Oct. 11, 2018

Don’t Wait for Your Doors to be Closing

Before You Ask for Help

A friend of mine asked me to help with his Mom and Step-Dad’s business. He said that he’s been wanting me to help out for a long time, but it wasn’t until their partnering company was wanting to audit their books that his Step-Dad was open to someone coming in and helping. That may sound odd to some people. Why wouldn’t a business ask for help when it was needed? Because even though it’s a business, to a lot of business owners, it’s very personal.

A lot of times when people need help personally, they don’t ask for help. Everyone feels like they know how to handle their own business, personally and professionally. No one wants to feel that they can’t handle things around them. No one wants to appear incapable or weak. But successful people, and businesses, know that they don’t know everything. They understand that it is rare that a person can handle everything themselves, personally and more so professionally.

When I first started my business, I tried to do everything for all of my clients. It wasn’t until a colleague asked me what I did, that it was clear, I was trying to do too much. While I am capable, there are areas that I am not the strongest, Other people have more of the skill set to do it. So I built a network of professionals around me that filled in the areas that I was not the best, both for my business and my clients.

I went into my friend’s family business and I found that the company was profitable. There were a few issues that needed to be fixed and I brought in the help for those areas. In a short time, those issues were fixed. I found that they had the wrong people helping them in certain areas. Their son was doing the accounting. He had a background in finance, but not accounting. The bank statements weren’t reconciled. They had a guy running the warehouse that never worked in a warehouse. Yes, starting out in business, you take help from anyone that is willing to help, but after you are making money, you bring in people that have the right skills for the tasks they are doing.

Going over the business plan and agreement with their partner, I found that while getting more money from the partner for growth, they gave away controlling interest of their company. When I asked about their legal counsel, they said they had a very good friend that helped out. I asked more about him and found he was not a business lawyer, he was a litigator. He was very good at what he did, but not what they needed.

I know this sounds bad, but they got lucky. While going through their business, we found a specialty area that was a separate part of their business that they could break off into another company. Then they found a third party to buy out both sides of the main business. They took their money and worked on the new company.

Again, they got lucky, very lucky. I would not advise business owners to wait to get independent help reviewing their business. Don’t wait for the doors to be closing before asking for help. You should have an independent person come in once a year to look at what you are doing, how you are doing it and seeing if there is a better way to do it. When was the last time you had your business reviewed?

#businesshelp #businessconsulting #bedellmediaconsulting

 

 

What is Sales?

The definition of Sales is: operations and activities involved in promoting and transferring good and services. Granted, there are many different variations of this definition, but this is the base of it. Just as there are many different ways to define what “Sales” is, there seem to be as many, if not more, ideas of how to sell.

A lot depends on what kind of sales it is, direct, distribution, outside, inside, etc. But before we try to dive into all of the different types and ways to sell, I want to define the 10,000 foot level of, what is Sales?

Some may ask why I would want to do that? Anyone in sales should already understand what you are explaining after the first sentence. But sales effects many more people and departments that are not directly involved with the sale and sales process. A lot of times, ownership or the management/executive team, may not truly understand what sales is. They may guess and think it’s talking about what we have and why they client needs it. And to a degree, that is true. But there is more. And it’s not that complicated, as long as you don’t make it complicated.

My definition of what Sales is: Starting a conversation to determine if there is a common need. Sounds pretty simple huh? Sales is starting a conversation. But keep in mind the different aspects of starting a conversation.

When you start a conversation, are you planning on just telling the other person everything you have to say and then walk away? That’s not a conversation. When you start a conversation, do you just want to tell them how good you are and how great things are for you? Again, not a conversation. When you start a conversation, do you already have in mind everything that you want to talk about regardless of what they have to say. One more time, that’s not a conversation.

The definition of a “Conversation” is: the informal exchange of ideas by spoken word. The key word in that sentence is “exchange”. It is not one party dictating to the other party their ideas. It’s an exchange. And within that exchange, your message will change based on the information from the other party. If it doesn’t, you’re just trying to impose your message regardless of the feedback or needs from the other party. Not a conversation!

So the 10,000 foot level definition of sales is you are “trying to start a conversation.” Now that doesn’t seem so hard or daunting now, does it? Yes, there is a lot more that is involved in sales, sales types, changing the tone or message per market, and much, much more.

This should give you the most basic of understanding of sales, but if you don’t know this, than trying to add to it becomes much harder. And if you’re in another department, not directly involved in sales and the sales process, this will help you understand what they are doing. So do you feel like you understand “What is Sales?”

LinkedIn Link: Bedell Media & Consulting

#sales #strategy #managementconsulting #teamwork