Author: Allan Colman

CALIFORNIA STATE UNIVERSITY DOMINGUEZ HILLS NEWS

Part I.

The Great Resignation–which has seen millions of workers quit or change jobs since the start of 2021–has set the stage for a surge of new entrepreneurs. However, as startups have an average survival rate of only 20 percent, they are highly risky. Mistakes are costly and common, especially among the inexperienced.

To help early-stage ventures avoid these pitfalls, CSUDH Adjunct Professor of Marketing Allan Colman wrote The Revenue Accelerator: The 21 Boosters to Launch Your Startup, published in August 2022 by Made for Success and Blackstone Publishing. Drawing on interviews with dozens of start-up entrepreneurs and business leaders, plus decades of his own business development experience, Colman provides an essential companion guide for entrepreneurs looking to make the leap from building their product to selling it–and shares some key lessons here.

You mention a potential surge of entrepreneurs in the U.S. What are some shifts we’ve started to see already?
First of all, there’s the Great Quit, as I call it. A significant amount of people who have left their jobs will be looking to start their own business. On top of that, there is a huge increase in people aged 55 and older who have already retired, or will soon be retiring–many of them may pursue entrepreneurship to earn extra income. Lastly, since the COVID-19 pandemic, there has been a big drop in the number of women in the workforce. We’re seeing new entrepreneurs from each of these groups.

In your opinion, why do start-ups struggle to survive?
The experts I interviewed were unanimous: the biggest problem they see is entrepreneurs not researching whether there’s a market for their product or service. If they don’t look at the market before they start, they’re already really behind.

Once a new entrepreneur knows there’s a market need for their product or service, they need to find out where they can get free assistance–from development centers, the U.S. Small Business Administration, and community college programs. There is a huge amount of free and low-cost advice for startups.

Did you know? CSUDH’s Innovation Incubator offers a variety of free and fee-based programs and courses for students and community members looking to start or grow their business.

https://lnkd.in/gQ8RNm5B

Part 2 of 3.

With prospects accessing information on so many different platforms, marketing professionals are wisely using a broad array of tools. These, in turn, are opening more opportunities for sales professionals — if they have their eyes open.
“Opportunities are like busses. If you miss one, another will be coming along” IF YOU HAVE YOUR EYES OPEN. (Quote from Sir Richard Branson.)

4. Email Newsletters – provides an opportunity to concentrate on building a “fan” base. Track not only the people who open the newsletters, but add those you meet at meetings and even neighborhood socials. And note that the very same content you are using in the digital advertising campaign can be used fr the newsletter.

P.S. In spite of what many marketeers say, well positioned newsletters do, indeed , have an impact.

5. Attending networking events – should be second nature for marketing professionals, not just the sales team. Building relationships at this stage is absolutely critical for ultimately winning new business by learning how and what they read and look for in content. And then apply it!!!

6. Speaking at conferences – brings your knowledge and relationship building skills in front of audiences. Or build a panel session with your firm’s/company’s clients giving them exposure as well. And where do you promote and advertise your speaking? Of course, you will use all of your social media and newsletters.

“RAINMAKING NEED NOT START OUTSIDE.
IT BEGINS UNDER YOUR OWN ROOF”
For our newest seminar on B2B Marketing, www.closersgroup.com

The 90-Day Revenue Sprint Keynote —

This 90-Day Revenue Sprint is designed for no out of pocket cash required to start. It’s a course that stimulates entrepreneurial spirit and creates a course for owners to rally their employees around. Allan provides a blueprint for the sales-driven leader to rely on like a lifeline as they stretch their limits for producing cash for 90 days.

The “Sprint” is specifically designed for speed and rapid revenue growth. It is NOT about kissing more frogs. It is NOT marketing. It is sales execution to accelerate revenue. It is actions, not plans. It helps to:

·    Rapidly increase new business
·    Double the number of meetings and prospects
·    Find and use hidden assets

Read more at https://lnkd.in/gQ8RNm5B

THE PROFIT LAB  – See details on the Speaking pages link

“Create a sense of demand rather than waiting to hear demand.”
Barbara Corcoran

SalesPros must anticipate the needs and wants of prospects and convincingly satisfy these more effectively than competitors. Marketing in today’s highly competitive marketplace is challenging, as you know. Many industries are individually idiosyncratic and uniquely resistant. Therefore, the quality of your selling includes special insights and strategies to penetrate successfully.

Do you have a “clear” brand?

“Your brand is what stays in the room after you’ve left the room.”
Jeff Bezos