Importance of Business Acumen in Sales

What is that one thing that sets roof installation sales leaders apart from everyday reps? Why is it that some people are good and very effective in closing deals while others are not? Why is it that some reps are able to skyrocket their career growth so quickly? This is where business acumen comes in. Business acumen refers to the ability to combine experience, perspective, knowledge, and awareness to make sound business decisions. It is a practice of good judgment and the capacity to consider a holistic and long-term view of organizational needs.

There are many reasons why salespeople need business acumen and here are some of those reasons.

Becoming a better internal collaborator

Today’s world is highly connected and being a lone survivor in the area of sales will never work. Salespeople need to work within the context of their organization as a whole. If you close a new business by regularly offering huge discounts, you might hit the sales numbers and impress your manager but doing so will put the finance department in a huge fix. The salesperson will win because they have closed a deal, but the implementation and customer success teams will struggle to deliver on those promises.

Helps in understanding complex prospect situations

If you want to develop a good understanding of product features, service packages as well as business benefits, then a client may visit a site. However, there is something more they need from you, and that is guidance and assistance. You need to have a good understanding and consult with your prospects to understand their perspective.

To have a full understanding of business issues and opportunities, there are certain skills you need to develop. Here are important elements that can help you on matters of business acumen.

Assessment

You should be able to look at business situations and easily identify what factors come to play and how they can fit the big picture. If you are experiencing a high customer churn rate, you need to look at any issues facing your customers and have them resolved within the shortest time possible. If your company worked on a recent price change, chances might be your customers are churning because of those issues.

Long term vision and discipline

You need to think beyond daily outreach goals and quarterly numbers. You also need to consider the company’s yearly and long-term goals and align your actions and behavior to support your goals. If your company’s goal is to attract a smaller group of more qualified and high-end customers, ensure your goals are equally aligned. You can challenge yourself to read books about enterprise sales, or even find an experienced mentor who is really good.

Emotional intelligence

Business acumen is not only about meeting your own needs, but meeting the needs of your clients and company at large. You need to have a keen understanding of your clients, know what they might need, and work towards giving them solutions tailored to their needs. It is important for you to also learn about organizational processes.

How to Market to Improve your Digital Presence

We would be largely right to assume that a major part of today’s marketing for any towing company and other businesses is vastly digital. Consumers and businesses alike are almost always online and on the go. You want to be able to reach your prospect, observe their behavior, and how they interact with your business. But when you are growing a business, the digital landscape seems to be ever-changing. You can become easily overwhelmed by a lot of things you are required to handle.

Digital Marketing Strategy

A digital marketing strategy is a plan that helps your business achieve specific business goals through carefully selected online marketing channels be it paid, owned, and earned media. Digital marketing involves a series of actions you plan to take to achieve your overall marketing goal. Digital campaigns form the building blocks and actions within your strategy that help you to achieve your goals.

When creating a digital marketing strategy, here are some important aspects to put into practice;

Build your buyer persona

For any marketing to take place, the first step starts by identifying who you are marketing to. You need to start by building your persona. A buyer persona represents the ideal customers that you create as a result of researching, surveying, and performing interviews. The information you have should be based on real data and not assumptions, else your marketing strategy will move in the wrong direction.

Identify your goals

You need to identify your goals and the digital marketing strategies you will need. If you have a business goal of increasing revenue say by 20 percent, your marketing team might need to generate 50 percent more leads via the website and other methods. Whatever the digital marketing goal you set, you must be able to measure its strategy so as to know what is working and what needs to be improved.

Evaluate your existing channels

You will need to evaluate your existing digital channels and assets. It is important to determine what to incorporate in your strategy as having an evaluation of the big picture helps you not to get overwhelmed. Gather what you have and put it into respective categories to understand what you have as well as what you need to get.

Audit your owned media

At the heart of digital marketing is owned media and will always take the form of content. Nearly everything that your brand broadcasts will be in the form of content. Content will help you with your lead generation effort, help your brand online, and turn prospects into customers. If the content you post is SEO ready, it will help with boosting organic traffic. Whatever your digital marketing goal is, you must be able to include owned media and audit it appropriately.

You will then need to bring your digital marketing campaign together. This happens after you have done all the research and planning. You must have a solid vision of the elements that will make up your digital marketing strategy.

Customer Success Metrics That Matter

Many organizations judge the health a business through the productivity of its customer support organization. It can be on areas such as how many ticket reps are closing; how many emails reps are sending among others. Companies such as Virginia Beach towing service have been doing exceedingly well when it comes to customer service. Customer success metrics helps managers to determine whether their reps are doing work in the right way, and also know the areas they are falling short of delivering the right results.

Here are important customer success metrics you should always track.

Customer health score.

Customer health score might sound obvious, but that is not always the case. Beyond answering customer questions, tickets and emails, are customers seeing the value from your products and services? How often are your customers using your products and services? How successful are they after they purchase your product? What type of impact does it leave on the overall business? Customer support goes a long way beyond just responding to customer inquiries, but also involves looking into the products and services customers deliver.

Net promoter score

Customer satisfaction goes beyond how a customer feels towards support reps, but also includes feelings customers have towards a brand and the product itself. To evaluate customer satisfaction, you will be determining how contented your customers are while interacting with your business. Customers who are happier with the experience you are offering them are more likely to return and do business with you.

Qualitative customer feedback

Another important thing you should look at is your customer feedback. What are your customers saying about you and the services you offer to them? What do they like most or dislike about your business? Customers’ needs to be assured that they have a voice. You need to offer your customers a chance to give feedback and provide insights that would otherwise lead to meaningful and long-lasting relationships. Customer success managers can use surveys and questionnaires to collect qualitative feedback.

Customer churn rate

Customer churn is a great metric to measure. To calculate churn rate, you will first need to determine the timeframe for which your data applies. It can be a week, a month or even a year. Then determine how many existing customers where there at the start of this period as well as the number of customers that churned during the same timeframe. You then divide the number of churned customers by the total number of existing customers to determine the churn rate.

Monthly recurring revenue

Monthly recurring revenue is a great metric to use in determining how much in terms of numbers, your customers are spending, in terms of the growth your business has had. This metric will outline the amount of money that your customers are spending on your products and services for each month. You can compare this value over time, to determine whether your customers are succeeding with your products or not. This metric can be particularly useful especially when running a SaaS business that operates on subscription model.

Types of Crisis Your Company Could Face

No one plans for mistakes, but they inevitably happen. When things go bad, we always want to have them fixed as soon as possible. However, when https://belairtowtruck.com/ or any other business gets into a crisis, it is never that easy to fix. While no one wants to anticipate failures in business. Businesses need to be ready to handle crises in the most effective manner, should they occur.

Business crises occur when something unexpected puts the stability of a business or company at risk. These problems can either originate internally or can be brought by external factors. The easiest way to identify a business problem is to have a holistic view of it and investigating what type of danger the problem poses to the business.

There are different types of crises that normally happen to businesses, and include the following.

Financial crisis

This type of crisis happens when a business loses value and the company can’t afford to pay its debts. This can be caused by a significant drop in demand for products or services. If this crisis happens, the company must move funds around to cover for immediate short term costs. It will also need to restructure its revenue sources and look for new ways to generate long-term income.

Personal crisis

A personal crisis happens when an employee or an individual who is associated with the company is involved in some form of illegal or unethical behavior. It can be within the workplace or around an employee’s personal life. It can be an adverse situation that sets a serious backlash against the company. If such happens, you need to identify the scope of the situation and determine the appropriate disciplinary actions to be taken, and if necessary, provide a verbal or written statement addressing the situation.

Organizational crisis

Organizations crises happen when a company has significantly done wrong to its consumers. Instead of creating mutually beneficial relationships, a business uses its customers as a means of benefiting and exploitation.  It can be in the form of withholding information, misusing managerial powers, and exploiting customers. The best way to address the organizational crisis is through changing company culture.

Technological crisis

Today’s world is heavily driven by technology and businesses rely on the internet to perform a lot of their tasks. When technology crashes, there will be a lot to worry about for businesses. Ecommerce sites and related industries lose millions of potential leads when their servers break. Such a crisis can pose a huge loss of revenue and affect a company’s profitability. The first step to managing these forms of crisis is to resolve the issue immediately with your IT team.

Natural Crisis

Natural crises happen as a result of the devastating effect of natural calamities. While it is usually rare, natural disasters such as earthquakes, hurricanes, tornados among others, can hurt a business. Your company may be located in an area that is prone to extreme weather and if that is the case, you need to be prepared with an emergency response to address any eventualities. The best way to handle a natural crisis is to be proactive and have a contingency plan in place in case your area of business operation is rendered unusable.

Top 5 Must Read Books for Every Aspiring Investor

readingYou have big dreams and goals, you want to become a business leader or a successful entrepreneur, but how do you go about it? It is very important for your adults and all professionals to start investing early. With investments, you stand a good chance to let your assets generate you more returns with time. You can invest in stocks, real estate, bonds, and commodities or just open a business such as Chantilly Tow Truck. But while it is very important to invest, it is more important you invest wisely. One of the best places you can get investment guidance and mentorship is through reading books. Books can provide invaluable business and finance insights to skyrocket your investments.

If you are serious about becoming a millionaire, you need to become smart about investing and making good financial decisions. We have compiled a list of important investing books every aspiring investor needs to read to set themselves on course to their financial goals.

Principles, By Ray Dalio

The book; Principles – explains how setting your life up around a set of solid core principles can have a simplified effect on your decision-making process. This helps to keep you off from second-guessing yourself. It also gives you the tools to be analytical and successful and allows you to live your best possible life. You will first need to determine what is important for you in setting up and creating your business. You will also learn other values that make sense such as transparency and creating an environment of trust.

Money: Master the Game – Tony Robbins

This book is a must-read for anyone who wants to make their money work for them and achieve the ultimate financial independence. This books walks you through the necessary steps to turn a small investment into a huge wealth portfolio. This book walks you down on how to set up a freedom fund which acts as your investment fund. You need your money to be building interest year after year and not sitting idle in a low-interest bank account.

Thinking, Fast and Slow – Daniel Kahneman

thinkingThinking, Fast and Slow is a book written by Nobel Prize winner Daniel Kahneman. This book shows how easy it is for humans to get away from the rational. The truth is that we as humans are subject to many biases. Entrepreneurs need to be particularly aware of these biases as we normally tend to see things from our own perspectives. This book details how our behavior is determined by two very different systems. One is impulsive and the other is automatic and intuitive and all these operates within out intuitive control.

The Intelligent Investor – Benjamin Graham

The Intelligent Investor book will give you a profound understanding of what goes around in the world of finances. It will give you vital financial lessons and theories so that you can invest wisely without the risk of losing it all. Warren Buffett says this is the book that shapes his professional life. It is the book he used in long-term investing in the stock market. The concepts presented in that book are still very valid in today’s investing world.

 

 

 

 

 

Why You Should Read Books while Traveling

readOver the last few years of my life, I have been continuously reading books, and this has had a massive improvement in my life. Reading books has helped me gain invaluable knowledge about investing in assets such as real estate, stocks, bonds, and more importantly businesses such as  http://www.mtowing.com/towing-service-in-centreville-va. Most people do not get time to read books. Unless you create time to read, you will never get it. Continue reading “Why You Should Read Books while Traveling”

How to Free Your Mind    

free mindAt times, you might have thoughts that you wish rather not to have. These might be thoughts such as worries, recurring concerns, little niggles, among others, which don’t go away. The good news is that you can free your mind if you start listening to the voice in your mind. You need to pay particular attention to any repetitive and unwanted thought patterns that are playing in your mind. When you listen to yourself, do not judge or condemn what you hear, but instead try to accept the reality.

The best way to free your mind from unwanted thoughts is to engage it with other ideas that remove or cause the unwanted thoughts to fade away. Here are simple and effortless ways to free your mind immediately.

Forgive

The first step towards freeing your mind is reconciling with your past so that it won’t affect your present and future. Make peace to yourself by forgiving any person you might have differences with. When you have a grudge with someone, you release yourself from negative emotions and thoughts and set yourself up for prosperity. With a grudge, your heart is heavily burdened to the point that nothing productive comes from it when you think about someone you hate.

Meditate

meditateFor thousands of years, meditation has been used to free and clear the mind. Mediating is quite easy. You only need to sit comfortably and allow your thoughts to enter your account and pass through without necessarily engaging them. You can meditate for as little as 10 minutes, and that will be enough to free your mind from persistent thoughts.

Practice Mindfulness

With mindfulness, you try to be aware of something. Instead of reacting to a circumstance, you calmly examine a feeling of the situation and accept it for what it is. You seek to remove judgment from the view of your world and yourself. When you have negative thoughts, you should not react to them. You instead view them for what they are, and any physical sensation they produce. This takes away power from these thoughts and makes it easier for you to release them.

Be Grateful

It can be hard to be harmful if you choose to focus on the positive. From positive psychology, we get to learn that the power of an attitude of gratitude can have many benefits to our mental wellbeing. When you continuously focus your thoughts on those things that are good in life, your negative thoughts begin to become less in your life, and eventually, they fade away from your mind. Being grateful is not just about giving thanks to people and positive elements in your life. It only requires a shift in our overall perspectives and perceptions. With thankful thoughts, you can look at your past including painful events.

Be Free

One of the most significant issues that we face in our life is self-acceptance. We give so much love and respect for other people, yet we forget to accept and love ourselves. The assumptions we take and opinions we hear from the outside world can have many differences in our lives. In the end, what matters is who we are and what we stand for. You should not allow people to distract you. Be free to yourself and accept yourself the way you are.

Why You Should Travel the World Right Now

 

travelThere are plenty of things you are bound to get by traveling the world. When you explore different places, you set yourself up to meeting new friends and gaining new experiences as well as stories. When you start studying, you get a better understanding of people on aspects to deal with their culture, history as well as the background.

Various studies have shown that traveling can increase your overall health as well as enhance your creativity. These are specific reasons to mean that you should take some time off your busy schedule and tour the world to see the beauty it presents. If you need more convincing points, here are more reasons to travel the world.

 

Improve Social and Communication Skills

One of the primary benefits of traveling especially to areas that do not represent your native language is that you get to learn how to communicate with different people. This communication may come as a result of you expressing yourself to strangers on where to go eat, or where to catch the next bus terminal.

 

Traveling Improves Your Health

Traveling improves your health in many ways. This can be through cutting stress or lowering your chances of developing heart disease. You might be working and sitting on a chair all day long in your workplace. When you sit all day long and do not exercise, you’re setting yourself up for illness. An excellent way to take stress off your busy working hours is to travel and meet new experiences.

 

Cultural Diversity

travelingThe world is becoming more connected than ever and being culturally sensitive is key to flourishing in this globalized world. It can be easy to say people from an X country are like this, but it is particularly important to tell why they behave in such a manner. Traveling sets yourself up to understand the cultural norms and values that can be very important to survive in different parts of the world. You get to learn people and appreciate them the way they are.

Networking

Traveling the world sets yourself to endless networking opportunities. You get to meet new people and make new friends out of the way. If you are interested in working abroad, you must first understand the importance of networking. Attending as many new people as possible will open you up to have an enjoyable and memorable stay. You will realize how little you actually knew about the world, and also get to understand that we all share similar needs.

Top Reasons to Visit Thailand Today

templeAre you ready for your next vacation getaway to a new place that is culturally relaxing and stimulating? If you are looking forward to escaping to foreign, exotic and very affordable land, then there is no better place to visit than Thailand. Stats show that Thailand welcomes more than 35 million tourists annually. Visitors flock to this Southeast Asian country for a couple of reasons. Let us narrow these reasons to see why you should visit Thailand today.

Island Paradise

Thailand is an exact definition of paradise brought up by its islands. Due to its dreamy coastline, island hopping is among the top activities tourists engage in. You can hop from one island to another swimming, sunbathing or just relaxing as you enjoy sipping coconut milk.

Thai Food

Thai food is well known worldwide to be among the most delicious. It should be even more delicious in Thailand than trying it in other parts of the world. The only way to try is in Thailand is visiting Thailand. Some of the best foods come from the street vendors who serve the spiciest and tastiest delicacies in the country. You can find stalls where people are located and head there to enjoy what is being served.

History

thailandThailand is a country full of history as described by its historical ruins. Sites such as Lopburi, and Ayuthaya open the doors into Thailand’s ancient past. In these sites, you can find ruins dating back many centuries ago. You can visit ruins with history from when Khmer and Burmese ruled Thailand. These cities make a perfect getaway for escaping the busy towns.

Water Activities

There are great water activities you can do in Thailand top of the list being the excellent diving. Thailand hosts some of the most magnificent diving sites in the world. You can dive near Ko Tao, Phuket, Surin Island and the famous Similian Islands. From these islands, you can enjoy the magnificent colored fish and coral. Thailand is also one of the cheapest places in the world for those looking forward to learning diving.

Jungles

Thailand boasts some of the most spectacular lush jungles. Visitors get a chance to trek in the northern side of the country and enjoy magnificent views of lush tropical jungles, hill tribes, and wildlife. Some of the best trekking locations include Khao Yai Park, Chiang Rai, and Khao Sok. Khao Sok is particularly famous for its limestone and caves.