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