While working as an Electrical Project Manager on government projects, we were required to compose a three ring binder of manufacture specification product sheets, for most all of the components to be used on that project. We typically needed a 3” binder. The purpose of the “submittals” was to demonstrate our knowledge and expertise to properly complete the construction project. Our submittals were then verified by the project Electrical Design Engineer. His job was to make sure we complied with all of the project specifications. If our submittals were not acceptable, our contract could be voided and another electrical contractor selected.

A friend of mine worked in the home improvement industry, an industry known for scam artists who take a deposit and disappear. To prove his credibility, he composed a two-inch binder full of thank you letters and testimonials about his company. He would plop that beast down on the kitchen table for his perspective customers to read, while he was taking measurements. He told me that few people read more then two letters. It was such an overwhelming statement of his ability, that it allowed his close rate to triple even though he was often not the lowest bidder.

What are you doing to convince your customers that you are more then qualified to meet their needs?

Ken Bear Cole

A Second Look Business Consulting LLC

I believe things are becoming more productive because businesses have decided to make the best of the current market. Some have closed their doors, but others are growing because of the reduced competition. For those who have survived, it is as if, there are more customers. The overall market of consumers may have reduced, but so have the suppliers. Now is a good time to re-evaluate your marketing and increase customer service, because there is new business to be had if you are willing to go after it.

Ken Bear Cole

A Second Look Business Consulting LLC

Motivation is critical in determining a marketing plan. Are you just interested in a sale, or do you actually care about your customer. If your eye is on the money you will make, I classify you as a Taker. Your goal is to separate your customer from the money it takes to purchase your product or services. Your focus is predominately on the $.

A Giver is much more interested in fulfilling the customer’s needs. Givers understand that a customer-focused relationship will benefit them more in the long run. I always offer a no-charge consultation to any potential client. Sometimes I recommend that they not hire me at that time. They have other pressing needs and decisions to make before considering paying for my services. Some need legal counsel. Others need financing. These are areas that I am not qualified to provide good advise, so I try to refer them to other professionals. Many return to me later as clients because I showed them that I am interested in their success. I have earned their trust and respect.

Become a Giver and your customers will love you for it!

Ken Bear Cole

A Second Look Business Consulting LLC

Desperate or uneducated salespeople are like hungry lions. They view you, the customer, the same way a lion sees an antelope. They will chase you until you are exhausted and give up, or until you out run them by sending your calls to voicemail, the greatest diversionary invention known to man.

You are not motivated to give them your time, because they have not indicated they care about you. They have not done their research. They have no idea what you need. They just know they need to sell X number of widgets. They don’t care if you need them. They need to make a sale.

While working as a project manager, I had suppliers who took us to lunch, to pro sporting events and some even paid for vacations. Ah the good old days. Though I enjoyed the perks, I bought from companies who had reasonable pricing and good service. I always tried to give my business to suppliers who helped me solve problems. Why, because they cared about me. They wanted to see me become successful. Those companies did not get all of my business. At times their price was too high for that project or they did not have the right equipment, but they got the lion share of my business.

I have tried to stop doing business with companies who don’t care about me. Too often their low price and quality have cost me money, time and embarrassment. If you want loyal customers, learn how to become their hero. Don’t sell them. Instead meet their needs and supply them with the best customer service they have ever known. They will love you for it!

Ken Bear Cole

A Second Look Business Consulting LLC

I had a college professor who had a problem when he took a certain class. He turned in papers and received a low grade. He knew that a Grad Student was probably reading and grading the papers, so he needed to get his paper noticed by the professor. He knew that his instructor was born in and was raised France. So he decided to enlist the services of another student who translated his next paper into French. He was hoping that the Grad Student could not read French, so it would need to be read by the class professor. His strategy worked! He received a much higher grade because he learned how to bypass the Gatekeeper.

A valuable customer or job is worth a little extra research and effort. We are fortunate to have the power of cyberspace to gather much needed data for forming a plan.

A certain salesperson, I will call Tom, was out of work and funds were drying up fast. He had sent out hundreds of resumes with little response. So he decided to circumvent the system. Apparently many HR departments are using software programs, which search resumes for certain key words and phrases and delete those not fitting the parameters. That still left a high number of competitors for a single job opening.

Tom needed to thin the crowd if he wanted to get back to work. So he enlisted a friend and produced a three-minuet video, which included a power point presentation. They need to hire a salesman, so he presented himself as a product to the company. All the other applicants were represented by non-visual data on a resume. Tom became life and found a job.

So what are you doing to become distinctive and unique?

Ken Bear Cole

A Second Look Business Consulting LLC

• A Clear Definition Of What You Offer.

Are you selling a product like tires or vitamins or is it something else?

A tire store has a wide variety of products because they are filling various customer needs. Some are looking to put an inexpensive set of tire on a car they are selling. Other customers are interested in durability, performance or even a fashion statement. It is easy to miss a sale without knowing your customer’s motivation.

The Dietary Supplement market is flooded with products, which claim to cause you to live a longer healthy life. So what is the motivation behind the message? It is a fear of disease, sickness and death. It is difficult to sell nutritional products to people who are not concerned about their health, but I frequently see people trying to convince over weight people with a pastry hanging out of their mouth to change. And upon rejection these skinny people shake their heads in discuss. Stop trying to sell to unmotivated people! It’s too difficult. Find a niche of customers who want to buy now.

• An Understanding Of You Customer’s Habits, Interests, Fears And Needs.

You will only discover this information by research. What publications do they tend to read? Do they play golf or frequently rent comedies at the video store?

Here in Oregon, we sometimes see Salmon swimming up a paved street during a flood, but that is not the best place to fish. I also see Information Technology salespeople attending a local Chamber of Commerce meeting, which are filled with businesses, without employees. They are wasting their time on people who do not have a need for their services. At least you might get some free press if you were trying to catch a salmon on a paved road.

Learning your customer’s habits will allow them to relate to you, because people want to buy from someone they can relate to and trust.

• Properly Pricing Your Products And Services.

A common mistake made by new business owners is charging too little for your services. Anyone can lower the price to get a sale, but can you make a profit? Too often companies, who compete on price alone, are competing to see who can go out of business first. There needs to be a genuine purpose to work hard and loose money. The promise of future business is not enough to give away your services. Large companies have been using this trick for years. If your customer is interested in doing business with you in the future, they will be willing to make sure you make a profit. Otherwise, you may be out of business when they need you.

On the other hand you cannot charge a high price for something unless it has unique value. Only a fool would pay $100,000 for an old pair of shoes, that is unless, they were worn by Dorothy in The Wizard Of Oz. The uniqueness makes them valuable.

If you are going to charge a premium price, you need to be prepared for fewer sales and longer lead times between those sales. This will require substantial cash reserves. It will also require adequate proof of your value.

I met a cabinetmaker that only worked in a very wealthy portion of Southern California. He typically charged four to five times more for his cabinetwork then other tradesmen, but he was perceived as the best. There was always a brass plate installed somewhere on his work, which included his personal signature. It was like a stamp of authenticity. His customers were paying for the status of having his cabinets in their home. You typically needed to wait six months to two years for his services. One customer sent him overseas to hand select unique wood for their cabinets. That is branding!

Ken Bear Cole

A Second Look Business Consulting LLC

Retail business will focus on convenient locations to bring in customers. The same company may have 3-5 stores with in a five-mile radius. A service company may only have one location servicing hundreds of customers, over 40 miles.

Since we all have competitors, what causes you to stand out? If you are relying on low pricing, you need to make it up in volume, or you will win the race for going out of business first.

Do you rely on superior quality, charging a premium price to fewer customers? That strategy can even work in a down economy, if you have built an outstanding reputation and have few competitors. But even the wealthy may stop buying to avoid flaunting during a tight economy. When I had my Electrical service company, many of my customers were multi-millionaires. Price was not an issue. They were paying for my dependability, quality of work and courtesy. But during a recession, some of my customers stopped remodeling. I even had a customer that required the materials delivered at night and my truck was parked down the street. Old money has rules of propriety, which are strictly followed.

If you cannot describe your customer in detail, you need to refine your research. Because if you know who will purchase your goods and services at premium rates you will not need to deal with customers who take up so much of your time and produce little profit.

Many times the huge customer is too demanding and pays too slow for most of us. If you decide to deal with these giants, you will need to raise your prices to cover all of the headaches. Many businesses have found that a small customer is actually more profitable.

So, keep reviewing your marketing plan until your find your niche

Ken bear Cole

A Second Look Business Consulting LLC

Chasing pennies is a game that I sometimes play with my Granddaughter. We will be in a safe place with a concrete surface. I will toss a penny and she will run after it and return with a big smile. She is proud of herself for finding the penny. She gets excited when I shake the pennies in my hand. She is ready to run after the jingling, almost worthless coins. Are you doing the same?

If you find that you are, STOP! Don’t spend any more money in advertising, printing, website or anything else. You must first decide who will pay a premium price for your products or services. An old saying goes, “It’s not what you make, it is only what you keep that counts.” Ask yourself a few questions:

• Why would anyone want to purchase my products or services?

• What makes me different from my competition?

• Where do my profitable customers hang out?  You need to get to know them.

• What would cause them to want to know me?

• Is my marketing plan designed to entice these customers?

Answer these questions and then make appropriate changes to your business. Then be prepared, you might start seeing profits.

Ken Bear Cole

A Second Look Business Consulting LLC