By Guest Contributor Mark Welker – www.bpinsights.com

Some people believe that it is the events that control your life, but in reality it is your belief about the events that is the controlling factor. Beliefs are the acceptance of a perception being true and a conviction that this belief fits reality. Beliefs are the building blocks of values. They combine both a cognitive choice and an emotional response to certain triggering events that produce a consistent response. These beliefs when clustered together produce a value.

A value is a single belief concerning an ends or a means. Ends might be you being rich or the world at peace, while a means might include being honest or having ethical behavior. Values provide the motivation through which we achieve personal fulfillment or a feeling of self-worth. The motivation is released as focused behavior on a desired end. Much like the motivation to start a business, the motivations of each might be different. Some owners are concerned about the money, some want to achieve independence and some simply believe that they could take better care of the customer or make a better widget and the money will be secondary. The functional policies used in small businesses are sometimes very unique. The policies are generally controlled and affected by the owner in a very pragmatic way. Remember, these are the policies that provide the guidelines for decision-making and converting plans into actions.

The owner’s personal leadership style has a significant impact on the way the company addresses problems, because to a large degree, the style creates the norms and values used to control and operate the business. The degree to which the owner has developed self-awareness of their values and behaviors can be a determining factor in business success. Business owners must take the leadership role in mobilizing the people to adapt their work to changing realities. Business owners behave in certain ways and have different values. They do not always understand their core motivations or actions. Business owners should understand their strengths and weaknesses as well as their guiding values.

The culture of a company is the reflection of the owner’s values. The culture begins when the owner imposes their own values on the company. If the company is successful and the assumptions, based on owner values, prove useful – these values are taken for granted and used in decision-making. When the company or business encounters changes in the environment the assumptions are questioned. An extreme example of this might be the stated values of the Marine Corp., Honor, Courage, and Commitment. These are the core values that guide each Marine’s decision making, or said another way “who he/she acts like in the dark.” Yes, I understand that there are failures, for example, in a cover up, but in most situations they work. The powerful proof is that they have been able to take people from all walks of life and align them with the Marine Corps core values.

What are the controlling values when you are not there? This model could be used to develop guiding values for a company. An example of the values used in a company might be Ethics, Responsiveness, and Profitability for example. Owners have a responsibility to clarify the guiding values of the company, because that is the basis used to make the judgments and decisions that affect all stakeholders. (Many people have a need to be part of something bigger than they are).

Please request a complimentary DISC and Motivators Assessment at
http://www.businessperformanceinsights.com/contact-1.html

 
Business Performance Insights
4575 Via Royale
Suite 218
Ft. Myers, FL 33919
www.bpinsights.com
jessica@bpinsights.com
201.563.2243
mark@bpinsights.com
239.872.4555

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907

http://www.InfinityBusinessBrokers.com

By Guest Contributor Jessica Trippler – www.bpinsights.com

Most small businesses rely on sales people to sell a particular product. I like to say, “Sales people keep businesses in business.”

Did you know;

• 20% of all salespeople make 80% of all sales, which means 80% of a sales force fights over the remaining 20% of business (Greenberg & Greenberg, 1983)
• 55% of salespeople have no ability to sell, and 25% have sales ability but are selling the wrong product or service (Greenberg and Greenberg, 1983)

Finding the right people to keep you in business and keep you profitable can be difficult. During the hiring process business owners may ask themselves;

• Can I trust this person to represent my company and product?
• Can they really sell?
• Do they understand the sales process?

When a business finally finds someone that can sell a product effectively, and lots of it, everything is great. The sales person is “on a roll” and it seems like nothing can stop them. Then a few months or years go by, and suddenly, that same person is not bringing in the numbers they used to. It is a huge concern when a small business or manager comes to the realization that their top performer is in what I like to call, a “Sales Slump.”

In order to understand exactly what happens during a “Sales Slump” and how to overcome it, we first have to understand what characteristics a top sales performer possesses. What types of behaviors and values are needed to be a top sales person?

A recent study by the Harvard Business School found that highly successful salespeople do not take “no” or objection personally; they take 100 percent responsibility for the results they deliver; possess empathy; have above average ambition, willpower and determination; are intensely goal-oriented; and can easily approach strangers (BASIS International, 2002). I believe sales people are often times high energy and have an uncanny ability to influence others to their point of view. Target Training International’s study into motivators and values confirm the importance of the utilitarian value. Utilitarianism indicates that top sales performers are motivated by practical results, rewards and a return on investment.

What causes the “Sales Slump” and how can we overcome it? Sales professionals would claim that customers are not willing to buy because of timing, the client was not serious, the economy is poor or the leads or opportunities that have been given to them are lacking. Or they may place blame on, my favorite objection, pricing. I think it is important for sales staff to learn how to become more self-aware. The better you understand yourself, the better you will understand others. Ultimately, all the strengths that make up a top performer can often times become their greatest weaknesses. Over time, these behaviors and values become overextended and cause stress. A “Sales Slump” can simply be a case of losing sight of the behavior it took in order to be successful. Just recognizing how a person’s behavior may have changed, may just be enough to overcome the slump. Overcoming a “Sales Slump” is truly about educating yourself or your staff and learning to be more self-aware.

Please request a complimentary DISC and Motivators Assessment at
http://www.businessperformanceinsights.com/contact-1.html

Business Performance Insights
4575 Via Royale
Suite 218
Ft. Myers, FL 33919
www.bpinsights.com
jessica@bpinsights.com
201.563.2243
mark@bpinsights.com
239.872.4555

Michael Monnot

941.518.7138
Mike@infinitybusinessbrokers.com
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907

https://infinitybusinessbrokers.com

By Guest Contributor Krystal Burroughs – www.reviewdriver.com

“80% of consumers will choose a 4 star business, but only 14% will choose a 3 star business” (Pepperdine School of Business)

Online reviews play a major roll in your company being found and chosen. Do you know what your customers are saying about your business?

Review Driver is an automated software solution that will help you gather customer feedback and increase positive online reviews. With as little as 15 minutes a week you can gain valuable feedback from your customer’s experience and easily gain positive online reviews on public review sites like Google, Yelp, Facebook and Angie’s List. Taking ownership of your review profiles, monitoring the sites that matter most to your business and building positive online reviews will strengthen your SEO, improve your online image and attract new customers.

Who better to explain than one of our clients, Greg McAfee, President of McAfee Heating & Air in Dayton, Ohio:

More and more people today are turning to social media and online services to find out more about companies prior to doing business with them.

Because of this, in order for us to stay ahead of the competition, we wanted to encourage our customers to leave reviews. Review Driver provided us a way to easily reach out to our customers on a daily basis and request they leave honest feedback about their most recent service with our company. We have benefited from Review Driver in the following ways:

1.      We can request that any positive reviews be shared publicly; thus increasing the number of positive reviews seen on line.
2.      We are given an opportunity to respond to any negative reviews, which improves our overall customer satisfaction.
3.      Our customers are provided an easy opportunity to “vent”, which many times prevents them from taking their complaint to another online public forum.

I highly recommend Review Driver to help manage and drive public online reviews

Gone are the days of feeling too small or powerless to control your online reputation. Take control of your customer surveys and online reviews, call today.

Krystal F. Burroughs
krystal@reviewdriver.com
Director of Client Happiness
(727) 218-9218

Michael Monnot

941.518.7138
Mike@infinitybusinessbrokers.com
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907

https://infinitybusinessbrokers.com

If you are a business owner who is watching the market and looking for the right moment to sell, then the Q4 IBBA report for 2015 has some good news for you.

IBBA (the International Business Brokers Association) released the Q4 Market Pulse Report in conjunction with M&A Source and the Pepperdine Private Capital Market Project. The report showed a strong market for “Main Street” businesses (those with values less than $2 million). These Main Street businesses sold for 91% of their asking price in the final quarter.

There are also more buyers entering the market, as evidenced by a record year at the Small Business Administration (SBA). SBA distributed around $23.6 billion in 2015.

Most of the buyers of small business listed for less than $500,000 were first-time buyers, so for those contemplating selling their small business – there is a new crop of business buyers out there looking for their entrepreneurial chance. Perhaps the time to make your business part of their future as entrepreneurs is now.

Moreover, market activity in the last quarter of 2015 was lead by those businesses in the service industry (for the Main Street sector), so those with a service-related business should consider listing their business now while their industry leads the charts.

The very active market in 2015 should continue in 2016, as many in the business market are projecting. This upward trend, however, can’t continue forever. If you are considering selling your small business, selling now while the market is healthy may be a far smarter bet than waiting to see what the future of the market might hold.

Have you thought about selling your business, but were waiting for the right time? Would you like to know what businesses in your industry are currently selling for? Please feel free to leave any questions or comments here and we would be happy to help.

Michael Monnot

941.518.7138
Mike@infinitybusinessbrokers.com
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907

https://infinitybusinessbrokers.com