The Freestyle Entrepreneur

Pain or gain?  That is why people buy – always! 

As Entrepreneur Dan Paulson points out in his book, Apples to Apples: How to Stand out From Your Competition, “every purchase is an emotional purchase.”

Your product or service either takes away the pain (I need a car or else I must walk to work.) or offers some kind of gain (My new phone does more and costs less.) 

Your job?  It is to help them either understand the pain of not taking a desired action (If you do not buy this product for your business, you will fall behind your competitors.), or to see how this new product or service will make their lives better/easier/happier/etc. (Investing in this class will show you how to get more done in less time, giving you more time for your family.) 

What to do:  When crafting your marketing materials and sales presentation, always keep the pain-and-gain concepts clearly in mind.  One or both are the reasons behind all decisions to buy or not to buy.   

Work hard.  Make money.  Have Fun.  And sell to the key elements of pain or gain. –

John R. Ingrisano

The Freestyle Entrepreneur

“Every purchase is an emotional purchase….  People are primarily motivated to buy by two factors – pleasure and pain.  A business has to offer products or services that reduce pain, increase pleasure, or do both.” – Dan Paulson, president, InVision Business Development

The Freestyle Entrepreneur

“Thankls yo for your ordr.  We will skip it iwtnng two wbusi9ness days.” 

Ever get an email, letter or memo like that?  Sure, that may be an extreme example.  However, we all see messages like this way more often than we should.  (And, yes, I admit, typos get by me from time to time.  They happen; however, I work hard to reduce them.) 

It’s a three-fold problem:  First, thanks to the internet, we receive and send a ton of email these days.  As a result, the potential for errors is high.  Second, thanks to the pace of business, we’re in a hurry.  When we receive those hundred or more emails each day, we are tempted to fire off responses  in a mad rush.  Third, thanks to a broken educational system, we’re not learning solid writing skills in school anymore.  I’m seeing younger men and women who lack a knowledge of many of the basic writing skills.    

Still, no excuses, when we let sloppy copy get out the door or slip through the internet, here is what is says about us:

• We are uneducated.  Even if we have five college degrees, our writing says we need to go back to third grade.

• We’re lazy, irresponsible, and unmotivated, not even willing to take just ten minutes to read through and proof our copy before sending it out.

• We do not have an eye for detail.  In other words, we’re sloppy. 

Most of all, poor writing hurts our credibility.   Most errors creep into our copy because we’re in a hurry.  That’s understandable.  We’re busy, and we end up firing off emails, memos and letters at breakneck speed.  Still, sloppy copy hurts us, and it can hit us where it hurts most … in our bottom line.    

What to do:

1. Proof-read your copy.  If it is worth sending out, take ten minutes to make sure it is right.  Don’t have the time?  Then come in 30 minutes early each day.  If it is worth writing, it is worth getting right.

1. Get someone else to proof your copy, especially if you are weak in your writing skills.  Delegate it to someone who knows the difference between “effect” and “affect,” or when to use “who” and when to use “whom.”

1. Don’t ever think that it does not matter.  A lot of folks think it is very important.  I have seen people lose contracts because the prospect caught a basic spelling/grammar error that destroyed the sender’s credibility.  Remember, some people love and appreciate words and writing.  They will take offense (and judge the writer harshly) when spelling and grammatical errors go out.

1. Take a course to improve your writing skills.  A one- or two-day seminar on basic grammar and proofreading can improve your writing dramatically.  It is that important.  Just do it.

The bottom line:  Poor writing skills can cost you money, alienate customers, and make you look incompetent. 

Work hard. Make money.  Have fun.  And when you write your next letter or email, take the time to write it right!  — JRI

The Freestyle Entrepreneur – winner of the 2010 Top 35 Entrepreneur Blog awards from OnLine MBA.

John Ingrisano

The Freestyle Entrepreneur    

209  Church Street

Algoma, WI 54201

(920) 559-3722

www.TheFreestyleEntreprenuer.com

Want more biz tips and support?  Visit www.TheFreestyleEntrepreneur.com.

The Freestyle Entrepreneur

Looking for a way to accelerate your business success?   Find someone who is already in the winner’s circle and hire that person to be your coach.

I’ve been in training, marketing and sales for four decades.  However, I still bump into things I do not know.  Rather than try to bull my way through, I’ve learned that the best way to master new skills often is to recruit people who already know the lay of the land and the best ways to be successful.

I invite them to get together and ask for advice.  If possible, I ask if I can pick their brains in exchange for the price of a lunch together.  Most people are more than willing (if not downright flattered) to share ideas.

For significant career changes, consider hiring a coach … yes, paying good money to learn from someone who is a super success and can teach you a lot.   

For example, I recently took on a new client that provides specialized training in public seminar settings.  There is also a fair amount of resource promotion as part of each program.  I found that I was knocking ‘em dead in the seminar, but just not getting the hang of the resource presentations.  Everything I tried just did not work.    

So, I asked around and found another trainer who is very good at this aspect of the seminars.  Though he’s almost half my age, he knows his stuff.  (Old dogs should never be afraid to learn from young pups.)  After just one 90-minute coaching session (during which I had a handful of “aha!” moments), I made some minor adjustments in my presentation and – bang! – things began turning around the very next day.  I could have spent months trying to figure out the solution on my own. 

Recommendation:  If you are starting a new business, entering a new phase in an existing business, stuck on some persistent weak area, tackling a new market, or just tired of loping along experiencing so-so success across the board, track down someone who is already hitting home runs in that area.  Think big; find the best.

Again, do not be afraid to pay for quality coaching.  Just as you invest in new equipment to stay competitive, invest in quality knowledge and skills information.  It can be a darn good investment.

Example:  Imagine if you are currently earning $50,000 as a sales representative or financial advisor.  Not bad, but not all that great, either.  What if you hire as a coach, a heavy hitter, someone who is currently earning $150,000 in the same field?  (Remember, learn from the best.)  Now let’s say you pay $5,000 for six months of coaching and, as a result, double your business to $100,000 in sales within a year.  Do that and you have one heck of a return on investment.  It is money well spent.    

Plus, you could achieve that success in weeks or months, while trying to learn those same skills on your own, through trial and error, could take years … or forever.

So, work hard, make money, have fun … and consider finding a coach to fast-track your success.  – JRI

The Freestyle Entrepreneur 

Knowledge and skill-building are crucial to continued business success.  We constantly watch our markets, look for ways to cut expenses, boost profits, better manage our inventory and personnel.  Plus, we update our websites, adjust our marketing materials, and look for new ways to do business.      

What about our verbal skills?  When was the last time you considered that your ability to express yourself to a prospect, a customer, a lender or a supplier can make a sale, get you a lower interest rate or a better deal on inventory?  It’s true. 

So, why not improve your verbal communication skills?  It’s money in the bank.  That’s right.  Imagine building and finessing your ability to connect with your customers and business associates:  improving and refining your body language, your vocal tone and pitch, even your presentation organization and structure.  Sounds great, but how?

Well, here is where I am going to make a blatant pitch for a great organization.  It’s nonprofit and, no, I do not get a commission for every new member I round up.  This commercial is a labor of love. 

It’s called Toastmasters International.  Started in 1924, Toastmasters currently has more than 260,000 members around the world.  Each Toastmasters meeting is a learn-by-doing workshop in which participants have the opportunity to hone their speaking and leadership skills in a friendly (aka: safe) atmosphere. 

I’ve been a member of my local club (the Green Bay Yackers) for about two years.  During that time, even though I walked in thinking I was hot stuff, I have since learned more about how to communicate effectively than I ever imagined.  Based on the people I’ve met and what I’ve learned, I’ve become a big believer in this organization, which has challenged me to keep growing and improving my verbal skills.

One of the best aspects of each meeting is that presentations are constructively evaluated.  I personally love the instant feedback that, on one hand, boosts my self-assurance and, on the other, points out areas in need of improvement.  (For me, that would be eliminating the “ahs” and “ums” and slowing down my pace.)

Just as important, for those of us with a competitive spirit, there are district, regional, state and international competitions.  You can take Toastmasters as far as you desire. 

Finally, for me, even though I’m an old dog and no longer susceptible to flattery, glitter and gee-gaws, I must confess that I absolutely love displaying the five first-place trophies I have on my shelf.  (Okay, I am still susceptible.  Sue me!) 

Where can you find a Toastmasters group near you?  Look in the phone book or go to www.toastmasters.org.  Oh, and BTW, you are encouraged to visit meetings to check out what goes on … no pressure or obligation to join.  Do it!

The bottom line:  As business people, our manner, style and verbal skills are just as important as our product and business knowledge.  Hone and build those skills and I guarantee (well, almost guarantee) that your customer base, your relationship-building skills, and your sales figures will climb steadily.         

So, work hard. Make money.  Have fun.  And take your verbal skills to the next level!  – JRI

The Freestyle Entrepreneur

Too often, in business, we’re afraid to ask for the money.  Here are two examples – one how to do it right; the other how to waste time and money doing it wrong.

Example # 1:  I’ve had the same veterinarian for my dogs for about 10 years.  In the past, she’d do the annual checkup, give the shots and hand me the bill.  I never carried my checkbook with me, but instead took the bill home and paid it faithfully within two weeks.  Though I always paid, it was just a habit, this delaying payment. 

I suspect some other of her customers were not always so diligent, requiring her to bill them several times.  I also suspect she had a growing list of uncollected collectibles.  In this respect, I estimate that she may have spent an hour or two a month re-billing customers, time she could have used to see more patients or spend with her family.

Well, about a year ago, she handed me the bill after giving Rocky the Boxer his annual toe-to-tail once-over.  I began to pocket it, when she (very likely screwing her courage to the sticking place, as Shakespeare would say) told me that payment was due at the time of service.  I hemmed and hawed and said my checkbook was at home.  She reminded me that she took credit cards.

I admit to being a tad flummoxed at this change in our routine.  Still, I had no grounds for my annoyance.  I handed her my credit card and, while signing the slip, found myself recognizing that she had made a good business policy decision in requesting/insisting on payment at the time of service.  It helps that she’s an awfully good vet.  She has a good, gentle manner with my dog and takes the time to explain things to me.

I was in last week, finished up the appointment and had my credit card out before she even wrote up the bill.  She gets her money promptly, cuts down on invoicing time and money, and still has my respect and loyalty as a customer.

Example # 2:  I needed a glazier at my place a few months ago to replace a window pane.  (I hate it when I leave my keys in the house and have to break into my own place!)  He was great, driving almost 20 miles each way to get there the same day and fixing the window within 30 minutes.  I whipped out my checkbook, ready to pay on the spot, but he declined to accept my money.  Instead, he billed me several days later, and I paid the invoice within two weeks. 

Now, I’m not criticizing this fellow’s work or his integrity.  On the contrary, he is top quality.  However, I suspect he knew what the cost would be by the time he finished replacing the glass and could have either taken five minutes to write up an invoice on the spot or even just said, “Oh, that’ll be X dollars.  Cash or a check works.”

However, he must have devoted at least 15 minutes to writing up and mailing me his invoice, for a job that was very small, a very inefficient and unnecessary process. 

My point:  Be bold.  Ask for payment at the time of service.  Stop invoicing customers/clients for fixed-cost services or items or when the cost is easily calculated.  If necessary, write up a price sheet of your standard prices and circle the appropriate one at the time of sale/service. 

Then take that extra hour or two a week and go do something special with your spouse, children or just a good friend. 

So, work hard, make money, have fun, and be sure to ask for the money!

John R. Ingrisano

The Freestyle Entrepreneur 

Fred Pryor/Career Track, the seminar people, have become one of my key clients.  I get to travel around the country and do business workshops.  Pretty neat.  Check them out at www.pryor.com. 

One of their policies is to encourage their contractors to analyze the events of the day, to create a list of LBs (what you “liked best” about your last presentation) and NTs (things you would do differently “next time”).  I’m finding that it is valuable process for learning, growing and improving.  I’m also finding that writing down my LBs and NTs can be surprising, as I realize things I might have overlooked.

Just as important, it is also a positive experience.  NTs aren’t about things you’ve screwed up (SUs?), but activities/actions that could/should be done differently/better the next time.

So work hard, make money, have fun, and track what you’re doing right, as well as where you can improve.    

John Ingrisano

The Freestyle Entrepreneur    

209 Church Street

Algoma, WI 54201

(920) 559-3722

www.TheFreestyleEntreprenuer.com

Want more biz tips and support?  Visit www.TheFreestyleEntrepreneur.com.

The Freestyle Entrepreneur – winner of the 2010 Top 35 Entrepreneur Blog awards from OnLine MBA.

The Freestyle Entrepreneur

Are you in or are you out?  Too many business owners these days (and, yes, their employees and sales people, too) are only half-committed.  They’re burned out, fed up, on the verge of going under.

They coast, going through the motions of their responsibilities, both dreaming about last weekend’s football game or watching the clock, counting the days ’til their mindless vacation to Disney World.  They’re everywhere but present and focusing on their jobs, their careers, their lives.

The solution:  Be there!  Put the clock away.  Focus on your responsibilities today … and on DOING them to the very best of your ability.  Be surprised when five o’clock Friday arrives.  (Oh, and then plunge head first into your weekend, too!)

Work hard. Make money.  Have fun.  And be there!   – JRI 

                             – Stephen C. Lundin (Fish! Tales)

If you’re like many business owners and dedicated managers, it has been a tough year.  I know I’ve been booking long hours to keep my business in the black. 

The problem:  A lot of us are cutting into serious personal time … and there is a price you may end up paying.  Yes, work a few seven-day weeks and some 12-hour days.  That’s what you may have to do these days. 

HOWEVER, you MUST take time for relaxation, for play, for family.  YOU MUST! 

With the holidays coming up, plan your time carefully.  Sure, you may have to work right up to 8:00 PM the evening before Thanksgiving, but then be sure to take a whole day off to enjoy friends and family.  Same with Christmas or whatever you celebrate in December. 

The bottom line:  Give yourself permission to enjoy the holidays this year.

So, work hard, make money, have fun … and be sure to take some time for the most important things this holiday season.  — JRI

If you own a local business in a small town (or if you’re a small biz in a big city competing with WalMart, etc.), you have to give locals a reason to buy local. 

Example:  When I lived on the island of St. Maarten, there were two prices:  One was the list price … and that was for tourists.  The other was the island price. When I’d walk into a store, I’d mention the magic words, “I live here,” and would get a discount.  It was as simple as that. 

My point, and perhaps I did not make myself clear earlier:  If you want to promote the buy-local concept, you’d damn well better give locals a reason to do business at your business.  And the best way to do that is through the local discount.  No coupons.  No magic cards.  Just a “Hey, how are you?” and a discount on the price.  It don’t get no easier or simpler than that!

 Remember, it’s a two-way street.  Want local loyalty? Give local loyalty.  It is a two-way street!

So, work hard.  Make money, and give your locals a reason to buy from you rather than bitching that they won’t!  –   John R. Ingrisano, The Freestyle Entrepreneur