I always equated making a sale with the basic instinctive urge to make that kill. I as I am sure many others have experienced all these emotions and perhaps without knowing why.

Most of us have. And most of us have felt the urge to yelp with excitement when we win a big success, too.

That’s your inner animal at work. Literally at work; you don’t leave it behind when you’re taking care of business!

You might like to think you’re a cool, clear-headed entrepreneur making rational decisions, but what’s really going on underneath is a bit… messier. Whether you know it or not, you’re acting and reacting just like an animal.

Here’s why:

Why Entrepreneurs Are Animals

Your business decisions are strongly influenced by your hormonal state. Yep, even if you’re a man. In fact, the effect is typically stronger in men, because a lot of it is testosterone-based.

John Coates, a Wall Street trader turned neuroscientist, found that fluctuating testosterone and cortisol levels have a massive influence on the decisions we make. He’s seen the effects first-hand on the trading floor, and his research shows that we’re no different than other animals in our hormonal behavior.

Testosterone is released into your bloodstream during a victory, a risk or a competition. It’s like a chemical battle cry that echoes through your blood, your brain and your body.

In times of stress and uncertainty, your body produces cortisol, which has the opposite effect. It’s calming in small amounts, but too much leaves you feeling exhausted, anxious and depressed.

What does this all mean for your professional life? Well, if everyone’s decisions are influenced by their hormonal state, you can use that knowledge to further your ambitions.

Understand Your Inner Animal to Get Ahead

Coates calls it the “winner effect”: the excitement of competition and success prompts your body to produce testosterone. That influences your brain to make riskier decisions, and for a while you keep winning bigger and bigger, smashing through targets like a charging rhino.

In the end, of course, overconfidence turns one of those optimistic gambles into a failure. You kick yourself (how did you fail to see it coming?) as cortisol floods into your bloodstream, making you anxious and miserable.

You try to protect yourself by avoiding further risk, which means you miss out on worthwhile opportunities until your hormones level out and you regain your confidence. If this had a name, I guess it would be the “loser effect.” But don’t worry; you can turn it around!

Once you know how your hormones affect your judgement, you can consciously correct for these effects and keep your business decisions on a more even keel:

• When you’re feeling cortisol-stuffed and risk-averse, remind yourself to look rationally at any trade-offs you’re considering. If the benefit is high and the risk is small, maybe you should give it a chance!
• Remember that asking for help when you need it is a sign of professional strength, not weakness. Don’t let a cortisol downer isolate you from your support network.
• Understand that a little bit of testosterone and risk does you good, making you more productive and successful at work—as long as you’re not overdoing it.
• When you’re feeling on top of the world with a testosterone high, remember that it’s a long way down! Rein in your risk-taking urges a little and consult with colleagues or friends to find out if they think your plans are genius or just plain nuts.
• Notice when your hormones are being manipulated to influence your decisions. Brands likeThe Sales Lion and Shark Tank, for example, aren’t named after large predatory animals by sheer chance; they’re designed to appeal to the testosterone in an ambitious entrepreneur like you!

Learn to Tame the Animal in Others

You aren’t the only one who gets hormonal, you know. It’s every single one of us.

We get angry, tearful, euphoric or nervous because our hormones overrule rational thought. Every business meeting or transaction is influenced by these biological factors, so let’s learn to work with that.

If you know a contact or colleague has just suffered a setback in their business or personal life, remember that cortisol will make them less interested in opportunities that carry any kind of risk. You might want to offer brief, friendly condolences and wait a while before bringing them your latest proposal. Or perhaps you can frame your idea as a risk reduction. “Let me take responsibility for X and you’ll never have to worry that it’s been overlooked again” could work pretty well at a time like this.

The flip side of this is to press your advantage when you know someone’s on a testosterone roll. They’ll be feeling exuberant and generous in victory, so make the most of it. In other words, ask for a raise or promotion the day your boss wins an award, and you’re more likely to get your wish!

Whatever your ambition, understanding our animal biochemistry will help you to achieve it. Armed with this knowledge, you can survive even the worst moments of your career with dignity and take full advantage of the best.

You’re an animal. Recognizing that gives you power. Use it wisely, and you’ll be unstoppable!

Sophie Lizard is a freelance blogger and copywriter on a mission to help entrepreneurs boost their income and professional reputation by blogging for hire. Download her free Ultimate List of Better-Paid Blogging Gigs to get started with 45 blogs that pay $50 or more!

DealerNet Services

The thing to remember about SEO is that it is long term, so once you’re ready to strap in for the long haul get comfortable because it’s going to be a forever ride. As an SEO professional I want to help site owners navigate the murky and sometimes confusing waters of their SEO campaign, and a big part of that is making sure you’re ready for what’s ahead. I’ve found that getting into the right SEO mindset and knowing what to expect down the road goes a long way in helping you and your website overcome many hurdles and survive for the long haul. Here are 4 pieces of advice for those new to SEO.

Related: Outsource your SEO to an online marketing firm.

1. There is no need to be overwhelmed with information.

A quick search for “SEO blog” in Google tells me that there are 358,000,000 results. That’s probably more SEO knowledge than any one person could possibly know (let alone read) so where is a new to SEO site owner or marketer supposed to start? My advice is to start with the Bing and Google Webmaster Guidelines and official webmaster blogs, then work your way through some of the top SEO sites and blogs like Search Engine Land, ClickZ, and the Moz Blog. These are some of the sites that SEO folks rely on and they are a great source for trusted information.

With so many SEO blogs, professionals, companies, consultants and more out there it is hard to know who to trust/listen to, so high-profile industry sites are a great place to start learning who the “gurus” are. Don’t expect to learn everything there is to know about SEO in one fell swoop either. I’ve been doing this for 13 years and still learn new things almost every day!

2. Focus on building a strong SEO foundation before worrying about the “hot” tactic.

If you wanted to build a pyramid, aside from 10,000 or so slaves to do the heavy lifting, you would start from the bottom and work your way up, right? It’s kind of hard to start with the cap of the pyramid and work your way down. The same holds true for SEO. Focus on getting a strong foundation and worry first about optimizing your website for your visitors and the search engines, creating content that demonstrates your authority, and building up a quality link profile. Don’t fret over the “hot” SEO tactics until you have your feet on solid ground with the basics. Though some tactics may change a lot of the fundamentals of SEO stay true, even in the face of algorithm updates.

Related: Don’t Kill Your Online Marketing with Bad SEO

3. It’s not SEO or social; it’s SEO AND social.

It’s a positive feedback look with SEO, social media marketing and content marketing. The content you create to propel your SEO forward can also be used to fuel your social media marketing and promotion efforts. Great content gets shared, liked, tweeted, posted and so forth on social networking sites, generating social signals which the search engines factor into their ranking algorithm, helping improve your organic SEO presence. The more active you are in social media the more your content gets seen and the more valuable your website becomes in the eyes of the search engines in time.

Related: How Do Small Social Communities Help Your SEO?

4. Slow and steady wins the race (even if it doesn’t feel like it).

I’ve spoken with a lot of site owners that feel like their competition isn’t playing by the rules and yet somehow they are still winning! And sometimes they are right. The search algorithm isn’t perfect and as that old adage goes; when you build a better mousetrap someone creates a smarter mouse. There will always be people taking advantage of the system and exploiting loopholes but in my experience, sooner or later, those people get caught. Your site, your online brand, and the future of your business are not worth the risk that comes with SEO shortcuts. Stick to the rules as best as you can and you’ll earn your organic spot and the traffic that comes with it in time.
By Nick Stamoulis

http://dealernetservicesonline.biz

 

The thing to remember about SEO is that it is long term, so once you’re ready to strap in for the long haul get comfortable because it’s going to be a forever ride. As an SEO professional I want to help site owners navigate the murky and sometimes confusing waters of their SEO campaign, and a big part of that is making sure you’re ready for what’s ahead. I’ve found that getting into the right SEO mindset and knowing what to expect down the road goes a long way in helping you and your website overcome many hurdles and survive for the long haul. Here are 4 pieces of advice for those new to SEO.

Related: Outsource your SEO to an online marketing firm.

1. There is no need to be overwhelmed with information.

A quick search for “SEO blog” in Google tells me that there are 358,000,000 results. That’s probably more SEO knowledge than any one person could possibly know (let alone read) so where is a new to SEO site owner or marketer supposed to start? My advice is to start with the Bing and Google Webmaster Guidelines and official webmaster blogs, then work your way through some of the top SEO sites and blogs like Search Engine Land, ClickZ, and the Moz Blog. These are some of the sites that SEO folks rely on and they are a great source for trusted information.

With so many SEO blogs, professionals, companies, consultants and more out there it is hard to know who to trust/listen to, so high-profile industry sites are a great place to start learning who the “gurus” are. Don’t expect to learn everything there is to know about SEO in one fell swoop either. I’ve been doing this for 13 years and still learn new things almost every day!

2. Focus on building a strong SEO foundation before worrying about the “hot” tactic.

If you wanted to build a pyramid, aside from 10,000 or so slaves to do the heavy lifting, you would start from the bottom and work your way up, right? It’s kind of hard to start with the cap of the pyramid and work your way down. The same holds true for SEO. Focus on getting a strong foundation and worry first about optimizing your website for your visitors and the search engines, creating content that demonstrates your authority, and building up a quality link profile. Don’t fret over the “hot” SEO tactics until you have your feet on solid ground with the basics. Though some tactics may change a lot of the fundamentals of SEO stay true, even in the face of algorithm updates.

Related: Don’t Kill Your Online Marketing with Bad SEO

3. It’s not SEO or social; it’s SEO AND social.

It’s a positive feedback look with SEO, social media marketing and content marketing. The content you create to propel your SEO forward can also be used to fuel your social media marketing and promotion efforts. Great content gets shared, liked, tweeted, posted and so forth on social networking sites, generating social signals which the search engines factor into their ranking algorithm, helping improve your organic SEO presence. The more active you are in social media the more your content gets seen and the more valuable your website becomes in the eyes of the search engines in time.

Related: How Do Small Social Communities Help Your SEO?

4. Slow and steady wins the race (even if it doesn’t feel like it).

I’ve spoken with a lot of site owners that feel like their competition isn’t playing by the rules and yet somehow they are still winning! And sometimes they are right. The search algorithm isn’t perfect and as that old adage goes; when you build a better mousetrap someone creates a smarter mouse. There will always be people taking advantage of the system and exploiting loopholes but in my experience, sooner or later, those people get caught. Your site, your online brand, and the future of your business are not worth the risk that comes with SEO shortcuts. Stick to the rules as best as you can and you’ll earn your organic spot and the traffic that comes with it in time.
By Nick Stamoulis

http://dealernetservicesonline.biz

 

 

 

So are they going to close down the (OFT)? Apparently they are not doing a good enough job (Believe that and I have the car for you.)

 

This is a direct result of Big Government thinking they know how to control our lives better than we do.

 

I propose that we write a grant and get funding to set up our own regulatory agency the (GODB) GET OFF OUR DAMN BACKS! AND LET THE MARKETS DECIDED WHAT IS FAIR PRACTICE OR A GOOD PRODUCT.

 

Now they want to look at GAP Protection. What is wrong with GAP insurance anyway? It is a good product that provides value to the consumer and has been being sold for ever. No wonder our Government can’t get anything done or do it right when they do. I doubt if they even know how many agencies are out there wasting our hard earned tax dollars that we pay based on our income. Now they want to play with our income. Does anyone see anything ironic here?

Author Bill Cosgrove
http://dealernetservices.biz
 

 

 

 

FCA issues call for evidence on GAP competition

 

 

The Financial Conduct Authority (FCA) has begun a study into general insurance add-on products with an appeal for evidence of competition in the marketplace.

GAP (guaranteed asset protection) insurance sold by the motor industry is one product under scrutiny. Others include home emergency insurance, gadget, travel and personal accident cover.

The market study will consider evidence from companies and individuals and look at the nature of competition in these markets, in particular whether these products represent good value for money and whether consumers understand what they are getting with their policy.

The FCA’s call for evidence, to be submitted to FCAGIadd-on@fca.org.uk before September 10, reveals it will consider whether prices are excessive for a given quality, whether the quality is what consumers reasonably expect, any profitability differentiation between add-on and standalone sales for underwriters and distributors, and whether the consumer actively considers alternatives.

A key focus of the study is to investigate what impact add-ons have on consumer behaviour and expectations, how firms respond to those, and whether poor market outcomes arise as a result. 

Martin Wheatley, chief executive of the Financial Conduct Authority (FCA), told the Association of British Insurers (ABI) Biennial Conference: “Our new competition duty is the single most significant change in our objectives as a regulator. It means that we don’t just wait for problems before we try to promote competition in the markets we regulate.

“We have our first market study underway looking at general insurance add-ons.  We’ve called for evidence and approached a number of firms in the market for information. We are testing whether poor outcomes in add-on sales could reflect particular consumer behavioural traits and firms’ responses to them.”

“One of the questions I was most frequently asked 101 days ago was: ‘Is the FCA going to be genuinely different from the FSA?’.  We understand why people reserved judgement - the FSA needed to change.

“100 days later I think we are taking steps in the right direction. The FCA is in many areas a very different animal from the FSA.

“We’re not just asking: Is this product compliant? Does it tick every legal box? But actually: is the outcome good? Is the market competitive? And is fair treatment of consumers designed into products and culture?”

The results of the FCA's findings will be reported in 2014.  

 Author Tim Rose

 

 

 NEW FCA TO REGULATE CONSUMER CREDIT

 

The Office of Fair Trading (OFT) is facing calls from the Financial Services Consumer Panel to transfer control of consumer credit regulation to the new Financial Conduct Authority (FCA).

The Financial Services Consumer Panel says the FCA, who will succeed the Financial Services Authority (FSA) upon enactment of the Financial Services Bill, should be given full responsibility for the regulation of retail financial services, including consumer credit. 

The Panel believes that a two stage process is necessary starting with the FCA taking over responsibility for regulating credit under the Consumer Credit Act.  A second review would  further examine when it would be appropriate to move to an integrated Financial Services and Markets Act-based regime.

Adam Phillips, the FSA Consumer Panel’s chairman said :

“If the FCA is an effective consumer regulator, they would be able to intervene in the issues we have seen developing. A single regulator looking at all the conduct issues in financial services has to be a good idea.”

Gillian Guy, the Citizens Advice chief, said:

“It is vital . . . that not only lenders but also debt collectors, brokers, debt managers and retail lenders selling insurance products are regulated by a single body.”

Director general of the FLA Stephen Sklaroff said:

“Whether or not regulation transfers to the new FCA, the regime which the FCA will inheritin the deposit and savings markets is not appropriate for credit.”

A spokesman for Which? said :

“Key protections in the Consumer Credit Act must be maintained.”

A spokesman for the OFT said:

“The government needs to consider the evidence and determine whether and where change is needed. We are engaging with the government about what improvements we think would make a difference.”

This is another subject for discussion from my posting " A Business Model That's Just Plain Bad For Business"

Bad management runs rampant in organizations. For my discussion I will focus on Automotive Sales and Finance Management. I say this because this is epidemic in many Industries and I don’t want to appear to be singling out Automotive Dealerships.

All emotions stem from insecurity and must be controlled because it has no place in a work Setting. It is a disease that will eat away at and hold back any organization.

A bad manager will not hold on to good people and staff does not want to go to upper management for fear of retribution. This has devastating effects on performance of the department. Always be suspect when a manager says “What goes on here stays here” or “It’s my way or the highway”.

I cannot stress enough the need for companies to have a consultant come in once a year to audit the operations and make recommendations on improvements that could be made to improve profitability. Even if operationally things are functioning well, someone on the outside looking in can always see things that the entrenched management cannot that could mean a significant improvement.

There are many different factors that define a bad manager. One kind of manager is the one who is inconsistent saying one thing and doing another without explaining his actions and who is arrogant in believing they are always right and makes sure everyone knows it. This type of manager is often egocentric and makes every issue about them, doesn’t listen to advice offered but ignores it before even considering it. This inhibits the staff from even mentioning any ideas they may have and leaves them feeling helpless and feeling that nothing will ever be done to improve on a bad situation.

 These managers are also often self-centered and do not support, encourage or look out for their team. The worst are mean and abusive and make people feel bad for no reason.

Then there are managers who micro-manage and Refuse to delegate anything, despite what they say. This isolates them so they often don’t involve others in decisions and rarely look for ways to support or encourage the work of their team. This is often is caused by incompetence the lack of basic communication, intellectual, or emotional skills needed to for their role.

 

Then you have the complacent manager who is content with the way things are and is not open to change. They like things the way they are because they have become lazy or are thinking about other things. I once had a GSM that spent more time outside the dealership hobnobbing with hockey players from the Boston Bruins who were spokesman for the dealership.

I have also be part of organizations where a manager spent valuable company time in generating options as solutions to problem but the problem was created by this same manager. Incompetent managers create more problems than they solve and then waste time to solve the same problems they created in the first place.

Posted By Bill Cosgrove
http://dealernetservicesonline.biz