Twelve Proven Rules for Sales Success
Stephan Schiffman, president of D.E.I. Management Group, Inc. and author of several books about selling, offers the following 12 rules for sales success:
1. Always respond to customers and prospects within 48 hours.
2. Schedule sales appointments for early (8 a.m.) or late (4 p.m.) in the work day.
3. Follow through immediately on thank-you letters, letters of agreement and internal paperwork.
4. Set two new appointments every day.
5. Strategize with your sales manager on a regular basis. Ask for help – and be ready to use your boss as an advocate within the target organization.
6. Don’t kid yourself.
7. Create a sense of urgency in all your communications. This is your job, and no one else’s.
8. Be honest. People won’t give you repeat business if they don’t trust you.
9. Know 10 client success stories and be ready to share them at the drop of a hat.
10. Decide on your opening question for the meeting. Don’t walk into the meeting without a plan.
11. Decide on the next step you want to take and ask for it directly. This, too, is your job and no one else’s.
12. Always get the prospect to do something: another meeting, a visit to a facility, a conference call. Something has to land on the other person’s calendar, preferably for a slot within the next 10 business days.
Are You Liable for Employees’ Medical Expenses?
Governor Kenny C. Guinn recently signed into law Senate Bill 116, which makes employers liable for employees’ medical expenses if the employer fails to properly notify employees that their health insurance has been cancelled. The law requires that employers who cancel health insurance coverage for employees must notify their workers in writing 10 days prior to canceling the policy. Employers who fail to do so can be held responsible for paying the employees’ medical bills up to the amount of the premium. Previously, employers who failed to comply with the 10-day notification requirement could be fined up to $5,000 by the state labor commissioner. “In the past, if an employer was fined for canceling health insurance without notifying employees, the state treasurer got the money, and the employee had to foot the medical bills,” said Nevada Labor Commissioner Michael Tanchek. “Now, employees who don’t have a fair chance to at least make other arrangements can get some of their expenses paid. As long as an employer notifies employees 10 days in advance of the cancellation, the employer is within the law and the penalties would not apply.”
Retailers Speak out on Industry Trends
Retailers revealed a positive industry outlook at the Spring 2005 Retailer Survey, conducted at the recent International Council of Shopping Centers (ICSC) convention in Las Vegas. According to the survey:
Retailers expect an average 4 percent increase in same-store sales for 2005.
They predict an average 5.4 percent rise in holiday shopping dollars, compared to last year.
Retailers indicated average expansion plans of 9.1 percent for their companies in 2005.
About 65 percent predict the economy will stay about the same throughout 2005.
The aging population, Internet shopping, rise in the “tween” market and rise in the multicultural market were selected as the consumer trends likely to have the most impact on retailing within the next five years.
Despite the increasing popularity of outdoor and lifestyle centers, more than half (54 percent) of the retailers selected enclosed shopping centers as the most productive retail format for their company.
Silver Prices Reach 17-Year High
The silver price in 2004 staged a dramatic rally, rising a robust 36 percent to average $6.66 per ounce, according to World Silver Survey 2005, released recently by the Silver Institute and GFMS Limited. Through the first four and a half months of 2005, the price averaged $7.00 per ounce. This price increase reflects fundamental changes in silver’s supply/demand balance, according to the report. Last year also saw a boom in investor activity, mainly driven by funds operating on futures exchanges and considerable interest from high net-worth individuals.
Overall mine production registered a 4 percent increase in 2004, with Mexico, Peru, Australia, China and Poland the top five silver mining countries. Much of the growth in industrial fabrication was driven by the electronics sector, whose demand for silver rose by almost 14 percent.
