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There is an Art to Selling
Tuesday, June 5, 2012, 7:57 AM
[General]
There are some famous salesmen and pitch men; pitch men are power sellers that can take any product and move it; usually you will see them on the infomercials. They are good at convincing people to buy what ever it is that they are selling, these guys are full of life, very energetic,Cheap Harry Carson Jersey, speak loud and clear, they get your attention that is what you have to do. Timid people don't make good sales people. That's just a label; timid, do not accept that you are shy,Cheap Keith Bulluck Jersey, or timid if you want to sell, then just do it. If you keep at it you will learn and master the art of selling; just like a painter masters his art,Cheap Adrian Clayborn Jersey, or a musician or any artist.
Selling things to people face to face is easy, once you get over the fear, once you get over your shyness, once you change your way of thinking from lack of confidence to confident. When you realize and believe who you really are. Selling will be easy. Selling is easy. If a person wants to be a master seller, read study, and practice. Get out and sell, be motivated to get your money. I think that any one that applies them self to selling,Cheap Rey Maualuga Jersey, has to be making progress toward being a better person. Only someone that is strong, and believes in them self will make it; in a sales business if you don't sell you don't get paid. Maybe when the gas and the lights get cut off you will make a move and do what you have to do. No one can give you all the answers; we can only show you the way. If some one could give you all the answers to any question you could ask you would still have to apply that to your life there is no magic you still have to take action, get it going.
Just like every thing else that requires skill; selling too is an art, some people seem to have it naturally. Some have to work hard at it; Experience is the best teacher. It is good to have a mentor or a coach. It is good to sell with someone else. A good friendly competition can be very motivational. Talk to top sellers and they all have at least one thing in common. They all have learned how to be people persons. You have got to have people relate to you,Cheap Arizona Cardinals Jerseys, you have got to be present you have got to work at selling every chance you get.
How to Increase Your Sales by Better Time Utilization
Tuesday, June 5, 2012, 7:56 AM
[General]
By doing these three things you'll find that,Cheap Bruce Matthews Jersey, without working any harder, your sales will rise because you have more time to spend with prospective customers.
The next thing to do is to establish a set time each week for each customer. At this time you will be able to communicate with all your customers to keep them updated on the progress of their orders,Cheap Rodgers-Cromartie Jersey, resolve any problems and answer questions. You can also use this time to advise your customers if there are any special products that are going to be available, any special offers, sales or even changes of personnel in your office.
Save time by creating e-mail templates. Go back to the e-mails that you have sent over the last month and design a series of templates that you can quickly and easily customize to each customer. All you have to do is to put in the customer's name and a little bit of specific writing in each one. This means that each e-mail will only take less than a minute to complete and send off.
One of the quickest ways to organize your selling time is to plan the times of the day that you are going to return phone calls and answer e-mails. Establish a morning and an afternoon time for these tasks. Put the times on your voicemail for your office and your cellular phone. Make sure that you attach these times to your e-mail signatures and do everything in your power to ensure that prospective customers,Cheap Roddy White Jersey, existing customers,Cheap Pierre Garcon Jersey, your colleagues and your boss know when you will return their calls and e-mails. When you start this regime make sure that you are consistent and that you stick to it.
As a salesperson you know that the more time you spend in front of prospective customers the greater your volume of sales will be. Regrettably, some days it seems like there's a conspiracy to prevent you getting in front of your customers. You go to your office bright and early and immediately get bogged down in phone calls,Dallas Cowboys Jerseys, e-mails and answering questions from your boss or colleagues. The best part of your day is shot and you haven't achieved any of the things that you had planned to do. Working under these conditions can be so frustrating because you go home at the end of the day wondering what happened to your good intentions.
You can waste the greater part of each day by constantly answering phones and e-mails. The majority of these incoming interruptions are not important issues. However, if you are running a business and you need to be available throughout the day for emergencies, get another cellular phone and only give the number to people who may need to reach you in an emergency. Make sure that they know that the number is only to be used in a proper emergency only.
Dress For Success When Job Hunting
Tuesday, June 5, 2012, 7:56 AM
[General]
Let's assume you're interviewing for a sales position. Here are several questions you can ask the interviewer.
The photograph was very telling, at least for me it was. Wearing jeans to a job fair is like jumping from a plane without a parachute. What were these people thinking?
What are your criteria for making a hiring decision?
How do you measure the success of your new hires during the first 120 days?
These tips will help you dress for success when job hunting.
When you look in the mirror what do you see? What you see in the mirror is what your potential employers will also see.
Avoid pouring on the cologne and perfume.
Be conservative when it comes to wearing jewelry.
What are the responsibilities of your salespeople?
As you get ready for your job interviews remember if you want to look fit and trim, it means you have to be fit and trim. You are a walking Billboard during every job interview.
What qualities are you looking for in your salespeople?
Your fingernails should be trimmed.
Choosing the right attire is more complicated than ever.
What are the biggest challenges your salespeople face?
Probably - they weren't thinking.
During a job interview how you are dressed can set the tone for the entire interview.
When it's appropriate,Cheap Jake Long Jersey, ask some good questions.
These questions will turn heads and may open the door to the second interview.
In sales,Cheap Touraj Houshmandzadeh Jersey, first impressions are often lasting impressions. You have to look good and of course you have to sound good too.
There were dozens of employers interviewing hundreds of job seekers. Will Rogers once said, "You never get a second chance to make a good first impression."
A few weeks ago there was a picture in the business section of my local newspaper. The article accompanying the photo was about a Sarasota job fair.
Your clothes should be cleaned and pressed.
The safest colors to wear to job interviews is navy, dark grey, and black.
The color of your belt should match the color of your shoes.
Another small point is to keep your shoes shined - especially the heels which can get scuffed with all the driving you do.
The recession we've all experienced during the last few years has kept people in jobs they don't like. It also meant a lot of people lost their jobs.
You're more likely to underdress than overdress. Your best bet is to call the Human Resources Department and ask,Cheao Mike Thomas Jersey, "What is the appropriate dress for an interview?"
The best advice I've ever seen on buying clothes, and I wish I could remember the author's name but I can't,Cheap Johnny Knox Jersey, "Is to buy half as much and spend twice as much."
Always dress for success when you're job-hunting.
Here are some tips to help you create positive and dynamic first impressions.
So always dress for success when job hunting.
Interviewers are making yes / no decisions in less than 10 seconds.
I am an optimist and believe things are starting to turn around for the better which means more people will be job-hunting for better positions.
When it comes to your hair,Cheap Brett Favre Jersey, it should be well groomed.
Here's another big tip for you to consider.
And of course - no visible body piercing.
I know you're probably thinking that's a no-brainer. Unfortunately not everybody has brains!
Just remember your clothing is the first and fastest clue your interviewer sees.
Your appearance can establish credibility and build rapport for you.
Death of a Salesman
Tuesday, June 5, 2012, 7:56 AM
[General]
Find your niche. Don't try to be everything to everyone.
That's not to say that you should meet with a prospect and then ignore them until they decide to pick up the phone and call you again. You should touch base periodically, but do so in a way that demonstrates your continued mindfulness of and investment in their needs. Reassure them that you're ready to hit the ground running if and when they choose to move forward.
In today's marketplace, growing your business is as simple as building relationships - something you've been doing your entire life.
The salesman loves the 30-second elevator pitch. He comes out swinging right off the bat with a perfectly polished speech about how wonderful his products or services are.
The relationship-builder doesn't talk in bullet points. He paints a picture of the end result.
The salesman is dead. Long live the relationship-builder.
Ultimately what you're really looking for are the questions, concerns, issues and insecurities that keep them up at night. If you walk in and show them that you understand their challenges from their perspective, they'll be more easily convinced that you also know how to overcome them.
To be accepted by their community, you must first contribute. This will likely require being an active participant in social media channels, where you can interact directly with current and prospective customers in ways that are helpful, insightful or even entertaining. This also almost always requires ensuring that your own online home base - your website - provides value beyond compare in its free content offering, whether that takes the form of blog articles, videos or other types of resources.
If you are given the opportunity to meet with a prospect, gather as much intelligence as possible beforehand. After all, when you have the entirety of the Internet and its infinite font of information at your disposal, why not use it?
The salesman is a great closer. Once he has a signature on a contract and money in hand, his job is done, and he has already long since turned his attention to his next target.
Just be yourself and do what comes naturally. Focus on serving others. Have conversations. Talk plainly but with authority. Be authentically helpful. Let your expertise do the heavy lifting. Lead the way to success for your prospects.
The relationship-builder demonstrates a different brand of confidence - one rooted in the foundation of authentic expertise and experience.
So what's the solution? Forget everything you thought you knew about sales.
Do your homework. Don't make assumptions.
We've said it before, and we'll say it again: you must be identify the tribes of people who represent your target market, find the places where they live online and earn your right to walk among them as a leader.
The relationship-builder endeavors to establish a foundation of trust before ever asking a prospect to entrust him with their time, attention or hard-earned dollars.
What can you learn about the person you're meeting with? What is their professional background? What experiences or interests do you have in common with them that can help you break the ice? What's the story of the company they represent? What does their competitive landscape look like? What opportunities can you see that they might not be taking full advantage of? You'll be amazed at what spending a few minutes with Google, LinkedIn, Facebook and Twitter will reveal.
If you're like most entrepreneurs, you love what you do. You have a passion for your ideas, your products and your services. But you hate selling those ideas, products and services with a passion, too.
The salesman cold calls. His is the Russian roulette approach to business growth. He spins the wheel and hopes for the best.
The relationship-builder does the legwork necessary to ensure that the relationship starts off on the right foot. He recognizes that no two customers are alike, and if he doesn't have a fundamental understanding of the problems they face, how can he propose to address them?
Think of every interaction you have as an opportunity to cement their continued loyalty. Don't just meet their expectations; exceed them at every turn.
Have a conversation. Don't make a pitch.
Remember: a pitch is a push; a conversation is a two-way street.
After all, as a relationship-builder,Cheap Terrell Davis Jersey, you must be willing to give away some of your time and expertise in order to plant the seeds of trust and open the lines of communication. But the benefit of your efforts is that when someone is ready to pull the trigger on a buying decision, your name will be the first - and maybe only - one on their call list.
The key to convincing prospects that you are their best choice is truly believing that you are, in fact, the best choice for them.
The salesman has a laundry list of features that he wants to make sure he conveys to a prospect so they know just how special his product or service is.
Pull,Cheap Jerricho Cotchery Jersey, don't push.
The relationship-builder never closes. He pays attention, he nurtures,Cheap Mark Ingram Jersey, he earns the right to continue serving the customer's needs.
When you're trying to grow your business, it's tempting to cast your net far and wide to reel in any and every prospect that crosses your path. But grasping at straws is no foundation for long-term, mutually beneficial relationships.
The relationship-builder asks questions first. After all, this meeting is about serving the prospect's needs, not his own.
Say goodbye to your days of being a salesman once and for all. Here are the dos and don'ts that will guide you in building relationships that lead to business growth.
R.I.P., Mr. Salesman. Hello, Mr. Relationship-Builder.
The salesman is unshakably confident - to such an unnatural degree that he comes across as phony and affected, as if he's merely putting on a well-rehearsed show.
Be a nurturer,Cheap Shawne Merriman Jersey, not a closer.
Remember that every touchpoint - whether it occurs in person, over the phone or via email - represents another chance to strengthen the bonds of trust that exist between you.
Tell a story, don't tout features.
Remember that this person and this company have decided to take a chance on you. To them, it's still a roll of the dice at this point. This is your opportunity to prove to them that their gamble will pay dividends in the realization of the future success you promised.
The relationship-builder lets the customer decide when they're ready to take the relationship to the next level because that's what serves the client's interests.
Don't become so wrapped up in your own presentation that you steamroll over your prospect. You should listen at least as much as you talk. Make sure you truly hear what the prospect has to say. Pay close attention to their body language and facial expressions for cues that can help you steer the discussion in directions that reinforce their trust in you.
Tell your prospect the story of their future success and how you're going to help them achieve it. Give them a reason to believe why will it work, what will it be worth when it does and why are you the one that can make it happen.
While it is important to do your homework before a prospect meeting, don't make the mistake of assuming that you already have all the answers you need. And certainly don't script out the interaction.
The salesman wants a commitment today because that's what serves his interests.
When you find the people that you are meant to serve, convincing them to let you help them reach their goals is a much less difficult proposition.
"Closing" is a dangerously misleading term - one that is symptomatic of the old school of sales. When a customer makes the choice to do business with you, you're not closing anything. You're only beginning the process of cultivating a relationship with someone whom you hope will be a lifelong client.
If you approach the process of growing your business as a mission of earning trust and building relationships with people rather than just closing one sale after another, you'll find that it's not a dreadful task at all but rather one that's actually enjoyable and even rewarding.
So what are you waiting for? Get out there and start building!
Ask a lot of questions. Confirm the conclusions you drew from your research. Be prepared to improvise. You know your business, and if you've done your due diligence,Buccaneers Jerseys, you know their business pretty well, too, so there's no need to be apprehensive if the conversation takes an unexpected turn.
Follow the guidelines we've outlined here, and you'll inevitably find that your prospective customers respond positively to seeing that their needs come first and that you have a genuine interest in helping them advance their own goals.
And never stoop to tearing down the competition. Unless your prospect broaches the subject, there's no reason even to acknowledge their existence. This is your time to shine; make the most of it.
When you talk to a prospect, speak with authority, not arrogance. Demonstrate that you are a master of your field, but interact with them as an equal. Relate to them as one person who understands the challenges of growing a business to another.
Be patient, not pushy.
And you know what? Your customers hate being sold just as much as you hate selling them.
There's no magic formula for success. You don't need to be a fast-walking, smooth-talking salesman to get people's attention. You don't need to put on a dog-and-pony show to convince them you are the best at what you do. Flash isn't what's going to get the job done.
The salesman has a one-size-fits all pitch for every customer. His product doesn't change, so neither does his approach.
The relationship-builder can say with confidence that he is the best man for the job because he knows his strengths and his customers' needs well enough to know that it's true.
Be authoritative, not arrogant.
This type of self-assuredness starts with knowing where your depth of expertise lies and identifying those who can benefit most from it. This requires you to be resolute in defining your service niche, clear in identifying your target audience and focused on finding ways to connect the dots between the two.
The salesman will eagerly talk the ear off of anyone and everyone that will give him the time of day, regardless of whether they have any real use for his products or services now or in the future.
How to Whitewash Your BIMBO, A Business Sale Phrase Book - 2
Tuesday, June 5, 2012, 7:56 AM
[General]
Letter of Intent - see heads of agreement.,Cheap Brian Urlacher Jersey
SAV Stock At Value - stock to be purchased at the value on the day of sale. Valuation will normally be determined by GAAP.
P/E Ratio Price/Earnings Ratio - a measure of how many times the current level of earnings someone is prepared to pay to acquire an interest in a company. A high P/E multiple usually indicates an expectation of high growth (as then E is expected to grow significantly reducing the P/E ratio down to a more normal level). The inverse of the business's yield.
Secondary Buy-out - the sale of an interest in a company by one VC to another. Generally unpopular with VCs as it is sometimes seen as a sign of 'failure' by the first investing VC.
Heads of Terms - see heads of agreement.
IRR Internal Rate of Return - the discount rate at which a net present value calculation gives a zero result, which in turn means that the discount rate equates to the return generated by the project or investment.
Open Market Value - also known as fair market value,Cheap Christian Ponder Jersey, how much an asset will fetch if sold in the open market. See also ERP.
NPV Net Present Value - the value of a discounted cash flow, less the amount of money you have to pay to acquire it.
Sales Mandate - an instruction to a corporate finance advisor to act to sell your business.
Prospectus - a package of information prepared for provision to potentially interested investors in a flotation.
Yield - the amount of return received (E for earnings) for the price (P) paid. Usually shown as a percentage.
TUPE Transfer of Undertakings Protection of Employment Regulations - the rules which govern the treatment of employees on the sale of a business and which will broadly make a purchaser responsible for taking on all the employees of the business being acquired (whether by sale of shares or business and assets) on the existing terms and conditions of service. Also provides that if employees have been made redundant in anticipation of, or in an attempt to avoid the purchaser having to take this responsibility,Cheap Jason Pierre-Paul Jersey, the purchaser will in any event be liable. There is a limited exemption to this rule in buying businesses from some forms of insolvency proceedings.
Insolvency - being unable to pay debts as they fall due or liabilities exceeding assets. The Insolvency Act sets out a number of tests including failure to deal with a statutory demand or to pay a judgement debt which will be taken by a court as proof of insolvency.
Heads of Agreement - the document that sets out the price that has been agreed for the sale and the key terms, subject to due diligence and contract.
IPO Initial Public Offering - the American terms for a flotation; taking and listing a company for the first time on a stock exchange.
Information Memorandum - see sales pack.
Target - a company to be acquired.
Listing - floating a company on a public stock exchange.
OFEX - the 'over the counter market' which is a privately traded listing where shares are dealt in on the basis of individual trades. Often used by small companies to obtain speculative money as an alternative to venture capital, but is significantly less liquid than other stock market listing as there are no active market makers trading the shares.
Section 320 - provision in the Companies Act that prevents a director purchasing substantial assets (broadly anything worth more than 100,000 or 10% of the net assets of the company) without first obtaining the consent of the shareholders.
PBIT - see EBIT.
Transaction at Undervalue - selling an asset at less than its fair value. In the event of an insolvency, a liquidator will review significant transactions preceding the insolvency and can act to set aside transactions at undervalue.
Payback Period - how long it will take to recover an investment at current level of earnings.
As with any type of work, how to value a business and how to manage a business sale have their own professional jargon. This pair of articles are designed to give brief plain English and practical explanations for some of the common terms used, from Grooming to Yield.
Stock - 1 a company's equity or share capital,LaDainian Tomlinson charger Jersey, colloquially: shares. 2 A company's trading stock comprising raw materials, work in progress,Cheap Demaryius Thomas Jersey, and finished goods stock.
Trade Purchaser - an industrial buyer of companies (as opposed to a financial purchaser such as a VC).
Post Acquisition Integration - the process of change planned by a buyer in order to absorb the purchased business into their existing organisation.
Non-embarrassment Clause - the right to share in any increased sales proceeds if your buyer sells your business on again within a specified time.
Sales Pack - a package of information prepared for provision to potentially interested parties.
Preference - putting one creditor in a better position than others. In the event of insolvency a liquidator will review transactions leading up to the liquidation and if certain conditions are met will seek to set aside any preferential transactions.
Whitewash Agreement - Section 161 of the Companies Act is designed to prevent asset stripping, by prohibiting the pledging or use of the company's own assets for the purchase of the company's shares (so the purchaser cannot promise to pay the seller out of the proceeds of selling the company's assets once he has control of it, or borrow the money for the purchase by offering the company's assets as security). In many private company sales however, the only way that purchasers are able to raise funds to buy the company is by borrowing against the assets to be bought. An exception is therefore allowed to the 161 rule involving the preparation of a report by the company's auditors, known as a whitewash agreement.
Phoenix - a buy-out of a business from insolvency by the existing management.
Venture Capitalists - a firm set up to hold investors money and to invest it in high growth opportunities. Generally look to achieve a return of 30% per annum and hold investments for three to five years before selling. Generally tend not to be interested in deals below say, 1.0million investment. (See equity gap; business angel)
IPR Intellectual Property Rights - includes everything from patents and proprietary information to brands and trademarks.
Grooming - the process of preparing a business for sale to make it attractive to a purchaser. Can take up to two years.
VC - Venture Capital or Venture Capitalist.
Anchoring and Price
Tuesday, June 5, 2012, 7:56 AM
[General]
I'll leave the implications of this up to you.,Cheap Plaxico Burress Jersey
The Israeli American psychologist Dan Ariely has done extensive research on the psychology of pricing,Steelers Superbowl Champs Jerseys, that is to say, people's behaviors with regards to the prices of goods and services we encounter. He interest in price psychology was piqued when he first visited a pricey chocolate store. There he had before him an array of incredibly delectable truffles with equally incredible prices. "I was thinking about what I wanted," he said, "and I realized two things. One was that I quickly adapted to the level of prices. I didn't think about how much chocolate costs in the supermarket." The other thing was that "I was very susceptible--willing to take whatever suggested price the store was going to tell me was the right price to think about."(Ariely, 2009)Later Ariely became a professor of behavioral economics at Duke University. He is responsible for some of the most compelling demonstrations of how fluid prices really are.
As was expected,Cheap Lyle Alzado Jersey, the results from the experiment showed very clear anchoring (I should clarify that anchoring is the influence of perceptions by an unrelated stimulus, in this case, random social security numbers). Bidders that had "low" SSNs (defined for the experiment as those ending in the digits 00 through 19) were willing to pay an average of $8.64 for the bottle of Cotes du Rhone. Bidders with "high" SSNs (ending 80 through 99) were willing to pay $27.91 for the exact same bottle of wine! The same phenomenon occurred with the chocolates and the computer equipment. When all the experiment data was plotted on a graph (price one was willing to pay versus ending SSN digits),Cheap Patrick Kerney Jersey, the results are astonishing. The price bidders were willing to pay for each and every one of the items went up in lock step with their ending SSN digits!
One experiment that Ariely collaborated on was a silent auction of quality chocolates,Cheap Israel Idonije Jersey, bottles of wine, and computer equipment. The bidders, prospective MBA candidates at MIT's Sloan School of Business, were asked to write down the last two digits of their social security numbers (To serve as an anchor). Each bidder then had to choose whether he would pay more or less that that two digit number, in dollars, for each item being auctioned. Finally, bidders wrote how much they were willing to pay for the item (an actual reserve price). Winners paid with their own money and got to keep any items won. One of the auctioned items was a bottle of 1998 Cotes du Rhone. So as an example, my social security number ends in 78, so the first question I would have to answer is "Would you pay more or less than $78 for this bottle of wine?" The second question then is "How much are you willing to pay?"
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