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Anyone that works in sales knows just how important it is to have lead sources to keep your pipeline filled. But it is not only how we obtain the leads that is important, it?s what we do with them once we get them.One of the most critical mistakes a sales person can make once they receive a lead, is not acting on it immediately.I once worked with a guy who belonged to a networking group, the soul purpose of his joining this group was to receive leads. This group wasn?t cheap either, it cost him $500.00 annually to be a member.He would come back from his weekly meeting with a lead in his hand and pin it to the bulletin board above his desk, and there it would stay until he noticed it a few days later.It drove me nuts!In sales, and it does not matter what you are selling, every day is critical! At any moment, your competitor can call your customer and walk away with the business.Another common mistake I have witnessed countless times, is contacting the lead in a timely fashion, but having absolutely no enthusiasm once you contact the customer.When you call a potential customer, smile as you speak to them, the customer will pick up on the inflection in your voice and respond to it.Don?t act as though the customer is a burden to you, and that you are doing them a favor.Remember, you are the expert when it comes to your product, don?t expect your customer to know everything, if they did, they wouldn?t need you. So make sure they know that you are happy to help them.Another no-no when following up on a lead is to yawn, sneeze, or cough into the receiver of the phone. I understand that these are normal and common bodily functions, but there is no excuse for doing it directly into the receiver, this is a great way to loose the sale, the yawn alone will most likely make the customer hang up the phone.Always put yourself in the shoes of the customer. Imagine meeting someone for the first time over the telephone and your conversation is being interrupted by yawns, and sneezes, I doubt you would be gung-ho about doing business with themFollowing up with a lead and then putting that person on hold is another common mistake I have come across. Although your reasons for putting your customer on hold may seem very important to you, your customer will find it to be annoying regardless of your reasons. So be sure to set aside a time to call your lead when you know the interruptions will be few.So the next time you receive a lead, act on it immediately, let your customer know that you are happy to work with them, speak clearly and avoid interruptions, and watch your sales productivity increase!

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Q: I am interested in starting my own business. I have a business degree and lots of experience in my chosen field, but I don’t know if I have the necessary skills to really make it on my own. Any advice?Marie C.A: You’ve hit the nail on the head, Marie, because when you’re an entrepreneur it’s truly up to you to make it on your own. Sure, you may have investors and advisors and employees and friends and family helping you climb the ladder, but in the end you’re the one who walks the high wire alone.There are a variety of skills you’ll need to succeed as an entrepreneur and chances are do not possess them all. One of the great things about being an entrepreneur is that if you lack certain skills you can always hire people with those skills to help round out your company skill set.Here are a few of the skills you’ll need starting out and others you can build upon later. Different stages of business require different skills.People SkillsEvery budding entrepreneur should have good people skills. The ability to walk into a room and befriend everyone there is often more important to your business than an investor with deep pockets. The more you can make people like you, the more they will want to do business with you.Networking SkillsNetworking is one of the best ways to build partnerships and find new clients. Networking simply means that you go to functions that attract the people you need to know. A successful entrepreneur is also a successful schmoozer. It’s the entrepreneurial equivalent of “kissing babies and shaking hands.” Whether it’s the weekly Rotary luncheon or a Chamber function, show up with a pocketful of business cards and meet as many people as you can.Leadership SkillsTo be an entrepreneur is to be a leader. Even if you are a company of one, you must have the skills to take charge and to lead. It’s much easier to learn leadership skills when you only have yourself to manage. These skills will come in very handy as you add employees and your business grows.Management SkillsManagement skills encompass a wide variety of tasks, including managing the daily operation, growth, employees, customer relations, investor relations, and so on. Poor managers make for poor entrepreneurs.Employee Relation SkillsYour employees are one of the most important assets your business has and it is important that as the boss, you develop a professional relationship with your employees. It is important that your employees feel appreciated and you show it financially and professionally.Team Building SkillsAs your organization grows you must have the ability to build a team that can take your business to the next level. Your team not only includes employees, but also partners, your accountant, your attorney, and investors. Anyone who has the ability to impact your bottom line and growth should be part of your team.Marketing and Sales SkillsUntil you grow your business to the point that you can justify adding a marketing person, it will be up to you to think up ways to market your business. As I’ve said before, marketing is one of the most critical areas of business as getting the word out to customers is the first step in generating revenue.Like marketing, selling is vital to the success of your business. Starting out you will probably be the one making sales calls and closing deals for your business. You must have the ability to sit in front of a prospective client and sell them on your service or product. Many entrepreneurs find this difficult to do as sales is more art than skill. This is also why one of your first hires when able should be a good sales person.Time Management SkillsUnfortunately, there are only so many hours in the day and for entrepreneurs that means we must manage our time well or inevitably some things won’t get done. I find that it helps to plan your day the night before. I know before I ever get to the office what I have to do that day. I know the order I will do things in. Of course, something always comes up to throw a monkey wrench in my plan. When the unexpected happens I try to add it to the next day’s schedule. If that’s not possible, I deal with it and then try to get back on track. That’s not always possible, but having a plan certainly helps.Do you currently have all these skills? Probably not. Very few people possess them all even after years in business. Does a lack of these skills mean that you shouldn’t start your own business? Of course not. Entrepreneurial skills can be learned and improved over time.Here’s to your success!Tim Knox

Article Source: www.iSnare.com

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For those of us working in the exciting world of sales, we are all too familiar with the pressures of meeting our daily, weekly, monthly, or quarterly goals. This pressure can sometimes cause us to loose focus on the simple things that made us successful to begin with.When we make a sales presentation, it is all too essential to look and sound the part. A professional appearance and product knowledge are to very important ingredients involved in sales.But don?t ever loose sight of the fact that sales is supposed to be fun!A personal story…I can remember a time a few years back, when I was managing a bank branch inside a supermarket, otherwise known as In-Store banking.At that time, we had daily goals that we were required to meet, and those goals were unit and dollar driven. It was a fast paced environment and every technique we could think of was incorporated into our sales. Nothing was taken for granted.Including the simple stuff.One particular afternoon I received a phone call from a woman who informed me that she was new to the area, and she was shopping around for a bank.We had a pleasant conversation, and I explained to her all of our products starting with our free checking, and ending with our more exclusive products.Once the conversation was over, she thanked me and told me she would consider us.I thanked her as well, and ended by telling her my name again, and that she could ask for me, if she decided to come in.The next day, that same woman walked into my branch and asked for me, she reminded me of the conversation we had the day before, and than proceeded to tell me that she came in because I was so nice on the telephone.The fact is, I was really nice on the telephone, I knew I had a potential customer on the phone and I killed her with kindness. Not because I was being slick, but because it was easy, it was simple, and I had fun doing it. And it worked.There was no selling involved in that conversation. I was just being a nice person.Salesmanship is important, but people want kindness to.My point is, take some of the pressure off of yourself and start having fun! Be nice, smile. It is not always necessary to act and speak so professionally, it can come off fake, and worst of all boring. So starting tomorrow, take a load off, roll up your sleeves, smile, laugh out loud, and most of all have fun and keep it simple!

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Q: I really want to start my own business, but I have no idea what business would be best suited for me. I’m also eager to get started, but I don’t want to pick the wrong business just because I’m impatient. How should I go about deciding what business would be best for me?– Samuel J.A: Before I answer your question, Samuel, I want you to reach around and pat yourself on the back for not letting your eagerness push you into making a wrong decision. All too often we entrepreneurs tend to let our impatience drive us to make decisions that we later regret. In business such haste can be very costly, indeed.I always compare starting a business to jumping into a pool of freezing water. There are typically two types of entrepreneurs who take the plunge.The first are the “Toe Testers.” These are those cautious folks who just stick their big toe in the pool to gauge the temperature of the water. It is for these careful entrepreneurs that the phrase “testing the waters” was coined. Toe Testers enter the business pool slowly, a little bit at a time. The lesson to be learned from Toe Testers is to start slowly and don’t feel like you have to wade in too fast. Ease into the business pool gradually to make sure it’s right for you. Remember, many entrepreneurs realize that the business world is not right for them only after they are in it up to their necks. And that’s when the term “sink or swim” takes on a whole new meaning.The next type of entrepreneur is the “High Diver.” These are those fearless souls who climb the ladder and dive into the business pool head first without worrying about the depth of the water or the dangers that lurk beneath the surface. It is for these entrepreneurs that the phrase “damn the torpedoes, full speed ahead” was coined. Quite often these entrepreneurial daredevils find themselves drowning in unknown waters or end up with their heads buried in the bottom of the pool.Both types of entrepreneurs may find success, depending on how well equipped they are to handle the water they are diving into. Here are a few ideas to help better prepare you for the plunge.** Let your experience be your guide. Start with what you know. If you have spent twenty years working as an accountant or you love to build wooden toy trains as a hobby, consider how you can take that experience and turn it into a successful business. You might also find a great business idea right under your nose. Look around your workplace. Do you see needs that are going unmet or can you think of a better way of doing something? If so, you might have the seed for a profitable business.** Do what you love and enjoy what you do. I can’t emphasize this enough. Many people start a business for the wrong reason: to get rich. While it is true that many millionaires in this country made their fortunes from their own business ventures, that should not be your sole motivation for starting a business. If you don’t enjoy what you do, you will not be successful, at least not from a mental point of view. Sure, the monetary rewards can be tremendous, but the mental anguish of working in a business you don’t enjoy is a high price to pay. I talk to entrepreneurs all the time who are running successful businesses, but are so unhappy as a result that they literally make themselves sick. If you don’t enjoy what you do the business will become a chore, not a joy.** Don’t reinvent the wheel, just make it better. Many first time entrepreneurs assume that they have to come up with a new business idea to be successful. That simply is not true. Most successful businesses are born not of innovation, but of necessity. Instead of trying to come up with an idea that changes the world, take a look at the world around you and see where there might be a void that needs filling or a business concept that needs improvement.Many successful businesses have been built by taking a traditional business and making it better. Domino’s Pizza was certainly not the first to offer home delivery of pizza, but they were the first to guarantee it would be delivered piping hot to your door in 30 minutes or less. Amazon.com was not the first company to sell books, but they were one of the first that would let you buy books from the comfort of your own home while sitting in your underwear.** Focus on a niche. Many businesses have gone broke trying to be all things to all people. The ability to offer a gazillion products under one roof is all well and good for Wal-Mart, but not for most new small businesses. Try to identify a niche that you would enjoy working in and think about starting a business therein. If you love to work outdoors, consider starting a landscaping business. If you enjoy working with numbers, think about becoming an accountant or CPA. When’s the last time you had your gardener do your taxes? You get the idea. Focus on a niche and become an expert in your field.** A franchise might be an option. Many new entrepreneurs consider buying a franchise operation instead of starting a business from scratch. Franchises are a good way to jumpstart the process because they have already done much of the hard work for you. They have proven the business model, established guidelines for running the business, spent millions of dollars on establishing the brand, etc. Buying a franchise is typically a very expensive and involved process that is beyond the scope of this article. The best thumbnail of advice I can give you is to thoroughly investigate the franchisor and the opportunity, use your own attorney to do the deal, and read the fine print in the franchise agreement.** It’s hard to swim in a crowded pool. If the business pool is already filled with other companies doing the same thing you want do, chances are you will fail in the face of established competition. To succeed in such a crowded pool you will have to do something to stand out from the crowd (and I don’t mean greeting customers while wearing a bright red Speedo). If you can’t quickly and easily differentiate yourself from a large group of competitors, you’re better off choosing another business.** Above all, take your time. Whatever business you choose to start, I encourage you to take the time required to make an informed, intelligent decision. Think about starting part time while you still have your current job (and income) to fall back on. Talk to friends and associates who use the product or service you will provide to see if they would consider become paying customers.Remember, in business you can end up swimming in success or sinking in failure. The key to your success might just lie in the sensitivity of your big toe.Here’s to your success.Tim Knox

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When I?m not running my own business, writing articles about business, speaking to groups and organizations about business, or consulting with companies who want my advice about the running of their business, I teach a weekly class on the subject of (care to guess?) starting and running a business.To quote my frequently-mentioned and wise-beyond-her-years teenage daughter, Chelsea, ?Dad, you really need to get a life.? This advice coming from a child who believes all roads lead to the mall.What my eldest offspring doesn?t understand is I have a great life. In fact, I am living the life I have always dreamed of living. My life just happens to revolve around Planet Business. I am an entrepreneurial addict, a business junkie. Business is my chocolate, my Krispy Kreme donut, my nicotine, my caffeine, my crack. Maybe I?ll start a 12 step program for entrepreneurs who want to kick the habit and charge a cover to get in. Hi, my name is Tim, and I?m an entrepreneur… Sounds like a great business idea to me.Out of everything I do I get the most enjoyment from speaking and teaching. Maybe it?s the old stand up comedian in me, but nothing feeds my addiction like standing in front of a room of entrepreneurs talking about the ups and downs, the ins and outs, the do?s and don?ts of business.My latest class of eager entrepreneurs is a special one in that it is made up almost entirely of U.S. Military Veterans: nearly two dozen men and women of all ages who either have a business idea in mind or are in the process of actually starting and running a business.Going around the room, I asked each student to stand up, introduce themselves, and talk a little about their business idea and what they expect to get from the class. As I listened to each Vet speak, I was impressed at the passion the entire group exuded. Most new entrepreneurs love to talk about their business idea, but this group was somehow different. They were more precise in their thinking, more intense, more passionate than the average entrepreneur. This group was not only excited at the prospect of starting their own business. They were downright zealous about it.As each Vet stood to talk about their idea and their expectations, the rest of the group hung on every word and was truly interested in what was being said. The typical entrepreneur is only interested in his own venture and has a hard time feigning interest in anyone else?s. That was not the case here. Each Vet not only listened intently, but empathized with the speaker, as if they were taking a vested interest in the speaker?s idea and were eager to help the speaker succeed. It was as if the group who had never met before, had come together as a single cohesive unit with one mission in mind: to succeed in business.The theme became: No man (or woman) left behind, in battle and in business.I supposed I should not have been too surprised. These were, after all, highly-trained, highly-disciplined individuals who have spent time in every corner of the globe in conditions most of us can only imagine. One young entrepreneur in particular was so freshly back from the Middle East that you could almost imagine sand on the floor beneath his boots.They are an impressive group, indeed, and it is my privilege to serve as their leader for the next six weeks. I am learning far more from them about the human spirit than they are learning from me about business. I hope they see it as a fair trade.Veteran entrepreneurs are emerging as one of the fastest growing segments of new entrepreneurs. According to a recent Small Business Administration (SBA) study there are approximately 4.2 to 5.5 million veteran-owned businesses in the United States. The study further revealed that 22% of veterans are either considering starting or purchasing a business in the near future or are in the business start up or purchase phase now.The SBA study was done as a result of The Veterans Entrepreneurship and Small Business Development Act of 1999, which required the SBA?s Office of Advocacy to develop information on the various programs designed to assist veteran and service-disabled veterans succeed in business.The SBA study found that:More than one-third of ?new veteran-entrepreneurs? and current veteran business owners had obtained skills from their active duty service that were directly relevant to business ownership. This should come as no surprise when you consider the intensity of the training and the emphasis on discipline that comes with military training.Over the course of their career the typical longer-term Veteran receives at least cursory training in everything from time management to employee relations to supervisory techniques to dealing with subordinates (employees) to budgeting and accounting to supply chain management and so on and so on.One organization that is working hard to promote entrepreneurship among Veterans is the Veteran?s Corporation. Headquartered in Alexandria, Virginia, the Veteran?s Corporation bills itself as ?the complete business source for current and prospective Veterans and Service-Disabled Veteran business owners, and for companies interested in working with Veteran-owned businesses.? The Veterans Corporation is a 501(c)(3) non-profit corporation that was created in 1999 by Public Law 106-50, which also set a 3 percent goal for federal procurement to Veterans including Service Disabled Veteran-owned businesses.The Veterans Corporation serves transitioning military personnel and all Veterans of the U.S. Armed Forces, National Guard and Reserve, seeking to link them with partners and purchasing agents in both the public and private sectors.Membership to the Veterans Corporation is free and available to all transitioning military personnel and all Veterans of the U.S. Armed Forces, National Guard and Reserve. Members will find assistance in securing capital for a business, entrepreneurial education, access to markets and services, and business networking.For more information or to apply for membership visit the Veterans Corporation online at http://www.veteranscorp.org/Here’s to your success!Tim Knox

Article Source: www.iSnare.com

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Q: I’m starting an online specialty shop that sells gifts and home accessories. I want to be able to have items dropshipped to customers through my site. I already have a Web site and a domain reserved, but I don’t have a lot of money to get this going. Can you offer any insight?A: Setting up relationships with companies who will ship merchandise directly to your customers for you– dropshippers, as they’re called–are an excellent way to start your e-business and, if done properly, don’t have to be a costly endeavor. There are literally hundreds of companies out there that will dropship products for you, everything from gifts and housewares to power tools and furniture.In a nutshell, here’s how dropshipping works. You set up an account with a dropshipper (or multiple dropshippers who offer different kinds of products) who provides merchandise that you can sell on your Web site. The dropshipper typically supplies you with images and product descriptions that you can use to build your online store or feature on static HTML Web pages.When a customer places an order for the product on your site, he or she pays you for the product. You, in turn, place the order with the dropshipper and pay them for the product. The dropshipper then ships the item directly to your customer under your company name. To your customer’s knowledge, the product was shipped by you.Dropshipping offers many advantages to the shoestring online start-up. You don’t have to pay for an item until it sells, and your customer pays you, so your personal cash outlay for the product is zero. You never have to handle or warehouse the merchandise, as order fulfillment is handled by the dropshipper. You can also offer a wide variety of items from multiple dropshippers, and your end customer is none the wiser.Dropshipping does have its downsides. Since you do not actually stock the products featured on your site, you have no control over inventory management, product availability, order fulfillment, shipping processes and so on. Still, if you do your homework and establish a good relationship with a reputable dropshipper, the problems you experience should be few.Your goal should be to find a dropshipper that will ship items one at a time instead of requiring that you purchase a fixed minimum number of items each time (single-unit purchases vs. minimum-order purchases). With this arrangement, you don’t have to invest your limited cash reserves in inventory that might not sell (and that sits in your garage for months).Thanks to the stiff competition the Web has created, many dropshippers will now do business with you without requiring that you have a tax ID number. You simply set up a reseller account (you’re the reseller) and start marketing the products on your site. Account registration can often be done online at the dropshipper’s Web site. With this process, you can literally be selling products within minutes of setting up your reseller account.Be warned, however, that some dropshippers are not as reliable as others. Also, be aware that some companies who claim to be dropshippers are really middlemen who have positioned themselves between the online merchant (that’s you) and the real wholesale merchandise distributor. These middlemen will eat into your profits and usually don’t offer much in the way of customer support and service. They can actually hurt your business more than help it, so make it a point to do business only with–and directly with–established, reputable dropship companies.Spend the time to research the dropshippers doing business in your particular product category, and try to get feedback from their current customers. Remember that your customer doesn’t know (or care) that the product they are purchasing from you really comes from a dropshipper. If there is a problem, your customer will come back to you for resolution, not the dropshipper, so make sure that the dropshipper you use has a policy for resolving problems quickly.Setting up an online store that offers merchandise from dropshippers doesn’t have to be expensive or time-consuming. However, this brings up the age-old question: If I build it, will they come? The age-old answer is: Only if you let them know you are there, but that’s another column.Here’s to your success!Tim Knox

Article Source: www.iSnare.com

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