Check out the Google Hangouts video above for some interesting insights about growing your business. Here are some nuggets I took away from the session.
- Get clear on what you want out of your business. Often people build the trappings of success but lose because the overhead is killing the bottom line. And many times they weren’t clear that what they really wanted out of their business and life wasn’t wrapped up in those trappings. In particular people commented about living their lives now for simplicity (less infrastructure, fewer or no employees, JV partners that know well, trust, and have good relationships with).
- You need to fail and fail quickly.
- Meet people. Don’t be a wallflower. Whether it’s tradeshows, meetups, mastermind groups, whatever. You may have a great home business but you need to get out too. Face-to-face relationships are much more powerful than someone just added to your list.
- Give gifts instead of free stuff (“Free Gift” is an oxymoron – either it is a gift – which prompts reciprocation – or it is free, no strings attached – and no commitment). You need to provide Value. “Free Trial” is a better version of free (since the trial isn’t forever).
- TV/Radio/Podcast exposure beyond being able to claim you’ve done it, unless it is something like being on Oprah (when she was the go to place), doesn’t tend to drive results. People don’t order when watching their TV (unless of course it is the Shopping Network).
- Mastermind groups – it is helpful to have people from different industries and backgrounds who each bring something different to the table. Everyone needs to be able and willing to contribute. Otherwise people will stop seeing the value. It is also important to hold each other accountable.
- Affiliates – don’t promise reciprocation on mailings – you need to respect your list and only promote what you believe in – or your list will leave you.
Comment below on what insights you gained from it. I’d love to hear.