by cdaaccounting | Dec 26, 2021 | Business Deductions
Are you at the point in your CDA Idaho business sales career were hiring an assistant would earn you more money? The number-one objective of salespeople is to he and breathe their ABCs, Always Be Closing. If you’re not closing, you’re not going to be in business, it’s just that simple.
Free up Your Time to Close the Deal
Some aspects of selling cannot be placed in the hands of an assistant, but many can. Free up time to sell and close by delegating time-consuming tasks associated with selling by hiring an assistant, even if the assistant’s wages come directly out of your pocket. The rich don’t get richer because they are better than your Coeur d’Alene Idaho business, they get richer because they have learned to concentrate on what they’re the best at and that makes them the most money, while delegating lesser tasks and responsibilities to assistants.
by cdaaccounting | Dec 20, 2021 | Business Deductions
This is a short-term financial analytical tool calculated by subtracting current liabilities from current assets. To determine what is a safe and comfortable cushion to cover the debts that may come due, this figure needs to be compared to the cash flow of the CDA Idaho company as well as to prior years of data.
One of the most significant uses of working capital is inventory. The longer inventory sits on the shelf or in the warehouse, the longer the company’s working capital is tied up.
by cdaaccounting | Dec 17, 2021 | Business Deductions
Changing your Coeur d’Alene Idaho business prospect’s expectations can be an extremely powerful closing tool, but one that does require much practice to perfect. For example, most people will enter a shoe store to check out what’s new in footwear and at most expect to purchase one pair of shoes.
But what if the Idaho shoe salesperson focused on changing the prospect’s expectations? Instead of focusing on selling shoes, the focus would be to persuade the prospect that purchasing more than one pair of shoes would be a wise decision for whatever reason is valid at that point.
This technique works because when we have determined our expectation prior to shopping or making a purchase, we have set the parameters of what we expect will happen and what we expect to purchase. When that expectation is suddenly changed or influenced by a professional persuader it throws our thought pattern out of whack and, more importantly, changes our built-in defense mechanisms to salespeople, clearing the path or opening our minds to new ideas.
The easiest way to shift expectations is to tie in an excellent reason for the CDA Idaho business prospects to forget about why they are buying and motivate them to buy more than or something other than what they expected to purchase. The reason that is created to change expectations has to benefit the buyer more than anything else does in the sales equation. This could be a discount for buying more or a relevant incentive, such as buy the two pairs of shoes and receive a free ticket to a local running clinic or seminar. Once you have established what the prospects’ expectations are you can then devise a plan to throw them slightly off balance by introducing something that will greatly change their expectations and in doing so greatly increase your odds of closing and at a higher value.
by cdaaccounting | Dec 2, 2021 | Business Deductions
The best way to get to know what your Idaho business customers want, and need is to build individual client files on each of them and update the files regularly. Building client files can really pay off simply because they make such a wonderful marketing tool; you have access to the information you need at your fingertips to make or propose a special offer based on each individual client’s needs or wants. Get started by asking every new customer to take a few minutes to complete a form.
Ask questions on the form that can be used to determine what your customers really want, or problems they need addressed, along with their contact information, especially an e-mail address if you can get it. Offer a small incentive or gift to customers who take the time to complete the form and ask them if you may contact them by phone, fax, or e-mail when you have new or special offerings that you think will benefit them. Most people will be more than happy to take the time to complete the form and receive these offers, because your Idaho business is taking a true interest in what they want. And isn’t that what we all want?
by cdaaccounting | Dec 1, 2021 | Business Deductions
A clever way to increase your Coeur d’Alene Idaho business retailing revenues and profits is to give potential customers access to goods that they could not otherwise afford by creating a rental program. For instance, a retailer of high-end woman’s fashions could set aside a few exquisite evening gowns and start an evening gown rental business to complement sales, much like rentals of men’s tuxedos.
Many women need access to such formal wear for special occasions, but all cannot afford to purchase such fashions, especially considering the limited number of times the garment might be worn. This example would give these women access to what they need now and more importantly to the retailer, potentially these same people will become buying and repeat customers down the road as financial circumstances change. Likewise, a retailer of camping equipment such as tents and the like could start a rental program for camping equipment, once again appealing to customers who do not have the financial means to purchase the equipment or for the person who camps occasionally but not enough to justify purchasing equipment.
Added benefits of creating a rental program include access to a larger potential customer base, building customer loyalty for future purchases, increased customer referrals, and maximizing current resources for your Idaho business.