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Effects of Investing in Your Team Before, During, and After Economic Uncertainty

Posted By Kim Watson, Corporate Alliance Production, Tuesday, March 31, 2020

THE EFFECTS OF INVESTING IN YOUR TEAM BEFORE, DURING, AND AFTER ECONOMIC UNCERTAINTY

Research considered the impact of investing in team members before, during, and after times of considerable economic uncertainty. Those efforts included job-related selection activities (i.e. personality inventories, cognitive tests, interviews) and training. The researchers determined that the degree to which organizations made those investments in the quality of employees created a strategically valuable resource when the economic environment changed.

Firm-level data across 12 years from 359 firms was considered. Analyses indicated that investments in people influenced firm profit growth. Further, results revealed that firms who more effectively staffed and trained outperformed competitors pre- and post-recession, even after controlling for prior profitability.

Thus, selective staffing and training may be used strategically during economic uncertainty. That strategy will prime organizations for optimal growth and competitive advantage shortly after economic recovery.

I’m happy to provide a free 30-minute consultation to discuss strategy. Please reach out through my website: alliancepro.com

 

SOURCE: Kim, Y., & Ployhart, R. (2014). The Effects of Staffing and Training on Firm Productivity and Profit Growth Before, During, and After the Great Recession. Journal of Applied Psychology, 99(3), 361-3898.

 

1. EBIT scores based on Korean monetary unit (won)

Tags:  Competitive Advantage  Growth Strategy  Staffing  Strategy  Training 

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Brand building strategies for handling the coronavirus recession

Posted By Victor Assad, Victor Assad Strategic HR Consulting, Wednesday, March 25, 2020

Many businesses are now scrambling to implement working-from-home procedures, cutting worker hours, and reducing their workforces, whether temporarily or permanently. Economists are now predicting a short but deep recession, with a drop in US economic output of $1.5 trillion, 7% unemployment, and 5 million Americans out-of-work.

How a company pivots during a crisis significantly impacts its customer engagement, profitability, and employer brand.

Take the example of Southwest after 9/11. Air traffic had dropped dramatically, and most airlines laid off significant numbers of employees.  Southwest was the exception.  Instead of downsizing, it refocused its slack workforce on making process improvements. When the market improved, Southwest did not have to rehire its former workforce or hire new employees --it had a ready, trained, appreciative workforce with the ability to help the company quickly expand into new markets. Its competitors, on the other hand, struggled with staffing, training and operations issues.

Let’s review alternatives to reductions in force.

  • Remote work. Based on my experience and empirical evidence, most companies can have 25% to 45% (and even 100% if it is a software company) of its workforce work remotely. Keeping operations working to serve clients while the competition struggles with the transition may go a long way to building outstanding client relationships and finding new clients. Click here to learn more about setting up a remote work environment that keeps workers focused, productive and feeling part of the team.
  • The Southwest Airlines 9/11 Model. Southwest was able to quickly recover after the travel market rebounded after 9/11 because it reassigned its workforce to making process improvements rather than laying them off. The coronavirus precaution for social distancing will make this strategy more difficult for some companies, but look for areas to reassign teams of employees to make process improvements or reduce work backlogs without violating the social distancing guidelines. Some of this work may be done remotely with the substantial uses of digital technology. Ask your managers and employees for suggestions and how to achieve it.
  • Partial reduction in hours. For some companies in hospitality, travel, oil, and real estate, a reduction in hours can be a strategy to serve the reduced need of customers while hanging on to precious, trained workers and providing them with income for food and housing. Many restaurants facing government orders have closed dine-in eating and switched to a take-out and they are rationing these precious work hours to their staffs. Remember, under the Fair Labor Standards Act (FLSA), the pay of exempt employees cannot be cut in a week when the exempt employee worked part of the week. Another option for exempt employees is to change work hours on a forward-looking basis, at the next pay period, without violating FLSA, as long as the exempt worker reduced pay is more than $684 a week. However, this should be longer than two-weeks and not intermittent. Before taking this step, remember to also check with state and local laws, which may have more restrictions.
  • Temporary layoffs—keep employees on healthcare benefits. If your business does need a furlough due to mandatory government shutdowns or a total collapse in your industry, I encourage you to follow the example of the Minneapolis Convention Center, which had to comply with the governor’s order to close. It laid-off its workers, encouraged them to file for unemployment, and kept them on full health care benefits. This thoughtful action is allowed under some health care benefit plans. Be sure to check with your health care provider. It is also permitted under Consolidated Omnibus Budget Reconciliation Act (COBRA), which also requires the option for laid-off workers and dependents to continue health care benefits in the event of a permanent reduction in force. Also, look into allowing employees to take vacation time, paid time off, and sick time during such periods.

If a reduction in force is necessary, remember these guidelines of The Worker Adjustment and Retraining notification (WARN) Act:

  • Employers must provide written notice at least 60 calendar days in advance of covered plant closings and mass layoffs. A WARN notice is required when a business with 100 or more full-time workers (not counting workers who have less than six months on the job and workers who work fewer than 20 hours per week) is laying off at least 50 people at a single site of employment. Or the business employs 100 or more workers who work at least a combined 4,000 hours per week, and is a private for-profit business, a private non-profit organization, or quasi-public entity separately organized from regular government. This warning is also required for employees who are terminated or laid off for more than six months or who have their hours reduced 50% or more in any six-month period as a result of the plant closing or mass layoff. Pay may be offered in lieu of notice.
  • Less than six-month exception: Note If the layoff is for less than six months, the WARN Act is not triggered.
  • WARN Act “Unforeseeable Business Exception. There is also an “unforeseeable business exception” in the WARN Act. It is not clear if the circumstances around the Coronavirus will trigger the WARN Act, especially if the reduction in force will be for less than six months and if regulators consider the Coronavirus an unforeseen event.

The coronavirus presents the US a national crisis that requires putting the public interest and safety first, including the safety of your clients, suppliers, and employees. As a business, how you react during this crisis will greatly determine the loyalty of your customers and employees.

Watch my social media posts, blogs, and podcasts for future updates.

Victor Assad is the CEO of Victor Assad Strategic Human Resources Consulting  and managing partner of InnovationOne. He works with companies to improve their recruiting, HR operations, and develop extraordinary leaders, teams, and cultures of innovation. His new book is Hack Recruiting: the Best of Empirical Research, Method and Process, and Digitization. Subscribe to his weekly blogs at www.VictorHRConsultant.com. 

 

Tags:  Alternatives to layoffs  Furloughs  Remote work 

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7 Steps to Implement Remote Work

Posted By Victor Assad, Victor Assad Strategic HR Consulting, Tuesday, January 7, 2020

An executive team asked me about the company’s need to cut overhead costs and invest more money in R&D. “Why not switch to a flexible work environment?” I suggested. Many companies find that  25 percent to 45 percent of the workforce could work at home three to four days a week. In addition, companies discover they can save up to $11k per remote worker with a redesigned office space and with the productivity gains from home office workers. That will free up a lot of dollars to invest in R&D!

Besides, working from home is the No. 1 desired non-pay benefit of workers of all ages and men and women, and it improves employee morale, recruiting, and retention.[i]

Working from home is a growing trend. According to the Bureau of Labor Statistics (BLS), remote work increased 115% from 2005 to 2015. Currently, 16% of the workforce — 26 million Americans — work remotely at least part of the time.

Here’s what you need to do to assure your company’s success with telework:

  1. Make it job-specific. Recognize from the beginning that telework is not for every worker. Telework is based on the requirements of the job and the team. If a worker must be present to do a manufacturing job, be in a research lab to use its equipment, have access to data they can only access at the office (say, for security reasons), or need to be available for frequent face-to-face meetings and interactions, they must be physically at the office. If, on the other hand, most of their work is accomplished on the computer and most communications can be done over the phone, email, text, or videoconference, they can usually work from home, or at customers’ or suppliers’ sites three-to-four day a week.
  2. Continually communicate expectations and norms. Telework requires that leaders do what they should have been doing all along: provide workers with clarity about the company’s business strategies, goals, and the standards for excellence. Managers also need to provide clarity on expected operating norms, such as how quickly to respond to others, which meetings will be face-to-face vs. digital, and where commonly used documents will be stored online.
  3. Update your digital technology. Companies with multiple locations and home office workers need to use excellent video conferencing, collaboration, and data-storage technology. No worker wants to waste time searching for documents or wait minutes for a file to open online. Video conferencing improves teamwork and collaboration as opposed to a phone call.
  4. Certify the remote workplace. Teleworkers need to certify that they have a safe, ergonomically sound, and dedicated workspace at home. That workspace also needs to comply with the company’s security requirements.  Working from a stool at the kitchen counter is not such a space!
  5. Train your managers and employees. We have found that companies can make this transition quickly and smoothly after training and answering the questions from managers and employees. It is not as easy as saying, “take your computer and start working from home!”
  6. Manage by trust and accountabilitynot compliance. Organizations with leaders who inspire their workers to achieve a higher purpose and emphasize collaboration, trust, and results are more productive and innovative.
  7. Redesign your office for those who will come in to work every day. The ubiquitous open office environment isn’t the answer for office-based employees! Open office environments commonly lead to distracted, irritated, unproductive workers.[ii] Teleworkers no longer need to have a dedicated cube or patch of floor space when they are working from home or the customers’ site three-to-four days a week.  When they come into the office, it will usually be for meetings.

For many organizations, the best workspace design calls for more collaborative space for impromptu meetings, where the discussion won’t disturb others. Small huddle-rooms often meet that need. Organizations often need more high-quality videoconference rooms for excellent visual transmission and to see the emotions of team members in remote locations. Teams need dedicated rooms that allow teams a shared space to collaborate and access the data they need. Individual team members also need quiet spaces for “head-down” work, which is best done without interruption.

Data shows that redesigned workspaces can lead to significant reductions in real estate costs, even after the initial investment of new technology and furniture.

Are you ready to switch to a flexible work environment? I invite you to join me on Feb. 6 from 11:30 AM to 1:30 PM at the Arizona Small Business Association, P-Level meeting room, 11811 N Tatum Blvd, Phoenix, AZ 85028 in Phoenix! Register today!

Victor Assad is the CEO of Victor Assad Strategic Human Resources Consulting and works with companies to improve their recruiting, HR operations, and develop extraordinary leaders, teams, and cultures. His new book is Hack Recruiting: the Best of Empirical Research, Method and Process, and Digitization. You can buy it online at AmazonBarnes and NobleArchway Publishing, and now The SHRMStore. Subscribe to his weekly blogs at www.VictorHrConsultant.com.

[i] Victor Assad, Hack Recruiting: The Best of Empirical Research, Method and Process, and Digitization. Archway Publishing, 2019.

Tags:  Flexible Work Arrangements  Remote Work  Telework  Teleworking 

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3 KEYS TO RECHARGING MENTAL BATTERIES

Posted By Kim Watson, Corporate Alliance Production, Wednesday, December 4, 2019

The next time you're tempted to work through lunch, think again. As a manager, if you drive others to power-through to get the job done, ask yourself if your goal is to diminish productivity and minimize quality. Psychological research shows that working without pauses actually does more harm than good.

Think about your laptop computer. One of the primary benefits of a laptop is to operate by battery power. However, it’s only effective until that battery runs out. Once recharged, it’s equally effective again.

Everyone has a mental ‘battery.’ The truth is that – although some folks have smaller batteries and need more frequent recharging – we all need to recharge our mental batteries eventually. Otherwise we lose effectiveness in the short term and may burn out in the long-term. That’s where breaks come in. Think of breaks as plugging in that laptop.

Breaks are not one-size-fits-all. But there are a few generalizations that are good to keep in mind (Weir, 2019).

  1. First, choose an activity that isn’t too similar to the work you are doing.
  2. Second, include some sort of physical activity in your break.
  3. And, third, include nature either by getting outside or viewing nature scenes.

A qualified Executive Advisor can help you assess the mental stamina of you and your team members. They will help you be an intentional leader who understands how frequently team members may need to recharge – for their benefit and the organization’s. After all, good leaders don’t want ineffective workers or those who burn-out.

SOURCE: Weir, K. (2019). Give Me a Break. Monitor on Psychology, 50(1), 40-46.

Tags:  breaks  burnout  effectiveness  leadership  stamina 

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Founder & CEO

Posted By J.D. Jenks, Global Financial & Leasing Services, Wednesday, September 18, 2019

How the Economic Outlook Affects Lease Financing for Construction Equipment

The Association of Equipment Manufacturers (AEM) recently published an article on the economic outlook for 2020. It stated that while the economy began 2019 rather strong and that the U.S. is in the middle of 100+ months of economic expansion, many thought leaders are forecasting that our hot economy will cool down a bit. Why pump the brakes in the midst of high business and consumer confidence and low unemployment? Rising interest rates, looming tariffs and an inability to hire enough workers, especially skilled labor. 

The Global Financial & Leasing Services (GFLS) team keeps a close eye on economic reports, especially those concerning the industries in which we finance equipment. However, we can gauge the economy’s highs and lows simply by the number of equipment financing applications we receive. Over the past few years, applications have been flooding in from customers who are confident enough in the economy that they’re comfortable spending money. 

Construction Leads the Way

The construction industry – residential and commercial – historically leads the way in a good economy. Of course, building requires construction equipment, so it’s no surprise that the demand for construction equipment financing is high. 

The past few years were good for leasing pre-owned construction equipment. A good economy mean companies can replace older equipment with new, which increases used inventory. There are a number of construction firms leasing their quality, used construction equipment like backhoes, dump trucks, bulldozers, and other heavy equipment in order to offset the cost of purchasing new equipment.

Is Now the Best Time to Finance Construction Equipment?

Despite interest rates, tariff concerns and labor crunches, it is still a great time to finance construction equipment for a few reasons, including:

·     Used inventory is excellent

·     Current low interest rates (but the Federal Reserve recently has raised rates and more increases could be on the way)

·     The quality manufacturing of today’s construction equipment minimizes the risk of the payments outlasting the equipment

AEM reports that the construction industry is expected to experience steady and solid growth, at least in the short term, though no one can predict the impact of any unforeseen circumstances or events. Financing construction equipment makes sense for many construction firms right now.

READ: Why Put Profit Above an Equipment Lease Payment?

GFLS helps small and medium-sized businesses finance construction equipment leases, even those with less than perfect credit and who have been turned down by other equipment financing providers. Get started today with an application or contact our team for more information.

Financing an Excavator

Even if You Have Bad Credit

With construction leading the way in our current economy, it’s no surprise that small and mid-sized companies are taking advantage of the boom and investing in heavy equipment like excavators. These machines help them take on projects previously out of their reach. Also, financing new or gently used excavators beefs up a company’s fleet. However, excavators are a serious investment and purchasing outright is a large capital outlay. This makes buying outright out of reach for many business owners who don’t have that kind of capital or prefer to keep it on hand for other purposes. 

Comparing New and Used Excavator Costs

If you’re financing a new, a full-sized excavator, the cost can range generally between $100,000 to $500,000. In general:

  • Small excavators (10 to 15 tons) cost between $80,000 to $150,000
  • Mid-sized excavators (15 to 20 tons) range between $100,000 to $200,000
  • Large excavators (30 to 40 tons) run from $200,000 to $400,000  

 

Accessories, if needed, will be an additional cost. Most excavators come with one bucket, however, your typical jobs may require multiple or different-sized buckets for which you’ll need to budget an additional $1,000 to $5,000each. Attachments such as rakes, blades and hydraulic hammers can add $5,000 to $10,000each to the cost. 

The high cost of new equipment and a good economy have created an excellent market for used excavators, putting them in reach of many small and mid-sized companies. Used excavators can be had at a significant discount. A gently used excavator with less than 2,000 hours of use might sell for 25 percent less than the original price – a great deal considering these machines have lifespans of up to 10,000 hours or more.

READ: Why Put Profit Above an Equipment Lease Payment?

Financing Your New or Used Excavator

Whether this is your first excavator, your fifth or you’re taking advantage of the great used inventory to upgrade, excavator financing from Global Financial & Leasing Services (GFLS) can help. If there is anything more important than getting the right excavator for your company, it’s working with the right lease financing company with experience in heavy construction equipment financing. 

That’s where excavator lease financing from GFLS comes in. Our team can help you acquire essential equipment when you want to retain your capital for other things or bad credit makes you risky on paper to other lenders. 

READ: What to Expect if Your Credit Score is Under 750

Get Excavator Financing Through GFLS

Since 2009, GFLS has been providing excavator lease financing for small and mid-sized businesses across the U.S. Our customers count on us to help them obtain the heavy construction equipment they need to compete in their area and take their companies to the next level through:

·      A fast, easy excavator financing process

·      Dealing directly with financing decision makers

·      Our willingness to look beyond a credit score to your “story”

·      Reliable, ongoing communication 

·      Equipment financing decision made in <2 to 24 hours

·      A financing culture based on respect

We know what a difference a day can make for companies that need to get excavators on the job. Start the applicationtoday and the GFLS team will move heaven and earth to approve your excavator financing in as few as 24 hours. Have a question about heavy construction equipment financing? Contact our teamfor answers.

 

Josh Shull

480-478-7413

Global Financial & Leasing Services, LLC

8800 N. Gainey Center Drive, Suite 270

Scottsdale, AZ  85258

www.gfrservices.com

 

 

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Finally! What Motivates Employees

Posted By Judi Pine-Sellers, Advanced Systems Design, Thursday, August 8, 2019
 

The research is clear. There are primarily six reasons people work and they affect an employee’s performance. Three of these reasons help improve performance; play, purpose and potential. Three of these reasons actually reduce performance; emotional pressure, economic pressure and inertia.1

Here is an example. Most sales people are motivated by money to some degree. But now we understand we have to learn a bit more about them to discover why they are motivated by money. For example; is it because they are very competitive and they want to win the game? Then sales would be like play for them. Or are they selling something that they believe makes the world a better place?  That would be purpose. Or if they are selling something with a goal of growing the business to leave it to their heirs; this is an example of potential. On the other hand, if they want to make money so as to not disappoint a family member they are motivated by emotional pressure. If they have tens of thousands of dollars in debt they are likely motivated by economic pressure. And if they are in the sales business because they have always been in this business and simply don’t know anything else, then their motivation is inertia.

Why does this matter?  Because your first undertaking, whether you are a Supervisor, Director, Business Owner, or leader of a variety of contract people; is to determine why people are working. This can be done in a conversation but remember that anytime you ask the question WHY, it puts people on the spot. Many people don’t know the answer but feel like they should know the answer, so they make something up. This is especially true when you are talking to “the boss”.

If you are one of those managers or leaders who believes that you just tell people what to do and they should do it; then you are probably experiencing difficulty with business success, frustration with employee performance problems or high turnover.

So how do you use this priceless research?  You get to know your employee or contractor. You get personal (in a professional way of course). You’ve heard the saying; “People don’t care until they know how much you care”. 

Once you determine why people are working, you adjust your conversations to meet their needs. This is not difficult but you have to understand what you are doing and why. 

If you struggle with managing people performance; employee or contractor management, or you need to redirect your poor performers, let’s chat. Effective people are the key element to your business success and I specialize in the 6 conversations every leader must understand to know exactly what to say to engage and redirect poor performers. Click here Judi@AdvancedSystemsDesigns.com  to schedule a complimentary conversation about how I can teach you the tools to successfully grow and manage your people so that your revenues and business will thrive giving you a more balanced work load and more time off (to do what YOU want). 

 

Credit

1 How Company Culture Shapes Employee Motivation: HBR Lindsay McGregor Neel Doshi

 

Tags:  employeeManagement  management 

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VP of Sales

Posted By Tony Meisner, Marcus Networking, Inc., Friday, October 19, 2018
If you have between 5-100 employees our company is the perfect IT consultant for you.  As a family run business we have the flexibility to work with you on a "retainer" as needed basis or all-inclusive.  This allows you to focus on building your business while we act as your CIO and keep technology on a budget.   

Download File (PDF)

Tags:  Desktop Support  IT Consultant  Security  Technology Advisors  VOIP 

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If You Don’t Care – Don’t Ask.

Posted By Mike Leeds, Pro Sales Coaching, LLC, Tuesday, May 22, 2018

Sales Tip of the Week from Mike Leeds – Pro Sales Coaching

If You Don’t Care – Don’t Ask.

“How are you today?”

 

Sounds good – doesn’t it? If the person asking really cares, it’s great. However, I bet if you keep track of the number of people who ask you this question over a period of time, you’ll find that they may not care about your response.

 

This topic has always been intriguing to me. I believe most people feel uncomfortable answering this question honestly when they don’t know the person who’s asking. It’s considered personal, inappropriate or not relevant to the topic at hand. (When we know the person, and have a relationship with them, this may be very relevant and appropriate.) It’s a “cheesy” way to break the ice when the caller is looking for an answer of “fine” and then hoping to move on to the next topic.

 

My goal is to make sure that people really care when they ask – or that they just don’t use this approach to start a conversation. As a salesperson, please think about this point when you don’t have an existing relationship with the contact.

 

When I receive calls from people I don’t know, and am asked this question – I answer them honestly and with details. They may be looking for a “fine”, but they may get a lengthy answer. For example… Question: “How are you today?” Answer: “Great. I got up early extra this morning, had a great workout at the gym. Then, I stopped by Starbucks and got some coffee. Normally, I have a grande size of their bold coffee of the day, but since they had Sumatra, I had a venti size (large). It was so good; I ordered a second one for the road. Then, on the way to the office…” You get the idea.

 

Another option would be “busy” - which can instantly kill a call.

 

Or, I may say “terrible” and give them some details. This normally will also kill a call; however, you may be surprised at the number of times this response gets no answer at all, or an answer like “great”. In either case, it’s obvious that the person either doesn’t care or isn’t listening. Try one of these answers next time you’re asked “How are you today?” from someone you don’t know (live or on the phone).

 

If you’re looking for an ice breaker, consider making a statement, like “I hope you’re having a great day” or just go into “the purpose of my call is…”

 

In either case, please keep this blog in mind before you ask “how are you today?”

Tags:  Customer Service  Data Gathering  Increasing Sales  Needs Analysis  Networking  Relationships  Sales  Sales Coaching  Sales Commission  Sales Education  Sales Goals  Sales Management  Sales People  Sales Professionals  Sales Questions  Sales Quotas  Sales Results  Sales Skills  Sales Teams 

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Winners Announced Western Talent Show benefit for American Cancer Society

Posted By Tracelyn Sutton, American Cancer Society, Monday, May 14, 2018

Western talent Show raised funds and awareness for american Cancer Society

Eight Contestants Performed for the Crowd

Tucson, AZ, May 13th, 2018 - Over 100 attendees crowded into the Sheraton Tucson Hotel & Suites on Sunday, May 6th to enjoy music and dancing with delicious bites and a great western talent show.   

Deb and Tim Rossi, Event Co-Chairs, have been dedicated volunteers for many years and started when Deb was diagnosed with aggressive Cancer in 2008.  Deb has lost seventeen members of her immediate family as well as Tim’s mother to Cancer.   Deb and Tim led the event that went off without a hitch.   Deb is celebrating ten years of being cancer-free.    The Rossi’s are excited to announce the winners of the Western Talent Show.

Winner of the People’s Choice Award:   Rodeo City Wreckettes

Winner of the Celebrity Judge’s Choice Award:  Carissa Carona

 

Emcee, Luigi Fiorino, aka Whyte Panther, entertained attendees with his original songs.  Whyte was asked about the event and he replied, “We had a great turnout and the size of the crowd was exceeded only by their generosity.  The competitors all brought their "A" games and a fantastic time was had by one and all. The committee, the volunteers, the contestants, the performers, and everyone involved contributed so much love and energy that it was hard not to be moved.  We all had a genuinely wonderful time and all learned a lot about the programs and mission of the American Cancer Society to our local community as well as nationwide.  I simply cannot wait for the upcoming gala in September... it will be an immersive dinner theater type event with great food, great people, and a night of entertainment that you DO NOT want to miss!  A heartfelt "thank you" to one and all who participated on the 6th.”  For more information please go to www.acslivedinnershow.com

The Celebrity Judges offered positive advice to each contestant.  We would like to thank Eric Schumacher, Dr. Liz Almli, Shane Harbin, Emily Eldredge, Alan Maymo, Malan Jones, Bruce Andre and Jeannie Tucker.

Each member of the committee has worked hard to make this event special.  We thank the following members: Larry Fox, Wanda Fry, Shane Harbin, Chanel Lopez, Nina Mamula, Key Phillips, Andrea Shirley, and J Beth Wright, and Kevin Fischer.   Thank you to our sponsors, Tucson Medical Center, Sonora Quest Tucson, Norma Zimdahl, and Roche.  Photo credit Darlene Krueger.

The American Cancer Society is a volunteer and community driven organization.  Through groundbreaking cancer research, free patient programs and services, community outreach, the Society helps people stay well and get well, find cures and fight back.

 

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Tags:  American Cancer society  winner  wreckettes 

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Just one call a day!

Posted By Mike Leeds, Pro Sales Coaching, LLC, Tuesday, May 1, 2018

Sales Tip of the Week from Mike Leeds – Pro Sales Coaching

 

Just one call a day!

 

That’s approximately 250 calls per year. Good things will happen when you make 250 new prospecting calls per year (even better is 2 per day = 500 per year, and so on).

 

I have a client that no matter how busy they with their current clients, makes 1 ice-cold prospecting call per day. She calls it her “Random Call of the Day” and it usually is at about 9:30 every morning (when it’s time to refill her coffee). So far for the year, she has converted 18% of these calls to clients, and another 13% are in the current pipeline. That’s nearly one third of her total calls resulting in sales or future potential. These are excellent results for prospecting calls! The secret to her success is that she has no fear whatsoever making 1 call. She truly believes that the worse thing that can happen is that they say “no” or don’t return her call. That’s okay with her, because the answer was already “no” before she made the call. “Anything I get is a bonus” she says.

 

In the words of Col. Hannibal Smith of the A-Team, “I love it when a plan comes together!”

 

Have a great week!

Tags:  Customer Service  Data Gathering  Increasing Sales  Needs Analysis  Networking  Relationships  Sales  Sales Coaching  Sales Commission  Sales Education  Sales Goals  Sales Management  Sales People  Sales Professionals  Sales Questions  Sales Quotas  Sales Results  Sales Skills  Sales Teams 

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