EchelonOne Consulting

How to Pitch a Great Idea

Mon, 09 Apr 2012 20:40:00 +0000

You’ve got a great new idea. All you need is the right partner, distributor or investor. A common question I’m asked is, “How do you go about pitching it?”

Get out and meet influential people. It's often one of the toughest things for entrepreneurs to warm up to, but over time, reaps the most rewards. You’d be surprised at some of the connections you'll make…connections that can lead to a face-to-face with a decision-maker.

People invest in you as much as they do your idea. Find yourself a champion or two who can introduce you to potential distributors or investors through networking or one-to-one meetings. Let them see your enthusiasm and commitment.

Having said that; you'll need to have a polished "elevator" pitch where you can explain the key benefits of your idea in about 60 seconds.

As for your written documents, I usually suggest:

A quick leave behind or "warm up" summary of your idea. It's usually one page. (Think of this like a sell-sheet, similar to an Executive Summary in a business plan...written so that it highlights the benefits to the partner, distributor or investor.) Include a second page that talks about you and your credentials. You’ll use these as the preamble to getting that all important face-to-face meeting.

Your full blown business proposal/plan. Present this to your serious prospects (usually at or after the first face-to-face). Remember that the point of it is to show them:

the feasibility of your idea
how they can make money with it
why you’re the perfect one to help them do it
how you plan to make it happen
demonstrated profitability and growth

How about you? Do you have a great idea you’d like to pitch?

Simple = True: Simple Messages Sell More

Tue, 13 Mar 2012 00:05:00 +0000

The simpler you say something, the more you’ll be believed.

This isn’t just an argument for clean, crisp writing. Scientists who study cognitive fluency* have proven it’s a fact. If you can say something simply and convincingly, you’ll build credibility.

With credibility comes trust. And, people buy from businesses they trust.

The Problem: There is a growing glut of information on the web today. There’s so much information, often poorly written, that readers can barely wade through the flood of words to find what they need.

The Opportunity: Search engines look to content to help your website get found. Getting found on the web is a good thing. It brings more potential clients to your virtual door than any other means possible. If you can summarize your message simply and clearly, you’ll greatly improve your believability and trust. Trust is what turns that click into a paying customer.

Some Tips to Simplify Your Message

Know what you want to communicate before you write it. It sounds simple, but this step is often overlooked. What if you had to choose only one message? What would it be? Remember to state it from your client’s point of view.

Remember who you’re writing for. Speak in language that your client understands. Avoid “industry speak” and long sentences. If a two-syllable word will do the trick, you don’t need four.

If you have to write something technical and detailed, start with a quick summary of the key points. Then lead your reader into more detailed explanation. That helps a potential client see the benefits upfront without having to wade through the detail. Repeating the benefits also helps to reinforce them.

Is your message simple enough to be understood…and believed?

*Cognitive fluency is a scientific measure of how easy it is to think about something. Psychologists are only beginning to understand the surprising extent to which fluency guides our thinking (and decision-making).

Building a Business Community

Mon, 13 Feb 2012 00:45:00 +0000

Your hand is made up of four fingers and a thumb. Did you know that these five digits are 40 times stronger when they work together? This got me thinking…can the same principle apply to businesses?

Small BusinessConnect: This past September, four other business owners and I started a community-based business networking group called Small Business Connect. Though we’re still in our infancy as a group, I’ve already seen the benefits of business people pulling together to create opportunities and find solutions. Here's a sample of some of these benefits:

Joining Forces: Businesses with similar target customers packaged their services to create an offer that a single business couldn’t easily pull off on its own.
Opportunities: A business owner got called on to speak when a presenter baled out at the last minute…and picked up 6 new clients from the experience.
Dance Cards: Business owners are meeting over coffee, not to make a sales pitch, but to learn about the other person’s business. Why? So that they can recognize an opportunity to refer a potential client. (One of our mandates is to encourage these dance cards*.)
Finding Solutions: Owners talk about problems that are common amongst the group…and help each other to find solutions.

The Makings of a Business Community: We started out thinking that we were creating a networking group. I now realize what we’re creating is a business community. These first steps have been exciting. I can’t wait to see what we can accomplish in a year. Two years. Five.

Which got me thinking…what would happen if you could get the majority of businesses in a community to work together this way? In a province? In a country?

How much better would our economy be?

What do you think?

*Dance card: A business meeting where two people spend equal time educating (note: not selling) the other person about their business.

Who spearheaded Small Business Connect?

Debbie Ouellet, EchelonOne Consulting

Sinda Simpson, ESS Direct

Shane Serra, WSI-We Simplify the Internet

Patricia Dent, Inciteful Solutions

Faye Zevenbergen, FBZ Accounting Solutions

Everything is Possible - New Year Resolutions

Fri, 06 Jan 2012 18:45:00 +0000

Recently, I heard someone say, “Stop yourself when you start placing limits on the future…because it hasn’t happened yet, everything is possible.”

That’s one of the beauties of a new year. It is new. And because the year hasn’t happened yet, everything is possible.

But I’ve also been in business long enough to know that those possibilities don’t just happen. You have to go out and get them. A big part of that is planning and setting goals. That’s why I update my business plan each December. And why I set New Year resolutions.

New Year Resolutions: Choosing a business resolution is easy. I just pick one of the goals from my Business Plan. I also think it’s important to include one personal resolution. Balancing your business and personal life can be tricky. If you don’t pay attention to it, you may find that balance slipping away from you before you know it.

Here are my resolutions for 2012:

Business Resolution: Improve my online presence by posting monthly articles and distributing them more widely across the web.

(Hint: You can help me with this by commenting on, “liking” and sharing articles when you see them.)

Personal Resolution: At the end of each week, remember to count my blessings.

I’ve included a section at the bottom of my Fridays in my daily agenda where I’m going to list them.

So, welcome 2012! I’ve set my New Year resolutions. Now it’s time to act on them. Because, hey, everything is possible!

Do you set New Year resolutions? Why or why not?

Five Days of Twixtmas - What will you do for yourself and the world?

Fri, 09 Dec 2011 20:20:00 +0000

“Five days to change your world.” That’s the motto of the Twixtmas campaign, the brainchild of the Flexible Thinking Forum. I came across it recently and plan to add it to my ‘twixt and ‘tween time to make a positive difference over the holidays.

What is Twixtmas? It’s the five day period between Christmas and New Years.

How Does it Work? Do something positive on each day to change your world. Here’s how it works:

Day 1: Do something selfish (for yourself)

Day 2: Do something unselfish

Day 3: Do something for a friend

Day 4: Do something for the planet

Day 5: Do something for your future

What are my Twixtmas plans? They recommend you do five good things per day. Here’s a sampling of mine:

Day 1 - For myself: Sleep in and read that great book that's been waiting patiently on my shelf.

Day 2 - Something unselfish: Offer some mentoring time for a new business owner who's struggling.

Day 3 - For a friend: Ask a friend what they need to make their life better (then find a way to help them get it).

Day 4- For the planet: Pick up feed for all the furry and feathered friends in my neighbourhood and put it out for them.

Day 5 - For my future: Put the final touches on the updates to my business plan for 2012 and commit to making them happen.

You can find out more at: www.twixtmas.com

Do you have plans for Twixtmas?

December - Time to: Analyze. Think. Commit. (Then Write it Down)

Mon, 28 Nov 2011 19:25:00 +0000

December is one of those pivotal months. It heralds the end of one year and the dawn of another. For many of us, it’s a month when business slows down. If you live a hectic business life like I do, this is a great time to find some breathing space and think time. I like to spend this time reviewing my year so far against my goals.

I’m a big fan of tracking my marketing and sales activities throughout the year. What worked? What didn’t? Once I’ve done some analysis, it’s time to set some goals and plans for next year. To make sure I don’t lose sight of them, I write them down as updates to my business plan.

For example: Last December, I realized that, though I was networking, I wasn’t devoting enough time to it. I made a goal of attending an average of two networking events each week. I added joining a formal and targeted networking group as a way to reach that goal.

How did I do? I’ve consistently met my target of two per week and often exceeded it. I joined BNI and this past September helped launch a new business networking group. How does that translate into results? As of writing this article, 47% of my revenues can be tracked directly to networking activities.

Analyze. Think. Commit. That’s the process that works best for me. And, a big part of the “commit” is writing it down. There’s something about putting words to paper that makes it real and concrete.

So, what will my plans for 2012 be? For sure, they’ll include networking. But I don’t think I’ll plan to do more of it. There’s just so much of me to go around. But I am going to get better at it. How? I’ll have to analyze and think on that. And then, you can be sure, I’ll commit by writing it down.

Do you have any favourite planning strategies for December?

King Kong or Rin Tin Tin?

Thu, 25 Aug 2011 19:35:00 +0000

When you write to a client about your business, do you approach it like King Kong or Rin Tin Tin?

We’ve all seen the King Kong approach to writing. “Me big. Me the best. Me the cheapest. Me the smartest. Me. Me. ME!” Businesses thump their literary chests and shout about their achievements from every rooftop.

While all that noise might catch a person’s attention, it certainly doesn’t engage them. Or make them want to buy from you.

Remember that great dog, Rin Tin Tin? Little Jimmy would be drowning in a river full of crocodiles. Rin Tin Tin would dash to the rescue and pull him to safety.

That’s what a potential client wants you to be…Rin Tin Tin saving them from that problem that feels like a river full of crocodiles.

Great business writing isn’t about you and what you can do. It’s about what your clients need, the problems that keep them awake at night—and how you can help clients solve them.

Put Yourself in Your Client's Shoes: If you want to use the Rin Tin Tin approach for your business message, first put yourself in your client's shoes.

What burning problems do they need help with?
How can you help them?
What makes them say "yes" when they're deciding to purchase?
How do your products or service stack up?

If you don't know the answers to those questions, ask. You'll be amazed at how focused and clear you'll become once you know the answers. Then write your message in a way that speaks to your client, never at them.

Do you have any favourite Rin Tin Tin stories you'd like to share?

The Secret Sauce for a Winning Proposal

Thu, 28 Apr 2011 20:06:00 +0000

Does the idea of writing a business proposal send cold chills down your spine? Here are three simple ingredients for making the secret sauce that greatly improves your chance of hearing “yes.”

Ingredient #1: It’s all about your reader

Leave your ego at the doorstep. A great business proposal isn’t about who you are and what you have to offer. It’s about what your potential client wants and needs and how you will meet those needs.

Think about those people who will read your proposal and decide whether or not to choose you. What are they like? What motivates them to say “yes”? Do some homework. Ask questions. Review websites, online profiles, vision and mission statements, news releases—anything you can find about them. Make a list of the key things you find. Prioritize the information by what you think will have the greatest impact.

Ingredient #2: Find the connection

Compare your company and what you have to offer to the list you’ve made above. Where do you connect? Find where your strengths, culture and service offerings match their needs and wants. Make a corresponding list.

For example: You discover that your potential client has a mandate to do business only with environmentally conscious companies. You were operating green long before the trend. Make a note to stress this in your proposal.

Caution: If you’re struggling to find a connection, consider rethinking your target client. You may be fishing in the wrong pond.

Ingredient #3: Draw the lines

You’ve learned all about your readers and decision makers and made a list of connections. Now it’s time to draw the lines so that your readers can make the same connections.

I usually recommend that my clients choose the three main messages they’d like to convey in their proposal. Choose your three from ingredients #1 and #2 above. Sure, you’ll probably tell your reader more than three things. By deciding what to focus on, however, you’ll highlight the key messages upfront, and you’ll repeat them more than once.

Resist the urge to make one of the most common mistakes in writing proposals—telling your readers everything you think they could possibly want to know (and then some). Focus on your key messages and give your readers just the information that they need to make a decision to move to the next step.

Quick Tip: These three basic ingredients can be applied to any type of business writing, whether you’re trying to sell a service, a product or an idea.

The Most Common Mistakes on Websites

Tue, 11 Jan 2011 18:56:00 +0000

Anyone who knows me knows that I’m all about words. How we communicate and the words we choose to do so speak volumes about who we are and how we do business. Nothing contradicts a strong message more than sloppy writing, poor grammar and typos.

It’s difficult to visit a website, blog or online post today without finding at least one mistake, front and centre, for all to see. It’s not uncommon to find many.

You don’t need to be a professional writer to keep your text clean and crisp. A little care and attention can make a world of difference to the online face that you present to the world.

Outlined below are a few of the most common typos and grammatical errors I’ve witnessed on the many websites and online posts that I’ve visited.

The Most Common Mistakes

Its or it’s? Its means “belonging to it,” such as “XYZ company announced its first quarter results.” It’s is a contraction (the joining of two words using an apostrophe) of the words it and is. For example, “It’s the best value for your dollar.”

Your or you’re? Your means “belonging to you,” such as “Your blog article was great!” You’re is a contraction of the words you and are. For example, “You’re my first choice for a business partner.”

There, their or they’re? There involves a position or place. For example, “Put it over there.” Their means “belonging to them,” such as “Their idea offered the best value.” They’re is a contraction of the words they and are. Example: “They’re my best type of client.”

Then or than? Then involves a place in time or a progression through time. For example, “First write, then edit.” Than means “in comparison to”, such as “We bring greater value than our competition.”

Run-on Sentences: Most people find it difficult to grasp and retain more than one main idea in a sentence. Run-on sentences are often as much as a paragraph long. They happen when multiple ideas are linked with the word and or a comma. A quick fix is to replace the word and or the comma with a period and then begin a new sentence.

Here is an example of a run-on sentence: Give your client the best value for their dollars spent, which doesn’t mean the cheapest price…but first, understand your client and what they value and need, then design your product or service accordingly and do your homework to know what price your market will bear and then stay competitive.

Here’s how it looks when you separate your ideas into short informative sentences: Give your client the best value for their dollars spent. This doesn’t mean the cheapest price. First, understand your client and what they value and need. Design your product or service accordingly. Do your homework to know what price your market will bear. Then stay competitive.

Tip: If you’re going to publish what you’ve written, have someone else proofread it first. It doesn’t need to be a writer or an editor, just someone with a good command of the language and an eye for detail. Even professional writers take this step before showing their work to the world. Why not you?

Question: Do you have any pet peeves about typos on websites and online posts?

Image credit:Freedigitalphotos.net Photographer: Filomena Scalise

A Time for Crossing Over - Year Ends and Beginnings

Wed, 15 Dec 2010 16:07:00 +0000

For many of us, the months of December and January are pivotal times. Ends and beginnings. Reunions and separations. Remembering and moving on. They are rich in the rituals of family: reunion, storytelling, reaffirmation, returning to your roots. They are times of crossing over:

sorting through the tangled strings of our lives
making choices
discarding the unwanted bits
beginning again

A Time for Reunion: Whether you celebrate Christmas, Chanukah or Kwanzaa, December is the month when families (both families by blood and those “families” we choose) unite—cross cities, continents, and oceans to reaffirm, "This is home. This is where I come from. This is who I am."

A Time for Crossing Over: As one year ends, poised for another to begin, each of us, whether consciously or not, takes stock of our accomplishments and failures, our roles and place, our beliefs and needs. We ask the inevitable questions:

Who am I?
Why am I here?
Where do I fit into this helter-skelter world?
Have I done my best this past year?
How could I have done better?

There is a pivotal moment for many of us—a threshold where we leave behind the person we were in this waning year and decide what person we will become in the dawning of a new year. I’m one of the many who solidify this experience by making New Year’s resolutions.

How did I do in 2010? You can read my 2010 Resolution Recap at the end of this article.

A Time to Plan: For business owners, these months are for weighing plans and goals against our accomplishments. What worked well? What didn’t? We add one more year’s wisdom to our business tool belt and apply it to our plan for the next. We write it down.

A Time for Goodbye and Hello: These pivotal months are our opportunity to take stock, adjust—hold on to the triumphs and stories of our lives—discard the pieces that drag us down. Say goodbye to the me of 2010. Say hello to the possibility of a better me in 2011.

May it be so for everyone of you.

2010 Resolution Recap

My 2010 Business Resolution: Attend at least three networking functions per month.

Reality: It was tough getting into the habit initially, but I made myself do it. As I became more comfortable with networking, it became less of a chore. Now I find that I actually enjoy it. These days I’m averaging two per week.

My 2010 Personal Resolution: Keep in touch with good friends. Be there for them in times of need. Have lunch/coffee with colleagues and writer friends at least once each month.

Reality: I started off the first half of the year strong, reuniting with some colleagues I hadn’t seen in years. Then came summer. Vacations and busywork got in the way. I never did pick up the threads come September. I’ll need to carry this one over into my 2011promises to myself.

(Image courtesy of jscreationzs and FreeDigitalPhotos.net)