Tips and techniques for achieving success in business.

Investing In "YOU"

When people talk about investing, they immediately think of investing money somewhere. Maybe in real estate, in the stock market or possibly bonds or maybe something relatively safe like CDs. They may strategize and make sure their portfolio is “diversified.” However, when I talk about investing I like to think about how you can invest in yourself. After all YOU are one of the greatest assets you can invest in.

Why Do People Fail?

If you have read enough articles and books or listened to the many self-help experts out there you will find consistent factors as to why people fail. We could be talking about many different kinds of failures. Certainly business failures but also failures in many other endeavors such as weight lose, improved health, relationships and so on. The two common denominators that I have observed with any failure seems to be the lack of planning and the lack of taking correct actions to achieve that plan.

What Do These Objections Mean?

When selling your services or products I’m sure most of you get objections much like I do. “I would like to think about this,” or “I don’t have time to do any of this,” or “I’m not ready yet,” or “That seems expensive,” or “Call me back in a couple of months.” What does all this mean? Most likely they are afraid of making a bad decision. If they spend the money and it’s the wrong product or service they will look foolish. And no one wants to look foolish. How do you overcome these fears?

Changing Habits

We all have them. Some of them good, some of them bad. Habits are those things we do without too much thought. We kind of go through our day and they just happen.

Help! My Sales Have Fallen and I Can't Pick Them Up!

We’ve all experienced it. Sales have been down and for some reason you can’t get out of the hole. Cash is tight. You start to get nervous. You start to blame everything around you. The economy is in the tank, your prospects won’t return your calls, your proposal didn’t get mailed on time, your car broke down going to an appointment . . . on and on and on. Ok, many of these things could be a cause for a slip in sales. But then these are all things out of your control. So what can you control? The answer to that is . . . yourself and the actions you take!

Your Attitude, Your Choice

I have recommended to many of my clients the book titled “FISH”. It’s a book about how to improve moral in any organization and thereby improve results. There are actually four principles in the book but, I think, the most important one of them is called “Choose Your Attitude.” The philosophy goes something like this. When you go to work, or run your business, or do just about anything in life the attitude you bring to that event is your choice. And depending on the type of attitude you bring will primarily determine the type of experience you will have.

The Cash Gap

In a previous post, I talked about planning and managing the financial aspects of your business. Included in that was the importance of managing cash flow. I’d like expand on that principle and specifically talk about the concept called “The Cash Gap.” What is the cash gap? Well, it’s simply the number of days between when you have to pay for things in your business and when your customers end up paying you. For example, you might have to buy materials to produce a product or buy inventory to stock your shelves.

Plan and Count Your Beans

As a former Director of Corporate Financial Planning for a large corporation and with a degree in accounting I have heard my share of bean counter jokes. Like this one: “what does an accountant use for birth control . . . his personality.” Jokes aside, for the past six years, as a business coach, I have found that my financial background has helped me teach business owners how to run their business more effectively.

Goals and Resolutions — How To Get Them Done!

It’s an annual ritual . . . setting resolutions and looking at the goals we want to achieve in the New Year. How did it go last year? Did the goals and resolutions you made start to fade after just a few months? Did you start out gang busters only to look back at the end of the year not even getting close to the goals you set for yourself and your business? If so, either you did not commit fully or face it; you don't have the resolve to make the changes on your own.

If It Ain't Broke, Should I Still Fix It?

When was the last time you really took a close look at how you are doing things and asked yourself “how can I do this faster, cheaper, simpler and easier while maintaining quality and customer satisfaction?” In the “old days” this might be something you look at once every couple of years. However, in today’s highly competitive and rapidly changing environment I would suggest you need to ask yourself this on a daily basis. Otherwise you might find yourself left in the proverbial dust.

Keep 'em Coming Back

Many businesses spend a lot of time and money trying to get new clients. It seems to be an ongoing process. So much time is spent generating leads, having conversations, submitting proposals, trying to close the sale. Unfortunately, I witness many businesses not spending as much time trying to get their existing clients to return. Once you have a customer why not spend some resources to get them to spend more with you?

Seal the Deal

You have generated the leads and set up appointments with qualified prospects. You have read all the sales training books and are ready to close some sales. You go on your appointments and follow the process you’ve learned. You build rapport, you ask the questions, you expose their pain, you offer the solution, you deal with the objections and you ask for the order. After all of that you still get “I want to think about it.” Or “I’m not sure this will work.” Or “I have to review this with my (boss, spouse, colleague etc). In the end you have difficulty sealing the deal.

Warm Up to Cold Calling

Most business people hate cold calling. Why is that? Primarily it is fear. Fear of rejection. Or maybe fear that you will be perceived as being aggressive or pushy on the phone. Or just that you are uncomfortable interrupting someone during their busy day. Whatever the issue is, I highly encourage you to get past these uncomfortable feelings.

The Bad Perception of Salespeople

In a recent workshop I facilitated I openly asked the business people in the room what they thought of salespeople. Now, mind you, most of the people in the room were business owners or employees all of which had a major role of growing their respective businesses. Here are some of the things I heard. “They lie.” “They’ll do anything to get the sale.” “All they care about is their own commission.” “They are irritating.” “I feel like I need to take a shower with antibiotic body wash after I deal with one” (actually, I made the last one up myself).

Do You Own a Business or a Job?

I’m sure you have heard these statistics before. Fifty percent of all businesses fail within two years, 80 percent fail within five years, and most businesses never come close to the original projections for revenue and profit.

Dealing With Employees During Hard Times

Managing your business during hard times is difficult. But managing people, the culture, the emotions, the behavior, can be doubly difficult when the business isn’t doing that well. Especially if you had to let some of the staff go. How do you keep the team upbeat and motivated when all there seems to be is bad news? How do you get the best out of your people during such times? There is so much uncertainty that employees seem to be constantly looking over their shoulder. Here are some ideas that may help you.

Staying Focused

How many of us have vowed to get back in shape? We want to start working out on a regular basis and lose that extra few pounds. So we join a gym or start an in home exercise program. We are gangbusters for the first couple of weeks but there is that one morning when we wake up and say, “maybe I’ll skip today, I just don’t feel like I have it this morning.” Then you try to get back into your exercise routine but you start exercising only three days a week instead of four. Then it goes to two days a week and then you get to the point you haven’t exercised in over a month.

How to Take Risks

As many of the people I have met know I am an avid golfer. Playing golf in this part of the country is primarily a summer sport unless you’re willing to layer up and confront the cold, which I am not. So what do I do in the winter months? This is where many people that I know are not aware of another passion I have. That is playing pool. I have played pool since my teenage years (some would say an ill spent youth) and take it very seriously. I have played every game imaginable on a pool table and constantly seek to increase my skills at the sport.

Making Mistakes

Who hasn’t made a mistake? We all have at some point. We would all like to think that we are perfect but we all know that is impossible. Yet we all try our hardest not to make mistakes. Some of us even get very anxious about it to the point it paralyzes us from doing things. We get fearful of making a mistake. It might make us look bad and maybe even embarrass us. These thoughts, of course, come from deep beliefs that were probably ingrained in us since we were young children.

How to DELEGATE

As a business owner are you exhausted at the end of the work day? Are you tired of doing everything yourself? Are your team members unwilling to make decisions and are coming to you for even the smallest of issues? The truth is that most business owners, who are skilled at just about every task in their company, struggle with the one thing that can make a big difference . .