Tips from the Top®: Business Advice From Business Owners
TEDx Coming to Long Island – February 5th
TEDx is a program of local events that bring people together to share a TED-like experience. At a TEDx event, TED speakers combine to spark deep discussion and connection.
TEDxMelville will take place on February 5th at the RXR Executive Park, Melville, with the theme “Disruption: Create of Adapt.” They have arranged world-class speakers who will discuss their ideas about how to leverage the rapid change in which we all exist both professionally and personally.
Bill Paolillo, President & Owner of TAB Suffolk, will speak about how companies who best-recognize their customers and employees are being rewarded with online postings and reviews containing the word love.
There are only 100 tickets which are available through a lottery. If you are chosen to attend the ticket price is $99 plus fees for the daylong event. Visit TEDxMelville.org to learn more.Read more
Good News for New York Business Owners – Paperwork Reduction
Governor Cuomo recently signed into law amendments to the Wage Theft Prevention Act (WTPA) that eliminate the requirement that New York employers provide pay notices to their employees each January. In signing the WTPA amendments, the governor issued a signing statement that the amendments will go into effect immediately. This means employers will not have to issue the annual pay notices to their workforce this month, although employers are still required to provide such notices at the time of hire and whenever there is a change to an employee's rate of pay. >>Click here to visit the New York State Department of Labor website.Read more
Understanding Sales Incentives
Incentives are an important part of our sales compensation. They are somewhat complex, since we pay commissions on each sale, profit margins and financing parameters. Faced with employees who claimed they "couldn’t understand" their compensation, I shifted the burden to them…Read more
Expanding Your Sales Channels
Many of us think that to grow our sales team we need to hire direct sales people. You can grow your sales team by adding channels…Read more
Following the Trail
I spend a lot of time honing our sales process and I’ve learned that sometimes a lead is not going to generate a sale; it’s going to lead me to the decision maker who will. My sales team knows how to refine leads to make sure they're cultivating the right person in a potential client company.
Hunters versus Farmers
Organizing your salesforce by position makes a great deal of sense. Typically outside sales is handled by a "hunter" who stalks big game and makes the cold calls and initial sales. Inside sales are handled by the "farmers" of the world and their main focus is maintaining or servicing a customer, as well as growing the relationship. Each position requires a different set of behaviors to be successful, and therefore behavioral profiles are useful in the recruiting and hiring process.
Don’t Let Technology Trip Them Up
Don’t let your salespeople get too dependent on technology. We recently had an experienced salesperson call to present a major business service. Her presentation was built around graphics and demos on her laptop, which suffered a hard drive failure just as she started. She went completely on "TILT," unable to discuss what we had assembled our executives to see, and without a backup plan. After stammering for a while about how this had never happened and she didn’t know what to do, she excused herself and made another appointment. Remember, first impressions count, and your prospect’s time is important.
Are Your Salespeople Respectful?
I find that the majority of salespeople who cold call my businesses, either by phone or in person, have an arrogance about them that turns me right off. It doesn’t matter how busy I am, they expect me to drop everything because they have the answer to all my problems. When you come in or call, ask me if I have a minute to listen to what you have to say. If I tell you I am really busy, don’t argue with me. Ask if you can email or fax the information, so that I can read it on my time. Ask if you can check back later or leave a contact number. If you sell to other business owners, make sure your salespeople respect their time.