Business Growth

How To Build Business Value

Sales Tip: Identifying Your Ideal Prospect

»Posted by on Sep 8, 2011 in Business Growth, Sales & Marketing, Sales Training | 0 comments

Who Is Your Ideal Prospect? Prospects are everywhere.  Theoretically, your telephone directory is full of prospects, but it doesn’t make sense to start contacting everyone in your telephone directory; they’re just suspects. How do you determine who your prospects are?  First, you define a prospect. Defining a prospect A prospect is more than a name on a list.  Names on a list are just suspects.  You can identify a prospect by doing a small amount of detective work and some reasoning.  A prospect is a person who is favorably inclined to purchase what you’re selling. A prospect must satisfy four...

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Is Your Business Too Dependent On You?

»Posted by on Aug 24, 2011 in Business Growth, Management | 0 comments

Building a business is similar to raising children. As a parent, you should remember that your children are just passing through your life on the way to their life. At some point, you must let them go. It should be the same with your business. You should build your business with the goal of having it demand less and less of your time until the day when it no longer needs you on a day-to-day basis. With children, if you continue to direct their lives after they leave the nest, you’ll cause all kinds of trouble. You could possibly ruin the relationship, by not allowing them to develop in their own...

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Profitability: The Top Line; The Bottom Line

»Posted by on Aug 17, 2011 in Business Financial Planning, Business Growth, Growth Strategies, Management, Sales & Marketing, Sales Training | 0 comments

Before a business has a bottom line (profit), it must have a top line (revenue). Sales and marketing generate revenue; cost controls and performance measurements (metrics) determine the profit. In tough economic times, business owners discover that the first thing to suffer is the top line – sales.  They can cut costs and measure results until the cows come home, but they will not have a good bottom line without a strong top line. Integration of marketing, sales, cost controls, and performance measurements are necessary to foster profitability for any business. To make sure profitability is a rising...

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Do You Want To Sell Your Business or Just Sell More Business?

»Posted by on Aug 14, 2011 in Business Growth, Coaching, Management, Sales & Marketing, Sales Training, Selling A Business | 0 comments

I’m often asked, “Harvey, what do you do?” My answer is, “I help people sell their business, and I help people sell more business.“ That may sound strange, but it isn’t.  More than 80% of businesses cannot be sold for any price, not even by skilled business intermediaries. The main reason they cannot be sold, is their sales volume isn’t large enough to attract a buyer for the business. Many businesses don’t even have a salesperson, much less a sales manager. Those businesses are dependent on customers walking in the door, calling on the phone, or sending an...

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4 Ways Outsourcing Leverages Your Resources

»Posted by on Aug 7, 2011 in Business Growth, Growth Strategies, Management, Outsourcing | 0 comments

  One of the least utilized tools available for growing a business is outsourcing.  Outsourcing is when you take a function, activity, or need of your business and hire an outside company to do the work instead of doing it in-house. This includes: contracting with a fulfillment company to stock and ship your customer orders; hiring an online marketing company to do your pay-per-click ad campaigns; turning over your payroll to a professional employment agency; and so on.   You avoid:  Hiring large numbers of new staff; Investing in new capital equipment or leasing larger space; Investing in...

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3 Exit Strategies For You and Your Business

»Posted by on Aug 5, 2011 in Business Growth, Exit Strategy | 0 comments

Every story needs a great ending, and so does your business story.  The good news is you get to write your own great ending.  It is called an exit strategy. You’ll learn that this may or may not mean actually selling your business.  Many successful business owners choose to stay actively engaged.  The difference is that continued involvement is a personal choice, not a business requirement. You get to make that decision and choose any of these three main exit strategies: 1.   Sell the business and move on to your next great adventure. 2.  You can grow your business to the big time. 3.  You can...

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