Last month I wrote about Getting Involved In The Community To Build Trust Instead Of Selling in which I mentioned how Jordan Arron from the BDC was able to become the first outsider to come in and present his company's value proposition to my Mastermind Group members.
Jordan took the right approach and wanted to build relationships instead of selling. He was genuinely interesting in helping my members and did not come with the "always be closing" attitude.
I asked Jordan if he wanted to write about his experience to help others who are trying to make connections and sell into the small business market. Here are his thoughts:
"Last month was my first opportunity to introduce myself to the business owners of Evan Carmichael's Mastermind group. It was a tremendous opportunity which I had the privilege of being a part of for two reasons. Firstly, because not only did I get the chance to hear Frank Cianciulli of Enunciate speak about his experience growing his business, but I was also given the chance to introduce myself to a very targeted group of individuals to grow my business.
As an Account Manager at the Business Development Bank of Canada my one mission is to support small and medium sized businesses by providing the combination of aggressive and customized financing solutions, with consulting services. The way I become successful at this is by being as deeply rooted into the various networks of business as possible. The challenge in this task is that people are always busy, and groups like the Mastermind groups are highly solicited, which can make it difficult to present your offering to them. It was only after I was given the chance to speak to the group that I realized that it was because of my approach that I was given this opportunity.
I think that if I were to summarize my approach, that it would have two specific characteristics (which I will admit, certainly are not unique, nor do they reinvent the wheel). This first characteristic is that I want to listen more than speak. So often people in sales are trying to tell people what they are selling or offering, without being able to understand who they are talking to. Not only does "active listening" allow you to collect your thoughts, and to understand your counterpart better, it also doesn't give such a "hard sell" approach which can put some off quite quickly. Even if you are about to sell something as simple as a pen, people will jump to all the features of that given pen, as opposed to understanding if the person is looking for a $0.50, $50, or $500 pen.
My second habit is that I naturally want to help people in any way possible. Even if I am not going to be lending money to them, I always look to leverage my network by putting them in touch with a potential joint venture partner, purchaser, supplier, or other financial institution. I realize I've actually started building strong relationships with people that I didn't offer money to. This approach in its truest form, works excellent amongst like minded individuals, and in the end they often end up pointing people in their network back to me.
In summary it was great meeting the members of the Mastermind group, and I look forward to the next event I can be part of. As Evan was kind enough to let me enter this circle of individuals, I will look to make every new relationship a two way street where I not only support group members with BDC financing or consulting services, but to just always keep in mind what they do, and to make appropriate introductions for their business where possible. I consider it a privilege and truly enjoy working with entrepreneurs and learning about their visions of success. When I can make a contribution to this success, it's even better."
The small business market has received significant attention from numerous companies of late as they try to expand their reach from the mature big corporate market to the expanding small business community. Everyone from credit card companies to airlines to telecommunications companies are trying to establish themselves as champions of small business. And it is no wonder - America's small businesses generated over 58,000 new jobs in May according to ADP because of their growth and the trend is expected to continue.
A new study by the Small Business Research Board (SBRB) in Canada predicts another 12 months of small business growth for Canadian SMBs. 85% of those surveyed believe the economy will remain the same or improve while 94% of the respondents predict their revenue will remain the same or increase during this period. Here are some of the major findings of the study:
How SMBs plan on growing their companies: - 52% - grow without adding staff by improving training - 36% - add new employees - 5% - decrease employees - 6% - undecided
Where SMBs are planning to expand: - 22% - add more services - 20% - expand at current locations - 19% - enhance customer service - 18% - add new products - 14% - add new locations
Much of the purchasing power for both the United States and Canada is held in the hands of small business owners. They hold the purse strings, can make or break your company, and their difficulty to reach make blogs such as this one popular.
Word of mouth advice is how entrepreneurs end up making purchasing decisions. Sure they may have seen your advertisement on TV or in print, they have probably already checked out your website to learn more about your product, but at the end of the day, a good or bad recommendation from another entrepreneur is likely going to be what makes or breaks their decision to move forward.
How can you get the small business community to spread the word about your product or service?
1) Identify and support your champions With any product there will be champions - the hardcore users who love using it and tell their friends about it. They are seen as experts by their peers and are often called for advice on which company to choose. The good news is with today's technology it is easier than ever to find and support your champions. Who is blogging about your company / industry? Whatever size your industry is, there is somebody who is blogging about it. Support these people with new product information, special events, rewards, recognition, and a personal connection into your company. Make them feel important and give them the information they need to show off your products - and they will!
2) Follow up with existing customers With their smaller budgets, SMBs will not have the same number of transactions with you as their larger counterparts. Depending on the product you are selling it could be years between purchases. Do not forget to follow up with your existing customers regularly. Make sure they are enjoying your product and let them know of any new specials you are offering. If they are not ready to buy again yet, they will have the knowledge when their peers ask them about which provider to use. If your product has broken down on them and they have not heard from you in years, you are not likely to get a warm recommendation.
3) Ensure proper damage control While positive word of mouth will spread as you establish as solid reputation in the SMB community, negative word of mouth will travel even faster. Almost even conversation I have with small business owners at one point ends up on a negative tone as they attack a company who they feel has done them wrong. Whether it be their phone provider, bank, or accountant small business owners tell their friends about their bad suppliers. If you have a negative experience with a customer or even have to let them go, make sure to leave them with the most favorable impression possible of your company. If it requires making an apology, giving a discount / credit, offering a refund, shipping a new product, or any number of concessions, the cost will be more than worth the negative word of mouth your company will receive otherwise.
EvanCarmichael.com is the world's #1 website for small business motivation and strategies. Evan also runs a series of successful Mastermind Groups in Toronto for entrepreneurs.
"Last month was my first opportunity to introduce myself to the business owners of Evan Carmichael's Mastermind group. It was a tremendous opportunity which I had the privilege of being a part of for two reasons. Firstly, because not only did I get the chance to hear Frank Cianciulli of Enunciate speak about his experience growing his business, but I was also given the chance to introduce myself to a very targeted group of individuals to grow my business. 
