Posts tagged ‘Becoming a Sales Superstar’

There are eight questions that you -as a salesperson- should know the answers about your customer. An added benefit is to learn the answers regarding your own company. Then and only then, will you be in a position of strength. Where does this strength come from – understanding the financial health of your customer.

Let’s exam the eight questions that hold the answer to your customer’s financial health. The eight are as follows:

  1. What were your customer’s sales during the past year? Did they grow, have a record year, or hold their own even in the economic downturn. You should learn about the quality of sales and where do they sell – domestic or international? Which brands or markets are strong for your customer. Do you sell into the growth or declining arenas for this customer?
  2. Continue reading ‘Eight Questions to Know Your Customer’s Financial Health’ »
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Posted by Voss Graham on March 20, 2009 at 5:12 am under Business Acumen and Metrix, Sales.
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One of the most important keys for a company’s profitability and cash generation is Inventory Velocity. If you understand this relationship you will be on your way to financial success. So what is inventory velocity?

“Inventory Velocity – How many times during the year does the inventory turn over? Total sales divided by the value of inventory is the equation used to determine the velocity of inventory turnover.”

While the financial people will understand this definition, how well do the sales people and inventory buyers understand this rule? Here is the rule of thumb: Continue reading ‘Understanding Inventory Velocity – Business Acumen 101’ »

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Posted by Voss Graham on March 6, 2009 at 5:00 am under Business Acumen and Metrix.
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My friend Ron Karr wrote an outstanding article in his latest newsletter that I wanted to share with you. So here it is:

Think about this. If you reduced your fees or prices by 20%, you would need to increase your sales volume by 400% to make the same profit you were making before the price cut. This is what Donald D. Juschartz, County Extension Director at Michigan State University, discovered in his study of how Price vs. Volume relationship may alter the retailer’s thinking.

In declining markets, it is very tempting to lower one’s prices to hold on to business, especially if your customers are demanding it. Yet, some are probably lowering prices too fast too soon. And in some cases, it may not even be necessary. Realize that for every price reduction you agree to, you are going to have to sell more to make the same. Continue reading ‘Increase Profits and Revenues in Tough Times’ »

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Posted by Voss Graham on February 5, 2009 at 11:00 am under Sales.
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This is the final step in becoming a sales superstar. Actually, the real question is: “Is Confidence really the First step rather than tenth?” There are several reason for Confidence being the first step and like wise there are several reasons it is the tenth. No matter which side of the debate you are on – Confidence is the lead element in your ultimate success. Continue reading ‘Becoming a Sales Superstar – Step 10 – Confidence’ »

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Posted by Voss Graham on January 20, 2009 at 4:55 am under Sales.
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