Are you finding it hard to meet your sales target? Are you experiencing revenue loss? This may be sign that you have some prodigal clients which you are allowing to slip away? Prodigal clients are your inactive clients. They are those who have not patronised your services for quite some time. It may be ages that they last ordered from you and you might not even have noticed it. If you are really serious about increasing your revenue, then you need to take a look at this set of customers.

The easiest way to instantly increase your current client base is to regain your inactive clients. It is not only less costly to maintain existing clients, it is easier for you to introduce your new lines of products or services to them. They have purchased from you before and hence can make up their mind on time as regards subsequent orders. So, what do you do now?

You must identify how many of your old clients are no longer actively purchasing from your company. You will then go a step further by finding out why they cease to be your customers. Here are some reasons why some of your clients may have stopped buying from you:

1. Something totally unrelated to you happened in their life that has caused them to stop dealing with you.
2. They probably have every intention to start dealing with you again but just have not gotten around it yet.
3. They experienced a problem during their last purchase.
4. Your after-sales service is not helpful to them.
5. They can no longer benefit from your product or service.

You can keep naming the reasons. You may need to call up some of these clients and find out from them. This will definitely benefit you. The best way to reinstate your lost clients is to simply contact them. Make an appointment to visit them or call them if a visit is not possible. You can also choose to send them a letter. Tell your lost clients that you noticed that they have not been buying from your company and that you sense that something is wrong. Make sure that you communicate both humility and concern. Remember to focus on them and their well-being.

If your client falls under category number one stated above, your call will awaken them into buying again. If your client falls into category number two, you must take the opportunity to tell them how much you value their business and apologize for the problem they encountered. Do something special to make up for the inconvenience they experienced. At the end of the day, you may not be able to win all your inactive clients back but you will surely have a clear understanding of how to keep your customers. And the end result? Your revenue will be on th increase.

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Are you letting go of your prodigal clients?

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Is your business suffering an economic downturn? Are you currently going through a tough time in your business? Then, you may need to read carefully what I am about to share with you.  Having a well-thought business concept is one thing, achieving business success is another thing. One of the reasons that you will succeed in business is the people you have in your network. The best asset you will have at any time is the business relationships you have created.

The business relationship you have built with your customers, employees and vendors is the only competitive capital you have. You must nurture a network of personal and business relationships. This takes effort and diligence. Always remember that everyone is a prospective client. So, treat everyone that way. Try to stay in touch with the people you meet through e-mail or other forms of communication methods.

Always ensure that you follow up with someone that you meet within twelve to twenty-four hours. You can simply send the person a quick note through e-mail or even an SMS and leave mental reminders as to who you are. Remember, you are going through all the trouble to meet other people. You might as well make sure that you are noticed. By the way, e-mails are very convenient but there is nothing like a handwritten thank you note to catch a person’s attention. You can also go one step further by calling the person to follow up.

If you want to build and maintain relationships successfully, you must build on your first meeting. Learn the art of staying in touch with your contact. Always remember that it is only through repetition that you can become a fixed element in your contacts’ memories. Much after you have established this relationship, you can ask them to introduce you to their network of contacts. This might be set of people who might be interested in your business. Not only will a referral get you in the door, this will enable you to grow your network.

One point worth noting is that it takes patience to grow your network. You must be patient when it comes to building relationships. This takes time and the last thing you want to do is to rush things. Ask for nothing at the beginning of the relationship. Focus on what you can give. Give more than you can get. Wait until you have gained people’s trust. When you are trusted, they will refer business to you without you having to ask. So, what do you think?

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Build It Before You Need 2

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Do you spend your spare time or invest it? Spare time? Yeah…You read it well. Everybody has got spare time irrespective of who you are. It does not matter if you are a busy business owner or a manager in a company. Everybody has some time of the day when you are not doing anything related to your business or your work. So, how do you spend this time? Do you just allow the time to roll away or you sow it into your future? There are so many things you can do in your spare time to invest into your future. One of such ways is to invest into the development of your mental muscle.

Developing your mental muscles will give you the power to accomplish anything you want in life. It will ensure that you are always ahead of your peer. Moreover, it will prepare you for the opportunities that lie ahead and it will make sure that you are not missing opportunities. If you are looking at ways of developing your mind, you may need to read my previous write-up on developing your mind. I was able to highlight some of the things you can do to ensure that your mind is charged for what lies ahead.

Another way you can spend your spare time is to work on your pet-project. What is it that you have always wanted to do? What is your passion? What is it that you would rather do than what you are being paid to do now? Your spare time is an opportunity for you to try your hand on it. The beauty is that you don’t have to resign from your present place of employment before you start. You can start by devouting your evenings and weekends to the fulfilment of your passion. You only need to tell yourself that you will give it all it takes. It is going to place a lot of demand on you and it might mean that you will cut out froma lot of activities. But I bet you, it is worth every minute you commit to doing this.

Many successful business men started this way. Michael Dell, Richard Branson, Bill Gate etc. all started this way. So, why can’t you take this route? One other advantage this will give you is that you will be able to learn how to fail forward. Since you are only committing part of your resources to this, the failure of the project or the business will not harm you but create a platform for you to learn how to do things in a better way. You will learn many ways in which you should not do things and this might turn out to be an invaluable lesson you will need if you eventually decide to pursue your passion full time.

You can also use your spare time to build your network. God has not created us in isolation. He created us to work with others on a daily basis. I have not seen anybody that live his dream to the fullest without the help of others. If the successful people already make use of this principle, it will do you much good to take this serious. One of the last things you will want to happen to you is to need help and for nobody to be available to help you. So, start today by sowing into the emotion bank of people.

Make it a conscious effort to reach out to others anytime and anywhere. You must make sure that your social and event calendar is always full.The more connections you establish, the more opportunities you are given to make even more connections. What are you waiting for? Start today. Send that email. Make that call. Invite a colleague out for lunch or dinner. Include other people and watch your web of contacts grow.

These are some of the ways I spend my spare time. What about you? Share your thought and let us learn from your experience. You will defintely succeed.

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How do you spend your spare time?

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What do you around you? Big problems or Big opportunities? Do you move around and all you see are problems? What you see today as problems are actually opportunities in disguise. We are continuously faced with great opportunities brilliantly disguised as seemly unsolvable problems. Each problem has hidden in it an opportunity so powerful that it literally dwarfs the problem. The greatest success stories were created by people who recognized a problem a turned it into an opportunity.

Concerned with the overwhelming challenges and burden associated with the enormous dependency on cash in the country, InterSwitch came up with a solution that is gradually changing the economy to a cashless economy. The company’s system support s automated customer transaction from multiple channels such as ATMs, mobile and Internet. Currently, over 1000 ATMs are connected to InterSwitch system.  Besides, cards carriers can shop on several merchants web portals enabled by WebPAY, an InterSwitch Internet gateway payment system. This has really changed the way many transact businesses in the country and is also increasing the net worth of the company.

The most interesting thing is that nearly all problems have multiple solutions. In all problems, there are opportunities (probably several) if you look for them. Different definitions of the word “problem” result in differing attitudes, some proactive, some non-reactive. The proactive person sees problems as challenges, opportunities and even games. Look at a problem as an opportunity for change and improvement. Are you currently facing a serious problem at work? You need to make up your mind not to allow the problem to overwhelm you.

Problems do not need to happen in response to pressure from external factors or horrible events at work. Deciding to have a fresh awareness and a new point of view will allow you to see possibilities for improvement, no matter what the circumstances around you. Any area that might be improved could be a problem for you to solve and thereby gain recognition in the workplace. Look for potential problems areas at work and solve them before they get out of hand. And you know what? That might be your stepping-stone to the promotion you so desire.

Developing a proactive, positive attitude toward “problems” will not only cause you to be happier and more confident at work, people will like you better. The problem-solving attitude allows you to respond with enthusiasm to enable positive changes, especially at work.  Problems are a gateway to Success. A problem can emerge from realizing that the present is not perfect, while the future can be better. Start from where you are and move up. This creates an attitude of hope and results in actions for positive change. Faith in achieving your hopes and dreams gives you permission to challenge yourself to improve your future. So, it’s not a problem, it’s a step up! This should be your motto henceforth.

Many successful people have seen problems and turned them into opportunites. You too can do the same starting from your present situation. You only need to start seeing problems as opportunities in disguise. What is it that annoys you in your environment? That might be a clue to the problem you need to solve. What are you waiting for? Look beyond the problems and start seeing opportunities that will launch you to the next phase of your life. What do you see now? Problems or Big Opportunities?

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What do you see? Big Problems or Big Opportunities?

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What do you do when you hear the word “NO”? What do you do when it seems all doors are closed at you? When it seems that you are to close to an end? What do you do when what seems to be your last hope is fading away? Persist! Yeah, you heard me right…Persist. The good news is that you are not alone on this journey. Some people have experienced this before and today they are living testimonies of what a man can do by persistence. Will the road ahead be smooth? Will there be any adversity on the way? Yeah, adversity is part of life. Challenges are meant to come. Your response to the challenges of live determines how successful you will be.

The difference between the successful people and the failures is not adversity. Everybody has a taste of that. In fact, the successful people have heard a lot of NOs in their lives but never give up. Then, what is the difference? The difference is your response – your attitude to the challenges you meet on your way. How do you react when you receive a call from that recruiter telling you they had given the offer to someone else? Your bank account manager just called you and told you that you have just been refused that loan. The success of your business may even depend on you getting that loan.

But what do you do? Do you regroup and hit it hard again, or do you just lay it down and quit? Many people have made a u-turn when their success is actually around the corner. Calvin Coolidge said,

“Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.”

Failure should never be an end. It should be seen as a bend towards another destination. I have failed before but I did not pack my bag and cave in. I bounced back and I believe you can do the same. Setbacks should be seen as the foundations upon which you build your future success and not the final excuse for failure. Nearly everyone who seeks to develop an idea encounter problem on the way. There are enough reasons why the idea may seem impossible to implement. Someone that you respect so much might even have failed at doing the same? That is not enough to discourage you from pursuing your dream. Some people gets discouraged at this stage and give up. That is not the place to be discouraged. This is not the time to see the obstacle. Focus on the positive and keep seeing the fulfilment of your idea. Keep seeing the problems that the execution of your idea is going to solve. This alone will give you enough encouragement.

The dictionary defines persistent as: to continue firmly or obstinately. Persistence is a state of mind. In the words of Thomas Edison,

“Just because something does not do what you planned it to do does not mean it is useless…. Reverses should be an incentive to great accomplishment. Results? Why, man, I have gotten lots of results! If I find 10,000 ways something won’t work, I haven’t failed. I am not discouraged, because every wrong attempt discarded is just one more step forward…. There are no rules here; we are just trying to accomplish something.”

It is therefore normal for someone to have obstacles before success. It creates a better platform for you to appreciate God when you hit your target. Even the dictionary puts the word obstacle before success. Obstacles are there to strengthen us and offer progressive measurement of our growing strength. Discouragement sets in when we misunderstand the purpose of obstacles. Persistence is a conscious decision. So, train yourself to be persistent persons and stop giving up at the bend. Are you still seeing an end or a bend?

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When You Hear NO…

Technorati Tags: persistence, success, attitude

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What do you do when you hear the word “NO”? What do you do when it seems all doors are closed at you? When it seems that you are to close to an end? What do you do when what seems to be your last hope is fading away? Persist! Yeah, you heard me right…Persist. The good news is that you are not alone on this journey. Some people have experienced this before and today they are living testimonies of what a man can do by persistence. Will the road ahead be smooth? Will there be any adversity on the way? Yeah, adversity is part of life. Challenges are meant to come. Your response to the challenges of live determines how successful you will be.

The difference between the successful people and the failures is not adversity. Everybody has a taste of that. In fact, the successful people have heard a lot of NOs in their lives but never give up. Then, what is the difference? The difference is your response – your attitude to the challenges you meet on your way. How do you react when you receive a call from that recruiter telling you they had given the offer to someone else? Your bank account manager just called you and told you that you have just been refused that loan. The success of your business may even depend on you getting that loan.

But what do you do? Do you regroup and hit it hard again, or do you just lay it down and quit? Many people have made a u-turn when their success is actually around the corner. Calvin Coolidge said,

“Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.”

Failure should never be an end. It should be seen as a bend towards another destination. I have failed before but I did not pack my bag and cave in. I bounced back and I believe you can do the same. Setbacks should be seen as the foundations upon which you build your future success and not the final excuse for failure. Nearly everyone who seeks to develop an idea encounter problem on the way. There are enough reasons why the idea may seem impossible to implement. Someone that you respect so much might even have failed at doing the same? That is not enough to discourage you from pursuing your dream. Some people gets discouraged at this stage and give up. That is not the place to be discouraged. This is not the time to see the obstacle. Focus on the positive and keep seeing the fulfilment of your idea. Keep seeing the problems that the execution of your idea is going to solve. This alone will give you enough encouragement.

The dictionary defines persistent as: to continue firmly or obstinately. Persistence is a state of mind. In the words of Thomas Edison,

“Just because something does not do what you planned it to do does not mean it is useless…. Reverses should be an incentive to great accomplishment. Results? Why, man, I have gotten lots of results! If I find 10,000 ways something won’t work, I haven’t failed. I am not discouraged, because every wrong attempt discarded is just one more step forward…. There are no rules here; we are just trying to accomplish something.”

It is therefore normal for someone to have obstacles before success. It creates a better platform for you to appreciate God when you hit your target. Even the dictionary puts the word obstacle before success. Obstacles are there to strengthen us and offer progressive measurement of our growing strength. Discouragement sets in when we misunderstand the purpose of obstacles. Persistence is a conscious decision. So, train yourself to be persistent persons and stop giving up at the bend. Are you still seeing an end or a bend?

a

When You Hear NO…

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Do you have what it takes to transform the successes and failures of yesterday as today’s victories while riding on today’s back to simulate the future? Can you see the link between today and tomorrow, which is built on yesterday’s triumphs and pitfalls? Are you living in the present to the fullest with a sense of purpose? Jack Welch said:

“Fanaticism is doubling your speed when your purpose is forgotten.”

While you already have the picture of the kind of future you desire, you owe yourself the responsibility of positioning yourself to reach your target on time. What is it that you want to achieve? Getting a new job? Starting a business? Can you really boast now that you have all it takes to get the kind of job you desire? Sit down and answer that question sincerely. The starting point is to identify and make a commitment to do what you need to move from your present position to your desired position.

If you are looking for job, identify the kind of job you want and list the skills you need to function effectively on that job. You may then consider working for free for a small organisation to develop the skills you need. You need to keep reminding yourself that employers are no longer only interested in the kind of grades you finish with in school. They want to know what you can contribute to their organisation. The grade you finished with in school may be able to secure you interview but it will not secure you the job. You definitely need much more than that. You need to have relevant skills which you alone have to develop. Nobody can and will do this for you. You owe yourself this great responsibility.

Your desire may be to get a promotion at work. You have been working for some years now and getting the promotion you feel you deserve? Do you really deserve that promotion? Take a look at your present skill set. Are you adding more value to your company than you were adding last year? Or you are just marking time in the office and collecting the money you don’t deserve? This is the time to reflect on your activities of the last few months. If you are serious about getting that promotion, look around you. List the people in your organisation whom you think are doing very well. Then, list the skills that they possess and choose this day not only to develop those skills but also to diligently apply them at work. This will not come easy but you have to give it all it takes.

So, are you serious about hitting your target enough? Make up your mind now to give it everything within you. You can start by reading a book that address your special need. It is only a matter of time before you become master at what you are doing. And you know the result? Your skills will show you off. People will demand for your service. What are you waiting for? Start today to prepare for success…

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Are your prepared for Success?

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I have not made any post for some time on this blog. It is not because I don’t have anything to talk about. In fact, I have many titles in my archive that I am yet to address. I have been very in school this past weeks and I have to combine this with meeting my business interest. I was just thinking about my plans again this morning and something hit me hard. There is a question I want us to quickly address. Are you where you are supposed to be? Are you living the kind of life that you so desire.

Wait…remember when you are growing up. Remember all those great dreams you had. Are you fulfilling your dreams already? Or you are still in the realm of talking? Are you matching your talking with corresponding actions? if your actions are far from your words, then you need to take a break and think deep.  You need to move from the group of “talkers” to “doers“. Most successful people in this world are those that have learnt to match their actions with their words.

Talkers are those people that have great ideas or great intentions, but just never follow through with action. I was a talker myself many times in my life but I have since discovered that mere talk can not translate to dreams being fulfiled. What aspect of your life have you been talking about changing? Is it going for that course? Writing that exam? Reading those books or listening to those tapes? You have to give yourself no other option and create enough reasons why you need to act today.

Anyone can be a talker, but to make a change in your life, you need to take solid action and follow through 100%. If you don’t, you will never see your dreams turned to reality. They will forever remain in the realm of dreams. And do you know the end result? You will keep on Passing Over Opportunity Repeatedly (POOR).

If you want to be a talker your whole life, then that is your prerogative, but unfortunately you will probably lose the confidence in yourself along with the backing of friends and family. People will see through you given enough time if “talking“ is all you are capable of doing. Take one aspect of your life, just one, where you want a change, whether it is family life, dieting, exercising, finances, schooling or anything else and take a stand NOW. Decide on what you need to do and follow through 100%. The results you are looking for will be within your reach. It IS possible; it just takes effort and patience.

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Does your action match your word?

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Thomas Edison tried thousands of different materials in search of a filament for the light bulb. When none worked satisfactorily, his assistant complained, “All our work is in vain. We have learned nothing.” Edison replied very confidently,

“Oh, we have come a long way and we have learned a lot. We now that there are thousands of elements which we cannot use to make a good light bulb.“

Wait… you do not have to make all the mistakes yourself. You can learn from the mistakes of others. That is why you are not the first person going that route. Some people have gone that route before you. Whatever you want to do in life, you will surely find someone who has done it before or someone who has done something related to what you set out to do. Your responsibility is to study their story to see how you can avoid their pitfalls and then apply your lessons to your situation.

Some years back, I joined 3 other guys to setup an ICT company. Each of us had different skill sets which we aimed to harness. We were bringing different values to the company. We set out to offer quality and affordable services. The start-up phase was great. We completed our company registration with the Corporate Affair Commission and got an office space which was renovated. Each new day brought us enough reasons to believe that the company was meant to be real.

Within weeks, we got some contracts to setup local area networks and internet services in some companies both within and outside Lagos. On a particular occasion, we got a contract to supply 50 computer system units to a company. It was a dream come through. Things were working as planned. The god of business was really smiling at us. Suddenly, we lost it. Within one year of existence, the company collapsed. It was like a dream but it was so evident that something was missing. Something was wrong with the company structure we had put in place.

Our technical skill sets failed us. We did virtually everything wrong. Then, it hit me that you need more than technical skills to run a successful business. You need a combination of so many skills. I learnt my lessons and I do believe the other 3 learnt theirs also. The whole experience was a very painful way to learn but I am glad I took that step at that phase of my life. You miss a lot of opportunities by not acting. The steps you did not take today because you are afraid of mistakes may be gone forever. I am glad to let you know that you are not shut out forever, and that there is a goal you still can reach. Start today…Dare your fear and take those steps.

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Are You Afraid of Making Mistakes, Learn From Others

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“All objects remain in a state of rest until a force is applied” Newton’s law of motion

This is true of many of our aspirations in life. Things will definitely not move until we move. Action orientation is a major requirement for success. The question now is “How do I start?” or “where do I start from?” Even now, I know you are still battling with that question in your mind. I have since discovered one fact in life, a job begun is a job half done. You may not have the clear picture of what you want to do but you need to start some how.

The problem with most of us is that we feel we do not have what it takes to start. You know what? As long as you hold the belief that what you need to start is what you do not have, you will not start. And off course, you can not finish what you have not started. You have the magic… You have what it takes to run a successful business.

Do you have what it takes? In my studies of what it takes to be an entrepreneur, I discover that entrepreneurship requires character. You can not just wake up today and start a business. There are some characteristics that you must possess. I have been able to identify some of these. Look through them and see if you truly possess what it takes to own and run a successful business.

Guts: Guts means you must have an entrepreneurial instinct, which is an overwhelming desire to have your own business. You must have the guts and dedication to be completely devoted to your goal. Incidentally, devotion to your goal is much more likely if you have a love for your intended business. Life is too short to start a business that doesn’t give you satisfaction and joy. And, through good times and bad times, you will stick with something you love.

As Solomon said,

“There is nothing better for men (and women!) than they should be happy in their work-so let them enjoy it now.”

Brains: While appropriate educational credentials are important, entrepreneurial “brains” means more than scholastic achievements. To become a successful entrepreneur, you must have a working knowledge about the business you plan to start before you start it. Common sense combined with appropriate experience is the necessary brainpower. Prudence, follow through and attention to detail are very important.

Capital: I should have addressed this issue first. You will need seed money of your own plus sufficient cash to maintain a positive cash flow for at least the first year. Many businesses can be started on a very small scale with a small investment. Then, as the business grows and you gain experience, cash flow from your business can be used for growth. In some cases you don’t need starting capital to hire other people because you might start by doing everything yourself.

The “do it yourself” start is a good way to learn everything about your business and also makes you better qualified to delegate work to others later on. You can control your risk by placing a limit on how much you invest in your business. If you think you have all these in place, then, start something in line the kind of business you want to start now. You do not have to start it full time. Start something now even while you are still working at your present employment. Some people started their businesses this way and some other will still do. What are you waiting for? START NOW…

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How To Start From Where You Are

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