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Category: Executive Coaching

Asking for the Sale and the Law of Diminishing Returns

Posted by on in Business Coaching, Executive Coaching, Marketing Strategy, SalesLeave a comment

Asking for the sale more often and more pointedly is often the number one way to improve sales numbers. Many people don’t do the ask for a variety of reasons such as not wanting to hear “no,” not confident in their service offering, and even lacking a clear understanding of their sales process. So, if sales are low, work on making some improvements and simply asking for the sale.

However, low sales can also be attributed to the opposite reason. You could be asking for the sale too much or too forcibly which leads to declining results. How do you know? The signs are often there. They may be subtle but knowing what to look for can help.

Here are Some Key Signs

  1. Customer Fatigue. If the customer starts to show signs of annoyance, disinterest, or even physical fatigue during interactions, it might be a sign that you are pushing too hard or too frequently. These can be evident through shorter responses, delayed replies, or a lack of enthusiasm in their voice or body language.
  2. Last Minute Objections. An uptick in objections or new objections late in the sales process can be a sign that the customer feels pressured.
  3. Decline in Engagement. If engagement levels drop – fewer questions are asked, slow or no reply to calls or emails, or hesitancy to schedule further meetings – it might mean the prospect feels overwhelmed or hassled.
  4. Stalled Sales Process. If you notice that despite multiple attempts to move the sales process along or to close the sale, you can’t get to the close, it might be a sign to ease back and reassess your approach.
  5. Decline in Relationship Quality. If the relationship starts to feel like it’s going south and more transactional and less friendly, often accompanied with a noticeable change in the tone of communications, this could suggest pushing too hard.
  6. Feedback from Customers. Direct or indirect feedback, where customers express a desire to slow down the process or mention being in contact with competitors, can signal the need to adjust your approach to asking for the sale.

To find the right balance in frequency of asking for the sale requires a little science and a little art. A clear strategy can help maintain a healthy sales pipeline while also enhancing customer relationships in the long term.

Keep These Points in Mind When Asking for the Sale

  1. Focus on building value and trust. Through a consultative and relationship building approach rather than a transactional approach, you can show the value of your offering and help your prospect trust it.
  2. Tailor your pitch to the customer’s personality and buying style. Knowing how they see the world can help you customize your approach better and work at their speed and style.
  3. Be observant to changes in their behavior and feedback. When you see changes, try to empathize and put yourself in their shoes and see your sales process through their eyes. If they look uncomfortable, ask yourself what might you be doing to cause that discomfort?
  4. Give it the time it needs. This is the hard one especially if you work on a quota basis and tend to procrastinate or have a driven sales approach. If you tend to push, you always run the risk of pushing too much and pushing your prospects away. If you can change your mindset, become the turtle rather than the hare, you can get better results as you learn to go slower to go faster!

The Power of Words: for Small Business Owners

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Coach Ernie

Words have great power. As small business owners, every dollar counts, every minute counts, and every word matters. In the world of business, our communication tools and the words we use with them can make or break us. How do I know? In my nearly thirty years of consulting and coaching, the one improvement opportunity that has always come up when working with an organization, is communication. Here are some reasons to pay attention to communication and the words you use.

1. The Art of Persuasion

Whether writing an advertisement or an email or a text, or doing a keynote presentation, the words are usually chosen to evoke emotion, persuade, and drive action. Your words can close doors or open them.

2. Building Trust and Authenticity

Your and your business’s reputation rests on the trust you build with your audience. Use words that resonate with honesty, transparency, and integrity. Share your stories, highlight customer experiences and testimonials, and allow your words to align with your actions. Do what you say you are going to do!

3. Create Your Digital Presence with Purpose

Your online presence, or lack of, can speak volumes. Even the smallest of businesses can derive benefit from a website and social media activity. So, be present online. Keep it simple, clear and concise, and engaging. A well worded post or tweet can help you find your tribe all across the internet and at little to no cost.

4. Navigating Change

Change is inevitable and change management is as important to small business owners as it is to CEO’s of major international corporations. And, technology driven change is a given and the speed of it can be overwhelming. Be ready, and use AEOI, Acknowledge the change, Empathize with your stakeholders, Outline solutions, and Implement. Rinse and Repeat.

AE and O are important steps to get to that place of Implementation. It’s the implementation that fosters long term resilience and loyalty.

Finally, your words matter. They can break relationships, or they can inspire others to act, build bridges, and transform losses into wins. So, choose your words wisely. Make them count!

Assumptions – And Pest Control!

Posted by on in Assumptions, Business Coaching, Change, Christy Austin, Coach Christy, Communication, Continuous Improvement, Employee Motivation, Executive CoachingLeave a comment

by Coach Christy Austin

Working with countless teams over the years has shown that assumptions are like a hidden pest. Like termites in the foundation, they erode our business, resulting in lower productivity, dissatisfied customers, and increased employee turnover. An assumption is defined as “an expectation believed to be true, without facts or evidence.” Though most are unaware, we each make hundreds of assumptions every day and don’t even realize it.

We make assumptions.

Our staff make assumptions.

Our customers make assumptions.

Our potential clients make assumptions.

This affects our overall success and often negatively impacts our bottom line!

Our own assumptions are laced through the DNA of our business. We know what we’re thinking, we know the culture we want, we know our values, we know our daily procedures, we know what we expect from employees, and we know how to work hard to make things work. But, does our team, or our customers, know these things? We often assume they do!

According to a recent Forbes Survey[i], the most common assumptions in the workplace that hold teams back include these.:

  • Management can’t be trusted.
  • I can’t make any mistakes.
  • If someone has an issue, they’ll speak up.
  • This is the way it has always been done.
  • Don’t fix it if it isn’t broken.

Obviously, most of our assumptions are automatic thoughts that “pop” into our minds. We never question them because we think they’re facts. Why? Because, much like family dysfunction, our assumptions are “normal.” They are familiar to us.

What assumptions did you make when you woke up today?

  • I’ll leave at my usual time because there’s never much traffic.
  • Our morning meeting will be productive.
  • The new hire probably won’t work out again.
  • My staff will work hard.

When I walked into my office this morning, I immediately sat in my chair, assuming it would hold me. I flipped a switch, assuming my lights would work. And I began typing away on a keyboard, assuming my computer would precisely function to answer dozens of emails. Interestingly, none of these assumptions are guaranteed and in fact, I’ve had many days these assumptions weren’t true – the chair broke, the lights didn’t turn on, and the computer didn’t send emails. Nonetheless, daily I assume each of these will happen normally without a second thought.

The greatest challenge with assumptions in the workplace is, most often, we can’t identify our own because they’re buried deep in our everyday function and routine. They come from our experiences. We don’t recognize these personal assumptions until they cost us something – time, money, valuable staff members, and other resources. In the end, just like with termites in the foundation, assumptions end up costing business owners much more than they realize!

So, what’s the solution, i.e., Pest Control?

Self-Awareness – Take time to become aware of assumptions, individually and as a team, and then we can begin to assess their validity through evaluation and dialogue.

Communication – Assertive communication is the key to dispel assumptions by ensuring others truly know what we expect, value, and need to maintain the culture and success of our business.

Policies and Procedures – A strong team culture is formed and maintained through simple and consistent procedures and policies, such as continuous improvement programs, which minimizes the pesky assumptions and guides us to achieve our goals and continued business success!

Do you know what assumptions are costing your team and your business?

Coach Christy can help you and your team with Pest Control to minimize those pesky assumptions and build a stronger team and more profitable and successful business. Give her a call today!

[i] https://www.forbes.com/sites/nicolebendaly/2019/07/05/14-assumptions-that-are-holding-your-team-back/?sh=aaee6da76ebf

The Dominance of Small Businesses and Word of Mouth Referrals: Did You Know?

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Last month, we listed some stats in our newsletter. If you read that, you know that 99.9% of businesses across the US are small businesses with nearly half of all U.S. employees being employed by a small business. Yet, over 8 out of 10 small businesses have no employees and just 16% of small businesses have 1-19 employees.*

Small businesses rule. So that’s interesting!

Also interesting, advertising accounts for just 1% of a business’s revenue on average.* So what gives? Aren’t we supposed to spend a bunch of money on advertising? Of course we can, if we want to see a low ROI. Or, we can go a better route.

Did you know, 85% of small businesses get customers through word of mouth referrals?!** It’s the number one way to generate revenue with search engines coming in at number two and 59%. Word of mouth referrals have the least cost in out-of-pocket expenditures and is based on the Know You, Like You, Trust You Principle and it works!

SO, WHAT TO DO?

  • Build and maintain your online presence, social media, GMB page, etc. Customers will check you out online to verify what they hear from others.
  • Survey your customers to understand what it is they Know, Like, and Trust about you.
  • Focus on customer service to create Raving Fans.
  • Ask for referrals and testimonials from those Raving Fans to help create buzz and spread the word!

* Forbes Advisor Small Business Statistics Of 2023

** Small Business Trends Philadelphia Survey 2014

Humor Is In the Eye of the Beholder!

Posted by on in Business Coaching, Employee Motivation, Executive CoachingLeave a comment

It’s good to have fun at work but you need to be careful with how fun and humor is defined. Horseplay is usually not recommended and often not allowed for good reason. Humor on the other hand is often allowed and even encouraged but it’s still good to be careful. It is useful to know that there are several types of humor that may, or may not, be appropriate in the workplace and when used inappropriately, can get you into hot water. When used appropriately, i.e., “Humor is in the eye of the beholder,” it can raise morale, build team spirit, and improve productivity!

Dr. Rod Martin, Department of Psychology, University of Western Ontario, and his fellow researchers have devised the Humor Styles Questionnaire that allows us to determine which of four styles of humor is being used more often in an organization. The four styles are Self-enhancing, Affiliative, Aggressive, and Self-defeating.

  • Self-enhancing humor is a type of mild humor used to enhance oneself.
  • Affiliative humor is used to enhance one’s relationships with others.
  • Aggressive humor is used to enhance the self at the expense of others.
  • Self-defeating humor is used to enhance relationships at the expense of oneself.

It’s fairly obvious that Self -enhancing and Affiliative humor can be more beneficial than Self-defeating and Aggressive humor. Most organizations have a combination of all four types of humor being displayed at various times and situations.

It’s always good to remember: Humor is in the eye of the beholder! If even one person thinks it’s not funny, it’s not funny. Most businesses don’t think about this, many don’t teach it to their employees, and many don’t consider how it impacts company culture, morale, and employee productivity.

If you are not sure how well your team is doing with humor, Give Us a Shout, so we can help you build a better workplace through positive humor for small business success!

Positive Pressure for the Long Game and Small Business Success!

Posted by on in Business Coaching, Change, Employee Motivation, Executive Coaching, Success QuotesLeave a comment

The journey of a thousand miles, as Lao Tzu said, begins with a single step. This ancient wisdom also applies to the world of small business where the prospect of starting a business from scratch, building a business over the long term, and achieving small business success, can often overshadow the significance and value of short-term objectives.

I often preach, play the long game. Start with the vision and work backwards to your daily task list. This works well but sometimes steps in the middle, such as quarterly or monthly goals, get missed. These short-term goals are important, for small business owners as well as their employees, to pay attention to but often get put on the back burner to make time and energy for the daily firefighting.

Short-term goals serve as a powerful catalyst for long term success, providing positive pressure and motivation that can move small business owners towards their vision. Specific and challenging goals lead to higher performance compared to easy or vague goals. Short-term goals, defined as objectives achievable within a year or less, offer immediate feedback and motivation, allowing business owners to adjust strategies and maintain momentum.

For employees, the benefits are just as great!

  • The immediacy of short-term goals provides a sense of urgency, creating positive pressure that can motivate employee action and foster a culture of achievement within the organization.
  • Short-term goals can also enhance one’s belief in one’s ability to succeed. Achieving them can boost employee confidence, reinforcing the belief that larger objectives are attainable. As motivational guru Tony Robbins once said, “Setting goals is the first step in turning the invisible into the visible.”  
  • Short-term goals can serve as steppingstones towards long-term objectives, breaking down complex tasks into manageable parts. Known as “chunking,” this process can reduce mental stress and improve employee productivity. It also allows one to leave their comfort zone much more easily. Only through discomfort can we achieve more.

“Move out of your comfort zone. You can only grow if you are willing to feel awkward and uncomfortable when you try something new.” – Brian Tracy

Unlock Your Business Superpowers! – Socratic Dialogue and High-Performance Coaching for Greater Success

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High-performance coaching involves supporting individuals, business owners, and their team, so they are able to achieve high powered results. Socratic dialogue, a back-and-forth questioning process and a tool in the EA Lewis & Associates toolbox, is highly effective for high performance coaching due to its emphasis on critical thinking, reflection, and self-awareness.

If you want high powered results to grow your business more efficiently and more effectively, whether by defining your USP, creating a new service offering, or getting your team members to lean in, Socratic dialogue can help. Here’s how it works:

  1. Self-awareness: High performance requires a deep understanding of oneself, one’s strengths, weaknesses, motivations, and personal roadblocks. Socratic dialogue, with its emphasis on introspective questioning, can facilitate this self-understanding. A coach will help you answer questions about your own beliefs, actions, and motivations and help you discover insights about yourself that you may not have been aware of.
  2. Critical Thinking: High performance is often about solving complex problems, and this requires strong critical thinking skills. Through Socratic dialogue, a coach can guide you to challenge your own assumptions and consider different perspectives, fostering your ability to think critically and solve problems effectively.
  3. Goal Setting and Achievement: Socratic dialogue can be used to support setting and achieving your goals. By questioning you about your goals, why you want to achieve them, and how you plan to do so, a coach can help you develop a clear and achievable action plan.
  4. Breaking Through Barriers: Often, what stands in the way of high performance are mental roadblocks, such as limiting beliefs or fears. Socratic dialogue can be used to uncover these barriers and challenge them. For example, if you believe that you are not capable of achieving a certain goal, your coach might use Socratic questioning to challenge this belief and help you see that you are indeed capable.
  5. Continuous Improvement: High performance requires continuous improvement, and Socratic dialogue fosters a mindset of continual learning. By repeatedly questioning and reflecting on one’s actions and beliefs over time, one can consistently identify areas for improvement and take action to develop in these areas.

Ready to unlock your true potential and take your business to the next level? EA Lewis & Associates is here to help you do just that. Click HERE to set up a free chat with one of our high-performance coaches who will help you figure out how to excel in what you love doing! Just tell us what you love, what you want to do, and we will match you with a coach to get started!

Work from Home & the Long Game

Posted by on in Business Coaching, Change, Covid-19, Executive Coaching, Success Quotes2 Comments

As the economy opens back up, many people will be finding working from home as part of the new norm. Some business owners and employees want it, some not so much. Wherever you stand, if you have not settled into the WFH format yet, here are a few tips to get you there.:

Think Habits – Our habits determine our success. Do the right things, do them consistently.

Establish Routines – Get into a rhythm and stay there as best you can. Map out your days and your ideal calendar to help you stay on task and avoid distractions. If the first Monday of the month from 8:00 – 12:00 works best for admin work, make it so every month.

Be Professional – Some people can be productive in their jammies. If that is you, awesome. If you need to shower, shave, and put on a suit, do that. If you need to do a Zoom meeting, be sure to follow the prescribed dress code!

Find Your Space – If you do not have a separate home office space with a door, do your best to create a space that will work for you. Find a corner of the family room or basement, set-up a desk, put a calendar on the wall, and whatever else you need to say, “This is my work space and don’t bother me when I am here.” Train family to respect the work schedule and workspace as best as possible.

Self-Care – Be careful this does not get lost in the confusion of being at home vs being at work. Take care of yourself first so that you can take care of everything else.

• Take frequent breaks – get up and walk around, get a drink of water, etc.
• Disconnect when you need to especially from the social media blitz.
• Remember, me time is allowed and necessary.

Finally, WFH is likely to be a large part of the new norm. We were trending that way before Covid-19 and we are definitely there now. So, plan for the long term to WFH and remember a key element to a successful work from home effort is communication. When people are at a distance, we can lose sight of the need for and the effectiveness of our communication so…

Include this last tip into your routine: Call first, call often!

Let me know, how do you find success with WFH?

It’s Not About Change…

Posted by on in Business Coaching, Change, Covid-19, Executive Coaching, Success QuotesLeave a comment

It’s about adapting to change.

Change is the norm. Always has been. Covid-19 has been a big change for sure and it’s effects are likely to continue for some time to come. So, the key is adapting and doing our best to adapt well for the long term. Here are a few key points for adapting to change. 

The Three P’s

Be Positive – As much as possible, keep it optimistic. Our tendency is to initially fear the sky is falling but that rarely happens. Think about worst case and be prepared as best you can but hope for the best.

“Optimism, when applied to your life, develops strength and peace within you.”

– Norman Vincent Peale

Be proactive – Sudden change will give rise to fear and put us in a reactive mode, i.e. fight or flight. Self-directed change or change we prepare for allows us to respond in a more logical manner for better results. Develop contingency plans and robust systems so when the need arises, you are ready to go.

“It will never rain roses: when we want to have more roses, we must plant more roses.

– George Eliot

Be Purposeful – Set your goals, both short term and long term, based on your core values. Doing so allows you to go after them and move with purpose. That purpose gets you out of bed in the morning, it helps you dispel any doubts, and it helps you to be ready for any storm that may come.

“Occupy your thoughts with purpose and you will be so busy pursuing a meaningful future there will be no time for doubt, chaos and disappointment.

– Carlos Wallace

Do your best to be positive, proactive and purposeful and you will weather the storm.

Let me know…how are you handling the change?

Rock on!

Batten down the hatches…

Posted by on in Business Coaching, Change, Covid-19, Executive Coaching, Success QuotesLeave a comment

shipstorm
Batten down the hatches!

Weathering the storm is the norm right now.  Battening down the hatches is necessary to help ships keep water out and stay afloat in stormy waters.  In days long gone, the key elements “to batten” include the wooden grates over the hatches in the ships deck, the tarps thrown over the hatches, and furring strips nailed around the edges or ropes to hold the tarps in place.

Four key business elements that help batten down the hatches during troubled times include:

  1. Map out your marketing strategy – having this in place and effective implementation are critical always but especially during the storm.  Keeping your marketing active versus cost cutting approaches makes all the difference between businesses that survive and those that thrive.
  2. Diversify your customer base and service offerings – As a part of 1. above, diversity helps to keep your business off the revenue rollercoaster through tough times as well as any usual seasonal effects.
  3. Plan worst case…sound strategic planning includes what if worst case scenarios most of which won’t ever happen.  But if they did, you are more likely to have a contingency plan ready to go and even if you don’t have just the right plan, working through scenarios is good practice and helps to ensure you and your team can meet the challenge when the need arises.
  4. Set aside a rainy day fund – Every cent counts and even a small rainy day fund sets the right tone for your team from core values to daily cash flow management.

“If you would be wealthy, think of saving as well as getting.”
Benjamin Franklin

If you didn’t have these four key business elements in place before the Covid-19 pandemic hit, you might be feeling the pain.  If so, triage your business and get through as best you can.  When you get a moment and catch your breath, schedule a time for you and your team to take a look at the four key elements above so when the next storm comes, you can batten down the hatches!