The World's Best Book Summaries
What is lean implementation? How can your business benefit from lean systems? A lean system minimizes waste while also maximizing production within a company. Implementing lean manufacturing can also increase your workflow and create better teams. Continue reading to learn more about lean implementation, as read in Jeffrey Liker’s The Toyota Way.
What are the five types of customer objections? Why will a customer not want to purchase your product? There are many reasons why a customer won’t buy your product. Thankfully, salesman Zig Ziglar says that preparing for these objections can help you address them and convince a customer to buy from you. Here are the five most common customer objections and how to overcome them.
What is the Pareto rule? How does applying the 80/20 rule help you increase your productivity and happiness? The Pareto 80/20 rule states that 80% of your outcomes result from just 20% of the effort you put in. According to Richard Koch, this principle is at work in every aspect of your life, including your career and relationships. Let’s examine what the Pareto 80/20 rule is and why it matters.
What is business execution? Why must good business leaders learn to execute? The term “execution” has a few different meanings when it comes to business. The definition we’re using is the one from Larry Bossidy and Ram Charan’s book Execution. According to the authors, business execution is a discipline that leaders must follow in order to advance the company’s goals. Keep reading to learn about the meaning of execution in business, and why it’s so important.
Are you a new salesperson? What is Zig Ziglar’s advice on selling? In Secrets of Closing the Sale, salesman and public speaker Zig Ziglar reveals how you can greatly increase your chances of closing your sales. To do so, you need to exhibit the core qualities of a good salesperson and address customer objections. Here’s the beneficial advice of Zig Ziglar on selling and becoming a better salesperson.
Is your product struggling to sell? How do you want to stand out against your competitors? It’s nearly impossible to find a market that has no competitors. Instead, you have to learn how to stand out from your competitors, using William M. Luther’s two methods in The Marketing Plan. Read on to learn how to stand out against your competitors.
How does the Pareto 80/20 rule apply in business? How can you identify the 20% of inputs and activities that make the most difference to your business’s bottom line? In any company, you can predict that 80% of profits are generated by 20% of inputs in each domain, including customers, products, employees, and departments. According to Richard Koch, there are two ways you can identify the top-performing 20% of those inputs: conducting an 80/20 Analysis and applying 80/20 Reasoning. Let’s briefly review each method.
Are you looking to grow your business? Do you want to know how to beat the competition in business? When selling a product, you’re going to have more than a few competitors out there. Luckily, William M. Luther’s book The Marketing Plan has advice on how to succeed in competitive markets. Here are Luther’s four strategies to beat the competition, plus four more strategies from other business experts.
What is the Waterfall Model in business? What are the disadvantages of the Waterfall Model? The Waterfall Model (or the “Waterfall Method”) is one of the most common management methods in America. This model uses a step-by-step approach to project management where each stage has a set deadline and budget. It sounds good in theory, but projects using this method typically end up behind schedule and over budget. Here’s why the Waterfall Model doesn’t work.
Do you want to know how to make a sale? How can you craft an effective pitch? In Secrets of Closing the Sale, Zig Ziglar highlights five rules you must follow to make a sale. These rules include helping the customer and addressing objections, which are important to marketing plans. To know how to make a sale, follow the five rules below.