Pat McNamara, Marketing Consultant

Failure to listen to potential customers or clients has sabotaged many a great idea or product, especially among entrepreneurs who lack empathy and act as if they know all the answers. Such a self-centered approach to doing business is bad enough when the economy is booming, but it’s fatal during a recession, when thinking about the other guy is essential.

Self-centered assumptions lead some entrepreneurs to commit one or all of these seven deadly sins of marketing and sales:

It’s all about me. “I may not be much, but I’m all I think about.” That slogan on a young man’s T-shirt caught my eye on a recent business trip, as did a similar pronouncement on the T-shirt of a woman in my hotel lobby: “It’s all about me.” Extreme self-consciousness underlies stage fright and is a barrier to successful sales. When a speaker or salesperson genuinely wants an audience or individual to understand a concept or make the right purchase, self-consciousness vanishes.

We are so much alike. In truth, we are all very different — in the things we value, how we think and make decisions, the speed with which we walk and talk. Some of us value relationships and strive for collaboration. Others focus on results. Some people make instant decisions, while others ponder for weeks. Appreciating diversity is critical to tailoring a sales pitch.

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Julianna Barbee, Director, NM Small Business Development Center at NNMC

Few things are as effective as a global economic crisis for identifying the qualities of leadership most likely to inspire optimism and involvement. Whether it’s in the world of politics or business, the most effective leaders exude both confidence and pragmatism and are inclusive and decisive.

Leadership in business means creating an environment in which people’s strengths are reinforced and their weaknesses offset, which is why the most effective leaders surround themselves with other leaders, not just experts in their chosen field.

Studies show that when something negative happens within the workplace, blaming the individual or individuals involved can often hinder our ability to see the larger context in which it happened.  Recognizing the fallibilities and possibilities of being human allows business leaders to unlock the energies of every team member and increase collective excellence and performance. A united team can focus on all areas at once rather than succumbing to the natural tendency to pay attention to one problem or opportunity at a time and get lost in the details.

Whether you are a business owner or an employee of a large or small organization, these leadership traits can help you and your business become more efficient and more productive.

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Gena Wilimitis, PR Coordinator, Securities Division, New Mexico Regulation and Licensing Department

The Securities Division of the New Mexico Regulation and Licensing Department is cautioning investors to avoid making impulsive and uninformed decisions about their long-term financial holdings in response to the unprecedented volatility on Wall Street.

“Investors should resist the temptation to make hasty decisions about their investments or finances,” division director Bruce Kohl said. “And now is the time to be especially wary of unsolicited financial advice offering new investment opportunities. We know from past experience that con artists follow the headlines to exploit the worries of everyday investors. In times of confusion and uncertainty, there are always those who will try to prey on the investing public.”

Turmoil in the home-mortgage market creates opportunities for crooks to peddle phony real-estate investments that promise enormous returns, Kohl said, and soaring energy costs have inspired scams disguised as oil and gas partnerships and alternative-energy projects. The Internet has given a global grasp to con artists who disguise themselves as online “friends” eager for your partnership in money-making ventures.
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Leslie Hoffman, Director of Lending, ACCION New Mexico

Remember your favorite first date? Think about what made it special for you.  Maybe it was the way your date listened and took an active interest in you and the things you care about. It could have been the extra care your date put into looking just right for the occasion or the bouquet of flowers that greeted you at the door.

Making a good and lasting first impression in business is a lot like a memorable first date. In a competitive marketplace where consumers, companies and government institutions have multiple choices about where and how to spend money, it’s vital for small-business owners to remember that selling yourself can help you sell your product or service.

A common mistake of business owners is failure to make a positive and lasting first impression, but it’s a mistake that’s simple to correct by following a few simple steps.

Be prepared. Begin building a lasting first impression even before your meeting starts. Know everything you can about your product or service. This might include having a portfolio of work or product samples or other promotional or marketing materials. Be prepared to answer commonly asked questions. Remember the adage: Failure to prepare is preparation for failure.

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