sales

From Entrepreneurial Management to Professional Management

Posted by the7stages on August 29, 2013
Uncategorized / No Comments

Becoming an entrepreneur is a dream. An entrepreneur has big ideas, with this dream comes the need for a lot of dedication, hard work and luck to turn that dream into a successful business. I t can quickly become a nightmare if the management structure is not established to manage the growth of your business.
The time commitment for managing the business will soon become too much of a burden for the Founder to handle. There are two management ‘jobs’ that need to be addressed. Managing the core operations (order fulfillment, and all other activities related to deliverable), and non-core operations (support, administration, sales and marketing, strategic planning, HR, compliance and finance) When transitioning from an entrepreneurial management to professional management, we are typically speaking of non-core operations. Entrepreneurs are very typically savvy at the core operations, so the first place to begin contemplating Professional Management is in the non-core operational side of the business. Cost structure, problem solving, strategy, operational and contingency planning along with detailed oriented goals are a few of many bullet points you will need to think of. At some point during the entrepreneurial management stage, the company will need to grow and mature, this is when the Founder will need to face a decision – should this company remain as-is (an entrepreneurial dream) or continue to the next step; how to manage the company.
As an entrepreneur you will need to contemplate if you should step back and hand over “the wheels” (company) to experienced managerial professionals or should you as the Founder stay and attempt to implement a structured management style. Once your business has grown to the point that your time is spread thin, and the non-core management activities are being neglected (or not performing as they should be), it is time to make that decision.
So how do you make this change? – And what could be some of the challenges that the entrepreneurial manager (that would be you…?) will face?:
1. Change in leadership style. Management is the talent of getting things done through OTHER people, resources and skills. Therefore, your professional manager needs to possess these attributes. Also, you will need to allow the manager to express their own personal style so they can be effective in their job. The manager will most likely have a style that is not exactly the same as yours. Bite your tongue and let them do their job! (No micro-managing here).

2. In-house or outsource? Hiring a professional manager as an employee is a good option if you have the financial resources to take on the financial responsibilities of an employee (payroll taxes, health benefits, vacation time, etc.). Figure 1.5 their gross salary as your financial commitment. Outsourcing to a firm that provides such professional management is also a viable way to secure the professional management services you require, without the overheads that a salaried employee would require.

3. Professional management will be cash flow and profit oriented. They will oversee the sales and marketing functions so you can focus on delivering an even higher quality product or service to your customers

Transitioning is a big (and necessary step). This is a decision that should not be taken lightly. Please contact us a CarlGould@CMTmentors.com, and receive an analysis for what type of management would work best for you.

Carl Gould is a business strategist, and growth expert. He has written 5 books in the area of creating business success, and is the co-host of the weekly radio program, ‘Quit and Get Rich’ (www.gteamradio.com). Carl and his team of experts advise companies and organizations to grow to the next level. What is the next level for you?

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Become a Master of Rapport and Influence

Posted by Carl Gould on July 22, 2011
Career, business, entrepreneur / 1 Comment


Learn the secrets of the top influencers and persuaders in the world. Lean
how to close the sale in 8 second; and master the one question that will
help you sell your product and service to your customers’ highest values.

“Carl L Gould is the Chief DISCoverY Officer of CMT International, LLC
(www.CarlGould.com), the farthest-reaching business mentoring organization
in the world. Carl is also the president of 7 Stage Turnaround, the world’s
leading business growth experts. Carl’s unique approach to executive
coaching, business mentoring and performance training helps his clients
achieve results worldwide. His latest book, The 7 Stages of Small Business
Success – From Startup to 7 Figures in Three Years or Less, will provide
entrepreneurs and business owners a step-by-step formula to taking their
businesses to the next level”

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Sales Stories: The good, the bad and the not so ugly

Posted by Carl Gould on November 16, 2010
business, marketing, small business owner / No Comments

Here is my response to an online interview that I gave recently. Enjoy the stories!

Tell me about the most unusual place you’ve ever found a great sales lead (on or offline — the weirder the better!). As always, please reply with specific examples.
Carl:
#1 – While taking my daughter and her friend to the Hannah Montana/ Jonas Brothers concert, I met another father. While getting to know each other over the obnoxiously loud screaming of tween-ages and teen-aged girls, it turns out we have complimentary companies and we were able to do business together.
#2 – I was involved at a team building exercise. We were on a survival test where we had to trade the skills we learned during the training session for transportation. While hitchhiking through unchartered roads, I picked up two different sales leads.
“Carl L Gould is the President and Chief DISCoverY Officer CMT International, LLC (www.CarlGould.com), the farthest-reaching business mentoring organization in the world. Carl’s unique approach to executive coaching, business mentoring and performance training helps his clients achieve results worldwide. His latest book, The 7 Stages of Small Business Success – From Startup to 7 Figures in Three Years or Less, will provide entrepreneurs and business owners a step-by-step formula to taking their businesses to the next level”

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Selling Steak Knives to a Vegan…A Lesson in Salesmanship

Posted by Carl Gould on August 17, 2010
7 Stage Success with Carl L Gould, News Articles / No Comments

The last time I needed a steak knife to cut meat for myself was almost twenty years ago.  The mainstay of my diet is green vegetables, and other culinary dishes that you can easily carve up with the side of a fork.

So why am I now the proud owner of four high end new knives that are designed for a carnivore?  The sales presentation won me over! Because I felt that the sales associates gave me a lot of value, I felt obligated to reciprocate by making a purchase. 

What influenced me was his…

1.      Enjoyment of the job.

2.      Knowledge of the product.

3.      How he handled objections and questions (before they came up).

4.      His certainty that the products were right for me.

5.      His authenticity in presenting his product line. 

1.Enjoyment of the Job:

            He was having fun! It’s refreshing to see someone actually enjoying their work for a change. He wasn’t jaded, stressed, burnt out, bored or tired of customers. He seemed genuinely grateful for the opportunity to present to us. 

2. Knowledge of the Product:

            The sales associate was a college-aged young man selling kitchen cutlery. Although he had very little experience as a ‘culinary technician’ he demonstrated excellent product knowledge. He answered every question we had accurately and without pause. What little experience he did have, he shared with us at the appropriate times. 

3. Handling Objections:

            Interestingly enough, he treated every objection calmly, naturally as if it wasn’t an objection at all and professionally.

            Clearly he was well trained on a scripted presentation…and he stuck to it! The presentation materials were well designed to handle many of the questions that were to arise.

            To his credit, he stuck to the program and was not distracted. 

4. Certainty:

            He was committed to us buying one or more of his knives, regardless of our dietary preferences.

            He knew his product was among the best and his confidence came through.

            While he was clearly looking for angles for his product to suit our needs, he also maintained an indifference to rejection.  In other words, he didn’t seem to care if we didn’t buy. Powerful combination. 

5. Authenticity:

He was himself. Made no apologies for it, nor did he make any attempt to fit a ‘typical salesman’s mold’. He wore clothes that were age-appropriate for his generation, was neat and organized. Very effective. 

I have coached many people in sales and have acted in the capacity of sales trainer, and I can tell you this young man is well on his way.

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The Paradox of Opportunity

Posted by Carl Gould on July 29, 2010
7 Stage Success with Carl L Gould / No Comments

As I travelled through South Africa, I was reminded of an story I heard when I was giving a sales training. The topic was ‘focus’. In other words, do you focus on the problem or on the opportunity? The story goes something like this…

A sales representative from a shoe manufacturer was tasked with traveling to Africa to investigate whether or not that market was work pursuing. Upon arriving, the sales representative quickly noticed that most of the population didn’t wear any shoes. He concluded his investigation boarded his return flight and returned to headquarters, proclaiming, “There is no opportunity there, everyone is barefoot.”

A sales representative from a DIFFERENT shoe manufacturer was also sent to the same region with the same mission…”Does a market exist for us to pursue?” Upon arrival, this sales representative also noticed the barefoot tendencies of the natives. He immediately rang the home office, nearly hysterical with excitement, “Come down right away! There is a HUGE opportunity here, everyone is barefoot!”

While driving towards Cape Town, I noticed a very poor village made up of rows and rows of single-room, corrugated steel homes.  Little or no running water, poor if non-existent sewage systems. It seemed as though some of the homes had electrical service. Most of the homes had dirt floors. Upon the first inspection, one would think, “There is no opportunity here.” Yet if you took a second look, you would notice that on top of a number of the homes were satellite dishes; and many of the villages were walking around talking on theirmobile phones!

Clearly, these are living conditions that need to improve. There is no doubt of that. And yet, in the middle of the poorest of villages are state-of-art technologies.

As a business advisors, I spoke to South African entrepreneurs about their paradox. During my book launch, I was asked repeatedly about what steps can be taken to start a business or grow a business in these economic conditions. If you focus on the poverty, living conditions and unemployment, you will see no market nor opportunity. You’re creativity will be limited. If you focus on the needs of the consumer, what they would truly value, and how to create an amazing experience for them – you’ll begin to realize there is great opportunity for you. 

Don’t allow the negativity of the press, the news, and naysayers derail you from your mission of making a product; find a willing buyer; and delivering on your promise. There is opportunity at every doorstop. And if you don’t see it there, look up on the roof!

Carl L Gould is the president and Chief DISCoverY Officer CMT international, LLC (www.CMTmentors.com), the farthest-reaching business mentoring organization in the world. Carl’s unique approach to executive coaching, business mentoring and performance training helps his clients achieve results worldwide.  His upcoming book, The 7 Stages of Small Business Success – From Startup to 7 Figures in Three Years or Less, will provide entrepreneurs and business owners a step-by-step formula to taking their businesses to the next level.

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