BUSINESS TIPS WITH SFF: 1. Start today your plan to select 15 sales representative for your own business. (YOU DONT NEED NECESSARILY TO MAKE THEM PART OF SFF INCOME PLAN BUT YOU CAN DO IT AS ADDITIONAL INCENTIVE WHEN YOU ARE HAPPY WITH THEIR PREFORMANCES!) Train them well so they can rapidly sell products and have immediate income and generate profit for you. They need to consumme products so they can feel the benefits. If you have some capital to invest in their trainings and support for the initial start up it would be the best of course. If not, make another plan where the lack of fund is integrated and where you plan to generate first funds (by direct selling by example or thorugh family or bank loan) until you accumulate enough money to recruit your staff and push forward your business. 2. Be very clear with the sales target you expect from them. If they cannot produce enough you cannot keep them in your staff. 3. Develop your skills in management and leadership to bring your business to higher level. 4. Watch out your sales figures and your incomes aswell your expenses. Know by all time where you are in relation with your targets. 5. Keep a fair relation with your sale team but be very clear on the results expected. Be helpfull but also attentive. 6. Know well your products and practise the fundamentals of business.. 7. Consult and select an accountant to make sure you are working legally. BUSINESS FUNDAMENTALS 1. “The purpose of a business is to create and keep a customer” 2. Whatever you sell your customer—a product or service—make it high quality and be reliable 3. First, take care of the customers you have, with the products and services that made you successful. Then look for more things you can do for those same customers, within what you are good at doing. 4. Charge a fair price—neither too high, nor too low. The former will cost you sales; the latter will cost you your business. 5. Always consider what is most important to your customers Usually it’s to get what they expected in quality, service, on time, and at a fair price—with an occasional new idea thrown in. Measure every decision on how it will affect those deliverables. 6. Know your costs, and charge enough to cover them and make a profit If you don’t, you won’t be in business long. And if you don’t watch out for this, who will? If your costs are not competitive enough to do this, figure out why and do something about it. 7. Manage your cash flow very carefully Running out of cash kills more small businesses than anything else. Learn to make a cash flow projection worksheet and use it. 8. Stay focused on doing what made you successful and keep your eye on competitors Common mistakes are expanding into new areas too rapidly: taking the wrong kind of business—just because you can sell something to someone, doesn’t mean you should—or compromising on quality, service and reliability. John Mariotti. 9. Hire the right people That means people with the skills, experience and attitude (a very important, often overlooked point) you want. Train them well and communicate your expectations and what they are responsible for doing, and getting done (accountable for). When you realize you have hired someone “wrong,” do not delay in dealing with it. There are few things that can poison an organization faster than having one “bad apple” in the bunch. Firing someone is hard; not firing someone who should be fired, is worse. Give them fair warning, time to improve (and tell them what needs improving) and if they are not making it, do the right thing and cut them loose. You’ll be doing them a favor too. Note: If you happen to hire someone with a bad attitude, it’s even more urgent to deal with that mistake and get them out of the business. A bad attitude can be contagious. In closing, you may have heard that “the customer is always right.” That’s wrong. “The customer may not always be right, but the customer is still always the customer.” Without customers, you have no business, so take care of them. But don’t be afraid to make a profit. Business is a competitive game where the score is kept in money. If you win, you get to play again. If you lose—“game’s over!” And those rules never change.
Posted on: Thu, 06 Mar 2014 06:49:44 +0000
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