wilson96   Economy, Politics, and More…

Most of the news surrounding the nation’s economy has been shrouded in gloom and doom tones as companies announce massive layoffs and the stock market keeps dropping. Businesses are having trouble staying open and it looks like unemployment is at an all time high everywhere. Still the news out of Maine isn’t all bad. In fact there is one place that seems to be thriving in spite of all of the economic woe.

Northern Maine Community College report that the student population has only increased as the economy has gone down the tubes. Officials told the Bangor Daily News that the student population this year is thirteen percent higher than the size of the student population last year. Spring Semester admissions rose more than fourteen percent than the admissions last year.

This is exciting news to Tim Crowley and the other administrators over Northern Maine Community College. Crowley told the Bangor Daily News that a lot of the new students are adults who have lost their jobs in manufacturing and mills who want to learn new skills and trades. These misplaced workers are not getting discouraged. They are using their newly found “free time” to start over—something that national news does not report often.

Another factor in the rise in admissions is the new Wind Power Technology program being offered at Northern Maine Community College. This is the first wind power tech program in all of New England and its focus is to train people to be technicians for wind power machines. So far the Maine school has received more than thirty admission applications for the program and at least forty two students have signed up for the introductory class.

More and more individuals are asking the Northern Maine Community College to extend its non-credit programs as well.

Maine residents are letting themselves get bogged down in difficulty. Instead of complaining and simply cashing an unemployment check once a week, these adults are using their time and money to educate themselves and make themselves more marketable to a twenty first century market. It is inspiring to see so many people who thought they were simply “one trick ponies” turn over new leaves and go in new directions. The students themselves are proud and are excited to be in school and learning new things.

This is the kind of story that the rest of the nation needs to see: people taking a hard situation and turning it around and making something positive happen. Stories of woe and anguish pervade the news. The rest of the country could stand to take a lesson from Maine and instead of whining and complaining about losing a job, standing up and saying “okay, what’s next?” and learning something new.

The residents of Maine are hardy folks—they have to be to deal with the cold winters—and they are proving themselves to be optimistic and innovative as well. If only everyone could be as inspiring as the residents of Maine!

For more information on a college education, visit http://www.collegemicroblog.com and http://www.mainemicroblog.com.

Discounting on price is not a sales strategy. It’s an impulsive move made by desperate salespeople. In a tough economy, customers think and expect everything is going to be discounted. Because of this, salespeople feel it necessary to oblige the customer to close the deal. Unfortunately, however, this leads to a downward spiral, much like an addiction to an illegal drug. Once a discount is offered to one customer, it becomes easier and easier to offer it to another one. Before they know it, the discount is being offered to everyone. Like a drug, the “fix” is in the additional sales the salesperson is able to gain. However, just like with the addictive drug, there is a “withdrawal.” Sales come at a reduced or a very reduced margin. To make matters worse, the discount ends up altering the attitude of the customer who now believes the real value of the product or service they bought is the reduced price and not the full one. Overcoming this mislabeled sales strategy of offering a discount can only be done when the salesperson is willing to change their way of thinking, despite how difficult it may be. The first step necessary to correcting the salesperson’s mindset is to help them believe in their ability to close the sale. Competent salespeople know why the customer is looking to buy and are able to capitalize on the needs the customer has disclosed. When sales professionals begin to feel the need to discount, it’s usually because they don’t believe they’ve established a solid reason why the customer should buy from them. They have failed to ask the right questions to get the customer talking and then avoided the critical skill of following up. When a salesperson has spent all of their time touting product features and not uncovering the benefits to the customer, their presentation may not include what the customer actually needs. Only when the salesperson has taken the time to probe deeper will they truly understand why the customer wants to buy. They need to ask the right questions and then listen to the responses. Then they will be able to capitalize on the information provided them. The second step necessary to avoid the need to discount is to keep the message on the immediate return-on-investment the customer will receive when making the purchase. Keep in mind that businesses don’t buy anything, they only invest in things. Every purchase made by a business is seen as an investment in helping them achieve their own goals. For this reason, the message must focus on the immediate gain that will result from their decision to buy. This emphasis is best brought out when the salesperson ties their questions into exploring how and what the customer expects to achieve immediately, as well as how they’ve measured results in other purchases they’ve made. The third step is found in knowing how to respond when the customer asks for a discount or states that the price is too high. Salespeople need to be ready for these objections and not be concerned or disarmed by them. The first time the customer brings up this issue, the salesperson should not even acknowledge what was said. Often, customers feel an obligation to inquire, and once asked, they’ve done what they were “supposed” to do. The salesperson should only respond to the customer when they have brought the issue up for the second time, and the way they handle it is critical. They need to ask a question that is pointed directly at the most significant need the customer has. This will serve to shift the customer’s thinking back to why they’re looking to buy to begin with. After they respond, the salesperson should continue the dialogue with a series of follow-up questions designed to uncover even greater needs. The more the customer is focused on their need, the less they will be focused on a lower price.Finally, salespeople must keep in mind that there will be times when they must be willing to walk away from an order. Although this can be scary and risky during these tough times, it’s essential for them to believe they don’t need every sale. Not only does walking away help them realize that there are other opportunities out there, it also serves to strengthen their resolve to hold their line and maintain the value of what they are selling.Holding on price in a down economy is not easy, but it is doable, and, in fact, it is essential! When sales professionals believe in their product or service with complete conviction, focus on the immediate ROI, and ask the questions necessary to uncover the customer’s greatest need, resorting to the mislabeled sales strategy of offering a discount will be unnecessary. Maintaining your pricing integrity in a down economy is truly a winning strategy because, in the end, profit margins are higher, the ability to service a customer is better, and the confidence of the salesperson is greater. Especially in today’s marketplace, that’s worth pursuing.

6/4/10 2:05pm – Jobs numbers lies – Economy worse – Dow Down – Gold up!

May 5, 2009 Bernanke testifying @ Congress Paul (R-TX)

Improving national economy brings down unemployment figures
PETALING JAYA: The improving national economy has resulted in a lower unemployment rate with firms not resorting to retrenchments, according to the Malaysian Employers Federation (MEF).

Read more on The Star

Sales prospecting in down economies is no different than sales prospecting in up economies. It is still a behaviour, a discipline – doing what we have to do, even when we do not want to do it.
The only difference is that you may have to invest more time in sales prospecting in a down economy.
Sales prospecting can be time consuming in itself, but in a down economy, it is even more time consuming as sales prospects seem to be harder to find.
Therefore, more time invested in sales prospecting is required. If you did ten daily sales prospecting calls before, you may now have to do twenty to get the same results.
However, besides investing time, there is a better way to get the same or better results when it comes to sales prospecting. But first, you have to do your homework.
You need to know what our sales prospects should look like – you need to profile them so that you can take a targeted sales prospecting approach and not a shot gun approach.
It is the shot gun approach that is time consuming and does not get you the sales prospecting results you are looking for.
In a targeted sales strategy you need to define the criteria for three customer levels – A, B, and C.
The 80/20 rule states that 80% of your sales results come from 20% of your customers.
That 20% would be considered as your best customers. They are “A” or absolute customers, because they provide you with 80% of your revenues and without them, you would be out of business.
Answer this question: What criteria best describes you’re A customers? Is it profitability, loyalty, margin, volume, brand, relationship, etc.? Note your answers.
Then you need to proceed with the same question for the next level of sales prospecting – “B” beneficial customers. So, what is the sales criteria for your “B” level of customers ? How are they distinguished from A customers? Note your answers.
You can then proceed with what is the sales criteria for your next level of customers – “C” – convenient customers? How are they distinguished from B customers? Note your answers.
You may find that most of your prospecting activities are probably to “C” or convenient customers, as most sales people invest 80% of their sales prospecting time where they get 20% of the revenues.
So, let’s do the opposite and focus our sales prospecting activities on the A customers.
Once your sales criteria is defined for each level of customer, go to your sales data base and using the sales criteria identify your existing customers as A, B or C.
Separate the A customers and create their profile based on the information on hand. You will find that there is something different about them, compared to the B’s and C’s.
What is that difference? Now map that profile over to the market place for sales prospecting. Who are the A sales prospects out there that are not presently doing business with you?
Do the same with the B customers and identified the sales prospects for you B category in the marketplace. Also, look at your existing B customers who have potential to be come A’s.
Sales prospecting can be fun and most rewarding for sales results when you invest the time and plan your sales prospecting approach.

The economic crisis is all over the news. With the dramatic drop of over 50% in the stock market in the last year, many people struggling with the foreclosure of their homes, and the unemployment rate soaring in just a blink of an eye, the financial stress experienced by many people is contributing to a rise in mental health problems.
According to a survey conducted by the American Psychological Association, 83 percent of American women and 78 percent of American men are experiencing heightened stress related to money. With that said, it is true to say that money is often on the minds of many of us. Who would feel secure with all the negativity related to the economic meltdown? Many become fearful as they cope and try to recover from this worldwide financial crunch.
But, financial strain can be managed. There are many coping mechanisms available for managing this kind of stress. What is important is to maintain good habits to maintain mental health. Once in a while, pause for a moment and evaluate your situation. Focus on yourself and your own well-being because money is not everything in this world. What we should keep in mind is not to panic as economic turmoil happens around us. But, it is a reality that all of us must undauntedly face, or else, if one allows fear and anxiety to rule, it can affect your overall emotional well-being.
Dealing with financial stress can be a difficult undertaking, as many people already know. Most married couples nowadays seeking marriage counseling find out that money matters can be a major source of conflict. Financial management works differently for every family that is why constant and good communication plays an important role to reduce relationship friction.Here are 7 steps for everyone to feel better in a down economy:

EDEN PRAIRIE, MN – (November 4, 2008) With inflation rising and consumer spending continuing to drop, can it really be a good time to buy a franchise?

“Yes,” said FranChoice President Lori Kiser-Block. “While the headlines concentrate on what isn’t working in our economy, there are still plenty of businesses that are thriving. If you know what to look for in a franchise business, you can actually take advantage of some aspects of the current economic environment to lower your start-up costs.

“For example,” said Kiser-Block, “current low interest rates can mean that borrowing money for your purchase will cost you less. A higher unemployment rate means you will have more good employees to choose from to help you run your business. You may also find that you can now buy or rent business property at a better price than you could have in the past.”

The key to finding a viable business in this economy, suggests Kiser-Block, is to choose a business that fulfills a need for consumers that cannot be put off until better times.

“Think about what you can and cannot live without,” said Kiser-Block, “and you’ll have an idea of business that can do well even in a slow economy.”

One example of a franchise business that has continued to prosper includes disaster restoration companies that help a homeowner after a fire, flood, or even a hurricane. When your home is filled with water, you need to take care of it immediately.

“Service businesses tend to be more recession-resistant,” says Kiser-Block, “as they provide something you either can’t or don’t want to do for yourself. Whether it is tax preparation, senior care, child care, or home maintenance, these are services people need.”

Kiser-Block offers these suggestions for starting a business in a shaky economic environment:

·          Pick a recession resistant business, such as one providing a needed service to the community.

·          Look for businesses with low start-up costs. The less you pay to begin the greater your chances of reaching profitability.

·          Don’t discount service businesses because they aren’t “sexy.” They are among the best values among franchises because of their lower entry cost, high demand and good margins.

·          Look for a franchisor that has a very strong executive management team with experience, wisdom and strategic vision in their specific industry.

·          Search for an established franchise with a number of happy franchisees. The more you can learn about the business from those working in it, the better decision you will make. Choosing an established franchise may also lower the risk of your investment.

·          Current franchisees will be your most accurate source of information about a franchise opportunity. Ask how they are doing in the current economy.

·          Financing a new business can be more difficult during a recession. Use the resources available from a business funding specialist (Guidant and FranFund are two examples) if needed, that can help you find the best method of borrowing money for your circumstances.

“If business ownership is something you’ve dreamed about,” said Kiser-Block, “you don’t need to wait for the economy to turn around. Definitely pay attention to trends in business (such as senior care and business that help the environment) but steer clear of franchise fads. If you choose carefully and wisely, your new business could bring you success even in this economic climate.”

About FranChoice

FranChoice is a national network of consultants dedicated to helping consumers find their ideal match in a franchise business. Since 2000, FranChoice consultants have helped over 40,000 people identify and investigate the perfect franchise for them through their free service. For more information, go to www.franchoice.com.

By Dr. Richard Bayer

It’s no big secret: The economy stinks, the stock market is struggling, and businesses everywhere are taking drastic cost-cutting measures just to keep their doors open. And if you are one of the “costs” that have recently been cut—or if you just see the handwriting on the wall—you’re feeling America’s financial crisis in a very painful and personal way. It’s tempting to crawl under the covers and hide out until the crisis is over, but you simply don’t have that luxury. You’d better get busy preparing and executing your own layoff recovery plan.

            No one enjoys looking for a job, even in the best of times—which these clearly aren’t. It’s a process fraught with stress, rejection, and a lot of tedious leg work. But with a smart strategy for handling your finances, managing your time, and executing your search, you can turn what could be a full-on disaster into merely a bump in the road.       Approach the time immediately after you’ve been laid off with the same sense of purpose you felt with your job. Resist the urge to think of unemployment as the end of the world, no matter how upsetting it may be. Think of it, instead, as an opportunity to improve yourself and to make a fresh start. You can end up better off than you were before you got the ax.

The fundamental rules for surviving your job loss are simpler than you think. Read on for some tips to help you survive—and thrive—after the proverbial pink slip has been laid on your desk:

Negotiate the best possible severance package. (Hint: Don’t automatically go for the cash!) There are two keys to getting the best possible severance package. First, whether it’s the cash settlement or career coaching benefits, negotiate each item individually. This will give you more leverage. Second, decide what you want out of a severance package, without regard for the company’s policy. Many employees simply don’t know what they can ask for in their severance talks, but it pays to research this issue and give it some careful thought.

When you approach the severance issue, think of what will truly benefit you in the long term. Health insurance, for example, costs the company less than it would cost you. You can also ask for one year of career coaching and the right to select the coaching service. People often underestimate how much time it will take them to find a new job, so they accept cash for the entire settlement. The reality is the time in between jobs can be far less worrisome when your health insurance is covered and you have career coaching to help you stay positive and find a great new job. Cash may ease the pain in the short term, but it’s these other benefits that will set you up the best if you are searching for a job for a long period of time.

Don’t take it personally. Lay offs are usually the result of budget cuts and lack of business—and not a direct result of poor performance. Remember that lots of good people get downsized, and in today’s economy it’s happening more than ever. If you are the company’s most recent hire, or if your department is being cut out all together, your position can be in jeopardy regardless of how well you’ve done your job. But perhaps the most important thing to remember is that you’re being laid off because your employer is having trouble in a tough economy—which doesn’t mean that you can’t still be a valuable employee to someone else.

Seventy-eight percent of the unemployed people who belong to The Five O’Clock Club get a job whose salary is equal to or more than their previous pay. And while it’s not always possible to achieve that in our current tight economy, there are still plenty of companies that are in desperate need of quality employees. We stress this fact at The Five O’Clock Club. Remember that there is something else out there for you, and chances are, it’s a great opportunity that will improve your future.

Live as though finding a new job is your job. If you are used to showing up at the office from nine to five every day, it can be daunting to suddenly have hours of unscheduled time on your hands. You need to find a way to maintain the structure in your life and to keep some sort of day-to-day routine. A great way to do this is by using your old work hours to focus on your job search. Use that time to join trade organizations, schedule interviews, and network as much as possible.

At The Five O’Clock Club, we recommend that an unemployed person spend at least 40 hours a week on his or her search. If you do this, you’ll find that you have less time to lament your recent lay off and less time to sink into the negative thought patterns that are associated with it. Once your search pays off, you’ll be glad you quickly hunkered down and devoted so much time to finding a new job that’s right for you.

Manage your money responsibly. Whether you receive severance pay or not, the way you manage your money immediately after being laid off will determine your worry level during the foreseeable future. If a cash settlement is part of your severance package, you might be tempted to maintain your current living status while you search for a new job. However, that money can disappear quickly, especially if you are left to pay for your own benefits. Most people assume that they will find a new job within 30 days of their job loss and are surprised that it can actually take much longer. Create a budget so that you can see how long you can live off of your severance pay. To make your severance money last as long as possible, cut back on any unnecessary living expenses for the time being and get started on your search sooner rather than later.

If you didn’t receive any severance money, you’ll also want to create a post-job budget as soon as possible. Take a look at how much money you have, which bills are coming due, and what expenses you won’t be able to cut. Make sure you can pay your critical bills—mortgage, car payment, insurance—and don’t spend money on anything extra. You may have to cancel an upcoming vacation or get rid of your cable TV, but you will be glad in six month’s time that you didn’t rack up credit card debt and that your savings is still intact.

Expand your search. Just because you worked for a large corporation in a large city doesn’t mean that’s the only type of job you are qualified to do. If you are searching only in Los Angeles, for example, think of looking outside the city or even in a different state. Or if you are looking only at large public corporations, consider small or private companies.

Your personal talents can lend themselves to a variety of different job titles. You just have to be open to them. Searching for a job outside your comfort zone can sometimes open you up to some great unexpected opportunities.

Be picky. If the bills keep rolling in and your paychecks have long since stopped, it can be easy to panic and take the first job that’s offered. Don’t leap into the wrong job. It’s important that you take your time, keep your cool, and ultimately make the right decision for you.

If money is low, get an interim job. It may not be something you would want to do in the long term, but it will provide you with a steady paycheck during your job search. That way you’ll have money coming in and you will be free to keep searching until you’ve found the right job for you. Taking the wrong job and ending up being miserable could cause a string of job hops that will cost you valuable time and effort.

Start your own business. While it may not be feasible for you to start your own small business from the ground up—complete with angel investors and expensive staff members—it may be just the time for you to put your talents to work as a freelancer. Are you a prolific writer or a graphics guru? Use your business savvy to start freelancing while you’re searching for a new job. It can provide a cushion of income in between jobs and maybe even continue to supplement you once you’ve landed a new gig.

Even better, the business in the meantime will keep your skills sharp and provide great references for your résumé. And doing work in between jobs can show a potential employer that you are motivated and that your skills are desirable.

Now, more than ever, is when being proactive counts the most. We live in an economy where there are fewer jobs and more people looking for them, and the competition is tough. This is just the reality. And as hard as it may seem at the time, the more objective that you can be about your job loss, the better the end result you will create for yourself. Don’t let losing your job define who you are; let the way you handle it define who you will be.

# # #

About the Book:

The Good Person Guidebook: Transforming Your Personal Life (Five O’Clock Books, 2008, ISBN: 978-0-944054-16-1, $14.95) is available at www.amazon.com.

For more information, please visit www.fiveoclockclub.com.

With each day’s headlines announcing new corporate layoffs, rising unemployment rates, and an increasingly volatile stock market, it may seem counterintuitive for businesses to place much, if any, importance on hiring new employees. However, for companies with the foresight and optimism to think beyond the recession, there are a number of great reasons to take advantage of the current economic climate by putting an increased emphasis on strategic hiring. In fact, companies who do so may be improving their odds of not only surviving the economic downturn, but emerging from it stronger, more productive, and better-positioned for long-term success.Hiring While the Others are Firing
The obvious reason to consider hiring in the current economic climate is simple: great candidates are in high supply. Widespread layoffs have created a huge pool of prospective employees, many of whom have years of experience and expertise to offer. These days, employers have a unique advantage in being able to select from a wider pool of talent at a significantly lower cost, yet many fail to take advantage of this opportunity by thinking short-term about their staffing needs. According to research in the Fall 2008 issue of McKinsey Quarterly, “finding talented people (is) likely to be the single most important managerial preoccupation for the rest of the decade,” but “too many firms still dismiss talent management as a short-term, tactical problem rather than an integral part of a long-term business strategy.”
Despite its many negative consequences, the current down economy does provide a unique opportunity to line up top industry talent that may have been unavailable or unaffordable just months ago. Think of it as potential “investment hiring:” a chance to add some top-performers to your team who can help carry your company through the current recession and into a strong future.Making the Most of Your Hiring Dollars
Though hiring in a down economy is a smart strategic move, it’s important to remember that the hiring process can also be expensive if done inefficiently. Companies looking to take advantage of the current job market while still cutting back on HR expenses should consider the following tips and guidelines for effective, affordable hiring in a down economy:* Be Selective: Remember, these days it’s a buyers’ market when it comes to the hiring process, and a bad hire is an especially tough expense to bear in a difficult economy. That means it’s a good time to streamline hiring processes and get increasingly selective about putting together a team of the best and brightest, even if it requires more time waiting for your ideal employee. In a good job market, employers are prone to making hasty decisions in fear of losing their job candidates to other opportunities. In a slow job market, however, you can afford to spend more time carefully recruiting, screening, interviewing, and verifying prospective new hires. Make sure that in sifting through the large number of job applicants, you’re choosing to interview and/or hire only those candidates who can demonstrate proven results and excellent performance in their previous positions.* Take Advantage of Contract Employment: Hiring 1099 contractors rather than regular W2 employees can be a cost-effective way to take advantage of some of the top talent available in the current job market. It can also be a great way to bring former full-time employees or retirees back on board after forced layoffs or early retirement. In doing so, you’ll be re-hiring those tried-and-true workers who are already trained and familiar with your company’s procedures and policies, resulting in lower hiring and training costs and a much shorter time-to-productivity. Plus, because contractors work on an as-needed basis, you’ll pay these employees only for the hours necessary to complete a task or special project.
You can also utilize contract positions in “trial hire” situations, payrolling them through a 3rd party employer of record for a probationary period of time. Once the pre-determined trial period has ended, the contract staffers who have proven to be a successful match for your company can come on board as regular employees.* Stay Competitive: Though it may not seem to matter quite as much in the current job market, once you’ve secured your ideal employees it’s critical to build their satisfaction and loyalty. After all, your “investment hiring” won’t be much of an investment if it walks out the door at the next available opportunity. Make sure you’re providing employees with competitive salaries, attractive benefit programs, a positive work environment, opportunities for growth, and plenty of reasons to continue contributing their unique talents and skills to your business. In doing so, you’ll ensure that the winning team you’ve assembled will stay together even after the economy inevitably improves and jobs become more plentiful.
When the recession comes to an end (and it eventually will), the forward-thinking decision to utilize investment hiring will likely place your business among those who surface from the recession re-energized, more productive, and backed by one critical strategic advantage: the best employees your industry has to offer.