Purpose/ Your Why
It begins with your purpose your Why. Why do you exist as a business? What is your core purpose? Once you will be able to define this aspect, you will be able to pursue your Vision.
Values – Your guiding principles.
You need to determine your Values so that the clients you deal with are in line with your Values.
If one of your Values is integrity, then you must ensure that your clients are honest if they are not you are not living your Values.
Vision
Your Vision is where you want to go.
- What will your business look like in 3 years?
- What are your aspirations for your business?
- What are the products and services that you wish to offer?
Determine your income.
As an entrepreneur or professional, you need to determine your financial goal.
- What are your expected revenues in 1 year and 3 years?
- What is the average revenue for each client?
- How many clients do you need to achieve your financial goal? = Expected revenues / Average revenue per client.
Your Why, your Values and your Vision are your foundation for your business.
Step One:
Determine your Market / Niche
Often what I see in a lot of businesses and professional practices do not indicate what they are known for and what are the value or benefit they are giving to their clients.
By focusing on a specific Market or Niche you want to become more effective in your prospecting and be known in your marketplace.
Normally clients wish to deal with businesses that have expertise in their field so that they can relate.
- What are your unique talents as a business?
- What is the contribution you want to make to your clients?
- Where is your target market?
- Who will be your ideal clients?
- List the key problems/ needs they face and how you can help them solve.
- Why are you the perfect person to solve the problem or challenge?
Step Two:
Value proposition
The value proposition is the reason a prospect will purchase your product or service.
- What is it that you are offering to your ideal customer?
- What is the value or benefit is associated with your offering?
- Why should they buy your product or services?
Step Three:
Attract Prospects and Follow-up
Key: Build Trust with your prospect
1) ASK for referrals
With your existing customers, your current network or a strategic partner
From existing customers obtain testimonials.
Identify businesses that serve your market segment, this way you may form a strategic alliance.
LinkedIn contacts: Ask for an introduction to a prospect
2) Publish educational content and become a speaker to show your skills and talents.
Blogs, post on Facebook, Instagram, LinkedIn, Twitter
Articles and Advertising
YouTube videos / Online webinars
Seminars
Marketing Funnel to obtain leads. Drive prospects to your website to obtain leads
(e-mails). (Give away PDF Educational Item)
You constantly need to be building your prospect list and pipeline. Once you have a Prospect list / Pipeline connect with them on social networks like LinkedIn, Facebook, Twitter and make sure you reach out by telephone or e-mail.
3) Steps to Reach Out to Your Prospect
Preparation + Opportunity = Success
Success occurs when preparation meets opportunity. (Zig Ziglar)
Therefore, to be successful in your prospecting you need to be prepared.
Identify your prospect and define their problem or need.
Seek out personal connections (ex LinkedIn)
Check out prospects website
Search for media coverage of the prospect
Ensure you have a script, have mindset, positive energy and Believe in what you are offering.
Make the contact
How many prospects will you be contacting daily to reach your financial goal?
Follow-Up.
Studies indicate that 80% of the prospects convert on the 5th contact and 90% of entrepreneurs give up after the 4th try.
Therefore, discipline in reaching out to your prospects and follow-up is the key.
In closing put yourself into committed action to achieve your vision and continue to enhance your talents and skills so that you will be recognized as a trusted and effective business leader.
Orest Lysymanko, PCC
Orest Lysymanko is a Professional Certified Business Coach with Orest Coaching (www.orestcoaching.com) and can be reached at [email protected] or 514-770-2447.