As we move into the fall season and the final quarter of the year, it’s a perfect time to commit to a project in your business that will help you reach the year’s end in better shape. Here are five ideas: 1. Back-to-School Time If payroll expenses are one of the higher costs in your business, then it makes sense to boost your team’s productivity and maybe also your own. Fall is back-to-school time anyway, so it’s a natural time of the year to take on a course, read a business book, or hire an organizer to help you get more from your workspace. If you spend a lot of time doing email, consider taking a course on Microsoft Outlook® or even Windows; learning a few new keystrokes could save you tons of time. If you need more time, look for a book or course on time management. Look for classes at your local community college or adult education center. 2. A Garage Sale for Your Business Do you have inventory in your business? If so, take a look at which items are slower-moving and clear them out in a big sale. We can help you figure out what’s moving [...]
Avoid the Three Biggest Sales Mistakes and Close More Business
Every sales lead is precious. It takes a lot to get people’s attention these days, and once a lead or prospect comes in your door, you’ve accomplished that hurdle, but now you have another one: getting the business. To ensure you can turn those prospects into paying customers as often as possible, here are three mistakes we can all learn from and avoid at the very beginning of the sales process. #1 Tech-Speak Every industry has its own vocabulary. For example, pool service companies talk about “shock,” booster pumps, and cyanuric acid levels. If the salesperson starts slinging too many of these words around, the new pool owner is going to freak out. Worse, you can end up going down a technical conversational path that derails the sale and has you answering all sorts of educational questions that the prospect doesn’t even need to know about if they hired you. It’s a sort of foxhole you don’t want to go down, at least not during a sales call, and especially not during the very first interaction with a prospect. Continuing our example, a pool owner’s goals are usually that they want their pool looking awesome and safe to swim in. [...]
Turn a ‘Budget’ into ‘Profit Planning’
When you hear the word “budget,” what do you think about? Most people would say something similar to “Ugghh!” If you would rather do just about anything besides create a budget, you’re not alone. The word “budget” brings up connotations of endless numbers, constraints, the opposite of freedom and creativity, and hard work, none of which are very desirable. Yet, the benefits of a budget are huge. Budgets can help you with cash flow improvements, keep you on track for higher profits, and alert you to items that need further action. From “Budget” to “Profit Plan” To be successful with budgeting, we need to get rid of all of the connotations that go with the word. Perhaps it might work if we rename “budgeting” to “profit planning.” And then, rather than focus on how little we should spend, let’s start with how much revenue we’re going to make. Revenue Clarity It’s simple to create a revenue plan if you go backwards. What revenue goal would you like to hit this year? Just like we would never get in a car without a final destination, a revenue plan gives us a number to aim for in our businesses. Once you know [...]