October 6, 2010
Filed under: Tip of the Day
Seven steps to successfully running a one-person business.
Step 1 – Be Flexible. The key is serious organization and immense flexibility.
Step 2 – Be Selective With Suppliers. Part of the secret to being nimble is to pick a handful of trustworthy suppliers and work with them repeatedly to build a rapport that can be called upon in times of need.
Step 3 – Build Efficiencies. Of course, seamless order processing and drop shipments save time – a critical move for solo distributors who often need every minute of the day to get their jobs done.
Step 4 – Outsource Your Weaknesses. Adrian Miller, president of Adrian Miller Sales Training in Port Washington, NY, says distributors should outsource tasks that they either aren’t good at or don’t like.
Step 5 – Make Every Move About Money. “The important thing is to do things that generate revenue,” Miller says.
Step 6 – Work Your Contacts. For distributors selling on their own, selling deeper into existing accounts and leveraging contacts within a few key industries is often a smarter sales strategy than spending hours cold-calling new clients in new industries.
Step 7 – Lose The Dead Weight. Like larger businesses, it’s vital for one-man businesses to consistently evaluate their client base for revenue and profitability targets.
Read the complete article this month’s in Counselor magazine.