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	<title>Leadership development &#38; business development tools &#187; Small business strategies</title>
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	<description>Loretta Love Huff, The Dream Leader for Business:  People and teams EXCEEDING their dreams!</description>
	<lastBuildDate>Sun, 13 May 2012 23:46:44 +0000</lastBuildDate>
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		<title>7 Requirements to Turn a Dream into a Business</title>
		<link>http://lorettalovehuffblog.com/2012/03/7-requirements-to-turn-a-dream-into-a-business/</link>
		<comments>http://lorettalovehuffblog.com/2012/03/7-requirements-to-turn-a-dream-into-a-business/#comments</comments>
		<pubDate>Fri, 30 Mar 2012 01:27:53 +0000</pubDate>
		<dc:creator>LorettaLoveHuff</dc:creator>
				<category><![CDATA[Business planning]]></category>
		<category><![CDATA[Business planning process]]></category>
		<category><![CDATA[Business strategy]]></category>
		<category><![CDATA[Goal setting]]></category>
		<category><![CDATA[Personal effectiveness]]></category>
		<category><![CDATA[Problem solving]]></category>
		<category><![CDATA[Productivity]]></category>
		<category><![CDATA[Small business strategies]]></category>
		<category><![CDATA[achievement]]></category>
		<category><![CDATA[Coaching]]></category>
		<category><![CDATA[goal achievement]]></category>
		<category><![CDATA[goal setting]]></category>
		<category><![CDATA[implementation]]></category>

		<guid isPermaLink="false">http://lorettalovehuffblog.com/?p=1423</guid>
		<description><![CDATA[
			
				
			
		
One of the things I hear over and over again when I work with my clients is &#8220;Wow!&#8221; I never thought of that!&#8221;
There&#8217;s something about the process of talking out loud with another person skilled in thought facilitation that generates insight, creativity and innovation that simply isn&#8217;t possible on one&#8217;s own.
A recent new client spent [...]]]></description>
			<content:encoded><![CDATA[<div class="tweetmeme_button" style="float: left; margin-right: 10px;">
			<a href="http://api.tweetmeme.com/share?url=http%3A%2F%2Florettalovehuffblog.com%2F2012%2F03%2F7-requirements-to-turn-a-dream-into-a-business%2F"><br />
				<img src="http://api.tweetmeme.com/imagebutton.gif&amp;source=http%3A%2F%2Florettalovehuffblog.com&amp;style=normal&amp;b=2" height="61" width="50" /><br />
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<p><a href="http://lorettalovehuffblog.com/wp-content/uploads/2012/03/dream1.jpg"><img class="alignleft size-medium wp-image-1427" title="dream1" src="http://lorettalovehuffblog.com/wp-content/uploads/2012/03/dream1-300x225.jpg" alt="" width="300" height="225" /></a>One of the things I hear over and over again when I work with my clients is &#8220;Wow!&#8221; I never thought of that!&#8221;</p>
<p>There&#8217;s something about the process of talking out loud with another person skilled in thought facilitation that generates insight, creativity and innovation that simply isn&#8217;t possible on one&#8217;s own.</p>
<p>A recent new client spent an afternoon with me sorting out the ideas in her head about the <a class="zem_slink" title="Business" rel="wikipedia" href="http://en.wikipedia.org/wiki/Business" target="_blank">business</a> she dreamed of launching.</p>
<p>To quote her, &#8220;<em>We’re caught in our own heads and world and thoughts. We need an outside agent to pull the ideas out.</em>&#8221;</p>
<p>As I evaluate what it is I consistently do that evokes the sparking of new ideas that provoke committed and inspired action, I&#8217;ve boiled it down to seven things.</p>
<p><strong>1) A proven process</strong><br />
Depending on the client&#8217;s goal, one or more of several processes are employed to guide the client toward the desired end result. Whether it&#8217;s defining the perfect market, evaluating your readiness for the venture or surveying the competitive landscape, you can&#8217;t just have a random, meandering conversation that goes nowhere.</p>
<p>Surely there must be flexibility in the system, but having a definitive track to start on, helps the process flow smoothly.</p>
<p><strong>2) Mirrored thought</strong><br />
Ideas when articulated become more clear. Even faulty thinking is identified more rapidly when expressed out loud.</p>
<p>Often just repeating what someone says makes them come to grips with it&#8217;s truth or fallacy.</p>
<p><strong>3) Shared observations and recommendations</strong><br />
Years of experience in banking, technology, marketing and management have generated a practical perspective and literally thousands of opinions <img src='http://lorettalovehuffblog.com/wp-includes/images/smilies/icon_smile.gif' alt=':-)' class='wp-smiley' />   on a variety of topics that can be invaluable to someone who isn&#8217;t quite sure how to proceed on their quest. Well-informed counsel can make life easier.</p>
<p><strong>4) Appropriate doubt</strong><br />
&#8220;Are you sure about that?&#8221;. Another client was about to take action that was fundamentally a good idea, but about to be implemented without appropriate research and advice. Questioning her encouraged her to seek other professional advice that equipped her with the proper strategies and approach to protect her investment in her business.</p>
<p>We are enamored with our own ideas. The intent here is not to rain on anyone&#8217;s parade, but to help avoid the pitfalls of certain decisions. By identifying potential risks in advance, plans can be made to minimize them or avert certain situations altogether.</p>
<p><strong>5) Support that evokes commitment</strong><br />
By the same token, we sometimes doubt our abilities. Belief in an idea and the person holding it will go a long way to building their confidence for making it happen. Think about it. When some has believed in you, didn&#8217;t you feel you could conquer the world?</p>
<p><strong>6) <a class="zem_slink" title="Action theory (philosophy)" rel="wikipedia" href="http://en.wikipedia.org/wiki/Action_theory_%28philosophy%29" target="_blank">Action</a> planning</strong><br />
All of the brilliant insights are of little use if not applied in the real world. Goals are accomplished one step at a time. Knowing what those steps are keeps you from procrastinating or wasting time flailing around on non-productive activities.</p>
<p><strong>7) Follow up and follow through</strong><br />
Most people are more likely to get something done if they&#8217;ve told someone else they will do a thing. When commitments are made and kept privately, there is too much temptation to let them slip or to replace them with some other activity.</p>
<p>Going public with your goals and reporting on your journey will help ensure that the journey actually happens. Getting support and coaching along the way, empowers the experience of accomplishment.<a href="http://lorettalovehuffblog.com/wp-content/uploads/2012/03/small-business-finance.gif"><img class="alignright size-medium wp-image-1428" title="small-business-finance" src="http://lorettalovehuffblog.com/wp-content/uploads/2012/03/small-business-finance-300x200.gif" alt="" width="300" height="200" /></a></p>
<p>&#8220;<em>I believe accountability makes magic happen. When we&#8217;re held accountable for making progress on our dreams, it opens the door to a life of purpose, fulfillment and prosperity.</em>&#8221; -Loretta Love Huff</p>
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		<title>Lush Business Growth Workshop</title>
		<link>http://lorettalovehuffblog.com/2011/11/lush-business-growth-workshop/</link>
		<comments>http://lorettalovehuffblog.com/2011/11/lush-business-growth-workshop/#comments</comments>
		<pubDate>Fri, 04 Nov 2011 14:09:49 +0000</pubDate>
		<dc:creator>LorettaLoveHuff</dc:creator>
				<category><![CDATA[Business planning]]></category>
		<category><![CDATA[Business planning process]]></category>
		<category><![CDATA[Business strategy]]></category>
		<category><![CDATA[Goal setting]]></category>
		<category><![CDATA[Lead generation]]></category>
		<category><![CDATA[Personal effectiveness]]></category>
		<category><![CDATA[Problem solving]]></category>
		<category><![CDATA[Productivity]]></category>
		<category><![CDATA[Sales and marketing]]></category>
		<category><![CDATA[Small business strategies]]></category>
		<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://lorettalovehuffblog.com/?p=1316</guid>
		<description><![CDATA[
			
				
			
		

Uncover the secret motivations that drive your ideal client&#8217;s decisions so  your marketing results in more sales
Identify the weak links in your business that are robbing you of your revenue
Expose the criteria that people use to make purchase decisions about what you offer.  Ignore this and your marketing will fall on deaf ears. Master this [...]]]></description>
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<p><iframe width="420" height="315" src="http://www.youtube.com/embed/ZatFe-Yymho" frameborder="0" allowfullscreen></iframe><br />
Uncover the secret motivations that drive your ideal client&#8217;s decisions so  your marketing results in more sales</p>
<p>Identify the weak links in your business that are robbing you of your revenue</p>
<p>Expose the criteria that people use to make purchase decisions about what you offer.  Ignore this and your marketing will fall on deaf ears. Master this and business will flock to you.</p>
<p>Distinguish specific opportunities your business is facing that could mean a dramatic increase in profits for your firm</p>
<p>Evaluate your current revenue streams and determine which ones are primed to produce even more in the future.</p>
<p>Brainstorm on potential NEW revenue streams you can create easily without doing a ton more work</p>
<p>Evaluate your current sales channels and marketing strategies to make sure you&#8217;re capitalizing on what&#8217;s right in front of you</p>
<p>Create concrete goals and strategies for their fulfillment to accelerate your success</p>
<p>Calendaring templates to make mapping out your marketing plan simple and easy</p>
<p>Get details <a href="http://emeraldharvest.com/lushbusinessgrowth-ws.htm">http://emeraldharvest.com/lushbusinessgrowth-ws.htm</a></p>
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		<title>Skilled questioning, not pressuring, generates more sales</title>
		<link>http://lorettalovehuffblog.com/2011/10/skilled-questioning-not-pressuring-generates-more-sales/</link>
		<comments>http://lorettalovehuffblog.com/2011/10/skilled-questioning-not-pressuring-generates-more-sales/#comments</comments>
		<pubDate>Wed, 19 Oct 2011 19:18:44 +0000</pubDate>
		<dc:creator>LorettaLoveHuff</dc:creator>
				<category><![CDATA[Business strategy]]></category>
		<category><![CDATA[Sales and marketing]]></category>
		<category><![CDATA[Small business strategies]]></category>

		<guid isPermaLink="false">http://lorettalovehuffblog.com/?p=1291</guid>
		<description><![CDATA[
			
				
			
		
I attended a festival recently and visited a jewelry booth while I was there. (Jewelry, photography and pottery are my favs!)
The jewelry designer was a talented, but modest woman. Her sister, on the other hand, was quite the promoter.
She engaged me in conversation immediately. She asked me question after question while showing me different pieces [...]]]></description>
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<p>I attended a festival recently and visited a jewelry booth while I was there. (Jewelry, photography and pottery are my favs!)</p>
<p>The jewelry designer was a talented, but modest woman. Her sister, on the other hand, was quite the promoter.</p>
<p>She engaged me in conversation immediately. She asked me question after question while showing me different pieces of jewelry. I definitely knew she was aiming to make a sale but didn&#8217;t feel pressured by her activities and comments.</p>
<p>If you struggle to &#8216;close&#8217; the deal too often, it&#8217;s likely you&#8217;re doing something in the process that is preventing the other person from stepping forward to take advantage of your offer.</p>
<p><a href="http://lorettalovehuffblog.com/wp-content/uploads/2011/10/saleswoman.jpg"><img class="alignleft size-thumbnail wp-image-1295" title="saleswoman" src="http://lorettalovehuffblog.com/wp-content/uploads/2011/10/saleswoman-150x150.jpg" alt="" width="150" height="150" /></a>What is it that has some people be great at <a class="zem_slink" title="Sales" rel="wikipedia" href="http://en.wikipedia.org/wiki/Sales">sales</a> while others struggle?</p>
<p>Here&#8217;s what I learned from this sister-promoter that could help you improve your <a class="zem_slink" title="Close-ratio transmission" rel="wikipedia" href="http://en.wikipedia.org/wiki/Close-ratio_transmission">close ratio</a>.</p>
<p>One of the biggest mistakes people make in sales is talking too much. They are uncomfortable with silence and erroneously think they are &#8216;controlling the process&#8217; by talking all of the time.</p>
<p>One of the biggest lessons I learned from my first sales coach is &#8220;People love to buy. They hate being sold.&#8221;</p>
<p>Armed with that info, here are some of the things the Sister-Promoter did that ended up with me buying a trinket from the designer plus a few more choice tips that should help you increase your sales.</p>
<p><strong>1. Ask pointed questions</strong><br />
Your aim is to get the other person talking. You&#8217;ll learn more and they&#8217;ll be more invested in the conversation. People won&#8217;t walk away from you or hang up on you when <em>they&#8217;re </em>talking!</p>
<p><strong>2. Ask <a class="zem_slink" title="Closed-ended question" rel="wikipedia" href="http://en.wikipedia.org/wiki/Closed-ended_question">open ended questions</a> mixed with closed ended questions.</strong><br />
Open ended questions (How, What, Where) reveal info to guide your inquiry. They also get the other person thinking. Closed ended (<em>Do/Have/Would</em>) questions get people to some decision point and allow progress toward the end goal to get made.</p>
<p><strong>3. Ask questions about the future</strong><br />
Get people to imagine a future with your or your product. Hypothetical questions suspend reality and allow your prospect to dream about the future they want and what it would be like to get their with your support. (<em>Imagine/What if/Suppose</em>)</p>
<p>I&#8217;ve learned another important sales lesson from Sharla Jacobs. She said &#8220;Your job is to ask great questions until your prospect convinces themselves, they have to work with you.&#8221;</p>
<p>When you can skillfully guide your prospects through that process so that they arrive at the conclusion, they have to have you, on their own, your sales will increase and both parties will leave the conversation happy and inspired.</p>
<h6 class="zemanta-related-title" style="font-size: 1em;">Related articles</h6>
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<li class="zemanta-article-ul-li"><a href="http://bettercloser.com/12-open-ended-sales-questions/">12 Open-ended Questions That Close Deals</a> (<a href="http://bettercloser.com" title="http://bettercloser.com" target="_blank">bettercloser.com</a>)</li>
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		<title>How to Attract Clients Who Will Pay You What You&#8217;re Worth</title>
		<link>http://lorettalovehuffblog.com/2011/07/how-to-attract-clients-who-will-pay-you-what-youre-worth/</link>
		<comments>http://lorettalovehuffblog.com/2011/07/how-to-attract-clients-who-will-pay-you-what-youre-worth/#comments</comments>
		<pubDate>Mon, 11 Jul 2011 22:23:39 +0000</pubDate>
		<dc:creator>LorettaLoveHuff</dc:creator>
				<category><![CDATA[Branding]]></category>
		<category><![CDATA[Business strategy]]></category>
		<category><![CDATA[Lead generation]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Sales and marketing]]></category>
		<category><![CDATA[Small business strategies]]></category>
		<category><![CDATA[business development tactics]]></category>
		<category><![CDATA[marketing strategy]]></category>

		<guid isPermaLink="false">http://lorettalovehuffblog.com/?p=1175</guid>
		<description><![CDATA[
			
				
			
		
Many business owners scrape by serving clients who are struggling themselves.  In spite of the economy, there are many businesses and people who have been unaffected and are willing to pay for premium-level services and products.
When you’re trapped servicing the middle or low-price market (which, let’s face it) much of the country is these days, [...]]]></description>
			<content:encoded><![CDATA[<div class="tweetmeme_button" style="float: left; margin-right: 10px;">
			<a href="http://api.tweetmeme.com/share?url=http%3A%2F%2Florettalovehuffblog.com%2F2011%2F07%2Fhow-to-attract-clients-who-will-pay-you-what-youre-worth%2F"><br />
				<img src="http://api.tweetmeme.com/imagebutton.gif&amp;source=http%3A%2F%2Florettalovehuffblog.com&amp;style=normal&amp;b=2" height="61" width="50" /><br />
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<p><a href="http://lorettalovehuffblog.com/wp-content/uploads/2011/07/chinese_wealth.jpg"><img class="alignright size-thumbnail wp-image-1178" title="chinese_wealth" src="http://lorettalovehuffblog.com/wp-content/uploads/2011/07/chinese_wealth-150x150.jpg" alt="" width="150" height="150" /></a>Many business owners scrape by serving clients who are struggling themselves.  In spite of the economy, there are many businesses and people who have been unaffected and are willing to pay for premium-level services and products.</p>
<p>When you’re trapped servicing the middle or low-price market (which, let’s face it) much of the country is these days, you encounter a ton of hairy-pulling, teeth-gnashing concerns like:</p>
<p>1.    People don’t buy from you because they can find what you offer at a lower price somewhere else<br />
2.    People don’t buy at all because putting up with their problem is easier than forking over money to solve it<br />
3.    Your bank account is scarily low leaving you worried, anxious and maybe even a tad desperate.</p>
<p>You get the picture.</p>
<p>So, well-heeled clients sound like the answer to your prayers, right?</p>
<p>The challenge to landing those clients however is  (at least) three-fold:</p>
<p>1.    You don’t know exactly who is looking for what you have to offer<br />
2.    You don’t know how to find or attract them<br />
3.    You don’t have anything to offer them that they’re truly interested in</p>
<p>So what’s a busy business owner to do?</p>
<p>There are several ways to overcome these problems.</p>
<p>In dire times businesses try to offer everything to everybody. That’s exactly the wrong strategy.  And here’s why.  When you market to everyone, your ‘target’ won’t feel special.  She won’t believe you have a solution that addresses her needs so she keeps looking until she finds it and it likely won’t be with you.</p>
<p>I recently went into a shoe repair shop (a dying breed, admittedly) but they were selling children’s toys and household tchotchkes that didn’t even look like they belonged in the shop.  Perhaps they were selling well, but frankly, I’d be surprised.</p>
<p>The solution is to <strong>focus on a small set of specific clients</strong> and do everything you can to <strong>understand them</strong>, their worries, pains, dreams, hopes and desires.</p>
<p>Once you know who they are, ask yourself, how are they spending their time? W<strong>hat do they read, listen to or go to?</strong></p>
<p>Are they attending networking meetings? If so, which ones? Most networking events are populated with people hungry for business not necessarily looking to invest in solutions.</p>
<p>Think about it. When you need to buy something, do you go to an event to buy it? Probably not. You might go and ask people you trust for recommendations, but if you found exactly what you were looking for, I’ll bet you’d be a little bit surprised.</p>
<p>So you have to get visible where your market is looking. That could be online, on their smart phone, in industry-specific or niche publications (although that can be expensive).</p>
<p>If they’re suffering with a big problem, they may have complained to their friends and colleagues. So developing a referral strategy with the right people could be really productive.</p>
<p>Then, once you’ve found them (or they’ve found you), you must <strong>make sure your marketing message hits them directly between the eyes</strong>.  You have to be so clear about how what you’re offering is exactly what they need that they go “Duh! It would be a mistake NOT to invest in that.”</p>
<p>Again, this underscores the importance of knowing who really needs what you have so when they hear our message, they say “S/he’s talking to <strong>me</strong>!”</p>
<p>I remember participating in an event and one of the attendees remarked<em> “I felt like the speaker was inside my head saying out loud what I had only thought in the privacy of my own brain!”</em> That’s what you’re going for!</p>
<p>So, when you know who they are, what they’re gnashing their teeth over and have a solution aimed directly at pain (or dream) with a message that feels like it’s directly personally to them, the right people will refer you, find you and happily pay you for your expertise!</p>
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		<title>Why You Must Narrow-Cast to a Tight Target Market</title>
		<link>http://lorettalovehuffblog.com/2011/06/why-you-must-narrow-cast-to-tight-target-market/</link>
		<comments>http://lorettalovehuffblog.com/2011/06/why-you-must-narrow-cast-to-tight-target-market/#comments</comments>
		<pubDate>Thu, 02 Jun 2011 03:46:35 +0000</pubDate>
		<dc:creator>LorettaLoveHuff</dc:creator>
				<category><![CDATA[Branding]]></category>
		<category><![CDATA[Marketing]]></category>
		<category><![CDATA[Sales and marketing]]></category>
		<category><![CDATA[Small business strategies]]></category>

		<guid isPermaLink="false">http://lorettalovehuffblog.com/?p=1137</guid>
		<description><![CDATA[
			
				
			
		
Many people are afraid to declare a target market for fear of missing out on a potential sale outside of that market. The irony is that when you claim a specific market (or even several), your revenue and profit potential actually increase.
&#8220;Why is that?&#8221;, you may ask.
Well, there are several reasons. Here are the top [...]]]></description>
			<content:encoded><![CDATA[<div class="tweetmeme_button" style="float: left; margin-right: 10px;">
			<a href="http://api.tweetmeme.com/share?url=http%3A%2F%2Florettalovehuffblog.com%2F2011%2F06%2Fwhy-you-must-narrow-cast-to-tight-target-market%2F"><br />
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<p><a href="http://lorettalovehuffblog.com/wp-content/uploads/2011/06/Your-Target-Market.jpg"><img class="alignleft size-thumbnail wp-image-1139" title="Your Target Market" src="http://lorettalovehuffblog.com/wp-content/uploads/2011/06/Your-Target-Market-150x150.jpg" alt="" width="138" height="138" /></a>Many people are afraid to declare a target market for fear of missing out on a potential sale outside of that market. The irony is that when you claim a specific market (or even several), your revenue and profit potential actually increase.</p>
<p>&#8220;Why is that?&#8221;, you may ask.</p>
<p>Well, there are several reasons. Here are the top 3.</p>
<p><strong>1. Clearer message to the market</strong><br />
If you haven&#8217;t take the time (or found the courage) to discern and decide exactly who you’re meant to serve, your marketing effectiveness will be weakened. If your 30-second commercial has the word “anybody” in it, you&#8217;re at risk.  Perhaps you could serve anybody, but from a tactical marketing perspective, when you get really specific, your message will become much more clear, helping you attract those perfect prospects to you much more easily.</p>
<p><strong>2. Referrals flow more easily to you </strong><br />
One of my clients is a Merrill Lynch financial advisor. In the very beginning of our coaching relationship, she was resistant to the idea of picking a target market. She was eager to build her book of business and anxious about bringing in money from anyone who was willing to talk with her.</p>
<p>She’s not alone. Many people are afraid that if they focus on just one specific market, that they will be leaving money on that table and turning away anyone else who might be a potential prospect.</p>
<p>Finally after a couple of conversations with this advisor, she came up with focusing on providing financial advising service to business owners, business executives, and divorcees.</p>
<p>She did it a bit reluctantly but in our very next call she reported, “I introduced myself with that line at a speed networking function I attended. When I said those words, I could actually see<br />
the wheels in people’s heads turning as they tried to figure out who they knew that fit those categories.”</p>
<p>It’s critical that you narrow your focus, even if you pick a handful (not a barrel full) of distinct groups.</p>
<p><strong>3. Marketing effectiveness increases</strong><a href="http://lorettalovehuffblog.com/wp-content/uploads/2011/06/target-market2.jpg"><img class="alignright size-thumbnail wp-image-1140" title="target-market2" src="http://lorettalovehuffblog.com/wp-content/uploads/2011/06/target-market2-150x150.jpg" alt="" width="150" height="150" /></a><br />
When you can articulate clearly and specifically who you serve, you’ll be able to find them more easily thereby reducing your cost of acquisition. The products and services you deliver can be tailored to your clients&#8217; specific needs. The tailored copy you use to describe your services will be all the more specific and sound like music to your prospects ears.  The client attraction theory will finally start working for you.</p>
<p>So, reach down deep, find the courage you need and tighten up on your target market.</p>
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