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Monday Morning Motivators – May 26, 2008
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Enjoy your java with an eclectic collection of tips and ideas to use today and to get energized for the week ahead. Subscribing and unsubscribing at www.mondaymorningmotivators.com
“The final test of a leader is that he leaves behind him in other men the conviction and the will to carry on.”
--Walter Lippmann
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Table of Contents
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1. Knowing Doing Gap – Linda Fayerweather
2. Why People Buy - Rebecca Booth
3. Routines – Pat Altvater
4. It’s NOT Who You Know; It’s How Well You Know Them – Paula Frazier
5. To Do This Week
6. Fine Print
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1. Knowing-Doing Gap
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Smart companies, big or small, all struggle with taking knowledge and applying it to every day work. One of my first consulting gigs was a landscape company in 1993 that had paid $20,000 for a marketing plan. Three things shocked me then about the marketing report.
1. It was only one page long;
2. It was on target and good;
3. It was never implemented.
Taking the plan’s cost and the “projected lost revenue” the unimplemented plan actually cost over $100,000. When I came along, we implemented the plan and managed to turn a struggling business into a strong viable one. The owner of the firm KNEW what needed to be done; she just didn’t know HOW to start DOING it. This Knowing-Doing Gap, popularized by Jeffry Pffeffer of Harvard, is a documented growth factor for successful businesses. Statistically, businesses that DO will surpass those that KNOW but fail to implement. In Lean Culture, we often say DO SOMETHING because you can always do something else if the first DOING doesn’t get the results you want. What do you know about your business that you are not doing?
Copyright 2008 Linda Fayerweather
Do – Doing - Done! It really is that simple
Changing Lanes LLC
www.ChangingLanes.biz
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2. Why People Buy
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Don’t you love it when you make a sale? If you’re like most, you’re heady with success and joy. But, amid all the glee you are missing a critical opportunity: assessing the reason “why the client bought”.
Knowing what motivated the client to buy and what was the tipping point between your product and your competitor’s product is crucial to continued success. You want to know these things for two reasons:
1. It enhances your chances to sell your product/service to someone else
2. It’ll also help you make a repeat sale to that same client in the future.
Most significant purchases involve the saving of either time or money. Why did this client sign up with you? Was it time or money? Are you promoting this reason in your marketing materials? If not, think again. Saving time and money is like a one-two punch in boxing. It gets your prospects’ attention and gets them to question if they could do better.
Copyright 2008 Rebecca Booth
Marketing Goddess
Imagine That!
419-855-3399
www.rebeccaboothmarketinggoddess.com
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3. Routines
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There’s something that feels really good about routines. We know what to expect because we do it over and over. Some of our daily habits help us and some are just big time wasters. One of my worst routines is that every time I sit down at my computer, after having been gone for even as little as 20 minutes, I check 5 email accounts! I might miss something really important if I don’t continuously check, right? WRONG!
I’m now replacing that procrastination technique with a new routine. Every evening before I leave my office I write down 6 action steps that need to be completed the next day. Then, first thing in the morning, I write out (by hand) 6 major intentions I have for my life and take a moment to visualize each of those intentions as complete. It feels great to do this; I accomplish much more and feel good about myself for incorporating a new positive routine into my life.
So now, every time I log back on to my computer, I review my list of important actions for the day. This really helps me stay on track and not waste time. And oh, if I don’t respond to your email within 10 seconds of receiving it, just know I will get to it before the day is over!
Pat Altvater
Chief “Wizard of WOW”
www.transformationsinstitute.com
www.permanentweightlossebook.com
www.guidedimagerytoreleaseweight.com
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4. It’s NOT Who You Know; It’s How Well You Know Them
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Most business professionals rely on referrals to generate revenue, but they don’t make much effort to strategically build their network (a system of people who serve as resources for you and your business). They leave it up to chance and circumstance. Consistently receiving quality referrals depends on your ability to develop quality relationships with quality people.
First you need to identify prospective members for your three main networks. Every network has a different function. While there may be some overlap, the goal is to select 24 different people for each group:
1. Information Network
a. People who are in the business or profession you are in
b. People who train others in your profession
c. People who regulate, audit or monitor others in your field
2. Support Network
a. Your co-workers, colleagues, associates or classmates
b. Your mentors (current or past)
c. People you have helped
3. Referral Network
a. People who get more business when you get business
b. People you do business with (other than your suppliers or vendors)
c. People you have given information, support and referrals to
Now that you’ve begun to develop the breadth of your network it’s time to focus on its depth. When it comes to building your business by referral, it’s not who you know; it’s how well you know them. Referral Institute’s VCP™ model facilitates the evolution of a referral relationship:
1. Visibility – First people must know who you are and what you do.
2. Credibility – With time and effort they will consider you to be reliable and worthy of their confidence.
3. Profitability – This is when you’ve established a mature referral relationship that is mutually rewarding.
As you begin building and strengthening your network remember that trust takes time. Neal Frazier, a local BNI Executive Director, says it well – “You can’t expect to plant a seed today and pick fruit tomorrow.” Over the next week, take a look at who’s in your network, where you are in the relationship and what you’re doing to purposefully and strategically develop them.
Paula Frazier bases her businesses in Roanoke, Virginia. She is an Executive Director for BNI and part of a select team of Master Trainers for Referral Institute. Over the last year, Paula’s business networking articles have been published nationally. She is also acknowledged in the New York Times best seller, Truth or Delusion – Busting Networking’s Biggest Myths. Check out #33, Delusion with a twist!
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5. To Do This Week
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Commit to an exercise routine that may be as simple as walking 30 minutes per day.
