My Notes on “SPIN Selling” by Neil Rackham:
The difference between small and large sales
- Define Small Sale: Is a sale which can normally be completed in a single call and which involves a low dollar value.
- In selling consumer goods product knowledge makes all the difference. But in large sales it can prevent success because the customer won’t see enough value to justify so large a decision.
- Customer hesitation when deciding about a large sales isn’t so much about the product as entering a relationship. You will have to work with the seller over a period of some months rather than just buy the item and walk out the door.
- In small sales the customer can afford to take more risks because the consequences of mistakes are relatively small.
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My Notes on “The Ultimate Sales Machine” by Chet Holmes:
- You can profoundly improve your company if you absolutely commit one hour a week in which you do nothing else than work on making the business much more effective.
- We all get good ideas t seminars and from books and business-building gurus. The problem is that most companies do not know how to identify and adapt the best ideas to their businesses. Implementation, not ideas, is the key to real success.
- To do’s, tasks, and deadlines must be assigned after every meeting. But the key is not to ask for too much to be completed. Make the gains small but constant. If you are having the meeting every week and you are making small incremental gains each and every week, think of the profound transformation you’re going to have in 52 weeks.
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My Notes on “The 80/20 Principle: The Secret of Achieving More With Less” by Richard Koch:
- Conventional wisdom is not to put all your eggs in one basket. 80/20 wisdom is to choose a basket carefully, load all your eggs into it, and then watch it like a hawk.
- Celebrate exceptional productivity, rather than raise average efforts
- Look for the short cut, rather than run the full course
- Be selective, not exhaustive
- Strive for excellence in few things, rather than good performance in many
- Delegate or outsource as much as possible in our daily lives and be encouraged rather than penalised by tax systems to do this (use specialists to the maximum instead of doing the work ourselves)
- Only do the thing we are best at doing and enjoy most
- In every important sphere, work out where 20% of effort can lead to 80% of returns
- Creative systems operate away from equilibrium. Cause and effect, input and output, operate in a non-linear way. You do not usually get back what you put in; you may sometimes get very much less and sometimes get very mush more.
- If you can identify where your firm is getting back more than it is putting in, you can up the stakes and make a killing. Similarly, if you can work out where your firm is getting back much less than it is investing, you can cut your losses.
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My Notes on “The 4-Hour Work Week” by Tim Ferris:
Different is better when it is more effective or more fun. If everyone is defining a problem or solving it one way and the results are sub-par, this is the time to ask, What if I did the opposite. Don’t follow a model that doesn’t work.
Most cold calls don’t get to the intended person for one reason: gatekeepers. Make all your calls from 8-8.30am and 6-6.30pm for a total of one hour to avoid secretaries and book twice as many meetings as senior sales executives who call from 9-5. Twice the results in 1/8 of the time.
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My Notes on “The E-Myth Revisited” by Michael E. Gerber:
In a business that depends on you, on your style, on your personality, on your presence, on your talent and willingness to do the work, if you’re not there customers would go someplace else.
In this case, customers aren’t buying your businesses ability to give them what they want, but your ability to give them what they want.
If your business depends on your, you don’t own a business – you have a job. And that’s not the purpose of going into business. The purpose of business is to get free of a job so you can create jobs for other people, to expand beyond your existing horizons, to satisfy a need in the marketplace
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