When we think of the word “reinvention,” most of us think of a BIG, flashy change. With hit TV shows like Extreme Makeover: Home Edition, we’re a society that LOVES the “big unveil.” But in business and in real life, the best results come from strategic and deliberate action.
Think about those great ideas you have, just sitting on the backburners of your mind. You want to makeover your brand, but you just can’t afford to hire a designer right now. Or maybe you know your fulfillment processes are a nightmare, but you’re so swamped that you just need to get by for a little bit longer. You don’t have to unearth your business in order to make these changes happen. If you choose one area to work on at a time, you’ll eventually start to see a shiny new version of your business appear.
Let’s take a look at THREE easy ways you can reinvent your business. They might not be high drama, but they’ll likely get you dramatic results.
1. Change Your Target Market
If you cast a wide net when you first started your business, it might be time to focus on a specific niche. With the amount of information flying around on the Internet, Smart Phones, etc., your typical consumer doesn’t have the time or mental bandwidth to decide to like you or not like you — unless you have something that they specifically need. As a business owner, the best way to grab their attention is by meeting a specific, targeted demand.
For example, a Virtual Assistant will probably have more success targeting work-from-home entrepreneurs and startups versus any and all businesses. And a copywriter who specializes in writing for Internet Marketers will probably be top choice for a new blogger or online marketer.
2. Change Your Model
Look at your product or service and think creatively about some new ways you could offer your expertise in the market.
If you’re a coach or consultant and tired of doing one-on-ones, it could be time to start group coaching. Remember, this doesn’t have to be dramatic. You could start with a group as small as three and expand slowly and steadily. Once you get into a groove with doing small workshops, you could even take things a step further by developing a curriculum based on your live lectures and turning it into a packaged home-study program. All of a sudden, you’re a coach/consultant with live workshops and products to offer.
Don’t underestimate how powerful this one little change can be for your business. You can substantially increase your income this way. A great example of a model shift: One of my Millionaire Protégé Club’s Diamond members, Ciara Daykin, took her wedding planning business up to the six-figure mark. Then after incorporating coaching into her model, her revenues blasted up into the multiple six-figures. She just wrote me recently to share her business had surpassed the MILLION dollar mark! And this all happened in the span of three years in which she was in my programs.
3. Change Your Marketing
It may be time to change your message. Pick a bold angle and go with it. Appeal to a new sense and adapt your message to the current climate. Customers usually appreciate a change of pace from the norm now and then — and if they don’t, they’re usually not shy about telling you what they think. And, you can use their feedback to keep honing your messaging until it’s just right.
Or, you can also change the vehicle you use to deliver your message. Many online marketers are so used to using the Internet to promote their businesses, that they completely ignore effective print marketing campaigns. A published article in your local print newspaper, a postcard or brochure mailing, or an ad in a regional glossy magazine still goes a long way when it comes to introducing your business to new leads.
When it comes to online media, you have plenty of options to choose from. For instance, you could announce your new product in a video and send it to your list, instead of sending your usual email blast. Or, offer a free MP3 download to incentivize people to buy your product, instead of the usual coupon.
By far the BEST place to immerse yourself in new ideas for reinvention is at a live event with leading-edge expert presenters and hundreds of other successful business owners. If you’re ready to experience your own reinvention, then join me at SHINE 2011 in Dallas, Texas (November 2-4!)
It’s my annual event that’s fast becoming known as the premier conference for women entrepreneurs. Learn all about SHINE and how you can SAVE $200 here — but only through Tuesday, March 15!
© 2011 Ali International, LLC
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