A Quote by Colin Powell
In the military we also learn principles of war which also work in a corporate setting: How do you concentrate as much of your force as possible on a critical point and take a risk elsewhere? In business that translates into focusing your investment on marketing, sales, or R&D, whichever will give you the greatest return.
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Marketing is your battle plan for the sales team - it's about defining the landscape. Marketing is doing cohort analysis and understanding exactly what possible customers are out there. It's understanding not only which customers will respond to what messages, but also how customers will become clients if you include certain product features.
Often in companies, you'll see tensions between sales and marketing. Sales people will want to give discounts to clients because they often get paid a commission based on how much they sell. So they're always pushing to give discounts because that will increase sales. Marketing, however, is judged by overall profitability.
Smart recessionary marketing means not waiting for business to return to normal. Instead, you should cash in on this invaluable opportunity your more cautious competitors may be creating for you. If they pull back, your media investment works much harder.
When Dad came home from work, he'd turn our family dinners into tutorials on business, money, sales, and profit margins. He shared fascinating stories about his customers, marketing, and my favorite topic when I was a kid - new product launches. Our father also took us to his office before the advent of 'Take Your Child to Work Day.'
I am saying that out of a spirit of appreciation and gratitude, and a sense of duty, you ought to make whatever adjustment is necessary to give a little of your time-as little as two years-consecrating your strength, your means, your talents to the work of sharing with others the gospel, which is the source of so much of the good that you have. I promise that if you will do so, you will come to know that what appears today to be a sacrifice will prove instead to be the greatest investment that you will ever make.
Once you’re in sales, you will also learn what sells and what not. Use the sensitivity of detecting market sentiments as a platform for running your business and in the identification of product winners in the future.
I think setting goals is critical; having deadlines for ourselves- how much by when? Too many people have these big dreams where they want to have a big house on the ocean. But until we say what ocean, how big, what day, our conscience doesn't know what to do with that information. A positive expectancy, a positive attitude, a belief that your dream is possible is also helpful.
Keep evolving. Keep reading plays, doing plays, but also be sure to expand your horizons as much as possible. You only have yourself to bring to your work. You are your palette, so give yourself as many colors as possible to paint with.
Your customers are the lifeblood of your business. Their needs and wants impact every aspect of your business, from product development to content marketing to sales to customer service.
Traditional sales and marketing involves increasing market shares, which means selling as much of your product as you can to as many customers as possible. One-to-one marketing involves driving for a share of customer, which means ensuring that each individual customer who buys your product buys more product, buys only your brand, and is happy using your product instead of another to solve his problem. The true, current value of any one customer is a function of the customer's future purchases, across all the product lines, brands, and services offered by you.
To laugh is to risk appearing a fool. To weep is to risk appearing sentimental. To reach out to another is to risk involvement. To expose feelings is to risk exposing your true self. To place your ideas and dreams before a crowd is to risk their loss. To love is to risk not being loved in return. To hope is to risk pain. To try is to risk failure. But risks must be taken, because the greatest hazard in life is to risk nothing.
I ask people what they do in sales, how much money they made last year, what their cost of sales is, and they don't even know. If you don't know your numbers, you're going out of business. I don't care how good your product is.
There is no such thing as guaranteed high investment returns. Be wary of anyone who promises that you will receive a high rate of return on your investment with little or no risk.
Cultivate a deep understanding of yourself - not only what your strengths and weaknesses are but also how you learn, how you work with others, what your values are, and where you can make the greatest contribution. Because only when you operate from strengths can you achieve true excellence.
In each succeeding war there is a tendency to proclaim as something new the principles under which it is conducted. Not only those who have never studied or experienced the realities of war, but also professional soldiers frequently fall into the error. But the principles of warfare as I learned them at West Point remain unchanged.
Where you want to be is always in control, never wishing, always trading, and always first and foremost protecting your ass. That's why most people lose money as individual investors or traders because they're not focusing on losing money. They need to focus on the money that they have at risk and how much capital is at risk in any single investment they have. If everyone spent 90 percent of their time on that, not 90 percent of the time on pie-in-the-sky ideas on how much money they're going to make, then they will be incredibly successful investors.
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