How to Build a Solid Sales Team

It can feel odd hiring a sales team after you start your business. You were probably the only salesperson for the first few years of your company’s life, and giving up such an important responsibility can be jarring. However, if you want your business to succeed, you have to learn how to delegate and grow. Sales Team Actually having a sales team is very different than doing sales yourself. You need to trust them, and their skills, implicitly, even if how they sell is different from how you sold. With that in mind, when you first begin to hire and train your sales staff, remember to…

Look for personability

Friendliness and personability are two of the most important qualities of a successful salesperson. It doesn’t matter if someone has three decades of sales experience – if they’re pushy or irritating while selling, they’re going to lose clients. Sales has changed a lot over the last few years. Cold calling is a wash, and the best way to bring in customers is actually through inbound marketing. Your sales staff has to be able to connect with your customers and talk them through the sale, rather than throw pitch after pitch at them.

Foster cooperation, not competition

Competitions used to be really big on sales floors – I think it went hand-in-hand with cold calls and slick pitches. Since cold calling isn’t exactly fun, management would pit sales staff against one another to inspire and motivate. But there is no quicker way to destroy a work environment than by pitting your employees against each other day after day. If you adopt a ‘never enough’ attitude, you’ll lose some of your best people. By all means, set goals, but make them attainable, and don’t foster the sort of environment that makes people lose sleep because they’re worried about their numbers.

Talk to them regularly

You’d think this was a no-brainer, but a lot of new entrepreneurs forget that building a good sales team isn’t just about hiring the right people. You need to talk with them, train them, and guide them. A survey by Lattice Engines found that 42% of sales reps didn’t feel like they had the right information before making their calls. Your sales team are your people on the front-line. They need to know everything about your service, your clients, and their leads. Otherwise you’re going to lose sales from a lack of preparation; a problem that’s completely avoidable.

Have any more questions about building a sales team? Need any help getting the other parts of your business started? Leave a comment below, or give us a call at 1 (877) 692-6772!

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The 5 Best Social Media Campaigns of 2014 (So Far)

The 5 Best Social Media Campaigns of 2014Social media marketing has proven itself as much more than just a passing fad. A common misconception is that when things go viral, it’s just by accident or some kind of fluke. Granted, there is a little bit of luck at play sometimes but certain firms have got it down to a science where they can really put the odds in their favor. Sometimes it’s about creating a new trend from scratch and making it go viral but other times simply jumping on a bandwagon will do more than enough to raise a lot of exposure for your campaign. Let’s take a look at some of the very best social media campaigns of 2014 (so far) and why they were so successful.

#GiveGregaHoliday

Here’s an example of a company seizing the opportunity when something goes viral by accident. If this was planned from the very start, it would have been incredibly clever and a brilliant way to get attention. Part of me wants to believe that this happened organically, but the cynic in my head says it was staged. In either case, the result is still the same.

TrekAmerica is a company that specializes in putting together adventure holiday packages. When one of their employees named Greg sent in a vacation request, he accidently CC’d every member of the company’s 3500 staff rather than just sending it to his manager. This resulted in the hashtag #GiveGregaHoliday taking off, and the company responded by giving Greg a trip to Las Vegas and including the hashtag #GregGotTheHoliday. The result here was exposure, and this campaign worked because most people can relate to wanting a little time off, and everyone loves an underdog story of an employee being treated right by their bosses.

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ABCs of Small Business Industry: A is for Agriculture

ABCs of Small Business Industry: A is for AgricultureWelcome to the ABCs of Small Business Industry here on our MyCorp blog! In case you’re just tuning in to join us, each week we’ll be looking into a different industry to see what all you need to get started therein, the types of entities most popular within said industries to form, and the overall job outlook to determine if it’s going to be sustainable to you and your business or not. Last week we kicked off the posts with a look at how to get started in accounting and this week. we’re exploring agriculture and the wide world of food operations, farming, and CSA (community supported agriculture) groups in it!

What do you need to go into the agricultural industry?

Every business is run a little differently than the next, but if you plan on making and/or selling food to the public you must have a food license. This license ensures that the food you’re growing, selling, or making is wholesome and safe for the public to consume and without this type of license in place, your business could face serious consequences. Additional licenses to know about include the retail food license (for businesses selling food directly to the customer) and a food processing plant license (for wholesale use, meaning you can sell not only to the customer but to major grocery store chains and online). There are several rules in place for anyone in food operations to keep in mind before they can receive their license so be sure you meet all the requirements and personnel standards.

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5 Items Business Owners Must Include on Their To-Do List

5 Items Business Owners Must Include on Their To-Do ListStarting up a new business takes a lot of proverbial blood, sweat and tears. From the most basic tasks like choosing what products you will sell and a company name to more complex decisions like how you’ll handle payments and if it’s a good idea to hire your Uncle Bob as manager, it’s a time-consuming and even stressful process. For people who are getting their new business ducks in a row, the following to-do list can help streamline and simplify the entire process.

Register Your Business Name

Have done your homework to make sure your new business name is not shared by anyone else? A business name availability check can find out if your business name is currently being used and can help you avoid spending money branding a name that you cannot adopt. The free, non-binding business name search is simple—the form requires information including your contact information, business name and state. After you have secured your name, you can move forward by filing your Articles of Incorporation with your state or regulatory agency. Each set of Articles of Incorporation forms and fees differ from state to state; follow these four steps to make the filing process quick and seamless. For more on name search and business and trademark information, visit the Learning Center and click “Business Name.”

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ABCs of Small Business Industry: A is for Accounting

Here at MyCorp, we love talking about small business, as the sheer variety of small businesses available to start up is simply astounding. There is no, one, ubiquitous small business industry. Retailers, lawyers, restaurateurs, accountants – nearly every profession can be spun into a business!

With that in mind, we’re bringing you the ABCs of Small Business Industry as our latest post series on our blog. Over the next few months, we’ll be looking at the major industries that make up the small business world, taking a look at the different types of businesses, and helping people within these various industries start their own companies.

Without further ado, we present the first in what we hope will be an educational and enjoyable series – A is for Accounting.

Accountant

What do you need to create your own accounting practice?

First, you need to be licensed. A Certified Public Accountant has to pass a Uniform CPA exam, and you can’t legally offer your services as an accountant without some sort of credentialing. Licensing and certification will also vary state-to-state, so make sure you research what your state requires of an accountant before you open up your practice. If all of your ducks are in a row, opening up your own firm is like opening any other small business. You need a DBA name, and you have to apply for all of your local/state business and operating licenses. You should also have some sort of professional liability insurance, just to protect yourself, and if you hire anyone or bring on a partner, you’ll need an Employer Identification Number (EIN).

Once all of that is taken care of you’ll have a sole-proprietorship, or a partnership if you have a partner. However, this type of business can leave you personally liable for any debt resulting from lawsuits, debt, or negligence and it’s a good idea to consider forming a separate business entity.

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Business Basics – Cross-Blogging

Content marketing is amazing. Studies have found that inbound and content marketing cost 62% less than traditional marketing, and yet brings in three-times as many leads. If you don’t blog, you’re missing out on a huge marketing opportunity, and a great chance to network. Over the last year or so, we’ve really amped up our cross-blogging, and we’ve seen some amazing results. New markets have opened up, our web presence has never been bigger, and we’ve made some great new partners. cross-blogging

But, in finding new partners to blog with, we’ve noticed that some businesses don’t know the first thing about cross-blogging. So to help those of you experimenting with inbound marketing out, here are a few tips on how to make your cross-blogging experience positive and rewarding.

Make suggestions and share ideas

Some of the best articles we’ve ever written have come from ideas brainstormed with our cross-blogging partners. However, entrepreneurs can be a little skittish when it comes to sharing ideas. Now when a business is built on an idea, guarding it makes a lot of sense, but if that idea is nothing more than a possible topic for an 800-word article, you don’t have to treat it like a trade secret. So feel free to pitch ideas with your partners, and build off of each other’s suggestions. A major part of cross-blogging is networking. You want to forge a strong, working relationship with the people you partner with, and brainstorming is a great way to do just that.

Keep the relationship light

New bloggers sometimes get a bit overly zealous when contributing or accepting a post. Before anything is written, they want a thirty-page contract filled out in triplicate and faxed to their attorney’s office. Remember, you aren’t sharing revenue or starting a business together. You’re cross-blogging. A few simple requests like ‘don’t plagiarize’ and ‘don’t publish this somewhere else’ are really all that you need.

Don’t ask your partner to do all the work

We feel like this should go without saying, but we’ve had way, waytoo many potential partners ask us to just write the post for them. There’s no quicker way to ruin this networking and marketing opportunity than by shirking all of your responsibility and expecting someone else to pick up the slack. Treat others the way you want to be treated. Would you want a crummy, hastily written article, riddled with spelling and grammar errors on your blog? We doubt it. Any articles you send to your partner should be insightful, unique, and engaging, and you should expect the same of them. That way no one feels slighted, and your new partnership starts off right. 

Interested in contributing a guest post? We’d love to talk to you! Click here to read our author guidelines, pitch an idea, and get in contact with our social media team.

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How Your Business Can Fail If You Aren’t Careful

How Your Business Can Fail If You Aren’t Careful One of the least understood aspects of entrepreneurship is why some businesses fail while others succeed. The painful truth, according to a recent study by the University of Tennessee Research is that most businesses fail for one of the following three reasons.

1) Incompetence

46% of businesses fail due to emotional pricing, reckless spending, nonpayment of taxes, lack of planning, record keeping problems, and no knowledge of financing. Companies that succeed take pricing seriously. The prices they set are influenced by facts instead of emotions. As you set your prices consider the cost of material, labor, and overhead. Also, remember to keep in mind competitor pricing. Does this mean that you have to be the cheapest to compete? Absolutely not. You don’t have to compete on price, but you can’t ignore how much your competitors charge either. You can’t succeed on pricing alone, but your business will fail if you can’t get your pricing right.

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Do You Make These 5 Small Business Bookkeeping Mistakes?

Do You Make These 5 Small Business Bookkeeping Mistakes?If you’ve been an entrepreneur for a long time or are just getting started, then you probably already know that small business accounting is not as easy as it sounds. Not only do tax laws regularly change, but accounting standards and practices change too, which makes it easy for a small business owner to get tripped up and make a few mistakes.

But keeping the books for your small business doesn’t have to be stressful. We want to help you simplify your life, save money and reduce stress by learning how to avoid these five basic bookkeeping mistakes.

1. Mixing Money. You might think it’s not a problem, but the IRS disagrees. Co-mingling your personal and business funds together is simply bad business and as a LLC or Corporation it could potentially cause a breach in the “corporate veil.” Not only is it a risk to your asset separation but also you may have to pay an IRS penalty if get caught. No matter what, keep your business and personal account spending separate. Take the time to speak with a small business accountant to help determine the best way for you to transfer money from the business to you personally or vice versa.

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Why Trust is the Essence of an Effective Business

Why Trust is the Essence of an Effective BusinessOne of the most important elements of a positive, synergistic and healthy workplace environment is trust. Trust forms the foundation for effective communication and interaction, and provides a solid platform for employee engagement, retention, successful customer experiences, and satisfaction.

Trust goes beyond being able to rely upon someone. It is about character, ability, confidence, strength, faith, and conviction. When trust exists in an organization or in a relationship, almost everything else is easier and more comfortable to achieve which is why it’s so critical to build and maintain trust.

Like organizational culture, I believe trust starts at the very top – since trusting and being trust “worthy” can only exist when top management sets the example, and then promulgates that example into every business unit and department. This means establishing and maintaining integrity and communicating your vision and values through word and deed and doing what is right.

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Business Advice I’d Give to My 22 Year-Old Self

I’ll be the first to admit that, at 22, I was in no position to run a business. I was fresh out of college and thinking about signing up for law school. I had no idea that, in a few more years, I’d be thinking about mortgaging my house to buy a company and make the leap from IP lawyer to executive. business advice That transition wasn’t easy, and there is plenty of business advice I’d give myself if I could go back in time and let 22-year-old me know what was on the horizon.

Pay attention to long-term return on investment.

When I was a lawyer, a return on investment was assumed. We normally took cases that made the firm money – that was straightforward enough. But when you run a business, maintaining a positive ROI is a lot more complicated. It isn’t about money-in, money-out. A good ROI could be defined as more exposure, a bigger web presence, or a better reputation. All of these factors play into how much money the business brings in, but you don’t see hard results right way. One of the best pieces of business advice I’ve ever received is to always look at the long-term. Long-term thinking staves off stagnation, and keeps a business’s doors open. You can cut corners to make more money in the short-term, but that may damage your reputation and cost you in the long run.

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