GAR Consulting Newsletter volume 7
garconsulting@outlook.com
Passion, planning, resiliency, adding value and hard work are the keys to opening doors and building your business.
A few Better Business practices:
Rather than using outdated slogans, elevate your strategic marketing; new age action planning that engages the client on several different fronts is the best new trend to business.
Always look for a company's moat—its competitive advantage—and whether the moat is shrinking or growing. Always act as if you own the entire business, looking at the future profit stream and deciding what it’s worth. And you have to be willing to ignore the market rather than follow it, because you want to take advantage of the market’s mistakes—the products, services or companies that have been underpriced.
Be willing to speak frankly and criticize things. Do not be afraid to take a position, like taking a stand on raising taxes on the rich, which run counter to possible self-interest. Be inspired to start writing your own annual letter about your work, product or company. It is helpful to sit down once a year and explain the results your seeing, both good and bad.
No matter how much money you have, you can’t buy more time. There are only 24 hours in everyone’s day. Do not let your calendar get filled up with useless meetings. On the other hand, be very generous with your time for the people who you trust. Give your close advisers your phone number; so they can just call you up and you should answer the phone…Not a machine...LOL
As an independent thinker and an independent business owner, you will always need to assert your individualism. Let your independence ring out with forward-thinking insight and forward-thinking business practices. Realize that for business you want, it is your independence that will win the new client or the next project or be the product or service in demand.
Here are some tips…
Businesses need help translating their product or service into actionable strategies, creating cutting-edge products and services, or adapting businesses and brands to new spaces or opportunities. Remember, opportunities typically come in the wake of new ventures or sudden pressing issues. That's when you want to spring to mind as the perfect person to help. You must cultivate personal networks and strive for face-to-face interaction at all costs. Price by the hour and you'll be viewed as a commodity. Instead, keep clients, customers and staff laser-focused on the lasting value you create; value-added strategies with your baseline requirements. Your company must remain flexible by cultivating a freelance support network. Use contractors from varied industries and disciplines who can introduce additional expertise and perspective...To succeed as a business, as much time must be devoted to acquiring new business as performing assigned tasks. Any downtime should be reinvested into business development. Tone, context, and subtle nuances are easily lost in translation online. Before sending, tweeting, posting, etc., ask yourself if your message could be misconstrued or misinterpreted. If there's any doubt, pick up the phone. To state the obvious: Emails cannot be undone--so watch what you say and whom you copy. Don't write anything in an email that you wouldn't be comfortable saying publicly. If you're going to add people to an email conversation, let the recipients know ("I'm copying John Smith, our head of marketing, here").Jumping into online conversations, say, on Twitter, is another area where you can get into trouble. Just as you wouldn't insert yourself into a dialogue with strangers without first listening to the discussion, don't dive right into an exchange online. You're apt to respond emotionally. What can you contribute to the conversation? If you can't add insights or information of value, your commentary probably is better left unsaid. Be relevant and stay on topic. Keep subject lines brief and directly related to the contents of your email. When composing important or high-stakes emails, write them out, save them as drafts, and then read them aloud later. Crucial messages deserve a second or third read-through.Your employees, customers, partners, etc. deserve your full attention in meetings and conference calls. So give it to them. In most cases, the calls, the emails, the texts can all wait.There is no such thing as failure."No" doesn't mean "no"—just "no... for now."When exploring new market opportunities remember that situations change. Just because your approach or offer doesn't make sense to a potential customer or partner now doesn't mean that it won't later on. Markets and strategies evolve, internal stakeholders come and go…Never be afraid to pick up the phone for a follow-up, especially if situations have shifted in your firm's favor. Knock politely on many doors—and don't be afraid to crawl in an open window.Don't be afraid to go up the chain and call a high-level decision maker: At worst, they'll ignore the query or say no; at best, they'll direct you straight to the proper point of contact. Cash is king—don't let yourself get crowned.Big contracts and high-profile deals look good on paper, but when push comes to shove, all that matters is leverage. Whether you are stepping up to the plate to face a 95 mph fastball or making a sales presentation, confidence can make or break your performance. Your body language and your physical presentation have a lot to do with your overall success.
Top performers find their enthusiasm and
belief to be among their most important
assets.
1. Be Prepared
The act of preparation itself can shift your attitude positively --and simply focusing on meeting preparation can take your mind off worrying about what might going to happen. When you go into a sales call prepared and enthusiastic, you create your own mental confidence, imagining you've closed before you've even opened the door.
2. Get Smarter About Setbacks
Recreating your approach based on what you've learned gives you a better chance for success. This type of action teaches us how to work smarter and not give up on qualified opportunities.
3. Study Your Customer's Customer
When you are trying to learn critical information about your customer, you can learn more by trying to see though their eyes and understand their goals--and the goals of their customers. When you understand your customers' business challenges and goals, and understand how your solution can help them, you gain tremendous confidence in your own approach.
4. Create Your Own Change
There are certain universal truths that create positive changes in our attitude, confidence and behavior. One critical one: As you think, so shall you become.
Successful people have the confidence to take risks that unsuccessful people try to avoid. If you want confidence that stays strong in difficult situations, you need to change the ways you work and think.
I've learned that in any economy, getting in the door and closing business is a challenge when any of these
Five Fundamental Elements
are missing:
1. Passion and Enthusiasm
Enthusiasm is contagious; it affects everyone around you—including customers. It helps you through the rejections, objections, setbacks and everything else that affects attitude and approach.
2. A Solid Plan
Every day you need to have a clear map of activities laid out. Break down your yearly and monthly goals into daily activities, so I can track every activity (out of sight, out of mind).
3. Resiliency
People can sense your confidence level, whether high or low. Resiliency also improves when you focus on qualified accounts--and walk away from the ones where the return on investment is low.
4. Added Value ... at Every Step
Each time you make any type of follow-up call; make sure you have a new idea or information that will be valuable to the contact.—you should be focused on how you, your product and your company provide value to your customers.
5. Hard Work
One of the biggest reasons you break through the door: You earn it. Tenacity and hard work with a purpose wakes people up. "Hard Work" as one of the top 10 things they found most helpful; customers appreciate your 110 percent effort …it demonstrates how you feel about them and their business.
