Understand Your Value - Manage Your Opportunities by Pete Lorins PhD CD, JD

Before embarking on any entrepreneurial endeavor, one should consider the following ancient proverb: "KNOW THYSELF." What it really means is that before we start trying to understand our customers'/prospects' worlds, we should develop a full understanding of our own world and have a guiding vision that begins to define the IDEAL CUSTOMER. More specifically, we need to understand our offerings, the markets they target, and the quantitative and qualitative levels of activity we must attain to reach our personal performance goals.

Self-knowledge begins with the VALUE PROPOSITION inherent in the goods  and services we are offering customers. In other words, the positive business and personal impact that your offerings deliver to your customers. This value represents your competitive advantage in the market place. It also serves as a baseline from which you can begin to measure the fit between your offerings and prospects (prospective customers). The UNIQUE CHARACTERISTICS of your offerings help you define the IDEAL CUSTOMER.

STEP-1: Quantitative Approach
1) Sales Plan/Business Development - Contact a predetermined number of prospects
2) Contacts - These become your contacts
3) Appointments - Set "x" number of appointments
4) Presentations - Set the appointment in "y" presentations
5) Sales - Yield "z" number of sales.

STEP-2: Qualitative Approach
1) Develop Qualitative Metrics
2) Determine the Best Leads for a Particular Moment
3) Perform Opportunity Management - Recognize the Opportunities

Opportunity Management -- encompasses how we develop and manage our leads. As the opportunity represented by each customer changes, so does their priority in the salesperson's schedule. The ultimate purpose of opportunity management is to point salespeople toward that single individual or company that represents the best place they could be at at any particular moment.

If you're struggling with any of the above concepts/approaches, please feel free to call Pete Lorins @ (407) 272-0873. The value of your business and entrepreneurial aspirations depends on it.

Pete Lorins, PhD CD, JD --  petelorins@aol.com (email)