The Web Conferencing Blog

Beat Your Competition

With tremendous market opportunity comes increased competition. When you look at the total available market opportunity for Collaboration, it's a $40B market! Cisco, a market leader in Telepresence, Contact Center, Web Conferencing, is looking to capture more of the Collaboration market share by expanding its portfolio into instant messaging, enterprise social collaboration and enterprise content management. At the same time, Microsoft and IBM, both with strong presence in email and team collaboration are looking to take market share from the areas where Cisco have market leadership. On the periphery, Google, Salesforce.com, Oracle, are looking patiently waiting for the right opportunity to capitalize on.

With all this competition, how does one win? What can you do to increase your win ratio against the competition?

1. Differentiate on all level. Differentiate your company, your product and yourself. Your company must be viewed as reputable, your product must be higher quality, easier to use, more reliable. You have to ask better thought provoking questions and be a perceived industry expert while understanding your customer's business. Years ago, I blogging about Do Commodity Products Exist? and it's worth a read as it focuses on differentiation.

2. Focus on your strengths and downplay your weaknesses. How and when to leverage your strengths? Read Sales Strategies

3. Qualify your opportunities, disqualify your opportunities even faster. Read Sales Secret #1 from Top Sales Secrets

4. Attitude and confidence. Exude so much confidence in your company, product and yourself that your customer feels compelled to do business with you because it minimizes their perceived risks.

5. Be creative. Find ways to get your customer to say "yes." Can you add something to your proposal to make it of higher value to your customer? Is there something you can offer that your competition cannot?

Other sales-related posts: 

• Top Sales Secrets
• Do Commodity Products Exist?
• Sales Strategies

How to Improve your Email Response Rate: Quick Tips

Want to increase your email response rate? Stop focusing on selling. Stop talking about your product, your company and what's in it for you.

How many "I's" did you use in your last prospect email?

Was your email just one long paragraph with 7-plus sentences? (Did it look like a huge block of text that someone was just dying to read?)

How many bullet points did you have of product feature vomit?

With email marketing, your goal is ENGAGEMENT not selling. Your primary goal is to get the prospect engaged to take action and respond to your email. Your second goal is to book an appointment. After that, it's Sales 101. (Reminder, focus on the prospect not YOU!)

Follow these tips and you'll see a increase in your email response rate.

Quick Email Tips:

• Keep your email SHORT and sweet (Would you want to read a long email that came from someone you did not know? Also, long emails never get read in the Mobile world we live in, think iPhone, Blackberries, Droids and what you can fit in on the screen.)

• Use BULLETED lists and INDENT them (This creates a pattern shift and eyeballs naturally focus on the new indented content, hence, gets read.)

• Keep paragraphs 1-2 sentences long (Anything longer, the reader will "get to it later," and might even conveniently never get back to you.)

• Use KEYWORDS that pertain to the prospect's world: product names, industry buzzwords, related business news, people he/she might know that you can find via their Linkedin.com connections.

• End the email with a short question.

• Include your contact info along with links to your Linkedin.com profile, your Twitter account, your blog, your Facebook page, etc.

• No response on your first attempt, resend another email by FORWARDING the original email with another short and sweet email. Continue to do this up to 3-4 times!

• Follow up with a phone call. Your call will no longer be "cold" since you have emailed a few times by now. A mental connection between your name and emails will be created by the prospect when you call. Don't be surprised if you get an apology from the prospect for not getting back to you sooner. It happens to me all the time.

 

EXAMPLE EMAIL:

[NAME],

Can we chat today or tomorrow?

Wanted to share some creative ideas with you about (THEIR PRODUCT NAME).

Thoughts?

[YOUR NAME and CONTACT INFO with SOCIAL PROFILE LINKS]

*** If you really want your email to stand out, be bold, and include your portrait to put a face to the name.

More email examples to come. Just click on "like" on Facebook and share your successes.

 

 

How to Develop a Definite Major Purpose

How to Develop a Definite Major Purpose
by Dr. Napoleon Hill

This procedure in the development of a Definite Major Purpose is simple, but important, viz:

(a) Write out a complete, clear and definite statement of your Major Purpose in Life, sign it and commit it to memory. Then repeat it orally at least once every day, more often if practicable. Repeat it over and over, thus placing back of your purpose all of your faith in Infinite Intelligence.

(b) Write out a clear, definite plan by which you intend to begin the attainment of the object of your Definite Major Purpose. In this plan state the maximum time allowed for the attainment of your purpose, and describe precisely what you intend to give in return for the realization of your purpose, remembering that there is no such reality as something for nothing, and that everything has a price which must be paid in advance in one form or another.

(c) Make your plan flexible enough to permit changes at any time you are inspired to do so. Remember that Infinite Intelligence, which operates in every atom of matter and in every living or inanimate thing, may present you with a plan far superior to any you can create. Therefore be ready at all times to recognize and adopt any superior plan that may be presented to your mind.

(d) Keep you Major Purpose and your plans for attaining it strictly to yourself except insofar as you will receive additional instructions for carrying out your plan, in the description of the Master Mind Principle, which follows.

Do not make the mistake of assuming that because you may not understand these instructions the principles here described are not sound. Follow the instructions to the letter; follow them in good faith, and remember than by so doing you are duplicating the procedure of many of the greatest leaders this nation has ever produced.

The instructions call for no effort that you may not easily put forth.

They make no demands upon time or ability with which the average person may not comply.

And they are completely in harmony with the philosophy of all true religions.

Decide now what you desire from life and what you have to give in return. Decide where you are going and how you are to get there. Then make a start from where you now are to get there. Then make a start from where you now stand. Make the start with whatever means of attaining your goal that may be at hand. And you will discover that to the extent you make use of these, other and better means will reveal themselves to you.

That has been the experience of all men whom the world has recognized as successes. Most of them started with humble beginnings with little more to aid them than a passionate desire to attain a definite goal.

There is enduring magic in such a desire!

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Thoughts on Success by Napolean Hill

Thoughts on Success
by Dr. Napoleon Hill

Definiteness of Purpose - Successful people move on their own initiative, but they know where they are going before they start.
 
Mastermind Alliance - No man can become a permanent success without taking others along with him.
 
Applied Faith - You can do it if you believe you can.
 
Going the Extra Mile - The most successful people are those who serve the greatest number of people.
 
Pleasing Personality - It is essential that you develop a Pleasing Personality - pleasing to yourself and others.
 
Personal Initiative - Today's employer usually is yesterday's employee who found opportunity waiting for him at the end of the second mile.
 
Positive Mental Attitude - Keep your mind on the things you want and off the things you don't want.  Remember the old proverb:  "Be very careful what you set your heart on, for you will surely achieve it."
 
Enthusiasm -  To be enthusiastic - act enthusiastically!
 
Self-Discipline - Direct your thoughts, control your emotions, and ordain your destiny!
 
Accurate Thinking -  Truth will be truth, regardless of a closed mind, ignorance or the refusal to believe.
 
Controlled Attention - Keep you mind on the things you want and off the things you don't want!
 
Teamwork - Harmonious cooperation is a priceless asset which you can acquire in proportion to your giving.
 
Adversity and Defeat - Remember:  Every defeat, every disappointment and every adversity carries with it the seed of an equivalent or greater benefit.
 
Creative Vision -  The imagination is the workshop of the soul wherein are shaped all plans for individual achievement.
 
Maintenance of Sound Health - If you think you're sick, you are.
 
Budgeting Time and Money - Tell me how you use your spare time and how you spend your money, and I will tell you where and what you will be ten years from now.
 
Cosmic Habitforce - You are where you are and what you are because of your established habits and thoughts and deeds.

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What Makes a Bad Leader?

Every leadership book or article that I have ever come across always focuses on top leadership qualities, probably the easiest way to look at leadership I suppose. Select a handful of top companies and their respective CEO's and see what they have in common. Jack Welch: ex-GE CEO, John Chambers: Cisco, Steve Jobs: Apple, Meg Whitman: ex-CEO EBAY, Jeff Bezos: Amazon, Warren Buffett: Berkshire Hathaway, and Larry Fink: Blackrock. Qualities or traits that most often come up: 

• Clear vision and forward thinking
• Hires the right people for the right roles
• Collaborative in vision development
• Establish benchmarks to measure progress
• Results-based
• Admits errors or mistakes
• Commitment to maintaining integrity across the organization
• Leads by example
• Communicative and persuasive
• Business and financial acumen

It would make sense than that bad leaders would be the opposite of the traits listed above. In a recent Harvard Business Review article by Jack Zenger and Joseph Folkman, they found this to be the case. More specific, the biggest difference between the best leaders and the worst was their energy and enthusiasm. No surprise that some of the best leaders are known for their "charisma" which in many cases can also mean enthusiasm and passion for what they are doing.

What I found interesting is criteria such as inexperience, lack of "proper" education and unproven track record did not appear on the list of worst leaders. Inversely, one could then conclude that experience, an MBA degree from a top program and a proven track record are not the important traits for the most successful leaders. (The one X factor for me would be an MBA. I just think to be a top leader, you need to have an MBA. My case is partially stated below:)

• Jack Welch: BS from University of Massachusetts and MA from University of Illinois-Champaign
• John Chambers: BA and Law Degree from West Virginia University and MBA in Finance and Management from Indiana University
• Steve Jobs: Reed College studying physics, poetry and literature
• Meg Whitman: BA Economics from Princeton and Harvard MBA
• Jeff Bezos: Computer Science and Electrical Engineering from Princeton
• Warren Buffett: a stint at Wharton, then to University of Nebraska at Omaha. Rejected by Harvard Business School. MBA from Columbia University
• Larry Fink: BA and MBA from UCLA

If you want to be a top leader use the list below and do the opposite! Again, everything on the list can be controlled. Nothing states, "Get 15 years of management experience, get an MBA from Harvard or Wharton."

It all starts with energy and passion, believing in what you are doing and exciting those around you to feel just as passionate. Don't accept mediocrity, raise expectations. Have a clear vision of where you are now and where you want to be in 3 months, 6 months, 12 months. Collaborate with others and flatten out your organization. Encourage people to take risks, to innovate and to brainstorm new ideas. Communicate openly and be transparent.

Source: Harvard Business Review , June 2009

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Are You Missing the Boat?

Earlier this week I was talking to a customer about general corporate strategy and advanced planning. He told me that he and his team were making some very bold moves and doubling their efforts around sales and marketing. "We see lots of opportunity out there right now and we certainly are not going to miss the boat." I applauded their ability to take risks.

I started thinking about his "missing the boat" comment...

It's no surprise that during these interesting economic times, executives need to be more visionary and predictive of the future than ever. Pretty hard to do when the crystal ball is blurrier than ever. Even the great Warren Buffett recently said he could not have predicted the losses of some of the investments Berkshire Hathaway made. So what do you do?

My point is this...it's pretty crazy out there and very unpredictable yet why are there some companies that are 100% maximizing this time as an opportunity rather than laying low and waiting for the storm to pass? Why are some companies moving forward at twice the speed and other companies thinking it's best to put the brakes on everything? Why are some companies reinvesting in its employees with training and career development while others are not? I suppose it depends on your vantage point though I would contend that it really comes down to how much you believe in the long-term viability of your company and your employees, any company's greatest asset, the employees. The companies that are doubling down now and reinvesting in their employees are the companies that are taking risks, making bold moves and not missing the boat. These are the companies that will come out stronger than ever when things are back to "normal."

Is there a difference between taking risks and just being stupid? Yes, of course. Two examples of companies that took bold risks when the timing was not the best...though is there ever truly a best time anyway?

-Apple launched the iPod 6 weeks after the September 11th attacks on the World Trade Center.
-Kellogg doubled it advertising budget during the Great Depression while other "played it safe." Kellogg aggressively marketed their Rice Krispies Cereal. (The rest is history.)

I get the point that for executives it's the difference between "missing the boat" and "sinking the boat." Makes sense, risk vs reward, the fear and uncertainly of making a decision that fails vs making a decision that would have succeeded.

Is it possible to find something in the middle? Perhaps. How about we leverage times like these to get extra creative, to be more innovative then ever by listening to customers and really understanding what they need to be successful? How about we develop products from outside-in vs inside-out, where we cross our fingers and hope/think customers will find value in the new enhancements? What about creating new, uncontested market spaces where competition is irrelevant? Easy to do, certainly not. Possible? You better believe it is.

Exercising "Innovative Leadership" right now can be the difference between giving the green light on a bold new idea and watching it succeed or watching your competitors take all the glory and revenue because you took a pass.

Don't miss the boat...

Thanks,
David Chao
The Web Conferencing Expert

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The Law of Success

 

 

 

A Man’s Mental Attitude
by Napoleon Hill

A man’s mental attitude in respect to defeat is the factor of major importance in determining whether he rides with the tides of fortune on the success side of the River of Life or is swept to the failure side by circumstances of misfortune.

The circumstances which separate failure from success often are so slight that their real cause is overlooked. Often they exist entirely in the mental attitude with which one meets temporary defeat. The man with a positive mental attitude reacts to defeat in a spirit of determination not to accept it. The man with a negative mental attitude reacts to defeat in a spirit of hopeless acceptance.

The man who maintains a positive mental attitude may have anything in life upon which he may set his heart, so long as it does not conflict with the laws of God and the rights of his fellowmen. He probably will experience many defeats, but he will not surrender to defeat. He will convert it into a stepping stone from which he will rise to higher and higher areas of achievement.

The subject of a positive mental attitude is so important that it not only claimed first position in the list of the twelve riches of life, but it had to be included as an important part of the principle on pleasing personality, and has been mentioned in practically every principle of this course.

A positive mental attitude is an essential part of the key which unlocks the door to the solution of all personal problems. It is the magic quality of this key which enables it to attract success as surely as an electro-magnet attracts iron filings.

The whole secret of the formula by which you may turn defeat into as asset lives in your ability to maintain a positive mental attitude despite your defeat.

This is no man-made rule. It is a part of the imponderable phenomena of nature through which man has been provided with the privilege of drawing upon that power known as faith. Faith and a positive mental attitude are twin brothers! Where one is found, there also will be the other. The two are inseparable. Faith is a power which cannot be analyzed by science, yet it is the greatest power available to mankind.

And the strangest of its qualities exists in the fact that it is free, equally available to the humblest person or the greatest. Recognize this truth and you will be well on your way toward the great estate of Happy Valley.

Source: PMA Science of Success. Pgs. 396 & 397.

 

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Develop One Weakness, Makes All the Difference

When you are good at something, it's very easy to rely on that strength to get you through most situations. You know you are good at it an it's worked in the past. Don't fix if it's not broken right? I get this but often times, what once worked in the past does not work in the present. One needs to constantly find ways to get better and improve.

A colleague of mine is a tennis player and he's an excellent player. When he first started playing, he had a great forehand and used it all the time. Instead of developing a backhand all he did was take two extra steps to his left and hit a forehand: powerful, accurate, down the line, WINNER.

Over time, he realized that to progress his tennis game, he had to develop his weakness, his backhand. Doing this would require hard work, training, and practice. Note that he did not focus on developing all areas of his tennis game, just one vital component: his backhand. He did not worry about all his "weaknesses," just the immediate and most important one that would pay the highest dividends once he mastered it.

Turning a weakness into a strength provided him with a competitive edge. What better way to reveal a killer backhand when everyone is expecting a forehand!

In order to survive in today's business environment, you need to push yourself to get better and round out your skills by improving your vital weaknesses, one at a time. Focus on developing skills and behaviors that drive the greatest results. Change at a faster rate than what is changing around you. If change is happening faster than you can adapt, you will not survive.

Thanks,
David Chao
The Web Conferencing Expert

 

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The Champion Creed

"I am a champion.

I believe in myself.

I have the will to win.

I set high goals for myself.

I surround myself with winners.

I’m cool, positive and confident.

I have courage. I never give up.

I’m willing to pay the price of success.

I love the struggle and the competition.

I stay relaxed and in control at all times.

I focus all my energy on the job at hand.

I vividly imagine what victory will feel like.

I am a champion and I will win."

Recently, I came across this creed. Can't exactly remember where I saw it or who authored this version of "The Champion's Creed" but it certainly resonated with me. Can you imagine the power of positive thinking and visualization by saying this every day before you begin your work day? Absolutely powerful!!

In my own words, I would also like to add the following comments to The Champion's Creed:

Have a clear vision. See the opportunity and go after it relentlessly.
Have the courage to see things through the tough times.
See obstacles as only temporary.Love whatever it is that you do.
Always give your best.
Practice like a champion.
Play like a champion.
Live like a champion.

Thanks,

David Chao

The Web Conferencing Expert

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"Do more than is expected of you."

"Do more than is expected of you."
"Do more than is expected of you."
"Do more than is expected of you."

This is one of my favorite quotes from Napoleon Hill's "Think and Grow Rich," so I thought I would type it out three times to be dramatic. I've read the book multiple times and each time I read it, it's just as inspiring as the first time.

Some truths are just timeless, this is one of them. "Do more than is expected of you." Simple, to the point and oh so true.

Sales is not an easy job and it's not for everyone. Many people get lured into sales because it can be lucrative and prestigious. Most people growing up don't say, "When I grow up I want to be a sales rep!" It just doesn't happen. Like anything else, sales is an occupation that follows the standard Bell Curve. A majority of the sales reps are average. Then there are a handful of exceptional sales reps to the right of the curve and of course a handful of sales reps that probably shouldn't be in sales to the left of the curve.

What's the difference between these three categories of sales reps? The best sales reps have that burning desire to succeed with hard work. They will do whatever it takes. They do more than what is expected of them. Some many disagree and say that factors like experience, business acumen, salesmanship are the real main differences. I contend that these things can be learned over time.

A strong, solid work ethic and the burning desire to succeed is not taught or learned. It only comes from within and when it's unleashed it cannot be denied.

Michael Phelps did not win 8 Gold Medal because he started swimming at an early age (experience) or knew the mechanics of the perfect stoke (knowledge) or had the best coach. He won 8 Gold Medals because he was willing to do anything to get those 8 Gold Medals, even if it meant spending up to eight hours per day in the pool. If other swimmers trained 8 hours a day, I suspect Michael Phelps would have trained 12-14 hours per day. "Do more than is expected of you."

Every sales rep wants to be the best. Wanting to be the best and wanting to succeed is far different than doing whatever it takes and doing more than what's expected to be the best. Saying, "I want to be the best," is easy. Backing it up with hard work is what separates the best sales reps from everyone else.

Ask yourself if you truly have that undeniable burning desire to be successful. Are you one that goes above and beyond? Do you do more than what is expected because you want get recognition for your efforts or do you do this because you know that there are no shortcuts and that the greatest rewards are always the ones you worked the hardest for? Be honest with yourself.

The good news is that if you are a top rep, an average sales rep or a not so great sales rep, you and you alone have the option to change you mindset, step up your game and get better with strong, consistent hard work. 

"Do more than is expected of you."
"Do more than is expected of you."
"Do more than is expected of you."

Thanks,
David Chao
The Web Conferencing Expert

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