Tennis Pro, Gigi Fernandez talks about Retirement Regrets

For those that don't know, Money Mike was a top level tennis amateur player, ranking Top 10 in his region in juniors, played at the national level, played for national champion collegiate school, and number #1 singles at a Division 1, University. He actually met Gigi many times growing up in DC at one the very familiar back then, Virgina Slims Tennis Tourneys.
So we post this one from one of the best, Gigi Fernandez, from her words to your eyes & hears.

So listen up...

Gigi's story

"I assumed that I had saved enough to last a lifetime," says former pro tennis player Gigi Fernandez. "I made quite a bit of money when I was playing -- prize money, exhibitions, endorsement appearances."

Unfortunately, that money didn't last a lifetime. "My lifestyle didn't change. One or two bad investments, a market crash here, a Ponzi scheme there, and lo and behold, there isn't enough to last. So I have had to reinvent myself. Went back to school and got an MBA and now I am an entrepreneur."

Fernandez isn't alone in finding the waters of retirement perilous to navigate. In some ways, she is luckier than most, because at 46 she is young enough to get back in the game (so to speak) and set aside more money for her later-in-life needs.

"I founded a company called Baby Goes Pro that introduces young children to sports via a DVD," she says. Though only a few months old, "we have had great things happen so far, including being part of the Easter Egg Roll at the White House and an order from Target to be in all their stores." It helps that Fernandez can call Annika Sorenstam or Alex Rodriguez to pick their brains about the next sports video she is producing.

"I think two common mistakes people make when retiring is thinking that they have enough money saved to last them a lifetime and not adjusting their lifestyle to the current cash-flow situation," she says.

Like many other people at or near retirement age, there's a lot she would have done differently, if she'd known then what she knows now.

MONEY & MUSIC - THE ASSUMPTION OF YOUR CONSUMER

Cool V- Would like to give you the "Best TIP EVER" It's simple yet most of of us do this everyday! Stop assuming your consumer! If you truly want to get someone's respect you got to work a lil harder than a sales pitch to gain/instill their trust if you want them to "Truly Care" this means stop forcing your brand or opinion on them. Relax let them see the quality of your work and let ....."THAT SPEAK FOR ITSELF"! A wise person once told me "if you want to see life or people for what or who they truly are Just Sit Still" Now with that said I am NOT saying don't push or promote your brand or wait until business finds you rather sometimes we are so busy talking trying to push a product that we forget to the most important thing and that is to listen to what the consumer need!

Let me give you a scenario:

Business: Good morning kind sir/madam how are you?
Consumer: I'm ok

Business: We have a brand new flat screen television on sale for only $500.00 isn't that a steal?
Consumer: Yes it its "but" Im here browsing for something else

Business: But sir your gonna pass up a TV for that price? Your missing a great deal!
Consumer: I agree it's a excellent price but that's "not" what I'm looking for!

Business: Ok well I'd Hate for you to loose out but ok!
Consumer: Thank you for your time I think I'm going to look for my wife now!

Business: Thank you and have a great day!
Consumer: You do the same!

Now what was wrong with that scenario? The salesman didn't listen!!!! The consumer informed him three times he was NOT looking for a TV! Now although that may have been an amazing deal but a number of reasons could have came have been the reason it wasn't a go:

1. He already have enough Flatscreen TV's
   
2. He rarely watches television
3. His wife is blind and he has to work 3 jobs
4. He was shopping for another item
5. etc..

There could have been a variety of reasons but because he was more interested in making a sale he lost site of the most important thing to to and that was to gain his clients "TRUST" which plays the most important part in a sale. Because if your consumer does not have faith in your or the brand you represent is he's going to purchase your product? Chances are most likely not. Also be careful to watch your attitude or tone with your consumer because this will also hinder a sell. Things would have went a lot smoother if the salesperson just asked the consumer what exactly was it he was looking for. Another thing that could have helped is if he asked how could he be of better assistance? Both would have got what they was looking for! But because the salesperson was only interested in what he wanted then this became a heartless sale. (A sale with no emotion or care for the consumers needs)

We all know that in business most people have the attitude "it's not personal just business" but it is because when you invade a persons personal space you are now in "Their WORLD" They are not No longer caring about your store or brand until you gain their trust? (Your Introduction) The 1st thing in sales you learn is your selling "YOURSELF' 1st!!!!! Why?... because if the person doesn't buy you then trust me the same usually applies to the product your selling.

So in short "Stop, Look & Listen" don't be so eager or too busy trying to sell your brand that you forget the most important part of the deal "The Consumer & Your Relationship" this is the most vital part of the process that separates the successful return customer from the passer by!

Have a great day and It Ain't Official Unless U heard The Whistle!