Submitted by: Steve Lawson
Every business owner or salesperson I have met wants to increase income. Learn the following skills so you can run a more effective business. As Steven Covey says in 7 Habits of Highly Effective People, you should continuously Sharpen Your Saw. In other words, always be learning. Increase your knowledge in any of the following topics should make your business more successful.
The first category is technology. Within technology, there are two areas that have a big impact on your business. One area is learning to use internet marketing. In today s society, people turn to the internet and conduct research prior to making decisions on many topics. It is during that process that you want them to find you! Study internet marketing so you can achieve this simply and cost-effectively.
The other area is learning to utilize a CRM, also known as a Customer Relationship Manager. It is a database that organizes all your contacts, clients, and prospects and integrates them with your calendar, your marketing, and your follow up system. A good CRM will keep in you contact with clients and prospects on a frequent basis. Remember out of sight, out of mind.
The second category is marketing. In my opinion, this is where our university business schools tend to be inadequate. College marketing courses provide ample education on mass media, television, radio, magazines, and more. This is very important to know if you provide marketing to Fortune 500 firms. However, most small businesses I know have significantly smaller budgets and these marketing strategies are not usually successful on a smaller basis.
Instead, you need to learn how to utilize budget marketing for small businesses. In particular, you should utilize networking, word of mouth marketing, and referrals to grow your business. Continue to learn ways to improve your skills in these areas and you will continue to see the revenue of your business increase.
The third category is sales. If you cannot persuade prospects to buy, your business is in trouble. There are very few professionals who cannot persuade ANYONE to buy. However, there are a lot of professionals that could be much more successful and profitable if they were to improve their closing ratio by 10% or 20%. You can achieve this by taking a class, reading a book, or hiring a sales coach. In other words, you need to continue learning.
Many people think of sales training as learning to close a sale. Instead, learn to improve your ability to develop relationships. Remember, people make purchases from individuals they like and trust. Improve your skills at earning that trust and making people like you so you can watch your revenue increase.
Another important part of sales is making presentations. Whether this is a formal presentation to a corporate board room filled with officers or a presentation to mom and pop while sitting at their kitchen table, learning to give more effective presentations makes sales easier.
The third category is cash management. Most business schools teach Corporate Finance. However, small businesses need Shoestring Budgets. In order to learn more in this area, you can turn to a library, bookstore, or the internet.
Perhaps you have learned the disadvantages of accumulating debt in your business. If not, you should definitely do some reading on that topic. If you have learned that lesson, you may want to spend some time studying the most effective ways to get out of debt.
This leads into the other part of cash management and that is controlling expenses. I have heard, and at one point subscribed to, the phrase it takes money to make money. Because of that I was never afraid to spend money. I just thought it was a step in the process of making money. However, experience has proven that this phrase is not accurate. With my clients and in my own business I have found ways to make money and increase revenue without the need to spend money.
The fourth category is time management. Too many professionals work harder, but not smarter. This results in too many things to do and not enough time to do them. In turn, this results in people working too and being too stressed. There are only so many hours in a day. You should take a little time and learn to use them effectively.
The bottom line take a little time, improve some important skills, and see the results in your business.
About the Author: Since the early 1990s, Steve Lawson has been training independent professionals to prosper. Attract a non-stop flow of prospects with almost no budget. Check out the free Business Optimization Calculator (under Tools) and learn more about us at
ProspectionNetwork.com
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