Do the Math and You Will Quickly See Why It Is Time to Fire Customers and Make More Money

THE LOGIC

Face it.  Your time is incredibly valuable.  Let’s cut to the chase and do a couple of quick calculations:

1. Tally up  your total overhead costs (salary, utilities, rent, supplies, equipment, licences, etc…) for one week.
2. Next, add up the total revenues earned last week (include sales or commission, pro-rated fees, other revenue).
3. Subtract OVERHEAD out of REVENUE.
4. Divide that number by the total number of truly productive meetings you held last week.

What you are left with is the true average result of each meeting last week.   As a formula, the calculation looks like this:

(REVENUE – OVERHEAD)
# of SALES MEETINGS 

THE REALITY

In my experience of working with thousands of business people seeking the mythical “silver bullet” to success, I have found that most people are less than honest with themselves about how good of a job they are doing.  Many of the financial professionals I have known over the years are some of the worst offenders.  It is very easy to make oneself appear “busy“.  The truly successful, however, focus on being “productive“.

It Isn’t Always About The Money

Who deserves your time and attention?  Certainly, your family and friends are in that category.  Your best clients should be as well.  That’s why you need to fire some of them.

Several years ago, there was a gentleman who chose to invest a significant amount of his retirement money with me.  We discussed a strategy that was appropriate for someone of his risk-tolerance, considered his expected number of years until retirement, other investments he held, and he agreed to open an account where he would pay me on a fee-basis rather than paying a commission on purchases or sales in his account.  He was particularly fond of the fact that his interests (growing the value of his account) were aligned with mine (the greater the value of the account, the greater the dollars I would earn as his investment advisor).  There was only one problem.  As soon as we opened his account and transferred in the cash, he forgot what we had discussed.  He froze up.  He wouldn’t agree on any of my recommendations and wouldn’t allow me to put the money to work in the markets.  That said, he was paying me fees (see “REVENUE” above) in return for my time.  The problem was, I was spending hours trying to track him down on the phone, attempting to catch him at his office, and discussing with him what we needed to do for his account.  In the end, despite the fact he was paying me to not take my advice, I had to fire him as a client. It was the best move I could have made.

What’s In It For You?

Freeing yourself from the binds of a customer or client who only wants your advice and attention, but remains unwilling or unable to act upon it, is an amazing experience.  Sometimes you have to fire customers. Once you do, you’ll wonder why you did not fire them earlier.  Suddenly, you have more time to tend to the the accounts with whom you have great relationships–The clients who take your advice.  The ones most likely to give you leads and referrals (the ultimate endorsement from a client) to help you be more successful.  You’ll have less stress, more enjoyment for the job you do, and maybe…just maybe…make more money.

Now, it’s time to call that customer and tell them, “It’s not you…It’s me!”

Leave a “Client, You’re Fired” story or other great practice growth tip in the Comment section below!

Building highly successful (and more profitable) customer relationships can be accomplished in less than 15 minutes per day.

The hint: Follow your customer’s company and industry better than they do.

Let’s cut to the chase:  There is tremendous value in understanding each of your customer’s corporate objectives and projects on the horizon as if your life depended on it.  Waiting for someone to ASK for help with a project often puts you behind the 8-ball and more importantly, behind your competition.

Setting your home page of your web browser to default to a page centered on your target industry or the largest city in your territory.  One great example is to visit bizjournals.com and choose your city.  Why not set up Google alerts for accounts in your territory?  If you are a Twitter user, customize a digest of relevant information like this one (it’s FREE to set one up) by IdeaCharger.  By keeping an eye on a particular industry or market, both ideas work to help you leverage public information that will increase your overall market intelligence of your target industry, customers & territory. Scanning headlines relevant to your sales efforts can easily be done in under 15 minutes per day.

When you locate a relevant article, give some thought to how what you are reading is useful from a strategic standpoint. Ask yourself:

• Do I know decision makers at all companies involved?
• What opportunities does this provide right away?
• What opportunities could this provide in the future?
• How could I make sure I am PROACTIVE in keeping relevant information in front of my contacts at these companies?

Information like this can and should be automated, making it easy to quickly scan or mark to read more, later.  Keeping an eye on information about customers and prospects can lead you to open doors….often with big piles of money on the other side.

When THEY Look Good, YOU Look Better!

This week, something simply amazing happened when I came down with bronchitis, lost my voice, and was unable to attend (under a doctor’s orders) a trade show my company had paid a LOT of money for us to attend. My team stepped up.

For years, I have been teaching fundamental leadership tools to business people around the world as a corporate trainer.  Even before that, I had already read and adopted a number of fundamentals written up in David Allen’s best-selling phenomenon Getting Things Done. (Seriously, Google “GTD” and you’ll think you have found a “secret productivity cult”.)  I guess I have always been a bit of the “everything has a place” kind of person.

Here’s the breakdown:

I have a folder for everything (Thank you, GTD!).  When I walked out of the office on noon Monday to go to a maternity appointment with my wife, I fully expected to be back Tuesday morning at 7:15AM to load up and head down to the George R Brown Convention Center in downtown Houston to set up our booth.  Just to be safe, I pulled that folder from the stack, left it conspicuously on my desk, and checked in with our Sales Manager to let him know where all of the collateral had been stockpiled for the event.

My wife and I went to her appointment, learned the baby is coming along nicely, and on the way home…completely lost my voice.  Uh, oh.  I had my wife call our Sales Manager to give him a heads up, and confirm some last minute items.  He understood.  The next morning, I was a no-go.

Just about the time the exhibition floor was slated to open…I received a text message with a picture of our booth all set up and ready to go.  By the end of the day, I’d received another message that one of our team members stepped up to help out, and the day went great.  In fact, if I was feeling good enough to come in the next day, I was told to head on to the office…as they had the event “handled”.  Where I have seen so many people panic over a message like that, I just sighed in relief.  All was right.

If you believe whole-heartedly that YOU absolutely MUST be there to make things happen positively for your team, you don’t have a team that communicates very well.  If your team functions just fine without you, your leadership is working.  By making sure everything was done ahead of time, my presence was less necessary!  Plan your work. Work your plan.  Fundamentals matter.  Now, go get to work!  The better you make THEM look, the better off YOU look.

p.s.  I wrote this during the second day of that trade show while working from home.  Yep, I had even had enough forethought to pack the power cord for my laptop.  It’s been one of my most PRODUCTIVE days in WEEKS! Tomorrow, it’s back into the plant….

FOR IMMEDIATE RELEASE:

CONTACT:
Scott Cooksey, Director of Communications
National Speakers Association Houston Chapter
Office: 281-849-8255
Cell: 918-633-4490
scott@cookseyconnects.com
www.nsahouston.org

Cooksey Selected as President Elect of NSA Houston Chapter

HOUSTON, TX ― The National Speakers Association (NSA) Houston Chapter has selected Scott Cooksey to serve as President for the 2012-2013 program year. Cooksey is currently serving as Director of Communications for the organization.
“NSA Houston is one of the leading chapters in the country. I’m looking forward to working with the best speaking professionals in the Houston area,” said Cooksey.
Cooksey is currently the Director of Marketing, North American Sales Coordinator for the Houston-based company Clock Spring, a manufacturer of permanent and temporary pipeline repair solutions.
Cooksey has also worked as a contracted speaker for Monster.com, corporate trainer for Skillpath Seminars, and freelance speaker through his own company, CookseyConnects.
NSA is the leading source for community, education, and entrepreneurial business knowledge needed to be successful in the speaking profession.
###

Let’s take a ride in the “way-back” machine. Let’s look through the lens of perspective of your first day at any job you have ever held.

What can you remember about that day? What was the weather like? Do you remember the smell of the office? Were you seemingly over- or under- dressed? How organized were the people around you? Was it clear where you were supposed to be and what you were supposed to be doing?

Consider the excitement and enthusiasm you held for the opportunities which lay ahead on that first day.

What about today? Does your excitement still abound, or are you now “settled into the way things are around here”? Can you remember this morning’s commute to the office? Do you look forward to the day?

If your lens of perspective has shifted from one of optimism to one of pessimism (or as the pundits call it, “realism”), I think it may be time to refocus your energy.

Develop your CONNECTion Perspective. Focus on what you can do, rather than what “they” say you can, or “what always happens”. As the old saying goes, “If you don’t arrive for work fired with enthusiasm, do not be surprised when you are fired…with enthusiasm!”

Today is the day you will get your shift together! Stop waiting for your environment to change. Influence it for the better. When others around you find the proper lens of perspective, there is no stopping what you can accomplish.

Guest Post by:
Mike Henry, Chief Instigator
Lead Change Group

One thing I’ve noticed in leadership discussions lately surrounds the idea that everyone is a leader.   Some established, experienced leaders withdraw from the idea quickly.  “Too many cooks spoil the soup.” Or, “Someone has to be in charge.” How does anyone expect to get anything done when everyone thinks they’re the leader?

Room at the top

In a hierarchical organization, there is only one box at the top.  Everyone can’t be in-charge.  Someone must be ultimately responsible for what happens on a team.  But must everyone else be impotent?  Must everyone else wait until a box on the diagram above them opens?

When we were kids, we didn’t have org charts.  Whoever showed up played.  Sure there were some kids who didn’t get chosen early, but generally, at least in my circles, leadership was a function first of showing up and then either having the ball or having the best idea of which game to play.

Character-based Leadership

New, organic, character-based leaders lead from who they are.  It causes some concern in fear-based position-focused organizations, but generally organizations and leaders appreciate individuals who accept responsibility, act like owners , and avoid blaming others  or acting like victims.  We appreciate  people who demonstrate initiative.

But the old top-down org chart just doesn’t create a naturally conducive environment for that type of leadership.  We can talk about empowerment and initiative and creativity but there is always this looming idea that someone further up the ladder will stop anything they believe is unnecessary.

New Leaders Avoid Hierarchies

New leaders form something more similar to a tribe or a community.  It’s based on connections.  In fact, I’d go so far as to suggest that the new org structure is more of a project matrix.  Seth Godin and others have suggested that everything is now a project.   Your vacation is a project, and so is your current job.  In a few weeks or months or years, you’ll get involved in another project (or job).  Everything is more temporary that we like to think, unless we’re miserable and then everything is less temporary than we’d like.

Connections are the new keys to getting things done.  Project management is less about the project or the activities and more about who you can enlist, for how long, and what is their level of commitment.  Your connections and your ability to mobilize those connections will determine your success.  If the world is one big matrix, how you can connect and with whom are the key questions.

Triad Relationships

In Tribal Leadership, by Dave Logan, Jack King and Halee Fischer-Wright, the authors noticed something about the stage 4 and stage 5 tribes.  The highest most productive tribes built what they called Triad Relationships.  A triad relationship is a relationship where one person introduces persons two and three.  Two and three go on to build a relationship that no longer requires person one to be involved.  That’s a triad relationship.

Can you create connections that outlive your engagement?  If we’re going to be leaders who connect and succeed in the new community-based non-hierarchical world, we need to have the confidence and the genuine concern for others that would allow us to enable these triad relationships.  A series of triad relationships that exist over time and engage for various projects begins quickly to look like one huge matrix.

So how are you at creating triad relationships?  Does your organization support triad relationships or does it still reinforce old-style co-dependent relationships>  Can you point to some connections inside or outside your organization that have gone on to produce outcomes not involving you?  I can.  It’s rich and rewarding to see results from a partnership that you helped to create, even when you’re no longer involved.

Mike Henry Sr. is the founder and Chief Instigator of the Lead Change Group.  He has a passion to mobilize character-based leaders to make a positive difference.  Connect with Mike at http://leadchangegroup.com/members/mike.

Guest Post by:
Mac Cassity
Mac The Knife Marketing

[Mac is a personal friend of mine from...let's just say WAY back!  When we re-CONNECTed and I learned what he was up to these days, it was clear to me: He understands the Power of Connection! Be sure to leave your thoughts and comments below after you read Mac's post!
-Cooksey]

I know, we’ve all heard it before…referrals are the BEST way to get high quality, easily converting business, right? That is, unless the referrals you are getting absolutely suck! The fact is, many (if not most) business people don’t even understand exactly what a true referral is. This results in quite a bit of wasted time and effort and not NEARLY as much actual business being transacted. A high quality referral IS like gold, but, do you even know what a high quality referral is?

My definition is simple: A high quality referral is when you introduce someone whose product or service you have faith in to someone you think could use that product or service. BAM, that’s it. Notice the word introduce is highlighted. That introduction is the secret to making referrals work. Unfortunately, all too often, we encounter a scenario like the one below:

“Hey Mac, I have a great referral for you!”

“Cool, lay it on me!”

“Well, I was driving in to work today, I saw a billboard for a new business opening up on main street, they could probably use your marketing services…you should call them!”

“Uh…yeah…sure…thanks.” (SUCK!)

The scenario above represents MANY encounters I have had in so called “referral” groups that I belonged to. Listen folks, you might mean well, but this info does NOT equal a referral. Referrals must be handed off. Another one that kills me is the “Just call him and tell him I told you to call.” Again, I say…SUCK! Most of us have higher opinions of ourselves than others and just because you think someone loves you doesn’t mean they want you telling others to call them and ask for business! Not cool. These phone calls are often little better than cold calls and in my opinion are not worth my time. You might think this sounds a bit harsh, but that’s because I expect what I give, and here’s how I give referrals:

1. 1.      I personally introduce two individuals at a networking event and tell them why I think they should do business together.
2. 2.      I arrange a 3-way phone call and do the same as the above (when a face to face meeting is not possible)

And lastly (but usually the most common due to obvious limitations)

1. 3.      I email the two parties and do a “virtual introduction” thereby connecting all 3 of us as part of the referral. This one works great, is easy and quick to do, and VERY effective.

So there you have it. THAT is how you give a referral that doesn’t suck. Oh, and as for those people who give you referrals that do? Simply say to them,

“Hey, let me ask you a quick question…if I know someone that I think would be a good client for you, do you mind if I introduce them to you personally?” (they will always answer with a resounding “ABSOLUTELY!”) Once they do, just smile and ask,

“Well…do you mind doing the same for me?”

They will get the point and you will have helped train one more business professional to start giving referrals that don’t SU…you get the idea.

Mac Cassity aka MAC THE KNIFE runs a successful content creation business,  Mac the Knife Articles  and an online/offline marketing business, Mac the Knife Marketing. He has developed an extensive client base that includes major automobile manufacturers, universities, Well known speakers/authors, and more than a few “mom and pop” shops. Mac’s blog, www.MacCassity.com, helps burgeoning offline marketers land and profit from brick and mortar businesses. Mac is offering his successful eBook TURNING CONVERSATIONS TO CLIENTS right now for just $1. CLICK HERE to grab a copy for yourself!

Cooksey (along with his wife Krissy) with members of the Clock Spring LP North American sales team at the 2011 PPIM Conference in Houston, TX

What is the best statement you could hear from a client?  Maybe it is a sincere “thank you”, or “you made a real impact with us”, or maybe just it’s the melodic sound of a referral.  What about “we would like to have you join us as part of our team…full time”?

I’m proud to announce that beginning tomorrow, I am joining the team of one of my prior clients as the Director of Marketing at Clock Spring L.P. To that I say, “What a compliment!”

For nearly the past three years, I have been gathering research about what works, what doesn’t, and how to fix organizational leadership.  It is a project that has taken me, literally, around the world and provided me with unprescedented access to all levels of leaders within organizations large, small, public, private, for-profit, not-for-profit, successful and struggling.  During those hundreds of encounters, I have often reminded workshop participants that significant change in their organizations begins with intentional, consisitent energy pushing in a new direction.  I am extremely excited to be distilling this research into action as part of a team already achieving incredible results!

While several of this blogs followers have already heard about the move and inquired about the future of Cooksey Connects, let me assure you- the mission will continue.  Over the coming months, you may notice a small tweak in the direction of this site and its message, yet the core message of CONNECTion will remain strong.  The guest post series has proven extremely popular and I hope you will continue to enjoy the Monday articles for the next several weeks.  I have reached out to a number of people across North America, and there are some GREAT articles in the queue.  (In case you missed the first two, be sure to check out the posts from Jerry Sevier and Kathy Piersall and leave your comments for the authors!)

For the next month, I will be continuing to wrap up a few previous committments to another client, so if you see me coming to your town, I’d love to meet up with you while I’m there!  Let me hear from you!

GUEST POST by:
Kathy Piersall, Owner
A Blue Moon Arts, LLC

[October is Breast Cancer Awareness Month, so I've asked Marketing Expert, Kathy Piersall to share her thoughts on building a marketing CONNECTion with women.--Scott]

Don’t just make it pink.

How many companies have slapped a coat of pink on their product, or suddenly started supporting breast cancer charities, when neither of these actions has any obvious, real connection to their brand? (“Pinkwashing“, anyone?) Women have been the special targets of marketing and advertising campaigns for decades, because marketers often assumed they controlled most expenditures for their households. So women have learned to spot condescension a mile away. Find out if women are truly a realistic target market for what your company offers. If it’s reasonable and profitable to connect with the female market, be sincere. Build genuine connections.

Allow time for discussion

Women tend to ask more questions, especially at the beginning of the sales cycle. Your female prospective clients may want to talk about the pros and cons more. Don’t feel threatened by this. It’s not confrontation or conflict. It’s your opportunity to re-emphasize your strengths and get more insight into what hopes or worries motivate them. Establish trust this way early, and you’re likely to spend less time answering questions later in the process.

“Female” does not equal “spouse” or “with kids”

As of 2005, more women are living without a spouse, according to the New York Times. And according to a 2006 U.S. Census Bureau report, roughly 20% of women 35 to 44 years old have never had kids. What does this mean? Make sure your company’s marketing speaks authentically to a female audience, and doesn’t view a woman as just a portal to gain access to a hypothetical spouse, or her 2.5 children.

“Busy” is not the magic word

The word “busy” is as overused as the color pink when trying to attract the attention of a female audience. Many marketers seem to think if they start their messages with “Gee, we’re all so busy these days!!”, every woman in earshot will drop what she’s doing, sigh in sympathy, and give her full attention to whatever statement follows. Sure, you could argue that women tend to feel obliged to take on a wider variety of tasks in both their personal and professional lives than men or children do. But if “busy” doesn’t mesh with the rest of your marketing messages, then it’s just a fake attempt to create connection. And it’s a weak start to the dialogue your company really needs to have with women, if you hope to create a relationship that’s rewarding for both sides.

The Challenge

Let us hear about other marketing miscues you have noticed, below.  Perhaps you can:

• Share anadvertisement, commercial, or other marketing message you have seen that simply “missed the mark”, in your opinion.
• What might that company have thought about BEFORE they spent money to send out a message?
• Provide an example of a marketing message that resounded with you, leaving you with a feeling that the product or service CONNECTed with you, and was completely relevant.

Visit Kathy’s company on the web at: www.abluemoonarts.com
Follow @abluemoonarts on Twitter
Check out A Blue Moon Arts, LLC on Facebook

Guest Post by:

Jerry D. Sevier, Founder
ExamShout Mobile Certification Study Solutions
A division of Gensev, Inc.

Customers are more than just a figure in your sales log. Many companies have learned that they are an incredible resource for information. They can tell you when you aren’t doing the right thing or validate you are, in fact, moving in the right direction. However, I have recently discovered they can do even more. The simple act of reaching out to your customer base to honestly CONNECT can have profound results.

Before I get too involved, I’d like to take a moment and thank Scott Cooksey for the opportunity to make this guest appearance on CookseyConnects. I have known Scott for over fifteen years as he and I worked together in what was my first professional job in the Information Technology (IT) industry. Today, I own a successful business that sells mobile applications for devices like Android and iPhone.  [No "thanks" necessary, Jerry!  You are certainly WELCOME and I offer you many congratulations on your continued success! - Scott]

Since moving away from that small Oklahoma town where we first met, we’ve each been busy learning our life-lessons and establishing our careers. I had, for many years, a very successful consulting career providing software development services to many Fortune 500 companies all over the country. To put it simply, companies paid me a lot of money for what was, in essence, my opinion on strategy, direction and design on things like e-commerce and enterprise computer systems.

About two years ago, my wife asked me a pretty innocent question: “If you can help these companies make millions of dollars, why can’t you do that for yourself?” Little did we know, this simple question would change our lives forever. Since then, we have formulated a small consulting company that specializes in Mobile/Smart Phone applications. I figured, with all of my experience, ability to program, and such a thorough understanding of the industry, how could I fail, right?

We did everything by the book. We created the business plan, I researched our target market, I studied my competition and formulated a design for our software. I added many features that our competitors had “overlooked”. Because of this, what should have been a three month development cycle was dramatically extended. We launch almost a year later than expected.

Upon the software release, sales were very disappointing. Just like I learned as a consultant, I went back into business mode, modified our software design, and released a much-improved update. Still, sales were flat. I was frustrated and we were looking at losing everything we had invested in a venture that was clearly heading towards failure.

Out of desperation, I decided to ask my customers directly for their input. Instead of drafting some fancy e-mail campaign, I printed off a customer list and spent an entire week doing nothing but sending a personalized email to each and every one of the people who had purchased our program. As one then another responded, I’d immediately write them back. Before I knew it, I had an open dialog with dozens of our customers. I made responding to them my number one priority. Many of them were shocked that I would respond within minutes even at 2:00 am.

All while I was working with the customers, I was formulating how we could revamp our marketing strategy. We could do this… we could do that. Here’s how we could change our software. My mind was busy putting together the strategy. Then, something remarkable happened.

Sales began to explode! We were seeing sales at a rate we had never imagined.

But wait! We hadn’t done anything yet! How were sales skyrocketing before we’d made any real changes?

I am ashamed to say, it took me a bit to realize what had happened. It turns out, when I reached out and connected with my customers, I had unknowingly provided them with a feature that none of my competition had… a two-way relationship. Their input mattered, I did my best to change what I could and explain what I couldn’t. In exchange, they began to tell their friends about us, and a process was born that spread like wild-fire.

Customers are not just those statistics that you read on the daily sales log. They are real, hard working people like you and me. If you can reach out, develop a real conversation, you can empower them. And, more often than not, that new power will be used to help you take your business to the next level.

To this day, I attempt to send a custom, personalized letter to each and every one of my customers. While this is becoming more and more difficult to keep up with due to our new found success, it is a process I will never stop.

The Challenge

As a final note to each of you reading this: If you work in a service oriented industry, I challenge you to reach out to some of your customers and/or clients today and honestly ask them for their input, suggestions, and comments. I promise, the harder you work to respond to them, the more success you will find.

Thank you and happy connecting!

Visit Jerry’s Company on the Web at: www.examshout.com
Follow @examshout on Twitter