American Express

Posts Tagged ‘relationship’

When you sign up for a bank account, take note of what kind of compounding the bank uses in calculating interest. The more frequent the compounding, the more you will earn. The fastest compounding is called continuous compounding. Other banks compound on a daily or monthly basis. While signing up with a bank that compounds interest more frequently is desirable, you will not earn so much more interest that it makes it worth sacrificing convenience or other useful bank services.

Remember that all interest you earn from a bank or savings and loan account is totally taxable at the federal, state, and local levels. Deduct what you will be paying in taxes when you calculate what your return will be from a bank account of any type.

In choosing a bank, look closely at the minimum deposit levels required to avoid monthly service charges and other fees. Banks today say they are not in the banking business, but the “financial relationship” business. The more of your money you bring to a bank, the more you will be rewarded with higher yields and lower fees on your accounts, as well as lower interest rates on loans. If you keep small balances of less than $1,000, you may want to opt for a no-frills checking account, on which you pay a flat fee no matter how low your balance falls.

The emphasis of modern selling is to develop what is known as relationship and consultative selling. Both of those adjectives will be explained in more detail in the following chapters. Suffice to say at this stage that it is much easier to win new business from a person who you have developed a relationship with rather than a complete stranger.

We have all heard sales people brag that they do business with X, Y and Z company. I have tried over the years to sell to companies, to the private sector and the public sector, to government bodies and institutions, to homes and flats, and I have never achieved a sale. I have only ever made a sale to another person. So your marketplace is no different from mine.Selling is about relationships, trust and earning respect. In building relationships you must become a good ambassador of your product or your company, and to do this you will need six vital ingredients:

1. Business knowledge
2. Industry knowledge
3. Company knowledge
4. Product knowledge
5. Sales skills
6. Attitude