Among the fastest ways for a business to fail is because of mismanagement or malfeasance by ownership. On the other hand, among the slowest ways is an ineffective or dysfunctional sales department. Companies suffering from this malady may maintain just enough sales to stay afloat for...
Does your business market its products or services to other companies? Or might it start doing so in the future? If so, it is critical to recognize the key differences between marketing to the public — or even certain segments of the public — and...
‘Gamification.’ It is perhaps an odd word, but it is a cool concept that has become popular among many types of businesses. In its most general sense, the term refers to integrating characteristics of game-playing into business-related tasks to excite and engage the people involved. Might...
“I could sell water to a whale.” Indeed, most salespeople possess an abundance of confidence. One could say it is a prerequisite for the job. Because of their remarkable self-assurance, sales staffers might appear to be largely autonomous. Hand them something to sell, tell them a...
Deregulation of the energy industry was intended to give consumers a choice of electricity and natural gas providers and an opportunity to save money. However, many homeowners in deregulated states are receiving higher energy bills thanks to deceptive, and even fraudulent, door-to-door sales practices. Deception &...
A technician at a mobility equipment supplier was servicing the motorized wheelchair of a long-time customer and noticed it was a brand-new model. “Where did you buy the chair?” he asked the customer. “At the health care supply store on the other side of town,”...
When a business is launched, its owners typically welcome every customer through the door with a sigh of relief. But after the company has established itself, those same owners might start looking at their buying constituency a little more critically. If your business has reached this...
Is your sales process getting off-balance? Sometimes it can be hard to tell. Fluctuations in the economy, changes in customer interest, and dips in demand may cause slowdowns that are beyond your control. However, if the numbers keep dropping and you are not sure why,...
Do bad sales months often take you by surprise? If so, do not forget the power of flash reports — that is, snapshots of critical data for quick, timely viewing every day or week. One specific way to use them is to track bookings vs. shippings....
If your profits are falling compared to revenue and assets, your financial statements may provide insight into what is happening and how to improve your performance. Watch for red flags As you sell more and invest in additional assets, profits should, in theory, increase by a proportionate...