GREG’S BUSINESS GROWTH NEWSLETTER #202
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Quick notes to help you grow your business in less time with less effort. . . sometime next week.
In this issue:
– Techniques for FIT
– Being Human
– Random Stuff
Techniques for FIT
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- Research requires good sources. If you think, “did Einstein really say that?” there’s a good chance he didn’t. Find primary sources.
- Now that we’re a week away from Thanksgiving here in the USA, it’s a good time to remind myself there’s a good chance I don’t need another piece of pie.
- Once a year it’s good to retake the VIA Survey of Character Strengths. The results will be similar but usually not exactly the same. You’re not the same person you were last year.
- Thanksgiving week is great for checking in. If you don’t hear from me, however, know that you’re on my mind. Swear.
Being Human – Of course you’d say that
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“Unless I see in His hands the print of the nails, and put my finger into the print of the nails, and put my hand into His side, I will not believe.” – St. Thomas
Does your firm or company use some form of a return-on-investment (ROI) calculator? Does it work for you?
The problem with most ROI caluculators isn’t the calculator itself, it’s the numbers and calculations don’t belong to the prospect. “But [the prospect] told me it would generate a 5% increase in sales!” says one exasperated rep. “[The prospect] agreed that if they would have known earlier it would have saved them a fortune,” explains another biz dev pro. These things may be true, but the only way you can be sure it’s meaningful to a prospect is if they do the work.
To improve the client’s adoption of ROI tools, teach your people three things:
- Let them do the math.
You and your people do this work day in and day out. Your prospects may make this decision once in a while at best. Wait for your prospects to do the math. Don’t do it for them. If you can’t avoid it, double check results with them at every step and show your work. - Question obvious results.
Any numbers or calculations, no matter how obvious, need to be revisited. “Really?” asked in a sincere way will help your prospect check their assumptions. I’ve sat through a lot of meetings where prospects and sellers are saying, “This is a game changer!” Teach your people to think, if that’s the case, why haven’t you done it earlier? - Be conservative.
Taking your prospects numbers and halving them shows good judgement and can remind everyone that sometimes it’s cheaper to keep a problem than to fix it. Good decisions require careful examination so teach your people how to work through it.
The common denominator with all three of these tactics is patience. The more time your people spend on developing the opportunity (the “R” in ROI) the more likely it is your prospect figures out how to pay for it. (The “I”)
I’ll leave you with one last tacic. It’s a listening tool and I’ve found that it’s hard to pick up on in the moment, but if you hear “Right. . .” or “You’re right. . .” it’s an indicator there’s work to do. “You’re right, doc, I need to lose a few pounds and exercise more,” is an example. Tepid acknowledgement doesn’t equate to success.
Help your team by questioning whether or not the excitement of the client comes from the client directly, or is simply a case of leading the witness by your people.
(And if no one is having these kinds of conversations with your business development people on a weekly basis, start. These questions will lead to a significant increase in revenue in less than a year. You’re probably thinking, “of course he’d say that,” thus proving my point.)
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Mom, really, who’s your favorite?
When we moved into our little neighborhood we were the youngest people on the block by a longshot. Most of the neighbors had lived here for decades, their kids were in high school or out of the house and we thought, “that won’t be us!” Yet, here we are.
The longer you’re in one place, the deeper the memories. Kids, pets, holidays, parties – the fog of remembering is everywhere. So, it wasn’t a surpise when after learning old neightbor Otto passed away that my wife went to the estate sale looking for his concrete goose yard ornament. The kids pre-school was at the end of the block while Otto’s wife was still alive. She dressed this goose in a new costume every month and when they walked to school the goose was a regular topic of conversation. In December it dressed like Santa, in February a Valentine’s dress, and so on. The moment the sale sign went up, my bride made a beeline to the house and talked them into giving the goose to her.
My job was to pick it up. The goose is way too heavy to carry so I had to use the wagon. Me and the goose in the wagon walking down the street explaining to the neighbors what they already knew, Wilhelmina is going to a new home.
She now sits on our porch and has been a witch, will be a pilgrim, and when we were in Green Bay I learned she is now a Packer fan. Yes, the mother of my children made a special trip to the Packer Pro Shop (filed in the dictionary under “shit show”) and found a koozie to tell the world about Wilhelmina’s favorite team.
This lovely picture was taken at 2:09pm and sent to the kids. Wilhelmina looks resplendant in her Packer finery on a cool fall day. The scarf is a nice touch. However, this sentimental outburst directed at our new, inanimate family member did not go unnoticed.
This picture was taken the same day at 3:21pm.
Apparently Wilson is either jealous or not a Packer fan.
Message delivered, message received.
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