Wednesday, November 18, 2009

The Power of Priorities

Thinking Ahead and Prioritising


There are two things that business people find very challenging: thinking ahead and doing things in order of importance.

Doing these two things makes the difference between success in business and just surviving. And the same is true for all areas of our lives.

Leadership trainer and author, John Maxwell says, “thinking ahead and prioritising responsibilities marks between a leader and a follower”.

Most people have heard of the Pareto Principle, more commonly known as the 80/20 Principle. Roughly stated this says that in most businesses 80% of your business comes from 20% of your customers.

Other examples of the Pareto Principle are:

Reading – 20% of the book contains 80% of the content

Job – 20% of your work gives us 80% of our satisfaction

Products – 20% of the products bring in 80% of the profits

Picnic – 20% of the people will eat 80% of the food

So… when it comes to your priorities, 20% of your priorities will give you 80% of your production IF you spend your time, energy, money and personnel on the top 20% of your priorities.

When you do this, you are getting a 400% or fourfold return in productivity. Think what this would mean to your business!

Every person needs to understand the Pareto Principle as it applies to the areas of customers, team and leadership.

In the area of customers, it is vital to identify the 20% who account for 80% of your business. These are your “raving fans” and strategies must be put in place to care for them appropriately.

For your team, you must identify the top 20% producers. Spend 80% of your time with these people to develop them to their full potential.

In Leadership, take an honest look at the questions, “What do I have to do that no-one else can do?” Remember a leader can give up everything except final responsibility.

You can decide whether you will be reactive or proactive when it comes to the use of your time. The question is not “Will I be busy?” but “How will I invest my time?” It’s not “Will my calendar be full ?” but “Who will fill my calendar?” It’s not will I see people?” but “Who will I see?”

Do this and watch your productivity and personal satisfaction rise to new heights!

Perception



One day a gentleman was passing a construction site. He stopped
and asked one of the tradesmen what he was doing.

The worker, shoulders hunched over the wall
replied gruffly, "I'm laying bricks, can't you see that?"

The man watched a while longer and then asked another worker what he
was doing. The worker turned to him and with eyes downcast, he muttered "I'm just tryin’ to make a livin’, that okay?"

The Gentleman looked over and saw a third man whistling as he worked, his back was straight and movements swift …

The Gentleman approached, asking for the third time

what the worker was doing, but this time the response was

a little different,

Looking up, with eyes alight – the worker looked at the gentleman and smiled…

"I'm building a cathedral!"

anonymous

It's not what you look at that matters, it's what you see. - David Henry Thoreau



The voyage of discovery is not in seeking new landscapes but in having new eyes. - Marcel Proust.

We don't see things as they are, we see things as we are. - Anais Nin.

You can complain because roses have thorns, or you can rejoice because thorns have roses. - Ziggy.

It's So Simple!


IT’S SO SIMPLE!


The most destructive habit…Worry

The greatest joy…Giving

The greatest loss…Loss of self-respect

The most satisfying work…Helping Others

The most endangered species…Dedicated Leaders

Our greatest natural resource…Our Youth

The greatest “shot in the arm”…Encouragement

The greatest problem to overcome...Fear

The most effective sleeping pill…Peace of Mind

The most crippling failure disease…Excuses

The most powerful force in life...Love

The most dangerous pariah…A gossiper

The world’s most incredible computer...The Brain

The worst thing to be without…Hope

The deadliest weapon…The Tongue

The two most power-filled words…”I Can”

The greatest asset…Faith

The most worthless emotion…Self-Pity

The most beautiful attire…A SMILE!

The most prized possession…Integrity

The most contagious spirit…Enthusiasm



Quote: People are always blaming their circumstances for what they are. There is no such thing as circumstance. The people who get on in this world are the people who get up and look for the circumstances they want, and, if they can’t find them, make them.

Leadership Lesson: Empowerment

Power from Empowerment by Dr. Denis Waitley

A good way to think of leadership is the process of freeing your team members to do the best work they possibly can. I have followed NBA basketball coach Phil Jackson’s career for some time.

In his career, Jackson has gone from coaching the record-setting champion Chicago Bulls to the present NBA champion Los Angeles Lakers. He says his principal task is creating an environment in which his players can flourish. In communicating with his championship teams, Jackson convinced them that they had the talent to win championships and that the main goal of the coach was freeing them to use that talent.

Today’s business team members say they want, more than anything else, the autonomy to do their jobs without the boss’s interference. Nearly a decade into the new century, it’s already clear that the CEOs of our best-run companies believe that the more power leaders have, the less they should use.

The job of the team leader is to set a mission, decide upon a strategic direction, achieve the necessary cooperation, delegate authority and then let people innovate. To do that we all could take a hint from the late football coach Paul “Bear” Bryant. Before his retirement as one of the leading coaches in college football history at Alabama, Bryant observed:

I’m just a plowhand from Arkansas, but I’ve learned how to put and hold a team together. I’ve learned how to lift some individuals up and how to calm others down, until finally they’ve got one heartbeat, together, as a team. To do that, there are just three things I’d ever have to say: If anything went wrong, I did it. If it went semi-good, then we did it. If anything went real good, then you did it! That’s really all it takes to get other people to win for you.

The key to authentic leadership is to listen to your followers, and then open the door for them to lead themselves. The secret is empowerment. The main incentive is genuine caring and recognition.

The five most important words a leader can speak are: “I am proud of you.”
The four most important are: “What is your opinion?”
The three most important are: “If you please.”
The two most important are: “Thank you.”
And the most important single word of all is: “You!”

Sunday, November 15, 2009

Book Summary: Zig Ziglar Secrets Of Closing The Sale

Book: Zig Ziglar’s Secrets of Closing the Sale (1984)

Author: Zig Ziglar


10 Key Concepts:

1. By asking questions, there is no way you can get unhappy with me about the answers you give to those questions

2. There are five basic reasons people will not buy from you. These are: no need, no money, no hurry, no desire, and no trust.

3. People buy what they want when they want it more than they want the money it costs.

4. You can get everything in life you want if you will just help enough other people get what they want.

5. You must believe in what you are doing, that you are interested in serving your client and that you do feel you are offering the best product or service at the best price which will do the most for your client and their needs.

6. The prospect is persuaded more by the depth of your conviction than he is by the height of your logic.

7. I am glad you are concerned about the price….because that’s one of our most attractive advantages. Would you agree that, as a practical matter, a product is worth what it can do for you and not what you have to pay for it? Our company has the choice between providing coaching as cheaply as possible and selling it as a get by service, or providing coaching that teaches you how to create long-lasting results, profits and growth.

8. Selling is essentially a transference of feeling….believers are closers…c stands for conviction.

9. A calm, confident, positive, reassuring salesperson working from a base of honesty and integrity is the most effective tool to calm the fear of the prospect and get the sale.

10. Take the reason why he could not buy and use it as the reason why he must buy.

11. Move to the prospect’s side of the table, identify the problem, get involved in the solution, and your closing percentage will increase.

12. Your business is never really good or bad out there. Your business is either good or bad right between your own two ears.

13. Improve your self-image and you will improve your sales performance.

14. The high performer is sensitive to the value of the customer’s time and is able to spend more quality time in front of the customer because he spends more quality time planning strategy and preparing for the call.

15. The high performer is able and willing to explain service drawbacks, builds relationships and provides a valuable service.

16. Professionals are counselors who identify the prospect’s needs and then fill those needs through his services.

17. Since your integrity is the most important factor in building customer loyalty and career stability, the practicality of a totally honest relationship becomes even more obvious.

18. Have a booster week….a total-effort week during which you give your maximum effort from early in the morning until late at night.

19. Positive mental preparation in advance will help absorb the impact of dealing with negative experiences.

20. You build your mental reserve by reading the good books, by listening to motivational and sales training recordings and attending professional training sessions.

21. Build your reserves, get your thinking right, get your spiritual values in order, get your body in good physical condition, and you will have the key steps toward building an exciting and successful career.

22. People believe more of what they see than what they hear. – use testimonials

23. Logic makes people think, but it is emotion that makes then act.

24. Use emotion and logic in a presentation, chances are excellent you will end up with a sale and a happy customer for the future

25. High performers – involve others by soliciting opinions, sharing information and establishing trust relationships inside the organization…they are total, well-balanced people with integrity who are knowledgeable and aggressively caring in their creative approach to solving problems….He is so other-people conscious he never lets his ego hinder his efforts…is inspirational and motivational….he believe in his ability to make the sale on a specific call…the professional is the one who has an assured competence in a particular field or occupation. It is a quality performance….school is never out for him….he studies his prospects…

26. He know his prospects will make their decision based on what they understand and believe so he undersells, keeps it simple and makes it believable

27. He is a thinker, but he clearly understands it is better to emulate genius than to create mediocrity, so he evaluates materials and procedures on the basis of results. Tests and measures.

28. The professional possesses conviction, concern, confidence, and courage. His confidence is strong that he can persuade the prospect to take action, and his courage enables him to ask the prospect to take action now for his own best interests.

29. In the final analysis he understands that his career will depend on what he does with what he knows, not just on what he knows.

30. Drop a note to all prospects and clients at least once a month

31. The professional is skilled at communicating and reading the prospect’s communications back to him.

32. When you are talking with a prospect, please remember that in most cases he’s delighted to give you pertinent information if you will just ask for it!

33. Always think as a seller and a buyer

34. If there are any objections, it is infinitely better to bring them out early so you can deal with them as part of the presentation rather than at the end of the interview.

35. Don’t argue, get defensive, or try to justify the price. Quietly and with an almost casual confidence put the ball back in their court. I.e. Is it too much? What do you think would be a fair difference to give in exchange for increasing your profits?

36. The best way to get a prospect to make a favorable new decision is to make him happy with an old decision.

37. Break down costs and frame with similar costs per month or values

38. You make the sale when the prospect understands that it will cost more to do nothing about the problem than to do something about it.

39. Do you carry the marble? D you carry the baseball? Or do you carry the beach ball?

40. Words that sell: your clients name, understand, proven, health, easy, guarantee, money, safety, save, new, love, discovery, right, results, truth, comfort, proud, profit, deserve, happy, trust, value, fun, vital, security, your, advantage, positive, and benefits.

41. Words that unsell: deal, cost, pay, contract, sign, try, worry, loss, lose, hurt, buy, death, bad, sell, sold, price, decision, hard, difficult, obligation, liable, fail, liability, failure.

42. Never…use you know…. Or

43. Paint word pictures. Must be in color and in the present tense…paint beauty, luxury, love, satisfaction, enjoyment, success, performance, or the features…something they can feel and see. Emotional pictures of delayed benefits must be embedded in their minds. Should contain six questions.

44. You are not selling what it is…you sell what it does.

45. Thanks after the sale cards

46. Cost objection – Cost too much. I am inclined to agree with that….name….because good things are not cheap and cheap things are not good….

47. Objections thrive on opposition but basically die with agreements.

48. Clients want to be right and they want to be understood…they do not want to make a mistake. Treat an objection as a question and get the client involved in the sales process.

49. Obviously…name….you have some good reason for saying that ….or feeling that way…Do you mind if I ask what it is?

50. Do you like it? Do you want it? Can you afford it? When do you want to start?

51. In order to make an intelligent decision you must have: good access to the information, expertise in order for you to evaluate and perhaps a personal acquaintance with the management.

52. Because your company has its own strong points, I urge you to learn what yours are and handle them according.

53. I wish everyone I deal with was a concise with their questions as your are, because if a person knows their own feelings, it makes it easier and more fun to demonstrate our services. I know that you are going to love this.

54. Name…it is obvious you feel quite strongly about his issue so you must have an excellent reason fro feeling as you do. Would you mind sharing with e why you feel they way?

55. First a prospect needs the reassurance that it is al right to take this step and that the price is fair, second that the price is worth what he is getting, third their sense of fairness is involved – believe you and fourth he is buying not just for himself but for others as well.

56. Give a prospect a reason for buying and an excuse to buy….you need to improve your profits and your family will be proud of you

57. How do you persuade people to take action…you persuade by asking questions which lead the prospect to a conclusion which demands that he take action because it becomes and idea which he originated….If you make a statement to which your prospect will readily agree (cannot refute), then ask a series of questions based on that agreement, and ask a concluding question based on those agreements. You will force the desired response.

58. If I show you something that could save you or your firm a great deal of money, are you in a position to act on it now? How do you feel about this?

59. There is no doubt that your career as a sales person will move forward faster as a direct result of leaning how to ask questions and how to use the proper voice inflection that from any other skills you might develop.

60. In order for me to determine how we might be able to help you, I need to ask you a few questions

61. It is better to use one effective procedure or close if that’s all you know than it is to know all the techniques in this book and not use any of them.

62. The disclosure close – write up the order as you ask questions.

63. The Ben Franklin close – reason for and ideas opposed….write up all the reasons for first…say one, two etc. but don’t write them…..then be sure to put down their strongest objection first which of these weigh heaviest?

64. Start your presentation with the strongest benefit and end with the second strongest benefit

65. Hat in Hand close - I am embarrassed to ask you this, but it would mean a lot to my career if you would help me by answering a question. Obviously, you have not done any business with us today and that’s alright. I certainly don’t work with everybody. I had hoped you would engage our services because I thought our service fit your needs. However, you have chosen not to and I feel badly about it because I did not explain it thoroughly enough to make the benefits more obvious. It would really be helpful to me, as I call on other people, if you would identify the mistakes I made.

66. Remember when a person brings up a logical objection you answer it emotionally, and when he brings up an emotional objection you answer it logically

67. Keys to success….1) Positive Projection 2) the assumptive attitude 3) Physical action 4) Enthusiasm 5) The subordinate question …Can you see where this will make you a profit? Are you interested in making more money? If you were ever going to start making more money when do you think would be the best time to start?....Ask then the specific questions they use – arouse interest, sell benefits, get appointments, secure prospects, close the sale, tie the order down and convey conviction. 6) Listen 7) The impending event…higher prices…competition….8) Persistence 9) Inducement 10) Sincerity 11) The narrative event…short stories that paint pictures of companies where their problems are solved by using your services.

68. Never lose sight of your objective…to make the sale… and when the prospect changes the subject to acknowledge the change, comment briefly and tie it to the diversion.

5 Statistics / Quotes / Comments

1. If there were a way I could show you that the price is more than fair and the product is worth ever dime were asking, would you go ahead and take advantage of our offer today?

2. We decided that it would be easier to explain price one time than it would be to apologize for quality for ever….An I’ll bet you are glad we made that decision, aren’t you.

3. It is safe to say that you are what you are and we where you are because of what has gone into your mind. You change what you are and where you are by changing what goes into your mind.

4. You don’t build a business, you build people and then people build the business.

5. If your thinking is good…your business will be good

6. P. 299 – What is your experience?

7. Carnegie …Show me a man who can make a decision, act on that decision, and stay with that decision, and I’ll show you a man who will succeed.

Book Summay: Rich Dad Poor Dad

Book: Rich Dad Poor Dad (1997)

Author: Robert T. Kiyosaki



10 Key Concepts:

1) The Rich don’t work for money. A job is really a short-term solution to a long-term problem. Learn to use your emotions to think, not think with your emotions. Let go of the idea of working for money and instead learn to have money work for you. Keep using your brain, work for free, and soon your mind will show you ways of making money far beyond. You will see things that other people never see. Story of the comic-book library

2) If you want to be rich, you need to be financially literate. Rule 1 – You must know the difference between an asset and a liability, and buy assets. It is the only rule. An asset is something that puts money in my pocket. A liability is something that takes money out of my pocket. The real cause of financial problems is how people choose to spend the money they do have. The greatest losses of all are from missed opportunities. If a couple put more money into their asset column early on, their later years would get easier. Dedicate your life to investing more and minimizing liabilities. Concentrate on only buying income generating assets. Focus on keeping liabilities and expenses down. Wealth is the measure of the cash flow from the asset column compared with the expense column.

3) What business are you in? Mind you own business. Your business revolves around your asset column, as opposed to your income column. Start buying real assets. Assets suggested for your children – businesses that do not require their presence, stocks, bonds, mutual funds, income-generating real estate, royalties from intellectual property such as music, patents, print.

4) My real estate strategy is to start small and keep trading the properties up for bigger properties and therefore, delaying paying taxes on the gain. This allows the value to increase dramatically. Rich people buy luxuries last, while the poor and middle class ten to buy luxuries first. A true luxury is a reward for investing in and developing a real asset.

5) The rich do not play by the same set of rules; they created the corporation as a vehicle to limit their risk to the assets of each voyage. A corporation protects the rich. The income-tax rate of the corporation is less than the individuals; certain expenses could be paid with pre-tax dollars within the corporation. As long as you keep trading up in value, you take advantage of these tax savings offered legally.

6) Financial IQ – synergy of these four areas of expertise –

1) Accounting – financial literacy – the ability to read and understand financial statements. The ability to read numbers

2) Investing – science of money making money.

3) Understanding Markets – the science of supply and demand.

4) The Law – knowledge of tax advantages and protection provided by a corporation. The awareness of accounting, corporate, state and national rules and regulations. Tax advantages – pay for expenses before it pays taxes – a corporation earns, spends everything it can, and is taxed on anything that is left. Vacations are board meetings in Hawaii, Car payments, insurance, repairs are company expenses. Health club membership is a company expense. Most restaurant meals are partial expenses. Corporations are protection from lawsuits.

7) Money is not real. The more real you think money is, the harder you will work for it. If you can grasp the idea that money is not real, you will grow rich faster. The rich make money. Money is what we all agree it is. Shop for houses at the bankruptcy attorney’s offices or the courthouse steps. Purchase for low and sell.

8) Two main vehicles to achieve financial growth: real estate and small stocks. If the opportunity is too complex and I do not understand the investment, I don’t do it.

9) Have fun, learn from your mistakes, winners are not afraid of losing.

10) Learn and study international trade

11) Learn more than earn. The most important specialized skills are sales and understanding marketing.

12) Overcoming Obstacles – fear (of losing money) failure inspires winners and defeats losers, cynicism (winners analyze and see what critics are blind to), laziness (ask - How can I afford it?), bad habits (our lives are a reflection of our habits more than our education – pay yourself first), arrogance (is ego plus ignorance – start educating yourself)

13) Getting Started

a) I need a reason greater than reality – power of spirit.

b) I choose daily –the power of choice

c) Choose friends carefully – the power of association – The reason I want to have rich friends who are close to the inside is because that is where the money is made.

d) Master a formula and then learn a new one – You become what you study.

e) Pay yourself first – people who have low self-esteem and low tolerance for financial pressure can never, and I mean never, be rich. Each month allocate money to your asset column before they pay their monthly expenses. Have the guts to go against the tide and get rich.

f) Pay your brokers well – paying professionals well for their services should make you money. Information is priceless. Your broker should take the time to educate you

g) Assets buy luxuries – the power of focus

h) The need for heroes – the power of myth. Who are your heroes?

i) Teach and you shall receive – the power of giving. I want money, so I give money. I want sales, so I help someone else sell something, and sales come to me. I want contacts and I help someone else get contact, and like magic, contact come to me. First give what you want and it will come back in droves. Often just the process of thinking of what I want, and how I could give what I want to someone else, breaks free a torrent of bounty. Teach and you shall receive. If you want to learn about money, teach it to someone else.

j) To Do’s – stop doing what you are doing, look for new ideas, take action

Invest in your mind and learn how to acquire assets and you will be choosing wealth as your goal and your future.

5 Statistics/ Quotes/ Comments:

1) The word emotion stands for energy in motion. P. 44

2) Once a person stops searching for information and knowledge of one’s self, ignorance sets in. p. 47

3) Intelligence solves problems and produces money. P. 56

4) An intelligent person hires people who are more intelligent than they are. P. 71

5) I strongly urge students to learn to take risks, to be bold, to let their genius convert that fear into power and brilliance. P. 110

6) Great opportunities are not seen with your eyes. They are seen with your mind. P. 125

7) There is always risk so learn how to manage risk instead of avoiding it. P. 127