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How to Get Referrals Without Asking for Them

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What is a referral? A referral is the act of directing a potential client to a professional or company for further action to be taken place. Basically, someone else is recommending your expertise, product, or service to someone they know.

Step 1: Pinpoint your ideal client. Most companies do not know exactly their ideal client really is and that can pose to be a very big issue. They usually view anyone who can pay for their product as their target market and this can possibly be detrimental when it comes to using referrals to bring in new clients. Have an explicit idea of who you see benefitting the most from your business, who you wish to work with, and who you will gain the most profit from.

Step 2: Make referring your company easy. It is essential to remember that the person who is referring you is under a lot of pressure of hoping that you live up to the hype that was said about you. In the case of a successful meeting, all parties are winners, but in the case of a sales meeting ending poorly, you lost a client and are at risk for losing more clients. This potential dilemma can be avoided by substituting a sales meeting with a referral kit…..

Step 3: Nurture promoters. Instead of relying on the too-slow method of 1-by-1 referrals you’re used to, teach your referral partners how to become “promoters” for you and your company. This can ensure that your target audience will be physically reached out to. Many companies even decide to completely stay away from print and internet ads and rely solely on the publicity their trained promoters.

Step 4: Turn referrals into your clients. The old, 1-by-1 way to refer clients focused on those individuals who were seeking out something you and your company were offering. These referrals happened by chance and had less of a likelihood of becoming successful connections. By, maintaining a list of future clients and using your promoters to reach out to them in various ways, you can stay ahead of the game and gain clients before they take it upon themselves to seek out your product or services. This way, by planning ahead instead of scrambling for prospective clients at the last minute, you can guarantee the future success of your company.

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How to Make Your Small Business Successful

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Every major company in the world was once a small business. Starting something and creating something essentially from nothing is considered a classic element of the American dream. Many have dreams up starting up their own business and being their own boss. However, some folks do not have the skills and/or organization it takes to handle the details which entail running a successful small business. Follow these steps and you’re sure to have a smooth startup and establish a strong foundation for your business to thrive upon.

Create a business plan– Do it yourself or meet with a professional to draw up a plan for your company’s next year and into the foreseeable future. Your small business may need to have a profit-loss forecast, a break-even analysis, and a cash- flow analysis.

Begin with as much of your own money as possible–  Try your best not to take out loans and save up as much of the start-up capital as you possibly can before the grand opening. Start up costs can add up quickly and you can find yourself buried in fees if you have too much interest to worry about paying.

Determine how you will make a profit– Because making a profit is the purpose of any business, it should be one of your main priorities. Examine your business’ expenses (employee compensation, materials, rent, etc) and figure out how much capital you need to make in order to actually start making a profit.

Pay your bills on time– Although this may seem as a no-brainer, if you’re not 100% on top of the bills and taxes you need to pay, interest rates can add up rapidly before you realize it. The IRS is adamant about payroll taxes and may even threaten to remove your personal assets if you don’t remit your payroll taxes on time.

Create healthy employee relationships– While keeping the wellbeing of your employees to the highest regard, remember to hold them accountable for their responsibilities. It is they who make your company run and be sure that hold their work to the highest caliber and are loyal to your company.

Keep your edge– What differentiates you from other companies that are similar to yours and what can you do to keep this competitive edge? Whether it’s better customer service, a more convenient location, or better prices, find and hold on to what sets your small business apart and hold on to your trade secrets. This way, you can open with a “bang” and stay open with a loyal clientele.

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Writing a Proposal

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What is a proposal and when do I need to write it? Business proposals are probably the most crucial step in the complex sales process. A successful proposal results in a sale, a win-win situation, where both parties get what they want. It is important to consider who will be reading this proposal and the information that person is aware of before being presented with it. Include facts that will prove your company to be a reputable, honest organization with strong work ethic and consideration for its consumers. Consider the following tips when creating your ideal proposal:

Short Company Background/Statement of Need-  What values does your organization hold close to home? State the values your company has, as well as its qualities and successes of it that adds to its credibility. A statement of need establishes the focus for the potential transaction or relationship.

Scope of Work/Deliverables to be Provided- What services or products does your company provide? How will this help your potential client? Be specific in describing your organization’s scope of work. State what makes it better than others like it and also what makes it stand out.

Delivery Date/ Timelines/ Due Dates- Depending on what services your company provides, elaborate on your attention to detail and timeliness. Professionalism is key to any organization and in your organization, courtesy, and respect for due dates, your success as a company will draw potential buyers, clients, and enhance your integrity, as well.

After-Sales Support/ Tech Support- Having access to extra service beyond the day of purchase is reassuring to the consumer and more appealing to the potential buyer. Someone will be more inclined to accept your proposal if you show that you will go above and beyond in your service and have faith in the outcome of your work.

Return Policy/ Warranties/ Satisfaction- Does your Company have any of these? This is an extremely relevant and sometimes deciding factor when it comes to working with another organization. Offering something like free returns, a satisfaction guarantee, or a certain amount of time warranty can enhance the value and/or credibility of the

Acceptance/ Date Thank the potential client for their time and mention a perfect time for this proposal to become a reality, i.e. before the holiday rush, before summer break, etc.. and state the why this would be an ideal time to collaborate. Thank the reader for their time and how you look forward to their response.

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What Motivates Your Team?

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What motivates your valuable team members? It is important to find out what drives them to be the best they can be and work to their fullest potential. Different things motivate different people. If you find that your team is stuck in a plateau of motivation and productivity, it is important to inspire them so that you on the same page as to what your organization needs to become bigger and better.

The only way to be able to decipher what motivates who is to ask your team members what you can do in order to stimulate them and move your company into the future. It is the first proper step to take instead of investing time and capital into a potential solution that may or may not work.

You decided that you are going to physically ask your employees what motivates them, but there are countless ways you can do so. It is imperative to ask this crucial question of them in a way that will get the message of needed motivation across in an accurate way. It must also be executed without possibly offending the employee or making him/her feel uncomfortable.

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1. Send a Survey– Google Forms and other similar survey applications are extremely efficient and user-friendly ways to have team participation. Employees can simply choose from options or suggest their own in regards to voting on what can motivate them and/or the whole team. It is essential to be specific in asking what exactly animates them to move towards a goal in your company. The only downside there can be is that this method can be less personal than any other face to face method.

2. Schedule a Group Meeting– This way, a team can meet in an official work setting and are aware that productivity will be the goal of the meeting. Brainstorming and ideas can be discussed and a potential motivator can be determined. The subject of motivation can even be proposed during a routine work meeting. Team members are also more likely to feel more comfortable speaking about this subject when collaborating with fellow employees.

3. Schedule 1 to 1 Meetings– Having a casual meeting in which you completely describe the feedback you are trying to receive from the team can be extremely effective. You can establish an open line of connection by doing this that will strengthen relationships with your employees in the future. The only downside to this method may be that the employee met feel intimidated and as if you are expecting a certain answer from them.

Establishing and Developing Rapport

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What is rapport? Rapport is a harmonious and close relationship between two parties (in this case, a client and a company) that are concerned with each other’s wants and needs and communicate well. How do you become a trusted communicator to increase your clients’ trust in you and your company as a whole? In investing in your business, the transparency and trustworthiness between the client and the organization should be considered as building client rapport is like an investment in your sales future. Buyers and clients will place their trust and their funds with someone who they can depend on.

There are four phases of client trust and rapport development techniques you must examine and learn to use with prospective and new clients, alike. Client rapport will grow with ongoing account relationships when you learn to create a plan t0 be able to sustain client rapport in the future. In completing Triton Theory’s Four Phases you will be able to establish and build rapport in the following ways:

  • This trust or rapport building begins with the first ever contract with a perspective client. The earliest stage of a selling process is the most crucial as the actions you make will show a customer a considerable amount about your organizational style and skills, commitment to follow-through, and your temperament. Create a positive environment with potential and new customers so that you can establish a strong relationship with them. This creates customer loyalty and a desire for you and them to excel. You will be able to convert potential prospects who should be doing business with you into champion representations of your organization.
  • With accounts that are already established and running, your environment is constantly changing, as your company should be, as well. You shouldn’t feel comfortable enough to satisfy everyone’s needs as needs are constantly changing, as well. Communication is key. It advances and enhances the abilities of individuals and organizations to speak their minds and listen to feel supported and given value to. You will have the consistent ability to build solid relationships of respect and trust both in and out of your organization.

When completing all of these four modes, you and therefore, your whole organization, will be able to:

  • Create and develop trusting client relationships
  • Enhance rapport with existing and older accounts
  • Establish and build rapport with new accounts

In establishing rapport for you, your clients, and your organization, you will be able to move your clients, your company and your employees into a future of advancement and profitability.

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What your Mission Statement Says About You

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What is a mission statement, exactly, and why do we need one? It is one of the four primary characteristics of a successful organization. It helps define who your organization is in addressing your company’s purpose, business goals, and values. These three statements should make up your mission statement and help to thoroughly characterize who you and your company are and what your goals are, as well:

Purpose Statement– What does your organization seek to accomplish? What do you want the ultimate result of your work to be? Why does this company exist? This shows that you know exactly where you are headed and are focused.

A purpose statement also typically includes these two phrases:

  • A problem or condition to be changed is identified.
  • A statement, such as to decrease, to increase, to eliminate, to prevent, etc..

Business Statement– This outlines the programs or activities your organization does in order to execute its purpose. What is your company going to do to accomplish your purpose?

Often the phrase “to provide” is used when creating a business statement with the addition of “through” or “by”. Make sure to only include the ideas that are the most important and vital to your company’s purpose. This shows that you are goal seeking and shows exactly what you will do in order to accomplish your goal.

Values Statement– What values do you and the people you hire have in common? What is the core to your organization’s beliefs? This will guide you in aspects from your every day endeavors, to when your company is struggling and needs a guiding light. Showing your values in your mission statement shows that you work for the people instead of yourself, which builds trust and credibility.

Some of these values may include, for example:

  • Diversity
  • Honesty
  • Integrity
  • Innovation
  • Dedication to excellent services.. etc.

Aside from the three statements mentioned above as to what should make up your mission statement, it is wise to ask yourself the following:

  • What makes you and your company stand out from the rest and be unique in its quality, services, etc…?
  • What need or problem is your organization trying to solve or address?
  • Who benefits from the outcome of your work, and why are they important?

In establishing a strong mission statement, your company can spearhead into a future of productivity, satisfaction, and overall morale. Your potential employees will see that you are a business first, know exactly what you stand for before considering working for you, and determine whether or not he/she and your company are a proper match. Your current employees will find the drive and motivation they need in order to provide the most adequate service for you and your clients while establishing a strong relationship with your organization.

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Top 10 Tips for Time Management

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Do You Find Yourself Overwhelmed?

Are you working like a dog and still not accomplishing your desired goals?  In this edition of the TRITON newsletter we will dig deep to help you identify where your time is going and help you remove those daily tasks, conversations, and distractions that are not helping you achieve your aspirations while providing tips to help you manage the allotted time you have for projects and personal time.
Firstly, are you effective or efficient? An effective person produces a desired or intended result.  An efficient person achieves maximum productivity with minimum wasted effort or expense.  Which are you?  The goal for any business owner is to be efficient.  Whether it be by delegating tasks to your employees or prioritizing urgent items into your peak productivity time, it all begins with you and your organization skills.
Time Management can be one of the hardest things to manage in business and in life.  Sometimes we have so much to do and so little time to do it. With your job, schoolwork, and other commitments, you may be asking yourself, “What did I get myself into”? With these top 10 tips on how to manage your time, you’ll find yourself working more efficiently and with less stress on your plate.
  1. Make a detailed list of everything you need to do on a daily basis. It will help organize your thoughts and help you realize other tasks that may have been overlooked. Put them in order of most important and timely to least important.
  2. Set realistic limits. Accept that you cannot do everything. Consider it a success if you accomplish the most urgent things on your daily list.
  3. Take big tasks and divide them into smaller doable ones. It will help you to feel less overwhelmed and with the detailed list you made earlier, it will be easier to make. Ex. Instead of writing “Plan Event” write “make list of and call potential caterers.”
  4. Prepare and allocate time for interruptions. Life may throw you last minute curve balls and the possibility of something that needs to be taken care of in a timely manner is extremely common.
  5. Keep a daily agenda and plan it as far in advance as possible. Once you organize yourself, tasks seem much more doable when you can see when assignments and projects are due and when events will take place.
  6. Avoid distractions and concentrate. Don’t work in bed, in front of a TV, or other disturbances. Find a desk and a chair and get to work!
  7. Determine a time that you can dedicate fully to your work. If you can only work a few hours a day, be cognizant about how productive you need to be. If the event or project you are working on is drawing nearer, then think about dedicating a few more hours a day towards that certain event.
  8. Organization is key. Not only should you keep your work and agenda organized, but it’s essential to keep track of your commitments in life and not overbook yourself.  Leave blocks of time for personal projects, i.e. The gym, a yoga class, your child’s soccer game etc.
  9. Take breaks and don’t overwhelm yourself. All work and no play can really take a toll on you in the long run. Sometimes it is best to approach something with a fresh outlook.  Showering, playing golf, playing with your children are all great ways to distract your mind and gain clarity.
  10. Don’t allow for too much time to pass before you begin on your next project. It is easy to fall into a habitual schedule of doing nothing. Realize the excellent worker you are and motivate yourself to move forward and create more amazing productions.

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How to Network the Triton Way!

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The benefits of attending networking events are clear, you have the opportunity
to network with industry leaders that can give you valuable business, help you build lasting relationships, and build a strong referral network. With the abundance of events popping up daily, it’s important to beware that although you think you may be networking, you may be notworking. Doing so will result in a loss of valuable time/money for you and your company.

Networking, like any relationship is a 2-Way Street, in that both parties are equally giving, taking and striving towards success. Some events combine a wealth of information and resources. Those attending are there for the same reason you are, to gain more business. For this reason alone it is essential to be prepared before the event, know what to do during the event and have a plan to follow up with prospects after the event. Following the tips below will guarantee you get the most out of every event and truly Network vs. Notwork!

Before the Event
1. Research: Find out what companies will be in attendance and what positions are held. This will help you identify the people you want to speak with first.
2. Know Your Business: Rehearse your 30 second elevator pitch. Make sure it is Clear, Concise, Clear, Powerful, Visual, Targeted, Goal-oriented, and has a hook!
3. Update Your LinkedIn: Include your latest and greatest achievements.
4. Be Prepared: Charge your phone/iPad/tablet before an event, you will use them to gather information. Bring a pen & don’t forget to bring extra business cards!
5. Find a Friend: This will help ease any tension you may have as well as give you the opportunity to be introduced to others.
Need help breaking the ice? Click here for some ideal conversation starters!
During the Event
1. ALWAYS arrive on time. You only have one chance to make a good first impression.
2. Show Confidence: Maintain eye contact, use positive body language, have a firm handshake, show appreciation for time given. Don’t forget to smile! Confidence, not cockiness, is key.
3. Be Fearless: Step out of your comfort zone and engage with strangers! Walk up, stick out your hand, introduce yourself, ask what they do, and listen, don’t interrupt.
4. Have the Essentials at Hand: Wear a name tag, not all events provide them and they are an economical way to show your professionalism. Have business cards in an easy to reach location. Keep a pen close.
5. Stand Out: What makes you different? Why should that person connect with you?Like a job interview, setting yourself apart from the rest will create opportunities for you in the future.

After the Event | Extend Your Last Impression
Send personalized thank you e-mails/notes to all you meet. Give a suggestion as to how you can help their business. If you don’t hear a response. Wait a few days and reach out in other ways. If you don’t hear a response. Wait a few days and reach out in other ways. Send a LinkedIn request with a short message. Make a phone call.

Never Ever
1. Check your text messages, emails, answer phone calls, etc. while engaging in a networking conversation. Talk about unprofessional!
2. Pitch your prospect! Networking is about “Relationship Building” If they can’t use your product/service now, they may in the future or they may know someone that can use it. Don’t be pushy, it sends out a bad vibe.
3. Forget to say Thank You! Forget to follow-up! Relationships require maintenance.
4. Wear too much cologne or show too much cleavage. You don’t want to leave the wrong impression.

Investing in Your Business, Employees, and Yourself Through Sales Training

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Do you find yourself motivated only by the heavy dose of caffeine you had earlier? Is your staff skilled in the art of loitering? Do you find it difficult to find the drive to get through the day? How can you invest in your company to make it want to invest its time and effort for the betterment of the organization? How did people like Steve Jobs or Walt Disney drive their companies to prosperity?

Through sales training, you can learn, as a business owner, to drive your company as a whole to invest itself in its future. The three aspects of sales training are knowledge training, skill training, and attitude training. Today’s tidbit will be focused on the attitude aspect of sales training, as it is often overlooked and workers are left with negative views toward the company. The following tips can help you get on the right track to turning you and your company’s attitude around:

  • Hire the right people for the job: In using behavioral interviewing instead of the typical traditional interview, you are more likely to find people whose personalities and characters will match what you are looking for to better your business.
  • Set clear expectations: Communication is key. Make sure employees understand exactly what is expected of them regarding work and behavioral guidelines. That way, everyone knows exactly what his/her job, why he/she is doing it, and how he/she should act when performing their tasks.
  • Delegate employees to be a part of the solution: When people feel a sense of responsibility in a task that needs to be done, they feel important and are more likely to be accountable.
  • Hold each other accountable: When managing supervisors and other delegating employees, it is your duty to make sure that they are reminding the appropriate employees of deadlines. You and your supervising employees also need to be as accessible and approachable with any questions or issues that may arise.
  • Have patience: We are human. We make mistakes and it may take some time for us to learn a certain skill. Save yourself and your company tension and go with the flow.
  • Share information: When everyone is kept in the loop, they can better understand the situation of the company and their coworkers and sympathize in good times and times of crisis. This makes them feel as if they are directly connected to the company and are more likely to be loyal and work above and beyond for your organization.
  • Share the revenue with your team: You did not do the work alone. In giving the deserved credit to your team, you are establishing loyalty, raising morale, and driving your team to invest themselves with your company in the long run.

Triton Theory will be offering an informative webinar series launching this September to further elaborate with those of us who are just beginning a company, or even have an established business. Triton Theory will focus on the knowledge, skill, and attitude training, as well as all the other aspects needed to institute and run a successful sales operation. There is always room for improvement and in providing the proper sales training for yourselves and your employees early on, you will be investing in a strong foundation for your company to grow.

 

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How to Stimulate your Company into Increasing Profitability

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Owning a business is extremely rewarding, yet pressuring with unending responsibilities. One must be able to oversee and take command of the “big picture” or goal the company has, and manage and know the ins-and-outs of each aspect that encompasses that business. This way a business owner can avoid past mistakes to figure out what is best for the company at the present to improve its future and, in turn,  increase profitability.

As satisfying as owning a business might be, one must be knowledgeable and know how to execute that knowledge. Whether you have an established company, or are just brainstorming the idea of founding one, there is always room for growth and much more to learn. The business word is a very complex place and no matter which job needs to be done, there are hundreds of details and much information that goes with each position. As the owner of a business, it is that person’s responsibility to make sure that each employee knows of what is expected of him/her and that the workday flows effectively.

It is essential to establish and be fully aware of the following aspects in regards to owning and running a business;

  • Research and construct a strategic plan. It will be the framework for the way your organization is run.
  • Perceive and implement the financial and accounting aspects of a company. Everything revolves around money, so once you understand the money aspect of a business, everything else is easier to understand.
  • Establish an effective system for hiring, training, retaining, and longevity planning.
  • Apply leading methods for constructing, leading, and governing your business and be an example to others. Your company’s employees look up to you as a role model and for guidance, so being the pest professional possible is key.
  • Set up a regulatory structure in which leadership, enterprises, and financials are handled.
  • Be able to depict all that is necessary to brand your company through marketing and sales. Make sure your employees know of all these plans and all other ones that are necessary for your business to run.

Proper coaching can lead to a 400% increase in profitability and productivity in your company, statistics say.

Triton theory offers a complimentary business screening session to determine what your company needs in order to reach the progress you desire for your company. Call 954-367-3767 to speak to a TRITON consultant or visit www.tritontheory.com to set up your meeting today.