Proven programs that grow great businesses for great people who care.
Online coupons really are forever — or at least five years.
Have you been tempted to buy online coupons, called “daily deals”? They are offered for spa treatments, restaurants, “boot camps”, hair salons or any one of a huge variety of other tantalizing things for half price or more. Maybe you bought one but didn’t use it. Maybe you threw it away because you thought it expired.
Good news. [Read more…]
Business Challenges: What Goes Up Must Come Down
Sir Isaac Newton statue from Trinity Chapel. Photo by Harlequeen.
Sir Isaac Newton proved it. David Clayton-Thomas wrote about it in the “Spinning Wheel” song. BS&T (Blood, Sweat & Tears) and Dame Shirley Bassey covered it in their albums.
Songwriter & singer Dame Shirley Bassey.
How many ups and downs has your business experienced? Since we started our business, we have been through seven ups and downs – oil, banking, real estate, savings and loans, dot.com, Wall Street, and now real estate again. It has caused us to refine and redefine our business at least that many times.
If it’s a part life, it does not make sense just to try to survive this one. Another wave is coming. If you own a business, the wave that could take you under could be something global like this “Great Recession” or something unique to you and your business. So be watchful; be prepared for those business challenges that are out there.
Rodin’s “The Thinker” could have been named “The Introvert”. Photo by James Whitesmith.
Networking skills are not the exclusive property of extroverts. Introverts have them, too.
Not the belle or beau of the ball? Don’t do well in groups? Are you kind of shy or just hate playing the networking game? You can still be a great networker. The best part is, you don’t have to and shouldn’t change you.
You do have to play by the rules. Networking is a balancing act; give and take. It’s not just about sales or prospecting. Although these can happen. You can also use it for finding friends, jobs, fun places to go or avoid, and a million other things. Think about it as a combination of a “net” which gathers things in and keeps things out and a lot of hard “work”. Believe me, it doesn’t come easy to extroverts either although it may seem that way. [Read more…]
Franklin was right. Photo by Paul Hudson.
In 1789, Benjamin Franklin said in a letter that there are only two things you can be certain of death and taxes.
He was certainly right about the taxes. Especially sales tax. We are hearing from clients and accountant colleagues about the increase in sales tax audits. These are turning out not to be friendly, let’s talk audits but somewhat nasty, prove you’re innocent audits where the assumption is that your business is not paying what it should.
The real issue is not whether you’re paying but whether you’re collecting, then paying. Since that’s what you are really doing. You’re the Sheriff of Nottingham and Prince John wants his due. [Read more…]
Price right. Image by TW Collins.
There’s nothing wrong with Cost-plus or Value-based pricing when they are done right. Both are good strategies but incomplete in my opinion.
In the case of Cost-based pricing, basically you look at the costs and then add a percentage for profit on top of that number to arrive at a price.
In my experience, those who set the prices don’t know, forget, or leave out costs that they shouldn’t. Sometimes it is the cost of the salary of the principals or putting in enough for contingencies. Just as often they don’t include all the costs involved in being able to provide this product or service before and after getting customer #1. Then there are the true total costs to support and maintain this customer with this product or service. [Read more…]
GoLocal, a great rewards program, based in Austin, Texas, to encourage people to buy locally.
I have just finished a five-hour sales training session for Go Local an Austin, Texas company that is licensing its program nationwide to encourage people to support their locally owned businesses and buy locally. This is a great marketing tool for businesses and reward system for new and existing customers. Even though some of the licensees had sales experience, their questions and concerns prompted me to put together this list of sales concepts that I consider critical to success.
It starts with agreeing with the first “golden rule”. [Read more…]
Business Success Center prospects tell us in their initial meeting they want a “Mentor” to advise and guide them to solve a specific problem or achieve a specific goal.
I completely understand. I’ve had several wonderful mentors. My godmother, Northwestern University professor Alvina Krause, had “teas”. At these salons, I learned the fine art of conversation. My grandmother taught me the importance of family. My mother helped me find my voice and be comfortable being myself. She always said, “We grew up together”. Maybe so, but she was my guide.
There were important male mentors, too. My brother Bill (aka WC Triplett, II) has worked for Presidents and Senators, Tibet and Tienanmen, written best sellers and significant treaties. He showed me how important it is to get involved. Ed Van De Vort gave me confidence because he believed everyone was capable. [Read more…]
Your best customer wants something specific to happen when they use your product or service.
It’s common wisdom that what people want is a solution. There is even a school of sales training and many books around the concept of “solution selling”.
I disagree. Not everyone wants a solution, i.e. something solved.
Sometimes they want and need something else. Not everything is a “problem” for a customer; sometimes, it’s a “gap” that needs to be filled. I talk to my clients about “gaps” not “problems”.
I referred to these five valued outcomes in my “Best Practices in Pricing” session at ProductCamp Austin. (My slides from the session are on Slideshare .)
In my 30 years experience, there are actually six different results a customer values. The one to stress as a benefit and to base your product or services features depends on the Platinum Customer Profile™ of your best customers. [Read more…]
Posts can be very personal. This one is.
Visualizing the needs & concerns Egyptian small business owners, their families and their employees like this man. Photo by Julie Gomoll.
I have a friend, Rasha, who is from Egypt and who has family there. My thoughts are with her and the wonderful people I met through the eyes, words, and pictures of another friend, Julie Gomoll.
Sometimes we say, “I can’t imagine” what it’s like. But I think business owners and other creatives can imagine in huge detail. [Read more…]
Price right & reap your reward. Cartoon by Roger Stewart, Porthole Productions.
I have proposed a topic, “Best Practices in Pricing”, for ProductCamp Austin. If you’ve never been or ever heard of it, it’s a great day of free business information for product managers, business owners, and those thinking of starting a business. Attendees select the topics the day of the event so they get to hear what they are most interested in that day.
Although the session has sold out, there is a waiting list. I encourage you to get on it. For more information on Austin Product Camp, go to http://productcampaustin.org. For information on my session on Pricing and the 39 other great sessions, go to http://bit.ly/e6chc0. [Read more…]