Slingshot Sales Components

Components:

In my first post about the Slingshot Sales Process I talked about why a Sling Shot and gave you a little understanding about how it applies to developing a sales process.
Let’s review some of the individual Slingshot Sales components of the Slingshot System

The Band:

The elastic band is the part of the slingshot where the action takes place. It takes energy to pull back the band and propel the projectile forward. With just the right amount of energy, the band can be released and send the projectile flying accurately to hit its target.

Components: Frame & the Band

The Frame:

A slingshot only works well when its frame is strong. For the effective salesperson, this means the right attitude, beliefs, and character. Remember that a strong frame provides the structure to allow the salesperson to use the slingshot process to aim, pull back, hold, and release to the target. Without a strong frame, the salesperson is weak and ungrounded.

Successful salespeople, have some or all of the following traits (Components):

  • Ability to EMPATHIZE, including the ability to read subtle clues by the prospect.
  • Desire to WIN and ACHIEVE. Top salespeople love the game and they WELCOME REJECTION.
  • They are OPTIMISTS. When a setback happens, they assume it will be temporary, that it is externally caused, and that it only applies to a specific part of their lives.
  • AUTHENTIC. They are authentic with prospects because they don’t mind telling the truth. If you have a concern, you voice it. You can be authentic and diplomatic.
  • They effectively balance RELATIONSHIPS, RESULTS, and EGO. Three forces are always at work with salespeople: building relationships, getting results (by closing sales and hitting sales goals), and managing their egos.

Next,  I’ll guide you through understanding your target, as well as,  helping you know why people buy.

Thom Torode is a NJ based Professional Executive & Business Coach. He has owned over 5 different businesses and is currently the Managing Director for Sunrise Business Advisors. Thom’s expertise includes working with those business owners who have plateaued getting them unstuck and back in growth mode. Additionally, Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

Slingshot Sales Process

Slingshot Sales Process

I’ve heard allot about the importance of creating a sales process lately. In fact a quick Google search brings up more than 128 million hits. Unfortunately most of those are encouraging you to use or follow “their” process. At Sunrise Business Advisors, our approach is vastly different.
We believe in the importance of having a sales process, in fact if you don’t have a process you might as well be using a shotgun to try and hit your target.
If you’ve ever had a prospect in your pipeline who wasn’t a fit for the service or product your franchise business offers you understand the full frustration that brings to mind.
By having and using a sales process you can virtually eliminate all that frustration. Our process that we demonstrate is based on using a sling shot.

Why a Slingshot?

A slingshot is a device with a frame and an elastic band, which allows the user to fire a projectile with accuracy, speed, and depth.

Slingshot Sales Process

Focused Aim at Your Target

Slingshot Sales Process

With the right conversations, the salesperson and prospect exert just the right amount of energy to the band to make the projectile fly (e.g., close the sale). With the wrong conversations, the sale either breaks down or falls short.

In my next article, I’ll go into more detail about the how and why of a slingshot.
Email Now before spots gone for your sales process review.

Thom Torode is a NJ based Professional Executive & Business Coach. He has owned over 5 different businesses and is currently the Managing Director for Sunrise Business Advisors. Thom’s expertise includes working with those business owners who have plateaued getting them unstuck and back in growth mode. Additionally, Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

The Why Behind Your Goals

Your Why Behind Your Goals

Setting Goals is important understanding the why behind your goals is critical. Learn 3 steps that will almost guarantee you the results you desire.

It is something of a cultural phenomenon for everyone to focus on future goals and new resolutions around the end of each year. Whether or not you participated in this process as 2015 started, it is worth stopping here at the end of the first quarter and complete a quick assessment. Are you, in fact, pursuing the goals you consider most important? Do your daily priorities and accomplishment move you along the path to achieving those goals in a timely manner?

As you pause to reflect on these important questions, it is worth evaluating every task you undertake each day and week by some simple, yet vital, criteria. As you already know, it is very easy to be quite busy every moment of the day and end that day feeling like you accomplished very little of importance. In fact, some of the most important tasks you set for yourself are easily put off if you don’t tackle them based on properly assigned priorities.

Themed photo 'Reaching your goal via a bullseye'Below we provide three basic questions that almost every time management experts concur are part of properly organizing your time and achieving your desired success targets. While these are not the important principles related to effective time management, they serve as an excellent starting point.

1) When is this specific due? The word specific is very important to this question. Most people understand the idea of eating an elephant a bite at a time, (that’s the only way to do it!) and grasp the idea that all major projects must be broken down into digestible elements. If you don’t have that significant and looming To-Do broken down, it is easy to tell yourself you’ll tackle it later – and suddenly the due date is upon you. When you find yourself constantly against deadlines and rushing to get priority products done, that is a good indication you aren’t taking the time to plan your work correctly. And, another popular trope says it all, Failing to Plan is Planning to Fail.

2) What’ll happen if I don’t do it? It is vital to understand the second component of getting things done, and that is not doing the unimportant until the important is accomplished. Often called the Tyranny of the Urgent, many people who fail to get where they want to be lack the ability to say no, or on the other hand say yes to the wrong things.Priorities List

Each morning, you will undoubtedly start off with a longer list of things to do than you can possibly accomplish. You’re on the right track when you do the thing that must be done (to meet your goals) first. Of course, this assumes you’ve done a good job of aligning your priorities with those of your employer and supervisor. If you are your own boss, that makes this discipline all the more important.

3) To whom do I owe the responsibility of completing this task? The answer to this question usually has at least two, and maybe more, dimensions. Certainly, we must accomplish the tasks we assume that are directly related to helping our business grow and thereby earning money. That is the first dimension. Secondly, we should be designing our work flow where the accomplishment of each task is meeting our personal needs and expectations.

Beyond these, there are your stakeholders: Your team of employees, customers, family and other players. Here is where the answers to the first two questions come into play. Others will always task us with expectations, tasks, and responsibilities. However, eventual success again comes down to first meeting your own carefully determined priorities and expectations, freeing you and/or positioning you to help others.  In other words, understanding the why behind your goals.

golden-circleHere’s a bonus tip. Successful and effective time management is never an accident. It should be your first goal and your first priority – this will make all other goals more feasible and attainable.do something awesome right nowThom Torode is a NJ based Professional Executive & Business Coach. He has owned over 5 different businesses and is currently the Managing Director for Sunrise Business Advisors. Thom’s expertise includes working with those business owners who have plateaued getting them unstuck and back in growth mode. Additionally, Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.
In addition to being a Certified Business & Executive Coach, Thom is also a Certified Franchise Business & Leadership Coach, as well as Certified Guerrilla Marketing Coach and Trainer. Our philosophy is to provide coaching, mentoring, and advisory services to help business owners achieve the businesses, the teams and the lives that they’ve always dreamed of having. We accomplish this through a tried and proven process of learning and understanding your needs and we’ve always achieved high marks with our valued clients.

Customer Retention Improvement for your Business

Improving Customer Retention

If you’re a business owner, then of course you want to do everything you can to not only gain new customers, but to keep your existing customers loyal to you. Unfortunately, customer retention isn’t always easy; customers may leave as a result of a bad experience with one of your employees, a bad product, or even a lower price offered by a competitor. While there are all kinds of customer retention strategies out there, there’s one that’s been proven to be the most successful.

Customer Retention Dartboard Perfect Dart Hit

Develop and Enforce KPIs Among Employees

Because the majority of customers who leave a business do so as a result of poor customer service, the single best thing that business owners can do to retain customers is to implement Key Performance Indicators (also known as KPIs) within the workplace. KPIs should be tied to a company’s goals and should be easily measurable. They should also be included in each employee’s contract.

Some examples of KPI’s that can directly improve your customer retention rate are benchmarks such as:

  • Response time to customer inquiries.
  • Time between receiving and order an fulfilling it.
  • Ratings on customer surveys.
  • Quality control levels on finished products.
  • The actual measurement of your customer retention

At the end of each quarter, all employees should receive a KPI review; during this review, managers and supervisors can determine whether or not each employee is meeting those key performance indicators as outlined. If not, then corrective actions may need to take place, additional training may be required, or the employee may not receive a special bonus or incentive.

On the other hand, if KPIs are met, then the employee should be rewarded in some way, whether it be financially or even just giving him or her some form of recognition within the workplace.

How KPIs Improve Customer Retention

There are many ways in which implementing and tracking KPI requirements among employees can help boost customer retention in any business. For starters, employees will have a greater incentive to deliver service to customers that reflects the values and goals of the company. As a result, customers are more likely to be satisfied with their service. After all, an employee will know that he or she could be reprimanded for not delivering the level of service expected and will strive for excellence as a result.

When it comes to customer retention in your place of business, you need to do everything you can to keep your customers around so your company can be as successful as possible – this is good for you, your customers, and your employees. Therefore, if you don’t have a KPI strategy in place among your employees, now is the time to start thinking about developing and implementing one.

For additional information contact: Sunrise Business Advisors

Thom Torode is a NJ based Executive & Business Coach. He has owned over 5 different businesses and is currently the Managing Director for Sunrise Business Advisors. Thom’s expertise includes working with those business owners who have plateaued getting them unstuck and back in growth mode. Additionally Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

As the managing director of Sunrise Business Advisors, I have owned and operated a multitude of different businesses as well as holding senior management positions with a fortune 500 company. In addition to being a Certified Business & Executive Coach, I am also a Certified Franchise Coach, as well as Certified Guerrilla Marketing Coach and Trainer. Our philosophy is to provide coaching, mentoring, and advisory services to help business owners achieve the businesses, the teams and the lives that they’ve always dreamed of having. We accomplish this through a tried and proven process of learning and understanding your needs and we’ve always achieved high marks with our valued clients.

Additionally Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

How A Little Customer Appreciation Can Go A Long Way

Franchise Success through Customer Appreciation

When running a business, or operating a franchise, customer appreciation is generally not a subject at the front of a business owner’s mind. Few people realize how big of an impact the simple act of giving thanks can make on their bottom line. It’s important for any franchisee to remember that clients are the life-line of your business – and in order to be successful as a company, one must win over the hearts of their customers.

Ensuring your customers are happy and satisfied starts with interacting with each customer in a meaningful and impactful way. Every positive interaction with a customer is a step in the right direction, and will make customers think of your business before visiting your competition the next time they need your product or service. If you think back – when is the last time you felt truly valued as a customer, or were sincerely thanked for your patronage? If you are able to remember this, how did that make you feel about the business? It isn’t often that companies pay attention to this small but important element of business, and implementing a customer recognition plan is an obvious priority if you want to stand ahead of your competition.

Customer Appreciation Franchise Success Coaching

Showing customer appreciation is a powerfully effective strategy for retaining customers and increasing each individual customer’s life-time value. Like any marketing strategy, this should be a tactical plan you can implement into your current process.

Customer appreciation should begin with a good foundation, such as developing an authentic company culture which will also help your staff feel more empowered to go the extra mile and help solve customer’s issues. Your company culture should emphasize the importance of acknowledging, thanking and recognizing customers for their loyalty.

Ideas for a customer appreciation program include:

  • Training your staff in the importance of customer recognition. Reward your employees when they have satisfied a customer.
  • Consider personalized messages to your important customers. This can include hand-written notes, or exclusive gifts.
  • Consider loyalty cards – these will reward customers for repeatedly patronizing your business. Make these valuable enough to stand out from the rest. The average U.S. household is enrolled in more than 18 loyalty programs, but is only active in 8.4.
  • Free gifts with purchase are another effective mechanism for rewarding customers.
  • Holding events – the International Franchise Association has some great tips on event marketing to grow relationships with your customers.

You can also get input from your employees on what they would want as a customer. Including your employees in this process will help cement this strategy, and make them feel like they are a part of the company and the decision, which will help them perform better.

In the end, a little appreciation can go a long way in today’s world, where everyone is constantly connected to the internet, social media and technology. Small acts of appreciation and kindness can help set your business apart – but remember to be sincere and genuine! If customers get the idea that this strategy was only implemented to increase profits, well they will quickly turn their attention elsewhere. Figure out what is important to your customers band implement something for your specific customer base – you, or your customers will be thankful.

Thom helps business owners and franchise operators achieve success.

As the managing director of Sunrise Business Advisors, I have owned and operated a multitude of different businesses as well as holding senior management positions with a fortune 500 company. In addition to being a Certified Business & Executive Coach, I am also a Certified Franchise Coach, as well as Certified Guerrilla Marketing Coach and Trainer. Our philosophy is to provide coaching, mentoring, and advisory services to help business owners achieve the businesses, the teams and the lives that they’ve always dreamed of having. We accomplish this through a tried and proven process of learning and understanding your needs and we’ve always achieved high marks with our valued clients. Let us help you become a Franchise Success story.

Additionally Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.