Monday, October 4, 2010
Top 10 Inspirational Business Quotes
Top 10 Inspirational Business Quotes
#1: Steve Jobs, Apple
“Believe that things will work somehow out… follow your intuition and curiosity… trust your heart even when it leads you off the well-worn path… You have to trust that the dots will somehow connect in your future… The only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it… Have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.”
#2: Oprah Winfrey, Harpo
“What I know for sure is that if you want to have success, you can’t make success your goal. The key is not to worry about being successful, but to instead work toward being significant – and the success will naturally follow… If you do work that you love, and work that fulfills you, the rest will come. And, I truly believe, that the reason I’ve been able to be so financially successful is because my focus has never, ever for one minute been money. Would you do your job and not be paid for it? I would do this job, and take on a second job just to make ends meet if nobody paid me. That’s how you know you are doing the right thing.”
#3: Tony Robbins
“A real decision is measured by the fact that you’ve taken a new action. If there’s no action, you haven’t truly decided… The most important thing you can do to achieve your goals is to make sure that as soon as you set them, you immediately begin to create momentum. The most important rules that I ever adopted to help me in achieving my goals were those I learned from a very successful man who taught me to first write down the goal, and then to never leave the site of setting a goal without first taking some form of positive action toward its attainment.”
#4: Ted Turner, Turner Broadcasting
“All my life people have said that I wasn’t going to make it… You can never quit. Winners never quit, and quitters never win.”
#5: Anita Roddick, The Body Shop
“Whatever you do, be different – that was the advice my mother gave me, and I can’t think of better advice for an entrepreneur. If you’re different, you will stand out.”
#6: Tony Robbins
“For changes to be of any true value, they’ve got to be lasting and consistent. Any time you sincerely want to make a change, the first thing you must do is to raise your standards… If you don’t set a baseline standard for what you’ll accept in life, you’ll find it’s easy to slip into behaviors and attitudes or a quality of life that’s far below what you deserve… Whatever happens, take responsibility… The only thing that’s keeping you from getting what you want is the story you keep telling yourself.”
#7: Chris Gardner, Gardner Rich & Co.
“Find something that you love. Something that gets you so excited you can’t wait to get out of bed in the morning. Forget about money. Be happy.”
#8: Donald Trump
“I was relentless, even in the face of total lack of encouragement, because much more often than you’d think, sheer persistence is the difference between success and failure.”
#9: Isadore Sharp, Four Seasons
“Whatever you do, don’t ever use a crutch, and don’t ever think of having an excuse for not having said, ‘Yeah, I did my best.’”
#10: Trip Hawkins, Electronic Arts
“One quality of entrepreneurship is just persistence, not giving up because you have road blocks and also not giving in because other people tell you that you’re nuts. You are nuts and you should be proud of it. Stick with what you believe in.”
#1: Steve Jobs, Apple
“Believe that things will work somehow out… follow your intuition and curiosity… trust your heart even when it leads you off the well-worn path… You have to trust that the dots will somehow connect in your future… The only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it… Have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.”
#2: Oprah Winfrey, Harpo
“What I know for sure is that if you want to have success, you can’t make success your goal. The key is not to worry about being successful, but to instead work toward being significant – and the success will naturally follow… If you do work that you love, and work that fulfills you, the rest will come. And, I truly believe, that the reason I’ve been able to be so financially successful is because my focus has never, ever for one minute been money. Would you do your job and not be paid for it? I would do this job, and take on a second job just to make ends meet if nobody paid me. That’s how you know you are doing the right thing.”
#3: Tony Robbins
“A real decision is measured by the fact that you’ve taken a new action. If there’s no action, you haven’t truly decided… The most important thing you can do to achieve your goals is to make sure that as soon as you set them, you immediately begin to create momentum. The most important rules that I ever adopted to help me in achieving my goals were those I learned from a very successful man who taught me to first write down the goal, and then to never leave the site of setting a goal without first taking some form of positive action toward its attainment.”
#4: Ted Turner, Turner Broadcasting
“All my life people have said that I wasn’t going to make it… You can never quit. Winners never quit, and quitters never win.”
#5: Anita Roddick, The Body Shop
“Whatever you do, be different – that was the advice my mother gave me, and I can’t think of better advice for an entrepreneur. If you’re different, you will stand out.”
#6: Tony Robbins
“For changes to be of any true value, they’ve got to be lasting and consistent. Any time you sincerely want to make a change, the first thing you must do is to raise your standards… If you don’t set a baseline standard for what you’ll accept in life, you’ll find it’s easy to slip into behaviors and attitudes or a quality of life that’s far below what you deserve… Whatever happens, take responsibility… The only thing that’s keeping you from getting what you want is the story you keep telling yourself.”
#7: Chris Gardner, Gardner Rich & Co.
“Find something that you love. Something that gets you so excited you can’t wait to get out of bed in the morning. Forget about money. Be happy.”
#8: Donald Trump
“I was relentless, even in the face of total lack of encouragement, because much more often than you’d think, sheer persistence is the difference between success and failure.”
#9: Isadore Sharp, Four Seasons
“Whatever you do, don’t ever use a crutch, and don’t ever think of having an excuse for not having said, ‘Yeah, I did my best.’”
#10: Trip Hawkins, Electronic Arts
“One quality of entrepreneurship is just persistence, not giving up because you have road blocks and also not giving in because other people tell you that you’re nuts. You are nuts and you should be proud of it. Stick with what you believe in.”
Sunday, September 19, 2010
Pricing Strategies
What price should you ask for your product or service?
If you want to set a price that brings with it a healthy profit... something that will most definitely keep that wolf from howling at your door (and the bank manager at bay)... read our '4 Key Pricing Strategies' below.
4 Key Pricing Strategies
There are at least four ways to calculate your pricing structure:
Cost-plus pricing is calculated on the cost of producing your product or service plus an amount that you need to make a profit. This is usually expressed as a percentage of the cost. It is generally more suited to businesses that deal with large volumes or which operate in markets dominated by competition on price.
Value-based pricing focuses on the price you believe customers are willing to pay, based on the benefits your business offers them. It depends upon you being able to clearly define and demonstrate the benefits your product or service provides to customers.
Target-return pricing involves setting a price to achieve a target return on your investment.
Psychological pricing takes into account your customers' perceptions of your price, including positioning, popular price points (the point at which they are more willing to make a purchase), and fair pricing (what they consider to be 'fair').
1.Pricing Tactics Discounting
Discounting can be a powerful short-term measure but it does carry some dangers too. You could use it to get rid of old stock or to encourage large orders. Consumers may balk at paying full price in the future or begin to perceive your product or service as somehow inferior to competitive brands. Discounting may send a signal to consumers that price is negotiable and that value can be given away. Trying to sweeten the deal by bundling additional products and services with the core offering can drive up costs (and decrease profits) and teach consumers that the product or service is not valuable.
2.Odd Value Pricing
If your consumers buy primarily on price, you can offer your products at a penny or two less than normal on bulk orders.
3.Low Pricing To Attract New Customers
You can sell a product at a low price with the sole aim of winning new customers.
4.Skimming
If your product or service is unique in the market, you can sell it at a high price. There's a danger that you could just price yourself out of your market.
Penetration
To gain market share, you can sell your product or service at a lower price and gradually raise your prices.
Conclusion
However you price your product or service, take time to measure the impact it will have on consumer perception and demand and of course, on your company's long-term profits.
If you want to set a price that brings with it a healthy profit... something that will most definitely keep that wolf from howling at your door (and the bank manager at bay)... read our '4 Key Pricing Strategies' below.
4 Key Pricing Strategies
There are at least four ways to calculate your pricing structure:
Cost-plus pricing is calculated on the cost of producing your product or service plus an amount that you need to make a profit. This is usually expressed as a percentage of the cost. It is generally more suited to businesses that deal with large volumes or which operate in markets dominated by competition on price.
Value-based pricing focuses on the price you believe customers are willing to pay, based on the benefits your business offers them. It depends upon you being able to clearly define and demonstrate the benefits your product or service provides to customers.
Target-return pricing involves setting a price to achieve a target return on your investment.
Psychological pricing takes into account your customers' perceptions of your price, including positioning, popular price points (the point at which they are more willing to make a purchase), and fair pricing (what they consider to be 'fair').
1.Pricing Tactics Discounting
Discounting can be a powerful short-term measure but it does carry some dangers too. You could use it to get rid of old stock or to encourage large orders. Consumers may balk at paying full price in the future or begin to perceive your product or service as somehow inferior to competitive brands. Discounting may send a signal to consumers that price is negotiable and that value can be given away. Trying to sweeten the deal by bundling additional products and services with the core offering can drive up costs (and decrease profits) and teach consumers that the product or service is not valuable.
2.Odd Value Pricing
If your consumers buy primarily on price, you can offer your products at a penny or two less than normal on bulk orders.
3.Low Pricing To Attract New Customers
You can sell a product at a low price with the sole aim of winning new customers.
4.Skimming
If your product or service is unique in the market, you can sell it at a high price. There's a danger that you could just price yourself out of your market.
Penetration
To gain market share, you can sell your product or service at a lower price and gradually raise your prices.
Conclusion
However you price your product or service, take time to measure the impact it will have on consumer perception and demand and of course, on your company's long-term profits.
Wednesday, September 15, 2010
Three Skills to Improve Conversation
Three Skills to Improve Conversation
One key to becoming a great conversationalist is to pause before replying. A short pause, of three to five seconds, is a very classy thing to do in a conversation. When you pause, you accomplish three goals simultaneously.
The Benefits of Pausing
First, you avoid running the risk of interrupting if the other person is just catching his or her breath before continuing. Second, you show the other person that you are giving careful consideration to his or her words by not jumping in with your own comments at the earliest opportunity. The third benefit of pausing is that you will actually hear the other person better. His or her words will soak into a deeper level of your mind and you will understand what he or she is saying with greater clarity. By pausing, you mark yourself as a brilliant conversationalist.
Ask Questions
Another way to become a great conversationalist is to question for clarification. Never assume that you understand what the person is saying or trying to say. Instead, ask, "How do you mean, exactly?"
This is the most powerful question I've ever learned for controlling a conversation. It is almost impossible not to answer. When you ask, "How do you mean?" the other person cannot stop himself or herself from answering more extensively. You can then follow up with other open-ended questions and keep the conversation rolling along.
Paraphrase the Speaker's Words
The third way to become a great conversationalist is to paraphrase the speaker's words in your own words. After you've nodded and smiled, you can then say, "Let me see if I've got this right. What you're saying is . . ."
Demonstrate Attentiveness
By paraphrasing the speaker's words, you demonstrate in no uncertain terms that you are genuinely paying attention and making every effort to understand his or her thoughts or feelings. And the wonderful thing is, when you practice effective listening, other people will begin to find you fascinating. They will want to be around you. They will feel relaxed and happy in your presence.
Listening Builds Trust
The reason why listening is such a powerful tool in developing the art and skill of conversation is because listening builds trust. The more you listen to another person, the more he or she trusts you and believes in you.
Listening also builds self-esteem. When you listen attentively to another person, his or her self-esteem will naturally increase.
Listening Develops Discipline
Finally, listening builds self-discipline in the listener. Because your mind can process words at 500-600 words per minute, and we can only talk at about 150 words per minute, it takes a real effort to keep your attention focused on another person's words. If you do not practice self-discipline in conversation, your mind will wander in a hundred different directions. The more you work at paying close attention to what the other person is saying, the more self-disciplined you will become. In other words, by learning to listen well, you actually develop your own character and your own personality.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, make a habit of pausing before replying in any conversation or discussion. You will be amazed at how powerful this technique really is.
Second, continually ask, "How do you mean?" in response to anything that is not perfectly clear. This gives you even more time to listen well.
One key to becoming a great conversationalist is to pause before replying. A short pause, of three to five seconds, is a very classy thing to do in a conversation. When you pause, you accomplish three goals simultaneously.
The Benefits of Pausing
First, you avoid running the risk of interrupting if the other person is just catching his or her breath before continuing. Second, you show the other person that you are giving careful consideration to his or her words by not jumping in with your own comments at the earliest opportunity. The third benefit of pausing is that you will actually hear the other person better. His or her words will soak into a deeper level of your mind and you will understand what he or she is saying with greater clarity. By pausing, you mark yourself as a brilliant conversationalist.
Ask Questions
Another way to become a great conversationalist is to question for clarification. Never assume that you understand what the person is saying or trying to say. Instead, ask, "How do you mean, exactly?"
This is the most powerful question I've ever learned for controlling a conversation. It is almost impossible not to answer. When you ask, "How do you mean?" the other person cannot stop himself or herself from answering more extensively. You can then follow up with other open-ended questions and keep the conversation rolling along.
Paraphrase the Speaker's Words
The third way to become a great conversationalist is to paraphrase the speaker's words in your own words. After you've nodded and smiled, you can then say, "Let me see if I've got this right. What you're saying is . . ."
Demonstrate Attentiveness
By paraphrasing the speaker's words, you demonstrate in no uncertain terms that you are genuinely paying attention and making every effort to understand his or her thoughts or feelings. And the wonderful thing is, when you practice effective listening, other people will begin to find you fascinating. They will want to be around you. They will feel relaxed and happy in your presence.
Listening Builds Trust
The reason why listening is such a powerful tool in developing the art and skill of conversation is because listening builds trust. The more you listen to another person, the more he or she trusts you and believes in you.
Listening also builds self-esteem. When you listen attentively to another person, his or her self-esteem will naturally increase.
Listening Develops Discipline
Finally, listening builds self-discipline in the listener. Because your mind can process words at 500-600 words per minute, and we can only talk at about 150 words per minute, it takes a real effort to keep your attention focused on another person's words. If you do not practice self-discipline in conversation, your mind will wander in a hundred different directions. The more you work at paying close attention to what the other person is saying, the more self-disciplined you will become. In other words, by learning to listen well, you actually develop your own character and your own personality.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, make a habit of pausing before replying in any conversation or discussion. You will be amazed at how powerful this technique really is.
Second, continually ask, "How do you mean?" in response to anything that is not perfectly clear. This gives you even more time to listen well.
Client Payment Problems?
Client Payment Problems? Try These 3 Simple Tips
Signing up new clients is a joy…unless their payment bounces. If that happens to you, you’re likely to feel guilty, uncomfortable and wonder what you did wrong. To top it off, a client whose payment bounces is likely to avoid contacting you, leaving you to wonder what to do next.
If this happens to you, the first thing to realize is it’s NOT PERSONAL. Yes, you’re the one temporarily getting the short end of the deal, but keep in mind it isn’t because you didn’t do enough, aren’t good enough or don’t deserve to be paid.
As a woman entrepreneur, you must learn how to navigate these kinds of sticky situations with grace, compassion and leadership. The good news is that if handled correctly, most client payment situations can be quickly resolved and can even help you deepen your relationship with your client.
Let me give you my 3 “best practices” tips for resolving client payment situations and eliminating any feelings of guilt, discomfort or self-blame in the process.
Tip #1 Don’t Let Your Feelings Hijack You From Standing In Your Power
Seeing that “sorry - payment declined” message appear in your inbox can trigger a whole host of feelings: from anger and righteousness to guilt or self-blame. Before you let these feelings hijack you from standing in your power, take a deep breathe… and another. This is not something that was done “to” you. It’s just something that happens when you’re in business.
What will help is if you think about your client for a moment. Are they likely feeling embarrassed, guilty or even humiliated? Probably. And if they are, they’ll typically avoid wanting to talk with you. Instead of letting them shut you out, simply email or better yet, call, and in a confident and compassionate tone of voice, tell them:
“I see that your payment didn’t go through and I’d like to talk with you about how we can get this taken care of.”
If you sound relaxed and confident they’ll feel reassured and you’re much more likely to create a positive outcome (hint: that means YOU getting paid!).
Tip #2 Know In Advance What Your Limits Are
When you discuss the situation with your client you’ll want to know in advance how far you’re willing to flex, how long you’re willing to wait and whether or not you’re willing to continue working with them until their payments are caught up.
At the beginning of your conversation, clearly indicate that you HAVE limits. Doing so will help you feel that you are standing in your power and are not helpless or a victim of someone else’s money drama.
For example, start your conversation by asking them what happened and what their plan is for correcting the situation. Suggest that they make a payment today, with you on the phone, even if it’s for a fraction of what they owe. At this delicate point, intention and consistency is more important than the actual dollar amount.
If your client is feeling like a victim of circumstances and isn’t able to make a commitment, then it’s time to let them know that while you understand they are in a tough spot, asking you to wait compromises your relationship and ability to create the results they want. Stand firm and ask them to creatively brainstorm ways they can create some ready cash. Trust me, if their LIFE depended on it, they would find the money!
Tip #3 Stand Strong — Your Client Is Looking To YOU As The Leader In This Situation
Always assume that this situation is temporary and that your client has every intention of paying. Usually this is the truth, and they just need a little support, a few extra days or some creative ways to get back on track. If you’re there as their advocate and collaborating together, their embarrassment will turn into relief and they’ll thank and appreciate you for your help and support. Just remember, THEIR payment dilemma is not YOURS to take on. By you standing in your power as leader, you’ll help your client stand in their power too, even when they initially didn’t feel they could.
While Client Payment Issues Aren’t Personal, They ARE An Opportunity For Personal Growth…
Experiencing the occasional client payment issue is a fact of doing business. If you’re experiencing this situation more than occasionally then it’s time to take a look at why you’re attracting these situations into your life. Whether they happen to you rarely or more frequently, each time is an opportunity for you to stand in your power — with compassion — and gracefully negotiate an outcome that’s a win-win for both of you.
Signing up new clients is a joy…unless their payment bounces. If that happens to you, you’re likely to feel guilty, uncomfortable and wonder what you did wrong. To top it off, a client whose payment bounces is likely to avoid contacting you, leaving you to wonder what to do next.
If this happens to you, the first thing to realize is it’s NOT PERSONAL. Yes, you’re the one temporarily getting the short end of the deal, but keep in mind it isn’t because you didn’t do enough, aren’t good enough or don’t deserve to be paid.
As a woman entrepreneur, you must learn how to navigate these kinds of sticky situations with grace, compassion and leadership. The good news is that if handled correctly, most client payment situations can be quickly resolved and can even help you deepen your relationship with your client.
Let me give you my 3 “best practices” tips for resolving client payment situations and eliminating any feelings of guilt, discomfort or self-blame in the process.
Tip #1 Don’t Let Your Feelings Hijack You From Standing In Your Power
Seeing that “sorry - payment declined” message appear in your inbox can trigger a whole host of feelings: from anger and righteousness to guilt or self-blame. Before you let these feelings hijack you from standing in your power, take a deep breathe… and another. This is not something that was done “to” you. It’s just something that happens when you’re in business.
What will help is if you think about your client for a moment. Are they likely feeling embarrassed, guilty or even humiliated? Probably. And if they are, they’ll typically avoid wanting to talk with you. Instead of letting them shut you out, simply email or better yet, call, and in a confident and compassionate tone of voice, tell them:
“I see that your payment didn’t go through and I’d like to talk with you about how we can get this taken care of.”
If you sound relaxed and confident they’ll feel reassured and you’re much more likely to create a positive outcome (hint: that means YOU getting paid!).
Tip #2 Know In Advance What Your Limits Are
When you discuss the situation with your client you’ll want to know in advance how far you’re willing to flex, how long you’re willing to wait and whether or not you’re willing to continue working with them until their payments are caught up.
At the beginning of your conversation, clearly indicate that you HAVE limits. Doing so will help you feel that you are standing in your power and are not helpless or a victim of someone else’s money drama.
For example, start your conversation by asking them what happened and what their plan is for correcting the situation. Suggest that they make a payment today, with you on the phone, even if it’s for a fraction of what they owe. At this delicate point, intention and consistency is more important than the actual dollar amount.
If your client is feeling like a victim of circumstances and isn’t able to make a commitment, then it’s time to let them know that while you understand they are in a tough spot, asking you to wait compromises your relationship and ability to create the results they want. Stand firm and ask them to creatively brainstorm ways they can create some ready cash. Trust me, if their LIFE depended on it, they would find the money!
Tip #3 Stand Strong — Your Client Is Looking To YOU As The Leader In This Situation
Always assume that this situation is temporary and that your client has every intention of paying. Usually this is the truth, and they just need a little support, a few extra days or some creative ways to get back on track. If you’re there as their advocate and collaborating together, their embarrassment will turn into relief and they’ll thank and appreciate you for your help and support. Just remember, THEIR payment dilemma is not YOURS to take on. By you standing in your power as leader, you’ll help your client stand in their power too, even when they initially didn’t feel they could.
While Client Payment Issues Aren’t Personal, They ARE An Opportunity For Personal Growth…
Experiencing the occasional client payment issue is a fact of doing business. If you’re experiencing this situation more than occasionally then it’s time to take a look at why you’re attracting these situations into your life. Whether they happen to you rarely or more frequently, each time is an opportunity for you to stand in your power — with compassion — and gracefully negotiate an outcome that’s a win-win for both of you.
Plan your business
Hi My Friends,
have you thought about what your
business is gonna look like at
the end of the year?
Do you have any plans on where you
are going with it?
Whatever it is, it is important to
for you to know which direction
you're heading towards - For if you do
not know where you are going, you
may not end up anywhere in your business.
Here's are some tips to get you started.
1. P = Pinpoint your destination.
Write up a plan of things that you
need to do and the timeline that you
need to complete it.
2. L = Leave Your Excuses Behind
There are FAR TOO MANY people all too
happy to provide a reason to why they
cannot do something. Why they cannot
make money.
Don't be one of them (there are plenty,
your spot is already taken.). Write down
all your “Yes” reasons and leave the
whining to the majority.
3. A = Activate Your Avenue
There are so many types of business
models. And you do not have to make
money the same way others do.
There are a lot of unanswered
questions and problems in different
niches.
If you can answer them clearly and
specifically, you'll be amazed at the
momentum you gain just by
solving other people's problem.
4. N = Navigate the Narrows
You need to have a narrow focus. Yet
you don't see a lot of people concentrating
solely on those things. They get caught
up in the latest fad.
What does it REALLY take to make money
online? 3 things : a. Traffic. b. List.
c. Conversions.
Just focus on this system and go simple
and you'll win big.
5. S = Success is NOT an Accident
Your success will be up to… You.
You will not wake up tomorrow with
money in your inbox without having
done something.
And that's a fact.
Others have done it. So, why not you?
have you thought about what your
business is gonna look like at
the end of the year?
Do you have any plans on where you
are going with it?
Whatever it is, it is important to
for you to know which direction
you're heading towards - For if you do
not know where you are going, you
may not end up anywhere in your business.
Here's are some tips to get you started.
1. P = Pinpoint your destination.
Write up a plan of things that you
need to do and the timeline that you
need to complete it.
2. L = Leave Your Excuses Behind
There are FAR TOO MANY people all too
happy to provide a reason to why they
cannot do something. Why they cannot
make money.
Don't be one of them (there are plenty,
your spot is already taken.). Write down
all your “Yes” reasons and leave the
whining to the majority.
3. A = Activate Your Avenue
There are so many types of business
models. And you do not have to make
money the same way others do.
There are a lot of unanswered
questions and problems in different
niches.
If you can answer them clearly and
specifically, you'll be amazed at the
momentum you gain just by
solving other people's problem.
4. N = Navigate the Narrows
You need to have a narrow focus. Yet
you don't see a lot of people concentrating
solely on those things. They get caught
up in the latest fad.
What does it REALLY take to make money
online? 3 things : a. Traffic. b. List.
c. Conversions.
Just focus on this system and go simple
and you'll win big.
5. S = Success is NOT an Accident
Your success will be up to… You.
You will not wake up tomorrow with
money in your inbox without having
done something.
And that's a fact.
Others have done it. So, why not you?
Reasons Why People Will Buy From You Over Your Competitors
Reasons Why People Will Buy From You Over Your Competitors
6 Reasons Your Prospects Will Choose to Become Your Customers
1. Their experiences with you. Your prospects will judge your worthiness based on how you make them feel. This includes how well you communicate, your content “depth,” your website’s quality and much more. Your prospects will also be more likely to engage in “conversations” with you when you allow them to interact in ways they prefer (i.e some may resonate with a blog post while others are more engaged by video or audio content). And always remember you are marketing to people first so build the human bond by remembering personal details and listening carefully.
2. Your product or service benefits. There are two basic reasons why people purchase anything – to increase pleasure (e.g. glowing health, freedom, popularity) or decrease pain (e.g. stress, financial problems, poor health). Therefore, focus on your product or service’s most compelling benefits as you communicate with your target audience – then, make sure you deliver on your promises. Be specific.
3. Your trustworthiness and reputation. Protect your good name and do everything in your power to ensure that your customers, prospects, friends, employees, and colleagues view you as a person of value. Keep in mind that your credibility, plausibility, and truthfulness will also win you far more customers than exaggerated claims and over-the-top promises.
4. The value they receive. Although most consumers are price-conscious, the vast majority do not consider price alone when making their buying decisions. Rather, they consider value: the difference between what something costs and its worth to the buyer. What does value look like in the social media world? Answer: great content, expert advice and personal connections.
5. Make transactions easy, safe, and secure. People are more likely to hand over their money when they perceive the risk as minimal. It’s best to reassure potential customers with robust guarantees, a solid privacy policy, and secure payment procedures.
6. How well you articulate their most pressing concerns. To market effectively you must get into your prospects’ heads. Listen carefully (and social media forums and blogs make this very easy) to your target audiences’ expressed opinions and feelings – particularly as they relate to your products or services – and be sure to address them directly. Research the marketplace to discover new trends and golden opportunities that you can leverage to benefit your business.
Most importantly – especially in the social media marketing environment – remember that the superior online and offline marketing happens when entrepreneurs are willing to put themselves out there and build genuine human connections. Social media marketing is not about quantity; it’s about quality. It is not just about long lists of “followers.” Rather, it begins with a sincere desire to grow and nourish genuine relationships and doing whatever it takes to ensure they happen. If you do this, the money will follow.
6 Reasons Your Prospects Will Choose to Become Your Customers
1. Their experiences with you. Your prospects will judge your worthiness based on how you make them feel. This includes how well you communicate, your content “depth,” your website’s quality and much more. Your prospects will also be more likely to engage in “conversations” with you when you allow them to interact in ways they prefer (i.e some may resonate with a blog post while others are more engaged by video or audio content). And always remember you are marketing to people first so build the human bond by remembering personal details and listening carefully.
2. Your product or service benefits. There are two basic reasons why people purchase anything – to increase pleasure (e.g. glowing health, freedom, popularity) or decrease pain (e.g. stress, financial problems, poor health). Therefore, focus on your product or service’s most compelling benefits as you communicate with your target audience – then, make sure you deliver on your promises. Be specific.
3. Your trustworthiness and reputation. Protect your good name and do everything in your power to ensure that your customers, prospects, friends, employees, and colleagues view you as a person of value. Keep in mind that your credibility, plausibility, and truthfulness will also win you far more customers than exaggerated claims and over-the-top promises.
4. The value they receive. Although most consumers are price-conscious, the vast majority do not consider price alone when making their buying decisions. Rather, they consider value: the difference between what something costs and its worth to the buyer. What does value look like in the social media world? Answer: great content, expert advice and personal connections.
5. Make transactions easy, safe, and secure. People are more likely to hand over their money when they perceive the risk as minimal. It’s best to reassure potential customers with robust guarantees, a solid privacy policy, and secure payment procedures.
6. How well you articulate their most pressing concerns. To market effectively you must get into your prospects’ heads. Listen carefully (and social media forums and blogs make this very easy) to your target audiences’ expressed opinions and feelings – particularly as they relate to your products or services – and be sure to address them directly. Research the marketplace to discover new trends and golden opportunities that you can leverage to benefit your business.
Most importantly – especially in the social media marketing environment – remember that the superior online and offline marketing happens when entrepreneurs are willing to put themselves out there and build genuine human connections. Social media marketing is not about quantity; it’s about quality. It is not just about long lists of “followers.” Rather, it begins with a sincere desire to grow and nourish genuine relationships and doing whatever it takes to ensure they happen. If you do this, the money will follow.
Turning Strangers Into True Friends and Fans
Turning Strangers Into True Friends and Fans
“You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you”. Dale Carnegie
Even though social media sites make it much easier to develop connections – a cornerstone principle for all sound marketing systems – cyberspace “followers” are not the same as cyberspace “friends.”
If your ultimate goal is to use social media marketing sites to grow your business, then it’s imperative that you turn followers into real friends – and that requires a genuine connection.
No matter how tempting it is, don’t do the opposite and mistake illusion for reality. Go the extra mile and do what’s necessary to strengthen, not weaken, the “human bond.”
How Do You Turn Strangers Into True Friends and Fans?
First realize this is not an event but a committed process of building relationships and rapport with your targeted audience… one which helps them to know, like and trust you. When done correctly, it provides the opportunity for online business owners to achieve their ultimate objective of acquiring and retaining loyal and profitable customers.
For some of you, the conversion “journey” will be a straight and speedy highway directly to a sale … but the vast majority must be prepared to take a slower, more methodical route.
In order to achieve this, you’ll need to create an online environment that makes your audience feel welcomed in a warm and sincere way and makes it easy to take action.
It’s similar to inviting people to your homes. I’m sure that most of you greet your guests at the door with a broad smile, handshake or hug; offer them something to drink or eat; suggest they sit in the most comfortable chair; etc.
You don’t bombard them with stories about how great you are; ask them to lend you money or borrow their car or leave them on their own to wander aimlessly around your house. This may seem like a far-fetched illustration, but hopefully, you get the idea.
Here are just some of the ways you can transform your followers into genuine friends…
• Acknowledge personal details – “ping” them on their birthdays, ask about their families and share stories about your own, offer to help them with a personal problem, etc.
• Discover the topics your followers are passionate about and mention or discuss them in your online conversations
• Provide them with warm introductions to likeminded friends and colleagues
• “Re-tweet” their “tweets” (when appropriate)
• Comment on their Facebook status
• Mention them in your blog posts and link back to their sites.
Once again, social media marketers who have with the right mindset, recognize that it’s not about numbers – it’s about people. And if you help enough of them get what they want, you’ll get what you want as well.
And remember that once you start developing your list of true fans, treat them like gold as they will not only continue to buy from you but will refer others as well.
“You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you”. Dale Carnegie
Even though social media sites make it much easier to develop connections – a cornerstone principle for all sound marketing systems – cyberspace “followers” are not the same as cyberspace “friends.”
If your ultimate goal is to use social media marketing sites to grow your business, then it’s imperative that you turn followers into real friends – and that requires a genuine connection.
No matter how tempting it is, don’t do the opposite and mistake illusion for reality. Go the extra mile and do what’s necessary to strengthen, not weaken, the “human bond.”
How Do You Turn Strangers Into True Friends and Fans?
First realize this is not an event but a committed process of building relationships and rapport with your targeted audience… one which helps them to know, like and trust you. When done correctly, it provides the opportunity for online business owners to achieve their ultimate objective of acquiring and retaining loyal and profitable customers.
For some of you, the conversion “journey” will be a straight and speedy highway directly to a sale … but the vast majority must be prepared to take a slower, more methodical route.
In order to achieve this, you’ll need to create an online environment that makes your audience feel welcomed in a warm and sincere way and makes it easy to take action.
It’s similar to inviting people to your homes. I’m sure that most of you greet your guests at the door with a broad smile, handshake or hug; offer them something to drink or eat; suggest they sit in the most comfortable chair; etc.
You don’t bombard them with stories about how great you are; ask them to lend you money or borrow their car or leave them on their own to wander aimlessly around your house. This may seem like a far-fetched illustration, but hopefully, you get the idea.
Here are just some of the ways you can transform your followers into genuine friends…
• Acknowledge personal details – “ping” them on their birthdays, ask about their families and share stories about your own, offer to help them with a personal problem, etc.
• Discover the topics your followers are passionate about and mention or discuss them in your online conversations
• Provide them with warm introductions to likeminded friends and colleagues
• “Re-tweet” their “tweets” (when appropriate)
• Comment on their Facebook status
• Mention them in your blog posts and link back to their sites.
Once again, social media marketers who have with the right mindset, recognize that it’s not about numbers – it’s about people. And if you help enough of them get what they want, you’ll get what you want as well.
And remember that once you start developing your list of true fans, treat them like gold as they will not only continue to buy from you but will refer others as well.
7 Simple Productivity Tools
Here are 7 simple but effective productivity tools that can help
you save time and get things done:
1) Your Planner
Of all your productivity tools, your planner is one of the most
important ones, because it's something that you'll use every day to
get things done.
Productivity often comes down to having a clear system to
capture, organize, prioritize, plan and take action on all the
projects, tasks and activities that you need to get done each day.
A good planner can make a big difference in your results, but
even a simple blank notebook can do wonders if you're used to
keeping everything in your head.
If you want a proven software planner for Windows that can help
you get organized and take control of your time, you'll want to
check out Achieve Planner:
2) Dry Erase Calendar
You may also find it helpful to buy a large dry erase calendar
and hang it in a prominent location in your home or office.
A wall in your office, the kitchen or a frequently-traveled
hallway are good locations.
On this calendar, you can mark down important activities and
commitments for all members of the family.
For example, you can record your kids' activities, your own
meetings, doctor and dentist appointments, special functions,
etc. You can plan a week ahead of time, or even a whole month at
a time.
After each event has passed, erase it so you have a clear,
at-a-glance view of the things coming up next.
3) A Password Manager
If you use a web browser and need to keep track of passwords for
different websites (who doesn't?), then a password manager can be a
BIG time saver.
In case you are not familiar with this kind of software, it's a
tool that helps you keep track of your online passwords so you
don't have to remember them off the top of your head or use silly
little passwords that are easy to crack.
The best password managers even auto-fill the login forms for
you so you don't even have to type the passwords yourself.
A very popular and well-known password manager is RoboForm:
4) Reminders and Alarms
Many of the email, planning and organization software programs
available today offer great little settings that can remind you of
important activities.
You can schedule everything from birthday and anniversary
reminders to notes of encouragement for yourself!
Or, you can use a reminder service. There are also reminder
services out there that are absolutely free to use. You simply sign
up for a free account, set the dates and activities you want to be
reminded about, and they will send an email notification on the
date and time you specify.
This is a handy tool worth using if you need help remembering
activities and special occasions.
One popular service is www.MemoToMe.com; or try an internet
search for "reminder service."
5) "Text Replacement" Utilities
This is another little productivity tool that can save you a lot
of time and effort. It works great for common email replies,
signatures, quotes and lots of other boilerplate text that you may
need to type.
I recommend that you check out, Direct Access which reduces time
consuming, repetitive tasks through the use of abbreviations for
text replacement and application launching.
6) Outsourcing Services
If your daily schedule is packed full of chores and obligations
that you can't seem to pare down or delegate, consider outsourcing
some of them to individuals or companies that can help.
For example, if you find that you spend a lot of time nagging
your spouse to do the yard work (or you're forced to do it yourself
and it poses a real drain on your time and energy), call a few
local landscaping companies and check out their rates.
Do the same for housecleaning services, dog walkers, grocery
delivery services, and more.
You might think these services are too expensive, but you'd be
surprised at how inexpensive they CAN be.
Of course, you're going to have to decide if the costs are worth
the extra time you get by using these services. It all depends on
your budget and time commitments.
You might also consider a 'virtual assistant' to help you with
errands and other computer-related busywork.
7) Organizational Tools
If you spend a lot of time hunting for things you need because
you're swimming in a sea of clutter, consider investing in a few
good organizational systems and tools.
Once again, this probably will involve some extra expense at
first, but the extra organization and peace of mind may well be
worth it.
All of these tools may seem overly simple, but don't be
fooled! They can go a long way toward helping you save time,
be more productive and balance your life activities.
you save time and get things done:
1) Your Planner
Of all your productivity tools, your planner is one of the most
important ones, because it's something that you'll use every day to
get things done.
Productivity often comes down to having a clear system to
capture, organize, prioritize, plan and take action on all the
projects, tasks and activities that you need to get done each day.
A good planner can make a big difference in your results, but
even a simple blank notebook can do wonders if you're used to
keeping everything in your head.
If you want a proven software planner for Windows that can help
you get organized and take control of your time, you'll want to
check out Achieve Planner:
2) Dry Erase Calendar
You may also find it helpful to buy a large dry erase calendar
and hang it in a prominent location in your home or office.
A wall in your office, the kitchen or a frequently-traveled
hallway are good locations.
On this calendar, you can mark down important activities and
commitments for all members of the family.
For example, you can record your kids' activities, your own
meetings, doctor and dentist appointments, special functions,
etc. You can plan a week ahead of time, or even a whole month at
a time.
After each event has passed, erase it so you have a clear,
at-a-glance view of the things coming up next.
3) A Password Manager
If you use a web browser and need to keep track of passwords for
different websites (who doesn't?), then a password manager can be a
BIG time saver.
In case you are not familiar with this kind of software, it's a
tool that helps you keep track of your online passwords so you
don't have to remember them off the top of your head or use silly
little passwords that are easy to crack.
The best password managers even auto-fill the login forms for
you so you don't even have to type the passwords yourself.
A very popular and well-known password manager is RoboForm:
4) Reminders and Alarms
Many of the email, planning and organization software programs
available today offer great little settings that can remind you of
important activities.
You can schedule everything from birthday and anniversary
reminders to notes of encouragement for yourself!
Or, you can use a reminder service. There are also reminder
services out there that are absolutely free to use. You simply sign
up for a free account, set the dates and activities you want to be
reminded about, and they will send an email notification on the
date and time you specify.
This is a handy tool worth using if you need help remembering
activities and special occasions.
One popular service is www.MemoToMe.com; or try an internet
search for "reminder service."
5) "Text Replacement" Utilities
This is another little productivity tool that can save you a lot
of time and effort. It works great for common email replies,
signatures, quotes and lots of other boilerplate text that you may
need to type.
I recommend that you check out, Direct Access which reduces time
consuming, repetitive tasks through the use of abbreviations for
text replacement and application launching.
6) Outsourcing Services
If your daily schedule is packed full of chores and obligations
that you can't seem to pare down or delegate, consider outsourcing
some of them to individuals or companies that can help.
For example, if you find that you spend a lot of time nagging
your spouse to do the yard work (or you're forced to do it yourself
and it poses a real drain on your time and energy), call a few
local landscaping companies and check out their rates.
Do the same for housecleaning services, dog walkers, grocery
delivery services, and more.
You might think these services are too expensive, but you'd be
surprised at how inexpensive they CAN be.
Of course, you're going to have to decide if the costs are worth
the extra time you get by using these services. It all depends on
your budget and time commitments.
You might also consider a 'virtual assistant' to help you with
errands and other computer-related busywork.
7) Organizational Tools
If you spend a lot of time hunting for things you need because
you're swimming in a sea of clutter, consider investing in a few
good organizational systems and tools.
Once again, this probably will involve some extra expense at
first, but the extra organization and peace of mind may well be
worth it.
All of these tools may seem overly simple, but don't be
fooled! They can go a long way toward helping you save time,
be more productive and balance your life activities.
The "Acid Test" of Listening
The "Acid Test" of Listening
Paraphrase Your Customer's Words
The customer is only sure that you have been listening when you paraphrase what the prospect has said and feed it back in your own words. This is where the rubber meets the road in effective listening. This is where you demonstrate in no uncertain terms to the prospect that your listening has been real and sincere. This is where you show the prospect that you were paying complete attention to what he or she was saying. Paraphrasing is how you prove it.
Question for Clarification
When the prospect has finished explaining his or her situation to you, and you have paused, and then questioned for clarification, you paraphrase the prospects primary thoughts and concerns, and feed them back to him or her in your own words.
Use the Right Words
For example, you might say, "Let me make sure I understand exactly what you are saying. It sounds to me like you are concerned about two things more than anything else, and that in the past you have had a couple of experiences that have made you very careful in approaching a decision of this kind."
Feed it Back Accurately
You then go on to feed back to the prospect exactly what he or she has told you, pausing and questioning for clarification as you go, until the customer says words to the effect of, "Yes, that's it! You've got it exactly."
Earn the Right to Sell
Only when you and the customer completed a thorough "examination" and have mutually agreed on the "diagnosis" you are in a position to begin talking to the customer about your product or service. In general terms, this means that you can not pull out your brochures and price lists and begin telling the customer how your product or service can solve his problems or achieve his goals until about seventy percent of the way through the sales conversation. Until then, you have not yet earned the right. Until then, you don't even know enough to begin an intelligent presentation without embarrassing yourself.
Be a Good Listener
The more and better you listen, the more and better people will like you, trust you and want to do business with you. The more they will want to get involved with you as a person and the more popular you will be with them. Excellent listeners are welcome everywhere, in every walk of life, and they eventually and ultimately arrive at the top of their fields.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, remember that your first job in the sale is to get the customer to like you and believe that you understand his situation. Paraphrasing is the way you accomplish this.
Second, be sure that the customer agrees with you completely when you feed back his concerns to him. Only then can you really start selling.
Paraphrase Your Customer's Words
The customer is only sure that you have been listening when you paraphrase what the prospect has said and feed it back in your own words. This is where the rubber meets the road in effective listening. This is where you demonstrate in no uncertain terms to the prospect that your listening has been real and sincere. This is where you show the prospect that you were paying complete attention to what he or she was saying. Paraphrasing is how you prove it.
Question for Clarification
When the prospect has finished explaining his or her situation to you, and you have paused, and then questioned for clarification, you paraphrase the prospects primary thoughts and concerns, and feed them back to him or her in your own words.
Use the Right Words
For example, you might say, "Let me make sure I understand exactly what you are saying. It sounds to me like you are concerned about two things more than anything else, and that in the past you have had a couple of experiences that have made you very careful in approaching a decision of this kind."
Feed it Back Accurately
You then go on to feed back to the prospect exactly what he or she has told you, pausing and questioning for clarification as you go, until the customer says words to the effect of, "Yes, that's it! You've got it exactly."
Earn the Right to Sell
Only when you and the customer completed a thorough "examination" and have mutually agreed on the "diagnosis" you are in a position to begin talking to the customer about your product or service. In general terms, this means that you can not pull out your brochures and price lists and begin telling the customer how your product or service can solve his problems or achieve his goals until about seventy percent of the way through the sales conversation. Until then, you have not yet earned the right. Until then, you don't even know enough to begin an intelligent presentation without embarrassing yourself.
Be a Good Listener
The more and better you listen, the more and better people will like you, trust you and want to do business with you. The more they will want to get involved with you as a person and the more popular you will be with them. Excellent listeners are welcome everywhere, in every walk of life, and they eventually and ultimately arrive at the top of their fields.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, remember that your first job in the sale is to get the customer to like you and believe that you understand his situation. Paraphrasing is the way you accomplish this.
Second, be sure that the customer agrees with you completely when you feed back his concerns to him. Only then can you really start selling.
Wednesday, May 19, 2010
The Three Ps of Marketing Operations
The Three Ps of Marketing Operations
Marketing performance measurement and management (MPM) remains among the top-three priorities for chief marketing officers and VPs of marketing, CEOs, COOs, and CFOs, according to the ninth annual MPM study from VisionEdge Marketing.
The findings reveal that Marketing as a function knows what it needs to do and has established mechanisms for MPM, but many organizations remain challenged by the lack of the following: systems and issues associated with data collection, key performance-management processes, well-defined metrics, and reporting systems.
Those challenges create a cascade effect that impedes Marketing from what it ought to do (effectiveness). So when Marketing instead focuses on what can be done, it may not be working on the things that would enable it to adequately contribute to the business, hence reducing marketing return on investment.
A solid MPM practice optimizes marketing activities, thereby making measurement more relevant and allocating marketing resources more appropriately.
One step that goes a long way toward enabling MPM is to operationalize Marketing. Creating a marketing-operations function ties analysis with performance management.
For Marketing to fully achieve MPM maturity—or even take it to the next level—the role of, and skills within, the marketing-operations function at a minimum needs to address three Ps: planning, process, and performance management.
Marketing Operations Defined
Adding dedicated resources to a marketing organization by creating a marketing-operations role is essential to improving effectiveness and efficiency. Marketing-operations personnel specialize in performance management, which includes data, analytics and measurement, financial management, strategic planning, marketing-resource management, and marketing-skills assessment and development.
As the role has evolved, it has come to encompass several responsibilities, including these:
1. Defining and managing systems and tools
2. Developing and implementing metrics, infrastructure, and business processes
3. Establishing and communicating best-practices
4. Managing the overall marketing budget and budgeting process
5. Identifying and deploying technology to support performance measurement and reporting
A marketing-operations function creates a competency center that is committed to supporting performance management.
It is the marketing-operations function that focuses on how Marketing should be supporting the business and developing and implementing the processes, systems, tools, and skills development necessary to link Marketing to business outcomes, track and report results, and suggest improvement.
Marketing operations builds the processes and manages the systems needed to implement MPM.
The State of Marketing Operations
Although many organizations recognize the importance of Marketing Operations, the 2010 annual MPM study found a decline in the number of people being assigned to the function.
For example, in the 2009 MPM study, 80% of respondents indicated a marketing-operations function consisting of a team or dedicated person. Only 66% of respondents in the 2010 study indicated that they had a marketing-operations function at all.
An additional 5% indicated they were creating a marketing-operations function. And a little more than one-third of respondents reported having no plans to create a separate marketing-operations role or seeing any need for the function.
The 2009 study found that the marketing-operations function was underused; that was a recurring theme in the 2010 study. A key takeaway: Marketing Operations is not being used to its full potential; it is not playing a broader, more strategic role by helping to examine and address how to best facilitate performance management.
The results from this year's study suggest that although improvements related to analytics have been made, efforts have concentrated more on budget management, market research, and data management than on performance measurement and management.
Moving forward, marketing organizations should build capabilities with their operational staff that better support MPM as a whole rather than simply focusing on analysis.
Getting Value From Marketing Operations
Research suggests that linking marketing objectives, programs, activities, and results to the business and creating and executing consistently on MPM practices remain challenges for most marketing organizations. That is to be expected, considering where most marketing organizations are with regard to their maturity in employing MPM.
Even though Marketing has improved its ability to manage metrics, its ability to manage performance remains elusive:
• Less than 15% of respondents now rate Marketing as being completely effective, compared with 30% in 2009.
• Most respondents (78%) indicated that they are only somewhat or marginally effective.
• The ineffective proportion increased slightly, from 8% in 2009 to just more than 10% in 2010.
That decline indicates that any gains in communicating value to the business that Marketing has been able to make are at risk.
A primary reason Marketing is not as effective and efficient as it could be is the lack of adequate metrics, which would improve marketing performance. Many executives and marketing professionals remain dissatisfied with data analytics, measurement, and process skills within the marketing discipline.
Why? Because, for many organizations, Marketing still lacks the systems, practices, and capabilities to measure what matters.
In 2009, 19% of marketers indicated that Marketing doesn't leverage MPM best-practices. Less than one-fifth of respondents were satisfied with their MPM practices.
In general, study participants are not satisfied with Marketing's processes and ability to set performance targets, develop metrics, and measure—the areas where a marketing-operations function can make a difference.
Putting the Three Ps Into Practice
The following three Ps—process, performance management, and planning—provide a foundation on which to build a marketing-operations function.
1. Process
The American Marketing Association defines marketing as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large." Key to the definition is the reference to a set of processes.
A performance-driven marketing organization needs 10 essential processes:
1. Market intelligence and customer insight
2. Planning
3. Budgeting
4. Market asset development and management
5. Performance measurement, management, and reporting
6. Metrics and performance target-setting and benchmarking
7. Auditing
8. Data management and collection
9. Professional-development processes
10. Infrastructure management
The best-in-class marketing-operations functions should focus on developing, managing, and optimizing those processes to enable the marketing organization to improve performance.
2. Performance management
MPM is the process of analyzing and improving both the efficiency and effectiveness of marketing through a framework of metrics that monitors Marketing's contribution to business goals.
Although it is the responsibility of every marketing professional to engage in performance management, Marketing Operations plays a pivotal role.
It is the marketing-operations function that governs the process and provides the data, analysis, systems, and tools that enable Marketing to link its initiatives to the business and then monitor and report on performance through a marketing dashboard.
Properly developed and deployed dashboards give the performance-driven marketing organization an advantage over competitors that are still operating with little or no essential data, analytics, or performance standards.
3. Planning
The point of any marketing plan is to identify the initiatives, strategies, tactics, and activities that the marketing organization will deploy to help the organization succeed.
Therefore, a key part of the marketing planning process is to have a clear road map to demonstrate how Marketing is moving the needle for the organization. That requires clearly linking Marketing's objectives, strategies, programs, and tactics back to business outcomes.
Doing so requires the marketing-operations function to interface with the organization's finance, sales, service, product, and management players; that interaction is vital to capturing the business outcomes, clarifying which ones Marketing is expected to influence, and defining the corresponding key performance indicators (KPIs).
* * *
Marketing organizations that have dedicated resources for the marketing-operations function ensure that the rest of the marketing organization adopts and implements performance-management best-practices to positively affect their organization's business outcomes.
They enable Marketing to become a performance-driven team and provide the processes, performance management, and planning skills, tools, and systems that empower Marketing to demonstrate value and be more effective and efficient.
By creating or expanding the marketing-operations role and skill set to include performance-targeting skills, process and technology optimization, and strategic capabilities to drive change, Marketing can reach the next step in its performance-management journey.
The bottom line: Marketing Operations facilitates a much better return on marketing investments.
Marketing performance measurement and management (MPM) remains among the top-three priorities for chief marketing officers and VPs of marketing, CEOs, COOs, and CFOs, according to the ninth annual MPM study from VisionEdge Marketing.
The findings reveal that Marketing as a function knows what it needs to do and has established mechanisms for MPM, but many organizations remain challenged by the lack of the following: systems and issues associated with data collection, key performance-management processes, well-defined metrics, and reporting systems.
Those challenges create a cascade effect that impedes Marketing from what it ought to do (effectiveness). So when Marketing instead focuses on what can be done, it may not be working on the things that would enable it to adequately contribute to the business, hence reducing marketing return on investment.
A solid MPM practice optimizes marketing activities, thereby making measurement more relevant and allocating marketing resources more appropriately.
One step that goes a long way toward enabling MPM is to operationalize Marketing. Creating a marketing-operations function ties analysis with performance management.
For Marketing to fully achieve MPM maturity—or even take it to the next level—the role of, and skills within, the marketing-operations function at a minimum needs to address three Ps: planning, process, and performance management.
Marketing Operations Defined
Adding dedicated resources to a marketing organization by creating a marketing-operations role is essential to improving effectiveness and efficiency. Marketing-operations personnel specialize in performance management, which includes data, analytics and measurement, financial management, strategic planning, marketing-resource management, and marketing-skills assessment and development.
As the role has evolved, it has come to encompass several responsibilities, including these:
1. Defining and managing systems and tools
2. Developing and implementing metrics, infrastructure, and business processes
3. Establishing and communicating best-practices
4. Managing the overall marketing budget and budgeting process
5. Identifying and deploying technology to support performance measurement and reporting
A marketing-operations function creates a competency center that is committed to supporting performance management.
It is the marketing-operations function that focuses on how Marketing should be supporting the business and developing and implementing the processes, systems, tools, and skills development necessary to link Marketing to business outcomes, track and report results, and suggest improvement.
Marketing operations builds the processes and manages the systems needed to implement MPM.
The State of Marketing Operations
Although many organizations recognize the importance of Marketing Operations, the 2010 annual MPM study found a decline in the number of people being assigned to the function.
For example, in the 2009 MPM study, 80% of respondents indicated a marketing-operations function consisting of a team or dedicated person. Only 66% of respondents in the 2010 study indicated that they had a marketing-operations function at all.
An additional 5% indicated they were creating a marketing-operations function. And a little more than one-third of respondents reported having no plans to create a separate marketing-operations role or seeing any need for the function.
The 2009 study found that the marketing-operations function was underused; that was a recurring theme in the 2010 study. A key takeaway: Marketing Operations is not being used to its full potential; it is not playing a broader, more strategic role by helping to examine and address how to best facilitate performance management.
The results from this year's study suggest that although improvements related to analytics have been made, efforts have concentrated more on budget management, market research, and data management than on performance measurement and management.
Moving forward, marketing organizations should build capabilities with their operational staff that better support MPM as a whole rather than simply focusing on analysis.
Getting Value From Marketing Operations
Research suggests that linking marketing objectives, programs, activities, and results to the business and creating and executing consistently on MPM practices remain challenges for most marketing organizations. That is to be expected, considering where most marketing organizations are with regard to their maturity in employing MPM.
Even though Marketing has improved its ability to manage metrics, its ability to manage performance remains elusive:
• Less than 15% of respondents now rate Marketing as being completely effective, compared with 30% in 2009.
• Most respondents (78%) indicated that they are only somewhat or marginally effective.
• The ineffective proportion increased slightly, from 8% in 2009 to just more than 10% in 2010.
That decline indicates that any gains in communicating value to the business that Marketing has been able to make are at risk.
A primary reason Marketing is not as effective and efficient as it could be is the lack of adequate metrics, which would improve marketing performance. Many executives and marketing professionals remain dissatisfied with data analytics, measurement, and process skills within the marketing discipline.
Why? Because, for many organizations, Marketing still lacks the systems, practices, and capabilities to measure what matters.
In 2009, 19% of marketers indicated that Marketing doesn't leverage MPM best-practices. Less than one-fifth of respondents were satisfied with their MPM practices.
In general, study participants are not satisfied with Marketing's processes and ability to set performance targets, develop metrics, and measure—the areas where a marketing-operations function can make a difference.
Putting the Three Ps Into Practice
The following three Ps—process, performance management, and planning—provide a foundation on which to build a marketing-operations function.
1. Process
The American Marketing Association defines marketing as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large." Key to the definition is the reference to a set of processes.
A performance-driven marketing organization needs 10 essential processes:
1. Market intelligence and customer insight
2. Planning
3. Budgeting
4. Market asset development and management
5. Performance measurement, management, and reporting
6. Metrics and performance target-setting and benchmarking
7. Auditing
8. Data management and collection
9. Professional-development processes
10. Infrastructure management
The best-in-class marketing-operations functions should focus on developing, managing, and optimizing those processes to enable the marketing organization to improve performance.
2. Performance management
MPM is the process of analyzing and improving both the efficiency and effectiveness of marketing through a framework of metrics that monitors Marketing's contribution to business goals.
Although it is the responsibility of every marketing professional to engage in performance management, Marketing Operations plays a pivotal role.
It is the marketing-operations function that governs the process and provides the data, analysis, systems, and tools that enable Marketing to link its initiatives to the business and then monitor and report on performance through a marketing dashboard.
Properly developed and deployed dashboards give the performance-driven marketing organization an advantage over competitors that are still operating with little or no essential data, analytics, or performance standards.
3. Planning
The point of any marketing plan is to identify the initiatives, strategies, tactics, and activities that the marketing organization will deploy to help the organization succeed.
Therefore, a key part of the marketing planning process is to have a clear road map to demonstrate how Marketing is moving the needle for the organization. That requires clearly linking Marketing's objectives, strategies, programs, and tactics back to business outcomes.
Doing so requires the marketing-operations function to interface with the organization's finance, sales, service, product, and management players; that interaction is vital to capturing the business outcomes, clarifying which ones Marketing is expected to influence, and defining the corresponding key performance indicators (KPIs).
* * *
Marketing organizations that have dedicated resources for the marketing-operations function ensure that the rest of the marketing organization adopts and implements performance-management best-practices to positively affect their organization's business outcomes.
They enable Marketing to become a performance-driven team and provide the processes, performance management, and planning skills, tools, and systems that empower Marketing to demonstrate value and be more effective and efficient.
By creating or expanding the marketing-operations role and skill set to include performance-targeting skills, process and technology optimization, and strategic capabilities to drive change, Marketing can reach the next step in its performance-management journey.
The bottom line: Marketing Operations facilitates a much better return on marketing investments.
Tuesday, May 18, 2010
7 Time-Saving Productivity Tools
Here are 7 simple but effective productivity tools that can help
you save time and get things done:
1) Your Planner
Of all your productivity tools, your planner is one of the most
important ones, because it's something that you'll use every day to
get things done.
Productivity often comes down to having a clear system to
capture, organize, prioritize, plan and take action on all the
projects, tasks and activities that you need to get done each day.
A good planner can make a big difference in your results, but
even a simple blank notebook can do wonders if you're used to
keeping everything in your head.
If you want a proven software planner for Windows that can help
you get organized and take control of your time, you'll want to
check out Achieve Planner:
2) Dry Erase Calendar
You may also find it helpful to buy a large dry erase calendar
and hang it in a prominent location in your home or office.
A wall in your office, the kitchen or a frequently-traveled
hallway are good locations.
On this calendar, you can mark down important activities and
commitments for all members of the family.
For example, you can record your kids' activities, your own
meetings, doctor and dentist appointments, special functions,
etc. You can plan a week ahead of time, or even a whole month at
a time.
After each event has passed, erase it so you have a clear,
at-a-glance view of the things coming up next.
3) A Password Manager
If you use a web browser and need to keep track of passwords for
different websites (who doesn't?), then a password manager can be a
BIG time saver.
In case you are not familiar with this kind of software, it's a
tool that helps you keep track of your online passwords so you
don't have to remember them off the top of your head or use silly
little passwords that are easy to crack.
The best password managers even auto-fill the login forms for
you so you don't even have to type the passwords yourself.
A very popular and well-known password manager is RoboForm:
4) Reminders and Alarms
Many of the email, planning and organization software programs
available today offer great little settings that can remind you of
important activities.
You can schedule everything from birthday and anniversary
reminders to notes of encouragement for yourself!
Or, you can use a reminder service. There are also reminder
services out there that are absolutely free to use. You simply sign
up for a free account, set the dates and activities you want to be
reminded about, and they will send an email notification on the
date and time you specify.
This is a handy tool worth using if you need help remembering
activities and special occasions.
One popular service is www.MemoToMe.com; or try an internet
search for "reminder service."
5) "Text Replacement" Utilities
This is another little productivity tool that can save you a lot
of time and effort. It works great for common email replies,
signatures, quotes and lots of other boilerplate text that you may
need to type.
I recommend that you check out, Direct Access which reduces time
consuming, repetitive tasks through the use of abbreviations for
text replacement and application launching.
6) Outsourcing Services
If your daily schedule is packed full of chores and obligations
that you can't seem to pare down or delegate, consider outsourcing
some of them to individuals or companies that can help.
For example, if you find that you spend a lot of time nagging
your spouse to do the yard work (or you're forced to do it yourself
and it poses a real drain on your time and energy), call a few
local landscaping companies and check out their rates.
Do the same for housecleaning services, dog walkers, grocery
delivery services, and more.
You might think these services are too expensive, but you'd be
surprised at how inexpensive they CAN be.
Of course, you're going to have to decide if the costs are worth
the extra time you get by using these services. It all depends on
your budget and time commitments.
You might also consider a 'virtual assistant' to help you with
errands and other computer-related busywork.
7) Organizational Tools
If you spend a lot of time hunting for things you need because
you're swimming in a sea of clutter, consider investing in a few
good organizational systems and tools.
Once again, this probably will involve some extra expense at
first, but the extra organization and peace of mind may well be
worth it.
All of these tools may seem overly simple, but don't be
fooled! They can go a long way toward helping you save time,
be more productive and balance your life activities.
you save time and get things done:
1) Your Planner
Of all your productivity tools, your planner is one of the most
important ones, because it's something that you'll use every day to
get things done.
Productivity often comes down to having a clear system to
capture, organize, prioritize, plan and take action on all the
projects, tasks and activities that you need to get done each day.
A good planner can make a big difference in your results, but
even a simple blank notebook can do wonders if you're used to
keeping everything in your head.
If you want a proven software planner for Windows that can help
you get organized and take control of your time, you'll want to
check out Achieve Planner:
2) Dry Erase Calendar
You may also find it helpful to buy a large dry erase calendar
and hang it in a prominent location in your home or office.
A wall in your office, the kitchen or a frequently-traveled
hallway are good locations.
On this calendar, you can mark down important activities and
commitments for all members of the family.
For example, you can record your kids' activities, your own
meetings, doctor and dentist appointments, special functions,
etc. You can plan a week ahead of time, or even a whole month at
a time.
After each event has passed, erase it so you have a clear,
at-a-glance view of the things coming up next.
3) A Password Manager
If you use a web browser and need to keep track of passwords for
different websites (who doesn't?), then a password manager can be a
BIG time saver.
In case you are not familiar with this kind of software, it's a
tool that helps you keep track of your online passwords so you
don't have to remember them off the top of your head or use silly
little passwords that are easy to crack.
The best password managers even auto-fill the login forms for
you so you don't even have to type the passwords yourself.
A very popular and well-known password manager is RoboForm:
4) Reminders and Alarms
Many of the email, planning and organization software programs
available today offer great little settings that can remind you of
important activities.
You can schedule everything from birthday and anniversary
reminders to notes of encouragement for yourself!
Or, you can use a reminder service. There are also reminder
services out there that are absolutely free to use. You simply sign
up for a free account, set the dates and activities you want to be
reminded about, and they will send an email notification on the
date and time you specify.
This is a handy tool worth using if you need help remembering
activities and special occasions.
One popular service is www.MemoToMe.com; or try an internet
search for "reminder service."
5) "Text Replacement" Utilities
This is another little productivity tool that can save you a lot
of time and effort. It works great for common email replies,
signatures, quotes and lots of other boilerplate text that you may
need to type.
I recommend that you check out, Direct Access which reduces time
consuming, repetitive tasks through the use of abbreviations for
text replacement and application launching.
6) Outsourcing Services
If your daily schedule is packed full of chores and obligations
that you can't seem to pare down or delegate, consider outsourcing
some of them to individuals or companies that can help.
For example, if you find that you spend a lot of time nagging
your spouse to do the yard work (or you're forced to do it yourself
and it poses a real drain on your time and energy), call a few
local landscaping companies and check out their rates.
Do the same for housecleaning services, dog walkers, grocery
delivery services, and more.
You might think these services are too expensive, but you'd be
surprised at how inexpensive they CAN be.
Of course, you're going to have to decide if the costs are worth
the extra time you get by using these services. It all depends on
your budget and time commitments.
You might also consider a 'virtual assistant' to help you with
errands and other computer-related busywork.
7) Organizational Tools
If you spend a lot of time hunting for things you need because
you're swimming in a sea of clutter, consider investing in a few
good organizational systems and tools.
Once again, this probably will involve some extra expense at
first, but the extra organization and peace of mind may well be
worth it.
All of these tools may seem overly simple, but don't be
fooled! They can go a long way toward helping you save time,
be more productive and balance your life activities.
Sunday, May 16, 2010
The Principle of the Objective
The Principle of the Objective
Learn from the Lessons of History
The concepts of military strategy have been studied and written about for more than 4,000 years, going back to the early works of General Sun-Tzu in China more than 2,000 years BC. These principles of strategy that have been developed and perfected over the centuries have direct applications and implications for strategic thinking, both personally and corporately.
Decide In Advance What You Want
The most important military principle is the Principle of the Objective. This principle requires that you decide in advance exactly what it is that you are trying to accomplish. What exactly is your objective? In my experience, fully 80% of all problems in personal and corporate life come from a lack of clarity with regard to objectives and goals.
Clarity Is Critical
Clarity of objective precedes all other elements in strategic thinking. Here are some questions that you can use over and over again to focus and clarify your objectives. The first question is, "What am I trying to do?" The second question is, "How am I trying to do it?" The third question is, "What are my assumptions?" And the fourth question is, "What if my assumptions were wrong?"
Question Your Assumptions
Having the courage to ask these questions, and to question your assumptions, both spoken and unspoken, is a key mark of the superior person. Sometimes individuals avoid questioning their assumptions for fear that they will have to change their minds or do something other than what they started out to do. However, false assumptions lie at the root of almost every failure. The only way that you can root out these wrong assumptions is by carefully analyzing them and discussing them, and then by demanding proof or evidence that these assumptions are still valid.
Project Forward In Your Mind
Another method for clarifying your objectives is for you to project forward and look backward. In other words, imagine that you have already achieved the objective that you are working toward. Project yourself forward in your mind and then look back to the present day, to the present moment. What do you see? What changes could you make looking back from this imaginary perspective of hindsight? This is a key peak performance thinking technique.
Determine Why You Want It
The final part of clarifying your objectives revolves around your identifying the reasons why you want to achieve this objective in the first place. Why is it important? Is it still as important as when you started off? Is this objective more important than any other objective that you could be working on? It is essential that you be clear about the answers to these questions.
Action Exercises
Here are two things you can do immediately to apply the principle of the objective to your personal and business life:
First, take out a piece of paper and answer the question: "What am I trying to do?" What are your goals? What are your objectives? Why are you doing what you are doing in the first place? Is this the very best use of your time and energy?
Second, question your assumptions. What things are you assuming are true about yourself, the people around you and the situation? What if one of these assumptions turned out to be false? What changes would you have to make if you found that your most cherished assumptions were not based on reality, or were contradicted by facts?
Learn from the Lessons of History
The concepts of military strategy have been studied and written about for more than 4,000 years, going back to the early works of General Sun-Tzu in China more than 2,000 years BC. These principles of strategy that have been developed and perfected over the centuries have direct applications and implications for strategic thinking, both personally and corporately.
Decide In Advance What You Want
The most important military principle is the Principle of the Objective. This principle requires that you decide in advance exactly what it is that you are trying to accomplish. What exactly is your objective? In my experience, fully 80% of all problems in personal and corporate life come from a lack of clarity with regard to objectives and goals.
Clarity Is Critical
Clarity of objective precedes all other elements in strategic thinking. Here are some questions that you can use over and over again to focus and clarify your objectives. The first question is, "What am I trying to do?" The second question is, "How am I trying to do it?" The third question is, "What are my assumptions?" And the fourth question is, "What if my assumptions were wrong?"
Question Your Assumptions
Having the courage to ask these questions, and to question your assumptions, both spoken and unspoken, is a key mark of the superior person. Sometimes individuals avoid questioning their assumptions for fear that they will have to change their minds or do something other than what they started out to do. However, false assumptions lie at the root of almost every failure. The only way that you can root out these wrong assumptions is by carefully analyzing them and discussing them, and then by demanding proof or evidence that these assumptions are still valid.
Project Forward In Your Mind
Another method for clarifying your objectives is for you to project forward and look backward. In other words, imagine that you have already achieved the objective that you are working toward. Project yourself forward in your mind and then look back to the present day, to the present moment. What do you see? What changes could you make looking back from this imaginary perspective of hindsight? This is a key peak performance thinking technique.
Determine Why You Want It
The final part of clarifying your objectives revolves around your identifying the reasons why you want to achieve this objective in the first place. Why is it important? Is it still as important as when you started off? Is this objective more important than any other objective that you could be working on? It is essential that you be clear about the answers to these questions.
Action Exercises
Here are two things you can do immediately to apply the principle of the objective to your personal and business life:
First, take out a piece of paper and answer the question: "What am I trying to do?" What are your goals? What are your objectives? Why are you doing what you are doing in the first place? Is this the very best use of your time and energy?
Second, question your assumptions. What things are you assuming are true about yourself, the people around you and the situation? What if one of these assumptions turned out to be false? What changes would you have to make if you found that your most cherished assumptions were not based on reality, or were contradicted by facts?
Saturday, May 15, 2010
Product Creation: Avoid this 5 mistakes to increase information product sales.
Have you ever created an information product- say a home study or membership program, an e-book or online workshop that didn’t sell? I have. Are you surprised?
You see when I first decided to add information products to my business years ago I made the same rookie mistakes I see many small and solo business owners making today. Yet abandoning the idea was not an option since creating information products is still the best way to sell your knowledge and expertise to a large audience and create multiple streams of income that don’t involve selling your time at an hourly rate.
I learned from my mistakes and with the help of some awesome mentors I ended up creating multiple home study and membership programs that are highly successful. And I’ve helped many clients do the same. So I’d like to share the mistakes you need to avoid if you don’t want to struggle like I did years ago.
Mistake #1: Deciding what people want without knowing what they want.
So many people have a wonderful idea and immediately get to work creating an information product based on that idea. They decide it’s what people need. The problem is that clients buy what they want, not what they need. Sometimes they don’t even know what they need. To discover what they really want a little simple keyword and competitor research can go a long way and save you a ton of time, frustration and lost sales.
Mistake #2: No proven marketing system
Even if you have the best home study course or e-book ever written, if no one knows about it you’ll have no sales and nothing could be more discouraging after all the hard work you put in.
You need to have all of your marketing materials written, your e-mail marketing and affiliate programs in place, and your traffic generation system automated as much as possible before you start selling. Once I developed these systems, selling my products became so much easier and regularly produces a steady stream of leads and sales.
Mistake #3 Not having a sales page that converts buyers
Imagine that you’ve finally finished your product, you’ve got your marketing system in place and you can see that you’re getting people to your sales page—but only a few are buying. Writing curiosity-building or benefit-laden headlines and powerful content that includes clear results buyers can expect from your product, legitimate testimonials and an ironclad guarantee will go a long way toward improving your sales conversion. Including video will make a big difference because you can show visitors how and why you’re passionate about your product.
Mistake #4 Not giving more value than the price implies
People tend to buy online when they really want a solution to a problem and they see your product as that solution. By adding more components to your product, such as worksheets, audios, videos or checklists and by adding bonuses the perceived value goes beyond the price you’re charging. And of course your price has to be right in terms of what the buyer perceives the value to be. If the price is perceived as too high you won’t get many sales. If it’s too low, your product may be perceived as inferior. Do some research to find the pricing on similar products to give you a benchmark.
Mistake #5 Not even starting because you’re afraid it’s too hard
You can create an information product in anywhere from one week to 60 days, tops. And it can produce ongoing sales for months or years. Plus it can build your expert status and be the foundation for other programs. In other words you can leverage the content you create and use it in other types of programs and services. So not creating one actually ends up being harder because it keeps you stuck selling your time hour by hour and it keeps you at survival level.
You see when I first decided to add information products to my business years ago I made the same rookie mistakes I see many small and solo business owners making today. Yet abandoning the idea was not an option since creating information products is still the best way to sell your knowledge and expertise to a large audience and create multiple streams of income that don’t involve selling your time at an hourly rate.
I learned from my mistakes and with the help of some awesome mentors I ended up creating multiple home study and membership programs that are highly successful. And I’ve helped many clients do the same. So I’d like to share the mistakes you need to avoid if you don’t want to struggle like I did years ago.
Mistake #1: Deciding what people want without knowing what they want.
So many people have a wonderful idea and immediately get to work creating an information product based on that idea. They decide it’s what people need. The problem is that clients buy what they want, not what they need. Sometimes they don’t even know what they need. To discover what they really want a little simple keyword and competitor research can go a long way and save you a ton of time, frustration and lost sales.
Mistake #2: No proven marketing system
Even if you have the best home study course or e-book ever written, if no one knows about it you’ll have no sales and nothing could be more discouraging after all the hard work you put in.
You need to have all of your marketing materials written, your e-mail marketing and affiliate programs in place, and your traffic generation system automated as much as possible before you start selling. Once I developed these systems, selling my products became so much easier and regularly produces a steady stream of leads and sales.
Mistake #3 Not having a sales page that converts buyers
Imagine that you’ve finally finished your product, you’ve got your marketing system in place and you can see that you’re getting people to your sales page—but only a few are buying. Writing curiosity-building or benefit-laden headlines and powerful content that includes clear results buyers can expect from your product, legitimate testimonials and an ironclad guarantee will go a long way toward improving your sales conversion. Including video will make a big difference because you can show visitors how and why you’re passionate about your product.
Mistake #4 Not giving more value than the price implies
People tend to buy online when they really want a solution to a problem and they see your product as that solution. By adding more components to your product, such as worksheets, audios, videos or checklists and by adding bonuses the perceived value goes beyond the price you’re charging. And of course your price has to be right in terms of what the buyer perceives the value to be. If the price is perceived as too high you won’t get many sales. If it’s too low, your product may be perceived as inferior. Do some research to find the pricing on similar products to give you a benchmark.
Mistake #5 Not even starting because you’re afraid it’s too hard
You can create an information product in anywhere from one week to 60 days, tops. And it can produce ongoing sales for months or years. Plus it can build your expert status and be the foundation for other programs. In other words you can leverage the content you create and use it in other types of programs and services. So not creating one actually ends up being harder because it keeps you stuck selling your time hour by hour and it keeps you at survival level.
Sunday, May 9, 2010
Are You Truly Excited About What You Sell
Are You Truly Excited About What You Sell
We all know that sales are really all about "Closing The Sale". There is not a salesperson alive who does not use a variety of techniques to help them be successful with customers. However, I believe passion is the most underrated and underutilised sales tool in our arsenal because it is too hard to measure and no one has found an effective way to teach it.
Passion is an effective sales tool because it isn't artificial and can't be faked for a long period of time. It is displayed in people who genuinely care and are willing to take the time to serve their clients in whatever manner is necessary.
Passion in sales is evident when the coach takes the time to listen to their prospect and attempts to really understand what it is they are looking for. It is displayed not only in the questions that are asked, but also in the tone of voice and body language that is used and the follow-up that is demonstrated after the sales call. Coaches who have passion are able to create long-term profitable relationships with their customers. They also routinely benefit from referrals by their existing clients and, on many occasions, these prospects come to them ready to buy.
Before you rush out to practice your body language and tone of voice in an attempt to find passion, let me add the secret ingredient: heart. Passion comes from a genuine belief of wanting to help the client in both good times and bad.
Passion can actually be measured in a couple of ways. Begin by asking yourself this simple question: "When the day is over and my clients are reflecting back on the people they've interacted with and the activities they've done, do they think of me in a positive light that contributed to them having a good day?" It is important to consider whether your clients truly believe you are helping improve their day and their business. Another assessment tool is found in analysing the number of referrals you get. Referrals are an accurate measurement of how your clients view you. If they honestly believe in you, they recommend you to others
Passion in sales is underrated. Therefore, your ability to genuinely care about your clients, to show an interest in them, and to serve them will determine your long-term business success.
We all know that sales are really all about "Closing The Sale". There is not a salesperson alive who does not use a variety of techniques to help them be successful with customers. However, I believe passion is the most underrated and underutilised sales tool in our arsenal because it is too hard to measure and no one has found an effective way to teach it.
Passion is an effective sales tool because it isn't artificial and can't be faked for a long period of time. It is displayed in people who genuinely care and are willing to take the time to serve their clients in whatever manner is necessary.
Passion in sales is evident when the coach takes the time to listen to their prospect and attempts to really understand what it is they are looking for. It is displayed not only in the questions that are asked, but also in the tone of voice and body language that is used and the follow-up that is demonstrated after the sales call. Coaches who have passion are able to create long-term profitable relationships with their customers. They also routinely benefit from referrals by their existing clients and, on many occasions, these prospects come to them ready to buy.
Before you rush out to practice your body language and tone of voice in an attempt to find passion, let me add the secret ingredient: heart. Passion comes from a genuine belief of wanting to help the client in both good times and bad.
Passion can actually be measured in a couple of ways. Begin by asking yourself this simple question: "When the day is over and my clients are reflecting back on the people they've interacted with and the activities they've done, do they think of me in a positive light that contributed to them having a good day?" It is important to consider whether your clients truly believe you are helping improve their day and their business. Another assessment tool is found in analysing the number of referrals you get. Referrals are an accurate measurement of how your clients view you. If they honestly believe in you, they recommend you to others
Passion in sales is underrated. Therefore, your ability to genuinely care about your clients, to show an interest in them, and to serve them will determine your long-term business success.
Create Your Personal Strategic Plan
By Brian Tracy
Your success in life is determined, to a large extent by your ability to think, plan, decide, and take action. The stronger your skills are in each of these areas, the faster you will achieve your goals and the happier you will be with your life and career. Personal strategic planning is the tool that takes you from wherever you are to wherever you want to go.
Difference between Train and Plane
The difference between people who use strategic planning to organize and direct their lives and those who do not is like the difference between taking a train and taking a plane. Both will get you from point A to point B, but the plane—personal strategic planning—will get you there much faster and without frequent stops.
Systematic Way of Thinking
Skill in personal strategic planning is not something you are born with, like eye color or perfect pitch. It is a systematic way of thinking and acting and is, therefore, something you can learn, like riding a bike or changing a tire. With practice, you can master the many different elements that make up this key skill, and you will get into the rhythm of thinking and acting strategically for the rest of your life. When you do acquire rhythm, you will realize extraordinary results. Your life and career will take off, and the sky is truly the limit.
Save Time and Money
Why is strategic planning and thinking so helpful? The answer is simple: it saves you an enormous amount of time and money. When you review and analyze key strategic questions of concepts of your career or business, you find yourself focusing on the critical tasks necessary to achieve your goals. At the same time, you stop doing those things that keep you from achieving success. You do more of the right things and fewer things that get and keep you off track. You set performance goals for people and projects. You become skilled at measuring and tracking results. You move into the express lane in both work and life.
Design Your Life and Career
Your goals in personal strategic planning are similar. The key difference is that rather than improving your return on equity, your planning efforts will allow you to realize a greater return on energy. You might say that personal strategic planning will increase your return on life. A business measures its equity in terms of financial capital. On the other hand, you measure your personal equity in terms of your own human capital. Your personal equity consists of the physical, emotional, and mental energies you are able to invest in your career. Set a goal of achieving the very highest return possible on the investment of your energies.
Critical Question
Ask yourself this critical question: What is it that I do especially well? Examine the areas where you excel or are clearly superior to others in your field. You need to know what you can claim as your personal competitive advantage. This is the lifeblood of personal strategic planning. Your success is tied directly to how excellent you become at the most important part of your work.
Action Exercise
Clarify your career or business vision. What could your ideal career or business look like? What could you be doing most of the time? How much would you be earning? What kind of people would you be working with? What level of responsibility would you have? What kind of industry would you be in?
By Brian Tracy
Your success in life is determined, to a large extent by your ability to think, plan, decide, and take action. The stronger your skills are in each of these areas, the faster you will achieve your goals and the happier you will be with your life and career. Personal strategic planning is the tool that takes you from wherever you are to wherever you want to go.
Difference between Train and Plane
The difference between people who use strategic planning to organize and direct their lives and those who do not is like the difference between taking a train and taking a plane. Both will get you from point A to point B, but the plane—personal strategic planning—will get you there much faster and without frequent stops.
Systematic Way of Thinking
Skill in personal strategic planning is not something you are born with, like eye color or perfect pitch. It is a systematic way of thinking and acting and is, therefore, something you can learn, like riding a bike or changing a tire. With practice, you can master the many different elements that make up this key skill, and you will get into the rhythm of thinking and acting strategically for the rest of your life. When you do acquire rhythm, you will realize extraordinary results. Your life and career will take off, and the sky is truly the limit.
Save Time and Money
Why is strategic planning and thinking so helpful? The answer is simple: it saves you an enormous amount of time and money. When you review and analyze key strategic questions of concepts of your career or business, you find yourself focusing on the critical tasks necessary to achieve your goals. At the same time, you stop doing those things that keep you from achieving success. You do more of the right things and fewer things that get and keep you off track. You set performance goals for people and projects. You become skilled at measuring and tracking results. You move into the express lane in both work and life.
Design Your Life and Career
Your goals in personal strategic planning are similar. The key difference is that rather than improving your return on equity, your planning efforts will allow you to realize a greater return on energy. You might say that personal strategic planning will increase your return on life. A business measures its equity in terms of financial capital. On the other hand, you measure your personal equity in terms of your own human capital. Your personal equity consists of the physical, emotional, and mental energies you are able to invest in your career. Set a goal of achieving the very highest return possible on the investment of your energies.
Critical Question
Ask yourself this critical question: What is it that I do especially well? Examine the areas where you excel or are clearly superior to others in your field. You need to know what you can claim as your personal competitive advantage. This is the lifeblood of personal strategic planning. Your success is tied directly to how excellent you become at the most important part of your work.
Action Exercise
Clarify your career or business vision. What could your ideal career or business look like? What could you be doing most of the time? How much would you be earning? What kind of people would you be working with? What level of responsibility would you have? What kind of industry would you be in?
THE 10 POWERFUL MUSTS IN MARKETING
THE 10 POWERFUL MUSTS IN MARKETING
By Kevin Thomas
Whenever I meet a Business Owner or an Entrepreneur the first question I ask is "how does your Marketing measure up"? Their usual response is that their Marketing Sucks! How about yours? If you are like most, Marketing is the last thing that you work on in your business. You are either doing the technical part of your business or you are putting out fires. You usually don't have a clear plan or strategy on how to set up a successful Marketing initiative in your organization. Most of the time, we are being reactive instead of proactive. We wait until business slows down and then we put a bunch of money into different media sources in hopes that business gets better. Typically, this doesn't work. But if it does, we don't measure it, to see what part of our message inspired our clients to come in the door or call us on the phone. If you would like to develop a Marketing Strategy that will give you awesome results, consistent traffic and more profits, I encourage you to read on. These are the 10 Powerful Musts that your Marketing Plan should have.
You must have 10 Marketing Strategies active at all time
Most companies have three or less strategies working for them and because of that their message doesn't reach their customers in enough time for it to stick. Researches show that a potential client must hear, see or experience your message 9 times or more before deciding to do business with you. Your website, your TV ad and your print advertising alone, isn't enough to drive the traffic that you need to make your business successful. I teach my clients how to determine the 10 affordable mediums that they can use to get their message out, so that they can attract more clients to them.
Your Marketing Message must address your target market and their interests directly
Your message must be focused.....like a laser beam on your target market. It must speak to their needs directly and clearly. For instance, an auto repair facility may communicate that they are the local experts for European automobiles. By doing this, they have separated themselves from every other repair facility in their area. Anyone who owns a European automobile now has a local expert that they can take their vehicle to.
Your Marketing Message must be consistent across all mediums you use
Many Business Owners are their own worst enemy. This is because they are communicating one message in one ad and another, somewhere else. We mentioned earlier that it takes nine or more impressions before someone makes a decision to purchase from you. If you are sending multiple messages, it will dilute your voice and cost you opportunities.
You must track all leads and know what Marketing Medium brought your prospect to contact you
There is an old saying, "What you measure you will manage". You must know what is working and what is not. If you are advertising somewhere that is delivering results, you want to stay there. If you are advertising somewhere that isn't giving results, drop it and put your money somewhere else. Most business owners have a general idea of what medium is bringing clients in but are not sure. You must track this area. It is as simple as asking a couple of questions or adding a box on your website that asks the client how they heard about you.
Your Marketing Message must be dramatically different from your competitors'
In my Companies, I am constantly watching, reading and listening to my competitors' marketing messages. Most of them look, sound and feel identical because they are put together by the advertising sales reps. They are not marketing experts. Their goal is to sell you space and get a commission......not to help you develop a marketing strategy. If you look at the newspaper ads for Car Dealerships, you will see exactly what I am talking about. Remember, "Same is Lame".
You must constantly be looking for ways to provide additional Products and Services to your target Market.
I call this recycling your customer. You must look for ways to get your customer to continue to spend money with you. Look at Wal-Mart. They started selling just household products and now they sell groceries, electronics, jewelry, etc. You can even get your oil changed, do your banking, get an eye exam or have your taxes prepared while you are there! What products and services compliment what you are currently selling? How can you add that to your existing operation? By doing this, you will add value to your current business model as well as become a one stop shop for your clients. This makes their life easier and it will increase your bottom line.
You must maintain a current database of your current and potential customers
It blows me away when I sit down with a client and they don't have an organized database of their clients. How can you stay in touch with them to share about the new promotions that you have going on? How can you follow up with them to see how the product that you sold them is working out for them? Without a database, you cannot. You must develop one so that you can remind them that you are still here and more importantly that you still care.
You must use strategies such as Guarantees and Testimonials to enhance your Marketing Message in all communications
People love testimonials and guarantees. This gives your potential client the warm and fuzzy feeling that they need to feel comfortable about doing business with you. If they read or see how your product or service has helped hundreds of people improve their lives, save money, time or increase their income, they are more likely to do business with you over your competitor. Your guarantees show the potential client how much confidence that you have in your product or service. Offering powerful guarantees such as warranties and full refunds, if not satisfied, proves to the consumer that there is no risk involved with doing business with you. If your competitor doesn't say these things, it may show that they are not willing to back up what they are selling.
Your Marketing Message must tell your prospect what to do next in making contact with you
After hearing your message, your prospect must be directed on how they should contact you. Should they email, call, write or come in? You cannot assume that they know, you must tell them. They will appreciate you for this.
You must communicate with past customers on a regular basis to ensure that they come back again and again.
The easiest sale is to those who have already done business with you. How are they going to remember you if you don 't communicate with them? I encourage my clients to stay in touch with their clients a minimum of 4 times per year. I advise them to stay away from big holidays such as Christmas and Easter because everyone sends cards during these times. Consider sending something on their birthday, the Fourth of July, New Years Day and Labor Day. You will probably be the only person they receive a card from on any of these given days.
If you develop your Marketing plan using the 10 Powerful Musts, you will increase your business with both new clients as well as returning clients. You will also see an increase in referrals to your business. The best businesses understand that marketing is the most important part of their business because without customers you have no business.
So what are you going to do next?
Well, you can go down to your local college and sign up for a Marketing course if you have the time to do so. Most business owners don 't. You can read a bunch of books and extract the principles outlined, but that takes time and disciple. Or you can hire a Marketing Coach who will help you develop the strategies that we have outlined. By doing so you enjoy the privilege of having your customer pipeline filled at all times.
By Kevin Thomas
Whenever I meet a Business Owner or an Entrepreneur the first question I ask is "how does your Marketing measure up"? Their usual response is that their Marketing Sucks! How about yours? If you are like most, Marketing is the last thing that you work on in your business. You are either doing the technical part of your business or you are putting out fires. You usually don't have a clear plan or strategy on how to set up a successful Marketing initiative in your organization. Most of the time, we are being reactive instead of proactive. We wait until business slows down and then we put a bunch of money into different media sources in hopes that business gets better. Typically, this doesn't work. But if it does, we don't measure it, to see what part of our message inspired our clients to come in the door or call us on the phone. If you would like to develop a Marketing Strategy that will give you awesome results, consistent traffic and more profits, I encourage you to read on. These are the 10 Powerful Musts that your Marketing Plan should have.
You must have 10 Marketing Strategies active at all time
Most companies have three or less strategies working for them and because of that their message doesn't reach their customers in enough time for it to stick. Researches show that a potential client must hear, see or experience your message 9 times or more before deciding to do business with you. Your website, your TV ad and your print advertising alone, isn't enough to drive the traffic that you need to make your business successful. I teach my clients how to determine the 10 affordable mediums that they can use to get their message out, so that they can attract more clients to them.
Your Marketing Message must address your target market and their interests directly
Your message must be focused.....like a laser beam on your target market. It must speak to their needs directly and clearly. For instance, an auto repair facility may communicate that they are the local experts for European automobiles. By doing this, they have separated themselves from every other repair facility in their area. Anyone who owns a European automobile now has a local expert that they can take their vehicle to.
Your Marketing Message must be consistent across all mediums you use
Many Business Owners are their own worst enemy. This is because they are communicating one message in one ad and another, somewhere else. We mentioned earlier that it takes nine or more impressions before someone makes a decision to purchase from you. If you are sending multiple messages, it will dilute your voice and cost you opportunities.
You must track all leads and know what Marketing Medium brought your prospect to contact you
There is an old saying, "What you measure you will manage". You must know what is working and what is not. If you are advertising somewhere that is delivering results, you want to stay there. If you are advertising somewhere that isn't giving results, drop it and put your money somewhere else. Most business owners have a general idea of what medium is bringing clients in but are not sure. You must track this area. It is as simple as asking a couple of questions or adding a box on your website that asks the client how they heard about you.
Your Marketing Message must be dramatically different from your competitors'
In my Companies, I am constantly watching, reading and listening to my competitors' marketing messages. Most of them look, sound and feel identical because they are put together by the advertising sales reps. They are not marketing experts. Their goal is to sell you space and get a commission......not to help you develop a marketing strategy. If you look at the newspaper ads for Car Dealerships, you will see exactly what I am talking about. Remember, "Same is Lame".
You must constantly be looking for ways to provide additional Products and Services to your target Market.
I call this recycling your customer. You must look for ways to get your customer to continue to spend money with you. Look at Wal-Mart. They started selling just household products and now they sell groceries, electronics, jewelry, etc. You can even get your oil changed, do your banking, get an eye exam or have your taxes prepared while you are there! What products and services compliment what you are currently selling? How can you add that to your existing operation? By doing this, you will add value to your current business model as well as become a one stop shop for your clients. This makes their life easier and it will increase your bottom line.
You must maintain a current database of your current and potential customers
It blows me away when I sit down with a client and they don't have an organized database of their clients. How can you stay in touch with them to share about the new promotions that you have going on? How can you follow up with them to see how the product that you sold them is working out for them? Without a database, you cannot. You must develop one so that you can remind them that you are still here and more importantly that you still care.
You must use strategies such as Guarantees and Testimonials to enhance your Marketing Message in all communications
People love testimonials and guarantees. This gives your potential client the warm and fuzzy feeling that they need to feel comfortable about doing business with you. If they read or see how your product or service has helped hundreds of people improve their lives, save money, time or increase their income, they are more likely to do business with you over your competitor. Your guarantees show the potential client how much confidence that you have in your product or service. Offering powerful guarantees such as warranties and full refunds, if not satisfied, proves to the consumer that there is no risk involved with doing business with you. If your competitor doesn't say these things, it may show that they are not willing to back up what they are selling.
Your Marketing Message must tell your prospect what to do next in making contact with you
After hearing your message, your prospect must be directed on how they should contact you. Should they email, call, write or come in? You cannot assume that they know, you must tell them. They will appreciate you for this.
You must communicate with past customers on a regular basis to ensure that they come back again and again.
The easiest sale is to those who have already done business with you. How are they going to remember you if you don 't communicate with them? I encourage my clients to stay in touch with their clients a minimum of 4 times per year. I advise them to stay away from big holidays such as Christmas and Easter because everyone sends cards during these times. Consider sending something on their birthday, the Fourth of July, New Years Day and Labor Day. You will probably be the only person they receive a card from on any of these given days.
If you develop your Marketing plan using the 10 Powerful Musts, you will increase your business with both new clients as well as returning clients. You will also see an increase in referrals to your business. The best businesses understand that marketing is the most important part of their business because without customers you have no business.
So what are you going to do next?
Well, you can go down to your local college and sign up for a Marketing course if you have the time to do so. Most business owners don 't. You can read a bunch of books and extract the principles outlined, but that takes time and disciple. Or you can hire a Marketing Coach who will help you develop the strategies that we have outlined. By doing so you enjoy the privilege of having your customer pipeline filled at all times.
Wednesday, April 21, 2010
Friday, February 5, 2010
Create Your Daily Personal Growth Schedule
Create Your Daily Personal Growth Schedule
There are seven disciplines you must develop if you want to achieve all that is possible for you. You can learn these disciplines through practice and repetition until they become automatic.
Goal Setting
Every morning, take three to five minutes to write out your top goals in the present tense. Get a spiral notebook for this purpose. By writing out your ten goals at the beginning of each day, you will program them deep into your subconscious mind.
This daily goal writing will activate your mental powers. It will stimulate your mind and make you more alert. Throughout the day, you will see opportunities and possibilities to move more rapidly toward your goals.
Planning and Organizing
Take a few minutes, preferably the night before, to plan out every activity of the coming day. Always work from a list. Always think on paper. This is one of the most powerful and important disciplines of all for high performance.
Concentration on your Highest-Value Activities
Your ability to work single-mindedly on your most important task will contribute as much to your success as any other discipline you can develop.
Exercise and Proper Nutrition
Your health is more important than anything else. By disciplining yourself to exercise regularly and to eat carefully, you will promote the highest possible levels of health and fitness throughout your life.
Learning and Growth
Your mind is like a muscle. If you don't use it, you lose it. Continuous learning is the minimum requirement for success in any field.
Time for Important People in Your Life
Relationships are everything. Be sure that in climbing the ladder of success, you do not find it leaning against the wrong building. Build time for your relationships into every day, no matter how busy you get.
Time for Important People in Your Life
These seven disciplines will ensure that you perform at the highest level and get the greatest satisfaction and results from everything you do. Study these seven disciplines and then make a plan for how you can incorporate each of them into your daily life.
There are seven disciplines you must develop if you want to achieve all that is possible for you. You can learn these disciplines through practice and repetition until they become automatic.
Goal Setting
Every morning, take three to five minutes to write out your top goals in the present tense. Get a spiral notebook for this purpose. By writing out your ten goals at the beginning of each day, you will program them deep into your subconscious mind.
This daily goal writing will activate your mental powers. It will stimulate your mind and make you more alert. Throughout the day, you will see opportunities and possibilities to move more rapidly toward your goals.
Planning and Organizing
Take a few minutes, preferably the night before, to plan out every activity of the coming day. Always work from a list. Always think on paper. This is one of the most powerful and important disciplines of all for high performance.
Concentration on your Highest-Value Activities
Your ability to work single-mindedly on your most important task will contribute as much to your success as any other discipline you can develop.
Exercise and Proper Nutrition
Your health is more important than anything else. By disciplining yourself to exercise regularly and to eat carefully, you will promote the highest possible levels of health and fitness throughout your life.
Learning and Growth
Your mind is like a muscle. If you don't use it, you lose it. Continuous learning is the minimum requirement for success in any field.
Time for Important People in Your Life
Relationships are everything. Be sure that in climbing the ladder of success, you do not find it leaning against the wrong building. Build time for your relationships into every day, no matter how busy you get.
Time for Important People in Your Life
These seven disciplines will ensure that you perform at the highest level and get the greatest satisfaction and results from everything you do. Study these seven disciplines and then make a plan for how you can incorporate each of them into your daily life.
Tuesday, February 2, 2010
8 Signs You Might Be Boring Someone
8 Signs You Might Be Boring Someone
A recent Psychology Today article by Gretchen Rubin provides a list of clues that you might be boring someone during a conversation. I’ve certainly been trapped in conversations with people who didn’t understand how to pick up on subtle clues that their long narrative about a weird dream they had or a particularly awesome golf game they played were boring the heck out of me — and just the same, I’m sure I’ve been oblivious to those signs in others, as well. Have you been on the giving or receiving end of any of these signs?
1. Repeated, perfunctory responses.
A person who repeats, “Oh really? Wow. Oh really? Interesting.” isn’t particularly engaged.
2. Simple questions. People who are bored ask simple questions.
“When did you move?” “Where did you go?” People who are interested ask more complicated questions that show curiosity, not mere politeness.
3. Interruption. Although it sounds rude, interruption is actually a good sign, I think. It means a person is bursting to say something, and that shows interest. Similarly…
4. Request for clarification. A person who is sincerely interested in what you’re saying will ask you to elaborate or to explain. “What does that term mean?” “When exactly did that happen?” “Then what did he say?” are the kinds of questions that show that someone is trying closely to follow what you’re saying.
5. Imbalance of talking time. I suspect that many people fondly suppose that they usually do eighty percent of the talking because people find them fascinating. Sometimes, it’s true, a discussion involves a huge download of information desired by the listener; that’s a very satisfying kind of conversation. In general, though, people who are interested in a subject have things to say themselves; they want to add their own opinions, information, and experiences. If they aren’t doing that, they’re probably keeping quiet in the hopes that the conversation will end faster. Or maybe you just aren’t letting them get a word in — recently I was talking to someone who, though fascinating, didn’t want to let me contribute to the conversation. I enjoyed it, but not as much as if I’d been able to talk, too.
6. Abrupt changes in topic. If you’re talking to someone about, say, the life of Winston Churchill (I have a tendency to dwell at length on this particular subject), and all of a sudden the other person says, “So how are your kids?”, it’s a sign that he or she isn’t very interested or perhaps not listening at all. When someone makes this kind of switch, I have to fight the urge not to drag the topic back to what I want to talk about – but the fact that someone has introduced a completely different subject is a sure sign that the subject is not engaging.
7. Body position. People with a good connection generally turn to face each other. A person who is partially turned away isn’t fully embracing the conversation. Along the same lines, if you’re a speaker trying to figure out if an audience is interested in what you’re saying:
8. Audience posture. Back in 1885, Sir Francis Galton wrote a paper called “The Measurement of Fidget.” He determined that people slouch and lean when bored, so a speaker can measure the boredom of an audience by seeing how far from vertically upright they are. Also, attentive people fidget less; bored people fidget more. An audience that’s sitting still and upright is interested, while an audience that’s horizontal and squirmy is bored.
The article goes on to list a number of topics which are almost universally boring — so if you find yourself delving into one of these, be sure and gauge your listener for any of the above signs of disengagement!
1. A dream.
2. The recent changes in your child’s nap schedule.
3. The route you took to get here.
4. An excellent meal you once had at a restaurant.
5. The latest additions to your wine cellar.
6. An account of your last golf game.
A recent Psychology Today article by Gretchen Rubin provides a list of clues that you might be boring someone during a conversation. I’ve certainly been trapped in conversations with people who didn’t understand how to pick up on subtle clues that their long narrative about a weird dream they had or a particularly awesome golf game they played were boring the heck out of me — and just the same, I’m sure I’ve been oblivious to those signs in others, as well. Have you been on the giving or receiving end of any of these signs?
1. Repeated, perfunctory responses.
A person who repeats, “Oh really? Wow. Oh really? Interesting.” isn’t particularly engaged.
2. Simple questions. People who are bored ask simple questions.
“When did you move?” “Where did you go?” People who are interested ask more complicated questions that show curiosity, not mere politeness.
3. Interruption. Although it sounds rude, interruption is actually a good sign, I think. It means a person is bursting to say something, and that shows interest. Similarly…
4. Request for clarification. A person who is sincerely interested in what you’re saying will ask you to elaborate or to explain. “What does that term mean?” “When exactly did that happen?” “Then what did he say?” are the kinds of questions that show that someone is trying closely to follow what you’re saying.
5. Imbalance of talking time. I suspect that many people fondly suppose that they usually do eighty percent of the talking because people find them fascinating. Sometimes, it’s true, a discussion involves a huge download of information desired by the listener; that’s a very satisfying kind of conversation. In general, though, people who are interested in a subject have things to say themselves; they want to add their own opinions, information, and experiences. If they aren’t doing that, they’re probably keeping quiet in the hopes that the conversation will end faster. Or maybe you just aren’t letting them get a word in — recently I was talking to someone who, though fascinating, didn’t want to let me contribute to the conversation. I enjoyed it, but not as much as if I’d been able to talk, too.
6. Abrupt changes in topic. If you’re talking to someone about, say, the life of Winston Churchill (I have a tendency to dwell at length on this particular subject), and all of a sudden the other person says, “So how are your kids?”, it’s a sign that he or she isn’t very interested or perhaps not listening at all. When someone makes this kind of switch, I have to fight the urge not to drag the topic back to what I want to talk about – but the fact that someone has introduced a completely different subject is a sure sign that the subject is not engaging.
7. Body position. People with a good connection generally turn to face each other. A person who is partially turned away isn’t fully embracing the conversation. Along the same lines, if you’re a speaker trying to figure out if an audience is interested in what you’re saying:
8. Audience posture. Back in 1885, Sir Francis Galton wrote a paper called “The Measurement of Fidget.” He determined that people slouch and lean when bored, so a speaker can measure the boredom of an audience by seeing how far from vertically upright they are. Also, attentive people fidget less; bored people fidget more. An audience that’s sitting still and upright is interested, while an audience that’s horizontal and squirmy is bored.
The article goes on to list a number of topics which are almost universally boring — so if you find yourself delving into one of these, be sure and gauge your listener for any of the above signs of disengagement!
1. A dream.
2. The recent changes in your child’s nap schedule.
3. The route you took to get here.
4. An excellent meal you once had at a restaurant.
5. The latest additions to your wine cellar.
6. An account of your last golf game.
Competition Brings Out The Best
Competition Brings Out The Best
By Brian Tracy
In a free market society like the U.S., there is a continuous competition for talent and skill. Every business knows that the critical constraint on its ability to grow is competent to people who can get results. Like cream rising to the top, people who can do a good job are hired sooner, paid more, and promoted faster. People who are not competent or motivated are not. No laws can change this. They can only mask it temporarily.
Compassion or Condescension
Compassion can quickly become condescension. Minority groups can become victims of what President George Bush called “the soft bigotry of reduced expectations.” People begin to judge them by lower standards and expect less of them in comparison with others. This is completely unacceptable in America. The way to bring the best out of people is by challenging them-by setting high standards, by demanding their “best game.”
A System Gone Astray
The U.S. education system, once the best in the world (and still the best at the University level), has become a tragedy and a trap for more young people caught in it and unable to escape. In 1947, 97 percent of Americans were literate, reading several books a year, and often each month. By 2004, fully 47 percent of Americans could not read above the seventh grade level. People who have not mastered the three R's by the time they leave school are destined to lifetimes of low income, under achievement, and wasted potential.
"Reach Your Maximum Level of Achievement"
While many people have "dreams and aspirations" about how they want their futures to turn out, very few people actually have a plan to get there. No matter what your dreams and aspirations are, one thing is certain: To achieve them, you must have the right tools to guarantee your success.
Failing Schools
Today, African American students test at four grade levels below white and Asian students in the same schools. Even worse, they are not allowed to escape their failing schools, especially in the inner cities. They are trapped into lifetimes of below-average incomes, insecurity, and eventually envy, resentment, and feelings of victim-hood.
Enter the Unions
The first teachers union was formed in the 1950's. In a few years, driven by expediency, the focus of teaching shifted from student achievement to teacher pay and benefits. As Albert Schanker, head of the American Teachers Federation, once said, “When the children start paying union dues, then we'll start caring about the children. ”
Competition is Key
The Economist magazine wrote on June 11, 2005, “The schools the poorest Americans attend have been getting worse rather than better.” This is partly a problem of resources, to be sure. But it is even more a problem of bad ideas. One poll of 900 professors of education found that 64 percent of them thought that schools should avoid competition. The only way to reverse the educational system is to change the structure of incentives in such a way that academic excellence is pursued and rewarded. Without competition, there is no motivation to improve.
Action Exercise
Get involved in your children's education, and whenever possible, vote for the betterment of the educational system.
By Brian Tracy
In a free market society like the U.S., there is a continuous competition for talent and skill. Every business knows that the critical constraint on its ability to grow is competent to people who can get results. Like cream rising to the top, people who can do a good job are hired sooner, paid more, and promoted faster. People who are not competent or motivated are not. No laws can change this. They can only mask it temporarily.
Compassion or Condescension
Compassion can quickly become condescension. Minority groups can become victims of what President George Bush called “the soft bigotry of reduced expectations.” People begin to judge them by lower standards and expect less of them in comparison with others. This is completely unacceptable in America. The way to bring the best out of people is by challenging them-by setting high standards, by demanding their “best game.”
A System Gone Astray
The U.S. education system, once the best in the world (and still the best at the University level), has become a tragedy and a trap for more young people caught in it and unable to escape. In 1947, 97 percent of Americans were literate, reading several books a year, and often each month. By 2004, fully 47 percent of Americans could not read above the seventh grade level. People who have not mastered the three R's by the time they leave school are destined to lifetimes of low income, under achievement, and wasted potential.
"Reach Your Maximum Level of Achievement"
While many people have "dreams and aspirations" about how they want their futures to turn out, very few people actually have a plan to get there. No matter what your dreams and aspirations are, one thing is certain: To achieve them, you must have the right tools to guarantee your success.
Failing Schools
Today, African American students test at four grade levels below white and Asian students in the same schools. Even worse, they are not allowed to escape their failing schools, especially in the inner cities. They are trapped into lifetimes of below-average incomes, insecurity, and eventually envy, resentment, and feelings of victim-hood.
Enter the Unions
The first teachers union was formed in the 1950's. In a few years, driven by expediency, the focus of teaching shifted from student achievement to teacher pay and benefits. As Albert Schanker, head of the American Teachers Federation, once said, “When the children start paying union dues, then we'll start caring about the children. ”
Competition is Key
The Economist magazine wrote on June 11, 2005, “The schools the poorest Americans attend have been getting worse rather than better.” This is partly a problem of resources, to be sure. But it is even more a problem of bad ideas. One poll of 900 professors of education found that 64 percent of them thought that schools should avoid competition. The only way to reverse the educational system is to change the structure of incentives in such a way that academic excellence is pursued and rewarded. Without competition, there is no motivation to improve.
Action Exercise
Get involved in your children's education, and whenever possible, vote for the betterment of the educational system.
Saturday, January 30, 2010
Are entrepreneurs born or made?
Are entrepreneurs born or made?
By Ian Mount
When Bill Gates's children become adults, they'll probably launch their own businesses.
And not just because of their father's example. Entrepreneurial tendencies -- including the ability to recognize business opportunities -- are heavily influenced by genetic factors, according to a study co-directed by Scott Shane, a professor of entrepreneurial studies at Case Western Reserve University.
Shane and his fellow researchers compared the entrepreneurial activity of 870 pairs of identical twins -- who share 100% of their genes -- and 857 pairs of same-sex fraternal twins -- who share 50% -- to see how much of entrepreneurial behavior is genetic and how much is environmental.
The mathematics behind quantitative genetic modeling are rather complicated, but the upshot was fairly straightforward: Entrepreneurs, the researchers concluded, are about 40% born and 60% made. Ten to 15 years from now, genetically advantaged entrepreneurs might be identified through DNA testing or psychological surveys, Shane says.
Some academics go further: University of Cambridge clinical neuropsychology professor Barbara Sahakian, lead author of a recent study on entrepreneurial risk taking published in Nature, says that drugs used to manipulate dopamine levels might be employed to enhance entrepreneurship.
"Nature" theories like these don't sit well with professionals in the booming "nurture" field of entrepreneurship education. (The number of undergraduate majors, minors and certificates offered in entrepreneurship rose from 104 in 1975 to more than 500 in 2006, according to the Ewing Marion Kauffman Foundation, a Kansas City, Mo., think tank.)
For Heidi Neck, a professor of entrepreneurial studies at Babson College, nature studies hinder the democratization of entrepreneurship.
"If entrepreneurship is the path to economic development, to the American dream and out of recession, I think it's dangerous to say it's hereditary," Neck says.
Others are even more adamant in their distaste.
"Even if you were able to identify specific genes, then what would you do -- inject them into people who lack them?" asks Donald F. Kuratko, executive director of the Johnson Center for Entrepreneurship & Innovation at Indiana University. The very idea, Kuratko says, is reminiscent of the Nazis' World War II eugenics program.
There is more than academic turf at stake. Startups are responsible for more than a third of all new jobs created in the U.S., and firms less than five years old accounted for all net job growth between 1980 and 2005, according to the Kauffman Foundation.
For Bo Fishback, vice president of entrepreneurship at the foundation, entrepreneur gene studies are largely curiosities. What's most important for Fishback is opening the possibility of entrepreneurship to more people. Shane himself suggests that psychological surveys based on his findings could be used to identify potential entrepreneurs at a young age so they could be exposed to opportunity early, helping, for example, to turn a future entrepreneurial gang leader into a budding business founder.
Exposure seems to have an effect: A recent study at Munich's Ludwig Maximilians University found that a compulsory entrepreneurship course led about 18% of students who hadn't planned to launch a company to reconsider. The class also vastly increased the students' confidence that they knew what was necessary to start a business.
This confidence seems warranted in light of a 2006 study led by Yale University economics professor Dean Karlan, which focused on a banking program for female microentrepreneurs in a Peruvian village and determined that the women who took business-training classes had 16% higher sales than those who didn't.
Educators are not surprised by such findings. "I do believe that you can teach entrepreneurship skills," says Randy Komisar, a partner at Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers, who teaches at Stanford University. Classes, he observes, give students basic tools and reinforce the desire to take risks and question the status quo.
But he doesn't totally dismiss nature's role. "For someone without aptitude, I don't think those things can be taught," he says. "I can't make a librarian into a Broadway performer."
The debate will probably heat up soon. A book by Shane and his colleagues, Born Entrepreneurs, Born Leaders: How Your Genes Affect Your Work Life, is due from Oxford University Press in March 2010.
By Ian Mount
When Bill Gates's children become adults, they'll probably launch their own businesses.
And not just because of their father's example. Entrepreneurial tendencies -- including the ability to recognize business opportunities -- are heavily influenced by genetic factors, according to a study co-directed by Scott Shane, a professor of entrepreneurial studies at Case Western Reserve University.
Shane and his fellow researchers compared the entrepreneurial activity of 870 pairs of identical twins -- who share 100% of their genes -- and 857 pairs of same-sex fraternal twins -- who share 50% -- to see how much of entrepreneurial behavior is genetic and how much is environmental.
The mathematics behind quantitative genetic modeling are rather complicated, but the upshot was fairly straightforward: Entrepreneurs, the researchers concluded, are about 40% born and 60% made. Ten to 15 years from now, genetically advantaged entrepreneurs might be identified through DNA testing or psychological surveys, Shane says.
Some academics go further: University of Cambridge clinical neuropsychology professor Barbara Sahakian, lead author of a recent study on entrepreneurial risk taking published in Nature, says that drugs used to manipulate dopamine levels might be employed to enhance entrepreneurship.
"Nature" theories like these don't sit well with professionals in the booming "nurture" field of entrepreneurship education. (The number of undergraduate majors, minors and certificates offered in entrepreneurship rose from 104 in 1975 to more than 500 in 2006, according to the Ewing Marion Kauffman Foundation, a Kansas City, Mo., think tank.)
For Heidi Neck, a professor of entrepreneurial studies at Babson College, nature studies hinder the democratization of entrepreneurship.
"If entrepreneurship is the path to economic development, to the American dream and out of recession, I think it's dangerous to say it's hereditary," Neck says.
Others are even more adamant in their distaste.
"Even if you were able to identify specific genes, then what would you do -- inject them into people who lack them?" asks Donald F. Kuratko, executive director of the Johnson Center for Entrepreneurship & Innovation at Indiana University. The very idea, Kuratko says, is reminiscent of the Nazis' World War II eugenics program.
There is more than academic turf at stake. Startups are responsible for more than a third of all new jobs created in the U.S., and firms less than five years old accounted for all net job growth between 1980 and 2005, according to the Kauffman Foundation.
For Bo Fishback, vice president of entrepreneurship at the foundation, entrepreneur gene studies are largely curiosities. What's most important for Fishback is opening the possibility of entrepreneurship to more people. Shane himself suggests that psychological surveys based on his findings could be used to identify potential entrepreneurs at a young age so they could be exposed to opportunity early, helping, for example, to turn a future entrepreneurial gang leader into a budding business founder.
Exposure seems to have an effect: A recent study at Munich's Ludwig Maximilians University found that a compulsory entrepreneurship course led about 18% of students who hadn't planned to launch a company to reconsider. The class also vastly increased the students' confidence that they knew what was necessary to start a business.
This confidence seems warranted in light of a 2006 study led by Yale University economics professor Dean Karlan, which focused on a banking program for female microentrepreneurs in a Peruvian village and determined that the women who took business-training classes had 16% higher sales than those who didn't.
Educators are not surprised by such findings. "I do believe that you can teach entrepreneurship skills," says Randy Komisar, a partner at Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers, who teaches at Stanford University. Classes, he observes, give students basic tools and reinforce the desire to take risks and question the status quo.
But he doesn't totally dismiss nature's role. "For someone without aptitude, I don't think those things can be taught," he says. "I can't make a librarian into a Broadway performer."
The debate will probably heat up soon. A book by Shane and his colleagues, Born Entrepreneurs, Born Leaders: How Your Genes Affect Your Work Life, is due from Oxford University Press in March 2010.
Change Your Definition of Marketing
Change Your Definition of Marketing
By Dan Kennedy
In my 35 years working with business owners, entrepreneurs and big corporate clients on marketing, I've seen many different definitions of marketing govern peoples approaches to it, and unfortunately, most versions are narrow, limiting and--well--wrong. Marketing shouldn't just be a cog in the wheel or a link in the chain of moving prospects to buyers or products to market.
Of late, the entire U.S. economy has been weighed down by a massive over-supply of look-alike, do-alike, painfully ordinary businesses doing ordinary things in ordinary ways. About one-third are unnecessary duplicates.This column's space prohibits full discussion of everything marketing is and isn't, should and shouldn't be. But one of the best functions of marketing has always been business reinvention, and there's never been a better or more necessary time for that.
In No B.S. Ruthless Management of People and Profits, I tell the story of a Disney executive describing "the million dollar piece of gum"--how gum left on the ground might cost the company a million dollars. Walt originally included park cleanliness as a marketing function, not a cost of operations. He defined the core of good marketing as doing what you do so well and so uniquely that people can't resist telling others about you. Disneyreinvented the traditional amusement park. Initial reinventions included: single entry and exit rather than open design--forcing customers to exit through the main shopping area and all the souvenir stands, an innovation now replicated in the exit paths from individual rides and attractions within the parks; price per day vs. individual tickets for rides; and the aforementioned cleanliness.
Similarly, Howard Schultz reinvented the coffee shop as "the third place"--Starbucks--and is now trying to reinvent for the developing New Economy and "un-invent" some sins committed in his absence.
Aradical approach to innovation and marketing isn't restricted to big corporations--there are plenty of small businesses ahead of the curve. Let me tell you about a few of our Glazer-Kennedy Insider's Circle members who have reinvented the concept of fractional ownership.
Diana Coutu ofDiana's Gourmet Pizzeriain Winnipeg doubled her business' sales and size last year selling pizzas priced from $22 to $38, thanks to innovations not at all common to pizza places, including levels of membership with fees automatically charged to customers' credit cards every month (stabilizing income and locking in use in advance, thus protecting customers from competitors' seductions); multiple ways to take home the products--cooked and ready to eat, frozen and ready to heat, "from scratch" baking kits (for family fun nights), raw dough--and with comprehensive direct-to-customers marketing built around a newsletter and website.
Nigel Worralreinvented the business of renting out homes to Florida vacationers with different clubs, bundled excursion and adventure activities, and extraordinary marketing with an emphasis on the experience, not 'X' number of bedrooms plus a pool for 'Y' dollars a day, marketing--and his business is booming even as other Florida travel destinations cry about the recession.
Chris Hurn, CEO ofKennedy's All-American Barber Club, reinvented by combining a classic men's barber shop that offers straight razor shaves with a men's club atmosphere and different programs of membership--as opposed to cafeteria-style pricing.
In all these cases, marketing is not being used as a means of getting a customer or making a sale. Instead, it's in the context of dynamically changing the business itself and delivering an entirely different customer experience. With this comprehensive approach, the businesses thrive.
The hierarchy of income:
• Bottom is commodities.
• Next--products and services discussed in terms of features and benefits, provided by vendors and salespeople.
• Next--solutions to problems and fulfillment of unmet desires, provided by experts.
• At the top, exceptional experiences provided by experts in "categories of one."
Begin here: Question and be willing to throw out any and every industry norm, tradition, current belief, idea and practice now defining your business, as you advertise, market and operate it and as customers perceive it. Then search for opportunities to make your business something entirely different and more meaningful to the customer than just a provider of goods and services. Very, very, very few business owners are willing to engage in such radicalism. We have a term for them: multimillionaires.
Widely celebrated as "the millionaire maker," Dan Kennedy has a long record of taking entrepreneurs to 7-figure incomes. A serial entrepreneur directly influencing over 1 million business owners as a business coach, he's the author of the popular No B.S. series, including the forthcoming No B.S. Sales Success for The New Economy, accessible for free preview atwww.NoBSBooks.com.More information about Dan can be found atFreeGiftFrom.com/entrepreneurpress.
By Dan Kennedy
In my 35 years working with business owners, entrepreneurs and big corporate clients on marketing, I've seen many different definitions of marketing govern peoples approaches to it, and unfortunately, most versions are narrow, limiting and--well--wrong. Marketing shouldn't just be a cog in the wheel or a link in the chain of moving prospects to buyers or products to market.
Of late, the entire U.S. economy has been weighed down by a massive over-supply of look-alike, do-alike, painfully ordinary businesses doing ordinary things in ordinary ways. About one-third are unnecessary duplicates.This column's space prohibits full discussion of everything marketing is and isn't, should and shouldn't be. But one of the best functions of marketing has always been business reinvention, and there's never been a better or more necessary time for that.
In No B.S. Ruthless Management of People and Profits, I tell the story of a Disney executive describing "the million dollar piece of gum"--how gum left on the ground might cost the company a million dollars. Walt originally included park cleanliness as a marketing function, not a cost of operations. He defined the core of good marketing as doing what you do so well and so uniquely that people can't resist telling others about you. Disneyreinvented the traditional amusement park. Initial reinventions included: single entry and exit rather than open design--forcing customers to exit through the main shopping area and all the souvenir stands, an innovation now replicated in the exit paths from individual rides and attractions within the parks; price per day vs. individual tickets for rides; and the aforementioned cleanliness.
Similarly, Howard Schultz reinvented the coffee shop as "the third place"--Starbucks--and is now trying to reinvent for the developing New Economy and "un-invent" some sins committed in his absence.
Aradical approach to innovation and marketing isn't restricted to big corporations--there are plenty of small businesses ahead of the curve. Let me tell you about a few of our Glazer-Kennedy Insider's Circle members who have reinvented the concept of fractional ownership.
Diana Coutu ofDiana's Gourmet Pizzeriain Winnipeg doubled her business' sales and size last year selling pizzas priced from $22 to $38, thanks to innovations not at all common to pizza places, including levels of membership with fees automatically charged to customers' credit cards every month (stabilizing income and locking in use in advance, thus protecting customers from competitors' seductions); multiple ways to take home the products--cooked and ready to eat, frozen and ready to heat, "from scratch" baking kits (for family fun nights), raw dough--and with comprehensive direct-to-customers marketing built around a newsletter and website.
Nigel Worralreinvented the business of renting out homes to Florida vacationers with different clubs, bundled excursion and adventure activities, and extraordinary marketing with an emphasis on the experience, not 'X' number of bedrooms plus a pool for 'Y' dollars a day, marketing--and his business is booming even as other Florida travel destinations cry about the recession.
Chris Hurn, CEO ofKennedy's All-American Barber Club, reinvented by combining a classic men's barber shop that offers straight razor shaves with a men's club atmosphere and different programs of membership--as opposed to cafeteria-style pricing.
In all these cases, marketing is not being used as a means of getting a customer or making a sale. Instead, it's in the context of dynamically changing the business itself and delivering an entirely different customer experience. With this comprehensive approach, the businesses thrive.
The hierarchy of income:
• Bottom is commodities.
• Next--products and services discussed in terms of features and benefits, provided by vendors and salespeople.
• Next--solutions to problems and fulfillment of unmet desires, provided by experts.
• At the top, exceptional experiences provided by experts in "categories of one."
Begin here: Question and be willing to throw out any and every industry norm, tradition, current belief, idea and practice now defining your business, as you advertise, market and operate it and as customers perceive it. Then search for opportunities to make your business something entirely different and more meaningful to the customer than just a provider of goods and services. Very, very, very few business owners are willing to engage in such radicalism. We have a term for them: multimillionaires.
Widely celebrated as "the millionaire maker," Dan Kennedy has a long record of taking entrepreneurs to 7-figure incomes. A serial entrepreneur directly influencing over 1 million business owners as a business coach, he's the author of the popular No B.S. series, including the forthcoming No B.S. Sales Success for The New Economy, accessible for free preview atwww.NoBSBooks.com.More information about Dan can be found atFreeGiftFrom.com/entrepreneurpress.
How to profit from customer complain
How to profit from customer complaint
By Marie Moody
Obstinacy can push an entrepreneur to persevere when any sane person would quit. But obstinacy can also kill your business if it keeps you in denial.
Because I am obstinate, I pursued my dream of creating a premium pet-food company that sells what it claims to sell and not some unidentifiable substance in a dressed-up bag. Stella & Chewy's ingredients include organic fruits and vegetables and meats that are free of antibiotics and hormones.
Originally we packaged our foods in transparent bags. In fact, transparency became our guiding philosophy. Today we offer open plant tours, publish our meat sources and test every batch of food for salmonella and E. coli using codes that can match each bag to its lab result online.
To launch the company in 2003, I pounded the pavement, visiting every pet-food store in Manhattan -- where I lived then -- and some outside the city. By 2006 Stella & Chewy's was sold in 250 stores, mostly in New York City. In 2007 I moved the company to Muskego, Wis., where I opened a manufacturing plant. That year our revenues were almost $500,000.
But getting my product into stores was just the beginning: I then had to persuade pet owners to buy it. We were competing against much bigger pet-food companies whose monthly marketing budgets dwarfed our annual sales. So we invested in brochures and a Webs ite and even stood on sidewalks distributing samples. Eventually we developed a loyal following.
With more customers came more feedback -- much of which I dismissed. Your dog doesn't eat lamb? He's allergic to blueberries? You hate the name Stella & Chewy's? You're concerned about where the cows sleep? We responded diplomatically to these concerns. Still, my gut told me that I knew what was best for my company.
I was also fielding complaints about ice crystals on the food. Ice crystals form when the air temperature changes. Practically every frozen food item develops ice crystals by the time it hits the retail store because of slight temperature changes during transport. For this reason, most frozen foods are packaged in opaque bags or boxes. Studies have proved that ice crystals have little, if any, effect on either the quality or the taste of the food. Basically, there's nothing wrong with a little ice.
So I ignored the complaints. After all, I told myself, we were better than competitors that wouldn't even reveal their products. We weren't hiding anything.
In 2007, the popularity of frozen pet food soared after some of the bigger American pet-food manufacturers issued recalls. Some of their products had been contaminated by melamine, a chemical found in an ingredient many of those companies imported from China. Thousands of dogs and cats died from the tainted food, so consumers sought smaller pet-food vendors that they hoped would have better control over their ingredients. Suddenly we had more competition.
Our sales kept growing, but not as fast as those of our rivals. Retailers told me that consumers who were new to the frozen pet-food category -- crucial customers for sales growth -- were choosing products packaged in opaque bags. Hearing this over the phone from a store employee or from the occasional customer was one thing.
However, when I visited the stores and forced myself to consider my product objectively, I had to agree: The ice crystals undercut the look I wanted. The food didn't appear fresh; it looked as if a blizzard had hit the inside of the bag.
We switched to opaque bags and overhauled our in-plant freezers so that the food would freeze faster, resulting in smaller ice crystals. Customers responded: In 2009 Stella & Chewy's was sold in 2,500 stores across the country. Annual revenues should exceed $5 million this year.
Today we can afford to use consumer focus groups. It's tough to sit behind a one-way mirror and listen to people criticize the brand. "Is this a treat or a meal? Why no pictures of cats on the bag? Why does Stella [one of my dogs] look like a Cyclops on the logo?"
But now I take a deep breath and remember that the critics might just be right.
By Marie Moody
Obstinacy can push an entrepreneur to persevere when any sane person would quit. But obstinacy can also kill your business if it keeps you in denial.
Because I am obstinate, I pursued my dream of creating a premium pet-food company that sells what it claims to sell and not some unidentifiable substance in a dressed-up bag. Stella & Chewy's ingredients include organic fruits and vegetables and meats that are free of antibiotics and hormones.
Originally we packaged our foods in transparent bags. In fact, transparency became our guiding philosophy. Today we offer open plant tours, publish our meat sources and test every batch of food for salmonella and E. coli using codes that can match each bag to its lab result online.
To launch the company in 2003, I pounded the pavement, visiting every pet-food store in Manhattan -- where I lived then -- and some outside the city. By 2006 Stella & Chewy's was sold in 250 stores, mostly in New York City. In 2007 I moved the company to Muskego, Wis., where I opened a manufacturing plant. That year our revenues were almost $500,000.
But getting my product into stores was just the beginning: I then had to persuade pet owners to buy it. We were competing against much bigger pet-food companies whose monthly marketing budgets dwarfed our annual sales. So we invested in brochures and a Webs ite and even stood on sidewalks distributing samples. Eventually we developed a loyal following.
With more customers came more feedback -- much of which I dismissed. Your dog doesn't eat lamb? He's allergic to blueberries? You hate the name Stella & Chewy's? You're concerned about where the cows sleep? We responded diplomatically to these concerns. Still, my gut told me that I knew what was best for my company.
I was also fielding complaints about ice crystals on the food. Ice crystals form when the air temperature changes. Practically every frozen food item develops ice crystals by the time it hits the retail store because of slight temperature changes during transport. For this reason, most frozen foods are packaged in opaque bags or boxes. Studies have proved that ice crystals have little, if any, effect on either the quality or the taste of the food. Basically, there's nothing wrong with a little ice.
So I ignored the complaints. After all, I told myself, we were better than competitors that wouldn't even reveal their products. We weren't hiding anything.
In 2007, the popularity of frozen pet food soared after some of the bigger American pet-food manufacturers issued recalls. Some of their products had been contaminated by melamine, a chemical found in an ingredient many of those companies imported from China. Thousands of dogs and cats died from the tainted food, so consumers sought smaller pet-food vendors that they hoped would have better control over their ingredients. Suddenly we had more competition.
Our sales kept growing, but not as fast as those of our rivals. Retailers told me that consumers who were new to the frozen pet-food category -- crucial customers for sales growth -- were choosing products packaged in opaque bags. Hearing this over the phone from a store employee or from the occasional customer was one thing.
However, when I visited the stores and forced myself to consider my product objectively, I had to agree: The ice crystals undercut the look I wanted. The food didn't appear fresh; it looked as if a blizzard had hit the inside of the bag.
We switched to opaque bags and overhauled our in-plant freezers so that the food would freeze faster, resulting in smaller ice crystals. Customers responded: In 2009 Stella & Chewy's was sold in 2,500 stores across the country. Annual revenues should exceed $5 million this year.
Today we can afford to use consumer focus groups. It's tough to sit behind a one-way mirror and listen to people criticize the brand. "Is this a treat or a meal? Why no pictures of cats on the bag? Why does Stella [one of my dogs] look like a Cyclops on the logo?"
But now I take a deep breath and remember that the critics might just be right.
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