Family Business Consultants » Family Business Consulting

Successful Business Consultants Have a Tight and Accurate Benefit Statement

admin — Wed, 15 Apr 2009 22:13:59 +0000

If there is a single, number one mistake we all make, it is not fine-tuning our niche tightly enough. It’s literally possible that if there are as few as 100 of your ideal target prospects in your normal marketing area – you will be able to achieve your goals for a lifetime of endless new business.

By now I hope you have invested time and energy considering precisely what your ideal clients look like.

Don’t spend another minute marketing yourself – until you can articulate exactly who you want to do business with. Will Rogers is quoted as saying that, “it doesn’t matter that you are making good time, when you are heading in the wrong direction” – so check your map (picture of your ideal client type) before you go speeding off toward oblivion.

After we have tightly identified our target audience we still face a huge marketing challenge. How can we quickly articulate the value we offer these targeted folks when we find ourselves in front of one?

If we can not describe our benefit in specific, tangible, and results oriented fashion – we won’t be around long enough to prove our uniqueness and value.

What we need is an “elevator” speech – a benefit statement we can blurt out in 15 seconds that will cause them to pause. When they pause we have their attention, which is all we want at this point, so we can take whatever is the next logical step in the process for us.

Your elevator speech can be your most powerful weapon, if you’ve done your homework – created the clear identity of your target audience so your statement of benefits will resonate with the people who are important to you!

Now your elevator speech will effectively get the attention of the people who are important to you, people you are uniquely positioned to serve. Perhaps more importantly it will just a clearly and quickly disqualifies everyone else.

In fact that is the key of an effective elevator speech. You want to disqualify everyone that does not fit your picture of your ideal client. No more wasted time with one-off clients, Every client leads you to the next and the next and the next, so it is critical that they all are taking you in the right direction.

There are more than enough high probability prospects out there to keep you busy in your niche. Don’t waste time and everyone the others.

The more efficient you get at disqualifying the wrong people, the better you will get at uncovering the right ones. Actually they will begin to identify themselves. And those people you meet that you disqualify, well some of them will become your greatest recruiters, going out of their way to tell the people they come across that you specialize in people like them and would it be ok if they gave you their name.

I have never seen anyone who has narrowed their niche too much. If you live in a small town and there are only a handful of people who represent your niche – that will do it. Each one of them knows other people just like them who live 20, 50, or 100 miles away. And we all know the credibility that automatically attaches to us when we are a specialist from afar.

And those people have more friends just like them.

According to the Columbia Books Directory of State and Regional Associations and Professional Societies there are 7,500 local chapters of organizations whose members share common interests.

After you have determined the true nature of the people you want to work with, check it out. You will find an association of them closer to you than you think. And the member just down the street nay hold the key to getting your message in front of them.

Fine tuning your target audience has other marketing benefits as well. For instance you can fine tune the places where you want your marketing message to show up.

For example a trade show appearance where each and every attendee is in your market. Everyone is a prospect and everyone knows you or they know somebody who knows you or they just might be standing beside somebody who knows you.

I know professional solution providers who focus 100% of their marketing efforts in this single way. They attend the annual association meeting of their target market. They “work the room” by being at the awards banquet, the breakout sessions, and they practically live in the exhibit hall during the event.

At the end of the week they have all the new prospects they need for the next 12 months – people they had never met before, people who were not ready for their services when they met them at an earlier event, and people they have been given a personal prestige laden introduction to by one of their existing clients.

By the way, how many new clients do you want in the next 12 months? How many prospects does it take to get them, if they are in your target niche and they understand your value proposition?

When creating your elevator talk, your 15 second description of your value proposition, remember it is all about them – what’s in it for them?

When you describe your offer speak their language, not yours!

If you are like most emerging professionals I meet, you suffer from the inability to provide your prospects with a description of what you do that offers them tangible, understandable, and specific benefits.

People will not pay money until they understand that what they are receiving is worth more than it costs, unless they are stupid. And you will not be able to make a living selling your services to stupid people.

It is 100% your responsibility to describe your value, answer their “what’s in it for me?” questions, whether stated or implied.

To help you do that I offer a formula that has worked for many people like you and me for years. I did not come up with it and neither did anyone who claims to have done so. I first heard it on a very old record by Earl Nightingale – one he created in the ’50s, and he gave credit to someone before him.

Use this formula to create as many specific elevator speeches as you need, in order to address the wants and desires of your niche and its subsidiaries. It goes like this.

“You know what it’s like when _____________?” “Well, that’s what I do.”

For example if your target is beauty shop owners, helping them through their many challenges – and you have just me such a person, perhaps at an exhibit of salon equipment at their annual meeting.

You might say, “You know what it’s like when you find you are paying more for shampoo than it costs your customers at the mall?” Well, that’s what I do. I help salon owners locate sources of products at below wholesale, turning a net cost into a profit center.”

The salon owner is interested in that!

No matter what you do and who you do it for, “You know what it’s like when _____________?” “Well, that’s what I do.” Will get their attention.

You can see how this formula can be used for whatever challenge your target audience has. If you have defined your target audience and spent the time to understand their challenges.

Your homework, create elevator speeches – 45 words or less, for every situation you are likely to come up against, and integrate them into your persona.

When you know them so well that your spouse can wake you up in the middle of the night from a sound sleep, and ask you – “What do you do?” and you answer them before you open your eyes, you’re ready for prime time!

Success comes from making better decisions. It’s that simple, not easy to do on your own however. In fact the most successful leaders among us, in every walk of life, systematically reach out to their hand-pick board of advocates and supporters for insights and advice.

You can have the same tools for creating your own strategic planning and marketing team, a no cost whatsoever. Simply go to www.StrategicConversations.biz and watch the five minute video. Once you join you will receive a powerful video series that will show you how to make decisions about the directions you take and the plans you make with greater confidence. It is 100% free, no strings attached.

Family Business Consultants Want To Help Improve Your Business

admin — Thu, 19 Mar 2009 00:50:59 +0000

Can Family Business Consultation Improve Your Business

Do you know what family business consultation is?

First let me tell you what it’s not: family business consultation is not therapy.

Instead of focusing on the past and all the problems of the family, he focus is on improving the function of your business (which may of course also improve family relationships).

We don’t go deep into your childhood or sibling rivalries. The results of this work are measured by improved business performance in the here and now.

In my work with family businesses, there are four components that I have found to be crucial.

These include managing conflict, succession, communication, and roles.

Manage Family Conflict

As part of a family business, you know how quickly conversations can degenerate into conflict. Arguments are more likely in a family business because family members are more comfortable with each other (and therefore less censored) than regular co-workers. Not only can workplace conflict hurt relationships among family members, it can reduce your credibility and professionalism with other employees.

To get better results and enjoyment from your business, you and your family can:

• Recognize the causes of business disagreements.

• Change the course of communication before conflict develops.

• Better understand family member’s views on business issues.

• Assertively state your thoughts and opinions.

• Develop a system for handling disagreements in a private office (not in front of employees).

Do you think you and your business will perform better with lower conflict? I bet so.

Plan for Change in Business Structure & Succession

Your business will eventually change over time. You may consider bringing on junior partners, promoting someone, or creating new titles and responsibilities for people. Family members, business partners, or investors may consider a change in the business structure. Planning for succession is a key component to the success of a family business.

To effectively plan for your business’s succession, you should be able to:

• Openly discuss issues related to succession.

• Learn how people really feel about taking over the business–don’t assume that your son or daughter really wants to or feels comfortable telling you how they truly feel.

• Address potential challenges to a new partnership or business structure up front.

• Anticipate family members’ and employees’ positive and negative reactions to changes.

• Ensure a smooth transition into your new business structure.

Enhance Family Business Communication

Many of the family businesses I have worked with surprised employees (and even me!) by how much they argue. In your family, it may feel normal to have disagreements or even a heated argument. It may blow over and no one is bothered much by it.

Even when this enters the workplace, it may still feel natural to you and you may not even notice

- but other people do. And it often makes them feel uncomfortable. Simple conflicts and communication difficulties can block your business’s ability to thrive. The good news is that these challenges are easy to address. Family business consultants helps to:

• Point out communication problems.

• Coach family members on developing new communication patterns.

• Establish regular times for family business members to have meetings.

• Make meetings more effective and efficient.

Clarify family member business roles

The fourth key point is role clarification. A common problem in many family businesses is that individual roles and responsibilities tend to get blurred. Have you experienced this? You and your family members step on each other’s toes and it isn’t clear who’s in charge of what or whom?

Business roles are different from family roles. This can become confusing – not just for family members, but also for your employees, and even customers. An absence of role boundaries often results in communication difficulties and conflict.

To have a thriving family business you need to:

• Clearly identify and label specific business roles for each family member and employee.

• Ensure that each individual is content with his or her business role.

• Outline job descriptions and responsibilities for each individual.

• Create clear roles for new hires.

• Establish the organization’s hierarchy and determine who reports to whom.

As a family business, you have a unique opportunity to thrive. In my experience, family businesses have more passion, creativity, and loyalty than the average business.

Once you harness these things and address the four components of conflict, succession, communication, and roles, your business will thrive. And on a final note, don’t forget to spend quality non-work-related time with your family members.

Larina Kase, PsyD, MBA, is a business psychologist who helps family businesses across the U.S. to survive and thrive. She was raised in a family business herself and has served as a family therapist.

Dr. Kase is regularly featured in media such as Inc. and Entrepreneur magazines, and The New York Times, and is the author of 6 books. Dr. Kase can be contacted through http://www.pascoaching.com

Article Source: http://EzineArticles.com/?expert=Larina_Kase

UIBC4 Kevin Aubrey Live Interview in Orlando on Small Business

admin — Sat, 18 Dec 2010 04:11:02 +0000

http://kevinaubreytoday.com | Live from Ultimate Internet Boot Camp in Orlando Florida. Interview with Kevin Aubrey on Small Business Management and balancing work, play, and family. Check out the interview and post a comment on Kevin’s blog page.

Duration : 0:3:53

Wealth Today 10152

admin — Fri, 17 Dec 2010 04:47:59 +0000

Marrying into a Family Business
Episode 152: Marty Carter, family therapist and expert in communicating about money, speaks with Professor Phil Cubeta about marrying into money and the potential challenges when an individual marries into the family business.

Duration : 0:5:27

Book Keeping 101 for Contractors

admin — Mon, 06 Dec 2010 04:16:00 +0000

If you’re thinking about contracting – or any kind of self-employment you’d better think about setting up your books.

Duration : 0:2:52

David Karofsky, Transition Consulting Group, Ltd.

admin — Fri, 03 Dec 2010 01:47:03 +0000

FFI member David Karofsky, president of Transition Consulting Group, Ltd., discusses the breadth of issues and opportunities ahead for business families and their enterprises.
Transition Consulting Group (TCG) facilitates the process of change that helps family and closely-held businesses successfully navigate the unique challenges that evolve when family dynamics merge with business operations.
As one family business consulting to another, their unique dual-generational approach helps ensure competitive sustainability of the family enterprise. When family members work with TCG to gain greater clarity and insights into troublesome issues, solutions emerge that meet the needs of the business and serve the family for generations to come.

Duration : 0:2:59

Paul Karofsky, Transition Consulting Group, Ltd.

admin — Wed, 01 Dec 2010 11:33:04 +0000

FFI Fellow Paul Karofsky, founder and CEO of Transition Consulting Group, Ltd., discusses the breadth of issues and opportunities ahead for business families and their enterprises.
Transition Consulting Group (TCG) facilitates the process of change that helps family and closely-held businesses successfully navigate the unique challenges that evolve when family dynamics merge with business operations.
As one family business consulting to another, their unique dual-generational approach helps ensure competitive sustainability of the family enterprise. When family members work with TCG to gain greater clarity and insights into troublesome issues, solutions emerge that meet the needs of the business and serve the family for generations to come.

Duration : 0:3:30

My family

admin — Sun, 28 Nov 2010 00:30:55 +0000

Motivation

Duration : 0:1:16

Family Business Secret – Addressing Family Business Planning Issues

admin — Tue, 23 Nov 2010 17:03:26 +0000

http://FamilyBusinessSecrets.com/ – Quite often business owners have too much of their wealth tied up in their business and NO exit plan. As well, they may be unnecessarily exposed to many risks such as death, disability, adverse tax consequences, loss of key employees, and lawsuits.

- Do you know business owners that only work IN their business, and never ON their business?

- Business owners take on too many responsibilities and waste a lot of time on activities they should delegate.

- Business owners take care of everyone else, before considering themselves and their future.

Business Owners have experienced a well-publicized meltdown in traditional financing. Now they want to know how they can prevent themselves from being vulnerable again.

So we’re teaching them, we’re educating them. They have enough facts to make the decision that they feel is best for them.

We solve these problems by creating Business Succession Plans that not only keep businesses going, but protect assets from being lost.

We teach business owners the “secrets” to maintaining and growing their business in a way that will help them succeed and keep in the family for years to come. Learn about a program designed to meet today’s business challenges.

Visit our website or contact Irving directly at 877-847-4952

Duration : 0:2:10

Family Business Secret – Predictable Profitably

admin — Mon, 22 Nov 2010 16:04:49 +0000

- Do you know business owners that only work IN their business, and never ON their business?

- Business owners take on too many responsibilities and waste a lot of time on activities they should delegate.

- Business owners take care of everyone else, before considering themselves and their future.

Business Owners have experienced a well-publicized meltdown in traditional financing. Now they want to know how they can prevent themselves from being vulnerable again.

So we’re teaching them, we’re educating them. They have enough facts to make the decision that they feel is best for them.

We solve these problems by creating Business Succession Plans that not only keep businesses going, but protect assets from being lost.

Visit our website or contact Irving directly at 877-847-4952

Duration : 0:2:34

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