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The Credibility Factor

Written by: Corey Poirier

Article Overview: If you want to increase your value...increase your credibility.

The Credibility Factor

Far too often, salespeople view themselves as company employees when they would be much wiser (in my humble opinion) to view themselves as business owners: whether that business ownership means ownership of a territory, ownership of a vertical market or any other combination that relates to their current sales position.

The good news is this.

As soon as that salesperson starts acting like a business owner they start to truly understand the importance of obtaining and maintaining credibility in the eyes of their potential clients, and how gaining that credibility can make all of the difference in the world in relation to their sales success.

And so, if a sales professional wants their prospective client to not only seek out their knowledge but also to pay more to work with them, that same salesperson should really take the extra effort required to prove to that prospective client that they are worthy of being considered an industry expert and as a sales professional they will also bring value to the potential business relationship that could exist between the buyer and seller.

But how do sales professionals become experts in the eyes of their clients? Here are some time tested strategies.

1) Write an article for a magazine, website, newspaper, etc.
2) Start an industry based newsletter
3) Teach a college course
4) Appear on a radio show
5) Record an industry related information based CD
6) Get an industry related certification
7) Write or co-write a book
8) Launch an industry related website
9) Partner with an established and/or credible business(s)

These are just some of the ways that sales professionals can become experts in the eyes of their prospective clients.

If you’re already working in the sales trenches anyway, isn’t it worth getting just a little dirty?

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Re: Branding On A Budget - Several of the things that I promote to clients are elements of their branding and credibility is a big thing that I talk with clients about - especially non fiction authors and other business people. Credibility and reputation are critical in any business venture, but especially with online businesses because we need to build trust. Shri
New Site - It would be a good idea to include a testimonial from the "big name" clients or a link to show what was done for them. These simple things will work to increase your credibility with new online visitors. Credibility is a huge issue online and brand new sites have to deal with that. In any of my articles or books I recommend finding ways to build your credibillity and offer proof of your claims. Its a shame that we have to be leery of new sites and/or new businesses, but there is a lot of spam, spyware, viruses etc that can do major damage to our computer systems. Shri
Re: Not a preferred choice - [quote="tony_blayer":xfxt4hx5]Well work for home is good for a short period of time. Cause there is no creditability in the job. Also no fun... makes one lazy... [/quote:xfxt4hx5] That's one opinion - thankfully my clients don't feel that I lack credibility and the majority of the people I know personally who work from home are certainly not lazy. There are some unmotivated, lazy people in any business and people who lack credibility is any business or location. Credibility should be more about the quality of the work that's done instead of an address. Shri
Different Types of Funding - Finance for business can be obtained through a number of different sources. Let's review some of those channels to help you decide what's right for your business needs: Grants There are over 930 different EU and UK grants and loans available from over 100 issuing bodies. This is the cheapest form of finance and an important part of the funding package that companies and individuals need. We can help you find your way through this maze. Technology Micro Projects: 50% of eligible costs up to £20,000 Research project: For a technical and feasibility study of an innovative idea for new technology 60% of costs up to a grant of £75,000. Development project: For development up to pre production 35% of costs up to a grant of £200,000 Developing an innovative idea: valuable for small companies and individuals at the start of a technical project: 75% of costs of hiring a mentor and consultants. Export To start exporting or moving into new markets grants of 50% of costs up to £20,000 each. Training and Education Knowledge Transfer Partnerships, Achieving Best Practice in Your Business, Investors in People Modern Apprenticeships New Deal for various grants. Environment BOC Foundation for the Environment: 25% to 50% of Project cost, typically £20,000 to £100,000 Clean up Fund: Emission reducing equipment up to 75% of cost Community Chest Fund: Up to £25,000 for projects near active SITA sites High Impact Fund: £150,000+ for larger projects near SITA sites Assisted Areas Regional assistance grants of between 10 and 35% for capital expenditure in less favoured areas of the UK. Loans Loans are an excellent source of finance if you have suitable security to borrow against or a reliable earnings stream. This needs to be planned and presented well to obtain funds. Credit cards Provides up to 56 days free credit if you play the game! Overdraft Banks are surprisingly supportive when presented with a well thought through plan and competent management. Bank Loans Lenders tend to look for a good business plan and security. Typically the loan is approved by a centralised back office function rather than the person you meet. Terms and rates depend upon the risk. Repayments can be very flexible to meet your specific needs. Mortgages These can include flexible repayment terms to meet your business needs. This can even be incorporated into your overdraft finance so that you have one flexible account for both personal/ business mortgages and overdraft Small Firms Loan Guarantee Scheme Up to two years trading: Up to £100,000 Over two years trading: Up to £250,000 However these are difficult to obtain and are a loan of last resort. Export Guarantee Scheme This is government backed insurance against appropriate export documentation. Mezzanine This is a halfway house between loan and equity. It can be an innovative way of raising funds for the more established business. Mostly for expansion capital. Equity This is not as easy as the papers would have you know. Only 1% of business plans received by Venture Capital Funds are successful. However, a good business proposition consisting of a strong demand for the product or service, management track record and a sound financial plan will enhance the chance of success. Business Angels These are high net worth individuals who are successful businessmen looking for investment opportunities. They can provide both time expertise and money. Typical investment size is £25,000 to £250,000 but can go as high as £2m for the right opportunity. Exit within 3-5 years. Venture Capital These are investment funds seeking high rates of return. However typically investments are over a million pounds. Some funds are targeted at lower amounts depending upon the sector and region. These funds are looking for exponential capital growth over 3-5 years. Asset backed finance This can cover machinery, sales invoices even sales orders. It can be a very flexible source of finance to the growing business Leasing This will cover your capital expenditure and spread the cost over a three to five year period. It is particularly useful if you do not have taxable profits to maximise your capital allowances. Sale and leaseback of a property you own is another good source of funds. Factoring Factoring offers a sales ledger administration and debt collection service. Up to 95% of an approved sales invoice is paid within 48 hours, quicker if required. Credit protection is also available to protect against a bad debt. The Factor will own and place a first charge over the book debts and they might also take other charges, depending upon the strength of the financial information. Invoice discounting Invoice Discounting can be Confidential or Disclosed; it depends upon the strength of the financial information. The service is the same as Factoring, except that the sales ledger administration and the debt collection is the responsibility of the client and not the Factor. Pre payment of the approved sales invoice is still up to 95% and the factor will still have a first charge on the book debt and therefore own the debt. This service can also have credit protection cover. All sales invoices need to be for a business to business debt, and some proof of delivery is generally required. Trade Finance This is funding provided against stock purchases, signed contracts and orders whereby the funder will prepay a certain percentage of the value Pension fund It may be possible to use your pension funds for a loan back to the business What do u think about it?


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