For many Covid-19 has temporarily changed the way business is done and for others those changes will be permanent. This is both good and bad. The good is that for those that adapt, they will find news ways to do business. The bad is that for those who remain steadfast in their ways, they may not survive. This brings me to today’s topic, discounts.
Technology has been an amazing boon for businesses of every size, but none more so than for small businesses. Having come of age as an entrepreneur through the technology evolution, it’s truly amazing that what once took days by many, is now done in minutes by one person.
The development and ease of use of current technology now allows small businesses to compete with much larger organizations.… Read More
In its heyday, the Kodak company used the following tagline in their advertising: “Make it a Kodak Moment!” This phrase was used when taking a picture of someone at a particular moment that will never be forgotten. It even made its way into everyday use to highlight anything good or embarrassing that happened to an individual, even when it wasn’t captured on film.… Read More
Reading Time: 5 mins
We all have our own definitions of training for our team, but in all honesty, most of it sucks. Sure, for customer facing team members, we do the mandatory, how to acknowledge a customer stuff, with all the expected please and thank you’s.
It also goes without saying that we spend time teaching them “the system”, whether that be a retail POS or other software necessary to capture and order or process payment.… Read More
Reading Time: 6 minutes
Be visible is really nothing more than the opportunity to get in front of the customer in some meaningful way. Unfortunately, it is proving far more difficult to do so. B to C or B to B businesses are equally challenged in getting through to their customers, because there are just many more roadblocks.
In the time before voicemail, a phone call to a customer’s home resulted in one of three outcomes; no answer, a busy signal or someone actually answered, pretty predictable outcomes.… Read More
I like to define entrepreneurs into one of two categories, they are either a hunter or gatherer.
A hunter is someone who’s business requires them to go out every day and find new customers. Whereas a gatherer is much like a farmer who continuously harvests business from an established base of existing customers. The best businesses do both.
Of course, all entrepreneurs start out as hunters.… Read More
Many entrepreneurs’ struggles can be traced to their inability to bring focus to their business. It is said that if you try to be great at everything, you’ll end up being good at nothing. I like to use the example of sunlight to explain the power of focus.
The Power of Focus
Most day our world is full of sunlight and even on the hottest of days there’s little risk of it setting anything on fire.… Read More
One of the simplest ways to increase your sales closing ratio is by simply following up with your prospects in a timely manner.
All too often I encounter entrepreneurs who lament at how difficult business is or that they just don’t get sales even though they are pitching and quoting.
Digging a little deeper quickly uncovers one of the main reasons for their poor sales performance, they don’t follow up.… Read More
Sitting down with a cup coffee, you look at your financials and you realize your annual projections are not unfolding quite like you planned. Revenue is down, expenses are up and profitability is just a flicker on your Profit and Loss statements. You know that the longer you wait, the harder it will be to make up the shortfall. It’s time to step up your game and maybe even get outside your comfort zone and do some business development.… Read More
Wilfredo Pareto discovered the 80/20 rule when he wanted to determine who owned all the lands in Italy in the 18th century. He found out that 80% of the lands holdings were owned by just 20% of the families. As he continued his research he soon discovered that many things fit that profile.
Applying The 80/20 Rules For Sales
So how do we apply the 80/20 rules for sales?… Read More