Monthly Archives: June 2015

Professional Development , , , , , Leave a comment

Master Moderator: Run A Panel Like A Pro

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Speaking opportunities are a time-tested way to position oneself as an expert. Speaking engagements are often gateways to connecting with prospective clients, strategic partners and referral sources. Being showcased as the keynote speaker is the most coveted role at the conference, but an invitation to join a panel is highly desirable as well. Should you be asked to moderate, you may work with the conference organizer to select the panel speakers.

When considering speakers, remember that the goal of every panel discussion is to bring together three to five smart and witty people to have a dynamic discussion about an intriguing topic. A group of highly regarded, yet boring, experts will not do. The best panel discussions are lively. The moderator and speakers will enlighten and entertain the audience and draw them into the discussion with questions and comments.

Panel preparation Invite experts who communicate well and have the ability to engage the audience. Research the panelists and their work and let that guide questions that you will ask, in addition to questions on any big developments that the audience will want addressed (like the Supreme Court ruling on the Affordable Care Act if health care is the topic).

Experienced moderators suggest that you send panelists a group email that lists three questions that you will pose and ask them to suggest other issues/questions that they feel should be addressed as well. At the conference, introduce the panelists to one another and suggest that all of you sit together while whatever meal is served or as the keynote speaker is on, so that everyone can get somewhat acquainted before the panel goes on.

Panel discussion objectives At the start of the panel, thank the audience for attending and introduce yourself. State the title and purpose of the discussion. Three sentences should be sufficient to describe why the topic is relevant to the audience and the community (professional peers or the public).

Introduce the panelists The moderator always introduces the panelist and the introduction should be brief and to the point, letting the audience know why they’ve been invited to discuss the subject. Smart panelists will give you their own introduction for you to read.

Layer the questions A-List moderators know that there is a sequence to follow when posing questions to the panel. The opening question is the “view from 30,000 feet”, an overview that allows panelists to give their perspectives of the big picture regarding the topic. The next couple of questions become more specific, boots on the ground. Once everyone is warmed up, throw in a curve ball with a tough question.

You the moderator are looking to elicit from the panelists concrete examples, war stories, amusing anecdotes, the outrageous truth and provocative or controversial opinions. It’s OK for panelists to pose a question to another, as well. Panelists may ask questions that are sharper and more provocative than those you’ve prepared and the answers may be more candid.

Keep the energy flowing and resist the predictability of going down the line of panelists every time, to allow each to answer your question. If the first three give a similar answer, give another question to the next two, transitioning by saying “The question seems to be answered…” as you pose another to the next panelist(s).

The wrap-up question don’t bother to ask for a closing thought, that’s been done all too often. Instead, ask panelists what they think might be an important trend that we’ll be talking about next year at this time, or to make some counterintuitive out-of-the-box prediction about what the industry will look like in five years.

Audience questions To the best of your ability, allow 5 – 7 minutes for audience questions. Following the audience questions, give a brief closing wrap-up and thank the audience for their attendance and participation.

End on time The panel discussion will likely be 45 – 60 minutes long and it is the responsibility of the moderator to facilitate an engaging and informative discussion that makes the panelists (and you) look good by posing questions that will quickly get the relevant information onto the table and make the audience value the experience. Make the organizer happy by staying on schedule. Ask the organizer for 10 minute and 5 minute warning signs.

Thanks for reading,

Kim

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Be A Rock Star Panelist

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Being invited to speak on a panel is a golden opportunity, a wonderful way to demonstrate your expertise and ability to think on your feet. Being on a panel is an excellent marketing technique and it can also be fun. There is an art to it though and if you want to be invited to participate a second time, make sure that you look good the first time.

1.   Know the subject

You’ve been invited to join the panel to share your deep knowledge and experience and/or your intriguing and compelling perspectives regarding the subject matter. You are there to inform and enlighten the audience. Do not disappoint. If you do not possess the expertise, then you must decline the invitation, regardless of how wonderful the opportunity is.

2.   Control your introduction

One week before your appearance, confirm details with the program organizer and send a three sentence bio that should be forwarded to the panel moderator. As a precaution, print out a copy and hand it to the moderator before taking your seat.

3.   Speak up and speak clearly

Veteran speakers say that the optimal distance between your lips and the microphone is one inch. Lean in (but don’t hunch over) and speak clearly.

4.   Entertain and inform

As with a program keynote speaker, a panelist is there not only to inform, but also entertain. A bored audience tunes out. Witty sound-bytes work wonders. Sprinkling in a few makes you look smart and you will be remembered by those in the audience.

5.   Tell the outrageous truth

Prepare yourself for a tough, possibly embarrassing, question form the moderator. Fear not, because this is a good thing. You will then have the opportunity to be gutsy and funny, and show the audience that you are a straight shooter. Tell the outrageous truth, especially when it’s obvious. If the question is that scary, plead the fifth amendment and let the audience laugh with you.

6.   KISS—Keep it short and simple

Real experts know how to boil complex issues down to their essence and give answers and explanations that can be readily understood by non-experts. Avoid tossing around technical jargon and you’ll look like the smartest person in the room and win the admiration of the audience.

7.   Answer the question that you want to answer

Unless you feel that you must take the fifth, answer the question that was asked, but do not hesitate to take the discussion in a direction that lets you express your unique perspective, or demonstrate your expertise and experience. Give your answer and segue with “… but the real issue is…”

8.   Face the audience and not the moderator

It is tempting to face the person who asks the questions, but be mindful that s/he is not the audience, but the vehicle for posing questions that tease out information that audience members are presumed to want.

9.   Never look bored.

Active listening will help with this one. Looking engaged while another panelist is droning on, or resisting the reflexive action of making a face if someone says something that you find inaccurate or ridiculous, is perhaps the hardest part of being a panelist.

10. Listen to the other panelists

Being able to refer to something said by another panelist adds to the value of the information shared. If you want to politely refute a previous panelist, or add more information to a point that has been made (“…I think the real issue is…”), you’ll need to listen carefully. Jotting down a couple of notes is a good idea as well, to help you remember what was said and/or formulate your rebuttal.

11. Never agree with the other panelists (much)

Moderators frequently put the same question to every panelist, so that different perspectives on the question can be brought forth. The last speaker often will have nothing to add. Rather than stating that you agree with the previous panelists, with a smile, say “I believe the question has been answered…”

12. Know the other panelists

The organizer should tell you who else is on the panel. Internet search and find out their area of expertise and what they may have written or said about the subject. You do not want any surprises and honestly, you want information that will help you look smarter.

Thanks for reading,

Kim

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Freelancer Fails You Must Avoid

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Life is a gamble and there are no guarantees. Making one’s living as a Freelance consultant adds an extra measure of unpredictability. Do whatever you can to control that which you can control and lay the groundwork for success in your consultancy.  As they say, don’t shoot yourself in the foot. You will see that most of what you must do right hinges on communication, in one form or another. Here are a few unfortunate practices that will bring down even the most professionally knowledgeable and well-connected consultant:

The service does not make sense

Or, it is poorly communicated and prospective clients don’t understand the service or how to make use of it. The ability to describe one’s services, help a prospective client picture how and when it might be useful to their organization and in the process persuade the prospect that the service is valuable and the Freelancer has the skill to deliver it is how business is created. Finding your sweet spot, defining your value proposition and communicating it well, are vital.

Sometimes, clients don’t know what they need, but they know that they need help. A serendipitous meeting with such an individual could mean a contract for you and perhaps the start of an ongoing business relationship. It is hugely important to be able to effectively communicate to prospects what you do, the problems you can solve or help them avoid and goals you can help them achieve. Doing this well makes you look like an expert who can be trusted. If the money and motive are there, you will be hired.

Poor follow-up or follow-through

Whether one is a Freelancer or traditionally employed, being reliable is a must. if you promise the client that something will be completed by a given date, then do that. Answer calls and emails ASAP, ideally on the same day and most certainly within 24 hours. Even if the client has not asked a question, anticipate what information will reinforce their confidence in and confirm that you are in control and meeting expectations by checking-in and giving periodic updates. Timely communication is reassuring.

Inadequate business development

Freelance consultants are always looking for the next assignment and that may mean helping a current or past client to create that assignment. During your project work, look for additional services you might provide, while their checkbook is open. Take a past client out for coffee and see if you can get back in there, weaving in your objective as you talk about how they’re doing.

Too shy to ask for referrals

Every business needs referrals and word-of-mouth endorsements from a source perceived as trustworthy are the best. The process of obtaining a referral starts with you providing excellent service that exceeds client expectations. Timing is also a factor. Asking for a referral while on the job and definitely not while you’re presenting the final invoice, is the preferred strategy.

Making a referral for the client, either while you’re on assignment or after the fact, will make you golden and increase the chances that the favor will be repaid, if the client knows a colleague who may need your services. Knowledge of the client’s business relationships can help you to tease out a referral. If you know that the client is active in a particular business or professional association and there is a prospect in the group that you would like to meet and try to work with, tell the client that you would appreciate an introduction.

Poor billing practices

If you want to get paid, you must invoice. On some projects, it’s wise to tell the client when you will invoice. If you do so, follow the agreed-upon schedule. Late invoices annoy clients and adversely impact your cash flow and financial management as well. Always describe or itemize the services delivered in your invoice. Specify how the check should be made out, include the tax identification number,  the invoice due date and the address to which the check should be sent.

Inadequate client relationship management

Freelancers need repeat business and that means nurturing relationships is a priority. Do what can be reasonably done to keep communicating with past clients.  Definitely, send December holiday cards to all those with whom you’ve worked in the past 5 years. If you encounter an article that you suspect will be of interest to a former or current client, send an email with the link, along with a friendly message. If a past client is speaking somewhere and you can afford the time and money to attend, do so. Take notes, so that you can ask a question that will make your client look good. Attention spans are short, so it is necessary to stay on the client’s radar screen if you expect to be hired again.

Thanks for reading,

Kim

Business Strategy , , , Leave a comment

High Impact Brand Appeal

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Business researcher, businesswoman and author Wendy Lipton-Dibner is a highly successful woman who has led highly successful enterprises and has made lots of money by not focusing on money. Yes, that is correct. This brave iconoclast says that the right product or service and a business model that is not quite like what they teach in business school, is the blueprint for building a long-lasting and lucrative business venture and she has the data to prove her claim.

Lipton-Dibner studied 1000+ organizations that covered a wide spectrum: global, small business, for-profit and not-for-profit. She has also operated several business enterprises herself. What her research revealed runs counter to the holy grail of business management, which is 100% focus on generating profit. From product development to customer service, it is taken as gospel that minimizing costs and maximizing sales are the things to do and every aspect of a business must be aligned around the singular goal of making money.

Yet Lipton-Dibner discovered that the most successful and long-lived companies are those that “make a difference” in the lives of their customers. Think of the distinctive, sometimes revolutionary experiences created by Disney, Ford Motor Company, Microsoft, Hermes and Whole Foods Markets. Each of those companies offers products or services designed to help their customers lead more fulfilling, efficient, productive, healthier and/or enjoyable lives. She asserts that there are two types of business enterprises: those that focus on making money and those that focus on making a measurable impact on people’s lives and it is the latter approach that makes the most money.

Ethical growth strategies that position the company to make a positive impact on the lives of customers reap the most success, especially over the long-term. So how can a Freelancer or small business owner integrate this philosophy into his/her operation? As always, everything begins with the customer.

Ask current and prospective customers how your product or service and its delivery mechanism might be adjusted in ways that would make it more user-friendly. Can you design and deliver the ideal customer experience from start to finish and make those who do business with you so happy that they’ll tell co-workers and colleagues, who may eventually become your customers as well? That is the power of your brand appeal and impact.

As you make the changes that will give your customers The Best Experience Ever, you may find that certain adjustments in your business model, operations processes, quality control, or service offerings may need updating and that is to be expected. You’ll also learn how to refine your marketing messages and sales strategy along the way, because you will be much more tuned-in to what resonates with your customers, promoting trust in what you do and making customers happy to do business with you.

Wise fiscal management of your enterprise will continue to be a requirement, but centering your strategies and actions on  the pursuit of the biggest profit margin and net profit often does not pay off in the end. Finding the balance between what it takes to gain and keep customer loyalty and the necessity of sustaining a money-making enterprise is the road to success.

Thanks for reading,

Kim

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The WHY of Business Planning

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Full disclosure, I’ve taught business plan writing in both a short-form 6 hour workshop and a long-form 18 week class, where each session was 3 hours. Previous to that, I was skeptical of formal business plans. I was under the impression that all business plans had to be 40+ pages in length and that every element of the standard template had to be populated. Now I know better.

In my defense, if you were launching a business that would have a physical location, would hire employees, manufacture products and most of all, require that you ask a bank for money then yes, absolutely, I would have encouraged you to write a business plan. But for those who would operate as a Freelancer who do maybe PR or graphic design, then my feeling was (and still is), that your business planning must center on figuring out how you’ll get clients. A comprehensive marketing plan is the document of choice and that would include a sales and pricing strategy as well.

Business owners have been known to build successful ventures without writing down a single word. Their businesses are typically small and self-financed, maybe with some additional backing from friends and family. Particularly if the operator has already run a business, even one that failed, it is possible to learn valuable lessons to apply to a new venture. Business plans are time-consuming to write. Some will say, just learn by doing. Why not create business strategies on an as-needed basis and test them in combat?

A study of 11,046 companies published in 2010 found that planning resulted in improved business performance of existing companies even more than that of start-ups. It was hypothesized that leaders of existing businesses knew their customers and the business environment more thoroughly than those at start-up companies. Leaders of existing ventures had more information, so there were fewer faulty assumptions born of inexperience.

Another study found that while many businesses can succeed without significant planning, leaders who plan, run businesses that grow 30%  faster and are overall more profitable than those that don’t. The link between business planning and growth was reinforced by yet another study that found that 71% of fast-growing companies, that is, companies that showed a 90% + growth is sales over a 12 month period, were led by a team that planned. Creating marketing and sales strategies, setting sales goals and creating budgets made the difference.  So did defining client needs and the company’s value proposition.

As you may have guessed, a business is less likely to fail if there is a plan in place. A study of 223 companies demonstrated that business planning could not guarantee business success, but rather decreased the occurrence of business failure.

Realize that plans are not etched in stone, but are intended to be guidelines that should be adjusted as necessary.  Identify key metrics and track your company performance to learn if your assumptions stand up to your business environment. If client needs are changing, then observation of your metrics will cause you to respond and pivot and keep your products and services relevant in the marketplace.

A credible start-up business plan, or existing business strategic (long-term) or operating ( one year) plan, need not be long and elaborate. Keeping it lean and focusing on client needs, defining your value proposition and business model, spelling out goals and the strategies that will get you there and identifying metrics that demonstrate either success or the need for adjustments will do your business a world of good.

Start-up entrepreneurs were reported to be 152% more likely to actually start their businesses when they took the time to develop a credible business plan. If you want to make your dream come true, research and write down how you intend to do it.

Determine precisely how you will obtain customers. An operations component will make you consider carefully how you will obtain, produce and deliver the products or services you plan to sell. Devise a marketing and sales strategy before you approach prospects, so that you will know what to say to those who would become customers. Finally, acknowledge the amount of money that will be required to open the doors and keep them open as you build your business by developing a realistic financial plan for your enterprise.

Thanks for reading,

Kim