Business

Do you have a quota? Most sales people do. But I’m going to tell you something today that would probably cause your sales manager - if you have one - want to shoot me.

If you have a quota - forget about it.

Why do that? Well, a quota is a goal that belongs to someone else - not you. And when you are working for someone else’s goals you will find it difficult, un-motivating and eventually leading to burn out. Your goals have to be your own or you will find it difficult to reach them. Period.

So here’s what I want you to do: after you completely purge your mind of all the dollar targets, call numbers, appointment counts and anything else that some well meaning - or some not-so-well-meaning - manager or boss (or spouse) has bestowed or otherwise perpetrated on you, get out a blank sheet of paper and write down the categories of things that you think are important that build to success in your sales process. Then set your own goal for each of those things.

What do you believe in? What do you think you can achieve between now and the end of the month or the quarter or the year? What do you think will produce the money you want to make so you can have the house and the car and the vacation that you want to have? Make it all your own and don’t let anyone else’s expectations influence what you believe you can achieve.

Now after you’ve done that you will either be above or below the quotas and expectations that you think determine your job security.

Well if you end up setting goals above those expectations - I won’t be surprised. Good job and get after it.

But if your numbers come out below somebody else’s - then think about this: First, I bet that if you make significant and visible progress toward those ideals that you’ve been saddled with - you won-t have anything to worry about. What I have seen in most organizations is that call numbers, quota dollars, clubs and all of that are mostly intended to get the sales force moving and they aren’t really do or die numbers…no matter what they say. They are unlikely to invest all that is invested in you and just when you are moving, pull the rug out from under you and start all over with a rookie that doesn’t know half of what you do about the company and the market and the product.

But let’s say you don’t believe me or you really do work for a tyrant that enjoys chopping heads off. Well, set your own goals anyway and even if they are below the standards I promise you this: you are more likely to make and believe in accomplishing someone else’s standards if you are moving toward them on the way to your own goals and standards than if you are desperately operating from fear and uncertainty as you fumble toward theirs.

Set your own goals. It’s your career, your effort, your money and your life. Own it.

In business you are either climbing or falling. Competition for marketplace success requires more focus, tenacity, skill and strategy than ever before. It only makes sense to tap into experience, perspective and wisdom to make certain you are climbing the right direction on the success ladder - And confident that when you get to the top there is no top!

After over 20 years as a business coach and entrepreneur Coach Steve Dailey, Prime Focus Coaching and Achievement Bridge Founder, is certain of at least two things:

1 - There is something new to learn everyday if you are paying attention.
2 - Business people that don’t look for something new to learn everyday have less money and less time.

If you too know you can stand to learn a thing or two about business - then Coach Dailey can virtually guarantee your gateway to new success is through Laser Minute, a free weekly ezine - check it out at http://www.achievementbridge.com/ezine/LaserMinuteReg.htm

Entrepreneurs are no strangers to mistakes. Mistakes will happen - with considerable frequency - and the value in making those mistakes is learning from them and avoiding them in the future. You can also study the mistakes of others that came before. Plenty of successful entrepreneurs are quite open about mistakes they’ve made, why they made them and what they learned. We don’t need to keep repeating each other’s mistakes over and over.

But, that’s quite often the case. When it comes to startup mistakes you’ll see many companies making the same ones over and over.

Here are 5 of the most common mistakes made by startups:

1. Staying in Stealth Mode Too Long. New startups seem quite fond of stealth mode (or its newer cousin “ninja mode”), when they’re hiding under the radar but still hyping just enough to try and pique interest. But stay in stealth mode too long and you run the risk of disappearing off the radar. Never mind the fact that you can’t sell your new product or service while in stealth mode and therefore can’t generate any revenue. There are plenty of reasons why startups launch too slowly; really you need to force yourself to launch and get past all the excuses.
2. Not Focusing on the User. Who are you building your new product for? Who is the precise target? Many startups can give a generic answer to that question, but very few of them are really honed in on the specific wants of their “perfect user.” This is a combination of too little research and too much enthusiasm for what they think is “the next killer idea.” This mistake is compounded if you’re building something that you wouldn’t use yourself. Building something you would use makes things easier - you’re the target user. Otherwise you need to take a much more pragmatic approach.

As well, many startups take the approach of “being everything to everyone.” That strategy never works. You end up being nothing to anyone.
3. Trying To Do Everything. If a task isn’t core to your business try and outsource it. Entrepreneurs are extremely fond of saying they wear many hats (which is true!) but there’s a limit to what’s reasonable in the hat-wearing department. Lots of things can be outsourced, and although you’ll be paying someone else to do the work, you’ll be freeing up precious time of your own. That time will be infinitely more valuable than the money you spend.
4. Not Having Enough Infrastructure. Many startups don’t have the proper tools in place to start their business. Primarily, money and time. It’s getting cheaper and cheaper to start companies nowadays but it’s never free. Lots of people start companies without realizing how much money it’s actually going to take. When they clue in, and decide they don’t have the money to invest (or they’re not willing to part with it), they’re in trouble.

Startups face similar challenges with time. People often start companies while working full-time jobs. It’s doable but damn hard. And as soon as the startup gets a bit rocky or other interests come into play, the startup company gets shelved or delayed. Paul Graham comments on this beautifully in The 18 Mistakes That Kill Startups. His theory is that people get into startups half-heartedly and that’s what kills them. I think that’s part of the answer. The other side of that coin is that people truly do care and believe in what they’re doing, but they don’t have the infrastructure and bandwidth in place to make it happen.

Infrastructure issues are also related to a startup’s lack of connections and resources to find good vendors, good hires, mentors and people to rely on. A couple guys in a garage may have a great idea and tons of talent but when they need help securing a loan or handling a business-related task they may not have the network or foundation in place to support them.
5. Forgetting About Branding, Marketing and Sales. I know there are examples of companies succeeding with a “build it and they will come” approach. Some people argue if you build something people want they’ll find it and plunk down their hard-earned money. It happens. But more often than not you need to develop real, actionable and savvy branding, marketing and sales strategies. You might have a great product and the wrong message. Or a killer software application that no one knows about. It’s rare to have a startup where the founders (or one of them) has real experience in branding, marketing and sales. The result is either all the founders do it (and often poorly) or they all pass the buck.

You can take a “build it and they will come” approach and hope for the world to pick up your scent and fall in love with you, or you can figure out how you’ll get the message out, what that message will be and how you’ll generate leads. Go with the latter.

The good news is that almost every mistake can be undone, and it’s rare that one mistake kills a startup completely. So feel free to make them - but skip those listed above…

Source: http://startupspark.com/the-5-most-common-mistakes-made-by-startups/

Dealer Leasing Tricks

Too often when it comes to auto-leasing, people get so dazzled by the
myriad terms and the jargon thrown their way that they end-up paying
through the nose, relying on a dealer’s “help” than their own informed
decision.

Here is a look at some of the tricks dealers use to pad their profits and
leave the customers shelling hundreds of dollars more than the deal should
be worth.

Trick 1: Leasing always a better deal than buying

Dealers use the lure of lower-monthly payments to entice customers to sign
for long-term loans, with terms stretching for five years or more, making
the payments even lower. There are two catches with such lengthy contracts:
higher mileage, exceeding the prescribed limit, and hefty repair costs.
With
leases charging on average 10 to 20 cents a mile for any extra mile over
the agreed amount in the contract, and warranties only covering three
years,   you leave yourself wide open for hefty charges for excessive
mileage and wear and tear.

Trick 2: Cheap 2-3% APR rate on your lease

The dealer is not quoting the interest rate you would be paying on your
lease; he’s rather giving you the lease money factor. Whilst similar to an
interest rate and important in determining your monthly payment, a more
accurate rate is calculated by multiplying the money factor by 24. For
example a “cheap” 3% money factor is 24 X 0.003 = 7.2%. This gives you a
better sense of what your annual interest rate on your lease contract is.

Trick 3: Stress-free early lease termination

Dealers know consumer driving needs change and they would like to have the
option of getting out of a lease commitment sometime down the road, before
their lease ends. Truth of the matter is, when you sign for a lease, you
are effectively saddled with monthly payments for the remainder of the
lease term and there is little-choice of getting out early. Lease contracts
carry hefty financial penalties for either defaulting on monthly payments
or terminating the lease earlier than the scheduled term.

To avoid being on the receiving end of such tried-and-true tricks, educate
yourself about leasing. Get down to the nitty-gritty and understand what
the leasing terms used by dealers mean. Crunch the numbers along with him
and understand how they arrived at the monthly payment figure. Don’t sign
anything until you’ve understood all the terms and your numbers much those
of the dealer. Do not let the dealer pressure you into signing; you are the
one to determine whether the agreement is right for you.