Reprinted with Permission Courtesy of New Business Minnesota ©2013 – www.newbizminn.com

September 2013 The Monthly Resource Guide For Startup Businesses

Find the Help You Need in the Startup-Friendly Resource Directory - Page 13

Secrets ofSuccess

New Businesses need all the help they can get to become successful. These experienced business pros have been keen observers of the pattern and behaviors that make for successful businesses: Bob Willbanks of CBIZ, a professional services company; Lori Spiess of VirtualOffiCenters office business centers; and Rick “The Expo Guy” Martinek of MediaMax Events & Expos Inc.

TWIN CITIES MN

Special Report

Reprinted with Permission Courtesy of New Business Minnesota ©2013 – www.newbizminn.com

Publishers Note:

Are there really secrets to success in business? Well, since success can often be elusive, some struggling entrepreneurs probably believe it to be true. The reality is that success has a signature. There are certain behaviors and attitudes that you can copy and incorporate into your businesses that can help you be more successful.

New Business Minnesota approached the experts on these pages to share their expertise and offer insights that every new business can benefit from.

The authors will share more information in a free interactive workshop this Fall. For more information, go to www.newstartupmeetup.com

Secrets of SuccessDo You Have the Habits

and Attitudes that Are the

Hallmark of Successful

Businesses?

By Lori SpiessVirtualOffiCenters

For more than 30 years I have observed thousands of new and small business-es up close.

As the founder of OffiCenters, I have provided them with office space, meeting rooms and support services to help them grow their businesses. They have told me their stories about their struggles and the challenges they faced.

I’ve had a front row seat in watching what it takes to succeed. Day in and day out, tenants at our five Twin Cities loca-tions and our home-based VirtualOffiCen-ter clients are interacting with me and my staff.

After a while, you can almost tell by their habits and attitudes which ones will make it and prosper. Here is what I have learned from them – and my own business – about the secrets of success.

Attention to DetailSuccessful people always sweat the de-

tails….all of the details. When it comes to appearance, it’s not just how they look and dress that matters. It carries over to their business cards, their web site, letterhead and even the look of their invoices. Clients want to do business with people who are professional looking in all areas of their business.

We sweat the details in everything we do

at OffiCenters. For example, we never let anything leave the office or go online that hasn’t been in front of three sets of eyes. I’ve spent three decades building this business and I always want to make the best impression. We use consistent typefaces, the same colors and the same logos. It matters to me how our branding pieces work together from web, to print, to email.

When we go to a trade show, all our people have the same orange scarves – they don’t cost a lot of money and they are clean and professional – so that everyone no-tices us. The scarves always get com-ments and it’s not long before they say, “You’re the OffiCenter people.” Scarves are such a small thing, but they matter to us and our identity.

Put your best foot forward in all that you do. We just did a major build-out at our International Cen-ter location in Bloomington. When we presented our expenses to the building’s owner, it was delivered in our logoed folder with colorful tabs and everything. Some would see it as a simple bill, but to me, it was another opportunity to brand the business. Details.

People are always sizing you up as a busi-ness. If they see you don’t mind the details, they figure you won’t mind theirs either.

What will they think about you if you send out a newsletter filled with misspell-ings? Or a form letter that begins “Dear

Along the Way, Don’t Forget the Value of Collaboration, Having Fun

Call To Action

Stop at any of our five locations and mention this article to schedule one hour of free conference room time.

Success Hinges On Priorities and Keeping Your Eye on the Ball

First Name”? Being careless sends the mes-sage that you couldn’t care less.

Little things are so important to me. One time I bought a phone system from a guy who did everything right. He put all the in-formation into a binder that was organized and useful. He looked so professional. My take away was that I would be dealing with a company that had their act together and that won me over. He treated me like I would treat one of my clients.

Focused PrioritiesPriorities can determine if your business

will survive. When a business moves into one of our spaces, you can see what stuff they’re bringing in. Someone who got a business loan and then bought a big, fancy desk, an expensive chair and artwork is fo-cused on the image of success. The really successful ones have perspective. The be-gin with humble furnishings. The nice stuff comes later.

When your priorities are on your cli-ent first, you are on the right path. When scheduling a meeting with a client, ask what works for them. Don’t tell them about your busy schedule and how you will try and fit them in around your kid’s soccer game.

Show clients you care by being on time. Nothing is more insulting than someone who is always running late. That tells a cli-ent where they stand on your priority list.

Being an entrepreneur is selfless. If it’s all about “me,” you won’t make it.

Be DecisiveAs a business owner, you are where the

buck stops. If you don’t make a decision, no

one else will. Needless hesitation can cost your money and lost opportunity.

Even on small matter, indecision has consequences. That’s how you get piles of paper on your desk; you decide not to de-cide what to toss or file. Just decide already. That’s how you get rid of clutter and dis-tractions. Check it off.

A business needs to keep moving for-ward and that requires decisions be made confidently and quickly. If you don’t know the answer, give it your best guess. Leap. If you can’t make decisions, you will never be successful.

Collaboration/InteractionIsolation isn’t healthy. In prison, if they

want to punish someone, they put them in the hole or the tank…isolation.

When we choose to isolate ourselves, we don’t realize how damaging it can be. If you work at home, get up, get dressed. Get out of the house. You’ll find all kinds of energy you didn’t know you have.

People catch energy from each other. In a collaborative environment you meet peo-ple every day. When I see people hang out together they have more sales and higher productivity. It’s hard to do that at home, which is why we get our virtual office peo-ple out of their homes into our office for regular events.

Have FunI have noticed that the most successful

business people like to have fun. They have a lightness and an airiness about them as individuals and as an organization. It’s not a party vibe, but a true enjoyment in what

they do. You can see it in their faces when they ar-

rive in the morning. People who love what they do have a natural radiance. I make sure that our office and meeting spaces cre-ate an environment that supports positive energy. That’s why people do well here and thrive because nobody can be crabby that long around here.

We create opportunities for people to meet. We created collaborative spaces where you can take your nose off the grind-stone and visit other tenants for a minute. Rather than stay in their office all day, they are lured out for our workshops or for a chance to network with other tenants, in-cluding our virtual office people who leave their homes to join in the mingling and col-laboration.

We are a playground. They come into work; share the sandbox. I love it when they have a great attitude. When we play and work well with others. It doesn’t get better than that.

Billing (Seriously)Billing should be a no brainer, but for

some business owners it is a chore they ab-hor. It is the number one thing a business owner has to do. Get your invoices out on time and collect the money from your cli-ents. If you aren’t comfortable, find some-one to collect for you.

I work a lot with lawyers and other non- accountant professionals. The most com-mon problems I hear from them are billing and collections. They get so busy with their practice that they wind up not invoicing for months.

Bottom line: no billing, no revenue, no business.

ConclusionThe first secret to success is the most ob-

vious: Hard work. The most successful are always in motion, taking calls, setting ap-pointments, always being available for ap-pointments. I see them burn the midnight oil. The hard workers are always successful.

If you want to be successful, it’s going to take a lot of commitment and hard work. Look at the people around you who seem to be on the right track. Emulate them. Copy their habits. That’s what I’ve done my entire career, which has been dedicated to sup-porting the success of my clients.

NBM

Lori Spiess, owner of VirtualOffiCen-ters as well as OffiCenters in the Minne-apolis area, is a long time Office Business Center Professional, who has provided office solutions to thousands of small businesses for 30 years. She is a past president of the Office Business Centers Association International and has been a speaker and trainer for the Office Busi-ness Center Industry worldwide. Lori has a home in Minnesota and Arizona and is a lifelong advocate of working vir-tually anywhere under the sun. She can be reached at

lspiess@officenters.com

Reprinted with Permission Courtesy of New Business Minnesota ©2013 – www.newbizminn.com

By Bob WillbanksCBIZ

Apologies to Clint Eastwood as Dirty Harry: A business owner’s got to know his limitations. New

business owners have a tendency to do everything by themselves. At first it might make sense, especially when revenue is slow in coming. But successful entrepre-neurs are those who figure out their weak-nesses and seek outside help so they can focus on what they do best.

That is a trait we at CBIZ see among successful entrepreneurs. They recognize when a task has become a distraction and is hurting their business. Many of our Cli-ents didn’t recognize the areas they were neglecting or needed help with until they took the time to meet with us. As we talk about their goals and the challenges they face, they begin to realize that they need additional help. That leads to broader discussions about insurance, benefits, ac-counting, payroll and HR issues; services they need now or will in the future.

I have spent most of my professional ca-reer helping entrepreneurs deal with these issues and believe I’ve helped contribute to their success. Along the way, I have learned a lot about how successful businesses run, how they make decisions and how they compete.

The following are some of the common traits that I believe are behind their ulti-mate success.

Letting GoIn the beginning, it is common for most

owners to wear many hats. Over time, they must learn to let go and only wear the most important ones.

Entrepreneurs who spend their energy outside their core strengths quickly find themselves spending less time on revenue-generating tasks. Rather than selling their product they are processing payroll, doing the books, working on staying compli-ant with the myriad of HR rules and regulations or, worse, they are neglect-ing these areas entirely.

When I consult with new and small businesses, I spend time learning about their current issues, but I also dig deeper to find out about future challenges of which they might not be aware. Our discus-sion on payroll might lead to additional HR questions on the hiring process, providing the cor-rect paperwork, an effective job description or an appropri-ate employment contract.

Ask QuestionsBusinesses interested in success

are always willing to ask a lot of ques-tions and learn. For example, I met with the owners of a hair salon in the months prior to their opening. They said their im-mediate need was for a business insurance professional and an accountant. However, as we talked it became clear there were other issues to address as well. They want-ed to know more.

Their plan was to rent out 20 chairs to

Know Your Limitations; Do Something About Them

Learn to Let Go of What You’re Not Good At and Give It To a

Professional Who Is

stylists, so we helped them review whether they would be independent contractors or employees. What kind of employment con-tract, if any, would be needed? What docu-mentation would they have if the state called about an unemployment claim? What about liability insurance in case an ear gets sliced or the building burns? What if one of two business partners becomes disabled? What about banking, a line of credit or an SBA loan?

They listened and asked relevant ques-tions. They were eager to discuss their fu-ture needs because that meant they could go forward better prepared.

DifferentiationDifferentiation is how you draw distinc-

tions between your business and the com-petition. What makes you different could be your product, the way it’s delivered, the price point offered or the customer rela-tionship that you offer. Most successful businesses will have one or more of these differentiators, and the more differentia-tion you establish, the better your chance for success.

I’ve seen people start up a new business by leaving their old company and taking the relationships (clients) with them. For them to be successful they usually offer a lower price AND deeper, more personalized ser-vice (at least better than the previous com-pany). Add new technology or software to the mix and you’ve got a compelling argu-ment for the customer to come aboard with you. Compare that scenario to only relying on the relationship and I think you can see what I mean about the need to differentiate yourself from your competition.

Solid Business Plan A business plan helps you know where

you’re going; it’s that simple. It explains your goals and expectations and your rea-soning behind the objectives and lays out

the details of your thinking. In most cases, success is not an accident. It is the result of a good idea backed by a well-executed strategy.

Writing it out is one way to test your thinking and assumptions. It also helps others – loan officers, potential investors or partners – understand what you are go-ing to do. It provides details of how you will find prospects and convert them into customers, plans for financing, marketing, sales, ongoing service, etc.

Beware of creating your plan in isolation. You should be talking to business advisors you trust who can help identify the risk you face and will give their honest opinions on your potential for success. Have a good at-torney, accountant and insurance agent. Be willing to spend a little upfront. It’s worth it.

Understand Marketing and SalesSuccessful businesses clearly know the

difference between sales and marketing, and they budget for each to make sure those goals are properly supported. Neglect one and the other suffers as well.

Marketing is defining the audience and the best manner to reach them, having a plan to get the word out, building brand awareness and making sure you are found. Sales are what happen after your prospects find you.

Marketing would include determining your market and what is the best approach to that market, then building a website that displays you appropriately, shows up on the first page of a Google search and gets pros-pects to spend some time at the site, ensur-ing that contact is made.

Sales is the strategy and process that con-verts visits to the website into customers. Is your plan to convert a visitor to your site to an online sale, or do you want to generate a lead that will allow you to set up a face-to-face meeting to explain what makes your

business different? Obviously, these are two distinct strate-

gies. All of your advertising dollars would be wasted if you didn’t have a means for converting online visits to sales or have a good follow-up sales presentation prepared to share your knowledge and help them make up their minds. Take the time to build your sales process from start to fin-ish; don’t just rely on “winging it”.

Don’t Be Afraid to Change AdvisorsSuccessful business owners know when

it’s time to make changes. Think of the manager of a baseball team who knows when it’s time to pull a pitcher. After work-ing with a business advisor – accounting, law, marketing – for a few years, you need to do an honest assessment as to whether your needs and their skills are still in align-ment.

I’ve seen an owner who hunts with his CPA being afraid to tell him that he needs to move on to a bigger firm. There is a big difference from when your business started and when it grossed $5 million.

I know a guy who started his business ten years ago. He’s still working with the same advisors and in many cases is their biggest client. His 401K now has over a million dollars in it and it’s still in the same plan as when he started it up. He hasn’t reviewed his insurance programs nor has there been any change in the accounting methods. A full review in all of these areas could lead to improved processes that save money and time while lowering overall ex-posure to risk. Things change and you need quality advisors to help you stay on top of these changes.

ConclusionCBIZ is uniquely equipped to give a

business owner the whole picture – from transactional services to benefits and ac-counting. Further, because we are a nation-al business with substantial resources we are able to give reliable guidance on issues like health care reform and the constantly changing tax and HR landscape.

Our business is growing yours.NBM

Bob Willbanks is business development manager with CBIZ, a professional services company which provides a comprehensive range of business services, products and solutions that help clients grow and suc-ceed by better managing their finances and employees. CBIZ is publicly traded on the NY stock exchange, (CBZ). Bob has 20 plus years of payroll background and additional experience with marketing, advertising and sales. He has been involved in more than 3,000 payroll startups and conversions. He can be reached at (612) 298-1176.

bwillbanks@cbiz.com www.cbiz.com.

By Rick “The Expo Guy” MartinekMediaMax Events & Expos Inc.

Trade shows are a microcosm of the business / customer marketing rela-tionship. In a relatively small space,

in a short time frame, exhibitors eagerly show what they have and attendees line up to see it. It is a grand laboratory of table top sales experiments that hold the secrets of success.

Each year, MediaMax Events and Ex-pos Inc. produces expositions throughout the Twin Cities areas, where more than 1,000 exhibitors have the opportunity to showcase their product or services to thousands of consumers.

What you see at each booth is a minia-ture version of what that company is like. If the booth is clean or messy, that reflects what the business is like. If they do a su-perior job of communicating with the at-tendees, they probably will do a good job with their customers outside the event.

It’s all there on display, under one roof. Here are some of the things I’ve learned about the secrets of success by walking around the tradeshow floor and observing my best exhibitors.

Be PreparedThe most organized exhibitors have a

plan of action. The materials they give out are sorted and meticulously organized. They come prepared. Their space is not cluttered or confusing. It has an inviting feel.

At their booth, they move the display table to the back or to the side so it isn’t a

barrier to greeting prospects. They display the company logo prominently on their shirt or a have a distinctive ID badge.

They dress the part of a winner. They offer a quick smile and engage people when they walk buy. “Hey have you seen this new product or service?” They are passionate, but not forceful. “Want to win a prize on our putting green?”

The rule of thumb is an exhibitor has only four seconds to entice a person to stop, look, and listen. Four seconds to im-

press. In Short: don’t waste those precious moments.

They have business cards with the phone number big enough to read and clearly. Make it easy for people to reach you in whatever way they want to reach you. Be available on Facebook, Twitter, Linkedin or any other medium favored by your prospects.

Exhibitors who show up at last minute or are always late, really aren’t prepared and don’t really want to be there. It’s pretty

Success Is on Display at Every Trade Show

You Can Learn a Lot By Studying the Habits of the Best Exhibitors

Call To Action

If you are interested in learning more about MediaMax shows and opportunities, call Rick at (952) 238-1700 to receive your free Exhibitor Kit and get your company in front of thousands of consumers.

Rick Martinek and Jim Holt of MediaMax Events and Expos Inc.

obvious. They eat at the booth, check email, talk to their booth partner or hide behind the morning newspaper. They spend their time creating barriers that sabotages the whole purpose of exhibiting. Oh, and they leave early, too.

CommunicationYour time is valuable. So is your pros-

pect’s. Make sure what you are saying is meaningful. Focus like a laser. The trade show environment is filled with action and an opportunity will keep walking if you don’t connect effectively when you get your chance.

Be an active and engaged listener. Al-ways be sensitive to what a prospect’s needs are and use what time you have with them to find out how you can ease their pain. If their roof is leaking, they don’t want to hear about your golf game. Talk shingles.

Every business person should have their elevator speech perfected. You will use it whenever you are introduced to someone, so make it good. And if you exhibit at a trade show, practice it so you can deliver it without sounding bored after repeating it 200 times.

Never Give Up.The final two hours of a show can be al-

most dead if there happens to be a Vikings game going on at the same time. Rather than start packing up, the pros never let

up and stay focused on what opportunities may still be available to them.

From experience, they know that big deals often happen when shows get quiet. It’s easy to have a deeper discussion that leads to a sale when there isn’t a lot of dis-tracting traffic. Someone with a lot of ques-tions is more likely to approach if you aren’t busy talking to someone.

And the good ones are prepared for re-jection. It’s like water rolling off a ducks back. They know that they may have to hear “No” 25 to 50 times before they get to a “Yes.” They never give up.

Follow UpFollowing up on a contact is a habit prac-

ticed by every successful business person I’ve ever met. It seems pretty obvious, but for many it’s as hard as cold calling. They’ll collect business cards at the booth but nev-er get around to doing anything with them.

The biggest complaints I hear from at-tendees is that they don’t get call backs. Whoever spent time and money to get in front of that attendee and talk about solu-tions just blew it. Chances are they didn’t intend to. They just got back to the office and “it just got away from me.”

The best exhibitors I know make follow-ing up part of their process. The number one goal is to make meaningful contact from start to finish. They show up prepared

for the sale and have their calendar in hand so they can set appointments when the op-portunity arises at the booth. Then they call everybody that expressed interest and add all contacts to their database so they can communicate with them going forward.

Never waste a lead. Give New Ideas a Fair Try

New marketing ideas are so enticing and full of promise. The danger is if you fall in love with new ideas and are constantly try-ing new things.

Don’t always be chasing the latest bright shiny object. Give every new idea a chance to prove itself by measuring results. Give it enough time to see how it performs com-pared with other efforts. The most success-ful exhibitors I see will try a themed show a couple of times or more and closely tracks visits, appointments and sales.

They know that sometimes it takes a few events to figure out how to best take advan-tage of the opportunity. They find that their results improve with each event as they are able to tailor messaging. Whatever idea you try, give it a fair chance to become your new best marketing tool.

One contractor I work with found that after he had done a few shows, his com-pany was recognized more often and he was building trust within his market. Each year that the business grew, they would have more yard signs at job sites. And that recognition bred more success at the next show when attendees recognized their name from the yard signs. That is a cycle of success.

ConclusionBy now you should have noticed that

some of the secrets of success aren’t really secrets. They are simple truths. Being pre-pared requires that you are committed to it. That means you live it and make it part of who you are.

And being successful is just the result of being committed to doing a lot of simple things very well. And that’s hard work, but totally worth it.

NBM

Reprinted with Permission Courtesy of New Business Minnesota ©2012 – www.newbizminn.com

Rick “The Expo Guy” Martinek is presi-dent and CFO of MediaMax Events and Expos Inc., which produces 10 shows a year – eight Home Improvement and Design Expos, two Healthy Life Expos and a Lon-gevity Expo – in the Twin Cities. He has produced and promoted more than 100 exhibitions to help businesses meet their prospects.

He can be reached at (952) 238-1700 or rick@mediamaxevents.com.

www.mediamaxevents.comwww.expoguys.com