What Does it Take to be a Successful Entrepreneur?

Many books and articles are written by and about successful entrepreneurs, with great information about what it takes to succeed. If it were possible to distill all of that information into a few words, it might be this: Being a successful entrepreneur really just boils down to solving problems and being resilient enough to find answer without giving up.

As Thomas Edison famously said: "If I find 10,000 ways something won't work, I haven't failed. I am not discouraged, because every wrong attempt discarded is often a step forward." Hopefully, you won't need 10,000 attempts to find the solution you're looking for, but many people give up after only a few tries.

Whether you own a new company, have been in business awhile, or are an employee with the desire to become successful, the next time you run into a problem, take the initiative to find a solution. Be persistent, and don't give up at the first sign of resistance. Yes, that is easier said than done. There are many entrepreneurs, but not nearly as many successful ones. Those who succeed are champion problem solvers and have the will to not take no for an answer.

How to
Sell the Difficult Prospect By Peter Ebner

Accepted sales theory states that selling is simply a matter of finding a problem and offering a solution, but what this theory fails to take into account is that selling is an interaction between people and that brings a whole new set of variable to the table. Dealing with people can be a slippery and confusing exercise that often defies all logic. As most of us have already noticed, just because we have the best and the most economical solution to the prospect's printing problem doesn't mean that he will buy from us because your presentation must not only appeal to the prospect's reason, it must also speak to his or her emotions.

Dealing with sensitive egos

While most prospects are willing to recognize your expertise and as such are receptive to your suggestions, some prospects have egos that overshadow this logic. When confronted by a salesperson that is suggesting a new and better ways to run the job these individuals begin to feel incompetent. They feel that the salesperson is telling them that they are wrong or that they've made a mistake; so they take a defensive position. For example, a marketing manager or graphic artist may view your suggestion to use a different stock as a challenge to his or her judgment or a print buyer may feel his position threatened when you show him a better way to run the job.

One of the most effective ways to deal with prospects that have a fragile ego is to satisfy their need for recognition by acknowledging their authority. Conceding to their expertise creates an inconsistency between the prospect's perception and reality; while your acumen makes them feel stupid your acknowledgment makes them feel important. Psychologists call this contradiction cognitive dissonance and the prospect will usually change his or her perspective in order to bring it in line with this reality. For example, it's not unusual for art directors, advertising agencies, print buyers or marketing managers to resist your ideas because they want to show that they are the experts. So here's how to use the Ego Response to stroke their self-image and defuse their opposition.

Mr. Marketing Manager, I certainly understand that you are the expert here; I'll never know as much about marketing as you do. But if I might be so bold, I'd like to share some new ideas that other marketing managers are already using to enhance their marketing collateral and gain market share; just so that you can evaluate them. Would that be okay?

The power of new

Although some prospects have a strong need for recognition others just don't like to change their mind and what they like even less is to have a salesperson change it for them; it makes them feel weak and stupid. Keep in mind that while your presentation may offer valuable solutions that resolve your prospect's printing problems, it is also speaking to his or her ego and your presentation must accommodate it. So when dealing with a strong minded prospect that wants to hold his ground don't try to change his mind, instead provide new information that allows the prospect to make a new decision.

Now here's a word of caution; while your prospects will consider making a new decision in view of new information, they're less likely to be swayed by old news. Old information is something they believe they should have already known, so to avoid appearing uninformed, they'll act as if they've already considered this information and stick to their position. Here are a few examples of what I mean.

Prospect: Digital printing is poor in quality.

Salesperson: Actually, it has really improved over the past few years.

Prospect: Well, I've seen these improvements and the quality is still poor.

Now look at the difference when you use new information to change the prospect's mind.

Prospect: Digital printing is poor in quality.

The Power of New: I can certainly understand why you feel that way; in fact many of my clients felt the same way. They also thought that digital printing was of poor quality until they saw the recent advancements in digital technology. Let me show you what I mean.

Here's another example.

Prospect: I'm not interested. My printer is doing a great job

The Power of New: Mr. Prospect, I understand and I would never ask you to take any business away from your present supplier, but from time to time I stumble across some new ideas that could your enhance your marketing material and help you gain market share. All I'm suggesting is that you evaluate these new ideas and should you decide to implement them, that you consider giving me this new business. In that way you can continue your relationship with your present supplier and take advantage of outside opportunities. Isn't that a good idea?

Creative Coupon Offers

It's an age-old debate. Which is better: percentage off or dollar-off coupons? There is no right or wrong answer, since both options can be very appealing to consumers looking to save money. Here are a few creative offers for your next coupon campaign:

• Offer the best of both worlds with a coupon such as: "$15 off or 15% off, whichever is higher." This will also encourage customers to buy more to save more.


• Consider offering a bonus item to increase the value of your coupon. This will also let you compete with your competition without actually lowering prices.


• Offer incremental percentage-off amounts based on what the customer spends. An example of this would be "save 30% on $150 or more, 20% on $100 or more, or 10% on $10 or more."


• When using a dollar-off coupon, customers respond best to round dollar bill denominations whenever possible, such as $1, $5, $10, or $20 off. Not only are the amounts easy to calculate, but it easily translates to a bill in their pocket.


• Try a BOGO (buy one get one) campaign, such as buy one get one free or buy one get one half price.


• Use easy-to-remember codes like FEB20 rather than KTR10R44YZEX to make it easy to use during online checkouts.

Another great way to increase the value of a coupon campaign is to offer a follow-up survey for customers based on their purchase with your coupon. Offer another coupon as a thank you for completing the survey. Adding a survey will help you gain valuable input about what types of coupon promotions influence your customers.

An Internal Newsletter Your Team Will Love

While newsletters are a great way to build relationships with customers, many companies overlook the team-building opportunity an internal newsletter offers within their own doors, as well. Internal newsletters are a great way not only to learn more about colleagues, but also to keep employees informed about company news, events, and other important announcements. Here are a few tips for creating an internal newsletter your employees will love:

• Create a plan by defining the frequency of your newsletter (such as monthly or quarterly) and the types of articles or sections you'd like to include. Also develop a template you can easily modify for each issue.


• Encourage teamwork by assigning a few people to specific parts of the newsletter each month, such as pulling company stats (sales volume, incoming calls, trade show outcomes, etc.), writing feature articles about company events, and so on.


• Create an idea library. Stockpile various ideas, photos, jokes, quotes, seasonal graphics, etc., to save time down the road.


• Acknowledge employee birthdays, corporate anniversaries, new hires, promotions, etc.


• Consider offering a "message from the president" to make employees the first to know about new products, company changes, initiatives, etc.


• Highlight successes. If a department had an outrageous month, highlight their achievements, and offer a company-wide congratulatory message.


• Share encouraging survey results, customer compliments, and thank you notes from appreciative customers.


• Consider a Q&A section where employees can submit questions and have a leader provide answers in an open forum for all to see.


• Use an "employee spotlight" article to help staff members get to know their colleagues better. This type of article can range from information about the employee's position within your company to their personal hobbies, interests, and the like.

By creating an internal newsletter that encourages team-building and focuses on the successes of your employees, you can not only increase communication amongst your colleagues but also boost employee morale and give your team something fun to talk about around the water cooler.

What other ideas can you think of for an internal newsletter? Share your thoughts in the comments below.

Talent vs. Teamwork

NBA legend Michael Jordan once said, "Talent wins games, but teamwork and intelligence win championships."

This quote is true in all types of organizations. Talent is undoubtedly important, but depending on the type of career, teamwork can be far more valuable to a company's long-term success. A group of the most highly talented individuals who don't work together efficiently are unreliable, waste resources, and often have competing agendas. Without teamwork, talent is wasted.

In comparison, a strong, cohesive team can often make up for weaker talent because they form a strong alliance and are committed to reaching the same goals. Successful teams benefit from a blend of various skills and can-do attitudes. They also share resources, learn from one another, and offer invaluable encouragement and support.

If your organization is struggling to find top-notch talent, try focusing on building a top-notch team instead. The winning results may surprise you.

The Challenges of Marketing an Intangible

Marketing a product that customers can see, touch, and try before they buy is challenging enough. So how can you market something customers can't see or feel? How do you turn an intangible idea into something that will connect with people in a hands-on, real-world way? That is often the challenge involved with marketing a service. Here are five tips to help you get started:

• Focus on answering the question, "What's in it for me?" Feature lists are all well and good, but for most people the bottom line (THEIR bottom line) is what really matters. If you can show a prospect how your service will benefit them (by saving time, reducing costs, providing security, or eliminating frustration, worry, or doubt), that will go far in convincing them to give you a try.


• Make it real. Just telling someone how much your service will benefit them isn't always enough. Back up your claims with tangible, real-world proof. Use testimonials, case studies, and verified statistics whenever you can to help bolster your case. Few things sell confidence better than a success story from a satisfied customer. A testimonial or case study outlining the positive results your service has provided will go a long way toward putting a prospect's mind at ease about doing business with your firm.


• Create a strong, positive identity. While your service may be intangible, the words and imagery you use to represent your brand can help you make a positive impression in prospective buyers' minds. Consider Prudential's Rock of Gibraltar logo or Allstate's "good hands." Each conveys a message of security and dependability -- traits important when you're talking about insurance and investing. Try to create a similar feel with the images and words you use to promote your company.


• Avoid the temptation to under-price your services. Under-pricing undermines profitability and sends the message that you don't value your own services as highly as your competitors value theirs. Customers will see this as a sign that your service is inferior in quality or that you lack the experience necessary to help them. If you're uncomfortable pricing your service competitively, consider a tiered approach, where customers can pay higher premiums for added benefits.


• Treat yourself -- and your company -- as the product. In many ways, you are. When customers buy a service, they're really buying into a company and its people. They're trusting your knowledge, your skill, your experience, and your integrity to do right by them. Keep that in mind. Use every interaction as an opportunity to reinforce, renew, and reward that trust...and encourage your staff to do the same.

10 Simple Ways Make it Easier for Customers to Contact You

A toll-free number is no longer the standard way for customers to contact you. Customers are bombarded with choices in today's technology-focused world. If your business doesn't offer a method of communication that suits your customers' preferences, they may find another company that does.

Here are 10 tips to make it easy for ALL of your customers to get (and stay) in touch with you:

• Consider offering a live chat support service option on your website that provides real-time, text-based conversation with someone who can quickly answer questions.


• Use social media tools such as Facebook and Twitter to communicate with customers. Post helpful information in your stream, and encourage customers to ask questions and provide product feedback.


• Provide interactive maps that allow people to customize directions to your location, as well as a photo of your building to make your business easier to find.


• Include any helpful information that may save customers frustration when they try visiting you. For example: "XYZ Road is currently under construction -- please use ABC Street instead."


• Create a Google+ page to share updates, promotions, links, and photos. This will make it easy for people to recommend your business, products, or services to friends and contacts, while at the same time helping you measure your followers' interactions.


• When posting blogs, be sure to offer an area for comments and feedback, as well as contact information, in case the reader has questions.


• Build trust with online customers by providing your company's physical address in addition to email, phone, fax, Skype, and support line info on your website's contact page. Add links to customer forums, your Facebook page, and your Twitter feed, as well, and consider offering a contact form as a convenience for customers.


• Include, at minimum, your website info, company email, and toll-free phone number on every marketing piece you create, including letterhead, notepads, brochures, flyers, quotes, surveys, etc. Customers who desire additional information will often seek out your website's contact page.


• Consider a mobile website designed for smart phones that makes it easy for users to find information about you, regardless of what device they are using.


• Provide a clear call to action in direct mail, email messages, and other marketing pieces so readers know how to get in touch with you.

We encourage you to contact us anytime if you have questions or comments. We look forward to hearing from you!