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Entries for month: December 2011

Gumming Up the Works

December 23, 2011 · No Comments

Here's something to chew on as you think about your business plans for the coming year:

A young entrepreneur moved from Philadelphia to Chicago in 1891 with $32 in his pocket and the idea of selling his family's scouring soap to customers. As an incentive, the 29-year-old offered free baking powder with each soap purchase.

Before long, the baking powder became so popular that he began selling it instead. He then came up with a new incentive: two free packages of chewing gum with each can of baking powder sold.

As you might have guessed, the gum proved more popular than the baking powder, so he decided to change his product line once again. And that is how William Wrigley, Jr., started one of the most iconic brands of chewing gum on the market today.

In business (as in life), things don't always go exactly as we plan. Markets change, technologies evolve, and what worked yesterday won't always work today, tomorrow, or down the road.

Knowing when -- and how -- to adapt can mean the difference between success and failure for any enterprise. In Wrigley's case, that meant understanding his customers' evolving needs -- and adapting his product line to meet those new demands.

What will it mean for you and your company in 2012? Only time will tell, so be prepared to recognize new trends, embrace new attitudes, and adapt your plans accordingly.

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4 Steps to Turning Objections into Sales

December 13, 2011 · No Comments

Objections are a natural part of virtually any sales process. How you deal with them will go a long way in helping you close more sales. Here are four steps to help you turn objections into sales:

<strong>1. Believe in what you're selling.</strong>
It's always easier to convince someone else to buy your product or service if you truly believe doing so is in the best interest of the customer. When you believe in the products you sell, your passion and enthusiasm shine through. So make sure your products and services are worthy of your talent and time. If they aren't, decide why not. Then improve them until they are.

<strong>2. Anticipate objections.</strong>
What potential worries might prospects have when they first see your products? The specifics will vary of course based on the kinds of products you sell. For some, there might be pricing concerns or worries over setup costs and the learning curve. For others, security, safety, or support might be more apropos. Whatever the case, think of as many objections as you can ahead of time, then look for creative ways to address those issues as part of your presentation. Prospects will feel more confident investing in your products or services once they see how much thought and effort you put into overcoming the "real world" challenges facing them.

<strong>3. Listen... and hear.</strong>
We've all heard the adage that we have two ears and one mouth so we listen twice as much as we speak. In sales, listening is essential -- as is truly hearing what a prospect is saying and determining what they really <i>mean</i> by what they say. So how can you improve your listening? Start by asking questions and restating the concerns a prospect shares with you, so you're sure you understand them properly. All of this will go a long way in helping you connect, build trust, and reach a mutually beneficial sale.

<strong>4. Remain positive.</strong>
This is potentially the hardest step to follow. No one likes to hear criticism leveled against the products and services they've worked so hard to develop, build, and sell. But objections are natural, and they aren't personal. Remember that the customer is just trying to make sure they get the best value for their hard-earned money. So try not to get defensive when someone raises an objection. Instead, try to get to the bottom of what's causing the concern, so you can address it properly and help the prospect feel more comfortable about the sale. Stay as professional and upbeat as you can. Don't sugarcoat legitimate concerns, but don't get shaken, either. Remember that objections are a part of every sale.

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Are You Just Spending Time...or Investing?

December 09, 2011 · No Comments

December is a time of reflection for many of us, as we approach the end of one year and the start of another. Recently, I ran across a quote from Helen Keller that I thought fit this spirit well, and I wanted to share it with you here.
<blockquote>I will not just live my life.
I will not just spend my life.
I will invest my life.</blockquote>
As you probably know, Helen Keller was an incredible woman who, despite being born both blind and deaf, became an accomplished author, speaker, and activist. She invested her life helping others, and the world was better for it. In her lifetime, she inspired many with her words and actions alike, even earning the Presidential Medal of Freedom from President Lyndon Johnson in 1964.

I like the idea of life as an investment. Unfortunately, in our busy and hectic world, it can be easy sometimes to forget that time is our most precious commodity and that we must do more than spend it. We must invest it in the people we care about, the causes that inspire us, and the businesses we're working to grow.

So how are you investing your life? And how do you plan to invest it in the year ahead?

Michelangelo once wrote, "The greatest danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it." Make sure you're aiming high and investing your life wisely.

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Marketing Your Goodwill

December 02, 2011 · No Comments

In the business world, the benefits of charitable giving are two-fold: Giving lets you not only help those who are in need, but also enhance your company's reputation. Many customers show increased loyalty toward generous brands. Here are a few creative ways to market your goodwill:
<ul><li>Encourage customers to purchase from you rather than your competition by designating specific products or services for your charity. For example, "5 percent of proceeds from all XYZ pet products purchased benefits local animal shelters."</li>
<li>Add a feature section to your website, highlighting your charity. Include a link to the charity's website, as well as information about any upcoming charity events.</li>
<li>Create a giving campaign for your charity, and encourage customers to join in. This will help build stronger relationships with your customers and nurture a sense of pride in helping toward a common goal. For example, you might try something like this: "We will donate $1 for every canned food donation we receive during our Annual Food Drive for the Hungry."</li>
<li>Send a press release to local media to publicize your donations to charities.</li>
<li>Promote your charitable involvement in your newsletters, flyers, brochures, advertisements, etc.</li>
<li>Promote your charity at your business. Make brochures about the charity available, include charity flyers with purchases, hold internal fundraising contests, etc.</li>
<li>Advertise your products and services in your charity's preferred communication vehicles, such as newsletters.</li>
<li>Offer exclusive discounts to people involved with your charity.</li>
<li>Donate items to your charity that they can use for raffles or other fundraising events. The presence of your donation is an advertisement in itself.</li>
<li>Instead of sending customers Christmas cards or gifts, let them know you are making a contribution to your charity instead.</li></ul>
Of course, while corporate giving is a great way to build your business, don't forget that your primary motivation should be to help others.

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