Question:
Does working "on" the business as opposed to "in" the business mean you are less hands-on?
Answer:
Yes and no. It means that you are selective about where your time, expertise and skills are used. It means that you train others to take care of tasks, so that you can manage the business as well. It means that you delegate, that you don't micromanage processes (which cost time and money) and that you choose where your attention should be targeted, to best serve the growth of your business. One of the greatest deterrents to growing your business is the inability to "LET GO" – believe it or not, others really can do it as well as—or better—than you.
Of course, from time to time in small companies, you must "touch" the work. Even today
I will plan events for key clients. I’m not above calling a hotel to check on availability and to initiate a contract, or order food and beverage. This is something that my staff can do, however, if they are busy working on another project that is equally important. I am happy if needed to step in and do it.
I have had my staff create and draft blog content, which I then review and edit. They know me well enough to know what I think about specific topics, so it makes sense to use their time and talent to draft the blog and then to get my stamp of approval as the manager. Mostly, it ensures that the blogs will get posted on time!
Question:
I have been in customer service for over five years, but have only had meeting planning responsibilities for three months. Is it too early to start offering my services as a freelancer? How would I market myself?
Answer:
It is fantastic that you have five years of customer service experience. A key component of the meetings and events industry is customer service—making your client happy. Those are definitely transferable skills, and ones that you can capitalize on. Customers also want to hire individuals who have experience and knowledge. You've got three months of planning under your belt; I would recommend that you continue where you are for at least nine months more to gain a full year of experience. In addition, commit yourself to learning as much as you can about the industry and the business: Take continuing education courses at your local community college; join MPI or ISES and get hands-on experience as you volunteer on a team or committee; start testing the waters in your free time with family events or working with nonprofits who need volunteers to plan their events. After this, then I think you can begin to legitimately offer your services and stand strong in your ability to do the job well and honor your clients.
Question:
Can you explain the expenses involved in e-marketing?
Answer:
Purchase the vehicle/software you plan to use to facilitate your e-marketing campaign. www.constantcontact.com and www.mail-dog.com are a few such services. Rates vary depending upon the level to which you are using the services. Some are as low as $50 per month for the service and .01 per e-mail sent. All are customizable and able to be branded to your specifications.
If you prepare the content yourself, create and send it out to your list, your costs are minimal. However, if you plan to do a lot of e-marketing, you may want to hire a designer or have a staff member make it part of their weekly routine.
Blogging is inexpensive. Some sites (www.wordpress.com or www.blogspot.com) offer free or inexpensive services; you update regularly with your content. Again, it is mostly a time and content development commitment. And, if you're short on time, we can help you out at Pick My Brain: lcoote@pick-my-brain.com.
Question:
Where do you suggest finding clients if you're completely new to being an independent?
Answer:
In order to get new business, you must be on a potential client's radar. They need to know that you exist, and they need to believe that you offer a service or product that they desire. To break into the market takes a combination of tactics:
- Networking at industry and non-industry events.
- Membership in associations, Chamber of Commerce, networking groups.
- Targeting those you really want to work with, and communicating effectively and regularly. It can take up to 10 exposures for an individual to recognize your company name or services.
- Don't be afraid to put it out there (no fear of rejection: "No" merely means "No," and means nothing personal about who you are.)
- Tell your story; share it with friends, families, people at the gym, clients…
- As soon as you get some work, document your successes so that you have a list you can refer to both to support your credibility and to remind yourself that you are in business!
Question:
In a changing economic market, would you 'adjust' your service fee(s) according to the economic climate?
Answer:
Yes and no. I believe there are times when being flexible with your fee is mandated. It could be times when the market is down and to continue to do business you have to compromise so that your customer can continue to use your services. Also, there may be some markets that can accommodate a standard or higher rate for services, while others may not be able to do so. It’s important to be aware of your customer’s marketplace and what they are dealing with. Keep in the conversation with them about how things are going. Ultimately, though, you must determine what you or your business needs to sustain yourself/itself. With a combination of fees, you may be able to offer a discounted rate for the moment to one client, and raise it in the future when things get back to normal.
Question:
Where can we locate RFPs for meeting planning services?
Answer:
www.conventionindustry.org
Under the tools section and APEX forms, you'll find a section with several examples of RFPs.
Question:
I am thinking of starting my own business, what is the first thing I should do?
Answer:
There is a great book called The One Page Business Plan. It comes with a CD as well, and takes you through an abbreviated process of assessing your business idea.
If you feel after doing that your business has viability, then I recommend you create a complete business plan so that you have a chart for the course you're about to embark upon. It will give you clarity about why you exist, who you are targeting, how you company plans to market, who you are competing against and what it will take fiscally to make it al happen.
With plan in place, you can then set up your organization and processes, and put out your shingle saying "I'm in business, hire me!"
Question:
What techniques do you use to "weed out" the folks who are not serious about hiring you, or are looking for a deep discount?
Answer:
This is a great question, because at some point along the way, a business owner will have to deal with what seems to be a prospective customer, only to find out that they have no intention of committing to a contract. Instead, they just want to gather as much "free" advice and information as you will give them.
It may feel really good to have others come to you and say, "I know you are an expert at xxx, and I would just like to know what you think I should do about xxx." Your first inclination may be to jump in and answer, because it feels good to be valued. But take warning, you are in business and your time and your knowledge are valuable and worth being paid for. When you stand your ground and let a prospective client know that you’d be happy to assist them with their meeting or issue and that in order to do so, you need to have an agreement in writing; THAT will weed out those who are truly interested in working with you from the ones who just want what you have to offer free.
If you fall into the trap of giving away too much time, knowledge or service for free, stop it as soon as you recognize that you are doing it. After all, you don’t really want to work for someone who is not going to pay you, or pay you what you are worth.
Question:
At the end of the program Laurel mentions a site service fee of $300-$400. Is that per day, and plus expenses?
Answer:
The fee I referred to was for an on-site Trip Director, or in other words, an on-site staff person who is skilled at coordinating any task on site at a meeting, convention or trade show. Standard rates will vary depending upon the geographical location, the type of event and client market and, of course, budget. In my experience, the lowest rate paid has been $250 per day and the highest, $600 per day. Note that the rate is also reflective of the level of experience the staff person has, and the level of accountability you are paying them to carry (i.e. full management of an event vs. support staff to manage breakout rooms).
Question:
How do you determine your niche?
Answer:
To determine your niche, take a look at the following:
- What are you really good at, that others acknowledge you for or hire you for?
- Do you have a reputation of being an expert on something?
- What market(s) do you enjoy, or what kind of clients do you enjoy working with?
For example: Perhaps you really enjoy medical advisory board meetings and interacting with doctors and nurses, and you have a complete understanding of the requirements of medical meetings. This would allow you to position yourself as a "Medical Meetings Expert" and to target businesses that desire that expertise.
Maybe you are really good with contracts, so you can position yourself as a contracts expert, one who saves companies money, protects them from possible risk and/or gains concessions that add value to their events.
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