Sunday, July 27, 2008

3 Factors for Success

I have often weighed in on the debate of what makes someone successful. I.E. What makes someone good at sales? What makes someone land their ideal job? What gives someone that little extra something needed to succeed? I’ve read all sorts of books on the subject, listened to several speakers, and absorbed a hearty portion of advice.

Here are three key factors that I have come to hold as absolutely necessary.

1) Confidence and Enthusiasm-
In your product. In your service. In yourself. If don’t have it, others (customers) can tell--No matter how hard you try to mask it with clever slogans or polished words.
In other words, if you are selling a product that you believe is high on price and low on value, one that your customer shouldn’t buy, then why would they?

If you don’t have confidence and enthusiasm, you might still see some success, but you won’t last. You can’t last. Why would you want to last? You must love your product (service, self etc.). Study it. Know it. Use it.

2) Mental toughness-
This one gets all sorts of different names. Iron will, determination, tenacity…etc. etc.
I call it: Riding the Wave. Despite the fun sounding surfer reference, riding the wave is actually a very hard and dangerous thing to do.

Picture in your mind a wave with peaks and valleys. This horizon created by the wave in your imagination is like a timeline of life. We have ups, we have downs. People tell us YES, and people tell us NO. We make the sale, we loose the sale. We land a great job, we blow an interview. These things are realities. Obviously, losing a sale is not as exciting as closing a great deal, but we do have the capability to decrease the distance between the crests and the troughs. There are a lot of ways to do this, which just got my cogs churning for another blog post. Suffice it to say here that successful people stay above the wave. Their thoughts and emotions are independent of their environment. Their mind is not shaped by the daily ups and downs.

3) Hard Work
Yup. Sorry. Your dad/mom/uncle/grandma (whoa, weird visual…) was right. Its all about hard work. Hard work will trump talent—at least in the long run. In a boxing match, talent may take rounds 1 and 2. It might event take rounds 3, 4 and 5, but in the end it will be hard work with the huge golden belt and million dollar contract at the MGM grand.

Remember this: It doesn’t matter how phenomenal you are as a sales person, it doesn’t matter how mind-blowing your presentations are if THERE IS NO ONE TO GIVE THEM TO. Sales, especially, is largely a numbers game. Although it is important to increase your efficiency, hard work is vital.

The same is true in other areas of life. I have seen countless, seemingly ordinary people out work those around them and rise to great heights. Go to your local Barnes and Noble and you will find hundreds of books telling such stories.

Final thought: Here is the great thing about these 3 keys: they apply to all areas of life. Try it. Stop and think about any area of your life and apply these principles. Rinse and repeat.

Monday, July 7, 2008

Pringles: Don't call me a potato chip!



In an interesting case, a British tax court ruled that Pringles are, in fact, not potato chips (or crisps as the British call them). Proctor and Gamble, the company behind Pringles fought for the ruling in order to avoid at 17.5% tax on “potato crisps, potato sticks, potato puffs and similar products made from the potato, or from potato flour, or from potato starch”.

Ok, so what are Pringles made of? Only 42% of the product is made from potatoes. And what makes a potato chip a potato chip?--Apparently more than just being made from potatoes. According to the high court’s decision, shape and crispness must also be considered.

Aside from the, ahem, deep soul-searching questions about what actually makes a potato chip a potato chip, the interesting thing here is that Proctor and Gamble fought to essentially prove that their product is not a potato chip. Now I don’t know all of the details about Pringles’ sales internationally (will the tax savings in the UK off-set any decline due to the new “we are not a potato chip” revelation?) or whether consumers already didn’t view the chip crisp potato flavored circular snack as a potato chip, but I certainly hope P&G considered the potential brand erosion by fighting this case.

What do you think? Was this good business strategy, or did Pringles just take a step toward being stuck between the pork rinds and yellow zingers on the bottom left hand corner of your grocer’s shelf?

Thursday, May 22, 2008

How Much is Your Network Worth?


The other morning while brushing my teeth and brainstorming ideas for an upcoming breakfast meeting about social networking, I had a thought—How much is a network worth? Not in the mystical, invaluable way, but in the cold, hard cash way.

Obviously having a strong network and a reputation to match can often allow you to charge a premium for your service or product. It can also open doors to opportunities you may not have experienced otherwise.

So how about when it comes to something like salary negotiation? Is your network worth an extra $5,000? $10,000? $50,000?

If someone offered you money just to use your network, how much would you sell yours for?

Please share your thoughts…

Monday, March 31, 2008

Youtube adds Utility

Adage reports that Youtube is now offering audience tracking tools. It seemed only a matter of time before this would happen. Now that Google owns the video sharing site, it only makes sense that the company would utilize internal synergies. Surprisingly, it did take awhile for Youtube to take advantage of Google's analytics abilities, but some lag is to be expected with such an acquisition. Which begs the question, how effective would Microsoft acutally be at integrating the two different cultures should its bid for Yahoo be successful?

Monday, March 24, 2008

Kentucky uh....Grilled Chicken??


USA Today reported today that KFC is about to undergo some major transformations. What’s new? Oh, just an overhaul of their brand image. According to the article, in the plan is a makeover of the famous bucket as well as a new “Now Grilling Sign.” The goal is to give grilled chicken equal billing. It will be interesting to watch this transformation, and how well the company maintains its brand identity.

Here is the article: (Click for the entire article)

KFC goes to the grill
LOUISVILLE (AP) — What in the name of
Colonel Harland Sanders is going on at KFC? The chain built by his secret recipe for fried chicken is about to give equal billing to, gulp, grilled chicken. Kentucky Fried Chicken customers will be greeted eventually by lighted "Now Grilling" signs, starting in coming weeks in select U.S. cities. Storefront signs will be altered to promote the new product — called Kentucky Grilled Chicken. Even the brand's ubiquitous chicken buckets will get a makeover.
HEALTHIER OPTIONS: KFC plans 'important' trans fat 'milestone'
RELATED: KFC asks for papal approval of new fish sandwich
ORIGINAL: KFC 'secret' recipe locked away
"This is transformational for our brand," said Doug Hasselo, KFC's chief food innovation officer.
Louisville-based KFC, a subsidiary of Yum Brands (YUM), hopes grilled chicken will lure back health-conscious consumers who dropped fried chicken from their diets, or cut back on indulging.
KFC announced last year that fried chicken at all its U.S. restaurants had zero grams of trans fat per serving after the chain switched cooking oils. KFC says the grilled chicken has significantly fewer calories and fat, plus much less sodium, than its Original Recipe fried chicken that launched the brand more than a half-century ago.



Friday, March 21, 2008

Building an Effective Referral Program (Linkedin ?)

Another linkedin question
Question:

I am looking to build upon my company´s referral program
I work with a Marketing company with ties in the Cancun Travel, and Tourism industry. I am apart of their newly formed referral program, and was recently brought in due to my previous success in the sales department. They already had the following in place: Referral Program Promotional Post Cards (4 per Owner
meant to be given to friends) Special Promotional Prices to recipients of
Referral Program Specifically targeted Email & Direct Mail Campaigns
Establishment of a Refer a friend discount (click here for the entire question and all answers)
My answer:

The first thing I would recommend is researching why(why not) an Owner
recommends his/her friends. Often, the reason someone won't do something is a
lack of understanding.

  • Do they understand exactly what they are supposed to do?
  • More importantly, do they understand what's in it for them?
  • Do they understand what's in it for their family and friends?
  • Do they know how you will follow-up with their family and friends? (I.E. are you going to pester them? High pressure sales?)

Secondly, I agree with the importance of follow-up, and as David
mentioned, actually asking for referrals rather than relying on passive methods
only. In my experience, the best way to increase referrals is to create a
culture where giving referrals is exciting and completely normal. One way to do
this is through the promotion of third party stories. Find some case studies of
Owners who referred their friends and then went on vacations together and had a
blast. (Don't forget to talk about all of the discounts, incentives etc. that
both parties enjoyed as a result of the referral program

Thursday, March 13, 2008

Taking the Leap

About 2 months ago (before this blog existed), the following question was posted on LinkedIn:
Taking a quantum leap...

From your experience, what is the biggest obstacle already successful individuals face in taking their lives to the next level?

Here was my response:
“I believe Jim Collins has an excellent answer for this in his book Good to Great. He suggests that "good" is acutally the enemy of "great". I believe this is why many people do not take it to the next level ( or become great). They are content with being good. I also believe the standards we set for ourselves have a significant impact on our results. We must constantly reevaluate our own personal (or corporate, family etc.) performance standards in order to grow. When the level you are at no longer excites you, drives you, impassionates you, you have to change your standards and push yourself further.”

I decided to start posting some of my answers to questions on LinkedIn because I don't have as much time to dedicate to the blog as I would like.