Your Most Valuable Asset

What is your most valuable asset? According to Dr. Theodore Leavitt, Dean of the Harvard Business School, the most valuable asset that a company has is its reputation. Dr. Leavitt defines reputation as “How you are known to your customers”. In marketing and business, we refer to this as your “positioning” or “brand.” Your reputation is determined by the way that your customers and prospective customers talk about your company in the marketplace. When we work with business owners and executives, we ask the question, “How would it be helpful or useful for people to talk about your company?” In other words, if you could be a fly on the wall and listen to one of your customers talk to… Read more

Dealing With Jet Lag

Each year I fly all over the world to speak and conduct seminars. I fly east to Britain, Europe and Russia, often crossing eight, nine and even thirteen time zones from San Diego to my destination. I fly west to Australia, South East Asia and India, often crossing as many as twelve time zones before returning to San Diego. But I never have jet lag. The Facts About Jet Lag Medical researchers have studied jet lag for many years. They have concluded that because of the long distances traveled in pressurized aircraft, combined with the complete time change that the body goes through on long trips, the human system becomes disoriented and inefficient. Without taking the proper steps, it requires approximately one day to recover from each… Read more

Evaluating A Business

The best time to do your market research is in advance. Here are some key ideas to help you make the right choice before you invest in a product, a service or a business. Bootstrap Your Way To Success One of the best ways to build a business is to start off on a bootstrap. This means that you start off with very little mo ney and you grow your business with the mo ney that you ear n in the business, rather than outside financing, borr owing, l oans from friends and so on. Ask The Right Questions The first thing to do is to research all competitors for the product or service and ask this: “Why would someone… Read more

Seven Formulas for Business Success

Visualize Your Goals There are seven formulas for business success. Number one, set a specific goal and visualize it as a reality. Play the picture of your goal as already realized on the screen of your mind over and over again. Number two, look for a problem you can solve with a product or service that is high quality and good value. All successful businesses are based on products or services that are high quality and good value. Number three, start small and learn your business thoroughly. Be patient. Invest time rather than a lot of money. Bootstrap Your Way to SuccessOne of the best ways to build a business is to start off on a bootstrap. This means that… Read more

Increase Your Income 1000%

Imagine that it’s possible for you to earn 10 times your current annual wage. If you’re earning $25,000, imagine for a moment that it’s possible for you to earn $250,000, a 1,000 percent increase. Believe in Yourself The first reaction of most people to that exercise is to smile briefly and then to begin thinking about why it isn’t possible. One man said to me, “If you knew how many years it’s taken for me to get to what I’m earning today you wouldn’t be suggesting that I could earn 10 times as much.” There Are No Excuses Mark Twain once wrote that there are a thousand excuses for every failure but never a good reason. The tragedy of the… Read more

Two Quick Techniques For Market Research

Do Your Homework How do you do fast, cheap market research? How do you find out whether or not the product will sell before you get into it? Before embarking on any new business venture, considerable time must be spent in research. Your payoff will be in excess of ten to one in time and money saved or earned. For every dollar, for every hour that you put into research, you’re going to save ten or twenty or thirty dollars or hours later on. So here’s what you do. Check Every Detail Number one is find out every detail of the product or business. Study it carefully. There is a story about Walter Chrysler, who formed Chrysler Corporation. What he… Read more

The Invitational Close

The Invitational Close is simple, low-key, classy and powerful. You use it at the end of a sales conversation to conclude the transaction. It is preceded by a Trial Close such as: “Mr. Prospect, do you have any questions or concerns that I haven’t covered up to now?” Or, “Mr. Prospect, does this make sense to you, so far?” Probe for Lingering Objections You ask these questions to be doubly sure that the prospect has no final objections lurking in the back of his mind that would block the closing of the sales process. You then invite the customer to make a buying decision by saying, “If you like what I’ve shown you, why don’t you give it a try?”… Read more

The Road Ahead

“Building an America where freedom, opportunity, prosperity and civil society flourish.�? Last week, Barbara and I flew up to Vancouver to meet with Ib Muller and drive to the Whistler Ski Resort, two hours north of Vancouver. We skied for most of Saturday and Sunday, had dinner in a wonderful restaurant Saturday night, and stayed at the Fairmont Hotel at the Vancouver Airport Sunday night prior to our return flight on Monday morning to San Diego. On Tuesday, we boarded our flight to Atlanta for a four day meeting of the Heritage Foundation at the Four Seasons Hotel in Downtown Atlanta. The Heritage Foundation is the “800 pound Gorilla” of conservative think tanks in the world today. It started as… Read more

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