Rabbits vs. Elephants: Balancing Your Business Diet

June 10th, 2011   •   no comments   

As someone who was exclusively an elephant hunter, I am proud to announce that I’ve learned to hunt rabbits…in fact, I’ve even landed a few – so today, I eat!

In the world of business, elephant hunters are those of us who land large projects that we can feed off for some time.  Rabbit hunters are those who land small projects that feed them for a day or so.  A good business owner, has a varied diet of both.

I recently read Loral Langemeier’s Put More Cash In Your Pocket: Turn What You Know Into Dough…I read it in preparation for a 3-day class I took in Austin that was supposed to help me increase my sales…the book was good, but not the best-written book…however, paired with the class, it really changed (aka “improved”) my outlook on sales and business processes.

Entrepreneurs usually start a business because they like to do “the thing” – writing, home decor, cooking, real estate.  They rarely love, or even like, the sales aspect of the business, yet that is what turns a hobby into a bona fide business. We all tend to take classes to improve our skills with “the thing,” but rarely take the time to strength our weakest point – sales.  Even if you don’t take this class, I HIGHLY recommend finding a sales seminar of some kind.

The key concept at Cash Machine (name of Langemeier’s class) – as it applies to elephant hunters, such as me – is to create smaller projects (rabbits around $250-500, as opposed to $2500+ elephants) that give potential customers the ability to try your services before making a big commitment. The rabbits put cash in your pocket today, while you wait to land the elephant.  Conversely, she teaches rabbit hunters how to land elephants so they can take a break every now and then!

The coaches at the conference – and even before (though without the class you don’t really get the full impact of what they are trying to tell you in advance) – really stay on top of you to sell during the three days and walk you through your weak spots in the sales process.  I firmed up two client contracts that I had pending and landed three new clients during the 3-day conference. It was well worth the complete and total discomfort I felt with the sales process.

I’d recommend the book for anyone contemplating a small, side business. I would only recommend the Cash Machine class (coming to Dallas in November, I understand) if you already have a product or service and really want to make it work as a business.

FWIW: Loral started out working as a trainer for Robert Kiyosaki of Rich Dad, Poor Dad fame. I’ve heard him speak, and she is similar in her attitude toward business…I think she’s more practical and waaaaaay pushier (is that a word?)…but, heck, I landed sales under her watchful eye, so I can’t complain too much.

Only caveat I have: Her sales system works and she will use it on you!

 

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