Posts Tagged Profits
The Foundations of the American Dream
Posted by davev in Start Thinking, Take Action on May 3, 2011
In a free market economy like the United States, the customer is the king or queen, and they rule supreme. Business and entrepreneurship are devoted to serving customers, to improving the lives and work of ordinary people. This is what makes the American dream possible.
The Spark plug of American Prosperity
The entrepreneur is the spark plug in the engine of the free market and the business system. It is the entrepreneur who recognizes and anticipates a customer need, then assembles the resources necessary to satisfy that need at a price that yields a profit. It is this ability that creates all wealth and opportunity.
Entrepreneurship is Risky
Entrepreneurs are those who take risks to produce goods and services for customers, gambling that the customers will be there to pay prices high enough to yield profits. These profits are essential for the entrepreneur to repeat the process of developing and producing even more products and services in the future.
The Companies of Tomorrow
Some of the biggest and most profitable companies in America today, such as Microsoft, Dell, Oracle, and Apple, did not exist twenty-five years ago. Each year, new companies emerge and older companies disappear. The process of “creative destruction” in the marketplace never ends. Customers’ wants and needs are changing continually, like the weather, from one day to the next, they never remain very long.
The Dynamics of the Free Market
The free market is the vast national and international meeting place where buyers and sellers come together to negotiate and decide what to sell, what to buy, at what prices, and under what terms. The “bright side” of the free market is when businesses strive to please customers in the short term while simultaneously thinking about planning for the long term. The best businesses are those dedicated to building and maintaining customer loyalty so that once they sell something to a customer, the customer is so happy and satisfied that he or she buys again.
Competition Brings Out the Best
To succeed in a competitive market, many of the very best qualities of the individual are demanded. At a minimum, a successful entrepreneur requires courage, both to begin in the first place and persist against endless problems and disappointments. An entrepreneur must be optimistic, energetic, visionary, determined, intelligent, flexible, and able to bounce back repeatedly from disappointment and temporary failure. An entrepreneur, above all, requires an instinct for identifying what products or services he or she can produce and offer that extremely demanding customers will buy and pay for.
Action Exercise
What the U.S. needs today is a new birth of liberty expressed in a national commitment to promote entrepreneurial activity by removing the hindrances that hold it back. What is your entrepreneurial dream? What steps can you take to make your dream a reality?
How to Achieve Wealth and Success!
Posted by davev in Start Growing Rich on July 28, 2010
By Brian Tracy
Everyone I talk to wants to be wealthy. Most are savvy, hardworking and willing to do whatever it takes to achieve their financial goals.
What’s the one thing that holds most smart people back?
What’s the one thing that limits the earning potential?
It’s not starting a business. And it’s not delivering your product or service. The one thing that keeps most people from being successful and wealthy is knowing how to close the sale.
No sale, no income, no business.
Closing The Sale Is The Key to Success!
No matter how smart you are, how good your product or service is, or how long you’ve been in business—if you can’t close the sale, you won’t ever achieve the level of wealth and success you deserve.
Whether you’re just getting started or you’re a seasoned business owner, I’m sure you’ve felt the frustration of losing a sale you deserved, and increasing your income. And during this current recession, with sales shrinking or at best stagnating for most businesses, there is only one sure way to keep profits rolling in.
When I first started out in business, I know that I lost a lot of sales I deserved due to a whole host of common objections. Simply because I didn’t know how to close the sale, all too many of my customers would walk away without getting the product or service they needed and I’d lose the profit I could have earned.
Even worse, I’d lose the potential profits I could have earned from getting the customer on board and helping them for years to come.
Imagine you’ve cooked a delicious meal, but then you couldn’t get anyone to eat it. That would never happen in my house, but that is what happens to all to many business owners. They have a great product or service and they can’t get enough people to use it and buy it.
There is one simple truth about selling and without it you could struggle forever to be successful. The simple truth about selling is that your prospects, your potential customers, are better at convincing themselves to buy than you are. Once you understand this simple strategy and start using it, you’ll close many more sales and start achieving your financial success. This is the one approach that changed my life and can change yours too. With it you can close more sales in less time!
Making Selling Easy!
Why is it so easy to make more money when your prospects do the selling? Trying to convince anyone to spend money is a challenge. Helping them get what they want is easy. And that’s the simple idea behind Eliminating Obstacles to Sales. It shows you how to walk your prospect to the close so they get the product or service they want and you make more.
Eliminate Obstacles to Maximize Your Wealth!
If you drive to work every morning, I don’t have to remind you that it takes much longer to get to work in rush hour traffic. Even a well-designed and well-built freeway slows down to a mind-numbing crawl when it’s overloaded with cars. Nothing is more aggravating. You’ve got a well-tuned driving machine that could easily do 60 miles an hour and get you to work in 15 or 30 minutes. Instead, you can spend an hour or more stuck in traffic. Your prospects’ objections are like the cars in that traffic jam, slowing down the sales process. Eliminate those objections in advance, and you and your prospect get to the sale in half the time.
Move the obstacles off the road and clear the way for your prospects to buy. You’ll melt their resistance and sell more of your products and services—again and again. Use this technique to eliminate obstacles to the sale and ‘pre-sell’ your prospects. You’ll close more sales and make more money with less effort.
To your success,
