Survey Says You Can Strike It Rich In This Economy

I'm not into the "doom and gloom" that's being reported in the media...I think so much of it is speculation just to fill airtime and open to interpretation. To me, it just feels like the planet is cleaning house on many fronts and we'll move through it soon and be in a much better place. There were many changes that were just begging to be made this year, don't you think?

I took it upon myself to find out what's up and I've talked with a lot of REAL people to get some answers. I'll share what I know here...it's all good as far as I'm concerned. Use the information as you see fit!

1. Investors are investing in start-ups
Yes, Virginia, there is money out there. If you're trying to raise capital and think the investor pool has dried up, think again. There's plenty of money out there but you need to be more prepared than ever with a great idea, great plan, and a great team. Validate and work through as much as you can to reduce some of their risk however. I'm experiencing this personally with my projects and received this feedback many times over in my survey.

2. Be as real as possible...and passionate
This is the era of authenticity and people are practically demanding it. Be real, cut out the hype, get to the point. This is not to say that your promotions shouldn't be big and bold---you still want to stand out. But when you get someone's attention, let them quickly see what you're all about and be sure to infuse your passion and enthusiasm. Customers, investors and partners will feel safer.

3.Connection and Relationship Marketing is key
Regular follow-up is critical now...I heard "out of sight, out of mind" across the board in my survey. People are looking for value but they're also price conscious so if you haven't instituted an ongoing communication program in your business (such as an ezine, regular announcements, telephone calls, events, etc) they are more inclined to switch to your competitor if they don't feel the love. No, this isn't dating advice but it could be...for your business.

4. Outside resources are more affordable than ever
If you thought you may not be able to afford graphic designers, additional technicians, a marketing manager, sales support, etc. ---think again. There is a plethora of talent out there willing to negotiate, barter or gift you support so now is not the time to pull back on new projects. Get creative on how you'll acquire these resources. Survey says FORGE AHEAD! It lets customers know you're business is growing and they'll feel comfortable buying from you and referring as well.

5. Collaborations rule
Think Strategic Alliances and Joint Ventures...even figure out ways to collaborate with potential competitors. There's strength in numbers and you can really do more with less when others are promoting you or you're pooling resources. Third party endorsements to a warm market go much further than advertising to strangers. I help people MAKE millions so I like to collaborate with businesses that show people how to KEEP their millions. Same target market with different, yet complimentary needs. Survey respondents all talked about the desire to see businesses collaborating as an insurance policy for success.

6. Think big, start small
Always shoot for the moon but figure out ways to keep carving out pieces of your plan to get off the ground sooner as opposed to launching your entity all at once. Perhaps start in a smaller market to get traction (early sales and recognition), and grow from there. A service business intending to be a national franchise with multiple locations should still start in a local market for testing and validation and to build investor confidence. Build out in "threes" thereafter. You may also need to prove you can do more with less in some instances. One of the companies that I'm helping began raising capital and at the same time was able to show it could create revenue on its own. The more business it gets without outside capital, the faster the investor checks come in.

7. Having an online presence should not be an afterthought
Doing business online can be easy, fast and cheap when you know what you're doing. Besides that, customers, collaborators and investors EXPECT that you'll be there so if you've been putting it off...don't do it any longer. You can easily get started for $7 at Snagadomain.com and DocMurdock.com (my husband's companies). Consensus across the board: If you're a company that has customers, it sends up flags to investors, customers and collaborators when you haven't taken advantage of all the opportunities the internet has to offer...or have a solid plan to have an online presence.