The American Consultant's League Get Out There And Make Some Contacts By Bob Bly We have talked about how much faster you will accomplish your career goals if you put yourself out in the marketplace and meet prospective partners/employers/protégés/vendors. “It is never too late to be what you might have been.” Take Control of Your Life Today Excerpt from ETR Goal Setting Program by Michael Masterson Less than 10 (8 points) 11 to 20 (7 points) 21 to 30 (6 points) 31 to 40 (5 points) 41 to 50 (4 points) 51 to 60 (3 points) 61 to 70 (2 points) 71 to 80 (1 point) More than 80 (0 points) Up until now, have you used a daily task list? No (2 points) If you do use a daily task list, what percentage of tasks that you assign yourself do you complete? Less than 20% (4 points) 51% to 75% (2 points) 76% to 90% (1 point) More than 90% (0 points) Does your daily task list tie into a weekly project list? No (2 points) Does your weekly project list tie into a monthly list of objectives? No (2 points) Yes (0 points) Does your monthly list of objectives tie into a yearly goal and project agenda? No (2 points) Yes (0 points) Is your yearly agenda tied into four primary life goals? No (2 points) Yes (0 points) How many unscheduled interruptions take place in your typical day? One or two (0 points) Three to five (1 point) Six to 10 (2 points) More than 10 (3 points) How would you define your normal work effort? Highly focused (0 points) Moderately focused (1 point) Mildly distracted (2 points) Wildly distracted (3 points) During working hours, do you do any of the following? Listen to talk radio Make personal phone calls Take personal phone calls Surf the internet Read newspapers, magazines or books Play computer or other games Chat with other employees Shop online or read catalogs Daydream Attend to personal business in any other way Add up your point total and compare it to the assessment below: You will be successful. You may also be happy. You already work hard to be successful. You may have to work harder to be happy. *21-30: You are showing up. Was it Woody Allen who said, “Showing up is 90% of the game?” Well, he didn’t mean the kind of showing up you are doing. You think you are a good worker, but you are not. Your chances of success are probably less than 10%. *More than 30: When it comes to work, you are a stone-cold loser. If you think you are a serious worker, you are delusional. Get real. Your chances of achieving your dreams—and for you they are mostly daydreams—are best measured in micrometers. Your best bet for success: Play the lottery. What Makes Business-to-Business Marketing Different than Consumer? After a quarter of a century in business-to-business marketing, I think I’ve finally figured out an accurate, authoritative answer to the question, “What’s the difference between business-to-business marketing and business-to-consumer marketing?” The answer, in my opinion, is this: The business buyer needs your product – the actual, physical product, not just its benefits -- and wants to spend his money on it. Yes, the benefits are critical. But he needs more than just the benefits or advantages; he also needs the actual product – a fax machine, personal computer, domain name, credit line, pollution control system – itself. Let’s compare two different products, a business product and a consumer product. The consumer product is a monthly financial newsletter that tells individual investors what stocks to buy. The business product is a valve used in the chemical process industry. In the case of the valve, your customer, an engineer – let’s call him Pete -- is not merely looking for a set of benefits (e.g., the ability to control fluid flow). Pete is looking specifically for a valve. His processing plant uses many valves, and when one has failed or the plant is being expanded, he needs another valve. Nothing else will do. Pete wants to buy a valve – the physical product – and he knows what he wants. He most likely does not have to be sold on the idea of using valves; he already uses them. (Yes, there may be exceptions, such as when another piece of equipment could be used in place of a valve.) Pete does have to be sold on whether to buy your valve vs. another brand or model. Although Pete may have a budget that constrains his selection of valve manufacturer and model, he is not opposed to the idea of spending money on valves. He does not resist it. As a plant engineer, spending money on valves is actually part of Pete’s job description: to not buy valves would be paramount to a dereliction of duty – the duty to keep the plant operating reliably and efficiently. So, Pete wants to buy, and he wants to spend his company’s money to acquire this product. Now let’s take Pete’s father, Tom, also an engineer but now retired. Tom spends a good part of his retirement, as do many white-collar men who have been successful, managing his stock portfolio and other investments. (I am not being sexist by saying “men”; the majority of subscribers to investment newsletters are men over 60 years old.) Tom has several things he wants. One is to make money with his stocks. Another is not to lose the gains he makes. He desires profit and safety. Tom does not need a stock market newsletter; thousands of Americans trade stocks every day having never subscribed to a financial advisory. As Bill Bonner of Agora Publishing is fond of saying, “Nobody wakes up, shakes the other person sleeping in the bed, and says, ‘Honey, we need to get more newsletters today!’” What Tom is after is the benefit of the product – increased stock market profits with greater safety. He does not need the product. But more than that, he does not want the product itself – 8 to 12 pages of paper with ink on them -- either. The fact that the product is a newsletter may very well be a negative to Tom. He may feel he already has too much information to read, and no time for yet another publication. He wants the benefit, but not the physical product itself. In fact, there are many other information providers offering financial advice in print and online at much lower cost than your newsletter, and a good number of them don’t charge at all. If Tom believed that free information would help him meet his investment objectives as well as your stock market newsletter, he’d take that free information and happily avoid ordering your newsletter. But Tom is suspicious of free advice; he believes “you get what you pay for.” He also believes that many of the sources providing him with free investment advice – stockbrokers, for example – are not objective and have self-serving motivations. Because you charge for your advice and are supposedly unbiased (your consumer newsletter carries no advertising), Tom is willing to pay $100 to receive your publication – even though he would prefer not to spend the money or have another newsletter to read. Amazing, isn’t it? About the Author: Robert W. Bly is a freelance copywriter and the author of more than 50 books including The Complete Idiot’s Guide to Direct Marketing (Alpha). His e-mail address is rwbly@bly.com and his Web site address is www.bly.com. Get your business up & running and successful – in the least amount of time By Deeba Jafri Many entrepreneurs, including consultants, have a tendency to procrastinate or to over-organize their business launch. The following five steps will help you avoid either situation and will get your business up and running sooner and more successfully: 1. Don't spend too much time planning. Based on interviews with the founders of 100 businesses on Inc. magazine's list of the "fastest-growing" companies, two-thirds of those who succeeded did little or no planning beforehand. Probably 90 percent of successful new businesses end up following practices that are different than anticipated. That's why it doesn't pay to spend too much time and money planning. Do a reasonable amount of noodling. Figure out the big strokes and give yourself a bailout option. Then go for it. He who can adapt wins. The vast majority of businesses that succeed do so on a limited budget. People involved in businesses that have limited funds must think harder, work harder, and (most importantly) sell harder. Their primary initial effort is to bring in the cash. And that's how it should be. Ironically, limited capital usually means a quicker and stronger cash flow. The most common reason for new product/project failures is wasting time getting ready. Between making overlong and expensive business plans, endlessly tinkering with the product, fooling around with focus groups, and second-guessing yourself, it's very easy to let a good product/project lose its steam. Boot-strappers don't mind starting with a copycat idea targeted to a small market. Imitation saves the cost of market research -- and the start-up company entering a small market is unlikely to face competition from large, established companies. Contrary to what some business books tell you; successful entrepreneurs admit that they take the fastest route to cash when launching a new venture. They do so because they don't have a choice. After the cash starts coming in, they have the time and funds to improve the product, enhance customer service, and refine operations. When launching a new business or product, figure out how you can get to “break even” fastest. Successful entrepreneurs don't hire experts to run their businesses. They figure it out for themselves. When it comes to making your new product/project work, rely on nobody but yourself to make sure it gets done right. It may be stressful and time-consuming to do a lot of extra work yourself, but it will pay in the long run. You will understand the project in an intimate, extremely valuable way. About the Author: Deeba Jafri, president of DJ Direct Response, is a consultant specializing in direct mail marketing, both on a strategic as well as project management level. Early in her career, Deeba was a marketer for Agora Inc. As a consultant, you sell your time and your expertise. Therefore, the more efficiently you use your time, the more profitable you will be. Successful consultants create systems, procedures, and office practices that eliminate time wasters and maximize their productivity. This chapter shows you what those systems are and how to implement them in your office. Setting Your Daily Schedule Productive consultants have schedules and stick with them. Yet, more than 50 percent of consultants don't schedule their daily activities. It's not enough to know the projects you're working on. You should break your day into segments- I suggest using hour increments, although quarter and half days can also work- and write down on a piece of paper the project you will work on during each of those segments. Do this every day, at the beginning of your work day (or if you prefer, create the following day's schedule in the evening before you stop work for the night). Post your hour-by-hour schedule for the day on a wall near your desk with a piece of tape. Or pin it to a nearby bulletin board. Although I may work on a particular consulting project for more than one hour a day, these hours are not necessarily scheduled consecutively. It's up to you. As you go through the day, consult your schedule to keep on track. If priorities change, you can change the schedule, but do this in writing-revise the schedule, print the new version, and post the new one. It's okay to redo the schedule as long as you don't miss deadlines. Some days I redo the daily schedule two or three times, depending on deadlines and inspiration. Why not? As long as you are organized, keep track of deadlines, and allow enough time to finish each job, you will increase your productivity by working on things you feel in the mood to work on. Determining Priorities Can you always work on what you want, right when you want? No. Sometimes, a pressing deadline or an insistent client can mean putting aside a more pleasurable task for something more formidable- even if you don't feel like doing it right now. On the wall of my office near my desk, I have posted a list, which I update weekly. It's called "Rules of the Office," and it reminds me what I have to do to be successful in my business. Rule 1 is "First things first." This means you must set priorities and meet deadlines. For instance, if I am burning to work on a book but have a report due the next morning, I write the report first, get it done, and fax or e-mail it to the client. Then I reward myself with a morning spent on the book. If I did the book first, I'd risk not leaving myself enough time to get my report written by the deadline. The Three Types of To-Do Lists Every Consultant Should Keep The key component of my personal productivity system is a series of lists I keep on the computer. In fact, I have so many lists, that I have a file called "LISTS" to keep track of them. Every morning, I come into the office and turn on my computer. After checking my various online services (Internet, CompuServe, America Online, and AT&T Mail) for e-mail, I open the LISTS file. It tells me which lists I must read and review to start my day. The most important lists on the "LISTS" list are my to-do lists. I keep several, but the three most critical are my daily to-do list, projects to-do list, and long-term to-do list. 1. Daily to-do list. Each day I type on my PC, print out, and post a list of the items I have to do that day. From this list, I create my hour-by-hour schedule. This list is revised daily. I enjoy work and like to work long hours, so I take on many projects that interest me. However, I never take on more than I can handle, so I can continue to meet all deadlines. 2. Projects to-do list. On a separate computer file, I keep a list of all of my projects currently under contract, along with the deadline for each. I review this list several times a week, using it to make sure the daily to-do list covers all essential items that have to be done right away. 3. Long-term to-do list. This is a list of projects I want to do at some point, but are not now under contract and therefore do not have any assigned deadlines. I check this list about once a week, and usually put in a few hours each week on a few of the projects from this list that interest me most. This simple system works. Most of the techniques throughout this book are simple, yet powerful; so don't be put off by their brevity or ease of implementation. I agree with Texaco CEO Peter Bijur, who said, "As soon as you start to introduce complexity, whether it's into an organization or a set of responsibilities, the more difficult it is to operate." I also agree with Hair Club for Men CEO Sy Sperling: "Simple solutions are the best solutions." Like what you see? Have suggestions for topics that you would like Board members to address? Send us your comments and suggestions to: American Consultants League, c/o Early to Rise www.earlytorise.com or email us at: support@earlytorise.com. Be sure to mention that you are a subscriber to ACL. American Consultants League Consulting Tips Newsletter Last month, I submitted a proposal to a prospect to revamp his web site (yes, I do that). He seemed very excited about the project, but when I tried to reach him to get an answer, all I got was silence. He "should" have responded too, but he hasn't.
Consulting Tips Newsletter
Ideas, strategies, and tips, far growing your consulting business
Vol. 1, No. 5 July, 2004
One of the best ways to get out there is to attend trade shows and seminars. The problem is that the formal aspects of these programs - the speeches and the product presentations - are often superfluous/redundant/unnecessary. But the networking that surrounds them can be invaluable.
I am a reluctant show-goer. I’d much rather hide in my office and communicate by e-mail. But every time I force myself to attend a trade show, I am rewarded. A trip several years ago to a health show resulted in a multimillion-dollar deal with a doctor/publisher I literally bumped into on the exhibition floor. A cocktail party in New Orleans led to a relationship that completely revolutionized the way I thought about a certain type of business.
If you have ever attended an industry function, you know what I mean. Unless you wear a paper bag over your head, you can’t help but make some useful contacts and get some helpful ideas.
So do something right now.
Look at a trade publication for your industry. Check out the calendar of upcoming events. Pick one that offers you the best chance to meet as many people as possible. Book yourself an airline ticket.
George Eliot
George Eliot put it so simply, but in reality, most people find it’s difficult if not nearly impossible to change the course of their lives. But the truth is, no matter where you are in your career or personal life, it’s never too late to start doing the things you were meant to do—enacting the ideas and realizing the dreams that you’ve pushed aside for years.
“Sure,” you might be saying. “I haven’t achieved those things because I haven’t had the time. If only I had more time I could sign up for that art class, I could spend more days with my family and friends, I could take on extra projects and make better money, and I could travel to all of those places I’ve always dreamed of going.”
Yes, realizing your dreams does take time, but not any more time than you already have in your day. By following a simple time management strategy, you can master every minute and focus on becoming the person you’ve always wanted to be.
It all comes down to productivity. I’m not talking about simply working harder. A hardworking person isn’t necessarily productive. You must work harder and work smarter to achieve the level of productivity you need to succeed. The good news, it’s easier than you ever thought possible.
Let’s start by measuring your current level of productivity.
How many hours a week do you work on any one of your lifetime goals?
Yes (0 points)
21% to 50% (3 points)
Yes (0 points)
(Give yourself 1 point for each one that applies.)
*Zero: You are a Work Maniac.
You will definitely be successful and almost certainly happy.
*1-5: You are a Very Serious Worker.
*6-10: You want to succeed but haven’t locked yourself into a serious working pattern. You push yourself to get the job done and try to please your boss—but deep down inside you know that you are not seriously committed. Your chances of success are about 50/50.
*11-20: You are willing to work but you are not dedicated.
You read about goal setting and successful habits, and you tell yourself you aregoing to get going “tomorrow.” But your performance is lackluster. Your chances of success are less than 50%.
In upcoming issues, I’ll tell you how you can turn this information into fuel that will enable you to achieve your life’s goals.
About the Author: Michael Masterson, publisher of the daily business success e-zine Early to Rise (which you get FREE with your ACL membership), is one of the wealthiest and most successful consultants in the world. He has helped over a dozen businesses grow to annual sales of $10 million and several to the $100 million level.
The consumer wants the benefits your product delivers, but does not want the product itself. Nor does he want to part with his money to obtain it.
Unlike Pete, who is mandated to spend his company’s money on valves as part of his job, Tom would rather not part with his money to get the benefits (greater portfolio returns) he seeks -- if he can help it.
2. Don't spend too much money.
3. Get operational fast.
4. Go for the quick cash first.
5. Forget about the crack team; you are it.
CONSULTING RESOURCE OF THE MONTH:
Today we are busier than ever. According to a recent article in Reader's Digest, the average workweek increased from 41 to 50 hours.
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Editor: Denise Ford
ACL Board Members: Mark Amtower, Ilise Benun, Bob Bly, Tony Narinesingh, Ruth Stevens, Valerie Young, Deeba Jafri, Michael Masterson
I was dying to jump to a conclusion. I started to think, "It must have been too expensive for him," or "he chose someone else." But then I stopped myself, because I was basically making up stories in my head, stories that have more to do with my own "issues" than with the project at hand.