Answer Upon - Business

Fundemental Success In Teleselling
Outbound and inbound teleselling has to be the most difficult form of sales there is. Everything that can make a sales person great in person, rarely works on the phone. For example, a "normal" sales presentation involves visual contact, which encompasses body language, facial expressions and other non verbal cues. There is also no time limit to a normal sales presentation allow the customer and sales person to work free of heavy time pressure whereas many telesales roles have an ACD (Average call duration) between 3 and 10 minutes on average.So how can you succeed in telesales without going crazy? Firstly there are a few factors that many telesales people don't think about. Time management, we’ve already stated that telesales is quite tightly timebounded, but because c

Honesty Works Best - But, It's Not About Morality
Last week, I received three calls from people, all appreciative that I support the values of 'our religion'. One was a Born-Again Baptist, another was Mormon, and the third was Jewish. My response to each of them was the same: I don't follow their religion.It's true that being scrupulously honest, direct, and authentic in business dealings is an essential component of High Probability Selling. It's also true that this has nothing to do with religion, and everything to do with utlizing a selling process that produces dramatic, positive results.When I set out to determine how the top 1% of salespeople actually sell, I didn't start out looking for a totally honest selling system. My sole intention in studying Top Performers was to ascertain what sets them apart. The most

We all know what profit is: the surplus left over from revenue after covering expenses. Profitability is the measure of profit generated on an ongoing basis. Profit is generally measured in dollar terms; profitability is measured as a percentage of sales. You need to focus on both. For many small businesses, profit equals the owner’s paycheck. If your profitability from operations doesn’t generate enough cash flow, you don’t get paid. The first step is to figure out how much you need to pay yourself—to cover your basic needs and desired lifestyle, savings and retirement, and to pay your taxes. Then, figure out how much money your business needs to bring in to cover its expenses and pay you this amount. This is an eye-opening experience for business owners. Your initial reaction may be dismay: “How can I ever bring in that much revenue? Am I doomed to just scrape by?” But, given your financial goals, you can begin looking seriously at how to restructure your business to give you what you need financially—or else get out of it and go on to something else. Profit is more than your pay Even if you are a sole proprietor, learn to view “profit” as separate from what you pay yourself. Pretend that your company is a corporation, where you earn a regular salary, and that makes a profit beyond that. You get paid to work there, and as owner, you expect a profit dividend. Profit is more than money Here’s how small businesses should look at profitability:

• Profit is ROI—return on investment. You (and perhaps others) put capital into your business and you expect to get it back someday with a suitable rate of return. For an established yet vulnerable small business, a suitable ROI can be from 20% to 30% per annum.
• Profit is ROE—return on effort. Many people start their businesses largely with sweat equity, putting in thousands of hours of their own time—unpaid—to get the business up and running. Can you ever recoup the value of your time?
A business run by the owner should look at profit as the financial return per unit of your effort. For example, suppose you work 2,000 hours in a year, and your company’s profit is $250,000. For that year, you could say that you had a return of $125 for each hour you put in. If you want to operate with greater ease, make sure you don’t increase profit by dint of harder work and longer hours. More on this in chapter 11 of my book “How to Grow Your Business without Driving Yourself Crazy” in the section on “Leverage Your Effort.”
• Profit is a tuning fork. It tells you how well tuned your business instrument is. When you are doing things right—working productively and cost-effectively, selling the right things to the right people, serving your customers well, treating your own people well—profit is the measure that amply demonstrates that.
The opposite is also true. When your business is not tuned properly, it sounds the discordant notes of low productivity, unhappy employees, dwindling customer base, and mounting losses. Profit is acknowledgement that the business is tuned properly.
• Profit is flow. Profit provides the surplus that helps you weather the lean times. Profit allows you to be generous.
• Profit is energy. Many small business owners say they are more interested in achieving their vision than in making a big profit. But without adequate profitability, you get worn down, burnt-out and discouraged.
An unprofitable business fails unless outside money is continually pumped in. You cannot make the contribution you want without bringing in a good profit.

The uses of profit

As your attitude toward profit shifts from (a) what’s left over that you use to pay yourself, to (b) a resource you use for critical business needs, you can plan your operations so that they regularly generate profit beyond what you pay yourself. You can create a “profit budget” to calculate how much you need to cover such items as:

• Fund for expansions or upgrades. How much do you need to set aside each year for anticipated upgrades and expansion?
• Cushion to cover downturns. How much should you set aside each month to provide an insurance policy against short-term financial reverses?
• Fund for bonuses and financial incentives and profit sharing. What proportion of sales revenue should you allocate to incentives and bonuses in order to motivate top performance?
• Retirement programs. What proportion of salaries and wages should you set aside to fund retirement plans for you and your employees?
• Paying taxes. How much must you set aside each month to pay taxes on the profit you anticipate?
• Debt repayment. How much cash flow must be available after taxes to pay down your debt—including repayment of money you have put into the company?
Calculate all these amounts that pertain to you and add them up. This is the amount of profit from operations you need each year. If you divide this sum by your projected revenu

Do You Have What it Takes to Start Your Own Business
Having the idea to start your own business is more than most people have, so you are already one step ahead of those people. When you are considering a small business start up then your mind is probably filled with questions about your business ideas, start up costs, and start up funding. Still the biggest concern at this point is whether or not you have what it takes to successfully start and run your own business.There are a keys that will actually help you determine whether or not you are cut out for such a hands on job. A key ingredient for small business success if truly having a passion for your business niche. It is a fact that you are able to learn more about business fundamentals and acquire a more in depth knowledge about the field of choice if you have a passion

u need financially—or else get out of it and go on to something else. Profit is more than your pay Even if you are a sole proprietor, learn to view “profit” as separate from what you pay yourself. Pretend that your company is a corporation, where you earn a regular salary, and that makes a profit beyond that. You get paid to work there, and as owner, you expect a profit dividend. Profit is more than money Here’s how small businesses should look at profitability:

• Profit is ROI—return on investment. You (and perhaps others) put capital into your business and you expect to get it back someday with a suitable rate of return. For an established yet vulnerable small business, a suitable ROI can be from 20% to 30% per annum.
• Profit is ROE—return on effort. Many people start their businesses largely with sweat equity, putting in thousands of hours of their own time—unpaid—to get the business up and running. Can you ever recoup the value of your time?
A business run by the owner should look at profit as the financial return per unit of your effort. For example, suppose you work 2,000 hours in a year, and your company’s profit is $250,000. For that year, you could say that you had a return of $125 for each hour you put in. If you want to operate with greater ease, make sure you don’t increase profit by dint of harder work and longer hours. More on this in chapter 11 of my book “How to Grow Your Business without Driving Yourself Crazy” in the section on “Leverage Your Effort.”
• Profit is a tuning fork. It tells you how well tuned your business instrument is. When you are doing things right—working productively and cost-effectively, selling the right things to the right people, serving your customers well, treating your own people well—profit is the measure that amply demonstrates that.
The opposite is also true. When your business is not tuned properly, it sounds the discordant notes of low productivity, unhappy employees, dwindling customer base, and mounting losses. Profit is acknowledgement that the business is tuned properly.
• Profit is flow. Profit provides the surplus that helps you weather the lean times. Profit allows you to be generous.
• Profit is energy. Many small business owners say they are more interested in achieving their vision than in making a big profit. But without adequate profitability, you get worn down, burnt-out and discouraged.
An unprofitable business fails unless outside money is continually pumped in. You cannot make the contribution you want without bringing in a good profit.

The uses of profit

As your attitude toward profit shifts from (a) what’s left over that you use to pay yourself, to (b) a resource you use for critical business needs, you can plan your operations so that they regularly generate profit beyond what you pay yourself. You can create a “profit budget” to calculate how much you need to cover such items as:

• Fund for expansions or upgrades. How much do you need to set aside each year for anticipated upgrades and expansion?
• Cushion to cover downturns. How much should you set aside each month to provide an insurance policy against short-term financial reverses?
• Fund for bonuses and financial incentives and profit sharing. What proportion of sales revenue should you allocate to incentives and bonuses in order to motivate top performance?
• Retirement programs. What proportion of salaries and wages should you set aside to fund retirement plans for you and your employees?
• Paying taxes. How much must you set aside each month to pay taxes on the profit you anticipate?
• Debt repayment. How much cash flow must be available after taxes to pay down your debt—including repayment of money you have put into the company?
Calculate all these amounts that pertain to you and add them up. This is the amount of profit from operations you need each year. If you divide this sum by your projected reven

How Dwelling on Problems Can Increase Your ROI
Everyone goes through an CLCE (crappy life-changing event) from time to time. Usually, CLCEs occur in palatable bite-sized chunks. Sometimes they cluster, like tiny metastatic tumors.This month presented an intricate clusterlike formation for me. I had to move to Oakland at short notice, my dog nearly got me evicted from my new place, and I've been getting parking tickets daily because I don't have a neighborhood permit.But this article is not about my problems. Rather, it's to demonstrate how CLCEs shape our decisions, and how you can use them to craft better copy.You see, dwelling on problems is the secret to marketing greatness.The Myth of Positive Thinking Remember the last time you described a personal problem to a friend, and they immed

the owner should look at profit as the financial return per unit of your effort. For example, suppose you work 2,000 hours in a year, and your company’s profit is $250,000. For that year, you could say that you had a return of $125 for each hour you put in. If you want to operate with greater ease, make sure you don’t increase profit by dint of harder work and longer hours. More on this in chapter 11 of my book “How to Grow Your Business without Driving Yourself Crazy” in the section on “Leverage Your Effort.”
• Profit is a tuning fork. It tells you how well tuned your business instrument is. When you are doing things right—working productively and cost-effectively, selling the right things to the right people, serving your customers well, treating your own people well—profit is the measure that amply demonstrates that.
The opposite is also true. When your business is not tuned properly, it sounds the discordant notes of low productivity, unhappy employees, dwindling customer base, and mounting losses. Profit is acknowledgement that the business is tuned properly.
• Profit is flow. Profit provides the surplus that helps you weather the lean times. Profit allows you to be generous.
• Profit is energy. Many small business owners say they are more interested in achieving their vision than in making a big profit. But without adequate profitability, you get worn down, burnt-out and discouraged.
An unprofitable business fails unless outside money is continually pumped in. You cannot make the contribution you want without bringing in a good profit.

The uses of profit

As your attitude toward profit shifts from (a) what’s left over that you use to pay yourself, to (b) a resource you use for critical business needs, you can plan your operations so that they regularly generate profit beyond what you pay yourself. You can create a “profit budget” to calculate how much you need to cover such items as:

• Fund for expansions or upgrades. How much do you need to set aside each year for anticipated upgrades and expansion?
• Cushion to cover downturns. How much should you set aside each month to provide an insurance policy against short-term financial reverses?
• Fund for bonuses and financial incentives and profit sharing. What proportion of sales revenue should you allocate to incentives and bonuses in order to motivate top performance?
• Retirement programs. What proportion of salaries and wages should you set aside to fund retirement plans for you and your employees?
• Paying taxes. How much must you set aside each month to pay taxes on the profit you anticipate?
• Debt repayment. How much cash flow must be available after taxes to pay down your debt—including repayment of money you have put into the company?
Calculate all these amounts that pertain to you and add them up. This is the amount of profit from operations you need each year. If you divide this sum by your projected reven

What Questions Should I Ask During an Interview?
What are good questions to ask during an interview is a good question in itself, and one that always comes up when a conscientious person is preparing for a big job interview. The fact that a person even wonders that sets them apart from the crowd of applicants and means that he or she is a proactive individual, intent on making a good impression and proper presentation of skills and experience.The best question to ask, according to many human resource management professionals, is “what can I do to benefit the company?” This question shows a good, positive attitude and will lead the HR manager to think of you as a go getter and team player and the type of individual the company needs.The worst question to ask would be anything that makes you, as an applicant, appear

ase, and mounting losses. Profit is acknowledgement that the business is tuned properly.
• Profit is flow. Profit provides the surplus that helps you weather the lean times. Profit allows you to be generous.
• Profit is energy. Many small business owners say they are more interested in achieving their vision than in making a big profit. But without adequate profitability, you get worn down, burnt-out and discouraged.
An unprofitable business fails unless outside money is continually pumped in. You cannot make the contribution you want without bringing in a good profit.

The uses of profit

As your attitude toward profit shifts from (a) what’s left over that you use to pay yourself, to (b) a resource you use for critical business needs, you can plan your operations so that they regularly generate profit beyond what you pay yourself. You can create a “profit budget” to calculate how much you need to cover such items as:

• Fund for expansions or upgrades. How much do you need to set aside each year for anticipated upgrades and expansion?
• Cushion to cover downturns. How much should you set aside each month to provide an insurance policy against short-term financial reverses?
• Fund for bonuses and financial incentives and profit sharing. What proportion of sales revenue should you allocate to incentives and bonuses in order to motivate top performance?
• Retirement programs. What proportion of salaries and wages should you set aside to fund retirement plans for you and your employees?
• Paying taxes. How much must you set aside each month to pay taxes on the profit you anticipate?
• Debt repayment. How much cash flow must be available after taxes to pay down your debt—including repayment of money you have put into the company?
Calculate all these amounts that pertain to you and add them up. This is the amount of profit from operations you need each year. If you divide this sum by your projected reven

Business Electricity Customers Penalised For Being Loyal
Gone are the days when loyal customers were valued and given extra bonuses for their loyalty. The retreat from this practice began when companies operating in consumer markets and eager to attract new customers believed that offering reduced rates to new customers alone would boost their quest for market share.The biggest culprits were banks, insurance companies, telecoms and essential utilities. They all offered exceptional introductory rates in the hope that customers, usually tied in with direct debit accounts, and would fail to notice the increases when it came to renewal. And here we had the inception of a new market model which is now today’s norm.The more loyal you became the more you pay.But for those who dared to question the renewal rates or God forbi

pgrades. How much do you need to set aside each year for anticipated upgrades and expansion?
• Cushion to cover downturns. How much should you set aside each month to provide an insurance policy against short-term financial reverses?
• Fund for bonuses and financial incentives and profit sharing. What proportion of sales revenue should you allocate to incentives and bonuses in order to motivate top performance?
• Retirement programs. What proportion of salaries and wages should you set aside to fund retirement plans for you and your employees?
• Paying taxes. How much must you set aside each month to pay taxes on the profit you anticipate?
• Debt repayment. How much cash flow must be available after taxes to pay down your debt—including repayment of money you have put into the company?
Calculate all these amounts that pertain to you and add them up. This is the amount of profit from operations you need each year. If you divide this sum by your projected revenue, you get a percentage that shows what proportion of each dollar of sales revenue should be available for these uses. One of the most important uses for this percentage is to set prices that assure the desired level of profitability. Your accountant may gnash his or her teeth over the above paragraph, correctly pointing out that many of these items are business expenses, not profit. I agree. However, for small business owners who are trying to make a transition from a cover-the-costs mentality to a generate-surplus mentality, developing this profit budget is invaluable. These are the very items that they otherwise fail to account for in their planning, their projections and their pricing decisions.

Need help?
Several of our books, workshops, and e-tools help you boost your profitability—and to figure out how much profit you need. These include:
• How to Grow Your Business without Driving Yourself Crazy, esp. Chapter 13, “Build a Culture of Profitability” and Chapter 15, “Calculate the Benefit and Cost.”
• “Build a Culture of Profitability” available as e-book and tel-online workshop.
• “Sources and Uses of Cash” template. A crucial tool in projecting cash flow.
• “Success in 2007” plan workshop helps you put profit in the context of all other facets of your business.

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There are a number of options that businesses can choose from to set up a call center. For companies that have the resources, they can set up the necessary infrastructure for call center operations. On the other hand, smaller businesses can also use recent developments in technology such as VoIP, to help them set up a 'mini' call center.

Have you ever asked yourself, now how did I let that guy sell me on something that I had no real need for at the time? Do you ever get a sneaking suspicion that your probably not going to really use whatever it is that your buying in the way that it was presented? If this is true which is often the case, then why in the heck do we give up our hard earned money for something that until we heard some sales spiel, we really had no need or want to have.

Selling using the phone is different from the face to face sale in two distinct ways namely the seller as a much shorter time to get their initial pitch across to the prospect and you only have one means of communication to deliver your message, your voice. These factors should be given serious consideration when selling over the phone.

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