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Andhra Pradesh CID Additional Director General of Police Ch Dwaraka Tirumala Rao has called for steps to deal with non-financial institutions indulging in fraudulent practices and protection of customers who invest money therein.

Rao was speaking at one-day seminar organised jointly by AP CID and Reserve Bank of India here.

During the event, discussion was held on legal action that can be taken against non-financial institutions, including chit funds, which indulge in fraudulent practices.

He said the main objective is to protect the customers from losing money at such institutions.

Various officials from RBI, legal advisers, public prosecutors, and police officials participated in the seminar.

By Doug Dvorak

Your livelihood as a sales professional depends largely on the levels of trust and credibility you build with your prospects and customers. Try these tips and tactics to improve your credibility and trustand boost your sales.

1. Relate to Your Customers

As a sales rep, you should try to connect with your customers on both a business and a personal level. When you try to see things from their point of view, you will come up with better solutions to their problems. And when customers see that you are genuinely interested in them, they will begin to trust you more.

2. Be Credible

As a sales professional, your credibility is your livelihood. When people invest money in something new, they look for reliable and credible sources. A way to demonstrate credibility is by having good references. When a prospect calls your references and hears positive things about you, the credibility of you and your company increases dramatically.

3. Be Truthful

By speaking truthfully and acting as a trusted advisor, you will earn more respect and trust. When prospects respect and trust you, they are easier to work with and are generally happier clients.

4. Train

Being trained in new and basic sales methods is crucial to your success. For example, someone who runs two miles every day for a year will easily be able to run two miles any day of the week; the same applies to a salesperson. A sales rep who trains on basic selling etiquette and new sales techniques consistently will be able to sell their product/service more easily compared to those that dont. Also when you train, your confidence will increase and you will be able to gain the trust of your clients or prospects with greater ease.

5. Research

Performing proper research has many benefits. Researching your prospects will allow you to:

  • Connect with your prospects/clients on a deeper level.
  • Build greater confidence.
  • Help you come up with better solutions.

When you research and learn more about your prospects and how your product/service can help them, you are showing a high level of commitment. This commitment to excellence and deeper knowledge builds trust.

6. Have a Good Attitude

In sales, having a positive and confident attitude pays dividends. Your attitude will shine through in everything, from your appearance to your proposal.

7. Tell a Story

By engaging your clients or prospects in a story, you force them to use their imagination. When people are using their imagination, you can gain and hold their attention more easily. The level of engagement increases tenfold when your story is persuasive and is directly related to a prospect.

8. Ask for the Sale

Professional sales reps close their sales, and most of the time they do this by asking for the sale. You must always ask your prospect to move forward to the next step. Many sales are lost simply because a sales rep never asked for the sale. Leaving any step up to the prospect is a mistake, you must walk your prospect through the entire sales cycle, including asking for the signature and a check.

Yoshinobu Tsutsui, the president of Japan's biggest private life insurer, Nippon Life Insurance Co., said negative interest rates are hurting the company's sales and bottom line.

In an effort to counter falling yields in Japanese government bonds the company is searching abroad for investments in infrastructure equity funds that invest money into power plants, airports, and schools.

And Nippon Life Insurance are not the only one, they're joined by Dai-ichi Life Insurance and Sumitomo Life Insurance.

Dai-ichi Life Insurance Co. is increasing investments in aircraft leasing and infrastructure to generate stable returns.

Sumitomo Life Insurance Co. is increasing its foreign credit investment team and investing in US corporate bonds.

Combined, Japanese life insurance companies control nearly ¥350 trillion. That’s a staggering US$3.2 trillion in financial assets. And as you can see, it's being forced to create real wealth to generate returns.

Not only are Japanese bonds yielding less, but so are government bonds around the globe. Now insurance companies are venturing into more diverse investments to maintain returns.

Such an amount of money looking to invest in infrastructure could be an absolute game changer. This sort of investment is going to create huge wealth in industries that benefit all of us.

Everyone keeps focusing on the debts. But the Japanese funds show also there is an enormous amount savings looking for somewhere to invest. And it's being forced to create real wealth in infrastructure and by helping to fund corporate activity in various sectors of the economy.

This is just one more indicator to suggest economic collapse is unlikely for 2016, while there is this amount of savings forced to create wealth and fund business activity.

This increased interest from the insurance sector has already been filling the gap left by deleveraging banks and austerity stricken governments after the financial crisis.

This sets the scene for continued construction right now, and confirms the real estate cycle is still on track.

Know where the gains in infrastructure will eventually end up. Cycles, Trends and Forecasts is the only service that can tell you that. But more importantly, it can also tell you how you can time it all to your advantage.

The key thing in markets is to know the real estate cycle.  If the recovery from the global financial crisis caught you off guard and you are waiting for the next market collapse this year, history is not on your side. An economic collapse in 2016 is exceedingly unlikely.

We are still in the first half of the real estate cycle, but it's slowly starting to build. All this infrastructure will enable land prices around the world to go higher.

Interest rates may stay low for some time, and the move by the Japanese life insurers suggests a big real estate cycle might still be in front of us. It's incredibly exciting. Make sure you know how to take advantage of it.

This is the real estate cycle turning before your eyes. To time it all to your advantage, go here.


Terence Duffy,
Lead Researcher, Cycles, Trends amp; Forecasts

From the Port Phillip Publishing Library

Special Report: 'Wealth Eruption': Forget the market downturnthe oil crashand the debt...There are FOUR unstoppable events that could generate huge wealth for Aussie investors. Starting with one play that could make you a potential 1,068% return in the next 24 months...(more)