The Small Business Sounding Board

Introducing the Small Business Blog

Betsy Talbot (DelegateNow, Inc.) — Mon, 10 Sep 2007 12:50:10 -0500

Boy, have I missed you guys!

We have been swamped over the last few weeks rolling out our new service packages to small businesses. The response has been overwhelming, and we have sacrificed sleep, good food and Active Rain blogging to get the work done.

Even though we have expanded our service to include all small businesses, that doesn't mean we can't work with you! By definition, you are all small businesses as well. Check out our Small Business Blog for tips and tools on improving your customer service, lead generation, and time management. It will be the same focus as before, just on a broader market.

So, even if you don't see me around here quite as often as before you can still stop by the Small Business Blog to say hello or even subscribe to keep up with our small business news. Hope to see you there!

New Services from DelegateNow

Betsy Talbot (DelegateNow, Inc.) — Tue, 28 Aug 2007 10:48:07 -0500

Have You Seen Us Lately?

Location: Seattle, WA

You know us as a real estate virtual assistant company, but behind the scenes we have been growing like crazy!

When we first started getting calls from small businesses, we referred them all out. After all, we were in the real estate business, right? Well, common sense finally took hold, and we started building a service program to meet the needs of small businesses. After running it under the radar for a few months, we are ready to make it official.

"You may own a small business, but that doesn't mean you have to think small!"

Here is a sneak peak at the new services we will begin marketing on September 1:

*Want a website without the upfront cost? For a monthly fee, we can design it and host it for you, all for about the price of a month's worth of coffee at your favorite shop.

*Need some help with email marketing and lead generation? We can help you design effective and timesaving campaigns to bring in more customers.

*Have you explored additional revenue streams with affiliate and reseller programs? We will investigate the options for you based on your industry and help you decide what products will benefit you and your customers most.

*Customers can be fickle, and we have ways to help you remind them that you are their favorite vendor.

*If you haven't started blogging yet, you should put it on your radar. Your customers are reading blogs, and many have their own. This is a powerful tool that can establish you as your industry expert, and we can help you get started.

Sure, we still offer real estate virtual assistant services, and many of our real estate clients have taken advantage of the small business services as well.

Our favorite testimonial has been "thank you for helping me take my business to the next level." That is really what it is all about and why we are thrilled to add this range of services for you.

Contact Information

Betsy Talbot

800.785.9202

btalbot@delegatenow.com

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Location

3518 Fremont Ave N #549
Seattle, WA 98103

Links

DelegateNow: Small Business Blog

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Profile

Service Area: United States

Service Type: Computer

Market Focus: Small Businesses

Attributes

Benefits of Service

Designed with the small business budget in mind!

Grow your business online without a huge upfront cost

We have been exactly where you are and know the joys and pains of business ownership

We speak plain English - no need to learn technical mumbo-jumbo to work with us

Our services can grow with you

Your price is fixed - we charge what we say we will so there are no surprises

Your contribution to the website is easy - just a simple set of questions about what you do and the look you want. We make it easy!

Clients

Realtors

Property managers

Mortgage professionals

Bookkeepers

Contractors

Healthcare providers

Attorneys

Entrepreneurs

Direct Sales

Small businesses

Network support companies

Medical transcription companies

VFLYER ID: 1206702

What's in Your Bag?

Betsy Talbot (DelegateNow, Inc.) — Tue, 21 Aug 2007 17:33:03 -0500

Do you change bags a lot? Or do you use the same bag to carry your personal and business material and find it impossible to stay organized? Worse, do you always have to hunt for that essential thing that you need *right now* - like a ringing cell phone or keys to your car? I struggle with combining my personal items and business together in one bag, so when I met Debbie Rosemont of Simply Placed I was intrigued by one of the products she sells. It is called Purseket and allows you to easily organize your bag and even transfer your essentials from bag to bag in seconds.

The Purseket comes in 3 sizes, and it basically is a long strand of pockets that wraps around the inside of your bag. It holds your business cards, sunglasses, cell phone, etc., while leaving the middle open for your files or laptop. You can even purchase a drop-in version that has 4 pockets to fit in the middle of your purse. The color selection is good, and prices are very reasonable, from $16-$22. I'm thinking of getting some for gifts this year. But the first purchase will be for me, so I'm no longer scrambling for business cards when meeting a prospective client or hunting for my ringing cell phone.

Whether you use it as a way to organize yourself personally or for business, this is a neat little product that is sure to bring a big return on a very small investment.

Truth in Advertising Includes Your Photo

Betsy Talbot (DelegateNow, Inc.) — Mon, 13 Aug 2007 13:57:43 -0500

Let's face it, we all want to look good. But unless you are 25 years old, you probably don't look 25 years old, and using a picture that is 5, 10, or 15 years old is not doing you a service. Your clients want to know that the way you present yourself is the way you really are. If they see your photo on your website or business card and schedule an appointment, will they recognize you in person?

Last month I met Tara Gimmer of Tara Gimmer Photography in Seattle. We were at an eWomen Network event, and I was fortunate to actually meet some of her clients and see how her photography style added personality to business cards and brochures. Tara was kind enough to follow up with me after the meeting to answer some questions on why business photography is so important.

Tara notes that you should update your business headshots when there has been a significant change in your looks, whether that is a hairstyle change, a weight gain or loss, or just the passage of time.

"As much as you want to retain that fantastic shot of your 20 pounds lighter, 10 years younger self, you aren't doing yourself a service. Your clients want to connect with the real you. A good headshot that captures your confidence and wisdom, professionalism yet approachability, will attract and gain the trust of clients more readily than one that is dated, even if it is really cute."

Below are some of Tara's pointers about business photography.

Tara says one of the biggest mistakes she sees is using photos that were not taken professionally, specifically the shadow on the wall behind you! It sends a statement about one's overall professionalism.
How do you know whether to use a head shot or full-length photo? "If it's to be reproduced on a business card then a head and shoulders shot works best. A brochure promoting your lifestyle? Then let's shoot lifestyle shots doing things that you love. Putting together a direct mail postcard? A full length could work really well for the front with new listing information on the back. I've done full length shots for the bottom corner of letterhead, seasonal shots of a realtor with appropriate clothes and props for quarterly mailers, and shot lifestyle elements like a salsa dancing Realtor's red shoes for his logo."
Tara also recommends using your photo with your signature line on every email.

Tara's final point is a great one:

"New agents should start with a nice professional headshot. As an agent's business develops and their niche becomes apparent they can do shots that would appeal to a particular market. The most important thing, though, is to let yourself shine and be your own best marketing tool. Feeling comfortable and relaxed at your shoot and projecting your ease and confidence will do more for attracting clients than any gimmick. Interview prospective photographers on the phone or in person if it's more involved then a headshot. Find someone you are comfortable with and like. Most of all don't dread the process. It can be fun and an opportunity to learn to see yourself in a new light!"

What's Your Neighborhood Walk Score?

Betsy Talbot (DelegateNow, Inc.) — Fri, 10 Aug 2007 01:41:54 -0500

This is a short post to tell you about a neat tool my friend Ken showed me this week. Walk Score is a website that shows you the "walkability" of a particular neighborhood. It runs off Google Maps and shows you visually where certain types of business are located, which would be a great asset for a relocating client or to help you write ad copy for your listings ("within walking distance to 18 restaurants and 4 parks!")

Regular readers know I love my neighborhood of Fremont in Seattle, Washington. My neighborhood has a score of 91 on the walkability meter, which is a big reason why I have only filled my gas tank 6 times this year. I can walk everywhere!

According to the site, this is how to interpret your score:

90 - 100 = Walkers' Paradise: Most errands can be accomplished on foot and many people get by without owning a car.
70 - 90 = Very Walkable: It's possible to get by without owning a car.
50 - 70 = Some Walkable Locations: Some stores and amenities are within walking distance, but many everyday trips still require a bike, public transportation, or car.
25 - 50 = Not Walkable: Only a few destinations are within easy walking range. For most errands, driving or public transportation is a must.
0 - 25 = Driving Only: Virtually no neighborhood destinations within walking range. You can walk from your house to your car!

Check out this fun tool to see the Walk Score of your home or listed properties.

Cooking Up Bigger Profits

Betsy Talbot (DelegateNow, Inc.) — Wed, 08 Aug 2007 11:28:29 -0500

Have you ever thought of hiring a personal chef? Most of us think of Oprah or other ridiculously wealthy people when we think of personal chefs, but I've just had the most interesting meeting that has convinced me otherwise. Not only will you want to use this service personally, but you can actually use it to build your business.

"So, how is someone who cooks for a living going to help me sell real estate?"

Karen Rosenzweig of Incredible Chef has the one-two punch - she is a personal chef who cooks up to a month's worth of meals in a client's home AND she has a public relations background. We just had an amazing coffee date where we discussed more ideas than I can even fit into this article (if I'm working on brevity, that is). I love talking to business owners who are truly passionate about what they are doing and how their business not only fills a void (say, a closing gift), but also creates additional income sources for clients. Karen is one of those people.

Karen's rate is $275-300 a day plus the expense of the groceries, so how you use her services is up to you. A few suggestions from Karen:

Throw a housewarming party for your clients and invite all the local neighbors plus their friends. It is a great way for you to introduce your clients to their new neighbors as well as pick up additional business.
If you've sold a couple of homes in an area recently, you can book Karen to cook for your party and have neighbors and friends caravan to both homes, having appetizers at one home and coffee and dessert at another. (Karen will cook everything at one place.) This gives you even more exposure for the same price.
Give your new homeowners a closing gift of personal chef service. Some of Karen's biggest clients are single men with demanding jobs, and these are the same clients who may be looking for a high-end condo from you.
Have you thrown a client appreciation party lately? My Realtor(R) team does this every year and they always have over 100 people attend. As long as you have the party in a place with a kitchen, even a small one, Karen can cook for you.
How about your annual office party? For holidays or even after a community service day, having someone do the cooking can let everyone enjoy the party, even the host and hostess.
Do you work with a builder? Hosting an open house for a high-end property is the perfect setting for a personal chef. If you are a builder, this is a great gift for your clients who have just built or renovated their home.

Karen's services start with a home consultation and questionnaire. She goes over the likes/dislikes/allergies the client may have as well as views the kitchen to make note of how best to utilize the space for preparation as well as freezer storage space. Remember, she brings all the groceries PLUS the pots/pans and utensils she will need to cook. She finds out jow many servings the client wants per meal, and then she begins developing recipes. The neat thing about this is that her training prepared her to cook for storage, so that when you defrost and heat your food it tastes like it should. This means things like oversaucing in preparation so it comes out okay when reheated.

On cooking day, Karen purchases the groceries needed for the meals, comes to your home with her handy tool cart, and begins preparing and storing food for you. When you come home from work, you will have food in your freezer and a clean kitchen. Set it up just like you do your housekeeper or lawn service and you never really have to think about it again (see, you can be just like Oprah!). If your market has a lot of busy professionals, especially 2-income couples with no children, this is a fantastic gift. Karen even has a worksheet that shows many people actually save money by hiring a personal chef, and you may be surprised to see this. I joked with her that it is much like virtual assistants - people can't imagine how they can afford one, but properly used, you can't imagine how to live without one!

As I've said before, make sure your closing gift has the staying power to make your clients remember you. Whether it is a small piece of art or the memory of a great party, always keep in mind that your closing gift is part of your marketing budget and treat it as such.

If you don't live in the Seattle area, you can find your local personal chef through http://www.hireachef.com/, a service of the United States Personal Chef Association. Although many people probably do operate chef services from their homes, you should really count on someone who is part of a governed body to make sure they operate within sanitary guidelines, which in Washington means cooking in a client's kitchen or a commercial kitchen.

Even though this article has already broken my brevity rule, I've left out a lot of detail in what we discussed. Feel free to contact Karen directly if you want to discuss her services, and please check back to let us know how your first housewarming party goes!

Closing Gift Ideas - Make an Impact and Save Time

Betsy Talbot (DelegateNow, Inc.) — Wed, 01 Aug 2007 22:04:40 -0500

A closing gift is typically given to show appreciation for your client's business. By combining this with a little bit of marketing savvy, you can give your clients something that will help them remember you long after the sale. My own Realtor(R) did this with a small piece of framed art from a local artist and I think of her every time I look at it. For this and many other reasons, she is the one I refer my friends to and the one I will call when I'm ready to move.

As the owner of a virtual assistant company, we help clients buy closing gifts often, and we are always on the lookout for quality products that save time for our clients.

Recently I came across two companies that are now on my roster of gift services and wanted to share with you.

Magic Envelopes is a company that provides gift catalogs. Each catalog is in a specific price range and theme, and the gifts themselves are not priced in the catalogs. Your client will not know how much you spent. For instance, you could send a catalog of home gifts and let your client pick what they most want for their home after they have settled in from the move. Another catalog has spa products, for example (pampering after the move!). There is even a newlywed catalog. There are over a dozen of these catalogs to choose from with dozens of items within each one. Best of all, you don't have to shop, wrap, or deliver the gift, and it comes in a beautiful envelope from you. Shipping is included in the pricing as well, and there is a 180-day satisfaction guarantee.

The gift catalogs range from $25 to $500, the products can be as simple as a nice picture frame or as elaborate as a vacation package (airfare not included). If you purchase a lot of gifts you can buy a membership for $48/year that will give you wholesale pricing on all the catalogs, so your gifts will cost even less (or you can upgrade and purchase nicer gifts). Jen Sagel is the owner of Magic Envelopes and works with Realtors all the time. She will help you design a closing gift system that both pleases your clients and simiplifies your life.

(Virtual Assistants, this is also a great tool for you to use when coordinating closing gifts for your clients.)

Blessing Project is another great discovery. This company buys handmade paper, stones, and other media from women's villages and cooperatives around the world and crafts them into beautiful three-dimensional cards suitable for framing. You can see a gallery of the cards at The Blessing Project website, and cards range from $19 to $195 (large card in shadowbox frame). The small shadow box is 6-1/2 x 6-1/2 inches and is $49, which seems like the perfect price and size. The only drawback to Blessing Cards is that they do not have online ordering yet, though you can download the form and fax in your order.

Remember, if you choose to give a closing gift, think long-term. What can you give that will keep your client thinking of you as they enjoy their new home?

Virtual Measuring Tape

Betsy Talbot (DelegateNow, Inc.) — Fri, 20 Jul 2007 00:35:04 -0500

As most of you know, my business philosophy is all about using services or products for repeatable tasks and allow you to focus on the creative parts of your business, parts that only you can do. So when I find something that follows that mantra I want everyone to know about it, and this is one of the biggest timesavers I have seen in quite a while.

Get ready to throw away your measuring tape.

How much of your time is spent measuring spaces for your clients? Do you ever drive to a client's home, take the necessary measurements for a quote or project, and then get back to your office and find that you have mislabeled or forgotten to measure something?

On a personal note, wouldn't it be great to have a photo of your room along with dimensions when shopping for furniture, rugs and window treatments? Or of the exterior of your home when shopping for outdoor lighting fixtures, shutters, or even shrubs and flowers? Raise your hand if you have ever miscalculated when buying paint and either had a full can of custom, non-returnable paint left over or had to run out to the store at the last minute on a Saturday evening (saying "please, please, please still be open!") to get enough to finish the project.

My friend Ken alerted me to a great new software called iPhotoMEASURE (he always knows about the cool stuff - sorta like the Seattle version of Jeff Turner). The concept is just amazing. By placing an small square object called a DigiTarget within the frame of a photo, you can measure virtually anything...virtually! The DigiTarget is the "known" measurement that enables iPhotoMEASURE to perform measurements of everything else in the photo. You simply place the DigiTarget somewhere in the room, take the picture, upload it to your iPhotoMEASURE software, and you instantly have measurements of everything in the room.

There are several articles online, mostly in contractor magazines, discussing the benefit of this tool for quoting projects. But on a smaller scale, it can be just as useful for

Designers
Stagers
Remodelers
Realtors
Homeowners
Landscapers
Painters

And at a price just under $100, it will pay for itself with just one job for most of you. I am in the process of designing and installing a closet organization system as well as moving my home office to a new room, and I can already "picture" how this is going to work for me. There is a great tour on the website and several articles and links to give you more information on how this can work for you. Check it out and let me know what you think.

Contractor Referral Networks

Betsy Talbot (DelegateNow, Inc.) — Fri, 13 Jul 2007 14:50:11 -0500

Raise your hand if you have a list of reliable contractors who know you and will go the extra mile to make sure your clients are happy with their services. Keep your hand in the air if this list is more than 10 people and includes everything from air duct cleaning to window washing. Still a few hands? Okay, have you checked the licensing, insurance, and both personal and professional references for these contractors along with the Better Business Bureau? Do you act as a liasion between your client and the contractor throughout each home improvement project to make sure your client is happy? And do you survey your clients after each project to make sure the contractors are still as good as the day you put them on your list?

I don't see any more hands.

Well, don't let that worry you. You are Realtors, not contractors, and there is a better way for you to offer top-notch contractors to your clients without a big time investment on your part.

Recently I spoke to Jill Hanken of Homeworks Northwest, LLC in Seattle. I heard about the company from someone at a networking event, and they just raved about the service they received. Since our company works with contractors on behalf of Realtors, I had to check it out. Jill and her partner Ricki have developed a referral network of contractors that have gone through a rigorous screening process, face-to-face interview, and continued reference checks after each and every customer. They have the same dedication to your client that you do along with the time and resources to manage the process.

Do you have a lot of relocation business? This service is perfect for those clients. Whether they need a move-in cleaning, new paint in the dining room, or even a remodel, this service offers them the security that the contractors have all been screened and a third party will be overseeing the project. It takes some of the stress away from moving, and Jill has even managed a project with an international client so their home was ready when they arrived. It is really one-stop shopping from cleaning to remodeling.

This is the way the system works:

The client fills out a form detailing the work request on the Homeworks Northwest website
Homeworks Northwest evaluates the request and makes a recommendation for a contractor
Homeworks Northwest sets up the initial appointment with the contractor and the client
Once the bid is submitted, Homeworks will follow up with the client to discuss the final decision, and if the contractor is hired Homeworks Northwest will keep in touch with the client throughout the project to insure satisfaction
Clients are surveyed after the project is completed

Jill says 90% of the time women make calls to set up contractors for services around the home, and they find great comfort in knowing that the they have been thoroughly screened. In addition, the client saves time calling around for estimates and using price as the only criteria for getting a job done. In fact, Jill says her contractors are not always the cheapest, though they are all within industry standards. As with most things, you get what you pay for, and using a professional to make repairs on your largest investment is a wise idea.

Homeworks Northwest is a family business, and Jill said this is what makes them stand out from national referral networks. They know each and every contractor on their list and have met with them face-to-face. They live in the area they service and use many of the contractors themselves. Jill recommends using a local service when you can because of this.

Jill's company services the greater Seattle area and has a goal to expand further in Washington State. If you do not live here you can find a similar company in your town by googling "contractor referral network in (your city)." Once you find the network you want to use, add their business cards to your new homeowner packets or attach them to your checklist of things to do before you listing a home. You'll be confident knowing you are providing excellent resources, and you will save a huge amount of time in making sure projects are completed and your clients are happy.

Managing Your Cost Centers for Increased Profit

Betsy Talbot (DelegateNow, Inc.) — Fri, 29 Jun 2007 11:00:09 -0500

If someone took away all the administrative tasks from your day, what would you do with your time?

If you have studied business or worked in the corporate world, you probably know the difference between cost centers and profit centers. If not, it may sound like a bunch of accounting mumbo-jumbo that has nothing to do with you. You couldn't be more wrong. Everyone who has a business, whether it is just you as an individual Realtor or an entire brokerage, should know the difference between cost centers and profit centers and how they interact with each other.

A profit center is intended to do just that: generate a profit. In terms of a large business, a profit center may be a product or a service, and typically there are several. A cost center, on the other hand, is an area of the business used to support the profit centers in reaching their goals. An example of a cost center is an advertising department or an IT department.

You probably spend a lot of time thinking about profit and how to make more of it. We all do. But do you think about how cost centers can be used to drive up your profits? Many of us run our businesses on a tight budget because we have been taught that is the wise thing to do. I agree with this completely, but my definition of a shoestring budget may be different than yours.

Let me paint a picture: John has been a real estate agent for a few years and is doing pretty well. He has a few listings each month and his referral business is growing. John mails out a newsletter each month to his sphere of 200 people, and he prides himself on extraordinary customer service with each transaction. John is doing well, but he is completely wiped out at the end of each day and cannot imagine how he will keep up if his business continues to grow. Nice problem to have, huh?

John's profit center is doing well. He is selling houses, but he is limited in the number he can sell because of the expense of his cost centers. When John prints his newsletters on his personal color printer, it takes him several hours. He then has to fold, address, and mail them. This activity is now taking about a day and a half to complete, not to mention the cost of the printer cartridge and heavier stock paper. In addition, he spends quite a bit of time each week calling or emailing his clients regarding their ongoing transactions after he has checked in with the buyer's agent, the lender, the inspector, the appraiser, the handyman, etc. John can't work on growing his profit center because he can't get away from his cost centers.

John doesn't want to sacrifice customer service, and he shouldn't. What he should do is make a list of his activities each and every day for at least a week. Then divide those activities into cost centers and profit centers. This is a great exercise in determining where all the time goes.

For example: John spent 12 hours last week putting together his newsletter. Sure, he could do other things while the newsletter was printing, but because he was using a personal printer and not a heavy-duty one, he had to stick around his office to make sure the printer didn't jam with the heavier paper and to make sure the color cartridge didn't start drying up before the printing was done. John also spent quite a bit of time on the phone for two of his transactions, and because he was in his car during some of these calls his notes were scattered and he had to follow up on them via email when he got back to his office. It didn't help that a couple of these critical calls came in while he was showing a home and interrupted his time with a buyer.

If John outsourced his newsletter to a service like The Agent Guide he would gain back 12 hours of time per month. The price of the newsletter is $42 per month for 200 subscribers. That price is about what John's hourly rate figures to be, so by outsourcing this task he just decreased his cost from $484 (plus $82 in postage and a few dollars in paper and printing cartridges) to $42. Even if he still wants to write his own newsletter, by outsourcing the design and printing to a virtual assistant or moving from paper to email, he will save considerable time and money. Either way, John just gained hours of valuable selling time.

By using a virtual assistant to coordinate his transaction, John is free from the hassle of scheduling appointments and monitoring deadlines and can concentrate on selling to new clients. This doesn't mean that John is not involved with his current clients; on the contrary, what this does is make sure that the time he spends updating his clients is productive because he has all the information he needs from his virtual assistant and can work on the finer points of client service, like building a long-term relationship. He spends his time working only on issues that his virtual assistant alerts him to, not the basic administrative functions that keep him from valuable selling and customer service time.

There are many more examples of using your cost centers effectively, such as partnering with a home stager or adding a buyer's agent to your team. The thing to ask yourself is not how to save dollars, but how to make dollars. Strategically managing your cost centers by thinking in terms of growing your profits instead of keeping costs low will transform your business and your life.

Doubtful? Try listing your activities every day for a week and categorizing them as cost or profit activities. Then think about what you could do with your time and energy if you delegated some of your cost centers to another person or service.

*Thanks to David Podgursky, who inspired this post with a call out of the blue Wednesday. Nice chatting business with you, David.

Effective Email Marketing - Done For You!

Betsy Talbot (DelegateNow, Inc.) — Tue, 26 Jun 2007 13:29:48 -0500

As you all know by now, I am a huge believer in systems and processes to make life easier and more profitable. Last week this idea really got put to the test when I found a product offering better than my own. Yikes! Should I try to increase my skill level and elevate my systems to match this product offering, even though it is only a small part of my overall business? Or should I partner with this company and offer the product directly to my clients?

Well, the choice is clear. There is no need for me to try to reinvent the wheel when there is a great one already out there. The fabulous new wheel I'm talking about is the "Done For You" email newsletter marketing system through The Agent Guide. Each month, Irene and Michelle deliver a quality, personalized email newsletter with your picture and contact information directly to your client database. The articles offer information on home maintenance, upgrade tips, and new technologies. You won't believe the price, and when you see the quality of the newsletters you REALLY won't believe the price. In addition, they are offering a 60-day no-risk trial. I can't beat them, so I'm going to join them as an affiliate.

You can see a sample newsletter as well as how to track responses from your database. The Agent Guide uses the same email newsletter marketing system I do, so I know it is reliable. This is the first time I have ever partnered with another company to provide a product, but when you see the quality and ease of use you will see why I jumped on it.

This is living proof that I believe in the power of delegation. I know I can write a newsletter (and I do, every month, for my clients), and I know you can, too. But I cannot write one for consumers as well as The Agent Guide or manage the database with the ease they can because this is their core business. And I know your time can be spent in more effective ways. So I will leave the heavy lifting to them and concentrate on my core service offerings and recommend that you do the same.

Remember, "use your time wisely!"

What Drives Readers to Your Blog?

Betsy Talbot (DelegateNow, Inc.) — Thu, 14 Jun 2007 11:02:32 -0500

How many of you track the statistics of your blog? Do you know how many people are visiting each day, where they came from, and what they found most interesting about your blog? I've been tracking for about a month with www.mybloglog.com in addition to the view/click information already available through Active Rain.

The Mybloglog analytics show me what directed the reader to my blog. For instance, a Google search of "virtual assistant blog" on June 7 directed a reader to my blog. That makes perfect sense since I own a virtual assistant company. The phrase "project blogger results" on June 8 also took them to my blog for guest hosting the Carnival of Project Blogger last week. Again, that makes sense.

What has entertained me over the last month are the odd phrases and sites that bring readers to me, the ones that take a minute or two for me to figure out. For instance, every couple of days I get some variation of the phrase "find my wife a job" from search engines. Is this the same guy getting more and more frustrated each day, or is this really something that many husbands think Google and Yahoo will be able to solve for them? This phrase directs the reader to an article titled Can You Find My Wife A Job? that I wrote about Realtors partnering with recruiters to provide job placement assistance for the spouse of the relocating buyer. Karen George is on to something when she recommends using keywords in titles and avoiding catchy phrasing. I probably would have enjoyed a real laugh if I had analytics installed when I wrote the DISC sign communication series titled Hey, Baby. What's Your Sign? Okay, Karen. Lesson learned.

The search phrase "premed dropout" brought a reader to my review of Seth Godin's book, The Dip, which gives an example of a premed student and the make-it-or-break-it point of organic chemistry. My apologies to the premed dropout searcher who found out that Seth Godin agrees with his parents that he should have anticipated the hard work and stayed in school.

A few other interesting search phrases:

American Idol target market
cheap virtual assistant (please tell me I never used the word "cheap"!)
mom
laptop skin chemistry
do I need to bring a resume to interview with a real estate broker
purge messy life at home

If you aren't keeping track of your readership through some kind of analytics program like Google Analytics or Mybloglog, it is easy and cheap (there's that word again!) to do. Besides giving you valuable information about what readers view most on your blog in both a detail and summary format, you'll see where they are coming from and clicking to and maybe even get some entertainment out of the process.

If you are tracking, what is the funniest search phrase that ever directed someone to your blog?

Technorati Profile

Who's on Your Team?

Betsy Talbot (DelegateNow, Inc.) — Tue, 12 Jun 2007 00:52:01 -0500

Over the last several months I have blogged about many things that can enhance your business, including communication topics, the importance of documentation in a transaction, and knowing your target market. In addition, you've read about some neat ways to market yourself, such as laptop skins, and ways to network with other professionals in your area to grow your business and offer added value to your clients, such as recruiters.

There are many more ideas waiting to for their chance at the blog, and you will be reading those over the next few months, but the great tip I want to share with you today is my main business: delegating your routine tasks so you can focus on growing your business.

First, let me tell you a little bit about my background and why I believe in systems and delegation. For 17 years I worked in the healthcare industry providing medical records documentation to clients ranging from single practitioners to some of the most well-known hospitals in the United States. When I started in 1989, I was using an IBM Selectric typewriter and a color-coded paper chart filing system (I know, I know - hard to believe I could be old enough to have seen one of those ancient machines!). When I left, I helped implement and manage complex workflow systems with remote printing, electronic signature, electronic patient folders, and voice recognition, not to mention a virtual staff to support those bells and whistles. While that is a lot of specialized information to learn, the truth is that the process is basic and can be applied across the board to any industry:

Define a process to fit the need
Create a system to support the process
Continually monitor and refine the system using hard data

When I decided to leave corporate America and start my own business, I made the decision to change industries, since I had already worked for the biggest and most successful company in my field. In my new business as the owner of a virtual assistant (VA) company for real estate professionals, I applied the same logic I had used for years. You can use this logic, too.

What do you want to accomplish with your business, and what does that look like on paper?
How will you accomplish that picture you just drew?
What data points will tell you whether you are successful with your process?

One important way to realize success with your system is to partner with a virtual assistant to make it happen. How much time are you spending on administrative tasks today? Is it hurting your sales to function as your own administrative assistant? A properly utilized assistant is an investment in your business, not an expense. But to make the most of a virtual assistant, you have to first define your goals and develop your system. Many VAs will help you develop systems for a reasonable fee or provide valuable feedback on your systems based on their experience with many agents in a variety of different markets.

My process looks like this:

A client and I come to an agreement about the services needed and how they will be done. This is verified in writing for complete understanding on both sides.
The customized client "checklists" are stored in an electronic file on our collaboration site that is password-protected and available only to the client and the VAs working for him or her.
As the client needs us, either on an ongoing basis or an as-needed basis, we go to that checklist and perform the tasks exactly as requested every single time.
Clients are surveyed regularly to insure satisfaction, and we meet with clients regularly to assess the business direction and growth for proper planning of future support.

When it is time for a real estate professional to add a virtual assistant to the team, we have a proven system to make that successful.

Who's on your team?

Bragging 101 - Live in Seattle!

Betsy Talbot (DelegateNow, Inc.) — Thu, 07 Jun 2007 13:08:51 -0500

Cathy Goodwin, Ph.D., content strategist and owner of Copy-Cat Copywriting, will be leading an interactive class on Bragging 101 in the Northgate area of Seattle. I've previously written about the teleseminar version of this class in Bragging 101 Reviewed, and I'm excited to attend the 3-hour class on June 14th.

Cathy is a no-nonsense professional who has made a great business out of selling a service, which is what we all do here. She knows the difference between marketing a product and a person. Cathy has a unique perspective in self-promotion that has served her well, and the recommendations she gave me at the last class have brought about great results. I can't wait to see what else she has in store.

If you want to attend the class, the fee is a very reasonable $49 for a 3-hour session, which includes hands-on work with a project you bring to class (I'm bringing copies of my website pages for help on content).

If you decide to attend please look me up. I'll post again after the class to let everyone know the outcome of the changes Cathy recommends.

Active Rain Celebrates in Seattle

Betsy Talbot (DelegateNow, Inc.) — Mon, 04 Jun 2007 11:25:01 -0500

Active Rain's one-year birthday celebration was held under the shady canopy of trees at Magnolia Park on a flawless Seattle summer day. We had a great turnout, enjoyed delicious food (I am now addicted to Lydia's "crackamole"), and talked to each other for hours on Saturday afternoon. Enjoy the attached album, and feel free to add your own comments to the pictures. I spent so much time talking that I neglected to take as many pictures as I should have. Enjoy!

Active Rain BBQ Photo Album

*Be sure to view the album in slideshow mode to see the comments.

Carnival of Project Blogger - Week #4 Results

Betsy Talbot (DelegateNow, Inc.) — Mon, 04 Jun 2007 11:11:57 -0500

First things first...you guys really have some great blogs! Thank you to the Real Estate Tomato for sponsoring this Carnival of Project Blogger and allowing me to host Week #4.

I purposely waited until after the deadline to begin reading the entries, and because of the Active Rain BBQ on Saturday I didn't get to them until Sunday. There initially seemed to be a theme of natural disaster with Ines writing about hurricanes and Julie about tornadoes, but Teri mixed it up with some home staging tips and Tisza and Mary both gave historical info on their communities. Jackie gave some excellent advice to home sellers about changes in Florida contract law and how important it is to make sure any improvements done to your home (even before you bought it!) are properly permitted before you decide to sell.

To recap the rules, the submissions had to be in by midnight on Friday, and none could be over 7 days old. Because of those rules, I have to eliminate Jackie (May 21 post) and Tisza (May 22 post), even though they were both excellent articles and turned in on time. Future judges may want to check the submissions as they get them to make sure the dates fit within the rules - I wish I had done that so I could tell Jackie and Tisza to submit something else since they were some of the first emailed entries. I was so focused on not judging til after the deadline that I overlooked this.

There were only 4 left in competition because of this, and they are listed below from 1 to 4. All 6 submissions were very good and left me with the impression I need to step my game up a little bit!

My favorite was by Ines Hegedus-Garcia: Sales Tax Break for Hurricane Preparation. This is valuable information to a consumer from both a safety perspective (though I'm sure everyone in Miami knows about hurricane season) and saving money on essential items. Anyone who has lived somewhere with extreme weather knows how prices can go up during or in the aftermath of a natural disaster, and helping consumers avoid that is a good thing. The only complaint I have is that the picture next to the list of tax-exempt items is not displaying properly.

Julie Ferenzi's post on "A Tornado Warning Has Been Issued for the Area...Please Find Your Way to the Junior's Department!" made me think I was right there with her in the mall. I can imagine that all the local residents reading her blog can picture themselves there too (or maybe were there!). It made her really seem like a part of the community and relating to them in a humorous way about a threat they live with during tornado season every year.

Mary Pope-Handy's article on What About Forbes Mill? was an interesting look at the history of her community and very well written. Mary also gets bonus points for going out to the other blogs in the carnival and offering comments. We all know a great way to improve your blogging voice is to read and comment on other blogs, and Mary is an excellent example of this.

Teri Lussier's blog on It Don't Mean a Thing if it Ain't Got that Swing gave some great homeowner tips for staging with a shout out to Craig Schiller. I was expecting more information on the specific staging tips/challenges for brick ranch homes as a new spin on the topic of staging, though. Still very good information for consumers.

Thank you to all the apprentices who submitted entries for the Carnival of Project Blogger. I had a great time reading your articles and appreciating the work you have put into the design and content of your sites. You all have lucky consumers to have the opportunity to work with agents who obviously care very much about their communities and their profession.

Carnival of Project Blogger - Week #4 Submission Request

Betsy Talbot (DelegateNow, Inc.) — Wed, 30 May 2007 12:37:02 -0500

Welcome to week #4 of the Carnival of Project Blogger sponsored by the Real Estate Tomato. The past three weeks' judges have done a great job, and I have big shoes to fill this week! (see Justin, Debi, and Nick's reviews).

Because I love the variety of perspectives from each of the bloggers I will not be requiring a theme for this week, especially since we should be blogging for our target audience and not necessarily a judge. If you need a subject to get your blogging started this week, though, I would love to hear more about your target audience - who do you serve and what special needs does your target audience have in your market? How do you meet those needs?

Send all submissions by Friday, June 1, at 11:59 PM Pacific. The submission address is btalbot@delegatenow.com with "Carnival of Project Blogger" in the subject line. I'll be posting results on Monday on my DelegateNow blog in the Project Blogger Group.

And if any of you are coming to the Seattle Active Rain picnic this Saturday I'd love to meet you!

Submission Guidelines
1. Apprentices may only submit one article to the carnival host per week.
2. Article must be no older than 7 days
3. Apprentice must include: Name, Email, Blog URL, Article Title, Article Permalink
4. Apprentice must submit article no later than FRIDAYS, 11:59PM PST.

**I'm asking Nick M to post this to the Project Blogger group as I do not have rights to post there yet. Thanks, Nick!

Organize Your Life and Fatten Your Wallet

Betsy Talbot (DelegateNow, Inc.) — Tue, 29 May 2007 10:40:36 -0500

Have you ever watched television shows like Clean House ? The homeowners live in a complete mess, and the show's host comes to the rescue with a designer, yard sale expert, and professional organizer. You know people have to be in a desperate situation to allow a camera crew in on their mess, and it is always amazing to see the transformation to both the home and the homeowners. Lately I've seen shows with young people, old people, rich people (celebrities!), and poor people. Clutter affects us all, even those who are organized enough to manage it.

The last episode I saw was a teacher who was transitioning into full-time real estate. His wife was a stay-at-home mom, and they had two small children. Their house was simply awful. Toys and clothes everywhere, and the desk he used for work allowed him about 6 inches of space to be productive. What kind of career can you grow in that kind of environment? When all was said and done, the owners learned that possessions are often kept as a reminder of a special time or person, and letting go of the possession does not mean letting go of the memory. By letting go of the physical weight of the past, he was able to have a workspace and home that was all about his family's future.

Isn't that a great lesson?

As a virtual business owner, I never really get away from my home or my office for long periods of time, which means that any disorganization in either space affects my life. And while living in Seattle is fabulous, the smaller home that allows me to live in such close proximity to all the city has to offer is a challenge to organize.

When is it time to call in an expert? I recently met Melissa French of Time In Excess, a professional organizing firm in Seattle. Melissa has experience not only in home organization but in records management and office organization, having spent many years with the worlds largest records management company.

Melissa said something to me over coffee that I haven't been able to get out of my head - she enjoys coming into to her home and office because it energizes her. Can you imagine a better place to work and live than something that stimulates you to be a better person? Does your home or office give you the same feeling?

And in an even better line of thought, can your clients use a professional organizer to help them prepare for the next move? Imagine how much better the home will show if a professional organizer can help a family purge first and prepare for a move. Having moved cross-country just a year ago, I can see where the professional organizer fee would be more than paid for in the savings from the moving company!

Melissa graciously offered the time to answer some questions about organization and the real estate industry. She informed me that executives spend an average of an hour each day looking for information they have misplaced or do not have a place for. What would you do with an extra hour each day?

An overwhelmed feeling, or an "I don't know where to begin" thought is a great indicator that a professional organizer can help. Melissa says that working in a cluttered space has a huge negative psychological effect on people and many are not aware of the extent of this. As embarassing as it may be, Melissa also recommends that you be honest with yourself and the organizer. Do not "clean up" before the organizer gets there. Professional organizers have literally seen it all, and knowing the full extent of your problem will help them resolve it for you.

Speaking specifically to real estate agents, Melissa recommends partnering with a professional organizer in your area as a pre-listing step in the home sale process. You cannot properly stage a home with clutter, and some professional organizers also work as home stagers (as does Melissa). Providing this service or recommending it to your clients to help them both prepare for the sale of their home and streamline the move to their new home can set you apart from your competition. If you decide to offer it as a service to your clients, you may be able to negotiate a deal with a local organizer to pay for her services when the house sells.

Some final thoughts from Melissa on the benefits of an organized space: "Having a clean, organized space has unlimited benefits on productivity and overall happiness. Imagine the difference of walking into a disastrous space and a clean organized space - which one would you rather have? Ask your professional organizer about new habits to form to stay organized, such as opening and sorting the mail each day, responding to and filing all emails each day, etc."

After watching Clean House and talking to Melissa, I've decided it is time to move my office to a better room in my home and purge some of the possessions that may be keeping me from fully living in the present and future.

To contact Melissa French in the Seattle area, check out her website. To find a professional organizer in your area, go to the National Association of Professional Organizers website and search under your zip code.

The Best Virtual Tour Ever

Betsy Talbot (DelegateNow, Inc.) — Tue, 22 May 2007 12:08:36 -0500

I've been watching the greatest virtual tour ever on The Discovery Channel. Planet Earth is a series of one-hour shows about parts of our world, such as mountains, caves, deserts, and oceans. The images captured are simply amazing, and I've been able to see snow leopards hunting in the wild, the tops of the world's greatest mountain ranges, and the wildlife that live among the largest trees in the world. The visual images are stunning, and the voiceover is done very well by Sigourney Weaver.

If you have not had a chance to catch this virtual tour of the real estate we all live on, check out the viewing schedule at The Discovery Channel and view clips from some of the shows. You can also rent the series at your local video store.

I hope you enjoy this series as much as I do!

Screensaver Staging - Free!

Betsy Talbot (DelegateNow, Inc.) — Mon, 21 May 2007 18:43:01 -0500

How can a laptop screensaver help you sell a home? Well, maybe it won't make the sale, but it will help the potential buyers visualize themselves in the home. How? Let me show you.

Way back in the early part of this century, savvy homeowners would put seasonal pictures of the home near the fliers and information sheets. This let the potential home buyer see what the house looked like in the different seasons and showcase possible amenities that could not be seen at that time.

For instance, when I was shopping for a home in Massachusetts a few years ago, it was this time of year. Spring in the Northeast is gorgeous, but nothing can hold a candle to the vibrant color of fall. It was a great draw to be able to look at a home with budding flowers and then see pictures of what it would look like at Halloween, and again in winter. For a buyer dreaming of a big family Thanksgiving in a new home, these pictures are another way to draw them in.

Now, speed up to 2007, where almost every home has a computer with a screensaver. Not only can you show pictures of your home and the view from your home during the four seasons, you can also show views of your home during a party (if the home is well-equipped for entertaining) or during a backyard BBQ if that is a strong selling point of your home. If you live in a building, you can showcase the amenities, such as the gym, movie theatre, party room, or common deck.

You can do all this on the seller's laptop by using digital photos as a screensaver slideshow. As buyers walk through the home, they can easily see the amenities not readily visible to them that day. They can imagine parties at their new home, or see how great the view will be for July 4th fireworks. Not only that, but your sellers will be advertising the amenities of the home every time they take their laptop out for business.

It is a very small thing to do that does not cost a dime, but it can be very striking to someone walking through a home. I saw this recently at the home of some friends and it drew my attention immediately, even though I had been to their home many times before. They told me it was a recommendation from their agent, and because they move every few years, they were making an effort to take more pictures of their home year-round for this purpose. They used a series of about 15 photos for the slideshow and each photo was up for about 2 seconds.

There are many programs out there to help you develop your screensaver slideshow. My favorite it Picasa by Google, which is free (mainly because I use it to organize my pictures anyway).

If you have tried this with your home sellers, let us know how it has worked out for you. I just couldn't believe such a simple *free* idea could make such a big impact. I'm starting a "home sale pictures" file in my computer now!

Photos taken last summer from my private, rooftop deck - the best feature of my home!

Help Consumers Decide: Full Service or Do-It-Yourself Home Sales

Betsy Talbot (DelegateNow, Inc.) — Mon, 14 May 2007 21:57:46 -0500

After last night's 60 Minutes segment on the difference between Redfin's online flat-fee service and traditional full-service brokerages, real estate blogs have been hopping with reactions to the program. For those who have not yet had a chance to view the program or read the transcript, Leslie Stahl interviewed a couple who sold their home through Redfin, the owner of Redfin, and a traditional full-service real estate agent in Seattle.

While I agree with other real estate bloggers that the piece was biased in favor of Redfin and not the best example of consumer reporting (how many of you wish you only worked a few hours on each transaction and that you kept a 6% commission each time?), it does raise an important point that may be getting lost in all the commentary about bad journalism. No matter what you think about online flat-fee brokerages, they are here to stay. No matter how Internet savvy consumers become, there will always be a place for traditional agents. That being said, how do you market yourself in this environment when consumers have such a wide variety of options?

Don't fight a battle you cannot win. A flat-fee service cannot usually win on the service front, and a traditional agent cannot usually win on the cost front. Know your strengths.
Know your target market. If you are a traditional agent who is an expert in your neighborhood and market, do you really want a seller who doesn't value that expertise and worries more about the cost of the listing than the potential net gain? If you are a flat-fee brokerage, is a high-touch, low-tech seller the best customer for your business model?
Think like a consumer. There are times in life when a flat-fee service might be recommended to a seller to come out even, and there are times when it is best to hand it over to an agent to manage completely. As consumers, my husband and I have sold homes through both types of services (though not specifically Redfin), and each time the decision was made based on our personal circumstances. An FSBO or flat-fee MLS listing might be the way to go to save money when there is not a lot of equity in the home due to a short stay and declining market. For a relocation, an agent with excellent connections to a moving company and other amenities can be a lifesaver. What is your message to consumers about your service and when it is right for them? Is this information available to them in your listing presentation or website? Are you able to answer their questions objectively?

This whole discussion reminds me a lot of the idea of using a virtual assistant versus doing everything yourself. Yes, you will save the cost of paying an assistant if you never hire one, but what potential net gain have you lost by spending your time on administrative tasks rather than your core business? Yes, you can do most of these tasks yourself, but can you do them as quickly and efficiently as someone who does this for a living? Generally, your volume of business will determine whether you do the administrative work yourself or outsource it to a company like mine. Consumers think the same way.

This isn't a plug for hiring a virtual assistant, just another viewpoint on the discussion from someone who has sold homes with both types of services. Don't fight something that is here to stay. Instead, spend your time educating your consumer so they make the right decision for them and you attract the client that is right for you.

Business Advice from Mom

Betsy Talbot (DelegateNow, Inc.) — Sat, 12 May 2007 11:40:32 -0500

In honor of Mother's Day weekend, I'd like to share with you how moms in general, and mine in particular, have trained us to be successful in business.

"Have you finished your homework?" Moms know the importance of education, and successful Realtors(R) and other business professionals know that continuing education is key to career growth, whether it is formal classes or reading business books on your own. My mom put education above everything, so as a kid I knew that in order to play with friends or enjoy activities I had to do this first. As an adult, it is a habit, and because of that I have more financial freedom to play with friends and enjoy activities. Thanks, Mom.
"You can play at her house after I meet her parents." Moms know that who you associate yourself with will determine a lot about your future, and they want to make sure their kids are hanging out with other good kids in a safe environment. As adults, we tend to associate ourselves with people who are like us in our personal lives (married with children, single and dating, DINKS, etc.), but at work we don't always get the luxury of choosing our office mates or coworkers. Who you associate with professionally can significantly impact your reputation and the safety of your career. As Amber Riviere says, 'beware of pirhanas.' Your moms said it, too. "If everyone wanted to jump off a cliff would you do it, too?"
"Did you clean your room?" Moms love a clean house; moms with 3 active children *require* a clean house to stay sane. While I would not call myself a domestic goddess yet (though I strive to be), growing up I learned to love the predictable success and peace of mind that systems and organization bring. If my mom had taken a class on writing computer code when I was in school, she could have converted all her organizational systems into some amazing software and become incredibly rich. (sorry for holding you back from your destiny, Mom)
"Have you done your chores?" Moms know that to keep a household running, certain things need to be done on a regular basis. It isn't enough to just live in a home; without maintaining the lawn or keeping the inside of the house clean, it will soon become uninhabitable. The same holds true for business. If you don't nurture and care your business, the neglect will soon show and no one will be able to live there.
"Tell me about your day." I know not everyone had this - I learned that when I was still a kid from my own friends. But my mom asked me every day over an after-school snack to tell her about my day. She did the same thing with my brothers and we all thought that we were the center of the universe in that moment of time. It was my first lesson in talking out the day, discussing projects, and working through communication problems with my friends. I can point directly to this activity every time I successfully talk with a client, a peer, or an employee about a good or bad issue and determine how we will celebrate it or work through it. I am a good communicator because of my mom.

We could each probably write a book about business advice from moms (there is probably already one out there), but this weekend in particular I wanted to honor my mom by telling her how much her guidance has meant to me. My mom was a stay-at-home mother while I was growing up, and like many stay-at-home moms, she didn't always think she was as accomplished as mothers who worked outside the home. But I'm here to tell you that I learned a lot from my time at Mom University (MU), and I wouldn't be where I am today without that education. Thanks, Mamacita.

What did YOUR mom teach you about business?

Seth Godin on The Dip

Betsy Talbot (DelegateNow, Inc.) — Wed, 02 May 2007 14:24:56 -0500

Seth Godin spoke today at a teleseminar for Michael Port's Book Yourself Solid blog subscribers about his new book, The Dip: A Little Book That Teaches You When to Quit (and When to Stick). As most of you know, Seth is a well-respected author of 9 books on marketing and business culture, including Purple Cow: Transform Your Business by Being Remarkable and Permission Marketing: Turning Strangers into Friends and Friends into Customers, as well as a successful blogger.

Seth's new book explores "the dip" - a period of difficulty in business when most people quit. While Seth does not agree that quitting is necessarily a bad thing (we do it all the time but do not often talk about it), he does state that quitting when things are hard instead of when it is strategic to do so is wrong.

Take a medical student, for instance. Going through pre-med is a great thing. The family is proud, and optimism for the future is good. Then comes organic chemistry, where many pre-med students drop out. This is "the dip." Making it through organic chemistry means you have outlasted much of your competition and you are well on your way to becoming a doctor. Quitting at this juncture means that you have wasted all your time before now because you did not foresee "the dip" and how to get through it. Anticipating the dip and having a plan for it is the key to making it through to the other side, where you will likely be more successful than your competition because of your experience.

How do you know if you are in a dip or a dead end? Seth defines the dip as a period of difficulty in any business that wipes out most of the competition, and that if you do not know what this dip is, you are wise not to go into that business. You must see the curve ahead, whether it is from people who have gone in business before you or through your own research. A dead end, on the other hand, is the "same old, same old." You do not envision things getting better or worse, just more of the same. You really are not going anywhere and will not be going anywhere. This is the time to quit and use your resources for something bigger and more remarkable for you and your clients.

A famous strategic "quit" that Seth talks about is Enzo Ferrari, who worked for Alfa Romeo for many years. He could have stayed there for the rest of his career, but he would not have been able to accomplish his goals (a "dead end"). He left Alfa Romeo when he was nearly 50 years old (remarkable in 1940) to start his own car company, Ferrari. Because he built a specialized car for a very specific market, he was wildly successful. Other car companies build cars and hope people will buy them. Ferrari builds a specific number of high-end cars and people hope they can be one of lucky few to buy one. This is a great example of quitting to pursue something bigger and more remarkable for you and your clients. The situation could be much less extreme, though just as valuable, if you talk about quitting a particular strategy or product line within your existing business.

Once you get to the other side of the dip, such establishing yourself as the most knowledgeable and successful Realtor(R) in your area, you will spend less time promoting yourself and more time working on becoming better at your job. Your customers will do much of the promotion for you.

One last thought is that being well-rounded is overrated. Sure, we all want to be good at what we do, but we can't be good at everything. Do you really care if your CPA is an excellent driver? Of course not. You care that she gets your taxes done correctly and saves you as much money as possible. The same thing holds true for a business endeavor. Be really good at your core business. (Hire a virtual assistant for the rest.)

Seth's new book will be in stores on May 10, though you can purchase the CD from Barnes and Noble now for $5. For more information on Seth Godin and his marketing and business culture ideas, go to Seth's blog. To read what others are saying about this book, see Guy Kawasaki's review.

Defining Your Target Market

Betsy Talbot (DelegateNow, Inc.) — Tue, 01 May 2007 09:22:40 -0500

If someone asked you today, could you describe your target market? More importantly, is the business you are doing now reflecting that description?

Today at my BNI meeting a guest who happened to be a dentist was asked to give a short "commercial" about himself, just like the other members do each week. He gave a little background info and then stated that his ideal client was "someone who has teeth." We all chuckled, and then he went on to say that he specialized in cosmetic dentistry for young professionals. That is actually quite a bit more focused than "someone who has teeth."

His comment made me think a little bit more about the real estate industry. As a Realtor(R) you want to work with people who are looking to buy and sell homes, but you cannot be all things to all people. If you specialize in first-time home buyers, your marketing dollars and activities should be focused on first-time home buyers. The same holds true for any specialization: second homes, luxury homes, investment property, commercial real estate, etc.

As a real estate virtual assistant company, we have a target client as well. We want a client who works in partnership with us and has budgeted for a team to help reach defined business goals. It took me a bit of time before I realized how important it was to both know my target market and be able to accurately tell other people. After all, as a business owner you want any business you can get, right? Wrong. Spending your time filling the gaps to accommodate a non-target client takes away the time you could be spending servicing or marketing your target clients. Your repeat business will likely come from your target market anyway.

When we realized we were going off target, we made a tough decision. As painful as it was, we knew we had to turn away business that did not meet our target client profile.

Do you know what happened after that? The phone rang less, but when it did, it was for better business. Instead of being asked to do one-off projects, we were being asked to quote total support packages and implement lead generation programs. We were writing fewer proposals each month, but the dollar amount and service level was higher. We were talking to people who wanted to build partnerships.

What does this mean to you as a Realtor(R)? Simple. Go where your market is and don't be distracted.

If your target market is young families, go to the soccer field on Saturday morning and sponsor after-game snacks for the team. Mingle with the parents. If you have the funds, sponsor a team.
Is investment property your specialty? Go to your local community college and offer to teach a non-credit extension class on investing in real estate. You will have a captive audience and get paid to talk to them.
Commercial Realtor(R)? Join a networking group such as BNI. Each week you will have the chance to talk about what you do and meet 25+ people who own or manage a business. We all need a place to work.
Speaking to clubs or sponsoring some activities will allow you to market yourself to your target audience as well. An stock club would be a great place to sponsor dessert and give a brief talk about second homes.

Defining your target market allows you to focus on your core business and use your expertise to help them. Having a moving target or one that is too large will force you to spread yourself very thin, which does not help you or your client.

In honor of American Idol Tuesday (which is required viewing at my house), here is a short video of Entrepreneur Idol from Michael Port of Book Yourself Solid about defining your message and your audience. Enjoy!