Is charitable giving a part of your organizational practice? If so, kudos to you; you are well on your way to building a culture and financially optimized business.
Yes, you read that right, financially optimized.
If giving purely for altruistic reasons is not your thing, don’t worry; in today’s blog, I will share four reasons why you should make giving a part of your business plan.
Need a little more convincing how about $2.45 trillion reasons
“Omnicom Group’s Cone Communications study shows, 70 percent of millennials will spend more on brands that support causes—and with millennials representing $2.45 trillion in spending power, the subject of corporate social responsibility carries an unexpected level of clout.”
Reason Number 1: Employee Morale
Gen Z and Millennials share an appreciation for “Why”; their desire for purpose-driven work can help you retain these employees. In today’s climate retaining talent can be as important as generating new business.
According to a Deloitte study on volunteering, millennials were “twice as likely to rate their corporate culture as very positive” if their company participated in workplace volunteer activities. This is because employees respect companies that care for their community–it simply makes employees feel good and increases the emotional attachment to their employer.
Reason Number 2: Two for One Marketing Dollars
Charitable giving can be like doubling your marketing dollars. The goal of your marketing budget is to get your message in front of your target audience. One of the best ways to do this is by creating strategic partnerships with non-profit organizations that have similarly aligned missions to the product or service you provide.
For example, if your company makes sporting equipment, consider sponsoring local sports teams or tournaments. That will show your current and future clients that you care about your business and your community.
Reason Number 3: Uncle Sam is going to take it anyway’s
This is one of the most immediate benefits of corporate donations. You may not instantly see how your contribution benefits your community, but you will quickly notice the tax savings. Of course, businesses shouldn’t donate with the sole expectation of financial gain, but there are financial rewards for helping a charity in need. In addition, companies can usually receive tax deductions from sponsoring charities or events. Still, you should make sure to follow the rules and go about the process in the right way to comply with all tax requirements. Talk to your accountant about creating a charitable giving strategy as part of your revenue model.
Reason Number 4: Giving is Good
The final reason is arguably the most important. It feels good to know that you have found a way to help build your community. Plus, according to the Cleveland clinic, it can have the following health benefits;
- Lower Blood Pressure
- Increased Self-esteem
- Less Depression
- Lower stress levels
- Longer Life
- Greater happiness and self-satisfaction
Create an Action Plan
As today is Giving Tuesday, there is no better time to build a charity culture into your business practice. So here are a few different ways you to give back.
- Volunteer Day’s
- Event Sponsorship
- Sponsor Youth Sports or Programs
- Donate to research
- Charitable match program
- A competition where each team member represents a charity, whoever sells the most or exceeds monthly expectations the company will donate to their charity.
The options are endless and entirely up to you. If you need help creating a charitable process that will benefit the community and your bottom line click here and one of our coaches can help you design the best program for your organization.
Now get out there and give.
The concept of minding your own business means that while you are grinding away at your day job, you need to be investing in your future and minding your own business. Pretty soon, you’ll be able to walk away from that day job and mind your own business full time.
The best way to do this is through the acquisition of real estate.
Let’s take a quick look at where you are losing all your money in taxes. Taxes have been around since the dawn of organized civilization. While the original intention was to only tax the wealthiest of the population, obviously, that’s trickled down to the masses, including those in poverty.
Now, keep in mind the more money you make, the more taxes you pay. The wealthy know a way of getting around this by forming a corporation. Corporations offer tax benefits and protect you from lawsuits. To learn more about this, talk with one of our business coaches or your attorney.
We’ve all heard the golden rule of Pay Yourself First.
But many of us don’t do it. Until you learn and put this rule into effect, you won’t have any chance of getting out of the rat race. What this rule does is force you to come up with more income to pay your expenses.
There are some critical areas of finance you should learn about; taking classes is one of the best ways to do this. Here are the basics you should understand:
It pays to know how to read financial statements. When acquiring businesses or assets, you need to quickly see the financial standing of the company you are acquiring.
Many grown adults do not know how to balance a balance sheet. In the long term, this knowledge will pay off for you and your business.
This skill will sharpen with experience. Talk to investors and observe how they play the game.
Know the laws of Supply and Demand. No business owner can do without understanding these basic principles of the market. Bill Gates saw what people needed. Open your eyes to opportunities. Look at what sells and who buys.
Do everything you can to grow your business within legal boundaries. Know your corporate, state, and accounting laws.
Once you know these areas of finances, you can make them work for you. The rich practically invent money. You have to know where to find a great deal. Let’s continue with real estate. Look for houses in trouble or find the court in your area that handles foreclosed, police impound, or other real estate situations. You can either renovate and sell or rent for residual income.
So, essentially there are two main types of investors:
- Those who buy pre-packaged investments
- Those who create their own investments
You know which are the most successful. To be one of those people, you need to know what to look for and how to respond.
- Find a good deal other people have missed.
- Raise the capital needed for the transaction.
- Put together a high-performing team to execute the plan.
There is risk involved in every acquisition. The goal is not to avoid the risk but to respond to the threat with confidence and a steady hand.
If you need help identifying potential money-makers, where to get the capital you need, and how to put together an intelligent team, try our academy to access our resources and tools.
Claim your free 6-months trial of our E-learning academy by emailing Doogie at firstname.lastname@example.org. Offer is available to the first 12 respondents.
Today I’d like to discuss the science of memes and how the spreading of ideas is engrained in our human society.
An element of a culture or system of behavior that may be considered to be passed from one individual to another by nongenetic means, especially imitation.
- a humorous image, video, piece of text, etc. that is copied (often with slight variations) and spread rapidly by internet users
In our modern era, memes have become a cornerstone of our social media-filled lives. However, we never take the time to investigate why they spread so fast and how that affects consumerism.
You can use this same information to create a lasting positive impression about your company, products, and services. People are more likely to try a new product or service when they feel protected and reassured by the masses.
It’s been determined that spreading ideas is essential to the survival of a society. There are five main situations where this occurs. They are:
Think of Evangelism. This movement is a prime example of people not only spreading the word but also convincing people to jump on board and start spreading the word themselves. How did this movement do this?
They effectively incorporated a few key things that always catch people’s eye:
- The use of media: especially news. They associate their movement with polarizing events and caustic leaders.
- The power of selflessness, a massive piece of this movement, is that through association, you live a life of helping others and altruism.
- The power of exclusivity; it takes becoming a member to learn all the secrets. It comes in the form of in speak, opportunity, and ultimately community connections.
These are just a few lessons we can learn from this powerful movement if you think about your business marketing strategy. What elements do you have?
It takes these elements and more to go viral, which we will discuss in the next section.
Let’s Go Viral
While traditional marketing can be used to your advantage, the reality is viral and online marketing is the king of the castle. You can spread the word online like the plague if you know what to do. Here are some simple steps to do this:
- Find an interesting idea
- Make it easy for people to experience or try
- Spread the idea while people who are in close contact with others
- Take advantage of existing communication methods
- Develop the way of testing your product in such a way that it automatically draws more participants
Viral marketing is the new gorilla marketing; it creates channels to allow you to provide value to a lot of people. Thus giving them the best chance to advocate for your product or service. A few great places to try to create a viral marketing campaign are:
- Tik Tok
- E-Mail marketing
There are six things everyone should be doing to benefit from word of mouth on the Internet:
- Put WOM components on your website.
- Assign people to monitor your viral marketing.
- Place testimonials in different places on your website to walk a customer through the purchasing cycle.
- Set up an email marketing campaign.
- Stay up to date on what products and services the experts in your industry are recommending.
- Use your website & media to demonstrate the great ways people are using or finding success with your products and services.
This wraps up our lesson on how to apply the power of memes to your marketing. If you need help creating your own plan and discovering your business plan, feel free to contact us. We’re here to help.
Congrats, if you are reading this article, it is because you booked your first “Big Fish” meeting. If you have not, I suggest you start with the article “Let’s go fishing with Dynamite” it will take you to the beginning of this series.
Now that you have your meeting scheduled, there are a few things you need to do and consider to prepare for your first face to face meeting:
- Write down one primary goal for your meeting.
- Make a list of potential concerns from the client and prepare solutions.
- Loop in support staff and bring in as needed with you.
- Use and respect the clients’ format.
- How is your solution the best solution to solve their problem?
- Find ways to boost your credibility.
- Build and nurture relationships.
- Mindset Preparation
- Listen more than you talk.
- Learn from “no.” Find out what didn’t work, so you know how to change it for the next time.
- Be a doctor, not a lawyer.
- Think small to achieve big.
- Bend don’t break.
These tips are all essential things to do both before and during your presentation. However, it always important that no plan survives contact with the enemy. Be prepared to adapt and trust that you are the best person to solve their problem. Maintaining confidence in your company and product/service, you will catch that big fish.
The next step of the process is negotiation. This can seem a little intimidating, but a few tips and tricks can become natural to you.
Here are some tips to help you negotiated successfully:
- Build a pricing strategy and stick with it.
- Prioritize what you plan to offer. This should include what matters to you and what you are willing to give in on.
- Don’t give in too quickly.
- We negotiated with a person, not a “company.” Don’t let their answer be that they would like to but can’t.
- Don’t sell yourself short.
- Mitigate your pricing. If you go too low, you won’t be able to raise it back up, and you need to make a profit.
- Don’t sacrifice quality for the deal.
- Your services should always count as costs.
- Boost margins with add-ons.
- Handle requests for proposals with the utmost care.
These are the ways you make sure that both parties are getting the best possible situation from the partnership. Once you start meeting or working together, it’s important to continue to build your relationship so that that representative becomes a big of an ally for you. They are more likely to vouch for you and build on the partnership you have with their company.
We like to call this person a champion. They are champions for your company and can bring a more robust, brighter future to your company. Here are the characteristics of a grand champion:
- They are respected by supervisors.
- They are socially networked.
- They think in the best interest of their company’s long run.
- They can quickly navigate through the company to get things done.
- They are willing to give credit to another person.
- They share the same business philosophy, values, and vision as you.
Now that you know how to negotiate for what is best for both parties and build on relationships, we’re going to talk about how to use your fish’ power to the best of your benefit.
If you need help with any negotiation or courting processes, I am always available to help.
Now that you’re prepared to make your first impression, you have your plan and profile in place. It is time to think about how to match your big fish to the right salesperson. The process is all about matching the right salesperson’s personality/ style to the correct prospect.
Before we jump into this, make sure you go back and double-check your process because once we assign the salesperson, there is no turning back. The human factor and the benefits of each of your salespeople’s personalities will now come into play.
Ok, so now that you’re clear on making sure your process is ready, let’s talk about your salespeople.
You need to do this in two steps:
- Profile your salespeople’s personalities.
- Match the right salesperson to your target fish.
There are essentially three different selling personalities. Most salespeople are usually strong in two of the three arc types. It is crucial to think about your people and see which one each of them is.
This salesperson offers knowledge, experience, comfort, and trust. They can make a concerned customer feel at ease. It is their mission to educate the client to empower them to make the best decision. This salesperson tends to relay the logical information and speak to those benefits.
To be successful, they need plenty of information, a demo of the product/service, references, and case studies, if possible. They tend to shy away from using emotional appeals and staying grounded in the client’s needs, not their future wants.
Much like it sounds, this is a salesperson that shines at building relationships. They can instantly relate to the prospective client and make them seem like old friends in no time. They work best with clients looking for friendship, information, and a similar peer group as the salesperson. This can include anything from age and culture to hobbies and nightlife. While sharing experiences can be beneficial to creating a new relationship, your salesperson must always keep it professional and dignified.
This salesperson focuses on painting the picture of the ideal future state. They spend their time working towards the long term sale and only get a few big wins. They excel at upsells and cross-sales because they are seen as the guy for their customers.
The companion can get in trouble because they tend not to have a large volume of clients. In addition, their sales process takes longer than the others, which can cause trouble for high transaction volume businesses.
The resources this personality type needs are help pairing with the right client, schmoozing budget, and the correct information to meet the client’s needs. In addition, you should consider putting this person in a role working with the big clients that you need to maintain a relationship with.
Obviously, this personality type is a little more aggressive than the others. They are all about business and the bottom line. While this may seem harsh to many people, there is a set of business people who want the same thing and respect someone who can get down to business and the benefits of a partnership. This salesperson will need to be trusted with a bit of authority as they will likely be closing deals on the spot. They’ll need plenty of resources and access to products and services. They are best placed in environments where they can work independently, exercise their authoritative discretion, and seal deals quickly.
They are great in high-volume environments or with clients who want to make now decisions. You tend to see them work best with your straightforward type A personalities.
Pick the right map
Any of these salespeople can all be successful when used in the correct environment. You can easily see how matching the right salesperson for the client can secure more big fish and for a more extended period of time.
It is up to you as the business owner or sales manager to put your people in place to be most successful. It is also vital to create an environment for your sales team to work collaboratively vs. adversary. This way, you ensure that complimentary styles can share in the benefits. It is important to both have team and individual goals and bonuses.
If you need help figuring out how to capitalize on your sales team and land the big fish. Don’t hesitate to get in touch with one of our coaches. We would love to offer our aid.