August 2005

COACHINGTRAININGWORKSHOPS

Handling Competition©

Nothing brings on the cold sweats for a business owner or professional as much as hearing that a business or practice similar to their own is coming to town and plans to set up shop a short distance away. This kind of news definitely destroys the peace in their own little Camelot. Yet, all of us know that, realistically speaking, this happens all of the time in business.

When one of my coaching clients calls with panic in her/his voice and asks for guidance in handling an upcoming competitor's move into "their" territory, I set an appointment for us to deal proactively with this unpleasant reality. In our coaching session, we cover, among others, the following topics to arm my client with strategies and plans to deal in a positive way with this situation.

1. Do your research. Obtain information about the business/practice. It's easy to worry about "unknowns" and obsess over rumors. Do your research to learn the facts. Where will they be located? How large is their business/practice? Are they national or local? If they are a public company, use the Internet to obtain valuable information including their annual reports. Learn every detail you can about them.

2. Assess the company/practice. Now that you have pertinent information about them, compare their company/practice to your own. Where are you similar? Where are you different? What are their strengths? (Everyone has some.) What are their weaknesses? (Everyone has some.) What do they offer that you don't offer? What do you offer that they don't offer? Don't just talk about these comparisons. Put them on a chart where they are clear and visible.

3. Detach from the information. This means, "Let it go!" Be aware of what is happening with them but don't obsess over it. You can't do much about them anyway.

4. Perform a thorough and complete evaluation of your own business/practice which includes covering the following.

A. List your strengths.
B. List your weaknesses.
C. Describe your niche market.
D. Identify your key clients.
E. Select one core strength and create a new marketing program around it. Saturate the market as much as your time, resources and budget allow. Do this before your competition moves in.

5. Stay in touch with your current clients. If you are already doing this, create some new incentives and rewards. Give them even more reasons to stay with you.

6. Learn the values, ethics and working style of your competition.

7. If you have similar values, ethics and working styles, explore ways you can collaborate. Chances are, you each offer things unique to your own businesses. Devise ways to collaborate. Refer prospects to them if they provide a product or service that you don't provide. Ask them to do the same.

In coaching sessions, my client and I work on each one of the points mentioned above and create strategies around them that relate directly to my client's needs and business. These strategies become a blueprint for their success.

Competition is not a dirty word. It's a fact of life and one of the things that makes our capitalistic society work. It's not the end of the world; it's the beginning of new opportunities. Stay focused on your niche market, yourself, and what you offer and you won't have the time or desire to worry about new competition.

Keeping Clients For Life^©

Presented by Donna M. Reed, Trainer and Life Strategy Coach
Tools For Achievers

Wednesday, September 28, 2005
11:30 am to 1:30 pm
Kingfisher Restaurant, 2564 East Grant Road, Tucson
(1 block east of Tucson Blvd. on south side of street)

• Learn the meaning of "Keeping Clients For Life"
• Identify your clients' core values
• Create strategies to serve your clients at their deepest level
• Learn the top four secrets for developing loyalty in clients

Donna has been offering business workshops for twenty years.
Her sessions are interactive, informative, valuable and fun!

Cost of $25 includes workshop, networking, luncheon, comprehensive handouts and copy of booklet, "Networking Tips That Build Powerful Connections."
To register, call (520)299-8199 or click here.

 

Summer's Last Fling

During August, we realize the vacations and down time are quickly coming to a halt. Very soon, we will be in the fall mode of gearing up for increased business activity, children returning to school and football games to watch. Before it's all a faint memory, treat yourself to one last "summer fling." Take a day trip up Mt. Lemmon where it's cool and the energy from new growth can be felt in the air. Go to an expensive restaurant with a special friend for one last splurge. Buy that new book you have been wanting. Wander around in the mall without looking at your watch.

Whatever it is, make it your official last fling of summer. Then, you can "officially" get into the swing of fall with all of its increased activities and demands.
 

  - Donna M. Reed, Trainer and Life Strategy Coach
 

Networking for Fund Development©

If you serve on a non-profit Board of Directors, you know that one of the key functions of boards is to raise funds. Many of us balk at the idea of asking for money or helping with fund raising events.

I offer a workshop, "Networking for Fund Development" that is designed to assist board members develop new attitudes toward fund raising while learning techniques and strategies for creating long term funding sources. If you are on a non-profit Board of Directors or involved with an organization to raise funds, call me at (520)299-8199 to see how this workshop can assist you and your organization.

"Donna Reed's workshop, "Networking for Fund Development," helped the Board break through fundraising barriers."
-- Diane Katz, Ph.D., Chairman, Board of Directors, The Haven
 

Copyright © 2005 Tools For Achievers