Business Development Archives | Page 2 of 225

Here are some people your business needs to avoid

July 11, 2021 by Jim Connolly

Image: Jose Aragones

There are certain people who you and your business need to avoid.

Some are easy to spot.

The business consultant who claims to be in demand, yet offers free consultations.
The web designer whose website is outdated and ugly.
The marketing expert who has to pester people on Linkedin, because their own marketing doesn’t work.
The copywriter whose content is uninspiring.
The leadership expert who’s just like all the other leadership experts. (Think about that).

Others are harder to spot.

The strategist whose own strategy isn’t working.
The accountant who understands the numbers, but can’t express what they mean to your business.
The PR person whose own PR doesn’t create any meaningful buzz.
The business coach who has never built a successful business.

Here’s the thing: With a slick website and some testimonials (fake or otherwise), anyone can claim to be an expert in anything. So, before you hire the services of an expert, ask them to back up their claims in a way that is both meaningful and verifiable.

How to avoid making a costly mistake

One of he best ways to avoid hiring the wrong provider is via personal recommendation. Ask your friends and trusted contacts if they have someone suitable they can endorse to you.

Tip: Make sure the person giving you the endorsement has first-hand experience of the provider. This is critically important. Occasionally, a friend or contact may give you the name of someone they’re aware of from Linkedin or from a Facebook Group they’re in, etc., with no actual experience of the person’s ability or effectiveness.

Even if they have first-hand experience of the provider’s work and their recommendation is glowing, still do some background research. Be as sure as you can be. Only when you are fully satisfied with their credentials should you consider hiring them.

I hope this helps you avoid making a costly mistake. Equally, I hope it helps you locate, and benefit from, the best quality providers for your business.

Sam urgently wants to spend $95,000. Here’s why this matters to you

July 5, 2021 by Jim Connolly

Image: Drew Beamer

If you’d like to see a surge in new, high-quality clients, then today’s message is written just for you. It all starts with Sam and her problem.

It ends with a proven way for you to transform the future of your business.

Sam is a successful business owner. She needs a great new website for her business. She has a significant budget and is very eagerly looking to invest.

However, Sam’s now presented with a huge problem! All the web design providers she’s found have snazzy looking websites, as you’d expect. And on these websites, they make the same lofty claims about their services.

They say they have a great, experienced team.
They say they use the most up-to-date design techniques.
They say they understand the needs of their clients.
They say they will give you a dedicated account manager.
They say they will build you a site that engages your marketplace, drives sales and gets your business noticed.
They then provide predictable case-studies or testimonials.

How the heck is Sam supposed to choose?

In essence, none of these providers have given her any reason, why Sam should hire them, as opposed to their identical looking competitors.

And these same web design companies are wondering why business is so slow. They’re sitting there, right now, blaming coronavirus, the economy, etc. They’re waiting for things to improve.

Why this is YOUR problem too

Whatever industry you are in, right now, there are people in Sam’s position desperately keen to hire you. Money is not an issue. Plus, they are really eager to get moving. They just need to know that hiring you is the right decision.

Now, maybe you already get these high quality, eager-to-proceed enquiries regularly.

But let me tell you, the majority of small business owners don’t.

Most people reading this are suffering from an unpredictable flow of new clients. This makes it impossible to plan ahead with any real confidence. They’re working hard. They’re darn good at what they do, too. Yet to their marketplace, they look way too similar to their competitors.

You’d think the answer was obvious

And it is. They need to look at what their competitors are doing, then build a service that’s meaningfully better and market it correctly.

But that’s NOT what allows the problem to persist!

What allows the problem to persist, is that too many small business owners think it doesn’t matter.

Among them are the web design companies in Sam’s marketplace. Who are capable of delighting Sam with their service, yet who are missing a (minimum) $95,000 web design project. Of course, they’re missing out on countless other great clients too.

All the time wondering why business is so quiet.

We need to be smarter than that. So, learn how to stand out, then communicate it effectively. Or find someone, who can show you how.

Anything less and you’re leaving a fortune on the table, needlessly.

What I learned, after making two massive mistakes

June 23, 2021 by Jim Connolly

Image: Sarah Kilian

I made a couple of epic mistakes when I started out in business. Here they are, along with a powerful lesson that you may find useful.

I was prompted to write this after a talk I gave to a group of young entrepreneurs. One of them asked me a great question. They wanted to know; what was the most valuable lesson I learned, from my first year in business?

The answer was easy.

I remember it well.

Because it was so painful.

Sincerely wrong

My answer began with a quote from Jim Rohn:

“Sincerity is not a test of truth. We must not make this mistake: He must be right; he’s so sincere! That’s because, it’s possible to be sincerely wrong.”

I explained that during my first year as a business owner, I’d made 2 extremely bad decisions. I made them based on feedback from a couple of people I trusted. I was in my twenties at the time. They were 20 or 30 years older than me. They were also good, genuine and sincere people.

Making decisions based on their advice seemed sensible.

It wasn’t. Oh man. It really wasn’t!

One of those decisions lost me an amazing opportunity. Another cost me a fortune and almost left me broke. I quickly learned that I had to be a lot more discerning, regarding who I went to for important advice. It was around that time that I discovered the above quote from Jim Rohn.

From that point onward, I decided the best source of business advice was from people, who’d already achieved what I wanted to achieve. I’ve followed that rule ever since and have never once regretted it.

My original approach failed me in 2 important ways

Firstly, their geographical proximity to me was not a useful way to determine the value of their feedback. I rely on experts today, who are located all over the world.

Secondly, they were knowledgeable, but they were not entrepreneurs.

One was the branch manager at the bank where I opened my first business account.
The other was the practice manager at my accountant’s office.

They remained salaried employees for the remainder of their careers; never actually going into business for themselves. They operated from the employee mindset.

They saw risk in everything. They’d advise me against doing anything, unless there was a guarantee, in advance, of success.

Business doesn’t work like that.

In fact, life doesn’t work like that. And it never has. Otherwise no one would ever start a business, or get married, or start a family, or buy a new home, or travel the world or do anything. Success comes from minimising risk. Not from avoiding potential risk. Both of the people advising me were sincere. But the advice they were giving me, as Jim Rohn said, was sincerely wrong.

Who is currently influencing your decision making? That’s a question worth considering. Especially if your business isn’t making the progress you want or need.

How to be one of the highest paid people in your industry

June 21, 2021 by Jim Connolly

Image: Isaac Smith

A reader emailed me with a great question. She asked: “What’s the most direct route to becoming one of the best paid service providers in my industry, Jim?”.

I told her I’d share my answer here, as I know it’s something many of you will find useful.

Sometimes, the best answer to a problem seems too simple to be correct. Too good to be true. Thankfully, when it comes to attracting the very best clients and fees, the simple answer is also the right answer.

Drum roll please…

You attract better clients, better projects and better fees, when you solve better problems.

What do I mean when I say “solve better problems”?

I’m suggesting you deliberately choose to apply your skills (in whatever area of business you’re in) to the most challenging work. I’m talking about the really tricky stuff. The demanding work, which requires more thinking, deeper problem solving and greater effort.

Here’s why this approach is so powerful

Very few service providers deliberately choose to solve the most pressing and valuable problems. The vast majority do what’s expected. In other words, they work hard doing their best possible version of what their marketplace expects from someone in their industry.

If you’re willing to embrace solving better problems, it presents you with a double opportunity.

By seeking out the most challenging work, your fees are not only higher, you also find yourself with very little (often zero) meaningful competition.

Hold on. There’s another benefit.

The providers who focus on solving the best problems aren’t only (by far) the highest paid, with the least competition. They also get to work every single day, on the most interesting and professionally rewarding projects.

Let’s recap. By shunning the middle ground and choosing to solve better problems you get:

The best clients.
A chance for you to earn the highest fees in your industry or profession.
Far, far less competition. Read this.
The most interesting type of work.
Bigger and better rewards on every level.

Easier said than done?

Yes, of course it is.

But that’s precisely why this opportunity exists for you today.

A little known tip that helps service providers attract massively more clients

June 18, 2021 by Jim Connolly

Image: Sigmund

Before someone decides to hire you or buy from you, they need to feel confident. So they start looking for clues. Clues that will tell them whether they should hire you or avoid you.

Why?

Because your prospective clients have all made bad decisions before.

They’ve been let down.

They’ve had promises broken.

Some will have even been ripped off.

This time they want to get it right. And that’s why, before they invest in you they need to know:

If you’re reliable and likely to keep your promises.
If you’re experienced at solving whatever problem or problems they have.
If you offer value for money.
If you’re approachable.
If you offer the flexibility they need.
If you make it easy to do business with you.
If your fees match your promises. (Promising great service for an average fee is the main way to scare them off).
If you seem to love what you do. Note: This is easy to overlook – but it’s really important. Here’s why.
If your customer service is up to their standard.

You get the general idea.

They’re looking for clues that help them build the right picture. And here’s why this matters. If it’s a picture they trust, you’re hired. If not, you lose. People are making these decisions all the time, based on the clues you have left. Let that sink in for a moment.

Where do your prospective clients look for clues?

Almost all will do the following as a bare minimum. They’ll visit your website. They’ll check your social media profiles. They’ll search for your name and company name on their preferred search engine, to see what others are saying about you. If they speak with you, they’ll obviously be looking for clues in what you say. Most will go several levels deeper. This is especially the case if there’s a lot of trust involved in the services you provide.

Depending on your industry and how cautious the prospective client is, they may dig even deeper.

What kind of picture do your clues paint?

For example, every business owner claims to offer a professional service. However, as you know, many operate from a cheap looking, outdated website. This instantly turns prospective clients a way.

Does it really matter?

Yes. It’s extremely important. And here’s why.

I’ve met with some superb service providers over the years, who leave lousy clues. If you didn’t already know them, you’d never hire them. Even if people recommended them to you, after checking them out online for a few minutes, you wouldn’t consider contacting them. They just don’t look like serious professionals. And it’s costing them a fortune.

Here’s the thing – – No business can afford to leave money on the table like that. You know you’re a capable professional. You also know you care deeply about your clients and deliver an excellent service.

But unless your clues leave prospective clients feeling confident about contacting you, you’ll lose a fortune. And it’s 100% avoidable.

Now what?

Try looking at your business through the eyes of a stranger. A stranger who eagerly wants to hire a service provider in your industry. Unless you’re fully confident that your clues paint the right picture, start leaving better clues. Make hiring you easy.

Your business, Steve Jobs and Malcolm Gladwell

June 16, 2021 by Jim Connolly

Image: Mika Baumeister

Today, I’d like to share a business development idea with you that’s seldom talked about. However, it’s a key factor in the success of some absolutely remarkable people and businesses.

Malcolm Gladwell was once asked in an interview, if he would reveal his “secret sauce” for writing a best-selling book. After all, he should know! His reply was extremely interesting. Here’s a snippet from what he said:

“The moment you write a book hoping it will be a best seller, your chances of it becoming a best seller go downhill. […] You write the book you would want to read.”

He then went on to make an excellent point about Steve Jobs. He explained that Jobs never commissioned the development of a product or service, based on what he thought would be a smash hit. Instead, Jobs developed the type of products that he himself wanted to own.

Now, let’s unpack that and look for the common thread.

Malcolm Gladwell writes the kind of books, which he would want to read. And interestingly, his books are unlike any other books in his niche. (Until ditto-head authors decide to rip his ideas off). Gladwell’s books are also among the best selling non-fiction books of the last 2 decades. And those 2 factors are directly connected.
Steve Jobs created products he wanted to own. He famously shunned focus groups, deliberately striving to produce the kind of remarkable products he longed for. In doing so, Jobs’ success with Apple led to his company being the most highly valued in the world. Again, those 2 factors are directly connected. Recommended reading – Steve Jobs, marketing and liars!

In short, deliver the level of service that you’d love to receive. Create compelling products that you would love to own. Develop solutions for pressing challenges, which you’d love someone to solve. And make the experience of doing business with you so exceptional, that it would knock you off your feet if you were the customer or client.

Success leaves clues. Our job is to find them and apply them.