Word of mouth is the original form of advertising and is probably still the most credible form of advertising. When people we know and trust tell us something is good and that we should get it, it means more than any commercial.
The secret to "power word of mouth" is to get the most influential people possible saying the most influential words (best message) to the most influential people for a given application.
Reputation or brand provides the essential message for friendly contacts to use to easily explain to others who trust them what you do in a compelling enough way to provide you with more clients. This traditional way of doing business by way of trusted networks of extended close contacts ("it's who you know that really counts") can be upgraded and more widely used to bring about greater improvement in cash flow and valuation of private enterprises. LinkedIn is a tool with potential to add value in this respect.
Service providers and manufacturers depend on the well being of their customer base. Most want their customers to be healthy, and of course want more of them.
At the same time, all clients have priority needs that go well beyond the scope of whoever sees them as a client for their particular service. An accounting firm's client may need major marketing help, financial capital restructuring, etc.
An affiliation of complementary service providers, with the facilitating help of a coordinating team, can do more than any single service to protect and improve the cash flow and financial valuation of corporate clients, and help improve the well being of all concerned, including the overall economy.
An affiliation of corporate financial and advisory services can evolve into "economic engines" as affiliated specialists provide vital advisory and transaction services with cash flow and profitability accountability. At the hub of this economic engine is a "corporate valuation improvement" team facilitated by a coordinating function with general business (CEO) perspective. This "corporate valuation improvement" team focuses on bringing best suited available service providers to bear where priority needs are identified to the benefit of service providers and the well served corporate clients.
All but the cynical know the potential of "casting your bread upon the water." And most people are familiar enough with the parable of the "Good Samaritan" and other related admonitions to have some inclination to be prepared to "go the extra mile."
Collaboration is pitching in to interact, listen, compare notes, initiate and cooperate to help wherever and however it can make the difference to all concerned.
Everyone in the business of serving the needs of corporate customers has a base of corporate clients upon which their business depends. It is in their/your/our self interest to do whatever possible to further the health and well being and level of success of clients. Whenever "our clients" can be improved by becoming a well served client of another non-competing company, we are better off and so are they. Call that win-win-win. "You," "us," and "they" all benefit from smart collaboration.
Improvement, progress, the process of making things better, flows according to effort, energy, enthusiasm, and the repetition-inducing effectiveness of results.
While progress can be delayed by mistakes that end up being time consuming to recover from, it is far more often delayed by procrastination stemming from fears associated with either pessimism or the impatient obsessive demand for perfection.
Is there anything that cannot be improved? Collaborate and find out.
There might even be a new business model emerge from such an undertaking.
Don't be shy, just start with some kind of feasibility testing:
1. Confirm interest of critical mass of initial participants and areas of interest/assignment.
It's wise to begin with the demand side:
2. Collectively compile list of first contacts to all known potentially accessible sources of client bases (lists of customers) – someone known well personally who can move things forward.
3. Confirm best contact person (not necessarily first contact) for each client base for initial client-by-client assessment of potential needs (top 3-10).
4. Identify client access hurdles to overcome.
5. How best to overcome them, case by case.
6. Who will do what to clarify and verify clients’ needs.
7. Make initial estimate of aggregate client demand for services.
With some handle on demand, turn to the supply side:
8. Collectively compile list of first contacts to all known potentially usable service providers.
9. Clarify and verify distinctive competence of each service provider, including how to improve their competence.
10. Confirm initial capacity to meet demand.
Nothing is real until action produces results through operations:
11. Clarify database utilities needed, availability, administration.
Initial and ongoing business planning can make all the difference:
12. Confirm principal participation in profit center.
13. Name profit center and more succinctly describe it for maximum marketing value.
14. Clarify new profit center pricing, retainers, performance fees, etc.
15. Estimate volume, revenue, costs, expenses, cash flow and potential value of profit center.
16. Update implementation plan/timeline.
"Closing sales" makes all the rest possible:
17. Overcome hurdles and engage clients to clarify and verify needs
Superior "fulfillment" is the key to closing more sales:
18. Clarify and execute operations for growth and improvement.
Breadth and Depth of Experience
There is value in having greater than typical breadth of industry experience. Experience beyond one principle industry (e.g., electronics) or even sector (e.g., manufacturing) provides richer insights into how to make improvements in the world of business. Whatever the primary industry, valuable perspective can be gained from industry breadth whether it be the packaging industry, the hospitality industry, the food industry, the world of entertainment, and so on.
In addition to a cross section of industry experience, a breadth of relationships with corporate clients, from artists to high tech companies, enriches perception for greater creativity, cross-application, and assessments of practicality.
Depth of insight from the business life of a serial turnaround CEO can provide practical business knowledge related to analysis, design, and innovation to improve all areas of focus in the working core of any business -- the business model, vision, strategy, organization, and leadership.
Capital Structure and Brain Work
To improve efficiency, growth and overall performance, leaders benefit from improved capital structure. This involves financial specialists. Finance is fuel and the system for accessing and processing optimum types, blends and amounts.
In addition to improved capital structure, ongoing improvement requires improved overall brain structure, brain work, team work, to make the most of the fuel, improving the improvement cycle of planning, design, development, operation, analysis, correction, etc. Fuel makes things possible, but doesn't think through, much less act out operation, direction, correction, etc. Fuel and fool are not a good mix; improperly attended fuel can produce dangerous outcomes.
Brain structure considerations have breadth and depth dimensions. Breadth starts with experience, knowledge, skills and insights across organizational functions and industries. Depth starts with the working core of business of pertinent details of business model, vision, strategy, organization, and leadership, the very process of improving brain structure and brain work.
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