How to time management

Here's some so great news for you: your potential customers have got too many additional vendors to buy from.

Your own sales team is usually way too savvy (as well as a little bit spoiled) too...they are simply a product of a "feel good" era of unlimited success.

How To Time Management

There are tons of solutions almost exactly like the ones you have which are simply a mouse click away. Even worse is that chances are your current product or service is likely bordering on a being a commodity!

Now in this kind of super competitive, price-driven business universe most of us reside in, precisely what can a sales manager do regarding this?

The vital thing you will need to try to is to decide on a strategic sales approach which optimizes your own sales results while maximizing and bettering your prospects satisfaction with your products or services.

Seems like a mouthful...but allow me to explain.

With information simply a mouse click away, if you sell a product to a person and they are unhappy with it, the swiftness which that knowledge will get passed from the let-down customer to a would-be client is faster than you can say "Follow me on Twitter"...

For that reason, your own sales team's sales tactics need to evolve with the times.

What your sales managers need to do is position your product or service under the ultra-high powered electron microscope of scrutiny and determine precisely what "features" of your products and services are TRULY better-quality than the competition.

Several examples are:

* Your expanded support is longer

* Your consumer support number is open a bit longer

* Your price is a little bit cheaper

* Your product or service saves office time because it delivers fewer errors when used

* Your replacement items are built with better quality material

When you figure out those 1 or 2 features you are genuinely outstanding at then implement the 5 key techniques to beating sales quota below:

1. Identify which of those "feature" distinctions between you and your competition are actually significant

2. Figure out precisely what the "benefit" of that particular feature is

3. Figure out the "benefit behind the benefit" of that benefit

4. Coach your salespeople on the correct way to articulate this "feature - benefit behind the benefit" tactic in a sales call

5. Settle back and enjoy your sales budgets getting blown out

In our next post we're going to train your sales managers specifically what questions they need to ask to complete #1 above, in addition to how to find out exactly what the "benefit behind the benefit" actually is.

To learn more about sales management training, click here to get your choice of free sales management training courses.

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"Cash is the lifeblood of business" is an oft-repeated maxim amongst financial managers. Working capital management refers to the management of current or short-term assets and short-term liabilities. Components of short-term assets include inventories, loans and advances, debtors, investments and cash and bank balances. Short-term liabilities include creditors, trade advances, borrowings and provisions. The major emphasis is, however, on short-term assets, since short-term liabilities arise in the context of short-term assets. It is important that companies minimize risk by prudent working capital management.

What Affects Working Capital Management:

How To Time Management

o Organizations are generally focused on cash, accounts payable and supply chain issues. On the hand, external issues like the legal and business environment, or internal mechanisms like organization structure, information systems, can significantly impact working capital.

o Owing to market pressures, companies are led to paying a lot of attention to producing good quarterly results quarter after quarter. Undue focus on this may sometimes produce a flattering but inaccurate snapshot of working capital performance. This also happens in companies that have a marked seasonality of operations with working capital requirements varying widely from quarter to quarter.

Measures to Improve Working Capital Management:

o The essence of effective working capital management is proper cash flow forecasting. This should take into account the impact of unforeseen events, market cycles, loss of a prime customer and actions by competitors. The effect of unforeseen demands of working capital should be factored in.

o It pays to have contingency plans to tide over unexpected events. While market-leaders can manage uncertainty better, even other companies must have risk-management procedures. These must be based on objective and realistic view of the role of working capital.

o Addressing the issue of working capital on a corporate-wide basis has certain advantages. Cash generated at one location can well be utilized at another. For this to happen, information access, efficient banking channels, good linkages between production and billing, internal systems to move cash and good treasury practices should be in place.

o An innovative approach, combining operational and financial skills and an all-encompassing view of the company's operations will help in identifying and implementing strategies that generate short-term cash. This can be achieved by having the right set of executives who are responsible for setting targets and performance levels. They are then held accountable for delivering, encouraged to be enterprising and to act as change agents.

o Effective dispute management procedures in relation to customers will go along way in freeing up cash otherwise locked in due to disputes. It will also improve customer service and free up time for legitimate activities like sales, order entry and cash collection. Overall, efficiency will increase due to reduced operating costs.

o Collaborating with your customers instead of being focused only on own operations will also yield good results. If feasible, helping them to plan their inventory requirements efficiently to match your production with their consumption will help reduce inventory levels. This can be done with suppliers also.

Working capital management is an important yardstick to measure a company operational and financial efficiency. This aspect must form part of the company's strategic and operational thinking. Efforts should constantly be made to improve the working capital position. This will yield greater efficiencies and improve customer satisfaction.

Alexander Gordon is a writer for http://www.smallbusinessconsulting.com - The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at .95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.

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In network marketing, the CEO is the first person to check out in the management team. Talk to him or her if you can. Look at his or her past marketing, corporate, and educational experience. The CEO is the captain of the ship. You want someone who can help you get to a great financial destination smoothly and quickly.

Learn the answers to these questions when you meet the CEO or the CEO's management team:

How To Time Management

1). Is he or she honest and fair?

2). Does he or she have commitment to and vision or building a business to last a lifetime?

3). How much of the company does he or she own?

4). Does he or she have a long-term vision?

5). Is he or she a delegator or an on-the-job leader?

6). Can you talk to the CEO at all? (If not, be cautious.)

Look at the corporate management team. This is the supporting cast that helps guide the captain. These people are the first and second mate, the boatswain, the chief engineer, etc. These are the people who make it happen for the captain - and for you. Check the VPs' and managers' backgrounds. Look for how much marketing experience in the direct sales industry they had before they joined this organization. Will they be hands on with you and your distributor force?

You need to do all this checking because you are making one of the biggest business decisions of your life. You will be investing time, money, contacts, your reputation, and your personal effort in this business. If you believe it was smart to spend quality time looking for your mate, first home, new car, or new job, the same focus needs to be placed on this decision. Your job is to sift through a lot of dirt to find your gold nugget. That gold nugget is the company that will provide you with a residual income forever. Because I did that kind of research, I joined a business that has helped thousands of average working individuals make extra monthly part-time income.

As we know, 90 percent of all personal bankruptcies would never happen if that person had an extra 0 a month. The difference between good living and disaster really can be that small! If you pick the right company, you can be responsible for training hundreds (or maybe even thousands) of people who some day will begin making extra income forever. You can be one of them.

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