Tips from the Top - April 2017
Out-of-the-Box Sales Idea
Our growing business requires continuous recruitment and management of sales people. Our top performer found his own sales suffering as mundane tasks associated with new employees eroded his time for making big deals.
To build the team, we attempted twice to bring in an outside sales manager. These people are very expensive and often clash egos with our existing sales reps. Frequently they would attempt to change "too much, too soon" or go for quick wins without understanding the complexities of our technically-oriented mapping business, complex products and our existing sales processes…
Successors for Success
When you begin to plan your exit from your business, you might consider separating the ownership decision from the delegation decision. Some business owners put the proverbial cart before the horse and try to sell before they have a potential successor in place…Read more
Open Door Policy
You of course want your staff to let you know if they have a problem, or an issue, or a challenge you can help them with. And (assuming you still have an office!) no doubt you tell them, on a regular basis, that “my door’s always open”.
But are you sure that your body language is sending the same message — that you’re walking the talk?
When you’re busy it’s all too easy to subconsciously tell your staff to "GO AWAY!” — without even realising you’re doing it!
As one of my former business partners used to say, “it’s no good having an open door policy if you’ve got a F- - - Off face! …..”
Right and Wrong of Recruiting
Recruiting the right person at £20 per hour is better than recruiting the wrong person at £15 per hour!
Work in the Growth
Our company has been growing at double digits for many years now. Naturally there are challenges that come with growth, including space.
A couple of years ago, we added on another 4,500 square feet of space. While looking at financing options, we discovered it was possible to put all of the costs of the renovations of the new space under a lease agreement. It included the desks, computers, office construction, staff and even the cost of paint and carpet. This worked perfectly as it is our philosophy to use our cash reserves only for expenditures that will make us money (like stock)!
Be Authentic to be Successful
Your business should work for you. Showing up in a way that works for you may not win you every customer, but it will win you the customers you want.
Oh, and one more thing: You want to avoid reminding your customers of every other "bad" salesperson they’ve ever met.
Qualify Your Estimates
Create a list of qualification questions to use as you receive requests for an estimate. Use the questions to rule out requests that aren’t worth your time. This has saved me time on creating estimates that don’t make sense for my business or won’t result in a closed deal.
Internal to External
By pulling the information from inside my head into our financials, we have a better understanding of where our business is from a cash-flow point of view. My stress has reduced considerably!
My TAB Board has gone above and beyond in helping me accomplish this, seeing what a challenge it was for me. Yet now that it’s done, I’m so glad I did it.