!!! Luxury!Institute s!21 st!century!career!advice!you!can t!afford!to!ignore:! An!Open!Letter!to!Luxury!Retail!Sales!Associates!!!
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- Bartholomew Baker
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1 LuxuryInstitute s21 st CenturyCareerAdviceYouCan taffordtoignore: AnOpenLettertoLuxuryRetailSalesAssociates ByMiltonPedraza,CEOoftheLuxuryInstitute,LLC (NewYork)April6,2016 InastalledU.S.economywheretheaverageyoung workerintheu.s.earns$33,000peryearandfailstoreceiveannualincreases, wherecananeageryoungmillennialwithoutatopcollegedegreethrive?look nofurtherthantheluxuryretailindustry,whereassociatesstartat$15l20per hourinaneyecandyretailenvironmentandoftenearnmuchmorewith commission.ifyoumasteryourcraft,youcanearn$100,000plusbenefitswithin 5L7yearsandrisetoaseniormanagementposition.Mostprofessionsneverget closetotheadvancementopportunitiesavailableintheluxuryretailindustry. WhatdoesittaketosucceedinhighLendsales?Thetopearnersofluxury salespeoplewilltellyouthatthekeytotheirsuccessiscultivatingclose relationshipswiththeircustomers.humanbeingsareinherentlysocial.one leadingpsychoanalysttellsluxuryinstitutethathumanscravethreethingsto surviveandthrive:safephysicalandmentalspaces,trustworthyhuman connections,andemotionalandmaterialrewards.aharvardstudyofpoorand affluentmalesthathasbeenconductedsince1938confirmsthatwhatmakesa lifeworthliving,regardlessofwealth,comesdowntoonlyonething:therichness ofyourhumanrelationships.thatincludestherichrelationshipsweformthrough ourwork,wherewespendmostofourdays. Luxurybrandsarefinallystartingtounderstandthatthetraditionalconceptof sellingdemeansthehumanbeingsonbothendsofthetransaction.initsplace, luxuryisnowstartingtofocusongenuinerelationshiplbuildingastheessential skillindrivingsalesresults,whichrequiresaleapinmindsetandinbehaviors. LuxuryInstitutehasmasteredtheartandscienceofhighperformancein relationshipbuildingbyconductingempiricalresearchinfieldsincludingthe military,aviation,medicine,education,sports,behavioralandpositive psychology,aswellasourownlaboratoryofdozensofsuccessfulclient engagements. Howdoyou,asasalesassociate,developyourselfintoamasterrelationship builderwhocanearnsixfiguresinaluxuryenvironment?hereare7candid recommendationsfromluxuryinstitutethatcanhelpyoudesignalifeworth livingandfullofmeaningandpurpose,allwhileearningagreatlivinginsidea luxuryboutique:
2 1.EngageFullyatWork Employeeengagement,likemindfulness,isanewfadthatconsultantsareusing toenticeclientcompaniestoengageemployees.fewerthan30%ofu.s. employeessaytheyarefullyengagedatwork,accordingtoa2015galluppoll, whileonly13%areengagedglobally.ofcourse,itwouldbeidealifyour companyhadagreatenvironmentthatinspiredyoutothrive,butfewdoand mostneverwill.gallupalsotellsusthat70%ofthevarianceforemployee engagementisduetoyourdirectmanager.ifyouareextremelydissatisfiedwith yourmanager,youprobablyhavetoleave.however,asmarshallgoldsmith,one oftheworld smosteffectiveceocoachestellus,itisultimatelynotthe responsibilityofyouremployertoengageyouatwork.theprecioustimeyou spendinaretailboutiquebelongstoyou,notyouremployer,soownit.itis entirelyyourresponsibility.ifyoufeelyoucanworkwithyourmanager,evenif theyarenotagoodleader,thenyoumustfullyengageandundertakethesteps belowwithpassion,disciplineanddetermination.noonecangiveyouthe motivation,soyoumustdaretomakethatadolitlyourselfproject.ifyoufailtodo so,theheavydamageisnottoyouremployer,ortheclients.theywillgetoverit, yourlifewon t. 2.RedefineYourRoletoFitYourHumanity Inafascinating2010studybyanindependentresearcher,hospitalworkerswho cleanedfloorsandsanitizedpatientroomswereaskedtodefinetheirjobs.while mostusedtechnicaltermsbasedontheirsoullessjobdescriptions,afewofthem definedtheirjobsashelpersofthesick.thosewhodescribedthemselvesas helpersofthesickwentaboveandbeyondtheirjobdescriptionandconsistently performedunexpectedactsofkindness,suchasswitchingthepicturesonthe wallsofhospitalroomshopingtohelprevivecomapatients.theirjobsatisfaction and,mostimportantly,performancefarexceededthatoftheothers. It snotpart ofmyjobdescription,butit spartofme, saidonehighlyengagedemployee whenaskedwhyshebehavedinsuchacaringway.askyourself,whatgreat qualitieslikeempathy,trust,andgenerositycanyoubringtoworkeverydaythat arefundamentaltowhoyouareasahumanbeing?then,rewriteyourjob description,justforyou,toincludenotjustwhatyoudo,butwhoyouare.you ll findthatyourhappinessandyoursalesnumberswillincreasedramatically. 3.BeaGiver,NotaTaker Insteadofhelpingsalesassociatesbecomemasterrelationshipbuilders, traditionalluxuryandretailsalestrainingprogramstrytobrainwashsales associatesintobecomingassertiveandaggressiveinhelpingaclientpartwithas muchmoneyaspossible.auniversityofpennsylvaniaprofessor,adamgrant,
3 hasconductedempiricalresearchonhighperformanceinmanyareasof business,includingsales.grant sresearchunequivocallydemonstratesthat enlightenedgivers, whoaimtoprovideservicetoothersbuthavesafety boundariestodeflectpredators,generate50%morerevenuethaneither takers, whofocusontheirowngainandtakeadvantageofothers,and matchers, who giveonlywhentheyexpectsomethinginreturn.inawinnerltakelallsociety,itis easytofallintothetakerormatcherrolesforfearthatyouwillbetaken advantageofbyselfishandgreedypeople.thereisalsoadefiniteriskofbeing agiverwithoutdevelopingastrongsenseofboundaries,whichwillultimately leaveyouwithnothing.however,beinganenlightenedgiverisaskillyoucan easilymasterandapplytoanyprofession,especiallysales.yoursalesnumbers andreputationwillclimbasteepupwardtrajectoryifyoumakeupyourmindthat youwillalwaysgivefirsttoyourclientsandpeers,whilebeingmindfulof protectingyourselffromtakers. 4.SetYourOwnHigherStandardsofPerformance Yourcompanysetsyourweeklyandmonthlysalesgoalsforyouthatsometimes lookunreasonablegiventhedownwardtrendintheluxuryindustry,andyouhave nosayinthematter.highachieversdon tmeasuretheirperformanceagainstthe goalssetforthembythecompany.instead,theymeasurethemselvesbytheir owntalentsandpotentialtodevelopintotopperformers.theyknowthatwhat anyhumancanmasterandachieveinluxurysales,theycanachievetoo.no matterwhatgoalssomeonemightsetforyou,setthemhigherandthenmakea planforoverachievingthem.dothisforyou,andnooneelse.itwillbehardat firsttobelievethatyoucanachieveyourownhighergoals,butonceyouset thosehighgoalsyouwillunleashawaveofpersonallearningandcreativity.you musttakethetrainingprogramseriouslyandlearnfromthetopsales professionalsinthestore,andsurpassthem.insteadofcomplainingorworrying aboutthegoalsyourmanagersets,makeupyourmindtooutperformthem,and thentakemassiveaction.thewinnersknowthatsuccessisaboutpleasure,not pressure.thisincludesthepleasureofmakingclientshappybylisteningtothem andgivingthemwhattheywant,aswellasthepleasureofreachingoutwith sincerityandpassion.transformingyourselfintoaluxuryretailexpertwho deliversempathy,trustworthinessandgenerositytoclientsandpeerswith pleasurecanearnyousixfiguresandbeyond. 5.OwnYourSuccessBehaviorsandMetricsDaily Oneofthebiggestmistakescompaniesmakeismeasuringonlytheoutcome metricsofsalesassociatessuchasconversion,retentionanddollarvalueof sales.whilethosearenecessary,theyareonlyresults,notthecriticalroot causesofhighperformance.whatyouhavetodoforyourself,evenifthe
4 companyfailstodoso,isdeviseandreliablyexecuteasetofcriticaldaily behaviorsandmetricsthatleadtogreatsalesresults.askyourselfexactlywhat youcandotoearnthetrustofclientsandprospectssothattheyvolunteer actionableinformationthathelpsyouservethembetter.discoverthebehaviors youmustexhibitandmeasuresothatwhenpeoplecometoexchangeorreturn, theyactuallybuymore.findoutwaystoreachouttoclientsandprospectsso thatyoucanbookfutureappointmentsorinspireclientstomakepurchasesfrom compelling sortexts.explorewhatworksandwhatdoesn twork,thenbuild dailymetricstotrackaccordingly.respectyourselfenoughtobecompletely honestwithyourselfinmeasuringcyoudeservethat.youownyourbehaviors andyouownyourmetrics.trytobeateamplayerandshareyourmethodsand metrics,butifyourmanagerorothersaredisengaged,focusonyourown behaviorsandmeasurethemmeticulously.ifthereisnocrmsystem,usean excelspreadsheet.useanotebookandpencilifyouneedto,butdoit.thatis yourhighperformancegifttoyourself. 6.GetYourselfaGoodCoach MarshallGoldsmith,thegreathighLperformanceCEOcoach,pointsoutinhis fabulousbook,triggers,thathumanbeingsoftenlackthreecriticalingredients forachievinggreatresults.first,theylacktheabilitytoevaluatethemselvesand othershonestlyandobjectively.second,theydenytheneedforassistanceand structurerequiredforpeakperformancecandthird,theyunderestimatethe willpowerrequiredtomakepositivechanges.thisiswhyenlistingtheassistance ofanexpertcoachiscritical. Coaching,donewell,maybethemosteffective interventiondesignedforhumanperformance, saysdr.atulgawande,an accomplishedharvardsurgeonwhostudieshighperformancesystems. Coachingisafineartandascience.LuxuryInstitutehashelpeddozensofluxury brandstodevelopprofessionallgradecoachesinlhouse,andistryingtoconvince theluxuryindustrytoinvestintheeducationandcertificationrequiredtotruly transformstoreandcallcentermanagersintoevidencelbasedprofessionalgrade coaches.untilthathappens,youmusttrytofindyourselfanindependentcoach. TherearemanyfakecoacheswhoarecertifiedbydodgypayLtoLplayuniversities andassociations,andfewcandeliveranyverifiableevidencethattheyhave achievedresultsforclientsintheluxuryretailprofession.goodcoachescanbe hardtofind,buthavingacoachisahugesuccessfactor.whenyoufindacoach whomyouadmireandrespectfortheirprovenretailresultsandhumanity,invest inyourselfandhirethem.theinvestmentinagreatcoachwhohelpsyou confrontreality,developasuccesssystem,andempowersyoutofindyourown effectivesolutionsmorethanpaysforitselfinhugemultiples. 7.LiveSuccesswithHumility
5 Ifyoufollowtheserecommendations,youwillreachthelevelofatopLperformer. Whenyoudo,youmaybetemptedtobecomearrogantandproud,butavoidthat temptation.jimcollins,authorofgood*to*great*andgreat*by*choice,pointsout thathumilityisthexlfactorofhighperformers.accordingtocollins,thetruly greathumanbeingscombineintenseprofessionaldrivewithgenuinepersonal humility,continuingtolearnandimproveevenatthepinnacleoftheirprofession. ResearchfromtheUniversityofWashingtonrevealsthathumilityisnotjusta greathumanquality,butalsoacompetitiveadvantagebecausepeoplewho demonstratehumilityarehigherachieversandbetterleaders.whenyoureach thatlevelofamasterrelationshipbuilder,withthesalesandpersonalincometo proveit,continuetobeagenerouslearnerandteacher.doorsthatleadto greateropportunitieswillopenwideandoften,eveninunexpectedplaces,as yourstellarreputationgrows. InhisbookTalent*Is*Overrated,renownedFortuneSeniorEditorGeoffColvin demonstratesthroughempiricalresearchthat greatperformanceisinourhands farmorethanmostofuseversuspected. Thefactthatmostofuscancontrola greatdealofoursuccessbybuildingourskillsisgreatnews.thebadnewsis thatifyoufailtoachievehighperformanceinyourchosencraft,youhavenoone toblamebutyourself.colvingoesoninhisothergreatbook,humans*are* Underrated,todemonstratehowinthe21 st century,ascomputerstakeover manytaskspreviouslydonebyhumans, beingagreatperformerisbecoming lessaboutwhatweknow,andmoreaboutwhatwearelike. Hestatesthatthe mostvaluableworkersinthe21 st centuryarerelationshipworkers.relationship skillssuchasgenuineempathy,trustworthinessandkindnessareinhuge demand,andtheycanbelearnedandmasteredbyalmostanyone. Fastforwardtoyourfinaldayonearth.Whatwillyoubeabletosaytoyourself abouthavinglivedyourlife?willyoubecountinghowmuchmoneyyouearned? Orwillyoulookbackontherelationships,personalandprofessional,thatwere thecornerstonesandjoysofalifeworthliving?theansweriseasy,anditisall inyourprecioushands. AboutMiltonPedrazaandLuxuryInstitute,LLC MiltonPedrazaistheCEOoftheLuxuryInstitute.Overthepast12years,Milton hasestablishedtheluxuryinstitute,firstandforemost,asahighlperformance clientrelationshipconsultingfirmservingmorethan1,000luxuryandpremium goodsandservicesbrandsacrossdozensofcategories.theluxcelerate Systemhashelpedbrandssignificantlyimproveclientdatacollection, conversion,andretentionrates.inaddition,theinstitutehasconductedmore researchwithaffluentconsumersthananyotherentityintheworld.
6 MiltonadvisesandcoachesluxuryCEOsandadvisestheboardsoftopLtier luxuryandpremiumbrands,aswellasluxurystartups.heissoughtafter worldwideforhispractical,innovativeandhumanisticinsightsand recommendationsonluxuryandisthemostquotedgloballuxuryindustryexpert inleadingmediaandpublications. Miltonisalsoanauthorityoncustomerrelationshipmanagementtechnologies, analytics,andbigdata.priortofoundingtheluxuryinstitute,hissuccessful careeratfortune100companiesincludedexecutiverolesataltria,pepsico, Colgate,CitigroupandWyndhamWorldwide. MiltonwasborninColombia,raisedintheUnitedStates,andhaslivedinseveral countries.hehasconductedbusinessinover100countries,andspeaksseveral languages. For*more*information*and*additional*insights*visit* contact*luxury*institute*ceo*milton*pedraza*directly*with*questions*
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