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Posts Tagged ‘People’

The Next extra P in business is…..…..Persistence!

January 10, 2011 2 comments

This is has to come from within and how long you persist at something, not just in business, is a reflection as to how committed you are.

As Brian Tracy (well know American Success coach www.briantracy.com) recently said on personal Persistence:

“Your persistence is, in fact, the true measure of your belief in yourself and your ability to succeed.”

In other words Persistence comes from how much you believe in yourself to complete your task. Its not really about the task itself, its about you and your commitment to it.

 

 

In terms of being successful in business this translates into what Napoleon Hill had to say about Persistence.

Napoleon Hill (author of Think & Grow Rich) has this P as an essential ingredient in becoming successful. He wrote:

“Persistence is an essential factor in transmuting desire into

its monetary equivalent.”

This is easier said than done. But to help you Persists there a few things that you can do to help you.

Be responsible. Take responsibility for carry out your task and realise that you will profit from it if you Persist, you will be in a much better position. Pin this up some where so you can remind yourself of this fact, not just daily but throughout your day.

Another way, which I was recently reminded of by Sue from Red Hot Events and Seminars (http://www.redhoteventsandseminars.com ), was to join a mastermind group.

Find a group that has like minded people in it. You’ll naturally find encouragement there. You’ll also find that encouraging others boosts your own Persistence and enthusiasm to succeed.

So you need to ask the question: Are you committed to Persisting with your business?

I’ll give you my final P in business soon, thanks, Tim.

 

What are some of the most profitable words used today?

September 6, 2010 2 comments

Do you want fries with that?

Are some of the most profitable words in history. Those six little      words are responsible for millions of dollars in revenue each year for McDonald’s.

Okay it’s not the words that are relevant to you, I think your customers maybe a little surprised if you offered fries with their purchase, or maybe not, if you’re in that industry. It’s the action, the intent, the fact that they’ve asked.

What do I mean?

It’s asking for the up sell, which leads to the increase in sales, the moving of more product and the increase in profits.

McDonalds, as with many others, have successfully mastered the art of asking for the up sell. The “super size”, the “do you want fries with that”, as I’ve said, it’s delivered them many millions in increased revenue and profits, by just asking for it.

Are you using the up sell to increase profits?

This simple but highly effective tactic can be used to increase turnover and profits dramatically in a short space of time.

It can be as simple, as I was reminded with my coffee order the other day and no it wasn’t from McDonalds, as being reminded that you have an add-on product available, in my case it was a muffin.

That simple add-on of a muffin took the sale from $3 to $7.50, over double my initial intended purchase price! But it was relevant and asked for at the right time, at point of sale.

In this case these are small numbers, but doing this consistently, without sounding like McDonalds, will lead to higher turnover and increased profits.

Don’t have fries to up sell?

This tactic to drive sales and profits isn’t just restricted to the fast food outlets or café’s. Most businesses have or could have an add-on product. Here’s a few quick examples:

  • Mortgage broker – would you like insurance with that, life or income protection? (this can be sold via an affiliate with commission paid to you for referrals).
  • Air conditioner / white goods / TV and so on purchase – would you like a maintenance plan with that?
  • For an extra $5 per month we can offer you a higher spec product / plan / service.

The list can be endless but gives you an idea. Just stop think about what you do or offer and what you can add to it that’s complimentary. Think about how you can effectively introduce it to your customer at the point of sale. But don’t make it sound like McDonalds!

Look for things that will benefit the customer, not what would just benefit you.

Thanks for reading and I hope you enjoyed this post, and I always look forward to your comments.

Thanks, Tim.

What’s YOUR Most Precious Resource?

What’s Your most precious resource?

Okay before I get into this, it’s a slight track away from Marketing and the world of business and work. But it’s very relevant as to how you use your resources both personally and in your business or work. Have a look and challenge yourself.

Have a think, what is your most precious resource? mmm….is it money…is it your experience….is it your education?? Well all great resources in their own rights but all can be borrowed, brought, copied and so on, given enough….Time.

I came to the conclusion a while back, hopefully not too late in the day, that it’s Time that is our most precious resource. Once its used its gone and its not coming back.

You see time can fix all sorts of woes, problems, issues and general lack ofs, and time can be used effectively and efficiently, and be used to achieve wondrous, outstanding, profitable results.

How can we use time to our advantage?

Firstly we don’t need to waste it. We all need to look at what’s a good and what’s a bad use of our time. Only you can decide this, but here’s a few bad uses of your (well mine in the past) time:

● TV – I’m sure someone’s going to lynch me for this and I am guilty on occasion of doing this. I don’t mean all TV is bad and don’t ever watch it again. What I’m getting at is try and be more selective. Cut out some of the stuff that demands your attention but gives you little in return and instead replace it with something that is more constructive and will give you a return, be it educationally, a book for example, or physically, a walk or the gym??

● Over analysis – you’ve heard it before, but it’s so true – “analysis paralysis”. Don’t get caught up in this, it consumes huge amounts of time with no real outcome. Make a decision sooner rather than later. If you are struggling to make a decision then ask for help, ask someone neutral for there input.

● Duplication – are you doing tasks twice or duplicating information where it isn’t necessary? Unfortunately I used to do this a lot, but I’m getting better. An example of this is that I would sometimes visit the corner shop five times a week instead of once a week, costing me extra, in impulse buying of snacks, and wasting time, over an hour a week, not a lot but in an hour I can have written an article or two that may positively impact on people and provide personal satisfaction. Yep, much better and more satisfying than choosing which chips to buy for the fifth time.

I think you know what uses of your time are the good ones, you know the tasks that have a positive or constructive outcome, things that move you closer to your goals.

So have a look at some of the tasks you do in a day or week and put them into the good or bad box and how long these tasks take. This can be either in your personal life or your working day or week, or both.

Now, how about changing or getting rid of some of those bad uses of you’re time. How much does this give you back in your day or week and what positive outcomes does it or could it deliver to you? I know doing this exercise helped me to use my time more efficiently and effectively. It also helped me become more focused on my goals and the direction that I was going in, helped me gain a bit more clarity because I had become more effective with the time available.

This process can be expanded and refined and could eventually be used as a bases for your diary for the week, where by you are using more of your time efficiently and effectively, enabling you to produce better outcomes, week in week out.

It’d be great to hear some of your experiences on this, the good and the bad.

Thanks for Your Time in reading this and I hope it was helpful.

Thanks again, Tim.

Five tips to keep you competitive in a competitive market, whether it’s in your area of work or in your business……..

Five Easy Tips, with lots of benefits, for YOU……

1. Understand your market:

By understanding your market you can better target your marketing resources. Define your market. If you sell, for example, cosmetics then you could say that all women are your market. But by understanding where your product falls into the market, ie high or low priced, etc, you can then target your efforts.

2.  Don’t use a scatter gun approach to find your next client:

For example spend $750 on a postal flyer or $750 on expenses meeting new customers at Network functions? Find and target your next customer in a timely cost effective manner. Resources are precious both in time and money terms.

3. Think outside the box:

Don’t just rely on traditional forms of attracting customers. Just putting a sticker on your car door isn’t going to cut it. Try teaming up with other companies that compliment your product and services. Pool resources and market together.

4. Your brand must run through your company:

Consistency is the key. Ensuring your band runs through your company will show your customer that you are in control and offer a consistent, quality product or service. Just take a look at McDonalds, for example.

5. Staff are on Board:

Empower your staff, they represent you and most importantly the company. Are they presenting both in a good light? They need you to guide them in presenting the company in the right way. Training, training, training.

It’s not a huge jump for you to translate this to your current job if you’re not currently in business. Have a look…

  1. Understand who your customer is. Find out what makes them tick to give you a better understanding of them. You’ll also be able to communicate with them better.
  2. Use your time wisely. Target, target, target. Think before you act, is this a good use of my time?
  3. Look outside of what you do to speak with your customers. In a sales role try something different, say outside of normal work hours get together in something that you both may enjoy.
  4. Get with the program. Let the company’s brand run through you to. Your customers will thank you for being part of a consistent performing, quality organization.
  5. Are you representing your company well? If you are you’ll feel the benefits both from the company and clients. You’ll be appreciated and if you’re not, tell your employer or find one that will appreciate you.

You are your own business and if you choose to excel in everything you do, even at the moment if it’s for someone else’s company, ultimately you will benefit. In terms of being noticed, financial rewards and personally knowing that you made a difference to someone.

I hope that this doesn’t sound like a campaign to get everyone obediently to obey their employees, its not, you need to be appreciated as an employee who cares. I just want to show that most of the business and marketing education, conversations, literature, etc out there is relevant to you being in work.

Being at the peak of your game at work will ultimately benefit ….You. People will notice You.

Thanks again for reading, your time is appreciated and all your comments are gratefully received. Thanks, Tim

Influencing the influencer………

Influencing the influencer….


Who is an influencer you ask? Well this is usually a person, someone who has “influence” over you or a group of people in the decisions you or they make.

This is relevant not only in terms of marketing, but is also very relevant in the work place.

Let’s look at an example from both the marketing world and the world of work. Then maybe we’ll all be in a better position to understand this person and how important they are to us.

Marketing: The image above sums a lot of this up. In marketing we’re trying to find the person who has the power to influence you into buying our products and services.

There’s a lot of talk about Facebook and other social networking sites being the holy grail of influence marketing. All you need to do is jump on and recommend a product to a friend. Hey presto Sale!

But, and its looking like a pretty big but, this isn’t as straight forward as it first seems or seemed.

Whilst a friend can be an influence on your buying decision and recommend a purchase, particular for purchase online where someone wants that extra push to buy due to trust issues, research and talk is questioning if this influence is enough.

A true person of influence could be a friend or I’m arguing could be a person who is or can be perceived as a friend but with the experience in the usage of the product or service you’re interested in buying.

Let me explain. I like biking, tour de France style. When I’m looking at purchasing something online (or offline for that matter) for my bike, I look to my friends for recommendations. But what gets me over the line (depending on the product and price) to purchase is an influencer. Someone who is on a forum or even an experienced semi well known person who has used the product and gives me a through run down on its suitability, with honesty, even if they work or are endorsing that company and its products.

So I supposed this is or can be considered, a two staged influencing process…mmm…. Stage 1 friend recommends and influences to look at the relevant web site or visit the store. Stage 2, second influencer, the well experienced, trusted user of the product, pushes me over the line for the purchase. Light Bulb moment – 2 influencers, not one, there’s a thought??

Workplace: Very different, but is this so far from what I’ve discussed in the marketing example?

Let’s take a sales role as an example. Are you, as a sales person talking to the right person? Are they the ultimate buyer, yes? Or, yes they are but will they have outside influences on the purchase.

Give you an example. Back in the day, another time and place in the past, where at times I would have a sales role within my own business, for larger clients.

Well my company and in particular myself, naively I must say, spent many, many, days hours, weeks courting a new client. We thought we were having our discussions with the ultimate “decision maker”. He was extremely happy with the price, service, people, everything. He was ready to buy and did. The snag was that he only used our services a tiny bit. The total contract he had the ultimate decision on was for hundreds and thousands of dollars, in fact over a million dollars a year, we got a few thousand dollars a month worth of work. What was wrong??

We, I, tried all sorts of things, regular meetings, offered to place our own staff into his business, dedicated customer service staff, and so on.

After many months of continued and failed negotiation we settled for the slice of the pie we were given.

Looking back the reason we had so little work form him was the influencers within his business.

He had customer service staff and warehouse operations staff who where in the front line. They had to deal with us on a day to day bases. Guess what….. they didn’t like ….you got it change. They were very happy to put up with the mediocre service that they were receiving from their present suppliers and did not want to change. They “influenced” the ultimate buyer into not giving us all of their business.

The moral is that we should have spoken to the “influencer’s” as well as the ultimate decision maker, found a way to get everyone on board from the start.

So in Marketing or in the world work you need to know who the influencer is or are and focus your efforts on them.

Let me know your thoughts and your experiences, similar, same or is it, what is he’s talking about?, please let me know and put me straight or join the conversation.