Storytelling as a Business Development Tool

How does storytelling help the professional service provider?

Highly successful professional salespeople have vastly different styles and approaches. The one thing they have in common: the ability to tell a good story. Storytelling has three core advantages for salespeople—and for professional service providers:

1) The listener immediately reverts to “cookies and storytelling” relaxation—he/she really hears what you have to say as you entertain. The listener is more likely to absorb your message.

2) You demonstrate your value—the listener can visualize, empathize and get emotionally involved in the situation you describe. The listener is more likely to remember your story.

3) Your relationship with the listener graduates from a cold selling environment to one of warmth and sharing. Therefore, you set the stage for friendship.

5 keys to storytelling success

As a professional service provider, you have numerous opportunities to share a story with a prospect. Storytelling informs others about what you do and builds your credibility. Here’s how:

1) Remember to tell the story! Avoid the tendency to start the meeting with shameless bragging about what you can do for the prospect and why you are better than everyone else. Start the conversation by asking the prospect to share the situation and how he/she feels about it.

2) Tailor your story to the needs of the prospect. Share how you solved a similar problem for a client in the past (no need to give names if confidentiality is an issue).

3) Show, don’t tell. No need to brag—let the listener draw conclusions about your problem-solving abilities based on the sequence of events and the outcome.

4) Be brief. Keep your story short or risk boring the prospect.

5) Have fun telling the story. Share the problem, how you solved it, and the outcome in a manner that shows you are passionate about helping clients. Your goal: a prospect who is excited to work with you to solve a problem and get results.

After hearing the prospect’s need and telling a story, offer to follow up with an engagement letter or schedule the next meeting. When you meet with professional service providers who can send work your way, ask about their client base and share stories about successes with similar clients. Tell stories to old friends, existing clients—even the colleagues under your roof. A subtle reminder of what you do and how you solve problems helps others to understand and appreciate your personal and professional talents—including your ability to entertain.

3 Ways to Shake Out Referrals This Summer

Do you hesitate to refer professional service providers when you have not seen them in action? You are not alone--and you could be missing out on referrals for the same reason. You can demonstrate your value to professionals beyond the usual collaboration on shared clients. Follow these three tips to shake out referrals from those who are inclined but nervous:

Tip #1: Help off the meter. Give professional service providers a taste of the client experience by offering your consultation and services as a friend. You will enjoy the deep satisfaction of helping a colleague; the service provider will develop an understanding of your value and send prospects your way.

Tip #2: Provide leadership in professional associations. You know the drill: serve on committees, get involved in leadership and contribute to the profession. The friends you make along the way will see you in action and send business your way.

Tip #3: Share knowledge. In my experience, speaking engagements are an effective method for establishing credibility with referral sources and potential clients (not to mention the travel, golf and wine). If you're shy, publish (you can always hire a writer to share your advice). One way or another, adopt a learning and knowledge-sharing approach. Not only is it your responsibility as a professional to share knowledge--it is also a wonderful way to attract business, see the world, and meet new professionals and prospects.

These tips require personal initiative. Did you know that, in general, 25% of new business opportunities lay dormant because professional service providers do not actively take on new initiatives? This is summer--you have time--what are you waiting for?

3-Way New Business Checklist

Is your head buried too deep in work to contact the most important people in your network--those who provide you with new projects? If so, drop everything--follow this 3-Way New Business Checklist:

1. Send an email to update and thank those who have sent recent or blockbuster work your way. (Hopefully, this is in addition to your thank you note sent weeks or months ago.)
2. Quickly scan your database to identify your top 10 referral sources. Send each one an email to make a helpful introduction or to set a meeting. The purpose of the proposed meeting: to discuss creative ways to bring in work together.
3. Think about two or three clients who need help with a service that you do not offer. Contact your clients to ask whether you can introduce them to a service provider who will take them to the next level. The introduction deepens your value to the client while helping a friend.

The 3-Way New Business Checklist mostly involves helping others. Wouldn't you like that kind of attention from your colleagues?

Are You in the Right Communities?

Securing new business depends on your involvement in vibrant communities. But are you in the right communities?

A community is defined as a group of people who maintain relationships based on common interests, goals, locations or values. This can be a trade association, a business group, a civic organization, a nonprofit, a special interest group . . . the list is endless. When you contribute to the success of a community, it is natural that members will turn to you for help in their time of need.

To evaluate whether a community is right for you, consider these five questions:

1. Does this community include clients of our firm?
2. Are there exciting prospective clients?
3. Am I interacting with high-quality referral sources?
4. Will this group help us make better decisions, open doors, advance our firm's interests, help us innovate--stretch our thinking?
5. Am I having fun and making a difference in the lives of others?

Involvement makes people aware of your business, leads to referrals and gives you an edge when proposing against competitors who have not invested in the community. Ultimately, the community you want is rich with opportunities to make friends, help others and have fun. Is this happening for you? If not, it's time to get out and explore.

A Quick, Easy Way to Increase Referrals

Are you getting the number of referrals you want each month? By taking one action, you can increase referrals from your network.

Let's assume you have mastered the "elevator speech"--saying what it is you do in 10 seconds or less. Let's also assume you have a network populated with individuals who can provide opportunities. Believe me, those in your network want to help. But can you say without a doubt that each member of your network knows exactly how?

Is it possible that you are missing referrals because you have not clearly communicated? The one action you can and should take with each conversation: Ask for what you want. Sounds simple, but how often do you hear something like this from a professional:

“Can you do something for me? If you know of a tech firm that needs help with tax savings, can you introduce me with a telephone call and I will take it from there.”

or,

"Can I ask for your help? If you suspect that a service firm could use some help with growth, please introduce me via email and I will take it from there."

Fill in your own circumstances when you make a request. You are not asking the professional to sell for you. You are asking, instead, for the professional to stop and think about clients and others who may benefit from knowing you--and to make that all-important introduction.

Here's how to shape your request:

1) Ask for help. This will prompt the professional to focus.
2) Ask the professional to think about clients and others in a specific industry niche. Are you targeting service firms, tech firms, hedge funds?
3) Ask the professional to consider those who can benefit from your specific value proposition. What is the most important outcome from the potential client's point of view?
4) Inform the professional as to the best way to make the introduction. Do you want to be introduced by email, with a phone call, at a meeting?
5) Make it clear that the professional need only make an introduction and let you take it from there.

Most importantly, invest in the success of those in your network. At each meeting, begin by asking how you can help that person--and follow through. A call to action--asking for what you want and helping others--will make a difference in the number of referrals you provide and receive. Are you missing out?

The Rule of Three: What is your Kindness Factor?

Tough times require something new, now more than ever: a Kindness Factor x Three.

Take this informal test to ask yourself: What am I doing to help others--is it enough?

Question #1: Are you helping others find a job? Answer: Name at least three people you are actively assisting. If you are not helping at least three, you are not thinking beyond your comfortable world.
Question #2: You have a network--are you mentoring? Have you identified those who deserve your help and attention to succeed? If so, provide guidance and coaching. Number of people: at least three.
Question #3: What are you doing to creatively contribute to the success of your firm? Create at least three new ideas and share them with your management team and colleagues. Minimum requirement: THREE.

Don't get caught up in the day-to-day. Set aside 10 minutes now to help those in need, mentor others, and help your organization succeed.

Top 5 New Year's Resolutions

The Professional Service Provider's Top 5 New Year's Resolutions:

Resolution #1: Thank those who provide you with work. You would be astounded at the number of lawyers, accountants, bankers and others who freely admit that they do not properly thank those who have provided them with referrals throughout the year. Thank those who help you immediately and make it your mission to help them in return.

Resolution #2: Keep your referral sources in the loop. If a professional service provider graces you with an introduction to a potential client, keep them informed of your progress with the client and include them whenever possible in meetings.

Resolution #3: Create a team approach. The best professional service providers are true consultants: they listen for a need and act on the best interests of the client. Listen carefully to the needs of your prospects and clients. As you listen to their needs, ask yourself, Who in my network can also help this client? When you promote a team approach, you help those in your network while satisfying the needs of your client.

Resolution #4: Ask your clients for feedback. What's more important than gaining new clients? Keeping your existing clients. Check in with your clients on a regular basis to ask them about their experience with your group. Ask about their challenges and develop creative new ways to provide value.

Resolution #5: Keep an open mind and heart. Make the most of your talented team to storm the market with ideas and approaches that will set new standards of excellence. Make this a spectacular year.

Those are my top five. Let's not settle for anything less. And, last but not least, take the time to assist those who have suffered health and career setbacks--your friends need you. Happy New Year!