Business Success Guide, presented by Ellese & Co

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NOVEMBER 2016

NEXT LEVEL BUSINESS ARE YOU A BOSS OR CEO? GET THE RIGHT SOCIAL MEDIA RECIPE FREE PLANNERS, WORKSHEETS, HOW-TO’S AND MORE!


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I have a confession to make. I am addicted to information. I will research things for days. I have researched some topics so much that they become circular. I think that I found something amazing only to discover that I pinned it weeks ago. Seems silly, right? I agree. There are no prizes for hoarding information. So, I decided to turn what I saw as a problem into my business model. I can’t possibly be the only one who suffers from “analysis paralysis” or information overload. I’m going to share what I’ve learned from industry experts and established business leaders in our publication, website, and social channels. I’ll break the information down and provide additional resources to help you take action on the information I consume.

Why Ellese & Co? I found that a lot of the resources in the business information space are either too serious (heavy MBA style) or just plain useless (so general that it’s common sense). Ellese & Co is a group of carefully curated characters with distinct business personalities whose sole purpose is to provide resources that will help you develop your business. The topics we explore in each issue of the publication, and on our social channels, will focus on business fundamentals and professionalism. These resources will not just scratch the surface or give you “fluffy” information; it will prepare you to take action and create real change in your life and business. Chief Curator

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“If you want to lift yourself up, lift up someone else.” Booker T. Washington

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CONTRIBUTORS

BUSINESS MAVEN Hello... My name is Ellese. I’m so excited you’re ready to take your business to the next level. If you’re anything like me, on a perpetual quest for improvement, then this publication is the perfect tool for you. Being an entrepreneur is about more than just the sale of goods or services. We are professionals with standards, goals, and metrics. Business can get very complicated, if you let it. However, with the resources provided by Ellese & Co you will surpass all of your personal and professional goals.

SOCIALITE Bonjour, I’m Jessie. I’m addicted to all things social media and share more selfies than I’m proud to admit. I honestly believe that you can make a genuine connection with your customers through social interactions which is why the information I share in our publications and on social media platforms will help you do just that—make connections. Ultimately leading to increased sales, which is why we are all here, right?

TECH GUY Hey, I’m Chris. People laugh at us computer geeks until they need us. Technology can be your best friend and your worst nemeses all on the same day. There is no escaping the use of technology, so you might as well have a little fun with it. You need it to do just about everything in your business (billing, communication, customer management, website, etc.). Don’t worry; I’ll be your tech guy. Together we’ll pick the best tools to support your business.

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B U S I N E S S

“Mass advertising can help build brands, but authenticity is what makes them last. If people believe they share values with a company, they will stay loyal to the brand.” Howard Schultz, CEO of Starbucks

Branding is all that anyone can talk about these days because savvy entrepreneurs understand that the right branding can help you make an instant connection with your ideal customer. Ellese & Co knows it’s significance, which is why we’ve spent time and resources evaluating what makes some branding efforts more successful than others. 6 ELLESEANDCO.COM


GET YOUR FREE KNOW YOUR CUSTOMER GUIDE

WHAT IS A BRAND?

Your brand is your promise to your customer. It tells them what to expect from your products and services before they’ve had the opportunity to experience them. Branding is their first impression, so you should seek to make an emotional connection with physical (logo, website, marketing materials, packaging, tags, advertisements, etc.) and intangible (tone, language, user experience, etc.) elements of your brand. When you focus on the three Cs (clear, consistent, and captivating), you can elevate your brand and make connections with your customers that will have a positive impact on business.

cards, websites, flyers, invoices signage, etc.). Inconsistent branding can lead to confusion and mistrust which may ultimately disrupt or slow down the buying process, and nobody wants that, right?

CAPTIVATING

Do you ever feel like you really know what a particular brand is about? Not only what they sell, but what they stand for? Facts tell, but stories sell. Some of the most successful companies have integrated stories related to their brand into their marketing. Have you ever wondered why some brands create ads and commercials that, on the surface, seem to have nothing to do with the products they are selling? It’s because stories draw

CLEAR

Your customers should be able to talk about you in a few words. Who you are, what you stand for, and what you have to offer. If you can clearly communicate these things, you will be easily remembered and recommended. We are all tempted to use clever spellings and acronyms, but make sure they relate to your business and are easy for your ideal customer to understand.

CONSISTENT

Although all of your marketing materials don’t have to look exactly the same, they should be consistent. The feel, tone, and terminology should create a similar brand experience every time someone encounters your collateral (business

you in and captivate you. It’s the stories that facilitate a genuine connection with your customers. Good branding can change the course of your business. You should take it seriously but have a little fun with it. If you invest the appropriate resources into your branding, I promise, it will be one of the best investments you make in your business.

THINGS TO REMEMBER Don’t over DIY! With all of the cool tools out there (Canva, Picmonkey, Wordswagg) it is very tempting to try are create your own branding materials. Trust me; some things are better left to the pros. If you are on a tight budget, invest in a couple of brand elements that you can repurpose (logo, headers, signature image, etc.). If you have a personal brand, the best investment you can make is in professional pictures of yourself.

KNOW YOUR CUSTOMER

In order to effectively communicate your brand to your potential customers, you must first be very clear on who you’re trying to attract.. You can accomplish this by creating a Customer Avatar. A Customer Avatar is a fictitious character that represents your ideal customer. Having an intimate understanding of them will help you craft the right marketing materials and understand what will influence their buying decisions. This is not to say this will be the only type of person that will purchase your products and/or services. This is just the person that you will have in mind when you design them and craft your marketing materials. Also, you may develop more than one Customer Avatar as you diversify your offerings. In the beginning, your Customer Avatar may be based on you. The you before your problem was solved with your products and services. Don’t be alarmed. This is ok, but only in the beginning. Revisit this “Know Your Customer Worksheet” as you learn more about your actual customers. REMEMBER: When completing this worksheet, be specific and focused. Creating a Customer Avatar that is too broad and general is a waste of time. I know what you are going to say “my business will serve everyone.” Not even Walmart seeks to serve everyone.

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B U S I N E S S

ARE YOU A

BOSS OR A CEO?

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As a lifelong entrepreneur, I have started several businesses where my number one goal was to be the Boss. I simply wanted to be in charge and follow my heart’s every desire. Let's just say that while some of these businesses were successful, they never reached their full potential because I was running my business with the mindset of a Boss. I like the word Boss; it sounds so cool and tough. Not to mention it has empowered so many people to start their own business and it looks pretty fly on a t-shirt. However, living the “Boss” lifestyle and fighting so hard to live outside the corporate walls has allowed too many of us to lose sight of the CEO Mindset. By definition, a boss is: a is a person who exercises control or authority; specifically: one who directs or supervises workers. While a CEO is defined as: the executive with the chief decision-making authority in an organization or business. I don't know about you, but I have no desire to "exercises authority" over people or “supervise workers.” Furthermore, I’m not sure what the responsibilities would be as a Boss if you don't have anyone to supervise. Since your business is not going to run itself, you will need someone at the helm. This will likely be you, at least in the beginning. CEOs are considered to be the highest level of professionals. As an entrepreneur, professionalism should always be top of mind and present in every aspect of your business. To achieve this level of entrepreneurship, you must adopt the CEO Mindset.

Now let's dig a little deeper into what into what the CEO Mindset is all about.

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Once you create a process that works for your business, create a Standard Operating Procedure (SOP) for that task. You don't need a fifty-page manual, but it should be comprehensive enough that someone can follow the steps to get the job done. The more complex your business, the more detailed your instructions should be. By creating SOPs, you will maintain continuity and a consistent level of service, thus creating the experience your customers are expecting, no matter who completes the task.

2 NUMBERS DON'T LIE

While your social media presence is important, it doesn’t yield the same results for every business. I remember working with a client who invested a great deal of time and resources

growing their Instagram following. Once we dug into the numbers, we discovered that while they increased their Instagram followers by 6,500, it only generated two sales, despite throwing over 60% of their social media marketing budget into Instagram. The data further revealed that 45% of their sales were generated from Facebook leads even though they only spent 25% of their budget on that platform. Understanding where their clicks came from gave them more insight into their customers and how they could get the most out of their marketing dollars. Armed with this new data, they quickly shifted 90% of their social media marketing budget to Facebook and experienced a 25% increase in their overall sales. This analysis is just one example of how the numbers can influence your bottom line. ROI (return on investment); profit margin; customer acquisition cost; and payment cycles are other metrics that are critically important to your business.

3 MAKE A DECISION ALREADY

I could go on for hours listing the characteristics of a good leader (honest, fair, committed, etc.), but I am going to spare you the dull read because most of them are common sense.

I know you’re thinking, “I left the corporate world to escape all of this _______ (you fill in the blank), and there’s no way I’m bringing that into my business.” In no way am I suggesting that you adopt practices that are not right for your business. But, don't be so quick to throw the baby out with the bathwater.

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B U S I N E S S

Good leaders are decisive. They collect as much intel as possible, in the allotted time, weigh the pros and cons, and then decide what to do, rather than allowing the circumstances alone to dictate their decisions.

4 INVEST IN YOUR PEOPLE

Whether you have employees or independent contractors, it is highly unlikely that you will handle every aspect of your business yourself. When you assign a task to someone, provide clear instructions (as described in #1), then allow them to complete the task without micro-managing. In addition to the SOPs, be sure to provide insightful explanations as to why certain standards are important to your business and how they affect it.

There are some distinct differences between running your business with a CEO Mindset versus with a Boss’ mentality. As you can see having the CEO Mindset is essential to your business’ growth and lasting success. At first glance, these practices may seem complicated, but

once you adopt the CEO Mindset, they are quite simple. Adopting these practices may not make you a Fortune 500 company overnight, but they will get you one step closer. Don’t worry, it’s about progress, not perfection.

CLICK HERE TO TO CHECK OUT OUR BLOG PROGRESS OVER PROFECTION

BOSS CEO

Once they have completed the task, be sure to provide valuable feedback and kudos, as appropriate. Over time, assign varied and challenging tasks to facilitate more growth. If you don’t believe someone on your team is worth professional development and mentoring, then they are likely not the right person for your business; don’t be afraid to move on and find the right people to invest in and grow your empire.

5 TURN ON YOUR BUSINESS GPS

Planning is one of the most important responsibilities of the top executive. If you are not clear on where you want to take your business in the short and long term, the moves you make will not be strategic or lead you to accomplishing specific goals. What's worse, you may make moves that are counterproductive. Furthermore, if you don't have a clear plan for the business, you can’t measure success, making most of the metrics you worked so hard to establish worthless.

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SOMETHING TO REMEMBER Metrics are what you measure. And what you measure is what you manage. The numbers can be intimidating, but there are a ton of free or low-cost tools that can help you quickly collect and analyze data. If the data still has you shaking in your boots, consider hiring someone that can summarize the data for you.


“We can’t become what we need to be by remaining what we are.” Oprah Winfrey

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@ SMS

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SOCIAL MEDIA RECIPE As we launch Ellese & Co, we are learning that a successful social media strategy has a little bit of this, a lot of that, and a pinch of something else. It’s not like baking; you don’t have to precisely follow someone else’s recipe. It is more like making spaghetti; everyone’s recipe is a little different, but somehow it’s just right for them. ELLESEANDCO.COM

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TO CREATE THE RIGHT RECIPE, YOU MUST FIRST UNDERSTAND THE BEST USE OF THE INGREDIENTS. REMEMBER THE PLATFORMS (FACEBOOK, INSTAGRAM, TWITTER, ETC.) ARE JUST INGREDIENTS. YOUR GOAL IS TO CREATE A DELICIOUS, NUTRITIOUS AND FILLING SOCIAL MEDIA STRATEGY THAT WILL NOURISH THE BOTTOM LINE OF YOUR BUSINESS. Before choosing which platforms will work best for your business, determine your social media goals and expectations. Some platforms are better than others for very specific reasons. Lets take a look at the big four.

FACEBOOK

Facebook is by far the largest social media network, both in terms of the total number of users and name recognitions. It is highly unlikely that it will not be a part of your social media strategy. While there is a lot of noise on this platform, it’s full of tools (free and paid) to help get the attention of your

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target audience. The newest of these tools is Facebook Live. This live streaming feature, allows you to broadcast live video from your smartphone and write an optional description of the event. Your target audience can tune in to the live broadcast or catch the replay from your timeline anytime.

INSTAGRAM

If you have a visual brand or a knack for creating compelling images or short videos, Instagram is a must for your brand. Although you really need to know your audience on all platforms, this is especially

true on Instagram. Most users take a very quick scroll through their timeline. Therefore, you must spark their interest immediately! Instagram recently rolled out Instagram for Business, which allows you to boost a post and includes analytics that allow you to track which images are engaging your audience.

TWITTER

Twitter’s 140 character limit transformed the way that we communicate. We share bite-sized pieces of content and access real-time information generated by millions of people. Twitter gives you a direct and immediate connection to your customers, making it a great place to quickly address their concerns. The other day, rather than sending a customer service email before making a purchase, I sent a Tweet. I wasn’t sure if I’d get a response from the company, but I thought that someone in the community would give me some useful information. To my surprise, the company responded immediately and I was able to complete my purchase. To help grow your audience quickly, consistently use hashtags (even in your bio), participate in “Twitter Chats” and show up on Periscope (Twitter’s live streaming app) daily.

SNAPCHAT

Snapchat is a video and messaging tool. It has several unique features and is a fast moving platform. This is the perfect platform if you have an engaging personality because you have to catch people’s attention quickly. It is also the perfect place for behind the scenes access to your brand. Once you have selected your platforms, you must understand what success will look like for you. Get intimate with the analytics. “You can’t improve what you can’t measure.” Above all, remember that you don’t own these tools; they can be taken away from you at any time, without notice or explanation. So be sure to get your fans and followers to opt-in to your email lists that way you control the access you have to them.

PRO TIPS 1. Reserve your brand name on all social media networks— even ones you don’t plan to use. Visit www.namecheckr. com to check if your business name is available. 2. Set up a Facebook group and focus on building an audience there. It is much easier to engage with group members than it is to engage with Fans of Pages. 3. Pin a Tweet. Perfect opportunity to showcase your best work!


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P R O D U C T I V I T Y

YOUR MOST PRECIOUS RESOURCE

No matter what stage you’re at in your business pursuit, there is one thing that you'll always find yourself fresh out of… TIME. Each day, we all begin with the same amount. However, some people are much better at managing their time than others. I’m one of those unlucky souls who is always out of time. I never seem to cross things off my to-do list. Great at starting to-dos, but terrible at checking the box. Fortunately, I have acknowledged this problem and have taken steps to correct it. Just like any other skill, you can learn time management and even better than that, efficiency. We can’t create more time, but these tips have helped me get back some of that precious resource, TIME.

“Get a First Class Ticket on the NO Train!” MARIE FORELO F OCUS

The days of multitasking are over, so turn off the distractions. I can’t even begin to tell you how many times I’ve checked my social media feed when was supposed to be researching or taking care of other things online. Surfing social media is a tough habit to kick, but you have to focus and limit the amount of time you spend on it, especially if that’s not the task at hand. Not strong enough to do it on your own? Try a tool like Freedom (www.freedom.to) or Cold Turkey (www.getcoldturkey.com) to help you stay focused.

BAT CH YOUR WORK

Once I am in a certain mindframe, I like to stay in that zone. For example, I create all of my marketing and social media graphics on Sundays. Some people even go as far as scheduling social media post, using tools like Buffer and Edgar. This way your don’t have to worry about that task, because you’ve completed it until next time.

EMAIL MANAGEMENT

Touch emails only once. Quickly determine if an email is actionable or not. If yes, do it immediately, defer it, or delegate it. If you can’t take one of those actions, delete or move it to a folder that you will review in the future.

SCHEDUL E I T

You’re not going to magically find the time to do things. Even the simplest things should be calendared (prep time, dinner with the family, me time, etc.). If you respect your calendar, all things will get the attention they deserve.

GUA RD YOUR T IME

You cannot do it all, nor should you try. There are some things that you should delegate or even decline.

THE PLANNING PARTY STARTS NOW! CLICK HERE FOR YOUR FREE PRO PLANNER SOMETHING TO REMEMBER So many of us stop making progress because we chase perfection. Planning is a tool to help you make progress. However, it should not be used to measure perfection. While you should still strive to be perfect, remember perfectionism has killed far too many dreams.

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TOOLS OF THE TRADE We will always be competing for just a few seconds of our customer’s attention. One of the best ways to reach them directly is via email. Whether you have an online or offline business, email marketing is effective, relatively inexpensive and should be a part of your marketing strategy. While I love sending personalized emails, there’s just not enough time in the day to send each of my customers an individualized email. It’s better to draft a message that will appeal to your idea customer and send a single email to all of your subscribers at once. Several tools can help you do this, and most have free plans. These web-based email marketing services help you design email newsletters, distribute them to your email list and even share them on social networks. They are robust tools, filled with cool features that ultimately increase your deliverability, which gets your message to more of your customers. I know what you are thinking... “I have a

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free Gmail account that will let me send as many emails as I want.” For a professional business, that just won’t do. Pros use quality tools that increase efficiency and help them stand out in the crowded market.

2 Analytics - This is priceless. You must understand what information and offers interest your customers. Email marketing services track every interaction (opens, clicks, etc.) with the emails you send to your customers.

There are a few other huge benefits of using an email service provider:

3 Manages your email lists - Emails are digital gold for businesses. These systems can serve as a customer management tool by storing birthdays, locations, and interests. You can also segment your lists; allowing you to send specific offers to your customers based on their interactions with you online.

1 You can send emails to your entire list at one time - To prevent spamming, email providers limit the number of emails you can send from accounts like Gmail, iCloud, etc. Therefore, it is likely that you will not be able to send emails to all of your customers at the same time.

THINGS TO REMEMBER Mailchimp is one of my favorite tools, especially if you are just getting started or have a small email list. It’s free for your first 2,000 subscribers and has some fantastic extras like templates, and e-commerce integration. If you have an online business that sells digital products, you may want to look into something more robust like Convertkit or Infusionsoft.


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DON’T OVER

THINK IT So many of us are putting off starting or expanding our empires because we have a few misconceptions about business.

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Let me be the first to tell you that none of the things that we outline below are showstoppers. Even if you look at your business and find some truth in all of them, don’t stop, just keep moving forward.

NEED A DETAILED 1YOU BUSINESS PLAN

While you do need a plan, it does not need to be overly complicated. There are only a few times when complex business plans are necessary, (i.e. trying to secure a grant or bank loan). Otherwise, it’s best to micro plan. Start by creating a short business plan that includes your overall vision for the company and the types of products and services you will offer. From there, create micro plans for the other aspects of your business such as revenue management, marketing, idea customer, etc. Trying to complete everything at once can be overwhelming and often unnecessary.

PRODUCTS OR SERVICES HAVE 2YOUR TO BE PERFECT.

Thanks to the new DIY culture, the world is so accepting of the “learn as you go” mindset. In fact, it’s celebrated. People are not necessarily willing to pay a premium for products and services that have not been perfected, but, if they believe there is value in your products or services in it’s current state, they are willing to pay nonetheless. It’s all about how you position it. Roll it out as a beta test and charge a nominal fee. Why charge at all, you might ask? There are two reasons why you should charge something: 1. Part of the validation process in ensuring that people are willing to pay for it. 2. When people pay for something, they will give you honest feedback because they have some skin in the game.

SHOULD START WHEN YOU 3YOU ARE READY

Wrong, start now! You’ll never be ready. There will always be something you can make better. Starting before you’re ready will force you to step your game up. One of the best strategies to make sure you start at a particular time, whether or not

GET THE DAY 1 ENTREPRENEUR WORKBOOK MATCH YOUR PASSIONS AND SKILLS you are completely ready, is committing to it publically (press release, social media announcements, etc.). Don’t worry, you’re a professional and will rise to the occasion and if you’re truly not ready, you’ll adjust accordingly.

NEED A LOT OF 4YOU MONEY TO START

This is one of the biggest misconceptions. There are a million ways to start a business with little to no money. Your business may not look exactly as you planned on your Pinterest board (plush office, fancy packaging, state of the art website), but you can still create a business that will make money. In fact, it may be the best thing for you right now. Not having expendable capital will force you to make strategic decisions with the resources you have.

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HAVE TO WORK 80-HOUR WEEKS, 5YOU FOREVER

I don’t know about you, but the main reason I wanted to start my own business was to have more freedom with my time. If

this is something that is important to you, make sure you pick the right business. For example, if you are starting a full-service restaurant, it will have to be staffed at least 12 hours a day. So, unless you have a boatload of capital, it’s very likely that you will be a member of that staff for many years. If you are passionate about having a foodbased business, but having more free time is high on your list of priorities, a restaurant may not be the business for you, at least initially. You may want to consider being a private chef or starting a catering service.

THINGS TO REMEMBER Don’t let road blocks stop you. Be prepared to take whatever detours necessary to continue moving forward. I’m not encouraging you to sacrifice the quality of your offerings, in the name of progress. However, you can’t let anything hold you back, continue to take ACTION. Ride through the storms, rather than waiting them out! Persistence pays off in the long run.

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