Brian Tracy recently suggested that I try out his new Business Growth Strategies program, and who am I to say no to one of the greatest minds in small business success and personal development? Brian Tracy has consulted for more than 1,000 companies and addressed more than 4,000,000 people in 4,000 talks and seminars around the globe. He’s the top-selling author of over 45 books that have been translated into dozens of languages and has written and produced more than 300 audio and video learning programs, including the worldwide, best-selling Psychology of Achievement. So, you know, he’s major. And you simply have to know that Brian is the best at what he does.
Obviously, if someone like Brian Tracy personally recommends that you try something out, well, even if it’s his product, I just think you do it. So I immediately took the $1 trial and gave it a whirl.
*BTW, in the interests of full disclosure, please note that I do not have any sort of affiliate relationship with Brian Tracy. Period.
Business Growth Strategies: What is it?
Brian Tracy’s Business Growth Strategies is a seriously high-powered system of videos and written instructions to take you from where you are now to where you want to go with your business.
You start with a Business Profitability Assessment that examines 30 areas of your business. It’s comprehensive, but don’t be afraid- the whole assessment only takes about 10 minutes. That said, beware: this assessment shines a fairly harsh light on your business. I thought I had a pretty good setup with my business, but darned if I didn’t discover pretty quickly that there were at least 12 major areas where I could stand improvement.
What’s pretty cool, though, is that throughout the process, Brian is there, walking you through via video, and he’s just such a nice man and so encouraging that it helps soften the blow when you realize how much help you need (even if, for some bizarre reason I have yet to understand, the videos do tend to remind me a little bit of those Darma Initiative videos from Lost, which also strangely makes the whole thing even more pleasant…if you figure that one out, let me know).
Once you’ve gotten through the assessment, you learn all the areas where you need help and you can start getting into the actual meat of the content.
What you’ll learn:
Business Growth Strategies provides tangible help with just about any aspect of small business growth that you can think of. You learn a lot of theory about business growth, from setting up the right systems, making sure you’re properly capitalized, business planning, sales, marketing, time management, effectiveness, advertising….there’s almost nothing that isn’t covered. Business Growth Strategies is more comprehensive than you can possibly imagine. There are 52 lessons with more than 250 videos recorded by Brian Tracy himself, and every lesson comes with written materials, exercises, and action steps.
Pedagogically speaking…
From a teaching standpoint, the combination of mediums is really smart. You need to watch the videos to get the most out of everything, and probably it’s better if you watch them all more than one time, but you can download and (if you’re so inclined) print out the written instructions to make a pretty awesome workbook with exercises and action steps, so you know exactly what you’re supposed to do.
Although you can skip around the program and focus on whatever topic you want, they’ve set it up so that you get a lesson plan based on your Business Profitability Assessment. That’s pretty wise, because without that lesson plan, the massive amount of material available can get a little overwhelming and daunting.
If you go into this and want to be successful, I’d probably recommend that you plan to stay in the program for six months to a year. That way you can do one lesson a week and really maximize your learning and have plenty of time to take action and implement the recommended strategies.
Who does Business Growth Strategies rock for?
Business Growth Strategies is awesome if you’re just starting a business. You’ll start out the right way and with Brian as your de facto coach, you’ll have a clear plan and strategies in place to smooth out the often bumpy startup road.
It’s also great if you’ve been in business for awhile, especially if you’ve flat-lined. Your business will get a sound tune-up, you’ll find out exactly what you’ve been missing, and you’ll be back on an upward swing.
And, Business Growth Strategies would work especially well for people in a brick-and-mortar businesses who are looking to grow their businesses in traditional ways.
What do I wish Business Growth Strategies included?
Business Growth Strategies is soundly grounded in old-school business principles. You’d expect nothing else from Brian Tracy. So there’s no doubt in my mind that the content is top-notch and of the highest quality.
Still, as much value as the program brings, I’m left wishing that Business Growth Strategies had a small injection of “new school” business principles that factored in newer technologies like internet marketing and social media networking, which is an interesting thing to say since the entire program is internet-based.
That said, business is business, and too many folks in business today think it’s okay to bypass class business principles and as much as we entrepreneurs just love to fast-track stuff, in the end, that just doesn’t work as well. So as much as I’d like to infuse the program with just a wee bit of new school stuff, it’s probably okay that it doesn’t include much of it, because there’s plenty of that out here already.
Overall thoughts…
Do I recommend Business Growth Strategies? Yep. It pretty much rocks the house. It’s solid content, through and through. I didn’t feel sold on other stuff, and really, once you’re in, you’ll just spend time in the program learning. And learning. And learning. Brian Tracy just continues to prove over and over that he’s still got it, and he shows no sign of slowing down.
There’s one question I’m asked over and over again from people who seek out my help: “Why isn’t this small business thing working?” It almost always comes as a desperate plea, a cry for help from someone who’s been trying to make things work for a long time, from someone who’s tried everything they can think of to grow their small business and just hasn’t seen results.
So what’s the answer? Why isn’t your small business working the way you want it to? Obviously, the answers are different for everyone. Each business has its own things that need troubleshooting. But here are the things I see that are the most common reasons why small businesses haven’t yet achieved success:
1. Lack of clarity of purpose and lack of clear branding. This isn’t just about having a clever name. Branding encompasses creating a clear mission for your company and getting clear about what you offer. If you offer too much or you’re too general or broad, your prospects won’t have a good sense of what you bring to the table or know if you can help them. You have to speak to them in their language, and you do that by a) making sure you make it clear what you do and who you do it for, b) reaching them with a corporate identity that resonates with them, and c) making sure you give them what they want with impeccable service.
2. Lack of a professional presence. It’s okay to start out with a homemade web site or free Vistaprint business cards, but if you’ve been in business for awhile, it’s time to upgrade. Your web site should serve three purposes: 1) showing your potential customers and clients how you can serve their needs, 2) giving them an opportunity to interact with you (either via contacting you or directly buying from you), and 3) acting as a credibility check for your business. Say you’re at a networking function and you give someone your business card. If that person’s interested in doing business with you, they’ll inevitably check your web site when they get back to the office. If you’ve presented yourself in person as a professional, but your web site presents as amateur, you’ve got a credibility problem.
3. Lack of authenticity. This is something I’ve been talking a lot about lately, because I see more and more people out there offering to teach you things they haven’t yet achieved for themselves: social media experts who don’t have followers on major social media sites, business experts who promise great riches, but haven’t achieved them for themselves…you have to have the goods to back up what you’re offering! And if you don’t, your prospects will see through you. From miles and miles away.
4. Lack of a clear marketing strategy. Imagine if you were going to take a roadtrip. You know where you want to go, but not how to get there, and you don’t have a map. Would you just get in the car and drive around aimlessly, hoping you hit the right street and end up where you meant to go? No. Likewise, you can’t just start driving around hoping to pick up clients here and there without a clear marketing strategy that’s designed with your target market in mind.
You might be great at what you do, but if you don’t have at least these four pieces in place, you’re going to be missing loads of business and wondering why your business isn’t working. And if you don’t know how to get these four pieces figured out, you need help. It’s good to have a system, it’s great to have a plan mapped out. And even better if you can get an outside perspective, giving you ideas and solutions you might not have thought of on your own.
Listen in to 88.7 FM’s “Rubicon Salon” this Friday, August 7, at 9:30 AM to hear Business in Blue Jeans CEO Susan Baroncini-Moe being interviewed by host Ingrid Cummings. You’ll hear how Susan ended up as the CEO of a business consulting and coaching firm for small business owners, why she thinks Twitter is overrated, and her tips for business success!
I just read this on my friend Bob Burg’s blog and wanted to share it:
“A Thought on Price”
by John Ruskin, English Philosopher, 1819-1900
“It is unwise to pay too much, but it’s also unwise to pay too little. When you pay too much, all you lose is a little money. But when you pay too little, you stand a chance of losing everything, because the thing you bought is incapable of doing what you bought it to do. The common law of business balance prohibits paying a little and getting a lot – it just cannot be done. So, when you deal with the lowest bidder, it is wise to put a little something aside to take care of the risk you run. And, if you do that, you can afford something better.”
Remember, when you’re considering spending for your business, you get what you pay for.
I’ve said it so many times. I’ve beaten this one to the ground. But honestly? I don’t think it can be overstated. I don’t think I can say it enough times. I’ve linked to articles form Forbes and Entrepreneur that say now is a fantastic time to start a business. And today, CNN has joined the fray, with an entire segment of their web site devoted to going solo.
Let’s recap- why is now a perfect time to go out on your own?
Corporate work isn’t as “safe” as it used to be. You don’t even have the illusion of safety anymore, do you? If you’ve seen the news, you’ve seen how many of our largest companies, even the ones that have always seemed so stable, are laying off scores of workers. I’m really not trying to scare you here, but, let’s face it…you could be next. And that’s something you should be thinking about.
We’re all pulling together these days. Lately, if I have a chance to throw work to a reliable, high quality freelancer, versus a larger company, I’ll do it. Why? Because I’d rather my dollars go more directly to the person doing the work than through the financial filter of bureaucracy and paperwork. That is, if I pay a large company to have one of its employees design a web site or logo for one of my clients, I’m essentially paying for that company’s overhead- the office building they’re in, the person who processes my payment, the boss of the person designing the web site or logo, the guy who empties their trash cans, etc. etc. etc. But if I’m paying the freelancer directly, my money goes directly into that person’s pocket. Sure, there’s be some overhead expenses there, but in the end, the person who’s doing the work gets more of the money and that matters to me in this economy. And I’m not the only one.
So what does this mean to you? It means if you’re thinking about going solo and you’re good at what you do, you’ll have people like me out there who would rather hire you than a big company.
Services are more affordable than ever. Everybody’s trying to get more clients these days. So a lot of people are cutting their rates to be more competitive (someday I’ll write another article on why that’s not necessarily the best strategy, but that’s a conversation for another day). And there are more freelancers working on their own now, and their pricing doesn’t always include the massive overhead of a big company. That means you can get all kinds of services much cheaper than any other time.
We don’t know where the economy is going. Honestly? We don’t know right now if things are going to get better or worse. And it’s possible things might get harder. So doesn’t it make sense to at least create a business that generates some pocket money or enough to cover the electric bill? Start a micro-business now in your spare time, and it’ll provide you with that little extra to help out, and then down the road, should you lose your job or decide you’re ready to transition out of the corporate world, you’ll be able to build that business without much effort (yes, really).
What, exactly, are you waiting for? If you’re waiting for the “right time” let me tell you: the right time is now. If you keep waiting, the “right time” will never come and one day you’ll look back at a lifetime spent working like a slave for someone else. Even if you don’t know what kind of business you want to start (or can start), that’s still no reason not to get something going now. In fact, that’s a perfect reason to hire an expert- someone who can show you your options and help you design your business to suit your lifestyle goals.
I can’t tell you how many times people have said to me, “I wish I could work from home like you,” or, “I wish I could do what you do.” Now, it’s not for everybody, but believe me when I say that virtually anybody can do something like what I do- not exactly what I do, but you can work from home (or anywhere in the world- and I have!). You can build a business based on what you know, that brings in a stable income, one that’s large enough so you don’t have to work every day or even all day. Even in this economy.
I was recently reading Entrepreneur Magazine’s article on hot trends for 2009. Now, I don’t always like Entrepreneur and other small biz magazines because I think sometimes these publications focus on businesses that require substantial startup capital. While there’s an obvious need for brick and mortar businesses, they’re not the first thing on my mind when someone comes to me to start a business, especially in this economy.
That said, I do like the current issue, primarily because of the “hot trends” article. The top trends aren’t exactly big news, if you’ve been paying attention to the world around you lately. I think we all know that alternative fuels, environmental services, and “green” businesses are the wave of the new future. And health care is always big, but there’s definitely a trend away from plastic surgery, as we move in a more “natural” direction, so the beauty industry is growing. Interestingly, Entrepreneur points to both ends of the spectrum where retail is concerned: discount retailers and luxury products are of interest these days. Predictably, credit and debt management services and tools provide a rapidly-growing area. And it’s no secret that with the current economy, technology, social networking and business coaching are predicted to be huge in the coming year.
So what should you do with this information? Well, it depends on where you are in your entrepreneurial adventure. If you’re already in business, take a look at the top trends and see if you can make some slight adjustments to take advantage of what’s coming. If you’re in the remodeling business, for example, do what’s needed to get certified and trained so you can be the number one green remodeler in your market. If you’re in the beauty industry, transition into being an organic spa, or become your area’s spa answer to plastic surgery.
If you’re not in business yet, take these areas into account when you’re planning your business and branding. Make sure you take into account which of these areas will grow, not just in 2009, but in the years to come.
Of course, these are predictions, but it doesn’t take a rocket scientist to realize that they’re fairly solid ones. Now’s the time to ask yourself how you can use this information to your advantage!
If you’ve been following my blogs or e-zines, you know that I write many of my articles because of comments I’ve heard from my clients and subscribers. This one is no different. One thing I’ve been hearing a lot of lately is, “I want to start a business, but I just can’t afford it right now,” and “I want to invest in learning how to start a business, but I don’t have the money to put into it.” This is a legitimate, honest concern, and I want to talk to you about it. Because I get it.
I’ve been there. I had times when I was living paycheck to paycheck, barely getting by, praying nothing would go wrong with the car or the furnace. And in a single day, I’ve received $3,000 in bills that I didn’t know how to pay. And I’ll never forget those moments of abject fear and panic, wondering where I’m going to find that money. I’ll never forget wanting to do things I didn’t think I could afford, needing to buy things and knowing I couldn’t.
So I want to talk with you about what I call “the scarcity conversation,” which is a term I picked up from a client, who once said to me, “I’m scared to death because I know in my heart that I should start this business, but I don’t know if I can spend the money to do what I need to do to make it succeed. I’m having a major scarcity conversation with myself.”
Okay, so what is a “scarcity conversation,” anyway? A scarcity conversation is the dialogue you have in your head (or sometimes with other people) and you hear any of these words cropping up with regularity: “I can’t afford….” “I don’t know how I’m going to pay….” “I wish I could ______, but I don’t have the money for that.”
Why is a scarcity conversation a problem? If you’ve read my blogs and e-zines, you know that I approach business in a way that’s different from most other startup experts. I have a hybrid approach that brings in all kinds of disciplines, including psychology and personal growth- because I know that mindset and not just what you’re thinking but how you’re thinking have a massive impact on the level of your success. So the first reason wny you want to get out of the scarcity conversation is because it constantly hammers away at the mindset you need to succeed. The scarcity conversation is all about fear. It’s about uncertainty. It’s about self-doubt. And you absolutely must get out of those thinking patterns to be able to make decisions as an entrepreneur, without doubting everything you do.
The second reason to move out of the scarcity conversation is also mindset-related. The “I can’t afford it” mentality locks you into a way of thinking that you’ll find extremely difficult to get out of, and that becomes a real issue in business. When you’re constantly thinking, “I can’t afford it,” as a business owner, you’ll start to apply that thinking to things that your business desperately needs. The “I can’t afford it” type of scarcity conversation has a way of growing and spreading so that it starts applying to anything, even things you need to grow your business. You won’t put your dollars in the right places if you have “I can’t afford it” floating around in your head.
The point I’m making is this: If you spend your life focusing on what you can’t afford, things won’t change. But if you change your focus, everything will change. If you focus on putting your money- investing it- where it can bring you back the most return, your life, your business, your mindset will transform.
Instead of having the scarcity conversation, have an investment conversation. And I don’t mean stocks and bonds. I mean a conversation about what you can invest in that will make the difference for you. It’s like that old adage, “Give a man a fish, and you feed him for a day. Teach him how to fish and you feed him for a lifetime.” For you, that can be transitioned into “Find a consultant who can give you a fish, and you’ll invest in a nice fish dinner. Invest in a consultant who will show you how to fish, and you’ll be able to feed yourself for a lifetime.” Figure out what classes, workshops and consultants will teach you how to fish- not just give you the fish for now- and invest in what they have to offer.You’ll be making a wise investment that will take you to a place where “I can’t afford it” will be a thing of the past.
Incidentally, that client I spoke of at the beginning of this article, the one who said, “I don’t know if I can spend the money to do what I need to do to make it succeed”? She went on to invest in her business. She invested in designing a business that would work for the lifestyle she wanted, and got trained on how to create a unique brand with a clear target market, how to create and launch new products, how to let the world know she exists, and how to establish herself as an expert. And her business is thriving. She no longer has the scarcity conversations because she knows when she invests her money in her business, it’s going to come back, multiplied.
Another big company is in trouble. Warner Brothers is cutting 800 jobs, over 10% of its global workforce. Disney is expected to follow suit in the very near future. People, Warner Brothers is ranked first in the domestic movie industry.
So why am I telling you this? To scare you? No. I’m telling you because I really want you to think. Think about your future. Think about your destiny. Are you really, truly safer working for a big corporation? Do you know where you stand?
I’ve heard from a few folks who read my recent “Now really IS the time” post and have said they know people who have decided to put their entrepreneurial plans on hiatus. I’ve heard from others who are those people.
I know this is a scary time. I know it’s stressful, I know you’re afraid, I know the risk seems greater right now.
And I’m not telling you that you should start just any business. I wouldn’t recommend certain kinds of high-investment, high-overhead or high-risk ventures right now.
But I am recommending that you consider a style of business you may not have considered before- a business with low overhead, low risk, and frankly, low fear. In this economy, it’s not about halting your plans- it’s about adjusting them so they make sense and aren’t so intimidating.
I know, I know, you’re asking, “But what kind of business is that?!” It’s a Business in Blue Jeans. And if I told you everything in my blog, I’d be out of business. But what I will tell you is that there are ways to take your business idea and your business model and transition it into a Business in Blue Jeans. There’s nothing saying you can’t still pursue the rest of your idea down the road when the economy improves and things are a little safer to take the leap. In fact, I encourage many of my clients to start a low-risk venture first, to provide the funding for the higher-rise, higher-investment ventures they dream of. I call this a “leapfrogging business plan” and I’ve seen it work for several people (myself included, actually).
So if you’re thinking that now is not the time to start a business, that it’s too risky, too scary, or too expensive, think again. Shift your perspective, shift your business model, and ultimately, start funding your bank account for a time when you feel safe enough to start that bigger venture.
This week I heard from a few people who said, “I’d love to go out on my own, start a new business, but I’m waiting until the economy gets better.”
Okay. Fears about the economy are completely understandable. A lot of people are scared right now and it’s not hard to relate. But are you really safer with a big corporation than on your own? Let’s look into that a little:
Do you know what’s going on with your company?
Are you familiar with the books and do you know how stable the company is? What if your company isn’t doing as well as you think? Big corporations often work to build consumer and investor confidence, using press releases and other morale-building techniques to let everyone know how safe and secure everything is. It’s not unheard of for a company to conduct massive layoffs, just days after a positive-sounding press release. So again, let me ask: do you know what’s really going on with your company?
Do you know if your company plans lay-offs?
I’ve heard from some of my friends that their companies have made assurances to some while laying off others. Does anyone really know if their job is safe? Even in a great economy, you might feel safe, but most of us have had unexpected things happen. Let’s face it- companies aren’t evil but they may not always tell you everything. And it’s entirely possible that they may truly not plan to fire people, but may ultimately have to down the road.
Do you have a backup plan? What’s your backup plan, in case something in your situation changes? Do you have one? Are you prepared, in case something goes wrong? Even if you think you’re safe and your job is secure, now is a crucial time to set up a backup cashflow. If you set things up now, you have plenty of time for your business to build and grow, so that if/when you need that income, it’s already in place.
I’ve shared two articles this week, one from Forbes.com and one from WomenEntrepreneur.com. Both say that now is a perfect time to start a business. The reasons why? First, you’ll find that services are more affordable. You’ll be able to get help for your startup are more reasonable pricing, and outsource at better prices as well. Second, this is a time when you’ll be more invested in the success of your new venture, so you’ll work harder and be more likely to succeed.
Although your instinct in a time like this is to play it safe, now is the time to take a risk. You can mitigate some of that risk by avoiding ventures that require a large initial investment or overhead (Business in Blue Jeans is all about safety- and all of my products and services focus on it!). You can also mitigate your risk by starting something part-time while you’re still employed. Hiring someone to help you can be the key to your success.
I know starting a business now can feel like a scary endeavor. But I can absolutely promise you that now is the time to do it and if you do it now, you’ll be glad you did. What would have happened if Walt Disney, Bill Gates and others like them decided not to start their companies when they did (and remember, Disney, Microsoft and Hewlett Packard are just three of the many companies started during economic conditions just like these)?
