Category: Strategy + Planning

Prospecting & Lead Generation Pt 1 – Prospecting

 

Prospecting

Every business needs customers willing to pay for the product or service the business provides. Finding and cultivating new customers should be a never-ending process for any business with a desire to succeed. Surprisingly, many businesses either take a lackadaisical approach, do the bare minimum necessary, or simply overlook prospecting and lead generation.

Prospecting and lead generation, while critical, does not need to be a complex process in order to be effective. Quite the contrary; a business with the commitment and mindset to consistently nurture leads and prospects has already crossed one of the biggest hurdles. Renowned author and businessman William Clement Stone said, “Sales are contingent on the attitude of the salesman, not the attitude of the prospect.”

This article is the first in a series dedicated to successful prospecting and lead generation. People sometimes ask about the difference between these two. The simplest definition is that lead generation is a one-to-many activity, such as sending out a direct mailer, and prospecting is a one-to-one activity, like a phone call. However, after working with hundreds of clients, my advice is to consider prospecting and lead generation holistically, because both are required for success. This first article is a broad view of prospecting.

Prospecting is essential to any sales endeavor but is often overlooked or poorly implemented. In order for prospecting to be successful, it is essential that it becomes both a priority and a habit. Additionally, it is essential to understand your prospect and choose your methods of communication appropriately. Implementing these steps will help to improve prospecting results.

Make It a Priority

Although everyone knows that the prospecting is important to the success of any company that relies on sales, it rarely becomes a priority. It is often put off in favor of tasks that provide instant gratification. Prospecting must become a priority. This requires:

  • Scheduling: Choose a time for prospecting. Many experts advise people to schedule prospecting early in the day, but you need to choose the time that is effective for you and your prospects
  • Preparation: Prepare what you will say ahead of time but be flexible. Do not simply read a script.
  • Professionalism: Remain professional throughout the process. Do not allow an internal negative attitude towards prospecting affect your communication. Similarly, don’t take it personally should you encounter negativity from prospects.

Identify Your Ideal Prospect

Prospecting is time-consuming, which is why it is necessary to identify ideal prospects before beginning the process. Your ideal prospect is your ideal customer. Your company is able to fulfill the needs and wants of your ideal customer. Conduct research to determine who benefits from your product or service. The information you must find beyond how your business meets client needs includes the following:

  • Values and priorities
  • Budgets
  • Age
  • Gender
  • Buying habits
  • Profession
  • Interests

Once you have identified the ideal customer, you will be able to focus time on prospects who are likely to become your customers.

Choose Prospecting Methods

There are numerous prospecting methods available, which will be addressed in greater depth in a later newsletter. While you will probably choose multiple methods of prospecting, you must focus your energy on methods that your prospects will respond to when they are exposed to them. For example, younger prospects are less likely to respond to cold calling and more likely to respond to social networking and webinars. The better your research on your ideal prospect, the better you can select the best prospecting methods! Prospecting methods commonly used include:

  • Cold calling
  • Referrals
  • Content marketing
  • Email marketing
  • Networking
  • Seminars
  • Social networking
  • Webinars
  • Advertising

Every method is considered a “touch”. It will take multiple touches to convert a prospect into a client. Be sure to provide value in every touch you make with a prospect – how your product or service will ultimately make their life better or easier.

Make It a Habit

It is not enough for prospecting to become a priority; it must become a habit. There is a common misconception that habits are easily made within 21 days. Recent studies, however, show that it takes roughly 66 to 200 days. When you first decide to make a new habit, the first few days are easy. After the honeymoon phase ends, it is easy to become disillusioned and fall back into old habits. When this happens, it is important to focus on the positive outcomes and follow your schedule of prospecting activities. After struggling through this phase, prospecting will become second nature. In order to truly make prospecting a habit, you need to ensure that you are working at it daily.

 

By Christine R. Spray

Photo: ID 5122591 © James Steidl | Dreamstime.com

Tips: Plan Ahead for Happiness

Most of us spend more time at work than we do engaged in any other activity other than sleeping. If we consider how much of our lives we spend in our workplace, it quickly becomes clear that spending this time unhappy, unfulfilled, and just counting the days until the weekend is a waste of time and energy. Finding ways to be happier at work can not only lead to better mental health, but can improve your productivity and overall work performance. One key way to cultivate more happiness at work is to plan for it! Develop habits that get your work day off to the right start, and you’ll see greater happiness throughout the day and week.

Have a Nightly Routine

Nothing gets your day off on the wrong foot like rushing around in the morning! Lost keys, skipping breakfast, discovering that the pants you wanted to wear are not back from the dry cleaner – all this can throw your morning into chaos. Taking time the night before to organize what you need for the next day can help avoid this morning rush and let you start your day centered, organized, and with everything you need. Create a nightly routine – and follow it! Choose your clothes for the next day, set up your coffee maker (especially if it has a timer and automatic brew!), and pack your lunch. Take time to place the things you will need for work the next day in your briefcase or bag. You might even choose a space near the door to be your “launch pad,” a space where everything you need for the day is in one place and easy to pick up. Your routine will vary depending on what you need each day, what your workday looks like, and what the needs of your family are. It might even help to make yourself a checklist until the routine truly becomes a habit.

Get at Least 8 Hours of Sleep

Sleep deprivation is bad for your mental, emotional, and physical health. It’s hard to feel productive, happy, and positive when you’re exhausted! Making sure that you get at least 8 hours of quality sleep per night is one step you can take to help prepare yourself to be happier and healthier, both at work and in the rest of your life. Many of us are used to running on just a few hours of sleep, or to getting sleep that isn’t truly restful. There are a few steps you can take to ensure that you get the most restful sleep possible and wake up ready to face the day with a positive attitude.

• Steps to Quality Sleep:
o Go to bed and wake up at the same time every day – including weekends
o Have a nightly routine that prepares you for bed – shower, tooth brushing, prayer or meditation, etc.
o Put away the electronic devices
o Make your bedroom a sanctuary

Wake Up Early Enough for Some “Me” Time

Getting enough sleep is important, but waking up early enough so that you have time to transition into your day can also help foster happiness. If you usually hit the ground running and leave the house with just enough time to make it to the office on time, you are kicking your day off with anxiety. Waking up even 15 minutes earlier so that you can have some “me” time can help you ease into your day with a sense of centeredness instead of a sense of panic. Some people like to wake up very early and have an hour or more of “me” time, while others just need an extra 10 or 15 minutes to linger over a cup of coffee or tea. Figure out what works for you!

• Ways to Use Your “Me” Time:
o Read the newspaper or a passage from a book you are enjoying
o Pray or meditate
o Do some light stretching or yoga
o Linger over your coffee, tea, or breakfast
o Spend time stroking your pet

It’s important not to use your “me” time to get a head start on your work day by reading emails, working on projects, or checking voicemail!

Give Yourself Time to Arrive at Work Early

Commuting is often the most stressful part of the workday. Whether you drive, walk, bike, or take public transit to work, delays and traffic jams can get your day off to a stressful start. Too often we make this worse on ourselves by leaving for work at the last possible moment, meaning there’s no room for error, and that we arrive at work with only moments to spare before we have to jump into our first project or meeting. All this can leave us frazzled, anxious, and short-tempered. Altering your morning commute so that you can arrive 10 to 15 minutes early for work helps you ease into your workday instead of having to throw yourself right in. And giving yourself that cushion can also give you much-needed wiggle room in your commute to account for the unexpected. When you arrive early, you have time to transition gradually into your work — check email, get a cup of coffee, check your schedule and to do list, or simply say good morning to your coworkers. This helps you meet the day in a positive frame of mind.

Plan Your Day

Taking a few minutes to plan your day can help alleviate stress and promote happiness at work. You don’t have to plan every minute, but having a sense of what needs to be done, what expectations need to be met, and what time and resources you’ll need throughout the day can make your workday run much more smoothly.

Arrive 10-15 Minutes Early

Arriving at work early is one simple step you can take to foster your happiness at work. When you arrive early, you have time to think about your day and make a plan, rather than having to immediately start with tasks and meetings. Planning ahead so that you arrive early means that you can get settled into your day by greeting coworkers, checking mail, email, and voicemail, take a look at your calendar, and otherwise get an overall picture of what your day will involve.

Build in Breaks

We all want to be productive at work. While it might at first seem counterintuitive, building breaks into your day can help you be more productive and happier at work. Building short breaks into your day helps to break work into manageable chunks. It also gives you guideposts to aim for – and if you make a break something to look forward to, you may find yourself working more efficiently to get to it. Breaks give you time to reset, relax, and tune in. They also help you as you transition into different projects or other aspects of your work. Build regular breaks into your workday as you create your to-do list – and put those breaks on your list or schedule, just like you would any other appointment! You can use your breaks to check email, take a walk around the office or even get outside for a few moments, get yourself a drink or snack, or even just take a few moments to not think about work. You might build in different types and lengths of breaks as well, or consider having a coworker who is your “break buddy.” Breaks should be long enough to give you time to reset but not so long that you get completely distracted – 5 to 15 minutes is a good guideline, with a lunch or dinner break being longer. Even if you can’t get up from your desk or out of your office, taking a quick 5 minute break can leave you feeling refreshed and recharged.

Relate to Others

Even if we work well independently, it is important to take time to relate to others in the workplace. Building work relationships helps us feel less isolated and creates a support network. Relationships also help us feel part of a team or workplace community, which can promote happiness. When we have strong relationships with our coworkers, we may even look forward to going to work! Instead of being a place where we are disconnected, work can become another place where we connect with others.

Greet Your Colleagues

Something as simple as taking the time to greet your colleagues when you come into the office can make all the difference! Can you remember a time when someone just saying “Hello” improved your day? When we take the time to greet others, we make a connection. It is likely that your colleagues will greet you back, spreading the good feeling. Starting the day with a positive interaction with another human being helps you feel connected and can turn a rough morning into a productive, happy day. You don’t have to stop to have lengthy conversations with every person you meet, but taking the time to smile and wish them a good morning is a worthwhile investment of your time.

Note: This article was originally published in the Houston Business Journal

by Christine R. Spray
Founder & President of Strategic Catalyst, Inc. and the National Business Development Association

 

Photo: ID 60375662 © Warrengoldswain | Dreamstime.com

Starting a Successful Business

It is often said that entrepreneurs are the backbone of the nation. Anyone with the passion and drive can become a successful entrepreneur as long as the planning and execution are done well. The first step to becoming an entrepreneur is choosing the ideal business. The business you choose will be determined by its feasibility as well as your own interests and expertise.

Be sure it’s Feasible

You may be passionate about an idea, but if it is not feasible, you will never be able to make it successful. Feasibility describes how simple it is to accomplish something. Before moving forward with any idea, you must determine its feasibility. This requires an understanding of the market and your customers, which we will cover in-depth in later sections. Ask yourself the following questions:

• Do you have the necessary funding?
• Is there a market for your product?
• What is the outlook for the market?
• Can you price competitively?
• How would you operate?
• Would you have a sufficient customer base for long-term success?

Understand Your Interests

Becoming an entrepreneur is not easy. If you do not enjoy what you do, you are unlikely to be successful. Before you choose your business, you must consider what you enjoy doing and think of a way to make this task profitable. Begin by making a list of your interests and see which ones overlap with feasible business models.

Build Experience

Experience and expertise are definite benefits to any business. They are often used interchangeably, but this is a mistake. This point and the next one will help define the difference between the two while helping you identify your own experience and expertise. Experience is something that you gain from observation, encounters, and actions. Many jobs provide experience.

Be an Expert

Expertise has knowledge and skills that come with education and training. This can come from the work experience in specialized positions and from degrees in certain fields. For example, an expert would be an accountant or a chef would be considered experts in their field. Being an expert at a business makes you more capable of running it. If you are not an expert, there is no reason to give up on your idea. If you are passionate about something, take the time to become an expert.

Set Yourself Apart from the Competition

By understanding your competition, you will be able to make yourself stand out. You have already established which objectives your competition is lacking, and you can fill the niche. For example, some customers may be willing to pay more for customer service that a business focused on low prices will lack. Stand out by:

• Expertise – Take advantage of your expertise to draw in customers.
• Value – Explain how you offer a better value than competitors. This requires understanding the customer.
• Communication – Use creative and innovative ways to connect with customers.

Identify the Customer

Creating a successful venture cannot be done without understanding the customer completely. Success depends on identifying what customers want and providing it. Begin by understanding the demographics of your area. This will give insight into the spending habits and values of prospective customers. You should also hold panels and surveys to better understand what your customers expect from you.

Note : This article was originally published in the Houston Business Journal

by Christine R. Spray
Founder & President of Strategic Catalyst, Inc. and the National Business Development Association