July 8, 2008

Success Tips Newsletter

In this issue: sources of power in a downturn

by Eric Albertson

Word count: 887

Time to read: 3 minutes

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A match made in heaven

Imagine matching what you do best and most easily with what your target market and current clients want most. This is the essence of defining an ideal client and using Margin Boost techniques to drive your pricing.

Spray and pray? Or rifle shot?

If you know yourself, and if you know who you want to work with, you can connect with the precision of a marksman using a rifle for target practice. By contrast, believe it or not, many people try, with a shotgun, to shoot at anything that moves. If you want a dinner on the table that you’ll enjoy eating, use the rifle.

My strengths: a real life example

Knowing my strengths (what I can easily deliver) and the things about those strengths that my target market value (their “pain” points, rather than what they need) has been incredibly important to my work life and satisfaction.

According to the test at http://www.strengthsfinder.com/ (see below), my top five strengths are these traits:

1. I’m an activator (I get people into action.)
2. I’m a relator (I tend to take steps to deepen my relationships.)
3. I individualize (I am intrigued by the characteristics of the people I interact with, and I treat them like the unique individuals they are.)
4. I command (I am a leader, and I enjoy helping others get where they want to go.)
5. I am futuristic (I love to, and am good at, looking beyond the horizon.)

I first discovered this set of strengths and more, through the http://www.pinnaclegroupusa.com/index.html survey, and it helped me get clear on a number of important career direction adjustments. They were further confirmed by the test at www.strengthsfinder.com.

My consulting clients value me (pay me) for my ability to:

1. Help them see a new future in which they can deliver what they do best, for the greatest value, to their ideal clients (command and futuristic).
2. They want to rely on me to guide them and their organizations to new futures, and therefore they want a trusting relationship with me (relator and Individualize).
3. They want me to get them into action and keep them in action toward their new futures, and to hold them accountable for the things they commit to doing along that path (activator).

Here is the win-win

My ideal clients love my strengths and get a great deal of value for their businesses by using those strengths and enjoying dramatic jumps in profit. My strengths come naturally to me and are fun for me to further develop and refine. This is a real win-win.

Gradual transition

The idea is to gradually change from working with anyone who will say yes (the shotgun approach; also known as “spray-n-pray”), to targeting the ideal client (the rifle approach). Trying to make this transition overnight could lead to economic suicide. But a gradual transition over six to 12 months, can bring great joy, confidence, satisfaction, and a dramatic improvement in profits.

I am still in the process

Like you, I still do some shotgun work. But, every day, I move a little closer to the rifle approach. Here’s how: At every step with prospects, I learn a little more about them. I then take the knowledge I’ve gained through this learning process and incorporate it into my elevator speeches. As I do this, the speeches more accurately describe my ideal clients and what I do for them. It becomes clearer to them, and they are more likely to supply me with information that’s valuable to me. If, at the end of this process they say, “Tell me more,” I’m pretty sure I’m talking to an ideal client. Then, we can make real progress together.

Don’t know how you’ll get there?

Many people today struggle away with a shotgun to get enough sales. The funny thing is that beginning to define and make the transition to your ideal client normally helps you make more sales, more easily. McDonald’s is clear that they sell burgers, while Ruths Chris is clear that they sell high-end steak. Neither would fare well trying to sell it all. Neither will you.

Makes sense, but how do I know?

The problem is often simply knowing what one’s strengths are. My mother, my spouse, my friends, and my old school teachers certainly had their perspectives, but did they really know?

Opinions of others are often not enough

I wish I could rely only on the opinions of those I love and like, but I sought confirmation from at least three other sources. Here is my take on a good, better, and best example of the options for learning more about yourself.

Disclaimer on the options below: I have no financial interest in the “good” or “best” options. I will receive a small commission from www.amazon.com, but it will not affect your cost.

Best option

It’s simple to use, it’s very powerful. It will give you a written report and a personal phone interpretation, plus the opportunity for questions and answers. 

http://www.pinnaclegroupusa.com/index.html

For an independent perspective go here:
http://www.allbusiness.com/construction/construction-buildings-residential-building/223143-1.html

To your success,

PS: Give the map below a good look. I am building a “New Biz Roadmap” home study program and weekly coaching service. The basic idea is that you get the economical “New Biz Roadmap” and you can take part in the weekly coaching sessions. You progress at your own pace, but the weekly group coaching sessions keep you on track, answer your questions, provide motivation, and give you the opportunity to share with others who may be very similar to you.

If you want to be notified when this home study program is available, you can get on the notification list here:

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SucceedingInBusiness.com
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