Slingshot Sales Targets

Sales Targets

Previously, we have covered the Slingshot Sales Process and Components including the Band and Frame for your Slingshot Sales.  Today we are going to focus on your Target and understanding why people buy.

Slingshot Sales Target

Target Your Customers

Email now before spots are gone for your sales process review.

Inexperienced sales people tend to use a shotgun effect thinking that if they shoot enough rounds they are bound to hit something.  While this may be true it also wastes a tremendous amount of time, effort and money.  A skilled sales person knows and understands the importance of being laser focused on their sales target.  They also realize the importance of taking the time in understanding why people buy in the first place.

Why Sales Targets Buy

  1. Compelling Reason
  2. They have a challenge and are looking for a solution
    1. Understand the Sales Targets emotional reasons
      1. Pain
      2. Pleasure
  3. Budget and ability (No Money = No Sale)
  4. Authorized to purchase
  5. Timeline to take Action

Understand that your sales targets will buy from people they know, like and trust.  By getting to know your prospects better, through a specific process and system they will be compelled to buy from you.

In our next excerpt we’ll cover qualifying and how to determine if the opportunity is real.

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.

Reserve your space now to have your own Sales Process Reviewed.

 

Bring Your Zombie Business to Life

Has Your Business Entered Zombie Land?

There are a number of movies and television shows today that deal with the issues of zombies, or the undead. While this is, of course, fantasy,Businessman manipulation there are unfortunately a large number of companies that operate daily in a zombie-like state.

Understanding the Situation: How did you become a Zombie Business?

These businesses are like the undead in that they continue to make sales and pay their bills, but they aren’t growing and barely get by each payday. Other signs of a walking dead operation include:

  • A lack of any effective marketing
  • Lack of growth goals
  • Few, if any, new customers
  • An outdated or broken website
  • Ignoring advice
  • A lack of adequate financials and accounting systems
  • Low employee morale and high turnover

The reality for many of these firms is that they will eventually run out of even the few customers they have and shut their doors. One of the saddest scenes you can see it to walk up to a formally vibrant business and find it closed, a sign on the door that it has closed and is no longer in operation.

Finding the Cure

If your business seems to have hit a wall, it’s time to take a hard look at the reasons you can’t seem to grow and are losing ground in your market. On the other hand, it is often difficult for the business owner to take that hard look in the mirror and understand how they got where they are. It is even difficult for many to recognize the seriousness of their situation.

Whether new competition has entered the market, the local demographics have changed, or any of a number of other factors arises to negatively impact your business, it often takes dramatic action to change your direction. Unfortunately, if you are still able to make even a moderate income, it is easy to just continue in that zombie mode, waiting until it is too late to make necessary changes.

When you find yourself in such a situation, it is often much wiser to take one of two steps. You might liquidate the business and Everything Must Go Boxes Overstock Inventory Store Closing Salespend your time at another job where you will make more money without the challenges and risks of continuing to run a dying business. On the other hand, you can wake up to the situation and decide to tackle the issue head on.

Many people find it extremely helpful to bring in fresh eyes and attitudes to help in a turnaround, providing an objective assessment of a business’s condition. For many, hiring a business coach is the first step to a new path of growth and profitability. When you take the time to work with someone who is committed to your survival and success, you receive the benefit of extensive knowledge and insights.Growth - Business Concept

If you feel your current situation is something like the plot of a late-nite show, wake up and turn to a coach who can help you bring new vitality and a bright future to your operations.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.Coaching!
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.

Franchise Growth Through Coaching

Franchise Growth does not just happen!

Want to see growth in your franchise business? If you choose to go the franchise route to build a business, you join with millions of successful business owners who find this a proven route to success. The franchise concept is designed to help you become your own boss, while eliminating many of the risks of the standard entrepreneurial start-up. Once purchased your franchise system, you should own the rights to a proven business model that offers a product or service with a proven track record. However, you’ll quickly learn that most franchise programs are designed to eliminate risk, not maximize your own return on investment. The truth is franchises fail at about the same rate as small businesses and much of the reason for this is a lack of the owner’s business skills. To see real growth in your franchise business you are going to have to sharpen your business skills as well.

The Growth of your Franchise is important

There is an old saying in business that says if you are not growing you are dying. A franchise unit that is growing generally indicates the underlying business and operations are running well. Growth + Profitability = a sustainable business! If you see growth in your franchise during good times it also gives you the needed room when times are less favorable.  Growth, second only to profitability is a key indicator for your business.

Standing Above the Crowd – Amp up your Franchise Growth!

Most companies who market franchises understand they are judged first by how many of their franchisees fail. While they want everyone to succeed at some minimal level, they work hard to ensure the number of failures is kept as low as possible. What this means to you is that even the best companies spend little time providing guidance to help you achieve more than the minimums called for in their formulas.

It is a fact, however, that many franchisors have the potential to generate far greater returns than they do. The reality of this fact is based on the stellar results achieved by many franchisors who turn to a franchise coach to help get the advice they need to exceed basic franchise formulas. To really see some accelerated franchise growth you need to surround yourself with a good team of advisers, and draw on resources beyond the franchisor’s system.

The reason this works is proven by the franchise approach itself. You basically buy a “business in a box” because you respect the knowledge and experience of the company offering you the opportunity. Likewise, there are franchise advisers who understand the insides and details of franchising as an industry, not just in the specific area of your own franchise. A franchise coach thus brings business knowledge and best practices to your franchise model or franchise business. The difference between running a mediocre franchise and running a successful one is much like the difference between buying an average job or owning an enterprise.

Measuring Franchise Growth the details, metrics and KPIs

Franchise Growth ChartJust as your own franchise is developed around a certain formula, there are additional formulas and factors that are involved in maximizing your success and total profits. Finding the right franchise mentor will expose you to a whole new world of invaluable insights, metrics, and Key Performance Indicators.

The franchise industry has thousands of examples of how vital this added layer of knowledge and experience is and how it adds value to your operation. If your franchise company has been around for more than four or five years, look closely: You’ll often see it within that organization.

Franchise Growth comes from specific activities

For example, you can find and compare two different franchises with similar demographics and market territories. One will be blowing off the doors with great sales and profits, with minimal internal hassles and employee turnover. The other will be struggling and barely able to keep those doors open financially and operationally. The gap between these two operations isn’t luck or some magic secret.

The reality is that the most successful franchisors often point to the decision to bring in a top franchise mentor as the point at which their businesses take off. Don’t rely on luck or your franchise company – take control of your destiny with the insights and solid advice you will find with a qualified franchise coach.

What to see real growth in your franchise contact Thom.

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.

What is Strategic Thinking?

What is Strategic thinking?

How to Develop this Essential Skill

Strategic thinking is a valuable skill to master in both your professional and personal life. Mastering this talent will bring tremendous value to any project you undertake. Many studies have proven that individuals skilled in strategic thinking are also highly effective in leadership positions because of their excellent problem-solving and decision-making approaches to a variety of situations. Leaders who can think strategically, are able to look at an issue systematically, which allows them to identify the impact of their decisions across all departments within and outside the company.

Strategic ThinkingWith the benefits strategic thinkers can bring to a business, you may be wondering how you can hone your strategic thinking skills – or even develop strategic thinkers within your own organization. This is not a task to be taken lightly, this is about the mindset of the individual as well as learned techniques that can be applied to problems.

To better develop this skill, it is important to take time to reflect on the lasting effects of your decisions prior to making them. Ask yourself questions to determine what the final outcome may be – who is, and who will be involved in this decision, what risks are presented, how difficult will it be to arrive at your desired outcome – is it worth it in the long run?

Don’t let tunnel vision prevent you from seeing all angles of a situation. Having too narrow of a focus will restrict the opportunities you have to think strategically about a situation. Strategic thinkers are able to connect the dots between people, ideas, and plans to see a bigger picture that others fail to see. Practice viewing the world as a giant web of interconnected ideas, and you will soon discover that you can easily spot the connection between multiple objects.

While thinking of problems and creating solutions is valuable, it is equally valuable to be able to quickly and confidently arrive at a decision. In order to put your plans in place and your ideas in action you must have the capability of making choices, even if those choices are ones you do not personally agree with. Closing one door and opening another is a situation that leaves many of us paralyzed with fear, but is critical to being strategic.

You will need to make choices about what you will and what you won’t do. It is at this critical juncture that your ability to see and think strategically about a situation is really tested. Don’t let the fear of failure or the risks hold you back if you want to truly look at a situation strategically. All this requires is a deliberate approach in your actions.

In the end, this will require practice – perhaps years of patience. This may not be the easiest of skills to acquire, but the end result will turn from a simply average leader to an exceptional leader, mentor and boss.

Thom Torode is a NJ based Business & Franchise 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 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.

Essential Tips for Hiring Great Employees

Hiring Great Employees for your Franchise business –  A Very Effective way to Create Consistent Results.

All business owners face the ongoing dilemma of hiring and maintaining a staff of effective employees. This problem is especially well known to franchise business owners, who face the consistent requirement of filling a team of intelligent individuals who work well together.

Businesswoman At Office

The task of hiring great employees is, unfortunately, easier said than done. What manager or business owner hasn’t faced the problem of hiring on a new candidate, only to find that they just aren’t “cutting it” despite the extensive experience on their resume, and the excellent references provided? While job applications, background and reference checks all provide keen insight into the nature of the candidate, this ultimately doesn’t provide the valuable data you need to determine how well the employee will work with your team.

Every hiring manager is looking for a common set of traits in their ideal candidate. They want someone who fits in with company culture, can be easily (and quickly) trained in the job at hand, has a great personality, and is reliable. If finding these elusive candidates seems like a chore that will never end, you have came to the right place for advice.

Let us share with you some of the inside tips and tricks for finding great candidates. Read on and we will also let you in on our secret tip for making sure you are screening candidates so effectively, you only have to interview the best.

Hiring Tip #1:

Make your job ad appealing to someone who wants to work for the right employer, and not just any employer. Humanize yourself and your business, and be honest about what you are looking for in an employee. List out the exact qualifications someone must meet in order to be hired, as well as some “nice to haves”. This lets job seekers know you mean business.

Hiring Tip #2:

Make sure you place your ad in places where it will be seen by the best candidates possible. Don’t just post it on your local free bulletin board, use several different sources – even though these may charge fees, it is worth the investment.

Hiring Tip #3:

Let unworthy candidates “de-select” themselves from the hiring process. Why spend time screening and interviewing candidates who were not the right material? For example, at Sunrise Business Advisors, we have perfected what we refer to as the “4-Hour Hiring Process”. This process is designed to gather the best candidates as quickly as possible. For business owners, the old adage “time is money” rings true, and the less time spent wasted on the hiring process the more efficient your business will run.

Contact us for more information on our hiring and candidate de-selection process. Our friendly staff will be happy to answer your questions, and help you determine the best hiring and interview process for your business needs and goals.

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.