There is plenty of advice available for people who want to legally make money online. However most of it, unfortunately, is offered by people selling ridiculous get rich quick schemes, so called instant money makers or, even worse, scams. If anybody tells you that making money online is "effortless" or "quick" then alarm bells should be sounding for you. If you seriously want to legally make money online then you need to be prepared to put in the necessary work.
Nonetheless the rewards for getting it right are massive. Not just in terms of your income but, perhaps more importantly, in terms of the improvement in lifestyle that comes if you can work from home. Initially you may have to work harder to start your business but, once it has, you could work as little as 4 hours a day in return for a fantastic improvement in your quality of life.
So what are the 7 best ways to legally make money online. Each of the 7 steps outlined offer a basic introduction to the most effective ways generate an income for yourself and your family working with your PC from your own home. Each has the potential to provide anything from a little extra cash to a very healthy full time income. They are not presented in any order of preference and it should be noted that most successful internetpreneurs use most, if not all of these, techniques to legally make money online.
1. Affiliate Programs: - Fundamentally, if you act as an affiliate it means that you advertise others products in return for a commissions on any sales made by a customer who has arrived at the product via a link from your advertisement. This way to legally make money online is best achieved by a placing advertisements in the form of banners or contextual links on your website or blog. You will need to learn a little about web design or blogging. Once your site or blog is designed you can place your affiliate links on them and, if done correctly, will soon start earning some commission. You don't even need a website as you can use "landing pages" such as Hubpages or Squidoo lenses to advertise your affiliate products. Furthermore some products don't even require that you make a sale. They 'convert' (meaning pay commission) for you sending them possible customers which they can then promote to (often known as 'leads'). However the best commissions are invariably earned for referrals that result in direct sales.
You can find affiliate programs for products in many ways. Search engines, directories, forums and social networks are but a few of the places you could find affiliate programs but perhaps the best places to start are the affiliate networks such as ClickBank, Commission Junction or Linkshare. Affiliate payouts can be extremely high and it is not unusual for successful internetpreneurs to earn substantial incomes this way.
Sounds easy to legally make money online with affiliate programs then? But of course it is not that simple. It's totally useless having a great site or blog with high quality affiliate links if no one is looking for or visiting your links. No traffic equals no sales and wasted effort.
In order to succeed with affiliate programs you have to understand the marketing process. From 'keyword analysis' through 'product selection' to 'link building' a clear affective and powerful marketing strategy is essential if you are really going to legally make money online. It will take some time and effort to master marketing techniques but, with the help of some of the excellent affiliate training products that exist, there is no reason why you can't earn a fantastic online income with affiliate programs.
2.Information Products : - Information products are digital and therefore have minimal storage and delivery costs. Once designed and produced you overheads thereafter are extremely low and sales prices represent high percentage profits. Information products can be Ebooks, software, training videos or anything else you can download. There are many ways to sell and to market digital products from placing them on your own sites or blogs to marketing them on via your own affiliate program via affiliate networks such as ClickBank.
Many people think it's impossible for them to produce a product that anyone else would be interested in let alone want to buy. However everybody possesses knowledge that others want. For example I don't know how wire my house and am terrified to even try because I lack the knowledge required to do so. So whats my solution? I need to have the right information in order to learn how to wire my house. Needless to say I would be willing to pay to have that information. So if you are an electrician I would be willing to buy that information from you. If you then consider the massive scope of the Internet market place you can start to see how you can legally make money online selling information products based upon the knowledge you already have. No matter if your an electrician, a cook, a successful mum or even a bus driver you know something other would pay to find out.
You don't even need to be a writer, you can commission a ghost writer, or you can develop your own software or even produce your own instructional video. Do your research, read product reviews and look at other top selling products. Get this way to legally make money online right and the rewards can be very high.
3. Google Advertisement: - In the same way that you can place banners or contextual links for affiliate programs on your site, blog or landing page (well some of them anyway) you can also place 'Google AdWords' advertisements. Signing up for AdWords is very simple and is entirely free. Once you have set up your site or blog etc, and it has been accepted by Google, you can go ahead and design your AdWords ads. The advantage of these ads is that they will be automatically targeted to your sites content by Google. Each ad will offer a link to related products offered by people who use Pay Per Click advertising (PPC) on Google. In the same way that affiliate programs will pay out for successful conversions, Google will also split it's commission with you for the same. Whilst this is unlikely to be as lucrative a way to legally make money online as pure affiliate programs it is a valuable addition to any internetpreneurs income.
4.Online Store : - Ask most people what they think will be a good way to legally make money online and they invariably suggest some sort of shop or Internet trading site. Whilst selling physical products can earn you a fantastic income initial set up costs can be high and the chances are that you will be competing against some well established competitors. There are a number of automated store building solutions and "turn key" websites that mean you need to know little about web design or hosting etc in order to set your store up (though you will probably be far more likely to succeed if you do). Furthermore there are some excellent free order processing and inventory solutions such as PayPal that you can use for processing orders on your site once it is set up.
Unlike selling digital products you have to consider how you are going to store your stock, deliver to your customers etc. If you are intending to sell a broad range of products you need to secure a supplier. Buying wholesale may improve your profit margins but you need to be aware that the percentage markup is usually quite low on most products. Therefore you need a considerable volume of sales in order to make a good return on your investment.
Perhaps a better approach is to identify a 'niche market' and sell exclusively to that. Commercially speaking a niche can be said to be any smaller segment of a broader market. For example if the broader market is 'Car Products' then a niche market could be 'classic car parts'. However, you may find that this is too broad a market to compete in and so may consider an even more specific niche such as 'classic car tires' or 'classic car electrical components'. By identifying 'niche' markets in this way you will reduce the competition but your market will be smaller. The trick is to find a niche that is small enough to compete in but has sufficient demand for you to legally make money online.
There are plenty of wholesale directories on the Internet that offer access to products at cheap wholesale prices. Unfortunately this is a sector of the market that attracts some real scam artists so you need to be very careful about "paying for information" as many so called wholesale directories are simply lists of links to wholesalers (many of which turn out to be dead). Nonetheless, if you are careful, read plenty of reviews and ask others who they've found to be effective suppliers in your chosen "niche", you can find some excellent wholesale directories, find some good suppliers and legally make money online by reselling the products to the customer via your online shop.
However, it's little use finding a great niche product line and building your website store unless you can attract customers. In order to do so you will need to successfully market your store and products just as you would with affiliate or digital products. Once again an effective marketing strategy is central to your success.
5. Auction Sites: - Chances are that most of us have either sold or bought something off an auction site, such as eBay, at some time or another. If you do want to legally make money online then selling your own product or reselling for others through an auction site can be highly rewarding. Many of the top eBay traders (the 'powersellers') are full time and , if you want to know how to make money this way, then simply check out some of their eBay stores and products in order to get an idea of what is achievable.
However selling through an auction site introduces further set up costs which need to be carefully considered as part of your business plan. It's important to carefully read their fee structure and listing policies before attempting to sell your products through them. Remember your profit margin per item may be reduced but the volume of sales you can expect could be greatly increased due to the customer base and brand loyalty that sites like eBay already have.
Many of the more successful sellers combine their Auction site stores and trade with their other online stores. By combining you efforts in this way you gain an increased exposure for your products by 'cross promoting'. Again it will be important to to identify a niche market for your goods on the auction sites and the same marketing methods need to be used in order to gain custom.
6. Membership Sites: - As we've already discussed if you have specialist knowledge or expertise, or if you offer a unique niche product or service then you can probably legally make money online selling that information or expertise. A membership site charges a recurring 'subscription fee' to those members who wish to join. The successful ones offer their members access to specialist niche products and information that is difficult to find elsewhere and has continued value.
For example let's assume that you you are an expert (or know someone who is) on dog training and breeding. You could create a subscription site that offers member access to all the latest dog training products and breeder lists. You could create an exclusive community with access to forums; offer dog training videos; breeding lists and instructional products. For those people who are avid dog trainers and breeders such a site would have great value and the chances are that they would be happy to pay a modest monthly subscription to be a member.
Marketed correctly (there we go again) membership sites can be an extremely profitable way to legally make money online. Of course whilst you are building you list of members you are also developing a valuable list of people who are interested in your chosen niche market. These people may well be interested in other niche related products you have to offer.
7. Newsletters and Ezines: - If you seriously want to legally make money online then there is an idiom of marketing you should always bear in mind. The saying the 'money is in the list' is central to marketing. If you build a large list of subscribers, that you can regularly send offers and promotions to, your business will soon grow. The people on the list represent your best and most valued customers because they have already shown a predisposition towards what you have to offer by opting in to your list in the first place . Once they have given you their email detail you can begin to circulate your Ezine or newsletter. Your Ezine needs to continually bring your customers high quality content and offers or they will soon lose interest. However, providing that you do, you will also be able to market your own products and affiliate products to your list members.
Conclusion: - Each of the 7 methods introduced here offer the opportunity for you to legally make money online and each has the potential to provide you a substantial income. These approaches are by no means intended to represent an exhaustive list of methods. The Internet is a dynamic and rapidly developing market place and the best online businesses are able to rapidly adapt to these changes.
Inevitable all of us are better at some things than others and most successful internetpreneurs specialise in certain aspects of online business. For example some are practically full time affiliate marketers whilst others predominantly operate online stores and auction trade. Generally speaking most are successful because they combine many, if not all the, the methods outlined here as part of their business plan.
However all have one thing in common, they understand how to market. Building stores and excellent web sites with valuable content is part of the way to earn online but without customers (traffic) you can not succeed. Therefore it's essential that you spend some time researching Internet marketing techniques and strategies. The best plan is to find someone that's successful and learn as much from them as possible. Keep learning until you feel confident that you understand the basic marketing principles. Test your theories and look for profitable markets and niche products that offer you high profit potential.
Thoroughly research and plan you marketing strategy and, whatever method you favour, you will be able to legally make money online.
Showing posts with label Business and Finance. Show all posts
Showing posts with label Business and Finance. Show all posts
19.1.09
Leverage Your Way To Success
Over the years, I've seen companies come and go. I've seen opportunities start and then abruptly end. I've seen people enjoy massive success, and then suddenly fail.
On the other hand, I've seen companies start and thrive. I've seen people succeed and remain that way until today.
The difference?
The ones who were successful over the ones that weren't had several things in common. For example, they had a good marketing plan, a good product or service, and a loyal customer base.
However, they also implemented one more crucial element: Leverage.
They gave the average Joe the opportunity to join and, through the power of duplication, be able to leverage his income based on the efforts of others.
So, what exactly is Leverage?
Let me illustrate it like this...
Imagine you join an opportunity that cost you $500 go get in.
The company pays you $400 and then keeps $100 out of each fee.
Let's suppose the structure is based on a 1-up compensation plan, which means that the first person you find and joins you will pass up his payment to your sponsor.
So you lose the first person to your sponsor, which is called a qualifying sale.
At this point, you're qualified and can now start receiving commission payments.
The next person you enroll pays YOU the $400 and then pays the company $100.
Here's where leverage starts...
Let's say that through your promotions, you generate 5 enrollments.
Your first one went up to your sponsor, but the next four sent you $400 each.
Now, each of those four start promoting because they too want to earn money.
Well, since this is a 1-up comp plan, when they each find their first person, that person will automatically be given to you... along with their $400 payment!
So as you can see, it can get really lucrative very fast.
Leverage is a financial principle that the wealthy have been using for decades. Isn't it time you started implementing it for your own gain?
Most network marketing companies use a compensation plan that allows you to get paid on the efforts of other.
Find one you're comfortable with and work it hard for the first year. If you play your cards right, you may end up earning a respectable six figure income in your opportunity.
On the other hand, I've seen companies start and thrive. I've seen people succeed and remain that way until today.
The difference?
The ones who were successful over the ones that weren't had several things in common. For example, they had a good marketing plan, a good product or service, and a loyal customer base.
However, they also implemented one more crucial element: Leverage.
They gave the average Joe the opportunity to join and, through the power of duplication, be able to leverage his income based on the efforts of others.
So, what exactly is Leverage?
Let me illustrate it like this...
Imagine you join an opportunity that cost you $500 go get in.
The company pays you $400 and then keeps $100 out of each fee.
Let's suppose the structure is based on a 1-up compensation plan, which means that the first person you find and joins you will pass up his payment to your sponsor.
So you lose the first person to your sponsor, which is called a qualifying sale.
At this point, you're qualified and can now start receiving commission payments.
The next person you enroll pays YOU the $400 and then pays the company $100.
Here's where leverage starts...
Let's say that through your promotions, you generate 5 enrollments.
Your first one went up to your sponsor, but the next four sent you $400 each.
Now, each of those four start promoting because they too want to earn money.
Well, since this is a 1-up comp plan, when they each find their first person, that person will automatically be given to you... along with their $400 payment!
So as you can see, it can get really lucrative very fast.
Leverage is a financial principle that the wealthy have been using for decades. Isn't it time you started implementing it for your own gain?
Most network marketing companies use a compensation plan that allows you to get paid on the efforts of other.
Find one you're comfortable with and work it hard for the first year. If you play your cards right, you may end up earning a respectable six figure income in your opportunity.
Work from Home Jobs: Why Employees and Employers Like Telecommuting
Those who want to hang up their business suits and park the commuter car in the garage permanently can take heart. Work from home jobs have increased exponentially in the last decade. Thousands are giving up the rat-race for a five-second commute from the breakfast nook to the home office. By 9 a.m., most workers have fought an hour of traffic to arrive at the office. In contrast, the telecommuter already has completed at least an eighth of his workday.
Internet technology has allowed working from home to become a viable option for many Americans. In the time it takes to fire up your computer, you can be connected to your workplace's server. Instant chat makes communication between home and office quick and convenient. Personal digital assistants and other devices add to the convenience factor and even make it possible to work away from one's home office. Work from home jobs have replaced the office cubicle for several reasons. Employees like these jobs because:
*They allow for greater flexibility. Parents can schedule work around school activities and games. People with special health considerations need not worry about leaving work for doctor's appointments. Many telecommuters are able to choose their own schedule. This makes it easy for the night owl to work during his most productive hours. It also means that those who prefer to work on weekends rather than weekdays can do so.
*The commute is eliminated. Work from home jobs are undeniably greener. Fewer daily commuters on the road equals a big reduction in carbon emissions annually.
*Work from home jobs save employees money. Not only do they spend less on gasoline, they save money on clothing, too. Business suits aren't cheap. Employees who don't have to worry about a wardrobe save hundreds, sometimes thousands, more dollars of yearly income.
*They tend to encourage better productivity. Most individuals who work from home claim they get more done. This is probably because they aren't distracted by the noise and disruptions found in most offices.
Employees aren't the only ones who like work from home jobs. Employers like them, too. This is probably why there are so many more than there were a decade ago. Employers appreciate:
*The ability to recruit and retain good employees. Employers know that workers who have the option to work from home will be more loyal. This is reflected in lower turnover rates and savings in training costs.
*The satisfaction of reducing their company's carbon footprint. With so much focus today on becoming greener, companies are taking social responsibility seriously. Employers who grant work-from-home jobs keep drivers off the roads. This reduces greenhouse gas emissions. It may even be a selling point which helps to boost profits.
*The cost efficiency. With more employees working from home, less office space needs to be maintained. This can save money in many areas, including the cost of leasing space, janitorial expenses, electricity and more.
*The increased productivity. Employers recognize that staff members who work from home tend to be more productive. Better productivity means higher profits for the company.
Some companies allow staff members to work entirely from home. Others combine telecommuting with one or more days of office time. Either way, work from home jobs are advantageous for both employers and employees.
Internet technology has allowed working from home to become a viable option for many Americans. In the time it takes to fire up your computer, you can be connected to your workplace's server. Instant chat makes communication between home and office quick and convenient. Personal digital assistants and other devices add to the convenience factor and even make it possible to work away from one's home office. Work from home jobs have replaced the office cubicle for several reasons. Employees like these jobs because:
*They allow for greater flexibility. Parents can schedule work around school activities and games. People with special health considerations need not worry about leaving work for doctor's appointments. Many telecommuters are able to choose their own schedule. This makes it easy for the night owl to work during his most productive hours. It also means that those who prefer to work on weekends rather than weekdays can do so.
*The commute is eliminated. Work from home jobs are undeniably greener. Fewer daily commuters on the road equals a big reduction in carbon emissions annually.
*Work from home jobs save employees money. Not only do they spend less on gasoline, they save money on clothing, too. Business suits aren't cheap. Employees who don't have to worry about a wardrobe save hundreds, sometimes thousands, more dollars of yearly income.
*They tend to encourage better productivity. Most individuals who work from home claim they get more done. This is probably because they aren't distracted by the noise and disruptions found in most offices.
Employees aren't the only ones who like work from home jobs. Employers like them, too. This is probably why there are so many more than there were a decade ago. Employers appreciate:
*The ability to recruit and retain good employees. Employers know that workers who have the option to work from home will be more loyal. This is reflected in lower turnover rates and savings in training costs.
*The satisfaction of reducing their company's carbon footprint. With so much focus today on becoming greener, companies are taking social responsibility seriously. Employers who grant work-from-home jobs keep drivers off the roads. This reduces greenhouse gas emissions. It may even be a selling point which helps to boost profits.
*The cost efficiency. With more employees working from home, less office space needs to be maintained. This can save money in many areas, including the cost of leasing space, janitorial expenses, electricity and more.
*The increased productivity. Employers recognize that staff members who work from home tend to be more productive. Better productivity means higher profits for the company.
Some companies allow staff members to work entirely from home. Others combine telecommuting with one or more days of office time. Either way, work from home jobs are advantageous for both employers and employees.
Give Your Web Business a Boost with Internet Sales Conversion Software by Chris Robertson
The Web has grown in leaps and bounds over the past decade, and there are thousands of businesses online - each vying for the attention of its target customers. But one challenge many online business owners face is being able to convert visitors into paying customers.
Web surfers are bombarded with information, images and sales offers at almost every click of the mouse. One offer may seem as good as the next. And with so many competitors online in certain fields, it's no wonder that converting Internet viewers can be difficult. But the good news is you can use Internet sales conversion software to increase your chances for making a sale each time a person visits your website.
Internet software can do wonders for your website by making it more functional and visitor friendly. Sales conversion software also enables you to fasten your efforts on your visitors' needs and keep them focused on your presentations and/or products while browsing your website. Your visitors are probably searching for something specific, whether it is information or a type of service or product.
When visitors arrive at your website, you should have well-written headlines to grab your target audience and then lead them through your pages, not away from your pages. Internet sales conversion software can enable you to lead them instead of pushing them into the grips of another savvy marketer.
Internet Software Features that Matter
There are some key features to look for when buying sales software. One is the capability to enlarge your product photos without opening a new browser window. With this feature, visitors can click on a smaller thumbnail image of your product to enlarge it. Instead of being taken to a new browser page, the image appears right there on the screen with the background page (original) still showing, but in a faded-out image behind the larger image. This prevents the visitor from browsing away from the product or presentation, and also helps prevent confusion for beginning Web surfers. It also creates a professional image for your online company.
Another feature to consider is the ability to create tutorials or slideshows within your site without sending the visitor through a lot of loops to get there. Some Internet sales conversion software enables you to create a continuous tutorial using a function similar to the photo enlargement feature mentioned above. The visitor never leaves the original page, but is able to click "forward" and "back" buttons or arrows to navigate the tutorial. When finished, the visitor can simply close the tutorial to return to the original page. This also works well for slideshows when used to depict product features and examples.
You can also use online marketing software to create videos. Video is a powerful tool in online sales conversion because it personalizes your website and helps your visitors to better relate to what you're offering. Not to mention...some people hate to read long presentations. Video makes the perfect substitute if they'd rather listen and watch than read!
Of course, there are many other possible features for sales conversion software to enhance your sales. Your main goal should be to keep your visitors in your website as long as possible or until you make a sale. Create ways for visitors to view all your presentations without navigating away from your main sales page.
You can buy and install Internet marketing software online at low cost, but the long-term value of its features can be tremendous. Look for online marketing solutions that fit your needs and budget, and start enjoying a greater sales conversion rate!
Web surfers are bombarded with information, images and sales offers at almost every click of the mouse. One offer may seem as good as the next. And with so many competitors online in certain fields, it's no wonder that converting Internet viewers can be difficult. But the good news is you can use Internet sales conversion software to increase your chances for making a sale each time a person visits your website.
Internet software can do wonders for your website by making it more functional and visitor friendly. Sales conversion software also enables you to fasten your efforts on your visitors' needs and keep them focused on your presentations and/or products while browsing your website. Your visitors are probably searching for something specific, whether it is information or a type of service or product.
When visitors arrive at your website, you should have well-written headlines to grab your target audience and then lead them through your pages, not away from your pages. Internet sales conversion software can enable you to lead them instead of pushing them into the grips of another savvy marketer.
Internet Software Features that Matter
There are some key features to look for when buying sales software. One is the capability to enlarge your product photos without opening a new browser window. With this feature, visitors can click on a smaller thumbnail image of your product to enlarge it. Instead of being taken to a new browser page, the image appears right there on the screen with the background page (original) still showing, but in a faded-out image behind the larger image. This prevents the visitor from browsing away from the product or presentation, and also helps prevent confusion for beginning Web surfers. It also creates a professional image for your online company.
Another feature to consider is the ability to create tutorials or slideshows within your site without sending the visitor through a lot of loops to get there. Some Internet sales conversion software enables you to create a continuous tutorial using a function similar to the photo enlargement feature mentioned above. The visitor never leaves the original page, but is able to click "forward" and "back" buttons or arrows to navigate the tutorial. When finished, the visitor can simply close the tutorial to return to the original page. This also works well for slideshows when used to depict product features and examples.
You can also use online marketing software to create videos. Video is a powerful tool in online sales conversion because it personalizes your website and helps your visitors to better relate to what you're offering. Not to mention...some people hate to read long presentations. Video makes the perfect substitute if they'd rather listen and watch than read!
Of course, there are many other possible features for sales conversion software to enhance your sales. Your main goal should be to keep your visitors in your website as long as possible or until you make a sale. Create ways for visitors to view all your presentations without navigating away from your main sales page.
You can buy and install Internet marketing software online at low cost, but the long-term value of its features can be tremendous. Look for online marketing solutions that fit your needs and budget, and start enjoying a greater sales conversion rate!
Big Business With Wholesale Greeting Cards by Victor Epand
Make no mistake about it, wholesale greeting cards are big, big business. In fact, there are hundreds of suppliers across the United States and around the world that offer wholesale greeting cards for all different occasions.
Whether you are seeking a complete line of cards for a retail store, a large number of cards that will be resold to raise funds for a non profit organization, or you just want to buy a few cards at low prices, one of the many suppliers in this business should be able to help you. Among the types of cards listed in their catalogs or at the web sites of wholesale greeting cards merchants are birthday, religious, romantic, Christmas, get well, congratulations, graduation, and blank cards, to name just a few.
With just about every holiday and special occasion covered, it would be wise to ask about special prices and special packages that might be especially attractive just before the holiday or occasion. Some wholesale greeting cards suppliers have been offering their product for many years, even decades. This longevity has allowed some companies to build a solid clientele, primarily from repeat customers.
While it appears that a majority of wholesale greeting cards are sold through retail stores in the United States, which are affiliated with retail outlets or their own retail shops make their cards available to the individual customer, some companies offer their complete range of wholesale greeting cards to more than resellers who file sales tax and business license information. Take a little time to find some of the discount greeting cards merchants who are more than happy to work with the individual.
Some wholesale greeting cards suppliers have massive warehouses covering thousands of square feet, which allows them to keep an inventory of nearly every card imaginable, covering all types of different occasions. Original art and text are quite important when it comes to the value of the cards, so these larger companies generally have knowledgeable staff members who spend much of their time searching for the most attractive and desirable cards.
In addition, most wholesale greeting card merchants work hard to maintain their focus on treating each client as an individual, even the largest wholesaler dealing with the largest retailer. Company representatives try to ensure that the card assortment fits well for the retail location and its customers. One of the more interesting niches of the wholesale greeting cards business is the humor card or funny card. Again, make no mistake about it, this is serious business.
Wholesale greeting cards suppliers, in conjunction with retail stores, book stores, gift shops, and other sites have built a profitable business in humorous cards over the years. So, no matter what your motivation is, there are great possibilities in the wholesale greeting cards business, for the wholesale merchant, retail business, or end user. Those who buy in true wholesale style to stock a retail shop can some times get the best prices when they are ordering as few as twenty or thirty cards. In fact, many companies will also offer free shipping with any order that meets minimum standards.
Whether you are seeking a complete line of cards for a retail store, a large number of cards that will be resold to raise funds for a non profit organization, or you just want to buy a few cards at low prices, one of the many suppliers in this business should be able to help you. Among the types of cards listed in their catalogs or at the web sites of wholesale greeting cards merchants are birthday, religious, romantic, Christmas, get well, congratulations, graduation, and blank cards, to name just a few.
With just about every holiday and special occasion covered, it would be wise to ask about special prices and special packages that might be especially attractive just before the holiday or occasion. Some wholesale greeting cards suppliers have been offering their product for many years, even decades. This longevity has allowed some companies to build a solid clientele, primarily from repeat customers.
While it appears that a majority of wholesale greeting cards are sold through retail stores in the United States, which are affiliated with retail outlets or their own retail shops make their cards available to the individual customer, some companies offer their complete range of wholesale greeting cards to more than resellers who file sales tax and business license information. Take a little time to find some of the discount greeting cards merchants who are more than happy to work with the individual.
Some wholesale greeting cards suppliers have massive warehouses covering thousands of square feet, which allows them to keep an inventory of nearly every card imaginable, covering all types of different occasions. Original art and text are quite important when it comes to the value of the cards, so these larger companies generally have knowledgeable staff members who spend much of their time searching for the most attractive and desirable cards.
In addition, most wholesale greeting card merchants work hard to maintain their focus on treating each client as an individual, even the largest wholesaler dealing with the largest retailer. Company representatives try to ensure that the card assortment fits well for the retail location and its customers. One of the more interesting niches of the wholesale greeting cards business is the humor card or funny card. Again, make no mistake about it, this is serious business.
Wholesale greeting cards suppliers, in conjunction with retail stores, book stores, gift shops, and other sites have built a profitable business in humorous cards over the years. So, no matter what your motivation is, there are great possibilities in the wholesale greeting cards business, for the wholesale merchant, retail business, or end user. Those who buy in true wholesale style to stock a retail shop can some times get the best prices when they are ordering as few as twenty or thirty cards. In fact, many companies will also offer free shipping with any order that meets minimum standards.
28.10.08
5 Strategies for Selling in a Tough Market
1. Believe you can and stay positive!
One of the problems with all of this talk about recession is that once people believe there is going to be a recession they start to feel negative about their business prospects and only tend to see what they believe rather than believing what they see. Once you believe that there is going to be a recession you tend to only notice articles, comments and statistics that support your beliefs.
What's more, your negative beliefs quickly affect your outlook and the way that you feel about your business prospects.
If you thought 2008 was going to be a great year for business, your best year yet; how would you feel?
Conversely, if you thought 2008 was going to see a major recession and that it was going to hit you and your business hard; how would you feel?
Mighty different huh? And remember, nothing's changed here other than your belief. Having a positive and supportive belief structure is essential if you want to succeed in any market but it is vitally essential if you want to keep on selling in a tough one.
Having a winning belief system does not mean that you need to be deluded however! In the middle of the darkest recession you don't want to have your eyes shut! But you have to understand that in a downturn clients want to partner with the best companies. Suppliers that they can rely on. Suppliers that support them. Suppliers who are going to be around tomorrow. And if your competitors struggle, that means more sales and more business for you.
2. Get proactive
You need to be more proactive. Much more proactive. You need to do more marketing and more selling. You need to attend more events and do more networking. You need to do more promotion and more canvassing. You need to increase your sales activities, maybe dramatically.
In a recession many companies cut their sales activites. They figure, "If we're not going to sell anything, what's the point?" Many individual salespeople do this too.
Cut your activity, cut your sales. You're a living, breathing, self-fulfilling prophecy! You believe there is not much business out there, so you feel negative. That in turn affects your activity and your activity destroys your sales results.
Even if there is not as much business out there, then you need to be more active, more focused and more targeted. If your competitors are easing off a little, now is the time to up the anti and grab your share of the market. Even if there is a blip, you will be strongly placed when activity picks up.
One of my friends went down to our local estate agent this week to put his house on the market. He was told that maybe he should wait as he might not get the price he wants right now. They told him the market was quiet and that might not be able to sell the house at all. Better to wait for the market to pick up. I walked past their offices later on that day. They were all sitting, chatting and drinking coffee. They were probably moaning about what a bad year it's going to be. If I's have been in that office, I'd have taken my mates house on and I'd have been on the phone drumming up some viewings. 50 calls, 100, calls, 500 calls... Whatever it takes. I'd have found someone.
Talk about killing your own market! If you see less business then you need to do more sales and marketing, not less. That's common sense.
3. Sharpen your sales skills
If a workman needs a spade and a farmer needs a horse; a boxer needs a defence and a chef needs a recipe; what do salespeople need? The answer's obvious - it's sales skills.
Most salespeople do not spend enough time working on improving their sales skills and techniques. Sales training and development is not something that many salespeople spend their time on out of choice. Perhaps they can get away with this in a booming marrket when sales are easy. Perhaps not. But things will always change if the market tightens. Sales success will go to the salesperson who really understands why people buy and can help people make the right business decisions. Salespeople of this calibre stand to benefit from possible changes ahead because there will be more business for them as their competition falls by the wayside.
Sales will not go to the journeyman salesperson, the mediocre wannabee or the 9-5 order taker. Salespeople like these could well be in for a rough time.
When did you last read a sales training book on selling? How many sales training audios have you listened to over the last month? How many sales training seminars have you atteneded in the last 6 months? For 80% of salespeople reading this, the answer is zero.
4. Improve your service and focus on relationships
As I write this many companies will be working out how to cut corners. They will try to save money by tinkering with their business offerings. They will try and eek extra profits out of their clients by cutting the bells and whistles from their offerings. This is not a good idea. A Swiss cow with no bells is just a cow and no-one would send postcards of them home!
If business is tight you want to be wowing your clients with the best service that they have ever had, from you or from any of your competitors. You need to be going the extra mile. If a recession bites many companies will try and discount to survive. They probably won't (survive), but you don't want your clients going to them as they try to keep their heads above water! You need to "lock in" your existing clients now so that they won't even think about going anywhere else.
Spend time with your clients. Build stronger relationships with your clients. Make sure you truly understand them, their concerns and their businesses. Find ways to help them and add value over and above what they could have ever expected.
5. Leverage your efforts
In a soft market many salespeople only chase the easy stuff. They don't chase the tough stuff. They're doing ok, they don't have to. They're making sales right?
Wrong.
Most salespeople have all sorts of opportunities which they squander every day and every month because there are seemingly easier things that they can be doing. This is particularly true in an industry or a company where leads have been relatively easy to come by, where sales targets are relatively soft (I could tell you which industries but I'm not going to) or where salespeople are overpaid so don't crave the business (again, I'll keep this to myself!).
In a tough market you must leverage all of your efforts. This is basic sales 101 and should be stuff that you do every day anyway... Here are just a few ideas.
Always ask for referrals. Referrals are great business but most salespeople do not ask for them because clients often say no. Learn how to ask for a referral properly and then build asking for a referral into your sales process and ask for one every time.
Upsell and cross-sell. Whether though laziness, lack of knowledge or lack of ability many salespeople sit on accounts where there is so much more business than they are currently leveraging. Extending your business with existing clients will not only make you more money, it will also strengthen your relationships with and value to them and their businesses.
Contact dormant accounts. Most companies have hundreds if not thousands of "dormant" accounts. There may be multiple reasons for this from changing business practises to fall-outs with the client. Dormant clients may well be redeemable and may have been "lost" purely because someone forgot to ring them or a salesperson moved on. Get in touch with them!
Follow up on all leads. I recently contacted 5 health insurance companies over the web. Only one replied. You should not be burning leads like this in any market. Follow up on all leads professionally using a proven sales system like the ones I teach in my sales training seminars and programmes and you will close more business. New business is the lifeblood of any business in any market.
So there we are, 5 tips to help you to sell in a recssion. This year may well prove to be an interesting year for some businesses and individuals. Some of this will be down to the market itself. Much of it will be down to you and how you react and respond to what might be a challenging year.
One of the problems with all of this talk about recession is that once people believe there is going to be a recession they start to feel negative about their business prospects and only tend to see what they believe rather than believing what they see. Once you believe that there is going to be a recession you tend to only notice articles, comments and statistics that support your beliefs.
What's more, your negative beliefs quickly affect your outlook and the way that you feel about your business prospects.
If you thought 2008 was going to be a great year for business, your best year yet; how would you feel?
Conversely, if you thought 2008 was going to see a major recession and that it was going to hit you and your business hard; how would you feel?
Mighty different huh? And remember, nothing's changed here other than your belief. Having a positive and supportive belief structure is essential if you want to succeed in any market but it is vitally essential if you want to keep on selling in a tough one.
Having a winning belief system does not mean that you need to be deluded however! In the middle of the darkest recession you don't want to have your eyes shut! But you have to understand that in a downturn clients want to partner with the best companies. Suppliers that they can rely on. Suppliers that support them. Suppliers who are going to be around tomorrow. And if your competitors struggle, that means more sales and more business for you.
2. Get proactive
You need to be more proactive. Much more proactive. You need to do more marketing and more selling. You need to attend more events and do more networking. You need to do more promotion and more canvassing. You need to increase your sales activities, maybe dramatically.
In a recession many companies cut their sales activites. They figure, "If we're not going to sell anything, what's the point?" Many individual salespeople do this too.
Cut your activity, cut your sales. You're a living, breathing, self-fulfilling prophecy! You believe there is not much business out there, so you feel negative. That in turn affects your activity and your activity destroys your sales results.
Even if there is not as much business out there, then you need to be more active, more focused and more targeted. If your competitors are easing off a little, now is the time to up the anti and grab your share of the market. Even if there is a blip, you will be strongly placed when activity picks up.
One of my friends went down to our local estate agent this week to put his house on the market. He was told that maybe he should wait as he might not get the price he wants right now. They told him the market was quiet and that might not be able to sell the house at all. Better to wait for the market to pick up. I walked past their offices later on that day. They were all sitting, chatting and drinking coffee. They were probably moaning about what a bad year it's going to be. If I's have been in that office, I'd have taken my mates house on and I'd have been on the phone drumming up some viewings. 50 calls, 100, calls, 500 calls... Whatever it takes. I'd have found someone.
Talk about killing your own market! If you see less business then you need to do more sales and marketing, not less. That's common sense.
3. Sharpen your sales skills
If a workman needs a spade and a farmer needs a horse; a boxer needs a defence and a chef needs a recipe; what do salespeople need? The answer's obvious - it's sales skills.
Most salespeople do not spend enough time working on improving their sales skills and techniques. Sales training and development is not something that many salespeople spend their time on out of choice. Perhaps they can get away with this in a booming marrket when sales are easy. Perhaps not. But things will always change if the market tightens. Sales success will go to the salesperson who really understands why people buy and can help people make the right business decisions. Salespeople of this calibre stand to benefit from possible changes ahead because there will be more business for them as their competition falls by the wayside.
Sales will not go to the journeyman salesperson, the mediocre wannabee or the 9-5 order taker. Salespeople like these could well be in for a rough time.
When did you last read a sales training book on selling? How many sales training audios have you listened to over the last month? How many sales training seminars have you atteneded in the last 6 months? For 80% of salespeople reading this, the answer is zero.
4. Improve your service and focus on relationships
As I write this many companies will be working out how to cut corners. They will try to save money by tinkering with their business offerings. They will try and eek extra profits out of their clients by cutting the bells and whistles from their offerings. This is not a good idea. A Swiss cow with no bells is just a cow and no-one would send postcards of them home!
If business is tight you want to be wowing your clients with the best service that they have ever had, from you or from any of your competitors. You need to be going the extra mile. If a recession bites many companies will try and discount to survive. They probably won't (survive), but you don't want your clients going to them as they try to keep their heads above water! You need to "lock in" your existing clients now so that they won't even think about going anywhere else.
Spend time with your clients. Build stronger relationships with your clients. Make sure you truly understand them, their concerns and their businesses. Find ways to help them and add value over and above what they could have ever expected.
5. Leverage your efforts
In a soft market many salespeople only chase the easy stuff. They don't chase the tough stuff. They're doing ok, they don't have to. They're making sales right?
Wrong.
Most salespeople have all sorts of opportunities which they squander every day and every month because there are seemingly easier things that they can be doing. This is particularly true in an industry or a company where leads have been relatively easy to come by, where sales targets are relatively soft (I could tell you which industries but I'm not going to) or where salespeople are overpaid so don't crave the business (again, I'll keep this to myself!).
In a tough market you must leverage all of your efforts. This is basic sales 101 and should be stuff that you do every day anyway... Here are just a few ideas.
Always ask for referrals. Referrals are great business but most salespeople do not ask for them because clients often say no. Learn how to ask for a referral properly and then build asking for a referral into your sales process and ask for one every time.
Upsell and cross-sell. Whether though laziness, lack of knowledge or lack of ability many salespeople sit on accounts where there is so much more business than they are currently leveraging. Extending your business with existing clients will not only make you more money, it will also strengthen your relationships with and value to them and their businesses.
Contact dormant accounts. Most companies have hundreds if not thousands of "dormant" accounts. There may be multiple reasons for this from changing business practises to fall-outs with the client. Dormant clients may well be redeemable and may have been "lost" purely because someone forgot to ring them or a salesperson moved on. Get in touch with them!
Follow up on all leads. I recently contacted 5 health insurance companies over the web. Only one replied. You should not be burning leads like this in any market. Follow up on all leads professionally using a proven sales system like the ones I teach in my sales training seminars and programmes and you will close more business. New business is the lifeblood of any business in any market.
So there we are, 5 tips to help you to sell in a recssion. This year may well prove to be an interesting year for some businesses and individuals. Some of this will be down to the market itself. Much of it will be down to you and how you react and respond to what might be a challenging year.
Seven Service Principles Guaranteed To Create Raving Fans
“There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.”
Sam Walton, Founder of Wal-Mart
Sam Walton lived a life which displayed everything he believed in. Over the years, especially since Wal-Mart became a publicly traded company on the stock market, Sam’s vision and philosophy have slowly been forgotten. Although Wal-Mart may not offer the greatest customer service today, Sam’s words on the importance of customers to any business are timeless.
If business was to be compared to a car, customers would be the fuel. No fuel and the car cannot go anywhere. No customers and the business cannot go anywhere.
All businesses have some kind of customers. The philosophy behind the content in this article is just as applicable to personal relationships as it is to customer service in business. Although we are conditioned to believe our personal relationships are different from business relationships, in the end it is all the same; how you deal with people. Whether it is in your personal life or business, the principles shared in this article will benefit anyone who is willing to apply them in their situation.
Some have other businesses as customers, other have the general public as their customers. There are also internal customers and external customers. Internal customers are employees and external customers are those who your employees deal with. Keep your internal customers happy and they will naturally be compelled to do everything they can to keep your external customers happy.
This article deals with external customers and seven proven customer service principles which are guaranteed to create raving fans. Raving fans are customers who are so enthusiastic about doing business with your company that they become walking, talking billboards advertising and raving about your products and services to anyone in need of them.
The essence of creating raving fans out of your customers lies in going back to the basics. That’s right, simple strategies which are timeless and guaranteed to create astonishing results.
Also, it is crucial to realize that all successful businesses offer massive value to their customers. Creating products and services which efficiently and innovatively solve problems adds tremendous value to a person or business. This same value is what gets turned into an equivalent amount of profit.
Here are seven proven customer service principles guaranteed to turn the customers you have now and those to come in the time ahead into raving fans. This will naturally create an upward spiral of growth for your business since these very customers will happily share their great experience with your organization with countless others.
Keeping your word is where it all begins
When you say you were going to do something, customers expect you will do it. Since it is the norm for companies to make promises and not keep them, any business which is adamant about keeping their commitments to their customers is warranted to stand apart from the herd. So next time you are telling one of your customers you will do something, make sure that you do it no matter what happens.
Keeping your word with the customers allows them to be able to trust you. Trust is the essential ingredient to any successful long term personal or professional relationship. It is the foundation upon which everything else is built upon. Not just in business, but in general in relationships in life.
Always be honest and tell it like it Is
Your customers are people just like yourself and have more common sense than most businesses are willing to admit. By being honest and telling your customers the truth, you are much more likely to get a positive response to any situation. Given the current technological dynamics of our existence, a customer or client can very easily interact with others and get to the bottom line quickly.
The Internet is and has been changing the way business is conducted around the world. If you say your pricing is the cheapest and customer service the best, it is only a matter of minutes before this can be verified by interacting with others in a global economy. A prospect can do five minutes of research on Google and find out if you are telling the truth or just blowing smoke.
Always think proactively, looking around the corner
Everything in life is a dual creation. What that means is first we create any idea, service, or product in our mind. Once that is done, we then create its physical manifestation in the physical world. Thus it is totally accurate to say that if we wish to change our physical reality, we must first change our mental reality.
Thinking proactively when it comes to customer service boils down to addressing concerns PRIOR to you having to hear from the customer that something needs to be done. A simple example is an Internet Service Provider informing their clients that a necessary upgrade to computer services infrastructure will temporarily disable Internet access on x day at x time. It is simply amazing how much thinking proactively can benefit the bottom line of any organization not just when it comes to customer services, but also business strategy in general.
Deal with problems as best you can yourself, never passing the buck
My greatest mentor once told me that he met a billionaire, that’s right, a billionaire, who shared with him that “until a person realizes problems are a normal state of affairs, they have not even begun to mature yet.” Whether you wish to admit or not, problems in life are just as much a part of reality as eating, breathing, and walking. A person can certainly structure their life in such a manner that they can minimize those problems; however when the problems do arise they must be dealt with.
The best way to deal with any problem is THROUGH IT. What that entails is when problems arise; you simply stop and evaluate what is happening. Based on your evaluation, the problem is then to be addressed according to a chosen plan.
When a customer calls or walks in with a problem, it is an absolute opportunity to solidify their trust in your organization and prove that they can count on you to get it fixed. The first step is simply clearing up the facts and getting to the bottom line of exactly what needs to be addressed. Once the problem is clearly understood, it can be eradicated. The more authority your employees have to address customer problems, the better it is since nothing upsets customers than being passed from department to department when dealing with a problem.
There is no point in arguing with a customer because it is a lose/lose situation
The best way to deal with an argument is to downplay its confrontational aspect and direct all energy and attention towards a solution. What can be done to make the customer feel happy and cared for.
A customer can totally be wrong; however most of the times they simply need education to better understand the situation at hand.
It is also very important to separate an objective argument from a personal attack. If a person is frustrated because a product or service has not lived up to its standard, it is essential for your company’s representative dealing with the customer realize that the customer is upset at the situation and not at them personally. Often arguments turn personal when the people involved had nothing in the creation of the problem being argued about to begin with.
Accept your mistakes, learn from them, and do not repeat them
My greatest mentor, who is a professional drag racer at heart, also shared with me that in professional drag racing “the one who makes the least mistakes wins.”
We all make mistakes. Some of us accept that we made a mistake, evaluate the situation, learn the lesson and move on, while others get stuck in a never-ending state of denial. “What did I do wrong? I am not responsible for it!” is a common theme in their life.
Acknowledgment always precedes resolution. When a company’s customer service representative is dealing with a situation where a mistake has been made by the company, the best thing which can be done is taking ownership of the issue at hand. The anger and emotion around any issue can be minimized by admitting fault and diverting all energy towards a resolution. Customers are normal people just like the rest of us and when they hear that a mistake was made, and that you apologize for it and focus on the solution, the energy balance shifts from being upset to feeling content that the issue at hand will be professionally addressed.
You may have heard before “when you lose, don’t lose the lesson.” There is always something to be learned from any situation in life. Your general attitude will determine how you look at life, which will bleed into any business you are a part of. With each mistake, it is essential to realize what went wrong, how it went wrong, and most importantly what can be done in the future to prevent the same situation from occurring.
Consistency is the name of the game for lasting success
If you do something once, great. If you do it twice, awesome. If you do it three times, brilliant. And if you do it over and over, consistently, congratulations my friend, if you happen to be doing things the right way, you are officially a success.
Repetition is a common theme for most of what we do in life. When the six customer service principles discussed above are practiced consistently, customers realize over time that the integrity of how you choose to run your business is unable to be compromised.
Always remember, people buy more so because they want to, than they need to (Why do you think the average family in the west has so much debt?). Similarly, customers do business with companies because they WANT to do business with.
If your customers truly believe that your company can be counted upon, not in times when everything is fine but in times where there are problems and challenges, they will choose to do business with you because they know that no matter what you will get the job done.
Sam Walton, Founder of Wal-Mart
Sam Walton lived a life which displayed everything he believed in. Over the years, especially since Wal-Mart became a publicly traded company on the stock market, Sam’s vision and philosophy have slowly been forgotten. Although Wal-Mart may not offer the greatest customer service today, Sam’s words on the importance of customers to any business are timeless.
If business was to be compared to a car, customers would be the fuel. No fuel and the car cannot go anywhere. No customers and the business cannot go anywhere.
All businesses have some kind of customers. The philosophy behind the content in this article is just as applicable to personal relationships as it is to customer service in business. Although we are conditioned to believe our personal relationships are different from business relationships, in the end it is all the same; how you deal with people. Whether it is in your personal life or business, the principles shared in this article will benefit anyone who is willing to apply them in their situation.
Some have other businesses as customers, other have the general public as their customers. There are also internal customers and external customers. Internal customers are employees and external customers are those who your employees deal with. Keep your internal customers happy and they will naturally be compelled to do everything they can to keep your external customers happy.
This article deals with external customers and seven proven customer service principles which are guaranteed to create raving fans. Raving fans are customers who are so enthusiastic about doing business with your company that they become walking, talking billboards advertising and raving about your products and services to anyone in need of them.
The essence of creating raving fans out of your customers lies in going back to the basics. That’s right, simple strategies which are timeless and guaranteed to create astonishing results.
Also, it is crucial to realize that all successful businesses offer massive value to their customers. Creating products and services which efficiently and innovatively solve problems adds tremendous value to a person or business. This same value is what gets turned into an equivalent amount of profit.
Here are seven proven customer service principles guaranteed to turn the customers you have now and those to come in the time ahead into raving fans. This will naturally create an upward spiral of growth for your business since these very customers will happily share their great experience with your organization with countless others.
Keeping your word is where it all begins
When you say you were going to do something, customers expect you will do it. Since it is the norm for companies to make promises and not keep them, any business which is adamant about keeping their commitments to their customers is warranted to stand apart from the herd. So next time you are telling one of your customers you will do something, make sure that you do it no matter what happens.
Keeping your word with the customers allows them to be able to trust you. Trust is the essential ingredient to any successful long term personal or professional relationship. It is the foundation upon which everything else is built upon. Not just in business, but in general in relationships in life.
Always be honest and tell it like it Is
Your customers are people just like yourself and have more common sense than most businesses are willing to admit. By being honest and telling your customers the truth, you are much more likely to get a positive response to any situation. Given the current technological dynamics of our existence, a customer or client can very easily interact with others and get to the bottom line quickly.
The Internet is and has been changing the way business is conducted around the world. If you say your pricing is the cheapest and customer service the best, it is only a matter of minutes before this can be verified by interacting with others in a global economy. A prospect can do five minutes of research on Google and find out if you are telling the truth or just blowing smoke.
Always think proactively, looking around the corner
Everything in life is a dual creation. What that means is first we create any idea, service, or product in our mind. Once that is done, we then create its physical manifestation in the physical world. Thus it is totally accurate to say that if we wish to change our physical reality, we must first change our mental reality.
Thinking proactively when it comes to customer service boils down to addressing concerns PRIOR to you having to hear from the customer that something needs to be done. A simple example is an Internet Service Provider informing their clients that a necessary upgrade to computer services infrastructure will temporarily disable Internet access on x day at x time. It is simply amazing how much thinking proactively can benefit the bottom line of any organization not just when it comes to customer services, but also business strategy in general.
Deal with problems as best you can yourself, never passing the buck
My greatest mentor once told me that he met a billionaire, that’s right, a billionaire, who shared with him that “until a person realizes problems are a normal state of affairs, they have not even begun to mature yet.” Whether you wish to admit or not, problems in life are just as much a part of reality as eating, breathing, and walking. A person can certainly structure their life in such a manner that they can minimize those problems; however when the problems do arise they must be dealt with.
The best way to deal with any problem is THROUGH IT. What that entails is when problems arise; you simply stop and evaluate what is happening. Based on your evaluation, the problem is then to be addressed according to a chosen plan.
When a customer calls or walks in with a problem, it is an absolute opportunity to solidify their trust in your organization and prove that they can count on you to get it fixed. The first step is simply clearing up the facts and getting to the bottom line of exactly what needs to be addressed. Once the problem is clearly understood, it can be eradicated. The more authority your employees have to address customer problems, the better it is since nothing upsets customers than being passed from department to department when dealing with a problem.
There is no point in arguing with a customer because it is a lose/lose situation
The best way to deal with an argument is to downplay its confrontational aspect and direct all energy and attention towards a solution. What can be done to make the customer feel happy and cared for.
A customer can totally be wrong; however most of the times they simply need education to better understand the situation at hand.
It is also very important to separate an objective argument from a personal attack. If a person is frustrated because a product or service has not lived up to its standard, it is essential for your company’s representative dealing with the customer realize that the customer is upset at the situation and not at them personally. Often arguments turn personal when the people involved had nothing in the creation of the problem being argued about to begin with.
Accept your mistakes, learn from them, and do not repeat them
My greatest mentor, who is a professional drag racer at heart, also shared with me that in professional drag racing “the one who makes the least mistakes wins.”
We all make mistakes. Some of us accept that we made a mistake, evaluate the situation, learn the lesson and move on, while others get stuck in a never-ending state of denial. “What did I do wrong? I am not responsible for it!” is a common theme in their life.
Acknowledgment always precedes resolution. When a company’s customer service representative is dealing with a situation where a mistake has been made by the company, the best thing which can be done is taking ownership of the issue at hand. The anger and emotion around any issue can be minimized by admitting fault and diverting all energy towards a resolution. Customers are normal people just like the rest of us and when they hear that a mistake was made, and that you apologize for it and focus on the solution, the energy balance shifts from being upset to feeling content that the issue at hand will be professionally addressed.
You may have heard before “when you lose, don’t lose the lesson.” There is always something to be learned from any situation in life. Your general attitude will determine how you look at life, which will bleed into any business you are a part of. With each mistake, it is essential to realize what went wrong, how it went wrong, and most importantly what can be done in the future to prevent the same situation from occurring.
Consistency is the name of the game for lasting success
If you do something once, great. If you do it twice, awesome. If you do it three times, brilliant. And if you do it over and over, consistently, congratulations my friend, if you happen to be doing things the right way, you are officially a success.
Repetition is a common theme for most of what we do in life. When the six customer service principles discussed above are practiced consistently, customers realize over time that the integrity of how you choose to run your business is unable to be compromised.
Always remember, people buy more so because they want to, than they need to (Why do you think the average family in the west has so much debt?). Similarly, customers do business with companies because they WANT to do business with.
If your customers truly believe that your company can be counted upon, not in times when everything is fine but in times where there are problems and challenges, they will choose to do business with you because they know that no matter what you will get the job done.
Superior Leader - Warren Buffet
Superior business leader and American investor Warren Buffett is often called “Oracle of Omaha” or the “Sage of Omaha” and philanthropist. (Wikipedia, 2007) Buffett is the CEO, and the biggest shareholder of the Berkshire Hathaway Company. Buffett’s has an estimated current net worth of approximately $52 billion in US funds. Forbes Magazine ranks Buffett the third richest person in the world in September 2007 behind Carlos Slim and Bill Gates.
Warren Buffett is known for his economical and plain lifestyle. Buffett still lives in the same Omaha, Nebraska house that he purchased in 1958 for $31,500 with a current value of $700,000. In 1989, Buffett spent $9.7 million of the Berkshire’s funds on a corporate jet. He jokingly named it “The Indefensible” because of his past criticisms of such purchases by other CEOs. (Wikipedia, 2007)
Warren Buffett decided to make a commitment to give his fortune to charity back in June 2006. Buffett’s charity donation is approximately $30 billion, which is the largest donation in the history of the United States. The donation was enough to more than double the size of the foundation with 83% of it going to the Bill and Melinda Gates Foundation. Buffett believed that his family had enough money to get started in life so Buffett decided to give his fortune to charity. Buffett’s annual salary in 2006 was only $100,000. In 2007, Buffett was listed among Time Magazine’s 100 Most Influential People in the World. (Wikipedia, 2007)
What makes Warren Buffett a good business leader? This is what everyone wants to know because Warren buffet is so successful. It all starts with leadership. Warren buffet is a true leader where his leadership makes a difference in the world. Leadership is very much related to change and Warren Buffett has the capabilities of leadership change to fit the changing world. Warren Buffett has repeatedly demonstrated the ability to map read in the irregular waters of change. Is Warren Buffett born a leader? The authors of this paper believe not. Experience and research has shown little evidence that an individual who comes to power is a “born leader.” Warren Buffett took the falls that any other leader has to take. Warren Buffett learned from his mistakes and turned his mistakes into a positive thing. Warren Buffett shares his leadership at all organizational levels and Buffett is empowered to share leadership responsibilities. In the world of business, many titles related to leadership roles are actively used in business and Warren Buffett wears those titles to make him effective in multiple leadership positions in business. Distinction between good leadership and good management is made often. Managers are made to be organizational, controllers and budgeters. Warren Buffett has leadership in all three departments and one must have these traits to be a good business leader.
Another important trait in Today’s business leadership is communication. Warren Buffet is a skilled communicator in all aspects of life. Communication is the real key of leadership. Skilled communicators have an appreciation for positioning in the business world. Warren Buffet is experienced at positioning himself at the right place at the right time. Warren Buffet has the understanding of the people he is trying to reach and what he can and cannot hear from the people. Knowledge of audiences’ needs and wants gives the orator the ability to listen. Warren Buffett is an excellent listener with the ability to convey his understanding.
When Warren Buffett talks, people listen. Warren Buffett can send a message through an open door and does not have to push the message through a wall.
Leadership is crucial to any successful business and good leadership is what Warren Buffett is all about. This is what makes Warren buffet a good business leader.
Mr. Warren Buffett’s investment strategies and course of leadership are shining examples of characteristics shared by cognitive theorists. Cognitive theory is an approach of explaining behavior through perception, anticipation, and thinking. Mr. Buffett’s continual approach of analyzing both possible investment choices, market trends, and the ability to place management resources of the right caliber in the right position has consistently brought this investor to the forefront amongst peers and the marketplace. At the core of every sound investor is a creative innovator.
Innovation demands creativity. Creativity in turn draws on our cognitive faculties, across the full amplitude from emotion to reason. In the number-heavy world of global investing, innovative thinking is critical. Innovative investors decipher future trends, spot likely winners by combining science (financials) with art (acuity and perception) and continuously mitigate risk. They assess user needs, product features, the proper deployment of money, professional organizational structures and risk management. (Kore Kalibre, 2006)
Mr. Buffett’s instinct and ability to interpret market trends is also held by tight reigns. Despite over 50 years of growth, Mr. Buffett always adheres to one of the most basic business principles: “…only compete where you have a competitive advantage. Warren Buffett refers to staying within your circle of competence. Social psychologists tell us, though, that we are prone to overconfidence when it comes to assessing our abilities…” (Arthridge, 2006) A man of Warren Buffett’s position and track record could easily be derailed to a sense of over confidence. The principle of only competing within your range of competitive advantage is a principle that can be applied to many other areas in life, and Mr. Buffett’s ability to work and live by this idea has allowed him to continue forward with minimal bruising.
By establishing the previous examples, the authors can reinforce the principles of cognitive theory in that Mr. Buffett behavior patterns are clearly dictated by thought processes, which include interpretation, analysis, and foresight. “As experiences and events gain meaning and value, the process becomes increasingly top down as the mind in (a) attempt at an orderly process influences perception though beliefs, goals and external process” (Gardener, 2007)
Warren Buffett’s is a self empowered leader, because he is loyal, sets goals, plans a strategy for achievement, and stays committed until he accomplishes his purpose. Up to date, he is the greatest stockbroker of all-time. He is a very conservative investor that prefers to invest in companies that sell name brand products that he uses. For example, Coca-Cola, Gillette Razors, See’s Candy, Gulfstream Jet, and GEICO are the major companies he invested in. In the nineties his assets quadrupled in less than five years. He is a smart investor that usually does not take big investment risks. For example, he will not invest in internet stock, because the return is unpredictable. He likes to invest in companies that he is sure will be successful 20 years later. He buys the company with the intentions of keeping it forever. Usually, the management team of each company is the same staff that sold it Warren Buffett from the beginning. He stays loyal to his partners, and the team workstheir best to keep him happy.
After Warren Buffett’s wife died, he decided to donate 85% of his money to charity. However, “he wants his money to be used the same year he donates it”.(Harris, 2006) The requirement will accelerate the process to help the world. According to Fortune magazine, five-sixths of his money will go to the Bill and Melinda Gates Foundation. This foundation which focus on finding cures for diseases that are common in poor nations. The rest of the money will be split among four other charities, that are each run by his three children and one that is in his late wife’s name.
Warren Buffett is not a huge spender. In fact, he still lives in the same house he bought 40 years ago. Warren “told ABC News “Nightline” that being born into wealth did not entitle his children”(Harris, 2006). In addition, he told Fortune magazine that, “A very rich person would leave his kids enough to do anything, but not enough to do nothing.”(Harris, 2006) In other words, he wants his children to work earn their money and value hard work and smart choices.
In the year 2006, Warren’s first annual donation to the Bill and Melinda Gates Foundation was $1.5 billion and the rest was divided among the four charities. He was the first person to make a donation better than Bill Gates, the richest man in the world. It seems as if Bill Gates and Warren Buffett set a good example and lead others to be more generous, because now the Barron Hilton has committed to donating half of his fortune to charity also. Barron Hilton is the founder of the Hilton Hotels and is worth $2.3 billion. Hopefully, a trend started among the fortunate to give to the less fortunate.
The personality of Warren Buffett ties to the Social Cognitive Level, because he tries to understand and make sense of other people. He observes the differences in social knowledge when dealing with people. Social cognition refers to making sense of ourselves, others, and how the information is used. In the sixties and seventies Albert Bandura and Walter Mischel were psychologists, studying personality development. They found that social learning and cognitive principles improve ones abilities to self-regulate and to follow goals. Warren investment choices were successful, because he conditioned his the way he processed information, choices, and expectations.
Warren Buffett is known for his economical and plain lifestyle. Buffett still lives in the same Omaha, Nebraska house that he purchased in 1958 for $31,500 with a current value of $700,000. In 1989, Buffett spent $9.7 million of the Berkshire’s funds on a corporate jet. He jokingly named it “The Indefensible” because of his past criticisms of such purchases by other CEOs. (Wikipedia, 2007)
Warren Buffett decided to make a commitment to give his fortune to charity back in June 2006. Buffett’s charity donation is approximately $30 billion, which is the largest donation in the history of the United States. The donation was enough to more than double the size of the foundation with 83% of it going to the Bill and Melinda Gates Foundation. Buffett believed that his family had enough money to get started in life so Buffett decided to give his fortune to charity. Buffett’s annual salary in 2006 was only $100,000. In 2007, Buffett was listed among Time Magazine’s 100 Most Influential People in the World. (Wikipedia, 2007)
What makes Warren Buffett a good business leader? This is what everyone wants to know because Warren buffet is so successful. It all starts with leadership. Warren buffet is a true leader where his leadership makes a difference in the world. Leadership is very much related to change and Warren Buffett has the capabilities of leadership change to fit the changing world. Warren Buffett has repeatedly demonstrated the ability to map read in the irregular waters of change. Is Warren Buffett born a leader? The authors of this paper believe not. Experience and research has shown little evidence that an individual who comes to power is a “born leader.” Warren Buffett took the falls that any other leader has to take. Warren Buffett learned from his mistakes and turned his mistakes into a positive thing. Warren Buffett shares his leadership at all organizational levels and Buffett is empowered to share leadership responsibilities. In the world of business, many titles related to leadership roles are actively used in business and Warren Buffett wears those titles to make him effective in multiple leadership positions in business. Distinction between good leadership and good management is made often. Managers are made to be organizational, controllers and budgeters. Warren Buffett has leadership in all three departments and one must have these traits to be a good business leader.
Another important trait in Today’s business leadership is communication. Warren Buffet is a skilled communicator in all aspects of life. Communication is the real key of leadership. Skilled communicators have an appreciation for positioning in the business world. Warren Buffet is experienced at positioning himself at the right place at the right time. Warren Buffet has the understanding of the people he is trying to reach and what he can and cannot hear from the people. Knowledge of audiences’ needs and wants gives the orator the ability to listen. Warren Buffett is an excellent listener with the ability to convey his understanding.
When Warren Buffett talks, people listen. Warren Buffett can send a message through an open door and does not have to push the message through a wall.
Leadership is crucial to any successful business and good leadership is what Warren Buffett is all about. This is what makes Warren buffet a good business leader.
Mr. Warren Buffett’s investment strategies and course of leadership are shining examples of characteristics shared by cognitive theorists. Cognitive theory is an approach of explaining behavior through perception, anticipation, and thinking. Mr. Buffett’s continual approach of analyzing both possible investment choices, market trends, and the ability to place management resources of the right caliber in the right position has consistently brought this investor to the forefront amongst peers and the marketplace. At the core of every sound investor is a creative innovator.
Innovation demands creativity. Creativity in turn draws on our cognitive faculties, across the full amplitude from emotion to reason. In the number-heavy world of global investing, innovative thinking is critical. Innovative investors decipher future trends, spot likely winners by combining science (financials) with art (acuity and perception) and continuously mitigate risk. They assess user needs, product features, the proper deployment of money, professional organizational structures and risk management. (Kore Kalibre, 2006)
Mr. Buffett’s instinct and ability to interpret market trends is also held by tight reigns. Despite over 50 years of growth, Mr. Buffett always adheres to one of the most basic business principles: “…only compete where you have a competitive advantage. Warren Buffett refers to staying within your circle of competence. Social psychologists tell us, though, that we are prone to overconfidence when it comes to assessing our abilities…” (Arthridge, 2006) A man of Warren Buffett’s position and track record could easily be derailed to a sense of over confidence. The principle of only competing within your range of competitive advantage is a principle that can be applied to many other areas in life, and Mr. Buffett’s ability to work and live by this idea has allowed him to continue forward with minimal bruising.
By establishing the previous examples, the authors can reinforce the principles of cognitive theory in that Mr. Buffett behavior patterns are clearly dictated by thought processes, which include interpretation, analysis, and foresight. “As experiences and events gain meaning and value, the process becomes increasingly top down as the mind in (a) attempt at an orderly process influences perception though beliefs, goals and external process” (Gardener, 2007)
Warren Buffett’s is a self empowered leader, because he is loyal, sets goals, plans a strategy for achievement, and stays committed until he accomplishes his purpose. Up to date, he is the greatest stockbroker of all-time. He is a very conservative investor that prefers to invest in companies that sell name brand products that he uses. For example, Coca-Cola, Gillette Razors, See’s Candy, Gulfstream Jet, and GEICO are the major companies he invested in. In the nineties his assets quadrupled in less than five years. He is a smart investor that usually does not take big investment risks. For example, he will not invest in internet stock, because the return is unpredictable. He likes to invest in companies that he is sure will be successful 20 years later. He buys the company with the intentions of keeping it forever. Usually, the management team of each company is the same staff that sold it Warren Buffett from the beginning. He stays loyal to his partners, and the team workstheir best to keep him happy.
After Warren Buffett’s wife died, he decided to donate 85% of his money to charity. However, “he wants his money to be used the same year he donates it”.(Harris, 2006) The requirement will accelerate the process to help the world. According to Fortune magazine, five-sixths of his money will go to the Bill and Melinda Gates Foundation. This foundation which focus on finding cures for diseases that are common in poor nations. The rest of the money will be split among four other charities, that are each run by his three children and one that is in his late wife’s name.
Warren Buffett is not a huge spender. In fact, he still lives in the same house he bought 40 years ago. Warren “told ABC News “Nightline” that being born into wealth did not entitle his children”(Harris, 2006). In addition, he told Fortune magazine that, “A very rich person would leave his kids enough to do anything, but not enough to do nothing.”(Harris, 2006) In other words, he wants his children to work earn their money and value hard work and smart choices.
In the year 2006, Warren’s first annual donation to the Bill and Melinda Gates Foundation was $1.5 billion and the rest was divided among the four charities. He was the first person to make a donation better than Bill Gates, the richest man in the world. It seems as if Bill Gates and Warren Buffett set a good example and lead others to be more generous, because now the Barron Hilton has committed to donating half of his fortune to charity also. Barron Hilton is the founder of the Hilton Hotels and is worth $2.3 billion. Hopefully, a trend started among the fortunate to give to the less fortunate.
The personality of Warren Buffett ties to the Social Cognitive Level, because he tries to understand and make sense of other people. He observes the differences in social knowledge when dealing with people. Social cognition refers to making sense of ourselves, others, and how the information is used. In the sixties and seventies Albert Bandura and Walter Mischel were psychologists, studying personality development. They found that social learning and cognitive principles improve ones abilities to self-regulate and to follow goals. Warren investment choices were successful, because he conditioned his the way he processed information, choices, and expectations.
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