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Best Practices of Sales Forces

Posted by on Aug 18th, 2015 in Business Management, How To, Marketing | 0 comments

Best Practices of Sales Forces

So you want to know how to be successful in sales and want to know how to become a better salesperson?  Sales success begins with attitude, it’s directly connected to understanding that the sale is not about you; It’s not about commission, It’s not about moving an item of off the shelves, and it’s not about the hefty paycheck. It’s not about you – it’s about the customer. Sales Pitch is the Key: Nowadays, an effective sales pitch is a two-way street — a conversation where you listen to the buyer, ask real questions, and offer them a solution to a challenge they’re experiencing. A good sales pitch starts with a great first impression. Sales professionals work hard to make a memorable and positive initial impact by creating laser-focused one-liners, but it’s just as important that your short, snappy delivery also resonates long after you’ve delivered that opening line. You want a presentation that holds your audience’s attention — the longer you’re able to keep that attention, the higher your chances of winning them over. And captivating your audience involves being prepared with relevant buyer information, and a pitch that actively includes the buyer in the discussion. At its most basic level, the sales pipeline represents your company’s sales process and how your company tracks progress through each stage of the process. Knowing that, here are a few tips to get you on your way to a more effective sales pitch: Do the Due Diligence Give Them the Answers To Your Homework You’re Listening, But Are You Hearing Your Buyer? A Call for “Call to Actions” If you are engaging your customer over the phone, to achieve sales success, be upfront about the reason for your call, vouch for the integrity of the product or service you are selling, and draw comparisons between your prospect and satisfied customers. When leaving voicemails, emails or follow-up messages, it’s important to reiterate the reason for contacting them, as well as summarizing your intent. Finish up the message with an suggested action either on your part or theirs. Pipeline #Management: Pipeline management includes everything from the way the sales pipeline is designed to how it is measured and how it is used to drive sales-rep performance. Without a clearly defined sales process, the pipeline has no foundation. We found that sales forces were most effective at managing their pipelines if they invested time in defining a credible, formalized sales process. In fact, there was an 18 percent difference in revenue growth between companies that defined a formal sales process and those that didn’t. x https://youtube.com/watch?v=PvZ-Ky3xrW0?list=PL5B53174B0151071A Track the Source: For optimal sales effectiveness, you need to provide employees with a tool that captures information about each and every interaction with your prospects and customers. This includes integrating your different channels, such as your website. People most often hear about your company and products and services through ads, referrals, online banner ads or some other form of advertising. You need to keep track of what actually caused these suspects to raise their hands so you can better determine what works and what doesn’t. Curated from 3 Best Practices of Sales Forces Are you a Problem-Solver; then you have a streak of sales person in you: Great salespeople also tend to be into solving problems and driving for results. They’re positive...

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Should I Follow Up Post Job Interview?

Posted by on Aug 13th, 2015 in How To, Human Resource, Interview Questions | 0 comments

Should I Follow Up Post Job Interview?

x https://youtube.com/watch?v=OmedCA3Kh0M Here is a brief and concise article on how to go about post job  interview follow-up. So tell me, should candidates send a follow up note after an interview? Yes, always. Whether or not a candidate is truly in the running, the interviewer can get crazy busy and it’s important to always follow up with a note and even a call in a week if there’s no word back on next steps. Candidates should never be afraid to ask for acknowledgement and closure, even if it’s not the news they want to hear. It is a great way to not only let someone know that you appreciated their time and insights – but also to make sure they are aware of your interest and enthusiasm, and reinforce how you “fit”. From a recruiting perspective, what’s the purpose of sending a follow-up? The follow-up is a way to reiterate interest and reaffirm why the candidate is the best fit for the role. It’s never too late, although at that point the hiring manager may have already made her decision. But front-running candidates do decline offers and take other positions, so there’s always a possibility of being considered. A note will probably not be able to turn around an interview that did not go well, but it could be something that could help differentiate you from equally strong candidates.  From a recruiting perspective, the recruiter will appreciate someone showing their understanding of and connection with the company, the role, and/or the people they met.  That could make a big difference. Show that you can be graceful: Follow up with post-interview thank-you letters to each person you talked with on your job interview. The first step in your follow-up is a polite handwritten note card to each interviewer. You won’t be able to fit many words on each notecard, and you don’t need to. Your handwritten thank you note is very important, because the biggest problem you face after your job interviews is that the interviewers forget who you are. They will literally forget you unless you bring yourself back to mind by mentioning something specific that you and each interviewer talked about. An interviewee says: You guys have no idea how effective this method is! In my last interview, I left knowing that I bombed it because I wasn’t receiving any positive feedback from my interviewer. I was pretty bummed out by it but nevertheless, I sent him a thank you letter via email just to thank him for his time. I didn’t expect a response but little did I know, a few days later I got a nice reply from him and a week after that, I got called in for a second interview! Just goes to show how far a little effort can take...

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Need a Business Idea? BI #1

Posted by on Aug 8th, 2015 in Accounting, Entrepreneurship, Human Resource | 0 comments

Need a Business Idea? BI #1

Best New #Business Ideas for 2015 – Accountant Create a flier outlining your services. Before you do that, you need to know what those services will be. Do you want to simply do bookkeeping for a small business? A more involved level of #accounting would be do actually work up balance sheets, income statements, and other financial reports on a monthly, quarterly, and/or annual basis, depending on the needs of the business. Other specializations can include tax accounting, a huge area of potential work. Many business owners don’t mind keeping their own day-to-day bookkeeping records but would rather get professional help with their taxes. Most small businesses don’t have a full-time accountant, so the task of record keeping often falls to the business owner. A highly organized, trustworthy, part-time bookkeeper can really alleviate the stress of sorting through receipts and tax returns. You’ll most likely only need to put in one or two days a month for each client, depending on how many sales and expenses they have. Knowledge of QuickBooks is a plus, but not necessarily a requirement for, this side business. And if you don’t already have a relevant degree, you can take bookkeeping classes at a local community college. You can also become a certified bookkeeper through organizations like the National Association of Certified Professional Bookkeepers. Curated from Need a Business Idea? Here are 55 It’s the year of the entrepreneur. Thanks, in part, to social media, crowdfunding and alternative lending options, and the constant evolution of technology, it’s a great time to start a business. Attractive #Business Ideas for Accountants Some of the most important business ideas for accountants are given as under. Bookkeeping: Bookkeeping is a lucrative business alternative for accountants. Both and small business firms require to maintain updated bookkeeping. With the availability of various software and computers equipped with the latest technology, bookkeeping has become easier than before. Accountants can engage themselves educational bookkeeping, this kind of business venture require both experience and education which the accountants usually have. Payroll Service: Payroll service which is a subsidiary of bookkeeping service is a very good business idea for accountants. #Payroll services are necessary for most of the companies, and accountants can engage themselves into this kind of service which will help them earn good profits. #Tax preparation: Tax preparation service can prove to be a very fruitful business idea for the accountants, for this kind of business grows very easily and appeals to numerous clients. Accountants taking tax preparation service as a business plan means that both individuals and firms will act as...

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Business Acronyms Quiz

Posted by on Aug 2nd, 2015 in Quiz Corner | 0 comments

Business Acronyms Quiz

Acronyms are inevitable components of business life and if you are not familiar with some of the important terms, life can become difficult. Do this exercise without opting to open the down arrow button and test your brain’s efficiency. Try to unveil these 30 Business Acronyms Related to HR, Finance and Accounting: BKPR Book-Keeper CAO Chief Accounting Officer SHRM Strategic Human Resource Management CIPD Chartered Institute of Personnel and Development CTO Chief Technology Officer HCM High Commitment Management HPWS High Performance Work System CIO Chief Information Officer CPA Certified Public Accountant BGT Budget COGS Cost of Goods Sold EPS Earnings Per Share LC Letter of Credit P&L Profit and Loss ROA Return on Assets ROE Return on Equity ROI Return on Investment CIMS Certified Investment Management Specialist DRIFT Do it Right the First Time B2B Business to Business B2C Business to Consumer CTC Cost to Company USP Unique Selling Point PR Public Relations Inc. Incorporated IPO Initial Public Offering GDP Gross Domestic Product EBITD Earnings Before Interest, Tax and Depreciation ESO Employee Stock Option GASS Generally Accepted Accounting...

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All-time Quotes by Abdul Kalam

Posted by on Jul 31st, 2015 in Leadership, Quotes and Quotes Only | 0 comments

All-time Quotes by Abdul Kalam

All-time Quotes by #Abdul Kalam The crux of his life in his very own words: “My story—the story of the son of Jainulabdeen, who lived for over a hundred years on Mosque Street in Rameswaram island and died there; the story of a lad who sold newspapers to help his brother; the story of a pupil reared by Sivasubramania Iyer and Iyadurai Solomon; the story of a student taught by teachers like Pandalai; the story of an engineer spotted by MGK Menon and groomed by the legendary Prof. Sarabhai; the story of a scientist tested by failures and setbacks; the story of a leader supported by a large team of brilliant and dedicated professionals. This story will end with me, for I have no belongings in the worldly sense. I have acquired nothing, built nothing, possess nothing—no family, sons, daughters.” Some very unique and inspiring quotes by the great man: 1. “All birds find shelter during a rain . But Eagles avoid rain by flying above the clouds. Problems are common ,but attitude make the difference . 2. “Let me define a leader. He must have #vision and passion and not be afraid of any problem. Instead, he should know how to defeat it. Most importantly, he must work with integrity. 3. “Anyone who converts a challenge into an opportunity through innovation creates wealth. He or she indeed is a leader, are you? 4. “Yesterday leaders commanded the control (yesterday they were commanders, the leaders). Today, leaders empower and coach, that means potential leaders will be empowered to the exposure of needs of sustainable development, what we need today. 5. “For #success in all missions, it is essential to have creative leaders in our country or anywhere else. Creative #leadership means exercising the vision to change the traditional role from the commander to the coach. 6. “What is Success? When your signature changes to ‘Autograph’. 7. “Take risks in your life. If you win, you can lead! If you lose, you can guide! 8. “Man needs difficulties because they are necessary to enjoy success. 9. “Don’t read success stories you will get only messages, read failure stories you will get some ideas to get success. 10. “######dreams are not what you see in your sleep, dreams are what which doesn’t let you sleep. 11. “You have to dream before your dreams can come true. 12. “To succeed in your #mission, you must have single-minded devotion to your goal. Also “If you get No as an answer, remember N.O. means “Next Opportunity”. So Let’s be positive. 13. “If you salute your duty, you have no need to salute anybody, But- If you pollute your duty, you have to salute everybody. 14. “I am not a handsome guy, But ‘ I can give my hand-to-some one who needs help. Beauty is in the heart Not in the face. 15. “Never rest after your  first victory, because many lips are waiting to say that your first victory was just luck. 16. “If a country is to be corruption free and become a nation of beautiful minds, I strongly feel there are three key societal members who can make a difference. They are the father, the mother and the teacher. 17. “It is very easy to defeat someone, but it is very hard to win someone. 18. “Suffering...

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When is Employee Downsizing the Answer?

Posted by on Jul 23rd, 2015 in Change management, Decision Making, Entrepreneurship, How To, Human Resource | 0 comments

When is Employee Downsizing the Answer?

I was going through this quote by Vince Lombardi the other day and couldn’t control my amusement and laughter for some time. “If you aren’t fired with enthusiasm, you will be fired with enthusiasm.” But the truth behind this statement looms large in front of all HR professionals when they start working for an organization in whatever capacity. Results, Targets, Closing the sale, Clinching the deal are the inevitable #management mantras that drive the executives crazy. Isn’t it funny that it is very important to keep the morale high of the #survivors during a layoff #strategy! How on earth one can expect such a thing to happen when you know the sword is dangling above your head too! Please remember, “Resources are hired to give results, not reasons.” You need to be a star performer the first time and every time. Why Downsizing Happens? When the management of an organization finds out that their organization is not operating at peak efficiency, they naturally look for ways to make the organization more productive. This is seldom accomplished via organizational downsizing, which is a reduction in organizational size and operating costs implemented by management in order to improve organizational efficiency, productivity and/or the competitiveness of the organization. Organizational downsizing affects the work processes of an organization since the end result of the downsizing is typically fewer people performing the same workload that existed before the downsizing took place. The act of downsizing results in two categories of people: ######victims, the people who involuntarily lose their jobs due to organizational downsizing, and survivors, the employees who remain after organizational downsizing takes place. When Is Downsizing the Answer—and How to Do It Right? “When downsizing is a knee-jerk reaction, it has long-term costs.” In order for an organizational downsizing to be most effective, management must connect openly and honestly with their employees concerning the reason for the downsizing and the downsizing plan. Managers also need to listen to employees and provide comfort when necessary in order to keep the morale high among the survivors of the downsizing. It is also important that management take steps to prepare the workforce in advance of the downsizing. Proper planning includes outplacement strategies, which is the process of supporting former employees in finding new employment and training and re-skilling the remaining workers into their new jobs. By treating the victims of downsizing fairly and compassionately, the survivors of the downsizing are more likely to remain loyal to their organization. Best Practices for Managing the Downsizing Process Be transparent about the current conditions that the organization faces and the potential impact on the workforce. Treat laid-off employees with respect and sensitivity. On the day of discharge, give employees options on how they want their exit handled. Ensure that procedures used to make decisions are seen as just and fair. Carefully examine the impact of employment downsizing on all HR systems. Give survivors a reason to stay and new hires a reason to join.  Kim Cameron’s 3 types of downsizing strategies: 1. Workforce Reductions– short-term strategy to cut the number of employees through attrition, early retirement or voluntary severance packages, and layoffs or termination. 2. Work Redesign– medium-term strategy in which organizations focus on work processes and assess whether specific functions, products and/or services should be eliminated. 3. Systematic Change– long-term strategy that changes...

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International Business Travel Tips

Posted by on Jul 9th, 2015 in Business Management, How To, International Business | 0 comments

International Business Travel Tips

“Travel is more than the seeing of sights; it is a change that goes on, deep and permanent, in the ideas of living.” – Miriam Beard Whether this is your first time to travel or you’ve traveled for more times than you can count, relax. Business trips can be fun. Of course, you have meetings to attend, business to take care of and employees to follow up with. Work does not mean you cannot see new places and meet new people. If you’re visiting a new city, you should take time to walk around and have fun. Here are the things you need to do to make your trip relaxing. International travel for business can be a very exciting opportunity. You not only get to see new and interesting parts of the world, but you even get paid while doing it. In order to have the best experience possible, there are things you can do in advance to prepare. Here are some invaluable tips to help execute the perfect international business trip. One experience that might be frustrating to many foreign travellers is a procedure called Immigration Check. It is always better to be at the airport atleast three hours ahead of time to complete this gruelling procedure so that you can relax in the lounge. Otherwise you will be made to stand in the long queues testing your patience. Create an Organized #itinerary:  Plan Your Trip Make sure that your days are packed with opportunities to help your company. Scheduling time for appointments, meetings, and personal time is very important to executing a beneficial international business trip. An itinerary should be a good guide for your trip’s goals and achievements. Because you do not want to waste any time on this trip, it’s better to plan in advance to take full advantage of the opportunity. “All journeys have secret destinations of which the traveler is unaware.” –Martin Buber The words sound like a no brainer but seriously plan your trip. If you want to have fun, check events, restaurants, and places you are interested to see online and how close they are to where you intend to stay. You don’t want to spend your trip worrying about missing a meeting and definitely not exploring the city’s transportation system. Take some time before you actually travel and plan exactly where you want go. For directions, you can download Tripomatic: Trip Planner. This application comes with maps needed, so download it to your phone and you’re good to good to go. Tripomatic works offline. Learn about the Culture and Customs: Before landing in said country, it’s important to understand the environment, culture and practices of this region. Knowing up-to-date news and information about your international travel destinations will help you avoid inappropriate comments or disrespectful behavior. Not only is it important to understand the culture, but it is also beneficial to know protocols, customs and etiquette as well. This includes things like: common greetings, religious practices, business manners, dietary practices, and acceptable humor. “If you reject the food, ignore the customs, fear the religion and avoid the people, you might better stay at home.” – James Michener Learn the Native Tongue: While not every business trip requires learning a whole new language, it’s always advisable to seek out some basic vocabulary for the...

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When to take the GMAT?

Posted by on Jul 2nd, 2015 in B-Schools, How To | 0 comments

When to take the GMAT?

Overall MBA Application #strategy: Average scores are creeping higher every year at the top MBA programs, making it hard to offset a bad GMAT score. Timing and planning are key to reducing the stress of the application process. Since both GMAT and GRE scores are valid for five years, getting the exams out of the way years in advance would free you to focus on all of the other elements of the application. If, like most applicants, you didn’t have the foresight to take the exam right after college, the next best step is to plan your application strategy so that the GMAT is finished before you finalize your list of schools. Your score isn’t everything, but it is an important part of the admissions equation. For whatever MBA admissions round you’re targeting, your target date for taking the GMAT should be at least two months before your first application is due. The deadline for taking the GMAT will vary dramatically depending on the admission procedures of each school to which you apply, and the term in which you are planning to enroll. Keep in mind that you can take the GMAT up to 5 times, but never more than once per calendar month (including a month in which you cancel your score), even if you have cancelled your score. Most applicants devote at least 100 hours to test preparation, and depending on where you are in the process, you may have to take a prep class and perhaps take the test more than once. If this is the case, the first round may not be a realistic option unless you’re able and prepared to completely immerse yourself in the process. A1 Applications usually open in the summer, but start thinking before then.  It’s never too early to start planning! How to avoid mistakes in MBA applications? From disorganized resumes to poorly written personal statements, there are a number of mistakes an applicant can make when applying to business school. With some guidance, though, they can avoid these pitfalls and stand out from other prospective students. Many applicants turn to admissions experts for help and advice on which admissions round to enter, how to get strong letters of recommendation and what to say during an admissions interview. “Whether you’re a star candidate or an average one, you can play up your best qualities.” You just need to understand what it is about your background that will make you the best possible candidate – and then prove it clearly in your application and interview. Your resume needs to tell the story of the ‘real’ you – the person behind those #GMAT scores and that work experience. So don’t pretend to be the perfect MBA candidate. For one thing, that person doesn’t even exist. An MBA admissions officer at a leading US business school says the most common error she sees is applicants who are “trying to be someone they are not, and trying to impress the admissions committee.” GMAT scores: Stanford University had the highest average GMAT score for incoming full-time students in fall 2014, according to data submitted to U.S. News. Below are the 10 business schools with the highest average GMAT scores for incoming full-time students in fall 2014. Business school  Enrollment (fall 2014) Average GMAT score B-School rank Stanford University (CA)...

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Objectives and Principles of Plant Layout

Posted by on Jun 17th, 2015 in Operations Management, Project Management | 0 comments

Objectives and Principles of Plant Layout

Info on Objectives and #Principles of Plant Layout: Plant layout refers to the physical arrangement of production facilities. It is the configuration of departments, work centres and equipment in the conversion process. It is a floor plan of the physical facilities, which are used in production. A plant layout study is an engineering study used to analyze different physical configurations for a manufacturing plant. It is also known as Facilities Planning and Layout. Some Precise Definitions for Plant Layout: According to Moore “Plant layout is a plan of an optimum arrangement of facilities including personnel, operating equipment, storage space, material handling equipment and all other supporting services along with the design of best structure to contain all these facilities”. “Plant layout is the #arrangement of machines, work areas and service areas within a factory”. —George R. Terry “Plant layout involves the development of physical relationship among building, equipment and production operations, which will enable the manufacturing process to be carried on efficiently”. —Morris E. Hurley “Plant layout can be defined as a technique of locating machines, processes and plant services within the factory so as to achieve the greatest possible output of high quality at the lowest possible total cost of manufacturing”. —Sprigal and Lansburg “Plant layout ideally involves the allocation of space and the arrangement of equipment in such a manner that overall operations cost can be minimised.” —J. Lundy From these definitions it is clear that plant layout is arrangement and optimum utilisation of available resources in such a manner so as to ensure maximum output with minimum input. Objectives of Plant Layout: The primary goal of the plant layout is to maximise the profit by arrangement of all the plant facilities to the best advantage of total manufacturing of the product. The objectives of plant layout are: Streamline the #flow of materials through the plant. Facilitate the manufacturing process. Maintain high turnover of in-process inventory. Minimise materials handling and cost. Effective utilisation of men, equipment and space. Make effective utilisation of cubic space. Flexibility of manufacturing operations and arrangements. Provide for employee convenience, #safety and comfort. Minimize investment in equipment. Minimize overall production time. Maintain flexibility of arrangement and operation. Facilitate the #organizational structure. Principles of Plant Layout: Principle of integration: A good layout is one that integrates men, materials, machines and supporting services and others in order to get the optimum utilisation of resources and maximum effectiveness. Principle of minimum distance: This principle is concerned with the minimum travel (or movement) of man and materials. The facilities should be arranged such that, the total distance travelled by the men and materials should be minimum and as far as possible straight line movement should be preferred. Principle of cubic space utilisation: The good layout is one that utilise both horizontal and vertical space. It is not only enough if only the floor space is utilised optimally but the third dimension, i.e., the height is also to be utilised effectively. Principle of flow: A good layout is one that makes the materials to move in forward direction towards the completion stage, i.e., there should not be any backtracking. Principle of maximum flexibility: The good layout is one that can be altered without much cost and time, i.e., future requirements should be taken into account while designing the present layout....

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Leadership Quote of the Day -1

Posted by on Jun 15th, 2015 in Leadership, Quotes and Quotes Only | 0 comments

Leadership Quote of the Day -1

My take on a leader:  L – Lead by Example E – Empower People A – Aspire D – Dare Devil Driver E – Empathy R – Responsible...

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