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High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
High  Trust  Selling  B I Z
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High Trust Selling B I Z

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  • 1.  
  • 2. High Trust Selling Make more money in less time with less stress AUTHOR: Todd Duncan PUBLISHER: Thomas Nelson Publishers, Nashville DATE OF PUBLICATION: 2002 NUMBER OF PAGES: 252 pages Book pic
  • 3. <ul><li>Serious about the business of selling? </li></ul><ul><li>Tired of living from one sale to the next? </li></ul><ul><li>Do you want to keep clients for life? </li></ul><ul><ul><li>Then read this book and apply these valuable lessons that add value to what you are selling, and to your life. </li></ul></ul><ul><ul><li>The whole premise is to serve fewer clients a high quality experience and build long-lasting relationships, resulting in more free time to spend with your family and friends, less stress, greater income, and genuine success for you! </li></ul></ul>THE BIG IDEA
  • 4. 1. THE LAW OF THE ICEBERG The true measure of success is invisible to your clients <ul><li>To begin, you need a firm foundation or reason for being. Let’s take the pharmaceutical giant, Merck. This company makes, among other drugs, low-cost AIDS drugs for patients in poorer countries. </li></ul><ul><ul><li>Selling and business is more about service than about making money. </li></ul></ul><ul><ul><ul><li>Your purpose has got to be deeper than just earning a profit. </li></ul></ul></ul><ul><ul><ul><li>People are more motivated when they know they are doing something that makes a difference. </li></ul></ul></ul><ul><li>If you don’t have a strong sense of purpose in what you do, you will be heading fast down the wrong direction, and will end up hating yourself when you look in the mirror. </li></ul><ul><li>Clarity in purpose in your life and why you are doing what you do is essential. </li></ul>
  • 5. 1. THE LAW OF THE ICEBERG The true measure of success is invisible to your clients <ul><ul><li>Without it you will burn out, feel frustrated, and put too many things on your plate. </li></ul></ul><ul><li>Application to sales leadership: </li></ul><ul><ul><li>Sit down with your team and have individual one-on-one sessions with each member to make them think about their own personal vision and how it integrates with the company vision. </li></ul></ul><ul><li>Keep in mind some people will realize that sales may not be the right profession for them. </li></ul>
  • 6. <ul><li>Take a new perspective on failure. </li></ul><ul><ul><li>You will never achieve your peak if you are afraid of taking a risk. </li></ul></ul><ul><ul><li>Think of failure as a temporary setback, not a dead-end. </li></ul></ul><ul><ul><ul><li>Just like going on a lot of blind dates before you meet the right person, you need to see your prospecting in sales the same way. </li></ul></ul></ul><ul><li>Every failure is supposed to be an opportunity to learn something, not a reason to give up. </li></ul><ul><ul><li>Understand that failure is ok. It is perfectly normal. Failure is your greatest teacher. </li></ul></ul><ul><ul><li>Failure is the force that compels you to climb higher. </li></ul></ul><ul><li>If you’ve lost the trust of a client, have you tried to win him back? </li></ul>2. THE LAW OF THE SUMMIT Your direction is a result of your perception
  • 7. <ul><li>Sales leadership application: </li></ul><ul><ul><li>As a leader, be big enough to admit your own mistakes. Help others on the team perceive failure differently. Have debriefings and post-mortems to learn from failures and give them the freedom to try again. </li></ul></ul>2. THE LAW OF THE SUMMIT Your direction is a result of your perception
  • 8. <ul><li>If you think like you own the business, you will start to make more money quickly. There’s nothing like responsibility and accountability to get your butt moving. </li></ul><ul><li>Employees only do what is expected of them and nothing more, but business owners will go out on a limb to please a client, and try to make the best use of their time. </li></ul><ul><li>A business owner will invest money in order to make more money. </li></ul><ul><ul><li>She’ll call on the right prospects instead of just any prospect. </li></ul></ul><ul><ul><li>A CEO puts people before profits, reputation before revenue, schedules priorities, and thinks about long-term strategies. </li></ul></ul><ul><ul><li>Success is never accidental. It has to happen by design. </li></ul></ul>3. THE LAW OF THE SHAREHOLDER Successful salespeople buy stock in themselves.
  • 9. <ul><li>Top ten investments you can make in your future: </li></ul><ul><ul><li>Invest in your relationships with those you love. </li></ul></ul><ul><ul><li>Invest in a long-term personal development program. </li></ul></ul><ul><ul><ul><li>Get enough training. </li></ul></ul></ul><ul><ul><ul><li>Find yourself a mentor. </li></ul></ul></ul><ul><ul><ul><li>Read and keep learning. </li></ul></ul></ul><ul><ul><li>Invest in a sales coach. </li></ul></ul><ul><ul><li>Invest in a competent right-hand assistant. </li></ul></ul><ul><ul><ul><li>This will free up time for you to do relationship building with the right clients. </li></ul></ul></ul><ul><ul><ul><li>Your assistant should take care of all the things that take up too much of your valuable time. </li></ul></ul></ul><ul><ul><li>Invest in your personal image. </li></ul></ul><ul><ul><li>Invest in a personal financial plan. </li></ul></ul>3. THE LAW OF THE SHAREHOLDER Successful salespeople buy stock in themselves.
  • 10. <ul><ul><li>Invest in a regular exercise program. </li></ul></ul><ul><ul><li>Invest in a client-retention program. </li></ul></ul><ul><ul><ul><li>This means having creative marketing tools, innovative follow-up, value-added gifts, and making use of client feedback. </li></ul></ul></ul><ul><ul><li>Invest in a library </li></ul></ul><ul><ul><li>Invest in technology </li></ul></ul>3. THE LAW OF THE SHAREHOLDER Successful salespeople buy stock in themselves.
  • 11. <ul><li>If you don’t have a good plan, then you are planning to fail. </li></ul><ul><ul><li>When it comes to selling, hope is not a strategy. Once you begin to develop clarity in your future, you become more productive in your present. </li></ul></ul><ul><li>You need to take time to think and write down your Core Four. </li></ul><ul><ul><li>These are your core plans namely, your Life plan, your Business plan, your Time plan, and your Client plan. </li></ul></ul><ul><li>Life planning must include your purpose, values, vision, short-term and long-term goals, plus the daily activities you need to accomplish to move step by step towards success. </li></ul>4. THE LAW OF THE LADDER The success you achieve is directly related to the steps you conceive.
  • 12. <ul><li>Your business plan: </li></ul><ul><ul><li>Determine volume goals (monthly and annually) </li></ul></ul><ul><ul><li>Determine daily numbers/targets </li></ul></ul><ul><ul><li>Establish lead generation and management strategies </li></ul></ul><ul><ul><li>Establish standards for prospects and clients </li></ul></ul><ul><ul><li>Employ target marketing </li></ul></ul><ul><li>Your time plan: invest the majority of your working hours selling to prospects and clients who have given strong indications they are satisfied with the product, share your core values, and desire a long-term, mutually beneficial relationship. </li></ul><ul><li>Your client plan should concentrate more on serving the low maintenance-high return clients, and the low maintenance-repeat-business clients. </li></ul>4. THE LAW OF THE LADDER The success you achieve is directly related to the steps you conceive.
  • 13. <ul><li>With all these plans written down, you can then gear yourself up for implementation using the idea of the 90-day burn. </li></ul><ul><ul><li>Focus on your goals and nothing else for the next 90-days, before your actual sales “launch”. </li></ul></ul>4. THE LAW OF THE LADDER The success you achieve is directly related to the steps you conceive.
  • 14. <ul><li>Let the cat out of the bag, so to speak. </li></ul><ul><ul><li>Announce your goal to others who will be able to check on your progress. </li></ul></ul><ul><ul><li>This means putting a deadline on your step-by-step action plan. </li></ul></ul><ul><li>You will follow through when there are colleagues and people around you who can engage in friendly competition with you. </li></ul><ul><li>Look for professionals in your field who will hold you accountable to every date you set for yourself. </li></ul>5. THE LAW OF LEVERAGE You’re less likely to fail when you’ve told others you will succeed.
  • 15. <ul><li>Treat time as a resource, as important as money. </li></ul><ul><ul><li>Mike Vance of Disney had to think out of the box and devise ways to make Disneyland more profitable by the hour. </li></ul></ul><ul><ul><li>The park began a tradition of holding high school graduation nights to increase revenues at little operational cost. </li></ul></ul><ul><ul><li>A Magic Kingdom Club organized club nights at a discount and special programs. </li></ul></ul><ul><ul><li>This move generated enough popularity to open the park every day. </li></ul></ul><ul><ul><li>This is one example of how you can exploit the time you have and thereby increase revenue. </li></ul></ul><ul><li>You need to value each working hour as much as a doctor, lawyer, or graphic designer does. </li></ul><ul><ul><li>If you don’t put a value on your hour, you will waste time on many unprofitable tasks. </li></ul></ul><ul><ul><li>You will notice the 80/20 rule applies to time. </li></ul></ul>6. THE LAW OF THE HOURGLASS You must make your moves before your time runs out.
  • 16. <ul><ul><li>Eighty per cent of your major earnings may come from twenty percent of your clients. </li></ul></ul><ul><ul><li>You need to work smarter and determine the right 20 percent and concentrate on those who are truly worth your time. </li></ul></ul><ul><li>Notice how the 80/20 rule applies to a lot of things: </li></ul><ul><ul><li>80 percent of the day’s interruptions come from the same 20 percent of the people </li></ul></ul><ul><ul><li>80 percent of the decisions in meetings come from 20 percent of the meeting time </li></ul></ul><ul><ul><li>80 percent of the company sales come from 20 percent of the sales force </li></ul></ul><ul><ul><li>80 percent of your staff headaches come from 20 percent of your employees </li></ul></ul><ul><ul><li>80 percent of your success comes from 20 percent of your efforts </li></ul></ul>6. THE LAW OF THE HOURGLASS You must make your moves before your time runs out.
  • 17. <ul><li>Think about it. </li></ul><ul><ul><li>The more time you spend working means less time for your loved ones. </li></ul></ul><ul><ul><li>Your life doesn’t have to be all about selling. </li></ul></ul><ul><ul><li>If you determined which 20 percent (clients, tasks, meetings) really matter, and concentrate your efforts on the right client relationships, then you can easily cut down your work hours from 70 to 35 in one week, and still make the same amount of money, perhaps even more. </li></ul></ul>6. THE LAW OF THE HOURGLASS You must make your moves before your time runs out.
  • 18. <ul><li>Stop spending your time reacting to situations that arise throughout your day. </li></ul><ul><ul><li>If you spend everyday putting out fires, you won’t have time for the important, long-term work of building a good relationship of trust with your more profitable clients. </li></ul></ul><ul><li>Be more proactive and practice time-blocking. </li></ul><ul><ul><li>Plot out your entire week and chart your exercise, family time, meetings, lunches, rest, lead calling, emailing, and team building. </li></ul></ul><ul><ul><li>Use time to plan, prospect, follow-up, sell, resell, and add value to your key clients and partners. </li></ul></ul><ul><li>Spend more time improving your product knowledge, generating leads, identifying prospects, improving presentations, creating marketing material, follow-up materials, and managing customer objections. </li></ul>7. THE LAW OF THE BROOM To build your business up, you must first clean it up.
  • 19. <ul><li>Do not waste all your time doing filing, paperwork, faxing, copying, managing crises, dealing with high-maintenance/low-profit customers, telephone interruptions, email interruptions, gossiping, taking long lunches, and hanging out with whiners. </li></ul>7. THE LAW OF THE BROOM To build your business up, you must first clean it up.
  • 20. <ul><li>The Approach </li></ul><ul><ul><li>Your opening lines are the most important ones. </li></ul></ul><ul><ul><ul><li>You need to build up your passion for your product, and immediately give what value it will add to your client’s business. </li></ul></ul></ul><ul><ul><ul><li>The aim is to get an appointment and get them curious enough to want to meet up with you and find out more. </li></ul></ul></ul><ul><li>The Interview </li></ul><ul><ul><li>Don’t keep on trying to close. </li></ul></ul><ul><ul><ul><li>You need to listen first and see what your prospect really wants from your product. </li></ul></ul></ul><ul><ul><ul><li>Selling is about providing a solution and addressing a need. </li></ul></ul></ul><ul><ul><ul><li>If you haven’t established there is a need, you won’t get anywhere near the close. </li></ul></ul></ul>8. THE LAW OF THE DRESS REHEARSAL Practice your lines elevates the level of your performance.
  • 21. <ul><li>The Solution </li></ul><ul><ul><li>Script your solutions to a client’s specific needs. </li></ul></ul><ul><ul><ul><li>In general, most want to trust in your experience, knowledge, integrity, professionalism, accessibility, flexibility, and responsiveness. </li></ul></ul></ul><ul><ul><li>Concerns about your company normally include location, delivery, technical support, reputation, innovativeness, financial strength, market share, product line, and research and development. </li></ul></ul><ul><li>The Action </li></ul><ul><ul><li>Getting the “yes” comes after you have understood the prospect’s needs, answered all their questions, provided solutions, and confirmed their indication that they would like to move to the next step. </li></ul></ul>8. THE LAW OF THE DRESS REHEARSAL Practice your lines elevates the level of your performance.
  • 22. <ul><li>Managing objections </li></ul><ul><ul><li>Practice playing out different scenarios where a prospect is not yet convinced to buy into your product. </li></ul></ul><ul><ul><ul><li>You need to be prepared for their objections. </li></ul></ul></ul><ul><ul><ul><li>The more ready scripts in your head tailored to a particular prospect, the greater your chances of success will be. </li></ul></ul></ul>8. THE LAW OF THE DRESS REHEARSAL Practice your lines elevates the level of your performance.
  • 23. <ul><li>It only takes a few minutes to make a list of your best prospects. </li></ul><ul><ul><li>This list will save you a lot of time and energy in the long run. </li></ul></ul><ul><ul><li>The best prospects are low maintenance/ high profit prospects. </li></ul></ul><ul><ul><li>If they are easy to serve because of a high level of professionalism, have a great desire to partner with you, and have efficient business practices these are the ones that go on your list. </li></ul></ul><ul><ul><li>Even low maintenance/ low profit types are fine because they eventually grow into the relationship and offer more referrals. </li></ul></ul><ul><li>High trust selling has a lot to do with constant and quick communication with your prospects. </li></ul><ul><ul><li>If it takes you 3 weeks to follow up on a prospect, then you will undoubtedly lose him to someone faster and smarter at selling. </li></ul></ul>9. THE LAW OF THE BULL’S EYE If you don’t aim for the best prospects, you’re likely to do business with any prospect.
  • 24. <ul><ul><li>Sometimes you won’t get an order for months, but if you keep in touch and add value each time, they may just select you as the vendor when their first choice screws up. </li></ul></ul><ul><li>Tips on high trust selling </li></ul><ul><ul><li>Use the name of another client to build trust and credibility </li></ul></ul><ul><ul><li>Send a letter in advance of a phone call </li></ul></ul><ul><ul><li>Letters must contain a unique value proposition to capture interest </li></ul></ul><ul><ul><li>Keep phone calls down to 90 seconds and ask for an appointment for a presentation </li></ul></ul><ul><ul><li>Send a thank-you letter and a testimonial from an existing client to prospects two days before meeting with them </li></ul></ul><ul><li>Five methods of getting prospect referrals: </li></ul><ul><ul><li>Never leave a successful appointment without seeking referrals </li></ul></ul><ul><ul><li>Track clients with repurchase cycles. Never leave the appointment without determining the next order and seeking referrals </li></ul></ul>9. THE LAW OF THE BULL’S EYE If you don’t aim for the best prospects, you’re likely to do business with any prospect.
  • 25. <ul><ul><li>Network to broaden sales and partnership opportunities </li></ul></ul><ul><ul><li>Join organizations and clubs </li></ul></ul><ul><ul><li>Prospects may have related businesses and may be able to refer you </li></ul></ul><ul><li>Writing the approach letter </li></ul><ul><ul><li>Grab attention in the first paragraph </li></ul></ul><ul><ul><li>Tell them who you are in the second paragraph </li></ul></ul><ul><ul><li>Let them know how you got their names in the third paragraph (use the name of the referral source) </li></ul></ul><ul><ul><li>Offer the unique value proposition, provide substantial evidence to set you apart from the competition, </li></ul></ul><ul><ul><li>Suggest the exclusivity of your offer in the fourth paragraph and seek the next action </li></ul></ul>9. THE LAW OF THE BULL’S EYE If you don’t aim for the best prospects, you’re likely to do business with any prospect.
  • 26. <ul><li>8 simple steps for setting an appointment: </li></ul><ul><ul><li>Call the prospect and professionally introduce yourself, making reference to your letter </li></ul></ul><ul><ul><li>Convey that your referrer asked you to call and introduce a possible solution to a need in his life or business </li></ul></ul><ul><ul><li>Ask the prospect if he has 90 seconds for you to explain </li></ul></ul><ul><ul><li>State the purpose of your call </li></ul></ul><ul><ul><li>Ask for a 30-minute meeting to explore possible opportunities for partnership </li></ul></ul><ul><ul><li>Ask for a convenient time to meet </li></ul></ul><ul><ul><li>Confirm the goals of the meeting </li></ul></ul><ul><ul><li>Thank the prospect and assure him it will be time well spent </li></ul></ul>9. THE LAW OF THE BULL’S EYE If you don’t aim for the best prospects, you’re likely to do business with any prospect.
  • 27. <ul><li>Your aim as a salesperson is not to satisfy the needs of everyone but to secure the loyalty and trust of a few good clients. </li></ul><ul><li>The “scale of sales” is made up of the monetary value on one side (future business) and financial obligations and negative experiences on the other side. </li></ul><ul><li>How do you balance the scale in your favor? Here are some steps you can achieve… </li></ul><ul><ul><li>Take an honest inventory. </li></ul></ul><ul><ul><ul><li>Do you really know your clients? </li></ul></ul></ul><ul><ul><ul><li>Do you spend more time building relationships or trying to please capricious customers? </li></ul></ul></ul><ul><ul><ul><li>When was the last time you did a thorough analysis and planning session? </li></ul></ul></ul><ul><ul><li>Measure your productivity over the next month on the sales scale. </li></ul></ul>10. THE LAW OF THE SCALE If you want more business, have fewer clients.
  • 28. <ul><ul><li>Determine the maximum number of clients you can invest in and still give each the time and energy they deserve. </li></ul></ul><ul><ul><li>Begin investing in your top clients today. </li></ul></ul><ul><ul><li>BE PATIENT. </li></ul></ul>10. THE LAW OF THE SCALE If you want more business, have fewer clients.
  • 29. <ul><li>Sales professionals would increase their sales dramatically if they did a better job of “dating” their prospects before saying, “I do” to a sales relationship. </li></ul><ul><li>If the essence of your relationship is wrong, you will spend 90 percent of your time on form. </li></ul><ul><li>Successful salespeople… </li></ul><ul><ul><li>Write down questions in advance of meeting their prospect </li></ul></ul><ul><ul><li>Have a protocol for how and when to ask these questions </li></ul></ul><ul><ul><li>Have a different process for determining the potential of a relationship than for securing and sustaining one </li></ul></ul><ul><ul><li>Have an ongoing questioning process to ensure client satisfaction and relationship growth </li></ul></ul>11. THE LAW OF COURTSHIP For a relationship to be right on the outside, it must first be right on the inside.
  • 30. <ul><ul><li>Ask questions for the purpose of customizing solutions </li></ul></ul><ul><ul><li>Ask questions for the purpose of meeting needs </li></ul></ul><ul><li>All the sales training in the world will not create lasting success if your prospects don’t trust you. </li></ul>11. THE LAW OF COURTSHIP For a relationship to be right on the outside, it must first be right on the inside.
  • 31. <ul><li>Just like a great film that keeps audiences glued to the screen, your presentation and selling process should have the important thing, get them hooked on you! </li></ul><ul><li>To have great audience impact, you need to show the product inspires you. </li></ul><ul><ul><li>Motivate your prospect to act, and be very professional. </li></ul></ul><ul><ul><li>You need to establish if they want a long-term relationship. </li></ul></ul><ul><ul><li>Be considerate of their opinions. </li></ul></ul><ul><ul><li>Your sincerity should shine through and if you are a trustworthy person, and if your product is reliable, then you should have no problem making a favorable impact. </li></ul></ul>12. THE LAW OF THE HOOK A captivated audience stays to the end.
  • 32. <ul><li>Just like our dating analogy, before getting into a marriage, you need to have a good long courtship, and once you get married, it’s really only the beginning. </li></ul><ul><ul><li>Adding value after a sale demonstrates the relationship is more important than revenue, and the person is more important than profits. </li></ul></ul><ul><ul><li>You must do more to keep a client than you did to get the client. </li></ul></ul><ul><ul><li>Develop a tier ranking for clients, from VIP to premier and standard. </li></ul></ul><ul><ul><li>Commit to a specific investment for each tier. </li></ul></ul><ul><ul><li>Decide your annual contact plan for each tier. </li></ul></ul><ul><ul><li>As in any relationship, the better in tune you are with your partner’s needs, the more easily you can meet that person’s needs. </li></ul></ul>13. THE LAW OF INCUBATION The most profitable relationships mature over time.
  • 33. <ul><ul><li>All sales happen as a result of trust </li></ul></ul><ul><ul><li>High trust is a result of genuine, consistent service. </li></ul></ul><ul><li>How much is the cost of bad service? </li></ul><ul><ul><li>Well, when you lose one customer, typically that unsatisfied customer will tell up to ten people about your bad service. </li></ul></ul><ul><ul><li>These people will go on and tell maybe a few more. </li></ul></ul><ul><ul><li>That’s losing more prospective business at more than ten times the cost of one customer. </li></ul></ul><ul><li>So what can you do to improve service standards? </li></ul><ul><ul><li>Set your own personal standards </li></ul></ul><ul><ul><li>Publish your core values and service standards </li></ul></ul><ul><ul><li>Take only the business you can handle </li></ul></ul><ul><ul><li>Survey your customers before, during, and after the sale </li></ul></ul><ul><ul><li>Under-promise and over-deliver. </li></ul></ul><ul><ul><li>Keep clients informed </li></ul></ul>14. THE LAW OF THE ENCORE The greater the performance, the louder the applause.
  • 34. <ul><ul><li>Master the art of client recovery. </li></ul></ul><ul><ul><ul><li>Apologize, tell them what you will do to correct the problem, and communicate. </li></ul></ul></ul><ul><ul><ul><li>Give incentives for them to give you another chance. </li></ul></ul></ul><ul><ul><li>Do whatever it takes. </li></ul></ul><ul><ul><ul><li>Nordstrom is famous for doing this. </li></ul></ul></ul><ul><ul><ul><li>Its employees have a budget to use at their discretion for taking care of customers. </li></ul></ul></ul><ul><ul><ul><li>If something has to be delivered on a Sunday, then Sunday it is. </li></ul></ul></ul><ul><ul><ul><li>Go the extra mile and you’ll have a client for life. </li></ul></ul></ul>14. THE LAW OF THE ENCORE The greater the performance, the louder the applause.
  • 35. BusinessSummaries.com is a business book Summaries service. Every week, it sends out to subscribers a 9- to 12-page summary of a best-selling business book chosen from among the hundreds of books printed out in the United States. For more information, please go to http://www.bizsum.com. ABOUT BUSINESSSUMMARIES

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