In order to run a successful business, you need to create a steady flow of cash for sure.
In our first blog on this topic we discussed how to make more money and how to gain more clients, which would both increase cash flow.
The concept can sound simple but in order to do either you need to be out there networking and selling yourself or your product, which inevitably leads us to the next two questions small business owners ask.
#3 Can I hire someone to do sales with me or can I hire someone to do sales for me?
Well, it depends.
If you have 35 to 50 employees in your company, then yes you will likely hire staff that’s going to focus on sales. You will be focused on retaining your key clients and attracting large accounts or larger clients, and getting involved in the strategy of selling without actually cold calling, you can leave that up to your staff. You will be able to use your expertise to train your sales staff to sell the products in the right way.
If you are a solopreneur or a small business owner with less than ten people the answer is no. You cannot hire or outsource sales. Why? With a company of this size, you are building upon your dream or idea, but without actually being out there selling it yourself, how will you know if it is right for your demographic? Think about it as ‘market research’, by being on the front line you are going to be able to improve your idea and product many times over. It’s also your number one revenue generating activity, and as a small business owner, this should be your focus.
By being your companies champion and going through the sales process yourself, you will be able to see what objections people are having to your products and services, and learn the best ways to overcome them. Which will be amazing experience when you’ve grown to the 35-50 employees, and need to train them!
At the end of the day, even if somebody else does the selling for you, you have to tell them what to say. Now it doesn’t mean you can’t have someone book appointments for you but YOU need to close the deal.
#4 I have six figures, what do I do to take my business to the next level?
When you hit the first $100,000 you are most likely still involved in a lot of the day to day running of your business and doing most of the service delivery yourself. So to up-level, what we need to look at first is where you can leverage your team, talent and time.
Ask yourself:
A. What are the strengths of my team?
B. How can I leverage my team?
C. What resources can I bring in to take some of the daily operations out of my hand?
D. How can I delegate better?
E. What do I do best?
F. Am I leveraging my talents and strengths?
G. How am I spending my time?
H. Is the way I spend my time aligned to my ‘critical musts’?
I. What is the ROI on my time investment?
To really take it to the next level, you need to attract and retain great employees, keep key players on your team, delegate effectively and focus on looking at the business from a strategic point of view.
You can also visit my website at www.SmallBizBigBreakthrough.com, for more ideas and to learn about your CEO Success Style, and how this may be affecting your growth.
Have comments? I would love to hear them below!
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