How Much Sales Is Involved With Business Development?

If you ask a group of people what they think business development is, you would most likely get a few different answers. There is even a chance that your own view of business development and sales may be used interchangeably.

Business development involves more of a strategic approach such as strategy, marketing, customer management, and partnerships; these activities encompass about 75%-80% of the approach, and sales about 20%-25%.

When I get asked the question, does business development have something to do with sales? Yes, it does. Is it related to business growth? Most definitely it does. Does it have anything to do with business strategy? There is a good chance it does.

Business development is a culmination of these different activities but most importantly, it’s all about shifting to the point of view of the client. This will provide you with that new perspective and will have you balance your efforts across these key activities that you and your client will both need and address. Whenever you conduct your business development efforts make sure to take the perspective from the client’s point of view and try to develop a deeper understanding of what their problem is. Realize that the client only cares about one thing and that’s their own group or company’s survival and the problem that they are facing. The client is only interested in you if they identify a need/problem or pain point that you can solve and provide a solution for it. It’s the kind of value that you can provide them that will enable them to consider your firm for the project.

If your firm’s approach is strictly from a sales perspective, generally, the economy of scale is to grow as large as you can. The strategy is to sell your product or service with a clear price and value directly to an identifiable individual client.

From a Business development perspective, the economy of scale is much smaller because the approach to your service is more strategic with the intent to create a partnership. It entails cultivating a relationship with the client and provide a service that could be more cyclical by working through existing partner infrastructures.

The Importance Of Custom Reports For Your Business

What are custom reports and why are they so useful?
Custom reports help you to document your business’s progress, provide you with a way of comparing that progress over certain periods and assist you in tracking your history of growth. While your profit margins each year, may give you an idea of how your business is progressing, the data that you can collect in reports can be far more beneficial to you when formulating your budget and making plans for the upcoming year.

These reports can also give an insight as to which products or services have been the most successful, and which markets you may have overlooked. In fact, you’ll find that there are many reasons to check back to the data that you’ve collected as your business grows.

More reasons why a business report can be helpful for your business:
Custom reports can also help you to create a paper trail of your past transactions and business history. These can of course be stored on a computer, and can then be made readily available should you approach a bank for a loan or even make the decision to sell your business. It’s crucial that you let someone other than yourself know where they can find your custom reports, should you be unable to access them for any reason.

Whether your business currently creates custom reports or not, it’s a good idea to get into the habit of doing so, not only because it can give important insights into your business, but also because you would be required to produce them should you ever take on a corporate label.

Annual reports are especially helpful if you’re trying to market your business or seek new clients, and as they are often made glossy and attractive to look at, they can be a great tool to use when wanting to give others a complete overview of your business. Corporations must produce these annually to comply with legal obligations to stockholders and government agencies, and many larger companies have now begun to appreciate the value of annual reports and are producing them whether obliged to or not.

Who can you turn to if you’ve never created a business report?
There are a good number of companies who specialise in assisting businesses with custom reports, and who can ensure that you make the most of the data available to you. Many tax and accounting firms offer this as part of their bookkeeping packages, and as these reports are a crucial aspect of any successful business, it would be prudent to keep them up to date.

Is Your Business Getting Enough Exercise?

“How people treat you is their karma; how you react is yours.”

This quote from Wayne Dyer highlights one of the big truths of having your own business. Your choices define what happens.

Are you exercising your opportunities to make good choices? Do they serve you and your business?

Those are questions to ask yourself, especially when you’re busy and it’s easy to slip into being reactive.

Exercise your freedom of choice to be responsive instead.

This is especially important when dealing with your customers. Make conscious choices about how you want to respond.

Customer responsiveness doesn’t just mean answering quickly, although that’s an important part of showing them that they matter to you.

Responsiveness is also about really listening, deeply listening. What is the undercurrent of what’s being said? What is at the heart of their request or concern?

Another aspect of customer responsiveness is to treat them the way they wish to be treated, as long as it doesn’t compromise your values. Adapt to their style. A good example of this is Jeffrey’s client Amy.

Jeffrey had been following up with Amy regularly, to define what she was looking for from Jeffrey as a real estate agent. It was not going well. Amy responded with short and often unclear replies.

Jeffrey likes to communicate by email. He finds it fast, easy, and productive.

With Amy’s responses, Jeffrey was getting frustrated, and he found himself firing off responses quickly and without considering the tone behind them.

Amy finds email cumbersome. She’s not a writer by nature, and she prefers to talk on the phone.

Once Jeffrey was able to step back from his own reactivity and consider, “What’s behind this difficulty we’re having?”, he asked Amy how she’d like to communicate.

He found out the phone worked better for her. When he understood what was behind Amy’s uncommunicative email style, he became more conscious of his tone again. Over the phone, they were able to finalize their agreement and get underway.

Setting this kind of example, making a new choice about how they communicated, went a long way to smooth Amy’s ruffled feathers and ease her own frustration around written communication.

And it ended with a hefty commission for Jeffrey when he was able to sell her property.

Exercising choice also comes into play when you’re considering who you’d like to work with. Your “ideal clients” are those that are a great fit for you, where you can co-create an environment that allows you to do your best work.

Those choices can make all the difference in your business income. When my client Kim and I worked on defining and choosing her ideal clients, rather than taking every project that came along, things started to shift.

She began to focus her effort around clients that were a great match for her and her business. In doing so, she found joy in those interactions. Work began to have more ease. She increased her income.

Your business is built one choice at a time. One relationship at a time, one customer at a time. Making good choices about those relationships will help your business grow and increase the impact you have.

You don’t make those choices all at once. You make them one situation at a time.

Is your business getting enough exercise? Exercise choice in your business, conscious choice that serves everyone involved. That will keep your business fit for a long time to come.

Reasons Why Your Business May Fail

According to Bloomberg, 8 out of 10 businesses fail within the first 18 months of operation. That’s a terrifying statistic if you’re a business owner. That simply implies that 80% of those who started blogging or any other online business will fail in it too.

Why do businesses fail? What can make your business fail? How can you avoid them?

1. Lack of Planning:

For many individuals, they desire to be engaged in a business just to make money or to be able to brag about it. They have no clear-cut idea where they want the business to go. They only plan to start a business but they do not do real planning on how to achieve it. Your plan is like your aim. Planning involves everything you need to do and put in place to get to your aim. If there is a plan without proper planning, it is only a matter of time before the plan comes crashing. The popular 6P formula states that: Proper Prior Planning Prevents Poor Performance.

2. Lack of Discipline:

Having an online business can gift you with plenty of spare time and the liberty to work when you want. This same benefit can be a curse if you do not know where to draw the line. You need discipline to be able to work even when you don’t feel like working. You need to sustain your desire to work irrespective of whatever may be limiting you. A disciplined businessman with little capital will always outdo an undisciplined businessman with huge financial capability.

3. Lack of differentiation:

Many people often attempt to imitate others in their style of business. They think they can create success by imitating the top shots in their niche. It does not work that way. There can only be one Nairaland. There can only be one ImportExpert. There can only be one Linda Ikeji. Rather than copy them, pick the lessons and build your brand. If you imitate others, you will only remind your customers of the real thing. Build your brand. Be different. It is what will give you visibility. You can learn from different experts and be yourself.

4. Lack of capital:

This point can be seen either as lack of capital or refusal to invest capital. If your business would grow, you may need to spend some money. Sometimes, people want everything to come free, especially those in online business. Don’t be tight-fisted about your business. It does not just need your time and attention but your money. This is what will make your investment in the business complete.

5. Lack of focus:

Focus is a result-multiplier. Online business requires focus. The online world on its own can be very distracting. The thrills of the social media and multiple fora can easily divide your attention. You must always be conscious that even though you enjoy doing what you do, it is beyond fun; it is a business. You must therefore treat it as such. Be grounded in the purpose of the business and constantly choose to ignore every distraction. As jobs has always said: Focus is not just saying yes to what you have to do but focus is the ability to say no to those other thousand things that may come by while trying to do what you must do.

6. Lack of valuable content:

Content is everything. Content is what will keep people coming back to you. If they realize that there is something that you offer that they probably cannot get anywhere else, they will keep coming to you. Whatever the mode of your business may be, ensure the value is of a high standard. Create strategies to multiply the value that your audience can get from you and watch their loyalty become yours.

7. Lack of accurate knowledge:

Knowledge is everything in today’s world. One piece of knowledge at the right time is enough to take your business to a new height. Your continued relevance in your niche will be dependent on what you know that your competitors don’t. Always search for new information. Information will save you years of trial and error.

No one desires his business to crash at any time. It is wisdom to know what a business needs at the moment for its survival and success. Always be on the lookout for what your business needs at the moment to keep flourishing.

4 FAQs Answered on Promotional and Event Wristbands

You may have noticed people in public wearing wristbands with a message embossed or debossed on them. It is mostly popular amongst the youth where they are often known to be a part of awareness campaigns that are often known to make use of wristbands as promotional products. The message that these wristbands contain are known to spread like wildfire.

Organisations make use of wristbands for their promotional and branding tasks as they are comfortable, attractive as an accessory, and have a feature of being hi-vis. There are several who are known to be sceptical to opt for such promotional and demarcation options thinking it to be expensive and a waste of resources do not know about the effect it has on people and the level of awareness it creates when the right audience is targeted. Here are a few answers to commonly asked questions that people have in general.

1. Do they contribute to providing security to an event?

Well, yes it does! If you have organised an event that has restricted access and the only presence that you expect is from those who have been invited, you can provide each of the attendees with a wristband that demarcates their presence. This would allow you to keep a close eye on intruders and miscreants. It is a better option than stamping people’s hands with messy inks and missing out on most attendees especially when there is a crowd.

2. How can it keep my children safe?

You may be at a public place that is crowded, and you have your children in tow, you child can be kept safe when they wear such wristbands customised with your contact details. These bands are colourful and have hi-vis features that can easily allow you to trace your child in case you part ways in the crowd. You child too would love to wear it due to the attractive features each one of it contains.

3. I do not like the texture of the wristband, can I use something else?

Most promotional wristbands are made of the best quality material, and if you do not like the texture or the look of a particular type, you can always opt for the ones made from different material depending on the message you intend to convey and here are the options that you can choose from.

• Tyvek Bands

• Silicone or Vinyl Bands

• Plastic Bands

• Fabric Bands

4. Does the effect of the cause end after the event?

When talking about the silicone wristbands, there are several who retain the bands to be worn in future even after the event is over. This is because they are easy to wear, comfortable on the wrists, doesn’t create any skin irritations, is colourful, makes a style statement and simultaneously creating brand awareness for the future as well. Whether it concerns the youth or the elderly, everyone loves to wear something that is attractive while serving the purpose and the reason why people are wearing it.

S.R.T

Business Analytics Training: Features, Aspects and the Advantages

Entrepreneurs run their organizations after gaining the knowledge about how to run their commercial establishment in sync with the latest trends of the industry. The organizations are expected to run according to the rules and regulations of the syndicates of the market. As an entrepreneur, one must have the idea to run a commercial process, and now there are proper training carried on where an aspiring entrepreneur can learn the aspects of setting up a commercial organization.

What is the purpose of the guidance?

The Business Analytics training is a guidance method for each and every individual who wants to show their skills in the industry of trade and commerce. It is going to support them for their ever need. They can operate their work smoothly. But there are a number of things which are there to be synchronized in an account to make that happen.

Every company has their own teaching method. They try to make their students capable by providing various guidelines. Each and every company offers something extraordinary to their students. Selecting the essential materials and much more will be precisely significant when making an allowance for how to run the industry properly.

The way how the provisions are actually ordered will be quite significant. But maximum times ordering by greater quantities will provide the companies as well as the opportunities to just save cost on the provisions. But it is just going to be possible if a company has the place to store an individual which will not be utilized right away through. It is actually something which has to be considered.

What is the need of the course?

If you are opting for the course to add your career, or just you have an intense concentration in Business Analytics training and need to relish the long term profession doing what actually you love, you will then find that the corporate accreditation can offer you along with a myriad of advantages that you can like on a private level on a regular basis.

Not each and every individual love being stacked in front of a computer screen managing analysis. But numbers of people are out there, who actually enjoy this kind of seasoning from the certain company. In fact, one can easily prove and showcase their skill and expertise by getting this specific exercise. Utilizing this drill, you can easily increase your talent which will help you a lot to progress your career smoothly. Some of the companies are there who try to give a complete knowledge to their clients so that they can operate their corporate smoothly.

The advantages of this course

So many people join this particular seasoning just because they enjoy it thoroughly. But apart from interest one of the main advantages of this particular accreditation is that anyone can easily prove their capability to operate the job. When positioning for a place that needs this sort of exercise, containing your authorization is a symbol that you are extremely talented to meet the responsibilities which are needed. Along with that, you can increase the probabilities of being chosen.

One can find that the certification is acknowledged by the industry specialists that are a key benefit, particularly when smearing for the location or an elevation only within your corporation. You can find that it is easily familiar, not only by establishment directors and owners but also by the colleagues and peers.

Accomplishments of the training

There is another advantage of holding this particular authorization is the progression in occupation potential that it may offer. When you begin in any kind of job, you start at the lowest, and you operate your way to top. You may just be considered for progression if you have an applicable industry information, teaching and experience.

Types Of Work Wear That You Need In Your Closet

Whether you are a welder, house painter, machine operator, or any other professional, you need to have the right work wear. Here are some of the outfits you need to have in your work:

Work Shirts and Tees

A good work shirt should fit you comfortably. It shouldn’t chafe or bind when you are working. For peace of mind, you should have medium and heavyweight work shirts that fit every season. When making the purchase, you should go with work shirts made from durable cotton and other materials that are heat and moisture resistant. The work shirt should also be able to resist stains and wrinkles.

Work pants

Work pants not only cover your legs, but they also shield and deflect dirt, fluids, and grease that you encounter in your working day. You should go with stain-resistant pants made from reinforced cotton duck. For the pants to last for a long time, go with those with double stitched seams and have durable fasteners. The cut that you choose should provide you with freedom and motion without being too loose. If you don’t like the pants, you should go with shorts.

Coveralls

Coveralls are known for their robust and roomy nature. They have plenty of pockets and loops that hold larger tools and small items. There are many types of overalls that you can go for. The most common is the traditional bib-style overall that provides you with coverage up to the mid-chest but leaves your arms and shoulders exposed. There are also the disposable coveralls that feature a hood and elasticized cuffs at the ankles and wrists. Painters prefer these.

High visibility clothing

If you work in an industry that is highly risky, you need to wear high-visibility safety apparel (HVSA). The outfit can be a vest, overall, hoodie, or windbreaker. HSVA clothing is usually trimmed with fluorescent stripes or retro-reflective tape. For a great experience, you should ensure that the safety clothes you wear provide you with 360-degree coverage from your torso. The bands or reflective stripes on the outfit should be visible from all angles.

Conclusion

These are some of the work outfits you need in your closet. When buying the outfits ensure that they are of high quality. You can ensure this by purchasing from a reputable and high-quality store. When making the purchase, pay close attention to your industry. The work wear you buy should be comfortable to work with in your area.

Benefits Of Using Acrylic Displays in Business

For many years, business owners have been using wood or metal displays. While the two are durable and provide an excellent service, the entry of acrylic displays revolutionized everything. The material comes with many benefits that include:

Strong

While acrylic looks weak, it’s unyielding. Due to its strength, you can use it to support both small and large products of different weights. As you know, most strong units are durable; therefore, you are assured that the display you buy will last for a long time.

Versatile

One unique feature of acrylic is its ability to be easily shaped. Due to this feature, it comes in a wide range of forms such as racks, cases, stands, wall mount, and holders. It’s up to you to choose the form that will work the best for you. Since acrylic is water-resistant, you can use it to display your products both indoors and outdoors.

Transparency

While there are other shades of the material, most of the acrylic is transparent. This makes it easy for people to see products that they want to buy. To the business owners, this often translates to more sales as the buyers have a clear look at all the products. Unlike plate glass that is also transparent, acrylic is clear all over.

In addition to being transparent, acrylic is also lighter thus you can easily move it from one part of the store to another. Again due to its versatility, it can take almost any shape. Thus you can place it any location in your house.

Ease of cleaning

To attract people to your stand, you need to keep the display clean. Acrylic is easy to clean as all you need is a moist piece of cloth. When cleaning you should avoid using regular polish as you will ruin and discolor the material. For ideal results use specialized anti multi-purpose cleaner. You should note that the material isn’t scratch resistant; therefore, you should be cautious when cleaning. As rule of thumb, use soft materials in your work.

Affordable

If you have been in the market lately, you must have noticed that acrylic displays are much cheaper than their wooden, metallic, and glass counterparts. This means that you save a lot of money when you buy the units. In addition to being cheap, the units aren’t prone to decay, decomposition, and rusting.

The Magic: Child’s Play Turns Into a Bright Business Person

How do you know if a child will someday turn into a successful business person?

Every child can be smart. By respecting and supporting his/her ideas and interests, it will help that child’s natural abilities to surface. Gifted children show from a young age, for example when they sell lemonade on the corner for 25 cents and earn 5 or 10 dollars by the end of the day, that is the entrepreneur spirit.

I feel that in some manner, a true entrepreneur is created as a child in many ways. Maybe a Mother says “Wow, he is quite the talker and I bet he will become a great salesman someday” or “she is so smart, I bet she will run her own business someday and will be a good leader”.

These are the times that a seed gets planted and children never forgets these times. When the time is right and all what they learned come together is a great moment. They might strive for what was in their heart, planted by a mentor, Mom or Dad’s encouragements or comments so many years ago.

I feel like it is a moment that a child makes a Mother and Father proud, and the achievements that their parents don’t remember why but all of a sudden, this business person is a salesman of the month or became a CEO of their own business. It is a very proud moment for both parents and the family.

Achievements are so important in an adult or child’s life and when their successes are best recognized by their loved ones as a very proud moment. The making of a CEO or a top sales person can be found at many moments in life. When did the light-bulb become brighter for a career? Was it sparked when they were 15 years old, when they got to feel what glory and winning was like when they won at a football game or played in their first recital. Maybe when they brought home their first A in math and always try to learn better math.

Excuses That We Can Make In Our Office Life For A Leave

Good morning, sir. Firaq, this side,” said I over the phone.

“Hey Firaq, morning. What’s up?” asked my boss.

“Sir, wanted to inform you that I won’t be available in the office today. I got some urgent work to do. I really regret it,” I said very humbly.

“Come on, Firaq. It’s alright. You take a leave today. Enjoy yourself, and come tomorrow. Don’t worry about nothing. Okay!” said my boss.

“Sure thing, sir. Thank you very much.” as soon as I disconnected the call a sweet music began to play, which sooner turned out to be my alarm at 7:00am. Well, sh-t happens.

So, I’m going to talk about some effective and some lame excuse for leaves we make in our office lives, now and then. It’s a part of our corporate lifestyle and culture. We all make excuses for urgent leaves. Don’t trust the people who say they don’t make excuses for leaves.

Making excuses is surely no offense, and we should make excuses if needed. Making excuses, indeed, is our birth right because it protects our fundamental right to privacy.

Apart from being the birth right, I also regard and associate excuses with creativity and adventure. Making an excuse is also a test of your creative mind and courageous attitude. And I suggest you not to lose this opportunity.

Well, I have been making excuses since the very early days of my employment; and I have learnt from my mistakes and experiences.

The very first excuse for my absence was not even an excuse; I was just telling them, my seniors, the fact, but they took that as an excuse.

“It was raining the whole day, so I didn’t come to the office yesterday. It was just not possible,” I had said, I remember.

“So, this is your excuse for your absence yesterday?” the ex-boss said.

“No, sir. It’s not an excuse, it’s a fact. It’s true,” I said.

Today, I know I was a wild ass to say that to my boss. Lesson: Don’t tell the truth, make an excuse, and respect your privacy. Otherwise, you’d look like a stupid.

When I got tired of ‘stomach ache’ excuse, I began to research on the subject of excuses for leaves.

KEEP RESPECT IN EXCUSES

Excuses are valued by the amount of respect you put in them. I say, a respectful excuse is an artistic display of manners.

Please, please, and please, do not kill your distant granny, or make anyone fall sick. It’s just gross, and immoral. It’s just not cool, man. How can someone just do that! Our excuses are supposed to bring enjoyment, happiness and positiveness, right!

As I said, an excuse is valued by the respect you fill in it. So please, insert more and more respect, values, morality, life and health in your excuses.

BE CONFIDENT IN YOUR EXCUSES

The characteristics of excuses are defined by the level of confidence put into them. The excuses with lack of confidence are as good as lies. Lies are bad things, they are generally designed to hurt or harm people. But excuses are different; they are made to ‘protect our privacy’.

Excuses are also a healthy part of relationships shared by employers and employees. If employers and employees are respecting each other’s interests wrapped in the sheet of ‘excuses’, they are sharing a rather healthy relationship. It’s a good thing; always better than doubting each other, and confronting each other on a subject of leaves.

RESPECT THE BOSS’S AUTHORITY

‘At the end of the day’ your boss is boss. He is your boss, because he possesses a boss’s characteristics. Might be, he is your boss, because it was his dream to be a boss since his childhood. This is what I learnt from watching BBC’s Undercover Bosses.

Even today monarchy prevails in our corporate world, and I’m afraid even America cannot deliver democracy to this world despite having a president like Mr. Donald Trump himself.

So, while making excuses display some respects to your kind, Mr. Boss, not just because it’s the norm, but because it’s a very human thing. When you show respect to your boss, it triggers a chemical reaction in his mind which increases the chances for the approval of your leaves.

AVOID BEING TOO CREATIVE

Every person is a creative person, some are good at creativity and some are terrible at it. If you fall in the category of ‘bad at creativity’ avoid it in your excuses. There is no smartness in making excuses like: I slipped on the banana leaves, or I was bitten by a hornet, or I was robbed on the way by some dudes, etc.

ON A SERIOUS NOTE: PLAN YOUR ROUTINE

Excuses in offices are supposed to be made as a last resort. Excuses in our office life are not positive things, they can affect one’s career in a negative way. Our corporate world is more competitive than it was a day before. And your bosses always need your support to survive the fish-market, and he doesn’t even let you know that. A day’s leave can only be compensated by increasing the workload on your colleagues, or in the worst case, it cannot be compensated at all. So, always communicate well with your bosses.