Making More Money
By Adam Radzik
Consultant to Professional Firms

Professionals I coach frequently ask, “Adam, how can I make more money? I work long hours as it is. When I finally get home , I plop down exhausted in front of the television and usually vegetate there until I doze off. Just working more hours can’t be the answer. I have a lot of expenses with two kids in college, parents who need help and a boat that is bankrupting me. I need more money!”

I respond with the tale of Pecos the Peddler. The location was Wyoming. The time was the summer of 1850. The weather was humid and hot. Pecos had been sitting on his sore backside for several hundred miles in his rickety wagon, which had been begrudgingly pulled by his tired old mare, Prairie. Finally, the thirsty pair arrived at the Donovan farm and were greeted by the widow Katie Donovan. Katie offered man and horse fresh water from her cool well. “Pecos, What can I do you fer?” Katie inquired. “Thank you for your kindness, Miss Katie, and you’re looking mighty fine, ma’am…” “Yes, yes , Pecos. I know I am the most beautiful woman you’ve ever laid eyes upon, but what brings you here today anyway?” “Well, I was kinda wonderin’ if you might need some corn seed?” Katie shook her head no. “How about some wheat seed? I have the best from…” Katie again shook her head no. “What about rye seed?” Katie stopped him. “Pecos, we don’t need any seed at all.”

Pecos sighed deeply, tipped his Stetson, turned around, got on his creaking wagon and goaded Prairie to take the 170 -mile ride southeast to his next possible customer. Katie called after him, “Pecos, you sure come a long way not to make a sale!” Not even turning around, Pecos yelled, “ That’s right, ma’am, and most days are just like this one! ”

After the peddler’s wagon disappeared down the dusty trail, Katie thought to herself, “Pecos should be selling a lot more than seed. I would have bought some of that hazelnut chocolate from him if he woulda had some!”

Professionals are often in the identical situation. They do a lot of networking (give talks, join associations) only to find out that a specific target doesn’t need their service at that time (doesn’t need any seed). They believe they have invested a lot of effort for nothing, and they leave the association meeting disappointed at having made no sale.

But what if Pecos the Peddler carried more than seed in his wagon? What if he also carried cloth and ribbon and pots and pans and chocolate and candy and reading primers and romantic novels? Wouldn’t Pecos have had a much better chance of making a sale or even several sales to Katie?

What if the professional carried around in his/her imaginary wagon a whole array of services, not only his/her own service but also the services of everybody at his/her firm? Wouldn’t he/she have a much greater chance of making a sale to that same individual whom the professional met at the trade association meeting?

Virtually every prosperous firm is actively involved in cross-selling activity, while others continue to act like a confederation of sole practitioners who are only sharing the same roof, the same secretarial pool and the same water cooler.

In summary, the way to make A LOT MORE MONEY is to sell all the services of your entire firm. Professionals who actively cross-sell double and triple their incomes without significantly increasing their individual workloads. Isn’t that motivation enough?

For assitance with your cross-selling, please contact SIC today.


Comedy Corner

“The Ultimate Networker” George LeGrande, the managing partner of Hogan and Gruen, was an annoyance to his friend and colleague Chet Reid. Chet was the managing partner of Reid and Schlagel, the firm across the hall in the prestigious building they shared downtown. Whenever they lunched, people in the restaurants always recognized George. They waved to him, smiled at him and often came over to say hello. Hardly anyone ever did the same for Chet.

“So many people know you! It’s unbelievable!” Chet moaned enviously. George smiled at him benignly and placed his large hand on Chet’s shoulder . “It’s very simple, Chet. I know everyone and everyone knows me!” George raised his other hand in the air as if to say, What can I do? Chet angrily removed his hand. “This is completely ridiculous! I’m going to prove that you are completely wrong.” From that day on, Chet took George to a different restaurant every day. Unfortunately for Chet, wherever they dined the “Hi, George!” phenomenon repeated itself. Chet was beside himself. “Okay, so they know you in town. Big deal! I’m sure that outside this area people don’t know who George Le Grande is .” George smiled patiently, “Like I said, Chet, I know everybody and everybody knows me.”

Chet lost his temper. “George, you are an arrogant egotist, and I’ll bet you $10,000 that there is someone who doesn’t know you.” To Chet’s surprise, George accepted the bet. “ Now I have you! I’ll bet that the pope doesn’t know who you are!” George replied, “Okay, let’s fly to the Vatican and find out!” Gleefully, Chet agreed and booked the Rome flight. Sunday found the two of them in the majestic S t. Peter’s Square. George instructed Chet to wait by the large wooden doors of the church while he went in. Within minutes, there was a trumpet blast and the huge medieval doors swung open and out walked George arm in arm with the smiling pope, conversing like they were old school buddies. Chet was in shock. “Oh, my God, can you believe that?” he exclaimed. “Do you realize who that is?” he asked an Italian policeman who was standing in front of him. In a strong accent, the policeman replied, “I don’t know who the funny guy with the pointed hat and the shiny robes is, but I sure know the other guy – he’s George LeGrande from America. Hey, hi, George! ” The policeman and bystanders reported that it was at that point that Chet Reid fainted.