July Issue

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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Tracking Your Sales Wins (and Losses)