Archive for October, 2011

What Does Business Reinvention Really Mean?

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The phrase “business reinvention” might have you quaking in your boots. After all, who wants to start all over again from scratch?

Ah. I think I can help by offering up a different definition for you to ponder.

Business reinvention isn’t about tossing it all away and starting from scratch (unless you really, really want to do that). Instead, I think of business reinvention as a process of looking at your current business model and your own goals, and finding places that could use a makeover. Knowing why you’re reinventing your business is the first step in the process of transformation.

There are lots of places where you can transform your business: your marketing, your target audience, the services and products you sell, the way back-office administration happens, your technology, your scale (national versus local), your resource base, your business and personal goals. You can choose to remodel every single one of these items or pick the one that will give you the biggest bang for the buck.

Some business reinvention stories…

One of my clients is a chiropractor and has been doing it for nearly 30 years. But as she gets older, its harder and harder to lift patients off the table and the work itself causes her back and shoulder pain. In addition she feels that she would like to reach a larger audience with her message of being in conscious choice about all aspects of your life and not just following what everyone else tells you to do or think. She will take everything she’s ever learned as a chiropractor and everything she’s been studying and living for the past 30 years and create a new business where she can teach and coach.

One client of mine is taking her existing locally-based business and making into a virtual business that she can conduct from anywhere in the world. This frees her up to travel with her husband and continue to have a business she loves.

Another client of mine stayed in the same industry but changed his service offerings. In the past he had offered sign design and installation to his local customers. Now he’s offering sign management on a national scale to large organizations with multiple locations throughout the USA. He’s taken all his knowledge, experience and connections and put them to work for a new, larger, and more lucrative target audience.

In all these business reinvention stories you’ll see a common thread: as a small business owner, your goals, your values, your needs and your lifestyle can change. And you can reinvent your business to reflect these new dreams and move you towards the business and life you want.

You decide how, when and where to transform your business

Business reinvention is what you make it. But it’s not making tiny tweaks here and there; it’s shaking up the whole business and marketing models and realigning them to your goals, values and needs.

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Category: Rethinking Your Business, Running a Strong & Efficient Business
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What’s Your Intention?

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I went to a professional video techniques workshop this weekend with Rick Toone and Ken McArthur. They focused on the importance of planning in creating video as a marketing tool for your business, being strategic in your intention for  the purpose of each scene, the overall message of your video, and what will you do with it.

I know I harp on strategy and planning a lot, but bear with me as I harp on it some more. What Ken and Rick were talking about regarding creating videos for your business applies to every thing you do to market your business. Some people enjoy writing blog posts or creating videos to market their businesses. Some people enjoy public speaking and networking to market their businesses. But before you get your hands and head into your next marketing project, ask why you’re doing it: who are you trying to attract, what are you trying to say to them, what you want them to think and feel as they interact with your marketing technique, and what you want them to do afterwards.

But don’t forget the biggest why of all: Why are YOU doing this particular marketing technique?

I’m speaking on Wednesday to a group of women entrepreneurs at the Women’s Business Forum. Before I write that speech, before I haul myself out of bed before the sun rises, before I stand in front of an expectant group of business owners and talk about the psychology of marketing to women, I have to think long and hard about my personal intentions for this program.

Sure I want to educate them and introduce myself to them…that’s a given, a basic necessity, the bottom-floor reason why I’m doing it. I have always deeply admired what the Women’s Business Forum is doing: as a non-profit organization, they empower female small business owners to succeed by offering free educational programs and mastermind groups. Giving 1-hour and 4-hour workshops to this group, free of charge, is my way of contributing to the magic that is the WBF. I’ll do it as often as they invite me to do it.

It’s not my intention that someone walks away from my presentation on Wednesday and says, “Gosh, I can’t wait to hire Karyn for thousands of dollars!” (I won’t say no if they do…I also have an intention for earning a large income from my coaching and consulting business. :)) But if one person walks away with a little more knowledge, a great marketing technique, a brilliant way of looking at their business through a different lens, I’ve done my job.

Of course I’ve planned out my speech. Of course I’ve planned out my wardrobe. Of course I’ve loaded up with business cards. The most important implementation I’ve done is to stop and ask myself: Why are you giving this particular speech, on this particular day, to this particular group?

Strategic thinking starts with self-knowledge.

 

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Category: Business Strategy & Planning, Marketing