OCTOBER 18, 2011 - General Meeting Luncheon
Jon Carter,
Boys and Girls Club
This month we tried something a little different. We chose to join forces with the Aberdeen Boys and Girls Club for a number of reasons. We felt it was a great opportunity for the local business owners to see what the Club is about, and how they are helping to develop the future work force here in Aberdeen. As local business owners we are always looking for ways to strengthen and support our community and this is a great way to start.
We also had the opportunity to bring in another local small business, Prost German Restaurant, who provided a fabulous meal of Gulasch with handmade spätzle, a side cucumber salad and the most wonderful apple strudel and raspberry cheese cake. My German ancestors would be proud!
It’s with all of us working together and supporting each other that makes this event, our Chamber and our community, even more special then I could have imagined.
Our sponsor Mike, with R.M. & R. Construction, spoke so briefly about his business, and in his words, “talking about my success doesn’t seem right, when the Boys and Girls Club is doing so much more. I give my time to them.”
This showed me how wonderful and gracious a person Mike is, and how it’s that type of ownership and dedication that he puts into his work as well.
Lance was given an award from the Boys and Girls Club, for all his hard work and dedication. I must admit, it was the first time I saw Lance speechless.
This event gave me such pride to be part of; it really showed what a great community Aberdeen is, and how much business men and women really do care. I look forward to more success stories such as this, and hope that this too inspires each of you to bring back the members who may have wondered away, and continue to support this great Chamber.
Special thank you to Denton Water Supply for the bottled spring water, Lucy’s Flowers for the beautiful table arrangements, and Prost for the donation of the elegant beer glasses, Diane, Randy and especially Jonathan, of the Boys and Girls Club. Great job Jonathan, you’re a natural!
It's your Chamber; I am here to make it stronger.
October 2011, JKL
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October 2011 Monthly Tips
Maximizing Your Price in a Soft Economy
Establishing maximum value for your price is never easy. In today’s volatile economy, it’s even more of a challenge. For most companies, costs are increasing, yet the ability to pass them along to the customer is fraught with numerous roadblocks. The customer’s response to a price increase is rarely positive, with the usual line of objections that go along with it. In addition, there are the concerns that a competitor’s price may undercut yours or that the customer may choose to go down a different path instead of buying from you at all. As big as these issues are, they pale in comparison to the number one roadblock to maximizing your price point: the confidence of the salesperson. The main reason why companies do not capitalize on their potential revenue is because their salespeople do not have the confidence to ask for and receive the highest price point. If a salesperson is secure in what they are selling and in knowing how the customer will benefit from their products/services, then they will be confident in asking for and getting the desired price point. The problem is that many times the salesperson lacks confidence in at least one of these areas, resulting in their inability to make their sales quota.
Vital Strategies to Limit Risk and Maximize Success
- Keep your day job (at least for now). You’re going to need the stable income from your job; this will provide you with a safety net while you transform into a Cre8tor.
- Other people’s talents. Enlist the support of others.
- Negotiate fiercely. As a Cre8tor, you must be relentless about getting what you need. One way to minimize risk is to negotiate everything. Negotiate discounts, concessions, bonuses, terms, etc. It will feel awkward at first, but keep practicing. Almost everything is negotiable, and most people can’t negotiate to save their life. Learning to negotiate effectively is one of the best skills you can ever learn.
- Make small bets. Would you throw all or you money on one number in roulette? You need to put a little out there and get a little back. Then you can put a little more out there and hopefully get a little more back.
- Limit liability. Don’t risk financial disaster by going naked (i.e., without shielding your personal assets from your business assets).
- Other people’s money. Warren Buffett famously said, "Rule No.1 is never lose money. Rule No.2 is never forget rule number one." Follow Buffett’s lead. Limit your risk to maximize your success.
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