Working Globesmart

Title : Working Globesmart: 12 People Skills for Doing Business Across Borders

Author : Ernest Gundling

Publisher : Davies-Black Publishing, 2003

ISBN : ISBN 0891061770

Pages :345

The Big Idea

Believe it or not, it is easy to create new opportunities for building wealth. In fact, unseen opportunities are passing you by everyday. The only thing you need to do is to look at these overlooked opportunities with fresh eyes and capitalize on them.

Marketing genius Jay Abraham shares with you a program that will help you reach the pinnacle of success. Using the strategies he has utilized as a top advisor to some of America’s top corporations, Jay teaches you how to spot hidden assets and how to use untapped resources to maximize your career and increase your income.

Part 1: How to Maximize What You Have

1. Your Flight Plan

Sometimes, people are just not able to recognize the obvious. For this reason, it took hundreds of years for people to invent the ice cream cone even if ice cream was already in existence. In the same way, it took hundreds of years after bread was invented for people to even think of making a sandwich.

Today, you are surrounded by the same hidden opportunities that can change your income for the better and boost your career. However, you must learn how to look for them.

2. Great Expectations

You must create your own breakthroughs. Breakthroughs are defined as unconventionally fresh, superior and more exciting ways of doing something. Creating your own breakthroughs is the easiest way to achieve success both in business and in life.

You don’t need to be as smart as Bill Gates to create breakthroughs. All you need is an opportunistic attitude. You must be able to look at things with common sense and even more important, be able to take action on the opportunities you see.

Here are some examples of breakthroughs:

1. A hair growing product was developed when it was discovered that an acne product grew hair as a side effect.

2. The roll-on deodorant was inspired by a ball point pen.

3. Nike’s unique sole was developed when the founder of Nike poured rubber over a waffle iron.

Your Fundamental Objectives

Here are some of the fundamental objectives you must focus on when coming up with your breakthrough:

• Always discover what the hidden opportunity is in every situation.
• Try to uncover at least one cash windfall for your business every three months.
• Remember that the more value or wealth you can create for your client, the greater the power of that breakthrough.
• Build business breakthroughs based on multiple streams of idea generation.
• The best breakthroughs take away risk or resistance.

3. How Can You Go Forward If You Don’t Know Which Way You’re Facing?

All businesses must go through strategic analysis. Before you can begin improving a business, you must first know exactly its strengths and weaknesses. You must also know how these strengths and weaknesses relate to the competition. In other words, you must find out where you are at this point in time.

One of the best ways to gain insight into the current state of your business is to answer a set number of questions. These questions will help you evaluate your current standing.

Here are some sample questions:

1. What first got me started in my business or career?

2. Why did clients buy from me then?

3. Why do clients buy from me at the present

4. What was my primary method for generating clients?

5. Which of my marketing efforts brought in the most sales or clients?

4. Your Business Soul - The Strategy of Preeminence

The strategy of preeminence is the ability to put your clients’ needs above your own. If you follow this philosophy, success will be sure to follow. Remember that you must start to serve clients rather than sell to them.

You must give your clients a reason to choose your company for the rest of their lives. To do this, you must take them under your protection. It is not enough that you are able to sell them your product. You must understand and see to their needs.

This also applies to any situation in business. You must be able to solve problems and add value to every task you undertake. Act like a trusted friend to your associates. Focus on providing valuable service. Fall in love with your clients and not your product or services.

5. Break Even Today, Break the Bank Tomorrow

One of the best methods to increase client and revenue growth is to acquire clients at a breakeven (or even a slight loss) and making substantial profits on back-end repurchasing. This will only work, however, if you are engaged in a business that has a high probability of clients coming back to repurchase products or services.

You must be able to give your clients great value and service. Furthermore, you must be able to give your clients the results they want. If you do all these, they will keep coming back. This is the only way to turn a prospect into a lifelong client.

Here are some examples of companies or individuals who are utilizing this strategy:

• The Book-of-the-Month Club that sends 6-12 books for a dollar initially.
• Credit card companies that offer lower interest rates for the first six months.
• Server companies that offer 30 days free service upon sign up.
• An employee who agrees to take on a higher position without an initial raise knowing that in the long term, the employer will pay him or her 30%-100% more.

6. Vive Le Difference

You must be able to stand out among your competitors. Your clients must be able to see why it would be more favorable and advantageous to choose your company.

To make this happen, you must be able to discover your company’s Unique Selling Proposition (USP). Your USP is that distinct, appealing idea that sets your business apart from your competitors. Once you have identified your USP, you must be able to integrate this into all your marketing materials.

Here are some strategies you can use to help you develop a USP:

• Identify needs that are unfulfilled in your industry (e.g. big discounts, speedy service, a wide selection, etc.)
• Preemptive marketing.
• You must come up with something clear and straight-to-the point.

7. Make ‘Em an Offer They Can’t Refuse

The biggest secret to success in both business and career is the ability to maintain the edge in everything you do. One example of a great competitive edge is always making it easier for a client to say yes than no. The only way to do this is by eliminating financial, psychological and emotional risks to any decision-making proposition.

You must be ready to take on the risks yourself. Maybe you can provide your clients with money-back guarantees or service warranties. You must totally and completely guarantee the purchase for your client.

Even more important, you must ensure that you are serious with your offer of a guarantee. You must be sincere. Remember, if you are providing a product or service that is truly of high value, you can’t go wrong when you take on the risk for your client.

8. Would You Like the Left Shoe, Too?

Every time you close a sale, another opportunity arises - the opportunity to make an additional sale. All you need to do is to provide your client a reason to make an additional purchase. Naturally, this reason must be beneficial to your client.

Here are three techniques that you can use and examples of each:

1. Add products and services . Auto dealers give buyers the option to purchase their cards with sunroofs, car phones, stereo systems, etc.

2. Add volume or time options. Magazines who offer 3-year subscriptions for a discounted price.

3. Add combinations. Mcdonald’s complete meals - hamburger, fries and sodas.

9. How to Never Fall off a Cliff

According to the author, anyone can be a marketing genius by doing one simple thing - testing. You must never leave anything to chance. Everything that can produce measurable results can be tested. Therefore, you must start by testing all the major elements in your current business activities.

Here are a few examples of activities that you can subject to testing:

1. Sales presentations

2. Sales letters

3. Advertising

4. Web copy

5. Conduct and attitude of employees

Testing is the key to improvement. Through testing, you can dramatically increase your sales and profits. An example of a good thing to test is your price. Although no one knows for sure why a certain price draws more sales than another, sometimes a $19 price can outsell the same product ten times when it is priced at $17.

Part 2: How to Multiply Your Maximum

10. With a Little Help from My Friends

Acquiring a new client or a prospect is not only difficult - it is also very expensive. Consider getting other people and companies to help you get new clients.

Try to find companies who have built a strong relationship with clients who fit your consumer demographics. Of course, make sure that they are selling a non-competitive product. Contact these businesses and ask them for help in introducing your product or service to their clients. In return, offer them a percentage of the profits from all sales generated through the partnership.

When making a proposal, remind your host that:

• Your products and services do not compete with their products.
• It will not take away income or profit.
• It will increase their profits.
• They do not have to do anything nor do they have to spend anything.
• You will create all the needed marketing materials.
• You will provide an unconditional guarantee to all products sold.

11. Someone You Should Meet

Put together a formal and aggressive referral system. The only way to do this is by showing your current clients how much you care about them.

You must be able to make your clients see and understand how your product or service has made a significant improvement in their business. If you do, they will refer clients to you.

12. The Prodigal Client

The easiest way to instantly increase your current client base is to regain your inactive clients. You must identify how many of your old clients are no longer actively purchasing from your company and why they do. Here are three reasons why people stop buying from you:

• Something totally unrelated to you happened in their life that has caused them to stop dealing with you. They probably have every intention to start dealing with you again but just haven’t gotten around it yet.
• They experienced a problem during their last purchase.
• They can no longer benefit from your product or service.

The best way to reinstate your lost clients is to simply contact them. Make an appointment to visit them or call them if a visit is not possible. You can also choose to send them a letter.

Tell your lost clients that you noticed that they have not been buying from your company and that you sense that something is wrong. Make sure that you communicate both humility and concern. Remember to focus on them and their well-being.

If your client falls under category number one, your call will awaken them into buying again. If your client falls into category number two, you must take the opportunity to tell them how much you value their business and apologize for the problem they encountered. Do something special to make up for the inconvenience they experienced.

13. Your Ten-Thousand-Person Sales Department

Would you like to have a sales force of over ten thousand people who will work for you around the clock without you having to pay them to do so? Believe it or not, direct mail simulates just that.

Direct mail is defined as written material that you use to communicate with prospects and clients. These include sales letters, brochures and proposals. You can send these materials out through e-mail, fax or regular mail.

Put simply, direct mail is a very powerful tool. They can be used to generate new clients and can save you thousands of dollars. After all, direct mail is so much cheaper than actual client visits.

14. Fish Where the Big Fish Are

Do not waste your time trying to bring in clients who are just not interested. Instead, you must learn to target higher-quality prospects. Remember, choose quality over quantity. Go where the money is.

A lot of companies waste time by not qualifying their prospects. Choose to concentrate on people who are qualified to buy our product or service today. Choose people who have the need for your product, have the capacity to pay, and can make the decision immediately.

If you are wondering where you can find a list of high-quality prospects, you might be surprised to learn that there are mailing-list directories that are available of any target audience you wish to reach. You can rent lists that include name, title, job specifications and even the phone number of qualified buyers.

15. Watson, Come Here, I Need You

When used correctly, telemarketing brings a wealth of opportunity. It can also bring adverse consequences when mismanaged. Here are a few telemarketing rules you should adhere to:

1. Start the process by mail. Prepare your prospect by sending a letter or advertisement.

2. Test before you start telemarketing.

3. Price your offer right.

4. Stair-step the telemarketing presentation.

1. Begin conversations by putting the prospect at ease.

2. Present your offer naturally and in a conversational manner.

3. Do not be argumentative or pushy.

4. Be completely honest.

5. Remember that you only have 30 seconds to capture your prospect’s interest.

6. State your name and company’s name clearly and the reason you are calling. Also tell the prospect where you got his/her name or number.

7. State an important benefit of your product and service.

8. Mention a product feature that backs up the benefit.

9. Ask preliminary probing questions

16. Big Profits.Com

The Internet is a powerful and yet different communication and marketing tool. Any company can profit on the Internet. You can sell anything online from gourmet food to consulting services. Although most successful companies are not purely Internet based, many businesses have augmented their income through the use of the Internet.

To successful sell products online, you must:

1. Offer very high-quality products or services that your visitors want.

2. Create a great website that sells effectively

3. Generate high-quality, qualified traffic to your site cost-effectively.

17. Manhattan for $29 Worth of Beads

Business barter is when you trade your products or services for things your business needs. Believe it or not, proper bartering can increase your company’s purchasing power tremendously. Bartering allows you to purchase products and services without having to pay for them until much later.

Bartering creates almost unlimited purchasing power. The good news is, any business has the capacity to barter. A plastic surgeon can barter out facelifts. A furniture manufacturer can barter out office furniture.

18. Leave a Message After the Beep

Communication is the key to a stronger and richer relationship. You must be able to keep continual and meaningful communication with everyone important to our business.

You must find ways to retain and sustain your client transactions and one way to do so is to keep them thinking about you and your company. Do not make the mistake, however, of sending communication materials that simply state how good you are. Instead, offer them a free service review or give advice on how they can get better use out of your product.

19. Somewhere over the Rainbow

You must have a specific and reachable goal to reach success and financial prosperity. Remember that you must choose a goal that is both attainable and yet worthy of your true ability and potential.

Do not be afraid of setting the bar high. The important thing is that the goal must be clear and decisive. Hold yourself accountable for reaching that goal and when you do achieve the goal, set the bar higher.

20. Your Never-Ending Success

Don’t stop at one success alone. If upon using the strategies mentioned above, you are able to make a fantastic windfall for your company, don’t stop there. Focus on bigger successes. Take on greater responsibilities. Remember that to succeed in business, you must undergo a never-ending cycle of improvement and retirement.

21. You Are Richer than You Think

You can succeed in both life and career just by applying the strategies in this book. You must play life to the fullest based on your sense of value. Reflect and find who you are and exactly what you want in life. Then reach towards your goal.

Always remember that you are capable of reaching your goals. You can not reach your goal, however, if you have not yet defined what your goal is. Find out what you want and make sure that you take the path that will lead you straight to what you desire.