All posts tagged direct sales

Home direct sales Page 6
Blog

Tips for Taking Control of Your Business Finances

Tips for Taking Control of Your Business Finances

Tips for Taking Control of Your Business Finances from http://dsef.orgAs a business owner, your ability to manage the money you earn is just as, or even more important than actually making the money. Are you using your money wisely, or simply wasting it? Here are some tips for taking control of your finances and keeping more of what you earn:

  1. Write it Down: Even when it seems like a pain, or just one more thing to do, writing down the money that you earn in your business, and the money that you spend, is a valuable activity. When you see your income and expenses in black and white, it helps you make better decisions, and identify areas of waste. Use this simple spreadsheet: Business Income_Expenses Tracker, or your own method to track your income and expenses for your business. And the best part? By keeping track of your income and expenses daily or weekly, preparing your taxes is a lot easier!
  2. Know Your Averages: When you earn income based on commission, it can seem like a challenge to create and stick to a budget. But it doesn’t have to be! Find out what the averages are for your business: Average party sales, average you spend on a party, average sale per person, average autoship order, average downline commissions per downline member, etc. Then add up the number of income-producing activities you’re expecting to do each month, and use the average amount you can earn for each one. That gives you the total amount of money you have that month to work with. For example, if you can earn $120 per average party in your company and typically spend $20 per party on expenses (printing, gas, prizes, postage, etc.), and you have 4 parties scheduled that month, you can budget $400 for the month in party income. By knowing what you have on your calendar, you can create a monthly budget. And if something unexpected happens, you know exactly what you need to add to your calendar to reach your budgeted numbers.
  3. Make a Budget: It’s very easy to impulse buy. The latest gadget is awfully tempting, and you know that marketing tool is just the thing to bring in more business. But before jumping in, make sure you’ve got the income to support the purchase. Plan your monthly income and expenses first using a budget sheet like this one: Direct Sales Business Budget Worksheet Then you’ll know how much your business can support in expenses, and if the return is worth the investment.

How well do you know how to manage your personal and business finances? Take this online quiz to find out how much you know! http://dsef.org/what-we-do/consumer-initiative/womens-money-quiz/

Nevada Women's Money Conference Flyer from http://dsef.orgKnowing how to manage your business finances is key to creating the income you want in your direct sales business. That’s why we’re excited to partner with the Women’s Money Conference in Nevada to provide FREE full scholarships for women in DSA member companies to attend the conference. If you’re a woman in Nevada, or know a direct seller who is, get all the details on this 2014 conference here: http://www.womensmoney.org/speakers-and-agenda

What tips do you have for managing your business finances? We’d love to read your tips in the comments below!

Blog

Three Ways to Close the Deal

Three Ways to Close the Deal

Low angle view of two business executives shaking handsSo you’ve gotten that sales meeting, prepared for each possible scenario, made friendly conversation, and have conveyed your ideas and pitch to the best of your ability. Your job is not finished yet, however, because you still need to close the deal. This, for the majority of people in sales, is the most difficult part of the business. The key to successfully closing a deal is to be proactive about why a person may say no and to eliminate his or her reasons for doing so. Here are three techniques to help you close more sales

  • Understand hesitation and address it by solving the problem. From your point of view, there is no reason to hesitate. You know what a great value you are providing and have no reason to doubt yourself. So put yourself in the other person’s shoes. If you can understand the reason why they may be hesitant, you can deal with it head on, and may be able to overcome the objection altogether by demonstrating how your product or service can solve a problem. For example, a hair stylist and colorist operates her own business doing her clients’ hair in the privacy of their own homes. She is offering new and current customers a package for purchase in which they can have monthly coloring touch-ups, all paid for in advance. While pitching this service, a prospective customer seems hesitant to pay for services that wouldn’t be rendered for months into the future. The stylist validates this concern, and also points out that because customers wait too long in between coloring treatments, the service takes longer and costs more. So by having monthly touch-ups, money would be saved in the long run and hair color would always be properly maintained. She winds up closing the deal because she did not dismiss the client’s concern, but rather confirmed it and then followed up with a solution to the problem.
  • Fine tune your market and focus on a niche. In an effort to cast a wide net and appeal to as many customers as possible, you could be missing out on success within a niche. The hair stylist mentioned above certainly provides services that likely appeal to a broad range of people, but because she makes house calls and provides a monthly touch-up service, she focuses mostly on working mothers over age 35. This population of women have several things in common that make the stylist a valuable asset to their lives: they’ve started coloring their hair to cover up grays, they need to maintain a professional appearance, their work schedule is too demanding to regularly visit the salon,and when they are not working, they need to be home to care for their children, so an in-home appointment is most convenient. Knowing her target market allows the stylist to put the most time, money, and energy into attracting clients in this population for increased success. Think about a niche that might be most interested in what you have to offer, and come up with ways to specifically appeal to the needs of this market.
  • Take the focus off business/sales and make it fun. More and more companies are looking to gamification to attract new clients. Consider simple ways to incorporate more fun into a sales pitch or other type of client meeting. For example, to educate potential clients about your product or service, consider a mini-trivia game in which your prospect guesses the correct answers for a small prize. Use whatever fits the situation and personalities of those involved, such as music, video, gaming, comedy, etc. A sales meeting should not be an unpleasant experience for either party, so by making it fun, you are increasing your chances of closing the deal. However, be sure to balance fun with the professionalism needed for the situation.

Closing the deal requires that you understand the needs of the customer, and then highlight how your products or services meet that need. Remember to always be honest, and let the strengths of what you have to offer and your enthusiasm shine through. When the customer understands how your product or service fits their situation, and trusts that you have their best interests at heart, you are more likely to close the deal.

What tips do you have for closing the deal? Please share them below!

Blog

Five Things You Should Do Every Week to Build Momentum

Five Things You Should Do Every Week to Build Momentum

cheerupYour business should be in constant motion, moving forward all the time. If this does not happen, your business becomes static and can eventually fizzle. In order to build momentum consistently, you can do a few simple things that maintain your progress and renew your motivation. Start with this list to continue moving your business forward.

  • Connect and follow up socially. Schedule some time during each week when you review your contacts. Connect with those you haven’t corresponded with lately, and follow up with those you may have been playing phone tag with. When appropriate, arrange a social visit with contacts such as a lunch meeting or play date with your children. Interacting with contacts in a way that isn’t always about business will help you stay in touch and will make it easier to reach out to them professionally when the opportunity arises.
  • Assess and reflect. Don’t let too much time go by in between assessments of your business. Consider taking a look at a different aspect of your business each week. For example, this week will be devoted to assessing the quality of your customer service, while next week’s focus will be your social media presence. Reflect on each element by considering what works and what doesn’t, or what could use improvement.
  • Make adjustments. Using your findings from these weekly assessments, make the necessary adjustments. If you find that your Facebook page has lots of activity, but your blog is getting very few hits because you don’t post often enough, adjust your writing and sharing schedule to fix the problem. There is no need to tackle too much at once; remember that these assessments and adjustments should happen on a weekly or even monthly basis.  If you don’t finish or get too overwhelmed, put it aside and continue the work next week.
  • Network with influencers and mentors, and partner with others. Reach out to the people who have helped make your business possible. Network with them by asking for referrals or initiating a mutually beneficial partnership. One boutique owner was strongly influenced to start up her business by an old college friend who runs a successful weight loss/nutrition center. A good idea would be for the two of them to hold a joint promotional event where current and prospective customers can find services to complement ones they are already using. These opportunities can’t happen without frequent networking.
  • Be sociable. Make it a point to socialize with others whenever the chance occurs. Be friendly, ask questions to learn about others, listen carefully, and show that you truly care. It’s easy to get so caught up in our own work environment that we don’t take the time to venture out socially often enough. Give yourself this time at least once a week.

By working these momentum building activities into your weekly schedule, you are maintaining a successful business and taking steps to move it forward. How do you build momentum for your business? Please share your ideas below!

To get your free copy of the eBook, click here: 15 Days to Greater Success. You can download it from our Facebook Page. And while you’re there, you can download our other free eBooks too: Business Owner’s Road Map to Success, Creating Your Success Mindset, and Reflections on Success. They’re all designed to give you an edge in your business, and help you focus on the daily practices that lead to your goals.

Please share this link with the business owners you know: http://on.fb.me/VHcVB3

Blog

Three Ideas to Maximize Your Marketing

Three Ideas to Maximize Your Marketing

beprepareAs a small business owner, marketing is one of the most important things you do to keep your business growing. Don’t rely on guess work and speculation when putting together a marketing strategy; with thorough preparation, you can spend your marketing dollars wisely and get the best return possible on your investment. Here are three ways to maximize your marketing budget and efforts.

  1. Do research on clients first, and then use targeted ads and personal messaging. You should know exactly who is patronizing your business. Create a detailed profile of your typical client, including economic and social demographics. The more specifics you include, the better able you’ll be to target your efforts toward your intended audience. Once you’ve researched your clientele, create ads targeted to that specific population. Reach out to prospects on social networks with a professional message that peaks their interest in your business. For example, an independent nutritionist and mother of four, “Cheryl,” seeks to attract clients much like herself: busy moms who want to provide healthy and convenient meals for themselves and their families. She finds that most of her clients are working moms who have the extra income to spend on such a service, so she targets her ads to this population. To maximize this strategy, she also reaches out to certain personal contacts on her Facebook page, specifically people who have posted status updates about starting a new diet or workout regimen. By researching her clientele, Cheryl can focus her time and money in places where they will not be wasted.
  2. Promote the value of what you are selling. The best way to promote value is to emphasize the versatility of a product or service and how it is the solution to a problem.  Cheryl the nutritionist knows that her services can be costly, but in her marketing, she stresses the value of modeling a healthy lifestyle and instilling lifelong healthy eating habits in our children. She offers a sample grocery list to show potential clients how they can actually save money at the grocery store by buying fresh produce to make multiple meals that are easy to cook and will last the week. Her goal is for clients to see the value of a good education about what we put in our bodies. When it comes to our children, it’s a safe bet that most people will do whatever they can to establish good nutrition.
  3. Be social, fun, and unexpected. Don’t make the mistake of relying on electronic and print ads to connect with your potential customers. Socialize in person and tap into your fun, spontaneous side. Cheryl threw a party to welcome a new neighbor to her street, and provided snacks and a meal from her personalized menu. Anytime someone complimented her on the food, she had an open introduction to point out how easy it was to prepare and how nutritious it was. Find ways to incorporate some personal flair into your business.

The goal for any marketing campaign is to spend your money wisely so as to increase revenue as much as possible. Research your clientele, focus on value, and have fun with it.

What other ideas would you add to our list? Please share them in the comments section below!

Blog

How to Make Your Business More Fun

How to Make Your Business More Fun

How to Make Your Business More Fun from http://dsef.orgLet’s face it…we’re more likely to spend time on things we enjoy. And when you’re your own boss, a fun business is one that’s going to be something you look forward to working at daily.

Do you consider your business fun? Could you add some fun to your business? We turned to our very smart Facebook community of business owners (have you Liked us yet?) and asked them what advice they would give to someone that wanted to add more fun. Here’s what they shared:

  • Aim for excellence, not perfection. Often we stress ourselves out about our business because we’re so focused on trying to make everything perfect. But as Patricia Collette in Ontario advises, “Just relax and you don’t have to remember every detail about the business. Nobody will know if you forgot to tell them something or not .” And as Cimberly Melbye says, “Never take yourself too seriously.” Good advice.
  • Run fun campaigns that make people smile. Lisa Balthaser of Pennsylvania and Michelle Lersch of Florida both run contests that their customers love! And Lisa Hall-Wieser of Pennsylvania suggests, “Have theme parties like girls night in or a pajama party!” What fun!
  • Make sure you love what you have to offer. Tavia Stiegler of Maryland says, “You must be in a business that you personally LOVE the products or services. Otherwise it’ll be hard to be excited about what you’re doing.” If you don’t love what you offer and what it does for people, maybe it’s time to make a change.
  • Integrate your business into other activities you love. Dawn DeSario of Massachusetts advises, “When you love what you do, you will automatically have FUN!! Add more enjoyable activities into your work day..have more “coffee dates,” “lunch dates,” do some fun trainings, shop for some new fashionable business clothes while on the lookout for potential business. Shop for fashion jewelry, or have a “spa-day.” We need to look professional so have fun with it!! There is SO much to do to increase the FUN-Factor!!! Have Fun with that!!

We love these ideas, and they’re sure to make a business more fun! What would you add? How do you add fun to your business? We’d love to read your thoughts in the comments below!

Blog

Seven Ways to Energize Your Business

Seven Ways to Energize Your Business

atargetWhen you have been doing something for a long time, it’s easy to become stuck in a rut. Routine is comforting, but it also has its downside. Sticking with the same routine for too long can cause you to become complacent and stop you from seeking continual improvement. In times like these, it is important to energize your business. Review the list below to find ways to refocus your efforts and keep your business on the path to success.

  • Establish priorities. There are likely many projects you’d like to tackle or new policies/products/protocols you’d like to implement. Getting started can be an overwhelming endeavor because it can be difficult to know where to begin. Establish your priorities by making a comprehensive list of everything you would ideally like to accomplish. Once the list is complete, choose one or two things that you can get started on right away. Choose wisely; what can be of most benefit to your business immediately? Prioritizing a list like this takes the stress off and allows you to focus on one thing at a time with the comfort of knowing where you will go from here.
  • Be as efficient as possible. For example, if you are in the midst of a project and have to stop to email a colleague for more information in order to continue, don’t waste the time you have waiting for the response. It’s tempting to take those few minutes to browse your Twitter feed or whittle the time away on Pinterest. Instead of giving into distractions, keep a running list of other tasks that you can work on. Is there a prospect that you could follow up with? A filing cabinet that could use some organizing? Although it is important to work in some down time, it is just as imperative that you maximize your time by working efficiently.
  • Combine your work with different areas of your life. This isn’t always possible, but when it is, build your life around your work. If there is a weekend-long industry convention you’d like to attend, consider making it a long weekend and taking your family with you. This way, you can attend the workshops and get in some networking. Once your work is finished, you have a day or two to enjoy the area with your family. When you can do this, you are less likely to feel pulled away from your home life by work and vice versa.
  • Actively manage your time and stop wasting it. For some, this comes easily. For others, it’s a constant struggle. If necessary, make a daily or weekly agenda for yourself. Expect to not be able to stick to every scheduled minute, but with a basic outline of how you want to spend your time, you’ll be better able to stay on track.
  • Commit to learning new things. Professional development is an investment of both money and time into your business. Without continuing your learning, you are missing out on what could be valuable tools to run your business successfully. It doesn’t always have to be a formal workshop or convention either; commit to listening to an industry expert’s audio book once a month or reading some small business blogs once or twice a week. Always be on the lookout for new learning opportunities. These will keep your ideas fresh and your business moving forward.
  • Don’t sweat the small stuff. There are going to be many bumps in the road, but learn how to cope with minor inconveniences in a different way from how you cope with major setbacks. The more you let the small things roll off your back, the easier it will be for you to handle major decisions and more important stressors.
  • Laugh more. Hopefully, you enjoy what you do. Take the time to be grateful for what you have built, enjoy the people you do business with, and laugh when something is funny! Finding the humor in everyday life makes for a happier person.

How have you gotten yourself out of a rut and energized your business? Please share your ideas below!

Blog / Contest

NCPW 2013 Contest Winners

NCPW 2013 Contest Winners

NCPW2013_285x285A big thank you to everyone who participated to make National Consumer Protection Week 2013 our best celebration yet! From folks that put together amazing, free consumer protection resources, to the companies that donated prizes, to all of you who entered, it’s been a great week dedicated to helping people make better decisions as consumers and business owners.

Comments from You

We’ve had comments from you like:

“I love the Wifi protection article. I don’t think many people realize how easy it is for hackers to get into your wifi devices.” ~ Sunny Downes

“I found the Five Tips for Safe Mobile Banking interesting – it is something I have been thinking of starting to use!” ~ Traci Rasmussen

“I found the article about the 4% charge on credit/ debit cards. I never noticed till last week when I was in at KFC that I was charged a different price. When asked she pointed to a sign smaller than a business card. WOW” ~ Lindsey Duprel

“I love the Money Wi$e portion and the Free Ebook…that I share with everyone I know! lol…

Thanks for being there…I really love everything about the DSEF so many great tips and tricks that I share on a daily basis with my team!!

xo” ~ DivaVal

Donating Companies

A big thank you to all the direct selling companies that provided prizes this week. They clearly demonstrated the commitment the direct sales industry has for consumer protection:

Winners

Congratulations to our winners this week! We gave away a collection of more than 20 products each day from the companies above. Our winners are:

  • Monday: Sue Williams
  • Tuesday: Dawn Mulvey
  • Wednesday: Jennifer Hartman
  • Thursday: Kimberly Allar
  • Friday: Lindsey Pierce
iPad Mini donated by Nu Skin for our National Consumer Protection Week 2013 contest at http://dsef.org

iPad Mini donated by Nu Skin for our National Consumer Protection Week 2013 contest at http://dsef.org

And thanks to Nu Skin, we also gave away an iPad Mini this week. The winner was selected at random from the nearly 1,000 entries we received this week.

And the winner of the iPad Mini is…

  • Alice Andreat

Congratulations to everyone who won. And please continue to take advantage of the consumer protection resources we’ve provided on this page. There are a ton of them! We are committed to making sure you can find the consumer protection information you need to make the best possible choices for your business and family.

Blog / Contest

National Consumer Protection Week 2013, and a Contest (Day 5)!

National Consumer Protection Week 2013, and a Contest (Day 5)!

NCPW2013_285x285It’s the 5th and final day of our National Consumer Protection Week (NCPW) celebration! We’ve already given away four gorgeous Initials, Inc. bags stuffed full of amazing products from direct selling companies, and today we’re giving away one more! We’ve also been highlighting some of the amazing resources available on the web to help you make informed choices as a consumer and business owner.

Each day this week, we’ve posted a question. Use the NCPW resources we’ve provided to answer the question, and you’ll be entered to win an amazing (and gorgeous!) bag full of products from a number of companies in the direct sales industry. We’ve provided some bonus entry options as well.

You can win this iPad at http://dsef.orgAnd thanks to a generous donation from Nu Skin, we’ll also be drawing the name of one winner from among all entries this week to win an iPad mini!

 

Prize Details

Win this bag full of products from direct selling companies in today’s NCPW contest! (Prizes may be slightly different than those pictured, and there are more than those shown!)

Win this bag full of products from direct selling companies in today’s NCPW contest! (Prizes may be slightly different than those pictured, and there are more than those shown!)

Today’s winner will receive a beautiful bag full of products, including:

How to Enter

Simply leave a comment answering today’s question: We’d love to know…which of the resources on our NCPW Resources Page was your favorite? (Here’s the link to our NCPW resources page – Opens in a separate window)

p.s. Please be sure you actually leave a comment in the comment box below the Rafflecopter widget (don’t just click the button on the widget!). If we can’t find your comment, you can’t win!

Congratulations to Friday’s gift basket winner, Lindsey Pierce!

Our iPad winner is Alice Andreat. Congratulations!

Thanks to everyone for playing! We hope you had fun, and found some great resources!

Click here to see all of this week’s winners: http://dsef.org/2013/03/09/ncpw-2013-contest-winners/

* Contest is open to residents of the US and Canada, ages 18 and older. Final winners will be announced tomorrow (Saturday) morning at 9am!

Good luck, and don’t forget to tell your friends!

Blog / Contest

National Consumer Protection Week, and a Contest (Day 4)!

National Consumer Protection Week, and a Contest (Day 4)!

NCPW2013_285x285It’s day 4 of National Consumer Protection Week (NCPW), and the fun continues! We’ve already given away three gorgeous Initials, Inc. bags stuffed full of amazing products from direct selling companies, and today we’re giving away another one! We’ve also been highlighting some of the amazing resources available on the web to help you make informed choices as a consumer and business owner.

Each day this week, we’ll post a question. Use the NCPW resources we’ve provided to answer the question, and you’ll be entered to win an amazing (and gorgeous!) bag full of products from a number of companies in the direct sales industry. We’ve provided some bonus entry options as well. We’re giving away a bag stuffed full of amazing products each day, so be sure to come back each day to enter!

You can win this iPad at http://dsef.orgUPDATE! This Just In!

Thanks to a generous donation from Nu Skin, on Friday we are going to draw one name from all of this week’s entries to win an iPad mini!!! You can enter each day, so the more days you enter, the more chances you have to win!

 

Prize Details

Today’s winner will receive a beautiful bag full of products, including:

All entries will also be entered into the drawing on Friday to win an iPad mini, donated by Nu Skin.

How to Enter

Simply leave a comment answering today’s question: What’s the difference between an extended warranty and a service contract? (Find the link to the answer on our NCPW resources page! – Opens in a separate window)

p.s. Please be sure you actually leave a comment in the comment box below the Rafflecopter widget (don’t just click the button on the widget!). If we can’t find your comment, you can’t win!

UPDATE: Congratulations to Kimberly Allar, the winner of Thursday’s drawing!

Click here to see all of this week’s winners: http://dsef.org/2013/03/09/ncpw-2013-contest-winners/

* Contest is open to residents of the US and Canada, ages 18 and older.

Good luck, and don’t forget to tell your friends!

Blog / Contest

National Consumer Protection Week 2013, and a Contest (Day 3)!

National Consumer Protection Week 2013, and a Contest (Day 3)!

NCPW2013_285x285It’s day 3 of National Consumer Protection Week (NCPW) and we’ve already given away two gorgeous Initials, Inc. bags stuffed full of amazing products from direct selling companies! We’ve also been highlighting some of the amazing resources available on the web to help you make informed choices as a consumer and business owner.

Each day this week, we’ll post a question. Use the NCPW resources we’ve provided to answer the question, and you’ll be entered to win an amazing (and gorgeous!) bag full of products from a number of companies in the direct sales industry. We’ve provided some bonus entry options as well.

We’re giving away a bag stuffed full of amazing products each day, so be sure to come back each day to enter!

ipad_TransparentUPDATE! This Just In!

Thanks to a generous donation from Nu Skin, on Friday we are going to draw one name from all of this week’s entries to win an iPad!!! You can enter each day, so the more days you enter, the more chances you have to win!

Prize Details

Today’s winner will receive a beautiful bag full of products, including:

All entries will also be entered into the drawing on Friday to win an iPad, donated by NuSkin.

How to Enter

Simply leave a comment answering today’s question: What is one way you can keep yourself safe when using mobile banking services? (Find the link to the answer on our NCPW resources page! – Opens in a separate window)

UPDATE: Congratulations to Jennifer Hartman, who won Wednesday’s drawing!

Click here to see all of this week’s winners: http://dsef.org/2013/03/09/ncpw-2013-contest-winners/

* Contest is open to residents of the US and Canada, ages 18 and older.

Good luck, and don’t forget to tell your friends!