What is a Business Advisor?

Have you ever felt like you’re “buried in the weeds”?

 Do you feel like your business could be more profitable if you only had someone to advise you on how to keep things on track?  Does the idea of hiring a business advisor seem extravagant or mean that you have failed?  Not at all, so maybe it’s time to consider the value of bringing in someone with a different perspective.

A trusted business advisor can help you at all levels, having experience as an entrepreneur as well as coaching others grow their business.  You don’t need to have a multi-million dollar, or even a multi-$100,000, company to justify hiring an advisor. If you are committed, assessing where you are and getting you to where you want to be is more than worth the time and money you will invest.

Expect to fill out an online assessment questionnaire that will give the business advisor a good idea of your current state and your objective.  Like the forms you need to fill out before seeing your doctor, this step is important for the advisor begin to develop a plan just for you.  

What’s my Time Commitment?

You will then meet with your advisor for a free 60-90 minute consultation.  The first discussion will be to clarify your vision, or mission statement, by identifying your core values.  At this time you’ll discuss the status of your company, review the questionnaire and brainstorm ideas on guiding you to your vision.  Listening to your advisor is key because you want to get the most benefit from their experience. Value that will be added to your bottom line when you work together.

Generally you will meet with your advisor weekly or bi-weekly for a couple of hours, depending on the terms you agreed on together.  In addition, you may call or email if you need to discuss an issue before your next face-to-face.  Advisor accessibility is part of the package.

Where do we start?

You will delve into the strength of your corporate vision and culture.  It is not uncommon to have miscommunication between the leader(s) and team members regarding vision, issues and processes. Your advisor will coach you through anything from setting up metrics to track important numbers, personnel evaluation, efficient meetings and goal setting.

Quarterly group sessions that focus on setting and attaining goals are offered free of charge to the clients.  Attending these half-day sessions are important because they get you out of your day-to-day tasks while you brainstorm issues with like-minded business owners.  Since these sessions are open to the public, you might consider paying the entrance fee so you can see the advisor in action.  You will be inspired and energized at the very least, and it will give you a glimpse into how this advisor could benefit you in an on-going capacity.

Your advisor’s goal is help your company grow.

Thom Torode, MBA Certified Business & Executive Leadership Coach, EOS Implementor

Generating more money does not automatically mean that your profits will rise.  Your business advisor will work with you to establish the processes you need from the ground up.  With these tools in place you’ll will know exactly where your company is because you’ll be tracking the right data.  Your people will be better informed and focused.  You’ll minimize wasted time and money.  Your company will be healthy and profits will rise.  When you have a question or concern, your business advisor is only a phone call away.

If you would like to have a Review Session with coach Thom Torode, click here to schedule.

Thom Torode is a NJ based Professional Executive & Business Coach and EOS Implementer. Having owned and operated over 5 different businesses he 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 Handling Objections

Handling Objections

In  previous article we discussed the importance of working with qualified sales prospects in order for the band in your Slingshot sales process to properly tighten before launch.  If objections are not handled properly the Slingshot band will break or release too soon.  Handling objections with finesse and grace will allow the band to release with just the right tension thereby closing the sale.

When Objections are handled properly the process is like a rocket taking off.

When Objections are handled properly the process is like a rocket taking off.

Prospects will have two types of objections.

  1.  Legitimate concerns
  2. Those voiced as objections, while in reality are the prospects way of asking for reassurance and clarification.

Throughout the Slingshot sales process it is critical to remain calm,  patient,  and focused.  Remember, people buy from people they know, like and trust.  Above all be authentic while handling objections.                Prospects know when your trying to pull one over on them.  While handling objections properly is literally like watching a rocket ship take off.  When objections are not handled properly your life become like the Greek god Sisyphus forever pushing a rock up a hill.difficult business task

To keep the band tight and ready for release it is important to answer questions in a forthright manner.  It’s also of to continue inquiring with a prospect where they are in the buying process.  This includes asking them to be open and honest if at any point their plans have changed.  This helps both of you from wasting each others time.

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 Qualifying

Sales Qualifying

In our last article, we discussed Sales Targets and understanding why people buy.  Once we have know whether it’s primarily based on Pain or Pleasure, we can now determine if the opportunity is real through Sales Qualifying Questions (SQQ).

The Band

In the Sling Shot Sales Process all the aspects of the process lead up to having a band that is taught and ready to hit your target.  In this part of the process we are adding energy to the band preparing for its release.

Typical Qualifying Questions: 

Slingshot Sales Qualifying

Slingshot Sales Qualifying

  • Does the prospect have and issue that is big enough to justify paying you money?
  • Is there a budget and ability to spend?
  • Are all the relevant decision-makers part of the process?
  • Is there a clear time line and process to decide?
  • What solution will best solve their problem?

As you prepare to build out your Sling Shot Sales Qualifying Process, remember that you are the professional sales person must always be aware to define all the aspects of your process.

Typically these elements are required in the Sales Qualifying Process:

  1. The Step in the Process
  2. How that step happens (phone, email, in person)
  3. Time for each step
  4. Criteria in determining success and knowing when its OK to move onto the next step.

As you follow these steps the band on your Sling Shot will continue will continue to tighten preparing you for the next step of handling objections and managing momentum.

Book Now to have your sales process reviewed –

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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.

Going Lean

July Business Tip: Going Lean

A lean program actively manages operational efficiency, which causes a chain reaction of business benefits. Efficiency promotes safety, saves time, controls costs, and ensures quality. Quality translates into high customer satisfaction. Customer satisfaction is directly connected to revenues. Safety is implicit in turnover cost management. And, of course, revenues and cost control are the components of profit margin. So, the operational and financial benefits of implementing lean practices throughout all business units are pervasive, including in administrative offices, sales, forecasting, and others in which lean policies are too often not recognized as applicable. A lean policy extends far beyond dictating periodic clean-outs. It’s a way of doing business—every day. There are multiple excellent models for lean operations. ISO provides guidelines. Universities teach “5S” structures in business courses (sort, systematize, shine, standardize, and sustain). The various versions of lean programs have key principles in common.

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Success by Going Lean

A) Organization

Whether it’s called systematizing or just straightening up, getting organized cannot be overestimated. It really is the first fundamental for a quality operation. Some talented business managers imagine themselves as intellectually exempt from need to operate in an organized environment. Such attitudes fail to inspire confidence of customers, guests, inspectors, supervisors, and subordinates in the professionalism of the organization and have a generally corrosive effect on a positive business atmosphere. Further, until one has functioned in a well-ordered system, he/she cannot meaningfully predict how much improved his/her personal performance would be over time.

B) Controls

Remove obstacles that inhibit the smoothest flow of movement as employees conduct processes, whether in manufacturing production or office processes. Rearrange machinery and furniture that cause unnecessary steps. Archive unused paper files. Eliminate or reorganize electronic files that cause employees to search drives excessively. Implement inventory control methods so that new stock is purchased only when the supply level of a particular item drops to a specified level. Revise workflow processes to cut unnecessary peripheral distractions or tasks. Arrange schedules so that work of like-types or along the same routes is performed by the same employee, where practical. Reducing minutes and seconds wasted by all employees daily adds up to a staggering amount of time savings that can be used to increase productivity.

C) Maintenance

Establish self-monitoring systems. Hold all employees accountable for maintaining their piece of the lean program. Support this policy with routine assessments by management. Inspections may seem extreme to employees who are unfamiliar with lean systems. However, when a lean program is structured under a simple ABC structure, as above, most employees can be successfully helped to understand the necessity of managing operational efficiency and will grow to appreciate the significance of the professional benefits of working in a lean environment.

Think about how these processes can make an impact on your organization going lean.  When you ready to learn how to implement these strategies in your business contact us for your Business Assessment Review.

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 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.