I was speaking today with the head of a communications firm who has been growing her business every year for the past several years and now her revenue has plummeted. Here is why: all her clients were in the real estate development industry: that industry that has also plummeted. The question is clear- I ask it of you: Are you serving only one industry?  Is that industry suffering? Is it time to diversify your client portfolio?

I do agree with the idea of going deep in a niche, or becoming a big expert in a small pond. However, perhaps it is time to rethink the basic premise of creating a niche and instead ask if it is time to start a second niche or a second specialty. For example, if your firm provides high- end catering perhaps it is time to build a box lunch business, if your firm specializes in professional organizing for people working from home, perhaps it is time to add professional organizing for small offices.

Here is one of my big secrets- I have 3 business cards- the business is the same, business coaching, consulting and speaking, however the niches are different. It may be time for you to get a second or third card. Is it more work? Yes. Does it cost more to market to two niches? Yes.  Is it more profitable? Absolutely, and more importantly, it makes your business less vulnerable. Our world is changing ever faster, business is changing ever faster. One of the ways to ensure your business remains stable is to diversify. Let me know your thoughts.

Here it is- you can not get by on marketing alone, you have to sell more than you have been doing in the past and probably more than you are used to.

Your Fortune Is In Your Follow Up

If you are an entrepreneur on top of your marketing, you have a great website with valuable content that you keep updated, you regularly get out your newsletters and you love to go networking and connect with people face to face. Recognize these are all great marketing activities and they are not sales.

To have a successful, profitable and sustainable business, you must recognize that there is a huge difference between sales and marketing—and right now is the time to increase your attention on selling.

Know The Difference

Marketing activities are those things that you do to get the word out, create exposure, introduce your product or service to people. Sending out an email announcement, sending out postcards about a special offer, participating in a trade show or advertising are all marketing activities.

When you follow up with a phone call and ask someone if they saw this month’s special you sent out and would they like to take advantage of this great offer- now that is selling. When you ask someone at an event if they have heard about your company-that is marketing, if you ask them if they would like to hear more about what your company can do for them and you sit down with them to have an conversation about how you can help them now that is selling.

Selling is asking for the appointment, the order, or the contract. Marketing are all those activities you do to find people or companies to sell to. Make sure you understand the distinction. Marketing activities are a lot easier and sometimes a lot more fun like when you go out networking and meet so many fabulous people.

I encourage you to evaluate if you are doing more sales or more marketing these days and I want to you to check in with yourself and ask you if you are mostly marketing. While marketing is great and sometimes you can get clients and sales from just sending out emails, you can significantly increase your sales if you start picking up the phone and asking for the business. Up your sales activities this week and let me know how it goes.

Paying Attention to Your Self-talk
Everything you say to yourself either serves you or sabotages you. Do you tell yourself you can do it, do you tell yourself you deserve it or do you tell yourself something different, something less supportive? Turn those thoughts around and replace them with positive self talk. Positive thoughts add vitality to your body- negative thoughts deplete your vitality- it is the physiological truth.

Take Time at the End of Each Day to Plan for The Next Day
Take 15 minutes to clear your desk and make a list of the top three-five things you need to get done tomorrow. Then once you get those done, you can go back and pick five more. The truth is our brains can’t handle more than a few main things at a time.

Focus on One Thing at a Time
Work on one project, one set of phone calls, one proposal, at a time. It is more productive. Ignore all those emails coming in and get that proposal done and out the door, or make those follow-up/check-in calls you have been putting off. Then move on to the next most important thing. Yes, I know we all (especially women) like to think that we can dance with the myriad of tasks on our voluminous To Do List.  The truth is, we can get a lot more done by focusing on one thing at a time. Also, you will be surprised at how much less time that big project will take when you put your full attention on it.

And lastly, laugh and have a little fun every day. Life it to enjoy.

Feel free to post a question in the comments area and I will do my best to respond in a future blog entry. Also, let me know what you think about the above ideas.

The most ever. The 700 billion dollar bailout has failed and it is a bright sunny day here is San Francisco.

The point is, no matter how bright your personal business outlook, the economic outlook in the U. S. is a gloomy as it has ever been in most of our lifetimes. Realize that even if businesses or individuals are well in the black, they will now be more fiscally conservative and ponder each spending decision more because of the less than booming future on the horizon.

What are you going to do about it for you and your business?

I have some ideas – starting with NOT hunkering down and putting your nose to the grindstone. That’s right! Instead of putting your attention on you and what your business needs, start by putting your attention on your customers and clients.

Let them know you feel their pain. Let them know you are aware things are challenging and you are here for them.

Ask yourself what you can do to make their lives easier? Here are some ideas to consider:

First and foremost get connected to them. Reach out – ask people how they are doing and what you can do to help. I mean contact them via phone or in person. Start with an authentic connection.

Then reach out via email sending them a special coupon or discount. Let them know you feel their pain.

Hold a special event in person or over a conference line. In challenging times people like to get connected. Facilitate that happening.

Strengthen your strategic alliance partnerships. Find more people who have the same ideal client as you yet provide a different product or service, and do more cross-promotional marketing.

There are more ideas in the articles and teleseminar recordings on my website – start there and get connected. You have an opportunity to show that you genuinely care about your clients and prospects. Action now will support you in having a profitable and sustainable business for years to come.