In any process, there is an upper limit to how powerful the
results can be, and the limit is always the same: A
bottleneck.
In watering your garden, the smallest point limits how much
water passes through the hose. The bottleneck may be the
valve on the side of your house, the diameter of the hose,
or the little washer inside the coupling. Wherever the
bottleneck occurs, it limits the flow through the entire
hose, and the solution is always the same: increase the flow
at that one critical point, and the results are instant and
dramatic!
No matter how smart or skilled you are, something limits the
success you will achieve. There may be several points of
"friction", but there is always one item that limits you
more than all the others combined! Fix it and the results
are amazing! You could have a breakthrough of extraordinary
proportions!
Here are four common bottlenecks:
1. Not Acting as a Business. Many professionals and
entrepreneurs have a dream, not a business. They work
without focus, without clear priorities, and without
results. The bottleneck is lack of clarity. Define and work
the business!
2. Ineffective Marketing. If you aren't getting enough
inquiries, the bottleneck is in your advertising. Find a way
to let more of your most desired customers know about you.
Everyone wants great service at a fair price! Help them find
you!
3. Ineffective Sales Technique. If lots of folks show up,
ask questions, and compliment you on your work but don't
buy, your bottleneck is closing the sale. Work with a sales
coach, buy books or get a mentor, but fix this! Mary Kay
Ashe said, "Nothing happens until someone sells something!"
4. Inadequate Value Added. This is probably the hardest one
to admit, but if people try your product or service, and
don’t become steady customers, something is wrong. To
achieve unusual success, you must transform casual customers
into life-long partners. It may be a problem with your
pricing or your delivery, but it must be fixed!
What bottleneck is holding you back in your work, and in
your life?
Friday, April 27, 2012
Tuesday, April 24, 2012
FOUR OBSTACLES TO CLOSING
If you are in sales, you might know the difficultly and stress that comes with the end game of selling. But do you know that there are several reasons for why it is?
First and foremost is the fear of failure experienced by the prospect. Because of negative buying experiences in the past, over which you could have no control, prospects are conditioned to be suspicious, skeptical and wary of salespeople and sales approaches. They may like to buy, but they don't like to be sold. They are afraid of making a mistake. They are afraid of paying too much and finding it for sale cheaper somewhere else.
First, recognize the normal fear of making a buying mistake experienced by the customer. Give him every reason you can think of to be confident in dealing with you.
First and foremost is the fear of failure experienced by the prospect. Because of negative buying experiences in the past, over which you could have no control, prospects are conditioned to be suspicious, skeptical and wary of salespeople and sales approaches. They may like to buy, but they don't like to be sold. They are afraid of making a mistake. They are afraid of paying too much and finding it for sale cheaper somewhere else.
Fear of Criticism
They are afraid of being criticized by others for making the wrong buying decision. They are afraid of buying an inappropriate product and finding out later that they should have purchased something else. This fear of failure, of making a mistake in buying your product, is the major reason why people object, hesitate and procrastinate on the buying decision.
Fear of Rejection
The second major obstacle to selling is the fear of rejection, of criticism and disapproval experienced by the salesperson. You work long and hard to prospect and cultivate a prospective buyer and you are very reluctant to say anything that might cause the prospect to tune you out and turn you off. You have a lot invested in each prospect and if you are not careful, you will find yourself being wishy-washy at the end of the sale, rather than risking incurring the displeasure of the prospect by your asking for a firm decision.
Customers Are Busy
The third reason why the end of the sale is difficult is that customers are busy and preoccupied. It isn't that they are not interested in enjoying the benefits of your product. It's just that they are overwhelmed with work and they find it difficult to make sufficient time available to think through your recommendations and make a buying decision. And the better they are as a prospect, the busier they tend to be. This is why you need to maintain momentum throughout the sales process and gently push it to a conclusion at the appropriate time.
Inertia is Hard to Break
The factor of inertia is the fourth reason that can also cause the sales process to come to a halt without a resolution. Customers are lazy and often quite comfortable doing what they are currently doing. Your product or service may require that they make exceptional efforts to accommodate the change or a new way of doing things. They perhaps recognize that they would be better off with your product, but the trouble and expense of installing it hardly seems to make it worth the effort. They see no pressing need or urgency to stop doing what they are doing and start doing something else with what you are selling.
Everyone Buys at the Same Time
The good news is that everybody you meet has bought and will buy, new products and services from someone, at some time. If they didn't buy from you, they will from someone else. You must find the way to overcome the natural physical and psychological obstacles to buying and then hone your skills so that you are capable of selling to almost any qualified prospect you speak to.
Action Exercises
Now, here are two things you can do immediately to put these ideas into action.First, recognize the normal fear of making a buying mistake experienced by the customer. Give him every reason you can think of to be confident in dealing with you.
Second, accept that everyone you talk to is busy and you are interrupting. Always ask if this is a good time for him to give you his undivided attention. If not, arrange to see him another time.
Friday, April 20, 2012
WHAT'S YOUR PERSONAL ROI?
The concept of personal
return on investment (ROI) is one that's been steadily gaining currency
in the business world over the past few years. While the term can be
defined in several ways, in common usage it's just what it sounds like:
the investment potential that you, as an employee, offer to your
company.
And like any other resource,
you're only as good as your ROI. The harsh realities of survival in the
Great Recession have hammered this point home to employers and employees
alike. As a modern worker, you've got to be hardnosed about
your ultimate value to your employer. You ignore this at your peril.
Perform a tough, even brutal
self-assessment of your value, focusing on these factors:
- What are you really good at?
- What makes you special?
- What distinguishes you from your peers?
- How do you personally help the company achieve its corporate goals?
As a business resource, your
value is dollar-driven. A good rule of thumb is that you should be able
to prove that you've earned or saved the company at least three times
your base salary every single year.
You may not be able to
provide a specific dollar amount or percentage for your personal ROI,
but you should be able to demonstrate the fact that, without you, the
company would be worse off.
And never forget this: you
can't assume that anyone will automatically realize your worth. So in
addition to being able to prove your ROI when called upon, you need to
be proactive about stepping forward and demonstrating that hiring you
was a positive investment decision. This is especially true if you feel
you're undervalued. As the saying goes, the squeaky wheel gets the
grease; but be careful here, because obnoxious squeakiness can get you
the boot instead.
Demonstrate by your actions
and initiative that you're worthy. Then, be politely assertive, though
not aggressive, in pointing out your personal ROI to those who matter in
your organization-so that you can maximize your value both to the
company and to yourself.
Thursday, April 12, 2012
HOW TO ASK ANYTHING YOU WANT
One of life's fundamental truths states: Ask and you shall receive. Isn't that simple? Of course it is. The world responds to those who ask. Most people in this world, however, find themselves in settled lives, never really achieving or receiving what they hold in their dreams... because they just never ask.
There are many good reasons to ask, and the rewards are substantial. If you're not moving closer to what you really want, you probably aren't doing enough asking.
Reasons Why We Don't Ask
So, why do people stumble when they have an opportunity to ask? Five reasons, really:
Ignorance. Many of us don't know what to ask for. Either we don't know what is available to us because we have never been exposed to it, or we are so out of touch with ourselves that we no longer are able to perceive our real needs and wants. And, in many cases, we don't know who to ask, when to ask, or even HOW to ask.
Limiting and Inaccurate Beliefs. Since our childhood, we've been programmed by our parents, and through schooling, religious training and even the media to STOP asking.
Fear. Having learned all about rejection, embarrassment, vulnerability and hurt in our childhood and early adult years, we find it easier to settle for less than deal with the fear that's resulted from these past experiences.
Low Self-Esteem. Most of us feel unworthy or too inadequate to create the kind of life we want. As a result, we don't believe our needs and wants are worth pursuing.
Pride. Many of us are convinced we need to do everything for ourselves, or we'll look foolish or lose respect among our family and peers.
Take Control!
The truth is, when you take control of your life by asking for what you want and need, you can accomplish anything your heart desires. No doubt, you know of people who seem to walk into any situation and any relationship expecting success. They achieve success again and again because they've learned - and acted on - one simple truth: You will reach your goals only with the help of others.
What are common characteristics shared between people who've mastered the art of asking?
They know what they want. They are clear about their vision, purpose and goals.
They believe that what they're asking for is very possible.
They are passionate about what they are requesting.
They act even when they're afraid or feel fear.
They learn from experience so that they become better "askers" with every ask.
They are persistent. If at first they don't receive, they ask, ask, ask until they do.
You can turn your life around, regardless of the obstacles you currently face. Get clear. Get passionate. Take a giant step past that fear. And if at first you don't succeed, take this minor setback as a signal to you . . . to ask again!
There are many good reasons to ask, and the rewards are substantial. If you're not moving closer to what you really want, you probably aren't doing enough asking.
Reasons Why We Don't Ask
So, why do people stumble when they have an opportunity to ask? Five reasons, really:
Ignorance. Many of us don't know what to ask for. Either we don't know what is available to us because we have never been exposed to it, or we are so out of touch with ourselves that we no longer are able to perceive our real needs and wants. And, in many cases, we don't know who to ask, when to ask, or even HOW to ask.
Limiting and Inaccurate Beliefs. Since our childhood, we've been programmed by our parents, and through schooling, religious training and even the media to STOP asking.
Fear. Having learned all about rejection, embarrassment, vulnerability and hurt in our childhood and early adult years, we find it easier to settle for less than deal with the fear that's resulted from these past experiences.
Low Self-Esteem. Most of us feel unworthy or too inadequate to create the kind of life we want. As a result, we don't believe our needs and wants are worth pursuing.
Pride. Many of us are convinced we need to do everything for ourselves, or we'll look foolish or lose respect among our family and peers.
Take Control!
The truth is, when you take control of your life by asking for what you want and need, you can accomplish anything your heart desires. No doubt, you know of people who seem to walk into any situation and any relationship expecting success. They achieve success again and again because they've learned - and acted on - one simple truth: You will reach your goals only with the help of others.
What are common characteristics shared between people who've mastered the art of asking?
They know what they want. They are clear about their vision, purpose and goals.
They believe that what they're asking for is very possible.
They are passionate about what they are requesting.
They act even when they're afraid or feel fear.
They learn from experience so that they become better "askers" with every ask.
They are persistent. If at first they don't receive, they ask, ask, ask until they do.
You can turn your life around, regardless of the obstacles you currently face. Get clear. Get passionate. Take a giant step past that fear. And if at first you don't succeed, take this minor setback as a signal to you . . . to ask again!
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