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How to Survive the Recession
...Stronger Than Before
As bad as it is out there, it's important to recognize that this is a time of tremendous opportunity.
Get my free report, "How to Survive the Recession ...Stronger than Before" by replying to this email or by calling the number above.
Quick Quiz
Each month I’ll give you a new question.
Just reply to this email for the answer.
What type of camera did Edwin Land develop?
Worth Reading
Selections from the best articles seen online this month.
A Logo Is Not a Brand
from Harvard Business Review
Can you imagine seeing a crooked banner with duct tape in an Apple store? According to Dan Pallotta, brand is everything and everything is brand. In other words, a company's brand is embedded in everything it is and everything it does. Ultimately, brand is integrated into your business at every level and in every detail.
How to Take a Stress-Free Vacation
from American Express OPEN Forum
According to American Express research, a majority of small-business owners will not take a vacation this summer, either because of busy work schedules or lack of extra money. But it's important to take time off and de-stress. Jean Chatzky offers tips for getting away without increasing your stress.
BOOK REVIEW
No B.S. Price Strategy, by Dan Kennedy and Jason Marrs
In today's economy, prices are under enormous pressure. With customers harder to find, it sometimes seems the only strategy is to discount. On top of that increasingly (especially online) businesses are competing with products offered for free - just ask the newspaper industry.
Dan Kennedy and Jason Marrs argue that you don't need to discount. Indeed, by using the right tactics, you can actually raise prices and, by doing so, increase your profits.
This book offers some hard-nosed strategies to help you maintain your prices and your margins and gives you opportunities to win when your competitors are engaging in a destructive price war.
It also provides some very useful strategies for setting your prices in the first place - something that many businesses find quite difficult.
This book provides timely - albeit perhaps contrarian - advice.
Wisdom
Quotes by...Jay Abraham
If you're attacking your market from multiple positions and your competition isn't, you have all the advantage, and it will show up in your increased success and income.
Understand that you need to sell you and your ideas in order to advance your career, gain more respect and increase your success, influence and income.
The fact is, everyone is in sales. Whatever area you work in, you do have clients and you do need to sell.
You are surrounded by simple, obvious solutions that can dramatically increase your income, power, influence and success. The problem is, you just don't see them.
An amazing thing, the human brain. Capable of understanding incredibly complex and intricate concepts. Yet at times unable to recognize the obvious and simple.
Jay Abraham, a marketing consultant, is the author of Getting Everything You Can Out of All You've Got and The Sticking Point Solution. |
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REAL ESTATE
Benefits of Hiring a Real Estate Team
When selling a commercial property, owners might want to consider whether a team is the best way to go.
The practice of real estate sales can be exercised in a variety of ways. The most common approach is to hire a single agent and have him or her represent the sale of a property.
However, there are a growing number of sales representatives operating as members of a larger team under one leader. Following are a few advantages of working with a team:
Marketing Budget: Teams typically have a greater marketing budget than individual agents. The pool of advertising dollars is greater with several agents because there are more agents contributing to the marketing pool. This typically means additional and more targeted marketing for commercial properties.
Extra Support: Teams offer extra support because several agents are familiar with the property and able to step in at any time. To use a sports analogy, it is like inserting a fresh player into the game, giving you a competitive edge.
More Contacts: Possibly the greatest thing about hiring a team of agents is that the team has a larger group of prequalified clients than the majority of single agents. This pool may or may not be where the buyer comes from, but it does offer opportunities for the seller.
It is a personal preference whether you want personalized individual service or a broader team approach. There are obvious benefits to both approaches. The team approach offers some unique incentives for the commercial property seller.
PROMOTION
How Customer Comments Can Be Your Best Marketing
 Customer testimonials are a terrific way to promote your business.
For small or start-up businesses in particular, positive comments from customers who are willing to put themselves out there for you offer proof positive to other potential buyers that you are worthy of their business.
Testimonials add credibility to almost any marketing message, and in most cases they cost virtually nothing to obtain.
From the time you launch your business, you should aggressively seek feedback from customers and begin to compile a file of letters and emails with comments, anecdotes and case studies that showcase how your product, service or employees went beyond expectations or helped solve a problem.
If your business is mentioned favorably in the media, quote from the story.
Be sure to get written permission to use quotes from blogs, articles, letters, emails or any other comments you receive as testimonials.
The most powerful testimonials are detailed, specific and not too long.
It's best to use real names and titles, affiliations and locations.
In ads and on your website or blog, keep comments short and set them off clearly with quotation marks, contrasting colors or italics.
If the comments are worded awkwardly, ask if you can edit them so they read better.
Whenever possible, have photos to accompany the testimonials that are provided to you.
Social media is a great way to get testimonials and create customer/user-prospect interaction.
Spread your testimonials around on Twitter, Facebook and LinkedIn.
You can also upload video testimonials to a YouTube page or to your website or your blog.
CUSTOMER SERVICE
When Was the Last Time You Said 'Thank You'?
 Thanking your customers lets them know you value their patronage. It's also a great way to build loyalty and encourage repeat business. There are lots of simple, inexpensive ways to thank customers. Just saying "thank you" is a good first step.
Be sure to mean it when you say it. Face your customer and smile. Take five extra seconds to look the customer in the eye and say it sincerely so the person knows you are expressing a genuine, heartfelt sentiment. Make it personal by using the customer's name and mentioning why you're thanking the individual.
A handwritten note or letter is a good follow-up gesture. You can write "thank you" on an invoice or send a handwritten card or letter after a purchase or service. Address the note to the individual and be sure to mention the occasion for thanks. Sending a thank-you email can be effective, although it does not have the same impact as a handwritten note. Don't try to promote new products when thanking a customer. Including a business card with your thank-you note is fine, but making a blatant sales pitch is tacky.
Say thanks with great service. Following are some ways to do that:
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Do something extra, and then note it on the invoice as "complimentary" or "no charge."
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Give regular customers thank-you discounts with coupons or special offers.
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Refer business to your customers.
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Bring jobs in ahead of time or under budget.
Before sending a thank-you gift, know your firm's gift-giving policy. Many companies have limits or guidelines on giving gifts.
Picture credit.
REAL ESTATE
The Three Phases of Environmental Assessments
When buying commercial property, an environmental site assessment (ESA) is an essential part of the due diligence process. Property owners and buyers should be aware of the three phases involved in a detailed ESA.
Phase 1: The purpose of the first phase is to establish the baseline environmental conditions, identify any environmental compliance deficiencies and provide the necessary information for buyers to make an informed decision. Typically, an engineering company is employed to do this.
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The first step is a records review. The company hired to conduct the assessment will look at historical and current documentation on chemical use and disposal, past assessments, and engineering reports to identify any potential issues that may not comply with environmental standards.
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The company will then make a site visit and investigate any potential issues. A site visit primarily involves a visual inspection.
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Interviews may be conducted to ensure compliance with environmental standards.
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Finally, an initial evaluation and report is compiled. Remediation or further investigation may be recommended.
Phase 2: The objective of the Phase 2 assessment is to characterize the environmental condition of the property. This is usually conducted when environmental contamination is suspected and further investigation is required before moving forward.
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The assessment team will develop and implement a work plan prior to moving forward. This plan should identify any limitations of the assessment process as well as lay out the procedures and focus areas.
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Next, the team will do a thorough investigation. This may include, but is not limited to, soil sampling, air-quality monitoring and groundwater sampling. The purpose of these tests is to identify any contaminants and their impact on the property.
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Finally, they will provide a detailed report of their findings. The report will summarize all the information obtained from the investigation. It will evaluate any trends or patterns and will provide detailed sitemaps and cross-sections to show patterns of contamination. The report will also include recommendations for areas that may require remediation.
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The company will provide a quote at this time for remediation of any contaminants affecting the site.
Phase 3: This phase is also known as the site remediation phase. This is the cleanup process of any property contamination. The cleanup process is detailed in the Phase 2 report. Cleanup could range from the removal and replacement of soil from a small area to total site decontamination. This obviously has an impact on the value of the property, and in some cases, the buyer may decide to proceed with the purchase at a reduced price. |