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Dr. Karen's
MONDAY GREETING!
MARKETING & PLANNING N THE MARKETPLACE!
As we conclude the Spring season, I’ve made a quick note to reevaluate my business and my brand.
Push yourself before the Spring ends and evaluate your business and your brand. If you find that you could do some fine tuning and cleaning, get to work.
Letter from the Editor
Therefore, I’ve decided to do some Spring cleaning of my own, but In this issue, I want to focus on this year, with my business and your brand and provide tools to brand. help you market effectively. Many times, we let ideas, Enjoy! resources, and connections pass us by because we are not changing Dr. Karen S. Ratliff or adapting to the next season. Editor In Chief, I Love Mondays with Dr. Karen
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05 What business(es) are you in?
What does the experts say?
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Is there a market for your business?
06 07 08 09
Do you know your audience?
Podcast Message on building and rebuilding.
Table of Contents
Quick Tip: Start Your Business!
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T R A T S : P I T K C I ! QU S S E N I S U B R U YO
Use your skills and talents to start your own business. A friend of mine used his skill at cutting hair and is now the owner of a barbershop. Another friend of mine used her gift as a party planner and is now booking events for clients. Allow your gift to make room for you. For ideas, read 101 Businesses You Can Start With Less Than One Thousand Dollars by Heather Lee Shepherd.
ILM JUNE PA RT N E R
BUSINESS TIP
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???????????????????????? AFTER YOU START YOUR BUSINESS ASK YOURSELF:
IS THERE A MARKET FOR IT?
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A market is “the interconnected characteristics of a group, such as the number and relative strength of buyers and sellers and degree of collusion among them, level and forms of competition, extent of product differentiation, and ease of entry into and exit from the market four basic types of market structure are (1) Perfect competition: many buyers and sellers, none being able to influence prices. (2) Oligopoly: several large sellers who have some control over the prices. (3) Monopoly: single seller with considerable control over supply and prices. (4) Monopsony: single buyer with considerable control over demand and prices.”
To answer the question; “Is there a market for it?” The answer is “yes” if these questions can be answered: 1. 2. 3.
Is there a client that will most likely purchase my product(s)? Is there a need for my service or product(s)? Is there a way to get my service or product to my potential clients?
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MARKETING BUSINESS TIP
It is important to understand the market that you serve. You can spend a lot of money on promotional tools, but it will not do you any good if it is not reaching your specific market. The marketplace is where the majority of your audience would be and those who are interested in your products and services. Is your market below?
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) S E ( S S E N I S U B T WHA ? N I U O Y E R A
It is important to not be all over the place and understand what business(es) you are actually in. If you decide that you are interested in more than one business, that is okay; just know that your audience and market should be different as well. Always consider these questions as an entrepreneur: What value does your services and products provide to your market/audience?
2.
How are you continuously upgrading your service and products?
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Do you solve a basic problem or need?
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How are you different from others who provide the same services and products?
ILM JUNE PA RT N E R
BUSINESS TIP
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Vision/Handle - Greater Starts with You! Greatness is within each of us. How do we identify it, How do we work towards it, How do we accomplish it? Work with Coach Jas and unlock the Greater You!
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BUSINESS TIP
A 4 week prayer journey to help you “know you” and “love you” better. This journal will assist in aligning the inner and outer you and ultimately giving you a deeper understanding of who you are. You will complete this journey and consciously make decisions that are in the best interest of You! Journey with Coach Jas and Choose You!
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NOW KNOW YOUR AUDIENCE!
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Even if it takes time to research your target audience, it is worth taking your time. When you nail down who your audience will be, you can plan, market, and promote according to that demographics. The below chart is an example of your audience vs marketing.
Young Adults, Urban, Educated Professional Services and Documents Books Real Estate Related Market and Promote via Magazine, Blogs, and Podcasts
Millennials Technology Real Esate Business Start-up Information Market and Promote via Social Media and some Podcast
Men or Women Demographics
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ENTREPRENEUR TIP
Clothing Finances Relationships Fashion Venues, Counseling, and Coaching Forums
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e h t s e o D t Wha ? y a S s t r e Exp
Here are five best tools to market, per the experts. Consider these to help market your brand: 1. Mailchimp: Consider MailChimp when you are creating an email marketing campaign and need a technology tool. MailChimp has claimed its spot as one of the top email marketing providers in the world, so consider them if you are just getting started and with less than 2,000 email subscribers. 2. HubSpot: HubSpot is a great brand for marketing, sales and CRM software. HubSpot brings the entire marketing funnel together (e.g. blogging, SEO, social media, website, lead management, landing pages, calls-to-action, marketing automation, email, and analytics). Consider them to be an all-inone stop shop. 3. Hootsuite: Hootsuite is a social media all-in-one genius. Regardless of your company’s size, age, or industry, Hootsuite can get the same information out to your audiences to different platforms at the same time. March Money Madness
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4. Google Analytics: Google Analytics is a free tool by Google. This feature tracks every move that you and/or your customer/clients make and provide you with a report. Utilize this report to influence the decisions needed to make your company better. 5. Crazy Egg: Crazy Egg is used to make website changes that generate better results for your company. This tool identifies what works and what does not work for your website.
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Check out my podcast on building and rebuilding. If you are in a season where you are building or rebuilding your business and/or brand, here are some tips on how to remain focused. https://ilovemondaysdrkaren.podbean.com/e/i-love-mondays-with-dr-karen/
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About the Editor in Chief
Connect with ILM with Dr. Karen!
facebook.com/ilovemondaysdrkaren @ilovemondaysdrkaren @ilovemondaysdrkaren ILoveMondaysinc.com Cover Design, Magazine Layout Design Young Dreams Publications/Media www.youngdreamsbig.com www.youngdreambig.com/ydmedia info@youngdreamsbig.com
Dr. Karen Ratliff is a native of Chicago, Illinois. As the founder of 365 Consulting Group, she assists individuals and corporations reach their desired visions, dreams, and goals. She is an author, motivational speaker, certified life coach, ghostwriter, and consultant. Her motto is “How May I Help You Win?” Dr. Ratliff was the writer for Jet Magazine “Cents and Sensibility” column. She is also a professor, course designer and curriculum developer. She is the trailblazer for the approval of a charter school located on the south-side of Chicago, where she now serves as the Board President. Most recently Dr. Karen became a 2018 recipient of the “40 under 40,” Young Women Professional League where she is recognized as a trailblazing professional under the age of 40. She loves Mondays because Monday is the day that sets the tone for the week. Don’t wait until Friday to get things done. Get it done early and chill the rest of the week.
