by Peter Helmer on January 25, 2012
In “The Godfather,” Don Corleone dispatches a minion to deal with an uncooperative movie producer. “Make him an offer he can’t refuse,” orders the Don.
You don’t have the Don’s powers of persuasion (or at least I hope not). The threat of violence is not exactly a standard sales technique.
Still, Don C. offers some sage sales advice. When you’re working with a new prospect, make him an offer he can’t refuse.
Convince him that:
- There is a small project that should be completed
- You can do it
- It will be inexpensive, fast, and low risk
Above all, you want to earn Mr. Prospect’s trust. Good things will happen if this project is successful.
What’s the Problem?
Mr. Prospect has lots of problems. They could be things he’d like to fix, opportunities he’d like to pursue, projects he’d like to complete or all of the above.
Don’t even think about trying to solve several problems at once even if Mr. Prospect wants you to. If you propose an expensive mega-project, bad things may happen:
- Mr. Prospect may get overwhelmed by the complexity and delay a decision
- Multiple execs may have to weigh in, slowing the approval process
- You may compete with internal or external service providers
I have first-hand experience with a failed mega-project. I once proposed a small project to a business owner named Kevin.
He kept asking for more. First, he wanted me to work on his sales system. Next, he wanted a proposal to rewrite his marketing materials. Then he asked me for a proposal to rewrite his website.
The proposals – and the costs – kept piling up. I was drooling at the prospect of all that work and all that money. Kevin finally choked on the cost and the complexity.
Nothing happened.
In retrospect, I was at fault for letting it get out of hand. I should have insisted on doing the original project first.
Start Small
Instead, find a small project. It must be useful to Mr. Prospect. And it must showcase your expertise.
Find out what Mr. Prospect ‘s priorities are in your area of expertise. Where are his most acute problems? What opportunities would he like to explore?
You may propose a study or a research project. Ideally, it will be something you can complete independently without involving Mr. Prospect or others (or at least very few people) in his company.
Another approach is a multi-phase project. Each phase would be self contained. Mr. Prospect would have the option not to complete future phases. That reduces the upfront costs – and the risks.
Propose a project that:
- Can be approved quickly (ideally by Mr. Prospect alone)
- Addresses a defined problem quickly
- Has a clearly defined deliverable, timeline, and budget
- Is relatively inexpensive (to avoid decision making paralysis)
- Supplements but does not duplicate work performed by others
- Provides value but poses little risk for Mr. Prospect
Resist Mr. Prospect’s “mission-creep” tendencies. If he wants to expand the scope of the project, just say no. That may be painful. But, ultimately, both of you will be happier.
A consultant friend of mine uses the term “Penetrate. Then Radiate.”
You can penetrate a company with a small project. If that project is successful, you can radiate. Presumably, you’ll get more work from your new client and possibly from others in the organization.
Note: This post first appeared in MENG Blend, ”Freshly brewed blend of executive insights & advice from Marketing Executives Networking Group bloggers.”
by Peter Helmer on December 20, 2011
You’re smart. You’re an expert. You do great work. Clients love you.
But does your mother know what you do? If not, you’ve got a problem.
You may be able to explain your business to experts in your industry and people familiar with your work. But if you can’t describe it to your mother, you probably can’t describe it to a lay audience.
That means that people you meet at networking events, social events, and in the course of your business day won’t understand what you do. And that means missed opportunities.
It could mean the difference between business success and failure.
It Should be so Easy. Why is it so Hard?
Explaining your business sounds easy. After all, you’re at it 24/7.
Don’t kid yourself. It’s not easy.
In fact, explaining your business a.k.a “Your Elevator Speech” is the single most difficult part of networking. It’s also the most important part.
You may be adept at the “mechanics” of networking: meeting people, following up, staying in touch. But your efforts will largely be wasted if your message is fuzzy. To be truly effective, you have to master both the “art” (the message) and the “science” (mechanics) of networking.
Professionals and business owners have a hard time explaining themselves for several reasons:
- No Niche – They describe themselves so broadly, or claim to do so many things, or are so undifferentiated (How many financial advisors do you know?) that colleagues cannot determine what they offer or to whom or how to distinguish them from competitors.
- Consultant-Speak – They use industry jargon or consultants’ lingo instead of plain English. Consultant-Speak: “I am a change agent empowering enterprises to leverage paradigm shifts.” Plain English: “I help companies get into new businesses.”
- No Benefits – They emphasize features rather than benefits. “I provide strategy consulting” ( Yawn…) vs I help CEO’s figure out where they want to go – and how to get there.” (Tell me more…)
Why do we do this? We’re so immersed in our businesses, we assume others understand what we do. They don’t.
Crafting Your Message
Here are the key elements of an effective message:
- Title – You need a title so colleagues can mentally categorize you. Emphasize your specialty. You’re not just a lawyer. You’re an attorney specializing in Elder Law.
- Target Market – What kind of people do you help? CEO’s of mid-sized companies, IT directors of Fortune 1000 companies, women going through a divorce? Be as specific as you can.
- Pain – What problem do you solve or what opportunity do you help exploit?
- Results – What happens as a result of your work? Remember, there are three things – and three things only – that motivate business people: time, money, and risk. Explain how you help clients make more money (lower costs, more revenue), save time, or reduce risk.
- Services – Describe what you do and how you do it.
Hey Mom, Now Do You Understand What I Do?
Now it’s time to put it all together
I am a (title). I work with (target market) who want to (Pain). I help them (Results). I do this by (Services).
Here’s mine, as an example:
“I am business development coach. I work with business owners, consultants, lawyers, accountants, and other professionals who want more referrals. I give them a system that enables them to look for new business and serve clients at the same time. I do this by helping them define their target market, develop a clear message, and network systematically.”
Three more steps:
1. Write - Write up at least 10 versions of your speech. Tweak it and mix and match words and phrases. Don’t stop tinkering until you’re satisfied. This exercise sounds painful, but it will produce a better speech.
2. Rehearse – Stand in front of the mirror and practice it. Leave yourself a voicemail to hear how it sounds. If you’ve got a camera on your computer or phone, film yourself.
3. Ask Mom -Try it out on your mother. If she approves, you’re ready to go. If she doesn’t, it’s back to detention. Write your elevator speech on the blackboard 10 more times, Johnny!
