Time to load up on the anxiety meds. The weather terrorists on local and cable TV are in "speculation mode" and we know what that means. The world may not come to an end...but you never know.
Have a pad and pen in your survival kit. You have been looking for time to step back from the business and assess what works and what doesn't. There are no excuses for not doing this while Irene blows through.
Even better, come up with a strategy that will make you the very best at what you do. Recently I referred to the extra 10% you deliver above and beyond to set you apart. That is the zone to focus on and improve.
Mother nature has a way of humbling us by forcing us to slow down. We may want to thank her for that if you use your time wisely.
Friday, August 26, 2011
Thursday, August 25, 2011
Indispensable versus follower
Marketing guru Seth Godin's book "Linchpin" is a must read. He defines a linchpin as the person in an organization who can bring it together and make it happen. He equates the word linchpin to being indispensable.
The alternative to the linchpin is the job where someone else tells you what to do. You do what they say to "earn a paycheck and not ruffle any feathers".
After reading the book I continue to wonder about how many linchpins there are in the workforce. Do you see your employees as linchpins? Do your employees have the freedom to make things better without following a manual? Are they encouraged to do so?
During our current recession many of the "follower" jobs have disappeared giving credence to his belief. Godin states that there are few good jobs left where someone else tells you what to do.
If you have a linchpin working for, or with you what do you appreciate most about them?
The alternative to the linchpin is the job where someone else tells you what to do. You do what they say to "earn a paycheck and not ruffle any feathers".
After reading the book I continue to wonder about how many linchpins there are in the workforce. Do you see your employees as linchpins? Do your employees have the freedom to make things better without following a manual? Are they encouraged to do so?
During our current recession many of the "follower" jobs have disappeared giving credence to his belief. Godin states that there are few good jobs left where someone else tells you what to do.
If you have a linchpin working for, or with you what do you appreciate most about them?
Wednesday, August 24, 2011
Attracting blue-chip talent
My wish for your business is to be so successful that you are in constant need of finding blue-chip talent. Sales, marketing, IT, accounting, operations. You may need the gambit.
With 9.1% unemployment there is talent waiting in the wings. Does the high rate of unemployment help or hurt your search efforts.
Employers tell me that some of the available work force is applying for positions far beyond their capabilities, others are aiming low for the sake of having a job. Neither situation sounds desirable for the employer or prospective employee.
What is your formula for attracting quality talent in the current economy? Are you being efficient? Have you had success with executive search firms or traditional recruiters? Do you have filters in place to make sure you are speaking with the right candidates?
The glut of job seekers will exist as long as the economy sputters. If your company continues to grow your hiring strategy will be as important as your sales process and marketing plan.
With 9.1% unemployment there is talent waiting in the wings. Does the high rate of unemployment help or hurt your search efforts.
Employers tell me that some of the available work force is applying for positions far beyond their capabilities, others are aiming low for the sake of having a job. Neither situation sounds desirable for the employer or prospective employee.
What is your formula for attracting quality talent in the current economy? Are you being efficient? Have you had success with executive search firms or traditional recruiters? Do you have filters in place to make sure you are speaking with the right candidates?
The glut of job seekers will exist as long as the economy sputters. If your company continues to grow your hiring strategy will be as important as your sales process and marketing plan.
Tuesday, August 23, 2011
Branding your business
Beauty is in the eye of the beholder, so the saying goes. The same is true of how your clients see your business. Do they see beauty? Let's hope so because it becomes your brand.
Their view of your business began when you made the first connection with them. Did you meet them at the Chamber, send a direct mail piece to their office or did they see a story about you on the news? No matter which way the connection was made an impression on them was made in an instant.
Creating a positive first impression on qualified prospects will build your brand and build sales. The skill is staying on top of all the touch points you have with prospective customers and controlling the message. Consistency is key.
Your goal is to have your clients become advocates. Take control of your brand and watch your business grow.
Their view of your business began when you made the first connection with them. Did you meet them at the Chamber, send a direct mail piece to their office or did they see a story about you on the news? No matter which way the connection was made an impression on them was made in an instant.
Creating a positive first impression on qualified prospects will build your brand and build sales. The skill is staying on top of all the touch points you have with prospective customers and controlling the message. Consistency is key.
Your goal is to have your clients become advocates. Take control of your brand and watch your business grow.
Monday, August 22, 2011
How do you say thank you?
Let's assume you have multiple opportunities today to thank someone. A vendor, an employee, the FedEx delivery person...even a new customer.
There are temptations to keep your head buried in all the work that has to be done. You may have a chance to send a quick email thanking the new customer for their business.
Carve out some time to pull out the good stationary. The hand written thank you note has gone the way of the dinosaur. Check your incoming mail to look for hand written notes. Keep looking.
The electronic thank you note is not unique, warm or authentic. It's easy and takes little thought. Your new customer means you will be in business next week and hopefully beyond. The thank you note your new customer receives in the mail will enhance your brand and tell them that you don't take their business for granted.
There are temptations to keep your head buried in all the work that has to be done. You may have a chance to send a quick email thanking the new customer for their business.
Carve out some time to pull out the good stationary. The hand written thank you note has gone the way of the dinosaur. Check your incoming mail to look for hand written notes. Keep looking.
The electronic thank you note is not unique, warm or authentic. It's easy and takes little thought. Your new customer means you will be in business next week and hopefully beyond. The thank you note your new customer receives in the mail will enhance your brand and tell them that you don't take their business for granted.
Friday, August 19, 2011
Raving fans
Raving fans are the dream of every business.
While dining at one of our favorite restaurants recently my wife and I had just been seated when an appetizer appeared on the table (not asked for) from the pasta chef. The pasta chef happens to be a neighbor who makes sure our experience starts off on the right note. It's always "on the house". When I see him on the street he thanks us for coming to the restaurant.
Our waiter overheard a discussion at our table about dogs. He engaged in the conversation and was soon reaching into his pocket to show us his two dogs that are the loves of his life. He wasn't over the top, he fit right into the flow of the conversation at our table. He's not a waiter, he's an ambassador.
Needless to say, we are raving fans.
It's not that you need to deliver 100% to get raving fans. It's the 10% above and beyond that makes the difference.
What makes up your 10%?
While dining at one of our favorite restaurants recently my wife and I had just been seated when an appetizer appeared on the table (not asked for) from the pasta chef. The pasta chef happens to be a neighbor who makes sure our experience starts off on the right note. It's always "on the house". When I see him on the street he thanks us for coming to the restaurant.
Our waiter overheard a discussion at our table about dogs. He engaged in the conversation and was soon reaching into his pocket to show us his two dogs that are the loves of his life. He wasn't over the top, he fit right into the flow of the conversation at our table. He's not a waiter, he's an ambassador.
Needless to say, we are raving fans.
It's not that you need to deliver 100% to get raving fans. It's the 10% above and beyond that makes the difference.
What makes up your 10%?
Thursday, August 18, 2011
www.whatsyourROI.com
This is a question for all businesses with a website.
Did your site cost $50, $500, $50,000 to build? What does it cost to maintain and update? Measurement of your marketing is critical to success. Determining your return on investment will have a lot to do with your attitude about the expenses of marketing your business.
The step before creating a website is asking yourself why you need one. I have met many business owners who had a site built because someone told them that everyone is doing it. Wrong reason unless you have money to burn.
Website builders need to be outstanding marketers. They need to ask questions to make sure the site they build for you will be able to generate a tangible ROI.
Do you use your website for e-commerce purposes?
Do you gather email addresses in order to communicate special product offerings?
Do you book appointments?
Have you taken the time to measure the ROI of your website? If not there's little doubt that your website "costs too much!"
Did your site cost $50, $500, $50,000 to build? What does it cost to maintain and update? Measurement of your marketing is critical to success. Determining your return on investment will have a lot to do with your attitude about the expenses of marketing your business.
The step before creating a website is asking yourself why you need one. I have met many business owners who had a site built because someone told them that everyone is doing it. Wrong reason unless you have money to burn.
Website builders need to be outstanding marketers. They need to ask questions to make sure the site they build for you will be able to generate a tangible ROI.
Do you use your website for e-commerce purposes?
Do you gather email addresses in order to communicate special product offerings?
Do you book appointments?
Have you taken the time to measure the ROI of your website? If not there's little doubt that your website "costs too much!"
Tuesday, August 16, 2011
The role of Social Media
Regardless of the size of your business Social Media should play a role in showcasing your brand.
Do you have an understanding of how to best utilize blogging, Twitter, Facebook, LinkedIn and the countless options that exist? By no means do you need to use just one or all of them.
Figuring out the Social Media puzzle ties back to your marketing plan. Do you need to sell one widget or a million to be profitable? Would 5 consulting clients pay the bills or would it be 105?
Educating yourself about Social Media should be the step you take after making sure you have clarity with your marketing plan.
If you currently use Social Media and have had success please share your stories.
Do you have an understanding of how to best utilize blogging, Twitter, Facebook, LinkedIn and the countless options that exist? By no means do you need to use just one or all of them.
Figuring out the Social Media puzzle ties back to your marketing plan. Do you need to sell one widget or a million to be profitable? Would 5 consulting clients pay the bills or would it be 105?
Educating yourself about Social Media should be the step you take after making sure you have clarity with your marketing plan.
If you currently use Social Media and have had success please share your stories.
Monday, August 15, 2011
Is charitable giving part of your company's mission?
The answers to this question fascinate me. Are you able to sell goods and services for a profit and find the time to give back to the community?
When you think of McDonalds, you think of the Ronald McDonald House. The National Football League has had an association with the United Way for years.
At what point in the creation and development of a small business do you think about embracing a charitable cause? Is there value in connecting the name of your business with causes that seek a cure for cancer, help veterans, or provide shelter for battered women?
A great debate for the next decade is whether the government should take care of everyone (which it can't do efficiently) or should we aggressively promote charitable giving on an individual basis.
Your thoughts?
When you think of McDonalds, you think of the Ronald McDonald House. The National Football League has had an association with the United Way for years.
At what point in the creation and development of a small business do you think about embracing a charitable cause? Is there value in connecting the name of your business with causes that seek a cure for cancer, help veterans, or provide shelter for battered women?
A great debate for the next decade is whether the government should take care of everyone (which it can't do efficiently) or should we aggressively promote charitable giving on an individual basis.
Your thoughts?
Friday, August 12, 2011
Every year fire 20% of your customers
Say what?
You heard me. If you have 20 customers there are approximately four who need to go away at the end of the year.
The businesses that do the best job of adhering to a marketing plan still manage to take on some customers they can do without. Price hagglers, slow payers, time monopolizers are usually not characteristics of the customers you desire. They may be the nicest people in the world some days. Find a very nice way to give them a list of your competitors and thank them graciously for their business.
Now that you have gotten that out of the way you can set a goal of four new accounts that are in alignment with your marketing strategy. This is a never ending process. After a few cycles you will begin to enjoy the sense you have of elevating the caliber of those you serve.
You heard me. If you have 20 customers there are approximately four who need to go away at the end of the year.
The businesses that do the best job of adhering to a marketing plan still manage to take on some customers they can do without. Price hagglers, slow payers, time monopolizers are usually not characteristics of the customers you desire. They may be the nicest people in the world some days. Find a very nice way to give them a list of your competitors and thank them graciously for their business.
Now that you have gotten that out of the way you can set a goal of four new accounts that are in alignment with your marketing strategy. This is a never ending process. After a few cycles you will begin to enjoy the sense you have of elevating the caliber of those you serve.
Thursday, August 11, 2011
Buyer's remorse
A few years ago when I sold credit card processing I closed a deal with a video store and headed back to my office. On the ride back I received a frantic call from my "newest" customer.
"Sally so and so from Brand X credit card processing called right after you left and said her rate is much lower than yours...please cancel my contract." She blurted this right after I said hello.
Sally was telemarketing from California and had been well trained to blow up any situation with a prospect who had just signed on with someone else (me).
When I had the opportunity to speak with my new customer I asked her a few questions...
Depending on what you sell you may want to deal with potential remorse right on the spot. I could have told my new customer that she would likely hear from competitors on a weekly basis and reinforce the reasons she was working with me.
The sale is the sale when you have signed the paperwork, delivered the product or service and had the invoice paid. Don't celebrate too early.
"Sally so and so from Brand X credit card processing called right after you left and said her rate is much lower than yours...please cancel my contract." She blurted this right after I said hello.
Sally was telemarketing from California and had been well trained to blow up any situation with a prospect who had just signed on with someone else (me).
When I had the opportunity to speak with my new customer I asked her a few questions...
- Who did Sally represent? At first she couldn't recall.
- Where geographically was she calling from? She had a California phone number.
- Will Sally come and see you and review her contract? No, she will email the info to me.
- Do you want to work with someone in your own town versus a voice on the west coast? Absolutely.
Depending on what you sell you may want to deal with potential remorse right on the spot. I could have told my new customer that she would likely hear from competitors on a weekly basis and reinforce the reasons she was working with me.
The sale is the sale when you have signed the paperwork, delivered the product or service and had the invoice paid. Don't celebrate too early.
Wednesday, August 10, 2011
Sell like you don't need the business
This saying has stuck in my head ever since the first time I heard it.
Here's my interpretation: When under pressure to sell we are vulnerable to the pressure as much as the need to make the sale. Pressure can push you to take shortcuts, not listen for key cues that will help you in the process, and say and do things that cause you to appear desperate. Pressure can lead to closing a sale with a prospect that will make your life miserable.
Imagine saying this to a prospect: "I would love to earn your business...but if we can't find mutual benefit to work together it is more important that I move on." Is there any question of who is in control of this process?
It's not easy to "sell" this belief if you have been hired by Acme Financial and have a quota of 30 IRA accounts to open in the next 30 days. The need for a sales process is crucial to having this mindset.
Here's my interpretation: When under pressure to sell we are vulnerable to the pressure as much as the need to make the sale. Pressure can push you to take shortcuts, not listen for key cues that will help you in the process, and say and do things that cause you to appear desperate. Pressure can lead to closing a sale with a prospect that will make your life miserable.
Imagine saying this to a prospect: "I would love to earn your business...but if we can't find mutual benefit to work together it is more important that I move on." Is there any question of who is in control of this process?
It's not easy to "sell" this belief if you have been hired by Acme Financial and have a quota of 30 IRA accounts to open in the next 30 days. The need for a sales process is crucial to having this mindset.
Tuesday, August 9, 2011
May I test drive that Maserati GranTurismo?
Who wouldn't want to take the 2011 model for a spin?
I haven't visited a Maserati dealership lately therefore I am not sure how willing they will be to let me open it up on the highway. They may ask me some pesky questions to try to determine if the price is in my "ballpark".
Why would they want to spoil my fun?
When you meet with a prospect are you able to determine their budget, even if it is a ballpark amount? Your sales process needs to include a strategy to uncover whether there are sufficient funds in the budget, or if you have entered into a "how low can you go" negotiation controlled by the prospect.
Sales is all about emotion. It is exciting when someone expresses interest in your product. Interest is great, being paid fair market value is what will keep you in business.
Value is connected to addressing the customers pain. Once that has happened you will need to begin to outline the fees for services you will offer to eliminate the pain. You have established credibility by asking questions and offering the opt-out right at the beginning. As you have probed for pain and uncovered it, you must tell them what is involved to invest in you. It is easy to skip this step until the end. Don't wait...it could cost you!
I haven't visited a Maserati dealership lately therefore I am not sure how willing they will be to let me open it up on the highway. They may ask me some pesky questions to try to determine if the price is in my "ballpark".
Why would they want to spoil my fun?
When you meet with a prospect are you able to determine their budget, even if it is a ballpark amount? Your sales process needs to include a strategy to uncover whether there are sufficient funds in the budget, or if you have entered into a "how low can you go" negotiation controlled by the prospect.
Sales is all about emotion. It is exciting when someone expresses interest in your product. Interest is great, being paid fair market value is what will keep you in business.
Value is connected to addressing the customers pain. Once that has happened you will need to begin to outline the fees for services you will offer to eliminate the pain. You have established credibility by asking questions and offering the opt-out right at the beginning. As you have probed for pain and uncovered it, you must tell them what is involved to invest in you. It is easy to skip this step until the end. Don't wait...it could cost you!
Monday, August 8, 2011
Why are we here?
We have discussed the importance of selling professionally by asking probing questions and giving both parties the opportunity to opt out if it doesn't feel like it is moving toward a mutually beneficial conclusion.
There are occasions when presenting your services where you haven't gotten the NO but seem to be treading water when speaking with a prospect. They may be distracted or indifferent. You are losing control and not sure what to do. To regain control, ask this:
"Why are we here?" or "Should we still be talking?"
Focus is a critical part of the business development process. We are human and lose focus for a variety of reasons. You re-take control with these questions.Give the prospect the opportunity to restate why they really need your services, or tell you that they don't see the value. Clarity trumps confusion every day.
There are occasions when presenting your services where you haven't gotten the NO but seem to be treading water when speaking with a prospect. They may be distracted or indifferent. You are losing control and not sure what to do. To regain control, ask this:
"Why are we here?" or "Should we still be talking?"
Focus is a critical part of the business development process. We are human and lose focus for a variety of reasons. You re-take control with these questions.Give the prospect the opportunity to restate why they really need your services, or tell you that they don't see the value. Clarity trumps confusion every day.
Friday, August 5, 2011
When selling, never forget the doctor
Have you noticed the no-nonsense approach your doctor takes when you are there for a specific reason?
How are you feeling?
Where does it hurt?
How long have you felt this way?
Do you have other symptoms?
Is the pain constant or random?
Bang, bang, bang. Question, answer and so on. In most cases the diagnoses occurs in minutes. The doctor knows the right questions to ask and is trained to find pain.
Do you conduct your sales process in the same manner? Your prospects don't have aching backs...but something is causing them pain.
There are times when you will not find pain. Move on. Selling ice cubes to Eskimos is less likely than selling them to wanderers in the desert.
How are you feeling?
Where does it hurt?
How long have you felt this way?
Do you have other symptoms?
Is the pain constant or random?
Bang, bang, bang. Question, answer and so on. In most cases the diagnoses occurs in minutes. The doctor knows the right questions to ask and is trained to find pain.
Do you conduct your sales process in the same manner? Your prospects don't have aching backs...but something is causing them pain.
There are times when you will not find pain. Move on. Selling ice cubes to Eskimos is less likely than selling them to wanderers in the desert.
Thursday, August 4, 2011
A subtle agreement
Salespeople really can be pushy, don't you agree? What is the opposite of a pushy salesperson? A professional salesperson.
Here's an example of how the professional salesperson conducts business. A prospect agrees to speak with a salesperson and a meeting is scheduled. In this meeting the salesperson politely asks permission to ask questions. At the same time the prospect is encouraged to ask questions as well. Hmmm, sounds suspicious right out of the gate. Where are the flip charts, PowerPoint presentations and lengthy contracts to sign?
Prior to asking a single question the professional salesperson throws another curve ball. "As we ask each other questions can we agree that if one of us feels we have not uncovered a sufficient reason to work together we can say NO?" Are you kidding? An opt out clause right at the beginning of the process?
This agreement is one of the key components of the Sandler Sales Training model which professional salespeople use as a guide.
Does the sales process in your business start with an agreement like this? If not you are using a system that allows the prospect to control the process. Your time and resources could be wasted as a result.
The contrast between the non-sophisticated salesperson and the professional salesperson couldn't be wider. When you review your sales process look right at the beginning to see if you are building a trusting relationship with your prospect.
Here's an example of how the professional salesperson conducts business. A prospect agrees to speak with a salesperson and a meeting is scheduled. In this meeting the salesperson politely asks permission to ask questions. At the same time the prospect is encouraged to ask questions as well. Hmmm, sounds suspicious right out of the gate. Where are the flip charts, PowerPoint presentations and lengthy contracts to sign?
Prior to asking a single question the professional salesperson throws another curve ball. "As we ask each other questions can we agree that if one of us feels we have not uncovered a sufficient reason to work together we can say NO?" Are you kidding? An opt out clause right at the beginning of the process?
This agreement is one of the key components of the Sandler Sales Training model which professional salespeople use as a guide.
Does the sales process in your business start with an agreement like this? If not you are using a system that allows the prospect to control the process. Your time and resources could be wasted as a result.
The contrast between the non-sophisticated salesperson and the professional salesperson couldn't be wider. When you review your sales process look right at the beginning to see if you are building a trusting relationship with your prospect.
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