Friday, July 31, 2009

How to Make Money Out of Networking

Think about this:

At your local peer networking events you meet with self-employed consultants just like yourself.

You each have marketable skills, and seek a way to improve your business position by finding ways to sell your skills to paying clients.

We have already established that you’ll not get rich from folks who grudgingly pay $10 to get a cup of coffee and a chance to chat with you. Again.

Here are two events from yesterday:

I met with Rick Shea and we spent three hours coming up with an idea that we hope will launch his business into a revenue-maker, and will involve me in the back-end of the scheme. Together we make a very powerful business model out of a good but unsupported business.

I am not denigrating Rick. If you like, “I can help Rick by producing computer stuff that makes Rick’s package do-able”.

I chatted with Alison Silbert on the phone. We appear to be on the brink of a scheme that will marry my computer talents to her marketing skills. She will generate revenue from a service to business clients, and I will make revenue from streaming to her the information she needs to tap each client on the shoulder.

In both cases I am meeting with a fellow networker, and rather than taking money from them, I am making money with them.

In Rick’s case, we are “in it together”; we present a single face to the world, the Rick-and-Chris team that help you measure your impact.

In Alison’s case we operate as a chain that starts with a vast source of data, passes through me to produce information of value to Alison, and then passes through Alison to be of value to her clients.

I’m not taking money off Rick; I am taking money of Alison, but only the money that she is getting from her clients as a result of my efforts,.

Do you see the difference?

Thursday, July 30, 2009

How NOT to Make Money Out of Networking

Think about this:

At your local peer networking events you meet with self-employed consultants just like yourself.

Most of you are working out of the home office, eating rice, pasta, or whatever your situation is.

You are out there looking for business, and …

Business is the exchange of two pieces of paper, one of which must be a cheque.


Neither you nor I want to part with our money, we want to GET money, and since none of us wants to part with our money, spending time at, or after, a networking event trying to persuade a fellow consultant to part with money is a futile waste of time, and an insult to your joint intelligence.

Stop reading for a few seconds, and add up, roughly, how many thousands of dollars you have made from your peer networkers over the past year.

That was easy, wasn’t it?

And if you spent even one MINUTE trying to earn zero dollars, then by definition, that minute was a total waste of time.

Tomorrow: How to Make Money Out of Networking

Wednesday, July 29, 2009

Why I Don’t Read the Newspapers

It has been many years since I bought a printed daily newspaper.

I am in the habit of scanning five daily newspapers via the web and reading some stories.

But since I started my automated scan of Canada News Wire I find I am less and lest interested in the muggings and house fires , and more interested in what’s going on in business.

I think that this is a good thing.

For starters, I probably ought not be skimming the local and international press during business hours when I could be phoning or meeting with people.

I don’t need any other reason than that, do I?

I understand more now the people reading The Financial Times on the subway. They aren’t poseurs at all. I should be meeting with them.

Friday, July 24, 2009

The Bootlegger

… is still with us.
I have formatted and encrypted Margaret’s new external drive; I have backed up her existing drive C: installation to a folder in the external drive; I have formatted drive C: and used the non-Microsoft Windows CD which she obtained by pestering the computer salesman.
But where is Microsoft Office?
Not on her laptop; because there is no CD in her kit; because the salesman didn’t supply one.
He dropped a mirror of an installation on her new laptop a year ago; she obtained the Windows XP CD by pestering him a fortnight ago, at my suggestion.
Now she faces a trip back to the store to pester him for the office CD.
Assuming he believes her when she says she paid for it.
Assuming she still has the invoice and it specifies that she purchased Office XP.
Otherwise Margaret is yet another victim of a scam whereby a store sells a laptop computer “With Windows and Microsoft Office installed”, but is not prepared to package the original or certified copies of the CDs.
I believe that the store bets that only 1 in 100 customers will ask for the masters; most customers will trash the laptop after three years and purchase a new one because “this laptop is too slow for today’s work” (rough translation: “I don’t believe in regular maintenance”).
Of those customers that return to the store to pay to have the computer fixed, most will be happy to get their computer back with the mirror reinstalled, their data gone, and their wallet $250 lighter.
Here comes the bottom line:
At 4 p.m. on Friday afternoon, there is no way Margaret can reach the store before it closes. The store is closed weekends. Monday morning is the earliest she can confront the guy, and even then he may weasel out of the deal.
Margaret has lost her weekend, that’s for sure!

Thursday, July 23, 2009

The Daisy Chain

More thoughts on networking: I attended another networking meeting this morning - a breakfast meeting, about 20 members and 20 visitors.
20 visitors is a captive audience.
I listened as each member stood up and gave their elevator speech (after which the visitors did likewise), and realized that one could put on quite a show if one daisy-chained the businesses.
For example, when buying/selling a house, finance is involved, also moving, then decorating, and so on.
The real estate guy could give the elevator speech, and then pass to the finance gal, who gives her elevator speech and passes to the house-moving and storage guy who hands off to the landscape gardener who hands off to the interior decorator who passes the baton to the housewarming party caterer, who … well, at this point you get the idea.
I pass it on to you.

Wednesday, July 15, 2009

Strike that Meeting?

· Yes, the strike is still on.
· Yes the networking group announced closures at three locations, but not the fourth.
· Yes, I went to the meeting at the fourth location.
· Yes it was closed.
· Yes I spent an hour traveling for nothing.
Whether you are for or against the strike, you are FOR the networking meeting.
Just because someone is on strike, we don’t let our business relationships slide into the pit.
I continue to be puzzled that the organizers of today’s (and tomorrow’s, and tomorrow’s …) meeting don’t post a contingency plan on the web site: “The meeting presentation will not take place, but you can still build relationships by making your way to Druxy’s Deli on the North side of the street”.
· Druxy’s will love the extra business.
· Networkers cherish a chance to build new business relationships.
· And the organization maintains momentum.
But sadly, today, they have not demonstrated “Improvise, Adapt and Overcome”.
Business have to if they are to survive.

Thursday, July 9, 2009

The Mountain and Mohammed

Two issues here
Issue One
I delivered two days training last week, and at the end of the course confirmed the spelling of the names of all attendees, printed the certificates and mailed them off.
Two days later an email from my client “You forgot to sign the certificates”.
She is right, I did.
I don’t feel like asking the client to expend resources on my mistake, so I have rented a car for Friday to drive 45 minutes west, sign 12 certificates with a regular ball-point pen, and that’s it.
An Eighty-Dollar mistake, and one I had better learn.
All is not lost.
I emailed a client on the OTHER side of town and set up a lunch date; they agreed. So I’ll get a bit more use out of the car rental - a face-to-face meeting with a client I would not otherwise meet.
Issue Two
I attended a seminar this week and exchanged business cards with about six attendees. One telephoned me today, “Let’s meet to let me show you what I have to offer. How is your schedule?”.
My schedule is free, but I don’t own a car (see “Issue One” above), and I don’t feel like spending an hour each way on Public Transit to have someone try to sell me something.
Since my potential supplier lives downtown and drives to work alongside a major highway, I suggested that she drive to me and I’d buy breakfast, lunch or an early supper. We could discuss business over a casual meal.
No go.
She doesn’t do business that way; it is “sit down with paper and pencil”, which is, coincidentally, how I like to do business.
After some cajoling I wheedled a concession from the person who’d like to take my money, that we might arrange a meal at some unspecified date in the future, when, if she is in the vicinity on other business, she could kill two birds with one stone.
And I’m paying for the meal. No problems there.
Conclusion
Whether they request it or not, it seems to me that is the seller’s responsibility to adapt to the buyer’s requirements.
If adaptation can not be achieved, then the two parties are probably too far apart to do business.

Wednesday, July 8, 2009

The World’s Best Support Line

Now this you HAVE to do:
Dial the free line to Hostgator.com (1-866-96-42867) during peak business hours and get put on hold!

Learn how to handle support calls.


I dialed at 11:28 a.m. this morning, chose Tech Support, and was rewarded with a recording that said “There are 16 callers ahead of you.”. Now normally that’s enough to make me postpone the call until, say, 3 a.m., but the music that clicked in was soft classical music, soothing to the worried brow.
And what a tension-wracked time this is - I need to transfer eight domains from scattered (and scatter-brained) servers across the face of the earth to one site. Not a task I perform regularly, and so a task in which I fear making any kind of mistake.
Less than a minute later the pleasant voice came on again this time to say “There are 14 callers ahead of you. Your estimated wait time is 10 minutes”.

Think about that!


I can leave the ‘phone on the desk and go pour myself a cup of coffee.
Less than a minute later the pleasant voice came on again this time to say “There are 12 callers ahead of you. Your estimated wait time is 10 minutes”.

Think about that!


If their previous experience is correct, I can leave the ‘phone on the desk and go pour myself a cup of coffee AND water the rhubarb on the balcony.
Less than a minute later the pleasant voice came on again this time to say “There are 12 callers ahead of you. Your estimated wait time is 9 minutes”.

Think about that!


HostGator is working WITH me to help me to get the most out of my day.
Time In line Wait (minutes)
11:28 16
11:29 14 10
11:30 12 10
11:31 12 9
11:32 11 9
11:33 10 9
11:33 9 8
11:33 8 8
11:34 7 7
11:34 6 7
11:35 5 6
11:35 4 5
11:36 3 4
11:36 2 4
11:37 1 NEXT
The table above logs the story.
I must tell you that around 11:35 when I was 5th in line, a frisson of excitement shot through me; I felt much as I did in high school at examination time when the examining teacher would announce “In two minutes time you may turn your papers over and start work”.
I was not under test, of course, but “the moment of truth” was drawing close.
If anyone from HostGator reads this, I’d appreciate it if you could track down the extremely patient and helpful “Barbara” who listened to me, and gave me the information I needed.

I was tempted to offer her a job in my office.

Tuesday, July 7, 2009

After the Networking Meeting

It was a good meeting; I learned something from the speaker and exchanged a few business cards, had one inquiry about something I do. I came home, typed up my notes and now stare at a small stack of cards.
I will enter them into my contact list but then what?
The speaker talked about “getting people on your list”, and emailing them something of value.
What on earth do I have of value to these few people?
What do I have in common with them?
Well, we were all at the same meeting, so why don’t I email to them a copy of my notes?
They might appreciate some recorded ideas that they missed, or they might just appreciate getting something over and above the generic “It was good to meet you” text.

Monday, July 6, 2009

No Fixed Address

Do you do business with people who do not have a brick-and-mortar address?
I was about to add a recent contact to my contacts data base, name, phone, email, address - you know the drill - when I discovered that I could not locate their address.
I don’t mind that there is no address on the business card - after all, The Primary Purpose of a Business Card is to Get the Other Person to Phone You!
My contact has two major web sites, neither one of which offered an address, not even a post office box number.
I am aware that some of my contacts use a fake-office - the downtown address where calls can be taken, meeting space booked, and mail forwarded, but I figure even there, there is some sort of hard link to the real person, if only through the rental contract.
I’ve ignored contacts with flimsy cards, a cell phone number only, and a postal code that Google Maps says is a downtown hotel. I figure that’s a room rental for a few weeks to see if the business has potential before moving on to the next city.
My business is personal. I’m a very flexible hard-working one-man show.
My business relationships are based on me and another person, usually a representative of another company with an office site, warehouse, industrial facility or similarly visible structure.
Some of my contacts are just like me - one man shows operating electronically out of a home office. That’s OK too. I understand that. I live it!
I don’t need your home address; my business is not that personal, but somehow I feel I need to know that there is something to touch.
How about you?
Do you do business with people who do not have a brick-and-mortar address?

Monday, June 29, 2009

Management Measures

I was brought up on this in my second job.
Quantify!
There are four basic quantifiers, we were taught: numeric, date/time, Boolean and geographic.
As much as possible my writing, and especially my proposals, bear all of these four quantifiers peppered throughout the document.
A classic ending is “Cost $500.00 plus applicable taxes. Chris Greaves can begin the study on receipt of a 50% deposit at 4340 Bloor Street West; Suite 401; Toronto; Ontario; CANADA M9C 2A6 by 5:00 p.m. Monday, 19 October 2009”.
Today I hit on a new quantifier: COLOR!
I have a modest proposal to put before the networking group at our meeting tonight.
I’ve printed it off an a sheet of blue paper.
I figure if the executive are showing interest in it (for example, reading it during the speaker’s presentation), it will be easy to spot.
I may even be able to record who has read it by the end of the evening.

No Excuses!

I haven’t owned a car for several years. I rent a car when needed, or cadge a lift off someone I know going to the same function, tossing in some cash for gas money.
Tonight’s networking meeting is, annoyingly, about 10 KM to the east of me, but is not accessible by public transit. A cab fare is going to set me back about $20 + tip each way. Add in the entrance fee and it starts to add up.
My attitude towards life is “No Excuses!”. In this case I can hear the excuse starting up at 9:00 a.m., a full ten hours before the meeting. “I don’t have a car”, “It’s too far”, ‘It’s too expensive”, “The bus doesn’t go anywhere near there”, and so on.
Enter a brainwave!
A colleague, a self-employed technical writer lives a mile west of me.
I invite Paul to come along and tell him part of the deal is that he has a car, and I’ll pay his entrance fee and gas money. Together they aren’t going to come anywhere near $40.
I save some cash AND have some conversation AND look good in the eyes of the networking group, because I’m introducing a guest to the event.
Paul gets an opportunity to network in a group he has not met before.
The networking group has another opportunity to shine in front of a newcomer.
That’s not a win-win situation; it’s a win-win-win situation!

Thursday, June 25, 2009

How Not to Do Business

I am arguably the smallest client of any laser toner cartridge supplier. While not paper-less, I am definitely frugal in my use of the printer.
I left a message for my supplier, asking them to call me so that I could place an order. The message was not returned. A subsequent call was interrupted with “I have a supplier on the other line. I’ll call you back”. Two days later I received an email “I do apologize for not getting back to you any sooner as I am running out the door once more!”.
I don’t know, but I am inclined to think that my days of being the smallest client at my supplier are over. My orders truly are not in the Global League.
Off to the world wide web and I locate a promising supplier, based in Vancouver BC but proudly boasting warehouses in both Toronto and Mississauga. I live on the border between those two cities.
I dial the 1-866 number, and no matter whether I opt for Sales, Customer Support, Technical or even the “Zero” operator, I am greeted with the same recorded message “Please leave your number”.
I’m not inclined to spray my number around with anyone with whom I’m not (yet) doing business, so I fire off an email asking for a number, and receive by reply “Sorry all lines were busy. Please send your Phone Number by this email and we will contact you shortly.”.
I don’t believe that all their lines are always busy. I believe that they don’t speak directly with potential clients (or, I now realize, existing clients for that matter!).
Back to the web.
Around mid-day Wednesday, June 24, 2009 I locate Precision Toner of Concord, just off the Northern Boundary of Toronto.
Yes they carry those cartridges.
Yes they can deliver them.
Yes the price is right.
And YES! I’m talking to a real-live human being who answers all my questions and promises me that the cartridges will be delivered next day.
I am, by now, flat out of Magenta; my printer is dying grayishly.
I write this testimonial to customer service at 15:30 Thursday, June 25, 2009.
The carton of cartridges was dropped off by UPS fifteen minutes ago.
I am back in business.
As, arguably the smallest client of Precision Toner.

Wednesday, June 24, 2009

Post Cards

Flushed with my success with Ken King (http://www.sourceimaging.ca/), I decided that a set of postcards would be a good idea. My colleague Michael Belfry is a master at this. I can’t reach his level, but I can come close.
I figured on a dozen sets of cards, one for each of 12 topics, to be mailed out at monthly or bi-monthly intervals.
The Canada Post web site tells me minimum and maximum dimensions for a post card within the allowable range for regular letter rates.
I decide to go with the minimum size - 9 cm x 14 cm. I figure I’ll get more cards per sheet that way.
A simple spreadsheet tells me that I can get the most small cards per page (4!) by using a legal size sheet in Landscape mode.
A call to Ken reveals that his sheets go as big as 46 cm x 31 cm or thereabouts.
I recalculate and find that I can for 2x5=10 small cards per sheet.
(In typing this I now realize that I don’t have to go to the smallest allowable; I can expand my size until I reach the limit for 10 cards per sheet. I stretched to 9.13 cm x 15.22 cm).
Ready to roll, I email the specifications - full color, glossy both sides, images etc. I issue a sample document showing my return address in the top-left corner (Canada Post tells you which parts of the card you may/not use), and ken calls me.
In passing we discuss that return address. Do I want it black?
I realize that that side is my mass-mailing side, and it had better be printable; certainly not full gloss!
Saved by communication, drafts, “measure twice cut once” my carpentry teacher taught me.

Tuesday, June 23, 2009

Business Cards

It’s not what it used to be.
Twenty years ago I ordered business cards, it took two weeks and a box of 1,000 cards cost me a small fortune.
On Sunday I emailed a word-processing document with my mockup to a printer.
On Monday afternoon I could have checked the proofs, but had another appointment.
Tuesday morning I checked the proofs for a small order of 250 cards.
They will be available for pickup Wednesday morning.
$65 (includes all taxes).
The speed and cost reduction seems to be the result of digital printing technology. Film or plates do not have to be set up.
In fact, I could probably do the job myself if I had a suitably calibrated guillotine. Assuming that’s what they use to trim them down to size!
(Tuesday, June 23, 2009 4:00 p.m)
“We got lucky” says Ken King (http://www.sourceimaging.ca/), as he drops them off at my door six hours later.

Friday, June 19, 2009

Volunteering for Profit

No, it is not about dollars, at least, not immediately, and it is about doing something for free. But it will be profitable.
I’ve recently joined a networking group, paid the annual fee, attended my first meeting, and waddyaknow? They were asking for volunteers.
Well in my experience volunteering is a great way to meet people, so since I joined the networking group to meet people, why not volunteer, right?
Bonus! The task at hand is to telephone a dozen or so members prior to each meeting, to remind them to come to the meeting.
I can be painfully shy on the telephone, but here is a good reason/excuse to call some people I don’t know, introduce myself by name, and perhaps strike up a short conversation with them.
Life just gets better.
I’m not sure whether I’ll be calling the same dozen people each month, or whether the grouping will change.
If the group remains the same, it is a chance to foster deeper relationships.
If the group changes it’s a chance to make contact with each member of the group.
I just can’t lose!
Wednesday, October 07, 2009
What about the case where a volunteer organization wants you to contribute the service that you charge your paying clients for (accounting, marketing, technology, etc.) With paying clients you can give them as much service as they are willing to pay for. With paying clients, I don't say no. I say, "It will cost this much," and let them decide yes or no. With volunteering, you run into, "If it's free, I'll take 10." Drew Mathers www.almost-painless.com/index.html
True.
If the AIC (a special-interest group of which I am a member) wants me to spend an hour a month doing what I do best ("Hitting the phones"), then I'll do that, even 'though it is something I could get paid for by client. If the AIC wants me to clean up a couple of dozen documents to a consistent format, I'll do that too, even 'though I can get paid big bucks for doing 80,000 documents at a time for a law firm (these are unashamed plugs for my business!).
Donating my time and/or services is by definition a give-away.
It is when the load on this "volunteer" exceeds some well-defined number of hours or dollars that I should dig in my heels.
In the article above I was trying to convey the impression that rolling up one's sleeves was a lot more fun that sitting in a chair, and I feel sure that you know that.
I have been approached by non-profit organizations who, on the basis of their non-profit status think that I should donate my services. I say no, because I reason that they have enough cash to rent a large office and pay a salaried staff of four. They have an operating budget. I have no separate office and no salaried staff. I feel that the money should flow towards me in these cases, not away from me.

Thursday, June 18, 2009

A Doomed Project

The telephone call is unexpected and to the point: “I need an MS Office 2007 Trainer for six months to train 500 people for a Real Estate Organization Corporate.”
That’s it!
I ask for more details, there are none. “But surely your client sent you a bit more than that?”, I query the agent on the other end of the telephone.
No.
That’s It!
Now either the client has much more data and is not supplying it to their agent, or the client has no data. You can’t have it both ways. (I am assuming that the agent is not lying to me!)
If the client has much more data and is not supplying it to their agent, then the client is not playing fair with their agent, and that suggests that they will continue to play unfair; neither I nor the agent can come out of this looking good.
If the client has no data, then the client is basing decisions on bad data, and decisions based on bad data are always bad decisions; neither I nor the agent can come out of this looking good.
Six-months of training involving 500 people in a new version of Microsoft Office is a major undertaking, contract or not. Here are some of the questions that a true professional would ask:
· What is the current level of expertise in each of your 500 staff members?
· What applications of Microsoft Office 2007 need to be taught?
· Which of your 500 staff need training in which applications?
· To what level should each staff member be brought?
· What channels best suit your staff? Classroom, one-on-one, web-conferencing, self-paced study?
· What acceptance tests do you have in place?
· How will you decide or know when the training has been successful for each and every one of the 500 staff members?
· What realistic corporate data and problems can be established to make the training meaningful to your 500 staff members?
· What follow-up (“booster”) training will be required?
· Do you have an established technical channel, such as a newsletter, that will allow staff members to pool their knowledge after the formal training is ended?
· What provision will you make for after-hours technical help in the delivered areas of Microsoft Office 2007?
· What Microsoft Office 2007 course material do your possess?
· What Microsoft Office 2007 course material can you provide?
· Will the instructor be required to develop specialized material for specific areas of interest?
· How much time will be set aside for the instructor to develop such material?
· How much time will be set aside for the instructor to respond to out-of-course questions?
· How do you plan to deal with questions from your 500 staff members which are not covered under the broad umbrella of “using Microsoft Office 2007”?
· Will you need a set of tests or follow-up questions prepared to asses your 500 staff members new level of knowledge?
The true professional needs to know whereabouts on the spectrum the work is sited. Will the trainer be required merely to read-from-the-book and assist students as they work through the exercises, or at the other end, will the trainer be required to analyze the needs of the 500 students and develop training materials suitable for each grade of student?
At the lower end of the spectrum, which I call “Walk in whistling, with my hands in my pockets”, I would be prepared to charge a low rate; after all, I’m not being asked to do much more than show up in a clean shirt and nudge people along.
At the higher end of the spectrum, which I call “Slave long nights developing stuff”, I would charge a high rate; after all, I’m being asked to do much more than show up in a clean shirt and nudge people along; I am being asked to draw on my 40 years of training experience to develop material ideally matched to this particular client.
The overriding question that should be asked, but never gets asked is “How did you come up with a figure of six months?”. Has a survey been done to find out how many people need a session with how many programs in the Microsoft Office Suite? If not, on what measured facts do you base your figure of six months?
I thought so!
I just checked this out with my buddy Bill who is a “mechanical drawer” and he agrees with me. He would feel the same way if someone asked him to make up drawings for air-conditioning ducts for a twelve-story building, without telling if each floor was identical in layout, the number of rooms, required temperature gradients, and so on.
Doomed from the start.
Tuesday, October 06, 2009
Chris, This exposes one of the myths sincerely held by the technologically naive. The belief is that technology and related services can be purchased as a commodity, like a bag of sand or a toaster. This is expressed in your example as the belief that there is a Microsoft Office course, delivered by a single method, suitable for all students in all situations. From this point of view, the client can see their request as perfectly rational. Drew Mathers www.almost-painless.com/index.html

Tuesday, June 16, 2009

The Toronto Entrepreneur

Business Development
Tuesday, June 16, 2009
An occasional muse on some event along the path of developing and nurturing my business.