Bad Business Profits Are Not the Way To Increase Sales
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Free Download - Business Management May Turn Super Workers into Super Failures By Leanne Hoagland-Smith |
Did you ever think some business profits could be bad? Profit is supposed to be a good thing. However, during down economic times or when businesses choose not to innovate, the proliferation of bad profits is everywhere.
Bad profits are another one of those 800# gorillas many seem to ignore. From my perspective, bad business profits exist for 3 basic reasons
- Organizations are lazy and do not want to work to increase sales
- Organizations do not want to add value to their products or services
- Organizations do it because they can
Fees are one of the best examples of bad profits. From banks to governments to credit card companies to schools, fees do not add value, but exist just because the organization can. When businesses or organizations cannot honestly increase sales, they impose a fee to justify their existence while penalizing you as the customer.
Taxes are another example of bad profits. Recently I read where New York City is going to tax the downloading of “I-Tunes.” Instead of reducing costs and trimming the excess waste that exists in 99% of all governmental agencies, new taxes are added to confiscate money from those who actually make money.
Other examples of bad profits abound such as expiration dates on gift cards. Some utilities gain bad profits through demand charges that they impose on their larger business and commercial customers. In many cases, customers are clueless about these fees because they are hidden away in fine print or have become a standard practice that has never been challenged.
Another reason that this is not a good strategy to increase sales is because it demotivates your sales team. How can your sales professionals build authentic relationships when you are, in all honesty, penalizing your customers and acting like you are not?
Since the purpose of business is attracting and maintaining loyal customers as this is how organizations increase sales, bad business profits negate that purpose. Would it not make more sense to trim the fat and become a high performance organization where human capital talent management works in harmony with an environment of continuous improvement?
How to reverse this dangerous trend begins within the Values Statement of the organization. When the executive management team truly lives their core values such as honesty, integrity or responsibility, they will begin to eliminate these bad profits. Building customer loyalty and therefore increasing sales will no longer be a slogan, but daily actions that truly demonstrate how this organization wants to earn their customers’ repeat business.
Of course, organizations could continue to impose new fees and taxes without regards to the customers. However, by taking such actions, those organizations are setting themselves up for their own Boston Tea Party.
Take Action Sales Coaching Tip: Review your policies and pricing structure. Are you creating any bad business profits in your quest to increase sales? What actions can you take to authentically build good profits from good sales while improving customer loyalty?
Bad Business Profits Are Not the Way To Increase Sales - To learn more about this author, visit Leanne Hoagland-Smith's Website.
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Dave KurlanDave Kurlan is a best-selling author, top-rated speaker and thought leader on sales development. He is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Michiel JonkerAs a Certified Information Systems Auditor, Michiel assists businesses in a professional capacity by evaluating the threats to their businesses. He acquired the necessary knowledge, skills, and techniques to minimize a business owner’s risk of business failure and to maximize his chances of high growth and success. He strongly believes that you CAN maximize your chances of business success, by implementing the business solution he has advocated for more than 12 years in your business plan and planning. Michiel has decided to share his experience with business owners by putting almost everything he knows in a business plan and survival guide (compiled in an e-book format) and written as a high growth SMB coaching course for SMB business owners, directors and managers - titled as the “Survival Kit for Small and Medium Businesses - Profit from your Business Risks!” According to Michiel, his goal was to add new techniques to a business owner’s business planning survival kit and instruct him or her in using these in the future - without any help from a consultant! For more information about the benefits of implementing profit protection planning in your business, please visit: http://www.business-around-the-globe.com - Visit Michiel Jonker's Website |
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