Business Development Advice

Factors for Managing a Sales Process

2010-02-13T07:39:00.000-06:00

Prospect Value and Probability Define key steps in a sales process - • Initial sales call stage • Formal presentation stage • Demonstration stage (if appropriate) • Proposal stage The probability of a close at each stage is based on historical data. If historical data is not available, then use similar client campaigns as a basis. Additional data can be supported by collecting industry or

Routine Sales Activity Outline

2010-02-13T07:33:00.000-06:00

I. Keys to Relationship Management: • Regular, Consistent, and Relevant Contact • Build Rapport - Trust • Ask For More Business and Referrals • Maintain Excellent Customer Service II. Controls & Monitoring: • Set Goals • Track Results • Monitoring & Forecasting III. Selling Process: The goal of the activity is to gain new business from prospects and existing clients. The sales process will

Social Network Sites for Business - Twitter may be the wrong choice

2010-01-27T16:09:00.000-06:00

Is Twitter becoming obsolete for business networking and promotion? Has it run its course and the novelty is starting to decline? Some businesses would agree. In the beginning, Twitter was promoted as the next big Internet social site. They promoted that you could stay in touch with all your contacts easily and frequently. However, from a business view, Twitter does not appear to offer any

Business Plans - What Goes In?

2010-01-20T15:55:00.000-06:00

Business plans need not be elaborate works of genius – they just need to be accurate and organized. Many authorities have different versions of what goes into a business plan. The plan is your guide to implementation. It should also be written so a third party can clearly identify its purpose and feasibility. The latter comment is generally required when seeking investors or partners. The

IRS Tax Refund Scam

2010-01-15T11:06:00.000-06:00

There is an email scam floating around these days. Recipients are receiving an email that appears to be sent by the IRS. The email looks very authentic, Beware! Do Not open this email or download the attachment in the email. It is a fraud. The IRS will NOT ever email you unless you first contact them. They WILL NOT EVER email you to tell you you owe money or are due to receive a refund.

MARKETING MODEL FOR BUSINESS

2010-01-06T13:34:00.000-06:00

1. SELF-ASSESSMENT 2. MARKETING PLAN DEVELOPMENT 3. SEGMENTATION (TARGET MARKET) 4. POSITIONING (BRAND RECOGNITION) Marketing Mix: PRODUCT + PRICE + PLACEMENT + PROMOTION + PERSUASION 5. TEST & EVALUATE 6. REFINEMENT To use marketing concepts effectively, the following steps are required: • Analyze your firm’s competitive advantage. What do you do best? • Identify specific markets you

SALES PLAN DEVELOPMENT

2010-01-06T13:11:00.000-06:00

Every sales manager must plan for success. No plan means no control. Trying to sell without a plan is like trying steer a ship without a rudder. Here is a list of elements required for developing a sales plan. If you find yourself struggling with content for each element, then it is time to work with a sales consultant. 1. Summarize and Identify Strategic Objectives 2. Determine Realistic

Happy New Year

2009-12-29T12:31:00.002-06:00

I hope you are enjoying my articles to help improve your business development endeavors. New topics and will be added over the course of the new year.I have a proposition for readers and subscribers. Tell me what kind of topics you want to learn more about. Suggestions are always welcome.This blog is for you, the reader, so please add your comments and make suggestions for future

Sales & Marketing Procrastination

2009-12-29T12:28:00.005-06:00

Sales and Marketing are key corner stones of a successful business. However, this has been proven repeatedly as one of the most overlooked and misunderstood strategic elements of small business plans.Many times, owners of small companies do not properly implement effective marketing strategies because they truly get caught in other daily activities of running their business, e.g. budgeting,

Follow-Up, Follow-Up, Follow-Up

2009-12-29T11:25:00.001-06:00

Follow-up is one of the most powerful skills in business, yet many people fail at this simple task. A person can argue their schedule is so busy that they don’t have time. This excuse does not warrant any merit. If you feel that your busy schedule is hindering your follow-ups, then you need serious evaluation of your organizational skills and time management abilities.Never leave a

Messaging your relationships during the holidays

2009-12-23T12:19:00.006-06:00

Much of your business success comes from and depends on building relationships. Your business is dependent on the people you connect with because people make many buying decisions based on relationships. Credibility and trust are central to establishing business relations with customers and your network. If you are not showing enough interest in your relationships, someone else will. A simple

Market Positioning

2009-12-15T14:50:00.002-06:00

Market Positioning is a module of the Marketing Matrix used to influence demand. Positioning can also create brand loyalty for repeat purchases. Briefly, the marketing matrix is comprised of product, pricing, promotion, placement, and persuasion. A product cannot be all things to all people -- universal appeal is a myth. Tastes are varied and preferences are diverse making it impossible to

The Marketing Concept

2009-12-15T12:58:00.003-06:00

Marketing is a management tool designed to facilitate sales. As a management tool, marketing is part of the overall business process operation involving effective planning, project organizing, staffing concerns, direction, and control systems. Selling cannot be productive without good marketing. Both marketing and sales are dependent upon each other even though they are different

Marketing Plan Introduction

2009-12-15T09:15:00.003-06:00

Marketing – It is an essential component of every business enterprise for attracting new customers, as well as retention of existing ones. There is no single marketing solution to fit all situations. A marketing plan is unique to each enterprise even if the same product (service) type is sold by competing companies in the same marketplace. The plan must also be dynamic because the market

How To Videos in Plain English

2009-12-09T15:15:00.006-06:00

They say a picture is worth a thousand words. Well, I came across this new service that seems to have taken this saying to a new level. It's called Common Craft (www.commoncraft.com) - an educational service using video. Common Craft is owned and created by Lee and Sachi LeFever based out of Seattle, Washington.The videos are short, simple, and very entertaining. Best of all, their how to

$ Effective B2B Marketing Tactics

2009-12-09T14:28:00.005-06:00

There are actually only four effective B2B marketing tactics for acquiring new clients. They are 1) Direct Contact 2) Networking 3) Promotion 4) Advertising and Publicity. However, it is not effective to use all four simultaneously. Direct Contact is by far the best method for gaining new business in the least amount of time. You still must know what methods to use for direct contact and most

Ripped Off and Sounding Out

2009-12-07T12:41:00.004-06:00

I've written and published my own original articles on many web sites including this blog. Recently, I joined a new publishing site to gain a little more public exposure for networking and building opportunities. I submitted a few of my previously published articles to get acquainted with the new site before publishing new content. Submitting previously published work is an acceptable practice

When a Client or Customer is Wrong

2009-12-07T11:04:00.004-06:00

Never tell a client or customer, "I told you so". You provide advice or offer a solution to your client, but sometimes they still go their own way. On occasion, their decision fails even though you warned them about the outcome. This is not an occasion to point out their mistake. Rather, it is an opportunity to shine and establish more credibility. Nobody likes to be told his or her

True Cost of Staff Compensation

2009-12-01T07:35:00.005-06:00

Staffing is probably the most challenging task and time-consuming tasks faced by any organization. It can also be the most expensive part of operating a business. Without good people, all enterprises cannot effectively pursue their goals and achieve objectives.How do you find qualified job candidates? How long does it take to recruit, hire, and train new people? How will you evaluate them to

Character, Capacity, Capital, Conditions, and Collateral

2009-11-24T14:02:00.001-06:00

Character – This relates to the motivation of the borrower to repay a debt obligation. It is unlike any other financial performance indicator found in the financial statements. Determining character is a judgment call derived from careful interviewing of the applicant and study of the applicants’ historical credit reputation. Background checks and interviews with others having business

Tips for creating an effective cold call pitch

2009-11-17T18:06:00.002-06:00

Effective messaging is critical in delivering your sales pitch to grab attention. Poor messaging and inadequate prospect targeting will stifle your effectiveness.Plan your calling effort in advance. Do some homework about your prospect - Know something about your prospect or the industry in advance. Make sure you are talking to a decision maker prospect when you call. Know why you are calling

Website Marketing – A Tool, Not A Strategy

2009-11-11T11:52:00.004-06:00

Think twice the next time you want to market your enterprise with a website. There is a lot of distorted information in the business world about Web Marketing. Many IT or Web Design consultants profess themselves as marketing experts. They tell you that creating effective web content or using the right key words will get you more customers. They tell you that higher ranking in search engines

Identify Real Opportunity

2009-11-03T15:36:00.001-06:00

You worked hard doing market research, developing a good prospect list, prepared a good value proposition, and crafted a snappy sales script. Now you begin contacting prospects and making appointments. Is your prospect truly in a position to buy? Only qualified prospects are worth your effort – otherwise you have wasted valuable time and resources.What can you do that will increase chances of

Market Research Primer for Beginners

2009-11-03T15:32:00.004-06:00

A well-defined Marketing Strategy is dictated by your Marketing Plan and influenced by your research. This can be complex, but some basics are worth noting. I cannot hope to encompass all aspects of Marketing Research elements in this article. My intent is to give you an idea where to start and get you thinking in the right direction.A marketing strategy should boil down to identifying

Chief reasons behind business failures

2009-11-02T16:20:00.002-06:00

Approximately two-thirds of all business failures stem from improper marketing and poor management. Improper marketing can and usually is a result of not understanding what your buyers really want. Poor management is not about brain power - it's about not understanding how to manage the resources available. Planning properly and actually using the plan will help get ahead of the game. More on