How to Hire for Your Small Business

How to Hire for Your Small Business[EXTRACT]
Hiring people to help you in your small business isn’t the same as hiring someone to be on your team in a large corporation. You need to think about how each person you bring into your business aligns with you and your business values.As a business coach, I get asked all the time, “Is there a quick way to know if I’m hiring the right person for my small business?”Here’s what I tell them: Don’t talk about the job at first. During the first interview, don’t talk much about the position. Talk a lot about your philosophy and culture, and how important it is to the success of your team. If the applicant seems bored or wants to “get on with it,” you’ll know she’s not for you.

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The ideal person will love to hear about how the company “ticks” and will be hanging on every word, and will be chomping at the bit to be part of it. She’ll be leaning forward with her eyes on you, not leaning back, looking around the room.Get into the nitty gritty with her, tell her about how you started the business, talk about the growth of the company – anything but the job at hand.Save the details of the job for later in the interview or even subsequent interviews. Pay attention to her interest in your company, not just in the job. This quick first impression of how interested she really is, as shown in her body language (which you’ll be able to “read” during phone interviews, too), will give you a very accurate gauge of how “right” she’ll be for you as time goes by.

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There’s more to interviewing, of course. But this one tip will prevent you from hiring someone who doesn’t match your business culture and having to let them go soon after because they “just didn’t fit in.”

How Not to Mulligan Your Business Golf Game

How Not to Mulligan Your Business Golf Game[EXTRACT]
Golf season brings with it the opportunity to network and forge new business relationships on the golf course. Those who are savvy in business golf etiquette will finesse as many deals on the links as in the boardroom.Spending four hours on a course with a potential client or business affiliate offers you a golden opportunity to build either bridges or chasms. Many believe that how a person conducts himself or herself on the golf course reflects how they perform in business situations. A business golfing date is a time to put your best golfing shoe forward.According to biz etiquette experts, following these guidelines will help you build the bridge and land that deal.1. First, if you are likely to lose your cool when your game is bad, stay off the “business” green altogether. If your golfing history is one of losing emotional control and acting badly, do not, repeat, do not, play business golf. You will not make a good business impression.

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2. Be sure you know the rules of good golf etiquette in general. Your host will not be impressed if you make a bad impression at his/her country club or offend golfing buddies.3. No cheating in your scorekeeping or in any other way. This is not the way to build trust.4. When unsure about a rule, discuss it with your golf opponent. Abide by whatever is decided. Demonstrate your trustworthiness and show that you are a person who keeps your word.5. Spend your time on the links building relationships. Avoid talking deals until the 19th hole. Experts advise that business talk during the game should be of a casual nature. Business talk should not occur before the 5th hole or after the 15th hole.6. No cell phones or beepers on the course.7. Dress appropriately in attire that will take you from the links to the clubhouse. Denims, sleeveless shirts and short shorts are not acceptable.8. In business golf, invite your guest to play first at the first hole. At other holes, the person with the lowest hole score in the preceding round tees first.9. If invited to play business golf, offer to pay green fees, cart rental, etc. If you have invited someone to play, be prepared to cover the costs10. Drinking alcohol is not your best choice when playing business golf. If you drink at all, drink only if the host offers, and have no more than two.11. Prepare a handicap card and be honest about your handicap.12. Play the best game you can. Playing badly to “let the other person win” can be perceived as insulting and will damage your credibility.13. If your opponent prefers to walk rather than use a cart, you will walk also. When using a cart, join your opponent on the green when he gets out to play or to look for a ball.

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14. If playing in Asia, be prepared to bet. In other countries, abide by local customs. If wagering, keep the bets at a friendly level.15. Arrive early to get organized and to practice before tee time.16. Avoid whining, swearing and making excuses.17. Avoid talking or otherwise making noise while other golfers are playing.18. Avoid coaching or giving unsolicited advice to your opponent.19. Plan ahead and identify business goals for the day. If you are the host, be sure to invite the right people who can make decisions. Business golf blends business and golf. Having a goal for the day is as important as during any other business meeting.Ready to tee up? Fore!

How Many People Should You Talk To About Your Network Marketing Business Every Day?

How Many People Should You Talk To About Your Network Marketing Business Every Day?[EXTRACT]
While I was sitting at my desk today, this question just popped in my head and I thought I’d write a nice little article on the topic. I know that every person that has gotten into network marketing asks this question. If you didn’t when you joined the industry, something is probably wrong with you and you should seek the advice of a medical professional.That is, after you’re done reading this!Seriously, I know that this question has been in your head more times than you can probably remember. You’ve been sitting at home, reading over some notes or just thinking to yourself. Maybe you’re cutting the grass or doing the laundry. Maybe you’re out at the mall. Maybe you’re getting your haircut.

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Maybe you’re out at having a nice dinner, or even a not so nice dinner. Maybe you’re at church. Maybe you’re at an event. Maybe I’ve said “maybe” one time too many in this article so far!The point is, as network marketers, we really want to know how many people we should talk to about our network marketing business, plain and simple. Somebody PLEASE just give us a number to work with!Now, I’m the first to tell you I’m no “guru” and I haven’t made my millions yet in this industry, but I will. But, I’m not the one you should be listening to about how many people you should talk to on a daily basis about your network marketing business.With that said, I’m going to refer to an industry veteran that has made more than his share of money and has a much more experience than I do right now, and that’s Mark Yarnell.Mark Yarnell wrote a great little book titled “Your First Year in Network Marketing” and I recently listened to a fantastic training where Mr. Yarnell gave out the “secret” number of people that you need to talk to on a daily basis.His answer: 30. 30 people a day, 5 days a week. Please take the weekends off. Or you can talk to 30 people those days, too. I don’t care.Now, the reason Mr. Yarnell says 30 is that he says that is the best way to make a six-figure income monthly in this business. Talk to 30 people every day and you’re well on your way to being one of the big earners in network marketing.

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There’s just one problem with that: most people will NEVER talk to 30 people a day about their network marketing business. EVER. Which is why there aren’t more people making incredible incomes.The dedication just isn’t there. They don’t want to put forth the effort and they don’t want to put themselves out there for people to say “no.”But you’re not one of those people, are you? I’m not. I’m not at 30 people a day yet, but I’m on my way. And I’ll be there soon.So, what are you going to do to talk to 30 people every day about YOUR network marketing business?

Habits Can Hurt Your Business

Habits Can Hurt Your Business[EXTRACT]
Each of us sets up patterns and habits in our lives. Sometimes they help us to function in a healthy way and at other times they may cause problems for you and your business. Following are some habits that might hurt your business:1. Frequently being late – When your clients are waiting for you, they may be losing respect. People are very busy and do not usually like have an appointment time that isn’t honoured by you. I have seen people who, after a period of time, actually leave offices in an angry huff because they are not willing to wait for the offending person to arrive. The bad part is that they might not ask for another appointment and will probably tell their friends about this so that the future business prospects are reduced.

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The solution is very easy. Be on time for all of your scheduled appointments. In fact, it is better to be five minutes early than five minutes late. Soon you will find that the rewards of doing this will be significant as your clients will be pleased that you respect them and their time.2. Talking too much – It is easy to lose track of another person’s needs when you are so busy talking that you do not ask them questions and listen for the answer. Have you heard the statement “God gave you two ears and one mouth so you can listen twice as much as you talk”? There is some truth in this. Even if a person is usually quite quiet, it is important to encourage them to talk by asking good questions and leaving opportunities for them to reply.3. Not honouring your promises – When you say that you will do something it is very important that you follow through. Otherwise, people will not trust you in the future when you make another promise. Make a note to yourself so that you will be cued to do what you have promised. Then make sure that you put the note in a place that will remind you and, more importantly, make sure that you have completed the task before the end of the day.

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I am frequently surprised at how many people make promises and then never honour them. Some perhaps just say what they do in order to please the other person. Others may be disorganized and allow the promise to be lost in the busyness of their life. Still others just don’t bother to do what they say they will do. If you want to be a unique and trustworthy business person, make sure that you arrive on time, encourage others to talk and honour all of the promises that you make.

Selling Your Business – How to Give the Buyer a Tour of Your Business

Selling Your Business – How to Give the Buyer a Tour of Your Business[EXTRACT]
A key step in selling your business will be taking the buyer on a tour of your facilities. Here are the most important things you need to do when your prospects first visits your business.Warm up When you and your prospect first meet do not jump right into business talk.Spend a few minutes getting to know each other. Attempt to build a little rapport.A few personal questions (but not too personal) such as, Where are you from? Where did you go to school? Do you have any kids? These are a good way to get people talking about themselves.If the prospect wants to go into some detail about his children or his hobby – let him. It’s a good way for him to relax and get comfortable in new surroundings.Sometimes the best topic of conversation early on is to talk about his career and what type of work he is doing now. If he is perfectly happy with were he is in his job and career, he wouldn’t’ be sitting in your office. What does he dislike about his current job/business? Why is he looking to make a change? What benefits does he want his new business to provide?These questions can give you insight into what he wants – his hot buttons. Try to tailor your presentation of your business to his likes, dislikes, hopes and dreams. Try to show him, if it’s true, how owning your business can fulfill those hopes and dreams. (On a side note: it’s a good idea to use words like “own” and “owning” instead of “buy” and “buying” whenever possible)Though buying a business involves a lot of cold hard numbers it is still a very emotional event to the buyer. This may be something he has dreamed of doing his entire life. Think back to the time you first went into business for yourself. That mix of excitement and fear is the same thing your buyer is feeling. If you can get the prospect emotionally involved in the business, your job of selling will be much easier.

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If you are in a manufacturing or wholesaling business you may want to set up a display of some of your most popular products and demonstrate their use for the buyer.During this early “warm up” process you may want to share some information about yourself. Talk a little bit about your family. Why did you get in this business? If you’re retiring, what are looking forward to doing the most once you have the time? People like buying from people they like.Studies have shown that as little as 5 minutes of schmoozing/small talk at the start, can have a dramatic effect on the success rate of a sales presentation or negotiation.If your prospect isn’t very talkative or seems uncomfortable at the start of this warm-up process you obviously don’t want to force the issue. Use your best judgment about how long this warm up process should go.Some Key Points To Remember1.) Have a room set aside were you and the prospect can talk in private. If your facility is so small that there isn’t any place you can have complete privacy, you may want to consider moving to an off-site location once you have toured the facilities.2.) In order to raise as few questions as possible with your employees, try to minimize open discussions during the tour itself. Instead preview for your guest just what you are going to show him and then review it afterwards. It is in the private room, or off-site location, where the buyer can ask more detailed question about what you have shown him.3.) Try to customize each tour to suit the interests or hot buttons of the individual buyer. If it is a manufacturing facility, the buyer with the engineering background is going to be looking for different things than the buyer with a sales & marketing background. What’s right up the engineers alley might be Greek to the salesman. Don’t try to make one tour fit all buyers.4.) Accept the fact that that you can’t touch on every single aspect of your business in one meeting. It’s likely that the minute the buyer leaves your premises you will remember some positive feature or fact you wanted to share with him.You can always follow up immediately after the meeting with a “Thank You” e-mail to thank them for coming in and to see if they have any new questions. And then you can drop in one or two of those positive points you forgot about during the meeting.The buyer is likely to be overwhelmed with new information anyway. So resist the temptation to throw in the kitchen sink.Is Now A Good Time To Negotiate?This first face to face meeting with the buyer is certainly an appropriate time begin to discuss/negotiate the details of an actual deal.However, while your are actually taking the prospect on a tour of your facilities, you want to keep the discussion limited to the business itself: products, manufacturing processes etc. The last thing you want to deal with on the tour is questions like, “What is the minimum down payment you will accept”?

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Let the buyer know you will be happy to discuss these issues in private. But while on the tour, and immediately after, make sure that discussions are focused solely on that. When all his questions and concerns related to the tour have been answered and you are in private, then you can move on to discussing the terms of the deal.In most cases the buyer will not be prepared to get into detailed negotiations with you at this point – they have learned a lot of new information about your business that they will want to review.But now would be a good time to discuss with the buyer a timeline for when you would like to receive LOI from buyers, how much time you believe is reasonable for the buyer to conduct Due Diligence, and your target date for the closing.Lastly, you want to discuss what will happen next.I suggest you let the buyer know you will be calling in 2-3 days to see if he has any further questions. This gives him some time to review and consider all that he has learned while visiting the business. I would also send the “Thank You” e-mail mentioned above immediately after the meeting or that night and include one or two additional positive features that weren’t covered in the actual meeting.