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

Administrative , , Leave a comment

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

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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

Business Strategy , , , , , , 1 Comment

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

Business Strategy Leave a comment

How Will Your Garden Grow?

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It is often useful to look backward before one moves forward.   We may be surprised to learn that our agrarian past holds valuable lessons that can be directly transferred to today’s fast-paced,  high-tech,  high-stakes and unsentimental business environment.   In Summer 2011  I read about a farmer in Georgia named Bobby Kirk,  who made national news when he wisely pointed out that it was too hot to fish.   Summers are hot in Georgia,   so I’m sure he was right.   Bobby Kirk’s folksy observation made me think about things I’ve read that compare farming and gardening to finding clients and creating more business.   Here’s a distillation of some Farmer’s Almanac-type wisdom that I’ve picked up along the way.  I hope you find it useful.

I. Plant seeds so that you will reap a harvest.
Whatever actions you take that will grow and nurture your business venture are the seeds.  Update your assumptions regarding client motivations for hiring your type of services or customer preferences in your product category.  Update your info on competitive activity.  Attend a workshop or take a course for professional development.  Read one business book per quarter,  to sharpen your skills and get some inspiration.

II. Tend your garden.
Plants,  prospects and colleagues all have their preferred form of follow-up actions.  They all want to hear from you! Plants like sunshine,  fertilizer and water.  Prospective clients who showed more than a passing interest in your services would appreciate a call or email from you,  inviting them to lunch so that you can get to know each other better and explore how your expertise can address their business needs.  The colleague who asked you to provide a reference or answer a question would like to hear from you also,  preferably within one week.  Research shows that it takes six contacts to establish the foundation of a meaningful relationship.  Follow-up,  follow-up,  follow-up in anticipation of your harvest.
III. Last year’s crop is history.
Weather,  predators and pestilence can wipe out a garden.  Shifting business priorities,  tight budgets and competitive activity can hurt your business.  Whether you have a farm,  a consultancy or an auto repair shop,  last year’s crop is just that.  Glean available lessons from your bumper crop or plague of locusts and use that knowledge to reconfigure your strategy and work smarter next time around.
IV. The more seeds planted,  the bigger the harvest.
If you expect to grow your business you must plant more seeds,  or the harvest will be meager.   Stay focused and discover and/or create money-making opportunities.

V. Plant what you want to harvest.
If you want basil and tomatoes in August,  then plant them in May.  Who do you want to be your clients?  Learn the best way to approach them and persuade them to meet with you.  Monitor which products/services are selling and to whom.  Is there a niche market you can develop? Which categories of clients will be most profitable to your business and how can you access them or increase your access? Analyze your financials,  brainstorm options,  formulate a strategy,  plant seeds,  follow-up and reap your harvest.

Thanks for reading,
Kim

Sales , , , 2 Comments

Your Sales Pitch and What the Client Thinks About It

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Selling is a huge part of a Freelancer’s job,  because we don’t survive if we don’t sell someone on the idea of hiring us.   In other words,  a Freelance consultant is a salesperson first and foremost,  regardless of the services we provide.   We must keep our selling skills razor-sharp and be forever mindful of what a prospective client needs and wants.

Before you waste time making some grandiose presentation in your next prospective client meeting,   put yourself into the shoes of the person or team you’re trying to sell.   Because you’re in business too,  you know that every day  (or so it seems)  someone is trying to sell you something that you probably don’t need.

Take this reality test first.   Whenever you buy or sell anything,  ask yourself  these three questions,  which will be approached from your personal point of view when buying and from your prospect’s point of view when selling:

1.   What do I need this for?

2.   Why do I need yours?

3.   Why do I need it now?

These are simple and uncomplicated questions,  but they’re not always easy to answer.   When you can convincingly address these questions from the client’s perspective,   I guarantee that you’ll be able to sell them  (assuming that they have the budget).   This exercise forces us to a deeper,  less self-absorbed way of thinking about what we sell and how we sell it and will  result in a more effective sales presentation.

The first question,  “Why do I need this?”  forces the seller to expertly define the value proposition.   In the pre-sales meeting discussion,  ask questions that will help you understand why you’re being invited to meet with this prospect,  what the pressing needs and hot buttons are and what the client may be worried about.

Understand the objectives and how whatever it is you do fits into the big picture.   Begin to understand how what you offer can successfully achieve those objectives and ensure realization of the big picture goal.   Then,  figure out how to express the value of what you bring in language the client will understand.

The second question,   “Why do I need yours?”  is when the seller describes the unique differentiators,  the competitive advantages.  What would make the prospect pay you to supply this product or service?   Here is where we describe that which sets us apart,  why we’re better than the rest,  why it makes sense to go with us.  Answers to this question are formed in bullet points.   They are crisp and clear,  easy to express and remember.

The last question,   “Why do I need it now?”  is the most important of the three.   Here is where the seller states the most compelling  drivers—the need,  pain,  opportunity,  event,  etc.,  that will cause the prospect to make the decision to use your product or service and commence the buying process immediately and not at some yet-to-be-determined point in the future.

This question makes us think seriously about prime motivators and how to eloquently and succinctly express them to the prospect and make him/her want to do the deal right now.   Is the need for your product or service an immediate priority?

If you’ve taken the initiative to approach the client rather that the other way around,  you may find that you’re ahead of the curve,  that you’re presenting a course of action that the prospect isn’t prepared to take,  that he/she hasn’t yet bought into.  If that is the case,  you will have a long market education cycle ahead of you and may well end up empty-handed.   Conversely,  you may learn that you’re too late and the need for your solution has passed.

Nevertheless,   however you mange to get yourself in front of a prospect,   answering these three questions first will serve you well every time.

Thanks for reading,

Kim

Survival Strategies , , 1 Comment

Bouncing Back from Adversity

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Every once in a while things fall into place,  our wishes come true and the seeds we plant bear fruit.   But inevitably,  we’re bound to get stung by a territorial hornet.   The strategic plan and common sense precautions fail to produce the expected results.  Adversity strikes and the garden falls apart.

 Maybe you lose your biggest client to a wily or better-connected competitor.   Maybe demand for your services suddenly diminishes.  You’re devastated and depressed,  insulted even,   and feeling like a truck ran over you.  You’re frightened and wonder how the bills will be paid. 

 Nadine Thompson,   founder and CEO of Soul Purpose,   a New Hampshire based direct sales company that produces organic beauty products,   knows this crushing experience intimately.   In 1999,   Thompson founded the herbal beauty care company Warm Spirit.   The company gained national recognition,   was featured in Oprah Winfrey’s O  Magazine,   counted actress Diane Keaton among its celebrity endorsers and had over $16 million in annual sales. 

But  in 2007,    Thompson lost Warm Spirit in a hostile takeover that was precipitated by a power struggle over business strategy with a partner who was providing significant financing.   To her horror,   she realized that not only was she not an equal partner in the business with this financial investor and his partner,   but  she didn’t own even a single share of the company that she created and nurtured.

Shattered,   yet determined to re-group,   Thompson pulled herself together enough to realize her own complicity in the demise.   Obviously,   she neglected to perform basic due diligence and have her attorney and accountant parse the documents and explain to her the full impact of what she was doing when bringing on the  investors.   As a result,   she unwittingly signed away her company in exchange for additional financing.

Fortunately,   Thompson possessed enough clout to quickly secure  financing for a new venture and she was able to launch Soul Purpose in 2008,   less than two years after the takeover of Warm Spirit.   Of her experiences,  Thompson says   “I believe more than ever that entrepreneurship is a journey…..Successful entrepreneurs are those who are able to learn from challenges and use resilience to bounce back from perceived failures.”   Thompson reveals lessons she learned:

1.   Entrepreneurship by definition involves risk.  Accept that.

2.   Opportunities for growth are often disguised as failures.

3.    Intuition is a gift.  Do not ignore it.

4.   Learn from your mistakes and do not repeat them.

5.    When criticized,  hear it with a  “grain of salt”,  but always ask yourself what truth or opportunity for growth is embedded within.

6.   Work not just hard,  but smart.

7.   Allow yourself time to rest and recharge your batteries.

8.   Have faith in yourself and your vision.

 

Thanks for reading,

Kim

Sales , Leave a comment

Negotiating Tips

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“What’s your best price?”

“That’s too expensive,  we can’t budget that amount.”

“Last year I hired one of your competitors to do the same thing for half your price.”

Freelancers,  business owners and of course salespeople are confronted with the above statements on a regular basis.   Customers are always angling to get the goodies on the cheap.   We need the sale,  we need the work because we need to get paid and that puts us in a vulnerable position.  How can we command what we consider to be  a fair sum  for the top-drawer services that we deliver?  To get what we feel is our due,  it’s imperative that we sharpen our negotiation skills.

Many people are afraid to negotiate.  But all of life is negotiation,  if you think about it.   All relationships involve  give and take,  do they not? Life is all about the exchange of what is valuable: time,  love,  expertise,  friendship,  products and services,  money.   To frame the process of negotiation in that light is to de-mystify it,  take away the fear and encourage one to learn to become more adept.  The tactics listed here will help:

The cards you hold

First,  understand the value of what you bring to the table.  Do your homework and investigate your competitive advantages.   How urgent is the need for what you’re selling?  Who else can match or possibly exceed you in quality,  expertise,  price and/or timing?

The person with the best data often triumphs,  so learn as much as you can about the prospect and any competitors.  If possible,  figure out if the prospect has the ability to do the project in-house.   Ask whether this project been done before and if so,  who did the work?  While you’re gathering intelligence,  try to figure out whether they might be inclined to cancel the job if they can’t get what they want for cheap money. 

Identify what the prospect wants,  why they want it and what they gain by having it,  or lose by not having it.  If a lot is on the line,  that strengthens your hand and vastly improves your chance of getting paid what you want,  depending on who you’re competing against.

Re: competitors,  find out who they are and if a prior relationship exists and why the prospect didn’t call that company/Freelancer in again?  Are they in search of something else,  or is it required that a certain number of vendors be interviewed and that’s why you’ve been invited to bid?  A vendor who’s done business with the prospect previously has a huge advantage,  but if you can make a good case,  it’s possible to scoop the business.  Maybe the administrative assistant can fill you in on a few things,  so be friendly and diplomatically ask a couple of questions.

Practice

Hone your abilities and your confidence by incorporating negotiation into your everyday life.  You’re liable to be pleasantly surprised by the receipt of a few unexpected benefits.   When making large purchases,  bring your checkbook.   Ask the store clerk  (who will have to consult the manager)  what the discount is when you pay by check  rather than by credit card  (merchant credit card processing fees cost more money).

If you visit a flea market or antiques store,  ask for 20%  off the marked price.  Again,  bring your checkbook and sweeten the deal by allowing the merchant to avoid the credit card processing fee and pass the savings onto you.  Even when you’re paying by credit card,  requesting a 10% – 20%  discount on original art,  furs and high-end jewelry allows the merchant to move product that might otherwise languish and saves you money.  You’ll be so proud of yourself!

Be confident and pleasant when you ask for your discount.  Ask for a little more than what you expect to receive  (your prospect will do that as well,  when squeezing you for a lower fee)  and expect to wind up somewhere in the middle.  Get comfortable with silence when negotiating.   Make an offer or respond to the client with a counter-offer and then shut up and wait for the response.  You may go back and forth a bit,   but hang in there and don’t be afraid to do a little horse trading.

Walk away

When entering a sales negotiation,  always have your minimum standards in mind and adhere to them.   Be prepared to leave the business on the table if you feel the prospect is out to exploit you.   It won’t help your cash flow,  but you’ll be able to hold your head high and become even more savvy as you successfully sell to the next prospect.

Thanks for reading,

Kim

Marketing 4 Comments

Follow-Up Your Inbound Marketing

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Inbound Marketing,  the strategy and practice of persuading prospective clients to contact a business by offering information on,  for example,  a website or social media platform that piques a prospect’s interest and leads that individual to contact the business,  stands in opposition to Outbound Marketing,  which encompasses traditional marketing practices such as advertising,  participation in trade shows,  sending out press releases and making cold calls as a strategy to appeal to prospective customers.

Either method can be effective and one is advised to implement both to a greater or lesser degree depending on one’s clientele.  Inbound Marketing is all the rage in some quarters,  as it has the potential to deliver self-selected prospects.   In 2009,  US companies spent $22.7 billion on internet based advertising designed to drive Inbound Marketing to both B2B and B2C customers.   Yet as with so much in life,  follow-up counts.   Time,  it turns out,  is the enemy of Inbound Marketing.

Do it now

Unless your product or service can be purchased online,  fast follow-up to Inbound Marketing inquiries is absolutely essential.   A 2010 study conducted by the Harvard Business Review revealed that the average response time to an Inbound Marketing lead is 42 hours.  Evidence has shown that waiting nearly two days to get back to a prospective client may very well cause you to lose your chance.   In 2006,  James B. Oldroyd,  professor at MIT Sloan School of Management,  teamed up with the sales technology firm Inside Sales to address the question of the ideal follow-up time-frame for web-generated leads.

Dr. Oldroyd analyzed three years of cold calling data across six companies: 15,000 sales leads generated from 100,000 + cold call attempts.  He found that Inbound Marketing leads have an extremely short shelf life.  His data showed that 5 minutes is the best time-frame and that any response made after 30 minutes was a waste of time.

If follow-up was made within five minutes,  the likelihood of a sale resulting was four times greater than if the call back occurred from five to ten minutes after the inquiry.  Freelancers can take that to mean our follow-up needs to occur within 24 hours; waiting even two days to call someone back could cost you.

Time it right

There are also many theories floating around about the best days and times to contact a customer.  Oldroyd studied that issue as well and discovered that 8:00 – 9:00 AM and 4:00 – 5:00 PM are the prime times to call.  1:00 – 2:00 PM is the worst time of day to attempt contact.

Popular wisdom has it that Monday is totally the worse day to call anyone and there is a school of thought that claims Friday is the best day,  since clients are allegedly in a good frame of mind as they wind down and head into the weekend.  Oldroyd’s study revealed that neither day is best or worst.

When it comes to cold calling or following up,  Thursday reigns supreme and Wednesday is a close second.   Friday emerged as the worst day to call and the other days are somewhere in the middle.   So if you’re unable to respond back within the ideal time-frame for your clients,  a reasonable Plan B is to call on a Thursday,  between 8:00 – 9:00 AM or 4:00 – 5:00 PM.

The moral to this story is pretty simple,  actually.   If you decide to direct valuable resources into an Inbound Marketing strategy,  then make sure that you or your team are prepared to respond to prospects in a timely fashion.

Thanks for reading,

Kim

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Your Brand: Remix and Refresh

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Freelance consultants represent and inhabit our brand completely.   We are what we do and it’s to our advantage to be known for what we do because it’s good for business.  It is most advantageous to be considered a known quantity,   the obvious choice when clients are in need of our service category.   At the same time,   it is wise to take a page from the Nicki Minaj playbook  (authored by Madonna,  as you know)  and do a remix every once in a while,  to remind the marketplace that what we bring is a little ahead of the curve: au courant, relevant and therefore,  worth a premium.

So maybe every three years or so,  one may want to shuffle the cards,  or play the hand a little differently.  Before making any major changes,  however,  you are advised to obtain a clear understanding of what would be useful to tweak and what to leave alone.   To do that effectively,  it’s important to— guess what?  Talk to your clients.  If possible,  speak also with those who use your category of services but haven’t hired you.   Until you determine what you and your brand represent to clients and moreover,  get a handle on why certain folks don’t hire you,  your rebranding strategy will be counterproductive.

Media titan Kenard Gibbs,  co-founder of Madvision Media and former president of VIBE Magazine,   recommends that like Stephen Covey,  author of  “The Seven Habits of Highly Effective People” (1989),   you begin with the end in mind.   “You need to have some idea as to what you are ultimately trying to achieve …..The end goal dictates how you proceed…..”

Gibbs advises that a SWOT  (Strengths,  Weaknesses,  Opportunities,  Threats)  analysis be done once the customer,  industry and other marketplace research have been performed.   The SWOT internal  (Strengths & Weaknesses,  e.g.  strategic relationships and expertise)  and external (Opportunities & Threats,  e.g. market trends,  the economy,  client needs)  analysis guide your rebranding strategy and identify new possibilities that expand the reach of your potential client base.   SWOT will also ensure that you maintain services that clients value and that your self-editing is perceived as both logical and authentic for you. 

Timing is also of the essence,  so be smart about the rebrand roll-out.  Set a realistic timetable.    Create a timetable for the entire process,   from the client and market research and SWOT analysis to rebranding conceptualization,   strategy formulation,   implementation and assessment phases.

Finally,   give consideration to how and when you will announce to clients and colleagues that you’ve refreshed your brand and what that means.   Gibbs says  “You need to develop an integrated media plan to show that you are available to clients in new and even more useful ways,  that there is a new way to interact with your brand.”   Social media and website updates are de rigueur,   but press releases and paid advertisements in selected media outlets are not to be ignored.

Thanks for reading,

Kim