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Idea to Action

 - a newsletter for people who want to design their lives and small business

Issue 16

17 Feb 2011

Greetings!

In today's issue I look at how you can use sales promotions  in your business while continuing  the reflection on values.
  
Sincerely,

Jaki
LifeSkills Coaching Consultants
Jaki
IN THIS ISSUE
HONOUR YOUR VALUES
PROMOTE YOUR BUSINESS
NEEDS AND VALUES WORKSHOP
HONOUR YOUR VALUES

 

IDEA TO ACTION QUOTE:   Happiness is that state of consciousness which proceeds from the achievement of ones values - Ayn Rand

  Best of me 

 

In developing awareness of your value system you may find that you begin to think about  your needs and how they drive you.  This reflection can reveal reasons for certain habits, and if you look deeper, you discover that those habits are your way of meeting a need. The question is, how healthy are the ways in which you meet that need? To what extent does it help you to live from your place of power?

If you are meeting needs in unhealthy ways personal energy is deflected into things that distract you from your purpose. Such distracting habits are energy drainers. You may find that when you are engaging in those habits you don't like yourself much. Yet, when your needs are met in healthy ways, they can become values by which you live by.

Another thing to consider is what values mean to you. It pays to define what the words you choose to describe your core values mean to you. For example, one person's definition of 'community' might be to donate a portion of their income to support activities in the community. Or it might mean sending money to relatives on a regular basis. For another, it might be to dedicate some of her time  volunteering for the community.

Another area you could reflect on is the degree to which day to day actions express your values. Do your habits honour your core values?  If habits are values in action, then,  by observing our habits, we can see the attitudes and mindsets that drive our life. If you really want to live your values, practise habits that support your values. And if your life feels like a struggle it might be that you need to schedule time for 'values driven activities'. This idea is core to achieving work-life balance. 

  

The following exercise can help you determine whether your work goals are aligned with your core values:

Make a list of your work goals for the next 2 to 3 months, and another one for the longer term: 2 - 5 years. For each goal listed reflect on whether you can really live your core values as you chase these goals. You may find that you need to review your goals, or the process you will use to achieve them.

 

Resources:

Williams, P and Menendez D: Becoming a Professional Life Coach, 2007

www.selfcounseling.com

www.ethicalleadership.org

 

 

PROMOTE YOUR BUSINESS! 

IDEA TO ACTION QUOTE  This may seem simple, but you need to give customers what they want, not what you think they want. And, if you do this, people will keep coming back - John Ilhan

 

BOGOFSales promotions are simply incentives to customers to buy.  Together with advertising, personal selling and public relations they make up what marketers call the promotional mix.  If you want to promote your business through sales promotion, you need to consider what your objective is before you can decide what technique to use.

To clear old stock to make way for newer stuff, you should consider BOGOF, or buy one get one free.  This is not the same as selling at half price because it forces the customer to take 2 items in one go, thus reducing your stock.

If you are looking to build awareness for your business then you could give away free samples.  Sampling and free trials give customers the opportunity to experience products, often in small quantities or for a short duration, without purchasing the product. Do not forget to consider the cost of the samples. In fact, use this method if you expect to gain business worth more than the cost of samples.  So, if you give away free juice worth 3000/= to 10 people, out of whom two become customers who give you business worth 5000/= then your promotion worked well. If, however, you end up with three new customers who spend 2000 /= on your juice then it wasn't successful.

To guard against this you could offer free products on condition that a purchase is made.  This is what happens when you get a free toilet bag for every dress you buy.

Another form of sales promotion involving free merchandise is premium or "give-away" items. Premiums differ from samples and free product in that these often do not consist of the actual product, though there is often some connection.

If the objective for your business is to encourage customers who have already bought from you to come back, then you could offer a discount on the next purchase.

One thing to remember is that while you are promoting your products you are likely to see a spike in sales.  Question is, where will the sales settle after the promotion ends? If higher than normal, then you have gained new customers, or they are buying more. If the same or less,  then your promotion was not successful.

Also be careful not to over promote, to the extent that customers only purchase when you have a promotion.

NEEDS AND VALUES WORKSHOP

Do you have unmet needs? How do they drive you?

What are your core values?

Are you honouring your core values by the way you live?

 

If you are unsure about any of the answers to these questions come to our

Needs and Values workshop

 

Date:  5 March 2011

Place : 1st Floor Luther Plaza

Time: 2.30 pm to 5.30 pm

Your investment: 2850/= including  workshop materials, snacks and parking.

 

 

CALENDAR OF EVENTS

Auditorium 

19 Feb 2011

 

Talk: Work and Life- the art of Balance

 

 St Mary's Sportsview Academy

 

Closed Event

 

 

 

 Dec workshop

 

 

 

 O5 March 2011

 

 

 Needs and Values Workshop  

 

 Register Here

 

 

 

 

 

Look out for

International IDEA TO ACTION

WORKSHOPS IN 2011