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August 2007

Friday, 17 August 2007

How to use a cover letter in a bid

The role of the covering letter is to do four things:

  1. Thank the client for the invitation to bid
  2. Reinforce your unique value proposition, that is, why us?
  3. Identify any administrative issues like number of binders, CD's included and so forth, and anything you want to draw particular attention to like any special discounts in this case
  4. Indicate who the prime contact is

Sunday, 05 August 2007

How to build price and value

The most popular question I’m asked by salespeople I work with is “How do I get a better price for what I am selling?” It’s a question that gets to the whole art of the sale. If my primary focus is on price it means that my customer can’t differentiate between the cost of the product and the price she is willing to pay. The bigger the difference between these two things the more she will pay. A low differentiator means the sale is really just taking an order. So how does a seller add value and get a bigger price? Value starts with the customer because it’s a measure of how much you know about what they want. This means spending more time with them, studying their issues and opportunities, asking them more questions and working with them. The measure of your willingness to do this is the measure of the value you will create and the price the customer is willing to pay. So to build your price go ahead and invest in building real customer value better than anyone else can.

How important is empathy in influence?

If you are a doctor in the US empathy could keep you out of jail.

A study reported in Malcolm Gladwell’s book Blink compared doctors who were sued most often and those sued least often by their patients. Doctors who were never sued spent more than 3 minutes longer with each patient than those who had been sued. (18.3 minutes versus 15 minutes). And if the doctor’s voice sounded less dominant and more concerned the surgeon was in the non-sued group. It came down to respect and that was a matter of tone. So it seems if you spend a little longer with the person and sound less dominant you may be building a better relationship. What are your thoughts?

Influence and client relationship books

Blink by Malcolm Gladwell
In Blink Gladwell talks about the importance of "thin slicing" and "impressions". He argues that our subconscious can do many important roles, and much quicker than our conscious mind is comfortable with. Have a look at the separate posting on this blog called 'The power of the subconscious'.

Psychological Types by Carl Jung
Building Jung’s model is like building a clock. You begin at 12 o’clock with perception, that is, becoming aware of something. Then along the vertical perceiving line you draw from 12 o’clock downwards you arrive at 6 o’clock and begin thinking about what you are taking in, Jung called this judgement. Then along the vertical line at 3 o’clock you begin processing this experience by firstly reflecting on your experience then at 9 o’clock you act on your reflection. Jung referred to these two dimensions as introversion (reflecting) and extraversion (acting).

Spiral Dynamics by Don Beck and Chris Cowan
This is the most comprehensive coverage of Spiral Dynamics. There is a separate posting on this site called "The Spiral Dynamics of Selling".

The Selfish Gene by Richard Dawkins
Dawkins rewrote evolution theory and invented the concept of the meme - the package if thought that replicates like a gene. If you like popular science you've like Dawkins.

Man's Search for Meaning by Viktor Frankl The original and best book on motivation and the theory of why. Look for the separate posting on this book on this site.

About Learning by Bernice McCarthy This is the person who developed the 4Mat system of learning and leading by focusing on the questions why, what, how and so what?

The Seven Value Hats by Edward De Bono
This is where De Bono explains how values are the centre of decision making, "every decision we make involves values" says de Bono.

How Toastmasters builds confident speakers

Toastmasters are an international organization aiming at improving communication, presentation and leadership skills. Toastmasters work through a network of local clubs where members are encouraged to make presentations in a supportive and constructive environment. A typical Toastmasters club is made up of 20 to 30 people who meet once a week for about an hour. Each meeting gives everyone an opportunity to practice three things. Conducting meetings. Meetings usually begin with a short business session which helps members learn basic meeting procedures. Giving impromptu speeches. Members present one-to two-minute impromptu speeches on assigned topics. Presenting prepared speeches. Three or more members present speeches based on projects from the Toastmasters International Communication and Leadership Program manuals. Projects cover such topics as speech organization, voice, language, gestures, and persuasion. Every prepared speaker is assigned an evaluator who points out speech strengths and offers suggestions for improvement. There is at least one club, and often more, in each suburb. The best way to pick a club is to find out the details of a few local clubs and drop in to see how the club fits with what you are looking for. To find out more about toastmasters and find your nearest club visit www.toastmasters.org