Building A Million Dollar Sales Presentation

Getting clients to listen to you is a job half done for a sales person, the other part of the job is to close the sale. No matter how interested prospects a business attracts, until and unless quality professionals close the sale successfully the prospects are no good for the business. When it comes to closing of sale, the most important factor that contributes to its success is the sales presentation.

No matter how good the product or service offering of the business is, it all comes to the sales presentation, which makes an impression on the prospects. The lines below give some tips on making of what can be called a million dollar sales presentation.

Converse:

Most of the sales presentations are usually one sided in which the sales person delivers the speech without letting the prospects make any input. The best way of starting a sales presentation is to start with probing questions, that makes them think and feel a part of the presentation. This way a sales person can make the presentation a more interactive activity, resulting in greater interest of the prospects.

Clear Objectives and Thinking:

The objective of a successful presentation is to make the point clear as quickly as possible. If a sales person is unable to quickly make the objective of presentation clear to the audience it may lead to confusion. A successful sales person takes the audience step by step in the sales cycle and provides information only that is necessary to quickly transfer the information.

Clear Structure of Presentation:

In order to keep the prospects interested in what you are saying it is imperative that you have a clear structure of presentation, where every information given gives birth to the next point you want to discuss. Moreover, a clear structure of presentation also helps the audience remember the points discussed during the presentation. Thus by the end of the presentation the audience knows what they have been through and what is expected from them.

Relevant Stories:

It happens often in the sales presentation that the audience is unable to remember what you said during the presentation as well as afterwards. Therefore, the key to make the audience remember what you said is to support your information with relevant stories. The stories create an image of words in the mind of the prospects thus they are better able to remember the content of the presentation in addition to relating with it.

Rehearse:

Above all the most important point to consider pertaining to a million dollar presentation is to rehearse the script. A good sales person is like an actor who remembers the script and rehearse it with all the intonations. So that when the sales person goes in front of the audience, the script runs through the mind and gets fluently transferred to the mind of the audience. Therefore, the key to success of the presentation lies in the preparation and effort put before the presentation.

Bottom Line:

In short, a million dollar sales presentation starts with a probing question, and ends with the prospects willing to close the sale. In between these two ends lie the factors such as a good sales structure, clear objectives and thinking, relevant stories, and rigorous rehearsal of the presentation by the sales person before going on the floor.

5 Characteristics of Successful Businesses

There are certain key features that differentiate a successful business from a non-successful business. Every successful business has its own set of unique characteristics that make it different from other, thus helping it achieve success in the market.

Besides the unique features,successful businesses carry some common characteristics. These characteristics make a business grow and be successful. Some of the major characteristics of successful businesses are given below.

1. Right Employees:

The first and foremost important characteristic of a successful business is that it has the right employees on board. The successful businesses would rather not hire an employee instead of hiring an employee below par. A business that understands the important role played by employees in its success are the ones which give value and recognition to their employees. Having the most competent and right employees ensures that a business wont waste time and money on development of employee, rather the right ones would just fit into business instantly.

2. Effective Planning:

In order to achieve success, a business needs to have a course to the success, and that can only be sketched by proper and effective planning. A successful business has each and every thing planned, and that too not for the short run, rather for the long run. Effective planning means that business has an understanding of its current position and the position it can achieve in the near future, thus the resources are adjusted accordingly.

3. Open To Ideas:

The success of a business greatly depends upon the ideas it conceives and implements. A successful business is always open to new ideas no matter where they come from. A good idea can come from the employees, customers, and clients etc. therefore, if a business wishes to achieve success, it needs to be open to listening to what other have to say.

4. Reactive:

Another characteristic of a successful business is that they are reactive to all the factors that affect them both from the inside and outside. A business needs to react to external factors such as the economic changes and the latest technological developments. On the other hand, the internal factors such as employee motivation and the availability of resources also need to be responded immediately and effectively.

5. Keep on Learning:

For a business that wants to keep on running, it needs to keep on learning. A business that wants to achieve success must be always open to learning. A successful business always accepts its mistakes and learns from them, which lead to better performance in future.

Bottom Line:

The common factors that successful businesses carry include the right employees, effective planning, accepting of ideas, sharp response to changes and the agility to keep on learning during the course of success.

Leveraging Efforts of Other People Into Your Business

There are businesses that rely on their strengths, do the hard work and survive in the market. On the other hand, there are other businesses, which approach success the smart way. The smart way of achieving success in a competitive market, is by leveraging other people, especially their efforts into the business. This way such businesses make big with minimal hard work.

The phenomena of leveraging comes in when smart entrepreneurs and CEOs realize that they are lacking in some aspect of the business. Therefore, instead of filling the gap themselves, they leverage other people into the business, who could fill up the gap more effectively.

The ‘efforts’ on a broader level can be further divided into five major aspects. A detail of these aspects is given below.

People With Money:

Earning money requires effort. An entrepreneur who has a unique and great idea, when falls short of money to invest in the idea, does not blindly go on earning money to invest in the business.Rather he would let other people with money come in and form a venture. This way the idea of entrepreneur combined with the investment of others takes the form of reality, and makes both parties prosperous.

People With Experience:

Experienced is gained over time and by passing through test and turmoil. An entrepreneur, to make his business plan work, needs experience to run the processes. Being novice to the industry, entrepreneurs lack experience, therefore, instead of learning about everything, the wise approach would be to join hands with people who have experience.A mentor or a consultant is the perfect example of people with experience.

People With Ideas:

There are people who act and there are others who come up with great ideas. A CEO of every small business, must be open to new ideas. The CEO has the experience and ability to take practical action, and whenever the CEO finds things not moving forward, taking help from people with ideas can turn things around for the CEO.

People With Talent:

It would not be a wise way to pursue a task for which the entrepreneur does not have any expertise by spending time on learning about it. Rather the wise way of doing a task with no prior experience would be to bring in people that have the expertise for performing such a task. Outsourcing or hiring virtual assistant that have the required expertise is one of the things a CEO considers.

People With Work:

The traditional and most common way of leveraging the efforts of other people is by using them for work. The common example is the employees of the company. The owner, entrepreneur, or the CEO of the company cant do all the work on his own, therefore he requires employees to carry on the work cycle. Therefore, the best way a business owner can leverage people with work ability into the business would be by finding dedicated and motivated employees, and then transferring authority to them.

Bottom Line:

In short, there is no super human who can do all the works on his/her own, rather its all about leveraging other people into your life. From business perspective, a business owner needs to leverage the efforts of other people into the business to make it a success.

Using Inbound Help Desk Call Center To Build Strong Relationship With Customers

As the saying goes pertaining to business that ‘customer is the boss’. Therefore, no business can survive in long term unless and until it values its customers. By valuing customer it does not mean to only offer the customer with quality product and services, rather in addition to that, it also means developing a relationship with the customer even after the sale has been made.

When it comes to developing a relationship with customers, the need of an inbound help desk call center arises. An inbound help desk is the department of the business where the customer would call to ask information about a product or service, or the customer could call to have their queries resolved. Whatever, the reason of customer’s calling be, an inbound help desk is what makes the impression of the business on the customer. An inbound call center plays a crucial role in developing a relationship with the customer, which leads to conversion of a customer into a loyal customer.

There are ways in which an inbound help desk call center can be utilized to build a strong customer service relationship, a few of which are discussed in the lines below.

After Office Hours Support:

Every business provides an office timing customer support service, but what makes the business build a relationship with the customer is the after business hours customer support. Having an inbound support desk, that operates 24 hours a day, and even better if it works throughout the week can build a strong customer support relationship. Most of the businesses cannot afford to run an inbound help desk call center onshore, therefore, they outsource their call center to outsourcing companies that provide them around the clock inbound help desk support.

Multilingual Support:

With world becoming a global village, and the lingual diversity found in most parts of Europe and America has made it compulsory for the business to provide multilingual customer support. A multilingual help desk support ensures that the customers calling receives the best support, as a result of which the customer gets satisfied and hangs-up the call with a positive image of the brand on mind.

E-mail Response:

With the advancement in technology and internet becoming available at the fingertips of the customers in the form of mobile. A wide majority of the customers tend to communicate with the businesses by writing emails. An inbound help desk call center also performs this function of facilitating the customer by replying to the emails received.

Chat Support:

Providing customer support via chat is another function performed by an inbound help desk call center. Customers tend to utilized digital methods of communication, a business that does not provide its customers with chat support fails to satisfy the customers on several instances. Therefore, by providing chat support, the customer develops a bonding with the business.

Bottom Line:

In short, having an inbound help desk call center can be used as a great tool to increase the customer support relationship. A business, that has multilingual employees, chat support, e-mail response, and 24 hours customer service support in its inbound help desk call center tends to develop a better and stronger relationship with the customer.

Transition From an Entrepreneur to A CEO

It goes without saying that the business industry of today survives on entrepreneurs. With the consumer market expanding, world becoming a global village, more and more individuals are coming up with unique ideas, that make them call themselves Entrepreneur.

No denying the fact that the title of Entrepreneur is synonymous with Brilliance, however, to run a business the title as well as the person needs to be transformed from Entrepreneur to CEO. If Entrepreneurship is all about brilliance, then CEO-ship is all about effective management, which is one point where most of the entrepreneurs lose the grip.

Before moving on to how an entrepreneur can make the transition to CEO smooth and simple, the first thing to do is find out the things a CEO has to perform well in order to do justice with the title.

  • Firstly, a CEO needs to set milestones and directions. A CEO must have an attitude that says no to all kinds of distraction and always remains focused at the end goals and objectives.
  • Second comes the proper allocation of resources, which includes both human and financial resources.
  • Thirdly, one of the most challenging tasks for a CEO is the hiring and firing of the top management, which could either, set the business on the right course, or totally derail it.

Transiting from Entrepreneur to CEO:

The primary functions of CEO would seem simple and easy to do to any Entrepreneur. However, the fact of the matter is that these are one of the most difficult tasks a manager could face. A CEO needs to know a bit about every process of the business, he needs to be the Chief Financial Officer, Chief Marketing Officer, and chief of almost everything.

The lines below give an insight to how an Entrepreneur can make the transition to CEO simple and easy.

  1. The first thing is to keep record of the time you spend in performing the above mentioned tasks. CEO needs to be chief of everything, therefore, an Entrepreneur must learn about every process, have a thorough understanding of it, and give every task its due share of time.
  2. The second thing an Entrepreneur must do is to realize that he cannot be an expert in any of the tasks. Therefore, the right way of pursuing all the tasks is by keeping it simple and steady, instead of spending all the time in mastering a simple task.
  3. The third thing for an Entrepreneur to do is to decide between the ‘context’ and ‘core’ of the business. Core is what a business has to do in-house or on-shore, and context is everything else, which can be and must be outsourced to become an effective CEO.
  4. Hiring and outsourcing company is another thing that represents the transition from Entrepreneur to CEO. If you cannot manage the clients, or don’t have the time to manage them effectively, then the right thing to do would be to hire a virtual agent, or an employee on shore who can share the burden while you emphasis on the strategic matters.
  5. Not getting out of the comfort zone is another mistake which most of the Entrepreneurs make in this transition phase. A CEO needs to be agile and must know everything related to the venture and not merely about his areas of expertise only.

Bottom Line:

In a nutshell, the transition phase from an Entrepreneur to a CEO is very delicate and demanding. Even a single mistake can mar whole of the fruits of the unique idea. Therefore, an Entrepreneur needs to be a master of all, an agile person, and a good manager to become a CEO.

The Power of Using Emerging Market Economic Conditions to Maximize your Company’s Profit

World has become a global village. With the revolution in technology and means of transport, now people in one part of the world can have access to the resources and people of some distant part of the globe.

On the basis of economic development, the world is basically classified into two economies. The developed or prosperous economies, and the emerging economies. The main characteristic of emerging economy is the per capita income, where people have middle to low per capita income.

The per capita income is an economic condition, which the business owners of developed economies can utilize to increase their return on profits. The low per capita income and the quality resources available in emerging economies makes it ideal for a business to outsource its processes to such market conditions, and earn greater profits.

The two primary advantages of making use of emerging economy market conditions, along with the ways of doing so are discussed below.

  1. The primary advantage a business owner can reap from an emerging market is the low cost. As the per capita income in emerging countries is low, therefore if a business can find the right people that could do the job of the business’s on shore processes in a professional manner, then the business can save great on cost by outsourcing the process to emerging economy. For instance, if a business pays high cost for its telemarketing processes on shore, then the business can easily shift or outsource its processes to a country like India or Brazil, where employees can be hired on a value driven cost.
  2. The second advantage comes in the form of competent workforce. Although the emerging economies have low per capita income, but the talent they have is as competent as it could be in any part of the world. The most suitable way for an entrepreneur, or the CEO of a small and medium business to make use of the talent of the emerging economies would be by hiring a Virtual Assistant. The virtual assistant or assistants, are hired employees of the business, and perform all the tasks and duties assigned by the employers from there homeland, which reduces the burden as well as the cost of the business owner onshore.

When it comes to ways of making use of the powers of emerging economy market conditions, there are two ways of doing so.

  1. The first and the orthodox way of doing so would be that the business owner visits the emerging economy market, makes an assessment of the resources available there both in terms of physical and human resource, and then accordingly decide on whether to establish an offshore office in the market or not.
  2. On the other hand, the new and trending way of making use of emerging market economy is by consulting an outsourcing firm and then asking the firm to hire virtual assistants that should perform the delegated tasks. This way of taking advantage is commonly adopted by entrepreneurs, and small to medium size business owners.

Bottom Line:

In a nutshell, emerging economy markets offer great potential to the business owners in developed countries. By availing the expertise in emerging markets that are available on value driven rates, a small business can significantly increase its return on profits.

CEO Delegating Authority

The major problem most of the Entrepreneurs and CEOs of small business face is the delegation of authority to the employees. An entrepreneurs due to so much to do in little time,along with extensive traveling requires people who could take care of the processes in their absence.Hence, they look to delegate their official authority to the employees.

The delegation of authority is a complex and crucial decision to make for a CEO/Entrepreneur. The CEO wants an individual or individuals that share the same spirit and ideology as he/she does, and finding such person is a daunting task. There are outsourcing companies that provide Virtual Assistant services to whom a CEO can delegate authority; however, a CEO needs to be cautious in doing so. The lines below give a detail of the factors a CEO needs to be cautious about in delegating authority to virtual assistants or any employee on-shore.

  • In delegation of authority, a CEO needs to weigh the strengths and expertise of the employee to whom the authority is to be delegated. Making a sales representative in charge of spreadsheets, or having an accountant lead a sales team would not be a good ploy. In delegating authority, the CEO must weigh the employees on the grounds of what they do best and what they enjoy doing the most, this way they can perform optimally.
  • While delegating authority a CEO must analyze the relationship of the selected person with coworkers. Delegating authority to a person who has a negative working relationship with colleagues, or to a person who is the crush of other colleagues, would never do the job for the CEO. On contrary, a CEO needs to select an employee that is neutral in terms of relationship with fellow workers. A Virtual Assistant can serve best for this purpose.
  • The thing to avoid in delegation of authority is over-delegation. An employee, who is already immersed with authority, needs not to be given more authority. The affect of giving authority to such a person would be the employee ignoring the new authority and considering it same as before, which can dismantle the whole work flow process.
  • A CEO needs to be totally objective in authority delegation process. The business owner should strictly avoid favoritism of any sort. Delegating authority to a person who already is considered the ‘boss’s pet’ would de-motivate other employees resulting in a lower productivity as well as a diminishing team spirit. Authority should be strictly delegated on the basis of merit, and no sycophant and unskillful person would be given authority.
  • Last but not the least thing to remember in delegation of authority is care. A CEO needs to be caring and considerate. When delegating authority, the CEO should not just outwardly transfer authority and expect the employee to work miracles. Rather, the CEO firstly needs to make the employee rise to the occasion, and then slowly transfer the authority, which will make the job much easier for the employee, subsequently resulting in higher performance.

Conclusion:

The process of delegation of authority needs to be dealt with delicately. The CEO must be objective, caring, weigh merit, a good judge of character, before assigning authority to any of the employees. Hiring a virtual agent can simply make the process easier and more effective for the business owner.

Virtual Assistant Helping a Chief Everything Officer Become a Real CEO

The connotation associated with the title of CEO is that the CEO needs to be a Chief Everything Officer, rather than being just a Chief Executive Officer. This connotation is plainly wrong.For a business to run smoothly, a CEO cannot do all things on his or her own, in fact a CEO needs a team, and not just any ordinary team, rather an apt and right team.

Being a CEO more than anything is about selecting the right individuals for the right job. A CEO might know about the working of finance department, how IT department works, the responsibilities of a website designer and developer, but he needs not to be a master in it, rather he needs to hire the expert people who could perform their respective jobs effectively and efficiently.

Virtual Assistance

The increasing trend of outsourcing has given birth to the new terminology of ‘Virtual Assistant’. As the name indicates, the virtual assistant(s) is the work force that works for a business remotely from a location where the expertise are in abundance and on a cheaper rate. A virtual assistant can really help a CEO become a real Chief Executive Officer.

Problem Of CEOs

CEOs of most small businesses have the budget constraints as one of their major concerns. Therefore, they are always looking for cheap labor that has the necessary expertise to perform a job effectively and efficiently. CEOs rather than becoming chief of everything turn towards companies that provide virtual assistants, who can share the ideology and burden of the CEO and make it possible for him to become a CEO in real manner.

Hiring Virtual Assistant

The process of hiring a Virtual Assistant is similar to hiring any employee onshore. The process can be illustrated in the following manner:

  • The CEO gives the required job description to the outsourcing company about what kind of assistance he/she requires.
  • The outsourcing company complies with the demand of the CEO and finalizes the right candidate.
  • The CEO can than interview the candidate on a conference call to judge the caliber of the individual.
  • After finalization of the employee, the Virtual Agent is then a dedicated employee working for the CEO virtually.

Benefits Of Virtual Assistant for a CEO:

Besides the major benefits of a virtual assistant, which enables a CEO become a CEO in real manner, a virtual assistant can provide several benefits to a CEO. Some of the major benefits are mentioned below:

  1. The first benefit comes in the form of the CEO getting hold of competent and expert professionals. The virtual assistants offered by outsourcing companies, are not mere clerical workers, rather they are expert in what they do. Thus, the CEO gets hold of a virtual worker with desired expertise.
  2. Secondly, small business CEOs are short on budget. Usually, virtual assistants belong to the regions of the world that are rich in expertise but having minimum cost. Finding an employee that meets the required skill level, at a minimum cost is what a CEO looks for.
  3. Thirdly, with virtual assistant a CEO has complete authority of assigning tasks. Its not like that a virtual assistant works in complete oblivion, rather the assistant is under constant watch and reach of the CEO. Thus making the monitoring and evaluation process easier for the CEO.

Bottom Line:

In short, the title CEO should never be mistaken for a Chief Everything Officer; rather a CEO needs a team of experts to help in proceedings of the business. This is where a good outsourcing company, like ours, can help a Chief Everything Office become a real CEO.

Outsourcing Can Help Maximize the Cash Flow of A Business

In the tough economic conditions of today, every business, especially small businesses look to maximize their cash flow. In layman terms, cash flow is a measure of financial health of a company. Meaning that how much cash a company receives minus how much cash the company pays, in the form of depreciation, amortization, and depletion.

Businesses tend to minimize their cash out flow and increase their cash inflow to maximize their overall financial health. Outsourcing comes to the rescue of businesses suffering from cash flow problems and helps them increase their cash inflow in addition to minimizing there cash out flow.

Small businesses can reap great benefits from outsourcing in terms of maximizing their cash flow. The ways in which outsourcing can help maximize the cash flow are discussed below.

  • When a business outsources one of its processes besides outsourcing the intellectual process the business saves on cost that would be spent on building infrastructure. Meaning that the cash that could have been paid on establishment of infrastructure, and then on its maintenance is saved, resulting in a decrease in the cash payable of the business. When the cash outflow is minimized it ultimately leads to maximization in company’s financial health.
  • When a business outsources its process or processes, they are usually outsourced to a location where the cost of labor is cheap and is more value driven. The same human resource on shore would cost business to pay substantially more cash compared to what a business would pay to an outsourcing company. Thus resulting in a decrease in cash out flow, consequently a better health of company financials.
  • The third scenario in which outsourcing can help business maximize its cash flow is in terms of the quality of product or services offered.  The outsourcing companies specialize in the services they offer, therefore when a business outsources one of its processes to a good outsourcing company, the experts at the company make sure that the customers are satisfied and more the customers are satisfied, more revenue would the business generate, resulting in a higher cash inflow.
  • Capital expenditure is a definite saving in case of outsourcing. Like if a business needs a telemarketing team on shore, it needs to have an infrastructure, hire employees, buy equipment, all of which would require capital. On the other hand, if the business decides to outsource the same process, it wont need to spend a dime in capital, all of the hiring and infrastructure will be managed by the outsourcing company, thus resulting in the business having more cash at hand, and an improved financial condition.

In a nutshell, small businesses that are already short on cash, and need to minimize their cash outflow, should turn towards outsourcing, to maximize their companies over all financial health.

Advantages A Good Outsourcing Company Can Bring Pertaining to Human Resource

The tough economic conditions of this era have made life harder for small businesses. Large corporations have the capital and resources that help them lead the market, on the other hand, small businesses have limited budget, and very few resources.

This ongoing situation of small businesses has given rise to the concept of outsourcing, where the business can hire a consulting firm, which will have the expertise to carry out the process of business off shore.  A good outsourcing company can provide many benefits to a small business, like low cost, no capital investment and saves the business from the trouble of constant monitoring. However, the greatest fruit of a good outsourcing company comes in the form of quality human resource.

In regards to human resource, a good outsourcing company will offer the following advantages:

Hiring:

Large corporations can afford to outsource whole of their processes, however, small businesses have small job descriptions, and therefore, they need employees that can fit in those descriptions. The solution of this problem is the new concept of outsourcing called “Virtual Assistant”.

A small business provides the outsourcing company with a job description, the company then finds the best suitable candidate for the job, and have the employer interview the candidate. After the interview, the employer can hire a dedicated employee to carry on the assigned tasks.

A good outsourcing company is rich in quality human resource. No matter whatever job description is provided by the client, they find a match for it. All this activity, takes the burden off from the employer, giving the employer time and space to emphasis on strategic matters.

Employee Retention:

A reputed outsourcing company comprises of excellent management. Once in contract with an outsourcing company, the employer needs not to worry about the retention of employees. It would be the job of outsourcing company to retain employees, for which the company can devise effective strategies. No matter whatever the situation be, an outsourcing company does not let the employer worry about the retention of employees.

Quality Human Resource:

The primary reason for availing the services of an outsourcing company is to get hold of quality human resource. The thing a business owner should be careful about is that, not every outsourcing company provides quality human resource, most even hide the true nature of the employees from the employers.

Only a good outsourcing company would be transparent in its procedures and provide the employer with true potential of the human resource. The employees of a good outsourcing company are expert in their field, with plenty of experience backing them up. Therefore, when a business outsources to a competent outsourcing company, it is assured that quality human resource would be carrying the process of the business, which ultimately would result in greater productivity for the business.

Bottom Line:

In short, a business before outsourcing any process, needs not to select any random outsourcing company, rather it should look for a good outsourcing company that provides, quality human resource, hires professionals, and does the best to retain them.