Create A Velvet Rope Policy for Your Business

Would Prada be Prada if everyone owned some Prada? Well, not only would everyone be wearing funny clothes, but the brand would not have the same panache. Prada avoids brand devaluation by erecting a red velvet rope around their brand. They only sell expensive clothing to people who want to look like characters from Sex and the City.

In Book Yourself Solid, Michael Port advises using a red velvet rope policy that“allows in only the most ideal clients, the ones who energize and inspire you.”There is another reason to be selective about your customer base: brand value.

Over time, businesses tend to work with an ever-expanding universe of customers. The theory being the larger your customer base, the more money you can make. The casualty of this practice is a devalued brand. The red velvet rope policy says that you will treat your business with selectivity. You only unhook the rope for those customers whom you deem to be “more attractive.” A tighter, more restrictive customer base produces greaterbrand value.

How Your Brand is Defined
In the early stages of your business you define your brand through your mission, your vision and your brand promise. You then articulate your brand through a signature, or tagline. However, after being in business for a while, other dynamics are put into play: how you promote, what you sell, and to whom you sell. Yes, your customer base is part of your brand definition. Customers can enhance or jeopardize your brand value.

Picture in your minds eye, all of your customers. Pretend they are a big group of people gathered together in your parking lot. What do they look like? Are they just a big mass of seemingly unrelated personalities and lifestyles? If so, chances are your brand is undefined and nebulous.

Choose Your Customers
Most businesses could use some customer pruning. Don’t let so many people behind the rope. But you don’t have to tell customers to “stay away.” To begin with you need to map out an ideal customer persona. Keep in mind I’m not suggesting you work with fewer customers. I’m suggesting working with fewer customer types.

Who is it you best work with? You know, your dream customers. Write a list of people, qualities and characteristics. This is easy if you are professional services company and only work with 20 or so people. If you serve hundreds, or thousands of customers, sketch a composite description of your ideal customer. Once you complete this task, you can begin pruning customers by pruning products and services that don’t fit your ideal customer persona. Life will get easier.

Choosing to serve a select customer base strengthens the value of your brand. Such a policy will also focus your marketing efforts. The increased focus will allow you to narrow your promotional efforts with increased effectiveness. Who knows, you may find you can actually reduce your marketing budget simply by erecting a red velvet rope around your business.

About The Author.

James Lawson is President and Chief Strategist at The Capital Coaching Group Inc located in Fairfax, Va and is a multi-award winning business coach, speaker and sales trainer. He and his company help business owners with growth strategies, strategic planning, organizational development and time management issues and can be contacted via email at jlawson@advicoach.com or by calling 703-691-2299

Vision! Vision! Vision!

A Quote from Stephen S. Wise…

Vision looks inward and becomes a duty. 
Vision looks outward and becomes aspiration.
Vision looks upward and becomes faith.

Are you managing your business on a day-today basis, hoping that a little luck and smart decision-making your business will succeed? A good business surely needs a little bit of both, however, what if you wanted to be a great business? What does it take to get to the next level of performance in your business? Great athletes know what it takes to be an Olympian-quality performer. And so it goes that the high-performing businesses – those that are studied in business schools – also know and have something in common. They have a vision. A vision of where they see their company in two years, five years and ten years.

The nice thing about having a vision is that it gives you a visual. With strategic thinking and a solid implementation plan, you can begin to visualize your success at a different level. And when you can see it, chances are, it is achievable.

To help you create your business vision, putting some serious thought to what your Primary Aim is, is crucial to forming your vision. Your Primary Aim is your innermost driving force or the source of your vitality and your commitment. It is that which, more than anything else, gives you a sense of direction and purpose, motivates you to your highest levels of energy, and sustains you over the long haul. Once this is understood, you can then harness your Primary Aim to begin to create a remarkable business.

Another consideration and one that can have multiple benefits is visualizing how you see your business serving your community. Are you a green company? Do you have a product or service that can translate into supporting a need in the community like working with seniors or kids? Creating a strategic objective within your business vision of being a community partner will be rewarding both personally and professionally.

Now a vision is only as effective as it is understood within your business environment. If your employees don’t have a mental picture of the business you’re working to become, or your vision, how can they help you get there? This understanding can be transforming when it comes to motivating your employees, creating a customer experience that brings brand loyalty, and building a team that is unified and effective.

About The Author.
James Lawson is President and Chief Strategist at The Capital Coaching Group Inc located in Fairfax, Va and is a multi-award winning business coach, speaker and sales trainer. He and his company help business owners with growth strategies, strategic planning, organizational development and time management issues and can be contacted via email at jlawson@advicoach.com or by calling 703-691-2299

Big Dogs Expect To Win (So act as if)

When big dogs come on the canine scene all the other dogs sit up and take notice. If there is going to be a scrap, they all know that the big dog is likely to win.

Really BIG Dogs!

But sometimes you see a fierce mini pooch get into a dog fight and wipe out all the competition. This happens because the mini-pooch knows the Big Dog Code, and follows it! Whether you would characterize your company as a poodle or a Rottwieller, when you follow the Big Dog Code, you will find that you expect to win, too. Here are the "bones" of the Big Dog Code.

Big Dogs Howl at the Moon:

A full moon is the best promotional opportunity in the Big Dog calendar. No pooch worth its bones misses the opportunity to let loose and let everyone know it's around. Big Dogs bark first, bark loudest, and keep right on barking, long after all of the lesser mutts have abandoned the opportunity. Seek out as many platforms as you can to howl out the many reasons why your potential customers should sit up and take notice. There are many, and like the moon, many can come to you free of charge. seek out speaking engagements at key industry events and host or sponsor useful seminars for the industry associations involved in your marketplace. Look for opportunities to contribute articles to industry journals. When the Big Dog starts howling at the moon, the rest of the pack joins in eventually. All anyone remembers is the one who barks first, barks loudest, and barks consistently.

Big Dogs Don't Chase Cars:

Big Dogs don't wast their time chasing cars. They leave it to the mutts. They know that even if they catch the car, they wouldn't know what to do with it. Focus your efforts on chasing only opportunities providing a worthwhile return for your efforts. Before you start chasing prospects, be sure you know what to do with them once you catch them. Be sure its worth the effort. Chase only the prospects that have adequate need for you products or services, have the withwhithall to pay for them, and are likely to yield some kind of a profit. Don't get into the habit of chasing anything that moves. Leave it to the mutts. Keep calm. You can afford to be selective.....your a Big Dog.

Big Dogs Will Hound You Until They Get What They Want:

If a Big Dog sees a rival with a bone he fancies, he immediately goes after it. Nothing will stop him until it is his. Even if he's greeted with a snarl and a show of teeth, he'll withdraw a little, recompose himself, and come back again and again. Research shows that most big deals close after seven customer interactions, or more: the same research shows that most salespeople give up after a single No! Winning the best deals takes persistence. Be a Big Dog. Persist until you get the deals you want.

Big Dogs get To Know the Pack:

Big Dogs get to know more of the members of their own pack and of the other packs running in their area. A great benefit of all this sniffing around is that the Big Dog is the first to know if someone new moves into his territory. This kind of fearless networking is the key to looking like a Big Dog. Get out and about. make sure that you meet the maximum number of people in your area who might eventually be interested in what you have to offer. Find out who else is operating in your area. Get your nose right into their business and get to know what they're all about. The Big Dog knows everyone on his block - friend or foe. Network constantly.

Size Doesn't Matter if You've Got The Pedigree:

When your ina  situation where everyone knows you're not quite as big a dog as you'd like to have them believe, remember a key rule - size doesn't matter if yiu;ve got the pedigree.  Act like a thoroughbred. Be professional, adhering to a strict code of business ethics, and look after the important details.  That way you'll always get the Big Dog respect you deserve. Professionalism and ethics are key.

Follow the Big Dog Code, and everyone will assume you're a Big Dog. Do it because you know you deserve to win.

About The Author.

James Lawson is President and Chief Strategist at The Capital Coaching Group Inc located in Fairfax, Va and is an award winning Business coach. He and his company help business owners with growth strategies, strategic planning, organizational development and productivity issues. He can be contacted via email at jlawson@advicoach.com or by calling 703-691-2299

Why BIG Thoughts Rule!

I like it up here!

As a devotee of the Michael Port “Book Yourself Solid” philosophy I thought I would share this latest newsletter extract……

Hands down… bigger is better. No, not always. Not in the gas guzzling SUV sort of way. But when we’re talking about the super-fly thoughts that are traveling through your mind, yes bigger is better.Bring big thoughts front and center. It’s your mind that will change your life (and the world). When you think big, you’re large and in charge. Little known facts about big thinking… big thoughts are:

1. An Act of Abundance

To think big is an act of originality and creation, an act of abundance. When you think small, you resist your nature and create false scarcity. Big thoughts confirm the truth. You are more than enough. You will accomplish all you set out to. The world is yours for the taking. Grab it!

2. Embrace a Judge-less World

Bigger embraces. Big thoughts oppose the judging world. Let’s face it, we’re not here to judge or be judged. Imagine if you never accepted the limited views of others? That’s right! Your individuality reigns supreme. Big thinkers embrace their own uniqueness, innate talents and gorgeous gifts. You know you rock.

3. Collaborate and Foster Equality

Big thinking starts with (a) helping and (b) allowing yourself to be helped. People who play small think they have to do it all themselves. The truth is when you help another you break down false separations ? the “us” vs. “them” syndrome. We are all interconnected. True collaboration gives and accepts. It’s the most beautiful explosion of equality, respect, love and creativity. Try receiving as often as you give.

4. Expand and Accept

Bigger invites challenges. It expands your personal capacity and confidence. On the flip side, small thoughts crave pre-ordained outcomes. Sure thinking big can be scary and certainly when we fear the unknown, we crave control. But you’re daring. Accept control for what it is… a farce. See where your big thoughts take you.

5. Bring the Joy of Promises

Where’s the joy in making promises? The act of making promises is liberating. It gives you all the permission you need to do big things and make creative adjustments along the way. Take some breathing room while you are fulfilling your individual commitments. Let go of rigid outcomes. If you think it has to be perfect, you may never attempt to realize your big burning desires inside.

6. Foster Authenticity

Thinking big aligns the public and the private you. Your heart is free to speak the truth and authentic actions follow. Full self-expression is the height of big bliss and the start of accomplishing all you desire. Yowza!

7. Encourage Congruency and Integrity

Big thinking and living in integrity go hand in hand. To live without integrity is to purposefully diminish your chances of success. At the end of the day, integrity is all we’ve got. In today’s world, telling the truth might just be a revolutionary act. It doesn’t get much bigger than that.

8. Bring Grace and Fluidity

Thinking big is adaptive. It is not transactional. It allows us to connect to others, but not be attached. It allows our networks, friends, colleagues and even lovers to be fluid. In the flow of big thoughts we will truly flourish and draw the people to us that we are meant to – people aligned with our values and actions.

9. Combine Love and Accomplishment.

The combination of making yourself stronger combined with the process of love is the essence of thinking big. To love the process of what you do and who you are brings a lightness into your life (and the world). Love and strength are directly responsible for many of the biggest accomplishments.

10. Fuel Passion

It takes energy to get up and do big things. Thinking big is not only contagious it spreads like wildfire. It allows passion to course through your veins so you can live according to your hopes and dreams. It is universally the biggest and best thing you can do for your self and others.

Plus big thoughts make you blissfully beautiful while helping you accomplish all you desire. How big are you willing to think about yourself and how you show up in the world?

Would love to hear your comments....!!!

10 Ways To Beat A Down Economy

First, the big question: How have the markets and economic conditions impacted most firms? The answers are quite varied. Generally, there has been impact, sometimes significant, with volume dropping as much as 25 percent. However, some have seen their sales increase appreciably by focusing on new markets, and introducing new products and services.

From a global perspective, companies that are well positioned internationally are not experiencing the same level of decline. One company did ask all of its employees to take a cut in pay, but that is the exception.

The following represents a synthesis of the key strategies these senior executives communicated. While no one in the group is doing all of them, they do reflect where effort is being applied. We suggest you study them and reflect on them, but more importantly, act on those that are most relevant to your business. (More)

1. Be aggressive
The most pervasive strategy shared by executives is that this is the time to be aggressive. This is the time to be well-positioned no matter what economic winds may be blowing.
Taking share and stimulating a spirit of attack is the strategy many of these sales leaders are taking during these times. The entire organization, they say, needs to be focused even more passionately on growth. “Do not accept mediocrity” is a resounding message.

2. Protect your turf
The second most important strategy is protecting your position with those customers where you are entrenched. Many are providing customers with additional enhancements such as better terms, special programs and value offerings.
Some are conducting detailed business reviews to align their own strategies more closely with the customer’s growth efforts, and in turn, create an even stronger level of loyalty and interdependence.
Others are providing value by presenting their customers with a menu of available tactics to achieve the growth the customer seeks. Some are customizing menus to the channel being served – the more a program is customized to the customer, the better it is received.

3. Engage and leverage the sales force
Many believe these times represent an ideal occasion to re-engage the sales force. While some are using the time to re-examine the caliber of their talent, most are more provocative.
Many are giving the sales force a raise by introducing higher and more lucrative incentives for new account acquisitions; others are adding more salespeople in the effort to penetrate and gain share.
Most companies are placing pressure on poor performers. Dead weight will sink the ship in this climate.
Some are aggressively expanding the inside sales channel to mine where the direct sales organization is not able to focus.

4. Launch new products and channels
A common strategy being applied to open up opportunities in new or adjacent channels is to introduce innovative new products.
Some companies commit to stringent competitive analysis in order to prevent market share erosion.
Some are expanding or building aggressive Internet strategies to reach segments not traditionally covered by the sales force.
All are trying their best to focus on value and not on price.

5. Sustain promotional activity
Many firms are promoting more heavily and more aggressively; some are not doing anything special and, in fact, are even cutting back on promotions to protect margins. Many are changing their customer incentives so they are tied to incremental growth.
Requesting comprehensive product line reviews with customers is a proactive strategy by some to ensure the best product mix exists.

6. Challenge sales management
Few appear to be tapping into improving the productivity of the sales manager directly.
One organization is truly serious about improving the effectiveness of their sales teams nationally by appointing seven directors of sales force effectiveness.
Other organizations that are demonstrating leadership in sales management followed a variety of tactics to improve performance. They are:
• Helping their sales leaders coach more effectively.
• Keeping senior executives on the road, in front of the company’s top customers.
• Elevating the tracking of activity metrics and introducing score cards to focus effort and build accountability.
• Paying bonuses based on achievement of special promotions and objectives.

7. Develop accountability via better planning and execution
Companies that are serious about execution at the field level indicate this is one of their strongest strategies to drive growth. They challenge each salesperson to focus on seeking new opportunities.
Some are making the planning process more intense. The best establish accountability for developing the plan and working the plan.

8. Accelerate communications
Most leaders are staying in front of their salespeople and customers more actively than before.
Monthly call-ins and Web-based communications, frequent conference calls, and active contact with the entire customer base through product bulletins and frequency of newsletters seems to be the rule.
In all cases, the spirit is to maintain a positive disposition.


9. Focus on education
While many organizations that participated were not investing heavily in training now, a few see this slowdown as the best time to make education a priority investment in helping the salesperson differentiate himself/herself with customers.
Others see education now as the basis for building long-term employee loyalty and reaffirming their company’s commitment to the front line.

10. Focus on cost management (when appropriate)
Everyone is conscious about spending and cutting costs where needed. Many are being careful, as too much adjustment will impact long-term momentum.