Driving Value

Many times I meet with prospective CEOs who we would like to be our clients, and they ask the same question "What will you do differently from our current professional firm?" I always answer that we are passionate about bringing value to our clients.

Great marketers understand how to bring value. They know that you can only provide value by first asking great questions and listening to the answers. CEOs are not looking for you to have all the answers on the spot. They are judging you by how you engage them, how unique you are in your style and how passionate you are in wanting to bring value to their company. Engage, unique, passion. My question for you is:

"Have you asked your clients great questions to drive at bringing value to them or have you completed the engagement and ticked the box?"

Recalculating

The journey is usually as rewarding as arriving at the final destination. Every summer, we set our Garmin (we call our GPS, Lizzie) to our favourite resort in Canmore and push Go! The GPS advises us where to turn, how long until we arrive and how fast we are going... easy! And even better, when we miss a turn, we hear the familiar, “recalculating,” and soon we are back on track.

In business development, there is no GPS, although it is a journey to target a potential client, meet with them, build trust and ask for the business. Sometimes the mission of building relationships with new clients is as rewarding as signing the engagement letter.

Wouldn't it be wonderful if Lizzie provided the play-by-play on how to turn a prospect into a client, and when we made a mistake, she would simply say, "recalculating." But instead, as professionals, we are always second guessing our next move, stuck in business development paralysis (doing nothing is an action) and making it all about ourselves instead of our prospects.

Business development is meant to be a fun journey. What are you doing to push GO on your business development journey?

What CEOs Don't Say

I spend a lot of time during meetings with CEOs, listening carefully to what they say, the kind of language they are using to determine how engaged they are during the session. Sure, body language is relevant but the words they use are what I listen too. Are they using positive language; are there hidden meanings in their story? I also listen closely to what CEOs don’t say — why do they not mention their team; are they focused on price; are they the reason the business is in the tank; why didn't they answer my question?

Great listeners understand what kind of language to listen for and what is missing. It takes practice, and it starts by listening closely to significant others in your life — kids, partners and coworkers. Listening is an invaluable tool, yet many people make a habit of not listening well. My question of the day for you is:

"Have you stopped to listen to your clients, what they are saying and not saying, or are you just making assumptions and doing all the talking?"

Your Elevator Speech

When I was at CIBC I learned that when I met someone at a function and they asked what I did, as soon as I mentioned that I was a banker they did one of two things. They either ended the conversation or shared how CIBC lost their grandmothers deposit 16 years ago.

Everyone has a story about a bank. That is why today you will hear me introduce myself this way: “I bring ideas to companies to make them even more successful.” This statement draws them in for an engaging conversation, and then I start asking them questions and make it all about them.

People love to talk about themselves. Asking great questions once you have them engaged is the key. Of course, ask them what they do for a living to get them talking and try to find the connection to build a relationship. I like to ask people I first meet, "So when you are not building patio furniture at your company, what is your passion?"

What is your passion opens up an opportunity to find out who they are and what makes them tick. This interaction is how relationships start. My question of the day for you is:

"Are you still talking about the weather when you meet people or can they feel that you really care about who that person is?"

Compliance or Commitment

You can always tell when someone is into a sport they are playing or just doing it. The great sports players like Tiger, Wayne or Michael are focused on the game. There are others who just show up. The same happens at companies. You can tell the people who show up with their game face on to play and win.

Clients and prospects can tell too. They want to work with companies that have team members who are committed to doing a great job, asking great questions and thinking about their business. They can tell if the people working on their engagement are just doing compliance, that is, doing the bare minimum. CEOs award work to companies that bring ideas/insights, care about their success, think about the future and add value. That is why we have been successful in the Winnipeg market. My question of the day for you is:

"Have you demonstrated to your client that you have your game face on or did you just show up?"

Asking CEOs Great Questions

When meeting with CEOs, it is evident that they are busy people and their time is precious. If you can earn their respect and secure a meeting, you better show up prepared and keep them engaged during your session. Look, I have been in many meetings when the CEO is physically at the table, but mentally we have not engaged him or her. I find that asking great questions keeps them engaged.

Great marketers understand how to ask and when to ask great questions. First, the questions have to be asked with confidence, and you need to demonstrate you have done your homework. Second, the questions have to be relevant. They are judging you by the quality of your questions. My question of the day for you is:

"What are the great questions you ask CEOs or are you still asking, “so tell me about your business?"

Prepare for Meetings

When I was first out of university and training with CIBC in Calgary, I met a young lawyer who was maybe five years older than me and was very successful in the Calgary business community. I mustered the nerve to ask him the secret to his success. He said the one secret to his success was to prepare for meetings. He went on to share that he prepares for 30 minutes before every meeting and by doing so he was miles ahead of everyone else. You see, most people just show up without any preparation. I was shocked at how simple his success secret was; I was expecting a complex formula.

Great business development people prepare for meetings. It works. I have prepared a minimum of 30 minutes for every meeting I have ever attended since that day in Calgary. I have to. I cold call CEOs and meet with business owners every day who are as sharp as tacks. They can sniff out people who are not prepared. However, I am always amazed when I attend meetings, internal or external, at the number of people who have not prepared. My question of the day for you is:

"Are you going to prepare for at least 15 minutes for your next internal or business owner meeting or are you going to just show up and wing it?"

The Words of a CEO

In a recent business conversation with a newly appointed CEO, I asked about finding the right professionals to help him with his business challenges. He disclosed that his lawyer "takes him for granted and doesn't return phone calls." I wondered why the CEO and the company would tolerate such terrible service. He said, "I don’t know where to turn to find professionals that I can trust".

It seems odd that a $50 million company would have difficulty replacing their lawyer with one that cares enough to return calls and add value. However, it is not every day that they look for new professionals, they inherited the one that took them for granted, and now they have more significant challenges to tackle and focus on.

People like me are out there telling companies that there are professionals who will bring value. My question of the day for you is:

"Do you have clients that you are “taking for granted” and if so, are you going to pick up the phone to schedule a visit as soon as you finish reading this?"

All it Takes is One Inch

I have presented dozens of times to professionals about sales strategies and client service. In my presentation, I remind professionals that they are perceived in the same way as contractors who fix your plumbing. Why? Well, contract plumbers rarely call back when you phone them to help you, they don’t show up when they say they will and many of them cut corners and don’t do the best job they can. When you find a plumber that does great work, shows up on time and returns your calls, you keep their number in your Blackberry and likely don’t share it with many people, so he is available for you.

Why is service so hard to find in the professional “services” industry? I remind professionals that if the level of service of their industry is 10 inches from the top of the table, meaning average service that everyone expects, then the firm that will really stand out needs to be only 11 inches from the top of the table. The stellar firm need not be 36 inches from the top of the table. The distinction is that to shine as a professional you need to “consistently” provide service that is just a tiny bit better than average and you will appear to be a superstar! My question of the day is:

"What are you doing today to ensure you consistently remain one inch above your competitors in your profession?"

I Have Info — Call Me

Last week I was talking with a professional, and I told him I was going to meet a mutual colleague. He mentioned that the person I was going to meet wanted to learn more about his recent executive MBA course at Queen’s University and that the person I was meeting should call him. I was perplexed that the person with the info from the Queen’s program would not want to call the person himself to share the info rather than pass along the info through a third party, me, and put the monkey on the other person to call him.

I thought about this for a day and then realized that this is why professionals hold information and wait for clients to “seek” out the info. You see, they have the info and have been programmed to wait for others to seek it out. It makes you important. Seeking out info is hard work and provides an arena for us versus them, which is not conducive to strong client relationships. It leads to miscommunication and a feeling that you do not care about your clients. My question of the day is:

"What information do you have that your client is waiting for and are you going to pick up the phone to provide the information or wait until your client calls another professional?"

Trust Me

In a meeting between an owner of a transportation company and a prospective client, I was delighted to be part of a candid conversation about trust. The prospect was sharing how he was looking for a transportation company that will be a partner, and that would only happen through transparency and trust. In his experience, he continued, a combination of openness and communication increased the trust that would in turn “spark” innovation and passion. With this passion, the potential exists to disrupt the status quo and have a competitive advantage.

Wow! Such rich dialogue in a discovery-based business conversation about transportation.

What would it take for professionals to feel the need to be transparent, i.e., own up to mistakes, communicate, bring ideas and as a by-product become a trusted advisor?

In the recent PwC white paper, Trust — the overlooked asset, the authors state: “We believe that seeing and valuing trust as an asset to be built, managed and protected — in the same way as more tangible business assets — can enable organizations of all types to turn this important but elusive concept into a source of real competitive advantage.” My question of the day is:

"As a professional, how many of your clients say that you “spark” innovation in their company?"