Tips from the Top - February 2016
Hiring Hungry Sales Staff
Let’s face it, hiring good sales people is hard. Really hard. There are all kinds of assessment, tests, and other things that go along with the interview and recruiting process. But the process can start off really well before you talk to anyone; it starts with a solid job description and quotas that reflect the behavior you want from your sales people.Read more
5 Tips to Keep Your Finances in Order
If you have had a less than pleasurable or informative experience with your bookkeeper or accountant in 2015, now is a good time to take action and make changes for a better 2016. Here are 5 tips to get started…Read more
Mandatory “Fun Day” for Your Team
I have a partner and 10 employees who are dedicated to the success of our company. They work hard to maintain our reputation for product performance and customer service. We’re not without our challenges, but our culture is strong.
That’s why my partner and I decided to schedule a "Mandatory" Fun Day, which is paid for by the company. The "mandatory" aspect evolved as an inside joke because we had a difficult time deciding what to do, but it became "mandatory" to have a paid day off of fun for the whole team.
The team finally decided on Go-Kart racing. We had a blast and then all went to dinner. We added a little glue as well as humor to the culture on Mandatory Fun Day, and it certainly won’t be our last!
Organize Your Email
Set up a To-Be-Processed folder in your email tool. When reviewing your inbox, move the messages that require more time for response to the folder. Later you can go back without having to search in your inbox.
Henry Ford’s Wisdom for Product Development
There are many theories about how to develop new products or improve existing products or services. One solid approach is to ask your customers for ideas on how to improve a product or what they would like to see. This brings to mind a famous quote by Henry Ford, "If I asked my customers what they wanted, they would have said a faster horse!"
Even though you may get negative feedback, you can still use what you learn to produce the "wow factor" by providing your customers with something they didn’t expect.
When you go from doing everything yourself to affording an administrative person, there is a crucial step in-between. We used a virtual assistant.
With a VA, you don’t have to worry about whether or not you have enough work for a person. They only charge you for hours worked, and if you go through a company like UpWork, they will take care of the W-9 form and any IRS reporting. You can search for your VA based on skill or geography, or you can post a job and people will bid on it.
Those Golden Referrals
According to Harvard Business Review, asking for a referral from existing clients instead of spending time, effort, and money to resell them can result in up to 10X ROI compared to just getting that next order (which will probably come to you anyway). It’s called Lifetime Referral Value, a very powerful opportunity if you run your program correctly.