Making Your First Million.pdf - Association of Net Entrepreneurs and ...

Making Your First Million
Catalogs last forever, particularly if they are thick. If someone sends you a 256 page
catalog on products you're interested in, you're very unlikely to bin it. In fact the only
time you're likely to throw it away is when the supplier replaces it with the next year's
copy. It's a bit like phone books. You don't toss it out after you've used it once. You keep
it as a reference work.
Wherever you can, add value to your relationship with your customer. Include in your
catalog reference tables, handy web addresses, even a street directory or map of your
town. The more valuable you make it, the longer it will be kept. But I'm probably running
ahead of myself. A catalog is a $100,000+ investment and may be something for you to
consider later down the track. Let's look at some proven techniques for increasing your
sales.
Recall the 80/20 rule: You get 80% of your business from 20% of your customers. What
this means is you need to focus on your better customers, write to them, fax them
birthday vouchers etc. But it also means you need to focus on the quality of the
relationship you have with them. Try this as an experiment: Ring up your business
pretending to be a customer, and document your experience. You may be unpleasantly
surprised. Your telephone is your business' shop window and too often it is spoilt by
sloppy and indifferent telephone service.
This is critically important. It will cost you nothing but it could easily double your sales. I
recall phoning a supplier, a major US corporate in Sydney. After waiting on for 43 rings I
got the receptionist: "Good morning XYZ Company!" she snapped in a harsh nasal tone
which expressed her exasperation at being so overworked. I had intended to call our rep
but changed my mind: "Good morning. This is George Parry from D.A. Could I speak
with the managing director?" After a little telephone tag I spoke with the M.D. and told
him that his receptionist was ruining his business and that if he didn't train her in phone
skills she was going to cost him millions.
What are these phone skills? They are very simple and critically important:
1. Answer the phone on the third ring
2. Put a smile in your voice
3. Say: "Good morning XYZ Company. This is "
4. Adopt an attitude of helpfulness
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