Law of Diffusion of Innovations

law-of-diffusion-of-innovation

As the law states, the first 2.5% of population are the innovators, and the next 13.5% are early adopters.

Altought quick to see the potential and willing to take risk to try new technologies or ideas,early adopters are not generators like the innovators. But both groups are similar, as Moore says, in that they rely heavily on their intuition. They trust their gut.

The farther right you go on the curve, the more you will encounter the clients and customers who may need what you have, but don’t necessarily believe what you believe. As clients, they are the ones for whom, no matter how hard you work, it’s never enough. Everything usually boils down to price with them. They are rarely loyal.

The importance of identifying this group is so that you can avoid doing business with them. Why invest good money and energy to go after people who, at the end of the day, will do business with you anyway if you meet their practical requirements but will never be loyal if you don’t?

Each of us assign different values to different things and our behaviors follow accordingly. This is one of the major reasons why it is nearly impossible to “convince” someone of the value of your products or ideas based on rational arguments and tangible benefits.

According to the Law od Diffusion, mass-market success can only be achieved after you penetrate between 15% and 18% of the market.

The goal of business then should not be to simply sell to anyone who wants what you have – the majority – but rather to find the people who believe what you believe, the left side of the bell curve. They perceive greater value in what you do and will happily pay a premium or suffer some sort of inconvenience to be a part of your cause.

Simon Sinek

Advertisements

Set Off the Alarm Clock on Yourself

Quote

Red-alarm-clock

I am a great admirer of Abraham Lincoln, and one reason I am is because he came to the point so quickly. He was a master of brevity. He made the most famous address in the history of the world. The man who preceded him to the platform spoke for two hours. Then Lincoln spoke – for exactly two minutes.

Overtalking is one of the worst of all social faults.

Whenever you become conscious of talking too long – stop! “Set Off the alarm clock” on yourself. 

A salesman cannot know too much, but he can talk too much. 

I don’t mean we should be abrupt. We quickly resent the person who is abrupt; but we admire the person who is brief and to the point.

Frank Bettger

 

Connect with Something Larger than Themselves

Quote

2014-02-22 20.51.13

Most leaders tend to view teamwork as a social engineering problem: take group, add motivational technique and get z result. But working with the Bulls I’ve learned that the most effective way to forge a winning team is to call on the players’ need to connect with something larger than themselves. Even for those who don’t consider themselves “spiritual” in a conventional sense, creating a successful team – whether it’s an NBA champion of a record-setting sales force – is essentially a spiritual act. It requires the individuals involved to surrender their self-interest for the greater good so that the whole adds up to more than the sum of its parts.

Yet even in this highly competitive world, I’ve discovered that when you free players to use all their resources – mental, physical, and spiritual – an interesting shifts in awareness occurs. When players practice what is knows as mindfulness – simply paying attention to what’s actually happening – not only do they play better and win more, they also become more attuned with each other.

Phil Jackson

Action and Feeling

Quote

2013-11-29 20.57.30

“Action seems to follow feeling, but really action and feeling go together; and by regulating the action, which is under the more direct control of the will, we can indirectly regulate the feeling, which is not.”

Before entering a man’s office I would pause for an instant and think of the many things I had to be thankful for, work up a great big, honest-to-goodness smile, and then enter the room with the smile just vanishing from my face. It was easy then to turn on a big, happy smile.

Give every living soul you meet the best smile you ever smiled in your life, even your own wife and children, and see how much better you feel and look. It’s one of the best ways I know to stop worrying, and start living. When I began doing this, I found I became more welcome everywhere.

Frank Bettger

President of Yourself

Quote

2013-10-29 13.02.34

 

The highest paid sales professionals in every field accept 100 percent responsibility for their lives and for everything that happens to them. They see themselves as the presidents of their own professional sales corporations. They view themselves as self-employed.

They refuse to make excuses or to blame anyone else for anything in their lives that they are not happy about. If they don’t like something, they know that it is up to them to get busy and change it. They accept complete responsibility and they refuse to complain or criticize.

As the president of your own professional sales corporation, you are paid for results, not activities. If you want more money, make more sales. In the long run, you determine your own income by what you do and by what you neglect to do.

Brian Tracy

Witnesses

Quote

IMG_2099

 

I never had much success overcoming objections with clever comebacks. They read well in textbooks, but when I tried to use them, they only seemed to lead into an argument. I found if a hundred times more effective when I could get a direct testimony from one of my “witnesses”.

I have been inspired by reading about a few great men in history, but my biggest inspiration, and some of the best ideas I’ve ever learned, have come from the men I have done business with, and friends I have made. As I profited by their ideas, I have made a point to tell them about it. I find that people love to hear that they have helped you. 

Frank Bettger

Preparation

Quote

IMG_2086

 

Preparation is the mark of the professional – in every field. The highest paid salespeople review every detail of an account before every sales call. They read the literature and information they have gathered on the prospect. And their prospects can sense it almost immediately.

Invest 3 percent of your income back into yourself. Invest 3 percent of however much you earn back into becoming even better at what you did to earn the money in first place. 

For every dollar you invest back into yourself to improve your ability to earn even more, you will get a return of ten, twenty, fifty, one hundred, and even one thousand times your investment.

Brian  Tracy