Using Google Trends for CI

On Nov. 25, the Wall Street Journal had an article about finding the best “door-buster” items for Black Friday and Thanksgiving weekend sales. A graphic accompanying the article caught my eye – it showed dramatic spikes in Google search activity for a particular brand of women’s boots every year at the end of November… just around Black Friday.

This graph was generated by Google Trends and, while it wasn’t the focus of the article, it got me thinking about the usefulness of Google Trends in identifying marketing opportunities. Imagine what you would learn if you searched for your key products or services, or those of your competitors. If you learned that your customers were looking for information about a competing product during a predictable time period, wouldn’t you want to time your communications to be talking with your market right then?

 

How’s your solopreneur mindset?

I have often wondered about why some people succeed as solopreneurs and others don’t. Almost everyone I run into has at least the basic skills needed for their business; it isn’t that they can’t do the work. Rather, I see attitude and approach as the distinguishing factors between successful business owners and those who never seem to get the traction they need.

Successful solopreneurs become accustomed to living outside their comfort zone. They regularly scare themselves silly. They know that having a great idea is easy; it’s putting that idea into action that requires guts. They may not be natural extroverts (in fact, most of them probably describe themselves as introverts), but they figure out how to act like an extrovert. They learn how to network in ways that are both authentic and effective. They practice their public speaking skills until they can at least convey the impression that they’re enjoying themselves. They hone their writing skills so they can effectively communicate and engage with their market. In other words, they learn to operate while scared.

Successful solopreneurs always think from their clients’ perspective. When they are negotiating a project budget and scope, they always find out what their client’s most important goal is and figure out how they can have the biggest impact on their client achieving that goal. (See my article on Successful Client Needs Interviews for more discussion about this.) They go the extra distance for a client, whether that means adjusting timelines or priorities, creating a new deliverable, or spending more time to make sure the job was done right. They are committed to having every client be delighted with the outcome of their engagement.

Successful solopreneurs ask “why”… a lot. They question the status quo. When they’re told that no one has ever done it that way, they ask why. They will try something new if it might achieve better results than the way things are currently done. They shake things up and assume that whatever they are doing now will need to be changed within a year. They put a sunset clause in every service and product, and re-examine their usefulness, relevance and popularity regularly.

Successful solopreneurs are future-focused. They listen to their clients to identify their most pressing concerns. They proactively seek out opportunities to create value for their clients rather than just waiting for business to come to them. They aren’t afraid to fail; in fact, their philosophy tends to be “Never fear making a mistake; just don’t make the same mistake twice.” They learn from every experience, and focus on solving problems rather than complaining about the current situation.

And finally, successful solopreneurs are committed to having fun. They start with the intention of creating a business that lets them do what they love and that lets them integrate their work into the rest of their life. If something isn’t fun, they figure out either how to have fun doing it or what to do that accomplishes the same thing and is more fun.

As you take an end-of-the-year look at where your business is and where you want it to go, consider how many of the following characteristics sound familiar — or at least attainable. What can you do now to enhance your solopreneurial mindset?

Logo or no?

I used to advise new solopreneurs to invest in a professionally-designed logo – something that reflects well on their business and conveys a certain permanence. And while I have one that I use for invoices and proposals on letterhead, I haven’t used a logo on a business card for years.

Why? A couple of reasons. First, my goal is always to be building my word-of-mouth referral network and that means people remembering my name. I cannot think of an instance in which I remembered a professional because of the person’s logo. In fact, I often can’t remember a person’s business name, but I always remember the individual’s name. So I want to make sure that what my contacts remember is my name and not just a splashy logo.

Second, customized business cards are getting better and better. I order new cards every six months or so, based on my marketing focus and what events I will be attending. Sure, I could slap my logo on a card and just keep printing copies as I run out, but I really like the designs available through companies like VistaPrint.com and MOO.com. The layouts are clear, the designs eye-catching and professional, the options for card stock almost limitless.

I was surprised when I was showing some colleagues my latest business card and, after handling the heavy card stock, rounded edges and thought-provoking quotes on the back, they all asked for a card to keep for themselves. They all knew who I was and how to get in touch with me, but the card felt like something worth keeping. (It was MOO’s “You Can Quote Me” design.) Note that the design and layout are eye-catching enough that I didn’t need a logo to make the card worth keeping.

So, while a logo is nice to have, I would probably invest more on business cards you really like and less on a fancy logo that you don’t use much.

 

 

Improving your ca$h flow

Summer is a slow time for many solopreneurs; our clients are on vacation or taking Fridays off, and they just aren’t calling as often as they do during the rest of the year. That means that many solopreneurs are facing a cash crunch this summer. Our recurring expenses — utilities, ISP, health insurance, etc. — still need to get paid, but the income isn’t coming in. If you were able to anticipate this slow-down, you put money aside to cover your basic expenses when your income is not coming in. But even with preparation, it’s nice to get the cash flow going again. The following are a few thoughts on how to ease cash crunches.

  • Request prepayment of all projects. Many of us do this routinely, or at least get a certain percentage of the not-to-exceed budget up front. However, if you really don’t want to wait for payment 30 days after the end of the job, consider offering a 10% discount for prepayment in full.
  • Learn the name of the Accounts Payable person for each of your clients and contact him or her to find out what you can do to expedite payment. Is there a billing number or cost center you should reference? Do they prefer the invoice electronically? I have found that the smaller the client, the faster I get paid, as long as I’m on a first-name basis with the A/P person.
  • If you don’t already, obtain a merchant account so that you can accept credit card payments seamlessly. Many companies offer this service now, including PayPal, Square and Stripe; while they charge a fee of a few percentage points, you get the money in your bank account within a few days.
  • Include bank wire transfer information when you send your invoice. Your bank or credit union can provide you with this information, and many Accounts Payable departments prefer paying electronically.
  • Pay your expenses with a credit card instead of a check as long as you can pay the credit card bill in full every month. Not only does this postpone payment, but it is much easier to get a refund on a purchase if it was paid for by credit card. Of course, this assumes that you are not carrying a balance on your business charge card. If you have a balance on any of your credit cards, cut up the card and focus on paying down the balance before making any other discretionary purchases.
  • Pay invoices just before they are due. The most efficient way to ensure that no invoice slips through the cracks is to pay bills at single sittings, either weekly or semimonthly. Set up automatic payments when feasible.
  • Don’t take any actions that would suggest to a client or vendor that you are short on cash. So, for example, don’t cancel your business phone line, your web site or any online services that you depend on. You want to always present yourself as a business that will be around a year from now. And remember that your revenue will rise in a couple of months. If you have to spend time re-establishing accounts you canceled, you haven’t saved much in the long run.
  • And finally, take this time to work on some of your long- and short-term marketing projects. If your business is slow, then you have plenty of time to focus on creative ways to remind your clients of why they can’t live without you.

A tag line that works

cleaning-fairiesI just saw a car with a large sign for a local housecleaning service, The Cleaning Fairies/ The tag line was perfect:

We give you your weekends back !

I live near Boulder, and there’s nothing Boulderites value more than free time we can spend in the mountains — skiing, hiking, kayaking, climbing, biking — anything to enjoy our 300+ days of sunshine every year. (And yes, when I saw their car, I was playing hookey and on my way up to the mountains, just because I’m self-employed so I can.) The message I took from the tag line is “I know how much you value your free time, and isn’t that worth way more than the cost of a cleaner?”

What better way to sell the value of your service than by reminding people of a better way they could be spending their time?

How do you describe your service to prospective clients? Do you talk about what you do or how you do it, or do you talk about the amazing thing that happens when you are done? And see this post about understanding and speaking effectively about your value.

 

Who’s showing up for work?

We solopreneurs are CEOs of our business, but that stands for Chief Everything Officer. We are responsible for everything from strategic planning to marketing to sales to accounting to – oh, yeah – whatever it is that we charge our clients for.

As I plan out my day every morning, I make sure my most strategic self is showing up. Since I’ve found that my most creative time is in the morning, I schedule my Business Analyst persona for uninterrupted time from 9 until to noon most days. After lunch, my Accounting alter ego may appear to handle invoices and bills, or the Writer will come on the scene to queue up some blog posts and a newsletter article. Some days I need my IT skills to troubleshoot the video editing software, or my Marketing self to work on a new outreach effort for AIIP.

If I approach each day’s tasks with the question “who is the best persona for this job?”, I am more likely to be operating at my peak. If I am dealing with a technology issue, I marshal my forces — my Troubleshooter, Creative Problem-Solver, and We Can Do It personas step up to help me figure out a solution. If I have to conduct some primary market research on my own business, I call up my Explorer, Listener, and Open-minded personas to enable me to find out what I don’t know I don’t know yet.

When you tackle something, particularly when it’s not tapping into your strengths, run an inventory of your internal personas and see which ones you can bring to the job.

 

Speaking Effectively About Your True Value

I recently gave two presentations on key survival skills of solopreneurs and intrapreneurs. While both were from the perspective of information professionals, many of the concepts I covered apply to any solopreneur.

While we know the impact info pros can have on their clients’ success, being seen as indispensable takes work. This means finding out how your clients see you, what they don’t even know you can do, and what their biggest unmet needs are that you can address. Then it takes communicating that value in a way that people hear and understand.

 

Successful entrepreneurs and intrapreneurs share certain characteristics. They ask “why?” a lot; they ask “why not?” even more. They focus on the future rather than the past, and seek out opportunities to improve and enhance their services. They are results-oriented rather than process-focused; they ask forgiveness rather than permission. In an info world where everyone sees themselves as expert researchers and the reaction to a page of text is TL;DR (too long; didn’t read), info-intrapreneurs must think creatively to get and keep the attention of their clients and prospective clients.

In addition, check out the recent white papers I wrote for Dow Jones on The Accidental Intrapreneur, at is.gd/bates_intrapreneur, and The True ROI of Digital Content, at is.gd/bates_ROI.

Time for Librarians to Fight Dirty

I recently saw a posting on a librarians’ discussion list for a professional position at a public library at a small community near me. It’s a lovely town and I’m sure that is part of the appeal of the job. However, the salary being offered was $16 to $20/hour for a part-time job [in an area where apartments cost at least $1,200/month]. I was horrified – that’s what I pay someone to mow my yard or walk my dogs. This is not the salary for a position that requires a graduate degree; it’s a salary appropriate for a position that requires no more than a high school education.

This job must go unfilled, at least by a professional. We librarians should not forward these kinds of job listings or encourage other library professionals to apply. The head librarian needs to go back to the town council and tell them that the library is unable to fill a professional job at this low salary and will need to either reduce services or obtain additional funding for the position.

Info pros need to learn the Washington Monument Gambit. What does the US Department of the Interior do when its budget is cut? It closes the Washington Monument – a popular tourist destination staffed by National Park Service rangers – and suggests frustrated voters head over to the offices of their Congressional representatives to voice their feelings.

Librarians need to fight as dirty as park rangers. If we are not given the funding we need, we have to ensure that our organization’s stakeholders feel the pain. Instead of absorbing budget cuts by curtailing professional development, paying professional librarians absurdly low salaries, or eliminating essential resources, we need to fight back.

We have to talk about the tangible value libraries and information professionals bring to an organization or community. (See a white paper I recently wrote on the ROI of Digital Content at is.gd/bates_ROI.) We have to identify the people who can most effectively advocate for additional funding and engage them in ongoing conversations about the role of the library.

And we have to make sure that no employer can expect to pay professionals with graduate degrees $16/hour, regardless of the charm of its clientele.

 

Marketing Through Vignettes

Antique Greek OratorHave you ever struggled to describe what you do so your prospective clients really hear you? Do they look at your web site and say “Oh, that’s nice” or do they immediately recognize you as the person who can help solve their most important problem?

One way to talk about your services memorably is by telling a story. My 10-Vignettes Exercise, which takes no more than an hour or two to complete, helps clarify how you describe who you are and what you do for your clients. And if you don’t have any clients yet, use this as an exercise to picture your prospective clients.

Here’s how it works:
Write 10 stories, each of no more than three sentences or about 100 words. Each story will describe a situation a client is in, what the client got from you at the end, and how the client benefited. You don’t discuss how you did the work, what resources you used, or even what kind of work you did. The truth is that your clients don’t care what you do or how you do it. They just want you to solve their problem.

These vignettes don’t have to describe actual client situations; in fact, they should be sufficiently anonymized that a client would not recognize her own project. Provide examples of what happens after your clients engage you. And while you’re at it, include the budget you think represents the value you offer your clients for this kind of work.

Here’s what a vignette might look like.

[describe your client’s situation] My client was considering moving into the organic personal care market.

[describe what your client gets from you] I provided my client with a customized analysis of the market, with the key issues and strongest competitors highlighted.

[describe what the client does as a result of your work] My client decided to focus on organic baby care products, realizing this was the one area in which they had a clear advantage.

[describe the budget] My client paid $6,000 for this report. (Don’t include this last item in your marketing material; just use it to stay focused on how you can provide the highest value to your clients.)

The virtue of this exercise is that it takes the focus away from you and your services and puts the attention to where it belongs – what your client values. An additional benefit is that you can put these vignettes up on your web site; they are a far more effective way to showcase your value than just listing your services.

20 Ways to Kick-Start Your Marketing

Checklist paper and pen.Every business experiences lulls, times when it seems that you barely have the energy to drag yourself into your office, and you can’t stand the thought of having to go out and generate business. This happens to everyone, and it often happens at the end of the year and during the middle of the year, as people are out of the office or in vacation mode and not doing a lot. Here are some of the actions I add to my marketing plan when I need to rev my marketing efforts up a notch.

1. Directly ask for referrals from your existing clients and prospects. “Who do you know who needs to compete better in their marketplace, who I might contact?”

2. Get in touch with your clients, just to check in. I never cease to marvel at how effective this technique is. Our clients often have a need for our services, but need our prompting to engage our services. Remember, our clients have already shown that they are sources of business.

3. Revisit your existing client list and evaluate who your best clients have been, in terms of project budgets, repeat business, and referrals. Think about what these clients have in common and how you found them. Where could you find other clients like these?

4. Look through your social networks. If you have not established connections with all of your clients, now is the time to do it. And see who their contacts are; if you see any that you think may use your services, ask your client for a connection or introduction.

5. If you identify a new issue or concern to your clients’ businesses, design a specific research product or service that would address your client’s specific needs, and send a (hard copy) letter to your affected clients, telling them about your new offering.

6. Write an article for a publication your clients read. It need not be long, and it should be practical and non-technical. Offer tips on staying updated on new web resources in their industry, or review a new information source.

7. Write ten blog posts and queue them up for posting over the next couple of months.

8. Prepare for and conduct three reality-check interviews with prospects in an industry that is new to you. Learn what their specific pain points are and develop an approach to market to this industry.

9. Identify a current topic of interest to your client base: “Best Practices for Using Social Media for Business Intelligence”, “Most Significant Competitive Intelligence Blogs” or “Best Uses for Twitter”, for example. Conduct your own survey of your network; this is a great time to ping your clients, colleagues, and prospects. Write up the results into a white paper, promote it on your website, and notify all your clients of the availability of your resource.

10. Look through all your projects from the last six months or year. Follow up on the issues that are regular concerns for your clients and send them a recent article on the topic with a note to the effect of “I saw this and thought you might find it useful with regard to {our recent project}”.

11. Commit to three networking outings a week. This could be anyone from a colleague to a prospect to a client. Take a friend to lunch and focus on building your mutual networks. Ask him what kinds of leads he would like to hear about; depending on what he does, that might be sales referrals, job opportunities, leads for good employees, or client projects. Tell him what kinds of clients you are specifically looking for. These kinds of meetings are great ways to hone your 15-second “here’s how I will help you make strategic decisions” speech, and they keep that word-of-mouth network humming.

12. Use an obscure holiday as an excuse to send out greeting cards to your clients and vendors. I remember a family friend who sent out cards for Groundhog’s Day every year; if your contacts are familiar with this North American holiday, this can be a fun way of staying in touch. The Spring or Fall Equinox, the Queen’s Birthday, Mardi Gras, or even something as silly as International Respect for Chickens Day (May 4) can serve as a reason for sending a card. And yes, these are real cards, that get stamped and put in the mailbox.

13. On a related note, check the social network profiles of your clients. If they list their birthday, be sure to send a card. And yes, that’s a printed birthday card, not an ecard.

14. Call a fellow info-entrepreneur. Ask her how her business is doing. Ask her what was the most important change she has made to her business in the last year. Share an interesting resource with her.

15. Call someone who is reliably upbeat and positive. That kind of energy is contagious.

16. Commit to reading every issue of several business newspapers or magazines for a month. Cut out at least two articles from each issue that a client may find useful. Send a hard copy, along with a couple of business cards, and a note along the lines of “I saw this and thought of you.”

17. Identify one new association that your prospective clients are likely to belong to, join it, and evaluate how you can volunteer strategically in a member-facing capacity.

18. Attend a Meet-Up or local chapter meeting of an association you find interesting, even if you do not expect to find clients. Consider the visit to be professional development, not just marketing. I sometimes find my best clients when I am not looking for them.

19. Schedule a meeting of your advisory board. If you do not have one, this is a good reason to set one up. Identify four or five people whom you respect, who understand the issues of running a professional services business, and who are willing to give you honest feedback. Ideally, these are people who live in your general area, and can meet with you. If that is not reasonable, build a virtual advisory board that “meets” online.

20. Review all your professional listings, in the professional associations you belong to, on your social networks, and anywhere else you have your company listed. Upgrade and freshen up your listings, revising them to target your current market and to reflect your clients’ current concerns.