Principles and strategies Flashcards
Financial Macro Principles
Set guidelines to manage spending
Prioritize key financial dependencies
Budget extra spending money
Stick to the plan
Financial Micro Strategy to follow
Take total earned income, Pay mandatory expenses, save 50% of what is left after mandatory expenses are paid, Stretch spending money that is left over.
Marketing Micro strategy
Identify goals for business and marketing Research markets Profile potential customers Profile competitors Create test strategies
Marketing Macro principles
Service Price People Promotion Place
Sales Macro Principles
Customers buy what brings them value Listen more than we speak Demonstrate expertise Be helpful Momentum closes deals Selling is about relationships
Sales Micro Strategy
Define the buyer Tell a story Target a niche market Sell the brand Focus on internal growth Take immediate control of the sale Gather intelligence while building rapport Transition to close to build certainty
Customer service Macro strategy
Eliminate dumb contacts Engage self service Be proactive Make us easy to contact Own the actions across the company Listen and act Create a great customer experience
Customer service Micro strategy
Have the team on board
Craft a clear vision
Map the customers journey
Communication Macro strategy
Be Clear Concise Concrete Correct Coherent Complete Courteous
Communication Micro strategy
Listen with intent Reflect and validate Focus on issue Be flexible Provide solution to the issue Apologize for the inconvenience Thank them for their time
Negotiation Micro strategy
Separate the people from the problem
Focus on interests not positions
Invent options for mutual gain
Insist on using objective criteria
Negotiation Macro strategy
Negotiations are a continual process, not an individual event
Think positive
Prepare
Consider best and worst outcome
Be articulate
Remember, Negotiations are a give and take
Leadership Macro strategy
Lead by example Think as a team Focus on change Admit mistakes Understand the value of listening Develop skills Promote diversity Work together and achieve more
Leadership Micro strategy
Define and communicate vision Encourage recognition Speak from the heart Delegate and empower Commit to continued education
Project management Macro strategy
Have a clear and objective goal and outcomes
Clarify roles and responsibilities
Form project structure
Project management Micro strategy
Conception Planning Initiation Monitor performance Execute Project close
Delegation and time management Macro strategy
The right task The right circumstance The right person/people The right direction and communication The right supervision
Delegation and Time management Micro strategy
Know deadlines Set reminders Plan ahead Time limit each task Block out distractions Establish routine
Assign tasks to specific person tailored to their interests and skill set, and provide authority to complete task
Problem solving Micro strategy
See each problem as unique
Focus on reasons for solving the problem
Seek solutions using long term perspective
View problems(s) from a systems approach
Keep people in mind when creating solutions
Problem solving Macro strategy
Define the problem Visualize the problem Break problem down Redefine the problem Draw diagram of problem Collect and organize information about the problem
Networking Macro strategy
Think win/win Give more than you get Be active Quality over quantity People do business with people they like
Networking Micro strategy
Networking is about contacts Be the one to initiate Be bold Anticipate discomfort Expect acceptance Pass it on Always respond
