Is the customer always right?
How often do you scramble to find answers to clients and feel that they are the stronger party in negotiations during a sales meeting?
As Entrepreneurs, we need to constantly work on our self-worth to realize that we don’t need to have all the answers immediately. We can work out our pricing, based on what was discussed in the meeting and come back to them with an answer.
And that sometimes we just need to think about it, or sleep on it first.
You deserve a win-win
I just read a disturbing article that showed that most of the JSE businesses and Government businesses don’t pay Small Businesses within 30 days. Sometimes they would even pay later than 110 days or the invoice gets written off by the business owner.
- In the same way as, Big companies have a Corporate Governance department that requests client testimonials for good payment, why don’t you request this from a client.
- Ask for a 50 % deposit upfront or a Full upfront payment.
If you must make a huge capital investment, for a deal, why should you be covering all the risk yourself?
Focus on the outcome, not on an hourly rate
I was deeply inspired by Douglas Kruger in his book -Is your Thinking Keeping you Poor, where he encourages the Entrepreneur & Corporate, to not charge an hourly rate. But to rather work out their rate based on the Outcomes that the client will achieve.
If you are giving Sales training or coaching for instance, what can the impact of that session have on their profits and their revenue? If you are helping people to be more accurate at work, how much are they saving through fewer errors?
If your service is saving them time, or streamlining their workflow process-how much is the hourly rate that they are saving on, that they can become billable themselves?
When you go to a vet, and they do a small procedure on your cat or your dog, they will still charge you quite a bit of money, not for the time used, but for their Intellectual property, their studies and to have a win-win for their business.
So, should you!
Have work-life balance
Elan Musk has set a terrible example for most business owners that are pulling “all- nighter’s” and very rarely sleeping more than 4 hours.
A leading professor in Neuroscience and Psychology -Dr. Matthew Walker is the world’s greatest Expert on sleep. He says that if you sleep less than 7 hours a day, you increase your chances of Depression with 22 %, Heart disease 73 % and Diabetes 18 %.
Furthermore, we immediately go into Fight and flight mode, if we lack sleep-which means we become super emotional, and struggle to think or act rationally.
We will probably have fights with clients, colleagues or our spouses and even are more prone to a car accident and making mistakes.
Let’s try the following things:
Learn to cater for a win-win for you and your business
Learn to say no and set healthy boundaries
Ask for references for payment from your clients
Ask for an upfront deposit or 100 % payment.
Sleep at least 8 hours every night
Relax in your downtime and recharge
Spend time in nature and enjoy your life!
Yoke van Dam is a catalyst for change, whether in a person, team or an entire company. She is a qualified behavioural change and leadership coach, public speaker, facilitator, trainer and sales consultant with more than 16 years’ experience.
Specialising in neurolinguistic programming, Yoke trains and coaches business leaders, executives, sales teams and individual staff members the tangible skills that can deliver the outcomes they want. She also presents keynotes in corporate and other settings to bring about positive change.
Her training specialties include sales, persuasion, presentation and emotional intelligence. She balances theory with practical solutions, and is highly adept at engaging her audience to be active participants in the development of these solutions so that they own them and want to make them work.
She has done several thousand hours of training and presentation to clients as diverse as sales executives, business leaders and owners, customer service agents, marketers, lawyers, engineers and accountants.
The industries she has covered range from automotive, retail, manufacturing and engineering to advertising, publishing, legal and academic.
Yoke has written for Entrepreneur magazine and contributes articles on emotional intelligence to the Female Entrepreneurship Collective. The video of her talk at Disrupt HR in Sandton, Johannesburg, in August 2018 became the most watched worldwide in the two weeks following the event. She is often interviewed on Mix FM and Radio Today.
Yoke got 10 years consultative sales experience working for Oxford Publishers, Pearson and Entrepreneur magazine. Additionally, she trained national sales team for Auto Trader, Commercial Trader, Auto Fuzion, Bikes and Corporate Sales. She developed team-building and staff dynamics workshops for Auto Trader and various companies. With her passion she founded Y-Connect in 2017.