You're a small business owner. Things are going well, but you're ready to take the next step in growing your business. Easier said than done, right? Rest assured, there are active, tangible measures any business owner can take to diversify and strengthen their revenue streams, regardless of industry or scale.
I started Brooklyn Outdoor, Detroit's only national outdoor advertising company, in 2013 and grew initial revenue from $600K to $6M last year. It hasn't always been easy and there's still much more work to be done, but let's take a look at some of the ways you too can grow your business.
Assessing Your Business
From the start, it's important to continuously review and assess your strengths and weaknesses as a company. To do so, you'll want to keep a strong pulse on your profit and loss statements by quarter to see where costs can be tightened as your business and industry changes. Take the time at year-end to evaluate where you have financial gaps, and where your business needs to grow to serve your clients better.
Additionally, staying in tune with your team's morale will allow you to address in-office issues quickly, which will help foster an environment that creates happier, more empowered employees who have the confidence to produce better results. This can be difficult when you are “in the thick of it" as the CEO or founder, but well worth it in your bottom line and workplace culture. You'll also want to identify what brings you the highest percentage of business, whether that be a specific client-type or sector. Zeroing in on the right kind of client for your business helps you build a stronger, more targeted business plan, as opposed to going after everyone. You may be forced to walk away from some potential clients, but the motto “quality over quantity" will be your best friend in this case.
Inbound Marketing How-To's
According to Marketo, a marketing software developer, inbound marketing is a strategy that utilizes many forms of pull marketing – content marketing, blogs, events, SEO, social media and more – to create brand awareness and attract new business. Using these tools correctly can be critical to growing your business. Just as brands try to find customers, we live in an age where brands are “being found" by customers, making inbound marketing an important aspect in developing that relationship.
When you have owned channels like blogs and social media, or events that are tailored to your business, your reputation grows authentically and naturally as more people encounter you and your brand. This system of touchpoints helps your business connect with clients and prospective customers on an interpersonal level, and goes beyond the typical business transaction mindset, allowing you to establish a more valuable and memorable connection with people. As they continue to interact with your business and become more familiar what motivates you and what your brand represents, they may just be your next partner or loyal customer.
How We Did It: To illustrate who we are as a company, we've established an office space that emphasizes our focus on authenticity and Detroit roots. It maintains an industrial-chic style and features many unique art pieces from local artists, so when it is time for a potential client to visit, they understand our brand and perspective. As we have had more people from our community in our workspace, they have often inquired about if it was available for parties or meetings. That got us thinking, and we realized our office had untapped potential as a rentable venue. We have since begun renting the space to corporate and individual customers, helping us generate additional revenue and opportunities to connect with more potential clients. This was a great lesson in identifying what's unique about our business and how we can use it to boost our bottom line.
Your social presence is also helpful in providing a portfolio of information readily available for that right kind of client to find and get a glimpse of the real you. Social tools like boosting posts will also help reach your target audience quicker for a few dollars at a time. Also, using search engine optimization (SEO) keywords in your social posts are extremely helpful in boosting brand awareness, ranking higher in web searches, and leveraging your locality to attract customers in your area. Recognizing and understanding needs and niches in your market that have not been filled can be helpful when trying to broaden your business plan as well. This could mean creating an extension of your business that might not directly relate to your current industry, but adds another layer to your services, expand your network and expose you to additional resources that further your entrepreneurial goals.
How We Did It: Relying on our team's strengths and expertise, we have developed various business units that fit under the broader Brooklyn Outdoor umbrella: Experiential, Hand-Painted, Events, and more. Brooklyn Events – our most successful new division - started with our in-depth knowledge of Detroit's food, art, and entertainment scenes, and our Detroit-themed lifestyle blog – J'adore Detroit – focused on highlighting our great city and its revitalization. The blog has helped us boost our online presence, and because of its locally-sourced content, we have become more ingrained in our community. This has helped introduce us to the local businesses that are highlighted on the blog – who potentially need event space through our Events division – and locals who enjoy our content.
We also established Brooklyn Experiential, which stemmed from working on an outdoor project with the use of outdoor advertising on one of our buildings and led to a partnership where we now create large-scale experiential activations for our clients in Detroit and beyond. It's all about rolling with the punches and diversifying as you grow.
Also, as supporters of our local arts community, we know many artists throughout the city. This has helped us develop a division strictly revolving around art and murals, called Brooklyn Hand-Painted. It allows our clients to collaborate with local artists to tell their story in artful, unique ways in mural form.
To reiterate, in each example above, we leverage connections into more connections, which leads to more opportunity for us and our partners.
Keeping up with trends is essential in evolving your business as well. You should keep track of all the asks that clients make, even ones that you can't fulfill. This allows you to evaluate how you could accomplish these tasks in the future or look to see if other clients might benefit from similar types of services. This presents an opportunity to tap your network to see how they approach similar requests and compare how you can improve.
It is also important to track year-over-year data on businesses that relate to or impact your industry to see how things are changing in those sectors and have a better idea of how they might impact your business. This will allow you to make more informed decisions in the future when you start to see similar changes or effects. Tracking these types of industry trends are vital.
Many strategies can help strengthen and diversify your business. Just remember to stay true to who you are while remaining flexible to the changes in clients and industry.
As you continue trying to find new customers, remember that there are people out there trying to find you. Make it easier for them to connect.
For decades, women have been unknowingly suffering from PSD and intergenerational trauma, but now Dr. Valerie Rein wants women to reclaim their power through mind, body and healing tools.
As women, no matter how many accomplishments we have or how successful we look on the outside, we all occasionally hear that nagging internal voice telling us to do more. We criticize ourselves more than anyone else and then throw ourselves into the never-ending cycle of self-care, all in effort to save ourselves from crashing into this invisible internal wall. According to psychologist, entrepreneur and author, Dr. Valerie Rein, these feelings are not your fault and there is nothing wrong with you— but chances are you definitely suffering from Patriarchy Stress Disorder.
Patriarchy Stress Disorder (PSD) is defined as the collective inherited trauma of oppression that forms an invisible inner barrier to women's happiness and fulfillment. The term was coined by Rein who discovered a missing link between trauma and the effects that patriarchal power structures have had on certain groups of people all throughout history up until the present day. Her life experience, in addition to research, have led Rein to develop a deeper understanding of the ways in which men and women are experiencing symptoms of trauma and stress that have been genetically passed down from previously oppressed generations.
What makes the discovery of this disorder significant is that it provides women with an answer to the stresses and trauma we feel but cannot explain or overcome. After being admitted to the ER with stroke-like symptoms one afternoon, when Rein noticed the left side of her body and face going numb, she was baffled to learn from her doctors that the results of her tests revealed that her stroke-like symptoms were caused by stress. Rein was then left to figure out what exactly she did for her clients in order for them to be able to step into the fullness of themselves that she was unable to do for herself. "What started seeping through the tears was the realization that I checked all the boxes that society told me I needed to feel happy and fulfilled, but I didn't feel happy or fulfilled and I didn't feel unhappy either. I didn't feel much of anything at all, not even stress," she stated.
Photo Courtesy of Dr. Valerie Rein
This raised the question for Rein as to what sort of hidden traumas women are suppressing without having any awareness of its presence. In her evaluation of her healing methodology, Rein realized that she was using mind, body and trauma healing tools with her clients because, while they had never experienced a traumatic event, they were showing the tell-tale symptoms of trauma which are described as a disconnect from parts of ourselves, body and emotions. In addition to her personal evaluation, research at the time had revealed that traumatic experiences are, in fact, passed down genetically throughout generations. This was Rein's lightbulb moment. The answer to a very real problem that she, and all women, have been experiencing is intergenerational trauma as a result of oppression formed under the patriarchy.
Although Rein's discovery would undoubtably change the way women experience and understand stress, it was crucial that she first broaden the definition of trauma not with the intention of catering to PSD, but to better identify the ways in which trauma presents itself in the current generation. When studying psychology from the books and diagnostic manuals written exclusively by white men, trauma was narrowly defined as a life-threatening experience. By that definition, not many people fit the bill despite showing trauma-like symptoms such as disconnections from parts of their body, emotions and self-expression. However, as the field of psychology has expanded, more voices have been joining the conversations and expanding the definition of trauma based on their lived experience. "I have broadened the definition to say that any experience that makes us feel unsafe psychically or emotionally can be traumatic," stated Rein. By redefining trauma, people across the gender spectrum are able to find validation in their experiences and begin their journey to healing these traumas not just for ourselves, but for future generations.
While PSD is not experienced by one particular gender, as women who have been one of the most historically disadvantaged and oppressed groups, we have inherited survival instructions that express themselves differently for different women. For some women, this means their nervous systems freeze when faced with something that has been historically dangerous for women such as stepping into their power, speaking out, being visible or making a lot of money. Then there are women who go into fight or flight mode. Although they are able to stand in the spotlight, they pay a high price for it when their nervous system begins to work in a constant state of hyper vigilance in order to keep them safe. These women often find themselves having trouble with anxiety, intimacy, sleeping or relaxing without a glass of wine or a pill. Because of this, adrenaline fatigue has become an epidemic among high achieving women that is resulting in heightened levels of stress and anxiety.
"For the first time, it makes sense that we are not broken or making this up, and we have gained this understanding by looking through the lens of a shared trauma. All of these things have been either forbidden or impossible for women. A woman's power has always been a punishable offense throughout history," stated Rein.
Although the idea of having a disorder may be scary to some and even potentially contribute to a victim mentality, Rein wants people to be empowered by PSD and to see it as a diagnosis meant to validate your experience by giving it a name, making it real and giving you a means to heal yourself. "There are still experiences in our lives that are triggering PSD and the more layers we heal, the more power we claim, the more resilience we have and more ability we have in staying plugged into our power and happiness. These triggers affect us less and less the more we heal," emphasized Rein. While the task of breaking intergenerational transmission of trauma seems intimidating, the author has flipped the negative approach to the healing journey from a game of survival to the game of how good can it get.
In her new book, Patriarchy Stress Disorder: The Invisible Barrier to Women's Happiness and Fulfillment, Rein details an easy system for healing that includes the necessary tools she has sourced over 20 years on her healing exploration with the pioneers of mind, body and trauma resolution. Her 5-step system serves to help "Jailbreakers" escape the inner prison of PSD and other hidden trauma through the process of Waking Up in Prison, Meeting the Prison Guards, Turning the Prison Guards into Body Guards, Digging the Tunnel to Freedom and Savoring Freedom. Readers can also find free tools on Rein's website to help aid in their healing journey and exploration.
"I think of the book coming out as the birth of a movement. Healing is not women against men– it's women, men and people across the gender spectrum, coming together in a shared understanding that we all have trauma and we can all heal."