Archive for March, 2016

Dumb it Down

Thursday, March 31st, 2016

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“Oh, I See”
While in a Starbucks recently I picked up a bag of Kona Coffee Beans and asked the barista if he would grind them for me. He said, “Sure, what type of filter does your coffee maker use?” I said, “I don’t know, does that make a difference?” He responded, “Yes, it determines how fine I grind the beans.” Feeling a bit stupid, I told him that I would need to find out, handed him the bag of beans and turned to leave.

At this point one of his co-workers stepped in, and making a V Shape with her hands asked, “Is the filter v-shaped like this, or flat?” When I told her it is v-shaped, she took the bag of beans from her male co-worketr and said, “Got it. That’s all we needed to know.” A $30 sale was made that had just been lost a few seconds ago.

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Don’t ASS/U/ME
Everyone knows what happens when you assume. Sales are missed every day in computer stores, car dealerships and many other places because of a salesperson assuming that the customer understands what he or she has been taught. Avoid using company jargon. Back to Starbucks; I once asked for a “Medium” size cup of coffee and the person behind the counter said, “We call that a grande.” I have yet to go in there again.

Goal Power

Saturday, March 26th, 2016

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It’s Only a Game
How many people would watch or play in a sporting event if there were no goals and was no scorekeeping? NONE!
One of the most influential books I have read is The Game of Work by Charles Coonradt. Charles makes the point that people will work harder at play than they will at work without tiring. When work is fun people will get into it. You make work fun when competition and scorekeeping are involved.

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Goals:
The key elements are goals and goal tracking. People must know where they want to go, believe they can get there, and know how they are doing along the way. As easy as goal setting sounds, a few critical mistakes can actually make the whole thing backfire. The two goals that won’t work for you are, “Too High” or “Too Low.” A goal seen as unrealistic is not motivational, and one that is too low isn’t challenging. I consider the ideal goal to be, “A little out of sight, but NEVER  out of reach.” Some think that simply setting a goal will bring about its fruition. unfortunately it isn’t that easy. Like anything else worthwhile there’s some work involved.  The first step in the process is analysis to be certain the goal is doable, then comes action and follow up.

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Buy-In
There are basically two types of goals; externally and self imposed. If you are imposing the goal, be sure that the person or persons expected to reach it agree that he or she can. This is where the work is involved. Doing it right can be time consuming and inconvenient, but worth it. To spare this work I have seen companies set their goals by way of a formula, such as, “Last year’s sales plus 10%.” This process is a good starting point, but it doesn’t take into consideration “Unforeseen, extenuating circumstances” that make this year much different. For example, last year you had construction going on that hurt sales, but that’s not the case this year. A “formulated goal” would likely be too low. A little time spent negotiating allows you to hold people accountable as the month goes by.

Your Best?

Tuesday, March 22nd, 2016

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YES!
A friend of mine likes to say, “There’s always a little juice left in the orange.” I prefer, “There’s always a little toothpaste left in the tube.” While both of those statement are true, undeniable and acceptable, some people still say, “I did the best I could.” When I hear that I (somewhat sarcastically) will respond with, “Oh, I hope not.”

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Missed Opportunities:
In sales, retail in particular, more is missed than realized. Everyone agrees that a good, sincere greeting is an essential element to retail success, however it doesn’t ALWAYS happen. Stores are usually in one of two modes; no customers or several customers. Ironically more sales are missed when busy than when not. How can this be? A busy store is a draw to potential customers because people think, “There must be something good going on in there,” and the salespeople are occupied, thus no potential threat of pressure. But, without an available salesperson, sales will be missed.

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Look All Around
A busy salesperson may not even see other customers entering the store, thus missed opportunities. To maximize your opportunities, use your peripheral vision at all times to see everything going on around you. Customers who may be “just looking” will change their body language when they see something they like. When this happens you must be ready to move-in and begin giving information.

#1. What’s an “Elevator Speech?”

Tuesday, March 15th, 2016

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#2. Do YOU Need One?

Answers:
#1. An elevator speech is a planned, well rehearsed explanation about yourself and or your business that you can deliver in the length of time you may be in an elevator. When someone asks you what you do, you should have this 20 to 30 second “commercial” so well rehearsed that when delivered it sounds as if you are saying it for the very first time.
I call it, “Planned Spontaneity.”

Your elevator Speech should include the W’s.
Who you are.
What you are.
What product you sell, or the services you provide.
Where to find you or your services.

#2. “Yes.”

 

The Magic Number

Tuesday, March 8th, 2016

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It’s Magical
By definition, the “Magic Number” is the total amount sales that you must average from today until the end of the month to assure hitting your goal.
It’s indeed magical in that (assuming you set a SMART goal) it’s small enough at the start of the month that you know you can do it. And, when you reach and exceed the “Magic Number” you will see that is lower tomorrow therefore making it even easier.
On the flip side however, should you sell less than the “Magic Number” today, it will be larger in the morning, thereby offering you a “wake up call” early enough in the month to accomplish it.

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FORMULA:
The formula to determine your “Magic Number” today is: “Your Goal minus your Accumulated Sales for the Month Divided by the Number of Days Left in the Month to Sell.”
GOAL-SALES to DATE/# of DAYS LEFT
This is not Rocket Science; anyone can do that simple arithmetic. Unfortunately many people tend to forgive a bad day, figuring that there’s still time left in the month to make up for it. While there’s some truth to that, the fewer days you have left, the higher the number and stress level will be.
The key is to develop a sense of urgency early on thus eliminating the stress at the end or even worse missing your goal.

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IT’S EASY!
If you are fortunate enough to be receiving our Morning Report that formula is built in to it and will show you your “Magic Number” updated daily. This acts as a road map to hit your goal.
If you are not receiving the Morning Report CLICK HERE see how you can, and all that it does in addition to this.

Retail Selling Success

Thursday, March 3rd, 2016

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“KISS”
I am a big believer in the “KISS PRINCIPLE” which is “Keep it Simple Stupid.” Success in retail is not rocket science and those who treat it as if it is too often miss what’s most important.
Sure, all of these things and many more help, but in reality there are what I call, “The BIG Three” factors that will determine your success.
They Are:

1. LOCATION:
Most commercial Realtors will tell you that retail success depends upon three things: “Location, location, location”.
That’s not true. People fail every day in the best locations, and succeed in the poorest. It’s not uncommon to hear, “Traffic” as the reason for success or failure. That’s true if you are selling ice cream, but if you are in a high end business like art, furniture or jewelry, it’s good to remember that “It only takes one.”

2. MERCHANDISE:
You don’t need the best merchandise or the best prices to succeed. You need good merchandise and fair prices. Outstanding merchandise at great prices sits on store shelves in some fabulous locations, waiting to be sold.

3. SALESPEOPLE:
Poor salespeople can make a good product fail in a great location. On the other hand, great salespeople can make an average product succeed in a marginal location regardless of the traffic they get. It happens every day.

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Recruit, Recruit, Recruit!
Work to find good salespeople, teach them to sell, expect them to sell, give them the tools they need to succeed, recognize them when they do well and reward their efforts. They will get it done with NO EXCUSES!