Business and Money Tips

In response to an earlier article  stating that training is one of the 5 costs that cannot be cut, 3 persons asked me to elaborate how we can ensure that our training is profitable.  There are 3 simple steps to make money from training: Know what you want to learn .  Like I want to learn how to negotiate successfully, so I source for such a training program .  Learn with an objective in mind . When I attend the course on negotiation, I am not interested to learn everything about negotiation, I just want to apply negotiation to my work situation n ow .  Assuming I am a buyer, I want to learn how to get a good deal from supplier without being fooled by them Apply the learning within the next 3 days .  Studies show that unless you apply what you learn within the next 3 days, you will not apply the learning at all.  In fact, people lose money on training in one of these 5 ways , application is the main reason. To ensure that your training is profi...

In our Sales Power and How to Close Every Sale courses, people often asked if there are some techniques that can be applied to all industries, all products and all levels of salespeople.  There are actually 27 common sales techniques, but today let's look at 7 first: Never Sell, but put Service to Others as Your Highest Purpose .  This means taking care of the customer's interest more than your own, like you would rather lose the sale than push the customer to buy something that is not suitable for him. Sales Manager's Close . Here the 'Sales Manager' would help the Sales Executive by highlighting to the customer that the whole process is very simple.  All the customer needs to do is to just sign on the form and everything will be settled Choices of Three , and put the choice you want them to take in the middle.  This is because most people like to take the middle Take the customer's 'No' as 'Need to Know more' and not 'No Opportu...

As a salesperson, you must behave like a consultant so that your prospect will see value in you.  Otherwise, you are seen as a peddler who just want to make the sale.  We all know about sales conversions: how to convert a prospect in to a client and convert a client into a life-long customer. However, there are 3 other Conversions a salesperson must make: 1.  They Must Convert Their Selling Price into an Investment  Price is a cost.  As such, it has a negative value that people will try to pay as little as possible to obtain.  On the other hand, an investment connotes a return.   People are willing to put in money into investment as they know there is a 'Return on Investment' or ROI. How to Convert your price into an Investment?  You must always show what they can get from using your product or service.  As long as that return over the investment gives a double digit return , it is considered a good investment. 2. They Must Conver...