Are You Using These Traits of Successful Entrepreneurs?

by Deborah A. Bailey www.dbaileycoach.com

There are a lot of people who are starting businesses these days, and often they’re coming from the corporate environment. It may seem much more desirable to be your own boss after experiencing a job loss, but it takes more than a business plan to have success. You also have to consider the transition you’re making from a regular paycheck to having an income that may have its ups and downs.

If you’re going into entrepreneurship and still holding on to the belief that it’s the same as being employed (except without benefits and job “security”) – you will find yourself in a very limiting position. Having your own business will force you to develop certain traits that will help you transition from employee to CEO. Read the rest of this entry »

Network For Career Success – How to Maintain Your Contact List

I am going to share with you some suggestions on how to maintain and grow your network list when you start forming your network contacts.

Plan your meeting with someone you like whether it is for business or personal. In the meeting you ask what you can do for him or her. So you are building relationships before you need them. The good practice is that you always take the initiative to start new relationships.

There are many opportunities for networking when you get involved with professional organizations. Think about the reasons to join them and the possibilities and best choices for your networking. When you decide to join, also get involved in a leadership position or a committee if possible. Another good option is to join some local clubs even just for fun and your interests. You can meet many potential people who can help you and whom you can help in each of these communities. Furthermore, being a volunteer is also a good way to grow your network, such as getting active in a few organizations. Read the rest of this entry »

Diverse or Adverse?

Is your organization reaping the rewards of a diverse workforce or are your efforts to promote diversity impotent or, worse, counterproductive?

Guest Post by R.S. Basi

The surest way to relegate your organization or your career to mediocrity is to pursue goals without truly understanding either the goal or your means to achieve them.  This is particularly true of diversity efforts, which have the power to create unintended consequences, like alienation, by focusing on differences rather than commonalities.

Last year, a peer was hired by a Fortune 500 Company with a robust diversity recruitment program.  She was impressed by the numerous awards and accolades the company had earned but, soon after being hired, learned that new employees were so indoctrinated with rigid parameters that the ability to be different was stifled beyond rescue.  Diversity of thought was mildly encouraged, but only within the parameters of the “Company Way.”  As a Human Resources professional, she found the irony of the situation maddening and, without the ability to pierce the bureaucracy, left and found a better fit with a smaller company that allowed her greater freedom to promote diversity and change. Read the rest of this entry »

Don’t be a victim. Bad Biz is your fault. Stop Making Excuses for Your Sales Woes.

How many times have you heard a person say, “it wasn’t my fault” or “I can’t believe someone did this to me” to news of down or lost sales?   News flash: everything is your fault (or phrased differently-your responsibility to own).  If we truly take responsibility for ourselves and as a leader to our sales teams, everything is our fault, because ultimately we are the only things we can control.

A great leader can never be a victim and just as important a great leader cannot allow people on their team to be victims.  We have all heard the phrase  “crap happens” (or a variation of it), but how we respond to it (crap) determines whether or not a person is a victim.  The same goes for your business, the economy is not causing your business to struggle; rather, how your business is responding to the economy is causing it to struggle.

For those looking for motivation, there are many sayings or famous quotes talking about taking control and not being a victim, for instance, Winston Churchill quipped a favorite, “A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.” However, it takes a lot more than reciting famous quotes and great ideas to be a successful and victorious sales leader.  It takes a true commitment, time, strong coaching, a willingness to learn and to take calculated risks and most importantly a refusal to be a victim blaming “the economy.” Despite the economy you can motivate your sales team by taking responsibility and placing the correct emphasis on logical sales goals and market share.

There is no room for a realist in sales

Sales people don’t need to be realists; they need to be a blind optimist, it is finance’s job to be realists.  The finance department needs to be realistic in setting budgets and expenses based on current trends and forecasts to ensure the financial safety of the company.  On the other hand the sales people need to only think of how they will achieve their sales regardless of the situation.  When a sales person says “I am not a pessimist, I am realist”, I know one of two things are true:  1) whatever goal or obstacle is causing them to make this statement will stop them from being successful, because they have already accepted it, 2) maybe they accidentally came to the sales team from finance, and perhaps they need to go back to finance.  This is not a punt on finance by any means; rather it is an understanding that each role and responsibility has its place for a team to be successful.   In sales there is no room for realistic goals and realists.  This does not mean that a goal should be a pipe dream, it does mean a goal or result should be logical.  The difference between logical and realistic is that realistic has limitations based on someone’s experiences and fears and logical deals only with the action and the allotted amount of time.

The question every sales team should answer when they are faced with an obstacle is “what can we do, that does not require any other departments or things we cannot control, to overcome this obstacle, then do it and do it again?”  If your life depended on it, could it be done?  Great salespeople are visionaries who live a dream and find a way to make things happen.

Market share versus industry status

There are a lot of companies in today’s economy blaming the economy and the their industry down turn for their results.  This year it is the economy effecting sales, 3 years ago it was the competition cutting the prices of their product or service and before that it was the competition had a competitive advantage with something they didn’t have or the customer had no need.  The economy is just another reason  (excuse) why our sales are not where they need to be.  This is not to say that the economy or budget restraints are not a real issue, but they are, and will always be an issue.  The goal is the same, to increase sales, but the obstacles have changed.  That does not mean there are more obstacles, just different reasons for not closing sales.

Unless a company has over 50% market share, the amount of market share will effects a company’s bottom line more than the industry’s down turn.   The solution is to understand how the game has changed and change your game plan to make sure victory is the only solution.  For most businesses the solution is to increase market share and that can be done by adding a new market segment or by taking customers from the competition.   This requires a different skill set than getting current customers to buy more or account management.  This skill set is not new, but it may be a skill that many veteran sales reps or top sales reps have not used in a long time.

The sales leader’s job is to help get the top reps past their egos and back into skill development and training of getting new clients.   Watch for the fatal sales team mistake:  when a sales leader relies on their top sales people to know what to do because they have been doing it for xx years or because they have always been on top. They will find themselves waiting for the market to change (and perhaps end up closing down completely while they wait), because they don’t change their sales people.  To win in sales is to take control of your top sales reps and veteran reps and develop a sales plan and practice.

Victims blame others and situations for where they are in life or their performance and results.  Victors and great leaders know that they cannot control every situation; rather they can control their response.  We can prepare our best and change when our best is no longer working.   Success and failure, both, are just a result of what a person or team does, and not a permanent state unless you chose it.   The economy and belief between your ears will affect your success more than any stock market, government or competition.

ABOUT THE AUTHOR

Nathan Jamail, president of the Jamail Development Group and author of “The Sales Leaders Playbook,” is a motivational speaker, entrepreneur and corporate coach. As a former Executive Director for Sprint, and business owner of several small businesses, Nathan travels the country helping individuals and organizations achieve maximum success. His clients include US Army Reserves, Nationwide Insurance, Metro PCS, State Farm Insurance, Century 21, Jackson National Insurance Company and ThyssenKrupp Elevators. To book Nathan, visit www.NathanJamail.com or contact 972-377-0030.

Follow the Money

Guest Post by Jay Arthur

Every top cop show on television has one cardinal rule for solving the crime: Follow the Money. The same is true in business. In business, crimes are committed every day that siphon cash from cash flow, threaten profitability and cause customer dissatisfaction. These aren’t crimes of passion or greed, but crimes of neglect. These aren’t criminal acts of employees, but crimes of performance. The best way to solve these “crimes” is to follow the money.

The Crime Against Cash Flow

Every day, businesses lose cash to crimes of all sorts. Most companies suffer from a plethora of performance problems, such as:
• Credits to customers for mistakes and errors in the product or service
• Adjustments for mistakes and errors and delays
• Warrantee costs and returns
• Excessive inventory costs (raw and finished goods)
• Rework of products and services to meet specifications and expectations
• Costs of scrap materials and products

In a typical, profitable company, these crimes can cost a business a third of total revenues. Truth be told, most companies are robbing themselves of huge profits because their systems and processes let these crimes take place. Some are misdemeanors and some are felonies, but together they can rob a company blind. Read the rest of this entry »