70% | Percentage of prisoners paroled who appeared before the judges early in the morning
10% | Percentage of prisoners paroled who appeared before the judges late in the afternoon

The researchers found nothing malicious or even unusual about the judges’ behavior. According to Levav and Danziger, the judges were simply displaying the common pattern of  “decision fatigue.”

It’s the same kind of fatigue that routinely warps the judgment of all of us, says John Tierney, a science writer for The New York Times and co-author of the book, Willpower: Rediscovering the Greatest Human Strength.*

Quote from Tierney:

“Decision fatigue helps explain why ordinarily sensible people get angry at colleagues and families, splurge on clothes, buy junk food at the supermarket and can’t resist the dealer’s offer to rustproof their new car. No matter how rational and high-minded you try to be, you can’t make decision after decision without paying a biological price.”

It’s also what makes tired and hungry judges deny prisoners parole.

What causes decision fatigue?

Blame glucose, the simple sugar that is the energy source for most living organisms. Glucose levels rise and fall throughout the day, impacting anything that requires mental effort. Things like self-control and thoughtful decision-making are influenced by these swings in the level of glucose.

So, when are the best times of day to pitch for a major contract?

There are all types of activities related to running a small business that can be impacted by decision fatigue. The more you know about how it works, the better you can plan for it. For example, if you know you are going to be making a presentation to potential buyers of your product, you want to make sure not to schedule such a meeting at a time likely to be in their decision fatigue zone.

When are the decision fatigue zones? To find out, let’s follow through the day the previously-mentioned judges and learn when you want to appear before a group of decision makers.

A little before 10:30, the judges were served a sandwich and a piece of fruit.

20% | Chance of getting a parole right before snack time
65% | Chance of getting a parole right after snack time

The snack time buzz lasted only a short period of time. You really don’t want to appear in front of a panel of judges around noon when lunch is moments away.

10% | Chance of getting a parole right before lunch
60% | Chances of getting a parole right after lunch

Bottom line | Make your pitch immediately after the decision-maker(s) eat.

“Good decision making is not a trait of the person, in the sense that it’s always there. It’s a state that fluctuates.”

What are the best ways to cope with decision fatigue?

According to Roy F. Baumeister, co-author of Willpower: Rediscovering the Greatest Human Strength and professor at Florida State University, people who cope best with decision fatigue are the ones who structure their days in ways that conserve willpower. Here are some of the tactics to maximize the amount of time during the day you can make good decisions:

• Never schedule endless back-to-back meetings.
• Establish habits that eliminate the mental effort of making choices. (A wardrobe of jeans and black turtle necks worked for Steve Jobs.)
• Don’t wait until the morning to force yourself to exercise, set up regular appointments to work out with a friend.
• Instead of counting on willpower to remain robust all day, conserve it so that it’s available for emergencies and important decisions.

“Even the wisest people won’t make good choices when they’re not rested and their glucose is low,” Baumeister points out. That’s why the truly wise don’t restructure the company at 4 p.m. They don’t make major commitments during the cocktail hour. And if a decision must be made late in the day, they know not to do it on an empty stomach. “The best decision makers,” Baumeister says, “are the ones who know when not to trust themselves.”

(via: NYTimes.com)

This first appeared on SmallBusiness.com on May 11, 2016

Photos: ThinkStock

For over 25 years, many of the clients I’ve been fortunate to work with have been marketers at large organizations that sell products and services to small businesses. These marketers have been talented, innovative and smart. Ironically, however, almost none of them have ever run, or even worked at, a small business. Time after time, my colleagues and I have seen how easy it is for these smart marketers to fall into the trap of thinking their small business decision-making customers run something that’s like a big business (an “enterprise”), just smaller. In reality, the people who make buying decisions for small businesses live on another planet in a galaxy far, far away from what the marketers envision.

Big businesses have an operational mindset

A major difference is experiencing a reality of what it takes to get things done at a big corporation: organization and structure. For necessary reasons, large companies are organized in a hierarchy and order based on what I describe as an “operational taxonomy” (borrowing the word “taxonomy” from the approach scientists use to map out classifications and connections). Such a taxonomy enables workers with specialized skills and responsibilities to understand where they fit into an organization by department (finance, marketing, IT, production, etc.), rank (assistant to the regional manager vs. assistant regional manager) or mysterious function (fixer, closer, rainmaker). The operational taxonomy of operations is so dominant among large corporations, it has become the way in which business schools organize academically. A person who has an MBA with a marketing focus has become an expert not only at marketing, but where marketing fits into the operations of a company.

Small businesses have a situational mindset

In a small business, people typically have multiple responsibilities and little perception of operational boundaries. (“Hey, can you help me move this table?” the intern asks the owner.) The flexible structure (translation: structure that looks like chaos) gives rise to what I call a “situational taxonomy.” Small businesses often don’t know, nor care, whether a problem is financial or operational, marketing- or technology-based. They simply know they have a problem that needs a solution. And the solution needs to appear now.

What this means if you sell products or services to small businesses

Except for skills and knowledge related to their industry or market niche they serve, a small business owner is typically a generalist when it comes to business operations. Often, we don’t always know what we don’t know.

Unless your product or service is tied to a specific profession or industry, when you describe it to a small business customer, don’t use the language of a big business (or “enterprise”). Don’t talk about features or use acronyms or technical specifications. Talk about the situation a small business owner is likely facing when they are looking for your product. Talk about how your product or service addresses the situation.

Here’s what it’s like when you are a small business owner who wants to buy your product

Imagine yourself at a hardware store asking a clerk if they have one of those thingamajigs that goes with a whatchamacallit. That’s what it’s often like when a small business customer needs your product. We just don’t know the name of your product, or even the category of product you may consider it.

A small business owner or manager wears many hats throughout the day. If you can find a way to help a small business customer understand how your product or service can enable them to wear one less hat, you’ll have a better chance of generating sales and starting a long-term relationship.

(Note: A version of this article by Rex Hammock, founder of SmallBusiness.com, first appeared in Idea-Email, the “un-newsletter” of Hammock Inc., the direct-to-customer media and content company and host of SmallBusiness.com.)

]]> https://smallbusiness.com/make-sell/seven-words-to-avoid-when-pitching-your-product-or-service/ Tue, 19 Feb 2019 20:57:52 +0000 https://smallbusiness.com/?p=34522

No matter what your job title says, if you are owner of a small business, an important part of your job will always include selling. Be ready for a pitch when someone asks, “What does your company do?” And beware of the seven words you should NEVER use if you want to make a sale. Here they are:

“Just” 

For some reason, a burst of humility occurs when some people talk about their product or service. “We’re just a…” does not sound humble, it’s sounds like you are apologizing. “I’m just calling …” does not sound like a phone call opening that anyone wants to continue. Tip: Just drop the word just.

“Probably” 

No matter how you say it, or in what context, saying “probably” sounds like you are avoiding something. Tip: If you don’t know for sure, say, “I will research that and get back with the information immediately.”

“Maybe” or “May” 

As with “probably,” these words make you sound as if you’re afraid to commit. People want you to express confidence in your product or service. They want you to tell them something “will” do something, not that it “may.”

“I’ll have to …” 

Whenever a potential buyer can put you in a position where they can move away, you’ve likely lost the chance for a sale. “Having to” do anything is a pause in the sales process that allows the prospect to disengage. Tip: Say instead, “I’ve added that to the items I will immediately track down and provide you.”

“Expensive” 

Even people who purchase expensive things want to believe they are getting great value for their money. Tip: Focus on value, return on investment and outcome.

“If” 

Listen to yourself the next time you’re pitching new business. Hear yourself when you say, “If you select our firm.” Tip: Say it this way, “When you select our firm.”’

“Want” 

Too often when selling, we refer to the reasons to purchase a product in terms of “wants,” as in, “I know you want a better way to catch a mouse.” Tip: Say “need” instead of “want.” “You need to keep your children away from the diseases spread by mice, therefore you need our better mousetrap.”

Gettyimages

If you have an Instagram account with thousands of followers, is it legal to accept money from a product in exchange for featuring them in a post? Is it okay for you to pay a blogger for publishing a positive post about your business? In the U.S., enforcing advertising laws and regulations — and answering questions like those — is the responsibility of the Federal Trade Commission (FTC). Below, we’ve collected links to several resources from the FTC that provide guidelines for small businesses related to advertising laws and regulations. By the way, here are the answers to the questions about paid posts on Instagram and blogs: It’s legal, but only if it is disclosed clearly to the reader or user that the post is a paid sponsorship. 

Three basic “truth in advertising” guidelines

• Advertising must be truthful and non-deceptive
• Advertisers must have evidence to back up their claims
• Advertisements cannot be unfair

Additional laws apply to ads for specialized products like consumer leases, credit, ads with a 900 telephone number, and products sold through mail order or telephone sales. State and local governments also regulate advertising, and enforcement is usually the responsibility of a state attorney general, a consumer protection agency or a local district attorney.

Resources and guides to help a small business comply with federal advertising laws

General Information

• Advertising and Marketing Information for Small Businesses (FTC)Provides information and guidance about how to comply with laws covering truth-in-advertising, marketing, and product labeling laws and regulations. The site also includes information on specific types of products and services.
• Frequently Asked Questions: A Guide for Small Business(FTC)Offers answers to common questions about truth-in-advertising laws, unfair practices, and rules that apply to specific products and types of advertising.

Pricing Rules

• Guide Against Deceptive PricingOffers guidance on how to comply with laws regarding comparison and bargain pricing.
• Guide Against Bait AdvertisingExplains how to avoid illegal bait and switch tactics when pricing products.
• Guide Concerning the Use of the Word “Free” and Similar Representations (PDF)Documents the proper ways to advertise “free” items, such as “buy one, get one free” promotions.

Endorsements and Testimonials

• Guide Concerning Use of Endorsements and Testimonials in AdvertisingExplains how to advertise using endorsements from customers, experts, and critical reviews.

State and Local Advertising Laws

Individual states and some localities have also passed specific truth-in-advertising laws. The Consumer Action Handbook

Provides links to state and local agencies responsible for enforcing truth-in-advertising and related consumer protection laws.

Also on SmallBusiness.com

How to Legally Use Endorsements, Reviews & Testimonies in Your Marketing

Americans are expected to spend more than ever on gifts for this year’s Father’s Day (Sunday, June 18, 2017). The biggest share of purchasing will be going to special outings like a ballgame, concert or dinner, according to the National Retail Federation’s annual survey conducted by Prosper Insight & Analytics. Father’s Day shoppers are expected to spend an average $134.75 for the holiday, up from last year’s $125.92. With 77 percent of consumers surveyed celebrating, total spending is expected to reach $15.5 billion.

2017 marks a record year in Father’s Day spending

Total Father’s Day spending this year will be $15.5 billion, the highest amount in the survey’s 15-year history, topping last year’s previous record of $14.3 billion.

What are Dads receiving this year?

(Spoiler alert, Dads. No looking.) The survey found 27 percent of dads would love to receive a “gift of experience” for Father’s Day — and 25 percent of shoppers plan to grant that wish with gifts like tickets to a concert or a sporting event. When dinners, brunches and other types of “fun activity/experience” are included, consumers plan to spend $3.3 billion on special outings, which will be given by 48 percent of those surveyed.

“With shoppers planning to be more generous to dad this year, the personal care category will be one to watch,” Prosper Principal Analyst Pam Goodfellow said. “Planned spending on items like cologne, aftershave and razors rose nearly 20 percent year-over-year, outpacing growth in every other gift category for Father’s Day.”

Where are people purchasing Dad’s Day gifts this year?

When searching for the perfect gift, the survey indicates that discount and department stores will be the most likely place customers will purchase their gifts for Dad, with ecommerce coming in third. While the survey says that only 18.7 percent of customers say they will purchase gifts at “local or small businesses,” the survey also breaks out two categories that likely fall into the small/local bucket: specialty and and special clothing stores.

Charts | NRA.org
Photographs | iStock

The parent company of HomeAdvisor, the home services on-demand marketplace, has announced the acquisition of Angie’s List, the early internet-based home services directory and review service. After the acquisition is completed by HomeAdvisor’s parent company, IAC/InteractiveCorp, the companies will be combined into a new publicly traded company called ANGI Homeservices.

As we’ve reported before, many Goliaths of the internet, including Google and Amazon, are pursuing home services marketplace strategies. Amazon’s is a pure play “uber model” while Google is focusing more on selling Google Ads and marketing support to service providers.

Yelp is testing a “Request a Quote” service. Other companies that have created home services marketplaces include TaskRabbit and ThumbTack. The category has even seen its first heavily backed startup fold: HomeJoy.com (dead link and no joy).

(For an excellent list of home services on-demand market places, see the one created by CB Insights.)

Angie’s List is one of the oldest and best-known internet brands. The company has used TV and radio marketing to push their service beyond the internet.cUnfortunately for the company, as more consumers became familiar with review services like Yelp and Google Business Pages, fewer consumers felt the need to pay for an Angie’s List’s membership. The company scrapped the membership fee, in favor of a freemium model: Members can access reviews for free but pay for subscriptions to services like a personal assistant to gather estimates, hire contractors and schedule jobs.

Even together, the two companies face a challenge: Currently, the businesses to be combined only have 4 percent of the market for home services.

VIA: Bloomberg | HT: Techmeme

From the  Twitter Department of Tweeting Statistics comes this amazing data point: Last year, there were more than 23.5 million Tweets related to #Thanksgiving.* According to the folks at the most powerful 140-character communication channel on earth, the Holidays are a great time for small businesses to use Twitter to reconnect with customers. Here are six ideas Twitter suggests you experiment with leading up to next week’s Thanksgiving Day (and yes, you read that correctly: new week).

| Thanksgiving Tip From Twitter #1 | Connect the moment to your product

Get creative and think of different ways your product can relate to the holiday. Add seasonal hashtags such as #Thanksgiving, #grateful, or #turkey on relevant content to connect your Tweet to the broader conversation. By adding the hashtag, it increases the chance someone interested in the event will engage with your Tweet and discover your business.

We call this a cupucopia! #Thanksgiving pic.twitter.com/MGZkSrekUE

— Sprinkles Cupcakes (@sprinkles) November 15, 2015

Cupcake shop @sprinkles gets creative and features their products in a festive shot.

| Thanksgiving Tip From Twitter #2 | Share tips and tricks

People are looking for content that will help them get ready for the holiday. Highlight your expertise by Tweeting Thanksgiving inspired tips and tricks.

9 Easy Hairstyles Perfect for Thanksgiving Dinner https://t.co/ML5WCnWHQ7 via @ByrdieBeauty pic.twitter.com/2MOpYfQ1y9

— Salon Eva Michelle (@SalonEM_boston) November 24, 2015

Hair salon @SalonEM_boston shared their beauty expertise by Tweeting Thanksgiving hairstyle ideas.

| Thanksgiving Tip From Twitter #3 | Run a contest

Giveaways are an impactful way to increase engagement and gather user generated content. For example, interior design company @NousDecor used a contest to encourage their followers to Tweet photos.

Share your gorgeous #Thanksgiving #tablescape with us @NousDecor for a chance to be featured on our blog! pic.twitter.com/sUymMqZnKz

— NousDecor (@NousDecor) November 26, 2015

| Thanksgiving Tip From Twitter #4 | Tweet your holiday hours

Does your business have different hours during the holidays? If so, be sure to let your followers know.

Happy #Thanksgiving from our CREAM Family to yours!

All CREAM locations will be closed and will reopen tomorrow. pic.twitter.com/wRUttNimvp

— CREAM (@CREAMNATION) November 26, 2015

Ice cream shop @CREAMNATION shows gratitude and updates their community on their holiday hours.

| Thanksgiving Tip From Twitter #5 | Run a poll

Twitter Polls are an easy way to interact with your audience, get creative, and understand people’s opinions.

What was the best part of your Thanksgiving?

— Wrecking Ball Coffee (@Wrecking_Ball) November 27, 2015

Coffee shop @Wrecking_Ball uses a poll paired with emojis to be part of the holiday conversation in an engaging way.

| Thanksgiving Tip From Twitter #6 | Thank your followers with a special discount

Thank your community for their support and build follower loyalty by sharing an exclusive sale, discount, or free shipping.

We’re #thankful for all of YOU! That’s why we’re celebrating with FREE worldwide shipping today. ?? #Thanksgiving pic.twitter.com/rO0Z2gzeMM

— Sigma Beauty (@SigmaBeauty) November 27, 2015

Beauty company @SigmaBeauty thanked their followers with free shipping.

*Source: Twitter internal data

Music is often the special ingredient that establishes the level of quality in your marketing video, podcast, website or presentation. Unfortunately, the laws that determine how various types of copyrighted or licensed music can be used – and how much you need to pay for permission to use it – can be a confusing. This overview just scratches the surface. If you are a professional musician or want to re-sell music, you should seek legal advice from an expert in intellectual property and licensing rights.

How do you want to use the music?

For presentations and podcasts, you most likely are going to use music that falls into one or two categories: Royalty Free and Creative Commons licensed. Sorry to add to the confusion, but music can at times be both royalty free and Creative Commons licensed. Fortunately, that shouldn’t matter in the following explanation. (We will touch a third rarely-used category after describing these.)

| Royalty Free music

The most confusing thing about the term “royalty-free” is this: It doesn’t mean the music is free to use. The term “free” means that you pay only once for the right to use the music in your presentation. In the licensing world (including photography and artwork also), the term “royalty” typically refers to a recurring charge for usage. Royalty free music is very similar to stock photography. In most cases, you are not commissioning the music, you are looking for music that fits the mood or theme of your presentation, video or podcast.

(Note: If you are commissioning music from a friend, you should look at the Creative Commons licensing section below in order to find the license agreement you and the creator want to follow.)

Royalty free music sources

Royalty free organizations operate in ways similar to stock photography companies. Some charge a monthly fee or for a collection of tunes. In most cases, however, the license holder charges per tune.

Sources for free and royalty free music

YouTube Audio Library

If your video is intended for YouTube, you may want to check out the YouTube Audio Libary. Many major artists allow their music to be played with your video because they earn royalties from YouTube for those plays.

Purple Planet

Partners In Rhym

| Creative Commons licensed

Creative Commons is a non-profit organization that was formed in the early days of the web to encourage open-source intellectual property licenses. Creative Commons licenses do not replace copyright but replace individual negotiations for specific rights between copyright owner (licensor) and licensee.

Sources for Creative Commons licensed music

Note: These are just a few sources. And remember, Creative Commons licensed music doesn’t necessarily mean free. You must read the specific license the creator is using to make sure what conditions you must follow. (We’ve explained the various licenses here.) The benefit of Creative Commons has to do with the common licensing approach that makes it easy and free to impliment the types of rights the creator wants to cover his or her work.

CCMixer.com

FreeMusicArchive.com | Check out their license guide, a good description of how Creative Commons licensed music works.

Bandcamp

Jamendo

Magnatune

BeatPick

CASH Music

| Using commercially popular music

(Note: If your video is intended for YouTube, before reading the instructions below, refer to the YouTube Audio Library)

The revenues related to the music you hear on the radio, in movies, on TV and other media channels is typically managed by a “performance rights” organization. The two largest are BMI and ASCAP. They both have categories of licensing and royalties that cover usage on websites, podcasts, and presentations. However, these fees can be quite expensive and are recurring. You can get more information on their websites: BMI.com and ASCAP.com.

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“Scenery is a hollow enjoyment to the tourist who sets out in the morning after an indigestible breakfast and a fitful night’s sleep on an impossible bed.”

Stephen T. Mather
first Director of the National Park Service
(1917 – 1929)

National parks offer stunning scenery and authentic history…and many of the services of a small city to help visitors enjoy their park experience.

National Park Concessions

Food, lodging, tours, whitewater rafting, boating, and many other recreational activities and amenities in more than 100 national parks are managed by private businesses under contract to the National Park Service. The services, provided by more than 600 “concessioners,” gross more than $1 billion every year and provide jobs for more than 25,000 people during peak season.

Learn More

• NPS Commercial Services
• Concession contracts open for competition

Contact

Commercial Services Program
National Park Service
1849 C Street, NW
Washington, DC 20240
(202) 513-7156
e-mail

Contracting and Procurement

National parks have buildings to construct, roads to pave, wastewater treatment plants to operate and leaky roofs to repair. NPS offices purchase furniture, vehicles, office equipment and a host of other products. The National Park Service issues all bids and requests for proposals through the federal government’s electronic business portals.

Learn More

• Contracting opportunities in FedBizOps

Contact

Contracting and Procurement Office
National Park Service
1849 C Street, NW
Washington, DC 20240
e-mail

Commercial Tours

Commercial tour operators may bring groups into national parks but must apply for a permit and pay a fee in advance. Details vary and are available from each park. Use the Park Service online search to find the park’s website – which includes contact information.

Special Park Uses and Commercial Filming

Often, businesses consider national parks appealing settings to shoot commercials or major motion pictures, to photograph models for catalogs or kids for their school pictures (see commercial filming and still photograph information). Couples choose national parks as beautiful wedding venues. The NPS requires permits for activities like these to make sure they do not unduly interfere with park visitors’ access and enjoyment.

Other activities that require special use permits include:

• Special events
• First Amendment activities (rallies, demonstrations)
• Right-of-way permits (utilities, telecommunications, roads)
• Other non-visitor activities on park land

Permit applications are available through each park’s administrative office (and may be available on park websites). Use their online search to find the park’s website,which includes contact information.