Saturday, August 26, 2006

Making Liben a big firm??

What liben shld do to bcome a big firm:
  1. Set ambitious goals.
  2. Set the right priorities.
  3. Develop a strong strategic foundation.
  4. Build assets u can leverage.
  5. Take enormous, focused action.

Step 1: Set ambitious goals

What r ur revenue goals for this yr n nxt? What r ur goals for this quarter? If u dont hav specific goals, u're unlikely to achieve impressive results. Goal setting is not just a cliché or a technique used in tacky motivational speeches. If u want to achieve great things, u really do need to hav a specific vision abt where u wanna end up.

1stly, u needa hav confidence in urself. True entrepreneurs set ambitious goals without worrying abt their current resources to achieve those goals. Entrepreneurs figure out what they want to achieve first, n then set out to make it happen, even if current reality seems to be in the way.

So, what r ur most ambitious goals? Where do u want it to be next year?

Step 2: Get ur priorities straight

First, make development ur top priority.

The most creative firm in the world will make less money than a mediocre firm who invests faithfully in business development. Tts cos good marketers reach more prospects, identify solutions tt matter to them, n develop compelling marketing msgs tt influence prospects to respond.

Meanwhile, less successful firms almost always wait for the phone to ring. They know they hav a solid product to offer, n r frustrated tt prospects cant figure tt out. They wld rather b self-righteous than successful.

Second, view ur business as a professional practice.

Dont b vendors, jumping from gig to gig. Rather, seek to develop long-term relationships with ur client. Position urself as strategic advisors who help ur client succeed, not as mercenaries who bid on one job n then the nxt. N focus on getting specific results to help ur clients succeed, not on completing a set of tasks in a work plan. Who wld u rather hire -- a designer with a professional practice, or a vendor who completes projects?

Third, they focus on comprehensive solutions, not tasks or piecemeal jobs.

The most successful firms provide complete solutions to their clients' problems. They stay with their clients to ensure tt specific increases in awareness n conversion actually happen. Tts a solution!

Finally, big firms have a positive, proactive attitude.

They know tt building a firm takes patience n resilience, n r ready to weather setbacks along the way. Their philosophy is to move forward, keep learning n improving, hav fun, n never look back.

In contrast, less successful firms give up during trials n tribulation. They dont persist. They seem unable or unwilling to learn n try new approaches n ideas.

So do u offer deep, comprehensive solutions tt get results? N how wld u rate ur attitude?

Step 3: Develop a strong strategic foundation

The nxt step in thinking big is to develop a strong strategic foundation. Ur strategy answers key qns abt ur business n how u will grow n compete. These qs include:

What is ur solution? Ur solution shld solve ur target market's complete problem, from A to Z. Many firms fail cos they only offer a partial ans to their clients' problems.

Why r u unique? The most successful firms can fill in the following sentence, in a way tt matters to their target market: "Unlike other firms, i…" (Egs: manufacture well-designed jeeps as all different dimensions r calculated flawlessly to specifications)

Which r the other big firms? U hav to know the other competitors in order to win them.

Step 4: Build assets u can leverage

The more these strategies u use, the more successful u will b:

Develop a marketing system. With a consistent investment in marketing activities, u can ensure tt pple contact u in good n bad times. So tt u can obtain the optimum information abt ur client.

Elements of your marketing system shld include a variety of ways to gain visibility. Stand out n make urself known. Most of these approaches dont cost much to implement, but will improve ur visibility in ways tt ur prospects appreciate.

Please dont claim tt u lack the time and expertise to do more marketing. If u wanted to find 30-60 mins a day to do more marketing, u cld. And there is plenty of material out there about how to market. U probably just need more confidence.

Step 5: Take enormous, focused action

Dont always say tt u "know" what to do, but cant seem to take action to do it. Wld u rather be smart, or successful? If u choose the latter, knowing isnt enough. U hav to take action.

For instance, here's a plan to get started right away using a marketing system:

Design a marketing message that clearly explains the problem you solve, your solution, its benefits, and why you are unique. Include proof in the form of a few testimonials.

Set a goal to reach ur entire target market in as short a time as possible, in the following ways:

  • Offering a free assessment tts not a hidden sales pitch.
  • Writing a couple of articles in publications targeted to your market.
  • Speaking at venues where ur client goes.
  • Going to everyone else in ur network n developing ways to exchange referrals n leads.
  • Conducting research in ur target market abt ur clients presence, n other information tt u wld like to hav. This tactic is a great way to get in front of competitors.
  • Test what work n dont, n keep moving forward.

Conclusion: Stop thinking small, once n for all. B confident n think big, to bcome a big firm.

Note: Liben is a music publishing company.

On a largely different note, Pluto is officially no more a planet. Dont worry liben, TITAN, is still the 2nd largest moon in our solar system.