Restaurant ownership can be a rewarding experience, but it can also come with significant stress and mental health challenges. Running a restaurant requires long hours, financial investments, and the ability to manage a team of employees. These pressures can take a toll on a restaurant owner’s mental health.
One of the biggest sources of stress for restaurant owners is financial concerns. Starting and running a restaurant requires significant financial investments. Many restaurant owners have to take out loans or invest their own money to get started. As a result, financial instability and the fear of bankruptcy can cause significant stress and anxiety. This stress can be exacerbated by factors such as changing economic conditions, high overhead costs, and unpredictable revenue streams.
Additionally, restaurant owners often work long hours and face constant pressure to meet customer demands. This can lead to burnout and exhaustion, which can impact both physical and mental health. Many restaurant owners also report feeling isolated and disconnected from their families and friends due to the demands of running a business.
Furthermore, restaurant owners have to manage a team of employees, which can be challenging in its own right. Employee turnover and conflict can cause stress and anxiety for restaurant owners, as can the responsibility of ensuring the well-being of their employees.
Despite these challenges, there are strategies that restaurant owners can use to promote their mental health and well-being. For example, seeking support from friends and family, as well as mental health professionals, can help restaurant owners manage stress and anxiety. Engaging in self-care practices, such as exercise, meditation, and taking time off, can also promote mental health and well-being.
In addition, creating a positive work environment and culture can help promote mental health and well-being for both restaurant owners and their employees. This can include providing employee benefits such as paid time off and mental health resources, as well as fostering a supportive and respectful work environment.
Restaurant ownership can be a challenging experience, but it is important for restaurant owners to prioritize their mental health and well-being. By seeking support, engaging in self-care practices, and creating a positive work environment, restaurant owners can help promote their own mental health and the well-being of their employees.
First Watch Expands Wellness and Learning Benefits to Improve Quality of Life for 12,000 Employees
Kudos to First Watch, the leading Daytime Dining concept with more than 470 restaurants nationwide, has unveiled expanded wellness benefits for its 12,000 hourly and salaried employees to further build upon a quality of life that is unparalleled in the restaurant industry.
As part of these enhancements, First Watch is providing a complimentary annual membership to Calm – a top-tier app for sleep, meditation and relaxation – to all employees and up to five friends and family members as well as telemedicine services through CirrusMD that can connect all employees with a doctor in minutes, with no out-of-pocket expense. Read more HERE.
The future may be a bit bumpy for some, more so for others. Knowing who to turn to and when to turn to for guidance and help is important. Having resources at your disposal is also important.
So, if you hit a wall, for whatever reason, please feel free to reach out to me for assistance or even if you just need someone to talk to. Please do not hesitate. You can reach me on LinkedIn, by email to Paul@Acceler8Success.com, and by phone or text at (832) 797-9851. Learn more about Acceler8Success Group at Acceler8Success.com and also at Entrepreneurship411.com.
After spending a significant portion of their lives in the workforce, many people dream of becoming their own boss and starting their own business. This is especially true for those who have acquired a wealth of knowledge and experience in their industry and are looking for a new challenge. If you are considering business ownership after a long career, here are five key factors to keep in mind.
Assess Your Goals and Interests
Before embarking on any entrepreneurial venture, it is essential to take the time to assess your goals and interests. Think about what motivates you and what you hope to achieve by owning your own business. Are you looking for financial independence, creative freedom, or the opportunity to make a difference in your community? Also, consider your skills and experiences and how they can be leveraged in a new business venture.
Research Your Market
Once you have a clear idea of what you want to achieve, research your market to determine if there is a viable business opportunity. Look at industry trends, competition, and customer needs to identify potential gaps that your business can fill. This research will also help you determine the feasibility of your business idea and whether it has the potential to be profitable.
Develop a Business Plan
With a clear understanding of your goals and the market, the next step is to develop a business plan. This plan should outline your business model, target market, marketing strategies, and financial projections. It will serve as a roadmap for your business and help you stay focused on your goals.
Consider Your Finances
Starting a business requires a significant financial investment. Consider your personal finances, savings, and potential funding sources to determine if you have the resources to start and sustain a business. This may also involve seeking out small business loans or investors.
Take the Leap
Once you have done your research, developed a plan, and secured the necessary resources, it is time to take the leap and start your business. This can be a scary and uncertain time, but it is also an exciting opportunity to put your skills and experiences to work and create something truly unique.
In conclusion, exploring business ownership after a long career can be a fulfilling and rewarding experience. By taking the time to assess your goals, research your market, develop a plan, and secure your finances, you can turn your dream of business ownership into a reality.
Like a kid entering a candy store for the first time, exploring business ownership for the first time presents many options and stimulates a multitude of emotions – excitement, joy, uncertainty, doubt, and frustration are just a few.
First, let’s think back to your initial candy store experience. Your eyes were wide open in amazement as the candy on the shelves and behind the counter looked extremely tempting and certainly, all the colorful wrappers eye-appealing. However, with a limited amount of money to spend, many items were immediately eliminated from consideration. The field diminished further, as you were trying to decide between chocolate and other candies. The possibilities were reduced even more as you then had to choose between plain chocolate and chocolate with nuts or marshmallows. If you chose other candy types, was it going to be hard or chewy candy or, maybe even bubble gum… and what flavor?
After all that was said and done, guess what? That’s right, the decision-making process continued and possibly even became more complicated or emotional. Sometimes a quick decision resulted in regret or one of your earliest feelings of buyer’s remorse as you exclaimed, “Geez, I should have gotten the chocolate instead of the licorice.” You may have actually left the candy store planning on saving your money and along with next week’s allowance you’d be able to buy some baseball cards instead of candy. Who knows, baseball cards might have your favorite player in a pack and the [sentimental] value of your purchase would skyrocket? Or, maybe you were actually counting on it and when it didn’t pan out, you were disappointed, AND with no money left? Talk about an emotional roller-coaster!
Exploring business ownership is certainly a more important task than buying candy but in the minds of the eight-year old and you, the process can be very emotional, relatively speaking, of course.
Here are 10 steps to minimize the emotional ride of exploring business ownership:
Determine your investment level. Is this amount a stretch? If it is a stretch or if you’d be interested in a business with a higher investment level, would you consider a partner? If so, an equal partner? Is your “financial house” in order?
Sooner rather than later, determine if your spouse or significant other will be involved in the business. Is this truly a possibility and if so, could you see yourselves working together day in and day out? Who would be responsible for decision-making? What are the defined roles? Would they be partners or just working in the business? What would potentially happen to your relationship if the partnership or business failed?
Define what you love to do. What is it – in detail? Could you see yourself doing this every day, every week, every month? Would this be a determining factor in your decision?
Identify various aspects of business you don’t like doing, feel you’re unable to do or would hate doing. How would these items be addressed under your ownership? Would you be willing to handle some of these items even if it meant having to learn how? Could you see yourself helping out as necessary?
Think about your comfort level in starting a business. Could you see yourself starting a business generating the first dollar in revenue and building over time towards profitability? Would you be more comfortable purchasing an existing business with solid financials?
Explore what is fast becoming the norm in business venues – home-based offices. Would you be diligent in owning and operating a home-based business or would a bricks and mortar business provide you with structure? Would you be comfortable with employees working remotely?
Explore various business models. Whether starting from nothing or in purchasing an existing business, explore franchising as a possibility. Would you be more comfortable owning a business within a proven business system? Could you see yourself being part of a larger brand albeit with certain restrictions, limitations and expenses than if you were to operate independently?
Research various personal assessment tools and take the tests in order to provide you with a true snapshot of your personality and abilities, especially as they relate to business ownership. Are you suited for business ownership? Would you need a team around you or could you operate as a one-person operation? Are you suited to lead a team and delegate effectively? Are you risk-adverse?
Identify individuals that can help you explore business ownership. Do you know any successful small business owners, including franchisees? Could you be honest sharing with them information, including your responses and assessment results identified above? Would you be willing to seriously consider their advice and recommendations?
Compile all the above information. Review it in detail. Once that is complete and your emotions are in check, you’ll be closer to determining if business ownership is right for you and well on your way towards determining the business and business model that may work best for you.
Yes, that means another trip to the candy store but this time, you’ll be better prepared to make a decision that you will be more apt to enjoy long after the purchase.
I’m often asked to help salespeople succeed. Whether in business or franchise brokerage, or in any professional sales setting, the fundamentals are essentially the same.
Listed below are various points I make in a typical sales training workshop including 30 Rules of Sales Success and 5 Degrees of Failing followed by two sets of questions about why salespeople fail and whether you were born to sell.
As you’re reading through the questions, make note of your answers. Following each of the two questions is a simple grading system. See how you rank. Be honest with yourself as you’ll only be deceiving yourself if you act otherwise. If you’d like to discuss your results afterwards, feel free to reach out to me.
30 Rules of Sales Success
Establish rapport and client confidence
Establish and maintain a positive attitude
Believe in yourself
Make a plan…set and achieve goals
Learn and execute sales fundamentals
Understand the client and meet his/her needs
Sell to help
Establish long-term relationships
Believe in what your selling
Always be prepared
Always be sincere
Be on time for calls, appointments and follow-up
Look and sound professional
Use humor strategically
Master total knowledge of what you’re selling
Sell benefits, not features
Always tell the truth
Always keep your promises
Don’t dog the competition
Listen more than you speak
Anticipate responses – statements and objections
Overcome objections
Ask for the sale
Shut up after asking closing question
If sale not made, make firm appointment for follow-up
Follow up… Persist until you succeed
Redefine their rejection
Find your success formula through numbers
Do what you do passionately
Create positively memorable experiences at all times
5 Degrees of Failing
Failing to do your best
Failing to learn the science of selling
Failing to accept responsibility
Failing to meet pre-set goals
Failing to have a positive attitude
Why do salespeople fail?
Answer YES or NO
I watch the news for I hour each day.
I read the paper each day.
I read a news magazine every week.
My work is a drag.
I get angry for an hour or more.
I talk to and commiserate with negative people.
I look to blame others when something goes wrong.
When something goes wrong or bad, I tell others.
I get angry at my spouse and don’t talk for more than 4 hours.
I bring personal problems to my work and discuss them.
I expect and plan for the worst.
I’m affected by bad weather enough to talk about it
How did you do?
0-2 yes answers: You have a positive attitude.
3-6 yes answers: You have a negative attitude.
7 or more yes answers: You have a problem attitude.
Are you born to sell? No, you learn to earn!
Answer YES or NO
I have set my goals in writing.
I have good self-discipline.
I am self-motivated.
I want to be more knowledgeable.
I want to build relationships.
I am self-confident.
I like myself.
I love people.
I love a challenge.
I love to win.
I can accept rejection with a positive attitude.
I can handle the details.
I am loyal.
I am enthusiastic.
I am observant.
I am a good listener.
I am perceptive.
I am a skillful communicator.
I am a hard worker.
I want to be financially secure.
I am persistent.
How did you do?
Answer over 15 with an honest yes and you’ve got what it takes.
Between 10 and 14, it could go either way – better chance if you answered yes to knowledge, enthusiasm, self-confident, perceptive, self-motivated, persistent)
Under 10… well, a career in sales is most likely not for you!
This week, we’ve discussed sales basics including prospecting, presentations and sales questions. Today, we take a look at a key sale that appears to be lost, but the sale is critical to the organization selling its products or services!
In light of today’s economic uncertainty, the possibility of being in this position is quite real. As such, this is a discussion that is of utmost importance to today’s business owner / founder / entrepreneur, especially as the answer appears to subjective… or is it?
I look forward to learning various insight and perspective on this. Please share in the comments section, send me an email to paul@acceler8success.com, or text me at (832) 797-9851.
When the Sale is in Jeopardy, but Failure is not an Option!
You’re close to finalizing a major deal with a prospective client that will result in a large payout and repeat business for years to come. The time you’ve spent nurturing this prospect will finally payoff. Some of your current clients have been disappointed by the lack of attention you’ve shown them over the past year, but you know you can make it up to them after you close this deal. Besides, this new client would generate a significant increase in revenue and profits that everybody knows is vital to your company’s future success.
But wait. You’ve learned in the 11th hour; the prospective client is changing directions and is exploring options with your competitor. As it turns out, the change in direction is being blamed on something you did or said that they weren’t exactly happy with. You find this out from a former employee, now employed with your competitor. He goes on to tell you the prospect would rather do business with your company but only if you weren’t involved.
You think about the potential loss of immediate and future business. What about the revenue and profits the company desperately needs? How would you be viewed by your employees (and partners) if the prospect signs with your competitor when you’ve invested so much time and resources? What happens if key employees find out the prospect could have been saved if you stepped aside? What is it that you did or said that caused the change in direction? Does it really matter now?
Forget the “this wouldn’t happen to me” response. Put aside the “it couldn’t happen like this” statement. Look beyond the “he should have seen it coming” exclamation. Let’s assume it happened exactly as it was described above – What would you do? How would you handle this situation?
As we dive back into the sales conversation, let’s start with the infamous scene from what I believe is one of the best “sales” movies, Glengarry Glenn Ross. I’d love to learn your perspective about this scene from the standpoint of sales basics.
*Please pardon the language and some phrases that are definitely not politically correct in any sense imaginable today.
“Quality performance starts with a positive attitude.” -Jeffrey Gitomer
The Role of Questions in Sales
Prepare, in advance, the questions to be asked when actually get face to face with the prospect. Of course, every selling situation is unique, and every selling situation requires some variation, but certain basic questions that come up in every sales situation can be planned in advance.
With careful planning them, all bases can be covered. Wording must be precise. There is one caution – words must be phrased in such a way that they won’t sound canned.
Ask As Many Open-Ended Questions as Possible
Closed questions that call for a “yes” or “no” answer tend to discourage people from talking, to give only limited information, and they tend to set a negative tone. During the probe (the questioning) step of most selling systems, primarily open-ended questions that require prospects to express how they feel, what they want, or what they think are essential to the process. There is always room for “yes” or “no” questions, but caution must be exhibited to not to use too many or to use them incorrectly. Now is not the time to try out words not yet fully understood.
Ask Needs-Based Questions
In the probe phase, key is to get the prospect talking. His or her needs (or desires) must be addressed. Therefore, questions must phrase to gain insight into how the prospects perceive their needs (and desires).
Ask Questions That Help Identify Problems That Need to Be Solved
Usually there’s one overriding problem that needs to be resolved in the prospect’s mind – a situation that can be understood by asking the right questions. Plus, with proper pre-call planning and strong internal advocacy, a glimpse of the problems can be identified early on.
“If we are going to be part of the solution, we have to engage the problems.” -Majora Carter
Ask Questions That Help Pinpoint the Dominant Buying Motivations
Buying motivations and needs are not always the same. Buying motivations have to do with desires, feelings, tastes and so on. Look for tell-tale signs – hot buttons.
Avoid Offensive Questions or Asking Questions in An Insensitive Way
Certain types of questions can offend prospects and cause them to back away. Here are some examples of pitfalls to avoid:
Don’t use leading or “set up” questions such as “You do want to make a profit, don’t you?” What’s the prospect going to say…”No, I don’t?!”
Probe don’t pry. Nosy questions can be a real turnoff.
Be careful about phrasing. For example, instead of asking “How much can you afford to spend?” you could phrase it a little more positively: “How much had you planned to invest?”
Ask Questions That Are Easy to Answer
Questions that require knowledge the prospect doesn’t have can often make him or her feel stupid. For example, asking most consumers, “What’s the maximum wattage per channel on your amplifier?” might get you a dumb look for an answer. The smarter the prospects are made to feel, the smarter they’ll think the salesperson is and the more they’ll like them.
Use Questions to Guide the Interview & Keep the Tone Positive
Some people love to ramble on and on, but by skillfully using questions, the interview will remain focused on point and move in the right direction. Also, questions should be asked in such a way that will solicit responses in a positive manner. Studies have shown that most people much prefer to agree than to assert themselves and disagree. In other words, the goal is to make it easy to say “yes.”
Ask – and Then Listen
The prospect can’t talk while also trying to listen. Besides, it’s hard for the salesperson to learn while they’re talking. Every word said by the prospect must be quickly grasped while staying aware of speech tone, body movement and facial expressions that may accompany the spoken word. Remember, people can be talked into buying, but listening and responding accordingly, keeping things about the prospect will create a buying experience the prospect will feel confident they made the right decision instead of being pushed to make a decision. One they may regret after the fact.
Shifting Gears… Against All Odds!
Anytime that you believe your business ideas are a long shot, think about 2022 Kentucky Derby Winner, Rich Streak who won against 80-1 odds. As long as you’re diligent in your preparations and as opportunities present themselves, a little bit of luck will go a long way. After all, luck is nothing more than opportunity meeting preparedness.
“I have never worked a day in my life without selling. If I believe in something, I sell it, and I sell it hard.” -Estée Lauder
Below are several articles with 100 examples of open-ended questions that I believe you’ll find useful:
In continuing with our focus on sales, today we will discuss sales presentations. Remember, the points we’re making are from a recent B2B sales training workshop, but the fundamentals remain the same and are applicable for today’s entrepreneur.
Research indicates that most people involved in sales put 80-90% of their time into presenting and demonstrating and leave only 10-20% of their time for other things. Professional salespeople, however, spend only 40% of their time presenting or demonstrating; not more than 10% prospecting; and about 50% of their time qualifying and planning.
Let’s look at these figures one more time. The professionals spend half as much time demonstrating or presenting as the average salesperson does, yet we find that he or she still manages to turn in at least twice the volume. And this is a conservative figure. Actually, the professional brings in between four and ten times as much business as the average salesperson will. It’s not uncommon for a single salesperson to outsell the entire bottom half of the sales force, and keep on doing it month after month, year after year.
So, what is it that the true professional does to stand above the rest? By far the greatest difference lies in his or her attention to and ability to plan sales, in selecting and qualifying the right people to sell to, in overcoming objections and closing, and in deserving and obtaining referrals.
As important as presenting and demonstrating is, if it is done with the wrong audience because qualifying wasn’t done properly, it’s all for nothing. If working with the right people, but their objections have become seemingly insurmountable because ineffective or even no preparation had been done, then it’s all for nothing. And if the person being presented to has no decision-making authority, all efforts are for naught.
If there is an inability to close, a true knack AND skill to close deals, the structure and parameters of will be in place but ripe for the person being presented to look elsewhere for something similar. The bottom line is the presenter must be a strong presenter or demonstrator to sell effectively. They must have the ability and commitment to qualify strongly, handle objections strongly and close strongly.
There are three things that must be covered in a presentation:
1. Tell them what you’re going to tell them. This is the introduction.
2. Tell them what you’re there to tell them. This is the opportunity for our product being presented.
3. Tell them what you just told them. This is the summary.
This is the outline of all successful speeches, presentations and demonstrations. In other words, the foundation is built upon repetition. The same things aren’t repeated three times, of course, As outlined above, new ideas are introduced, points are covered in depth and related to the end-user’s interests and needs and finally, conclusions are drawn from the presented points along with a call-to-action and next steps.
Repetition is the mother of learning, yet average salespeople don’t like repetition. For one thing, they have used their material so many times that it’s stale to them. All too often, average salespeople have gone worse than stale on their presentations and feel it would be better off buried. The professional, on the other hand, never tires of phrases that work, ploys that sell, and ideas that make sense to his or her buyers.
There is no doubt about it, one of the keys to the professional’s greater skill at presenting or demonstrating lies in his or her ability and willingness to use repetition effectively to reinforce every point. He or she doesn’t mind repeating the sales point because he or she knows it leads to repeated sales to the same type of clientele.
So, think in terms of tell, tell, tell and remember: Repetition is the seed of effective presentations, and successful selling. And last but certainly not least, technology should be utilized to enhance presentations. However, the presenter MUST be proficient at doing so!
Below are a few great articles about delivering great sales presentations:
This edition of Acceler8Success Cafe follows yesterday’s topic of entrepreneurial selling. If you missed yesterday’s article, Entrepreneurs MUST Develop Exceptional Sales Skills to Succeed, you may access it HERE.
Today we will address sales fundamentals and a return to sales basics – Sales 101, if you will. Regardless of your sales experience and sales skillset, I highly recommend reviewing this article, and even keeping it for future reference.
Style points do not count. Ability is not enough. In sales, winning comes only with the right attitude! And winning at prospecting or cold calling, whatever you may call it in your business, is all about attitude!
When you’re responsible for developing new business, one of the keys to success is your attitude toward prospecting.
If you don’t have the desire to prospect, or are afraid of it, you won’t do it often enough. As a result, your prospecting skills become weaker. This in turn causes your motivation to diminish and prospecting then becomes a monumental task.
When we evaluate the reasons why a salesperson has failed or plateaus at an unacceptable level, we are constantly reminded of the following: they are not motivated to prospect or have a fear of rejection. Neither their lack of motivation nor the fear of rejection is the main culprit; both are to blame. It is a catch-22. Either the lack of motivation causes the fear of rejection, or the fear of rejection demotivates them. Either way, the person never becomes the effective prospector they could be or should be.
What is being offered here are some ideas on how to get motivated and stay motivated when prospecting or cold calling. I have also included suggestions that will help you overcome the fear of rejection. When you internalize these concepts and techniques, you will become the most effective prospector you can be and will achieve the level of success you deserve.
Believe in it: it works.
Prospecting over the phone or cold calling “door-to-door” or on LinkedIn is a very effective way to find qualified leads for your business. Since the beginning of time, farmers, livestock ranchers and a variety of other vendors have been bringing their products to market on horse and buggy. Today, millions of companies spend millions of dollars and have millions of “salespeople” doing it.
Prepare yourself properly.
Prospecting is like a contact sport. You are either prepared and have an advantage over the other person, or you are unprepared and don’t. Top salespeople have regular phrases, statements and/or scripts they use to generate interest in the part of the prospect. They are also prepared with a list of common objections and responses to handle any resistance the prospect or gatekeeper throws at them. This preparation comes from practicing with a peer or sales manager and/or from making a lot of calls to prospects. The key question is, “Are you fully prepared?”
Discipline yourself.
Every time you feel like quitting and/or find yourself procrastinating, you are being bit by the “Fear of Rejection” bug. The only way to beat this bug is to maintain the discipline to keep going. Discipline in business is about forcing yourself to do something that you don’t want to do. When you are staring at that name on your list or standing outside the prospect’s door – Just do it! No one has more power to discipline you than you.
Convert that feeling.
Try to understand why you get sick to your stomach when you have to prospect. Or why you hate the phone and have a fear of rejection. Ask yourself why you feel this way and then listen for the answer. When you are in a quiet place and are truly interested in finding the reason, it will come out. Do not let that feeling control you. You have to learn how to control it. Once you have control, you can convert the negative feelings into positive energy. The good news is, the worse you feel now, the stronger you’ll be when you convert it and the more chance you have of being a prospecting dynamo!
Do not take it personally.
Most, if not all, of the prospects you are going to call are bombarded with salespeople each week. And they reject most, if not all of them. They are not rejecting you; they have rejected every other salesperson that has called them this week. So, when you call, it is not you they are rejecting, they are rejecting another salesperson. Do not feel so singled out. You are among an elite group of people whose goal is to find people who are not so willing to or who are unable to reject salespeople. And that’s easy when you have a good call list and are well prepared.
Partner with a friend.
Many people that exercise would rather do it with a friend because this helps keep them motivated. Both people enjoy the workout more, plus they keep each other in line. We recommend you find another person in your organization or network that has the same or better work ethic as you and agrees to keep you motivated and positive during prospecting sessions. When you make commitments to each other of when, how long, and who you are going to prospect, you subconsciously put incredible pressure on yourself to hold up your end of the bargain. This is a healthy pressure to have.
Make the time to prospect.
This is part of the discipline theory we spoke of before. Most every person responsible for sales I’ve met says they are busy, and some say they are too busy to prospect. This is nothing more than an excuse and an infection by the “Fear of Rejection” bug. Top salespeople make a habit of allocating a certain percentage of their week to prospecting. Regardless of their workload, they put a priority on prospecting and do it regularly. It is your responsibility to make time to prospect and create this habit.
Organize your list of leads.
It is a complete waste of time to make phone calls to companies and people who are not qualified to buy whatever you may be selling. Top salespeople have at least 100 qualified leads on their call list at all times. A qualified lead is defined as a prospect you know can use and pay for the products or services you offer or is currently using similar products or services offered by your competition.
A business card is not a prospect.
We are amazed at how little value salespeople put on prospects. They get a business card from somewhere, write some notes on the back and use this as their main prospecting system. A stack of these things with a rubber band wrapped around them is an inefficient method of prospecting. I highly recommend becoming digitally organized on your iPhone or tablet and keeping as much information as possible on each prospect. In addition to the name, title, phone number with direct extension, and address of the person who has the authority to buy your product or service, you can collect additional information and use it to your advantage.
Call Decision-Makers only.
Strong lead lists will have the name of the Decision-Maker for each lead. A Decision-Maker is generally defined as the person who makes the decisions in relation to your products or services. Generally, there are two things I look for when categorizing someone as the final Decision-Maker: 1) the ultimate authority in their organization to over-rule everyone’s decisions regarding products or services, 2) the ability to allocate money, set budgets, issue POs, sign checks, give a credit card or enter into agreements. They have the money, and they can spend it!
All at once or not?
Salespeople regularly ask me if it is better to cold call for eight straight hours (one full day) or to break it up into two four-hour sessions. Frankly, I have met successful salespeople that do it both ways. One salesperson may prefer to allocate a full day to nothing but prospecting while another may prefer to break it up into two mornings on two different days. I do not think it makes a difference. I believe we all have to find a method that is comfortable for us. Provided you discipline yourself to concentrate on prospecting during this time period and not on other busy work.
Break up the day/session.
The fact of the matter is that even great prospectors are going to be rejected. Prospecting is a numbers game based on percentages. Having said that, I believe it is sometimes difficult for people to take a lot of rejection for a long period of time. So, I recommend breaking up your session in a fashion similar to this. Make a particular number of calls to brand new prospects and then, make some calls to prospects you have previously called on, then call some people for referrals, then take a short break.
What I have just described is one cycle. The length of each cycle will depend on your commitment to prospecting, your work ethic and level of tenacity. In order to effectively prospect, you are going to have to repeat these cycles as often as you can in order to get results. Only you can determine the length of each cycle and how many cycles per day you are comfortable with.
Use a headset.
Not for motivation, but for discipline and efficiency. When you are “literally” connected to the phone via a headset, it is much harder for you to walk away from your desk. So many people put the phone down and have trouble picking it back up. They don’t even realize it, but as soon as they put it down, the resistance to picking it back up is even greater. If you don’t have a headset, make it a rule that you will never put the receiver down until you dial at least “x” number of calls. Just hang up each call with your finger instead of putting the phone down. Once it’s down it’s even harder to pick it back up again!
Hold all calls.
Not for motivation, but for discipline and efficiency. A telephone prospecting session is just that – outgoing calls only. Have your admin or assistant hold all your calls or direct them to your voice mail. Telephone efficiency is all about rhythm. Once that rhythm is broken it is hard to get it started again. When you start to field incoming calls, you might get sidetracked by a friend or even worse a customer or client who needs something now. Boom: rhythm broken.
It’s a numbers game.
Even professional baseball players are only successful at getting on base 30% of the time. And they rate in terms of skills in the top 1% of all the millions of kids who start out playing baseball. So let me get this straight. They are the best of the best, get paid millions of dollars and yet actually fail on a consistent basis seven out of ten times! Why don’t they get the fear of failure? Because they understand it’s a numbers game. In sales efforts, a 20 to 30% success rate is good. When you can secure 2 – 3 appointments from every 10 prospects or leads you are doing a good job. Keep in mind that every customer “no” gets you one step closer to that elusive “yes.” Just keep stepping up to the plate.
Build on little successes.
Regardless of your experience level, you may occasionally hit slumps just as professional athletes do. To overcome this they do not quit, they focus their attention, practice regularly and keep at it. Little by little they start to succeed and get their confidence back. You can do the same by working on a strong referral list or by calling on some previous contacts. By doing so, you will get your rhythm back. As soon as you start to succeed throw in a couple of cold prospects and watch your confidence take over. Even if you are not in a slump, during a call session you may want to call on some older contacts to keep your motivation and confidence level up.
Increase your tolerance level.
You don’t start your running career with the 100-mile marathon. You start by first running the 5-mile marathon. Then you build your level of tolerance and stamina. Same with prospecting. If you are suffering from a lack of motivation or fear of rejection, start small and build your way up. Start with 10 calls the first week, 15 calls the second week, 20 calls the third week, 25 calls the fourth week, and so on.
Set goals.
Recently, I was speaking with a veteran salesperson of about 16 years. For the past 8 years, he had a strong account base and did not have to make cold calls. He just took a new job with a company that does most of its business by telephone prospecting. He said he was scared at first (he took a cut in pay in hopes of a bigger payoff) but had faith in the company and went at it. He told me the main reason he has been more successful on the phone than most of the other new reps is because he sets goals for himself every week. He has goals for the number of times he dials the phone, the number of contacts he makes and the number of appointments he sets. Basically, he said he works as many hours as it takes to hit his goals. Now that’s commitment and desire!
Tomorrow, we will continue the discussion about sales basics.
Regardless of the industry and industry segment, successful entrepreneurship begins with the entrepreneur’s ability to sell. He or she must be able to sell to investors, clients, suppliers, and employees from day one. Of course, it’s essential to have developed a great idea, product or service, and business model, but without perfecting the ability to articulate the vision, communicate it well, and close the deal, the company or concept goes nowhere.
Unfortunately, not enough emphasis and time is dedicated to the importance of sales in an entrepreneurial venture. Sales is a cornerstone to entrepreneurial success. However, many just wing it with the mindset of, the product or service will sell itself or build it and they will come. The bottom line is, nothing sells itself and unless there is awareness of what is being built, no one will know!
Over the next few days at Acceler8Success Cafe, taking nothing for granted I will focus on basic sales skills. From prospecting to closing, I’ll work through various steps in a sales process. For now, I will keep it simple because quite simply, understanding and implementing sales fundamentals will go a long way toward entrepreneurial success, and quite frankly, success in achieving almost any goal.
One more thing, and this is vitally important to your “sales” success, key to a successful entrepreneurial venture is the founder, the entrepreneur being the number one salesperson, the number one promoter. No one will ever do it as good as you!
“Sales is not about selling anymore, but about building trust and educating.” – Siva Devaki
Today I will share a few of my favorite articles around the subject of entrepreneurship and sales. Enjoy & Happy Reading!
Entrepreneurial Selling: The Simple Mindset Shift That Wins More Deals
You might be selling for a blue-chip Fortune 500 company (like I once did), a shiny new startup (I’ve done that too), or somewhere in between… Regardless of what you sell, to succeed in winning new business, you need to incorporate entrepreneur sales approaches into your existing sales toolkit.
In the uber-competitive world of entrepreneurial sales, it helps to learn from the best. And, Babson College Associate Professor Vincent (Vini) Onyemah is one of the best.
Onyemah was recently interview to share why he says entrepreneurial sales is the single most important business function. The interview brought to light valuable information that will be helpful to entrepreneurs and seasoned professionals alike.
Sales skills are not limited to salespeople. When you’re on a journey to become a successful entrepreneur, your skills for selling yourself as a leader can be essential.
Starting from day one in your business, you’re likely selling yourself and your company.
Whether it’s pitching your idea to potential investors or showcasing your latest innovation to prospects, the success of your business often depends on your ability to sell.
Your sales division is what keeps your business afloat and allows growth. Even if you have the best product or service on the market, a lack of high-quality sales techniques will undercut its potential.
Sales skills are essential. They help entrepreneurs sell products, draw in customers, and increase profits. You need to master sales skills to help you become the next Ferriss, Gitomer, or even Dale Carnegie.
A holiday weekend is upon us. It’s a three-day weekend for many. The celebration is for Presidents Day. Earlier this week we celebrated Valentine’s Day. It’s these days that remind me a lot of my childhood.
I fondly recall entering my classroom on the first day of February in my early grades and seeing the dark silhouettes of George Washington and Abraham Lincoln on either end at the top of the long blackboard at the front of the room. Their birthdays are February 22nd and 12th, respectively. On a large side bulletin board, we were reminded of Valentine’s Day on February 14th. The decorations were vividly red hearts of all sizes.
School was closed on both presidents’ birthdays. Later on, we celebrated them together in what was then Presidents Day, the third Monday of February. Regardless of when we were off from school, they were special days. Even more so than weekends. It was about friends and family. These days and other days of celebration bring back memories of my childhood.
It brings to mind something that has been shared numerous times across social media and one that I want to share here today. I hope it brings a smile to your face and sets the stage for a peaceful and enjoyable weekend with friends and family.
I went to school in Brooklyn (grades k-5) and Staten Island (grades 6-12) with some of the best teachers during a time when everyone treated each other with respect. We didn’t eat fast food. We drank Kool-Aid, water, lemonade, and we ate homemade food. Casseroles, pasta (lots), chicken, fish, meatloaf, hamburgers, PBJ & bologna sandwiches.
We grew up during a time when kids would gather glass soda bottles to take to the store and use the deposit money to buy something special on Saturday. We cashed in green stamps for special things. We got to go to the local candy store / luncheonette for penny candy… yes, I said penny candy! (We even got a brown paper bag to put the candy in); You sure could get a lot for 25 cents!
We went outside to play games, ride bikes, or baseball in a field or in the street, hide & seek, jump rope, hula hoop, hopscotch and raced against each other down the street. We went fishing or just for an excuse to play in the creek!
There was no bottled water… We drank water from the sink or the hose if we were outside. No microwave or cable!!! No cell phones! And no one got offended by things they didn’t like. We dealt with it. We didn’t cry and act like spoiled children because we didn’t get our way!
We watched TV… like Green Acres, Beverly Hillbillies, and Bewitched, and for adventure we watched Combat, Rat Patrol and Adam-12. But only after our homework and chores were done!
Sunday night was… The Wonderful World of Disney and Bonanza and Italian cookies and pastries from that day’s guests. And there were always guests on Sundays!
If you were bad at school… you definitely got in trouble at school and again when you got home as your parents already knew and you got into trouble again! Prayer and a swat on the butt were allowed in school and you behaved!
Our house was left unlocked… Windows were always open… We would ride our bikes for hours… yes, I said HOURS! All without a cell phone or electronic games. And you made sure you were home before the streetlights came on.
Walking, running, and biking was our way of transportation to visit our friends. We respectfully asked if our friends could come out to play and one by one, we were a group playing together. We fought at times, but immediately made up and laughed about our squabbles. Kids and the teenagers we looked up to didn’t have guns and the thought of taking a life was never spoken.
We LEARNED from our parents, grandparents, and even from our neighbors, instead of disrespecting them and treating them as if they knew nothing… What they said may as well have been the GOSPEL!
You had to be close enough to home to hear your dad’s whistle or your mom yelling to tell you it’s time to come home for dinner. And we sat around the dinner table to eat as a FAMILY! You ate what was put on the table and didn’t leave the table until you finished everything on your plate, or you were excused!
We talked to each other about the events of our day. School was MANDATORY. We loved and respected GOD, stood for the “Pledge of Allegiance” with our hand over our hearts and proudly sang the “National Anthem!” We respected the American Flag and especially anyone in a uniform.
We watched what we said around our elders because we knew If we DISRESPECTED any grown up we would get our behinds smacked and it wasn’t called ABUSE, IT WAS CALLED DISCIPLINE! We held doors open, carried groceries and gave up our seat without being asked to do so.
You didn’t hear curse words on the radio or TV, and IF you cursed you did it away from the public or got your mouth washed out with soap. “Please” and “Thank you” were part of our daily dialogue! We said, “You’re Welcome” instead of “No Problem!”
We were rarely bored! If our parents heard us say such a thing, it was GUARANTEED they would find something for us to do! We knew what an imagination was, and we used it to create things to do! On snow days we shoveled snow for all our neighbors, in the summer we delivered newspapers, washed cars, and mowed yards.
I’m sure I could expand upon all the above and add a lot to the mix. It was a great time. It was a simpler time, and one that I regret children of today will miss out on.
Please SHARE if you’re thankful for your childhood and that you will never forget where you’re from.
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