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Monday Morning Motivators – November 19, 2007
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Enjoy your java with an eclectic collection of tips and ideas to use today and to get energized for the week ahead. Subscribing and unsubscribing at www.mondaymorningmotivators.com
“As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them.”
--John Fitzgerald Kennedy
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Table of Contents
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1. Are We There Yet? – Linda Fayerweather
2. Holiday Giving - Rebecca Booth
3. Say “Thank You” – Pat Altvater
4. Abundant Thinking versus Scarcity Thinking – Paula Frazier
5. To Do This Week
6. Fine Print
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1. Are We There Yet?
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As a kid, I can remember on holidays riding in the car and actually saying “Are we there yet, Dad?” His answer was to teach me to read maps and estimate miles-to-destination using my thumb as a measuring tool comparing its length to the legend. I knew how many “thumbs” it was to Bannister, Michigan and about how long it took to go a “thumb”.
In business, I find it helpful to know when we are “there” and “there” in my book is profit. When selling a product it is critical to know your cost of goods sold and your overhead*. With a service, you will need to know all your costs to find profit. After you have all these estimates, you can now project profit. Many people make the mistake of thinking if we want 20% profit on a job or item, you multiply the total cost by 20% and add that to your price. This will give you a 17% profit not 20%. Sound strange? Well, it is just a little algebra.
Here are the common multipliers to get your price with the proper profit percentage. Yes, the decimals do make a difference.
Multiplier for 10% profit is 1.11. Costs time l.ll = Price with 10% Profit!
Multiplier for 15% profit is 1.18.
Multiplier for 20% profit is 1.25.
Multiplier for 25% profit is 1.33.
Multiplier for 30% profit is 1.43.
So, how many thumbs do you need to go to get “there”?
Copyright 2007 Linda Fayerweather
Changing Lanes LLC
www.ChangingLanes.biz
*Overhead = everything you pay for even if you have no sales!”
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2. Holiday Giving
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When thinking of holiday giving this year, think outside the box and consider a "tail-waggin' product" as a gift. Gifts for dogs and cats are not only useful but can help you stand apart from the traditional gifts of food, wine, chocolate. As a matter of fact many incentive companies are offering lines of brandable dog products ranging from a simple bandanas and kerchiefs to reversible raincoats. Whether or not you want your company logo on a piece of clothing worn by a pet is up to you. The simple act of remembering that your client has a beloved pet at home what matters most.
Copyright 2007 Rebecca Booth
Marketing Goddess
Imagine That!
www.marketingsolutioneers.com
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3. Say “Thank You”
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It’s Thanksgiving, a time for counting our blessings. We have so many things to be grateful for: our relationships, our health, our careers, our homes, cars, and other material possessions. However, cultivating an “attitude of gratitude” that is a part of your life every day not just during the holidays is truly a blessing. This is a feeling of gratitude for the adventure that is your life, for anything and everything you experience; the good, the bad and the ugly! Say “thank you” to the butterflies that grace your path, the people who treat you unkindly or unfairly, your emotions that help you find your way to new learning, your exciting new idea! For information about a simple daily gratitude process visit my website at www.transformationsinstitute.com/ArticlesLinks.html. Happy Thanksgiving, not just this Thursday but every day!
Copyright 2007 Patricia Altvater
Transformations Institute
Author, Journey to Health 12-Month Total Transformation Program
www.transformationsinstitute.com
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4. Abundant Thinking versus Scarcity Thinking
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It is tough getting people to focus on their specialty within their industry to identify their target market. Automatically they begin to fear all that they might miss. “If I ask my referral sources to introduce me to doctors, I might miss out on all the butchers, bakers and candlestick makers.” This is a prime example of scarcity thinking. The truth is; the more focused your market the more specialized you become and the more valuable you are to your clients and referral sources.
What is your specialty? How do you set yourself apart from everyone else in the industry? Do your competitors (people in your industry) seek you out as an expert?
When you have a niche, you limit your competition, because you develop the reputation as the “Go to Person” for that niche and there are usually few players in that field. The fewer the players the more valuable your product or service becomes. You will find that even your “competitors” will seek you out to help their clients. When that happens, you ALL win - you, your collaborative relationships and the people with needs for your products and services.
That is abundant thinking!
If you’d like more tips, tools and techniques to begin identifying your own target market visit http://www.referralinstitute.com.
Copyright 2007 Paula Frazier
Co-written by Paula Frazier & Hazel Walker
Executive Directors for BNI & Master Trainers for Referral Institute
Executive Director
BNI – Southwestern Virginia
http://bniswva.com
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5. To Do This Week
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See what will happen when you say thank you when least expected!
