BP to raise $1.1bn from North Sea field sale

London, Dec 6, 2012: BP sells its stakes in its North Sea oil and gas fields for $1.06bn (£663m) to an Abu Dhabi’s energy group. Prime Minister David Cameron said agreement positioned the North Sea as a global energy hub and the takings from the deal will help cover huge amounts from the 2010 Gulf of Mexico oil spill.

Abu Dhabi National Energy (Taqa) will get hold of stakes in the BP-operated Harding, Maclure and Devenick fields. He said that the deal would show that changes to the North Sea tax regime are will help to generate jobs in Scotland and UK, making sure we do well in the global race. Chief executive of Taqa, Carl Sheldon, said the deal would add 21,000 barrels of oil equivalent a day to its output. Peter Hutton, energy analyst at RBC Capital Markets says the disposed assets produce 40,000 barrels of oil equivalent a day. Continue reading

8 Trends in Sales and Sales Coaching for 2013

The rise of the “expert” seller

It’s been coming for a few years and 2013 will see their recognition in the field of sales. The “expert” seller also known as the accidental salesperson.

Customers need expertise from salespeople; they need something of value compared to the old days. Adding value to the sales relationship has been sought otherwise the product or service that you’re selling will be commoditised and bought on the internet or via procurement software packages.

2013 will see the expert salesperson gaining in credibility and effectiveness as sales teams realise they need expertise as well as the ability to communicate, run a sales process and help the customer solve their problems, pains and challenges.

Salespeople will fuse into experts who sell.

Cloud based CRM

Cloud based CRM is not a new idea. CRM or Customer Relationship Management software has gradually migrated from desktops to the cloud. Once there, it changes everything.

Put simply, successful sales people and their managers run their business lives through their CRM software and they do it on the move. Using mobile devices – phones, tablets – salespeople can log their calls and visits, update the customer profiles, communicate, forecast their pipeline, chat to each other and keep focussed on their sales goals and activity. Meanwhile the sales managers and support teams can work alongside the salesperson to benefit the customer.

2013 will at last witness salespeople seeing the benefit. As a result, they’ll update the CRM more regularly than the past and reap the benefits.

Online video

The vast majority of websites are stationary, still, lifeless. Online video will see a considerable growth in 2013 in the field of sales and sales coaching. Online video is being increasingly consumed using mobile devices such as your phone or tablet, which makes it easier to view. Video can be put out on YouTube, websites, Facebook, Tweets and companies will want to seriously consider putting out more video in 2013. Not the stale corporate stuff but videos of the people, the humans behind the product and service.

More of us will be creating short snippets of video and letting their customer watch the video rather than read an email or written note. Proposals can be accompanied with a video of you talking through the key points or if a customer has asked for more information, send them a video showing how the product works or can help them. Not from the shelf but created fresh.

SoLoMo

A new buzz word for 2013. Social, Local, Mobile. It means that customers want to consume from you in a social manner, using social media, locally, so bespoked to their personal needs and mobile, so they can use their mobile device to communicate with you.

This is a seriously scary trend brought about by mobile device popularity and their ability to locate wherever you are to a metre. Consumers want advertising to be local to them, delivered via their phone and done socially. So a parking ticket bought by your phone, ensures a pizza special deal is made available to you and your tribe. Coffee at the building society branch is available to you and a chance to chat through your loans, but only if you want to pop in, after all you’re only 10 metres away as you pass.

Bulk advertising, expensive TV commercials, mass mailings, eShots… all maybe a thing of the past!

Google Live Hangouts

This is a serious game changer for salespeople and sales managers. 2013 will see the move towards proper video conferences where people can look each other in the eye as they talk to one another; watch some body language and plenty of facial language to help communicate with each other.

Google hangouts works with their social media site – Google Plus – not as popular as Facebook but the same concept. You can start a hangout with anyone in your circles, up to 10 people and have a meeting, a conversation, a hangout with each other on screen. The videos of each person will be shown to everyone on the hangout. Everyone can talk, listen and enjoy.

You can also opt to have the whole thing live screened to YouTube. Suddenly the game changes. You can have as many people as you want view the hangout on your YouTube Channel and once it’s over, a recording will be automatically posted to your channel.

For sales managers I can see this technology being used to run sales meetings, run client meetings just like Webex is being used today. The main difference is video and the use of mobile devices, after all, Google + and YouTube needs no additional software. As salespeople merge into experts who sell, the live video can be used to demonstrate expertise, teach, educate and promote on a local level.

Watch this one; it’ll impact you in 2013.

The decline of email

Email use is declining and 2013 will see this trend accelerating. Viruses, Spam deluged folders haven’t helped but the greatest impact is on the younger generation’s use of email. They just don’t dig email.

It’s not going to disappear overnight and will remain hugely important but the message for 2013 is… discover another way to communicate online with your customers. This may be via social media or Socmed as it’s known, texing ironically works well, Skype, YouTube, phone.

Total selling

I first heard the term in the 1970’s with the Dutch national soccer team. Total football it was known as, then total rugby came in the 1990’s. It means that everyone can play any position and helps the game to be quicker, more fluid and exciting to watch.

Total selling involves everyone in the organisation to be involved in the sales process and each person knowing what the other person is doing. The CRM helps here. More companies will train their staff in all aspects of the sales process and it’s they that will develop the competitive advantage.

Gamification

Another new buzz word for the 2013’s – Gamification – taken from the burgeoning gaming market.

I was reading the Economist this week – the gaming industry is now worth $67 billion rivalling the movie industry. Games offer excitement, entertainment, challenge and the ability to win and it’s this Gamification that will effect selling and sales management in 2013.

How will the trend evolve. Communication with customers, whatever the means, will become more gamified and consumers will want their messages delivered in this way.

How much entertainment, reward and stickiness does you current communication provide to customers and sales teams alike?

In sales teams, sales managers will be considering how to gamify sales meetings, sales trainings, the annual conference, web meetings. In their new book “For the Win”, Werbach and Hunter argued that future communications can be enhanced by gamifying. Games have distinct ingredients and so will our messages.

I talk about WIPEing the message.

 

  • W is for win, can the activity that you create to communicate allow them to win something?
  • I is for instant feedback, how can the group players get instant feedback?
  • P is for points or badges to signify progress and success and
  • E is for excitement, which tells it’s own story

 

Sales people might be considering their sales messages to customers and how sticky these are? Particularly their online messages and communications, can they add an element of WIPE to the way it’s delivered. If they don’t others will and gain a competitive advantage.

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What is a REIT?

https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcRYBAHkwnarbu9LPlb2LxrGMWeav02EJTXNXcGneJmmLBFq_BZKREIT is the acronym for Real Estate Investment Trust. According to the National Institute of Real Estate Investment Trusts 190 Re Its are currently registered with the SEC and trade on one or more of the New York Stock Exchanges. There are over 900 REITS that are privately held companies.

The advantage to investors in the REIT is the source of income it provides. Specifically, due to the structure of the REIT it does not accrue corporate tax, instead it returns all of the taxable income to investors. The investor receives a 1099 form for tax purposes and it is therefore taxed like additional income.

The REIT can be designed to fit almost any scenario available in the real property world. It can play the upside and the downside and provide hybrid type coverage. Primarily the REIT is composed of commercial property including shopping malls, apartment complexes and income producing property. It also is packaged with residential real estate of a particular type. Continue reading

Real Estate Basics

https://encrypted-tbn2.gstatic.com/images?q=tbn:ANd9GcQDyPx3TOKhs-f2Y6-Cye0Uv6rRV6I9rEH-qus7RCpereKL-tOmoAThe term real estate is used to refer to any property, which is permanently attached to land such as buildings and houses. Most people refer to it as real property but there are situations wherein the term real estate is used for the land and the building together while real property refers to the ownership rights of the land itself. On the other hand, the word real is used to categorize these properties as things as opposed to people. Records show that the idea of real estate can be traced as far back as 1666. With the idea of personal property becoming more widespread, real estate has become a major area of business in the United States. In fact, economists claim that the reason for the recent economic slump is due to the lower revenue generated by this industry. Most people land and buildings as an investment. Our investment experience shows land in the ultimate investment, while buildings tend to depreciate after 10-20 years. Continue reading

What is a Hedge Fund?

https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcRYkDhqX6zw5pz1rumFOVXasxyg1r8vQOGj5Qsml5_uYwHQYgP-A Hedge Fund is private investment fund which provides a hedge against market conditions and tries to make profit from buying/selling hedged positions. The Hedge Fund is not simple in practice. On a global basis there is over a trillion dollars of private investment capital that can literally invest in any commodity, currency indeses and stocks and bonds. Unlike traditional investing the Hedge Fund may go long or short the market. It is private equity and therefore the gains on transactions for fund owners is taxed differently that normal capital gains taxes.

A typical Hedge Fund is formed by individual investors who have a stake in the fund. The buy-in is in the millions. Noted Hedge Fund owners are George Soros and the Blackstone Group founded by Peter G. Peterson and Stephen A. Schwarzman. The Blackstone Group is a fairy tale. The Blackstone Group was founded by Peter G. Peterson and Stephen A. Schwarsman. According to the Blackstone Group corporate biography the iniital private funds in 1985 were $400,000. By forging alliances and partnerships with some of the most well-heeled on Wall Street their assets under management are over 88.5 billion dollars. Continue reading