Today’s Tip: People keep asking me, “When do you think this recession will be over?”  My standard answer is, “Nobody knows, but it’s best to prepare for the worst and hope for the best.”  But my real answer is that there is an abundance of opportunity waiting for you. The first place to stop the economic downturn is between your own two ears.  

For more tips, scroll to bottom of this page.            

SHOULD YOU HAVE PAPER LITERATURE IN A PAPERLESS WORLD? – Sept-2011 

Fifteen months ago, my brainstorming group told me I was crazy to invest in hard copy literature to promote my business.  “Everything is digital now,” my peers assured me.  “People can get your information on the internet and through social media.”              

I was tempted to bag the project for new hardcopy literature, but was haunted by the identical comment made by dozens of prospects over recent years when I called them to discuss my brochure. “I’m so sorry, Rick,” they consistently said. “Your brochure is sitting right here on my desk and I’m looking at it now. I apologize that I haven’t had time to look through it yet. Can we talk next week?”              

I hang up the phone and smile, knowing that an e-mail would be lost at the bottom of an avalanche of electronic communication while my logo and brand sits on the decision maker’s desk like a daily billboard. So, Yes!  I’m all for the new methods of marketing. After all, I am promoting my blog in a variety of social media formats. But I still recognize that a lot of old school decision makers want something they can touch and feel.              

I think about the calls I get from phone companies urging me to switch to their services. I ask every time if they can send me a hard copy proposal or brochure. They tell me to go the internet, losing my attention instantly because I shouldn’t have to work to buy from someone. If you want your message to be heard, hard copy brochures must be a component of your sales and marketing game plan.              

THE DIRTY WATER AT THE MOUTH OF THE RIVER – June-2011        

The price objection is like the dirty water at the mouth of the river. If you try to clean up the water at the mouth of the river, you will never succeed. The pollution will continue filtering from upstream. Factories will dump waste while boats will sputter oil and careless picknickers will toss refuse into the streaming waters.                      

The price objection is the same because it usually is only a symptom of larger problems that occur early in the selling process. By the time your clients express frustration, it is too late. Prepare to handle the challenge of the price objection by addressing larger issues in the sales process.                      

Prospect more. If you can’t walk from a negotiation, you can’t win. The only way you gain the confidence to walk is by equipping yourself with alternatives in the event you lose the sale at hand. Prospecting provides choices and perceptions of abundance that enable you to reject bad offers from combative negotiators.                      

Diversify your client portfolio. This solution is like balancing and investment portfolio. Accept high volume, recurring business that is a low margin in order to be more selective about low volume opportunities and one-time event sales.                      

Ask if the timing is right. Salespeople that push to achieve sales before the client is ready, quickly discover that the only incentive they have to unmotivated clients is price. Don’t force timing and wait for ideal moments to close, such as when a client is dissatisfied with a current supplier.                      

Check your beliefs at the door. All clients do not conform to stereotypical behaviors. Some clients actually want to pay more as an assurance of quality while others will be combative negotiators. Some clients merely want to test the waters to ensure they are not being ripped off. Do not assume that all buyers are created equal and treat each situation uniquely.                      

Stop bidding and start proposing. If your price is too high, then your story is too short. Bidding is a voluntary reverse auction virtually guaranteed to lower your profit margins. A proposal includes a detailed description of the client situation, project analysis, product offers, work details, client responsibilities and more. Sweat the details and your clients will pay extra to gain access to your expertise.                      

When you lower your price, you send bad signals. Clients wonder why you didn’t give them the best price you had up front. They wonder if they are getting your rock bottom price. Remember that the only way your clients will know they are receiving your best price is when you tell them.                      

READY, FIRE, AIM - June-2011

Masters of Business are exceptional strategists. Entrepreneurs are exceptional doers. The greatest entrepreneurs of our times are those that get things done and then observe results.  They are visionary risk takers focused enough to get one thing done at a time.                      

Ted Turner insisted that CNN would offer news 24-hours per day in spite of studies that showed no interest from the American Public. Turner simply said they would watch and obviously he was right.  Nikolas Tesla invented the alternating current system of generators to replace the accepted direct current powerhouses provided by the most famous inventor of his day, Thomas Edison. Because of his vision and commitment to fire out a new invention, today the entire world runs on the Tesla’s alternating current.                      

These great visionaries and thousands of others were fearless innovators. Don’t overanalyze. Instead just do! In the sales profession, it means holding your price one time even when every fiber of your being tells you to reduce it. It means participating in social media such as LinkedIn and Facebook even when you don’t yet know what results you will receive.                      

There is an old saying that goes, “If you do what you have always done, you will get what you always got.” To that I say, “If you do the same thing you have always done, you’re going to lose to someone who is evolving to get better.” Instead of waiting until the stars align to begin to take your next risk in life, just shoot and aim later.                      

THE SALE TOO LATE – June-2011

Buy a computer and the checkout clerk asks you to spend a few bucks on the extended warranty. You say “no” because you already know the deal is a huge money maker for the store and therefore a losing deal for you. Quite obviously, the chance of your computer or any electro-gadget breaking down is lower than the value of the warranty price. Let’s reframe the situation….                      

A computer breakdown under standard warranty requires you to be without your computer for a week while sending it in for repair to a remote location. The mere thought is unthinkable. If the sales clerk had told you up front that a warranty provides you onsite service within 24 hours should anything go wrong, you would eagerly agree that the small fee for the warranty is minimal relative to the cost of down time for your business.                      

Perhaps it is more important for stores like Staples, Office Depot an Best Buy to recognize the value of including warranties as standard inclusions to the pricing. They should then teach salespeople to offer the option to remove the warranty if they want to lower the price. This approach would sell a lot more warranties and provide a better service to clientele.                      

The moral of the story is that you should sell value up front relative to the total cost of business. Nobody wants to pay extra for a losing proposition, but everyone wants to lower the total cost of ownership.                      

PAST TIPS OF 2011 & 2012©

© Building Leaders, Inc. All Rights Reserved                     

February-20-2012: I’ve decided that my problem of expecting perfection in myself diminishes the joy of the things I accomplish and creates unrealistic expectations I have of other people.   So…I’m giving up on perfectionism. Or at least I’m trying to, but I’m not always perfect at it. 

February-17-2012: Last night I dreamt that I ate a giant marshmallow and this morning woke without a pillow.   

Ok!  It’s not a business tip!  But your kids might like the joke.  Have a great weekend!    

February-16-2012: The biggest mistake salespeople make is to lose focus. Define the type of client you are seeking or else you won’t find them.     

  

You can’t be all things to all people, but you can be the best solution for a specific segment of the market. It’s a sure formula for success.     

February-15-2012:  The great poker legend, Doyle Brunson, is famous for saying, “I’d rather wind a small pot than lose a big one.”  In business, it’s better to earn a profit from a small sale than to lose money on a big sale.     

Recognize the value of profits and believe that a lot of small sales can add up to big profits.     

February-14-2012:  Anyone who heeds the words of Michael Corleone, “It’s just business,” is missing the big picture. Business IS personal.  The moment you try to make business impersonal, you start to lose focus.      

    

      

February-13-2012: When patients enter the emergency room, the doctor performs triage, the process of sorting patients to prioritize the attention of the medical staff.  If decisions were left to the patients, every one of them would choose to go first.  When it comes to time managment, you are the doctor! It is up to you to prioritize the scare resource of your time.       

February-10-2012:  Good leaders are able to take constructive feedback from others.  Great leaders proactively seek it.      

February-09-2012: Great leaders identify the importance of tasks and define the benefit of the outcome for everyone involved.  Employees who know the goal are often the people best equipped to create actions that deliver the goal.  Define your vision and involve people in the process of achieving it.     

February-08-2012: The fastest way to destroy attitudes is to criticize performers publicly.  Great leaders deliver criticism privately and focus on behaviors, not attitude.  You can’t manage the attitudes of others, but you can manage their performance.     

February-07-2012: If a leader can’t adequately define the actions that will produce future results, then there is no point in criticizing results.  Great leaders inspect performance before results.     

February-06-2012: Compensation is like the chicken and the egg.  Which comes first – good pay or worthy effort?  It seems employers don’t want to pay until they get results; employees want better pay before committing to hard work.     

February-03-2012: If you don’t know who the sucker is at the poker table, it’s probably you.  If you run into 2 or more jerks during the course of the day, it might not be them.        

Be nice; forgive freely; judge less. Have a great weekend!        

February-02-2012:  If you’re like me, you don’t like voice mail, giving or receiving. The problem is that voice mail is often the only way to make initial contact with prospects. Thus, if you hope to get a return phone call from a prospect, you should prepare a voice mail script that defines your unique selling proposition.         

P.S. Don’t forget to slow down when leaving your phone number. If you disagree, then please feel free to call me at seven seven three seven six nine ushem nine forthkitthrigbee.        

February-01-2012:  The things other people say about you are more important than the things you say about yourself.  Provide testimonials and referrals to enhance your credibility.          

January-31-2012: Make your presentations more effective by sharing your case studies of success.          

Tell your prospect about a similar situation one of your client’s faced and how you helped.         

January-30-2012: A salesperson who doesn’t prepare and practice their presentations before the heat of battle is as naive as a basketball player who doesn’t practice his free throws before a game.         

This week’s tips will provide additional ideas that will help you prepare better presentations.          

January-27-2012: A salesperson who doesn’t prepare and practice their presentations before the heat of battle is as naive as a basketball player who doesn’t practice his free throws before a game.         

This week’s tips will provide additional ideas that will help you prepare better presentations.          

Have a great weekend!         

January-26-2012: Great Leaders are energy givers who proactively give credit to others rather than seeking recognition for themselves.         

January-25-2012: Leadership is not a skill that arises out of heredity or genes. Leadership is a skill that takes a lifetime commitment. My friend, Tom Triboletti, reminds me that even when you become a credible leader, you must hone your leadership skills constantly and vigilantly manage your role as a humble servant to your followers.         

Leadership is a skill that is in constant development and evolution.         

January-24-2012: My friend, Dave Cochron, told me his New Year’s resolution is to be more sensitive to the opinions of others. It’s a good one! If you want to be heard, then you must also hear.         

January-23-2012: I’m going to share with you one of the new phrases I give during my presentations. With regularity I tell my audiences “I’m not asking you TO believe me. I’m asking you IF you believe me.”         

If you pressure people to believe you, resistance rises. If you invite people to believe you, then your viewpoint is more readily embraced.         

January-20-2012: One of the biggest mistakes presenters make in meetings is to talk out of the gate. Strive to ask questions of your audience prior to a presentation. Let me explain this one.         

When I am giving a keynote presentation to two hundred people, I have no choice but to talk…which is why giving a keynote is the hardest form of presentation. You have no feel for the audience “temperature”. Thus, whenever possible, I open meetings by asking attendees what goals they have for the meeting. I strive to understand their views on a particular subject before my formal presentation begins.         

Take the temperature of your audience, even in one-on-one dialogues, prior to a presentation. Your words will flow more naturally.         

Enjoy your weekend and strive to listen more closely to the loved ones in your life.         

January-19-2012: If possible, avoid handing out samples and exhibits during large meeting functions. I have sat in many meetings where samples are passed around the room and discover that the audience murmur and attention deflection distracts the room. Instead keep your samples in hand and encourage people to take a look at them during a break or at the conclusion of your presentation. You retain better control of the meeting and gain opportunities for meaningful one-on-one dialogue with interested individuals.         

January-18-2012: If you are planning a large event, strive to create seating that engages your audience. Classroom style, in my opinion, is the worst because it makes adults feel like school children. For small meetings, I favor a horseshoe configuration or, when possible, a conference table style. For larger audiences, I highly recommend a half-crescent seating arrangement in which round tables are set up with chairs that don’t fully wrap around the table so all participants are facing the front of the room.         

The half-crescent seating provides the nicest workspace and creates natural interaction among participants to improve learning and networking potential.         

January-17-2012: As a career presenter, I have learned that the best way to keep people engaged during a lengthy meeting is engage the analytical portion of the brain first and work over to the creative side later. Thus if you are planning a long conference, strive to cover technical information first – e.g. product data, legislative content. Then shift the meeting to creative – e.g. presentation ideas, interactive brainstorming sessions.         

The right hemisphere of the brain is the creative and the left is analytical. If you want to keep people engaged during a long meeting, plan to engage the creative hemisphere during the later portion of your engagement. It will keep your audience involved.         

January-16-2012: I have observed that meeting hosts strive to pack as much information as possible into meetings. If you overstuff your time allocated, you’ll discover that people are not anxious to have follow up dialogues with you.         

Whether you are scheduling a formal conference or a casual one-on-one meeting, plan to cover half as much content as you think you can cover. The interaction will be stronger and people will be eager to have follow up dialogue with you.         

January-13-2012: I have never been very superstitious, but always fascinated by the things that drive people to believe in luck. I tried to find out the origins of the Friday the 13th superstition, with no luck. Much like a black cat, breaking a mirror, it is a superstition whose origin has been lost in the vague fog of time. This much I do know… Success is a matter of luck. But winners stack the deck.         

Go make it a lucky weekend!          

January-12-2012: My friend, Ted Lavin, reminds me that we can never take ourselves too seriously. If you can’t laugh at yourself sometimes, then you probably need to lighten up. Good advice!          

January-11-2012: This tip comes compliments of Kirk Bender, a sales Leader at one of the most progressive companies in our industry. He suggests that you Visualize the process before you begin. Once you see it in  your mind’s eye, he writes, the physical manifestation is easy.          

January-10-2012: The difference between a Sales Service rep and a Sales Leader is that the Service rep focuses on maintaining the relationship while the Leader gets busy contributing to the success of his clients. If you are in business to business sales, I encourage you follow the link to my latest White Paper -The New Brand Communication. It is full of insights that you must share with your clients if you want to establish a Leadership role in their organization.         

January-09-2012: Today’s tip comes from Burt Ising. He is a friend in pursuit of personal growth and continues to evolve into his 60s. Burt amazes me with his enthusiasm and youthful approach to adaptation. So, it was no surprise when he told me that his New Year’s Resolution is to eliminate the words, “We’ve always done it this way.” Instead, he’ll strive to ask, “What will work best in today’s environment?”         

I think his healthy approach to change is one from which we can all learn. You’ve heard it said that the only constant is change. Truer words have never been spoken.         

January-06-2012: It’s not too late to write down your goals and resolutions for 2012. I know with certainty that written goals get accomplished. Write down your goals. If you can’t write them, you can’t commit to them.         

Have a great weekend!         

January-05-2012:  HAPPY NEW YEAR!         

My resolution for the new year is to resist giving my opinion unless I’m paid to do so or asked. Too many people volunteer their opinions to an unwelcoming audience. As a very opinionated guy, it’s a tough resolution…but I’m going to try.         

P.S. Another goal for the New Year is to renew my commitment to providing a meaningful tip every morning to support a friend like you!         

If you have a tip or a New Year’s resolution worth sharing, let me know!         

December-23-2011: Did you know that the iris, the portion of the eye surrounding the pupil which gives the eye color, is unique in every person? Irises are as unique as fingerprints and point to the individuality of every human being on the planet.         

Look into the eyes of people when you communicate. You will better understand how they see the world and gain a unique vision into the soul.           

December-22-2011: I say again…It’s not about price!  (I’m sure about twenty people will write me and tell me how wrong I am!).  But it is NOT about price. Sales success is about profits. I tell my clients that my service is not a bottom line expense; it is a topline investment…and then I back it up.          

If you can’t show your clients how they will make money or gain in some capacity, then you will always fall victim to price negotiations. Analyze carefully the return on investment you provide and you’ll be better prepared when negotiations begin.         

December 20, 2011: Sell what people will get, not what you give. You may give the greatest product of all time to your clients, but that is not what they will receive. Measure what your clients receive from your products and services.         

Sell the ways in which you save them money, increase sales, produce a competitive advantage, build prestige, maintain comfort, or any other number of benefits. It’s not the features of your products that matter. It’s the results your clients achieve.           

December 19, 2011:  As I watched the NFL yesterday, I couldn’t help but observe the celebrations that individuals make after big plays…even when their team is on the verge of losing the game!