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.
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