How do you figure out what your clients really want so you
can turn them into repeat customers and even professional advocates? What you
want is to transform these folks into members of your team--people who are
instrumental in helping your business reach that next level of success.
The challenge that every
entrepreneur faces is the daily grind of running a business, which requires
tremendous focus and energy. And if you're a solo entrepreneur, you face the
reality that your ability to grow is equal to the capacity of one person--no
matter how great you are.
That's why maximizing business
relationships--both inside and outside your business--is critical. While that
can sound easier said than done when you're up to your eyeballs in the actual
work that pays the bills, doing some practical planning now can lay the
foundation for the next stage of prosperity and expansion. Here's a quick
approach to start growing and making the most of your time.
Clarify Your Vision
Start with your vision and where you see
your business going. That'll help you determine your short- and long-term goals
for the company. Ask yourself these two simple questions:
- What do you want for your
business and for your life?
- What will that do for you?
For example, your answers might
be "I want my revenue to grow by 20 percent this year because it'll let me add
staff, so I won't have to do as much of the daily work."
How can you get to your goal?
Identify Your Teams
Your team consists of two legions: Your
internal team consists of your staff and business partners; your external team
includes your trusted advisors, clients and prospects. How do you harness the
best and brightest among them and tap into their talents?
Let's look at your internal team
first. This is your key leverage. Are they all operating at capacity, fully
motivated, with clear marching orders? When I coach, I often find that an
entrepreneur's staff has a limited role, when in reality employees could each be
performing additional tasks important to growing the business. Are you fully
tapping the talents of the people who work for you?
Recently, I was coaching a close friend, Isi Albanese, who owns Bellizzi, a very successful restaurant in Mt. Kisco, New York. After 16 years, Albanese decided to focus his energy on finding new ways of expanding revenue beyond the traditional restaurant business. He had already established a successful corporate catering business and, while the local Chamber of Commerce recently awarded Bellizzi "Business of the Year," he wanted to grow it further by expanding the menu and scope of services.
After much planning around a longer-term vision, Albanese understood that this expanded strategy would enable him to share his good food and exceptional client experience with more businesses in his area, as well as enable him to leverage his investment in staff and additional resources. Albanese was delighted when his tenacious marketing approach paid off as he won a contract to provide the birthday party catering for The Saw Mill Club, a local health club he’d been working with for years.
Quickly, he realized that to
successfully run this expanded venture he needed a director of catering. So he
interviewed for some time. When it became clear he still hadn't found the right
person, his part-time hostess stepped forward and said, "I can do that." And she
could. She'd done a similar job in the past. For Albanese, his expanded vision
around building his corporate catering business is paying off--for him and the
businesses in the area.
The answer to his staffing needs
was right under his nose. He was able to leverage an existing and talented team
member, create a career path and share the excitement of the new venture.
Sometimes leveraging employees is a matter of simply asking them what they can
do well and where they see themselves going--and then listening. Ask them how
their skills might be better leveraged for the benefit of the team and how your
operation can be better streamlined. You might be surprised at the answers,
ideas, resources and new team members you get.
How do you harness your external
team?
Much the same way. You'll want
to concentrate on people who resonate with you--those who appreciate what you do
and how you do it. These people will become your professional allies and
advocates so, in effect, you begin to operate as a team. Most important, you
want to be as open to their thoughts and ideas as you would be to those of your
staff. Once you identify the top 10 professional advisors, clients and prospects
in your life, ask them what you do well, what you should change or
improve, and how they'd describe your business to a friend or associate.
One sure way you know you've
arrived is when you're creating a value proposition and answering clients' needs
before they've even discussed those needs with you.
A financial wealth advisor I
coach in Newport Beach, California, had obtained a level of enviable success,
but still knew there was more he could do for his clients--many of whom are
entrepreneurs. Until a few years ago, my client had been viewed as a broker,
plain and simple. But when he began marketing the fact that he was a
full-service wealth advisor who could help clients with retirement plans, estate plans,
college planning, business planning and even help them obtain advantageous loans
through his broker-dealer, he achieved the next level of business success. He
answered clients' needs before they even voiced them and became their
partner.
Move the Plan Forward
Now is the time to put your plan into
action. You can do that by asking yourself this simple question: Which 10 people
could have the greatest impact on my business in the next 90 days? Develop your
plan of action around how you can get better connected to these people, either
through unique meetings, lunches, dinners or networking events.
Now move forward. What will you
hold yourself accountable for in the next 90 days? During the next year?
Following your plan to maximize
your contacts with key people, in your business and outside it, will deepen the
connection you have with key constituencies and help you build and strengthen
your team. You'll better understand your teams' needs and how you can fill them
with operating strategies, products and services. You may even develop new,
meaningful relationships that you hadn't thought of before--an added benefit as
you strive for that next tier of success.