Are you dumbing down your business? 
Is your bottom line suffering because of it?
By Maria Marsala

What you may ask?  Me, dumbing down? And it might be part of the reason—a big part, actually—of why your business isn't doing as well as you’d like—in other words, you may be doing it without realizing it.

Let me explain.  And first of all, let me say that I’ve done some dumbing down myself, realized that I was doing it, and was able to catch and stop it sooner the next time, and so can you!

Are you dumbing down your networking?

How many organizations are you a member of only because of habit?  Or because of a few friendships that you don’t want to lose? (You can continue them elsewhere, you know!)

How many events do you attend where 75% of the attendees are YOUR ideal clients?  If you’re not happy with the overall caliber of your clients, and you want better ones, you need to be at events where you'll find them.

Attending meetings of your industry is very helpful so you stay on top of trends, but membership in just one such association is probably enough!

And don’t be afraid to be the only “one” in your industry at a networking event.  If your ideal clients are there, it only makes sense for you to be there, too.  For example, a business coach might attend a meeting of lawyers because they’re her ideal client; she may be the only non-attorney in the room and that’s okay. In fact, “sticking out” in this situation is definitely A-OK!

Do you need new “business friends”? 

Are you hanging out with the same people at networking events because you’re comfortable with them? Are they people at the same level of business you are? It’s like playing tennis. If you play with people who are better than you, your game will improve. If you associate with people at your level or below, your game gets “stuck” and there’s no forward motion.

Also be on the lookout for business “friends” who tell you you’re charging too much.  If you’ve done your research, are earning what you deserve, and pricing your services according to the value you provide your clients, you’re doing great!  Allowing others to influence your price-setting – in a downward trend – is another way of dumbing down.

Now I'm not suggesting that you get rid of all your business contacts; however, it may be worth taking a second look at how you’re spending your business time.  If our time is worth money, then it's time to take another look around at how much "money" you're wasting by, for example attending the same meetings over and over again, and talking to the same folks, without ever seeing any positive results.

How do you know if you're dumbing down?  Are the people you’re meeting for coffee, lunch, etc. truly adding something to your business?  And vice-versa -- are you adding to theirs in a mutually supportive and beneficial business friendship?

And then there’s Web 2.0…

In addition to in-person networking, there’s also social networking.  Are you dumbing down in that arena?  By my estimation, there are about a zillion social networks. Which social networking services do you use?  

Linked In (the users of this service are executives and business owners from all over the world) is always mentioned prominently.  A lot of business owners are building communities on Facebook.  Seven years ago, RYZE was "it."  And if you live in the UK, Ecademy.com is the place to be.

If you have no presence at all in any social media, you’re a little out-of-sync with the industry, another variation of dumbing down.

What are you reading? 

Recently, I realized that I was reading too many ezines – simply out of habit – from business owners (some just about making 6 figures and others making less than that amount ) who were undercharging and offering everything they do – products and services -- at discounts. I’m constantly bombarded by Internet marketers who send me sales letter after sales letter. I started thinking, ‘why am I reading this?’ Out of habit, I realized, and because I got a nugget or two from them.

But I realized that all this was dumbing down on my reading. So now, as newsletters arrive in my inbox, I ask myself. "Is this person a mentor to me? Do they have a business that is where I want to be in a few years?"  If the answer is no, then I unsubscribe. 

What newsletters, magazines, or ezines do you read?  Read the ones that challenge you and stop reading the ones that are “old news.”  Read the ones that consistently give you nuggets. Here’s another idea to consider: I purposely read ezines from people outside my field for new strategies. What you want is reading material that makes you stop and think, or offers you “how to” suggestions you can use right away.

Do you price your services or products correctly? 

Pricing your services is another area to examine. Are you a business owner who is making less than you should or could be making?  Do you even know what you should be making?  

Many don’t know what competitive pricing is, let alone know how to do the research to determine their pricing (hint, pricing your service on the lowest end is NOT pricing your service competitively).

And even if you do know the going rate, do you stick to one pricing strategy or do you offer three or four options that may attract better clients who will pay you more than even you think you're worth?

Are you working with your ideal clients—or clients from hell? 

Let’s look at the latter first – and figure out how to get rid of them!  First on the “let them go” list are the clients who never send you referrals because they’re embarrassed to tell anyone they’ve hired you.  Maybe they’re afraid that if they tell others about you they’re not appearing self-sufficient.

These clients are an excellent example of how your clients can represent a “dumbing down” of your business – and they’re not great for your bottom line either!

Are you a business owner who says yes to anyone willing to buy from you -- even people you know will be crappy clients -- because you're afraid of saying no?  If you have clients who don't return your phone calls promptly, don't email or call you when they’re supposed to, my question is why!?!

It's hard to say “no” to money.  But a potential client who schedules a call, isn’t there to answer it, and then doesn't return your call is sending you a message -- loud and clear --- on what's to come. 

What about those who are never on time, expect you to run around trying to find them for their appointment, don’t show up, and then expect you to give them another appointment because after all, they’ve paid you.  (Heck, you’ve put the time aside for them, when you could have scheduled someone else!)

Another warning signal.  Some people say that they need a brochure from you - not because they really want one, but because they don't "get" the value of what you’re  selling.

My advice: make sure that your value statement is coming across loud and clear – say it a few times in your conversation.  Make sure that you’re getting to the client’s pain points and that you have the answer. 

Forego the brochure and consider getting yourself a better client.  (Having been in this situation a few times in the past, I can tell you that your clients must truly see the value in what you’re selling as the answer to their problems, and then some.)

Marketing guru Seth Godin recently wrote a blog post in which he talked about dumbing down your business leads to “dumb” customers – and those folks don’t spend as much, don't talk as

much, don't blog as much, don't vote as much, and don't evangelize on your behalf as much. In other words, they're the worst ones to end up with.

Attract a better client

The other thing you can do to make sure you don’t attract the wrong clients is to have a clear vision -– in writing –- about your company and your ideal client.  When you have a written vision of where your company is going and know everything humanly imaginable about your ideal client, you'll be less likely to dumb down.  And you’ll be much more likely to start attracting more high-quality clients, those who know what you do and value the results you produce for them.

Dumbing down–- whether it’s in your networking, reading, client choice, or pricing choices – can seriously impact your bottom line over the long term.  Bottom-line?  It gets you nothing but more aggravation and less money.  And that’s not why you’re in business, is it?

The more you become aware of these potential hazards, the quicker you’ll be on your way to recession-proofing your business.  Nip all potential problems in the bud and you can take charge of a business where you enjoy your clients, are treasured by them in return—plus you’ll make the money you deserve! [24x7]