By Mike Michalowicz More Clients ore Clients 5
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1 Reimagine Your Business
On the day I launched my first book, “The Toilet Paper Entrepreneur,” no one bought it — not even my own mother. Feeling defeated, I had two choices: Learn how to market effectively or abandon my dream. I knew it was a good book. I knew it could help other entrepreneurs succeed. This led me to an epiphany that has resonated with me every day for my entire career: I have a responsibility to market. The lack of good, effective marketing is the reason for small-business mediocrity and stunted growth. It cannot be overstated enough: You have a responsibility to market effectively. It’s that simple. You became a business owner because you saw the impact you could have on the world with your offering, and you thought it could serve better than the rest. With the numerous responsibilities that come with business ownership, your main focus should land on marketing your offering in a way that makes you shine among your competition so you can serve your community of customers. It’s natural for fear and adversity to arise when running a business. It’s a strange time, to say the least. The idea of getting back to “normal” is obscure for some. Others may realize that “normal” wasn’t that great. Added to that, many of us are wondering what’s going to happen next in the current economy, which leads to trepidation when developing business strategies. The one strategy that is paramount to the survival of your business is in marketing. There will always be a reason (I like to call these excuses) not to market. You may think now isn’t the time. Perhaps you’re revamping your product. Maybe you’re an introvert. Maybe a health crisis, politics, or social justice issues are creating a sensitive time in the world (in which case, yes, time your messaging accordingly). Whatever the reason, you must find a way to get over the fear of failure and market your offering so it cuts through the static and gets noticed. Your business and your livelihood, and those of your family and employees, depend on it.
Is it pivoting right for you? We know the pandemic changed the way many small businesses survive. We never heard the word “pivot” so much since Ross tried to get a couch up the stairs with Chandler and Rachel on “Friends.” When COVID-19 resulted in global shutdowns, small-business owners, especially those with storefronts, were left with two options: Wait it out and hope for better days, or create better days. If you want to create better days (because I know you’re not going to just sit there, right?), you need to reimagine your business. You’ll have to reassess your offers, how you market, what your customer base is, and what those customers need from you now. As business owners, we need to recognize that sometimes, no amount of mar- keting is enough. Your business should always be evolving because the rest of the world is. But is pivoting your offering right for you? Chapter 10 of “Get Different” provides you with a blueprint to reimag - ine your business for emergencies and for plain old revamps. Don’t worry, you won’t have to start from scratch. Here are a few simple steps to start: Look at what you already have in place, know your customer profile that you’re offering to, and know if your product truly solves the problem or serves the needs your prospective customers have. Jacob Limmer of Cottonwood Coffee found that pivoting his business was the only thing that was going to save it. When the shutdown occurred, people weren’t exactly running out to their local coffee shops. Most storefront owners were forced to temporar - ily close, which left them wondering, “What do we do now? And for how long? Is this the end of my business?” What did people need in that moment of a global health crisis that Jacob could provide? He decided to send a survey out to his mailing list. The survey said Cottonwood knew it must serve their customers in a new way and asked what would be the most beneficial thing Cotton - wood could do for them. The resounding answer was “Immunity.” The Immune Booster Cold Brew was born. Infused with high quality D3, customers could still enjoy their coffee ritual while getting the added benefit of a healthy supplement. Online sales of the brew soared, and customers saw that Cottonwood cared enough about them to create something new that they needed. As for Limmer, he says, “I feel more in control of my business than I ever have before. I know now that I don’t have to sacrifice my life for my business ever again. I can adapt to whatever happens and whatever I will need by reimagining it.” Isn’t that what we all want? 2 Differentiate And Get Uncomfortable Because Very Little Is Created Via Comfort Zones Let’s cut to the chase. Do not rely on word of mouth for marketing. That’s just lazy. By doing that, you are forgoing your marketing methods
Mike mi-KAL-o-wits is the author of “Profit First,” “Clockwork,” “Surge,” “The Pumpkin Plan,” and his newest release “Fix This Next.” By his 35th birthday, Mike had founded and sold two companies — one to private equity and
another to a Fortune 500. Today he is running his third multi-million dollar venture, Profit First Professionals. Mike is a former small-business columnist for The Wall Street Journal and the former business makeover specialist on MSNBC. Over the years, Mike has traveled the globe speaking with thousands of entrepreneurs and is here today to share the best of what he has learned.
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