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A Review of Jeffrey Gitomer’s “The Little Platinum Book of CHA-CHING”
By JLP | November 12, 2007
Here’s a quick review of Jeffrey Gitomer’s The Little Platinum Book of CHA-CHING! – 32.5 Strategies To Ring Your Own (Cash) Register of Business And Personal Success
The Little Platinum Book of Cha-Ching! is an expanded and revised edition of The Patterson Principles of Selling
What are the Patterson Principles? Here’s a list of the 32.5 principles that are covered in the book:
1. Think!
2. Self-belief
3. Positive mental attitude is determined by you. Not others.
4. Boot camp separates the winner from the wanna-be winner.
5. Survival and success are a combination of knowing and doing.
6. Studying. The first discipline of knowledge.
7. Your library is the artesian well of knowledge.
8. Planning prevents wandering and provides direction.
9. Use “today time management.”
10. Prospect for probably purchasers to build your business organically.
11. Increase business connections to increase sales.
12. Creating the demand converts selling to buying.
13. A prepared demonstration means personalized.
14. Gain interest with information about the customer.
15. Questions lead to answers. Answers lead to harmony. Answers lead to productivity. Answers lead to customers.
16. Listening leads to understanding
17. Less sell-talk-time lead to more-buy-time.
18. Your message must be as compelling as your product to engage anyone – especially your customer.
19. An objection is the gateway to a sale.
20. Selling is not manipulating; selling is harmonizing.
21. Complete the sale with an agreement to buy and be certain to give them a receipt
22. Service is the reputation for the next sale. And the basis for a loyal customer.
23. Extra service leads to the “testimonial word.”
24. Referrals are better earned than asked for.
25. Advertising brings awareness. Testimonial advertising brings customers.
26. Success in business is not just about people, it’s about GREAT people.
27. Competition means prepare to be your best.
28. Recognize and thank those who have helped you succeed.
29. To get loyalty, you must GIVE loyalty.
30. Decide. It doesn’t matter if it’s right or wrong. Decide!
31. You become known by the actions you take. Take ethical actions.
32. If you have done your homework and prepared well, it will be evident in your success report card.
32.5 If it has been working for 100 years or more, don’t even think about changing it.
Essentially, this is all about common sense.
The only principle I have a hard time with is: 25. Advertising brings awareness. Testimonial advertising brings customers.
I understand the power of a testimonial as long as it comes from a reliable and trustworthy source. In other words, testimonials that I see during an infomercial have no clout with me because I don’t know those people from Adam and I also don’t know if they have been paid to give their testimonial. However, if my neighbor sang the praises of a particular plumber they used, I would definitely consider using that plumber.
Anyway, as the title suggests, this is a little book. It can easily be read in one sitting but I don’t recommend it. I recommend you read a couple of chapters a day and let them sink in. Or, if you like to read fast, read it all in one sitting and then go back an reread it at a slower pace.
One thing to remember while reading this book is that principles don’t change, which should be evident in the fact that that the Patterson principles were written nearly 100 years ago. It’s pretty amazing to think that our great grandfathers and great great grandfathers could have studied these exact principles on their way to business success.
The Little Platinum Book of CHA-CHING!
To learn more about Jeffrey Gitomer, visit Gitomer.com
Topics: Books | 4 Comments »
November 13th, 2007 at 8:50 am
Hey, what about your great grandmothers and great-great grandmothers?
I bet they benefited too!
November 13th, 2007 at 9:47 am
Stacey,
Of course you are right. I guess I should have written “great grandparents” and “great great grandparents” so as not to be gender-specific.
Forgive me?
November 14th, 2007 at 10:14 pm
Still thinkin’ about it….yeah, of course!
February 17th, 2008 at 3:48 pm
You recommend this book? As you say, principles do not change, but in reading Gitomer’s attempts to “update” John Patterson’s principles in order to make them relevant today, he not only changes them but often contradicts the original meaning. Why dilute Patterson’s powerful message by restating it badly? But, it was such a pretty little book, I couldn’t wait to put it on my bookshelf. Good thing I read it quickly enough to return it! Those hours spent reading it–in suspended disbelief, I might add–are lost to me forever. My only way of making the lost time worthwhile is to spread the word to others not to bother reading it. Case in point: read the chapter on employment. He actually recommends that employers give their employees $100 cash for making really big blunders. It’s one of his proudest moments as an employer to reward “risk”. I am also an employer, and I can tell you from experience that rewarding stupidity is the fastest way to lose your business and not at all what John Patterson is saying–on the contrary–he says to reward excellence! To sum up my impression (having read it cover to cover), you can get better business advice from a drunk at your nearest tavern. Sorry to disagree with you. My recommendation: get a reprint of the original Patterson book.