If greatness is your goal, whether in your business life, your personal relationships or your own personal growth, here are some guidelines to get you on your way. Greatness is possible! You can achieve the goals you set for yourself and you can make a difference in your own life and those who live and work around you! Set greatness as your goal! Here’s how:
Identify greatness for yourself. While there are some basic generalities that most people would consider great, there are broader definitions of greatness, ones that each individual sets for him or herself. For example, most people would consider Mother Theresa great while only some would consider Donald Trump great. Helping humanity is a broad generality while building a real estate fortune isn’t. So what you need to first do is ask, “What does greatness look like for this company, organization, family or for myself?” From there you can develop values and a mission statement etc. But if you don’t first identify it, you’ll never reach it.
Maximize targeted end results. As Covey says, “begin with the end in mind.” What end results do you want. Be specific. Come up with all of them. Maximize them. Leave no stone uncovered. Set out for yourself all of the goals or end results you must hit in order to reach greatness. Write them down, memorize them and distribute them broadly (if doing this for a group). Maximize your targeted end results!
Make distinction your endeavor. What is the endeavor of the great? Usually it is to distinguish themselves from the average. They seek to rise above the rest by the quality of their product or service. Everything goes toward the goal of making themselves distinct from the run of the mill. That is their mission. And in doing so, they make themselves great!
Map your effort thoroughly. The three most important words in real estate are “location, location, location.” In reaching a goal, the three most important words are “plan, plan, plan.” Okay, “execute” and “persevere” work too, but go with me here! Too many people wish they would achieve something but never write down a plan for getting there. When I want to go on a long trip I don’t just wish to get there. I plan on how to get there. I get a map, I figure out distances, times etc. Map out your goal thoroughly. This will help you achieve greatness.
Regularly take time for regeneration. Achieving greatness is hard! You will care more, work harder, and take more lumps and setbacks than the rest. So you will need to take time to regenerate so you can fight again another day. Your body needs rest. Your mind needs rest. Your emotions need rest. Your spirit needs rest. I firmly believe that a person who rests well can do more in less time than the one works without setting aside time for regeneration. You may be able to reach goals without rest, but somewhere along the line, you will fall harder and longer if you aren’t regularly regenerating yourself. So take your vacation time this year!
Have a strict evaluation process. Every plan and goal needs an evaluation tool. And it should be a strict evaluation process. This is how you objectively decide whether or not you are proceeding toward your goal. If you have the right evaluation tool and you look six months into it and you aren’t hitting the goals, perhaps you need to change the goal or the way you are going after it. The evaluation process is not to be underestimated in its importance!
Take somebody else with you. True greatness is not individual. The one who becomes great spreads the reward of greatness around. Incorporate many people into the plan and let them eat of the fruit of success. I live in an area that has literally thousands of millionaires created by a company that had a vision of greatness. And while yes, they experience the reward, the rewards then go out many levels through the whole community, from businesses that support our community to non-profit groups, churches, and schools. True greatness blesses those many levels away.
Learn to party! Party? Yes! What good is greatness if you can’t enjoy it? And not just the final destination but also the entire journey. Be sure to stop along the way and relish in your movement. Celebrate small and large victories. This keeps the sprit high and the big mo rolling! Spend the money, buy the food and blow up the balloons – it’s time to celebrate!
Friday, September 26, 2008
Wednesday, September 24, 2008
THE THREE SKILLS OF "ORDINARY" GENIUS
A couple of weeks ago I wrote that "it's the little things" that make all the difference. Many people wrote to say how helpful that was and asked me to write more about it. I'm convinced that a great life is rarely built on a brilliant flash of inspiration or one profound insight. More often great lives are built by ordinary people, doing ordinary things, extraordinarily well. Do you remember the old cliché that even the rich and famous "put their pants on one leg at a time?" I've always loved that insight. It gives me a sense of power and freedom and boosts my self-esteem. It gives me a chance to be "just like" my heroes.
This week I read Stephen Ambrose' biography of President Eisenhower. Obviously, "Ike," was one of the great heroes of World War II and arguably one of our better presidents. But he wasn't "brilliant" in terms of IQ. He was in the middle of his class ("average") at West Point, and no one saw him as a unique talent. Ambrose makes the comment that if one fortuitous promotion that sent him to work in Washington had gone differently, "the world would never have heard of Col. Eisenhower." How true! And, in a wonderful way, how inspiring!
Eisenhower did have three great gifts, but they were "ordinary" gifts that you and I can learn and apply in our lives.
First, he worked very, very hard. He was up early, stayed late, immersed himself in each task until it was done right and on time. His "genius" was the "ordinary genius" of dedication, duty and discipline. I may not be able to copy that exactly, but I can certainly learn from it. I can do my best and appreciate the results of "out working the competition."
The second of Eisenhower's great skills was his ability to focus on things that mattered! Many of us work hard. In fact, I often argue that many of us work too hard because our time, our energy and our focus is on things that don't really matter. We "sweat the small stuff." Ike never did that. Even his critics acknowledged his gift for calmly assessing a situation and spotting the "leverage point" that would make all the difference.
Here's an example. For six months before D-Day, June 6th 1944, he made a point to meet with his chief meteorologist every single day. He knew that guns and ships and strategy were all important, but ultimately the invasion would depend on the weather and he wanted to assess the skills of his chief forecaster. In the end, on a stormy night with rain pelting against the windows, he made the decision to "go" because he trusted his weatherman. He knew he would get a 6-hour window of clearing weather and that was all he needed. The course of the war changed over-night because Ike focused on the weather and knew his meteorologists could be trusted.
Finally, Eisenhower insisted on choosing the right people and relying on them. He frequently refused to work with people if they were unreliable or ineffective. He wanted the best people around him. Notably, after giving the order to "go" on June 5th, Ike went to bed. There was literally nothing more for him to do! All the orders, all the staff work, all the plans were in capable hands and his work (for the moment) was done. He didn't try to do it all himself. He chose good people, delegated responsibility and trusted that the right things would be done, in the right way, at the right time.
For me, there is great hope in this! Eisenhower wasn't some unique genius beyond my ability to comprehend. To the contrary, much of his achievement came from knowing three basic skills that I (or anyone) can learn. He worked hard. He could identify the key leverage points. He chose to work and associate with the best people he could find, and he trusted them. I can do this, and so can you.
Quotes of the Week
"It only takes one person to change your life - you." -- Ruth Casey
"God gives talent, work transforms talent into genius." -- Anna Pavlova
"Change cannot be avoided... change provides the opportunity for innovation. It gives you the chance to demonstrate your creativity." -- Felice Jones
"Live with intention. Walk to the edge. Listen hard. Practice wellness. Play with abandon. Laugh. Choose with no regret. Do what you love. Live as if this is all there is." -- Mary Anne Roadacher-Hershey
This week I read Stephen Ambrose' biography of President Eisenhower. Obviously, "Ike," was one of the great heroes of World War II and arguably one of our better presidents. But he wasn't "brilliant" in terms of IQ. He was in the middle of his class ("average") at West Point, and no one saw him as a unique talent. Ambrose makes the comment that if one fortuitous promotion that sent him to work in Washington had gone differently, "the world would never have heard of Col. Eisenhower." How true! And, in a wonderful way, how inspiring!
Eisenhower did have three great gifts, but they were "ordinary" gifts that you and I can learn and apply in our lives.
First, he worked very, very hard. He was up early, stayed late, immersed himself in each task until it was done right and on time. His "genius" was the "ordinary genius" of dedication, duty and discipline. I may not be able to copy that exactly, but I can certainly learn from it. I can do my best and appreciate the results of "out working the competition."
The second of Eisenhower's great skills was his ability to focus on things that mattered! Many of us work hard. In fact, I often argue that many of us work too hard because our time, our energy and our focus is on things that don't really matter. We "sweat the small stuff." Ike never did that. Even his critics acknowledged his gift for calmly assessing a situation and spotting the "leverage point" that would make all the difference.
Here's an example. For six months before D-Day, June 6th 1944, he made a point to meet with his chief meteorologist every single day. He knew that guns and ships and strategy were all important, but ultimately the invasion would depend on the weather and he wanted to assess the skills of his chief forecaster. In the end, on a stormy night with rain pelting against the windows, he made the decision to "go" because he trusted his weatherman. He knew he would get a 6-hour window of clearing weather and that was all he needed. The course of the war changed over-night because Ike focused on the weather and knew his meteorologists could be trusted.
Finally, Eisenhower insisted on choosing the right people and relying on them. He frequently refused to work with people if they were unreliable or ineffective. He wanted the best people around him. Notably, after giving the order to "go" on June 5th, Ike went to bed. There was literally nothing more for him to do! All the orders, all the staff work, all the plans were in capable hands and his work (for the moment) was done. He didn't try to do it all himself. He chose good people, delegated responsibility and trusted that the right things would be done, in the right way, at the right time.
For me, there is great hope in this! Eisenhower wasn't some unique genius beyond my ability to comprehend. To the contrary, much of his achievement came from knowing three basic skills that I (or anyone) can learn. He worked hard. He could identify the key leverage points. He chose to work and associate with the best people he could find, and he trusted them. I can do this, and so can you.
Quotes of the Week
"It only takes one person to change your life - you." -- Ruth Casey
"God gives talent, work transforms talent into genius." -- Anna Pavlova
"Change cannot be avoided... change provides the opportunity for innovation. It gives you the chance to demonstrate your creativity." -- Felice Jones
"Live with intention. Walk to the edge. Listen hard. Practice wellness. Play with abandon. Laugh. Choose with no regret. Do what you love. Live as if this is all there is." -- Mary Anne Roadacher-Hershey
Monday, September 22, 2008
HOW TO ASK FOR ANYTHING YOU WANT
One of life's fundamental truths states: Ask and you shall receive. Isn't that simple? Of course it is. The world responds to those who ask. Most people in this world, however, find themselves in settled lives, never really achieving or receiving what they hold in their dreams... because they just never ask.
There are many good reasons to ask, and the rewards are substantial. If you're not moving closer to what you really want, you probably aren't doing enough asking.
Reasons Why We Don't Ask
So, why do people stumble when they have an opportunity to ask? Five reasons, really:
Ignorance. Many of us don't know what to ask for. Either we don't know what is available to us because we have never been exposed to it, or we are so out of touch with ourselves that we no longer are able to perceive our real needs and wants. And, in many cases, we don't know who to ask, when to ask, or even HOW to ask.
Limiting and Inaccurate Beliefs.
Since our childhood, we've been programmed by our parents, and through schooling, religious training and even the media to STOP asking.
Fear. Having learned all about rejection, embarrassment, vulnerability and hurt in our childhood and early adult years, we find it easier to settle for less than deal with the fear that's resulted from these past experiences.
Low Self-Esteem. Most of us feel unworthy or too inadequate to create the kind of life we want. As a result, we don't believe our needs and wants are worth pursuing.
Pride. Many of us are convinced we need to do everything for ourselves, or we'll look foolish or lose respect among our family and peers.
Take Control!
The truth is, when you take control of your life by asking for what you want and need, you can accomplish anything your heart desires. No doubt, you know of people who seem to walk into any situation and any relationship expecting success. They achieve success again and again because they've learned - and acted on - one simple truth: You will reach your goals only with the help of others.
What are common characteristics shared between people who've mastered the art of asking?
They know what they want. They are clear about their vision, purpose and goals.
They believe that what they're asking for is very possible.
They are passionate about what they are requesting.
They act even when they're afraid or feel fear.
They learn from experience so that they become better "askers" with every ask.
They are persistent. If at first they don't receive, they ask, ask, ask until they do.
You can turn your life around, regardless of the obstacles you currently face. Get clear. Get passionate. Take a giant step past that fear. And if at first you don't succeed, take this minor setback as a signal to you . . . to ask again!
There are many good reasons to ask, and the rewards are substantial. If you're not moving closer to what you really want, you probably aren't doing enough asking.
Reasons Why We Don't Ask
So, why do people stumble when they have an opportunity to ask? Five reasons, really:
Ignorance. Many of us don't know what to ask for. Either we don't know what is available to us because we have never been exposed to it, or we are so out of touch with ourselves that we no longer are able to perceive our real needs and wants. And, in many cases, we don't know who to ask, when to ask, or even HOW to ask.
Limiting and Inaccurate Beliefs.
Since our childhood, we've been programmed by our parents, and through schooling, religious training and even the media to STOP asking.
Fear. Having learned all about rejection, embarrassment, vulnerability and hurt in our childhood and early adult years, we find it easier to settle for less than deal with the fear that's resulted from these past experiences.
Low Self-Esteem. Most of us feel unworthy or too inadequate to create the kind of life we want. As a result, we don't believe our needs and wants are worth pursuing.
Pride. Many of us are convinced we need to do everything for ourselves, or we'll look foolish or lose respect among our family and peers.
Take Control!
The truth is, when you take control of your life by asking for what you want and need, you can accomplish anything your heart desires. No doubt, you know of people who seem to walk into any situation and any relationship expecting success. They achieve success again and again because they've learned - and acted on - one simple truth: You will reach your goals only with the help of others.
What are common characteristics shared between people who've mastered the art of asking?
They know what they want. They are clear about their vision, purpose and goals.
They believe that what they're asking for is very possible.
They are passionate about what they are requesting.
They act even when they're afraid or feel fear.
They learn from experience so that they become better "askers" with every ask.
They are persistent. If at first they don't receive, they ask, ask, ask until they do.
You can turn your life around, regardless of the obstacles you currently face. Get clear. Get passionate. Take a giant step past that fear. And if at first you don't succeed, take this minor setback as a signal to you . . . to ask again!
Friday, September 19, 2008
5 TIPS FOR DEVELOPING POLICIES FOR YOUR BUSINESS
5 Tips for Developing Policies for Your Business
-Think ahead. Establish policies before you need them. Doing so helps avert crises and awkward situations, and helps solve problems before they arise.
-Determine what policies you need. Some you’ll want early in your business include a mission statement, as well as compensation, performance evaluation and employee policies.
-Get input from key employees, as well as from members of your advisory board, your board of directors, and/or your professional advisors and consultants.
-Communicate policies to everyone in your business.
-Review policies on a regular basis—once a year, for example—and revise them as necessary.
5 Tips for Effective Business Planning
-Clearly define your business idea and be able to succinctly articulate it. Know your mission.
-Examine your motives. Make sure that you have a passion for owning a business and for this particular business.
-Be willing to commit to the hours, discipline, continuous learning and the frustrations of owning your own business.
-Conduct a competitive analysis in your market, including products, prices, promotions, advertising, distribution, quality, service, and be aware of the outside influences that affect your business.
-Seek help from other small businesses, vendors, professionals, government agencies, employees, trade associations and trade shows. Be alert, ask questions, and visit your local SCORE office.
5 Tips for Making the Most of Your Business Plan
-Take the long view and do long-term planning. Map out where you want to be five years from now and how you plan to get there.
-Write the plan yourself. You will learn more about your business by doing so.
-Think of your plan as a living document. Review it regularly to make sure you are on track or to adjust it to market changes.
-Share the plan with others who can help you get where you want to go—such as lenders, key employees and advisors.
-Understand that you might pay a price in the short run to obtain long-term business growth and health
5 Tips for Using Colleges and Universities to Help Your Business
-Volunteer your company to be a business school case study. You’ll learn much about your company in the process and get good ideas for the future.Obtain management and technical assistance from one of more than 50 Small Business Development Centers.
-Check the U.SC#. Small Business Administration web site at for locations.
-Participate in special programs. Many colleges and universities sponsor venture capital forums, entrepreneurship centers and family business programs.
-Work with the business school to offer internships to graduate students.
-Find out what expertise is on a business school’s staff. You may find just the right person to hire as a consultant or serve on your board.
5 Tips on Budgeting
-Think of a budget as a useful tool—a written financial plan that helps you set goals and measure progress.
-Start by coming up with a sales revenue target. Make it your best estimate.
-Based on past experience, estimate your cost of goods sold (e.g., 70 percent of sales) and subtract it from the sales revenue to come up with your estimated gross margin.
-Forecast variable expenses (items such as travel and commissions that vary according to the level of sales) and fixed expenses (items like taxes and rent that stay the same, regardless of sales). Subtract these expenses from your gross margin to arrive at your estimated net income (before federal taxes).
-Break your annual budget into quarters and monitor your progress every three months to detect problems and make corrections.
-Think ahead. Establish policies before you need them. Doing so helps avert crises and awkward situations, and helps solve problems before they arise.
-Determine what policies you need. Some you’ll want early in your business include a mission statement, as well as compensation, performance evaluation and employee policies.
-Get input from key employees, as well as from members of your advisory board, your board of directors, and/or your professional advisors and consultants.
-Communicate policies to everyone in your business.
-Review policies on a regular basis—once a year, for example—and revise them as necessary.
5 Tips for Effective Business Planning
-Clearly define your business idea and be able to succinctly articulate it. Know your mission.
-Examine your motives. Make sure that you have a passion for owning a business and for this particular business.
-Be willing to commit to the hours, discipline, continuous learning and the frustrations of owning your own business.
-Conduct a competitive analysis in your market, including products, prices, promotions, advertising, distribution, quality, service, and be aware of the outside influences that affect your business.
-Seek help from other small businesses, vendors, professionals, government agencies, employees, trade associations and trade shows. Be alert, ask questions, and visit your local SCORE office.
5 Tips for Making the Most of Your Business Plan
-Take the long view and do long-term planning. Map out where you want to be five years from now and how you plan to get there.
-Write the plan yourself. You will learn more about your business by doing so.
-Think of your plan as a living document. Review it regularly to make sure you are on track or to adjust it to market changes.
-Share the plan with others who can help you get where you want to go—such as lenders, key employees and advisors.
-Understand that you might pay a price in the short run to obtain long-term business growth and health
5 Tips for Using Colleges and Universities to Help Your Business
-Volunteer your company to be a business school case study. You’ll learn much about your company in the process and get good ideas for the future.Obtain management and technical assistance from one of more than 50 Small Business Development Centers.
-Check the U.SC#. Small Business Administration web site at for locations.
-Participate in special programs. Many colleges and universities sponsor venture capital forums, entrepreneurship centers and family business programs.
-Work with the business school to offer internships to graduate students.
-Find out what expertise is on a business school’s staff. You may find just the right person to hire as a consultant or serve on your board.
5 Tips on Budgeting
-Think of a budget as a useful tool—a written financial plan that helps you set goals and measure progress.
-Start by coming up with a sales revenue target. Make it your best estimate.
-Based on past experience, estimate your cost of goods sold (e.g., 70 percent of sales) and subtract it from the sales revenue to come up with your estimated gross margin.
-Forecast variable expenses (items such as travel and commissions that vary according to the level of sales) and fixed expenses (items like taxes and rent that stay the same, regardless of sales). Subtract these expenses from your gross margin to arrive at your estimated net income (before federal taxes).
-Break your annual budget into quarters and monitor your progress every three months to detect problems and make corrections.
Wednesday, September 17, 2008
TIME MANAGEMENT
Here is a question for you. How do we control our time?The number one tip I would give would be to get yourself to the point where you know what the most important things are to you, those that when done will move you on toward your goal. And so much so that it becomes second nature to you so that when it comes time to make a decision as to what you will do or how you will spend your time, you will make the right choice.
You see time management really isn't time management per se. It is ultimately self-management as we relate to our priorities.
So I would encourage you to take time on a regular basis and examine all of the options available to you for you to spend your time on. You can do this as you look at your whole life or as you look at a segment of your life.
Once you see what your options are, then make a priority list. What things are the most important? And let me say "most important," not "most enjoyable." As you do this, you see where you must spend your time.
You see time management really isn't time management per se. It is ultimately self-management as we relate to our priorities.
So I would encourage you to take time on a regular basis and examine all of the options available to you for you to spend your time on. You can do this as you look at your whole life or as you look at a segment of your life.
Once you see what your options are, then make a priority list. What things are the most important? And let me say "most important," not "most enjoyable." As you do this, you see where you must spend your time.
Monday, September 15, 2008
THE GOOD LIFE
I'm convinced that Thoreau was at least partially right when he noted that "most people live lives of quiet desperation." Personally, I'm amazed at how many people fail to enjoy life as much as they easily could. For me the key to that sentence is "easily could." The "Good Life" is personal and different for each of us. For some it's great wealth and private jets, while for others it's art and poetry, and few need acres of Montana solitude. For me, a dog takes care of maybe 30% of the problem just by laying at my feet. Your "Good Life" is a very personal thing and it's up to you to figure out what it looks like, and how to achieve it. Having said that, I'm convinced that most of us could live much richer, more satisfying and more fulfilling lives than we do. Fortunately, it's not difficult. Sure, achieving many of our "big goals" is hard. Some goals require years of effort, superior organization and an element of luck, but most goals are not nearly so hard. In fact, many of the desires and longings my clients and friends talk about could easily be achieved in a few weeks, or sooner. Many could be achieved before you go to bed tonight.
Let's think about this. If you want more "peace of mind," a basic question is, Do you meditate, pray or journal every day? If you want more time as a family, or more time for yourself, how will you adjust your schedule? Want more money in the bank? What are you doing to make that happen? If you want to be healthier, thinner or have more energy, what time are you going to the gym and what's on the menu for dinner? These are not trick questions! Huge elements of the "Good Life" are within your reach!
Here are some of my thoughts on the "Good Life" and enriching our daily experience:
1. Clarity and Choice. Some of us are running faster in hopes of slowing down. To me, that makes no sense. Let's face it, some things in life come at a price. You can have just about anything you want in life, but you probably cannot have everything you want. We must choose! Time as a family may "cost" us time at work. Savings will "cost" you some pleasures or purchases. What does your Good Life look like? Think about it. Ponder. Take notes. Make choices.
2. Simple Strategies and Easy Discipline. Saving money requires discipline. Closeness as a couple requires time and communication and a host of other skills. It doesn't "just happen." Building a business means doing many things when they need to be done, not "when we feel like it." Whatever your Good Life looks like, design a strategy or plan, then work your plan. There's no other way.Here's a simple example. We have a nine week-old puppy in the house. He's cute and cuddly and wonderful. The temptation is to let him play and romp and "just be a puppy." But if we do that he will never be able to travel or to meet our friends. We won't even be able to trust him at the beach. Unless we limit his choices and teach him to get along in this world, his life will be a series of annoyed jerks on his leash and someday, something bad will happen. I don't intend to let that happen. So we discipline him. Hopefully, I learn from that and also discipline myself, make smart choices and follow reasonable plans to create the life I want.
How about you? What simple steps would make your life dramatically better this week? Most of us are sleep-deprived. If that's a problem in your world, what time do you go to bed? Many of us are not achieving the financial results we would like. If that's true for you, who could teach you to make more? Many of us are not as happy or having as much fun as we would like. If that's a problem in your world, take steps to fix it! You deserve the Good Life.
Quotes of the Week
"Better than a thousand useless words is one single word that gives peace." -- Buddha
"How wonderful it is that nobody need wait a single moment to improve the world." -- Anne Frank
"I long to accomplish a great and noble task, but it is my chief duty to accomplish small tasks, as if they were great and noble." -- Helen Keller
"Somewhere along the line we discover who we really are, and then make our real decisions for which we are responsible. Make that decision primarily for yourself because you can never really live anyone else's life." -- Eleanor Roosevelt
Let's think about this. If you want more "peace of mind," a basic question is, Do you meditate, pray or journal every day? If you want more time as a family, or more time for yourself, how will you adjust your schedule? Want more money in the bank? What are you doing to make that happen? If you want to be healthier, thinner or have more energy, what time are you going to the gym and what's on the menu for dinner? These are not trick questions! Huge elements of the "Good Life" are within your reach!
Here are some of my thoughts on the "Good Life" and enriching our daily experience:
1. Clarity and Choice. Some of us are running faster in hopes of slowing down. To me, that makes no sense. Let's face it, some things in life come at a price. You can have just about anything you want in life, but you probably cannot have everything you want. We must choose! Time as a family may "cost" us time at work. Savings will "cost" you some pleasures or purchases. What does your Good Life look like? Think about it. Ponder. Take notes. Make choices.
2. Simple Strategies and Easy Discipline. Saving money requires discipline. Closeness as a couple requires time and communication and a host of other skills. It doesn't "just happen." Building a business means doing many things when they need to be done, not "when we feel like it." Whatever your Good Life looks like, design a strategy or plan, then work your plan. There's no other way.Here's a simple example. We have a nine week-old puppy in the house. He's cute and cuddly and wonderful. The temptation is to let him play and romp and "just be a puppy." But if we do that he will never be able to travel or to meet our friends. We won't even be able to trust him at the beach. Unless we limit his choices and teach him to get along in this world, his life will be a series of annoyed jerks on his leash and someday, something bad will happen. I don't intend to let that happen. So we discipline him. Hopefully, I learn from that and also discipline myself, make smart choices and follow reasonable plans to create the life I want.
How about you? What simple steps would make your life dramatically better this week? Most of us are sleep-deprived. If that's a problem in your world, what time do you go to bed? Many of us are not achieving the financial results we would like. If that's true for you, who could teach you to make more? Many of us are not as happy or having as much fun as we would like. If that's a problem in your world, take steps to fix it! You deserve the Good Life.
Quotes of the Week
"Better than a thousand useless words is one single word that gives peace." -- Buddha
"How wonderful it is that nobody need wait a single moment to improve the world." -- Anne Frank
"I long to accomplish a great and noble task, but it is my chief duty to accomplish small tasks, as if they were great and noble." -- Helen Keller
"Somewhere along the line we discover who we really are, and then make our real decisions for which we are responsible. Make that decision primarily for yourself because you can never really live anyone else's life." -- Eleanor Roosevelt
Thursday, September 11, 2008
INVESTMENT BOOK REVIEWS: HAVE YOU BEEN BRAINWASHED?
Most popular investment books are published for the already rich and famous, by an industry that has become just too good at the business of selling books. Rarely will a publisher take a chance with the work of an unknown author. Certainly, it's a no brainer to sell a Jim Cramer, Peter Lynch, Robert Kiyosaki, or Maria Bartiromo effort while a uniquely new approach to solving the puzzles of Wall Street, presented by an unknown writer or commentator, requires some major financial risk. Big publishers want to sell already big names; discovering new ones is not in their wheelhouse. Are they responsible for the problems in the financial markets? Of course not, but they do have a perverse, if indirect, impact. By constantly publishing the same Wall Street friendly message, they contribute to the brainwashing.Without a wider distribution of new ideas based on old wisdom, Wall Street as usual remains Wall Street as usual and the average investor remains uninformed and ill advised about the dangers of the financial markets. The biggest investment mistake generators are cleverly ignored by most of the books I've read about investing--- even compounded.The new generation focus on calendar year instead of the market cycle performance; the worship of portfolio market value alone, for all securities, even those purchased solely for income production; the use of gimmicks and products instead of securities for portfolio development; the acceptance of speculations as acceptable, "alternative" investments.Appreciating the differences between investing and speculating, and learning what to expect from your securities in cyclical markets are things that investors must learn about. Have you been brainwashed? These 15 Amazon.com members are learning to think outside the Wall Street box, without any help (or investment) from publishers:
1) Super Investing Book: I've read a bunch of books on investing and money management, and this is the best, BY FAR!!!!! It's so good, and refreshing, that I've read it twice. (R. Q. A., Bryan, Texas)
2) Back to Basics: This is an eye-opening and intelligent book, which at once offers an analysis of the investment industry and a practical guide for non-professional investors--- a clear set of economic principles mixed with clear commonsensical advice. The author--- describes how to benefit from the ups and downs. Great book. (Professor P. W., Jerusalem, Israel)
3) The Best Investment Book I Have Ever Read: For skittish investors such as me, [the] unique Working Capital Model reduces the emotional factor by taking the emphasis off market value and focusing on growth of working capital. I implemented and followed the trading strategy myself. You would do well to buy this book and read it two or three times. It will save you [from] a lifetime of mistakes that come from following conventional wisdom. (D. J. F., Peoria, IL)
4) Easy to Understand, Even for Non-Investors: This book seems to be much easier to understand than the stock market trading systems advertised on TV. (P. L., Manchester, CT)
5) Happy User: You can take this system to heart--- and to the bank. It works for me. (L. J., Phoenix, AZ)
6) Unique Advice that Stands Out From the Crowd: This is one of two [books] that stand out. Besides being written in an entertaining and irreverent style, it has immensely practical advice. Focus on making money on the market's inherent volatility vs. trying to guess what's next. Saves a lot of time and appears to work. (C. M. Rakes, Annandale, VA)
7) An Enlightened Self-Managed Investor: Not only did I identify many many mistakes that I had made thru the years, but the logical approach outlined [in the book] has to make sense to anybody who has tried to get meaningful portfolio guidelines for future investments tailored to individual needs. Great Book! (A. C., West Palm Beach, FL)
8) Right on the Money: I didn't want to put the book down until I was through. [The] trading strategy is refreshing information that should make a lot of people a lot of money with less risk. (D. M., SC)
9) Investing Made Successful: I heard [the Author] on a talk-radio program and was intrigued by the premise of the book. After reading it, I'm convinced. I'm migrating from mutual funds to individual, high quality equities. [The book] was a slap in the face to make me stop my destructive investing habits. (G. P., Colorado Springs, CO)
10) What a Great Read: This is really an incredible book--- [it] has incorporated very creative insight with some highly original thinking to produce one of the best "investing manuals" ever written. I wholeheartedly endorse this book! ("Jointhefreedom" , NM)
11) Courage To Go Against the Pack: The [book] is written in an exciting, enthusiastic, fast moving, style that reads like a novel. Should I ever venture into the stock market, it will be with this book. (S. M., Virginia Beach, VA)
12) L-O-N-G Overdue Investment Strategy Advice: I've long been skeptical of the generic advice handed down to me by advisors over the past--- I don't know any wealthy people who do this. Well now I have a frame of reference for my doubts about the system and a simple plan to take control of my investments. (B. S., Vancouver, BC, Canada)
13) A Must Read To Save Your Money From the Sharks: Written in a conversational style with plenty of humor, this book gives you the questions and answers you need to keep and increase monies that are being put away for retirement. I have purchased three books already and am purchasing five more to give to friends and relatives--- (R. M., San Jose, CA)
14) Brainwashing of the American Investor: Finally the truth! What an eye-opener to see how the markets, and the people behind the markets, have manipulated the average investor over the years. I highly recommend [this] book for your next financial read. (A. J. L., Ft. Pierce, FL)15) Profit Like a Trader; Sleep Like an Investor: The technique or strategy presented is almost a "why didn't I think of that?" The idea is to run your portfolio the same way you would run a business---not a get-rich-quick kind of plan. You just focus on the essential measures of quality. The key is to maintain your plan during the slow times and reign in your greed during the boom times. (P. G., Moon Township, PA)
Please forgive the blatant self-promotion, a statement about the no-risk attitude of the publishing industry today. Unknown authors just have to take things into their own hands to get their titles out there. Small publishers can't afford to promote new authors on a grand scale and some choose not to deal with the full-return guarantee demands of the bookstores.
1) Super Investing Book: I've read a bunch of books on investing and money management, and this is the best, BY FAR!!!!! It's so good, and refreshing, that I've read it twice. (R. Q. A., Bryan, Texas)
2) Back to Basics: This is an eye-opening and intelligent book, which at once offers an analysis of the investment industry and a practical guide for non-professional investors--- a clear set of economic principles mixed with clear commonsensical advice. The author--- describes how to benefit from the ups and downs. Great book. (Professor P. W., Jerusalem, Israel)
3) The Best Investment Book I Have Ever Read: For skittish investors such as me, [the] unique Working Capital Model reduces the emotional factor by taking the emphasis off market value and focusing on growth of working capital. I implemented and followed the trading strategy myself. You would do well to buy this book and read it two or three times. It will save you [from] a lifetime of mistakes that come from following conventional wisdom. (D. J. F., Peoria, IL)
4) Easy to Understand, Even for Non-Investors: This book seems to be much easier to understand than the stock market trading systems advertised on TV. (P. L., Manchester, CT)
5) Happy User: You can take this system to heart--- and to the bank. It works for me. (L. J., Phoenix, AZ)
6) Unique Advice that Stands Out From the Crowd: This is one of two [books] that stand out. Besides being written in an entertaining and irreverent style, it has immensely practical advice. Focus on making money on the market's inherent volatility vs. trying to guess what's next. Saves a lot of time and appears to work. (C. M. Rakes, Annandale, VA)
7) An Enlightened Self-Managed Investor: Not only did I identify many many mistakes that I had made thru the years, but the logical approach outlined [in the book] has to make sense to anybody who has tried to get meaningful portfolio guidelines for future investments tailored to individual needs. Great Book! (A. C., West Palm Beach, FL)
8) Right on the Money: I didn't want to put the book down until I was through. [The] trading strategy is refreshing information that should make a lot of people a lot of money with less risk. (D. M., SC)
9) Investing Made Successful: I heard [the Author] on a talk-radio program and was intrigued by the premise of the book. After reading it, I'm convinced. I'm migrating from mutual funds to individual, high quality equities. [The book] was a slap in the face to make me stop my destructive investing habits. (G. P., Colorado Springs, CO)
10) What a Great Read: This is really an incredible book--- [it] has incorporated very creative insight with some highly original thinking to produce one of the best "investing manuals" ever written. I wholeheartedly endorse this book! ("Jointhefreedom" , NM)
11) Courage To Go Against the Pack: The [book] is written in an exciting, enthusiastic, fast moving, style that reads like a novel. Should I ever venture into the stock market, it will be with this book. (S. M., Virginia Beach, VA)
12) L-O-N-G Overdue Investment Strategy Advice: I've long been skeptical of the generic advice handed down to me by advisors over the past--- I don't know any wealthy people who do this. Well now I have a frame of reference for my doubts about the system and a simple plan to take control of my investments. (B. S., Vancouver, BC, Canada)
13) A Must Read To Save Your Money From the Sharks: Written in a conversational style with plenty of humor, this book gives you the questions and answers you need to keep and increase monies that are being put away for retirement. I have purchased three books already and am purchasing five more to give to friends and relatives--- (R. M., San Jose, CA)
14) Brainwashing of the American Investor: Finally the truth! What an eye-opener to see how the markets, and the people behind the markets, have manipulated the average investor over the years. I highly recommend [this] book for your next financial read. (A. J. L., Ft. Pierce, FL)15) Profit Like a Trader; Sleep Like an Investor: The technique or strategy presented is almost a "why didn't I think of that?" The idea is to run your portfolio the same way you would run a business---not a get-rich-quick kind of plan. You just focus on the essential measures of quality. The key is to maintain your plan during the slow times and reign in your greed during the boom times. (P. G., Moon Township, PA)
Please forgive the blatant self-promotion, a statement about the no-risk attitude of the publishing industry today. Unknown authors just have to take things into their own hands to get their titles out there. Small publishers can't afford to promote new authors on a grand scale and some choose not to deal with the full-return guarantee demands of the bookstores.
Monday, September 8, 2008
10 THINGS I WISH I WOULD HAVE KNOWN BEFORE I WENT INTO THE REAL WORLD
I must confess, I laughed when I saw that Maria Shriver has come out with a book called, “Ten Things I Wish I Had Known Before Going Into The Real World.” The real world? Come on, she grew up a Kennedy and married the biggest action movie star of all time! That aside, it got me to thinking: What are ten things I wish I would have known before going out into the real world? So, here they are…
Life isn’t fair. You know, your mother always told you this but as kids we never believe it. We think that somehow mom was two tacos short of a combo plate and that eventually we will go into the real world and show her how those who work hard and do right always do come out on top. Then after about five years we become disenchanted and start to smell the coffee. Life isn’t fair! Why didn’t anybody tell me that? I guess they did, didn’t they? Unfortunately, sometimes the bad guys wins. Sometimes people die early. We shouldn’t take this lightly, but we must be realists. While we accept what comes our way, we still strive to work hard, dream big, and do right.
People play favorites. It is true that it isn’t what you know but who you know that counts. This is because people play favorites. Sometimes it doesn’t matter that you are the best person or have the lowest bid. People will regularly cut deals with people they like or who can scratch their back in return. I guess the lesson to learn is that while we strive to achieve much and have excellent skills, we should also develop a strong network of healthy relationships.
People will let you down. Being a person who does what he says can be a blessing and a curse. It is a blessing because I am able to look at myself in the mirror each day. It is a curse because if you are like that, you will most likely expect that from others and yet they will regularly let you down. People can be bad at keeping their word or doing what is right. I could have relieved a lot of emotional stress if I would have known this one before getting out into the real world.
Not everybody wants to grow personally. I just assumed that everybody loved to learn and to grow. I thought everybody wanted to get better at what they did. The reality is, however, that most people do not. That is why there is something that we call “average.” Most people want to stay where they are. That is why they do. Those who strive to go forward will always be cutting against the grain and will often be resented, even if quietly, for it.
The stock market goes down sometimes. Some of you older folks knew this. But us young whippersnappers, we have been riding it high on the hog for a while. This is good in a sense, but unless you have some common sense of how financial markets work, you can get quite a shock from time to time. You see, before you get into the real world, everything gets handed to you and you really don’t have to work for much. Then you do and you think that every investment will turn out grand – whoops!
The older you get, the harder it is to lose weight. I was always a little “pudgy.” Nothing big, just not like the cover guys of Men’s Health Magazine (You know, the ones that say “Six-pack abs in 20 minutes a day.” I think that means they only eat twenty minutes a day, and it is usually stewed vegetables! But I digress…). If I would have known better, I would have worked harder when I was younger to keep the weight off so I wouldn’t have to work that much harder now!
Marriage is work. A good marriage is more work. When you are young you think, “I’ll find the girl of my dreams and we’ll live happily ever after.” Well, hello! You forget that your spouse is human and you are too, most of the time! To live under the same roof with someone and to work out likes and dislikes, personalities, and schedules, not to mention life goals and the like is HARD WORK! Not drudgery, just work. Yes, there will be plenty of bliss and joy, but marriage will make you work for it!
It takes longer to get out of debt than to get into it. I have never really had much debt. I did take out student loans to pay for school and wow, do they take a long time to get out of. Fortunately I have them paid off but for a while there, it was one of the big checks we wrote every month. Many people think credit cards are great because they can have what they want when they want it. Too bad they don’t realize that twenty minutes of shopping ecstasy will result in months or years of payments.
It doesn’t work to try to please others. I have always wanted people to like me. Many times, I wanted them to like me too much. That isn’t good. This doesn’t work because I realized that most of the time, people liking or disliking you has nothing to do whatsoever with rational thought. Some people will dislike you, no matter how well you have done, and others will love you, warts and all. So I do my best and let the chips fall where they may – now.
You need to tend to your spiritual, emotional, and physical health or you will crash hard. If you don’t take time for yourself, both inwardly and outwardly, your body will catch up with you. You can take time for yourself by choice or not. It is much more fun by choice! Life is hard and it can and will weigh you down. We need to tend the fires of spirit and mind while keeping our physical bodies tuned for success as well. If not, our bodies break down.
Bonus: In spite of the above, life is very much worth it! Some of the above may seem like bummers. They aren’t the “positive” things we like to focus on, but they are true. Being positive doesn’t mean sticking your head in the ground in order to avoid the negative of life. What it means is that we are realists who understand the negative aspects of life and choose to be optimists instead. We deal with the negative and pursue the positive. That is why I can say that life is worth living no matter how expensive or painful the lessons I have had to learn have been. Life is good and I can make it better!
So I had to learn some lessons AFTER I got into the real world. So what? At least I learned them and can live the rest of my life to the fullest from now on! I hope you can too!
Life isn’t fair. You know, your mother always told you this but as kids we never believe it. We think that somehow mom was two tacos short of a combo plate and that eventually we will go into the real world and show her how those who work hard and do right always do come out on top. Then after about five years we become disenchanted and start to smell the coffee. Life isn’t fair! Why didn’t anybody tell me that? I guess they did, didn’t they? Unfortunately, sometimes the bad guys wins. Sometimes people die early. We shouldn’t take this lightly, but we must be realists. While we accept what comes our way, we still strive to work hard, dream big, and do right.
People play favorites. It is true that it isn’t what you know but who you know that counts. This is because people play favorites. Sometimes it doesn’t matter that you are the best person or have the lowest bid. People will regularly cut deals with people they like or who can scratch their back in return. I guess the lesson to learn is that while we strive to achieve much and have excellent skills, we should also develop a strong network of healthy relationships.
People will let you down. Being a person who does what he says can be a blessing and a curse. It is a blessing because I am able to look at myself in the mirror each day. It is a curse because if you are like that, you will most likely expect that from others and yet they will regularly let you down. People can be bad at keeping their word or doing what is right. I could have relieved a lot of emotional stress if I would have known this one before getting out into the real world.
Not everybody wants to grow personally. I just assumed that everybody loved to learn and to grow. I thought everybody wanted to get better at what they did. The reality is, however, that most people do not. That is why there is something that we call “average.” Most people want to stay where they are. That is why they do. Those who strive to go forward will always be cutting against the grain and will often be resented, even if quietly, for it.
The stock market goes down sometimes. Some of you older folks knew this. But us young whippersnappers, we have been riding it high on the hog for a while. This is good in a sense, but unless you have some common sense of how financial markets work, you can get quite a shock from time to time. You see, before you get into the real world, everything gets handed to you and you really don’t have to work for much. Then you do and you think that every investment will turn out grand – whoops!
The older you get, the harder it is to lose weight. I was always a little “pudgy.” Nothing big, just not like the cover guys of Men’s Health Magazine (You know, the ones that say “Six-pack abs in 20 minutes a day.” I think that means they only eat twenty minutes a day, and it is usually stewed vegetables! But I digress…). If I would have known better, I would have worked harder when I was younger to keep the weight off so I wouldn’t have to work that much harder now!
Marriage is work. A good marriage is more work. When you are young you think, “I’ll find the girl of my dreams and we’ll live happily ever after.” Well, hello! You forget that your spouse is human and you are too, most of the time! To live under the same roof with someone and to work out likes and dislikes, personalities, and schedules, not to mention life goals and the like is HARD WORK! Not drudgery, just work. Yes, there will be plenty of bliss and joy, but marriage will make you work for it!
It takes longer to get out of debt than to get into it. I have never really had much debt. I did take out student loans to pay for school and wow, do they take a long time to get out of. Fortunately I have them paid off but for a while there, it was one of the big checks we wrote every month. Many people think credit cards are great because they can have what they want when they want it. Too bad they don’t realize that twenty minutes of shopping ecstasy will result in months or years of payments.
It doesn’t work to try to please others. I have always wanted people to like me. Many times, I wanted them to like me too much. That isn’t good. This doesn’t work because I realized that most of the time, people liking or disliking you has nothing to do whatsoever with rational thought. Some people will dislike you, no matter how well you have done, and others will love you, warts and all. So I do my best and let the chips fall where they may – now.
You need to tend to your spiritual, emotional, and physical health or you will crash hard. If you don’t take time for yourself, both inwardly and outwardly, your body will catch up with you. You can take time for yourself by choice or not. It is much more fun by choice! Life is hard and it can and will weigh you down. We need to tend the fires of spirit and mind while keeping our physical bodies tuned for success as well. If not, our bodies break down.
Bonus: In spite of the above, life is very much worth it! Some of the above may seem like bummers. They aren’t the “positive” things we like to focus on, but they are true. Being positive doesn’t mean sticking your head in the ground in order to avoid the negative of life. What it means is that we are realists who understand the negative aspects of life and choose to be optimists instead. We deal with the negative and pursue the positive. That is why I can say that life is worth living no matter how expensive or painful the lessons I have had to learn have been. Life is good and I can make it better!
So I had to learn some lessons AFTER I got into the real world. So what? At least I learned them and can live the rest of my life to the fullest from now on! I hope you can too!
Friday, September 5, 2008
WHY GET RICH WHEN YOU CAN BE WEALTHY?
"Any fool can rich, the wise get wealthy." Chris Widener
Getting rich is the main goal for a lot of people. That is unfortunate however, because there is something so much greater than simply the accumulation of money. Now don’t get me wrong – I am not saying people shouldn’t have large sums of money. In fact, I believe greatly in the power of money for good when in the hands of the right people. I think money is simply a tool that people can use to do great things – or bad things.
What is unfortunate is that so many people give up so much else in life in order to get those large sums of money. First of all, let me explain my quote about rich fools. Just turn on the TV or read a popular magazine and you will find lots of rich fools. You will see people with tons of money but who have no happiness, have drug problems and who leave behind them a string of broken relationships. These people are rich, not wealthy.
Rich people are people with lots of money. Wealthy people are people who are rich in life. This would include financial stability and freedom, but goes deeper into spiritual health, emotional and relational health, and of course physical health.
I think getting rich is easy. It is simply a discipline that anyone can do if they so choose. There are many examples of people who have made very little money who have left vast fortunes. Spend less than you earn, save more than you spend. Put what you spend into an interest bearing investment. Do this over a long period of time and you will get rich.
Wealthy? That is something altogether different. I have found that in most cases you must give up some wealth to get the riches. I know many rich people and very few of them are people who I would call wealthy. Most of them sacrificed their families, their health or their relationships as they pursued the accumulation of riches. The fact is that it takes time to make money. And every moment of time you spend in the pursuit of money is a moment of time taken from something else that would make you wealthy in life.
So let me ask you: Are you on the fast track toward riches? Or are you on the long-track toward true wealth?
Are you being wise with your finances so as to secure long-term financial stability and independence? I hope so, because that is certainly a part of being wealthy.
Are you investing in those closest to you? I hope so! The fact is that when you lay on your deathbed, it won’t matter how much money you have. The grim reaper doesn’t need any more money and so he can’t be bought with yours! The only thing that will matter are those faces that surround you, the looks of love they give you, and the memories you have of good times spent with them.
Are you taking good care of yourself physically? I hope so because if you don’t, you won’t get the mileage out of it that you were intended too! Physical health is part of being wealthy!
Are you taking care of your spiritual life? I hope so because I don’t think there are any more important questions we can answer than those who’s answers will play themselves out for eternity. In my mind, spiritual questions make all the others seem like child’s play. Are you taking good care of yourself emotionally? I hope so because it is your internal state that will give you the energy you are looking for to live long and the peace to enjoy that life of yours.
All in all, I have decided that I don’t want to stoop to being rich. That is too low of a goal for me. I want to be wealthy – financially yes, but not to the exclusion of my body, soul and spirit. Not to the exclusion of deep and meaningful relationships with my friends and family. How about you? Will you be rich or wealthy?
Getting rich is the main goal for a lot of people. That is unfortunate however, because there is something so much greater than simply the accumulation of money. Now don’t get me wrong – I am not saying people shouldn’t have large sums of money. In fact, I believe greatly in the power of money for good when in the hands of the right people. I think money is simply a tool that people can use to do great things – or bad things.
What is unfortunate is that so many people give up so much else in life in order to get those large sums of money. First of all, let me explain my quote about rich fools. Just turn on the TV or read a popular magazine and you will find lots of rich fools. You will see people with tons of money but who have no happiness, have drug problems and who leave behind them a string of broken relationships. These people are rich, not wealthy.
Rich people are people with lots of money. Wealthy people are people who are rich in life. This would include financial stability and freedom, but goes deeper into spiritual health, emotional and relational health, and of course physical health.
I think getting rich is easy. It is simply a discipline that anyone can do if they so choose. There are many examples of people who have made very little money who have left vast fortunes. Spend less than you earn, save more than you spend. Put what you spend into an interest bearing investment. Do this over a long period of time and you will get rich.
Wealthy? That is something altogether different. I have found that in most cases you must give up some wealth to get the riches. I know many rich people and very few of them are people who I would call wealthy. Most of them sacrificed their families, their health or their relationships as they pursued the accumulation of riches. The fact is that it takes time to make money. And every moment of time you spend in the pursuit of money is a moment of time taken from something else that would make you wealthy in life.
So let me ask you: Are you on the fast track toward riches? Or are you on the long-track toward true wealth?
Are you being wise with your finances so as to secure long-term financial stability and independence? I hope so, because that is certainly a part of being wealthy.
Are you investing in those closest to you? I hope so! The fact is that when you lay on your deathbed, it won’t matter how much money you have. The grim reaper doesn’t need any more money and so he can’t be bought with yours! The only thing that will matter are those faces that surround you, the looks of love they give you, and the memories you have of good times spent with them.
Are you taking good care of yourself physically? I hope so because if you don’t, you won’t get the mileage out of it that you were intended too! Physical health is part of being wealthy!
Are you taking care of your spiritual life? I hope so because I don’t think there are any more important questions we can answer than those who’s answers will play themselves out for eternity. In my mind, spiritual questions make all the others seem like child’s play. Are you taking good care of yourself emotionally? I hope so because it is your internal state that will give you the energy you are looking for to live long and the peace to enjoy that life of yours.
All in all, I have decided that I don’t want to stoop to being rich. That is too low of a goal for me. I want to be wealthy – financially yes, but not to the exclusion of my body, soul and spirit. Not to the exclusion of deep and meaningful relationships with my friends and family. How about you? Will you be rich or wealthy?
Wednesday, September 3, 2008
RELATIONSHIPS ARE EVERYTHING
Your Foundation for Success
Relationship Selling is the core of all modern selling strategies. Your ability to develop and maintain long-term customer relationships is the foundation for your success as a salesperson and your success in business. Relationship selling requires a clear understanding of the dynamics of the selling process as they are experienced by your customer.
Propose a Business Marriage
For your customer, a buying decision usually means a decision to enter into a long-term relationship with you and your company. It is very much like a "business marriage." Before the customer decides to buy, he can take you or leave you. He doesn't need you or your company. He has a variety of options and choices open to him, including not buying anything at all. But when your customer makes a decision to buy from you and gives you money for the product or service you are selling, he becomes dependent on you. And since he has probably had bad buying experiences in the past, he is very uneasy and uncertain about getting into this kind of dependency relationship.
Fulfill Your Promises
What if you let the customer down? What if your product does not work as you promised? What if you don't service it and support it as you promised? What if it breaks down and he can't get it replaced? What if the product or service is completely inappropriate for his needs? These are real dilemmas that go through the mind of every customer when it comes time to make the critical buying decision.
Focus on the Relationship
Because of the complexity of most products and services today, especially high-tech products, the relationship is actually more important than the product. The customer doesn't know the ingredients or components of your product, or how your company functions, or how he will be treated after he has given you his money, but he can make an assessment about you and about the relationship that has developed between the two of you over the course of the selling process. So in reality, the customer's decision is based on the fact that he has come to trust you and believe in what you say.
Build a Solid Trust Bond
In many cases, the quality of your relationship with the customer is the competitive advantage that enables you to edge out others who may have similar products and services. The quality of the trust bond that exists between you and your customers can be so strong that no other competitor can get between you.
Keep Your Customers for Life
The single biggest mistake that causes salespeople to lose customers is taking those customers for granted. This is a form of "customer entropy." It is when the salesperson relaxes his efforts and begins to ignore the customer. Almost 70 percent of customers who walked away from their existing suppliers later replied that they made the change primarily because of a lack of attention from the company.Once you have invested the time and made the efforts necessary to build a high-quality, trust-based relationship with your customer, you must maintain that relationship for the life of your business. You must never take it for granted.
Action Exercises
First, focus on building a high quality relationship with each customer by treating your customer so well that he comes back, buys again and refers you to his friends.Second, pay attention to your existing customers. Tell them you appreciate them. Look for ways to thank them and encourage them to come back and do business with you again.
"Learn how to build loyal customers who buy from you over and over - and tell their friends!"A satisfied customer is 10x easier to sell to than a new customer. A referral from a satisfied customer is 15x easier to sell to than a cold call. Now you can develop a customer service strategy that will get people to buy from you over and over again, increasing your sales, income and profitability.
Customers for Life
The highest paid salespeople and the most profitable companies have the best reputation for customer service. You learn a series of low-cost, no-cost ways to get customers to buy from you, buy again, and tell their friends.
Relationship Selling is the core of all modern selling strategies. Your ability to develop and maintain long-term customer relationships is the foundation for your success as a salesperson and your success in business. Relationship selling requires a clear understanding of the dynamics of the selling process as they are experienced by your customer.
Propose a Business Marriage
For your customer, a buying decision usually means a decision to enter into a long-term relationship with you and your company. It is very much like a "business marriage." Before the customer decides to buy, he can take you or leave you. He doesn't need you or your company. He has a variety of options and choices open to him, including not buying anything at all. But when your customer makes a decision to buy from you and gives you money for the product or service you are selling, he becomes dependent on you. And since he has probably had bad buying experiences in the past, he is very uneasy and uncertain about getting into this kind of dependency relationship.
Fulfill Your Promises
What if you let the customer down? What if your product does not work as you promised? What if you don't service it and support it as you promised? What if it breaks down and he can't get it replaced? What if the product or service is completely inappropriate for his needs? These are real dilemmas that go through the mind of every customer when it comes time to make the critical buying decision.
Focus on the Relationship
Because of the complexity of most products and services today, especially high-tech products, the relationship is actually more important than the product. The customer doesn't know the ingredients or components of your product, or how your company functions, or how he will be treated after he has given you his money, but he can make an assessment about you and about the relationship that has developed between the two of you over the course of the selling process. So in reality, the customer's decision is based on the fact that he has come to trust you and believe in what you say.
Build a Solid Trust Bond
In many cases, the quality of your relationship with the customer is the competitive advantage that enables you to edge out others who may have similar products and services. The quality of the trust bond that exists between you and your customers can be so strong that no other competitor can get between you.
Keep Your Customers for Life
The single biggest mistake that causes salespeople to lose customers is taking those customers for granted. This is a form of "customer entropy." It is when the salesperson relaxes his efforts and begins to ignore the customer. Almost 70 percent of customers who walked away from their existing suppliers later replied that they made the change primarily because of a lack of attention from the company.Once you have invested the time and made the efforts necessary to build a high-quality, trust-based relationship with your customer, you must maintain that relationship for the life of your business. You must never take it for granted.
Action Exercises
First, focus on building a high quality relationship with each customer by treating your customer so well that he comes back, buys again and refers you to his friends.Second, pay attention to your existing customers. Tell them you appreciate them. Look for ways to thank them and encourage them to come back and do business with you again.
"Learn how to build loyal customers who buy from you over and over - and tell their friends!"A satisfied customer is 10x easier to sell to than a new customer. A referral from a satisfied customer is 15x easier to sell to than a cold call. Now you can develop a customer service strategy that will get people to buy from you over and over again, increasing your sales, income and profitability.
Customers for Life
The highest paid salespeople and the most profitable companies have the best reputation for customer service. You learn a series of low-cost, no-cost ways to get customers to buy from you, buy again, and tell their friends.
Monday, September 1, 2008
STARTING AND MANAGING BUSINESS FROM YOUR HOME
"There's No Place Like Home "The cottage industry, an old-fashionedenterprise, is enjoying a revival so strong that it's difficult tofind out just how many Nigerians are now working at home. Because women now enter business at a rate faster than men, the trendof operating from home is growing. A natural starting place for manybusinesses seems to be the garage, basement, or anywhere in thecompound. Homemakers, hobbyists, retirees, people interested in a second income,and the disabled are just a few of the groups attracted to homeenterprises. A young mother once told me her craft business beganwhen she started applying decorations on her children's clothes. A retired civil servant bought 36 beehives and sold honey to localfood stores and individuals. A teacher did typing and secretarialjobs for her husband and friends untilshe realized the potential market and opened a full-time secretarialservice from her apartment. Others have become home business owners byusing their skills in catering, counseling, teaching, day care,sewing, writing, photography, consulting, market research, andlandscape design.The list of services that have been successfully operated from home isendless: maid services, home nursing, party planning, dog grooming,and others too numerous to mention. Let your thoughts run freelythrough the possibilities until you can target exactly the right typeof business for your skills, your home space, your market, and yourpart of the country.
Home Entrepreneurship: Is It For You?
The first step in deciding whether to start a business is to askyourself this important question: "Do I have what it takes to be anentrepreneur? " Studying the characteristics of successful businessowners will help you to tell whether your personality traits,experiences, and values are similar to those who have succeeded. Andassessing your experience, skills, and life goals will also help youdecide if you want to invest the energy, time, and resources thatsuccessful entrepreneurship requires.
Who is the "Typical" Entrepreneur?
What makes an entrepreneur successful is a hotly debated andvigorously researched subject. The following questions will help youdetermine your "Entrepreneurial Quotient." Write down your answers,please be sincere with yourself.
Do you reconcile your bank account as soon as the monthly statementcomes in or can you start doing it? Entrepreneurs are careful aboutmoney. They usually know how much money they have so they can seizeopportunities on short notice. They know what things cost, whetherprices are going up or down, and whether they are getting a bargain. Did you earn money on your own from some source other than your familybefore you were 15 years old? Most people who are going to make moneyin business show an affinity for making money at an early age—by helping in familybusiness after school hours, selling or delivering newspapers, or somesuch strategy.
Do you get up early in the morning and find yourself at work beforeothers are out of bed? Entrepreneurs sleep and eat enough to keep uptheir strength, but they don't usually tarry at these pursuits.Do you tend to trust your hunches rather than wait until you have alot of information on hand? Hunches are judgments based on factorsthat cannot be quantified; a big part of entrepreneurship seems to berisk-taking based on these hunches.
Do you remember people's names and faces well? Ease in rememberingnames and faces is very important in the business world.What were your favorite subjects when you were in school?Entrepreneurs seem to prefer subjects in which the answers areconclusive rather than open-ended conclusions full of contingencies.In school, did you usually stay away from student organizations andstudent union government? Most entrepreneurs tend to be loners ratherthan joiners, unless joining is a useful tactic for making contactsand gathering business information.In courting the opposite sex, did you tend to go for one person at atime as opposed to playing the field? Most entrepreneurs preferred oneperson because to play the field would have taken too much time awayfrom business activities. I can recollect vividly, I couldn't copewith more than one at a time!!!Could your deals be bonded by your words? Or must there be writtencontracts and guarantees?Good entrepreneurs can be trusted with something less binding thanwritten contracts. When the only bond is a word, it becomes a matterof honor, and no good entrepreneur can afford to lose honor.
Do you devote considerably more time and thought to work than to otheractivities, such as hobbies? Entrepreneurs may have some leisure timeactivities, but their principal hobby is their work.Answering these questions will provide reality testing for your ideas. What resources are available to you? Will you start by keeping yourjob and going part-time for a while? Do you have a small nest egg,inheritance, or retirement income to live on until you get thebusiness going? Do you already own tools or machines that will help(for instance, professional cameras for a commercial photographybusiness)? Are you able to go back to school for training ifnecessary? Have you built up a network of contacts and possiblecustomers through your previous lines of work or will you be startingfrom scratch?
Answering these questions honestly and completely will help you assessnot only your chances for success but also which type of home-basedbusiness to choose. For instance, if your past professional life andcontacts are all in the educational, teaching, child-oriented schoolarea, then you should have powerful reasons for leaving that andopening an oil and gas consulting business. Possibly a tutoringbusiness would use more of your resources and networks. On the otherhand, if your assessment of your life goals and preferences helps yourealize that you are burned out from working with kids, then perhaps abusiness planning birthday parties could later be built into a generalparty planning and catering business. You would be using your oldcontacts to build a long-range business plan that focuses on a servicebusiness for adults.
Home Entrepreneurship: Is It For You?
The first step in deciding whether to start a business is to askyourself this important question: "Do I have what it takes to be anentrepreneur? " Studying the characteristics of successful businessowners will help you to tell whether your personality traits,experiences, and values are similar to those who have succeeded. Andassessing your experience, skills, and life goals will also help youdecide if you want to invest the energy, time, and resources thatsuccessful entrepreneurship requires.
Who is the "Typical" Entrepreneur?
What makes an entrepreneur successful is a hotly debated andvigorously researched subject. The following questions will help youdetermine your "Entrepreneurial Quotient." Write down your answers,please be sincere with yourself.
Do you reconcile your bank account as soon as the monthly statementcomes in or can you start doing it? Entrepreneurs are careful aboutmoney. They usually know how much money they have so they can seizeopportunities on short notice. They know what things cost, whetherprices are going up or down, and whether they are getting a bargain. Did you earn money on your own from some source other than your familybefore you were 15 years old? Most people who are going to make moneyin business show an affinity for making money at an early age—by helping in familybusiness after school hours, selling or delivering newspapers, or somesuch strategy.
Do you get up early in the morning and find yourself at work beforeothers are out of bed? Entrepreneurs sleep and eat enough to keep uptheir strength, but they don't usually tarry at these pursuits.Do you tend to trust your hunches rather than wait until you have alot of information on hand? Hunches are judgments based on factorsthat cannot be quantified; a big part of entrepreneurship seems to berisk-taking based on these hunches.
Do you remember people's names and faces well? Ease in rememberingnames and faces is very important in the business world.What were your favorite subjects when you were in school?Entrepreneurs seem to prefer subjects in which the answers areconclusive rather than open-ended conclusions full of contingencies.In school, did you usually stay away from student organizations andstudent union government? Most entrepreneurs tend to be loners ratherthan joiners, unless joining is a useful tactic for making contactsand gathering business information.In courting the opposite sex, did you tend to go for one person at atime as opposed to playing the field? Most entrepreneurs preferred oneperson because to play the field would have taken too much time awayfrom business activities. I can recollect vividly, I couldn't copewith more than one at a time!!!Could your deals be bonded by your words? Or must there be writtencontracts and guarantees?Good entrepreneurs can be trusted with something less binding thanwritten contracts. When the only bond is a word, it becomes a matterof honor, and no good entrepreneur can afford to lose honor.
Do you devote considerably more time and thought to work than to otheractivities, such as hobbies? Entrepreneurs may have some leisure timeactivities, but their principal hobby is their work.Answering these questions will provide reality testing for your ideas. What resources are available to you? Will you start by keeping yourjob and going part-time for a while? Do you have a small nest egg,inheritance, or retirement income to live on until you get thebusiness going? Do you already own tools or machines that will help(for instance, professional cameras for a commercial photographybusiness)? Are you able to go back to school for training ifnecessary? Have you built up a network of contacts and possiblecustomers through your previous lines of work or will you be startingfrom scratch?
Answering these questions honestly and completely will help you assessnot only your chances for success but also which type of home-basedbusiness to choose. For instance, if your past professional life andcontacts are all in the educational, teaching, child-oriented schoolarea, then you should have powerful reasons for leaving that andopening an oil and gas consulting business. Possibly a tutoringbusiness would use more of your resources and networks. On the otherhand, if your assessment of your life goals and preferences helps yourealize that you are burned out from working with kids, then perhaps abusiness planning birthday parties could later be built into a generalparty planning and catering business. You would be using your oldcontacts to build a long-range business plan that focuses on a servicebusiness for adults.
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