Tag: Stuck Business Owners

CEOs Are Bullish About the Comeback of the Global Economy – Are You?

The comeback of the global economy is underway!  Don’t believe me?  Check out the PwC 24th Annual Global CEO Report.

Below are some highlights from the results of the PwC survey in which 5,050 CEOs participated in Jan. and Feb. of 2021:
  • 76% of surveyed CEOs are projecting that the global economy will improve in the next 12 months

If that seems bullish, it is…In fact, it’s the highest sense of optimism expressed in the survey over the past decade.  Moreover, it’s almost 20% higher than the previously recorded survey high.  CEOs are more optimistic than ever about a global economic comeback.

  • 36% expect to grow revenues in the next year
  • 47% assert they will increase revenues over the next three years

Evidently, there has been a clear recent uptick in CEOs’ confidence in their own company’s revenue projections.

 

COVID-19 and the ensuing shift to more of a remote operating model definitely propelled digital investments and projects in 2020.  That trend will only continue.

Speaking of trends, while revenue potential has rebounded for many, is this sentiment shared across the board?

Clearly not, as the technology sector has thrived and is well-positioned for growth, while hospitality, leisure, transportation, and logistics, have more ground to make up due to prior lockdowns and ongoing restrictions in certain regions.  Bear in mind the GDP did contract 3.5% in 2020, which is significant since it had not performed so poorly since the Great Depression!

As a small business owner, how do you feel about the current and future economic and business environment?

If you are not yet as optimistic as many of the larger CEOs in the PwC survey, why is that and what’s your next move?

RevSherpas is committed to helping small businesses refocus, recover, regrow, and revitalize their lost revenues and profits from 2020 due to the pandemic.  Our business breakthrough strategies are designed to enable you to outperform in any economy.

CONTACT US to schedule your free business health diagnostic and profit acceleration plan and strategic roadmap. With the economic bounce back and recovery clearly underway, don’t get left behind!

Revealed! How and Why to Improve Employee Engagement in Your Workplace!

It’s been a full year for a lot of us working from home. In the beginning, it was all new and exciting and unusual, and we weren’t sure what to make of it. But a year later? Many of us are worn out by the dual-duty that we’ve been doing, especially if we have kids or other family members at home with us. And it can be hard to keep working without connecting in person with your co-workers. There were lunches and meetings and other times to look forward to.

Unfortunately, that’s led to a reduction in engagement, and employees who are not as engaged are not as productive or loyal. Even before the pandemic, only about one-third of employees described themselves as engaged. But companies with engaged employees have a better per-share price than their competitors. What can you do about it and why should you care? This graphic from Ten Spot explains it.

What Does Employee Engagement Look Like in the New Normal Workplace?

Stop letting disengaged employees and high turnover impede your company’s progress and performance!

CONTACT US to learn how the management consulting services of RevSherpas can transform your culture and increase employee engagement and staff productivity so you can better serve the demanding needs of your growing client base and execute change and your backlog of strategic initiatives at a much faster rate.

Is Your Target Customer Crystal Clear?

The purpose of today’s blog is to expound upon why it’s so important for your business to clearly identify your target customer, and how it will enable you to build the business you’ve always dreamed of having.

Image by QuinceCreative via Pixabay

Your target customer is the customer who shares your passion for your product or service. These are customers who want what you offer… instead of just need what you offer. They don’t just use your product or service, they love it. They don’t just purchase what you sell; they actually feel they couldn’t live without it.

Your target customer will result in fewer returns and complaints. They’re thrilled with you and your business. They buy from you today, and they’ll keep buying from you tomorrow. They’ll demand you create additional products and services for them to buy… since they trust you and know you have their best interests at heart. They’ll tell their friends and family all about you and encourage them to do business with you.

Perhaps best of all, they’ll spend more money with you over their lifetime than your average customer will. Your target customers will provide your business with tons of referrals… and they’ll offer you unsolicited testimonials. They’ll post their praise about you and your business on social networking sites… which garners you free publicity.

When you identify your target customer, you find yourself loving what you do. The end result is you begin to work less and start earning more—a lot more. This exponentially impacts your business long term. It positively impacts all future products or services you develop. It impacts the customer service that your clients receive. Plus, it impacts all of your marketing and sales efforts, especially when you begin to develop your marketing materials and sales scripts.

In closing, knowing and understanding exactly who your target market and target customer are plays a vital role in building a successful business.

For even more proven small business marketing and sale tips and insights, be sure to also connect and stay in touch with us on LinkedIn and Twitter.

The Key Missing Ingredient in Your Marketing Messaging

Every business needs what is known as a “USP.” That stands for Unique Selling Proposition and it represents the single biggest benefit your business offers that your competition doesn’t. If you don’t have a USP, or you don’t articulate the one you do have, then you’re lucky if you get any business at all.

In fact, most businesses don’t communicate ANY benefits that differentiate themselves from their competitors. This is a HUGE mistake when they attempt any sort of marketing! When they’re trying to attract new customers, by not stating their distinctive advantage, they’re indirectly saying, “Give me your business instead of to my competitors, even though I have nothing special to offer you.” Why would businesses do that? If you cannot give your prospects a better reason to buy from you, they’re likely not going to transfer their business over to you.

Once you create your USP, it becomes the centerpiece for all of your marketing initiatives. It helps you stay passionate and focused on the objectives of your business, and, in the process, separates you from all others in your industry. When you can identify your target customers, understand how they think before they think it, create a compelling message that resonates with them on an emotional level, and compels them to take a specific action, you will be able to instantly increase the number of leads you attract to your business. And not just any leads, but highly qualified leads ready to buy what you sell.

You will attract these targeted prospects in droves, and begin to make more money than ever before. And maybe best of all, you’ll work fewer hours in the process. This is how you work smarter, not harder!  Now, I bet the lightbulbs are really going off and I have your complete, undivided attention, right?

Image by mohamed Hassan from Pixabay

The great thing about creating compelling messages is they come with a host of benefits for your business. It communicates to your target customer exactly what you do, and how you do it, in a highly enticing and more relatable way. Your message now emphasizes the benefits of your product or service instead of its features. Plus, your message now resonates with your prospects on an emotional level. And you immediately begin to attract highly qualified leads that convert easily into new customers who remain loyal to you FOREVER.

So what are you and your business known for? What makes your business and your products/services unique? Please share in the comments.

Lastly, and as always, please CONTACT US if you would like to have an exploratory chat on how we can help you devise or refine your USP and transform and turnaround your underperforming and copy-cat marketing messaging.

The Three Most Important Business Fundamentals to Thrive

“Forget about the crowds, the size of the school, their fancy uniforms, and remember what got you here. Focus on the fundamentals that we’ve gone over time and time again.”  – “Hoosiers” Coach Norman Dale played by Gene Hackman.

In the small business arena, there are three fundamentals every business MUST have in place to not only survive but also THRIVE.

First, your business must stand out from the crowd, and it must be “unique.” You MUST establish an all-important market-dominating position.

Second, your business must offer extraordinary and exceptional value. Your prospects, no matter who they are or what they’re buying, always want the best deal. However, that doesn’t mean the lowest price.  Again, that doesn’t mean the lowest price.  Rather, it means the most value for the price they pay. That is, they will gladly pay a higher price, as long as the perceived value is greater than the price. The keywords here, of course, are “perceived value.”

The third and final fundamental may be the most important of the three. You must have a compelling message that confidently communicates the first two fundamentals. You must be able to explain to someone quickly and succinctly what it is you do, and how your product or service will benefit them.

With these three fundamentals firmly in place, you instantly separate your business from your competition and immediately position yourself as the dominant player in your market. Your prospects will literally be thinking to themselves that they would be absolute fools if they bought your product or service from anyone else but you. These three fundamentals are absolutely crucial when you need to generate more leads, attract more clients, and make more money.

Is your business fundamentally sound and predicated upon these core business-building principles?

If not, and you’re serious about recovering, regrowing, and revitalizing your small business, please CONTACT US to schedule an initial strategy consultation.

It’s your time!  Focus on the fundamentals and reach new heights TODAY!

 

What Every Entrepreneur Ought to Know About Mindset Mastery

As a kid growing up in Atlanta, I was a huge fan of the baseball team, the Atlanta Braves.  One of my childhood heroes was former Hall of Fame pitcher and current FOX and MLB Network announcer, John Smoltz.  Even though Smoltz was one of the best post-season pitchers of all-time and one of the few to dominate as both a starting pitcher and closer, he did experience some ups and downs early on in his career.

It turns out a pivotal moment in his turnaround was to partner with a sports psychologist to make some mental adjustments to boost his confidence and improve his consistency, mental toughness, and, ultimately, his overall performance.

 

“When you start having doubt, you start creating an atmosphere of ‘things are going to go wrong,’ and they will… If you say ‘don’t hang a slider’ or ‘don’t leave this pitch (up),’ … you start having negative thoughts, and those negative thoughts become positive reinforcement for what you don’t want to do.”

John Smoltz

 

 

Sticking with the theme of mindset mastery, I recently read an excellent leadership development article from Michael Hyatt entitled “Want an Abundant Life? Change Your Thinking.”  In the piece, Hyatt illuminates the difference between “abundance thinkers” and “scarcity thinkers.”

Generally speaking, those constantly driven by fear of failure, doubt, or discord fall into the scarcity category.  On the other hand, abundance thinkers prioritize, attract, and attain success, happiness, and fulfillment. As you might imagine, they really are polar opposites.

Which of these philosophies describe you and how you run your business operations?

To further distinguish between the two lines of thinking, Hyatt shares some more examples, which I have categorized and summarized for you below.  Whether you’re an aspiring entrepreneur, early-stage entrepreneur, struggling solopreneur, veteran business owner, or first-time executive, I’d encourage you to review this breakdown to see how you stack up.

  • GROWTH MINDSET 
    • Abundance thinkers:  Think and go big, embrace risk, and believe there’s always more
    • Scarcity thinkers:  Think small, lack vision, typically play it safe, and feel there will never be enough.
  • COLLABORATION and GENEROSITY
    • Abundance Thinkers:  Openly and proactively share their knowledge, contacts, and compassion with others.
    • Scarcity Thinkers:  Guarded and very stingy with providing knowledge transfer, introductions, and support.
  • RELATIONSHIP BUILDING
    • Abundance Thinkers:  Highly trusting and easily cultivate rapport.
    • Scarcity Thinkers:  Highly suspicious and inept at rapport building.
  • COMPETITIVE SPIRIT
    • Abundance Thinkers:  Embrace competition and feel they get better and benefit from a bigger pie.
    • Scarcity Thinkers:  Fear competition and think they will suffer from a smaller pie.
  • DRIVE AND COMMITMENT
    • Abundance Thinkers:  Go above and beyond and always overdeliver.
    • Scarcity Thinkers:  Tend to take shortcuts, don’t work hard, and do just enough to get by.
  • ATTITUDE
    • Abundance Thinkers:  Confident, but grounded and thankful…upbeat and optimistic about the future.
    • Scarcity Thinkers:  Fearful, entitled, and pessimistic about what lies ahead.

How’d you make out?  Are your core belief systems and values limiting you and your business?

Everyone always claims they are striving for growth in their business and personal lives, but are they really?  Are you?  If not, what are you going to do about it and make it happen?

I hope you can relate to more or all of the attributes of the abundance thinkers.  If that is not the case, you at least now have a starting point on where you are and what mindset adjustments you need to make to get where you want to go.

If you found this blog helpful or you have other suggested topics for us to cover, please let us know in the comments below.

Lastly, if you’d like to receive more tips and tricks on how to master your mindset, be more productive, and enhance your leadership skills, be sure to check out our RevSherpas Facebook company page.  There, in a less stuffy kind of way, you’ll get to learn from the best of the best, not just in the world of business, but also in sports, entertainment, and the motivational personal development space.