Whenever I’m speaking to sales managers and directors, I find that many are frustrated that seemingly no matter what they say to their sales team, the team is still getting stumped over price objections from their clients! In this article we’re going to look at why your sales team still get price objections and how this gets in their way (and yours) of sales success.
In times of Change, people feel much more secure with strong and clear leadership, but they need considered action and decisions from their leaders. The trouble is, with the pace of business today, the pressure has never been higher and consequently there is always a temptation to act just for the sakes of moving things off the pending pile and appearing decisive.
Change specialist Richard Derwent Cooke suggests that sometimes, the best way forward is infact to stand still for a moment a lend some quality time to a spot of good old fashioned conversation.
This year’s winner of ‘The Apprentice’, sales manager, Lee McQueen, was caught out during the interview stage for lying on his CV about how long he had been at university.’
Despite this, he was still hired, but, as Victoria Band from The One Group explains, real life isn’t like that and lying or even exaggerating to a prospective employer is never a good idea.
“All of us want to make a good impression,” said Victoria. “And it’s only natural that we’re occasionally tempted to tweak the truth to make us seem more suited to a particular job.
Research highlights need for mobile communications as senior staff spend a minimum of 11.5 weeks away from team members every year.
- 60pc of small business senior decision makers that we spoke to spend a minimum of five hours out of the office a week – equivalent to 32.5 working days a year.
- 42pc of small businesses consider they pay too much for their mobile communications plan and yet 77pc do not have a plan that balances the cost of phone calls, mobile emails and text messages.
- 65pc also do not have the means to control the cost of international calls from mobile phones.
Many are wary of upsetting key customers by chasing slow or overdue debts. But as a frequent surprise to many suppliers, buyers often report privately that a failure to chase agreed debts is not seen as a relationship-building exercise, but as weak management. A contractual debt owed is a contractual debt to be paid!
In Parts 1 and 2 of this series, we have stressed the importance of ‘starting off on the right foot’ contractually, and ‘keeping your eye on the ball’ financially.
Of course, some organisations have no shame in delaying payments to their creditors, until pushed really hard.
Whether you really want to trade with such bad payers is entirely up to you, but here are some more handy tips that might help however things might go wrong.
Part 2: Keeping your eye on the ball
Getting your Terms and Conditions right and checking customers’ credit status are vital. (See Part 1 of this series). What else can you do to ensure prompt payment?
Monitor your Aged Debtors and set Customer Credit-Limits
You will probably already review your debtors at least monthly, to keep an eye on defaulters. Most financial software packages readily provide this data phased by sums due over successive months. Ignore it at your peril.
The monthly ‘Total Outstanding‘ figure per client is also critical. Your credit checks on each customer should also produce credit limits and you need to have really good reasons to allow these to be exceeded. (Banks, Factors and Debt-Insurers can be laughably conservative in guiding you here, but don’t ignore their advice without excellent reason.)
When doom, gloom and despondency reigns in business, the inevitable response is always to make cuts. No surprise here. The media resound with everyday stories of staff cuts, budget cuts and training and development cuts. And yet, at the same time, there is an astounding growth in job advertising for ‘business development’ executives of multiple shapes and sizes. It’s a stereotypical and oh-so predictable response to tough times ahead. Jeremy Thorn assesses the problem
The option to have flexible and mobile working can be a deal breaker when choosing a new job according to 70 per cent of respondents to a commuter survey carried out by THUS plc. An encouraging 72 per cent of employees said that their employers actively promote this style of working within their corporate cultures which demonstrates how UK companies are embracing flexible and mobile working. However, this still means that 28 per cent of companies are not currently offering flexible and mobile working and risk losing out on the best candidates.
UK entrepreneurs are increasingly relying on older workers to plug skills shortages in their businesses, according to figures released today by entrepreneur think tank, the Tenon Forum.
Nearly half (45 per cent) of UK owner-managers are concerned about skills shortages and many claim younger recruits are often just not up to the job. Over a third (34 per cent) of SMEs report a lack of work readiness amongst graduates and 31 per cent cite poor literacy and numeracy amongst school leavers as a key issue facing their business.
Are you like a Parrot and need colour in everything regardless of cost? Or are you a Cheetah and need everything at speed? Or perhaps you are a Panda or Polar Bear and are happy with everything in black and white?
Leading behavioural psychologist, broadcaster and journalist, Donna Dawson, says that office printing habits are the best way to examine the dynamics of the modern workplace, where people’s behaviour can be equated to The Human Zoo.
In February Mervyn King, Governor of the Bank of England, stated that “tighter credit conditions will bear down on demand” and he projected poor growth forecasts and higher inflation. At times like this, banks may refuse or reduce credit facilities and so it becomes vital that businesses have their own stringent credit control systems in place to ensure cash flow is maintained.
So the decision has been made to go it alone. Casting the master-servant relationship aside after years of promising to do so has finally arrived and the world is now your oyster.
Launching a small business is tough, with the line between success and failure being extremely fine.
However, there are a few simple questions and rules, which, if followed through, may make the difference between deciding to throw in the towel before you get your feet wet or wading into the murky depths of small business ownership.
Increasingly, businesses have been looking to ‘word of mouth’ marketing to find clients with the growth of networking groups providing opportunities for companies to spread the word and get referrals.
Times move on and with the growth of online social networking opening people’s eyes to the power of the internet, companies are looking to see how the increasing number of ‘social’ business networks can be used for marketing and sales purposes.
IF you’re tired of your staff singing the blues help is at hand with a unique team building experience to improve working attitudes.
Orchard Studios, based in the stunning Cheshire countryside, is opening its doors to businesses across the country and offering a fantastic day of team building with a difference.
As well as being an innovative, inspiring and highly motivational experience, a day at Orchard Studios will cost you only a fraction of the cost of most corporate events – and best of all, it’s great fun and it works.