Gain Business through Promoting your Expertise

One of the toughest tasks for a SME business owner is generating new business. This may be necessary to either replace lost business, or to grow the business itself on the back of consistently increasing the volume of new business, whilst simultaneously minimising the loss of current business.

A common reason why many business owners find the going tough when it comes to new business acquisition, is because they are doing the all of chasing to find the new business, rather than new business seeking them out, to provide the products or services, required to satisfy their needs.

We all know that the cost of acquiring new business via promotions, advertising, direct selling or indirect sales activity can be quite high. We also know that often the budgets available to SME business owners, are not as extensive as usually required, to fund the costs of acquiring a constant flow of new business from such activities.

An alternative way of acquiring new business, is to get the new business to come to you as a consequence of the recognition of your expertise, and the reputation you have established in providing that expertise, to the market. Unfortunately, as good as your expertise and reputation may be, unless the wider market that you wish to serve, is made aware of how good your expertise is, and you then continually reinforce this message at every opportunity, you will forever be chasing new business to maintain momentum in your business enterprise.

There are many cost effective ways to raise your market’s awareness of your particular expertise in producing something for sale or providing a particular service. The important thing is to develop a specific strategy for increasing your profile in your designated market, and then work this strategy until you see your expertise acknowledged via the avenue of business coming directly to you, without you having to be the hunter all of the time.

Steps you can take to promote your expertise in a cost effective way include;

  • Write and publish articles, that demonstrate your expertise, at your own blog site or submit articles to other blogs which cater to your target market,
  • Write and submit articles relevant to your industry to your local paper, relevant industry publications, regular newsletters that circulate in your business community, and as many relevant online forums that seek such content,
  • Volunteer to provide some of your expertise to local community groups or major charities,
  • Volunteer to be a speaker on subjects within your area of expertise at as many local business and local networking groups as you can find,
  • Register your business and detail the expertise you offer on as many of the free online business registers that will help people find you in your customer/client catchment area,
  • Get well structured testimonials that highlight the key elements of your expertise as well as the quality of your products/services and make these as prominent as possible on your website,
  • Ensure that your e-mail signature block highlights your expertise as well as your contact details, and where possible includes a link to the testimonials on your website, and
  • Where you have a telephone system that has the capability of putting callers on hold utilise a message on hold system to ensure they are listening to a message about your expertise whilst they are on hold.

The more ways that you can find to promote your expertise in a cost effective way, the more business you will see by way of direct engagement, and the less hunting you will need to do, to ensure that your business consistently generates new customers/clients.

Are you doing as much as you should be doing to promote your expertise?

What is it currently costing you to acquire a new customer/client?

How much more profitable would your business be if you could reduce this cost yet continue to acquire new customers at a satisfactory rate to continue to grow your business?

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If your business is based in Melbourne Australia, and you need assistance to develop and grow it in order to provide you with a certain level of future prosperity, check out our website http://www.rhodan.com.au and, if you think we can help you, please don't hesitate to contact us.

The Lone Ranger had support; do YOU have enough?

We all know that life as a Business Owner can be tough going. This recognised reality actually works in your favour, as it lessens the competition you face in the market, for your product or service. It also provides you with the opportunity to do well financially, if you are able to surmount the hurdles that you will inevitably face, as you develop and grow your own business.

One of the critical elements that will determine whether or not you will be successful as a business owner, is the degree of support you can engender from others as you travel along the path to eventual success. This external support is absolutely necessary to keep you buoyant and focussed on your objectives, despite the difficulties you will encounter on a daily basis.

The various types of support you will need from others include;

a) Someone to act as a sounding board for you to bounce ideas off and to assist you to evaluate the validity of your ideas before you act on them impetuously, or erroneously,

b) Someone to help you with brainstorming ideas for problem resolution, promoting and marketing your business, development of new products or services, and effectively managing your available resources,

c) Someone who will provide you with continual encouragement to continue to persevere with facing the daily challenges that need to be met to make your business a success,

d) Someone in the same boat as yourself as a business owner to share information, share leads, share celebrations of the small wins you make each week, share the emotional ups and downs that only a fellow business owner will understand, and share the pain when everything doesn’t go as well as planned.

e) Someone who can introduce you into appropriate networks that you need to be part of to gain the required level of exposure in your market, in order to be highly visible to your customers or clients,

f) Someone who is willing to allow you access to their similar business so that you can benchmark your operations against theirs to determine areas for improvement in your own, and

g) Someone who can act as your businesses financial guardian angel to point you in the right direction and to ensure that you don’t make any terminal mistakes in the management of the cash flow of your business.

It is likely that you will need support from a number of different people to ensure you have the support that you require. If you are very lucky, you will find two or three people, who between them, can give you the level of support you need to get your business to the stage where it can then afford to engage professional firms or individual professionals, to provide the support systems that every successful business needs, to enable it to continue to thrive and prosper.

So where do you find the people you need to provide the support to you that can make your difficult role a little easier and provide a greater chance for you to become a successful business owner?

The following list highlights great places to look for the people you can turn to for the necessary levels of support for yourself, as you grow your business;

a) Members of your immediate and extended family,

b) Members of clubs, associations and groups that you belong to or have had previous associations with,

c) Programs for business owners established by your Local Council, State Government Instrumentalities and National Government Departments,

d) Networking Groups specifically set up to support SME business owners,

e) Informal networks of non-competing local business owners in your immediate vicinity, and

f) Social networking sites such as LinkedIn, Facebook, Twitter that have a business focus.

To garnish the support you need you will must be passionate about your business and the outcomes you are trying to achieve, and use the right approach when sounding others out for the level of support you require.

You will usually find that if you approach the right people in the right way, even if you have not had a really strong previous relationship with them, most will, within the bounds of reasonableness, go out of the way to help others, especially if there is any form of reciprocity involved.

Are you acting a little like a modern day Robinson Crusoe?

Do you understand the benefits that the types of support outlined above can deliver to your business?

Will you now develop a plan to ensure you get the level of support you deserve and need?

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New Eyes Rectify SME Blindness

Being a SME business owner can be both lonely and demanding and often this can result in the business owner experiencing the “not being able to see the forest for the trees” syndrome.

One effect of suffering from this quite common affliction is that a SME business owner can start to live wholly in their own world, and eventually lose sight of the bigger, business picture. I call this affliction SME Blindness.

The very nature of business ownership in the SME environment is such that SME business owners often have to severely stretch their personal skill sets, and can find that they are spending most of their time engaged in activities that are far from the best use of their time and abilities, and which tend to bury them deeper and deeper into their own darkening world.

The amount of time engaged in such activities, usually mostly of an operational nature, also makes it harder for the SME business owner to be as strategic in their decision making as they need to be if they want to grow and prosper with their business endeavours, and be well prepared to face greater challenges in the future with their eyes wide open.

In many cases, the business concerned is the owner’s “baby”, and the attachment can be so strong that objective analysis and cutting the umbilical cord when necessary, are almost impossible when the business is not performing as it should, or major changes need to be made to ensure ongoing survival. We all know that no mother ever had an ugly baby, but if you look around, some are definitely better looking than others, but who would ever directly tell a mother that she had an ugly baby.

If your business is not performing to your expectations, perhaps it is now time to bring in an independent pair of fresh eyes to help you to critically look at your business, so that you can gain new perspectives, and can then utilise the insights gained through this process to implement the appropriate changes to re-invigorate your business.

There are many ways you can avail yourself of a fresh pair of eyes for your business, but first you need to determine what will work best for you, your team, and your business.

You should consider your own strengths as well as the strengths of your business, your own ego and the culture of your business, your willingness to change and the capability of your business to adapt and quickly adjust to changes, the cash flow of your business and its financial capacity to meet any costs involved, and the adequacy of yourself and your team to take your business to a new level, or in a different direction.

Once you determine what you believe is holding yourself and your team back from successfully growing your business to the level that matches your expectations (remembering that this is your reality, but analysis by others may subsequently come up with different findings) you can target the market to find the fresh pair of eyes you need to give you a greater and fresher independent perspective.

You might decide to find a mentor, access community or local government resources, utilise resources from any associations of which you are a member, hire a business coach, engage a business advisor, call in a management consultant, or actually employ (either part-time or full-time) a good business manager, with complementary skill sets to your own.

Whatever you choose, you must be willing to work with the person concerned, and make sure that you establish upfront, how you will value their contribution. Where appropriate, ensure that where fees are involved, you look on the fee as an investment in the future of your business, not a cost to minimize at the expense of the quality of the outcomes likely to be produced.

In general, look for a pair of eyes that are well qualified, have broad business experience, have owned a business themselves, have a track record that demonstrates good analytical and consultancy skills, and who will commit to providing their expertise for as long as it takes for you to extract all that you can from the relationship.

Is your business well and truly in need of a fresh set of eyes to flesh out the reasons why your business is not doing as well as expected?

Are you willing to expose yourself to that level of scrutiny for the greater good of your business?

Do you see the cost that you may incur in bringing in a fresh pair of eyes to look over your business as an investment in the future of your business or an expense to be minimized?

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Are You a Slave to your Business?

One of the perceived, toughest tasks for any business owner, is to find enough hours in the day to achieve even half of what needs to be done every day, to ensure that their business survives and grows to a point where they see a good return on the time, effort, and money invested.

I disagree with this common perception as I find that, as a general rule, if a business it is going to achieve success in the long run, it is more likely to do so if  the owner does not personally put in any more than 50 to 55 hours per week on a continual basis, once the initial business startup phase is over.

In my considered opinion, consistently working more hours than this per week, especially with the pressures that most business owners work under, will not only lead to reduced personal effectiveness, but will more than likely also have adverse effects on the health, general wellbeing, and most importantly, the personal relationships of the business owner.

Often, much of the time a business owner spends working in or on their business, becomes unproductive time for a whole host of reasons, but a key one being the old adage that the more time available, the longer required tasks will take to complete.

The key to striking the right balance between the time allocated to the business and time allocated to ensuring that physically, intellectually, and emotionally you are as fit as possible to be super productive when working, is to first set a limit on the average number of hours per week, you will devote to your business, over any given period in the future.

Once you have determined the maximum number of hours per week you will allocate to working in and on the business, you need work out how you will then complete all the tasks you usually need to complete each week, in the reduced time frame.

There is a real art in determining the amount of time you should allocate to each specific task, but if you start by looking at how long it currently takes you, and halving that due to the fact that you will be more focussed, more energetic and more determined to complete it in a specific time, you will have a good starting point.

The next step is a simple one, but requires a good self knowledge as to your own capabilities at various times of the day, and on different days of the week. What you need to do is break the week up into the number of timeslots necessary, which may be of different durations, to complete all of the tasks you need to complete for the week.

A couple of good tips are firstly, to set aside either one or two timeslots each day to deal with incoming e-mails and other correspondence and leave them alone at all other times, and secondly, when dealing with the key tasks requiring the most concentration have a “do not disturb under pain of death policy” to stop phone calls, staff, visitors and anything other than dire emergencies, from stopping the flow of your concentration.

The final thing you should do as part of this process, is identify whether or not some of the tasks you are allocating to yourself, are really the best use of your time, and/or could be better performed by someone else, with a lower skill set than your own.

If you are serious about assisting your business to become a long term success, take action now to reduce your hours, and you and your business will reap the long term benefits. The simple process above, if implemented effectively, should shave a minimum of 15 hours per week off the time you currently put into your business, without any negative effect whatsoever.

Do you want to continue to be a time slave to your business?

Would you achieve more in less time if you were more focused, more energetic and more determined?

How will you celebrate seeing the light and limiting your time input to no more than 50 to 55 hours per week?

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Sell like a Pre-Schooler

Pre-schoolers never stop asking until they get what they need but unfortunately, most people tend to lose that ability to ask for what they need as they grow up and subsequently conform to external pressures from parents, teachers, early employers, social peers, and the general community in which they live.

As a business owner, the loss of this skill, to ask for what you need from those who control what you require, can have a highly detrimental effect on your businesses’ ability to increase its sales revenue.

Your business will therefore reap the benefits if you relearn the ability to ask for what you need in order to grow your business. So how do you start relearning what you once did intuitively as a pre-schooler?

Until you ask someone specifically to take an action, exchange something for something else, or subscribe to a different point of view, you might be selling hard, but you are not gaining any real ground. Therefore, if you have lost the ability to ask for specific outcomes that help you to advance your own agenda, you need to reprogram your brain back to that of a pre-schooler.

In a nutshell, you need to practice, and practice again, the art of asking for the outrageous, until you can do it without cracking up, flinching, sweating, or shaking uncontrollably, and can do it with utter conviction.

Try practicing to ask a prospect to pay $50,000.00 for the privilege of buying a clapped out second hand car, until you can do it in the expectation that you might just be able to pull it off one day.

When you can do this, you are ready to effectively ask for the small things you need your prospects to do in order for you to help them, and at the same time significantly increase the number of sales you make for your business, in any given time frame.

It may surprise you, but most people are happy to give you what you need if you ask in the right way at the right moment. Unfortunately, business owners struggling with making sufficient sales tend to telegraph that they are squeamish about asking for what they need, and as a consequence, their prospects feel the same way about giving and the sales never get booked.

Once you have determined exactly what it is that you and your business need your prospects to do for you, and you have a compelling reason (the future of your business) to ask for what you need, you should then be able to successfully apply what you have relearned, and you should then be rewarded by seeing a significant increase in your sales revenue.

When was the last time you really asked for exactly what you needed from your sales prospects?

A better question perhaps is, when was the last time you asked yourself what you want?

What will you now do differently?

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Learn to Sell with Your Ears

One of the key roles of a business owner is to be the chief salesperson for the business itself, and in many instances this role also includes being the chief salesperson to the largest and most important customers.

Some business owners are very competent in one or both of these sales roles, but for many who do not have sales or marketing backgrounds, and even some who do, the necessity for them to perform these roles can often be quite challenging, and they often find that the efforts that they do put in, deliver less than optimal results.

Regardless of their backgrounds, all business owners can improve their sales performance if they remember the old adage “God gave you two ears and only one mouth, use them in that proportion, if you wish to be successful”.

When you are in front of a prospective customer or client for the first time, how much air time do you give to them? If the ration is not at least 70% of the time you spend with them, you are more than likely talking yourself out of a lot of new business.

How often do you interrupt your prospective customer or client during an average first interaction? Any interruption is a bad mistake. Apart from being seen as rude behaviour, the chances are high that you will not discover a key piece of information, which could help you win the business.

If a prospective customer or client says something you disagree with strongly, are you able to hold off countering with an argument before they have fully expressed their views? If you can't, you will establish the climate for multiple objections to your offering, as well as perhaps missing a hot button or two that you could later push to win the business.

Do you constantly intersperse your presentations with personal stories? Whilst personalising your presentation and building rapport in the initial phase of the first meeting is good form, constant story telling throughout a presentation wastes time, and can easily divert the dialogue away from the business at hand.

Are you a great finisher of other people's sentences? If you are, you will frustrate your prospective customer or client who will see you as a rude, unlikeable person with whom they will not want to do business on a long term basis. You will also be more often wrong than right in your assumptions, as to what they were about to say.

Do you clearly convey to your prospective customer or client your impatience for them to finish speaking so that you can make your point? This is a deadly habit as your prospect knows you are not listening to anything they are saying to you while you are rehearsing in your mind your response to what they said at an earlier point in their dialogue.

Whilst not regularly acknowledged, your eyes are also a tool to enhance communication and you need to be careful that yours don’t bore into your prospective customer or clients eyes like laser beams on full and continuous power. It is easy to overdo eye contact, and this will create tension in the person being subjected to such scrutiny, and this tension will usually block effective communication.

If you improve your listening skills in each of the above areas you will remove a significant barrier between yourself and your potential customers or clients thereby allowing you to more easily establish constructive relationships, which in turn will lead to far more successful business outcomes.

How many of these common listening mistakes are you currently making by force of habit?

When did you last do any training to improve your listening skills?

If you were to remove these listening mistakes completely from your sales presentations, what effect would that have on your closing ratios for new business, and what would this mean in terms of additional revenue for your business?

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Don’t Blow it Next Time

As a business owner, you will most likely have walked away from at least one past business meeting or presentation with a sinking feeling in your stomach, usually providing you with very clear evidence that you had blown the opportunity, to get the business you were pursuing.

It is also likely, that whilst you suspected that you knew where you may have gone wrong, you were never quite sure whether it was a single factor, or a combination of many factors, that led to the less than desirable outcome.

The reality is that there are many key factors that a potential customer or client may take into consideration during their decision making process, and even if you present a compelling case, you do not have to go wrong on very many of these key factors, to effectively blow your hard won opportunity.

Your audience expect, and want a lot, from the person making the presentation to them, and the key factors they will take into account in exercising their judgement include;

• Are you a user of the specific the product or service you are pitching
• Are you displaying any signs of deception or game playing with them
• Are you wasting time their time by straying from the relevant factual information
• Do you share stories of other people using the product / service you offer
• Is your product/service a good deal with clear value at the lowest price possible
• Are you listening to them far more than you talk yourself
• Can you establish the market competitiveness of your pricing policy
• Do you remain positive and upbeat with no hint of negativity of any kind
• Do you convey and maintain sincerity along with showing a strong smiling face
• Do you refrain from inferring that bad decisions may have been made previously
• Are you demonstrating that you really like them as individuals and as a group
• Can you establish confidence that they will definitely get what they pay for
• Will you assist them to actually make and justify the purchase decision
• Are you able to show them exactly how you will support them after they buy
• Are you likely to pressure or harass them to make early decisions
• Did you treat them as adult decision makers
• Did you make them feel as they are special and important to your business
• Were you able to provide clear proof and valid evidence of all claims you made

The real secret to not blowing it in future, is to do whatever you have to do in terms of preparing for, delivering, and closing your pitch, with the utmost care, thereby ensuring that the potential customer or client ticks off on the vast majority, if not all, of these key factors, as your presentation progresses and concludes.

Think back to your last pitch for a piece of significant business where you feel that you really blew it, and you will most likely find that even from your own viewpoint you will be able to highlight one or two of the key factors, where you probably failed in the eyes of the prospect(s).

For your next important pitch for business, use this list of key factors as a checklist to help you prepare for both the presentation itself, and for carefully tailoring the content, to ensure you get as many ticks as possible from the potential customer / client.

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8 Tips to Prevent Negative First Impressions

It is unfortunate, but nothing conveys nervousness or a lack of confidence more than negative body language, and given that we live in a very visual society, you will generally be judged on your body language alone, usually well before you have even had the chance to open your mouth.

As a business owner, you fortunately get to choose whether you are going to be your own best visual aid. The eight tips below can be used as a guide to assist you to demonstrate the body language required to create that critical positive first impression in all of your business interactions.

1) Be properly prepared for the particular activity in which you are to engage.
2) Ensure your posture is erect and conveys alertness.
3) Make a relaxed and confident approach towards those you will be engaging.
4) Make eye contact before you begin to speak.
5) Dress comfortably and appropriately to the environment you are entering.
6) Be conscious of what your hands are doing, or not doing.
7) Smile often.
8) If you wear glasses don't hide behind them, or use them as a crutch.

You also need to understand, that your gestures and mannerisms can help you achieve strong rapport and create a climate of trust, but if your gestures are not aligned to your message or your mannerisms annoy, they can also make people uncomfortable, or even antagonistic, towards you.

It is wise, if you do not already know, to learn quickly what mannerisms and gestures are used by people to convey defensiveness, reflection, suspicion, openness and co-operation, insecurity, and nervousness and ensure that you train yourself to recognise these, and use as appropriate to the situation you find yourself in.

If you can support a strong verbal message with positive and powerful body language, you will appear to your customers/clients as confident, creditable, and caring and in control; the end result of which will undoubtedly be, an increase in business for your enterprise.

Are you conscious of the message your body language conveys to others before you engage with them?

How well do you read the body language of others?

Have you ever filmed yourself doing presentations or conducting business meetings?

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Business Planning Benefits Explained

The discipline involved in preparing a formal written business plan will stand any business owner in good stead as their business grows, whereas anyone proceeding with a business venture of any kind without one, is generally at short odds not to fully capitalise on the opportunity, that they seek to exploit for profit.

Preparing a formal business plan can be an eye opener for someone without a business degree or previous exposure to formal business planning processes. Business owners, who engage consultants to help them in this process, quickly become aware that there can be a lot more strategic and operational matters to be considered than they expected, and they often acknowledge that their limited understanding of the importance that these matters assume as a business grows, would most likely have cost them dearly if they had proceeded without a plan.

A business owner contemplating creating a formal business plan should consult others (which should at a minimum include legal, accounting and business advisors) who will question their assumptions, their projections, the substance of their offering to the market, and even their competence to successfully translate their ideas into a viable and sustainable business. The investment made in engaging these advisors is generally money well spent, providing of course, that the advisors are chosen carefully.

I would suggest that a business plan will never be passé, and I am confident in saying that anyone who prepares a comprehensive plan before embarking on the launch of any business venture, will give themselves a far greater chance of succeeding, than if they proceeded without one.

The most obvious benefits that a business owner will gain from the process of preparing a comprehensive business plan include the following;

a) It will force a move down from the big picture solution to the level where the detail becomes critical to the overall success of the business, and the planning required to co-ordinate all activities effectively and efficiently, becomes self-evident.

b) It will allow an early determination as to the feasibility of the proposed business activities relative to the human and financial resources definitely available to commence operations.

c) It will assist in setting the business owner’s vision in concrete, and from there allow the formulation of realistic goals, and appropriate schedules for the completion of these goals.

d) It will provide a framework for the guidance of those charged with implementing various components of the plan as to where their activities fit in relative to the achievement of the overall business objectives.

e) It will allow for financial control in the form of the allocation of budgets for each of the tasks which need to be undertaken in building the business to become a viable concern.

f) It will provide a scorecard of sorts, against which progress can be measured, necessary adjustments made, and final outcomes evaluated to determine the effectiveness of the actual planning process in the delivery of the results expected.

g) It will provide a certain level of confidence in that the planning process will have taken into account all of the known variables, thereby reducing the risk of the unknown by a significant degree and  as a consequence, providing a more solid platform upon which to grow the business.

h) It will ensure that all statutory and regulatory factors are known, the necessary compliance structures are established from day one, and all necessary training requirements are scheduled and managed.

i) It will instill the discipline of the planning process for the future years that the business will be operating, and the lessons learned from evaluating the effectiveness of each year’s process, can be utilised in making the following year’s planning more robust.

The preparation of the initial formal business plan does not have to be a laborious or expensive process, although the more time taken and the degree of expert input involved, may mean the difference between an average plan with average outcomes versus a dynamic well structured plan designed to maximise the profit opportunity for which it has been prepared to exploit.

The old adage, those that don’t plan are actually planning to fail, holds as true today in business as it always did. As a business owner, it is your responsibility to plan for the success of your business, and the extent that you embrace this responsibility, will determine the future profitability of your business.

Are you planning to succeed through embracing a formal business planning process?

If you are not familiar with such a process, are you willing to learn the process or engage those who can assist you develop a realistic plan for your business?

Can you see that an investment of time and capital into ensuring your business has a formal business plan as the framework for its future growth, will return great dividends to you, as the business owner?

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Are You Fishing with Blunt Hooks?

An extremely important component of growing any business to the point where it becomes self sustaining is prospecting for suitable clients or customers. As a business owner, you need to set the lead for others to follow if you want to elevate the importance of prospecting for future business to its rightful place as a key component of your business plan.

All business owners have to prospect, and some are far better at it than others. If you, and those you employ, avoid the seven common mistakes that others frequently make when prospecting, you will become very good at it, and your business will grow quickly.

The first and most common mistake in prospecting is simply not doing enough of it. As a business owner, you must understand that the work you do today, in uncovering suitable prospects, represents your income for weeks or months down the track. The absence of constant prospecting activity equals no constant income in the future, and creates the real and dangerous potential for cash flow problems to develop in your business.

The second mistake is prospecting with the wrong attitude towards the job. When you prospect with a positive attitude towards the work which needs to be done, and you expect that work to generate good business leads, you will usually prove yourself to be absolutely right.

The third mistake is not having a good system in place to ensure that all leads generated are followed through with, and all income potential is maximised. Without systems, too much falls through the cracks and unproductive activity will prevail. Before you commence any prospecting activity make sure that your business has a CRM package in place, and that all involved in the prospecting activities are familiar with it, and understand the importance of recording all activity and outcomes.

The fourth mistake is prospecting the wrong people in the first place. Are your potential prospects going to deliver your business a high enough return on the investment made, are they geographically positioned to make servicing them a cost effective option, do they actually want what or need what you are offering, are you face to face with the decision maker or a key advisor to the decision maker?

The fifth, and a killer of a mistake, is not asking the prospects you do get in front of, for referrals. It is vital for all business owners to remember that when you are prospecting, you are not only prospecting the prospect, but anyone else they know, who may have a need for your offering. Always remember, if you don’t ask – you don’t get.

The sixth mistake in prospecting is a reluctance to invest in direct mailing to potential prospects that you have on any database you own or control. Mail them monthly at a minimum, and the frequency of touches will eventually deliver a regular stream of people wanting to take up what you are offering, and who will also be willing to give you referrals.

The final, and an all too common mistake made by business owners, is to stop regular and consistent heavy prospecting just because they have a few good weeks or months flowing on from previous prospecting activities. Never forget, that a drop off in prospecting will inevitably result in a drop off in income for your business in the coming months.

How does your business measure up in terms of the returns from your prospecting activities?

Does your business have a program of activities which constitute a constant and effective prospecting machine?

Do you need to sharpen your hooks?

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