Tuesday, July 1, 2008

Problem solving: Develop ideas by connecting with business owners

Entrepreneurs can be independent souls who enjoy — and may even prefer — their own company to that of others. How do they stay current, generate insights, even brainstorm and keep business strategies on the cutting edge while flying solo so much?

The answer is: stay connected. Develop and maintain a supportive network.


Last year, I joined two like-minded colleagues to develop an alliance that helps each of us manage our businesses. We usually meet once a week to talk about what's happening in our lives and at work.

Through the power of combined thinking, we have developed branding taglines, new designs for Web sites and more products to sell.

We've all gotten positive feedback from clients and prospects. My colleagues have boosted their income by learning how to repackage their services or by getting tips on how to launch a new product.

Informal gatherings work

One of my colleagues even went to the trouble of putting together a small forum at her home one Saturday afternoon to discuss innovative business strategies she had learned about at an industry seminar. Sharing the ideas was her way of helping us all.

She invited eight business people from diverse backgrounds to the get-together. We each talked about our companies — and what we could apply from all she had shared.

One of the highlights for me was the reminder not to be overwhelmed by scale. Know the basics of what you need to book, collect and earn, and follow through.

Evaluate which are the high-value activities you need to complete each day to achieve the earnings you desire, and focus on those.

Sometimes a simple, direct approach works best. For instance, one idea was to follow up with a phone call to contacts made at industry meetings or other events.

Even a voice mail can help, if it says something like, "I met you at (name the event), and I know you are busy. Here is what I can provide (briefly describe your service). I'll send you information to review. If you find it valuable, and would like to talk further, just let me know."

Another insight was to find a customer niche that works perfectly — one that is easier to market to and also has the potential for strong results.

The Saturday afternoon meeting gave us the opportunity to develop relationships over pasta and other refreshments. Ultimately, we are social creatures by nature, and making new contacts is fuel for future referrals.

We can thrive in a challenging environment with the right balance of interaction and solitude. A mutually cooperative, supportive environment is the best way to get and keep a distinctive edge.




Music Row faces new realities