Posts Tagged ‘Value’
Is Cold Calling Contrary to Being a Go-Giver?
A reader recently emailed me the following: “Hi Bob, I love being in sales and want to make a difference. The company I just started working for is very focused on cold calling, and closing on the first appointment, which seems contrary to the approach in your and John’s book? I love this company but how…
Read MoreWhen Did Profit Become a Bad Word for Entrepreneurs?
As a startup advisor and investor, I find that more and more entrepreneurs avoid using the term “profit” in pitching their new venture. They seem to feel it conveys a message of personal enrichment at the expense of others. My view is that the purpose of every business is to make a profit, as fuel…
Read MoreCan Sales Really Create Value?
Leanne Hoagland-Smith wrote an outstanding post, The Ultimate Sales Goal Is Connecting With Customer Value Drivers, Not Creating Value! In the post, Leanne hits head on what too many sales people miss about value. We tend to think of value and value proposition in our terms. Instead, it’s the customer that defines value! For us to…
Read MoreLooking for Investment? Understand Startup Valuation
How much equity do I have to give to angel investors? If you’re a startup founder looking for angel investment, you need to understand valuation. It’s a buzzword that people use in other contexts, too, which adds to the confusion. But it’s ultimately what determines how much of your company your investors will get, and…
Read MoreWhat is the Barbell Effect and How Does It Work?
Do you work out with free weights? If you do, where do you grab the barbells? In the middle, right? In business, as in barbells, it’s the middle that gets squeezed and this has given rise to the phenomenon known as “the barbell effect.” The idea is that businesses on either extreme in a given…
Read MorePricing Strategy Guide for Product Businesses
It’s obvious that the price of your products have a lot to do with the profitability of your business. Exactly how to price products in a way that maintains or increases your profitability is a little less obvious. Here are the first two steps toward developing an effective pricing strategy for your small business. Do…
Read More9 Rules of Investing for Entrepreneurs
As an entrepreneur, your personal finances can oftentimes affect your ability to invest and grow your venture, especially if new growth opportunities are capital intensive. Similarly, if you’ve recently sold your business or startup for a sizable amount and decide you want to invest the proceeds, it is critical that you follow certain basic investment…
Read MoreDoes Your View of Value Limit You and Your Customers?
Value is one of those $25 words everyone talks about. We all want to talk about our value and value propositions. But we have huge variations in the way we interpret value and the way our customers interpret value. Value in its simplest form is price. Unfortunately, that’s where the majority of sales people compete.…
Read More10 Steps to a Successful Pricing Strategy
During the price strategy planning processes, companies assess past strategies, analyze how well each did, and plan prices for the upcoming year, eagerly anticipating a significant impact on the bottom line. After all, a 1% increase in price can result in an 11% increase in profit. However, many things can go wrong: customers can reject…
Read MoreCustomer Stuck? Not Moving Forward?
It’s a common lament among sales people: “I’m trying to close the customer, I can’t get them to move forward! They’re dragging their feet, they just won’t order!” Last week, with several clients, I was doing pipeline reviews. Too many sales people were saying this, slipping their forecasts, slipping their target close dates another month (one becomes…
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