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Atricle Dump - 8 Ways to Win more Contracts
In 1997 I moved to Colorado to work as a research engineer. We lived in a small town in the mountains. That’s when I learned that my company had given bonuses in past years but they stopped them because the local merchants were always badgering the company about the bonuses that didn’t come and the smaller- than-usual bonuses.I didn’t learn this from the company; I learned it from the guy at the hardware store.When your company cut your bonus and said, “We had to do it because the local merchants complained to us,” they may not be kidding.Then again, it is reasonable to dump a bonus plan that has gotten out of hand and too expensive.Our comp
7. Keep in touch
Always ask for the contract at the end of the meeting, but don’t expect to get it right then. Instead, ask when the company expects to make a decision. Plan to stay in touch with the prospect with a polite e-mail expressing your eagerness. Then call back weekly until you get a yes or a no. Never take a lack of response as a personal affront or a lack of respect. I’ve seen many contractors make this mistake, firing off nasty missives that burn bridges.
8. Know when to walk away
As with any successful negotiation, have an acceptable fallback or compromise position. For your own long-term happiness and reputation, it's better to walk away from an unfair deal than to accept a gig you perceive as unfair
Back when I first considered offering clients executive coaching services, I had a misconception of what it was. One I shared, perhaps, with many others: I thought it was the unquantifiable art of fixing broken behavior and personalities.It’s not. It’s about business performance and how human behavior impacts your bottom line.Executive coaching is actually the skillful delivery of effective feedback as part of a systematic application of proven behavioral science tools that identify, target, define, measure and incrementally improve human behavior, with the objective of advancing business performance.There can be “touchy feely” elements to coaching
Let’s face it—winning a contract can be one of the most bewildering parts of running your consulting business. It doesn’t have to be such a tremendous dilemma. I’ve worked with hundreds of very successful consultants through the years (and been one myself), and I’ve found that those who flourish take these 8 steps:
1. Prepare to make a great first impression
You never get a second chance to make a first impression, and you make a great first impression by being prepared. Research the company and subject matter, using any available means, including your contacts at the company. Study the company's history, key personnel, current technologies, existing and foreseeable problems and solutions. Preparation bolsters your confidence, and lets you initiate meaningful discussions about the client's needs and goals.
2. Focus on the client
Remember, an interview with a prospective client isn’t about you–it's about the client's desire to solve their problem cost-effectively. Avoid rambling explanations about your expertise. Be concise. Prepare and practice a 10-second synopsis of your expertise and value.
- Come prepared with a series of thoughtful questions aimed at better understanding the client’s needs.
- Listen carefully to the client’s responses to your questions, and respond with your own summary of what you’ve just heard.
- Ask if this is correct, a technique known as “active listening.”
- Don’t try to solve the problem now; just make sure you both agree on the issues.
3. Anticipate objections
Prepare a compelling response for each potential objection the client may have for hiring you. Such objections may include:
- Attractive options proposed by the competition
- Your rates
- Estimated turn-around time
- Internal bureaucracy/resistance
4. Create a sense of urgency
Most companies know that excellence is in high demand. If the prospect seems on the fence about a decision, you can point out that--while you’re excited and eager to work on his project—your other clients are asking for your time, and you’ll need to reserve space for him soon. (Assuming this is true) Make sure you first understand why the prospect is hesitating. If he has undisclosed constraints that put a decision on a longer timeline, he could walk away.
5. Provide an incentive
Many contractors add some financial wiggle room to their bids to protect themselves from unforeseen costs. If your rates are fair, you’re comfortable with a smaller “disaster” cushion, and this client will likely be a good source of contracts in future, you can sometimes cement the sale by offering a small discount on this contract or contracts in future. ** Not sure if you're charging the going rate? Check out our free rate comparison tool **
6. Avoid auctions
Competitive bidding situations are usually a losing proposition for contractors. You either lose the contract or you lose money by steeply discounting your rate. You can avoid a competitive bidding situation by letting the prospect know—nicely—that you don't bid against other companies or individuals. Instead, stress your value. More experienced consultants are simply more efficient and thus less expensive in the long run.
If your prospect has another, much lower bid, make sure the bid is for an equal level of service, and that the company is a peer in expertise and experience. Ask your prospect to check with references for both sides. Reference checking—which surprisingly few companies do—can often turn around a sale.
7. Keep in touch
Always ask for the contract at the end of the meeting, but don’t expect to get it right then. Instead, ask when the company expects to make a decision. Plan to stay in touch with the prospect with a polite e-mail expressing your eagerness. Then call back weekly until you get a yes or a no. Never take a lack of response as a personal affront or a lack of respect. I’ve seen many contractors make this mistake, firing off nasty missives that burn bridges.
8. Know when to walk away
As with any successful negotiation, have an acceptable fallback or compromise position. For your own long-term happiness and reputation, it's better to walk away from an unfair deal than to accept a gig you perceive as unfair.
Hiring good people is only half the battle. The other half is keeping them, especially in a relatively strong economy where quality people are difficult to attract.Let’s face it. It has never been tougher to find quality people. While national unemployment figures have increased over the past year, there are many markets that are still classified as tight labor markets. In these markets, especially, this means that just about anyone who wants to work is already working, so to find quality people, managers must put on their selling shoes and persuade them that the grass is greener on the other side of the fence.When I interview a newly hired employee,
Remember, an interview with a prospective client isn’t about you–it's about the client's desire to solve their problem cost-effectively. Avoid rambling explanations about your expertise. Be concise. Prepare and practice a 10-second synopsis of your expertise and value.
- Come prepared with a series of thoughtful questions aimed at better understanding the client’s needs.
- Listen carefully to the client’s responses to your questions, and respond with your own summary of what you’ve just heard.
- Ask if this is correct, a technique known as “active listening.”
- Don’t try to solve the problem now; just make sure you both agree on the issues.
3. Anticipate objections
Prepare a compelling response for each potential objection the client may have for hiring you. Such objections may include:
- Attractive options proposed by the competition
- Your rates
- Estimated turn-around time
- Internal bureaucracy/resistance
4. Create a sense of urgency
Most companies know that excellence is in high demand. If the prospect seems on the fence about a decision, you can point out that--while you’re excited and eager to work on his project—your other clients are asking for your time, and you’ll need to reserve space for him soon. (Assuming this is true) Make sure you first understand why the prospect is hesitating. If he has undisclosed constraints that put a decision on a longer timeline, he could walk away.
5. Provide an incentive
Many contractors add some financial wiggle room to their bids to protect themselves from unforeseen costs. If your rates are fair, you’re comfortable with a smaller “disaster” cushion, and this client will likely be a good source of contracts in future, you can sometimes cement the sale by offering a small discount on this contract or contracts in future. ** Not sure if you're charging the going rate? Check out our free rate comparison tool **
6. Avoid auctions
Competitive bidding situations are usually a losing proposition for contractors. You either lose the contract or you lose money by steeply discounting your rate. You can avoid a competitive bidding situation by letting the prospect know—nicely—that you don't bid against other companies or individuals. Instead, stress your value. More experienced consultants are simply more efficient and thus less expensive in the long run.
If your prospect has another, much lower bid, make sure the bid is for an equal level of service, and that the company is a peer in expertise and experience. Ask your prospect to check with references for both sides. Reference checking—which surprisingly few companies do—can often turn around a sale.
7. Keep in touch
Always ask for the contract at the end of the meeting, but don’t expect to get it right then. Instead, ask when the company expects to make a decision. Plan to stay in touch with the prospect with a polite e-mail expressing your eagerness. Then call back weekly until you get a yes or a no. Never take a lack of response as a personal affront or a lack of respect. I’ve seen many contractors make this mistake, firing off nasty missives that burn bridges.
8. Know when to walk away
As with any successful negotiation, have an acceptable fallback or compromise position. For your own long-term happiness and reputation, it's better to walk away from an unfair deal than to accept a gig you perceive as unfair
Let's be honest. Are you (and your business) forgettable?"You know what I like about you? You don't care what anyone thinks!"That...compliment...came from my mother-in-law when she first saw the eggplant painted walls in my living room. It's true, we are not living our lives ready for resale here. My husband and I won't play it safe and squelch our creativity within our own home. Our lives are not neutral statements.Why tell you this? Frankly, I see crushing levels of mediocrity out here in suburbia and when I get out and surf the web to check out some of your businesses, things don't look much better. So much creative inhibition in the lives
Prepare a compelling response for each potential objection the client may have for hiring you. Such objections may include:
- Attractive options proposed by the competition
- Your rates
- Estimated turn-around time
- Internal bureaucracy/resistance
4. Create a sense of urgency
Most companies know that excellence is in high demand. If the prospect seems on the fence about a decision, you can point out that--while you’re excited and eager to work on his project—your other clients are asking for your time, and you’ll need to reserve space for him soon. (Assuming this is true) Make sure you first understand why the prospect is hesitating. If he has undisclosed constraints that put a decision on a longer timeline, he could walk away.
5. Provide an incentive
Many contractors add some financial wiggle room to their bids to protect themselves from unforeseen costs. If your rates are fair, you’re comfortable with a smaller “disaster” cushion, and this client will likely be a good source of contracts in future, you can sometimes cement the sale by offering a small discount on this contract or contracts in future. ** Not sure if you're charging the going rate? Check out our free rate comparison tool **
6. Avoid auctions
Competitive bidding situations are usually a losing proposition for contractors. You either lose the contract or you lose money by steeply discounting your rate. You can avoid a competitive bidding situation by letting the prospect know—nicely—that you don't bid against other companies or individuals. Instead, stress your value. More experienced consultants are simply more efficient and thus less expensive in the long run.
If your prospect has another, much lower bid, make sure the bid is for an equal level of service, and that the company is a peer in expertise and experience. Ask your prospect to check with references for both sides. Reference checking—which surprisingly few companies do—can often turn around a sale.
7. Keep in touch
Always ask for the contract at the end of the meeting, but don’t expect to get it right then. Instead, ask when the company expects to make a decision. Plan to stay in touch with the prospect with a polite e-mail expressing your eagerness. Then call back weekly until you get a yes or a no. Never take a lack of response as a personal affront or a lack of respect. I’ve seen many contractors make this mistake, firing off nasty missives that burn bridges.
8. Know when to walk away
As with any successful negotiation, have an acceptable fallback or compromise position. For your own long-term happiness and reputation, it's better to walk away from an unfair deal than to accept a gig you perceive as unfair
Before we begin, I want you to think about how many times you actually sought out an advertisement. How did you know where to look for it? Why did you choose that one? Whether you know it or not, the number of times you were exposed to the message has a huge impact on you. Also, the message and how it made you feel had a large influence on your response.On the other side of the table, how do you know how well people are responding to your advertisement? If you are spending your hard earned cash advertising, you should be able to tell exactly what type of response you are getting and be able to track the performance of your ads.The above are two se
6. Avoid auctions
Competitive bidding situations are usually a losing proposition for contractors. You either lose the contract or you lose money by steeply discounting your rate. You can avoid a competitive bidding situation by letting the prospect know—nicely—that you don't bid against other companies or individuals. Instead, stress your value. More experienced consultants are simply more efficient and thus less expensive in the long run.
If your prospect has another, much lower bid, make sure the bid is for an equal level of service, and that the company is a peer in expertise and experience. Ask your prospect to check with references for both sides. Reference checking—which surprisingly few companies do—can often turn around a sale.
7. Keep in touch
Always ask for the contract at the end of the meeting, but don’t expect to get it right then. Instead, ask when the company expects to make a decision. Plan to stay in touch with the prospect with a polite e-mail expressing your eagerness. Then call back weekly until you get a yes or a no. Never take a lack of response as a personal affront or a lack of respect. I’ve seen many contractors make this mistake, firing off nasty missives that burn bridges.
8. Know when to walk away
As with any successful negotiation, have an acceptable fallback or compromise position. For your own long-term happiness and reputation, it's better to walk away from an unfair deal than to accept a gig you perceive as unfair
You've set up a meeting with a potential client. You've dressed appropriately, your shoes are shined. You've got your portfolio and your business cards, and you have an idea of what you want out of the meeting. In a word: you want business.This is the way 95 per cent of small business people approach meetings. However, if you spend a little more time preparing your presentation, you'll make a more powerful impact and will get more work.The major rule is: when you've landed a meeting, always make a proposal. Have a clear idea of exactly what you want. You present your proposal via a carefully scripted, and rehearsed, presentation. This is not the time to l
7. Keep in touch
Always ask for the contract at the end of the meeting, but don’t expect to get it right then. Instead, ask when the company expects to make a decision. Plan to stay in touch with the prospect with a polite e-mail expressing your eagerness. Then call back weekly until you get a yes or a no. Never take a lack of response as a personal affront or a lack of respect. I’ve seen many contractors make this mistake, firing off nasty missives that burn bridges.
8. Know when to walk away
As with any successful negotiation, have an acceptable fallback or compromise position. For your own long-term happiness and reputation, it's better to walk away from an unfair deal than to accept a gig you perceive as unfair. Ill feelings damage the quality of work and poison your job satisfaction. If the prospect is unreasonable in the negotiation process, the chances are they'll be unreasonable to work with, too. Sometimes it’s better to move on to more promising opportunities
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