Tag Archive: benefit

Sales Thought – Before The Cold Sets In

by Nick Miller of Clarity Advantage

In which we are reminded to engage our clients on what’s top of mind for them right now rather than on what’s top of mind for us.

I live near Boston, Massachusetts.  The Red Sox are finished.  Winter is coming.  Around the Miller household, we are preparing our house and garden for the winter.  Storm windows hung up, hosta cut down, lime and fertilizer spread around. Early days, still, and we’re working our way through the list, week by week, toward the inevitable arrival of sharply colder temperatures and snow.

As a business owner, I’m feeling like I’m in the same position now – another economic winter is coming, and I need to prepare.

The news coming out of the Eurozone ranges from “not encouraging” on a good day to “frightening” on other days.  U.S. and foreign stock market heaves and rolls leave me sea sick as my investment values bounce up and down, almost carelessly. The political and regulatory environment in this country leaves me shaking my head.  Our clients’ outlooks for 2012 range from guarded optimism to bracing for a crash.

Banks Have Right To Hold Tight In Paying Cheques – Ontario Court holds that banks need not bear the risks of cheques being dishonored

By Lisa Brost and Jeffrey Levine of McMillan LLP

Generally speaking, banks’ customers have no immediate right to the proceeds of the cheques that they deposit. Under the terms of most banking services agreements, banks can place holds on cheques deposited by their clients for a reasonable period of time. Further, even if a hold is not put on a cheque, any advance of credit by a bank on deposit of a cheque is usually provisional in nature. The cheque may still be returned, or dishonoured, by the bank on which the cheque is drawn, leaving the bank that provided provisional credit in respect of the cheque with recourse to recover such amount from its client.

These guiding principles of the cheque payment process were recently considered by the Ontario Superior Court of Justice in Re*Collections Inc v The Toronto-Dominion Bank.1 The plaintiffs in this action moved to certify a class action against three of Canada’s six major banks (the “Banks”). In the proposed class action, the plaintiffs sought to recover profits that the Banks allegedly earned at their customers’ expense through use of the proceeds of held cheques between the time that cheques were deposited by their customers and the time that the proceeds of the cheques were made available to the customers.

Top Ten Tips for Dealing with Business Method Patents in Canada

By  Grant W. C. Tisdall & Christopher C. Van Barr of Gowling Lafleur Henderson LLP

Will Canada Become a Haven for Non-Practicing Entities to Litigate Their Claims?

This list of top ten issues will canvass the law of business method patents in Canada and will consider the impact of the recent Amazon case on your business.

1.         Understand that Canada is open to business (method patents).

With its thorough and, at times, bracing decision in Amazon, the Federal Court of Canada affirmed that business methods are patentable subject matter in Canada. In its decision, the Court overturned the Patent Appeal Board’s decision to refuse the Amazon application and virtually chastised the Board for entering “into policy-making which stands to fundamentally affect the Canadian patent regime.” The Court noted that “the Patent Act is not static; it must be applied in ways that recognize changes in technology such as the move from the industrial age to the electronic one of today.”

Read the full article – Top Ten Tips for Dealing with Business Method Patents in Canada

Sales Thought – An Early Lesson

by Nick Miller of Clarity Advantage

In which we are reminded to focus first on relationship and value demonstration, then on the commissionable task.

On a spring afternoon long decades ago, we sat almost knee to knee in a hotel lobby after a sales and marketing conference we’d both attended. She, leaning back, almost lounging, on a hotel lobby couch. I, sitting on the edge of an arm chair, facing her, leaning forward. She reached into her purse, fished around, and pulled out a pencil.

“Sell me this.” Her eyes barely moved.

I looked at the pencil. It was a standard yellow wood #2 pencil that, in her hand, looked as big as a shovel.

“Come on,” she purred, extending her pencil-bearing hand toward me. “Sell me this pencil. It can be anything you want.”

Sales Thought – Home Ice

by Nick Miller of Clarity Advantage

In which we are reminded that, to win in a competitive situation, we need to build our fan base inside our prospects’ organizations well before we make our move to sell.

The Boston Bruins (National Hockey League defending Stanley Cup champions this year) began their training camp last Friday.  The seventh (final) game of their 2011 Stanley Cup series against the Vancouver Canucks was electrifying hockey, whether one was rooting Bruins or Canucks, and Boston’s win at the end was a surprise because… .through the first six games, each team had won on its home ice,  the seventh was game was played in Vancouver, and, in the National Hockey League, home teams win 59% of the time. Home ice advantage.  Fifty-nine percent!

Shocked?  Well hang on. If you’re a National Basketball Association fan, home teams win 62.7% of the time.  Almost TWO THIRDS of the games are won by home teams.  Home court advantage. And it’s about the same in the WNBA as well. Amazing, eh?

Sales Thought – Matted Down

by Nick Miller of Clarity Advantage

In which we are reminded to follow our “broad” questions with very specific questions that tease out the detailed facts we need to propose value-based solutions.

With apologies to y’all in Texas and other states who haven’t had rain or grass for a couple of years:

I mowed our  lawn on Saturday. Beautiful day for mowing, just a little bit of cool fall air with brilliant September sunshine.   Thanks to recent rains and the fall dose of lime and fertilizer, our lawn is thickly green, punctuated with early fall leaves.

One small hitch in the giddy-up.  The ride-on lawn mower we use for grass and leaves at this time of year features wide front and rear tires that matt down the grass so that the mower blades ride over the matted grass which can get pretty long, even when we’re mowing weekly. So, after we mow, we rake portions of the grass, teasing up the matted down long bits so that we can clip them with hand-clippers or mow them with the standard rotary mower.

Sales Thought – Totally Concrete

by Nick Miller of Clarity Advantage

In which we are reminded to clarify terms we don’t understand before presenting ideas.

One person’s golf is another person’s word play – meaning, I love a good pun as much as my golfing friends love a good drive or putt.  I love rough puns a lot more than my friends enjoy hitting balls into the tall grass.

Anyhoo, a couple of weeks ago, during the “warming up” stage of a conference call, a few of us on the line began fooling around with puns and plays on words we remembered hearing from our elementary school children.

One of the group offered:

Two fish swim into a concrete wall. The one turns to the other and says, “Dam!”

The folks on the line guffawed appropriately.

Another offered:

Sales Thought – Old Habits

by Nick Miller of Clarity Advantage

In which we are encouraged to ask others to help us identify and correct old habits that hold us back.

From the “I can’t believe I’m going to tell you this story and you probably won’t either and there won’t be many secrets left after I tell you this one” department: for several decades, I have had a problem eating. Actually, I haven’t had a problem “eating,” as in chewing, swallowing, and enjoying the multiple benefits of a balanced diet. I had a problem getting food into my mouth reliably. (I can see my spouse and children rolling their eyes now.)

Sales Thought – Simple, Neat, and Incomplete

by Nick Miller of Clarity Advantage

In which we are reminded to step back and look for the broader picture before we pitch solution for the problem we’ve just heard.

Watching classroom sales training role-plays is a little like watching football teams practice without pads…  Low intensity.  Move through the motions.  Nobody trying too hard to take anyone else out.  Still, an observer can get a general sense of the team.  Essential tendencies shine through.

So, as I was watching and coaching this particular set of “pad-free practice role-plays,” I saw an essential tendency.  As the “sellers” in the role plays heard a bit of information that suggested a potential need for a product, they would say, almost reflexively, “if I could show you a way to…”  or “we have a product that would help you….”

Sales Thought – A Little Excitement

by Nick Miller of Clarity Advantage

In which we are reminded that we need to market (attract attention) before we can sell.

Last Saturday morning, after early morning dark clouds and rain, I left my office in West Concord village to tackle Saturday morning errands. Turning left from my office drive way, I  reached the first intersection, stopped to look both ways for traffic, and noticed…

People on the sidewalks, both sides of the main street, huddled around tables, kibbitzing in clumps, as far as the eye could see. “Huh,” I thought, feeling curious. “I wonder what THAT’S about….”

Sales Thought – It Isn’t Only About the Money

by Nick Miller of Clarity Advantage

In which we are reminded that our clients make decisions to change based on a broader set of factors than cost savings and that, sometimes, cost savings isn’t even first on the list.

I answered the ringing phone at 5:15 pm. Every sales rep’s dream, right? Get to the senior executive after 5:00, when the gatekeeper is gone? The sales rep at the other end of the line, Jamie, sounded a little startled to hear my voice.

Jamie: “Mr. Miller?”

Me: “Yes.”

Jamie: “Um…er… This is Jamie Enders at Vital Communications. I’ve been speaking with your assistant, Carla.”

Me: “Yes, I’m aware of your conversations.”

Jamie: “Oh, good. Well, I’d like to come in to meet with you for 20 minutes to show you how we can save you money on your phone bill.” [This meant: "I haven't been able to convince Carla and I'm hoping I can persuade you."]

Sales Thought – Selling the Strengths

by Nick Miller of Clarity Advantage

In which we are reminded to sell the strengths we have rather than those we wish for.

On Saturday, I invested a day with my family and a few friends to join fellow citizens for some tornado relief. We drove west to a pretty Massachusetts town, a portion of which hard- hit by the early June tornados. We became “Team 5,” assigned to assist a homeowner clear her property.

If you looked at the overhead map of her street, you would see trees… acres of trees… so thick that no perennial flowers would grow.  Her house sits close to the top of a hill on a street that the tornado apparently liked, for it crossed the Connecticut river and, moved straight up her street and over her hill.

Understanding Holding Companies

by June Rudderham of Nelligan O’Brien Payne LLP

A holding company is a company that owns shares in another company.  If the holding company owns the majority of shares of another company, it is also referred to as a parent company.  It generally does not produce goods or services itself.  The sole purpose of a holding company is usually to own shares in another company.

The reasons for establishing holding companies are diverse.  They may be created to operate for a short period of time or as part of a long-term plan.  Whether it is better to form a holding company to hold your shares rather than you holding them personally requires significant consideration of your individual circumstances and proper advice from qualified professionals.  Factors to consider include the nature and revenue of the business, the jurisdiction in which the business owner resides, and the business owner’s long term goals.  In this article I have outlined some of the benefits and drawbacks associated with creating holding companies.

Sales Thought – Stir ‘Em Up

by Nick Miller of Clarity Advantage

From the “Unreferred Approaches to Prospects” Department: We are reminded that we can’t pitch our benefits to prospects unless we first get their attention.

Pitching benefits to prospects is a complete waste of time

I was at the office pretty late Friday night. Tooled into the house around midnight. Why? Email. LOTS of email…combined with “Nick’s Rule of Roughly 20” which goes something like, “You can’t leave the office Friday night until there are roughly 20 or fewer emails in your email box.”) Needless to say, Friday night is NOT a big date night for me.

However, on many Friday nights, I am delighted because my email box has filled with cold-approach prospecting emails. And I read all of them.

And, do you know what I’ve learned? Pitching benefits in those cold approach emails is a complete waste of time… IF… the email senders want me to pay attention to their messages. Their benefits and whoop-dee-doo roll into an indistinguishable drone:

  • Decreased X  by over 10% in the first 3 months of engagement
  • Increased Y  by 23% in 5 months
  • 30% – 40% decrease in Z  year over year

True, but completely predictable and, therefor, booooooooooring. Will not get prospects’ attention.

What to do differently?

Sales Thought – No Bonehead Mistakes

by Nick Miller of Clarity Advantage

In which we are reminded that even small mistakes can fatally undermine our credibility and effectiveness with prospects.  

So… I bought a new pair of shoes from an on-line provider.  Not your basic New England conservative black or ox blood penny loafer, mind you. No! Shoes with MUCH more style and swing to them – enough that my very socially-aware son commented, “Nice shoes.” Life doesn’t get much better than that. Really stepping out.

And, being the care-taker that I am, I wanted to know how to maintain and care for the shoes, The leather is a little different from what I’m used to. So, I went to the manufacturer’s web site, found the “contact us” page, wrote my questions, and sent the message to the company.  A big company, I might add, a very well known, been-around-a-long-time shoe company.

About 5 minutes after I sent the email, I received an email from the company, in return. “Ah,” I guessed, delighted, “a confirmation email” which read, when I opened it…

Thank you for your inquiry.