I had to let go a number of employees who had been with the company for years.
Layoffs are horribly painful. Tears flowed.
For example, one person that had to be cut included a business partner. We were extremely close friends. His only son is my Godson.
Thankfully, he landed into a new career where he continues to thrive far greater than had he stayed.
However, at the time, that was an awful decision and a difficult transition.
My wife and I went through our budget to determine the absolute minimum we needed to get by.
I reduced my pay by 75%.
However, it’s funny how a career or business is not life or death.
If a business closes, life still goes on.
The sun will rise the next day.
We still need to eat, breathe, sleep, and function as normal.
Yet, after you have poured your heart and soul into a business, this living organization filled with relationships, memories, laughter, and tears, being forced to shed staff was terribly difficult.
Eighteen months later from the famous Dr. Phil’s speech, almost to the day, a previous employee calls.
The employee who worked at my company for ten years previous to the awful layoff.
The one that came to work one day announcing she thought she might be pregnant. So another employee immediately goes out a buys a pregnancy test kit. Sure enough, we found out together, she was pregnant (Her son was 7 by the time I faced layoffs).
The same employee who attended every Christmas party where we laughed so hard that we could barely breathe with tears running down our cheeks.
The same one who leaned on me when she went through a very difficult divorce.
Unfortunately, I simply could not afford to keep her on staff anymore.
So she found another job.
Well, since I laid off nearly 50% of my staff, I had been working non-stop for months.
Seven days a week trying to pay off all debts and vendors so if I did close the business I would have a clean slate and owe nothing.
It was critical to walk away with the peace of mind that not a single company or creditor was owed a penny.
However, months after the layoffs, I desperately needed help. I could no longer continue working at this pace.
The business was picking up steam.
However, the thought of hiring someone new was not appealing at all.
Especially since I had let go of a number of outstanding people just a few months prior.
Well, this previous employee called to explain that she absolutely hated her new job.
She actually called to ask if there was any way she could come back and work.
It was the Fourth of July weekend.
We were going to be insanely busy right after the holiday.
Within a matter of months, the company had not only paid all of the debt and vendors, the bank account actually possessed a few dollars to the good.
I felt perfectly fine hiring this employee back.
More importantly, I could afford it.
As I hung up the phone, I looked at the list of goals thumbtacked on the wall in front of my desk.
Facing me since the famous “Dr. Phil” speech from my accountant.
While taking a look at each item on the list, at that very moment it dawned on me, we made it.
We had accomplished each goal on the list.
I had been so consumed in working tirelessly to turn the business around, driving towards those goals, that it had not hit me that we were even getting close.
Yet, we made it.
We turned the corner.
It took a tremendous team effort along with powerful advice from Dr. Phil.
https://b2btail.com/wp-content/uploads/2020/03/sign-success-failure-1055756-e1585747023477.jpg10201576Curt Andersonhttps://b2btail.com/wp-content/uploads/2022/06/B2Btail-white-w-transparent-bg-1.pngCurt Anderson2020-04-01 07:14:272021-11-14 16:24:28Best Advice Ever from Dr. Phil: “You DON’T Want to be Successful!”
I am terribly humiliated to even share this article.
As the story goes, 100 years ago (well not quite that long ago but it sure feels like it), I used to describe managing my business with the following description: I was a “fireman and a babysitter.”
Actually, it was the 1990’s and I was in my early 20’s.
My description of entrepreneurship? “Every day I was putting out fires and babysitting my employees”.
Yes, I actually said that. URGH!
Well, guess what? I was hugely successful. At what?
Putting out all of the fires that I was creating for myself every day as well as micromanaging an amazing group of people.
I am horrified at my immaturity and arrogance that I even expressed those words, “fireman and babysitting”.
It is a true embarrassment that my management style was based on putting our fires and babysitting.
Declaring myself a fireman is completely insulting and offensive to all firefighting professionals who are more courageous than I could begin to imagine.
My interpretation:
Fireman = I have no idea what I am doing, am completely overwhelmed, cannot think past today to begin to plot out a future strategy. Let alone figure out how we are going to resolve the current firestorm in our midst.
For example:
Cover payroll on Thursday (and it is Tuesday night)? Who knows?
Dealing with customers past due by 90 days?
Handle an angry customer who just received the wrong product and needs it corrected NOW?
Handle employee issues that most likely lacked necessary training or probably should not have been hired to begin with?
Sweating the small stuff prevented facing bigger challenges.
Especially when I was busy putting out fires that I typically created on my own.
Calling myself a babysitter not only insults the employees that I had the privilege of working with but also insults the millions of incredibly skilled babysitters around the country. They are also much more courageous than I could ever be.
Babysitter =I am completely insecure with myself combined with an unjustified arrogance that I need to micromanage every move of my employees.
Yet, so focused on being a HELICOPTER BOSS that I fail to allow these amazing individuals to do their jobs properly and let them do what they do best (also what they were hired to do). Combined with the fact that I was doing my own job horribly as well.
“Babysitting my employees.”
If you find yourself saying these words, it may be time to take a look in the mirror and reevaluate your approach.
When I finally realized how immature and unprofessional my thoughts and behavior were it was finally time to get down to business.
No boss, parent, teacher, coach or instructor is perfect.
Even the most winningest coach (Ex: Bill Belichick or Nick Saban) has plenty of critics. Including their own players.
Just lose one game and find out quickly that not everyone will love you, admire you or even respect you.
As a coach or boss, every move you make is scrutinized.
You will always be called too much of something.
Some will think you are too nice, too mean, too lenient, too calm, or too frantic. Not enough passion. Too passionate.
The goal is to build a healthy balance.
Maintaining a strong sense of urgency while never showing panic. Minimizing or even eliminating chaos.
Seems like the same could be said when people use the expression “herding cats”.
If a person describes managing people like herding cats, doesn’t it simply mean that this particular person has serious challenges with leadership or people skills?
Do you ever hear successful coaches describe leading their players as “herding cats”?
Well, I am ashamed and it was truly pathetic that I lead thinking these individuals needed “babysitting”.
No wonder I constantly struggled to make ends meet.
Helping employees to succeed and thrive should have been my primary focus.
Additionally, I should have dedicated myself to creating a cause that they could proudly stand behind.
There is a fantastic book called “As a Man Thinketh” by James Allen.
The line in the book goes, “As a man thinketh, so shall he be.”
Well as I declared myself a “fireman and babysitter,” so shall I was.
Very impressive, right? Absolutely not!
As I called myself a “fireman” and “babysitter”, that is exactly what I became.
I am sure you have some choice words to describe my poor business acumen and lack of leadership skills.
So the crises are going to happen. It is not a matter of if they will happen, just when and what magnitude.
Therefore, since the fires ARE going to happen, every day, how you handle them is the key to success.
It doesn’t matter if you run a sole proprietorship or a multimillion-dollar company.
It is all relative. If you prepare and become proactive, great things occur.
Welcome the mindset that these are not fires.
Each event is not a crisis but simply opportunities to grow. Learn. Expand your business.
Furthermore, the chance to separate you from the competition when challenges occur.
Gratitude
As a boss or leader, consume yourself in gratitude.
Give thanks for this amazing opportunity. For your entrepreneurial venture as well as the privilege to lead others.
Embrace challenges as blessings to learn and grow.
A mentor of mine used to share this fantastic quote: “The person who wins a marathon may not be the fastest runner but the person who can endure the most pain.
Your business is a marathon, not a sprint.
So, how do you endure the pain of the race?
Can you prevent fires?
Strategically position the proper smoke alarms and fire extinguishers so when the smoke starts, you eagerly and tactically put out the burning flames as quickly as possible.
How do you put out a fire? Preparation, teamwork, a calm reserve, and a steady hand.
So, what is a better description of entrepreneurship as opposed to declaring myself a “fireman” and “babysitter”?
Instead of a fireman, what if I declared entrepreneurship as a gift to create an organization that provides incredible products and services? Furthermore, offering powerful solutions that improve our customer’s ability to compete.
What if I stated that instead of putting out fires we work on strategies that anticipate the challenges our customers face on a daily basis to make THEIR lives less stressful?
Instead of a babysitter, what if I declared my experience of entrepreneurship as being blessed to work with amazing and talented individuals? Where we strived to challenge each other to be the best.
Another thought: “As a team, we dedicate ourselves to building a sustainable business model that offers an entrepreneurial and competitive spirit.”
In spite of my “fireman and babysitter” mentality, our company experienced wonderful growth and success thanks to being blessed with an incredibly talented team.
As the business owner, you are the boss by default.
The person who cuts the checks typically makes the rules.
Oversees the hiring (and firing) as well as make difficult decisions.
You provide employees with money, however, they grace you with their time.
Money and jobs can be replaced. Time cannot.
My humble suggestion: dedicate yourself to the success of each individual who decides to join your team.
Inspire. Build their confidence. Make them feel on top of the world. Unstoppable.
Explore, discuss and fully understand their goals, their dreams, aligning yourselves on the path to achieving great heights.
Trust me, magic happens.
Wrapping It Up
Thanks for reading this post.
For additional posts, check out these links below:
https://b2btail.com/wp-content/uploads/2020/03/mistake-1966448__480.jpg480750Curt Andersonhttps://b2btail.com/wp-content/uploads/2022/06/B2Btail-white-w-transparent-bg-1.pngCurt Anderson2020-03-14 05:38:002021-11-14 16:15:49My Most Embarrassing Post: Playing “Fireman and Babysitter”
We hear about entrepreneurs, entrepreneurship, as well as having an entrepreneurial spirit.
Actually, how do you define entrepreneurship?
The godfather of Entrepreneurship Studies at the Harvard Business School, Professor Howard Stevenson says, “entrepreneurship is the pursuit of opportunity beyond resources controlled.”
Entrepreneurship certainly takes a special breed.
Additionally, a successful entrepreneur carries a hardcore, can-do attitude.
In other words, they possess Entrepreneurtude.
Above all, they “Do Whatever It Takes”.
Let’s dig deeper.
WHAT IS ENTREPRENEURTUDE?
First of all, Entrepreneurtude can be defined as:
“An individual who seizes opportunities with relentless persistence and an uncompromising willingness to do whatever it takes to succeed.” ~ me (Curt Anderson)
Hence, an individual with Entreprenuertude must possess the following characteristics:
Shameless Optimism
An Entrepreneurial Spirit
Relentless
Opportunistic
Persistent
Unwavering Passion
Fierce Belief in Oneself
Unstoppable Confidence
Swagger
Moxie
Difference Maker
Disruptor
Pioneering
Innovative
Laser Focused
Dreamer
GameChanger
Profit Producer
Unable to work for someone else (are horrible employees)
In contrast, characteristics of the anti-entrepreneurial spirit, otherwise known as those who do NOT possess Entrepreneurtude:
Lazy
Uninterested
Probably Grinding the 9-5
Celebrates TGIF
Passive
Lethargic
Lackadaisical
Weary
Most likely Comatose
Just doing their time while going through the motions
Slacker
Sloth
Counting the days until retirement
Dread Monday’s
Chronically complain about their boss as well as co-workers
Certainly Negative
Pessimistic
Inflexible
Narrow-minded
Fearful
Scattered
Lacking focus
Stuck in a rut
HAVE LOST THEIR THRILL OF HOPE
ENTREPRENEURTUDE = OPTIMISM = DREAMERS
Consequently, the Entrepreneurtude mantra goes as follows:
Pursue your goals relentlessly
Seek opportunity with tenacity
Surround yourself with dream supporters
ENTREPRENEURS ARE ULTIMATELY the most OPTIMISTIC people you will ever meet
Optimism is another fantastic trait for those with Entrepeneurtude.
For example, the wonderful thing about surrounding yourself with early-stage entrepreneurs is you will never meet a more optimistic group of people.
I am yet to meet an entrepreneur starting out with the intention to fail.
They are truly glass half-full as well as shameless optimists.
Due to the fact that they are out to conquer the world.
Additionally, many entrepreneurs may be viewed as overconfident. Probably even delusional.
However, all in all, entrepreneurs are dreamers.
Determined to make massive positive change as well as disrupt their market.
Place a stake in their community. Hire employees. Create a legacy as well as change history.
Furthermore, some simply want to build a better life for themselves.
While others flat out have no desire to work for others and need to do their own thing.
Optimism also bleeds within seasoned entrepreneurs.
Giving everything they’ve got. Everyday.
Even those that have been beaten down over the years or possibly decades.
Rode the entrepreneurial roller coaster of enjoying the highs as well as surviving the lows.
For example, not knowing how you were going to cover payroll on Thursday, and it’s Tuesday night, helps define the struggles of entrepreneurship.
Another slew of challenges and struggles include: Losing a key employee or your largest customer, taxes, health care, regulations, cash flow, vendor delays, tariffs, fierce global competition, and the list goes on……
Almost makes you want to get a job. No way!
Entrepreneurtude prevails yet once again! Just Do Whatever It Takes.
Entrepreneurship = Swimming in the Ocean
However, ever feel like you have entrepreneurship all figured out?
It certainly seems like owning a business is similar to swimming in the ocean.
Just when you think you have the waves figured out, a large wave comes along to plant you in the sand.
The ocean finds it necessary to remind the swimmer who’s the boss.
Knocking you down a few notches and also leaving you gasping for air.
Likewise, entrepreneurship works the same way.
Complacency kills. Quickly.
Especially since the market will remind you that there is no rest for the weary.
Take your eye off the ball for one second and you almost surely make a fast fool of yourself.
It’s imperative to stay hungry while also maintaining a healthy does of Entrepreneurtude at all times (Just Do Whatever It Takes).
Do You Pick Entrepreneurtude or Does Entrepreneurtude Pick You?
Finally, do you pick Entrepreneurtude or does Entrepreneurtude pick you?
Hence, are you born with an entrepreneurial attitude or is it learned along the way?
It certainly seems like entrepreneurs simply cannot help themselves.
In particular, most entrepreneurs simply are unable to work for anyone else.
Corporate life? No thanks.
Especially when working for a boss that restrains and rejects your ideas, innovations, and goals. I think not!
Above all, Entrepreneurtude is like caging the starving beast. Just ain’t going to happen.
The bottom line, the Definition of Entrepreneurtude: “Do Whatever It Takes”
Wrapping It Up
Thanks for reading this post. I certainly appreciate you stopping by.
Lastly, for additional articles, please click below:
Hopefully, you are a much better multitasker than I am.
Diversification does not agree with me at all.
Case in hand, walking and chewing gum at the same time is a huge challenge for me:
Well, I have a funny story to share with you on my disastrous plan of being “DIVERSIFIED” where being told how “Horrible” I was turned into brilliant advice.
It goes back over 20 years ago to the year 2000 (time sure flies when you’re having fun).
Entrepreneurtude
First, what does it take to be an entrepreneur?
You need a trait that I refer to as “ENTREPRENEURTUDE.”
As an entrepreneur, you need a determined and relentless attitude.
Tenacity! Thus, ENTREPRENEURTUDE.
Unstoppable confidence, right?
Unfortunately, that confidence can sometimes lead to trouble.
Well, I am a recovering delusional entrepreneur (probably not fully recovered).
“I’m DIVERSIFIED” = Train Wreck
As an entrepreneur in 2000, truth be told, I was an absolute train wreck.
I was decent at growing sales……unprofitably though.
My running joke looking back, no one sold a dollar for $.97 better than me (do the math on that one).
Unless you sold your dollar for $.96, no one was going to beat me at $.97.
Impressive, right?
I found out the hard way that there is no guarantee of scaling your way to profitability.
However, I had a DIVERSIFIED business.
I had developed 5 separate sections of the business.
In 2000, I owned a wholesale business (with 2 separate product lines), that was trying to become an eCommerce business while trying to get into manufacturing as well as also attempting to become a drop shipper. Say that five times fast.
My logic was to reduce vulnerability.
Create a diversified business where if one area went down, the others would hold up the business.
In reality, I created a scattered mess.
Sales were climbing quickly but losses were mounting.
This seems completely obvious writing this in 2019.
However, declaring this in 2000 was a huge risk.
The dotcom bubble was bursting and eCommerce companies were failing fast.
The business was floundering by pursuing areas where we had no competitive advantage.
I was exhausting time and energy by spreading company resources too thin.
Give It Everything You’ve Got
She once again looked at me and said, “Drop each area immediately that are draining your resources where you just explained that you have no competitive advantage.”
She then dropped another bomb, “Since you feel the future is in eCommerce, GIVE IT EVERYTHING YOU’VE GOT!”
Placing a laser focus on a specific area became essential.
Unfortunately, many business owners foolishly pursue weaknesses. I certainly did.
Additionally, I lacked the resources, expertise, knowledge or finances to overcome those weaknesses.
Trying to be everything to everyone leads to being nothing to no one and I was guilty as charged!
Jack of all trades, master of none.
A common reason for a restaurant failing is the menu simply being too large. Too diversified.
Creativity is a blessing and a curse for many entrepreneurs.
Narrowing a focus when a ton of revenue ideas and possibilities dangle in front of you is tough. Extremely tough.
What road do you pick?
The challenge is narrowing the selection and picking the profitable path.
https://b2btail.com/wp-content/uploads/2019/11/Dieverisfied-directory-1274229__480.jpg480720Curt Andersonhttps://b2btail.com/wp-content/uploads/2022/06/B2Btail-white-w-transparent-bg-1.pngCurt Anderson2019-11-29 06:30:142023-04-08 18:53:26“I’M DIVERSIFIED!” No, Actually You’re Doing Five Things Horribly
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