I Can't Talk Now, I'm Busy Sabotaging My Business

As a follow up to my post Soaring With Eagles which asks the question; How do you keep yourself motivated:

Why is it that very smart people fail at business? To answer this question you could ask another series of questions; why do we light that next cigarette, why do we eat late at night, why do I drink and drive. The list goes on of the many self sabotaging things smart people do everyday. We are all guilty of doing things we know we should not do but do them regardless of the negative consequences. In many cases it is a question of a persons paradigm. In other words, how they see life.

Some people see life as a glass half full (optimistic) and others see that same glass as half empty (pessimistic). Many of us will have paradigm shifts from time to time but to succeed in business we need to be optimistic most times. Therefore, you must change your paradigm to that of an abundance mentality. There is plenty for everyone. You must, when the days in business are lean, (and you may have more of these days in the early years of your business), you must always reaffirm to yourself that you will succeed and nothing is going to stop me or get in my way.

What I'm talking about is the control of our thoughts. How we think has a direct connection to how we act. If we lose control of our car on the highway and stare at the guardrail we will hit the guardrail. If we stare in the direction we want to go our body reacts and steers accordingly to that direction. Don't under estimate the power of your mind. I believe strongly that if you have done everything physically neccessary to succeed, that is, studied from the masters and then executed on their sound business, sales and marketing strategies and techniques, surrounded yourself with good people then the only missing link is your thoughts.

Your thoughts create the power of attraction. If you are positive you will attract positive energy to you and as a result to your business. If you don't believe me try an experiment with the opposite (negativity) or remember the day recently when you were really upset and spent the day complaining to whom ever would listen. Did you experience some who were drawn into your complaining and complained along with you and that made you feel good? And did you also see some people steer clear of you and refuse to engage in a conversation with you of complaints? Like attracts like. Let me leave you with a tip, most successful people see the glass as half full. Those people who shied away from you when you were complaining are successful people or will be successful and you just alienated your best assets or allys. Imagine if they were your prospects or customers. Imagine if you continue with this negative paradigm how many customers you may not have.

You are smart, so stop the "I Can't Talk Now, I'm Busy Sabotaging My Business" attitude and change your paradigm to "Let's Talk Now, I'm Busy Being Positive For My Business".

Motivation Needs Interpretation

Here is a Sales tip from Jonathan Weaver, Peak Performers. I love this tip on understanding not only your motivations but also the motivations of your prospect. It all leads back to the question every prospect is asking themself when they listen to your sales pitch, "What's In It For Me". As many of you know who read my post Who Do You Buy From? you know I started my career in Purchasing and I know better than most the motivations of the buyer or your prospect.

Jonathan Weaver's Sales Tip:
"Motivation can be defined as a concept used to describe the factors within an individual which arouse, maintain and channel behaviour towards a goal.
Another way to say this is that motivation is goal-directed behaviour.
If you want to be a true sales professional, you will want to study motivation from both sides of the transaction.
On your side of the transaction come to terms with the answer to WHY you'll do the following:
Do the necessary prospecting
Do the necessary homework on each account
Do necessary follow up
Study salesmanship and develop your skills rather than just work at it during the course of the day...
On the other side of the transaction, if you can understand the goals of the buyer you can meet their needs
Why are they meeting with you?
What benefit of ownership of your product / service are they most interested in?
What are they looking to avoid?
When you understand WHY you're working - What you're doing becomes easy! When you understand WHY your prospect wants to buy - Sales are faster and more profitable..."

College Versus Buying A Franchise

I just read the following blog post from Sean Kelly "Wise up! Skip College. Buy A Franchise!" It is very humorous but also thought provoking. When you look at the franchise cost of the top 50 franchises in Entrepreneur Magazines top 500 you may just be further ahead to buy a franchise than go to college.

Let me know your thoughts?

Buying A Business - Ask These Simple Questions:

Too often I see people in jobs making a living but not really living. I know people who make a great income but have no freedom to enjoy their income. I've heard some say I work to live and others say that they live to work. If you live to work then you have found a job you enjoy, that you have fun with and that is great.

If you are thinking about getting into a business for yourself ask yourself if you are buying job security or job satisfaction? In other words, a business you would enjoy? Yes you need to make a good income from the business so you can continue to enjoy the lifestyle you are accustom too but, will it bring you to a higher lifestyle that you may enjoy even more? Will it afford you the opportunity to enjoy your income with your family and friends? What lifestyle are you buying with this new business? One that ties you to the desk or a food preparation counter or, provides you freedom to make choices of when you work or not, take a vacation or not, take a few weeks vacation or only one week.

Too often we look at the numbers to make a decision before we buy a business which is a necessary decision step but, also too often we don't look at our happiness in the business.

Let me leave you not only with my questions posed above but also with a quote from someone I admire, me. :)

“With fun comes passion, with passion comes success”

How To Get "Mo"

Here is something I just received from a colleague that speaks to motivation very simply and succinctly:

How to Get "Mo" by Steve Simms;

What makes you want to do what you do when you do it? That is the mystery of motivation. Motivation is the drive that impels a person to take action. It is an internal need that is satisfied by an external expression. When you experience something and you want to get some "mo" -- that is "mo"-tivation! The truly motivated person wants to take action to either get what he wants, or to avoid what he doesn't want.


"Success is more attitude than aptitude."Anonymous
There are three ways people can become motivated. The first is the K.I.T.A. method of motivation. (K.I.T.A. stands for "kick in the anatomy.") It is based on the fear of punishment. The K.I.T.A. method motivates people to move away from something painful or distasteful. It pushes them into action. An example of K.I.T.A. motivation is when the boss threatens to fire you unless you stop showing up late for work. The second motivation technique is the 4P's Principle. It uses praise, prestige, promotion, or paycheck to motivate people. The 4P's pull people toward something by promising a reward for taking action. An example of the 4P's Principle: "Bill, you are too good an employee to be late for work all the time. And when you show up on time for an entire month, I am going to give you a promotion and a raise. And I will announce it in the company newsletter!" The K.I.T.A. and the 4P's Principle methods of motivation both work, but they are not as effective as the third method. There is no special name for this one. It is just plain ole self-motivation. It involves finding a personal reason, deep inside yourself, to take action.
"...a dynamically motivated person is like an automobile - he is driven by his own power source from within!"
Most people go through life being pushed or pulled by outward circumstances. They do what they do in response to what happens to them. Like a billiard ball, they are bouncing off the rails of life or falling into the pockets -- all in response to the positive or negative cues of their outward environment! An effectively motivated person, however, is self-motivated! He or she is not like a wheelbarrow (being pushed) or a wagon (being pulled). Instead, a dynamically motivated person is like an automobile -- he is driven by his own power source from within!

'Majority Rules' Can Be Inappropriate Decision Making

The following PowerPoint Presentation is something a friend sent me that makes you think at the end about how we make decisions. From an Entrepreneurs perspective, it made me think about how many times I made decisions in haste or solely on emotion which cost me money.

In business sometimes we battle with decisions that is best for the bottom line but sacrifices our ethics or perhaps our morals. I've always leaned toward my ethics and that has not generally failed me in the long run. However, watch this presentation and let me know your thoughts about how you make business decisions today?

Click here to watch the Presentation

Fathers Day, Daughters, And Golf

This blog post is dedicated to my daughter. Brittany, who is 19, planned a fathers day that I will not forget. It was special to me for many reasons but mostly because it was important for her to demonstrate her love in a way she never could before now. In other words, she has some money in the bank that she earned and saved.

My fathers day gift began as a mystery. I was to be "kidnapped" at 9:00 am but first I had to wear my first gift, a Tommy Hilfiger golf shirt. She insisted I wear this with my golf shorts and running shoes. Now I'm thinking we are going golfing but she did very well at the denial. I hope that is not a family trait. As I'm rushed off in the car she continues her ruse of mystery and eventually we enter the parking lot of a local golf course. Upon arrival she informed me that my clubs are in the trunk, that my brother will be joining me (he was set up by his daughter in the same way), she gave me $20.00 spending money, a pen for the score card and a pin for my shirt that was like the the blue ribbon you award to the prize bull at the country fair that said; 'Worlds Greatest Dad'.

My brother was dressed in the same khaki shorts with his new blue Tommy Hilfiger shirt and prize ribbon. Our daughters took our picture together and sent us on our way for the day. As we came off the golf course they were there to pick us up and then continued the day treating us to dinner at a local franchise pub. At the pub they presented us with a framed picture wrapped nice and it was the two of us dressed alike from this morning. I should mention that the golf was great and many fathers were out with their wife and children. Golfing has truly become a family sport.

Our daughters were very proud to do this for us and I was moved and proud of them as I will always be proud of my daughter. My love and thanks to my daughter for the best fathers day so far. Don't tell her but, I miss the paper finger painted ties I use to get and I would be just as happy with that today.

Business Websites Can Make Or Break You

Too often I visit business websites that have not changed their content since my last visit. On occasion, I see outdated contact information including office move addresses that have not been updated. These sites are certainly not effectively following my post challenge; "Put Yourself In Your Customers Shoes". If your website is guilty of these marketing offenses let me leave with you a piece of information and advice; most internet visitors, your potential customers, will make a decision to stay on your site or leave and never return within 3 seconds.

We hear more and more about Pay Per Click Advertising and essentially you don't have to be too smart to be on the top of a Search Engine like Google in their sponsored sites section. All you have to do is be the highest bid per click on key words and phrases and you will be on the top. BIG DEAL! First off you don't need to be on the top to be successful with Pay Per Click Advertising, second and third spots work just as well and in some cases better. The key here is that when you drive the online traffic to your site, what happens when they get there? Do you have your site updated with current information? Does your site allow for easy navigation? Does your site follow the 3 click rule and ensures that the visitor gets their information within 3 clicks from your landing page? Is your site easy to buy from online? Is your site Search Engine Optimize so you can move up the search engine organically and may then only need PPC for certain marketing campaigns, for example new product launches? I could go on with what your site needs to do and consistently but to properly execute on any of these ideas requires detailed web analytics. We know we can utilize free online reports like Google Analytics but do you know how to interpret the information into a sound online marketing strategy? Do you know how to use the reports to make business decisions? If the answer is no then you need a professional internet marketing consultant. Remember that when you have a visitor to your site who abandons your site within those 3 seconds that they in most cases never return to your web site.

Get smart and at a minimum, keep your contact and address information up to date or you stand to let your website abandons go to your competition. The decision to act or not act on the content and design of your website is yours, this decision could make or break you!

Sales Strategy Creates A Competitive Advantage

The following article; Sales Strategy Creates A Competitive Advantage by Darrell Zarhorsky found on About.com is a great follow up to my post: Stop The Cold Calling Sweats.

He suggests the strategy that starts by identifying a segment of your target market and then searches out an industry problem. Once the problem is identified you create a solution that is not offered by your competition. This becomes your Unique Selling Proposition.

This makes calling for appointments with prospects and existing clients much easier as you have a solution to their problem.

American Airlines Moves 200,000 People Per Day

I wanted to bring to the forefront again QR Codes or Qcodes (Mobile Picture Phone Readers) and encourage you to read the comments to my post; North American Marketers Are Xenophobic which speaks further to how this technology is entering the North American Market and starting with the Airline Industry is going to make checking in and getting an airline ticket much more easy and convenient. It appears there is a battle ensuing on which technology is better today and for the future. It comes down to which technology reads better on the picture phones and, with the HP Steered MC2 Consortium working toward creating a standard for the mobile phone industry, if your reader is not the standard you stand to lose billions of dollars in future sales.

Just imagine how quickly this will grow in North America when airlines adopt this technology built into mobile picture phones. American Airlines advertises now they move 200,000 people per day on their flights. Multiply this number by the number of Major Airlines and 365 days in a year and you start to see how fast the end user will adopt this method of phone reader for convenience of checking in and getting a flight ticket. Roll this out to hotels and the tourism industry and it is mind boggling how fast this can and will grow.

Is your business ready for this new technology?

Lawyers Profit From Our Due Dilligence

I spoke yesterday about my friend starting a new business and seeking out my business experience advice and decided today that I want to add to that post with a typical entrepreneurial story regarding legal advice and their age old question; To use a lawyer or to not use a lawyer?

When we start a new small business we generally have most of our financial resources already in the business. Therefore, when trivial details like business contracts need to be signed a lawyers opinion and advice is generally sacrificed. I have signed many multi-million dollar contracts over the years and live by the opinion that every contract can be broken, it's just a matter of weighing the risks against the benefits as well as the level of probability (high or low) if and what damages would be incurred under various scenarios. So seeking out a legal opinion isn't something I would do in all cases. However, if you see high risk and many pitfalls in a contract then you must seek a third opinion and generally a lawyer is your best and safest bet. But remember that not all lawyers are experts in every aspect of business.

A lawyer (not all lawyers) will tell you yes I can help you with your contract evaluation and even negotiation but is really only interested in the hourly fee they can collect from you during the soon to be lengthy and protracted process. Your proper due diligence may become your lawyers next Goose that lays the Golden Eggs.

As is the case in most professions, the legal profession has specialists. Using a specialist in the evaluation of your business contract may save you money in the long run. Also, remember that theirs is a legal opinion and not necessarily a business opinion and should be only one of many opinions you receive. For example; you may have an opinion from your financial advisor, your accountant, your operations head, your sales department, etc. At some point the buck stops with you and you have to make a go or no go decision. And on occasion, it may be against the advice of your lawyer. That's just business. Anyway, back to how a specialist can save you money, a specialist who has seen similar contracts and clauses before can speak from experience and get right to the potential problem areas right away. They can also advise that the contract is a standard contract for this industry and advise of it's expressed and implied intent and then leave you to decide to go or no go on the execution of the agreement. An example of this is franchise agreements.

A typical franchisor - franchisee agreement is written to protect the franchisor. That is to say, to protect the existing franchisees and of course their investment. If you are considering a franchise then you want an agreement to be written this way. To protect you as a new franchisee. In fact, any franchisor who is prepared to re-write their agreement for you is really saying, no protection for you, we are only interested in your money. If you experience that kind of accommodating franchisor you should turn and run away as fast as you can. They are after your wallet and you are about to be mugged. In this franchise example, if you are speaking to a contract lawyer but not someone who specializes in franchise law then you will get a lawyer who will charge you by the hour to get the franchisor to re-write the agreement to be more fair to you and if the good franchisor is not prepared to re-write their agreement then you are just throwing your money to the lawyer in the form of a golden egg. A specialist in franchise law will recognize a standard franchise agreement, highlight the meaning of particular clauses to you and then generally say, it's a standard franchise agreement, do you want to do the business or not? If you do then sign the agreement. In this scenario, the legal specialist just saved you a great deal of money.

Don't let the lawyers profit from your due diligence.

Learn From The Seasoned Professional

I met with a friend and his business partner today who both started another new company earlier this year and who wanted to pick my brain to discover potential growing pain problems before they pounce on them and they are not prepared. This is a smart business practice for anyone considering getting into business and also while you continue to grow your business. This is called the 'Pile theory'. Look for the person with the biggest pile of money in your business sector or in business generally and then pick their brain on how they achieved their great success.

We sat for 2 hours discussing business mergers, acquisitions, licensing agreements and pay structures for new employees. They have a great opportunity and are on the verge of exploding in the next few months and certainly in their first year. The biggest piece of advice I gave them, beyond some specific answers to specific questions, was think big and grow big. They will be a $15 million business in the next 3 years and will also enjoy significant profit margins. The challenge is that if you are not prepared for this quick growth you may also experience a quick fall.

Think big and grow big suggests that you must strategize, plan, (which they have done and is still evolving), and then implement business policies and procedures around a unified business image. This requires a focused attention on your core competency and then communicated to all staff to be executed properly. You need to ask questions like; how do we want other business to see us? When someone asks; what do you think of those guys, that business, what response do you want from not only your customers but also your prospects? How do you want to treat your customers? Selling on price only or building long term relationships which creates customer loyalty? What benefit can you provide to your customers that they are NOT getting now from your competition? When you can answer all these questions then create a business mandate and mission statement to be promoted and communicated to your employees, your prospects, and your customers.

That's it for today, back to my move and unpacking boxes.