Everyone, I thought this read would be very helpful in assisting with maintaining current and new clients or customer. See if you agree or is this article right on the money.
Don't Lose Prospects to 'The Black Hole'
Implement a variety of strategies to ensure more prospects become clients.
By: Jill Konrath
07/26/2010
Have you ever had hot prospects who suddenly stopped returning your calls? Then you know how disconcerting it can be--especially when they'd expressed so much interest in your product or service only days before.
At first, you assume their lack of responsiveness is an isolated situation that will quickly self-correct. But after repeated failed attempts to connect, you start to question your own sanity.
You could have sworn they were interested, but their current behavior indicates otherwise. And, not wanting to appear too desperate or to come across as a real pest, you're stymied in terms of what your next steps should be.
Why They Disappeared
As a seller, it's always important to analyze what may be causing this behavior before taking action. Here are typical reasons prospects disappear into "The Black Hole":
1.They're totally swamped. Without a doubt, this is the most common reason. In virtually every company today, people have way too much to do and not nearly enough time to get it all done. They fully intend to continue the conversation, but not right now.
2.Priorities changed. This can happen overnight. Changing market conditions, bad third-quarter results and new leadership are just a few of the possible root causes. When this happens, it's nearly impossible to regain your momentum in the short term.
3.Lack of urgency. Sometimes sellers confuse a prospect's interest level with a desire to take action today. As such, they share all the glorious details about their offering instead of building a business case for immediate change.
4.Column fodder. Occasionally prospects just need comparative bids/pricing to justify their decision to go with another company.
5.They know everything. When prospects feel they have all the information they need, there's literally no reason to talk with you any further.
Different reasons call for different actions. Some you can prevent by doing things differently in your customer interactions. Always be open to this possibility, since prevention is your best cure.
In any case, you need answers. Is it "yea" or "nay"? Is the prospect still interested? Should you keep pursuing him or find new prospects?
What You Can Do
When you don't know what's behind a prospect's silence, figuring out how to respond can be a dilemma--especially since you don't want to be a pest. I suggest the following:
1.Just keep trying. Realize that prospects expect you to carry the "keep in touch" burden--so do it. It might take eight to 10 attempts before you reach them again. Don't panic. This is normal in today's business environment.
2.Make each connection valuable. Don't just leave a voice mail saying, "Hi, Eric. Just getting back to you as I promised about your xxx decision. If you have any questions, give me a call."
Instead, you might say, "Eric, based on our conversation last week, I know how important it is to you to shorten your sales cycle. There's a white paper on our website that addresses this issue. I'll be sending you a link via e-mail shortly."
3.Have a sense of humor. After four to five voice mails, leave a funny message such as, "Eric. I know you're swamped. But I also know that shortening your sales cycle is important to you. That's why I keep bugging you. I'm looking forward to finally reconnecting."
4.Leverage a variety of mediums. Mix up phone calls with e-mails, mailings, invitations to upcoming events, sending articles, etc. To position yourself as a resource, make sure each connection educates, informs or adds insights.
5.Create multiple entry points. Never let one person be your total gateway to a company. Identify and nurture multiple relationships concurrently. Just explain matter-of-factly to your contact, "It's how I can best serve your company's needs." When appropriate, reference others you're talking to in your messages and e-mails.
6.Assess whether they're really switching. To avoid being column fodder, find out if they're serious about making a change from the status quo. Ask, "What's causing you to look at other companies instead of staying with your current provider?"
7.Re-evaluate your initial connection. If you've told them everything about your offering, they have no need to meet with you again. To avoid this extremely common mistake, spend only a little time talking about what you do. Instead, focus on understanding their business issues, challenges and objectives. Then suggest a follow-up meeting to go over your ideas on how to help them in these areas.
8.Increase the urgency. Keep up-to-date on their current business priorities. If operational efficiency is a key driver, focus on how your offering can help in this area. If driving revenue growth is most important, align with that. This is essential in order to stay top-of-mind in their crazy-busy environment.
9.Plan your next step now. Never leave one meeting without a homework assignment (for you and the customer) and a firm follow-up appointment. If the prospect is unwilling to do this, it's an indicator that something may not be quite right--which should prompt you to explore the prospect's need and urgency in greater depth.
10.Let them off the hook. Send an e-mail stating that you thought they were interested, but perhaps you misjudged the situation since you haven't heard back from them in six weeks. Believe it or not, this strategy often gets a response and an explanation from a prospect who is feeling guilty about not reconnecting.
11.Reduce your contact frequency. If you haven't heard from a prospect after 10 touches, start contacting him less often. A quarterly schedule might be more appropriate. Or, you might want to keep on top of what's happening in the account and reconnect at a more appropriate time.
By leveraging one or more of these strategies, you'll often be able to re-engage a prospect who has disappeared into "The Black Hole." Not always, but often. And if you've continually provided value and focused on the impact your offering makes, that prospect will likely be ready to implement your solution yesterday.
Jill Konrath is a sales strategist, speaker and author. Her latest book is is SNAP Selling: Speed Up Sales and Win More Business With Today's Frazzled Customers. She also wrote Selling to Big Companies. Konrath brings you fresh strategies and practical advice that actually works when selling to today's crazy-busy prospects.
A WINNER NEVER QUITS AND A QUITTER NEVER WINNER-YOU ARE A WINNER!
Wednesday, July 28, 2010
Friday, July 23, 2010
Build a Professional Powerful Network
I enjoyed reading the ten ways to Build A Powerful Professional Network, most of the people, I already have on my professional team. It is never to late to build or rebuild your professional network.
How To Build A Powerful Professional Network
by Tai Goodwin
Want to get ahead? Here are 10 key people you'll need in your network to help you succeed.
It is important to know the two Q's as you build out your network: quality and quantity. But have you considered the importance of having a well-rounded network?
In this job market, having a strong network is critical to your professional survival. There are plenty of tips and articles on where to find people, how and when to connect to them and even what you need to say to attract and maintain your network. This article focuses on who should be in your network.
Here are the top 10 people that should be in your network:
1. The Mentor: This is the person who has reached the level of success you aspire to have. You can learn from their success as well as their mistakes. Heed their wisdom and experience. This relationship offers a unique perspective because they have known you through several peaks and valleys in your life and watched you evolve.
2. The Coach: The coach is someone who comes in at different times in your life. They help with critical decisions and transitions and offer an objective perspective with no strings attached.
3. The Industry Insider: This is someone in your chosen field who has expert-level information or access to it. This person will keep you informed of what's happening now and what the next big thing is. Invite them to be a sounding board for your next innovative idea.
Very good point. In each season of my personal and professional life, I have tried to have 3 key players: someone who knows more than I do, someone who is a partner, and someone whom I can mentor. He....
4. The Trendsetter: This is someone outside of your chosen industry who always has the latest buzz. It can be on any topic that you find interesting. The goal in having this person in your network is to look for those connections that spark innovation via the unconventional. It will also help you keep your conversations interesting.
5. The Connector: This is a person who has access to people, resources and information. As soon as they come across something related to you, they are sending you an e-mail or picking up the phone. Connectors are great at uncovering unique ways to make connections, finding resources and opportunities that most people would overlook.
6. The Idealist: This is the person in your network you can dream with. No matter how "out there" your latest idea is, this is the person who will help you brainstorm ways to make it happen. Without judgment, they are focused on helping you flesh out your dreams in high definition, even if you don't have a solid plan yet on how to make it happen.
7. The Realist: On the flip side, you still need the person who will help you keep it real. This is the person who will give you the raised eyebrow when your expectations exceed your effort. These are not people who knock down your dreams, rather they challenge you to actively make your dream happen.
8. The Visionary: Visionary people inspire you by their journey. They are similar to the Idealist, but the visionary can help you envision an actual plan to reach your goal. One personal encounter with this type of person can powerfully change the direction of your thinking and life.
9. The Partner: You need to have someone who is in a similar place and on a similar path to share with. In fact, partners do a lot of sharing. This is a person you can share the wins and woes with. Partners will also share resources, opportunities and information.
10. The Wanna-Be: This is someone you can serve as mentor to. Someone you can help shape and guide based on your experiences. One of the best ways to tell that you understand something is to be able to explain it to someone else. And sometimes, one of the best motivators for pushing through obstacles and hardship is knowing that someone is watching.
Obviously you will want to have more than 10 people in your network. The trick is to make sure you are building a diverse network by adding people from different industries, backgrounds, age groups, ethnic groups, etc. … that fit into the roles listed above. Building a deep network by only including people from your current profession or business focus leaves too many stones unturned, limiting potential opportunities.
Serious about building a strong professional network that can actually provide the leverage you need to make progress at work or in your business? Evaluate your current network and get started filling in the gaps.
A WINNER NEVER QUITS AND A QUITTER NEVER WINNER-YOU ARE A WINNER!
How To Build A Powerful Professional Network
by Tai Goodwin
Want to get ahead? Here are 10 key people you'll need in your network to help you succeed.
It is important to know the two Q's as you build out your network: quality and quantity. But have you considered the importance of having a well-rounded network?
In this job market, having a strong network is critical to your professional survival. There are plenty of tips and articles on where to find people, how and when to connect to them and even what you need to say to attract and maintain your network. This article focuses on who should be in your network.
Here are the top 10 people that should be in your network:
1. The Mentor: This is the person who has reached the level of success you aspire to have. You can learn from their success as well as their mistakes. Heed their wisdom and experience. This relationship offers a unique perspective because they have known you through several peaks and valleys in your life and watched you evolve.
2. The Coach: The coach is someone who comes in at different times in your life. They help with critical decisions and transitions and offer an objective perspective with no strings attached.
3. The Industry Insider: This is someone in your chosen field who has expert-level information or access to it. This person will keep you informed of what's happening now and what the next big thing is. Invite them to be a sounding board for your next innovative idea.
Very good point. In each season of my personal and professional life, I have tried to have 3 key players: someone who knows more than I do, someone who is a partner, and someone whom I can mentor. He....
4. The Trendsetter: This is someone outside of your chosen industry who always has the latest buzz. It can be on any topic that you find interesting. The goal in having this person in your network is to look for those connections that spark innovation via the unconventional. It will also help you keep your conversations interesting.
5. The Connector: This is a person who has access to people, resources and information. As soon as they come across something related to you, they are sending you an e-mail or picking up the phone. Connectors are great at uncovering unique ways to make connections, finding resources and opportunities that most people would overlook.
6. The Idealist: This is the person in your network you can dream with. No matter how "out there" your latest idea is, this is the person who will help you brainstorm ways to make it happen. Without judgment, they are focused on helping you flesh out your dreams in high definition, even if you don't have a solid plan yet on how to make it happen.
7. The Realist: On the flip side, you still need the person who will help you keep it real. This is the person who will give you the raised eyebrow when your expectations exceed your effort. These are not people who knock down your dreams, rather they challenge you to actively make your dream happen.
8. The Visionary: Visionary people inspire you by their journey. They are similar to the Idealist, but the visionary can help you envision an actual plan to reach your goal. One personal encounter with this type of person can powerfully change the direction of your thinking and life.
9. The Partner: You need to have someone who is in a similar place and on a similar path to share with. In fact, partners do a lot of sharing. This is a person you can share the wins and woes with. Partners will also share resources, opportunities and information.
10. The Wanna-Be: This is someone you can serve as mentor to. Someone you can help shape and guide based on your experiences. One of the best ways to tell that you understand something is to be able to explain it to someone else. And sometimes, one of the best motivators for pushing through obstacles and hardship is knowing that someone is watching.
Obviously you will want to have more than 10 people in your network. The trick is to make sure you are building a diverse network by adding people from different industries, backgrounds, age groups, ethnic groups, etc. … that fit into the roles listed above. Building a deep network by only including people from your current profession or business focus leaves too many stones unturned, limiting potential opportunities.
Serious about building a strong professional network that can actually provide the leverage you need to make progress at work or in your business? Evaluate your current network and get started filling in the gaps.
A WINNER NEVER QUITS AND A QUITTER NEVER WINNER-YOU ARE A WINNER!
Friday, July 16, 2010
Trimming Payroll
Trimming Payroll is subject sometimes that unvoidable, whether large or small. This unique articles gives a suggest as to how to do it with tact.
Small-business owners looking to stay afloat in today's choppy economy have a lot riding against them. Raw materials are pricier. The U.S. dollar is worth less. Credit is harder to come by. And the cost of health care continues to rise. As a result, many entrepreneurs are slashing one of their biggest expenses: payroll.
In fact, nearly half of small-business owners polled in a recent survey said they plan to lay off workers, curtail raises or offer days off instead of wage increases as a result of the economic downturn. The survey was conducted by PayCycle, an online payroll service in Palo Alto, Calif.
While layoffs may be necessary at some small businesses, employers should avoid sharpening the ax. Here's why: Not only do employees contribute to the company's productivity and bottom line, they're often well-schooled (at a great cost) on your specific business methods. Conduct layoffs now, and you'll spend even more to train a whole new batch once the economy picks back up.
Content Continues Below
--------------------------------------------------------------------------------
Instead, consider these other payroll-trimming strategies:
Keep employees working. If there isn't enough work to go around, consider switching up people's duties, suggests Ray Friedman, a management professor at Vanderbilt University in Nashville, Tenn. "I have seen big companies make it through downturns by having factory workers do maintenance work [such as] painting, fixing tools" and the like, he says. Small companies, he adds, can receive similar cost savings by having current employees perform jobs that you would otherwise hire someone to do.
While such a role reversal will likely upset some workers, Christopher J. Collins, an associate professor of human-resource studies at Cornell University in Ithaca, N.Y., says that "complete honesty is really important." If you articulate to your employees that such a job shift is only temporary, they may appreciate your resourcefulness and pitch in where they can.
Explore alternatives. As you converse honestly with employees about your business's struggles, ask them for their cost-reduction thoughts, suggests Collins. "They may have creative ideas that have to do with nonpayroll ways to save money." For instance, there may be some inefficient processes that an employee may have noticed that, if fixed, could save the company a bundle.
Ask for volunteers. You might also ask employees to consider a voluntary furlough, which is typically an unpaid temporary layoff or leave of absence. "Some employees may want time off," says Friedman. "It's better to let those who want, and can afford, time off to not work, rather than forcing it on everyone." Some employees might consider using the time off to take a vacation, spend time with family or work on a personal project if they're promised a job when the furlough is over.
Offer other incentives. Look into other forms of compensation, says Gene Marks, a small-business consultant in Philadelphia. For instance, providing stock options in lieu of payment may be acceptable for a short period. Additionally, if your company regularly provides bonuses but can't afford them this year, consider offering nonpayment incentives instead, Marks says. "If you have anything like a vacation home or a timeshare that you can give to an employee that doesn't cost you really anything, offer it," he says. Just make sure you're upfront about the switcheroo, as (understandably) many employees will chafe at having their bonuses disappear.
Install shorter work weeks. Reducing your employee's hours may do the trick as well. For instance, Tray-Pak, a custom plastic packaging maker in Reading, Penn., has for the past two years instituted a four-day workweek during the typically slow months from February until April. "In our slow period, we really don't need full staff," says Ken Ritter, the company's chief financial officer. Historically, he adds "we would have laid those people off." However, Tray-Pak has found that it's worth keeping the employees on because the training process, which takes three weeks, is so costly.
Reduce pay. If all else fails, consider reducing employees' pay, says Collins from Cornell. This is obviously going to be controversial. However, since a person's livelihood is on the line, a pay cut vs. a job cut, for many employees, may be preferable. The key to this predicament, he adds, is to "keep employees involved." It will be a difficult conversation, but after relaying to your staff that the business is being squeezed and its overall stability is in question, a pay cut may be an easier pill to swallow.
--------------------------------------------------------------------------------
Write to Diana Ransom at dransom@smartmoney.com.
A WINNER NEVER QUITS AND A QUITTER NEVER WINNER-YOU ARE A WINNER!
Small-business owners looking to stay afloat in today's choppy economy have a lot riding against them. Raw materials are pricier. The U.S. dollar is worth less. Credit is harder to come by. And the cost of health care continues to rise. As a result, many entrepreneurs are slashing one of their biggest expenses: payroll.
In fact, nearly half of small-business owners polled in a recent survey said they plan to lay off workers, curtail raises or offer days off instead of wage increases as a result of the economic downturn. The survey was conducted by PayCycle, an online payroll service in Palo Alto, Calif.
While layoffs may be necessary at some small businesses, employers should avoid sharpening the ax. Here's why: Not only do employees contribute to the company's productivity and bottom line, they're often well-schooled (at a great cost) on your specific business methods. Conduct layoffs now, and you'll spend even more to train a whole new batch once the economy picks back up.
Content Continues Below
--------------------------------------------------------------------------------
Instead, consider these other payroll-trimming strategies:
Keep employees working. If there isn't enough work to go around, consider switching up people's duties, suggests Ray Friedman, a management professor at Vanderbilt University in Nashville, Tenn. "I have seen big companies make it through downturns by having factory workers do maintenance work [such as] painting, fixing tools" and the like, he says. Small companies, he adds, can receive similar cost savings by having current employees perform jobs that you would otherwise hire someone to do.
While such a role reversal will likely upset some workers, Christopher J. Collins, an associate professor of human-resource studies at Cornell University in Ithaca, N.Y., says that "complete honesty is really important." If you articulate to your employees that such a job shift is only temporary, they may appreciate your resourcefulness and pitch in where they can.
Explore alternatives. As you converse honestly with employees about your business's struggles, ask them for their cost-reduction thoughts, suggests Collins. "They may have creative ideas that have to do with nonpayroll ways to save money." For instance, there may be some inefficient processes that an employee may have noticed that, if fixed, could save the company a bundle.
Ask for volunteers. You might also ask employees to consider a voluntary furlough, which is typically an unpaid temporary layoff or leave of absence. "Some employees may want time off," says Friedman. "It's better to let those who want, and can afford, time off to not work, rather than forcing it on everyone." Some employees might consider using the time off to take a vacation, spend time with family or work on a personal project if they're promised a job when the furlough is over.
Offer other incentives. Look into other forms of compensation, says Gene Marks, a small-business consultant in Philadelphia. For instance, providing stock options in lieu of payment may be acceptable for a short period. Additionally, if your company regularly provides bonuses but can't afford them this year, consider offering nonpayment incentives instead, Marks says. "If you have anything like a vacation home or a timeshare that you can give to an employee that doesn't cost you really anything, offer it," he says. Just make sure you're upfront about the switcheroo, as (understandably) many employees will chafe at having their bonuses disappear.
Install shorter work weeks. Reducing your employee's hours may do the trick as well. For instance, Tray-Pak, a custom plastic packaging maker in Reading, Penn., has for the past two years instituted a four-day workweek during the typically slow months from February until April. "In our slow period, we really don't need full staff," says Ken Ritter, the company's chief financial officer. Historically, he adds "we would have laid those people off." However, Tray-Pak has found that it's worth keeping the employees on because the training process, which takes three weeks, is so costly.
Reduce pay. If all else fails, consider reducing employees' pay, says Collins from Cornell. This is obviously going to be controversial. However, since a person's livelihood is on the line, a pay cut vs. a job cut, for many employees, may be preferable. The key to this predicament, he adds, is to "keep employees involved." It will be a difficult conversation, but after relaying to your staff that the business is being squeezed and its overall stability is in question, a pay cut may be an easier pill to swallow.
--------------------------------------------------------------------------------
Write to Diana Ransom at dransom@smartmoney.com.
A WINNER NEVER QUITS AND A QUITTER NEVER WINNER-YOU ARE A WINNER!
Wednesday, July 14, 2010
Switch and Bate Business
I know I love the business side as owner preffered, but sometime you may need to have few jobs on the side until you become full time entrepreneur. I found this interesting read.
Business Group Accuses Obama of Neglecting Jobs
Published: Wednesday, 14 Jul 2010
10:02 AM ET Text Size By: ReutersDiggBuzz FacebookTwitter More Share
One of the most influential U.S. business groups accused President Barack Obama on Wednesday of neglecting job creation and sowing economic uncertainty with burdensome tax and regulatory policies.
Photo by : Pete Souza
President Barack Obama
--------------------------------------------------------------------------------
The U.S. Chamber of Commerce urged Obama and his Democratic allies in Congress to shift their approach to "unlock frozen capital and jolt our economy back to life."
The group released the letter before a "Jobs for America" summit it is hosting and on the same day Obama's Council of Economic advisers is releasing a report that shows the president's policies are creating jobs and stimulating the economy.
The letter adds to growing criticism the Obama administration has faced lately from the business sector.
Four months before November congressional elections in which Obama's Democrats are struggling to preserve their dominance, Republicans have pounced on the criticisms to try to paint Obama as "anti-business."
The Chamber gave Obama credit for stabilizing the economy and heading off another Great Depression.
"But once accomplished, the congressional leadership and the administration took their eyes off the ball," the letter said. "They neglected America's number one priority — creating the more than 20 million jobs we need over the next 10 years for those who lost their jobs, have left the job market, or were cut to part-time status - as well as new entrants into our workforce."
The Chamber's jobs event, which takes place in Washington, will begin at 12:30 p.m. Republican Senator Judd Gregg of New Hampshire, Democratic Senator Mary Landrieu of Louisiana are among the speakers.
Erskine Bowles and Alan Simpson, leaders of a panel appointed by Obama on deficit reduction, are also scheduled to speak.
The healthcare reform legislation, financial regulatory reform and proposals to cap carbon emissions are cited by some in corporate America as examples of regulatory overreach. Business groups have also criticized Obama's fiscal policies, warning of the danger of high deficits.
Business groups also oppose Obama's plans to allow President George W. Bush's tax cuts on higher-income Americans expire at the end of this year.
A rift with the business community could pose other problems for Obama.
U.S. businesses are holding onto some $1.8 trillion in cash. The Obama administration wants to encourage them to invest some of that money to help jump-start the economic recovery.
Copyright 2010 Reuters. Click for restrictions.
Topics:Republicans
Democrats
Barack Obama
Economy (U.S.)
White House
A WINNER NEVER QUITS AND A QUITTER NEVER WINNER-YOU ARE A WINNER!
Business Group Accuses Obama of Neglecting Jobs
Published: Wednesday, 14 Jul 2010
10:02 AM ET Text Size By: ReutersDiggBuzz FacebookTwitter More Share
One of the most influential U.S. business groups accused President Barack Obama on Wednesday of neglecting job creation and sowing economic uncertainty with burdensome tax and regulatory policies.
Photo by : Pete Souza
President Barack Obama
--------------------------------------------------------------------------------
The U.S. Chamber of Commerce urged Obama and his Democratic allies in Congress to shift their approach to "unlock frozen capital and jolt our economy back to life."
The group released the letter before a "Jobs for America" summit it is hosting and on the same day Obama's Council of Economic advisers is releasing a report that shows the president's policies are creating jobs and stimulating the economy.
The letter adds to growing criticism the Obama administration has faced lately from the business sector.
Four months before November congressional elections in which Obama's Democrats are struggling to preserve their dominance, Republicans have pounced on the criticisms to try to paint Obama as "anti-business."
The Chamber gave Obama credit for stabilizing the economy and heading off another Great Depression.
"But once accomplished, the congressional leadership and the administration took their eyes off the ball," the letter said. "They neglected America's number one priority — creating the more than 20 million jobs we need over the next 10 years for those who lost their jobs, have left the job market, or were cut to part-time status - as well as new entrants into our workforce."
The Chamber's jobs event, which takes place in Washington, will begin at 12:30 p.m. Republican Senator Judd Gregg of New Hampshire, Democratic Senator Mary Landrieu of Louisiana are among the speakers.
Erskine Bowles and Alan Simpson, leaders of a panel appointed by Obama on deficit reduction, are also scheduled to speak.
The healthcare reform legislation, financial regulatory reform and proposals to cap carbon emissions are cited by some in corporate America as examples of regulatory overreach. Business groups have also criticized Obama's fiscal policies, warning of the danger of high deficits.
Business groups also oppose Obama's plans to allow President George W. Bush's tax cuts on higher-income Americans expire at the end of this year.
A rift with the business community could pose other problems for Obama.
U.S. businesses are holding onto some $1.8 trillion in cash. The Obama administration wants to encourage them to invest some of that money to help jump-start the economic recovery.
Copyright 2010 Reuters. Click for restrictions.
Topics:Republicans
Democrats
Barack Obama
Economy (U.S.)
White House
A WINNER NEVER QUITS AND A QUITTER NEVER WINNER-YOU ARE A WINNER!
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