The Secret to Your Success in 2014

As 2014 has swiftly arrived, we are brought to that time of the season when most of us take to planning and plotting the next 12 months of our lives. If you’re already considering your to-do lists and new years resolutions, then you’re on the right track, but you’ll need to be careful in making your plans in order to be sure that you’re able to use them to your advantage!

Set Goals

The first rule of making progress in anything you do is setting goals, allowing yourself to always have a finish line in sight. This provides a boost in motivation during those moments when slogging forward seems impossible, giving you something tangible to work towards at every moment.

Whether you’re planning positive changes to your work or personal life, take note of the things that you want to achieve by the end of the year, and what you’ll need to do in order to get there. With these goals firmly in heart and mind, you’ll have just what you need to propel you in the right direction.

But wait…

Set Reasonable Goals

Goals are great, but what if those goals are only barely achievable? Like a high-risk gambler, you stand to gain the most when you meet sky-high expectations, but your chances of any success at all are well below par.

In order to limit your risk of perceived failure, be sure not to aim too high when setting your goals. Take the time to consider your history and your present circumstances, planning to hit milestones that are within reach instead of shooting for the stars and coming up short.

That’s not to say that you’ll never reach the stars, mind you – only that you’ll need to get to them in incremental steps.

Set Reasonable, Incremental Goals

Alright, you’ve got goals set that are useful, reachable, and will serve to take your endeavors to the next level throughout 2014. With the whole year plotted out ahead of you, it may seem that you’re ready to close the books on another successful year planned and get started with the heavy lifting.

 Not so fast.

You may feel particularly pumped up about achieving your goals now, but what about that inevitable day when inspiration is lacking and your goals seem further away than they did the day before? Whether it’s a day, a week, or a month away, that time will come, and you’ve got to narrow your plans even further if you want to get yourself on the right track without fear of hitting a serious bump.

Overarching goals are a necessary thing when you’re taking in the big picture, but life isn’t a big picture; on the contrary, life happens minute by minute, and that means that you’ll also need a more focused view. In order to achieve maximum momentum and build the kind of habits that lead to long-term success, be sure to set incremental goals that take you from point to point towards the place you visualize yourself being at the end of 2014.

No matter what your goals are and what aspect of your life they apply to, good planning and hard work will get you there – good luck!

What are your plans to make 2014 the most successful year of your life? 

Practice Happiness

Practice makes perfect, right? Wrong!

First of all, nothing’s ever perfect. I’d even say you don’t really want anything to be “perfect.” Why not? Well, once you’ve reached it, where else is there to go but backwards or, even worse, nowhere?

No, the point of practice isn’t perfection. We want to strive for perfection, yes, but that’s only going to work if you understand that it’s not just about the destination but the journey as well. That’s why it helps to look at the process when it comes to those outcomes we’re reaching for.Because what would be the point of getting to where you always wanted to be if you’re beat up and worn out by the time you get there? Where’s the happiness in that?

Happiness is a process as much as an outcome. Don’t get me wrong – a hard-earned victory is awesome. But think about it; should happiness in life be restricted to success in finances, or business, or career, or the attainment of goals?

We have all been there at some point in our lives, saying something like, “If only I had [fill in the blank], I’d be so much happier.” Hey, sometimes we may even get whatever it is we think will make us happy, but what usually ends up happening? We’re psyched for a little while—if at all—and then we find out it wasn’t really enough to make us as happy as we thought it would. There’s always more.

You can work your butt off to get to where you want to be by practicing your delivery, your backhand swing, your investment strategies—you can practice anything until you get it down, but that doesn’t mean things are always going to turn out perfectly. Practice doesn’t make perfect.

Practice becomes habit, and habits become permanent unless we consciously change them. We’re practicing something all the time through our habits, even when we’re not really thinking about it. If you practice the thought that “I’ll be happy when [fill in the blank] happens,” then guess what? You’re always delaying your happiness until [fill in the bank] happens. Not because things will never be great, but because you’ve become a master at being unhappy. Unhappiness will be your habit!

You have to practice being happy no matter what is going on in life; whether you win or lose, succeed or experience temporary setbacks, whether everything is the way you have always dreamed or if you are still on the road to your next major destination.

Practice whatever you want to be in the future now. If you want to be more patient and less reactionary, then practice patience now. If you want to be a manager of your own personal wealth, start managing your finances now no matter how much money you earn. If you want to be successful, then practice being successful now. Start small. Engage in things that you’re already good at and challenge yourself to be better, even if it’s just in small increments.

The key is to enjoy the process and the journey. We can have moments of perfection, times where we wouldn’t want a single thing to change, but it’s unfair and unrealistic to ask that of life all the time. But it’s totally within our control to practice being whatever we want to be right now!

T. Harv Eker

When in Winter, Hibernate

Think back to a time in your past—five, 10, 15, or even 20 years ago. Maybe you envisioned a happy future making more money, having more fun, a family of your own, or living in a bigger place than you did previously.

Few things turn out perfectly, but chances are that at least one area of your life saw some growth and improvement. The standards of a 30 or 40-something-year-old adult are going to be necessarily different than those of a late teenager. In that sense, most of us have undergone economic, personal, and career upgrades, even if you might be disappointed with the outcome thus far.

All life on this planet goes through seasons. We’ll experience spring-like blooms, the reaping of summer, the preparations of fall, and the chill and severity that winter brings. These cycles affect us individually and globally. Overall, the world is experiencing something akin to a severe economic winter.

However, if we can remember that we’ve all experienced times of growth and improvement in our individual lives after a period of lack and want, we can re-adjust back to a mindset that focuses on a future we can look forward to again. That starts with accepting and embracing the now.

By far, the toughest cycle we’ll experience are our “winter times,” whether it’s cold outside or not. Even  the grasshopper needs to be told by the Ant to prepare for winter, so the old story goes. The other seasons are easier if not more enjoyable.

As tough as things can seem during harsh times, winter provides opportunity to recover and start planning for the next spring ahead—the same kind of spring that gave us relief before and will bring us relief again.

You can do this by defining what you want to create. Be specific. Sometimes luck helps, but there’s no way to get what you want until you’ve defined what that is, and, just as important, why you want it. Your motivations will steer you through any winter storm.

Also, taking inventory. List those attributes that enhance the quality of your life right here and now—family, friends, the network of colleagues who might help you take that next step; resources that are helping you economically, mentally, emotionally, and spiritually. You might be surprised at just how many resources are at your disposal.

Lastly, be grateful. For every “negative” thing that may be happening to you, someone else is undergoing more pressing challenges. Gratitude has a way of dispelling fear, anxiety, and a self-defeating attitude. You can’t focus on what you don’t have when you’re grateful for what you do have. How we progress through the seasons isn’t based on what we don’t have, or what we might’ve done or not done in the past. It’s about how we use what we do have now, sowing seeds of growth that we can reap later.

Winters can seem to go on forever, but they don’t. Somewhere, right now, someone is enjoying summer. That’s as true for the world as it is in our individual lives. When in winter, use this time to re-focus, heal, enjoy your blessings, and start planning your next spring now.

T. Harv Eker

10 Questions to Ask Yourself When Testing a Business Idea

You've got a business idea you're jazzed about, but aren't sure if it's feasible. What you need to do is test the concept to see how it stands up to a series of rigorous questions.

"You are always testing," says Andre Marquis, Executive Director of the Lester Center for Enterpreneurship at Haas School of Business at the University of California, Berkeley. "What you start with is rarely what you end up with."

Where to begin? Here are 10 key questions to help you evaluate your business idea: 

1. What is my customer profile?

Maybe your product or service idea seems like just the right solution for you, but can you identify a clear customer base beyond yourself? Ask what your customer's biggest pains are and how your product might help resolve them, says Alexander Osterwalder, co-author of Business Model Generation (Wiley, 2010) and founder of The Business Model Foundry, which provides digital tools to help develop business ideas. When David Dodge got the idea to start a tutoring business, he used Internet surveys to develop a psychographic analysis of his core customer. "I tried to dig deep and find more," he says. "Understanding and segmenting your market is very important." In 2005, he founded Sure Prep Learning in Scottsdale, Ariz., focusing his marketing on worried and competitive parents. Today, the business has more than 800 tutors.

2. What am I replacing? 

Whatever your idea is, someone out there is buying something else in its place, says Jim Pulcrano, executive director of IMD, the top-rated Swiss business school. Ask yourself what makes your product compelling enough to replace what's already in the marketplace. This doesn't necessarily have to be limited to products that have a similar purpose as yours, Pulcrano says. You could also look at your target customers' spending habits, he says, and consider how you could get them to buy your product instead of something else they currently purchase.

3. How do I demonstrate this idea to others?

Make your idea as tangible as possible, says Steven Stralser, clinical professor of entrepreneurship at Thunderbird School of Global Management in Glendale, Ariz. That might mean developing drawings or a working prototype. By figuring out how you can easily represent your idea to others, you'll start to see how much footing it has, Stralser says. "The ability to show it to other people becomes very critical."

4. Who will I need on my team? 

In the early stages, you'll need to figure out whom you can turn to for honest and informed advice about your ideas, Stralser says. And soon, you'll also need to think about whose brainpower you want on your side—whether in product development, marketing, IT or another function. Find a way to approach such people to gauge their interest in getting involved.

5. What resources do I need?

How can you actually make this idea happen? That requires asking what resources you'll need, from factories to computers to office space, Osterwalder says. Make a list of all the key assets and figure out whether you can obtain them before you invest a lot of time and money in testing and product development.

6. How long will my purchasing cycle be? 

You want to know the purchase cycle for your product or service so you can estimate your upfront cash needs. With a longer purchasing cycle, you'll need more money on the front end before you start bringing in revenue. If you are selling medical technology to a hospital, for instance, that transaction might take 18 months to complete. In contrast, a phone app can be purchased immediately.

7. What's a reasonable sales forecast? 

You want to analyze the actual operation of the business as much as possible to come up with a solid sales forecast, Stralser says. For example, if you want to open a restaurant, don't just base your revenue forecast on annual restaurant sales in your city. For a more specific estimate, consider the size and seating capacity of your proposed restaurant, the expected average customer bill, and the hours of operation.

8. How much growth potential does my idea offer? 

Think about how big you want your business to be and figure out if your idea can meet your expectations. For example, if you are writing software, building simulations or making something by hand, you should realize that you may not grow as fast as if you're making something that can be mass produced. "Are you selling your time, which is finite, or are you selling a product, which you can sell a million of?" Marquis says. "A lot of times it's not obvious to people."

9. Do I possess the necessary skills?

Having an idea and making it happen are two very different things. Be honest in assessing whether you're qualified to turn your idea into a business, Pulcrano says. If an idea requires highly technical skills or business experience that you lack, will you be able to find someone who can fill those gaps?

10. Can I see myself doing this for the next two years? 

Coming up with an idea can be exciting, but are you willing to dedicate your life to it for at least the next two years? Do you have support from family, friends and mentors, and are you willing to make the necessary sacrifices? Dodge decides whether to pursue an idea partly based on how excited he and his team are about it. "You have to look at opportunity cost and realize any new opportunity is going to take a tremendous amount of time and energy," he says.

~ Jane Porter

The 7 Steps of the Sales Process

1. Product Knowledge

This step is fairly straight forward, but it is also the great undoing of many a technical expert turned sales person. When one is extremely well versed in a particular product especially a technical one, it is easy to get caught up in a monologue of all the great features it provides.

The technical expert turned sales person is so eager to explain how the product works or why it’s unique that the benefits to the customer are left out of the discussion. Never assume that a prospect will easily link a feature to a benefit. That relationship must be stated clearly (something done in the presentation step 4, after the needs assessment step 5). The acquiring of product knowledge for a “technician” therefore, is less about the features of the product itself, and more about how the customer will benefit from those features. When discussing product, the technicians mantra should be; “So what?” Consider those two words to be what the prospect thinks every time a feature is mentioned, and re-learn your product from that perspective.

2. Prospecting

Prospecting, just as the word implies, is about searching for new customers. Like product knowledge, this step may seem fairly straight forward but upon closer examination it becomes more complex. The key to prospecting effectively is knowing where to dig and what to look for. It’s also important to distinguish between a lead, a prospect, and a qualified prospect. The most important element in this step is to create a profile of existing customers. This may have been done at your company, but have approach tactics (step3) been tailored to match each profile. For instance, you may have identified the following major market segments: State Governments, County Governments, Consulting Firms, Federal Agencies, Utilities, Universities, but have you fully profiled each of these in order to adjust marketing tactics appropriately? A direct mail, seminar invitation might work well to generate State Government leads, but will it be effective in developing Consulting Firm leads? For each market segment do you really know what the ideal customer looks like? These questions should be answered fully in the “Tactics” portion of a marketing plan.

In the broadest sense, prospecting is an ongoing process that everyone in the company (particularly the sales force) should be involved in. This simply means everyone should have their “prospecting radar” up when they are out and about in the world. Very often, a great lead turned customer was first discovered after being heard or seen in the news at a party, or event, etc.

3. The Approach

This is where the rubber meets the road in the sales process. For our present purposes lets consider the approach in the context of a sales call rather than lead generation (i.e. the difference between a mass mailing and a telephone call). This is the step where you begin to build a relationship and the intelligence gathering continues (it started with prospecting). A good approach is crucial to sales success because it will either identify you as a bothersome salesperson and cause a prospect’s guard to go up, or it will identify you as an obliging salesperson with something of value to offer. (There is probably a middle road too, but you get the idea.). Consider the example of tele-marketers selling a seminar:

Their product is a seminar, about which they presumably have sufficient knowledge. They prospect by scanning the house lists for appropriately titled leads, (generated by earlier prospecting efforts). They approach by saying “I’m Jay from XYZ and I’m calling to follow up on an invitation to a seminar that we mailed to you last week. Do you recall receiving it?” Then the dialog begins, often it’s perfunctory, other times however it can be extremely informative. The difference more often than not depends on how astute and articulate the caller is. What do you think is good about this approach? What do you think is bad?”

Quite often the type of call one makes is a follow up to some action i.e. seminar attendance, brochure mailed, etc. Technically these calls are part of follow up step 7, but let us address them in the context of a sales approach. What would be a good approach for each of the above follow up actions? Think about eliciting information and advancing the sale (closing, step 6). What would be a good approach for a cold call?

Additional Note on recording information: Regardless of the type of call or the results, it is important to take detailed call notes and schedule a subsequent action item, no matter what it is be it a week, a month, or a year down the road. (One can invent a system of abbreviations to make this easier i.e. LVM = left voice mail.) History notes are important for a variety of reasons, not the least of which is tracking where a prospect is in the sales process, including what follow up is necessary and when. Noting that “packet was mailed” or “attended seminar” or “inquired about model” is only half the information and not the most important. Why?

4. The Needs Assessment

This is arguably the most important step of the sales process because it allows you to determine how you can truly be of service. To be a highly effective salesperson, that is to sell to the prospect’s needs, you first have to understand what those needs are. This means you must think in terms of solving a prospects problem. The only way to do that is by asking lots of questions. Does a health practitioner prescribe remedies before a thorough exam? Asking good questions will not only help you determine what will best suit the prospects needs, but it builds confidence, trust, and will very often help the prospect consider issues they may never have thought of. This last point is powerful because it provides an opportunity to showcase features, which the prospects answers led you to. What questions would you ask to illustrate how your product is different/better than a competitor’s. Although intelligence gathering occurs throughout the sales process, it is at step four where it happens in earnest. What other information would be important to gather at this stage? (hint: who’s who, referrals).

5. The Presentation

Remember the discussion in step one, focus on benefits rather than features? If you consider your product/service in terms of how it benefits the customer, your presentation will be a focused and relevant dialogue rather than a self aggrandizing monologue. Nothing is worse than a sales presentation which proceeds from the sellers perspective. This is why the needs assessment is so important and why it will ideally flow in and out of this step. A good needs assessment allows you to tailor your presentation to your audience, and keep it interactive.

6. The Close

Eighty percent of sales are lost because a salesperson fails to close. Closing is about advancing the sales process to ultimately get an order. What you are trying to sell at each stage may be different. For example, a close early in the sales process may be to get an appointment to discuss your product/service, in that case you are selling an appointment not a widget. In a later stage you might need to meet with a committee, in that case what you are selling is a meeting. Seeing the sale process in this light takes a little pressure off of each encounter and makes things a bit more manageable. But don’t be lulled into complacency, you must ultimately ask for the order and no sales conversation should ever end without an agreement to some next step. Do not be satisfied with “we’ll get back to you”, where is the agreement in that? What could you say in response to such a remark in order to advance the sale?

In large part, closing is about discovering obstacles. Have you heard these before: “I’ll need to think about it.”, “It’s too expensive.”, “Let me run it buy some other people.” “Sounds good but I’ve already got one.” What could you say to overcome these objections?

There are lots of ways to close, indeed closing a sale has become a science unto itself. Books have been written on this topic alone. But there is one elemental truth – if you don’t ask you don’t get. Just for fun, following is a sampling of a few closing techniques from among the many:

— The Ask For It Close. “What do we need to do to get this model into your organization?”

— The If-Then Close. “If I could demonstrate how an XYZ model provides you with, (things you know are important based on the prospect needs assessment) then would you be willing to… demo, rent, buy, switch, etc.”

— The Process Of Elimination Close. “So you like the model, you have use for it, it’s not too expensive!”

— The Either Or Close. “Will that be cash or charge?”

— The Lost Puppy Close. “I guess I didn’t do my job very well.”

Additional note: The question “How much does it cost?” Is a great buying signal yet it is a question you want to avoid early in the sales process. What could you say to defer that question politely? When you do mention price, don’t be afraid that they are too high, say it with pride. Don’t forget to ask for the referral.

7. Follow-up

Good follow up will double your closing ratio. When a sales person makes contact with a prospect a relationship has been built, and follow up is how it is nurtured. Staying at the forefront of a prospect’s mind requires persistence and should not be confused with being bothersome. This is why it’s important to get agreement on some next step each time there is contact. Follow up therefore should never end. The pace may slow but it will never end. When a sale is made, then a new type of follow up begins.

Follow up conversations are best handled by the salesperson who started the relationship. Who else can better gauge a prospect’s “willingness to buy”, or pick up where “we last left off”. This means that detailed notes must be kept on each prospect with particular emphasis on their “state of mind”. It is unwise and ineffective to keep track of this information anywhere other than a centralized database.

From Steadysales

Believe in Yourself: The 5 Levels of Personality

You can imagine your personality by thinking of a target with concentric rings. Your personality is made up of five rings, starting from the center with your values and radiating outward to the next circle, your beliefs and values in life.

Believe in Yourself

Your value in life determine your beliefs, about yourself and the world around you. If you have positive values, such as love, compassion, and generosity, you will believe that people in your world are deserving of these values and you will treat them accordingly. When you believe in yourself and chose to be a good person you will find yourself to be more positive and successful in life.

Set Expectations and Know Your Values in Life

Your beliefs, in turn, determine the third ring of your personality, your expectations. If you have positive values, you will believe yourself to be a good person. If you believe in yourself to be a good person, you will expect good things to happen to you. If you expect good things to happen to you, you will be positive cheerful, and future oriented. You will look for the good in other people and situations.

Attitude: Expect Good Things to Happen

The fourth level of your personality, determined by your expectations, is your attitude. Your attitude will be an outward manifestation or reflection of your values, beliefs, and expectations. For example, if your value is that this is a good world to live in and your belief is that you are going to be very successful in life, you will expect that everything that happens to you is helping you in some way.

As a result, you will have a positive mental attitude toward other people and they will respond positively toward you. You will be a more cheerful and optimistic person. You will be someone who others want to work with and for, buy from and sell to, and generally help to be more successful.

Be a Good Person Through Your Actions

The fifth ring, or level of life, is your actions. Your actions on the outside will ultimately be a reflection of your innermost values, beliefs, and expectations on the inside. This is why what you achieve in life and work will be determined more by what is going on inside of you than by any other factor.

Action Exercise

Make a list of your three to five most important values in life today. What do you really believe in and stand for? What are your values in life? What qualities are you best known for among the people who know you? What do you consider the most important values guiding your relationships with others in your life?