Manhasset Minuteman Press

What's the ultimate competitive advantage in business and in life? It's your ability to learn and (just as importantly) to quickly put what you have learned into action. "Formal education will make you a living; self-education will make you a fortune." -Jim Rohn The first key is to understand that education is a lifelong process. Formal education may be finite and time-based, but self-education is ongoing and perpetual. "Hard work spotlights the character of people; some turn up their sleeves, some turn up their noses, and some don't turn up at all." -Sam Ewing The second key is to become a voracious student in your field. Mastering your field requires an investment of time in study and continual practice toward perfection. All the masters and top earners in any field have this attitude toward learning. Having this attitude allows you to thrive in situations where your knowledge gives you the competitive advantage over your competitors. Y

In business, the term "gatekeeper" refers to the person who has the authority to control access to the decision maker in the company. The gatekeeper guards and monitors traffic to the person in charge. In most companies, getting an appointment with the decision maker requires getting past the gatekeeper. Selling to the decision maker requires learning the art and skill of gracefully getting past the gatekeeper. Here are five keys to help you get started: Key #1: Speak with authority. Whether you're the CEO of your company or not, you need to speak with confidence. You want to be perceived as a person of authority making the call. Speak with authority, assurance, and self-confidence. Gatekeepers are trained to keep salespeople out but are much more likely to let an authority figure through. Key #2: The gatekeeper is your friend. The gatekeeper can be your ally if you treat them with the utmost respect and courtesy. Remember that they have a job to do and th

You may have the greatest service or product in the world, but if you can't sell it, how much good will that do? The good news is that small improvements in your selling can have exponential effects on your bottom line. Focusing on the factors that can increase your selling efficiency or selling effectiveness will have a far greater impact than changing prices or reducing overhead. The path to selling efficiency and effectiveness starts with proper planning. Begin by focusing on the factors you have the most control over: The quality of your prospects The quality of your sales pitch The cost of the sales process itself How you use your time Your sales process The quality of your prospects depends on how well you qualify them. This is one of the most important factors in improving your selling effectiveness. You have complete control over this part of your process. Begin by asking if the prospect truly is a good fit for what you sell. When determining the qualit

Optimism is not a trait born necessarily out of good fortune. Edgar Guest was 11 years old in 1893 when his father lost his job. Barely a year earlier, the family had emigrated from Birmingham, England, to Detroit, Michigan. Now, young Edgar had to take on odd jobs in a still unfamiliar land to help support the family. In 1895, at age 14, he went to work as a copy boy for the Detroit Free Press . This would prove the beginning of a career that would span more than six decades. At first, Edgar was able to attend school while working. However, in 1898, when Edgar was 17, his father died. Edgar dropped out of high school and began working full-time to support the family. Later that year, his first poem was published in the paper. Over the next half century, Edgar Guest would become one of the most prolific writers of his time, publishing more than 11,000 poems, syndicated in more than 300 newspapers and compiled into 20+ volumes. He also hosted a popular radio show in Detroit

Achieving profit is the real goal of being in business. Profits are what allows a business to invest and grow. Some businesses have higher profit margins than others. That can be due to the type of industry, the competitive landscape, and economic conditions. There's often a direct correlation between the margins a business can charge and the amount of pain their products and services help to ease in the minds of the customers who buy them. Increasing this real and perceived value will directly impact profit margins. Most businesses have a mixture of customers. To become a high-margin business, your goal must be to move the needle from lower-value customers to higher-value ones. The first step is to identify the types of customers your business attracts and pursues. Here are a few general characteristics to consider. Low-Value Clients: A large number are required in order to sustain profitability Typically cause the most headaches Want you to lower your prices Mak

There's a story told of a middle-aged man and a teenage boy who checked into a hotel together while traveling. The staff noticed that both seemed quiet and somber and that the boy appeared pale. That evening, the two had dinner at the hotel restaurant. Again, they seemed unusually quiet, and the boy barely touched his food, before excusing himself and returning to his room. After finishing his meal, the man asked to see the hotel manager in private. Concerned that he was dissatisfied with the service he had received, the manager obliged his request. Once alone, the man explained that he was spending the night with his son, who was set to begin chemotherapy treatments at a nearby hospital the next day. Instead of waiting for his hair to fall out on its own, the son planned to shave his head that night, and the father was doing the same. He wanted the staff to be aware of their situation, so they wouldn't be alarmed when the two showed up for breakfast with clean-shaven h

Strategic planning and thinking are critical to success in business -- and in sales. Strategic thought focuses on the big picture. It looks at building sustainable, long-term relationships with clients who can benefit from what you have to provide. Tactical thinking, however, focuses on the here and now. It cares only for making the quick sale and staying afloat. Without a strategy behind it, tactical thinking can often lead to reactionary planning that provides little or no long-term viability. If you find yourself in any of these positions, you may be too tactical: Prospects are taking too long to make a decision and stringing you along to get lower pricing. You're unclear on exactly who you are selling to. Your sales efforts are not focused on a specific product or service you should be selling. You're selling almost exclusively to the type of customers who buy one-time projects. You're selling to the type of customers who will switch to lower-priced competit

One of the goals of every business owner should be to build a company that is worth selling. Whether it is actually put on the market or not is another matter. A business that is worth selling is growing, vibrant, and healthy. That's why it's in the best interest of everyone involved in the company to continually work toward building a sellable business. Many metrics are used to measure the worth of a sellable business. One of the key metrics is the ability of the business to generate recurring revenue. There are several ways to achieve a consistent, recurring revenue stream. Not all will work for every type of business, product, or service. Here are a few ideas to consider, depending on the types of services and products you provide. Long-Term Sales Contracts One method of building recurring revenue is to offer contracts that tie a client to a long-term engagement. A customer could be enticed to sign a contract if they are offered preferred pricing and serv