Take a look at this month's edition of Success Secrets!
VOL. 4 · SEPTEMBER 2020
SUCCESS SECRETS
BRANDONCWHITE.COM · 320 CENTRAL AVENUE, HALF MOON BAY, CA 94019 · 415-429-1229
YES, THE ECONOMY SUCKS. NOWWHAT? 5 Steps to Surviving and Thriving in Difficult Times
As I write this, our country is taking an economic beating. The coronavirus pandemic has triggered what could be the biggest downturn since the Great Depression. Still, from a business standpoint, I’m not looking at this as the worst thing that’s ever happened. I lived through the dot-com crash of ’01 and the housing market plummet of ’08 as an entrepreneur, and I know I’ll get through this. Along the way, I’ll show you how to batten down your company’s hatches, too. Back in 2001 when the dot-com bubble burst, I was running Worldwide Angler with my business partner, Eric. We had a beautiful magazine, a thriving online platform, and had raised more $1 million in investor capital. But the crash still hit us hard. Tech funding and pretty much everything else dried up, and ultimately we had to shut down the company. It never really died, though — I ended up buying Eric out and bringing the magazine back stronger than ever as Tidal Fish. Eventually, I sold it for seven figures. So, what did I learn from that ’01 experience? Well, I realized that there are five main steps to survival when things get rough. 1. Hunker down. When it comes to weathering an economic storm, my philosophy is simple: The last man standing wins. In 2001, a lot of Worldwide Angler’s competitors outmatched us in funding 10 to 1, or even 20 to 1. But in the end, we came out on the other side in a new form, and many of them didn’t. Instead of hunkering down, putting a pause on things, and riding out the crisis,
they panicked. When the cream rose to the top in the end, we were it.
2. Know your financials inside and out. I can’t stress this enough: You have to absolutely, unequivocally understand your financials if you’re going to make it through hard times. There’s no room for error when cash flow is tight. Yes, figuring it all out is a pain, but that’s why I always recommend hiring a CFO or controller, even if your company is small. 3. Learn to run a lean machine. This is the toughest step because it means you might have to let people go. Even I’ve had to make those hard calls during this pandemic. It isn’t easy, but it has to be done. Ask yourself, “What do I absolutely need to run this business?” and let the rest go, particularly recurring costs. 4. Ask yourself, ‘How can I serve my customers right now?’ Take it from a guy who has been getting way too many “How We’re Coping With COVID” emails: Your customers don’t want to know how you’re coping with this pandemic. They want to know how you can help them cope. During the dot-com crash, we kept Worldwide Angler alive catering to our customers. They had less money, so we showed them cheaper and more efficient ways to fish! Look for those equivalents in your business, and you’ll have loyal customers. 5. Get ready to adapt. You might not come out of this recession as the same business you were before, but that’s okay! Let go of your preconceptions and be flexible. When you’re the last man standing, you can reinvent yourself in order to profit.
“WHEN IT COMES TO WEATHERING AN ECONOMIC STORM, MY PHILOSOPHY IS SIMPLE: THE LAST MAN STANDING WINS.” —BRANDON C. WHITE, FOUNDER
Those five steps got me through ’01, and I turned to them again in ’08. Now, I’m pulling out the same playbook to survive and thrive in 2020. This crisis feels different, though, and I think that’s all about public perception. In 2001, when I launched Tidal Fish, I was swimming way upcurrent with no end in sight. People weren’t even sure the internet would work! But now, the whole world is focused on finding a COVID-19 vaccine, and people are optimistic about getting back to business. So, here’s my best advice: Put those five steps in motion and focus on the positive. Figure out how your company can deliver value, and remind your customers that they’re the heroes of your story. Turn this crisis into an opportunity. In the end, your business will not only survive but also thrive when the economy gets back on track.
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HOW BRANDON’S ADVICE TOOK LUXURY LANDSCAPE TO THE NEXT LEVEL Our Latest Student Success Story
In this newsletter, you’ve already read about how I've helped a magician, a tech entrepreneur, and a clothing designer grow their businesses. At this point you might be wondering, is there
Think about the traits of a leader. You may be thinking of someone who can take charge, isn’t afraid to fail, communicates clearly, has a passion for helping people, and is extroverted. Optimize Your Sales Team BY ENHANCING THEIR LEADERSHIP QUALITIES
any kind of company Brandon hasn’t worked with? The answer is more or less “no.” Today’s student success story is a perfect example of how my advice can work for every entrepreneur. I met Jackie and Ken, the co-owners of Luxury Landscape, when they were in the early stages of launching their company. They had combined Ken’s 40-plus years in landscaping with Jackie’s management background to offer beautiful, unique landscape designs to residential and commercial properties in Nebraska. It was a great concept, and their orders were rolling in! The trouble was that as business boomed, they were forced to grow quickly — which caused some staffing, stocking, and marketing hiccups. I knew right away what they needed to do.
Now, think of a successful salesperson. Do you see any overlap in characteristics? The answer is likely yes.
Salespeople are natural leaders. They lead consumers to the best product or service, and they effectively push our economy and businesses forward. However, having multiple leaders on one team can create friction. As an entrepreneur or sales manager, you must create a work environment that nurtures your leaders in the sales department without causing issues. Those with an innate sense of leadership still need the right training and work environment to optimize their skills and excel. When you provide these, the confidence of your team increases, their ability to sell effectively is boosted, and your sales numbers improve. It’s a win-win-win for you, your team, and the company.
“Brandon shared his successes with us in such a relaxed manner, as well as the importance of taking time to care for yourself when you grow a business,” Jackie says. “This was something we both needed to hear since we were burning the candle at both ends. It was nice to have assurance that it’s okay to take a break.”
You can create a plan for cultivating leadership with these two steps.
In addition to encouraging her to slow down, I taught Jackie the ins and outs of social media (SM) marketing, something she hadn’t realized she was struggling with. “Brandon offered online SM marketing training/coaching, and it fit in my schedule, so I decided to jump on,” Jackie says. “The info he shared blew me out of the water! Boy, was I wrong with what I thought I knew! He taught me so much and when I put his practices to work, my SM platforms started to grow rapidly, with lots of interactions from followers who became customers!” Since making those changes, Jackie and Ken have seen their business become more sustainable. They plan to prioritize becoming their city’s best landscaping company rather than its biggest , and I’m excited to help them do it. “Whenever I have a business question, I always ask Brandon first!” Jackie says. “He responds immediately, which helps us busy business owners move forward correctly with our companies.”
Analyze Traits Leaders do have defined traits, but no two leaders are alike. Pinpointing the qualities that make each team member an effective leader — and therefore great at their job — can help you identify sales teams or partners that will function harmoniously. (Coincidentally, this process will also show you who should not work together.) The best pairs feed off one another. Maybe you have one salesperson who is the best at explaining the technical aspects of your product, while another is the most empathetic and emotional seller. Together, they’re a winning combination. Provide Leadership Training Learning is an essential part of sales. Salespeople have to understand the demographic, cater to trends, and be the first to admit when a sales tactic is wrong. In addition to learning skills specific to their position, salespeople should also undergo leadership training. Many of these courses and teachings target managers who have employees, but when you encourage your team to apply these concepts to potential clients, they will learn what leadership skills they must nurture within themselves to get more sales. You can also take managerial leadership training and convert it into a program that targets your sales team.
To learn more about Luxury Landscape, visit LuxuryLandscape-LLC.com.
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WHYWORD-OF-MOUTH COULD BE YOUR WINNING STRATEGY Your Dark Horse in the Marketing Race
Well, in the 1990s, WOMM was a difficult horse to back in the marketing race. It happened almost invisibly. People talked, referrals were made, and the only way a business owner could trace their success back to WOMM was by asking their clients where they’d come from. Without hard data, the strategy was tough to justify — and then social media arrived. Facebook, Twitter, and Instagram are basically WOMM made traceable. Suddenly, scientific studies started pinning down the ephemeral strategy’s success with facts. In 2008, a University of Maryland study dove deep into a comparison between WOMM and traditional marketing and finally revealed just how well WOMM works. For the study, researchers created a social networking site and started advertising it, both through member WOMM and traditional means like marketing events
and media appearances. They tracked outbound WOMM by the number of electronic invitations sent out by existing members of the site. At the end of the study, they discovered that not only did WOMM generate more members, but it also continued generating members for a longer period (three weeks versus 3–7 days), and its acquisitions were drastically more elastic, meaning they generated more return per dollar spent. In the long run, the study found WOMM had an incredible 20 times more elasticity than marketing events and 30 times more elasticity than media appearances! At this point, pursuing WOMM is just common sense, but many businesses leave it on the table because they haven’t changed their game (or checked in on the science) since the 1990s. If you embrace this newly proven strategy, it could be your dark horse in the marketing race.
In his 1999 marketing book, Ivan Misner called word-of-mouth “the world’s most effective, yet least understood marketing strategy.” More than 20 years later, word-of- mouth marketing (WOMM) is finally getting its day in the sun. Most businesses realize how incredibly valuable it is to generate conversation around their brands. Yet, many are still pouring their money into traditional marketing over WOMM. Why?
MINTY CARROT TOP PESTO Pesto may sound like a fancy ingredient on restaurant menus, but you can make it at home in minutes! This vegan recipe is a great way to use spare carrots tops, and it tastes delicious as a pasta sauce (thinned with water) or a cracker spread.
"WHEN YOU DANCE WITH YOUR CUSTOMER, LET THEM LEAD."
Inspired by YupItsVegan.com
INGREDIENTS
–Unknown
• 1 large bunch carrot tops • 1 clove garlic, chopped
• 2 tbsp red wine vinegar • Salt and pepper to taste • 3 tbsp olive oil
• 1/4 cup fresh mint • 4 chives, chopped
DIRECTIONS
1. To blanch the carrot tops, bring a pot of salted water to a boil. Meanwhile, prepare a large bowl of ice water. Remove the stems from the carrot tops and add the greens to the water. Boil for 3 minutes, then drain the water and dunk the tops in ice water. When they’re cool, wring out the extra liquid. 2. Use a food processor to blend the carrot tops and all other ingredients except olive oil. Add 1 tbsp of olive oil at a time to the food processor and blend until the pesto is smooth. Taste and serve!
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BRANDONCWHITE.COM 2020 320 CENTRAL AVENUE HALF MOON BAY, CA 94019 415-429-1229 SEPT
PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
SUCCESS SECRETS
INSIDE THIS ISSUE
Yes, the Economy Sucks. Now What?
PAGE 1
2 Steps to Cultivate Leadership in Your Sales Team How Brandon’s Advice Took a Landscaping Business to the Next Level
PAGE 2
Your Dark Horse in the Marketing Race Minty Carrot Top Pesto
PAGE 3
PAGE 4
Is Stress Making You Forgetful?
Have you heard? I have a podcast! Check out the latest episodes of "Build a Business Success Secrets" on Apple Podcasts, Google Play, TuneIn, Spotify, or Stitcher, and subscribe for new content every week.
HOWTO COPE WITH DAILY TRIGGERS Is Stress Harming Your Memory?
Stress can cause more than just a bad mood and low energy. Over time, mental exhaustion from stress can lead to forgetfulness and reduced cognition. This can hamper your ability to do your job and enjoy life. Though stress is unavoidable, there are steps you can take to mitigate some of the negative effects of mental exhaustion, including forgetfulness. First, consider the source of your stress. These days, a common stressor is social media that we’re consuming more than ever during these crazy COVID times. If your feeds are full of bad news and negativity, shut them down! Many researchers suggest that spending less time on the internet leads to better health. Several studies have found that constant internet use, including time spent on social media, is negatively impacting our memories. Research from Harvard, Oxford, King’s College London, and
Western Sydney University all confirm this: Too much internet use is a bad thing.
Of course, it can be easier to delete a social media app than it is to eliminate other types of stressors. Coping with a stressful coworker, for example, can be difficult. You have to figure out why they’re causing you stress and how the situation can be remedied. Dealing with a work-related confrontation can be hard, but having that difficult conversation and resolving the problem can ultimately lead to less long- term stress and improve your mental health. Another thing you can do to reduce stress is avoid multitasking. Research shows less than 1% of the population can do it. Odds are most of can’t do it. Taking on multiple projects or doing too much in too little time can leave you feeling overworked. Plus, studies have found that multitasking is
not effective. You cannot deliver the same results when your attention is scattered as you can when you are focused on one thing. To make matters worse, multitasking takes a major toll on memory and cognition, according to a study from Proceedings of the National Academy of Sciences. If stress is impairing your memory, judgment, or cognition, take the above steps to reduce it. If you find your memory and cognition aren’t improving, consider speaking with a mental health professional to discuss your best next steps. Mental health and stress management are important, and the more we do to improve these areas of our lives, the healthier and happier we will be :-)
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