Big Problems Costing Executives and Businesses Profits

Home Memory News Big Problems Costing Executives and Businesses Profits

Top Problems Costing Business Executives Profits, Productivity, Sales and Growth. They can be fixed (easier than you think.)

Losing Money in Business

 

 

 

 

 

 

 

 

 

 

 

 

Businesses are losing money every day. Some are easy to fix and others could take months or years to fix.

Here is the frustrating thing. The challenges and problems below are real and slow business killers but also have easy fixes.

1. Businesses are built on relationships. Not being able to remember names and faces can cost a business

How many times has it happened to you? You shake someone’s hand and 2 seconds later you can’t recall their name? It happens to everyone but when trying to close big deals it can be a big problem and doing things like repeating the name 3 times in a conversation seem too obvious. Here are some solutions for remembering names

2. Not being able to speak with confidence to groups

It’s one of the biggest fears of most people and that is being standing in front of a group to speak. But as a business executive you really can’t afford the luxury of saying, ‘I’m not good speaking in front of groups.’

How much business are you losing because you get nervous speaking in front of groups? How many opportunities do you decline because you would have to stand in front of a group? Are you seen as the go to person to talk in front of the group because of your polished skills? If not, what is this costing you?

How many times do you walk off stage and say to yourself, ‘Oh no! I forgot to tell them about XYZ!’? This does not have to happen. One of the quickest and easiest ways to gain confidence as a speaker and confidently know that you will not forget anything is using what is known as the Mind Palace.

With this method you use pieces of furniture in a room and use these as cues for your speech.

For example if you want to give a speech with the points

  • Increasing profits
  • Managing time effectively
  • Improving communication
  • Business Growth
  • Reward employees
  • Set goals
  • Improve organization
  • Work together as a team

Then you could use the Mind Palace technique. Memorize spots around your room and then in these spots see images for the points of your speech

  • Increasing profits – See a prophet of $$
  • Managing time effectively – Clock
  • Improving communication – Telephone
  • Business Growth – Plant growing
  • Reward employees – Reward sign
  • Set goals – Goal post
  • Improve organization – Organizer
  • Work together as a team – Sports team

To see what I mean by using the Mind Palace to memorize these points check out this video

3. Everyone in your company not being able to remember sales presentations

In the 1990s I was contracted by a Dallas auto dealership to teach the salesmen memory training. Not just to learn memory training but a bigger reason. The dealership over the course of the previous year had invested $30,000 in sales training yet the salesmen weren’t using it. They simply couldn’t remember it. The sales training had logical steps they were to ask the customers but when in the pressure situation of talking with customers everything went out the window. They couldn’t recall it. $30,000 of training and 3 days in a training room was down the drain. NOTHING recalled.

Then I came in and taught the salesman the Mind Palace (mentioned above). Once they learned it we turned the dealership into a Mind Palace to remember their sales training. Their sales increased because they were remembering the sales training.

4. Wasting 2 days and $$$ at a conference and not recalling anything 1 week later

Answer this honestly:

The last conference you attended can you list 10 points you learned from it? If so, do you think that is above average? It is. Very much so.

Most in your company will attend your annual conference and what they remember are the conversations at the bar. They may recall one or two point from the conference but is that really what you are hoping for when you invest $100,000 in a conference (hotels, meals, speakers, audio, banquet fees, etc)?

A computer company held a conference in 2006 and 6 months later they tested the employees on the retention. It was less than 5%. They had invested $200,000 in this conference easily. The next conference I was their keynote speaker and taught them the Mind Palace (video above). We then took the material they learned at the conference and put it in our Mind Palaces. Imagine someone asking you what you learned at the conference and you saying, ‘Would you like it forwards or backwards?’ and then listing off 50 points (no joke)

5. Retraining employees on materials they should know

You sent your staff to 3 days of training when they started the job or the company adopted new procedures.

Now they are confused.

Can’t recall

Need retaining.

I hate to sound like a broken record but the Mind Palace technique above could solve this. I remember being in Navy bootcamp in 2003. I was placed in charge of Fire Control (a fire is the worst thing that could happen on a ship). We learned a procedure of 6 steps to do when a fire erupts. I placed them on my Mind Palace and then they put us in a stressful real life fire situation a Petty Officer (Navy equivalent to an Army Sgt) got in my face and said, ‘What are the 6 steps?!?!?!’ I calmy went back to my Mind Palace and listed the 6 steps. He took a step back shocked I was able to recall in this stress. It was easy using the Mind Palace.

Here is my advice to you:

Make sure EVERY employee is trained on the Mind Palace (video above). Then when they have their trainings they can take the 20 or 50 things they want to recall and place it there. This will save time and money retraining

These items are costing businesses every single day. And they can be fixed easier than you think. The solution could actually be learned in 4-5 hours.

My name is Ron White. I am a 2 Time USA Memory Champion. Since 1991 I have trained businesses on learning these skills.

I hope you take notes and implement my suggestions above but if you would like more in depth training on this I can come to your location (anywhere in the world. I have taught this in over 40 countries).

Fill out this form to have me teach this at your company to:

– Just you in 1 on 1 coaching

– Teaching a small workshop for your top level executives

– A workshop for your entire company

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