Tag Archives: associations

5 Steps: When You DON’T Make the Sale

9 Mar

You’ve spent a lot of time and energy working on a prospective client proposal and presentation. Then you learn that you didn’t win the bid. After you overcome your disappointment, what do you do next?

Below are the 5 Steps to take when you DON’T make the sale:

  1. Contact the client to learn which company they selected and what the “tipping points” were for the selection. Letting the client know that you merely want to learn if there are any areas of growth or consideration that you and your colleagues can improve upon for the future. Be sincere and authentic in your desire to get their feedback and suggestions.
  2. Evaluate the selection criteria from step 1 above. It’s important to determine if any of the selection criteria are areas you can improve upon, change, or are simply are beyond your control. You can learn a lot from your “losses.” Do you see a trend in the reason you’re losing business? Is the trend something that can be changed or is it a fixed trend.

    Example: If you are in hotel sales and you lose business because of your location, you can’t change that – but you may be able to find positives in your location to counter the client’s objections. However, if you lose business because you don’t include breakfast in your room rate, that’s a fairly simple fix.

  3. Establish an internal “trace date” to follow-up with the client based on benchmark dates: (1) If it’s a meeting planning contract, contact the client 30-days after the event to touch base on their event. (2) If it’s an annual contract, contact the client 90-days prior to the end of the contract term to determine level of satisfaction. (3) If it’s the sale of a product or service, contact the client 30-days after purchase to gage satisfaction.
  4. Create a Google Alert under the client’s name to follow their progress, company news, and press releases. Staying on top of a prospective client’s news opens opportunities for you to drop them a congratulatory note for a positive outcome in their company or a door opening for you to approach them with a new product.
  5. Maintain communications long after the initial “loss” is over. Given the Internet resources currently available, it’s easy to find ways to maintain communications with a prospect:
    • Connect with them on LinkedIn
    • Subscribe to their company’s blog or RSS feed
    • Create a “Stock Alert” (if they are a public company) to follow upswing in their company that may open new opportunities for you.

“Losing is only temporary and not all-encompassing. You must simply study it, learn from it, and try hard not to lose the same way again…” — John Wooden, Legendary UCLA Basketball Coach

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Top 5 Reasons an M.A. in English is Useful in Business

26 Feb

People often ask me if I think my Master’s Degree in English is useful in business. I find it a curious question since the answer seems so obvious to me. However, since it’s asked so frequently, I’m offering the following top five reasons:

  1. Communication Skills: My coursework improved my written and oral communication skills. When you’re pursuing your M.A. in English, you learn to write clear, concise, well-documented research. You also learn to orally communicate your arguments in classroom discussions with peers and professors. It’s one thing to have an opinion and another to be able to clearly and cogently discuss it with others. And, whether you’re writing emails, blogs, or reports for your colleagues, these skills are timeless.
  1. Critical Thinking Skills: Writing, research, and critical analysis are the foundations of a master’s degree. You learn how to accept constructive criticism of your work and use that criticism to improve and grow. You learn how to conduct research, organize that research, and then use inductive and deductive skills to facilitate an outcome. Regardless of your business environment, this is a skill set that transfers beyond the classroom.
  1. Consideration of Varying Viewpoints: An essential foundation in the study of English literature is literary theory and criticism. Literary theory is the systematic study of the nature of literature and of the methods for its analysis. By studying the many schools of literary theory you learn to view literary works through a variety of lenses. Learning to analyze information from many different perspectives offers the opportunity to grow your thought processes. Understanding the various schools of thought translates into the ability to do so in the business world. You learn to be open to new business models and methodologies.
  1. Commitment to Long-term Goals: One of the most arduous tasks a student will undertake is the research, writing, and presentation of their master’s thesis. The process generally begins as you reach the final semester of your coursework. The length of time it takes to complete your master’s thesis will vary — but it always takes longer than you think. I was given great advice by my thesis chair to, “pick a topic/writer you feel you can live with for the next year or two.” As in business, you may not enjoy every task your job requires, but if you’re pursuing your passion, it makes it all worthwhile.
  1. Conceptual Thinking Skills: Individuals who have strong conceptual skills typically have excellent cognitive abilities. These skills include thinking creatively, formulating abstractions, and analyzing complex situations as well as understanding issues and solving problems. Conceptual skills allow a manager to visualize the entire organization and work with ideas and the relationships between abstract concepts. It also enables an effective manager to weed out those variables that are inefficient and/or detrimental to a successful outcome.

Confessions of a Podcast Addict

6 Feb

It started as most addictions do – slowly, stealthily slithering into my day. It began with just 10-15 minutes before work – then, another 20 minutes during lunch. By the end of the day, it consumed my entire commute home from work. And, before I realized it, I was spending my weekends mainlining it like a two-bit junkie – my iPhone ear buds snuggled comfortably in my ears as I listened hours on end to multiple episodes of The Moth, This American Life, Welcome to Night Vale, and Serial. I now confess…I’m a podcast addict! Since the beginning of time, we yearn for engagement in a great story and interesting characters – It’s the reason we’ve loved to read a good book or watch a great movie. Now, we have new ways to consume these stories.

Podcasts provide modern mobility for on-demand storytelling in a format with few boundaries – They’re working their way into our mainstream digital media and opening doors to new audiences one download at a time. Businesses, non-profit organizations, and entrepreneurs are podcasting their content to new audiences around the world. They now have this new tool in their arsenal to expand the reach of their brands, deepen their customer engagement, and further their knowledge leadership. Everyone has a story to tell and everyone enjoys listening to a great story. Using podcast technology to share your story can be a powerful resource…use it wisely.

Top 4 Sales Tips for Success

28 Jan

While there are many great tips for increasing your effectiveness as a sales person, these consistently prove to be among the top 4 sales tips.

  1. Demonstrate Respect
    When you take the time to learn a client’s business and her professional needs, you’re demonstrating respect for her as a client and a person. This might sound simple, but it is no longer the norm and therefore bears repeating. Given the easy access to information via the web, there really isn’t any excuse for not doing the homework needed before calling. A “cold call” should be “warmer” with our present day access to data.
  2. Respond Promptly
    There is nothing that loses a sale faster than not returning a phone call or email in a timely manner. Understandably, you won’t always have an answer to a client’s questions or share the same sense of urgency that she has, but at least demonstrate “signs of life” when she leaves a message or sends an email. By responding to her call/email, you’re at least acknowledging receipt and providing an estimated time for delivery of the information requested. That said, be sure to meet that deadline with the necessary information and/or a status update.
  3. Communicate Effectively
    Many of you who know me are aware of my personal disdain for written or electronic communication that includes multiple font types, font colors, and font sizes. The most flagrant of these occurs when someone has obviously “copy/pasted” a section of the email from another email or document. If you’re going to do this, at least take the time and demonstrate the professionalism to ensure that ALL fonts are consistent throughout your communication. Failure to do so gives the impression that you are not a person with attention to detail. For me personally, this would make me question your attention to detail in the handling of my business.
  4. Create a Long Term Relationship
    Granted, not every piece of business will be the right fit, at the right time, at the right price. However, the care, respect, and attention given during the sales process will provide future success. If clients are treated as partners in business, they will be more likely to refer others and use your product or services in the future. Customer service is the most frequent differentiating factor in making a sale.

We can automate many processes, but people still do business with people, and there’s not an app for that!

My Five Must-Reads of the Week

26 Jan

While attending conferences, enduring airplane flights, and attending networking events, I’m often asked what my own five must-reads are daily and weekly. So, the curtain is lifted.

These are my five go-to sources:

  1. Inc.com / @SalesForce
    Geoffrey James is a contributing editor at Inc.com, where he writes an award-winning blog. Each article offers bite-size pieces of information that can better your work life.
  2. Fast Company
    Fast Company focuses on progressive business media brand, with editorial focus on innovation in technology, leadership, and design. Fast Company inspires readers to think beyond traditional boundaries stretching traditional boundaries to create the future of business.
  3. The Blog of Tim Ferriss – Experiments in Lifestyle Design
    Tim is a writer, lifestyle coach, business advisor, and lifestyle mentor. His books, blog, and podcast offer great tips and hacks for your work life and professional life.
  4. Penelope Trunk
    Penelope is an entrepreneur offering online courses to help you manage your career. She has founded four startups each built with a focus on a community. She documents her experiences in this blog.
  5. HuffPost Small Business
    Featured blog posts, bestseller lists, and reviews. If you’re looking for a quick snapshot of material to pick from each day, look no further.

Let me know what great blogs, articles, or podcasts you can’t do without!

Tell Me Something New!

18 Jan

How many articles do you read that just re-spin the same information over and over again? There are so many questions people have that are just not being answered. So, my intention with this article is different. I ask YOU, what topics you would like to read/learn/hear more about?

  1. What type of business questions would you like answered?
  2. What topics of advice would you like to learn about?
  3. Do you prefer to read articles, listen to podcasts, webinars, or have the option to do both?
  4. Are you interested in learning how to do your current job better or how to transition into a new job or industry?

I am on a quest to learn more about YOU. I want to learn more about the information that YOU and others like YOU are interested in.

Please take a moment to answer the above questions in this survey https://www.surveymonkey.com/s/YTN7KCB. I’m NOT selling anything nor will I be soliciting you afterward. I am sincerely just trying to learn more about the professional curiosities that are important to YOU and your peers.

I will share the results in the next blog post!

 

 

Time to Learn Something New

21 Dec

Each year during the holiday season, we close our offices to recharge our batteries. It’s also a great time to work on side projects that require uninterrupted time; time without phones and drop-in visits from colleagues. I also like to use this time to catch up on my own continuing education. So, what’s on my list this year?

PODCASTING
I started learning how to create podcasts last month. I started slowly at first. I quickly realized it requires my undivided attention. It involves both technical skills and creative skills. Mostly, it requires my time and a quiet office. Therefore, it’s the number one skill on my list that I want to improve upon over the next couple of weeks.

READING
I read all the time. However, there have been some business books on my “to read” list that I haven’t had the time to dig into. These are on my list for the next couple of weeks.

I may not accomplish or master everything on my list, but I know I’ll have a great time trying!

 

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