If you don’t quite recall, President Kennedy took a huge long-range risk at great cost to send astronauts to the moon—and back. The Apollo program cost billions in 1960’s dollars, and millions of (mostly) man-hours (ref the movie about the computers), and several brave pioneers lost their lives in the testing before the moon-shot mission.

Two great movies can to fill you in and get you in an adventurous mood: Hidden Figures and  Apollo 13.  The success of the moon shots depended on the “computers”—the name for the data analysts who computed with slide rules. And the skilled pilots-the astronauts who flew Apollo 13 back.

I remember that time well, because I grew up, not quite in the shadow of NASA, but within commuting distance of Huntsville, Alabama.  Houston and the Kennedy Space Center in Florida are more famous, but Huntsville was the cradle of the space industry. It is still a center of high-tech innovation and creation in the space industry. It is also home to the US Army Base, the Redstone Arsenal, where the Marshall Space Flight Center is located.  My grandmother even worked at Redstone during WWII, in a kind of Rosie the Riveter manufacturing role while the guys were at the front.

There’s a great museum there, where you can go “weightless”!

That’s probably as close as most of will get to a moon shot.

But within our own businesses, there are plenty of chances to think too hard about too small a target, and not enough about taking a bigger risk. 

Let’s take a look at the risks and costs of either path in more detail.

Take Action!  Set Sail.

There you go…setting goals and targets, but often holding yourself to smaller steps than you’d really like to accomplish. Even once you have your plan established, there are so many ways it can go wrong, both anticipated and unexpected.

The number one reason projects fail is failure to start. I read that in an HBR article decades ago. It really stuck. So, start.

What could go wrong?

• Getting Stuck on Assumptions:  One of the great lessons of my engineering education came early on…before you start a solve a problem, state your assumptions.  Even that simple exercise can lead to breakthroughs. It became one of my strategies in my career—examine the assumptions.  “We’ve always done it that way” does not lead to innovation. It can, and does, lead to limiting approaches and lessened adaptability to new information.
• Overrunning your Budget:  What’s your budget-- of time, energy, money, health? All of those are limited for the citizen business owner. Resources--personnel, infrastructure, opportunity costs-are expended. When you choose one project, another must be rejected, or postponed. If the program fails, or you quit or turn to something else, these sunk costs could sink your business! We do not have a Mint like Kennedy did.
• Missing Opportunities: In the R&D world I lived in then, any researcher worth her salt had more ideas that the team could possibly tackle. That’s also true in the small business world. Target market, pricing, marketing mix--how to choose? There are opportunity costs.
• Missing More Opportunities: Sticking to a short-term focus can neglect long-term sustainability and growth. Someone has to be looking to the future.
• Stagnating: The status quo is rarely stable over the long term. By relying on apparent stability, the risk is staying in the same place, whether it's career, personal growth, or relationships. Your skills may decay, or even worse, you fail to keep up with new ones.
• Limiting Outside Perspectives: By staying in your comfort zone, you limit your exposure to new ideas, cultures, and experiences. This narrow perspective can hinder career and personal growth, and understanding of the world around you.
•  Resisting Change. Many people, including the leader or owner, resist change. Even change agents resist change they didn’t initiate. Conflicts, decreased morale, and lower productivity arise and stubbornly remain. Skepticism is welcome, but cynicism is toxic.
• Damaging our Reputation: If the program fails or doesn't meet expectations, it can damage the reputation of the individuals or organizations involved, affecting trust, credibility, and personal pride.
• Stunting Personal Growth: Over time, the things you didn't do can weigh on you, leading to feelings of regret-- about missed chances, unfulfilled dreams, or relationships not pursued.
• Burnout and Stress: The increased workload and pressure associated with implementing a program of action can lead to burnout and stress, at work and at home.

But what if you don’t rock the boat?

Kennedy warned against the long-range costs and risks of comfortable inaction. Here are a few.

We are still discovering the reality and opportunities of space exploration. You are reading this through technology developed in that exploration. The internet, satellite phones, GPS, precision missile targeting, should you need it—all arose from risks taken and costs incurred decades ago.

The current US political situation reflects this lack of shared experiences, or rather, of over-emphasizing our differences rather than looking for common ground.

And those people! We are such a problem. Fear is a fundamental stopper of initiative. What could go wrong here?

If you’ve ever been through a merger/acquisition, you’ve seen this. Systems (software, processes, relationships) don’t merge easily either.

When you don't challenge yourself, you may start to doubt whether you're capable of achieving your goals. This loss of confidence can make you less resilient when faced with adversity. Isolation is stagnating. The” re-entry” from COVID isolation has been more difficult that many of us expected.

All these personal challenges—resistance, regret, pride, loss of confidence, isolation—make it harder to cope with setbacks and bounce back from failures.

These are fearsome risks. It’s enough to make you cut the throttle and rock along on the comfortable course you’ve set. But that is short-term thinking. Even if you’re working on a new program, you may be aiming too low.

We take risks and incur costs for a reward. Often it’s not the reward we expected. Sometimes it less than that. But sometimes the reward is, as they say, beyond our wildest dreams.

Humans got to earthly orbit. We got to the moon. We flew past Mars, and Saturn. Now Voyager is 15 billion miles from Earth, exploring even farther. And just recently, NASA engineers repaired the 46-year-old computers across that vast distance.

And many businesses and jobs and new ideas have resulted.

What big vision do you have for your business? Are you working on that, even part of the time, while you manage operations and sales and cash flow?

What about adding a new strategy, and shooting for the stars?

Lorette Pruden has helped hundreds of small business owners, sales professionals, entrepreneurs, and community leaders grow their businesses and manage that growth since 2000. She specializes in the Formerly Corporate—so many small business owners who’ve worked with her come from a corporate background that she finally wrote the book on it.

Alongside doing more and/or better at the things that are working, it's crucial to consider different strategies to bolster your income.

Here are four you might consider:

1. Add more options. One of the most effective ways to boost revenue is by expanding your product or service line. Is there a new market segment just waiting for you? What could you offer that would attract new customers and cater to existing ones? Ask your existing customers what else they might be willing to buy.
2. Leverage your online visibility. People look you up, you know. From Google searches to LinkedIn profiles to Instagram, FB, and TikTok presence, prospective customers will look for you online and current customers will follow you. How could you spruce yourself up there?
3. Reward customer loyalty. Encouraging repeat business and customer referrals can be a sustainable source of revenue. Loyalty programs, exclusive discounts, or rewards can keep your current customers coming back and spreading the word about you to others. (Team Nimbus alumni, I’m sweetening the pot for you.)
4. Review your costs. While not directly increasing revenue, optimizing operational costs can effectively boost your bottom line. 4th Quarter is a great time to review expenses, cancel forgotten or unprofitable subscriptions, negotiate with suppliers, and streamline your business processes. Reduce overhead, keep more of your earnings.
   Here at Team Nimbus, we're considering all four. I’ll just mention a couple we're doing now.

First, we offer a private coaching day, focused exclusively on the client’s specific need.

Here are a few topics we’ve covered recently:
Build (or Review) Your Profitable Business Plan
Why Not Quit? Creating a Graceful Exit.
Profitable Client Prospecting Day.
What business challenges do YOU need to focus on?
Book a time this week at CallwithLorette.com.

Second, we are live online with complimentary Common-Sense Chats for Small Businesses. On the 1st and 3rd Wednesdays of the month, we discuss the challenges our attendees are facing, and some very creative approaches come up. Free brilliance!

Attendance is free, but registration is required.
Register at Teamnimbusnj.com/common-sense-chat/

I look forward to our discussions.

The way it is:

In this record-beating summer, the dog days have descended with unanticipated furor. The relentless heat, fires, and floods push down on our spirits and sap our energy. It’s hard not to wonder if the earth itself will roast or drown under the strain.

I’ve had to lean on my own resilience to acknowledge that this is something different, yet I still move ahead.

The sun blazes overhead with intense energy, and we can harness it to power our modern lives.

The air-conditioner labors to keep up with 100+ heat index days, and I am lucky to have one.

Torrential rains alternate with high heat index and stifling humidity, and our drought-baked fields are now green. I decided to shut our farmers market earlier in the day and preserve the produce the producers and the shoppers.

A sense of promise:

Amidst the struggle, there are moments of camaraderie.

I’ve seen the season’s two blockbuster movies in theatres, the one about the A-bomb (too serious for popcorn) and the one about a glamour doll (yes, we wore pink). I went with different sets of friends. Both crowds were much larger than we have seen since pre-pandemic times. And in both, people were talking with strangers.

There's a sense of solidarity in enduring this summer together, and even complaints about the heat blend with news of grandbabies and family gatherings into a sort of communal small talk.

As we yearn for a cool breeze or just a bit of rain, we find solace in the little respites summer offers. We retreat to shaded spots, savoring popsicles. I’m eager to plunge into cool quarry waters in a swimming hole nearby. New lovers find a way to each other, and they will remember this summer as magical, without its worst parts.

What we can make of it:

Though it may not be the most picturesque, romantic summer, it is undeniably a testament to the human spirit. We adapt, we cope, and we find ways to make the most of this searing season.

And there is my business lesson for this post…resilience is built into human nature. We are problem-solvers and artists, we are doers and baby-makers, and brides, and grooms.

We are resilient persistent and creative. There are momentous challenges for us, but we know what to do. This is the moment. In the doggiest of dog days.

So how about we take a look at your results so far, and at what you had hoped to accomplish for 2023?

First, let's acknowledge and celebrate your accomplishments. Have you experienced steady or growing revenue? Have you forged new customer relationships and business partnerships? Take pride in your progress thus far.

Ask yourself also: Do challenging market conditions mean you need to shift gears? Are you sticking to your plan? Or do you need to start, stop or continue an activity?

To help you enhance your results, here are three steps to consider:

1. Enhance customer experience: Prioritize exceptional service and reach out for feedback from your customers. By promptly addressing their needs and improving their overall experience, you'll foster loyalty and generate positive word-of-mouth.

2. Refine your marketing strategies:

From the feedback you got in Step 1, tailor your marketing efforts to resonate with the unique needs and preferences of your ideal clients. Try your new message out with current customers and new prospects you meet.  Once refined, your outreach through digital and social media platforms will attract a better-matched set of potential customers.

3. Join our Business Builder Mastermind team: Surrounding yourself with like-minded individuals in a collaborative environment can significantly impact your business.

Our Mastermind team cultivates a culture of knowledge sharing and collaboration, where you can leverage the collective expertise of talented business owners to grow and manage your business more effectively. Book a call with me at CallwithLorette.com to learn how you can become part of our next Mastermind team.

Humans thrive when they work together, and wither if they rely too much on themselves. If you’re a solo entrepreneur, a partner, or an owner of a business with fewer than 10 employees, being part of a real Mastermind team can alter the course of your business.

As we navigate the business landscape, remember the wisdom of B. Brewster Jennings, Chairman of Mobil Oil from 1944 to 1951: "Man's greatest discovery is teamwork by agreement." Together, we can achieve extraordinary results.

I look forward to discussing your business goals and how our Mastermind team can support your growth. Let's make the rest of this year a remarkable success.

Summer activities provide a fantastic backdrop for engaging with your target audience and creating a memorable impression. Fun and adventure can work wonders on your marketing. Who wants to play?

Last time I touched on “Buddying Up” as a marketing strategy. Who else is looking to make a splash this summer?

Here are a few specifics you can try.

• Local Business Associations--Check out your own. What do they offer? Ours mails a package of members’ promotions to all new residents of our town, each quarter. I’ll be in there, for sure!

• Sponsor Local Events--Your local farmers market or arts council or festival would probably welcome your sponsorship. Our market offers listings in our local newspaper and on our website, weekly newsletters, and certain days to be at the market promoting your business. Everybody’s happy at the farmers’ market, and customers and vendors appreciate your vote of confidence!

• Support Youth Activities--Are the kids playing sports this summer? Or in the school band? Or the dance recital? The teams would love your backing and so would their folks.

• Virtual Co-marketing –Don’t limit yourself geographically. Co-marketing with businesses that share a target market and can work virtually is one of the hottest tactics around. You could organize a “Summer Summit” where the price of admission is an umbrella drink in your Zoom hand. (That’s my good idea for a Friday afternoon.)

Remember, the key to success here lies in infusing your marketing efforts with the spirit of summer. Summer is short--don’t overthink this.

Your goal is to create an emotional connection and establish your business as both profit-minded and community-oriented. Keep it simple and authentic. 

Then you’ll have more people to talk to about your products & services.

I'm excited to see how you embrace these ideas and what you come up with.  If you'd like to brainstorm techniques or discuss strategies further, book a call with me at CallwithLorette.com. 

Let's make this summer a memorable one for your business!

Even if you haven't started your summer marketing yet, don't worry! You still have a solid three months until the official start of Fall--plenty of time.

By taking action now, you can gain a competitive edge. While your competitors might be taking a break, you have the opportunity to be top of mind when they shift their attention to the fourth quarter.

Here's why it's crucial to act promptly:

1️. You'll Stay Ahead

Keep a consistent marketing presence going throughout the summer. Why? It ensures that your business remains at the forefront of your customer's minds. By increasing your visibility, you foster brand recognition and customer loyalty.

2️. You’ll Beat the Competition

Stand out by staying proactive, while other businesses reduce their marketing efforts during the summer. Don't let your competitors steal the spotlight while you take the beach chair. 

3️. You’ll be Prepared for Fall

As summer winds down, people begin to shift their focus toward the final quarter. By starting your marketing initiatives now, you position your business as the go-to option when they're ready to meet their needs in the coming months.

To make the most of this summer in business, try one or more of these strategies:

• Introduce a summer-themed marketing campaign.
• Showcase your summer promotions, discounts, or special events on your social media. 
• Buddy up with local influencers or complementary businesses for summer fun doing business. 

And enjoy yourself! For years, I’ve strategized with my best friend on a day at the beach. We laid out the broad strokes of our business plans for the coming year. You too can create mutually beneficial relationships—ask me about the Starburst model--that help both parties expand their reach, increase their visibility and tap into new customer segments.

Remember, it's never too late to start, or too soon. Take bite-size chunks. Every effort you make now will contribute to your success in the coming months.

Boost your business before fall sneaks up on you. Stay proactive, be creative, and show your customers why your business is the best choice for their needs.

 If you have any questions or need assistance with your marketing strategies, please don't hesitate to reach out. Our team is here to support you and help you achieve your business goals.

1. Capitalize on Summer Opportunities:

If summer is your best season, tap into increased consumer spending, travel, and recreational activities. If your clientele will be back “after school starts”, get ready for them!

🔹 Your #1 Marketing Advantage: Even if your business slows down in the summer,  keep marketing. When your customers get that fall energy surge, you want to be front and center as they start looking around.

You don’t want to be having your own surge and just getting your 4th quarter marketing in gear after Labor Day.

🔹 Maintain your Competitive Edge: If your competition tends to default--to slow down or close during the summer—then you can win the game by just showing up!

By catering to customers' needs during this time, you can build loyalty and position

yourself as a reliable and accessible option.

You can also work behind the scenes to improve your own operations, marketing,

and plans for 4thQ. It’s not too soon.

🔹 Grab that Seasonal Demand: If you're in the hospitality, retail, or service sector, offering summer-specific products or services can provide a significant revenue boost. Reverse the timing if you have a winter-centric business.

2. Tactics for Thriving:

🔹 Use Seasonal Marketing Campaigns: Create targeted marketing campaigns that highlight your unique summer offerings, promotions, or events. Leverage social media platforms, email marketing, and local advertising to effectively reach your target audience and generate buzz.

🔹 Adapt and Innovate: Explore ways to align your existing products or services with summer trends and preferences. Consider introducing seasonal variations, limited-time offers, or collaborating with other businesses to provide comprehensive solutions.

🔹 Be Fun (and Easy) to Do Business With Most: people idealize a “laid-back” summer. Use the summer season as an opportunity to enhance customer experience. How can you make your business more engaging and effortless to do business with? 

Can you improve response times, streamline processes, or offer personalized recommendations to help customers make the most of their summer activities? 

3. Observe your Competitors

🔹 Monitor competitors' summer strategies, product launches, and promotions to gain insights into industry trends. However, avoid getting distracted by their actions. 

🔹 While it's essential to stay informed about competitors' activities, it's equally crucial to remain focused on your own growth.

Keep your head on your business over the summer. You will maintain momentum, build customer loyalty, and avoid the need to restart in the fall. Remember, consistency and adaptability are key to thriving in any season.