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 “Moving Customers Toward Making the Purchase”

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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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Why Plan?

Finding it difficult to move things from in my head to getting it down on paper. Hear lots of my business friends say they, too, have plans for their businesses, but it’s all in their heads, not written down. Any suggestions on why that is, and what to do about it?

Thoughts of the Day: If you don’t have a written business plan, you’re not alone. Stats show you get higher results when you do. Follow some simple “How To’s” to get started.

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Instill Passion in Your Workers

We have concerns regarding our sales and service people. We need to see more intensity and passion. How do we help these people get there?

THOUGHTS OF THE DAY: What is it that you’re trying to accomplish? Define your real objectives. Give people a mission worth caring about. Take time to prepare your message so that it’s well received. Practice being adaptable.

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Managing a Young Workforce

We’ve hired several young, entry level workers, and we’re hoping to maximize our opportunity with them. Not sure if anyone at age 21 knows what they want to do, but you have to start somewhere. How do we tap into their potential without burning them out?

Thoughts of the Day: There are many reasons to figure out how to hire and retain an entry level workforce. Be sure to consider the young workforce’s needs when it comes to retention, but don’t forget to deal with the basic needs of every employee regardless of age or experience. Add doses of supervision, mentoring and coaching.

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