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CEO Advisor® Newsletter
May 2015

Hiring, Building and Managing
 a Sales Team
Hiring, Building and Managing
 a Sales Team
Hiring, Building and Managing
 a Sales Team
Hiring, Building and Managing a Sales Team

CEO Advisor Can Help You Build Your Sales Team

In many small businesses, you may be the sales manager, marketing director and salesperson all in one. As you grow, you have the need for additional people to handle specialized jobs. One of the most critical positions you will need to hire is a sales manager, because sales are what drive your company's growth and profits. All other things being equal, the more well-managed salespeople you have the more sales you will generate. Adding sales people and improving your sales staff team with training and managing are essential to growing your company.

Measuring Sales Productivity

Tracking sales by salesperson is an essential part of effective sales management. To track your sales team properly, you will need to set goals by creating a Sales Plan with sales goals by salesperson by month for the fiscal year. Then, communicate these goals to each salesperson regularly and hold each of them accountable for meeting their goals. A Custom Relations Management (CRM) software is that is kept up to date and monitored daily is critical to meeting your sales goals.


Hiring Salespeople

Adding salespeople can result in steadily increasing sales. This can free you up to better manage the sales team and spend time and energy on other critical tasks. Hiring salespeople could also hurt sales, erode profits, damage valuable customer relationships, and destroy your image in the marketplace. The difference between these two scenarios is the difference between hiring the right salespeople and the wrong ones. CEO Advisor, Inc. has a 10-step approach to assist its' clients in making sound, profitable sales hires.


Salespeople have the most daily contact with your prospects and customers. They need to be pre-screened, interviewed three times, have their references checked and have a background check performed on them. To hire the right salesperson for the job, you have to have a clear understanding of what you need with a concise job description. Do you want someone who is a closer or one who takes more of a consultative sales approach? Do you need someone fully trained and experienced, or hungry and willing to dial 100 times a day to secure appointments.


Good salespeople want to be treated fairly and with respect. This starts with disciplined and consistent training. Misunderstanding your company's compensation plan is one of the main reasons for sales staff dissatisfaction and turnover. For all potential new hires, explain precisely how they will be compensated. In addition, clarify the territory, your sales goals and performance expectations, the training you will offer, and the sales tools you will provide including a CRM software solution, target lists and leads. You should also provide candidates with a thumbnail description of the market and the competition.


Once you initiate the salesperson search, consider the following:


  1. Look internally. You may have technical, support, operations or administrative people who would and could successfully move into sales. Post the ad internally or discuss the opportunity with employees that represent a fit.
  2. Ask for employee referrals. Chances are your existing employees know the kind of people who would be great salespeople and happy working for you. 
  3. Network with suppliers, customers, colleagues, advisors and social contacts. This can be cheaper, faster and more reliable than advertising to the general public.
  4. Check with professional associations. They may have job lines to help members find employees.
  5. Online advertising. The speed, freshness and searchability of online job sites make them attractive options for both candidates and employers.
  6. Check with your local universities. You may be able to hire a recent graduate who's enthusiastic, effective and less expensive than a seasoned professional, or an intern for lead generation or sales appointment setting.


Types of Salespeople

Direct Sales Team
This is the heart of your sales team and where you will leverage your sales for growth. Be disciplined in your hiring and training to increase your odds of successful hires. Make sure you hire salespeople that are hungry to get on the telephone, aggressive to gain meetings and close sales, motivated by money, are professional, coachable and experienced.


Manufacturer's Reps or Independent Contractor Salespeople
Manufacturer's representatives and agents are terms used to describe independent contractor salespeople who work on commission. Independent contractor salespeople are not on a base salary, they receive a percentage of what they sell. They offer a practical, cost-effective alternative to a direct sales force for many growing companies. There are more than a half-million reps in North America, most selling to targeted markets in select geographic regions.


Telemarketers/Inside Salespeople
Telemarketers who contact prospects and customers by telephone can provide customer service, perform sales, as well as, take orders. One of a telemarketer's most useful jobs is generating qualified leads. Because you contact customers by telephone, it's easy to track results from a telemarketing effort. You can build your own telemarketing operation in-house by implementing a CRM software and secure lead lists, setting goals and managing the sales effort.


Sales Managers
It's never easy to hand over responsibility for an important management job to someone else, but hiring an effective sales manager is a critical step to growth. It's unreasonable to expect you to be able to make 30 - 40 sales calls a day, direct other salespeople and run the company at the same time. Once you hire a sales manager, you'll be able to greatly reduce your sales calls, eliminate managing salespeople, and devote the balance of your time to the jobs you're uniquely qualified to handle, like devising the company's strategy, securing funding, making opportunistic acquisitions, developing new products, etc.


A good sales manager has to be able to: 


• Manage salespeople and train them effectively
• Develop sales strategies and plans
• Set sales targets for the sales team
• Monitor sales performance
• Personally handle key customers
• Prepare sales reports and monitor and track the CRM
• Report directly to you or a superior


A sales manager should have good leadership and communication skills and have a proven record of growing sales in past positions.

CEO Advisor, Inc. is a specialist in helping companies build and manage their sales team so they can grow to the next level.  We address your specific needs with hands-on action and seasoned advice. Contact the business advisor Mark Hartsell, MBA, CEO of CEO Advisor, Inc. at (949) 629-2520, by email at MHartsell@CEOAdvisor.com or visit us at www.CEOAdvisor.com for more information.

CEO Advisor, Inc. Advises Center for New Medicine on Strategy and Growth
Critical Skills for the CEO/Owner
The Wharton Business School newsletter, published by The Wharton School, University of Pennsylvania did a recent poll of executives and business owners. The results below show the four most important skills that would strengthen a CEO's performance.
Strengthening what skill would most improve your performance?
Leadership - 33%
Time Management - 28%
Negotiating - 22%
Understanding Your Financials - 17% 
1. Leadership
Leadership and execution is the key to success and achieving your goals. Leadership requires planning, organization, being proactive, having a crystal clear understanding of the business both financially (quantitatively) and operationally (qualitatively), hiring and managing people of multiple generations and cultures, and creating a culture of accountability to grow your business to the next level.
2. Time Management
Time management is the Achilles heel of most CEOs and small business owners. Not just managing time on a calendar and working 60 hours a week to keep up, but real strategy and planning to focus and structure your time to impact your business in a disciplined manner. CEO Advisor, Inc. works with its CEOs and small business owner clients to set goals and priorities, and truly excel in both leadership and time management.
3. Negotiating to Success
Negotiating is the Holy Grail in business - with customers, prospects, vendors, employees, etc. We focus deeply on negotiations using some of the top techniques used by military leaders and business people. Your sales team can benefit tremendously from sales training and negotiating skills training from securing the initial meeting to negotiating price effectively to closing large deals. Strengthening your negotiating skills can yield a 100X return on your investment. If you are not a master negotiator and salesperson, invest in your negotiating skills and prosper in 2014 and beyond.
4. Understanding Your Financials
If there is one New Year's resolution that every CEO and small business owner should commit to is gaining a thorough understanding of the financials of your business. If you don't, you are flying blind! This includes your Profit & Loss Statement (Accrual and Cash basis), Balance Sheet, Financial Ratios, creating a 2014 Financial Forecast, and learning to analyze and understand how to positively impact your Gross Margins and Net Profit, as well as, pinpointing early signs of problems. CEO Advisor Inc. spends the time to ensure every client not only understands but uses their company's financials in growing their business to the next level.
Contact Mark Hartsell, MBA, CEO of CEO Advisor, Inc. today at (949) 629-2520 for a no cost initial consultation, by email at MHartsell@CEOAdvisor.com or visit us at www.CEOAdvisor.com for more information.
Critical Skills for the CEO/Owner
The Wharton Business School newsletter, published by The Wharton School, University of Pennsylvania did a recent poll of executives and business owners. The results below show the four most important skills that would strengthen a CEO's performance.
Strengthening what skill would most improve your performance?
Leadership - 33%
Time Management - 28%
Negotiating - 22%
Understanding Your Financials - 17% 
1. Leadership
Leadership and execution is the key to success and achieving your goals. Leadership requires planning, organization, being proactive, having a crystal clear understanding of the business both financially (quantitatively) and operationally (qualitatively), hiring and managing people of multiple generations and cultures, and creating a culture of accountability to grow your business to the next level.
2. Time Management
Time management is the Achilles heel of most CEOs and small business owners. Not just managing time on a calendar and working 60 hours a week to keep up, but real strategy and planning to focus and structure your time to impact your business in a disciplined manner. CEO Advisor, Inc. works with its CEOs and small business owner clients to set goals and priorities, and truly excel in both leadership and time management.
3. Negotiating to Success
Negotiating is the Holy Grail in business - with customers, prospects, vendors, employees, etc. We focus deeply on negotiations using some of the top techniques used by military leaders and business people. Your sales team can benefit tremendously from sales training and negotiating skills training from securing the initial meeting to negotiating price effectively to closing large deals. Strengthening your negotiating skills can yield a 100X return on your investment. If you are not a master negotiator and salesperson, invest in your negotiating skills and prosper in 2014 and beyond.
4. Understanding Your Financials
If there is one New Year's resolution that every CEO and small business owner should commit to is gaining a thorough understanding of the financials of your business. If you don't, you are flying blind! This includes your Profit & Loss Statement (Accrual and Cash basis), Balance Sheet, Financial Ratios, creating a 2014 Financial Forecast, and learning to analyze and understand how to positively impact your Gross Margins and Net Profit, as well as, pinpointing early signs of problems. CEO Advisor Inc. spends the time to ensure every client not only understands but uses their company's financials in growing their business to the next level.
Contact Mark Hartsell, MBA, CEO of CEO Advisor, Inc. today at (949) 629-2520 for a no cost initial consultation, by email at MHartsell@CEOAdvisor.com or visit us at www.CEOAdvisor.com for more information.

When it comes to getting a bang for marketing bucks, too many business owners close their eyes, throw up their hands and resign themselves to guess work. "In today's business climate, we won't even propose a marketing strategy to our clients unless we can easily measure and track its success," states Mark Hartsell, CEO of CEO Advisor, Inc.
 
Here are seven ways to benchmark your marketing campaigns without breaking the bank or overburdening your staff: 
•Create a Focused Marketing Plan and Budget. A critical part of your Business Plan and Forecast is a well thought out Marketing Plan and Budget. Do not initiate spending your marketing dollars if a plan is not in place to track the results and Return on Investment (ROI).
•Get a Handle on Customer Profitability. Sometimes the more you sell the more you lose. Keep track of gross profits, gross profit margin and net profit, not just sales. For instance, know how much it costs to acquire and service each new customer and monitor gross profit margins carefully.
•Set Clear Goals and Define Success. Formulating a marketing strategy that articulates a set of outcomes has to be the starting point. Track results and ROI for every marketing program and cost incurred. Having goals and tracking results will enable you to increase focus on marketing programs that generate desired results and pull back or discontinue programs that do not.
•Stay Disciplined, Focused and Target Your Market. Before implementing any marketing strategy, it is paramount to clearly understand who you are targeting. Defining target markets by industry, geographic region, etc. is critical for smaller companies given limited marketing budgets. Without this focus and knowledge, even the most creative and powerful marketing campaign will miss your target and lack the impact, lead generation and ROI.
•Survey Customers by Offering a Benefit. Customer input and opinion is invaluable when building your business. Entice customers to open up to you about their likes and dislikes by offering them some type of reward for their time. A well designed and tallied survey will reap big rewards by bringing customers closer to you and enabling you to upsell and cross-sell products and services.
•Monitor Customer Communication Throughout the Sales Process. At any given time throughout the sales process, your customers' needs or attitude towards your product or service may change. You need to constantly be in-tune with your customers' expectations and do whatever you can to meet them. Implement Customer Relationship Management (CRM) software to track and collaborate on all sales activity.
•Execute and Keep Testing. Don't simply put a campaign into place and move on. Instead, keep measuring results. Try low-cost tests and then put resources behind what works and eliminate the low ROI programs. Besides the details you gain from tracking and reporting, the real test of marketing is very straightforward. If your marketing is not increasing business, change your approach. 
 
To learn how to more effectively reach your target market, call Mark Hartsell, CEO of CEO Advisor, Inc. at (949) 629-2520 for a no cost initial consultation.  

CEO Advisor, Inc. (www.CEOAdvisor.com), a leading business advisory firm in Newport Beach, CA is providing strategy, marketing and growth advisory services to the Medical Director and CEO of Center For New Medicine (www.cfnmedicine.com). Center for New Medicine is an integrative medical practice and leading provider of disease prevention and care serving residents and corporate executives in Orange County, CA.


CEO Advisor provides business advisory services affordably and effectively with hands-on work performed to assist CEOs, presidents, business owners and principal executives of small and mid-size organizations on growth, business strategy, business planning, business processes, sales strategy, sales team building, sales training, marketing, operations, finance, funding, and mergers and acquisitions advisory services to grow their businesses to the next level. As a trusted CEO Advisor® to business owners since 2004, the firm specializes in providing business consulting services in a one-to-one advisory role on a weekly basis to address specific issues and maximize sales, profits and business value to generate a substantial return on our client’s investment.


Mark Hartsell, CEO of CEO Advisor, Inc. states, “Center For New Medicine is a unique and comprehensive medical practice focused on the prevention and treatment of a broad range of illnesses and diseases. Unlike any other medical practice nationwide, Dr. Connealy and her highly skilled staff of doctors and specialists understand the desire for people today to live healthy and stay healthy. The Center is now taking further steps to research and ensure that optimal care is provided to each and every patient, while continuing to grow their practice to the next level.”


Dr. Leigh Erin Connealy, Medical Director and CEO of Center For New Medicine states, “Our focus is on disease prevention and health for life, as well as, assessments and treatments for our valued patients. We are continuing to develop and provide the best care possible so our patients live the best life possible. CEO Advisor has provided the hands-on advice to enable us to achieve our goals.”


About Center For New Medicine
Center For New Medicine is an integrative medical practice located in Irvine, CA that focuses on A) Cancer Prevention and Treatment, B) Heart Disease Prevention, C) Hormone Treatments, D) Diabetes Prevention and Treatments, as well as E) a Health for Life Strategy. For more information, call (949) 680-1880, email info@cfnmedicine.com or visit www.cfnmedicine.com.


About CEO Advisor, Inc.
CEO Advisor provides business consulting services affordably and effectively to meet the specific needs of small to mid-size companies in a wide range of industries, including software, technology, media, professional service firms, healthcare, manufacturing and many more. CEO Advisor's mission is to advise CEOs, presidents, business owners and principal executives with the needed expertise and focus, coupled with hands-on advice and work performed to grow your business to the next level. Contact Mark Hartsell, CEO of CEO Advisor, Inc. at (949) 629-2520 in Orange County, CA, by email at MHartsell@CEOAdvisor.com or visit us at www.CEOAdvisor.com for more information.

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"CEO Advisor's online and ecommerce experience coupled with their business expertise and hands-on approach is providing us with the needed advisory services to grow to the next level."


CEO, Ecommerce Service Provider

"Mark Hartsell and CEO Advisor, Inc. provide a unique advisory service for CEOs. He not only tackles high level strategic issues to assist CEOs navigate through challenging times, but Mark also gets very involved in actually addressing important issues head-on by performing the work to achieve tangible results.


Whether it is growing a business to the next level, turning a distressed company around or preparing a company for an exit, Mark's firm, CEO Advisor, Inc, provides a broad range of services and Mark is there for the CEO every step of the way."

 


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Words of Wisdom

"We are what we repeatedly do. Excellence, therefore, is not an act but a habit."


Aristotle

Greek Philosopher


Prime Minister of the U.K.