Category: Sales

  • Are You Open to Getting More Sales?

    Are You Open to Getting More Sales?

    Isn’t it curious that sales, the lifeblood of every small business, is so damn hard to get right? You started your business because you believed you could make or do something that other people wanted, but then you struggle to find a way to talk about it with them so they’re moved to say, “How can I get some of that?” You want so badly to connect with prospective customers. You want so sincerely to experience your salespeople connecting with them. And it hardly ever feels like there’s enough connection going on, enough excitement about the product or service you’re so invested in, and enough prospects turning into customers.

    If you want to turn that around, first think about building a sales system in your company. Then consider this rarely appreciated notion: Sales is not about closing. Closing is an ‘old school’ idea that may work for those ‘hard-core’ salespeople, but it leaves everyone else feeling like everything that just happened was ‘wrong’.

    Sales is about opening. It’s about facilitating prospects with care in opening about what they really want and need. It’s about giving them room to feel what they’re feeling. Of course, prospects want things like product knowledge, insight, and solutions from the people they buy from. But, if you want your sales process to feel both meaningful and fun, and maximize your lead-to-sale conversions, you have to learn how to give your prospects an opening experience.

    Fortunately, the problem and the solution are one and the same. People—all people including prospects—speak in symbolic expressions. A symbolic expression is a ‘shorthand’ people use to capture a set of experiences and the meanings they associate with those experiences.

    Let’s look at an example, a symbolic expression may be: “We’ve made some mistakes in hiring.” It means something very specific to the prospect that he or she isn’t sharing. If you receive those words, without entering your prospect’s reality, you’ll create horizontal or superficial movement in your sales conversations. When you assume you understand people—when you really don’t—you leave them feeling disconnected from you, whether they’re conscious of it or not. Horizontal movement is what happens in most sales conversations. It looks like this:

    Prospect: We’ve made some mistakes in hiring.
    Salesperson: Hm, how many employees do you have?

    Prospects express something that has meaning to them that they’re not revealing, and the salesperson barely registers it and then changes the subject. The more prospects experience that you’re not curious about what they mean—again, whether they’re conscious of it or not—the less they’ll feel your interest in them. Your interest in them—your willingness to enter their reality—is the most meaningful gift you have to give your prospective customers, whether they buy it or not. Because, most likely, no one else is interested in their reality and they’re starved for it.

    Every symbolic expression is an opening opportunity, an opportunity to help prospects open up about what they really want, what they really need, and how they are really feeling. Opening opportunities create vertical movement in a sales conversation that takes people on a journey that is new, real, and alive. Here’s what vertical movement looks like:

    Prospect: We’ve made some mistakes in hiring.
    Salesperson: Oh, what mistakes?

    Sounds simple, but if you were to listen to recordings of your sales calls or those of your salespeople, you’d be shocked to find out what a tiny fraction of the time that level of ‘contact’ is happening. If you start orienting your listening to hear the symbolic expressions/opening opportunities offered by people in conversations—whether they’re with your prospects, employees, friends, or your spouse—you’ll begin to see how much people say that’s a door to a deeper level of what’s really living in them. When you can hear these expressions, try asking questions like:

    • What do you mean?
    • Can you tell me more about that?
    • When does that most often happen?
    • What’s that like for you?

    With practice, you’ll start to connect with people and enjoy your sales conversations in ways that would have never happened otherwise.

    One thing you’re likely to discover in the process, though, is how often people deflect or avoid answering the question you’ve asked. When people answer a different question than the one, you’re asking, notice it and find a way to ask the same question even a slightly different way—with as much real care as you can muster. Just because people aren’t accustomed to someone being interested in them doesn’t mean it isn’t worthwhile learning how to enter their reality and connect with them there. They may be surprised and even a bit uncomfortable, but they’ll appreciate it, whether they express it to you or not.

    If you’re not satisfied with the sales results you’re getting—if you and/or your salespeople aren’t connecting with enough of the prospects you get in front of—then do yourself a favor and assume there’s something you’re not creating in your sales conversations. Connecting with prospects means putting your reality aside long enough to meet your prospects where they are. Everything you want to accomplish in your business depends on it.

    #bizcoachstevef #business #stevefeld #smallbusiness #smallbiz #entrepreneur #marketing #leadership #coaching #businessowner #businesscoach #businesssuccess #businesscoaching #businesstips #entrepreneurship #success #entrepreneurlife #keynotespeaker #podcast #author #smallbusinessowner #speaker

  • YES!  I don’t want your business

    YES!  I don’t want your business

    Have you ever gone into a restaurant where you felt unwelcome?  Did you leave?  Do you continue to give them your money and feel unwelcome?

    How many times have you called a business to give them your business? Only to leave a message during operating hours, or be put on hold for longer than 10 minutes?

    How many times have you spoken to the owner of the business to get an estimate or proposal, only to never hear from them again?

    Have you ever heard a business owner complain they are not getting enough sales?  Then you give them a warm lead that they never follow up on?

    These are businesses that want the money but cannot perform any proper customer service to get the revenue.  They will complain about other businesses that provide this low level of customer service, but they are one of “those” businesses.

    A couple of years ago, I booked an industry expert (not on the sales side) to speak in front of 20 very active and profitable business owners regarding commercial insurance. More than half of these business owners are open to switching carriers right now.  I reached out to 8 local commercial insurance agency owners that I know who could help these business owners and connect them with their commercial insurance needs.

    I know what you are thinking.  WHAT AN OPPORTUNITY!!!  How would you like to get in front of 12 business owners who are actively looking for YOUR product or service?  And it didn’t cost you a penny, you didn’t have to pound the pavement, or smile and dial to get this opportunity, you didn’t have to beg or plead to get in front of them, you’re the expert and all you must do is show up, be you and educate these business owners.  Would you jump on an opportunity like that??  I know I would.

    Here’s what happened:

    • Two agency owners said no thanks-they were not interested. They were very large agencies and had too much business to take on more. In reality, they were both struggling for new business.
    • One said they didn’t have the time.  I don’t know about you, but I would find the time if it would translate into 12 large long-term sales.
    • I left voice mail messages for the remaining five agency owners.  Not one or two voice mails – but THREE voice mails all during their operating hours.  The voicemails were detailed and none of them were returned.  Plus, 3 emails to each one. Four of these agency owners are barely growing and tell me all the time they need more business. The fifth business is large and picks and chooses who they want as clients. They do lots of advertising.

    You may be thinking, are you kidding me? Really?  You’re making this stuff up. 

    This happens all the time and I hear it from prospects as well as fellow business owners. Businesses want more business but fail big time on the simple little actions that cause the biggest consequences.  If you are too busy to answer your phone during business hours, then put in a structured system on how the phones will be answered in your business.  If the receptionist is on the phone and the phone rings, have it routed to someone who could answer the phone. In one business HIGHLY successful business, they had implemented a structured phone answer system that was 6 layers deep (only 6 people worked there), and the calls were picked up before the fifth ring-most by the second or third ring. They were crushing their competition and always heard from the caller, “Oh wow, you answered your phone, the other company didn’t pick up.”

    This one simple thing could change your business. It’s also not just about answering the phone but being courteous and pleasant.  If you want business, then answer your phone.  Take care of the prospect.  If you get invited to speak to individuals who are open to purchasing your products or services.  Jump all over it and treat them like pure gold. 

    Just out of curiosity, I did reach out to the business owners a month after all this to see if they connected with the insurance agents. Not one of them heard from any of the agents. I never did refer any business to those agency owners ever again, nor will I ever allow them to win my business.

    What are you going to do today to improve one small thing in your business to take care of a prospect or customer?

    #bizcoachstevef #business #stevefeld #smallbusiness #smallbiz #entrepreneur #marketing #leadership #coaching #businessowner #businesscoach #businesssuccess #businesscoaching #businesstips #entrepreneurship #success #entrepreneurlife #keynotespeaker #podcast #author #smallbusinessowner #speaker

  • How to Make Sales during the Holidays

    How to Make Sales during the Holidays

    The Holiday Season is upon us, and for business owners and sales professionals, this time of year adds special challenges for maintaining focus on sales productivity. 

    The time between Thanksgiving and New Year’s Day is critical to any business that wants to start the next year off with a full pipeline of prospects. Many businesses get caught up with the familiar music, parties, seeing old friends, and spending time with my family, make the holidays special. Almost everything about the holidays is fun except – selling. During a joyous season, the sales environment can be brutal. You need to make time for yourself and your family.

    During the holidays you and your salespeople struggle to maintain activity targets while prospects and customers routinely put off decisions until the New Year. The good news is, that despite the challenges, you can take control, maintain your focus, and still close deals. The key is staying true to the fundamentals of selling and maintaining self-discipline combined with a sprinkle of creativity.

    One of the hardest things about selling during the holiday season is getting customers to act on buying decisions. They say they just want to wait until the New Year to make any decisions. To them, it makes logical sense to wait. Far too many salespeople willingly accept this excuse as logical, too. However, if you’ve been around selling long enough, you know that by the time you get to January, most of these deals will be cold.

    Learn How to Get More Referrals During the Holidays

    To have any chance of closing these deals you must strike while the iron is hot. You cannot allow emotions to wane. So, during this time of year, you must give your prospects and customers a more compelling reason to plan now than to wait until later. This means getting creative with your offer, price, value-added services, or signing bonuses. You may have to give up more to get the deal done than during other times of the year. 

    In sales, like it or not, activity is everything. If you are not prospecting, questioning, presenting, and closing you will fail – no matter what time of year it is. Of course, with all the wonderful (and not-so-wonderful) distractions of the holidays, it can be easy to slack off, and let your self-discipline slip and move away from your normal daily routine. 

    This slip has two consequences. In the short term, it hurts your closing ratio during December. In the long term, it impacts your sales pipeline during January, February, and March which can have a major impact on your future income.

    To keep this from happening to you, you must sit down with your daily planner right now and ensure that you have your calendar blocked properly for daily prospecting and lead generation, as well as information gathering, presentations, demos, and closing meetings. Consider all your holiday activities and build them into your planner. You may have to do some workarounds, but the key here is to get everything planned out in advance. To stay on track, set daily activity targets and commit to reviewing those targets each morning and afternoon. You will be amazed at how powerful this planning process is for keeping you on track and focused during the holidays.

    Most importantly, by planning and developing creative ways to close more business, you will find that you feel less stress, cash bigger commission checks, and have plenty of time to enjoy the holidays with the ones you care about the most.

    #bizcoachstevef #business #stevefeld #smallbusiness #smallbiz #entrepreneur #marketing #leadership #coaching #businessowner #businesscoach #businesssuccess #businesscoaching #businesstips #entrepreneurship #success #entrepreneurlife #keynotespeaker #podcast #author #smallbusinessowner #speaker

  • TEN WAYS TO GET BUSINESS-SMART

    TEN WAYS TO GET BUSINESS-SMART

    In today’s fast-paced, ever-changing business environment, being “business smart” is more crucial than ever. But what does it mean to be business smart, and how can you develop this essential trait?

    What is Being Business Smart?

    Being business smart is more than just understanding the basics of your business and industry. It’s about having the acumen to navigate complex business environments, make informed decisions, and anticipate changes in the market. Business-smart individuals possess a blend of analytical thinking, strategic foresight, adaptability, and an understanding of both the big picture and the finer details. They are resourceful, innovative, and capable of leveraging their knowledge and experience to drive success.

    Ways to Get Business Smart

    1. Continuous Learning: Stay curious and committed to learning. Whether through formal education, online courses, or self-study, continuously expanding your knowledge is key. Familiarize yourself with the latest trends, technologies, and methodologies in your field.

    2. Understand Financials: Mastering the language of finance is crucial. Learn to read financial statements, and understand key metrics like profit margins, cash flow, and ROI. This knowledge will empower you to make data-driven decisions and identify potential financial pitfalls.

    3. Develop Strategic Thinking: Strategic thinking involves looking ahead and planning for the long term. Practice envisioning where your business should be in the future and outline actionable steps to get there. This includes understanding market dynamics and anticipating changes that could impact on your business.

    4. Build Strong Networks: Surround yourself with like-minded professionals and mentors who can offer advice, insights, and opportunities. Networking isn’t just about who you know; it’s about who knows you and values your contributions.

    5. Hone Your Leadership Skills: Effective leadership is at the core of being business smart. This means not only managing teams efficiently but also inspiring and motivating others to achieve collective goals. Leadership skills include communication, emotional intelligence, and decision-making.

    6. Stay Customer-Centric: Understand your customers deeply. What are their needs, pain points, and desires? Being business smart involves anticipating customer needs and delivering value that exceeds their expectations. This customer-first mindset is essential for long-term success.

    7. Embrace Technology: Technology is a powerful enabler in today’s business world. Stay abreast of technological advancements relevant to your industry and explore how they can improve efficiency, enhance customer experience, and drive growth.

    8. Understand the Competition: Know your competition as well as you know your own business. Analyze their strengths and weaknesses and identify gaps in the market that you can exploit. Being aware of competitive moves allows you to stay ahead of the curve.

    9. Adapt to Change: The business world is constantly evolving, and so must you. Cultivate the ability to adapt quickly to changes in the market, technology, and customer preferences. Flexibility and resilience are hallmarks of business-smart individuals.

    10. Develop Problem-Solving Skills: Problems are inevitable in business, but how you handle them sets you apart. Sharpen your problem-solving skills by tackling challenges head-on, considering multiple solutions, and learning from past mistakes.

    Becoming business smart is not a destination but a journey. It involves continuously refining your skills, knowledge, and mindset to stay competitive and effective in the business world. By embracing these 10 strategies, you’ll be well on your way to developing the acumen needed to thrive in today’s dynamic marketplace. Whether you’re an entrepreneur, a seasoned executive, or just starting out, being business-smart is your ticket to success.

    #bizcoachstevef #business #stevefeld #smallbusiness #smallbiz #entrepreneur #marketing #leadership #coaching #businessowner #businesscoach #businesssuccess #businesscoaching #businesstips #entrepreneurship #success #entrepreneurlife #keynotespeaker #podcast #author #smallbusinessowner #speaker

  • Are you a Good Negotiator?

    Are you a Good Negotiator?

    Negotiate (verb) To confer with another so as to arrive at the settlement of some matter.

    In a sense, all of life is a negotiation.

    You are always negotiating in some way. When you drive from one place to another, you negotiate through traffic, letting other people get in front of you and you get in front of them. When you go to a restaurant you negotiate, to get a table and then to get the kind of table you most like. You negotiate all the elements of your work life and all the things you do or don’t do. You negotiate prices, terms, schedules, standards, and a thousand other details all day long. The process is never-ending.

    Your ability to interact, communicate, persuade, and negotiate with others determines your income more than any other factor. It is therefore well worth your while to do everything possible to be very good in this area.

    It is not really a question of whether or not you negotiate. The only question is, “How good of a negotiator are you?”  If you want to get things in life faster and easier, then you need to be better at negotiating than the other person.

    How many times have you or heard someone say, “I am not good at negotiating.”  The reason they feel this way is that negotiating is a learned skill, just as learning how to ride a bicycle.  They may not be good at negotiating because they were never taught how to negotiate.  Learning how to be an effective negotiator takes time and practice.

    Why does everyone hate to negotiate with a car salesperson? Because the salesperson has been taught how to negotiate and they usually have the upper hand in the discussion.  Now, if you were trained as they were in how to negotiate and understand the rules of negotiating, would you dread negotiating with a car salesperson?  Probably not.

    The primary purpose of negotiating is to come to an agreement between two or more parties and then fulfill that obligation.  That’s it. Simple right?

    Your ability to negotiate for yourself and your company will make an enormous difference in the quality of your sales and the degree of profitability you achieve for your organization. So being an effective negotiator will make a great difference in your life.

    There are many rules of negotiating. 

    Rule #1) This is a shocker – AVOID IT!  Yes, that is correct, avoid negotiating. If the other party is good at negotiating and you feel you’re not, then why go into a negotiation with that attitude? You’re not going to fair too well on the outcome.

    Rule #2) Delay negotiating as long as possible. You must first have a desire to buy before offering concessions. Never use negotiating as a substitute for salesmanship (value).

    Rule #3) Negotiating is a sales tool – use it as one. Early concessions have very little impact on the deal and in fact, decrease the attractiveness of your product or service.  Early concessions create an appetite for more & bigger ones later and the first person to concede will usually concede again & again.

    Rule #4) There are several requirements for negotiating.  All parties involved must first have the authority to negotiate as well as to uphold what has been agreed upon. Many times, you may enter into a negotiation, and come to an acceptable outcome only to find out the person you have been negotiating with must get someone else’s approval.

    Rule #5) Some primary aims of negotiating in sales.  Remember if you don’t need to negotiate, then don’t.

    • Negotiate only when it’s necessary to get the sale
    • Negotiate to build a long-term relationship
    • Negotiate to find a way to satisfy both parties

    There are only six outcomes of negotiating.  If the outcome is NOT a Win/Win or No Deal, then end the negotiation. You may win in a Win/Lose outcome for now, but the party that lost will not be doing business with you after that deal.

    1. Win/Lose
    2. Lose/Win
    3. Lose/Lose
    4. Compromise
    5. Win/Win
    6. No Deal

    Finally, always prepare to be successful at negotiating. Remember negotiating is a skill that can be learned, and you need to prepare and practice before entering a negotiation. Some ways to prepare are;

    • Lawyer method:  Prepare your position from the other party’s point of view.
    • 20 Idea Method: Write out 20 benefits for the other party and when negotiating present those ideas.
    • Research the other party: Many times, this simple step is avoided.  Find out what they are looking to gain from the negotiation.
    • Get the facts before you enter a negotiation:  Make sure you are clear on why you are entering the negotiation with the other party and what they are willing to offer to enhance the negotiation.
    • Ask the customer for the information you need to negotiate effectively. Pretty simple, but how many times have you just asked the other party for their information?

    The next time you must enter into a negotiation with another party, be prepared, practice, do your research, qualify them to make sure you are dealing with the decision maker, research them (talk to some of their customers), and only accept a Win/Win or No Deal as the outcome.

    Good luck negotiating.

  • 5 Simple Tips to Speak Passionately, Without Getting Overly Emotional

    5 Simple Tips to Speak Passionately, Without Getting Overly Emotional

    Showing emotion is usually a good thing in business, but you still want to come across as focused, not frazzled.

    Good speakers are passionate—and it shows. Bad speakers are dull, plodding, humdrum. There’s no sense they are passionate about their business. Showing that you truly care about your business can go a long way toward winning over your listeners.

    But passion in speaking is like adding a powerful spice to your dish when cooking. If you’ve ever added cayenne pepper to a dish, you know you need to be careful to use just the right amount. Too much emotion in your speaking is like dumping way too much cayenne and it will be the only thing anyone will notice, and they won’t want to finish.

    Here are five simple tips to be an effective, passionate communicator who doesn’t wind up sounding overly emotional.

    1. Feeling That Doesn’t Kill the Content:

    When you speak with passion, your message has vibrancy and color. Passion brings your message to life by showing that you’re fully invested in what you’re talking about—your feelings about your subject are on full display. But if you’re too passionate, that feeling will overpower the content.

    Your audience gets blinded by the intensity of your emotions, loses focus on what you’re saying, and thinks “What exactly is their message?” You must find the right balance between feeling and purpose. Make sure your emotions enliven your subject but don’t supersede it.

    2. Deliberate Movements:

    When you add passion to your speaking, you engage your audience with your movement. Whether you’re using gestures or walking around during your presentation, you must move mindfully to avoid distracting your audience. Taking a well-timed step toward your audience or a strong hand gesture can add impact.

    When you’re too emotional, your voice becomes sharp, and you end up shouting at your audience. They’ll hear you, but they won’t be listening. But when you’re too emotional, your movements often come in flurries of hand-waving or continuous pacing—movements that aren’t connected to your message in a meaningful way. You may not even notice you’re doing that, but your audience will. Your behavior can seem jerky, random, and repetitive. You become so caught up in your feelings that you may not even realize that you’re moving or repeating yourself. Remember, you want to come across as focused, not frazzled.

    3. A Powerful (But Not Overpowering) Voice:

    Passionate speakers’ voices capture their audience’s attention. They’re clear and commanding. But power does not mean high volume—you can be a passionate speaker with a quiet intensity to your voice. You can also use contrast to highlight points of passion without overwhelming your audience: Change your tone or emphasis at key places in your talk, then fall back into a more relaxed voice later. When you’re too emotional, your voice becomes sharp, and you end up shouting at your audience. They’ll hear you, but they won’t be listening. Try this with your 30-second elevator pitch.

    4. Dimensionality:

    Incorporate peaks and valleys into the way you communicate. You can build crescendos by telling compelling stories and using rhythm, then you can drop down to consolidate meaning and prepare for your next point. This isn’t strictly about tone of voice—it’s about structure. But that will impact the way you sound.

    This mix of passion and substance will keep your audience engaged. But when you’re too emotional, you tend to stay at the same level of high-pitched excitement, without changing pace or tone. Stay at this level too long, and you’ll exhaust your audience and lose their attention. A passionate speaker is like a talented DJ who’s fully immersed in the music but knows when to mix things up.

    5. Clarity:

    When speaking passionately, your points still need to flow logically from one to the next, always making sure to emphasize the main idea you want to get across. You’re not overly formal, but you still get to the point. If you go overboard with emotion, you get into stream-of-consciousness thinking. You go off on tangents—even tangents of tangents. Your audience stops following you, and everyone gets lost. It’s as if you’re lost on a long hike in the middle of the woods. You forget how you got there, and you don’t know where to go next.

    Passion is great, but too much can derail an otherwise solid presentation. By recognizing the differences between being passionate and being too emotional, you can find the right balance to inspire your audience, not stress them out.

    I’m sure we have all heard hundreds of elevator pitches. Some are great and use the 5 tips mentioned above. And others leave you confused about what that person does. Practice your 30-second elevator pitch using these tips and capture your audience and have them want to talk to you afterward. As a business owner/leader, you should be passionate about your business. Let it show in the right ways.

  • 5 Sales Myths to Get Over-NOW!

    5 Sales Myths to Get Over-NOW!

    Don’t think of sales as a special, natural-born talent, and other misconceptions that are getting in your way.

    People who are afraid to sell fail at it. That’s a fact. Fear makes you stumble through your pitch, freeze up when you hear objections, and miss opportunities to close the deal. So how do you sell if you are one of those people who cringe when it’s time to make a pitch? By changing the way, you think about sales. Get over these five misconceptions to modify your mindset, and you, too, can be a successful seller.

    Myth #1: “I am not good at being pushy–and salespeople need to be.”

    Think about the best experience you, as a customer, have had. In that instance, did you find the salesman pushy? Doubtful. More than likely, you thought he was informed. He probably knew a lot about his product and was able to answer all your questions. When you are ready to sell, keep that personal experience in mind. Do your homework before you make a sales call. Know all the advantages and disadvantages of your product and your competitors’ products before you pick up the phone or arrive for the appointment.

    Myth #2: “I don’t know how to reach the person who buys my product.”

    While the person answering the phone may not always be the person who makes the final buying decision, they can often provide you with great insight on the business itself. Don’t see them as an obstacle. Engage them with a few open-ended questions about the business that have to do with your product. Most people are happy to be considered important enough to inquire with, and willing to give you valuable perspective that can help you structure your approach with the end decision-maker.

    Myth #3: “I don’t want to bother the customer.”

    You are bothering a potential customer only if you are calling someone for whom your product has no value. If you know the customer can benefit from your product, he should be happy to hear from you. Structure your call around how your product or service can be of use to your customer. Can the product save them time? Can it save them money? Can it change the way they live or work? If you can answer yes to at least one of these questions, you have not only the right, but also the duty to contact your customer with the good news–and sooner rather than later.

    Myth #4: “I am not fast on my feet.”

    Stop worrying about what you are going to say and focus instead on what the customer will be able to tell you. Think about each call as a fact-finding mission. Your job is to ask questions and then listen carefully to the answers the customer provides. If you already know your product well, you will be able to easily explain how your product can address the needs the customer outlines for you. Sales is not about being fast, it’s about being thorough.

    Myth #5: “I can’t find the right words to close the deal.”

    Don’t be shy about taking the final step and asking for the sale. Find out when the customer will be ready or able to purchase your product or ask how soon they imagine wanting to get the benefits of implementing your service. If you have adequately shown the customer how your product can be useful to them, the deal should be easy to close.

    All of these myths are obstacles that otherwise competent salespeople create for themselves. Stop thinking about sales as a special talent that only “natural-born salesman” possess. There is no reason to fear making potential clients aware of the great product you offer. Selling is only the process by which you call on the right people and match them with the right product.

    Now go out there and sell.

  • Don’t stop working during the holidays

    Don’t stop working during the holidays

    The Holiday Season is upon us and for sales professionals and sales managers, this time of year adds special challenges for maintaining focus on sales productivity.

    Being an entrepreneur has lots of challenges between Thanksgiving and New Year’s Day. The familiar music, parties, seeing old friends, and spending time with family. In the midst of a joyous season, the sales environment can be brutal.

    During the holiday salespeople and business owners struggle to maintain activity targets while prospects and customers routinely put off decisions until the New Year. The good news is, that despite the challenges, you can take control, maintain your focus, and still close deals. The key is in staying true to the fundamentals of selling and maintaining self-discipline combined with a sprinkle of creativity.

    One of the hardest things about selling during the holiday season is getting customers to act on buying decisions. They say they just want to wait until the New Year to make any decisions. To them, it makes logical sense to wait. Far too many salespeople willingly accept this excuse as logical too. However, if you’ve been around selling long enough you know, by the time you get to January, most of these deals will be cold.

    To have any chance of closing these deals you have to strike while the iron is hot. You cannot allow emotions to wane. So, during this time of year, you have to give your prospects and customers a more compelling reason to make a decision now than to wait until later. This means getting creative with your offer, price, value-added services, or signing bonuses. You may have to give up more to get the deal done than during other times of the year. 

    In sales, like it or not, activity is everything. If you are not prospecting, questioning, presenting, and closing you will fail – no matter what time of year it is. Of course, with all of the wonderful (and not-so-wonderful) distractions of the holidays, it can be easy to slack off, and let your self-discipline slip away from your normal daily routine. 

    This slip has two consequences. In the short-term, it hurts your closing ratio during December. In the long term, it impacts your sales pipeline during January, February, and March which can have a major impact on your future income.

    To keep this from happening to you, you must sit down with your daily planner right now and ensure that you have your calendar blocked properly for daily prospecting and lead generation, as well as information gathering, presentations, demos, and closing meetings. Take into account all of your holiday activities and build them into your planner. You may have to do some workarounds, but the key here is to get everything planned out in advance. To stay on track, set daily activity targets and commit to reviewing those targets each morning and afternoon. You will be amazed at how powerful this planning process is for keeping you on track and focused during the holidays.

    Most importantly, by planning and developing creative ways to close more business, you will find that you feel less stress, cash bigger commission checks, and have plenty of time to enjoy the holidays with the ones you care about the most.

    One thing I cannot stress enough is to be open as much as possible during the holiday season and answer your phone. Just that alone will separate you from the rest of the pack. Keep moving forward, do not take the season off and your business will benefit in the first quarter of next year.

  • The Perceived Value of a Chamber

    The Perceived Value of a Chamber

    The primary goal of all chambers of commerce is to obtain new members and retain their membership base. Everything else is secondary – the lead/referral groups, ambassador programs, public forums, awards, networking, mixers, advocacy, government forums, leadership programs, boards, committees, and philanthropy are all secondary and even tertiary.

    Without members, none of those program’s matter. Members are the lifeblood of all chambers no matter in what town, city, or country they are in. Therefore, the CEO and chamber staff should be respectful and thankful for their members (AKA Clients).

    Having been a member of many different chambers they all have the same properties. Usually, a dynamic CEO, some self-serving staff, some caring engaged staff, similar events/programs, and of course the cliques within the membership and staff.

    The chambers all bank on those non-active members. You know, those members that never participate in anything complain they don’t get any business from the chamber but keep paying their membership fee. Why they keep paying is for another time.

    The chamber has a love/hate relationship with these types of members. The staff complains about those non-participating members but loves them around renewal time. The chamber is always wondering how to engage them in the chamber but fails to do the simplest thing in the world. Ask those members what they would like to get out of their membership.

    How do I know this? Well, a few chambers along with a few other networking/referral groups had me investigate their programs on why membership engagement is declining. What I found out could be related to any social, fraternal, industrial, or trade group/association. The results were always the same, which will be covered in another blog.

    Chambers need to show value to their membership base – real or perceived. The real value may be that the chamber is your advocate in getting the zoning changed for your business to expand. Going through the normal process may cost you thousands and thousands of dollars and lots of aggravation. The chamber could use its influence with the local city/county/state officials and assist you with that zoning change. The chamber could even set your business up to be a preferred vendor for a large company that is moving into your area since they were actively engaged in getting that company to move to the area.  These are real dollar values.

    The perceived value may be those networking events. The members love them because they get to network with other business owners to create long-term relationships. I say this type of event is preserved value because if the member added up all the time they spent at this event throughout the year (including travel time), they multiplied that number by their hourly rate (annual gross income divided by 2,080 (work hours in a year)) and add all the fees or costs associated with this one event. That number is usually greater than the total amount of business they received from that event.

    I’ve presented this preserved value to many different groups and the audience always says, “No Way!” and then proceeded to argue with me that they are getting real value out of that event.

    I just ask them what their return on their investment (ROI) for that event is not even taking into consideration their annual fee. The answers are usually made up of lots of embarrassment in their voice.  Don’t be embarrassed. This is because 99% of business owners do not measure this activity. They should be tracking costs versus income because this program is a marketing activity.

    Now if they measured this activity, it would be a “real value” and not a “perceived value.”

    For an experiment, years ago, I tracked all my costs associated with one chamber including all membership fees, my time, all additional chamber costs (lunch and learns, award programs, donations, etc.), as well as all direct sales to fellow members and all sales from member referrals. This was easy to track since I asked every customer how they heard about us and put that data in the point-of-sale system.

    The results were shocking. That membership was totally a perceived value, not a real value. I was very active and engaged with the chamber and the other members. I had to drop that membership because it was a smart business decision. Other chamber memberships have only had perceived value and I have stayed a member because I really enjoyed being part of that chamber, its members as well as its staff. In another chamber I was in the results were completely different. I had a 5x ROI. Yes, I renewed every year in that chamber.

    So, if you are thinking about joining a chamber, think about what you would like to get out of your membership-obviously, sales is the number 1 answer, or are you looking to network and build a referral sales system? Talk with the Chamber CEO and let them know what you’re looking for out of your membership. Only the expanding chambers will ask you, all the others you must tell them because they will never ask you. I am a huge supporter of chambers, but every chamber has a different agenda (political, social, community, etc.) and you need to find the right chamber that fits what you want out of the chamber.

    Measure your ROI on your chamber membership – the results may shock you.

  • Seven Idiot-Proof Marketing Strategies That Will Skyrocket Your Sales and Profits

    Seven Idiot-Proof Marketing Strategies That Will Skyrocket Your Sales and Profits

    Business owners are experiencing some of the most turbulent times in history. Inflation, Pandemic, Gig-Economy, the Great Resignation, etc. The Internet has created a whole new economy. And this is just the beginning…

    I get asked all the time, “What are a few marketing strategies that I should be doing right now to grow my business?”

    This a logical question that every business owner is asking.

    Here are just a few simple marketing strategies that will skyrocket your sales and profits.

    Idiot Proof Strategy #1

    Create A Marketing Parthenon

    A Marketing Parthenon means having multiple different sources of revenue and lead generation instead of relying on just one and not 100’s.

    There are literally thousands of different marketing strategies you could be using to grow your business but only a few that you need to do consistently that will allow you to make all the money you desire. It’s sometimes hard to find just 3-4 strategies that bring you the highest ROI. Most business owners are trying around 15-20 marketing strategies and are struggling with keeping up with all those strategies. Look at your current marketing strategies that have increased your business the most and just stick with those. Lose the rest.

    For example, let’s say your primary method for generating new business is through direct mail.

    What happens if, for whatever reason, your postcards, fliers, or FREE Reports stop working tomorrow? How will that impact your business?

    The same thing can happen to you if you don’t diversify your business.

    Start now by conservatively testing other methods of marketing so that if one method stops working, it won’t put down your entire business.

    Idiot-Proof Strategy #2

    Consistency

    This one seems so easy, yet so many people fail to be “consistent” in their marketing efforts.

    For example, we get calls all the time saying things like “I just mailed 200 postcards, now what do I do?” The answer’s pretty simple…

    Mail 200 More Next Week!

    You can’t do just one mailing, run just one ad, do just one joint venture, and expect blockbuster results.

    Marketing doesn’t work like that!

    Create a marketing plan and a marketing budget for the year and stick to it.

    For example, maybe your plan calls for mailing 200 postcards a week, developing, and maintaining an internet website, running 2 small ads a week in local newspapers, and setting up one new joint venture per month.

    If that’s your plan, you must stick to it.

    Over about 90 days, you will create momentum, and sales and profits will start to roll in.

    And if, for some reason, one of your marketing methods stops working…

    Change Your Approach!

    Don’t just give up on direct mail or advertising entirely – test a new ad or sales letter.

    Whatever you do…

    Be Consistent!

    Idiot-Proof Strategy #3

    Sequenced Mailings

    This is probably the most important marketing strategy you could implement, yet very few marketers have put systems into place to allow them to tap into the power of consistent sequenced mailings.

    There was a famous marketing study done several years ago that determined that over 70% of all people who respond to an advertisement (or letter) will ultimately buy the product or service being offered.

    Here’s the interesting part…

    Almost All of Those People Will Purchase The Product Or Service From Someone Other Than The Original Advertiser!

    Why do you think that is?

    I’ll tell you why… because people buy when THEY are ready to buy not when YOU are ready to sell.

    So, what does all this mean to you?

    It means that sending out one FREE Report to a leader is not enough.

    When a lead calls an 800# to get a FREE Report, all they are basically saying is that they are interested in buying what you have to offer (but NOT necessarily ready to buy yet).

    “Yet” is the important word here. This means that at some point in time, they will be ready to buy, and the company that gets the sale will be the one who stayed in front of them until they were ready to buy.

    Idiot-Proof Strategy #4

    Monthly Newsletters

    Do you send out monthly newsletters to your clients?

    If not, why not?

    Did you know it’s far easier to re-sell an existing client than to sell to someone who doesn’t know and trust you?

    Did you also know that you lose 1/12 of the value of a client every 30 days you don’t communicate with them?

    So, knowing these two facts, what’s the easiest, most profitable way to maintain relationships and re-sell existing clients?

    You guessed it… you’re reading one now.

    So, if someone becomes a client after reading a FREE report, offer them more FREE reports on other things that you offer.

    But whatever you do, make sure you keep in touch with your clients at least once a month!

    Idiot-Proof Strategy #5

    Create A Back End for Your Business

    As I said earlier, it’s far easier to re-sell to an existing client.

    It’s also…

    Far More Profitable!

    Think about it…once you’ve spent the high upfront costs to acquire a new client, it’s relatively inexpensive to send them a letter promoting another product or service.

    The list is endless. The sky is the limit.

    Now it’s up to you to either offer these services yourself or set up Joint Ventures with other companies who already offer these services and split the profits.

    Idiot-Proof Strategy #6

    Testing

    It always surprises me how few business owners and marketers actually “test.”

    For example, have you ever tested one price against another to see which price pulls the most sales?

    I’ll bet most of you haven’t.

    Well starting today, here’s a brief list of the most important things to test:

    1. Headlines (in ads and sales letters)
    2. Price
    3. Guarantees
    4. Offers
    5. Mailing Lists
    6. Newspapers

    And the list goes on. There are an endless number of variables you can test in your business.

    Here’s the exciting part: One “minor” change can have a major impact on your business.

    For example, let’s say you test charging $700 instead of $500 for your services and your sales remain the same. Let’s further assume you’re selling approximately 100 new clients a year.

    The $200 extra dollars per client multiplied by 100 clients or …

    $20,000 Extra Dollars Per Year with No Extra Work on Your Part!

    That’s the power of testing. Put it to use in your business today.

    Idiot-Proof Strategy #7

    Creating A Deluxe Version of Your Service

    Airlines have “First Class” tickets. Nightclubs have “VIP” rooms. Hotels have “Suites.”

    Are you starting to get the point?

    Give your clients more than one option. Offer them the “No Frills” service for one price, and the “Premium” service for a higher price.

    Add extra bells and whistles to the “Premium” service and create a much higher “perceived value” and I GUARANTEE most of your clients will choose the “Premium” service.

    You want to give your clients a “Yes” or “Yes” decision NOT a “Yes” or “No” decision.

    So, if you aren’t already offering a Deluxe service, start doing it immediately!

    What are you going to start doing today to create a marketing machine that increases your sales and profits? It doesn’t have to be 100 different marketing strategies. Start with one, be consistent with that strategy, test it, measure it, adjust it, and profit from it. Then start with the next one.

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    Steve Feld, MBA, Certified Business Coach, and Author, a coffee enthusiast, provides training and business performance coaching to business owners, professionals, and executives. Steve also speaks to organizations and conducts workshops and training.  Focusing on lead generation and revenue creation to get growth results for the business.

    Contact Biz Coach Steve today to see how he can assist you to get the results you want in your business, [email protected], or www.bizcoachsteve.com. He is in the business of growing businesses. Need a speaker, contact Steve today.

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