The number one tool for marketing is the handshake and a smile. It costs zero to extend the hand and use a few facial muscles. But the value it generates is priceless. Pretty much all business relationships begin this way. The handshake and smile is the most effective marketing tool available at all levels of business.
To understand the value the handshake and smile brings to a business relationship, put yourself in the shoes of the potential business contact or customer. Enthusiasm is like a disease, it spreads with ease. As a small business owner, I’m sure you have had many encounters with others. Which ones do you remember well? I’m pretty confident the handshakes with strong smiles and a fair grip were the ones that started long term relationships.
I personally feel that I have had over 3,000 encounters in my many years of business relationships. Of those, I remember well about a dozen from the moment we met. The recipient of my extended hand had a much warmer smile and a warm greeting. They often caught me at a bad moment and would make light of the situation breaking the ice. In one encounter, I had started the day with mismatched socks – one of those rushing out the door moments. The client asked which color was my favorite. He pointed at my feet and had me lift my pant legs up. Sure enough, mismatched socks! I was at a loss for words, so he proceeded to state that at least he never had mismatched socks, he only wore white. It turned into a long term relationship and I still provide advice to him today. Now when I meet someone new, I look for some detail to break the ice and find some form of basis to begin the relationship. It could be a lapel pin, the logo on his hat, the type of shoes he wears, or even his haircut. Since I’m bald, I can always fall back on the ‘at least you have hair’ introduction.
Now that the ice is broken, it is time to create the relationship. Look for clues in the initial contact, where they are from, schools attended, organizations they belong to. Make the connection to you and then maybe find a commonality of an individual to create some form of a bond. Once this bond is made, transfer the conversation to the business at hand. Be enthusiastic and demonstrate pride in what you do and the sale will make itself. People want to be comfortable and have a connection to the person they deal with in life. The greater the bond between the two of you, the easier it will be to make a sale or create a long-term business relationship.
The handshake and smile are about creating relationships. Relationships last a lifetime and bring more than just financial gain; they bring a sense of family and mutual support. Act on Knowledge.
Do you want to learn how to get returns like this?
Then learn about Value Investing. Value investing in the simplest of terms means to buy low and sell high. Value investing is defined as a systematic process of buying high quality stock at an undervalued market price quantified by intrinsic value and justified via financial analysis; then selling the stock in a timely manner upon market price recovery.
There are four key principles used with value investing. Each is required. They are:
- Risk Reduction – Buy only high quality stocks;
- Intrinsic Value – The underlying assets and operations are of good quality and performance;
- Financial Analysis – Use core financial information, business ratios and key performance indicators to create a high level of confidence that recovery is just a matter of time;
- Patience – Allow time to work for the investor.
If you are interested in learning more, go to the Membership Program page under Value Investing section in the header above.
Join the value investing club and learn about value investing and how you can easily acquire similar results with your investment fund. Upon joining, you’ll receive the book Value Investing with Business Ratios, a reference guide used with all the decision models you build. Each member goes through three distinct phases:
- Education – Introduction to value investing along with terminology used are explained. Key principles of value investing are covered via a series of lessons and tutorials.
- Development – Members are taught how pools of investments are developed by first learning about financial metrics and how to read financial statements. The member then uses existing models to grasp the core understanding of developing buy/sell triggers for high quality stocks.
- Sophistication – Most members reach this phase of understanding after about six months. Many members create their own pools of investments and share with others their knowledge. Members are introduced to more sophisticated types of investments and how to use them to reduce risk and improve, via leverage, overall returns for their value investment pools.
Each week, you receive an e-mail with a full update on the pools. Follow along as the Investment Fund grows. Start investing with confidence from what you learn. Create your own fund and over time, accumulate wealth. Joining entitles you to the following:
- Lessons about value investing and the principles involved;
- Free webinars from the author following up the lessons;
- Charts, graphs, tutorials, templates and resources to use when you create your own pool;
- Access to existing pools and their respective data models along with buy/sell triggers;
- Follow along with the investment fund and its weekly updates;
- White papers addressing financial principles and proper interpretation methods; AND
- Some simple good advice.