For this edition of Entrepreneur University we turn to Business and Management trainer Martin Haworth. From managers of small, developing businesses and their teams, through to one-on-one work with senior executives, Martin enables a new generation of managers - and their businesses - to meet their potential - and deliver performance they only dream about.

Martin shares with us his secrets to networking differently:

“How many people do you know already?

Chances are that if you are past 25 years old, you will know upwards of a thousand people. That’s folks you would recognise if they bumped into you in the street. Hey, it might even be several thousand.

If you are looking for a career change, this is an opportunity you can leverage, through the people you know.

The common concept of ‘networking’ is different. It’s a business world in-your-face imposition where you are working against, rather than with the flow.

So why would you go off meeting people that you didn’t know, expecting them to do you a favor or two, when you have a bunch of people who already know you well enough?

The basis of all business transactions is trust. And trust is very hard to create if you are meeting people, in however friendly a setting, for a short period of time. Sure, you swap business cards and maybe meet up in the future - and at that point your trust has grown and you can do business.

It takes a lot of work, time and effort to gradually build relationships of trust, which is why so many people trying to sell things network in the ‘big-beakfast’ sense.

Desperate for the next hit of a new crowd, it’s the only way to, as they say, win the ‘numbers game’. The more people that go past you, the more likely there is one that will take the bite of the worm you’re offering.

As long as there are your sort of fish in the water, of course. What a task - and what a desperate way to try to get more business.

Think of ‘networking’ in a different way.

Great businesses make the most of the relationships they build over many years, creating repeat business. In fact some need to advertise no more, such is the power of who they are, what they do and the reputation they have built.

How about turning that into a personal value? A ‘trademark’ of who you are and what makes you different form other friends, family members and acquaintances.

So what are those ‘trademarks’ that win you the gold star credits and make others want to help you?

Try these:1 - You listen well and pay full attention - You are more interested in other people than yourself - You keep promises and do what you say you will - You are a great friend when others are in need - You share resources and put the people you know in touch with each other - You aren’t judgemental, but very objective (fact-based) when dealing with others - You talk less than you listen (see a pattern here!)

- You make time for others when you say you will - You say ‘yes’ when you can and ‘no’ when you can’t - and are honest about it - You are encouraging, enthusiastic, supportive and challenging with those you know Why do these ways of behavior build your network closely around you? Well, for one thing, when you are much more interested in those around you than you are about you, ironically you become much more attractive. So, not only do people like being around you, they are much more responsive when you need their help.

If you are looking around you for extended networks to push your efforts, then others who like you will do just that - and utilize who they know as well. If you know a thousand people, how many people do those thousand know? And how much use is a thousand thousand people all on your side?

The door you are seeking to open can become a lot easier if you have people who love you, and the way you are, on your side.

And that doesn’t involve getting up at 5am every Tuesday morning; force-feeding on a ‘heart-attack-special breakfast’; and fending off folks desperately trying to sell you even more business cards.

That’s not what you want at all.”

How have you networked to get clients for your business?

In keeping with our recent theme of online business I decided to tap the mind of Thomas Young for this week’s Entrepreneur University. Thomas Wood-Young, MBA, is a marketing consultant helping companies increase revenues. He is also the author of Intuitive Selling (www.IntuitiveSelling.com). Thomas shares with us his three keys to Internet selling success:

“Whereas successful selling in traditional brick-and-mortar stores is said to rely on “location, location, location,” successful Web sales rely on the three pillars of effective Web sites: design, marketing, and hosting. And like a table with three legs, a Web site needs equal support from all three.

Pillar I: Design Poor Web design will give visitors a poor opinion of your company and your products. With so many new businesses now offering Web design, it is important to choose a developer who can combine functionality and design to create a site that is visually simple, attractive, and easy to navigate.

Always design your Web site to reflect customer priorities. First find out what your customers want, and give it to them quickly. Make the user experience easy and fast.

This brings three common mistakes to mind:

Web design is often based on the mistaken idea that visitors to your site want to know more about your company. This is why most companies feature the “About Us” link first as a visitor reads the page. Actually, a customer is looking for a product or service that solves a problem. With this in mind, correct site design will highlight the information about your main products first and show your company information last for additional support.

Another common error is the use of impressive graphics without proper regard for user experience. Visitors are looking for information, not graphics. Graphics add loading time, so keep them to a minimum. A site will be an effective sales tool when you include all information your customers will need to make a buying decision.

Avoid forms that require unnecessary information. Seventy-eight percent of respondents in a recent usability survey have bailed out of filling forms because the forms required too much effort. Eighty-four percent abandoned programs that required too much information, especially home phone numbers or household income figures.

Pillar II: Hosting Integration of technology and design is crucial to the performance of your site as a sales tool. Web site functionality depends on efficient hosting and stable technology. This pillar includes all technical back-office details, from hosting to programming and newsletter list management.

Host your site on servers with sufficient bandwidth to easily and flawlessly handle your predicted level of traffic. Hire specialized database programmers to make your site interactive without a hitch. Purchase shopping cart programs that process sales efficiently and make it easy to buy. A good host will avoid down time, slow connections, interrupted service, and slow downloads to give your visitors a pleasant experience.

Pillar III: Marketing Contrary to popular belief, effective Web marketing does not require a large budget. Eighty-one percent of respondents to a recent survey admitted they had visited a site because it was advertised. However, their main influence was the Internet (61%), print ads (57%), and e-mail promotions (51%). Television, for instance, didn’t even make the top five. The secret to cost-effective Web marketing is finding low-cost to no-cost actions that reach your narrow, primary target market. Avoid expensive shotgun advertising to large markets not interested in your product or service.

Some of the most effective low-cost marketing tools include:

Listings on select portals and directories that draw traffic within your target group Search engine strategies to improve rankings on traditional search engines Strategies for pay-for-position search engines for immediate results Newsletters that reach your prospects monthly with helpful information Programmable autoresponders that deliver your message seven times or more Affiliate programs that encourage other sites to refer customers Take into account the three pillars of Web site success and reap the rewards of the Internet.”

This week’s Entrepreneur University addition comes from networking guru Dr. Ivan Misner. Dr. Misner is the Founder & Chairman of BNI (Business Network Int’l.). BNI was founded in 1985. The organization has over 4,200 chapters throughout every populated continent of the world. Last year alone, BNI generated millions referrals resulting in billions of dollars worth of business for its members. Dr. Misner shares with us his top 10 secrets to effective business networking:

Do you suffer from “butterfly-itis” at the very mention of networking at business functions? If you answered yes, you are not alone. Many entrepreneurs get a bit uncomfortable when it comes right down to walking up to someone and starting a conversation. Many others are concerned about getting effective results from the time they spend networking.

The process doesn’t have to be traumatic, scary or a waste of time. When done properly, it can truly make a difference in the amount of business your company generates. With the right approach, you can use it to build a wealth of resources and contacts that will help make your business very successful.

Use the following ten commandments to help you network your way through your next business networking event:

1. Have the tools to network with you at all times. These include an informative name badge, business cards, brochures about your business, and a pocket-sized business card file containing cards of other professionals to whom you can refer new business.

2. Set a goal for the number of people you’ll meet. Identify a reachable goal based on attendance and the type of group. If you feel inspired, set a goal to meet 15 to 20 people, and make sure you get all their cards. If you don’t feel so hot, shoot for less. In either case, don’t leave until you’ve met your goal.

3. Act like a host, not a guest. A host is expected to do things for others, while a guest sits back and relaxes. Volunteer to help greet people. If you see visitors sitting, introduce yourself and ask if they would like to meet others. Act as a conduit.

4. Listen and ask questions. Remember that a good networker has two ears and one mouth and uses them proportionately. After you’ve learned what another person does, tell them what you do. Be specific but brief. Don’t assume they know your business.

5. Don’t try to close a deal. These events are not meant to be a vehicle to hit on businesspeople to buy your products or services. Networking is about developing relationships with other professionals. Meeting people at events should be the beginning of that process, not the end of it.

6. Give referrals whenever possible. The best networkers believe in the “givers gain” philosophy (what goes around comes around). If I help you, you’ll help me and we’ll both do better as a result of it. In other words, if you don’t genuinely attempt to help the people you meet, then you are not networking effectively. If you can’t give someone a bona fide referral, try to offer some information that might be of interest to them (such as details about an upcoming event).

7. Exchange business cards. Ask each person you meet for two cards-one to pass on to someone else and one to keep. This sets the stage for networking to happen.

8. Manage your time efficiently. Spend 10 minutes or less with each person you meet, and don’t linger with friends or associates. If your goal is to meet a given number of people, be careful not to spend too much time with any one person. When you meet someone interesting with whom you’d like to speak further, set up an appointment for a later date.

9. Write notes on the backs of business cards you collect. Record anything you think may be useful in remembering each person more clearly. This will come in handy when you follow up on each contact.

10. Follow up! You can obey the previous nine commandments religiously, but if you don’t follow up effectively, you will have wasted your time. Drop a note or give a call to each person you’ve met. Be sure to fulfill any promises you’ve made.

For this special New Year’s Eve edition of Entrepreneur University we turn to marketing expert David Frey. David is the author of the best-selling manual, “The Small Business Marketing Bible” and the Senior Editor of the “Small Business Marketing Best Practices Newsletter. David shares with us his five step formula for getting new prospects to call you:

Are you tired of prospecting for new business?

Are you sick of networking, begging for referrals, or spending a small fortune on advertisements that produce little results?

Wouldn’t it be nice if you could just sit down at your desk and have the phone ring knowing that new business is on the other end of the line?

Who wouldn’t, right…?

The Secret Formula for Getting People to Call You No matter what product or service you sell, there is a formula for getting people to call you (instead of the other way around.)

Let me take a moment and explain each step in this formula and give you a few examples of how it works…

Step 1. Interrupt their train of thought People are busy, busy, busy. At any one moment you and I have a thousand things going on. So the first step to effectively market to someone is to interrupt them and grab their attention.

You can do this with…

a. Bold, compelling headlines b. Unusual graphics or photos c. Unique opening statements I run an ad in a trade mag in the most competitive section of the publication. But my ad sticks out like a sore thumb because I place it UPSIDE DOWN!

That ad pulls as much as a quarter page ad does and it’s only a tiny little 2′ x 2′ ad.

(By the way, if you want to see that ad and you have in interest in coaching you can find it in my Coaches and Consultants Marketing Bootcamp program.)

Step 2. Engage their mind with relevant content Once you have your prospects attention, the next step is to pull them into your message. The best way to do that is to use relevant content.

By that I mean, say something that they would be keenly interested in. For instance, I have no interest in cats so I would skip right over the headline, “How to Stop Your Cat from Ripping Your Couch and Carpet Apart.”

It’s not relevant to me.

But if I saw a headline that said, “The Deal Is Sealed…Shaq Gets Traded,” that would stop me in my tracks (I’m a basketball nut).

Your message must be relevant to your prospect.

Step 3. Educate them on how to solve their problem Now it’s time to educate your prospect. Education-Based Marketing is one of the most powerful marketing strategies available today and does a number of positive things for you:

a. It gives your prospect the REASON WHY they should care about what you’re saying.

b. It appeals to the prospect’s emotional need to solve their problem. (People buy with their emotions)

c. It positions you as the expert and someone to be trusted.

For instance, why do you think you find all those long, long salesletters on the net? Because they work! The more you tell the more you sell.

Step 4. Prove that your solution actually works People today are so SKEPTICAL. No one believes anybody anymore. Every marketing message is taken with a grain of salt.

That’s why you MUST PROVE what you’re saying is true. Proof can come through customer success stories, study findings, quotes from experts, before and after photos etc.

You have to consider yourself as being on trial and your prospects are sitting in the jury box. You’ve got to prove to them what you’re saying is true.

Are you proving your solution in your marketing efforts?

Step 5. Offer them additional help for their problem The last step is to naturally offer your prospect additional help. Up to this point you’ve only teased them. Now you must lead them to the next step.

The next step should be some offer for help. This could be a free report, a video, an audio program (notice that I like low cost information products) or a free catalog, or even access to a free question and answer help line.

If you want to decrease your response and increase the quality of prospects that come to you, you can charge a small fee to make the next step.

Case Study I used to do a lot of direct response advertising to generate leads for potential hot tub buyers.

I offered a free video to the respondents. We were getting a lot of leads, but many of them were from people who already owned a hot tub (if you can believe that).

So we simply asked for a shipping fee of $2.95 for the video and it cut down our leads but dramatically increased our closing rate.

How to Use this Process for Your Own Purposes You might be thinking, thanks David, but “how” do I use this information for my own business.

It’s simple…take each step and ask yourself these questions…

Step 1 - “What headline, photo, or gimmick can I use that would stop my unique prospect and make them pause for a moment?”

Step 2 - “What problem does my prospect have that is painful, ugly, dirty, and smelly?” When you have the answer to that question, use it in a headline, sub headline or opening statement to engage them in your message.

Step 3 - “How can I make the problem in Step 2 sound even worse and then how can I explain to them how my solution solves it.”

Step 4 - “What proof can I come up with that my solution actually works and has worked for many companies (or people)?”

Step 5 - “What offer can I come up with that would be so irresistible that my prospects would have to pick up the phone and call me immediately?”

If you ask yourself these five questions and can come up with some good answers then you’re well on your way to getting people to chase you down instead of you begging to steal a moment of their time. (Yuck!)

Have a great 2008!

Evan Carmichael

For this edition of Entrepreneur University we turn to marketing expert Thomas Young. Thomas is a marketing consultant helping companies increase revenues. He is the author of Intuitive Selling. Thomas shares his 12 tips on how to build word of mouth referrals for your business:

The most powerful form of marketing is word-of-mouth referrals. This is true regardless of the size of your company or marketing budget. When generating referrals, your customers become your sales force! Who better to promote your products than loyal customers? Following are 12 things you can do to help develop word-of-mouth referrals for your business.

Ask for Referrals The easiest way to generate referrals is also the most important. People want to help others, especially when you are good at what you do. Let your customers know that you are looking for referrals. They will be happy to oblige and some will go out of their way to help.

Be Specific Provide your referral sources with a few details about your target market. If you are not specific in your request, referral sources have the entire universe to think of and will generally not be able to think of anyone. Make your referral request specific.

Align with Your Customer’s Vision Get inside the head of your customers and align with their vision. Be a resource; understand the needs of your customers. Referrals will come when customers realize that you really do understand them and that your goal is to help, not just make money.

Develop Word-of-Mouth Marketing Promotions MCI’s friends and family promotion was tremendously successful and built market share for the company that has been the key to their growth. Develop a marketing promotion plan which encourages referrals and benefits your existing customers. Make the promotion worth your customer’s time by offering valuable incentives for new referrals.

Promote Client Feedback Ask your clients to evaluate your products and services and provide feedback on how you measure up. Share this data with current customers and new prospects. Obviously, correct the areas in which you are deficient and remove barriers to customer service.

Continue Self-Development Make your organization committed to constant learning. You must expand out of the box and constantly grow and develop your knowledge and abilities or you will be left behind by the competition. Knowledge is powerful and people will come to you for expertise before they buy from you.

Build a Customer Community Find ways to bring customers together with other customers. This might be a chat room on your web site or other customer events sponsored by your company. This brings a community of customers together and stimulates word-of-mouth.

Communicate Your Competitive Advantage Understand why you are different from the competition and what sets you apart in the eyes of the customer. Communicate this message in your promotional activities. Be clear in delivering this message. It is the most important component of your direct marketing efforts and the reason people become loyal customers.

Listen Become known as an excellent listener. This communicates that you care about others and builds an enormous amount of trust. The fact that you are the best listener customers know will be communicated to others and result in valuable referrals.

Build Alliances Determine how you can reach your target market by developing win-win alliances with other organizations. This is very common on the Internet as sites link to each other with great results. Look for organizations that currently service your target market and find ways to help each other.

Learn How to Network Properly Take time to learn how to network effectively. Establish a networking plan and plan on helping others, which is the key to successful networking. Read and learn more about how to network effectively and go to lunch with world-class networking professionals to ask them how they do it. They will gladly share all their secrets because that is how people network effectively.

Develop a Web Site That People Talk About Establish a web site that catches peoples’ attention. When web surfers come across a hot site, they typically tell others about it. It is very common to email web site links to friends. Find a way to make your site unique by adding value to your target market. This value is expressed in knowledge you can provide them to help improve their business operations or personal lives.

These are a few ways to build word-of-mouth referrals for your business. Remember, there is no quick fix in sales and marketing and no substitute for excellent customer service and valuable products and services. Take the time to strengthen your marketing efforts in these areas and watch the referrals come pouring in.

Evan Carmichael

For this edition of Entrepreneur University we turn to master networker Ivan Misner. Ivan is the Founder & Chairman of BNI (Business Network Int’l.). BNI was founded in 1985. The organization has over 4,200 chapters throughout every populated continent of the world. Last year alone, BNI generated millions referrals resulting in billions of dollars worth of business for its members. Ivan shares with us the top 10 traits that you need to become a master networker:

Networking is more than just shaking hands and passing out business cards. Based on a survey I conducted of more than 2,000 people throughout the United States, the United Kingdom, Canada and Australia, it’s about building your “social capital.” The highest-rated traits in the survey were the ones related to developing and maintaining good relationships. For years I’ve been teaching people that this process is more about “farming” than it is about “hunting.” It’s about cultivating relationships with other business professionals. It’s about realizing the capital that comes from building social relationships.

The following traits were ranked in order of their perceived importance to networking. They’re the traits that will make you a “master networker.”

1. Follows up on referrals. This was ranked as the No. 1 trait of successful networkers. If you present an opportunity, whether it’s a simple piece of information, a special contact or a qualified business referral, to someone who consistently fails to follow up successfully, it’s no secret that you’ll eventually stop wasting your time with this person.

2. Positive attitude. A consistently negative attitude makes people dislike being around you and drives away referrals; a positive attitude makes people want to associate and cooperate with you. Positive business professionals are like magnets. Others want to be around them and will send their friends, family and associates to them.

3. Enthusiastic/motivated. Think about the people you know. Who gets the most referrals? People who show the most motivation, right? It’s been said that the best sales characteristic is enthusiasm. To be respected within our networks, we at least need to sell ourselves with enthusiasm. Once we’ve done an effective job of selling ourselves, we’ll be able to reap the reward of seeing our contacts sell us to others! That’s motivation in and of itself!

4. Trustworthy. When you refer one person to another, you’re putting your reputation on the line. You have to be able to trust your referral partner and be trusted in return. Neither you nor anyone else will refer a contact or valuable information to someone who can’t be trusted to handle it well.

5. Good listening skills. Our success as networkers depends on how well we can listen and learn. The faster you and your networking partner learn what you need to know about each other, the faster you’ll establish a valuable relationship. Communicate well, and listen well.

6. Networks always. Master networkers are never off duty. Networking is so natural to them that they can be found networking in the grocery store line, at the doctor’s office and while picking the kids up from school, as well as at the chamber mixers and networking meetings.

7. Thanks people. Gratitude is sorely lacking in today’s business world. Expressing gratitude to business associates and clients is just another building block in the cultivation of relationships that will lead to increased referrals. People like to refer others to business professionals that go above and beyond. Thanking others at every opportunity will help you stand out from the crowd.

8. Enjoys helping. Helping others can be done in a variety of ways, from literally showing up to help with an office move to clipping a helpful and interesting article and mailing it to an associate or client. Master networkers keep their eyes and ears open for opportunities to advance other people’s interests whenever they can.

9. Sincere. Insincerity is like a cake without frosting! You can offer the help, the thanks, the listening ear, but if you aren’t sincerely interested in the other person, they’ll know it! Those who have developed successful networking skills convey their sincerity at every turn. One of the best ways to develop this trait is to give the individual with whom you’re developing a referral relationship your undivided attention.

10. Works their network. It’s not net-sit or net-eat, it’s net-work, and master networkers don’t let any opportunity to work their networks pass them by. They manage their contacts with contact management software, organize their e-mail address files and carry their referral partners’ business cards as well as their own. They set up appointments to get better acquainted with new contacts so that they can learn as much about them as possible so that they can truly become part of each other’s networks.

Do you see the trend with these ten points? They all tie in to long-term relationship building, not to stalking the prey for the big kill. People who take the time to build their social capital are the ones who will have new business referred to them over and over. The key is to build mutually beneficial business relationships. Only then will you succeed as a master networker.

Evan Carmichael

For this edition of Entrepreneur University we turn to business coach and marketing consultant Elizabeth Mullen. Elizabeth’s professional background includes an eclectic mix of professions and small businesses. Elizabeth shares with us how to tap into your natural motivation:

What would it take for you to run a marathon? Or complete that project you’ve been putting off? What would it take for you to clear off your desk, or start your dream business? What might you accomplish if you knew that your every action had multiple and far-reaching positive results?

Whatever your goal (or albatross), today’s idea is meant to assist you in attaining it by tapping your natural motivation to take daily action… and follow through to completion.

Most marathon runners I know, for instance, make their runs about more than speed and distance– they choose charities or causes to run for. This serves as leverage and a powerful motivator. But if you really asked even a casual morning jogger what is motivating him/her move forward, they may tell you that secretly they run for world peace, a loved one, or a principal…

It is to this level I wish to direct your attention. A woman I know, for instance, runs for world peace, another for the happiness of a troubled relative. Still other people run for “principals” like freedom or persistence, or ideals like making the world a better place. This is not only nice, but a powerful way to insure that they keep going. More importantly it gives the runner enjoyment along the way.

Running is but one venue where this principal works. Most people realize that doing anything for their own personal victory can get them to start the “race,” but rarely brings them to the finish. This is because as human beings, we are wired to be able to do more for others than we can for ourselves. Recognizing this, and utilizing it, is our natural motivation, and power and strength too.

So how can this principal energize your daily life? How can you use it to put yourself into movement right now?

Regardless of the task, the principal of “doing for” will empower and inspire action– so choose something that really juices you to MOVE! Maybe ironing can be about smoothing the tough spots in a loved-one’s life. Perhaps cleaning your desk can be a testament to the principal of simplicity. Maybe your housework can be about making the world a better place… Or getting in shape about shaping your community. What else would excite you to act? What else would make you feel good to take steps to that end?

So go ahead and try this: choose a task you’ve either dreaded, procrastinated, been afraid of, or simply must complete. Make it all about someone else… or something greater than yourself. Link up your thoughts and emotions with that greater goal.. and get moving on the ’smaller’ one.

(you just may find yourself getting much more than you bargained for…)

Evan Carmichael

For this edition of Entrepreneur University we turn to sales expert Will Turner. As President of Dancing Elephants Achievement Group, Will feels he has the best job in the galaxy. He loves working with salespeople and entrepreneurs to “unblock” themselves and “unlock” their potential. Will shares his secrets on how to close 80% of the prospects you meet:

In a recent seminar on doubling your income in 12 months, we asked a room full of salespeople, “What is the number one thing that salespeople do that kills their closing ratios?” The answers were all over the map and included responses like “not enough prospects” and “the wrong prospects.” While these definitely contribute to not reaching your sales goals, they were not the answer we were looking for.

The reason why most salespeople fail to have better closing ratios is that they ask the wrong questions. So what questions should you ask? Most salespeople sit down with a prospect and launch into “building rapport.” AAAAHHHH!!! Can you feel my angst with the written scream?

Why do you think I have such a gut-wrenching reaction to “building rapport?” Because that’s what average salespeople do? You don’t want to be average; do you? Building rapport is something most of us have been taught to do. But it’s so old school! Instead of building rapport which lacks depth and integrity, you need to start by building your relationships.

The way you build relationships is by asking the right questions. The right questions are ones that test for fit or compatibility and get to the truth without making assumptions or exerting pressure.

The first step in building relationships is to find out about the person you’re meeting. What are their values? What are their priorities? That doesn’t mean you ask point blank, “What are your values?” It does mean that you take the time to ask questions to find out about them. They will share their values in the answers they give you. For example, a great first question for a prospect is “How did you get where you are?”

The answer to that question will tell you what they value and what’s important to them. You’ll start to get a better sense of who they are. A follow-up question might be “Where are you going from here?” From this question, you’ll find out what they want. In other words, you’ll learn what’s important to them. Do they want more money? Or are they interested in having more free time?

By digging deeper and finding out what’s getting in their way, you’ll get a better understanding of their priorities. Then, you can move onto other questions, like “What’s going to help you get there?” The answers to these questions will uncover whether the person you are meeting with is a good personal fit with you. It takes you beyond “rapport building” to establishing a more meaningful and fulfilling connection.

Most salespeople skip straight from “building rapport” to some sort of needs assessment. What they fail to realize is because they have not truly connected on a personal level, the answers they get from their needs analysis questions are surface-level responses which are not enough to close the sale. You must move beyond the surface needs to the emotional wants of your prospects. By connecting on a personal level first through proper questioning and listening skills, you can gracefully move to questions designed to assess company fit, needs fit and ultimately wants fit.

The key to good questioning is seeking information without seeking the sale. In other words, you remove the sales pressure from the exchange which relaxes the prospect (and you) and allows your prospect to open up more freely. Then you can more accurately determine if the prospect is right for you and vice versa. Selling should be a mutual evaluation process.

By focusing on the prospect and not your product, you will ask better questions, get better answers and build stronger relationships. An interesting thing happens when you do this; your prospect will start asking you questions, usually about how you can help him. By asking the right question and assessing fit, your closing ratios and income will climb.

Evan Carmichael

For this edition of Entrepreneur University we turn to marketing expert Stuart Ayling. Stuart runs Marketing Nous, an Australasian marketing consultancy that specialises in marketing for service businesses. He helps clients to improve their marketing tactics, attract more clients, and increase revenue. Stuart shares his advice on how to get your clients to keep buying more and more from you:

A lot of effort is put into getting new clients. We all know our client base will change. Previous clients can move to a new area, sell their business, close down, or change their priorities. So finding new business is always important - but so is keeping your previous clients. Here are nine ways to keep previous clients coming back for more!

1) Provide exceptional service. Sounds obvious, but is very hard to do consistently. If clients believe they can’t do better elsewhere, they won’t succumb to the temptation of trying another provider.

2) Maintain your database. This can be as simple or complex as you like. Just make sure it meets the needs of your business. You must have suitable contact details, and preferably some measure of sales value. For example, I use email extensively with my clients, so having current email addresses is paramount. But I have clients who must use regular postal mail to communicate with their clients, as their clients do not widely use email. So postal address details are critical in their situation.

3) Use direct mail. This is your pipeline to future sales. Create regular opportunities to communicate directly with your previous clients, especially if your service has a long sales cycle. Keep in touch between purchase decisions.

4) Make special offers. Find ways to encourage previous clients to buy from you. Examples may be: package offers; time sensitive deals; introducing new services; pre-releasing information or products to current clients before the general public.

5) Run special events. Offer a free (or low cost) seminar to your clients on current issues. Invite complementary businesses, local business people, or celebrities to present new ideas. Use breakfast meetings, lunchtime executive briefings, or evening functions. The key here is to add value for your clients, outside of their usual dealings with you.

6) Write a note. Get a pen and write a personal message. This could be triggered by seasonal activities, birthdays, business events, or personal circumstances. Let your clients know you are still thinking of them.

7) Ring them up. Where possible get on the phone to previous clients and have a chat. Make it brief but meaningful. Keep posted on their current projects and priorities. Seek out ways you can help.

8) Promote your business. Demonstrate the value you can provide. If you have recently written a useful report, or presented a topic at a conference, or issued a press release, or conducted some research, or completed an interesting project, tell your clients about it. Don’t keep your hard work a secret.

9) Send reminders. Many businesses have the opportunity to offer ongoing services for previous clients. Send a reminder about servicing, maintenance, periodic reviews, or changes to relevant regulatory requirements.

Evan Carmichael

For this edition of Entrepreneur University we turn to marketing expert Michael Hepworth. Michael’s company, the StreetSmart Marketer’s business is developing tips, tools and techniques to help owners of entrepreneurial businesses rapidly increase their sales and profits while spending less time at the office. Michael shares with us his top tips for how to pick a product or service that will win in the market place:

I hate to be the bearer of bad news, but there are other companies out there that offer the same products or services that you do!

Of course, deep-down inside you know that, but do you act that way? What are you doing about it?

A simple fact of life; everybody is in competition with everybody else. This means unless you are better than your competition or at least equal to them you are in a dangerous position and you should probably get out of the business. This may sound harsh, but it is the reality.

I often say that the secret to being successful in business is that there is no secret. You simply have to do a lot of things well. Everything counts. Don’t be lulled into thinking that some things don’t count or are unimportant. They may be to you, but how can you be sure your customers and prospects feel that way? Every moment of truth either adds to the experience or takes away. Everything either helps or hinders. Nothing is neutral.

When you understand this you are beginning to develop the winning edge. In the Olympics, athletes win by millimeters and milliseconds. The same is true in business. Minute differences make all the difference when it comes to winning business. You’ll know when you provide the best value because people vote with their wallets.

So how do you improve to the point where your product or service is a winner?

The simplest way is by asking your self a series of questions designed to reveal real value.

1. What’s selling well right now in my market?

This information can be uncovered via search engines, trade journals, magazines, television, top 10 lists, and simply by listening and observing.

2. What’s missing from these products/services?

3. How can I improve my existing product or service to make it a winner?

Question 3 becomes a jumping off point for a whole series of questions you can ask yourself to improve your product or service.

+ What can we add to the product?

My last notebook computer had an external wireless card. This was a nuisance as it had to be removed for travel. My latest laptop, bought only a few weeks ago, now has wireless capability built in and then on top of that a whole lot of new features that I hadn’t expected.

+ What can we take away from the product?

Staying with my laptop, I now have a machine that is several pounds lighter than my previous one. How they achieved that I don’t know, but it certainly makes a difference.

+ Can we change the way people use the product?

People are now using exercise balls for office chairs to improve posture.

+ Can we change the market?

Once primarily a business tool, cell phones are now being offered as safety tools for young children.

+ Can we change the price?

Is there a way to make buying easier for our clients? Installment plans work, so do unbundled products.

+ Can we bring back something from the past?

The retro styling of the Mini Cooper and VW Beetle are perfect examples of this kind of thinking.

+ Can we alter the size?

Remember the days when a cell phone was the size of a brick? Now they are tiny little pocket devices.

+ Can we do creative things with colour?

My wife went into buy a cell phone the other day and came back with a bright pink one.

Over the next few days review your product or service against these criteria. Make them into a check list and each time you have a spare moment, spend some time thinking about how to create a winning product or service in your market place.

Evan Carmichael