I went to Tri State Expo in Rhode Island this past week and the keynote speaker was Barry Libert, an entrepreneur/ investor and founder of Open Matters. Barry focused on why leaders of companies, small businesses and even sales teams need to listen more. I have seen a lot of inspirational speakers in the past, but this simple statement made more sense than anything else I have heard in a while.
As a small business owner, I am generally guilty of not listening enough. At a networking event, I used to go right into my sixty second elevator pitch before I have any idea why the other person is even at the networking event. I would mention that I sell websites & social media solutions for small businesses and also sell health & wellness products to consumers, before even knowing if the person I am talking to is even there. Honestly, how would I even know if the person I am talking to even needs what I have to offer? So I adjusted my sixty second pitch to ask more questions and build a relationship with the people I meet at networking events. I learned that as a leader in my industry and/or at my company when I am in a management/ director role, I need to listen to potential clients/employees before offering a solution. It only makes sense as Barry mentioned.
For anyone in sales, the first tip you learn is you need to listen to your potential client before even mentioning what you do. I always wished furniture and car salesman drill this in their head and stop selling and start listening. Make sure you get all the detail first before offering a solution.
At the corporate level, the communication between leaders and their subordinates are in dire straits. I have personally worked in corporate in various levels for the past twenty years and everywhere I worked, there always seems to be the old Berlin wall between anyone at a VP level or higher and the individual contributors. A leader at the executive level needs to listen to the professionals that work their job day in and day out to be able to gather enough data to make intelligent strategic decisions. So many times, leaders make decisions that put their companies in precarious situations that could have been avoided only if they listen. I have personally worked in five corporations so far in my career and only at one place, a large retailer based in Framingham, MA, did the president and CEO have an open breakfast with anyone that wanted to provide feedback, advice or ideas. It just so happens that of all the places I worked, this retailer based in Framingham is the most successful and to this day, the best place I have worked. Leaders here listened to their colleagues whether they were a director, manager, or individual contributor.
Finally, at the business expo, Barry kept referring to the people that did not attend his presentation that they were not listening or open to new ideas. He was right because no matter how much you know, you will never know enough. So whenever, you can, listen. Listen to others and you will build strong relationships and at the end have more success in what you do.
Friday, April 8, 2011
Monday, April 4, 2011
The Only Pyramids are in Egypt or Are They?
The word pyramid is synonymous with the network and internet marketing industry. Chances are if you own a network marketing business and are introducing the business to a prospect, the first question they ask is "Is it a Pyramid Scheme?". Unfortunately, you spend the next five to ten minutes explaining that it is not and that a Pyramid is the shape of pretty much every corporate or non-profit organization out there today. In loose terms it means the people at the top make all of the money.
So, sit back and think about your job, your real estate office, your church... who makes the most money? Chances are, it is the ones at the top of the "pyramid". So to answer the question in the title, yes the only pyramids are not in Egypt, they are all around us.
So what is network marketing anyway? I like to explain it as a way to market a product or service to your network. Your network can be family, friends, business associates, or even strangers. There are thousands of network marketing companies out there and it is considered the business of the 21st century. Why? Because it is much easier to have people in a 100% commission/ contractor role to move a product or service than to hire full-time employees to do the same. The contractor or distributor (which is the common term) runs it like a business where they spend money on training, marketing and products and make money through retail profit and commissions. A real network marketing company should not compensate for recruiting people into their organization. If it does, then it could actually be considered a pyramid in a different way, such as a Ponzi Scheme. I personally do not recommend network or internet marketing company that compensate for recruitment since there is less focus on the products and more on signing people into the business.
So the next time, you are approached about a network marketing opportunity, ask the appropriate questions such as what are products/ services, how is the training and organization, how does the compensation plan work and not is it a pyramid? You may figure it if the network marketing company is for you by asking intelligent questions. After all a network marketing company is a business just like pyramids like Target, Walmart, GE and others, but it gives the professionals at the bottom of the organization to make money like the people at the top of the pyramids!
So, sit back and think about your job, your real estate office, your church... who makes the most money? Chances are, it is the ones at the top of the "pyramid". So to answer the question in the title, yes the only pyramids are not in Egypt, they are all around us.
So what is network marketing anyway? I like to explain it as a way to market a product or service to your network. Your network can be family, friends, business associates, or even strangers. There are thousands of network marketing companies out there and it is considered the business of the 21st century. Why? Because it is much easier to have people in a 100% commission/ contractor role to move a product or service than to hire full-time employees to do the same. The contractor or distributor (which is the common term) runs it like a business where they spend money on training, marketing and products and make money through retail profit and commissions. A real network marketing company should not compensate for recruiting people into their organization. If it does, then it could actually be considered a pyramid in a different way, such as a Ponzi Scheme. I personally do not recommend network or internet marketing company that compensate for recruitment since there is less focus on the products and more on signing people into the business.
So the next time, you are approached about a network marketing opportunity, ask the appropriate questions such as what are products/ services, how is the training and organization, how does the compensation plan work and not is it a pyramid? You may figure it if the network marketing company is for you by asking intelligent questions. After all a network marketing company is a business just like pyramids like Target, Walmart, GE and others, but it gives the professionals at the bottom of the organization to make money like the people at the top of the pyramids!
Saturday, April 2, 2011
Why Everyone Needs to Network More Than Ever
The concept of networking to meet people has been around since the Model T, however it has taken a new concept in the past two or three years with all of the social media tools available since you can meet more people in shorter time. Networking is the number one way to make connections today whether is to get a job, get a client, build a relationship, heck even to meet the love of your life. Heck, I met my wife through a friend which technically is networking!
The world is a different place today. There is a lot of competition out there, globally and even in your town. You may have the best product, be the best looking, are the best speaker, but if you do not know anybody, what good is it? The more people know about you the better chance you have to be more successful in what you do.
I am hoping my message goes out to the people that prefer to network when they only really have to, when they are unemployed, when their back is against the wall whether it is with their business or their personal life. One of the first statements I make to people when they mention they have a great new job, or landed the most lucrative client, is that they should network MORE THAN EVER. Networking is a great way to build a contingency plan if the great new job or new client falls through. You will be ahead of the game and be able to recover quickly since you would have a list of contacts that you can reach out for help.
To repeat, the world is a different place today. We may never go back to being a job creating machine like we were in the mid 1990s or mid 2000s. There is too much competition globally. Professionals in places like China, India, Romania are just as smart as us and they are much more cost effective. You need to build a contingency plan for yourself and diversify what you can do and most of all, WHO YOU KNOW. Since it isn't what you know, it is WHO YOU KNOW that will lead you to your ultimate success.
The world is a different place today. There is a lot of competition out there, globally and even in your town. You may have the best product, be the best looking, are the best speaker, but if you do not know anybody, what good is it? The more people know about you the better chance you have to be more successful in what you do.
I am hoping my message goes out to the people that prefer to network when they only really have to, when they are unemployed, when their back is against the wall whether it is with their business or their personal life. One of the first statements I make to people when they mention they have a great new job, or landed the most lucrative client, is that they should network MORE THAN EVER. Networking is a great way to build a contingency plan if the great new job or new client falls through. You will be ahead of the game and be able to recover quickly since you would have a list of contacts that you can reach out for help.
To repeat, the world is a different place today. We may never go back to being a job creating machine like we were in the mid 1990s or mid 2000s. There is too much competition globally. Professionals in places like China, India, Romania are just as smart as us and they are much more cost effective. You need to build a contingency plan for yourself and diversify what you can do and most of all, WHO YOU KNOW. Since it isn't what you know, it is WHO YOU KNOW that will lead you to your ultimate success.
Sunday, March 27, 2011
Why I network so much?
A lot of people ask me and sometimes criticize me why I go to so many networking events, why do I have a side business, or even why can't you do normal things like watch a movie on TV or something. Usually, I will sit and listen and note that the majority of those people still rely on the traditional way to be a professional.. You know, go to school, get good grades, get a job 9-5 and then go home and plop yourself on the couch and watch mindless TV. Then when that 9-5 job does not exist, they use the traditional ways to look for their next great opportunity and wait and wait... These people never think of a Plan B and new ways to come across their next professional opportunity. Anyone with children are without a doubt exempt from this but interesting enough the criticism I receive are from people that do not have children or are older.
In 2007, after leaving Staples and starting a new role at another company, I decided to network more. I got involved with my alma mater's Alumni Networking Exchange at Northeastern first then also started going to local networking events in Boston. After going to these events, I discovered the "other life" of small business and entrepreneurism. I found myself more passionate and interested in small business so I decided to look for my own. For months, I looked at franchising, starting a gym, network marketing etc... finally after networking with a fellow alum at Northeastern, I decided to give internet marketing and sell health/ wellness and online shopping to my customers. In 2008, I also started become interested in helping small businesses with their website and social media presence since without this in place, the business would suffer. In the meantime, I continued to network and build a personal roledex that has now grown today to over a thousand professionals in the Boston area. So now with a full-time job, two businesses, a family, I still continued to go to networking events and am meeting on average 5-10 professionals a week. All of this networking has made me much more of an on-going person, a more confident professional and also a very popular person in the Boston networking scene. But the biggest reason I network so much is that I am able to help make connections between two professionals. I may not get a good client or a job lead ( BTW, I am in between full-time jobs) at a networking event, but I feel a sense of satisfaction if I am able to connect two people in need of the connection.
In 2007, after leaving Staples and starting a new role at another company, I decided to network more. I got involved with my alma mater's Alumni Networking Exchange at Northeastern first then also started going to local networking events in Boston. After going to these events, I discovered the "other life" of small business and entrepreneurism. I found myself more passionate and interested in small business so I decided to look for my own. For months, I looked at franchising, starting a gym, network marketing etc... finally after networking with a fellow alum at Northeastern, I decided to give internet marketing and sell health/ wellness and online shopping to my customers. In 2008, I also started become interested in helping small businesses with their website and social media presence since without this in place, the business would suffer. In the meantime, I continued to network and build a personal roledex that has now grown today to over a thousand professionals in the Boston area. So now with a full-time job, two businesses, a family, I still continued to go to networking events and am meeting on average 5-10 professionals a week. All of this networking has made me much more of an on-going person, a more confident professional and also a very popular person in the Boston networking scene. But the biggest reason I network so much is that I am able to help make connections between two professionals. I may not get a good client or a job lead ( BTW, I am in between full-time jobs) at a networking event, but I feel a sense of satisfaction if I am able to connect two people in need of the connection.
Why Cloud Computing is Going Change Small Business.
My company, AIMC Business Solutions, is known for providing websites and social media solutions for small businesses. However, another IT related business seems to be tough to ignore these days. It is called Cloud Computing. Being in IT for over 20 years now mostly in enterprise related positions where the computing infrastructure is proprietary hardware running enterprise software like Oracle or DB2, I see how expensive both from a capital and operational perspective it is to simply keep the trains running. On top of that, you need to develop, train and keep your staff happy - another operational expense. So, what are your options? Well, if you are a small company (less than 50 employees) or a company that runs the bulk of their business using SaaS (software as a service) or web-based, where the applications are run via a browser or most of all you do not like to pay for infrastructure that is not used, then cloud computing is a great option to run your business. Imagine, paying for infrastructure services only when you need them, or being able to spin up some new hardware in days or even hours because you just signed a new client. If you have a standard legacy Data Center environment with staff, it could take months to get up and running. With a cloud environment w/ managed services, you can be up and running in time to meet the agile demands of your business.
If you like more information on utilizing the "cloud" to run your business's IT infrastructure, let us know. It is important to do a three-year analysis of what it will cost you versus building a standard data center w/ staff to determine if it fits your business model.
Finally, we like your comments so please reply.
Thank you.
If you like more information on utilizing the "cloud" to run your business's IT infrastructure, let us know. It is important to do a three-year analysis of what it will cost you versus building a standard data center w/ staff to determine if it fits your business model.
Finally, we like your comments so please reply.
Thank you.
How the Internet and Social Media has changed everything.
As I mentioned in the past, in addition to my full-time career in Information Technology, I started a couple of businesses in 2008. One is an online product brokerage franchise with Market America called All In My Cart (Link: http://www.allinmycart.com). The other is a website/social media company called AIMC Business Solutions (Link: http://www.aimcbizsolutions.com). Both endeavors rely heavily on social media and the internet to market the business and make connections to people I would have never met in person.
With a single Facebook, LinkedIn or Twitter post, I can reach thousands of people in a matter of a minute. Of course, there are tools such as Tweetdeck, Hootsuite or maChatterbox that allow you to post once on all the major social media sites. The key with my businesses is to match product to people and not people to product so it is important to connect to people that need my service. With groups on sites such as Facebook or LinkedIn, you can target your potential future customers or business partners. This is a paradigm called one-to-one marketing in which my network marketing company is based on. Today, you absolute need to make sure your social media profile has complete and up-to-date information and that you are constantly networking to build your professional career. If you don't, you will be lost and considered that legacy application just like COBOL or that door-to-door salesman is today.
With a single Facebook, LinkedIn or Twitter post, I can reach thousands of people in a matter of a minute. Of course, there are tools such as Tweetdeck, Hootsuite or maChatterbox that allow you to post once on all the major social media sites. The key with my businesses is to match product to people and not people to product so it is important to connect to people that need my service. With groups on sites such as Facebook or LinkedIn, you can target your potential future customers or business partners. This is a paradigm called one-to-one marketing in which my network marketing company is based on. Today, you absolute need to make sure your social media profile has complete and up-to-date information and that you are constantly networking to build your professional career. If you don't, you will be lost and considered that legacy application just like COBOL or that door-to-door salesman is today.
Why I started my network marketing business.
I have been in Information Technology and was always an introvert and was always gun shy to go after what I want whether it was regarding relationships or my professional career. Even though I was an introvert, I always tool care of myself and am in good shape. Since I am a gym rat, I am willing to try any supplement that would improve my performance at the gym. As with most supplements, my body could never absorb the nutrients until I met my business partner Sue, who introduced me to Torch Sports Nutrition and Isotonix. I started taking these supplements and noticed my performance and strength at the gym improving and I was generally feeling better and never getting sick. I also realized that I can sell these products and spread the wellness to my family and friends. This is when I discovered the Market America business. I looked into the business and its compensation plan and was intrigued since there was no other network marketing business like it, so I registered my business in 2008. When I started promoting my business, I also noticed that I was turning into more of an extrovert and was more confident talking to people. Market America's training was a major reason for my new professional view on life. I also planned to use the money earned for my retirement fund. My plan is to retire from corporate when I turn 50. Then again, in Information Technology, good luck getting a job after turning 50.
So in summary, the reason I have started my Market America business is the PRODUCTS, CAREER ASPIRATIONS and MY RETIREMENT. I also remembered that you always need a Plan B, and Market America is my Plan
So in summary, the reason I have started my Market America business is the PRODUCTS, CAREER ASPIRATIONS and MY RETIREMENT. I also remembered that you always need a Plan B, and Market America is my Plan
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