What is the definition of Success? Many people confuse the outcomes of success with success. The outcomes of success can be the new car, the new house, more free time; but that is not success.
In this unique and short (10 minute) video, I will talk about the real definition of success (and I can assure you it is not what you think!):
Ignore these at your peril!
Last but not least, build relationships with your competitors. You might be able to do this right at the beginning, simply by asking them for their advice. Surprisingly, many ARE willing to share their secrets if you just ask. Later on, build cross-referral relationships, co-marketing alliances, and other relationships that are win-win for you, your competitors, and your customers.
How to identify who is – and more importantly, who isn’t!
“I don’t know the key to success, but the key to failure
is trying to please everybody.” — Bill Cosby
Have you ever had clients that were more trouble than they were worth? Maybe they were always late to pay, or didn’t do what they said they’d do. Maybe you just had a personality clash, or they expected more than you were able to offer. Whatever the situation, chances are you had an inkling when you first met that client…a tiny voice that you didn’t listen to, that was probably overshadowed by the bigger voice that said, “Hey, it’s business; I’ll take it!”
Drawing The Line
Learn to say no to those clients, before they start draining your energy! The key to being able to do this is to understand Your Ideal Client. Once you know how to recognize who is ideal and who is not, you can practice turning down business from the latter. If you have trouble saying no, you’ll need to learn this critical business skill, and what to do to get rid of problem clients you already have; see the resources at the bottom of this article. If you have a coach, ask them to help you complete the Ideal Client exercise, or to role-play those “saying no” conversations.
How to Discover YOUR Ideal Client
There are many ways to approach the Ideal Client/Customer Profile. You can sit down and imagine the best, most wonderful client you could have–whether that is an abstract entity, a celebrity (what writer wouldn’t want Oprah as a customer, for example), or a specific demographic profile. If your customers are more likely to be companies, you could look at your current client list, and pick the company that gives you the most business, the most joy, the least heartburn.
The Ideal Client Profile
Whoever you pick, start a profile matrix with two columns: “My Ideal Client Is:” on the left; “My Ideal Client is Not:”, on the right. In the column on the left, list all the characteristics of that type of person or company. Use the questions below as prompts to get you thinking about all the different aspects of each client.
Then, either think of the opposite of all those aspects, or pick the “client from hell” and fill in corresponding traits in the right-hand column. Be really honest with this exercise! If you’d rather only have clients who make over $500,000, put that down! Your clients who don’t fit your Ideal characteristics, whether you write them down or not, will eventually know it. May as well get that over with early!
Prompts: Consider these aspects of your Ideal Customer or Client:
Now What?
Compare your current client list to the two columns in The Ideal Client Profile. How many have the characteristics of your Ideal Client? If the answer is “not many,” you may need to work on firing some of your clients! Check out some resources below on how to do this.
Next, post your Ideal Client Profile somewhere you will see it often. Every time a new potential client comes along, start looking for those Ideal characteristics…and beware the non-ideal! If that little voice starts to tell you something might be wrong, check in with the non-ideal list–and be ready with some ways to turn away non-ideal clients. Offer them other options–refer them to someone else who is a better fit, and make two people happier!
Ideal Clients–For Life
There are many ways to leverage the work you have just done with the Ideal Client Profile. Here are some ideas:
Start attracting your Ideal Clients today!
Here’s How to Make it Easy
Some people make decisions without any difficulty, while others struggle. Are you having trouble making a decision? Do you feel overwhelmed by all the choices you have, and aren’t sure how to pick just one? No matter how big or small those decisions might be, I can teach you how to strategically:
“If we wait for the moment when everything, absolutely everything is ready, we shall never begin.” Ivan Turgenev, famous 19th-century Russian novelist, poet and playwright
DEFINING THE DECISION AND ALTERNATIVES
STEP 1: What is it that you need to make a decision about? Maybe you have several choices to make, but start with one. Ask yourself a couple of questions that are applicable to your situation, such as:
“What do I want to be doing for the next 6 months?” “What business am I going to start?” “What aspect of my business do I want to grow?”
STEP 2: Determine your primary goal and write it down. For example, you might want to grow your business over the next six months. Therefore, your goal sentence might be: “I want to earn 25% more within the next 6 months.”
STEP 3: After you’ve written your goal sentence, begin brain-storming a list of ideas for how to achieve the goal. Below are some rules for brainstorming:
You do not have to generate a list of ideas in one sitting, but you may need to set some limits around how much time to spend creating your list. Be creative in how you capture your ideas. Carry a small notebook with you so when an idea comes to you, you?ll be prepared and write it down immediately. I put stickies (Post-It notes) and pens in my purse, car, and bedroom, so whenever and wherever I generate an idea I have a way to capture it. When I?m ready, I collect the stickies and add them to a master list I keep in my office. Just do whatever is easiest for you!
After you feel you’ve completed your options list (or when the time you’ve given yourself to make the list has run out), ask someone you trust to read over your ideas. This person needs to be someone who has a positive attitude and is supportive of your efforts! The person may come up with some options you hadn?t considered. Write them down! Remember, you’re not judging the ideas–just recording them at this stage.
DETERMINING THE CRITERIA AND EVALUATING EACH OPTION
STEP 4: Identify no more than 4 or 5 criteria that you will use to determine how well your options achieve the goal you’ve established.
Decision criteria provide checkpoints to measure your options against your goal. Typical criteria fall into two categories:
Do-ability (do I have the money, time, expertise?)
Likelihood of Success (do they meet the goal in time, revenue, fun factor?).
STEP 5: Using the criteria you’ve defined, evaluate each option. This process can be as simple, or complex, as you desire, and may be qualitative or quantitative. You may need to allow some time to experiment a bit with some ideas to test them out and determine how well they meet each criteria.
MAKING THE DECISION
STEP 6: Sometimes the winner(s) is obvious you’ll just pick it and go with it. Or, you may immediately notice certain ideas drop to the bottom of the list and just need to be deleted because they do not support your business needs. When one option is not standing out among the others, you may have to prioritize the options by weighting the criteria to help you evaluate the alternatives and make your decision.
BONUS STEP: Keep in mind, just because an idea may not fit with your current focus; it may serve you later. Create a place to store those ideas–an “idea vault” to tap into the next time you need good ideas!
Terri’s keys to successful decision-making
With steadily increasing global competition, it is more important than ever that each employee in your organization have a clear understanding of the company’s overall vision, be in alignment with the organizational goals, and have identified how their day to day activities contribute to the accomplishment of these objectives.
No longer do people have the luxury of arriving at work, completing their assigned tasks, and going home, thinking, magically, that everything will continue to work out as before. We are experiencing a rapidly changing business climate, which demands shifts in attitudes and creative thinking in order to meet the challenges of the future.
How can your company accomplish this throughout your organization?
Beginning, as author Steven Covey, reminds us, “with the end in mind.” As an executive, you must ask yourself and your team what the “ideal” looks like in each key area. In sales, for example, what would be the ideal situation? How would it appear? What about manufacturing, administration, and distribution? If everything were operating perfectly, how would you describe it?
Bringing key management together for this type of strategic planing session will result in your having identified a crystal clear vision for the entire organization, with each and every segment of the business functioning at it’s optimal level.
This visioning exercise can then be adapted and used by each department to create a “mini” version for their own area of responsibility and, further, to the individual, enabling she or he to relate their job to the bigger picture as well as their personal goals.
Once you have a clear vision of what the ideal would be in each area of your organization, the next step is to identify several goals by which you can measure your progress. For the sake of this exercise, we’ll use a one year time frame, since this is a reasonable period to institute change, while allowing you to experience success early on.
Looking at each segment of your business, what would have to happen to accomplish your ideal vision? If, for example, in distribution, the ideal was to achieve 100% on time delivery and no more than a 72 hour turnaround, what are the measurable goals that would support it’s accomplishment?
When setting goals, it is important to use the S.M.A.R.T. method , whereby each goals is Specific, Measurable, Actionable, Realistic, and Timed. Specifically, what will you accomplish by when? Then, from your list of goals, you can develop 30–90 day milestones and further reduce those to identify the daily actions that must be taken in order to succeed.
For example, part of the vision for your sales department might be, “To be the best in our industry. To be the ‘gold standard’ by which our competition measures itself against.” This will likely translate to an increase in sales, improved customer retention, better referrals and so on.
From this, the sales woman in your New Jersey territory may, looking at her personal vision and goals, decide she wants to earn 50% more in commissions and calculates that this would require XX dollars in sales each quarter. From this, she has determined, based on past performance, how many sales per month she needs and, further, how many presentations she needs to make each week. This breaks down further into how many calls she needs to make each day in order to accomplish this, what additional systems she might implement to achieve better customer retention, and which networking functions would best support her vision.
With each and every individual, in each and every department, holding the same, clear vision and knowing their role in it’s accomplishment, you will experience a level of success beyond your wildest expectations.
Jim Donovan, is the author of several critically acclaimed self-help and business books, published in 22 countries, a highly sought after motivational speaker, and the President of Jim Donovan Associates, a peak performance consulting company that offers programs and services to help companies grow and prosper in today’s competitive marketplace. To learn more visit JimDonovanAssociates.com.