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Bundaberg Chamber News

Write It Down

- posted by Yale Morgan

What’s that old saying? - The faintest pen will outlast the greatest memory/ Of course in this day and age, everything digital (good or not) is stored, somewhere, for eternity!

Lets discuss your marketing plan, regardless of whether you're a one man band, or a multinational, if you don’t have a marketing plan and it isn't written down, then you may be in strife!

A written marketing plan is such an important aspect of your business planning, I simply cant stress just how much! I often come across businesses that don't think they need a properly documented marketing plan (in many cases, there’s no plan at all!) - GASP! Your business is MARKETING!

So if you're a business, any business - a plumber, electrician, dentist, solicitor, lawn mowing, accountant or general store proprietor - You're in marketing (and sales, but we’ll cover that off in another issue). You bet, your job is to MARKET your products and services!

Here’s just how important a written marketing plan is:

1/ It will clearly define what markets are beneficial for your products and services and the type of customers you want to pursue

2/ Your plan will tell you when you've succeeded, when you've fallen short of your goals and when it’s time to review your direction to take advantage of new markets, or fight against the PIA competitors

3/ Your marketing plan is an all purpose document - if you don't have one, how will you know where the business is headed or how you're going to get there?

There is no such thing as “yep, I've got it all up here (pointing to your head)”, if it’s not written down and documented .. how can you measure your results? How can you define who will be interested in your products and services, how will you know what media or methods work best for you, and so on?

Make it a priority, NOW, so you can kick it into gear for you and your team to follow. Your business road map to success. Don't let this one slip - get it done NOW!

If you're unsure where to start, send me an email to yale@betterbusinessgroup.com.au and I’ll shoot over, FREE of charge, one of our Special Action Reports “Creating Your Own Marketing Strategies”

To Your Business Success

Cheers


Yale Morgan

www.yalemorgan.com


Learn To Love Objections

- posted by Yale Morgan

Last article we discussed “How do we sell more at higher prices?” Of course, along the way, you're going to have to cover and fend off objections. Some will be true others will be throwaway objections. In essence there are two main reasons for an objection to come up:
1/ The prospect doesn't trust you
2/ You haven't convinced them you can meet their needs or wants or help them achieve their desired objectives (especially in B2B situations)

Regardless of the reasons, the Golden Rule for Objection management is they are always a request for further information. The fact is, an objection, is a special kind of buying signal. If the person(s) in front of you weren't interested, they'd just walk away right?

I sales, we must learn to love objections and have clear strategies on how to handle them. Each business will have a fairly specific set of objections often used by potential customers/ clients.

It’s important to understand, a persons rejection of your request for them to buy is not a rejection of you, just a rejection of the offer you made. Originally developed by Peter McKeon of “Salesmasters International”, the key to success in handling objections is a 6 point plan. Over the next couple of Articles we’ll run thorough them.

Firstly you must Empathize the objection. Never argue with the objection as thats the fast way to lose the customer from the onset. Accept your potential customers perspective as the point in which you’ll begin the process of managing the objection.

As an example” John I can completely understand you’ll need to think about it, many of our most loyal customers said the same thing - at first”

So as your first action point, get your team together and list 5 main objections they face when selling to customers and start with Step 1 - Empathize The Objection.

I’d love to see what you come up with, feel free to flick over an email with your results to yale@betterbusinessgroup.com.au or leave a comment on the blog page.

To Your Business Success
Cheers

Yale Morgan
www.yalemorgan.com

Break It Down and Sell More

- posted by Yale Morgan

How do we sell more at higher prices? Whilst there are a number of strategies available, I like to go back to an “oldie but goodie”. Perhaps you've heard it before? “Break it down to the ridiculous”. In todays economy, its easy to use coffee as a value, why .. because most of drink it and from a cafe so we’re up on what the cost is plus the frequency.

So what does coffee have to do with sales of your product or service? Let’s assume we have a value of $4.50 for a coffee, straight away we have a measurement. So when we are doing complex sales that involve a reasonable some of money we can put the coffee economy into perspective. Here’s an example:

Builder A is $20,000 more expensive than Builder B. We know on average we stay in our homes for between 7-10 years, but most mortgages are around 25 years so thats how people think when it comes to pricing, here’s what builder A would do.

Knowing that the client wants the additional benefits of Builder A but is struggling to justify the $20K price difference, Builder A should go back to the golden rule which is “People buy on emotion but justify with logic”. Simply builder A would show the client this:

"Mr and Mrs Client (because another golden rule is to have both decision makers at the closing presentation), your new home will be a source of joy for the next 25 years and beyond, do you realise for you to build and raise your family in your dream home, it’s only $2.20 a day, that’s less than a half a cup of coffee …” and then how they manage to close the deal out.

You can use this strategy for any larger ticket purchase based on the length of time the customer/ client benefits from the product, try it out with your team, get some numbers and scripts in place and sell more!


To Your Business Success

Cheers


Yale Morgan

www.yalemorgan.com


Business Excellence Awards Media Release

- posted by Yale Morgan

BUNDABERG AND DISTRICT CHAMBER OF COMMERCE

MEDIA RELEASE

MEDIA OPPORTUNITY: 9.30am Wednesday 5th April – outside Auswide Bank Branch, Barolin Street (ground floor of Auswide Bank Building)


The Bundaberg Regional Chambers of Commerce 2017 Business Excellence Awards have been taken to a new level with the announcement of Auswide Bank as major sponsor of the Business of the Year Award.

Bundaberg and District Chamber of Commerce President Yale Morgan said it was a great show of support by Auswide Bank. “Auswide Bank is such an iconic local business that now does business around Australia and it is very gratifying that they are sponsoring this year’s Business of the Year Award” Yale said. “Auswide certainly backs businesses, as well as the community, and this sponsorship is testament to that support”.

Auswide Bank CEO Martin Barrett said he was delighted that Auswide Bank is able to support the Bundaberg Chamber’s Business Awards. “As a bank with its foundations in Bundaberg it is fantastic to support the Chamber in recognising the abundance of business talent we have in the region” Martin said. “Business innovation and growth is essential for the region as its implication is jobs growth and economic prosperity”.

Nominations are now open for the Business Excellence Awards. Businesses can nominate themselves, or anyone can nominate a local business that demonstrates outstanding initiative, achievement and dedication, along with a commitment to the Bundaberg Region.

Yale Morgan said the Awards had been expanded this year to include tourism awards. “We are delighted that Bundaberg and North Burnett Tourism have come on board this year” Yale said. “There is 5 tourism categories this year, to recognize the tremendous part tourism plays in our economy and business community”.

BNBT General Manager Katherine Reid said that entering into the Business Awards is a fantastic benchmarking tool. “The awards process gives you the incredible opportunity to take a step back and look at what you’ve achieved throughout the year, and also assist in business planning for the following year” Katherine said. “BNBT are thrilled to be partnering with the Bundaberg and District Chambers to include the additional tourism specific categories this year. We have ensured that they align with the State Tourism Awards, to encourage our remarkable tourism businesses to take that next step to also enter their product into the Queensland Awards.”

17 categories will be awarded with one outstanding business being named Auswide Bank Business of the Year:

• New Business of the Year

• Micro / Home Based Business of the Year

• Agribusiness of the Year

• Retail Business of the Year

• Professional Services Business of the Year

• Personal Services Business of the Year

• Tourism Visitor Attractions Business Of The Year

• Tourism Accommodation Business of The Year

• Tourism Culinary Tourism Business Of The Year

• Tourism Festivals and Events Business of the Year

• Tourism New Business Of The Year

• Trades Business Of The Year

• Industrial & Manufacturing Business of the Year

• Health and Well Being Business of the Year

• Community Organisation of the Year


Nominations close Friday 28th April at Bundaberg Chamber dot com dot au and all nominated businesses will be given a nomination pack and the chance to attend a free Information Session with hints and tips on filling out their Nomination.

The FREE "how to" sessions will be held at the office of Just Us Realty U4 42 Johanna Blvd and will be run by Jude Parkinson with a hands-on, practical approach. Available dates are Wednesday 5th April 6pm to 8pm, Saturday 8th April 2pm to 4pm and Wednesday 12th April 6pm to 8pm. To book, phone or SMS Jude on 0414 261 707 with contact details and preferred session.

Judging will be done by independent judges appointed by Bundaberg Chamber of Commerce. The Awards ceremony will be on Saturday, May 27th. For more details on the Awards please contact: Sharon Philp, Award Co-ordinator on 0404 192 600 or email: office@bundabergevents.com.au .


How Would $20,000 Help Your Business?

- posted by Yale Morgan

We expect it could help in so many ways and that's why we want to tell you about the Back to Work - Youth Boost, which has just increased to a huge $20,000. 

Queensland Premier Ms Palaszczuk said youth unemployment was unacceptably high in some regions and the government was determined to address this challenge.

"This is a massive incentive for businesses to hire, especially as school leavers start to look for work after Christmas,” Ms Palaszczuk said.

Queensland Treasurer Curtis Pitt said the $100 million Back to Work scheme provided $10,000 to businesses who took on an unemployed worker and $15,000 when they hired a long-term unemployed worker (out of work for 12 months or more).

"Everyone in our community is concerned about young people being out of work and needing new opportunities for their futures. Our resolve to drive down regional youth unemployment is unwavering which is why we’re offering a specific bonus to regional businesses who hire young people,” Mr Pitt said.

If your business employs a young person, aged 15 to 24, between 1 December 2016 and 28 February 2017 (inclusive) you will be able to apply for the $20,000 payment. Some young people may also be eligible for the Australian Government’s Youth Subsidy Scheme (conditions apply) valued at a further $10,000 (From January 1). 


Payments of Youth Boost are made directly to you, the employer, for taking on staff in either a full-time or part-time position. You can receive the first payment within 4 weeks of taking on a new employee, once an application has been successful.
If you have always wanted to employ new staff, but money has held you back, the Back to Work initiative is a must for you! Find out more by clicking on the Following link:

Back To Work Youth Boost



Do You Own Your Own Online Real Estate Part 2

- posted by Yale Morgan

In the last article I talked about you owning your own name in the online real estate space. I’m not talking about just your business, but also you - “Bill Smith” and the importance of this. Remember, when you are going to meet a potential new client or supplier, what’s everyone doing before the catch up - Googling the other right!

The last article touched on a great website that ranks well called about.me. Hopefully you’ve gone in and spent 10 minutes setting up for personal profile.

I’d also recommend you get your one name as the domain name, might be a little difficult if you have a common name, but if you can get the .com.au at least. Depending what you’d like people to know, this could be more focussed around your professional life and your business, perhaps leave the more personal stuff on Facebook, Instagram, Tumbler and about.me.

On this page, not only would you in many ways, mirror your business page, but also highlight some of the community work and passions you have that help others, be mindful not to make it to much of a “look at me” type copy, but share experiences and more importantly outcomes of the work you do. Charities you support and community organisations you or your team are involved in (yes, these should also be part of your business page too)

You might be thinking, thats what LinkedIn is for and yes you are correct, but it doesn't hurt to have another line on the Google ranking - giving your prospective new client more reason to trust and buy from you!

To Your Business Success

Cheers



Yale Morgan



Do You Own Your Own Online Real Estate?

- posted by Yale Morgan

In the past I’ve often written article on the importance of how people can find you, not just a physical location but also digitally. We’ve discussed web sites, Social Media, Google suite of products etc. Let’s pose this question - when you're about to meet someone new, perhaps a new client, supplier etc, what do you do? Google them right!

Guess what, they’ll be doing the same to you!

Whilst they might find your web site, maybe LinkedIn and other social media, often that information is confused with other pages of content, videos and images. Whist we know the importance of your rankings in Google for your web page, equally important is your personal name! What happens if someone Googles you and they cant find anything about you? What does that say to them, or worse, they may have to trawl through 20 other people by your name, just to find you?

You must own the online real estate for your name. A great web site, that takes less than 10 minutes to set up is http://about.me. In fact, writing this article prompted me to make some changes to my about.me site.

This is a great site to promote you which also linked to all your social media accounts, web sites, newsletter/ blogs and much more! Being a responsive web site, automatically people will be able to view on any device without you having to change any settings.

Check it out, set up a page and start get hold of your name as a brand.

To Your Business Success

Cheers



Yale Morgan



What Type Of Sales Person Is On Your Team - Part 3

- posted by Yale Morgan

Over the past couple of weeks we’ve been discussing different sales people types you may have in your business. Based on the book, “The Challenger Sale” where authors Matthew Dixon and Brent Adamson share the secret of sales success, so far you've learnt about the following types:

1/ The Hard Worker

2/ The Challenger

3/ The Relationship Builder

4/ The Lone Wolf

The last one on the list is the Reactive Problem Solver. These people are reliable and respond well to their colleagues and customers. In their work, they are quite detailed and have an excellent range of knowledge. Not just about the company, service or products, but also about the customer.

As the name suggests - All problems they come across, their mission is to get them solved, and often wont rest until there is a solution. There’s no walking away with these guys!

Now that you know the different types, who do you think returns the highest sales? The Hard Worker, perhaps theRelationship Builder, you may be surprised to discover, at 39%, The Challenger is the stand out! Second is The Lone Wolf with 35%, followed by The Hard Worker, Reactive Problem Solver and coming in last, The Relationship Builder, with 17%, 12% and 7% respectively.

Whist employing the Challengers and Lone Wolves may pose a concern as far as how to control them, they’ll certainly bring you in the results. Perhaps you’ll need to have a relationship builder to take over the customer once the initial sale is made and a new customer on board.

To Your Business Success

Cheers



Yale Morgan



What Type Of Sales Person Is On Your Team - Part 2

- posted by Yale Morgan

If you recall a couple of weeks ago in discussing what type of sales people you have on your team, you learnt more about two being “The Hard Worker” and “The Challenger”. Based on the book, “The Challenger Sale” where authors Matthew Dixon and Brent Adamson share the secret of sales success.

The next three you’ll find out in more detail are:

3/ The Relationship Builder
4/ The Lone Wolf
5/ The Reactive Problem Solver

The relationship builders in the business are fantastic. The nurturers and the “steady”. You’ll find they get along with everyone and spend their days trying to please, not just your customers, but also the team around them. Will they keep your current customers loyal to your business - They sure will!

Lets now consider “The Lone Wolf”, Quite challenging and perhaps not often part of the team. The rule breaker, operate in their own field of expertise and enjoy pretty good success rate in sales. these people have a completely different view of the world - mainly their own. They believe, without them, no one else would survive in the company.

Next week, we’ll talk about the Reactive problem solver, and give you the results on who make the best sales people in an organisation.

To Your Business Success

Cheers


Yale Morgan