September 26, 2007

Quality Today versus Yesterday... Prepare Yourself for
Setbacks and the Road Will Be Smooth... Jobs Lesson for You;
Part 1... You Can’t Please Everyone... and More.

**Quality Today versus Yesterday
By Adrian Newman, Founder of e-Wealth Daily

My sister and brother-in-law just got possession of a brand new home.

This past weekend, I went to see it and what I saw made me cringe.

First of all, some background on this house: It is a brand new home in a subdivision in a suburban planned community. All the houses have been built by the same builder using a “cookie-cutter” style of building.

So, while I was waiting to see how great this place was going to look, my jaw dropped when I noticed all the small errors:

Baseboards that didn’t connect to each other, the wrong tiles laid in a bathroom, kitchen drawers with scratches and cracks, and over 40 different items their building inspector noticed were wrong.

Now, my sister and brother-in-law wanted to buy a new home to stay away from having to deal with the headaches buying an older home sometimes comes with.

But I don’t think they ever imagined this horror. Now, granted, the builder has pledged to fix these things in a year’s time.

Until then, they have to deal with shoddy workmanship and poor quality from a builder they paid a lot of money to.

And the sad thing is, this is a common occurrence.

I’ve heard numerous stories from people buying brand new homes having major problems shortly after they get possession. It just goes to show you how different things are today than they were just forty or fifty years ago.

The houses built back then are considered classics. Heck, even those built in the 1920s are structurally better than the houses being built today.

Some say it’s because the cost of labor and materials is too expensive. But I believe, at the risk of sounding like a bitter old man, that you get a lot less for your money today than you did back then.

Back then, you had handcrafted crown moldings and framework. You had sturdy walls and thick wooden doors. Beautiful vents and deep, rich wood filled every room.

Today, plastic vents (by the way, some were missing in the new house!), laminate flooring and doors bought by the thousand make a new homebuyers experience a potential nightmare.

But like they say, “They don’t make ‘em like they used to!”

Too bad because if they did, the economy might be in better shape. But that’s another story...

If there’s just one thing you must keep in mind, this is it: Be prepared for setbacks. Not everyone in life has tact. Some people may laugh and tell you that you must be joking when you explain your plans to them. Whatever their response is, leave your emotions at the door. A well-honed response is much more effective.

As I said in my previous article, “I charge more because I do more, and I guarantee results.” I also understand the value of a long-term client. So, if you have your own business, you must keep in mind, during each transaction, whether this is going to be a one-shot deal or a long-term relationship.

Tie your value to continuing business and then set a deadline. If you do not create more demand for what you’re supplying, then your value will go down. By following these techniques, you could be in a superb position to get what you want. More importantly, you will have done everything in your power to put your higher added value where it can be seen.

Always remember this: Any person you are negotiating with has some preconceived notions about you. He/she expects to be able to talk you down. He/she knows that the best way to make you falter is to tell you that the budget is tight, or there is a huge pool of equally talented competition out there, which he/she can draw from. He/she also knows you are scared to ask for a lot of money up front.

I wouldn’t say that it’s all about calling someone’s bluff. Instead, it’s about knowing what you’re worth and having the confidence to say so. Never reveal too much information, either. With the right conversational technique, you can create a climate where the other side always feels like it’s warm. Always asking for more than you expect to get is the key here.

By following this approach, you can create a perception of value that no one can take away from you. What’s amazing is the speed and determination you pick up as you attain one win after another. You gain amazing confidence and power, and you could be able to create a win-win scenario in just about any circumstance. The first time to do this, however, is always the most difficult, so be persistent.

When it comes to getting paid what you’re worth, it’s a game of truth or dare. Unless you can be confident about raising your rates and expecting the best, you will never know who will go along with you and who will flat out refuse. But unless you try, you will never know where you can go. It’s that faith factor again. Believing in yourself and your abilities could help you soar.

You need to know how to educate your clients on the value that you can deliver them. Sometimes, the rewards don’t have to be monetary. If you think that working with a client can put you in a strategic position to enter a new market, or approach an even bigger fish in the pond, then continue to sell yourself.

Always seek out the results of your efforts. This is what a true scientist does. These results are the yardstick by which all your future efforts will be measured. Get testimonials and recommendations for a job well done in writing. This will add to your bargaining power later on.

Once you have built up your bargaining power, never be ashamed to ask for more money. Think about it: If we loved our jobs as much as some of us say we do, we’d work for free. Let’s face it, money is the reason we work; it’s the reason we leave our families for eight hours a day or more. Money is the reason we don’t just take the day off and go sailing or golfing. It is the collateral we need in order to pay for our homes, our vehicles, and our vacations.

True, money isn’t everything, and without a balanced life that includes love and respect, money is nothing. But that is besides the point here. I want you to value the money you earn because you deserve it. Because of the work you do and the talents you possess, you deserve more than what you’re making now.

Anything in life worth doing is worth doing well and let’s be honest: getting paid well for what you do sure makes life a whole lot better.

Chances are that neither you nor I are going to win the state lottery this week. So you need to come up with new and inventive ways to better the life that you are currently living. You can sit around and discuss it for the next 10 years, or you can get up and do something about it. 

** Jobs Lesson for You; Part 1
By John Hurd, Chief Wealth Researcher

A dozen years back, if you told me that you could surf the Internet, plan your schedule, look at maps, snap photos and even take phone calls with one small device... well, I'd have told you to keep dreaming.

Well, I'd certainly have egg all over my face now.

Millions of people worldwide are doing all of these things and more using portable computing devices. Also, for many companies, this is a big, big business market.

The users of these devices make and spend a lot of money, and they do a lot of this while using their phones. So when a new innovation arises or another big-name brand jumps into the fray, you're going to see newsmakers make a lot of noise.

And that's just what happened when Apple Computers introduced its latest tech-gadget, the “iPhone.” While I'm not going to give you a review of the phone itself, I am going to share my opinion on some of the business tactics used to created buzz and bolster early sales of this product.

First, let's talk about the huge buzz and fanfare surrounding the release of this phone back in June 2007.

When rumors began to circulate of an Apple phone, the speculations spread like wildfire. What would it look like? What could you do with it? When could you get your hands on it? Without any official word from the company itself, a word- of-mouth buzz created some hot anticipation for this phone.

Then came the press conference with Apple founder Steve Jobs that fanned the flames of consumer excitement. Commercials started playing on major television networks and those determined to be early adopters made every attempt possible to shell over some big bucks to be one of the first people to own the new iPhone.

After the release, the buzz paid off and sales for this expensive new phone were high. Of course, the good comes with the bad as some high-use customers reported phone bills to the tune of thousands of dollars.

The most recent news concerning the Apple iPhone comes in the announcement of a price drop of one-third of the original price.

This really has ruffled the feathers of more than a few iPhone owners who have now seen the value of their coveted phones drop by one-third.

Why then would a company do this and what can you learn from their example?

Tomorrow, I'll continue this thought with a few things you can do to follow Apple's product-buzz creation and a few things you may want to avoid when considering your own business or moneymaking idea.

** You Can’t Please Everyone
By Michael Newman, the "Money Finder"

I remember once dealing with a customer on a particular project and no matter what I did, I was wrong. It was a terrible experience. Not only was I using the tactics I’d used in the past to make countless customers happy, but I was trying my hardest to make him happy — almost too hard.

I remember one day specifically when things went really bad. I was explaining one of the processes I was going to implement that would make him all kinds of money, and he told me it was a “stupid idea.” I remember going home afterwards and thinking to myself, “Is this really worth it?”

That was when I realized that in business, just as in life, you can’t please everyone — and if you try, you might just end up driving yourself crazy!

The fact is that for whatever reason, some people just can’t be pleased. Sure I knew that my ideas would make this person a lot of money; and they did. But some people are just negative, have a hard time taking advice, or are just generally difficult to get along with and there’s no sense stressing out trying to keep them happy.

In fact, you can afford to turn away the occasional customer. After all, there are probably 15-20 good customers for every bad one, so if you turn one away, you can bet a good one will be right behind them. Focus on making your good customers happy because it pays off in the end. They are the ones who will keep coming back to you, and they will also let you enjoy your work.

The problem with working for a bad customer is that they make you struggle to do the things you love. And, quite frankly, that’s just not right. The chances are that you started your own business because of your passion for a particular field, and when you find yourself dreading your passions because of a customer’s negative attitude, the best idea might be to step aside and redirect them elsewhere. This way, you can get back to focusing on the things you do well, with confidence.

Being comfortable knowing that you can’t please everyone — and don’t have to — could relieve all kinds of stress in your life. It could make you more comfortable in your surroundings and a more confident individual. Not to mention, it could translate to your enjoyment and ability to provide the best quality product to your customers.