Although Summer Business School did not turn out the way I expected, this micro venture was a success after all. By sharing some of my story, I hope that you will gain some nuggets of wisdom that may help if your business is ever in a similar situation.
First: the idea for Summer Business School didn't hatch until May of this year. In hindsight, starting a summer program a month before was not the best choice in timing, but I was excited, and wanted to start an online program for entrepreneurs immediately. I knew I had the curriculum, plus my entrepreneurial connections. Surely that would be enough to get in the game, right?!
Next, my BIG IDEA was to promote the Summer Business School online course via strategies I learned from those internet marketing gurus. I had watched tons of those automated product launches, and just knew that I could easily sell out all of the available slots. I found a software program that would enable a blog website to release videos during the pre-launch period, and then release my sales video during the official launch period.
Of course, things didn't pan out as I had originally imagined... For one thing, the software I purchased only had one tutorial video, so if I had a problem that wasn't covered in the video, I was out of luck. The other thing was that the software didn't have a service department. So if I had a problem, I had to send an email, and wait to hear back from someone with a solution. And of course, when I did hear back, I was given a solution to a problem that I wasn't even having, so I ended up waiting for another day or so. Long story short, I asked for a refund.
Next, I learned that an internet marketing friend had used another product launch software system. For the same price as the other software I had purchased, this new software offered tons of tutorial videos, many sales letter templates, a forum of other users, and a 24 hour service desk. And since my friend had already used the software in a launch of his own, I now had help via phone and email. So after installing this software on my site, I promptly asked him to be my weekly Mastermind Partner.
After the software issue was handled, I then I had to learn how to make Camtasia screencast videos out of PowerPoint slides. This was another cool thing I had seen done before, and I couldn't wait to make one of my own. Truthfully, I made a few different videos before I was satisfied. Around this time, a video guru started a product launch for a new video course, which made my original ideas seem boring. So I actually made a few videos that never saw the light of day. But finally, I decided on a Fairy Tale story theme, which offered a video contest for a consultation package, and was happy with my video.
On the plus side, since social media is one of my strengths, I was able to create and curate a content campaign on my Summer Business School Facebook and Twitter accounts. Using Hootsuite, I pre-programmed tons of tweets and Facebook status messages which enabled me to get Followers and Likes in a short period of time.
About now is when I should mention the time factor. The whole point of having a product launch sequence is that there is a pre-launch marketing period of about 3 weeks when website visitors get to enjoy your video series, and then one week or so of the actual launch. Because I was trying to make the site and videos happen all by myself in my hermit hole, I used up about 5 weeks suffering from trial and error.
At that point, I had to pivot since the summer was about half way over. My Mastermind Partner gave a workshop, and I was reminded that I could give in-person workshops too. After making a couple of calls, I booked my first Summer Business School workshop on Social Media Branding, which quickly turned into a series.
One of the fun things about doing in-person workshops is that I did a lot of in-person marketing. Schmoozing, networking, etc is another one of my strengths, and I was able to meet a lot of people. My video contest winner invited me to her Networking Club, where I announced my workshop (and got a few students). I met another woman there from a different chapter, and was invited to her meeting as well. This woman ended up becoming my mentor.
In addition to my contest winner, I took on a couple of new entrepreneurial clients. I even met a young freelancer who shared new social media tools with me. In turn, I shared business lessons with her, and became her mentor.
Over the course of the summer, I gave a series of workshops and met a lot of people who enjoyed my workshops, told their friends, and referred me to other opportunities. This was great feedback that led me know that I was on to something. And my one-on-one consultations taught me about the kind of work I like - and don't like to do.
Another cool thing that happened was that all of my online marketing brought Summer Business School to Page 1 of Google for the keyword phrase, "Summer Business School". When I realized that I was sharing Page 1 with Harvard, University of Chicago, Stanford, and the Haas School of Business, I knew that I had gotten at least some of the online marketing equation right.
And last, but definitely not least, I hired a consultant from NYC Biz Solutions to help me restructure my business. After looking at all of my offerings, he suggested that I return to (and focus on) my "bread and butter" market: musicians. As my entrepreneurial journey started with my desire to be a self-sustaining entrepreneur, it's only fitting that I take all of my entrepreneurial lessons and package them for the musicians who want them. But this time around, I'm ready.
If you're wondering how to salvage missteps in your business, here are some tips to regain your footing:
1. Ask For Help
Things starting turning around in my business the minute I sought help. Trying to do everything yourself does not work, and only serves to slow you down. By being open to assistance, I got better software, a Mastermind Partner, a mentor, and a business advisor. Not to mention the clients, and students who gave me great recommendations and testimonials. This would not have happened if I continued on my "Lone Wolf" path. If I had to do it over again, I also would have hired an assistant.
2. Flex Your Strengths
One tactic that saved Summer Business School was attending networking events. I enjoy meeting people, and was able to get new students after meeting them in person. I'm also good at giving workshops, which received high feedback ratings. Online, I'm a social media butterfly, and my ability to curate content and participate in online conversations helped me build my online platform.
3. Don't Be Afraid to Change Directions
It was very tempting to keep trying to get the product launch software to work. But without proper resources, or hiring an assistant, it was obvious that I was playing a losing game. By taking my online course offline, I was finally able to get paying students.
4. Plan Properly
Looking back, the only way I could have been successful starting in May was if I already had the three product launch videos completed, and the site working without a hitch. I spent precious marketing time dealing with my learning curve, which wasted time, and ate into my profits.
5. Don't Get It Perfect, Get It Going
We often spend a lot of time tweaking our product for the market, when we need to just release it, and improve as we go. Perfectionism is fear in disguise, and some things we can never know until we just go for it.
So it's been a circular journey, but quite satisfying. Because of Summer Business School, my musician's blog (and its readers) will benefit from the business aspects that I'll be bringing to it.
C L Hall is a small business online marketing specialist based in New York City. Known for teaching entrepreneurs how to build an online presence that attracts more clients and increases revenue, she has taught over 1,573 entrepreneurs how to market themselves online. Learn more at http://summerbusinessschool.com/
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