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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


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



Is Your Customer A Zero Or A Hero?

- posted by Yale Morgan

Growing up we all had a hero, for some of us there were many, from the superheroes on TV to our teachers, youth leaders and of course our Mum and/ or Dad. Remember how we admired and respected them, even hanging on the every word they said.

Being in awe of their presence and wanting to grow up to be just like them? Sadly as we grow older, life gets in the way and in many cases we no longer have our heroes. But if you're in business, I put this to you .. Your customers and your team are your new heroes! Sadly I see many businesses treat customers as Zero’s.

Watch your business explode when you admire, respect and hang off every word your customers and staff say. Why do I include your team? In the words of Sir Richard Branson .. Look after your staff and they will look after your customers.

To Your Business Success

Cheers,

Yale Morgan


Would You Buy From You?

- posted by Yale Morgan

Interesting question, can you answer it truthfully? Now days customers meet with numerous salespeople (plus the online “electronic” salespeople), Your customer is exposed to every sales gimmick, trick, style and approach. The old rule about how someone will make a decision about you within 30 seconds, well, its probably half that with a sales person!

Your customer will either like you and stay interested, or don't like you and tune out. That's why it's important to constantly assess your own sales style ... in short, would you buy from you? Remember, you customer is only listening to their favourite station WIIFM (Whats in it for me)

That said here are 14 questions(as prepared by legendary sales guru Tim Bednarz) to ponder:

1. Do you show a genuine interest in your customer's needs and problems?

2. Do you listen attentively when your customers talk, or are you just waiting to give your pitch or add your own comments?

3. When you make promises, do you follow through and deliver what you promised?

4. When presented with problems or questions, do you always respond quickly?

5. Do you present your features and benefits before you have had a chance to determine how or why your benefits can help your prospect?

6. Do you over-promise your prospect just to close the sale?

7. Do you thoroughly believe in the company, product or service you represent and sell?

8. What is first and foremost in your mind? Your Commission? Your Quota? or Your Customer?

9. When you contact a customer, are they happy to hear from you?

10. Do you keep your customers current of what is happening in your industry and aware of current events that might be of interest to them?

11. What is your goal? To close the sale or build a long-term relationship with your customers?

12. Do you work to achieve a Win-Win situation with your customers

13. What would you do if you discovered that your prospect wasn't right for your product?

14. If your competitor's product better served the needs of your customer, would you recommend it to them?

To Your Business Success

Cheers,

Yale Morgan


What Will You Do Differently This Year?

- posted by Yale Morgan

As we enter the beginning of an exciting new year, I hope you have given time to reflect on 2015. Whilst there were many challenges, and obstacles, it’s also important we celebrate the triumphs! If you haven’t already, now is the time to be planning 2016 and what opportunities could be.

Maybe you’ve heard the term in business “I Have Met The Enemy – And He Or She Is Me”.

So often this is true but, a very exciting concept because that means as owners or managers, we have the ability to change dramatically, the insides of the 4 walls we call our business.

An article that we have used many times in the past (with updates), originally written by my mentor Damien Parker is something I like to remind my clients as we approach each new year. Titled “This Year”

  • This year I’m, not going to be a procrastinator; I’m going to do things on time every time. This year I’m going to utilise my time effectively.

  • This year I’m going to plan my day in advance – in fact I’m going to write down my job functions every morning – first up! I’m going to prioritise them and I’m going to attack them in the order of importance.

  • This year I’m going to give me and my family the priority we deserve, which is priority 1,2 and 3. I’m also going to concentrate on my health, because a dead me is no good to anybody.
  • This year I'm going to work on my spiritual health by spending time in prayer and meditation

  • This year I’m going to delegate more to my staff but firstly I’m going to find out whether they are suited to the role and then I’m going to train the hell out of them. 
  • This year I’m going to look for people doing things right, and I’m going to comment on their good performances and reward them accordingly.

  • This year I’m going to communicate more effectively with my staff, in fact I’m going to schedule regular meetings to inform them of what’s going on. I’m going to tell them what’s going right as well as what’s going wrong, above all, I’m going to get them involved. I’m going to seek their views and suggestions.

  • This year I’m going to implement a regular program of calling my customers or clients – just to say hello and to let them know that I care about their progress. 

  • This year I’m going to say thanks more often and smile when I say it.

  • This year I’m going to I’m going to keep a positive mental attitude and I’m going to be a motivator of others. 
  • This year I’m not going to make a promise unless I can deliver on it. 

  • This year I’m going to actively look for opportunities. 
  • This year I’m going to concentrate on pleasing my existing customers and be absolutely loving of my big customers.

  • This year I’m going to get everyone in my business to think “Do It Right First Time”. 
  • This year I’m going to concentrate on the rule of “A penny saved is a penny gained” and look for every cost savings idea in every facet of the business. 

  • This year I’m going to concentrate on building up my average sale, by actively up selling, cross selling, down selling and switch selling. 
  • This year I'm going to get smarter on the use of the digital economy in my marketing and become a social media guru

  • This year the entire business is going to concentrate on doing the little things right everyday, and to do this, I need to inform the staff, keep them alert and motivated everyday. We’re going to sweat the small stuff. 

  • This year I’m going to concentrate on building my business on a secure base. 
  • This year I’m going to get serious about training; I’m going to train my staff into a superior outfit. 
  • And This year I’m going to make my staff proud to be associated with my business or division and damn it, I’m going to mighty proud myself when we achieve all the goals we deserve. 



So go to it before your competition does, because within the 4 walls we call our business - there is enormous opportunity.


To a Positive and Prosperous 2016!


Cheers



Yale Morgan



The Secret Of Sales Success

- posted by Yale Morgan

How healthy are your teams sales skills? What’s their average conversion rate compared to industry average? Are you happy with the current level os sales now? In many cases, businesses I speak to are not happy with their sales but don't do any thing about it!

Well they may use threats, “if you don't get your target …” etc or they may take the soft approach “Business is just a little tough for everyone right now” .. Blah! No need for you to go bust because everyone else is!

I’ll share two secrets of sales success with you.

Number 1: Find out what people want - and help them get it (stating the obvious, but all too often i see sales people trying to sell what they have or want to sell rather than finding out what their customer is really after)

Number 2: Sales people aren't born - they are created! Yes .. some may have the natural “gift of the gab” but professional sales people are trained and follow a structured process.

Let me share a proven process that all sales people should go through, basically just 7 steps. Depending on the type of sale, the process might be a few minutes (fast paced retail) or days/ weeks/ months (larger corporate style sales). You see, many people enter into sales excited and ready to take on the world, but after a string of “No’s”, they become deflated, disillusioned and downright miserable and often just get up and move on. Never to experience the thrill of helping people get what they want! Here is your process for sales success:


  1. Building rapport and relaxing your client
  2. Setting the scene
  3. The story 
  4. Questioning 
  5. Qualifying 
  6. Presenting the solution
  7. Closing the sale

To Your Business Success

Cheers,

Yale Morgan


Develop A Culture Of Trust

- posted by Yale Morgan

Yes of course your customers must trust you and your business practices should leave no doubt whatsoever in their mind that they can trust your products and services implicitly. This isn't the culture of trust i’m talking about. In the book by Patrick Lencioni called The Five Dysfunctions Of A Team his story is centred around a fictitious company of quality products and services, abundant financing, perfect market conditions etc yet there isn't any growth, in fact the business seems to be imploding.


If you can imagine a pyramid, with the foundation being the largest what would you think is paramount to any business success? TRUST - Among the team.

This isn't an easy thing to do, and far too often I see this in many businesses, the people responsible for creating trust and acceptance in the marketplace .. don't trust each other, crippling the business.

You see, building trust among the team, (including you, sorry to say, but many employees don't fully trust their immediate supervisors, managers and owners), requires vulnerability and the courage to take risks knowing their backs are covered, regardless of the outcome.

Building trust is empowering your team to have frank open discussions and candid debate. Without being too involved in their lives, trust comes from a place of understanding what else is going on outside work, what are your teams hopes, desires, passions and fears. Where are they most vulnerable in the workplace that perhaps you can plug that gap. On the flip side, where are you, the business owner/ manager, most vulnerable, and how can they help you?

Like respect, trust can only be earned. You and your team must encourage each other and stick the hand out when a member is struggling. Be open about where the business is headed, the tasks at hand and be specific about the desired results.

To Your Business Success

Cheers,

Yale Morgan


Does Your Business Workplace Have Tension?

- posted by Yale Morgan

As a general rule the main cause of a tense work environment is either a lack of communication causing distrust or miscommunication. Here are a couple of ways you can reduce the tension in your business.

All too often a business either has no Job descriptions or they are imprecise. In these cases, communication breaks down because one or more people don't have the correct view or understanding of what is expected and by who. The solution is to ensure you define accurately all the job functions (including yours, the business owner) and that everyone is aware of who is to do what, when, where and importantly what the desired results are.

Tighten up loose language, get your team to be precise on their communication. Get rid of words such as “maybe” or “probably” with “yes” or “no”. Another one I like to take away is “I’ll Try” - you will or you won’t.

Get in the habit of double checking all parties understand the message, to do this, simply ask questions.

And finally, tension is heightened when you talk about the issue to everybody else other than the the person who “messed up”. The grapevine will ensure they get the message! Its always better to have that one on one conversation with the individual.


So why not print this out and give it to your team .. ask them if they are clear about their job functions, your expectations and of course, what are their expectations of you.


To Your Business Success

Cheers,

Yale Morgan


Questions Every Business Needs To Ask

- posted by Yale Morgan

Whilst we are busy with the day to day questions and answers in our business, we need to get a little more serious about the types of questions we are asking, not just ourselves, but importantly our teams. Here is a list of questions that are easy to ask, but often quite challenging to answer. That said, the degree of clarity you can achieve on your responses, will certainly have a large part to play in the future direction of your business.

What Business Are We In?

What Business Do We Want To Be In?

Who Are Our Customers?

What Do They Think They Are Buying?

What Are We Selling? (And I must point out here, it’s not just your product or service)

What Do Our Customers Think Our Strengths And Weaknesses Are?

What Do We Think Our Strength And Weaknesses Are?

How Do We Maximise Our Strengths And Weaknesses?

Those questions you need to ask yourself, of course in consultation with your team and customers. The below questions, directed at your team members, are great questions for your monthly meetings (perhaps get the responses in writing from your teams):

What Are We Doing?

What Should We Be Doing?

What Should We Be Doing Next?

What Should We NOT Be Doing?


I would also suggest some personal questions like …

How Much Does What I’m Doing Matter To Me?

How Much Of What I’m Doing Matter To My Future?

What Do I Need Right Now To Achieve Maximum Positive Results In My Life?

These are powerful questions and the answers will surprise you.

To Your Business Success

Cheers

Yale Morgan

President


Increase Your Sales Effortlessly Part 4 - Using Down Selling

- posted by Yale Morgan

Over the past few weeks, we’ve discussed the easiest way to increase your sales and profits was to simply sell more to those who already know, like and trust you. Three of the skill sets we referred to was to use a “Bump”, “Up-Selling” and “Cross Selling” (if you missed any, email me and I’ll flick you over a copy). This week, we’ll talk about “Down Selling”. In essence, sell up by selling down.

After you have qualified the customer and moving towards your recommendations/ sample etc, always first offer the higher-priced, feature-packed version of your product or service. (Just so you know, rule of thumb is people will most likely spend 50% more than their original “quoted” budget.) If they don’t take the higher priced product or service, only then present them with the down-sell version - one that retains the same basic core benefits of your premium product, but at a lower price.

There’s a very good reason for offering your premium product first! According Robert Cialdini, Ph.D. in his book, Influence: The Psychology of Persuasion, people are much more likely to purchase a lower priced version of a product or service once they have been exposed to the higher priced product or service they’re interested in. When you start at the bottom and work your way up, you may get to the secondary price point, but certainly not the higher. When you start high, they most often only drop back one level, thus giving you a higher average selling price every time. (And I would expect with higher bankable dollar margins)

Dr Cialdini also states that customers that buy quantities of your high-priced product or service are also likely to buy much more of the same or similar product or service if they are offered a bulk purchase discount. Which customers might be willing to buy extra quantities at a reduced cost? Make a list! They’re likely to be your best customers.

How do we maximise all of these selling techniques? Bumps, up-sells, cross-sells and down-sells don’t have to be used separately. Here’s an exercise: First try up-selling to your customers, and then bump the up-sell. If that’s successful, you may want to try cross-selling other products or services to your customers. If they don’t commit, make a down-sell offer.

Now here’s a tip. Don’t be afraid of appearing to be too pushy - people always like to receive offers on products and services that interest them. (I must stress the key words are “interest THEM” and the value needs to be exceptional)

With your knowledge across these article on bumps, up-sells, cross-sells and down-sells, it’s time to put them into ACTION.

To Your Business Success

Cheers



Yale Morgan