Do you know people who seem to be busy all the time but never seem to get anything done?
I run into them quite frequently as I work with management teams, and I can usually give you the reason in one word: FOCUS.
These people don't have it. For such a short word, focus packs real power.
Steam rising from a boiling pot is unfocused, and fades into the atmosphere. Steam surging through a turbine is focused: It will generate electricity and propel locomotives.
Light from an ordinary flame is unfocused and flickers impotently. A laser beam is highly focused light, and it will cut steel.
These two illustrations make a powerful point: If you aren't focused and if your business isn't focused, your efforts are going to diffuse into nothing. To make a difference, you have to become focused.
Unfocused executives look at potential customers and say "Whatever they need, we can do." They don't pick their opportunities, but follow every road that opens up. They see their companies absorbing massive amounts of capital and human energy without increasing productivity or building up appreciable equity.
They may be fairly successful, but they wonder whether they're living up to their full potential. They frequently wish they were doing something else, and promise themselves that some day it will be different.
They stay busy most of the time doing things that seem urgent, but at the end of the day they feel as though they've accomplished little. They find it hard to explain to others -- clearly, concisely and persuasively -- exactly what they and their companies do.
They may have good products or services, but they haven't found ways to turn them into integrated systems that can bring large contracts or bigger deals. If you see yourself in two or more of those descriptions, your lack of focus may be costing you a great deal personally, professionally and financially.
We all need to achieve focus in a number of areas of our lives. Here are some of those areas:
Personal Identity
Who are you as a person? Take a few moments and write an answer to that question in 25 words or less. Don't use your name, address, profession, age, gender, educational credentials, marital or family status, possessions, religious affiliation or nationality.
These questions can help you focus your personal identity:
1. What do you value most?
2. What one thing do you worry about most?
3. What one thing do you talk about most?
4. Which of your talents have you developed most fully and relied on most often?
5. What kind of challenge do you find most appealing?
6. What one thing have you done in your life that you have been most proud of?
7. What one thing have you done in your life that you would most like to do differently?
8. What are three important ingredients of your personal identity?
Professional Purpose
The most critical ingredient to success in any venture is a clear picture of what you are trying to achieve. Describe, in 12 words or less, exactly what you do. These questions can help you focus your professional purpose:
1. What is the guiding or controlling idea in your life?
2. What is your strategy for implementing that idea?
3. How would your staff describe your professional purpose?
4. What are your three greatest strengths and what are you doing to capitalize on them?
Your Career Vision
Do you see yourself as an entrepreneur, pursuing success through intelligent risk-taking? Or do you see yourself as a worker, willing to accept a ceiling on success in return for the security of a steady income?
These questions can help you focus on your career vision:
1. How does what you do all day square with the way you see yourself? How does it square with the way you want to be seen by your staff and associates?
2. Which roles do you most consistently play in your company? What is your most vital role? What are your secondary roles? What percentage of your time is spent on each? Which two of your present roles would you rather not be playing? Which roles would you rather be playing instead?
3. What is your career mission and how will you know when you are accomplishing it?
Your Market
My interest in banking has been enhanced over the last decade as a director of BB&T Financial Corporation, a thriving bank holding company with assets of $55 billion. I loved the recently published book, Productive Bankers, Profitable Banks, by my friend, Jan Myers. She compares banking to baseball. What she said about banking can also apply to other businesses:
In baseball, the strike zone differs according to the height of the player. The player with long arms can go for pitches that are out of reach for smaller players. But the smaller players can turn their small stature to an advantage. They can crouch low at the plate, making it hard for the pitcher to hit their strike zones. Banks (and other businesses) need to define their "strike zones." They need to focus on the markets they are best suited to serve.
To focus your market, you need to determine your unique niche in the marketplace. Decide what you do better than anybody else does it.
Then determine who your customers are and what they need. Learn their perceptions of value -- and of you. Remember, in today's marketplace, it's the customer, not the seller, who defines quality in a product or service.
Your Product
Once you really know your customers and their needs, you can offer products and services that capitalize on your differential advantage to meet those needs. After you have achieved focus in these five areas, wonderful things start to happen. For instance:
* You can constantly redirect your time, energy, talents, expertise and money from areas of low yield or no yield to areas of high yield.
* You can systematically develop your most productive strengths and compensate for your most costly weaknesses.
* You can qualify the results you expect and measure your performance hourly, daily, weekly and annually.
* You can identify obstacles and problems and attack them effectively.
* You can identify the most productive ideas and go after the greatest opportunities.
* You can communicate clearly and persuasively with people who can help you achieve your goals.
* You can become competent enough at what you do to approach every opportunity with complete confidence.
* You can have a whole lot more fun at everything you do.
When you're in focus, your life takes on a new clarity. Just as a camera lens focuses light to form a photographic image, so your mind focuses your thoughts, feeling and actions to form a clear picture of who you are and where you're going.
When you're focused, you'll go far.
Friday, July 29, 2011
Wednesday, July 27, 2011
ARE YOU AFRAID OF SUCCESS?
"Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness that most frightens us. We ask ourselves, who am I to be brilliant, gorgeous, talented and fabulous? Actually, who are you not to be? Your playing small doesn't serve the world. There's nothing enlightened about shrinking so that other people won't feel insecure around you. We are meant to shine, as children do....and as we let our own light shine, we unconsciously give other people permission to do the same. As we are liberated from our own fear, our presence automatically liberates others."
- Marianne Williamson from 'A Return to Love'
To be successful: to attain a desired objective
Strange as it may seem, many people do in fact fear being successful and this fear prevents them from striking out and fulfilling their dreams. Fear of success can be just as immobilizing as the fear of failure. Success scares us because very often with success comes additional responsibility or a change in lifestyle, and when you are genuinely creating this change, you are heading into an unknown and maybe an uncertain future. Success can be hard to handle and the added responsibilities can feel threatening or overwhelming.
Because of this, many people prefer to continue with things just as they are rather than experience even the slightest change and the possible discomfort that might result. Change may hurl you into new adventures and endeavors and, more often than not, this means having to move outside your comfort zone and into a situation where you are challenged by new situations and people. For this reason, many people who claim to crave success shy away from it and use multiple strategies to avoid being successful. They create a variety of excuses for not doing their best and falling short of their stated objectives. Success creates expectations. People come to expect more of you and the more successful you are, the more difficult it is to keep up any kind of pretence which might suggest that you are unable to take charge of your life. Dealing with fear of success is all about laying claim to the power that you have within you.
People who fear success often resort to one or maybe more of the following:
They sabotage their chances of success by behaving inappropriately prior to an important event (an interview, a meeting, a presentation). They might drink too much or go to bed late.
They lose the motivation to commit themselves to anyone or anything.
They are reluctant to take on new responsibilities.
They get upset if they feel that they are being criticized in some way.
They feel anxious, even when there is no obvious cause for anxiety.
They tend to be pessimistic.
They put off projects or neglect duties, preferring to deal with non-essentials or trivia.
They talk a lot but take little or no action.
By succumbing to the fear of success, people avoid responsibility and fail to discover what they truly have to offer to those around them or to society as a whole. Self-doubt robs them of being able to take pride in their efforts and achievements. It is good to remember that success has nothing to do with your worth and much more to do with the effort you make. A person who is able to respect himself, his abilities and the efforts he has made should feel rightly proud of his achievements and rewards. A life which does not contain self-respect can feel empty and solitary.
The Job Interview
Alice is a thirty-nine-year old mother of three, who is searching for work. As a single mum, she had always worked outside the home until she was unexpectedly made redundant several months ago. Being made redundant was a huge blow for Alice. It was a great knock to her self esteem. She has been for many job interviews since but with each rejection, she has withdrawn more and more into herself.
Now a curious thing has begun to happen. She has begun to reduce her chances of getting the job she is being interviewed for. She arrives late, is carelessly dressed, her body language shows that she has little interest. What has changed? Previously, she had everything under control and she gave a very confident account of herself in response to the interviewer's questions. Now she is a wreck. She is terrified of being unable to understand the questions because she is up tight and equally terrified that if she does understand she will be unable to answer. During an interview her mind goes blank, her heart races and she is afraid that she is going to vomit.
Could all this be because really she is afraid that if she is successful, she will have to return to work? It has been rather comfortable being at home, answerable only to herself, seeing the children off to school and being at home when they return. Who knows? One thing is for sure, Alice is not the lady she was before and if she allows this state of affairs to continue, things can only get worse. She needs to work for financial reasons and her situation is becoming critical. Her mum has taken up the fight, suggesting to Alice that she is making great efforts to maintain the status quo in her life, that she is purposely sabotaging job prospects in order to stay inside her comfort zone. This naturally makes Alice angry because deep down she knows that it is true. Alice is using a very clever strategy to avoid revealing her fear of speaking up, allowing change to happen and taking on new responsibilities.
Alice is in a dangerous loop now as this fear of speaking in front of others at interview is encroaching upon other areas of her life, and she knows it.
Identifying Fear of Success
Identify the areas in your life where you may be afraid of success. Write them down and then for each situation ask these questions:
What do I think will happen if I achieve success here?
In what ways do I feel I don't deserve success here?
What are my greatest concerns if I should succeed in this area?
How motivated am I to struggle for success in this area?
In what ways do I sabotage success?
There might be profit in being less than successful and failing to make changes. Think about the following in your own case:
What do you manage to avoid by not being successful?
What emotion are you unwilling to release when you block success?
Take Some Action and Reward Yourself
What are you going to do in your life to start moving towards a scenario where you are enjoying being successful? What steps could you take in the coming week? Remember without action nothing changes, so your action steps are obligatory if you want to make change happen. If you have worked through this lesson and carried out some small action steps, you deserve a reward. Think of some way that you can reward yourself for a job well done.
"Come to the edge," he said. They said: "We are afraid." "Come to the edge," he said. They came. He pushed them .... and they flew. - Guillaume Apollinaire
- Marianne Williamson from 'A Return to Love'
To be successful: to attain a desired objective
Strange as it may seem, many people do in fact fear being successful and this fear prevents them from striking out and fulfilling their dreams. Fear of success can be just as immobilizing as the fear of failure. Success scares us because very often with success comes additional responsibility or a change in lifestyle, and when you are genuinely creating this change, you are heading into an unknown and maybe an uncertain future. Success can be hard to handle and the added responsibilities can feel threatening or overwhelming.
Because of this, many people prefer to continue with things just as they are rather than experience even the slightest change and the possible discomfort that might result. Change may hurl you into new adventures and endeavors and, more often than not, this means having to move outside your comfort zone and into a situation where you are challenged by new situations and people. For this reason, many people who claim to crave success shy away from it and use multiple strategies to avoid being successful. They create a variety of excuses for not doing their best and falling short of their stated objectives. Success creates expectations. People come to expect more of you and the more successful you are, the more difficult it is to keep up any kind of pretence which might suggest that you are unable to take charge of your life. Dealing with fear of success is all about laying claim to the power that you have within you.
People who fear success often resort to one or maybe more of the following:
They sabotage their chances of success by behaving inappropriately prior to an important event (an interview, a meeting, a presentation). They might drink too much or go to bed late.
They lose the motivation to commit themselves to anyone or anything.
They are reluctant to take on new responsibilities.
They get upset if they feel that they are being criticized in some way.
They feel anxious, even when there is no obvious cause for anxiety.
They tend to be pessimistic.
They put off projects or neglect duties, preferring to deal with non-essentials or trivia.
They talk a lot but take little or no action.
By succumbing to the fear of success, people avoid responsibility and fail to discover what they truly have to offer to those around them or to society as a whole. Self-doubt robs them of being able to take pride in their efforts and achievements. It is good to remember that success has nothing to do with your worth and much more to do with the effort you make. A person who is able to respect himself, his abilities and the efforts he has made should feel rightly proud of his achievements and rewards. A life which does not contain self-respect can feel empty and solitary.
The Job Interview
Alice is a thirty-nine-year old mother of three, who is searching for work. As a single mum, she had always worked outside the home until she was unexpectedly made redundant several months ago. Being made redundant was a huge blow for Alice. It was a great knock to her self esteem. She has been for many job interviews since but with each rejection, she has withdrawn more and more into herself.
Now a curious thing has begun to happen. She has begun to reduce her chances of getting the job she is being interviewed for. She arrives late, is carelessly dressed, her body language shows that she has little interest. What has changed? Previously, she had everything under control and she gave a very confident account of herself in response to the interviewer's questions. Now she is a wreck. She is terrified of being unable to understand the questions because she is up tight and equally terrified that if she does understand she will be unable to answer. During an interview her mind goes blank, her heart races and she is afraid that she is going to vomit.
Could all this be because really she is afraid that if she is successful, she will have to return to work? It has been rather comfortable being at home, answerable only to herself, seeing the children off to school and being at home when they return. Who knows? One thing is for sure, Alice is not the lady she was before and if she allows this state of affairs to continue, things can only get worse. She needs to work for financial reasons and her situation is becoming critical. Her mum has taken up the fight, suggesting to Alice that she is making great efforts to maintain the status quo in her life, that she is purposely sabotaging job prospects in order to stay inside her comfort zone. This naturally makes Alice angry because deep down she knows that it is true. Alice is using a very clever strategy to avoid revealing her fear of speaking up, allowing change to happen and taking on new responsibilities.
Alice is in a dangerous loop now as this fear of speaking in front of others at interview is encroaching upon other areas of her life, and she knows it.
Identifying Fear of Success
Identify the areas in your life where you may be afraid of success. Write them down and then for each situation ask these questions:
What do I think will happen if I achieve success here?
In what ways do I feel I don't deserve success here?
What are my greatest concerns if I should succeed in this area?
How motivated am I to struggle for success in this area?
In what ways do I sabotage success?
There might be profit in being less than successful and failing to make changes. Think about the following in your own case:
What do you manage to avoid by not being successful?
What emotion are you unwilling to release when you block success?
Take Some Action and Reward Yourself
What are you going to do in your life to start moving towards a scenario where you are enjoying being successful? What steps could you take in the coming week? Remember without action nothing changes, so your action steps are obligatory if you want to make change happen. If you have worked through this lesson and carried out some small action steps, you deserve a reward. Think of some way that you can reward yourself for a job well done.
"Come to the edge," he said. They said: "We are afraid." "Come to the edge," he said. They came. He pushed them .... and they flew. - Guillaume Apollinaire
Monday, July 25, 2011
SUCCESS MEANS LEADERSHIP
Often I work with professionals, or with entrepreneurs
who want coaching to make more sales, or to work more
efficiently, but they aren't interested in the principles
of effective leadership.
What they don't realize is that success in any area requires
the cooperation and participation of other people. Small
businesses need customers. Network organizations require
teamwork, training and motivation. Professionals depend on
the trust and confidence of their clients.
Success is always about leadership!
John Maxwell has written extensively about the techniques of
effective leadership. Three of the most important are:
1. Competence. Successful leaders know their jobs and they
are very, very skilled. Professionals are often insulted to
be told they must get better at what they do but the truth
is that unless you have all the clients you can handle, are
earning all you want, and only working when you choose to,
there are additional skills to master. Leadership is about
unusual competence.
2. Credibility. Successful leaders earn our trust. Every
business decision is, in some measure, about trust. It's
obvious that we must trust our doctors, our lawyers and the
people who teach our children. But we also trust (or don't
trust) the people we do business with every day.
3. Congruence. Leaders "walk their talk," there is a
consistency to who they are, what they do, and how they
treat people. They don't hide behind a professional mask, or
have one set of values at work, and another in their
personal lives. Leaders are consistent and transparent.
To grow your business, think about your leadership skills.
If you lead, your customers, suppliers, employees and
colleagues will follow. Learn (or get coaching) to be a
great leader!
who want coaching to make more sales, or to work more
efficiently, but they aren't interested in the principles
of effective leadership.
What they don't realize is that success in any area requires
the cooperation and participation of other people. Small
businesses need customers. Network organizations require
teamwork, training and motivation. Professionals depend on
the trust and confidence of their clients.
Success is always about leadership!
John Maxwell has written extensively about the techniques of
effective leadership. Three of the most important are:
1. Competence. Successful leaders know their jobs and they
are very, very skilled. Professionals are often insulted to
be told they must get better at what they do but the truth
is that unless you have all the clients you can handle, are
earning all you want, and only working when you choose to,
there are additional skills to master. Leadership is about
unusual competence.
2. Credibility. Successful leaders earn our trust. Every
business decision is, in some measure, about trust. It's
obvious that we must trust our doctors, our lawyers and the
people who teach our children. But we also trust (or don't
trust) the people we do business with every day.
3. Congruence. Leaders "walk their talk," there is a
consistency to who they are, what they do, and how they
treat people. They don't hide behind a professional mask, or
have one set of values at work, and another in their
personal lives. Leaders are consistent and transparent.
To grow your business, think about your leadership skills.
If you lead, your customers, suppliers, employees and
colleagues will follow. Learn (or get coaching) to be a
great leader!
Monday, July 18, 2011
THE LAW OF COMPENSATION
You Get What You Give
Ralph Waldo Emerson, in his essay, "Compensation," wrote that each person is compensated in like manner for that which he or she has contributed. The Law of Compensation is another restatement of the Law of Sowing and Reaping. It says that you will always be compensated for your efforts and for your contribution, whatever it is, however much or however little.
Increase Your Value
This Law of Compensation also says that you can never be compensated in the long term for more than you put in. The income you earn today is your compensation for what you have done in the past. If you want to increase your compensation, you must increase the value of your contribution.
Fill Your Mind With Success
Your mental attitude, your feelings of happiness and satisfaction, are also the result of the things that you have put into your own mind. If you fill your own mind with thoughts, visions and ideas of success, happiness and optimism, you will be compensated by those positive experiences in your daily activities.
Do More Than You're Paid For
Another corollary of the Law of Sowing and Reaping is what is sometimes called the, "Law of Overcompensation." This law says that great success comes from those who always make it a habit to put in more than they take out. They do more than they are paid for. They are always looking for opportunities to exceed expectations. And because they are always overcompensating, they are always being over rewarded with the esteem of their employers and customers and with the financial rewards that go along with their personal success.
Provide the Causes, Enjoy The Effects
One of your main responsibilities in life is to align yourself and your activities with Law of Cause and Effect (and its corollaries), accepting that it is an inexorable law that always works, whether anyone is looking or not. Your job is to institute the causes that are consistent with the effects that you want to enjoy in your life. When you do, you will realize and enjoy the rewards you desire.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, remind yourself regularly that your rewards will always be in direct proportion to your service to others. How could you increase the value of your services to your customers today?
Second, look for ways to go the extra mile, to use the Law of Overcompensation in everything you do. This is the great secret of success.
Ralph Waldo Emerson, in his essay, "Compensation," wrote that each person is compensated in like manner for that which he or she has contributed. The Law of Compensation is another restatement of the Law of Sowing and Reaping. It says that you will always be compensated for your efforts and for your contribution, whatever it is, however much or however little.
Increase Your Value
This Law of Compensation also says that you can never be compensated in the long term for more than you put in. The income you earn today is your compensation for what you have done in the past. If you want to increase your compensation, you must increase the value of your contribution.
Fill Your Mind With Success
Your mental attitude, your feelings of happiness and satisfaction, are also the result of the things that you have put into your own mind. If you fill your own mind with thoughts, visions and ideas of success, happiness and optimism, you will be compensated by those positive experiences in your daily activities.
Do More Than You're Paid For
Another corollary of the Law of Sowing and Reaping is what is sometimes called the, "Law of Overcompensation." This law says that great success comes from those who always make it a habit to put in more than they take out. They do more than they are paid for. They are always looking for opportunities to exceed expectations. And because they are always overcompensating, they are always being over rewarded with the esteem of their employers and customers and with the financial rewards that go along with their personal success.
Provide the Causes, Enjoy The Effects
One of your main responsibilities in life is to align yourself and your activities with Law of Cause and Effect (and its corollaries), accepting that it is an inexorable law that always works, whether anyone is looking or not. Your job is to institute the causes that are consistent with the effects that you want to enjoy in your life. When you do, you will realize and enjoy the rewards you desire.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, remind yourself regularly that your rewards will always be in direct proportion to your service to others. How could you increase the value of your services to your customers today?
Second, look for ways to go the extra mile, to use the Law of Overcompensation in everything you do. This is the great secret of success.
Friday, July 15, 2011
5 TIPS FOR OVERCOMING FEAR AND MAKING THE SALE
What goes through you when your boss or your inner-self says you've got to get to the top decision maker for this deal, contract, renewal or sale? It's probably not great. However, the executive suite is where you have to be to increase your chances of success.
Most sales people quickly boast that they can get to or have "no problem" meeting with the top executives of their prospects or customers. However, when I ask, "What does that leader want from you?" they scramble for an answer. Now if they knew that, it would be great, right!
So if there is no problem getting and meeting these key decision makers, why don't more sales people do it?
1. It's scary. That's why. Yet, it's natural. We fear people in authority positions -- those with power over us. Think of your boss or judges or police or customers. They all put you on guard. As you get to know them, it's less stressful, but the tension is always there.
2. It's a hassle to get to these senior decision makers. They are protected from anyone getting to see them, including their own subordinates (who are also intimidated.)
3. There is a concern of upsetting the manager, engineer or purchasing person you're presently meeting. Many buyers give that impression and the rest of the time you assume it to be true.
4. Add to above past rejections and you begin to act as your own gatekeeper saying (consciously or unconsciously), "Let's stick with the purchasing people collecting the bid information."
No matter what you hear or how you spin it, the big dog makes final decisions for your sales. He is briefed before the purchase because he needs critical information and guarantees before he gives his approval. If he's happy with your proposal, you get the contract. So who better than you to deliver your message?
Here are 5 tips to help you overcome the anxiety and make it easier to push upwards:
1. Admit you feel uneasy. Then you can deal with it.
Otherwise you will subconsciously avoid the challenge and stick with your rationalizations (i.e. "He's too busy" or "She doesn't see sales people.")
Ask yourself, "Why am I anxious?" Maybe it's past associations or a fear of rejection. There's something going on. So keep asking until you find an answer. Eventually you'll realize you're projecting a negative outcome -- that something bad will happen.
The antidote is to accept that you don't know the future or what others are thinking. You won't get rejected.
2. Positively Visualize the Outcome.
The most common technique among all professional golfers is to visualize their shot before they hit. With this positive outcome programmed, their muscles and mind compute the biomechanics to make it happen. Try it. It's easy but it takes effort to do it. See, positive projection takes more energy than negative thinking. It is tougher to think prosperously than subsistence. Consequently we default to the easier path - limiting and worst case thinking. It requires mental effort to turn negative projections around. However, if your projections gravitate towards getting nowhere, you'll get nowhere - guaranteed.
Here's a better way to think. "The meeting will go great. He'll want to introduce me to others because he'll feel good about me and my message."
Before you make any calls, project in your mind that your target will be happy and open to talk with you. Project positive and positive outcomes will start happening. Even if things don't work out, you'll understand the reasons and take comfort that it wasn't about you. This is rewarding feedback to yourself and will encourage you to think positively the next time.
3. Practice Your Introduction.
What will you say? "Hi, my name is Sam and I work with companies such as yours creating sales and improving the productivity of sales teams. Would you answer a few questions?" or for another situation, "John, I understand you are investigating hiring a sales consultant, what are the issues that are causing you to think of hiring someone from the outside?"
When you know what you'll say, it helps you visualize the situation in a positive frame. Your focus is on you and your opening rather than the anxiety of wishing the encounter was over or didn't have to happen.
4. Develop Confidence by Preparing.
Get information about the executive and the company. Talk with people who know the executive and the company. Use your 'Golden Network' -- those people with whom you have credibility. Talk with people in your company and urge them to help you prepare for the meeting or for an effective approach to get credibility. Remember it is OK to ask for help. The more you prepare, the more confident you'll be.
5. Get-Over the Holier than Thou Syndrome
Realize this person is human just like you. You both get up and get dressed and go to work each day. You both have jobs to do. You're both busy, value your time and don't want to waste it. Neither wants to be sold. You both want resources to help you with problems. So disregard the "level to level", "better than you" thinking. Think of how you would you like to be approached and the type of conversation you'd like to have with someone in your position. Chances are you're similar, but be careful with assuming. Let him or her tell you that.
It's mentally tough to set-up meeting with senior executives. However, without their information, you are relying on others to tell you what's happening with your proposals. Subordinates don't want to push their bosses so they ignore you by not returning your calls, or feed you crumbs so you don't feel badly for all your efforts.
Bottom line your sale's decision lies in the executive suite. So set your sights for the top. Get your network to make the introduction for you. Prepare for the meeting and you'll have a wonderful experience -- guaranteed.
Most sales people quickly boast that they can get to or have "no problem" meeting with the top executives of their prospects or customers. However, when I ask, "What does that leader want from you?" they scramble for an answer. Now if they knew that, it would be great, right!
So if there is no problem getting and meeting these key decision makers, why don't more sales people do it?
1. It's scary. That's why. Yet, it's natural. We fear people in authority positions -- those with power over us. Think of your boss or judges or police or customers. They all put you on guard. As you get to know them, it's less stressful, but the tension is always there.
2. It's a hassle to get to these senior decision makers. They are protected from anyone getting to see them, including their own subordinates (who are also intimidated.)
3. There is a concern of upsetting the manager, engineer or purchasing person you're presently meeting. Many buyers give that impression and the rest of the time you assume it to be true.
4. Add to above past rejections and you begin to act as your own gatekeeper saying (consciously or unconsciously), "Let's stick with the purchasing people collecting the bid information."
No matter what you hear or how you spin it, the big dog makes final decisions for your sales. He is briefed before the purchase because he needs critical information and guarantees before he gives his approval. If he's happy with your proposal, you get the contract. So who better than you to deliver your message?
Here are 5 tips to help you overcome the anxiety and make it easier to push upwards:
1. Admit you feel uneasy. Then you can deal with it.
Otherwise you will subconsciously avoid the challenge and stick with your rationalizations (i.e. "He's too busy" or "She doesn't see sales people.")
Ask yourself, "Why am I anxious?" Maybe it's past associations or a fear of rejection. There's something going on. So keep asking until you find an answer. Eventually you'll realize you're projecting a negative outcome -- that something bad will happen.
The antidote is to accept that you don't know the future or what others are thinking. You won't get rejected.
2. Positively Visualize the Outcome.
The most common technique among all professional golfers is to visualize their shot before they hit. With this positive outcome programmed, their muscles and mind compute the biomechanics to make it happen. Try it. It's easy but it takes effort to do it. See, positive projection takes more energy than negative thinking. It is tougher to think prosperously than subsistence. Consequently we default to the easier path - limiting and worst case thinking. It requires mental effort to turn negative projections around. However, if your projections gravitate towards getting nowhere, you'll get nowhere - guaranteed.
Here's a better way to think. "The meeting will go great. He'll want to introduce me to others because he'll feel good about me and my message."
Before you make any calls, project in your mind that your target will be happy and open to talk with you. Project positive and positive outcomes will start happening. Even if things don't work out, you'll understand the reasons and take comfort that it wasn't about you. This is rewarding feedback to yourself and will encourage you to think positively the next time.
3. Practice Your Introduction.
What will you say? "Hi, my name is Sam and I work with companies such as yours creating sales and improving the productivity of sales teams. Would you answer a few questions?" or for another situation, "John, I understand you are investigating hiring a sales consultant, what are the issues that are causing you to think of hiring someone from the outside?"
When you know what you'll say, it helps you visualize the situation in a positive frame. Your focus is on you and your opening rather than the anxiety of wishing the encounter was over or didn't have to happen.
4. Develop Confidence by Preparing.
Get information about the executive and the company. Talk with people who know the executive and the company. Use your 'Golden Network' -- those people with whom you have credibility. Talk with people in your company and urge them to help you prepare for the meeting or for an effective approach to get credibility. Remember it is OK to ask for help. The more you prepare, the more confident you'll be.
5. Get-Over the Holier than Thou Syndrome
Realize this person is human just like you. You both get up and get dressed and go to work each day. You both have jobs to do. You're both busy, value your time and don't want to waste it. Neither wants to be sold. You both want resources to help you with problems. So disregard the "level to level", "better than you" thinking. Think of how you would you like to be approached and the type of conversation you'd like to have with someone in your position. Chances are you're similar, but be careful with assuming. Let him or her tell you that.
It's mentally tough to set-up meeting with senior executives. However, without their information, you are relying on others to tell you what's happening with your proposals. Subordinates don't want to push their bosses so they ignore you by not returning your calls, or feed you crumbs so you don't feel badly for all your efforts.
Bottom line your sale's decision lies in the executive suite. So set your sights for the top. Get your network to make the introduction for you. Prepare for the meeting and you'll have a wonderful experience -- guaranteed.
Wednesday, July 13, 2011
FIRST THING EVERY MORNING
If you had a bank that credited your account each morning with $86,400 - with no balance carried from day to day - what would you do? Well, you do have such a bank...time.
Every morning it credits you with 86,400 seconds. Every night it rules off as "lost" whatever you have failed to use toward good purposes. It carries over no balances and allows no overdrafts.
You can't hoard it, save it, store it, loan it or invest it. You can only use it - time.
Here's a story that drives the point home.
Already own this book?
Review it here!
Arthur Berry was described by Time as "the slickest second-story man in the East," truly one of the most famous jewel thieves of all times. In his years of crime, he committed as many as 150 burglaries and stole jewels valued between $5 and $10 million. He seldom robbed from anyone not listed in the Social Register and often did his work in a tuxedo. On an occasion or two, when caught in the act of a crime by a victim, he charmed his way out of being reported to the police.
Like most people who engage in a life of crime, he was eventually caught, convicted and served 25 years in prison for his crimes. Following his release, he worked as a counterman in a roadside restaurant on the East Coast for $50 a week.
A newspaper reporter found him and interviewed him about his life. After telling about the thrilling episodes of his life he came to the conclusion of the interview saying, "I am not good at morals. But early in my life I was intelligent and clever, and I got along well with people. I think I could have made something of my life, but I didn't. So when you write the story of my life, when you tell people about all the burglaries, don't leave out the biggest one of all... Don't just tell them I robbed Jesse Livermore, the Wall Street baron or the cousin of the king of England. You tell them Arthur Berry robbed Arthur Berry."
Here are six terrific truths about time:
First: Nobody can manage time. But you can manage those things that take up your time.
Second: Time is expensive. As a matter of fact, 80 percent of our day is spent on those things or those people that only bring us two percent of our results.
Third: Time is perishable. It cannot be saved for later use.
Fourth: Time is measurable. Everybody has the same amount of time...pauper or king. It is not how much time you have; it is how much you use.
Fifth: Time is irreplaceable. We never make back time once it is gone.
Sixth: Time is a priority. You have enough time for anything in the world, so long as it ranks high enough among your priorities.
Every morning it credits you with 86,400 seconds. Every night it rules off as "lost" whatever you have failed to use toward good purposes. It carries over no balances and allows no overdrafts.
You can't hoard it, save it, store it, loan it or invest it. You can only use it - time.
Here's a story that drives the point home.
Already own this book?
Review it here!
Arthur Berry was described by Time as "the slickest second-story man in the East," truly one of the most famous jewel thieves of all times. In his years of crime, he committed as many as 150 burglaries and stole jewels valued between $5 and $10 million. He seldom robbed from anyone not listed in the Social Register and often did his work in a tuxedo. On an occasion or two, when caught in the act of a crime by a victim, he charmed his way out of being reported to the police.
Like most people who engage in a life of crime, he was eventually caught, convicted and served 25 years in prison for his crimes. Following his release, he worked as a counterman in a roadside restaurant on the East Coast for $50 a week.
A newspaper reporter found him and interviewed him about his life. After telling about the thrilling episodes of his life he came to the conclusion of the interview saying, "I am not good at morals. But early in my life I was intelligent and clever, and I got along well with people. I think I could have made something of my life, but I didn't. So when you write the story of my life, when you tell people about all the burglaries, don't leave out the biggest one of all... Don't just tell them I robbed Jesse Livermore, the Wall Street baron or the cousin of the king of England. You tell them Arthur Berry robbed Arthur Berry."
Here are six terrific truths about time:
First: Nobody can manage time. But you can manage those things that take up your time.
Second: Time is expensive. As a matter of fact, 80 percent of our day is spent on those things or those people that only bring us two percent of our results.
Third: Time is perishable. It cannot be saved for later use.
Fourth: Time is measurable. Everybody has the same amount of time...pauper or king. It is not how much time you have; it is how much you use.
Fifth: Time is irreplaceable. We never make back time once it is gone.
Sixth: Time is a priority. You have enough time for anything in the world, so long as it ranks high enough among your priorities.
Monday, July 11, 2011
REPLICATE YOURSELF
One of the key distinctions between creating your own job
and building a business, is the ability to have other people
do your work for you. This isn't about "cloning" but about
building a team to run your business, serve your customers
and help you (and themselves) make money.
Most professionals run their "practice" as a small business
for tax and accounting reasons, but in fact they have a job
they created for themselves. They may enjoy not working for
a corporation, but they still have to show up and do their
work every day in order to get paid. If they take a week
off, the income stops.
Fortunately, more and more professionals are training others
to do much of what they used to do themselves. Attorneys use
legal assistants, and physicians and dentists use more (and
more highly trained) assistants all the time. The most
successful sales professional I've coached is a real estate
agent with a personal staff of 4 people who work for her,
not for her broker/employer. In many cases, her staff can
close sales even if she is on vacation, so her commissions
continue even when she's at the beach!
Successful business people learn to delegate. They hire
experts who can strengthen and diversify the office. They
understand that training and leading a team will always be
more profitable than doing it by yourself.
The key to building your business is almost never "doing"
more; it's hiring and supporting great people.
Quotes of the Week
"How we live our days is how we live our lives." -- Annie Dillard
"If you can DREAM it, you can DO it." -- Walt Disney
"Hide not your talents. They for use were made. What's a
sundial in the shade?" -- Ben Franklin
"Most of the shadows of this life are caused by standing on
one's own sunshine." -- Ralph Waldo Emerson
and building a business, is the ability to have other people
do your work for you. This isn't about "cloning" but about
building a team to run your business, serve your customers
and help you (and themselves) make money.
Most professionals run their "practice" as a small business
for tax and accounting reasons, but in fact they have a job
they created for themselves. They may enjoy not working for
a corporation, but they still have to show up and do their
work every day in order to get paid. If they take a week
off, the income stops.
Fortunately, more and more professionals are training others
to do much of what they used to do themselves. Attorneys use
legal assistants, and physicians and dentists use more (and
more highly trained) assistants all the time. The most
successful sales professional I've coached is a real estate
agent with a personal staff of 4 people who work for her,
not for her broker/employer. In many cases, her staff can
close sales even if she is on vacation, so her commissions
continue even when she's at the beach!
Successful business people learn to delegate. They hire
experts who can strengthen and diversify the office. They
understand that training and leading a team will always be
more profitable than doing it by yourself.
The key to building your business is almost never "doing"
more; it's hiring and supporting great people.
Quotes of the Week
"How we live our days is how we live our lives." -- Annie Dillard
"If you can DREAM it, you can DO it." -- Walt Disney
"Hide not your talents. They for use were made. What's a
sundial in the shade?" -- Ben Franklin
"Most of the shadows of this life are caused by standing on
one's own sunshine." -- Ralph Waldo Emerson
Friday, July 8, 2011
BEING YOUR OWN FINANCIAL ADVISOR
For too long, too many people have handed over responsibility for their investment decisions almost entirely to their financial advisors. This is a bad idea. No one is going to manage your own money as well as potentially you could. The way I see it, anything you can do to create a better life for yourself and your dependents is fair game. So, becoming financially literate and reducing any over-dependency on financial advisors is part of this over-arching objective.
Becoming financially literate not only empowers you and your finances but sets a really good, much-needed example for those around you. In my view, "Becoming 100% financially literate" is something that warrants being on everybody's list of top lifetime goals.
No Such Thing as a Free Lunch
Have you ever wondered how your financial advisor was getting paid? You probably had a suspicion some financial institution was greasing his palm. Well, as the saying goes, there really is no such thing as a free lunch. Beneath the pin-striped suit lies the thinly-disguised commissions and fees structure that has rotten the financial services industry to the core.
Even now, with financial institutions heavily regulated and the onus on your financial advisor to disclose to you the commissions and fees they get paid for a transaction, this can still result in you feeling uncomfortable and wary, and leave you with a distinct bad taste in your mouth.
After the recent global financial meltdown there is a huge question mark about the validity, integrity and systemic over-reliance on the financial services industry. Instead of being obligated to put your financial interests ahead of their own and create the best financial plan for you, financial advisors are only required by law not to sell you something that's utterly unsuitable. This combined with the need to make a buck can sometimes mean your best interests aren't always at heart. As this article will show, there has never been a more apt time to become financially literate and undertake the process of becoming your own financial advisor.
Many financial service providers are either focused on a) commissions or b) service fees. In turn they impart some so-so financial advice and deliver middling returns on investment. Commission-based "financial advisors" are working for commissions paid to them by a brokerage firm, mutual fund company, insurance company etc. Fee-based financial advisors are selling their skills and time for hourly or à la carte rate.
Of the two distinct approaches, fee-based financial advice is the lesser of two evils so to speak. However, commissioned-based services may very well be the most suitable for a small investor. This is particularly true in the case of a smaller investment portfolio where less active management is required. In this instance, paying the occasional commission is probably not going to be the ruin of the portfolio's returns over the long-term.
Many financial advisors are now what they call "fee based" (i.e. they earn their crust from both fees paid by you and commissions). True fee-only financial planners are still a rare breed. Regrettably a very high percentage of financial planners are not working for you but are essentially sales people for financial institutions flogging financial products for commission. They consciously or unconsciously will tend to sell you a product that pays them the highest commission. So, oftentimes their agenda and yours are completely different.
One Trick Product Ponies
Oftentimes, the only product(s) a financial advisor understands is the one he/she is selling. An insurance agent will promote insurance products enthusiastically whilst your stockbroker will push individual stocks or a basket of shares. In both instances, neither may be aware of your complete financial situation and hence are incapable of giving you advice. The best use of your money at that moment could be to reduce your debts or build up an emergency fund.
Good financial planning is not so much about trying to beat the market or multiplying your wealth. It's really about making sure your portfolio is well-diversified and that other aspects of your finances - budgets, credit ratings, insurance cover, tax planning, estate planning and retirement accounts - are in the best possible shape. So proper financial planning encompasses more than investments. It should also allow you to protect your assets, minimize your taxes, and take care of your dependents etc., all the while growing your wealth over time.
Your average commission-based financial advisor isn't likely to think about the big financial picture. On the other hand, fee-only financial advisors are likely to be more objective at analyzing entire portfolios.
When to Get Professional Advice
If are you are going to do some DIY financial planning than you will need time, education, experience, objectivity and the inclination to achieve the same level of competence offered by many professionals. To be frank, very few average-joe investors have it in them to become their own financial advisors. They simply aren't that way inclined and are too busy getting on with their day-to-day lives. So, you need to be brutally honest with yourself about the level of financial literacy you have as you create and implement your financial plans. You can't afford to punch above your weight, make costly mistakes and possibly suffer a financial knock-out!
So, whilst I think it's a great idea to strive to become your own financial advisor I do think it's important to point out that I also believe it's crucial to have a team of Grade A financial professionals (financial/tax/legal experts) in place whom you can turn to for critical advice.
There are times that you will need a second, more experienced opinion than your DIY Financial Advisory skills may be capable of. Here are a just a few examples of when it's useful to get professional advice:
1. When you're transitioning from one stage of life into another (getting married, having kids, retiring, getting divorced, etc)
2. Any major financial transaction such as the purchase of a property, buying or selling a business, receiving an inheritance, etc.
3. When you are at a financial impasse or suffering from inertia and unclear about what to do next.
4. When you're looking for the best way to protect your family in the event of an accident, illness or death;
5. In times of huge economic and market change.
Conclusion
To become financially literate will require you to become knowledgeable on the financial requirements/constraints you have and the strategies, tools and techniques you will need to achieve your goals. As you delve into the complexity of DIY financial planning and building wealth, you will quickly realize why it is a full-time occupation for even an average financial planner. The question is whether you want to become an expert or whether you prefer to hand-off this financial responsibility to someone else...someone else that may or may not have your best interest entirely in mind. Either which way, this is a decision not to be taken lightly.
Becoming financially literate not only empowers you and your finances but sets a really good, much-needed example for those around you. In my view, "Becoming 100% financially literate" is something that warrants being on everybody's list of top lifetime goals.
No Such Thing as a Free Lunch
Have you ever wondered how your financial advisor was getting paid? You probably had a suspicion some financial institution was greasing his palm. Well, as the saying goes, there really is no such thing as a free lunch. Beneath the pin-striped suit lies the thinly-disguised commissions and fees structure that has rotten the financial services industry to the core.
Even now, with financial institutions heavily regulated and the onus on your financial advisor to disclose to you the commissions and fees they get paid for a transaction, this can still result in you feeling uncomfortable and wary, and leave you with a distinct bad taste in your mouth.
After the recent global financial meltdown there is a huge question mark about the validity, integrity and systemic over-reliance on the financial services industry. Instead of being obligated to put your financial interests ahead of their own and create the best financial plan for you, financial advisors are only required by law not to sell you something that's utterly unsuitable. This combined with the need to make a buck can sometimes mean your best interests aren't always at heart. As this article will show, there has never been a more apt time to become financially literate and undertake the process of becoming your own financial advisor.
Many financial service providers are either focused on a) commissions or b) service fees. In turn they impart some so-so financial advice and deliver middling returns on investment. Commission-based "financial advisors" are working for commissions paid to them by a brokerage firm, mutual fund company, insurance company etc. Fee-based financial advisors are selling their skills and time for hourly or à la carte rate.
Of the two distinct approaches, fee-based financial advice is the lesser of two evils so to speak. However, commissioned-based services may very well be the most suitable for a small investor. This is particularly true in the case of a smaller investment portfolio where less active management is required. In this instance, paying the occasional commission is probably not going to be the ruin of the portfolio's returns over the long-term.
Many financial advisors are now what they call "fee based" (i.e. they earn their crust from both fees paid by you and commissions). True fee-only financial planners are still a rare breed. Regrettably a very high percentage of financial planners are not working for you but are essentially sales people for financial institutions flogging financial products for commission. They consciously or unconsciously will tend to sell you a product that pays them the highest commission. So, oftentimes their agenda and yours are completely different.
One Trick Product Ponies
Oftentimes, the only product(s) a financial advisor understands is the one he/she is selling. An insurance agent will promote insurance products enthusiastically whilst your stockbroker will push individual stocks or a basket of shares. In both instances, neither may be aware of your complete financial situation and hence are incapable of giving you advice. The best use of your money at that moment could be to reduce your debts or build up an emergency fund.
Good financial planning is not so much about trying to beat the market or multiplying your wealth. It's really about making sure your portfolio is well-diversified and that other aspects of your finances - budgets, credit ratings, insurance cover, tax planning, estate planning and retirement accounts - are in the best possible shape. So proper financial planning encompasses more than investments. It should also allow you to protect your assets, minimize your taxes, and take care of your dependents etc., all the while growing your wealth over time.
Your average commission-based financial advisor isn't likely to think about the big financial picture. On the other hand, fee-only financial advisors are likely to be more objective at analyzing entire portfolios.
When to Get Professional Advice
If are you are going to do some DIY financial planning than you will need time, education, experience, objectivity and the inclination to achieve the same level of competence offered by many professionals. To be frank, very few average-joe investors have it in them to become their own financial advisors. They simply aren't that way inclined and are too busy getting on with their day-to-day lives. So, you need to be brutally honest with yourself about the level of financial literacy you have as you create and implement your financial plans. You can't afford to punch above your weight, make costly mistakes and possibly suffer a financial knock-out!
So, whilst I think it's a great idea to strive to become your own financial advisor I do think it's important to point out that I also believe it's crucial to have a team of Grade A financial professionals (financial/tax/legal experts) in place whom you can turn to for critical advice.
There are times that you will need a second, more experienced opinion than your DIY Financial Advisory skills may be capable of. Here are a just a few examples of when it's useful to get professional advice:
1. When you're transitioning from one stage of life into another (getting married, having kids, retiring, getting divorced, etc)
2. Any major financial transaction such as the purchase of a property, buying or selling a business, receiving an inheritance, etc.
3. When you are at a financial impasse or suffering from inertia and unclear about what to do next.
4. When you're looking for the best way to protect your family in the event of an accident, illness or death;
5. In times of huge economic and market change.
Conclusion
To become financially literate will require you to become knowledgeable on the financial requirements/constraints you have and the strategies, tools and techniques you will need to achieve your goals. As you delve into the complexity of DIY financial planning and building wealth, you will quickly realize why it is a full-time occupation for even an average financial planner. The question is whether you want to become an expert or whether you prefer to hand-off this financial responsibility to someone else...someone else that may or may not have your best interest entirely in mind. Either which way, this is a decision not to be taken lightly.
Thursday, July 7, 2011
10 KEY ELEMENTS OF A STRONG PLAN FORMAT
So you need a marketing plan, but not sure of the right marketing plan format?
First let's understand what a marketing plan is...
A marketing plan is simply a document which explains how your business will approach its target market. It can be as broad as promoting your business to create awareness amongst buyers, or as refined as promoting a specific campaign to launch a new product. Essentially, a marketing plan is about showing what actions you will take as a business to ultimately increase revenue and market share.
You'll often find marketing plans as a section within a company's business plan. But they can be and frequently are standalone documents.
Here are 10 vital elements that need to go in:
1. Marketing Vision: Know your outcome.
What result do you want? Do you want to increase market share? Target a new market segment? Launch a new product?
Your first step is to get clear on the result you want. Make sure it's measurable.
2. Ideal Customer: Define your target buyer and approach them.
You need to define who's going to buy your product or service. Find out what makes them move, and then tailor your marketing efforts accordingly.
3. Your Unique Proposition: Define what sets you apart from your competitors.
What makes your company a better choice for buyers? Why should they buy from you rather than someone else? Focus on your business philosophy towards your target customer rather than the product itself.
4. Innovation: Explain how your product or service is better than the competition.
What does your product or service offer that others don't? Is it faster, better, more accurate? Does it produce better results? Does it make someone look more attractive? More professional? State clearly what makes your product or service more desirable.
5. Lead Generation: Describe how you will create interest in your product or service.
What is your strategy for attracting buyers? How will you find and contact them? How will they find out about you? Your lead generation approach should be clear and measurable. If possible, it should also be based on past experiences.
6. Sales Conversion: Explain how you will convert potential customers into buyers.
What methods will you employ to get people to pay for your product or service? What messages will you express to convince people to spend in your business? Will you hire sales people? Will you create a strong sales pitch or sales letter on your website? What kinds of promos or packages will you offer to buyers to get them to spend more?
Your marketing efforts should be focused on attracting buyers and warming them to your product, service or offer.
Your sales efforts, on the other hand, should be focused on getting the customer to commit to buying your product, service or offer. In cases where the sales process is simple, such as a meal at a restaurant, this simply means ordering food and paying the bill. In more complex cases, such as purchasing expensive equipment or technology, it means gaining commitment from the buyer over several steps, ultimately moving towards making the sale.
Thus, in this element of the marketing plan format, you must state how you will effectively convert potential buyers into actual buyers.
7. Loyalty: Explain why customers will want to come back and continue buying your product or service.
It's just not enough to sell your product or service. Your aim should really be to create a buyer experience that will keep them loyal to your business and come back for more.
There are many methods to create loyalty, but at the core of loyalty is a customer experience that the product or service received exceeds the value which was paid. This could be measured in several ways, for example, product quality, or the quality of service provided by staff.
What you must do is carefully define and design this experience within your marketing plan, and how you will bring it to life.
8. Implementation: Map out your strategy for taking your plan to action.
A strong marketing plan is one which you can put into action relatively quickly. In other words, the key to a sound marketing plan that it's actionable.
Break down each goal into several steps of activity. Explain the result and importance of each activity. Put deadlines - start and finish dates - for each activity, and then identify who will champion each activity to its achievement.
Ideally, each activity should be assigned to people who have the skill, passion and experience in performing that activity effectively. Sometimes, that means hiring outside of the company, such as hiring an advertising agency or law firm.
9. Financials: Project the revenue you will generate through your marketing endeavors and what it will cost to implement.
One of the key elements of the marketing plan format is financial projections. Even if your numbers may not be based on any previous experiences, it's important to forecast the revenue generated and expenses incurred.
10. Measurement: Measure and evaluate the progress and results of your actions.
A marketing plan is only as good as the results it produces. Of course, when we talk about results, the people who implement the plan are the main factor; the plan alone is merely a blueprint document.
That said, to ensure your marketing efforts are being implemented correctly and producing the desired results, you need to have indicators and a way to measure the results of your actions.
Follow these simple steps and you'll have created an outstanding marketing plan in no time!
First let's understand what a marketing plan is...
A marketing plan is simply a document which explains how your business will approach its target market. It can be as broad as promoting your business to create awareness amongst buyers, or as refined as promoting a specific campaign to launch a new product. Essentially, a marketing plan is about showing what actions you will take as a business to ultimately increase revenue and market share.
You'll often find marketing plans as a section within a company's business plan. But they can be and frequently are standalone documents.
Here are 10 vital elements that need to go in:
1. Marketing Vision: Know your outcome.
What result do you want? Do you want to increase market share? Target a new market segment? Launch a new product?
Your first step is to get clear on the result you want. Make sure it's measurable.
2. Ideal Customer: Define your target buyer and approach them.
You need to define who's going to buy your product or service. Find out what makes them move, and then tailor your marketing efforts accordingly.
3. Your Unique Proposition: Define what sets you apart from your competitors.
What makes your company a better choice for buyers? Why should they buy from you rather than someone else? Focus on your business philosophy towards your target customer rather than the product itself.
4. Innovation: Explain how your product or service is better than the competition.
What does your product or service offer that others don't? Is it faster, better, more accurate? Does it produce better results? Does it make someone look more attractive? More professional? State clearly what makes your product or service more desirable.
5. Lead Generation: Describe how you will create interest in your product or service.
What is your strategy for attracting buyers? How will you find and contact them? How will they find out about you? Your lead generation approach should be clear and measurable. If possible, it should also be based on past experiences.
6. Sales Conversion: Explain how you will convert potential customers into buyers.
What methods will you employ to get people to pay for your product or service? What messages will you express to convince people to spend in your business? Will you hire sales people? Will you create a strong sales pitch or sales letter on your website? What kinds of promos or packages will you offer to buyers to get them to spend more?
Your marketing efforts should be focused on attracting buyers and warming them to your product, service or offer.
Your sales efforts, on the other hand, should be focused on getting the customer to commit to buying your product, service or offer. In cases where the sales process is simple, such as a meal at a restaurant, this simply means ordering food and paying the bill. In more complex cases, such as purchasing expensive equipment or technology, it means gaining commitment from the buyer over several steps, ultimately moving towards making the sale.
Thus, in this element of the marketing plan format, you must state how you will effectively convert potential buyers into actual buyers.
7. Loyalty: Explain why customers will want to come back and continue buying your product or service.
It's just not enough to sell your product or service. Your aim should really be to create a buyer experience that will keep them loyal to your business and come back for more.
There are many methods to create loyalty, but at the core of loyalty is a customer experience that the product or service received exceeds the value which was paid. This could be measured in several ways, for example, product quality, or the quality of service provided by staff.
What you must do is carefully define and design this experience within your marketing plan, and how you will bring it to life.
8. Implementation: Map out your strategy for taking your plan to action.
A strong marketing plan is one which you can put into action relatively quickly. In other words, the key to a sound marketing plan that it's actionable.
Break down each goal into several steps of activity. Explain the result and importance of each activity. Put deadlines - start and finish dates - for each activity, and then identify who will champion each activity to its achievement.
Ideally, each activity should be assigned to people who have the skill, passion and experience in performing that activity effectively. Sometimes, that means hiring outside of the company, such as hiring an advertising agency or law firm.
9. Financials: Project the revenue you will generate through your marketing endeavors and what it will cost to implement.
One of the key elements of the marketing plan format is financial projections. Even if your numbers may not be based on any previous experiences, it's important to forecast the revenue generated and expenses incurred.
10. Measurement: Measure and evaluate the progress and results of your actions.
A marketing plan is only as good as the results it produces. Of course, when we talk about results, the people who implement the plan are the main factor; the plan alone is merely a blueprint document.
That said, to ensure your marketing efforts are being implemented correctly and producing the desired results, you need to have indicators and a way to measure the results of your actions.
Follow these simple steps and you'll have created an outstanding marketing plan in no time!
Monday, July 4, 2011
THE STORY OF OUR LIFE TIME
An unemployed man goes to apply for a job with Microsoft as
a janitor. The manager arranges for him to take an aptitude
test. After the test, the manager says, "You will be
employed just above minimum wage, $10.15 an hour. Let me
have your e-mail address, so that I can send you a form to
complete and tell you where to report for work on your first
day."
Taken aback, the man protests that he has neither a computer
nor an e-mail address. To this the MS manager replies,
"Well, then, that means that you virtually don't exist and
can therefore hardly expect to be employed."
Stunned, the man leaves. Not knowing where to turn and
having only $10 in his wallet, he decides to buy a flat of
tomatoes at the supermarket. In less than two hours, he
sells all the tomatoes individually at 100 percent profit.
Repeating the process several times more that day, he ends
up with almost $100 before going to sleep that night.
And thus it dawns on him that he could quite easily make a
living selling tomatoes. Getting up early every day and
going to bed late, he multiplies his profits quickly. After
a short time he acquires a cart to transport several dozen
boxes of tomatoes, only to have to trade it in so that he
can buy a small truck to support his growing business. By
the end of the second year, he is the owner of a fleet of
trucks and manages a staff of 100 formerly unemployed
people, all selling tomatoes.
Planning for the future of his wife and children, he decides
to buy life insurance. Consulting an insurance adviser, he
picks a plan to fit his new circumstances. At the end of the
conversation, the adviser asks him for his e-mail address in
order to send the final documents electronically. When the
man replies that he has no e-mail, the adviser is stunned,
"You don't have e-mail? How on earth have you managed to
amass such wealth without the Internet, e-mail, and e-
commerce? Just imagine where you would be now, if you were
connected to the Internet from the very start!"
After a moment of thought, the tomato millionaire replied,
"Why, of course! I would be a janitor at Microsoft!"
Moral of this story:
1. The Internet, e-mail, and e-commerce do not need to rule
your life.
2. If you don't have e-mail, but work hard, you can still
become a millionaire.
3. Seeing that you got this story via e-mail, you may be
closer to becoming a janitor than you are to becoming a
millionaire. Something to consider.
4. If you do have a computer and e-mail, you may already
been taken to the cleaners by Microsoft.
a janitor. The manager arranges for him to take an aptitude
test. After the test, the manager says, "You will be
employed just above minimum wage, $10.15 an hour. Let me
have your e-mail address, so that I can send you a form to
complete and tell you where to report for work on your first
day."
Taken aback, the man protests that he has neither a computer
nor an e-mail address. To this the MS manager replies,
"Well, then, that means that you virtually don't exist and
can therefore hardly expect to be employed."
Stunned, the man leaves. Not knowing where to turn and
having only $10 in his wallet, he decides to buy a flat of
tomatoes at the supermarket. In less than two hours, he
sells all the tomatoes individually at 100 percent profit.
Repeating the process several times more that day, he ends
up with almost $100 before going to sleep that night.
And thus it dawns on him that he could quite easily make a
living selling tomatoes. Getting up early every day and
going to bed late, he multiplies his profits quickly. After
a short time he acquires a cart to transport several dozen
boxes of tomatoes, only to have to trade it in so that he
can buy a small truck to support his growing business. By
the end of the second year, he is the owner of a fleet of
trucks and manages a staff of 100 formerly unemployed
people, all selling tomatoes.
Planning for the future of his wife and children, he decides
to buy life insurance. Consulting an insurance adviser, he
picks a plan to fit his new circumstances. At the end of the
conversation, the adviser asks him for his e-mail address in
order to send the final documents electronically. When the
man replies that he has no e-mail, the adviser is stunned,
"You don't have e-mail? How on earth have you managed to
amass such wealth without the Internet, e-mail, and e-
commerce? Just imagine where you would be now, if you were
connected to the Internet from the very start!"
After a moment of thought, the tomato millionaire replied,
"Why, of course! I would be a janitor at Microsoft!"
Moral of this story:
1. The Internet, e-mail, and e-commerce do not need to rule
your life.
2. If you don't have e-mail, but work hard, you can still
become a millionaire.
3. Seeing that you got this story via e-mail, you may be
closer to becoming a janitor than you are to becoming a
millionaire. Something to consider.
4. If you do have a computer and e-mail, you may already
been taken to the cleaners by Microsoft.
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