The "R" word is being bantered about and it puts a lot of us small business people on edge.

After we spend time wringing our hands, complaining about this, that, the price of oil and Washington - nothing will have changed; only we'll be a little bit older. What, if anything, have you done to prepare your business? What we're seeing in the markets today is not a surprise. It's been brewing for a while.

One of the things I've done is to re-evaluate my business and marketing plan which has resulted in a narrowed focus. Yes, you heard me right, NARROWED. My budget is tighter, my clients' budgets are tigher and competition is fierce. Therefore, networking, advertising, promotional efforts need to do more for me with less resources. How? Instead of focusing on every small business out there, I am now narrowing my focus and targeting a particular business type or segment; specifically, professional women business owners between the ages of 40 and 55 living in the Greater Portland area and south to Boston/MetroWest and the North Shore, MA.

While geographically it may not sound like I have a narrow focus, the demographics and psychographics are narrow. My message, resources and marketing efforts are very concentrated.

Think of a huge search light. The light beam is very wide, bright and lights up a very large area. Now think of a laser. The beam is narrow and focused on a pin-point. The beam is so concentrated that it can cut through steal. I need my message to be so focused and concentrated that it will cut through the clutter and the competition out there.

Of course I do and will continue to have clients that fall outside the targeted niche. However, I am not directing marketing resources outside this niche.

While it does seem counterintuitive, less IS more. Narrow your focus and you may just increase your business.

The prospect finally returns your call - AND you have a meeting!! What did you say to get the appointment? Probably something along the lines of,

"We have some interesting services / products that I think can help reduce your turnaround time / increase your sales results / improve your profitability… ".
Great; appointment set; so far, so good. Now from here on out is where most of us get off course. Here is how it plays out for many of us:

Ms. Prospect invites us into her office and we share a few minutes of small talk – bonding and relating. The next few minutes we spend gathering a bit of information about the business, the operation and Ms. Prospect’s challenges. Then Ms. Prospect asks us about our “exciting service/product”.
“Yippee!”, we think. Ms. Prospect is anxious to hear about it! We spring into action. Our printed presentation / brochure / pamphlet comes out and we’re off and running. We introduce, describe and explain; Ms. Prospect asks and we answer; ask – answer; ask – answer, answer, answer.

The next thing we know an hour has gone by and we’re in our car heading back to the office. The best thing to come out of the meeting is Ms. Prospect invites us to “stay in touch”.

We went into this meeting with the plan of focusing on Ms. Prospect’s needs, on how our services / products can help her, on the benefits we / our product brings. So then what’s wrong with this sales call? Were we Ms. Prospect-focused? We had a friendly meeting and answered all Ms. Prospect’s questions telling her just what she wanted to know. …But did we, really?

Think about it. Were we really showing concern for her operation or her challenges? Did we come into the meeting already understanding something about Ms. Prospect’s business? Let’s face it, our main concern was being perceived as a nice, knowledgeable person with answers.

If you want to help your clients more, and therefore sell more, don’t focus on your service / product and don’t try to be so "proper". Yes, you should be courteous and polite, but your main job to figure out how to help Ms. Prospect find a solution to her challenges and improve her business, not to be her best friend. To do this you need to understand Ms. Prospect’s business almost as well as she does (perhaps better).

Don’t be shy, be BOLD. Do your homework so you understand Ms. Prospect’s goals, her critical business objectives, and key success targets; know her industry.

Armed with this knowledge it will be relatively simple to determine how your service / product fits into their operation. Learn about the problems that currently exist and then examine the value your service / product will bring. Equally important, examine and make known the consequences and costs of leaving things as they are.

Yeah, yeah, yeah; you don’t have the time to do this kind of prep work. I suggest you can’t afford to NOT do this type of prep work. Unless, and until you do, you may be able to present your service or product but you won’t understand your client's business. And until you understand your client’s business you can't speak to the value you bring to them. Having an intelligent discussion about the difference (value) your service or product can make (bring) to her business is what Ms. Prospect needs from you. Otherwise, you’re wasting her time.

I'm putting the finishing touches on a Sales Call Planning Guide which will be available for free on the Bold Vision Consulting Website. If you're interested in having one make sure you are on the BOLD Bulletin email list.

If you're located in the Waltham - Boston area, an Ocular Forum membership is being formed. The first meeting is scheduled for October 2. Applications for membership are due September 14. If interested send an email or call 207-221-3492 for more information. The application will be available for download on July 31.

Everyone wants to be rich. By that I mean we all want to live the lifestyle we want without worrying about finances, whether that means working at something we love or not having to “work” at all.

Because the lifestyle you want might be different from the lifestyle I want or the next person’s, what rich means to you, me and the next person differs. Therefore your strategy will be different from mine, theirs, etc. That being said, there are really only two basic tactics for growing wealth. Most of us entrepreneurs, especially those of us “knowledge” entrepreneurs, use a combination of both of them.

The Savings and Investment Strategy
This strategy is pretty simple. You make money and you save and invest as much as you can.

One way to think about it is to mentally divide the money you make – before paying any expenses - into three piles.

The first pile is is the largest and is for living expenses. This pile is about 75 to 80% of your income. You then need to live within your means. Yes, you can.

The second pile is for savings. This is 20 to 25% of your income until you build up long term savings equal to six months of living expenses. Yes, you can. Yes, this will take a while, but as entrepreneurs it’s critical to have that cushion for unexpected market or personal “bumps”. Then allow yourself a short-term savings stash. This money is for vacations, gifts and other things you can plan for.

After you have the 2nd pile full, the 20 to 25% (or more - as much as you can put away) of income goes into the third pile which is for investments. Income from investments stays in the investment fund; out-of-sight / out-of-mind.

The hardest part of the Savings and Investment Strategy for most people isn’t lack of cash flow – it’s lack of discipline. Yes, it's hard to save a huge chunk of your income. Few wealthy people will tell you it was fast and painless. The next time you hear yourself saying "just this once" or “it’s only $xxx” stop yourself and think, “Will this make me wealthy?”

The Product-ize Strategy
Most of us knowledge professionals sell services and we have to show up to make money. We can make good money, but we have to show up to do it. There is a limit to the number of hours we can put in and the number of clients we can physically see in a day. The product-ize strategy finds ways to create income streams that don't require us to show up.

Here's how one entrepreneur used this strategy. She made most of her income doing leadership training and coaching, primarily for small banks. She started developing information products for the people and organizations she trained. Therefore, her training was also her market research.

She now sells all kinds of products; a partial list includes books, e-books, forms, slide sets, training outlines, workbooks and reminder products. These were sold through various outlets but primarily online. Most of the income from sales of these information products and from licenses to reproduce these comes in whether she works or not.

The most difficult things about the Product-ize Strategy are: 1) setting aside time to develop the products and 2) Doing the separate work of marketing them. We're already so busy with our service business that it's difficult to set aside time and learning the additional expertise to pursue this strategy. But guess what this requires as well? Discipline. Funny how that word keeps popping up.

Action Steps
• If you're not saving regularly, take some time this week to analyze your current expenses and set aside something to save. Start with any amount. Getting started is the important thing. Discipline to continue and increase that amount is key.

• If you're already saving, find one way to increase the amount you put in investments.

• Based on your expertise, think about how you can “product-ize” your expertise. Decide on one information product that you can develop for your market.

• Produce an Action Plan - including specific tasks and dates for completion - for producing that product.

The Bold Business Roundtable is schedule for the first week of October. We will have three concurrent sessions the topics of which all focus on helping the small business professional and solo-preneur do better business and increase wealth. The Product-ize Strategy is one of the topics. To be sure you receive more information and to be included on the invitation list please sign up for our mailing list. More details will be available online at www.boldvisionconsulting.com by August 15.

Your marketing opportunities can be reduced by as much as 70% if you don't have a website; because your competitors do.

If you’re in business – you must have a website …period. Not only is it expected by your prospective (and existing) clients, a website is one of the easiest ways to expand your market.

Of those people with an internet connection; (and which of your prospective clients don’t have an internet connection – any?) of those with an internet connection over 70% research products and services online before making a call. Why?

1) No Pressure – There’s no one pressuring for a sale, no one asking questions and no one demanding personal information. People can browse at their leisure, 24 X 7.
2) Information – Generally, a website has more detailed information available than printed brochures or phone listings, including service descriptions, company information, pricing and additional resources.

That being said, a professional, quality website is not inexpensive. Even if you’re not ready for an interactive, e-commerce site and what you need is a basic, “brochure” site you’re still looking at an investment of $1,000 or better.

There are, however, ways to economize and working with a professional web firm is the way to do it. (Not working with your neighbor’s nephew who is “good with computers”.) Worse than having no website is having a poorly designed or poorly functioning site. Why?

1) If your site looks unprofessional – You look unprofessional – Your business looks unprofessional. That’s the way it is for everyone, everywhere. Make sure your site represents you and the quality of what you provide.
2) If your site is confusing or not functioning properly you’ll lose your prospects faster than you can say “Re-Boot”. Remember, a confused mind always says, “NO”.
3) You’ll be wasting your precious resources. Even a poor site takes time and money to manage and keep online. Think about it: You’ll be damaging your reputation, losing prospects AND paying for the privilege!

We small business owners have limited marketing budgets. Make sure you have a website before investing in any additional printed brochures. If you have a website, get a “check-up” and make sure it is working FOR you and not AGAINST you.

Two excellent “check-up” options (as well as great website design) are offered by my friends:

1) CS at Premiere Web Services – PWS offers a free-30 minute consultation on your site to start. After that they have website audit packages that include written reports of differing levels of detail showing everything from your traffic levels, usability statistics, keyword analysis and recommendations for content changes for better search engine placement.
2) Rich at flyte new media – Flyte offers a website audit where they provide specific advice on how to rank better at the search engines, usability issues and how to get more visitors to convert. Included in the audit is a 30 minute consultation meeting. Flyte also offers a small business web package for a professional, yet affordable beginner site.

If you don’t have a site, get one – a professional, quality site to represent you and your business well. If you have a site, be honest about it – is it an asset? If not, face reality – Be BOLD and do something about it.

Most mistakes that we leaders make come about from not facing reality. Bold Vision coaching programs and peer groups help business owners, entrepreneurs, and professionals face reality, initiate critical change to become more effective.

How compelling is your writing? Writing is a critical business skill. When you think about it, writing impacts every part of your business from marketing and advertising to client service, employee communications and contract negotiations. If your writing isn’t getting the message across in the right way you are either wasting your time, your money, your reputation or all three.

Even the most educated people tend to have lower reading levels. so unless you’re writing for an audience of English literature PhD.s a good rule of thumb is to write for an 8th grade reader. This doesn’t mean you should “dumb it down”; what it does mean is to keep your writing real; especially your marketing material.

Compelling content is generally written in the active voice. Compare these sentences:

“You will create an action strategy for success.”

to

“An action strategy for success will be created.”

Which sentence has the energy? Which has the action?

Compelling content is also short and concise and generally written for about an 8th grade reading level. Winston Churchill was known for his inspiring and compelling speeches, right? It is said that his speeches rated at a 5th or 6th grade level. Compare these sentences:

“War is hell.” - Winston Churchill

to

“Numerous horrific situations rage on in the combat overseas.” -I made this up.

You “get it” in Churchill’s 3-word sentence; concise, compelling. The second sentence sounds like it came from someone more interested in impressing the reader with their words that they are in communicating a message.

So, now for the cool thing: Microsoft Word has a readability tool that can help you improve the readability of your copy. In Word go to Tools - Options – Spelling & Grammar; Select “Check Grammar with Spelling box and check “Show Readability Statistics”. Now every time you run spell check a grammar box will come up with statistics. At the bottom of the box you’ll see the percentage of passive sentences and the Flesch-Kincaid grade level. For most marketing material the lower the percentage of passive sentences the better and a grade level, on average, somewhere between a 7 and 9.

Ways to improve your marketing is just one success topic we cover in our Ocular Forum groups. If you’re a small business owner and are tired of going it alone, get support on your road to success. We business owners don’t have the luxury of taking the summer off so the next Ocular Forum begins July 17th. For more information on the Ocular Forum or Bold Vision’s other programs go to www.ocularforum.com or call me at 207-221-3492. There are many Ocular Forum participants who would love to tell you their success stories!

Compel and be Be BOLD!

FYI – this article has 12% passive sentences and a grade level of 7.6.

Check out a past issue of the BOLD Bulletin, a free e-journal for business owners and professionals.

No matter how many times you hear that the more you can narrow your target market the better your marketing results will be – the concept still can seem counter intuitive. However, you can’t be all things to all people.

Sometimes what you don’t offer is more important that what you do. Those who try to be it all usually end up diluting their message and offering, winding up without a meaningful message at all. Take the recent Starbucks “brew”-ha-ha. Read the attached story in today’s MarketingProf.com.

At the end of the day, perhaps Starbuck’s trying to be all things to all people (instead of a great and comfortable place to get a great cup of coffee) is putting them on par with the Dunkin Donuts and McDonalds of the world; eggs and bacon at Starbuck’s? Ugh. Let me know what you think.

Know your customers, know your market, do what you do well and Be BOLD.

*************************

· Were your revenues up 30% last year?

· Did your company grow by 100% last year?

The BOLD Business Boot Camp - What seems impossible to achieve in you1r business - or life - IS possible. Take a holistic approach to planning. The BOLD Business Boot Camp is an 8-week quick-start course to get you on-track to achieving your objectives and having your best year yet.

With a vision, a proven process and support you will fundamentally transform your results not just once, but forever. The BOLD Business Boot Camp. Beginning April 25. For information go to call 207-221-3492 or go to www.boldvisionconsulting.com/events/BBBootcamp.php

"With your help I have achieved important things that I had not been able to achieve in the last 20 years of business!"

RISK – It’s the #1 reason that keeps people from making the decision to hire you.

Your prospects are risking that they’ll be making the wrong decision and they'll look stupid and waste a lot of money and then they'll get fired and their kids will go hungry - BESIDES!! You probably can't help them anyway!

It sounds pretty extreme, but things like this (most of it) DO go through your prospect's mind - especially if you're selling a fairly complex, fairly expensive service. The more you can do to reduce the perceived risk of doing business with you, the better your chances are of gaining more clients.

There are a number of things you can do ranging from providing a "sample" or free trial, all the way to a 100% money-back satisfaction guarantee.

As copywriter Michael Fortin mentions in his recent BLOG article, a guarantee has 3 purposes:

1. to communicate that the product or service has value
2. to make the buyer feel more at ease with their buying decision, and
3. to generate greater sales and profits.

Adding a guarantee increases sales because it also removes the risk from the buyer’s mind. It also increases perceived value and therefore overall confidence in your service or product and in YOU as well. You lose more sales than you realize by not offering a guarantee.

You know this story of 2 brothers. Read on and see how long it takes you until you get the "Ah-ha!" The two started a small business when they were in college to pay their tuition and other expenses. One worked the day shift and attended night classes while the other worked at night and went to school during the day.

After consistently losing money, after a year one brother sold his share of the business for an old car. The other persevered. In interviews Tom Monaghan said that, at the time, he wasn’t convinced his decision to put a guarantee on pizza delivery would change much. But history has proven his decision was indeed, on target.

“Pizza delivered fresh in 30 minutes or it’s free” - Domino’s Pizza became the multimillion-dollar franchise operation we know today.

The bottom line is that guarantees will increase sales. If you target your prospects effectively, if you are good at what you do and if you manage your clients' expectations, you’re leaving money on the table if you DON’T have a risk reversal policy. I guarantee it.

And remember - Be BOLD. It all starts with a vision - ...and ends with a guarantee.

Are you SERIOUS?
...about making 2007 your Best Year Yet? Spend one day (December 6) looking back, looking forward, looking inward. A holistic approach to business planning, Best Year Yet is a proven process that is the foundation of the BOLD Business program.

The Best Year Yet process will help you design your next year around what matters most. Join me for a day that will change your business and your life. December 6, 9:00 a.m. to 4:00 p.m. at the Cumberland Club. Space is limited and lunch will be served. Please RSVP in advance. $99

The Power of Vision
Someone once said we'd better pay attention to the future because that's where we're going to spend the rest of our lives. The Power of Vision - December 13.

Having a positive vision profoundly impacts our present and future. It works for nations; it works for organizations; it works for children and it works for you. Join me on December 13, 9:00 a.m. to 11:30 a.m. at the Cumberland Club in Portland, Maine. Space is limited so please RSVP in advance. $49

Visit our website for for information on other upcoming Bold Vision Consulting programs and to sign up for the BOLD Bulletin, a monthly e-journal for solo-preneurs and small business owners.

I received the following comment on last week's BLOG entry "Value is Value": 

“I've often tried to get away from the "what's my time worth" paradigm and into "what value can I deliver." However, how can I tactfully find out what a prospect's business is doing, how much they're paying for X, what the changes I'm suggesting might mean in actual dollars?”

This is a classic conundrum of all service professionals; what is the true value of the service to the client?  Furthermore, once you, the service professional, recognize the value your service will bring to the client's bottom line, you must communicate this to the client.  Again, it’s not what you think your service is worth – it’s what they think your service is worth.

The first thing you'll want to do is to direct the conversation AWAY from "The Solution". Solutions, in and of themselves, are commodities.  In fact, solutions in the discussion phase are not real solutions at all; they are intended solutions with no value at all.

What is a solution, you ask?  It’s whatever a client asks you for.   We want "….", Do you "….", We need something that can "…."           "......", that’s the solution. 

NOT talking about the solution is a tough thing – for you (and me) and the client.  Talking about the solution keeps the discussion in everyone’s comfort zone,  We know our product / solution; we know it upwards, downwards and sideways. Another thing, talking about the solution keeps us from having to ask difficult, sometimes uncomfortable questions.

Our clients, on the other hand, like talking about the solution because

1. It keeps the ball in your court and the onus on you to keep the discussion going.
2. The solution is their silver bullet.  The solution is the answer to their problems… or, is it?  What problems would those be exactly? And there-in lies your value. 

Here's a great quote that goes something like “No one needs a drill.  They need a hole in something.”  To determine the value of the drill - you need to understand the value of the hole.  You have to find out the issues and problems the client is experiencing by not having that hole and what those problems are costing them.  In turn, find out what will the client be able to achieve with the hole that they aren’t achieving now.

Being human, we all make decisions based on 1 of 2 needs; #1) to reap a a benefit - to bring us closer to a reward; or #2) to take away a pain we're experiencing.  Not everyone is motivated the same way so you need to know your client and what motivates them more - reward or relief of pain.

Consider this example: You're a web designer.  A common question / request you probably get goes something like, 

"Can you help me redesign my website?" 

Before you get lost in your sales spiel about how big and bad you are in the web design world and wax on about all the great sites you've designed.... (this would be the solution) redirect the conversation to the client's motivation for asking the question.

Here are 3 approaches you  might use to re-direct the conversation:

• Problem:  Can you help me redesign my website?

You: Yes, we have developed hundreds of websites for clients around the world. What results do you expect to achieve with a redesigned website that you’re not getting today?

• Problem: Can you help me redesign my website?

You: Yes, we have developed hundreds of websites for clients around the world.   It would help me if I better understood the issues you’re having with your current site that a redesigned site would address.

• Problem: Can you help me redesign my website?

You: Yes, we have developed hundreds of websites for clients around the world. What kinds of problems are you experiencing by not having an effectively designed website?

Most of us get certain questions and comments about our services fairly regularly, right?  "Do you .…. I need …..  Can you .…."  Take some time to write down the top 10 or so questions you get and write responses for each directing the conversation away from the solution.  Doing so will make it easier and more comfortable for you to uncover the client’s real issues as well as their motivation for making a decision.  This will lead you to the value your solution will bring.

Simple?  Yes.  Easy?  Of course not. If it were easy, we'd all be rich and famous.  It takes a real desire to help your client succeed, time, practice and …you guessed it.  Boldness.  Be BOLD. 

If you like this article you’ll like the BOLD Bulletin, my monthly e-journal for solo-preneurs and small business owners.  Subscribe here and receive your issue of the BOLD Bulletin in your inbox on or around the 15^th of each month.  You email address will NOT be sold, shared, given away or abused. 

Developing a reputation as an expert in your field of practice is critical in establishing a trusting and solid relationship with your clients.  Promotion Action is a series of 6 workshops developed specifically for the service professional to help give them the information of how and the coaching to implement a process to become recognized as the go-to person in their area of expertise. 

Promotion Action is a program delivered on site, in Portland, Maine beginning November 7th and via teleconference beginning November 9th.  A free introduction telecall is tentatively scheduled for October 31st. For more information please go to www.promotionaction.com or call Bold Vision Consulting at 207-221-3492 for more information. 

Lesson Learned: For those of you who notice that I’m a week off schedule getting this new article posted, forgive the delay. For those of you who did not notice, I’m going to work harder… so next time I'm late, (however, I’m going to do my best so that there isn’t a next time) you’ll notice.

Referencing my last article, "Are You an Expert", let’s continue the discussion. What can you do so prospective more clients seek YOU out, virtually eliminating the time you have to spend cold calling.

Remember in the last article, I asked you to name a home improvement specialist … Bob Villa? Why did his name come to mind? Because you’ve read articles they’ve written, you’ve seen them speaking about their subject, you’ve read articles written by others about them … You recognize them as an expert in their field.

If you want to raise yourself above the crowd of competitors and be recognized as an expert at what you do so clients seek you out, try implementing a solid self-promotion effort. There are a number of things you can do, but to get started, build a solid promotion “foundation”. As you get this underway and working you can then build from there. To build a good foundation to your promotion plan you will want to:

1. Get Published – Whether for a magazine, newspaper trade journal or your BLOG, writing articles is one of the first and most important steps to positioning yourself as an expert. I write a bi-weekly (most months!) BLOG article here, for MaineToday.com. I'll also be "officially" launching a Bold Business BLOG on my own website next month. I am surprised at the feedback I’ve received from the articles I’ve posted. Not only do local Maine people contact me but I’ve received emails from as far away as Novosibirsk, Siberia, Russia.

2. Get on the Speaking Circuit – Unlike articles, which can feel somewhat removed, speaking gets you up close and personal with prospective clients. Here I am talking to you all and most of you are even awake!

You can be perceived as an expert by simply standing at the front of the room. You're there, they're not. Speaking engagements also give direct feedback and recognition. If your talk is good, your credibility is established instantly; the impression you make speaking is immediate and powerful.

3. Dynamic Networking – notice it isn’t just ‘networking’. Most people think of networking as attending a Chamber After Hours, having a glass of wine chatting with a couple of people and going home – period, the end. Networking isn’t a party, it’s a strategy to meet and get to know people, develop trusting relationships and make connections as often as you can for others. It’s about farming, not hunting. You attend networking events to plant seeds for future harvests, not hunt down and bag a client.

4. Stay in Touch / Follow Up – After you invest the valuable time and effort in the above, you meet people, develop contacts, gather intelligence about potential projects or clients …then what? You would be surprised how few of you actually follow up and take the next step. It’s important to stay in contact with the people that don’t need your service right now. Send them a “nice to meet you”, “saw this article” note, etc. BTW – how many hand written notes have you received lately? You would remember receiving a hand written note, wouldn’t you? You’d remember who sent it, wouldn’t you? Alrighty then. There you go.

These are four basic components to a solid self-promotion plan. Other promotional activities to consider include:

• Engaging PR and the Media
• Leveraging your web presence for more than an online brochure i.e.
--o E-zine (sign up for mine on my website)
--o BLOG (here and on my site is coming soon.)
--o PodCast (still working on this for launch in the 4th quarter)
• Seminar and Workshops
--o Teleclass (Promotion Action from the comfort of your own phone - via teleconference in August)
• Traditional Advertising and the Professional -There IS a role.

It’s not enough if you ARE an expert. You have to be RECOGNIZED as an expert. As the last article noted, you can keep on doing what you’re doing, wait and hope it happens -OR- you can take ACTION and Make It Happen!

Happy Promoting! And remember …Be BOLD. It’s about success and making it happen – and it all starts with a Bold Vision.

All of the topics covered in this article, and more, will be addressed in Bold Vision Consulting's Promotion Action program. On June 29 (DATE FIRM) Bold Vision Consulting will begin offering the 1st of a 2-Series program “Promotion Action - Attract More Clients than You Can Handle by Becoming Recognized as an Expert in Your Field” exclusively for Professionals whose business IS their expertise. Service Professionals interested in more information check out www.PromotionAction.com. This program will be available via teleclass in August. Send an email to info@boldvisionconsulting.com if you would like to be kept updated on this program.

An Ocular Forum introductory meeting is being scheduled for early August. If you are interested in learning more about how you can leverage the experience and success of others and fast forward your business growth, plan on coming to this informative meeting, talk to other Ocular Forum participants to learn about the program and hear their stories of success.

A Bold Business Intensive workshop is being scheduled for late July or August. For more information on BOLD Business, go to www.boldvisionconsulting.com

So many of us struggle to keep the phone ringing and the money coming in. We network, network, network. We give out our business cards, our brochures and we mail out postcards and flyers and we even (gasp!) resort to cold calling when we must.

Let’s face it; there an abundance of us competing for the same clients. We self-employed pay a cost for our freedom of “being our own boss” which can be inconsistent workflow, unpredictable cash flow and long and stressful work hours.

For others it's a different story. Clients stand in line, wait days-weeks-or even months or longer, to do business with these “lucky” professionals. Not only are their clients willing to wait and do business on their terms, clients are also willing to pay top dollar fees.

So, what’s the DEAL?
Why would one professional be busy and in high demand, receive top dollar for their services while others struggle month after month? Because professional #1 is recognized by the marketplace as an expert in their field; the others are not.

Try this exercise –Who do you think of – the first name that pops into your head when I ask you to name a….

Home Improvement Expert

Bob Villa ? Funny, he’s been off the TV for years and years – yet he’s the name most people still mention.

How about a ….

Sex Expert

Dr. Ruth, right?

And why do we think of these people? Because you’ve seen or heard them in public, on TV on the radio talking about their subject; you’ve read articles they’ve written, you’ve heard stories and read articles about them that other, 3rd parties have written … You recognize them as an expert in their field.

Expert is defined as “Someone with a high degree of skill or knowledge of a certain subject.” The definition is not someone that knows more than anyone else, ever-ever-ever, of a certain subject.

Are you someone who has a high degree of skill or knowledge about your my field or some specific area of your field? If you answer “No.” you will want to look into getting some more education and/or training. If you answered, “Yes.” then you’re an expert. You just need to be recognized as such.

It is important to recognize the fact that the world of business is “expert-driven”. It takes discipline and dedication to make the investment in your success. It takes perseverance to maintain a focus on your ultimate goal and not be sidetracked by short term obstacles or impatience.

So how does one become recognized as an expert?
1. The old fashioned way – over a long period of time. A bevy of happy clients who talk to their friends and family and spread the word you can grow your reputation organically. It will take a good deal of time but if you’re consistent with good service and have happy clients, this will help establish your reputation as an expert.

OR

2. You can document and implement a multi-level plan of self promotion, your objective being raising your target market’s awareness of your expertise, as opposed to directly promoting the actual service you provide. It’s a subtle difference but significant. This is especially productive for a profession that would prefer or legally cannot directly advertise, such as doctors and lawyers.

There are a number of promotional activities to focus on and, depending on your area of expertise, your target market, your personal preferences, etc. you’ll include a number of different activities in your plan. Next week I’ll go into a little detail on 4 of the basics that should be in everyone’s promotion plan.

If you would like an advance copy just send me an email. I’m putting the finishing touches on it and soon it will be on my website.

Happy Promoting! And remember …Be BOLD. It’s about success and making it happen – and it all starts with a Bold Vision.

On June 29 (DATE FIRM) Bold Vision Consulting will begin offering the 1st of a 2-Series program “Promotion Action Plan - Attract More Clients than You Can Handle With Less Effort by Becoming Recognized as an Expert in Your Field” exclusively for Professionals whose business is their expertise. Independent Service Professionals interested in more information please email info@boldvisionconsulting.com.

Bold Vision Business Intensive program will be launched in July or August. The Business Intensive program is a series of 8 90-minute classes. Two programs will be launched; one that will meet in person (South Portland, ME) and one that meets via teleconference. For more information send an email to info@boldvisionconsulting.com.

Imagine this. You’re driving down Route 1. You’re passing field after field, many of which are dotted with black, white, and brown cows. (I know, I know. There aren’t that many cow fields on Route 1, but stay with me on this. There’s a point.) So you’re passing all these black, white and brown cows and then, all of the sudden, you spot the most remarkable cow that you’ve ever seen – a PURPLE cow!

Well, you stop your car to take a closer look. You get out your camera and take a few photos. You call your friends on your cell phone and tell them “You’re not going to believe what I’m looking at right now.” When you get home, you make an entry about the cow in your BLOG and you send a few emails out to friends 'from away'. You want to let them know there's more to Maine than lobsters. And so on…

In other words, you become a one-person marketing machine and sales force for the “purple cow experience.” And you convince a good number of your friends, near and far, to get in their cars and go take a look.

So, what in the world do purple cows have to do with your business? Absolutely nothing. But, being purple – or, more specifically, remarkable – has everything to do with what you do in your business.

This basic idea is the subject of Seth Godin’s simple book, Purple Cow: Transform Your Business by Being Remarkable. In the book, he describes how being remarkable – with your service, product, business model, employee relations, etc. – isn’t a ‘nice to have’, but a necessity to survive. The remarkable factor should be built into and a part of everything you do.

Admittedly, being remarkable is not a particularly original idea in the business world. However, the purple cow parable provides an easily remembered visual for communicating the marketing power of a remarkable business. Remarkable businesses – like purple cows – sell themselves.

Here’s an example of a remarkable business here in Maine: L.L Bean: You can return an item for any reason at any time – period. 1 day after purchase or 10 years. They don’t care; they want you to be happy. AND the Freeport flagship store never closes. They’re open 24 hours a day; 7 days a week; 365 days a year – period. They don’t even have locks on any of the doors in Freeport! Now that’s remarkable. (Besides the quality of the merchandise is good, the prices are reasonable and the people are pleasant and sincerely helpful. Now that’s remarkable.)

So, in what ways is your business remarkable? In what ways could it be remarkable? And, most importantly, what will you do to make that happen? No one will do it for you.

Until next time, Think Big and Be Bold. It all starts with a vision.

Doing research for a new course I'm developing, I ran across a statistic you may find exceptional. We all tend to be so focused on building our client base, getting new business in the door. Knowing that 75% of your business success is determined by your existing clients may give you pause to think about your marketing strategy.

According to Ross Reck, author of “Turn Your Customers Into Your Sales Force”, 25% of our success in business is based on getting a sale from a new client. (Reck uses the term ‘customer’, but, in today’s marketplace we have clients, not customers if we know what’s good for us.)

The other 75% of our business is determined by our existing clients.

25% from repeat business from existing clients; and 50% (yes, 5-0) of our success comes from existing clients recommending and promoting us to their friends, associates and family.

This may not apply so dramatically in every industry, but for service and consumer related businesses it is especially true.

What percentage of your marketing resources, time and dollars, are you allocating to client service? Or, do you even have a budgeted amount for client service at all? If not, you will be well served to reconsider.

One thing you can do right away without any financial outlay is to implement a “Go the extra mile” procedure. I call it this based on Napoleon Hill’s 8th Law of Success, “The Habit of Doing More Than Paid For”. This isn’t talking about giving away the shop, but it is talking about doing more and doing better than what your client expects; you go the extra mile for them.

For example: You have a dry cleaning business and you offer free pick up and delivery service. Let’s say you have a specific time range for your pick up and delivery – 8:00 a.m. to 11:00 a.m. Your delivery truck breaks down and you aren’t going to be on the road until after 11:00. The extra mile would be to call your clients to tell them! Let them know what happened; that you'll be late and when they can expect to receive their cleaning.

Is getting their dry cleaning late a major issue for your clients? Perhaps, if there’s a special occasion, but probably not. But don’t you think getting a call from you just to let them know about the delay would be nice? Don’t you think they would appreciate it and remember the special effort you took to keep them informed? Necessary? No. Important? Yes. The next time someone asks them about dry cleaning, don't you think they would say something like "You should try _(your name here)_dry cleaners. I use them and they're great."

I came across another article on the same issue, the importance of your clients being your best sales force. The angle this author, Graham McGregor, took was based on using psychology; more specifically, using the “principal of reciprocation”; reciprocation meaning “to mutually give and take” – or – the “you scratch my back, I’ll scratch yours” principal. McGregor called what I mentioned earlier as the “Going the Extra Mile” procedure as "doing your clients ‘favors’". Excuse me? That’s a really egotistical (and expensive) way to look at it, if you ask me. Giving your client the consideration of a phone call, a favor? Mr. McGregor needs to go back to Client Service 101, he seems to have not gotten "it".

The principal of reciprocation is a powerful tool you can use in marketing and I will write more about this in a later BLOG. However, giving a client good service, going the extra mile, shouldn’t be considered doing them a favor; not if 75% of your business success is dependent on them being happy enough with you with buy more from you and to refer others to you.

That’s my opinion. Let me know what you think about this and what you do to keep that 75% of your business strong & successful - and your clients coming back for more.

And don’t forget – you have to BE BOLD in business! Take charge and make it happen. It all starts with a vision.

So, you need to build your business, make more sales, and increase your revenues. It’s universal; what business person doesn’t? I know I said this article would be about using workshops &/or seminar as a sales and marketing tool. However, I've had so many people mention their frustration with the state of business recently, I felt a need to address this point now. I'll follow up with a second article on Friday about the workshops. Until then...

Did you know that one of the most effective, easiest and least expensive things you can do to accomplish all of these is also one of the most overlooked sales activities?

Follow-up. Yes, FOLLOW-UP!

How many networking events, client meetings, etc., have you attended where you made solid contact with someone that is a candidate for your services or products? They may not have run at you with their check book, but they fit your “good client” profile. What did you do? Trade business cards, chit-chat and then… what? You took all those business cards you collected back to your office and added them to the box, the folder, the heaping pile of other cards from other events….. If you’re really good you may have actually entered the prospect’s information into a contact database. But, do you have a process in place to follow up with these people, especially those who weren’t ready to write you a check on the spot?

A successful sales person has a process – an order taker does not.

For example: In the early to mid-‘80s Fidelity and Vanguard funds were THE 401(k) provider of choice. This was, in large part, because Fidelity and Vanguard started the “bundled 401(k) program” by including all the participant recordkeeping, compliance and administrative services for “free” if their funds were the plan’s exclusive investments options. For the next decade, Fidelity and Vanguard needed “order takers” to sign up new clients; people who understood business and 401(k) programs. There was no selling involved. Their “sales” reps were fielding calls left and right and if they didn’t follow up on an inquiry, there would be ten other calls coming in the next minute. Ah, those were the days…

Alas, things change. Fidelity and Vanguard are still leaders in the mutual fund industry today. They are not, however, the only game in town any more. Fidelity and Vanguard actually have to sell their services these days; they have to differentiate themselves, articulate the benefits unique to their investment philosophy and yes; they are even known to negotiate on price now and again.

If you’re business is not the only game in town and responses to your audio logo or elevator pitch don’t normally include “Yes! That is exactly what I need; how much?”, I guarantee you can increase your business significantly by just following up correctly.

Selling is all about trust and relationships. When you follow up it is important to:

• Be consistent. Follow up is a process. It isn’t a single call. You want to develop an ongoing and positive relationship with your target market. You and your business should be first-in-mind when the need for your product or service arises. Consistency is the key here.
In addition, follow up isn’t just for prospects. For most companies, developing new business with existing clients costs less than half of what it costs to win new clients. Don’t forget your current customers!

• Be genuine. People like to do business with people they like and trust. Get to know your client and prospect and develop an understanding of the issues and challenges they face. Don’t try to be something you’re not and don’t misrepresent your product or service. This might sound like a no-brainer, but even the slightest omission or exaggeration can kill a relationship.

• Focus on adding value, not on closing the sale. Follow-up doesn’t mean ‘close the sale’. You follow up to stay in touch, provide information and develop the relationship. Doing all of these things will bring you closer to closing the sale, but you and your prospect will arrive at that point together; you won’t be dragging them there. Going for a ‘close’ before your prospect or client is ready is one of the biggest mistakes small business owners and sales people can make.

For all of you self employed and small business owners who hate to sell, you will see your business increase if you’ll just follow up according to these 3 principals. If you haven’t already, it’s important that you invest in a database; a single, computer/PDA-type repository of all your customer / prospect information (name, contact and business information, past call reports/communications, specific interests, etc.) ACT!, Goldmine and Outlook are three well- known contact databases out there. As your client and prospect lists grow, you’ll be thankful you made the investment in a quality contact database AND in learning to use it!

If you do nothing else to improve your sales and business growth this year, show a genuine interest in your prospects and clients through consistent follow up with a focus on helping them find solutions to the challenges and issues they face. You will see your business take off.

Yea, yea, I know you’ve heard this before – but you know what? IT IS TRUE.

Nothing about business today is “as usual” and you shouldn’t invest any of your hard-earned money or valuable time on anything “off the cuff”. Developing new business is no exception. You need a plan.

First, there's a result you’re looking for; what is it? Without having a clear purpose in mind, the reason you’re going through the effort and expense, how will you know if the money and time you invested was worth it? You say you’ll “know”? You’ll “feel it”? Wrong.

Follow these 6 steps for any project or goal you have and you’ll not only have a good plan, but you’ll see the results you want, too. Isn’t that what it’s all about?

1. Why: Define your goal(s). What is the outcome you want? It’s important to be S.M.A.R.T. here. (25 new clients in October, $7,500 in new revenue by the end of the year, 20% increase in sales in 2006, etc.)

(Make sure any goal you set is S.M.A.R.T. – Specific, Measurable, Achievable, Realistic, Time-bound)

2. What: What programs (i.e. promotions, speaking engagements, workshops, etc.) will you use to achieve the above results? Let’s say you own a small café. Yes, you could advertise in the local paper or magazine, but so do most of your competitors. Other ideas that you can implement with or perhaps in place of traditional advertising might be: Participating in a fundraising “Cook-off”; join forces with a local gourmet store and offer one, or a series, of cooking lessons; write a cook book, etc.

3. Who & When: Create an action plan. Who’s going to do what when? Make sure you complete your plan including a timeline and “champion” for each step. A champion is the individual responsible for accomplishing that action step. They may not be the actual person to DO the task, but they have the responsibility to make sure the task is completed.

4. Now do it. Execute. Put your plan into action. Nothing happens if nothing happens – get it? A tip for you on this one. Eliminate the words “Yea, but….” from your vocabulary. “Yea, but my key sales person quit….” “Yea, but traffic was way down because of the gas prices….” “Yea, but …” blah, blah, blah. You’re in business. Make your plan based on what is best for your business and execute the plan.

5. Review the results as you go along, make adjustments as needed, resume. Nothing is set in stone. If the situation changes, adjust your plan accordingly. HOWEVER, don’t make major changes mid-stream unless something major has happened to warrant it. Be disciplined and stick with the plan, but use your gut and common sense. Don’t lose sight of your goal.

6. Celebrate! When you see success, even little victories along the way, celebrate. Let’s face it; you know marketing and advertising is a long-term effort. Chances are you won't see breakthrough results over night. It can be discouraging spending so much time and effort and not seeing an avalanche of new business right away. It’s important to Trust the process and Celebrate progress . Acknowledge little successes along the way.

Remember, having a plan is critical, but it’s about more than planning. It’s about you, your determination, your perseverance and your passion to succeed. Put it all together and you’ll get the results you need to compete and thrive in your marketplace.

Next week: Workshops & Seminars as a marketing tool.