Using Sales Mentoring to Your Advantage

Posted on March 10, 2009

Before I even opened up my business I knew that I could benefit from some comprehensive sales mentoring. I was unaware of many of the latest sales help strategies and marketing outlets that had become popular. I was a professional painter that had always dreamed of owning my own painting company. After years of saving and receiving a small inheritance from my deceased mother, I could finally afford to live out my dream.

I went out and bought all of the equipment that I would need for both commercial and residential painting jobs. Although much of the equipment was second hand my enthusiasm was boundless. I purchased two work vans and had the logo of my new company and the contact information painted onto them. Finally, I hired two painters that I had known for many years to assist me with my work. After all of the required paperwork was filed and my company insurance premium was paid and activated, I was ready to start to paint.

My business was all ready to go; I just needed to find some customers so that I could book my entire summer up with appointments. I decided that I needed some serious sales mentoring and that I needed to enlist the help of some professionals. I found a local advertising company that was willing to help me successfully launch my new company.

The first step that the company took was to advertise in several local magazines that specialized in home services and repair/improvement companies. This would be specifically relevant to the type of work that I was performing. People that are looking for home repair work or painting use these magazines to find local companies.

They also sent out mailers to residents of some of the older subdivisions in my community whose homes could probably use a fresh coat of paint. I thought that it was a great idea to target the customers that could benefit from my services the most. The advertising company also had signs made up that alerted neighbors that my company had completed the paint job on their neighbor’s home so that they could see my superior quality work firsthand.

I was highly impressed by the sales mentoring that I received from the company. They worked hard to identify my potential customers and to target them through their advertising methods. Their professional knowledge and diligence proved to be an indispensible resource in successfully launching my painting business.

0 Comments • Filed in Business Sales

Think Annuity

Posted on March 7, 2009

I recently spoke asked my brother, who is a financial planner in Greenwich, CT, where his high net worth clients are putting most of their money these days, given that alternative investments (mostly hedge funds) have had their worst year ever and that conventional investments like stocks, bonds, and commodities haven’t fared much better, either. He told me that more and more of his clients are asking him if they can buy annuity products from him because they are interested in preserving principle and accumulating wealth slowly, without the volatility that’s inherent in riskier assets like stocks and bonds. In response to their demand, he has started selling annuity payments and has made a pretty penny doing so – in fact more than he generally makes in fees and trading commissions from his client accounts. He explained to me that annuities are a win-win for the salesperson and the customer.

The customer is usually guaranteed to receive the full amount of their principle back over the course of the annuitized payments; or at very least to receive a minimum payment that reflects some correlation to the size of the principle. More than that, however, they are often able to borrow money against future cash flows from their business in order to allow the compounding returns of the underlying annuity investments – usually principle-protected income products like bonds – to really grow their own personal wealth without all of the volatility associated with conventional securities or investment vehicles.

For him, as the guy selling annuity products, my brother has made a fortune. Since annuities are kind of like reverse insurance policies, calculated based on actuarial tables and conservative estimates of the returns on the underlying annuity investments, a profit margin is easily calculable and the seller is given a big cut of the profit as a commission. And since so many of his clients are able to leverage their principle against future business cash flows, principle amounts easily push $1m, putting his commissions well into the 5 digits for each annuity he sells.

Initially I thought there was something wrong about how much he could get paid for the sale, especially given that it is really so little work for him to sell the product. But the longer I thought about it, the more it seems like a fair exchange, just like any other insurance transaction. In return for stability, security, and yes – in the end, real, augmented wealth by way of leverage – it seems only fair that the people who buy annuity payments should pay a bit of a premium.

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Making a Splash with Effective Context Planning

Posted on February 23, 2009

As a small business owner, I had limited options as far as advertising goes. I did not have a big budget to work with, and to me, every customer counted. I knew that advertising was imperative to building up clientele but I wasn’t sure which advertising avenue to explore. I owned a smaller deli that was successful, and I wanted to start offering catering services in order to make some more money. The deli business was going great; I had regular customers coming in for sandwiches and soups all the time. I really wanted to spread the word about my catering services because catering orders brought in a higher volume of sales.

I stuck with what I knew, I wanted to offer catered lunches for local business and for other functions. I developed a menu, calculated reasonable pricing options and packages, and decided that I really needed to get out there and advertise my new services.

I looked into a few different advertising options. I wanted to grab the attention of places that would offer catered lunches such as schools and businesses. I went out to several of these locations handing out menus to receptionists at the front doors, but no one called.

I decided on trying out some outdoor advertising. I had a few large professional signs made and I placed them in a few particular locations. I put one right out in front of my store on the street front so that passing motorists could see it easily as they drove past. The location of my deli was right in the middle of town, but the store front itself was slightly recessed from the street, it was the prime location for outdoor advertising. The sign optimized the location and brought attention to my deli.

I placed the next sign out on the corner of the entrance to a business park. I figured that it was another great location to get the attention of some of the potential clients that I was looking for. Then, I went to the neighborhood school and placed a few more of my signs out making sure that I wasn’t breaking any laws concerning their placement. I ended up having to put the signs a little ways away from the actual school building but along the main road to the school.

These outdoor advertising techniques worked out perfectly. Within one week I had booked five different catering lunches. Three were from the business park and two were from the schools.

0 Comments • Filed in Uncategorized

Recession Special

Posted on February 22, 2009

During the toughest times in the business cycle – a cycle that has been amplified by the effects of the real estate crash in southern California – owners of businesses of all sizes ought to be doing whatever it takes to trim down on the cost of their products, the costs of administering their business, and the costs of holding inventory. Only after a campaign of prudent cost-cutting can businesses afford to begin strategizing for the future.

To cut down on the cost of products, businesses can reduce workforce or find cheaper components for whatever it is they’re manufacturing if they aren’t in the service business. For Hollywood movie producers, this has implications, just as it does for Downtown apparel manufacturers: to reduce the cost of a final product, a producer chooses less expensive actors just as an apparel manufacturer will try to find less expensive fabric and less expensive ways to stitch it together (fewer employees on the production line?) By improving cross margins, pressure on operating margins is greatly reduced and the business is repositioned to really thrive in climates conducive to high operating profitability.

One of the best ways that businesses in and around LA can reduce their administrative expenses is by getting telecommunication expenses under control. This means shopping around for a Los Angeles broadband provider that will be able to integrate VOIP solutions into your package, which can save businesses up to a thousand dollars a year per employee on phone service over a hosted PBX or other phone company solution, depending on how many phone calls you make. Choosing a locally-based provider all makes a fair bit of sense from a service aspect; dealing locally means that there will be someone who is accountable for your service and present to endure your wrath should anything go awry – a great incentive to get things working again quickly. Other ways of dealing locally that can save on administrative expenses are seeking out the best prices on electricity and office supplies like paper as well from smaller, local vendors who are able to supply discounts in return for a large purchase from you.

Lastly, reducing the cost of inventory – the interest or opportunity cost of capital tied up in inventory – is crucial to success. Whether your business is a lawfirm and your inventory is ‘billable hours’ or your business makes shoes, reducing the quantity of inventory you’re holding and not discounting accounts receivable is a smart way to keep cash flow positive.

Of all the methods to save money for small businesses, finding a Los Angeles broadband service to save your money on your phone and internet bills is by far the easiest. Any smart business owner has a fiduciary responsibility to make a change to a more affordable provider.

0 Comments • Filed in business voip providers

Enlisting a Property Business to help you is a good idea

Posted on February 21, 2009

I had been in the market for a Chicago condominium for about six months. Although there were thousands of condos that were for sale I was having difficulty finding the right one. Finding a place that suited all my needs was proving to be quite the challenge. I was looking for a condo that was close to the “L” so that I could use public transportation in order to travel between home and work. I also wanted a condo that had two bedrooms and two baths since I was frequently visited by out of town relatives. The third priority that I had was that I needed a condo that had some type of outdoor balcony area since I enjoyed getting fresh air and sitting outside as much as possible.

I had outgrown the Chicago condominium that I currently resided in. There were two bedrooms, but the guest bedroom was incredibly small and I could barely fit a bed in there let alone a desk with my computer. There was also only one bathroom, which quickly became congested when I had friends or family over. I did enjoy the dining room that I had and the outdoor balcony. It was important for me to find both of these features in my next condo. My current condo was also located only one block away from the “L” station that I used to get to my job in the loop. I needed to find a condo that would also be close enough for me to walk to public transportation.

I was getting frustrated with my real estate agent who kept trying to get me to visit condos that did not meet my standard requirements. There was no point in looking at condos that had only one bathroom, even if they had huge dining rooms and great patios. I needed a condo that had two bathrooms and looking at anything else was a waste of my time. My agent kept trying to convince me that I needed to see what was out there on the market, but really all I wanted to see were condos that had everything that I was looking for.

I finally decided that I needed to switch agents or else I would never find the perfect Chicago condominium at the rate that I was going. This proved to be the best move that I could’ve made, my next realtor took me to see three condos on out first day out and they all had every one of the amenities that I was looking for.

0 Comments • Filed in Real estate

Increasing your manufacturing speed

Posted on January 9, 2009

The field of robotics has expounded in nature, covering virtually every job and task on the assembly line. Development of the scara robot has allowed for the development of a small industrial robot that is suitable for any job that needs performed in the manufacturing process. Not only can these industrial robots be calibrated to perform any job, they can be utilized to perform a variety of jobs, maximizing their adaptability on the manufacturing line.

There is simply no excuse for not automating every step of the manufacturing process. Monotonous work naturally leads to human errors which can be eliminated through the instigation of a scara robot. Increasing speed as well as efficiency, robotics maximize the potential of a manufacturing line, increasing the quantity as well as the quality of the product produced. Instigating a small industrial robot at every step of the process saves money, easily making up for the cost of switching to automation within a few years.

The fact is human beings are just to important to waste on such mundane tasks, jobs that not only waste the quality of life but are dangerous and dirty to begin with. Letting machines take over these steps of the manufacturing process is not only humane, it frees humans to work more satisfying levels of employment, utilizing computer design and programming skills that are still essential to the manufacturing line. With the institution of robotic technology, people perform better jobs more suited to a higher quality of life as the technology needs cared for and programmed.

Standard models of robotic arms allow for a maximum payload of 3 to 20 kg, depending on the model needed. There are models available for all levels of jobs, with prices varying according to the versatility of the model. As the field of robotics becomes a more standardized science, robotic technology is quickly becoming more affordable, making it the standard of the manufacturing world.

When it comes to increasing speed and efficiency, the employment of a scara robot on the assembly line is essential. Technology is realizing the benefits that industrial robots have to offer. It’s becoming a new world where robotics on the assembly line is the norm. By saving on labor, robotics enables many manufacturing plants to remain domestic, cutting down on labor costs without having to vacate their native country.

0 Comments • Filed in Robotics

find the right business for you

Posted on December 26, 2008

Everybody knows that tough economic times require small businesses to be creative about the ways in which they spend money and acquire new customers. Yet perhaps some of the best savings for small businesses can be almost too easy. By switching from phone company telecommunications solutions to any of the number of business voip providers, who provide calling at a fraction of the price that the phone company charges, small businesses can save roughly 50% on their phone bill – a bill that is usually upwards of $60 per phone per month at small and mid-sized businesses.

 

When shopping for new phone service, there are a few very important factors to consider, besides price. First, consider whether your business has the resources and know-how to host its own PBX phone system. While hosting a PBX network in house can save money over the very long term, it is far from a core competency for most businesses, and the initial investment in hosting hardware is hard to recoup. Therefore, most businesses will want a hosted VOIP solution. Next, solutions run the continuum from bare bones service and dirt-cheap calling to full-service implementation and support at a much smaller discount from the phone company. Consider your needs. If you’re like most small businesses and do not have a dedicated telecom IT specialist, you should choose a voip business that is known to be a provider of excellent customer service. (Jive is often considered to be the best in this camp.) Last, consider what kinds of phones each company offers. Many of the voip solution companies offer phones that are quite complicated for those who are not tech savvy, or only offer 2 or 3 different phones. Choose a company that offers a number of different phones for different needs. It is crucial that offerings include phones that are compatible with sidecar attachments, conference call phones, and executive phones that have embedded technology that clarifies and richens the otherwise tinny-sounding voice produced by the IP transmission. 

0 Comments • Filed in business voip providers

Investing with style

Posted on December 23, 2008

Variety in commodities funds protects your investments

These days, there is no single safe investment. In fact, there’s more safety in numbers. Successful investment capitalists today invest their stocks in numerous markets, keeping their hands in a number of assets to minimize the loss in the event of a collapse of a single market.

Variety adds more than spice to the investment game. It adds insurance and cohesion. Commodities funds should be invested over a wide range of markets and assets, protected against any single big loss.

That’s the beauty of managed futures, an alternative investment that takes advantage of a variety of markets in order to minimize risk and maximize growth. They are ideal in today’s difficult economy, providing the necessary insurance to protect assets as markets shift unpredictably. By taking long and short positions futures contracts, government securities and options on future contracts, these portfolios shift money to a variety of different avenues tp maximize safety while making the most on returns.

Finding an extensive network of over 400 commodity trading advisors who manage your money with the greatest leverage possible is not as easy as it used to be. Ones that offer competitive performance fees, maximizing your dollar and making the most of your returns aren’t as accessible as they used to be.

Financial experts excel in a variety of markets, managing your money as if it were their own. By using multiple portfolios, your investment grows in areas primed for the changes of the market, minimizing your loss and maximizing your gains.

Commodities funds trading might not be as simple as it used to be, but complexity doesn’t necessitate unneeded risk. Financial experts are up to date with current market trends, constantly analyzing its changes and adjusting portfolios when necessary. There’s no need to play the investment game alone.

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A Look at the DC Welder

Posted on November 21, 2008

To gain a fuller understanding of what an dc welder does, let’s first get a brief overview of the history of welding. It will help you to see clearer how the profession of the arc welder evolved as a profession.

A Brief History of Welding

Welding is a process by which certain materials – usually thermoplastics and metals – are fused together. This is usually accomplished by melting the materials together. Then, some type of filler agent is used to form what’s known as a weld puddle around the fused parts. Once this cools, it becomes a reinforced joint of sorts.

It wasn’t until the conclusion of the 19th century that welding began to undergo changes. This was the beginning of the need for the arc welder. Until this time period, the only type of welding done was forge welding. It had been used by blacksmiths for hundreds of years to join metals. As seen in many westerns, this was done by pounding them.

Arc and oxyfuel welding were the first new welding processes to come on the scene. After World Wars I and II, these and other types of welding became popular because they were not only reliable, they were low-cost as well.

The Rise of the DC Welder

As welding technology continued to develop in the first part of the 20th century, the need for the professional arc welder grew.

There are two very common types of advanced arc welding – MIG welding and TIG welding. Each requires a different type of arc welder, ie, a MIG welder and a TIG welder. The difference is in how they work.

A TIG arc welder fuses their parts together by grasping a welding rod in one hand and an electric torch in the other. A MIG arc welder uses a semi-automatic process to join their materials together, eg, a wire feeder instead of a rod.

An dc welder is a highly trained professional, and works in many different sectors – from manufacturing to construction.

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New commercial trends

Posted on October 7, 2008

If you’ve ever turned on the tube late at night and tried to find something to lull you back to sleep, chances are you’ve encountered an infomercial. Infomercials are ubiquitous and are notorious for playing on their viewers’ late night judgment, which is often impaired owing to insomnia, sleep deprivation, or any of its causes – depression, anxiety, etc. Consequently, they are often designed to play to peoples’ insecurities – their weight or poor complexion – or else their weakened judgment in discerning just how necessary another ultra absorbent chamois really is.

Lately, however, that’s begun to change. More and more aptly-named “TV entrepreneurs” are hitting cable with products that don’t play on insecurities but rather mimic a real TV format. This new generation of infomercials employs what are more quickly becoming the new standard in infomercial production techniques. Whereas infomercials have historically employed so-called “real studio audiences” or D-list celebrities espousing the merits of a product, infomercials are now often designed to mimic the appearance of a real, late night TV show or good housekeeping show, or even a shopping network’s real regular programming. The result is an increasingly predatory programming lineup in which unsuspecting consumers are the targets of massive misrepresentation.

Thankfully, more reputable infomercial production companies are refusing to stoop to these new, deceiving lows in sales. This is in part because producers consider the new techniques to be deceptive, and therefore unethical. But the main reason some infomercial companies refuse to partake in the new deception scheme is that most have found that, in the long run, products that employ deceptive marketing never succeed on the scale of their more legitimately marketed counterparts, even if they are good products. This is mostly due to the fact that there is a much smaller demographic that shops from TV shopping networks than the segment that will buy something based on a 30-second spot or one of its longer counterparts. 

So if you’re in the exciting position of having to decide how to market your new product on TV, consider going to one of the best infomercial production people so that you’ll be dealing with someone who has the long-term success of your product in mind. You’ll be glad that you did, and – who knows – you may be lucky enough to be maker of the Next Big Thing. Oxyclean, anyone?

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