Moving Customers Toward Making the Purchase

 

Some customers have told us that they don’t have the budget right now to buy. We know they’re not going somewhere else, they’re just postponing the purchase. How can we get them to take action sooner rather than later?

 

THOUGHTS OF THE DAY: Sometimes customers lack the will to act. Other times, you may not be talking to the real decision maker. Some customers need you to do the math for them. Make sure the customer knows you’ll be part of the solution, not part of the problem. Continue reading

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Determining the Right Amount for a Bonus

We’re having that conversation about what to give for bonuses. No bonuses are bad for morale. I’m worried that if people get too much, they could sit back and take things easy for a while and that would be bad for productivity and profits. How do we get it “just right”?

 

THOUGHTS OF THE DAY: Use bonuses to give the company more flexibility as revenues and profits go up or down from one year to the next. Do a reality check on salaries first before deciding on bonuses. Check the trends on overhead payroll vs. revenue and cost of goods sold payroll vs. revenue ratios. Reward overall company performance to get everyone on the same page. If you have a 401k plan, check to see if bonuses are included in matching funds. Use a budget to stay realistic.

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Building an Effective Sales and Marketing Plan

I know sales can benefit from the guidance of a sales and marketing plan. But we don’t have one. What goes into that kind of plan? How do you make a plan that will be as effective as possible?

 

THOUGHTS OF THE DAY: Define on paper what results you want to achieve in sales and then in marketing. Describe how resources will be allocated to achieve the goals you’ve set. Then measure results and adjust.

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A Business Set to Grow

We have to make sure our business is set up to be scalable in every way, so that we don’t get stuck as we work to make progress growing the business. What are your recommendations to help us get there?

Thoughts of the Day:  Know what it is you’re trying to accomplish and clue everyone in to the overall goals. Move people around to increase communication and collaboration. Use processes and tools to help measure, manage and improve each area of the business. Move ahead fast enough to be challenging and slow enough to allow time to deal with issues before they become big obstacles.

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Urgent or Important, What’s On Your List of To Do’s?

I just don’t have time to do the things I need to do. I get in early, leave late, still have a ton of things on my task list. I know we’re all busy and that’s as it should be. But this is crazy. I’ll never get through it all. Feel like I’m drowning. What can you suggest?

 

THOUGHTS OF THE DAY: Start the day with one of the big, bad, important to do’s. Set realistic expectations. Organize based on importance. Hire to your weaknesses. Learn to delegate effectively.

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