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Category: Tips

How to Avoid the Dreaded Sales Trap

Here’s the sad truth: most business presentations are completely irrelevant. They normally go something like this. The prospective customer asks something like: “So, what can you do for us?” We feel compelled to answer, so we launch into an amazing presentation so full of impressive facts about what we do, that we even ‘wow’ ourselves. The meeting concludes, everyone is enthused, and we’re convinced we’re going to make a sale. Days, maybe weeks go by. The phone doesn’t ring and no sale gets made. We can’t figure out what went wrong, it all looked so good.

Sometimes even the most compelling presentation fails to hit the mark because it was made way to early in the process. Even the most captivating presentation made at the wrong time can be your biggest detriment to success. It’s usually made before we understand with any depth where the client is coming from and what they really need. Remember: every customer buys for their own reason and people buy outcomes. We were so busy telling them how great we are that we never got around to understanding their underlying “why” and the outcome they were after. In a word…we were irrelevant.

Simply begin by trying to discover what your client actually needs and wants. All you need to do is ask them. When that happens you’ll know how to present it and you’ll be positioned as a trusted, relevant potential partner who understands them. Ditch the pitch and get to a place of mutual understanding. Selling is a conversation, not a pitch or an interrogation.

Written by Howard Olsen, iB’s Sales Whisperer. Visit his website here.

You might also be interested in reading about how to be successful in business abroad…specifically, Italy. Click here to view the post.

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How To Be Successful in Business Abroad

There’s plenty to be said about being a guest, having guests over, treating customers like ‘guests’, etc. One of the often overlooked types of guest is the kind living in a foreign country. International companies often fail to understand the importance of this small detail when transferring employees.

Being a guest means you can’t expect your host country to work exactly like your home country does. You must learn new customs and etiquette, which will allow you to accomplish your goals much more quickly.

An example of this is when I moved to Italy from North America. In the USA and Canada, time is considered a valuable commodity. My Italian business colleagues, however, would never commit to a fixed time for a meeting. They would always say, ‘We’ll meet around that time.’ They’d allow a 15 minute grace period, which in turn, gave everyone a chance to get there, get settled, etc.

Also, meetings never began with a business discussion. Family, the football game, politics, and anything else would be brought up first. This would allow us to get to know one another. Just before closing the meeting, business would be wrapped up. Much patience was required to learn this custom, but once I did — by being a good guest — I was respected and went on to achieve results.

It’s very simple: know your place, adapt, show respect, be humble. You are the guest.

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Written by Manfred Vollmer, institute B’s VP of Fun & Fruition

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How To Engage Employees With Inspiration

Magellan circled the globe, landing on the coast of South America, staying there long enough to meet the native people. Through sign language they asked Magellan, ‘How did you get here?’ Standing on the beach, he pointed out to his ships saying, ‘On those ships.’ The people, after looking out into the harbor, said, ‘What ships?’

Where were the ships?

Most companies think that they can see the new vision or strategy, like pointing out to the harbor, and everyone will see what they are saying and act consistently with it. No way!

To engage people requires creating ways for people to begin unlocking the grip the past has on their lives and on their organizations; opening people up to their capacities to create, to invent, and to stand for a new future when the only evidence they have is in their creation itself. And finally, it requires working with people to build reliable pathways to translate their created ideas into action and results with velocity.

-Bix Bickson, iB’s Director of Mojofication

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Creating Societal Value Builds Markets

Thought of the day: adding societal value CREATES markets for corporations.

One example: lululemon helps foster entrepreneurs in the health and fitness industry through various community programs. Quite a few gyms, studios, and fitness providers have acknowledged that lululemon has significantly contributed to their ability to promote health in their communities. How? Through its sponsored employee fitness allowance that provides full time employees with two free classes per week in studios in their local communities. As well, there are many stories of mat and accessory donations to various gyms and schools. It is simple math: more people who go to yoga and the gym mean more people need workout gear.

Every lululemon store has a charity budget with a mandate of finding a local charity to help enhance their local neighbourhood. Furthermore, during this last recession in 2009 and 2010, lululemon stores offered additional free fitness classes in the stores, not fewer. When people most craved the health benefits of yoga and fitness, lululemon stepped up to the plate. Whereas many old school corporations may find this as an unnecessary expenditure or marketing expense, lululemon calls it the right thing to do given its vision statement of ‘elevating the world from mediocrity to greatness’. Results: sales were up during the recession and $100 million was added to the coffers during the worst recession in modern history.

Question: how can you entrench the new skool behavior of adding societal value throughout your value chain? And how can that impact the marketplace in which you operate

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Institute B’s New Skool Biz Tip #1: Yodeling

How do new skool entrepreneurs break during long meetings? Here’s our VP of Fun & Fruition, Manfred Vollmer, with a demonstration for you.

For more useful business-related ideas, follow us on Twitter here.

Yodeloidi!

EI

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