Witney Accountants - Smith Kennedy Ltd

What to do if the Queen is your client – top tips on credit control

Alan Kennedy — Fri, 02 Mar 2012 10:34:10 +0000

Many years ago I came across a business which was unfortunately in severe difficulties. It was a buildler. He built some of the best houses known to man! Unfortunately he came across a nasty person who just decided (probably for the fun of it) not to pay his last invoice (£80,000). My client was angry, frightened (he thought he would go bust), embarrassed and petrified of what his bank manager was about to say.

Fortunately we managed to plan a way out of the problem: we found a venture capitalist to bail him out and then he went from strength to strength.

This taught me and him a lot of lessons. Initially he blamed the customer. He wasn’t very happy when I made the comment, “It was your fault. You gave the credit that you couldn’t afford to lose”, but in his heart of hearts he knew it was true. We developed the maxim for the next house, “Even if the Queen is the customer, and Buckingham Palace is the security, the credit limit is £5000″.

One of the incidental side effects of using Smith Kennedy as a firm of advisors is that you get a whole load of free advice. If you have a look at our website you can see our top tips on credit control here . If you want more details of our free advice, including money back guarantees give me a call on 0845 257 6246.

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How to Build Rapport with People at Business Networking Events

Alan Kennedy — Tue, 10 Aug 2010 11:25:04 +0000

You must have heard the phrase, ‘It’s not what you know, it’s who you know’.

It doesn’t matter how talented or gifted you are, or how many amazing business ideas you have, if people do not know about your existence. It’s always been this way. You need to get people to know you and your business. You need to meet people. You need to network. Business Networking events are a great place to start.

Today, networking is about building honest and mutually beneficial relationships. Whether you are networking online or offline you will need to build rapport with people, whether they are your colleagues at work, or the plumber that fixes your water supply, or your neighbours, business associates or just a vendor. In fact when you first start networking, you need to build a rapport with everyone you see and meet.

It’s not difficult to build a rapport with people. You can start by acknowledging them. A simple gesture such as smiling, nodding and gesturing positively will help you start to build a genuine relationship with the people around you.

Then move on to a simple hello and see where the conversation takes you. The weather is always something us Brits like to talk about. Keep the conversation cheerful and light. Nobody wants to engage in a ‘weighty’ conversation right from the onset.

Another tip is that if you have had a bad start to your day, ensure you don’t infect others around you. Be positively assertive as nobody is attracted to conversation with a potential business contact if they appear down and morose.

I read this quote somewhere, ‘To create rapport, it is important to mirror, match and pace the person or persons with whom you are communicating.” In order to achieve this keep your sensory channels open. Listen, see and engage. Use creative and open ended questions when entering a dialogue and ensure that your body language reflects this approach.

Be outgoing and friendly. The secret to building rapport is to be seen to be helpful and interested. When asked, tell people about yourself and your goals. Use the 80/20 rule i.e. speak only 20% of the time and listen for 80% of the time. Too many people at networking functions spend their time talking about themselves and not listening to what the others have to say. Sometimes promotion is more effective when you listen.

Rapport is achieved when two people see each other’s point of view. Learn to appreciate those you are there to meet and try and be on the same wavelength. Be memorable not just visible. Highly memorable people develop rapport with almost every individual they meet.

Follow these simple steps to build rapport with people at networking events and remember that you are there to build quality relationships and connections that in time will translate into business opportunities.

Above all, have fun when you network!

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Bringing the fun back into business

Alan Kennedy — Tue, 13 Jul 2010 07:40:04 +0000

The other day I walked into a networking room, it was lovely. I knew all the people there, there were lots of friends; a lot of laughter and most importantly mutual referrals were flowing well. It has not always been like that though. The first one I ever went to, I didn’t know anyone, no one talked to me (I am an accountant so I am used to having no friends!) and when I eventually sat down for lunch it was next to two people who would never refer me any work and I would not want to work for them.

How did I get from untold pain to extreme happiness? Well it took me a long time but if you want a brief synopsis have a look at my 5 top tips for making networking work for you.

1) Realize the importance of Networking

First things first, understand and realize the importance of networking. If you ask any successful business owners, they will tell you how excellent networking skills are really the backbone of any successful business. Networking helps create a circle of like-minded people who can share ideas, opinions with you. Through 1 good contact you can open up doors to 200 others. Keep in mind that it’s all about being genuine and original, building relationships and trust.

2) Be Positive

Be positive about yourself and your image. First impressions can be conclusive, so make sure to dress well. Also, speak well, and maintain a positive body language and posture. Above all attend those meetings with an attitude ‘to help’ and it will be duly reciprocated. By sharing your expertise and how it can help others, you will soon gain a positive reputation and will attract people like lights attract moths!

3) Listen Actively

Social Networking is not about selling your product. It’s about building relationships and contacts. Listen actively to people as it shows them that you understand. Allow people to speak openly and without any hesitation – and you will be able to do that only if you listen actively. Use positive body language to acknowledge what is being said. In this era, listeners are hard to come by and those who listen laugh the loudest as they are the ones who would have managed to build a rapport!

4) Talk to everyone

Keep moving around. It is important that you meet as many people as you can. Don’t get struck into lengthy, overdrawn conversations. If things have worked well with someone follow up with emails or telephone calls. Also, always carry business cards as they are the easiest way to remember you. Make it as easy as possible for people o contact you.

5) Be yourself and don’t forget to have fun!

I can understand that initially one can feel a little nervous about networking. Don’t worry; throw caution to the wind. Everybody in the networking room is there for the same reason: to build contacts. Talk to people who are on their own. You might find somebody who is also looking to share ideas. Most importantly, breathe easy and do not pretend to be someone you are not!

How to Build Rapport with People at Business Networking Events