Gumming Up the Works

Here's something to chew on as you think about your business plans for the coming year:

A young entrepreneur moved from Philadelphia to Chicago in 1891 with $32 in his pocket and the idea of selling his family's scouring soap to customers. As an incentive, the 29-year-old offered free baking powder with each soap purchase.

Before long, the baking powder became so popular that he began selling it instead. He then came up with a new incentive: two free packages of chewing gum with each can of baking powder sold.

As you might have guessed, the gum proved more popular than the baking powder, so he decided to change his product line once again. And that is how William Wrigley, Jr., started one of the most iconic brands of chewing gum on the market today.

In business (as in life), things don't always go exactly as we plan. Markets change, technologies evolve, and what worked yesterday won't always work today, tomorrow, or down the road.

Knowing when -- and how -- to adapt can mean the difference between success and failure for any enterprise. In Wrigley's case, that meant understanding his customers' evolving needs -- and adapting his product line to meet those new demands.

What will it mean for you and your company in 2012? Only time will tell, so be prepared to recognize new trends, embrace new attitudes, and adapt your plans accordingly.

Seven Steps to a Better Sales Letter

Even in today's increasingly wired world, sales letters remain a staple of most sales processes. Whether on paper or by email, a well-crafted sales letter can help reinforce your sales message, convey information about your products, break the ice, and warm a cold call. Here are seven tips to help you make your sales letters more appealing.

1. Plan ahead. Outline your thoughts before you start drafting your letter. Decide what you want to say and how you want to say it.


2. Start strong. If you're not sure how to open your letter, consider a quote, anecdote, story, or other attention-getting device. But keep it short. Remember, you want to get the reader's attention... not get it and then lose it right away.


3. Don't bury the lead. Avoid the temptation to "build excitement" for two or three paragraphs before revealing your reason for writing. Come out and state it right away in the opening paragraph or two. If you're offering a discount or requesting a meeting, say so up front. Your reader is busy. Respect their time.


4. Use short, active sentences. Your letter will flow better and be easier to read. By the same token, keep the tone conversational and avoid exaggerations, embellishments, and flowery prose.


5. Consider headlines and bulleted lists. Busy readers are far more likely to skim your letter than to read it word for word. Headlines and bulleted lists will help draw attention to the points you want to emphasize.


6. Add a P.S. A reader's eyes are naturally drawn to the P.S. line when they read a letter, so use a P.S. to restate your offer or emphasize a key point you made elsewhere in your letter. Consider making it a handwritten P.S. (depending on your penmanship) for even greater effect.


7. Proof it carefully. Don't rely on your software's spell-checker to catch every mistake. Ideally, you'll want to print the letter out and proof it on paper, rather than just proofing it on screen. If time permits, allow a day between the time you write the letter and proofread it, so you see your words with fresher eyes and a more objective point of view.

4 Steps to Turning Objections into Sales

Objections are a natural part of virtually any sales process. How you deal with them will go a long way in helping you close more sales. Here are four steps to help you turn objections into sales:

1. Believe in what you're selling.
It's always easier to convince someone else to buy your product or service if you truly believe doing so is in the best interest of the customer. When you believe in the products you sell, your passion and enthusiasm shine through. So make sure your products and services are worthy of your talent and time. If they aren't, decide why not. Then improve them until they are.

2. Anticipate objections.
What potential worries might prospects have when they first see your products? The specifics will vary of course based on the kinds of products you sell. For some, there might be pricing concerns or worries over setup costs and the learning curve. For others, security, safety, or support might be more apropos. Whatever the case, think of as many objections as you can ahead of time, then look for creative ways to address those issues as part of your presentation. Prospects will feel more confident investing in your products or services once they see how much thought and effort you put into overcoming the "real world" challenges facing them.

3. Listen... and hear.
We've all heard the adage that we have two ears and one mouth so we listen twice as much as we speak. In sales, listening is essential -- as is truly hearing what a prospect is saying and determining what they really mean by what they say. So how can you improve your listening? Start by asking questions and restating the concerns a prospect shares with you, so you're sure you understand them properly. All of this will go a long way in helping you connect, build trust, and reach a mutually beneficial sale.

4. Remain positive.
This is potentially the hardest step to follow. No one likes to hear criticism leveled against the products and services they've worked so hard to develop, build, and sell. But objections are natural, and they aren't personal. Remember that the customer is just trying to make sure they get the best value for their hard-earned money. So try not to get defensive when someone raises an objection. Instead, try to get to the bottom of what's causing the concern, so you can address it properly and help the prospect feel more comfortable about the sale. Stay as professional and upbeat as you can. Don't sugarcoat legitimate concerns, but don't get shaken, either. Remember that objections are a part of every sale.

Are You Just Spending Time...or Investing?

December is a time of reflection for many of us, as we approach the end of one year and the start of another. Recently, I ran across a quote from Helen Keller that I thought fit this spirit well, and I wanted to share it with you here.

I will not just live my life.
I will not just spend my life.
I will invest my life.

As you probably know, Helen Keller was an incredible woman who, despite being born both blind and deaf, became an accomplished author, speaker, and activist. She invested her life helping others, and the world was better for it. In her lifetime, she inspired many with her words and actions alike, even earning the Presidential Medal of Freedom from President Lyndon Johnson in 1964.

I like the idea of life as an investment. Unfortunately, in our busy and hectic world, it can be easy sometimes to forget that time is our most precious commodity and that we must do more than spend it. We must invest it in the people we care about, the causes that inspire us, and the businesses we're working to grow.

So how are you investing your life? And how do you plan to invest it in the year ahead?

Michelangelo once wrote, "The greatest danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it." Make sure you're aiming high and investing your life wisely.

Why Your Business Needs a Portfolio

When many people think of a portfolio, they think about job hunting. However, portfolios can be a valuable tool for any type of business. A portfolio can not only help you showcase your products and marketing efforts, but it can also help you organize your achievements, such as special certifications, awards, letters of recognition, thank you letters, customer testimonials, and more. In addition, a company portfolio can be a great training tool for new employees, merging businesses, or joint ventures with other organizations. Here are a few tips for creating a company portfolio you can be proud of:

• Designate one person in your company to be in charge of your company portfolio.


• Consider inserting documents or photos into plastic sleeves or pockets in a three-ring binder. Not only are the pages protected, but they can also be reorganized.


• Use labeled tab dividers to organize by date and/or topic.


• Include original documents and marketing materials whenever possible, and do not write on the documents themselves. Instead, insert a piece of paper to highlight the date or write other notes.


• Keep separate binders for news articles, advertisements, promotional materials, certifications, awards, etc.


• Create a marketing binder that highlights all of your print materials, from simple, one page product flyers to product catalogs. This is also a great way to keep track of previous promotions, past products, and messaging.


• Create a reminder in your calendar to update your portfolio regularly (monthly or quarterly) so information doesn't fall by the wayside.

Marketing Your Goodwill

In the business world, the benefits of charitable giving are two-fold: Giving lets you not only help those who are in need, but also enhance your company's reputation. Many customers show increased loyalty toward generous brands. Here are a few creative ways to market your goodwill:

• Encourage customers to purchase from you rather than your competition by designating specific products or services for your charity. For example, "5 percent of proceeds from all XYZ pet products purchased benefits local animal shelters."


• Add a feature section to your website, highlighting your charity. Include a link to the charity's website, as well as information about any upcoming charity events.


• Create a giving campaign for your charity, and encourage customers to join in. This will help build stronger relationships with your customers and nurture a sense of pride in helping toward a common goal. For example, you might try something like this: "We will donate $1 for every canned food donation we receive during our Annual Food Drive for the Hungry."


• Send a press release to local media to publicize your donations to charities.


• Promote your charitable involvement in your newsletters, flyers, brochures, advertisements, etc.


• Promote your charity at your business. Make brochures about the charity available, include charity flyers with purchases, hold internal fundraising contests, etc.


• Advertise your products and services in your charity's preferred communication vehicles, such as newsletters.


• Offer exclusive discounts to people involved with your charity.


• Donate items to your charity that they can use for raffles or other fundraising events. The presence of your donation is an advertisement in itself.


• Instead of sending customers Christmas cards or gifts, let them know you are making a contribution to your charity instead.

Of course, while corporate giving is a great way to build your business, don't forget that your primary motivation should be to help others.

Trade Show Fashion Faux Pas

It doesn't take a fashion expert to know that some things don't belong at trade shows. Here are a few examples of what not to wear at trade shows and other business events:

• Too much or too little. There is nothing worse than freezing or sweating at a networking event. Dress in comfortable layers that you can easily add or remove as needed, such as a suit jacket over a dress shirt.


• Clothing without a pocket or two. Pockets are always handy for business cards, pens, breath mints, etc.


• New shoes. While new shoes may look nice, nothing looks worse than missing out on important introductions because you can't stand to be on your feet. Trade shows usually involve long hours and lots of standing and walking. Stay in the game by picking a shoe that's made for walking, or watch the competition walk all over you.


• Cologne. Fragrances should be alluring, not overpowering. If you are within talking distance and can smell someone's perfume or cologne, it is too strong.


• Clothes which are too tight, too short, too revealing. No matter whether your pants are popping a button because they shrunk in your closet or are snug by choice, clothing that is too tight is not only unprofessional but distracting.


• Gaudy jewelry. You want to be remembered for your personality or impressive product knowledge, not your giant jangling earrings or over-jeweled hands.