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7 Ways to Make Multiple Streams of Income as a Business Lifestyle Entrepreneur

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lifestyle entrepreneur

In light of all the changes that are occurring in the world, there are many people that desire to make multiple streams of income in their businesses to give them the security that they need. As an entrepreneur, this should always be your goal and it is not as hard as you make think to make it reality in your life and business.

Creating multiple streams of income without trying to use get rich quick scams, or doing something that is completely against your ethics can be your reality after you get clear as to where you want your business to go and how much money you want to make.  

Implementing these 7 strategies will set you up to successfully achieve multiple streams of income:

1. Always have low priced valuable items to sell

These lower priced items is the way that you are going to be able to get your foot in the door to help your potential customers. This will give them a taste of what you are about and if you give them enough value, for a low price, they will be compelled to work with you further. When you are thinking about your lower priced items, your goal should be to turn a customer into a repeat customer.

2. Write a book

To clarify, writing a book usually will not make you rich unless you have a huge following and can get a book deal. But what it can do is help you to have a book sized business card that no one will probably lose or throw away and you will be able to make money off of that same book if it is priced correctly.

A book that is written well and positioned correctly is a client magnet that can generate money from new and existing customers. It also gives you social proof to position yourself as the expert which can also bring clients knocking at your door.

“There is no greater agony than bearing an untold story inside you.” – Maya Angelou

3. Launch a virtual summit

Summits have been known to attract a nice sized crowd while giving you the ability to create multiple ways for you to make money. With a viable summit you will be able to make money upon registration, with partners that you have strategically partnered with, and if you have marketed it correctly and was able to draw in a nice sized crowd, you can choose to sell something during the summit.

4. Create an online course

Your ideal customers are hungry to learn about what you have to offer them. An online course makes it convenient and available. If you record it once effectively and give the value that your customers are looking for, you can use it again multiple times by just updating it by adding the best value and taking away things that are no longer working. Your online course can also be repurposed for other things that you can sell like virtual workshops, mini courses, and boot camps.

5. Start doing bi-monthly, monthly, or quarterly webinars

Webinars are amazing tools for you to make an impact on your audience as well as your pocket book. You can either do a paid webinar or a free webinar offering the people that are eager to work with you at the end an opportunity that they can’t refuse.

6. Create an effective up-sell

Effective up-sells help you give a person what they need that compliments something that they are already getting. Imagine that these people are checking out at a grocery store, they will see your valuable offer that is something that they now realize that they need and want. Think about how many times that you’ve walked into a store and didn’t know that you needed something until you saw it.

Once someone sees the valuable item that you have for sale for a reasonable price, they will have that same spontaneous desire to buy that so many others have also had. Perhaps, you are giving them something for free and you have this great product or service that can go along with it.

This is the perfect opportunity for you to introduce your irresistible offer and give them something priced just right for them to add value to what they already have. This strategy is best accomplished with an effective traffic generating plan. The more traffic that comes to sign up for what you have, the more people that will purchase.

“If you believe in what you are doing, then let nothing hold you up in your work.” –Dale Carnegie

7. Launch a membership site

Membership sites done correctly are amazing ways for you to give value for a reasonable amount and also have the opportunity to make a lot of cash. Depending on the kind of site that you create, members will be privileged to a certain amount of valuable content that you will give them on a monthly basis.

These are usually with no contracts so members could cancel their subscription at any time. The good thing is that if you are giving great value and have a certain amount of members per month, you can build up a lucrative residual income that can bring you security while you build up all of your other streams of income.

The very wealthy have said that you shouldn’t have less than seven streams of income and if you haven’t created your seven yet, utilizing these strategies will help you to get there.

What are some streams of income you have in your business? Leave your comments below!

Image courtesy of Twenty20.com

Hi, I'm Denise Damijo, I'm a Business and Lifestyle Strategist and a #1 Bestselling author of "When You're Done Expecting." I love helping other entrepreneur's get laser-focused on plugging the holes in their business so that they can improve their lives. You can find me writing for cool publications like this one, Huffington Post, Thrive Global, and She Owns It. I also love cooking up a good business plan and spending quality time with my family. Connect with me on my Podcast, Mind Money Mogul or on Facebook.

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1 Comment

1 Comment

  1. Muyiwa Osifuye

    May 28, 2017 at 6:48 pm

    A good line of thought you have here.

    I will chip in…

    It is important to add to these list of online activities other offline business ideas.

    There still exists many rewarding brick and mortar business ideas out there.

    Many smart business owners make a cocktail of the virtual and the real.

    For example…you if you have made good profit from an online course, you could take a portion of that and start a manufacturing business or food business arc

    or buy equipment in a needy industry and start an equipment leading business …for doctors,artisans,crafts men

Leave a Reply

Your email address will not be published. Required fields are marked *

Entrepreneurs

Qualities Of A Brilliant Salesperson Who Actually Closes Deals.

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I’ve spent the last ten years analyzing sales people and what separates the good, from the uninspiring, worn out, no good sales person that is toxic to any sales culture.

I’ve also worked in sales for a long time myself. These qualities are what have worked for many other high performing sales people I’ve worked with and me.

Here are the qualities of a brilliant salesperson:

 

They’re humble as F*#K.

They’re not the person trying to tear everyone else down.
They don’t think they’re the best.
They want to train the junior sales people.
They aspire to be a leader.

Humble salespeople do all of these things because they know that if they didn’t have access to those same tools, they’d never be where they are. Bragging is ugly and eventually, it will reflect in your sales performance.

No salesperson is ever going to be on top of the leaderboard forever.

That’s why it pays to be humble in sales.

 

They get that relationship is everything.

If someone doesn’t like you, they probably aren’t buying from you. We all buy from people we like.

A relationship with a client is built with the following tools:

– Respect
– Vulnerability
– And Rapport

If you nail those three tools, then you’ll have a genuine relationship with the client. A relationship is another word for trust. Once you’re trusted, you’ll get all the business.

“All the snake oil salesman in the world can’t take a client from you when you are the most trusted sales person they are dealing with”

 

They worship the power of referrals.

The religion of a salesperson who knows their craft is one word: referrals.

Referrals come from doing a good job and delivering on what you say you will. That quality is so rare and that’s why many salespeople don’t get referrals. If you want to compound your results, you must do your best to over deliver.

This doesn’t mean underselling so that you can deliver what the client actually paid for; over delivering is delivering more value than should normally be expected from the same product or service in the marketplace.

 

They have gone all in on social media.

Everyone Google’s everyone nowadays.

“If a customer Googles you and you appear nowhere, then you become a commodity. Unfortunately, that translates to a heavy bias towards price”

When someone looks you up, they should see a professional social media profile like LinkedIn, they should see at the very least some content from you about your industry, and some reviews or references from people you’ve previously sold too.

A strong social media presence allows brilliant salespeople to have warm prospects approach them rather than having to go looking for them. A brilliant salesperson can turn a “Hi, how are you Tim Bob?” into a “Yes let’s meet next week for coffee to discuss X business opportunity.”

 

They take the complex and make it simple.

That’s why we fell in love with Apple. They took hundreds of menus and turned them into a few beautiful app icons. Life is complex enough and a brilliant salesperson can help us take a load off by giving advice to us in easy to understand language.

This method of communication requires the “less is more approach,” no acronyms, no industry jargon and a step-by-step process that can easily be followed.

 

They tailor to the audience.

Corporate pitch? Better put a suit on.
Seeing a new, cool, funky startup? Probably best to wear a t-shirt and take a backpack.
First-time users of the product or service? Stick to the why and 2-3 useful takeaways.

 

They capture your attention.

Not by using PowerPoint decks, closing techniques and fancy catch phrases: by using their infectious personality and sense that they care about the needs of the customer.

 

They avoid overthinking.

It’s easy to procrastinate in sales and try and predict every move that a customer will make. In the end, the client will use mostly emotion to make a decision. Quit trying to overthink the outcome of a business opportunity and focus on going all in.

Give it everything you have and then if you lose the sale, it’s all gravy. Move on to the next business opportunity.

 

They make actual decisions.

Sales is hard which is why there are incentives. If it were easy, we’d all have the job title of “sales.”
Sales requires many consecutive and challenging decisions one after another. You have to convince not only the customer, but also the internal stakeholders such as the product and operational areas.

This process is a series of lots of small decisions that match the urgency of your customer. If you take too long, you lose the sale. If you overpromise, you’ll burn the client. If you don’t offer a competitive price, they may go elsewhere.

All of these are decisions and brilliant salespeople make them daily, and do so efficiently.

 

They always use deadlines.

Without a date to work too, we all get lost in the busy trap. Either you become too busy or the client does. This is not about hard sell techniques or fake offers that expire. If you can genuinely help your client, then you should want them to have that benefit as quickly as possible.

 

They are aware of their ego.

Ego is the enemy. If you think you’re some hot shot sales person, your prospective clients will run. Too much confidence and an inflated ego are usually a mask of a salesperson who’s covering something up. In other words, someone who lies for a living.

Humbleness, kindness and humility are how a brilliant salesperson attracts customers. Too much ego does the opposite.

 

They use discipline to their advantage.

As I said, sales is hard work. To be good at it, you need to be disciplined.

You can’t help everyone.
You only have so much time to prospect.
You have to make the calls, respond to emails and see clients to make target.

If you don’t do the basics, you can’t be a brilliant salesperson. Kobe Bryant put in the hours to become a great basketballer. He went to the gym, did the practice shots and ran until he passed out. Phone calls, emails and prospecting meetings are the exercises used in the sales world.

The more you do the exercises and stick to the plan, the closer you’ll get to Kobe’s success in the basketball world. We’re lazy by nature though, so discipline is key in sales.

 

They listen.

Too many salespeople talk your head off but don’t actually listen. Listening in sales is how you understand the customer and deliver a message that will allow them to make a buying decision. You’ll learn more from listening than talking. Phenomenal salespeople recognize this.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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Entrepreneurs

4 Important Life Lessons You Can Learn From Billionaire Jim Koch

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jim koch

Jim Koch is an American entrepreneur, author and a passionate beer lover who left his lucrative business in Wall Street to start his own beer company, Boston Beer, from scratch and make it among the most successful brands in the US market with an annual revenue of around $1 billion. I have read a few books about Koch, including his book, Quench Your Own Thirst: Business Lessons Learned Over a Beer or Two, and below are four lessons I believe you should learn from Koch`s thrilling life.

1. Do what you love

Koch had a business and law degree from Harvard and had a lucrative, high-paying job, yet he wasn’t happy. When he thought about the whole situation, he realized that consulting wasn’t what he wanted to do for the rest of his life. So he quit after spending five years at a consulting group in Boston and went to do what he loved best; manufacturing and selling beer.

“Getting rich is life’s biggest booby trap. It comes down to what would you rather be, happy or rich? I say do what’s gonna make you happy.” – Jim Koch

2. Career wanderings aren’t bad

If you still can’t find your calling or have wasted a couple of years working on something you later found out  doesn`t fit you, don`t worry. Koch`s career path wasn`t linear. He began his adulthood life deciding to be in the beer business. In fact, he was encouraged not to do so by his father whose net income in the last six months of his brewing career was less than $500.

Koch found his calling at the age of 34 and believes he wouldn’t have made it without his many career wanderings, including working as an outward bound instructor and spending three and a half years mountaineering across America.

One of the lessons he learned from that job is that you never climb a mountain to get to the middle. You either aim for the top or don`t climb at all. With this lesson in mind, Koch intended to make The Boston Beer Company the biggest high-end beer in America, and now his net worth is over $1 billion.

3. When there’s a will, there’s a way

When he launched his first product, Koch`s best idea was to hire someone to sell it for him because, though he knew a lot about brewing and the law, he wasn’t a good salesman. Unfortunately, none of the five Boston-based wholesalers agreed to represent him thinking the market wasn’t ready for an expensive American beer.

So he got himself a wholesaler license, leased a truck and hovered around Boston cold-calling bars. They liked his beer, and the wholesaler`s cut went into his pocket.

“The values you want to live have to come from your own living heart. You have to be the best model of those values. You have to push yourself to the highest possible standard, because it’s not reasonable to expect anybody else to have a higher standard than you do as a leader.” – Jim Koch

4. Monday may never come

One Friday morning, a friend left a message with Koch`s secretary that he would call him on Monday. Unfortunately, that man didn’t make it and died of a heart attack on Sunday. So Koch asked for that message to be framed and hung on his office wall to remind him that Monday doesn’t always come. The lesson here is simple; life is short and whatever you have on your plate do it ASAP, if not now.

One of the things you must do, according to Koch, is start collecting experiences as quickly as possible. If you’re in your twenties or thirties, the best question to ask yourself is “What experiences will I regret not having ten years from now?” Write them down, make a plan and a deadline and use necessity and pressure to force yourself to take action because you probably won’t have enough time or freedom to do many things once you start a career, get married, and have a family.

Life is also short relationship-wise. You don’t know when your loved ones will go. A parent, a friend, or that cheerful old lady who greets you every time you meet on the streets. One day, one of you will leave, and you don’t know whether you`ll ever have a goodbye moment together.

So make it a habit each day of calling somebody you haven’t seen in years or make sure your friends or parents are okay. It will make both of you feel good, and when that inevitable moment comes, you won’t have many regrets.

What is something you have learned from Jim Koch? Comment below!

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Entrepreneurs

These 10 Steps Will Help Any Entrepreneur Get Their Game Right

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entrepreneurship

You followed your heart. You turned your passion into your mission. Your fear of regret superseded your fear of going for it. You’ve worked hard, but the success you desire didn’t arrive on schedule. You’ve had achievements, followed gurus, and kept your dream alive through sheer tenacity and a determination not to return to the hamster wheel from which you jumped.

You’re exhilarated at the thought of being your own boss, working alongside your dog, and not punching a time clock. What you may not have known about entrepreneurship is that, like raising kids, there are ups and downs, overwhelm and excitement, pain and joy. You’ll think you’re doing it wrong most of the time, while secretly hoping you’re getting some of it right. You’ll want to quit. To all those statements, I can say, me too.

Here’s 10 ways to change your game and get it right:

1. Refine and release your product offering

Your business isn’t just about what you’re selling and what problem it’s solving. Focus on what gives your life meaning and how what your offering represents that. You’re selling your story, not your product or service.  And, if you’re stuck in the pondering, refining, revising, rewriting, or redesigning stage, move forward. Get a good, not perfect, product out there. Rinse and repeat. Done is better than perfect unless you’re engineering heart valves or knee replacements.

2. Build your brand from your heart, not your head

If no one knows who you are, where to find you or what you do, they can’t buy from you.  A legitimate problem but easily solvable. The step that matters most to your bottom line, however, is incorporating bits of your journey and soul, not just your expertise. Focus on being resonant. A great brand builds relationships and relationships are why buyers choose you over and over.

3. Determine if you have a fear of failure, a fear of success or both

You are probably clear on fear of failure- the hesitancy that comes with the fact that what you’re doing might not work out and could be painful to you and your bank account. What you may be less familiar with is a fear of success, that can be equally paralyzing because you have deep-seated worries about how your life will change if your business really takes off.

You might be disappointed that you haven’t reached your goals, but you are comfortable with the familiarity of how your life is now. Fear of success is released the same way as fear of failure. Ask yourself three questions. What’s the worst that can happen if I’m successful? Can I handle it? And, what’s the best that can happen? Then choose comfortable and familiar or success.

“Fears are educated into us, and can, if we wish, be educated out.” – Karl Augustus Menninger

4. Hustle

When you link your service to your story, you can easily talk to everyone all the time about what you do without sounding coercive or salesy.  If you want to be successful, you have to be the mayor. Fake being outgoing until you’re outgoing. You may have held back because hustling sounds icky. You may also have mistakenly thought you were hustling when you weren’t!

If you work all the time but aren’t getting where you want to go, you may be doing more of what’s comfortable rather than what works. Give your inner badass entrepreneur a hustler nickname and embrace that part of you that knows you’re in business to make money as well as making the planet a better place.

5. Focus on what you don’t do well but desperately need

If you’re spending all your time becoming more of an expert at what you do, chasing more credentials and living in the comfort zone, but you’re neglecting marketing, strategic planning, competitive analysis or some other part of your business, success will continue to elude you. Instead of listening to Ted talks and reading journal articles in your field, focus on the major players in business like Tim Ferriss, Tony Robbins, and Gary Vaynerchuk and everyone they interview.

6. Focus on the small goals on the way to the big dream

I love dreaming big, like focusing on becoming a NY Times best-selling author. That goal is definitely on my vision board but so is to finish writing the book and get it published. That’s a simple example but overlooking consistent, focused small steps while affirming the big goal will not get you where you want to go. Don’t focus on a net income of $2 million when, immediately, you need to focus on making enough money to keep you out of a day job.

“Discipline is the bridge between goals and accomplishment.” – Jim Rohn

7. Make “I can” your new motto. Banish “I can’t” from your vocabulary

It’s rarely true anyway. You can say: I don’t know how, I’m working on it, and I need to figure it out, which all imply that there is a solution to be had. I can’t is final and permits you to quit. I can, not only psychologically primes your brain to find a solution, it switches your thoughts from a fixed to a growth mindset.

8. Ask for help

It’s easy to slip into excuses, like “everyone’s busy”, “you have to pay people to help you” and “why would so and so want to help me”.  It’s a risk to ask for assistance. However, wishing, wanting and hoping what you need magically appears succeeds far less often than asking for it. The answer will either be a yes or a no, and either is ok. Don’t take it personally. As Jack Canfield says, every no brings you closer to a yes. Be sure to show or tell them why they want to help you and offer to assist them in return.

9. Know your role models

Don’t reinvent the wheel because wheels exist. Find who’s doing what you want to do, be and have. Study them, contact them, and do what they did. For work, life and relationships- know your role models. And keep it in perspective. Your big goal may be that your mentors become your friends but you need them to be your mentors first.

10. Enlist a support team

You need your cheerleaders and tough lovers. These are people who will provide unbiased support- celebrating the victories, cheering you through the difficulties and asking the tough questions that help you win big. They brainstorm solutions and provide much-needed connection for the SOULpreneur.

Most of success is mental, not mechanics, but these steps cover both, require no financial investment, and you can start on them today. As mega fitness superstar, Shaun T says, “Let’s goooo!”

What gets you excited? Comment below!

Image courtesy of Twenty20.com

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Entrepreneurs

7 Mistakes You Must Avoid When Hiring a Virtual Assistant

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virtual assistant

As my online business has grown over the years, I have felt the need to get some additional hands on board. Since I am big on being flexible, I didn’t want to hire someone as an employee and then worry about giving them a place to work or being there to monitor them. I decided to try my hands at hiring a virtual assistant (VA). While I have hired and worked with many virtual assistants so far, I made some basic mistakes when I hired my first VA last year.

Below, I have shared the seven mistakes I made that one must avoid when hiring a virtual assistant:

1. Not having a clear role for your Virtual Assistant

When I decided to hire a VA, my decision was driven by getting some work transferred to the VA. The mistake here was that I did not think about the exact work I would pass on to him/her.

So, I came across a VA on Facebook and interviewed him. While he seemed like a great guy with a good attitude, he was low on the skills part. Nonetheless, I considered hiring him and then training him on the job.

If I had a clear role in mind for my VA, I could have avoided hiring the VA I did, as he didn’t fit my criteria. But since there was none, I made the mistake of hiring him.

2. Not asking for previous work examples

No matter how great a VA looks, without prior work samples, you have no way to gauge the quality of his/her work. As a rule, always ask for samples. In case the VA doesn’t have related samples, you can ask him/her to do a little sample work for you and then gauge the quality.

3. Not training your Virtual Assistant

When hiring a VA, you must know that it will cost you money as well as some time in the beginning. Unless you have hired a highly skilled VA who is ready to hit the road from the very first day, you need to spend time training him/her. Remember that your business and your way of working is completely new to the VA and you need to hold their hand for the initial few weeks.

Having said that, you’re only helping the VA in areas of your business and your work. You shouldn’t train him/her on basic skills such as email writing, or Excel.

You don’t have to do it all by yourself.” – Whitney Wolfe

4. Not using the right tools

You need to have a system to keep the work going smoothly when working with a VA. When you have a system in place, keeping track of your VA’s work, giving them feedback, and planning ahead is a lot simpler.

Simple things such as creating a Google Drive or Dropbox folder for the VA’s work, using tools such Google Sheets, Slack, and Trello can really streamline your work and save a lot of time.

5. Not giving clear instructions and timely feedback

Your VA can’t read your mind. If you don’t give clear instructions, you shouldn’t expect high-quality work from their end. As a best practice, it helps in being crystal clear in your instructions. While you may find this time consuming, it’s a lot better than to get something low quality in need to rework.

Also, it’s is important to review your VA’s work and give them timely feedback. For the first few weeks, you can opt for daily short check-ins. This becomes a lot more important when you’re working with someone in a different time zone. If you don’t correct them in something when they make a mistake, you risk wasting another day.

6. Not being patient

Even if you hire a perfect candidate, he/she is likely to take time to acclimatize to your business and your style of working. While it’s a good practice to keep a strict tab on the VA’s work, you shouldn’t expect them to start firing on all cylinders from Day 1.

A reasonable expectation should be to transfer your work gradually to the VA (over the next few weeks or even months), and train them appropriately. You need to be patient in the initial days and understand that your VA may slowly cope up and perform as per your expectations.

“Patience is a virtue, and I’m learning patience. It’s a tough lesson.” – Elon Musk

7. Not calculating the ROI

When you invest in a VA, you need to have a clear idea on what benefit you’re looking for. For example, would hiring a VA allow you to expand your business, or would it allow you to delegate some work and focus on more important stuff.

Whatever the benefit, you need to think about the RoI (Return on Investment). Evaluate whether having a VA will help in generating a positive RoI or not. If you can’t peg a number to it, analyze whether the benefit of having a VA justifies the cost or not.

What are some mistakes you’ve made in hiring a VA? Comment below!

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Startups

3 Powerful Ways to Stay Motivated While Building Your Startup

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building a startup

I hear one particular story being repeated over and over again in the startup world. See if you’ve heard it before. A friend tells me how excited he is about a new business idea. He’s talked to several potential customers who seem really interested, and he’s even contracted folks in the industry to help him build a prototype. (more…)

Raya Khashab is the CEO and co-founder of ezClocker, a time tracking and scheduling software for small business. She is passionate about customers and building products that change the way people run their business. She is also a big supporter of the startup community and helping people achieve their dreams. You can reach her on Twitter @rayakhashab

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1 Comment

1 Comment

  1. Muyiwa Osifuye

    May 28, 2017 at 6:48 pm

    A good line of thought you have here.

    I will chip in…

    It is important to add to these list of online activities other offline business ideas.

    There still exists many rewarding brick and mortar business ideas out there.

    Many smart business owners make a cocktail of the virtual and the real.

    For example…you if you have made good profit from an online course, you could take a portion of that and start a manufacturing business or food business arc

    or buy equipment in a needy industry and start an equipment leading business …for doctors,artisans,crafts men

Leave a Reply

Your email address will not be published. Required fields are marked *

Entrepreneurs

Qualities Of A Brilliant Salesperson Who Actually Closes Deals.

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I’ve spent the last ten years analyzing sales people and what separates the good, from the uninspiring, worn out, no good sales person that is toxic to any sales culture.

I’ve also worked in sales for a long time myself. These qualities are what have worked for many other high performing sales people I’ve worked with and me.

Here are the qualities of a brilliant salesperson:

 

They’re humble as F*#K.

They’re not the person trying to tear everyone else down.
They don’t think they’re the best.
They want to train the junior sales people.
They aspire to be a leader.

Humble salespeople do all of these things because they know that if they didn’t have access to those same tools, they’d never be where they are. Bragging is ugly and eventually, it will reflect in your sales performance.

No salesperson is ever going to be on top of the leaderboard forever.

That’s why it pays to be humble in sales.

 

They get that relationship is everything.

If someone doesn’t like you, they probably aren’t buying from you. We all buy from people we like.

A relationship with a client is built with the following tools:

– Respect
– Vulnerability
– And Rapport

If you nail those three tools, then you’ll have a genuine relationship with the client. A relationship is another word for trust. Once you’re trusted, you’ll get all the business.

“All the snake oil salesman in the world can’t take a client from you when you are the most trusted sales person they are dealing with”

 

They worship the power of referrals.

The religion of a salesperson who knows their craft is one word: referrals.

Referrals come from doing a good job and delivering on what you say you will. That quality is so rare and that’s why many salespeople don’t get referrals. If you want to compound your results, you must do your best to over deliver.

This doesn’t mean underselling so that you can deliver what the client actually paid for; over delivering is delivering more value than should normally be expected from the same product or service in the marketplace.

 

They have gone all in on social media.

Everyone Google’s everyone nowadays.

“If a customer Googles you and you appear nowhere, then you become a commodity. Unfortunately, that translates to a heavy bias towards price”

When someone looks you up, they should see a professional social media profile like LinkedIn, they should see at the very least some content from you about your industry, and some reviews or references from people you’ve previously sold too.

A strong social media presence allows brilliant salespeople to have warm prospects approach them rather than having to go looking for them. A brilliant salesperson can turn a “Hi, how are you Tim Bob?” into a “Yes let’s meet next week for coffee to discuss X business opportunity.”

 

They take the complex and make it simple.

That’s why we fell in love with Apple. They took hundreds of menus and turned them into a few beautiful app icons. Life is complex enough and a brilliant salesperson can help us take a load off by giving advice to us in easy to understand language.

This method of communication requires the “less is more approach,” no acronyms, no industry jargon and a step-by-step process that can easily be followed.

 

They tailor to the audience.

Corporate pitch? Better put a suit on.
Seeing a new, cool, funky startup? Probably best to wear a t-shirt and take a backpack.
First-time users of the product or service? Stick to the why and 2-3 useful takeaways.

 

They capture your attention.

Not by using PowerPoint decks, closing techniques and fancy catch phrases: by using their infectious personality and sense that they care about the needs of the customer.

 

They avoid overthinking.

It’s easy to procrastinate in sales and try and predict every move that a customer will make. In the end, the client will use mostly emotion to make a decision. Quit trying to overthink the outcome of a business opportunity and focus on going all in.

Give it everything you have and then if you lose the sale, it’s all gravy. Move on to the next business opportunity.

 

They make actual decisions.

Sales is hard which is why there are incentives. If it were easy, we’d all have the job title of “sales.”
Sales requires many consecutive and challenging decisions one after another. You have to convince not only the customer, but also the internal stakeholders such as the product and operational areas.

This process is a series of lots of small decisions that match the urgency of your customer. If you take too long, you lose the sale. If you overpromise, you’ll burn the client. If you don’t offer a competitive price, they may go elsewhere.

All of these are decisions and brilliant salespeople make them daily, and do so efficiently.

 

They always use deadlines.

Without a date to work too, we all get lost in the busy trap. Either you become too busy or the client does. This is not about hard sell techniques or fake offers that expire. If you can genuinely help your client, then you should want them to have that benefit as quickly as possible.

 

They are aware of their ego.

Ego is the enemy. If you think you’re some hot shot sales person, your prospective clients will run. Too much confidence and an inflated ego are usually a mask of a salesperson who’s covering something up. In other words, someone who lies for a living.

Humbleness, kindness and humility are how a brilliant salesperson attracts customers. Too much ego does the opposite.

 

They use discipline to their advantage.

As I said, sales is hard work. To be good at it, you need to be disciplined.

You can’t help everyone.
You only have so much time to prospect.
You have to make the calls, respond to emails and see clients to make target.

If you don’t do the basics, you can’t be a brilliant salesperson. Kobe Bryant put in the hours to become a great basketballer. He went to the gym, did the practice shots and ran until he passed out. Phone calls, emails and prospecting meetings are the exercises used in the sales world.

The more you do the exercises and stick to the plan, the closer you’ll get to Kobe’s success in the basketball world. We’re lazy by nature though, so discipline is key in sales.

 

They listen.

Too many salespeople talk your head off but don’t actually listen. Listening in sales is how you understand the customer and deliver a message that will allow them to make a buying decision. You’ll learn more from listening than talking. Phenomenal salespeople recognize this.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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Entrepreneurs

4 Important Life Lessons You Can Learn From Billionaire Jim Koch

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Jim Koch is an American entrepreneur, author and a passionate beer lover who left his lucrative business in Wall Street to start his own beer company, Boston Beer, from scratch and make it among the most successful brands in the US market with an annual revenue of around $1 billion. I have read a few books about Koch, including his book, Quench Your Own Thirst: Business Lessons Learned Over a Beer or Two, and below are four lessons I believe you should learn from Koch`s thrilling life.

1. Do what you love

Koch had a business and law degree from Harvard and had a lucrative, high-paying job, yet he wasn’t happy. When he thought about the whole situation, he realized that consulting wasn’t what he wanted to do for the rest of his life. So he quit after spending five years at a consulting group in Boston and went to do what he loved best; manufacturing and selling beer.

“Getting rich is life’s biggest booby trap. It comes down to what would you rather be, happy or rich? I say do what’s gonna make you happy.” – Jim Koch

2. Career wanderings aren’t bad

If you still can’t find your calling or have wasted a couple of years working on something you later found out  doesn`t fit you, don`t worry. Koch`s career path wasn`t linear. He began his adulthood life deciding to be in the beer business. In fact, he was encouraged not to do so by his father whose net income in the last six months of his brewing career was less than $500.

Koch found his calling at the age of 34 and believes he wouldn’t have made it without his many career wanderings, including working as an outward bound instructor and spending three and a half years mountaineering across America.

One of the lessons he learned from that job is that you never climb a mountain to get to the middle. You either aim for the top or don`t climb at all. With this lesson in mind, Koch intended to make The Boston Beer Company the biggest high-end beer in America, and now his net worth is over $1 billion.

3. When there’s a will, there’s a way

When he launched his first product, Koch`s best idea was to hire someone to sell it for him because, though he knew a lot about brewing and the law, he wasn’t a good salesman. Unfortunately, none of the five Boston-based wholesalers agreed to represent him thinking the market wasn’t ready for an expensive American beer.

So he got himself a wholesaler license, leased a truck and hovered around Boston cold-calling bars. They liked his beer, and the wholesaler`s cut went into his pocket.

“The values you want to live have to come from your own living heart. You have to be the best model of those values. You have to push yourself to the highest possible standard, because it’s not reasonable to expect anybody else to have a higher standard than you do as a leader.” – Jim Koch

4. Monday may never come

One Friday morning, a friend left a message with Koch`s secretary that he would call him on Monday. Unfortunately, that man didn’t make it and died of a heart attack on Sunday. So Koch asked for that message to be framed and hung on his office wall to remind him that Monday doesn’t always come. The lesson here is simple; life is short and whatever you have on your plate do it ASAP, if not now.

One of the things you must do, according to Koch, is start collecting experiences as quickly as possible. If you’re in your twenties or thirties, the best question to ask yourself is “What experiences will I regret not having ten years from now?” Write them down, make a plan and a deadline and use necessity and pressure to force yourself to take action because you probably won’t have enough time or freedom to do many things once you start a career, get married, and have a family.

Life is also short relationship-wise. You don’t know when your loved ones will go. A parent, a friend, or that cheerful old lady who greets you every time you meet on the streets. One day, one of you will leave, and you don’t know whether you`ll ever have a goodbye moment together.

So make it a habit each day of calling somebody you haven’t seen in years or make sure your friends or parents are okay. It will make both of you feel good, and when that inevitable moment comes, you won’t have many regrets.

What is something you have learned from Jim Koch? Comment below!

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These 10 Steps Will Help Any Entrepreneur Get Their Game Right

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You followed your heart. You turned your passion into your mission. Your fear of regret superseded your fear of going for it. You’ve worked hard, but the success you desire didn’t arrive on schedule. You’ve had achievements, followed gurus, and kept your dream alive through sheer tenacity and a determination not to return to the hamster wheel from which you jumped.

You’re exhilarated at the thought of being your own boss, working alongside your dog, and not punching a time clock. What you may not have known about entrepreneurship is that, like raising kids, there are ups and downs, overwhelm and excitement, pain and joy. You’ll think you’re doing it wrong most of the time, while secretly hoping you’re getting some of it right. You’ll want to quit. To all those statements, I can say, me too.

Here’s 10 ways to change your game and get it right:

1. Refine and release your product offering

Your business isn’t just about what you’re selling and what problem it’s solving. Focus on what gives your life meaning and how what your offering represents that. You’re selling your story, not your product or service.  And, if you’re stuck in the pondering, refining, revising, rewriting, or redesigning stage, move forward. Get a good, not perfect, product out there. Rinse and repeat. Done is better than perfect unless you’re engineering heart valves or knee replacements.

2. Build your brand from your heart, not your head

If no one knows who you are, where to find you or what you do, they can’t buy from you.  A legitimate problem but easily solvable. The step that matters most to your bottom line, however, is incorporating bits of your journey and soul, not just your expertise. Focus on being resonant. A great brand builds relationships and relationships are why buyers choose you over and over.

3. Determine if you have a fear of failure, a fear of success or both

You are probably clear on fear of failure- the hesitancy that comes with the fact that what you’re doing might not work out and could be painful to you and your bank account. What you may be less familiar with is a fear of success, that can be equally paralyzing because you have deep-seated worries about how your life will change if your business really takes off.

You might be disappointed that you haven’t reached your goals, but you are comfortable with the familiarity of how your life is now. Fear of success is released the same way as fear of failure. Ask yourself three questions. What’s the worst that can happen if I’m successful? Can I handle it? And, what’s the best that can happen? Then choose comfortable and familiar or success.

“Fears are educated into us, and can, if we wish, be educated out.” – Karl Augustus Menninger

4. Hustle

When you link your service to your story, you can easily talk to everyone all the time about what you do without sounding coercive or salesy.  If you want to be successful, you have to be the mayor. Fake being outgoing until you’re outgoing. You may have held back because hustling sounds icky. You may also have mistakenly thought you were hustling when you weren’t!

If you work all the time but aren’t getting where you want to go, you may be doing more of what’s comfortable rather than what works. Give your inner badass entrepreneur a hustler nickname and embrace that part of you that knows you’re in business to make money as well as making the planet a better place.

5. Focus on what you don’t do well but desperately need

If you’re spending all your time becoming more of an expert at what you do, chasing more credentials and living in the comfort zone, but you’re neglecting marketing, strategic planning, competitive analysis or some other part of your business, success will continue to elude you. Instead of listening to Ted talks and reading journal articles in your field, focus on the major players in business like Tim Ferriss, Tony Robbins, and Gary Vaynerchuk and everyone they interview.

6. Focus on the small goals on the way to the big dream

I love dreaming big, like focusing on becoming a NY Times best-selling author. That goal is definitely on my vision board but so is to finish writing the book and get it published. That’s a simple example but overlooking consistent, focused small steps while affirming the big goal will not get you where you want to go. Don’t focus on a net income of $2 million when, immediately, you need to focus on making enough money to keep you out of a day job.

“Discipline is the bridge between goals and accomplishment.” – Jim Rohn

7. Make “I can” your new motto. Banish “I can’t” from your vocabulary

It’s rarely true anyway. You can say: I don’t know how, I’m working on it, and I need to figure it out, which all imply that there is a solution to be had. I can’t is final and permits you to quit. I can, not only psychologically primes your brain to find a solution, it switches your thoughts from a fixed to a growth mindset.

8. Ask for help

It’s easy to slip into excuses, like “everyone’s busy”, “you have to pay people to help you” and “why would so and so want to help me”.  It’s a risk to ask for assistance. However, wishing, wanting and hoping what you need magically appears succeeds far less often than asking for it. The answer will either be a yes or a no, and either is ok. Don’t take it personally. As Jack Canfield says, every no brings you closer to a yes. Be sure to show or tell them why they want to help you and offer to assist them in return.

9. Know your role models

Don’t reinvent the wheel because wheels exist. Find who’s doing what you want to do, be and have. Study them, contact them, and do what they did. For work, life and relationships- know your role models. And keep it in perspective. Your big goal may be that your mentors become your friends but you need them to be your mentors first.

10. Enlist a support team

You need your cheerleaders and tough lovers. These are people who will provide unbiased support- celebrating the victories, cheering you through the difficulties and asking the tough questions that help you win big. They brainstorm solutions and provide much-needed connection for the SOULpreneur.

Most of success is mental, not mechanics, but these steps cover both, require no financial investment, and you can start on them today. As mega fitness superstar, Shaun T says, “Let’s goooo!”

What gets you excited? Comment below!

Image courtesy of Twenty20.com

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Entrepreneurs

7 Mistakes You Must Avoid When Hiring a Virtual Assistant

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As my online business has grown over the years, I have felt the need to get some additional hands on board. Since I am big on being flexible, I didn’t want to hire someone as an employee and then worry about giving them a place to work or being there to monitor them. I decided to try my hands at hiring a virtual assistant (VA). While I have hired and worked with many virtual assistants so far, I made some basic mistakes when I hired my first VA last year.

Below, I have shared the seven mistakes I made that one must avoid when hiring a virtual assistant:

1. Not having a clear role for your Virtual Assistant

When I decided to hire a VA, my decision was driven by getting some work transferred to the VA. The mistake here was that I did not think about the exact work I would pass on to him/her.

So, I came across a VA on Facebook and interviewed him. While he seemed like a great guy with a good attitude, he was low on the skills part. Nonetheless, I considered hiring him and then training him on the job.

If I had a clear role in mind for my VA, I could have avoided hiring the VA I did, as he didn’t fit my criteria. But since there was none, I made the mistake of hiring him.

2. Not asking for previous work examples

No matter how great a VA looks, without prior work samples, you have no way to gauge the quality of his/her work. As a rule, always ask for samples. In case the VA doesn’t have related samples, you can ask him/her to do a little sample work for you and then gauge the quality.

3. Not training your Virtual Assistant

When hiring a VA, you must know that it will cost you money as well as some time in the beginning. Unless you have hired a highly skilled VA who is ready to hit the road from the very first day, you need to spend time training him/her. Remember that your business and your way of working is completely new to the VA and you need to hold their hand for the initial few weeks.

Having said that, you’re only helping the VA in areas of your business and your work. You shouldn’t train him/her on basic skills such as email writing, or Excel.

You don’t have to do it all by yourself.” – Whitney Wolfe

4. Not using the right tools

You need to have a system to keep the work going smoothly when working with a VA. When you have a system in place, keeping track of your VA’s work, giving them feedback, and planning ahead is a lot simpler.

Simple things such as creating a Google Drive or Dropbox folder for the VA’s work, using tools such Google Sheets, Slack, and Trello can really streamline your work and save a lot of time.

5. Not giving clear instructions and timely feedback

Your VA can’t read your mind. If you don’t give clear instructions, you shouldn’t expect high-quality work from their end. As a best practice, it helps in being crystal clear in your instructions. While you may find this time consuming, it’s a lot better than to get something low quality in need to rework.

Also, it’s is important to review your VA’s work and give them timely feedback. For the first few weeks, you can opt for daily short check-ins. This becomes a lot more important when you’re working with someone in a different time zone. If you don’t correct them in something when they make a mistake, you risk wasting another day.

6. Not being patient

Even if you hire a perfect candidate, he/she is likely to take time to acclimatize to your business and your style of working. While it’s a good practice to keep a strict tab on the VA’s work, you shouldn’t expect them to start firing on all cylinders from Day 1.

A reasonable expectation should be to transfer your work gradually to the VA (over the next few weeks or even months), and train them appropriately. You need to be patient in the initial days and understand that your VA may slowly cope up and perform as per your expectations.

“Patience is a virtue, and I’m learning patience. It’s a tough lesson.” – Elon Musk

7. Not calculating the ROI

When you invest in a VA, you need to have a clear idea on what benefit you’re looking for. For example, would hiring a VA allow you to expand your business, or would it allow you to delegate some work and focus on more important stuff.

Whatever the benefit, you need to think about the RoI (Return on Investment). Evaluate whether having a VA will help in generating a positive RoI or not. If you can’t peg a number to it, analyze whether the benefit of having a VA justifies the cost or not.

What are some mistakes you’ve made in hiring a VA? Comment below!

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