Sales Tips to Make a Small Company Look Big

Posted: 02/23/2013 1:18 pm

by: 

Russ Warner

Software entrepreneur, CEO of ContentWatch-makers of Net Nanny

Having worked in sales organizations of various sizes, I know that sales are critical to launching and expanding your business. Without a strong product message and great salespeople, few will buy your product -- no matter how amazing it is. In fact, without good salespeople, most companies shrink and die.
How do small companies build effective skills in the sales team with no training budget?
It's not easy, but smaller organizations should gather best practices from others. By doing so, the level of sales team sophistication increases and success rates should also improve when best practices are implemented.
Here are three simple ideas that have paid great dividends for me in effectively selling solutions:

• Find out your customer's overall business strategy.
• Determine the sales contact's personal and business goals.
• Find out the consequences if current challenges are not resolved.

With this knowledge in hand, and assuming your product is a viable option, a salesperson can focus her discussions and messages exactly where the customer needs them. This practice can make a salesperson look very polished.
How can you gather this info? The following are simple steps to take to get up-to-speed on an organization's business strategy.

• Create Google alerts to be notified of any news about your customer's organization or industry.


• Read the owner's, CEO's, or president's message on the company web site, newsletter, annual report, etc.



• Peruse the company's web site for news or events to find trends and what's most important.


• Read press releases and review the "About Us" statement in each press release.

With this simple research in mind, contact the company and seek out the primary contact person. When speaking to that person, ask her to tell you of the goals and challenges the organization has overall. With a knowledge of the company and industry, a salesperson might be able to contribute to articulating those things and the customer will likely be impressed by the homework done. The desire to understand her business might seem refreshing to the customer. Most salespeople just go for the close during the first contact.

Next, ask the customer to articulate any specific problems that need to be solved soon, and get as much detail as possible. For example, gather details from the customer to be able to repeat a concise statement of the problem, such as "Our company needs to sell an XYZ solution starting in Q3 with an uptake rate of 3 percent for your current home users, which is about 25 percent of our customer base, with a price point of $4.99 per month and blah blah blah..."

Then, ask the customer to articulate what would happen if the problem doesn't get solved. What would happen if a solution isn't adopted? How will the company be affected? With these threats in mind, the customer may be more compelled to act.

To make it even more convincing, get the customer to talk about how she would be personally affected. Would she be demoted, lose a bonus, lose his job, etc.?

Ask her to discuss what would happen if the solution was successfully adopted. Get her to envision that success. Would she get a raise? Get a bonus? Get a promotion?

By doing this, you create a sense of urgency for the customer with a positive outcome for her personally. If you create urgency, you can more likely get a sale to occur more quickly. If your solution solves a customer need and creates a personal win for the contact person, your chances of winning (closing) are very good.

If the customer decides to pass for the time being because of budget shortfalls, you're no worse off than you were before, and you've established another contact in the industry.

Wait a few months and get back in there with the solution when a new budget cycle is approved.
I've seen these tips make a salesperson stand out among the rest because they are sophisticated tactics.

Follow Russ Warner on Twitter  www.twitter.com/RussWarner

 

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10 Habits of Remarkably Charismatic People

OWNER'S MANUAL | Jeff Haden

http://www.inc.com/jeff-haden/

Charisma isn't something you have. It's something you earn. Here's how.

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Some people instantly make us feel important. Some people instantly make us feel special. Some people light up a room just by walking in.
We can't always define it, but some people have it: They're naturally charismatic.
Unfortunately, natural charisma quickly loses its impact. Familiarity breeds, well, familiarity.
But some people are remarkably charismatic: They build and maintain great relationships, consistently influence (in a good way) the people around them, consistently make people feel better about themselves--they're the kind of people everyone wants to be around...and wants to be.
Fortunately we can, because being remarkably charismatic isn't about our level of success or our presentation skills or how we dress or the image we project--it's about what we do.
Here are the 10 habits of remarkably charismatic people:
1. They listen way more than they talk.
Ask questions. Maintain eye contact. Smile. Frown. Nod. Respond--not so much verbally, but nonverbally.
That's all it takes to show the other person they're important.
Then when you do speak, don't offer advice unless you're asked. Listening shows you care a lot more than offering advice, because when you offer advice in most cases you make the conversation about you, not them.
Don't believe me? Who is "Here's what I would do..." about: you or the other person?
Only speak when you have something important to say--and always define important as what matters to the other person, not to you.
2. They don't practice selective hearing.
Some people--I guarantee you know people like this--are incapable of hearing anything said by the people they feel are somehow beneath them.
Sure, you speak to them, but that particular falling tree doesn't make a sound in the forest, because there's no one actually listening.
Remarkably charismatic people listen closely to everyone, and they make all of us, regardless of our position or social status or "level," feel like we have something in common with them.
Because we do: We're all people.
3. They put their stuff away.
Don't check your phone. Don't glance at your monitor. Don't focus on anything else, even for a moment.
You can never connect with others if you're busy connecting with your stuff, too.
Give the gift of your full attention. That's a gift few people give. That gift alone will make others want to be around you and remember you.
4. They give before they receive--and often they never receive.
Never think about what you can get. Focus on what you can provide. Giving is the only way to establish a real connection and relationship.
Focus, even in part and even for a moment, on what you can get out of the other person, and you show that the only person who really matters is you.
5. They don't act self-important…
The only people who are impressed by your stuffy, pretentious, self-important self are other stuffy, pretentious, self-important people.
The rest of us aren't impressed. We're irritated, put off, and uncomfortable.
And we hate when you walk in the room.
6. …Because they realize other people are more important.
You already know what you know. You know your opinions. You know your perspectives and points of view.
That stuff isn't important, because it's already yours. You can't learn anything from yourself.
But you don't know what other people know, and everyone, no matter who they are, knows things you don't know.
That makes them a lot more important than you--because they're people you can learn from.
7. They shine the spotlight on others.
No one receives enough praise. No one. Tell people what they did well.
Wait, you say you don't know what they did well?
Shame on you--it's your job to know. It's your job to find out ahead of time.
Not only will people appreciate your praise, they'll appreciate the fact you care enough to pay attention to what they're doing.
Then they'll feel a little more accomplished and a lot more important.
8. They choose their words.
The words you use impact the attitude of others.
For example, you don't have to go to a meeting; you get to go meet with other people. You don't have to create a presentation for a new client; you get to share cool stuff with other people. You don't have to go to the gym; you get to work out and improve your health and fitness.
You don't have to interview job candidates; you get to select a great person to join your team.
We all want to associate with happy, enthusiastic, fulfilled people. The words you choose can help other people feel better about themselves--and make you feel better about yourself, too.
9. They don't discuss the failings of others...
Granted, we all like hearing a little gossip. We all like hearing a little dirt.
The problem is, we don't necessarily like--and we definitely don't respect--the people who dish that dirt.
Don't laugh at other people. When you do, the people around you wonder if you sometimes laugh at them.
10. ...But they readily admit their failings.
Incredibly successful people are often assumed to have charisma simply because they're successful. Their success seems to create a halo effect, almost like a glow.
Keyword is seem.
You don't have to be incredibly successful to be remarkably charismatic. Scratch the shiny surface, and many successful people have all the charisma of a rock.
But you do have to be incredibly genuine to be remarkably charismatic.
Be humble. Share your screwups. Admit your mistakes. Be the cautionary tale. And laugh at yourself.
While you should never laugh at other people, you should always laugh at yourself.
People won't laugh at you. People will laugh laugh with you.
They'll like you better for it--and they'll want to be around you a lot more.

http://www.inc.com/jeff-haden/10-habits-of-remarkably-charismatic-people.html?nav=next

Warren Buffett

http://theweek.com/supertopic/topic/254/warren-buffett Most recent posts. en-us Thu, 14 Feb 2013 16:08:00 -0500 http://theweek.com http://theweek.com/images/logo_theweek.png Thu, 14 Feb 2013 16:08:00 -0500 http://theweek.com/article/index/240203/warren-buffett-buys-heinz-another-big-win-for-the-oracle-of-omaha http://theweek.com/article/index/240203/warren-buffett-buys-heinz-another-big-win-for-the-oracle-of-omaha

Billionaire investor Warren Buffett is adding "ketchup magnate" to his resume. On Thursday, Buffett's Berkshire Hathaway agreed to buy the H.J. Heinz Company, adding another iconic brand to Buffet's portfolio. 

Berkshire will team up with Brazilian private-equity firm 3G Capital to buy the 144-year-old packaged-foods company. The $23 billion deal will be one of the largest food industry acquisitions ever. 

"This is my kind of deal and my kind of partner," Buffet told CNBC.  Buffet, who is known for vetting his investments carefully, praised Heinz's "fantastic brands."

"The company...

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The video: Four entrepreneurial teens learn financial lessons, money management skills, and receive business advice from the Oracle of Omaha himself, Warren Buffet in the new animated web series The Secret Millionaires Club. The goal is to teach young kids good financial habits at an early age by tackling relatable problems, such as a low-performing lemonade stand or a troubled bicycle shop. Sunday's premiere features a guest appearance by another high-profile mogul, hip-hop king Jay-Z, who briefly mentors the students: "As a team you can put your interest in business to good use," he says...

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"Raise my taxes." That's the crux of Warren Buffett's message in his New York Times op-ed piece, "Stop Coddling the Super-Rich," published Monday. Concerned that mega-wealthy investors like himself aren't paying their fair share of taxes, Buffett writes, "While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks." He suggests an immediate raise in taxes for those earning more than $1 million — including income, dividends, and capital gains from investments — with an additional...

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Warren Buffett issued a "modest mea culpa" to shareholders of Berkshire Hathaway this weekend, saying he "made a big mistake" in his dealings with a disgraced former lieutenant once seen as his likely successor. The executive, David Sokol, bought $10 million in shares of Lubrizol, a chemical firm he then pitched to Buffett as an attractive company for Berkshire Hathaway to take over. Buffett bought the company for $9 billion, and Sokol came away with a $3 million profit on his shares. After his questionable investments came to light, Sokol abruptly resigned in March. Buffett initially defended...

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Billionaire investor Warren Buffett has long enjoyed a sterling reputation as the "honest oracle" of high finance. But even some former admirers are expressing disgust after suspicions of insider trading sank David Sokol, the man being groomed to succeed the 80-year-old Buffett at Berkshire Hathaway. Will investors sour on Buffett, too?

Shareholders will want answers: Berkshire Hathaway's annual meeting is usually a lovefest, says Andrew Ross Sorkin in The New York Times, but the 2011 gathering, coming up this month, will be more like an "inquisition." The bottom line is that Sokol bought a pile...

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Re-igniting debate over the effectiveness of the bailouts, billionaire investor Warren Buffett has issued a "thank-you note" to "Uncle Sam" for rescuing the financial system two years ago. In what's been called a "bizarre" New York Times op-ed, Buffett says the country "faced an economic meltdown" in 2008, with the mortgage industry on the verge of collapse and giant banks teetering near bankruptcy. Only the feds had the power to "restore calm," Buffett says, and, this time, they "delivered." Does Washington deserve Buffett's gratitude, and the nation's? (Watch Buffett defend his position)

No, the...

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It has been one of the biggest succession mysteries in corporate America: Who will eventually take over the investing duties of one of the world's most famous investors, Warren Buffett? Buffett, 80, may have answered that question this week by hiring Todd Anthony Combs, an obscure 39-year-old hedge fund manager in Connecticut. How certain is it that Combs will become the person who decides where Buffett's Berkshire Hathaway puts its money, and can he really fill the Oracle of Omaha's giant shoes? (Watch a Fox Business report about Buffett's hire)

Who is Todd Combs?
Combs manages the Greenwich,...

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Warren Buffett and Bill Gates, America's two wealthiest individuals, have convinced a growing number of U.S. billionaires to donate a minimum of 50 percent of their vast fortunes to charity. (Watch a report about the charitable acts.) The so-called "Giving Pledge" has been described as a "moral commitment," and carries no legal weight. Around 10 percent of America's billionaires have signed the pledge so far, but Buffett hopes to recruit more. "Every saint has a past, every sinner has a future," he told reporters. "We’ll keep on working." Just how much will the Giving Pledge benefit...

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In a private initiative that could "double or triple the amount of philanthropy in America," two of the world's richest men are employing what some call "peer pressure at its best" to persuade their fellow billionaires to give at least half their money to charity. Here's a quick guide to their push:

What is "The Giving Pledge"?
It's an idea that was hatched by Microsoft founder Bill Gates and Berkshire Hathaway founder Warren Buffett over lunch at an Omaha diner. Buffett has already annouced that he will donate 99 percent of his $47 billion fortune to charity, with the bulk designated for the Bill...

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The world's third richest man has long been an investment "rock star." Now he's one on TV. In a new ad for Geico, a subsidiary of his company Berkshire Hathaway, Warren Buffett sports an Axl-Rose-esque kilt and croons, "We're always true to you."  Buffett has taken on a "tricky" challenge, but the ad works, says Daniel Gross in Newsweek, demonstrating that, while he takes his "responsibility to shareholders very seriously, he doesn't take himself too seriously." Other commentators are less impressed by Buffett's attempts to rock more than financial markets: "While there are doubtless some...

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How To Build A Billion Dollar Business Plan

             
Every year, as an investor, I look at scores of business plans from eager entrepreneurs who seek funding for their emerging enterprises.  Most plans are not well written and I find only a few that are excellent.  I invite the founders with poorly conceived plans to improve their efforts and return when they are ready to present again.
At the end of a presentation, I take time to share with the entrepreneur what they need to do to develop an optimal business blue print.
For those high achievers who have thoughtfully prepared outstanding plans, with reliable assumptions, they often receive the funding they need for company growth.
I contacted my good friend, Thomas Harrison, chairman of Diversified Agency Services, an Omnicom division, to share his views with me on the key elements of a great business plan.  Over the years, he has seen numerous presentations from companies Omnicom has purchased that represent a vast number of firms within the Omnicom firmament of marketing organizations
“Mr. Harrison,” I asked, “What counsel would you give an aspiring business builder on the development of a great plan?”
“Alan,” he said, “I think some people get confused between a business plan and a marketing plan.  A business plan is a genetic, molecular definition of my business.  It crystallizes why I’m in business; it shouts what I do for the world, for consumers, for my customers. It dissects my business DNA and how it is unique and it clarifies why my customers should do business with me.”
“The “Plan” is the blueprint; it’s the architect’s renderings that show the skeleton of the business… the DNA of the business. The Plan allows me to be crystal clear about that skeleton and how it supports my vision of my value (the business value) to my customers.  It explains exactly why customers will buy what I make/sell and what it is about my product that will delight my customers.”
Ten Key Points:
What should be included in a well-conceived business plan?  Tom recommends the following:
1. Describe why your company is relevant. What is the need being addressed?
2. Explain the overall state of the market and any important trends.
3. Explain why customers will buy your product or service.
4. Describe, in detail, who your customers are.
5. Explain who your current competitors are and their advantages.
6. Explain which competitors you will displace
7. Describe your product offerings, how they compete with other brands and why they are needed.
8. Provide an overview of the various resources, including the people that will be needed to deliver what’s expected by the customer.
9. Describe corporate priorities and the processes to achieve them.
10. Included three thorough financial plans; one that’s conservative, one moderate and one optimistic, each with realistic and achievable sales revenues, margins, expenses and profits on a monthly, quarterly and annual basis.







The purpose of the plan is to allow you, and everyone involved in the business to know the building blocks of the business and its purpose for existing,” Tom continued. “The value of the plan is to think, visualize and memorialize the business DNA so that successors can work consistently with the original vision, character and purpose of the business through future generations.”
Mr. Harrison knows what he is talking about when it comes to superior planning. He oversees 170 global companies that generate billions of dollars in annual sales.
My Own Top Recommendations
When I see a fantastic business plan I note the following:
1. The plan is viewed by management as a living document.  It’s concise and accurate.  It is considered by everyone daily.  It’s a constant guide to high performance and corporate success.
2. The leaders have defined very precisely who their customers are, by the numbers, with specific measurable demographics.  They know everything about their buyers including what they watch, read, and hear.  They know these targets better than their own family.
3. They know what customers need, what they want to buy, when and where.  They know what people will pay for their products or services. They know why people need to buy; the emotional components as well as the utilitarian purposes.
4. They have listened and heard what’s on the minds and in the hearts of potential and existing clients.  They are able to forecast what people might purchase in the future even before the customer knows he will need it.
5. These leaders know the industry like the back of their hands. They know everything about the competition and what they are doing. They have excellent relationships with trade association members and channel partners.
6. They understand industry trends and are forward thinking.
7. They have conceived, developed and manufactured exactly what the customer needs. They have built products with features and benefits that differentiate themselves from competing product offerings.
8. They have set specific priorities with key objectives they will achieve via the correct resources.
9. They have developed sound, repeatable and time tested processes that yield high efficiency and productivity.
10. They have all the right people on the bus, with measurable tasks and rewards.  Everyone has participated in developing their individual plans that are aligned to achieve their goals and the overall objectives of the organization.
11. Their financial plan is defensible and accurate. They have backup plans in the event of unseen consequences.
12. Leaders meet regularly to evaluate their progress and the progress of each organization within the business. They report to all employees, often.
13. Management has developed a powerful culture based on teamwork, innovation, client and employee satisfaction, integrity, results and hard work.
As a summary, a great plan is developed by people with deep knowledge and experience. They possess a strategic mindset. They have a clear vision of where they want to be and how to reach their destination. And, most importantly, they achieve desired results based upon a clear road map. Perhaps these insights can be of value as you consider your own business plan. If you are developing a plan for your first business, you should engage the help of people who met the criteria I have described. It will be well worth the additional effort.

http://www.forbes.com/sites/alanhall/2012/08/26/how-to-build-a-billion-dollar-business-plan-10-top-points-2/
Cheryl Conner Contributor

Alan Hall, Contributor

Speaker, author, investor and catalyst for entrepreneurial growth.

   

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Small Business Tax Breaks

 

Tax breaks for small businesses

By Kay Bell •

Are you looking for a new business partner? Consider Uncle Sam. The federal government offers a wide variety of tax breaks that could help your business not only survive, but thrive.

Some of the business tax breaks have been around for years. Others are new. More were added or enhanced under the Small Business Jobs Act that became law in the fall of 2010.
The government's definition of a small business is one with sales of $7 million to $25 million a year and up to 1,000 employees. But Eva Rosenberg, a California Enrolled Agent and the publisher of TaxMama.com, says there are plenty of tax breaks that benefit much smaller operations.

Write off more expenses

Take Section 179, a deduction option named for the part of the tax code in which it appears. Under this provision, you can claim certain business expenses in the year in which they were made rather than depreciating the costs over several tax years.
The Small Business Jobs Act of 2010 allows for up to $500,000 in business expenses to be written off under Section 179 for both 2010 and 2011. That increased amount, double the previous limit, is so large that the average small business can write off all their asset and equipment purchases the year they buy them, says Rosenberg.
As for expenses you depreciate, the small-business bill offers help here, too. The 50 percent bonus depreciation provision also was extended, says Barbara Weltman, tax and business attorney and author of "J.K. Lasser's Small Business Taxes 2011."
As the name indicates, it's a bonus tax break that applies after you've used your maximum Sec. 179 expenses. After you take the full $500,000 expending claim, you're allowed to deduct an additional 50 percent of the adjusted basis of certain depreciable business property purchased and placed in service during 2010.
And if your business is new, there's a tax break specifically for you. "The one-shot write-off of startup costs doubled to $10,000," says Rosenberg.

Save on health care costs

Self-employed individuals are familiar with the ability to deduct the full cost of health insurance premiums to help cut their taxable income. For 2010, that health coverage cost also can help reduce self-employment taxes.
The health care costs still go on Form 1040, where they are subtracted from gross income to get a lower, adjusted gross income amount upon which taxes are calculated. But now those medical insurance costs also are subtracted from self-employment income on Schedule SE, the form self-employed taxpayers use to calculate Federal Insurance Contributions Act, or FICA, taxes that go toward Social Security and Medicare.

Since the self-employment tax is 15.3 percent -- 12.4 percent for Social Security on earnings up to $106,800 and 2.9 percent on all income for Medicare -- you'll essentially get a 15 percent savings on the premiums, says Weltman.


http://www.bankrate.com/finance/taxes/tax-breaks-for-small-businesses-1.aspx