Businesses use acronyms because they are easy to remember. Acronyms help us retain key information. Acronyms are also an efficient way to communicate with customers, staff, suppliers, and advocates, which is why they are used extensively in every industry.
Acronyms can save lives like DRSABCD, representing danger, response, getting help, airways, breathing, CPR, and defibrillator. Salespeople are good at using acronyms to simplify complex information. In this business blog, we look at one particular acronym, PASSION.
We have not invented the word, nor did Wayne Burgan, who used the word “Passion” as an acronym to remember what it takes to get more sales and business success.
Wayne’s breakdown of the word “Passion” is below and make of it what you will. While you may not agree with every word Wayne has used, for example, you may wish to swap out ‘incentive’ with ‘inspire’; all the words used are relevant to sales acquisition, and remembering this acronym will keep you focused on your goals.
Do the acronym PASSION work for you as a small business owner?
P is for “Purpose”
Your whole reason for being in business can be considered your purpose. Are you in business for fame, fortune, or to help people? Whatever it is, your goal keeps you getting up each morning, even when all your effort produces no results.
A is for “Attitude”
Michael Gerber (the author of The E-Myth) has a saying: The fish stinks from the head down. What it means is good or bad company culture or actions starts at the top – i.e., the leadership in a company. Therefore your attitude to your business reflects on everything including staff management through to how you treat your customers and suppliers.
Remember: A positive attitude equals positive results.
S is for “Service”
Provide outstanding service, and your customers will ‘sing your praises,’ i.e., talk about you. Nothing is more powerful in marketing than a third-party endorsement. Social Media has empowered consumers to share their experiences, ensuring they share positive feedback about your business.
S is for “Sow”
Have you ever heard the term: you reap what you sow? As a business owner, keep learning and sharing knowledge and experiences with your team. Never think for a second that you can rest on your current successes, as failure always appears to the person who thinks their business needs no more improvement.
I is for “Incentive”
Keep the incentives flowing within your business to help fuel your inspiration. Your incentives could be financial. However, other ways to show appreciation include giving a star employee the afternoon off or a non-monetary award like a badge or trophy.
Customers also need to know you value them, especially in times of change. Offer a discount on their next purchase, or add a gift to their purchase. We all need incentives to stay connected and focused on a brand.
O is for “Ownership”
The success or failure of your business is most often with you – the owner. Mistakes happen. We all accept that. However, how you and your company respond to errors determines what happens next. Own up to all mistakes, implement a resolution, and be transparent about how your business will respond next time and then move forward. Staff and customers always respect business owners who take responsibility for their actions.
N is for ‘”Never Give Up”
Never give up – it is more complicated than you think. Plus, choosing a different path and closing the business sometimes makes sense. However, there are positives in all constructive action, and failure is part of success. Every successful person in business, sport, academia, and life experiences failure on the path to success.
What acronyms do you use to inspire and motivate your staff? Continue reading our articles on mindset and employee motivation.