Keys to Business Success: Selling, Planning and Investing
The ability to sell your services and create a solid business strategy is key to business success. And creating a successful strategy means taking a hard look at past performance and a realistic assessment of future opportunities.
When pitching new business, it’s important to ask for the business, Santomassimo said. “When you pitch new business, you have to view it as a conversation, not a presentation,” he added. “Know who’s going to be there, what role they play, what you are presenting and the impacts of the services you can provide.”
Showing that you are an expert in your market will set you apart from other business owners that may be selling a similar service. “No matter what your service is, get the word out that you are an expert,” Santomassimo said. “Share what you are doing so people know that you are active in the market.”
Social media is one of the most important tools a business can utilize to let people know that you are an expert, Santomassimo added. Leverage your expertise in blog posts and use social media to promote them. Sharing success stories is a great way to show how you provide value for a client and promote your business.
One tool The Massimo Group uses is a “presence pyramid,” Santomassimo said. “The pyramid includes a physical, personal and digital presence,” he said. “You must have all three to have a true presence in a market.”
Creating a Successful Business Strategy
Creating a business strategy is crucial to growing your bottom line. “You have to work both ‘in’ and ‘on’ your business,” Santomassimo said. “We recommend spending 80 percent of your time working ‘in’ your business and 20 percent working ‘on’ your business.”
Before creating a plan for the future of your business, it’s important to reflect on how your business has performed in the past, Santomassimo said. “Look at everything from proposals and presentations to effort-based activities and observe what worked and what didn’t,” he said. “Reflect on numbers, because numbers don’t lie. After reviewing this information, you can set a base for going forward.”
When creating goals for your business, it’s also imperative to make them realistic, Santomassimo said. However, you shouldn’t be afraid to have a “wouldn’t it be great if” goal. “Look at what you are doing and the resources you have in place to see if it’s achievable.”
Setting smaller goals can help you to outline the steps you need to take in order to meet your larger goals, Santomassimo said. “Metrics are a great way to hold yourself accountable and watch your progress.”
Traits of Successful Salespeople
The traits of successful salespeople can be outlined using the acronym DART, which stands for “disciplined, assertive, relationships and team,” Santomossimo said. “You have to be disciplined and assertive in your business. You have to have key relationships to leverage to make your business grow, and you must have a solid team that’s passionate about what they do. Figure out what makes you money and then delegate responsibilities to your team from there.”
Additionally, investing in yourself as a business owner is a key to success, Santomossimo added. “As a business owner, you have no greater asset than yourself. Invest in yourself; it will create the highest return, and it’s the least risky investment you can make.”
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