Showing posts with label Leadership coaching. Show all posts
Showing posts with label Leadership coaching. Show all posts
Thursday, May 28, 2015
LEADERSHIP - 5 THINGS LEADERS SHOULD NEVER SAY
Words contain power and will set the scene and direction for those who follow your lead
If there’s one thing Sir Richard Branson understands, it’s the pressure of conveying a clear message (either in meetings, public statements, or speeches) without sounding negative.
According to his book, The Virgin Way: Everything I Know about Leadership, here are five words and phrases he tries to avoid.
1. “That’s not a bad idea.”
If this is your response to an idea, your team won’t be clear on whether you love the idea or hate it. “Not bad” could mean you actually kind of like the idea. On the other hand, you didn’t specifically say you love the idea. Don’t leave your audience confused.
“Be definitive,” writes Branson. “If you approve or disapprove of something, be assertive and make your position absolutely clear, making sure you explain why.”
2. “You’re not going to like this, but …”
This phrase sets up your listeners to hear something negative. As a leader, it’s your job to inspire people and instill them with positive feelings – even if what you’re about to share might upset or frighten them. Branson suggests instead saying something like, “This may be a tough nut to crack, but I’m sure we’ll get it done.”
3. “We’ve had better years.”
Leaders are often asked to provide some kind of public commentary on results for the month, quarter, or year, but Branson views the above phrase as a cop out. “People want the truth, not some sugarcoated version of it,” he writes. Admit the reality of your situation and follow up with an honest assessment of how you plan to achieve better results in the future.
4. “That said…”
Branson considers this to be “possibly one of the most destructive phrases in the English language.” When people hear these words, you invalidate anything you said just a minute ago. This can create great resentment among your listeners. “As a verbal bridge from the pros to the cons, try using something like, ‘Of course, we shouldn’t overlook…’” writes Branson.
5. “No comment.”
Branson understands that sometimes leaders aren’t at liberty to discuss sensitive information, but he dislikes this classic approach to discretion. “A stark ‘no comment’ tends to come across like, ‘We’re guilty as hell and don’t want to talk about it until our lawyers have come up with a plausible alibi,’” writes Branson.
Instead, he suggests saying something like, ‘I’m really sorry, but until we gather all the facts, we are not in a position to issue a statement.’
As a leader please consider and like Richard Branson try to avoid the above phrases during speeches, meetings, and presentations
Remember, words contain power and will set the scene and direction for those who follow your lead.
All the best with your leadership!
Posted in
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by effectivecommunication.com.au
Wednesday, March 18, 2015
SALES - 10 REASONS WHY LEADERSHIP IN SALES IS IMPORTANT
Sales is leadership and leadership is sales!!!
The impact both sales and leadership have on each other is undeniable
A question we at EffectiveCommunication.com.au are asked oftentimes is why is leadership so important in sales.
Here are 10 quick reasons why:
1. People want to be around leaders. If you are going to sell effectively, your clients must see you as a leader.
2. Demonstrating leadership commands respect. Clients will only refer you to others if they respect you.
3. True leadership results from having integrity. Clients will only deal with salespeople they can trust.
4. Being a leader changes how you look at things. When you are demonstrating leadership, you see things differently and in turn are more capable of truly understanding how to help your clients.
5. Being a leader creates confidence. The level of confidence you have going into a sales call is going to determine the level of success you have.
6. Leaders are continually learning. When you’re a leader, you are far more receptive to learn new things. Sales requires keen insights on not just what is happening today, but also on what could happen tomorrow. Failing to continually learn will quickly put you behind the curve in being able to help your clients.
7. Leaders are less emotional and less likely to be swayed by fads. Leaders are not going to be impacted negatively by shifts in other people’s emotions or in passing fads. Rather, they know how to deal with these types of issues in a constructive manner.
8. Leaders plan and are goal oriented. Clients want to deal with salespeople who are prepared. Conversely, as a salesperson, when you plan and are goal oriented, you will be in a position to optimise your time and resources.
9. Leaders are able to get more accomplished from others. A salesperson’s success is driven by the team they have supporting them. A salesperson who is seen as a leader is going to receive far more support from their client service team and others than the salesperson who is not seen as a leader.
10. Leaders are more successful. At the end of the day, don’t you want to be as successful as you can? Successful people are attracted to successful people. The more you demonstrate leadership and success, the more you will find yourself dealing with equally successful people.
Finally, living a life as a leader is far more stimulating and exciting than living a life as a follower.
Would you prefer to be the one who takes pride in impacting others or would you rather be the one being impacted?
All the best when selling!!!
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by effectivecommunication.com.au
LEADERSHIP - 6 SKILLS EVERY LEADER MUST APPLY WHEN MENTORING OTHERS
“The mediocre leader tells. The good leader explains. The superior leader demonstrates. The great leader inspires.” - William Arthur Ward
When you are leading others it is important to keep your mentoree on track. Here are 6 important things you should know and practice:
1. Identify mentoring goals upfront
Leading is an exploration of potential and how to improve performance. Like all great explorers your mentoree will need to have some goals to keep them on track. Begin the mentoring by helping your mentoree define what they would like to achieve and set a few specific goals around this. This will help both you and your mentoree stay more focused and not wander too far off track.
2. Use questions to focus discussions
Rather than tell your mentoree how they should think and behave use questions to guide the discussion and their thinking. Questions are very powerful and you will make your mentoree think by using probing open questions. Don’t rely on closed questions such as those with a “yes” or “no” answer. Open questions are far more challenging.
3. Listen don’t lecture
You may be the fount of all wisdom but your role as a mentor is not to lecture your mentoree. Listen carefully to them and engage in conversation and discussion. The mentoree should be the focus of the mentoring session. By all means give advice but always try to draw ideas out of the mentoree themselves. The mentoree needs to have ownership of the ideas discussed.
4. Don’t do the work for the mentoree
As soon as the has discussed an issue with a leader, many leaders explain exactly what should be done and how it should be done in great detail. The explanations may be clear and accurate but the problem is that the leader does all the thinking. The aim of leading is to enable the mentoree to make decisions and work out the best path. Of course sometimes a leader will need to take off their mentoring hat and explain what to do. The problem arises when the leader does all the work of thinking things through. As a leader you are a guide but the mentoree is the explorer!
5. Keep raising the bar
As a successful leader you will want to challenge your mentoree to keep raising the bar. Guide them to improve what they are doing and encourage innovation and learning new and better ways of doing things.
6. Review progress and celebrate achievements
Finally take a little time in each mentoring session to review progress. Where there are improvements celebrate these successes with your mentoree and give positive feedback……..and don’t forget to celebrate your own success as a leader!!!
All the best with your leadership!
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by effectivecommunication.com.au
Thursday, November 6, 2014
LEADERSHIP - TIPS TO MOTIVATE EMPLOYEES
One of the most frequent leadership questions EffectiveCommunication.com.au (EC) is asked is: “How can I motivate my employees?”
There is no simple answer to this question, especially since motivation comes from inside us. Therefore, what we believe leaders are really asking is: “What actions can I take and what environment can I create that will unleash my team’s potential and create positive energy?”
Now, that is a question to which we have many suggestions. There are ten (10) of them we would like to share with you within this and our next newsletter. Here are the first five (5):
There is no simple answer to this question, especially since motivation comes from inside us. Therefore, what we believe leaders are really asking is: “What actions can I take and what environment can I create that will unleash my team’s potential and create positive energy?”
Now, that is a question to which we have many suggestions. There are ten (10) of them we would like to share with you within this and our next newsletter. Here are the first five (5):
1. Expect A Lot
The best leaders we know have very high expectations for team members. They expect them to work smart, get along with their colleagues, and produce world-class results.
High performing team members are inspired by this type of leader and this type of atmosphere. If you want a mediocre team, have laisse-faire goals and be self-centered.
If you want a motivated and successful team, share your expectations frequently and always expect excellence.
2. Lavish Praise
Have you ever seen a six year old light up because someone told them they just did something wonderful? It is a beautiful sight. Now, we are not implying that you work with a bunch of six year olds. What we are asking is this: Since we have grown up, have we really changed that much with regard to what energises us? We think not. Therefore, recognise the Herculean efforts of your people and lavish praise upon them. Are they just doing their jobs? Well, if your employees are doing it right, let them know you appreciate it. And share your praise in an authentic and appreciative way.
3. Delegate Tasty Projects
Nothing motives team members (particularly high performers) quite like entrusting them with an important initiative. The trust and confidence that is built when delegating something important is priceless. Not only does effective delegation motivate employees, but it serves as a great mechanism for developing their skills.
When delegating, make certain to communicate the specific time frame in which you expect completion. Also, if you want to receive an update, ask for one.
Effective delegators clearly state what resources are available and if they have any availability to help out along the way.
4. Communicate Like Crazy
Leaders who clearly communicate “The State of The Workplace” on a frequent basis effectively kill the grapevine. That’s right, the more you communicate what is going on, the less gossip will be experienced in your organisation. This is a good thing because gossip and the garbage that it spreads creates distractions and de-motivation. By crushing the grapevine, you motivate your team and effectively increase productivity.
5. Demand Innovation
Do not just encourage innovation, demand it. We live in a quickly changing work world. The more forward-thinking your team members, the better your organisation will be served. So many of the innovative answers you seek are right under your nose. Dust off that suggestion box and encourage people to share ideas. Do not make fun of the crazy ideas you come across. Nurture the individual and collective creativity that your team members possess.
A million dollar idea awaits. It is the leader’s job to coax innovation into the open
Bottom Line: Motivation comes from within us. As such, the best leaders find ways to unlock more of what team members have inside them. The more you communicate, delegate, and celebrate the more your team will be pointed in a positive direction. In the process, share your vision and praise. And always maintain high expectations. In the end, your efforts will be richly rewarded as team members strive to achieve great results, remain engaged to your mission, and experience self-satisfaction on their journey.
Look out for our next newsletter for the next five (5) tips
All the best with your leadership!
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by effectivecommunication.com.au
Friday, October 3, 2014
LEADERSHIP - SIX RULES FOR SOLVING WORKPLACE PROBLEMS?
Gerald is a seasoned leader who manages 16 professionals. He has two team members who are supervisors, so he has some management support.
Like so many teams, 20% of Gerald's people are performance superstars. About 70% of the team meets the expectations of their job. The remaining 10%, however, are problem-children.
Sometimes their performance is sub-standard. Other times their behavior is disruptive. The organisation that Gerald's team is a part of is vibrant and growing, and experiencing rapid change. While the organizational change that is occurring holds many positives, it is not without hiccups along the way. In other words, the workplace in which Gerald leads is fast-paced, complicated, achievement-oriented, and fraught with problems (from time-to-time).
At one point in his career, Gerald used to shrug his shoulders when faced with problems. In fact, one of the first questions he would ask was "Who messed up this time?"
While there was some levity to Gerald's comment, it also set the tone for a witch hunt. It is common for leaders to seek to identify the person or group who caused a problem in the workplace. Often times, a better course of action is to engage in a problem-solving process.
Over the years, Gerald created six rules for solving workplace problems.
- Keep calm & carry on
Everyone messes up once in a while. Sometimes people need a free pass, while other times progressive discipline is required. Do not start a witch hunt when faced with a problem situation.
Remain as calm as possible and seek to find the root cause of the issue.
- Practice self-control
This really pertains to the first point, however, it deserves to be highlighted. Before Gerald was a leader he had the luxury of jumping to conclusions and engaging in finger-pointing.
Well, a funny thing happened along the way to great leadership. Gerald lost all sorts of "rights." Gerald read a great piece on leadership that Colin Powell wrote a dozen years ago. Powell stated that leaders lose the right to be one of the crowd, and to slam their door, and to choose favorites, etc.
As Gerald experienced the process of losing these rights, he actually elevated his level of self-control. Gerald believes strongly that when a problem sends a workgroup into chaos it is because the leader of the group does not possess sufficient self-control.
- Be conversational not interrogational
When Gerald was a newer leader and a problem would occur, he would turn into a fact-finding machine and start firing questions: "What," "How," "Why?" While all of Gerald's questions were open-ended in nature, his tone of voice was often accusatory.
As a result, Gerald's questions would be answered with minimal information because people were anxious for the interrogation to end. Over time, Gerald softened his tone of voice in an effort to come across as more conversational. In addition, he began to start his open-ended questions with phrases such as: "Tell me about," "Share with me," and "Help me understand."
Gerald's conversational approach has delivered significantly better results. Not only from a problem-solving standpoint, but also from a long-term rapport standpoint.
Gerald now leaves little wreckage in his wake during the problem-solving process.
- Collaborate don't conflict
Early in his leadership career, when problems were caused by another area of the company, Gerald would get fired up and embrace a mindset of "Us vs. Them" While this brought short-term satisfaction to Gerald and his team, he learned that this behavior fostered long-term conflict.
Invariably Gerald's team would cause a problem, and other areas of the organisation would be quick to jump on their folly. These days, Gerald seeks to collaborate with other areas of the organisation. In fact, when Gerald's team uncovers a problem caused by another area of the company, they reach out and offer to work with their colleagues to resolve the issue. There is no finger-pointing, rather, there is professional communication and collaborative action.
- Enhance the process
Years ago, Gerald read an article entitled ‘The Process of Winning’. It highlighted how Nick Saban, the football coach of Alabama is focused less on winning and more on processes.
Gerald embraced some of the concepts of the article. As a result, after his team experiences and resolves a problem, they examine their process and determine what needs to be enhanced.
Gerald has helped his team become process-focused. Not so that they are robotic in the workplace. Rather, so that they can easily self-examine and continually raise their bar of excellence.
- Communicate the culture
It has taken Gerald years to refine his problem-solving best practices. In addition, he is committed to having his entire team embrace a logical, cool-headed means to problem-solving. As such, Gerald seeks to lead by example and to share the expectation that his team will be good problem-solvers.
In other words, Gerald strives to make effective problem-solving part of the culture of his organisation. While problem-solving can be part of a strategy, Gerald has come to realise that the culture of an organisation trumps strategy every day.
Bottom Line
When problems occur in the workplace, emotions are easily stirred. The best leaders are able to maintain self-control during times of crisis. They do not go on witch hunts and they seek to be collaborative with other areas of the organisation.
Good leaders also ask great questions. In the process, they come across as conversational as opposed to interrogational.
Lastly, solid leaders nurture the culture of their organisations. They communicate the importance of level-headed problem-solving, and execute problem-solving in a practical way.
All the best with your leadership!
In other words, Gerald strives to make effective problem-solving part of the culture of his organisation. While problem-solving can be part of a strategy, Gerald has come to realise that the culture of an organisation trumps strategy every day.
Bottom Line
When problems occur in the workplace, emotions are easily stirred. The best leaders are able to maintain self-control during times of crisis. They do not go on witch hunts and they seek to be collaborative with other areas of the organisation.
Good leaders also ask great questions. In the process, they come across as conversational as opposed to interrogational.
Lastly, solid leaders nurture the culture of their organisations. They communicate the importance of level-headed problem-solving, and execute problem-solving in a practical way.
All the best with your leadership!
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by effectivecommunication.com.au
LEADERSHIP - ARE YOU A DISRUPTIVE LEADER?
The question is not asking if you are a trouble-maker or have a disruptive personality. The question asks if your organization has disrupted or is in the midst of disrupting the marketplace in which you operate.
Market disruption is usually accomplished via innovation. In fact, disruptive innovation is a force that creates a new market or so drastically disrupts an existing market that it overhauls the industry or replaces an earlier technology. Like the i-Phone and how it revolutionized the cell phone industry or Craigslist and how it obliterated Classified Ads.
Perhaps you are thinking that your organization simply enjoys operating in your particular industry. In fact, competition is so fierce that there is little time to reinvent your business, let alone an entire industry. On the surface this thinking is pragmatic. However, if you are not engaging in some serious strategic planning at least every two years, you can guarantee that there are certain segments of your business (operations, market opportunity, technology, efficiencies, etc.) that could be improved – and disrupted in the process.
When Steve Jobs and Apple moved to disrupt the cell phone industry, they focused on three areas (just three): Design, functionality, and consumer experience. All three of the areas were under-serving the consumer.
First of all, the customer had become complacent about the design of their phone. There was no sizzle in the design of a cell phone and the consumer no longer cared. Secondly, the functionality of cell phones was ho-hum. There were no energizing bells and whistles. Lastly, the consumer experience bland and frustrating as opposed to awe-inspiring.
By recognizing three simple areas in which to improve, the Apple/Jobs continuum created a game-changing product. Simultaneously, Apple’s achievement sent an industry into a frenzy as competitors struggled to reshape their thinking, reengineer their offerings, and keep pace with a new market leader.
There is much to learn from the history of market disruption. If you are a savvy leader you may want to ask yourself four questions, as well as ponder four corresponding opportunities:
What areas of my organization are, at best, average?
Opportunity: Examine the policies and procedures or your organization. Knock down walls that are holding back the creativity of your team members. Seek to heighten the level of team member engagement that exists in your organization.
What portions of my industry lack sizzle and appeal?
Opportunity: Look for strategic areas within your marketplace in which to reinvent or innovate. As you drive innovation, make certain that you are quick to market.
When consumers purchase my products and services are they delighted by what they experience?
Opportunity: Elevate the level of customer experience that your organization provides to the consumer. Compare your organization against some of the best customer experience providers in the world. How do you stack up? What is the difference?
Does my organization’s mission statement, vision statement, and core values properly align with our value proposition and reason for existing?
Opportunity: Engage your team in some offsite strategic planning and revisit your organization’s guiding principles. Reinforce your beliefs while simultaneously opening the door to new, potentially game-changing ideas.
Leaders, be disruptive!!! Reinvent your organization on a regular basis. Examine your mission, vision, and values and make certain they align with your noble purpose. In the process you will lead innovations that will improve your product, enhance the customer experience, and alter the marketplace in your favor.
Do not be shy. Rather, be bold. Think boldly, create fearlessly, and above all, act!!!
All the best with your leadership!
Market disruption is usually accomplished via innovation. In fact, disruptive innovation is a force that creates a new market or so drastically disrupts an existing market that it overhauls the industry or replaces an earlier technology. Like the i-Phone and how it revolutionized the cell phone industry or Craigslist and how it obliterated Classified Ads.
Perhaps you are thinking that your organization simply enjoys operating in your particular industry. In fact, competition is so fierce that there is little time to reinvent your business, let alone an entire industry. On the surface this thinking is pragmatic. However, if you are not engaging in some serious strategic planning at least every two years, you can guarantee that there are certain segments of your business (operations, market opportunity, technology, efficiencies, etc.) that could be improved – and disrupted in the process.
When Steve Jobs and Apple moved to disrupt the cell phone industry, they focused on three areas (just three): Design, functionality, and consumer experience. All three of the areas were under-serving the consumer.
First of all, the customer had become complacent about the design of their phone. There was no sizzle in the design of a cell phone and the consumer no longer cared. Secondly, the functionality of cell phones was ho-hum. There were no energizing bells and whistles. Lastly, the consumer experience bland and frustrating as opposed to awe-inspiring.
By recognizing three simple areas in which to improve, the Apple/Jobs continuum created a game-changing product. Simultaneously, Apple’s achievement sent an industry into a frenzy as competitors struggled to reshape their thinking, reengineer their offerings, and keep pace with a new market leader.
There is much to learn from the history of market disruption. If you are a savvy leader you may want to ask yourself four questions, as well as ponder four corresponding opportunities:
What areas of my organization are, at best, average?
Opportunity: Examine the policies and procedures or your organization. Knock down walls that are holding back the creativity of your team members. Seek to heighten the level of team member engagement that exists in your organization.
What portions of my industry lack sizzle and appeal?
Opportunity: Look for strategic areas within your marketplace in which to reinvent or innovate. As you drive innovation, make certain that you are quick to market.
When consumers purchase my products and services are they delighted by what they experience?
Opportunity: Elevate the level of customer experience that your organization provides to the consumer. Compare your organization against some of the best customer experience providers in the world. How do you stack up? What is the difference?
Does my organization’s mission statement, vision statement, and core values properly align with our value proposition and reason for existing?
Opportunity: Engage your team in some offsite strategic planning and revisit your organization’s guiding principles. Reinforce your beliefs while simultaneously opening the door to new, potentially game-changing ideas.
Leaders, be disruptive!!! Reinvent your organization on a regular basis. Examine your mission, vision, and values and make certain they align with your noble purpose. In the process you will lead innovations that will improve your product, enhance the customer experience, and alter the marketplace in your favor.
Do not be shy. Rather, be bold. Think boldly, create fearlessly, and above all, act!!!
All the best with your leadership!
Posted in
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Leadership,
Leadership coaching
by effectivecommunication.com.au
LEGENDARY LEADERSHIP
An all-time favorite baseball player is Babe Ruth
Everybody with a slight interest in baseball remembers the Babe as an incredible hitter. He hit 714 home runs in an era when 300 career homers was outstanding.
Babe was not a one-dimensional player, either. He was an incredible pitcher who won 94 major league games (94-46 lifetime – not bad!). It was his slugging, however, that made him a legend.
So how do legends think? What actions lead to their success?
“Never let the fear of striking out get in your way,” Babe would say. His philosophy was simple: “Every strike brings me closer to the next home run.” He was also well known for taking pitchers on and not backing away from intimidating hurlers. The majority of his career he wore Yankee pinstripes, but during off hours he was known to be quite dapper. He could afford to look dapper, he negotiated the best paying contract in baseball.
There are lessons for successful leaders in the words, actions, and achievements of Babe Ruth. Let’s take a look at five qualities to consider:
1. Do not be afraid to make mistakes
If you are not making errors you are probably not leading aggressively enough. Leaders cannot afford to make a lot of mistakes, but each mistake you experience helps you learn and brings you closer to breakthroughs that will make positive differences.
2. Take people on
When you or your team is faced with a situation when you are being wronged, speak up and do not accept a raw deal. Babe Ruth faced down fastballs. Leaders get to face down adversarial personalities. When the timing is right, get gutsy, and be able to do so in a strategic manner and on a moment’s notice. Can this trait be learned? The answer is “yes.” Keep in mind though, it takes a lot of work to come across as a sharp person who is gaining clarity on a situation, as opposed to a combative jerk.
3. Possess diverse talent
Just as Babe could pitch and hit, you have to wield a variety of styles as you effectively lead your people. As you leaden array of different personalities you will also be faced with challenging leadership situations. Do not be one-dimensional and just a home run hitter. Engage in leadership development initiatives that expand your leadership capabilities and assist you in operating effectively in complex situations.
4. Negotiate
In 1927 Babe Ruth’s contract was more than 10 times greater than other top players. In fact, his compensation exceeded that of the president of the United States! When asked about the latter fact, Babe quickly replied, “I had a better year than the President.” In short, Babe was able to sell himself. Likewise, effective leaders are able to sell their ideas, their vision, and their team’s accomplishments. In the process, they negotiate terms and conditions that are favourable to their organisation. If you are uncomfortable with negotiating, get comfortable! It is a necessary and admirable skill.
5. Be polished
Babe was a dapper guy with a persona that created followership. Let your sound leadership capabilities create followership for you. In addition, enhance your leadership image by dressing professionally, staying fit, and being well-groomed. Your attire and style should match your organization’s culture. Also, nice shoes coupled with excellent table manners always help image and success.
Bottom Line
Babe Ruth was affectionately known, was a baseball legend. He possessed talent, grit, vision, and spirit. He was undaunted when faced with failure. He was confident in his abilities to achieve goals. He won, and he won big.
As you lead your team, remember the good qualities of Babe. Lead with confidence. Do not fear striking out – just do not do it too much. Take responsibility for the success of your team, and applaud them when they soar. Look professional, and boldly lead in tough situations. The next thing you know you will be hitting the long ball. There it goes, over the wall. Now round the bases and give your team a tip of your cap.
All the best with your leadership!
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by effectivecommunication.com.au
LEADERSHIP - US NAVY SEAL PRINCIPLES TO HELP YOUR BUSINESS
Last week the University of Texas at Austin invited a US Special Forces 36 year Navy Seal named William McRaven to give a commencement address.
Whilst Admiral McRaven's presentation was aimed at equipping and empowering the next generation of leaders, the ten (10) principles he shared can easily be used by you & your team in business.
To view this impressive and beneficial online video presentation, you are welcome to click on this link.
All the best with your leadership!
Posted in
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by effectivecommunication.com.au
Tuesday, July 23, 2013
What Is Your Flight Plan For Business Growth - Part 4
How To
Increase Your Number Of Sales Per Client
Stock Brokers offer occasional initial public offerings (IPOs) to select clients.
Clothing
stores offer "by invitation only" events for preferred clients
Auction houses
offer "by invitation only" events for preferred clients
Jewelry stores
offer "by invitation only" events for preferred clients
Airlines offer
frequent flyer points reflecting the number of times traveled or distances
traveled with them.
Miles
Laboratories published a small cookbook filled exclusively with spicy recipes,
and then gave the book away for free. Why? Miles Laboratories is the maker of
Alka-Seltzer, an antacid digestive pain reliever.
How many
consumer retail stores now offer loyalty cards i.e. 'Buy 9 and gain your 10th
free" etc.
These are not
just random, unrelated business-increasing anecdotes. Each example represents a
well thought out, documented, income increasing principle or leveraging
strategy.
Now you might
be thinking, "My business responsibilities don't include clients and
selling. I'm in the accounting / human resource / quality control / production
department".
Think again
because the fact is, everyone is in sales!!!
Whatever area
you work in and are responsible for, you do have "clients" and you do
need to influence and "sell".
Think within
your organisation. Typically referred to as internal clients / stakeholders,
who might include the head of your department who you might need to influence
and sell towards your project, your proposal, your promotion, your perspective,
your value, or your pay rise.
Your internal
clients might also be those who work under you, and you need to influence and
sell them towards giving their best, meeting a deadline, thinking out of the box
etc.
Your internal
clients might also be people in other departments who could aid you etc.
Think external
to your organisation. How many vendors, complimentary companies or future
employees do you have to influence and sell to?
When you read
the phrase "selling your product or service", don't just think in
terms of products and services your company sells. In addition, think of your
individual and intangible personal product or service, yes - YOU!!!
You will need
to influence and sell to others your ideas in order to advance your career,
gain more respect and increase your success and income.
All the
success strategies EffectiveCommunication.com.au
shares with you are designed to raise you above your competition. If you work
for a company, you have your company's competition to contend with. You also
have your personal competition - the person down the corridor who you are
competing with for your next big promotion. Or the person who just sent their
resume to Human Resources because they want your job.
Look out for
our future success strategies, which will help you to better influence and make
that sale.
All the best with your business!
If you would like to discuss how to improve your organisations capability in the areas of Leadership, Communication, Presentation & Sales then simply contact us for a complimentary, no obligation conversation.
Go to www.EffectiveCommunication.com.au to find out more
Posted in
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Wednesday, June 19, 2013
WHAT IS YOUR FLIGHT PLAN FOR BUSINESS GROWTH? - Part 2
How To
Increase Your Number Of Clients
It is interesting how many companies when income curves become stagnant tend to whip sales & account management teams to do more of the same, when better incentives might be the simple solution.
For example, a company experiencing income stagnation applied a compensation program that paid the sales person 10% of the profit per sale. So when a $1,000 sale was made the company retained $900 whilst the sales person was compensated with $100.
Upon consultation the company calculated the following 3 simple questions:
- Average worth of
first purchase from new client?
- Average number of
times new client will purchase in the first year?
- Average number of
years client will continue to purchase?
The company responded...
- Average profit of
$200 for each new client first purchase of which the company kept $180
& compensated the salesperson with $20
- Average number of
purchases per year was 5
- Average number of
years new client continued to purchase was 3
Based on this the company accumulated approximately $3,000 profit over the average lifetime of a new client of which the company kept $2,700 and compensated the salesperson with $300.
Upon further consultation, the company was advised to:
- Compensate the salesperson with
100% of the profit from every first sale they produce
- Compensate salesperson with 10%
of every ongoing purchase from new client
- 10% ongoing compensation to
continue ONLY if salesperson maintained new client to continue average
purchases (5 x per year over 3 years)
What do you think happened?
First, the salesperson was compensated $200 instead of $20 for every new clients sale therefore, the sales team was 9 x more motivated
Second, the life time value of each new client was worth approximately $3,000 therefore, with this strategy the company now keeps $2,520 and compensates the salesperson with $480
Ultimately, with the sales team greater motivated, the company TRIPLED it's number of new clients in only 9 months!!!
Evidently there are many additional ways to increase your number of clients and so, look out for our next newsletters.
All the best with your business!
If you would like to discuss how to improve your organisations capability in the areas of Leadership, Communication, Presentation & Sales then simply contact us for a complimentary, no obligation conversation.
Go to www.EffectiveCommunication.com.au to find out more
Posted in
communication coaching,
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presentation coaching,
Presentation Training,
sales coaching,
Sales Training,
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by effectivecommunication.com.au
