When No One Answers
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Everyone has experienced it. Someone calls you prospecting for business. You get a message on your voicemail, you get a card or letter in the mail, and sometimes it is something you are interested in getting more information about. So you return the card, send an e-mail, or pick up the phone. Then you wait. And wait and wait.
Recently several business associations have been sending letters, e-mails, and making phone calls to get me to join. Several of these groups are ones from which I requested information or where I attended an event held for prospective members. I received their information packet and/or a phone call. I read the materials and want to talk to them. I called. I called. I left messages. I e-mailed. I waited… I have now moved on to something else. (This example but applies equally to for-profits and not-for-profits.)
Business associations are just like regular for-profit businesses. They need “customers”. They may call us members, but make no mistake – we are customers. As business professionals, business owners, and business leaders, we don’t have time to deal with organizations that are lackadaisical. These organizations may be not-for-profit, but they aren’t non-profit. What’s the difference? Well, to my mind non-profit means that there is little intent to “run the business”, to apply the basic tenets of business to an organization created for a purpose other than making money for shareholders. Not-for-profits run the business and pay attention to the details.
Not-for-profits realize that building the membership base requires follow-up on calls, messages, and e-mails. It means that if you are fortunate enough to get a prospective member (customer) to contact you, then you don’t want to do anything to lose the prospect BEFORE you talk to them.
It’s not just the business associations. Businesses experience “No One Answers (NOA)”almost daily.
NOA means time and money lost for your business. You have potentially lost a customer and a sale if your organization regularly delivers NOA. If your vendors are NOA, then it is costing you time, resources, and possibly business if their NOA ripples through your organization’s operations.
A client recently told me that the biggest NOA offenders are his CPA and his attorney. They seem to be competing to see who can go the longest without returning phone calls or responding to his e-mails.
What does NOA signal to your clients, customers, colleagues, and strategic partners? Here are some possibilities:
- Your business isn’t that important to me.
- I have other priorities and can’t be bothered.
- I have other clients who are a higher priority.
- I’m disorganized.
- My business can’t deliver, because I can’t even get information and call you back.
- Just keep trying; you might get lucky…after all someone eventually wins every lottery.
Certainly you get the point. When no one answers, opportunities are missed. It doesn’t mean you have to sit by the phone, invest in administrative support, or be at the beck and call (no pun intended) of your phone and your clients and prospects. It does mean that you need to be organized and conscientious in getting messages, returning calls, and responding to e-mails. It may mean setting aside an hour every morning and/or evening to make sure you return calls and answer e-mail. It may mean you look into temporary or virtual administrative support. What it has to mean is making operational changes to make sure you aren’t wasting your marketing efforts and losing business due to disorganization or inattention. If you are investing in getting customers to call (and who isn’t), then making sure you answer is a simple step to take.
Self-Analysis - Knowing When to Change
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In building your business, you will come to rely on many different people to fulfill roles in your business and as advisors and "coaches". The relationships you build are critical to your success. If these same relationships aren't capable of evolving, however, they can become impediments to that success.
All too often healthy business and professional relationships become dysfunctional. The people whose advice and expertise were just what was needed in the beginning may not be the "muscle" we need to expand and grow the business. Different stages of our own and our business's development require us to step away from the comfortable and routine to find other advisors and key organization members and different ways of doing things.
It is human nature to resist uncertainty and to embrace what is known. The familiar patterns of our lives provide security. In business, we fall into the same behavioral patterns - we like doing what we know; we dislike the uncomfortable, the chaotic, the need for change and doing something differently.
A colleague frequently says that to expect different results from the same behaviors isn't logical, but it is human. If you aren't seeing the financial results you want in your business, then it is time to step back and take an objective view (as much as possible). When you step back, look at these key areas:
• Who are you seeking advice and counsel from?
• What is their on-the-ground experience?
• What is their level of "self-interest" - how will the advisor be impacted by doing something differently?
• What do you know about the financial performance you want versus where you are today?
• Do you have the customers, but not the pricing you need?
• Is your price all the market will allow and you need to look at your operational costs?
• How consistent is your internal and external vision of your business?
• Are you doing the business the way you wish instead of how the customer needs you to do it?
One of the biggest challenges you will face in running your business is being comfortable with acknowledging what you aren't equipped to handle. Even harder is acknowledging that the initial, loyal team members who have brought you so far may not be suited for the same major role in the next stage of growth. It doesn't mean that you carelessly toss them aside, but it will mean some tough decisions and conversations to formulate and understand the transition into less prominent or different roles in the growing organization. It may seem disloyal; however, for you organization to continue to grow and succeed your organization must evolve.
If you haven't yet reached the critical decision-making point in your team’s composition - internal and external, then it is time to lay the groundwork and create a transition plan for yourself and your business team:
- Identify the key players in your business today
- List objectively the role, experience, abilities, and skills each provides today
- Assess the ability to "grow" this talent pool through investing in education, training, and developmental assignments
- Establish a clear policy that applies to YOU and everyone else which enables individuals to step into lateral or subordinate roles as the business needs to grow and change
- Communicate that the team succeeds or fails based upon its willingness to change and evolve
Remember that everyone has a stake in success and that change is inevitable. Building a sound foundation and a plan for making those changes reduces uncertainty and encourages everyone to participate. A healthy, growing company creates new opportunities and potential for everyone. A company that is unwilling to change or acknowledge that things aren't working won't be around for long.
Advisors and team members may be reluctant to acknowledge that they aren't equipped to deal with the new demands of your business. If your level of panic is steadily increasing and your numbers aren't where they need to be, then you have to do something differently. Relying on your existing trusted advisor(s) may be preventing you from making the necessary changes. Particularly with employee advisors it is vital to remember both sides of the relationship, they may perceive extreme risk in encouraging you to do something different or acknowledging they aren't the best advisor. They may feel their job and livelihood are at risk if they can't handle the role and its additional needs.
If you decide you need additional support that isn't connected to your business - not employees, directors, investors, or company advisors - then understanding the type of assistance you need is key. If you wish to develop your own executive skill set, then you may want an executive coach - because it is about YOU and what you are doing in the context of the business (and life). If you need strategic business direction, then you seek out strategic business consultants who can work through the numbers and address the non-financial and financial aspects of the business. If you are experiencing success and growth in the business, then you may need financial consultants to work with you to maximize business resources. With people and team building issues, look for human resource consultants who can work with you to develop succession plans, job descriptions, and developmental programs.
Understanding where and when issues occur or may occur is the difference between staying on course toward an iceberg, steering a course to the land of success, or just letting the boat stay at the dock. Other boats are going to sail. Are you ready to set sail for success, chart a new course, or get a bigger boat?
IRS Mileage Standard Rates return to top
The standard rate for mileage reimbursement for:
2004 is $0.375 per mile
2005 is $0.405 per mile
1099 Miscelaneous Reminder return to top
Remember that you must issue 1099 Miscellaneous forms to:
- Any independent contractor that you paid $600 or more in 2004. Independent contractors are individuals, sole proprietorships, partnership members, etc.
S and C corporations do not receive 1099 Miscellaneous forms.
Some service provider categories that you should check your payment amounts on include:
- CPA's
- Consultants
- Lawyers (All lawyers regardless of the legal structure of the company if they are doing legal work for your business.)
If you do not know if your service providers are incorporated, then send an e-mail or letter requesting this information. In addition to the legal structure information, you will want to request the Employer Identification Number, Business's full legal name, correct mailing address, and the name of the person to mail the form to.
This isn't a case of when in doubt send a 1099-Miscellaneous. Penalties of $50 per form can be incurred for incorrect filing of these forms.
Also, be sure that you aren't issuing these forms to employees. Employees get W-2 forms.
A great reference book that is easy to follow and written in English and not Legalese is Nolo's Hiring Independent Contractors - The Employer's Guide. Go to www.Nolo.com to order.
North Carolina Regional Capital Markets Exchange return to top
F.O.C.U.S. Resources and 919 Marketing will co-host the NC Regional Capital Markets Exchange monthly investment forums in 2005. This is a series of specialized events designed to connect promising private companies seeking growth capital and the regional investment community (angels to venture capital).
The first event will be held January 26 from 5 to 9 pm at the Raleigh Crabtree Marriott.
Up to five (5) of the areas most promising companies will make presentations to attendees.
An Open Forum for Investors:
The capital market exchange invites all sources of capital, including angels, venture capitalists, investment bankers, commercial bankers, asset-based lenders, SBIC, SBA lenders, broker/dealers, and business development companies that are managing closed end funds. Our goal is to create synergies in the supply side of the capital markets and to encourage collaboration by different funding groups.
Presenting Company:
Each presenting company receives pre-event professional assistance with crafting and refining your company's marketing message and media relations strategy, presentation coaching and advice on the overall content and flow of your presentation. This support is provided by CEO's of leading strategic consulting services companies in the Triangle without charge. FOCUS Resources and 919 Marketing recognize the importance of growing successful businesses to the economy and the larger business community.
Each presenting company also receives 30 days of media visibility through Local Tech Wire (banner ads and hot links), as well as exclusive news stories and press releases.
To register and for more information: Contact Tom Vass, The Corporate Investment Center 919.821.2671
Recommended Reading return to top
The Brand Called You by Peter Montoya
Brag! by Peggy Klaus
Think Bigger About Your Business by Janis Pettit return to top
What does it mean to have a Really Big Vision? Is it possible to have the most successful business you can imagine? When I ask this question to my small business clients, most think initially in terms of earning a lot of money or prestige. But more and more I’ve noticed two significant trends among women business owners (and some male clients as well). The first is the desire to achieve a well balanced, prosperous life as a result of a successful business which includes not just material wealth, but free time, spiritual fulfillment, a loving and supportive community and family, physical and emotional well being and a business that reflects their passion and values. On the other hand, I’ve also run across some who think they need to sacrifice ambition and dreaming big, and rationalize that accepting little or no profit from their hard work is okay as long as they like what they do. Recently I’ve encountered a number of highly creative women who left the corporate world to start businesses built on their artistic talent, selling products like hand crafted jewelry, purses, scarves, hand painted tiles, clothing etc. Nine out of ten are barely breaking even. They’re not alone. Under-funded budding tech companies who lack important business skills find themselves in the same boat. If you ask any of them if they’d like to be wildly profitable they answer with an enthusiastic “yes”! So what’s not working?
Most of us don’t have a Really Big Vision. I spent years not allowing myself to have one. Miracles occurred as I slowly let go of that bad habit. We allow all kinds of perceived roadblocks and counterproductive personal habits to prevent us from visualizing and creating exactly what our ideal business (and life) could be. If we’re uncomfortable even imagining it, how can we create it? Close your eyes and imagine how incredible it would feel, if two years from today, you could have the business success and fulfilled life you truly want. This kind of visioning, repeated daily, is a powerfully effective step in bringing your vision to reality. Big Vision Roadmap is about creating your Biggest Vision for your business, busting through current roadblocks, carefully mapping out how to reach your vision and then relentlessly focusing on following the map until you arrive at your destination.
Imagine that you want to drive to a wonderful vacation spot located hundreds of miles from your home. You’ve planned this vacation carefully, saved for it, and are tremendously excited about it. You get in your car and begin the journey. Oh, there’s just one problem. You don’t have a map. You know you need to travel west so you head in a westerly direction and hope you’ll find it. Sound ridiculous? Yet how many of us run our businesses without detailed mapping, planning, measurement, reflection and regular reassessment? Does IBM do that? I don’t think so. And how many of us take the quiet time to do the inner work which will make clear the outer actions we need to take to manifest the results we want?
Statistically 50% or small businesses fail in the first four years. Why? In working with scores of small business owners and in the course of my own experience, the reasons are: lack of financing and budgeting, fear, “I need to do everything myself” syndrome, poor time management, lack of knowledge about running a business (entrepreneurial skill set), lack of support, lack of confidence, focusing on the next sale instead of bottom line profit, or limiting personal habits that slow business growth.
Here’s what builds a successful business that serves your life (and not the other way around): laser-like focus, motivation, passion, sufficient funds to invest in the business and in expert outside help, careful budgeting, focused, savvy marketing, strong sales skills, the ability to delegate, self discipline, self knowledge, regular inner focus work, excellent priority based time management, extreme self confidence, the ability to work through your fears, strong business systems, an ability to take calculated risks and most important--clear, exciting, well defined goals.
Let’s get started on your personal Roadmap! Make a list of situations you are currently tolerating in your business that are draining your time or energy. Does anything make you feel overwhelmed? Is there anywhere where you sell yourself short? Do you feel satisfied with what you’ve accomplished at the end of each work day? Would you like to feel empowered, enervated and full of possibilities? Take one minute to download the Big Vision Inner Focus Techniques Guide from our toolbox. Go to http://www.smartrack.net/BigVisionTool1.htm. If you can spend just 15 minutes each morning following this guide, you’ll begin an amazing Big Vision Journey!
Janis Pettit, President of SmarTrack, has owned 4 highly successful small businesses over the last 18 years. She is co-author of 136 Ways to Market Your Small Business. Her articles on small business growth have been published internationally and she has helped scores of small businesses reach their profit and personal potential. You can reach her at jpettit@smartrack.net of at 919-562-2280.
Copyright 2004 by Janis Pettit
Copyright © 2004 F.O.C.U.S. Resource, Inc.
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