Cathy Stucker - The Idea Lady

Attract Customers and Make Yourself Famous

Dealing With Business Setbacks

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I got an email recently asking for some advice. The question is one that I think all of us face from time to time, especially with a new business or during lean times, so I thought it would be a good idea to share the question and my response with you. Details have been changed for privacy reasons, but the problem is universal.

I am feeling so discouraged right now. I spent a lot of time over the past month trying to sign a new client. There was a proposal followed by questions, meetings, emails, conference calls and more questions. Just when I thought I had the job, I found out it went to someone else.

I was counting on this work and really put everything I had into it. I really need the money I would have made. What do I do now? I don’t have any other prospects. I feel frustrated and sad and I just want to quit.

Wow. Been there, done that. We have all had times when things didn’t go our way. Sometimes big things, like this. Rejection at any time can feel like you were punched in the stomach, and it is especially hard to take when you really need the work (and the money–mostly the money!).
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Why Aren’t You Doing This?

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why-notRecently, a client told me that she is worried her husband will lose his job. Although her business is profitable, they depend on both incomes and couldn’t get by on her current income alone.

As we talked about what actions she could take to prepare for this possibility, she mentioned a few things she believes she could easily do to dramatically increase her income if her husband is laid off. This caused me to ask, “Why aren’t you doing those things now?” She didn’t have an answer at first, and finally said, “Well, I guess because I don’t have to do them. We make enough money right now.”

It is easy to get comfortable with where you are, and not make improvements until an outside force pushes us into it. That doesn’t mean that you have to do anything and everything to chase the almighty dollar, but if there are things you can do to make yourself and your family more financially secure, shouldn’t you at least consider doing them? Maybe some of them aren’t right or will overwhelm you, but even if there are just a few things you can do that will increase your income without messing up your life, shouldn’t you do them?

Pay special attention to things you can do that will generate recurring income. If there is something you can do once and get paid again and again, why not start there? Examples might include publishing a book or ebook, setting up a membership site, or licensing something you created.

Don’t wait for a crisis to strike before you step up and start doing the things you should be doing now.

Set Yourself Apart from the Crowd

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Marketers are a dime a dozen. There are so many people flooding onto the Internet to try to make money – and the poor economy only increased the flow. Too many people see the Internet as the path to easy riches, and the desperation makes them rush into a sloppy bid to make money.

They aren’t thinking about longevity – they’ll think about that later. Unfortunately, their reputation will be carved in stone by that time – sometimes with plenty of blemishes to ensure no one will ever trust them – or that they will simply be ignored.

If you go into business, do it with a promise to yourself that you’ll make a splash. That you’ll set out to be known for something. What that “something” is will be different to everyone.
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The High ROI Hour

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If you were to write down all of the things you do in a typical day, what might that list look like? You would probably be surprised to realize how much time you spend on tasks that do not make money for you. For example, in a typical day you might spend one hour on email, two hours on client work, one hour on invoicing and bookkeeping, one hour on the telephone, one hour on social networking and other online activities, and the other two hours…who knows where they went.

Based on that list, two hours were spent on actual paying work. The rest was administrative, overhead and wasted time. Although some of those other tasks are necessary (It doesn’t pay to do the work if you do not invoice and get paid for it.) it may be possible to have them done by someone other than you. Or you may be able to set up a more efficient system so you spend less time on those tasks.

Here is the really important part: [Read more…]

What Did You Learn Today?

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Do you like to learn new things? Most entrepreneurs have a lot of curiosity about…well, everything. And they love to learn.

Learning can take the form of reading books, researching on the web, attending seminars and workshops, completing a home study course, listening to audio books and teleseminars, watching webinars and videos, signing up for courses at colleges and other institutions, etc. There is a massive amount of information available that can help you to become more successful or enrich your life in other ways.

The danger in learning is that you can spend all of your time learning and not take the time to apply what you have learned. I know I can be guilty of this. I get excited about something new, dig in to learn all I can about it, then I want to move on to the next thing.

Learning is important, but it is more important to do something with the knowledge you acquire. Here is how you can put your knowledge to work:

Even before you tackle a new topic, ask yourself how you plan to use the information. You may not have a solid, actionable plan when you do not yet grasp the subject, but you should at least have a general idea of how the new knowledge will help you.

Choose your best way to learn. Some people learn best by reading or attending a class. Others like to listen to audio or watch video. And some simply dive in and learn by doing. I use each of these methods at times. My choice may depend on what I am trying to learn, or simply what resources are available to me. Be aware of your learning style so you can get information in the way that is best for you.

Do not wait until you know “everything” to put your new expertise to work. There will always be one more book to read, one more class to take, one more website to explore, etc. As you learn new things, put your knowledge to work right away.

Watch for actionable tips. Many times, the most valuable information I get is in the form of little steps I can take to make a difference. Sometimes these tips take only minutes to implement, but have long-lasting effects on my productivity and profits. When you discover an action you want to take, make a note and put a giant star next to it. Then put it in place as soon as you can.

Reinforce what you learn. Take notes, do a review or whatever works best for you to help you retain what you learned. Many people find that the act of taking notes helps them learn more effectively, because restating the lesson causes them to internalize the information. If you are studying with a buddy, take the time to discuss what you are learning.

Know when to quit. If as you learn you determine that what you are learning is not useful to you, quit. You do not have to finish everything you start. Find something that will work better for you.

When we stop learning, we stop growing. Follow your curiosity to discover ways to make your business and your life better.