Category: Small Business

How to Run a Successful Small Business

How to Run a Successful Small Business

Whether big or small, running a successful business today isn’t easy; you have to be adaptable to dynamic and constantly changing industries, flexible, be good at planning, organizing, researching, and much more.

On the one hand, technological advancements and social media platforms have given us tools to market and grow our businesses, but on the other hand, these tools and platforms have also increased our competition and opened doors to global markets and rivals, making it challenging for many small businesses to survive and thrive.

However, don’t be discouraged, there are still many ways to grow your small business and watch it succeed. In this blog, we’ll break down some essential tips you need to follow in order to be successful in your venture.

Start with organizing

Being organized and staying on top of all the tasks and things you need to do is essential when it comes to running a successful business. Try to keep a checklist of all your daily tasks, ensuring you’re able to remember and complete each one of them.

The things and tasks you get done with, check them off the list. Doing so, will not only ensure all your tasks are completed on time but also make you feel productive and confident in your abilities.

Keep detailed records of all your activities and transactions

One of the many reasons small businesses tend to fail is generally their lack of record keeping. The owners don’t know or remember how much they owe to their vendors and creditors, creating a lot of unnecessary stress.

Keeping detailed records of all your activities and transactions will show you where you and your business stand, financially and also enable you to keep track of your cash inflows and outflows.

Research your competition

Need advertising or marketing inspiration? Or want to learn how well your business is doing in the industry? Research and analyze your competition. It’ll help you breed better results and make room for improvements.

You can learn new strategies and tactics from your rivals, implement them in your business and wait for all the sweet cash to start rolling in. But remember there’s a fine line between being inspired and straight-up copying when it comes to marketing and advertising campaigns.

small business market research

Consistent is key

As a small business owner, you’ll witness many highs and lows. Somedays, your business will generate many leads, boosting your sales and profits, significantly.

Other days, work will be slow but don’t be disheartened. Staying consistent with your strategies and work is crucial if you want your small business to soar to new heights.

Need help growing and running a successful small business? Stan Mann is here to help.

Based in Las Vegas, Nevada, Stan is a professional business coach and consultant. He has helped many businesses and firms find success, boost sales, generate new leads, and overcome their marketing issues. You can check out our products for courses on digital marketing, business growth, advertising, and much more.

For more information, feel free to reach out to us!

Marketing Secrets For Small Business Owners

Marketing Secrets For Small Business Owners

marketing team in a small business in Nevada

Most small business owners often assume marketing requires a massive budget that only large and mega-corporations can afford. However, that’s simply not true.

Whether big or small, you can use your creativity, marketing tools, and other innovative methods to get in touch with a wider target audience and market your business. Getting the word out about your products or services doesn’t have to burn a hole through your pocket. It just requires effective planning and adequate execution.

Continue reading “Marketing Secrets For Small Business Owners”

The Role of Marketing Planning in Business

The Role of Marketing Planning in Business

Marketing plan on a paper

As a business owner and entrepreneur, you want to ensure all aspects of your day-to-day operations run smoothly and effectively.

Planning everything can make the job easier and ensure you’re on track, focusing on your goals, attracting investors, and utilizing your resources as efficiently as possible. With a marketing plan in hand, you’re able to achieve all this and much more.

If you’re running a small business without a solid marketing plan, it’s time to rethink your strategy and start working on one. In this blog, we’ll break down the importance and benefits of a marketing plan and what a marketing plan is, so you can take advantage of everything it has to offer.

What is a marketing plan?

Before we dive into the plethora of benefits a marketing plan has to offer, let’s focus on what a marketing plan is. A marketing plan is a sort of blueprint that outlines your business’s strategies, tactics, future goals, mission, vision, and everything else in between.

With how important effective marketing has become, here are some benefits a viable marketing plan offers.

Provides you and your team with a clear point of focus

With day-to-day operations taking over your daily lives and schedule, it’s important to stay focused on the bigger picture and long-term goals. How do you expect yourself and your employees to do that if things are unclear and there is no concise direction?

Making a marketing plan ensures all business activities and daily operations align with the business and everything you’re hoping to achieve.

Enables you to plan, organize, and manage your resources effectively

When you don’t have an effective marketing plan in order, you’re more likely to lose track of your financial resources, fail to allocate a budget for all your necessities, and eventually run your business into the ground.

Having a marketing strategy and marketing plan in place at the very beginning of every year will ensure you’re able to plan, organize, and manage all your resources and get the most out of them.

 employees working on a rough marketing plan

It’ll ensure consistency and effective planning

Without a clear and concise marketing plan in place for your business, you won’t be able to stay consistent with your activities, projects, and marketing campaigns. Only with effective marketing campaigns, will you be able to generate leads, increase profits margins, and enjoy the fruits of your labor.

If you want to learn more about marketing strategies and marketing plans in Las Vegas, Nevada, check out our products.

At Stan Mann, we offer a plethora of services, including business consulting, professional business coaching, and expert marketing consulting services to help small businesses in Las Vegas, Nevada, maximize growth and find success.

For more information about our products and services, feel free to reach out to us!

5 Tips to Set You Apart From Business Competitors

5 Tips to Set You Apart From Business Competitors

While your marketing strategies, professional team, and extensive business plans may set you up for success, they might not set you apart from the crowd!

If you’re in the game to make more revenue and build a long-term reputation, this post is just for you!

While your marketing strategies, professional team, and extensive business plans may set you up for success, they might not set you apart from the crowd!

If you’re in the game to make more revenue and build a long-term reputation, this post is just for you!

We share some simple and practical ways that will set you apart from your competitors and make you emerge as a leading and reliable brand in no time.

Go the Entrepreneurial Route

Even if you have made it past the startup days, we recommend that you never let go of the entrepreneurial culture at your workspace. While a business should always strive to become structured, sticking to the basic culture will ensure that your employees continue to interact, innovate, and create.

Business giants such as Google and Facebook have adopted the entrepreneurial culture where employees and their suggestions are valued, welcomed, and heard, and incorporated into the company’s future operational and performance goals.

Tap into New Opportunities

Tried and tested advice would be to stick to a niche and come up with a product that has a wide market. However, oftentimes, businesses and entrepreneurs go off the route and innovate products that revolutionize their markets. For instance, Steve Jobs envisioned a future where everybody had access to quick communication and information.

While his competitors might have deemed it a research and resource-intensive investment, Jobs went ahead with the idea and helped humans tap into a technologically forward era. 

Businesses must keep an eye on new opportunities and leverage them to create products or services that will change the face of their industry!

Shake Things Up a Bit

Reinventing is the key to staying relevant in business!

While churning out the same products over and over again will guarantee a steady cash inflow, it might harm you in the long run! Mobile companies such as Nokia never anticipated the groundbreaking technology that iPhone or even Samsung could offer in the future.

 

We share some simple and practical ways that will set you apart from your competitors and make you emerge as a leading and reliable brand in no time. Go the Entrepreneurial Route Even if you have made it past the startup days, we recommend that you never let go of the entrepreneurial culture at your workspace. While a business should always strive to become structured, sticking to the basic culture will ensure that your employees continue to interact, innovate, and create. Business giants such as Google and Facebook have adopted the entrepreneurial culture where employees and their suggestions are valued, welcomed, and heard, and incorporated into the company’s future operational and performance goals. Tap into New Opportunities Tried and tested advice would be to stick to a niche and come up with a product that has a wide market. However, oftentimes, businesses and entrepreneurs go off the route and innovate products that revolutionize their markets. For instance, Steve Jobs envisioned a future where everybody had access to quick communication and information. While his competitors might have deemed it a research and resource-intensive investment, Jobs went ahead with the idea and helped humans tap into a technologically forward era. Businesses must keep an eye on new opportunities and leverage them to create products or services that will change the face of their industry! Shake Things Up a Bit Reinventing is the key to staying relevant in business! While churning out the same products over and over again will guarantee a steady cash inflow, it might harm you in the long run! Mobile companies such as Nokia never anticipated the groundbreaking technology that iPhone or even Samsung could offer in the future.

It’s crucial that businesses continue to invest in their R&D sectors, understand the ever-evolving consumer needs and trends, and reinvent themselves accordingly.

Give Back to Society

Companies that give back to society, always stay in the game!

To stay ahead of the game and stand out from the crowd, it’s necessary that your business reaches out to the underprivileged section of society and give back in whatever way you can.

Companies like Airbnb work with homeless people that were displaced due to natural disasters or conflicts and accommodates them through their Open Homes Campaign.

This assures your target audience of your good standing, intentions, and credibility.

Reach out to Master Coach Stan to Devise a Failproof Marketing Strategy

Businesses that are looking to take their marketing game to new heights can get in touch with our team at Master Coach Stan. Stan Mann is a marketing expert who has decades’ worth of experience in guiding small businesses and help them achieve their financial goals.

Get in touch with us to learn more about our marketing consultancy services and our E-Learning Marketing system.

5 Neglected Factors to Help Elevate Your Online Business

5 Neglected Factors to Help Elevate Your Online Business

Brick and Mortar businesses might not focus much on improving their online marketing game. However, the consistent lockdowns and recession require that brands take measures to elevate their online presence and generate more revenue.

Here are some tried and tested techniques that’ll ensure that your online business ranks higher on the SERPs and gets paying customers in no time!

Focus More on Local SEO

Local SEO might bring in low traffic; however, this low traffic has a higher conversion rate. By leveraging the local SEO keywords, you’re likely to direct more local traffic to your website and result in more cashable clicks!

Look up keywords that perfectly define your geographical location. Once you have got a list of high-ranking keywords, incorporate them in your content title, meta-descriptions, and H1 and H2 tags!

This will ensure that Google ranks you higher in your local search results and directs more traffic to your online website!

Work on Improving Local Search Optimization

If you want to improve your local search results, we recommend that you begin by updating your Google My Business page. Verifying local Google listing and using Schema markup for your physical location, contact details, and business hours will ensure that local traffic comes rushing to your website.

Moreover, ensure that you add local SEO keywords into your content’s title, H1, H2 tags, and image alt-texts!

Maintain an Updated Testimonials Page

Over 97% of online consumers go through a business’s reviews and testimonials before making the final purchase. Moreover, testimonial pages can help generate 62% more revenue!

This ensures that they’re purchasing from a trusted seller and will get a bang for their buck.

 

person browsing through an online website

Ensure that you have a regularly maintained and functional testimonials page on your website and your social media accounts. Ask customers to leave honest reviews through text or visual mediums, so that new potential customers can gauge your credibility.

Optimize Your Website for Mobile Devices

Google loves mobile-friendly websites, which is why it’s one of the top-ranking factors for any online website!

Over 52% of website traffic is generated from cell phones. This is why you must take measures to optimize your website and make it mobile-friendly. Ensure that you place the right CTAs at the right location, have a highly responsive website, and add your contact details on your website’s landing pages.

This will ensure that any potential leads that browse through your website, actually make a purchase.

Short Videos Are the Way to Go

With the latest marketing trends emphasizing the importance of short videos and reels, you must consider creating short videos for your online business.

Since most social media users and online consumers have a short attention span, they’re more likely to view short videos. This is why Instagram has introduced IG reels that are only 15 sec long but deliver your message to the right target audience.

Ensure that you optimize your videos before releasing them on social media platforms such as YouTube, Instagram, or your website’s homepage.

If you’re looking for a marketing expert that offers practical, effective, and fail-proof marketing consultation, you have come to the right place!

With Master Coach Stan, clients can acquire our marketing consultancy services and enroll in our E-Learning Marketing system to generate more leads and revenue.

Get in touch with us to learn more about our marketing services.

 

6 Marketing Trends Shaping Up 2021

6 Marketing Trends Shaping Up 2021

Marketing trends are always evolving. What worked to create revenue in the first decade of this century might have become a thing of the past for the upcoming years.

We take a look at some incredible marketing trends that are here to shake things up for your business in 2021.

Adopting Automation

2020 brought along the use of marketing automation software. This automation allowed brands to create effective marketing strategies while spending fewer resources.

While most brands have hit their revenues goals and made enough resources, businesses plan on sticking to automation and marketing software to cut down on expenses and optimize their marketing game.

Marketing on LinkedIn

While marketing and selling on LinkedIn might not come across as the ‘it’ thing, it’s about to become one!

Marketing gurus all around the globe suggest that businesses and brands create their online presence on LinkedIn. Why? Because LinkedIn houses industry leaders and decision-makers that are likely to buy from you.

Brands must update their LinkedIn profiles to ensure that they are hunted for lucrative business transactions in 2021!

Influencer Marketing is Set to Witness a Boom

The rise of influencer marketing shows that people are willing to buy from brands that influencers recommend and trust.

Over 89% business recommend that ROIs from influencer marketing is better than investing in other marketing channels. This is why social media platforms such as Facebook, Instagram, and TikTok are likely to incentivize opportunities for influencers and help businesses generate limitless revenue streams through influencer marketing.

Enough with the Digital Ads

While some media groups are all about praising digital ads, other media groups think otherwise.

Some marketing gurus argue that since the audience has been bombarded with digital ads left, right, and center, people are tired of seeing these ads. Instead, a more interactive, outdoor marketing strategy is what appeals to most customers.

Businesses will need to experiment and strike the perfect balance between digital ads and outdoor marketing strategy to attract prospective clients to their brick and mortar or online stores. Direct Mail Is the Next Big Thing Consumers are staying at home and need a break from all kinds of digital ads. What better way to update them about your latest launch than to bombard them with direct mail! Direct Mail is set to make a comeback and it’s going to be big! While direct mail offers a 29% ROI currently, it’s likely to blow up as over 42% of consumers go through the direct mail that they receive. Brands need to work out more innovative direct mail marketing strategies that will turn these leads into paying converts. Consider Marketing through Instagram Reels What started as a photo-sharing app is now set to largely become a video-focused platform. Features such as IGTV and IG reels are expected to blow up. These 15-sec video clips are short and sweet and hit the right spot to convert leads. Make sure that your marketing team is creating content as releasing reels in 2021. With Instagram reels being the focus of the platform’s algorithm, these reels are sure to widen your reach! With Master Coach Stan, anyone can help you create seven-figure business revenue in the shortest time possible. Stan is a sales and marketing coach who has decades of experience, thousands of clients, and the world’s first E-Learning marketing system to his credit. Get in touch with us to learn more about our small business marketing consultancy today!

Businesses will need to experiment and strike the perfect balance between digital ads and outdoor marketing strategy to attract prospective clients to their brick and mortar or online stores.

Direct Mail Is the Next Big Thing

Consumers are staying at home and need a break from all kinds of digital ads. What better way to update them about your latest launch than to bombard them with direct mail!

Direct Mail is set to make a comeback and it’s going to be big! While direct mail offers a 29% ROI currently, it’s likely to blow up as over 42% of consumers go through the direct mail that they receive. Brands need to work out more innovative direct mail marketing strategies that will turn these leads into paying converts.

Consider Marketing through Instagram Reels

What started as a photo-sharing app is now set to largely become a video-focused platform. Features such as IGTV and IG reels are expected to blow up.

These 15-sec video clips are short and sweet and hit the right spot to convert leads. Make sure that your marketing team is creating content as releasing reels in 2021. With Instagram reels being the focus of the platform’s algorithm, these reels are sure to widen your reach!

 

With Master Coach Stan, anyone can help you create seven-figure business revenue in the shortest time possible. Stan is a sales and marketing coach who has decades of experience, thousands of clients, and the world’s first E-Learning marketing system to his credit.

Get in touch with us to learn more about our small business marketing consultancy today!

 

 

5 Common Business Misconceptions

5 Common Business Misconceptions

Thinking of kick starting a new business?

Before you delve deep in the business startup process,
ensure that you are safe from any business misconceptions that might hinder
your growth in the long run.

We have rounded up some of the most common business
misconceptions amongst new entrepreneurs. Take a look!

Financial Reports Aren’t For You

If you think that reviewing financial
reports
and statements isn’t part of your job, think again!

While outsourcing an accountant can help you keep a track of
your finances and books, it’s crucial that you know how to understand these
reports.

Knowing what balance sheets, cash flow statements, and
income statements mean will help you understand your business’s financial
health. Moreover, this knowledge will come in handy while making informed
decisions regarding the business.

Your Product Should Be Your Priority

While a groundbreaking innovation might propel you to start
a business, it might not have the right niche or market as you might think.

Millions of entrepreneurs have come up with innovative
ideas, only to see their business plans fail due to a lack of a thriving
market. Try to assess the market, invest in Research and Development, and study
demographics to better understand your audience.

Shifting your focus from your product toward the niche or
target audience will ensure that your business takes off in no time.

Business Plans Are a One Time Consideration

You might think that a business plan
might come in handy ONLY when you’re laying its foundations. However, business
plans are crucial to every step of the expansion process.

man reviewing business marketing strategy

Creating new financial and operational goals, setting time-frames, and devising strategies to achieve those goals will ensure that you’re ready to expand as a business. Whether you’re introducing a new product/service, expanding your operations, or merging with an industry leading corporation, an extensive business plan will act as a road map for your business.

You Can Run a One Man Show

EBay, Amazon, Urban Dictionary, and Todoist all have one thing in common – these were all one person startups at one point.

While this might tempt you to continue running your ‘one man show’, we recommend otherwise!

To take your business to the next level, you must invest by hiring different teams for your firm. You’ll likely need to work with sales, marketing, and finance teams to generate new leads and revenue.

Moreover, an accounting team can help review your financial statements, prepare taxes, and manage your books.

Hard Work Will Pay off Every Single Time

Sure, hard work and determination will take you places; however, the right opportunity is what will take things to the next level.

While hard work, dedication, and motivation will help you kick start your business, a golden opportunity is just what you need. By lowering risks, getting the right investments, and limiting operational costs, business owners can create the right opportunities to expand their business and operations.

Create Opportunities with a Sales and Marketing Coach

With Master Coach Stan, anyone can help you create seven-figure business revenue in the shortest time possible. Stan is a sales and marketing coach who has decades of experience, thousands of clients, and the world’s first E-Learning marketing system to his credit.

Get in touch with us to learn more about our small business marketing consultancy today!

Kick Start Your Marketing

Today I’d like to teach you about the three most important start up marketing tools you need to get and keep new customers.

  1. In person: It’s essential you meet with customers/clients in person whenever possible. This shows you respect them and take the time to work with your clients to give personal attention to each of them.
  2. Follow up letter: Always take a moment to send a follow up letter about what you talked about, new agreements or partnerships made and to thank them for taking the time to meet with you. Likewise, you should always send thank you letters or small gifts to partners you find success with.
  3. Phone call: Use a telephone call to follow up with them to talk again about the matters you talked about in your meeting and offer any assistance you can to help their business run smoothly and more successfully.

None of these will work if you don’t have a quality product/service to back you up!

Here are the key steps for putting together your start-up marketing tools:

  1. Research potential customers, buyers, competitors and their preferred methods of distribution.
  2. Talk to potential customers. Take a hard look at your product from a customer’s perspective and see what it needs to be successful.
  3. Follow up with your 3-step process from above.
  4. Develop systems for contact follow through, quality control standards and customer service.
  5. Develop post-sale follow up system to keep lines of communication open is customers and build on your current relationship which increases future purchases.

“Marketing and innovation produce results; all the rest are costs” Peter Drucker, management consultant

Here’s another one I love from an icon:

“If there is any one secret of success, it lies in the ability to get the other person’s point of view and see things from that person’s angle as well as from your own.” Henry Ford, Founder of Ford Motor Company

This lesson has offered you the tools to put together a start-up marketing plan that can be used over and over again to help your customer base and business grow in a manageable way.

Stop Wasting Your Resources!

Today you’re going to learn how to find a target market of potential customers so you aren’t wasting precious resources on blitz marketing. So, the two questions you have to ask yourself are:
  • What do people really want to buy from me?
  • What related products are they already buying?
Once you figure this out you will know who is more predisposed to purchase your products/services. Then, you find other businesses with the same customer base who you can customer share with. Come up with an incentive and great arrangement to encourage both of your customer bases to shop at both of your stores. The basic concept is this: You want to find existing businesses who have the customer profile that you are looking for to market your products/services to. Then strike up a relationship with those business owners to work out an incentive for customers to purchase from both businesses. As a result, you have an audience to market to and they generate an added value from their current base. So, how do you figure this out? There is a great formula from Jay Abraham you can follow with great success. LV = (P x F) x N – MC Here’s what it all means:
  • LV is the life time value of a customer
  • P is the average profit margin from each sale
  • F is the number of times a customer buys each year
  • N is the number of years customers stay with you
  • MC is the marketing cost per customer (total costs/number of customers)
Once you know how much you need to spend to attract a new customer, you will know how much of an incentive you can offer to a business to help attract new customers. So, here’s your step-by-step process:
  1. Find companies who already have the customer base you are looking for.
  2. Negotiate an incentive for them to share that customer base with you.
  3. Focus your marketing resources to this group of predisposed customers.
If you need help working through this process, please contact us and we’ll set you up with the most comprehensive system of marketing tools and resources.