A Top Business Mentor, Elaine Love Interview

When you hire salespeople on commission basis, you’re hiring the wrong type of people. For commissions you’re likely to get the know-it-all glib hotshots with all the answers who are impossible to work with in a team environment. They are the prima donnas and are not interested in being part of a team. They are the people who suck it up and when the time is right to quit, they do and get into business to be your competition. They are motivated by money and driven by their own hidden agendas to compete with your company and win… even at the expense of your clients.

Spending one whole day on AngelList every week will force you to rethink how you are spending your time. You will need to start thinking about creating solid systems and leveraging everything you do so that you can get more done in less time. You never know, you may even discover that there is much more business than you ever realized and that it is time to add more people to your company!

Managing a sales force by sales quota is just as retarded as managing an army by a “kill quota” or managing hairdressers by the total length of hair they cut. For an army to kill enemy soldiers to fulfil its quota there must be an enemy, and someone, usually a politician, has to actually declare war. It’s similar in business. The sales force can only fulfil its quota if the upper management of the company made the right choice with the services and the target market.

Four. TGIF! (thank the Lord it’s Fri.), employ a Friday afternoon to tie up loose ends and finish of those tiny roles that have been continuing all week.

Take a hard look at where you are spending your time. For example, how many networking events do you attend a week? Being involved in your community is one thing, but joining every organization for the sake of exposure is a whole different ball game. Here are some questions that will help you quantify your involvement. Are you strategically connecting for your business or are you just chit chatting? Are you committed to participating in this organization or are you just showing up? Can you quantify a Return On your Investment (ROI)? If not, you may want to rethink your perception of networking.

Database – Take the prospect information out of the shoebox and put the information onto a database. There are many inexpensive contact management software packages available. They will make your prospecting 10 times more efficient and effective.

It’s important to keep an open mind and think outside the box when you’re looking for grants. Not all grants come in the form of cold, hard cash. You might be able to find funding that will pay for the training you need, business classes or get a scholarship to go to your local community college.

When you engage a strategic business development approach to networking you look at the interests and needs of partners and do your level best to get the kit, or services they need. Listen to what people want, go find it and then supply at a profit. Keep it simple stupid would be a fairly good appreciation of what that is about. In a short time a business can be up, running and the train will be on the way. This is the start of a plan and I hope to enlighten further as time goes on.