1. Consider expanding into foreign markets
North America isn’t the only market in the world. Even a small business, in many cases, can expand their sales reach to include foreign markets. To determine if this is a wise option for you, begin by developing relationships with export centers and other associations specializing in reaching foreign markets.
2. Reach out to new market sectors
Very often a company can sell an existing product to a new target market with little more than a shift in market positioning. Some companies can significantly increase their customer base by doing this. For example, Nintendo successfully expended their share of the electronic game market with the Wii product by promoting video games to the previously untapped market of middle aged women. So ask yourself, who else might be interested in your products or services?
Posted on Jan 31, 2013 by Wardell Admin
Sales is just as much about the customer as it is about the salesperson.
Investing in a strong sales system is one of the most efficient ways to see a return on your employees sills. Rejection is a part of any salesperson's job but with a strong system of support, guidance and continuous improvement your sales people can confidently perform in even the most competitive markets.
1. Hire sales people with the right attitude
Sales is a people oriented occupation, you need people oriented people to close a sale. Reviewing your hiring system will ensure you bring the right kinds of people in your sales department.
2. Create a bonus structure that kicks in at various predetermined sales volumes
“Financial Carrots” can help motivate sales people to close a sale. Review your compensation system so that it motivates the right kind of behavior in your sales department.
3. Insist on a minimum number of sales calls per day/week and track them
Establishing a baseline will guarantee a certain level of success for your sales people and will breed success from success.
4. Organize supportive and motivational sales meetings on a regular basis
Everyone needs a little push now and again. Review the communication systems you developed to determine the impact they are having on your sales department.
5. Provide ongoing sales training
Sales people are responsible for generating revenues so make sure they are continuously improving their skills and honing their pitch.
6. Provide outstanding sales tools
Great tools help sales people look and feel more professional. Review the tools you are offering and consult with your sales staff to make sure they are adequately prepared.
7. Encourage a corporate culture that promotes pride in your company
People who are genuinely proud of their company and its products have little reason to fear rejection. For more a great advice, see what Wardell has to say on Handling Prospect Objections
Posted on Jan 24, 2013 by Wardell Admin
1. Don’t pass the buck
When things don’t go as planned, great leaders take responsibility for their own actions (or inactions). Do this consistently, and teach your people to do the same. Once everyone starts taking personal responsibility for their work, your productivity will climb dramatically.
2. Start working towards “open-book management”
When you share your company’s financials with your employees, you encourage them to behave more like owners. Many entrepreneurs worry their employees will think the company makes too much money, but most employees actually overestimate the company’s bottom line before they are exposed to it. It’s not an easy step for most entrepreneurs to take, but those that do typically find the benefits are worth the risk.
3. Do the tough stuff first
One of the simplest, yet most effective strategies for dealing with procrastination is to cross the tough stuff off your to-do list first. Teach yourself to do this and then train your employees to do the same. If you can stay committed to the process, you’ll build an incredibly productive corporate culture.
Posted on Jan 17, 2013 by Wardell Admin