Qualified Prospects

The Funding Roadmap: Align Your Story, Team and Sales Process

The For Impact Funding Roadmap has been built, tested, and refined in working with thousands of organizations to raise over $2Billion. Though each organization is unique, we believe the Roadmap has universal application – Whether you’re a startup, a college running a large campaign, or an international NGO – every funding initiative needs a STORY, a TEAM, and a FUNDING PROCESS.
[Download the PDF.]

Here are some quick thoughts on the Roadmap. [We’re also leading a teleseminar this Tuesday with more explanation, examples and help to APPLY the Funding Road Map to your funding. Register here.]

Design your STORY

The funding roadmap begins with STORY.  A great story is anchored in hope-filled purpose, simplifies what you do, and serves as a litmus for action.

  1. Simplify your MESSAGE. Message is what people HEAR, not what you SAY. What do we want people to HEAR? Ultimately, this should be a message about CHANGING, SAVING, or IMPACTING lives.
  2. Create your FUNDING RATIONALE. A Funding Rationale is why you need the money, and what you will do with money. Another way of thinking about this is around defining the ask. (Most organizations don’t have a good ‘ask’.)
  3. Design your PRESENTATION. The ‘ASK’ is an experience. We actually stop to think about the complete experience, from predisposition, to the environment, to the materials.

Really important point about STORY. This is not just a ‘funding thing’ – It guides your IMPACT and provides MEANING for your TEAM.  Organizations so often enter a cycle of strategic planning – I wish there was a norm to enter into a cycle of STORY planning!

Develop your TEAM

Jim Collins says, “First WHO, then WHAT.”  With our Funding Roadmap we might say, “First WHY, then WHO, then WHAT!”  

  1. Commit to SALES.  Every organization needs to STOP and make a commitment to sales. What does this mean for your team? For your organization? For your strategy/resources?  
  2. Engage LEADERSHIP.  Leadership needs to be bought into the STORY and likely even the source of the STORY. Leadership also needs to be bought into the model.  
  3. Model TEAM SELLING.  This is about defining roles and responsibilities for staff, board and champions.  

    Important note: In a true sales model, your board is not responsible for fundraising! In a true sales model there is a role for board members that is very different from saying they are responsible for fundraising.

FUND your VISION

  1. Identify/ Prioritize/ Strategize your PROSPECTS.  Prospects. Drive. Everything.
    There is a lot to say on prospects (that’s why we have a whole guidebook) but here are some key points:

    • Focus on your top prospects
    • Focus ‘top-down’
    • Present the Opportunity (And don’t make decisions for your prospects!)
    • When building a strategy ask this question, “What would it look like to maximize this relationship?”
    • Maximize relationships at this given moment
  2. Just VISIT. In the words of the prolific sales trainer, Brian Tracy, “Spend more time with better prospects.” We’ve been teaching this for years. There is so much value in the old maxim, “JUST SHOW UP.”
    The visit is the entire context for the ASK. It has three parts:

    • Predisposition
    • The Presentation
    • Follow-up
  3. Just ASK. This is kind of an alpha/omega to everything we teach.

Finally, it’s worth tying this all together as it relates to the For Impact Point of View:

Impact Drives Income.  

Impact is about your STORY.  

You need a PROCESS to make the INCOME happen.  

And, PEOPLE drive everything!

Share:

The Difference Between a ‘Natural Partner’ and a ‘Relationship Manager’

Here’s a topic that comes up often with some of our coaching clients – Especially when there is lack of role clarity around maximizing relationships!

A NATURAL PARTNER (N.P.) is a person (either inside or outside of your organization) who has a strong relationship with your organization and an existing relationship with the Qualified Prospect(Q.P.) – Or a reason to believe one can be established quickly!

Externally, Natural Partners can be on your Board, they can have a business relationship with the prospect, they can be members of the same club or organization or they can be fellow community leaders, etc.

Internally, the Natural Partner can be anyone from the President/Executive Director to top senior leadership, to a staff/programming person who has a great relationship with the prospect.

It’s important that you determine the difference between a RELATIONSHIP MANAGER (R.M.) and a NATURAL PARTNER.

The RELATIONSHIP MANAGER does not necessarily have to have an existing relationship with the prospect. Their job is to do exactly what it says – MANAGE THE RELATIONSHIP. The Relationship Manager is always a member of the ‘Green Team’ – I.e., directly responsible for maximizing relationships on behalf of the organization/impact. It is perfectly fine for multiple people within the organization to have a relationship with a Q.P. – as long as the Relationship Manager has been defined.

The NATURAL PARTNER can have an existing relationship, or the ability to create one immediately, but most importantly, they play and instrumental role in Team Selling. They can:

  1. Help get the visit! Opening doors is one of the most productive things N.P. can do!
  2. Predispose the Prospect to a great visit! A N.P. can send a great note ahead of the visit – “I know you’re meeting with Sharon on Friday – I’m so excited for the two of you to meet, for you to hear about the vision and getting more involved in our impact! I’ll check in with you after”
  3. Follow Up! A call from the Natural Partner (after a check in with the R.M.) can be hugely beneficial. “How did it go? What did you think? What can I do to help?”

 

Share:

The Leadership Circle: Occam’s Ask

This is an excerpt from the forthcoming For Impact Guidebook about Leadership Circles.

Every organization should have some form of Leadership Circle. In its simplest form, this is ONE baseline-major-gift level of support, positioned as the cornerstone of your annual fund.   The Leadership Circle is not just another giving level – It’s a funding program and a strategic pillar of your funding model that qualifies prospects, simplifies stewardship, provides flexible funding and annuity!

You’ve heard of Occam’s Razor; this is ‘Occam’s Ask’. It’s set at ONE level between $1K and $10K – messaged around your mission and vision in a way that represents your simplest and strongest sell.

HOW TO MESSAGE: (Examples)

  • STORY: “We would like to invite you to be part of the Leadership Circle – a group of 100 families, individuals and/or businesses that are extremely committed to the mission of the YWCA. Membership requires a minimum $10,000 investment in the fund, renewable annually. Each year, these funds will be used to make the biggest impact in the areas of after school programming, innovation and scholarships. But, ultimately, The Leadership Circle is about investing in our vision to transform our community.”

  • COLLECTIVE IMPACT: “This Leadership Circle level is significant because the collective power of its members – providing the core funding support that allows the YWCA to be an efficient organization, responding to the most important needs of women and families in our community. Additionally, this Leadership Circle has the impact of $2M in endowment for each 10 members.”

In working with over 1,000 organizations, I can’t think of a time when an organization didn’t benefit from a Leadership Circle. As a tool, its versatility rivals duct tape.

A FEW WAYS TO USE THE LEADERSHIP CIRCLE:

  • As a QUALIFIER. The Leadership Circle can be a GREAT ASK on a first visit. The story around the Leadership Circle should be tied to your simplest and strongest sell and if someone commits the $10K then you KNOW they are serious about your impact.
  • As a component of your overall FUNDING MODEL and CASE.  It’s helpful for top funders to see that you’re building a base. This should offset the perception (and reality) that you’re going back to the well with the same funders again and again. It’s really helpful to be able to show (in your plan) that at the same time you are asking for LEADERSHIP SUPPORT, you are also building giving-based-relationships through the Leadership Circle.
  • As a MOMENTUM BUILDER.  If you’re working on leadership support for a major project the Leadership Circle can be a powerful momentum builder. It’s one thing to go to your board and announce you THINK you will have some leaders on board. It’s another to back that up with the cash flow and commitments from 20 new memberships in your Leadership Circle.
  • As an ANNUITY and ENDOWMENT EQUIVALENT.  The membership base of support becomes an annuity. For example, 20 families at $10K is $200K per year which is the equivalent of having $4M in endowment!
  • As a FOCUSED way to TEST and BUILD TALENT. Having a Leadership Circle offers a safety valve for new salespeople. “When you don’t know what else to do, ask for a membership.” This is a clarifying directive. Asking for a membership does not eliminate the potential for a larger gift – if anything it qualifies the relationship (offering objective insight to the sales manager.)

    If a new major gifts officer fails to close a $1M gift it could be for a number of reasons. Maybe it’s a prospecting issue. Maybe it’s the story. However, anyone should be able to close Leadership Circle membership.

    Having developed dozens and dozens of new major gifts officers, I cannot emphasize the importance of this idea. It’s the simplest way to build confidence and funding momentum.
  • As an engagement strategy that PAYS. ‘Nuff said.
  • As a STEWARDSHIP CIRCLE. Get rid of all events and focus that energy on just providing stewardship and thanks to your Leadership Circle investors!  Here is an idea, make it someone’s job to simply get every member of the Leadership Circle to your organization to SEE the impact (return-on-investment) in a given year.  Good things will happen.
  • As ‘BUDGET RELIEF.’ Everyone wants ‘unrestricted funding’. A better message would be around budget relief. I would encourage you to try and create a funding model in which the Leadership Circle monies are unbudgeted. You can then report back to membership the IMPACT of their COLLECTIVE investment.
  • As a way to get into a PLANNED GIFT. Participation in the Leadership Circle for a few years offers a rationale to get ask for a planned gift to PROTECT the annual gift.  “You’ve been giving $10K every year as a member of the Leadership Circle. Could we ask you to PROTECT that with a gift from your estate?”  A $200K planned gift would ‘protect’ the $10K.

    Bonus: This can also be part of a TRIPLE ASK.
Share:

No More Special Events: A Look At The WHY

Tom has stood on podiums (literally) for 30 years and shouted NO MORE SPECIAL EVENTS

This works as a napkin message – It’s powerful and simple.

I don’t do the ‘standing-on-a-podium’ thing, but I’m not above shouting IN ALL CAPS to make a point:

NO MORE SPECIAL EVENTS!

I get the occasional challenge, “But Nick, events are how we build relationships!”  Or, “Our event gets the word out!”

In years and years of doing this, no one has ever said, “Our event is our CASH COW!”

WHY are you doing the event?  Is it to raise money? Or, is it for MARKETING? (Start with WHY.)

It’s really helpful to make a distinction between MARKETING and SALES. Here is a great nugget to bridge the relationship between MARKETING and SALES:

It is the job of marketing to provide qualified leads for sales.

I hear many people who want to defend events with a marketing rationale. If you want to run events as a part of your MARKETING STRATEGY – great! Just don’t PRETEND your events are great fundraisers. And if MARKETING is the end goal, then how much are you telling your story at that golf outing?

Also, if you’re going to do an event to ‘BUILD relationships’ then it begs the question – what is your strategy to MAXIMIZE relationships?

NB: We’ve been on this rant for a few decades now. There are events that raise money – a lot of (net, net, net) money. Here are some examples:

  1. The EVENT is the IMPACT. There are some organizations whose impact is using a community’s ability to raise money. For example, Pelotonia here in Central Ohio, which has raised over $100M for cancer research. They are in the event business: the money they raise from one event a year is given directly to cancer research (read: curing cancer!). Pelotonia is in the EVENT BUSINESS – most organizations (i.e., you) are not.

  2. But what about WALL STREET?!?! Those ‘guys’ (I think, often citing Robin Hood as a model) all get in a room and give MILLIONS! This is an anomaly, not a model.  When you can get a bunch of hedge fund titans in a room to throw their egos behind your philanthropy, have at it!

  3. RECOGNITION EVENTS.  These are events where the money was not raised, but simply RECOGNIZED, at the event. In all of these cases, I submit that more money could be raised if we were clearer on the WHY.  While the organization might be ASKING because of an event, people aren’t GIVING because of the event; they are giving because of the IMPACT!
Share:

Order Your Visits Using MO-COs, LEAD-COs and CO-COs

We’re big on the need to have one Master Prospect List! A great MPL rates and ranks your entire pool of Qualified Prospects/Relationships in descending order or importance.  However, deciding who you’re going to see first is very different from simply starting at the top of your Master Prospect List and working your way down.

Instead, begin like Archimedes on his best day by trying to LEVERAGE your commitments – building on each visit and commitment as you move along.

Here’s a great way to think about ordering your visits: ‘MO-COs,’ ‘LEAD-COs’ and ‘CO-COs’.

MO-COs are MOMENTUM COMMITMENTS.

These commitments are not necessarily about magnitude or size but rather ‘COMMENSURATE’… ‘SURPRISE’… ‘STRETCH’ gifts. These are the ‘EARLY ADOPTERS’ who get it, buy in, and provide the MOMENTUM to get going. In Good To Great, Jim Collins’ would call these ‘FLYWHEEL’ commitments. In order to get a FLYWHEEL moving at the beginning, it takes a lot of energy. But once there is some MOMENTUM… the wheel flies!

LEAD-CO’s are LEADERSHIP COMMITMENTS.

LEADERSHIP can literally TRANSFORM the organization, the campaign or the project. These are ‘Top of the Pyramid’ lead gifts that prove that our best prospects and investors have stepped up and give everyone the confidence needed to make the campaign or project happen.

“LEADERS LEAD.” – Bob Werner 

Thanks to my friend Bob, a big time Mensch and Jewish philanthropic superstar, for the quote. I believe that success (or failure) is a direct result of LEADERS LEADING. If no one steps up as the INTERNAL leader, a campaign is doomed from the get go. If you can’t find at least one EXTERNAL leader or CHAMPION, it ain’t gonna happen either. (My preference is 3 CHAMPIONS.)

LEADERS LEAD. Boards, committees, staffs, constituents, stakeholders FOLLOW.

If leaders are not ENGAGED and PASSIONATE,  then it becomes ‘The Suddes Group Campaign’ or ‘The Executive Director’s Campaign’, etc. Tom Mucks, another successful former Suddes Group partner, says, simply: “Passion and commitment from LEADERSHIP will overcome all obstacles.”

CO-CO’S are CONNECTOR COMMITMENTS.

Going after some of your most important ‘CONNECTORS’ early on is a terrific strategy to not only get their financial commitment (which may or may not be significant) but also to generate REFERRALS and STRATEGY on getting visits with your best prospects.

SPECIAL NOTE ON REFERRALS AND 3º OF SEPARATION:

Remember you are only 3º away from any QUALIFIED PROSPECT!! (Forget Kevin Bacon and his 6º – It’s actually been determined that it’s 2.78 ‘moves’/connections between Bacon and all other actors.) CONNECTORS and other NATURAL PARTNERS allow you to be one or two CONTACTS away from your best prospects. This is very, very important! Realizing you are only 3º away from ANYBODY who is a QUALIFIED PROSPECT lets you use your NATURAL PARTNERS (Champions, Board Members, Key Volunteer Leaders, Current Investors) to get you there.

Extra Special Note: I am only 3º away from the Pope, the President and the Prime Minister of Israel. And, I’m only 2º away from the Dalai Lama! How? Because of my CONNECTIONS and RELATIONSHIPS, I can get to ‘someone’ who can get to ‘someone’ who can get to the Pope, the President and the Prime Minister.

Share:

Vocabulary Wars

From the archives, but still relevant today – Read on for how to avoid Vocabulary Wars.

Last week we were with an organization that helps homeless people find and secure permanent housing. The Executive Director of this organization had spent the last 10 years – off and on – trying to get three specific area Foundations ‘on board.’ In that time, some $10K grants had been awarded but for the most part the Foundations said, “We don’t fund projects like yours.”

The mission statements for the foundations were almost identical to that of this homelessness organization. And, each Foundation had funded similar agencies working in the homeless arena.

After some discussion, I realized that the challenge has been vocabulary, not fit. For example:

  • This organization receives about $1M annually from the government — to be used for ‘capital’. It turned out that ‘capital’ in this definition meant anything that had to do with the actual home or residence (including programs to get into the residence.) In the case of this organization, the ‘home’ was the OBJECTIVE of the program. Kind of hard to end homelessness without a home somewhere in the equation… no?
  • The Foundations avoided ‘capital’ projects. It turned out the ‘capital’ meant ‘capital campaign’ to the them – bricks and mortar, campaign committees, fancy office chairs, etc.
  • The organization had structured all of its internal vocabulary based on conversations with the government. These vocabulary words were deal killers with the private foundations who heard “capital campaign” when they wanted to focus on more “programs for the homeless.” (I’m not making this up.)

So, here’s what we did:

  • We coached the organization’s senior leadership to go back to one of the Foundations. This time the organizations was to ask questions, listen and use the Foundation’s vocabulary to advance a discussion.
  • The key questions to ask were, “What is the biggest challenge you’re seeing with respect to ending homeless in this area? How are you working to address that challenge?”
  • The Foundation said it felt a lack of ‘housing opportunities’ were available to the working poor and that it was trying to identify agencies that worked as a catalyst to create more opportunities. Note: The most critical point of this entire story is probably right here. The organization had to LISTEN to the foundation to pull off the right ask.
  • The organization’s leadership was then able to position its work as a ‘catalyst to create more housing opportunities’.
  • Both the foundation and the organization leadership described the ensuing conversation as ‘electric’ and ‘exciting.‘ They will be meeting again next month to talk about a multi-year financial partnership.

For 10 years, would-be partners had failed to align for what amounted to a vocabulary war. At times the relationship was even contentious – there were debates and arguments between foundation heads and leaders in this organization about right/wrong and ‘justice’ in funding.

It’s important to realize in this story that at 30,000’ they were in COMPLETE alignment: all parties were trying to end homelessness. The fact that the homeless organization was getting a token $10K here and there was an indicator that there was alignment on the CAUSE (WHY), but not the CASE (WHAT). The relationship was advanced – light speed – by really, really listening and aligning the solution in terms the funder understood.

The only way to avoid a vocabulary war is to listen.

Note: In the actual coaching I said to the ED, “I want you just to listen.. to really understand the foundation’s challenges. When you hear a word you don’t understand, ask them to define it. Keep listening until you can say, ‘wait a minute, we can help solve that!’”.

Share:

Selling Happens at 30,000′: The Jerry Maguire Close

Leigh Steinberg is a sports agent who represented the No. 1 overall pick in the NFL draft a record eight times – a milestone unmatched within the sports industry.

Steinberg is often credited as the real life inspiration of the sports agent from the film Jerry Maguire.

Reportedly, Steinberg had a chief aim when going into any negotiation – to get the person he was with to agree that his athlete was the best (fill in the blank: quarterback, running back, etc) in the league. Once he got them to agree the rest of the negotiation was pretty easy.

Selling happens at 30,000′.

The number one question of every investor is, “Why do you exist?”

If the person you are talking to doesn’t care about your WHY, it’s very hard to talk to her about the what and the how. Conversely, if your WHY is her number one priority (i.e. you have the best running back in the league), you need establish that fact as early as possible.

More on closing here.

 

 

Share:

The Goal of Predisposition

The goal of predisposition is simple: TO GET THE VISIT!

It is NOT to ‘sell on the phone’!

A really strong predisposition e-mail or letter makes the follow-up phone call very assumptive/presumptive! “I’m following up on the note that you received from (Natural Partner) and I’d like to see if you might be available next Tuesday morning? Or would Wednesday afternoon be better?”

This is not a spiel. It works.

Perseverance is key (as well as ‘practicing’ the words you will say) with your Best Prospects.

Typically, once you get through on the phone, there are three possible answers a potential investor may give you.

  1. YES.

    Awesome. Get date and time set. Follow-up with a note to confirm. Send any additional predisposition material for the actual visit itself.

  2. MAYBE.

    “What else could I do that might help you decide on getting together?”

    “I can meet you anywhere, anytime.”

    “Would it help if you spoke with (Natural Partner) to understand more about why they are engaged with us?”

    If the timing isn’t good, schedule a specific date to call back and follow through.

  3. NO.

    If this is the type of ‘no’ that means, “No time, but I still like your organization,” you could send them a President’s Circle invitation or a really strong follow-up letter, with a request. If it’s a ‘no’ that means, “No, I can’t really see this as a priority.” Or “I’m not in a position to help” then you would send a nice thank you and MOVE ON!

A quick reminder about perseverance with your most Qualified Prospects: You cannot mess up a contact to set up a visit if you are authentic!

  • “It’s really important that we meet with you.”

  • “Been trying hard to set this up because of urgency, importance, etc.”

  • “Sorry we have missed connecting so often, and I know I’m being really persistent. I just know how important it is for us to be sharing our story with more people like you.”

WHATEVER IT TAKES. I know. It’s an old and cheesy coaching cliché. However, if you take ‘perseverance’ and ‘attitude’ down to the ‘how’ – the answer is to do WHATEVER IT TAKES! Call back until they tell you not to call anymore. Stay in contact until you’ve got the visit set up. Call in all of your SUPPORT team. WHATEVER IT TAKES.

 

Share:

Memorable Experiences as Powerful Predisposition

A few weeks ago we published “10 Action Steps to Help you Engage in 2016.” Over the next 10 weeks, we are going to use each action step as a week long theme to help you get it done!

This week’s theme is: COMMIT TO BETTER PREDISPOSITION.

33Napkins-18-SpecialEvents

You’ve seen our rant on “No More Special Events.”  If not, I’ll summarize here: SPECIAL EVENTS ARE NOT ‘SPECIAL!’

They rarely generate income anywhere close to the corresponding staff and volunteer effort and time – Even though we’ve spent more that half the year selling tables, sponsoring golf holes or lining up silent auction items.

P.S. Not only do your volunteers and staff hate these Non-Special Events, so do all of the ‘INVITEES’ … who clearly don’t want to go to another ‘un-memorable, time-away-from their-family’ auction, gala, ‘fundraiser’!!!

Instead, MAKE EVERYTHING YOU DO A MEMORABLE EXPERIENCE!

A ‘MEMORABLE EXPERIENCE’ is about your Vision, your Message, your Impact.

Every ‘MEMORABLE EXPERIENCE’ is an incredible PREDISPOSITION OPPORTUNITY.

A MEMORABLE EXPERIENCE isn’t about the number of people in attendance, it’s about getting the best people in attendance. Instead of selling tables, think about getting the best 10 prospects you have in the room (preferably your room) and knock their socks off with the IMPACT.

 

 

 

Share:

The Perfect Predisposition

What is the absolute PERFECT PREDISPOSITION???

It’s bringing the Qualified Prospect or potential/current investor TO YOU!!!

Short. Sweet. Powerful. An idea that you can use immediately to significantly increase the level of investment from your top prospects. This idea is particularly relevant if you are in a ‘CAMPAIGN’ or trying to involve/engage your top prospects at the leadership gift level.

I’ll say it again: The absolute best PREDISPOSITION is to bring your BEST PROSPECTS to WHERE YOU DELIVER YOUR SERVICE!!!

This seems so natural and ‘commonsensical’. (That could be a new word.) Yet, to so many people we train and work with, this is a big revelation.

Don’t tell me you can’t get people to come and visit you. I didn’t say it was easy. I said it will significantly increase the magnitude of the commitment!

If they’re really and truly a great PROSPECT, then they need to SEE and FEEL and TOUCH what you do – the ‘HOME COURT ADVANTAGE’ is very powerful! (At Colleges and Universities we call this GTC: GET TO CAMPUS!)

Bringing your prospects/potential investors TO YOU – where you can control the environment, the flow, the tour/agenda – is one hundred times better than their office or home, and 1,000 times better than a restaurant.

IF “A PICTURE is worth a THOUSAND WORDS.”

THEN “A LIVE MEMORABLE EXPERIENCE is worth a MILLION words.”

Share:

BIG IDEA: The Master Prospect List (MPL)

The Master Prospect List is one of the biggest ideas in our sales process. It’s a system of:

  • Rating and ranking,
  • Your best and most Qualified Prospects,
  • In descending order of importance.

PRIORITIZATION is the centerpiece of our prospect system: the MPL is not a random group of names nor an alphabetical list!

The MPL ranks ALL of your prospects, not just ‘individuals’.

Rarely, do we see an organization with a TRUE Master Prospect List. This can be a tough concept for some to implement so we’ve made it simple:

  • MASTER = ONE LIST. Not ‘one list for the gala’ and ‘one list for annual fund’ and ‘one list for corporate partnerships.’ And, certainly not fifteen reports from Razor’s Edge.
  • Most Important Prospects. If you receive half your funding from the government then the government is ALWAYS your most important prospect.
  • RANKED. Not Alphabetical. Not by giving history. Not by Relationship Manager. RANKED BY IMPORTANCE.
  • Re: Individuals, Corporations, Foundations – a gift received yesterday does not remove the ranking of the relationship.
  • Smaller organizations should focus on their top 33 prospects. Larger organizations (e.g. Colleges) should maintain the same focus but take the ranking out to 100+ prospects.

In addition, The Master Prospect List:

  • Streamlines prospecting meetings and reporting and allows you to focus your time and energy.
  • Determines what to ask for by matching your prospect list to your funding plan.
  • Saves a lot of time in meetings, thinking, planning, strategy, etc. because the list IS the framework for all these things.
Share:

97/3: Focus on the Top

A few weeks ago we published “10 Action Steps to Help you Engage in 2016.” Over the next 10 weeks, we are going to use each action step as a week long theme to help you get it done!

This week’s theme is: Finalize your MASTER PROSPECT LIST.

97% of all your INCOME (SALES/REVENUE) will come from

3% of your PROSPECTS (Portfolio/Community/Family).

This is a fact. Don’t fight it. Deal with it.

97/3 just reinforces the need to find your BEST and most QUALIFIED prospects!

The whole ‘80/20’, Pareto the Italian Economist thing is soooooo 1980. (Actually, it was in the 18-somethings.)

A quick parable/metaphor to reinforce this concept.

Lions, Mice, and Antelope.
A lion can hunt, capture, kill, and eat a field mouse. But the ENERGY expended is greater than the caloric content of the mouse. If a lion spent her whole day hunting and eating field mice, she would slowly starve to death!

A lion cannot live on mice. Lions need antelope. Antelope are BIG. Antelope take more planning, persistence, speed, and strength to capture and kill. But, once killed, they provide a huge feast for a lion and her pride.

A lion can live a long and happy life on a diet of antelope. She will die ‘chasing mice.’

Share:

The Last Investor

THE LAST INVESTOR: The Metaphor

WHAT IF you were down to your very LAST INVESTOR? (aka ‘DONOR’)

WHAT IF the FATE and FUTURE of your ORGANIZATION and CAUSE were entirely up to that one LAST INVESTOR?

Think about it:

IF you can communicate your IMPACT and MISSION. Convince them of your VISION. INVOLVE THEM in your LEADERSHIP PROCESS.

THEN they will MAXIMIZE their INVESTMENT and bring along OTHERS to COMMIT and INVEST.

HOWEVER, if they don’t ‘GET IT’ – they’re history. They’re gone.

If you can’t communicate your MESSAGE in a clear, concise and compelling fashion, then they will be polite, but still gone.

The proverbial BOTTOM LINE is simple:
 

If you are with THE LAST INVESTOR and
THEY DON’T INVEST
you are ‘OUT OF BUSINESS.’

CHALLENGE: How can you use this metaphor of The Last Investor to CHANGE the way you apply the IMPACT DRIVES INCOME insight and how you approach your best prospects?

Would you send your Last Investor a direct mail piece addressed ‘Dear Occupant?’

Would you call them (in the middle of dinner), ask for money, and then promise to follow-up with a form letter?

Would you ask them to buy a table at your (not) special event?

Would you ask them to be part of your Feasibility Study to find out if you need money?

Would you meet them at their office (or for lunch) rather than try to get them to see what you do and where you deliver your service? (Because it’s easier.)

Would you send them a 60-minute DVD and ask them to watch it? (And enclose a BRE)

You get the point.

Click here to read more including a powerful Parable about The Last Investor.

Share:

What I Would Do If I Had $1M

My copy of Think and Grow Rich by Napoleon Hill was published by Fawcett World Library, 1969.

Based on Napoleon Hill’s famed Laws of Success, Think and Grow Rich represents the distilled wisdom of distinguished men of great wealth and achievement. Andrew Carnegie’s magic formula for success was the direct inspiration for this book. Hill’s “secrets” are founded in universal law and principles.

Originally published in 1937, it has been characterized as one of the most influential books of all time in pointing the way to personal achievement.

W. Clement Stone wrote “more men and women have been motivated to achieve success because of reading Think and Grow Rich than any other book written by a living author.”

Following is a story Napoleon Hill uses to underscore a number of the key principles of Think and Grow Rich:

  • Definiteness of Purpose
  • Faith
  • Imagination
  • Desire
  • Persistence
  • Organized Planning to Achieve a Purpose

The following story is quoted from the book. The (parenthesis) are mine – Tom

While Dr. Frank W. Gunsaulus was going through college, he observed many defects in our educational system. These were defects that he believed he could correct if he were the head of a college. (His challenge!) He made up his mind to organize a new college in which he would carry out his ideas without being handicapped by orthodox methods of education. (Creativity, out of the box thinking, unorthodox!!!)

He needed a million dollars (Specificity) to put this project across. Where was he to lay his hands on so large a sum of money? That was the question that absorbed most of this ambitious young preacher’s thoughts. He turned it over and over in his mind until it became a consuming obsession with him. Dr. Gunsaulus recognized, as do all who succeed in life, that definiteness of purpose is the starting point. He also recognized that definiteness of purpose takes on animation, life, and power when backed by a burning desire to translate that purpose into material equivalent.

In his own words:

“For nearly two years, I had been thinking but I had done nothing but think! The time had come for action!

“I made up my mind then and there that I would get the necessary million dollars within a week. How? I was not concerned about that. The main thing of importance was the decision to get the money within a specific time, a strange feeling of assurance came over me — such as I had never before experienced. Something inside me seemed to say, “Why didn’t you reach that decision a long time ago? The money was waiting for you all the time!”

“Things began to happen in a hurry. I called the newspapers and announced that I would preach a sermon the following morning entitled ‘What I Would Do If I Had a Million Dollars’.

“I went to work on the sermon immediately. But I must tell you frankly, the task was not difficult because I had been preparing this sermon for almost two years.”

“Long before midnight, I finished writing the sermon. I went to bed and slept with a feeling of confidence, for I could see myself already in possession of a million dollars. (Visualization!)

“The next morning I rose early, went into the bathroom, read the sermon, and then knelt and asked that my sermon might come to the attention of someone who would supply the needed money. In my excitement, I walked out without my sermon and did not discover the oversight until I was in my pulpit and ready to begin delivering it.”

“It was too late to go back for my notes, and what a blessing that I couldn’t. Instead, my own subconscious mind yielded the material I needed. When I arose to begin my sermon, I closed my eyes and spoke with all my heart and soul of my dreams. I not only talked to my audience, but I fancied that I also talked to God. I told what I would with a million dollars if that amount were placed in my hands. I described the plan I had in mind for organizing a great educational institution, where young people would learn to do practical things, and at the same time, develop their minds. (The Ask!!!)

“When I finished and sat down, a man slowly arose form his seat about three rows from the rear and made his way toward the pulpit. I wondered what he was going to do. He came into the pulpit, extended his hand, and said, ‘Reverend, I liked your sermon. I believe you can do everything you said you would if you had a million dollars. To prove that I believe in you and your sermon, if you will come to my office tomorrow morning, (The Response!!!) I will give you the million dollars. My name is Philip D. Armour.”

Young Gunsaulus went to Mr. Armour’s office and the million dollars was presented to him. With the money, he founded the Armour Institute of Technology (now known as the Illinois Institute of Technology).

Share:

Fearless, Ruthless, Fearless

A quick nugget on Prospects from on of our For Impact Coaches, Robb.

In the For Impact process to Qualify Prospects you do these three things:

  • Identify
  • Prioritize
  • Strategize

In that order.

Robb adds the attitude needed in each of these steps: FEARLESS, RUTHLESS, FEARLESS.

  • When Identifying prospects: BE FEARLESS.
    Don’t make decisions for the prospect. Be inclusive.
  • When Prioritizing prospects: BE RUTHLESS.
    After you have a list of prospects be very discerning about your focus and priorities. You MUST prioritize. The priority of the prospects (your Master Prospect List) drives your attention – On whom will you place your focus, time and energy?
  • When Strategizing prospects: BE FEARLESS.
    Again, don’t make decisions for the prospect. Let’s make the best case, let’s do whatever it takes to be in front of the prospect and present the opportunity!

Read more about Prospects in our For Impact Guidebook: Gold, Diamonds and Oil.

Share: