MISTAKE #6 FOR START-UPS: COLLABORATING

Collaborating and networking is single-handedly the number one way to grow your business.

Like most financalfreepreneurs -just came up with that one, I’m digging it, I knew and thought that what I was doing was enough to increase my sells but um, can we reference the two failed “official” businesses and countless other joint ventures.

What I thought I was doing, was far from collaborating and networking. I was merely scratching the surface and not even that. 

I started my business solely on Facebook and a few printed ads. Again, I thought this was my ticket to my penthouse but that wasn’t so *insert crowd unison awe here*.

No, No, No, you don’t have to feel bad for me because I learned a lot from my (and other entrepreneurs) failures which equipped me with having the ability to help you down the right path. So let’s get to it.

From my past clients, I have heard different outlooks on  collaborating and networking such as:

• I’m afraid that I will get rejected if I reach out to someone

• I’m a super duper uber introvert and networking terrifies me

• I already have enough connections. I’m good on adding anyone else

• I know what I need to do but I just can’t bring myself to it

• What if my services suck and they don’t feel that I’m worthy

The list can go on and on with thoughts around networking but in actuality, it’s a must when needing to grow your business. Collaborating and networking can open so many doors that you didn’t know that exist but you have to get outside of your comfort zone. 

 

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MISTAKE: Feeling comfortable in my zone - afraid to play nice with others

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You may be uncomfortable with reaching out and making these connections or collaborating with other people but you must think of it as a great thing.

You’re doing something different and that something different is going to bring you different results in your life. That’s what you wanted right?! 

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SOLUTION: Step out Of your zone to connect and collaborate with others

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I totally wanted a change because my robotic life had become a bore and when I went on this last venture to start this business, I promised myself I would give it my all and step - even run - outside the lines of my boundaries.

Here’s how I did it. 

SOCIAL MEDIA COLLABORATIONS

HOST A LOOP GIVEAWAY

If you’re on Instagram, I’m sure you’ve seen those giveaways loops that offer a laptop, cash, and/or some expensive item you’ll get for free if you follow a certain group (or 100s) of people to win.  

When I hosted my loop giveaway, I keep my loop between 12-15 people. There had to be an end to it. 

I located several individuals that matched my same field (coaching) that I felt where kicking ass at it. Not only do you want to grow your following but you want people to truly be interested in your services.

Related: How to take your social media from lame to fame

Check for these things when collaborating:

• Visual Appeal

Were the photos they posted visually appealing to me and made me want to stay on their page or even come back? 

This goes back to branding. Those that where kicking butt and taking names with their branding approach would also reflect greatly on me and my services.

I did not want want to select someone that was kind of “all over the board”. I wanted our collective consistency to make an impression on those that were following us. 

• Content

So yes, the whole idea of Instagram is photos but the smart creators of IG went a step above to allow us to write a caption. Womp! Womp!

Side Note: I treat my instagram (@the_amber_dee) like a mini-blog.

This is another aspect I look for when selecting who I wanted to collaborate with for my loop giveaway.

I’m typically giving away information or encouragement and I didn’t want to be represented by someone that had a tendency to say negative things or promote something like violence. That’s not what I stand for and I didn’t want my loop to include that either. 

• Number of Followers

It would have been great if I could have had someone in my loop that had a million followers but let’s be honest, no one wants to work with a newbie.

Unless you have a side connect with a celebrity or friends with someone with a banging business, then you probably will get a response like “my services will be $500+ for a one post shout-out”.

Um, yeah, no!

So you have to look for people who have a similar number of followers to increase your chances of them saying yes to your giveaway. 

This will take some research but if you don’t have time, try hiring an assistant for help. Click here to read the article on how to hire a virtual assistant. 

JOIN FACEBOOK GROUPS

There are a countless number of Facebook groups that you can join for networking and collaboration.

Most groups will have a particular day of the week for you to let other group members know about your service or particular product that you have available. It’s also a great way to connect with other like-minded individuals for possible future collaborations. 

By frequently participating in the group discussions, you are making yourself visible - which is a great way to build your business/brand - and being seen as a professional which could get you more customers or clients. 

Join my Facebook group to connect, collaborate, and grow. 

JOIN PINTEREST GROUP BOARDS

Okay so I’ll admit I was never into the whole social media thing but when it comes to Pinterest, I could (and still can) spend HOURS pinning - don't judge me!

I think it’s safe to say I’m a Pinatic so doing a Pinterest Group Board and joining was completely my thing. 

Your pins are exposed to a larger number of people than simply just pinning on your board and possibly get followers for your board or any other social media.

To find these boards, I used a website called PinGroupie.com

GETTING SHOUT OUTS

Another way I collaborated and networked on social media was getting the infamous “shout out”.

I really don't prefer that term so let’s say Recognition. Yeah! I like that better! I would get “recognition” from people accounts that promoted small businesses and brands.

Sometimes there are opportunities to recognize each other’s services (aka: shout out for a shout out). 

GUEST BLOGGING

This was one of my favorite ways to network with other businesses and get exposure.

Most business will allow you to guest blog on their website as long as you allow them to do the same. It can be a win-win for you to let them blog on your site as it can bring their following to your site which can mean more followers that can turn into a sale.

I did both continuous posting and one-time post. 

This will go back to researching business that are close to your field and finding if they allow you to guest blog.

Some sites will have it posted as one of their tabs while others you may have to send a request of interest. 

• Continuous Blogging

With continuous blogging for a particular business, most want you to agree to a certain amount of times you will post for them.

Initially, I agreed to writing a blog bi-monthly and selected the topics that I would blog about ahead of time.  

• One-Time Post

Just like continuous blogging, you get to select the topic you will discuss but instead of doing once a month or once every week, it’s only one time.

This is a good way to get on a lot of sites and share you knowledge about your area with multiple people. It’s also a good way to build rapport and connect with the owner of the blog.

You will feel more comfortable with contacting them when its time for a loop giveaway, a referral, or a collaboration for a webinar, article, or podcast. 

HOW TO PRICE YOUR SERVICES AND GET WHAT YOU'RE WORTH

I remember starting my first two business and wanting to get customers/clients so badly that I would be willing to lower my prices. I know it’s crazy but it’s true and like so many other individuals starting out in business, lowering prices is the only way to get a sale, right?

Mistake of First-Time Entrepreneurs:

Underpricing Services

Did you know one of the reasons most business are unsuccessful because they tend to underprice their services or products?

This causes businesses - such as yours - to fall short of your financial, sales, and marketing goals. 

I think that its standard to want to make a good impression on your potential customers for those word-of-mouth referrals and that continued business but what are you losing in the meantime? 

Yes you love what you do but you don’t want to go broke from it? 

Solution: Create your price list

I’m sure you’ve spend hours, days, weeks, or even months finding the right price point for what you have to offer and trying to learn some business pricing strategies.

If you are still trying to figure out how to price your service, try these steps.

• Find your annual salary - determine your ideal annual salary for yourself based on the amount of time it will take to create a product or offer a service. Research others in your field to get a good range of pricing and determine if you will be on the higher or lower end of the price range. 

• Calculate your expenses - determine the expenses that will come when having to create or provide a services such as overhead cost, computer, internet fees, etc.

• Determined billable hours - determine how long you will be actually working on a product or services meaning the actually time it take to create or provide the service. Within a week, will you actually be working on the service or product 5 hours a day (not including administrative duties). If so, then multiple 5x5 (if you work Monday-Friday) to get your billable hours. Then multiple that by the number of weeks you will work in the year.

• Get your hourly rate - divide your billable hours/ideal annual salary and there you have it. 

All this had determined your hourly rate and this is no easy task.

You have to get correct figures for your overhead cost, the cost of services, purchasing a new computer, printer, fax, etc.

Whatever it is that took time and in today’s world time equals money. You are worth what you are charging and should not feel bad about it. 

Stick to Your Price

Sell it! Sell it! Sell it!

When I was selling items on eBay, I learned that if your product didn’t sell the first couple of weeks, when you relist the item and increase the price. Weird? Not really.

I'm sure you would think, if someone didn’t purchase the item when it was one price, they definitely won’t buy it if the price is higher. It's actually the complete opposite. it increased the interest. 

Humans have been hard wired to believe that more expensive items are the best.

We equate price with value meaning better quality so when you lower your prices for someone, it’s unconsciously showing them your stuff isn’t really worth it.

You definitely don’t want that! 

If you have someone who is telling you, your prices are too high or that’s too expensive (who can blame them, we’re always looking for a bargain), try responding like this:

• “My prices are set at this point because of the things you will receive such as….”

This is your chance to brag on your services and your unique offers that will benefit them extremely. 

• “Yes, you’re right and that’s because of the quality that you’ll receive you can’t find anywhere else.”

Here’s another opportunity to explain to them that the services they will receive is because of the detail and attention you give your service or product. 

• “What’s your budget?”   

You can take this approach and help create budget friendly plan just for them.

Keep in mind, you will not be adjusting your prices but you can help them benefit from your services by discussing options in their price range. 

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HAVE YOU HAD AN ISSUE WITH UNDERPRICING YOUR SERVICES OR PRODUCT BEFORE? WHAT DID YOU DO TO HANDLE THE ISSUE? DO YOU ALREADY USE SOME OF THE METHODS ABOVE? LET ME KNOW IN THE COMMENTS BELOW.

MISTAKE #4 FOR START-UPS: SALES FUNNELS

Sales Funnels! Sales Funnels! Sales Funnels!

I’m sure you’ve heard it by now but were you like me and thought the only other funnel you knew besides the plastic that is used for cars, is the one with cake afterwards?

Sorry - it’s my weakness.

Neho, let’s talk about what’s all the hype about this “sale funnel” thing. 

It’s not as bad as it sounds and it’s actually not that complicated. Think about it like this, it’s putting your income on auto-pilot where you can make money while you sleep.

Thought that would get your attention. 

Yep! Make money while you sleep.

Instead of having to hustle for every dollar (disclaimer: I’m all about the hustle but it’s nothing wrong with your Paypal account dinging every minute while you eat dinner). 

OFFICIAL DEFINITION

The official definition of a sales funnel is the buying process that companies lead customers through when purchasing products. 

AMBER’S DEFINITION

An automated way to transfer readers to customers. 

Example:

You just created a series of emails - email course - that solves a problem for your ideal customers.

Within the course, you offer items for purchase that your readers can’t live without. 

See? Easy Breezy!

If you have been blogging, I’m sure there’s a ton of information you can structure into a free email course. 

Strategically lead your potential customers to why they need a particular product or service. 

Things to offer for sale:

• Webinars

• eBooks

• Courses

• Service

These are things you have created that you don't have to physically be present to make a sell. 

levels of Sales Funnel

Sales funnels has multiple levels - hence the name funnel

LEVEL 1: OPT-IN

Draw the attention of potential customers. These are individuals that may have never heard of you. 

Think about what your customer really needs assist with and create something that is very valuable to them that you can give for free. 

Be sure to include truly beneficial information to your readers or new visitors.

The more valuable your information, the more likely the individual will purchase your other products or service. 

What you're trying to do in this area is create that feeling of catching a surprise sale and getting 80% off your favorite item.

Yesssss!!!! 

That keeps the customer coming back and now you have a returning customer. 

LEVEL 2: SMALL PURCHASE

This is something you may offer such as a $10 ebook or  a $5 workbook that is useful for your customers. 

LEVEL 3: MEDIUM PURCHASE

After you have a customer that is interested in what you have to say (by the way, I just want to say thank you to my readers for letting me bombard you with information), you can up the ante and offer a membership or particular subscription.  

This is why your automated email system has to really do a great job of capturing these customers. Read here about the different options for automated email system.

Popular Options for Automated Email System

MailChimp

Convertkit

Aweber

Infusionsoft

LEVEL 4: LARGE PURCHASE

This is when you have build trust with your customers and they are willing to purchase more expensive items such as a particular program.

Having beneficial information is useful with everything you give as it is building your customer up to each level.

LEVEL 5: EXTRA LARGE PURCHASE

At this level, you can officially consider yourself "in there like swimwear." 

Your customers at this level trust you and believe in what you produce and are willing (and sometimes want to) purchase whatever it is your selling. 

Not that bad, huh?

It's actually something you can create and get started within one day. 

Now I want to hear from you.

DO YOU PLAN ON IMPLEMENTING SALES FUNNELS IN YOUR CURRENT BUSINESS? DO YOU HAVE ADDITIONAL IDEAS FOR SERVICES OR PRODUCTS TO OFFER?

Get at me in the comments!