As a sales and networking trainer, I get asked all the time about selling in today’s economy. Interestingly enough, the skills that will help you thrive in a down economy are the same skills that will allow you to grow in a busy one. Yes, Alberta has been busy for the last ten years, but even a turkey can fly in a hurricane! To be profitable now, you must be able to build your client base without spending too much time on prospects that are less than ideal.
Here are 3 great tips that will help you survive and thrive in any economy.
1. Always be developing your skills – invest in yourself
Most people don’t yet know how to distinguish profitable from poor prospects until it is too late, and the same people that put off training in a busy economy also refrain from training in a reduced one. They say “I don’t want to do any training now because I am too busy and don’t need to”. When the downturn comes, the same people say “I don’t want to do any training now. I am going to wait until it gets busier”. As a professional business person, you need to continually renew and upgrade your skills so that you can be at the top of your game. You may want to attend a professional networking course, or join a networking organization such as BNI (Business Networking International) to start.
2. Know what type of client you want, and ask for it.
A good/ bad example of this comes from the legal industry. Many lawyers when introducing themselves include the fact that they offer real estate services. The vast majority of lawyers do not need to include this when they network because they will receive that type of work anyway (could be spin off work from other client projects, such as Wills & Estates or Corporate). They may not want real estate business due to lower profit margins, or possibly they are not as efficient at it because they don’t do it very often. So why ask for it? If you know what type of client you want, be specific and you will see better results referred to you.
3. Focus your attention on you’re A-grade clients
This is an extremely important concept. If you are able to define what you like about a client, you can put together a marketing strategy to attract those types of clients. This may mean that you need to disqualify a few prospects as well, and weed out the ones that you don’t want to talk to. Now that doesn’t mean that you have to go around saying no to business opportunities all the time. The fact is, most people are not comfortable saying no to a business opportunity, even if it is just a little bit of business. AND If you are over 45, you have likely experienced lean times and may not be comfortable saying no. No problem. What you can do is be on the lookout for and in front of people that you DO want as customers. The only way you can do that is to have a list of what your top 5 clients look like, walk like, sound like, talk like. For example, if I am an accountant and I say to you that I am looking for people that are buliding their business, you can look out your office and see 1000’s of people that fit that profile…but if I say to you that I am looking for a business owner who wants to purchase their competition, or a business owner that wants to expand their business and they don’t know how to arrange financing or put these kinds of deals together…those are more specific.
There is no one particular perfect client, but if you have 5 focussed client profiles that have simple explanations of what these clients look like and who they really are, you can train other people to look for them. You will also have the ability to recognize them better yourself when you are out networking and meeting people. If they don’t fit one of your profiles, you don’t need to waste time pursuing them.