This old adage is overused by real estate agents and leasing companies to the point that it has lost its punch.
Let use as an example the last 2 stores that we opened.
The first store was a bit of a whim. Good traffic count but you can't throw a rock in any direction without hitting a gold buyer. The store has struggled to gain a foothold and in order to buy sufficient quantities of gold to be profitable, will require a significant amount of advertising and legwork to network with the other businesses in the area that can refer business.
The second store was planned on to be the 1st but licensing in that area takes nearly 3 months. Once it opened it did more business in 10 days than the first store did in 6 weeks.
The lesson was brought home to me while driving to a potential licensee. The road I was on has between 30,000 and 70,000 cars a day - depending on who you believe. More importantly - there is one gold buyer in a span of 3 towns - each of which would support a stand alone store. This location is about 30 minutes from store #1.
Location, Location, Location
Friday, September 10, 2010
Tuesday, August 10, 2010
Kiosks
You know how sometimes statistics just grab you?
Last year we tried an experiment of opening kiosks in malls in the Nashville market to buy gold. The kiosks also had Chamilia charms for sale but that has never amounted to much other than being a time consuming distraction.
The kiosks never generated enough to pay for themselves - the holidays were the best and they bought a bunch of gold, the problem was that the rent for a kiosk in the mall during the holidays went up to $8,300 a month and that pretty much ate up the extra.
But if a person is already operating a profitable kiosk, consider buying gold as well.
Non Holiday months the kiosks bought 13.85 toz on average for a gross profit of $5,332.75.
Holiday Months the kiosks bought 48.12 toz for a gross profit of $18,526.20. Nice extra income, huh?
Gross profits are based on spot prices averaging $1,100 and a 35% gross margin - buying from your customers at 60% and selling to us at 95%.
The interesting part is this - where did our customers come from?
13.18% from Radio
14.12% from word of mouth referrals
57.06% saw the kiosk in the mall
1424% were return customers
1.40% came from misc., marketing.
The key is - if people see that the kiosk is buying gold you should be able to add significant profits.
It ain't rocket science.
Last year we tried an experiment of opening kiosks in malls in the Nashville market to buy gold. The kiosks also had Chamilia charms for sale but that has never amounted to much other than being a time consuming distraction.
The kiosks never generated enough to pay for themselves - the holidays were the best and they bought a bunch of gold, the problem was that the rent for a kiosk in the mall during the holidays went up to $8,300 a month and that pretty much ate up the extra.
But if a person is already operating a profitable kiosk, consider buying gold as well.
Non Holiday months the kiosks bought 13.85 toz on average for a gross profit of $5,332.75.
Holiday Months the kiosks bought 48.12 toz for a gross profit of $18,526.20. Nice extra income, huh?
Gross profits are based on spot prices averaging $1,100 and a 35% gross margin - buying from your customers at 60% and selling to us at 95%.
The interesting part is this - where did our customers come from?
13.18% from Radio
14.12% from word of mouth referrals
57.06% saw the kiosk in the mall
1424% were return customers
1.40% came from misc., marketing.
The key is - if people see that the kiosk is buying gold you should be able to add significant profits.
It ain't rocket science.
Sunday, July 18, 2010
Which Way Do I go?
The Alice in Wonderland question. Alice asks the rabbit which direction she should take and the rabbit asks her "Where are you going?". When she responds that she doesn't know the rabbit tells her, then, that it doesn't matter which way she chooses.
So perhaps the question is: "Where do I want to go?"
Some real soul searching has to come into play here because just because you want to become Donald Trump or Bill Gates doesn't mean you have the tools to get there.
America is still the land of opportunity - you just have to visit the land of reality before you get there.
If you are going into business you have to decide where your strengths and weaknesses lie.
From a sales standpoint - if you can develop relationships quickly, establish rapport easily and have developed an insensitivity to rejection then you may want to try a home based business. You have to understand that in choosing this method you are swapping $0.00 overhead of a store for a life of prospecting and cold calls and developing a referral base.
If you know that you can't make yourself consistently prospect then you should strongly consider opening a store in a high traffic location - that is going to take some money and some commitments.
I have done both and there are pro's and con's to each. I have trained myself to make cold calls and I can do it - although it is much like physical training for me - I'm pretty sore for the first few weeks but I get re-conditioned for it and I'm OK.
There are always trepidations in opening a store because now you have a lease, you have utilities, you have additional liability insurance, licensing, employees, security systems.... and it takes about $35,000 to really do it properly.
What about the people that fall in between - can someone who has the ability to run a store but not the sales skills to cold call be successful?
(Just a hint - the answer is always "Yes" you just may not like the qualifiers.)
Consider setting up your Gold Buying Operation in an existing store that has similar demographics to yours.
There is no magic answer but you may consider paying the proprietor a flat rent or a percentage of the gold you buy.
This business is simple - it is a matter of eyeballs on your signs. Enough eyeballs on your signs and you have a steady stream of gold sellers. Daily traffic of 3,000 cars will produce less than 10,000 cars, which will produce less than 20,000 cars and on and on.
Look for a location that you can get good signage and a decent traffic count. The rest will take care of itself as long as you take care of the people that find you.
Buy a Bunch!
So perhaps the question is: "Where do I want to go?"
Some real soul searching has to come into play here because just because you want to become Donald Trump or Bill Gates doesn't mean you have the tools to get there.
America is still the land of opportunity - you just have to visit the land of reality before you get there.
If you are going into business you have to decide where your strengths and weaknesses lie.
From a sales standpoint - if you can develop relationships quickly, establish rapport easily and have developed an insensitivity to rejection then you may want to try a home based business. You have to understand that in choosing this method you are swapping $0.00 overhead of a store for a life of prospecting and cold calls and developing a referral base.
If you know that you can't make yourself consistently prospect then you should strongly consider opening a store in a high traffic location - that is going to take some money and some commitments.
I have done both and there are pro's and con's to each. I have trained myself to make cold calls and I can do it - although it is much like physical training for me - I'm pretty sore for the first few weeks but I get re-conditioned for it and I'm OK.
There are always trepidations in opening a store because now you have a lease, you have utilities, you have additional liability insurance, licensing, employees, security systems.... and it takes about $35,000 to really do it properly.
What about the people that fall in between - can someone who has the ability to run a store but not the sales skills to cold call be successful?
(Just a hint - the answer is always "Yes" you just may not like the qualifiers.)
Consider setting up your Gold Buying Operation in an existing store that has similar demographics to yours.
There is no magic answer but you may consider paying the proprietor a flat rent or a percentage of the gold you buy.
This business is simple - it is a matter of eyeballs on your signs. Enough eyeballs on your signs and you have a steady stream of gold sellers. Daily traffic of 3,000 cars will produce less than 10,000 cars, which will produce less than 20,000 cars and on and on.
Look for a location that you can get good signage and a decent traffic count. The rest will take care of itself as long as you take care of the people that find you.
Buy a Bunch!
Wednesday, July 14, 2010
Handling Ad Calls or Price Calls
One of the prevailing techniques that Gold Buying Stores use that simply baffles me is in NOT giving out their prices when people call in to shop. Dumb, Dumb, Dumber and Dumb again.
Always go back to the origin: Why are people calling you?
Because they have gold to sell.
Why are they asking for your prices?
Because they want the most money they can get.
No, not really.
Price is important and you have to be competitive - but they are asking your price because they don't know what else to ask!
You want to position yourself as the most helpful and enjoyable person to buy gold. This will pay huge dividends in repeat and referral business as well as in allowing you to not have to be to highest price store all the time.
When someone calls in asking your prices DO NOT BE EVASIVE
Ask them: "Would you like the quote in grams or penny weight?"
More than likely you are going to be asked the difference - explain it to them in as much detail as you can.
"Thanks, by the way for calling, I do appreciate it. There are 31.1 grams in a troy ounce and there are 20 penny weight in a troy ounce. It is very important to ask what scale the buyer is using when you get quotes because penny weight always sounds like more".
"May I ask what prices you've been quoted so far?"
"How have you been pricing your gold? "
"Do you go on line and check spot prices?"
"Has anyone ever explained the spot market to you?"
"Has anyone taken the time to show you how to break down the spot price into grams and pennyweight?"
"What karat gold do you have to sell?"
"Do you know how to determine how much pure gold is in the jewelry?"
After every one of these questions that you ask insert an invitation to the store.
"I'd be happy to show you how to do that and then you'll always know why you are getting paid that amount rather than just what you are being quoted, can you stop by?"
"If you'd feel more comfortable come in without your gold and I'll show you how we evaluate it."
Of course, give them your prices in here as well if they ask.
You have to remember that jewelry is a mystery to most people. They consider it complicated and simply don't ask enough questions.
People want a good price for their jewelry and this is not a method to take advantage of them.
People want more to feel good about the people that they deal with. Once that is accomplished then the price becomes less important.
Ask questions that make your customer glad that they called you.
Always go back to the origin: Why are people calling you?
Because they have gold to sell.
Why are they asking for your prices?
Because they want the most money they can get.
No, not really.
Price is important and you have to be competitive - but they are asking your price because they don't know what else to ask!
You want to position yourself as the most helpful and enjoyable person to buy gold. This will pay huge dividends in repeat and referral business as well as in allowing you to not have to be to highest price store all the time.
When someone calls in asking your prices DO NOT BE EVASIVE
Ask them: "Would you like the quote in grams or penny weight?"
More than likely you are going to be asked the difference - explain it to them in as much detail as you can.
"Thanks, by the way for calling, I do appreciate it. There are 31.1 grams in a troy ounce and there are 20 penny weight in a troy ounce. It is very important to ask what scale the buyer is using when you get quotes because penny weight always sounds like more".
"May I ask what prices you've been quoted so far?"
"How have you been pricing your gold? "
"Do you go on line and check spot prices?"
"Has anyone ever explained the spot market to you?"
"Has anyone taken the time to show you how to break down the spot price into grams and pennyweight?"
"What karat gold do you have to sell?"
"Do you know how to determine how much pure gold is in the jewelry?"
After every one of these questions that you ask insert an invitation to the store.
"I'd be happy to show you how to do that and then you'll always know why you are getting paid that amount rather than just what you are being quoted, can you stop by?"
"If you'd feel more comfortable come in without your gold and I'll show you how we evaluate it."
Of course, give them your prices in here as well if they ask.
You have to remember that jewelry is a mystery to most people. They consider it complicated and simply don't ask enough questions.
People want a good price for their jewelry and this is not a method to take advantage of them.
People want more to feel good about the people that they deal with. Once that is accomplished then the price becomes less important.
Ask questions that make your customer glad that they called you.
Friday, July 9, 2010
Boost Retail Profits
Up to this point we have talked about building a Gold Buying Business from home, but many of our licensees - in fact the fastest growing segment, are retail store owners that ad value to their store buy buying gold, silver and platinum from their customers.
Think about this - in a tight economy people hold off buying because they don't have disposable cash, right?
Remember the last time you found a $20 bill in your pocket?
Most women who are 35 years old or better have over $200.00 worth of old, broken or unwanted jewelry in their jewelry box that they haven't worn for more than a decade and very likely will never wear again.
These customers also want to do business with people that they feel comfortable with.
Here are some other statistics that make this an interesting proposition:
The stand alone stores that we have opened have all followed the same pattern.
It takes 2 weeks of having signs out before the neighborhood starts to notice.
It takes 5 weeks of having signs out before the 'buz' starts in the area and word of mouth starts to build a steady flow of business.
No amount of advertising significantly impacts those numbers.
So - if you are in a relatively high traffic area (25,000 cars a day) you should expect to be buying around 30 to 50 ounces of gold a month within 90 days - as long as you can get eyes on your store!
So Check out these numbers:
It can cost as little as $200.00 plus the cost of the gold to get started - a good package with a Legal for Trade Scale and quality diamond and stone tester will run in the $850.00 range. We've assembled various kits at our website as well as a great sharing section that is filled with and constantly updated with new ads, fliers, marketing ideas, etc. that our members may use at no charge.
http://www.thegoldbuyernetwork.com/ will get you there.
Think about this - in a tight economy people hold off buying because they don't have disposable cash, right?
Remember the last time you found a $20 bill in your pocket?
Most women who are 35 years old or better have over $200.00 worth of old, broken or unwanted jewelry in their jewelry box that they haven't worn for more than a decade and very likely will never wear again.
These customers also want to do business with people that they feel comfortable with.
Here are some other statistics that make this an interesting proposition:
The stand alone stores that we have opened have all followed the same pattern.
It takes 2 weeks of having signs out before the neighborhood starts to notice.
It takes 5 weeks of having signs out before the 'buz' starts in the area and word of mouth starts to build a steady flow of business.
No amount of advertising significantly impacts those numbers.
So - if you are in a relatively high traffic area (25,000 cars a day) you should expect to be buying around 30 to 50 ounces of gold a month within 90 days - as long as you can get eyes on your store!
So Check out these numbers:
If you buy 5 ounces of Gold per month $1,800.00
If you buy 10 ounces of Gold a month $3,600.00
If you buy 20 ounces of Gold a month $7,200.00
If you buy 50 ounces of Gold a month $18,000.00
It can cost as little as $200.00 plus the cost of the gold to get started - a good package with a Legal for Trade Scale and quality diamond and stone tester will run in the $850.00 range. We've assembled various kits at our website as well as a great sharing section that is filled with and constantly updated with new ads, fliers, marketing ideas, etc. that our members may use at no charge.
http://www.thegoldbuyernetwork.com/ will get you there.
Thursday, July 1, 2010
First Steps
The similarities between coaching athletes and business people always amaze me and it is often helpful to compare on to the other. My athletes respond better to stories about coaching business people than they do to direct criticism, and vice verse.
Bio-mechanics are essential to an athlete. Learning basic movements, determining exactly what leverage points are best for that person and understanding that they are absolutely unique is essential to effectively training.
Yesterday I had a new athlete in the gym. He is obviously gifted and has been lifting weights somewhere, but no one has ever taught him proper mechanics - the first step. We worked on the 3 core lifts - Squat, Bench Press and Dead lift. He was OK on the bench - not great and he didn't appreciate my fiddling with his leverage. He was a little more receptive in the dead lift - they all are because none of the kids dead lift without a gun to their head. When it came to the squat his form was so bad that I couldn't put weight on the bar.
Here is the key - if he will work with me and allow me to refine his first steps - his bio mechanics within 3 to 4 weeks he will be faster, jump higher, quicker and stronger without adding one muscle fiber to his frame. He is simply going to learn how to use the body that God gave him.
As a business person you have to do the same thing.
All of us with experience are like the athletes coming to the gym to bench press - we already know it all and any critique is resented - but it is exactly at this point that we need to have the humility to focus and learn.
Break down your first steps. Break down your limiting factors and get the coaching that will help you break through.
As a Gold Buyer the hardest thing to get down is setting the event - the gold parties at businesses or homes.
The presentation begins before you get there - what does your dress communicate about you?
Have you managed your appearance to communicate your message for you?
Where did you park? Are you right in front of the door making it less convenient for the stores' customers to come and go?
What did you do when you pulled into the parking lot? Did you sit in your car, make phone calls, psych yourself up and otherwise creep out anyone inside the store? Or did you pull in, park well away from the door, get out of the car in a timely fashion and present yourself in a friendly and non-threatening manner?
Yesterday, before practice, I was in a corporate store.
A man pulled into the parking lot and sat in the car for at least 5 minutes.
I was about to leave but the store manager asked that I stay until the man came in.
I did, and for 5 minutes it appeared that this guy was running a mobile office. he parked in the 1st parking space next to the door and by the time he came in the branch manager was convinced that he was an ax murderer.
Needless to say, when he started his pitch (which did not begin with a question of our need) he had already lost the battle.
Think about your first steps.
What is your approach?
Is your appearance congruent with your request?
Where do you park? (If you need prep work or a 'psych up' do it somewhere else - not in the parking lot of the company you are pursuing).
What are you conveying as you walk into the business - yes they are watching you.
How do you open?
Get your first steps down. Analyze them often and refine them constantly.
Bio-mechanics are essential to an athlete. Learning basic movements, determining exactly what leverage points are best for that person and understanding that they are absolutely unique is essential to effectively training.
Yesterday I had a new athlete in the gym. He is obviously gifted and has been lifting weights somewhere, but no one has ever taught him proper mechanics - the first step. We worked on the 3 core lifts - Squat, Bench Press and Dead lift. He was OK on the bench - not great and he didn't appreciate my fiddling with his leverage. He was a little more receptive in the dead lift - they all are because none of the kids dead lift without a gun to their head. When it came to the squat his form was so bad that I couldn't put weight on the bar.
Here is the key - if he will work with me and allow me to refine his first steps - his bio mechanics within 3 to 4 weeks he will be faster, jump higher, quicker and stronger without adding one muscle fiber to his frame. He is simply going to learn how to use the body that God gave him.
As a business person you have to do the same thing.
All of us with experience are like the athletes coming to the gym to bench press - we already know it all and any critique is resented - but it is exactly at this point that we need to have the humility to focus and learn.
Break down your first steps. Break down your limiting factors and get the coaching that will help you break through.
As a Gold Buyer the hardest thing to get down is setting the event - the gold parties at businesses or homes.
The presentation begins before you get there - what does your dress communicate about you?
Have you managed your appearance to communicate your message for you?
Where did you park? Are you right in front of the door making it less convenient for the stores' customers to come and go?
What did you do when you pulled into the parking lot? Did you sit in your car, make phone calls, psych yourself up and otherwise creep out anyone inside the store? Or did you pull in, park well away from the door, get out of the car in a timely fashion and present yourself in a friendly and non-threatening manner?
Yesterday, before practice, I was in a corporate store.
A man pulled into the parking lot and sat in the car for at least 5 minutes.
I was about to leave but the store manager asked that I stay until the man came in.
I did, and for 5 minutes it appeared that this guy was running a mobile office. he parked in the 1st parking space next to the door and by the time he came in the branch manager was convinced that he was an ax murderer.
Needless to say, when he started his pitch (which did not begin with a question of our need) he had already lost the battle.
Think about your first steps.
What is your approach?
Is your appearance congruent with your request?
Where do you park? (If you need prep work or a 'psych up' do it somewhere else - not in the parking lot of the company you are pursuing).
What are you conveying as you walk into the business - yes they are watching you.
How do you open?
Get your first steps down. Analyze them often and refine them constantly.
Thursday, June 17, 2010
Plan your work and work your plan
Sounds like common sense, doesn't it?
Lay out what you plan to do.
Lay out what you expect your actions to accomplish.
Do it!
Amazing how people get so busy that they don't accomplish a thing, so here are a few guidelines to help you move in the right direction.
If you are a goal setter narrow your goals down to the top 3. (Before you ask, no - you can't have any more!)
I don't care how many stories you've heard about Lou Holtz who, reportedly, at a young age, wrote down about 105 things that he wanted to accomplish in his lifetime, including dinner at the White House and coaching Notre Dame.
I guarantee you that at any given time he was not concentrating on more than three goals at a time - and more often than not he was concentrating on ONE.
If more got accomplished then it was because there was a cascading effect and the priority lead to the others (Dinner at the white house because he was coaching at Notre Dame).
Now - take your goal and break it down to the next 90 days.
Now break it down to the next 30 days and determine what needs to happen in each 30 day time frame to get you where you want to go.
Finally, break that down to minimum daily activities that you have to accomplish in order to hit your targets.
Most people set goals and then put their heads down for the next 90 or 180 days, bull forward and when they finally pop their heads out - it doesn't matter if they read the things 14 times a day - they are surprised that they aren't where they want to be.
That's like putting your car in drive, putting a brick on the accelerator and expecting to drive from New York to California - and then being surprised when you don't make it down the block.
Just for today - take your top 3 priorities and break them down to minimum daily activities.
Let me know what your 'To Do' list looks like then.
Coach B
Lay out what you plan to do.
Lay out what you expect your actions to accomplish.
Do it!
Amazing how people get so busy that they don't accomplish a thing, so here are a few guidelines to help you move in the right direction.
If you are a goal setter narrow your goals down to the top 3. (Before you ask, no - you can't have any more!)
I don't care how many stories you've heard about Lou Holtz who, reportedly, at a young age, wrote down about 105 things that he wanted to accomplish in his lifetime, including dinner at the White House and coaching Notre Dame.
I guarantee you that at any given time he was not concentrating on more than three goals at a time - and more often than not he was concentrating on ONE.
If more got accomplished then it was because there was a cascading effect and the priority lead to the others (Dinner at the white house because he was coaching at Notre Dame).
Now - take your goal and break it down to the next 90 days.
Now break it down to the next 30 days and determine what needs to happen in each 30 day time frame to get you where you want to go.
Finally, break that down to minimum daily activities that you have to accomplish in order to hit your targets.
Most people set goals and then put their heads down for the next 90 or 180 days, bull forward and when they finally pop their heads out - it doesn't matter if they read the things 14 times a day - they are surprised that they aren't where they want to be.
That's like putting your car in drive, putting a brick on the accelerator and expecting to drive from New York to California - and then being surprised when you don't make it down the block.
Just for today - take your top 3 priorities and break them down to minimum daily activities.
Let me know what your 'To Do' list looks like then.
Coach B
Tuesday, June 15, 2010
Steps to Freedom
You know what is ironic? I've noticed this in me and in other entrepreneurs. I got started in business because I didn't want to have to work - so in order to fulfil that drive I ended up working my butt off for 25 years.
Just so you know - that is what it is going to take - working your butt off; but it is more than that.
A lot of people can work hard, and most people do work hard at the things they love. Its just that the things that most people love don't pay very well.
Let me give you an example of a college man who is one of the hardest workers I've ever known. He graduated this year with his Bachelors Degree and will be going to Grad School in the fall. He graduated at the top of his class in a very competitive school and ended up with very impressive credentials.
He decided that with the job climate this year that he would be a Gold Buyer.
It sounded easy: call on enough salons in May and early June to set up 40 Gold Parties through the balance of June, July and August.
He was told that it was a lot of work but he was used to putting in 80 to 100 hours of work between class, clinicals and homework - how tough could it be?
He tried to follow the formula in the free information that he found on www.thegoldbuyernetwork.com in the download $20,000 in 90 Days. He intended to call on 4 Salons a day until he had his 40 events booked.
He started Cold Calling because he didn't want to do as the instructions said and call everyone he knew to try to get referrals - he didn't want to bother them, perhaps he was embarrassed with what he was doing, who knows but...
The total number of calls was 6 and he was done. He couldn't take the rejection. He couldn't take the shock to his ego that the business owners didn't stand up and say "Thank God You've Come".
He is willing to work out and work as hard as anyone, but calling on business owners that he didn't know was just too much.
My cure for this comes from Brian Tracy - the first guru I ever listened to when I started out in business - I practically memorized the 6 tape program "The Psychology of Selling".:
"Do the thing you fear and the death of fear is certain"
I don't want to hear how tough it was after 5 or 6 calls, I might listen after 100, after 300 I'll have coffee with you, after 500 we can have a conversation, although I doubt it will be necessary by then.
Here is Coach B's training and conditioning tip for new business owners that are required to sell: Start off with baby steps and daily goals. If I am training a Gold Buyer I'm telling them to start day one and just go make friends with salon owners and go until you book 1 event on Day 1. Once you do that you are done for the day!
Day 2 - Go make friends with as many salon owners as you can and book 1 event. Once complete you are done for the day.
Days 3, 4 & 5 - Same thing
Day 6 Call all of the salon owners that DID NOT BOOK an event, tell them that 5 of their competitors booked at least one and did they want to get back together and set a date?
Day 7 Call all of the salon owners that did book a date and ask them if they know of anyone else in the business that might like to have a Gold Party to make a little extra money?.
Balance of days - follow up on all of the warm leads and referrals that you can - cold call if you must and book the balance of your events in the 1st 30 days.
Again, going back to Brian Tracy: his analogy of an airplane and a business is ideal - both expend the majority of their energy and their fuel in the take off phase - if you don't expend the energy required then you will never get off the ground - expend the energy and you will fly to the next set of issues.
Coach B
Just so you know - that is what it is going to take - working your butt off; but it is more than that.
A lot of people can work hard, and most people do work hard at the things they love. Its just that the things that most people love don't pay very well.
Let me give you an example of a college man who is one of the hardest workers I've ever known. He graduated this year with his Bachelors Degree and will be going to Grad School in the fall. He graduated at the top of his class in a very competitive school and ended up with very impressive credentials.
He decided that with the job climate this year that he would be a Gold Buyer.
It sounded easy: call on enough salons in May and early June to set up 40 Gold Parties through the balance of June, July and August.
He was told that it was a lot of work but he was used to putting in 80 to 100 hours of work between class, clinicals and homework - how tough could it be?
He tried to follow the formula in the free information that he found on www.thegoldbuyernetwork.com in the download $20,000 in 90 Days. He intended to call on 4 Salons a day until he had his 40 events booked.
He started Cold Calling because he didn't want to do as the instructions said and call everyone he knew to try to get referrals - he didn't want to bother them, perhaps he was embarrassed with what he was doing, who knows but...
The total number of calls was 6 and he was done. He couldn't take the rejection. He couldn't take the shock to his ego that the business owners didn't stand up and say "Thank God You've Come".
He is willing to work out and work as hard as anyone, but calling on business owners that he didn't know was just too much.
My cure for this comes from Brian Tracy - the first guru I ever listened to when I started out in business - I practically memorized the 6 tape program "The Psychology of Selling".:
"Do the thing you fear and the death of fear is certain"
I don't want to hear how tough it was after 5 or 6 calls, I might listen after 100, after 300 I'll have coffee with you, after 500 we can have a conversation, although I doubt it will be necessary by then.
Here is Coach B's training and conditioning tip for new business owners that are required to sell: Start off with baby steps and daily goals. If I am training a Gold Buyer I'm telling them to start day one and just go make friends with salon owners and go until you book 1 event on Day 1. Once you do that you are done for the day!
Day 2 - Go make friends with as many salon owners as you can and book 1 event. Once complete you are done for the day.
Days 3, 4 & 5 - Same thing
Day 6 Call all of the salon owners that DID NOT BOOK an event, tell them that 5 of their competitors booked at least one and did they want to get back together and set a date?
Day 7 Call all of the salon owners that did book a date and ask them if they know of anyone else in the business that might like to have a Gold Party to make a little extra money?.
Balance of days - follow up on all of the warm leads and referrals that you can - cold call if you must and book the balance of your events in the 1st 30 days.
Again, going back to Brian Tracy: his analogy of an airplane and a business is ideal - both expend the majority of their energy and their fuel in the take off phase - if you don't expend the energy required then you will never get off the ground - expend the energy and you will fly to the next set of issues.
Coach B
Monday, June 14, 2010
Self Reliance and Freedom
I make my living coaching business owners on developing businesses that function independently of their daily efforts.
I am also the CEO of a nationwide network of company owned stores, licensed stores and home based entrepreneurs in the precious metals industry.
My avocation is Power lifting, both as a Coach and as a competitor.
Today I have to begin by laying that foundation before I vent on the overwhelming pall hanging over so many people in this wonderful country of opportunity. I overheard two college students lamenting the fact that they had no summer job. A man who was repping a bench press of 405 lbs was laboriously explaining to me the details of his application for a permanent disability to the Social Security Administration.
I last had a job in 1987 and I will admit that leaving for the business world the way I did was not the smartest move I've ever made. I had no business skills. I had no idea that leaving bosses that I didn't really care for meant that pretty much everyone that I met was now my boss. There was no clue as to how a business worked or even why - all I knew was that trading dollars for hours felt like a form of indentured servitude and I didn't want that anymore.
I spent the next 10 years learning, practicing, failing, succeeding and starting the process over again. It has been 23 years now and I know that no matter what happens to me that I can make a living - and a comfortable one at that.
My heart breaks to see someone sell themselves into slavery like my friend who is applying for the permanent disability. He is mentally sharp - regardless of the pain that he truly has in his back. you make money with your brain, not your back!
When we decided to create the home based and store based licenses for The Gold Buyer Network I insisted that if my name were attached that people would see this presented as a tool to freedom. The cost of the tools is kept very low to encourage entry level business owners to take the business by the horns - yet expensive enough to get them to follow through.
The other criteria that I insisted on is this: www.thegoldbuyernetwork.com must tell people that the game plans contained in DID NOT WORK. No Businesses Plan in the history of business works - only people can bring a plan to work.
Regardless of the plan that you have you must understand that only you can make it work and only you can make it fail. It isn't easy - but the freedom that being a business owner brings is a gift equalled only by that of family.
I am looking forward to building this blog for entrepreneurs and wannabes. I truly enjoy working with business owners at my quarterly retreats and I'm hopeful that we can create similar synergy through this medium.
I am also the CEO of a nationwide network of company owned stores, licensed stores and home based entrepreneurs in the precious metals industry.
My avocation is Power lifting, both as a Coach and as a competitor.
Today I have to begin by laying that foundation before I vent on the overwhelming pall hanging over so many people in this wonderful country of opportunity. I overheard two college students lamenting the fact that they had no summer job. A man who was repping a bench press of 405 lbs was laboriously explaining to me the details of his application for a permanent disability to the Social Security Administration.
I last had a job in 1987 and I will admit that leaving for the business world the way I did was not the smartest move I've ever made. I had no business skills. I had no idea that leaving bosses that I didn't really care for meant that pretty much everyone that I met was now my boss. There was no clue as to how a business worked or even why - all I knew was that trading dollars for hours felt like a form of indentured servitude and I didn't want that anymore.
I spent the next 10 years learning, practicing, failing, succeeding and starting the process over again. It has been 23 years now and I know that no matter what happens to me that I can make a living - and a comfortable one at that.
My heart breaks to see someone sell themselves into slavery like my friend who is applying for the permanent disability. He is mentally sharp - regardless of the pain that he truly has in his back. you make money with your brain, not your back!
When we decided to create the home based and store based licenses for The Gold Buyer Network I insisted that if my name were attached that people would see this presented as a tool to freedom. The cost of the tools is kept very low to encourage entry level business owners to take the business by the horns - yet expensive enough to get them to follow through.
The other criteria that I insisted on is this: www.thegoldbuyernetwork.com must tell people that the game plans contained in DID NOT WORK. No Businesses Plan in the history of business works - only people can bring a plan to work.
Regardless of the plan that you have you must understand that only you can make it work and only you can make it fail. It isn't easy - but the freedom that being a business owner brings is a gift equalled only by that of family.
I am looking forward to building this blog for entrepreneurs and wannabes. I truly enjoy working with business owners at my quarterly retreats and I'm hopeful that we can create similar synergy through this medium.
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