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Questions to Improve Your Business

Running any kind of business requires a lot of self-awareness and self-reflection. Self-awareness helps us use our strengths to their fullest potential and minimize our weaknesses, while self-reflection allows us to improve upon past mistakes. In order to tap into these two qualities and improve your business, ask yourself the following questions to focus your energy in all the right places.

What do I do best? Perhaps you have a unique way of making people feel comfortable, getting them to talk about themselves, and leaving a positive memorable impression on them. Harness your strengths into selling power for your business. Make it a point to chat up as many guests at a home party as possible, and conduct your networking opportunities face-to-face when you can. Whatever you happen to be good at, find a way of incorporating it into your business because you’re not just selling a product; you’re selling yourself.
What is my product’s best solution? The product or service you sell must be the solution to a customer’s problem. Most likely, it has several uses. Decide which is most valuable and desirable for consumers and emphasize it in your demonstration and marketing efforts. For example, your company’s line of educational books for children comes with a trade-in program for customers who make at least one purchase every six months. This solves the all too common problem of children’s rooms being overfilled with books they’ve outgrown. Such a unique and valuable solution to a problem plaguing most parents should definitely be one of the first things a customer learns about your product, as it sets it apart from competitors.
Where are most of my sales coming from? This applies to both your demographic and your method of sale. What is the profile of the customer who is buying the most? (Businesswomen between 25-45 years old, mothers of young children) How are those sales being made? (online, at a home show, through referrals) Analyzing your sales will help you maximize your marketing efforts so you get the greatest return on your investment. It will also reveal any dead-ends you may have been unknowingly pursuing.

You’ve asked the questions; now what do you do with the answers?

Make the best use of this information by creating an action plan. Set a goal (be specific with numbers and deadlines), create benchmarks, plan rewards for yourself, and map out your path to completing the goal. If your goal is to implement a target marketing campaign, use the information you have about your strengths to come up with a way to execute the plan. Identify the solutions your product provides in order to hook your target market, and plan sales methods that will reach them. Now your business approach is based on proven information about just a few elements which are essential to improving your business.

Being aware of yourself and being willing to reflect on past actions are two qualities that can make you a strong business owner. Remember to always be honest with yourself about the answers to these questions, and commit yourself to putting your action plan into effect. What questions do you think should be added to the list? Please share your ideas below!

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Why Price Doesn’t Matter

Whether you’re making a big purchase like a new car or a small one like a jar of baby food, there is a variety of factors to consider besides how much something costs. Like virtually all direct sellers, you really cannot control the price of your products, but successful salespeople know how to think like a customer. In doing so, you can showcase those other factors that most likely outweigh price.

The product is a solution to a problem. You’ve probably heard before that you should be educating your customer about the benefits of your product and how it can solve a problem. For example, a businessman who travels frequently wants to improve his diet, but finds it very difficult to do so on the go. Your company’s individually-sized protein powder packets can easily be mixed into a bottle of water and supplemented with whatever else he happens to be eating at the airport or in the hotel. This convenience may come with a higher price tag, but in this case, the benefits far outweigh the cost.
Present a good value. Customers are always in search of a good value. As a representative of this product, it’s up to you to know what the product’s overall value is and how to share that information with your customers. In the example above, the product offers convenience and nutrition, two things that contribute to its value. Find out what the customer is looking for, since value can be perceived differently by everyone. Aside from the protein powder’s nutrition and convenience, it also mixes well and pours easily out of the packet to eliminate messes; most people would rather pay a bit more for a product that suits their needs in so many ways. Everyone wants to get the most value out of a hard-earned dollar.
Know why you have a competitive edge. Knowing what your consumer wants and needs is important, but it’s also important to know what your competitors are offering. It’s not uncommon for a customer to say, “But the XYZ company has this same kind of thing for a lower price.” Such a statement can make or break the sale, depending on how prepared you are to respond. Your customer may not realize that the competitor offers an inferior guarantee or that its product is made from lower quality materials. Educate yourself about not only your product line, but also how your company competes with similar products and prices.
Offer peace of mind. Because there is some degree of risk involved in making any kind of purchase, you want to be the one to minimize that risk and offer peace of mind to your customer that he or she is making the right decision to buy from you. Of course you want to emphasize any guarantee policy that your company has in place, but you should also emphasize the quality of the product and your commitment to satisfying the customer. Let’s say at a home show, one of the guests is visiting the hostess from out of state and is worried about the hassle and cost of having to make a return or exchange. Offer to cover the postage and personally take her through the process if she needs to send something back. With someone’s biggest concern no longer an issue, the sale can easily be made.

The price of a product is only one of many factors that contribute to a customer’s decision to make a purchase. With a bit of research and preparation, you can be sure to overcome any obstacles you feel the price point has created when it comes to closing a sale. How do you show your customers that price doesn’t matter? Please share with us below!

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Leverage Your Productivity

Which would you rather do: spend two hours completing a task or get it done in 45 minutes? You may be spending more time than is necessary on various projects and day-to-day responsibilities for your business because you may not be working efficiently. Take a look at the list below to learn how you can make the most of your time and increase your productivity.

Find your best time of day. We all have a certain time of the day during which we are the most energized, motivated, and therefore productive. For example, if you’re a morning person, plan on tackling the most challenging of tasks as soon as you begin your day. Not only will you be able to make the most out of your peak time, but you will also be able to enjoy the remainder of your day much more because you already completed the hardest part. On the other hand, if you know you work best after lunch, make a point to eat something healthy and filling enough to give you the fuel you need to kick the next chunk of time into high gear. By identifying when you work best, you can plan your day around those times.
Focus on what makes you money. It isn’t difficult to side-tracked with several smaller tasks like answering emails, updating your Facebook status, and de-cluttering your filing cabinet. Although these are all things that need to be done regularly, when time is of the essence, pour your energy and attention into things that actually make you money. Call your referrals about hosting a party, book a meeting with a prospect to share your opportunity, or work on your demo for that upcoming vendor sale. Money-making activities should always be a top priority when creating your day’s agenda.
Keep a time journal. Whether your do it electronically or by hand, keeping a time journal can be a very helpful tool that you can use to improve your work habits. Document every activity for at least a full work week. Don’t forget to include snack breaks, time spent sending and receiving personal texts, and anything else that you think only take a second. Those “seconds” quickly add up, and by seeing in writing how you have been spending your time, you may realize that a change is in order. On the other hand, you may also find that you are generally good at tuning out distractions, but certain times of day are less productive for other reasons (less energy, something unexpected comes up). Analyze your time journal to further improve your good habits and eliminate bad ones.
Take advantage of what your upline has to offer. One of the great things about the direct selling industry is the access you have to people with experience and success doing exactly what you’re doing. Reach out to your upline to help you stay on task. Ask them for tips on staying focused, how they manage a typical day, and what strategies they have used to increase their own productivity. Your upline is a wonderful resource that can both help you directly or refer you to others who can. Do seek them out to help you make the most out of your day.

Leveraging your productivity requires knowledge of your own strengths and weaknesses, a willingness to reflect and adjust, and motivation to succeed. How do you leverage your productivity? Please share your ideas in the comments section below!

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Effective Sales Calls

Effective Sales Calls

Making sales calls are a necessary part of your business, though for many people, it is one of their least favorite things to do. We are sometimes hindered by a fear of rejection, but by implementing a few suggestions and preparing well, you will find your sales calls to be much more pleasant and effective.

Use referrals. When making your list of contacts, use your referrals as a starting point. You already have an opening when you make the call by telling the customer who referred you; this can even lead to a bit of small talk that will put the person at ease. For example, “Jane Woodson referred me to you. Our sons play on the same baseball team, and she mentioned that your son is on the team as well? How is he enjoying the season so far?” Using referrals can help you take a genuine interest in your contact, which will motivate them to listen to your pitch.
Offer a good value. This can be a bit tricky, as value is perceived differently by different people. However, as long as you are knowledgeable about the benefits of your product or service and how it compares to others, you will be able to demonstrate its value in ways other than price. For instance, if a product you carry has similar features to a competitors’ but is more expensive, point out that it is made from higher quality materials, that it comes with a lifetime guarantee, or that the customer can try it risk-free for 60 days. Whatever the incentive, always be clear in emphasizing a product’s value.
Provide solutions. Most consumers are seeking certain products that have a purpose in their lives. What solution does your product provide for a customer’s problem? Reflect on your own experiences to help you answer that question. One consultant for a jewelry company first fell in love with the product line because it allowed her to take her outfit from the office to an evening out by simply changing out one necklace for another or clipping an extra piece onto her bracelet to make it sparkle for her night out. This may not be a life-altering solution, but it is a common one that most women would love to know about. Be the answer to your customers’ problem.
Know your client. A client never wants to feel as if he or she is just a number on your list of calls to make. Tailor your calls to be specific to each person; this doesn’t mean that every single call will be different, but it does mean that you have done a certain amount of preparation for the call so that you can appeal to a client’s unique need. You wouldn’t have the same conversation with a repeat customer that you would have with a prospect you’ve never met or done business with. Take a few minutes to find out something about each contact before picking up the phone. Often that research can be done when receiving the referral.
Anticipate objections. Sometimes you will encounter one or more objections to what you are trying to sell. Before making a call, prepare a list of possible objections and decide how you will respond to each one. You will not be able to anticipate every possible objection, but having a good idea as to how you will handle them can be useful in helping you overcome objections and make the sale. The more prepared you are, the less likely you are to be caught off guard without knowing what to say.
Use scripts wisely. Writing a script is a great way to get started with sales calls. You can literally map out your ideal conversation, and then using the suggestions above, prepare yourself for the many different turns the conversation may take. One thing to be aware of, however, is not to sound like you are reading from a script which can sound extremely impersonal, and may cause a client to either tune out or cut the call short. Use the script as a guide only; know what you are going to say and speak in a natural, conversational tone.

Do you have any tips to share for making your sales calls more effective? Please share them with us below!

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Profile of an Easy Sale

Profile of an Easy Sale

Making a sale is not always easy. However, understanding these main points may help you convert more sales and make the process easier.

Identify the right product for the right client. You must define your target market and then make sure that your products/services are solving problems they have. Without this key element you will not make many sales.
Develop and cultivate relationships. If you have some kind of relationship with a prospect it will make it easier to approach them with your products/services. Done correctly, the sales pitch comes across more like helping out a friend. Make sure you are authentic, honest and providing a solution to your friend’s problem. A relationship built on trust and value will generate reorders.
Once you have a relationship with your prospect, find out what their likes and dislikes are. Understand what impresses the prospect. Do they focus on value, style, ease? Lead with that in your solution to their problem (sales pitch).
Finally, make the sales process quick, simple and easy. Your ability to do this will project professionalism and cause the prospect to perceive greater value in your products and services. And the next time he/she needs products/services like yours, he/she will go to you first.

Take a look at your current approach to selling. Do you follow these main points? How well are you implementing them? If you understand and apply these main points in this order, and take the time to do it correctly, in the long run you will generate more sales, reorders and make sales easier.

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DSEF & CBBB: Can You Get Rich Quickly By Flipping Houses?

By Holly Doering

This weekend, a company is coming to my town to hold a free seminar on “flipping” houses. According to our state’s Department of Labor & Industries, flipping is defined as owning a property for less than one year, making more than $500 in improvements, and selling the property with the intention of monetary gain.

The company in question has advertised in the past that you could earn between $3,000 and $10,000 a month with their program. Now they just say you’ll earn cash and build a massive residual income stream. It’s supposed to be pretty easy. Sound like a sweet deal?

Not so fast. Here’s the rest of the story:

1) While initial seminars are free, additional seminars cost $1,500. You’ll also be encouraged to invest in more training—up to $25,000.

2) Fox Business says that to make a living flipping houses, you’ll need to have at least half a dozen going at once. Other sources caution that flipping isn’t for the financially strapped—it requires cash reserves.

3) Even if you only flip one house per year, your state may consider you a “contractor,” which means you’ll need to be licensed, bonded, and insured with L&I. If the IRS considers you a “dealer-trader,” you’ll have to pay self-employment taxes.

4) This company has earned an F rating with the BBB, based on a government action alleging deceptive trade practices and consumer complaints reporting trouble canceling purchases and obtaining refunds. Always check the track records of companies atwww.bbb.org before doing business.

According to MSN Real Estate, house flipping is not as easy as it looks on TV. They report that on the original video of the A&E reality show “Flip This House,” there was even a warning stating “Do not try this at home. It’s for trained professionals. You will lose money.”

Making money in real estate is possible. But like anything else, it takes time and effort. If you attend a seminar like the one described above, ask a lot of questions and read contracts thoroughly before signing. (Make sure you get the exact name of the seminar you attended.) Understand any cancellation clauses or refund policies too.

DSEF and Council on Better Business Bureaus (CBBB) fosters honest and responsive relationships between businesses and consumers—instilling consumer confidence and advancing a trustworthy marketplace for all.

About the Better Business Bureaus
As the leader in advancing marketplace trust, Better Business Bureau is an unbiased non-profit organization that sets and upholds high standards for fair and honest business behavior. Every year, more than 87 million consumers rely on BBB Business Reviews® and BBB Wise Giving Reports® to help them find trustworthy businesses and charities across North America. Visitwww.bbb.org/us for more information.

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4 Rules for Business Growth

Do you remember running the 50-meter dash as a kid in gym class? The task was simple: run as fast as you can until you reach the end. Your direct sales business, however, requires a much different approach, one more similar to running the mile; you need endurance, stamina, and a view of the overall task in order to succeed. Growing your business should always be a super-objective you are striving to achieve to stay ahead of the competition, evolve with the industry, and know how to satisfy your customers’ needs. Read on for some suggestions to grow your business for the long haul.

Educate yourself on current trends. You should make it your business to always be aware of where the industry is headed; the last decade, for example, has found the direct selling industry rife with change. The focus has shifted from building face-to-face relationships exclusively to combining those efforts with building online relationships as well. In addition to this virtual internet takeover, the economy has also played a major role in how direct sellers operate their businesses. Did you know that an economic downturn can actually benefit the industry? Always do your research to stay on top of what is happening with the direct sales industry as a whole, not just your particular company.
Evaluate your ideas and seek improvement. This is especially true if you have been working your business for a long time. You most likely have some tried and true methods of marketing, demonstrating products, and recruiting prospects for your downline. Make sure you periodically self-evaluate what you’re doing and continually be on the lookout to better your own ideas. Get feedback from your upline, your customers, and your network. The best way to grow your business is to be a perpetual student; never stop learning.
Take calculated risks. Risk-taking is a necessary element to any business, but since you are ultimately responsible for the consequences, both good and bad, of those risks, really weigh the pros and cons before making the final decisions. When faced with a decision about your business, take into account not only the financial implications, but also those that may affect other aspects such as your reputation, adherence to your company’s policies, or your ability to provide top-quality customer service. While we certainly cannot look into a crystal ball, the key to risk-taking is to be educated enough to make an informed, well-thought out decision.
Brand and market yourself. You are likely one of thousands of direct sellers representing your company. What sets you apart from other consultants? What benefits would a customer reap by choosing to work with you instead of the representative across town? Focus your efforts on becoming an expert in your field, and market yourself as someone who is passionate not just about the products themselves, but what they can do for others. If your company sells products that are environmentally-friendly, your prospects and customers should know why this is such an important issue for you. What is your connection? Why did you choose to do this as your way of earning a living? Decide what makes you unique and begin building yourself into a brand to differentiate yourself from others.

A successful direct sales business is within your reach; look at the big picture, continue developing your talents and skills, and make informed decisions about where to focus your professional efforts. What are some tips you have to add to our list? Please share them with us below!

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6 Ideas to Increase Sales

Working as a direct seller requires you to wear many different hats: sales representative, party planner, marketing executive, administrative assistant, etc. It can be easy to get sidetracked with all of these responsibilities, so it’s important to remember that the bottom line of your business comes down to sales. Even if you have built a substantial downline, many direct sales companies require you to meet a minimum number in sales every month to earn your commission.

Here are some tips on how to increase sales.

Cross-selling is recommending related products that complement others that have already been purchased or are being purchased at the moment. Your customer is likely unfamiliar with your entire line of products, so introducing something that might be of interest based on past purchases can increase the amount of that sale. Using this technique repeatedly can quickly add up. For example, if a customer is buying a baby lotion that is specifically designed for sensitive skin, direct him/her to your company’s line of products that are hypoallergenic and free of unnecessary chemicals. Besides the lotion, the customer may wind up walking away with body wash, diaper cream, and sunscreen as well. As an added bonus, you’ve also demonstrated your attention to the customer’s specific needs, which will make him or her want to buy from you again.
Best value quick sale is offering products/services that give customers the best value for their money and are ready for immediate delivery. Especially for new customers, this will establish that you’ll sell them products/services of high quality at a reasonable price, and give them instant gratification.
Business referral exchange program. By partnering or teaming up with other businesses or consultants in your area, you not only generate more brand exposure, but increase sales. Create relationships with other businesses that compliment your products/services where you recommend each other’s services/products and may consider offering special promotions for each other’s products/services to your customers.
Personalize appointments by offering to meet with people face to face and set up private appointment. It gives you a chance to be more social, develop a relationship and explain the advantages of your products/services related to the customer’s needs.
Create contests or promotions to market your products. Whether your company has a featured product for the month or if you have some excess inventory you’d like to unload, contests are a fun and effective way to draw attention to certain products and make them stand out from the rest. With spring almost over and summer close upon us, it might be a good idea to get a jumpstart on your summer-related products with a raffle. For every dollar your customers spend on beachwear in the month of May, for example, they will receive one entry into a drawing for a family-sized beach tote filled with goodies for the kids to enjoy while playing in the sand this summer on vacation. Specific promotions like these allow you to control what products are highlighted, draw focus to featured items, and give customers the opportunity to purchase something now that they may have held off on by offering them a fun incentive.
Reward your customers by implementing a referral program. In direct sales, word-of-mouth goes a long way, especially when there is a lot of competition. Make sure you have some way of learning how each new customer found you: you could ask them when making a transaction face-to-face, create a space for it on your order form, make it a question on a post-purchase web survey, etc. Every time a customer refers you to someone who in turn becomes a customer, reward the original customer to show your appreciation. Some consultants make their own rewards cards a la Subway, while others give away vouchers, coupons, or free gifts. Whatever you decide, make sure you always follow through and that your customers, especially the new ones, know that such a rewards program exists.

Increasing sales requires planning, creativity, and knowledge of your company’s product line. Focusing on your existing customers is a great place to start, and always make sure they know that you appreciate their patronage and that you will always do your best to make them satisfied and happy they chose you.

What other ideas do you have to increase sales? Please share them in the comments section below!

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Creating Additional Income Streams For Your Business

As an entrepreneur, you’re always looking for ways to increase sales and diversify your opportunities. The business world is unpredictable, but especially in times like these, having the security of an alternate income can be a lifesaver if for some reason you experience a lull in business. Fortunately, there are many ways to create additional income without having to shell out any kind of significant investment.

Teaching, coaching, and consulting are all great ways to bring in some extra cash. All you need to invest is your time, which you’ll use to reach out and offer your services, as well as time you’ll need to prepare a presentation of some kind. If teaching interests you, reach out to local community colleges, libraries, or recreation centers with an idea for a class, workshop, or seminar. Create multiple sessions and offer prospective students a package deal. If teaching isn’t your thing, you might be more comfortable with one-on-one coaching or consulting. Using your skills and experience, you undoubtedly have a lot to offer someone who is just starting out in small business ownership or something else related to your field. The possibilities are limited only by what you’re willing to do, and the result can be very profitable.
Start a blog. Writing a blog can be an effective way to share your expertise with others, market your business, and attract more customers. You don’t have to limit yourself to blogging; create a website that includes how-to videos, customer testimonials, or even guest posts from other industry experts. Earning money as a result of online content can take some time, but the potential for it paying off is certainly achievable.
Listen to what your customers want. Take the initiative by asking your own customers as well as others in your network about what other services/products they would like to see. For example, if you’re in the business of creating gift baskets, ask your customers what other service/product they would like to see. A customer might suggest fun gift baskets for kids. This might be an idea worth exploring. Ideas from customers are often your best source of creating an additional income stream.
Explore your other interests and skills. Make a list of all your hobbies, as well as all the things you do around the home, for your kids and through volunteer work. For example, you might list doing pedicures with your daughters. Since you sell cosmetics, this might become a service you offer. Or besides selling kitchenware, you also love healthy cooking and you might sell an easy to follow healthy cooking program. You want to look for things that compliment what you are doing now and other interests and skills you possess.
Other ideas to explore.
- Create your own How-To-Videos
- Sell other services that compliment your current business
- Personalization services – gift wrapping, sewing, special delivery
- Create partnership with local businesses

With some effort and extra time, you have the ability to find additional sources of income. This revenue can help you get through a slow season or simply help you reach your personal and professional financial goals faster (not to mention expanding your contact list for your primary business!) What other ways can you create alternate streams of income? Please share with us below!

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Finding Confidence

There are so many different factors that contribute to success in your direct sales business, but one of the most important is the confidence you project to others. Because your business functions on the relationships you build with others, your customers must know that you are the right person for the job. When you truly believe that you’re great at what you do, then your customers will know it too.

Practice makes perfect. If you lack confidence in your sales presentation for example, improving yourself can be as simple as practicing. Start by making your presentation in front of the mirror, and then move on to your kids’ stuffed animals. When you start feeling better about what you’re doing, get up in front of a few close family members to continue rehearsing. For the truly brave and ambitious, consider recording yourself on video. Watch it back and take notes on what you’d like to improve as well as where you excelled. This will give you a more accurate perspective on how others perceive you and will also allow you to pinpoint areas of strength and weakness.
Find a mentor. The mentor relationship can be extremely beneficial for both the mentor and protégé. The first place to look is to your upline, most likely the person who brought you into the business. If that person is unavailable, he or she can connect you with other experienced and successful direct sales consultants either within your company or others that can help increase your self-esteem through pep talks, professional development opportunities, networking events, etc. It may be a good idea to observe your mentor in action. If the person is always at the top of list in sales every month, ask him or her to take you along to a sales presentation or home party. You may come away from the experience with some fresh ideas that you can apply to your own method. The key to an effective mentor relationship is having someone that you trust and respect.
Find a partner. A partner, unlike a mentor, doesn’t have to be someone involved in the business. Sometimes the best partners are people already in our lives that can act as our personal cheerleaders. A close friend or relative that can share joy in your accomplishments and bolster your self-esteem after rejection would make a great partner. Identify first what you want and need in a partner and share your ideas with that person. It never hurts to have someone who you know will be in your corner no matter what.
Dress for success. This may seem obvious, but when we are self-conscious about the way we look, it affects our entire being; this lack of confidence can be sensed by others. Make sure when you leave the house for a sales demo or training event, for example, you are wearing something that makes you feel good. It should fit you well, be appropriate for the event (not to casual and not too dressy), and be put together with appropriate accessories and hair style. A put-together look exudes professionalism, competence, and of course confidence.

How do you find confidence within yourself? Does it increase your success? Please share your ideas with us in the comments section below!