6 Reasons Why Not-For-Profit Pricing Lowers YOUR Profit

“Do you have a special rate for not-for-profits?” This is the question that boils my red-hot blood!

I know that we all have a good heart; I know that we all want to do the right thing; but, sometimes the cause that pulls our heartstrings stings our bank account. In short, changing your pricing for not-for-profits means you’ll too soon be a not-for-profit!

If you create non-profit pricing, you’ll too soon be a non- profit!! Click To Tweet

Why Discount Pricing for Not-for-Profits Doesn’t Work:

Lower-fee pricing doesn’t work because it:

1. Undermines Your Brand – Pricing is part of your brand positioning; you can’t price a Tesla like a Yugo and expect to preserve your luxury status. By the same token, H&M shirts priced like Prada alienate loyal customers and drive down sales. Have you now become the Wal-Mart of your industry?
2. Creates A Pattern Of Negotiating Your Fees – If you client migrates to another job (highly likely), they’ll continue to ask for a discounted fee.
3. Undermines Pricing Flexibility In The Future – How do you charge $10 k for coaching when you just offered it to someone else for $3k?
4. Lowers Your Profitability – Let’s be clear: taking on 10 reduced fee projects, lowers your revenue. And, if your goal is to make more money in 2016, you’re now on the wrong road.

#Pricing & #branding are related; don’t become the @Tesla of your industry w/Yugo pricing. Click To Tweet

1. Instills Resentment – If you feel that you’re not being paid what you’re worth, there’s a good chance the lower fee work might build resentment. And that resentment could lead to you creating less than stellar work leading you to a new baseline of mediocrity. Ouch!
2. Takes Away Time & Opportunity from Higher-Paying Work – Opportunity knocks often just once and if you’re too busy to take on a new project because you’re swamped with lower fee work, you might have missed out on the opportunity of a lifetime.

Please understand that I’m not ruthless. I do work with non-profits, but I often find it easier to just pick one charity and donate my work. I had the pleasure of changing the name of The Child Abuse Prevention Foundation to Promises 2 Kids.

What’s your point of view? Let me know below or over at my blog.

I’ve played a game with my tribe of loyal coaching clients whereby we hit a timer and then boom! After 15 minutes we stop and your blog should be done. Really!

15 minutes for a blog from “no clue to what you’re writing about” to finished blog? You betcha! Faster is better because:

1. Overthinking weighs you down – Let’s be clear: it’s a blog; it is not a thesis, And, with this medium, done is better than perfect.  Of course, you can always go back and edit after it’s posted. Done is better than perfect! Click To Tweet
2. Timing is of the Essence– Sometimes seizing upon a topic is paramount. I remember when Steve Jobs died. I was giving a speech in Idaho and yet I still pounded out my blog on why Steve Jobs was a brand because the news was now!

3 Ways to Write Faster Today

1. Create a Template – I don’t necessarily mean a design template, but an organizational one. If you’re a loyal reader of this blog, then you know that most of blogs are quick bites of information:  4 Secrets, 5 Fast Idea, etc. It’s this formula that gets me moving quicker. It’s a #blog, not a thesis; write faster! Click To Tweet
2. Bullet First – To prevent the over-thinking and rewriting of your material, try vomiting out your material in bullet format – no paragraphs, no complete sentences – just concepts. To #blog faster, bullet first & then write Click To Tweet
3. Practice Timed Writing – If you know that you have unlimited time, you’ll take as much time as you let it. BUT, if you write knowing you only have 15 minutes, you’ll soon start hurrying to get it done in time.

Let me know below.

Sometimes the difference between branding and bragging is tough to describe, but you know it when you see it! Yet, it’s critical to differentiate the two in order to cultivate trust, earn respect, convert prospects into clients, or even get promoted.

So, let’s review:

1. Bragging is when it’s always about YOU! This behavior occurs when you boast about your accomplishments, take credit for them, and offer up no supporting documentation.
2. Branding is when you flip the equation around, talk about the benefit to your client or organization, and provide statistics to prove the result.#Branding vs. #bragging: bragging is when it’s all about YOU! Click To Tweet
3. Bragging is when you say you’re really funny.
4. Branding is when you make them laugh!
5. Bragging starts every sentence with “I” as in “I grew sales by 92%.”
6. Branding defers the credit using “we” or “the team”
7. Bragging is when you boast of your accomplishments on-line as in “so excited to be the keynoter at this event”.
8. Branding is when you post the 3 key lessons you shared.Bragging is saying you’re funny; #branding is making me laugh Click To Tweet

I understand about the benefits of sponsorship, but there is a difference between sponsorship selling and selling out. Let me be clear: I’m tired of hearing about Ryan Lochte!

We know he was wrong; we know he lied and now we know that his unethical behavior has landed him as a sponsor for Pine Bros cough drops with the tagline: “forgiving on your throat.” His sponsorship makes me choke!

Is there any part of Jennifer Aniston that isn’t for sale?

1. Eyes – Under the guise of helping others with the trauma she suffered with dry eyes before a premiere, she’s now hawking Shire’s My Eye Love. Her “suffering” enabled rampant PR in the last 4 days. (Trust me: Google this one!)
2. Skin – Of course, Aveeno is the secret to her gorgeous skin, right? It couldn’t be high-priced facials, injectables, or surgery, could it?At what point are #celebrities selling up vs. selling out? Click To Tweet
3. Hair – Apparently finding good hair products is so difficult that she had no choice but to team with Living Proof and create her own.
4. Water – Ahhhh! The joys of bottled water and its contribution to our environment. Thanks, Jennifer, for enlightening us about the benefits of SmartWater.
5. Smell – Can’t get close to your secret favorite Rachel? How about smell like her! You can with her Jennifer Aniston Eau de Parfum.

BUT, this Jennifer is not alone. Jennifer Lopez is paid by Coty Fragrances, Kohl’s, Viva Movil, Fuse, and L’Oréal Paris.

Shaquille O’Neal seems to never have found an offer he can’t refuse! He has over 50 endorsement deals from Quick Sticks to 24 Hour Fitness to Soda Shaq.Do product endorsements work when you have more than 50 @SHAQ? Click To Tweet

At what point do we stop believing? Too many endorsements from the same celebrity dilute their believability.

I believe Kirstie Alley, for example. I see her weight problem, I see her struggle, and I see her success. Her deal with Jenny Craig remains true.

Ok, off my soap box. What do you think? Let me know in comments below.

Continuing my blog series about naming sins, today’s post (er, rant?) is about acronyms. (See my other blogs about naming.) Acronyms are technically letters that are turned into words. The most famous and logical one is MADD: Mothers Against Drunk Driving.

5 Reasons Acronyms Never Work as Brand Names

Let me be clear: Acronyms virtually never work. why? Acronyms virtually never work as #brand names Click To Tweet 1. Customers Don’t Understand the Meaning of the Acronym –  Just because you think your name is clever doesn’t mean your customer does.  Yesterday, a newsletter flew by me announcing the company SMART. Oh, it’s so smart because it stands for Save Money And Reduce Taxes; who knew and who cares?

Before you start bombarding me with the success of AT&T, let me remind you that the company was started in 1885 so it has over 130 years of building mindshare!

1. Customers Turn Your Initials Into Pejoratives – IBM has morphed so many times (it is now a service company) that at one time employees called it I’ve Been Moved! Virtually every acronym can be turned into an unpleasant statement; remember SAP? Stand Up and Pay? Or even the derogatory definition of Ford: Fix Or Repair Daily?
2. Initials are Less Memorable Than Real Words – Research shows that in fact, acronyms have 33% lower recall rates. Acronyms are 33% lower in recall rates than words as #brand names Click To Tweet
3. Initials Sound the Same Causing a Mix Up – If I’m on the phone, did you say ID? Or IC? Or IE? See the problem? Acronyms don’t work as #brand names because initials sound the same Click To Tweet
4. Acronyms Stand for Many Things – In the Internet community, IP = Internet Protocol; in the legal world, IP = Intellectual Property. Avoid confusion by avoiding acronyms.Have I made my case yet? I know naming and getting a domain is difficult, but this is not the place to compromise; your brand sets the foundation for your entire company.  Need help? Schedule an intro phone appointment with me !

Ok, off my soap box. What do you think?  Let me know in comments below.

Marketing and branding are your secret weapons for sales, loyalty, and new customers. Let’s see how much you know! All answers are over at my blog.

1. What percentage of all email world-wide is counted as spam?

a.  66% b.  78% c.  81% d.  93%

2. How many blogs are there on-line?

a.  254 million b.  2 million c.  164 million d.  624 million

3. How many top-level domains are registered every day?

a.  1.2 million b.  12 million c.  750,000 d.  950,000

4. Which word typically sends your email to the spam bucket?

a.  Sale b.  Free c.  Guaranteed d.  Report

5. What year was BMW’s slogan of “the Ultimate Drive Machine” Introduced?

a.  1945 b.  1955 c.  1965 d.  1975

6. What percentage of salespeople give up after one follow up?

a.  66% b.  44% c.  21% d.  31%

7. What day is the best day for getting your e-mail open?

a.  Tuesday b.  Wednesday c.  Thursday d.  Friday

8. What percentage of voice mails are never returned?

a.  60% b.  70% c.  80% d.  90%

9. What percentage of salespeople ask for referrals?

a.  22% b.  11% c.  4% d.  35%

10. Which color is the least favorite color in the world?

a.  Pink b.  Yellow c.  Brown d.  Green

What killer statistic can you share? Let me know in comments below.

7 Insider Secrets to Getting You Funded

I’ve love seeing and working with brilliant entrepreneurs over at The Cove (part of UC Irvine’s Applied Innovation), but there, as is everywhere, creating a sexy pitch is paramount. Whether you want to get funded, appear on The Shark Tank, or get a green light for your project, you must create a pitch that works.

7 Secrets to Creating a Pitch that Gets You Funded Sexy soundbites are the secret sauce to successful #pitches to get #funded Click To Tweet

1. Create a Head Whip Effect in Your Opening Sentence – Startle us; give us an amazing statistic, tell us a story, but make sure we tune in from the get-go.
2. Make it Absurdly Simple – As I often say, “Your mother should be able to understand and invest” without a Harvard MBA. Yes; make it that simple!Make #pitches so clear even your mother understands enough to invest w/o @Harvard MBA Click To Tweet
3. Get Rid of Every Acronym – Your audience doesn’t work in your field so ANY acronym makes no sense to us; spell out every single word. From IP to FP.
4. Tell Me About Your Competitors – If you don’t have any competitors, I assume there isn’t a market. Very few products today are so revolutionary that they are the first in their field.Use metaphors to translate the unfamiliar to the familiar. Click To Tweet
5. Translate the Familiar to the Unfamiliar – When I was a book editor at Times Mirror, we often pitched new books this way: “it’s like a Sue Grafton murder mystery set in the 1800s;” or “It’s like Die Harder up in space.” Or, use a metaphor: it’s as if yogurt for the skin providing soothing relief.
6. Make An Ask – What do you want? How much money do you need? What is the next step you want to happen? Remember: There is no selling until you ask a question.
7. Master the Art of Q&A – Handling the question and answer period is rife with danger; it’s too easy to insult someone, speak over a question, or invent an answer. Practice handling rapid-fire questions in advance.

Need help with your pitch? Let me know! I love creating red-hot, sexy soundbites that turn heads…and get you funded.

The Power of Baby Steps to Reach Your Goal

1. I’m tired of excuses; please don’t tell me that I don’t understand – I do!
2. Don’t tell me that I don’t know what it’s like to be working on fumes for dollars – oh, I’ve been there!
3. Please don’t give me the excuse that you are busy – we are all busy, but we all choose how to spend our time.

This blog is about getting noticed, getting the attention, getting to the right person to fulfill your goals. It’s about giving up on dreaming and start doing. Let me be clear: opportunities don’t just plop in your lap; you earn them. #Entrepreneurs Mantra: Opportunities don’t just happen; you earn them! Click To Tweet

If you have your eyes on the prize (get promoted, win more clients, take more vacations, etc.), then make it happen. Break it down into baby steps so you are walking towards your goal.

If, for example, you want to get more speaking gigs, let me ask you:

1. How many phone calls did you make today?
2. How many new conversations did you have with meeting planners?
3. What did you do to enable more people to see you and hire you?

Nothing comes easy; not for me and not for you, but I often adopt this mindset: I refuse to be ignored! If I don’t get a return phone call, I’ll email, if I don’t connect on LinkedIn, I’ll find another way. If I believe I can really help a client grow her business, I’ll set up a meeting!44% of sales people give up after ONE follow up. Yikes! Don’t be one of those. Click To Tweet

I’ve written before about the importance of the correct follow up and there is a balance needed between persistence and stalking. But, I also know, that we are all busy and often my priorities aren’t yours. I might have to try later, reschedule, or calendar you for a different time when our priorities intersect. I once got hired EIGHT year after a company first saw me speak! They never forgot me because I stayed connected to them throughout all of that time.

I start every morning with action steps to grow my business. I’ll focus on new business in the early waking hours before servicing clients (those tasks come later in the day). Oh, and let me tell you I have set backs. So, what do I do?

I celebrate the small victories (woo hoo! Got the appointment), I acknowledge when there isn’t a fit (a “no” is often good to get you focused on the “yes”), and sometimes I just kvetch to my hubby (thanks, honey!), but these are the ways I stay sane.

If you’re ready to truly achieve a goal, write down one essential action step; just ONE! That’s all you need right now. Focus on that step and pursue it daily – no exceptions and no excuses.  And, let me know or comment below how it works.

Are you swimming in your lane: 4 Cool Questions to Ask Before You Step Outside of Your Core Competency

Can you believe I gave a speech on diversity? Why?  because I was greedy, ignorant, and needed the money. If you know me, you know that I speak on branding better and speaking gooder (OK- better) – that’s it!

But, I took the speech anyway thinking I can just research myself to a great talk – WRONG! The lesson that I learned the hard way is simply this: swim in your lane. When you try to jump into another lane, you drown.#Branding means swimming in your lane; don’t become a Swiss Army knife of skills. Click To Tweet

Very few people are like a Michael Phelps with the keen ability to swim the butterfly, breast stroke, backstroke and freestyle. Heck – we are experts if we are a master of one style, let alone four of them. And, more importantly, pretending to be an expert in all categories makes you a fraud in all of them.

BUT, if you seize a specialty, if you brand yourself in one area, you reap all of the powers of branding – strong word of mouth buzz, endless referrals, loyal clients, and more revenue.

4 Questions to Ask Before You Say Yes

SO, here’s my recommendation: Resist the temptation to say yes to everything (sorry, Shonda Rimes). Instead, ask yourself if the opportunity is:

1. Your Core Competency – If you’re a financial whiz and you get asked to take over the books for your fave non-profit, go for it! It will probably boost your reputation, help the cause, and even present amazing opportunities for you. Me? I’m all in when it comes to branding and speaking.
2. Fraught with Controversy – Make the decision if you’re ready to deal with the fallout. It’s a delicate dance as controversy sells. I was asked, for example, by The New York Times (really!) to discuss how to rebrand the State of Israel so that it would more likely reach peace. Even though I’m a branding expert, I am not a political relations expert. I turned it down.
3. Burnishes Your Reputation – I want so badly to jump into the fray of Trump vs. Clinton, but alas, I’m staying out of this one. There is just no way for me to win new business by jumping in.
4. Attracts The Right Tribe – I recently turned down a speech for a group of non-profit executives. Why? It was neither a paying gig or my particular target market.

All I can tell you is this: every single time I’ve taken an assignment that was a little off, I’ve paid the price. Either the event bombed or I was so consumed with the project that I had to turn down a perfect assignment.

Please don’t do it! If the next something comes your way and your logic and your gut says no, say no! (Do you promise?) Share your stories in comments below.

How to Avoid Creating the Grand Disconnect:

When the Brand Reality Doesn’t Meet Expectations

I am a true book lover and die-hard Amazon fan: I have an Amazon credit card, I have a prime account, I have TWO kindles (including a Kindle Fire, of course) so I couldn’t wait to visit Amazon Books open in my former home of San Diego.

My Underwhelming Experience at Amazon Books

Oh, my; I am so underwhelmed! The store that wowed me with technology? The Internet giant that introduced one-click? It set up a book store, er, like a book store. There is no killer techno wall, no flashy “hot new books” section; there wasn’t even a place to sit down and read a few pages. So, the internet behemoth which is always ahead of the curve was tragically at the end of the line looking like a small, Barns & Noble a la 1997.

Promo copy states that the store allows you to read reviews; true, own your own device! The reviews on the shelves are stagnant, paper one-liners just like anywhere else. I had visions of an electronic review below the books or the ability to search the book or….

The bottom line is that I was besieged with disappointment: the brand experience didn’t meet my expectation. Brand disappointment is when the expectation doesn’t meet the reality @AmazonBooks Click To Tweet

The exact situation occurred when my Staples credit card was stolen and $4,000.00 worth of gift cards were charged to my account. Dealing with Staples wasn’t easy; it was a nightmare! It was another case of not living the brand.

4 Steps for Ensuring Your Brand Expectations Meets Reality

So, how you manage brand expectations?

1. Understand Your Brand DNA – Get clear on who you are and who you’re not. Fair Warning: this exercise takes work in terms of understanding how others perceive you; you must be clear on how vendors, clients, and colleagues see your strengths. (Drop me a line if you need help on this exercise.)
2. Create a list of what you will do…and what you will never do
3. Identify who your target is…and who it isn’t
4. Turn your lists into commandments that you never violateTo understand #BrandExpectations, understand your #BrandDNA first Click To Tweet

To fully live your brand means that not everyone will like you. In fact, you will earn raving fans and chalk up unhappy prospects who never want to work with you; that’s OK. If everyone loves you, you are not a brand!If everyone loves you, you are not a brand! Click To Tweet

BUT, if you get comfortable and sure in who you are, you are poised to conquer your market: you offer what your clients need in a way they want to receive it; you offer an experience and you have the opportunity to charge a premium price. In essence, you have morphed into a brand – congratulations!

Share your story below!

To your sizzling success,

Liz