Ask the Accountant… Question: When I enter my credit card charges or bank entries, I don’t always know where to put them in QuickBooks. Do I have to wait until I know before entering them? Answer: QuickBooks has an expense account that allows you to “park” an entry until you can figure out where it…
Read More
I have had the wonderful opportunity to personally get to know thousands of people in our industry. Truth is that most of them never became all they could be because of fear. Fear of making sales calls. Fear of learning new product lines. Fear of asking for referrals. Fear of introducing yourself at a networking…
Read More
Recently, I spent 10 days on a cruise that featured Esther Hicks, who has written many books about the law of attraction and appeared in the original version of the 2006 film, “The Secret.” Over the course of my next few blogs, I will share some of my learnings. First lesson: The law of attraction…
Read More
Recently I had a great conversation with a very successful distributor owner. He is only in his 50s, but is ready to sell his business. He has made great money in his years in the business. No doubt he could make much more. When I asked why he does not keep growing the business and…
Read More
As a distributor, you are looking to be a problem-solver for your clients. If you can come up with a solution, you become the hero and deepen your relationship with the account. Since we know that a 5% increase in customer retention can lead to 25% to 95% increase in profitability (Bain & Co.), these…
Read MoreA while back I asked if it was time to re-think the structure of your sales and client facing teams. Maybe you’ve had some reservations about how to make the transition. If you’re like many company owners, you’ve got an experienced group of sales folks who’ve been selling for years and have some great accounts. They undoubtedly have been with you for years and are great people. They provide the service your clients expect and that has helped to build your company to what it is today. Your frustration though…
Read MoreIn her best-selling book, “The Life-Changing Magic of Tidying Up,” author Marie Kondo identifies high levels of clarity and focus that result from eliminating unnecessary items from our personal and professional lives. Removing “clutter” brings with it an almost overwhelming sense of relief and an ability to spend more time and attention on the things that matter most. The same principal can be applied to our quest to make more efficient use of our time. To “de-clutter,” we must first identify and yes, write down how we spend our time…
Read MoreImagine working on a big, big, big order.* *By “big,” I am talking about income equal to six months of what you earn now. We’re. Talking. BIG. That is what I was working on. A large printer wanted their inside sales team trained. I’d flown thousands of miles from home to meet the client, the team he wanted me to train, and the other players involved. I’d come up with a plan for how I was going to turn the inside sales reps into sales monsters. It was typed into…
Read MoreAsk any busy executive for a list of their most pressing needs, and having more time will probably show up among the top three items. No surprise. Getting a handle on this important but elusive idea requires a different way of thinking. The paradox of time is that we have all there is. How is it then, that there never seems to be enough? The notion of “time management” is a flawed concept, since we really can’t manage time, we can only manage ourselves, our activities and most of all,…
Read MoreCompanies typically don’t go out of business because they lose money in a month, or a quarter, or for the year. They go out of business because they run out of cash. It can just as easily happen to those companies who are making a profit. These operators sometimes lose sight of the fact that cash flow and showing a profit are not the same things. As Joe Becker would always say, “Cash is king!” And he was right. The cash burn begins the moment you get the order. Paper…
Read More