The More Subtle Aspect Of Best Business Practices

There is a lot of talk these days about best business practices. Entire text books have been written on the various subjects that cover this rather vague term. This article does not attempt to cover all of those subjects, but rather to focus on one often overlooked principle that many companies are facing today. That principle is sales presentations.

Sales presentations are, of course, a part of best business practices. Let’s face it, without sales most companies would have to close their doors. Commerce in its truest form is about sales. Nothing too revolutionary there. So if sales are such an important aspect of commerce, why are so many companies struggling to improve their bottom line?

One reason could be that they are not presenting the information that the buying client wants (and needs) to hear during the presentation. In many cases, a sales team is given a stack of pre-printed materials (the product line or service offered) and they just hand it out, to be honest about it. Then they ask for the order and are often surprised when they do not get the order. Today, more than ever before, the buying client wants and demands more from vendors. Increased competition both globally and domestic is forcing buying clients to re-examine the way they work with vendors and is also demanding that vendors be more helpful during the course of the buying and selling relationship.

So what does this have to do with best business practices?

When your sales team can meet with your client and know beforehand what the client is probably going to ask or wants to know more about, your sales team will have a distinct advantage over your less informed competitors. By being able to anticipate what the buying client wants to have addressed during the presentation, and by being ready to address those issues, you immediately propel yourself toward trusted advisor status. Buying clients want to have their concerns put to rest before they sign on the dotted line. When you are able to know, in advance, what those issues are, you are helping him or her make a quick and solid decision that will most often be in your favor.

Now, that is good business practices at work.

So how does one learn to master this anticipatory process? A great place to start is with Jack Howe’s new e-edition of “30 Minutes to Prepare for the C-Suite Meeting.” Howe has spent over thirty years learning and honing the process of researching in order to better understand what the buying client will want answered. He shows you how to do the same in simple, easy-to-understand language that will help boost your overall sales in less time than you might imagine possible. His eBook can be found at http://www.30minsto.com and it is well worth the few minutes it takes to visit the site and learn more about it and how his time-tested methods can help you become the trusted advisor with all of your clients and customers.

Managing The Financial Aspect Of Your Home Business

Financial management is one of the pitfalls for people who are engaged in a home business. Even if your have choose a good home business but you have no idea on how to manage your business financially, you will most likely end up losing a lot of money. Since you cannot afford to waste your money, you better shape up and take care of your finances early on. It will not really do you any good if you just keep working on your business not really knowing if you are making enough money to compensate for your efforts.

Getting started

The first thing that you need to do to get your financial systems in place is to open a separate bank account for your business. A lot of home business owners keep their personal funds together with their personal accounts that they end up drawing money which should have been for the business and vice versa. The practice of mixing up your personal funds and the funds for your business is very dangerous because you will not have much control over you business and personal finances. By opening separate bank accounts for your business and for personal use, you will be able to manage your money better.

Aside from setting up a separate bank account for you business, you must see to it that you also set up a separate funds for your business expenses. Since you are working form home, try to separate all the expenses that are related to your business from your home expenses. For instance, your business phone should be paid by money coming from your business account. You might also want to “bill” you business for utilities and rent. You can do this by setting a certain amount every month for utilities and rent then take this amount from the business account.

Out of your business earning, you might also want to set up a certain amount which you can draw out as your salary. The good thing about setting a certain amount of money every month as your salary is that you will be able to determine if you are indeed making enough money to pay for all your business expenses and at the same time pay yourself for your efforts. Make sure that you only draw-out the extract amount of money from the business for your salary. Even if your business is doing well and you have plenty of money in the business account, do not be tempted to draw more than you should. Keep the money in the business account for future use. You might want to expand your home business later on.

At the end of the year, you might want to give yourself a bonus. If you have been religiously following your own rules regarding your finances, you will be surprised at how much money you will have left in your business account at the end of the year.