Make Your People Right

Make Your People Right

How do you hire?

 

Do you attract top Ivy League Talent?

or…

Do You Do This?

 

One of the fastest growing companies from 2000 to 2010 was Polaris out of Roseau, MN. I once attended a key note by a Harvard professor / consultant who went up to interview their CEO. As he was in Roseau he was puzzled on how they got top Ivy League talent to come work for them.

 

Funny how a Harvard guy assumes the best businesses are started by Ivy League educated people. The best businesses I come by are bootstrapped from hard working people who have education, but typically not Ivy League, but I digress to prove my point. 😊

 

So the naive professor asked…

“How do you get top Ivy league talent to work in Roseau?”

The CEO laughed and went on to tell the Harvard professor to go

spend a couple days in Roseau and come back with better questions.

 

After a couple days the Harvard professor came back and said…

“You don’t get top Ivy league talent in Roseau. How did you find

great talent to build, grow and make Polaris one of the fastest

growing companies?”

 

The CEO responded…

“You can’t worry about hiring the right people. You have to make

the people right.”

 

As we are a fast growing company at LBS, Matt Linklater and I discuss this daily…

 

There are two absolutes that you need to do to “Make Your People Right.”

 

#1 – You need to train your people.

This doesn’t have to be costly and it doesn’t have to be feeding them by

a firehose when they start. The key is constant improvement over time.

 

#2 – Prime them daily.

You need to be responsible for the state that your employees are in on a

daily basis. Think about it when they come to work they probably already

had a full day. They were either fighting with their kids and spouse or at

the minimum were running around in a hurry. Coming to work is there

moment to chill!

 

You need to create an atmosphere that fosters a team effort accomplishing

a mission and you need to create an environment daily to push them into a

peak performance state. One way is to have a morning meeting and huddle

to get everyone on the same page.

 

No matter what you do it’s your decision everyday to….

 

“Make Your People Right.”

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Always Providing Value

Always Providing Value

How do you bring on a new client?

 

There are 2 things I hear from business owners consistently.

#1 – They do work for free when brining on a client to demonstrate

Value and then the client never signs on the dotted line.

#2 – They do the actual work for the client and the client complains

about the price.

 

What is your formalized strategy to bring on a new client?

As Matt Linklater would say, “Your strategy needs to follow

a 3-pronged approach…

#1 – Find pain points

#2 – Demonstrate value

#3 – Close

 

Now I’m not replacing the ancient 5 steps sales process or the ideas

of starting with “WHY” or any other fancy strategies out there, but

want to offer a simple solution to bringing on a client, not doing work

you’re not getting paid for and not delivering work your not getting

paid for.

 

Here is a simple formula…

 

First Meeting

#1 – Gather information around the clients pain points…

What are the biggest 3 things you’re trying to accomplish?

What are the biggest 3 challenges getting in your way?

Etc. – fill in your specific questions here

#2 – Demonstrate a little value.

 

Second Meeting

#1 – Confirm pain points. Get them back in the state of their problem.

#2 – Demonstrate how you can solve their problem. Never show them

how they can solve their own problem.

#3 – Close

 

You can either close on this meeting or set up a 3rd meeting. Depending

on the price tag and the level of trust that needs to be formed depends

on when you can close.

 

Yesterday we requested a meeting with someone to identify synergies.

The guy wen through a scripted presentation that irritated me then

tried to close me on $10K. He was a little pre-mature.

 

Third meeting

#1 – Confirm pain points.

#2 – Demonstrate value.

#3 – Close

 

The biggest thing on the 3rd meeting is don’t let too much time go by.

The other thing is never assume that they remember anything from the

previous 2 meetings.

 

No matter if you have a relationship with your client or it’s a new

client that you’re solving a problem for you always have to…

#1 – Understand the pain points

#2 – Demonstrate value

#3 – Close before you start doing the work

 

Put a process in place and you will do less work for free and reduce

the amount of times you get your invoice rejected.

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Vanished Into Thin Air…

Vanished Into Thin Air…

Do you have a referral Process?

 

I was recently sitting down with a firm in Texas…

I asked them how they get business?

The response was mainly through referrals.

 

Obviously, that is an awesome testament to any business to thrive off of referrals means you’re doing something right.

 

My next question was…

 

What is your process?

This question was met with a very fragmented answer about their process.

They said we get an email. We follow up with that email.

 

I continued to ask…

How do you follow up?

What is in that email?

How many times do you contact them through email?

Do you call them?

 

My concern is that most people have this type of answer. The main sales funnel they have is through referrals, but they don’t have a formalized process. The problem without having a formulized process is you’re leaking these referrals and prospects.

 

A sales funnel and referral process in this case needs to have a formal structure that is repeatable and successful. You don’t want to leave it up to chance.

 

Here is a simple process….

#1 – Activate the referrer

– This means get the referrer to acknowledge that you have a great service or product.

#2 – Script the referrer

– Get them to tell you what they like about your services or products?

#3 – Ask for referrals

#4 – Tell them how they should introduce you

– Use the script from #2

#5 – Follow up with the referrer

– Make sure they are making the introductions.

#6 – Follow up with the referral

– Send out an email you would send out to a new friend or a friend.

– Keep it short, provide value and make it easy to set up an appointment.

#7 – Keep adding value until you secure the appointment

– Put them in a follow up sequence.

#8 – Follow up with the referrer

– Give them a gift for their efforts.

 

You need to have a process that has standard operating procedures (SOPs). When you have SOPs you can always adjust to the different variables that come along the way. You can also automate a lot of these processes through you Client Relationship Manager – CRM.

 

The key is to remember…

The fortune is in the follow up!

 

Most sales, depending on the level of trust that needs to be conveyed between you and the prospect, take somewhere around 16 touches to close business.

 

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Your Peace of the Pie

Your Peace of the Pie

It’s not money itself that we’re thankful for, but we’re attracted to the peace of mind that it creates and the control of time that it delivers.

 

Regardless of your perspective and the value you place on money there are four ways to make money to satisfy our personal needs…

  1. Earn it as an Employee working for someone else.

  2. Earn more by becoming a Specialist and running a small business.

  3. Grow it exponentially through expansion becoming an Entrepeneur.

  4. Become a Professional Investor.

Like most decisions there are responsibilities and consequences that accompany the way you choose to earn your peace of the pie. It’s probably safe to say that most of you are comfortable with the way you earn it. If you want to make more money you can certaintly stay in your comfort zone and work longer hours or figure out how you can keep more of your money. Unfortunately, if your an employee nobody can help you with the latter unless you decide to start your own business.

 

Whichever way you choose there are annual tax consequences…

 

Employees pay 40% on average in taxes

Specialists (Doctors, Attorneys & Accountants) pay 50% on average in taxes

Entrepreneurs pay 20% on average in taxes

Professional Investors pay 5% on average in taxes

 

If you are a Specialist you have Four Choices…

work more hours to earn more pie – Grind

work the same hours and learn how to keep more of your pie – Tax Plan

work less hours and find the right people to partner with – Expand & Grow

work when you feel like it while you watch your investments grow – Invest

 

Whether you’re content to stay where you are and pay 40% in taxes or have aspirations to climb the Entrepreneur Ladder and pay 20% in taxes it’s a non-negotiable to enlist the right partners, right tax plan and right mindset.

 

The right partner encourages growth…

The right tax plan looks to the future…

The right mindset isn’t concerned with fear…

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Treat ‘Em Like Family

Treat ‘Em Like Family

Whether we agree, disagree or agree to disagree it doesn’t matter if we’re all on the same TEAM or better yet the same FAMILY.

 

The concept of TEAM has been around for decades and has permeated itself into every nook and cranny of mainstream life. So much so it has become stale and overused that it has been replaced by the FAMILY concept. Well at least in the case of the highest performing companies and sports teams.

 

Who are you more willing to sacrifice for?

– a teamate

or

– a family member

 

It’s an absolute no brainer… Family First!

 

So, why don’t the majority of leaders endorse the FAMILY concept?

 

Here it is… are you ready for it? FAMILY immediately demands that the leaders be there every day for their people. This actually scares the crap out of them. As they prefer to focus on the immediate results mantra… “what gets measured gets done”.

Produce or show them the door!

 

Having this singular focus is sad as it grossly underestimates the impact that their consistent and present influence can have. A leaders mere presence holds people accountable without them even knowing it. Knowing that their leader is in the trenches with them, more of them will play full out.

 

I know what your thinking… I’ll hire talent that already has a history of playing full out!

 

Keep me posted on how much turnover that creates?

 

Yes it’s true, you can get lucky and find this rare combination of talent and loyalty through recruiting, but it will never have the same impact and consistency as developing it with an inside out approach vs. an outside in approach. It’s not about getting the right people, it’s about making your people right!

 

An inside out approach develops a bond of mutual respect that thrives day in and day out. It creates a unified front or FAMILY feel that’s almost impossible to break. Whereas an outside in approach breaks down after the honeymoon period because you have taken their skill set and loyalty for granted.

 

If you want exponential growth, YOU, as the leader have to get comfortable with this concept…

 

In the beginning, YOU will always want it more for YOUR PEOPLE than they want it for themselves!

 

When you see the light bulb turn on in one of your Family members it will be the best experience of your life. Remember, it’s not about taking credit for their breakthrough. But, to feel proud of the influence that you had and celebrate with them.

 

WE ARE FAMILY!

 

CAUTION: If you’re part of a team, lead a team or enlist the services of one that still uses outdated terms like colleagues, co workers or clients to refer to their people then its probably time to start looking elsewhere.

 

THE LBS FAMILY

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Contact

Phone

Tel: 312-330-5094

Email

Todd@LinkBizSolutions.com