Silence is Golden

You may remember me writing about the Quincy compressor I recently sold, and how it was a difficult item for which to find a buyer. During the four months it took to find the buyer, I had to do research on product specifications, lower the price, and make sure I was targeting all the key words.

When I finally did find the buyer it was not as easy of a sale as one might think. After the prospective buyer inspected the product, he explained that he needed a certain output and this particular item was a little shy of what he needed it for. After this statement, the first thought that crossed my mind was, “Damn. Back to the drawing board.” But, I did not verbalize this fear. The buyer contemplated for several minutes. He finally said, “I could make this work, but it’s going to require some work and parts.” 10 minutes later, we had agreed on a fair price for the compressor.

The lesson to be learned is that silence is useful, and to not assume that a sale will not pan out. In spite of our assumptions or concerns regarding a sale, the expression “silence is golden” often does translate into a positive transaction.

Drew Patterson, MBA
http://www.drewjpatterson.com

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A lesson from Craigslist

I sell a lot of random items on craigslist –from my own collection, or items for other people. It’s very easy to find a buyer who is willing to pay exactly I’m pricing a product if, say, the product is a high demand Ipad.

Things get trickier when the products is something like a Quincy 5 hp shop air compressor, that weighs 1,200 pounds and will require several people and a dual axel trailer to transport.

I sold both an Ipad and a Quincy compressor in the last 3 months. The Ipad took me about 2 hours total, which included: researching market price, posting, meeting the buyer, and finalizing the purchase. The Quincy took me 4 hours to research, post, and finalize the purchase with a buyer. However, I should mention it took 4 months to find that buyer!

My tips for both processes are simple: In addition to conducting research on market rates for items, taking quality photographs, and writing detailed descriptions, use the phone screening process to you benefit. During the phone screening, make sure prospective buyers are well aware of the price, what it is, how to deliver it, and current condition. In the case of the compressor, I made sure over the phone they realized how big of a car they needed to pick this thing up, the current condition, and how firm I was on the price. If they just brought their truck and not a trailer it would have never sold! The phone screening process helped weed out the prospective buyers who would have likely shown up to look at the compressor, and turned around. Both of us would have wasted out time.

Do your research, spend your time wisely, and make more sales!

Drew Patterson, MBA
http://www.drewjpatterson.com

Starting

I recently took a two-week hiatus from working out. In the past, I would bike, run, and go to the gym 3-4 times a week. Last Thursday, I finally returned to running. Upon commencing the run, my motivation and stamina were severely lacking. I told myself, “Just keep going, and it will eventually be ok.” While this positive-self-talk was somewhat encouraging, I was nonetheless physically suffering! I thought to myself, “This is what aging feels like. It sucks!” I did not have the recovery that I had ten, or even five years ago.

I am, however, always aiming to find a lesson or positive outcome from most situations. So, after having reflected upon this less than encouraging physical activity, I told myself I had to gain something. The lesson here is that starting is often the hardest part. But, it’s not the whole story. I also learned that consistency is key. Three workouts in, I’m feeling great, and now I have the momentum and mindset to keep going.

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Drew Patterson, MBA
www.drewjpatterson.com

Give Thanks

As my three day weekend comes to an end, I have a lot to be thankful for; my beautiful fiancé, family, friends, and being able to spend quality time with all of them.

There is a lesson to be learned here. Our daily lives and workloads can be awfully stressful, and can put a strain on relationships. It is important to unwind and spend quality time with our loved ones so we can grow those relationships and refocus ourselves for the future..

Drew Patterson, MBA
www.drewjpatterson.com

Visiting Berney Falls in California 5/25/14

Visiting Berney Falls in California 5/25/14

What You Learn In Sales

I recently stumbled upon this article “One Job That Could Guarantee Your Success” by Joel Peterson. After reading it I could not agree more. Why do MBA students resist sales?

In the article he notes 4 different key skills a salesman develops in his career:

1) Conquer rejection: cold-calling, market surveying, and… rejection.

2) Hone your networking skills.

3) Tackle and solve problems.

4) Rise to the top using your negotiation, pervasive, and communication skills.

There were so many bright MBA students I met in my MBA program, but a significant number of them had not worked on those four skills. If they were armed with those skills in addition to all the other material we learned in the MBA program, the sky would be the limit!

Going back to school may be a larger commitment than you may be looking for, but what about the above skills? When is the last time you took yourself out of your comfort zone and worked conquering rejection, or networking, or even communicating? Help yourself, and your company will take notice.

Link to article

Drew Patterson, MBA
www.drewjpatterson.com

Eat the Frog

If you’re scratching your head at the title of this post, it’s likely because you have not read the book by Brian Tracy titled, unsurprisingly, Eat that Frog! The concept of eating said amphibian is simple: if we tackle the hardest task first thing every day, the rest of the day will be much more relaxed, fun, and we will accomplish a lot more. After implementing this practice in my life, I have come to notice the rewarding results.

Even on the weekends, the first thing I do is tackle my workout. If I don’t do it in the morning I will likely talk myself out of it later in the day! Once my workout is done I can look forward to spending relaxing time with my fiancé and Sheila(my dog).

Another benefit of eating the frog is that you’ll reduce the likelihood of things blowing up in your face. You know the old saying — “an ounce of prevention is worth a pound of cure”? Well, think of “eating the frog” as your prevention. Get your oil changed on your lunch break and avoid car trouble next month. Call that challenging client this morning and you won’t have to worry about an angry call later this week. Clean your house before leaving for the weekend and avoid a headache come Sunday night…. Get the idea?

You can apply this to every aspect of your life. I promise you will get more done and be happier knowing that the difficult things are over. Give it a try! I leave a fake frog on my desk at home to remind me to implement this concept into my daily life.

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Drew Patterson, MBA
www.drewjpatterson.com

Time

Time is an interesting thing.  One thing stands true no matter what — we all have a finite amount of time.

Spiral Time

Time

Recently, I have been thinking about all the things I do every day: brushing my teeth, taking out the trash, commuting to work, going online, etc. I realized how much time these activities take out of my day and asked myself, why do I do them in the first place? Some things need to be done, of course. But, there is a lot that you can eliminate.

I came up with two solutions:

1.)    Stop doing all the activities you don’t want to do, if at all possible. You don’t have to visit all of your friends. You don’t have to go to the store every week.

2.)    Combine activities. For example, I listen to audiobooks when I walk my dog.

Even if you just think about all the things you do, you are making a step to get more done and have more time doing the things you enjoy!

Drew Patterson, MBA
www.drewjpatterson.com