Category Archives: Sales

Retool the Sales Process to Gain Sales Growth

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Working in the field of sales is great. Every day brings something new. Since this constant change directly affects sales people and their organizations, by extension it affects the sales process.

Some organizations avoid the entire issue by letting people do what they want. They see this as their way to avoid the need to correct or make changes – sometimes known as the don’t-fix-what-ain’t-broke mentality. This might be fine for your top sales reps, but not everyone can be a superstar. Maybe, if you it isn’t broke, you should break it. Continue reading →

Why Creating Strategic Alliances Helps your Business Grow

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Reaching out to like-minded individuals is one aspect of creating new business and it the same effect that happens when reaching out to like-minded businesses or competitors of the same or different genre. Specifically speaking building Strategic Alliances is networking with companies and or vendors that deal within the same area of business. For instance, a local business needs to increase sales. One way they can accomplish this is to find another local business that caters to a similar demographic and build a working relationship that benefits both companies by increasing the audience of both through joint advertising. Continue reading →

A Strategic Alliance is NOT a Joint Venture

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In a 2010 Inc. post, “How to Build Business Alliances,” I was surprised to read the very first line:

The basic logic of the strategic alliance – a joint venture between two companies – is often irresistible: It’s difficult to break into new markets, and a partnership can bring instant access to new customers. 

What? A strategic alliance is not a joint venture. Yes, a joint venture is technically a strategic alliance. However, the reverse is not true.

Specifically, a joint venture occurs when two companies invest finances to create a third, jointly owned company. Continue reading →

Sales Strategies Heading into 2013

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Sometimes it’s difficult not to think of those who work in sales as anything more than the slick late night used car sales people from days gone by. However, much has changed over the last 30 years, especially when it comes to sales strategies.

Heading into 2013 it’s critical for your sales team to understand what factors Continue reading →

Entrepreneurs Leading With Ideas

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Many people think that being business entrepreneurs means you have a new exciting product to offer the world. That may be true in some cases but not in all. The dictionary defines an entrepreneur as a person who organizes and manages a business usually with considerable unique ideas, initiative and risk. Today’s entrepreneur thinks outside of the box. More and more business is becoming global. It is often the idea that is central to success. It is the idea about an old product that often launches a great business.

You do not have to invent a new mousetrap to become the king of pest control. If you have an idea on how to do it better, provide great service and make your customers happy then you are a potentially successful entrepreneur. You just have to take action. Continue reading →

Solid Sales Processes is Critical

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Sales is a very tough gig. When most people think of sales, they imagine someone who has a “silver tongue” or who is simply good at slick talking people. To be honest, that is not an accurate assumption of what it takes to be successful.

Many business owners leave the future of their business in the hands of their sales staff without really knowing how to train them or what to look for in qualified candidates during the hiring process. So what happens is they end up hiring someone who ends up costing them money rather than making them money? Continue reading →

Several Reasons Why You Need Business Alliances

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As a business owner, you should always be looking for a way to increase your bottom line. There are different strategies claiming they can help you increase your business, but one that is often overlooked is forming business alliances. This term might be complete Greek to you, so here’s a quick breakdown of what it is. Continue reading →

Power Partners: It’s Not What You Know But Who You Know

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You may have heard the phrase, “It’s not what you know but who you know.” In most cases that applies to the business world. Developing partnerships and networking to broaden your people base is one important component of being successful in your business. It is defined by whom you know. This is never more true than when building relationships.

Finding your Power Partners is not only about you, it’s about them. Continue reading →

As A Small Business Owner, Why Is Tracking Sales Important?

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As a small business owner, you may ask yourself why tracking sales is important. You know the products that you offer, you know your budget, and your books balance at the end of every month. Why do you need to make the effort or invest in some type of software that will allow you to track your sales? This article will discuss the importance of that and more.

Selling Products Continue reading →

Alliance Performance Coaching: Better Process Makes Better Practice

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There’s an interesting video on YouTube featuring former Google CEO Eric Schmidt. In it Schmidt explains the benefits of having a coach. He tells the story of his early years as CEO when a board member suggested that he find one. Though Schmidt felt there was nothing wrong – he was the CEO, after all – he took the board member’s advice and began to work with a coach. As Schmidt explains in the video, a coach helps give perspective to things we are unable to see ourselves.

The same is true with alliances.  Continue reading →

How Value Added Resellers (VAR) Can Help You Find More Hours in a Day

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As an Entrepreneur what is the one resource you wish you more of right now? I’d be willing to bet the answer is most likely time. If you’re running low on energy there’s always more coffee, right? But, if you find you just don’t have enough time in the day to get everything done what do you do? You can’t add more hours to the clock.

So how do you free up more of your time? Continue reading →

When the Target Market Changes, Rethink Your Sales Strategy

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Think you know your target market? Most business owners will answer with a resounding, “Yes.” However, too often companies identify their demographics at the onset and then never look back.

Target Markets are Evolving

The 2010 white paper, “2010 America: What the Census Means for Marketing and Advertising,” forecast changes in the demographic make-up of the U.S. along with the resulting business implications. It suggests that too many entrepreneurs neglect changes to their current target market. The result: same old sales strategy, no increase in sales.

Continue reading →

Business Partners, Joint Ventures and the Win-Win-Win Strategy

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Most people are very familiar with the idea of “win-win” in the development of joint ventures. This way of thinking has helped push old world business owners into thinking about the benefits of helping their business partners as well as themselves.

To strengthen business relationships, you need to focus on what would benefit both parties. The result creates more of a unified force. Asking yourself how you can help your business partner will truly make a huge difference in the long-term stability of your venture. A good way to start a relationship is to ask both parties for their Conditions of Success (COS). Then everyone knows what is expected at the end for joint success.

Continue reading →

Looking for Your Next Business Partner

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You’re a talented and innovative thinker planning to launch a ground-floor venture. Should you go it alone or bring in a business partner?

As we mentioned in our earlier blog, “Is it Too Much to Ask for the Perfect Business Partner?” a number of business pairings throughout the years have turned into great successes. Primarily because of the skills and traits each partner brought to the pair. However, a lot had to do with the actual relationship between the individuals involved.

Not Everyone Should Be Your Partner

This seems like an obvious statement. However, Continue reading →

3 Questions to Develop Your Channels of Distribution Strategy

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When developing a new product or service, one of the first things to consider is how to get it to the end-user. Deciding on what channels of distribution to use is a very important business decision that must be made correctly. Using the wrong channels of distribution costs you money and depletes the value of your product.

1) How does the end-user want to buy?

To answer this, you’ll need to understand your customers and your relationship to them. How does your customer prefer to buy this product? Will they need customization or regular service? Maybe your customer needs other products or services to be able to use your product. Continue reading →

If You’re an Entrepreneur, Only the Strong Survive – If You Have a Business Plan

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Some entrepreneurs may disagree with this assessment; however, according to a 2009 MSNBC.com article, “Economic cycles are Darwinian, picking off weak companies and leaving survivors stronger.”

The good news is that the survivors often benefit as their competitors disappear. Unless, that is, you haven’t planned ahead.

Comprehensive Business Plan Vital Continue reading →

Collaboration – Tips for Better Presentations

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If you are like me, then you have been forced to suffer through your share of presentations given by uninspired, uninterested and disorganized people. “I can do better than that. Much better!” One might say. But one might also find that when the time comes to collaborate on one’s own presentation, that creating an experience of oratory (plus visuals!) that will wake up the back row is more difficult than it might initially seem.

That being said, as I have already said, going into a business presentation, people are not necessarily expecting anything amazing – so use that to your advantage by providing the audience with something amazing. And here are a few ways to do so. Continue reading →

Land a Sale by Tracking Sales Leads

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Your small business exists because it has a product or service to sell. However, you can’t have a sale if you don’t have a buyer. And you can’t have a buyer if you don’t successfully generate and track sales leads.

What Exactly is a Sales Lead?

In general, a sales lead is a potential customer who previously indicated an interest in your product or service. They are not a customer…yet. Your job (or that of your sales reps) is to sway that individual or business so that they become your customer.

Seems like an easy enough task. Continue reading →

Your Best Power Partners May be Right Down the Street

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I came across a blog the other day written several years ago by Al Lautenslager for Entrepreneur.com.

He tells a story of walking into the dry cleaners and finding a $5-off coupon for the pizza joint a few doors away. Deciding to enjoy some pizza, he walks to the pizza place to redeem the coupon and there on the counter he finds a $5-off coupon for the dry cleaner. This might be called reciprocal marketing or, as Al suggests, fusion marketing. Whatever you call it, it makes sense.

Finding a power partner – Continue reading →

9 New Steps for Managing Strategic Alliances That Work

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In a recent press release, Hallmark, the world’s leading greeting card brand, announced a strategic alliance with Shutterfly Inc., a leading Internet-based digital photo site. The goal is to have “exclusive Hallmark-designed customizable cards featured on Shutterfly’s new personalized greeting card site, Treat.com.”

According to Investopedia.com, a strategic alliance is… Continue reading →