Archive for July, 2008

Public Relations: “There’s a camera crew in my lobby…quick: hit pause and rewind.”

Wednesday, July 30th, 2008

It’s happened many times before …and it can easily happen to you too. You get the call that KWHOever is in the lobby with a camera crew wanting to know your company’s response to [insert crisis name]. You’ve got 60 seconds to figure out what to do before the camera goes live…don’t you just wish you’d DVR’d the situation so you can press rewind to grab more time to get ready before you go live?

One of the best responses to a crisis is doing something before it happens. You think it won’t or can’t happen? Think again. If you can imagine it, then it probably will. So what do you do? Get ready before you have to GET READY!!! Here’s how:

Prep the Scouts: Your employees know what’s going on in the trenches. Train them to tell you if they’ve sniffed out a potential crisis or issue of concern before it happens.

Don’t stop talking: Keep regular contact with your company leaders to let them know if there’s a possibility that something bad might happen. That way, you can start to put a plan into action to prepare.

Train the Infantry: Keep your employees informed about what’s going on with the company…good and bad. Not only will you inspire loyalty and trust, but your employees become a great, first line of defense should the media come calling.

Understand, reporters are a creative bunch and will do anything to get the story. I’ve had them stand in a parking lot to catch employees walking to their cars. Not a big deal…IF they know what to say. That’s why keeping them informed is so important.

Cozy up to them before its cold: Keep up relationships with reporters who follow your industry. Strong relationships with the media during a non-crisis time pay off when the heat is on.

Okay…so back to our story. What the heck do you do once the story’s on a roll? What actions can you take after the tape starts rolling? Here’s some things to think about:

It’s a wrap…or is it? Keep in touch with the reporter even if it seems like it’s over. Just because the story is a “wrap,” doesn’t mean it’s a wrap. Monitor how its going and don’t be afraid to call the reporter on the carpet if its not accurate.

Don’t speculate

It is just as important to provide accurate information as it is to act quickly. When researching questions for public release, it is imperative to stick with known facts and don’t feel pressured. The pressure to answer is a dangerous practice and gives rise to speculation. It is true that reporters will be pressing for answers; however, what’s more important is providing factual information.

Play Nice

During a crisis, messaging and communications to any audience should be compassionate to those that may have been affected.

A crisis is a very chaotic time and will create a period of confusion and second-guessing. Remember, everyone is dealing with a difficult time and intangible elements begin to pop up. Just remember, this is a time to show empathy as well as leadership.

Take control

Depending on the situation, the media may try to make a bigger story out of something that really isn’t. Make sure they have the facts right before making the issue to be something bigger than it really is.

If you have to answer

What’s the best thing to do? Take a deep breath and slow things down. Remember the story will be told whether you want it to or not…if you don’t talk, then the reporter will find someone who will. Find out exactly what they’re asking for and let them know you’ll track down answers. This will slow them down and give you time to react appropriately.

If you handle it with honesty and poise, the reporter, and the public, will remember that when times got tough, you handled it like a champ. Then and only then it might be time to set your DVR.

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What to Look for in a PR Agency

Tuesday, July 29th, 2008

Choosing among service firms can be confusing – whether accountants, law firms, public relations agencies or other consultants. Typically organizations in each category describe their services in ways unintentionally similar to their competition, relying on jargon or industry catch phrases (that only their competitors understand) to differentiate themselves. When evaluating among PR agencies, creativity can be an important criteria, but it is not the only key to a successful relationship. Consider these questions in your agency selection process as the right answers can increase the likehihood of your communications strategy improving your brand and affecting your organization’s performance.

The following questions were designed to help determine which agency is more likely to succeed on your business.

  1. Who really will be working on your project? Senior folks at the pitch – or junior staffers learning on your dime? And what percentage of their time will be devoted to you…or to another, perhaps larger account?
  2. Is their experience current, relevant – or is it outdated?
  3. What is the chemistry like on the team? Between you and the agency? Can you envision comfortably working with the team you’ve been assigned?
  4. Does the agency look at you as a partner or as a prospect? In other words, are its people interested in what services are most important to achieving your goals – or in the agency’s bottom-line by trying to sell you on services you don’t need?
  5. Do they listen well to your objectives and directions? Can they document how they’ve gained measurable success for other businesses like yours?
  6. Are they responsive and accessible – or don’t get back to you (or the media) because they’re always in agency meetings (or worse, busy working for other clients)? Are you a priority for them?
  7. Are they passionate about your business? (Or only for those with big budgets?) What is their client philosophy?
  8. Are they passionate about PR? How well do they know the media? When did the senior members last talk to the media?
  9. Are their plans dusted-off from another client – or developed specifically for your business, objectives, etc?
  10. Do they suggest ways to be more effective – without increasing the budget? Do you see them adding value to what you already have on your team?
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How To Schedule Your Marketing

Tuesday, July 29th, 2008

There are different ways that you can schedule your marketing to ensure that you are doing it consistently and as easily as possible. What appeals to you depends mainly on the level of detail and structure you like to have. One person’s organized is another’s straight-jacket!

Some people like to keep their schedule more general by designating a theme of activities for each day. For example:

Monday is communication day - catch up on emails; return phone calls; meet with staff; post on Facebook, online forums and other people’s blogs

Tuesday is client day - meet with clients (in-person or via phone); do client paperwork; answer client questions

Wednesday is writing day - write content for ezine, blog, teleseminar, email marketing, sales page and website content

Thursday is creative day - research new opportunities for affiliates, partners, joint ventures; think of ideas for new products and services; draft outline for workshop you want to give

Friday is administration day - fine-tune schedule and to-do list for next week; file and clean up desk and office space; back up computer; read magazines and ezines

Other people like to divide their day up into different segments. For instance, they may write in the mornings from 9 - 11am, do email until noon, do some reading and brainstorming until 1:30pm, and then spend the rest of the afternoon on client specific activities.

Another way to set up your schedule is to build it around your reoccurring marketing activities and then fill in the spaces with other stuff. For example, every Tuesday morning may be for writing your weekly ezine and 2 new articles for submission. Thursday afternoon is slotted for a weekly teleseminar, Monday morning is devoted to email and every Friday morning you write 3 new blog postings. Client appointments are fit in wherever it’s convenient for both parties.

Still others may determine their schedule by the type of marketing tactic:

Monday - list building activities (create new autoresponder message; publicize new teleseminar you’re giving; touch base with your affiliates; submit articles)

Tuesday - website design and development (add new content; write a sales page; check analytics of the site)

Wednesday - sales (offer a promotion; send out email about a new product; summer sale)

Thursday - clients (appointments with clients; write weekly exercise and send to mastermind group; create a survey to send out to new clients)

Friday - free day (whatever comes up and whatever you want to do!)

Whichever way that you create and run your marketing schedule, remember to do it consistently! Your schedule is a living, breathing part of your marketing strategies so pay attention to it and make changes and additions as necessary.

If you have a marketing schedule you’re already miles ahead of many small business owners, and you’re well on your way to growing a successful business!

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3 Things You May Not Be Doing to Grow Your Business

Monday, July 28th, 2008

When entrepreneurs think about growing their business, often the first thing they think of is advertising - 30- and 60- second commercials, half- or full-page ads, bulletins or posters, banners or buttons - the list goes on and on (Full disclosure: I worked in advertising for 13 years before launching my coaching career).

I often wonder why entrepreneurs make that leap directly to advertising. They don’t seem to like it much (”I have to work on my advertising”) and most aren’t sure that it’s working. They sense it to be a necessary evil of owning a business, and the fear of what may happen if they don’t advertise is motivation enough to keep the ball rolling.

In the communications world, “advertising” falls under a much larger category of “marketing.” There are a variety of marketing strategies out there. I am not here to say advertising doesn’t work or that you should scrap all advertising plans. However, you can compliment your advertising with effective and inexpensive marketing that will grow your customer or client base, create loyalty and grow your business.

  1. Networking. With a background in advertising, I can’t tell you how many “networking” events I have attended! Media parties, Chamber of Commerce socials - they all were after hours, included “adult beverages” and were a huge waste of time. Let’s be honest, most people who attend general networking events don’t gain new clients or cultivate strategic partnerships. They do, however, gain a slight headache the next morning from tap beer or cheap wine. To be a strategic networker, I suggest you join a group that is serious about networking (e.g. BNI. Full disclosure - I am a member). Fellow members are serious about working together to grow the businesses of everybody in the group. It also requires you, as a member, to become crystal clear on what business you’re in - the service you provide, your ideal client. When you are forced to abandon the “Jack of all trades” strategy in your business, your ideal clients will find you, and your business will grow.
  2. Incentives. Providing incentives to those who send referrals your way can be a great way to grow your business. I find this especially effective with my salesperson friends, and with current clients. They love a challenge, and they are connected to many people with whom I would likely never cross paths. What can you provide them with that will motivate them to tell others about you? A product or service from a non-competing business? How about a free product or service from your arsenal (or a new product or service that you’re just launching)? I’m offering free travel vouchers for places like Hawaii, Mexico and the Caribbean. So far, so good. :)
  3. Affiliate Programs.I have learned of affiliate programs in the past few years. The idea? You give commission to somebody who sells your product. Similar to incentives, affiliates are incentivized with cold, hard cash. And, it’s done online. The affiliate is provided with URL that directs the user to the sales page on your website for your product/service. The link tracks where the lead came from, and the affiliate receives a commission for “selling” the product or service on your behalf. Websites like 1ShoppingCart.com help you to set up your own affiliate program, manage payments, and so on. If you have a product or service you can sell online and turn into an affiliate program, it’s a great way to grow your contacts (and earn passive income to boot).

What other ways are you growing your business?

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How to create sales with a Value Proposition

Friday, July 25th, 2008

I work with many business owners and selling professionals. When I ask them what they do they immediately rush into their title. Each states, “I am the President of a Bank”, “I am a Consultant”, “and I am a Professional Speaker”. If I were a client and heard this I immediately state, “So What”? Professionals today refrain from their titles and occupations in the service business and speak with the reply to “So What”? The method for doing so is known as a Value Proposition.

What is a Value Proposition? Simply put, a value proposition is a pithy statement that promotes the business to clients using outcome and results. This brief statement denotes the benefit(s) that a client receives from working with you. It is outcome based and focuses all attention on client outcomes not process, method or anything further.

Most companies lack a useful value proposition. Research illustrates that many firms (93%) focus on process and not client outcomes. Exemplars include:

- We provide sales training.

- Our assessments assist with personality profiling.

- We analyze your issues with a needs assessment.

- Our model incorporates organizational redesign and leadership development.

These are not value propositions. While they indicate factual information about the organization; they do nothing else but focus on the organization. The entire purpose of a value proposition is to focus on sole benefit to the client.

Why have a value proposition? The proliferation of both the Internet and small business has created a conundrum of noise and activity around clients. That said it is vital for your services to be heard. Organizations today require focus on two complicated issues productivity and profitability- your mission is to create a succinct message that addresses these concerns to the decision maker.

Be mindful, this is not an elevator speech. The value proposition succinctly addresses the concern. Dependent the offered results the statement might also help with brand! A perfect example is FedEx- absolutely guaranteed to be there overnight. Not only is this one of the most powerful value propositions in the world but one of the best brands.

There are other reasons for writing a value proposition:

- Distinguishes you from the competition.

- Distinguishes you and the organization in distinctive markets.

- Provides a better source of lead generation.

- Accomplishes quicker time to market.

- Enables selling professionals to expediently get in front of decision makers.

What methods can I use to develop one? This tool contains no more than 10 to 15 words featuring as many adjectives as possible. Value propositions have these characteristics:

• Focus on what the buyer gets, it is outcome based

• Results focused that uses colorful words to gain the attention

• General in that the statement can appeal to any industry dependent on need


Here is an example to develop a value proposition:

1. A poor value proposition:

- We help create a fit individual

2. A good value proposition

- We have a 7-Step program for better abdominals

3. A great value proposition

- We dramatically accelerate results that match your individual fitness desires

How can an organization or individual develop a value proposition? The concept for developing a statement is not difficult to achieve yet takes patience. It is vital to look at the organization from a customer or competitive view.

Questions to answer are:

1. “What does your organization do that from a benefit and results perspective stands head and shoulders above any competitive pressure”?

2. What results to clients achieve with you?

3. What is the organization extremely passionate for in meeting client’s needs?

4. What are your core values that provide results to clients?

5. What an individual or organizational values, stated and/or implied provide value to clients?

6. How does the organization minimize client risk and provide a return on investment?

These are only a few of the many questions that can be asked to begin crafting a message. Do not expect to obtain a statement overnight yet do not belabor it either. Too many organization spend countless hours on mission, vision and values yet the organizational culture does not exemplify the creed or shamefully do not understand it. However, if you desire better results for your sales and marketing efforts it is best to begin with asking questions focused on client value and return on investment- to the client. If you cannot gain the answers the best source, your clients! Testimonials and case studies are great examples of value. Take their statements and simply develop them into benefit-based sentences.

It is imperative to understand that no magic formula exists for the creation of a value proposition. Further, it is an often overlooked and underutilized tool. And, organizations typically confuse mission and vision statements with this benefit based phrases. However, when researched, reviewed and required, these thought provoking statements might assist your organization to break away from the pack. The drafting of an articulate message might be split second differentiator between a cursory review of your competitor’s brochure or phone call and yours. Craft a new message, speak of value and results and watch the gap widen.

About Drew Stevens PhD

Drew Stevens PhD is known as the Sales Strategist. Drew assists organizations to dramatically accelerate business growth. He is the author of seven books including Split Second Selling and Split Second Customer Service and Little Book of Hope and is frequently called on the media for his expertise. Drew was recently nominated as one of 50 Top Sales Experts. Download a FREE copy of Drew’s White Paper on “Selling Effectiveness” or “Business Building” e-book at www.gettingtothefinishline.com.


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Sales Pipeline Done Right - “Focus” a great tool for bootstrappers

Thursday, July 24th, 2008

Sales are the life blood of any company. Especially in the early stages, a startup business must sell in order to survive. The primary responsibility of its founders is to deliver growth and increased revenues in order to reach profitability.

Some companies succeed even with slower growth, while others struggle while making faster revenue gains. The reason for this is predictability - the founders achieve what they say they are going to achieve.

When predictability is so highly valued, making more money than forecast may be perceived as being as bad as not reaching stated targets. Companies often increase their forecasts if they are having a better year than expected because they don’t want their year-end figures to be higher than predicted. Conversely, organizations also downgrade their forecasts if things are not going as well as expected. Basically, the executives of the company need to demonstrate that they are in control. This is no different to sales people: they must also demonstrate control over their forecasts.

Each month and, more importantly, towards the end of the quarter, the sales professional puts forward his or her best guess as to where he or she will be in relation to their target when the quarter ends. As part of this prediction they may well also name one or two deals that they believe are crucial to them. These are often, if not always, the largest deals they have.

The data is then taken from the corporate pipeline and fed to the sales manager, who will manipulate it and feed it to the sales director or VP of sales. In turn, the head of sales will manipulate it further and feed the data, as a forecast, to the CFO and CEO. If it is going to be a bad quarter, they’ll be told so.

However, thanks to a chain of manipulation and wishful thinking, the figures at this stage will appear less grim than they really are. This allows the VP of sales to explain that with a fair wind they should just be able to turn it around and make the number.

The psychology of what’s happening is simple. People want to keep their jobs and believe that admitting that they’ll miss their quarterly target is not the best way to do that.

Sales professionals need tools to help them to do their job. Unfortunately, the tools supplied by a company are often for the benefit of the company itself and not to the individual’s advantage. Even then, the tools are rarely fit for purpose and most will not be able to adapt to taking a checks & balance approach.

For instance, the pipeline is used as a management tool to make sure there are enough deals in the right places to meet target. In other words it becomes a reporting tool. These reporting tools are often misguided in their approach to the problem.

A pipeline’s primary purpose is to show you are in control. It gives you the ability to predict the outcome, even if that outcome actually falls short of your sales target. Prediction is only successful when it’s accurate. If you say you’re going to come out at 100% and you come out at 110% that’s not good. It may be good in revenue terms but it’s not an accurate prediction.

Introducing Focus from First Border! Focus is a visual opportunity manager that’s easy to use and even quicker to set up. In a matter of minutes you can input the deals you’re working on now and see how closing them will affect your sales commission. It was made for all for us bootstrappers with limited resources; a copy of Focus is about $200.

Better still, it’s built to let you drag and drop deals within the application to show you how winning or losing any specific deal will affect your target and the resulting commission. With a series of grids that show you immediately the status of each opportunity, you know at a glance which deals are the important ones to work on to make your number and which deals you don’t have a chance of winning. Now you can save valuable time and put more energy into winning those deals that really matter.

The result? More accurate forecasting and maximized sales.

Focus is for those in sales who maintain a portfolio of sales prospects and who would like to simplify the challenge of managing the different priorities presented by the complexity of opportunities.

Focus is a personal sales productivity tool that provides a simple, quick and easy way to help focus on and manage the right opportunities at the right time in order to maximise sales and earnings.

Unlike the traditional corporate tools that are designed to provide benefit to the company, Focus delivers benefit directly to the sales professional.

The simplicity of Focus is the visual way in which the opportunities are managed through the buying process. You can see at a glance the status of your business.

Focus: Dashboard - Visual Performance Indicator

The Dashboard changes when deals are moved. This provides immediate visual and numeric status of performance against target and commission for both the current and potential outcome. If you drag a deal into or out of the forecast you will immediately see the impact it has on achieving target and commission earnings. Scenario planning couldn’t be easier.

Focus has minimum data requirements! Quick and easy updates

The only information required to enter a deal is the customer name and the date the deal is likely to close. All other information is optional. Typically, most people can input all their leads and opportunities in less than 10 minutes. New opportunities can be added in seconds.

If you enter the value of the deal you can use the Dashboard to immediately see the impact that deal has on the outcome of your sales period. Also, further information can be added at any time, but only add further information to those deals that are important. Therefore, maintaining Focus is quick and easy.

Drag & Drop for quick and easy updates

Once a deal is in it is moved between grids by Drag & Drop… making it very quick and easy to move deals around.
Deal Information and Plans - For total control

Focus allows you to maintain full Deal Information and Plans for all your important deals. Qualification questions are built in and work on a traffic-light system for quick visual representation of qualification risk.

Deal Plans help you think through the opportunity by developing a series of questions that need answering. These questions help you progress the deal by highlighting your risk of losing due to lack of knowledge of the deal. By finding answers to the questions you make the deal more robust and increase your chance of winning. Deal plans also make it easy to communicate the status of the deal to others.

Reports - for easy sharing

Focus provides a series of standard reports for sharing of information. The reports can be saved in various formats allowing further changes to be made or adding the information to other documents very easy.

Filters - for easy review & sharing

Focus allows you to filter all opportunities across various criteria. You can filter by Customer, Private or Public deals, Partners, Co-Workers, Teams, Sectors, Close Dates and Sales Periods.

You can also see all the opportunities and with their corresponding deal plans. You may also wish to set up lead generation labels as Teams. You can then view your opportunities by lead generation source and share the progress of these leads.

This is just is just a starting point of all of the things Focus can do. For more go to firstborder.com and read more under products.

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No Magic Bullet

Wednesday, July 23rd, 2008

I was talking to the owner of a new laser clinic that helps people quit smoking. He just opened his doors a month ago and like any new business, he needs an infusion of cash.

He knows the exact number of clients he needs for the next couple months in order to pay the bills and he wanted to talk about what he could do to make money fast.

This guy is a fantastic salesman - you intuitively trust and believe him, and in him. He had an assistant cold-calling businesses for him to make “lunch & learn” presentation regarding his service and quitting smoking.

He wanted me to give him one marketing idea that he could throw his last few bucks at that would result in guaranteed customers.

Of course, there isn’t one.

If he was in business longer, had a regular clientele and needed to make some cash fast, I’d suggest some kind of sale or up-sell to his current customers. However, with him just starting out and no client list yet, there’s no real quick fix. Except what he was already doing…getting out and pounding the pavement and putting his sales strength into full use.

Marketing is all about creating trust and credibility with an ongoing relationship - something that doesn’t usually happen quickly. That’s why it’s so important for all of us small business owners to consistently market and start marketing from day one - it takes time to build a list, a reputation, a solid customer base.

I suggested a few ways he could start building up his marketing, right now, that didn’t cost much money or time - two things he’s short on at the moment.

Some ideas are:

  • identify local doctors and chiropractors who have a client ezine or newsletter, where he could add a little blurb about his services and start building awareness and credibility using someone else’s list (strategic partnership)
  • add some reports, articles, how-to lists (quickly and easily put together from all the material he has laying around his office) to his website that people can access for free - give people something to keep coming back for and start building credibility and value
  • have his website design person quickly add a sign-up box to his website to start gathering names and email addresses so he can start doing email marketing
    • he’ll use one of his free reports to give in exchange to people for their contact information
  • do up a letter of introduction, enclose the brochure he already has printed up, and drop off at doctors, chiropractors, wellness centres, massage therapists, etc. in the surrounding area - anyone who may be interested in referring their clients to his laser clinic

This new small business owner left our lunch feeling good and more in control of his efforts. He realized he is already doing the best thing to make some short-term revenue. Plus there are some things he can start doing now that he will build on and be able to develop further once he’s got some money coming in.

He realizes there’s no magic bullet in marketing but that there are lots of strategies that he can use. Now he’s excited to make money fast - to keep his doors open but also to fire up his marketing machine!

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Can the IRS help your business in a recession?

Tuesday, July 22nd, 2008

In light of the soft economy, businesses are seeking new ways to save money and maintain strong financials. Increasingly, business owners are looking to the IRS as a source of assistance and valuable savings opportunities to help ride out the economic slowdown. There are a few easy steps that savvy business owners can take to make the most of what Uncle Sam has to offer:

Don’t Skimp on the Necessities – The amount allotted for small business equipment purchases has doubled for 2008. This may allow business owners to afford the necessary tools to keep their businesses up and running. Up to $250,000 can be expensed this year, as compared to $125,000 in 2007. “Equipment” refers to items such as computers and software, office furniture and machinery.

Last Year’s Loss May Be This Year’s Gain – Did your expenses exceed revenues last year? If so, you may have had a net operating loss. Consider carrying back this loss to offset your income and receive a tax refund. If business is still down, it’s not too early to start planning for a carryback this year. Net losses can be carried back for up to two years, so follow up on old losses for a quick infusion of cash.

Don’t Let Unpaid Debts Go Unnoticed – Even if your business is doing well, there is a possibility that your customers or other business connections may be struggling. If sales go unpaid or loans are not repaid, business owners are entitled to a bad debt deduction. Documentation is key here, as debts must be proven worthless in order to qualify.

Take Care of Your Health – The last thing a small business needs in difficult times is a sick or injured owner. The IRS has made it easier for business owners to take proactive steps to care for their health by allowing them to deduct health insurance premiums on policies held in the owner’s name.

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Shrink and Grow Rich

Monday, July 21st, 2008

Naturally, the revenue of your business should grow year after year, but that does not mean that the number of relationships you manage must increase too. In fact, when it comes to relationships, the goal is not to see how large your client-base can reach, but rather how small it can remain. Many entrepreneurs tend to hit a plateau because they subscribe to the precept that you must continually “grow or perish” in order to succeed and maximize bottom line profits. “Right sizing” is a critical step in moving to the next level. I can’t begin to tell you how many thought-for-profit entrepreneurs I’ve witnessed benefit enormously from taking a proverbial step back.

As a general rule, 20% of any business’ clients generate 80% of the revenue. The question you should ask yourself is this: do you invest 80% of your time on those 20%?

Getting Started: Client Classification & the Ideal Client Profile

The first action to take in right sizing your practice is to classify your clients. Through this process, you will create an ideal client profile which will allow you to identify the type of future clients that you wish to work with. I encourage you to create a detailed client classification by using the Triple-A approach.

In this model, AAA clients are the best-rated clients, performing exceptionally in the following three criteria: Assets, Attitude, and Advocacy. AAA clients meet asset criteria, have positive attitudes that are most enjoyable to work with, and frequently work as advocates who widely recommend your services.

AA clients are almost, but not quite, at the AAA level. These clients have sufficient assets to be an A level client, but also seem pleased with your service and have a good attitude. However, for whatever reason, AA clients are not sending introductions your way. The goal with an AA client is to encourage them to reach the AAA level by offering superb client service. At the same time, it is also important to show AA clients how to introduce others into your ‘exclusive club.’ This often takes time and patience, but the results are well worth it.

An A designation denotes a client that you know has A-level assets, but who is simply a ‘customer,’ and not yet a true client. It is crucial to demonstrate to A clients that you are a superior professional who they can trust. The good news is that these clients are typically the best prospects since they are already partially committed to your services; therefore, you don’t have to start from scratch in winning them over as clients. The remaining classes of clients (B, C, D etc.) don’t have immediate potential but are not to be entirely overlooked.

You’re Not Firing them, You’re Respectfully Disassociating

The next step in the right sizing process is to call the clients on your list. When speaking to each client, it is essential that you are forthright and rational:

Up until recently, I’ve been trying to be all things to all people, and over time, I found myself becoming a generalist. Going forward, I’ve decided to become a specialist who strives to be all things to some people. I know my capacity, and in order to offer superior service, I have to make some changes to my practice. Part of that includes using an ideal client profile that reflects the type of client who is a good fit for my team and me. (Outline AAA). Based on this profile and our history together, I feel that going forward there probably isn’t a good fit. However as a value added service, I have identified someone who I feel would be a better fit for you.

The point of right sizing is to build a clientèle made up exclusively of clients you want to work with, because these are the clients who will become raving fans and sing your praises to their friends, family and associates. These clients are the key to building a successful, profitable practice. Remember, it’s more important to reach people who count, than to count the people you reach.

Duncan MacPherson is co-author of Breakthrough Business Development: A 90 Day Plan to Build Your Client Base And Take Your Business To The Next Level” and co-founder of Pareto Platform, an industry leading business development firm that helps entrepreneurs improve their practice management and business development systems. For more actionable templates and other resources, visit www.paretoplatform.com.

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Public Relations: The “Truth or Dare” Scare

Monday, July 21st, 2008

“Truth or Dare?

Remember the kid’s game “Truth or Dare?” You’re asked to either answer a question (with the truth of course) or be summoned to a yet-to-be-named perilous activity known as the dare. Of course, there’s risk of complete and total humiliation either way…the truth could reveal something utterly embarrassing and a dare could grant you the opportunity to completely mortify yourself. But choose you must…or you simply don’t play.

Dared to Spin

In the world of business, you’d be surprised how often I’m asked to choose dare. Since I’m the “PR guy,” when briefing the press on whatever the matter of the day might be, rather than choose to tell the exact truth, I’m dared to “spin” it. The rub with “spinning” a story is that you have utterly no inkling about what might happen. It’s tremendously risky and the upside isn’t so great. On one hand, it might be relatively harmless and you escape with a grand victory. On the other hand, more times than not, it can cause great humiliation to yourself or your company and it won’t take long for you to wish you could go back and take the “Truth” option instead.

The Wisdom of Truth

Working with the media is an exhilarating experience providing great opportunities. It’s a great tool that is helpful for spreading the word about your company or product. But to keep the trust of a reporter and therefore ensure future collaboration, choosing the “truth” is always the wisest decision. Choosing to “spin” only erodes your credibility and cheapens your company’s reputation.

Far and away, the best kind of story you can provide the media is always rooted in the truth. Even when it’s bad news…here are some tips when you dare to tell the truth:

  • Ensure accuracy. No matter if the facts are good or bad, you want to ensure the information you share with the media is accurate. In bad situations, take your lumps up front and let your bad story be a one-day story.
  • If you make a mistake, don’t worry…just correct it. Even if you forgot to share something critical or you misspoke and needed to provide a correction, that’s okay. Making a mistake is human and the media will forgive you. Purposely not telling the truth? Now that’s another matter.
  • You don’t need to be overly forthright. I said tell the truth, not tell your entire life story. Share the facts related to the current situation, but don’t sway too far away and give up other juicy information that isn’t relevant.
  • It’s okay to say “I can’t tell you…” If you do run into a situation that you can’t share something…just tell them why. Here’s some examples: “I can’t share that information with you because its confidential,” “Due to competitive reasons, that information is not disclosed,” or “I can’t speak on behalf of that other party, you’ll have to ask them.”
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