Andrea Michaels's Blog, page 2
March 18, 2015
Business Is a Cat and Mouse Game
On a recent flight I read a wonderful article by Jay Heinrichs in Southwest's magazine. I love cats (especially my own two), and as wonderful as they are, this article made me think of a very special cat of mine, T-Shirt. T-Shirt was ever in search of a mouse. So with an ode to that enormous and beautiful tabby, here's what the article and Mr. Heinrichs said:
"Time is a mouse. It hides in its lair behind a wall, making maddening little scurrying noises, and then suddenly it dashes by you. If you happen to be a competent cat, you know that timing is more than seizing the mouse, or the moment. Great timing means being ready for that moment, knowing when it comes, so you can capture it and leave it on a loved one's bed. As a cat will teach you, half the skill of pouncing is waiting."
In business, timing is everything. And we cats rarely have the patience to wait for the right time. Our clients (the mice) entice us to win them over, giving out all kinds of signals (RFPs, RFQs, RFS "Request for Something") and then we cats do our athletic dances, madly jumping in the air, spinning in circles, and usually chasing our tails, just to make them take notice and get within our grasp. We rarely bide our time and wait for the right moment ... to pounce ... to capture them.
I have to admire the cat who sits in front of the mouse hole, staring deeply into it, for hours or sometimes even days, patiently waiting for the mouse to emerge. That is the cat that catches the mouse and is not forever dashing after it as it scurries far ahead of that bigger feline.
So, perhaps we need to really rethink strategy and the power of patience and waiting as we try to lure clients into our embrace; being ready for that moment when they are truly prepared to emerge. In human translation that means when they are sending out qualified RFPs or have a legitimate project to discuss. It takes skill as well as patience, but then again that pounce will be well worth it.
Thank you, Jay Heinrichs, for your words of wisdom.
Andrea Michaels is the president of multiple award-winning Extraordinary Events. EE has won 39h Special Events magazine Gala Awards. Andrea was presented with the Steve Kemble Leadership Award during The Special Event 2015, adding to numerous personal honors, including the Pillar of the Industry Gala and the Event Solution Hall of Fame awards. She is the author of Reflections of a Successful Wallflower – Lessonsin Business; Lessons in Life and co-author of a number of other business books. To learn more about EE, visit www.extraordinaryevents.net.
"Time is a mouse. It hides in its lair behind a wall, making maddening little scurrying noises, and then suddenly it dashes by you. If you happen to be a competent cat, you know that timing is more than seizing the mouse, or the moment. Great timing means being ready for that moment, knowing when it comes, so you can capture it and leave it on a loved one's bed. As a cat will teach you, half the skill of pouncing is waiting."
In business, timing is everything. And we cats rarely have the patience to wait for the right time. Our clients (the mice) entice us to win them over, giving out all kinds of signals (RFPs, RFQs, RFS "Request for Something") and then we cats do our athletic dances, madly jumping in the air, spinning in circles, and usually chasing our tails, just to make them take notice and get within our grasp. We rarely bide our time and wait for the right moment ... to pounce ... to capture them.
I have to admire the cat who sits in front of the mouse hole, staring deeply into it, for hours or sometimes even days, patiently waiting for the mouse to emerge. That is the cat that catches the mouse and is not forever dashing after it as it scurries far ahead of that bigger feline.
So, perhaps we need to really rethink strategy and the power of patience and waiting as we try to lure clients into our embrace; being ready for that moment when they are truly prepared to emerge. In human translation that means when they are sending out qualified RFPs or have a legitimate project to discuss. It takes skill as well as patience, but then again that pounce will be well worth it.
Thank you, Jay Heinrichs, for your words of wisdom.
Andrea Michaels is the president of multiple award-winning Extraordinary Events. EE has won 39h Special Events magazine Gala Awards. Andrea was presented with the Steve Kemble Leadership Award during The Special Event 2015, adding to numerous personal honors, including the Pillar of the Industry Gala and the Event Solution Hall of Fame awards. She is the author of Reflections of a Successful Wallflower – Lessonsin Business; Lessons in Life and co-author of a number of other business books. To learn more about EE, visit www.extraordinaryevents.net.
February 25, 2015
RFPs: Demystify the Process and Win Business Without Losing Money
A doctor will not prescribe medication for you without an examination and subsequent diagnosis.
A mechanic will not order parts for your vehicle without first examining the car and diagnosing the problem.
We in the meetings and event worlds are not doctors. Life and death are not within the scope of our responsibilities. Nor are we mechanics that fix vehicles.
Or are we? We are responsible for the health and well-being of corporate messaging. We are often responsible for fixing a corporate problem with well though out and strategic events. Yet as event professionals we are often expected to respond to an RFP or even a first meeting with a complete proposal, renderings, descriptives and the like.
Provocative thought, isn't it? Is our industry taken so lightly that we are not allowed to think and plan, diagnose and solve?
An informal Special Events magazine poll revealed that event design and production companies spend from $12,000-$15,000 responding to a client's Request for Proposal. Many of my event planning and production associates agree that the cost of responding to RFPs has gone up over the last few years. I know in my own business that the cost has probably tripled at least primarily because my company is going after larger jobs.
Increased competition has also forced everyone to take it over the top spending more time researching, analyzing, diagnosing and creating our responses in order to be pertinent. Long gone are the days when we can take Proposal B-13 out of the archives and re-purpose it for a new client. So with an in-depth proposal as the goal we have to hire additional freelance creative staff, and design intricate floor plans and renderings, often even create film, to assure that our clients get our vision.
To double the pressure on all of us, clients want detail, detail, detail, including our financial statements as part of it all. [Translated: Our accountant needs to do double-time.) And, clients want it right now! Immediately.
The Catch 22 with extensive detail is that most RFPs also ask for subcontractor information. Along with that, you might find what I call the latest and greatest: Clients require they have the right to use your ideas, renderings, et al, at will. Oh, and guess what? Before they consider you, you must sign and agree to that nifty clause. If a client is merely window-shopping, where does that leave you?
Spending a lot of money with no clue what you are doing and why is my answer to that question. Why do you want to do that?
It would be sheer luck if you could win a bid before you fully understood the needs and goals of your client and this very specific project. Submit a capabilities document? Of course. It's not your capabilities that are changing. It's the specific client and their specific needs that are unique.
The Solutions
The perfect solution to all of the issues outlined above is to charge for your proposal. Most of the companies you are dealing with have R&D departments. They are paid for their time. An architect does not design a building for you without charging for his time, does he? This is particularly effective if you know someone is trolling for bids. At the very least, it might keep the competition limited to three instead of 23 bids. Explain to the prospective client that the cost will be refunded upon the signing of a contract (i.e. applied to the job). Admittedly very few clients will allow for this, but it's worth a try.
What you can always do is have clients sign an agreement not to use any part of your proposal if the job is awarded to another company. Do this before you hand over the proposal. Using your ideas is theft. (This will put a stop to the practice of being handed a proposal from a competitor and asked to price it out against them.)
These two practices will give your proposals far more perceived value. And, just think, if this became an industry practice, all the above problems would be solved. Consider it. I'd love for you to share your thoughts on it with me via amichaels@extraordinaryevents.net.
Andrea Michaels is the president of multiple award-winning Extraordinary Events. EE just took home its 39th Special Events magazine Gala Award. Andrea was presented with the Steve Kemble Leadership Award during The Special Event, adding to numerous personal honors, including the Pillar of the Industry Gala and the Event Solution Hall of Fame awards. She is the author of Reflections of a Successful Wallflower - Lessons in Business; Lessons in Life and co-author of a number of other business books.
A mechanic will not order parts for your vehicle without first examining the car and diagnosing the problem.
We in the meetings and event worlds are not doctors. Life and death are not within the scope of our responsibilities. Nor are we mechanics that fix vehicles.
Or are we? We are responsible for the health and well-being of corporate messaging. We are often responsible for fixing a corporate problem with well though out and strategic events. Yet as event professionals we are often expected to respond to an RFP or even a first meeting with a complete proposal, renderings, descriptives and the like.
Provocative thought, isn't it? Is our industry taken so lightly that we are not allowed to think and plan, diagnose and solve?
An informal Special Events magazine poll revealed that event design and production companies spend from $12,000-$15,000 responding to a client's Request for Proposal. Many of my event planning and production associates agree that the cost of responding to RFPs has gone up over the last few years. I know in my own business that the cost has probably tripled at least primarily because my company is going after larger jobs.
Increased competition has also forced everyone to take it over the top spending more time researching, analyzing, diagnosing and creating our responses in order to be pertinent. Long gone are the days when we can take Proposal B-13 out of the archives and re-purpose it for a new client. So with an in-depth proposal as the goal we have to hire additional freelance creative staff, and design intricate floor plans and renderings, often even create film, to assure that our clients get our vision.
To double the pressure on all of us, clients want detail, detail, detail, including our financial statements as part of it all. [Translated: Our accountant needs to do double-time.) And, clients want it right now! Immediately.
The Catch 22 with extensive detail is that most RFPs also ask for subcontractor information. Along with that, you might find what I call the latest and greatest: Clients require they have the right to use your ideas, renderings, et al, at will. Oh, and guess what? Before they consider you, you must sign and agree to that nifty clause. If a client is merely window-shopping, where does that leave you?
Spending a lot of money with no clue what you are doing and why is my answer to that question. Why do you want to do that?
It would be sheer luck if you could win a bid before you fully understood the needs and goals of your client and this very specific project. Submit a capabilities document? Of course. It's not your capabilities that are changing. It's the specific client and their specific needs that are unique.
The Solutions
The perfect solution to all of the issues outlined above is to charge for your proposal. Most of the companies you are dealing with have R&D departments. They are paid for their time. An architect does not design a building for you without charging for his time, does he? This is particularly effective if you know someone is trolling for bids. At the very least, it might keep the competition limited to three instead of 23 bids. Explain to the prospective client that the cost will be refunded upon the signing of a contract (i.e. applied to the job). Admittedly very few clients will allow for this, but it's worth a try.
What you can always do is have clients sign an agreement not to use any part of your proposal if the job is awarded to another company. Do this before you hand over the proposal. Using your ideas is theft. (This will put a stop to the practice of being handed a proposal from a competitor and asked to price it out against them.)
These two practices will give your proposals far more perceived value. And, just think, if this became an industry practice, all the above problems would be solved. Consider it. I'd love for you to share your thoughts on it with me via amichaels@extraordinaryevents.net.
Andrea Michaels is the president of multiple award-winning Extraordinary Events. EE just took home its 39th Special Events magazine Gala Award. Andrea was presented with the Steve Kemble Leadership Award during The Special Event, adding to numerous personal honors, including the Pillar of the Industry Gala and the Event Solution Hall of Fame awards. She is the author of Reflections of a Successful Wallflower - Lessons in Business; Lessons in Life and co-author of a number of other business books.
December 18, 2014
Healthy Competition ... Friend or Foe of Business Success?
In my many years of doing business, I have competed for clients and specific pieces of business. Little competition challenged me in the early years. As a result, I knew who I was competing against. Today within our industry of special events and meetings (as well as many other industries), more competition is the norm. As companies downsize, and those who are now "available" start their own businesses, more folks are out there trying to find a client and make money.
So what's "healthy" and what's not?
I would imagine that you, like me, can identify both. And let's start with the "nots."
It is not healthy to:
1. undermine your competitors and point out their faults or diminish their reputation in order to make yourself look better.
2. deliberately undercut a competitor's pricing when you know it is fair.
3. ask to see a competitor's proposal (under any circumstances).
4. go into competition for a client who you've been paid to work for when working with another company (the "I can do what they do" syndrome).
5. take the rolodex of a company you've left and use it for your own gain.
I can already hear that question arising out of 4 & 5. It'll probably go something like this: "But it was ME who developed the relationship, so what can I do if they want to work with ME?" Or, "I met that vendor at an industry event."
Here's my response. "Were you paid (either salary or commission or both) to solicit this client, develop the client and produce the business? If so, it is not YOUR client. It is the company's client. It was your job to do exactly what you did. On the other hand, if you brought the piece of business to the company from a prior relationship, then you do own that client. Next scenario: "Who paid for you to go to the industry event?" Point made.
It IS healthy (and I will give you some examples):
1. to price yourself fairly no matter with whom you are competing. I have had clients tell me the price a competitor is offering and ask if I would be willing to do the job for the same price. I will decline and stand firm that I have costed OUR product fairly. The decision should be made on the value of the product offered and not only who is cheaper.
2. to collaborate with a competitor and join forces if you feel this will benefit the client. A long time ago a fierce competitor (and by the way, great friend), Janet Elkins of EventWorks, and I were bidding on a job for a local community. Rather than compete we decided to collaborate and work together for the benefit of the community. To this day, Janet can call me for a resource, or I can call her, and we are open with each other. Do we talk about clients we are both bidding on? No, we just each do our job. But to this day, we would join forces if we felt that it benefitted the project.
3. to pass on a job you're not suited for and recommend one of your competitors, who is a better fit. (This will come back to benefit you many times over.) You have heard (or read) the "me first" story from long ago when a speaker shared the following: when he felt that someone he knew would be far better suited to produce a job (it was not an event), he referred his prospect to that company. The owner called him, thanked him, and said, "Why did you do that?" Our speaker said, "Because I knew you would do that for me." And that set the stage for future referrals which he did get.
4. when in a bid situation to praise your competition if you know who they are. It means you are acknowledging that your client is putting you in good company. Any client will have far more respect for you if you do this. If I was asked what our differentiator was, I would never say, "We're better" or "They are too expensive" or "We have more experience." What I would say is "They are a great company, and you could not go wrong no matter who you choose. What we bring to the table is (and then point out anything that I can offer that is unique to my company.)" Maybe you have employees who speak multiple languages, or have traveled to the client's home country.
We all compete. So do your clients. That's the world of today. Every brand has a competitor. So, don't come to a screeching halt when faced with that fact as you do business. Remember your value. Remember your strengths. Play to them; that is healthy. And in the end, it will bring success.
Andrea Michaels is the founder and president of Extraordinary Events, an international meeting and event planning and production firm based in Los Angeles. To learn more about EE, visit http://www.extraordinaryevents.net. Contact Andrea via amichaels@extraordinaryevents.net.
So what's "healthy" and what's not?
I would imagine that you, like me, can identify both. And let's start with the "nots."
It is not healthy to:
1. undermine your competitors and point out their faults or diminish their reputation in order to make yourself look better.
2. deliberately undercut a competitor's pricing when you know it is fair.
3. ask to see a competitor's proposal (under any circumstances).
4. go into competition for a client who you've been paid to work for when working with another company (the "I can do what they do" syndrome).
5. take the rolodex of a company you've left and use it for your own gain.
I can already hear that question arising out of 4 & 5. It'll probably go something like this: "But it was ME who developed the relationship, so what can I do if they want to work with ME?" Or, "I met that vendor at an industry event."
Here's my response. "Were you paid (either salary or commission or both) to solicit this client, develop the client and produce the business? If so, it is not YOUR client. It is the company's client. It was your job to do exactly what you did. On the other hand, if you brought the piece of business to the company from a prior relationship, then you do own that client. Next scenario: "Who paid for you to go to the industry event?" Point made.
It IS healthy (and I will give you some examples):
1. to price yourself fairly no matter with whom you are competing. I have had clients tell me the price a competitor is offering and ask if I would be willing to do the job for the same price. I will decline and stand firm that I have costed OUR product fairly. The decision should be made on the value of the product offered and not only who is cheaper.
2. to collaborate with a competitor and join forces if you feel this will benefit the client. A long time ago a fierce competitor (and by the way, great friend), Janet Elkins of EventWorks, and I were bidding on a job for a local community. Rather than compete we decided to collaborate and work together for the benefit of the community. To this day, Janet can call me for a resource, or I can call her, and we are open with each other. Do we talk about clients we are both bidding on? No, we just each do our job. But to this day, we would join forces if we felt that it benefitted the project.
3. to pass on a job you're not suited for and recommend one of your competitors, who is a better fit. (This will come back to benefit you many times over.) You have heard (or read) the "me first" story from long ago when a speaker shared the following: when he felt that someone he knew would be far better suited to produce a job (it was not an event), he referred his prospect to that company. The owner called him, thanked him, and said, "Why did you do that?" Our speaker said, "Because I knew you would do that for me." And that set the stage for future referrals which he did get.
4. when in a bid situation to praise your competition if you know who they are. It means you are acknowledging that your client is putting you in good company. Any client will have far more respect for you if you do this. If I was asked what our differentiator was, I would never say, "We're better" or "They are too expensive" or "We have more experience." What I would say is "They are a great company, and you could not go wrong no matter who you choose. What we bring to the table is (and then point out anything that I can offer that is unique to my company.)" Maybe you have employees who speak multiple languages, or have traveled to the client's home country.
We all compete. So do your clients. That's the world of today. Every brand has a competitor. So, don't come to a screeching halt when faced with that fact as you do business. Remember your value. Remember your strengths. Play to them; that is healthy. And in the end, it will bring success.
Andrea Michaels is the founder and president of Extraordinary Events, an international meeting and event planning and production firm based in Los Angeles. To learn more about EE, visit http://www.extraordinaryevents.net. Contact Andrea via amichaels@extraordinaryevents.net.
November 21, 2014
Keeping Your Customer for a Lifetime and the Effects on Your Bottom Line
I recently read an article by Shep Hyken entitled, "The Lifetime Value of Your Customers." Shep shared that four out of ten senior executives in larger companies don't know the lifetime value of their customers. What does this mean? If leadership doesn't know, Shep explains, then employees won't know either. Yet when employees know and have clarity about the lifetime value of a customer, he continues to write, they can make better customer-focused decisions.
I have had some clients for over 25 years. Is that worth far more than a one off? Certainly! I started thinking of how the true value could be explained and why it mattered so much. Let's say that I go to a great restaurant and I spend $50 for a dinner. And, I like it so much that I go there once a month. That's worth $200. Over a year that's $2,400. And (presuming it doesn't go out of business) in 10 years it is $24,000.
Taking this into account for my industry (meeting and event planning and production), we do a great job for a client for ...oh, let's say $50,000 ... and it's an annual. Over 10 years if you retain that client, and assuming there will be some inflation, it could be worth $750,000.
Well worth taking the time to make that one client very, very happy and earn their loyalty. And worth passing onto your employees the merit of going over and above at all times. It's job security, isn't it?
Many years ago I was contacted by a hotel that had a client who needed a guitarist. (Stop reading if you've heard this story.) And the hotel needed me to drive from the high desert (where I lived) to Laguna Beach to play the client tapes of guitarists. Yes, you guessed it ... before emailing or YouTube. The trip one way was about two hours with no traffic. I did that. They hired me, and on the day of the job I drove back down to Laguna again to make sure they were happy with the guitarist. They were.
Fast forward three months. The client returned and needed a dance band. More "tapes" (remember those?) and ultimately a job which I again drove down for. By the way, they didn't like the band as it was very "California" and they were New Yorkers. But that didn't matter. They liked the service and personal attention they got.
Fast forward again, and they were returning and wanted a major headliner. I once again drove to meet them. The program grew too big for the hotel, so we needed a venue which turned out to be a tent which needed catering, decor, rentals, permitting, staging, audio-visual AND the headliner. For two weeks of programs featuring a major headliner.
I retained the business for years, traveling with this client and doing events, meetings, headliners, etc. All from not being daunted by going out of my way to book a guitarist.
To add another story (I can keep 'em coming, folks!) let's go back almost 26 years to my first meeting with Bob Abbott of Mueller Company. I'll start at the end. I am doing their annual incentive program, not just parties, but travel, hotel, registration, tours, gifts ... I am their full-service incentive company. And have been for the past 10 years. Anyway, let's go back 16 years when Bob Called me based upon a referral and asked if I could show him venues around Los Angeles for a small event for his company's best customers. We drove around for two days because Bob likes to see everything, and I mean everything. After Day One I realized that we had really hit it off so I took him to Tony & Tina's Wedding (gee Bob, one of my staff is getting married, and I have to make an appearance); we went shopping for a wedding gift, etc. Obviously part way into the evening, he figured out this was a fully-staged show, and we had a great time. EE did his event that year, and every year thereafter as part of AWWA. And each year was a party, always more and more challenging to me to be inventive and out of the box. Fortunately, with Bob, there is no box. We grew from these more intimate events to eventually larger hospitality events and then finally to the full-scale deluxe incentive. All from "Can you show me a few places in Los Angeles?" Now we travel the world with Mueller. At the very onset, it was a huge investment of time. Was it worth it? Judge for yourself.
What's the lifetime value of a customer? What is good service worth? Is any job really too small if it has potential? I don't think so, do you?
Andrea Michaels is the founder and president of Extraordinary Events, a multiple award-winning international meeting and event planning and production firm based in Los Angeles. To learn more about EE, visit http://www.extraordinaryevents.net. Contact Andrea via amichaels@extraordinaryevents.net.
I have had some clients for over 25 years. Is that worth far more than a one off? Certainly! I started thinking of how the true value could be explained and why it mattered so much. Let's say that I go to a great restaurant and I spend $50 for a dinner. And, I like it so much that I go there once a month. That's worth $200. Over a year that's $2,400. And (presuming it doesn't go out of business) in 10 years it is $24,000.
Taking this into account for my industry (meeting and event planning and production), we do a great job for a client for ...oh, let's say $50,000 ... and it's an annual. Over 10 years if you retain that client, and assuming there will be some inflation, it could be worth $750,000.
Well worth taking the time to make that one client very, very happy and earn their loyalty. And worth passing onto your employees the merit of going over and above at all times. It's job security, isn't it?
Many years ago I was contacted by a hotel that had a client who needed a guitarist. (Stop reading if you've heard this story.) And the hotel needed me to drive from the high desert (where I lived) to Laguna Beach to play the client tapes of guitarists. Yes, you guessed it ... before emailing or YouTube. The trip one way was about two hours with no traffic. I did that. They hired me, and on the day of the job I drove back down to Laguna again to make sure they were happy with the guitarist. They were.
Fast forward three months. The client returned and needed a dance band. More "tapes" (remember those?) and ultimately a job which I again drove down for. By the way, they didn't like the band as it was very "California" and they were New Yorkers. But that didn't matter. They liked the service and personal attention they got.
Fast forward again, and they were returning and wanted a major headliner. I once again drove to meet them. The program grew too big for the hotel, so we needed a venue which turned out to be a tent which needed catering, decor, rentals, permitting, staging, audio-visual AND the headliner. For two weeks of programs featuring a major headliner.
I retained the business for years, traveling with this client and doing events, meetings, headliners, etc. All from not being daunted by going out of my way to book a guitarist.
To add another story (I can keep 'em coming, folks!) let's go back almost 26 years to my first meeting with Bob Abbott of Mueller Company. I'll start at the end. I am doing their annual incentive program, not just parties, but travel, hotel, registration, tours, gifts ... I am their full-service incentive company. And have been for the past 10 years. Anyway, let's go back 16 years when Bob Called me based upon a referral and asked if I could show him venues around Los Angeles for a small event for his company's best customers. We drove around for two days because Bob likes to see everything, and I mean everything. After Day One I realized that we had really hit it off so I took him to Tony & Tina's Wedding (gee Bob, one of my staff is getting married, and I have to make an appearance); we went shopping for a wedding gift, etc. Obviously part way into the evening, he figured out this was a fully-staged show, and we had a great time. EE did his event that year, and every year thereafter as part of AWWA. And each year was a party, always more and more challenging to me to be inventive and out of the box. Fortunately, with Bob, there is no box. We grew from these more intimate events to eventually larger hospitality events and then finally to the full-scale deluxe incentive. All from "Can you show me a few places in Los Angeles?" Now we travel the world with Mueller. At the very onset, it was a huge investment of time. Was it worth it? Judge for yourself.
What's the lifetime value of a customer? What is good service worth? Is any job really too small if it has potential? I don't think so, do you?
Andrea Michaels is the founder and president of Extraordinary Events, a multiple award-winning international meeting and event planning and production firm based in Los Angeles. To learn more about EE, visit http://www.extraordinaryevents.net. Contact Andrea via amichaels@extraordinaryevents.net.
September 26, 2014
When Under Attack, Fall Back
Recently I read the following article by Douglas Kolker and thought it so fabulous that I wanted to share it with everyone. Douglas graciously agreed, so enjoy his wisdom. -Andrea Michaels
When Under Attack, Fall Back
-By Douglas Kolker
Has this ever happened to you? You're in the middle of a discussion with a prospect, and suddenly you're caught flat-footed by what seems like an attack.
Maybe the prospect says, "You obviously don't know a whole lot about our industry." Or: "This presentation has no relevance to what you and I talked about." Or maybe you pick up a sudden, distinctly negative body language signal, like the prospect shaking his head slowly back and forth.
And then what happens? You fight back. Without much thought, and driven by barely suppressed emotion, you react immediately.
Perhaps you say, "On the contrary, I did a lot of in-depth research on your industry." Or: "Actually, I took very detailed notes during our previous conversation, and this presentation is based exclusively on those notes. Here, I can show you." Or: "What's that supposed to mean?"
These are all emotional reactions. No matter how "right" you may happen to be in your instant rebuttal, it's a good bet that you will lose the sale, and damage the relationship by reacting this way.
So here's the question. What's really happening here?
In order to understand that, you need to understand that people operate out of three Ego States: a nurturing or critical Parent, a detached Adult, and an emotional Child. This is how we are wired. When your prospect made that comment or sent that negative body language signal, he was, in all likelihood, responding from the Child Ego State.
While it's important to avoid triggering negative Child responses from your prospects, it's even more important to suppress your own Child reactions to the things your prospects say or do!
The next time you get this kind of feedback from a prospect, step back and make a conscious effort to leave your own Child out of the discussion. When you are under attack, fall back!
The best way to do this is simply to take a deep breath and remind yourself that, while it is normal to wonder what you did "wrong," or ask yourself "What's wrong with me?" a far more constructive question to ask is, "What's wrong with the prospect?"
By focusing on the prospect, rather than reacting from your own Child Ego State, you can comment or ask questions from an Adult or Nurturing Parent position. This allows you to explore the motivation for the prospect's action. For instance:
"Bill, what is it that I've said that makes you doubt my research?"
"Mary, what is it specifically about my presentation that isn't working for you?'
Or simply: "Tom, I suspect that whatever it is I've presented thus far is not what you were hoping for." (Then stop talking.)
By making a conscious choice to leave your Child out of the discussion, you can re-engage, reassess, and reclaim momentum in the discussion. You'll identify what really triggered the negative response. You'll stand a much better chance of sustaining a positive business relationship with this person... and, eventually, closing the deal.
This article was originally published in SandlerBrief, a monthly e-newsletter provided by the Sandler Training network of trainers. For more information on Sandler Training, contact Douglas Kolker via dkolker@sandler.com or visit www.douglaskolker.sandler.com
©2014 Sandler Systems, Inc. All rights reserved. No portion of this article may be reprinted or used without the express written permission of Sandler Systems, Inc.
To learn more about Extraordinary Events, contact amichaels@extraordinaryevents.net or visit www.extraordinaryevents.net.
When Under Attack, Fall Back
-By Douglas Kolker
Has this ever happened to you? You're in the middle of a discussion with a prospect, and suddenly you're caught flat-footed by what seems like an attack.
Maybe the prospect says, "You obviously don't know a whole lot about our industry." Or: "This presentation has no relevance to what you and I talked about." Or maybe you pick up a sudden, distinctly negative body language signal, like the prospect shaking his head slowly back and forth.
And then what happens? You fight back. Without much thought, and driven by barely suppressed emotion, you react immediately.
Perhaps you say, "On the contrary, I did a lot of in-depth research on your industry." Or: "Actually, I took very detailed notes during our previous conversation, and this presentation is based exclusively on those notes. Here, I can show you." Or: "What's that supposed to mean?"
These are all emotional reactions. No matter how "right" you may happen to be in your instant rebuttal, it's a good bet that you will lose the sale, and damage the relationship by reacting this way.
So here's the question. What's really happening here?
In order to understand that, you need to understand that people operate out of three Ego States: a nurturing or critical Parent, a detached Adult, and an emotional Child. This is how we are wired. When your prospect made that comment or sent that negative body language signal, he was, in all likelihood, responding from the Child Ego State.
While it's important to avoid triggering negative Child responses from your prospects, it's even more important to suppress your own Child reactions to the things your prospects say or do!
The next time you get this kind of feedback from a prospect, step back and make a conscious effort to leave your own Child out of the discussion. When you are under attack, fall back!
The best way to do this is simply to take a deep breath and remind yourself that, while it is normal to wonder what you did "wrong," or ask yourself "What's wrong with me?" a far more constructive question to ask is, "What's wrong with the prospect?"
By focusing on the prospect, rather than reacting from your own Child Ego State, you can comment or ask questions from an Adult or Nurturing Parent position. This allows you to explore the motivation for the prospect's action. For instance:
"Bill, what is it that I've said that makes you doubt my research?"
"Mary, what is it specifically about my presentation that isn't working for you?'
Or simply: "Tom, I suspect that whatever it is I've presented thus far is not what you were hoping for." (Then stop talking.)
By making a conscious choice to leave your Child out of the discussion, you can re-engage, reassess, and reclaim momentum in the discussion. You'll identify what really triggered the negative response. You'll stand a much better chance of sustaining a positive business relationship with this person... and, eventually, closing the deal.
This article was originally published in SandlerBrief, a monthly e-newsletter provided by the Sandler Training network of trainers. For more information on Sandler Training, contact Douglas Kolker via dkolker@sandler.com or visit www.douglaskolker.sandler.com
©2014 Sandler Systems, Inc. All rights reserved. No portion of this article may be reprinted or used without the express written permission of Sandler Systems, Inc.
To learn more about Extraordinary Events, contact amichaels@extraordinaryevents.net or visit www.extraordinaryevents.net.
September 17, 2014
Losing the Sale - The True Business Marketing Opportunity
You can't win them all" is sage advice when you're giving it and not receiving it, right? So what happens to you when you've lost a sale? Having lost more than my fair share (and won more than my fair share, by the way), I've run the gamut of emotional responses. Having learned some lessons along this journey if I can save you some grief, allow me to do so.
Years ago a repeat client of mine asked me to provide a proposal for a much coveted project. I never knew it was a bid situation ... silly me; I didn't ask. (Lesson One: ALWAYS "ask"). My client informed me that he had decided ... yes, you have heard this, too, haven't you? ... to go in another direction. Translated: you didn't win this piece of business. My reaction? I went into mourning. Life came to a halt as I repeatedly questioned myself with "what did I do wrong? or "what could I have done better? Those questions haunted me for days, and they would have haunted me a lot longer had I not had an eye-opening conversation with my friend, John Wood.
When I told John about my great loss, his response was (in a nutshell), "move on. Don't dwell on this job or you'll just be exuding negative energy. Put your time and effort into finding a great new client and a fabulous new project." He told me this because that's what HE did. He closed one door in order to open new ones.
There are so many politics (personal and professional) involved when bidding on a job. Like a good suit, sometimes it's just finding the right fit. Or like a good meal, the right recipe. It's not that yours is bad; it's just that another one fits the bill better at that time.
Okay, that's all very philosophical. But what are practical and action steps? You just received THE CALL ... or email ... or in today's world, rejection by text. Oh, the dreaded rejection. Do you just accept it? Well, don't.
So, How Do You Deal with It?
1. Find out if that door is really slammed shut. Has a contract been signed with another company? If not, ASK for the business and sell yourself by being the consummate professional you are. Ask probing questions and look for the needs of your potential client and then offer specific answers to those needs. NEVER undermine a competitor, just state your value and your commitment to being a team player who sincerely wants their business and believes you are the best fit. Sometimes this will salvage a project; other times it won't.
2. Okay, the door IS definitely slammed. Do you forget about this project? NEVER! But you don't spend time mourning. You throw your hat in the ring for the next time with them, and then you move on, putting all your positive energy into new clients and new projects.
3. At this point I can hear the "easily said, but not easily done," because your ego and your wallet are at stake. Look at it this way. Put away thoughts of the client who didn't value your offer and put all of your energy into the client who will. Look at it this way; you are no longer wasting the time that can be put toward finding someone who appreciates your talent and skills. That's a true positive, isn't it? It is the ultimate opportunity. One client has actually opened up the door for you to spend time with another that you might have missed had you not been rejected.
4. A lesson in perseverance. Thank you, Janet Elkins of EventWorks. When she was receiving an award for an event she created and produced for a Chinese client, she told me that she had called him only to be told that the bid for the project was no longer open but if she was ever "in the area" she should call on him for the future. Janet didn't take that as a no, so she and her team flew to Hong Kong to meet the client and present their capabilities. The client re-opened the door, and ultimately Janet and her company were awarded the business, did an amazing job, and now have a long-standing relationship.
I learned from that, and when the opportunity for a major project came up I invested time and money to fly half-way across the world to show my level of commitment to a project that I coveted. It went a long way to ultimately winning a major piece of business for me. Again, Janet, thank you. I am never too old to learn.
So, my friends, in all of this, what is the lesson? It's all in how you look at things ... it's attitude ... the choice is always yours to make. Sometimes detours make the best sightseeing.
Andrea Michaels is the founder/President of multiple award-winning Extraordinary Events and the author of Reflections of a Successful Wallflower –Lessons in Business; Lessons in Life. To learn more about her and her company, visit http://www.extraordinaryevents.net. Andrea may be reached via amichaels@extraordinaryevents.net.
Years ago a repeat client of mine asked me to provide a proposal for a much coveted project. I never knew it was a bid situation ... silly me; I didn't ask. (Lesson One: ALWAYS "ask"). My client informed me that he had decided ... yes, you have heard this, too, haven't you? ... to go in another direction. Translated: you didn't win this piece of business. My reaction? I went into mourning. Life came to a halt as I repeatedly questioned myself with "what did I do wrong? or "what could I have done better? Those questions haunted me for days, and they would have haunted me a lot longer had I not had an eye-opening conversation with my friend, John Wood.
When I told John about my great loss, his response was (in a nutshell), "move on. Don't dwell on this job or you'll just be exuding negative energy. Put your time and effort into finding a great new client and a fabulous new project." He told me this because that's what HE did. He closed one door in order to open new ones.
There are so many politics (personal and professional) involved when bidding on a job. Like a good suit, sometimes it's just finding the right fit. Or like a good meal, the right recipe. It's not that yours is bad; it's just that another one fits the bill better at that time.
Okay, that's all very philosophical. But what are practical and action steps? You just received THE CALL ... or email ... or in today's world, rejection by text. Oh, the dreaded rejection. Do you just accept it? Well, don't.
So, How Do You Deal with It?
1. Find out if that door is really slammed shut. Has a contract been signed with another company? If not, ASK for the business and sell yourself by being the consummate professional you are. Ask probing questions and look for the needs of your potential client and then offer specific answers to those needs. NEVER undermine a competitor, just state your value and your commitment to being a team player who sincerely wants their business and believes you are the best fit. Sometimes this will salvage a project; other times it won't.
2. Okay, the door IS definitely slammed. Do you forget about this project? NEVER! But you don't spend time mourning. You throw your hat in the ring for the next time with them, and then you move on, putting all your positive energy into new clients and new projects.
3. At this point I can hear the "easily said, but not easily done," because your ego and your wallet are at stake. Look at it this way. Put away thoughts of the client who didn't value your offer and put all of your energy into the client who will. Look at it this way; you are no longer wasting the time that can be put toward finding someone who appreciates your talent and skills. That's a true positive, isn't it? It is the ultimate opportunity. One client has actually opened up the door for you to spend time with another that you might have missed had you not been rejected.
4. A lesson in perseverance. Thank you, Janet Elkins of EventWorks. When she was receiving an award for an event she created and produced for a Chinese client, she told me that she had called him only to be told that the bid for the project was no longer open but if she was ever "in the area" she should call on him for the future. Janet didn't take that as a no, so she and her team flew to Hong Kong to meet the client and present their capabilities. The client re-opened the door, and ultimately Janet and her company were awarded the business, did an amazing job, and now have a long-standing relationship.
I learned from that, and when the opportunity for a major project came up I invested time and money to fly half-way across the world to show my level of commitment to a project that I coveted. It went a long way to ultimately winning a major piece of business for me. Again, Janet, thank you. I am never too old to learn.
So, my friends, in all of this, what is the lesson? It's all in how you look at things ... it's attitude ... the choice is always yours to make. Sometimes detours make the best sightseeing.
Andrea Michaels is the founder/President of multiple award-winning Extraordinary Events and the author of Reflections of a Successful Wallflower –Lessons in Business; Lessons in Life. To learn more about her and her company, visit http://www.extraordinaryevents.net. Andrea may be reached via amichaels@extraordinaryevents.net.
August 28, 2014
What 25 Years of Business Ownership and Management Have Taught Me
I’m writing this piece for other C-Level owners and executives who have gone through the fire and for those who want to run the gauntlet of owning and running a business. I’ve been at it for 25 years, and in that time, there are certain “truths” that one learns. For instance, I might be appearing to relax and enjoy a sunny day to some. In “truth” I’m thinking about the next event my team and I are going to produce; the next article I need to write to keep my company in the public eye and the management issues that I need to handle in the upcoming weeks. Do I travel and enjoy life? Absolutely. Do I ever stop thinking about my company’s next move? Never.
So, for the purposes of this article, let’s start from the beginning. If you are like me, I found that the toughest obstacle in launching my business was defining who I wanted to be and why. I had to define my skill set. If you came from another company to launch your own, as I did, it’s imperative to consider legally and ethically how you can promote yourself. How do you get the word out that you are in business without causing your former company harm? And then, the decision of either to go it alone or hire staff … and if so, who and why?
Year one was the toughest of all my years for me. I started with no money and no business. I followed the rules, so it was challenging. And, I knew NOTHING about business. I was creative and people-driven, and I knew how to design and produce a great event. But I didn't know anything about insurance, taxes, payroll and all the nuts and bolts. So that part was difficult, and I paid the penalty. I didn't pay payroll taxes. I didn't know I had to. So: the solution was that I very quickly surrounded myself with people who knew what I didn’t! As my staff grew (and I have a large team today), it became essential for me to learn to manage employees. Those of us in the trenches know that hiring and firing (and all the mistakes and mishaps that go along with it) is tough, and quite frankly, isn’t my forte. During lean years, (recessions, etc.) downsizing was heart wrenching. For those who think the boss likes to let someone go, think again. It is a huge responsibility to impact another person’s life in a negative manner. It’s something with which I’ve never felt comfortable.
The Prerequisites of a Good Manager
From my years of experience, I’ve learned that being fair is critical.
Imperative qualities are:
• being respectful;
• being open minded;
• listening to your team; and
• being able to act responsibly and unemotionally to the decisions that need to be made.
Being a founder/president doesn’t automatically qualify anyone to be a manager. A manager by definition "manages." A founder/president is a figurehead that has taken the leap of faith to dream, develop and stand behind what the company stands for. It is that founder’s responsibility to relate that “dream” to the team and assure that it survives and thrives. For me, I’ve had to learn to manage along the way.
Over the years, I’ve learned that managing employees means making decisions quickly. A very learned colleague told me that the very first time you entertain the thought of firing someone is the time to do it. I am not capable of that. I waffle and wait forever. I encourage you to do as I say and not what I do!
Let’s face it, dealing with all aspects of employees from hiring the right people, training them, and then holding them accountable to do their jobs, meet their goals, and earn their salaries are the most difficult of all management issues. My fellow executives will shake their heads in the affirmative when I say that more time than I would like to recount has been spent just dealing with employee issues. So, during the hiring process, make your job easier by employing people who not only can handle the job description but are loyal, dependable, predictable, reliable, honest and have integrity. And check references!
The Keys to Running a Successful Business
The buck stops with me. It is necessary for me to balance the strategic, financial, marketing/sales, operational and personnel requirements of the business. Luckily, nowadays I share that with my partner (who is also my son). Ultimately, I always feel responsible for anything my employees do or say.
Here are some of the critical elements:
• From my perspective, I’ve been able to maintain a successful business for 25 years by getting up every day and committing to doing anything and everything that supports the business 100 percent, no matter what it takes.
• Never expect anyone else to do what you yourself are not willing to do. That’s how you build loyalty. Though I might be the first out the door on occasion, I then continue working remotely as long as any of my employees is working as well. At one of my events, I'm there until the bitter end.
• Treat employees fairly and respectfully and be a good role model. This goes a long way to retaining great employees.
• Allow your employees the opportunity to be intrapreneurial. Let them own their own accounts and make decisions responsibly.
• In favorable times, open your books and profit share. Money is the best incentive in the event business. Probably in most any business.
• Know what marketing/promotion techniques work best for your company. For Extraordinary Events, we’ve found that advertising doesn’t work. “Presence” works for us. By that I mean attending industry events, speaking at them, writing blogs and articles for publication.
• Hire the best money can buy, both for internal and external staff. That means lawyers and accountants, too.
• Behave ethically at all times.
• Treat everyone including your own staff as you would your best client.
In hindsight, if I could do it all over again, I would only change one thing. I would never completely give up my visibility with any client. Though I believe in empowerment, if a client is only interacting with one of my employees, and that employee leaves, I have no one but myself to blame if that client leaves as well. So I would remain actively involved with all of my company's clients at least on an executive level.
And one more piece of advice. Don’t be afraid to share with your peers in the business. Every day is a learning process. We can all learn from each others’ successes and failures, insights and lessons. Some of my competitors are great friends, and sharing with them has been one of my most treasured accomplishments.
Andrea Michaels is the founder and president of Extraordinary Events, an international meeting and event planning and production company. EE is the winner of more than 50 Special Events Gala awards among other significant industry awards. She was recognized with SEM’s one-time-only “Pillar of the Industry” award in 2014. In addition, Andrea is a published author and often-requested speaker. Her book, Reflections of a Successful Wallflower - Lessons in Business; Lessons in Life has earned kudos from the events industry and beyond. To learn more about Extraordinary Events, visit: http://www.extraordinaryevents.net. Contact Andrea via amichaels@extraordinaryevents.net.
So, for the purposes of this article, let’s start from the beginning. If you are like me, I found that the toughest obstacle in launching my business was defining who I wanted to be and why. I had to define my skill set. If you came from another company to launch your own, as I did, it’s imperative to consider legally and ethically how you can promote yourself. How do you get the word out that you are in business without causing your former company harm? And then, the decision of either to go it alone or hire staff … and if so, who and why?
Year one was the toughest of all my years for me. I started with no money and no business. I followed the rules, so it was challenging. And, I knew NOTHING about business. I was creative and people-driven, and I knew how to design and produce a great event. But I didn't know anything about insurance, taxes, payroll and all the nuts and bolts. So that part was difficult, and I paid the penalty. I didn't pay payroll taxes. I didn't know I had to. So: the solution was that I very quickly surrounded myself with people who knew what I didn’t! As my staff grew (and I have a large team today), it became essential for me to learn to manage employees. Those of us in the trenches know that hiring and firing (and all the mistakes and mishaps that go along with it) is tough, and quite frankly, isn’t my forte. During lean years, (recessions, etc.) downsizing was heart wrenching. For those who think the boss likes to let someone go, think again. It is a huge responsibility to impact another person’s life in a negative manner. It’s something with which I’ve never felt comfortable.
The Prerequisites of a Good Manager
From my years of experience, I’ve learned that being fair is critical.
Imperative qualities are:
• being respectful;
• being open minded;
• listening to your team; and
• being able to act responsibly and unemotionally to the decisions that need to be made.
Being a founder/president doesn’t automatically qualify anyone to be a manager. A manager by definition "manages." A founder/president is a figurehead that has taken the leap of faith to dream, develop and stand behind what the company stands for. It is that founder’s responsibility to relate that “dream” to the team and assure that it survives and thrives. For me, I’ve had to learn to manage along the way.
Over the years, I’ve learned that managing employees means making decisions quickly. A very learned colleague told me that the very first time you entertain the thought of firing someone is the time to do it. I am not capable of that. I waffle and wait forever. I encourage you to do as I say and not what I do!
Let’s face it, dealing with all aspects of employees from hiring the right people, training them, and then holding them accountable to do their jobs, meet their goals, and earn their salaries are the most difficult of all management issues. My fellow executives will shake their heads in the affirmative when I say that more time than I would like to recount has been spent just dealing with employee issues. So, during the hiring process, make your job easier by employing people who not only can handle the job description but are loyal, dependable, predictable, reliable, honest and have integrity. And check references!
The Keys to Running a Successful Business
The buck stops with me. It is necessary for me to balance the strategic, financial, marketing/sales, operational and personnel requirements of the business. Luckily, nowadays I share that with my partner (who is also my son). Ultimately, I always feel responsible for anything my employees do or say.
Here are some of the critical elements:
• From my perspective, I’ve been able to maintain a successful business for 25 years by getting up every day and committing to doing anything and everything that supports the business 100 percent, no matter what it takes.
• Never expect anyone else to do what you yourself are not willing to do. That’s how you build loyalty. Though I might be the first out the door on occasion, I then continue working remotely as long as any of my employees is working as well. At one of my events, I'm there until the bitter end.
• Treat employees fairly and respectfully and be a good role model. This goes a long way to retaining great employees.
• Allow your employees the opportunity to be intrapreneurial. Let them own their own accounts and make decisions responsibly.
• In favorable times, open your books and profit share. Money is the best incentive in the event business. Probably in most any business.
• Know what marketing/promotion techniques work best for your company. For Extraordinary Events, we’ve found that advertising doesn’t work. “Presence” works for us. By that I mean attending industry events, speaking at them, writing blogs and articles for publication.
• Hire the best money can buy, both for internal and external staff. That means lawyers and accountants, too.
• Behave ethically at all times.
• Treat everyone including your own staff as you would your best client.
In hindsight, if I could do it all over again, I would only change one thing. I would never completely give up my visibility with any client. Though I believe in empowerment, if a client is only interacting with one of my employees, and that employee leaves, I have no one but myself to blame if that client leaves as well. So I would remain actively involved with all of my company's clients at least on an executive level.
And one more piece of advice. Don’t be afraid to share with your peers in the business. Every day is a learning process. We can all learn from each others’ successes and failures, insights and lessons. Some of my competitors are great friends, and sharing with them has been one of my most treasured accomplishments.
Andrea Michaels is the founder and president of Extraordinary Events, an international meeting and event planning and production company. EE is the winner of more than 50 Special Events Gala awards among other significant industry awards. She was recognized with SEM’s one-time-only “Pillar of the Industry” award in 2014. In addition, Andrea is a published author and often-requested speaker. Her book, Reflections of a Successful Wallflower - Lessons in Business; Lessons in Life has earned kudos from the events industry and beyond. To learn more about Extraordinary Events, visit: http://www.extraordinaryevents.net. Contact Andrea via amichaels@extraordinaryevents.net.
July 31, 2014
How to Do Business in the Future – Part 4 – The Laws of Attraction for Events
Use simple and clear messaging that influences (not just informs) potential customers.
Per Guy Kawasaki; niche thyself. The holy grail of innovation is to create a product that is unique and valuable. When you do so, you make meaning, margin and history. So if you can create a mantra that explains what you do in three to four words (he says Nike's should be 'authentic athletic performance') then you influence and explain to people why you exist.
Example; you could say, "The audio visual elements consist of two screens, etc." and that is giving them information. If you say instead, “When you use the first class AV equipment that we are recommending, you will be showing your audience that you are a first- class company that values its clients so much that you use only the best, the most current, and the most reliable equipment available.” That is "influencing."
I remember a pitch to an automotive client. I asked if they would answer a question before my presentation. They agreed, and I asked, “what defines your product?' They replied: “Reliability,' 'safety' and 'reputation.” I then responded, “That's what we have in common. You did not identify 'cheapest." And then I continued to show them examples of that commonality without once addressing budget.
Don’t use meaningless words such as, “We are passionate about our product.” I’ve made this point before, but it bears repetition. Everyone says this. And it should be a given. Of course you are passionate about what you do. If you weren't, you'd be in the wrong business. Every word should be one that matters and sets you apart. I always think of the great jazz musician Miles David who said the true genius of his music is in the notes he doesn't play. Don't talk yourself into a corner. After a while no one will listen. Just be short and clear.
Find out what your customers watch, read, and where they go out to eat, travel, etc. You need to relate to the passions of your client, especially the decision makers. Look at what is on their desks. Photos of family? What kind of photos? Are they on their boat? Is there a picture of a young ballerina? A football player? That's the beginning of a great conversation.
What kind of art is on their walls? When you suggest lunch, what kind of food do they want? Where do they go on vacation? Learn who they are and relate to them on that level. Build a relationship with them. Don’t just think of them as a dollar sign.
Identify the value drivers for your customers. This is a silly story, but a valuable one. Many years ago I was working with a client from the U.K. and kept suggesting various options in decor and theming for the company’s gala dinner. Nothing seemed to appeal to him. On a walk-through with the client's wife I asked, "What are you planning to wear for the event?" She replied, "I am having a gold dress made for the event." I then suggested that we create an event entirely in gold, and when she poked her husband in the arm and smiled, I knew we had found what we needed.
Now that might not be a legitimate value driver. But if on your client’s desk or cabinet you see a plaque that honors him or her for charity work, you might want to take that seriously and dig deeper into his or her passions and commitments. Or if there are dozens of family photos, then assume you are talking to a person with family values and aim at constructing an event that plays to those values.
Remind your clients about the risks of making a poor decision. I have a favorite phrase for this. “Who do you want to be in the trenches with when something goes wrong?” Something almost always goes wrong. It's what you do when that happens that can make you or break you. For instance, when faced with unexpected gale force winds that made it impossible to hold a beach party, we found a new outdoor venue that was more sheltered, put up a beautiful tent and quickly redesigned an entire party in a matter of three hours. That comes from experience. A company without experience or resources will not be able to fix a problem. Flexibility, good resources, and a calm demeanor are offerings not everyone has. I use as an example: if you needed brain surgery, would you go to the surgeon who has years of successful operations or the recent graduate from medical school who got a 4.0?
Don’t sell … SHARE … this is the time of the “Sharing Economy.” We used to sell “the experience economy." But now we're into the decade of “the sharing economy.” That's why social media is so successful. There are no longer any secrets. An idea like crowd-sourcing as a way of creating events is very "today." Flash mobs are about getting
everyone invested into one activity.
Nothing attracts a crowd like a crowd. Nothing attracts a prospect like knowing that known and respected companies want to work with you, so share that. According to my friend, Colja Dams, president of Vok Dams Agency, “This is an era of word-of-mouth in 3-d.”
In addition, keep in mind a quote from Norman Drummond of Drummond International, “There are no limits to what we can accomplish as long as we don't mind who gets the credit.” So think; do you want the business or the recognition?
Ask "What can we do to make it easier to do business with us?" And what else?
These are the questions everyone should ask. Realize that the end product will not be appreciated if the process of getting there has been difficult or unpleasant. Your clients will tell you when you ask this way. Do you call too often? Do you send 15 separate emails when one with all the questions asked at once would be better for them? Did you assign a surrogate to produce their event when they thought they were getting you?
And the "what else" is equally important. At the point of design where you think you've given as much as they have asked for, ask "what else" would make them happy.
Show your expertise to potential clients. Google what terms your clients could be searching under and get yourself on the first page of that topic. Offer to write articles in publications your clients read. Give presentations at conferences your customers attend. Create a blog that would be of interest to your clients. Take articles that you read in print or on line that they might be interested in and share them. Do this even if there is no current project. Show that you listen to them and value them. And ... Never hit the “send button” too quickly.
Always aim for the highest ground possible and take the high ground. Do not get involved in the taboo subjects of politics, religion, etc.
Remember: “You are not competing with your competitors. You are competing for people’s time. You can only do this if you value them and their time and show them respect and consideration. Then, they will give you their time.” –Colja Dams
Andrea Michaels is the president of multiple award-winning Extraordinary Events and the author of Reflections of a Successful Wallflower – Lessons in Business; Lessons in Life and co-author of a number of other business books.
Per Guy Kawasaki; niche thyself. The holy grail of innovation is to create a product that is unique and valuable. When you do so, you make meaning, margin and history. So if you can create a mantra that explains what you do in three to four words (he says Nike's should be 'authentic athletic performance') then you influence and explain to people why you exist.
Example; you could say, "The audio visual elements consist of two screens, etc." and that is giving them information. If you say instead, “When you use the first class AV equipment that we are recommending, you will be showing your audience that you are a first- class company that values its clients so much that you use only the best, the most current, and the most reliable equipment available.” That is "influencing."
I remember a pitch to an automotive client. I asked if they would answer a question before my presentation. They agreed, and I asked, “what defines your product?' They replied: “Reliability,' 'safety' and 'reputation.” I then responded, “That's what we have in common. You did not identify 'cheapest." And then I continued to show them examples of that commonality without once addressing budget.
Don’t use meaningless words such as, “We are passionate about our product.” I’ve made this point before, but it bears repetition. Everyone says this. And it should be a given. Of course you are passionate about what you do. If you weren't, you'd be in the wrong business. Every word should be one that matters and sets you apart. I always think of the great jazz musician Miles David who said the true genius of his music is in the notes he doesn't play. Don't talk yourself into a corner. After a while no one will listen. Just be short and clear.
Find out what your customers watch, read, and where they go out to eat, travel, etc. You need to relate to the passions of your client, especially the decision makers. Look at what is on their desks. Photos of family? What kind of photos? Are they on their boat? Is there a picture of a young ballerina? A football player? That's the beginning of a great conversation.
What kind of art is on their walls? When you suggest lunch, what kind of food do they want? Where do they go on vacation? Learn who they are and relate to them on that level. Build a relationship with them. Don’t just think of them as a dollar sign.
Identify the value drivers for your customers. This is a silly story, but a valuable one. Many years ago I was working with a client from the U.K. and kept suggesting various options in decor and theming for the company’s gala dinner. Nothing seemed to appeal to him. On a walk-through with the client's wife I asked, "What are you planning to wear for the event?" She replied, "I am having a gold dress made for the event." I then suggested that we create an event entirely in gold, and when she poked her husband in the arm and smiled, I knew we had found what we needed.
Now that might not be a legitimate value driver. But if on your client’s desk or cabinet you see a plaque that honors him or her for charity work, you might want to take that seriously and dig deeper into his or her passions and commitments. Or if there are dozens of family photos, then assume you are talking to a person with family values and aim at constructing an event that plays to those values.
Remind your clients about the risks of making a poor decision. I have a favorite phrase for this. “Who do you want to be in the trenches with when something goes wrong?” Something almost always goes wrong. It's what you do when that happens that can make you or break you. For instance, when faced with unexpected gale force winds that made it impossible to hold a beach party, we found a new outdoor venue that was more sheltered, put up a beautiful tent and quickly redesigned an entire party in a matter of three hours. That comes from experience. A company without experience or resources will not be able to fix a problem. Flexibility, good resources, and a calm demeanor are offerings not everyone has. I use as an example: if you needed brain surgery, would you go to the surgeon who has years of successful operations or the recent graduate from medical school who got a 4.0?
Don’t sell … SHARE … this is the time of the “Sharing Economy.” We used to sell “the experience economy." But now we're into the decade of “the sharing economy.” That's why social media is so successful. There are no longer any secrets. An idea like crowd-sourcing as a way of creating events is very "today." Flash mobs are about getting
everyone invested into one activity.
Nothing attracts a crowd like a crowd. Nothing attracts a prospect like knowing that known and respected companies want to work with you, so share that. According to my friend, Colja Dams, president of Vok Dams Agency, “This is an era of word-of-mouth in 3-d.”
In addition, keep in mind a quote from Norman Drummond of Drummond International, “There are no limits to what we can accomplish as long as we don't mind who gets the credit.” So think; do you want the business or the recognition?
Ask "What can we do to make it easier to do business with us?" And what else?
These are the questions everyone should ask. Realize that the end product will not be appreciated if the process of getting there has been difficult or unpleasant. Your clients will tell you when you ask this way. Do you call too often? Do you send 15 separate emails when one with all the questions asked at once would be better for them? Did you assign a surrogate to produce their event when they thought they were getting you?
And the "what else" is equally important. At the point of design where you think you've given as much as they have asked for, ask "what else" would make them happy.
Show your expertise to potential clients. Google what terms your clients could be searching under and get yourself on the first page of that topic. Offer to write articles in publications your clients read. Give presentations at conferences your customers attend. Create a blog that would be of interest to your clients. Take articles that you read in print or on line that they might be interested in and share them. Do this even if there is no current project. Show that you listen to them and value them. And ... Never hit the “send button” too quickly.
Always aim for the highest ground possible and take the high ground. Do not get involved in the taboo subjects of politics, religion, etc.
Remember: “You are not competing with your competitors. You are competing for people’s time. You can only do this if you value them and their time and show them respect and consideration. Then, they will give you their time.” –Colja Dams
Andrea Michaels is the president of multiple award-winning Extraordinary Events and the author of Reflections of a Successful Wallflower – Lessons in Business; Lessons in Life and co-author of a number of other business books.
How to Do Business in the Future – Part 3 – Creative Marketing
In Part 1 of this series, we took stock of your business. Part 2 addressed thoughts on expanding your business. In Part 3, let’s examine some creative marketing ideas that will be a catalyst for new ways of marketing your business.
The best ideas come from outside of your own company. Once again, this comes from the advice of Muhtar Kent, CEO of Coca Cola. When asked what true innovation means, he said “the best ideas come from outside of your company.” He said that in order to incubate ideas you need to learn from without, and not only from within. My interpretation was that we can get set in our ways, and when we expand our community of ideators, we generate innovation at an entirely new level. Once again, we are not everything to everybody and need to embrace the sharing community. If you want to learn how to launch a product, ask its customers not only its designers. Put together a thought group and ask them to tell you who they think you are. You might be surprised. And for sure you'll learn how to market yourself to make sure that you are representing your reality and not only perceptions.
Read everything. Attend everything. Go to every conference. LEARN constantly.
I learn something new every day. Ideas come from looking at what others are doing, listening to them, learning from them, seeing whatever everyone in the industry is doing, adding to my arsenal. Many of the points made in this blog and the ones that preceded it are from speakers I've listened to all over the world. The Internet is far more useful than Facebook and Twitter. Read the news. Read the business section. Everything.
If you are going after a conference or an incentive program, or a trade show, or anything that is a repeat program, attend a prior program and take great notes; come up with what was good and what could be improved. If you want to market yourself appropriately, there is no better way than to understand the specific needs of your client and then market to deliver upon those needs.
Steal great ideas.A favorite story. Many years ago I attended a play, "Tamara," in which all the guests participated in the story by following the characters room to room. I took that idea and incorporated it into an opening where a hotel wanted to show off all of its event spaces. Each guest had to go from room to room with a wandering cast of zany characters in order to solve a mystery and win a hotel stay.
When I teach classes in events and I say "steal," many are shocked. But this is what I mean by that: if you see a production or a theme that you love, take the pieces that you love and add your own unique spin to them. Don't copy in entirety. Once an event becomes public, it is fair game (after all, it is entered for awards; it is publicized in print and on social media ... it is no longer confidential or proprietary).
I could not claim "inventing" theme parties. Seems to me that long before I did a toga party, Nero probably hosted one, right?
Collaborate with your competitors and share ... make the first overture; they are bound to reciprocate. I have major competitors, and I freely call on them (as they do me) for advice, for talent referrals, for just about everything. If I'm working in a new market (or they are), we share resources. Once a long time ago a very good speaker shared that when you go first and offer this overture the response is frequently, "Thank you for doing this for me." Your response should be, "You're welcome. I know you would do the same for me." And they will. Always.
What does this have to do with marketing? Being trustworthy and well-connected has great bragging rights, and if your competitors speak well of you, it's the best endorsement you can get.
Give your customer something he doesn’t even know he wants. Deliver an experience, not just a product, or an event. In the words of strategist Stefan Thomke, "if you don't start with something insanely great, you can never end at excellent." Don't be afraid to offer up something crazy, dramatic, theatrical, or off the wall. It might not be the end product, but it's a starting point to showcase how you think. You might be asked to deliver a booth at a trade show, but if you show your customer an unusual idea that drives visitors to his booth, you've delivered far more value. Think beyond the obvious.
Seize opportunities to create a brand image.Once upon a time the mobile phone (clunky as it was) was invented. But what do we now think of as the iconic mobile phone? I'll bet we all say it's the Iphone. What were the challenges in marketing this to a mass market and delivering something beyond the obvious?
Use Apple as an example to really analyze why the Apple stores work, why the packaging works. It is all about simplicity. It creates a sense of "what's next?" Think about how and why Apple created a Genius Bar in its stores. The brand has created a culture where people will buy their product without ever seeing it. Imagine if we could do the same: if we were an entity so trusted that we didn't have to create proposals, renderings, etc.
You need the character of your company to be in line with what your customer needs it to be. If you are working toward establishing a corporate clientele, then bragging about celebrity events or showing a million dollar wedding won't sell your brand. Everyone in the company has to buy into your vision, and it needs to be one vision that is adapted in everything you do.
Many years ago, when my good friend, legendary John Daly, was just breaking into the event design business, he got a shot at pitching Delta Airlines. John, a designer with a lot of passion, liked to dress in purple silk shirts and jeans with multi colored socks with red shoes. Before his impending presentation, he did some research and discovered that everyone in the organization wore a suit and tie. So, the morning of the presentation, he wore a nice suit, shirt and tie (and matching socks) and walked into the Delta conference room totally fitting into his customer’s environment. Soon, with his booming voice and waving hands, he had them excited about what he could create for them. And, he nailed the business. He walked in dressed exactly as the customer needed him to be, and his great ideas clinched the rest for him.
It is not about “getting out of your comfort zone;” it’s about never even having a comfort zone. No explanation needed.
Be remarkable and impossible to ignore.
Everyone in the industry knows Steve Kemble. He is now a brand. He was not always a brand. Along the way, he decided who he wanted to be, and then followed a path until he became that brand to the world. What are YOU doing that is so different that people will always know it is YOU? Think of your brand as a "branding iron" that sears your image not only as a graphic design.
Be the best choice for one thing. What category do YOU own in mindshare?
Once you’ve determined this, work it!
Remember to be very conservative on all social media - someone is always watching and judging. I am "friends" on Facebook with a person who every day posts a story about how she lost out on a job she coveted. Now would I hire her knowing she did that? I check Facebook not just for gossip, recipes and photos of pets. I look to learn the character of the people who want to hire me or want to be hired by me. My brand is not about partying, so I won't hire someone who posts about behaving inappropriately for any reason.
Being good is not a reason to do business with you.Everyone says they are good (or the best); therefore, your prospect has no choice but to go for the lowest price. Give them a real reason to go with you.
To what question are YOU the answer?
Try that one on for size because when you have the answer you'll know what your true expertise is.
In Part 4, the final article in this series, we will find ways to describe your business.
The best ideas come from outside of your own company. Once again, this comes from the advice of Muhtar Kent, CEO of Coca Cola. When asked what true innovation means, he said “the best ideas come from outside of your company.” He said that in order to incubate ideas you need to learn from without, and not only from within. My interpretation was that we can get set in our ways, and when we expand our community of ideators, we generate innovation at an entirely new level. Once again, we are not everything to everybody and need to embrace the sharing community. If you want to learn how to launch a product, ask its customers not only its designers. Put together a thought group and ask them to tell you who they think you are. You might be surprised. And for sure you'll learn how to market yourself to make sure that you are representing your reality and not only perceptions.
Read everything. Attend everything. Go to every conference. LEARN constantly.
I learn something new every day. Ideas come from looking at what others are doing, listening to them, learning from them, seeing whatever everyone in the industry is doing, adding to my arsenal. Many of the points made in this blog and the ones that preceded it are from speakers I've listened to all over the world. The Internet is far more useful than Facebook and Twitter. Read the news. Read the business section. Everything.
If you are going after a conference or an incentive program, or a trade show, or anything that is a repeat program, attend a prior program and take great notes; come up with what was good and what could be improved. If you want to market yourself appropriately, there is no better way than to understand the specific needs of your client and then market to deliver upon those needs.
Steal great ideas.A favorite story. Many years ago I attended a play, "Tamara," in which all the guests participated in the story by following the characters room to room. I took that idea and incorporated it into an opening where a hotel wanted to show off all of its event spaces. Each guest had to go from room to room with a wandering cast of zany characters in order to solve a mystery and win a hotel stay.
When I teach classes in events and I say "steal," many are shocked. But this is what I mean by that: if you see a production or a theme that you love, take the pieces that you love and add your own unique spin to them. Don't copy in entirety. Once an event becomes public, it is fair game (after all, it is entered for awards; it is publicized in print and on social media ... it is no longer confidential or proprietary).
I could not claim "inventing" theme parties. Seems to me that long before I did a toga party, Nero probably hosted one, right?
Collaborate with your competitors and share ... make the first overture; they are bound to reciprocate. I have major competitors, and I freely call on them (as they do me) for advice, for talent referrals, for just about everything. If I'm working in a new market (or they are), we share resources. Once a long time ago a very good speaker shared that when you go first and offer this overture the response is frequently, "Thank you for doing this for me." Your response should be, "You're welcome. I know you would do the same for me." And they will. Always.
What does this have to do with marketing? Being trustworthy and well-connected has great bragging rights, and if your competitors speak well of you, it's the best endorsement you can get.
Give your customer something he doesn’t even know he wants. Deliver an experience, not just a product, or an event. In the words of strategist Stefan Thomke, "if you don't start with something insanely great, you can never end at excellent." Don't be afraid to offer up something crazy, dramatic, theatrical, or off the wall. It might not be the end product, but it's a starting point to showcase how you think. You might be asked to deliver a booth at a trade show, but if you show your customer an unusual idea that drives visitors to his booth, you've delivered far more value. Think beyond the obvious.
Seize opportunities to create a brand image.Once upon a time the mobile phone (clunky as it was) was invented. But what do we now think of as the iconic mobile phone? I'll bet we all say it's the Iphone. What were the challenges in marketing this to a mass market and delivering something beyond the obvious?
Use Apple as an example to really analyze why the Apple stores work, why the packaging works. It is all about simplicity. It creates a sense of "what's next?" Think about how and why Apple created a Genius Bar in its stores. The brand has created a culture where people will buy their product without ever seeing it. Imagine if we could do the same: if we were an entity so trusted that we didn't have to create proposals, renderings, etc.
You need the character of your company to be in line with what your customer needs it to be. If you are working toward establishing a corporate clientele, then bragging about celebrity events or showing a million dollar wedding won't sell your brand. Everyone in the company has to buy into your vision, and it needs to be one vision that is adapted in everything you do.
Many years ago, when my good friend, legendary John Daly, was just breaking into the event design business, he got a shot at pitching Delta Airlines. John, a designer with a lot of passion, liked to dress in purple silk shirts and jeans with multi colored socks with red shoes. Before his impending presentation, he did some research and discovered that everyone in the organization wore a suit and tie. So, the morning of the presentation, he wore a nice suit, shirt and tie (and matching socks) and walked into the Delta conference room totally fitting into his customer’s environment. Soon, with his booming voice and waving hands, he had them excited about what he could create for them. And, he nailed the business. He walked in dressed exactly as the customer needed him to be, and his great ideas clinched the rest for him.
It is not about “getting out of your comfort zone;” it’s about never even having a comfort zone. No explanation needed.
Be remarkable and impossible to ignore.
Everyone in the industry knows Steve Kemble. He is now a brand. He was not always a brand. Along the way, he decided who he wanted to be, and then followed a path until he became that brand to the world. What are YOU doing that is so different that people will always know it is YOU? Think of your brand as a "branding iron" that sears your image not only as a graphic design.
Be the best choice for one thing. What category do YOU own in mindshare?
Once you’ve determined this, work it!
Remember to be very conservative on all social media - someone is always watching and judging. I am "friends" on Facebook with a person who every day posts a story about how she lost out on a job she coveted. Now would I hire her knowing she did that? I check Facebook not just for gossip, recipes and photos of pets. I look to learn the character of the people who want to hire me or want to be hired by me. My brand is not about partying, so I won't hire someone who posts about behaving inappropriately for any reason.
Being good is not a reason to do business with you.Everyone says they are good (or the best); therefore, your prospect has no choice but to go for the lowest price. Give them a real reason to go with you.
To what question are YOU the answer?
Try that one on for size because when you have the answer you'll know what your true expertise is.
In Part 4, the final article in this series, we will find ways to describe your business.
Expanding Your Business
We took stock of your company in Part 1. Now, let’s think through ideas to expand it.
Find the one thing at which you are best.
Instead of being the everything to everybody, make a decision. Define specifically at what you are best. That doesn't mean that's all you do, but you need to create a focus. Are you the best spatial planner there is? Do you know how to drape fabric better than anyone? What is that one special thing no one can do better than you?
Set goals for securing certain clients and pursue them. In the last blog we talked about following your passion. So begin with this. Do you read every automotive journal that comes out? Do you Google every bit of info about sports? Then move to the next step. Set a goal to find out everything you can about three companies within that industry and then find a way to contact them. If you are armed with information on what they do and how they do it, they will be more receptive to you. Do you know anyone that they know who can leverage an introduction? And be creative and go to them with something they don't currently do that you can do for them.
Build on existing clients. Business is not always about finding a new client. Take one you have and find out if there are other people in that company who can use your services and ask them for a personal introduction. One of the best pieces of advice I ever received was from industry legend, Pat Ryan (Party Planners West), who said, "I don't search for new clients; I find ways to grow the ones I already know."
Hire the best, even if you think you can’t afford it at the time. Never sacrifice quality for budget as it will bite you in the end. It may be good enough for the "now" but if you are using your events as marketing materials for the future, you want the best there is to showcase. Never sacrifice a good photographer or videographer for one that is cheapest. And not only product, but the people who produce it. A good lawyer will give you great advice. You might find one that costs less, but not get the same results. Do you really want to hire an accountant who will not give you the best financial advice? It's the same for your internal team. The better the employee (with experience, with work ethic) the more value and efficiency you get. Ultimately it is a cost savings. And the more professional your team is, the more highly you'll be valued.
Hire a trend scout part-time or assign a certain part of a week to an existing employee who is qualified to be one.
My dear friend, Colja Dams of Vok Dams in Germany, introduced this idea to me, and I thought it was brilliant. In all of his many offices, he has one person whose sole job is to research and find trends. The teams from all offices then talk about their new directions and introduce these trends to their clients. Be ahead of the trend, not following it.
Hire a 14 year old and ask him to develop your social media plan.
As much as we think we know about technology and "what's next," we know nothing compared to the younger generation. So utilize a very bright student and find out what they are doing and why, and model yourself after that. (Be sure to research and follow labor laws for employing minors in your individual state.)
Understand fulfillment vs. strategy. Be a strategic part of your clients' plans.
Merely picking up the phone and servicing a client who places an order is what I call fulfillment. If this is what you do, this is what you always will do. However, when you begin to show your clients that you understand and can be a part of their strategy, then you become indispensable. When you fulfill, you are a vendor. When you strategize, you are a team member. Per Christine Corelli, business columnist, author and speaker: “Where many companies go wrong is that they rely on market research alone to identify value drivers instead of going directly to the source.”
Be proactive in suggesting marketing events to your clients. Create events for them. When Mini first asked us to do a series of "hybrid events," I had no clue what they were as the concept was untraditional. Yet it was an amazing marketing concept which I was then able to introduce to my other clients as a very inexpensive way to use influencers and social media to market their products.
Develop alternative solutions to finding business. For example, I went to conferences in Germany and in India (to name a few places) and gave educational seminars; the result was that I found new clients no one else was pursuing.
I recently read an article by Guy Kawasaki on "The Art of Innovation," and I quote: Make meaning: Determine how you can change the worldto do something that is truly meaningful. Apple democratized computers. Google democratized information. eBay wanted to democratize commerce. These companies made meaning, and by making meaning, they also ended up making money.
(Use as an enlarged quote) “Be at the point of need, not at the point of repair.” –Master Educator, Norman Drummond
Be the one they'll remember.
I heard Sir Sebastian Coe, Chair of the 2012 Summer Olympics and legendary runner, say, “Be the one they’ll remember.” It meant that you had to create your own market space. Do not do things the same way everyone else does. Be bold, challenging and find solutions. Be unorthodox and re-invent.
At first meeting or proposal stage, find a common connector. Do not "pitch" in the same way everyone else does. Show that you understand their business and their strategies. Do not refer to yourself as their partner. You're not. Yet. They won't remember you for bringing bagels. They will remember you for being able to listen to them and deliver what they've asked for because you have listened.Provide such exceptional service and value (and point it out) that they will remember you. Do more than you are asked to do. Be extraordinary.
Think in multiple years … where do you want to be five years from now? Plan accordingly. As Muhtar Kent, the CEO of Coca Cola has said, “Success is making a promise to the future without knowing the pre-determined outcome.”
Form a close knit community of advisors.
I have a group of clients, competitors and vendors that I ask advice of all the time. I reach out internationally to discuss best (and worst) business practices. I also have a psychologist on call who helps me craft difficult correspondence or replies to sticky situations. I have a corporate attorney and CPA who guide me through legalities and finances. Makes sense, doesn’t it?
Next time, let’s do some creative marketing.
Find the one thing at which you are best.
Instead of being the everything to everybody, make a decision. Define specifically at what you are best. That doesn't mean that's all you do, but you need to create a focus. Are you the best spatial planner there is? Do you know how to drape fabric better than anyone? What is that one special thing no one can do better than you?
Set goals for securing certain clients and pursue them. In the last blog we talked about following your passion. So begin with this. Do you read every automotive journal that comes out? Do you Google every bit of info about sports? Then move to the next step. Set a goal to find out everything you can about three companies within that industry and then find a way to contact them. If you are armed with information on what they do and how they do it, they will be more receptive to you. Do you know anyone that they know who can leverage an introduction? And be creative and go to them with something they don't currently do that you can do for them.
Build on existing clients. Business is not always about finding a new client. Take one you have and find out if there are other people in that company who can use your services and ask them for a personal introduction. One of the best pieces of advice I ever received was from industry legend, Pat Ryan (Party Planners West), who said, "I don't search for new clients; I find ways to grow the ones I already know."
Hire the best, even if you think you can’t afford it at the time. Never sacrifice quality for budget as it will bite you in the end. It may be good enough for the "now" but if you are using your events as marketing materials for the future, you want the best there is to showcase. Never sacrifice a good photographer or videographer for one that is cheapest. And not only product, but the people who produce it. A good lawyer will give you great advice. You might find one that costs less, but not get the same results. Do you really want to hire an accountant who will not give you the best financial advice? It's the same for your internal team. The better the employee (with experience, with work ethic) the more value and efficiency you get. Ultimately it is a cost savings. And the more professional your team is, the more highly you'll be valued.
Hire a trend scout part-time or assign a certain part of a week to an existing employee who is qualified to be one.
My dear friend, Colja Dams of Vok Dams in Germany, introduced this idea to me, and I thought it was brilliant. In all of his many offices, he has one person whose sole job is to research and find trends. The teams from all offices then talk about their new directions and introduce these trends to their clients. Be ahead of the trend, not following it.
Hire a 14 year old and ask him to develop your social media plan.
As much as we think we know about technology and "what's next," we know nothing compared to the younger generation. So utilize a very bright student and find out what they are doing and why, and model yourself after that. (Be sure to research and follow labor laws for employing minors in your individual state.)
Understand fulfillment vs. strategy. Be a strategic part of your clients' plans.
Merely picking up the phone and servicing a client who places an order is what I call fulfillment. If this is what you do, this is what you always will do. However, when you begin to show your clients that you understand and can be a part of their strategy, then you become indispensable. When you fulfill, you are a vendor. When you strategize, you are a team member. Per Christine Corelli, business columnist, author and speaker: “Where many companies go wrong is that they rely on market research alone to identify value drivers instead of going directly to the source.”
Be proactive in suggesting marketing events to your clients. Create events for them. When Mini first asked us to do a series of "hybrid events," I had no clue what they were as the concept was untraditional. Yet it was an amazing marketing concept which I was then able to introduce to my other clients as a very inexpensive way to use influencers and social media to market their products.
Develop alternative solutions to finding business. For example, I went to conferences in Germany and in India (to name a few places) and gave educational seminars; the result was that I found new clients no one else was pursuing.
I recently read an article by Guy Kawasaki on "The Art of Innovation," and I quote: Make meaning: Determine how you can change the worldto do something that is truly meaningful. Apple democratized computers. Google democratized information. eBay wanted to democratize commerce. These companies made meaning, and by making meaning, they also ended up making money.
(Use as an enlarged quote) “Be at the point of need, not at the point of repair.” –Master Educator, Norman Drummond
Be the one they'll remember.
I heard Sir Sebastian Coe, Chair of the 2012 Summer Olympics and legendary runner, say, “Be the one they’ll remember.” It meant that you had to create your own market space. Do not do things the same way everyone else does. Be bold, challenging and find solutions. Be unorthodox and re-invent.
At first meeting or proposal stage, find a common connector. Do not "pitch" in the same way everyone else does. Show that you understand their business and their strategies. Do not refer to yourself as their partner. You're not. Yet. They won't remember you for bringing bagels. They will remember you for being able to listen to them and deliver what they've asked for because you have listened.Provide such exceptional service and value (and point it out) that they will remember you. Do more than you are asked to do. Be extraordinary.
Think in multiple years … where do you want to be five years from now? Plan accordingly. As Muhtar Kent, the CEO of Coca Cola has said, “Success is making a promise to the future without knowing the pre-determined outcome.”
Form a close knit community of advisors.
I have a group of clients, competitors and vendors that I ask advice of all the time. I reach out internationally to discuss best (and worst) business practices. I also have a psychologist on call who helps me craft difficult correspondence or replies to sticky situations. I have a corporate attorney and CPA who guide me through legalities and finances. Makes sense, doesn’t it?
Next time, let’s do some creative marketing.
