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    Ep. 41 - The Valley of Death Stage of Bootstrap Entrepreneurship with Lou Ellman

    enJuly 09, 2018

    About this Episode

    Hi there folks!

    Creatives Meet Business is an event and podcast series based out of Austin, Texas for artists and creatives to learn the ropes of entrepreneurship.

    This episode features Lou Ellman who joined us in November during our roundtable event on Bootstrap. This episode outlines the Valley of Death Stage of Bootstrap Entrepreneurship and includes so much amazing info on how to SELL your way out. This episode is chock full of sales tips, tricks, tactics, and much much more. Without further ado, let's hop in and hear what he has to say!

    Notes:

    • 0:00 to 1:42 - Ashland Opening Remarks and Intro of Lou Ellman, Founder of RoyaltyZone
      • Like what you hear? Join us for CMBXP (9/20 to 9/22 in Austin, TX) for Lou's workshop on "Sales Skills to Grow Your Business"
    • 1:48 to 2:39 - Introduction of Topic - Valley of Death
      • Only way out is to sell your way out
      • No outside funding in bootstrapping, the only way to get funding is through sales
    • 2:40 to 6:06 - Three Concepts for Selling
      • Hunting - traditional sales prospecting, finding targets and closing deals
        • Cold calling, emailing, events, trade shows, networking, social media - identify your ideal prospect and engage with them
        • Ideal prospect - intersection of two circles; the people who want to buy your product and the people that you want to sell to
      • Fishing - marketing
        • Content is king
        • Partnerships - a way to really move the needle for bootstrappers
      • Farming - once you have a client, keep them happy to be a referral source and to stay a client
        • Service your clients as best as you can
        • Keep educating them
      • Lou's original business plan:
        1. Get a customer
        2. Make that customer ridiculously happy
        3. Repeat
    • 6:07 to 8:38 - Techniques for Selling to your Ideal Prospect
      • Qualifying - early and often
      • Two ways you win: by losing early and winning
      • Qualified prospect = willing AND able to buy your product / service
      • BANT (IBM acronym) = Budget, Authority, Needs and Timeline
      • How do you learn this info? Through a conversation!
    • 8:39 to 10:47 - Navigating the Sales Cycle
      • Actually a Buying Cycle, not Sales Cycle
      • Important to overcome objections, uncover their needs and concerns
      • Find out what and who the competition is and differentiate yourself
      • You have to drive the process forward
      • Negotiating and closing are key for bootstrappers!
      • As the person who sold the product, be part of the delivery process!
    • 10:48 to 14:47 - Tips and Tricks
      • No one cares what you think about the status of the deal. What you really want to know is what THEY think about the status of the deal
      • Listen more than you talk. Work questions in at every phase of the proposal / pitch
      • Always ask for next steps, never leave a conversation without understanding the next steps in the process from their perspective 
      • Get before you give 
      • Work backwards from the end to establish a calendar of events
      • Save the proposal / contract until the very end (discuss pricing and budget early on). Once you send this, you've lost all your leverage.
    • 14:50 to 16:48 - Ashland Closing Remarks
      • Want to come to CMBXP (9/20 to 9/22)? Great, get your badge today!
      • Like this podcast? Great! A rating and review is so helpful!
      • Stay in touch, email us (ashland@cmbatx.com) or connect with us on social (@createmeetbiz on Instagram and Twitter // Creatives Meet Business on Facebook)
      • Big thanks to Jamal Knox (audio engineer) and Chris James (composer)!

    If you like what you hear, share the podcast with your friends, and rate and review. To stay in the loop - follow us on InstagramTwitterFacebook or subscribe to the newsletter.

    More on Bootstrap, so stay tuned!

    Thanks!

    Ashland, Creatives Meet Business

    Recent Episodes from Creatives Meet Business

    Ep. 53 - "Event Marketing: If You Build It, Will They Come?" with Sarah K. Wolf

    Ep. 53 -  "Event Marketing: If You Build It, Will They Come?" with Sarah K. Wolf

    Hi there folks!

    Creatives Meet Business is an event and podcast series based out of Austin, Texas for artists, creatives, freelancers, and solopreneurs to learn the ropes of entrepreneurship.

    This episode features Sarah K Wolf, former Marketing Director of The Austin Chronicle, who joined us in June of 2018 during our roundtable event on Event Planning. She shares all about event marketing: from guerrilla tactics to ticket giveaways to ALL the avenues for extending your organic reach. If you're trying to get the word out about your event (or anything!) without spending a dime, tune in! 

    Notes:

    • 0:00 to 2:10 - Ashland Opening Remarks and Intro of Sarah K Wolf
    • 2:11 to 3:02 - Introduction of Self and Topic
    • 3:03 to 15:20 - Opportunities for Organic (Free) Reach
      • Create a Facebook Event
        • Can be a sponsorship perk to tag a sponsor in Facebook event
        • Ticket integration functionality
        • Great avenue for sharing updates and announcements (including logistical updates)
      • Utilize free community calendars
        • Be aware of submission deadlines (some are reviewed, others post upon submission)
        • Who is your audience? Knowing that will help you find the right avenues for marketing. Think outside the box!
      • Utilize your email list
      • Make it EASY to share your event with partners
        • Provide images and copy to help others share on your behalf
        • Share with: vendors, venue, non-profit beneficiary (if applicable), bands / speakers / talent, sponsors
      • Utilize your media list for your Media Alert
        • Only use for major updates (ticketing announcement / speaker/talent announcement, week of reminder)
        • Don't overdo it!
        • Invite press to come and attend
        • What do you they get? Early entry, sneak peek, free parking, etc.
        • Can your talent be included on-air or in an interview?
      • Ticket Giveaways
      • If you have a non-profit beneficiary, you can usually get a non-profit discount on media spends
      • Be mindful about media sponsorships and keep category exclusivity 
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      • Create an excellent poster, but then have other things to say about the event (i.e. promo videos, sneak peeks, behind the scenes)
      • Choose your event partners that can help extend your reach, don't be afraid to ask them questions
    • 15:21 to 16:22 - Guerrilla Marketing Tactics
      • Temporary art installations to promote bigger art show, event scavenger hunts to win tickets to the event
    • 16:23 to 17:34 - Co-Promote/Cross-Promote with Other Events
      • Find events with similar audiences and help each other promote events (trade space at event or social posts)
    • 17:35 to 18:51 - Use Relevant Hashtags
      • Use a unique hashtag for your event
      • Also use hashtags that are relevant for your industry, used by influencers, etc.
    • 18:52 to 20:27 - Closing Thoughts
      • Prepare for the next one already
      • Get photos!
      • Capture attendee email addresses
      • Recap deck for sponsors and media partners
      • Try to keep attendees engaged until the next event
    • 20:30 to 22:21 - Ashland Closing Remarks

    Like this podcast? Great! A rating and review are so helpful!
    Stay in touch, email us (ashland@cmbatx.com) or connect with us on social (@createmeetbiz on Instagram and Twitter // Creatives Meet Business on Facebook).

    Big thanks to Jamal Knox (audio engineer) and Chris James (composer)!

    If you like what you hear, share the podcast with your friends, and rate and review. To stay in the loop - follow us on Instagram, Twitter, Facebook or subscribe to the newsletter.

    Next up, Attention Management (aka Productivity). Stay tuned!

    Thanks!

    Ashland, Creatives Meet Business

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    Ep. 52 -  "Teams, Tension, Trial and Error; AKA, The Art of Working with Others When the Stakes are High" with Sarah Lo

    Hi there folks!

    Creatives Meet Business is an event and podcast series based out of Austin, Texas for artists, creatives, freelancers, and solopreneurs to learn the ropes of entrepreneurship.

    This episode features Sarah Lo, VP of Professional Services at Red Velvet Events, who joined us in June of 2018 during our roundtable event on Event Planning. She shares ALL about communication: with vendors, team members, and volunteers. If you're looking for insights into communication while the stakes are high, tune in!

    Notes:

    • 0:00 to 2:02 - Ashland Opening Remarks and Intro of Sarah Lo
    • 2:03 to 3:22 - Introduction of Self and Topic
      • Prior Proper Planning Prevents Painfully Poor Production
      • Proactive versus reactive
      • Mantra is to be preventive
    • 3:22 to 6:45 - Timely and Effective Communication
      • What's the best method for communication for THEM (i.e. email, text, social media)
      • Adjust how you communicate so they hear what you need them to hear
      • Set clear expectations - DON'T make assumptions
      • Spell it all out, don't assume anyone knows what you need them to
      • Re-read your communication to make sure it's streamlined and clear (make sure YOU understand what it says)
      • Send ONE (1) email that summarizes all final decisions
      • Reflect back on the event after its conclusion to make notes, suggestions for future improvement (write down the thought as it happens, during the event!)
    • 6:46 to 9:41 - Volunteers
      • Do you need a volunteer or a hired contractor?
      • Free tools to streamline communication - Volunteer Spot, SignUp Genius, Volunteer SignUp
      • Be mindful about communication with volunteers (expectations, full details) during the planning process
        • Monitor communication and see how and if they respond to measure their engagement
      • Be mindful of the number of volunteers needed, you'll likely need more than you think!
      • Think about the benefits that are most valuable to THEM, not to you the organizer
    • 9:42 to 13:04 - Vendors
      • Can you DIY or do you need a hired vendor?
      • When working with a vendor for the first time - be mindful about a great website (they may just have a great web designer). Pick up the phone or meet in person.
      • Don't make assumptions!
      • Find a vendor that matches your level of expectation
      • Try to get multiple proposals, not just a proposal from one vendor
      • Open up the door for a transparent, honest conversation with your vendor (i.e. level of service you expect and can they deliver)
        • Ask for client testimonials and references (not just testimonials on their website)
      • Note - the person you're communicating with during the planning phase is likely not the on-site contact / representative. Aim to set up phone call with on-site contact.
      • Ask for copy of Certificate of Insurance (do they have a back up plan)
    • 13:05 to 14:04 - Addressing Issues On-Site Versus Waiting
      • If there's an issue on-site during an event, ask yourself if you need to address it in that very moment
      • Is it affecting the attendee experience? If so, do it constructively and not in front of attendees
      • If it's just an opinion and can't be changed on the spot, hold it and wait till after the event
    • 14:09 to 19:04 - Ashland Closing Remarks
      • Volunteer Training and Volunteer Handbooks
      • Run of Show
      • Save reminders in your phone to revisit post-event

    Like this podcast? Great! A rating and review are so helpful!
    Stay in touch, email us (ashland@cmbatx.com) or connect with us on social (@createmeetbiz on Instagram and Twitter // Creatives Meet Business on Facebook).

    Big thanks to Jamal Knox (audio engineer) and Chris James (composer)!

    If you like what you hear, share the podcast with your friends, and rate and review. To stay in the loop - follow us on Instagram, Twitter, Facebook or subscribe to the newsletter.

    One more on Event Planning to come, then we shift gears for Attention Management (aka Productivity). Stay tuned!

    Thanks!

    Ashland, Creatives Meet Business

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    Ep. 51 -  "Sponsors, Sponsorships, and Sponsor Decks - Oh My" with Hayley Wakefield

    Hi there folks!

    Creatives Meet Business is an event and podcast series based out of Austin, Texas for artists, creatives, freelancers, and solopreneurs to learn the ropes of entrepreneurship.

    This episode features Hayley (Swindell) Wakefield who hosted us in June of 2018 during our roundtable event on Event Planning. She shares ALL about event sponsorship: how to find sponsors, how to communicate with them, how to create your benefits package and sponsor deck, and top tips on sponsor stewardship. This episode is packed to the brim with insights that'll help anyone who asks for money, even if they're not in events. Without further ado, let's hop in and hear what Hayley has to say!

    Notes:

    • 0:00 to 2:15 - Ashland Opening Remarks and Intro of Hayley Wakefield
    • 2:18 to 8:04 - Hayley introduction of self and topic
    • 8:05 to 10:11 - Event Creation Step 1: Create a Budget
      • What can be an in-kind donation?
      • Once you know asks, figure out how to divide into levels (i.e. 10k, 5k, 1k)
    • 10:12 to 11:22 - Sponsor Decks
      • Sponsorship levels are built into sponsor deck
      • Decks and one-sheets are VERY helpful
      • Hayley prefers customized and catered asks over sponsor decks
      • Sponsor asks should be about how the brand is featured in the event and how you help them (not the other way around)
      • Personalize your outreach, not "dear" "to whom it may concern" with an attached sponsor deck
      • Recommends Canva for sponsor deck build
    • 11:23 to 19:54 - Sponsor Target List and Sponsor Outreach
      • Be organized/track your asks 
        • Google Sheets with a few columns and shared with your team for tracking is very helpful
      • If someone says "no," ask why
      • If you just can't ask for money, recruit a host committee
        • Share graphics and sample copy for host committee to share the word
      • Be mindful of using terms like "partner" or "collaborate" if you're actually asking for a cash sponsorship (be clear about that)
      • Don't need a coffee meeting for everything you're asking for; a phone call can be sufficient to establish fit and then connect more following the call
      • Follow-up is HUGE
        • Share photos as soon as possible
        • Ask how you can support the sponsor in the future
    • 19:59 to 24:42 - Ashland Closing Remarks
      • Shot lists for photographers

    Like this podcast? Great! A rating and review are so helpful!
    Stay in touch, email us (ashland@cmbatx.com) or connect with us on social (@createmeetbiz on Instagram and Twitter // Creatives Meet Business on Facebook).

    Big thanks to Jamal Knox (audio engineer) and Chris James (composer)!

    If you like what you hear, share the podcast with your friends, and rate and review. To stay in the loop - follow us on Instagram, Twitter, Facebook or subscribe to the newsletter.

    More on Event Planning to come, so stay tuned!

    Thanks!

    Ashland, Creatives Meet Business

    Creatives Meet Business
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    Ep. 50 - How to Create Your Own Roadmap for a Successful Event with Richelle Ouellette

    Hi there folks!

    Creatives Meet Business is an event and podcast series based out of Austin, Texas for artists, creatives, freelancers, and solopreneurs to learn the ropes of entrepreneurship.

    This episode features (former) event planner Richelle Ouellette who joined us in June of 2018 during our roundtable event on Event Planning. She shares all about the nuts and bolts of events - everything from logistics to budgets to creative decision making. Without further ado, let's hop in and hear what Richelle has to say!

    Notes:

    • 0:00 to 1:44 - Ashland Opening Remarks and Intro of Richelle Oullette
    • 1:45 to 2:54 - Richelle introduction of self
    • 2:55 to 15:33 - Creating Your Own Roadmap for a Successful Event
      • First step - prioritize goals / objectives of event
        • i.e. Marketing event (needs leads from event registration, social media account names from photo booth).
        • Be specific with goals for event. The more specific, the more likely you are to achieve it
          • Creatives Meet Business event example
        • Goals shape format for event
      • Second step - event budget
        • Corporate client versus non-profit client (relying upon sponsorship)
        • Can make more informed decisions about where to spend money
        • Budgets include - three columns
          • Initial estimate (from past experience)
          • Initial estimates from vendors
          • Actual costs 
      • Third step - Logistics
        • Resources: Google Drive
        • Action items - creating micro actions and working backward to develop timeline and action dates (ordering branded promo item example)
          • Helps with prioritization of tasks
          • Assign tasks 
        • Google search for event timelines, resources are available online
        • Over-communication is key
    • 15:38 to 17:48 - Ashland Closing Remarks

    Like this podcast? Great! A rating and review are so helpful!
    Stay in touch, email us (ashland@cmbatx.com) or connect with us on social (@createmeetbiz on Instagram and Twitter // Creatives Meet Business on Facebook).

    Big thanks to Jamal Knox (audio engineer) and Chris James (composer)!

    If you like what you hear, share the podcast with your friends, and rate and review. To stay in the loop - follow us on Instagram, Twitter, Facebook or subscribe to the newsletter.

    More on Event Planning to come, so stay tuned!

    Thanks!

    Ashland, Creatives Meet Business

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    Hi there folks!

    Creatives Meet Business is an event and podcast series based out of Austin, Texas for artists, creatives, freelancers, and solopreneurs to learn the ropes of entrepreneurship.

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    Notes:

    • 0:00 to 2:50 - Ashland Opening Remarks and Intro of Dani Thomas
    • 2:55 to 3:21 - Dani introduction of self
    • 3:22 to 3:58 - Experience = immersion
    • 3:59 to 9:18 - Purpose of event
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      • Meow Wolf example of experience for the sake of an experience 
      • Events at SXSW are examples of events for the sake of a brand
      • If creating for a brand, everything you're doing needs to speak to the brand
      • If creating for the sake of an experience, but you've brought in sponsors or other invested individuals, you have to bridge the two and create an experience that speaks to those brands inside of the larger experience.
    • 9:19 to 12:09 - Immersion via the five senses
      • Touch as many sensors as possible with events
      • Sight - brand assets, visual art, murals, venue itself, etc
      • Sound - music, bands, DJs, sound effects, silence
      • Touch - swag, giveaways, tactile activities, furniture, textiles
      • Taste - themed food, custom cocktails
      • Smell (underutilized), olfactory is sensitive
    • 12:14 to 13:52 - Ashland Closing Remarks

    Like this podcast? Great! A rating and review are so helpful!
    Stay in touch, email us (ashland@cmbatx.com) or connect with us on social (@createmeetbiz on Instagram and Twitter // Creatives Meet Business on Facebook).

    Big thanks to Jamal Knox (audio engineer) and Chris James (composer)!

    If you like what you hear, share the podcast with your friends, and rate and review. To stay in the loop - follow us on Instagram, Twitter, Facebook or subscribe to the newsletter.

    More on Event Planning to come, so stay tuned!

    Thanks!

    Ashland, Creatives Meet Business

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    Hi there folks!

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    This episode features Kyle Ali sharing about his upcoming workshop "The Art of Negotiation: Know Your Worth" taking place on Saturday, September 21st from 9:30 AM to 11:30 AM at CMBXP.

    Want to join us? Snag your badge at cmbxp.com!

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    Want to join us? Snag your badge at cmbxp.com!

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    Want to join us? Snag your badge at cmbxp.com!

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    Want to join us? Snag your badge at cmbxp.com!

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