Covering Oceanside to Victoria

Monthly Archives: May 2016

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Business Tips – Continuing Education

2016-homepage-2-cropAs a serial entrepreneur of more than 18 years, one thing stands out for me… I always have a voracious appetite to learn more!  Learning never seems to stop if you are inquisitive by nature and you should be as a business owner.  Ask you staff, ask your clients and ask your business associates for feedback about your business.  In particular, your clients will often give you the next ideas for your business.  They always want some tweaks to your software or some extra features added to your hardware.

In the technology market, while working for Motorola, we collaborated with clients (automotive, industrial, aerospace, medical, scientific) on projects for the real-time environment.  There were always variations of the defined projects.  Our engineering team was incredibly competent and listened to what clients said about our products.  In many cases, these ideas became the next revision of our product offering.  It’s a great lesson to learn and to try with your own business.

Don’t let your products idle because everything is running smoothly.  bus-plansAlways try to push the envelope and consider the business decision and revenue upside to these improvements.  Your competition is not standing still.  They’re always looking at ways to gain an edge and you need to think this way as well.  This is a great way to build your business plan projections, allowing you to think ahead to the company you will become.  This is critical planning for any business.

When you consider more formal education, think outside the box.  As a web design company owner of 14 years, I push myself to attend technical training but I’ve also picked up an Executive Coaching Diploma, an IFIC Financial Investor Diploma.  Most recently, I took a 2-day intensive course on the legal issues that impact business owners, sales people and other staff.  This will help make me a better owner.

Always look for ways to improve your management skills and business knowledge.  It will pay off very well for your business.

For more details please call 778.440.3031

 


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Business Tips – Business Coaching

Category : Web Stuff

coaching As a business owner, it is important to receive objective points of view.  Sometimes friends, family or business associates will be reluctant to give you the feedback you need.  Imagine if you were about to make a fairly radical change to the product offering you provide and you wanted to solicit straight forward feedback.  A Business Coach has been trained to ask the right questions.

For example a coach may ask “how do you feel about making this change to your  portfolio?”  or may ask…   “how will this impact the way you are doing business right now?”   or may ask…   “what’s holding you back from making this change?”

These are often referred to as single/double/triple loop questions a coach may ask.  coaching2They are compelling questions meant to push you as an entrepreneur to make the decision with analysis and research.  It usually takes someone who is not too close the business and will ask the tough questions.

You can also ask yourself these things.  It turns out to be quite cathartic once you understand the process.  I have coached executives and entrepreneurs for many years and an understanding of when to ask the tough questions, comes with experience.

StudioIMI provides solutions for small business, franchises and corporations.  Please call to discuss your needs and learn how our coaching experience can help your brand.  778-440-3031


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Business Tips – Learn from Success

Category : Web Stuff

advertisingAs a business owner, you may become stuck making decisions that have a financial or logistical impact on your business. One of the toughest areas that business owners have difficulty with is marketing.  It can be crushing to invest thousands on your website or a social media marketing campaign when the results aren’t happening.  StudioIMI provides social media consulting for clients always with the caution, that it depends on your market and the demographics as well as other factors.  Businesses react differently to various marketing strategies and determining which ones will be more successful takes patience. It is however, critical to measure and monitor the results, good or bad in order to plan future marketing strategies.

With some of our clients, we have seen long-term strategies start to lose traction over time. logo_mobile Why?  Maybe the competition has caught up, or the campaign needs a major revision or maybe it’s time to take the campaign off-line for a bit.  You may be thinking that particular campaign has failed, however we look at the results as another metric in our marketing “toolbox”.

If you review all your marketing campaigns (blogs, SEO, PPC, Social Media, etc) on a monthly basis, and focus on how the majority of your money is spent, it should become clear and it may be time for a new approach. This is how we learn from less successful tactics and make sure not to repeat them.  Throwing more money at a losing campaign usually makes no sense. It is time to change and move on.

image10You may consider hiring a staff member for some experiential marketing.  Dropping brochures off at the target audience, attending networking events, passing out business cards or joining a Rotary club to become part of a larger network. You don’t know until you try and failure is a part of this process. Dissect the campaigns that did not work, why, could they have been handled differently?  You will have a better chance of success by reviewing the data, learning from the positives and negatives and always thinking ahead a few steps.

 


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Business Tips – Connecting

Category : Web Stuff

simi_logo_newOur business tip for the day is fairly simple.  Network with other companies and associates you know in your town.  Share your passion with them and leave them with a couple of takeaways.  Take notes about these associates and your conversations.  Learn something about them and their own business.  Consider building relationships with people who run in the same circles.  You may be attending a seminar or a Chamber event at the same time. If you bump into that person, you are armed with some information about them.  If you feel that extra connection, you can always suggest grabbing a coffee to share mutual ideas.

I have a regular group of business associates I meet with monthly to discuss new ideas and listen to the successes they’ve had.  You get to learn something about another business and you may have a mentor of sorts to test your ideas.  Solicit input from everyone you can.  It will test your assumptions and cause you to move ahead or perhaps head back to the drawing board.

An example I have to share comes from the Director of the Maritime Museum, David Leverton.  IMG_6273

In rebuilding their brand, they have created a new campaign to run in Victoria, BC.   It has great potential to draw people into the Museum and make a small donation or even become a member.  The MM has garage sales, special events at their location on Humboldt and they are looking to build their membership.  We have coffee or lunch once a week to share ideas.

I ask for David’s input and visa versa.  It has great effectiveness.

 

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