Do You Discount In Your Business?

Do you discount in your business?  Instead of discounting, what if you raised your prices by 10%.  What would that mean for your business?  Do you think your clients or customers would simply walk away from your business never to come back.  I’ m not going to beat around the bush here.  You could lose a few customers.  Matbe you needed to lose those customers.

What I am talking about here is finding your NICHE.  What is your niche?  What makes you different from your competition?  Why do your clients and customers keep coming back to you.  Do you have a guarantee?  What is your Unique Selling Propostion(USP)?  It is because of these simple things that people buy from you.  A NICHE, by my definition, means: NO PRICE COMPETITION!  That means you could charge whatever you like for your product or service.

It sounds to good to be true, right?  Well it isn’t.  Find your NICHE!  Hire a Coach to help you create a guarantee or your Unique Selling Proposition.  This is what a coach does.

If you would like more information, email me at steve@totalsynergysolutions.com

Steve Stockham

Certified Business Coach

Total Synergy Solutions

281-537-7900

5 Key Indicators to Track In Your Business?

Do you, as a Business Owner, know how much money you are spending on Lead Generation? Do you track how many leads or prospects you convert into clients? What is your Average Dollar Sale? How many times do your clients or customers buy from you? What are your Profit Margins? The answer for the vast majority of Business Owners is “NO”!

There are 5 key areas that every Business Owner should track in their business. I guarantee that if you did nothing in these areas of your business but track them, you would have at least a 10% increase in your overall business! Those 5 areas are:

*Lead Generation
*Conversion Rate
*Average Dollar Sale
*Frequency of Purchase
*Profit Margin

As a Business Coach I have helped many Business Owners put more money on their bottom line just by tracking these numbers. What if I told you that I have over 300 cost effective strategies, that have been proven to work, to help you increase every one of those areas in your business.

This is not rocket science! As your Coach I can help relieve the stress of running your business. I will get you working on your business and get you to stop being the technician working in your business!

The bottom line is, just find a Coach! Because no matter how good you are, you cannot do this on your own!

If you would like some more information, contact me.

Steve Stockham
Certified Business Coach and Mentor
281-537-7900
steve@totalsynergysolutions.com

Lead Generation

What are you doing to attract leads to your business? Are you closing your eyes and crossing your fingers and wishing these leads will come to you? How is that strategy working out for you? Probably not as well as you had hoped.

What are you doing differently now to grow your business? What if I told you that there are over 70 different ways to generate more leads for your business. These are low cost strategies that have been proven to work in business all accross the world.

You are probably telling yourself that you have tried everything that you possibly can to generate more leads. As a Business Coach, I can honestly tell you that you have not! Stop blaming the so called RECESSION! There is only a recession if you choose to paticipate in it. Did you know that there were more millionaires created during The Great Depression than any other time in American History. Those millionaires chose not to participate in the recession! They did something different. What are you doing?

What can you do differently? Hire a coach or a mentor! Think about it. Look at all of the successful business owners and athletes around the world. What do they all have in common? They all have a Coach or a Mentor working for them.

Hire a Coach! A true coach will find his fee within the first 90 days of the first coaching session. You should be able to know in your mind that the coaching is free to you!

A Coach works for you and their sole purpose is to help you grow your business!

To know more, contact me.

Steve Stockham
Certified Coach and Mentor
Total Synergy Solutions
281-579-7900
steve@totalsynergysolutions.com

Sales…The 7 Most Important Facts Every Salesperson, Including You, Must Know

1.      You’ve got to qualify the decision makers quickly and simply… franchise, I’m sure you’ve had the experience of running through your whole sales pitch only to hear, “I’ll have to ask my partner about this…”

 

Put a system in place to make sure you’re only ever selling to decision makers… and most importantly STOP wasting your time… it’s valuable.

 

2.      Learn how to contact those so called ‘hard to reach’ decision makers… They’re only hard to reach because you haven’t found a way in yet…  Of course, timing has a lot to do with it but your marketing is your foot in the door, and it’s then, that your sales skills are put to the test…

 

Strategically the fastest way to contact a ‘hard to reach’ decision maker is to send them a marketing piece about yourself and your business that has a little yellow post-it note attached with this message, “Thought you should read this… CK.” By the time they’ve thought about who sent it to them they’ve read your letter …

 

Or, send them a letter that promises you’ll give them a call, and then when you speak with their secretary you can say that you promised to call them personally…

 

      Speak with the right person, find out why they buy, and help them do it NOW…

 

3.      How to create literally hundreds or new and qualified leads each and every month … Stop wasting your time working hard and chasing blind leads and get your marketing working for you and have your leads call you.  That way you’re only dealing with people who ‘want’ to work with you…

 

4.      Price is Never a Concern… Unless YOU believe it is first… The only sales people I’ve ever met who get heaps of price concerns are the ones who focus on it themselves… Get over it; make your customers focus on value and service instead…

 

      Ask your prospects questions that focus on service, value and their needs, never price…

 

5.      Ask more questions… The key to selling is having your customers sold before you ask them to buy.  And, the best way to do that is to have them sell themselves by answering your questions…

 

6.      Listen and give positive strokes… After every question listen well, don’t jump in and make your point, just stay quiet, nod your head and agree, then ask another question…

 

Put bluntly, you don’t have to make your point every few minutes, just let them speak for a half hour or so and then bring everything they’ve said together to make your sales argument…  Remember, it’s things they’ve said that makes your sales pitch to them…

 

7.      Never ask for the sale… Assume that they want to buy and just confirm details of the sale, like their address, the color, etc.

 

All the Best …Steve Stockham

PS.  Check in with my ActionCOACH team if you want more on this … www.actioncoacheasttexas.com …281-537-7900.

Overcoming Self Limiting Fear – Take The 1st Step

Have you ever been overcome with self limiting fear? How about just hindered by fear of failure? Don’t rush by this next question. Pause and give this some concerted thought. What would you attempt if you knew that you could not fail?
Fear is the greatest but, perhaps, the most subtle obstacle to reaching our goals. We might think we’re stalled because of other people’s objections, insufficient resources, or circumstances outside our control. But it is often fear that keeps us from seeing a way around barriers – causing us to abandon our dreams. We can’t eliminate fear. But we can manage it and move past it.
Much of what I am going to share with you comes from my own personal battles as well as from the wisdom of others. It is my hope that you will take away some useful information from this article that will help you construct a more fulfilling life.
In last week’s article I gave the formula for change: (D x V) + F >R, wherein D = Dissatisfaction with our current circumstances, V = the Vision of our future and F stands for the First Steps that we must take to begin the change process. All of this must be greater than R, our Resistance to change, if we are to grow.
The fear that keeps us from taking that first step is usually self limiting fear, not imminent physical danger.
How do we overcome self limiting fear?
I have 6 thoughts to share with you that might be of help:
1. Realize the Truth: Self limiting fear is in our minds – it is not a wild animal waiting to devour us on the trail. Self limiting FEAR is: False Expectations Appearing Real
2. Analyze your Circumstances: Ask: “What is the worst that could happen?” Then convince yourself that you will be OK if it does happen. Realize that God gave us good minds to use so that we can avoid the worst that could happen. Then ask: “What is the best that could happen?” Is it a whole lot better than the worst? If it is, then ask yourself: “What’s up with the fear?” Learn the difference between devastation and disappointment. Few outcomes are devastating. Fear is an appropriate response only when life or health is at stake.
3. Pray for & Visualize the Desired Outcome: Has anyone noticed that our fears tend to become monstrous in the middle of the night? Prayer is a great way to slay those monsters. I draw strength from a favorite Bible verse: Phil 4:6 – 7. Also, remember, we tend to actualize what we think about. I have a sign on my desk that states “What I focus on will expand!”
4. Force some Routine into your Life: Exercise relieves anxiety by relieving tension and releasing endorphins; giving us a sense of control over some aspect of our lives. It’s a great way of learning the disciplines of goal setting and achievement, which bolsters our confidence. Access other valuable routines such as reading empowering books like the Bible and biographies of people who overcame great obstacles.
5. Connect with Someone: All fears, no matter how big or small are worse when we face them alone. Find someone with wisdom that you can trust: a relative, friend, counselor, pastor, or a coach – someone who can help you to put your fears in perspective and overcome them. I have a coach. He has helped me overcome my demons.
6. Take the First Step: Finally, muster enough courage to take the first step. Be willing to stretch your comfort zone, realizing that is how we grow. Joining Toastmasters is a great way to take the first step toward overcoming one of the biggest fears for many people – public speaking.

In closing, since I am an ActionCOACH I must conclude with an action plan! That plan is embodied in a favorite saying of ActionCOACH founder Brad Sugars: “Do you want to grow? Then do what you fear the most!”
Steve Stockham is a local business owner and business coach with 18+ years of business experience. Forward your business questions to: 281 537-7900 or stevestockham@actioncoach.com

If It’s Going To Be Right I Have to Do It!

If It’s Going to be Right I Have to Do It!

Do you ever find yourself making that statement? Do you struggle with your staff delivering inconsistent service quality or handling customers with your level of professionalism? Do they sell your products or services as well as you? For many business owners, the answer is NO! So what is the solution?

The default solution for too many entrepreneurs is to work lots of hours and do it yourself. If this sounds like you, how is this “solution” affecting your lifestyle, time with those you love, and your amount of recreation? There is a way out! Put systems in place so others can do the tasks the same way you would, or possibly even better.

Systems are your way of empowering your team to perform the work on a level as if you were doing it personally. View the word SYSTEM as an acronym for: Saving You Stress, Time, Energy, & Money! Systems reduce your hours and stress by empowering average people to do great work. Systems also insure that customers receive the consistency they expect – each and every time. Sound too good to be true? Ask yourself: “How do other businesses grow beyond the owner?” – by creating systems to run the company, freeing the owner for strategic growth initiatives. Below are some simple guidelines for creating systems that work.

Keep them simple
If the system or documented process is complex, then keep working to distill the activity down to its critical essence. When you thoroughly understand something, and present it well, it will become simple for someone else to replicate. When is it truly simple? – when someone else, unfamiliar with the task, can complete it using only what you have documented in the system.

Write only systems that make money or reduce risk
You are not in the business of creating manuals, so only create a system if it simplifies a task, improves quality, or speeds up a service. This will keep you focused. Start small and grow the system(s) with time.

Assure the systems you develop are used
Have you heard of the proverb: “What gets measured or monitored gets done”? As you create systems or document processes, include a monitoring or measuring protocol to insure the systems are used.

Make the system selectively accessible
Not every team member needs to use every system. Your master manual should contain all of your systems. Individual team members should have copies of only the systems that involve them. This makes it easier for someone substituting as backup or when training a new team member.

Get the team involved
Who better to help document the systems than the people who are currently doing the tasks? The team can also help you improve the current systems by identifying redundancies and what’s not working.

Make sure the team knows their role in the overall process
Unfortunately, it is normal for team members to disagree on the sequence of tasks and how to best complete them. Team members need to know their role and how it affects the overall results. Clearly written and agreed upon roles (job descriptions) go a long way toward accomplishing this. So start the systemization process with clearly written job descriptions.

Documenting the systems in your business may seem overwhelming. Don’t try to do them all at once. Document one or two systems, implement them and monitor the results. Once you are satisfied, move to the next one. So where do you start? That’s easy – select a task that you are currently doing (but shouldn’t be) or one that can fix a problem you are currently facing such as product rejects, low sales conversion rates, poor service or customer satisfaction, etc.

A final thought: take it one step at a time – but just do it!

Welcome To Your Home Based Business

Gone are the days when home-based business was limited to Tupperware parties and the sole operating seamstress. With the advent of new technology, the thirst for a lifestyle greater than 9-5 and the changing dynamics of the modern day family more and more people are turning towards professional home based businesses.
There are 5 key motivations fuelling the growing popularity of professional home based business: time, lifestyle, profit, team and technology.

Obviously time is a key factor when working from home. Home-based professionals are not disadvantaged by the down time normally spent travelling to and from work and they enjoy flexible hours. Clients also benefit from flexible working hours and can schedule appointments to occur before or after work.

The lifestyle of a professional working from home allows for increased interaction with family members, a tailored work environment and the freedom to set the self paced completion of tasks. A win-win relationship also exists between home based business and their client base due to increased profit potential – due to low overheads. What you save on renting an expensive office suite can be passed on to your clients – creating a win-win solution for both parties.

Business owners often can work with their partner to create a great team synergy in the home environment. After years spent working in separate careers many home based
professionals can involve their partner in the business. Partners can be involved in a business development and support role and teenage children who have excellent computer skills can earn some extra pocket money.

Not surprisingly the rapidly expanding portfolio of business technology makes the home based option a very attractive one. Utilizing e-mail and the Internet as well as teleconferencing can make for a very professional approach to business from their own home office.

However, the home office environment is not immune to the challenges faced in the conventional work environment and a day in the life of a home-based professional is anything but average. There is no such thing as a typical day. By necessity, business owners should reserve time in each day for different kinds of chores e.g. starting Mondays with a meeting and ending Fridays with writing reports,

There should also be time reserved for training and attendance at workshops. Home-based professionals must be proactive and consistent in furthering their own personal and professional development. Networking opportunities are also important in keeping up with latest changes in the industry and provide a catalyst for new ideas and strategies.