GO GET IT!

WARNING: The following advice is not for the weak hearted!
If there is something you truly want, but do not think you can afford it, figure out how to get it and then figure out how to pay for it. ”
“Fiscally minded” and “fiscally responsible” people will shudder at this advice, and I understand that, but its the way I have lived my life. As a result I have had more than a few sleepless nights and many stressful days living “over my head.” But today I am sleeping like a baby.

The Good Life

I have enjoyed driving cars that I couldn’t afford, living in houses I couldn’t afford to buy, going to exotic resorts I couldn’t afford to go to, building businesses I didn’t know how to build, written books I wasn’t qualified to write, and doing things I was was told I couldn’t do.

“There is nothing capricious in nature, and the implanting of a desire indicates that its gratification is within the creature that feels it.”
-Napoleon Hill

Simply put, “You wouldn’t want it if you were incapable of having it.”
This has worked for me… Just saying…

When the Fun Stops
Too many times I see proven, experienced salespeople “lose it” for one reason or another. They drift into bad habits, adopt shortcuts and or bad attitudes. Once that happens they are better off moving along to someplace new. As much as we hate to have people quit and leave, it’s worse when they quit and stay.

Shiny
Just as often I see a “newbie” come on board and outsell the knowledgeable old pro. How can this be? My Dad told me, “The new broom sweeps clean.”
New salespeople bring some qualities to the team that the seasoned pro may have lost somewhere along the way.

-They still think everyone is going to buy; so they try.
-They still think they need to follow the rules, so they do.
-They still think they have a lot to learn, so they study.
-They still think they are working for a great company and they show it.
-They still think they need to follow the system, so they don’t take shortcuts.
-They still think their appearance is important, so they look their best.

When experienced salespeople maintain these qualities they are unbeateable.

You Need To Dig For It

If gold were found lying on the surface, everyone would pick it up. The fact is that you need to dig for it, sometimes deeper than you may want to. The same is true whether prospecting for gold or for new business. There are two kinds of people in the world; there are those who get what they want, and those who take what they get. Guess which one gets the most.
Customer prospects (and gold) are everywhere.

Put On Your “Prospecticles”

The good prospector is always on the look out for new business. Regardless where you might be, chances are there are some good prospects within sight, but you must be looking for them. I have a term; DBWA (Doing Business Walking Around). It is amazing how many people you can meet if you have your “Prospecticles” on while you are anywhere.

W. Clement Stone

Like many people I have walls of framed mementos in my office. Perhaps the most treasured of them all is this 1975 photo of me and W. Clement Stone (May 4, 1902 – September 3, 2002) taken in my Hollywood office (very faded), along with the one of him wearing an oversized “Do It Now” T-Shirt that I had made and sent to him.
“Clem”, as he was affectionately called was a prominent businessman, philanthropist and self-help book author. “Do It Now” was Clem’s motto. While in my office that day he told me this wonderful story.

As Clem was getting into the elevator to go up to his office at Combined Insurance Company of America, a man stepped in and said, “Hey Clem, I’m ready to buy that policy you have been talking to me about.” Clem said, “Okay, I will drop by your office later today to write it up.” The policy was for a million dollars.

By the time the elevator reached the top floor Clem had an idea. He called a spontaneous meeting with his top salespeople and announced, “Just a few minutes ago a man in this building told me that he is ready to sign for a million dollar life insurance policy. I told him that I would come down today and write it up. I’m kind of busy today, and was wondering, would any of you like to go take it?” Of course they all raised their hands enthusiastically. Clem then said, “Great, go find him.”

Clem told me that they sold well over a million dollars of insurance that day, in that building, and never found the man. Think about it! This story has stayed with me for the last 37 years. All of those “prospects” were in that building all along while his salespeople were sitting on their hands drinking coffee, or doing something other than prospecting. The business was right there under their noses. All it took to get them out there “prospecting” was the assurance that someone would buy. That assurance is always the case.

“I start buying when I run into someone that is selling.”
-J. Paul Getty

Clem died at the ripe old age of 100. I hope you will take the time to click and read this story. If you don’t find it inspiring, have someone take your temperature.

You’ve Come a Long Way Baby

“One Ringy Dingy…”
I’m sure that I date myself when recalling the days that Lily Tomlin portrayed that hard core woman working at the Phone Company who had full control over your communication. Deregulation changed everything. As a monopoly, the one and only Phone Company thrived. But when things became competitive we saw numerous phone companies now in competition with one another. The Carlyle Group in Washington D.C. acquired Hawaiian Telcom in 2005 from Verizon Communications Inc. They did it with borrowed money, and then chose file for Chapter 11 protection rather than pay the bill.

“Hi Mom”
The once powerful Phone Company has taken hard hits from its own offspring; the cell phone. Along with free enterprise comes competition, and there’s few industries more cometitive today than cell phone companies. Innovation is on the fast track and I don’t see how the old phone companies will ever be able to keep up. I see more and more people opting to use cell phones as their principle at home phone, and then there’s Skype, where you can talk free over your computer. I haven’t paid for a long distance call since getting it. Watching this all play out is going to be very interesting.

Look Ahead to the Future
When selling, think about more than just this sale. With a little added thought and effort you can manage the lifetime buying cycle of your customers. There is someone else out there that wants your customer, and it is a sad scenario when a customers goes to a different store next time when you have what they are buying.

Communication Tools
The key to future sales is building lasting relationships with existing customers. You have access to tools today that didn’t exist just a decade ago. How effectively are you using e-mail, your computer, your web site, CRM, and the good old the telephone? When you use all of these tools (and more) to stay in touch with your customers, you will have satisfied customers that wouldn’t dream of buying from your competition. Could you imagine getting great service in a restaurant and then dropping your tip on a different table?

Do You Expect One?

I asked the above question on my iPhone “Thumb Survey Application” and these were the results.
One area where many retail salespeople shoot themselves in the foot is offering discounts. Doing this not only eats into the company’s profit, but can actually cause you to lose the sale entirely. How could that be?

TRUST

One of the biggest determining factors when buying is trust. If the price is not real, maybe the product isn’t either. Offering a discount to make a sale can communicate just that. When customers make excuses for not buying, like, “I need to think about it” and the truth is they just don’t like it, a discount won’t make them like it any more. I walked into a furniture store recently and the salesperson came out of the back room and announced, “Have a look around, if you see something you like I can work with you on the price.” What he was really saying is, “None of our prices are real, and if you are a good enough negotiator you might get a deal.”

“Just asking…”

Many customers don’t need a discount to buy, but, if one is available they will take it. A wealthy client of mine went into a reputable jewelry store recently and picked out a bracelet for his girlfriend; $5,000. He asked the salesperson if that was his best price. The salesperson paused, thought for a minute and then said, “Well, we could finance it.” With that he pulled out his  black American Express Card and said, “That’s okay, just put it on here.” He told me that was “the nicest insult he ever had.” It was as if the salesperson said, “Well if you can’t afford it what are you doing in this store?”

“If We can, will you…?”

With all of this being said, there are times a discount can close a sale and many salespeople are armed with this tool. If that’s the case, it should only be used to CLOSE the sale, not to OPEN the sale. If your company gives you a “discount budget” and price becomes an issue, ask the customer, “Is the price your only concern?” If the answer is, “No” you have work to do; offering a discount isn’t the answer. On the other hand, if the answer is, “Yes” you can say, “Okay, I will see what we can do, but if I get the okay, are you ready to get it today?” Now go call or ask someone. Don’t put yourself on the bargaining table. The customer may be a better negotiator than you are.

The sign on your door or window can oftentimes be your 1st (and lasting) impression. Since you never get a second chance to make a 1st impression, be sure that the one you are making is what you want it to be.

Help Wanted
If you choose to advertise for employees on your store door or window, be sure that the sign is professional, and implies that your need for help is because of growth, not your inability to keep employees.

Sales
People are not likely to believe that you are really offering an 80% discount. Signs offering huge discounts are more likely to communicate “huge markups” than they are “huge bargains.” Generally speaking, discounts should be used (if at all) to close sales in the store, not to bring people in the door.

Be Back
When you have to close your store for some reason, accept the fact that you are going to miss some business while you are gone. Most shoppers will move on, and not return. The most expensive salesperson is the missing salesperson. If you ARE working alone, and MUST leave, be sure that your sign tells the precise time that you will return. A sign that say’s, “Be right back” or “Will return in 10 minutes” makes one wonder; “Starting when?”

Customer is King (or Queen)
You can get by without a lot of things in business, but your customer is not one of them. Never take customers for granted. Be sure that your signage shows appreciation and respect for the most important person in your store: the customer!

Clever???
Not! Too many times an attempt to be clever actually leaves the customer wondering just what you mean, if you made a mistake, or were just not thinking. Be smart because your customers are.