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  • Will You Add? - Converting Consultations into New Business!

    How to Size an Emerging Market
    In developing their business plans, companies of all sizes face the challenge of determining the size of their markets. To begin, companies must present the size of their “relevant market” in their plans. The relevant market equals the company's sales if it were to capture 100% of its specific niche of the market. Conversely, stating that you were competing in the $1 trillion U.S. healthcare market, for example, is a telltale sign of a poorly reasoned business plan, as there is no company that could reap $1 trillion in healthcare sales. Defining and communicating a cred
    here in the range of X – Y hours.” Again, be sure to make the range wide and, if anything OVER-estimate your time, leaving some wiggle room for extra time. Doing this will not only answer the prospective client’s question as to your fees, but it will also help you to get a good idea of where your prospective client’s head is. When presented with your estimated range of hours and your hourly rate, was her reaction: “Oh my goodness. That’s a LOT!” or was her reaction simply: “OK. That sounds fine.”

    If her reaction was the former, you can ask a few clarifying questions to find out what she expected to pay for your services. With that information, you can then educate the prospective client on what her expected budget would cover (for example, you might say:

    Medical Billing - EA0 Record Fields 39 Through 55
    If it seems we've been covering the EA0 record for medical billing of claims for a while now, that's because this record has more info than almost all the other records in the file. We pick up with EA0 record field number 39 in this installment.EA0 field 39, positions 209 - 241, is the lab/facility name. This is the legal name of the facility or lab where any work was done. This is a mandatory field and must be filled in or the claim will be denied.EA0 field 40, position 242, is the documentation indicator. There are a number of fields in electronic me
    First, I find that too many design professionals display a lack of confidence. Notice I said “display” a lack of confidence. You may feel that you ARE confident and, in fact, you very well may be. However, you may not realize how your body language, facial expression, the tone of your voice, etc. is “coming off” to prospective clients. Remember: a person’s perception is that person’s reality. Put another way, if someone perceives your actions, speech and mannerisms as lacking confidence, that is what they will think of you – regardless of whether their perception of you is true or not. Their perception of you IS true for THEM.

    Before you get out of your car to go into your next consultation, take a moment to reflect on ALL your past successes. Recall that big project you completed on time and within budget. Recall your client’s reaction of joy upon seeing the new space you created. Revel in a job well done…..and EXPECT that the same will happen for you again!

    Earlier this week, I happened to come upon a saying. I don’t know who said it, but it makes my point perfectly:

    Winners expect to win in advance. Life is a self-fulfilling prophecy.

    Take this advice to heart. Expect to WIN! Expressing confidence is a HUGE part of converting a consultation into new business.

    Second, when the issue of budget or fees comes up, many design professionals look like a deer caught in a headlight. Your eyes may start to glaze over as your mind races, thinking “What should I say? How can I answer that? I don’t want to scare them [the prospective clients] away.” Does that sound familiar?

    Before you go into a consultation, you should have a clear understanding of your pricing strategies, your fee structure, etc. I often recommend that my clients charge on an hourly basis. That way, if the scope of the project changes or the client needs to go on several unexpected shopping trips, you are being properly compensated for your time. The point here is: know in your mind what you charge and be confident that your fee offers good value to the prospective client.

    One other thing to keep in mind: EXPECT a prospective client to ask you about your fees. They’ve expressed interest in your services by asking you into their home to talk about a project. Expect to wow them such that, after getting to know you during the consultation, they will want to hire you. Well, before they can make an intelligent decision as to whether to hire you, they need to know what you will charge for your services.

    Now I’m not talking about giving them an estimate of your fees (I would NEVER suggest that). Rather, be upfront and unapologetic when you announce your hourly rate. If pressed, you may offer a range – and, I would suggest, you make the range rather broad – of the number of hours you would expect to spend on their project. When I say “range”, I mean range. So you might say something like: “As I’ve said, no two projects are alike, so I don’t know how much time will ultimately be spent on your project. However, I would expect somewhere in the range of X – Y hours.” Again, be sure to make the range wide and, if anything OVER-estimate your time, leaving some wiggle room for extra time. Doing this will not only answer the prospective client’s question as to your fees, but it will also help you to get a good idea of where your prospective client’s head is. When presented with your estimated range of hours and your hourly rate, was her reaction: “Oh my goodness. That’s a LOT!” or was her reaction simply: “OK. That sounds fine.”

    If her reaction was the former, you can ask a few clarifying questions to find out what she expected to pay for your services. With that information, you can then educate the prospective client on what her expected budget would cover (for example, you might say:

    Barking Up the Wrong Tree Can Eliminate Large Sales
    While this might seem like a dog story it really isn’t. It is about salespeople who find they are working like a dog and getting little or no results. In some cases, they are in fact, barking up the wrong tree, or in this case person(s). This article is about selling the right product to the right person. It is about knowing who to sell the technical stuff to and who to sell the financial Return On Investment (ROI) information to. It is about finding the person who can say yes and convincing those who can say no that they should say yes.Finding the painA
    t big project you completed on time and within budget. Recall your client’s reaction of joy upon seeing the new space you created. Revel in a job well done…..and EXPECT that the same will happen for you again!

    Earlier this week, I happened to come upon a saying. I don’t know who said it, but it makes my point perfectly:

    Winners expect to win in advance. Life is a self-fulfilling prophecy.

    Take this advice to heart. Expect to WIN! Expressing confidence is a HUGE part of converting a consultation into new business.

    Second, when the issue of budget or fees comes up, many design professionals look like a deer caught in a headlight. Your eyes may start to glaze over as your mind races, thinking “What should I say? How can I answer that? I don’t want to scare them [the prospective clients] away.” Does that sound familiar?

    Before you go into a consultation, you should have a clear understanding of your pricing strategies, your fee structure, etc. I often recommend that my clients charge on an hourly basis. That way, if the scope of the project changes or the client needs to go on several unexpected shopping trips, you are being properly compensated for your time. The point here is: know in your mind what you charge and be confident that your fee offers good value to the prospective client.

    One other thing to keep in mind: EXPECT a prospective client to ask you about your fees. They’ve expressed interest in your services by asking you into their home to talk about a project. Expect to wow them such that, after getting to know you during the consultation, they will want to hire you. Well, before they can make an intelligent decision as to whether to hire you, they need to know what you will charge for your services.

    Now I’m not talking about giving them an estimate of your fees (I would NEVER suggest that). Rather, be upfront and unapologetic when you announce your hourly rate. If pressed, you may offer a range – and, I would suggest, you make the range rather broad – of the number of hours you would expect to spend on their project. When I say “range”, I mean range. So you might say something like: “As I’ve said, no two projects are alike, so I don’t know how much time will ultimately be spent on your project. However, I would expect somewhere in the range of X – Y hours.” Again, be sure to make the range wide and, if anything OVER-estimate your time, leaving some wiggle room for extra time. Doing this will not only answer the prospective client’s question as to your fees, but it will also help you to get a good idea of where your prospective client’s head is. When presented with your estimated range of hours and your hourly rate, was her reaction: “Oh my goodness. That’s a LOT!” or was her reaction simply: “OK. That sounds fine.”

    If her reaction was the former, you can ask a few clarifying questions to find out what she expected to pay for your services. With that information, you can then educate the prospective client on what her expected budget would cover (for example, you might say:

    Do You Need A Cool Company Logo Or Would A Stinker Be More Effective?
    The debate over how much of a companies large reserves of spending power should be spent with greedy, oafish design agencies rages on and is not about to be resolved in this trite article, however we can suggest some alternatives to the usual company logo ideas and perhaps for once bad could be the new good...or something.A company logo should make you stop and think... How many times have you heard your design manager or someone from the marketing/advertising department going on about the need for a clever logo or a design that 'thinks outside the box'? In
    n’t want to scare them [the prospective clients] away.” Does that sound familiar?

    Before you go into a consultation, you should have a clear understanding of your pricing strategies, your fee structure, etc. I often recommend that my clients charge on an hourly basis. That way, if the scope of the project changes or the client needs to go on several unexpected shopping trips, you are being properly compensated for your time. The point here is: know in your mind what you charge and be confident that your fee offers good value to the prospective client.

    One other thing to keep in mind: EXPECT a prospective client to ask you about your fees. They’ve expressed interest in your services by asking you into their home to talk about a project. Expect to wow them such that, after getting to know you during the consultation, they will want to hire you. Well, before they can make an intelligent decision as to whether to hire you, they need to know what you will charge for your services.

    Now I’m not talking about giving them an estimate of your fees (I would NEVER suggest that). Rather, be upfront and unapologetic when you announce your hourly rate. If pressed, you may offer a range – and, I would suggest, you make the range rather broad – of the number of hours you would expect to spend on their project. When I say “range”, I mean range. So you might say something like: “As I’ve said, no two projects are alike, so I don’t know how much time will ultimately be spent on your project. However, I would expect somewhere in the range of X – Y hours.” Again, be sure to make the range wide and, if anything OVER-estimate your time, leaving some wiggle room for extra time. Doing this will not only answer the prospective client’s question as to your fees, but it will also help you to get a good idea of where your prospective client’s head is. When presented with your estimated range of hours and your hourly rate, was her reaction: “Oh my goodness. That’s a LOT!” or was her reaction simply: “OK. That sounds fine.”

    If her reaction was the former, you can ask a few clarifying questions to find out what she expected to pay for your services. With that information, you can then educate the prospective client on what her expected budget would cover (for example, you might say:

    IT Support for Small Businesses - How to Build Your Business Without Breaking the Bank
    Building a small business is hard work. In the initial period of most small businesses, one or two people are trying to do everything until the business grows enough to diversify functions and hire assistance. While you are trying to develop products and/or services, you are also trying to build infrastructure to support the business functions. Chances are, if you are the kind of person who is focusing on product or service development, you probably are not the person with the breadth technology information to build your own infrastructure.Our experience workin
    them such that, after getting to know you during the consultation, they will want to hire you. Well, before they can make an intelligent decision as to whether to hire you, they need to know what you will charge for your services.

    Now I’m not talking about giving them an estimate of your fees (I would NEVER suggest that). Rather, be upfront and unapologetic when you announce your hourly rate. If pressed, you may offer a range – and, I would suggest, you make the range rather broad – of the number of hours you would expect to spend on their project. When I say “range”, I mean range. So you might say something like: “As I’ve said, no two projects are alike, so I don’t know how much time will ultimately be spent on your project. However, I would expect somewhere in the range of X – Y hours.” Again, be sure to make the range wide and, if anything OVER-estimate your time, leaving some wiggle room for extra time. Doing this will not only answer the prospective client’s question as to your fees, but it will also help you to get a good idea of where your prospective client’s head is. When presented with your estimated range of hours and your hourly rate, was her reaction: “Oh my goodness. That’s a LOT!” or was her reaction simply: “OK. That sounds fine.”

    If her reaction was the former, you can ask a few clarifying questions to find out what she expected to pay for your services. With that information, you can then educate the prospective client on what her expected budget would cover (for example, you might say:

    5 Steps To Turbochare Your Success!
    Let's take an imaginary journey. Better yet, imagine that you wish to take a driving trip across the country from New York to San Francisco. There are more than a couple of ways to head out on this trip. But, you have limited time and resources, AND you want this trip to be productive, enjoyable, and NOT stress-inducing.Which of the two following approaches makes the most sense: (A) Saying "I'm going to San Francisco" then jump into your vehicle, and head out with no planning? Or, (B) creating a mental picture of how you'd spend your time (and money) in San F
    here in the range of X – Y hours.” Again, be sure to make the range wide and, if anything OVER-estimate your time, leaving some wiggle room for extra time. Doing this will not only answer the prospective client’s question as to your fees, but it will also help you to get a good idea of where your prospective client’s head is. When presented with your estimated range of hours and your hourly rate, was her reaction: “Oh my goodness. That’s a LOT!” or was her reaction simply: “OK. That sounds fine.”

    If her reaction was the former, you can ask a few clarifying questions to find out what she expected to pay for your services. With that information, you can then educate the prospective client on what her expected budget would cover (for example, you might say: “I understand your budget is about $500. For $500, I could come up with 3 different layouts and offer ideas on paint colors.”). Whatever you do, do NOT discount your fees. Instead, try to educate the prospective client on a realistic estimate of time to accomplish the project and, if the estimated fee amount is too high, offer to work within her budget by suggesting tackling a PORTION of the work. In this way, you send the message that you value your time and that you are a professional.

    Bottom line: be confident in yourself as an expert and be ready to talk money. As I’ve indicated, a little preparation can go a long way toward converting a mere consultation to your next project. Good luck!

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