Andree_WhitePaper_r8

phone (203) 906-7266 | Kristin@AndreeGroup.com | www.AndreeGroup.com
10
REASONS
YOUR BUSINESS
ISN’T GROWING
FAST ENOUGH
TOP
Business Strategies Delivered
In working with business owners, executives, and other
professionals, we see a number of common stumbling
blocks that keep their businesses from skyrocketing.
Here are the Top 10 Mistakes we frequently encounter
and tips on how to overcome them.
phone (203) 906-7266 | Kristin@AndreeGroup.com | www.AndreeGroup.com
Many professionals feel by narrowing their focus too much they
will be missing out on opportunities. This simply is not true.
Those who narrow the scope of their business and become
an expert in a particular market end up becoming highly
specialized, highly productive and highly referable.
NO DEFINED TARGET/
NICHE MARKET
1.
Determine the target market(s) you enjoy working with and
where you have a keen knowledge and understanding of the
market’s typical needs and goals. Clearly define this market and
outline criteria for your A+, A, B & C clients and prospects within
this scope.
WHAT TO DO?
Once you clearly identify your target market, spend your time
there. In most cases, professionals and business owners spend a
small percentage of their time working in their target markets.
SPENDING TOO MUCH TIME
WITH THE WRONG PEOPLE
2.
WHAT TO DO?
Take a close look at your calendar. If 80% of your time is not
spent in front of, or trying to get in front of, your A+/A clients
and prospects, then your business won’t grow at the rate
it could.
Frequently professionals and business owners don’t ask for the
introductions they want - perhaps out of complacency or laziness.
Often however, it is fear that asking for an introduction will somehow
ruin your relationship with your clients. Done the right way – it won’t!
NOT ASKING FOR THE
INTRODUCTIONS YOU WANT
3.
WHAT TO DO?
First, research your top clients to gain a clear understanding of the
people in their network, and in a conversational manner, ask for an
introduction. Second, utilize LinkedIn & other online resources to
determine who fits your target market; determine who in your
network could foster an introduction. This does take time & needs to
be done without coming across as pushy. Focus on the relationship
with your client or center-of-influence, pay attention to who they know
and work to be come referable. Above all, work to build relationships.
Many business owners and professionals seem to forget that
obtaining a new client or customer is only the beginning. You
have to continually grow those relationships and work to make
your A/A+ clients feel like a VIP. Always remember...your best
clients are another person’s best prospects!
Spend time developing a client engagement plan for all
segments of your clientele. This plan should include everything
from client communication, to their experience the minute they
enter your office. Focus on larger client events, as well as smaller,
spontaneous interactions. Continually work to develop authentic,
engaging relationships.
FAILURE TO CREATE A SOLID
PLAN FOR CLIENT ENGAGEMENT
4.
WHAT TO DO?
There is a great quote we use with our clients: “The amount of
work you have to do expands or contracts to the time you have
for it.” This is the cornerstone of effective time management. If
you do not have a clear plan of what you want to accomplish,
you will find yourself gravitating toward non-revenue generating
tasks whenever you have a free moment. The most successful
people we coach have a detailed plan for what they want to do.
Make it a practice each night to PLAN out the following day. What
client appointments do you have & are you fully prepared for them?
When will you make phone calls or respond to emails? What items
on your To Do list must you get done during the day? Asking yourself
these questions and determining where each item fits into your day will
create greater efficiencies and make the best use of any “downtime”
you have.
POOR TIME MANAGEMENT SKILLS
5.
WHAT TO DO?
Thinking “I can do it better and faster” causes a lot of people to
hang on to way more tasks than they should. The vast majority
of your time should be spent meeting with clients and prospects.
Getting introduced to new prospects, building & developing your
team, and nurturing relationships are key. Sure, you will need to
have your hand in other areas of managing your business, but a
large majority of other tasks can likely be delegated.
Take a look at where you spend the bulk of your time during the day.
Are you spending too much time on administrative tasks? Are you
delegating to your staff or hanging on to tasks because you feel you
can do it better or faster? If you aren’t spending the majority of your
day with clients & prospects, take a look at the tasks that could be
taken off your plate. Even if that means investing additional time in
training your staff; it will more than pay off in the long run.
SPENDING TIME ON TASKS YOU
COULD BE DELEGATING
6.
WHAT TO DO?
If you are holding on to too many tasks because you feel your
staff cannot handle the tasks you give them, you should take a
serious look at whether you have the right people on the bus.
Without fail, the most successful and profitable professionals we
coach have phenomenal staff. They feel confident in the fact they
can send anything their way and it will be handled well.
This one is simple: “Slow to hire…quick to fire!!” And, we might
add - train your staff properly. Invest time up front, during the
hiring process, to select the right candidate. Then ensure they
receive the training & resources they need to be successful in
their role. Unless you have a trained HR person on your team, we
suggest you outsource your hiring needs. Work with your coach
or a trained professional to help you hire the next right person.
POOR HIRING AND
TRAINING HABITS
7.
WHAT TO DO?
Seek to find professionals you know, like and trust. Then proactively
refer your clients to them without expecting anything in return.
The more you serve as a resource to your clients, the more they
will view you as a trusted professional, always looking out for their
best interest. Further, the good karma you are putting out there by
referring others, will most certainly pay off!
We are not talking about a referral group where you simply
exchange leads. We are referring to building relationships
with other professionals. Connections who could be of value
to your clients: attorneys, accountants, business consultants,
venture capitalists, insurance professionals, bankers, and a
wealth of other resources. Our top clients excel at building these
relationships and at facilitating introductions between others in
their network.
NOT BUILDING A NETWORK OF
STRATEGIC ALLIANCES
8.
WHAT TO DO?
This one ties right into the “Building Strategic Alliances” piece.
In our coaching and consulting work, we have found that “an
abundant referrer will always be referred.” We take this fact
to heart and always make sure we serve as “connectors.” We
encourage our clients to do the same and introduce people who
could be mutually beneficial to each another. This allows us, as
well as our clients, to build a community of friends, colleagues,
clients, and connections who are always eager to return the favor.
Make at least two introductions per week expecting nothing in return.
Do you have a client looking for a new luxury car? Refer them to your
friend who owns a local dealership. Is your top client struggling with
marketing his business? Introduce him to the marketing consultant
you worked with to grow your own business. Actively look for
opportunities to connect your clients to the resources they may need.
EXPECTING TO RECEIVE
WITHOUT FIRST BEING A GIVER
9.
WHAT TO DO?
Once you have outlined your goals for the year (quarter/month), take
time to write down strategies to help you accomplish them. If you fail to
outline the “HOW”, it is easy to fall short of hitting your goals. You will
also want to map out personal and professional development initiatives
and goals you want to tackle.
Securing the help of an accountability partner or coach will help you
stay on track with your goals. They can also serve as a valued resource
to help you “course correct” as needed.
We have talked about strategies to make the time you spend “in”
your business more efficient and more profitable. Now, we want
to ensure you are carving out time to spend “on” your business
as well.
SPENDING TIME IN YOUR
BUSINESS BUT NOT ON
YOUR BUSINESS
10.
WHAT TO DO?
phone (203) 906-7266 | Kristin@AndreeGroup.com | www.AndreeGroup.com
To learn more about our private coaching programs which
guide you through the development and implementation of
customized strategies designed to take your business to the
next level, contact us at info@andreegroup.com.
Andree Consulting Group, 2016
By accessing or using any materials provided by or e-mail attachments from Andree Consulting Group (collectively, “ACG Materials”), you agree to be bound by these terms of use (“Terms of Use”). These Terms of
Use affect your legal rights and obligations. If you do not agree to be bound by all of these Terms of Use, do not access or use ACG Materials. ACG Materials are original work product and sole property of Andree
Consulting Group. ACG Materials contain unique proprietary information which is being shared with you for limited use within your current department solely in connection with your professional development work
with Andree Consulting Group. Any reproduction or distribution of ACG Materials (or any portion thereof) in any form is prohibited without the prior written consent of Kristin Andree or Andree Consulting Group.
Violation of these Terms of Use may result in legal action.
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Andree_WhitePaper_r8

  • 1. phone (203) 906-7266 | Kristin@AndreeGroup.com | www.AndreeGroup.com 10 REASONS YOUR BUSINESS ISN’T GROWING FAST ENOUGH TOP Business Strategies Delivered
  • 2. In working with business owners, executives, and other professionals, we see a number of common stumbling blocks that keep their businesses from skyrocketing. Here are the Top 10 Mistakes we frequently encounter and tips on how to overcome them. phone (203) 906-7266 | Kristin@AndreeGroup.com | www.AndreeGroup.com
  • 3. Many professionals feel by narrowing their focus too much they will be missing out on opportunities. This simply is not true. Those who narrow the scope of their business and become an expert in a particular market end up becoming highly specialized, highly productive and highly referable. NO DEFINED TARGET/ NICHE MARKET 1. Determine the target market(s) you enjoy working with and where you have a keen knowledge and understanding of the market’s typical needs and goals. Clearly define this market and outline criteria for your A+, A, B & C clients and prospects within this scope. WHAT TO DO?
  • 4. Once you clearly identify your target market, spend your time there. In most cases, professionals and business owners spend a small percentage of their time working in their target markets. SPENDING TOO MUCH TIME WITH THE WRONG PEOPLE 2. WHAT TO DO? Take a close look at your calendar. If 80% of your time is not spent in front of, or trying to get in front of, your A+/A clients and prospects, then your business won’t grow at the rate it could.
  • 5. Frequently professionals and business owners don’t ask for the introductions they want - perhaps out of complacency or laziness. Often however, it is fear that asking for an introduction will somehow ruin your relationship with your clients. Done the right way – it won’t! NOT ASKING FOR THE INTRODUCTIONS YOU WANT 3. WHAT TO DO? First, research your top clients to gain a clear understanding of the people in their network, and in a conversational manner, ask for an introduction. Second, utilize LinkedIn & other online resources to determine who fits your target market; determine who in your network could foster an introduction. This does take time & needs to be done without coming across as pushy. Focus on the relationship with your client or center-of-influence, pay attention to who they know and work to be come referable. Above all, work to build relationships.
  • 6. Many business owners and professionals seem to forget that obtaining a new client or customer is only the beginning. You have to continually grow those relationships and work to make your A/A+ clients feel like a VIP. Always remember...your best clients are another person’s best prospects! Spend time developing a client engagement plan for all segments of your clientele. This plan should include everything from client communication, to their experience the minute they enter your office. Focus on larger client events, as well as smaller, spontaneous interactions. Continually work to develop authentic, engaging relationships. FAILURE TO CREATE A SOLID PLAN FOR CLIENT ENGAGEMENT 4. WHAT TO DO?
  • 7. There is a great quote we use with our clients: “The amount of work you have to do expands or contracts to the time you have for it.” This is the cornerstone of effective time management. If you do not have a clear plan of what you want to accomplish, you will find yourself gravitating toward non-revenue generating tasks whenever you have a free moment. The most successful people we coach have a detailed plan for what they want to do. Make it a practice each night to PLAN out the following day. What client appointments do you have & are you fully prepared for them? When will you make phone calls or respond to emails? What items on your To Do list must you get done during the day? Asking yourself these questions and determining where each item fits into your day will create greater efficiencies and make the best use of any “downtime” you have. POOR TIME MANAGEMENT SKILLS 5. WHAT TO DO?
  • 8. Thinking “I can do it better and faster” causes a lot of people to hang on to way more tasks than they should. The vast majority of your time should be spent meeting with clients and prospects. Getting introduced to new prospects, building & developing your team, and nurturing relationships are key. Sure, you will need to have your hand in other areas of managing your business, but a large majority of other tasks can likely be delegated. Take a look at where you spend the bulk of your time during the day. Are you spending too much time on administrative tasks? Are you delegating to your staff or hanging on to tasks because you feel you can do it better or faster? If you aren’t spending the majority of your day with clients & prospects, take a look at the tasks that could be taken off your plate. Even if that means investing additional time in training your staff; it will more than pay off in the long run. SPENDING TIME ON TASKS YOU COULD BE DELEGATING 6. WHAT TO DO?
  • 9. If you are holding on to too many tasks because you feel your staff cannot handle the tasks you give them, you should take a serious look at whether you have the right people on the bus. Without fail, the most successful and profitable professionals we coach have phenomenal staff. They feel confident in the fact they can send anything their way and it will be handled well. This one is simple: “Slow to hire…quick to fire!!” And, we might add - train your staff properly. Invest time up front, during the hiring process, to select the right candidate. Then ensure they receive the training & resources they need to be successful in their role. Unless you have a trained HR person on your team, we suggest you outsource your hiring needs. Work with your coach or a trained professional to help you hire the next right person. POOR HIRING AND TRAINING HABITS 7. WHAT TO DO?
  • 10. Seek to find professionals you know, like and trust. Then proactively refer your clients to them without expecting anything in return. The more you serve as a resource to your clients, the more they will view you as a trusted professional, always looking out for their best interest. Further, the good karma you are putting out there by referring others, will most certainly pay off! We are not talking about a referral group where you simply exchange leads. We are referring to building relationships with other professionals. Connections who could be of value to your clients: attorneys, accountants, business consultants, venture capitalists, insurance professionals, bankers, and a wealth of other resources. Our top clients excel at building these relationships and at facilitating introductions between others in their network. NOT BUILDING A NETWORK OF STRATEGIC ALLIANCES 8. WHAT TO DO?
  • 11. This one ties right into the “Building Strategic Alliances” piece. In our coaching and consulting work, we have found that “an abundant referrer will always be referred.” We take this fact to heart and always make sure we serve as “connectors.” We encourage our clients to do the same and introduce people who could be mutually beneficial to each another. This allows us, as well as our clients, to build a community of friends, colleagues, clients, and connections who are always eager to return the favor. Make at least two introductions per week expecting nothing in return. Do you have a client looking for a new luxury car? Refer them to your friend who owns a local dealership. Is your top client struggling with marketing his business? Introduce him to the marketing consultant you worked with to grow your own business. Actively look for opportunities to connect your clients to the resources they may need. EXPECTING TO RECEIVE WITHOUT FIRST BEING A GIVER 9. WHAT TO DO?
  • 12. Once you have outlined your goals for the year (quarter/month), take time to write down strategies to help you accomplish them. If you fail to outline the “HOW”, it is easy to fall short of hitting your goals. You will also want to map out personal and professional development initiatives and goals you want to tackle. Securing the help of an accountability partner or coach will help you stay on track with your goals. They can also serve as a valued resource to help you “course correct” as needed. We have talked about strategies to make the time you spend “in” your business more efficient and more profitable. Now, we want to ensure you are carving out time to spend “on” your business as well. SPENDING TIME IN YOUR BUSINESS BUT NOT ON YOUR BUSINESS 10. WHAT TO DO?
  • 13. phone (203) 906-7266 | Kristin@AndreeGroup.com | www.AndreeGroup.com To learn more about our private coaching programs which guide you through the development and implementation of customized strategies designed to take your business to the next level, contact us at info@andreegroup.com. Andree Consulting Group, 2016 By accessing or using any materials provided by or e-mail attachments from Andree Consulting Group (collectively, “ACG Materials”), you agree to be bound by these terms of use (“Terms of Use”). These Terms of Use affect your legal rights and obligations. If you do not agree to be bound by all of these Terms of Use, do not access or use ACG Materials. ACG Materials are original work product and sole property of Andree Consulting Group. ACG Materials contain unique proprietary information which is being shared with you for limited use within your current department solely in connection with your professional development work with Andree Consulting Group. Any reproduction or distribution of ACG Materials (or any portion thereof) in any form is prohibited without the prior written consent of Kristin Andree or Andree Consulting Group. Violation of these Terms of Use may result in legal action.