Author Archives: freelancetheconsultantsdiary

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Do Not Sell Your Elevator Pitch

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The elevator pitch gets a lot of attention.   Much has been written about its importance and how to get it right.   Unfortunately,  most of the so-called experts cannot help us get our elevator pitch right,  because they don’t understand what it’s about.

The original purpose of the  “elevator pitch”  was to have something relevant to say about your business if you happened to encounter someone who could potentially become a client.   Over time,  its purpose was corrupted and it metastasized into a sometimes smarmy self-promoting sales pitch that prospective clients didn’t want to hear.   Most of us forgot,  or perhaps never realized,  that  an elevator pitch was never meant to be a sales pitch.    

But we’re Freelancers and we need to self-promote because we need to plant the seeds for new assignments so we won’t starve to death!  Isn’t that what an elevator pitch is for? If it doesn’t sell us,  then how do we introduce ourselves to prospective clients?

Take heart,  gentle reader.   As we all know,  it’s not what you say,  but how you say it.   It is more advantageous to present oneself in a way that does not reek of obvious selling.   What Freelancers need is an elevator pitch that not only can open up the possibility of a sales opportunity,  but can also be gracefully inserted into a casual conversation.

The well- made  elevator pitch presents you and your offerings in a socially acceptable manner,  with no  obvious  sales pitch.   You’ll be able to roll it out at a backyard barbecue or a wedding reception,  without making people cringe.   To do it right,  it is necessary to learn how to introduce yourself and your business concern in the context of social conversation.

According to Geoffrey James,  author of  “How to Say It: Business to Business Selling”  (2011),  break your elevator pitch down into three parts.   First,  come up with one  sentence that will Position your business.   That sentence will describe what you do for clients in easy-to-grasp language and will state a benefit  that could be of interest  to the person who asks about your professional  life. 

The beauty of this sentence is that it will start the process of separating the wheat from the chaff by revealing the questioner’s level of interest in what you do.   If that person shows only polite interest,  you’ll know that you’re not speaking with a prospect and can move on to  other topics.   But if he/she asks something like  “How do you make that happen”?,  you may have a live one.

If your questioner shows knowledge and interest in your field of expertise,  then proceed to level two and Differentiate what you do by giving examples of what distinguishes you from competitors.   “Some of my clients begin to receive the desired return on investment within three to six months after implementing the business  strategy plans that come out of the sessions I facilitate for them”.   “We have extensive press contacts that will allow us to roll out the PR strategy you need to make your business appear reliable and trustworthy to your target customers”. 

If your questioner continues to demonstrate interest and ask relevant questions,  then advance to level three and open a Conversation.   Ask an open-ended question to verify whether you are speaking with a potential client,  or just someone who is bright and curious,  but cannot hire or refer you.   Maybe  ask something like,  “Does your company have these kinds of needs?  If so,  how are you getting the job done”? Drill down further with,  “Do you have an impending project on the drawing board”? The answers you receive will let you know who you’re dealing with.

If you’ve done things even half way right,  maybe five minutes have elapsed during which the other  person has done much of the talking and you the listening.  If it makes sense to keep the conversation going,  it’s time to  ask for a Meeting,  since  1.) Follow-up is an essential component of success and you don’t want to let an opportunity slip through your fingers and  2.) You are at a social event and you don’t want to be crass and ruin the mood by continuing to talk business.

You might propose it this way:  “If you’re open to talking a little more about how I can help you with  (insert prospect’s concern),  I’ll be happy to sit down with you.   How do I get on your calendar”?

A more cautious approach is,  “If my company were able to handle  (insert prospect’s concern),  what are your thoughts about us getting together so that you can learn more about what we do? Can I get on your calendar”?

So there you have it.  A straightforward and brief elevator pitch strategy that is a real conversation and elicits useful information for both parties.  It is not a sales pitch.  Now all you have to do is put yours together.

Thanks for reading,

Kim

Marketing , , 1 Comment

Boost Social Media ROI

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Like nearly all Freelance consultants,   I engage in social media  (LinkedIn)  for professional reasons.   I have yet to obtain a client through social media interactions  (my business is nearly 100% referral,  since basically no one hires business strategists or marketing consultants without a personal endorsement),  but I must keep up appearances and so I keep my profile in good shape and post relevant updates to keep things fresh.

The experts say that like all marketing campaigns,  what and how you communicate through social media must appropriately reflect your brand and appeal to current and prospective clients.   To achieve the desired return on investment from social media,   it is imperative to deliver the right message to the right sites.  To accomplish that,  you must know the customer.   Who hires you and what type of social media might they trust and follow?

To help define which social media platforms to focus on,   begin with the age group of your prospects.   Are they under 35 years old? If so,  they are more likely to be very comfortable with a variety of social media.  They’re likely to  own a smart phone,  tablet and laptop.   They may very well create and copiously share online social media content in their personal and professional lives. 

Conversely,   if your typical clients are 40+ years old  (like mine),  they are less likely to be heavily involved in social media and much less likely to create  content.   They may own a smart phone,   are guaranteed to use a computer and may even own a tablet,   but should they decide to share content,   it was most likely created by someone else.  

Social media expert Judith Lewis  says that about 20%  of social media users are High Sharers and about 80%  Low Sharers.  High Sharers are almost three times as likely as Low Sharers to recommend  products or services to those in their network.   Therefore,   it is wise to create content that will appeal to the High Sharers,  who will do some  “e-legwork”  on your behalf and boost your social media ROI. 

Lewis has identified seven types of social media High Sharers and explains how their sharing style can be leveraged to target and engage clients and prospects.   Give the list a read and see how you might tweak your message and perhaps vary the sites you use:

Altruists

Altruists share content out of a desire to help those in their network.  They respond well to appeals made through email and Facebook.  Altruists make up the largest percentage of social media users.

Selectives

This group shares information if they feel it will be useful for a specific individual.  They usually use email to share information.   Selectives comprise the second largest percentage of social media users.

Passionates

Passionates share information with those who share their intense interest in a given topic,  cause,  band,  fashion designer or whatever.  This group uses Facebook most frequently.   Also,  they are big contributors to customer review sites.

Connectors

As their name describes,  this group likes bringing people together to socialize or perhaps do business.   Connectors tend to use several social media sites,  most notably LinkedIn,  Flickr,  Twitter and Facebook.

Trendspotters

This type uses social media sites to show the world that they are on the bleeding edge of the hottest trends.   Trendspotters are compelled to build their credibility and they are busy working many social media platforms.  YouTube,   Foursquare,  Delicious,  Twitter and Facebook are favorites.   Trendspotters can be very useful for B2C  ventures seeking to increase visibility and sales,   especially in fashion,  electronics and baby products.

Provocateurs

Bloggers often fall into this category  (but not your humble diarist).   Provocateurs like to do just that—be controversial,  cheeky and outrageous and get a rise out their readers.  In addition to their blog,  these folks tend to favor YouTube,  Delicious,  Flickr and Twitter.

Careerists

This group will use social media networking almost exclusively for business purposes.   They favor LinkedIn,  but will use Facebook,  Twitter,  YouTube and Facebook as needed,  to effectively share information about their business enterprise or career.

As a postscript,   I will say that I don’t know any Freelancers who have successfully monetized their social media relationships.   From time to time I read and participate in LinkedIn Answers and there are those who swear that they get clients  (whom they have never met)  through LinkedIn.   I have my doubts.   Still,   creating some buzz will never hurt your business.  If you’re able to get on the radar screen of a High Sharer who will post a good recommendation for your services,   at the very least this may help convince someone who is on the fence to go ahead and offer you the contract.

Thanks for reading,

Kim

Sales , , , 1 Comment

Smart Sales Call Questions

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Management guru Peter Drucker famously noted that in order to get the right answers,  it is first necessary to ask the right questions.  Whether the subject is love or money,  many of us do not ask direct clarifying questions because we are afraid of the answer.  It takes courage,  sometimes,  to hear the truth.  But in the end,  only the truth is useful. 

I recently found this list of sales call questions and they are a little scary because they cut right to the heart of a prospect’s motive and let you know what is real and what is not.   I vow to pose these questions in my next sales call because it is far better to know  what I’m dealing with.  Time is much too valuable to waste trying to wrestle an assignment out of a prospect who does not have the means or real motive to hire me.  Write these down and post them at eye level:

1.  In terms of time,  money and/or risk,  what business problem will working with me solve for your organization?

You’ll learn the reason the project is out for hire and assess your ability to do the job.  You’ll  learn whether or not there really is a project,  or if the prospect is merely checking out available talent.  Maybe the prospect only wants to compare the Freelancer they usually use to who else is out there?  If there is not a genuine problem to resolve with a timeline and budget attached,  then your prospect is only window-shopping and there is no contract here.

2.  How will you measure success 60 days after we begin working together?

The answer clarifies the goals and objectives you must meet if you win the assignment and also identifies the metrics that will be used to measure your progress as you work.  You’ll confirm that milestones and metrics have been set for the project and that it is real.  The prospect’s  seriousness and sincerity  (or lack thereof)  will be demonstrated in the response.  You will understand how you will approach the project and reconfirm whether you can meet expectations.

3.  How much better does my  “better”  have to be for you to bring me in on this project?

The prospect’s answer will reveal if he/she knows what they’re looking for in terms of whom to hire as a Freelancer.  Are the expectations reasonable in your opinion and do you have the wherewithal to meet them? Might you have to call in a subcontractor to meet a special demand or timeline?  You can assess the level of interest in your services and determine if you are a contender or merely filling out a list that must contain a certain number of names.

4.  How soon do you need to see progress or improvement for you to know that you’ve made the right decision in hiring me for the project?

Once again,  the prospect will show that he/she has thought things through,  has established clear and reasonable goals,  objectives,  timeline and metrics and recognizes success.  You’ll have another means to confirm that the project is real and there is something for you to pursue.

5.  What process will you follow in bringing me on as a provider of this service?

Process questions reveal how far ahead your prospect is thinking.  This question will demand that the prospect envision hiring you and think through what must be done to bring you on.  What budget is available and who else must sign off on your hire? If your prospect has only a fuzzy answer to this question,  then he/she may not have the authority to hire you.

Thanks for reading,

Kim

Professional Development , Leave a comment

Charisma and the Way You Say What You Say

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Is it my imagination,  or are people called upon to do much more public speaking now as compared to 20 years ago? I had a 15+ year career in sales and that kept me talking all day.   In addition to sales calls,  there were company meetings and I was frequently called upon to give presentations and participate in the whole give and take.   But  there was no need to be  “on”  and repping a brand 24/7.   In fact,  human beings didn’t consider themselves a  “brand”—we had reputations.   We had off hours, during which time we could relax without feeling anxious about it.   That was then.

Now I’ve got the Freelance consulting thing going on and demands to stand and deliver have about doubled.   Networking plays a major role in business development for the self-employed and business owners.   I do some teaching and occasionally speak to a local business group,  to demonstrate my credibility and promote visibility.

These days,  we’re all out there self-promoting and doing all that we can to attract new customers,  retain current clients,  obtain venture capital,  get a job or a promotion,  get our child into the  “right”  school and generally look like we are a valuable asset to those who are holding the goodies we desire.   For obvious reasons,  the ability to communicate well has never been more essential.  We need to learn how to inject some charisma into our presentations.

Charisma means a special gift in Greek and charismatic speakers have the unique and valuable gift of connecting with their audience and persuading them to grant the speaker their trust and loyalty.   Charismatic speakers are able to make their audience understand,  buy in to,  identify with,  get excited about and remember the cause and message that they addresses.   Charismatic speakers are adept at painting vivid word pictures by judiciously weaving stories and anecdotes,  humor and metaphors into their presentation in a way that causes the audience to align with them and their goals and opinions.

We all come by at least some of this naturally.   We all use metaphors,  rhetorical questions and other turns of phrase on a regular basis.  We can learn to become more conscious of our natural speaking style and ability by practicing speaking techniques when chatting with friends and family.   In time,  you’ll be able to comfortably inject some charisma when called upon to speak to a group.

Metaphors  are an excellent way to explain and illustrate a message and can persuade a skeptical audience to understand and embrace a new concept.   Martin Luther King, Jr.  displayed his mastery of the use of metaphor in his 1963  “I Have a Dream”  speech,  when he likened the US constitution to a  “promissory note”  that guaranteed the inalienable rights of life,  liberty and the pursuit of happiness.

 Contrasts  often combine reason and passion.  They clarify the speaker’s position on the subject by comparing it to its opposite.  In his 1961 inaugural address,   President John F. Kennedy spoke the immortal words,  “Ask not what your country can do for you—ask what you can do for your country.”  Benjamin Franklin noted that  “Content makes poor men rich;  discontent makes rich men poor.”  Similes  also compare and contrast,  as Muhammad Ali did when he famously announced that  “I’ll be  floating like a butterfly and stinging  like a bee.”

Then there is the use of story telling.   Stories can be where to use Analogy,  which points to the similarities between two things and on which a comparison can be based.   For example,  if your purpose is to build confidence and loyalty in a group and rally the members to face a difficult challenge,  the story you present may summarize when yourself or a group of people  (e.g. Londoners during the bombing in World War II)  pulled together,  kept their spirits up and faced the challenge with courage and resolve,  eventually prevailing.

Charismatic speakers are compelling and memorable.  Their skill is formidable,  but not entirely unattainable.   With practice,   we can learn to paint the picture for the audience,  frame the message,  influence priorities,  win confidence and portray ourselves as a leader.

Thanks for reading,

KIm

Professional Development , 5 Comments

Find the Leader Within

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This is the last post in the leadership series and I hope you’ve found it beneficial.   I hope that you were moved to recall key moments in your professional and personal life where you’ve stepped up and revealed yourself as a capable leader and also moments where you could have handled things a little better.   Some are born leaders,  but for most of us,   honing leadership skills is an ongoing process.   According to Katherine Tyler Scott,   Managing Principal of Ki ThoughtBridge leadership development specialists in Indianapolis, IN,   “All things being equal,   the best of the best leaders will have emotional intelligence,   self-awareness,   self-management,   social skills and motivation”.

They Are Change Agents

A Senior Program Officer at the Ford Foundation for 10 years,   Linetta Gilbert has doled out millions of dollars to worthy causes world-wide.   Primarily responsible for grantmaking in Gulf Coast states,   the 62-year-old New Orleans resident helped fund the reconstruction efforts after Hurricane Katrina and spent significant time listening to what grantees thought about change,   at times provoking them to higher ideals.

“Sometimes people are in positions of influence because they hold certain credentials or know the right person,   but they are not necessarily committed to the mission”,   Gilbert notes.  “I try to get inside their heads about their own leadership.   I expose them to opportunities to refine their skills,   recommending books,   conferences and training sessions.   I urge them to think about who they are,   what’s next and who in their organization is being groomed to keep the agenda going”.

As a grantmaker,   Gilbert understands that judgment is a quality of leadership that must be honed.   “You have to learn how to read reality truthfully”,   she says.  “It is not something people are born with.   You have to have opportunities to develop and ask yourself,  Is this real? Or is it only real from my perspective’?

In 2010,   Gilbert was invited to co-lead the newly formed Declaration Initiative at  The Ford Foundation,  which aims to eradicate deep  poverty in the United States within the next 15 years.   “I believe that leaders must have a higher power call upon,   some larger connection outside of work,”.   That source,   Gilbert says,   is her power.

They Begin With the End in Mind

Six months into her job as Executive Director at Safe Shores–The DC Children’s Advocacy Center,  a not-for-profit agency that works with abused children,  Michele Booth Cole was tasked with negotiating with the District of Columbia to acquire a new building for the agency.  “We wanted a space that would serve families and be more child-friendly”,  says the 46-year-old.  “The idea was to own the building”.

But when DC officials told her that owning a building was out of the question,  Cole had to reassess.    As she weighed her options,   she realized that her ultimate goal was to secure a larger space and decided to make a counter-offer.  Her organization would lease the new space from DC,  but Safe Shores would have to play a central role in its design.

Cole’s proposal was the turning point in the negotiations.  “Taking a flexible approach allowed the project to move forward and demonstrated a willingness to cooperate on our part”,   commented Cole.   “We had our eyes on the higher goal of serving children in a facility that was worthy of them”.   In 2011,   Safe Shores moved into a newly renovated 37,000 square foot building.

According to Katherine Tyler Scott,  Cole’s ability to focus on the agency’s mission was a key factor in using her power.   “A leader who is self-aware and knowledgeable of the organization’s core values can successfully guide key decisions and enable that organization to be prudent under pressure”.   Cole adds  “Power is about sharing leadership and cultivating others to get things done with a real sense of excellence”.

Thanks for reading,

Kim

Professional Development , Leave a comment

Leadership In Action

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What does it take to be an effective and respected leader?  You must be willing to embrace your strengths,   account for your weaknesses,   believe in yourself and your ideas,  be resourceful and be humble.  This leadership series showcases women,  but the lessons revealed are gender neutral.

They Reinvent Themselves

Sheila Brooks,  56,  grew up poor in Kansas City, MO.   Her parents instilled in her and her sister a value for education.   Brooks admits,  “I’m very demanding of myself.   I set a high standard of quality and excellence”.   After starting out as a news reporter,   she became an Emmy Award-winning news producer.    She then went on to found a video surveillance company in Maryland,   where she won contracts with local police departments and high-level security agencies.   In 10 years,   her business had 73 employees and annual revenues exceeded $1 million dollars.   Then September 11, 2001 happened.

Brooks lost 60%  of her business as demand evaporated.   Clearly,  it was time for a new strategy.   In response,   she created a board of advisers for her company and drew upon her experience in broadcasting to redirect the business to web casting,   media placement and  advertising services.   “Strategically figuring out where we needed to go took courage and determination.  You have to be a risk-taker”,   Brooks says.

Today,  Brooks is once again contemplating her next move.  “My goal is to sell the business in the next seven years.  We must always know when to reinvent ourselves.   We have to be willing to re-engineer”.

They Collaborate

In 2010 Danielle Torain,  then 27,  was both law student and full-time employee.   One week before exams,   she was asked to coordinate the citywide response in her hometown of Baltimore to a national grant competition designed to provide educational services to low-income neighborhoods.   The timing was lousy,   but Torain nevertheless met the challenge and sprang into action by contacting private,  not-for-profit,   government and philanthropic institutions.  “The goal was to bring together organizations that don’t normally interact to share wisdom and resources and plan the course of action”,  Torain says.

As a result of her efforts,   49 public and private agencies collaborated on a proposal that was submitted with 58 letters of support from city and Maryland state officials.  Ginny Clarke,  President and CEO of Talent Optimization Partners of Chicago,   applauds Torain and describes her as a leader who has  “the ability to empower others,  get the best out of them and give them what they need to be successful”.

They Are Servant Leaders

Whether it originates from spirituality or a belief in the social good,  there is power in recognizing a purpose greater than oneself.   Elizabeth Horsey,  54,  is a social worker at a Philadelphia children’s hospital.   Being a social worker in a medical setting requires both resiliency and authority.  “I have to think of words of encouragement to ease the pain of the children and parents I work with.   I’ve learned to advocate in the midst of those who disagree.   I am able to point out people’s strength when others see weakness”.

Leadership development expert Katherine Tyler Scott,  Managing Principle of Ki ThoughtBridge,  the Indianapolis, IN based leadership development company,   notes that while technical skill is important,   it is not the ultimate characteristic of a good leader.  “It takes personal security to be able to stand in that place of conflict,  where people differ,   and still be able to listen respectfully,   question yourself,   and still come out whole”,   Scott notes.   She continues,  “Such leaders have done enough inner work to make their outer work effective”.

Thanks for reading.  To those in the US,  have a happy and safe July 4.

Kim

Professional Development , Leave a comment

Are You A Leader?

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Happy Summer!  It’s the time of year when Freelance contracts may wind down and we find ourselves with more free time.   At this time of year,   I like to focus on professional development.   I read business books,  attend a conference or two and do what I can to make myself a more effective Freelance consultant.   Leadership is an ongoing interest of mine,   regardless of the season.   Over the next  three weeks,   I’ll share with you the stories of 10 women who exhibit characteristics that high-functioning leaders share.

They Take the Initiative

In 2011,   real estate broker Sharon McLennon,  51,  was an incoming board member for a real estate trade organization.   At her first board meeting,   the need for an updated organization website was discussed and it appeared to McLennon that a consensus to commence work had been reached.   Yet  three months later,   work on the proposed website had not begun.  “I became frustrated by the fact that nothing had been done on a relatively simple project”,  McLennon recalled.   At board meeting number 3,   she announced  “We’ve got our current website,   the new content’s been written,   we’ve got our designer—I just need the board to approve this project and we can get this up and running now”.   Surprised fellow board members gave the green light and the new  website was unveiled two months later.

They Help Others Achieve

Ten years ago at age 45,   Kimberley Greenfield Alfonso quit her corporate job as Senior Region Director at a Fortune 100 company to care for her then 3-year-old visually impaired daughter.   She soon found herself wondering  now what?  ” I was so connected to being a corporate woman.  I had gotten to where I wanted to be.   I had arrived”.

Alfonso eventually realized that she knew many women in their 40s who were likewise at pivotal points in their lives.   Some were marrying,  becoming pregnant,  or divorcing.   Others were making decisions around starting a business or becoming stay-at-home moms.   The women needed help laying a foundation for their second acts.   Alfonso decided to lead the way.

A master networker,   she invited 65 of the most accomplished women she knew to meet at her Washington, DC-area home.  The purpose was to get the women to meet each another,   share experiences and stories and  discover resources they could offer one another.   Alfonso continued to host meetings and her group came to be known as The Butterfly Club,  which holds quarterly meetings in Greater DC where women discuss their latest business or philanthropic ventures.

They Fight for A Good Cause

Attorney Francesca Allison,  30,  learned the importance of giving service from her parents,  who were both ministers and who founded a not-for-profit arts and cultural enrichment organization.  Allison says she attended law school to change the world and she looks for opportunities to do pro bono work.   Recently,  Allison has handled an appeal case based on a provision that allows children in Georgia to receive Medicaid benefits,   regardless of their parent’s income.

She represented an appeal for two children,  a 12-year-old who has a debilitating bone disease and a 10-year-old who was born with no eyes and extreme hearing loss.   She spent nearly 200 hours  (think five, 40 hour weeks)  securing affidavits from teachers,   physicians and therapists.   She drove long distances to visit the children.   In previous decisions,   the Georgia court had denied the children Medicaid benefits,  but thanks to Allison,  they prevailed on appeal.   Allison commented,  “This case required an attorney who would not only do what was necessary,   but was willing to sacrifice”.

I’ll be back with  more  leadership qualities you’ll want to nurture next week.  Thanks for reading,

Kim

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Tame the Technology

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Nonstop information crashing into our consciousness via the 24 hour news cycle,  added to the waves of pings from our social media entourage, has caused a whole bunch of us who live in the internet-connected world to feel pummeled.  Stir in the no-end-in-sight economic bad news to the mix and you’ll understand why Freelancers are feeling unacceptably anxious and overwhelmed.  Our colleagues and clients in the corporate and not-for-profit worlds are feeling that way,  too  (maybe that’s why our emails sometimes go unanswered?).

Freelance consultants are nervous about staying current with market trends and selling cycles as we strive to anticipate fluctuating client priorities and keep contracts in-house.  We fear missing out on something important and that causes us to fear not being on-call nearly 24/7.   The mental fatigue and resulting stress take a toll on peace of mind.

Sherry Turkle,  professor of the Social Studies of Science and Technology at Massachusetts Institute of Technology in Cambridge, MA and founder of the MIT Initiative on Technology and Self,  says  “We are struggling with the always-on feeling of connection that the internet can provide,  but we still need to figure out how to limit its influence on our lives.  We sometimes need to get a grip and separate ourselves from the iPhone”.  (New York Times April 17, 2011)

William Powers,  author of  “Hamlet’s Blackberry” (2010),  a book about taking control of your digital life,  appeared on a panel at the 2011 South x Southwest conference in Austin, TX and noted that he witnessed  “…a gigantic competition to see who could be more absent from the people and conversations happening right around them.   Everyone…was gazing into their little devices—a bit desperately,  too,  as if their lives depended on not missing the next tweet”.  (New York Times April 17, 2011)

I hereby suggest that you turn off your toys for a few minutes and let me help you learn how to manage your connections,  rather than be managed by them.  There is a time to  “just say no”  and we can figure that out here and regain control of our schedules,  handle our responsibilities with fewer distractions and increase opportunities for rest and regeneration.

Freelancers fear that if we are not constantly available,  our clients will become upset and lose confidence in us.  We’re afraid that competitors will obtain information that we don’t possess and use it to gain an advantage.  We’re terrified of being perceived as not being on top of things.  Maybe we’ll miss out on a good assignment,  an opportunity to shine and bring in some good billables?  Yet those who study the effects of stress and fatigue on productivity and creativity recommend that we find some downtime,  to recharge the batteries and calm the mind.  It is wise to set boundaries and unplug.

Try this strategy on for size: unless you’re on a big project,  Monday – Friday,  turn your phone off at 6:00 PM and check email and phone messages just once during the evening.   Start your day with a check-in by 7:00 AM.  On weekends,  check for business-related messages just twice a day,  in mid-morning and late afternoon.   Draw a definitive boundary between your working hours and personal time.

Revisit the practice of off-line communication.   Because there is such an intense focus on online social media as a basis for networking,  the value of face-to-face interaction,  or even live telephone conversation,  becomes increasingly valuable in cementing our relationships.   When working with a client,  pick up the phone every once in a while to discuss an issue that you’d like to clarify.  If you’ll be near a client’s office,  extend an invitation to come out and meet for coffee.  It will go a long way in building the relationship and will make working together more effective and pleasant.

Thanks for reading,

Kim

Administrative , , Leave a comment

Evaluate Your Network

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Effective networking is a cornerstone of any flourishing business enterprise.  Who you know and who knows you makes all the difference in business success.  It’s a good idea to periodically evaluate the quality of our professional network.  The first step in this process is actually strategy planning.  What do you want your business to look like in 18-24 months?  What do you need to do,  who do you need to know and who needs to know you so that you will achieve your goals?

Next,  think about your professional network.  Does it appear that tapping into existing relationships will help you realize business goals?  Take stock also of your personal relationships.  Which are deserving of your time and energy and which should be put out to pasture? Might it make sense to add a business dimension to a social or family relationship,  or add a social dimension to a business relationship that no longer pays professional dividends,  but you feel is worth maintaining nonetheless?  You may find that some pruning, reconfiguring and strategic additions are in order.  Read on and get some inspiration to start the process:

What have they done before and what are they doing now?  What is the person’s record of achievements? Is that person continuing to move forward?  If one is not growing,  then one is falling behind.  The value of  a given relationship will  depend upon your resources,  industry and goals.  Look to strengthen and develop relationships with those who can open doors and share relevant information.  Because relationships are a two-way street,  think also of the value that you bring to relationships.  Do you come through when you should?

What is the reach?  When possible,  cultivate relationships with those who have an understanding of and influence in your industry or field of expertise,  or with potential clients who can be referred.  Someone who can refer you to teaching and speaking engagements that will build you CV and bank account will also be very helpful.

Do they have a positive and progressive attitude?  Surround yourself with smart,  positive,  forward-thinking people,  socially and professionally.  Divest your network of haters and slackers.

Do they like to collaborate?  If you see an opportunity to team up and set in motion a mutual win-win,   you’ll need to take the idea to someone who will be open to exploring reasonable options.  We all need to have in our networks savvy and creative people who see the big picture and are willing to keep ego in check in order to accomplish something bigger than either could do alone.

Are they responsive?  Folks must be willing to return calls and emails within a couple of days or so,   barring an emergency,  deadline or  vacation.  When you invest the time and energy to build a relationship,  you want to know that efforts at communication will be respected.   No matter how awesome someone is,  they are of no use to you if they ignore you when you reach out.  If they don’t get back,  then you know you’re not valued.

Thanks for reading,

Kim

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Your Big Client Bid Strategy

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Freelance consultants have to be nimble and resourceful in order to compete successfully and that is especially so when in pursuit of a big-league client.  Winning a big client is tremendous validation,  but when swimming with whales it is essential to take precautions and maintain as much control over the process as possible.   It would be disastrous to do what is second nature to many small business operators and Freelancers: whatever it takes to get the job in and whatever it takes to get the job done.   Pursuing important clients with big contracts out for bid takes a more sophisticated approach.

When assessing and pricing a big  contract,  the project fee attached to your proposal carries much weight,  in more ways than one.   Bid too high and you’re knocked out of contention.   Bid too low,  a common practice of Freelance consultants and small business owners,  and one of two impressions will be made:

1.   That you are perhaps unqualified to do the work because you’re selling your services for too little money,  or

2.   That you’re desperate for business and probably ripe for exploitation.

To both convey the image of a capable and experienced professional and ensure that you make money on the project,  be sure that you thoroughly understand what will be required to fulfill the contract and your ability to do so.   Job costing and cash flow projections will need special care.   Will you need extra expertise for some aspect of this job,  or perhaps an extra pair of hands in order to meet the timetable? 

Realize that big projects for big clients mean big accounts receivable and there can be a downside.   Be honest about how much money you can afford to have outstanding,  even if  payments are received on time.   Help yourself by requesting 20% – 35% of the project fee up-front and due within 15 days of the contract signing.   Set up a payment schedule in your proposal that ensures you’ll be able to pay any subcontractors and also yourself on time.

Freelancers and small business owners often compete on price,  but one is advised to avoid dangerously low bids in order to get work or add a marquis name to the client list,  only to receive very little profit from the project.   Michael MacMillan,  founder and CEO of MacMillan Communications of New York City,  focuses on selling personal attention and customized PR strategies to his clients and providing more bang for the buck.   “One of the advantages of being a smaller organization is that you’re more efficient because there are fewer overhead costs.  We are able to apply more of the project fee directly to account work”. 

According to Jeffrey Bolton,  managing partner at the accounting firm Daszkal Bolton LLP of Boca Raton, FL,  the key to evaluating whether to pursue a big client is to ask yourself  how important that account will be for future business growth and whether the project work fits into your strategic plan,  even if you don’t make money on it.  “If you’re trying to build a reputation,  that foot in the door is necessary,  but you must have an institutional mind-set when taking on a big client and not a mom-and-pop mind-set”.

Thanks for reading,

Kim