Biz Dev - the intricate art of growing a company, understanding markets, pursuing customers and building relationships. Listen here for the latest advice, success stories, tips, tricks and long-term strategies, aired on leading talk radio shows and premium podcasts.
Vernon Lockhart: Art On the Loose
"All right. So tell us who you are and what you do. My name is Vernon Lockhart. I am a designer. I call myself a creative therapist. I am a exhibit designer, a brand developer interactive designer. Artist. and. I. Am the executive. Director of a program project called project as Moses out of Chicago. Now. One thing that I've been doing for everyone kind of just the start of these interviews during this pandemic kind of just doing a check in to see how folks are doing. So how are you holding up? You know we're given the space in times we're in we're I'm holding up pretty well I think one of the saving grace for me in a lot of this is. When you grow up on from the lane of saying boo as I grew up in a very rough area in Saint Louis and you know we faced adversity every day so. You know you have the coronavirus in things like that now. But for me growing up, you had to face all kinds of threats, potential adversaries so Well given the circumstances, I I commute back and forth caring for my mother who affectionately call a baby girl just can't for. So that's probably one of the key challenges but as far as. Things go we still have a lot of clients that we work with online and for project ASS? Moses alive things virtually with the students given the circumstances I'm I'm very grateful and feel very blessed to will be functioning at full capacity. What does a regular day look like for you now? So for me, a regular day would be getting up one thing that I don't have to do as much in. Okay. With this is not commuting back and forth so much. But getting up saying my prayers getting some breakfast getting on my laptop, looking at emails checking the circumference of the day clients. Immediate needs doing those usually that takes me up until about mid day I usually try to schedule any meetings I have around thirty two noon referee and then any errands I have to run out of usually do air early evening I'm a southern boy living in a city. CHICAGO. So I still have a yard and in a house and things like that. So you I'm out cutting. And things like that towards the evening. So I would call it a pretty normal southern boy day usually my average day but I'm a businessman at the same time. So you know it's a balance between the two but that's an advocate from. So speaking up about business you have a design firm called art on the loose is that right? That's correct. Tell me about it. When did you first start that? So are Donna loose very interesting. We been in operation. Now for about twenty three years I started in the late nineteen I'd say about ninety six and tonight six roughly. And we I was actually working at northwestern university in their at their center for Public Safety Division and we will working on a lot of. Copro shears and things like that in. So it was kind of mundane just no adventure knitted all in myself in one of. Colleagues that I work with addicts Ner we had conversation as I wonder do more I want to be free. I would have some creative freedom here in we started talking about doing our own design work. And in our conversation start playing with name ideas in that I mentioned you know I wanna be free I want to be loose in a good way right as a heart let's let's and so we kinda because we were both artist and he says so let's just call the artem loose in. That's how the name was born in banding Hannah came from this whole Superhero Ultra N-. Staying that I was called as a key going up still combat to this day and so we use kind of empowering. The word artem lose but also with the whole color Palettes, we used our background is how we grew up to create the the business name and I have to just this quick story about ultraman lousy key kids were were calling me ultra because my it was pointed they call me the football hero Alterman. I was like you know and I came home from school I'm I'm one of ten kids, right so I came home from school that I was upset and I start crying to my mother baby girl and I told her what the key is will call him the main she say at wait a minute isn't all tremendous food bureau SABA come home from school to watch ultraman every. Day, and she said I thought he was a superhero say he is. He says we'll take that negative and make it a positive and so I literally went up to my room and start designing year Alterman on and I, went back to school they pop my collar and was like they were like ultimate success right on alternate and so at three sixty beds. So it started all Japan. And took that negative in Medan deposited but also is one of my personal experiences and Brandy. In power of branding, and so I took that icon and symbol. Even. If you look on our business site, you'll see that iconic symbol for for ultra mass I knew. To this day in and I got my design in artistry from my mother, my mother went to design marks. So that's how artem loose in the name came in existence with the story behind it to
Why Buyers Behave The Way They Do
"Happy to be back with part three of college purchasing portfolio Matrix. If you've been following along then hopefully you have a high-level understanding of the framework wage. If not, don't worry check back on tips 6 or 1 and 6 or wait to get caught up for today's tip. We move to leverage items where items have a high profitability but a low risk factor buyers possess the balance of power in the relationship and leverage the strengths to obtain great value for their organizations. Myers just love to operate and leverage market for two reasons one. This is typically a commoditized market with an abundance of suppliers. So there is no risk for bias at all off to these items have a high Financial impact. So it's a great opportunity to show the added value that buyers have a typical example of this is Road transportation for a fast-moving consumer company. There are hundreds of suppliers of logistic services and typically transport represents a large chunk of their spent. as a result, you'll find buyers run requests for quotations or auctions to get the best prices in the market and in all fairness buyers can get away with this because if you don't play ball with someone else will so what does this mean for you as a sales professional? How do you deal with buyers in a leveraged Market fundamentally? There are two options here option one you focus on your own cost competitiveness. This means you accept the market you're in and you're looking for ways to be cheaper than your competitors by doing. So you would have the best chance of winning business option to walk you make your product or service unique by differentiating from your competitors you provide a product or service that nobody else can this way a buyer has to work with you because they say you have no other options. Be creative with what you can do, since it is never an easy step to take it might require a significant change in your proposition. That's it for understanding leverage markets offer. Happy negotiations everyone for more about
Guy Raz on pursuing business ideas
"Interviewed some of the top entrepreneurs in the world to date. So let's just dive into this because I know my audience fire nation, they want to know what we need to do to. Develop ourselves to start a business to pursue big ideas. What's the next step? The next step to pursue a big idea is hard work I. Mean I mean coming up with an idea right and imagining your product on the shelves of store or or you know improving someone's life or people talking about it? That's the easiest part starting a business that is easiest part when you come up with it. The hard work begins the next day when you. Sit at a table and you start to map out the business plan and then you start to figure out How am I gonNA pay for it? How am I going to get a distributed? How am I GONNA? Make it get a made. How am I going to get it going now? The key and the trick to doing this is to think about about it in the same way that In the same way of an African proverb, there's an African proverb that says the way to eat an elephant is one small bite at a time, and that is essentially the story of creating founding and creating a business. It is one small problem sometimes large problem to the next to the next incident to the next. and. Essentially it's a never ending story running and start starting running a business is about solving problems in a day to day basis but they become more manageable over time and so really to take your idea and to get off the ground, you've got a breakdown down your. Your problems you've got to break down your ideas in smaller chunks and tackle. The challenges one at a
Language Apps Emerge as Lockdown Leaders
"Do wonder just we w Brown as you present business wars daily savant device ACC September. See there while some of spent pandemic free time baking sour dough bread or painting watercolours others chose more. Academic pursuits including learning new skills and even new languages online learning surge during lockdowns linked in learning, which offers online courses. Three times as many people used its offerings. This July compared to last language APP duo lingo also benefited from bad behavior shift. The company lured learners with the promise of letting you quote, learn a new language for free. Forever it's number of US users jumped nearly one hundred, fifty percent between March, twenty nineteen and March. Twenty twenty. The duo lingo look is based around Games bite lessons, include listening exercises, flash cards, and multiple choice questions to help you hone new words and phrases answer a question correctly and you get points. Other exercises make you race against the clock. The APP also connects users learning the same language. So they can practice communicating one study found that thirty four hours of duo lingo learning could get you as proficient as a university class even. Before the pandemic, the APP had become something of a pop culture phenomenon I. Well, it's fun and it's also widely known for its quirky sentences and phrases. Duo Lingo users may find lessons teaching them how to say bow down before your God or what a rude Dolphin along with more useful turns of phrase according to Buzzfeed the company is using artificial intelligence to help improve its interface and become more effective in helping people learn. And it seems to be paying off the startup reached Unicorn status in December and has thirty million active users. But now, brand new online language company is taking a different approach to can is betting that the free time people are voting to online learning during the pandemic is going to evaporate as our lives gradually returned to their old frenetic pace. So why not pare down the language learning process to help you understand enough words to get by the companies headed by Taylor Niemann formerly of meditation APP head space and car leasing. APP. Fair investors just gave the two can't team. Three million dollars in seed funding to give it a shot to can isn't an APP but a free Google chrome extension install at the language you Wanna learn and Voila instant immersion. You'll start seeing words and phrases pop up as you browse you'll pick up vocabulary faster when you see it in context to Kansas plus you're saving time feeling bilingual take quizzes to measure your proficiency and earn achievements to keep you motivated to can currently supports Spanish French Italian German and Portuguese. Now too can won't make you fluent, but it will help you learn enough okabe learn to communicate the team says. Expansion packs give you topic specific collections of basic words and phrases. So if you break your leg in Mexico you can talk your way through the hospital at least one hopes. To can has a long way to go before matching dueling goes. Status, but it's vision for the future goes way beyond the language arena. Nieman. Told Tech Crunch that the company could apply the same concept to history science math or even general information perhaps then schoolteachers might actually encourage students to bring their phones to class imagine that.
How To Negotiate Any Big Expense
"Let's jump right into today's lesson and make sure we know how to negotiate those big expenses. So first, let's identify what our big expenses are. So you've got to take a look air piano if you don't have a profit law she. Then, you should have one. This is a simple simple google she or excel. She were you just list all the things you spend your money on for Your Business, the expenses, the loss sheet. And the profits are, of course, we revenue another quick and dirty way to do this while you're creating or is to take a look at your bank account we're your money is going when it comes to the expenses of Your Business. For the moment, we're GonNa put aside any payroll, any employees that work directly for you because that's something that you've agreed upon and we don't to Give somebody something that they didn't expect right. You have an expectation you to make sure you pay them what they're worth the exception to this are contractors or service providers. Maybe you're outsourcing your marketing or you're paid advertising and you have a firm that's doing this for you. You definitely negotiate that and you can use the techniques I've talked about today. So what other big expensive? Jeff server costs do. Maintenance deaf suppliers. Do you have rent. That's costing you a lot of money. Equipment, what is it wants you to list the top five big expenses and have them handy. You're spending a lot of money you're paying a company, a certain amount of money. Every single month is a good chance. You're a high volume customer. You are actually consuming their service or product at a high rate and your customer they don't want to lose they want to do everything they can to keep you happy and keep you paying. So you have a bit of leverage here when it comes to negotiating a better rate. One of the easiest ways negotiate a better rate is commit to a longer term. So for example, we have server costs to run our software company. We Pay Amazon web services, thousands, and thousands of dollars every single month. Literally hundreds of thousands of dollars every year. So one of the things that we do is we negotiate a better rate with Amazon say to them. We're not going anywhere. We want to commit to you. We will commit to a year in advance. Now doesn't mean you have to pay everything upfront. It just means that you're locked into a contract where you're not gonNA move off their platform it's pays go anymore you're going to lock in in exchange for a better race you're paying less every month you lose the flexibility of the possibility of leaving the platform you're paying that kind of money. Going to be free to leave anyway, commit to a longer term a year to year contracts even are available for a lot of types of companies and suppliers call them up, find your account manager and say, Hey, we want to go she a better rate and even if you save ten fifteen percent that makes a humongous difference on your bottom line in terms of what you. Spend every year. So negotiation tactic number one is unique negotiate a better. If you commit to longer term, another negotiation tactic is that you commit to more volume. For example, I was coaching client a few years ago who their APP has SMS reminders, and they have a supplier that allows them to send X. Amount SMS's every single month they committed to a higher volume semesters. Have more customers before they were kind of on a lower plan they're paying SMS after a certain rate. So they said, hey, instead of us, you know on this lower plan and we pay SMS after we hit our limits how `bout? We say we're going to pay for thousand a month instead of the you know twenty or thirty plan. Every month, no matter what will pay for a thousand SMS is and those kind of the number of SMS's they were using every month anyway. But the commit more volume up front every month, and therefore they can negotiate a better rate. Another way to save money on a big expense is to make sure that you're actually being billed in your local currency i. know this sounds very simple but the exchange rate and the international fee that your bank might be charging you. Could be astronomical because of the volume because of the number that you're being charged the price. So. For example, if you're doing business with a UK company and they're charging you a British pounds every time they charge you, they're converting that British pound amount to your local currency. It's a really bad rate for the most part you're losing money on the exchange and your bank will charge you an exchange or a foreign transaction fee. So this can get expensive. You can call this company up and say, Hey, can you charge me in my local currency and basically you agree on what that is, and of course, currencies will fluctuate. So the MIC give you a know an exchange rate that's not super favorable but fair which. means. You know exactly how much you're GONNA pay every single month regardless of what the market's doing wherever you know foreign exchanges or doing, and there's no international transaction fee saving you some money
Former Blackboard CEO Aims to Bring New Features to Zoom Classrooms
"The former CO founder of blackboard, which is a learning system that I don't know if you guys used in college I, used it to check grades and syllabi. You don't like it. Alex terrorizes putting thumbs down on the. Echo version of software ratings I mean is blackboard was notoriously bad. Even ten years ago I can't imagine it's gotten better well, well, thankfully, the CO founder has you know he went to actually precision Hawk which is a drone startup left dot in January is now onto his new company class EDU and their first product is not. So casually called class resume for everyone listening I. Suggest reading my story because the demo does a really good job and I won't be able to do as Greg Griffeth job but the features are basically creating zoom if it was genuinely belt for teachers to lead a class beyond kind of a one on one discussion, which is kind of how Zuma's right now. So some of the features all run to them really quickly as. A teacher can kind of launch live sinement quizzes and tests. Then it can see students complete them. We'll also seeing their desktop few you've to give permission, but we can debate on if that's too much power or not. It can also kind to class or music class, which is good for early learners. Its structure kind of puts the teacher on the left and let's students toggle between different views of the. Friends assignments they're talking about, and then finally it lets students reach out and ask a teacher a question and of do a one on one zoom with them on the side in case there shy and don't want to talk in front of the whole class. So it was a little the big features
How to Conduct the Right Sales Conversation
"Tip comes from Scott Roy. Scott is the CEO of Whitman Roy partner. He spent his lifetime building and running large direct sales organizations and co-founded a billion-dollar Nationwide Insurance Company in the US. He's also the co-author of the brand new book decision intelligence selling. Hi my tip for you today is how to create both concern and urgency in your customer to act and to buy from you. If you're a salvage sales person, you've already figured out that you should initiate your sales conversations by focusing on the problems the customer has and not by starting with your Solutions good sales people know this month, but still I see so many of them fail to do it or to do it. Well, so today, I want to cover the key skills around problem definition that drive the pace and the certainty of the sale this month. Ability transforms good sales people into great ones. Generally, there are for sales behaviors. I observed in sales people starting with the least effective in building from there to what I would call a standard the first kind of sales person assumes that they know the problems faced by the customer because they've had some training and their experience with other customers who are in a similar situation. They tend also to assume that the customer is aware of their own problems. And so this salesperson presents the product or service quite quickly and hopes, they spark the customers interest and then that's for the close. It's the most ineffective form of person-to-person selling the second kind of sales person listens to the customers challenges, but only long enough to hear the problem. They can solve then the dive into pitching their solution in trying to persuade the customer to buy this approach has a better chance for connecting the solution to a problem actually felt by the customer, but the check Bizarre that the sale is less certain the customer is going to have more doubts and will take longer than you want because the customer isn't really experiencing a deeper concern or an urgency to buy off. Now the Third Kind of salesperson is actually getting pretty good. They show genuine concern and empathy for the customer and they're actually expressing curiosity in their situation. They own know that listening deeply to the customers problems is primarily for the customers benefit not theirs and it helps the customer to build up their concern about the impact these problems have on them by lingering longer during the problem definition of the sales process. They create more engaged buyers who are attracted by the experience that you're providing them and because of this you'll close more sales, but actually there's a fourth level of selling that is reserved for the truly great ones. They do everything that the third level seller does plus one more thing off. They take the time to help the customer estimate the cost of the problems they have if they are not addressed and solved so they don't tell the customer the cost of their problems. They actually lead them through a brief back-of-the-envelope calculation and come up with an annual or multi-year cost of doing nothing about the problem. Then they asked based on the problems. We've defined a cost you've estimated. Is this a problem worth solving if the number is big enough the customer will proceed with urgency to find a solution and if it's a fit they'll likely by month. So in summary take the time to really listen to your customer Dig deeply into the problems. They have estimate the cost of the problem and ask the critical question. Is this problem serious enough and costly enough that you want to solve it. And if it's a yes then present Your solution to fit the well-defined problem. Now what have led you through today as a brief overview. You have the first two steps of what it's called decision intelligence selling or DQ sales for short just like IQ and EQ are about intellectual and emotional intelligence DQ selling is all about leading buyers through a set of Common Sense steps that help them make Intelligent Decisions. Now, they won't know how to do this. You must lead them through the process step-by-step DQ sellers are committed to help customers make the best possible decision by building their decision intelligence. They do this other customers by exploring for subjects thoroughly. And in this order first, it's the problem second. It's the cost of the problem if it goes unsolved third month. It's the solution to the problem and forth It's the value of the solution you're bringing this framework can be applied to short cycle one call sales all the way up to wage. Complex multi-million deals that require many conversations over a long period of time, but always the four major steps must be covered to greatly increase the customers competition to buy and your chances of making the sale.
Apple stock continues to drop
"We're entering the final stretch of the year in here we all with the five hundred virtually flaps for the year. So far guy in various shows we've talked about various iterations of apple being the king of the market apple being the tell the market appleby and the barometer. Here we are with apple down about fourteen percent. In. The past month. So what does that? Tell you. And I go back to some Steve set a week or so ago that you know he -ticipant at trading down to this or that ninety, five, ninety, six level and I happen to agree with them. One of three that we saw on Monday was a twenty five percent move from peak to trough. But historically, and there is history for this the sell offs of magnitude Annapolis. You've seen anywhere from thirty two to thirty, eight percent and I think you know that ninety five level probably put you right there on the screw so. What it tells me is as much as everybody you know I understand the reason you wanna own apple you just want to close your eyes their here's a stock that's given you many opportunities over the last decade. To get in at meaningfully lower levels than the prior all time high, and in recent past I, mean within the last two years a move from two twenty five, which was at the time it all time high one fifty and a straight line, and then recently I know this is pre split but the move from three twenty, five down to two forty and a straight line. So the stocks given you those opportunities and quite frankly we're on the precipice of exactly that again mill. You know you could two guys point that hundred day moving average is now ninety seven and apple, and you can to a guy just said before you can close your eyes and you've been rewarded with that in the stock for me I think those days are gone. And you'd want dip by as you said before, this is the ultimate buyers barometer. Now you have an upward moving two hundred day it's at eighty, four nine. I'm gone past the ultimate. We really get the sell off that I think we're going to get. That's the level Melissa that's going to be tested in apple and just think about how many people will get gutted in their idea, their brain, their emotions if apple traits to mid eighties that will be terrible for the overall market. Sentiment is is key here Karen especially when you're talking about a lot of retail investors to had gone into the markets in general gone into apple specifically wrote it all the way up and here we are I'm wondering if you think apple is as important a barometer for the market or if there's maybe something else on your screen whether it be a stock you own or not. That is a good tell for you on the market's direction. I think apple is still pretty good on the market's direction. I think long long all the way to the top still long probably by more trades down. If turns on further I. think it still is such an Americana Company and I think that the Nasdaq has obviously moved market up and it's now move the market down I. Still Think it's central to our all of our sentiments very widely owned retail stock as well. So I do think apple is still barometer but I think today I think it was a guy talking early that this fiscal. Floor not being there I think is increasingly important Kudos to Brian Kelly for calling when it really I felt it was very very likely to happen now likely. Yeah. I mean that seems to be out of the market at this
What's the best mic for podcasting?
"To, kick off his answer to the Cuny Wednesday question. What is the best Mike for podcasting? WanNa start by saying that I've done a ton of research on this topic. I've done a incredible amount of experimentation We've recorded over sixteen hundred episodes of this podcast and every single time record an episode. We try so many different things to improve the quality of the audio of the sound of the edit to continually be professional and compete with professional podcasts. So I'm not going to geek out on giving you all these different types of microphones you can buy on. Ana, give you the summation of what I've learned over the years. Will you really need to know what I would tell somebody if they're getting started with a podcast? Actually going to start somewhere completely different somewhere. The whole thing to do with microphones because you can have a state of the art microphone that costs five hundred dollars plus but it will do you. No. Good. If you're space is awful if we're you record is not a good space as conducive to recording, it doesn't matter what you're going to use to record for example, very court my podcast with a great quality Mike but There's construction going on there's noises dog barking I'm in a room with high. Ceilings and no installation that record is going to sound straight trash. Okay. It doesn't matter that you have a great Mike because your environment is horrible. Good news is that you can easily manager environment and make sure that wherever you record, it's actually conducive to agree recording. So one of the things I highly recommend is your cord either in a walk in closet or closet, the has shelving the bare minimum have your mic on a shelf in a closet and you record into that shelving into the closet. Because your voice is being projected towards the mayank into the closet, and because the shelving is kind of. Confined like into a box, your voice is not going to be bouncing around a lot across the room. It's going to be confined to the closet. This is sort of creating a makeshift soundproofing or sound booth. This is going sound a whole lot better than you just having your Mike at your desk in a big room. The next level up is to actually record in a sound proofing box. This is an actual Foam box has soundproofing that you place your mic inside. And you place that box into a closet or a shelf, and this really makes everything sound like studio quality. It's incredible and your listeners just using a portable soundproof box that you can buy Amazon it's about two hundred dollars, but it's actually worth more than the actual Mike it's actually going to improve the quality of your audio more than the actual. Mike. Itself I actually. Just. Looked it up on Amazon and the one I was thinking of a travel on, which is two hundred dollars. There's actually an alternative one that is in portable, but it's only thirty six bucks. It's called the choice studio sound recording, vocal booth thirty, six dollars. It's basically a box me out of foam where you can place your mic inside and talk right into it. That is going to make a tremendous difference. Now, let's talk about Mike's There are whole much of mine because I can go through but I'm GonNa give you two mikes. One that I would say is absolutely amazing for the price and you can actually use for all your podcasting with that soundproofing for as long as you like, and the second one is going to be if you insist on buying something expensive, this is the one I recommend. So the first one is the Audio Technica eighteen or twenty, one, hundred, it retails for about one hundred bucks on Amazon it's a be an xl are Mike, which is great. That means if it's used. To your computer and record using your recording software right on your computer or they're using quicktime or Daswani, or garage band or whatever using record your audio. Now I mentioned ex- LAR-. It also does acceler excellent actual cable that needs to go into a sound or quarter like a Zumra quarter if you don't own talking about then this is kind of technical and you may want to Google that but if you're interested in recording on your Laptop than you have to get a Mike, this be compatible which is this one, the audio tape, a tr twenty, one, hundred. This is why I think is one of the best Mike's you can buy period for podcasting for a webinars for calls. It's fantastic. It's really really an amazing quality Mike. It's on intellectual mish means that when you speak into the mic picks up your voice and it does its best of not picking up. Anything that's around in the room. So even if somebody's shouting across the hallway, if you're in a different room, it won't pick up
Ever Hire The Right Person For The Wrong Job
"So this is a quick shout out. One things. Look I'm hired a lot of people. You've heard me mention that. I've hired some amazing people in my career. And some. Not. So amazing right. But The ones that stand out in your mind you know when you look back over it. Everybody's got a story right? You have a story, I have a story. I remember some great stories of being hired on some impossible tasks in pulling it off. I I don't recall if I mentioned. I was a consultant at Lexus Nexus. I was hired in as a business analyst. As working for actually software consulting firm. In they got me a role at Lexus Nexus near Dayton Ohio. In there was just an amazing adventure but. During the interviewing process. My immediate superior had another candidate. That he preferred or SOM- told. In the. His boss. was very pleased with the woman who was leaving the role and she was trying to we call backfill. She's trying to back fill her position with me because we worked at the same consulting for. Him The. The boss, the project. The highest level that I was interacting with he looked at my skill set and he said, well, you know, I don't see all the. The seashell Bourne Shell the. UNIX. now called devops, the UNIX system administration, the programming I you know I don't see that strength on. On his resume. In. The person who is trying to get me back filled was like ill, it's here. You know it's Kinda hidden under the covers you know because of this role he can do X. because a y you can do z. kind of thing and was making the argument for me. And, that's that's why you as talent trying to get hired is you have to have a conversation with the hiring manager. It's that simple if you're going through the HR department to get a job. It's it's like you going into fight with your hands tied behind your back as not a fair fight by any means. So. I said all that to say. What can you do if your talent to get hired as you can put your best foot forward? How do you do that? It's not with the resume. You send him a resume its going into an applicant tracking system. I'd say nine out of ten times. If not more, it's almost guarantee in the ATS is Ben Tuned to the point where It's told give me the top three or four candidates for this position. and. If there's any reason to eliminate you say a mommy gap. You. Raisin a kid or apparent gap taking care of a parental unit Keva lemonade yourself. You WanNa, send your linked profile your linked in profile. Your chance to say, Hey, here's what I can do. Here's what I've done. Here's why I'm the best person for that position. and. If you hiring manager look, you need somebody that can hit the ground running right? Hr was put all these lofty ideals into the job requisition. You know we'd like it. If you had a Nobel peace prize would like it. If he had six PhD's, we'd like it if Yada Yada. Yada. In the hiring managers like look I promise the company that might division, my department, my group would produce X. and we're nowhere near there because we're down a man or two or three. Me and being a species not sex. And so. Hiring managers you need to reach out so I can put you in touch with talent. That makes sense for what you're trying to accomplish says making some sense.
Sales Leadership Tips With David Weiss
"Morning sales success community. This is a David Weiss coming at you with a tip of the day. This one is going to be a part of a series around three tips that I have for folks in sales leadership. So this is tip number one tip number one is. Your people. Don't work for you. You. Work, for your people I see a lot of sales, especially new sales leaders, puff their chest out and think that they're the big boss and I often see this when new leaders join an organization or or people take over a new team and they take a very, you know I need to establish myself at the top of the food chain. I need to be right I need to tell people what to do, and that is a very old school way of leadership. So an frankly I don't see at work anymore at all. I see disrupting teams causing high turnover and making people generally miserable. So I I could spend a long time unpacking that. Impact unpack the tip. Here's the tip. It is crater relationship where it is you. In your teammate. Against their quota so One on once we're not doing you know accountability one on once it's strategy. Let's look at an account. What are you doing? How are you getting deepen wide? How can I help? You get deepen wide how I take some executive context as the executive degrade executive alignment. How about you take these contacts? Let's you and I agree on messaging will let's share it. Let's work together on it, and then you know let's go both execute and then come back next week in and see how he'd. It's Hey, what are your priorities this week? What do you need for me? How can I help you? What internal roadblocks are refacing? What external roadblocks are facing? It is all about looking at them. And asking them how you can best serve them and what type of leadership they need from you. So the more you can work with your teammate. And Make It collaborative you in them together. As a single person against a goal as opposed to two people. Each working for their own end goals you for your leadership priorities in them for their sales priorities if you guys can come together. The results that you'll see will be dramatically better.
How to Navigate the World of High Risk Lending
"I everyone. This is dominic. Thanks for joining me. Today we're going to be talking about part of the credit and banking world that is often discussed but unfortunately, in the current crisis, it's becoming a reality for many. Today's topic is about high risk lending and how to deal with the predators that exist that very dangerous world. On the surface risk lending is just banking and investing. However. When you look closer, you will find that the players and rules have changed significantly from a typical business lending environment. Why have they changed? Well it's all about timing in the corporate landscape. During a crisis business owners are under a lot of pressure. They will try anything to save their company. The first place they start with cash, they look everywhere for it. Because without cash, a company cannot exist however in this desperate search, they can get swallowed up and crushed is they don't know who they are talking with. They think that they're talking with respectable and respectful lenders and investors, but that's not always possible. The current global economy is challenging for many industries. However, there is one group that has been waiting for a chaotic and fractured moment just like this. There are opportunistic and they can be lethal. While the economy was growing this group spent years amassing billions that they kept neatly piled on the sideline. They waited patiently for a recession, a crisis or a period of time just like this, where they could take advantage of week companies. This group consists of distress lenders and investors. Within this group, there are three primary categories that I describe as bears, sharks, and vultures. Let's start with the first abair. What's a bear? A bear someone that can cause you a lot of harm, but it's generally just interested in eating well. Your primary lender and some suppliers that extend you credit generally are bears. During good economic times they might be baby cubs but during difficult times, they grow big pause. They're not happy that you can't pay your bills on time. They may charge you a little bit more to borrow from them. And they may even tighten the rules on you. But. Usually they're not interested in closing down. They want you open. They want consistency. They want you to hit the numbers you projected and they want you to pay on time even if it's only a partial payment. They're just looking for something that's predictable. A bear will be your. STOIC friend. Unless of course, you become unpredictable. You stopped delivering on Promises Lash out at them or lighter them. If you do any one of those things the bear will bite you and whether you live or die. Depends only on the size of the bite. Sharks unlike a bear a shark doesn't care if you live or not. They principally care that they get their huge chunk of flesh from you. They will lend you money but it will cost you dearly. They often will lend against collateral that isn't secured by the primary lender. Sometimes, they will lend against the proof purchase orders, signed contracts and receivables. Other Times they may take collateral from your personal assets such as your home or other investments or savings. This group can include factoring lenders or other asset based lenders. Sometimes, they offered to bridge loans to get you through a particular period in time. There by bridging the? GAP OF CASH. No one really likes a shark. But you have to respect to shirk why? Because the giving you cash when no one else will. And they're taking a huge risk lending into a highly distress situation. You may not enjoy doing business with them but when in need. Their lifeline for your company. The third category in this world are vultures. Vultures there to pick the bones. In this moment of crisis euro may be strong. You believe that your company can make it through a rough patch, but the vulture knows otherwise. They know that you're already dead. A financial vulture is a highly experienced scavenger. Often the aware the appear wearing nice clothing using proper English presenting business school credentials in boasting about the exclusive group of investors in their hedge fund. From a distance, they may seem graceful close up you realize that there grossing noxious. A vulture two ways to approach you. First. They can lull you into a false sense of security passively agreeing with you that you can make it through the crisis.
US bans WeChat, TikTok from app stores, threatens shutdowns
"I A wrap up of the big economic stories of the week and let's just dive on in. Shall we on his Watson is with the New York Times Catherine Reimpell is at the Washington Post to. Hey There So. Let's actually start you heard at the top of this conversation about TIKTOK. And we chat what do we think are the potential ripple effects culturally economically and otherwise of something like this I'll start with that. I'm GonNa Picture Yeah of course of course I've been writing about this today. So this is the unprecedented ban on some really popular services in. So I think the potential ripple effects are really interesting. Know first of all these APPs will the government isn't going to go out police, people and make them delete the apps from their phones but these APPs will start to degrade for users here in the United States functionality will get weaker and you know so that will affect people of people's us There's questions about whether there will be Chinese retaliation at China already blocks of American services like twitter and facebook. But there are other things that the Chinese government could do to penalize American companies I think it raises questions that whether we'll see more bands like this on other Chinese companies, Alibaba. For example, and then Wesley just taking a big picture view we seem to be headed toward a situation in which what we think of as the global Internet is breaking down into a lot of different Internet's with different roles for the US for China for Europe and for a long time, we thought about the internet breath down borders, connecting people around the world. But actually now, it kind of seems to be fracturing both do the nationalism and security fears. Catherine I think that's you know. Moving on from just these two APPs in this conversation, this is this is a big precedent to set in some ways. It's the US government taking a stance very similar to the Chinese government, right? Saying these are the kinds of businesses that will be allowed to operate here. How does that send me look for the Global Economy Yeah Well there are a number of complications that could arise from this right I mean you have First Amendment legal challenges already arising here within the United States you have the risk of businesses not being able to conduct their normal operations, wherever they are, and so their businesses already complained obviously about having to deal with different regulatory regimes Once they cross borders even if they are a company that digital. Company. For example, that does not operate strictly within the fiscal borders of any one country this is this is going to complicate their lives much more. And you could imagine that is on points out there could be further retaliation that just adds even more uncertainty for businesses as they're trying to. figure out how to operate within China within the United States stay on the right side of the law avoid offending. Any minder as it might turn him. I mean that said on a are these concerns real even if the data collection part is overblown it, there's no question that we chat and take talk in some ways. Can represent the viewpoint. Of the Chinese. Government. Right. Yeah I think when it comes to data collection you know cybersecurity experts, kind of debating how much of a risk there is i. mean. It certainly does could give the Chinese government access to some data and Chinese laws require that you know Chinese individuals Chinese companies submit that data to the Chinese government if asked. So part of the issue is a Chinese laws on that subject but there a lot of mobile services that collect a lot of data you know about Americans. That we haven't maybe thought about systematically the other argue the other argument here though is about the Chinese. Government's ability to censor put out propaganda and I think when you look at, we had it is clear that it is a conduit for for censorship in for propaganda it's also vitally important a communication system for the global Chinese diaspora but the Chinese government definitely has a say in shaping what reality like on that platform.
Trump Announces $13 Billion in Additional Coronavirus Aid To Farmers
"Starting next week, my administration is committing an additional thirteen billion in relief to help farmers recover from the China. Virus. President, trump announced at a campaign rally in Wisconsin. The new aid is the second tranche of money issued as part of the trump administration's corona virus food assistance program in April. The administration unveiled nineteen billion in relief for the agriculture sector under the cares act including sixteen billion in direct payments to farmers and ranchers and three billion in mass purchases of dairy meat and produce.
Ericsson drops $1.1 billion on enterprise connectivity provider Cradlepoint
"Giant Erickson is buying cradle point to US company that sells routers and wireless networking at Cisco Systems competitors. The deal is worth more than a billion dollars. Erickson reported stronger than expected business in the summer. Border, helped by demand for its products for five G networks and also its software business ups is
Kraken Cryptocurrency Exchange Gets US Banking License, Plans to Be Global Bank
"Today's guest is David. Kennedy CEO of Crack Financial Welcome David. Hey. Thanks for having me on. Laura. On Wednesday and cracking announced that it was the first crypto currency exchange to win approval to launch a bank congratulations. Thank you. It's a big day for US sister Yup. Well, we'll crack and financial the new subsidiary being launched be able to do with this status. Yeah so there's a couple of. Objectives that crack in launching this. The first one three well, the first one is regulatory. Look. We're going to be in a much better regulatory position here as a bank in a consolidated fashion without having to go state by state and the money transmitter regime or something like that now. We're also going to be as a bank to conduct certain activities that we wouldn't otherwise be able to such as serving as good control location for custody. The second reason we're pursuing this as because of infrastructure, the bottom line is the digital asset industry has challenges getting good banking partners. Now, Kraken is fortunate enough to have very solid third party banking relationships, but the fact of the matter is it's still very important for. US to get direct access the federal payment system and be able to integrate that seamlessly into our customer products and experiences. Now, the third reason is this an entirely new product and distribution platform. Again, we can offer products that we would otherwise be able to as a non bank and serve customers at such as institutions that we wouldn't otherwise be able to search. So for those three reasons crack and found this very attractive. and. So from the consumer's and or from a crypto users and what will the new crack and financial mean for them like what will they be able to do that? They couldn't do before? So for existing customers of crack at first, they won't motorist too big of a deal. They'll be regulatory update on the back end of how we're interacting with the different agencies in the US. But then we do expect them to see certain quality improvements like I mentioned before we are going to have direct access to the federal system and able to more seamlessly integrate funding and withdrawal mechanisms and payment mechanisms into our products, and so they should see an increase in quality of customer experience and perhaps a. Cost benefit as well, and then the really see the difference once we start launching products, things like a debit cards backed by digital assets, things like staking things like IRA accounts or other tax advantaged accounts things like a wealth management investment product services. The list goes on and they'll see that institutional customers roles is the big difference because we'll be able to offer qualified custody and other similar services and qualified custody would mean like for hedge funder something where they're doing that on account of accredited investors there. Last craft, and then also there's the separate but related notion of serving as a good control location for broker dealers for clearing purposes. And what kind of CRYPTO assets will cracking financial be able to hold for its customers in? Do you expect to approve those one by one or does it as I'm sure you're well aware I doesn't have to stay away from assets that may be considered securities, which has been a major concern in the industry over the past few years. Yeah. So I think it would look a little bit similar to how at first how cracking does it today which goes on has a framework and risk assessment process to go through different types of assets that are supported by it services. And as we move to the bank that would initially stay the same that said there's a possibility that we could expand that last because a bank can actually deal insecurities and commodities unlike a money transmitter or something like that. So even to the extent that there is a risk of a particular asset being deemed a security were still able to support it as a bank. So. What would you? How would you say that that would combine with this current trend? We're seeing in defy where these new tokens get launched very quickly and very very quickly become a huge market cap coins and we are seeing other exchanges such as coin base launch, a list, some of these quite soon after their formed would we expect something similar from crack and financial? I. Think it's a we'll have to see how that plays opposite new trend and the bank is just for me. I think there's two ways to look at it. One is what's going to be occurring on the track exchange and obviously that operates globally and so it's at the craft exchange level or at the and financial level and then in what jurisdiction and so obviously there's different laws and regulations and others similar dish last exchanges do the same thing. It's available in some jurisdictions and not on. So yeah, we would love to be offering things and assets as they come out as quickly as possible to the extent that they are reasonable and suitable for our customer needs obviously customer protection and the safety and soundness of our institution are absolutely paramount.
Ford to build electric truck plant in Michigan, add 300 jobs
"Is expected to add 300 new jobs in Michigan as the company sets its sights on electric Ford F 1 50 pickup, the $700 million plant being built on Ford's historic Rouge complex right next to the facility that makes the current F 1 50 incoming CEO. Jim Farley says the electric pick up We'll have more capabilities and the gasoline model. It is a workhorse. It's not a show horse. It's for serious truck owners. Ford will start building the electric F 1 50 in a bound two
Ford to build electric truck plant in Michigan, add 300 jobs
"Side, Ford says it will add 300 jobs at a new factory that's being built to make batteries and an electric version of the uber popular F 1 50 pickup truck. That plant is being built in Dearborn, Michigan auto maker says the new truck will go on sale in mid 2022 Brennan Hazleton w T o P.
Should You Offer Chat Support in Your Business?
"Like I mentioned that the top of the episode chat support is a great solution. We've been doing chat support under Ninja for over four years. Now we offer twenty, four, seven life support, and it's one of the hallmarks of our company. It's one of the big reasons why our customers stay customers and the reason people choose us over our competitors but there was a lot of work that needed to be done before we were ready to offer chat support. There's some foundational work you need to do and things you need to consider before you make that switch. It's also important to understand that once you offer chat support. It's one of those things that you want to offer it. It's really hard for you not to offer it again. So once people get used to a certain level of support, you might start with email. Then you'll at chat support if things are not going right or you didn't set yourself up properly and then you remove chat support this disgruntled some customers and really can affect their experience and mega make him feel really took something away from them that they're used to maybe enjoyed. So there are a few things I want to highlight that will help you get prepared to launch chance support in your business the right way. First of all, why would you want to offer chat support in the first place? Why don't you just stick to email more and more every single day every single month every single year chat support is becoming the new phone support. Prefer to chat. Now, text than to get on a phone call it's often faster to solve a problem get questions answered through chat suppor- think about it most people don't make phone calls or take phone calls or get phone calls that often but they sent a lot of text messages and facebook messages and what's happened all that stuff. It's a way for you to go back and forth with your customer live and get them a win in that moment in the moment, they reach you the moment they visit your website allows them to make a decision quickly rather than the hit your website, and then they're like, oh, I, have a couple questions. Let me see if they have. An e mail or contact form and most people don't even go that far they're just leave the website and check out a competitor. But if you have chat support allows them to say hey, I got a quick question. Let me just ask right now there's somebody right there and that question could be very simple. It can be somebody overlooked it could be something that's on your website or on your your sales pages, and the answer that question could make them feel confident enough to make a purchase right then and there it's also a huge benefit a huge benefit for your customers that already paying you. They feel like you always have their back and you're just one message away. And flat out chat support is just fun. You can send him Ho- Jeez and Jeff's funny images, and you can really express your brand and your style through Chad. The email really doesn't do as well. A lot of our branding is done through chance support a lot of our customers become customers because we're like everything like your style on chat your team really made me feel comfortable and welcomed in a professional yet casual way. So what are some of the things that you need to consider before you say Yep, let me go ahead and go chat support. The first thing I want to say to you is a Lotta people think okay. What software do I need to chat with? You know there's a lot of chat software out there whether it's intercom. Or. Fresh desk or Zen desk or help scout there's so many out there. Right and all the offers are pretty much assume depends on your needs not gonNa really get into that right now that's the easy part. But what are the things you need to consider is your customer base where is your customer base? Do you serve only a national market the covers maybe A. Few time zones or your customers international around the world. If that's the case you need to make sure you're able to offer your chat support twenty, four seven throughout the day. So you can cover the entire globe that means having at least three people on chat or on your customer support team. Each of them have an eight hour shift. Now, some people they start with five. It is week of chat versus seven days a week, and that's a good way to get into the game. But if your customers are global, you need to consider the fact that you can't just offer chat certain hours of the day. Those hours could just be in the middle of the night for somebody else and it's just really not a benefit at all you also. Have to take a look at if you have the manpower, the staff to be able to handle the amount of chats are getting. Now if you're on email support right now, this is not a good measure. Why? Because email support takes a little bit effort for the customer to actually send an email they'll probably go through a few other hoops or maybe how the tutorials or Do, a little bit of Reading for trying to figure it out themselves before they email, and this is while I will start with mail because it lowers the number of support requests but also drastically lowers the number of presell emails or chats or you'll messages. So as soon as you offer chat on your website, it's Gong to invite more conversation. That's a good thing because you're. Getting in touch with their customers and you're making connections, but it's also something you need to consider because if you were getting, let's say a hundred emails a day in email support. That's no indication of how many messages are going to get in chat because that's really going to open up the floodgates because now it's easily accessible. People can easily chat with you and send a message. It's not always easy to predict, but the traffic to your website is really a good indicator forgetting getting over one hundred thousand visitors to your website. You're going to have a good amount of those people chatting with you asking questions out say ten percent is a good measure at least ten percent people are going to reach out and ask questions especially, if you prompt them to ask questions, which is really cool. You noon chant. Throwing the pricing you can ask, Hey, you got any questions about pricing or choosing the right plan for yourself chataway with us. If you think about that, if you have if you have one hundred, thousand visitors every month that means ten thousand people chat with you every month now you might think that's a law is a lot and it's better free to over estimate and be ready for the traffic.
Snowflake's stock enjoys red-hot open, with first trade more than double the IPO price
"What a day to be a snowflake Red hot open for snowflake there first trade with more than double the AIPO prices is a cloud based software company. Other backed by Berkshire Hathaway. They're backed by sales for so this one has been in the works for a while, but it was a very successful AIPO the stock up 112%. On the day so strong start for
Should I ask my dad to invest in my business?
"Survey S Should I get my dad to invest in my business or should I ask him to invest my business? I say, I like to point out that it's good that you actually say invest. An investment means he's going to get a percentage of the company in return for the twenty thousand dollars you're looking for. And this is not a loan. This is not like loan me twenty grand and I'll pay you back. Your father will be a part of the company, Meaning Hill own part of it. It may not be a controlling stake, but he will own a good portion of it. especially the fact that you haven't started your company really doesn't have much value because. You don't have anything to show yet because you haven't sold the APP, you have made money from customers been made. Any revenue has showed any kind of traction to say, Hey, this company is worth X. amount of dollars right now is just the hopes that the just purely on the concept and the idea that you actually give him a return on investment. So the first thing I want to say that if you're going to approach her dad for investment, you have to seem as an investor and not your dad, which means you getting to present him the business just like you see presenting on shark tank right and what does the first thing they ask on shark tank all The sharks to ask the same question. Every time somebody does a presentation to go through the whole presentation things like that. The first question they ask is how many units have you sold? How many sales have you made a money Jimmy revenue they want to know do people actually want while you're selling the market value this product because the investor that's all they really care about this. This thing have legs have the potential to grow. Their opinion really doesn't matter. It's the market's opinion that matters. So you're not in that position right now where you can actually give numbers and proved that people want what you have, and that means you need to give up more equity to get the money. So think about the value of your company right now it doesn't really have much value because you're not selling anything you know have nothing in your hands it you don't have anything created, but what will it be in the future If it somewhat successful, it's really hard for you to tell because you don't have any data. But even if you say in two years, the company is going to be worth one, hundred, thousand dollars. In order for an investor to want to make money, they're to want to at least double their money. Okay. That means they won't forty thousand dollars in return for their investment of twenty thousand dollars. That means they're going to at least forty percent of the company. If you're uncomfortable with all of this, then my advice us a try to bootstrap your business much as possible you some of your savings grow as you can think of the minimal viable version of your APPs. You can get idea validation for a skin product market fit get some customers. Make some revenue see this has legs first before you actually try to raise capital because it's a lot easier to raise the money. When you have a working product when you have sales when you have customers, we can say, hey, people like this you know and it's making money and here my projections. But right now you don't have any of that data. So. If you're willing to part with, you know a big percentage of your company. Then go ahead and get an investment from your father and doesn't matter if your father anybody else that is an option if you're willing to part ways with that large chunk of percentage whatever that is if you still feel like you, WanNa bootstrap you WANNA raise some. Money try to see if you really need twenty grand how much is the bare minimum you need to star this thing to have it off the ground maybe it's not twenty maybe it's ten years, five thousand dollars and five thousand dollars can be earned right. You can actually hold off on launching this product and save five grand after a few months. Of living a little frugally. If you absolutely have to take alone five thousand dollars is a whole lot better than twenty in terms of what you're gonNA pay an interest. But if you do want approach your father and you feel like you'd like to have a part of the business. There's nothing wrong with mixing family with business as long as it's clear expectations are what everybody's getting in the deal. You don't want any sour grapes later on, you want people to feel like that. They got what they asked for what they they knew they were getting into. This is why it's important for you to be open and honest with your dad if you're going to approach him and as well as pitched to him as if he was an investor, you have to convince him that your product. Your APP actually has the potential with any data you can gather even if it surveys even if it's a market research, even if it's just simple as. Hey My APP is in this market and the potential in this market is X. amount of dollars of revenue year is how big the pie is, how much money that can be made who are the big players in that market who your competitors and how you going to compete with them. These are some things that you can really explore and display and present to anybody who's interested in investing, including your father and all this time wasted you're actually investing. Some, really good time and learning a whole lot about the market. You're about to enter
Verizon to buy prepaid phone seller Tracfone for $7B
"Billion billion for for track track phone, phone, the the country's country's biggest biggest cellphone cellphone service service reseller reseller that's that's phone phone industry industry speak speak for for those those monthly monthly prepaid prepaid plans. plans. Marketplaces Kristen Schwab looks at why a contract king like Verizon might want to expand into the contract. Less phone business. People who use a prepaid month to month phone plan are usually people who are living month to month. Angela See for directs the national digital inclusion Alliance having a prepaid phone. It means that you control what the charges are are and and when when the the charges charges are are maybe maybe your your credit credit history history means means you you don't don't qualify qualify for for a a traditional traditional contract contract plan. plan. Or Or you you can't can't afford afford your your plan plan one one month month So So you you downgrade downgrade With With a a track track phone. phone. Prepaid Prepaid plan $15 a month gets you 500 minutes 500 tax and 500 megabytes of data and you, Khun Top off your minutes at a retailer like Walmart or best buy. It's a huge market on in this recession we can on Ly assume that the market would increase. When you see higher unemployment levels when the economy takes a dip, there's often a shift more towards prepaid Brandt. I adore Ola at Frost and Sullivan says prepaid phone plans make up almost 20% of the U. S market. And Verizon is taking about this number will grow fast faster than the time it would take to bolster its own prepaid service. Because why spend money on a makeover if you could just buy Trac phones, 21 million customers. Is kind of the faster equate the gains and significant share on the pre stateside and this deal isn't just a pandemic grab. It's a purposeful expansion. Ever since the market was boiled down to three major providers, Verizon T Mobile and AT and T these companies have had to become everything to everyone. Terry Kramer directs the Eastern Technology Management Center at The carriers there having a look at other ways to grow. The deal still needs approval from antitrust and telecom regulators. But Kramer says, it'll probably go through because unlike the T Mobile in Sprint merger that happened earlier this year, prison and track phone can argue there in complementary, not competing markets. I'm Kristen Schwab for Marketplace on Wall Street
How to work with your SDRs
"Morning everyone out there in the sales success community this is a David Weiss coming at you with a tip of the day. So this tip is about working with in how you treat your SDR. So for all your as out there. That are lucky enough to have. SDR's I have a handful that support me. I'll tell you right now. It's probably the hardest job in sales right now is booking new meanings. So I see a lot of folks and by the way outreach does a really really good job of this. But I do see and I do hear from other organizations that a don't necessarily respect the. That they may be talked down to them that they may be not in lean into them that they maybe don't spend lots of time with them and what I'll tell you is. It's just a it's huge miss since I've been at outreach, I would say my Sdr even though I am doing a healthy amount of prospecting are setting the vast majority of my meetings and I am having a little bit more luck with my str's than maybe some others and the reason for that is I really really take time to strategize with them I see in SDR. Relationship is it's me and them against an account and we are a team working together. So that means we pick target accounts together. That means we pick the contact strategy together. I contacts they find contacts we agree on who we agree on messaging we agree on when we assign each other tasks. So when I wanNA call task done on a suite person at I've followed up a few times, they'll reach out and call them while I'm GonNa meet it if they need my help coming over the top of an email that they sent or as a follow up almost like kind of in. A little bit of an executive sponsor type play from call that they made or conversation they had they assign Mia task and I come over the top on them. Now, all of these things are really done using are really easy to do using a a solution like outreach but if you don't have it, it just requires communication. So that's one thing. The other thing is you need to celebrate the hell out of them. For me. Anytime SDR books are meeting for me. I treated as if I just closed a big deal, literally the the announcement, the jumping up and down the high fives the thank yous depreciation, all of that every time they boca meeting for me. So when they book a meeting for me, I send to my boss I, sent a note to their boss I joined a teen, their team meeting in recognize those people and I'm recognizing quite a few people often. So I do those things and then guess what they want to work harder for me because I recognize them and I work with them and I truly do care about them potentially more than some others do and. SDR's are going to spend time where they loved just like we spend time where we got love I mean it's totally natural. The last thing is if you have the ability to run contest the ability to Gamma Phi or make their job fun, they have the hardest job in sales right now, if you have a way to help them, you know they make it fun. Do those things as just a pure ratio number for you what I've seen in the marketplace and from personal experience is that it's taking essentially two hundred calls to set one meeting. So just think about that every time SDR set a meeting for you. They made two hundred phone calls thinking about all the work impressed in rejection that went into that. That's what they're doing for you while you're doing other. Thanks. So folks appreciate the hell out of them. They deserve it. They're awesome. In, you will get more for it in you will have better relationships with them for a and we all win them.
Fast Food Giants are Reinventing the Restaurant, Pandemic Style
"Not so long ago fast food restaurants were looking for ways to get you to stay a little longer they sprucing up their dining rooms and building ball pits for the kids after all the more time at your table the more likely you are to order another menu item or two, but dining in is so two thousand nineteen isn't it? Now thanks in part to the pandemic, these quick service eateries or redesigning their restaurants to get you in and out as fast as possible. Burger, King has just unveiled its pandemic inspired restaurants of the future. There are two concepts, both of which maximize social distance. The smaller of the two designs has no dining room at all. Instead, the would-be dining space is used for additional drive through lanes two lanes to be exact. Once your order is ready, a conveyor belt will deliver it to your car window. Of course, if you're craving more human contact, you can also go old school and walk up to an order window. The second concept is a t shaped two storey restaurant with the kitchen. Upstairs this, let's Burger King devote more real estate to park in order spots in various drive-thru options the companies. Also, experimenting with lockers where you can pick up your food, you get the locker number and a unique combination when you order on the APP, the idea is to make the experience as contact free as possible, and that's important to customers drive throughs and meal delivery services like Rub and eats have been a lifeline for burger king as indoor dining was banned or restricted during a large part of the pandemic CNN reports in the second quarter through sales made up eighty five percent of the company's total US sales. Burger King says it will be testing. It's new concepts in warm climate areas like Florida, and the Caribbean but no word on exactly when that will start. Another major fast-food player that's also trying to get you out of its restaurants quickly is Taco Bell. TACO Bell so-called go mobile locations have been in development for a few years but the pandemic accelerated plans for them according to nation's restaurant news. These locations are smaller because like Burger kings, restaurants of the future. They also eliminate dining space also liked burger king concept. You can place or on the TACO BELL APP and have your meal brought out to you by a bellhop get the company will begin opening new stores early next year the design is a far cry from the one that the TACO giant unveiled in early March, a gaming concept restaurant plan to test in California customers would. be able to play video games in addition to dining and in January burger king announced plans to make gets dining experience a little posher the king plan to make over a Saint Louis location with white subway tiles on the floor bench seats inspired by classic cadillacs and warm lighting retail wire reported. You might be munching on your fries, but you'd be doing it in style. Now, a combination of pandemic dining restrictions and changing customer behavior has made such concepts as Cadillac benches obsolete. Well, it was fun while it lasted, but it's time to say so long to indoor play grounds and Walker inspired light fixtures for the time being at least fast food customers are opting out of dining in. Choosing the biddle dashboard diner in Stan.
Sales Creativity Wins The Day!
"You're listening to the daily sales tips podcast and I'm your host Scott Ingram I've been thinking a lot about how important creativity is in sales lately, sexually Eddie buyers who initially got me thinking about this almost a year ago I was in New York City for a couple of client onsite meetings. You know back in the day when that was thing when we used to travel and get drinks together anyway Eddie is a consummate reader and a true student of. Sales. In fact, you can listen to our conversation together in episode seventy, nine of the sales success stories podcast. But as a fan of that show, he pointed out that many of the top performers I've interviewed are super creative think about it. How often do you get challenged in a sales process or have to find a different and unique way to break through with your prospecting because just doing more isn't going to be enough to get you where you WANNA be. I had some great sales leaders early in my sales career who taught me that you're GonNa hear? No probably a few times as you're working through an opportunity, they even suggested that a deal wasn't really real until you'd heard no at least once it's those knows they get you closer to what's really going on. It's your opportunity to go deeper ask more questions and get to the truth once you understand that then you get to be creative, you overcome those issues and perceived obstacles. How do you re engage the deal that's gone dark? How do you differentiate yourself and your offering to out shine your competitors all about creativity sales is rarely mechanical. Does it follow the same script? And the same process every time it's more like jazz, there's a lot of improvisation and creativity and it works best if you apply your own unique style and put a personal touch on things lately, I've run into a whole heap of different challenges and issues. But each time I've been able to take a breath think it through get creative and collaborate with my team and ultimately come up with something that was even better because of the challenge, and this is certainly true in a micro sense when it comes to a specific deal or a particular prospecting effort but it's also true in a very macro sense right now things are different. We're still not traveling and going to see. Our customers face to face and getting them all together in a room together to share our vision or create that vision together. So we have to be more broadly creative as well. What's relevant now, what's going to break through the noise and get people to act to make a change transform it all comes down to your creativity. You might get inspired by examples in the stories of plays other people have run, but it's up to you to find your own way through but we don't talk about this and think about this enough. We don't take the time to think I'm pretty sure that's actually one of the books that Eddie pulled out of his bag as we had that. Drink together, he pulls out this rather tattered very well read copy of Napoleon Hill's think rich. It's as simple as that. You have to take the time to think also call on the title of another book that have actually read, but I think the title pretty much says it all and that's Ryan holidays. The obstacle is the way you can't run away and hide from the obstacles and the challenges you've got to face them. You've got to think about them and then figure out if you're going to just run straight at it or maybe you go around it or over it or under it. But as the subtitle of that book suggests there's an art interning trials into triumph. Appreciate the stress lean into the pressure and the things that are in your way. That's where the real growth comes from. If you want to grow stronger, you don't get there by lifting lightweights you get there from putting stress on the system by breaking down your muscles so that they'll repair, adapt and grow. You don't get faster by running slow. You've got to push yourself to go harder than you probably want to go so that you get that training response that you're after