Breakthrough Business Development E-Book

Duncan MacPherson

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Sprache: Englisch

Veröffentlichungsjahr: 2010

Beschreibung

Increase Profits, Be more Organized, attract a Higher Quality & Quantity of Referrals, Run Your Business so That It Doesn't Run You, Take Your Business to the Next Level... With Breakthrough Business Development!

Breakthrough Business Development shows you how to attract and keep great clients, while running a profitable and efficient business. It helps every knowledge-for-profit professional to maximize your most valuable client relationships, and to develop a personalized business development plan to mine the untapped potential in your business.

Praise for the Pareto System, Featured in Breakthrough Business Development.

"I am just beside myself on the results gathered so far from instituting the Pareto System. I use an agenda for meetings now and have formulated a standard package given to new clients. Already I have sent out twenty thank-you cards to new referrals. I even got a referral from a referral if that makes sense. Some clients didn't know that I was still expanding my business. I am also finding advocates that I didn't classify as such. Opening twenty accounts in this short time span is amazing but already I have another ten leads in the pipeline. You guys were right, it does work."

"We have been building client relationships for 45 years... Pareto Systems successfully helped us to pause and then guided us through the process of defining the appropriate business structure and systems which will strengthen and enhance our best client relationships. We are now focusing on a comprehensive, systematized program for select clients. The results have been amazing-client satisfaction is way up and so are revenues."

Leseprobe

Table of Contents

Praise

Title Page

Copyright Page

Dedication

PREFACE

Acknowledgements

Introduction

PART 1: - STRATEGIC ANALYSIS (WEEKS 1-4)

CHAPTER 1 - YOUR UNTAPPED OPPORTUNITIES

IDENTIFY AND TAKE ADVANTAGE

CHAPTER 2 - MARKETING PILLARS AND THE LOYALTY LADDER

IDENTIFY YOUR MVPs

THE LAW OF ATTRACTION

ADVOCATES: THE ULTIMATE CLIENTS

MOVING UP THE LADDER

POSITION ADVOCACY AS A BENEFIT TO CLIENTS, NOT TO YOU

CHAPTER 3 - YOUR OVERLOOKED VULNERABILITIES

THE IMPORTANCE OF ORGANIZATION AND STRUCTURE

MISTAKING MOTION FOR ACTION

SYSTEMS CREATE SUCCESS

CHAPTER 4 - THE CREATION AND BENEFITS OF A PROCEDURES MANUAL

THE FOUR Cs OF ADVOCACY

CHAPTER 5 - CLIENT CLASSIFICATION AND TRIPLE-A—AN IDEAL CLIENT PROFILE

GETTING STARTED

THE UPSIDE TO RIGHTSIZING

RESPECTFUL DISASSOCIATION

CHAPTER 6 - BUILD CLIENT CHEMISTRY WITH FORM

THESE FUNDAMENTAL STRATEGIES MAKE THIS APPROACH EFFECTIVE

GET ON IT!

PART 2: - TARGETS AND GOALS (WEEK 4)

CHAPTER 7 - SUCCESS IS ACHIEVED BY DESIGN, NOT BY CHANCE

GOALS ARE THE WHY; STRATEGY IS THE HOW

SOMETHING TO THINK ABOUT

PART 3: - ACTIVITIES: YOUR BUSINESS DEVELOPMENT ACTIONS (WEEKS 5-12)

CHAPTER 8 - ESTABLISH A CLIENT-CENTERED CODE OF CONDUCT USING DART

CHAPTER 9 - DESERVE

CREATE A CLIENT SERVICE MATRIX

STIR THE POT WITH A NINETY-DAY CALL ROTATION

CHAPTER 10 - ASK

ASKING STARTS THE RECEIVING PROCESS

ASK PEOPLE TO MOVE UP YOUR LOYALTY LADDER

STEP 1: ALWAYS USE AN AGENDA

STEP 2: HAVE NO HIDDEN AGENDA

SCARCITY CREATES ABUNDANCE

CONVERTING CUSTOMERS INTO FULLY EMPOWERING CLIENTS

BEING FORTHRIGHT IS REFRESHING—FOR EVERYONE!

FULL DISCLOSURE LIGHTS THE PATH

IS IT TOO LITTLE, TOO LATE TO USE FULL DISCLOSURE WITH EXISTING CUSTOMERS?

MAKING EXCEPTIONS: THE SLIPPERY SLOPE

ATTRACTING A HIGHER QUALITY AND QUANTITY OF REFERRALS

WHAT IS UNDERMINING YOUR REFER-ABILITY?

THE ADVOCATE REFERRAL PROCESS

TRAIN YOUR CLIENTS TO REACH OUT TO YOU

FRAME YOUR WAY TO SUCCESS

CHAPTER 11 - RECIPROCATE

CREATE PROMOTIONAL PARTNERSHIPS AND STRATEGIC ALLIANCES

LAUNCHING THE CAST INITIATIVE

IT IS WORTH THE EFFORT

CHAPTER 12 - THANK

WHEN SOMEONE BECOMES A NEW CLIENT

THE FIVE-STEP NEW CLIENT WELCOME PROCESS

SAYING THANKS FOR A REFERRAL: FEED THE GOOSE

GOOD BRANDING IS OUTSTANDING

IMPROVING COMMUNICATION IS KEY

A FINAL WORD BEFORE WE SHIFT FROM CLIENT-CENTERED MARKETING TO PROSPECTING

SHAMELESS PLUG FOR THE PARETO PLATFORM

CHAPTER 13 - PROSPECT TARGET MARKETING

ON TO PROSPECTING

AVOID SPRAY-AND-PRAY MARKETING

SPECIALIZE, DON’T GENERALIZE

AN INSIDER’S REPUTATION MAKES YOU STAND OUT FROM THE PACK

SO YOU’VE DECIDED TO SPECIALIZE…NOW WHAT?

CONVERTING PROSPECTS TO CLIENTS WITH AICA

GIVE THEM SOMETHING MEANINGFUL TO ASK FOR

GIVE PROSPECTS A BRIDGE TO CROSS

DRIP ON THEM

ADDITIONAL POINTS TO CONSIDER

FOUR MARKETING “DON’TS”

THE MOMENT OF TRUTH: THE PROSPECT OPTS IN!

ADDITIONAL PROSPECTING CONCEPTS

SHIFTING GEARS

PART 4: - REALITY CHECK (WEEK 12)

CHAPTER 14 - HOLDING YOURSELF ACCOUNTABLE

DON’T LET YOUR INTENT DIMINISH

THE QUALITIES OF SUCCESS

B.R.E.A.K.T.H.R.O.U.G.H. TO THE NEXT LEVEL

ALL SYSTEMS GO!

ACTIONABLE TEMPLATES ARCHIVED ON WWW.PARETOPLATFORM.COM

ABOUT PARETO SYSTEMS CUSTOMIZED COACHING AND CONSULTING SERVICES

PARETO PLATFORM SPOTLIGHT

A CALL TO ACTION FOR COACHES

LOOKING FOR HELP WITH IMPLEMENTATION?

INDEX

Praise for the Pareto System, Featured inBreakthrough Business Development

“I wholeheartedly recommend the Pareto System to anyone who seeks to improve their business and position themselves as the advisor of choice. The Pareto System helped me get results by systematically taking my practice apart and putting it back together in a way that created, and will continue to create, raving fans. Furthermore, I have been able to systematize my practice, which has created more time for me and my family. The service provided was excellent. The program is of great value and was totally worth my investment.”

Victoria, British Columbia

“The personal coaching of the Pareto System has given me a very effective client-centered process. This system has vastly improved my professionalism, my presentation skills and my client delivery. I believe Pareto has enhanced my ability to (1) develop and maintain a long-term, trusting relationship with my clients, and (2) grow my practice with an improved quality of clientele. More importantly, this system holds us accountable to follow a process that facilitates the realization of clients’ goals.”

Chicago, Illinois

“Our service levels have made a huge difference in the level of our client satisfaction. It has helped to increase client loyalty because clients know what to expect from us now and they also are more comfortable referring us to friends, etc. For example, we have had a client for several years and we did not know her at all. Since we met with her and completed the Personal Financial Policy Statement (provided by Pareto), she has transferred in over a million in assets and she could not be more appreciative of our efforts. She has quickly become one of our favorite clients and she is singing our praises and trying to find us a suitable introduction.”

New York, New York

“Pareto has revolutionized my business. They have given me a much greater understanding of the elements of a successful practice. They have assisted me in implementing these elements effectively, particularly in those areas where my existing attitudes and fears got in the way. The coaching program made all the difference. I strongly recommend Pareto to anyone who wants to feel that they are running their business and it is not running them…Thanks for the help!”

Edmonton, Alberta

“I’ve received such a positive response from our event held last Thursday that I’m beginning to wonder how I will top it next year! Your presentation was most certainly a highlight of the day for everyone in attendance. After listening for two hours, I’m sure there was not one [who] could claim leaving without a new idea or simply a new-found enthusiasm to put to use in their business.”

Denver, Colorado

“We have been using the Pareto Systems program for the past three months. Although we have not completed the entire program (we’re about two-thirds through), we have already seen significant improvements in our business in this short time. Since we’ve started the program, we were referred and have transferred in both a $2,500,000 client and a $1,000,000 client. We’re also in the process of meeting with and transferring in several more qualified referrals. Of course all of the new assets are a great benefit; however, the most important benefit of going through this program is making our business run a lot more efficiently in the long term. We are already seeing that our time is used more efficiently in the office (we still have room to improve on this) and that our clients are enjoying a significantly higher level of service and consistency. If two people of very average intelligence and charm (my partner and me) can make this work, most advisors certainly could very well do the same. Thanks again for your great follow-up and tremendous support!”

San Diego, California

“From a Wholesaler’s standpoint I couldn’t imagine running my business without a process in place like Pareto’s. The ability to focus my attention and have procedures in place has allowed me to put a foundation in my business that gives me ample room to grow. Thanks again!”

Carmel, Indiana

“I’d like to thank everyone at Pareto for a great consulting experience. I’m no stranger to coaching…but I have to say that the Pareto System is the most practical and useful coaching program I have seen or experienced. In particular, the concept of systematizing client and office processes to ensure a consistent, world-class experience is very powerful. It’s an idea that’s intuitive but much more easily said than done. I think you have made ‘doing it’ as easy as it’s going to get! Thanks again.”

Gold River, California

“I began working with Pareto Systems one year ago. The immediate impact on my business was tremendous. By the end of the year, I had experienced my best production month, and I had established myself solidly with a number of new clients. The Pareto System has been of inestimable assistance to me during difficult times [when] my goal became one of keeping existing clients. Incorporating the principles of the Pareto System has resulted not only in client decisions to stay with me, but to also bring additional assets to their accounts here. The Pareto System is a unique program…Thank you.”

Hampton, Virginia

“Dear Pareto, There is no question that your system is the finest I have ever used. I feel as if I have taken the first steps up Mount Everest. My team and I also want to discuss the possibility of having the full treatment (customized consulting) sometime in the not-so-distant future. Thanks for all the updates.”

St. Louis, Missouri

Copyright © 2007 by Duncan MacPherson and David Miller

All rights reserved. No part of this work covered by the copyright herein may be reproduced or used in any form or by any means—graphic, electronic or mechanical without the prior written permission of the publisher. Any request for photocopying, recording, taping or information storage and retrieval systems of any part of this book shall be directed in writing to The Canadian Copyright Licensing Agency (Access Copyright). For an Access Copyright license, visit www.accesscopyright.ca or call toll free 1-800-893-5777.

Care has been taken to trace ownership of copyright material contained in this book. The publisher will gladly receive any information that will enable them to rectify any reference or credit line in subsequent editions.

Library and Archives Canada Cataloguing in Publication Data

MacPherson, Duncan, 1965-

Breakthrough business development : a 90-day plan to build your client base and take your business to the next level / Duncan MacPherson, David Miller.

Includes index.

eISBN : 978-0-470-73997-6

1. Marketing—Management. 2. Sales. 3. Business planning. 4. Knowledge management. 5. Success in business. I. Title.

HD30.28.M.8 C2007-903701-1

Production Credits

Cover design: Jason Vandenberg

Interior text design: Tegan Wallace

Wiley Bicentennial Logo: Richard J. Pacifico

Printer: Quebecor - Taunton

John Wiley & Sons Canada, Ltd.

6045 Freemont Blvd.

Mississauga, Ontario

L5R 4J3

Printed and bound in the United States of America

QW

To our families

PREFACE

After a successful multi-year strategic alliance between our two original firms, Duncan MacPherson & Associates and Mindset International, we decided to formally combine our strengths by establishing Pareto Systems in 2000.

We called our company Pareto Systems because of our fascination with the many layers of the Pareto Principle and how they impact an entrepreneur. Also known as the eighty-twenty rule, the Pareto Principle suggests, for starters, that approximately eighty percent of an entrepreneur’s business is generated by about twenty percent of his or her clients. Our objective has always been to help entrepreneurs predictably attract and keep clients like those in the twentieth percentile while creating a precise and efficient business in the process.

Because of our fixation on predictable execution and quantifiable results, our business development and practice management coaching and consulting services grew steadily. In 2003, we unveiled the Pareto Platform, a one-of-a-kind business-building solution that integrates time-tested best practices with a turnkey, Web-based Client Relationship Management (CRM) system. Today, entrepreneurs and their teams from a variety of sectors in the marketplace use the Platform every day to consistently manage and maximize their client relationships while deploying our tried-and-true concepts and procedures. We haven’t looked back since.

It’s funny how the word “entrepreneur” conjures up different meanings for different people. Some people think it’s a French word for someone who works at home in their underwear (that would make for a strange Casual Friday if you think about it). Others think it describes someone who can’t hold a real job or is a dreamer or serial opportunity-chaser. In truth, an entrepreneur is someone who likes autonomy and has a vision for how to bring value to clients. They are hard-working, persuasive, dedicated, motivated and resilient. Rather than simply have a job and make some money, they want to build something that is worth a lot of money while maximizing their personal fulfillment.

As you are about to read, we are going to walk you through our process, which will enable you to take your business to the next level and ultimately experience a breakthrough. Like any book on this topic, there are countless ideas to be found in these pages. Unlike a lot of books on this topic, you can rest assured that everything we suggest has been proven to work. Not a single concept is theoretical or on trial. Everything has been time-tested by ourselves in our own business and by the coaching and consulting clients who have hired us over the years. The success stories we’ve seen first-hand from our clients have often been staggering. In one recent example, an already extremely successful new client decided to simply implement our process to attract referrals from his clients. After three months of refinement and mastery, this client generated more new business in one month of actual implementation than in the entire previous year!

But it doesn’t stop there. While most authors tell you why you should be using their ideas and concepts and sprinkle in the occasional hero story like the one we just gave you, we won’t leave you hanging like that—we’ll also show you how to implement our ideas. After all, you read a book to get better results, not just ideas, right?

On our website, www.paretoplatform.com, you will find the seventeen turnkey, actionable templates for the core ideas we describe in this book. You and your team can download these proven strategies for free and implement them to translate these concepts into results. Furthermore, you can register to receive updates and visit our blog, which we update on a regular basis. Check www.breakthroughbusinessdevelopment.com often to get up-to-the-minute insights.

At the risk of belaboring the point, a lot of people tell us that they like our ideas and creativity. We aren’t creative. Any appearance of creativity stems from our ability to simply conceal our sources.

All kidding aside, the feedback and results achieved by our clients over the years act as an ongoing stress-testing mechanism that you can rely on. So strive to implement the ideas you like, ASAP! We say that because we believe the value of reading a book begins when you are finished reading it. If you can execute the relevant concepts quickly and quantify the impact, well then, reading this book will have been a good investment. Just don’t delay. You’ve heard the old saying, “After all is said and done, more is often said than done.” Don’t let the Law of Diminishing Intent rob you of the value of what’s in here.

Duncan and David

ACKNOWLEDGMENTS

We have many people to thank for helping this book become a reality.

To our many clients over the years—both individual and corporate—we’ve learned as much or more from you as you have from us. Your efforts and contributions are greatly appreciated.

To our head of consulting at Pareto Systems, Tom Frisby, thanks for your tireless commitment and unwavering loyalty. You and your team have helped take our business to the next level.

To our head of technology at Pareto Platform, Darren Hennessey, thanks for your outstanding vision and execution and your never-ending commitment to continual refinement. Our clients run better businesses and lead better lives thanks to you and your team.

To our entire team of consulting, technology and support staff, your dedication has been invaluable and has enabled us to focus on crucial business development projects such as this.

To our various mentors and to all the practice management and business development gurus we’ve worked with—especially Mr. Jim Rohn—thank you for your important contributions. Our business acumen and our personal lives are richer because of your countless insights.

We’d also like to thank the exceptional crew at John Wiley & Sons, our publisher. Your professionalism and support have helped make this project a pleasure to undertake.

And finally, we would like to thank our wives and children. If ever the expression “Behind every successful man is a shocked and amazed woman” applied, it would be with us. And we’d be remiss if we didn’t say we are both incredibly proud fathers of great kids.