Current Oscar Lama Issues

Small Jobs Stimulate the Economy

By Debra Yergen

A bad economy can provide a great opportunity to put a few “principles” on hold. First Lady Michelle Obama made news — and made a lot of mothers proud — when she announced that her daughters would still be making their own beds in the White House. Children should learn to participate in household chores, and those who don’t often grow up to be terrible spouses who seldom pick up their own socks much less make the bed or vacuum.

All good parents know that children need incremental responsibilities. But in this economy, there are a lot of adults who would welcome some extra hours a week working a side gig to bring in extra cash to keep their own families fed, clothed and taken care of. At the same time, there are a lot of nonprofit organizations in need of volunteers — even the tiniest volunteers willing to sit and talk to a patient, fold towels or stuff envelopes.

What if every family with full-time employment, and $25 or more extra dollars available a week, were to hire a family in need of some extra cash to help with cleaning, yard work, organizing or errands for a couple of months while they found steady employment? Could small jobs like this really stimulate the economy? Well, yes, actually any job that keeps money in motion stimulates the economy. [Be sure to check IRS guidelines. The cutoff for hiring household help is $660 per year before the employer needs to pay employment taxes on the person providing help.] You don’t want to find yourself fined for trying to help someone in need.

If you’re reading this and you need to make some extra money, do you have friends or family who could use your time, help or expertise? With the job landscape changing, many people are returning to trades. Experienced workers 55+ are perfectly suited to offer apprenticeships to younger workers who are looking to develop skills to fall back on.

And of course there’s the matter of discretionary income. The economy has given a one-two punch to service industry workers who rely on tips for a significant portion of their income. Instead of going out to eat twice a week, what if you were to go out only once but double your tip? If your bill for two people is $30.50 and you usually add $4.50 twice a week, what if you only went once but tipped $10? You’d save tremendously and your server would feel very appreciated.

Indeed, there are small things everyone can do every week to make a big difference. If you’re in a position to give a little extra help, you’ll make a real difference to a family in need. If you find yourself needing some extra income, you might be surprised who would be willing to help out right in your inner circle. And the biggest surprise of all — everyone wins. Because small jobs really do stimulate the economy.

Oscar Lama About Jobs And Economy

Selling Skills For Today’s Economy!

By Bob Urichuck

In today’s economy sales professionals need to be equipped with the appropriate selling skills, following a proven selling system or sales process, in order to succeed and meet their sales targets.

They can no longer afford to carry on with traditional selling skills of doing dog and pony shows, feature and benefit dumps, or hit and run closes.

Today’s economy demands engaging selling skills, not telling selling skills. Engaging selling skills attract and engage prospects into personal and business conversations - Personal conversations to build rapport and trust; Business conversations to qualify opportunities to do business.

Engaging sales skills starts with a desire to create relationships. Keep in mind that people buy from people, people they like and they trust. Once trust is established, a relationship starts. That is the sales skill foundation to a sales transaction.

To build that rapport, or trust, requires conversational selling skills focused on the prospect, not on you, your company or your products. The selling skill required here is to show a genuine personal interest in the person in front of you. You do that by asking questions, questions that they would like to respond to and talk about.

So, what do people like to talk about?

People like to talk about themselves, their families, hobbies, job, etc. These are more personal conversations. The selling skills required here are asking questions, listening and using your body language to show interest.

Your job is to get them to open up and to keep talking. The more they talk, the more you listen, the more you learn and the more they like and trust you.

Mind you there are also other selling skill techniques to build rapport. One of the best rapport building sales skills comes from Nero Linguistic programming (NLP) where mirroring and matching body language, tonality and words enhances rapport building quickly and magically.

You will know when your rapport selling skill has been established, just by the way the prospect has opened up with you. When they get to the point where they can’t stop talking, you know you got the rapport selling skill that would allow you to move onto the next step in the selling system, or sales process.

With rapport, trust and relationship starting, you can then move from personal to business conversation, by simply interjecting another question - Bill, I really appreciate what you are sharing with me, but how much time have you set aside for our meeting?

With the answer to this sales skill question, a new sort of business conversation starts. Your time allocated is either confirmed or extended, either of which matter, as it is the next sales skill question that will make the difference.

“Bill, what is it that you would like to accomplish over the next X minutes?”

Most sales people only think of their objective, and not that of the customers. It is the customer’s objective that is most important, so let’s get it out of them first. Then we can add our’s into the scenario.

For example, they could reply with, “I would like to learn more about your company and it’s products or services.”

You can then reply with an inclusion of your objective. For example, “that’s great Bill, as I too would like to learn more about your company to determine if there is an opportunity for us to do business together or not. Is it ok if we ask each other questions?

Do you mind if I take some notes?

Getting permission to ask questions, and to take notes, is also an important selling skill. It shows interest, and makes the prospect feel important.

Today’s Oscar Lama Economy Skills

Five Steps For Sales Success in a Slow Economy

By Doug Dvorak

A slow economy is a difficult time for business and no salesperson welcomes it. As total business volume slumps, triggering apprehension of deeper recession and pessimism and uncertainty can prevail. However, it is an inevitable part of the economic cycle and businesses should learn to cope with it and salespeople should develop a strategy to survive and thrive. They should pursue only the best possible sales opportunities despite the hardships. Weak and inefficient salespeople are affected most in a slow economy and some even get wiped out, because all the negative news affects their attitude. Interestingly, many salespeople and businesses not only survive when the economy is slow, they also thrive. In addition to having quality products and services they follow some basic sales strategies to succeed in a difficult market which you too can follow:

1- Shift and Readjust Focus: The market composition changes when the economy is slow. Consumer demand and preferences change. Astuteness lies in studying and understanding the changes in the market and in consumer’s behavior. For example, a shoe manufacturer will notice that during a slump, consumers forego purchasing expensive designer shoes. But the sales of moderately priced shoes meant for the average consumer will purchase these brands unabated. The shoe manufacturer will be better off shifting focus to low end and moderately priced shoes rather than concentrating on high end - designer shoes. Similarly, financial and investment companies will find that the shares of certain industries still remain high despite an economic slow down. Industries related to food and other products that are basic to the needs of people will remain upbeat in a slump. Campbell’s Soup’s stock price has not depreciated significantly during this recession. The gaming industry has actually experienced growth during the current ongoing recession. Some computing companies haven’t yet been introduced to the current recession. IBM for example, has registered growth for the second successive quarter. Investors can shift their focus to these industries. Even some companies that have experienced a decline in the value of their stocks will be worth investing in if they show enough promise of bouncing back soon.

2- More Thrust on Sales: When the economy is running smoothly or booming many salespeople become mere order takers and are not delivering value to their clients. There is hardly any skill required to push sales as the brand name of the product and huge consumer demand automatically result in sales. But when the economy slows down, consumer demand dips for a large range of products. That’s when sharp sales skills should be used to keep sales figure up. The smart ones succeed in selling reasonably well despite the hard times. Organizations should reassess their sales strategies as well as the efficiency of their sales teams. There may be a need for weeding out non-performers from the sales team and rewarding the performers. Companies should have a well defined and effective sales process in place. All salespeople should adhere to the sales process and apply every ethical sales method that is known to them to get a sale. The possibility of online sales should be fully explored, as Forrester Research points out, that online consumers will spend $3000-4000 per year and their desire to spend is unlikely to be affected by recession.

3- Emphasis on Customer Service: In good economic times you may get away with poor customer service. But during tough economic times a single slighted customer could prove to be very costly. Customers expect prompt service and due attention, especially when they have come forward and chosen to buy your product. Organizations should remember that the transaction doesn’t end when they deliver the product and receive payments. It is just the beginning of a process that may require further rendering of service to the customer. A happy customer invariably becomes a repeat customer. A company can save money and effort by concentrating more on existing customers through impeccable customer service.

4- Slashing Prices: One of the weapons of fighting a recession is slashing prices of products and services as much as possible to stay competitive attract new buyers and gain market share, while still making profits. Microsoft has slashed its prices of the Xbox consoles to stay ahead in the booming gaming market. To compete with Nintendo and Sony and capture a sizeable chunk of the gaming market during the holiday season, the decision to cut prices seemed very logical for Microsoft.

Sales and Oscar Lama 5 Steps

Current Issues with the Global Economy

By: dane

Though the housing bubble deflated about two years ago, its true effects are only now beginning to emerge. In late 2006, when the economy first began to show signs of weakness in the housing market, most economists predicted that a recession was very unlikely, and that any downturn in real estate prices would be localized and mild. In reality, a global downturn is now a real threat, with the final price of the credit crunch projected to exceed $1 trillion dollars.

Not only have falling house prices in the US spread to other markets abroad, they have contributed to massive losses in other areas of lending such as credit cards, and the financial industry, which is now reeling from the US government bailout of Bear Stearns. What does this mean for emerging economies like China and India? In the short term, volatility seems to be the order of the day, with India’s fledgling exchanges rocked by jittery investors. Until financial centers and investors can regain confidence, market conditions will be exaggerated. Early trading also plays a psychological role for investors, as news developments impact Asia before Wall Street opens.

The US and the UK both face difficult home pricing corrections which will continue to hamper growth. Most homeowners expect, if not to make a profit, not to sell their houses at a loss, which is a difficult pill to swallow. And if they can’t sell their homes for what they think they’re worth, then waiting it out contributes to prices falling, thus exacerbating the problem.

While government intervention has been exceptionally forthcoming in efforts to preserve confidence in financial markets, less attention has been given to homeowners who are being foreclosed on over the next year, which is only so low because of robust growth in Asia.

Another prospect which looms over every government is the specter of inflation, which threatens to overtake the slumping economy as the number one priority for the Federal Reserve and other central banks, who have had to take extreme action to prevent further liquidity losses. The Fed has sold off over $100 billion in auctions and lowered interest rates five times in an attempt to lower mortgage interest rates, but confidence will remain shaky until the full extent of investment bank’s sub-prime exposure is realized.

Current Oscar Lama  Issues