Tuesday, 24 September 2013
How To Turn Down A Consulting Assignment - Advice From the Trenches
If you're new in the business of consulting, you probably need the income, so why in the world would you consider turning down business?
There are, of course, a number of legitimate reasons for not engaging with a particular business. The most common: having moral or ethical questions with what the business is selling. Second: the owner's personality or obvious biases. Third: you're not confident you'll get paid.
How do you "gracefully" decline?
Saying "No" to a Prospective Client is Tricky.
Whatever the reason, how you bow out can be a delicate matter. I was referred once to a potential client who (in my mind) turned out to be a megalomaniac. Even though he seemed to have a legitimate business that could be helped by our direct marketing expertise, neither I nor my partner felt we could work with him.
He was so over the top that, after two tactful attempts failed, I had to resort to an honest answer, "I don't feel we can work with you!"
Being Direct Isn't Always The Best Answer.
Wow, was that ever a huge mistake. He then went into a rage and actually refused to return the portfolio of samples we had loaned him. (I ultimately got it back by threatening legal action!) This experience forced me to re-think about how to say "no" to prospective clients so that we could part ways on a civilized if not a friendly basis.
If you find yourself in an uncomfortable position with a prospective client, here are some ways you might dodge a potential bullet:
- "Unfortunately, my prior commitments preclude taking this kind of assignment on at this time."
- "I find this type of assignment very interesting, but I would be learning on your nickel. It might be more cost-effective for you to work with someone who has more direct experience. Let me check with a couple of colleagues and get back to you."
- "I have a couple of proposals out right now that are going to complicate my schedule and could represent a conflict in my time commitments. I wouldn't want to jeopardize your project. Let me check with a couple of colleagues to see if I can't find an appropriate referral for you."
While these may not be completely truthful, chances are your prospect isn't fully comfortable either and will be grateful that you have given him an easy way out. The point here is that potential clients - especially small business owners - often don't take criticism or rejection well. Avoid direct rejections wherever possible.
Turning Down Business Can Be a Good Marketing Strategy.
Since one of your marketing activities is maintaining relationships with other consultants, referring business to them wherever possible will likely enhance those relationships. Just be sure to be candid about why you're declining the opportunity.
Looking for more from the trenches of consulting? Joseph A. Krueger of The Marketing Machine® shares regular stories and tips - mostly marketing related -- for new and expert consultants at http://www.ConsultantsMarketingMachine.com.
Sunday, 22 September 2013
Consulting Is All About Marketing - You!
I debated about the title of this article. Originally, it was: "Consulting is All About Finding Clients." From there it morphed into: "Consulting is All About Marketing Your Services." And then, after musing over what I did in building my practice over the years and what it was that clients actually purchased, I realized that what most clients actually buy is "you" the person.
Business Owners Are Really Buying "You" as Much as Your Expertise.
This is particularly true for small business owners. In a very real sense the small business entrepreneur IS her (or his) business. Every decision is a personal one and often they come to the decision to seek help only after anguishing over the fact that they can't do it alone. (Most entrepreneurs embody at least some characteristics of the superman complex.) That opens up the possibility that they feel vulnerable.
Your Sales Process Does Not Include "Cold Calling."
It stands to reason that they will be cautious - even suspicious - of you and your expertise. So how do you break through the barriers to engagement?
You certainly don't want to stand on a street corner with a sign that says "expert consulting services for sale." Nor do you want to go door-to-door offering your services. Neither of these approaches would instill confidence in a prospective client's eyes.
How clients actually "find" you is usually through referral, by reading your words of wisdom or by investigating sources of expertise in a specific area that they "think" they need assistance with.
Your Sales Process thus begins by gaining a reputation for being a problem solver. You do this in several ways, too many to list in this article. But all of them, to one degree or another, must enhance your problem-solving reputation. And that usually means that you find ways to "demonstrate" your knowledge.
Sampling The Inventory in Your Professional Brain
When you write a white paper, give a talk, appear on a panel or get quoted by some other authority -- sharing provocative bits and pieces of your knowledge -- you are indirectly marketing yourself. It's admittedly an oblique approach, but all the things you do today will impact your sales tomorrow.
Everything You Do Publicly is Marketing!
From your business cards, stationery, phone answering to your wardrobe and the car you drive, look at yourself through the eyes of your prospective clients. How will they judge you? If, for example, you drive a Maserati, will they resent "paying a premium" (in their mind) for your services or will they assume that your services are really valuable? If your phone is answered by a machine that sounds like a relic from the 1950s, will they worry that you aren't up to date on business issues? If you admit to not knowing how to Tweet, will they think you are "an old dog unable to learn new tricks?"
These may be subtle things, but you are selling an intangible service. Like it or not, marketing will likely determine your level of success in consulting.
Looking for more on how to break into the world of consulting? Long-time entrepreneur Joseph A. Krueger of The Marketing Machine® shares regular stories and tips - mostly but not all marketing related -- for new and expert consultants at http://www.ConsultantsMarketingMachine.com.
Friday, 20 September 2013
Wednesday, 18 September 2013
Credit Repair Tips - Fixing Your Credit Score After Bankruptcy
Tips on How to Improve your Credit Score
So you can't get a loan. It was probably your credit score that clinched the deal to the wastebasket. You see, when you apply for a loan, financial institutions and lending companies look at your credit score for guidance. People with low scoring history are more likely to be rejected for a loan or at best be given a small amount for a loan, with a high interest rate and a shorter time frame to pay the loan.
In contrast, people with high credit ratings are given higher amounts of money for a loan, lower interest rates and longer time frame to pay the loan. This is because people with a good credit score are perceived as less of a risk, more responsible, more able to handle their finances and worthier to be given a loan.
Here are some tips that can help you improve your credit score.
1. Keep a payment schedule
One of the factors that affect credit report is your reputation for paying your bills. Even if you pay them, but always late, it can still affect your credit rating. This is why it is important that you keep a payment schedule if you really want to raise your credit score a notch.
You can do this by keeping track of all your bills especially your credit card statements. This way, you will not only incur additional charges in terms interests, you will also build for yourself a good credit history.
2. Spend only when you need to
Another factor that affects credit scores is your credit card. If you often have credit cards that are maxed out and well and beyond its credit limit, your credit score will become lower. This is because a maxed out credit card reflects a spender who cannot handle finances. This kind of person is a risky candidate for a loan.
3. Borrow from only one
Some people make the mistake of applying for a loan in more than one company all at the same time. Do not do this. Although banks do not actually check with each other, they do have their own ways of finding out if you have also borrowed money from other institutions. If this is the case, your credit score will take a nosedive.
This is because people who borrows from a lot of companies are seen as too desperate for money or is too needful of it. Some see this as a dubious way of acquiring money. So if you are afraid of getting rejected and you just want to make sure that you will get a loan, try waiting for one response before starting an application in another. That way, your credit score will not suffer.
4. Pay your outstanding debts
You may be paying your debts but you have a lot that you are not finished paying yet. This is also not good in your credit history. Although most companies would want to lend you the money because you are a good payer, having too many outstanding debts that you are still paying for may make them think if you can still manage to pay another one.
If you feel that you can pay one debt in full, pay it. That is one less debt for you to worry about. This will not only bring you a step closer to financial independence, it will also improve your credit score.
For more info you can visit my blog:
Subscribe to:
Posts (Atom)