Book 14/16 Thinking Fast and Slow by Daniel Kahneman

My book review of Daniel Kahneman’s “Thinking fast and Slow” How do we make decisions quickly is system 1, slow and deliberately is system 2. This is done daily with people, and products. How do you move form system 2 to system 1 build trust!

Book 14/26 Thinking Fast and Slow by Daniel Kahneman. two systems in our brains that helps us make decisions. System 1 fast. I know and trust this person or brand, system 2 slow and deliberate, I don't know and trust this person place or thing and it will take me some time to decide.

Introduction to RTB Limited Podcast: Ring The Bell to Success

Initial intro of RTB Limited’s Podcast: Ring The Bell to Success outling what we will discuss moving forward. helping people and companie succeed in three major areas People, Process, and Profit skills.

How to Sell the Invisible

I recently read the book Selling the Invisible by Harry Beckwith. It’s part of my Leaders learning series that I have been embarking on in 2018, and it was also a great suggestion by a friend.

Now I have been in sales basically my entire adult life. I started selling simply enough in retail as a sales associate at The Finish Line, selling sneakers a physical product. It was my freshman year in college, and quickly showed my acumen for sales. Having the highest multiple sales percentage or selling add ons when people only come in for sneakers in the store. Not long after I was training others to do the same then moved into assistant manager role and finally co-store manager.

Then after college I started working in B2B sales selling DHL Shipping service(both a physical product and service a hybrid model) for domestic and international customers. It was a war of attrition with outbound call volume being tracked by a CRM system and a sales quota based on dollars of new customers. I did really well in this position but it was a means to a goal to eventually enter into medical device sales. What I learned here was you were really selling yourself, and on price. People more than likely already had a shipping partner in Fed-ex or UPS, and DHL was aggressively going after the domestic market after years of being the international leader. DHL had a strong base and brand as international shipper. So once you had the business you had to keep it, and of course there were many issues early on.

Next I entered Medical Device sales selling Orthopedic disposables and capital equipment to hospitals and Ambulatory surgery centers. This was a product sale but with a strong relationship part of the sale as well. Adding technology like robotics to the sale makes it a four part sale, of product, clinical, technical and relationship I have done this for the last 12 years.

In the last two years a few friends and I started a consulting company focusing on Business Consulting, Training and Coaching. We are focusing on Medical Device Companies, Medical Practices and Small to Medium Sized business. We work with companies and analyze what we feel are the three main pillars of any business; People, Process and Profit. We then offer suggestions, training or coaching to help the company or individual improve in whichever of three vertical needs improvement.

So how does this tie into Harry Beckwith and Selling the Invisible, because consulting is basically invisible until you produce a product or service. We also have he challenge of building a brand name out of thin air.

Why would anyone know what RTB Limited means or stands for. So it is our job to create that brand name recognition, we are starting to use a skeleton of these tidbits and you can take what you like from it as well. I am aiming to share some value here with my friends. Just as a heads up RTB stands for Ring The Bell, more on that on a later post.

Here is a quick Synopsis of the book. It is kinda of dated with early 90’s references, but still offers great value.

Regarding Your Basic Service

• Assume your service is bad. It can't hurt, and it will force you to improve. (p.6)

• Let your clients set your standards. (p.8)

• Ignore your industry's benchmarks, and copy Disney's. (p.9)

• Big mistakes are big opportunities. (p.12)

• Don't just think better. Think different. (p.17)

• The first rule of marketing planning - always start at zero. (p.18)

• Create the possible service; don't just create what the market needs or wants. Create what it would love. (p.20)

Regarding Market Research

• Always have a third party conduct quality satisfaction surveys. (p.24)

• Survey, survey, survey. (p.25)

• Beware of written surveys; it's far better to conduct oral surveys, as you have a chance to clarify any misunderstandings. (p.27)

• Beware of focus groups - they often reveal more about group dynamics than about how individuals think. (p.31)

Regarding Marketing

• Every act is a marketing act. Make every employee a marketing employee. (p. 38)

• "In most professional services, you are not really selling expertise - because your expertise is assumed, and because your prospect cannot intelligently evaluate your expertise anyway. Instead you are selling a relationship." (p.42)

• Before you try to satisfy "the client", understand and satisfy the person. (p.43)

• Often, your client will face the choice of having you perform the service, or doing it themselves. Therefore, often your biggest competitors are your prospects. (p.45)

• Make technology a key part of every marketing plan. (p.50)

• Study each point of contact with your client - your receptionist, your business card, your building, your brochure, your website, your invoices. Then improve each one significantly. (p.51)

• Be professional - but, more importantly, be personable. (p.54)

Regarding Planning

• You'll never know the future, so don't assume that you should. Plan for several possible futures. (p.59)

• In successful companies, tactics drive strategy as much or more than strategy drives tactics. Do anything. (p.62)

• Execute passionately. Marginal tactics executed passionately almost always outperform brilliant tactics executed marginally. (p.63)

• Do it now. The business obituary pages are filled with planners who waited. (p. 65)

• Have a healthy distrust of what experience has taught you. (p.73)

• Don't let perfect ruin good. (p.76)

How Prospects Think

• Appeal only to a prospect's reason and you may have no appeal at all. (p. 88)

• Familiarity breeds business. Spread your word however you can. (p.90)

• Take advantage of the Recency Effect. Follow up brilliantly. (p.91)

• The best thing you can do for a prospect is eliminate their fear. Offer a trial period or test project. (p.98)

Positioning and Focus

• Stand for one distinctive thing that will give you a competitive advantage. (p.103)

• To broaden your appeal, narrow your position. (p.105)

• In your service, what's the hardest task? Position yourself as the expert in this task and you'll have lesser logic (the idea that if you can do the hardest thing well, you must be able to do everything well) in your corner. (p. 107)

• Don't start by positioning your service. Instead, leverage the position you have. (p.112)

• Positioning statements should address the following six points:

  1. who

  2. what

  3. for whom

  4. against whom

  5. what's different

  6. so...? (p. 114)

• Choose a position that will reposition your competitors; then move a step back toward the middle that will cinch the sale. (p.119)

• In positioning, don't try to hide your small size. Make it work by stressing its advantages such as responsiveness and individual attention. (p. 120)

Pricing

• Setting your price is like setting a screw: a little resistance is a good sign. (p. 133)

• Beware the deadly middle. If you price in the middle, what you are saying is "We're not the best, and neither is our price, but both our service and price are pretty good." Not a very compelling message. (p.134)

• Don't charge by the hour. Charge by the years (of experience). (p.138)

• In services, value is a given. And givens are not viable competitive positions. If good value is your best position, improve your service. (p.139)

Naming

• Give your service a name, not a monogram. (p.143)

• Generic names encourage generic business. (p. 145)

• Never choose a name that describes something that everyone expects from the service. The name will be generic, forgettable and meaningless. (p. 145)

• Be distinctive - and sound it. (p.146)

• In service marketing, almost nothing beats a brand. (p. 151)

• A service is a promise, and building a brand builds a promise. (p.154)

• Invest in and religiously build, integrity. It is the heart of your brand. (p.155)

• A brand is money. (p.160)

• Give your prospects a shortcut. Give them a brand. (p.161)

Communicating and Selling

• Your first competitor is indifference. (p.171)

• Say one thing. (p.171)

• After you say one thing, repeat it again and again. (p.175)

• Don't use adjectives. Use stories. (p.176)

• Attack your first weakness: the stereotype the prospect has about you. (p.176)

• Create the evidence of your service quality. Then communicate it. (p. 178)

• Seeing is believing. Example: even when people know the tricks used by the grocery industry to make ripe oranges appear orange, they still are buy fruit with the most orange-looking peel exterior. Check your peel. (p.188)

• If you are selling something complex, simplify it with a metaphor. (p.194)

• You don't listen to clichés. Your clients won't either. (p.197)

• In presentations, get to the point or you will never get to the close. (p.198)

• Tell people - in a single compelling sentence - why they should buy from you instead of someone else. (p.199)

• You cannot bore someone into buying your product. (p.201)

• If you want publicity, advertise. (p.203)

• Make your service easy to buy. (p. 209)

• Above all, sell hope. (p.214)

Nurturing and Keeping Clients

• Watch your relationship balance sheet; assume it is worse than it is, and fix it. (p.219)

• Don't raise expectations you cannot meet. (p.220)

• To manage satisfaction, you must carefully manage your customer's expectations. (p.222)

• Keep thanking your clients. (p. 223)

• Out of sight is out of mind. (p.229)

What does this all of this tell us, that sales is an evolving practice that changes everyday with the way people buy. Most people research online quite a bit before making a purchase or commitment of any kind. Consider the last time you bought a car? This also include the brand they buy, so building a brand is just as important as having an amazing product and service. I hope this helps some people when reading this review. If you need additional help with People training in Sales and Leadership skill. Please feel free to contact RTB limited for a free initial consult.

Leaders are Learning Book 8/26 The Go-Giver by Bob Burg, and John David Mann

How much do you give?

Here is a Video blog of my review of "The Go-Giver by Bob Burg and John David Mann". This is a great adjunct to other books about giving like "Adam Grants Give and Take". My notes on the book are below for you to review. How can this help you as a leader? Giving back to your team in knowledge, life skills and connections can help your whole network.

How are you giving back? That is the question. Time, Money, resources, connections.

1. JUST GIVE!

2. People do business with people they know, like, trust.

   1. Your true worth is determined by how much you give in value than you take in payment

3. First Law: the Law of value; you’re a true worth is determined by how much you give in value than you take in payment

4. The Second Law: The Law compensation your income is determined by how many people you serve and how well you serve them.

   1. How many lives do you touch?

   2. Give and serve and you will receive

   3. Why work? Survive, save, and serve to grow from nothing.

5. The third law: Your influence is determined by how abundantly you place other peoples interest first.

6. The fourth law: the most valuable gift you have to offer is yourself

7. the fifth law: The Law of receptivity: the Key to effective giving is the stay open to receiving

   1. Being open and perceptive is the best way to receive from others, you never know when it will come.

If you would like to learn more about what RTB Limited does and how we can help you click to schedule a free and quick 15min call here.

Reading is Fundamental

If you grew up in the lates 70's to early 80's like I did you grew up on Saturday morning cartoons and TV Shows and of Course PBS. Sesame Street and in 1983 PBS launched Reading Rainbow starring Lavar Burton. Most remember him from Reading Rainbow and Star Trek. However what we learn from Reading Rainbow is that Reading is Fundamental for growth in your field as it is explained in this HBR Article.

In the article, the author changed his lifestyle by removing his TV from the main living area and it took the temptation away to watch TV and read more. So he has read 50 books last year and this year is on track for 100. My goal is 26 in 2018. This is a minor goal but I am determined to read more and broaden my horizons and find a new way to inspire people to take a deeper look at themselves and how they can live and lead a better life.

In my journey so far, I have compiled a scattered list of books to read, and truthfully many are recommendations by others who have had great experiences with the books. Many are military books, or books about leadership, entrepreneurship and sales and marketing. All these subjects I am passionate about and looking to grow further in. Then there are a few that help me grow as a Human Being if your interested take a look at what is left on my list for 2018. Be on the lookout for my thoughts on the books and how they can help you as a leader, Teammate, and person! www.Rtblimited.com/blog

Past

1. The Starbucks experience - Joseph Michelli 
2. Moving up to medical sales - Michael a Carroll
3. Give and take - Adam grant 
4. To sell is human - Daniel pink
5. Grit - Angela Duckworth
6. Art of war - sun tzu 
7. Closing techniques - Stephan Schiffman
8. Boost your interview IQ- Carole Martin 
9. Business writing and communicating - Kenneth Davis
10. Mind manipulation- Dr. Haha Lung
11. The first 90 days - Michael Watkins 
12. Legacy - James Kerr 
13. . Leadership and 1 min manager - Ken Blanchard 
14. The happiness advantage - Shawn anchor 
15. Social selling- Tim Hughes
16. Extreme ownership - Jocko Willink
17. Beyond return on investment- Pam arlotto 
18. The trusted advisor - David Maister 
19. . Freakonomics - Stephen dinner 
20. Lone survivor - Marcus Luttrell
21. Supervisors portable handbook - George fuller

Rest of year

1. Rise and grind - Daymond John
2. Book of five rings - Miyamoto Musashi
3. Go-Giver - Bob Burg
4. The leadership challenge - James kouzes, Barry posner
5. Creating the high-performance team- steve buck holtz
6. Soar with your strengths - Donald Clifton 
7. Cash flow quadrant - Robert Kiyosaki 
8. Winning when outgunned and outmanned - Gen. Hal Moore 
9. Selling the invisible - Harry Beckwith
10. Mastery - Robert green
11. The book of joy- Dali Lama 
12. About face - Col. Hackworth
13. Thinking fast and slow - Daniel Kahneman 
14. The four tendencies- Gretchen Rubin
15. 10% better- dan Harris
16. money- Tony Robbins
17. Flawless Consulting - Peter Block
18. Meditations - Marcus Aurelius
19. The tax and legal playbook - Marc Kohler
20. Crushing It - Gary Vanderchuck
21. The CEO Next Door - Elena L. Botelho, Kim R. Powell
22. Alive at Work - Daniel M. Cable
23. In Defense of Troublemakers - Charlan Nemeth
24. That's what she Said - Joanne Lipman
25. Big Potential - Shawn Achor
26. Great at Work - Morten Hansen
27. The Culture Code - Daniel Coyle
28. Lean Startup - Eric Ries
29. Principles - Ray Dalio
30. Exactly What to Say - Phil M. Jones
31. 12 Rules for Life - Jordan Peterson
32. The Four Tendencies - Gretchen Rubin
33. Blue Ocean Strategy - W. Kim Chan

Leaders are Learning Series Book 6/26 Musashi's Book of 5 Rings

The book of 5 rings by Miyamoto Musashi

1. Book Of Earth

   1. A leader must understand himself before he can understand the realities of leadership and asking others to do tasks, especially when watching is involved

   2. Only when each soldier has been observed can the commander know which warrior will be able to perform a specific act, otherwise chaos will result

   3. A leader should circulate among his people to appraise strengths and weaknesses. Praise and admonish

2. Book of water

   1. You can only fight the way you practice

   2. You should strive to constantly educate yourself while still practicing your primary skill

   3. Focus on posture and body control when going into any situation, make your spine straight and bigger than you are.

   4. Becoming one with hitting your enemy, you must have a trainer.

   5. No thought no idea - attack your enemy with your body leaning forward with a confident attitude...this is how you should attack your day start before the greatest enemy catches up with your time.

   6. Attacking through the enemy- when your tired dig down deep and Sumon your energy to finish the attack and the day.

   7. He talks about stabbing but really means attack your problems directly with employees or the business as a whole

3. Book of Fire

   1. The form where you fight- situational awareness, escape routes sometimes you cannot win the fight. Always finish your opponent

   2. 3 strategy to control the enemy- either you take the lead, hold off and take the lead, or force the lead. If you don’t control the lead the enemy will

   3. Timing- knowing yourself and your ability to fight will tell your body when you are ready to fight! If you are caught off guard you must counter quickly and aggressively

   4. Learn to be flexible in everything you do. Life is not scripted

   5. Know the enemy commander and his troops. Build a persona

4. The book of wind

   1. Be humble, let your actions speak for themselves

   2. Have a broad view of situations and don’t focus on the small things.

   3. How to think of speed- speed is not the most important thing, rather rhythm and timing, and execute correctly! Natural and calmly

5. The book of no-thing

   1. Everything is within, everything exists, seek nothing outside yourself

What is Soft Skills Training?

Soft skills are a combination of people skills, social skills, communication skills, character traits, attitudes, career attributes, social intelligence and emotional intelligence quotients among others that enable people to navigate their environment, work well with others, perform well, and achieve their goals with complementing hard skills. 

Many times companies neglect these skills in there employees growth. These soft skills can be developing new leaders through executive coaching or leadership and development training. It could also be investing in Sales and Presentation skills training or just giving your team a better grasp of the financials they are responsible for. Knowing how to work and build relationships and network internally and external to the company. Some companies are caught between a rock and hard place where they do not have the internal departments to spend time on these tasks or expertise. This is where companies like RTB Limited come in. Outsourcing of these training and coaching services enables companies to invest time and money into the growth and development of their most valuable assets their employees. 

Recent data shows the benefits of investing in soft skills training and executive coaching. This investment whether from the top down, middle or bottom-up leads to better results. From The Executive coaching level, you will see better teamwork and potentially better sales results. If you invest in the middle of your company you can see future leaders flourish and grow and be the next team that takes your company to higher results. If you invest in the bottom half or your company even in manufacturing employees feel more engaged and output increases. https://www.personneltoday.com/hr/how-to-measure-the-impact-of-soft-skills-training/

Talk to your HR department to see if they are ready to help invest in your professional growth. We can help you Ring The Bell to a successful career.

Soft Skills training at an Engineering company in Philadelphia 

How to Network and help grow your business

Do you know how to network? Did they teach a class on networking in college? No definetly not this is one of the most important soft skills to learn. Earlier this week I attended a networking event and as soon as walked in a few people just started handing me their business cards. I was almost immeadiatly taken back. I tried just introducing myself and saying Hi I’m Paul how are you tonight? It usually throws them off guard...I wonder why?

Networking is an important skill when you are in college and out of school meeting new connections and growing your business. Www.Linkedin.com is a powerful tool to help grow your digital network, but Reid Hoffman one of the founders of LinkedIn admited that early in LinkedIn inception its was all about who could get the most connections. Today that has changed but there is a lot to learn from this old practice. Some people treat networking the same way. It’s who can throw out the most business cards, or let’s get to know what you do and if you are not a qualified customer see ya later. In fact I’m my experience that is completely wrong. I will always teach people to send a note to new connections and offer a 15min phone call or coffee meeting to get to know each other better. Why not the worst they can say is no but at least you are making an effort. 

Here is a high level over view of what we teach at www.rtblimited.com 

1. Know your crowd ; What is Important to the people attending what are the challenges they face?
2. Make a connection;  when speaking to people at a networking event find a commonality and try to truly make a connection. This might not be the exact person you are looking to connect with but perhaps they know someone or they could possibly connect you to that person. 
3. Try and offer Value: It sounds cliche but really try and help the other person in some way. The more your give, you will receive more later down the line it’s just karma. Truly go back into your network and think of someway this can help your new connection. If you need statistical evidence please read “Give and Take” by Adam grant 
4. Meet up for coffee or lunch; If you don’t get to spend a lot of time with that person but see potential in working together suggest to meet up for coffee and learn more about them. Even if you don’t see potential to work together you never know how you can help someone. They may just need to get out of the office and talk. Always look to pay it forward!

 To Learn more about RTB Limited Services schedule a free consult by clicking on this link.