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Seven Ways to Thrive in a Seemingly Adverse Economy

March 1, 2009 By Suzanne

By Carol Chapman and Suzanne Tulien, Principals of The Brand Ascension Group

 

In the recent economic environment, our psyches are being tested daily and pushed to the ultimate limits of our tolerance. The stock markets are falling. How far? Who knows? Wall Street is falling apart. Our banks are in a credit crisis. The government is saddled with a huge bailout as ‘main street’ reels with homeowners losing their mortgages, consumers tightening their pocketbooks, employees losing their jobs and entrepreneurs forced out of business. Should we go on? NO!

 

Most people’s first instinct is fear and with fear comes negative thinking leading to panic or irrational actions. However, we need to be reminded that small businesses are the pulse that keeps this nation going and we have to keep a positive and innovative mindset. Are you in and or out? If you’re in, then DO the following:

 

  1. Don’t get sucked into the doom and gloom mentality – and assume this seemly adverse economy is going to hit you negatively.
    1. When it ‘bleeds it leads’ is a well known phrase in the news media business. Stop watching the news. Stay informed but don’t be inundated with it.
    2.  Be positive. The effect of getting caught up in the collective psyche of the world can spiral you downward and affect you and your employees’ behaviors negatively, creating a domino effect within this psychological funk, spiraling further downhill into negative thoughts and outcomes. Find the positive in EVERYTHING around you and acknowledge it immediately.
    3. Remember in our last eNewsletter issue on The Great Business Secret—the Law of Attraction? We now know from a quantum physics level that ‘like attracts like’. Thoughts become things…Think positive. Be positive. Act positive!

·         DEFINE—think about what you want irrespective of the trap the collective psyche is falling into.

·         ASK—declare what you want and make sure your employees are on the same page. They have to be with you 100%.

·         BELIEVE—accept that what you’ve asked for is on its way because you and your employees have the knowing and confidence to weather the storm. Be grateful for what you have. FEEL that more of what you want is coming. Dismiss negative thoughts and replace them with positive ones.

·         ACT—strategize and maneuver with confidence in everything you do. Leverage the talent around you through your colleagues, employees, customers, partners, family and friends. They want to see you succeed.

·         RECEIVE—when you know that what you are asking and believing is already coming to you, all you have to do is continue to feel it happening.

 

  1. Get back to the basics—get in touch with your employees and your customers, and identify 3 things you do well and leverage the heck out of them.
    1. Coach your team to not ‘buy-into’ the negative speak.

·          Sit down with your staff. Together, discuss ways to support one another to keep employee spirit high. Develop a fun ‘mantra’ that you can shout out loud and that supports your positive outlook. Shout out this ‘mantra’ regularly, pat each other on the back and do lot’s of ‘high-fives’ when positive actions or thoughts are notices. Be confident in your speak and actions on how you will weather the storm together and come out ahead.

·         Encourage them to think positive and not succumb to the fear factor. Reaffirm positive thoughts and behaviors. Do not acknowledge the negative.

·         Be as transparent as possible with providing them information. Knowledge is power and they will feel comfort in your openness.

·         Make sure they understand your core values and what they translate to in terms of behaviors. Together as a group create a behavioral “Code of Honor” that reaffirms your organization’s values.

·         Think of the ONE WORD or CONCEPT you want to OWN in the minds of your market. Communicate this to your employees and get their ideas as to how they will build your brand experience to deliver on this concept. Take a look at all your customer touch-points and how you can enhance those touch-points by being more relevant to that ONE Word or CONCEPT you defined.

·         What makes you truly different? (E.g, more experience, longer store hours, wider selection, one-of-a-kind product, amazing warranties, etc.) Challenge your employees to team up and collaborate to identify and create ways to leverage your differentiations as a brand through the customer experience.

 

  1.  
    1. Who are the 20% of customers that deliver 80% of your revenues? Make a list!

·         Get on the phone with them. Let them know how much you appreciate their business.

·         Be a solution for your customers. Find out their needs and find ways to deliver those needs cost-effectively, but don’t cut back on your own quality services.

·         Ask them 3 key questions. Open your conversation with “We appreciate your continued business. You’ve been a valued customer of ours for X months or years…”, then ask:

                                                                                                               i.      “What is the most pressing issue you are facing in your business right now?” Ask them if you can take a few moments to brainstorm and provide some value-added ideas with them. Tell them you care about their business. Be a friend.

                                                                                                             ii.      “Who else do you know can benefit from our products/services?” We want to help them.

 

 

  1. Find ways to bundle your products and services— to make them more cost-effective and appealing for your customers.
    1. For example:

·         Purchase 2 products and get the third one free

·         Purchase services X and Y, and Z is on us

·         Create a loyalty card, (e.g.,  buy 5 get 1 free)

  1.  
    1. Utilize your smart employees’ minds and challenge them to get creative and invent ways to provide ‘value-added’ behaviors to your customer in the most cost-effective ways for your business. Your employees appreciate being more of a part of the business development and growth strategy. Remember to celebrate even the smallest of successes!

 

  1. Do NOT cut-back on your normal level of marketing/advertising—businesses tend to fall into the trap of this ‘state of lack’ mentality in tough times.
    1.  Don’t fall into this ‘herd mentality’. Maintaining your current level of marketing will only increase your brand exposure in times like these because your competitors are reducing their marketing expenses as a result of their ‘state of lack’ mentality.
    2.  Make sure, however, you deliver on your marketing messages. There is nothing worse than a customer experiencing a huge disconnect between what you promise (as the overall experience) in your advertising and what you actually deliver.

 

  1. Leverage the senses—feeding the senses in consistent and distinctive ways that reflect your brand can create an intense emotional bond. Consider sight (is your brand bold in color or rather subdued, muted tones and are you consistent in your visual representation?), sound (does your brand sound uplifting or calming?), smell (does your brand represent fresh scents of lavender and myrrh, or leather and oak?), touch (is your brand warm, fuzzy, and approachable, or crisp, polished and professional), taste (are you a fine full-bodied wine or a raspberry lemonade?). Take the time to really define your brand’s multi-sensory environment, make sure it represents your core values and style attributes, then leverage the heck out of it, consistently!

 

  1. Get out and vote. Make your voice heard. Whatever your decision. Put a stake in the ground. Just do it!

 

  1. And finally, be even more strategic and conscious in building your brand. Branding is fun and when it is done deliberately with your team it is exponentially rewarding. We have an advantage as a small business. We can easily connect and collaborate with all our employees and keep them in the loop with our goals and vision.

 

  1.  
    1. Consider acquiring some highly informative, fun and experiential, highly affordable, easy to read ebooks that were written to help, you, the small business entrepreneur define, create, and build your brand from the INSIDE OUT! (Without spending $1 in marketing….REALLY!)

 

Finish the year out with a bang and a positive mindset. It’s a choice. Just choose.

 

Carol Chapman and Suzanne Tulien are Principal s and Co-Founder s of the Brand Ascension Group, LLC. The two are expert brand consultants, speakers and certified trainers and certified in Accelerated Learning Methodologies. They are authors of Gettting Your Employees on the Brand Wagon, and The 6 Myths of Branding. They regularly write articles on branding strategies  for small business. www.BrandAscension.com, 719.265.1707.

 

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Testimonials

“Suzanne is a fantastic brand expert who makes an immediate impact to the bottom line. Her efforts helped me successfully launch a small business venture (fitness gym: dynamic-gyms.com) into a very competitive market achieving break even revenue goals within three weeks of opening! Simply unheard of in this market segment. This would not have been possible without her direct efforts to help us succeed.”
Larry Solecki, CEO, Dynamic Training & Fitness Gyms

SarahRyals-Pic“Suzanne creates a wonderful experience to build an understanding of brand, especially for those who are new to brand basics. Her teaching modules are clear, well organized, thoughtfully explained, and she does a great job coaching teams through the work. The final outcome is an actionable foundation for delivering a consistent, meaningful brand experience for all the brand’s stakeholders.”

Sarah Ryals, Women's Resource Agency Board Member
SuzanneKladder-BW-Round“Suzanne and her Personal Brand program are amazing. She really gets you to take an honest, in-depth look at who you really are at your core and get past what you or others think you are. She helped me abandoned the idea that I needed to be perfect and to realize that perfection is me being me. The work I did with Suzanne continues to help me behave in a consistent, authentic way and it has had a positive impact on my business.”
Suzanne Kladder, Sales Whisperer
“By participating in Suzanne’s Personal Brand Mastermind Group I revealed my true, distinctive brand attributes which has allowed me to actively live my true brand self. It has been a tremendous value for my networking and branding of my consulting practice. Her program was professionally crafted and delivered with personal support and guidance. I would recommend Brand Ascension’s programs for any person or organization looking to elevate their brand presence.”
Mark ShadlePresidentSpeed2ResultsColorado Springs
VW-Round-BW“I’m more clear and consistent in my actions and communication across the board. I’m more mindful about what I do – and even more importantly, how I think – and have more clear direction of what actions to take next and why. Identifying, defining, and stepping into my authentic self was exactly what I was looking for and needing to kick-start my next level of success! Because I am “Uniquely Wise, Deliciously Inspired!” Thank you Suzanne!”
Veronica WirthOwner + Creative DirectorDesign BistroVermont
DeniseWhitaker-BW-Round“Taking the Personal Brand Presence course was like going through a re-birthing process for myself. It was truly enlightening to have that alone time with ME, and rediscover who I was. The course and consulting sessions were empowering, and added so much confidence to my state of being!”
Denise Whitaker, Realtor
“For years, I have been the gerbil on the wheel, trying with all of my energy, to be all things to all people.  It is so liberating to focus on the strengths I bring to the table and not worry about who that will line up with.  I love what you said about how when you let go of those who don’t line up, it only opens the door for more of those who do.  I am totally seeing that happen in my life and especially in my business!  I shared this with my business coach and he said that you were rig… Read more
Lisa Gross, Sr. Mortgage Lender, Peoples National Bank
“Wow, I wasn’t expecting such a breakthrough!” That is what you will tell yourself when you complete one of Suzanne’s Personal Brand Mastermind courses. If you are not aligned with your authenticity, everything in your life will suffer as a result. I highly recommend anyone who wants to get to the next level in business or their personal life to enroll in this series. This is an exclusive training program for high-caliber, high-potential clients so be ready to roll up your sleeves do… Read more
Cory Arcarese, CEO, CArc Media
  JanePeck“Suzanne has facilitated training in our organization to bring the branding basics to our team.  She is dynamic, entertaining and engages all the senses in her training methods.  If you are looking to elevate your brand and engage your team in the process, I highly recommend her.”
Jane Peck, MBAAdministratorEndodontic Specialists of ColoradoColorado Springs
“I highly recommend Suzanne for website, branding, and any and all creative work. She is excellent to work with: fast, on-time, full of fresh ideas, offers solutions, great attitude, multi-talented…and also fun! Suzanne has been a tremendous asset to Grizzard and our marketing program. She is an integral part of our team and success.”
Stacy Guidice, Marketing Dir., Grizzard Communications

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