Years ago when my business was only a few years old, I
attended a dinner party with my then-husband. JZ introduced me to an attorney who was a good friend of his
cousin. When "Stuart" asked what I
did, and I told him, he mentioned they were planning to put on a series of
seminars on personal injury and negligence for the general public.
I
asked how they were going to market their seminars. "Well," he replied, "we're afraid of getting too many
people; so we're not going to advertise in the dailies (there were two then),
just the weeklies." I looked at
him and replied without hesitation, "If you're going to market in a half-a'd.
manner, you're going to get a half-a'd. response."
Stuart
looked me up and down for a moment, then asked what I charged. When I told him, he requested that I
call him the next day so we could set our first appointment. That was the beginning of a long
relationship. Professionals had
only been given the green light to market a few years prior, so we virtually "grew
up" together; Stuart, in learning how to market his growing practice (already
at seven partners) and I in helping professional practitioners navigate the
murky marketing waters. Over the
years I lost count of how many times he so generously referred us.
Last
week I heard a version of this rationalization for the umpteenth time. "I heard what you just said in your terrific
talk, but I can't afford to grow too big; I need to be able to spend a certain
amount of time with each client."
This
might sound admirable at first, but it's marketing logic gone wrong. If you don't want to grow too big, you're
simply setting yourself and your company up to get what you're asking for.
Here's
why: when one markets there's what
I have named the "delay factor." That's the time between when you market and individuals/companies
respond. Over the years the delay
factor has grown longer and longer. No surprise here. The Internet,
email, social media, cable TV, online media - all have contributed to our being
on information overload. Our best
intentions often get lost through stress, being overwhelmed and good, old
procrastination.
When
this woman, whose business by the way is a primary target for decision
procrastination, says she's afraid of getting too busy, she's not taking into
account the delay factor.
Here's
what I tell clients: market your heart out, keeping in mind your Marketing Plan's
budgets of money, people and time. If your marketing concentrates on the face-to-face, voice-to-voice and
educational strategies, you'll see success pretty quickly. That should help you and your employees
become pretty busy.
Busy
enough, actually, that you'll soon be thinking of hiring another person. Your cash flow will not quite sustain another
employee at this time, however; so you set a pretty ambitious revenue goal to
achieve for three consecutive months.
Now,
here's the rub. Don't wait until you've reached that revenue goal. When you're clearly 80-85% there,
that's the time to start your serious search for your next employee.
Business
owners muck this personnel strategy up every time, by waiting until they're overly
busy. Then, in addition to
servicing new clients/customers, they have to recruit, study resumes,
interview, hire and train. A high
stress level encourages settling for people who simply aren't a fit, because
you're too exhausted to continue your hiring process until you find the ideal
person.
Once
you see the positive direction in which you're headed, if you gamble a bit, your
new employee will be well through the learning curve, as you actually hit that
magical goal.
Yet
there's another aspect to your growth mindset: if you truly want to be only "so big," you'll still have to
market continually at some level. Change is certain. Clients or
customers leave, move away (and then want only to work with a local firm), take
longer and longer to make buying decisions, switch to your competitors, start
to purchase online because they're certain they're saving money. You get the picture. There's nothing so constant as change,
which means you have to keep acquiring more business to replace what you've
lost.
If
you're so afraid to market for fear you won't be able to handle the business,
you won't be on anyone's radar screen; and your business will gradually
decline.
If
you're in business, be in it to win it!
Don't limit your sights!