Father, Son and the Ironman

Posted on August 20, 2008
Filed Under Internet Marketing | 3 Comments

Just a few days ago I was reading my good friend Ryan Lee’s blog and I came across this amazing video.

I watched this for about 10 times or so! Each time I could not stop my tears.

The story goes like this…

The son asks his father, ‘Dad, will you take part in a marathon with me?’.

The father who, despite having a heart condition, says ‘Yes’.

There after the son asks his father if he can accompany him to the “Ironman”.

………Father says yes.

(I was not aware of what Ironman is all about till I read Ryan explain it on his blog)

Ironman is the toughest triathlon ever. The race encompasses three endurance events of a 2.4 mile (3.86 kilometer) ocean swim, followed by a 112 mile (180.2 kilometer) bike ride, and ending with a 26.2 mile (42.195 kilometer) marathon along the coast of the Big Island.

Finally, both Father and son complete the Ironman.

Here is the video..Post your comments and do express your emotions here.. I am sure there will be a lot.

If you enjoyed this post, make sure you subscribe to my RSS feed!

What Is 2-Step Marketing?

Posted on August 19, 2008
Filed Under Business Development | 1 Comment

In the last post I gave you a quick synopsis on what AIDA formula is all about. In this post I want to discuss the “two Step Marketing” process..

Two step marketing is different than the traditional one-step marketing campaign that many companies still use. The one step marketing campaign performs one marketing action—such as a cold telemarketing call or advertisement—and expects a sale from that single action. Sometimes the one step-marketing program works well, particularly for certain products and services. However, financial experts have discovered that one-step marketing usually brings in fewer customers than projected by the business plan.

This is when companies start to take a two-step approach to marketing. Two-step marketing breaks the process into two parts, fulfilling one goal in the first consultation, the sale in the next step. This proves successful for a number of reasons, starting with the most obvious reasoning that buyers often times need to be persuaded to take action beyond just one quick conversation. This is particularly true in real estate where often times buyers will wait until the eighth meeting or longer to make a decision.

Some experts theorize that one-step programs make the mistake of not focusing on the needs of the potential buyer. That these campaigns are self-concerned and put the wants of the buyer on hold until after the sale is made. The buyer then senses what little worth he has in the eyes of the seller and so resists buying. Two-step marketing programs will focus more attention on the needs of the clients.

Two-step campaigns might focus on educating the potential buyer during the first consultation. The company spokesperson establishes himself as a trusted advisor rather than a pushy salesman. Not surprisingly, the buyer later seeks out the advice of their advisor who directs them towards the initially offered product. This formula has often times resulted in more sales.

When you are promoting a two-step system, you must be careful not to give a sales pitch in the first meeting. By not aggressively selling your product or service you lower the buyer’s defenses and can more subtly direct them to a goal later on. You can use the first meeting as a chance to educate the buyer about your career field, perhaps briefly mentioning your service, and then returning to more imperative issues.

You can explain what common problems may come up in this particular situation and what companies or company practices to avoid. You can help your prospects come to make informed decisions, having established yourself as an expert not intent on pushing his own agenda, but focusing on the needs of the buyer. Two-step marketing has proven effective in many different markets, particularly online, and may be able to help bring a positive change to your business.

If you enjoyed this post, make sure you subscribe to my RSS feed!

AIDA Formula: A Small Synopsis

Posted on August 18, 2008
Filed Under Internet Marketing | 2 Comments

The AIDA formula is an acronym used in business and marketing that refers to a list of events that should be experienced between seller and buyer. When all of these events come into play, then it is far more likely a sale will take place. The AIDA formula stands for Attention, Interest, Desire, Action and occasionally with an S at the end for Satisfaction.

The first necessary step in cultivating customer interest is in capturing attention. This may also be referred to as “awareness.” The seller must capture the attention of the customer, not only in the sense that the customer turns the seller’s way and begins to process information, but in that they are genuinely interested in the message and are willing to give their full attention to the seller.

The next step is in raising the customer’s interest, so that they will be inclined to listen more, perhaps even agreeing to a full presentation and demonstration. Sellers can continue to draw interest by demonstrating features of the product, advantages it can offer the buyer and other benefits associated with making this purchase. You will notice that the seller always emphasizes the buyer’s interests, appealing to buyer’s instinctively selfish desires. The message should always be “this is not about me…this is about you.”

Desire is the next step that should be addressed, as the seller must convince the buyer that they want—they desire—the product or service. Of course, this part may well be a lie. The buyer may not have a need or even a desire for this particular product. Therefore, the salesperson will have to create this desire within the buyer, perhaps craftily using a combination of other desires to create this brand new need. (Hence, why some companies use sex to sell jeans) The buyer must feel the desire building in the sales conversation, and want to satisfy this overpowering need.

Then there is the final step, which incites buyers to take action. Taking action could mean buying the product, signing up for the service, agreeing to the contract—but in essence buying the seller’s marketing campaign. Some sellers have incorporated an additional step into the AIDA formula in “Satisfaction”. That is, continually satisfying the needs of a buyer so that they become repeat customers and give referrals.

AIDA has become an increasingly important principle in business due to the advent of online marketing. AIDA or lack of AIDA can indeed make or break a business.

If you enjoyed this post, make sure you subscribe to my RSS feed!

Where To Start In Creating Your Business

Posted on August 14, 2008
Filed Under Business Development | 2 Comments

So you have a great idea for a new business. Everyone agrees with you that the concept is fascinating and could very well work. Are you ready to secure some loans and get started? Not so fast. You need a comprehensive plan before you start investing any money—both a working plan and a business plan.

For starters, make sure that you identify your niche market. Unless you are planning to open a major chain of stores, you cannot sell general products to general consumers because you are competing against corporate giants. You have to find a niche market that you can work with and perhaps expand upon in the future. Identify your niche and then detail it, according to the market you have studied.

Next, you must understand all the tools related to your business. If you are opening a store or company that is technically based, do you understand the tools that you will be working with? If you are opening a general store do you know how general store equipment operates and can you teach how to use these items to other staff members? If you are creating an e-commerce site do you know how to use Internet tools to your advantage?

The next step is to start budgeting. Pace yourself as you envision a realistic budget with detailed figures based on estimates from professionals or from listed sales prices for supplies and equipment. Create a business plan and detail your cash flow estimates, your startup costs and your market analysis. If you are building a new store what would it look like interiorly?

Never assume that all of these factors will just fall into place naturally. In fact, it’s the little details that often times stumble new business owners into bankruptcy. The more you plan for the little details now, the less work you will have to do in the future, and the more prepared you will be.

Always test your results before assuming that anything is believable. If you have a theory about how to improve in your market then research the past and test your present idea, documenting your findings for others to see. This may be done in taking surveys, interviewing professionals and distributors or by conducting other field experiments.

After you complete a thorough business plan you should roll the specifics into a small sample that you can present to others to assure them of your complete and realistic vision. Lenders will want to see your business plan before giving you any money. Have a ready sample of your business plan, as well as any other special materials that emphasize your very real vision of a successful business.

If you want to succeed in business it’s all about the detail.

If you enjoyed this post, make sure you subscribe to my RSS feed!

Use Empathy in your Message to Skyrocket your Success!

Posted on August 9, 2008
Filed Under Business Development | Leave a Comment

One of the most important factors in motivating your customer to take action is in cultivating clarity and empathy in your message. It’s fairly easy to develop clarity; it simply involves talking to your customer on a personal level.

However, developing empathy remains a challenge for many business owners. This is because many people stubbornly only see their own perspective in life. Failing to see other points of view will severely limit your success in business.

Many business owners are distrustful of customers and are motivated to make quick money before the customer has a chance to change his or her mind. There’s certainly nothing wrong with wanting to make money! That’s why you’ve come this far, no doubt.

But remember that the foolish man (or woman) goes for the quick sale. The smart businessperson develops relationships, which leads to quick sales and repeat sales and referrals.

In order to build relationships with customers you need to develop the quality of empathy, so that you can put yourself in their shoes and figure out what they want from your business. It doesn’t take much to give sympathy to a customer.

You simply nod your head and say, “I know what you mean and I’m sorry.” Empathy involves you understanding why the customer is unhappy and taking the initiative to fix the problem in whatever reasonable way possible.

There are many businesses that do not adhere to this principle of business. They give their customers the run around. They explain “company policy.” They lecture their customers about why the situation has happened. In keeping with these attitudes, they are slowly but surely losing part of their customer base and plenty of repeat business and referrals.

You, as a new business owner, should cultivate a “Zero Pride” attitude in your dealings with customers and refrain from practices that would give you the reputation of having a “superiority attitude.”

Some businesses take this lesson far out, perhaps to territory that you are uncomfortable with. They may offer 100% money back guarantees. They may offer assurances of lifetime guarantees. It’s not always necessary that you give the customer exactly what they want to settle the dispute; just be aware that there are many competing businesses that will do just that.

Furthermore, it’s not about letting the customer “win.” It’s about developing empathy and seeing the situation through the customer’s eyes.

Regardless of what policies you choose, be sure to announce all of these concessions on your advertising campaign. Mention any special guarantees you have, or the strong commitment you have to making customers happy.

Do not simply promise that you are kind to your customers–provide evidence of this point. List your testimonials (hopefully verifiable outside of your website, such as a company name) proudly and let your customers know that in your company, you believe customer satisfaction is ultimately your success.

If you enjoyed this post, make sure you subscribe to my RSS feed!

Getting Help From Others.

Posted on August 7, 2008
Filed Under outsourcing | Leave a Comment

One of the most common reasons why startup businesses fail is because the business insists on being a one-man (or woman) operation. Maybe you enjoy the idea of being a sole proprietor or corporation head. However, you still need to get more people involved in your project. This may include hiring working staff, bringing on a business partner or even seeking out associates for cross promotional activities.

No man is an island and the more you try to succeed on your own, the higher you make that mountain. On the contrary, if you work at developing contacts, networking with fellow businesspersons and potential customers, the more of a community project your business will become. What are some ideas you could try in expanding your business?

If you have an event-style business that brings large groups of people together, then think about food, drinks and refreshments. If you can’t provide this service, can another company help out for a portion of the profits? If your company has a scholastic edge, then why not partner with another institution in town, such as a library or a school on some intellectually rewarding project?

Online companies can likewise work with other companies for mutual benefit. Obviously, you’re not attempting to work with your competitors, nor any large established corporation that doesn’t need you. However, chances are there are many companies that could work with you for a joint effort at capturing more publicity. Consider this a way of securing the non-competing companies in your market, so that they are helping you to make money rather than taking it away.

Not only do you have the option of hiring workers and doing cross-promotional activities; outsourcing jobs can also be another way to add more people into the equation. You can look for a consultant to advise you on your company’s future. You can outsource your voice mail to a live operator who will give customers that friendly touch.

Think of networking and delegating projects as a means of feeding your business, ultimately making it grow, slowly but surely.

Srini Saripalli

P.S: About 2 days ago I released a video titled “The Power Of Leverage In Your Internet Business”. If you are conducting business online then this is something that you must see.

If you enjoyed this post, make sure you subscribe to my RSS feed!

Things about Business “The Apprentice” Taught You…..Part II

Posted on August 1, 2008
Filed Under Business Development | Leave a Comment

Continuing Part I, here are some more hard lessons taught to us by The Donald and his mini-me assistants. Of course, these business lessons are best taught to us indirectly through television rather than through hard and financially devastating experience!

1.Some Advertising Campaigns Are Just Stupid

Some of the more bizarre advertising campaigns these creative geniuses came up with include a police-state army recruiting commercial, a cruise ship vacation turned horrifying crash, and a cucumber porn advertisement for soap, all of which Trump hated. Oddly enough, some of these marketing gurus forgot the most important rule in advertising and focused too much on a creative idea than in selling the actual product.

2.No One Is Expendable, Everyone Can Be Fired

How many unbeatable employees learned this hard lesson from Donald Trump? And we’re not talking about poor immune Bradford’s surprise firing, either. How about Carolyn Kepcher, Trump’s ice-cold assistant who was seemingly the all-powerful female know-it-all for five seasons? After neglecting her duties to Trump after going on a book tour, she was unceremoniously fired and replaced by Ivanka Trump, the boss’s daughter. Now that hurts!

3.Don’t Badmouth Your Co-Workers

No, we’re not talking about Omarosa, Sam, Kelly or Randall—we’re talking about The Donald himself who insisted on publicly lambasting Martha Stewart after her Apprentice spin off was, in the boss’s own words, a “disaster.” Everything Trump taught about professionalism and teamwork was blown away after Martha Stewart embarrassed him and watered down his ratings. Lesson learned: don’t disparage those who can affect your lousy ratings.

4.Money, Money, Money

The biggest lessons the Apprentice taught was in dollars and cents, at least to NBC executives who got to produce a ratings hit for a dirt cheap price and capitalize on numerous product endorsements, cross-promotional activities and image makeovers of many washed up celebrities. What the business gurus say is true: networking pays off!

5.You’re Not Done Till The Boss Fires You

Donald Trump thought he was done with The Apprentice when NBC took it off their fall line up in 2007. However, the network announced shortly after the show might return for the next season—even though Donald had already quit. The lesson learned? It’s not over till the company decides it will no longer sell. Looks like Donald exited the boardroom prematurely.

If you enjoyed this post, make sure you subscribe to my RSS feed!

Randy Pausch..A Great Loss for the Mankind!

Posted on July 25, 2008
Filed Under Motivational Videos, Self Help & Personal Development | Leave a Comment

As a young kid I remember asking my Dad why successful and famous people die young..

My Dad’s initial response: “I don’t know”. But he quickly added..May be its just that God loves successful people. He wants them with him. So he takes them away quickly. But God is also kind becuase he always send them back, when and where he feels; that we the humans need them.

This morning when I read the first news that Randy Pausch is no more. The earth broke beneath my feet.

This is the man who has just started to change the world. The world has lost an amazing motivator, inspirational speaker ( the famous “Last Lecture” series) and above all a humble teacher whose philosophy of life was just unparalleled.

Personally I have a hard time finding words to describe this great man. The whole world knows him as an internet icon, professor and a author. Many know him as a man who had big dreams growing up and realized those dreams in a big way.

I have never met Randy in person, but have heard and seen him speak on recordings. Here is a recording of Randy’s infamous “Last Lecture”. This was recorded at Carnegie Mellon’s McConomy Auditorium Where Randy delivered a powerful, impactful speech to a packed audience.

My heartfelt condolences to his family and friends

Srini Saripalli

If you enjoyed this post, make sure you subscribe to my RSS feed!

Learning From The Used Car Salesman

Posted on July 24, 2008
Filed Under Internet Marketing | Leave a Comment

It may have been a long time since you had the pleasure (or displeasure) in dealing with your old friend the Used Car Salesman. He’s still there, however, pushing his jalopies and lemons like no one else’s business.

You have to respect his old school philosophy since it may have worked for a time. Now of course, you avoid his tactics like the plague in operating your own business. Nevertheless, remembering some of his tactics may help you to improve negotiations with others, including any customers that are understandably suspicious of your pitch.

1.The car dealer tailors the deal to the customer.

The car dealer is attempting to draw out the customer in order to learn information, after which, he will adjust the deal accordingly. Car buyers are advised not to share too much information. Be mindful that some customers will keep information to themselves, and the more you insist on it, the less they will trust you.

This dynamic is all about bargaining power. Work at the pace of the customer.

2.The car dealer like single buyers.

Single buyers are more likely to make impulsive decisions, whereas pairs are usually inclined to think it over. When two or more people show up, that means an evaluation is taking place and one of the two potential buyers is playing the part of skeptic. If you are selling to a tough crowd, remember that in pairs usually one partner holds the bargaining power so focus your efforts carefully, allowing both figures their dignity.

3.Beware of showing too much enthusiasm.

In the world of car sales, enthusiasm is a sign of weakness, either from the car buyer or from the car salesperson. Car salesmen are looking for people who are enthusiastic since this usually means the dealership has more bargaining power. Smarter buyers play it cool and a game of psychological poker takes place.

As a professional in sales, it’s best to mirror the attitude of your buyer and adapt your performance according to their “lead.”

4.Beware of speaking too soon.

Another poker-like game, this time involving long silences and sudden expressions of compromise. In negotiations, it is commonly said that whoever “speaks next” loses the most. The dealer tests customers by pausing, feeling out how long the customer is willing to take to think it over. (He may even try to walk away or seem busy) The customer who remains silent usually gets a better deal.

Remember not to sound too eager to please but resolute, knowing you have given the potential buyer the best deal possible.

If you enjoyed this post, make sure you subscribe to my RSS feed!

How To Move People To Action

Posted on July 23, 2008
Filed Under Sales & Marketing | 1 Comment

A wise man once said “pretty speeches change the world.” This much is true, because we have seen the benefits and the disasters that have resulting from some of the world’s greatest orators.

Abraham Lincoln’s speeches were very charismatic, as were John F. Kennedy’s, and both of these men used their way with words to influence a racially divided nation towards positive change.

Adolph Hitler used his charisma to guide many German soldiers towards a horrific goal in the World War II era.

One can never underestimate the power of words. Words can be used to motivate myriads of people to take certain action. This should inspire every businessman to practice writing and speaking, because a company could thrive or die based on this sales communication.

How do you move people to action?

First you start by building common ground, a foundation of an argument that everyone can agree upon. If your target audience were concerned about high prices, then that would be how you start your pitch.

You gradually build to your pitch, constantly reaching for agreement letting them feel comfortable with your voice. (Whether in speaking or in writing) The climactic moment approaches and that’s when you present a problem followed by the solution that you can offer.

It is important to end your conclusion on a strong, emotional note. If you were selling a product or service geared towards families, then you would want to emphasize familial love in your message.

If you were marketing a project towards young singles, then you would appeal to their desires for dating and relationships. Always try to conclude on an emotional note and then direct your audience to take definite steps in response to this reaction. Such as, “call now”, “sign up now” or “download now.”

Your pretty speeches might not change the world but they may help you connect with your audience and increase your sales.