Archive for March, 2008

What Rainmakers Do: How To Bring In The Clients That Leave Your Colleagues In Awe

Friday, March 7th, 2008

Event: Live webinar with Ford Harding

When: Thursday, March 13, 2008, 2:00-3:30 PM EST

Register: Register with Rain Today $99

Description: Every business leader knows that he or she needs new business to sustain and grow a firm. But how do you do it? Many firms lean on their “rainmakers” - that is, professionals who bring sufficient work into a firm to leave their colleagues in awe. In this RainToday.com webinar, business development expert Ford Harding leads a presentation on what is required of individuals to develop business at a professional services firm.

Drawing on his best selling book, Rain Making: Attract New Clients No Matter What Your Field, this discussion will hit on three key messages:

  • Anyone can be a rainmaker: You don’t have to fit a specific personality type to succeed.  Specifically, you don’t have to be highly extroverted. This message helps many professionals deal with the concern that they aren’t “the selling type.”

  • There are fundamental principles for becoming a successful rainmaker: This part provides guidance on things participants can do to get started.

  • Rain making is based far more on helping other people in a professional way than on hard selling: Knowing this reduces one major barrier to getting started.

Content draws on proprietary data from interviews with over 100 rainmakers and with people who know the rainmakers well. There will be exercises for attendees to illustrate the presentation’s points.

Networking for Women Rainmakers Part 8, Take Risks

Wednesday, March 5th, 2008

Rain MakingThis article is by Mimi Spangler, a partner at Harding & Company.  Some of the material in this posting appears in  the second edition of Ford Harding’s book, Rain Making, which will be published in February and contains about 40 percent new content. 

This is the eighth and final post in a series of eight blog posts on networking for women. These entries originally appeared as an article in Management Consulting News.

8. Take Risks

Women are presented with challenges on their career path to rainmaker. Peak advancement years in their mid-30s coincide with equally high demands from child rearing and family. Addressing this conundrum effectively requires knowing what you want and then taking risks to get it.

DeAnne Aguirre, Senior Partner at Booz Allen Hamilton, said, “Early on I spent too many years on planes every week. I decided that I needed to develop a local business or find another profession after I married and then proceeded to have four children in six years. In addition, I fundamentally believe that the consulting business is disadvantaged if your operating model keeps you on an airplane 10 to 20 hours per week.

You cannot develop client relationships on an airplane! Therefore, my business development is local, either in the San Francisco Bay area or within a one-hour flight. It took 18 months to develop a solid local business and I did that knowing it was risky to change my client base.”

Another working mom similarly related that, in an effort to stay near her new child, she pursued local companies, at her own risk, that were not assigned by her firm to her as target accounts. As she became successful in generating local business, she found that the local clients referred her to others outside of her geographic area!

Conclusion

Most of the women we interviewed didn’t see significant differences between networking for men and women. All said that it is important and requires strict discipline for professionals, both men and women, to grow their networks and keep in touch. They indicated their belief that the playing field for women is fairly equal. One rainmaker summarized by saying, “There are no excuses now for being a woman.” 
 Mimi Spangler is a partner at Harding & Company, which helps professionals learn to develop business. She has worked with consultants at many firms, both large and small. For more information, visit the company’s web site at http://www.hardingco.com/ and blog at www.hardingco.com/blog. Spangler can be reached at mspangler@hardingco.com.
 

 

Three Ways to Get A Good Seat

Tuesday, March 4th, 2008

Salesopedia is featuring my article Three Ways to Get A Good Seat on their home page this week.

We’ve all done it.  We’ve gone to a networking event to rub elbows with prospective clients. When it comes time to sit down for the meal, we know we will be spending at least an hour with the people to our left and right at the table.  This is more time than we will spend with anyone else, and we want them to be worthwhile contacts, in other words, prospective clients.  But there are a lot of hangers on in attendance, all trying to get the coveted seats next to these same clients.  If we leave it to chance, there is a strong probability that instead of a prospective client we will be sitting with hangers on.

>>>Read the complete article on Salesopedia.

Botching a Sales Meeting

Monday, March 3rd, 2008

It’s been gnawing at me for two months.  And it’s driving me mad.  I never imagined this blog as the kind where the author revels in his own anguish for all to read in hopes of catharsis. But here goes.  I hope it works.

I botched a sales call.

I took an opportunity I had been working on for over a year, one I had nurtured seed to seedling to budding plant and hacked it down before it could bloom.  It was about as sure a thing as one could have without a retainer check in hand and in one hour I threw it all away.  I did it by breaking the most basic rules in the sales book. I . . .

  1. . . . didn’t do my homework.  I referred to the client as . . . oh, shame of shames . . . as an accountant when his firm’s website clearly states that he is a lawyer,
  2. . . . talked too much (The less said about this the better!),
  3. . . . interrupted him, and
  4. . . . sold past the close.

Reviewing this list, I cringe.  I deserve to be busted down to sales private for such a series of gaffes.  Needless to say, the client hasn’t moved ahead with the work.  Who can blame him?  He remains polite but distant. 

This self flagellation must stop.  It is getting me nowhere.  So I ask myself, what would I advise a client to do, if one came to me in a similar plight?
I hope I would start by asking some questions:

Q:   Are you sure you made all these mistakes?
A:  Yes.

Q:   Are you sure the client noticed?
A:   I can’t answer that for certain.  He is a nice man and unlikely to ever confront me with my failure.  But he is also an intelligent man and odds are that he did.

Q:   Have you been on many other sales calls lately?
A:   Yes.

Q:   And how did they go?
A:   Most of them went well.

Q:   Well? How do you know that?
A:   For a start, two of them have hired us, both for significant amounts of work.

Q:   Congratulations. Good work.  So, what happened that caused you to mess up the meeting you were worried about?
A:   I don’t like to make excuses.

Q:   I know that.  But my question stands. What caused it?
A:   I hadn’t had much sleep the night before.  I was worried about some personal things.  It seemed such a sure thing that I let down my guard.  Somewhere in all of that lies the reason, I suppose. What difference does it make?

Q:   I hope the personal things are better now.  Have you talked with the client since the meeting? Have you explained what happened?
A:   I talked with him briefly, but he was noncommittal.  I didn’t mention my mistakes.  A person who used do work with him suggested I do that, but I’m not sure it’s a good idea.

Q:   How well did this person know the client and exactly what did he say about acknowledging your mistake.
A:   It was a she, actually.  She used to have the office next to his, I think. She said that he was the kind of person who would appreciate that.

At this point I would be ready to give some advice.  It would go something like this:

Well, it seems probable that you did blow the sale, which isn’t good, especially given who you are.  On the other hand, it seems a relatively isolated case.  Let’s keep it in perspective.  No one died. No one went without food.  I don’t think it’s much to worry about. 

 Try looking forward instead of back or, if you catch yourself still looking back, remind yourself that it was an isolated incident, that you are entitled to have a bad day from time to time, and that you also won two substantial pieces of work. 

 Learning how to recover quickly from setbacks like this is important to anyone who wants to be a rainmaker.  When thoughts of your shortcomings repeatedly force themselves to the front of your mind, reminding yourself of good things you have done can sometimes help you get a more balanced view of yourself.

 It does sound as if telling the client that you are aware of your mistakes might be a good idea.  At the very least, he will be less likely to mention it to others, and at best? . . Who knows?  But, it’s for you to decide whether you want to call him.

 I would go back and review your notes on basic sales behaviors. It’s a good thing to do every six months or so, in any event.  And it will help reinforce the lessons you learned from this event.

Whew, that did make me feel better.  And I promise not to burden you with my personal anguish very often.