Wednesday, March 31, 2010

How to Never Place a "Cold" Call Again, and Prospect Successfully
by Art Sobczak

Cold calling.

Just hearing the words causes chest-tightening, loss-of-breath anxiety for many.

And it's dumb. I suggest you never place another one. In fact, never even use the term when referring to professional telephone prospecting. You can prospect by phone successfully, when you are Smart about it.

Let's look at a prospecting call opening from a sales rep who "gets it."

"Hi Michael, I'm Pat Stevens with Insurance Partners. Hope you enjoyed your golf vacation. In speaking with your assistant, Suzanne, I understand that you are evaluating your competitive edge in the employment market and what you can do to attract and keep the top talent in your various locations. We've been able to help other companies in the same situation lower their recruiting and hiring expenses, and increase their retention of managerial staff. I'd like to ask a few questions to see if I could provide you some information."

Pat was able to do a number of positive things in this opening:

• He used Michael's first name, since he knew that Michael was somewhat of an informal guy who no one called "Mr. Johnson," and hated to be called Mike.

• He knew Michael is a huge golf nut, and just returned from a golf weekend

• He mentioned Michael's assistant Suzanne, adding credibility

• He knew that the company had recently missed out on some managerial candidates who were hired by the competition because of a better benefits package, as well as some existing employees who left for that reason

• He did not talk about insurance or benefits, but instead, results-- the precise results that addressed the issues that Michael now faced.

And all of that took place in the first 10 seconds or so. Later in the call Pat also:

• Asked questions to which he pretty much already knew the answers about the company's growth plans, their position in the marketplace, and the existing benefits package and how people felt about it.

• Commented on the great article that Michael had written for Construction Executive magazine.

• Asked about Michael's experience working with one of his company's competitors prior to coming to work for this company two years ago.

As a result of all of this, Michael of course viewed Pat not as the typical sales rep, but as someone who understood his business and what he was concerned about right now. Plus, he liked Pat. And Pat got an appointment.

How did Pat accomplish all of this?

The same way you can. Pat did his research. He did Smart Calling. There's no excuse NOT to. He used several search engines and other online resources and social media sites to get personal and professional information about Michael, his company, and industry, and very importantly, what Michael was concerned about right now.

Then Pat used "social engineering," the process of speaking with other people within Michael's company to gain intelligence about the company's current situation regarding their recruiting, hiring, and retention issues, and present benefits package. He also learned about Michael personally from his assistant Suzanne and a few others in the department.

Notice that Pat used a conversational, soft-sell approach in his opening to minimize resistance, and to create interest and pique curiosity. This put Michael in a state of mind where he wanted to hear more.

Can you see the difference between this and a typical "cold" call, where the sales rep knows nothing about his prospect, and is simply smilin' and dialin', repeating the same tired lines and closes to everyone who will listen?

There is no reason - other than laziness - to ever place a "cold" call. Use these ideas to make your calls Smart, and successful.

How are you using the power of first impression?

You have THE meeting. The CEO has agreed to give you 30 minutes. This is the opportunity you have been hoping – working – for.

Now is the time to hone your presentation to perfection… or is it?

Do you honestly think the CEO wants to hear you rant for 30 minutes?

First of all, he or she will most likely decide in five minutes or less if you are someone he wants to do business with. And second of all, whatever you're selling, chances are he already knows about it.

Now is the time to prepare a greeting, an opening exchange, and 10 killer questions that separate you from the competition.

And you better figure out what the brief opening exchange will consist of.

You gonna give the CEO your business card? Or worse, your literature?

You probably believe you have the best product or service in the market – now tell me your business card is the BEST you have ever seen. And that your literature is the same: BEST.

Yeah right. Your literature is self-serving, and your business card is somewhere between a joke, and embarrassing. Certainly not BEST.

HISTORY: I have asked 500 audiences the question, "Which do you think is a more powerful way for me to make a first impression, with my business card, or an autographed copy of one of my books?" They unanimously answer, "With your book." (And keep in mind I have a GREAT business card.)

Then I ask, "Which do you think is a more powerful way for me to make a business first impression, with my brochure or an autographed copy of one of my books?" They unanimously answer "With your book."

And the same audience goes out the next day, and introduces themselves with a business card and a brochure.

I don't get it.

I have given them the answer to a powerful business introduction, and they don't change a thing.

In their mind they think, "I don't have a book," or "I haven't written a book," or "What would I write a book about?" Or they think, "This is what my company gave me, and I'll just wait until they give me something else," and drop the thought, even though it would make an incredible impact on their first impression and their credibility. In short, they are giving up their edge, their WOW.

I don't get it.

Salespeople are looking to differentiate themselves. They are looking to provide some value beyond their product or service to the customer. They are looking for something that will prove to the customer that they are superior to their competition. They moan that their product (whatever it is or isn't) is becoming a commodity. And they don't do anything about it.

I don't get it.

Do you get it?

What are you willing to do?

What are you willing to change, so that when you do get that CEO meeting you are ready to make a great first impression, an impressive first impression, a differentiating first impression, and earn a sale?

Here are a few things you can do that will help:

Change your title. Make it fun, but serious. Profit Producer. Productivity Expert. Creator of Great Ideas.

Print your own card. Can't be any worse than the one you're carrying. Use both cards – one for image and one to prove creativity.

Bring a fun idea. One that helps them.

Bring a fun book. Seuss-isms. A small book about the big wisdom of Dr. Seuss.

Bring a short classic book. A thought book. One that makes the CEO think about himself and thank you. Acres of Diamonds or Message to Garcia. The best source for these books is www.executivebooks.com.

Write a white paper on safety, their industry, productivity, or leadership. This will take time and hard work, that's why most salespeople won't do it. But every CEO will appreciate it, and read it. Make sure you autograph it as you present it.

Bring an idea for improving or enhancing THEIR business. This takes time, research, and creativity, but it will get you in the door, and keep you there.

CAUTION: One of the biggest and most fatal mistakes that salespeople make is "waiting" for someone else to give you sales tools. NO, that's not how great sales are made. That's not how you engage a CEO. Great impressions are made, great sales are made – and made often – with tools you give it to yourself.

Creative Ways To Market Your Store

By Nicole Reyhle

Tired of the same old, same old marketing tactics that every other store in your community uses? Postcards, special events, sales and advertising are all great ways to gain visibility, but there are other ways to gain valuable attention that can drive business to your cash register.

blog post photo
Nicole Leinbach Reyhle

Here are a few out-of-the-box marketing ideas:

1. Launch a front window display contest.
You can offer this opportunity to anyone in the community or reach out to specific group of people to participate, such as a local college or high school. Create buzz about the contest by promoting it to the local media. Have your partners in the contest, such as a college, do their own promotions as well. Stretch out the contest over the course of a month for a highlighted, elongated event that will create ongoing buzz.

2. Sell store gift cards at other local businesses.
This is a great way to encourage cross promotion between local businesses, as well as gain a new audience for your store. Even if nearby business owners don’t sell a ton of gift cards to your store, the exposure will still offer the opportunity for your store to be introduced to new clients. To better support this, include an enticing visual display to feature the gift cards.

3. Hold monthly or bi-monthly seminars or clinics at your store.
Depending on your business, you can educate your customers at the seminars or clinics, provide knowledge on products you sell or provide “how-to” information that relates to your store assortment. Don’t underestimate the value of bringing customers into your store for reasons other than shopping. This is a great way to show you support them and in return, they just may end up shopping.

4. Volunteer your time by offering speeches on career days at high schools and colleges.
Depending on your target market, this could introduce you to a whole new audience of potential customers. Make sure to “sell” your business during your speech.

Finally, don’t be afraid to try new things. Look for ways to promote your business in non-traditional ways that bring new eyes to your store. Be open to new ways to promote your business so that you can gain new customers while keeping your existing clientele. And of course, when you find something that works for you, make sure you do it again and make a big deal out of it each time. The best thing to do is to keep up with marketing, though. Those that avoid marketing altogether are typically the ones that fall behind.

Monday, March 29, 2010

"Slump? I ain't in no slump. I just ain't hitting."

Yogi Berra

How to Get Out of That Damned Rut
By Michael Masterson

"How do you get out of a rut? Regain passion for your work? Get yourself up for each day? Have you thought about this?" asked Leonard, my good friend and business partner. "It happens to me often," he said. "And it makes me miserable. I feel guilty and useless, because I tend to waste away the day. The only way I can get back into it is to get on a good roll with a new project. But sometimes that takes a long time."

What can you say about this experience that Leonard describes? That it stinks?

You wake up tired and unmotivated. You dread work. Everything seems more interesting than what you have to do.

The feeling can pass in a few hours, or it can last for days -- even weeks. It is entirely unproductive, and completely unnecessary.

I'll tell you how to banish this feeling from your life in a moment. But before I do, let's talk about why you occasionally fall into a rut.

The Following 4 Paragraphs May Be Unsuitable for Children and True Believers

The reason you occasionally feel that your work has no meaning is because it has none.

The same goes for your life. The universe is -- sorry to say -- a void, not a magical kingdom created for your personal amusement.

Meaning -- and the passion that goes with it -- is not something that exists outside of you. It comes from within. You can't capture it. You can only create it. The moment you stop creating it, it is gone.

The feeling of malaise you get when you fall into a rut is a letdown of energy -- energy that you have been creating all along.

Okay... maybe you don't buy that. A meaningless universe might contradict your beliefs. But it doesn't matter. Because what I'm about to tell you will work regardless of whether you understand the cause and effect of it all.

Let me start by saying that if you are feeling bad, it's probably because you are doing something/someone/somewhere wrong.

You Should Be Doing What You Want to Do... With Whom You Want to Do It... Where You Want to Do It

If you have a job you really don't like, it might pay to change careers. The same holds true for the key people in your life. If you have surrounded yourself with energy-sucking losers, give them the heave-ho. Same holds true for your neighborhood. Does it depress you every time you think about it? Do you dream of warm weather and sunny skies? (Come to Florida!)

On the other hand, if you basically like your work/colleagues/location, don't waste any time thinking about changing them.

Three Steps to Getting Yourself Out of a Rut

As I said, there is no reason to ever be in a funk. And here's better news: Getting yourself out of a funk is relatively easy to do.

Step 1. Recognize that you are very low in energy... and energy is what you need. Imagine that there is a motivation panel inside your brain. The panel contains dozens of fuses, each one a conductor of energy. When you hit a slump, many of these fuses have blown.

Blown fuses -- any sort of negative, self-deprecating, or self-limiting thoughts -- must be removed before they can be replaced with good ones.

To take out your blown fuses:

  • Recognize that your slump will pass. (It passed before, didn't it?)

  • Try not to be mad at yourself. (After all, this is basically a biochemical problem.)

  • Remind yourself how lucky you are. (Think Christopher Reeve.)

  • If you are worried about a particular problem, imagine the worst outcome and then figure out how you will survive it. This will neutralize the anxiety.

Step 2. Do something -- anything -- that gives you a little lift. The idea is to think/say/do a number of things that you've found through experience charge you up a bit. Some things that work for me might work for you. Try these:

  • Put on some music. Loud. This morning's selection for me was "Help Me Rhonda" by the Beach Boys. Very therapeutic.

  • Dance. (Make sure no one is looking.)

  • If you can't force yourself to dance, do some kind of wild exercises. Frantic jumping jacks. Leapfrogging across the carpet. (Do this in private too.)

  • Stand in front of a mirror and smile. Smile one hundred times. Did you know that the physical act of smiling releases endorphins? You won't believe how good this makes you feel until you try it. Go ahead.

If you do enough of this kind of stuff... and you've really rid yourself of your blown fuses... you are ready for the third step (which is really the key to the entire process).

Step 3. Complete a worthwhile task -- something useful that has value to you.

The trick is to have a ready inventory of meaningful tasks that need doing. If you are a busy person, this won't be a problem. The tasks you have set aside in inventory should be relatively small in scope, though. You should be able to complete them in a few hours at most.

I can't even begin to guess what your inventory would look like. Mine usually includes writing something (like a short story, a scene for a screenplay, or an essay for Early to Rise). It might also include something more mundane (like replacing that light bulb that has been out for six months).

Remember that the job must be important -- to you -- and you must do it well. If it is and you do, you will be out of your slump by the time you are finished with it.

This three-step process works every time. Getting out of a slump is all about forgetting the problems that are draining your energy and getting involved in good, energizing work.

One more thing: When you feel a slump coming on, don't ignore it. Act immediately.

Thursday, March 25, 2010

Ten easy ways to get more referrals

A Business Perspective
By Ray Silverstein


When it comes to sales tools, few things are more powerful than customer referrals. They are simple, effective and absolutely free, yet many entrepreneurs are reluctant to request them. If you are one of them, it is time to rethink your approach.

Every business relationship can potentially lead you to other relationships. These are golden opportunities. Assuming customers are happy with your products or services, why be shy about asking for referrals? In a tough business climate like this one, can you even afford to be?

We know buyers prefer to deal with companies they know. When that’s not possible, a personal referral can increase a buyer’s comfort level with a new vendor. I may not know you, but if someone I trust refers you, well, that’s the next best thing.

It is not difficult to request a referral. Often, it is simply a matter of seizing an opportunity, or getting into the habit of asking.

For example:

1. Whenever a customer says something positive about your company, respond with a thank you, followed by a prompt referral request. Look at it this way: you just earned it.

2. The quickest way to get referrals is to do a great job. So find out what “great service” means to your customers, then provide it. Ask for feedback, both informally—say, during a phone call—and formally—perhaps through satisfaction surveys. When you get positive feedback, use it as a springboard to ask for referrals.

3. Now, take that one step further and encourage your customers to complain. Yes, really! Complaints, no matter how trivial, give you an opportunity to solve a problem and be a hero. When you win over a once-dissatisfied customer, it is a major coup. Picky customers often give the most compelling referrals.

4. Why not make referrals part of your front-end agreement with new customers? Simply state, “We’re going to work hard to prove ourselves to you. Once we do, will you give us three referrals in return?” People like go-getters. Be one.

5. Build relationships with people who can provide you with referrals, and always return the favor when possible. Thanks to social media like LinkedIn and Facebook, it is easier than ever to build a network of mutually supportive contacts.

6. Once you’ve got a network, work it. Beyond referrals, offer your contacts support. Share your resources and solutions to common business problems. The more you nurture these relationships, the more people will think of you when it’s time to give a referral.

7. Do not assume your friends and contacts know what you’re looking for in a prospect. Describe your target customer as specifically as possible, and encourage them to do the same. It’s more effective and efficient for both of you.

8. Always carry a few business cards. You never know who you may run into, who they will be with or where conversations may lead. When you meet someone you would like to connect with, don’t be bashful. Ask if you may call them to set up an appointment.

9. Make the most of networking events by planning for them. You know people are going to ask “what’s new?” So have a fascinating answer ready. Talk about a new resource you found, an intriguing new client or some other interesting tidbit about your business.

10. Don’t enjoy networking events? It’s easier if you set goals for yourself. Identify what kind of people you want to meet and what you would like to learn. One of the entrepreneurs in my small business peer groups sets very specific objectives for herself: “I’m going to introduce myself to the speaker. I’m going to meet three new people. I’m going to introduce two people I know to each other.”

Remember, there is no shame in requesting referrals. After all, you only get them when people are happy with the quality of your products or services. Remind yourself that all referrals are earned. But sometimes you do need to ask for them.
But Wait, There's More!
Direct Response TV Secrets
That Will Explode Your Business
By Fran Harris
Okay, it's 1:32 in the morning and for some reason you just can't sleep. So you turn over, find the remote and start channel surfing. Nothing's on Lifetime. Nothing's on TNT. There is an old black and white on the Hallmark Channel but nothing that really rings your bell.

You keep clicking until you stumble upon a split screen of a woman at 235 pounds and on the right side of the screen, the same woman at 127 pounds. Amazing! You're hooked. Even though you have no idea who this woman is, you find yourself listening to her heart-wrenching story.

C'mon, admit it, you've watched an entire infomercial before, right? Of course you have. And that's precisely how I know that you too can use late night direct response commercial tactics to grow your enterprise - no matter what business you're in.

If you're honest and if you're like me you probably have a fitness or cookware cemetery. An area in your house, basement or garage where you keep all of the equipment you bought between 1 and 4 a.m. over the past few years. It's okay, you don't have to admit it, it can be our little secret.

But here's what's so powerful about your fitness or cookware museum. It proves that infomercials work. And if those companies could entice a savvy consumer like you to pull out your credit card in the middle of the night to buy a product that you probably didn't need -- and have probably only used a few times -- there's a chance that your marketing can have the same impact on your target audience.

Let me come completely clean.

I love infomercials. I am a direct response superfreak. In fact, I study the business like I'm going to be tested on it next week. At one time I even DVR-ed every direct response commercial across 4-5 networks for one full week. That's how fascinated I was (am) with the business. This year I also pitched a product to one of the top 3 direct response players in the world. What a blast!

If you want to significantly increase your business in the next 30 days, here are six of the same power tips that have helped build a $700 billion dollar industry known as infomercials.

Tip #1: Come out of the gates strong
Your marketing messages are competing with so many other products or services. What can you say or do to break through the clutter immediately? Use sound, color and visuals to get your customer's attention. You have about 1.5 seconds to grab me by the throat and persuade me to do business with you. If you fail to hook me in the first few seconds, your chances of converting me drop significantly. So, don't waste time.

Tip #2: Use emotional triggers that signal gain or loss
We humans care about two things: what's in it for us if we take action and what's going to happen to us if we DON'T take action. In other words, you must appeal very strongly to our addiction to pleasure or pain. Why do you think weight loss infomercials are so successful? Because they promise an incredible payoff: a beautiful body. The ultimate pleasure. Some consumers are wired to avoid pain, others are wired to run toward pleasure. And since you don't have the luxury of being in your prospect's heads, you have to incorporate a little bit of pain and pleasure into your marketing copy.

Tip #3: Make me an offer I'd be silly to refuse
It's not enough to make me an offer I "can't" refuse. You want me to feel absolutely silly for not taking you up on your ridiculous offer. That's why infomercials say, "But wait, there's more!" Then comes the free shipping, the extra products, the no payments for 30 days, the unbelievable guarantees and so forth and so on. How ridiculous can you make your consumers feel for not buying your product? That's the goal.

Tip #4: Address the objections in your copy or ad
It's one thing to know why your customers buy, but it's even more powerful to know why they object to buying. Most marketers are so focused on the age old 'features tell, benefits sell' adage, that they forget to address why their offer "repels". If you're selling something to executive women and you don't take into account the realities of their demanding schedules (and address those realities) in your marketing materials, you will never dominate this market.

Tip #5: People buy based on emotions, not logic
At a recent seminar an attendee came over to tell me that she disagreed with my statement that "people buy on emotions". I listened and laughed. Here was her rationale. "I attended this seminar because I was seeking specific benefits." And what were those benefits? I asked her. "To learn how to grow my business." Why would you want to grow your business? I asked. "So I can help more people." Why would you want to help more people? I asked. "Because it feels good to make a difference." Thank you. You JUST proved my point.

Listen, peeps, do not get it twisted. Emotions are at the core of everything we do. We're looking for a specific feeling or experience. Don't fight me on this! (I sound like my mother now). If you don't believe me, keep attempting to appeal to people logically and you'll be blue in the face before the day's over. I've sold millions of dollars in products and services and I've done so by never forgetting one key point: people buy on emotions.

Now, this doesn't mean that it's not ALSO logical for them to make a buying decision. Sometimes it is. As a marketer you need to get laser focused on the emotions that drive your audience to take action.

Tip #6: Get me to take action NOW!
We don't do anything if we're not required to do it right now, in this moment. So, why is it that most of your marketing materials score high on the fancy-schmancy scale but low on the "get them to take action now" scale? Because most entrepreneurs are lousy at what I call "now marketing". Does your business card compel people to do something immediately? Probably not. But I bet it's pretty. And I bet it gives people 3 or more ways to reach you, doesn't it. Guess what? Nobody's going to call you unless you compel them to do so urgently. Does your website practically force your visitors to call you, give you their email address or buy something? Probably not.

Here's the thing. If the principles behind direct response television didn't work, you'd never see another infomercial. Period. But they do work and that's why you can't turn on the television without bumping into a George Foreman grill show.

So, let me give you 3 quick hitters that will instantly make a difference in your business.

Business Card
Pull yours out. Are you giving away something free or at a discount on your card? Then you may as well not have a card. Try this. On the front or back of your business card, give away a free CD or a 20% discount on their next purchase IF it's made in the next 3 days. Make doing business with you an urgent necessity and your response rate will soar.

Website
I bet you have a box that reads, "Join my newsletter", don't you? Nobody wants to join your newsletter. I don't know anyone who's saying, "I need more newsletters. Ya know, I just can't get enough newsletters." So, bust out of the newsletter pack with something different. How about giving away a free book to the next 25 folks who sign up for your video coaching series or the next 10 folks who call your toll free number?

Get Creative
Pick a day of the week when you can do a live coaching call. Broadcast it live on ustream.tv where people can log onto the Internet and interact with you live. During this call you can do all kinds of fun stuff like giveaways and prizes. And you can even do a live infomercial where viewers can get special pricing on your products if they buy before the end of the broadcast!

You've gotta make doing business with you a must. And one sure way to see a surge in your business is by implementing these battle-tested tactics from an industry that understands one thing: how to turn suspects into prospects and prospects into action-taking customers.

Tuesday, March 23, 2010

5 Tips for a Simpler Selling Process
By Andy Horner, The Ace of Sales Wizard of Ahh's

My garage is a disaster! Boxes of junk are stacked to the ceiling full of old toys and entangled tools. I can't find what I need, when I need it. I have no process! Rather a feeble attempt to shuffle stuff around or clear off a worktable to find room. I need a new system. If I had a system in place: tools would be organized on shelves, a roll-up caddy would hold my garden hose, wall hooks would make it easier to grab a bicycle or weed-eater. But I don't, instead I look at it feel overwhelmed, and walk away.

Many people have the same struggle with their sales process. They have plenty of contacts piled up without organization or automation. The lack of an efficient follow-up impacts their ability to successfully build customer relationships.

Jeffrey Gitomer's new Ace of Sales program is designed to provide you with a process for making sales. No, we're not talking about complex data analytics or granular metrics. It helps you interact with your contacts in a fun and easy way, differentiating you from your competition. In other words it takes that messy garage and cleans it up for you without the sweat and frustration of not knowing where to put everything and how to keep it organized.

Below are the five major weaknesses salespeople face plus a few tactics Ace of Sales customer's are using to build loyalty and making lasting impressions.

1. Attract Rather than Cold Call - Cold calling is often a door slamming interruption that blows your chance to build a relationship, the way it was meant to be built - over time. Email, ezine, and postcard mailings are the customized tools connecting you with your customers. Twitter, Facebook, and blogs are your every day information channels to share your daily tips and build current relationships, while attracting new customers. These are the channels to build your name and most of all spread your message, people will look to your postings for advice instead of you pleading to get past the gatekeeper.

2. Setting the Appointment - Prospects respond when you stand out. Differentiate yourself in a unique way by sending personalized cards and emails; include pictures that will catch their attention and connect with them on an emotional level. For example Jim sent an image of image of his newborn baby with the quote, "My daddy would like to meet with you." You have made the prospect smile and stood out from your competition.

3. Engage the Prospect with a Value Message - After the first meeting salespeople send a proposal and wait. After hearing nothing, they call, and leave a voicemail asking “have you received my proposal yet?” If you follow Jeffrey's advice, you'll come out of the first meeting having identified your prospect's buying motives. To engage the customer and give value send an email with a picture of a light bulb saying, "Here's an idea..." In the body of the email, give two of the three ideas describing how you can help them and close with a time and place to meet for you to share your third BIG idea.

4. Following Up Creatively - Doing something unusual, unexpected, or humorous prompts response! After meeting with your customer send a follow up greeting card with a picture from your outing and a gift card that relates to a personal interest you both share. This takes an ordinary card and turns it into something extraordinary, treasured and sitting out on their desk. And next time they go to their favorite spot and use your gift card they will be thinking of you.

5. Staying in Touch with Existing Customers and Prospects - Send out a value message every week with information that your customers want to hear: knowledge that can help them grow their business, or tips about getting the best out of their product/service they buy from you. By publishing a weekly ezine you can include this information along with success stories about your customers, video testimonials, and product updates. Make staying in touch fun, exciting, and something everyone looks forward to each week.

Rapport is elusive business currency. Find it, build it, and bank it.

Rapport is elusive business currency. Find it, build it, and bank it.

Jeffrey, In your presentation you said if you can't build rapport, don't start. I deal with attorneys. What is your recommendation if a prospect just won't build rapport? Kevin

Kevin, If an attorney prospect "just won't build rapport," it's because you haven't asked them the right rapport building questions. Ask about the toughest case they've ever had, or the reason they chose to get into law, or the most rewarding part about their career. Ask something significant about them. I've never met anyone that won't spend a minute or two talking about themselves.

Many salespeople make fatal mistakes trying to establish rapport around "things" - the weather, the ball game, the economy, or the news. That's not rapport; that's idle chatter. Real rapport has an emotional base to it. And it comes from the prospect's personal experience, personal opinion, and personal wisdom. The key to earning rapport is keeping it light, and keeping it positive. There's a secret of rapport, and the secret is "the link" - finding things in common that you both know about and like. The easiest example is children who are the same age, or having gone to the same college. These are both things you can talk about with a smile, and then move on to business.

Professional people tend to be self-indulgent people. When you walk into their offices, their statues, trophies, and educational achievements are always in plain view. As are pictures of their family. Whenever I go into an office, I take a moment to walk around, not just look around. I look at educational achievements, other awards, and family photos. Sometimes the first question I ask is, "How old are your children?" because oftentimes the photograph will be several years old. Whatever it is that I'm looking at, I try to ask a question that will elicit personal information, personal history, or some type of positive emotional response.

That was Kevin's issue. How's your rapport-building going? Do you understand that rapport is the gateway to an agreement? Do you understand that rapport is NOT small-talk or chit chat? Do you understand that rapport is the insight you gain about the person you're trying to build a relationship with, and give them a little insight about you in return? Do you understand that rapport is NOT qualifying the customer, it's engaging them personally and intellectually? Do you understand that rapport is a time when the customer is qualifying you?

Here is some additional insight into the rapport-building process:

• Rapport is delicate, and must be professionally understood before you can be personally engaging.
• Rapport is exchanging information of personal value.
• Rapport is gaining insight into the person and their personality.
• Rapport is gaining an understanding of the other person.
• Rapport is the ability to begin the engagement process.
• Rapport is a learning time about them, not a bragging time about you.
• Rapport is asking – then creating dialog around the answer.
• Rapport is permission to smile, even laugh, without doing so at someone's expense.
• Rapport is your opportunity to establish yourself as someone they would like to get to know better, and maybe even do business with.

Is there a secret formula for building rapport? No – but the key actions from you are friendly and approachable. The key to success is "ask."

And during the brief time you ask questions and exchange dialog, you may find the LINK. Something you both like and know about. The moment the link is realized, rapport deepens.

Maybe it's a sports team, or a college, or a child. Maybe it's a vacation spot, or a piece of art. Whatever it is, it's personal and business gold. Story exchange, smiles, mutual good feelings, and emotional thoughts and memories.

Once you have built some personal rapport, it's time to segue to business rapport. Start with a career question – maybe something about length of service, the best accomplishment, goals for future success – and then say something about your business career.

When I finally segue to the business at hand I get right to the point. I tell my prospective customer, "The reason I asked for this meeting was to find out…"

NOTE WELL: I DO NOT SAY, "The reason I asked for this meeting was to tell you about…" Subtle, but powerful. Telling is selling. I want my prospective customer to BUY. So do you.

Some people tell me that trying to build rapport is awkward. Awkward is not a problem; it's a symptom. The problem is a total lack of preparation on the part of the salesperson – that would be you.

Maybe if you spent less time boning up on THE economy, and did some personal research on your prospective customer, YOUR economy would be better.

Monday, March 22, 2010

THE WAY YOU DO THE THINGS YOU DO

I’ve seen counter clerks, restaurant servers, and some retail sales people who clearly were not interested in anything other than getting through the job at hand, collecting a check, and going home.

You’ve witnessed service technicians and general laborers who obviously did not care about quality.

We’ve all heard the cold calling sales teams who lifelessly read from a script as quickly as possible to reach their phoning quotas.

For a few dollars, anyone can pick up a book or a CD or attend a workshop and get a roadmap for how to do sales. But what they can’t buy is a proper sales attitude.

The key is to make every move with enthusiasm.

Always remember that it’s not just the things you do, it’s the way you do the things you do that will make you either memorable or forgettable.
"Live as if you were to die tomorrow. Learn as if
you were to live forever."
-- Mahatma Gandhi

Family, Baseball and Marketing:
These Are a Few Of My Favorite Things
By MaryEllen Tribby
Opening day is less than two weeks away. I can't wait!
I have loved baseball since I was a little girl. My dad took me to my very first Yankee game when I was six years old and boy I was hooked!
Over the years I have had my favorite Yankees. Currently Jeter is the man.
Yet of all the years that I have been a fan and of all the line-ups I have witnessed, the mid 70's still stands out as the classic line-up in Yankee history. It included greats like Graig Nettles, Lou Pinella, Thurman Munson, Reggie Jackson and of course my all time favorite New York Yankee . . .
And who would have thought that taking my son to baseball camp would send me soaring back in time three decades...
You see, a couple of years ago I'd just enrolled Connor in the Bucky Dent Baseball School in Delray Beach, Florida. New York Yankee shortstop Bucky Dent was my idol as a young girl. And I have vivid memories of that landmark moment in 1978, when Bucky hit one of the most famous homeruns in baseball history, destroying the dreams of the Boston Red Sox and their chances of going to the World Series. As a huge fan, I remember the exact moment Bucky's bat connected with Mike Torrez's pitch.
Little did I know that I'd be able to meet him 30 years later, and even have the chance to chat with him one-on-one and pick his brain.
But we didn't just talk about baseball. I got his insights into entrepreneurship, customer service, mentors and partners, and goal setting. And I discovered that the core values Bucky used to become one of the most famous baseball players in history are the same core values he has used his entire life to build and maintain a successful business and gratifying life.
His advice is right in line with what I've always recommended. And you can use his experience and suggestions to make your own dreams come true - whether it's to start a business, lose 20 pounds, or become a baseball star.
Entrepreneurship in the Making
One of the biggest takeaways from my conversation with Bucky was how synergistic our philosophies are. Here's one example. Whether I am speaking at a conference or industry event or I am attending one of my kids' sporting events, I inevitably field someone's question about "what kind of business should I start?"
I always tell people they need to start a business that meets two major criteria:
1. You must be passionate about it.
2. You must have experience in that field.
This is something Bucky not only understood 30 years ago but implemented. During our conversation, he shared with me that after his famous homerun many people wanted to go into business with him because he had a "name" that provided instant equity. He told me that the majority of these offers were for the restaurant business. He said, "I did not particularly like the idea of the restaurant business and I knew nothing about that business. What I knew and had so much experience in was baseball, and what I loved was baseball."
It's no wonder, then, that the business Bucky ended up pursuing was running a baseball school.
He told me that when he was a rookie with the White Sox, he was a guest instructor at a baseball school. He said he loved working with the kids. He had to alter his teaching method and vocabulary depending on the age and experience level of each child, because the only thing that mattered to him was that the child had a great week. He wanted to make sure the child walked away with even more passion for the sport and learned something in the process.
I thought to myself, "Here is someone who understands the value of knowing your customer and creating the best customer experience possible.'"
This is one of my core business philosophies, and something I personally witness with Bucky's business. My son attends his baseball school on EVERY school break as well as during the summer. Not only does Connor's skill set continue to improve, his love for the game continues to grow at the same time.
The Importance of Mentors & Partners
One of the most important lessons I've ever learned was that regardless of your professional status and your experience level, EVERYONE needs mentors and partners. Yet I see so many entrepreneurs fight this. They think they can go it alone, and it usually blows up in their face.
This is yet another core business philosophy that I share with Bucky. He told me that his older brother was his greatest mentor. He explained that his brother not only coached him in sports but was also the biggest believer in Bucky's abilities.
Bucky's feelings about the importance of mentors and partners are evident in the way he runs his business. He explained that there are now three partners at the school:
Partner One is the money guy. He handles everything from reconciling the tuition revenue to paying the bills to dealing with taxes. Everything your CFO would do.
Partner Two runs the show behind the scenes. He makes sure the fields are in playing condition, hires the top-notch staff, deals with parent/child issues that arise, and has the marketing team report to him.
Partner Three is the face of the business. (That's Bucky.) He decides on the curriculum. And, of course, he is out there with the other coaches teaching the kids.
The three primary aspects of Bucky's business are managed by three people who are experts in their field - which is something you should apply to your business. If, for example, you are not a marketing genius and do not have the desire to learn how to market well, that is okay. But only if you recognize that marketing is the most important part of your business and you partner with an expert marketer.
Still Setting Goals
Thirty years after becoming famous, Bucky is still setting goals. But the practice of goal setting did not start when he became a professional athlete. It began when Bucky was a child, determining what he wanted from life.
1. Start with the big picture. Bucky shared with me that all his life he wanted to be a professional athlete. He trained physically, making it his primary goal to become healthy and fit. It was not until he was a sophomore in high school that he decided he wanted to be a professional baseball player, at which point the majority of his workouts become baseball-specific.
The same approach applies whether you are starting a business or you want to lose weight.
2. Conquer roadblocks. Bucky believes in the total elimination of mental and physical roadblocks. For years, people told Bucky that he was neither good enough nor big enough to be a professional athlete. Instead of allowing that to alter his goals, he got those people out of his life.
I know that "things" seem to get in the way of accomplishing your goals. Let's say you are determined to get healthy and fit. You tell yourself that you will eat healthy and walk one mile a day. But you have an unfortunate accident and break your leg.
What do you do now? Do you give up and allow this roadblock to prevent you from achieving your goal? The way I see it, you have two choices:
You can put off working toward your health goal for 12 weeks until your leg heals.
You can start eating healthy while doing some simple exercises that do not involve your leg, and you can start keeping a journal of your progress.
But giving in is not an option. It's easy to run into obstacles. But you can almost always find a way around them.
3. One is the loneliest number. Just like Bucky, we realize that there is strength in numbers. Study after study shows that having an "accountability partner" will give you a 65 percent higher success rate. Why? Because you have someone else doing some of the pushing.
You know those days when you do not feel like going to the gym or writing a poem or setting up a Google AdWords campaign? With a partner, you can always get help to move forward. It doesn't matter what your goal is - once you share it with someone, you have a better chance of accomplishing that goal.
It's funny how life works out. If I'd had the opportunity to meet Bucky when I was 15 years old instead of now, the conversation would have been much different, I suspect. I would not have appreciated everything he had to offer. As it turned out, it was like talking to an old friend - not only about baseball, but about business and the importance of excellent customer service and even the role of family values.
If there is a child in your life who loves baseball, check out Bucky's school at buckydentbaseballschool.com.

Thursday, March 18, 2010

"If any man wishes to write in a clear style, let him be first clear in his thoughts."

Goethe

How to Write Well: The Big Idea and Clarity
By Michael Masterson

I spend at least half of my time teaching writers how to write better. I'm speaking of writers who work for the information-publishing companies I consult for and for other publishers who pay me to help them make more money.

Over the 30 odd years I've been doing this, I've developed many complicated theories about good writing. But now I use a brief, straightforward definition. And it applies to every sort of non-fiction writing that I can think of. It applies to writing books, magazine articles, and direct-mail sales letters. It applies to business correspondence, telemarketing scripts, and speeches.

Here it is:

Good writing is good thinking expressed clearly.

That's it.

When I say this to writers, I get incredulous looks. "How could it be that simple?" I can hear them thinking.

And then I explain. And re-explain. And eventually some of them get it. And when they do, their writing gets much, much better. And their income gets better too.

My income is based almost entirely on writing. And knowing this secret about good writing has given me a very rich life. It can do the same for you.

Let's go over that definition in detail. It has two parts:

Good writing is good thinking... expressed clearly.

By good thinking, I mean a "big idea" that makes the reader think, "Boy, that's interesting!" Or, "I never thought of that before!" Or, "I've got to remember this!"

Good thinking has nothing to do with correctness -- neither political correctness nor any other kind. It doesn't matter if the proposition you are making is well reasoned or even factual. What does matter is that your writing engages your readers emotionally, and then motivates them to do or think what you want them to do or think.

I have a friend, a retired copywriter, who disagrees strongly with my view on this. He insists that good writing has more to do with reason than with emotion. It is through reason, he argues, that we persuade.

If you buy his argument, I say "Good luck to you." Most of the "rational" writers I know are writing academic and legal tomes that nobody reads.

Those who make millions from their writing are those who know how to touch their readers on an emotional level. The rational mind is willing to listen to reason only after the emotional mind has said "Okay."

The complete writer, of course, knows how to do both. To discover big ideas that are emotionally compelling is the main thing. Buttressing them with rational proof is important, but it comes second.

If you want to be a well-paid writer (or a successful businessperson), you must be able to come up with good ideas. You must be able to recognize ideas that are emotionally compelling, that arrest and charge up your readers and make them think, "That's good! I never thought of that before."

And then you need to be able to support those ideas rationally by providing proof that they are "true." Truth, of course, comes in many shapes and sizes. And so does proof.

There is factual proof. There is anecdotal proof. And there is social proof.

  • Factual proof is easy to come by if your idea has been well researched. Anyone with an Internet connection can find all the factual proof he needs on most any topic if he knows how to do online research. And if you don't know how to do it, don't worry. American Writers & Artists Inc. (AWAI) is developing a product that will teach you.

  • Anecdotal proof includes stories -- factual and non-factual -- that support an idea by "showing it" instead of "telling it." Anecdotal proof is very powerful, because it appeals so immediately to the emotions. People are not critical when they are reading a story. Their purpose is to be entertained. This gives you, as the writer, a strong advantage.

  • Social proof refers to the influence that other people have on our opinions and behavior. As a writer, a good way to support your ideas with social proof is to use testimonials and expert endorsements.

So that's how you incorporate "good thinking" into your writing. Now let's talk about the second part of my definition of good writing: clarity of expression.

By that I mean the ease with which your readers can "get" your big idea. After all, if you have gone to the trouble of coming up with a really good idea, why would you want to hide it from them with obscure words and references?

The best tool I have found to help writers keep their language clear and uncomplicated is the Flesch-Kincaid Readability Test. The FK (as it is known) looks at the length of your sentences, how many syllables there are in each word, and other data. The result is a score that indicates how easy the text is to read. At ETR, our policy is to keep the FK under 7.5 -- which means the average seventh-grader should be able to read and understand it easily.

Let me give you an example of what I've been talking about here. What follows is a paragraph by a seasoned financial writer. I had asked him for a brief summary of the "big idea" for his next essay. Here's what he sent me:

"Simon Properties is making good on its promise to swallow up the minnows. It's buying mall owner Prime Properties for $2.3 billion and not even using up all the cash it's been hoarding to take advantage of opportunities in the marketplace. Simon is big and flush with cash. And it's doing what big bad companies should be doing... beating up their little brothers, grabbing the best deals out there... getting bigger... and capturing market share from other companies."

I e-mailed back, telling him that I could see, by reading between the lines, that he had a good idea in his mind. But he had failed to identify the core of it. He had failed to turn it into a "big idea" that he could base his essay on. Here's what I said in my e-mail:

"You say that Simon Properties is a good buy because it is buying up smaller, cash-starved businesses. This is a sound proposition, but it's not a compelling idea. It's really just an assertion. To make it emotionally compelling, you have to make it both more universal and more unique. You have to find the idea behind your idea.

"In short, you have to find something that would make your reader sit up and take notice. You have to give him an idea -- preferably in a single phrase -- that he could repeat that night at a dinner party, something that would launch an interesting discussion.

"For example, you might have said, 'There are companies -- I call them bully companies -- that outperform the market by three to one.'

"That is an engaging idea. The reader gets it immediately. He wants to know more.

"But to make this work, you would need to prove to your reader that, in today's market, bullies are good investments. Only after you have done that will he be interested in your assertion about Simon Properties."

When, having asked for an idea, a writer sends me a paragraph rather than a sentence, I know -- without even reading it -- that he hasn't identified a truly compelling idea. And if that paragraph contains long, complex sentences, then I know he's off base.

By the way, there is a new science called Cognitive Fluency. Among other things, it studies the effect of simple language on readers. What researchers have found is that a simpler statement has more credibility than a more complex one -- even if they both mean the same thing. It appears, the scientists say, that our brains are hardwired to trust simpler (and familiar) things.

Since recognizing the two key components of good writing -- a "big idea" and clarity of expression -- I've insisted that all essays or promotions given to me for review have at the top of the page a one-sentence explanation of the main idea and the FK score.

If that one-sentence idea doesn't impress me, I send the piece back without reading it.

IF the FK score is above 7.5, it gets rejected too.

This discipline has saved me lots of time and has accelerated the learning curve of every writer who has worked under my direction. I recommend it to you.

Wednesday, March 17, 2010

Achieving Sales Leadership
By 1st Lieutenant Eddy Mayen

Are you a leader, a follower, or both? When you hear the word "leader", what one image or thought comes to your mind? Whether it is the military or sales, the word leadership usually produces an image of an individual standing in front of a group of people giving instructions or direction.

However, when I ask a sales team if they consider themselves to be leaders or followers - 99% of them consider themselves a leader and only 1% would call themselves a follower.

I am sure this does not come as a surprise, but what might surprise you is this: The answers above are only half right.The 1% that answer " followers" is usually a prior member of some branch of the US Armed Forces.

The United States Armed Forces produces leaders every day! So, how is it that soldiers answer "followers" when asked the question? Their answer comes from their training. Every soldier is taught that:

1. To be a leader, you must first learn to be a follower
2. To be a good leader, you must first learn to be a great follower
3. To be a great leader, you must first learn to be a superior follower

You see, I believe that people do not want to be followers, but they want to be led. To be a follower one must be humble, patient, disciplined, persistent, and confident. Ironically, these are the very same qualities we seek and expect to find in our leaders. And it sounds a little like the chicken or the egg theory.

Understand that when I talk about Achieving Sales Leadership, I am not talking about your ability to recruit, train, and motivate your own sales force. I am simply talking about your ability to lead the most important person in the world… YOU! In order to be a leader of ‘you’ you must first become a follower of ‘you’. Simply put, can you follow your own lead?

Your answer is critical, because in sales YOU is the most important word. The sale begins and ends with YOU.

While you are at it, let me share with you Jeffrey Gitomer’s YOU assessment from The Little Red Book of Selling:

Rate yourself in each category from One (poor) to Ten (the greatest) and see how great you are.

1. Your Image - How do you look?
2. Your ability to speak - can you convey your message?
3. Your ability to establish rapport - can you make your prospect feel at ease?
4. Your attitude - not what you say, but how you say it will make the sale.
5. Your product knowledge - Do you know it cold?
6. Your desire to help - are you willing to help others?
7. Your preparedness - do you prepare for every call?
8. Your humor - laughter will break through the thickest of ice shields.
9. Your creativity - what separates you from your competition?
10. Your sincerity - Shows through either way.
11. Your reputation - what do others say about you?
12. Your glue - how strong is your bond that holds the first 11 together?

How did you score? A perfect score is 120.

110-120 - You are a great you!
99-109 - Pretty darn good you
70-98 - You’re not as hot as you think
50-69 - You are mediocre at sales
49 and below - Walk, run or drive to the nearest store and buy a stronger deodorant because your friends are afraid to tell you that you stink!

Achieving Sales Leadership is not about putting up the numbers, winning all the contests or making all the money. Achieving Sales Leadership is about your personal journey in achieving 120 on the above assessment. Let me assure you that the closer you get to scoring 120 the more sales you will make, the more contests you will win and the more money you will make.

Now, let me re-phrase my question: Are you a leader, a follower, or both?

"Don't be a cynic and disconsolate preacher. Don't bewail and moan. Omit the negative propositions. Challenge us with incessant affirmatives. Don't waste yourself in rejection, or bark against the bad, but chant the beauty of the good."

Ralph Waldo Emerson

Meet Sad Sack
By Clayton Makepeace

The other day, a guy -- a real sad sack -- left a post on my blog. Said he's been a copywriter for decades but has not been very successful at it.

It's not his fault, of course. It's the world's fault. More specifically, it's the direct-response marketing world's fault. And to get even more specific, it's ultimately the fault of our prospective customers.

See, our Sad Sack realizes that prospects will not respond to a depressed, negative, cynical salesperson. After all -- if you're interested in buying, say, a new sports car, the last thing you want to do is consider all the possible negatives of owning one.

We want the salespeople we deal with to be upbeat -- excited, even -- about the products we're contemplating buying. And since copywriters are salespeople in print, that means he'd have to become (horror of horrors!) enthusiastic about the products he's selling.

But enthusiastic sales copy -- which our Sad Sack refers to as "hype" -- is beneath him. He wouldn't dream of lowering himself.

Frankly, there are so many things wrong with his post on my blog, I couldn't begin to address them all...

For one thing, our Sad Sack -- our holier-than-thou cynic -- obviously has no idea what the word "hype" really means.

"Hype" is short for "hyperbole" -- which the Encyclopedia Britannica defines as "... a figure of speech that is an intentional exaggeration for emphasis or comic effect."

Wikipedia says that hype is "... a figure of speech in which statements are exaggerated... and is not meant to be taken literally. Some examples include: 'He has a brain the size of a pea'... 'I'm so hungry I could eat a horse'... 'If I've told you once, I've told you a million times.'"

By eschewing the use of hype in his sales copy, is he telling me that he is opposed to saying, for example, "I could eat a horse" unless he had substantiation proving beyond a doubt that he does, in fact, have the digestive capacity to process 1,200 pounds of horseflesh at one sitting?

Of course, not. That's not what S.S. is saying. He's saying that being enthusiastic about the benefits a product brings to people's lives -- writing high-energy sales copy about those benefits -- is somehow immoral.

Because he didn't just fall off the turnip truck. He knows all too well that there are plenty of negatives associated with every product you can name.

And you know what? He is 100 percent correct.

  • Big Macs tastes great -- but they'll make you fat and raise your blood pressure. And if you eat them every day, they will probably wind up killing you with a heart attack or stroke.

  • A Porsche 911 is a blast to drive -- but it doesn't get great gas mileage, virtually guarantees you'll get speeding tickets, and could ultimately kill you in a fiery crash.

  • Even puppies have a downside. Sure, they're cute, funny, and adorable. But they will chew your slippers, poop on the carpet, barf on the couch, and hump your Aunt Tilly's leg.

And, yes, McDonald's, Porsche, and the dog pound are all notorious for their failure to mention the downside in their advertising. They spend their ad budgets emphasizing every benefit and suppressing every drawback.

Which, to our moralistic Sad Sack, is unacceptable... completely beneath a person with his lofty ideals.

Obituary Writer Needed

"And so," said Sad Sack, "I guess I'll just have to accept the fact that I'm not going to be very successful."

To which, I was tempted to respond...

"No, you're not going to be a success. At least not in the sales biz.

"If you, in your heart of hearts, hate being advertised to... if you incessantly bitch about the amount of junk mail you receive... if you hate spending your money on anything but the bare necessities... and if you assume that everyone with a product or service to sell is a scam artist...

"There is an excellent chance that you have chosen to pursue the wrong career.

"Don't get me wrong. You can still make a decent living as a writer. But please -- for Buddha's sake -- get out of the marketing game now. There are plenty of writing jobs for negative, cynical people.

"You may wind up writing obituaries for the rest of your life -- but, hey, at least you won't starve!"

Free Your Mind and Your Arse Will Follow

In retrospect, I shouldn't have ignored Sad Sack's post. Because he makes a point that simply isn't being made enough by copywriting coaches today.

See, those of us who have made it in this business tend to be very positive people. We're optimists. We believe that the products we promote really do bring value to our prospects' lives. That makes us happy -- enthusiastic, even -- when describing that value.

On balance, though, we also understand that in today's increasingly skeptical world, optimism and enthusiasm must have a foundation. Our sales copy must be credible -- and, therefore, based on real, provable, easily demonstrable facts.

So while it's true that just about anyone can learn the rules for creating fair-to-middlin' sales copy, not everybody has the proper belief system, mindset, or temperament to be a successful salesperson in print.

But couldn't the same be said for pretty much every field of human endeavor?

The simple truth is...

If you think you're a victim, you will always be a victim.

If you search for reasons to be depressed or to quit trying, you will find them.

If you justify your failure by blaming it on others, you will find plenty of people willing to exploit you by

ustifying your depression... confirming your victimhood... and commending you for your failure to give it your all.

A couple of years ago, a woman told me she could never make it in this biz because she was a female.

Years earlier, a guy told me he'd never make it because he was black.

Guess what? Neither one of them made it.

Meanwhile, my friend Carline Anglade-Cole -- an African-American female copywriter -- is driving a Mercedes, living in a 6,500-square-foot mansion, and making $800K a year.

Tuesday, March 16, 2010

"Hell, there are no rules here; we are trying to accomplish something."

Thomas Edison

Break the Rules, Grow Your Business?
By Roy Furr

Could it be that what's stopping you from making your next big business breakthrough is that you haven't broken the right rule?

Most successful entrepreneurs I know are perpetual rule breakers. In fact, I find it hard to come up with even one who's played by others' rules and still managed to come out on top.

An acquaintance of mine in the music biz is a good example.

Stuart Davis is a quirky, talented musician who has developed a strong following with his blend of "Sex, God, and Rock 'n' Roll." It's an ear-catching mix, to be sure. But what I guarantee will be far more interesting to you is how he's breaking the rules.

Stuart has been remarkably successful in the music business for over a decade, with no major label, no distribution, and no radio play. He's done it by selling his music his way -- including self-publishing his albums.

That created a bit of a problem, though. It's expensive to produce albums.

Well, Stuart had a brilliant idea. He has a rabid, devoted fan base. So he decided to give them a chance to be his record label.

Here's how Stuart's fans-as-record-label system works:

  • The budget for a new album is $100,000.

  • 100 percent of album revenue rights are made available to fans. Fans can participate with micro-loans in $1,000 increments. Each $1,000 gives a fan/partner 1 percent of revenue rights.

  • When the album is released, 100 percent of revenue goes to fan/partners until they double their money. After they double their money, profits are split 50/50 between Stuart and the fan/partners according to their percentage.

  • Stuart retains all copyrights and creative control. (Fan/partners acquire the rights to profits, not to the music.)

As you can see, Stuart has completely rewritten the rules for funding the cost of producing an album. By structuring non-conventional loans from his fans, he gives them the opportunity to share the risks and rewards of the music business. And because he already has 15 successful albums under his belt, it's not hard for his fans to make the decision to invest in the next one.

How can you take advantage of the "rule-breaking" approach in your business? To give you some ideas, let's take a look at a few ways it has been successfully done.

1. Break the rules by adding VIP services.

Amazon.com started making waves in the online retail world a couple of years back with its Amazon Prime Membership service -- which gives customers unlimited 2-day shipping for a flat annual fee. This rule-breaking VIP service has no doubt been part of Amazon's rapid growth. I know my Prime Membership keeps me going back to Amazon over and over again.

Is there some way that you could offer a VIP service to your customers? Would they pay a premium for special treatment? Faster shipping? Exclusive offers? First access to new programs or merchandise?

2. Break the rules by using new technologies.

The "rule" that most traditional publishers follow is to sell their programs as complete packages and deliver them via the mail. It was always the most cost effective way to get the material to customers. But then the Internet -- and digital delivery -- came along.

One publisher I worked with took advantage of this new technology immediately and gave customers the option of getting the material via e-mail, as a monthly subscription service. Subscribers also had online access to their entire catalog, including all new releases and updates. The result? The subscription service now brings in 50 percent of their profits, giving them a steady stream of guaranteed revenue every month in the hundreds of thousands of dollars. And because subscribers have such easy access to their online catalog, but sales of additional products have doubled.

How can you use the Internet to give your customers more ways to spend money with you? What rules can you break in product delivery to change the way customers consume your products?

3. Break the rules by making your biz a big-time supporter of a cause.

Many businesses donate big chunks of money to charities in order to get a tax write-off. But it doesn't have to cost you a penny to support a worthwhile cause -- and get lots of attention and respect in the process.

Teleseminar guru Alex Mandossian, for example, is the single biggest fundraiser for Kiva.org. (Kiva provides microfinance loans to entrepreneurs in developing countries.) He does it through regular fundraising teleseminars that inspire many of his customers to donate. Each one may donate only a small amount, but it adds up to a significant sum. Alex also runs an annual event where all profits are automatically passed through to Kiva.

Do you have a favorite cause that you could support through your business? Could you offer services to them for free? Sponsor special events and donate all the profits? How can use get your customers enthusiastically involved in supporting the cause with you?

Now, to help you come up with your first rule-breaking business breakthrough, I'm going to give you a quick exercise. The whole thing should take about 15 minutes...

In general there are five rules that can be broken in any industry:

  • How you source your products or services
  • How you market and sell your products or services
  • How you take payments
  • How your business is financed
  • How you communicate with your customers

So grab five sheets of paper. At the top of each, write one of the five rules listed above. Draw a line down the center of each sheet. On the left, write "How we do it." On the right, write "Other ways to do it."

Under "How we do it," quickly jot down the rules you currently follow. On the "How you take payments" sheet, for example, you might write, "All orders paid in advance."

Then give yourself one or two minutes per sheet to come up with ways to break the rules. On the "How you take payments" sheet, you might write "Bill in 30 days," "Offer $1 trial," and "Offer installments" under "Other ways to do it."

Many of the ideas you come up with won't be worth implementing. But all it takes is one good one to generate a profit and growth breakthrough that will astound you.

Thursday, March 11, 2010

In Which I Try To Use All Of WGN's Newly Banned Words In One Sentence

By Ian Chillag

Tribune Company CEO Randy Michaels has banned 119 "newsspeak" words and phrases from ever crossing the lips of anchors and reporters at WGN-AM. There's a list here, but if you'd like them in a sentence, how about this:

In other news, stay tuned, because in our top story tonight, some really good (or bad) news: as expected, in a surprise move yesterday, informed sources say, a world class icon, diva, mother of all motorists, and famed undocumented alien, lauded for putting area residents at risk and in harm's way, but at this point in time behind bars for allegations that -- according to sketchy details that, to be fair, have officials and authorities under fire for speaking out -- he reportedly engaged in shower activity with all of you folks at 5 am in the morning, underwent surgery, utilized an undisclosed vehicle in torrential rain in a near miss manhunt when it was time for a break, literally fled on foot, completely surprised his mother with a clash with bare naked police behind closed doors, definitely possibly completely destroyed a medical hospital under false pretenses, and is lucky to be alive after, the fact of the matter is, he lent a helping hand to a legendary incarcerated pedestrian lone gunman (the perpetrator who over in a neighboring state, perished in a perfect storm of no brainers and things that went terribly wrong, and was plagued by killing sprees in which he gave 110% only to have his senseless murders marred by the untimely deaths of guys and folks whose fatal deaths came in the wake of auto accidents, and while it may be a mute point, let's everybody touch base on the fact that he was under seige in the wake of unrest after shots rang out in close proximity of the best kept secret on the campaign trail which had authorities reeling up in one place and down in another, and going forward, the alleged aftermath of the death toll for youths behind the podium exceeds those out there, down there, and out in that other place by a two to one margin), is seeking white stuff for those of you that want it, and thus, we'll explain what he did when we'll be back -- we'll be right back, after the break and after these commercial messages, and we say "we're back," "welcome back," or "welcome back everybody."

I think that's all of them. Honestly my mind is now too numb to go back and check.