BC ENTREPRENEURSHIP
Saved by @Jacobtldr

How To Have An Amazing First Meeting (thread).

Learning how to hold amazing first meetings with prospective clients is the single most important "sales" skill a real financial planner can learn.

Here's what I've noticed is important.

 Start with getting your head straight.

All the tips and tricks in the world are just hacks without the right mindset.

There are 3 shifts to make:
Mindset 1:

Desperate ---> Confident

No one wants to work with a desperate advisor. The purpose of a great first meeting is for the prospect AND YOU to decide if it's a good fit.

Believe that and it will change the way you think, feel, and act.
Mindset 2:

Salesperson ---> Doctor

I love sales...but the purpose of the first meeting is NOT SALES. It's understanding. You CANNOT write a prescription before you diagnose.
Mindset 3:

Numbers ---> Feelings

You might think you're in the spreadsheet and calculator business, and maybe you are...but you're also in the feelings business.

People need to be heard in the first meeting. Make room for that. Plan on it. Create it.
Everything in the first meeting needs to be viewed through the lens of those 3 mindsets.

Make those shifts.

Write them on a sticky note to remind you. If you find yourself lacking confidence repeat them like a mantra.

Now for The 7 Principles of a first meeting.
Principle 1: Give prospects permission to relax.

They've come to talk about money, and they expect you to steal it from them (because #theindustry). Give them the opposite experience. Empathetic. Understanding.

Everything about the experience should allow people to relax.
Principle 2: Clarify where are you going.

Provide a roadmap, agenda, signposts, or map. Let them know the process. People like to know there won't be surprises or a bait and switch.
Principle 3: Be human.

This should come natural (get it?) but we forget sometimes because we're so focused on some agenda. So focused on "closing" that we forget to be open.

Be nice. Ask questions. Treat people like you would like to be treated.
Principle 4: Learn to listen

I know, I know...you already know how to listen. Can I be direct?

NO YOU DON'T.

Almost none of us do. It's a skill. It's so rare that I bet you can't remember the last time you felt like someone was truly listening.
Principle 5: Go deeper.

The first answer is never the THING. The THING is deeper. The first meeting is a non-destinational exploration. Follow the clues. Ask follow-up questions. Be curious.
Principle 6: Engage the 55/5 rule.

In a one-hour meeting see if you can be talking for 5 minutes. Guess who is talking for the other 55 minutes...? That right, the hero of this story...the POTENTIAL CLIENT.
Principle 7: Record and learn.

We have all had the experience of watching a movie the 2nd time and noticing super important stuff we missed the first time.

Ask for permission and then record your first meeting. Then review it. Painful but powerful lessons will result.
I have intentionally left out specific tips or tricks.

If you know the principles you can figure the rest out.

Need questions to ask: google it.

What an agenda looks like: guess.

You CAN DO THIS!

The people need you!

More from Entrepreneurship

David Mendes
David Mendes
@YouActualized
THREAD - 10 lessons I learned the hard way over the past year

On entrepreneurship, relationships and personal transformation:

his past year has been wild for me

By this time last year, I was a Portuguese 9 to 5 wagie working in a cubicle 9 hours a day for €650 a month

These days I make +10x that on the Internet

There have been ups and downs

Wins and losses

But some very valuable lessons learned along the way

I’ll now share these with you in hopes you can make some practical use out of them

Enjoy

1 - It’s supposed to be “hard”

The first lesson that I learned on this journey that ironically made everything else easier

Look

Any fulfilling, meaningful venture you pursue will be intense

It’s supposed to be

It’s intense for everyone

It’s something that’s not exclusive to you

You’re not special

Nobody is

“Hard” or “intense” is what makes gives life to life

“Hard” is necessary for you to push through your own barriers and evolve as a human
ENTREPRENEURSHIP
Freedom Designer
Freedom Designer
@FreedomDSGNR
How to Price Your Services in a Way You Don't Get Busto

// A THREAD //


Whether you're a full-time freelancer or you just want freelance on the side you have to know your price so you don't get busto.

We will discuss the three most common ways how to price your services:

- Hourly rate
- Project rate
- Service as a product

But basics first.


Don't think about the price as a one-night-stand.

Rather build a very close relationship with it.

It:

- helps you to increase/decrease demand
- gives hints about how good/bad your service is
- positions yourself on the market

Know how to use this tool.


Cheaper ≠ Better

Imagine someone selling you a car for $350.

What would you think about it?

Exactly.

Set the fair price, not the scam inducing one.

The cheap price will bring you a specific sort of people.
- to be polite.

So always compete with quality, not price.


1. Hourly rate

This is the most straightforward way how to set your price.

How to set it?

The basic equation may look like:
[Monthly target profit ($) + All costs ($)] / no. of billable hours in a month

PS. Even if you're starting out don't get much lower under this price.
ENTREPRENEURSHIP
Advertisement
Mitchell Baldridge
Mitchell Baldridge
@baldridgecpa
Owning and operating a SMB is the best tax deal in America.

—

Whether you have a $10,000 side hustle or $10MM enterprise, earning business income opens up amazing opportunities for tax savings and wealth creation.

Let’s walk through how it works
(thread below ⬇️)

Expenses -

Business income opens up an opportunity that W-2 employees do not enjoy - bonafide business expenses.

Of course direct costs incurred are deductible, but many expenses exist in your life already. When you have business income you get to spend them before tax.

Most employees are running a no deductible office at home - now claim business phone bills, home office utilities, dues, travel, education and legal that you spend regardless.

The other deduction opportunity is business use of your personal assets including auto and home use.

Employment taxes -

Another great saving is employment taxes through and S-Corp and set salary.

Taxpayers are given the ability to bifurcate their employment from their ownership and pay a reasonable salary, often times saving thousands in employment taxes.

Benefits -

Also in a SMB the owner has ability to provide benefits including medical and retirement, particularly the business is a solo enterprise.

Medical reimbursement plans, SEPs, 401ks, DB Pensions offer potentially hundreds of thousands in tax savings & deferrals.
ENTREPRENEURSHIP
Isaac Souweine
Isaac Souweine
@sonofsarah
Giving a talk on goal setting and OKRs this morning @Montrealinc.

Presenting it as a thread here to get more leverage on it and to think out loud. Here goes! 👇

1. Goals are strategy in action. Strategy is your plan to win. Goals turn that strategy into measurable tasks that can advance you toward winning.

2. Goals help you win by forcing you to prioritize. There are lots of ways to win. Some are more immediate than others. Goals force you to choose the most important things to do now.

3. Goals help you win by creating alignment. Not everyone has the same idea of how to win. Goals force everyone to agree on a single plan.

4. Goals help you win by creating accountability. There’s lots to do in a startup and its easy for things to slip and slide. Goals help enforce clear ownership.
ENTREPRENEURSHIP
Joel Blake \U0001f3ed
Joel Blake 🏭
@joelrandyblake
Search-funders and SMB buyers with sales experience are starting on second base.

Thread on how sales abilities improve your success odds in acquisition entrepreneurship:

1. SMB Deal Sourcing ~ SALES PROSPECTING

In order to buy a SMB, you need to see hundreds of candidates. How do you do that?

Like in Sales, you have two main prospecting avenues:

1. Inbound - Advertise or network with SMB professionals in your target market, e.g. business brokers / SBA lenders / CPAs / lawyers.

2. Outbound - Find and contact owners of SMBs that fit your criteria to see if / when they want to sell.

Inbound is nice because the opportunities come to you. But they might be few and far between.

Outbound is grunt work, i.e. "Dialing for dollars." Because of this (not in spite of it), outbound has advantages:

- More opportunities.

Higher-volume deal flow → better odds of a successful acquisition. Remember, it only takes one.

- Less competition.

Educated people shy away from grunt work. Your willingness to sweat will be rewarded with buried treasure (off-market deals).
ENTREPRENEURSHIP

You May Also Like

KrishnaLeela
KrishnaLeela
@Talesofkrishna
🌿𝑻𝒉𝒆 𝒔𝒕𝒐𝒓𝒚 𝒐𝒇 𝒂 𝑺𝒕𝒂𝒓 : 𝑫𝒉𝒓𝒖𝒗𝒂 & 𝑽𝒊𝒔𝒉𝒏𝒖

Once upon a time there was a Raja named Uttānapāda born of Svayambhuva Manu,1st man on earth.He had 2 beautiful wives - Suniti & Suruchi & two sons were born of them Dhruva & Uttama respectively.
#talesofkrishna https://t.co/E85MTPkF9W


Now Suniti was the daughter of a tribal chief while Suruchi was the daughter of a rich king. Hence Suruchi was always favored the most by Raja while Suniti was ignored. But while Suniti was gentle & kind hearted by nature Suruchi was venomous inside.
#KrishnaLeela


The story is of a time when ideally the eldest son of the king becomes the heir to the throne. Hence the sinhasan of the Raja belonged to Dhruva.This is why Suruchi who was the 2nd wife nourished poison in her heart for Dhruva as she knew her son will never get the throne.


One day when Dhruva was just 5 years old he went on to sit on his father's lap. Suruchi, the jealous queen, got enraged and shoved him away from Raja as she never wanted Raja to shower Dhruva with his fatherly affection.


Dhruva protested questioning his step mother "why can't i sit on my own father's lap?" A furious Suruchi berated him saying "only God can allow him that privilege. Go ask him"
RELIGION
Jaya_Upadhyaya
Jaya_Upadhyaya
@Jayalko1
KANIPAKAM VINAYAKA, CHITOOR (AP)
#bharatmandir

Kani means wetland and Pakam means flow of water into wetland.
Kanipakam Vinayaka is swayambhu (self-manifested). The murti is in a well which is always full of water.


Once, there were three brothers. Each one had a handicap- Dumb, Deaf and Blind. They had a small piece of land for livelihood. For their field, they drew water from a well. One day, they found that the well had dried up so one of them started digging in the well.


His tool hit something and blood oozed out. They found a swayambhu murti of Ganesha here.
Villagers started offering coconut water which overflew into a channel. Hence the name Kanipakam.


The murti is still growing in size. At present, we see the knees and the abdomen only. The Kavacham (Armour) offered to Vinayaka 50 years ago doesn’t fit today.
Vinayaka is believed to be the upholder of truth. So people come here and swear before him to prove their innocence.
ALL
Advertisement
Sumit Grrg
Sumit Grrg
@sumitgrrg
These 10 threads will teach you more than reading 100 books

Five billionaires share their top lessons on startups, life and entrepreneurship (1/10)


10 competitive advantages that will trump talent (2/10)


Some harsh truths you probably don’t want to hear (3/10)


10 significant lies you’re told about the world (4/10)
ALL , MOTIVATION , BOOKS
sriram \U0001f1ee\U0001f1f3
sriram 🇮🇳...
@SriramKannan77
Saptapadi

The most essential rite (Sanskrit: rītī) of a Hindu marriage ceremony is Saptapadi (English: seven steps, saptapadī). Saptapadi is a Sanskrit term that means "seven steps." The wedded couple walks seven steps after tying the Mangalsutra, which is known as Saptapadi.


The couple legally becomes husband and wife after the seventh step.
Hindu wedding rituals: During Saath Phere, the bride and groom exchange their marital vows while circumambulating (walking around) the sacred fire seven times.


This is because the bride and groom exchange marriage vows and hope for a happy married life together.

1. The first marriage vow, out of seven, is a petition to the Lord for nutrition and nourishment for the Hindu bride and groom.


2. Hindu Bride and Groom: The second marriage promise is for strength in sickness, health, good times, and terrible times.

3. For the Hindu Bride and Groom - The third marriage promise is for the Hindu bride and groom's prosperity.

4. For Hindu Bride and Groom - The fourth pledge is to stand by their families in good times and bad.
ALL
Khatvaanga
Khatvaanga
@khatvaanga
Starting my 2nd thread on Sringeri Parampara. This will cover the Jagadgurus after Sri Vidyaranya to Sri Shivabhinava Nrisimha Bharati.

It is really very tough to match the brilliance and achievements of Vidyaranya. After whom came 15 - Chandrashekara Bharati [1386-1389].

The next Acharya was Nrisimha Bharati [1389-1408]. Harihara raya found a town for this Acharya - Narasimhapuram. Acharya helped the king by guiding him in political affairs. He also initiated the kind with mahamantras for spiritual development.

Subsequent Acharyas were
15-Puroshottama Bharati [1408 - 1448]
16-Shankara Bharati[1448 - 1455]
17-Chandrasekhara Bharati II [1455 - 1464]
18- Nrisimha Bharati II [1464 - 1479]
19-Puroshottama Bharati II [1479 - 1517]

20-Ramachandra Bharati [1517 - 1560]. Sadashiva Raya was emporer of Vijayanagara during this time.
21-Nrisimha Bharati III [1560 - 1573]
22-Nrisimha Bharati IV [1573 - 1576]
23-Nrisimha Bharati V [1576 - 1600]

24-Abhinava Nrisimha Bharati [1600-1623]. When he visited Malahanikareswara temple for first time he noticed there was no Vinayaka there so he took piece of turmeric and drew outline of Ganesha on a pillar and offered puja.
ALL