Archive for June, 2012

Marketing is only as good as your: LIST

June 6th, 2012

We’re often asked what is the most important element of a marketing program. We believe there can’t be just one, instead there’s a few things that firms need to get right for their marketing to be effective. On the list is: THE LIST.

Too many firms don’t pay proper attention to cultivating a pipeline of prospects. They fall into the trap of buying a list, mailing to them once and when nothing happens they give up never to use that list again. Alternatively each partner hordes business cards and puts them in the bottom drawer never to see the light of day again.

For your marketing to be effective you need a good list. First step is define who you want on the list – you may have a couple of lists. Then you need to build it. You might buy one from a listing company, you might round up all the loose business cards in the office or you might grow your list guerrilla style and using yellowpages.com or manta.com, collect names of your target audience.

Set a goal for the firm. Maybe it’s add 100 names a month and give a prize for the person who adds the most names. Or it might be the job of your dedicated marketing person to spend 20 minutes everyday adding 5 names from web searches.

Your marketing ROI will improve as the quality of your list improves.

Now get to it!

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The Discipline of Getting Things Done

June 5th, 2012

How to Get More out of Your Business

Being a business owner can be a lonely job. As the owner you bear the responsibility of getting things done, and sometimes it’s hard!

In the recent webinar, Creating Your Strategic Plan, we first discussed what is a strategic plan and unfortunately we spend too much time trying to work out what should be in the strategic plan that we never get anywhere.

Think about strategic planning like this:

  • What is my CURRENT situation?
  • What is my IDEAL situation?
  • What is my PATH to achieving it?

What is your current situation?

When you analyze the current situation make sure you look at all aspects of your business – finance, organizational, personnel and so on. Also make sure you ask yourself “how did you get here?” Often there are behaviors that you will have to correct when you get to the third step of identifying the path you have to take. This inward looking process can be tough.

What is my ideal situation?

There are a few ways of visualizing the ideal state. Some start with various visioning questions, such as the magic wand question, or the what did you originally go into business for question. These can be difficult to answer as your ideal state may end being so far from the current state that the strategic plan becomes overwhelming.

To overcome this start small. What headache or frustration would you like resolved in 3 or 6 months time? For example, cash flow could be a head ache, so the ideal state in 3 months time might be to reduce receivables by 10-15 days. Remember keep your ideal state SMART.

Finally what is my path?

In creating your path think about the activities you need to do on a daily, weekly and monthly basis. Break the 3 month goal down into actionable steps. Before you know it, you’ll have realized the goal and will be moving onto the next one.

Some may say it’s too simplistic, but I disagree. Instead it encourages small steps that will build momentum. It identifies what specific actions you need to take each week to achieve your goal.

As you start on your path towards your ideal state, make sure you keep score – otherwise how will know how you’re doing. You may need someone else to report to and keep score for you. This accountability will help keep you focused. It will also help you bounce ideas off someone and get their feedback on your progress.

And be sure to stay flexible. Things will change and you will need to adapt your plan or your path. no problems, remain cool and react as you see fit.

Good luck!

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How is Your Firm Performing?

June 4th, 2012

Sign up for the Annual Performance Review

What is the Annual Performance Review (APR)?

The APR is a 90 minute planning session, where we benchmark your firm against major data sets and create a mini-strategic plan to improve your firm’s performance.

90 minutes isn’t a long time, but we can identify 3-4 strategic initiatives for your firm to work on this year which will have a positive impact on your firm.

How much does the APR cost?

For Premium Members, this service is free. For non-premium members, your investment is normally $495, but if you get booked by June 14, your investment will be $295.

How do I get started?

Fill in the excel questionnaire and return to damien@2020groupusa.com. We’ll then tee up a time for our phone conference and we’ll go from there.

What happens at the end of the APR?

You’ll receive a Strategic Initiatives Report and we’ll book a 6-month check-in call – we want to know you’re making progress.

Take advantage of the Annual Performance Review today.

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