IDEAS FOR IMPACT!                         
Business Tips & Advice from Akamai Consulting
February 2008
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Greetings!

I hope that 2008 is shaping up to be a great year for you!

One of our resolutions at Akamai Consulting this year is to choose clients carefully and work within our strengths.  Part of this process is learning the 'red flags' that signify a client relationship that might not be productive.  I hope that the first article in this newsletter helps you accomplish the same end in your own business.
 
Avoiding Bad Customers
By Trish Thomas, Owner of Akamai Consulting

Bad Customer

Sometimes your instinct is to land every customer at all costs. Many professionals spend an enormous amount of time and effort pursuing prospects.  Once you've taken the energy to track down the decision-maker, make follow up calls, and attend meetings - it can be hard to pass on a customer. But not every prospect is really a good candidate for taking your career or business forward. In fact, some of them can be detrimental to both your mental health and bottom line!

Everyone can think of a few nightmare customers they've had to deal with. If you watch for early warning signs, you can often identify problems before they ever get the chance to hire you or do business with your company. Here are some telling statements that clue you in to prospects who should never become customers:

1. "We can't make a commitment to you, but please hold this deal open for us."  It's never a good idea to reserve time or product for a customer who cannot give you a confirmed schedule or obtain the necessary approvals. If your customer won't commit to you - you shouldn't commit either.

2. "We aren't able to get your contract signed or cut a check before you start, but we'll do it soon."  Don't make the mistake of trusting a customer to make good on verbal promises. Too many professionals can tell horror stories about completing work or delivering goods before realizing they weren't ever going to get paid. Remember that you have lost your greatest bargaining chip once your customer has your work or your products in hand.

3. "I know we've met five times already, but we'd like to meet with you again to talk more about what you can do for us."  Meeting with a prospect once, or twice, or even three times is often necessary and productive.  But when potential customers ask for multiple meetings and endless talk without committing to anything, you should be wary.

4. "We want to hire you, but we can't afford to pay you what you're asking. Will you help us for less?"  Prospects who ask you to cut your prices by 20% or more obviously do not value you as a professional. They're just looking for rock bottom rates, and they don't care about quality or service. If they want to contract with the lowest bidder, let them.  Just don't let it be you!

5. "We would like a discount because we can send you lots of business in the future."  A deal in exchange for future referrals may seem like an acceptable tradeoff at first glance, but consider the implications. You'll be locked in to earning less on this deal and you have no guarantee of any return. More often than not, customers who request a "volume discount" never deliver on the volume.

6. "I know we've ignored your calls for a month, but now we need you to start tomorrow."  Potential customers who disappear and then resurface with a crisis will probably behave exactly the same way at later dates. You don't want to work for someone who constantly translates their own lack of planning into your problem.

7. "We've hired people like you before, and none of them worked out."  It's always tempting to think that you can be the one who will succeed where others have failed. Unfortunately, customers who complain that they can't find good help usually have no one to blame but themselves. They're often demanding, unclear on their needs, or not willing to be flexible and make changes. You don't want to see your reputation ruined when you become the next person they complain about, so be very cautious.

8. "I know what we need is not what you usually do, but we really want you to handle this for us."  It can be appealing to take any sort of work a prospect offers you.  But when you work on jobs you don't enjoy or lack experience in, they can sap your energy, distract you from your core business, and generate referrals for the wrong kind of work - creating a vicious cycle of underachievement.

Prospects that undervalue or take advantage of you don't deserve to become customers. Don't ignore warning signs, because they can consume your time without payment, keep you trapped in under-earning, and hold you back from finding valuable, long-term customers who will truly appreciate the products or services you have to offer.  It can be hard to let go of a prospect.  But make sure you spend your energy pursuing only the best customers - and leave the rest to the competition.  You don't really want them anyway!

A Few Thoughts on Gratitude...

   Gratitude unlocks the fullness of life.
   It turns what we have into enough and more.
   It turns denial into acceptance, chaos to order, confusion to clarity.
   It can turn a meal into a feast, a house into a home, a stranger into a friend.
   Gratitude makes sense of our past, brings peace for today, and creates a
        vision for tomorrow.
                                                                  Melody Beattie

Take a moment every day to thank the people around your for their contributions to your happiness and success.  Consciously watch for opportunities to feel gratitude about positive things both large and small.  Remember that almost every resident of the United States is among the top 10% of the wealthiest people on the face of the earth.  That alone is reason to be grateful!

What Color is Your Parachute?
By: Richard Nelson Bolles
February 2008 Book Review
Parachute

21 LawsFinding a job today presents unique challenges that did not exist a decade ago.  That's why Richard Nelson Bolles' acclaimed job hunter's bible, " What Color is Your Parachute?" is so relevant. This common sense little book encourages you to implement time tested as well as new strategies in finding meaningful employment.

"Parachute" emphasizes the necessity of finding your mission in life in order to obtain meaningful employment. Not to be content with simply drawing a paycheck, the author encourages the reader to uncover those areas of personal interest that can be translated into a rewarding as well as relevant career.

Bolles' folksy and friendly writing style has endeared him to over eight million readers since the initial publishing of "Parachute" in 1970. Revised annually, I recommend you read the latest version of his book as it speaks to the current nature of the job market.
Let no one ever come to you without leaving better and happier. 
~Mother Teresa
 
Be an Inspiration Today!

Trish Thomas
Akamai Consulting, LLC
In This Issue
Avoiding Bad Customers
A Few Thoughts on Gratitude
What Color is Your Parachute
FREE Marketing Seminar Series
BWLG Meeting - March 12th
Learn about the Victory Circle
Quick Links
PMFCU
FREE 3 Part Series on Marketing!
At the Longmont Branch of PMFCU on March 13th, 20th & 27th from 5:30 - 7:00, Trish Thomas and Gretchen Anthony will be offering a series of 3 FREE seminars on marketing your business. 

Contact Kelly Kessler at (303) 657-7223 by March 11th to reserve your spot!





Chamber
Join us March 12th for the Business Women's Leadership Group!
Stop by the Spice of Life Event Center
at 8:00 am
on March 12th
for a great presentation on Projecting Personal Confidence.

Register online now at www.boulderchamber.com





VC
Do you want more victory in your life?
The Victory Circle is an intimate networking group for women that offers education, inspiration and support.  Join us February 26th at Turleys from 5:30-7:30 to experience this powerful group of women.

www.victorycircles.com