Hi Champ!

The last 2 posts covered the first four of the killer mistakes you can make that will not only make you lose a big client, but possibly your entire company. Today we’re going to talk about the fifth killer mistake: Up Cash Creek Without a Paddle.

Even when business is good there’s still a chance of running out of cash flow. You have to always be prepared for a slow in sales or a surge in expenses. One of the keys to balancing your cash flow is to get your clients to pay on time. This can seem like a nightmare, but is absolutely essential to a successful business.

Here are some tips to speed up the payment process:

• Always send invoices on time and adjust your records for potential audits.
• Learn how the client processes payments on their side and find out precisely where to send invoices.
• Find out who’s in charge of processing orders and payment, so you know who to contact if needed.
• Have a follow-up procedure in place, just in case.
• As a last resort, call...

5 Killer Mistakes - Part 2

In the last post we covered the first two of the 5 biggest mistakes you can make in dealing with big clients. Today we’ll cover the third and fourth ones:

#3 Taking on More Than You Can Handle.

When you take on too much, your business can’t keep up and therefore you can easily lose control of everything and find yourself barely functioning. You want your business to be successful, no doubt, but you need to have a plan for how you will handle the growth. Your clients expect great customer service and highly quality products/services, they don’t know or care about your behind the scenes operations to get those things done.

• Look for these signs that you are taking on more than you can handle:
• Clients’ needs aren’t being met.
• Employee morale is low, clients are upset and you’re in a panic.
• You have to react in emergency mode to save accounts.
• Your current clients are suffering from trying to keep up with new business.
• ...

There are 5 big mistakes you can do that will kill a deal with a big fish. They are:

1. Not meeting the client’s expectations
2. Mishandling a client crisis
3. Taking on more than you can handle
4. Putting all your eggs in one basket
5. Up cash creek without a paddle

Any one or combination of these can not only kill the partnership, but have the ability to take down your company as well. We’re going to take a bit of time to talk about each one of these, in this lesson we’ll cover the first two.

Not Meeting Client’s Expectations

It’s essential you give your client’s exactly what you promised during the negotiation portion of your relationship. If an event does happen where there is no way to meet the client’s expectations, not only do you have to find a way to fix the situation, but you also have to find out where it all went wrong.

A couple of things could have contributed to this problem:

1. Bad salesmanship. This could mean the salesperson was trying too...

Hi Champ!

In the last post we talked about negotiating with your big fish and how to nurture and build on the relationships you are creating. Today we’ll talk about the power your advocate or internal champion has and how to utilize that for your benefit.

One of the most important aspects of this is to keep your cheerleader cheering. This refers to the ally you created in the company and who needs to stay loyal to you for you to continue a profitable partnership. You can keep your champion going by offering or doing a number of things to show appreciation. Some of these things are:

• Share the limelight.
• Connect them their company with new products and services.
• Emotionally connect them to your company- You both win together.
• Know when to go the extra mile to help and when to leave them alone.
• Extend your services to help their extended family.
• Stay on the front lines and help to build team members up.

Now that you have some ideas of how to build solid relationships,...

Hi Champ!

There are a few things you need to do and consider to prepare for a face to face meeting:

• Set clear goals for what you want to accomplish in the meeting.
• Anticipate potential concerns from the client.
• Check to make sure you are completely prepared by researching the prospect personally and professionally on social media and news sources.
• Listen more than you talk. Prepare your questions beforehand.
• Bring support staff with you.
• Use and respect the clients’ format.
• Always follow through.
• Ask for what you need and seal the deal.
• Simplify your prospects life.
• Find ways to boost your credibility.
• Build and nurture relationships.
• Learn from “no” if you get one. Find out what didn’t work so you know how to change it for the next time.

These are all important things to do both before and during the sales process. With confidence behind your company and product you will catch that big fish.  As you move forward from first meetings to more in...

Hi Champ!

In the last post we talked about making first contact with your prospective big fish and how to make a positive first impression. Today we’re going to talk about a key component outlined in our book Sell Like A Champ that will help you land the big fish.  Knowing your preferred behavior style and having high levels of EQ will help you understand the personality of your prospective big fish.  Higher levels of EQ help you understand if and when modifications are needed to build trust and rapport quickly.  Or, if you are not the right fit, match the right salesperson to the big fish.

You need to:

1. Know Yourself (You must know your own preferred communication style)
2. Profile your salespeople’s personalities and behavioral styles.
3. Match the right salesperson or modify your communication and behavioral style to your target fish.
4. Know where you are in the sales process.

Where are YOU and the Prospect in the Sales Process?

To be a sales...

Hi Champ!

In the last post we talked about how to learn about your big fish and prepare for the first contact you’ll make with them. This first contact is essential to your success. You need to instill confidence in them. They need to know you can fulfill exactly what you are offering on time, at a good price and at the quality you promise.

Today we’ll actually go through an approach and how to make that perfect first impression. Before you put together your approach plan, you need to choose with big fish you’re going after. Take a look at your notes and the research you’ve done about prospective fish. Then decide which one will bring the greatest return with the highest probability of success to start out with.

There are a series of things to go through in choosing which fish to start with. They are:

• Your Value Position or Brand Promise
• Compile Your Ideal Target List
• Select the Best Target

Position Your Business

You need to position your...

Hi Champ!

In the last post we talked about how to bring the big-company mindset into your business and your team. This will help you overcome the mental obstacles that will keep you from being successful. Now, that you’ve learned how to overcome that, we’re going to talk about who your fish is. It’s important to know about the fish you are looking for before you put a plan together. We’re also going to take a moment to talk about the potential “red tape” you may encounter along the way.

The most important thing to know about your fish is their purchasing habits and procedures. There are four main things you need to work on in order to be successful:

1. Responsibilities: You need to know who has influence over purchasing, who does the actual buying and who can kill a deal if they want.
2. Get on Their List: You need to know how to get on their list of people to buy from. Your name needs to not only be on the list, but at the top of it and in as many...

Hi Champ!

In the last post we started our series on catching big clients, or “fish”, that will sustain your business over the long run. Today we’re going to take that a step further by talking about how to understand and think like a big fish company and how that can help you plan your approach and find success.

Before you can start the process of landing big clients, you have to make sure your entire team is onboard with your approach and vision. There are six keys to finding big client success. They are:

1. Confidence, first impressions matter. You must remember you have one shot to land a big client. If you make a mistake, they aren’t going to consider you again. Never give them a reason to doubt your abilities.  Do not over promise and under deliver.
2. Customer Focus. Your prospects must always feel like they are your first priority. Returns calls and emails immediately and find solutions to their problems or questions as quickly as possible.
3. Flexible:...

Hi Champ!

There are a number of factors to take into consideration when prepping yourself and your company to approach the largest clients you’ll ever work with.

Today we’re going to start with a brief look at the three paths every business faces and show you which one is the path to success. Then we’ll talk about the mindset it takes to attract the big fish.

There are three major paths a business can take:

• Safe Speed
• Shooting Star
• Springboard

Safe Speed

Most business owners end up working themselves into the ground without much reward or success. This is what happens when you fool yourself into thinking you will find quick success if you keep doing what you are doing. You may also find yourself following this path when you are afraid of change.  You have lots of minnows or one strong client that dominates your time causing you to do more for less so you don’t lose them.

Shooting Star

This describes a business that shoots to the top so fast you...