June 30th, 2009
There is far more to successful cold calling than meets the eye. Whilst some of the following points may seem self-evident, many of them are often missed or not afforded the attention they deserve. Don’t forget, a cold call could be the one opportunity to start a relationship with a business who may become your biggest customer.
Sales training has an important part to play and should be carried out as often as possible. This includes not only courses but also regular meetings between members of the sales team to discuss their work. This might include tactics that seem particularly effective, or what objections seem to be coming up most often and how these can be dealt with.
One of the keys to successful cold calling is an open and positive mental attitude. The best sales people take a moment before making a call to visualise how the call is going to go. Based on previous experience, they will think about the most likely objections and how they will overcome them. They do not take negativity from being knocked back. They will take a moment for a brief reflection on whether they have learnt anything from the call, and move on to the next one.
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June 29th, 2009
Much is written and said about management training, but it is worth making sure that everyone understands the same things when they hear those two words.
Management training, in its broadest sense, refers to anything that helps a manager to work more effectively. This is particularly important nowadays as there is greater scrutiny than ever before of every organisation’s effectiveness and ability to deliver on time and within budget.
A large part of the management training, inevitably, is in soft skills. A manager needs to be charismatic and show leadership qualities. They should inspire loyalty and people should enjoy working for them.
A good manager must be skilled at team building. They need to understand the different qualities that the various people who report to them bring to the table and utilise those skills effectively. They should also be looking to the personal development of their staff.
Delegation is key. A good leader knows how to get people to accept responsibility. They also understand the importance of empowering those people so that they can act on their responsibilities.
The training can take the form of lectures or be interactive, desk based. It may also contain an element of involvement for the delegates, such as role plays.
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June 29th, 2009
Much is said and written about soft skills training. In common with many subjects, it can become unnecessarily overcomplicated. Let us look at some of the basics of communications skills. Remember, it is always worthwhile reviewing your behaviour as bad habits can creep in very quickly and become the norm.
Communication consists of written, verbal and, most crucially, non-verbal. In fact most trainers will tell you that the non-verbal communication is the most important and potentially powerful part. Let us look at some of those things that make up non-verbal communication.
Good eye contact is essential. It establishes credibility, sincerity and a connection.
Active listening is also important. This is done by acknowledging what someone is saying to you. An example of this is a simple nod of the head. You should also repeat back the key points that have been made to you to show you are listening and understanding.
The key is body language. Many people in public life have realised the importance of this and go on training courses to ensure they give out the non-verbal cues they wish to.
The tone of someone’s voice arguably communicates more than the actual words they use. Use a warm, enthusiastic tone and make sure that you vary the tone of your voice to highlight salient points.
You should also work on your gestures and facial expressions.
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June 28th, 2009
Even in relatively prosperous times, many businesses struggle to meet the pay demands of their staff. It is not that they are unwilling to see hard work properly rewarded. It is just that margins are often so tight that they feel they do not have room to manoeuvre. Add to this the pressure caused by the constant increases in transport costs, power and other overheads, and it seems the only choice is to squeeze salary costs.
Nobody wants their staff to feel undervalued. It is important therefore to look at other ways to increase employees’ overall packages.
Look at increasing annual leave particularly for those employees who have been with you longest. The thought of losing the extra week’s holiday they have built up will often dissuade long serving staff from leaving for higher paid jobs.
Staff will get more job satisfaction, the more control they have. Give them responsibility and the authority to act on that responsibility. You will do less micro-managing and your employee will feel trusted and valued.
Training will not only benefit your organisation in the long run, it will help with your employees’ job satisfaction. Individuals will always appreciate properly targeted training as it demonstrates a company’s commitment to them and their personal development.
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June 28th, 2009
Management training should equip you with the analytical tools to be able to make difficult decisions. However there are often so many imponderables that some choices can seem more like gambling than well reasoned decisions. Nobody knows what tomorrow will bring.
There are some directions which you may feel forced to take, but you always need to take a balanced view. We are currently undergoing a world recession, or if you prefer, economic downturn. Companies need to trim their costs, we are told. How can they do that quickly? Well, they can shop around for better deals on some of their overheads like power and telephones, but the biggest overhead is usually staff costs. Unfortunately, the quickest way to reduce costs is to reduce staffing.
This, in turn, means that as the upturn in business arrives, there is pressure not to over commit on the wages bill. This leads to considering outsourcing. However, there are a number of arguments against this.
It is expensive. There may be short term savings but the money could be spent on the personal development and training of your current employees. It can affect company morale negatively and the outsourcing company can’t possibly know your business as well as you do.
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June 27th, 2009
‘Churn’ is the expression used to describe how many customers are leaving a business. Companies should do everything they can to keep this to a minimum but a constantly changing customer base seems to have become the norm in many industries. Telephone companies, broadband suppliers, gas and electric are just some of the industries where effectively swapping customers at regular intervals is accepted as par for the course. Your initial reaction may be that there’s no harm in it as long as overall customer numbers do not drop. However, it is far more expensive to obtain new customers than it is to retain old ones. Many companies have recognised this and try far harder to retain existing customer but for other companies it may be time to change their sales training.
Most people seem to have a mobile phone these days. Initially everybody took out a 12 month contract. In the early days of the industry there were stories of appalling customer service and consequently people would often change suppliers at the end of the 12 months. It has to be said they did not necessarily find the customer service at the rival business any better and would keep changing. Companies got their act together, ensured call centres were properly manned and are even confident enough now to insist on 18 or 24 month contracts.
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June 26th, 2009
Outsourcing has not only become fashionable, it has also become an economic necessity for many companies.
One of the most obvious benefits is specialisation. This can be where your business is about to undertake something it hasn’t previously done. Obviously you could research the area and recruit new staff or train existing employees. However, it is often easier to hand things over to the experts and concentrate on what you’re really good at. This also has the advantage that the experienced individuals that you’re tapping into should get more immediate results.
Another benefit is that of saving money. It will usually be cheaper to employ the outsourcing company’s workers so there will be a direct saving. There is also the possibility of indirect savings as fixed overheads can be reduced. This also means greater flexibility. Budgets can be adjusted far more easily and necessary reductions in expenditure effected at shorter notice.
This flexibility also means that it is easier to switch from one job to another. For example, if your accounting function is outsourced, you might wish to tighten up credit control with the necessary chase calls and letters being issued far sooner.
The key to outsourcing is not to alienate your own staff or let them feel their personal development is not a priority.
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June 26th, 2009
How many articles have you read recently which stress the importance of particular things in times of recession? Well this is another one of those! Hopefully you will read on though as it sets out some very useful ideas to set you thinking about the various areas of your business. In turn, this will ensure you get the most from your resources. Whilst the ideal situation is to get specialists in to look at your business from top to bottom, this is not always viable for both practical and financial reasons.
The first thing to consider is your communications strategy. This applies to both internal and external communication. Make sure you’re getting the most out of electronic means of communication. Email marketing campaigns are far more immediate, direct and less expensive than traditional methods. Similarly, a lot of travel can be saved by video conferencing.
It is vital to ensure that staff do not become demoralised by being asked to work harder whilst accepting that there will be no pay rises. Consider areas where you can offer them something which will not actually cost the company any financial outlay. The most obvious areas are additional holidays and considering more flexible working patterns. The first will not affect the company’s wages bill and the second has consistently turned out to be a way of increasing productivity. Talk to your staff and ensure that they know you value their personal development.
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June 25th, 2009
You can never examine your business too much. Here are some areas that are worth thinking about, which could make a huge difference to your company’s profitability.
Look at your purchasing department. Obviously, you can improve cash flow by ensuring you do not carry unnecessarily large supplies of anything, but there can be far greater savings to be made. Look around to see if there are companies who need some of the same supplies as you. Provided they are not direct competitors, look at the possibility of combining your purchasing power to attract economies of scale and drive down costs.
In fact co-operation with other businesses can be beneficial in other ways. For example, you may supply different things to the same businesses. You could introduce each other’s business to your customers.
Look at diversifying. You already have many resources in place such as premises, staff and equipment. A brainstorming session can come up with some surprising ideas. Keep an open mind and seriously consider all options.
Focus for a time on your biggest overheads. Do you really need all that office space? What else is out there? Review utility bills and make sure you’re getting the best deal. Similarly, although usually harder to change on a regular basis, is your bank really looking after you?
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June 25th, 2009
Outsourcing all sorts of functions has become more and more popular. The fact is, it often works out cheaper especially as it effectively sidesteps many of the expenses usually relating to employees. One of the most common arguments for outsourcing is that it is a way to access specialised knowledge which might otherwise be unavailable. Many organisations will not have specialist trainers for example and cannot justify having such a person on the payroll. They will therefore outsource their management training to a company who provide the same service for a number of clients. In fact it is sometimes difficult to differentiate between outsourcing and consultancy.
However there are a number of areas that should be critically examined when considering outsourcing telesales.
The most obvious risk is that you are handing the responsibility for keeping in touch with your clients over to a third party and you have no way of knowing how good they really are.
You also need to consider whether you should be investing in your own company, rather than in a third party. After all your own staff may well be the best people to talk to your clients especially if they receive appropriate training.
The management of customer relationships is a priority particularly in times of recession. Do you really want to leave it to someone else?
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