Tuesday, July 19, 2016

7 Signs of a Bad Customer by Eric Holtzclaw

7 Signs of a Bad Customer

It's important to recognize the customers that will cause you the most problems.

Over my many years of selling to and servicing customers small and large, I have identified patterns in customer behavior that indicate they will be more difficult to work with than you bargained. 
7 such signs include:
1 - Won't Sign a Contract
Contracts are in place to protect both parties. Be wary of a customer who wants to start a project or make a purchase without signing some type of agreement.  
You can't rent a hotel room or purchase a bar of soap with your credit card without signing - why should your relationship with your customers be any different?
2 - Push Your Schedule
You know how long it takes to get your product or your service delivered. A customer that waits until the last minute to engage you is not prepared and will often try to push your schedule. 
Even if you share the negative impacts of doing so, I find that few of these customers remember. Rushing only creates problems and disagreements later.
3 - Talk About Another Vendor
Be wary of the customer that continues to reference another vendor they worked with that provides a similar service - especially if they tell you how much they like their work. You need to find out why they aren't working together any longer. This sign is often an indicator of problems with payments or unstated expectations and can be a harbinger for issues you will have later in your relationship.
A trick Dan Jourdan shared on my show is "Ask your customer what they like about their current provider".  He shares that human nature will naturally make them tell you what they don't like.
4 - Say "Well, You Are the Expert"
True they have hired you for your expertise, but this phrase is used to shirk their responsibility and is often followed with "but this is how I would do it" or complete withdrawal from participating in the work at hand.
Be sure to get a clear understanding of their concerns and agree to a move forward plan to avoid this trap.
5 -Refuse a Standing Meeting
A customer that refuses a standing meeting is establishing the ability to say at a future time "I don't know what's going on".  It's a similar excuse to "You are the expert".
I recently decided to part ways with a long-term customer because I broke this very rule.  My team was doing a great job, but the lack of participation from the client led to a misunderstanding and an irreparable break down in the relationship.

And most importantly:
7 - Your Gut Tells You No
Always trust your gut - in hiring employees, to the direction of your company, to the feeling you get when you first meet with a customer.   If it doesn't feel right, then don't do it.  Whether selling a customer a service or a product, think down the road to how the relationship will end.  Will the end result help you and your company achieve the success you crave?
BONUS TIP:
Ask for a Discount - Just this One Time.
In my experience, not all customers that get a discount will end up being a bad fit, but it is very difficult, if not impossible, to move a customer to a different price once you have provided that initial discount.  This is a classic ask from your sales team to "sign that big customer".

Saturday, July 9, 2016

3 Simple Ways To Make Better Business Decisions by Joel Roberts

Business owners and managers always rely on making the right decisions, in terms of following trends and bringing innovative ways to make their business more successful.
But dealing with the process of making decisions and making the right choices, with risks of failure and success factors on the way, is seldom an easy task. Many professionals have problems connected to insecurity and not enough intel to deem confidence and take properly balanced risks when coming up with a decision.
While no one can establish a clear view on the definite outcomes of a decision, one must think ahead in terms of considering the possible ones, and make a quality risk assessments before implementing any decisions.
Decision making guidance serves a linear process compiled of few stages, among which the basic steps are:
  1. Identify the problem
  2. Generate alternative solutions
  3. Evaluate and choose among alternative solutions
  4. Implement and monitor the chosen solution
But if you consider the decision making process as a linear one, you cannot just stop at the steps above and wonder how to go through with each, without considering a methodology for the decision making.
Here are three simple methods that can provide you with guidance when making a decision:

1. Make a pros and cons sheet

The first way to go through the decision making and elaborate alternatives and outcomes is through the use of a balance sheet. This technique is very useful in problem solving, and I guess decision making and problem solving are interconnected, as they both need to reach an outcome.
What you do is take a simple pen and paper, and draw a line on the middle, making one side free for pros and other for cons. You elaborate why a certain alternative is better or has smaller risks, in comparison to the others, for which you have also made assumptions about. This balance sheet method is a very practical one, and relies on documenting facts and assumptions, and though it may seem too subjective, is a valuable method to support the decision making process.
“As a bull market turns into a bear market, the new pros turn into optimists, hoping and praying the bear market will become a bull and save them. But as the market remains bearish, the optimists become pessimists, quit the profession, and return to their day jobs. This is when the real professional investors re-enter the market.” – Robert Kiyosaki

2. Use the technique six thinking hats

Another decision making methodology is the use of a very stimulating technique, that is called Six Thinking Hats. You can see the more visual interpretation of its description in the mind map below.
The six thinking hats technique, encompasses a way to introduce six ways to look at things: facts, feelings, process, creativity, benefits and cautions, and they are all represented by six different colors for a more stimulating effect.
While “wearing” each hat, the person looks at the decision from different perspectives, giving a variety in the choosing, but a way to stimulate the risk assessment and the scores of possible outcomes.
The white hat is the objective view on the situation and relies only on facts, data and figures, without considering subjective thinking or emotions. The blue hat signifies control of the process and is used to manage the thinking process by observing guidelines of the process.
The red hat marks feelings and relies on intuition, and places emotions without explanation. The green hat is focused on creativity and freshness of ideas and induces lateral thinking. The yellow hat symbolizes the optimistic side of looking onto outcomes and explores the positive values and benefits of the situation. The black hat is the critical thinking hat where the risks and negative sides are being considered.



3. Mind mapping

I am a fan of new concepts and frequently incorporate another famous technique into the decision making process, called mind mapping.
Mind mapping is a visual technique to organize ideas and information. The product of mind mapping is called a mind map and is nothing else that a specific diagram, representing a central topic branching out to subtopics that elaborate the central subject, in this case a problem or a decision to be made. This tool is used to generate, visualize and structure ideas and aids decision making and problem solving, by being able to see the big picture.
“Many think of memory as rote learning, a linear stuffing of the brain with facts, where understanding is irrelevant. When you teach it properly, with imagination and association, understanding becomes a part of it.” – Tony Buzan
Since we cannot surmise all advices or tips to take into account when delivering any decision, or when you go through the decision making process, but you can take into account some of the following:
  • Make sure you are sufficiently informed and put aside any conflicts of interest;
  • Value information and document it in any form as evidence;
  • Take account of all relevant factors and ignore any irrelevant ones;
  • Always think through actions that are within your powers and try to act upon them;
  • And last but not least – make decisions that are within your range.
How do you make important decisions? Please leave your thoughts in the comment section below!

30 Clever Ways to Make Money Online

30 Clever Ways to Make Money Online

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Tay Jnr—Getty Images

Consider selling your original Instagrams, becoming a virtual assistant or providing online tutoring.

Who doesn’t want to earn more money? Whether it’s through part-time jobs or freelance work, adding more dollars to your cash flow every month is always nice. But unfortunately, not everyone has the time to pick up another job or do additional work on the side. If that’s the case for you, don’t give up. Instead, turn to the one thing you probably spend a majority of your time on: the internet.
There are dozens of ways to make money online, from selling unwanted items to promoting products on Instagram or Facebook. Click through to discover 30 unique and easy ways you can earn money on online.

1. Get Paid to Take Surveys

Do you enjoy taking surveys? Some companies will pay people to take surveys so that they can gather valuable consumer and user data. It might not be the most interesting way to make a buck, but you can find websites like CashbackResearch.com that offer cash for your opinions.

2. Create a Winning Blog

Writing entertaining, interesting blog posts can generate cash for you through ads, affiliate links and other revenue options. Your blogging success will depend on your writing talent, whether your blog covers a popular subject and the popularity of the links you include (whether backlinks or pay-per-click links, like Google AdWords).

3. Sell Your Stuff on eBay or a Similar Outlet

The dramatic growth and success of eBay has spawned many competitors featuring auctions or online marketplaces for diverse items. Whether you want to clean out your closet and sell your designer clothing online, or develop a high-volume online store, you can make extra money or big dollars on sites such as Amazon.com, Etsy.com and more.

4. Sign Up for Amazon Mechanical Turk

You probably won’t get rich completing typical tasks for the “Turk,” but you can make extra income if you are willing to perform simple tasks for clients.

5. Sell Older Electronics

Do you have a compute, laptop or cellphone you no longer use? These and other tech items, although built with former generation features, often have value to others.

6. List Household Items on Craigslist

Free to join and devoid of listing or selling fees, Craigslist sales can be local or national. From kitchenware to baby furniture to jobs, you can list almost anything for sale on this site.

7. Self-Publish Kindle Digital Books

If you love to write and believe you can write an entertaining fiction or non-fiction book, consider authoring and publishing a digital book through Amazon’s Kindle Direct Publishing platform.

8. Create Niche Websites Featuring Google AdSense Ads

Creating popular niche sites can grab visitors looking for specialized information, and adding Google AdSense advertising links can be a great way to monetize the site.

9. Upload YouTube Videos and Get Paid for Ad Views

You don’t need to invest in expensive video equipment. Just learn how to use your smartphone’s video capability to upload entertaining or informative videos, and opt to have ads play before your videos to get a bit of cash for each video view. YouTube star PewDiePie earned a total of $7.4 million in revenue, according to multiple media reports.

10. Design Useful Apps for Mobile Devices

If you design a wildly popular app (which is harder than it sounds), you might be pleasantly surprised with the income they generate. Offering one or more apps at the iTunes or Android app store gives your creations wide exposure to prospects. And income can be generated by charging for the app, displaying in-app ads, or charging for in-app features and upgrades.

11. Sell Your Time and Talents

The website Fiverr promotes members’ talent in multiple disciplines and connects them to people looking to pay for those skills. For example, if you’re a digital photo editing guru, you might find freelance projects you can complete for compensation.

12. Sell the Use of Your Photos, Videos and Other Media

Some sites allow you to sell your prized photos, video b-roll, original music or illustrations while giving you the option of licensing resale rights for free. This will give you royalties for each use of your photos, videos or music, resulting in longer-term residual income.

13. Sell Your Original Instagram Photos

While you can share your social media photos on Instagram, you can also sell prints of your photos for a profit on Instaprints.com and similar sites.

14. Share Your Knowledge

Do you have in-depth expertise about a specific hobby or any other subject? You could create a website that offers your expertise to others for a price, like offering a music lesson over Skype for a fee or charging for video lessons on gardening. You can make extra income or become wildly successful with this method of making money online.

15. Become an Amazon Associate

This program allows you to earn money by including affiliate links to different products offered by Amazon. When a visitor views your blogs or social media pages and clicks through the Amazon links on your site, you will earn commissions from Amazon on qualifying products bought during that session.

16. Become an Internet Life Coach

Because of the strong interest in quality of life and work-life balance issues, life coaches have become popular in recent years. Unlike the intellectual demands of becoming a technical or executive coach, life coaching can be successful if you possess common sense, a respect for family and a commitment to enjoy life to the max every day and helping others do the same.

17. Promote Organizations on Social Media

Many major retailers will pay you for promoting their businesses on your websites and social media pages. They might pay you in cash or gift cards. For example, some restaurants might give you a gift card if you check in on Facebook or Yelp.

18. Promote Businesses, Products and Services via Affiliate Programs

If you have a website or blog, you can make money through affiliations with other businesses and sites, which will pay a percentage of sales you generate for the affiliate company.

19. Sell Handmade Items and Crafts

For those who like to make handcrafted items, websites such as Etsy are ideal to make some money off of such hobbies. Dedicated handcrafters should check Etsy and similar sites to find the best fit for their products.

20. Become a Virtual Assistant

There are freelance sites, such as the popular oDesk, that often have jobs for virtual assistants. Just as with physical assistant positions, you will get paid for helping executives with a wide variety of tasks.

21. Become a Freelance Writer

Do you have a passion for writing? If earning money by writing gets your blood moving, there are numerous websites offering assignments for aspiring and experienced writers alike.

22. Sell Customized T-shirts Online

Selling graphic T-shirts is big business. Customized T-shirts with clever sayings or graphics are ideal for online sales. Sites like Teespring allow you to sell customer shirts. Teespring’s unique model allows you to design the shirt and get buyers lined up to purchase it. This saves you from the initial investment in stock and the time on processing and shipping orders, though you’ll likely make a smaller profit on each shirt sold.

23. Become a Third-Party Seller on Amazon

If you’ve visited Amazon, you have seen products sold by third-parties with the comment “ships from Amazon.” These are sellers who send their products to Amazon fulfillment facilities, then Amazon lists the item and ships it when a buyer is found.

24. Buy Local and Resell Online

Another great way to make money is to find things in your area that are free or cheap, and then sell them online. Many people hunt through local thrift stores for rare collectibles, vintage styles or cheap-as-dirt books or media to mark up and resell online.

25. Design Websites for a Fee

If you have an interest or skill in web development, there is a big demand for designers to build winning sites for businesses or organizations. Sites like eLance.com are a good place to start to find clients and build your portfolio.

26. Promote Products on Your Website

Sites like SocialSpark offer bloggers cash for authoring and posting original copy about products or services to their sites. Just make sure to pay attention to FCC disclosure requirements when you’re getting paid to promote.

27. Buy Domain Names for Resale

Some people have made big dollars by owning desired domains and selling them to hungry buyers. For a minimum investment of buying domain names you feel will be popular (typically $10 to $20), you might make a big profit selling it down the line.

28. Rent Out Your Driveway or Reserved Parking Spot

Parking is at a premium in most thriving cities. Renting an unused space in your driveway or vacant deeded parking space can generate additional income. Advertising availability on Craigslist exposes this opportunity to local people, and up-and-coming apps like JustPark also allow you to easily rent out your parking space when it’s not in use.

29. Provide Online Tutoring

Sites like Tutor.com and TutorVista.com will connect you with people looking for help learning a subject, and you might be in particularly high demand if you’re good with math, science or a foreign language. You have to go through an application process, and once you’re approved you can start getting paid.

30. Teach an Online Course

Sites like Udemy connect experts with people willing to pay to learn from them. According to its website, about 10 million students use this service, and the average instructor earnings is $8,000.
This article originally appeared on GoBankingRates.

29 Surprising Facts That Explain Why Millennials See the World Differently

29 Surprising Facts That Explain Why Millennials See the World Differently

As Millennials now make up the largest part of the work force, understanding what drives them will help you to engage with them. Here are 29 interesting facts about Millennials that will help you understand them better.
Millennials are now the single largest group within the work force, and will soon become the biggest consumer group, too. 
Understanding, and being able to engage with, Millennials is going to determine how successful your business will be.
Here are 29 Interesting and surprising facts that will help you to better understandthem:
  1. Millennials are carrying a total of $1 trillion in student debt.
  2. Over 63 percent of Gen-Y workers have a bachelor's degree.
  3. 48 percent of employed college graduates work in jobs that don't require a four-year degree.
  4. 45 percent believe a decent paying job is a "privilege," not a "right."
  5. 64 percent of Millennials would rather make $40,000 a year at a job they love than $100,000 a year at a job they think is boring.
  6. 88 percent prefer a collaborative work culture rather than a competitive one.
  7. 74 percent want flexible work schedules.
  8. 50 percent do not believe that Social Security will exist when they reach their retirement age.
  9. 92 percent believe that business success should be measured by more than just profit.
  10. 40 percent of Millennials think that blogging about workplace issues is acceptable, compared to 28 percent of Boomers. 
  11. 80 percent of Gen-Y say they prefer on-the-spot recognition over formal reviews and feel that this is imperative for their growth and understanding of a job.
  12. 70 percent have "Friended" their managers and/or co-workers on Facebook. 
  13. 71 percent don't always obey social-media policies at work.
  14. Millennials are connected to an average of 16 co-workers on Facebook.
  15. 56 percent of Gen-Yers won't work at a company if they ban social-media access. 
  16. 69 percent believe office attendance is unnecessary on a regular basis. 
  17. Millennials actually stay with their employers longer than Gen-X workers did at the same ages; in fact, more Gen-Xers spent less than one year at any one job.
  18. 35 percent of employed Millennials have started their own business on the side to supplement their income.
  19. 54 percent either want to start a business or already have started one. 
  20. About 37 percent of 18- to 29-year-olds have been underemployed or out of work during the recession, the highest share among the age group in more than 30 years.
  21. 84 percent say that helping to make a positive difference in the world is more important than professional recognition.
  22. They're more loyal to employers than previous generations.
  23. The top ideal employers of currently employed Millennials are Google, Apple, Facebook, the U.S. State Department, and Disney.
  24. 41 percent of Millennials have no landline at home and rely on their cell phones for communication.
  25. Millennials value community, family, and creativity in their work.
  26. Millennials are not just virtually connected via social networks; they value the role that they play in these communities.
  27. Millennials are considered multitaskers extraordinaire, though brain science tells us that multitasking is a myth. More likely, they are apt at switching tasks quickly enough to appear to be doing them simultaneously.
  28. Millennials are the most racially diverse generation. Only 56 percent of Millennials are white, compared to 73 percent of Baby Boomers (52- to 70-year-olds). Millennials are almost twice as likely to be Hispanic as older Americans (19 percent versus 10 percent), and more likely to identify as African American (15 percent versus 11 percent) and Asian (6 percent versus 4 percent).
  29. They are more tolerant of different races and groups than older generations (47 percent versus 19 percent), with 45 percent agreeing with preferential treatment to improve the position of minorities.
In short, many Millennials are overeducated, under-employed, heavily in debt, and looking to make a difference in the world--either working for themselves, or in a company that doesn't just focus on profit. They also want to work in a collaborative, flexible environment that doesn't require them to be in the office all the time, and one that will allow them to utilize social media.
Any company that can adapt and accommodate these needs is going to have access to large and talented pool of resources, who will be loyal and do great work.
What is your company doing to attract and retain the best Millennial talent?
The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.
PUBLISHED ON: MAY 2, 2016