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5 Creative Ways to Fund
Your Business
There
are very few good things that can be said about the
Great Recession, but one of them is this: There are a
lot more ways to fund a business than there ever used to
be — necessity being the mother of invention and all....
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10 Things Never to Tell Sales Prospects
By PETER SVENSSON and RACHEL METZ, Associated Press
Samples can be
helpful. Demos can be effective. But what is the primary
tool used by salespeople?
Words
Whether spoken or written,
words make sales happen… or not.
Too many salespeople (and
marketers and advertisers) use the same words — words used
so often they’ve become meaningless — to describe their
products and services. Pretend I’m a potential customer or
client. Here’s how I react if you use the following:
- “Customer
focused.” Talk about redundant; should
you be anything but customer focused? If your
goal is to imply that other providers are not customer
focused, tell me how: faster response time, greater
availability, customized processes or systems… tell me
in concrete terms how you will meet my specific
needs. (If you don’t know my needs and therefore can’t
address them, shame on you.)
- “Best
in class.” There are two problems with
that phrase: Who defined your “class” and who determined
you were the “best” in it? (My guess is, you did.)
Still, maybe you are that awesome. Prove it. Describe
your accomplishments, awards, results, etc. As a
customer I don’t need best in class, I need best for me
— so tell me, in objective terms, how you provide the
best value for my needs.
- “Low-hanging
fruit.” When you say, “We’ll start with
the low-hanging fruit,” I hear, “We’ll start with the
really easy stuff you are too stupid to recognize or do
yourself.” No business wants to hear they have
low-hanging fruit. Just describe, in cost-benefit terms,
how you prioritized your list of projects or activities.
- “Exceed
expectations.” Admirable goal, one every
business should aspire to, but exceeding expectations is
an internal goal. Tell me you will exceed expectations
and exceeded expectations becomes an expectation. (I
know, that’s kinda Zen.) Just tell me what you will do
every time; if you consistently pull it off I’ll be
delighted. Always let the customer judge whether you go
above and beyond.
- “Unique.”
The ever-increasing pace of commoditization
means few products or services have no like or equal for
long. If I’m considering hiring your firm or buying your
products, “unique” means nothing to me. Tell me, in
concrete terms, how you are better.
- “Value
added.” This term is often used to imply
I’ll get something for no or very little incremental
cost. That means what I will receive isn’t value added —
it’s part of the overall deal. So tell me the deal,
explain all the options and add-ons, and help me figure
out how I can take full advantage of what you provide.
- “Expert.”
Margaret Thatcher once said, “Power is like being a
lady; if you have to say you are, you aren’t.” Show
your expertise instead. “Web 2.0 expert” often reads as
“We can slap videos and theoretically interactive
applications on your website. “Built websites for …” and
“Created applications that…” lets potential customers
evaluate your level of expertise and its suitability for
their needs.
- “Exceptional
ROI.” We all seek a return on
investments and we all love a great ROI. But without
access to my numbers you can’t accurately calculate my
ROI. Therefore your estimates are either theoretical or
based on another customer’s results, and either way I
know those estimates are absolutely best-case. “Provides
an exceptional ROI” reads as “…and you’re a terrible
businessperson if you don’t do this.” Show the costs,
don’t hide anything, and trust me to calculate my own
ROI. If I’m not smart enough to do so I probably don’t
have purchase authority anyway.
- “Partner.”
Long-term business relationships are great, but we will
never be partners because while your hand reaches into
my pocket, mine will never reach into yours. Still,
maybe one day I will see you as a quasi-partner… but
that’s something I’ll decide on my own based on your
performance, not on your marketing.
- “Turn
key.” I love a turn key solution as much
as the next guy, but few solutions truly are. No matter
how comprehensive the offering I always wind up
participating more than I was led to expect, so when I
hear “turn key” I’m naturally skeptical… that is, unless
you thoroughly break down what you will provide and what
my participation will be, both during implementation and
after. Turn key is in the eye of the beholder and the
customer is always the beholder.
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