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The 2 Psychological Factors Motivating Customers to Buy

Posted by Paul Vella on December 22, 2014

selling

If you work in sales (that is all of us in some way, right?), it is helpful to understand the psychology behind how buyers make their buying decisions. Start with these three steps:

1. Current dissatisfaction. Every purchase decision (every decision, no exceptions) begins with a buyer's current dissatisfaction. Feeling dissatisfied with something automatically makes a person a buyer.

As soon as that dissatisfaction sets in, buyers begin looking for a way to right the wrong. As a sales person, it becomes your job to discover that "wrong" and lead buyers toward the new "right."

Current dissatisfaction serves as the primary motivating factor. The greater the dissatisfaction, the higher the urgency. Read more...

45 Sure Ways to Wreck Your Customer Relationships

Posted by Paul Vella on December 5, 2014

customer relationships

I recently read a quote by Richard Branson that I think really hits home. Says Branson, "Customers may be our heart, but our people are our soul." In any business, it's the people who work in it who serve customers, and it's up to leaders to serve their people so they can provide great service.

However, some employees don't understand the importance of providing customers with great service. Instead, they take them for granted--and sometimes even abuse them. This of course is unacceptable.

Says Frank Sonnenberg, small-business expert and author of Follow Your Conscience, "You work hard to attract new customers. Why not invest the same effort in retaining them?" Read more...

Two Key Factors to Consider When Scaling Your Company

Posted by Paul Vella on December 1, 2014

Scaling Your Company

The C100 recently held its annual Accelerate Toronto event. These events, which take place across the country, celebrate and showcase technology entrepreneurship and innovation. This year’s theme was about scaling from anywhere, and as co-chair of the C100, I’ve had firsthand exposure to what it takes to successfully grow a technology company.

While every entrepreneur needs to think about product, market, customer acquisition and – in many cases – financing, it’s the talent and support from the ecosystem that are truly essential to scaling a tech company.

1. Think about your management team early and often. Most entrepreneurs realize the importance of building a product or platform to scale from day one. But scaling a team is often a more challenging proposition. The smart, scrappy team that can get a company off the ground doesn’t necessarily have the relevant expertise to get that company to IPO.

Adding an executive layer to a company can be difficult, especially for those entrepreneurs who are doing it for the first time. These founders may not know what an experienced executive in certain functional areas looks like in action, so don’t necessarily know when to hire for the role, what to look for, and how much positive change the role can effect. Read more...

"Whenever you have the chance to draw from your network, be open to listening to advisers and be aware of what you don’t know. The best entrepreneurs I work with are bold, but they listen – they’re like sponges who take all the data they can from the market and from trusted sources, synthesize that information and then make the best decisions they can based on the information they have at hand. They build a solid executive team as the company scales and build a strong, supportive ecosystem around them to help propel their company forward." Equilease's expert leasing advisors have decades of industry-leading knowledge and experience. Consider us your best business ally -- part of the team -- ready to help your business grow and succeed!

 

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