7 Wealth Generation Methods for Young People

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Generational wealth is the ability to pass down financial assets to future generations. It's something that many people dream of, but it's not always easy to achieve. However, if you're in your 20s and you're serious about building generational wealth, there are a few things you can do to get started. Here are seven tips for building generational wealth in your 20s: Set financial goals. The first step to building generational wealth is to set financial goals. What do you want to achieve financially? Do you want to buy a house? Pay off your student loans? Retire early? Once you know what you want, you can start to create a plan to achieve it. Opens in a new window www.investor.gov Create a budget. A budget is a great way to track your income and expenses. It can help you see where your money is going and make adjustments to save more. There are many different budgeting methods, so find one that works for you and stick to it. Opens in a new window mint.intuit.com Live bel

14 Killer Selling Strategies [ Tips ] 2020

Recently I was talking to a group of college students regarding a sales career and they asked me what I thought were the best sales tips I’ve ever heard. Here is what I said:

 

In the end, it comes down to these fourteen:

1. It’s not what you say; It’s what your customer believes.

You can have the best sales presentation in the world, but if the customer doesn’t believe your proposition, then you don’t have a chance.  Take the time to engage with the customer.

Ask them sales related questions and let them tell you their wants and needs. Listen to your customers.  Yes, many times they don’t know what their needs are and you’ll have to guide them, but in the end, if they don’t believe it, you don’t have a chance.

 

2. Never go into a sales call not knowing how you’re going to close the sale.

If you don’t know where you’re going, then how will you get there?  The most common part left out of any sales presentation is the close.  Plan for it upfront by developing the strategy and your course of action.

This does not mean you’re only going to use one type of closing technique.  On the contrary, it means you’re going to be ready to close using several different techniques based on what the customer tells you.

 

3. Have a dedicated time set aside either daily or weekly to do your prospecting.

Too many salespeople find themselves spending far too much time doing everything else but prospecting.  If you don’t schedule it and hold yourself accountable, you won’t do it. Sales professionals need dedicated prospecting time.

 

4. Believe in yourself and what you’re doing to help your customers.

Why should anyone buy anything from anybody if the person from whom they are buying doesn’t even believe in it?   There’s a reason why confident salespeople are more successful.

 

5. Show up and show up on time.

More sales are lost because the salesperson either failed to show or failed to follow-through.  It’s a sad comment that something that basic and easy could deter more sales, but it’s a fact.  This is the main reason why when companies are looking for salespeople, I tell them to find candidates who have a proven track record of self-discipline. Keep your sales appointments and follow through.

 

6. Be consistent

Nothing will create more success than consistently taking one step forward each day.  Schedule time on a regular basis to prospect. Don’t prospect only when you have time or business is bad. Keeping the sales pipeline full requires daily attention.

7. Follow-up quickly

More sales are lost due to salespeople failing to follow up than probably any other thing. Fast follow-up is essential at every phase of the selling process from prospecting to closing the sale.

8. Uncover the outcomes the customer wants

It’s not about your product features. Sales success is about what the customer needs. The sooner you can get the customer to share with you what outcomes they desire, the sooner you can make that the focus. Selling is about how you can help the customer win.

9. Use voicemail prudently

How long should your voicemail be? Voicemail messages shouldn’t be longer than 14 seconds. Be brief, be confident, and most of all, make the message about them. 

 

10. State your price with confidence

More discounts are given away because the salesperson doesn’t believe in their own price than due to the demands of the customer. When giving your price, make sure you have solid body language, a strong voice, and good eye contact. After stating your price, remain silent.

11. Know how to use your own time

The most valuable asset you have as a salesperson is not what you sell; it’s your own time.  Far too much time is wasted preparing to sell, thinking about selling, getting ready to sell, etc.   You have one objective — spend as much of your time in direct contact with customers as possible.

12. Don’t spend time with people who aren’t motivated buyers

It might be a prospect who is nothing more than a suspect or someone who is merely easy to talk to, but the issue is the same — wasted effort.   The sooner you qualify the person you’re speaking to, the better off both you and the prospect will be.

13. Accept full responsibility. Never make excuses.

If you want to make excuses, that’s fine, but while you’re at it, go ahead and make another excuse as to why you’re not successful as a salesperson.

14.  Be goal-driven and personally motivated.

Don’t wait for others to motivate you. They can’t.  Only you can motivate yourself, and one of the easiest ways is by setting goals you know you can achieve and allowing your success to propel you to more success.

Choose today to strengthen your selling skills with these sales tips. In all my years of selling, these are the ten tips I return to again and again.

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