The Pedestal Group

This weekend I watched Shark Tank.  I had avoided it because it sounded so goofy and so many other bloggers were on the band wagon.  But what I saw happens all the time in real life too so it was worth discussing.

Over and over people came in with their ideas that they held onto like children.  But when questioned, they were so focused on the person asking the negative question that they ignored the fact that others were still interested!  One couple actually blew the deal because one of the investors asked an, “I’m interested” question while another made a comment about why she was out and they addressed the “I’m out”!  They put all their energy into defense when there was a perfectly good chance of getting the deal if they had just listened and stayed focused on their goal.

If I knew someone going in, I would certainly recommend they accept the “I’m outs” for what they are and hear everyone before they started defense.  They should also remember, as we all should, questions are not negative or positive – they are an indication of interest.  In someone asks you a question, there’s a reason they want to know the answer. So answering it helps move the process along.  Answer them honestly – this is not the time to make promises  you can’t deliver.  If a customer does say “I’m out”, see if you can understand why.  One of the nice things the sharks do is they do explain why they are out.  Most of the time, there is no point in discussing – if the shark doesn’t feel they have any connection to an industry, your talking isn’t going to change that.  But, there are times when they say something that isn’t accurate and the presenter has a chance to explain.  That happens in our sales process too – if a customer says “I’m not interested because…”  you get a chance to really explain why they are wrong.

Now sometimes, they are right.  ”I’m not interested because we have filed Chapter 11″ isn’t something you can answer.  But, can you offer them something?  Put them on a mailing list to keep up with industry trends?  Call back in 1 month when their position will be clear?  The name of a good industry-focused recruiter?  Something? Offering something even to a “no” shows you believe in your product and actually interested in a relationship.  And that can go a long way to turning a no into a yes.

So be careful not to be defensive when talking to people.  If they ask a question, take it at face value and don’t try to read too much into it.  And if they are “out”, try to give them something so at some point they come back in.

I received an email from someone inquiring about  my services.  There was something about the email that was too direct – too little information – to make me feel comfortable.  I called and got voice mail so I left a message and we played phone tag.  When we finally connected, I did not have a good feeling about him at all.  From the first email there was no attempt to build a relationship, establish a connection or further a discussion.  Looking at the company’s website, it gave the same impression.  Lots of ways to communicate via the web and email, but very little to invite a relationship or establish a connection with people.  I got the sense that candidates are numbers and clients are just a little better than that.  Since this isn’t my type of customer, I didn’t pursue the conversation or try to solidify the deal.  He determined we weren’t a good fit and we went our separate ways.

As a small business owner, walking away from potential business is tough.  There’s always the “what if” game going on in your head.  In the past I have had prospects who worried me regarding follow through or payment and addressed those issues in the proposal (which turned out very well).  But this one just didn’t feel right.  I wasn’t convinced I would enjoy working with this individual nor would I provide him the kind of service he needed – he just wouldn’t get what I was talking about.   So I walked away as professionally as I knew how.

It is very tough to recognize that not everyone is right for one’s services.  But there are some needs that aren’t a fit.  When it doesn’t feel right, the best thing to do is to move on – it is a better solution for both parties.  So don’t be afraid to walk away if it doesn’t feel right.  And if you need someone to tell you that again, give me a call.  I know this is tough!

I belong to a chapter of BNI – Business Network International.  This group is a great source of business, friendship, ideas and a place to talk to other entrepreneurs.  Love that!  But what really hit home for me recently was talking to a competitor.  She asked how I can offer solutions in marketing and social media, planning, hiring and technology and I explained my background. Then she asked what I do when a small business needs something outside my expertise.  I explained I have partners that handle the other aspects of business that I can’t.  As we talked, I realized how amazing that really is.  Need a bookkeeper?  Got one!  Need promotional materials?  I know the people to call!  Need to set up solid retirement strategies for yourself and employees?  No problem!  Need insurance so if something happens to a principle in the company everyone is okay? Done.  You get the picture.  And since I have done business with them and know many others who have, I can confidently recommend them to my clients and know they will get top-notch service.  Perfect!

So what can’t you offer that your clients need?  What areas would be great to have someone to refer to and have them refer business your way?  It is always important to narrow your offering to be easy to explain and allow you to deliver consistently.  Now, it is time to think about what areasyou haven’t covered. A solid partner who understands the value of what you do and how it fits together with what they do is invaluable and when you hand off that client, you know they will come back.

Once you figure out the area(s) you could use a partner, you need to find one.  Keep in mind this is going to be someone you refer clients to so spend some serious time talking to their sales team, understanding what they offer and make sure you are comfortable.  If they offer a demo, be sure to go through it and fully understand.  Then, do an experiment – referr only one person and closely track the progress with your client.  I have known some people who have split the cost with their client to test out a service.

Once you have this established, you get the benefits of knowing where clients are going for those services, you appear bigger than you are since you made the referral, your clients will begin to see you as a one-stop-shop which can be invaluable as you grow your business, and you get to know what’s going on in multiple industries.  Partners can  be a huge strength and seriously help grow your business.