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Small Businesses Can Sell the Black Friday Way

black_fridayHere we are … it’s Black Friday – the day when, historically, retailers get into the black. So they’re hoping that people shop, shop, shop.

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marylynnBlack Friday has almost become a sporting event. I just don’t enjoy shopping that much so it’s not for me. But plenty of people sure do enjoy trying to find that irresistible bargain.

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georgeI don’t like standing in line for anything but I especially don’t like doing it to spend money! Crowds are great – at a concert or a ball game!

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In honor of Black Friday, we want to talk about merchandising in your business. We’ll discuss four lessons you can learn from retailers about selling your wares.

Price check in Lane 123
If you’re a true retailer – you buy goods at wholesale and resell them – it’s easy to determine your cost.

If you’re a service business, it’s more difficult. But you have to know how much anything you sell costs or you risk charging too little. A lot of small business owners fail for this very reason. 

Attention K-Mart Shoppers. There’s a blue light special on …
K-Mart had scrapped this program. They brought it back earlier this year.

Surprise your good customers with a special deal now and then. We heard about a car dealer who would occasionally pick a customer whose car was getting serviced and give them their service that day for free. It created tremendous goodwill.

It would be a customer who had bought the car from him and did all their service with him. In other words, a customer on whom he made a lot of money. Occasionally giving them free service was just a small rebate.

But it paid dividends to the car dealer as well – he got a lot of word of mouth advertising.

Manager on duty to the front of the store please
The front of the store makes us think about the psychology of buyers. Have you ever noticed how most grocery stores have a fairly similar layout?

Research shows that most people walk into a store and turn to the right. So what do you want to put in the front of the store on the right side?

High margin items, of course!

In a grocery store, you notice the milk and eggs are usually in the back – nowhere near the bread. They want you to walk through the whole store so you see more things you might buy on impulse.

Every business has customers who behave in similar ways. Get to understand how you can naturally show your customers more of your products and services.

Clean up in aisle 5
Just about every business that handles inventory ends up with some slow moving items. You need to clean them out so you can get new inventory in that will turn faster so you make more money.

The mistake some small business owners make is being afraid to discount an item – especially for lower than cost. But the sooner you get an item that isn’t selling off your shelf, the better.

Another version of this is displaying a discounted item with a full-priced item. Think about it …

How many times do you see a skirt that’s on sale displayed with a full-priced top?

You like the combination so you buy it. You may be able to do the same type of thing in your business.

Retailers have become pretty sophisticated at discounting items to draw people to their store. They know the law of averages means these people will buy a lot more than just the sale items. Find the lures to bring in your customers and you’ll be a bigg success!

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Thanks so much for reading our post today. Please join us next time when we’ll look at the only three ways to get more done. Until then, here’s to your bigg success!

 

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00526-112709.mp3

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A View that Leads to Bigg Success

watchBigg success is life on your own terms. Our focus today is growth, one of the five elements of bigg success.

We tend to avoid information that’s not consistent with our beliefs. There’s been a long-running debate between psychologists:

Do people actively avoid contradictory information or is it a more natural process? For example, it may be that we don’t hear opposing views because we hang out with people like us.

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Some new research [PDF] (led by a psychology professor at the best school in the world, the University of Illinois) has answered that question.

If you seek opposing views, you’re in the minority

The research confirms that people do avoid ideas that disagree with their own. They did this study to “see … to what extent people are willing to seek out the truth versus just stay comfortable with what they know.”

The researchers found that two-thirds of us choose information that supports what we already think. However, the more interesting part of their research to us was this:

They found that two types of people are more likely to listen to alternative points-of-view:

People who are confident in their own beliefs

We were out with a friend right after we read this research. The timing was perfect. She’s very politically active – politics is one area the researchers cited that we’re particularly reluctant to consider the other side.

Our friend told us that she no longer subscribed to a certain magazine. She said that she found she always disagreed with their point-of-view. After further discussion, it was clear that she’s not confident in her opinions.

If she had confidence in her opinions, it wouldn’t bother her to read the other side. In fact, by reading the other side, she might gain confidence in her positions. Or she might change her mind, but be more confident in her new opinion.

The best way to confirm your opinion is to continually test it against all the information available. Talk with people who hold counter opinions. Read everything you can. Try to balance opinions on all sides of an issue before arriving at a conclusion.

Even then, continue testing that opinion with any new evidence you find, both pro and con. Then you’ll have confidence in your opinions.

People who have to defend their ideas in public

It’s interesting that the researchers cite the much-maligned politicians here. Politicians constantly have to defend their point-of-view.

They serve as an example to us. Don’t keep your opinions to yourself; defend them.

We should point out two things here:

  • You have to be careful discussing certain subjects with certain people.
  • We’ve talked about things here in very black-and-white terms. Obviously, many if not most issues are full of grey. That’s what makes for interesting discussion!

When you do discuss your ideas, you will hear other points-of-view that you can synthesize with your own. Your ideas will sharpen and grow. So will your confidence in what you believe.

That’s bigg success … as long as you agree with us!

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Get the tips and tools you need to be a BIGG success.
Subscribe to the Bigg Success Weekly – it’s FREE!

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Thanks for reading our post today. Please join us next time when we’ll discuss what we can learn from cats about communication. Until then, here’s to your bigg success!

 

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00438-071609.mp3

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(Image in today's post by adzica)

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Getting to Know You – Part 1

personalitytype_logoToday on The Bigg Success Show we visited with Paul D. Tieger. Paul is the author of the million copy best-selling book “Do What You Are” along with four other books. He is an internationally recognized expert on personality type and has created a personality assessment, Personality Type, which has been rated “extremely” or “very” helpful by over 40,000 people.

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marylynnPaul, we define bigg success as life on your own terms. Knowing who you are is implicit in that definition. There are a lot of personality tests. Why yours?

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paul_tiegerYou’re right. There are a lot of personality tests and I think they all try to do the same thing. The one that we’ve developed is the gold standard. It’s based on the Young – Myers model of personality type that a lot of people know about. Our test really identifies the key aspects that are critical to finding work that they’ll find intrinsically satisfying and being able to succeed in those jobs based on the insights they get on their personality type.

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georgeI have to tell you, Paul. I took your free test. It’s only four questions. It took me about five minutes. It sounds easy, but I may have failed!

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paul_tieger
Whoa! Whoa! Whoa! You can’t fail a personality test!

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georgeI marked “not confident” on two of the four questions, which meant I got more information about that particular aspect. It’s fantastic. But, for instance, I ended up saying I was an introvert. But everybody I talk to says that I’m an extrovert. When I look at the descriptions you have, which were very helpful, it seems like I’m about fifty -fifty.

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paul_tiegerHere’s the thing. There’s no psychological instrument that is 100 percent accurate. That’s why you have that cool little drop down box when you’re “not confident” that helps you figure it out. Nobody is exclusively an extrovert or an introvert, but everybody is primarily one or the other. Sometimes it takes a little digging. What happens when you take this personality assessment is that you come up with a personality profile. If it turns out that it doesn’t hit the nail on the head, then you can look at other profiles. It’s really rare that a person has to do this more than two times to find their true type.

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Get the tips and tools you need to be a BIGG success.
Subscribe to the Bigg Success Weekly – it’s FREE!

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marylynnI found out that I’m an “ESFP” which means I’m an Extrovert, Sensor, Feeler, and Perceiver. It says that only four to nine percent of the population is this type of person. I’ve always felt that I was different and this just verified it for me!

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paul_tiegerThere are sixteen different personality types. Every type has its strengths and its blind spots. Every person is unique. You can be in a room with a hundred other ESFPs and you’ll have a lot in common. You’ll have a great time because ESFPs do like to have a good time.

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marylynn
That’s me!

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paul_tiegerBut you’re all different – different backgrounds, parents, experiences. You live in different parts of the country. It’s a very individualized thing, but learning about your type is really your home base. It’s the essence of who you are. For ESFPs, these are people who really live in the moment. They’re very resourceful. They like to enjoy what they’re doing. They’re very social people. They like to take care of other people and make sure everybody gets what they need.

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marylynn
Going back to what George was saying, I also have some introverted qualities but you’ve already answered that when you said that we all are introverts and extroverts.

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paul_tiegerIt’s really a preference. It’s like handedness. Some people are born righties; some people are born lefties. I believe that, after having done this for about 25 years now, people really are born with a personality type preference. You grow and you learn as you get older. But you’re either a righty or a lefty. Let’s say you’re a right-handed person by nature. You can learn to use your left hand if you work at it, but it’s never going to be your natural, default setting. It’s the same thing with personality type. If you’re a sensing type, then you’re a person who’s pretty realistic and practical, sees the details, and focuses on what’s going on in the moment. It doesn’t mean that you have no imagination or that you can’t be creative. It just means that’s not your first mode. Somebody else might be very creative and that’s where they go automatically.

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georgePaul, I write left-handed. Most things I do right-handed. The first ball glove my Dad bought me was a left-handed glove. But I’d take the glove off and throw with my right hand. So, related to personality types, if there are things that you admire about an extroverted personality, is it possible – or is it good – to try to move yourself in that direction?

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paul_tiegerIt’s a good question. I found that the people who are the most successful in any of their endeavors are really the people who have the most balance. That doesn’t mean they’re androgynous – that they’re equally both – because I believe that people have a natural in-born preference for each of these categories. But if you are so extroverted that you have to be with people 24 / 7 – you can’t be alone or you can’t read a book – that’s not good. If you’re so introverted that you can’t look somebody in the eye or you can’t do anything with other people, that’s not good. So fortunately, all of us have a balance but there really is a natural preference from where you get your energy. The key is to understand who you are because that’s really the key to your career satisfaction. Then build on your strengths while being aware of your blind spots so you can compensate for them.

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georgeThat is really helpful. I want to take the test again now, thinking about my natural tendency but also keeping in mind that’s it’s not all I’m going to be.

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paul_tieger
Well, I think your Dad screwed you up with that left-handed glove!

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george
And that’s just one of the many ways!

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What is your personality type?

You can find out by taking the free personality test we discussed today.

*Special Offer: To get a 10% discount on your full career report, use promo code: biggsuccess

Tomorrow we’ll continue our discussion with Paul. Please check back to discover how knowing your personality type will help you find new opportunities in today’s tough job market.

Thanks so much for putting up with our goofy personalities today! Until next time, here’s to your bigg success!

 

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00418-061709.mp3

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(Image in today's post from PersonalityType.com)

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The Art of Delivering Value

delivery_car Today on The Bigg Success Show, we were privileged to visit with Benjamin Klein. Benjamin is the CEO for The Art of Charm, a highly successful coaching service. He is an expert in the psychology of sales, management and success. He has used that knowledge to create an upcoming program called Success Principles.

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marylynn
What is one of the most important success principles?

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benjamin_kleinThe most important success principle for me has always been to say what I mean and mean what I say. It’s very important to come from a position of honesty and integrity and to do things that not only create value for you, but also for those around you. You don’t go into it dependent on the outcome, whether it will be reciprocated or not. If the value is reciprocated, they are the type of person you want to work with. If the value is not reciprocated, you have saved yourself months of time dealing with someone you don’t want to work with. You give up a little bit upfront, but that just comes with honesty and integrity and knowing that you’re creating value for those around you.

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marylynnDo you have a value-offer model for some of our business owners who are listening today? Any suggestions for those people who have been offering something that isn’t working, that’s not getting them the leads they were hoping for?
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