Your Sales, Marketing, and Business Management Newsletter published monthly by
July 2010
STANDARD PRE-SORTED U.S. POSTAGE
PAID Murfreesboro, TN PERMIT NO. 86
Wax Family Printing, LLC
Address 215 MTCS Rd. Murfreesboro, TN 37129 Phone 615.893.4290 eMail letters@waxfamilyprinting.com Fax 615.893.4295 Web www.WaxFamilyPrinting.com
Inside This Issue:
Page 2
No Monkey Business!
Page 3
Sales Achievers
How to Use Constructive Criticism for Improvement
Page 4
Whole Ball of Wax Wax Family Printing is the only CPrint™® certified printer in Middle Tennessee.
Page 5
Catalogs & Manuals: Info at Your Fingertips
Tracking Your Sales Wins (and Losses)
Jeff Carlton Sales While it may be difficult to relive a major sales defeat, tracking both wins and losses will help your team to identify areas for improvement and learn valuable information about your key competitors.
8 Business Savvy
In addition to discussing the win or loss with the salesperson or team involved (reviewing their relationship with the prospect, sales process involved, and whether or not they anticipated the end result), your company should also schedule a follow-up interview with the prospect within two to four weeks of the final decision. Explain that you’d like to learn as much as you can about their buying decision. Here are a few tips on what information to gather when interviewing: • Ask what other companies were competing, and how your company compared (strengths and weaknesses). • What was their perception of your company before entering the buying cycle? Did their perception change? If so, how? • Ask prospects to rate your performance in three key areas: sales team, sales collateral/tools, and product features. Be specific, such as asking them to rank the salesperson’s product knowledge or account understanding on a scale of 1 to 10.
• Ask their opinion about your pricing structure. • Ask what the selection criteria was for the final decision. • If a loss, don’t simply ask why you lost. Ask why they won. Was it price? Product functionality? Perceived value? • If a win, would they participate in a testimonial, case study, or press release? • What advice would they offer for working with them in the future? If the prospect doesn’t have time for a sit-down meeting or phone discussion, ask if they would consider filling out your questionnaire via email at their own convenience. Following the interview, send a thank-you note to the prospect expressing your appreciation. Also, be sure to schedule an internal debriefing meeting to discuss the interview information and focus on how you can improve the next go-round. While you can’t win them all, your team should certainly give its best effort to try!
Page 6
In That Year
Creative Employee Incentives
How to Apologize and Mean It
Page 7
Book in Review: How Did That Happen? Guess Who I Am
Page 8
Tracking Your Sales Wins (and Losses)
Strictly Business
Business Quotes
Books in Review
“The greatest mistake you can make in life is to continually be afraid you will make one.” —Elbert Hubbard
As a follow-up to best sellers The Oz Principle
and Journey to the Emerald City, authors Roger
Connors and Tom Smith present the third book in their accountability trilogy, How Did That Happen?
“If your ship doesn’t come in, swim out to it.” —Jonathan Winters
Connors and Smith are partners and founders of
Partners In Leadership, Inc., a company that specializes in accountability training and education.
“Character is a diamond that scratches every other stone.” —Cyrus A. Bartol
Their book not only explains how to hold others
accountable, it also provides an array of practical
advice that can be easily remembered and applied in
“Most of the shadows of this life are caused by our standing in our own sunshine.” —Ralph Waldo Emerson “Those that make the best use of their time have none to spare.” —Thomas Fuller
Guess Who I Am
day-to-day situations. By following a series of steps
called the “Accountability Sequence,” readers are given clear-cut techniques to help them achieve successful accountability.
The Accountability Sequence includes two essential
How Did That Happen? Holding People Accountable for Results the Positive, Principled Way By Roger Connors and Tom Smith
components: “The Outer Ring,” which explains how to establish expectations and positive accountability
connections; and “The Inner Ring,” which explains
how to manage unmet expectations when people fail to deliver and correct the missed results.
Not only can this book give a new perspective on the
dreaded topic of accountability, it will also help leaders
Born in Albany, Georgia, in
1947, this woman graduated from Albany High School in
1965. She was married that same year and worked as a bank teller and homemaker. In 1989, she divorced her husband.
Left with only $200 to her
name, she packed up her two sons and moved to Savannah, where she used the cooking skills she
learned from her grandmother to start her own catering business
called The Bag Lady, where she prepared fresh sandwiches and
other meals to sell to downtown businesses and doctors’ offices.
Because she suffered from anxiety and agoraphobia (the fear of
public places) after being held at
gunpoint during a bank robbery, her sons delivered the meals.
Her down-home, Southern
have more empowering conversations and offers an
cooking skills were wildly
innovation in the workplace.
outgrow her kitchen and begin
inspirational resource for developing creativity and
successful, causing her to quickly working for a local restaurant. The regional specialties she
provided became the talk of
the town and influenced her to
open her own restaurant, which
No Monkey Business! While it may seem like we perform creative tricks when it comes to meeting tight deadlines, the team at Wax Family Printing doesn‘t monkey around. However, we will help make you the star of the show!
received many accolades from critics and media alike.
She then wrote several
cookbooks, appeared on QVC
and The Oprah Winfrey Show to promote them, and later got her
own cooking shows, for which she has won Daytime Emmy Awards. This successful chef,
restaurateur, writer, and TV
personality is found somewhere in Wax Family Printing, LLC
2 Business Savvy
Wax Family Printing, LLC
this issue of Business Savvy!
July 2010 7
In That Year
2002
How to Use Constructive Criticism for Improvement
K-Mart Corp. becomes the
largest retailer in U.S. history to file for Chapter 11 bankruptcy protection.
Kelly Clarkson wins the first
When working with other people, you are bound to be put in situations where constructive criticism is necessary.
The New England Patriots beat
accept) constructive criticism is an art. Have you perfected it?
American Idol contest.
the St. Louis Rams 20-17 in the Super Bowl.
It’s easy to be critical of others’ behaviors and work, and often easier to criticize, but the ability to give (and
Creative Employee Incentives In today’s competitive business climate,
Switzerland, traditionally a
many companies are developing creative
The Winter Olympic Games
While organizations have traditionally
neutral country, joins the UN.
are held in Salt Lake City, Utah. The Netherlands legalizes
euthanasia, becoming the first nation in the world to do so. Ann Landers dies.
The U.S. Congress authorizes
incentives to find and retain their best hires. focused on compensation as their primary deal maker, it takes a combination of
money, benefits, growth opportunities, corporate culture, and interaction with
upper management to retain top employees. If you are in a position to offer a few
the president to use force against
creative incentives to your employees,
The soundtrack to the film O
to see a few different incentives offered
Iraq if it does not disarm.
Brother, Where Art Thou? wins
five Grammy awards, including Album of the Year and Best Country Vocal.
or you are an employee that would like at your workplace, consider some of the
ideas on this list: project bonuses, optional vacation days, flexible working hours,
telecommuting or work-at-home option,
career-development opportunities, matching 401(k), stock options, relocation assistance,
casual dress code, educational assistance,
on-site exercise equipment or gym discounts,
complimentary or discounted snacks, meals, or beverages, or on-site daycare or child-care assistance.
Creative incentives not only show employees
that their contributions are valued, but they
also build a strong, loyal relationship between the employer and employee. And the bottom
line is that creative incentives like these make work more enjoyable for employees, which is one key element in the quest for long-term employee retention.
When used effectively,
No one likes admitting they made
a mistake, but mastering the art of
the apology is a crucial part of doing
business. Business relationships depend
on trust. Violations of that trust, such as
a missed deadline or a faulty product, can put a serious damper on those business relationships.
Apologizing is not as simple as it
seems. Simply saying “I’m sorry”
Down to Business 6 Business Savvy
and giving an excuse does not constitute an effective
apology. Apologies are most effective
when the wrongdoer sincerely accepts full
responsibility for their actions, explains why the mistake happened and how they’ll avoid the problem in the future, and offers some
form of reparation along with the apology.
• Offer motivational incentives.
speaking with.
For example, if the employee is
communicate values and needs,
upbeat attitude, focusing on the
a bonus for projects completed
excellence. However, many
Also, be sure to say something
constructive criticism is a tool that can improve performance, and help recipients strive for
managers and coworkers
alike struggle when giving
constructive criticism because they worry the recipient
will handle their comments
poorly, which could create a negative atmosphere. Here are a few
tips on how to give
constructive criticism that will empower
• Criticize positively with an
solution more than the problem.
positive manner.
• Request input. By giving
the recipient an opportunity to
respond, you create a conversation rather than a lecture.
• Criticize promptly in the
appropriate time and place—never in public.
• Provide specific examples of
change. Also provide a realistic
eye contact.
Stop whatever
you’re doing
(checking email,
phone messages,
• Use lighthearted humor, when
they aren’t a failure.
help your team member feel like
• Be respectful
and use direct
ahead of schedule.
about their positive attributes to
behavior you are criticizing and
to the recipient
always falling behind, provide
appropriate, to help the recipient
and improve your team:
How to Apologize and Mean It
etc.) and look at the person you are
open up and receive feedback in a • Don’t nag or harp. Once
you’ve had a discussion about the issue at hand, move on.
• How about your work habits?
If you are criticizing an employee
about coming in late every day, yet they often arrive before you do, reconsider your own behaviors.
• Wrap up the discussion with a
specify how you’d like them to
recap of positive comments.
time frame in which to achieve the
feedback is a powerful tool for
change you have discussed.
• Avoid using extreme terms,
such as “never” and “always,”
since these words will often cause the recipient to become defensive or hostile.
The ability to give constructive
building an effective team. The
same holds true if you are on the receiving end. Done effectively,
constructive criticism provides all
parties the opportunity to grow and achieve excellence.
And remember, apologies are only effective
when you are sincerely sorry for your
wrongdoing. If you don’t plan to change
your behavior, you’re better off saving your
credibility and your apology for a time when you really mean it.
Business Savvy Published monthly by Wax Family Printing | 215 MTCS Drive | Murfreesboro, TN 37129
July 2010 3
Did You Know?
Whole Ball of Wax Catalogs & Manuals:Info at Your Fingertips
Your Goals We’ve talked about Tactics (your to-do list), Strategy (your to-think list) and Vision (your to-be list). Now it’s time to look at your goals. You may have seen the acronym SMART that is sometimes used for the creation of goals.
S M A R T
= = = = =
Specific Measurable Actionable or Aggressive (I prefer aggressive) Realistic Timely Everyone of your goals should be a
Kevin Wax General Manager kevin@waxfamilyprinting.com
By the age of 60, most people will have lost at least half of their taste buds.
The property values on the Monopoly game board are the same today as they were in 1935.
The only bone fully grown at birth is located in the ear.
The Mall of America, located in
Bloomington, Minnesota, is so big that it can hold 24,336 school buses.
The highest bridge in the world is
located in France. It is 984 feet tall and 1.5 miles long.
Dogs have 10 vocal sounds, while cats have more than 100.
There are more than one billion cattle in the world, with 200 million in India alone.
The SMART acronym is an excellent place to start as you think about what your goals should accomplish. Use SMART as a goal. checklist. Each goal needs each component, or the goal won’t be worth pursuing. Specific and Measurable work together. If it’s not measurable, you can’t really tell if you have accomplished the goal. If it’s not specific, it by definition will not be measurable. Here’s an example of a non-specific goal; “I want to get along better with my co-workers.” Sorry, that goal won’t cut it. While it does have a certain aspect of specificity, it’s not that measurable. Getting along better with your co-workers is a good thing, but if you can’t measure it, you can’t manage it. How can we make this goal measurable? What if you decided to pay a sincere compliment to someone at your workplace each day for the next 3 weeks? That might work. Now, you have a number to shoot at. Make sure you record your progress (or lack thereof). Based on your past, 15 sincere compliments over the next three weeks may or may not be aggressive…but you get the idea. Same with realistic. If you are really stretching here and this is going to be tough, you may need to scale back your expectations; possibly shoot for ten compliments over the next 4 weeks. Either way, your SMART goal meets the T part of the equation because you put the finishing date in there.
S.M.A.R.T.
Whether you are looking for an
effective way to display information
about the products your company can
offer or answer important questions about
company policies and procedures, catalogs
Be consistent. Portray a consistent brand
Be clear. High-resolution images are very
logo and corporate colors that is visible
services that customers can’t see or touch.
image through the use of your company through all print materials, website, etc.
and manuals can do the talking for you.
Include an order form for convenience.
prospects, and customers alike with
done by phone or on the company’s
By equipping your employees,
catalogs and manuals, you empower them with the ability to easily find important
information and make informed decisions. Here are a few points to consider when creating your next catalog or manual:
Think about your audience. What do
Even though most actual ordering is
website, many shoppers like to use the printed order form to list and organize
their purchases before placing an order.
information or a link to your website for
more information should questions arise.
for product names, descriptions, etc. Also, keep text spacing and placement next to images consistent.
can encourage friends or coworkers to
products in product copy and callouts, or
guidelines, etc., as well as contact
and use the same style of text consistently
accurately and efficiently.
since orders can be placed more
section for frequently asked questions. information, product photos, policy
or three fonts throughout the document,
Take it online. Consider offering your
Don’t be afraid to cross-sell between
Be informative. Provide detailed
Simplicity is key. Use no more than two
This will also benefit your business,
they want to learn more about? Include a helpful yet concise question-and-answer
important when depicting products or
products. By suggesting companion
by placing companion products together
on the page, you can increase sales five to 15 percent.
catalog or manual online so readers download a convenient PDF version.
This month’s answer is none other than Paula Deen. You should also provide
information on how to request additional copies.
Stop by today if you’d like help
developing a creative catalog or manual that does the talking for you.
I would also encourage to add two components to your SMART goals. First, write your goals down. Write them where you can see them…often. This is a great way to hold yourself accountable. The second component also deals with accountability. Tell someone you respect your goals. Hand them a copy. Ask them to help you. Give them permission to speak into your life directly as you work to make these goals. Make sure this person has the courage to bring up the subject and not let you off the hook if you are falling short. Accountability is a GREAT thing, and greatly needed if you are to accomplish what you set out to do. Next month, I’ll show you what my comprehensive goal sheet looks like. Until then, Blessings and may God bless you with Business Savvy.
Wax Family Printing, LLC
4 Business Savvy
July 2010 5
Did You Know?
Whole Ball of Wax Catalogs & Manuals:Info at Your Fingertips
Your Goals We’ve talked about Tactics (your to-do list), Strategy (your to-think list) and Vision (your to-be list). Now it’s time to look at your goals. You may have seen the acronym SMART that is sometimes used for the creation of goals.
S M A R T
= = = = =
Specific Measurable Actionable or Aggressive (I prefer aggressive) Realistic Timely Everyone of your goals should be a
Kevin Wax General Manager kevin@waxfamilyprinting.com
By the age of 60, most people will have lost at least half of their taste buds.
The property values on the Monopoly game board are the same today as they were in 1935.
The only bone fully grown at birth is located in the ear.
The Mall of America, located in
Bloomington, Minnesota, is so big that it can hold 24,336 school buses.
The highest bridge in the world is
located in France. It is 984 feet tall and 1.5 miles long.
Dogs have 10 vocal sounds, while cats have more than 100.
There are more than one billion cattle in the world, with 200 million in India alone.
The SMART acronym is an excellent place to start as you think about what your goals should accomplish. Use SMART as a goal. checklist. Each goal needs each component, or the goal won’t be worth pursuing. Specific and Measurable work together. If it’s not measurable, you can’t really tell if you have accomplished the goal. If it’s not specific, it by definition will not be measurable. Here’s an example of a non-specific goal; “I want to get along better with my co-workers.” Sorry, that goal won’t cut it. While it does have a certain aspect of specificity, it’s not that measurable. Getting along better with your co-workers is a good thing, but if you can’t measure it, you can’t manage it. How can we make this goal measurable? What if you decided to pay a sincere compliment to someone at your workplace each day for the next 3 weeks? That might work. Now, you have a number to shoot at. Make sure you record your progress (or lack thereof). Based on your past, 15 sincere compliments over the next three weeks may or may not be aggressive…but you get the idea. Same with realistic. If you are really stretching here and this is going to be tough, you may need to scale back your expectations; possibly shoot for ten compliments over the next 4 weeks. Either way, your SMART goal meets the T part of the equation because you put the finishing date in there.
S.M.A.R.T.
Whether you are looking for an
effective way to display information
about the products your company can
offer or answer important questions about
company policies and procedures, catalogs
Be consistent. Portray a consistent brand
Be clear. High-resolution images are very
logo and corporate colors that is visible
services that customers can’t see or touch.
image through the use of your company through all print materials, website, etc.
and manuals can do the talking for you.
Include an order form for convenience.
prospects, and customers alike with
done by phone or on the company’s
By equipping your employees,
catalogs and manuals, you empower them with the ability to easily find important
information and make informed decisions. Here are a few points to consider when creating your next catalog or manual:
Think about your audience. What do
Even though most actual ordering is
website, many shoppers like to use the printed order form to list and organize
their purchases before placing an order.
information or a link to your website for
more information should questions arise.
for product names, descriptions, etc. Also, keep text spacing and placement next to images consistent.
can encourage friends or coworkers to
products in product copy and callouts, or
guidelines, etc., as well as contact
and use the same style of text consistently
accurately and efficiently.
since orders can be placed more
section for frequently asked questions. information, product photos, policy
or three fonts throughout the document,
Take it online. Consider offering your
Don’t be afraid to cross-sell between
Be informative. Provide detailed
Simplicity is key. Use no more than two
This will also benefit your business,
they want to learn more about? Include a helpful yet concise question-and-answer
important when depicting products or
products. By suggesting companion
by placing companion products together
on the page, you can increase sales five to 15 percent.
catalog or manual online so readers download a convenient PDF version.
This month’s answer is none other than Paula Deen. You should also provide
information on how to request additional copies.
Stop by today if you’d like help
developing a creative catalog or manual that does the talking for you.
I would also encourage to add two components to your SMART goals. First, write your goals down. Write them where you can see them…often. This is a great way to hold yourself accountable. The second component also deals with accountability. Tell someone you respect your goals. Hand them a copy. Ask them to help you. Give them permission to speak into your life directly as you work to make these goals. Make sure this person has the courage to bring up the subject and not let you off the hook if you are falling short. Accountability is a GREAT thing, and greatly needed if you are to accomplish what you set out to do. Next month, I’ll show you what my comprehensive goal sheet looks like. Until then, Blessings and may God bless you with Business Savvy.
Wax Family Printing, LLC
4 Business Savvy
July 2010 5
I In That Year
2002
How to Use Constructive Criticism for Improvement
I K-Mart Corp. becomes the
largest retailer in U.S. history to file for Chapter 11 bankruptcy protection.
I Kelly Clarkson wins the first
When working with other people, you are bound to be put in situations where constructive criticism is necessary.
I The New England Patriots beat
accept) constructive criticism is an art. Have you perfected it?
American Idol contest.
the St. Louis Rams 20-17 in the Super Bowl.
It’s easy to be critical of others’ behaviors and work, and often easier to criticize, but the ability to give (and
Creative Employee Incentives In today’s competitive business climate,
I Switzerland, traditionally a
many companies are developing creative
I The Winter Olympic Games
While organizations have traditionally
neutral country, joins the UN.
are held in Salt Lake City, Utah. I The Netherlands legalizes
euthanasia, becoming the first nation in the world to do so. I Ann Landers dies.
I The U.S. Congress authorizes
incentives to find and retain their best hires. focused on compensation as their primary deal maker, it takes a combination of
money, benefits, growth opportunities, corporate culture, and interaction with
upper management to retain top employees. If you are in a position to offer a few
the president to use force against
creative incentives to your employees,
I The soundtrack to the film O
to see a few different incentives offered
Iraq if it does not disarm.
Brother, Where Art Thou? wins
five Grammy awards, including Album of the Year and Best Country Vocal.
or you are an employee that would like at your workplace, consider some of the
ideas on this list: project bonuses, optional vacation days, flexible working hours,
telecommuting or work-at-home option,
career-development opportunities, matching 401(k), stock options, relocation assistance,
casual dress code, educational assistance,
on-site exercise equipment or gym discounts,
complimentary or discounted snacks, meals, or beverages, or on-site daycare or child-care assistance.
Creative incentives not only show employees
that their contributions are valued, but they
also build a strong, loyal relationship between the employer and employee. And the bottom
line is that creative incentives like these make work more enjoyable for employees, which is one key element in the quest for long-term employee retention.
When used effectively,
No one likes admitting they made
a mistake, but mastering the art of
the apology is a crucial part of doing
business. Business relationships depend
on trust. Violations of that trust, such as
a missed deadline or a faulty product, can put a serious damper on those business relationships.
Apologizing is not as simple as it
seems. Simply saying “I’m sorry”
Down to Business 6 I Business Savvy
and giving an excuse does not constitute an effective
apology. Apologies are most effective
when the wrongdoer sincerely accepts full
responsibility for their actions, explains why the mistake happened and how they’ll avoid the problem in the future, and offers some
form of reparation along with the apology.
• Offer motivational incentives.
speaking with.
For example, if the employee is
communicate values and needs,
upbeat attitude, focusing on the
a bonus for projects completed
excellence. However, many
Also, be sure to say something
constructive criticism is a tool that can improve performance, and help recipients strive for
managers and coworkers
alike struggle when giving
constructive criticism because they worry the recipient
will handle their comments
poorly, which could create a negative atmosphere. Here are a few
tips on how to give
constructive criticism that will empower
• Criticize positively with an
solution more than the problem.
positive manner.
• Request input. By giving
the recipient an opportunity to
respond, you create a conversation rather than a lecture.
• Criticize promptly in the
appropriate time and place—never in public.
• Provide specific examples of
change. Also provide a realistic
eye contact.
Stop whatever
you’re doing
(checking email,
phone messages,
• Use lighthearted humor, when
they aren’t a failure.
help your team member feel like
• Be respectful
and use direct
ahead of schedule.
about their positive attributes to
behavior you are criticizing and
to the recipient
always falling behind, provide
appropriate, to help the recipient
and improve your team:
How to Apologize and Mean It
etc.) and look at the person you are
open up and receive feedback in a • Don’t nag or harp. Once
you’ve had a discussion about the issue at hand, move on.
• How about your work habits?
If you are criticizing an employee
about coming in late every day, yet they often arrive before you do, reconsider your own behaviors.
• Wrap up the discussion with a
specify how you’d like them to
recap of positive comments.
time frame in which to achieve the
feedback is a powerful tool for
change you have discussed.
• Avoid using extreme terms,
such as “never” and “always,”
since these words will often cause the recipient to become defensive or hostile.
The ability to give constructive
building an effective team. The
same holds true if you are on the receiving end. Done effectively,
constructive criticism provides all
parties the opportunity to grow and achieve excellence.
And remember, apologies are only effective
when you are sincerely sorry for your
wrongdoing. If you don’t plan to change
your behavior, you’re better off saving your
credibility and your apology for a time when you really mean it.
Business Savvy Published monthly by Wax Family Printing | 215 MTCS Drive | Murfreesboro, TN 37129
July 2010 I 3
Strictly Business
Business Quotes
Books in Review
“The greatest mistake you can make in life is to continually be afraid you will make one.” —Elbert Hubbard
As a follow-up to best sellers The Oz Principle
and Journey to the Emerald City, authors Roger
Connors and Tom Smith present the third book in their accountability trilogy, How Did That Happen?
“If your ship doesn’t come in, swim out to it.” —Jonathan Winters
Connors and Smith are partners and founders of
Partners In Leadership, Inc., a company that specializes in accountability training and education.
“Character is a diamond that scratches every other stone.” —Cyrus A. Bartol
Their book not only explains how to hold others
accountable, it also provides an array of practical
advice that can be easily remembered and applied in
“Most of the shadows of this life are caused by our standing in our own sunshine.” —Ralph Waldo Emerson “Those that make the best use of their time have none to spare.” —Thomas Fuller
Guess Who I Am
day-to-day situations. By following a series of steps
called the “Accountability Sequence,” readers are given clear-cut techniques to help them achieve successful accountability.
The Accountability Sequence includes two essential
How Did That Happen? Holding People Accountable for Results the Positive, Principled Way By Roger Connors and Tom Smith
components: “The Outer Ring,” which explains how to establish expectations and positive accountability
connections; and “The Inner Ring,” which explains
how to manage unmet expectations when people fail to deliver and correct the missed results.
Not only can this book give a new perspective on the
dreaded topic of accountability, it will also help leaders
Born in Albany, Georgia, in
1947, this woman graduated from Albany High School in
1965. She was married that same year and worked as a bank teller and homemaker. In 1989, she divorced her husband.
Left with only $200 to her
name, she packed up her two sons and moved to Savannah, where she used the cooking skills she
learned from her grandmother to start her own catering business
called The Bag Lady, where she prepared fresh sandwiches and
other meals to sell to downtown businesses and doctors’ offices.
Because she suffered from anxiety and agoraphobia (the fear of
public places) after being held at
gunpoint during a bank robbery, her sons delivered the meals.
Her down-home, Southern
have more empowering conversations and offers an
cooking skills were wildly
innovation in the workplace.
outgrow her kitchen and begin
inspirational resource for developing creativity and
successful, causing her to quickly working for a local restaurant. The regional specialties she
provided became the talk of
the town and influenced her to
open her own restaurant, which
No Monkey Business! While it may seem like we perform creative tricks when it comes to meeting tight deadlines, the team at Wax Family Printing doesn‘t monkey around. However, we will help make you the star of the show!
received many accolades from critics and media alike.
She then wrote several
cookbooks, appeared on QVC
and The Oprah Winfrey Show to promote them, and later got her
own cooking shows, for which she has won Daytime Emmy Awards. This successful chef,
restaurateur, writer, and TV
personality is found somewhere in Wax Family Printing, LLC
2 Business Savvy
Wax Family Printing, LLC
this issue of Business Savvy!
July 2010 7
Your Sales, Marketing, and Business Management Newsletter published monthly by
July 2010
STANDARD PRE-SORTED U.S. POSTAGE
PAID Murfreesboro, TN PERMIT NO. 86
Wax Family Printing, LLC
Address 215 MTCS Rd. Murfreesboro, TN 37129 Phone 615.893.4290 eMail letters@waxfamilyprinting.com Fax 615.893.4295 Web www.WaxFamilyPrinting.com
Inside This Issue:
Page 2
No Monkey Business!
Page 3
Sales Achievers
How to Use Constructive Criticism for Improvement
Page 4
Whole Ball of Wax Wax Family Printing is the only CPrint™® certified printer in Middle Tennessee.
Page 5
Catalogs & Manuals: Info at Your Fingertips
Tracking Your Sales Wins (and Losses)
Jeff Carlton Sales While it may be difficult to relive a major sales defeat, tracking both wins and losses will help your team to identify areas for improvement and learn valuable information about your key competitors.
8 Business Savvy
In addition to discussing the win or loss with the salesperson or team involved (reviewing their relationship with the prospect, sales process involved, and whether or not they anticipated the end result), your company should also schedule a follow-up interview with the prospect within two to four weeks of the final decision. Explain that you’d like to learn as much as you can about their buying decision. Here are a few tips on what information to gather when interviewing: • Ask what other companies were competing, and how your company compared (strengths and weaknesses). • What was their perception of your company before entering the buying cycle? Did their perception change? If so, how? • Ask prospects to rate your performance in three key areas: sales team, sales collateral/tools, and product features. Be specific, such as asking them to rank the salesperson’s product knowledge or account understanding on a scale of 1 to 10.
• Ask their opinion about your pricing structure. • Ask what the selection criteria was for the final decision. • If a loss, don’t simply ask why you lost. Ask why they won. Was it price? Product functionality? Perceived value? • If a win, would they participate in a testimonial, case study, or press release? • What advice would they offer for working with them in the future? If the prospect doesn’t have time for a sit-down meeting or phone discussion, ask if they would consider filling out your questionnaire via email at their own convenience. Following the interview, send a thank-you note to the prospect expressing your appreciation. Also, be sure to schedule an internal debriefing meeting to discuss the interview information and focus on how you can improve the next go-round. While you can’t win them all, your team should certainly give its best effort to try!
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In That Year
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Book in Review: How Did That Happen? Guess Who I Am
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Tracking Your Sales Wins (and Losses)