Where it becomes problematic is when you are spending a lot of time on these tasks and not getting enough clients to hire someone to help. At that point in time, people tell me they need help with their ?time management'. I do not always agree.
The problem is actually much deeper, yet easier to solve. To start, every business owner needs to know the following:
- annual and monthly financial goals
- how many sales are required to achieve the goals
- how much marketing is required to get each sale
I'm sure you were with me for the first two, but the third one? That is a little trickier. I will walk you through it.
The first step is to determine where your most desirable clients come from. One way to do this is to list all your clients from the last 1-2 years, how much revenue they brought you and where they came from in a spreadsheet. Sort the list numerically by the revenues.
Study this list. Toward the bottom of the list you will find a natural break where you can draw a line, below which you don't want any more of those types of clients. Analyze those people ? where did you find them? What do they have in common? How can you avoid them?!
Next, look at those clients toward the top of the list. Draw another line separating the excellent from the good. Analyze the excellent - where did you find them? What do they have in common? How can you get more of them!?
This exercise may give you the opportunity to cut out some of your marketing activities that are fruitless. You are already on your way to becoming more efficient. Once you have determined which marketing strategies bring you the most money, do more of that.
Next, examine how many sales meetings it takes to get a client, and how many people you have to meet to get a sales meeting. Once you have figured this out, you can calculate how many people you need to meet in order to meet your financial goals.
After doing the math and the customer analysis, you can do more of what works, stop doing what doesn't work, and you will know how much marketing you must do to meet your goals!
Copyright (c) 2007 Audrey Burton
Part Time Sales Representative
1. Focus on the company's current challenges and those it's likely to face. Then determine ways that your product or service can help the company not just meet those challenges, but overcome them. "Present a department head with a solution to a problem--don't just go in there and try to sell something
2. Find out where cutbacks have occurred. As corporations concentrate on core businesses, they often trim nonessential departments and outsource more work. This could be a chance for your company to supply them with a service that used to be done in-house.
3. Get the names of the managers in targeted departments. Talk to them about their jobs, particularly some of the obstacles they confront. Find an ally on the inside who can help facilitate a sale. Don't, says Sohie, concentrate solely on the purchasing agent. "Their job is to focus on price," he says. "You want to seek out the person who needs help doing his or her job."
4. Find a niche. Create a product or service that doesn't go head-to-head with that of larger suppliers. Rather, try to make a smaller inroad by offering something unique to a company. To help do this, Sohie suggests making a detailed list of all the benefits your product or service can bring to the larger company.
5. Keep in mind that big companies have suppliers calling on them every day. But if you're able--and ready--to provide something different that solves a specific problem, you'll stand out and, just as important, avoid a price war that you probably can't win anyway.
6. Use your size. Instead of being intimidated, emphasize the advantages of smaller companies over their larger competitors: speed, customization, service and access to top management. You're apt to be more eager for the business. Let the big boys know it.
7. Consider a partnership. Look for someone you can work with on this one sale--even if it's a competitor. Getting in the door is often worth the shared sale.
8. Be patient. Entrepreneurs usually aren't too keen on the slow, methodical way corporate America operates--in fact, it probably reminds them of their old job. Don't expect the quick answers you give or get from smaller companies.
Finally, be prepared to be scrutinized, probably like you've never been before. In a very deliberate, detailed manner, corporations are likely to go over financial and other information, particularly before committing an order to a company that, in their minds, is untested.
Both Audrey Burton & Danny Austin are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Audrey Burton has sinced written about articles on various topics from Small Business, Work Life Balance and Credit Loans. Audrey Burton, Small Business Coach, is ?The Tigress?. Get her FREE Special Report, ?Closing the Sale is Not Complicated!? and her FREE monthly email newsletter at . Audrey Burton's top article generates over 74000 views. Bookmark Audrey Burton to your Favourites.
Danny Austin has sinced written about articles on various topics from Finances, Vitamin and Mineral Supplement and Small Business. If you want to learn some Power Principles of Maximizing Your Business Success for FREE, subscribe to my FREE Newsletter by visiting http://www.ministryofbiz.com/eproducts.html. Danny Austin's top article generates over 450000 views. Bookmark Danny Austin to your Favourites.
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