Lost Your Midas Touch? 4 Things You Can Do to Get it Back in Time to Enjoy Your Holidays!

Note from Yoon:

If your business is down it’s tough not to let it weigh you down. It can be even tougher to enjoy the upcoming holidays if you’re stressed out about the struggles in your business. To help you get your midas touch back I wanted to introduce my friend Nancy Sharp. Nancy is the Life Balance Expert for accomplished professionals, executives and entrepreneurs who want more work-life-family balance and a blueprint to realize the life they dream about. She’s share some useful tips on how you can get your midas touch back as an entrepreneur. Enjoy today’s guest blog article!

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Lost Your Midas Touch? 4 Things You Can Do to Get it Back in Time to Enjoy Your Holidays!

Guest Author: Nancy F. Sharp, LMFT, Cht, LFYP-1

Do you remember the movie Groundhog Day (1993) with Bill Murray? Murray plays Phil Connors, an arrogant and egocentric Pittsburgh TV weatherman who, during a hated assignment covering the annual Ground Hog Day event in Punxsutawny, finds himself in a time loop, repeating the same day again and again. After indulging in some pretty serious wrong solution cycle responses, he begins to re-examine his life and priorities (description from Wikipedia).

The tips you’ll find in this article will assist you in changing the way you respond to situations and decision making and will aid in your growth toward positive outcomes, and experiencing a happier, healthier life and work balance.

Sometimes we think we have our best responses to situations all lined up and ready to go…but sometimes the way we think we could respond is really not as effective as we might hope…leaving us with a result we wish we did not have to deal with… and we find life bursting into high pressure.

And so this is seen in 5 important areas of our lives:

Financially- glass income ceiling, stop trying, overspending

Professionally-lack of focus, ambition, not feeling as enthusiastic, performance

Physically-stress, anxiety, headaches, HBP, chronic pain or fatigue, food cravings

Emotionally-worry, resentful, sad, anxious

Relationally- when not feeling on top of your game you may isolate because you do not have enough energy to connect and it is not fun to be or be with a Debbie or Doug Downer.

One of my recent blog posts considered that if you crave maximum growth development there are 4 obstacles that demand one’s attention and breakthrough. These are obstacles that just about everyone has by nature, and it requires conscious decisiveness and effort to get rid of.

1. Unwilling to assume full responsibility. Each year, your growth is up to you and you solely. For certain, you have resources and ought to get assistance in achieving your goals, but ultimately YOU will reap the crop that YOU plant. Growth cannot come about until you take charge to make it happen.

2. Reluctant to take crucial action. All the knowledge in the world is unhelpful until it is put into action. Once you have determined to improve your life, make a plan and get going. Growth cannot come about until you embark on moving toward your unique growth path.

3. Reluctant to appear foolish. The quest for anything worthwhile will unquestionably demand you to take some chances. You’ll need to go beyond your comfort zone and in that growth period; you’ll falter, fall or look foolish at least one time- it’s almost guaranteed. The earlier you break free from worrying about appearances, the sooner growth can start.

4. Starting out with incorrect principles. Many of the things that we’ve come to believe about success, wellness and fortune merely are not true. A few have never been true, and some used to be true but they aren’t any longer.

These obstacles must be overcome if you want to respond differently and grow and the good news is that you definitely can overcome them. I could dish out dozens of examples of each category, and if you want to analyze some of yours, please schedule a no-obligation discovery session with me by clicking here.

The root of why we respond the way we do is extremely important to understand. That usually requires some shoring up of our “bedrock”. It provides us with the ability to change or update our response patterns so we can finally change our story…

I welcome you to take action now. Hesitant: Read #2 above again. For now, responding differently and growth cannot occur until you have an accurate plan of action. Click Here.

YOUR GOAL:

To live a life better than the status quo and notice the benefits financially (a feeling of greater security and control of your money), professionally (greater focus, ambition), physically (a greater sense of well-being), emotionally (feeling lighter, greater contentment, happiness, peaceful), and relationally (experiencing positive connection).

It really can be yours. So here’s a gift from me to get you started https://nancyfsharp.leadpages.net/mp3/

Nancy-SharpAuthor Bio: Nancy F. Sharp, LMFT, Cht, LFYP-1 is the Life Balance Expert for accomplished professionals, executives and entrepreneurs who want more work-life-family balance and a blueprint to realize the life they dream about. As a Licensed Psychotherapist, Certified Clinical Hypnotherapist, Yoga Therapist and Mastering the Energy of Money Coach she has built a thriving private clinical practice. Her ability to focus and organize her life has contributed to her success both personally and professionally. Read More

 

About Yoon Cannon: Top business coach Yoon Cannon has helped thousands of small business owners, entrepreneurs, coaches, consultants and sales teams achieve dramatic results in growing your business. Over the past 20 years Yoon has started 4 successful companies and sold 3 of them. She offers fresh insights as a seasoned business growth expert. Yoon delivers proven process for your sales, marketing and management development.  Grab free valuable gifts and resources at https://www.ParamountBusinessCoach.com  To book Yoon to speak at your next event email: YoonCannon@ParamountBusinessCoach.com To schedule a complimentary business coaching consultation call (215) 292-4947. 

 

© Copyright 2016

 

Overcoming the ‘Not Now’ Objection for High Ticket Items

Sales Coaching Tip – Overcoming the
‘Not Now’ Objection for High Ticket Items!

There are hundreds of sales coaching tips out there that offer clever but canned responses you can use for your prospects’ objections. I want to provide you something even better than that. I want to show you how you can set yourself up in order to have easy sales conversations without being “salesy”, so you can enroll new clients effortlessly.

One of the greatest sales skills you can have is listening. If you listen to your prospects long enough, they’ll tell you how to sell them. I refer to “selling them” not in a manipulative sense. “Selling” to me is about speaking in their language based on the way your prospect makes decisions.

Here are 3 effective sales coaching tips to help you overcome the “not now” objection, especially for the high-ticket items.

Sales Coaching Tip #1: Answer the “not now” objection BEFORE it comes up.

The best sales strategy to shorten your sales cycle is not to fire back with a stale, overused and gimmicky reply after the objection, but to eliminate the objection from occurring in the first place.

You may be selling a product or service that you think practically sells itself, but if it’s a high-ticket item you’re bound to be met with some hesitation and delayed decision making. Responses like “I need to think about it” or “I need to talk to so and so and get back to you” requires weeks and even months of added follow up that most people end up losing the discipline and motivation to properly do.

Very often eager entrepreneurs and sales professionals dive into presenting your products, services and pricing too early in the conversation without first properly qualifying the prospect. Here are 3 key qualifying questions you can be sure to ask in your preliminary conversations to establish the value they want to receive now:

  • What is the result you are trying to achieve?
  • What is your “why” for wanting to seek this outcome objective?
  • What if you did nothing about it? What is at stake?

Sales Coaching Tip #2: Identify their level of urgency. Key questions to ask your prospect:

  • Is your company (or are you) seeking formal proposals for this work?
  • How soon are you looking to get started?
  • Are you still analyzing or have you already made a commitment to move forward with the project?
  • How much time and money have you already invested in addressing the problem?

If the answers to the above questions leave you with the conclusion that your prospect has no or little urgency, then you need to focus on creating that urgency for them.

Sales Coaching Tip #3: Find the economic buyer.

  • Do you need anyone else’s approval on this?
  • Who else in involved in making this decision with you?
  • Who is funding this project?
  • Who can immediately approve this project (or purchase decision)?

The reason I ask similar questions several different ways is because I undoubtedly end up uncovering that the prospect I am speaking to does actually have someone else who they will need to gain the final blessing from to move forward, particularly with higher ticket transactions. In those instances, be sure to schedule your appointments with both or all decision makers present.

Step 3: Understand their decision making process.

Similarly, if you want to avoid or eliminate the “I’ll get back to you” response, you need to ask them questions that will help you understand what they need to make their decision and how they make their decisions. Ask questions like:

  • Are you seeking other proposals at this time that you’re waiting on?
  • If I were to submit a proposal to you tomorrow how long do you need to make a decision yes or no?.
  • What is your decision criteria for choosing the right ____?

Asking these questions during the preliminary stages will have your prospects telling you exactly how they buy and what decision criteria you need to match in order for a sale to occur. For those of you in the serving professions who prefer not to use words like “selling”, think of it as asking the right questions to help your interested prospects to decide if they should hire you.

© Copyright 2016

Attracting New Clients on LinkedIn – 4 Steps to Getting Started

Did you know that LinkedIn has proven to be 277% more effective at generating leads for your business than Facebook or Twitter? With more than 200 million users, LinkedIn is the most popular social network.

If you’re looking for ways to attract new clients faster and easier you need to learn how to maximize LinkedIn marketing for your business.
I have built my solo coaching practice on LinkedIn. What I love about LinkedIn marketing is that it’s free to use — can’t get better than that!
And, it does not require a huge amount of my time. In fact, LinkedIn alone has generated 6 figures in new business for me in as little as 30 minutes a day.
The thing I hear most often from solopreneurs is that while they have a profile on LinkedIn and accept connection requests, they have not been attracting new clients from their LinkedIn marketing.
Okay, that’s like saying you ordered the treadmill and got it set up, but you’re still not losing any weight. If that’s you my friend, I’d like to point out — you need to actually walk or run on that treadmill regularly to start seeing results.
Well, if you’re not on LinkedIn regularly, it’s most likely because you don’t know what you should be doing on LinkedIn to attract new clients. Here are 4 key actions you can take right away to get started.

1) LinkedIn Tip #1: Claim your vanity URL.

When you first fill out your LinkedIn profile the default LinkedIn address you receive will be made up of a garbled combination of letters and numbers. You want to make your profile look more professional and easier to share by claiming your LinkedIn vanity URL.
Instead of a URL like https://www.linkedin.com/in/hslegsbklbsekhb8, it will look a lot more professional as https://www.Linkedin.com/in/YoonCannon.
All you need to do is click “customize your public profile URL” down on the right-hand side.

2) LinkedIn Tip #2: Name your blog and website links.

Instead of using the default “My Website” you can help yourself stand out and be more memorable to your LinkedIn viewers. You will need to choose “other” in the 1st box in order to see the 2nd box where you can now write the name of your blog or website.

 

Screen Shot 2013-10-16 at 12.43.13 PM

Then, in the 3rd box you can write in the url address of your website, blog site and/or landing page.

Each profile can display up to 3 website links like this, and they can be customized by editing your profile

Screen Shot 2013-10-16 at 12.43.27 PM

 

3) LinkedIn Tip #3: Install applications.

LinkedIn provides a variety of different applications you can use to improve your LinkedIn profile. Check out the Application Directory, and consider linking your blog or applications like SlideShare to showcase your thought leadership and expertise platform. There are a lot of great applications available to help you stand out among your competition on LinkedIn.

4)  LinkedIn Tip #4: Register for my free LinkedIn teleseminar.

There is so much more I can share with you in my 60-minute teleseminar than I can fit in the scope of today’s blog post.

Linkedin TeleSeminarIf you want to eliminate the overwhelm of social media and discover how to attract new clients faster and easier let me help you during my free LinkedIn training call.

I invite you to join me on

Thursday, October 24th

1:00 pm EST, 10:00 am PST

To register simply click on

https://www.ParamountBusinessCoach.com/teleseminar

In this power packed LinkedIn training call attendees will discover:
• The reason why you’re currently wasting most of your time on LinkedIn
• How to quickly build your expertise on LinkedIn
• The 3 little known LinkedIn marketing secrets to quickly attract new clients
• Time saving strategies to profit from LinkedIn in as little as 30 minutes a day
* If you can’t make the exact date, register anyway and I will be happy to send you out the replay.

QUESTION: What is your biggest challenge when it comes to marketing yourself successfully on LinkedIn? Please share your comments below.

About Yoon Cannon: Top business coach Yoon Cannon has helped thousands of small business owners, entrepreneurs, coaches, consultants and sales teams achieve dramatic results in growing your business. Over the past 20 years Yoon has started 4 successful companies and sold 3 of them. She offers fresh insights as a seasoned business growth expert. Yoon delivers proven process for your sales, marketing and management development.  Grab free valuable gifts and resources at https://www.ParamountBusinessCoach.com  To book Yoon to speak at your next event email: YoonCannon@ParamountBusinessCoach.com To schedule a complimentary business coaching consultation call (215) 292-4947. 

© Copyright 2016

Hold Onto Your Cash for a Healthy Business

The U.S. Department of Labor estimates 50 percent of U.S. businesses fail within the first five years. The primary reason is poor cash management, the U.S. Small Business Administration (SBA) cites. Good cash management is about keeping your cash as long as possible, and convincing your customers to pay promptly. Keeping a few cash management principles in mind will help you keep a healthy business and stop you from becoming just another statistic.

The Confusion Over Profit

Profit and cash flow are related but not equal, stresses Inc. Your profit and loss statement gives you the simple results of revenue minus expenses. A positive result is considered profit, but you can’t tell how healthy your cash flow is by just seeing a profit. Areas you need to watch include:

  • Accounts Payable
  • Accounts Receivable
  • Inventory
  • Capital expenditures
  • Level of debt

If customers are slow to pay, resulting in a high receivables, you could see a profit on the books, but a lack of cash in the bank. You could see a profit on paper, but not be able to make payroll or pay your suppliers.

Getting the Bigger Picture

You need to have visibility into your cash flow to know where your company stands, and where you might be in a week, month or year. Future cash flow prediction is an educated guess based on the trends you see in the areas mentioned above, says Entrepreneur.

As soon as you can, get your business onto a consolidated system, so you can easily see the patterns in your business. Cloud-based applications, such as the retail management software from NetSuite, bring together both your online and offline activities to give you a complete picture. Relying on spreadsheets or different applications to track online and offline channels makes it painful to bring the data together so you can accurately predict your cash flow.

When you have the complete picture, you’ll have visibility to such trends as:

  • The payment history of your customers
  • The accuracy of your planned expenditures
  • The ability to cover unplanned expenditures

Without the consolidated view of your performance data, you won’t be able to make those educated guesses needed to plan for your company’s future.

Managing Receivables

Ideally, all of your customers would pay for your products and services at the time of the sale. That won’t necessarily happen as your company grows and increases the customer base by offering credit and special terms. Increase your cash by bringing in more customer payments:

  • Give a discount for paying bills early
  • Request a deposit when an order is taken
  • Get invoices out quickly, and send reminders at 30-, 60- and 90-day intervals
  • Once you’ve identified slow paying customers, put them on cash-only terms

Small business owners don’t like the idea of being a bill collector, but the SBA suggests you should do all you can to get something from the customer, because third-party agencies take at least a 30 percent cut if they are successful. Giving discounts as an incentive for payment will let you keep more of the cash in your pocket.

Managing Payables

Keep your cash as long as you can. This improves your cash outlook, especially to banks and investors.

  • Use your supplier’s credit terms whenever possible
  • Make payments on the last day of your vendor’s cycle — day 29 on a net-30 term
  • Use electronic funds transfer (EFT) whenever possible
  • Communicate with your suppliers, and build rapport in case you need a break to delay a payment
  • Select vendors to work with that have the best terms for your cash flow, not necessarily the lowest prices

Talk to a Factoring Broker

A factoring broker is someone who purchases your invoices, so you use the cash flow immediately for things like making payroll or purchasing needed equipment for the business. This is an excellent solution especially when traditional means of borrowing aren’t available. A factoring broker I highly trust and recommend is Jack Wilson.

A healthy cash-flow is integral to helping you grow your business to the next level. You need cash flow to allow you to hire top talent, beef up your marketing and upgrade your systems. As the saying goes, “you need money to make more money”.

QUESTION: What is your biggest challenge when it comes to increasing your cash flow? Please share your comments in the box below.

© Copyright 2016

5 Cool Web Tools for Small Business

small businessRunning your own business can be very overwhelming at times. You’ve got so much you’d like to do, but never enough time it seems to get it all done.

The good news is we now have access to a growing list of web based tools that offer excellent solutions for the busy entrepreneur.

Here are 5 cool web tools I highly recommend for small business owners to increase your productivity, so you can work less and earn more.

Cool Web Tool #1. Work and train remotely. 

freescreensharing

It’s easier now more than ever to work remotely. Whether you’re on the road or your staff is working virtually, you can easily share your computer screen with others. I use Free Screen Sharing to train a group of people or even just one person. The tool allows me to share whatever is on my computer screen with those who I invite to my session. This tool offers unlimited meetings with up to 96 participants at a time. They also throw in free, dedicated conference bridge line you can use at anytime. Visit FreeScreenSharing.com

Cool Web Tool #2. One application and dashboard to organize your entire business.

FusionForgeFusionForge has tools to help your team collaborate, like message forums and mailing lists; tools to create and control access to Source Code Management repositories like CVS and Subversion. FusionForge automatically creates a repository and controls access to it depending on the role settings of the project. Learn more about them at www.fusionforge.org

Cool Web Tool #3. Free invoicing with easy online payments.

vogogo_300x100Vogogo is a B2B risk management and payment services business that has spent recent years developing and launching technologies to enable secure and compliant online transaction processing between businesses and their customers. This unique combination gives Vogogo the security, flexibility and scalability to meet the demands of a marketplace driven by technology and seeking reliable risk management as well as effective access to conventional banking and payment services. Visit www.vogogo.com

Cool Web Tool #4.  Easily track your billable hours for each client. 

harvest-time-tracker-1392-b-512x250Whether you’re a landscaping company needing to track design time for 30 different clients or you are a solo attorney needing an easy system to track your billable hours, Harvest is a great tool. They let you easily and accurately track time as well as analyze your time with powerful reports. This cool web tool also allows you to instantly create branded invoices for your clients. You can get this both as desktop and mobile applications. Visit www.GetHarvest.com

Cool Web Tool #5. Stop wasting time with staff scheduling.

shifthub-logo Shift Hub is a great new employee scheduling and communication platform to save you time and money for the small business owner. Now, as a small business owner you don’t have to waste valuable time putting schedules together and responding to constant scheduling change requests. Visit www.ShiftHub.com

There are hundreds of excellent web tools out there today. The place to start of course is to first identify which of your tasks are tedious, recurring and/or involve multiple steps to getting it done.

Once you’ve shortlisted the time consuming tasks in your work you can then begin searching for the right tool. Or, even better why not just ask our community right here and share what you’re searching for in the comment box below.

QUESTION: What is your favorite web tool that has saved you time, money or headaches? 

© Copyright 2016