Judging by the information you find online, If you want to have a talk about successful business, the only thing you need to do is marketing.
If this is true…why are so many struggling?
Don’t get me wrong. Marketing is important but what if your budget doesn’t have the big bucks to spend on advertising, subscribers list, pay-per-click search engines, web site optimization and so forth.
Now what do you do? If your like most smaller businesses, you struggle…sometimes for years…unless you build your business the smart way. That is to build support teams.
You should be developing 5 different support teams. Each team has specific role for your business.
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Support Team 1 – Referral Team
My husband was in a car accident several years ago. This is stressful event in anyone’s life but he came home from the auto body shop very impressed.
He was talking with the owner all the things he had to do as a result of the accident. The smart owner pulled out a notebook. He began to give my husband several recommendations of individuals and companies that could help him with those other “things.”
It saved him hours of frustration and phone calls.
What the owner of “Second to None” did was build a team of referrals who could assist his clients needs which are outside his business speciality.
Your customers have a life outside of what your business services offer…build a team to meet those needs. It shows your customers you really care.
Your reputation is on the line when you make a recommendation. Develop the relationships first before putting them on your referral team.
Guess who always handles our car’s body work?
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Support Team 2 – Team of Influence (Points which someone never talk about successful business )
This is a very important team. It will grow your business to phenomenal levels if nurtured properly.
This is the team of people recommending you to their clients.
What would you rather do… Purchase from a recommended source by somebody you trust and respect or from an ad?
How do you build a Team of Influence?
First thing is take the focus off yourself? The Team of Influence is not you. It’s them. It’s you giving first.
Second – Start asking your potential team what can you do for them? How can you promote them? Get to know them. Ask them questions their business. Bob Burg, Endless Referrals, recommends asking “How can I know if someone I’m talking to would be a good prospect for you?”
Third – Take action. Start promoting them. Start giving referrals. Put them on your referral team.
Fourth – Don’t keep score. If the ONLY reason your doing this is to have this person buy from you or send you business, you just broke step one and put the focus back on yourself.
Fifth – If you are giving unselfishly without expecting anything in return, it will come back to you. You won’t have to worry sales.
Sixth – Treat that referral like a rare diamond. That person put his reputation on the line by sending you a client. Don’t give them anything less than your best.
Seventh – Acknowledge the referral. Say thank you. Even if it doesn’t produce a sale…that person was still thinking you.
This isn’t easy. Especially, if you are struggling and, your phone is to be disconnected. I know I’ve been there. This requires faith and trust since you don’t always see instant results.
It does take time to build your Team of Influence. But before you know it your business will become easier grow and you won’t have to work as hard for sales.
The next issue we will talk about the other 3 teams to help build your business easier and faster.
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Support Team 3 – Subcontractors
Employee regulations and payroll taxes often make it cost prohibitive for a smaller/solo business owner to hire people, Especially in the beginning years.
Yet hiring people is crucial if you want take on bigger, more profitable project that you can’t do all by yourself.
Subcontractors are your answer. They remain as individuals and are not subjected to employee regulations. Many smaller business owners team together to work on a project that individually they couldn’t do themselves. You must able to work together and get along with each other.
Written contracts or agreements between subcontractor are important and advisable so there is no misunderstanding payment arrangements and job responsibilities.
Being part of a subcontracting team can bring additional revenue into your business
There is a thin line between the subcontractor and an employee. Seek the advice of your accountant to make sure you don’t receive any surprises from the IRS.
Which brings us to the next team…
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Support Team 4 – Professional Team
This team helps guide your business. A must on this team is your accountant. The second would be a lawyer. Other professionals can include an insurance agent, a business coach, sales coach or any other consultant or expert you need for your business.
Double-entry bookkeeping:
This is more complicated than single-entry bookkeeping but possibly a better choice, thanks to some of its built-in controls for accuracy. Under this system, transactions are entered in journals and then posted in ledger accounts. For example, each debit entry is offset by a corresponding credit entry, so the account is always in balance. The ledger shows income expenses, assets, liabilities and net worth.
Talk to your accountant to decide which one is the right one for your business.
Today’s software programs make it easier for the small business owner to set up an effective and easy to maintain system. Your accountant can also set up your using the software.
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Support Team 5 – Advisory Team.
It will take you forever if you try to figure everything out yourself. The advisory team is your board of directors. It’s usually a group of business owners/people whose collective skills and knowledge assist each other in their businesses.
The advisory team is also known as a roundtable or mastermind group.
Napoleon Hill, author of “Think and Grow Rich” talks about the dynamic power of a mastermind group. He says no two minds ever come together without creating a third, invisible intangible force.
That invisible force results in multiply your brain power.
You can achieve faster progress, engineer breakthrough ideas, streamline problem solving and shorten the time to bring a concept into reality.
Every successful, wealthy person attributes the power of a mastermind group…advisory team to their success. It is one of the top strategies among successful people.
You must have a common objective when putting your advisory team together. Keep it around 3 to 8 people and meet together on a regular basis.
How do you find people for your 5 support teams?
You have to get out of your office and start networking to find qualified people. Online, this can include attending teleconferences and forums.
This publication also features people you can add to your team. These people do not pay to become featured as team builder. They are invited and I receive no compensation when you use their services.
The best way to start building your team is to ask your potential team member what YOU can do for them.
Building teams takes time and requires nurturing but your teams will take business to new levels with less work, less effort and in less time than you could ever do by yourself.
Team building is the ultimate marketing tool.
Conclusion
There are many things which are learned with the experience and many people don’t tell them to the new business and even if they did, these points are the basic fundamental points for building a successful business.
