What Was Your Mark On 2010?

Regardless of your belief, I'm confident that we can all agree that the end of a calendar year is a wonderful time to wish one another peace, joy and good will to all. It's also a perfect time to reflect back on this closing year and plan for the year to come.

As I look back on 2010, I have much to be thankful for. I have incredible and intelligent clients, talented staff and suppliers who provide exceptional service and a loving and supportive family.

Little Fish Cares

Helping small businesses or what I like to call “Little Fish”, is my passion. We are so privileged here in Canada to have access to financing and business development expertise, that we can’t imagine and economy without it. Well, there are places in the world that don’t have the funds to support the development of an entrepreneur’s dream and for those, micro financing is their answer.

Little Fish Big Pond is proud to financially support “Little Fish” in developing countries, through:

Opportunity International

Opportunity International provides small business loans, savings, insurance and training to over two million people working their way out of poverty in the developing world. Through nearly 40 years of experience, they've learned that small-scale entrepreneurs can be big change agents in overcoming global poverty. Clients in more than 20 countries use Opportunity's financial services to start or expand a business, provide for their families, create jobs for their neighbours and build a safety net for the future. Women, who comprise 84% of Opportunity's clients, gain status through their business experience. Loan amounts begin with as little as $60, and a 95% loan repayment rate allows Opportunity to keep more money circulating in new loans.

Solange's Story

With a $60 loan from Opportunity International, Solange Mukakarangwa opened a small store near Ruhengeri, Rwanda. With her earnings and additional loans, she built several houses and offices to rent to neighbours for their own small businesses. Despite living in one of the poorest countries in the world, Solange now provides for her five children and promotes economic growth in her community.

What will your mark be on 2011?

Keep Swimming Little Fish!

Who Do You Want To Resemble?

A few months ago I told you about my two goldfish, Goldie and Fin. Well, over the past while, an interesting thing has happened, they began to look and act more and more alike, until finally they became exactly the same! Goldie remained the solid, bright orange fish, but increased her aggressiveness, while the larger and friskier Fin began to submit and loose the black colour on his fins. I originally chose Fin, because he looked different than Goldie and because I wanted to be able to tell them apart. Now they are virtually twins in the appearance and personality.

As I watched this happen gradually, I couldn't help believe that the same phenomenon were possible in the human world and I don't mean beginning to look like the people you associate yourself with, I mean taking on their character and habits.

As a result of this astounding observation, I recommend that as a little fish in the pond of big businesses, it's important to:

• Associate with peers who are smart

• Do business with those who have integrity and a strong moral code

• Be mentored by those who are wiser and more experienced

• Align with those who are kinder and just outright happy

If you ultimately become like your environment, be sure to choose one that you like.

Keep Swimming Little Fish!

Are Your Scales Bright And Shiny?

As a little fish in the pond of big businesses, there are many small details that need to be taken care with the few fins you have. Although you can delegate some, if not most of the details to professionals in specific fields, you can't delegate "yourself" as a project, as you would bookkeeping.

Taking the responsibility of keeping yourself well groomed, well dressed, well rested and well fed will have you swimming circles around the competition. Not only will you be healthy and have lots energy as a result, your customers will perceive your company as also being healthy, professional and successful.

Analogy
When you go to a pet store or aquarium to look for the new addition to your fish tank, you'd never dream of choosing a fish that looked unhealthy to bring home. Instead you look for one with bright and shiny scales!

A strong fish will give you the longevity you'd expect from the investment you've just made and won't negatively affect the health of your existing fish and tank.

Keep Swimming Little Fish!

Are You Too Quiet For Your Own Good?

As a little fish in the pond of big businesses, you might find that you spend most of your time developing your product or service and not enough time telling others about what you do because you don't want to draw attention to yourself.

The secret to a successful business is not to attract attention to yourself, but instead to draw attention to the problem that your product or service solves for the prospective customer.

When you spend the time talking about the features and benefits of your business offerings and topics related to your industry, you educate your listeners, prime them as future prospects and as a result position yourself as the industry expert.

This approach is passionate, authentic, infectious and profitable.

Don't be shy. Look for opportunities this week to dialogue about the business you're passionate about!

Keep Swimming Little Fish!

Are You Waiting Until It's Too Late To Survey Your Customers?

Although you think your product or service offering may be unique and in high demand, have you taken the time to consider how your customer may feel about it?

Most conscientious business owners survey their customers, but unfortunately most of those same business owners do so after the fact, at a time when it's too late to do anything about the negative experience their customer may have had.

Conducting ongoing dialogue with your customer during the entire course of a project or business transaction will keep you informed every step of the way of how your customer feels about doing business with you and your company. This ongoing communication will provide you with the necessary information needed to change, correct or enhance your customer's experience before it's too late.

Analogy

Consider a marriage. If a couple doesn't openly communicate regularly in efforts to continuously improve their relationship, it's likely that they will end up in divorce without knowing how they got there in the first place.

This "continuous" style of surveying shows your customer that you greatly value their business and that you want to continue the relationship.

Keep Swimming Little Fish!

Little Fish Have A Huge Impact

As a little fish in the pond of big businesses, it's sometimes hard to recognize the impact you have on your industry and our economy. According to Statistics Canada, 2008:

• 1997-2007 - Small firms accounted for 37% of all jobs created

• 2007 - 48% of the total labor force worked for small enterprises

• 30% of all Canadians either run or work for a small business

• 2006 - Small businesses accounted for approximately 23% of Canada's GDP (almost double compared to two decades ago)

Prime Minister Stephen Harper says,

"Small businesses are, in fact, the backbone of the Canadian economy, accounting for 98% of all businesses in Canada."

Be proud to be small. Next time someone says that your business is too small; tell them that you at least have backbone.

Keep swimming Little Fish!

Are You Striking Out?

As a little fish in the pond of big businesses, it's easy to get excited about every opportunity that comes your way. Carefully analyzing your options to be sure they line up with your business model and planning, will have you making better decisions for a more profitable future.

Just because you're being offered a new product or service, it doesn't mean it's the right answer for your business and it certainly doesn't mean you have to subscribe to it.

Analogy

You've finally been invited to play in the big league and you can't wait to get up to bat. Before you can blink a few times, the pitcher is throwing balls at you and you start swinging away. Some of them are a bit beyond your reach, but you're so grateful to be playing their game, that you swing at every baseball that comes your way and strike out on the third pitch.

Know your plan and how you want to play your game and before you know it, you'll be winning.

Keep Swimming Little Fish!

Do Your Customers Come Back For Seconds?

As a little fish in the pond of big businesses, it's not enough to rely on passion alone for what you do, to keep bringing in customers. You need to have a plan with processes in place, so that when a client decides to give you a break and try your company, you're able to deliver on your brand's promise of quality, value, service, results and integrity. You may not get a second chance to impress them.

Analogy

A turkey that smells good, looks good and tastes good is exactly what your guests expect, but the problem is that you've never cooked a turkey before. You're don't know how long to thaw it for if you've bought a frozen bird, you don't have any stuffing recipes, you don't know if you should season it with sage or sugar, you're not sure at what temperature to cook it at, and you don't know for how long to cook the turkey. All you know is that you've sent out the most welcoming and mouth watering invitation for a turkey dinner, that all who received it, accepted it with great excitement.

When Thanksgiving day finally came, you thought you could just go ahead and start cooking with no preparation. Your guests sat in anticipation while their tummies rumbled, but when they cut into their turkey, it was pink. Not only did they not eat what was on their plates, they clearly didn't ask for seconds and gracefully declined next year's invitation to turkey dinner.

Keep Swimming Little Fish!

Should You Continue Growing Your Business Once You've Reached Your Goal?

As a little fish, you start out with a vision of what you want your business to look like in a few years. You work diligently at mastering your trade and developing your client base and before you know it, your business is full. However, once it's full, you stop, and switch your vision from growth, over to preservation.

Have you considered what would happen if you stopped growing your business?

Analogy

One drop at a time, you've filled your cup to the brim. You hold and balance your cup, so that nothing spills out from it and don't dare add to it, because your cup may overflow.

If you don't add fresh water to you cup:

1 Your water will get stale and smelly and no one will want to come near it

2 Your water will evaporate, leaving you with less and less every day

Continually growing in knowledge, adding improved methodologies and developing your expertise, means you're ultimately adding clients and positioning your company for longevity!

Keep Swimming Little Fish!

Are You Still Standing in The Shadows?

When you're a little fish in the pond of big businesses, it's easy to stand in the shadows of the big fish. If you're a start up business, it's smart to stand in their shadows at first, because you learn to do as they do, and if they're successful, you too learn to be successful.

If you're no longer a start up and have been in business for some time, you need to get out from the competitor's shadow. You can complain all you want about how no one knows your company exists, but the reality is that no one does know you exist if they can't see you in the shadows.

Always remember that no one put you there but you. Push your way out from the shadows and make yourself some elbow room, so the sunlight can shine upon your business too, but take a look behind you every so often to see who is standing in your shadow.

Keep Swimming Little Fish!

Is There Enough Oxygen In Your Pond?

Oxygen means life, so if you want to be successful, be sure to keep your business pond clean, clear and healthy.

1 Little Fish Fact:

Bacteria in a fish tank use up the valuable oxygen.

1 Little Fish Philosophy:

Get rid of any negative factors in your business that may be bringing you down.

2 Little Fish Fact:

All plants in a fish tank consume oxygen even if they are good plants.

2 Little Fish Philosophy:

Even though a new employee, a new service or even a new photocopier may seem like a good idea, your small business may not be ready to take on a any additional commitments.

3 Little Fish Fact:

Smaller fish require more oxygen than larger fish.

3 Little Fish Philosophy:

As a growing company, you need more positive influences, more resources and more clients to grow.

4 Little Fish Fact:

Water leaking out of the tank will give the fish less room, less dissolved oxygen and greater concentrations of waste.

4 Little Fish Philosophy:

Be sure to have consistent infiltration of positive people and keep out the negative ones that can bring you down.

5 Little Fish Fact:

Fish with limited oxygen don’t eat much and therefore spend their time gasping for air.

5 Little Fish Philosophy:

Keeping your business clear of any obstacles, will allow you the time and energy to look for new clients, instead of always doing damage control.

Keep Swimming Little Fish!

Swimming For Survival

I have two pet gold fish and that's not because of my company name, but because someone gave me one and I bought the second to keep the first one company. These 79 cent feeder fish, whom I've named "Goldie and Fin", swim in a bowl just like the one in my logo and over the past 3 months, I've noticed some very interesting behaviour.....

1 Little Fish Fact:

If they don't swim and look for food....they don't eat and will eventually die.

1 Little Fish Philosophy:

The bills can't get paid (let alone be successful) if you just sit there and wait for the phone to ring. Go out and look for your ideal client.

2 Little Fish Fact:

The smaller fish eats all of the smaller flakes of food.

2 Little Fish Philosophy:

Your larger competition isn't interested in your prospects, but you should be interested in the prospects that are too small for them!

3 Little Fish Fact:

If they hide under a rock....no one knows that they're there.

3 Little Fish Philosophy:

Do your potential customers even know that you exist? Get out and get noticed and of course, do good work!

4 Little Fish Fact:

The smaller fish can reach into nooks that the larger fish can't.

4 Little Fish Philosophy:

Look for clients that your larger competitor can't find.

Keep Swimming Little Fish!

Does Your Company Have Roots?

As a small business owner, it's essential to build a strong company from the ground up, but sometimes we're focused on building only one of the following:

1 External Factors-Marketing and advertising

2 Internal Factors-Product development and operations

Small business owners often get side-tracked on doing only the things they love to do the best, but without careful planning of both internal and external factors, your company won't achieve it's full potential. It's easy to work on the fun stuff like creating your business name and marketing materials, but it requires more discipline to develop and implement intelligent operations-practices that will help sustain and grow your company for long-term success.

Other than the "External Factors", have you considered the "Internal Factors"?

• Finance - financial plans, budgets, bookkeeping / accounting, legal, so that you remainfinancially viable

• Market Research - continued efforts in gathering information about your customer and your competitor

• Product Development - continually improving your product / service to meet the needs of your customers

• Employee / Contractor Relations - making sure that you've not only recruited the best talent, but that they're motivated, productive and fairly compensated for their efforts

I like to call the "Internal Factors", the roots of a company. Without roots, your company won't be able to weather any storms and trust me, there will be storms and you best prepare for them.

Analogy

Consider the foliage of a tree, as being the "External Factors" that everyone sees. They provide beauty for eyes, shade from the sun and a home for animals. Now consider the roots of a tree, as being the "Internal Factors", that provide strength and stability. If your tree has roots and a storm does come, your tree won't come down. It may lose it leaves, but be assured that your tree will bud again next spring. If your tree has no roots and a storm does come, you will lose the entire tree and be left with a big hole.

Keep Swimming Little Fish!

Do You Work By The 2/3 Full-Rule?

Twenty or so years ago, a well-seasoned and successful business associate of mine gave me some free advice. The advice was to fill my workday so that it was only 2/3 full and leave 1/3 open for the unknown. At first, I felt that this type of scheduling was unproductive, but I quickly learned that it was essential to running a successful company.

Imagine a day filled with back-to-back meetings and calls, and the action items that would come as a results of them. If your day is filled to capacity, when will you get to returning subsequent calls, writing proposals, fulfilling requests, answering questions, actually running the day to day operations of your company, putting out fires or even take on new business? The answer to that would be to work 60 hours a week and if you work 60 hours a week, stress would increase and quality would decrease.

If you work by the 2/3 full-rule, you will dramatically increase the quality of your service and decrease your stress.

Analogy

I have a fish bowl on my desk with two gold fish in it and if I fill the bowl with water to the very top, it would over flow if I added anything to it. I wouldn't be able to add another fish, or move around the pebbles and the fish would have to swim very carefully without making any quick movements, otherwise everything would spill over. If I keep the bowl 2/3 full, then there is room for the fish to swim freely and room to add others.

Give your day, room to grow!

Keep Swimming Little Fish!

Smart Fish Swim In Schools

As a little fish in the pond of big businesses, it's vital to your existence to swim in schools with others instead of running like a lone wolf.

6 Little Fish Reasons Why You Should Swim With A School

1 Little Fish Fact:

Fish that swim alone will be eaten by their predators.

1 Little Fish Philosophy:

There is safety in numbers. Be sure to belong to a business group of professionals where you can share best practices and not be destroyed by the larger competition.

2 Little Fish Fact:

Swimming in schools increases the chances of finding food easily.

2 Little Fish Philosophy:

When you belong to a business group, the other members will have the opportunity to get to know you and refer business to you.

3 Little Fish Fact:

Fish only swim in schools with fish of the same species.

3 Little Fish Philosophy:

I'm not saying to be part of a group of competitors, instead be part of a group of complementary businesses that can feed you and that you can feed in return.

4 Little Fish Fact:

Fish that swim in schools conserve more energy.

4 Little Fish Philosophy:

When you belong to a business group you learn from other people's mistakes, so that you don't have to make them all yourself.

5 Little Fish Fact:

Fish that swim in schools are able to swim in unison and never collide with each other.

5 Little Fish Philosophy:

You are better able to reap the benefits of your business group if you are kind and respectful to the others in the group.

6 Little Fish Facts:

Fish that swim on the inside of a school are better protected.

6 Little Fish Philosophy:

If you're a consistent member of your group, you'll be in the hub and those in the hub will receive most of the attention and the leads.

Keep Swimming Little Fish!

Are You A Little Fish In The Pond Of Big Businesses?

Now that I have my feet or should I say "fins" wet with having written a few blogs, I can now say that I have officially launched my little fish philosophy blog. It's about good business principles that help create and run a successful company.

If you haven't already visited my website www.littlefishbigpond.ca, I can tell you that it is about supporting smaller companies with business development and marketing strategies. As a little fish in a big pond myself, I can tell you that there will always be bigger businesses out there than yours who have larger market shares than you do, but that shouldn't stop you from being proud, passionate or successful!

Little Fish Philosophy Tips For Success

1 Little Gold Fish Fact:

Goldfish can live in very cold water and in ponds that are frozen over.

1 Little Fish Philosophy:

As a little fish in the pond of big businesses, you have the ability to endure harsher conditions.

2 Little Gold Fish Fact:

Goldfish can live 20 years or more and the oldest ever recorded was 43.

2 Little Fish Philosophy:

Your business has longevity, so plan to be around.

3 Little Gold Fish Fact:

The colours of a goldfish comes from their skin not their scales. Their scales are transparent.

3 Little Fish Philosophy:

Let you clients see your true colours, the real you. Don't hide behind your brand - you are your brand.

4 Little Gold Fish Fact:

Goldfish kept in dark places will loose their colour, but will have more vibrant pigmentation in the sunlight.

4 Little Fish Philosophy:

As a small business owner, it's essential to be out in the open where people can see how bright you really are.

5 Little Gold Fish Fact:

Goldfish are able to see ultra-violet and infra-red light. This also means that they have a greater spectrum of visual colours.

5 Little Fish Philosophy:

You are able to see not only such detail, but you are able to see opportunity where a big business may not.

6 Little Gold Fish Fact:

Goldfish usually tend to live in groups.

6 Little Fish Philosophy:

Always network and be with people who support you.

Keep swimming Little Fish!

Beauty Is In The Eye Of The Beholder

Once a client recognizes that a supplier has the exact skills needed for the project and the supplier recognizes the opportunity they have with that potential client, what else helps to cement that business relationship between the two? ...The x-factor - an intangible connection, a mutual understanding, trust, honesty, a kindred vision and personalities that work well together.

When you've found that connection, don't let others persuade you otherwise! If they try, it's probably because they didn't have the same connection as you did and that's OK. Not every business relationship is the same. You just have to remember not to be that person who does the "persuading otherwise". If you are, then be certain that you've discredited yourself.

Analogy

Your friend has just found the person of their dreams and for months, you've heard nothing but wonderful things about them, but when you finally meet them, you decide they aren't your type. That's correct...they're not your type, they're your friend's type. It's not about you, it's about them. Beauty is in the eye of the beholder, so why would you want to be the one who comes between true love.

There are just as many clients as there are suppliers who can equally deliver, so concentrate on finding your own business relationships with that x-factor without destroying someone else's connection.

Your Supplier Is Your Customer

Everyone in your network is your potential customer. We're so obsessed with customer service (I certainly am), that it's easy to neglect your suppliers. Somehow, they make it to the bottom of your "calls to return" list and sometimes they don't even make the list at all! Ouch!

In business relationships with suppliers, where we are their customers, we have to always remember that they too are our potential customers, and that means they should make it to the top of your "calls to return" list along with your customers. It means being courteous, respectful and professional.

Why is this important you ask...

• Well first of all, your supplier may need your services one day and they won't give you the business if you have dodged all of their calls or have been rude to them.

• Your supplier can refer others to you. You have to treat you suppliers well, so that when someone in their network asks them "who do you know...", they will give your name.

• Your supplier will give you preferential treatment. When you treat others well, they will go out of their way to help you, especially if you have a tight deadline or budget.

My clients are so kind and respectful to me (their supplier), and because they embrace this attitude, I'm over the moon about recommending them to my network. I'm confident that my network will be treated just as well as I have been, and that's a refection on me. It's a win -win!

Don't neglect your suppliers, embrace them. Call one today !

What Is Branding?

Branding is the Perfect Marriage between an Effective Visual Brand and an Exceptional Brand Experience.

An Effective Visual Brand WITHOUT an Exceptional Brand Experience = a DISSATISFIED CUSTOMER that will tell everyone.

An Exceptional Brand Experience WITHOUT and Effective Visual Brand = A SATISFIED CUSTOMER that forgets who you are and can't tell anyone about you.

You need to have the Perfect Marriage.

Analogy

Just like a real marriage, you not only need to be attracted to your mate, but you must also love who they are, love how they treat you and love what they stand for in life.

Imagine someone trying to set you up on blind date and they say to you..."they have a great personality". You automatically think they're not attractive, so you don't want to go out with them, even though they may be perfect...OR... They say to you... "they are so hot", but when you do go out with them, you find that you loose interest quickly because you don't like their personality.

You want your prospective customer to be attracted to your company and when they finally experience your company, you want to know that you can keep them coming back and bring others with them.