For the last three years or so, I’ve been having breakfast with my grandfather a few times a week. When I told him I was not going to be looking for another “real job” after getting laid off, he approved and told me that it is possible to work for yourself, but it takes a lot of discipline. He was a first class mechanic, with specialized knowledge about hydraulics and welding machines. Even though he hasn’t taken on any jobs at all during the last few years, people still call occasionally and ask for his advice.

A few days ago, he went into a little more detail about why he chose to work for himself, despite the fact he was offered several tempting jobs. He said:

I was convinced that not knowing how much money I would make the next week was the best way to accumulate the things I wanted. And it worked. I did.

This is a whole new way to look at the idea of “feast or famine.” Most people see the cycle of making plenty of money and making almost no money as a barrier to running a business, an aspect of entrepreneurship to fret about and to try to avoid. My papaw raised five children and had many adventures and not only didn’t mind the booms and busts of running a business, but looked at those cycles as an advantage.

He went on to explain that if you know you are going to earn $300 next week, you will probably spend $298, but if you aren’t sure how much you will earn next week, you will most likely hold on to more of your money, just in case. Modern day experts tell you to build an emergency fund, but very few people ever tell you that the specter of a bad week or a bad month could be the way to riches.

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Does the number of connections your company has on Facebook make a difference to your bottom line? Do more followers on Twitter translate to more money in your bank account?

 

To some degree the answer is, of course it matters. If people don’t know about you, they can’t buy from you or spread the word about how fabulous you are. When I attended a live interview with Guy Kawasaki via Skype, he said, “There are two kinds of people on Twitter. The ones who say they want more followers and liars.” My clients ask me all the time “How can I get more Facebook fans?” In some ways, yes, size matters.

 

How you interact with people matters more, because if your interactions are in line with your goals and strategy, your numbers will grow – or not, depending on what you are trying to do.

 

On July 26, on Entrepreneur.com there was an article titled “Five Lies About Social Media Marketing,” which has 136 comments as of now. The debate in those comments is lively, and a few days later, July 29, a rebuttal appeared, titled “Five Truths About Social Media Marketing.” The same five points are covered in both articles.

 

The point that both articles seem to miss is that everything depends on a multitude of factors, with the biggest one being what, exactly, you are trying to accomplish by making social media a part of your marketing plan in the first place.

 

What is it that you want from people when they connect with you? Do you want them to buy something? Do you want them to tell their friends about you? Are you simply trying to gain or retain their loyalty? What is your goal?

 

These are critical questions that you should answer before you ever try to increase your numbers of friends, connections or followers, and the answers to them will inform your marketing strategy. If you sell luxury items, scarcity may well be part of you marketing strategy. Exclusivity can be a powerful selling tool. However, if you sell $3 widgets and make a $1 profit on each one, you probably want to reach as many people as possible.

 

For just about any approach you can think of there is somebody out there using it successfully. Pretty much everything you read about social media talks about engagement. Then there are people like Seth Godin who, famously, does not engage. He does not allow comments on his blog, does not respond to comments on his Facebook page and doesn’t do much of anything at all with Twitter. Yet his books are best sellers.

 

Regardless of the approach that works best, one thing remains important: content. The information you provide, the tone of your communication, the status updates are all the ways your customers gauge whether or not they want to do business with you. Your content tells your story so make sure it fits into your strategy.

 

Have you found that increasing the number of social media connections you have makes a difference? Do you have a strategy for using any of the marketing tools you use? Do you find the tone of your content matters? 

 

 

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Are you taking care of the basics? The stuff you know you should be doing, and that only rookies or arrogant suckers fail to do?

 

If you aren’t, you are going to see a slow slide, followed by a painful THUMP. Then you are faced with the daunting task of climbing right back up.

 

I can tell you because I’m there. Rubbing my business bum and wondering how in the world I let this happen.

 

For months, I had a comfortable client list. Each of my clients was pleasant and the work was challenging, but not stressful. A few referral jobs here and there filled in any gaps in my schedule, and I had plenty of time for lunches with friends and working out and all sorts of other good things. So I left “marketing” on my to-do list week after week, and didn’t think too much about it. Yes, I’m hanging my head in shame. Such a common mistake! Who hasn’t read (or written!) a post about the importance of marketing even when things are going great?

 

Of course, even with the greatest client list on the planet, you are going to have some attrition. Things change, people move, businesses close and life generally happens. And such was the case for me – all at once, of course, because of some law written by some guy named Murphy.  Now, I’m scrambling with no one to blame but myself.

 

It was easy to let marketing go for several reasons. I didn’t really want to be too busy through the summer. I wanted to make sure my existing clients were well-served and happy. I wanted to see if it would be possible to work by referral only.

 

Excuses. Lame excuses.

 

If you are running a business that involves attracting customers (and what business doesn’t?) you have to keep on marketing. If your business is big and successful your marketing activities might take the form of networking, maintaining your brand, or simply responding to emails. For the rest of us, marketing is probably a much longer list of activities.

 

Over the weekend, I wrote a new plan. This one includes a heavy dose of daily marketing – but also a few “built-in” ways to market so that later, when my roster is full again, it will be easier to stay in the marketing habit.

 

It is difficult to publicly admit to such a silly mistake, but really, everyone messes up. Make me feel better: share your common business errors. Have you let your accounting go for too long? Stopped marketing and paid the price? Failed to respond to an inquiry? Surely I’m not the only one feeling the sting of embarrassment! 

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Yesterday I was pleased to attend an event hosted by the Social Media Club of Chattanooga.  It was at my favorite coffee house and lots of friends were there, so it would’ve been fun regardless of presenters or speakers or whatever. However, it would be hard to describe watching a “live” (by Skype) interview with someone like Guy Kawasaki as a bonus.

 

The interviewer was John Martin of the Small Business Round Table, and he conducted the interview for his Internet radio show SBR with John Martin. Each week, John interviews small business owners, successful entrepreneurs and others who have wisdom to share with those of us working to build profitable businesses. John asked Guy questions about failure, venture capital and much more as we all looked on, listened and learned.

 

Guy Kawasaki is successful and excellent at what he does. He also seems to be a genuinely nice person who is interested in helping people, sharing his knowledge and teaching others how to be…enchanting. I think, though, that some of the things he said during the interview should be put into perspective.

 

For example, John asked about the way that Guy uses Twitter. Now, Guy has been scolded many times for posting too often, using a team to post under his name and other practices that some people view as “bad” or “wrong.” The thing is, it’s working. For Guy.

 

Guy has two accounts on Twitter, and if you follow both of them, you are probably seeing his name pop up quite frequently in your stream. He says that he posts each link that he wants to share four times a day – twice on each account. Now, if I re-posted things four times a day, people would get irritated really quickly. But Guy has something like 400,000 followers between his two accounts, and they are all online at different times. Some might check things in the mornings, others in the evenings – and that’s not to mention time zones. So, if you have 400,000 followers it makes good sense to share the same thing four times a day.

 

But if you don’t have that many followers? If you only have a measly couple of thousand? You are probably alienating people by repeating yourself so frequently, particularly if you are posting links to your own stuff (Guy doesn’t do that, by the way). Most of us can get by with posting something twice, but that’s about it.

 

Guy does something else that probably wouldn’t work for the rest of us: he uses social media like a billboard. He broadcasts on Twitter, which is why he wants tons of followers. For him, a follower is a set of eyeballs that might click on a link and look at an ad – and might even click on the ad.

 

He almost never retweets anything, mostly because he says he pays no attention to his stream. He is not using Twitter to engage in conversations. This works for a man who is hanging out on the NY Times Best Seller List, owns a couple of companies and is a respected authority in his field.

 

It probably wouldn’t work for you, and it definitely wouldn’t work for me.

 

Small business owners need to be having conversations on Twitter and Facebook. We need to be talking to people, and participating in useful discussions. You know, being authentically ourselves and stuff. For the business owner with a small reach and even smaller budget, real conversations with real people who spend real money are the power of social media. We can talk to people, make them love us, find out exactly what they need then sell it to them.

 

I would never presume to say that someone like Guy Kawasaki is doing it wrong. I will say that most of us cannot hope to do it the way he is and be successful. Do you follow Guy on Twitter or like him on Facebook? How do you feel about his tactics? Would you ever try to replicate his success using his tactics?

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Kid: “Mom, it really hurts when I do this.” (Kid holds elbow in the air and swings hand around)

Mom: “Then STOP DOING THAT!”

When  you are doing something that is causing you pain – in business,  marriage,  health, whatever – it can be ridiculously easy to just keep on doing it while noticing the fact it hurts.

 

Years ago, I had a job teaching Spanish at a small, private school. It was a k-8 school with no affiliation or trust fund or anything like that. Enrollment had been declining for years, partly because the part of town where it was had gone downhill and partly because the administrators flatly refused to make any changes.

 

It took a while for me to realize just how committed to “doing things the way we’ve always done them” these folks were. In fact, I spent the first six months or so asking questions, making suggestions and being yelled at for thinking of changing anything about the Spanish program.

 

Every year on Grandparents’ Day, there was a performance in which each of the Spanish classes would put on a skit or sing a song. They had been using the same program since the first year they had a Spanish teacher. Exactly. The. Same. Show.

 

Need I actually type the words “the school ended up closing due to lack enrollment?” Because, of course, that’s what happened. There were obviously far more factors involved in the eventual shuttering than the worn out Grandparents’ Day program. The yearly rehashing of exactly the same show was a symptom of a much deeper refusal to change.

 

If something isn’t working, start tweaking. Change is scary, but not as scary as what could happen if you don’t change. If your marketing efforts aren’t making the phones ring, try something else. Evaluate. Plan. Adjust. Repeat.

 

Is there something you do on a regular basis that hurts? (Besides paying taxes. We all already know how painful that can be!) Maybe you cringe every time you rent an expensive booth at a trade show because you simply do not see the return on your investment. Maybe you spend hours writing blog posts that have never brought you new business. Where does it hurt? How can you change it?

 

 

 

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