Death, they say, will occur to all of us. The timing and the way it occurs is what worries all of us. Always untimely, unpredictable.
At about 8:00pm on 30th March 2015, two rascals, riding on a Bodaboda took matters in their own hands to cut short Joan Kagezi’s illustrious life, an advocate and prosecutor. She stood for justice, and handled cases that shook the country.
If you are 25 years and more, you have probably spent the last 18 years investing in your technical skills. Going through nursery, primary, secondary and now University – trying to acquire a specialized degree. If you are lucky, you could have picked some great practical skills along the way. Skills like cooking, communication, leadership, planning, etc.
How much money have you invested in your life or process skills? I am one of the folks with several international qualifications including an MBA. I realized rather late that technical skills are good but just.
Success is all about overcoming rejections and objections so much that if you see you are attaining success without significant objections, you should get worried. Something may be wrong somewhere. Before we go deep into understanding how to handle rejections, we need to know the types. What kind of rejection are you likely to face?
Types of rejection
- Business sales rejections: Most of the time you are going to face rejections if you are approaching a wrong person. For example, you are sales person selling a product to a prospect you have not carried out any groundwork about. If you have not done enough research about your prospect, you tend think the product you are selling to them is ideal yet they want something different. Most of the business sales rejections I have experienced are because I have tried to sell a product which I think is good for the prospect when actually it isn’t. In most cases you will face such rejections simply because your product does not add value to the prospect’s condition. To avoid such a rejection, you must ask: who is my target person. What are their pain? Try to sell them products that fix their pain.
As a guerrilla marketer, your primary focus is to optimize business from existing customers. Your current customer is 8 times likely to buy another product or service from you than a new prospect. For this reason; guerrilla marketers focus their energy concurrently as follows:
- 65% focus on current and past customers
- 25% focus on prospects and new business – sell to individuals and market to groups
- 10% focus on the rest – universe.
Success in sales and marketing is a result of deliberate actions. You must identify the 80% of your customers who bring the 20% of your revenue and focus to make them very satisfied. To do that, understand your customer value. How much income do you get from a particular customer in a year? How much cost does this involve? What is the net income from a particular client? Then prioritize the client as much as possible depending on the income you get from them.
Many young executives and corporate people tend to think that they know everything. That is great.
However, information is not the problem.
Failure to take action is. Plus, many people take decisions based on hearsay and not data. And that is why they continue to think that their investment decisions are great, which is wrong.
One of the common questions I am often asked is:
If I have Ugx. 5m (US $2,300), which top 3 investments would you advise me to invest in Uganda and why?
There are several reasons why you may not attain peace at your home.
1. You don't have a clear strategy or model of how to manage family finances. Many of the people in my private mentor-ship program complain about their spouses when it comes to managing family finances. Do you operate a join family bank account, on which both of you are signatories. The question then is how much should each contribute to that account monthly? Do you contribute equally?