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Business Advice to Chew On

September 28, 2021

Tuesday Thoughts, Business Advice, Wisdom for Women Entrepreneurs, Female Business Owners

Sitting across the table from me during lunch was an amazing woman who is a principal of a major engineering company with 4 branches and millions of dollars in contracts. I’ve always been fascinated by women who run extremely successful companies hoping their wisdom will rub off on me and motivate me to higher goals.

Our luncheon conversation lasted an hour but what an hour it was! As I hung on every detail of their latest client portfolio which includes ESPN, a movie set in Hollywood and some recognizable government buildings, I envisioned my company having the same clientele one day! I was thrilled listening to how they land bigger contracts, solicit for new clients and hired a 40th employee, I knew I would have to share the advice I picked up over lunch with others. Her advice made me dig deeper and push farther for my own company’s future. I hope it does the same for you.

* Her company was tired of having old leads – the business cards left in tradeshow bowls, names given at business luncheons and casual acquaintances – not turn into customers. So the company hired a sales person to follow-up on all their “warm” leads and it turned into a handful of very financial rewarding new contracts. If they never made the follow-up calls, they would not have landed the new business. Tip: If you aren’t following up on warm leads because you don’t have the time or staff, consider hiring a temporary sales person just to handle this duty. It will pay tenfold more in contracts then you’ll pay the staff person making the calls.

* Once a month, plan a strategic sales trip where you schedule business appointments from day to night in regions you already have existing customers. Ask for a 15 minute appointment to get in the door. Share your company’s information with the leader of the company you are prospecting. Typically my friend’s 15 minute appointments turned into one hour appointments and landed her a new client. Tip: Be more strategic by scheduling a day a month to be on the road, making new client appointments and walking away with new customers.

* Take a risk to grow your company now and stop waiting to make the move. This woman has decided that in the next ten years she will work day and night to secure a strong financial income for herself and her company knowing after that time period she can walk away from the business tired but with enough money to retire and live really well. Tip: If you are starting to reach the middle or end of your entrepreneurial career, make sure you are doing all you can to utilize every piece of energy you have to push beyond your limits now in order to reap financial rewards in the future to live on.

My final piece of advice is to make sure you find time to have lunch with business owners who are more accomplished than you are and take in their valuable tips and wisdom over a hot lunch. They mirror what you still want to do with your company and make you realize there is still plenty of time to achieve more success!

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