5 Steps to Building Your Business
- Distinguish your targets of opportunity – who is your target market? Many times, people in my Coaching & Mentoring Program will say, “Everyone is.” You need to be a sniper using a premium rifle, not a farmer out blasting with shotgun pellets. That doesn’t mean you will sacrifice other opportunities in the hunt, but your attention must be focused specifically on the prize trophy. All women can wear dresses, but there is a defined segment of the market that will buy Alannah Hill.
- Prepare for success in acquiring new business – always engage your clients and customers as peers. To do this, you must necessarily be knowledgeable, have a strong command of the language, excellent listening skills, and a sense of humour. My tailor speaks intelligently to me about business and sport, whilst I have overheard him conversing with another customer about the future of health services in this country.
- Build relationships – you are in the ‘people’ business. Nobody sells to monoliths. You do business with the people in those organisations. It’s not so much what you know, but who you know, and how well they trust, like and respect you, and the value you deliver.
- Realise you are going to get rejected – if you hear an objection you haven’t heard before then you probably haven’t been listening well enough. “It’s not in the budget.” “We don’t have time right now.” “I have to ask …” Familiar? Of course. You must know these stalling tactics are going to come. It is your obligation to be prepared with ways of overcoming and moving forward past, beyond, over, or under these smokescreens. What three objections do you have most difficulty handling? Write them out, design you best responses, and practice them.
- Gain market share – go for solutions rather than diagnosis and definitely instead of post-mortems. I have never asked my doctor to explain why and how he came up with his diagnosis and the chemical formula for the antibiotic with which he is about to inject me. I just want to get better. Significant buyers want outcomes and results; not a medical degree.
Building your business is your prime objective. Assuming you want to be more than mediocre. It’s not difficult. There’s a process. Get good at the process and your business will profit from your efforts.