A while back, I led a round-table discussion with people
whose net worth ranged from "comfortable" to almost a
billion dollars. All of them have achieved significant
financial wealth, and all of them have done it on their own.
There was no inherited money in this group. I asked them
what they did to accumulate money, and for advice to pass
along in TIPS. Here are the results:
1. Save 10% of everything you make, no matter what. The
amount they recommended varied slightly, but they were
unanimous: Live within your means and save money every
month.
2. Invest for the long haul. They pointed to Warren Buffet
and noted that he buys and holds a stock for 20 years or
longer. Invest in things you understand, and hold on for the
long haul!
3. Avoid debt. They talked about raising capital for their
businesses (sometimes borrowing from investors), but
insisted that personal debt be eliminated. One woman said,
"consumer debt is devastating. If you want to achieve
financial wealth, kill your credit cards." Another added,
"no car or boat or anything else is worth the cost
(financial and emotional) of borrowing money."
4. Crunch the numbers. They talked about doing their
financial statements "every month, no matter what." Another
added, "Only the numbers tell you how you’re really doing;
you’ve got to watch them like a hawk and use the information
every day."
5. Have a plan. They expect their investments to grow
steadily over the years (not over-night), and they plan
accordingly. They emphasized setting 20, 30, even 50-year
financial goals.
6. Know that money is one way of keeping score, but it’s
not the game itself. Money comes from investing or creating
or doing something other people value and will pay for. They
emphasized that "it’s fun to have nice things" but noted
that the money was secondary to doing "interesting things."
All of them had stories of starting out with school loans,
small children, a "stuffy little apartment," working for
minimum wage or eating "lots of macaroni and cheese," and
yet knowing that they could "achieve some measure of
success." Now, they've done it, and so can you. We can learn
from the experts!
Sunday, January 29, 2012
Thursday, January 26, 2012
CREATING A POWERFUL SALES PLAN
Field sales people have a unique aspect to their jobs -- they have the ability to decide what to do every moment of every day. The need to make this decision -- where to go, who to see, who to call, what to do -- distinguishes the sales profession from most others.
I've often thought that the quality of this decision, more than any other single thing, dictates the quality of the sales person's results. Consistently make effective decisions, and your results will improve. Make thoughtless, habitual or reactive decisions, and your results will be sub-par.
One of the ways to ensure that you make good decisions about your selling time is to create a comprehensive sales plan.
What's a sales plan? A written, thoughtful set of decisions about the most effective things you can do. A sales plan should be the result of some good thinking, wherein you analyze and prioritize a number of different aspects of your job.
A good sales plan addresses different time durations and different aspects of your job.
Annual planning retreat
Every sales person should discipline himself/herself to an annual planning retreat. Set a day or two aside, every year, to engage in some serious planning. Turn off the phone, shut down the email, and immerse yourself into deep thought about the coming year. Begin by specifying a series of annual sales goals. What, specifically, do you want to accomplish this year in your job? I recommend no more than five specific sales goals. Typically, one of these goals describes the total volume of sales dollars you want to create; another may describe the number of new customers you want to acquire; yet another may relate to the number of high potential customers with whom you want to increase your business. Regardless of what your goals are, an annual, written, specific set of goals is the beginning of a sales plan.
Next, give some thought, and express that thought on paper, as to your basic strategy to accomplish those goals. If you are going to acquire 20 new customers, for example, exactly what are you going to do in order to accomplish that annual goal?
Classify all your accounts by their potential. Rank them in order, identify the highest potential, and then plan to spend more time with the highest potential.
Re-organize your filing system; throw out the obsolete hard copies and delete the unnecessary electronic files.
To do this well, you will need to devote a full day or two. This annual exercise is the first part of a good sales plan.
Monthly plan
Next, you should develop a more detailed plan every month. Produce a one or two page document which contains your specific commitments to the most effective actions. Once again, you are required to analyze and prioritize your efforts in regards to a number of issues.
First, your monthly objectives: What do you want to accomplish relative to the annual goals that you set? If you said you wanted to sell $2,000,000 worth of your goods this year, how much do you have to sell this month? Each of your annual goals should have a monthly component.
Next, you should address your prospects and customers. In order of priority, in which prospects and customers should you invest your time? That priority often takes the form of a methodical and objective ranking into categories -- typically A, B, and C -- based on potential. The sales plan then describes your plan for coverage of the A's and B's.
You should address the CTM opportunities, regardless of where they occur. CTM stands for Closest to the Money. Analyze and prioritize your efforts related to those opportunities within your territory that are closest to the money. What are you going to do to bring each of them to fruition? Specify each, the dollar amount of the opportunity, and what your actions should be.
Your company may have certain key product or product lines that it wants to emphasize. If so, you'll need to analyze and prioritize your efforts in regards to those product lines. What will you do this month to increase sales of those product lines? What specific actions will you take, in which specific accounts?
Finally, what will you do this month to improve yourself? What classes or seminars will you attend? What books will you read? To which CDs will you listen?
Note that all of this addresses not every action you will take, but rather the most effective actions. You can note these things on a page or two.
Don't think that you can keep all this in your head, and skip the discipline of writing it down. Writing each specific action and strategy down, whether it's on a yellow pad or a computer document, forces precise thinking. The written word also commits you to a degree much deeper than if you keep the idea locked in your head.
After you have completed this monthly sales plan, it's time to schedule your time. Lay out a plan for each day for the next 30 days. Where will you plan to be, and who will you plan to see? Reflect first your priorities from your monthly plan. Then fill in the non-priority calls.
You and I both know that your days will rarely go according to plan. However, without a plan, you will have totally given up the ability to control and manage your time. By having a plan you have something to fall back on, something to refer to, some benchmark by which to measure the constant and urgent demands on your time.
So, there is an annual component to your sales plan, as well as a monthly discipline. But you are not finished yet.
Weekly plans
You need to reorganize and recommit to your monthly time and territory plan each week. Adjust your plan based on what actually happened the previous week. For example, if you didn't get to see an A account that you had planned on seeing, can you see them this week instead? Make your adjustments each week. Each week, at the end of the week, spend some time planning and preparing for the upcoming week.
Daily plans
Finally, you need to plan each sales call. What do you want to accomplish in each call? What do you need to prepare in order to accomplish it? Again, you'll be more focused and more committed if you write down a specific outcome that you would like to achieve in each sales call. Keep in mind that sales is a process, consisting of a series of steps that the buyer and seller take to come to a good decision. Your planned outcomes should be narrow and specific. Something like: "Acquire the information I need in order to structure a proposal," instead of "Sell this account."
The creation of a sales plan, as you can see, is not a simple, one-time event. Rather it is a discipline that involves a commitment of time and thoughtfulness at specific intervals in the year.
It is also not just an administrative requirement, but a powerful tool that enables a professional sales person to consistently make good decisions about the most important question he/she faces: Where to go and what to do?
I've often thought that the quality of this decision, more than any other single thing, dictates the quality of the sales person's results. Consistently make effective decisions, and your results will improve. Make thoughtless, habitual or reactive decisions, and your results will be sub-par.
One of the ways to ensure that you make good decisions about your selling time is to create a comprehensive sales plan.
What's a sales plan? A written, thoughtful set of decisions about the most effective things you can do. A sales plan should be the result of some good thinking, wherein you analyze and prioritize a number of different aspects of your job.
A good sales plan addresses different time durations and different aspects of your job.
Annual planning retreat
Every sales person should discipline himself/herself to an annual planning retreat. Set a day or two aside, every year, to engage in some serious planning. Turn off the phone, shut down the email, and immerse yourself into deep thought about the coming year. Begin by specifying a series of annual sales goals. What, specifically, do you want to accomplish this year in your job? I recommend no more than five specific sales goals. Typically, one of these goals describes the total volume of sales dollars you want to create; another may describe the number of new customers you want to acquire; yet another may relate to the number of high potential customers with whom you want to increase your business. Regardless of what your goals are, an annual, written, specific set of goals is the beginning of a sales plan.
Next, give some thought, and express that thought on paper, as to your basic strategy to accomplish those goals. If you are going to acquire 20 new customers, for example, exactly what are you going to do in order to accomplish that annual goal?
Classify all your accounts by their potential. Rank them in order, identify the highest potential, and then plan to spend more time with the highest potential.
Re-organize your filing system; throw out the obsolete hard copies and delete the unnecessary electronic files.
To do this well, you will need to devote a full day or two. This annual exercise is the first part of a good sales plan.
Monthly plan
Next, you should develop a more detailed plan every month. Produce a one or two page document which contains your specific commitments to the most effective actions. Once again, you are required to analyze and prioritize your efforts in regards to a number of issues.
First, your monthly objectives: What do you want to accomplish relative to the annual goals that you set? If you said you wanted to sell $2,000,000 worth of your goods this year, how much do you have to sell this month? Each of your annual goals should have a monthly component.
Next, you should address your prospects and customers. In order of priority, in which prospects and customers should you invest your time? That priority often takes the form of a methodical and objective ranking into categories -- typically A, B, and C -- based on potential. The sales plan then describes your plan for coverage of the A's and B's.
You should address the CTM opportunities, regardless of where they occur. CTM stands for Closest to the Money. Analyze and prioritize your efforts related to those opportunities within your territory that are closest to the money. What are you going to do to bring each of them to fruition? Specify each, the dollar amount of the opportunity, and what your actions should be.
Your company may have certain key product or product lines that it wants to emphasize. If so, you'll need to analyze and prioritize your efforts in regards to those product lines. What will you do this month to increase sales of those product lines? What specific actions will you take, in which specific accounts?
Finally, what will you do this month to improve yourself? What classes or seminars will you attend? What books will you read? To which CDs will you listen?
Note that all of this addresses not every action you will take, but rather the most effective actions. You can note these things on a page or two.
Don't think that you can keep all this in your head, and skip the discipline of writing it down. Writing each specific action and strategy down, whether it's on a yellow pad or a computer document, forces precise thinking. The written word also commits you to a degree much deeper than if you keep the idea locked in your head.
After you have completed this monthly sales plan, it's time to schedule your time. Lay out a plan for each day for the next 30 days. Where will you plan to be, and who will you plan to see? Reflect first your priorities from your monthly plan. Then fill in the non-priority calls.
You and I both know that your days will rarely go according to plan. However, without a plan, you will have totally given up the ability to control and manage your time. By having a plan you have something to fall back on, something to refer to, some benchmark by which to measure the constant and urgent demands on your time.
So, there is an annual component to your sales plan, as well as a monthly discipline. But you are not finished yet.
Weekly plans
You need to reorganize and recommit to your monthly time and territory plan each week. Adjust your plan based on what actually happened the previous week. For example, if you didn't get to see an A account that you had planned on seeing, can you see them this week instead? Make your adjustments each week. Each week, at the end of the week, spend some time planning and preparing for the upcoming week.
Daily plans
Finally, you need to plan each sales call. What do you want to accomplish in each call? What do you need to prepare in order to accomplish it? Again, you'll be more focused and more committed if you write down a specific outcome that you would like to achieve in each sales call. Keep in mind that sales is a process, consisting of a series of steps that the buyer and seller take to come to a good decision. Your planned outcomes should be narrow and specific. Something like: "Acquire the information I need in order to structure a proposal," instead of "Sell this account."
The creation of a sales plan, as you can see, is not a simple, one-time event. Rather it is a discipline that involves a commitment of time and thoughtfulness at specific intervals in the year.
It is also not just an administrative requirement, but a powerful tool that enables a professional sales person to consistently make good decisions about the most important question he/she faces: Where to go and what to do?
Wednesday, January 25, 2012
WHERE YOU STAND IS IMPORTANT.
To be honest, I could have started this article with "where you sit is also important."
The reality is that where you sit influences where you stand, but where you stand has a direct bearing on where you sit.
Let me explain.
In our business and governmental world, each one of us is influenced by the position we occupy in the organization as to how we will feel about certain projects that are brought to the decision table.
For example, the research and development department and the sales department like to spend money to develop new products. On the other hand, the accounting department would probably feel that, in view of the economy, they should be more cautious in investing funds which might not produce a return for a long time. That's where the decision-making process is so important.
All factors have to be weighed and analyzed as to the long-range best interests of the company. Once the facts are in, the decision has to be made and that decision will affect the entire company. That's the reason input from everyone involved is important.
It's also true that where a person stands influences to a very large degree where they sit. Research very clearly indicates that people who take a stand for what is right, build on an ethical, moral base and stand on principle, are the ones who end up in the upper echelons of business.
When you put these two factors together, it simply means that the person of integrity (and, obviously, experience and ability) is going to be the one who is most likely to end up making those all-important decisions about the best place to put the company time and resources. It's still true that the best way is the right way, or the right way is the best way. Think about it and I'll SEE YOU AT THE TOP!
The reality is that where you sit influences where you stand, but where you stand has a direct bearing on where you sit.
Let me explain.
In our business and governmental world, each one of us is influenced by the position we occupy in the organization as to how we will feel about certain projects that are brought to the decision table.
For example, the research and development department and the sales department like to spend money to develop new products. On the other hand, the accounting department would probably feel that, in view of the economy, they should be more cautious in investing funds which might not produce a return for a long time. That's where the decision-making process is so important.
All factors have to be weighed and analyzed as to the long-range best interests of the company. Once the facts are in, the decision has to be made and that decision will affect the entire company. That's the reason input from everyone involved is important.
It's also true that where a person stands influences to a very large degree where they sit. Research very clearly indicates that people who take a stand for what is right, build on an ethical, moral base and stand on principle, are the ones who end up in the upper echelons of business.
When you put these two factors together, it simply means that the person of integrity (and, obviously, experience and ability) is going to be the one who is most likely to end up making those all-important decisions about the best place to put the company time and resources. It's still true that the best way is the right way, or the right way is the best way. Think about it and I'll SEE YOU AT THE TOP!
Monday, January 23, 2012
DO ONE THING WELL
I met with the owner of a consulting organization this week
who described the services, specialties and experts he has
on staff. His company provides a wide range of marketing,
information technology, communication and management
services. It sounded very exciting, until I asked how many
clients he has.
He got quiet, and I knew the answer. He's losing money hand
over fist. He attracts lots of inquiries, submits lots of
proposals, gets "close" to making a sale, and then the
customers fade away.
By proposing too many solutions and offering too many
services, I suspect his prospects get confused about what
his firm actually does. In the end, they aren't sure and
they walk away.
Whether we are looking for a doctor, someone to repair our
car, or a stock broker, we want experts. We want to hire
someone who is the "best" at what they do, someone whose
focus, knowledge and reputation assures us of impeccable
service and one-stop solutions.
To build your business, pick your best strength. Focus on
the thing that is easiest, or the most interesting, or the
thing you are most passionate about, and emphasize it in
everything you do! More often than not, the thing you enjoy
the most, or the piece that appeals to your natural talent,
is precisely the strength that your competitors will never
match. Only you have your particular insight, education and
resources. Build on that! Brand it, advertise it, expand
it, and take it to the bank.
Do "your" thing, and do it better than anybody else on
earth. It will make you rich.
who described the services, specialties and experts he has
on staff. His company provides a wide range of marketing,
information technology, communication and management
services. It sounded very exciting, until I asked how many
clients he has.
He got quiet, and I knew the answer. He's losing money hand
over fist. He attracts lots of inquiries, submits lots of
proposals, gets "close" to making a sale, and then the
customers fade away.
By proposing too many solutions and offering too many
services, I suspect his prospects get confused about what
his firm actually does. In the end, they aren't sure and
they walk away.
Whether we are looking for a doctor, someone to repair our
car, or a stock broker, we want experts. We want to hire
someone who is the "best" at what they do, someone whose
focus, knowledge and reputation assures us of impeccable
service and one-stop solutions.
To build your business, pick your best strength. Focus on
the thing that is easiest, or the most interesting, or the
thing you are most passionate about, and emphasize it in
everything you do! More often than not, the thing you enjoy
the most, or the piece that appeals to your natural talent,
is precisely the strength that your competitors will never
match. Only you have your particular insight, education and
resources. Build on that! Brand it, advertise it, expand
it, and take it to the bank.
Do "your" thing, and do it better than anybody else on
earth. It will make you rich.
Saturday, January 21, 2012
6 WAYS TO END BICKERING ABOUT MONEY
One of the most common causes of arguments between couples is disagreements over money, mostly about how it should be spent, or not spent. Arguments over money generally fall into two general areas, differences in fundamental attitudes, and bickering over day to day details.
Sometimes the biggest arguments occur over the smallest issues - a $4 latte or whether store coupons are worth the effort. Bickering over the details can be virtually eliminated by agreeing on some budgeting guidelines and responsibilities in advance. The challenge to establishing such a framework is that the conversation about setting the rules is likely to trigger argument about fundamental attitudes toward money. This is not all bad, however, in that the sooner underlying beliefs are revealed and discussed, the sooner real progress can be made toward understanding and acceptance.
To eliminate arguing over details:
1. Set up a monthly discretionary budget for each spouse.
This includes all personal expenses including individual meals and snacks, clothes, personal grooming, hobbies, and gifts. Agree that the other partner will have no cause to question purchases made with this money.
2. Choose one spouse to be responsible for each area of purchasing.
For example, have one person do all the grocery shopping. Try reversing roles occasionally. Usually, it reduces friction to assign a duty to the spouse with the stronger beliefs about that area of finances. If someone is committed to coupon clipping, let them do the grocery shopping.
3. Whenever you find yourself having an argument about money, write down the specific issue, seek to understand the underlying disagreement in overall beliefs about money, and schedule a conversation to discuss that broad area.
For example, if you find that you are arguing over whether to take out a home equity line of credit to remodel your kitchen, the fundamental beliefs at stake might include each spouse's attitude toward debt, beliefs about the home as an investment, levels of confidence in future income generation, degrees of risk aversion, and the fraction of available resources each spouse is willing to direct toward the home. While a discussion of whether to remodel the kitchen might become contentious and never reach resolution, each of the fundamental belief areas, taken separately, could be the subject of its own focused and less contentious conversation that is much more likely to reach mutual understanding and agreement or compromise.
To control arguing over fundamental attitudes toward money:
1. Establish a budget.
For some couples, a very detailed and strict budget with many categories works best. For others, general guidelines with frequent special circumstances work better. Begin your discussion of creating a budget by agreeing on how flexible you choose for your budget to be. Then work on the categories and the monthly amounts.
2. Seek to understand your key beliefs about money, especially in those areas in which you hold differing beliefs.
In such a discussion, attempt to focus on stating your own beliefs clearly and on understanding your partner's beliefs. Avoid saying anything negative about your partner's beliefs until you have written down a statement of both spouses' points of view. Then continue to refrain from being negative or argumentative.
3. Seek ways to honor your partner's beliefs without abandoning your own.
If one of you believes, "If we've got the money, we should spend it," and the other cautions, "We need to put aside a large fund for a rainy day," it is going to take considerable restraint to avoid frequent conflict. In a situation such as that, your only hope for success lies in reaching a compromise at the fundamental level, and then considering each detail decision only in the light of the overall compromise agreement. For example, you believe you should save 10% of your income, your spouse believes in credit card debt, and you have reached a compromise agreement to neither save nor borrow. Now the question arises whether you can afford a vacation. To be true to your high-level compromise and to avoid argument, you must both consider the vacation question only in the context of the compromise budget, and not allow your feelings toward that budget to weigh in.
Especially if you have fundamentally differing views toward money, focus on your love for each other and on your desire to honor your partner whenever you feel your temper begin to rise. Look at the big picture, and ask whether this issue is simply a detail of a larger difference in attitude toward money, and whether that larger difference is amenable to compromise.
Sometimes the biggest arguments occur over the smallest issues - a $4 latte or whether store coupons are worth the effort. Bickering over the details can be virtually eliminated by agreeing on some budgeting guidelines and responsibilities in advance. The challenge to establishing such a framework is that the conversation about setting the rules is likely to trigger argument about fundamental attitudes toward money. This is not all bad, however, in that the sooner underlying beliefs are revealed and discussed, the sooner real progress can be made toward understanding and acceptance.
To eliminate arguing over details:
1. Set up a monthly discretionary budget for each spouse.
This includes all personal expenses including individual meals and snacks, clothes, personal grooming, hobbies, and gifts. Agree that the other partner will have no cause to question purchases made with this money.
2. Choose one spouse to be responsible for each area of purchasing.
For example, have one person do all the grocery shopping. Try reversing roles occasionally. Usually, it reduces friction to assign a duty to the spouse with the stronger beliefs about that area of finances. If someone is committed to coupon clipping, let them do the grocery shopping.
3. Whenever you find yourself having an argument about money, write down the specific issue, seek to understand the underlying disagreement in overall beliefs about money, and schedule a conversation to discuss that broad area.
For example, if you find that you are arguing over whether to take out a home equity line of credit to remodel your kitchen, the fundamental beliefs at stake might include each spouse's attitude toward debt, beliefs about the home as an investment, levels of confidence in future income generation, degrees of risk aversion, and the fraction of available resources each spouse is willing to direct toward the home. While a discussion of whether to remodel the kitchen might become contentious and never reach resolution, each of the fundamental belief areas, taken separately, could be the subject of its own focused and less contentious conversation that is much more likely to reach mutual understanding and agreement or compromise.
To control arguing over fundamental attitudes toward money:
1. Establish a budget.
For some couples, a very detailed and strict budget with many categories works best. For others, general guidelines with frequent special circumstances work better. Begin your discussion of creating a budget by agreeing on how flexible you choose for your budget to be. Then work on the categories and the monthly amounts.
2. Seek to understand your key beliefs about money, especially in those areas in which you hold differing beliefs.
In such a discussion, attempt to focus on stating your own beliefs clearly and on understanding your partner's beliefs. Avoid saying anything negative about your partner's beliefs until you have written down a statement of both spouses' points of view. Then continue to refrain from being negative or argumentative.
3. Seek ways to honor your partner's beliefs without abandoning your own.
If one of you believes, "If we've got the money, we should spend it," and the other cautions, "We need to put aside a large fund for a rainy day," it is going to take considerable restraint to avoid frequent conflict. In a situation such as that, your only hope for success lies in reaching a compromise at the fundamental level, and then considering each detail decision only in the light of the overall compromise agreement. For example, you believe you should save 10% of your income, your spouse believes in credit card debt, and you have reached a compromise agreement to neither save nor borrow. Now the question arises whether you can afford a vacation. To be true to your high-level compromise and to avoid argument, you must both consider the vacation question only in the context of the compromise budget, and not allow your feelings toward that budget to weigh in.
Especially if you have fundamentally differing views toward money, focus on your love for each other and on your desire to honor your partner whenever you feel your temper begin to rise. Look at the big picture, and ask whether this issue is simply a detail of a larger difference in attitude toward money, and whether that larger difference is amenable to compromise.
Thursday, January 19, 2012
GROW YOUR BUSINESS IN 2012
This week, I was reminded of a quote from one of my mentors,
Thomas Leonard, who observed that, "People love to buy
things, but almost no one wants to be sold."
Thousands of people are eager to buy what you sell. They
want the benefits, the convenience, the comfort or prestige
that you can provide. Human beings are an "acquisitive"
bunch. We want stuff!
Of course, consumerism can be abused, but buying and selling
is the process that creates the life (and the lifestyle) we
all want. The "desire to acquire" goes deep, and it's a good
thing.
So, if you aren’t making as many sales as you would like,
let me suggest that the problem is not with your customers,
but with you. The problem is likely one of the following:
1. Not enough potential customers know about you or that
your product could enrich their lives. This is a marketing
problem, and as a business leader it is your job to solve
it. Let people know! Get out there and get in the game!
2. Or, the other possibility, is that you’re trying too
hard to "sell."
Personally, I have a deep-seated aversion to being sold
anything. I see websites that seem manipulative or high-
pressured. I see sales techniques that fail to build trust
or credibility, and they do not attract me.
But people want to buy benefits! They buy solutions to their
problems. They buy things that make their lives better,
easier, simpler, healthier or more comfortable. They buy
stuff that makes them happy. And they buy from people they
know and like and trust.
If enough people "know and like and trust" you, they will
listen when you offer a product or service that will make
their lives better. If they "know and like and trust" you,
they will flock to your door and you’ll make all the sales
you need.
Thomas Leonard, who observed that, "People love to buy
things, but almost no one wants to be sold."
Thousands of people are eager to buy what you sell. They
want the benefits, the convenience, the comfort or prestige
that you can provide. Human beings are an "acquisitive"
bunch. We want stuff!
Of course, consumerism can be abused, but buying and selling
is the process that creates the life (and the lifestyle) we
all want. The "desire to acquire" goes deep, and it's a good
thing.
So, if you aren’t making as many sales as you would like,
let me suggest that the problem is not with your customers,
but with you. The problem is likely one of the following:
1. Not enough potential customers know about you or that
your product could enrich their lives. This is a marketing
problem, and as a business leader it is your job to solve
it. Let people know! Get out there and get in the game!
2. Or, the other possibility, is that you’re trying too
hard to "sell."
Personally, I have a deep-seated aversion to being sold
anything. I see websites that seem manipulative or high-
pressured. I see sales techniques that fail to build trust
or credibility, and they do not attract me.
But people want to buy benefits! They buy solutions to their
problems. They buy things that make their lives better,
easier, simpler, healthier or more comfortable. They buy
stuff that makes them happy. And they buy from people they
know and like and trust.
If enough people "know and like and trust" you, they will
listen when you offer a product or service that will make
their lives better. If they "know and like and trust" you,
they will flock to your door and you’ll make all the sales
you need.
Monday, January 9, 2012
2012: WHAT ARE YOU THINKING?
There's a well-known quote that, "We become what we think
about all day long."
The truth is that most human behavior reflects our thinking.
If I think we've met before, I'm likely to greet you
differently than I would greet a stranger, even if I've got
you confused with someone else. The reality doesn't matter!
If I think I recognize you, I'm likely to behave as if we
are acquainted.
Similarly, our emotions also result from our thinking. If I
think my favorite team has lost the big game, I'm going to
be sad. If I think they lost, the reality that they won in
the final seconds does not matter! What I believe will
determine my behavior and feelings until I learn the truth--
and then my behavior and my emotions change in an instant!
What we think about largely determines who we are, how we
feel, and (most importantly) what we do.
This is the time of year to set goals, or New Year's
Resolutions. As long-time subscribers know, I'm all in favor
of goals! I believe in goal-setting. I've written a couple
books about how to set powerful goals. I take my goals
seriously and spend many hours reviewing last year's results
and then carefully framing my targets for the new year.
Goals work!
Sometimes, just selecting goals and writing them down is all
it takes to create significant progress. Thousands of people
have written down a list of goals, set it aside and even
"forgotten about them" until they discover months later that
most of their goals have been achieved!
Choosing your goals and writing them down is powerful!
But, thinking about your goals is far more powerful. "We
become what we think about all day long."
I'm writing a book on Self-Directed Evolution. The idea is
that since we are constantly changing and growing, learning
new ideas and establishing new habits, we should use this to
our advantage.
You are, in essence, becoming a new person all the time.
Change--evolution--is inevitable. As we grow, hopefully we
grow wiser. As we learn new things, hopefully our behavior
and our values reflect the very best of our new skills. This
is good!
Why not use this to your advantage?
A huge key to achieving your goals in 2012 is to be
extremely clear about what you want, write it down, and then
think about it every day, all day long.
The brain is a goal-achieving mechanism. It is designed to
automatically search for the things that make a difference
in our lives.
We've all had the experience of being pre-occupied with
something and then being astonished when we "just happen" to
notice it all around us. Passionate golfers notice signs to
golf courses along the road, signs that other people in the
car never see.
Shortly after finding out they are expecting a baby, almost
every couple is amazed at the number of pregnant women all
around them!
The brain notices things that interest it. When it's
focused, the brain automatically notices new information and
new opportunities. It automatically takes advantage of new
ideas, new possibilities and new solutions.
You are going to change and grow in 2012. You will learn new
things. You will be inundated with information, websites,
news and advertisements. The direction and quality of your
life will be influenced by all these "data points." Your job
is to choose, in advance, the ones that will have the MOST
influence on you.
Who do you want to become in 2012? Think about it!
What do you want to learn in 2012? Think about it!
What do you want to have in 2012? Think about it!
What do you want to do or achieve in 2012? Think about it!
You become what you think about all day long.
about all day long."
The truth is that most human behavior reflects our thinking.
If I think we've met before, I'm likely to greet you
differently than I would greet a stranger, even if I've got
you confused with someone else. The reality doesn't matter!
If I think I recognize you, I'm likely to behave as if we
are acquainted.
Similarly, our emotions also result from our thinking. If I
think my favorite team has lost the big game, I'm going to
be sad. If I think they lost, the reality that they won in
the final seconds does not matter! What I believe will
determine my behavior and feelings until I learn the truth--
and then my behavior and my emotions change in an instant!
What we think about largely determines who we are, how we
feel, and (most importantly) what we do.
This is the time of year to set goals, or New Year's
Resolutions. As long-time subscribers know, I'm all in favor
of goals! I believe in goal-setting. I've written a couple
books about how to set powerful goals. I take my goals
seriously and spend many hours reviewing last year's results
and then carefully framing my targets for the new year.
Goals work!
Sometimes, just selecting goals and writing them down is all
it takes to create significant progress. Thousands of people
have written down a list of goals, set it aside and even
"forgotten about them" until they discover months later that
most of their goals have been achieved!
Choosing your goals and writing them down is powerful!
But, thinking about your goals is far more powerful. "We
become what we think about all day long."
I'm writing a book on Self-Directed Evolution. The idea is
that since we are constantly changing and growing, learning
new ideas and establishing new habits, we should use this to
our advantage.
You are, in essence, becoming a new person all the time.
Change--evolution--is inevitable. As we grow, hopefully we
grow wiser. As we learn new things, hopefully our behavior
and our values reflect the very best of our new skills. This
is good!
Why not use this to your advantage?
A huge key to achieving your goals in 2012 is to be
extremely clear about what you want, write it down, and then
think about it every day, all day long.
The brain is a goal-achieving mechanism. It is designed to
automatically search for the things that make a difference
in our lives.
We've all had the experience of being pre-occupied with
something and then being astonished when we "just happen" to
notice it all around us. Passionate golfers notice signs to
golf courses along the road, signs that other people in the
car never see.
Shortly after finding out they are expecting a baby, almost
every couple is amazed at the number of pregnant women all
around them!
The brain notices things that interest it. When it's
focused, the brain automatically notices new information and
new opportunities. It automatically takes advantage of new
ideas, new possibilities and new solutions.
You are going to change and grow in 2012. You will learn new
things. You will be inundated with information, websites,
news and advertisements. The direction and quality of your
life will be influenced by all these "data points." Your job
is to choose, in advance, the ones that will have the MOST
influence on you.
Who do you want to become in 2012? Think about it!
What do you want to learn in 2012? Think about it!
What do you want to have in 2012? Think about it!
What do you want to do or achieve in 2012? Think about it!
You become what you think about all day long.
Friday, January 6, 2012
NEW YEAR'S RESOLUTION FOR A BETTER FINANCIAL FUTURE
There could not be a better time to mull over the changes needed in our lifestyles than at the beginning of a New Year. This is also a good time to set yearly goals and make resolutions. Each year, according to statistics, almost a third of us make some kinds of New Year Resolutions. Interestingly, although financial future is our main cause of anxiety, our personal finance, according to surveys, gets only to the fifth place in the list of most common New Year resolutions.
For those of us who are still in the process of making New Year resolutions, my suggestion is to give high priority to financial aspects.
Here are some resolution ideas that may change your financial future over the course of time.
Saving
Let's make one thing clear! Whatever amount of money you make is probably never enough! The way our consumer psychology works is our demand increases along with our income. This makes saving really a problematic task! Some people do have inborn ability to save willingly, but most have to force themselves. If you are one of these people who find saving a difficult thing, you should consider the methods described below.
• Commit to yourself that each month you will set aside minimum ten percent of your income for investment purposes.
• Make a strict habit of depositing 10 percent of all your income directly to your saving account.
• No matter what happens, don't give up.
You might argue that your income is not enough to make any kind of savings. Believe me, once you try putting away 10 percent of your earnings, you will see that this really does not have any serious impact on your budget.
So your first resolution is to save ten percent of all your income month after month.
There is hardly any point to save if you don't put your money to work for yourself! So, once you resolved to save, you need to invest your money wisely.
Credit Cards and Other Consumer Loans
According to New York Times, throughout the last decade use of credit cards has increased dramatically. The number of the people with credit cards raised about 75 percent from 82 million in 1990 to 144 million in 2003. However, the debt burden that they carry had grown 350 percent from $338 billion to an astounding $1.5 trillion. In 2003, according to the same report, average household carried a debt of $7,520 in comparison to $2,550 in 1990.
This means that credit card loans are becoming serious problems for average Joe. That's why the first step of your investment strategy should be to get rid of your consumer debts- especially your credit card loans. Most credit cards have horrendously expensive interest rates -- normally, 18 percent and over. If you are one of those people who pay only minimum payment amount each month to their credit cards' debt, you are making a great mistake. Check out the calculator at http://www.bankrate.com/brm/calc/MinPayment.asp to see how much you are losing by not eliminating your credit card debt burden.
If you are looking for financially sound future, take a hard look at your credit cards and resolve to do the following:
From the savings you started to make, pay off the maximum amount of your credit cards' debts until you completely eliminate them.
• If you are unable to pay off the whole amount at once, don't just pay the minimum amount required; pay out as much as you can over that limit.
• Shop for credit cards with minimum interest rates -- which should not be more than 12 percent -- and switch to them.
• Use credit cards strictly for convenience only. Don't charge to your credit cards unless you know for sure that you will be able to pay it off right away.
• Minimize the quantity of credit cards you are holding. There is no reason to have more than three credit cards.
Same goes for your other consumer loans like student, car, etc.
Mortgage
The second step of your investment strategy should be to evaluate your mortgage payments. There are several very simple ways of reducing your payment time dramatically. Used scrupulously these methods can lower a 30-year mortgage to 10-15 years.
• Instead of making one single payment each month, every two weeks' pay out half the monthly payment. The idea behind this is, since you are making 26 payments in a year -- each one of them carrying 50 percent of your monthly payment -- this is equivalent to 13 monthly payments. You are generating an extra month's payment each year, which in turn will reduce your mortgage term substantially.
• Whenever possible, each month try paying ten percent more than you are supposed to.
• Whenever you manage to make some extra earnings, use a portion of that to pay down your mortgage.
The mortgage calculator located at http://www.mortgages-loans-calculators.com/Calculator-Mortgage-Payoff.asp will help you to see your progress.
Keep Track of Your Expenses
If you don't do it yet, resolve yourself to keep an expense ledger of all spending. Just the mere act of jotting down all your expenditure will reduce your expenses up to 20 percent. The reason is when you start keeping track of the money you spend, you become more careful and discerning in your buying decisions, which in turn help you cutting back and saving hard earned money.
Here's to making 2012 your best financial year yet!
For those of us who are still in the process of making New Year resolutions, my suggestion is to give high priority to financial aspects.
Here are some resolution ideas that may change your financial future over the course of time.
Saving
Let's make one thing clear! Whatever amount of money you make is probably never enough! The way our consumer psychology works is our demand increases along with our income. This makes saving really a problematic task! Some people do have inborn ability to save willingly, but most have to force themselves. If you are one of these people who find saving a difficult thing, you should consider the methods described below.
• Commit to yourself that each month you will set aside minimum ten percent of your income for investment purposes.
• Make a strict habit of depositing 10 percent of all your income directly to your saving account.
• No matter what happens, don't give up.
You might argue that your income is not enough to make any kind of savings. Believe me, once you try putting away 10 percent of your earnings, you will see that this really does not have any serious impact on your budget.
So your first resolution is to save ten percent of all your income month after month.
There is hardly any point to save if you don't put your money to work for yourself! So, once you resolved to save, you need to invest your money wisely.
Credit Cards and Other Consumer Loans
According to New York Times, throughout the last decade use of credit cards has increased dramatically. The number of the people with credit cards raised about 75 percent from 82 million in 1990 to 144 million in 2003. However, the debt burden that they carry had grown 350 percent from $338 billion to an astounding $1.5 trillion. In 2003, according to the same report, average household carried a debt of $7,520 in comparison to $2,550 in 1990.
This means that credit card loans are becoming serious problems for average Joe. That's why the first step of your investment strategy should be to get rid of your consumer debts- especially your credit card loans. Most credit cards have horrendously expensive interest rates -- normally, 18 percent and over. If you are one of those people who pay only minimum payment amount each month to their credit cards' debt, you are making a great mistake. Check out the calculator at http://www.bankrate.com/brm/calc/MinPayment.asp to see how much you are losing by not eliminating your credit card debt burden.
If you are looking for financially sound future, take a hard look at your credit cards and resolve to do the following:
From the savings you started to make, pay off the maximum amount of your credit cards' debts until you completely eliminate them.
• If you are unable to pay off the whole amount at once, don't just pay the minimum amount required; pay out as much as you can over that limit.
• Shop for credit cards with minimum interest rates -- which should not be more than 12 percent -- and switch to them.
• Use credit cards strictly for convenience only. Don't charge to your credit cards unless you know for sure that you will be able to pay it off right away.
• Minimize the quantity of credit cards you are holding. There is no reason to have more than three credit cards.
Same goes for your other consumer loans like student, car, etc.
Mortgage
The second step of your investment strategy should be to evaluate your mortgage payments. There are several very simple ways of reducing your payment time dramatically. Used scrupulously these methods can lower a 30-year mortgage to 10-15 years.
• Instead of making one single payment each month, every two weeks' pay out half the monthly payment. The idea behind this is, since you are making 26 payments in a year -- each one of them carrying 50 percent of your monthly payment -- this is equivalent to 13 monthly payments. You are generating an extra month's payment each year, which in turn will reduce your mortgage term substantially.
• Whenever possible, each month try paying ten percent more than you are supposed to.
• Whenever you manage to make some extra earnings, use a portion of that to pay down your mortgage.
The mortgage calculator located at http://www.mortgages-loans-calculators.com/Calculator-Mortgage-Payoff.asp will help you to see your progress.
Keep Track of Your Expenses
If you don't do it yet, resolve yourself to keep an expense ledger of all spending. Just the mere act of jotting down all your expenditure will reduce your expenses up to 20 percent. The reason is when you start keeping track of the money you spend, you become more careful and discerning in your buying decisions, which in turn help you cutting back and saving hard earned money.
Here's to making 2012 your best financial year yet!
Monday, January 2, 2012
WHAT WILL YOU ACHIEVE IN 2010?
Every living thing is either growing or dying. Every plant,
every animal and every business is either becoming more
powerful, more creative, more vibrant and dynamic, or it is
shrinking, perhaps preparing to die.
How is it with your business, right now?
In the coming year, thousands of businesses will close their
doors. In 2012, thousands of professionals will see their
income decline, and some will give up, change careers and
move on. But not you!
Let others become frustrated or stuck, but NOT YOU!
In 2012, I want your business to grow! I want you to add new
products or services. In 2012, I want your business to
capture new markets, improve your services, raise prices,
and increase profits. I want 2012 to be your best year ever!
And, only you can make it happen. As a business owner or
leader, it is your responsibility to develop and execute
strategies to grow your business. No matter how many daily
tasks or small jobs you do, your PRIMARY responsibility is
to grow the business and now is the time to figure out
exactly how you will do that in 2012.
every animal and every business is either becoming more
powerful, more creative, more vibrant and dynamic, or it is
shrinking, perhaps preparing to die.
How is it with your business, right now?
In the coming year, thousands of businesses will close their
doors. In 2012, thousands of professionals will see their
income decline, and some will give up, change careers and
move on. But not you!
Let others become frustrated or stuck, but NOT YOU!
In 2012, I want your business to grow! I want you to add new
products or services. In 2012, I want your business to
capture new markets, improve your services, raise prices,
and increase profits. I want 2012 to be your best year ever!
And, only you can make it happen. As a business owner or
leader, it is your responsibility to develop and execute
strategies to grow your business. No matter how many daily
tasks or small jobs you do, your PRIMARY responsibility is
to grow the business and now is the time to figure out
exactly how you will do that in 2012.
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