Jun
22

Success keys you may not like

4 Brutal Keys To Success In Your Business

I say brutal because some of theses keys may rub you the wrong way – but when you step back and take a non-ego-driven look – they are all very true.  Follow them and prosper – ignore them and perish.

Sorry to be harsh – but it’s true.

1) You have no idea what your customers want. You cannot guess this, read it in a magazine, nor base it on what your competitors are offering (unless they are wildly successful with it).  It is impossible to guess what will or will not work out in the real world.  You must test various approaches, offer anonymous surveys and questionnaires. Focus groups are a useful tool for  probing  reactions to advertisements, programs and exploring concepts but they are very subjective and not statistically valid.

2) People do not change. Despite the craziness of our “proudly-busy” world – the basic human appeals and desires remain the same today as they did 1,000 years ago.  Business has changed – new products and services are coming out at an astonishing rate – but people still buy based on fear, greed, love, sex, riches, health, happiness, beauty.  A fantastic book on this subject is The Psychology of Influence by Robert Cialdini.

3) People will not appreciate you or your products – unless you tell them why they should. They will buy based on what they want – and you can totally change the foundation on what it is that they want.  Let’s say you are a widget distributor in a highly competitive business.

Your main differentiation is that you seek out 150 manufacturers every year, you screen out their hiring procedures, their quality standards must be at a 99.95% acceptance level, their warranty is the best in the business, the service is above all others. The product lasts 3.7 times as long as the next largest competitors.

Your customers have no clue about this – unless you TELL them.

They will truly appreciate you, your offerings, and your honesty if you lay this out for them in a compelling story on your web page, in direct mail, on the back page of your brochures or catalog.  Tell them what you have done for them to make their purchase the best choice – and they will buy.

4) In your advertising and marketing you must tell a complete story.
This is along the lines of point 3 but very worthy of a further description.  Once you get a prospective customer’s attention in your marketing or sales effort, you must tell them a compelling story about your main benefits.

Tell them about the process you go through, how you have helped 4,577 people lead fuller lives, how you traveled the world to find your newest offering, and how you spent $517 on long distance fees finding the perfect partner company that looks after the 10 year warranty program.  There is so much to tell – that they would have no idea of – unless you tell them.

Never worry about being too long in your copy or brochures.  Everyone fights this – “too long” or “too wordy” or “no one will read all of that text” – but the FACT is – they are all wrong (This fact is based on 100 solid years of documented proof!).

You can only be too boring in your marketing – never too complete or long.  If you fought tooth and nail to get an appointment with a critically important client – would you walk in and do a song and dance show complete with juggling balls – then end at the 30-second mark abruptly?

Of course not.

You would do everything in your power to explain all the intricacies of your offering, the benefits, the proof, and the bonuses – no matter how long it took to close the sale.

More of these truisms to come!

“The victory of success is half won when one gains the habit of setting
goals and achieving them. Even the most tedious chore will become
endurable as you parade through each day convinced that every task, no
matter how menial or boring, brings you closer to achieving your dreams.”

Og Mandino
1923-1996, Author

May
20

Halfway through the year… are you halfway through your goals?

I wrote this for January 2009, but the information is as valuable now as it was then.

June marks the 6th month of the year – and it should mark a significant chunk of your years goals as accomplished.

Sounds good… but is it a reality?

If not, what will you commit to doing differently for the last half of the year?

What will you do during those 6 months to make sure you STICK to your commitments for the year?

I am hoping there are some ideas here that can give the extra oomph to make it happen.

From January 1, 2009: It’s here… what have you already done?

2008 flew by in a flash… and 2009 is here waiting for those who can handle what she brings.

Not only will this coming year prove to be an exciting one, it will also bring out the best and worst in people’s personal financial situations.

Sadly, quite a few people will not be prepared…. they will lose their jobs with no savings to tide them over… they will lose most of their savings, and sell off what remains in a state of panic… or they will go through the coming year in a zombie like trance, just waiting for it all to come to an end.

Then there are those who go into this year with a plan.

They have thought through what they will do differently this year, month and week. They think through the long term consequences of the businesses they start, the projects they get involved in, the investments they put money into, and the priorities they make in their life.

Early January 2010, one year from today, some people will reflect back with awe over what happened in 12 short months. They tripled their income.  They bought rental properties for pennies on the dollar. They started that new business, or expanded their existing one.

They are living the life they once thought was just a vision in the back of their mind.

On the flip-side… January 2010 will also see some people overwhelmed with fear, sadness and depression.  Maybe they lost their job and couldn’t see the foresight to find a new job in a new industry.  Or they panicked and sold off their remaining investments, only to see those investments return back to their
former levels.  Or they just went about their day-to-day activities as they always have, and, surprise surprise, things look pretty well exactly the same for them this January as they did last January.

The choice IS yours… you know that.

But, if you have not at least started thinking through (on paper) what you are doing differently this year… how can you expect any different results?

If you have not set some goals for the coming 12 months, how can you expect to achieve them?

How will you know what it is you’re aiming for?

By now, you should have put together your best of/worst of lists for 2008.  This is a great way to reflect back on the year… to give yourself a pat on the back for everything you did that worked out for you on the plus side.

It’s also the chance to reflect back on the things you did in 2008 that didn’t work out all that well for you.

The defeats.

The failures.

The constant frustrations you met with.

When you look at the good AND the bad… you will see trends.

And those trends you see can revolutionize 2009 for you.

The failures… have they happened before?  Constantly?

What are you going to do differently about it this year so they DON’T happen again?

Here is what I would suggest you do right now…

…set aside 60 minutes.

Turn off the tv. Forego a lunch break. Get up an hour earlier. Or stay up an hour later.

Lock yourself away somewhere without phones, tvs, or email.

And get busy writing!

List out everything good that happened to you in 2008.

List out everything not-so-good that happened to you in 2008.

And look for the trends.

Things that keep repeating themselves… things that have positive and negative results for you.

Then come up with a plan on how you will do 10 times more of the positive things in the coming year.

And how you will eliminate the negative things you do that cause bad things to happen in your life.

The best way to write your plan?

This is something I have done for many years now, and I love how it feels once you are done.

After reviewing your good and bad.  And after thinking through what you will be doing differently in the next year.

Write a letter to yourself (or your spouse, your kids, or whoever is most important to you in your life right now)… but the letter is dated January 1, 2010… a year from now.

And talk about all the incredible things that happened over the past year.

Gush about your accomplishments, your successes, your biggest ah-hah moments.

Talk about what a wild ride 2009 was… and how much fun it was to accomplish all those dreams in one year.

See yourself in that state, a year from now, and really feel how exciting it will be for you to be there celebrating your best year ever.

Lock that feeling in.

Get that letter typed up – or leave it in long hand.

Important: Read it every morning for the next year (it takes you 1 minute… you CAN find the time).  When you read it… see yourself there enjoying the moment. Feel what it will feel like to celebrate the big wins you wrote about.

You do that, right now, before you forget and “put it off for later”, and I guarantee you that 2009 will break all of your previous record years.

You do that, and review it every single morning, and some amazing things WILL happen for you.

It helps you think big.

It helps you plan the year.

And it helps reprogram your mind for success, with a daily boost to keep out all the negative stuff the media is throwing at you.

Despite what the media is saying, right now is an incredible opportunity for success minded individuals like you and I.  More wealth is made in the down times than the good… and that time is right here and now.

The choice is yours… will you do something differently right here and now that guarantees January 2010 will be a massive celebration at your house?  Or will you keep hoping and praying something will change… “one of these days”?

Make the right choice… I am here to support you in your quest.

To a fabulous year ahead!

Troy

May
11

Success leaves clues… are you listening?

Why do so many people insist on reinventing the wheel?

You see it everywhere…

…wanna be entrepreneurs that start and struggle because they are too stuborn (or stupid) to go to the local library or book store.  Hidden away inside these 2 locations lies the secrets to massive success.  Formulas that anyone can copy with similar success, but few do. They think they are smarter… and can figure it out in their own… WHY?

…new realtors or mortgage brokers who take the training they need to get their license, then forget to actually talk to those in their field who ARE successful.  Ya think that maybe… just maybe, those who achieved the success you want may just have something to sdhare that will shortcut your success.  A small chance yes.

… the list could go on, but that is not my point.

My point is: FOLLOW THOSE WHO WENT BEFORE YOU!

It will save you time, money, and some serious heartache.

I am in reminiscing mode… starting with my twin daughters turning 9 soon… and ending with my memories of the one person in my University program that taught me something applicable to entrepreneurs and small business owners.

Not to say that my business degree from the University of Calgary (double minor in entrepreneurship and marketing) wasn’t helpful… just that most of it is targeted at corporations and management level employees.

But, there was one teacher there that taught me some of the most valuable life lessons I have ever learned.

Lessons that continue to push me forward, and continue to help me achieve breakthrough after breakthrough in my business.

It all started in my last year of my Commerce degree.

Shannon Goodspeed was my professor

for Sales and Marketing

Now, I will be the first to admit that I was lucky to even make it to the last year of this program. I was not an A student, nor was I head-deep in my books. Most of the time I was elbow deep in some cold beer, living in a house FULL of partiers and non-students (who couldn’t quite understand this studying thing. To them, studying all ended in grade 12 – earlier for a few of them)

I was fascinated by entrepreneurs (having grown up in an entrepreneurial family – which is another point I want to make later). I read inspiring stories of entrepreneurs. I tried my hand at a few gigs in high school.

Throughout University, I paid the bills and tuition by owning a College Pro Painters Franchise in my summers (making more in a few months than many people made in a year).

But when it came to “what do I do after I graduate?”… I was at a loss. I wanted to run my own business – but my parents (yes, the same ones who were entrepreneurs) pushed hard for me to take a corporate job.

To them, and I love them dearly, entrepreneurship was full of hard work and heart-ache… and they wanted me to have it “easier”.

To me – money spoke… still does.

Ms Goodspeed mentioned one class that she had worked for Hewlett Packard, and had loved their corporate culture. They were a people-focused company, with good values and exceptional products.

Not long after she mentioned this, I was looking at the job posting for new Commerce graduates (the big companies started their interviewing process months before the graduates were done classes).

There were 2 postings that caught my eye: Xerox and Hewlett Packard. Both had openings for corporate sales type positions… and both were offering top salary positions (the best salaries you could get as a new graduate were for technology related companies).

So I did what ever single person in Shannon’s class

SHOULD HAVE DONE…

I went and spoke with her.

She was very open to sharing her thoughts on my strengths and weaknesses, and how best to position those in the interviews that I would be going through.

She helped me understand critical things like:

- what the big corporations are looking for

- what is involved in a sales position for a large company like this

- how to prepare myself for the interviews

- what to say, do and ask the interviewers

- how to follow up with them

She handed me a formula for landing one of these highly coveted jobs.

Guess what?

No one else in her class took the time to ask her for ideas. No one else took the initiative to actually research the companies they were about to interview with.

Few of them were prepared for what was about to happen…

Xerox was the first to start conducting interviews.

So I went off and did my research on the company, the interviewers, past employees, trends, etc – just as Shannon told me to do.

Then I got real busy preparing myself.

I found my “interview song” which I listened to religiously before every interview (another tip from Shannon… my choice on the song… “Hit me with your best shot” by Pate Benetar was very fitting for interviewing). I listed out my strengths and my weaknesses – and prepared for how to address both sides of the coin. And every chance I got, I was in Shannon’s office letting her guide me down the right path.

Xerox had 320 some people apply for the spot, myself included.

Interview #1 – done. Passed to the next.

Test #1 – passed. Passed to the next.

Interview #2 – passed.

Test #2 – passed

And on and on this went.

If I recall right, there were 4 or 5 interviews and 2 or 3 tests I had to complete, which I did, and which put me in the top 3 list.

Then I blew it.

They called me to tell me I was not the one chosen. And I dropped it, planning to move on. Which I did. Later I heard that all they wanted from me at the time was one last call in to them telling them why their decision was the wrong one – and why I was the right one.

That was all it would have taken to land the top job at Xerox.

Moving on to Hewlett Packard – NEXT!

Now I was a kingpin of interviews and putting myself at the top of all those being interviewed. Hewlett Packard was similar, over 260 people applying for the position this time. And their process was just as intense.

5 or 6 face-to-face interviews, plus 1 or 2 paper tests.

This time I was funneled down to the final 5 (from 260).

This time I was NOT going to blow the deal.

I persisted. Another trip to Shannons office for final ideas to close the deal.

From there, I was off to my final interview.

And I NAILED IT!

Out of 260 candidates, I was chosen to work out of the Calgary office (interesting enough, at the time, there was no Calgary position… it was for Winnipeg… brrrrrrrrr. They actually created a spot for me in Calgary.)

As they say, the rest was history. I was treated like gold and shuttled off to Silicon Valley for training for 6 months. My long career at Hewlett Packard lasted a whopping 3 years – when I finally realized the big corporate world wasn’t for me – the entrepreneurial companies WERE for me.

Thank you Shannon Goodspeed!

The skills you taught me during these interviews continue to this day to drive me to greater heights, and greater sales.

And hopefully you took out some of these ideas she passed on to me to reach higher, achieve more, and stand out from the masses…

1) Find your BIG reason why – I had my big dream put on paper, the income I was to earn, and the lifestyle I was to enjoy. This dream was in front of me every single day during the interview process.

2) What’s your song? Mine was “Hit me with your best shot” and it STILL fires me up when I hear it. I become invincible listening to that song, and it worked like a charm for an instant confidence booster. Find the song that fires you up and listen to it before every sales call, and before any event where you need a “shot” of adrenaline.

3) You can never over-prepare for something like business. I spent hours and hours pouring over annual reports, newspaper articles, books and press releases – looking for hot buttons to bring up in the interview – and to show them I knew why I was there and who it was I was sitting across from.

4) Become part of the culture. The HP (and Xerox) executives who interviewed me felt like I was one of them. Why? Because I had spend hours and hours on the phone with their employees. I had invested hours of my time talking to EX-employees, finding out what they liked, and disliked about their old employer. I knew what it was like to work for them – long before I did.

5) Never assume you have the deal until it is in writing. In my graduating class, there was a significant number of fellow applications who felt it was owed to them to have a good job like this, paid the high salary like was offered, and to work in an environment like that. To them, they didn’t have to try as hard. To them, this Troy guy was not nearly as popular in the little “cliques” so he was not real competition. I was. And I beat every single one of them in the HP process… and I beat out 317 of them with Xerox – it was my own fault (assuming the interview process was over. It wasn’t. One more call would have closed the deal).

6) A lesson Shannon didn’t teach me – but as the end result of all this. If you have a dream (mine was running my own business), you can take side roads to get there – but never forget to come back to your dream and make it happen when you are ready. My listening to my parents delayed my entrepreneurial journey a few years – in the end I came out living my dream, and loving my life.

7) Be careful what the big dogs in education will do. After I had graduated, I heard that they laid off Shannon from the teaching program because she didn’t have a PHd. The BEST teacher they had – gone. The WORST of them – still there (hey, they have their PhD, they must be great teachers – right? Wrong.)

8) Last… when you have a proven system that is working for you – keep using it. Simple, but often ignored. Advertisements, web pages, sales letters – if they are working to the best of their ability, never switch them. You can try and improve them, but never stop them.

You can go it alone and figure it all out from scratch… or take years off the learning curve by copying the formulas others are willing to share.

I know the smartest path… I follow it… and recommend you do too!

Apr
27

Marketing to the affluent… in a recession

One of the biggest opportunities today is the high end affluent market.

By far, this segment of the population is growing faster than the low or mid-range market. And, most important to marketing minded entrepreneurs, this segment IS still buying.

They may not be spending as much as before the drop, but they are still spending, and they are the ideal buyer to be targetting some of your efforts at.

You can always find a way to modify your offerings to this demographic… all you need is a little focus.

So where to start?

First, you start by targeting the right clients, engaging in effective and measurable business strategies and maximizing referrals.

One BIG key to success is zeroing in on Baby Boomers, the generation that owns the largest disposable income in history.

Combine this with the fact that Boomers have fewer and fewer obligations as their children grow up and leave home.

Add to that the fact where younger generations can easily postpone decisions on new purchases – while 55-year-old empty nesters don’t want to waste time or delay – they want it now and will go for it if treated and educated right.

More difficult buyers are always price shoppers. They want control of selecting products, from where and how low the price will be.

On the other hand, busy upscale consumers are more comfortable with having an all-in-one package delivered to their doorstep – the price is secondary in their decision. Make it easy for them – do it all for them – pamper them – treat them like kings and queens –and their decision just got easier.

To me, in this day and age, customer service has never been so disgusting.

Almost everywhere you go you see bad attitudes, badly dressed customer service staff (usually with 2 or 3 needles sticking out of their face – great impression), and bad perception on who it is that actually pays their paycheck (it’s the customer styupid – not your boss – he just signs the darned piece of paper).

So it doesn’t take much to stand out due to your exceptional customer service. Treat them like gold and they WILL tell their friends – who also are empty-nesters with money burning a hole in their pocket if they are treated right.

A few simple ideas to stand out:

  • Price higher than everyone in your market
  • Deliver the goods – train your staff better than anyone else in your industry, and incent them on customer service.
  • Participate in the community
  • Take sales training seriously
  • Stay in touch! You much learn to be proactive in your marketing efforts. Your existing clients should be seeing a print newsletter from you once a month.
  • Plus, they should also be seeing promotions, preferred client specials, client appreciation events, etc. Make them feel special, educate them on everything you offer, ask them to tell their friends, and sell them on buying more of what you offer.
  • Review your current client database, find out where your best sales came from, and figure out how to get to more of those people.

Take a close look at the clients who you believe do the most in-home entertaining, as these can be great referral candidates.

When they have their friends over for a dinner party – they will love to talk you up and praise your service. And those who love to entertain usually have big parties fairly regularly (hint: send appreciation gifts that are show worthy (likely to be displayed somewhere in their home) and they will proudly showcase how great you really are).

I realize this is just scratching the surface, but you must start thinking about this seriously. A whole seminar needs to be dedicated to this.

Remember, when you’re not selling your preferred client, someone else is.