Sales Strategy
Let’s Reinvigorate and Refocus Your Business | February 17, 2016 (1 comment)
Miami, FL—This article, for me, stems from conversations I’ve had with owner-operators during my Continental Buying Group show and the Centurion show in Scottsdale. This is my age group: the 50-65 year-old that feels burned out. I admit I don't understand all of those feelings because I'm just not there—yet. So, I decided to do some research and write this article about regaining your mojo!
As an entrepreneur it's easy to get stuck in the weeds of your business. We spend each day fending off the deluge of incoming emails and putting out fires. This is not a good mood to be in. This routine will start to feel tedious. That's why everyone recommends having refocusing sessions every couple of months. Taking a few scheduled structured hours away from the computer will do you and your business wonders. Not only will you get a break from the daily grind but you'll also be able to immerse yourself in the big picture, find focus, and get into a good, happy groove again. After really researching this one I came up with 3 topics we should all consider:
1. What I want the business to do better. Most everyone I speak to has a long list of things about their business they feel are not getting done as well as they could be. Maybe your website needs to be updated, maybe you're lacking a blog that you feel could reach out to more customers or maybe you're just not getting that new customer you want and need?
On a blank piece of paper, write down all the things that “bug” you about your business; what's not quite up to snuff. Then look at the list and pick three things that really matter. Perhaps the impact sales or customer satisfaction or maybe they are in conjunction with the overall brand experience you want to create. Next steps: determine what it will take to do them. For each item you wrote down, decide what it will take to improve them and what information you’ll need before taking action. Set up any information gathering initiatives as soon as possible. If they come with a high price tag then brainstorm to fit them in the budget.
2. What do you yourself want to do better? Sometimes we are our own worst enemies. We know that if we sit down at the computer without a specific task list, we will spend hours doing nothing but email—and yet we do it anyway. We know multitasking decreases efficiency, yet we still pinball attention back and forth between various size tasks and the importance of them. Give yourself 20 minutes to make your own "needs improvement" list. Think about your typical work behavior. When do you feel the most depleted, lost, frazzled or stressed, and why? Most importantly, what would make the difference? A cleaned-out inbox? A clutter-free desk? Fewer nighttime emails?
Now pick 10 work rules to live by. Whittle down your undoubtedly big list to 10 items or less. Turn each into a rule to live by, but be fair to yourself. Anything too rigid won't be helpful. Each one should start with, “I always try to..." Type them up in a work list and post it in a visible place where you work. Then slowly integrate them into your work habits by adopting a new one each week.
3. What am I currently thinking through? Entrepreneurs spend a lot of time grappling with big questions: Am I making enough money? (Everyone's first question when I ask!) Should I sell the business? Should I take on a partner? Should I venture into a new market? Should I raise money or continue to bootstrap?
These are serious questions facing your business. Select three or fewer that are the most crucial to your work being done in the next six to 18 months. Clarify them. Are you really thinking about getting a partner? Or is the question, “How can I make my experience of entrepreneurship less lonely?” Or “How can I get the industry expertise to grow my business in the direction I want?”
Give yourself plenty of time to contemplate, consider and research the questions without answering them or making a fast decision. Decide to be only a consumer of information. Brainstorm a short list of things that you can do to educate yourself more and then get them on a calendar. Replenish the list every time you get to the bottom. Most importantly, take the remainder of questions that you didn't use and put them on one big list labeled, “Not Now.” It will serve as a gentle reminder that you can't address everything at once and that in order to move forward, some questions will have to go unanswered.
These exercises can be good at any point in your business but they are particularly helpful when you are stuck in a rut or bad routine. Remember that as the boss, it's up to you to set the tone for your work. So give yourself permission to play hooky from the usual so you can bring back a fresh perspective. --Andie
Andie Weinman, president and CEO of Preferred Jewelers International / Continental Buying Group Inc., was born with the “Jewelry Gene” working in the jewelry industry since she was only ten years old. Her first job was as a cashier in the opening of a catalog showroom doing a fantastic job even at that tender age. Andie holds a B.A. in musical theatre and a B.S. in marine biology from The University of Tampa. When she realized that seawater and marine biology were not good on her hair and she wasn’t quite good enough to make it on Broadway, the jewelry business beckoned. Andie has picked diamonds, sorted color stones, shot waxes and performed a multitude of jobs in the manufacturing of jewelry. Her negotiating experience and prowess has given her the reputation as being tough but fair in her dealings with vendors. In 2012 the Indian Diamond and Color Association awarded Andie the Prestigious Doyenne Award of the Year.