My Pet!

A Business Plan is the essential document we are all meant to have - right? So why do so many of us not have one?

The principle behind having a business plan is to think strategically about how to grow our business, create new direction and organise our thoughts:

What am I going to do?
Why?
When does it all have to happen?
What resources will I need?
What could get in the way of success?
How can I minimise the chances of that happening?

The principal challenge with traditional business plans lies not in the subject matter or the content, but in their format.

The majority of business plans are static documents, comprised of lists and columns with actions and dates. There is a proportion of the population that like to manage their work in this way - and they thrive on using the traditional business plan format. But the reality is that most entrepreneurs are entrepreneurial (funny that!) - and most entrepreneurs hate using lists! Lists don’t really reflect our way of thinking, creating or managing information.

We need a process that reflects the flexible and dynamic way we approach business. It is this ability that sets us apart from our larger, slower competitors.

The Project Management Approach

The project management based approach to business planning represents information in a much more flexible way, using mind maps or dynamic lists. Essentially your thinking is represented in small and large chunks, and grouped by area or ‘project’.

Let me demonstrate with a genuine example. My whiteboard contains all of my current and planned activities split into 3 areas - this week, medium term and long term.

My overall aims and goals for the business are listed on the right side. These don’t change much - but they are always there in front of me to keep me focused on what is important. The middle of the board contains my longer term projects (3 months or more ), such as developing alliances and approaching magazines to write for articles. The left side contains the major activities to complete this week.

Every Monday I think about what activity needs to happen to progress my medium and long term goals. These go in the weekly side of the board. I also include any other things that need to happen during the week, refreshing each list as I need to. During the week - if new things come up - they go straight up into the appropriate area.

You can use mind maps in a similar way. Put your long term goals in the centre, your medium term goals along each arm, and the detailed activity as the final level. Then cross things off or add new ‘arms’ as things arise. You can group your activities by topic, immediacy or any other way that suits you.

The key difference with this method of managing your work is that

a) It’s always in front of you, not locked up in a drawer,
b) it’s easy to add and subtract from the plan as you go, and
c) it’s actually practical and fun to work with

You still need to think strategically, and be organised about your work. But you don’t need to feel guilty about not having a “traditional business plan!

If you’re not a ‘list’ person, give this method a try. I think you’ll get a lot more out of it.

Megan Tough is director of complete potential, a leadership and HR consultancy based in Sydney, Australia.

At complete potential we understand people - what engages them, what encourages them to perform, and what drives them away. With over 20 years experience working on HR issues in business, our job is to help you make the most of your investment in people. To learn more visit http://www.completepotential.com

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Salespeople tend to think of their competition only as organizations that sell the same products or services as they do. In this week’s sales tip, I would like you to see this issue from another perspective.

To illustrate my point, let me give you an example.

Let’s say that you sell wigits. Your prospect can use more or better wigits.

On Monday, you present the features and benefits of your wigits to a new prospect. The prospect tells you they will consider purchasing them from you, but they need some time to consider your proposal.

On Tuesday, another salesperson who sells a totally unrelated product, gives your prospect a presentation on the advantages of a new communication network system for their organization. No competition, right? Wrong! Although both of you are selling a completely different product, you are both trying to get a share of the prospect’s available dollars that they have to spend this year on a variety of products and services. The prospect calls you back on Friday saying he has decided to purchase the communication program and can’t order your wigits until next year. Lost sale. A direct competitor? NO. You both were trying to some of the available financial resources of this prospect. He wanted and needed both your wigits and the communication program, but couldn’t afford both now. An indirect competitor? YES.

Apparently the communication salesperson did a better job of convincing the prospect that the purchase of the communication system was more important than buying your wigits. He might not even have known the prospect was considering buying wigits, and you might not have known he was considering buying the communication system.

Therefore, to sell successfully, you need to be better than every other salesperson who is trying to get some of your prospect’s available cash - even though you don’t know who they are or what they are trying to sell. Tough job? Not really. All you have to do is have better sales skills.

So, who are your competitors? Let go of the attitude that they are only companies who sell exactly what you sell.

Tim Connor, CSP is an internationally renowned sales, relationship, management and leadership speaker, trainer and best selling author. Since 1981 he has given over 3500 presentations in 21 countries on a variety of sales, management and relationship topics. He is the best selling author of over 60 books including; Soft Sell, That’s Life, Peace Of Mind and The Male Gift Giving Survival Guide. He can be reached at tim@timconnor.com, 704-895-1230 or visit his website at http://www.timconnor.com

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True competence is an accurate reputation that is based on your intelligence, your expertise and your knowledge. People create perceived confidence in themselves by using certain tactics, like dressing in the appropriate uniform: a white lab coat or a suit and tie.

Perceived competence is tricky. Hence, you have to be careful in how you explain your competence. If you launch into a laundry list of your accomplishments or of your education and titles, you might be perceived as a braggart. Take advantage of less direct or less self-proclaiming ways to show your prospects your competence. For example, you can hang your degrees on the wall, have someone else give a brief bio in her/his book’s introduction or have someone else offer her/his recommendation.

We consider others to be competent when we see them continually learning and advancing their training and education, being successful in what they do or having a strong track record with all the people they have worked with. Ultimately, genuine competency comes down to “either you know it or you don’t.” Can you deliver what people are looking for? The dictionary definition of competence is “the quality of being adequately or well qualified physically and intellectually.” Competence is being qualified to teach about, to persuade on or to perform in regards to your particular topic.

In influential situations, people will watch and judge you to see if you pass as competent. Two studies clearly illustrate this point. In the first study, a group of elementary school children watched a video of two boys taking a math test. The teacher walked between the boys and looked at each of their papers. To one boy she said nothing while to the other boy she said, “Don’t forget to carry your tens.” The children observing the videotape were told that the boys scored the same on the test. They were then asked whom they wanted as a future math partner. Most of the children chose the boy who did not receive any help from the teacher. Clearly, the simple need for assistance influences how others perceive your competence.

The second study showed that competence can increase sales. An experimenter in a mall approached unsuspecting patrons and asked them to buy raffle tickets. In the first situation, the experimenter dazzled the shoppers with his incredible calculating ability when in actuality he was using a concealed communication device. In the next situation, the experimenter showed poor calculating skills and made a fool of himself. In the third and final situation, the experimenter did not have any incredible skills. The study found that the shoppers bought considerably more raffle tickets from the supposed calculating genius. In other words, the situation in which the experimenter showed extreme competence increased sales.

Everyone persuades for a living. There’s no way around it. Whether you’re a sales professional, an entrepreneur, or even a stay at home parent, if you are unable to convince others to your way of thinking, you will be constantly left behind. Get your free reports at Magnetic Persuasion to make sure that you are not left watching others pass you on the road to success. Donald Trump said it best, “Study the art of persuasion. Practice it. Develop an understanding of its profound value across all aspects of life.”

Conclusion

Persuasion is the missing puzzle piece that will crack the code to dramatically increase your income, improve your relationships, and help you get what you want, when you want, and win friends for life. Ask yourself how much money and income you have lost because of your inability to persuade and influence. Think about it. Sure you’ve seen some success, but think of the times you couldn’t get it done. Has there ever been a time when you did not get your point across? Were you unable to convince someone to do something? Have you reached your full potential? Are you able to motivate yourself and others to achieve more and accomplish their goals? What about your relationships? Imagine being able to overcome objections before they happen, know what your prospect is thinking and feeling, feel more confident in your ability to persuade. Professional success, personal happiness, leadership potential, and income depend on the ability to persuade, influence, and motivate others.

Kurt Mortensen’s trademark is Magnetic Persuasion; rather than convincing others, he teaches that you should attract them, just like a magnet attracts metal filings. He teaches that sales have changed and the consumer has become exponentially more skeptical and cynical within the last five years. Most persuaders are using only 2 or 3 persuasion techniques when there are actually 120 available! His message and program has helped thousands and will help you achieve unprecedented success in both your business and personal life.

If you are ready to claim your success and learn what only the ultra-prosperous know, begin by going to http://www.PreWealth.com and getting my free report “10 Mistakes That Continue Costing You Thousands.” After reading my free report, go to http://www.PreWealth.com/IQ and take the free Persuasion IQ analysis to determine where you rank and what area of the sales cycle you need to improve in order to close every sale!

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