BS with Bob Schmidt

E11 Barry Moltz Small Business Hacks 100 Shortcuts to Success


Things you’ll learn in this episode of the BS With Bob Schmidt Podcast.

1- How to get people to respond to an email.

2- What people are really afraid of.

3- Why it is important to “spy” on your competitors.

Find Barry Moltz here:

https://www.linkedin.com/in/barrymoltz/

https://barrymoltz.com

Transcript of BS With Bob Schmidt Podcast “ E11 Barry Moltz Small Business Hacks 100 Shortcuts to Success”

Bob Schmidt: 00:00 Business Talk Show host, entrepreneur, and author of the Book Small Business Hacks, 100 shortcuts to success. Barry Moltz. Joining me on the BS thing with Bob podcast. Barry, thanks for being on with me. So as a, uh, as a talk show host, is it difficult to be in the, uh, in the passenger seat rather than the driver’s seat when it comes to podcasts and et Cetera?
Barry Moltz: 00:19 Oh, I don’t know. I mean, I think it’s the being both. I kind of liked being in the passenger seat because you have less control. You’re not quite sure what’s going to come save me.
Bob Schmidt: 00:29 I prefer to be in the driver’s seat when it comes to interviews though, that’s for sure. How did you come up with the, uh, the title of this book? Small Business hacks?
Barry Moltz: 00:37 Well, I think that everybody is looking for shortcuts for everyone’s looking for work around. Uh, and I think that we all know in business there really are no work around. However, there is a place to start and there’s a lot of things that small business owners, you know, when they get into business, Bob, they just really want to solve a problem for a customer, but then all these other things started to come into play like, oh, how do I negotiate at least or I don’t want to go to one on employment here and with one of my employees and what happens if someone sues me or how do I set up a salary structure for people? Most of us were never trained at that.
Bob Schmidt: 01:14 Right. And so was it hard to come up with only 100 because everything that you mentioned is probably running through half my listener’s mind and the other ones are probably in there as well, you know?
Barry Moltz: 01:25 Well, we had it narrowed down to a hundred and we split about 50 were 50 or 60 where we felt we were experts on it and then we reached out to another 40 people that we thought were experts in those, those areas. And it’s not an exhaustive list and certainly is not exhausted advice on what to do. But you could spend a lot of time going on the Internet looking for advice, at least, you know, in this book, you’re getting advice from people that I’ve been in business, small business together for over 50 years.
Bob Schmidt: 01:52 All right. Very. What’s, what makes you an expert then?
Barry Moltz: 01:54 Well, I’ve had three of my own businesses, uh, and the first business went out of business. The second business I was kicked out of my business and the third one I sold and then when I paid back the bank, the one that half a million dollars I owed them, my wife told me I got her back the same time. So I’ve been through all the things that small business owners have had done. I’ve experienced myself, I’ve been to the success and failures and hopefully you can learn from me.
Bob Schmidt: 02:21 I’m glad that you started off with a failure because I think that a lot of business people, at least younger business people think that failure’s a did the stop. It’s the end of everything. But every single person, Barry, that I’ve ever talked with, ah, especially about business. So that failure is just part of the game.
Barry Moltz: 02:37 Yeah, failure is just a stop, right? And I don’t necessarily see by failure and being good or bad, it just is. I think that when you fail, you learn whatever you can share the dark darkness, you have a pity party, right? And then you move on, you let go. I think too many people get stuck in that failure and they have a really hard time moving on to whatever next.
Bob Schmidt: 03:01 So as those patients through the book and looking at some of the 100 hacks that you’ve got listed in here, I came across a few that basically I hadn’t even been thought of before buying your competitors. I didn’t realize that that was even a thing.
Barry Moltz: 03:15 Well, there’s so many things that you can do now because everything is tracked on the Internet. So one of the simplest things you can do to spy on people is put a google alert out there that just has your competitor’s name it. So you know, when they appear on the web, uh, you get notified that that’s one of the simplest things you can do. You can also look at what kind of advertising do they use it, what kinds of visitors do they get, what type of thing they do on social media, all that data is available if we just go out there and look at the tools and you can learn so much about what they’re doing in either how you could do the same thing or compete or do something totally opposite.
Bob Schmidt: 03:51 Well, how do you find out or how do you read the analytics? Then when you look at the, you know, this is what Google says that they’re doing, how do I turn what they’re doing into a positive for what I can do for my business?
Barry Moltz: 04:01 Well, I think has to learn from what they’re, what they’re doing. Where are they getting up? Perhaps back lanes from WHO’s linking to their website and you can. You’d do the same thing, right? Our people finding them and what kind of keywords are they being successful and getting people to come their site and maybe you can compete for those keywords. So I think there’s a lot to learn. It’s hard to be able to be here to compete in this marketplace when you don’t know what other people are doing,
Bob Schmidt: 04:27 so a lot of it boils down to the doing research and having to do that on a, on a daily basis. Then
Barry Moltz: 04:32 I don’t know about on a daily basis. I think it’s something you should look at it monthly or quarterly but just don’t get, you know, with the Internet, everything is traceable and trackable. Don’t use your gut anymore alone. Go see what the Mexican side.
Bob Schmidt: 04:45 Let’s kind of turn our attention to something that you know, that we can prove metrics on his domain names I own, you know, Bob Schmidt: Dot Com podcast for hire.com Lacrosse Wisconsin.com, blah blah blah. On and on and on. And a couple of those are ones that I wanted early on in the, uh, in the process and I had to wait to get them. Is there a faster way to maybe get pushed toward the top to purchase a domain name like Bob Schmidt:, [inaudible] or you know, Lacrosse Wisconsin or Barry Moltz or whatever.com.
Barry Moltz: 05:15 Well listen, I actually purchased [inaudible] no problem, but for most [inaudible] [inaudible] coms, there’s only five letters. I would pay 200 bucks for that. Somebody else, you definitely, there’s definitely a way to push the switch towards the top if you’re willing to offer some money. One of the things that we laid out in the book on that is that people have to understand all the phases that it domain goes through if it’s already taken and there are ways to get involved or get to the fire line in each one of those stages and sometimes getting in line and sometimes it means offering money for the person who the owner right now.
Bob Schmidt: 05:51 Well, I, I noticed that a lot of times that if you go to a specific website like you, for example, mold [inaudible] when you were trying to find that domain, it probably said this domain is available for sale and it had some ungodly number of $10,000 or whatever on there. Or is that something negotiable when you, when you contact these people,
Barry Moltz: 06:12 as I say, everything is negotiable, right? And uh, I don’t even know what the guy originally wanted for the website. I think it was 2000 or $2,000. We ended up on $200. So I’m not sure what kind of market there is for most [inaudible] it might be a bigger market for Bob Schmidt: [inaudible] because it’s probably a lot more Bob Schmidt:.
Bob Schmidt: 06:30 I said, I’m just kinda wondering about this stuff because I know that people that are listening are like, well gosh, I’d like to, I’d like to be the next owner of a Coca-Cola or a, you know, a brand name that everybody knows and loves.
Barry Moltz: 06:40 Well you just gotta be careful though because there are all sorts of rules about if coca cola.com was really available, there are all sorts of rules about, and not be able to own it because Coca Cola is a brand out there. But I can tell people not to get stuck on the domain name. So for example, one of my clients, urban oasis, it’s a, a spot in, in Chicago, urban oasis.com was already taken. So he’s not urban oasis massage doc. Again, I wouldn’t get so stuck on the perfect name. My belief is it should be a dot-com and it should be easy to spout. Think that’s the most important thing.
Bob Schmidt: 07:16 Absolutely. I always find it difficult when you’re trying to espouse. OK, now Joyce is multi m o l t Z or Z. and you mentioned, you mentioned the [inaudible] though. I mean, so you suggest rather than going.net or.org or dot whatever these days, just go with the strict.com.
Barry Moltz: 07:34 I think dove visit, it’s not bad, you know if you have like a.bid or you know, sometimes it plays into the domain name server example. There’s a screen sharing site called join me and their join.me. And so I think that really, you know, that works. Um, but I still think that [inaudible] it’s still the prevalent name. Again, most important you’d do spell. So for example, when we came out with this new book called a small business hat, we want to get small business tax doc [inaudible], but it would take and they wouldn’t negotiate. So we just got your small Biz op, right? Right. And so it was just, it was just easy. It’s not that, you know, book titles, nothing you’re going to use for a very long period of time. And so the next couple years we’ll use that.
Bob Schmidt: 08:17 Well just like somebody buying like my Chicago, Illinois.com or something like that, just to kind of, just to kind of get it out there. All right, so since we’re talking internet, we’re talking domains and stuff. What about setting up and getting it in an email, but it’s going to be opened and read. I know that that’s hack number 57 in your book.
Barry Moltz: 08:34 Yeah, I think what people don’t realize, I mean maybe they do realize people get hundreds and hundreds of emails every day and if you don’t put the of things correct. So a couple and a half star. First of all, whenever you’re sending email, each should have your name on it. So many times I get emails from sales@business.com or Info [inaudible] and that doesn’t mean anything to me. It’s gotta be someone name. So it looks like it’s more personal. The second thing is the title we email is critical, is really the reason that people open it up and they’re in the book we talked about a whole psychology that goes in to making sure that people open up email. So it’s a very important part of the whole process. Just don’t be lazy, uh, input, um, you know, whatever next step in the subject of the email, it just doesn’t work as well.
Bob Schmidt: 09:24 So what do you suggest people use as a, as a subject that will get more opens than the next step? A subject.
Barry Moltz: 09:33 So it depends on what you’re doing. So for example, let’s say I’m trying to get a customer to respond to your prospect to respond to me that never ever respond. You need to put the action, the action you want them to take in the subject of the emails that I have to go any further or I use a subject says please reply a, b, or c in email. I give them three actions they can pay and they can just easily reply a, b, or c. So that whole thing that’s if I have a prospect that won’t respond to our customer, doesn’t respond. Um, if you’re doing some kind of content marketing or email, newsletter marketing, you need to have something that is provocative or connected to current events and people, unfortunately, Bob opened up negative email titles more than what they do. Positive email titles, right? So instead of saying, you know, uh, the five habits of successful small business owners, better tile is, here are five things that my business card should never do because again, it plays into people’s fear. Unfortunately, those guilt.
Bob Schmidt: 10:38 Are you saying that I look back at the emails that I opened up on a regular basis and they’re all, like you said, here’s what you shouldn’t do as a talk show hosts or some of the people that you don’t want to talk with our a, b, and C. exactly.
Barry Moltz: 10:53 Because it does not appear right. We don’t want more than, more than wanting to do the right thing. We don’t want to do.
Bob Schmidt: 11:00 That. Kind of goes back to your whole childhood, I think. Right? Exactly. So how is doing this and, and putting together this book, how is this different than running a business for you? I mean, or being a talk show hosts. How has it, how has the book writing, I know that you’ve done more books than just this one, but how has the writing different than running the day to day on a business or doing your radio program?
Barry Moltz: 11:21 Well, I think that, you know, run a writing a book is a much more of a solid three. Ensure you have to find quiet time every single day, every single week to really put it together. And I think that’s a very different thing that goes is you know, they’re putting together a radio show where some of them got a book, the guest, you got to figure out what are you’re going to talk to them about, you have the conversation and then someone’s got to follow up. Or if you’re out in the business, usually you’re talking to your customers. That’s a lot more interactive. I think this is a much more. At least when you’re writing it, bob, a more solitary a in deadline.
Bob Schmidt: 11:54 What about getting the word out for it? I know that, uh, I don’t even, honestly, I think, I think I saw somebody review your book on LinkedIn and I’m like, oh, that sounds like something that I’d be interested in talking to a. is it, is it hard to go about marketing your business, your book, your show, your blah, blah, you know, insert name here.
Barry Moltz: 12:14 Yeah, I think it is hard. I think what most people think, and this is the six books I’ve written, is that Justin could, you’re right it then people are gonna read it or they’re going to buy it. Whatever it is, you need to have a whole plan on, to getting the word out. So a one thing that I did differently this time is I used a tool called thunderclap. Thunderclap allows you to do is it gets people to commit a social media post about a certain subject, like your book on a certain date at a certain time, either on Facebook or LinkedIn or, um, uh, or twitter. And so you sent out this whole campaign and trying to get everyone to contribute one social media post. And we were so successful we had one point 3,000,000 tweets and posts and things like that go out in the day that the book was released. So that’s the way to kind of, it’s almost like crowd sourcing. You are social media following,
Bob Schmidt: 13:07 what is that called? Thunderclap?
Barry Moltz: 13:09 Thunderclap, right? It’s called thunder clap and there’s everything from free to fee, but you know, you also want to get people to review your book on Amazon and that just doesn’t happen automatically, right? You have to send out all abuse copies and they looked and we liked the review. Here’s the book, I liked your review on Amazon. It was positive or negatively. That’s, you know, I want you to be honest about it, but here’s the book. And then also after you do that, Bob, you actually have a follow-up and make sure that they coach review, right? So these are all these moving pieces that you have to be very proactive, uh, in order to really actually get it done and get this off of Amazon.
Bob Schmidt: 13:45 Well, it’s like holding hands. It’s like being a, you know, it’s like being a parent. You, hey Johnny, are you sure you did it?
Barry Moltz: 13:55 People are busy. You’re asking people for a favor and you know, and, and you can expect that. So again, just because you write a book doesn’t mean people are going to read it because then people are going to buy it and you spent all that time. You’re going to get the word out about it.
Bob Schmidt: 14:09 Oh, absolutely. All right. Uh, there’s a couple of other ones on here that, uh, in your hacks that I, that I liked, um, how to get your product into a big box retailer. I w what I sell is me, so I’m not going to do that, but people listening might have there the next gadget that’s going to make a million dollars. How do they get that in front of, you know, uh, Mr. Walmart or Target
Barry Moltz: 14:29 a couple of things easier today than it used to be. I mean, you see that, you know, you had to go down to Arkansas and you know, find the buyer for your category and pitch it. And then they never really wanted to just have one of your products. They want a whole family of products because they didn’t want to take up the space and then of course their terms were really arduous. We’re going to pay you on sell through. It’s a little bit easier to stay because you have a lot of sites like Amazon and Walmart and Ali Baba where they really do want your product on their websites and honestly wanting their stores, but the one on their website and they’ll even do fulfillment for you. So there’s a lot of ways that you can actually get your product on the site and get in front of customers, um, that already have some kind of marketplace.
Bob Schmidt: 15:14 Have you done any of that?
Barry Moltz: 15:15 Um, I have, um, a disclosure. I’ve been working closely with Amazon to try and get more small business owners to fulfill their products on the Amazon site. And uh, the people that I’ve interviewed have had incredible results.
Bob Schmidt: 15:30 What’s the difference between somebody that has incredible results while trying to fulfill something on Amazon compared to a. I don’t know. I’ve seen stories about people that go and buy stuff on clearance from, from, from box stores and trying to sell it on. Amazon has one monetizing it a lot better than another person.
Barry Moltz: 15:47 I think, again, you have to have a strategy. You’re just not dumping product, right? If I wanted to dump product, I buy stay or, or, or something like that. This is where you integrate your marketing strategy into utilizing Amazon. So they’ve got a lot of different promotions you can use, uh, in all sorts of ways that you can get the word out about your product and say long-term strategy. This is not just selling stuff. This is about creating relationships with your customer through Amazon. So I think there’s a really a really big difference because again, people don’t want to just buy stuff. They want to buy commodities anymore. Everything’s commodity. They want to have an experience and they want to have a relationship with you. And I think that’s one of the reasons why Amazon successful because of the way they develop their sites. They do give you an experience and they do develop a relationship with you. I mean, Bob, they call me by name when I land on the gap store, my local gap store. I’ve been there 12 times. They have no idea who I am.
Bob Schmidt: 16:45 I guess I look at it, I look at Amazon, like going out to the mall where I, I realized that they’re all being sold by a hundred and 50,000 vendors, but I just, I go to the one place to find them all. When I buy, let’s say I’m buying a microphone and I’m buying a cable and I’m buying a mixing board. I might be buying those all from different places, but I’m thinking about it as just buying them all from just one place. The big, the big store. Amazon,
Barry Moltz: 17:12 I think that the experience can really be good online, uh, for the small business owner that’s trying to sell their product, right? Because Amazon, you obviously see all the reviews. People say time and time again that watching reviews really influences what they buy. Plus you can show videos, you can show customer testimonials, you could show all sorts of things. So you can simulate actually sometimes even better. Bob about what the vine spirits to be is if you actually went into the store. So I think there’s some good advantages now. I think the small business owners need to be in multiple places, right? Uh, they should sell it on their own and they should be in some of these marketplaces. It doesn’t have to be exclusive.
Bob Schmidt: 17:49 What do you do that though,
Barry Moltz: 17:49 when you’re, when you’re, when you’re using different avenues to sell your product. Barry, should you have different price point for an Amazon at whereas you’re selling at a different price at your store or you’re selling it at your mom and pop shop downtown? I think you have to be transparent that the pricing has to be the same because there isn’t really barriers to a. There aren’t really barrier breaking barriers anymore because people can look up. I mean, you volunteering and big box stores now with, hey, we’ll match whatever was selling it online as long as it’s, it’s a bonafide order now. If you’re selling it through distributors, you’re and they’re buying in that you can give them a discount when they go sell to the retail customer. But I think it’s pretty much gotta be all the same because a lot of customers and see right through that.
Bob Schmidt: 18:32 Alright. What about mentors? Is having a mentor a good thing in a, in, in the business world?
Barry Moltz: 18:38 It’s an interesting question you asked Bob and it’s the first time that asked me being interviewed about the book, about that particular hack, small business owners when they’re surveyed and asked them, what is the one thing that’s really made a difference in your business consistently? They say it’s having a mentor. So I think it could be a huge difference. In fact, I wrote this book with one of my mentors, which is revealed a sponsee who used to be the, uh, editor over at Entrepreneur magazine.
Bob Schmidt: 19:04 Interesting. I, I, I’ve been lucky because I’ve got a lot of people that I, that I’ve talked to over the years and a lot of those people like yourself to say, hey, give me a call. We’ll, we’ll talk and we can, you know, we can make things work. And for me that’s a, that’s awesome. And for you to be able to write a book with you or with your mentor, that’s pretty cool. The gold star for you.
Barry Moltz: 19:24 He always says to me, Joey, sesame street, straight my weight.
Bob Schmidt: 19:28 Let’s talk a little bit about that, the, the warped thoughts. Because I think that a lot of people that are business owners have many different thoughts that went through their head at every single moment of the day from, Hey, this is a successful campaign to what the hell did I do and why is my business sucking right now within minutes of each other, you know, honestly, within minutes of each other having those same thoughts.
Barry Moltz: 19:50 I think you’re absolutely right in listening. It truly is lonely at the top in one or more people that can give you an independent perspective, whether you just do it on a friendship basis or you pay them outside perspective because it’s so easy to get sucked into what’s going on daily basis. And it seems like it’s you against the world.
Bob Schmidt: 20:11 You mentioned pay. I don’t think I’ve ever heard of a paid mentor. What, what is that?
Barry Moltz: 20:15 Um, it’s usually several thousand dollars a month, different people, people are afraid, uh, you know, you can hire someone who’s your advisor can also be your mentor, Right. That gives you business advice and the, I, I’m hired by a lot of folks to give them business advice and I act as a mentor and then there are some people where we just do an infrequent and friendly basis. Uh, and you know, there isn’t any money that changes hands, it all depending on really what you’re looking for. I mean, if you want to talk to someone every single day, every single week, that might be a paid relationship where I’m just going to call up even when I haven’t got a problem and she can. She talked me 15 minutes. I think there’s need for both.
Bob Schmidt: 20:55 And like I said, I’ve never heard of that so I’m kind of shocked at the. But I guess as an advisor that’s one thing. As a mentee, I don’t think I’d be calling it a mentor. You know,
Barry Moltz: 21:03 I guess it all depends on what your definition is. I think that advisors help people grow as well. And I think mentors are also advisors, so I think whatever really works for the individual small business owners,
Bob Schmidt: 21:14 one of the steps that I’m having a hard time with in my small business. Is it making the cold call is there, I know that there was a hacking here, but is there a, a, a quick tutorial you can give us on making the cold call?
Barry Moltz: 21:27 Yeah, I think that is, it is easier than ever to not really making a cold call and make a warm call and get connected to the person that you want to know. And this isn’t really what LinkedIn was really built on, is that the [inaudible] ideas of six degrees of separation, right? That someone you know is probably going to know someone that you want to get in touch with. Uh, so the idea was from a LinkedIn standpoint, it’s Kenny, they’re connected through some kind of referral for someone. You know, also most businesses if you’re selling B to b have social media presence is, it’s another way really to get in touch with those folks. So for example, I do a lot of visits, influence work with large corporations trying to get the small businesses. A lot of times those relationships start online where I start to talk to people, let’s say I’m at Amazon, they’re trying to attract small business owners and I may get involved with working with Amazon to actually their social media folks first. So there’s a lot of ways to get to the people that you really want to be able to talk to and you don’t need to make a cold call.
Bob Schmidt: 22:31 Yeah. But what about getting to the gatekeeper because oftentimes you’ll call or you’ll hit him up on Facebook or whatever. And the right person isn’t the person that answers you and they’re not going to give up. They’re not going to give you a Barry’s telephone number because berries too busy to talk to you
Barry Moltz: 22:47 was that I could take time and whoever the gatekeeper is, you have to show them how you’re going to add value, right? It’s just like before. So I don’t think that’s really changed. Um, but at least you’re not picking up the phone and saying, all right, let me call you a lot of these types of things you can also automate. So for example, I can really interact with a lot of content out there and that little of thing as much time just trying to pick up the phone and call somebody. So I think the tools have changed to get the connections make connect to a lot easier.
Bob Schmidt: 23:18 The book is called a small business hacks 100 shortcuts to success. Do you have a favorite shortcut?
Barry Moltz: 23:24 We already mentioned my favorite shortcut, which is really the how to get people to respond when they won’t because I’m continually surprised how someone who’s told me they’re going to do business with me and to call them next, you know, that’s. We never ever get back to me. So I wanted to not necessarily get them to buy from me, but to that thought, because probably what happens is when someone says they’re going to do business with you and then you never hear from them, you hold onto the idea that they’re still going to do business with you. So prevents you from seeking other folks that will actually buy your product. So you want some kind of a completion that. And so I was trying to figure out a way how can I get them to follow response to me because at least to know Stanford Hack and I have to tell you the two hats that I was in the book there, I get between eighty five and 95 percent response rate of people saying, yeah, here’s your answer now. They all don’t do business with me, but at least I can move on,
Bob Schmidt: 24:22 man. I hate. That’s one of the things that I hate the most. Like you said. Yeah, yeah, yeah. I’m interested in that. I’m just not going to call you back. I wonder if it’s the shiny object syndrome.
Barry Moltz: 24:32 I think people are afraid of, um, people are afraid of conflict, afraid to tell other people know, or they’re really unsure of the law [inaudible] sure. It really is. No, no. So for example, a guy called me the other day, he was interested companies interested in sponsoring my podcast after I got done with a phone call. He says, yeah, I’ll call you next week. We’ll get started. I knew he really didn’t need that right now. It’s my challenge to see if I can get my challenge to the answer. The problem is a lot of small business owners don’t want to hear no bob, cause they want to hold onto the idea that maybe this person will do business with and they will someday, but not now.
Bob Schmidt: 25:11 No. Do you find that that is different in different parts of the country? Because I mean, you being in the Midwest, I’m living in Wisconsin, I’m from Minnesota. There’s that quote that Minnesota Nice or that upper Midwest nice that you hear from a lot of people and I’m assuming that you do business all over the country, especially out in Seattle since you’ve got a, you’ve got Amazon as a client. Um, are, are we seeing more regional knows are not saying those that are doing the rest of the country.
Barry Moltz: 25:37 I really don’t see it. I really don’t see a different part of the country. I really don’t know me. It’s all the same and I could never really figure out which those people are going to Dubai I constantly take me by surprise is that I wanted to rent a blog called bearing bolts, returning your phone call because I just want people to email me or call me a little bit and tell me they hate my guts and never want to hear from me again because I think that’s better than not hearing anything.
Bob Schmidt: 26:05 I heard that from an ad agency guy the other day. I interviewed him about a book that he had done and he had said that same thing. He said that a lot of times people are, don’t hear no. And that’s why you keep getting the pitch. If you just say, Barry know, I don’t want to do anything on this one, uh, maybe next time that at least I kind of puts you to bed and puts you to rise. You don’t have to worry about it or think about it anymore.
Barry Moltz: 26:26 Turn Bob. I’m really good. You know, as you know, people always pitched me, you know, to be on and to get on the show or whatever it is and I’m already really good. No things just really actually happens. A shortcut, uh, in my, uh, in my computer. I just have to dial the, I just have to put an oh, it says no thanks. And that’s it. And people said, hey, I really appreciate you giving me a response.
Bob Schmidt: 26:51 Was it open that email up, that one? That was the response.
Barry Moltz: 26:54 Um, I mean, after they get back to me again.
Bob Schmidt: 26:57 Yeah. So if you said, no, I’m not interested in being in your podcast a, do this, do you get back to them after they say thanks for getting back to me or do you just look that goes on there, but still. Yeah, no kidding. You’re welcome. You’re welcome. What’s the biggest game changer in today’s, uh, world of business, Barry?
Barry Moltz: 27:18 I think one of the biggest game changers is really how technology can really provide outstanding customer experience for the small business owner that you don’t have to invest a lot in many of these tools. You can make yourself seem like a large business and you actually can have a great one on one relationship with your customer. I mean, it used to be that you hadn’t been all sorts of money, all sorts of infrastructure. Now with everything being in the cloud, it doesn’t take a lot to have a real personal experience with customers and that’s what they want. They don’t want to buy a product. They wouldn’t have an experience with you and they want a relationship with you and that’s really easy. If we were just utilizing the tools,
Bob Schmidt: 27:55 well actually you know, getting that customer acquisition cost is pretty high these days, especially when you’re dealing with people across the country, across the world. How do you get more money from that person? I know that’s one of your hats. Hag number 93, how to make more money from an existing customer. Is it possible for every line of work, every line of business?
Barry Moltz: 28:15 I think it is. You got to figure out how they buy more stuff from you or for a longer period of time or they were for additional people to you so that contact becomes more valuable, but see, here’s the problem. We spend so much time bringing customers into the front door. We don’t really see the customers were already tagged, so they gave out the back door and I think that’s what you really have to look at is what is the churn of your customers? What are you really doing to keep customers, to expand them and then to give you referrals. We’re so caught up in the, in the height, in the, in the chase to get new new customers that we forget about the ones that we have.
Bob Schmidt: 28:52 I think that a lot of businesses, even box stores, forget about that stuff these days, which is unfortunate. I wanna I wanna turn, turn, turn a question on you. Hack number 61 says how to create a blog for your business, but I want to ask you the question, why is it important for business?
Barry Moltz: 29:07 Well, I think that is in corn because everybody wants to be seen as a market, as an expert in their field. You know, I always say that we actually can sell anything to anybody to be there when people are ready to buy and the only way you can be there when people are ready to buy is to constantly send out marketing message every week to say, this is how I help people like you. Not necessarily selling them stuff but just talk about things that they may be in pain over. So when they have that pain, they’ll think of you. That is really why it’s forum to have a, to post that content on your site. It also helps with organic search, so when people are looking for certain terms, your website will come up. It’ll actually help on the Google and Bing search rankings.
Bob Schmidt: 29:53 I mean I look at, I look at Facebook and people saying, hey, hey, hey, look at me, look at me, look at me and look on LinkedIn. And it’s like, hey, hey, hey, look at me and look at me. Twitter, same thing. And pretty soon it’s like, ah, I’m going to just unfollow this person because all he’s doing is, hey, hey, hey, look at me, look at me.
Barry Moltz: 30:10 Well, depends on what you, I don’t believe that by saying that, how I can help you. And it says, Hey, look at me. So for example, yesterday I posted an article on his private chat inside a company really private and know I had a situation with a customer where we’re using this tool. And a couple of people got quit because they were doing derogatory things over the private chat in the company. And they said, well, we thought we thought this was private between two colleagues. And I’m like, why would you think it’s private? You’re on companies, uh, application on a company, could you try and company time. So I just gave people advice that really things are not as private as you think. And so I posted that. I don’t think that says that, hey, look at me. I’m trying to give my perspective on something, on a problem that you might have. Um, I think there’s a real, there’s a, there’s a big difference, or I’ll post something that says, this is how I think the trump tax plan is going to affect small business owners and what you should watch out for these kinds of changes again, hopefully will be helpful rather than trying to sell them something
Bob Schmidt: 31:13 so that way your top of mind and top of mind awareness. The book is called small business hacks. 100 shortcuts to success very much as my podcast guest. Very, how do we find this book in the other books that you’ve written?
Barry Moltz: 31:24 Well, you can go and do a w, w, w dot your y, o u r is a. If you want more information about the book and you can go to my website, I’ve written five other books, www.bolts.com. D A R, r y, m o L T Z.com. Or you can go to Amazon or Barnes and Nobles or they say wherever books are sold,
Bob Schmidt: 31:45 what are the other five books wrote?
Barry Moltz: 31:47 The first book I wrote is called you need to be a little crazy. The truth about starting and growing your own business, it costs about what is it really like to start and run your own business. It was written in the early two thousands, uh, in response to this, the Internet bubble where people thought you could start a business just by where you could have just by writing something down on a Napkin. The next book I wrote was called bounce, which is really a response to the [inaudible] recession. Have he really bounced back and forward and then I wrote a book on customer service and customer experience, how that truly the new marketing that I wrote, a book called small town rules and I won’t talk about what that was about. And I wrote a book about how to get your business on stuff, which is really my, my, um, my, my marching orders to people is how can I get them unstuck and move forward.
What 32:38 How do we reach you?
Barry Moltz: 32:39 Uh, you go to my web site during barrymoltz.com or my email is just my first name, my last name, Barry@Moltz.com Thanks so much for taking your time.