quantity vs quality

We all want to put out quality content. But did you ever notice that people who put emphasis on quality never do anything? Why is that? It could be because they are lazy, but it could also be because they have imposter syndrome.

Most people have so much they can teach the rest of us but not enough self-esteem to do it. They convince themselves that they are going to put out the best piece of content ever but they never get there. Why is that?

I think the reason boils down to fear of failure. You see we don’t all just produce gold with every word we say and write. In fact, we say a lot of stupid shit before we get something worth mentioning, not to mention the good content. That means that quality is just a result of quantity. Meaning you have to put out a lot of content and only a small part of it is going to be good.

I remember hearing Tim Ferriss say that He spoke a friend of his who is an author, and complain that he wrote nine pages and ended up with just one good paragraph. And that friend explained to him that this is the writing process. You have to get the crappy pages to get the awesome piece of content. Why do you think some of your youtube videos do so much better than the rest? Why do you have posts that get ten or a hundred times the traffic that the rest of your posts do? You have to go through the process of creating to get something that stands out.

How do you create that outstanding content

Start with a schedule, decide how much content you create a day. Let’s say you’re working on a book, decide that you’re writing 1500 to 2500 words a day. For some of you, this will be easy for some it’s going to be unbelievably hard. But as long as you are willing to put in the work you will get results.

Now comes the hard part, criticism. You won’t be able to tell your content apart for the most part. You have to publish it on your preferred medium to get people’s opinions. Let your reader, viewers, whatever your following consists of show you what they like best.

From there you’re on your way to creating the content and with it the life you dream of living.

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how to be a good salesman – the four steps to assure that you crush the competition

We would all like to make more money. And to make me more money is to make more sales. But how do we make more sales? How do you make sure that our graph keeps showing a constant Improvement?  In this post, I’ll go for the four things you need to master if you want to crush your competition. Here are my thoughts on how to be a good salesman

Sell the clients what he needs, not what you want to sell

A good salesman listens to his client. And doesn’t sell what he wants to sell but what the client is looking for. Sometimes that means selling the cheaper product, sometimes that means not going for the product you were hoping to sell.

Understandably the company has goals and certain products are trying to move. And I understand that commissions they’re willing to pay for those products are much higher. But getting a client to buy from you in the first place is not an easy thing. So burning him by selling him something that he doesn’t need it just going to hurt you, in the long run.

Give the client what he needs and the next time you’re going to see him it’s going to be because he wants to buy something else. And not return the item you sold him.

Ask questions that reveal what the clients is really looking for

In order to sell the client’s the products he needs, you first need to understand what that is. You do that by asking questions, not just you know what item are you looking for? Or what do you want to buy today? Ask him what the product is for? What he’s going to do with it? 

When I was working in the kitchenware store. One client came by to buy a pressure cooker. We had two types of pressure cookers one 6 liters and 8 liters. The saleswoman who spoke to the client was afraid to sell a more expensive product. So she talked to the client about the 6 liters pot, only to find out that we don’t have it in stock.

Now we have to wait a week, this can give the client time to change her mind. And the difference between the two pressure cookers was about $25.  I decided to ask one simple question. How many people are you cooking for? Understanding how the product works allowed me to point out that you don’t fill the pressure cooker all the way to the top. You’re meant to only use half of its space or even a third. So if the client was cooking for only to 3 people the 6 liters would have been enough. If she was cooking for more, let’s say 5 to 8 then she would need 8-liter pot.

Once the client understood she herself asked what the differences between the 6-liter and the 8-liter because she wants to buy the 8.

Followup

Following up with a client this crucial, most of your clients are not going to buy on the spot. You’re going to hear a lot of “I need to think about it”. That’s understandable it happens in any field, but if you don’t follow up with your clients you’re losing a large chunk of sales. Only a small percentage of clients will buy on the spot. That is about 1/3 or 1/4 of a number of sales that you could be making. If you don’t follow up with your clients you’re losing about 60% – 80% of your sales.

The phone conversation should sound the same as a conversation you had in your face to face. Ask the client how he is and if you had time to think about your last conversation.  Ask what can you do to help. From there the conversation is going to flow easily. the client may ask you for another follow-up or two that’s because most people have a hard time making up their minds they’re afraid to make a mistake and that’s something you should keep in mind when following up make sure to provide all the information to client means think of it as a checklist if you marked on all of these the client should buy if he still wants to think about it that means you miss something ask questions and find out what you missed

The client may ask you for another follow-up or two. That’s because most people have a hard time making up their minds. They’re afraid to make a mistake and that’s something you should keep in mind when following up. Make sure to provide your clients with all the information they need. Think of it as a checklist, if you marked all of V’s the client should buy. If he still wants to think about it that means you miss something.

Put your loyal customers before new ones

Loyal customers are the most important commodity any business. The mistake most businesses make is putting new clients before loyal clients. I can’t stress this enough clients cost money and a lot of money. If you already have a client you have to do everything in your power to keep him. The way you do that is by offering him a better deal than the new client.

Think about it if you are a loyal client of a company for 5, 10, or 15 years. And a new client gets a better deal, how would you feel? I’m willing to bet you did you would feel betrayed. After being loyal to a company for x amount of years, this new client shouldn’t be getting a better deal than I am.

Loyal clients are also your best chance of getting referrals. They have worked with you for years, and as far as they’re concerned doing their friends a favor by referring them to you. They refer you to their friends because they want to provide them with somebody they know will give them the right service. Get in the habit of giving your loyal clients incentives to give you referrals. You can go as far as giving the new client a deal as good as the loyal client just not a better one.

in conclusion, sales is not a difficult thing to do, but it is a grind. As long as you’re willing to do the work you’re going to get your commissions. Just make sure to be smart and use common sense. Treat the client the way you would like him to treat you if the situation was reversed.

 

The upside to losing $100,000

When I was 20 years old I had a business that failed, not because I couldn’t get clients, but because the tax laws were too harsh. It took me years to pay back the money I lost and I was so angry at the world. But yesterday after getting an offer to invest I noticed that there was an upside after all.

First of all, I learned how to poke holes in any idea I hear, and to calculate the odds of making a profit off an investment. And secondly, I’m not afraid to lose. That doesn’t mean the I’m going to run around investing in anything I can arrange the money for and cross my finger hoping it will work. But it does mean that when I choose an investment I can let go of the fears I have about how well the investment is doing.

Realistically only 10% to 12% of investments are going to work out. So having the ability to cut and run is important for all of our futures. I see people working in a field they hate just because they spent a lot of money on education. You need to accept the loss and move forward or you will be miserable your whole life.

Never fear the loss, it’s just money after all. And if you don’t take a chance? What chance will you have to change your life?

Whatever you focus on expands, so why is it so hard to make more money by focusing on it?

When you focus on your family your family will expand. If you focus on your business your business will also expand. But it’s not the same thing when you focus on money. Why is that?

The main reason is that when you focus on money, you start over optimizing. You start retracing your steps and constantly trying to improve them, which is basically a good thing. But too much of a good thing is bad for your wallet. Not to mention that money is not the process it’s just the score.

Think of a basketball game, the process in the game working with your team to give your 110%. As a fan, you focus on the score, but if the players would focus only on the score they would try to over-optimize their shots resulting in a horrible game. A game that is not fun to watch because it will be too technical. It’s the same with your business.

The process is working with people, finding out what you can do to improve their lives. That’s the game, the money you are paid is just the score.

So if you want to make more money you have to focus on your clients. You have to make sure you’re giving them the best experience you possibly can. You have to make as many raving fans out of them as you possibly can. When you do that the money will take care of itself. You will start to see a constant increase in your bottom line.

Want to increase your sales? Use this method to double or even triple them

We all know that you need to check the right V when selling your product. The fact that some clients hide their abjection to buy just makes it harder to do your job. Wouldn’t it be great if there was a tool that would help you uncover the reason that prospect didn’t buy?

The follow-up

People have gotten used to having things done easy and on the spot. While this will work, it will only generate a low conversion rate. If you follow up correctly it will provide you with two things. One is the option to close another client. And two, it will increase the types of rejections you know how to deal with.

The wrong follow up

The follow up is not meant only for the client that says they will have money in a week or so. It’s a great way to gather more information. But you have to be smart, don’t just go for a quick close. Ask questions, let the prospect know you want to understand him.

The right follow up

If you’re talking to a client that asked you to call back later, ask him how he’s doing. If he indicated that he was on a trip ask how it was. Try to get him to bring up the product you want to sell.

If you’re calling a prospect that already said no to your product, acknowledge it. Start the conversation with “We talked a few weeks ago and I understand you don’t want to go forward, may I ask why?” When you acknowledge the fact he said no, you defuse the tension. He’s no longer defensive and waiting for your pitch.

Now that the prospect is willing to listen to you, ask what you could have done differently. What he was expecting but didn’t get. Sometimes those requests will be out of the question, but sometimes they will be small requests that you can solve on the spot.

So when he brings up one of those small rejections go deeper into it. Let’s say he said the price was too high. Ask him if he got a lower price and what it was. If the difference is something you can comfortably handle, ask if he would close now if you gave him a discount.

It’s that easy

Not everyone is going to buy, but if you increase your conversions by 3% to 5% isn’t it worth it?

Is your CRM screwing up your business?

We are all humans and can’t possibly remember all our clients and tasks, that’s what CRM programs are for. The problem is that programmers are more times than not like the rest of us. They have flawed logic and think like machines. A CRM is not just meant to keep data, but to display it in a manner that allows the user to get the information he needs when he needs it.

So here’s a list of unacceptable flaws a CRM can have that are causing you to lose money.

An unorganized CRM

Sounds stupid I know. But sadly there are a lot of CRM’s out there that have no way to organize. By that, I mean that you can’t mark an action on the list of contacts indicating that you have completed a task. Either marking or removing them from the list is crucial to work quickly and efficiently.

CRM’s that don’t allow you to mark your tasks cause you to go over and over the same contacts. This is the main reason CRM’s were invented, providers that don’t get this simple concept should not be allowed to slow your business down.

A CRM that is too slow

The employees get paid for their time but you don’t. The more actions you can take in a day will determine how much money you can make (I’m talking about your whole team here). Thank god we’re not in the dial up era, we shouldn’t have to work as if we are. CRM software sends and receives text from the server, so there’s no excuse for slowness. I’ve seen CRM’s with up to 5 second response times. Can you grasp how much money you would lose in a 20 man call center if every action is delayed 5 seconds?

As little as it sounds, you would lose up to two-thirds of your effectiveness. That means that for every dollar you pay your team you’re flushing two more down the toilet.

Goals

I have seen only a handful of CRM’s that incorporate goals, you would think there would be more. Your workers don’t care about your business, they care about their paychecks. Instead of having to remind them what is expected of them, wouldn’t it be easier to show them? Having a gauge showing them what actions they have to take today. And how close they are to completing them will do wonders for your business. It doesn’t have to be something graphical just some indication of how many actions they still need to take today.

I have been working with a CRM for the past few weeks that fails miserably in all of the above. And my clients don’t see why this is important. I can’t help someone who doesn’t want my help, but hopefully, I can save you some money.

The single mistake that kills most businesses

They’re many points failure in business. But most more times than not the smaller points of failure are much more dramatic than the big ones. Because when something dramatic happens you notice it on the spot and take care of it. But when something small starts germinating in your business you don’t always notice it. At least not until it’s too late. The point of this post is to show you one of those small points of failure that destroy most businesses, and teaches you how to avoid it or at least correct it.

Business owners that have failed will tell you that the problem was cash flow. But cash flow is a broad term. It’s a specific part of the cash flow that killed those businesses. There was one thing specifically that they were doing wrong. If they just paid more attention to that point their business would have survived.

I’m talking about discounts, or to be more precise discounts that cross the profitability line. When you price your products you know exactly when you’re not profitable anymore.  You know how big of a discount you can give your client before you start losing money.  Understandably your Salesforce doesn’t know that, neither does your retention or customer service.  It’s your job to make sure that there are clear lines that cannot be crossed.

But we’re talking about smaller businesses,  businesses with only the owner and one maybe two employees.  Those business owners are trying to get clients by any means necessary and sadly more times than not the competition comes down to price.  Let me just make one thing clear, if the competition comes down to the price you’ve already lost.  You either lost a client because your competition is giving a lower price or you lost your profit margins because you priced too low either way you lose.

It sounds like something simple, something small but it’s not.  I have no known businesses that have failed after 12 to 20 years of service to their clients because of this little loss. This little leak has grown throughout the years to a point where it’s an unstoppable boulder crushing your business.

I’m not saying not to give any discounts what I am saying is pay more attention. If you do things right you can give those discounts and still be profitable.

How do you do that?

Calculate the bare minimum,  how much do you need to charge to Simply break even.  Add 30% to that as your minimum profit.  this is the bottom line This is as low as you can go.  add another 30 to 40% to that. This little modification provides you with two important tools.  One it will provide your starting point from which your client can Haggle you down from.  And two it provides a safety cushion just in case too many clients are asking for that discount the few that won’t and will pay full price will cushion your profits and make sure your business services.

As you’ve seen these discounts can increase your sales but they might also destroy your business. Marking up your prices will provide you with a needed cushion for the loss your mistakes will cause. Until you learn to distinguish between good clients and bad clients.