Monday, July 30, 2007

Meeting Madness Part 3 & Referrals

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Monday Morning Motivators – July 30, 2007
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Espresso business tips are designed to "caffeinate" your mind while your java gets you going. Subscribing and Unsubscribing at www.mondaymorningmotivators.com

“A dead end can never be a one way street; you can always turn around and take another road.”
--Bo Bennett

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Table of Contents
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1. Managing Meetings Part III, Cost – Linda Fayerweather
2. Mastering Referral Marketing - Rebecca Booth
3. Do It, Try It, Fix It – Referral Incentives - John Meyer
4. To Do this Week
5. Fine Print

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1. Managing Meetings Part III, Cost
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Whether you are having a staff meeting or a networking meeting, meetings are not a free resource. A typical meeting in my life is a business activity and not a social event and should be designed to be beneficial and profitable. Here is one way to quantify your meetings:
1) Calculate the cost by multiplying the
(N) Number of participants.
(R) Their labor rate, and the
(t) Length of the meeting.
(E) Then add all other expenses which should include travel, materials, refreshments, room rental, and other expenses.


Cost = N * R * t + E

2) Estimate the Value of the results expected from the meeting.
For some issues this step will be easy. Resolving a manufacturing inefficiency, for example, could save thousands of dollars. Developing an effective strategic plan could earn millions. This may be difficult for less tangible results, such as staff meetings, policy meetings, or meeting with a potential referral source. In those cases, you will have to guess the value.
3) Determine the return on your investment (ROI) by comparing value versus cost.


ROI = Value - Cost

If this analysis predicts a loss, either revise the meeting's scope or cancel it. After all, a meeting, like any project, should have a profit potential.

Copyright 2007 Linda Fayerweather
Changing Lanes LLC
www.ChangingLanes.biz


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2. Mastering Referral Marketing
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Many people think that winning the game of referral marketing is akin to having the most toys when you die. The number of business cards and/or people you “think” you know is not the same as having a solid relationship between a smaller group of people. You’ll get more from that smaller crowd than through the masses you think you have to know to win. Here are a few pointers on building up your referral business:
• Establish relationships with others who “swim in the same pond” as you.
• Relationships take time to develop. Schedule meetings on a regular basis to really get to know the person you want as a referral partner. Find out what they sell and what types of referrals they’re looking for. Make sure they know what you’re after too.
• Upgrade the level of your referral. Instead of accepting a “call this guy, here’s his card,” ask your referral partners for a personal introduction to the person.
• Make sure you have a budget for your referral marketing. Like any marketing initiative, you need to set aside funds for networking memberships, lunches, meetings, etc.
• Lastly, track your effectiveness!

Copyright 2007 Rebecca Booth
Marketing Goddess
Imagine That!
www.marketingsolutioneers.com

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3. Do It, Try It, Fix It – Referral Incentives
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Your word-of-mouth-based business can be greatly enhanced if you design some creative incentives for people to give you referrals. Although finder's fees can be appropriate, they are not the best ploy to use in most situations. Remember, money is not always the best motivator. Try different types of incentives, track the results, stick with the one that works best.

Copyright 2007 John R. Meyer
District Director, BNI Ohio
http://www.bni-ohio.com

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4. To Do This Week
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Review your credit card fine print.


Monday, July 23, 2007

Meeting Madness Part 2

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Monday Morning Motivators – July 23, 2007
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Espresso business tips are designed to "caffeinate" your mind while your java gets you going. Subscribing and Unsubscribing at www.mondaymorningmotivators.com

“31% of adults admit falling asleep in meetings.”
--Mary Cadden, USA Today

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Table of Contents
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1. Managing Meetings Part II Not! – Linda Fayerweather
2. The 5 Ws and an H Meet WIIFT? - Rebecca Booth
3. Cultivate Your Networking Relationships - John Meyer
4. To Do this Week
5. Fine Print

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1. Managing Meetings Part II – Not!
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Okay, I could do a nice “Top Ten Tips for Running a Meeting”, but it is midsummer and I’m feeling ornery. Here is my list on how to waste people’s time in meetings. I’d love to hear from you as to ways you’ve been “wasted” in meetings.
• Starting late.
• Repeating information for latecomers.
• No agenda.
• Allowing conversation bullies.
• Reading out loud each word of the power-point.
• Making decisions on personal opinions.
• Discounting contributions of others.
• Attempting to reach consensus.
• Ending late.
Well, there you go; lots of waste which is not at all lean. The key costs to any meeting are Personnel Time (total hourly cost of each attendee) and Opportunity Cost (what else could these people have been doing). Before you start your next call to order, make sure that the cost of the expected outcome will outweigh the cost of the meeting.

Copyright 2007 Linda Fayerweather
Changing Lanes LLC
www.ChangingLanes.biz


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2. The 5 Ws and an H Meet WIIFT?
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Holy smoke what does that headline mean? Today, I challenge you to think of the WIIFT (What’s in this for Them – your clients) by asking the 5Ws and an H (Who, What, Where, When, Why and How). Ask yourself:
• Who benefits the most from my product/service?
• What is it that they gain from using it?
• Why do they choose me over my competition (or Why should they…)
• How do they use my product/service best?
By asking questions such as these you’ll not only hone your skills as an ad writer, but you’ll also be a better salesperson. Remember; sell the BENEFITS and not the features in everything you present to the client. Know What’s In This For Them to succeed. PSST…asking the client the 5 Ws and an H along with the WIIFT is also a good thing to do.


Copyright 2007 Rebecca Booth
Marketing Goddess
Imagine That!
www.marketingsolutioneers.com

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3. Cultivate Your Networking Relationships
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Networking is more like farming than it is hunting. Crops don't produce products overnight and networkers don't build their word-of-mouth business overnight. The longer people participate in a network organization, the greater the average number of referrals they receive.

Copyright 2007 John R. Meyer
District Director, BNI Ohio
http://www.bni-ohio.com

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4. To Do This Week
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Enjoy a Midsummer’s Night Dream!

Monday, July 16, 2007

Meeting Madness Part 1

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Monday Morning Motivators – July 16, 2007
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Espresso business tips are designed to "caffeinate" your mind while your java gets you going. Subscribing and Unsubscribing at www.mondaymorningmotivators.com

“Meetings are indispensable when you don't want to do anything.”
--John Kenneth Galbraith

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Table of Contents
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1. Managing Meetings Part I – Linda Fayerweather
2. Designing Attractive Ads - Rebecca Booth
3. Birds of a Feather Flock Together! - John Meyer
4. To Do this Week
5. Fine Print

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1. Managing Meetings Part I
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We’ve all had great meeting and maddening meeting experiences. Keeping meetings meaningful is always challenging and over the next few weeks we are going to build a structure so that you will be able to help your company have meetings that matter.
Part I
--Before the meeting: Participants need to be reminded of when and where the meeting will be along with the agenda and length of time the meeting will last. This can be handled by phone, email or snail mail depending on your audience.
--Start all meetings on time: Late participants are just that – late.
--Starting the meeting: Begin meetings and training events with a Lean technique called SPACER to help center the energy and set the tone:
Safety – Explain where exits, restrooms and other essentials are.
Purpose – Why are we here?
Agenda – Identify it or have it on the wall in BIG print.
Conduct – How do we behave?
Expectations – What are the outcomes we want?
Roles – Know your role – coach, facilitator, or participant.
SPACER needs to be completed in 5 minutes or less and allows a transition from life to the agenda.

Copyright 2007 Linda Fayerweather
Changing Lanes LLC
www.ChangingLanes.biz


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2. Designing Attractive Ads
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Advertising really does work, but many times the reason why the phone doesn’t ring is because the ad itself didn’t attract attention. Remember, people scan before they read. Here are a few tips to get that reader to stop and linger on your ad:
• Make sure there is a lot of contrast in the ad: either a strong black background or lots of white space. Most other advertisers cram every single piece of information into their ads to get their money’s worth. What this does is to create a “grey” appearance to the ad. Designing an ad that has strong contrast will get you noticed every time.
• Limit the use of typefaces, two or three, max will do.
• Use photographs, as large as you possibly can.
• Remember, you’re job is to entice the prospect to call or to act. So keep the ad attractive, clutter free and make sure your phone number can be easily found.

Copyright 2007 Rebecca Booth
Marketing Goddess
Imagine That!
www.marketingsolutioneers.com

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3. Birds of a Feather Flock Together
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People who participate in networking groups are above-average networkers. If you want to build a successful word-of-mouth based business, you need to surround yourself with like-minded people.

Copyright 2007 John R. Meyer
District Director, BNI Ohio
http://www.bni-ohio.com

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4. To Do This Week
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Volunteer to run a meeting.

Monday, July 09, 2007

CheckList Sanity - Writing Tips - Hire Your Group

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Monday Morning Motivators – July 9, 2007
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Espresso business tips are designed to "caffeinate" your mind while your java gets you going. Subscribing and Unsubscribing at www.mondaymorningmotivators.com

“Here men from the planet Earth first set foot upon the Moon. July 1969 AD. We came in peace for all mankind.”
--Neil Armstrong

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Table of Contents
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1. Checklist to Sanity – Linda Fayerweather
2. Tips on Writing Better Copy - Rebecca Booth
3. Hire Your Networking Groups Carefully! - John Meyer
4. To Do this Week
5. Fine Print

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1. Checklist to Sanity
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Looking around your office on a Monday morning, do you ever wonder how some things just get forgotten? A checklist is one simple time efficient way of making sure things get done correctly. The very act of creating the checklist often helps find the little tasks that big jobs rely on for smooth operations. Now, before you say “I’m a big girl (or boy) and don’t need a checklist!” think about NASA or SciFi movies and the familiar reading of the checklist to launch with the final “launch sequence complete; mission is good to go”. Although most of what we forget to do will not lead to a disaster, the mental space and anguish could be used for more productive activities. If lean businesses and NASA rely on checklists, maybe we will find some sanity there, too.

Copyright 2007 Linda Fayerweather
Changing Lanes LLC
www.ChangingLanes.biz


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2. Tips on Writing Better Copy
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Keep these few tips in mind the next time you have to write an ad:
• Your copy should be about the customer and not you. Too many ads tell us about a product, company or service, and not enough about WHY we should care.
• The copy should have a single focus. Don’t list all of the supporting features and benefits. It dilutes your message and memorability.
• The best ad concepts are visual. People scan before they read. If you can’t catch them when they’re scanning, you won’t snag them at all!
• Make sure the phone number is right! Call yourself it only takes a few seconds to double check.
• Your headline is critical. If it’s vague enough to be used for any business like yours, then can it and start from scratch. Put yourself in your customer’s shoes and rewrite it. Make it pertinent to your business.

Copyright 2007 Rebecca Booth
Marketing Goddess
Imagine That!
www.marketingsolutioneers.com

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3. Hire Your Networking Groups Carefully!
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Being a member of a well-organized network is like having dozens of salespeople working for you, each referring prospective clients your way. Make sure you know who you are hiring when you join a networking organization.

Copyright 2007 John R. Meyer
District Director, BNI Ohio
http://www.bni-ohio.com

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4. To Do This Week
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Create your Friday checklist for a smooth Monday.

Monday, July 02, 2007

Retial Lean - Happy Birthday - Word of Moutn

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Monday Morning Motivators – July 2, 2007
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Espresso business tips are designed to "caffeinate" your mind while your java gets you going. Subscribing and Unsubscribing at www.mondaymorningmotivators.com

“All tyranny needs to gain a foothold is for people of good conscience to remain silent.”
--Thomas Jefferson

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Table of Contents
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1. Retail Lean – Linda Fayerweather
2. Businesses: Made in America - Rebecca Booth
3. Elements of a Successful Word-of-Mouth Based Business - John Meyer
4. To Do this Week
5. Fine Print

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1. Retail Lean
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According to a Wall Street Journal article the average shoppers at Wal-Mart stays 21 minutes and has 10 items on their list. If they find only 7 items in their 21 minutes on average they will leave. This is great information for the small retailer because it demonstrates that shoppers don’t want to waste time looking. Now, I’m right there as I’m reminded of the grocery store I shopped at for years that kept the chocolate syrup next to the kitty litter and the cheese was in the meat section making me run through the entire store if I needed these items. So, small retailers take heart. The easier you make the shopping experience, the more your customers will return and sometimes forsake the big box store for your time saving place. Lean businesses believe in eliminating waste no matter where it is. Happy customers are customers that have their time respected. Now, if I could only find the chocolate syrup. . .

Copyright 2007 Linda Fayerweather
Changing Lanes LLC
www.ChangingLanes.biz


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2. Businesses: Made in America
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Happy birthday America! Let’s celebrate the week ahead by saluting some of the country’s most tried-and-true products:
• Louisville Slugger – Made in Kentucky since 1884.
• Wonder Bread – Founded 85 years ago and still going strong – 127 million loaves are sold a year.
• Harley-Davidson – Two friends William Harley and Arthur Davidson made their first motorcycle in 1903. 2006 sales: 350,000 bikes.
• Ivory Soap – has been keeping Americans clean for 128 years.
• Crayola – Founded in 1903, nearly 3 billion crayons are produced annually.
• Woolrich Blankets – kept Civil War soldiers dry and warm and today they’re still in use 177 years after Woolrich’s founding.
• Jack Daniel’s – has been distilled in Lynchburg Tenn. since 1866, but you can’t drink whiskey there – the town has been dry since Prohibition!

Copyright 2007 Rebecca Booth
Marketing Goddess
Imagine That!
www.marketingsolutioneers.com

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3. Elements of a Successful Word-of-Mouth Based Business
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The keys to building a word-of-mouth based business is mutual support, relationship building, and the development of lasting professional friendships.

Copyright 2007 John R. Meyer
District Director, BNI Ohio
http://www.bni-ohio.com

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4. To Do This Week
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Celebrate Independence!