Mark Garbelotto's Eat That Frog Blog » Brian Tracy programs

The Endgame to Selling

admin — Wed, 18 Aug 2010 04:18:27 +0000

In golf, there is a saying that, "You drive for show, but you putt for dough." In selling, you prospect and present for show, but you overcome customer skepticism and gain commitment for dough. Your ability to answer objections and get the sale is the true test of how good you really are as a salesperson.

The True Test of Selling
This is perhaps the most stressful and challenging part of the sales process. It's where the rubber meets the road. It is your ability to answer the questions that the prospect puts to you and overcome his natural reluctance to make a commitment that wraps up the sales process. It is also the part of the sales process that salespeople dislike the most and which customers find the most stressful.

Plan It in Advance
The end game of selling must be carefully thought through and planned in advance so that you are thoroughly prepared to bring the sales conversation to its natural conclusion at the earliest and most appropriate moment. Fortunately, this is a skill, like riding a bicycle or typing with a typewriter, and you can learn it through study and practice.

Handling Objections Comes First
Handling objections and closing the sale are two different parts of the sales process but they are so close together that this chapter will discuss them as a single function. Just as there are reasons why people buy a product, there are reasons why they don't. Often answering an objection or removing an obstacle is the critical element in making the sale. You can answer the objection and close the sale simultaneously.

Make It a Reason to Buy
Objections can be turned into reasons for buying. Just as there is a primary reason for buying a product, a hot button, there is a primary objection that stops the person from buying it. If you can emphasize the one and remove the other, the sale falls together naturally.

Smaller Products Versus Larger Products
In selling smaller products or services, where you can prospect and make a complete presentation in the first meeting, your approach to closing will be different from that required if you are selling a larger product in a multi-call sale that stretches over several weeks or months.

Ask For the Order
In the shorter, smaller sale, the prospect knows everything necessary to make a buying decision at the end of your presentation. Your aim should be to answer any lingering questions and then ask for the order. In the larger sale, you may have to meet with the prospect several times before the prospect is in a position to make a buying decision. You will have to be more patient and persistent.

Action Exercises
Here are two things you can do immediately to put these ideas into action.

First, prepare yourself in advance for the endgame of selling by anticipating anything the customer might offer as a reason for not buying. Be ready.

Second, look for the hot button, the reason the customer will buy, and press it. Meanwhile, find out his major reason for not buying and remove it.

Want to learn More

Call Mark Garbelotto directly on 1300 795 129

Decide Upon Your Major Definite Purpose

admin — Mon, 01 Mar 2010 02:48:23 +0000

Since you become what you think about most of the time, a major definite purpose gives you a focus for every walking moment. As Peter Drucker said, "Whenever you find something getting done, you fine a monomaniac with a mission." The more you think about your major definite purpose and how to achieve it, the more you activate the Law of Attraction in your life. Helping you to attract people, opportunities, ideas, and resources to move more rapidly toward your goal and move your goal more rapidly toward you.

Activate Your Reticular Cortex
Each person has within his or her brain a special organ called the "reticular cortex." This small, finger-like part of the brain functions in a way similar to a telephone switchboard in a large office building. Just as all phone calls are received by the central switchboard and then rerouted to the appropriate recipient, all incoming information to your senses is routed through your reticular cortex to the relevant part of your brain or your awareness.

A Red Sports Car
Imagine that you decided that you wanted a red sports car. You write this down as a goal. You begin to think about and visualize a red sports car. This process sends the message to your reticular cortex that a red sports car is now important to you. A picture of a red sports car immediately goes up onto your mental radar screen. From that moment onward, you will start to notice red sports cars wherever you go. You will see them parked in driveways and in showrooms. Everywhere you go, your world will seem to be full of red sports cars.

Achieve Financial Independence
If you decide to become financially independent, you will suddenly begin to notice all kinds of opportunities and possibilities around you that have to do with achieving your financial goals. You will see stories in newspapers and recognize books on the subject everywhere you go. It will seem as though you are surrounded by ideas and information that can be helpful to you in achieving your financial goals. On the other hand, if you do not give clear instructions to your reticular cortex and your subconscious mind, you will go through life as though you were driving in a fog.

Your Major Definite Purpose
Your major definite purpose can be defined as the one goal that is most important to you at the moment. It is usually the one goal that will help you to achieve more of your other goals than anything else you can accomplish. It must be something that you personally really want. It must be clear and specific. Your goal must be measurable and quantifiable. Your major definite purpose must be in harmony with your other goals. If you use your reticular cortex and keep your goal in your mind you are bound to achieve it.

Action Exercise
Determine how you will measure progress and success of achieving your goal. Write it down.

The Seven P Formula for Marketing Success

admin — Wed, 20 Jan 2010 01:27:43 +0000

January 20, 2010

The Seven P Formula for Marketing Success
By Brian Tracy

Once you have developed your marketing strategy, there is a seven P formula you should continually use to evaluate and reevaluate your business activities. These seven are: product, price, promotion, place, packaging, positioning, and people. As products, markets, customers, and needs change rapidly, you must continually revisit these seven P’s to make sure you are on track and achieving the maximum results possible for you in today’s Market.

Product
To begin, develop the habit of looking at your product as though you were an outside marketing consultant having been brought in to help your company decide whether or not it is in the right business at this time. Ask critical questions such as: Is your current product or service, or mix of products or services appropriate and suitable for the market and the customers of today?

Prices Deserve Attention
The second P in the formula has to do with price. Develop the habit of continually examining and reexamining the prices of the products and services that you sell to make sure they are still appropriate to the realities of the current market. Sometimes you need to lower your prices. At other times, it may be appropriate to raise your prices. Many companies have found that the profitability of certain products or services does not justify the amount of effort and resources that go into producing them. By raising their prices, they may lose a percentage of their customers, but the remaining percentage generates a profit on every sale. Could this be appropriate for you?

Promotion
The third habit in marketing and sales is for you to develop the habit of thinking in terms of promotion all the time. Promotion includes all the ways you tell your customers about products or services and how you then market and sell to them. Small changes in the way you promote and sell your products can lead to dramatic changes in your results. Experienced copywriters can often increase the response rate from advertising by 500 percent by simply changing the headline on the advertisement.

"Increase Your Sales and Income Immediately!"

If you’re serious about making 2010 the year that you increase your income to where you deserve to be, then call our office on 1300 795 129 to inquire about our Advanced Selling Skills course for high performance sales professionals, running in March 2010.

Place
The fourth P in the marketing mix is the place where your product or service is actually sold. Develop the habit of reviewing and reflecting upon the exact location where the customer meets the salesperson. Sometimes a change in place can lead to a rapid increase in sales.

Packaging
The fifth element in the marketing mix is packaging. Develop the habit of standing back and looking at every visual element in the packaging of your product or service through the eyes of a critical prospect. Remember, people form their first impression about you within 30 seconds of seeing you or some element of your company. Small improvements in the packaging or external appearance of your product or service can often lead to completely different reactions from your customers.

Positioning
The next P is positioning. You should develop the habit of thinking continually about how you are positioned in the hearts and minds of your customers. How do people think about you and talk about you when you are not present? How do people think and talk about your company? What positioning do you have in your market, in terms of the specific words that people use when they describe you and your offerings to others?

People are Everything
The final P is people. Develop the habit of thinking in terms of the people inside and outside of your business who are responsible for every element of your sales and marketing strategy and activities. Your ability to select, recruit, hire, and retain the proper people, with the skills and abilities to do the job you need to have done, is more important than everything else put together.

Action Exercise
Position yourself in everything you say and do as the most credible and believable supplier of your product or service to your ideal customer.

Pump Up Your Profits In 2010!

admin — Thu, 14 Jan 2010 01:53:29 +0000

There is a truism that 50 percent of advertising is wasted, but no one ever knows for sure which 50 percent it is. As a result, advertising budgets always seem higher than necessary. This problem persists in many areas of business today. Money is being wasted, but no one is exactly sure where and how it is happening.

Low Profits or No Profits
Many companies today are earning low profits or no profits because their costs of doing business are not coordinated with their sales. Many products and services are priced by people who are completely unaware of the real costs involved in bringing these products or services to the market. These mistakes in pricing are then buried in the overall operations and general revenues of the business.

Conduct a Profit Analysis on Every Product
One of the most important parts of the Turbo strategy process is for you to conduct a complete profit analysis on each product or service you sell. Very few companies have ever done this. But when you begin applying profit analysis in your company, you can often increase your profits dramatically.

High-Volume vs. High Profit Customers
As you examine these numbers, you will find that, in many cases, your biggest customers are not your most profitable customers, and your biggest selling products or services are not your most profitable ones either. You may find that your costs of doing business with some customers and with some products are so high that it is hardly worth the investment of people are resources. This can only be determined by taking a hard look at the numbers.

Focus on Cash Flow
You need to be your own turnaround specialist all the time, and most especially when business slows for any reason. To pump up your profits, you do a complete profit analysis on your business and move immediately to focus the energies of the company on those areas that represent the very best sources of net cash. This process requires that you continually analyze your business so that you know exactly the profitability of every product or service you sell in comparison with every other product or service you sell, right down to the penny.

From Most to Least Profitable
The fact is that with a little effort, every single product or service can be organized on a scale from the most profitable to the least profitable, both on a per item or per hour basis, and in net dollar amounts. There is always one that is more profitable than any other.

Determine Profitability
You begin your profit analysis by determining the exact gross sales revenues that you receive from a product or service after all subtractions for defects, returns, breakage, loss, wastage, and bad debts. Take every single deduction so that your gross dollar amount is completely accurate, and you are crystal-clear about the exact amount you are netting from sales.

Face the Bitter Truth
You will probably find that fully half of your product and service offerings are generating very little profit or even causing you to lose money with every sale. A turnaround specialist would immediately either raise the prices of the low-profit items or discontinue them altogether. You must do the same.

Action Exercise
Do a complete profit analysis on every product and service you offer. Rank them from highest to lowest.

Ensuring Success at Work

admin — Sun, 22 Nov 2009 12:38:41 +0000

November 22, 2009

Ensuring Success at Work
By Brian Tracy

The very best times you will ever have at any job or company are when you are getting along wonderfully well with your boss. On the other hand, the very worst times you will ever have at any job are when you are not getting along well with your boss. And the major reason why employees have problems with their bosses is because of a lack of clarity about what exactly is to be done, and to what standard, and in what order of priority.

It is important to your boss that you are making the appropriate decisions for the company and completing your job. In order to make decisions effectively, you must know the three types of decisions.

Three Types of Decisions
There are three types of decisions in any organization or family. When decisions involve other people, it is important that everyone is clear about what kind of a decision is under consideration.

Command Decisions
These decisions have to be made by the boss or the person in charge. These decisions are so important that one person is solely responsible for making up his mind about what is to be done.

Hiring a key staff member, firing a poor performer, making an important investment decision, or even negotiating a new loan with the bank are all command decisions. They must be made by the person in charge.

Do you want a wealth of resources you can use at home or in the car to build your knowledge and wealth?

Call our office on 1300 795 129 to order Brian Tracy books and CDs such as The Art of Closing the Sale, Advanced Selling Skills, and Flight Plan.

Consultative Decisions
This is a decision where you, or the boss, ask for advice and take input from other people. You combine the opinions, ideas, and inputs of others, together with your own, and make a decision. Even though it invites the advice and participation of others, a consultative decision is not made based on that advice.

You may be thinking of hiring a new person, assigning someone a particular task, spending a certain amount of money on a business activity, or embarking on a new sales or marketing campaign. If you are the boss, you can ask for advice from everyone before you finally close the door and make your final decision.

Consensus Decisions
The third type of decision is one that is made on the basis of consensus. This is a democratic decision where everyone gets involved, discusses the pros and cons, and then agrees on what is to be done.

Sometimes, everyone is in agreement, and sometimes the decision is made by a democratic vote, where the majority rules. Once the decision has been made, everyone commits to making the decision successful, however they may have voted during the discussion phase.

Action Exercise
Practice participative management with your staff, hold weekly staff meetings and invite everyone to participate and ask questions.

Give the gift of knowledge this Christmas: order your Brian Tracy books and CDs as Christmas gifts for family, friends, clients.

Call 1300 795 129 to place orders for books and CDs like Flight Plan, Speak to Win, and The Psychology of Selling.

Maximise Profits

admin — Mon, 16 Nov 2009 00:53:41 +0000

November 13, 2009

Maximize Profits
By Brian Tracy

Sales are only one barometer for success. Your ultimate goal is to increase profits in order to achieve the greatest possible return on your investment of money, time, and energy. Every customer, activity, product, or service yields a specific profit of a specific amount. In some cases, you may actually be losing money in one or more of these three areas. One of the most important things you can do for your growing business is to determine where to focus the investment of your time and money based on the return thrown off by this investment.

Personal Profitability
To truly analyze the profitability of your business, you must first examine your personal rate of return. From this personal perspective, what is your major expense? It’s your time. By now, you should have developed the habit of continually asking yourself this basic question: Would I pay someone else my hourly rate to perform this task? If not, you are failing to maximize the return on your time. In other words, you are investing your time in an area that yields less than the optimum rate of return. You are incurring a "loss of opportunity" cost. This, in turn, affects the overall profitability of your business.

People Profitability
Payroll represents one of the largest expense items for most businesses. As a business grows, it typically hires additional staff according to the most pressing need at the moment. Once a person has been hired, often she or he can become a permanent fixture, even when the company’s needs change. Many entrepreneurs are too busy creating products, designing services, and generating revenues to pay close attention to employee performance. Over time, the result can be an inefficient and ineffective staff and a bloated payroll.

Do you want to learn how to maximise your profits and increase your sales? Come to Mark Garbelotto’s Selling like a Professional Training Workshop in November!

Customer Profitability
Some customers are more profitable than others; some may actually be costing you money. Can you identify your most profitable customers? Do you know any who are unprofitable? There is not necessarily any connection between the size of the customer or the volume of business he produces and his profitability. There are several questions you should ask as you examine your customers profitability: How often does each customer purchase from you? What is the average size of each purchase? What is the profit margin of the product(s) purchased? How much time is spent providing customer service after the sale? What is the "product returns" record of each customer?

Concentrate on Profitable Customers
Many companies regularly “fire” the top 10 percent of their customers. They stop doing business with those who generate the least revenues or yield the lowest on their return purchases, choosing to concentrate on their more profitable customers and attracting more like them. At the very least, be diligent in rooting out those customers who actually cost you money—regardless of the revenues they generate. You cannot afford to carry this unprofitable load.

Action Exercise
Identify your most and your least profitable customers. Focus on the most profitable.

Learn how to identify your most profitable customers and generate business through Brian Tracy’s proven sales system. Don’t miss out on the Selling like a Professional Training Workshop in Melbourne and Townsville in November!

Call our office on 1300 795 129 to register before this event sells out!

Create Your Sales Plan

admin — Fri, 16 Oct 2009 00:20:36 +0000

By Brian Tracy

Nothing happens until a sale takes place. Your actual ability to sell your product or service to your customer determines your profit or loss, success or failure, in business. The sales process, to be effective, must be planned and organized in detail from start to finish. Every word and action must be scripted, rehearsed and memorized. Nothing can be left to chance.

Sales Recipe
Making a sale is like cooking with a recipe. You must use the correct ingredient and blend them in the proper quantity with the right timing. All successful companies have developed a proven sales process that can be duplicated over and over. By using a proven sales system, you can accurately predict the quantity of your sales, the average size of your sales, and the profitability of your sales activities.

Prospecting
It is important to speak directly or by telephone to people who can and will buy and pay in a reasonable period of time. Start with your ideal customer profile. Who is he or she exactly-in terms of age, occupation, income, education? Who is he or she exactly—in terms of problems, wants, needs, attitudes, and experiences regarding your product or service? If you could advertise for perfect customers, how would you describe him or her?

Marketing and advertising is aimed at telling your ideal prospect that your product will help them. The ideal prospect has an immediate need for what you sell. The ideal prospect knows you, likes you, and respects your products or business. The ideal prospect can buy and pay for your product if he or she likes it.

Do you want to increase your sales income? Come to my new Training Workshop, ‘Selling Like a Professional‘ in Melbourne on November 19th.

Establish Rapport
Establishing rapport and trust with the customer is a must. The prospect will not listen to you or buy from you unless he/she likes you and believes that you are honest. Be friendly, straightforward and believable. Be punctual, prepared and properly dressed. Ask questions and listen carefully to the answers. Make no attempt to sell until the prospect is relaxed and comfortable with you. Identify what the customer needs so you can better sell to them. Ask carefully planned, structured questions so that you can fully understand the customer’s situation.

There is a direct relationship between asking questions and sales success. Plan your questions word-for-word in advance. Make no effort to sell or talk about your product. Seek first to understand, then to be understood.

Presenting Your Product or Service
Repeat back the specific needs or concerns that your prospect has expressed. Position yourself as a trusted advisor, dedicated to helping him solve his problem or achieve his goal with your product. Position yourself as a teacher-showing her how your product works to help her satisfy her needs. Match the customers expressed needs and concerns to the product or service. Focus on helping rather than selling. Conclude your presentation with an explanation of how the product is delivered or used. Invite questions.

Action Exercises
List three phrases or questions you can use or ask to determine if this is a qualified prospect.

My new Training Workshop, ‘Selling Like a Professional‘ will sell out!

You can register for this not-to-be missed event by calling our office on 1300 795 129.

How to Get More Time THIS WEEK!

admin — Mon, 05 Oct 2009 01:24:37 +0000

Imagine having more free time every day to do the things you really want to do in your life.

We’ve had an amazing response to our Mini Eat That Frog! Training Workshop that’s on this Thursday, 8th of October!

In fact, we only have 6 seats left!!

Join those people who are about to discover how to get more time and freedom in their lives!

See below for how to secure your seat!

Not in Melbourne? Click here to find an event near you.

Mini EAT THAT FROG!
Training Workshop

Thursday, October 8th 7:00pm – 9:00pm

written by Best-Selling Author Mr Brian Tracy

In this 2 hour Workshop you will discover how to:

Stop procrastination by eliminating low-value,no-value activities
Overcome obstacles that can derail your path to success
Achieve Your Goals in the 5 Key Areas of Your Life
Apply the ABCDE method to prioritise your highest value tasks
High Performance Time Management and much, much more!

Plus Connect with people for Win/Win networking like you’ve never seen before!

Presented by Mark Garbelotto- Brian Tracy International Master Trainer

VENUE:

London Tavern Function Centre 414 Hawthorn Rd, Caulfield South

REGISTRATION:

6:30pm for a 7:00pm start.

$47 Single Pass – book online. Or by calling 1300 795 129, includes refreshments.

To register and receive over $200 in free Brian Tracy products, call Francis on 1300 795 129 or book online at www.eatthatfrog.com.au/mini

"You cannot save time. You can only spend it differently. The difference between highly effective people and unproductive people is that highly effective people allocate their time better than others." -Brian Tracy

Kind Regards

Mark Garbelotto

Master Brian Tracy International Trainer

P.S. Please remember to bring plenty of business cards as this event will be a brilliant opportunity to connect with other business owners and entrepreneurs to form strategic alliances.

Communicate With Power In Perth On The 7th Of September 2009

admin — Sat, 29 Aug 2009 23:44:13 +0000

Empowering Others
By: Brian Tracy

Get the Cooperation of Others
Empowering people is the key to building a high-performance team. Once you empower people by learning how to motivate and inspire them, they will want to work with you to help you achieve your goals in everything you do. Your ability to enlist the knowledge, energy and resources of others enables you to become a multiplication sign, to leverage yourself so that you accomplish far more than the average person and in a far shorter period of time.

Determine the Key People to Empower
There are three types of people that you want to and need to empower on a regular basis. They are, first of all, the people closest to you: your family, your friends, your spouse and your children. Second are your work relationships: your staff, your co-workers, your peers, your colleagues and even your boss. Third are all the other people that you interact with in your day-to-day life: your customers, your suppliers, your banker, the people with whom you deal in stores, restaurants, airplanes, hotels and everywhere else. In each case, your ability to get people to help you is what will make you a more powerful and effective person.

Always Be Positive
Empower means "putting power into," and it can also mean "bringing energy and enthusiasm out of." So the first step in empowering people is to refrain from doing anything that disempowers them or reduces their energy and enthusiasm for what they are doing.

There are things you can do every single day to empower people and make them feel good about themselves.

Satisfy the Deepest Needs
The deepest need that each person has is for self-esteem, a sense of being important, valuable and worthwhile. Everything that you do in your interactions with others affects their self-esteem in some way. You already have an excellent frame of reference to determine the things that you can do to boost the self-esteem and therefore the sense of personal power of those around you. Give them what you’d like for yourself.

Continually Express Appreciation
Perhaps the simplest way to make another person feel good about himself or herself is your continuous expressions of appreciation for everything that person does for you, large or small. Say "thank you" on every occasion.

Thank your spouse for everything that he or she does for you. Thank your children for their cooperation and support in everything that they do around the house. Thank your friends for the smallest acts of kindnesses. The more you thank other people for doing things for you, the more things those other people will want to do.

Action Exercises
Here are two things you can do immediately to put these ideas into action.

First, continually look for ways to make people feel more valuable and important. Say things to others that you would like others to say to you.

Second, express appreciation for everything anyone does for you, large or small. Say the words, "thank you" on every occasion.

Mastering Meetings with Small Groups.

admin — Sun, 23 Aug 2009 10:14:31 +0000

By Brian Tracy

Your ability to speak well and persuasively in small meetings can have an extraordinary impact on your life and career. In business, others continually assess and evaluate you. Consciously and subconsciously, they are upgrading or downgrading their opinions of your personality, ability, competence, and level of confidence. For this reason, you must think of business meetings as important events in your career.

Small-Group Meetings are Important
Many of your presentations and speaking engagements will be with smaller groups of people, sometimes as few as one or two others. These meetings, just like a large talk or presentation, must be prepared for and planned with care. How you perform can make or break your career.

Prepare Thoroughly
The starting point of meeting effectiveness is thorough preparation. Preparation is immediately obvious to everyone who attends, as is the failure to prepare. If you are running the meeting, plan it. Prepare an agenda. Select the people whom you are going to invite and inform them of their expected contributions. Organize the meeting as though it were an important part of your business life, because it is.

Consider the Importance of Seating
Arrive early at the meeting so that you can choose your seat with care. If it is your meeting, sit with you back to the wall, facing the entrance so that you have visual command of the room and you can see everyone entering and leaving. When I hold meetings, especially if they are important, I specifically designate where each person is going to sit in the meeting. This ensures that I have the most important people sitting in the most important places.

Be Punctual
Start on time. Assume that the latecomer is not coming, and begin. Thank the participants for coming and give the reason for the meeting. Explain the structure of the meeting and how it will be conducted. Give the end time for the meeting so that everyone knows when it will be over.

Avoid Criticism or Negativity
If you are leading a meeting, you have tremendous power. Everyone looks up to and defers to you as the leader. Everything you say is magnified and multiplied, either in a positive or negative way. When other people are contributing to the meeting, you should nod, smile, and support them.

When you sit opposite a person–across a table or desk, for example–the furniture can act as a physical and psychological barrier to communication. It subconsciously suggests that you are on opposite sides and that your points of view are antagonistic. To resolve this dilemma, one of the best things you can do is ask to sit kitty-corner to the key person. When you sit next to a person rather than opposite him, unseen psychological barriers seem to drop and you communicate with greater warmth and friendliness.

Action Exercise
The mark of a professional in every field is preparation. Go into any meeting knowing what you want to say and discuss with the rest of the staff. Take time to mentally prepare for the different points people could make and how you will handle them.