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    Sell feelings not facts

     

    I've been hearing for years that a successful business needs to have a USP (unique sales point). The problem is that most businesses find difficulty in identifying what their USP is. And even if they have a USP, eventually they find their competitors doing the same thing. So instead of losing sleep wondering what your USP could be, far better to think about what your ESP (emotional sales point), could be. Your ESP is about how your customers feel when they deal with you. How they feel when they use your product or service. A USP could be - "We have a 24 hour delivery service" The ESP would be - "You'll be enjoying our product the day after ordering it" A USP - "Our prices are very competitive" The ESP - "You'll feel you've received value for money if you buy this" As all good sales people know, we don't sell a feature (USP) we sell a benefit (ESP). Customers don't buy Nike clothing because there made from quality materials, they buy Nike because they want to feel like Tiger Woods on the Golf course or Andre Aggasi on the tennis court. They don't buy Microsoft products because of all the research they've done, they buy them because they feel good about them. Start to think what your ESP is. What does your product or service do that makes your customers feel secure, comfortable, acceptable to others, admired, stylish, wealthy, important, happy, relaxed or sexy. For those of you selling engineering or technical products and think this isn't for you - think again. Some years ago I worked as a Sales Engineer for Loctite industrial adhesives. On several occasions I proved to engineers through numerous tests, how my product could save time and money over the assembly methods they were using. Many engineers agreed with all the test results however they often rejected the product on the basis that it didn't FEEL right for them. I realised then that I needed an ESP to overcome this resistance. So there you have it - always remember that a customer will make an emotional decision before a logical one, whatever they're buying - so what's your ESP?

         
    Sell like a girl or what a 12 year old can teach you about sales

     

    Yup, it’s Girl Scout Cookie time in our part of the world. [And, yes, my English teacher DID tell me never to start a sentence with the word “Yup.”] For those of you who are unfamiliar with the sights, tastes, and overall experience of helping your daughters sell Thin Mints, Samoas, and Do-Si-Do’s, you’re missing a fundamental and wide-ranging education about the dynamics of sales, selling, and salespeople. Here are some points I’ve garnered while helping my daughter, Rebecca, age 11, and Troop 3129, make their sales numbers. These pointers are hard-earned, field-tested, and as applicable to you and your business as they are to Rebecca and hers. 1. It’s who you know. It’s true: the cookie business is a relationship business. Our next-door neighbor bought 9 boxes – Bam! Neighbors on the other side, 2 boxes, then 3, then more. Why? Because Rebecca had something to sell. What’s your personal brand doing these days? If you switched products, services, or companies, would people buy from you JUST BECAUSE IT’S YOU? 2. It’s not about the product. It’s time to get the lawyers upset. Ready? Girl Scout Cookies, for the most part, taste terrible [Thin Mints are the one exception, in my humble opinion]. And they have enough fat, calories, and cholesterol in them to power a small Japanese alternative fuel vehicle. You want good cookies? Buy Oreos, Mallomars, Ginger Snaps, Nutter Butters, Grasshoppers, Deluxe Grahams, Fudge Sticks, etc. etc. Yet Girl Scout Cookies sell like crazy, year after year, donating millions to the bottom line of Girl Scouts of the USA. 3. It’s not about price. Girl Scout Cookies cost $3 a box. The smallest box, by weight, is 7 oz. and the largest is 10 oz. Most retail cookies come packaged in a “small” size of around 12 oz. and cost about $2.49. Girl Scout Cookies even give premium brands, such as Pepperidge Farm, a run for their money when it comes to high cost. Did I mention one of our neighbors bought 9 boxes at a clip? 4. It’s not about need. Face it, nobody NEEDS Girl Scout Cookies. In fact, when the girls were out doing a “Cookie Shop” at a local hardware store (local merchants, malls, and grocery stores allow Girl Scouts to set up a table for sales on their premises to support the cause), the number one objection we heard was “I already have some Girl Scout Cookies at home – more than I need!” So, why did they buy? Because they had a relationship with their salesperson that was more important than their need, desire, or use for the actual product. Hey, did you know that Girl Scout Cookies make great gifts, freeze really well, and are only sold for a short time each year? Can you learn from this and apply the lesson to YOUR sales message? 5. It’s not about competition; it’s all about contacts and referrals. So who is selling to all those customers who “have Girl Scout Cookies at home – more than they need?” Naturally, it’s their Girl Scout. What are the chances of Rebecca selling a box of cookies to someone whose daughter is also selling the same cookies for the same price? You got it: less than zero. Is Rebecca going to bang her head against the wall bemoaning those lost sales? Of course not. She’s going to tap into her network of networks – neighbors, cousins, kids and parents at the Y where she plays basketball, my former colleagues at my old job who have become good family friends (and Rebecca’s customers in previous years). Do you know how to fill your pipeline when things seem dry? Do you know how to move your prospects along to becoming customers, satisfied customers, and then customers-for-life – not of the product or service you’re selling today, but of YOU and whatever value proposition you might be offering now and in the future? 6. When times are tough and things look quiet, that’s the time to push harder than ever. Cookie sales end at a certain time each year. Right now, we’re about two weeks away from the ending date, and there are Girl Scout Cookies being sold everywhere you look. We’ll probably have 10-12 boxes left over by the time the deadline comes. Are we depressed that we didn’t meet our goal? Are we failures as salespeople? Only if we quit when it’s over. Don’t you see that as soon as everyone else stops selling, stops marketing, and stops with the “Cookie Shop” setups -- these cookies move up from a commodity to a valuable asset? It’s the same thing in your business: when the market is down, your competition has pulled their ads, it’s “hunker-down” time, get back to basics, and cut, cut, cut! However, that’s the worst time to cut – you have everyone’s attention! There’s actually much less noise out there for your message to compete against. Push now, and you’ll be heard!!! What does this all mean to you and your business? It’s simple -- now is the time to get back in the saddle and ride your sales and marketing activities harder than ever. You’ve got the floor. You’ve got more relationships and more people rooting for you than you realize, and if you cut through the old excuses about your product, price, competition, the economy, and all the rest of it, you’ll see the sales breakthroughs that lie ahead. Why waste another minute?

         
    Sell services online

     

    Is it possible to take a normal offline service business like a legal practice, private medical practitioner or even a real estate business and make money with it from the Internet? As someone who’s been doing this since 1996, I say the answer is a resounding “YES”. If you are a business owner, or even an affiliate marketer, you know how hard it is to make a living online. Many so-called Internet Marketing gurus will tell you that the only way to make money online is to create your own information products, hype them up with a completely fictitious sales letter and then sell via Clickbank, allowing an army of keen and eager affiliates to do your marketing for you. Whilst that can and does work, there are other paths that are equally successful. I know from experience, having made my living online by using my own web sites to promote other people’s businesses. The business I chose were all service oriented. The reason for this is that a service business typically has a low overhead in order to provide the service. I found that they were more willing to provide me with a larger share of the fees I was able to generate. The key is to use sales language and “speak” to the businesses clients in language that they understand and respond to. For example, there’s no point using a 5 page sales letter when you’re trying to sell the services of a conservative legal practice – it just won’t work. The other key thing is to build the web site in a way that it looks to be providing objective advice. People like objectivity when they are buying. The sites I tend to concentrate on are business to business sites. I just don’t like selling to individuals, as they have less money to spend and are infinitely more fussy than a corporate buyer who typically just wants the facts. My approach works and through various web sites, I have attracted the business of quite a few household name clients for my clients. The great thing about the way I do business, is that I don’t necessarily have a client when I build my web sites. Instead, I build a web site based on a certain topic and then quite literally build a business around it. The sales copy doesn’t have to be blistering hot, it just has to be convincing and contain a strong call to action for the reader on the particular web page. Make that call to action strong enough and the customers will come knocking on the door and there will be no need for cold-calling. The web site does the selling for you. Of course, it’s not just down to the sales copy. There are a number of tools that can be used very effectively in order to make selling services online extremely easy. For more details, please visit sales-letters. co. uk

         
    Sell with an attitude

     

    Sell With an Attitude When selling a product or giving a sales presentation, you always want to convey a positive, upbeat attitude at all times. This will send a crystal clear message to your audience that you believe in the product you sell, and that they should also. It is rare that you come across a person in sales that is down on his luck, moping around with his head down, and feeling sorry for himself. This person is definitely in the wrong business. Attitude is everything in sales, from the gleam in your eye, right down to the polished shoes on your feet. Have you ever heard the expression “smile, it’s contagious?” well it’s true, your smile is contagious, so smile when you greet your customer, they most definitely will return the gesture. Imagine someone trying to sell you something without ever looking you in the eye, or shaking your hand upon meting you. This would be an indication to most people that the person selling the product does not believe in, or care about their product. Imagine asking them questions and being left with blank stares and empty answers. You will most likely not be doing business with this person. The above example would be a description of someone “not” selling with an attitude. When I say “sell with an attitude,” I don’t mean that you have to go out and buy a T-shirt that says “I have an attitude.” An attitude can be many things, but in sales you want it to be positive. It can be nice, or laid back. You don’t have to be loud and boisterous. It is not necessary to give two handed political hand shakes, or go around back slapping to sell your products. The ingredients to selling with an attitude are at your fingertips. In fact you were born with them. All you need is a smile, confidence in yourself and your product, the ability to look people in the eye, and product knowledge. Also, appearance can speak volumes about your attitude as well. So make sure you look the part. If people think that you don’t have the ability to take care of yourself, they will also think that you don’t have the ability to take care of them. So sell with an attitude. Smile, be happy, put a spring in your step. Let the world now that you are here to sell, and that you love what you do. Remember, the better your attitude, the better your sales results will be. This article may be reproduced by anyone at any time, as long as the authors name and reference links are kept in tact and active.

         
    Sell your customer what they need

     

    When it comes to selling your products it is important to ask your potential customers probing questions as well as open ended questions. These types of questions are geared toward gathering information. They commit your customer to giving you anything but a yes or no answer. For instance, an open-ended question would come across like this: What is it that you like so much about your current bank? Now, if you are a banker trying to get a customer to bank with you, you will now be able to compare your products and benefits to what your customer has just told you about their current bank. Also, by finding out about what they like, you will also find out what their needs are. Another name for selling a customer what they need is “needs-based selling.” All sales people have goals and we have a tendency to sell things to people even though they have no need for the product just so we can have our numbers inflated so we can talk about it during the weekly sales meeting or conference call. The downside to selling something to someone that they have no need for is that your customer will quickly figure out that they don’t have a need for it and will never consider you in the future for your services. This is the reason why it is so important to find out what your customers needs are before you sell them something. When you sell a customer something that they need or want, they will be truly happy with the product and the service and appreciate your help. As we all know, a happy customer is a good customer and will always come back to you for your services and refer friends and family to you as well.

         
    Selling

     

    So finally the time has come to sell the business. After investing years of your time and uncounted thousands of dollars, it has become successful, providing for your needs and wants, and it's time to enjoy the fruits of your labor. Where do you start? A good time to start thinking about selling a business is right after startup, when it shows signs of beginning to succeed and become self-sustaining. Even if you are planning on bequeathing it to your progeny or a partner, it's never too early to think about what will happen afterwards. The first step is to take your time--selling a business is a complex process and you will only do it once. Confidentiality is a necessity at this point, as word of an impending sale can cause repercussions among employees and business partners (suppliers, customers, etc.) alike. Your position in the business is also a point to consider. If you are the sole proprietor, the decision is yours alone. However, if you are a partner or board member, selling your part of the business will involve more considerations. Finding a good broker is worth any amount of time needed to locate one you are comfortable with. Check the Better Business Bureau for any investigation history, and get referrals from fellow business owners or from industry associations like the International Business Brokers Association (IBBA). This is a non-profit "trade association of business brokers providing education, conferences, professional designations and networking opportunities" (IBBA), as well as professional certifications and boasts over 1300 members. Next, a professional appraiser should be consulted, as just like selling a home, a professional appraisal will give a fair value to begin negotiations with. Keep in mind though, an appraisal is an estimate of the fair value of a business' hard assets, and the market value of the business may be higher or lower, as a business is only worth what someone else is willing to pay. Determining major terms and price are issues that you are going to have to work out with your broker, but a few basic factors come into play: what do you want to get out of the sale? Continuing salary? Lump sum? Stock options? This is a step often overlooked until late in the negotiations, often to the detriment of the seller. Financing the sale is usually about 90% left to the seller. If you can't or won't be willing to cover the costs of the sale, it may not be a good time to sell. Once you and your broker have located a buyer and agreed on a price, a Letter of Intent is drafted. This letter outlines the terms and tentative price in a non-binding document and allows the buyer time to thoroughly investigate the business. This process is subject to Due Diligence, as the onus of discovery is placed upon the buyer and buyer's agent. After the discovery process is completed to both parties' satisfaction, the Purchase Agreement is drafted. This set of paperwork creates a formal agreement between buyer and seller regarding purchase price, terms, and other legal details. Once the respective lawyers have finalized the details and complied with state law requirements regarding the sale, the Purchase Agreement is signed, closing documents finalized, and the sale is complete. If everything has gone well, it's time to breathe a sigh of relief and start planning what to do with all that free time!

         
    Selling is not closing customers it s about opening relationships

     

    A sales rep friend and I were talking one afternoon about how to improve his selling skills. He's been in financial services for 13 years, but as of late his business has been slow. He was telling me how bad he felt because he wasn't getting many appointments. People weren't returning his phone calls. In addition, the few people he was speaking to weren't interested in meeting with him. In the next sentence, however, he sparked up and said - with a great deal of pride, 'I'm a great closer. Just put me in front of a prospect, and I'll walk away with an order eight out of ten times." "Then why isn't your business growing by leaps and bounds? Why aren't you making tons of money? Why aren't you spending more time with your family and friends instead of spending so much time at the office?" I asked? A perplexed look crossed his face as he pondered my question, the kind of look that says "If I'm this great, why then ain't I rich?" He looked out the window and pondered this question. He stared at the ceiling. He gazed at the floor. And in a soft voice said, "I don't really know why I'm not doing better. I guess I'm just too busy to be calling on people." And that's precisely his problem. He didn't realize that selling isn't about being a great closer. Selling is about being a great opener. It's about creating opportunities. It's about discovering what people want and need, and then giving them the solution to their problem. Selling is about making the customer's life better, easier. But when you're not opening customers - creating opportunities - you've nothing to close. "What kind of customer contact records do you keep?" I asked. I then asked him these seven questions: 1. How many times do you dial the phone each day for the sole purpose of scheduling an appointment with a prospect? 2. How much time do you spend dialing for appointments each day? Do you block out time to call on your calendar? 3. Where do you get your leads? 4. How many times do you attempt to reach a person before you decide they aren't a prospect and move on? 5. How many new people do you call each day? People you've never attempted to reach before? 6. How many people are you calling from your database that you've called on five, ten, fifteen times but have never bought from you? How do you feel calling on the same people who - even though they may be friendly - always tell you that they aren't in the market? 7. What are your annual sales goats? Quarterly goals? Monthly goals? Weekly goals? Daily goals? What daily activity must you generate to achieve these goals? With each question he was getting more nervous. His body language told me that he didn't have any systems or methods for looking for - and finding - new customers. "What's keeping you from looking for new customers?" I asked. "What do you do every day?" He explained that he comes into the office at about 7:45 am each day and spends most of the morning doing paperwork and reads e-mail. He works on client proposals. Then he does service work. He returns telephone calls. Goes to lunch with his colleagues, has meetings with his assistant and the other people in his office. By the time he leaves at about 5:15 pm he's put in a full day of doing "stuff," but there is one thing he never gets around to doing: Calling on new prospects. He avoids the phone like the plague. Ever since I started in sales, I always wondered why bright, talented, knowledgeable and successful salespeople never continued to grow in their businesses and further their careers. Why were they always struggling? Why were they always experiencing high peaks and low - below sea level - valleys? Why were they living a feast or famine existence? I've watched salespeople start their careers like a rocket roaring into outer space. But within a few short years their business had leveled off. Their meteoric rise to stardom had stopped, and their sales volume and commission level never grew by more than five, ten or fifteen percent a year... at best. With the passage of time their business started a slow decline as their best customers moved on or retired and the person who took their place put the old contracts out for bid, or brought in a preferred supplier. Why did this happen? Because the salesman stopped looking for new business. He stopped being a hunter-gatherer. He stopped prospecting. • Sales is about being a great opener, not just being a great closer. • Sales is about looking for prospects every day. • Sales is about getting on the phone every day. • Sales is about solving problems every day. He tried everything he could think of so he wouldn't have to get on the phone. He sent out letters, post cards, flyers and other advertising, promotional and marketing pieces, and then sat by the phone waiting for it to ring. It didn't! Every once in a while he would phone some people he had called on before, but more often then not, they weren't around. So he would leave a voice mail message that said something like, "Hi Joanne. This is Bud. I was just calling to see if you would like to setup a date to discuss your financial planning. Give me a call at 888-423- 1234." But Joanne never called him back, nor did any of the other people that he left voice mail messages for. This got him even more discouraged. Unfortunately, he had forgotten that a salesman's job is to track down the prospect. And in today's busy world most of us don't have time to return the calls of the people we do want to talk to, let alone return the call of someone who leaves a poorly worded message that basically says, "Please call me back." So we went to work. 1. We changed his attitude. He began to see the telephone as his friend, instead of his mortal enemy. 2. He developed a great Elevator Speech which enabled him to keep his conversations going. His days of having five to ten second "We aren't in the market." phone calls were over. 3. He started prospecting and looking for new people to call on. He attended networking events. He began asking for referrals. And even started calling on people whose names and photos had appeared in the business sections of the local paper. Within a month he had turned his business around. He was meeting with new people, asking great questions, solving problems, closing sales and making money. He had learned a very important lesson: Selling isn't about closing sales, it's about opening and creating new opportunities.

         
    Selling products is it for you

     

    Selling products as part of your computer consulting business is an option you should consider. Products can offer an additional revenue stream but you must determine if the extra expense and overhead associated with selling products are a good fit for your business model. You need to sit down and think long and hard about whether you want to be a reseller or if you want to be a pure consultant. As a consultant you will be specifying what products you recommend your clients purchase. You may actually do the purchasing on their behalf. The time you spend doing this is billable hours. Selling products for resell products will make some product margin. The margin for most of these products, however, is not that large. A majority of products you recommend will be available just about everywhere. Your clients know this. You might be able to add a small factor for convenience but if you try to reap huge margins selling products, your clients won't buy from and no one else will either. Selling Product Drawbacks Things you need to consider before selling products: carrying costs and capital tied up in inventory; product return issues; carrying receivables; merchant account administration Essentially selling products makes your business model more complicated. There is also not a lot of money to be made through selling products. You won't have sufficient buying power to enjoy low purchase rates so your product margins aren't going to generate a lot of profit for you. The Bottom Line On Selling Products When you open your business you have a choice whether you want to be selling products and services or just services? You should consider selling products as an option but make sure you understand the pros and cons before committing to adding product selling to your business model. Copyright MMI-MMVI, Computer Consulting Blog. All Worldwide Rights Reserved. {Attention Publishers: Live hyperlink in author resource box required for copyright compliance}

         
    Selling strategies for the scared

     

    Selling – no matter how well your business is doing – selling will always be at the core of your business success. Mastering your sales skills ensures that those hard won potential customers are quickly changed to actual customers. Here are some selling skills to help you. • Answer the question - "what is in it for me?" People buy to satisfy a need, a worry, because everyone else has it, or because they are curious about the product. Make sure that these questions are answered in your marketing and advertising as well as in any sales presentation. • Prepare yourself. Get together your presentation as well as any potentional questions you may be asked. Make sure that you have examples, pictures, samples etc. • Qualify your prospect - make sure that they are the decision maker and can afford the potential purchase. Also ensure that they are in your potential market - selling ice to Eskimos is for the expert of the foolish! • Develop a relationship with your potential customers. People like to buy from friends and those that they trust. • Decide on your pricing structure and build in some bonuses or discounts that you can offer during the presentation. Most people expect them. • Make the purchase process easy. Make sure that you have any forms and contracts available. Don't surround your prospect with red tape or make it difficult to contact your company. Make the second and subsequent purchases even easier. Put a reorder form in the sales pack and make a subscription easy. • Ask for feedback, directly or indirectly during your presentation and after the sale. AND learn from it. • Make the whole sales process fun for both your customer and for you. Good luck with your sales. ------------------------------------------------- © Copyright 2006 Biz Guru LLC Lee Lister, writes as The Biz Guru, for a number of web sites including her own BizGuru. us and clikks where she sells her informational products. With over 20 year’s management and business consultancy experience with businesses large and small as well as being a serial entrepreneur, she now helps others set up, develop and market their businesses. This article may be freely distributed if this resource box stays attached. -------------------------------------------------

         
    Selling success using testimonials to boost your numbers

     

    If you’ve ever watched QVC, Home Shopping Network, or seen an infomercial, you know about the power of testimony. It’s our experience that your sales will increase when customers are seen or heard testifying to the benefits of your product or service It helps potential customers to imagine themselves as proud owners & users of the product or service you offer. They want to experience the same benefits as the person who made a testimony to it. The best way to get prospective clients to buy from you is to introduce them to other satisfied customers. Since you won’t be taking customers around on sales calls testimonials will take their place To do this, first you will need to ask your best customers whether you can interview them about the positive experience they’ve had with your product or service and record it either with a digital camera or a tape recorder. Be sure to inform them how you’re going to use the information so they can be at ease knowing that you’re going to be using their words and images in front of perspective customers. Once you have this, in a digital format, incorporate it into a PowerPoint presentation and playback to prospective customers. For example maybe you know a situation where the cost of your product or service was initially an issue for a customer and they instead decided to buy from a low-price competitor. After discovering that the selected vendor wouldn’t be able to deliver, the customer came back to do business with you. They realized that the low price paid in the short run would actually cost more in the long and the value of providing quality and service is worth the extra money. The best kind of customer is one you can give you a testimonial. Then, should you encounter another prospect that voices similar concerns, you can simply say “ I understand how you feel and other customers to felt that way. In fact, here are some comments from a customer who had the same concerns you have now “. Once you play the PowerPoint presentation, they can see exactly what you mean. Ask your best customers to talk about the benefits they receive from using your product or service. If you have a number of different testimonials, you can always use the one that best fits the sale scenario. One sales rep we know show pictures of customers using his product. A picture of a happy, satisfied customer is worth a thousand brochures (and a lot less expensive). Nothing sells better than truth and you can get closer to the truth and when it comes from someone who’s had a real life experience with you, your product, your services, and your company. Good luck

         
    Selling to the big box retailers learn how to finance your sales

     

    : Are you selling products or services to the proverbial big box retailers? To companies like Wal-Mart, Costco, Sam’s Club, Lowe’s, The Home Depot and others? There are many advantages to selling to these companies. For starters, they have incredible purchasing power and can place large orders. They can truly help your company grow incredibly and take it to the next level. On the other hand, they also have incredible clout and negotiating power. That means that they can, and often decide to negotiate payment terms to their benefit. It is not uncommon for big box retailers to pay their invoices in 30 to 60 days. This creates two distinct types of problems, depending on your financial situation: You can’t afford to wait to get paid If your biggest challenge is that you can’t wait to get paid by your big box retail clients, the solution may be to factor your invoices. Invoice factoring is a form of financing whereby you sell your invoices to a factoring company who pays you for them. They wait to get paid, while you are paid immediately. You need money to pay your suppliers If your big box retailer client places an order that is too large for your current financial situation, your best option is to use purchase order finance. This type of financing is also provided by a factoring company, but covers all your supplier payments. It enables you to complete the order and make the sale. Like factoring, the transaction is settled once the client pays the invoice. Which one should you use? Both factoring and purchase order financing can be very useful. Factoring tends to cost less, so as a rule of thumb you should try it first. However, if you need more financing than what factoring can offer, then you should add purchase order financing to the solution portfolio. Both solutions can be quite affordable though costs will depend on your financing volume. Much like regular retailers, factoring companies give volume discounts and charge less if you use them frequently. Ideally you are better off using factoring as a recurring financing tool while deploying purchase order financing on a “as needed basis” to help with the big orders.

         
    Selling your business step by step process

     

    So finally the time has come to sell the business. After investing years of your time and uncounted thousands of dollars, it has become successful, providing for your needs and wants, and it's time to enjoy the fruits of your labor. Where do you start? A good time to start thinking about selling a business is right after startup, when it shows signs of beginning to succeed and become self-sustaining. Even if you are planning on bequeathing it to your progeny or a partner, it's never too early to think about what will happen afterwards. The first step is to take your time--selling a business is a complex process and you will only do it once. Confidentiality is a necessity at this point, as word of an impending sale can cause repercussions among employees and business partners (suppliers, customers, etc.) alike. Your position in the business is also a point to consider. If you are the sole proprietor, the decision is yours alone. However, if you are a partner or board member, selling your part of the business will involve more considerations. Finding a good broker is worth any amount of time needed to locate one you are comfortable with. Check the Better Business Bureau for any investigation history, and get referrals from fellow business owners or from industry associations like the International Business Brokers Association (IBBA). This is a non-profit "trade association of business brokers providing education, conferences, professional designations and networking opportunities" (IBBA), as well as professional certifications and boasts over 1300 members. Next, a professional appraiser should be consulted, as just like selling a home, a professional appraisal will give a fair value to begin negotiations with. Keep in mind though, an appraisal is an estimate of the fair value of a business' hard assets, and the market value of the business may be higher or lower, as a business is only worth what someone else is willing to pay. Determining major terms and price are issues that you are going to have to work out with your broker, but a few basic factors come into play: what do you want to get out of the sale? Continuing salary? Lump sum? Stock options? This is a step often overlooked until late in the negotiations, often to the detriment of the seller. Financing the sale is usually about 90% left to the seller. If you can't or won't be willing to cover the costs of the sale, it may not be a good time to sell. Once you and your broker have located a buyer and agreed on a price, a Letter of Intent is drafted. This letter outlines the terms and tentative price in a non-binding document and allows the buyer time to thoroughly investigate the business. This process is subject to Due Diligence, as the onus of discovery is placed upon the buyer and buyer's agent. After the discovery process is completed to both parties' satisfaction, the Purchase Agreement is drafted. This set of paperwork creates a formal agreement between buyer and seller regarding purchase price, terms, and other legal details. Once the respective lawyers have finalized the details and complied with state law requirements regarding the sale, the Purchase Agreement is signed, closing documents finalized, and the sale is complete. If everything has gone well, it's time to breathe a sigh of relief and start planning what to do with all that free time!

         
    Set goals to increase sales

     

    It's unlikely that any successful person or company operates without goals. They may have one giant or lofty goal. They may have a series of smaller goals leading up to the ultimate achievement but success is built upon goals. Goals accomplish many things. Three of the primary accomplishments are: Goals energize people and energetic people achieve more. Goals signal the direction of the company and sales team. Goals measure the achievement of the organization. Do you know how to establish reasonable goals? Follow this simple five-step plan to set goals to increase sales. 1. Start with national or company objectives. You must know all metrics acceptable to sustain growth. Historical data should be considered in addition to the makeup, ability and desire of the entire sales organization. If the economy or governmental regulations impact your business you must consider them in your plan. Why not start at the bottom to establish goals? After all, don't salespeople have a better feel for potential and reality? Scenario: Each sales representative assesses their territory, results from prior years, market share and potential. They "come up" with a projection and turn it in to the sales manager. They desire to hit their goals so they "sandbag". They decide to shave a few percentage points off the goals before submitting them. Other representatives apply the same logic. The Sales Manager adds up the goals and decides to act conservatively before communicating the projections to Senior Management. Believing the projections and the dire future they foretell, layoffs begin. Sales support and training get cut first. That's how a sales team can create a real problem. 2. Review territories and results to understand expectations and buying behavior. Can you assess the impact of repeat or carryover business? Does your business fluctuate due to seasonality? Do you employ enough sales representatives to adequately serve the market? Can you quantify the effect of pending mergers and acquisitions? Did last year provide useful information? 3. Develop potential allocations to divide the national or company goal among the territories. This may be done at the judgment of the sales manager. They may elect to use formulas based exclusively on prior sales. Or they may assess prior sales and market potential to determine territorial goals. Population of viable prospects and territories could be factors in establishing goals at the sales representative level. 4. Finalize the formula and process you plan to adopt. Then you must test it by asking many questions that start with, "What if…?" What if mergers and acquisitions besiege your industry? What if a tropical storm causes catastrophic damage in your Southeast region? What if the largest account in each territory reduced the need for your product by only five percent? How would that affect your performance? Compare your plan to the performance last year. How would the new compensation plan have worked last year? Imagine you're a salesperson working under the proposed plan. Would it energize you? Would it move you to selling the right products? Is the plan aligned with company objectives? 5. Review the goals one more time and communicate them with the entire team and the department responsible for tracking and compensation. Schedule periodic reviews to assess achievement and progress. Establishing goals is challenging. Poor goal setting leads to increased costs and can lower morale. If you sell in a volatile market you may consider goals with shorter time frames. In addition you should review them frequently and make adjustments as needed. Remember to communicate with the sales team the likelihood of this review as well as your solid business reasons for doing so. Understanding market potential allows you to reduce turbulence in the goal setting process. This is difficult in many business sectors but not impossible. Goals based on business objectives and the markets are the most accurate. Strong sales managers are aware and recognize the difference in establishing goals for rewarding and recognizing employees and goals for use in performance evaluations. Stack ranking sales representatives represents an alternative to setting goals although it is only fair if territories, opportunity and responsibility remain equitable. Goals accomplish many things. They energize individuals and companies. They clearly communicate the direction of the company. Goal setting is a very integral component in the best selling organizations in the world. Do not trivialize this opportunity to increase sales. "Not everything that can be counted counts, and not everything that counts can be counted." Albert Einstein

         
    Setting realistic goals

     

    When we make a sale, or take one step closer to meeting our goal, we are overcome with a felling of achievement which motivates us to sell more. I’m sure that anybody who is reading this article has been in the situation where they may have been given unobtainable goals from one of their bosses, sales manager’s, or some higher up somewhere in the company. When goals are given that are unrealistic, the mission is doomed from the beginning. It immediately gives a feeling of despair to the sales team, which can be devastating to morale. The sales team will do their duty and work as hard as they can to obtain the goals, but when they fall short, they will have feelings of failure, and will be reluctant to move on. Simply stated, unrealistic goals, take the fun out of selling. A personal story . . . During my years in the banking industry, I managed a sales team in a small branch inside of a grocery store. This is what is known as In-store banking. It was estimated that seven thousand people came through the grocery store where my branch was located on a weekly basis. With that statistic, my sales team was given a goal of opening up six checking accounts per day, among other things. This would be a monthly goal of one hundred and eighty checking accounts per month. To me and my team, this was highly unrealistic. Then, In-store banking was brand new to the banking industry, and these goals were being handed down by people who never once stepped foot in an in-store branch. Please understand, I am not bitter about this, I am just stating the facts, and believe this to be an on going problem with companies. This problem works both ways. Sometimes the goals being handed down are not enough, and a sales team will fall short of what their potential could be. Needless to say, my sales team never met their daily, weekly, or monthly goals. We did however, fight the good fight and manage to hold our own. But morale was never what it should have been. Every six months my team and I would attend the semiannual sales rally, where we would sit and watch as the other branches so proudly accepted their awards for meeting their goals. It pained me to watch my team walk away empty handed knowing that they worked so hard. My point is, when goals are being set, they need to be realistic and obtainable. The more you or your team reach their goal the more motivated they will be. Once you are reaching your goal at a steady pace, challenge yourself or your team, and raise the bar. Challenge them to reach higher on a daily basis Keep in mind, when you raise the bar, keep this new goal realistic as well, you don’t want to become over confident and put your goals out of reach. One last thing . . . The goals that are being set, should be put in place by a person or people who know you, your staff, and your demographics. Not by somebody in an ivory tower. If they are not being put into place by the appropriate people, suggest this idea to someone in your organization that you can trust. This article may be reproduced by anyone at any time, as long as the authors name and reference links are kept in tact and active.

         
    Setting your goals in sales training

     

    It doesn’t matter if you are in an auto sales training, TV and radio sales, estate sales or time share sales in my conversations with sales management over the years, I’ve found that top producers all have one thing in common: they’ve taken the time to sit down and create goals for themselves and committed to sales training. Even if during the sales seminar they were skeptical when they started the process of goal setting and planning, every one of them has become a true believer. What Is A True Believer? A “True Believer” isn’t someone who just works sales leads. They are someone who has been amazed by the incredible power of goal setting and the power of their own mind to be sold on the sales job. Every one of them has accomplished far more than they ever believed possible even if they are in mobile home sales or business sales they are the ones that move up to the top. It didn’t stop with sales goals or material successes. This belief runs deep in all areas of their life. They’re convinced of the power of the mind and want share that with the world. They just seem to live in a world that favors them. There life has become an extension of their sales attitude. Are You Happy With Your Current Training? I defined happiness in training as, The progressive assimilation of worth while skills that will help me to reach my professional goals. As a sales trainer, I have been working progressively, step-by-step toward making permanent lasting impact on every sales professionals life. This purpose alone can generate a continuous feeling of success and achievement within me, but if it doesn’t translate in your personal sales training it is all for not. The sales game has always been the more people you sell, the more successful you will be. As a sales professional, you have more control of this than almost every other profession. Geoff Thomas a sales associate is found of telling his sales staff, “Your raise is effective just as soon as you are.” I know you can create an environment of happiness for your customer through fabricated rapport skills but a genuine joy for sales will close more deals than you can imagine. Without your skills of salesmanship, there would be nothing for company to do. When you walk out of the office in the evening, it is natural for you to feel like a winner. This goal is well entrenched in the sales experts I know. It also gives you the psychological momentum to overcome obstacles and plough through adversity as you reach your sales goals and assist others. Sales training more than anything else should have you recharged as you go back out into the world. If the sales seminar doesn’t motivate you to work every sales lead more efficiently than why bother. Does Your Training Connect With Your Values? Every great trainer has a personal strategic planning process. It usually begins when you determine what you believe in and what you stand for – your values. If your values and the trainers match this is the glue that holds the core concepts of the sales training in place. These values shape our personality and our character as a sales professional. Your virtues and qualities are the sum total of all your thoughts, actions and beliefs since the moment you were born. Your values, virtues and inner beliefs are the axle around which the wheel of your life turns. All sales improvement begin when you clarify your true values and commit yourself to live consistently with them. It’s been said, “You must stand for something, or you will fall for anything!” Great sales trainers know the value of the sales process and believe every prospect they meet can find value in their product or services. When Attending A Training How Specific Should Your Goals Be? To achieve success in training you will find trainees are successful because they’re very clear and committed to their values and specific outcomes from the training. Unsuccessful trainees are fuzzy or unsure they perhaps were forced to the training without a buy in from the sales manager. When a training is a complete failure, you’ll find that the trainer didn’t clearly outline the real values of the training at all. These trainers stand for nothing and hope their audiences fall for everything. While training the sales staff at Positive Changes, our sales staff had access to a wealth of resources designed to help them succeed in their goals. For instance, use the Sales Mastery series to stimulate your other-than-conscious and keep you on track with specific, clear and organized sales goals. They trained each franchise location to set goals for the day, week and the month. Using these mind trips within themselves helped them to enroll others into its use.

         
     
         
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