These tried and true principles are timeless and timely for our continued success as business owners and marketers.

Mistake #1: Focusing on you not them

Instead of finding your prospect’s need and objective it’s a mistake to focus on you. Anything that does not focus solely on your prospect is institutional advertising.  You must focus on your prospects ego and their desires.  Show them what’s in it for them.

Mistake #2: Managing rather than leading by example

If you are leading a sales team and spend all of your time only managing your existing people and not acquiring new customers and business associates your business will grow stagnant.  Even more critical is this,  your organization will follow your example.  If you’re not producing results, nor will they.

Mistake #3: Treating your business like a job rather than a long-term business asset

The term “delayed gratification” is difficult for most to understand in the age of drive through fast food, photos, and coffee.  We want it now!  Robert Kiyosaki says, “profits are better than wages.”  That pretty much sums up how to approach your business.  Treat your business like an asset.  Invest your time and money and your business will continue to give you financial returns and profits year after year.

Mistake #4: Neglecting your main objective of building long term business relationships.

Building your business takes time, money, more time and more money to develop. As does any profitable business. However, in the day of emails, fax machines, web sites, online video, and super technology, it is easier than ever to forget you are working with real live people with real live problems and worries. In the high tech world, make sure you continue to develop personal relationships and a personal touch.

Mistake #5: Exaggeration, not being realistic.

Technology makes it easier for you to contact more and more people at an ever growing rate, which leads some people to hype their claims.  Be realistic, accurate and honest about your product or business opportunity.

Mistake #6: Losing focus

Th grass is not always greener in the other pasture.  It Reminds me of a story, Acres of diamonds.  Some people go out looking for fortunes that might already be be right under their feet.  Find a product or service that you love and stay focused on building your business.

Mistake #7: Ineffective prospecting: Not making enough contacts.

Many find themselves pinning their hopes and a few people that look like great prospects or customers and allowing days and weeks to pass without making new contacts.  Keep a lot of sales material circulating at all times.  You will gain a psychological edge if you make a lot of contacts at the same time.

Ask for referrals: It’s not about who you know, it’s about who they know. Everyone has a sphere of influence. My last post included a story from “Think and Grow Rich” where a RU Darby fails to hit the mother load.  He stopped too soon after a ground fault had shifted the vein of Gold only three feet. Don’t stop too soon, you may be within three feet of hitting the mother load.

Mistake #8: Not knowing how to qualify a prospect as a consumer or a business builder; overselling.

If you have to sell someone,  twist their arm, or wrestle them to the floor in order to get an order or peak their interest their probably not the right person.   Don’t talk people into it. Build your business through a mutual agreement. They should not feel taken advantage of, nor should they think that they are doing you a benevolent favor.  Ask them what they want and meet their need.

Mistake #9: Not following-up with your prospects!

We have all heard it, the fortune is in the follow-up. Building your business is like developing a friendship. It’s kind of a courtship process that involves a series of contacts.  You don’t just slam the ring on the finger after the first date do you?  Making the initial contact is easy, but the follow-up is where it all breaks down if not handled in a timely fashion.

Follow-up starts right away after the initial contact.  Always schedule another meeting for your prospect to follow-up and answer questions.  Don’t leave it to chance.

Mistake #10: Refusing to Invest in Personal Development

Become a student of you product, your industry and most important become a student of life changing education and self development.  My success mentors include: Brian Tracy, the late Jim Rohn, Zig Ziglar,  Anthony Robbins, John Maxwell and literally hundreds of books, trainings and articles I’ve read over the last 30 years.   You and I can make or break our success in our business.  We’re ultimately responsible!