Cold Calling an aspect of success

April 28th, 2006 by Rolf Erikson

Jeff Cornwall, Director of the Belmont University Center for Entrepreneurship gives advice on Cold calling,

A key aspect of success for many entrepreneurs is learning how to sell. Your product or service will rarely sell itself. Passively relying on word of mouth is too often a cop-out for entrepreneurs who are intimidated by the thought of having to sell. Cold calling on potential customers can be particularly difficult for many of us.

One thing I have found out is that you must have a script when calling.

Women’s World!

April 26th, 2006 by Rolf Erikson

“Forget China, India and the Internet: Economic Growth Is Driven by Women.” is the headline in the Economist, 15 April. Leader, page 14 followed by a report on page 73: “A Guide to Womenomics: The Future of the World Economy Lies Increasingly in Female Hands.”

Even today in the modern, developed world, surveys show that parents still prefer to have a boy rather than a girl. One longstanding reason boys have been seen as a greater blessing has been that they are expected to become better economic providers for their parents’ old age. Yet it is time for parents to think again. Girls may now be a better investment.” the Leader writes. “Girls get better grades in school than boys, and in most developed countries more women than men go to university. Women will thus be better equipped for the new jobs of the 21st century, in which brains count a lot more than brawn…..

More women in government could also boost economic growth: studies show that women are more likely to spend money on improving health, education, infrastructure and poverty and less likely to waste it on tanks and bombs

WHY can’t a woman be more like a man? mused Henry Higgins in My Fair Lady. Future generations might ask why a man can’t be more like a woman.…the special report writes.
“Women are becoming more important in the global marketplace not just as workers, but also as consumers, entrepreneurs, managers and investors.” Re consumption, Goldman Sachs in Tokyo has developed an index of 115 companies poised to benefit from women’s increased purchasing power; over the past decade the value of shares in “Goldman’s basket has risen by 96%, against the Tokyo stockmarket’s rise of 13%.” A couple of final assertions: (1) It is now agreed that “the single best investment that can be made in the developing world” is educating girls. (2) Also, surprisingly, nations with the highest female laborforce participation rates, such as Sweden and the U.S., have the highest fertility rates; and those with the lowest participation rates, such as Italy and Germany, have the lowest fertility rates.

Try to get hold of the Economist 15 April and read the whole story!

Take care of your customers!

April 26th, 2006 by Rolf Erikson

From time to time I have a look at Warren Greshes´blog. This time he had a story from the mobile phone industry. From one of his reader he got a story which can stimulate us doing a little better.

As usual he talks about the customers. To get new customers and look after the old ones are the most important things in all business. This story started at home and is now a worldwide business thanks to a few rules they sat up from the beginning. The rules are,

  • If we don’t look after the customer, someone else will
  • Nothing is gained by winning an argument and losing a customer
  • Always deliver what we promise – if in doubt under promise and over deliver
  • Always treat our customers they way we would like to be treated
  • The reputation of the whole company is in the hands of the individual

Podcasts worth listening to.

New Business Ideas

April 25th, 2006 by Rolf Erikson

Springwise scans the globe for the most promising [tag]business[/tag] [tag]ventures[/tag]. On their site “new business ideas for entrepreneurial minds” you can read and get inspiration of the ideas the present.

For Sparking curious young minds you read,

With Nintendo DS and instant messaging gobbling up children’s time and attention, low-tech alternatives are on many parents’ wish lists. The Little Experience began when its British founder, Tai Broadhurst, wanted to keep her two sons occupied after her twin daughters were born. In her own words, Tai wanted toys and activities “that demanded unconditional concentration and participation.”
[tags]coaching, entrepreneur [/tags]

Successful Business

April 25th, 2006 by Rolf Erikson

David Daniels posted A Tale of Two Companies why two companies in the same industry can be so differently successful over an identical time frame.

In my opinion, he says, the essence of survival and success is the ability of an organization to acquire new clients and retain current ones.

Tips on negotiation

April 24th, 2006 by Rolf Erikson

Debbie Call has been on a crash course in the art of negotiation. In the post You Get What You Negotiate she gives us some tips on how to create a win-win and save money.

1. ASK for a better deal.

2. Create affinity with the person early on.

3. Good negotiations end up in a win-win.

4. Have a hook – a rationale that makes sense to the other person. Here are some examples:

5. Use a weakness as a strength.

6. Negotiate with the person who has the authority to give you the deal.

7. Don’t go first.

Read the whole story here.

Lessons about making money

April 22nd, 2006 by Rolf Erikson

Jim Logan has written three posts about how to make more [tag]money[/tag]. It started after a talk to friend says Jim Logan. It ended up in the form of a bet that he could write a series of post with exactly 100 words each to teach people how to [tag]make money[/tag].

According to Jim there are only three ways to make more money.
Get more new customers, increase the value of your average sale, or increase the volume and frequency of repeat [tag]business[/tag]. There are no other ways.

He also says that you need all three ways making money for your business at the same time.

Start Listening To Your Clients

April 21st, 2006 by Rolf Erikson

The biggest reason [tag]salespeople[/tag] fail to listen to their prospects and clients (and all the buying signals they’re giving out) is because they have not carefully planned out their presentation and what they want to accomplish on that particular appointment. They have no agenda and probably no goal for what they want to walk out with.

This is said by Warren Greshes when given advice to salespeople and small [tag]business[/tag] owners. In a post “Listening To Your Clients” he gives the following advice,

The biggest reason salespeople fail to listen to their [tag]prospects[/tag] and clients (and all the buying signals they’re giving out) is because they have not carefully planned out their presentation and what they want to accomplish on that particular appointment. They have no agenda and probably no goal for what they want to walk out with.

  • First, know what you want to say before you walk in the door.
  • Second, think about what you want the client to talk about and formulate questions that will get them moving in that direction.
  • Finally, after you’ve asked your questions, SHUT UP AND LISTEN.

Very true, so you better have to prepare yourself before you are meeting your [tag]clients[/tag].

Understanding Cash Flow

April 12th, 2006 by Rolf Erikson

A successful[tag] business[/tag] rests on sound recordkeeping practices and solid [tag]cash flow[/tag]. Without good records it is impossible to determine the financial condition or profitability of a business. Similarly, in order to survive a [tag]small business[/tag] must achieve a positive cash flow in the long term. This Financial Guide provides the basic information the owner of a small business need to establish good recordkeeping practices in your business and to minimize cash flow problems.

The contents of the article are,
Recordkeeping—Why It’s Necessary
What Exactly Will The Records Tell You?
The Basic Recordkeeping System
Understanding Cash Flow
Planning A Positive Cash Flow
Keeping A Cash Reserve
Using A Personal Computer

Go there and click on Understanding Cash Flow

A simple path to success

April 11th, 2006 by Rolf Erikson

The Simplest Path to [tag]Success[/tag] is a post at lifehack. That´s a writing about how to succeed even if you are nearly to give up.

You don’t need a life plan. You don’t need [tag]motivation[/tag], self-confidence, peer support or even luck. All you need is the willingness to take the next most obvious step—then repeat the process again and again, regardless of how you feel. Try it. Happiness comes from seeing the results of your efforts. You don’t need it before you start.

The article gives two examples. I think it´s worth reading even if your problem is not so bad as in the examples. There is a couching theory also saying that small steps in what is working is a good way to make [tag]changes[/tag].

Mistakes common to many entrepreneurs

April 11th, 2006 by Rolf Erikson

The [tag]Cash Flow[/tag] Blog has an interesting article, Are You Making Any of These 10 Deadly [tag]Small Biz[/tag] Mistakes?

The presents a 10 list of traps/mistakes are common to many [tag]entrepreneur[/tag]s:

1. Getting Wedded To an Idea And Sticking With It Too Long.
2. No Marketing Plan.
3. Not Knowing Your Customers.
4. Ignoring Your Cash Position.
5. Ignoring Employees.
6. Confusing Likelihood With Reality.
7. No Sales Plan.
8. Being a Lone Ranger.
9. No Mastermind.
10. Giving Up.

Get the details!

An Alternative Planning Method

April 10th, 2006 by Rolf Erikson

We usually base our planning upon false assumptions says Carmine Coyote in his post Slow Planning in two parts.

[tag]Planning[/tag] is one of the commonest [tag]management[/tag] roles. Yet conventional approaches typically fail to match expectations and encourage an attitude of dangerous inflexibility. Slow Planning offers a more rational alternative.

His method is divided in three parts;

1. Patiently develop understanding.
– Watch, reflect, consult and explore.
– Open your mind to many alternatives besides the obvious.
– Wait for recognizable patterns to emerge.
2. Review as many possibilities as you can.
3. Take swift, direct action.

Read all the details!

A new product Test site

April 9th, 2006 by Rolf Erikson

alaTEST is a unique service helping consumers with their shopping decisions by objectively informing them about product quality.

On their site the say,

* providing you, at no cost, with valuable product quality information conducted by professionals representing over 600 reliable sources
* helping you to understand the millions of [tag]product tests[/tag] available both online and offline through an objective standardized quality rating calculation
* simplifying your [tag]purchase decision[/tag] by aggregating professional [tag]reviews[/tag], a quality rating, product specifications and the lowest price available in local markets

About dealing with your e-mail

April 9th, 2006 by Rolf Erikson

E-mails are not fun any more because of all the [tag]spam[/tag]s. But most of the informations comes over e-mail and many must have a response. So you must figure out a way hot to deal with your e-mail.

Keith Robinson gives you some tips about dealing with your [tag]e-mail[/tag] and doing your very best to respond to every legit e-mail you get in a reasonable time frame.

After you have cleaned out your inbox, which must be your first action then you can follow his tips,

What I do is have a top level folder for my each of my main alternate addresses. Within these folders I’ve got sub folders broken down various ways, depending on the needs of the address. These folders are for archival purposes only. I use them to store e-mail that doesn’t need action but may need reference.

I then have two top level folders for things that may need action. A “Waiting-Followup” folder for things I’m waiting on someone else for or things that aren’t urgent, and a “Needs Response or Action” folder for things I need to respond to. I’ve got sub folders in these to split things up by e-mail address. I usually mark messages in my “Needs Response or Action” folder for an added reminder.

Then Keith Robinson gives a few tips and observations like check your mail 3-4 times a day instead of every 10 minutes and too much automated filing can make it hard to know what’s in your archives and you run the risk of losing something important.

If you have problems with your e-mail this post is worth reading.

Negotiation Tutorial

April 6th, 2006 by Rolf Erikson

Professor Ross of the University of Wisconsin – Lacrosse has an [tag]negotiation[/tag] [tag]tutorial[/tag] that may help you become an effective negotiator.

The tutorial is divided into several topics. Each topic may be considered independently as a “stand-alone” unit (unless otherwise noted). In the block “Integrative Bargaining” he says,

First, you have to really understand your interests. You may need to ask yourself questions such as: “What is it that I really want?” “Why do I want that?” “What are my underlying problems or interests?” “If I couldn’t get what I think I want, what else could satisfy me?”