Why a Business Owner Needs a Buy-Sell Agreement

A Buy-Sell Agreement is a legally binding agreement between partners or co-owners that eases resolution if one person dies, becomes disabled, or leaves the business, preventing infighting among family and co-owners.


A business client came into my office the other day with a problem that could have been avoided if he'd had a buy-sell agreement.

Let's call my client Max. Max’s business partner owned half the business. The partner died, leaving behind a wife and two adult children.

Max had always gotten along with his partner's family. But he never had any business discussions with them. A few months after the funeral his partner’s wife called asking questions about the business. His partner’s children also called asking questions. They all claimed to be co-owners of the business according to his partner’s estate plan. They either wanted money to buy out their shares or they wanted to make important decisions about the company’s future.

“I don’t have money to buy their shares in the business.” Max said “So, am I really in business with my partner’s family now?” The answer was difficult to take. Without money on hand to buy out the shares, Max was indeed in business with his partner’s family. Max wasn't happy.

That leaves us with two questions. What are Max's options now, and how could he have avoided this mess?

What Is a Buy-Sell Agreement?

One of the most crucial documents for a company with multiple business owners is a Buy-Sell Agreement. A Buy-Sell Agreement is a legally binding agreement that governs what happens when a partner or owner of a business either dies, becomes disabled, is forced to leave the business or chooses to leave the business.

A buy-sell agreement can provide liquidity for dealing with these major events in a business. It also helps to avoid infighting among family members, co-owners, and spouses.

For Max, having a buy-sell agreement could have answered the following questions after his partner died:

  • Is my new co-owner my deceased partner’s wife and kids?
  • Do I have to buy them out?
  • If I have to buy them out, what amount do I need to pay them?
  • If I need to buy them out, where does the money come from?
  • Can they sell their interests in the business to my competitors if they need money?
  • Can I start a new business or do I have to stick with the old one?

How Does a Buy-Sell Agreement Work?

A buy-sell agreement legally binds people who sign it and their heirs as well. That means any co-owners wives, children, and other beneficiaries are also bound by terms of the agreement. The agreement can also establish a manner of valuing the business for buy-out and purchase purposes, so there are no disputes as to how much money needs to change hands.

How is a Buy-Sell Agreement Funded?

A life insurance policy is generally used to fund a buy-sell agreement. When someone dies, insurance money flows into the business. The money is used to purchase business interests from heirs of the deceased co-owner. It also provides enough money to stay afloat during the transition. Finally, it ensures the business interests stay in-house and the original owners can control with whom they partner.

Are There Any Options?

There are many different types of buy-sell agreements. They can address many issues such as disability and retirement, beyond just death of an owner. An estate planning and business attorney experienced in drafting buy-sell agreements can help you choose and draft the right type of agreement for you.

Who Needs a Buy-Sell Agreement?

For any business owner in business with others, an updated buy-sell agreement is an absolute must have. Just like many other legal issues in business, if you prepare in advance, you are better off when something unforeseen happens. If protection for your business and family is important to you, act now before it is too late.

Brian G. Quinn is an Attorney with the law firm of Quinn & Banton, L.L.P. in St. Louis, Missouri. If you are interested in learning more about protecting your business using legal strategies, please feel free to contact Brian at 636-394-7242 to schedule a consultation.

The Biggest Problem with Most B2B Sales Efforts and What to do About it

As a business leader, you’ve been “sold to” many times.

Pitched, proposed, approached, and marketed to…whatever you want to call it.
Your guard is up, and it takes a special approach to get you to lay it down.
Yet, are you using these exact same tactics in your business?

Here's the problem that most B2B companies have with selling; it's largely viewed as a transactional effort where you are selling benefits, features, and value.

What Sales Looks Like For Most B2B Organizations

You’re out there canvasing the market, knocking on doors, making calls, sending emails and promoting your message.  These are all outbound marketing and direct sales efforts, and they have a definite place.  But they also will not work for a large percentage of your target market.
It takes a refined system of targeting, outreach, and persistent follow up to get maximum results from outbound sales efforts.  Most B2B companies struggle to do it well, consistently.  Thus, results are far less than optimal.

You don’t have a relationship with your prospects, and you rely solely on the quality of your marketing materials and message to get opportunities.

What Sales Looks Like For Advanced B2B Marketing Operations

The companies generating the greatest returns are building communities around their brands.
They don’t start with a cold call.  They don’t start with a direct mail piece.

The first thing these companies do is invite their prospects to join a branded community of industry thought leaders and resources.  They invest resources in establishing their brand as a leader, by developing engaging online and offline communities that offer true value to their prospects and key industry partners.

Over a number of months, prospects become so familiar with the generosity of the brand they feel like great friends with the people running these communities. Through numerous touch points over a short amount of time, the company establishes itself as one of the good guys and can build real relationships with targeted prospects.

What Are These Communities?

These communities can come in many forms, and depends on the strategic focus of your company.  More specifically, who are your prospects?  Build a community they will love.

The community could be a local networking group specific to their industry. It could be a career network for the kind of people you target.

Your community could take the form of a LinkedIn group, or a private Facebook group.  It could be a private online forum, on a branded website you develop.

There are many options.  For brands that invest first in building these relationships, the sales process changes dramatically.

What Does This Do to Sales?

When you establish yourself as a true resource and friend, business almost takes care of itself.

The need for direct mail is greatly reduced.  Cold calls are always warm, welcomed calls. You’re not pitching somebody, you’re helping a friend discover a valuable solution for their business.

You don't need to invest as much in sales resources because your marketing is increasing the effectiveness of your sales team.

It's a complete paradigm shift in the way you sell, because of the engagement your marketing activities generate.

Sales go up.  Cost goes down.  And client retention increases as you build real, valuable relationships with your prospects.

The Psyche of Cold Calling Prospects

Cold calling and telemarketing are one of the strong tools in the “marketing tool box” most owners and sales people need to address. Cold calling is ONE of the main mechanisms to the successful sales person. It is important to realize the phone is your best friend, not the enemy. Calling is a means to an end; to take you from point A to point M eating!

Strategic skill sets include; being disciplined, having persistence and topping that off with consistency equals the KEY to your BREAKTHROUGH every time.

What you do on a daily basis has a huge impact on your future sales. Your attitude determines your altitude. (How high you fly)

The decisions you make about cold calling, guide your direction, which determines your destiny.

“There are no secrets to success. It is the result of preparation, hard work, learning from failure.” Colin Powell.

Sales Rule of Thirds

As a sales person or business owner, make sure you comprehend the sales RULE OF THIRDS.
You get 1/3 of your sales, no matter what you do. And 1/3 of sales you are not going to get. It is the last 1/3 of the sales which are up for grabs, and where excellent sales people separate themselves from mediocre sales people.

Leveraging the last 1/3 of the sales process and knowing you are the person responsible for making things happen requires you take goal oriented action to increase your sales.

A Look at the Psyche of Cold Calling 

Sales people typically see cold calling as scary, unpleasant, boring, repetitive, pressurized, confrontational, getting rejections, and demoralizing.

Let’s look at how prospects see cold calling done poorly. They view it as a nuisance, unwanted, dishonest, tricky, shifty, contrived, unprepared, indiscriminate, insulting and patronizing.

Now adopt a new perspective and reverse your mindset. Let’s look at what successful cold calling really means. It should be straight forward, honest and open, interesting and helpful, thoughtful and reasoned, professional and business like, enthusiastic and upbeat, informative, thought provoking, along with credible and reliable.

Read the above psyche areas over and over, understand what YOU view cold calling as to your personality. Then realize what the prospect feels on the other end of the phone, and make cold calling the success side it needs to be to generate meetings that result in proposals, that pump up the sales that make you money. Be a winner on the phone and don’t let cold calling slow you down. Have an attitude of “I am the best caller on my sales team”, and be passionate about conversing on the phone, sharing your smile, happiness and confidence which plays through the phone, then the prospect respects your call and in return sets up that meeting!

“The winners in life think constantly in terms of I can, I will, and I am. Losers, on the other hand, concentrate their waking thoughts on what they should have or would have done, or what they can't do.” Dennis Waitley

Be the best at your sales craft, study the psyche of cold calling, focus on what the prospect will be excited to hear in your sales pitch, and GAIN that last 1/3 of the sales you are due, never looking back, only moving forward to the next phone call to repeat the winning process over and over and over again!

John Eyres, President of Business Connections Consulting, works with many sales people and business owners to sharpen their cold calling skills and better understand the process of telemarketing. John resides in St. Louis, MO and can be reached via phone at 314-495-2089 or email;johneyres@busconcon.com.

Imagine a Workplace with NO Gossip!

“Be impeccable with your word:  Speak with integrity. Say only what you mean. Avoid using the word to speak against yourself or to gossip about others. Use the power of your word in the direction of truth and love.”

Miguel Ruiz, Author of The Four Agreements

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Do Customers Control Pricing?

“What consumer wouldn’t rail against that kind of arrangement?”

The CEO of a staffing firm asked what I did for a living. When I told him that I help companies get higher prices regardless of what their competitors or the economy are doing he said “That’s great if you’re in an industry where you control your pricing. Our customers control our pricing.” A few weeks later I saw an article in stltoday.com entitled Could medical pricing transparency control runaway costs? The article cited the fact that healthcare consumers are bearing more of the cost of healthcare in the form of higher co-pays and deductibles. The article went on to suggest that United Healthcare’s new online cost estimator could allow healthcare consumers greater control over the prices they pay for healthcare.

Are these new trends in pricing? Has control shifted to consumers? These are the questions were going to explore today.

New trends?

There are movements afoot that are driving providers away from their traditional pricing models. In some instances the change is long overdue. In others buyers are completely unrealistic in their expectations.
The legal profession is being pushed to a fixed fee pricing model instead of the their hourly rate model. The only surprise here is that it has taken so long for consumers to press for this change.

In essence, the hourly rate model has basically said to the consumer “You have to take all the risk. We don’t know what the outcome will be, how long it will take or what the total cost will be, but here’s what you’ll be paying per hour.” What consumer wouldn’t rail against that kind of arrangement?

On the other end of the spectrum I know of one Fortune 500 company that has demanded to see its vendor’s costs so that they can assess whether or not they’re getting a fair price. The vendor is also a Fortune 500 company.

That’s over the top. Why would you want to penalize an efficient company for being efficient? That’s exactly what would happen if the customer knew the vendor’s costs. The customer would take the cost and add what they felt was a ‘fair’ margin to it which has the effect of penalizing their more efficient vendors. That’s crazy. We need to incentivize efficiency both for our own welfare and for competitive advantage in the world economy.

Has control shifted?

The short answer is ‘not really.’ In the case of the legal profession consumers are simply pushing for more transparency, more predictability in the pricing. There will still be buyers who will pay multiples over the lowest price alternatives to get the ‘name’ firms, the political connections they have or to create the image of success that comes from using the most expensive firms available.

Similarly, United Healthcare’s push is designed to help consumers become more aware of what their options are so they can make an informed decision. The consumer will still choose a higher priced alternative based on other factors like speed of access, care and concern of the physicians, nurses and staff, convenience of location and the provider’s reputation in the market place.

It’s no different than buyers choosing Walmart over Nordstrom or vice versa. Each buyer places a value on the products/services they’re buying. Some are very valuable to them and they’ll choose the top of the line because it is important. Others are necessities they’d just as soon avoid, consequently they’re going to choose the lowest-priced alternative.

I’m sure you’re wondering about the staffing company’s CEO’s claim that customers control his pricing. That’s absurd.

Without realizing it this CEO is, in essence, saying that he doesn’t see the difference between what he’s offering and what his competitors are offering. If he saw a difference he’d be able to communicate it in a way that would help buyers decide whether or not it was important to them.

Because he can’t see the difference, they can’t either. That simple reality explains why he feels he’s at his customers’ mercy when it comes to pricing. Indeed, it’s why any business, in any industry, feels trapped by industry pricing.

The seller doesn’t understand how his offering is different than his competitors or he doesn’t know how to convert that value to dollars and cents. Either way, the buyer doesn’t have the information he/she needs to make an informed decision. The result is the consumer pushes for lower prices.

Sellers can control pricing as long as they:

  1. Provide value that their competitors don’t.
  2. Communicate that value effectively in their marketing materials and sales scripts.
  3. Price in a way that reflects that value.
  4. Understand which buyers value what they offer and why they value it.
  5. Target only those buyers who value what they offer.


Consumers will make their decisions based on the information the seller provides and what’s important to them within the context of the lifestyle they’ve chosen. It’s their choice where they spend their money, the seller controls the price.

The first step in gaining control of your pricing is to make sure that prospective customers know what to expect from your products and services. To help you communicate that message more clearly I’ve created an ebook, Brand Promise: What Do YOUR Customers Expect?

Separate Prospects from Suspects to Sell More and Suffer Less

Bill succeeds because he separates prospects from suspects... He speaks to people who view him as a welcome guest, not an unwanted pest.

I once worked with a sadistic guy named Ken who loved to punish the door-to-door salespeople who visited our office. If he was in a good mood (not often), Ken would gently point to the "No Solicitations" sign on our door, and say, "I'm sorry. We don't allow door-to-door sales. Go peddle your stuff somewhere else." Even when sounding calm, Ken was mean. If Ken was in a bad mood (usually) or if the "peddler" did not leave immediately, watch out! I heard Ken verbally abuse a water cooler salesman in ways that would make the saltiest sailor blush. I once saw a copier salesman dash from our office after Ken threatened to "shove that toner cartridge..." You get the idea.

We eventually fired Ken because of how he treated vendors, coworkers and clients. While we did not condone his behavior, we also did not sympathize with those sales people who invited the wrath of Ken. Every time they fled from our office, I thought, "Why do they put themselves through this?" Cold calling every name on a list or knocking on every door on every floor is an uncomfortable, unproductive way to make a living.

Compare that to Bill, a copier salesperson who called me last month. I met Bill a few months earlier at a networking event where we exchanged cards. He asked whether he could add me to his mailing list (he did not assume my permission just because I handed him my card). I received one email a month after that.

When Bill called, he said, “We met a few months ago and you’re on my email list.” I remembered him, of course. I had received his most recent email just two days earlier. The conversation proceeded with ease and ended with a meeting scheduled.

When we met, I asked Bill why he chose to call me on the day he did. “Because you’ve been reading and clicking on my emails,” he said. Bill explained he no longer goes door to door or makes call telephone calls. Instead, he establishes relationships with people through networking, referrals, web site inquiries, and other methods – in all cases inviting his new contacts to join his email list. He sends regular emails that offer office automation tips and other useful content – not just product pitches. And he uses email software that tracks who opens and who clicks. Those engaged readers are the prospects he telephones or visits.

In a fraction of the time, he schedules more appointments and ultimately makes more sales. And he does not have to face sadists like Ken who love to abuse cold-callers.

Bill succeeds because he separates prospects from suspects. He schedules more meetings with fewer calls because he speaks to people who view him as a welcome guest, not an unwanted pest.

Had Bill been a stranger who appeared at my office uninvited, I probably would not have spoken to him. Had he simply collected my card at the networking event and then called me (without engaging me through his emails), I probably would have pushed him away. Had he called on me even if I never opened his emails, I might not have remembered him and I certainly would not have known how much value he could offer.

Instead, Bill called on me only after he knew I was engaged. I had opened his email. I had clicked the link. I knew him. I showed interest.

Your time is precious. When you call on people who don’t know you and view you as a pest, you usually waste that precious time. Rather than wasting time calling on the suspects, spend some time to identify and cultivate true prospects.

There are many ways to do this. As Bill demonstrated, delivering valuable, engaging content via an email newsletter is a very effective way to do it. But how do you start? How do you plan and deliver an email newsletter that people will open and click? I answer those questions in this article in the e4e Academy.

Six Reasons to Factor Your Invoices

Many business managers view the “factor” as the lender of last resort, a sort of leverage only to be used when other lenders refuse to extend credit.   Unfortunately, this attitude arises from a lack of knowledge and is an obstacle to the success and full potential of many businesses.  Today, most businesses factor due to the accessibility and liquidity factoring provides as they sell their credit-worthy receivables for needed cash.

In the fifteen years of operating my factoring company I have discovered my clients rank the most important benefit of factoring is the ability to quickly raise cash when their business cannot get a traditional bank loan, or when a company is experiencing rapid growth and needs to purchase materials, pay vendors and cover operating expenses.   I have been amazed at the reaction of my clients when I explain factoring, how it can help them, and how quick they can get their company funded.  The smile just radiates from their faces as they discover all the benefits of factoring. Because it’s a dynamic financial tool that enables them to continue to make sales, accelerate and stabilize cash flow, businesses across the world continue to use this powerful tool.

There are a significant number of reasons why companies should consider factoring.   Here are six.

1.  Factoring is an extremely fast way for companies to raise money.   A factoring deal can be done in only a few days, or even sooner.   A company can have cash in hand in a very short amount of time.   As soon as the invoice is generated and verified, money can be advanced to a business desperate for cash or looking to quickly expand their operations.

Applying for a loan can take a good amount of time, including receiving word back on whether or not a bank is willing to provide the money needed.   A business may not have that amount of time.   The livelihood of its business may depend on getting money fast.

2   Factoring shortens the collection process.   Businesses often wait weeks or even months before they are paid for services rendered or products delivered.   During this time, many are cash poor and don’t have funds available to grow their businesses or even pay for current operational expenses.

If a company has to wait 30, 45, or even 60 days before receiving payment, its outstanding cash is actually funding the customer’s company.  This money is needed to pay payroll on time, replenish inventory, and buy vendor supplies at a discount.   If an invoice is factored, the company gets most of the invoice amount immediately to use however the business owner wants to or needs to use it.

3.  Factoring is funding without liability.   Banks look at the business assets, how long the company has been in business, the company’s credit score, the owner’s credit score, the balance sheet, and the profit and loss statement.   Today companies that could get bank loans a year or two ago cannot get one now mainly because of our unstable economy, and because the loan criteria has changed.   The company has to have a higher credit score and down payment requirements tends to be much higher.

“It is not about you, it is your client’s credit that matters.”

When a company factors they can get immediate cash with debt.  The factor looks to the credit-worthiness of it’s customer’s for its due diligence, and to see if each customer is paying their bills on time.   Therefore a company can be a new company, have little or no collateral, and may not have the best credit score, yet customer invoices can be factored.  In this way, the company receives cash instead of a loan with all the associated liability.

4.  Factoring strengthens the balance sheet.  As a company is factoring its invoices, its bank account is receiving this money.   The company can now pay its employees and creditors on time, and its taxes on time.   Its vendors are eager to sell them their products and give them discounts because now the company can pay them on time.

Factoring helps businesses become more likely to get that bank loan in the near future because now its credit score is higher since bills are being paid.   Employees are happy because they are paid on time and therefore do a better job and the job gets done on time, making the company more profitable.

5.  Factoring gives peace of mind to the business owner.   When factoring invoices, the business owner does not have to worry about when checks are going to come in so bills can be paid.  He has already received most of the invoice money upfront.   He may be able to cut his accounting department’s staff since the factor now keeps track of the invoice and sees it is paid in a timely fashion.

The business owner now has the time to work “on” his business instead of  just “in” his business.   He has the time to plan new projects and develop new products.

“Factoring is a simple and straight forward business process.   It requires little paperwork, time, and little or no collateral such as hard assets or real estate”

6.  Factoring helps seasonal or service companies.   Payroll and payroll taxes fuel the cash flow needs of temporary staffing agencies, cable installers, security guard companies, and corporate consultants.  Because their assets often consist primarily of accounts receivable, which banks typically won’t lend against, obtaining financing can be challenging.

An Accounts Receivable Credit Line where cash is available “on demand” and there is no restriction on use of funds may be used to better manage and expand these businesses.   Funds can be drawn only as much as needed and the business pays for what it uses.   An Accounts receivable Credit Line uses far less collateral, requires only minimal paperwork, can be in place in a week or less, and best of all, grows with the business.

If you have gone the traditional lending route and had no positive results, why not try the alternative funding option of factoring.   Lexx Funding will help you discover if factoring will solve your cash flow problems.  Call Joy Ann now!  636.458.2612

The Dangers of Cost+ Pricing

In the early years of my consulting work I picked up a client that had been losing money for two consecutive years and was experiencing severe cash flow problems. They were using cost plus pricing. What went wrong?

Defining Costs

They didn’t define their production costs well. They had included some of their production costs in the operating expense category, consequently when they added the traditional industry profit margin to their production costs their prices were too low to cover their costs.

Lest you think this an aberration, I’ve worked with hundreds of companies over the years and most don’t know what their costs are. Why? There are a variety of reasons, some:

Don’t have a clear understanding of how to categorize costs.
Allocate overhead costs to production using subjective, irrelevant bases for the allocation.
Use standard costs which typically include ‘cushions’ to protect the production group from being criticized for cost overruns.

Indeed, one VP of production had included a 60% cushion in his standard costs and no one in finance knew it.

Costing Myth

As if those weren’t enough reasons, Eliyahu Goldratt in his famous book, The Goal, shows that traditional cost accounting drives up operating costs rather than reducing them. His book, It’s Not Luck, demonstrated that the same is true for service organizations.

Finally, and most importantly, production costs have nothing to do with the value to the consumer. That’s true whether you’re selling B2B or B2C. Allow me to illustrate this point.

Cost/Value Not Related

Let’s say that I’m a milk producer. I buy milk from farmers, process it and distribute it through grocery stores. Let’s assume that it costs me $1.12 to produce a gallon of milk. Now, let’s look at the various markets available to me as a milk producer.

Young families will typically place great value on milk because it’s essential for the child’s development. The elderly also have a health issue, osteoporosis, that adds value to milk for them.

Many adults, whose children are grown and aren’t yet concerned about osteoporosis, value milk only if they enjoy it’s taste. For the others in this group, milk has little, if any, value.

For people who are lactose intolerant, milk has no value. Indeed, it’s a health risk for them.
As you can see, the fact that it costs me $1.12 to produce a gallon of milk has no relationship to the value customers place on it.

Hopefully this simple example along with the challenges in defining costs outlined above will be enough to dissuade you from cost plus pricing.

Want to move from cost+ pricing to value pricing? You’ll find the tools you need in Dale’s book, Pricing for Profit. Available online atAmazon.com and BarnesandNoble.com

The Wrong Hero

“There are only three things that any of us sells - image, innovation and time-savings.”

Marketing messages must be great stories... about the true hero.

I wish I could remember the source of the following elegant language. The person certainly deserves credit for this incredible bit of wisdom. After reading a marketing piece, he said ‘that’s a great story, but it’s the wrong hero’.

The marketing piece had discussed the company, not its customers. That’s why it was about “the wrong hero.”

If you want your marketing messages to translate into sales at premium prices, tell stories in which customers and prospects can experience the joy of your offerings - even if they haven’t tried them yet.

One of the fascinating aspects of the human mind is that we can experience emotions as vividly today as when we first experienced them. Tie your offerings to an experience that everyone has had that elicits joy.

Remember, there are only three things that any of us sells - image, innovation and time-savings. So when you’re selling image, help them experience the joy of having others admire and emulate them.

With innovation, make the story about the fun and excitement of playing with the latest, greatest toys or our childhood curiosity when everything was fascinating.

For time-savings, the story highlights the joy of spending more time with family and friends, traveling or just kicking back in a hammock on a beautiful spring day. If you’re selling business to business and the time savings translates into greater revenue-generating capabilities, make the story about the joy of growing a successful business - one that’s the envy of their competitors.

It’s counter-intuitive, but the less said about your company and what you do, the greater the likelihood that your marketing messages will bring buyers through the doors. More buyers, mores sales, at your price. Now that’s an experience that’ll bring a smile to your face.

Not sure whether you’re marketing messages are targeting the right hero? Take this free, confidential marketing self-assessment..

What Could be Better Than Gossip?

Initially about 50% of teams discover they aren’t secure enough or capable of
 ceasing to gossip. The reasons: they 
lack trust, skills, confidence, or compassionate understanding.

“Some say our national pastime is baseball. Not me. It's gossip.”
- Erma Bombeck

“The only gossip I'm interested in is things from the Weekly World News - 'Woman's bra bursts, 11 injured,’ that kind of thing.”
- Johnny Depp

Ah… Gossip’s not called “juicy” for nothing!

Most people agree gossip’s not healthy or helpful and that it’s everywhere! It’s in businesses, schools, homes, even churches! There’s good reason for this. And, in order to build trust and teamwork, gossip needs to go. The question is: how and what would allow people to find something more satisfying instead? I’m Judy Ryan, a Human Systems expert and I work with organizations, helping them understand the good reasons people gossip so they can incorporate new strategies to meet needs met by gossip, by substituting more satisfying practices instead.

Our Current Dilemma

When I work within clients sites, initially about 50% of teams discover they aren’t secure enough or capable of
ceasing to gossip. The reasons: they
lack trust, skills, confidence, shame nor a compassionate understanding of why there’s such a pull to gossip.

The Good Reasons We Gossip

That’s when the discussion begins. We talk about gossip, especially the good reasons we engage in it. Some include:

1) To feel empowered. Stress in relationships often triggers feelings of overwhelm and the belief we’re not empowered. To combat this, gossip gives a false sense of power; pseudo-power. Gossip then provides the illusion we’re taking meaningful action when, in fact, we’re avoiding it.

2) To feel lovable. We often have faulty interpretations of negative behavior from others, become triggered by self-doubt and insecurity, and conclude we’re not lovable. Gossip pro- vides temporary relief as we inflate our own virtues and exaggerate the faults of others.

3) To feel contributing. We gossip to compensate for times we’re not giving, doing or saying what would otherwise fulfill us and be aligned with our values, either because we feel too afraid, unclear, unable and unwilling to take action.

4) To feel connected. Especially in the US, many people report they experience inadequate physical and emotional connection. Gossip, unfortunately, is a widely sanctioned way to intensely connect as opposed to more vulnerable expressions of appreciation, encouragement and love often disdained as too mushy or touchy-feely.

5) “Don’t we just need to vent?” Venting can be helpful but not the way it’s normally done. Gossip as venting is just another way to create the feeling of meaningful action. And indiscriminate, unfocused venting hurts: the one giving it, the one receiving it and the one gossiped about.

When venting is handled with an intention to take constructive action and greater personal responsibility, everyone wins, everyone feels empowered and lovable, and you have the satisfaction that comes from creating an intensely positive, powerful connection, which is a fulfilling alternative. So if you find yourself in the habit of gossiping, stop and remember these five good reasons people gossip. If you want, you can then learn how to gracefully shift from gossip into something more constructive.

So in order to shift out of gossip, it’s important to really know, “What could be better than gossip?!” Please read my article entitled, "Imagine a Workplace with NO Gossip" to learn steps for how-to create a workplace with satisfying communications and behaviors that build strong and healthy relationships. If you’d like to experience first-hand helpful conversations and learn to integrate new practices that can drastically reduce and eliminate gossip in your workplace, become an e4e member and call me now to learn more and bring a program on this topic to your workplace! 314.878.9100

Entrepreneurs Should Speak!

One important component an entrepreneur’s marketing plan should include is giving great presentations!

Here’s why:

Delivering superb presentations has the potential to catapult a speaker to Expert status. We perceive really good speakers as experts. Perception is reality, and we like to work with Experts. (This makes sense, doesn’t it?)

Furthermore, the research shows:

Speaking Opportunities are Business Opportunities!”

Business owners who take and make those Speaking Opportunities grow their businesses.

Unfortunately, many entrepreneurs don’t Speak. They don’t for several reasons:

  1. They have a Fear of Public Speaking.
  2. They don’t do a very good job of presenting, and they know it.

Let’s look at each of these reasons for not using speaking as a marketing tool and what can be done to change them.

Speaking Opportunities are Business Opportunities!


The Fear of Public Speaking

There are reasons for having a Fear of Public Speaking.

  1. If you don’t know what you’re talking about you should fear speaking!
    • Don’t have a passing knowledge of your subject; be an Expert!
    • Research and study your topic. You’ll never know everything, but your mastery should be better than most people have on the subject.
    • There is a “confidence in your competence” that lowers anxiety.
  2. If you don’t know the structure of a presentation, or how to professionally deliver it.
    • An award-winning, delicious cake has a very specific recipe. If accurately followed, the “baker” will have rave reviews bestowed upon them.
    • If they have little knowledge of baking and merely throw ingredients together and hope for the best, the results will likely be disappointing. Disappointing to the people who expected a delicious dessert, and disappointing to the “baker” who didn’t take time to learn and follow a proven recipe.
    • A professional presentation, like a great cake, has a specific structure. When constructed and delivered like a pro, the results can be spectacular. The audience learns something, and the presenter’s message is received as intended.
    • Structure and Delivery can be learned. The results are worth the commitment, and time needed.
  3. If you haven’t practiced!
    • Do you think any of the athletes who participated in the Olympics just “showed up” at their event? Of course not!
    • Will any of the players who put on helmet, pads, and a uniform in the fall to play professional football merely “show up” at game time? No!
    • How about the next showing of Les Misérables? Do actors, the orchestra, and stage hands notice what time the musical starts and “show up” a few minutes earlier. Absolutely not!
    • All the above require days and days of practice and rehearsal. Why would someone think they could “show up” for an important presentation and “wing it?”
    • Steve Jobs is my presentation hero. He was a master at this and set the standard for delivering exceptional presentations. As good as he was, he still practiced ad nauseam before taking the stage. If he had a new product or service to introduce at an Apple Event, he would practice for weeks! (Weeks is not a misprint.)
  4. You’re very Uncomfortable speaking with audiences.
    • Of course it’s uncomfortable! Think about this:
    • Most our talking is one-on-one.
    • Much of our communication is on the phone, and we don’t see the person we’re talking with.
    • Increasingly our ”conversation” is an email or text message. We don’t “speak” to or see people we are communicating with.
    • It’s understandable that getting in front of ten, twenty, or fifty sets of eyeballs we might feel uncomfortable because we are out of our comfort zone.
    • The uncomfortableness will lessen each time we speak in front of an audience.

You’re a Lousy Presenter

OK, I believe you.

There is something you can do about it!

Developing and delivering great presentations is a skill. Skills are learned.

We weren’t born knowing how to drive a car, use a computer, or any of the many other skills we use daily.

There are plenty of great books on the subject. There are courses that can be taken and clubs, like Toastmasters that can be joined. There are people whose expertise is coaching public speaking and presentation skills.


A Presentation has Two Components.

  • Content - Your message.
  • Delivery - Presenting your message.

Each of these components is essential for a presentation. Neither can stand on their own.

Take note that Delivery trumps Content.

You may have the most outstanding content on your topic, but if it can’t be presented in a manner that educates, entertains, and explains it well, your audience will never GET IT! GETTING IT! is the goal of all communication; verbal, written, and visual.

Delivery, Content, and the Parts and Elements of each will be the topics of future Posts.

Till then, I hope your next presentation is - NO SWEAT!

In Every Challenge Seek Opportunity

"The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy."

 Martin Luther King Jr. (1929-1968)

I was raised by two hardworking and loving parents who taught me I could be anything I wanted. In 1974, fate led me to the love of my life, Holly. For the next 10 years, everything was picture-perfect. We began a family in 1977, built our dream home in 1978, and by 1985, our family consisted of four boys and a girl. I owned and operated three family restaurants and five muffler shops with my brother. All of my hard work had paid off, and I was living the American dream.

On August 13, 1985, we lost our infant son, which was very difficult, especially for my wife. In 1990, my brother and I had gone our separate ways in the business By 1993, our oldest son began to struggle with drug addiction. The year 1995, our city began a 19-month road project that resulted in our business dropping in half. December 17, 1997, our son Landon was killed in a car accident. In 1998, our oldest son was faced with eight years of prison due to his continued struggle with addiction. In 2000, my father passed before his time, falling victim to surgical mistakes.

"Our American dream was becoming our American nightmare. Why was this happening?"

For years, I struggled not understanding why all the turmoil. My belief I could be anything I wanted and I had control over my life was shattered. I had no control over what was happening. Our American dream had become our American nightmare. Why was this happening?

After a year of struggling with our second son’s death, a friend of mine wrote, “Larry, if Landon could talk to you now, what would he say? He would say,” Dad get your head out of your butt, take care of Mom, my brothers and my sister, and I’ll see you someday.” At that point I had a choice. My faith would either grow or it would go to hell. Luckily for me and my family, my faith grew.

Fast-forward to May 28, 2010—the day I suffered a stroke that paralyzed my left side. I laid in bed thinking, “Why me? What Now?” Through this stroke, I have been blessed with an understanding of patience and persistence. I walk carefully, and currently type with one hand. However, I am working full time, and life is good! I have been blessed to share my story with others, and this is what I believe:

Proverbs 16:9. “We make our plans, but the Lord guides our steps.” With each of these life challenges, I have been given an opportunity. I have been blessed with a wonderful family and love of my wife of 38 years. My three amazing children have all been blessed with their soul mates, and I have 5 wonderful grandchildren.

Life’s challenges have blessed me with an understanding of the importance of faith, family and friends. It is through faith we receive the gift of hope. It’s by faith our challenges can become opportunities. I would add to Dr. King’s quote to say, “The bigger the challenge the bigger the opportunity.”

The changing and growing landscape of SEO


A few days ago I received a call from a local divorce attorney that wanted more information on my SEO services. After a few preliminary questions, I realized I was speaking with a receptionist who had been tasked to 'find out more' about SEO. This is definitely not the first time this has happened, and I'm sure it won't be the last.

So if you've been tasked by management to research SEO for your business, here's the full scoop.

SEO isn't a one-time thing. It's an ever growing and changing landscape that involves a lot of factors. If you are looking for a quick fix to get to the top of google, you might as well stop reading here because you won’t find it. There's no such thing, and if any marketing company tells you different, it is lying (and stealing your money).

In short, there are two main parts to SEO.

Onsite SEO

There are a lot of things you can do to your website that can influence the search engines to like you more. These include heading tags, page titles and a variety of other factors. Each one of these items needs to be addressed and fixed when necessary. A high level SEO audit can help you find many of these and, depending on your coding skill level, can be fixed without hiring an SEO guru.

While not a direct SEO factor, your websites usability should be taken into consideration at an early stage. If you can’t easily update your website, or it looks like it was built in the late 80s, it is probably time for a redesign. This can be costly, but if you are serious about SEO, it's not something you should dismiss quickly. I have turned down many good clients because they thought their website (usually one they built themselves) was the best thing since sliced bread. It's not.

Redesigning your website at an early stage in the SEO process is not only a smart investment, it makes your job a lot easier down the road when your SEO starts giving you tasks that need to be completed through the website. Using a user-friendly content management system (CMS) such as WordPress is a good way to go. You'll be glad you did.

A good onsite SEO evaluation should also include a conversation around calls to action. Since the ultimate goal of your SEO campaign is usually more leads (NOT more traffic), you should consider what sort of target audience you are hoping to attract and what sort of actions you want them to take once they visit your website. These are crucial to having a successful online marketing strategy.

Offsite SEO

Here's where SEO gets interesting. Believe it or not, there are a lot of things you can do on other people’s websites that affects your overall rankings. While it would be impossible for me to list them all, I'll try to hit the main ones.


In short, the overall amount of positive links you have leading back to your website influences your overall rankings. I say positive, because there are a lot of easy ways to get links, but they aren't necessarily good links. Heck, I could get you a thousand links tomorrow if you'd like (and some SEO agencies still offer this service) but they'd be useless, if not hurtful for your overall goals.

So what is a good link?

A good link is a link from a similar industry website, blog or social profile. This means if you sell goggles, a link from a site like sears.com would be more desirable than a link from a site like wesellgogglespleasebuyonline.net. The authority and reputation Sears has far outweighs that of the latter.

Unfortunately, getting links from high authority sites isn't always easy. It takes time, it takes a process, and sometimes it just takes cash.

What then is a bad link?

A bad link is a link from a non-related website, a link directory or a site in a 'bad neighborhood' (porn, pharmaceuticals, etc).

Bad links are easy to get. You can use an automated submission tool, or just hire some company in India to do it for you. I wouldn't recommend it, though.

A Natural Link Profile

Up until recently, building links was always a process focused around keywords. Links based on words you use in your industry were worth more than links indicating 'click here' or 'check out this site'. However, a recent update from google called Penguin changed this line of thinking. Search engines are now looking for a good mix of both keyword, brand-related and generic links. When considering hiring an SEO person, make sure they understand the value of this mixture.


For businesses with real physical addresses, citations can play an important role in your overall search engine rankings. A citation is a mention of your business name, address and phone number on another website. It may or may not contain a link to your website, and that's ok.

Search engines use these mentions as indicators your business is real, so it is important every citation around the Internet has the exact same phone number, address, etc.

Getting started

If you are serious about getting started with SEO, please read my post on different options you have, what steps you need to take, and how to determine a good SEO from a bad one.

Two Files Every Website Should Have

When a search engine 'bot' visits your site for the first time, it looks for two files right off the bat: robots.txt and sitemap.xml. Search engines use these files to learn about your website and can make recommendations on optimizing, modifying, and even fixing your website.

The robots.txt file is like a stop light. It tells bots where they can crawl and where they cannot. Don't want your images included in Google index? This is where you tell them. Don't want them to crawl your admin section? I don't blame you. Block them.

The robots file goes in your root directory, and is a simple text file you can edit with notepad or any text editor. To see if you have one, just visit http://www.yourdomain.com/robots.txt. If nothing is found, you do not have a robots file or you put it in the wrong place.

There are two basic parts to the robots file: the bot specification and permissions for that bot. Only want to block your site from Yahoo!? You can (although I'm not sure why you would).

Lastly, you can add a line to tell search engines where to find your site map file. This is the full URL.

The other file, sitemap.xml, is just what it sounds like. It's a sitemap, or roadmap, of your entire website - complete with links to every page all bundled into one nice little file. To make this file, visit xml-sitemaps.com, put in your website address and it provides back to you a downloadable file for you to put on your website. The only downside to this process is you have to redo it every time your site changes.

If you're using WordPress, it's even simpler. Plugins like Yoast (is Yoast correct?) SEO (which I recommend) and Google XML Sitemaps will create and update your Sitemap file with every change you make.

Lastly, you can add a line to tell search engines where to find your site map file. This is the full URL path, so in most cases it will be

sitemap: http://www.yourdomain.com/sitemap.xml

Having these two files on your website makes it easier for search engines to know what your website is about and will decrease the time it takes to get your new site indexed.

How to Use LinkedIn Signal to Find Prospects Who Want What You Sell

LinkedIn Signal (http://www.linkedin.com/signal/) is one of the most powerful tools available on the internet.

If you know how to use it properly, you can literally find any conversation on LinkedIn. Conversations happening between people not even connected to you, including groups you don’t belong to.

It is literally one of the best customer intelligence tools out there, and it’s free.

Imagine you had a tool for discovering any time somebody talked about your products or services on LinkedIn. If you think this might be a great strategy to find new leads and build relationships with highly targeted prospects, you’re correct.

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Help! I Dread Going to Work and I’m the Owner!

Nearly all men can stand adversity, but if you want to test a man's character power.

- Abraham Lincoln

What do you need and want in order to enjoy a successful, thriving business? Most of all, you need employees who are proactive, creative and personally responsible regardless of who’s observing. You need people of character, who use their power in service. So…how do you accomplish this when 71% of the American workforce is predominately disengaged?

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Feel You Always Have Too Much To Do?

Are you tired of sleepless nights, unproductive feelings of stress and anxiety, relationships constantly under duress, and not being yourself at the top of your game?

One of my earlier BLOGS pointed to the Tyranny of the Urgent and the importance of setting priorities in order to be happy, productive, and successful.

Why is it we have time to do things over, but not time to do them right the first time?

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Are You a Google Ostrich?

Don't bury your head in the sand, adapt to the new SEO reality.

Marketing would be easy if you could ignore the Google's disruptive algorithm changes. But doing so puts your business at risk.

We all want to make things fast and easy to get found online and sell more. The desire to minimize the resources to get the job done is simply part of human nature.

But fast and easy can come back to bite you. Here's a guiding principle that will help you be more successful in the new SEO reality: Get away from easy, manipulative SEO methods. Instead, create high quality content people want to link to.

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Are you always on the verge of getting ‘caught up’?

Do you ever get the feeling your life is out of control?

The internet has been a game changer in our lives, but is your life better off as a result of the internet? The answer to that question is probably “it all depends.” Being overwhelmed day in and day out can be stressful. We’re literally being bombarded with activities that drain our energy. It’s important to admit we are sabotaging our lives and can make the choice to live healthier and longer lives with less stress.

Did you ever try to catch butterflies when you were a kid? Catching butterflies is not an easy thing to do. At a minimum it’s difficult to catch butterflies without a net. Getting caught up is like catching butterflies. We are often unsuccessful, because we flitter from one task to another. No matter how hard we try, we become overwhelmed with activities and tasks.

NEWS FLASH …..Stop trying to CATCH UP! It’s futile. Now, don’t you feel better? You have actually accomplished something.

You might be asking, “Why is a sales expert writing about time?” What makes me a time management expert? In the selling game ‘time is money.’ Over the years, I have constantly honed my time management skills because there are a jillion time wasters in selling. It’s like skeet shooting. There are always clay pigeons disguised as real priorities everywhere you turn. In selling you can literally waste hours, and even days of time if you don’t develop good time management habits.

It might be easier to wheel you into your local hospital for surgery on your brain but you could settle for a simple paradigm shift to make profound change in your life. Change requires effort and forming new habits on your part, but in the end it’s safer and less costly than brain surgery.

The real culprit in our lives is the…Tyranny of the Urgent*

To illustrate my point, in my last job before starting my own business, I asked one of our people (an up and coming super star). “How do you decide what to work on every day?” His comment was simply, “I work on what comes across my desk.” This thinking is easy but produces mediocre or poor results.

Our lives will always be too full. You may believe there’s a lot more to do than you have time and energy to accomplish. It’s like someone put you on a tread mill and then turned the speed up as fast as the treadmill will go. To be successful you have to discipline yourself to practice making good choices. Decide what’s important, what really makes you happy. When you focus on your relationships with your friends, family, children and colleagues, you bring great joy into your life. Being healthy spiritually, physically, and mentally forms the foundation for all you do. Having worthwhile work is motivating and rewarding. It’s that simple. You then enjoy a place you can call home and transportation to get you around. Everything else is just small stuff.

You will never be satisfied with “stuff”. “Stuff” gives short-term satisfaction but is a fleeting form of gratification…

How you prioritize, what you decide to do every morning when you get up, isn’t going to get any easier. Make the decision right now you are going to take action to make better choices about what’s important in your life before it’s too late. If you don’t value your time, don’t expect others to value it either. Give you and your family the greatest gift of all.

Live a quality life built around things that matter most.

If you’re interested in learning more about the art and science of taking control of your life, sign up for our free membership trial or become an e4e member. Once you sign up, go to my 7 Steps to Sanity in a World Gone Mad in the Articles section of the e4e community.

Productivity Through Digital Contracts

Have you ever considered using an online e-signature service to manage contracts?

Every business requires documents to be signed.  If your company is still waiting for physical signatures and faxes, then you might be able to introduce a new workflow to save you time.  Imagine all the following scenarios in your business:

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