strong business in a weak market with felicia lee

Candeo Communications Inc. www.candeo.ca ©Flett Ventures Inc. Email: [email protected] Tel: 778.986.1138

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Strong Business in a Weak Market 1. Look at who you have in your pocket

Group Key Message(s) Past Client

Prospect

Alliance

Personal Contact

2. Get clear on the problem you solve

What are 5 reasons clients buy from you now?

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Be clear on what you offer to the market:


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Question Answer What do you do?

Why does it matter?

Who cares?

3. Look at the markets that you should be serving that you aren’t.

Question Answer What does my clientele have in common?

What markets could want my offerings that are not currently buying?

What would it take to open up this market?

Are there changes I would need to make to open up this market? (i.e. Messaging, new marketing materials, different payment rates, different colors, styles, etc.)

How can I go about starting the conversation with this market?


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Who do I know that represents this market that I can talk with and gather information? (i.e. If you are targeting new home owners, who do you know who just bought their first home; targeting Italian builders, who do you know who is Italian and in the construction industry?)

4. Look at any markets that could be serviced by adjusting your model

To Do:

• Consider ways to make it easier for client to buy from you

• Look at ways to compartmentalize your offering

5. Become a lean, mean, selling machine

Sales Funnel:

Monthly Sales Goal:

Prospects Presentations Clients


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Weekly Sales Goal:

Daily Sales Goal:

6. Tweak your payment terms

What are 4 ways you could offer different payment terms to your clients?

What other things could you offer clients to soothe their cash flow issues?

7. Remind your competitor’s clients that you are a great alternative

Who are your five main competitors?

Which accounts/clients do they have that you want?

In what way could you do a better job for these clients? Price? Service? Support? Provide a variety of offering?


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8. Review your payables and negotiate down

What is your monthly burn rate?

Make a list of all your vendors and consider how you can get better terms or get them to drop your price:

Do all your business expenses make you money?

Are there any payments you are making (office space, cell phone) that are larger than they need to be?

How many months of cash flow do you currently have socked away?

How many clients would you have to lose to be in serious cash crunch?

How many of your receivables are >60 days overdue?

9. Explore bundling services/products with partners

Who do your clients also buy from that is a complimentary service or product to yours? Is there an obvious fit between you and them?


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Make a list of 5 potential partnerships, find contacts, and pitch the idea.

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10. Kill your clients with kindness!

What 10 things can you do to show your clients appreciation?

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What 3 actions will you commit to in the next 4 weeks to improve your business?

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E-‐mail your 3 action items to [email protected] by September 17th, 2010 to receive a 45-‐minute complimentary coaching session, valued at $200. (Offer valid for DWC members only)

strong business in a weak market with felicia lee

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