Business-to-business | The Barefoot Spirit

Russian Students Visit the Russian River!

Michael Houlihan & Bonnie Harvey — Thu, 25 Apr 2019 17:00:58 +0000

We recently had the honor of hosting 40 graduate entrepreneurship students from Skolkovo Moscow School of Management. They were here to tour Silicon Valley and gain knowledge from the shrines of American Entrepreneurship. At the end of their tech tour, we invited them up to the Russian River wine country. Here they enjoyed some time in nature, a few talks on entrepreneurship, an outdoor luncheon, a history lesson about grapes and wine in Sonoma County, and yes, a wine tasting.

Skolkovo is one of the top universities in the world and is associated with MIT. The students were in their 30s and many already had their own businesses. Others were either considering the prospects or just wanted a better understanding.

Introducing the Russian Students to Soft Skills

We knew they had seen a lot and heard a lot about hard tech in the Valley. Between the VCs and the auspicious examples of technical success, we figured they might appreciate a more natural environment and a talk on something entirely different, so we presented them with our course on “How Soft Skills Earn Hard Cash.”

We decided to take them through the three basic soft skills (Appreciation, Acknowledgement, and Communication), and how they apply to the three basic business relationships (Employees, Vendors, and Buyers).

Although soft skills are not the only thing you need to be a success, their absence can result in expensive and crippling turnover, higher costs, loss of credit, and loss of customers. In other words, there has to be a balance between tech skills and soft skills.

We were impressed with the students and their sincere interest in achieving business success. We started with what we had in common: a desire to have loyal and engaged employees, a need for extended credit and terms, and a need for ongoing and increasing business.

Even with the obvious cultural differences between our societies, business is business and people are people. How folks are treated makes a big difference in their discretionary decisions regarding your company’s products and services. And probably the most important consideration you can give others as a business person is respect for their concerns.

If they are employed by you, do you have their interests at heart?

Do you demonstrate it? For instance, can employees enhance their careers with your company? Do they get the compensation, recognition, education, security, and the time with their family they need to remain loyal?

If they are your vendor, do you treat their salespeople with respect?

Do you call in advance of a late payment with a plan to bring your account current? Do you consider a long-term contract so they can feel confident extending the terms and credit you need to grow your business?

If they are your buyer, do you service what you sell?

Do you honor your warranties? Do you provide the kind of support they need to stay with you, increase their purchases, and promote your products? Do you understand and address every level of buyer from your warehouse to your ultimate consumer so your products will move freely through the channels?

All of this really comes down to putting yourself in the other guy’s shoes. Know what they want, and get what you want by giving them what they want first. In other words, as our friend Ivan Misner likes to say, “Take off the bib and put on the apron!” Or, as we like to say, “If you are going to be a jerk, get out your wallet! It’s going to cost you more.”

These lessons are international and timeless. Anyone with a great idea that can change the world will have a much easier time doing so by practicing these soft skills. They can make the critical difference between success and failure.

When we first got into business, we thought that our product was so good, that it would sell itself (Gold Medal winners under $6). We couldn’t understand why the world wasn’t knocking out windows and kicking down doors to get to us. It cost us plenty of time, money, and anguish to finally learn and master these essential skills, which, ultimately, resulted in our major success.

We were thrilled to be able to share the practical benefits of soft skills in business with the impressive students of Skolkovo. We wish them the best in their own businesses and hope they will return for another visit to their “Outdoor Classroom in the Wine Country!” Надеюсь увидеть тебя снова в ближайшее время!

Who We Are

Michael Houlihan and Bonnie Harvey co-authored the New York Times bestselling business book, The Barefoot Spirit: How Hardship, Hustle, and Heart Built America’s #1 Wine Brand. The book has been selected as recommended reading in the CEO Library for CEO Forum, the C-Suite Book Club, and numerous university classes on business and entrepreneurship. It chronicles their humble beginnings from the laundry room of a rented Sonoma County farmhouse to the board room of E&J Gallo, who ultimately acquired their brand and engaged them as brand consultants. Barefoot is now the world’s largest wine brand.

Beginning with virtually no money and no wine industry experience, they employed innovative ideas to overcome obstacles, create new markets and forge strategic alliances. They pioneered Worthy Cause Marketing and performance-based compensation. They built an internationally bestselling brand and received their industry’s “Hot Brand” award for several consecutive years.

They offer their Guiding Principles for Success (GPS) to help entrepreneurs become successful. Their book, The Entrepreneurial Culture: 23 Ways To Engage and Empower Your People, helps corporations maximize the value of their human resources.

Currently they travel the world leading workshops, trainings, & keynoting at business schools, corporations, conferences. They are regular media guests and contributors to international publications and professional journals. They are C-Suite Network Advisors & Contributing Editors. Visit their popular brand building site at www.consumerbrandbuilders.com.

To make inquiries for keynote speaking, trainings or consulting, please contact sales@thebarefootspirit.com.

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World’s Best Sale Pitch: “My Product will help you Increase Sales”

Michael Houlihan & Bonnie Harvey — Sat, 28 Jul 2012 21:50:23 +0000

We’ve spent over two decades in sales, and it’s true – nothing happens until the sale is made. We have a friend who described her sales job as “conveying the value proposition of (her) product to (her) buyers.”

There are many books written on the subject of sales, sale techniques, and best closing strategies. We’ve often said the best sales person is the “Assistant Buyer”. The key to sales success is simply to sincerely have the buyer’s best interest at heart.

When you produce a product that goes through distribution channels, or when you offer a service business to business, the funds your buyer has to buy from you came from the sale of their product or service. If you are selling direct to the consumer, you still have to recognize that they have to work for the income, one way or another, that enables them to buy your product.

Everybody who sells products or services wants to sell more. The ultimate question from your prospect is: “How does your product or service help me sell my product or service?” or “How can you help me make more money?” That’s why positioning your sales pitch as enhancing theirs is so effective.

Here are some ways your product or service can help your customer’s bottom line:

1. Reduce his overhead cost per unit sold. He has to pay rent, lights, power, insurance, staff, cleaning, etc., whether he sells your product quickly or slowly. If it’s a fast seller, his cost per sale is reduced. He improves his ROI on his capital investment, maintenance, advertising, and staffing.

2. Increase his profits with lower acquisition costs and, consequently, higher profit margins on your product. Give him a volume purchase program that enables a lower retail price and increased volume resulting in higher profits per month.

3. Make his retail environment more attractive with seasonal point of sale materials and promotional programs geared to the theme of the given holiday. Make your displays festive decorations to his retail space.

4. Increase his business with local promotions and support for neighborhood causes. Use Worthy Cause Marketing to bring in customers who have a social reason to buy your product. Let the membership of the non-profit you support know where your product is for sale in his neighborhood.

5. Sell him a product or service that makes him more attractive and more competitive to his clients or retail customers. Give him the best price in your category, or an area-wide exclusive for an introductory period.

6. Add value to his total sales package. Is there something you can sell him that makes what he’s selling more valuable, adds an extra feature or delivers another benefit – like a guarantee, excellent customer service or loyalty program? Does your product give him “green” bragging rights?

7. Improve his personnel’s efficiency by providing training, benefits or tools his staff can use to increase his sales. Help him find and keep good people.

These are just a few examples of how you can help your buyer increase profits and do his job more efficiently. When you focus on what your buyer is trying to do, you can quickly get a clue as to what you can do to help him increase his sales. Adding value to his sales efforts with your product allows him to say to his customers, “But wait, there’s more!”

Who We Are

To make inquiries for keynote speaking, trainings or consulting, please contact sales@thebarefootspirit.com.

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B2B or Not to Be? That is the Question!

Michael Houlihan & Bonnie Harvey — Tue, 24 Apr 2012 20:13:01 +0000

We often hear, “Oh, we’re B2B (business-to-business), so we don’t have to worry about customers at the general public level.” The fact is, you do.

It is an erroneous assumption that B2B is somehow insulated from the source of most income, the general public. If your client goes out of business, your B2B loses that account, and you lose an income source. Of course you need to worry!

The more your company understands and assists your clients to sustain and grow their customer base, the better your chances of keeping that revenue. Don’t be the last one to find out your client is in trouble. Be proactive and help them stay healthy so you too will benefit from their success.

Here are some ways your B2B can help your client or customer:

1. Take an interest in how they make their income, including its source. Is it another business that sells to another business that eventually sells to the public? How many layers exist before reaching the end-user? Do they sell direct to the public?

2. Take an interest in their industry, including the trends that are on the rise or decline. Are your customers experiencing rapid growth, or having difficulty maintaining their market or price points? The answers to these questions can give you a big hint about how you can possibly help them.

3. Show them how to buy your products or services to best match their current needs. When they are in a growth cycle, provide them with discounted quantity purchases. When they are struggling, provide them with longer terms. By being sensitive to their needs beyond your product or service, you help them and your company succeed.

4. Provide them with information and objective feedback. Show them that you care and act like an engaged team member. Your input will be respected since they know you have an interest in their success. You may have some insight that only an outsider could have, or you may see something in the market that they may have missed.

5. Keep your eyes peeled for talent. You may have more contacts than they do, thus, you may be aware of hiring opportunities they may not know about. Find out what they are looking for and pass the word. Strong companies and strong clients are made up of strong people. It’s their most valuable resource.

6. Call for a meeting in person, if possible. Ask about their business challenges, growth, and customers. Let them know you care about their business and are interested in helping them succeed. A face-to-face will reveal lots of information that an email or phone call can never achieve. And it helps build an invaluable personal relationship.

When you think about it, there are many ways you can help your client remain viable beyond what you are selling. You will win their loyalty and increase their purchase orders by being a real team player.

No business is truly isolated and insulated from their client’s customers. As these last few years have painfully demonstrated, we are all interdependent. The more you know about your customers, the more you can help and the more your B2B will continue to be.

Who We Are

To make inquiries for keynote speaking, trainings or consulting, please contact sales@thebarefootspirit.com.

The post B2B or Not to Be? That is the Question! appeared first on The Barefoot Spirit.