Tag Archives: volunteer work

5 Steps: When You DON’T Make the Sale

9 Mar

You’ve spent a lot of time and energy working on a prospective client proposal and presentation. Then you learn that you didn’t win the bid. After you overcome your disappointment, what do you do next?

Below are the 5 Steps to take when you DON’T make the sale:

  1. Contact the client to learn which company they selected and what the “tipping points” were for the selection. Letting the client know that you merely want to learn if there are any areas of growth or consideration that you and your colleagues can improve upon for the future. Be sincere and authentic in your desire to get their feedback and suggestions.
  2. Evaluate the selection criteria from step 1 above. It’s important to determine if any of the selection criteria are areas you can improve upon, change, or are simply are beyond your control. You can learn a lot from your “losses.” Do you see a trend in the reason you’re losing business? Is the trend something that can be changed or is it a fixed trend.

    Example: If you are in hotel sales and you lose business because of your location, you can’t change that – but you may be able to find positives in your location to counter the client’s objections. However, if you lose business because you don’t include breakfast in your room rate, that’s a fairly simple fix.

  3. Establish an internal “trace date” to follow-up with the client based on benchmark dates: (1) If it’s a meeting planning contract, contact the client 30-days after the event to touch base on their event. (2) If it’s an annual contract, contact the client 90-days prior to the end of the contract term to determine level of satisfaction. (3) If it’s the sale of a product or service, contact the client 30-days after purchase to gage satisfaction.
  4. Create a Google Alert under the client’s name to follow their progress, company news, and press releases. Staying on top of a prospective client’s news opens opportunities for you to drop them a congratulatory note for a positive outcome in their company or a door opening for you to approach them with a new product.
  5. Maintain communications long after the initial “loss” is over. Given the Internet resources currently available, it’s easy to find ways to maintain communications with a prospect:
    • Connect with them on LinkedIn
    • Subscribe to their company’s blog or RSS feed
    • Create a “Stock Alert” (if they are a public company) to follow upswing in their company that may open new opportunities for you.

“Losing is only temporary and not all-encompassing. You must simply study it, learn from it, and try hard not to lose the same way again…” — John Wooden, Legendary UCLA Basketball Coach

Why Are We Meeting?

28 Sep

A few years ago, Psychology Today published an article by Ray B. Williams, “Wired for Success” in which Williams argues, that if you want to “improve productivity, scrap meetings.” He sites SmartBrief on Leadership that conducted a poll asking this question, “How much time do you spend in recurring meetings?” The results of the poll indicated that 30% of the respondents are spending between 30-75% of their time in recurring meetings. (Keep in mind, these meetings may be face-to-face, conference calls, or web-based.)

That said, you undoubtedly have meetings that are absolutely necessary and you may not need to “scrap” them. However, meeting leaders are responsible for preparing for the meetings ahead of time, ensuring all attendees understand what’s expected of them prior to and during the meeting, and then the leader must manage and control the meetings efficiently.

The Agenda
An agenda is essential to a successful meeting. If the meeting’s organizer can’t take the time to create an agenda then he/she may need to rethink the need for the meeting. Meetings, by definition, are established to communicate, evaluate, discuss, and produce results. That said the agenda should be disseminated to those invited to attend in advance. There’s nothing worse than attending a meeting having not received an agenda and being asked questions or for opinions that needed advance notice or analysis.

The Preparation
Creating an agenda takes time and preparation on the part of the meeting organizer. They need to determine and define the purpose of the meeting, the expectations during and following, and the objectives the meeting is intended to achieve.

In turn, the attendees should review the agenda upon receipt and ensure they too have done their homework to be prepared with the necessary information, reports, and recommendations on the topics outlined in the agenda. Quite simply, all of those seated at the meeting should be serving a purpose or a reason for their attendance and participation. As the meeting takes place, each person’s role and contribution should be demonstrated.

Useful Tips to Achieve a Productive Meeting:

  1. Don’t hold a meeting unless you’re prepared, organized, and have demonstrated goals.
  2. Distribute a specific agenda including intended outcomes in advance
  3. Be clear about the outcome and purpose of the meeting.
  4. Hold attendees accountable for the reports and information that they are expected to provide.
  5. Don’t use meetings to distribute information or give updates or low-level housekeeping  – –  do that by email
  6. Hold meetings just before lunch so people will value the limited time
  7. Limit meetings to one hour in length
  8. Always begin and end the meetings at the announced times

What tips or guidelines do you use?

The Conundrum of Paralysis by Analysis

27 Apr

Many years ago in a land far, far away I worked for a boss that suffered from “paralysis by analysis” in her search for “riskless risk.” As the proverbial Knights of the Roundtable, otherwise known as her Executive Team, each week we thrashed our way through the jungle of data, risk assessments, and possible alternative outcomes. Unfortunately, our quests often resulted in a dead-end. Why? Well, no decisions were ever made until the decisions made themselves. In other words, her indecision resulted in the least innovative and risk-free decisions. Additionally, no new results were generated since the “decisions” kept the business static. Her fear of making the wrong decision resulted in a stagnate company allowing others soar passed us.

How does this happen?
Every year or so, the business world identifies buzzwords/phrases that become common colloquialisms in boardrooms and executive offices around the world.

  • This could be a “game changer.”
  • We need to go after the “low hanging fruit.”
  • He’s a real “thought leader.”
  • We want to be “industry leaders.”
  • We need to be “innovative.”
  • We need to “get ahead of the curve.”

While these are great phrases to add into sales and marketing proposals, as well as year-end reports to corporate offices, they all have a couple of things in common. First, they need to be effectively sandwiched between a strategic plan on the front end and measurable goals/metrics on the back-end. Second, everyone around the table needs to accept that there is a certain level of risk and potential failure on the road to success. Identifying and evaluating that risk is the responsibility of managers. Being willing to shoulder an acceptable threshold for risk is the responsibility of a leader. And therein lies the rub.

Paralysis by Analysis
If this term doesn’t sound familiar, then let me explain the symptoms of the disease. The overall company or work group goals have been agreed upon. Then, each member of the team is tasked to research options, alternatives, and projected outcomes. Lastly, the team reassembles for a two-hour meeting and everyone throws his work on the table. The group goes through each scenario upon which discussion and brainstorming ensues for the greater portion of the two hours. With minutes left on the clock, the boss asks for the recommended plan of action. In other words, what decisions should be made based on the previous week’s work and this one hour and forty-five minute meeting?

Have you guessed the punch line? That’s right, no decisions were made. Instead, the topics were sent back to “committees” to explore further options and come back to the group with recommendations. So, the next question is why? Weren’t the options presented viable ones? Didn’t anyone agree with anything that was recommended? In fact, there were several options that could have been approved. Actually, there were an over-abundance of suggestions that could have yielded decisions. So what happened? Quite simply, the fear of making the wrong decision or alienating those on the opposing side of the decision now paralyzed everyone from making any decision.

Riskless Risk
If 2+2 equals 4, then you don’t run a risk of waking up one day to find that 2+2 equals 5. That’s riskless risk. In other words, riskless risk does not exist. Moreover, the best decisions are only deemed successful after they’re made. If you have the ability to look into the future and know that your risky decisions are going to all pay off, then head to Las Vegas and win big! After all, when a smart risk is taken, the joy of success is that much more rewarding. And, if you’re fearful that one wrong decision, no matter how small, will bring down your company/organization, then you’ve built your company/organization on a house of cards.

When you make educated decisions in a timely manner you move your organization along the path to success. Evaluate your threshold for risk and move forward with confidence.

You’re Branded!

25 Jun

Whether you’re starting a new career, advancing your current career, building a new business, or just graduating from college, you need to build your brand. Years ago, we used the buzzwords “image” and “identity” to define our public selves. However, with social media and Internet speed and access, we are now “brands.” Let’s face it. If we don’t proactively nurture and grow our brand, it will be identified by our tacit acceptance of the comments of others. In other words, we’ll be conspicuous by our absence and lack of attention. And rarely can a company or individual be professionally successful when they’re invisible.

Define Yourself/Company
Create a list of how you identify yourself, your skills, and your company. Who are you and what do you bring to the table that is unique? The great news is that everyone is a unique individual. But, in the business world, not every businessperson stands out in the crowd. Often, we are labeled by the brand of our job title. Don’t be “the sales guy that sold me my car.” Instead, give your customer a reason to identify you by name and a problem you solved for them. Something special. This is the type of individuality that causes others to refer new business or opportunities to you.

Identify the Problem You Solve
People don’t hire other people or companies simply because they have a need to be filled.  They hire you because they have a problem and are looking for a solution. Define how you are the solution. The marketplace is crowded for just about everything. You, your product, or services need to offer something that others don’t. As a person, you should possess a special skills or distinctive experiences that enhance your ability to solve a customer’s problem.

Establish Yourself as a Thought Leader
Be more that a resume. Demonstrate your knowledge, experience, and passion for your field through a blog, video, how-to guide, volunteer work, or speaking engagements. Thought leaders take all shapes and sizes. What’s important is that you’re passionate about your subject matter and able to demonstrate the value of your knowledge.

Create a Network of Opportunity
Use social media tools, local area events, and conventions/trade shows to connect with others in your field. This takes some homework. You’ll need to research where your peers, colleagues, and target audience “live.” Spend time in the “neighborhood” to listen to their concerns, best practices, and gaps in knowledge. Most importantly, take good notes and follow-up on any potential action items.

At the end of the day, building your brand takes time, patience, and an ongoing commitment.

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