Data Security doesn’t have to be complicated. This guidebook will give you the essential insights you need to protect your data and help you assess where you are as a business.
This guide, in partnership with Xlingshot, will give you the tools to start your security plan with these tips and more:
"Any way you want it” is more than just a line from a Journey song – in an Amazon era, it’s the mantra for today’s consumers. They can get almost anything they want with the tap of a finger. It’s that “right now” customer experience, and companies, no matter the industry, are finding ways to adapt to the consumer’s on-demand needs, even in the utility industry.
In June, energy leaders Adrian Tuck, CEO of Tendril, and Colin Lamb, product development team lead for Xcel Energy, shared how the utility industry is adapting to the on-demand, tech-driven market at EPIC (Energy Professionals in Colorado), an event in partnership with the Colorado Energy Coalition to share trends and discuss the latest in policy and regulation for Colorado’s diverse energy industry.
Check out our favorite takeaways from Tuck and Lamb and how you can apply them to your business – no matter your industry.
Data matters. What data is collected and how you use it to better serve your customers is critical – but, you’ve got to know what information you need to improve your customer experience. In the aftermath of Facebook, Cambridge Analytica and GDPR, customers are cautious about the information they share with companies. As a business, you need to first establish trust.
“It’s got to be right in order to keep that trust,” Lamb said. “[Consumers] trust utilities to keep the lights on and the water running.”
And, having valuable data can help you market to existing and potential customers. Tuck noted customers in his industry are twice as likely to own solar panels if they own a dog. Data allows you to consider a different market then you might not have considered.
Check out these tips for how to harness the power of big data for your business.
Make convenience your competitive advantage. In an age where most consumers are tech savvy, you want to think about how to provide that value to a customer. Google recently found that mobile searches related to “same-day shipping” have grown 120 percent since 2015, showcasing how consumers are opting in for convenience.
“It’s customer-first thinking,” Tuck said. “Give consumers a simple choice to match their lifestyle.”
Consumers are moving fast and technology is moving even faster. With its ability to disrupt any industry, it’s important to keep your eyes open to changes and opportunities in the marketplace. The utilities industry is looking to technology to change their customer experience from developing two-way communication when customers are on vacation to adjusting their utilities to reduce use and in the end save the customer money. The hope is to “have a two-way partnership [with the consumer] where we can push efficiency with the growing technology,” Lamb said.
Share with us how you do business in an on-demand era.
Laura James is the marketing and communications coordinator for the Denver Metro Chamber.
Summer is right around the corner. Is your sales pipeline ready?
Some businesses do have seasonality, when sales are brisk in one season and slower in another.
The key to success in consistent, monthly sales is pipeline strength. And one part of an accurate pipeline (your sales forecast) is understanding the length of your sales cycle.
If your sales cycle is six months from start to finish, then it doesn’t matter how hard you prospect now; it won’t affect summer sales, but it will impact your fall. Understanding that cycle is critical.
Here are three areas you can manage to build a strong pipeline:
Activity
Are you doing enough of the right prospecting to create conversations with people that fit your ideal customer profile, farming existing customers (a great resource) and new prospects?
The right prospecting might include:
Some of this prospecting is active (talking directly to prospects) and some is passive (putting it out there, say through advertising, and hoping someone responds). Some are short-term and some are long-term, but all have value in a sales plan.
For companies that rely on consultative selling, the only way to start the process is for someone to call you or you call someone. There must be a direct conversation.
Also, you must have your ideal customer profile (ICP) defined. This is your segment of the overall market, based on clearly defined quantitative and qualitative criteria, that represents those who have a perfect “fit” problem for your solution, and who are able to buy it. Don’t waste time on those who aren’t a good fit.
Pipeline
This is an objective reflection of the particular stage of specific opportunities in your sales process. It isn’t a guess or a percentage likelihood that they might close.
If you do enough of the right activity, you’ll book qualified appointments with the right people. Assuming you follow a clear, defined sales process, the prospect and you will travel together down a path through “qualified” to a close or a “no.” Because you followed a process, you can understand why the opportunity did or didn’t close. And you can learn from it and do what it takes to fix the problem.
There typically four reasons why a sale goes south:
Closed business with new revenue
The last area is results – profitable revenue for the company. If you did everything else right (activity and pipeline) then this is the easiest part.
The best way to assure consistent sales performance during the summer is to step up your prospecting activity (and track it carefully), manage and control your pipeline (quantity, quality, balance and velocity) and watch the results roll in.
Learn more about the Building Sales Success Series with the Denver Metro Small Business Development Center.
Steve Parry is the president of Sales Productivity Consultants and Denver Metro Small Business Development Center’s Building Sales Success series instructor.
The golf course is one of the prominent places for networking; it helps people to find a common ground and get to know each other and their businesses outside of the boardroom.
The Chamber’s sold out Golf Classic combines the love of golf with the importance of networking. Check out these three tips on how to work the room or the course, and learn how to grow your network.
Networking is a two-way street
The strongest relationships are formed when you spend the time to genuinely get to know the other person. Don’t just pepper them with questions; find out more about their business and inform them about yours. Creating a platform for dialogue will continue the relationship beyond the event.
Chamber tip: Networking is building a strong foundation for a relationship. Check out the right way to network to develop your networking skills.
Think people, not positions
The person that you are talking to is more important than their title. Make it your mission to find the value in each person that you talk to, because you never know what can come out of each conversation. You don’t know where they are going to go in their career or how that connection could help you in the future. Building those concrete relationships are key to maintaining and expanding your network.
Chamber tip: When you have a mindset of reciprocity, you make more meaningful contacts. Learn how to network like you really mean it with these eight tips.
Always get a second date
At networking events, it is often hard to gauge if that initial impression is worth continuing. That is why it’s important to secure a second meeting; make sure you get their contact information to follow up with them to build that new relationship.
Chamber tip: Make the first impression count to lead to a second interaction. Make the most of the time you have and check out the three ways to build leads in 90 minutes.
Take your networking skills beyond the driving range and check out the Chamber's upcoming networking events to put your skills to the test.
Laura James is the communications and marketing coordinator for the Denver Metro Chamber of Commerce.
In the marketing world things are always evolving – from the most-loved social platform to the average length of a video. But you don’t have to go through all of these changes alone (or spend a ton of money)!
We compiled our favorite free marketing resources to make your day-to-day tasks easier and more efficient. Check out our eight marketing resources:
Blogging: You can be your own media outlet, sharing your expertise in your field, and your blog is your content hub. While direct traffic is growing again, there are a number of places that can refer people to your amazing content. In addition to your blog, you should consider reposting your content to LinkedIn using its blogging feature or Medium. It’s a quick easy way to repurpose your content and reach more people.
Email Scheduling: Design your emails to represent your business’s brand with MailChimp. This email marketing tool allows you to create email templates, schedule emails in advance and even segment your email list (segmented campaigns have a 55 percent higher click rate than other campaigns). MailChimp’s forever free plan allows you to send up to 12,000 emails per month and have 2,000 subscribers on your list. One helpful hint: MailChimp offers marketing guides from Instagram to website landing pages. They are a one-stop shop for marketing.
Design Tools: Want to keep your brand’s graphics fun and engaging, but don’t have an in-house graphic designer? Play around with Canva – a free design tool to create social media, email, marketing materials and more. This tool is easy to use and stores all of the graphics you create. And, if you have little to no design experience they have tutorials to get you started.
Photography: Are you always searching for that perfect photo? Whether it’s a business meeting or humorous image, Pexels has you covered. This tool has some of the best free stock photos all in one place. With over 40,000 photos you’re be sure to find just the image you need.
Social Media Scheduling: Keep your social profiles active without the daily fuss. Hootsuite is a content scheduling tool where you can queue up posts, set it and forget it. The free version allows up to three different accounts, and is usually robust enough for a small business, but there is always an option to upgrade. Basic analytics are included in the platform to give you a better idea which posts spark the most engagement. Need a social media crash course? They have that, too.
Video Editing: Smartphones have made shooting short, fun videos simple – and if you want to be seen on social media it’s becoming an essential for any brand. While the tools to edit straight from your phone are getting better, we personally like free tools like iMovie for Mac users and Lightworks on a PC.
Website Analytics: Google Analytics is a free tool that provides real-time data that help you understand your website performance, such number of users, where they are coming from and what they’re clicking on. As a business owner or a marketer, it’s important to capture and analyze this data to inform your sales and marketing efforts, and focus on what’s most profitable. Check out Google Analytics for Beginners to get started with free online training. If you’re a nonprofit, see if you are eligible to take advantage of Google Ad Grants for in-kind AdWords advertising to get your organization seen in Google Search.
More Marketing Resources: If you need access to an expert or have a specific, unique challenge, reach out to Chamber affiliate, the Denver Metro Small Business Development Center. They offer no-cost, confidential consulting with industry experts to tackle your wickedest business challenges. Find a consultant.
The summer offers plenty of time to catch up on a good book, whether that’s at the pool, on a plane or over lunch. We asked the consultants at our affiliate, the Denver Metro Small Business Development Center, to share their favorite business books, from entrepreneurship to leadership.
We hope you add these business books to your summer reading list and if you want to discuss recommendations further or utilize SBDC’s free consultants, stop by the SBDC and meet with a consultant!
Building a Successful Business
The Results Map by Kimberly Alexander
This book takes a new approach to planning and increasing outcomes while maintaining work-life balance. “[It’s] an easy read that gives practical advice for business growth,” said Louise Walsh, SBDC business planning consultant.
Taking Risks
The River of Doubt: Theodore Roosevelt's Darkest Journey by Candice Millard
“While not a business book, this is an incredible story about taking risks, seeking adventure and being comfortable in the unknown,” Herman said. “Lessons any business person can learn from!” As you get a history lesson, you’ll learn about how one president took a leap of faith to explore uncharted territory.
Building, and Keeping, Your Team
Top Grading by Bradford Smart
Finding the right talent for your company is important. Learn how to hire and promote in order to develop the right talent in this summer read. Janet Hoffman, SBDC human resources consultant, recommends this book because it “revolutionized staffing and building effective teams.”
The First 90 Days by Michael Watkins
“[It’s] important for managers to pay attention to onboarding,” Hoffman said. “It can make the difference if a new hire stays or goes!” This book dives deep into how you manage transitions in your company. You’ll also get checklists, tools and self-assessments.
The One Minute Manager by Ken Blanchard and Spencer Johnson
“It's an oldie but goody for sure!” Hoffman said. “It provides basic management skills that are spot on and easy to implement.”
Patents and Trademarks
Steven Schneck, SBDC trademarking and copyright consultant shared his two indispensable books for entrepreneurs getting started with patents and trademarks.
Patent It Yourself by David Pressman
This step-by-step guide to filing a patent is a must-have if you’re thinking of filing, Schneck said: “It is the best overview of a difficult topic and a great way to get informed before you see an attorney.”
Trademark: Legal Care for Your Business & Product Name by Stephen Fishman
Discover how to protect your business’s name, logo, key products and more in this book. “An excellent overview of a complex topic,” Schneck said.
Leading Well
Start with Why: How Great Leaders Inspire Everyone to Take Action by Simon Sinek
You’ll learn about leaders who’ve had the greatest influence in the world and how they think, act and communicate to inspire. And, you’ll learn how you can implement the why into your business. Steve Parry, SBDC sales and marketing consultant said this is the “must have first step to starting a business.”
Laura James is the marketing and communications coordinator for the Denver Metro Chamber.
In theory, workplaces should be productivity powerhouses – where boxes are checked, goals are met and results are made. But too often, people in those workplaces lose sight of what’s important and become filled with meaningless routine activities: meetings held without agendas and reports developed without purpose. Left unchecked, extreme oversight can risk losing sight of company goals altogether.
Fortunately, there are tangible ways to prevent ineffective workplace culture, and it begins with functional communication in our company meetings.
Here are a few tips to keep in mind:
Make Your Meetings Matter
This sounds like common sense, but make your meetings matter. You would be surprised by the number of meetings held without a goal, plan or agenda. Don’t know if your meeting is unproductive?
A meeting is unnecessary if:
• Your presence is not required
• Someone who really does need to be there isn’t
• The discussion goes off track
• There’s no clear goal
• The meeting organizer isn’t prepared
• Communication systems (conference bridge, web conference, etc.) are glitchy
To prevent ineffective meetings, make sure all attendees know why they’re included. The practice fosters the understanding that meetings are for a specific goal and that attendees should come prepared.
Employees need to know their materials, anticipate questions they’ll need to answer and prepare questions to ask others. If you’re the leading team member, this point is especially for you.
Share Responsibility
If possible, consider switching up who leads team meetings. Rotating roles encourages meeting attendees to stay focused and be aware of the team’s activities and goals. For example, if a team member knows he or she is leading the meeting next week, that individual is going to be alert at this week’s meeting. This practice will also help smooth over any transitions due to vacations or sick days.
Measure Meeting Effectiveness
How do you know if your meetings are effective? How do you know if you’re meeting company goals?
The answer lies in measuring and monitoring.
At the beginning of each reporting period – financial quarters or months – set out a list of goals you want your team to achieve and write out the ways in which goals will be measured. A clear, reachable goal should be a SMART one.
A SMART goal is one that is:
• Specific
• Measurable
• Achievable
• Relevant
• Time-bound
Setting goals will keep everyone results-focused and provide transparency across team members. This will also paint a good picture of where the team stands and how they’re progressing against the overarching company goal.
As workers, we spend a lot of our time in meetings. According to The Muse, middle managers spend 35 percent of their time in meetings, and upper management spends a whopping 50 percent.
It’s about time we make good use of our time, and it all begins with how we communicate in our meetings. So, the question is: How are you
organizing your meetings?
Learn more about how you can transform and grow your business here.
Shawn Adamson is the vice president of Comcast Business for the Mountain West Region
