A group of talented salespeople without effective sales management is like a football team without a head coach: the players will be on the field but only creating chaos. Midsized businesses often struggle with implementing a solid sales management process, perhaps because they have finally grown big enough and complex enough to need one. Here are the important fundamentals to keep in mind when developing the sales management function in your business: (more…)
We’re a couple weeks into 2016, and we’re already starting to see some trends form. In our industry specifically, we’ve been noticing the following:
1.We are seeing a growth in small business s-corporation elections to minimize the risk of audit and put owners of the business on payroll to save on potential employment taxes. This is a trend because as small businesses incur more expenses (increasing minimum wages in many states, health care costs and the cost of employees), they are looking for ways to save on taxes. Business owners who put themselves on form an s-corporation and put themselves on payroll are able to save on self-employment taxes because they only pay self-employment taxes on the salaried portion of their income (as long as the salary is reasonable) and not on the remainder of the income. (more…)
With a mobile phone in your hand, the task of choosing a phone system might seem unnecessary in the early stages of your business, but it’s actually very important. The telephone is still the preferred method of customer service in the United States. The calls you miss are as important as the ones you take, and a phone system will allow you to convert missed opportunities into sales conversions. (more…)
No matter what business you are in, sales will make or break you. Every business needs sales to survive, because it’s how your business gets the necessary finances to grow. Though, even if you feel comfortable selling, growing a successful sales department can be difficult.
This list will give you ten key points to focus on as you work to grow your sales department: (more…)
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. 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.
There is no denying that your sales team can either make or break your business. If the members of the team hit their marks, then success is going to be in abundance for the entire team. But if one team member is unable to uphold their responsibilities, that requires everyone else to work even harder.
While this competitive drive can sometimes be exactly what a business needs to grow, the fierce competition that comes with working in sales can sometimes lead to a loss in motivation among its team members. Seeing the same person always surpass their sales goals can be disheartening to other members who are having a hard time hitting the mark. That is why keeping your entire sales team motivated matters so that everyone can continue to do their best and keep the company moving forward.
When it comes to customer relationship trends, if you want to succeed in today’s market you don’t just want to make the sale. You need to be able to cultivate a long-term partnership with your customers. Too often, businesses spend the bulk of their time chasing “new” sales, all the while failing to understand that current customers can be a good source of additional business. As a consultant, I often come across companies making the mistake of not managing customer relationships. When I survey a few of their current customers, I find they only know about a single product or service being offered by the company. And, if they hear from the company after the sale, it’s usually to only to try to make another sale. This results in a revolving door of customers, which is often quite expensive for the brand.
Below are some tips to help manage and cultivate your customer relationships.
Connect with Your Customers
Connect with your customers on a level which supersedes the business of the transaction. Get to know them and develop a rapport. If customers feel a connection with you, they will begin to trust you and your recommendations. Always be honest and don’t oversell your product. Instead, demonstrate to them that you are not just in it to make a sale; but you want to earn their long-term business.
We’re really getting in the Thanksgiving spirit here at MyCorp! Not only are we all prepping our turkeys, and candying our yams, but we are prepping for our upcoming Black Friday and Cyber Monday sales as well! It seems that with the passing of each Thanksgiving, there is a new sales day added into the mix. What was once Black Friday, is now the trio of Black Friday/Small Business Saturday/Cyber Monday. Companies and customers alike are choosing to partake in all three!
We noodled on it and thought the entire sales weekend should just have its own name – something that combines and explains Black Friday, Small Business Saturday, and Cyber Monday. We turned to our fellow small business owners and here’s what they came up with!
When starting a home-based small business, you hope it will grow into a thriving empire…or at least a reliable ongoing income source. The key word is “grow.” And as your business grows, you’ll likely reach a point when you’re selling all you can produce without making serious changes to your business plan. Here are some ideas to help you overcome that plateau.
When you decide to start a business, optimism and excitement abound. You work tirelessly to ensure your business has solid fundamentals across legal, product and more but as launch day for your online store approaches, a myriad of new details and competing priorities can leave you feeling anxious. Here are 5 areas of focus that should top your list to help you successfully launch your store.
Put your best foot forward
One often sees online stores fail in one crucial area: properly and beautifully showcasing their products. Despite a strong product line, customers can misconstrue poor picture quality for poor product quality. Don’t fall into this trap! Follow these simple guidelines and display your most important site assets, your products, in the best possible light.