Roast or Toast?

This is not about meat and two veg done in the oven v. a slice of bread under the rack it is, instead, a humorous variation on introducing a speaker. 

There is an art and a time restraint on any Roasting activity.  Like any short speech you need to prepare.  Make a list of the most intriguing and unique accomplishments or characteristics of the speaker you are to introduce.  Prepare an introduction that flows from one thought to another, including the tall story or exaggerating idiosyncrasies with a semi-serious demeanour. 

Whatever you do say, make sure you include a pause to affect the audience’s digestion of your jovial intent.

Top tip – have fun whilst you are Roasting, but not at the speakers expense.  They will always get you back!  Remember that; they are speaking next!

http://www.youtube.com/watch?v=WJmKStqugMc

Please Rise for Rose!

I heard today that Jonathan Rose has died.  I feel quite shocked and just a little wobbly.

He was a remarkable networker and founder of the popular Carrington Club in Bournemouth.  He was larger than life and as Debbie Tarrier put it on her FB profile, very much the Marmite man.  I’m pretty sure he’d have liked that description.  Marmite or not, most will concur that the network circuit will be significantly lighter without his presence. 

 What I appreciated most about Jonathan was his uncanny ability to make appropriate connections/relationships for his clients. Isn’t that; the epitome of what networking is all about?

 Sleep well Jonathan.

Champions – who do they know …

It goes with out staying that this is the tune to listen to with this Blog post http://www.youtube.com/watch?v=xdCrZfTkG1c&feature=related

The most important thing you can do when you are looking for clients is to find your champion. That is someone who will introduce and preferably recommend your abilities. These can be anyone in your current network that understands what you deliver and what you stand for.

Obtaining introductions to those you want to do business with is a time consuming and often disheartening activity. Cold calling is much, much colder without the endorsement of someone who knows, likes and trusts you already.

If and when you do get a lead from someone you know – contact that someone before you contact the lead. Firstly, thank them for the lead – it will encourage them to do more. Secondly, find out as much about the lead as you can. Fill out the client profile: who are they, are they the decision maker, what’s their need, how soon do they want to by and what sort of budget can you expect? These four things are really important to know before you call.

Your champions can come from many places. Some will be from your current business networks, others from the colleagues of a previous employment, some from university, college or school. There maybe others from your church perhaps or social clubs perhaps. One of the best tools to develop a champion base is through LinkedIn.

With thanks to John Perrin for the inspiration http://www.tacticalsalestraining.co.uk/

Readability Stats 7.7

Silence is Deafening!

I often get accused of being silent. In another dimension my team accused me of being manipulative with my silence – especially when they came to me with a problem to solve. What they didn’t really get was that I am a reflective thinker. And therefore, need some time to assimilate the information that was given to me, before either asking for further clarification or determining a course of action.

However uncomfortable that pause for thought was for them, it was very important to me. Over the years the team came to recognise that there is more than one option for action. And even when they had identified two there was, quite often, a third that had not yet been considered. More often than not, this was a middle ground that saved face on both sides of the dilemma!

Perhaps silence is instead golden http://www.youtube.com/watch?v=n03g8nsaBro&feature=fvsr

Readability statistics 8.1

A Minute to Win It!

A minute to win it …. One of the most commonly used tools cited on the networking circuit is the one minute elevator pitch.  Hands up if you’ve heard that?  The premise is that … should you be lucky enough to jump in a lift with Richard Branson and he asks you what you do.  You are able explain explicitly, all the benefits you deliver with your offer  …  by the time he gets out on the next floor.

It is my opinion that one of the biggest misconceptions floating around the business networking circuit is the importance of the one minute elevator pitch. 

Let’s just say that you DID get into a lift with Richard Branson, I’m hazarding a guess here but the chances are going to be 64,000,000 to one … at least.  Let’s say that he did ask a stranger what he did for a living?  And let’s say you weren’t so tongue tied that you could get out a response.  Why on earth would he need what you have to offer from someone he’d just met in a lift?

We network from the moment we first step over the school ground threshold.  Think about the people Richard may still know from way back then.  Now I can’t say what Richard’s connections look like but this is simple version of mine.

I have school friends that I have known for 37 years and we still meet up every year.  I have colleagues that I’m still in contact with from the seven companies I have worked for.  On average I got to know these people over a period of three to five years.  I have family – immediate and extended and whilst I’ve only known my parents for the 48 years I’ve been alive I’ve know the others for better or worse from anywhere between two to 48 years.  Then I have my social networks; I dance, I play golf and I attend Casterbridge Speakers.   These people I’ve known from between two months and perhaps 20 years.

Of all those contacts none has been won in a minute!  So what about you? What about your family, your work or social clubs?  I suggest that like mine; none has been won in a minute.

Let me share three strategies and six top tips that will remind you how you do connect for success.

The first is to share tokens.  That’s little bits of information about yourself that help people connect with you.  Only tell people things you are happy for them to know about yourself; but make it interesting.  So if you are asked where you’ve come from.  Reply with something extra like I’m moved nearWeymouth13 years ago.  You can see the white horse on the hill from my bedroom window.  I’ve often walked myLabradorsover the Ridgeway.  During this reply I have offered three hooks that invite further questions …

The second tip from this strategy is be curious.  Ask questions to get others to give you as many tokens back.  The more you find out the more you will find you have something in common.  Common ground is the foundation of the long term relationship.

Strategy number two is to remember their names!  Dale Carnegie in his book How to Win Friends and Influence People illustrated the importance of people’s names to them.

The first tip is to look them in the eye, keep your attention on them and how they look and you’ll remember … their face.  The second tip is to use their name at least three times during your conversation and you’ll remember both.

So tell me Brian Bull … Where have you come from tonight? 

Brian! That’s so interesting.  I have aLabradortoo!  Where else do you take your dogs?

Great to have met you Brian – I’ll give you a call to take the dogs over the downs next week sometime.

Strategy no three is to build bonds.  To keep your network connected with you, you need to keep touching them and introducing them to others within your network.  The following tips are the least likely to get done but are the most powerful. 

Seven years ago I met a girl called Alison Curtis who had a problem with her wodge of lists of things to do – I sent her an article on ‘The Flaws of Listitus’.  From there we connected immediately.  Then as I got to know Alison better, I thought about where she fitted into my network of contacts.  Who could I connect with Alison, who would she like, who could she help, who might help her? 

In just a few words we’ve considered three key powerful strategies:  Share tokens, Remember names, Build the bonds.  Powerful they are but not outwith your current knowledge or capabilities.  At the beginning we’ve looked at how we already have a network of contacts.  You already know how to build them.  I’ve shared a number of hints and tips to act as a gentle reminder. 

The one minute introduction does have a place in business to business networking but only if it is integrated as part of the power of these three strategies. 

 A minute to win it – don’t think so – do you?

Reading ease 5.8

Breathe!

I was asked a month or so ago for a top tip on overcoming nerves when speaking in public.  I immediately responded with a one word quip … “breathe”. http://www.youtube.com/watch?v=Bb7S8-Iewi0

Then I thought about it!

Apart from it being essential to life, a good belly breath in and a good belly breath out centres your body and helps to anchor your mind.  It adds quality to your voice projection.  For maximum control of your breathing stand straight, knees slightly flexed, head straight and shoulders back.  The deep breath allows you to project your voice to the back of the room.

When you breathe steadily you maintain control of what you are delivering. This has a calming effect on the listener. It allows the audience to take in what you have just said.  What’s more, a pause for breath will save you from uttering an irritating um or err or stammer.

It is easier to breathe when you use short sentences.  Grammatically when you write you add in commas, semi colons, colons and points to indicate an intake of breath.  When you converse you tend to do it in short sentences combined with linked words such as and or but.  In public speaking short sentences that are not linked deliver a much more powerful message.  The audience imagines the linking words.

We only need to watch The King’s Speech to recognise the power of the short sentence and the pause for breath.  This is the effect!  This is King George’s Real Speech. http://www.youtube.com/watch?v=opkMyKGx7TQ&feature=related

Prospecting for Gold

If gold could be found lying on the surface, everyone would pick it up. The fact is that you need to dig for it, sometimes deeper than you may want to. The same is true whether prospecting for gold or for new business.  

There are two kinds of people in the world; there are those who follow the daily patterns and wait for things to happen and there are those who go out and make things happen. It’s the proactive prospector that gets the most. 

A few interesting facts about people that sell. 

• •          48% of sales people never follow up with a prospect
• •          25% make a second contact and stop
• •          12% make 3 contacts
• •          10% make more than 3 contacts

 

And a few more interesting facts about people that buy. 

• •          2% of sales are made on the first contact
• •          3% second
• •          5% third
• •          10% fourth
• •          80% take between 5 and 12 contacts

 

80% of sales take place after the client has been touched between 5-12 times.  The follow up is essential. 

The breakdown of the typical sales person’s activities is to spend 10% of time prospecting, 15% on face to face meetings, 20% of time on account management and a whopping 55% on administration.  Whilst a top performing sales person will spend 50% of their time prospecting, 20% in face to face meetings with only 5% if time spent in account management and only 25% on boring old admin!

Prospecting is the life blood of sales

So the top sales person spends 50% of their time prospecting – what does that mean?   

Cold calling? Networking? Talks/seminars? Targeted mailings? Newsletters? Walk ins? Social media?

Referrals? Ad hoc prospecting opportunities?

Yes it does mean all of the above – all those proactive things we are less inclined to do, preferring instead passive vehicles for lead generation:  Trade shows, Websites, Advertising, Sponsorship, Untargeted mailings, Social media, Referrals. 

Formula for Prospecting Success

So how do we stop procrastinating on the administration chores and spend more time sifting for that gold?  The formula is a combination of: 

• Technique – your strategy, your preparation and your focus.
• Behaviour – your goals, your plans and the action you take.
• Attitude – your confidence, your outlook and your responsibility.

 

Choosing the most appropriate prospecting method depends on your business, whether your clients are few or many; whether you or your company is a leader in the field or relatively unknown and how big your current contact base is.  Your choice will also depend on your attitude, application and skill.  If you have a phobia for cold calling then double your efforts in another area for direct prospecting as, you just aren’t going to cold call well.   

Success rates for prospecting

Cold calling        3%         167 calls

Direct mail          5%         100 mails

Email campaign 2%         250 emails

Referrals            20-50%   10 -25 referrals

Networking        15%        Meet 35 people

Trade show        10%        Meet 50 people 

The power of the referral

Did you notice how high the success rate is for referral prospecting?  If you said to each and every client ‘I hope you don’t mind me asking but I grow my business through referrals, do you know of anyone who would also benefit from what I have done for you?’  If you haven’t been asking your delighted clients for referrals consider multiplying the number of delighted clients you have by your average sale.  That is how much you’ve been leaving on the table each time. 

Changing behaviour

You can’t manage yourself if you don’t measure your performance.  You do need to know some statstics in relation to your pipeline sales: 

What is your average sales value?

How many sales do you need to secure each month to meet your desired income?

What is the average number of meetings you have before a prospect becomes a client?

How many times do you touch a prospect before you get a meeting?

How many contacts convert into prospects?

How many new contacts do you need to add to your data base to meet your monthly target?

When you know how many contacts you need you can start to work out what you need to do to fill your pipeline.   

Once you have identified your chosen methods for prospecting transfer the activities into a weekly planner which allows you to track your progress. 

After all, you cannot fail at prospecting unless you fail to prospect!

With thanks to Alistair Powell of Sandler Training for his ideas and inspiration from today’s BXC presentation.

The Road to Gelidonya

Yassassin is Turkish for ‘have a long life’ this Bowie tune works really well with the following story.

There is a lighthouse at Gelidonya on the Mediterranean coast of Turkey …. Allegedly!  On the last day of the summer, we decided to visit it. Despite carefully planning the route on the road map; the long, rocky car ride led to a complete a dead end.  Not a single lighthouse was to be seen, indeed.  http://www.flickr.com/photos/canmom/4147329936/

The road to Gelidonya has since become our metaphor for getting nowhere slowly (and arduously).  Sure there were flashes of fun that peppered the route – a panoramic vista, a couple of frolicking mounting goats, a dip in the sea, a picnic lunch but the rest of the ride was no more than a dusty chore.  

In our working lives we are often told to have a goal or a destination to aim for.  When do you decide that enough is enough and it’s time to change direction or just stop off and enjoy where you are now?  Despite having a worthwhile destination this was one of those journeys where a detour off the chosen path may have been more fruitful.  Moreover a change of route may have found us in the place where we wanted to be after all.  Some times all the planning in the world doesn’t get you to there. 

I love this quote from Jon Bon Jovi … Map out your future, but do it in pencil. 

How about you?  Do you have any Road to Gelidonya stories to share?

Decisions, Decisions! Yes or No?

We make decisions every moment of our lives from getting up in the morning to what to wear and whether to come to a brilliant BXC meeting or not.  But some decisions are more important to our business than others.

A couple of questions to get you thinking:  What was the worst business decision you ever made?  What did it cost you?  And what was the best business decision you ever made? What rewards did it bring you?

Consulting group Cap Gemini interviewed 270 senior managers reporting to the boards of companies with turnovers of more than £200 million a year for its ‘Business Decisiveness Report’.  They found that while each makes an average of 20 “business critical” decisions each year, or roughly once a fortnight, 24 per cent of these are – by their own admission – wrong. Bad decisions cost Britain dear

The nature of these decisions varied, but on average, one in four of those surveyed made more than ten decisions a year about location or status of their organisation’s operations or workforce, while more than a third made in excess of ten decisions a year about business direction or strategy.  The report calculates that each decision is worth £167,267, putting the cost of each year’s mistakes at some £800,000 per person per year. 

It puts considering the consequences of your decisions into perspective doesn’t it?  Whenever one mentions an idea is ‘a no brainer’, it has to be asked whether it is indeed.  This cliché disrespects the power of the brain. 

Did you know that we have 1,000,000,000,000 brain cells?  They control 7 trillion cells of the body and we use about 5% of our brain capacity on average.  The number of internal maps of thought a brain is capable of producing is 1 followed by 10.5 million kilometres of standard typewritten zeros (11pt) and it would take a scientist 132 years to count the impulses in the brain generated in one thought process!

We need to be fair to our brain to make sure we give it the fighting chance it needs to make good decisions.  Keep it fed watered and rested.  Whilst we can use our head to determine a course of action we should also balance that with what our heart or our gut tells us too. 

Robert S Hartman identified the relationship of values to judgement.  There are 34 factors involved in making a decision and from it the Judgement Index was subsequently created.  Hartman asserted that The quality of outcome is determined by competent skill sets + competent processes + good information X  good judgment.

Today we have a look at three of the factors; the task which is the tactical factor, the impact on others which is the relationship factor and the consequences which is the big picture or strategic factor.

When you identify a business issue, you may well know of one or many possible solutions; each solution needs to be weighed up in terms of whether it will do the task, what the impact will be on others, (your clients, employees, and partners) and what the consequences of the action might be. 

When you make a decision do you tend to be realistic or idealistic?  Do you deliberate?  Or do you tend to react there and then?  If you do react there and then do the results tend to be effective or ineffective?

Crucial to good judgment is your value system in relation to your work and your personal life.  Getting the balance right is important.  When the balance is off kilter in either, your business judgement may be impaired through undue stresses.  It is difficult to make any decisions when you are under stress, let alone good ones.

When you are faced with a difficult decision, there are seven steps you can take to ensure the best possible solutions will be decided. (McMahon 2007).

1. 1.       Outline your goal and outcome.
2. 2.       Gather data. You need evidence to support a solution.
3. 3.       Brainstorm with others for alternative options.
4. 4.       List the pros and cons in relation to the task, the relationship and the consequences
5. 5.       Choose the solution that has many significant pros.
6. 6.       Take action.
7. 7.       Reflect on what you have learnt for next time.

In the words of Will Rogers.  “Good judgment comes from experience, and a lot of that comes from bad judgment”. We might aim to look after our brain and consider the task, its relationships and the consequences to ensure that we have fewer bad judgements.

With thanks to Rosie Barfoot of Training for Results for the inspiration and ideas.

The Importance of Social Networking

Cisco Systems reported the results of a survey they completed last year that businesses that took a strategic and tactical approach to online social networking made an 18% increase in net profits, a favourable comparison to the -6% in profits for those businesses that made no attempt to leverage the power of the online social media.

Those who have used this media well have a high level of social intelligence.  These businesses have shown empathy, listened to their clients, created social cognition, synchrony, presented themselves well, established influence and offered concern.

Here are the nine quick, sure-fire wins.

1. Set smart measurable achievable, realistic and time based targets or goals.  All business plans or marketing plans should have them.  For the purpose of this you might think about individual campaign goals.
2. Work out how you’ll measure the success of the online social activity you embark upon.  It is important to recognise the return on the time you invest in this activity.  Investments can go up AND down!  If you are not getting a return on the time you are investing then what do you need to do differently or should you cut your losses or are you getting benefits in other ways.
3. Know what your customers are buying.  How well do you listen to what is being said?  What picture are you building of the target client.  How much do you know about them?  How good are you at building relationships. 
4. Respond to what people are saying to you.  Shouting at them is not going to make them buy. Walk in the shoes of your audience.  Understanding what they want and offer them solutions.  Recognise the psychological reasons for their buying your offer and include those reasons in your social messages.
5. Answer questions, give information.  LinkedIn is a wonderful place for the professional to share information freely. 
6. Understand the social environment.  Understand the characters of each social media.  Twitter, LinkedIn and Facebook to name the three favourites have different personalities and audience behaviours.  March to the same tune as everyone else. 
7. Have a consistent profile and voice for each of your products, for each of your audience and for each of your profiles.
8. Establish your influence through expertise.  Answer questions, join groups and participate in discussions on LinkedIn.  Get to be a best answer on LinkedIn – it stays on your profile.  There is an active Dorset BusinessXchange members discussion group on LinkedIn if you want to try it out in a safe environment.  Fiona Sutherland has joined a niche group on LinkedIn in the last two weeks that has offered her lots of information.
9. Don’t stretch yourself too far.  You can only be active in a selective number. Chose the groups carefully.  Above all be interested and interesting, and offer to help whenever you can.

With thanks to Linda Parkinson-Hardman of Internet Mentor for the ideas and inspiration.