Create Opportunities in our Tough Economy
Create Opportunities in our Tough Economy
In a recent conversation another client told me that all budgets are frozen for 2009. They wouldn’t be able to proceed with the project we had envisioned. We tabled the project, yet when we got off the phone, we had another appointment set to discuss two top priorities that just can’t wait for the budget.
What’s happening? Am I so different than you are? No! Creating opportunities is all about keeping your name in front of potential customers, listening hard during sales calls, and thinking deeply to make creative suggestions. You can do it, too.
Get Close
While prospecting is discouraging right now, it’s also the time to stay in front of your prospects as if they’re your best buddies. Where it used to take 9 calls to get a call back, you can be sure it’ll take many more. Instead of giving up, plan an attraction campaign. In my opinion the most effective strategy today is a combination of phone calls, emails and simple events to catch prospects’ attention. Focus on hot topics, relevant to their very highest priorities in the new economy. Be there when they recognize a new need they can’t hold off investing in. They’ll call you first.
Keep The Conversation Going
Listen for opportunities in novel areas. Your clients may be holding back purchasing your typical offerings, but in dire need of one of your lesser known solutions. When they tell you all spending has been curtailed, don’t stop the conversation. Keep questioning and conversing. Identify their top priorities for succeeding in this strange market. As they talk, listen for unusual ways you can assist them. Don’t thumb your nose at minor projects. Nothing is too small to get your foot in the door and show the financial return you provide. My philosophy is that small projects add up to big numbers, and I appreciate every one!
Wake Up Your Brain
Life has been pretty good for us sellers over the last few years. We didn’t have to work too hard to uncover our prospects’ needs. They budgeted; we spec’ed; they bought. Maybe there was a bit more work than that, but for the most part, it was definitely easy compared to today. It’s time to wake up your brain and show your clients how you can help them save more, make more, and still grow their businesses. Get creative. Think outside your normal solution box.
I’ve had my fair share of losses just like you’ve probably experienced. But I’m not letting them get me down. Rather, I’m using today’s economic troubles as an opportunity to get creative.
One seller I work with was desperately trying to close a new phone system. The customer couldn’t justify the investment. However, during the conversation he mentioned the extraordinary amount they were spending in marketing and his desire to reduce it. The seller realized the phone system could help track effectiveness of marketing campaigns, allowing his customer to quickly halt poor performing programs. The savings became clear to him, far outweighing the cost of the new phone system. He looked at the seller and said, “This is a no-brainer” – and bought.
We don’t know how long this recession will last. If you are staying in front of prospects, listening hard and presenting creative ideas, you’ll win regardless – and win big when the economy starts to turn again.
Create Opportunities in our Tough Economy - To learn more about this author, visit 's Website.
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One client I was speaking with the other day said I must be an eternal optimist, refusing to face reality. Maybe. But that same day I had four new contacts call me.
In a recent conversation another client told me that all budgets are frozen for 2009. They wouldn’t be able to proceed with the project we had envisioned. We tabled the project, yet when we got off the phone, we had another appointment set to discuss two top priorities that just can’t wait for the budget.
What’s happening? Am I so different than you are? No! Creating opportunities is all about keeping your name in front of potential customers, listening hard during sales calls, and thinking deeply to make creative suggestions. You can do it, too.
Get Close
While prospecting is discouraging right now, it’s also the time to stay in front of your prospects as if they’re your best buddies. Where it used to take 9 calls to get a call back, you can be sure it’ll take many more. Instead of giving up, plan an attraction campaign. In my opinion the most effective strategy today is a combination of phone calls, emails and simple events to catch prospects’ attention. Focus on hot topics, relevant to their very highest priorities in the new economy. Be there when they recognize a new need they can’t hold off investing in. They’ll call you first.
Keep The Conversation Going
Listen for opportunities in novel areas. Your clients may be holding back purchasing your typical offerings, but in dire need of one of your lesser known solutions. When they tell you all spending has been curtailed, don’t stop the conversation. Keep questioning and conversing. Identify their top priorities for succeeding in this strange market. As they talk, listen for unusual ways you can assist them. Don’t thumb your nose at minor projects. Nothing is too small to get your foot in the door and show the financial return you provide. My philosophy is that small projects add up to big numbers, and I appreciate every one!
Wake Up Your Brain
Life has been pretty good for us sellers over the last few years. We didn’t have to work too hard to uncover our prospects’ needs. They budgeted; we spec’ed; they bought. Maybe there was a bit more work than that, but for the most part, it was definitely easy compared to today. It’s time to wake up your brain and show your clients how you can help them save more, make more, and still grow their businesses. Get creative. Think outside your normal solution box.
I’ve had my fair share of losses just like you’ve probably experienced. But I’m not letting them get me down. Rather, I’m using today’s economic troubles as an opportunity to get creative.
One seller I work with was desperately trying to close a new phone system. The customer couldn’t justify the investment. However, during the conversation he mentioned the extraordinary amount they were spending in marketing and his desire to reduce it. The seller realized the phone system could help track effectiveness of marketing campaigns, allowing his customer to quickly halt poor performing programs. The savings became clear to him, far outweighing the cost of the new phone system. He looked at the seller and said, “This is a no-brainer” – and bought.
We don’t know how long this recession will last. If you are staying in front of prospects, listening hard and presenting creative ideas, you’ll win regardless – and win big when the economy starts to turn again.
Create Opportunities in our Tough Economy - To learn more about this author, visit 's Website.
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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