Home Wealth Project
Extensive Research On How To Build Wealth From The Comfort Of Your Own Home.
Extensive Research On How To Build Wealth From The Comfort Of Your Own Home.
Sep 20th
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Mashable and 92Y present a Summit of the most inspirational, promising and effective ways in which new media can help address… |
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Aug 29th
| History buff and music journalist turned social media enthusiast, Yvonne Bell is the new Search and Social Media blogger for SEJ. |
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Aug 19th
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Any ideas why? Ben R commented on the review “great episode” obviously not a vampire, he didn’t sparkle. Grant Dykstra started a… |
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Aug 4th
Small business owners have had reasons to feel positive, including steadily rising retail sales since last fall. But now, that confidence is starting to evaporate. June retail sales were down, the National Retail Federation reported. And business owners appear to be getting nervous.
The most recent Discover Small Business Watch study shows 75 percent of business owners now think the economy will head back down again before recovery finally arrives. More than half of owners think the economy is still getting worse.
Business owners confidence fell in July for the second straight month in the Discover study, which tracks small businesses with fewer than five employees. On the up side, though, more business owners said they plan to increase spending on business development, and cash-flow issues eased a bit. Nearly half of owners — 49 percent — reported their business didn’t have any short-term cash-flow issues in July, and weren’t putting off paying their bills. That was up from 45 percent in June.
Entrepreneurs expressed a growing lack of confidence in the ability of President Barack Obama and Congress to dig the country out of the economic mess. Sixty percent of business owners either disapprove or strongly disapprove of federal moves on the economy, up from 52 percent last year.
At the root of the gloom: Business owner are making less money. In July, 73 percent of small business owners reported current economic conditions have translated into less take-home pay for them — that’s up from 69 percent in July last year.
The Discover study also adds more evidence for the notion that Congress’s new $30 billion small-business loan fund, which I wrote about yesterday, might help. Only three percent of business owners said they applied for stimulus-funded loans in the past year.
Business owners may be on to something. One reliable predictor of recession with a 40-year, perfect track record — the Economic Cycle Research Institute’s Weekly Leading Index has hit a low that always previously presaged a recession. These are the folks who bring us trend information on the leading economic indicators. This is just not good.
I’ll leave you with one positive recent piece of news to try and take the gloom off — Alliance Data Systems, which runs credit-card programs for over 90 major retailers, reported the companies wrote off less bad debt in June. Uncollectible card charge-offs were 8.8 percent of balances, down from 9.1 percent writeoffs in May.
How are you feeling about the economy? Think we’re just glimpsing the sunlight before plunging back into darkness, or is that glimmer the light at the end of the tunnel? Leave us a comment and let us know.
View full post on Entrepreneur.com – Daily Dose
Aug 3rd
| VHS was all the rave by 1975 the JVC VHS hit the markets. It ground the Sony Beta (a competing videocassette format) into dust, and VHS dominated… |
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Jul 29th
| Interested in more social media news and discussion? Join TNW Social Media on Facebook and Twitter, or grab our RSS feed Based… |
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Jul 12th
| In a step towards opening the… mining leases to sell excess coal in the open market to meet the increasing coal demand for power generation. |
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Jul 10th
Selling to Zebras: How to Close 90% of the Business You Pursue Faster, More Easily, and More Profitably, by Jeff and Chad Koser (Greenleaf Book Group Press, 2009), came highly recommended, and I was sent a review copy by the authors’ Vice President of Marketing, Christine Ullman.
The book arrived in a box wrapped in funky zebra wrapping paper, with a personal note from Chris. As someone who does P.R. for a living, and who has reviewed many books, this really stood out. Give this woman a bonus!
Anyway, I eagerly started reading this book, and found some terrific nuggets. Then I started reading more and thought it was really targeted at larger companies than mine, so I put it aside.
As luck would have it, I had a business issue to deal with, and a solution within Selling to Zebras rang a bell. So I decided to pick it up again. Here’s what I learned:
1) Second chances are important, (in books and in life – including a somewhat exaggerated but mostly true story of how I hated my husband when I first met him.)
2) There’s some really good stuff in this book that I can use right now to help me with my challenge.
On to my business challenge and how I solved it. . .
First, you’ll need to understand what a Zebra is, in the context of this book.
A Zebra, according to the authors, is the prospect that is perfect for your company – and not just from a product or solution perspective. It is a prospect that you know you can win based on identifiable, objective characteristics – and Zebras are the only prospects a salesperson should pursue.
Why did the authors choose a Zebra to symbolize the perfect prospect? The authors say it’s because a Zebra’s stripes tell you exactly what kind of animal you’re looking at – you can’t mistake a Zebra for any other animal, so you know for sure when you have one.
In the book the idea of a company’s Zebra is explained in story form. The head of a sales team is in danger of losing his job (and possibly the jobs of his salespeople) due to dismal sales. By learning about the Zebra process, he is able to turn things around.
One of the most compelling aspects of the book is the creation of the Push-Button Zebra, a spreadsheet you can use to identify the worthiness of your prospects.
The book gives examples of the different attributes that can be considered for your own Push-Button Zebra spreadsheet. In the book you are also given access to a free template to create your own Push-Button Zebra.
My Push-Button Zebra
Now I can explain my business challenge.
I was recently contacted by a prospect to do P.R. He had a great product that I was interested in representing, but he was getting proposals from several P.R. companies, and I had an uneasy feeling about this. I needed to make a decision about whether or not I was going to do a proposal for this company.
Then I remembered a similar situation in the book, where the head of sales was given a “prospect” by his boss, and based on the Push-Button Zebra, the head of sales realized this was not a good prospect, and didn’t want to waste anyone’s time putting a proposal together.
Since I hate doing proposals, I didn’t want to do one unless I absolutely had to. So instead I decided to use the more objective Push-Button Zebra process to aid in this decision.
I spent some time determine the aspects of my best Zebras. Here were the attributes I included in my spreadsheet:
1) Price as a Deciding Factor – ranging from “price is the only criteria”, to “seeing the value of my company”
2) How Did They Found Me? – ranging from an “Internet search” to a “personal referral”
3) Access to Decision-Maker – ranging from “no contact”, to “Decision Maker is primary contact”
4) Funding – ranging from “uncertain” to “budget criteria established”
5) ROI – ranging from “not quantifiable” to “proven ROI with similar clients”
6) Previous P.R. experience – ranging from “never used a P.R. firm” to “used a P.R. firm and value the benefits of P.R.”
7) Time-Frame – ranging from “wants immediate results” to “interested in a long-term business relationship”
There are seven attributes with a maximum score of four, so the highest score that can be achieved is a 28. Zebras are in the 20-28 range. My prospect scored a 12, which was close to a high risk prospect. Based on this decision, and my gut, I decided not to pursue the prospect.
Finding Your Stripes
I’ll be using this spreadsheet to determine whether or not to move forward with other prospects, and I urge any of you who are responsible for sales, to do the same.
Find Your Zebra: Watch Your Sales Skyrocket
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Jul 5th
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With so many new social media sites, services and practices, it’s often helpful to zoom out a bit and keep an eye on upcoming trends on the cusp or… |
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Jun 30th
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Thousands have joined Mashable to celebrate Social Media Day on June 30. Because we have people celebrating from all around the world (90+ countries),… |
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