How to Achieve Financial Success

Most people use a combination of several of these approaches to become financially successful.

1. Start (or buy) a business, build it up, and then sell it.

You can usually sell a business for 4 times annual profits.

2. Buy real estate and trust inflation/local surging of demand.

Location, location, location and timing, timing, timing. There are always several hot real estate areas around the US.

3. Save 10-30% a year, consistently.

Consistently!

4. Invest well in the markets.

Stocks, bonds, commodities.

5. Inherit it.

Hey, why not? Money is money.

6. Invent a product or process.

Yes, you CAN!

7. Earn $300-$700 per hour as a professional.

Combine this with #3 and you're on your way to financial independence. Just don't get caught up with the Lexus Lifestyle, however.

8. Marry well.

Hmm..

9. Win the lottery.

Hey, it happens!

10. Trade and Deal: buy low, sell high.

Deal in goods, put together deals for others, network well, develop your reputation.

Top Sales Professional Techniques

The top 5% of all sales professionals seems to have most of the following qualities, traits, styles and attitudes. I've included the traditional/old selling skill in parenthesis. Obviously, these Top 10 Secrets go the next step beyond the traditional way of describing them. How to improve sales performance:

1. An obvious and compelling Passion for People, not just the for product or service. (OLD: Really believe in the product/service.)

Super Sales Professionals care SO much for people and helping them to solve their problems/get their buying needs met that the buyer FEELs this. It's not an act; it's a calling.

2. An ability to help the prospective customer to FEEL. (OLD: Find/create pain.)

The Super Sales Professional doesn't just look for the hot buttons as a way of getting the person to buy. Instead, they help to create a possibility that EXCITES the buyer.

3. A willingness to sell to the buyer's buying strategy instead of using a collection of selling techniques and hoping for a connection. (OLD: Using a technique that works for you.)

This requires a certain humility because the Super Sales Professional makes the buyer more important than the Super Sales Professionals collection of selling skills. Every buyer has their preferred way to purchase; get to know these in general and quickly discover the preferred way that your potential customer buys/makes a decision, etc.

4. An ability to peg/discern who is going to be a buyer and who is not. (OLD: Ability to qualify prospects quickly.)

Super Sales Professionals have a sixth sense that helps them to distinguish between tire kickers and real buyers. This sixth sense is develop-able. And, it saves LOTS of time and frustration when mastered.

5. Ability to easily match the EXACT features/benefits of the product with the client's spoken or unspoken needs or wants. (OLD: Sell the sizzle, not just the steak.)

No buyer cares about ALL of the features and benefits; they usually only care about 1 or 2 of them. Your mission: Sense, feel or discover (by asking questions, guessing) the key benefits that turn this discussion into a sale, quickly.

6. Not needing to have to make the sale. (OLD: Don't appear too hungry.)

Hungry salespeople scare away the meal.

7. Discerning the appropriate next step for the buyer and helping them to see how your product/service is the obvious choice. (OLD: Sell to the need.)

This requires some thinking and feeling. When you can size up your buyer and look "ahead" for/with them, you'll see a picture of what's next and be better able to language how your product/service can assist them in their progress.

8. Having enough evidence of how REALLY effective valuable your product/service is and then sharing that with confidence. (OLD: Know your product/service well.)

When you've seen enough customers do extremely well with your product or service (not just well, but EXTREMELY well), you'll not be hesitant to share how well your product/service works. Facts inspire confidence. Get to know the real facts about how effective your product or service performs and delights customers, and you'll be a FEARLESS sales professional.

9. Naturally adding value to everyone you touch, buyer or not. (OLD: Be a resource to potential customers.)

Either you seek to add value to everyone or you don't.

10. Be human, be light and be real with everyone. Don't perform or act. (OLD: Create rapport.)

Drop the pretense, the false sincerity, the I'm-your-new-best friend, the I'm-here-to-SERVE-you-at-least-as-long-as-I-think-there's-a-chance-that-you'll -buy-something-from-me.

ToPredict Your Future. Don't use a crystal ball to make forecasts of your business. By carefully analyzing the historic trends of
your business, as shown on your records for the previous five decades, you can forecast for the year ahead. Your record of sales,
your experience with the markets in which you market, and your overall knowledge of the market ought to enable you to forecast a
revenue figure for the following year.

When You've Got a Sales forecast figure, make up a budget showing your prices as a proportion of the figure. Within the following
year, you can compare actual P&L figures for your budgeted figures. Thus, your budget is an important tool for determining the
health of your business.

Make Timely Decisions. Without actions, forecasts and conclusions about the future are not worth the paper they're written on. A
decision that doesn't result in action is a poor one. The pace of business demands timely in addition to informed decision making.
If the owner-manager is to stay ahead of competition, you must move to control your destiny.

Effective Decision making in the small business requires several things. The owner-manager must possess as much accurate
information as possible. With these details, you need to establish the consequences of all feasible courses of actions and the
time demands. When you have made the decision, you have set up your company so the choices you make could be transmitted into
actions.

Control Your Small Business. To work, the owner-manager needs to have the ability to motivate key people to acquire the outcomes
intended for within the price and time limits allowed. In working to achieve results, the small business owner-manager has an edge
over large business. You can be flexible and fast while many big businesses need to await committee action before a decision is
made. You don't have to get consent to act. And equally important, bottlenecks to implementing new practices may get your own
personal attention.

One of those Secrets is in deciding what things to restrain. Even in a small business, the owner-manager should not attempt to be
all things to everyone. You should keep close control on people, products, cash, and any other resources that you consider
significant to keeping your operation geared toward profit.

Manage Your People. Most businesses realize that their largest expense is labor. Yet because of the close contact with employees,
some owner-manager of small businesses do not pay sufficient attention to direct and indirect labour costs. They have a tendency
to consider these prices concerning people as opposed to relate them to gain with respect to dollars and cents.

Listed below Are Some Tips concerning personnel management:

Periodically Review every position in your business. Take a quarterly look at the job. Is work being duplicated? Can it be
organized so that it motivates the worker to become involved? Can the tasks be given to another employee or employees along with a
position eliminated? Can a part-time individual fill the occupation.

Perform A modest personal mental game. Imagine you have to eliminate one worker, If you had to let one person go, who'd it be? How
can you realign the tasks to make out? You may find a true solution to the imaginary difficulty is potential to your financial
benefit.

Use Compensation as a tool instead of viewing it as a essential evil. Reward quality work. Investigate the possibility of using
raises and bonuses as incentives for higher productivity. For example, can you schedule bonuses like morale boosters during
seasonal slacks or alternative dull periods?

Remember There are new means of controlling absenteeism through incentive compensation plans. For instance, the owner-manager of
one small business eliminated vacations and sick leave. Rather, this owner-manager gave every employee thirty days annual leave to
use as the worker saw fit. At the end of the calendar year, the employees were paid at regular rates for the depart they did not
use. To make up for the yearlong pay, the employee had to prove that sick leave was taken solely for that purpose. Non-sick leave
had to be applied for in advance. As a result, unscheduled absences and overtime pay have been reduced significantly. In addition,
employees were happier and more effective than they had been under the old system.

Control Your Inventory. Do not tie up all your money in inventory. Utilize a perpetual inventory system for a cost control rather
than a system only for taxation purposes. Establish use patterns or purchase patterns on the materials or items you have to stock
to keep the minimal number required to provide your customers to maintain production. Excessive stock, while it's finished product
or raw materials, ties up funds that could be used to better advantage, for example, to open a new sales territory or to buy new
machinery.

Centralize your Buys and avoid duplications. Be a relative shopper. Confirm orders in writing. Get the purchase price and amount
straight right away.

Assess what you Receive for quality and condition. Assess bills from providers against quotes. You don't want to be the victim of
their error.

You Ought to, However, keep 1 fact in mind when you set up your stock control system. Do not invest more on the control system
than it can yield in savings.

Control Your Products. From control of stock to control of merchandise is but a step. Ensure your sales people understand the
value of selling the products which are the most lucrative. Align your service policies along with your own markup in mind.
Arrange your goods so that low markup things need the least handling.

Control Your Money. It is good policy to handle cash and checks as though they were perishable commodities. They are. Money in
your protected earns no return; also it Can be stolen. Bank promptly.

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