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    Banking - Inventory Collateral
    This segment will explain the essentials of how a bank evaluates the inventory that is offered as collateral for a business loan or an operating line of credit. As explained in the segment on equity, this is not supposed to be a text book course, but explains briefly what you will encounter in the real world of business finance.These comments are not for the retail business; they apply to wholesalers, importers and manufacturers.The amount of money the financial institution will be prepared to lend you will depend a great d
    ably. I talked about Customer and Clients, sometimes in the same sentence. I started to notice confusion on the faces of people on my team. Eventually we had a conversation where I learned that for others the words Client and Customer meant two different things. I learned that, in the minds of others, a Custome
    The Counter Offer: The Perils Of Accepting One
    Accepting a counter offer is one of the biggest mistakes that you can make during your career.To be clear, a counter offer is when you try to resign from your current employer after accepting another job elsewhere and your current employer tries to keep you by offering you (typically) more money, a better job, more benefits, more vacation, etc.In other words, they try to bribe you to stay.The question you need to ask yourself is if you were worth more money, deserved a better job, deserved more benefits or deserved m
    Different people call their Customers by different names. If they don’t have Customers, they have Clients, purchasers, licensees, users, patients, members, franchisees, or buyers. Each of these words carries meaning to those who say them. And those meanings say something about the health and long term success of the enterprise.

    What do I mean?

    Take a minute to do this right now. Write down the word or phrase that you use for your “Customer”. Then write down all of the connections or associations you make to that word. Write down everything that comes to your mind. After completing your list, take a look at the resulting list of words and phrases. This list speaks volumes about how you feel about and think about those people who give you money for your products and services. Would you be pleased and proud to have those people read your list?

    Replicate this exercise with others on your team or in your organization. Compare other people’s lists of words and phrases with your own. Then have a discussion about what you find. What do you learn from this exercise?

    My Experience

    While I didn’t do the exercise, I came to a conclusion earlier this year. In the past, I used a couple of different words interchangeably. I talked about Customer and Clients, sometimes in the same sentence. I started to notice confusion on the faces of people on my team. Eventually we had a conversation where I learned that for others the words Client and Customer meant two different things. I learned that, in the minds of others, a Customer

    Persuasion Tip in Dealing with Irate Clients
    Having an upset client is one of the most challenging situations a salesperson can face. How do you exactly temper the anger of a person who obviously is ranting because of something you, your product, or the company failed to make clear or perform?Because the realm of sales is not a walk in the park, there will be times when you will be screamed at, and even hurled obscenities by customers who are dissatisfied. Don't be alarmed. This is a normal situation. And being so, there are ways to rise above them so that you don't break down, too
    the enterprise.

    What do I mean?

    Take a minute to do this right now. Write down the word or phrase that you use for your “Customer”. Then write down all of the connections or associations you make to that word. Write down everything that comes to your mind. After completing your list, take a look at the resulting list of words and phrases. This list speaks volumes about how you feel about and think about those people who give you money for your products and services. Would you be pleased and proud to have those people read your list?

    Replicate this exercise with others on your team or in your organization. Compare other people’s lists of words and phrases with your own. Then have a discussion about what you find. What do you learn from this exercise?

    My Experience

    While I didn’t do the exercise, I came to a conclusion earlier this year. In the past, I used a couple of different words interchangeably. I talked about Customer and Clients, sometimes in the same sentence. I started to notice confusion on the faces of people on my team. Eventually we had a conversation where I learned that for others the words Client and Customer meant two different things. I learned that, in the minds of others, a Custome

    Job Applications - Preparing Your Presentation
    If you get to the second stage of the job application process and are invited for interview, you may well find that candidates are required to give a presentation - a prospect which terrifies many jobhunters! The presentation generally lasts for 5 or 10 minutes and usually applicants are warned before the interview, but sometimes it’s sprung upon them on arrival.Whichever scenario you encounter, you can make sure you are well prepared. If you know the subject of your presentation in advance, this is obviously a great deal easier, but als
    the resulting list of words and phrases. This list speaks volumes about how you feel about and think about those people who give you money for your products and services. Would you be pleased and proud to have those people read your list?

    Replicate this exercise with others on your team or in your organization. Compare other people’s lists of words and phrases with your own. Then have a discussion about what you find. What do you learn from this exercise?

    My Experience

    While I didn’t do the exercise, I came to a conclusion earlier this year. In the past, I used a couple of different words interchangeably. I talked about Customer and Clients, sometimes in the same sentence. I started to notice confusion on the faces of people on my team. Eventually we had a conversation where I learned that for others the words Client and Customer meant two different things. I learned that, in the minds of others, a Custome

    Managing Change - Understanding Why People Change
    When attempting to manage change in an organization you have to first understand that there is no such thing as organizational change – there is only people change. Organizations are simply groups of people working under a certain structure that enables them to accomplish the work at hand. It’s important that you get that as most people don’t.Now that we have that out of the way, let’s turn to the question of ‘why’ people change. Understanding the ‘why’ is the first step in the challenge of engaging people in the organization in the chan
    tion. Compare other people’s lists of words and phrases with your own. Then have a discussion about what you find. What do you learn from this exercise?

    My Experience

    While I didn’t do the exercise, I came to a conclusion earlier this year. In the past, I used a couple of different words interchangeably. I talked about Customer and Clients, sometimes in the same sentence. I started to notice confusion on the faces of people on my team. Eventually we had a conversation where I learned that for others the words Client and Customer meant two different things. I learned that, in the minds of others, a Custome

    Yellow Page Ads No-No's -- Part 2
    I’ll assume you have a Yellow Page ad and have been tracking the results. If you haven’t, then the next few sentences won’t mean much because I’m writing about the things that may be wrong with your ad. So, hopefully, you asked employees, friends, relatives and total strangers to rate your ad and tell you what they liked and didn’t like. So now you can read on. Let’s pretend the ad is basically fine, but not earth-shaking, The headline could use a little work (see Part 1 of this series) but the body is weak. Do you have a piece of artwork or ph
    ably. I talked about Customer and Clients, sometimes in the same sentence. I started to notice confusion on the faces of people on my team. Eventually we had a conversation where I learned that for others the words Client and Customer meant two different things. I learned that, in the minds of others, a Customer might buy a product one time, but a Client implied a long term relationship.

    While these meanings weren’t my meanings, I quickly applied them for myself. Why? Because I want every person or firm who buys from us to be a Client for life, not a one time purchaser – and just as importantly, I want everyone on my team to be thinking that way too.

    Just this week, I read a quote from Harris Ginsberg, IBM’s director of global executive and organizational capability who said, “A customer is transactional. A client is somebody with whom you have a longstanding relationship and a personal investment.”

    Apparently others agree with my team’s definitions.

    Your Conversation

    The names and labels matter, but not as much as the common definitions. If you are in a medical practice it is fine to use the word patients, as long as everyone on the team has a clear understanding of what that means and how important patients are within your practice.

    Once you’ve had a conversation in your organization about the language you use and definitions you share, as a leader you need to solidify and communicate the right definitions and meanings for your organization so that everyone is truly on the same page.

    Here are some specif

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