Hiring the Right Sales Person for Your Company

2 06 2011

Hiring the right sales person can be a difficult business decision.  Not only do you want to get the best person for the job, you want the best person for selling your product.  Hiring sale people can be difficult because if they are good at what they do they will be selling themselves to you in their interview.  There are different angles to be considered before hiring a new sales representative.

Hiring sales people already in your industry has its advantages and disadvantages.  Some of the advantages are that sales people within your industry are already familiar with how to sell to your customer base.  It can also reduce the cost and time of hiring and training new employees.  Sometimes hiring people already in your field may expand sales by acquiring the new contacts.

However, there are disadvantages to hiring sales people within your industry.  People already in the industry might not be the best candidates to choose from.  If someone is looking for a new sales position within the same industry there is a reason.  Usually these people are at the bottom percentage of the sales ranks.  Remember that every sales group is different, even within the same industry.  Your company might require different skill sets than what your new sales person learned from their previous company.

Hiring from outside your industry can be an excellent choice to avoid some of the problems listed above.  There are a few things to keep in mind when looking for sales people new to your industry.  Look for people who have job skills that are clearly defined and have worked within standard sales dealings that aren’t industry specific.  Remember that a good sales person is responsive to the customer.  By predicting the purchasing patterns of your customers, it shouldn’t be difficult to find related industries where the sales people are trained in a way that making the switch in industry will not affect their selling skills.  Finally, look for skill not just a degree.  Ask the prospective sales employee about their numbers from previous jobs.  Remember that perseverance and drive are not things that can be learned in school.

Remember when hiring a new sales person to keep in mind their persuasiveness and selling points.  You want to hire the best person for the job and your company, but you need to make sure they will fit into your company culture.  Just because people have sales in your industry does not necessarily mean they will be the best candidate for the job.

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Communicating to Influence

26 05 2011

Communication skills are an essential part to influencing others.  In order to encourage prospective clients, your boss, or even your coworkers, that your thoughts and ideas are important, a number of aspects need to be considered when communicating.  Most of human interactions are nonverbal.  Here are some tips for consciously improving your communication. 

1.  Body Language and Tone of Voice:

Your mood is visible through your voice and posture.  When you are feeling good, your speech tends to be more animated and you appear more confident in your self and therefore your message.  To appear more confident even when feeling blue make a conscious effort to animate your voice and raise your posture.    

2. Bad or Distracting Habits:

Nervous habits can be distracting and therefore detrimental to your message.  Things such as finger fidgeting, touching your face or hair, or jangling coins in your pockets all are distracting attention away from your message.

3. Be an Active Listener:

If you can listen and interpret what your listener really wants, you will be able to arrange your words in a way that fits to his or her needs.

4. Be Confident but NOT Arrogant:

You want to come across strong and confident. You want to be confident that you know your message, but overconfidence can come across as egotistical.  Pay attention to your vocabulary and energy levels during your presentation to avoid crossing this line.

There are many aspects of communication.  Learning and adapting your communication style is an important step in enhancing your influence over people.  Verbal and non verbal communication can either make or break your message.





Small Business Loans for 2011 Unlikely: Businesses turn to Collections for Cash

3 12 2010

Cash is needed in order for any business to operate.  In the past it was easier for Banks to lend money in order for the business to continue operating but since banks have tightened up giving loans to small businesses, many have been forced to max out their credit cards carrying further debt into 2011. Businesses will continue to need economic relief. The question is “where will it come from?”

 

Fico claims that banks as Lenders may not be able to meet the credit demands of small businesses seeking relief in the future.  59% of those surveyed expect small businesses to request a higher amount of credit over the next six months, but less than 37% expect lenders to increase the amount of credit given to those small businesses.

 

According to Standard & Poor’s Data, only four companies last month received leveraged loan covenant relief for a total of $883 million in leveraged loans.  This is the lowest amount of relief given since February 2008.

 

S&P expects covenant relief activity to be high in the beginning of 2011 as checks due to lender agreements from 2008 and 2009 are paid.  But as the year goes on, businesses may not be able to get relief from banks.

 

Until problems in mortgage portfolios are solved and private sector employment grows, the gap between credit demand and credit supply is unlikely to close. Along with this, the number of failing banks is increasing as well.  In 2010, 141 banks failed, making it the worst year ever, and this list is expected to continue to grow.

 

With banks unable to loan money, small businesses will seek other ways to generate cash to operate.  THERE IS A SOLUTION.  Businesses can rely on Commercial Collections professionals to recoup lost cash flow from customers who have not paid. Although times continue to be hard professional B2B collection agencies have the tools, the staff and the expertise to put your receivables on the TOP of their bills to be paid.

 

Caine & Weiner reported that out of the businesses surveyed, 57.5% plan to place accounts for collection in order to generate cash and the sooner the better. Credit and Collection managers also plan to reduce credit lines given to clients and to initiate collection sooner in order to protect their accounts receivables and generate money as banks are unable to offer financial relief in the upcoming year.

 

The bottom line is that businesses can no longer continue to be their customer’s bank and CFO’s; Controllers and Credit Managers must be more proactive in 2011. It can be argued that revenue generation is the most critical function of a company.  However, that revenue must be converted into cash.  Cash is the lifeblood of any company.  Every dollar of a company’s receivable must be managed and collected.





Smart Questions to Ask A Corporate Collection Agency

24 09 2010

A collection agency can become an important partner for any business in helping to recoup debts owed the business from past due clients when all other attempts and options have proved futile. Because the collection agency your business hires is in effect representing you, there are several smart questions to ask a potential agency in order to select one that is reputable as well as effective.

The first question to ask is how long the collection agency has been in business and at their present location. You want an agency that has a good track record and that has been in business long enough to show that they are professionals who get the job done to their clients’ satisfaction.

Another smart question to ask is how many collection agents they have on their staff and how are they trained. Find out if one or more collection agents are assigned to your account. Ask the collection agency if they expect their staff members to be professional and courteous at all times, both attitudes which can only help you in the long run.

Ask how easy the collection agency makes it for the debtor to reach them, either by phone or in person or email and even thru social media such as Linkedin, Facebook and even Twitter. Find out if they offer debtors a toll-free number for returning their calls, making it easier for a cash-strapped debtor to call back and discuss the situation rather than avoiding the call because they cannot afford to make a long-distance or toll call to the collection agency.

Ask if the agency is computerized and how often they report the status of your account to you.

Ask if the agency will provide client referrals or testimonials from others in your same type of business. Ask what sort of fees they charge you to collect monies owed and if you must sign a contract to retain their services and how long is it binding on both parties.

Ask a prospective collection agency how they ensure that they are following all state and local laws and regulations regarding collection.

Ask how long the collection agency works at trying to obtain your money from past-due accounts and how they determine when to advise you to start legal proceedings against deadbeat clients.

Have a question? Call us now.

Butler, Robbins and White has been in business for 30 years and we are on standby now to help increase your business’ cash flow. Call now at 1800-749-1969 or email us your contact information to new_client@brwcollect.com