6 Critical Reasons Sales Reps Must Understand Market Segmentation

Market-Segmentation

If you want to succeed as a sales representative today, understanding market segmentation is critical. Well-run Sales and Marketing teams now work closely together, and their ability to collaborate creates new opportunities. Proper market segmentation work is foundational to good corporate and territory-level planning. Understand Your Market and How it Works Think of your market in terms of needs, not products. Map how your market works from start to finish. Quantify installed customers and share within those accounts. Also, describe how your market is changing. Highlight important decision points in your market flow where decisions are considered. Need marketing some … Read More

How I Failed as a Math Business Entrepreneur – Part 1

IPMG Software Logo

Failing in math is something I never did. Failing as a math business entrepreneur is something I know well. This story isn’t one of those, “I failed, now I’m uber successful, this is what I know now and here’s how you do it.” This one is about how it was, what happened and how it is today. A Man with a Gift for Math and a Love of Teaching Using Games In December of 2004, my dad, brother, sister and I acquired a small math game and activity publishing company called White Bear Publishing. We purchased the business, and it … Read More

Private Equity, Ophthalmology and the Rise of the Mega Eye Practice

Private Equity has an Eye on Ophthalmology

Only time will tell if private equity can fuel growth in ophthalmology. Are Dick Lindstrom and his partners at Minnesota Eye Consultants (MEC) the tipping point for the spread of the Mega Practice? Is this right for our industry? Private Equity Let’s start with a definition of private equity. Investopedia defines private equity this way: “Private equity is capital that is not noted on a public exchange. Private equity is composed of funds and investors that directly invest in private companies, or that engage in buyouts of public companies, resulting in the delisting of public equity.” MEC partnered with Waud … Read More

9 Selling Truths I’d Teach My Younger Self

Young Business Man with Senior Business Man

My hair is now gray, and these are the 9 selling truths I’d teach my younger self. Professional selling began for me 26 years ago. I was 24, had a baby on the way and my family figured I’d starve. Gratefully, I now have lots of wins and losses under my belt, and I’m still in the game. Given the luxury of a time machine, the ideas below are what I’d share with my younger self. The order is open to debate, and that’s why there are no numbers. My selling truths to pass on, along with a few suggested … Read More

3 Reasons the Price Discounts You Agree to are Killing Your Business

How is offering the price discount your customer is asking for killing your business? This article is about three important ways the discounts you’re offering are affecting your company! Your value is not consistent with the price No way, you say? Yes, it’s true. If your customer is asking you for a price reduction, their perceived value of your product is different than it was before. Even if they aren’t stating this with their words, they are with actions. And people buy with actions, not words.  If you only get one idea from this post, please focus on the above … Read More

Learning to love order and gaining freedom in the process

Order is not my strong suit. Add process and my eyes glaze over. At least, that’s what I thought in my younger days. Yesterday I read a quote from Winston Churchill that resonated with me: “In the first 25 years of my life I sought freedom. In the next 25, order. And in the last 25 I learned order is freedom.” Funny enough, though, for the last 25 years it doesn’t feel like I’ve been chasing structure. I do struggle to find it. And when I do, it’s fleeting. Maybe that’s why the universe favors entropy? At least that what … Read More

Five Critical Selling Strategies You Can Learn From Blowing Snow

For the first time in several years, we have a Christmas covering of snow and cold temperatures. The last couple of winters were mild and snow blowing was minimal all year. Can I learn critical selling strategies from blowing snow? What the heck does blowing snow have to do with critical selling strategies? Please stay with me for a minute and read on.

Will Millennials, LASIK and Cataract Surgery Technology Influence Ophthalmology?

Seven trends may provide the answer to the question, “Will Millennials, LASIK and Cataract surgery technology influence Ophthalmology?” These emerging beliefs, commercial strategies and technologies portend an environment rich with opportunity for those who adapt and frustrating for those who do not. Millennials – Providers and Patients Four millennial children in my family make me acutely aware of the traits exhibited by this age demographic. Much is written about the trends, possibilities and pitfalls arising from this group’s coming-of-age. For ophthalmology, Millennials are a conundrum because they are both provider and patient. They think, work and act differently than most of … Read More

5 Resolutions for Year Fifty-Two of My Life

Yesterday was my 51st birthday. Below are five resolutions for year 52 of my life. I think of them as compass-like and guiding. I am a steadfast goal setter and this feels like a different exercise. Goals are specific, measurable and attainable and my five resolutions are more like guideposts. Don’t get me wrong, and I haven’t gone soft. I love a good goal setting, strategy session and that hasn’t changed. Today, what I’m writing about are some bulwark-like thoughts to help me smooth out my rough edges and strive to make Year Fifty-Two my number one. The Five Resolutions … Read More

A Good Idea Not Well Executed – 2.0

Rarely does the sequel meet the payoff of the original. When Hilton Hotels had a good idea not well executed that I wrote about on Wednesday, I didn’t expect a follow-up message.  As Paul Harvey used to say, “Now, the rest of the story.” The person transporting me to the hotel where I was booked to stay, dropped me at the Airport Hilton instead of the Hilton Garden Inn Airport. An easy mistake to make.  Once the front desk person and I realized what had happened, she called the Garden Inn, explained the situation, cancelled my reservation and I rebooked … Read More