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    Commercial Collections Billing Practices Advice
    Swiftness is the key to collecting past due commercial accounts because commercial accounts depreciate more faster than consumer accounts.In creating and implementing a billing system, a credit grantor should recognize that time is the safest refuge of any debtor. The more time they are given, the less likely they are to pay. Hence, sales documents should be explicit about payment terms, return privileges, interest charges on overdue accounts, guarantee and service costs.Various Commercial Collection Programs UsedA series of letters used together with an account aging sheet or data printout will help to track slow-paying accounts.All systems should have an organized and mechanical follow-up of accounts at regul
    s? In that geographic location, how many other organisations are there which could potentially use your products or service?

    There are many sources of information. In the past, you'd take a huge directory and pore over it to extract prospects. Now you can do all that on-line with little effort and usually free of charge.

    Simply use your favourite search engine and enter the name of a location and a relevant product or service. Example, This is what Google gave me today: Results 1 - 100 of about 656,000 for Electric motors Yorkshire.

    Or look for a directory of your product and the area <(your product)(area) directory>. If you find

    Prototyping Your New Electronic Product Idea
    Do you have an idea for an electronic product, the next must-have gadget, music or video system, time saver, or greatest problem-solving device that was ever invented? Even if you have the electronics product design expertise available, there are a number of tasks that you must complete and issues that you must resolve before you have an actual product design that can be produced, marketed, and sold. Once you have completed a product specification document and a marketing study, you should be prepared to have the product electronics and packaging design processes begun so that a prototype unit can be assembled and tested.One of the first choices that must be made in the electronics design is which microprocessor or microcontroll
    'Nobody can buy your product or service if they don't know you exist'

    That's pretty obvious isn't it? There is a bit more depth to the corollary; 'The more people who know of your company the more business you will get'

    The principle is easy to see with websites. Suppose you have an attractive offer, the product is in demand and the price is right, but no traffic. You won't sell a thing.

    But, to go to the opposite extreme, if you can make most of the population aware of who you are, what you do and how to contact you, you'll get a massive amount of business.

    Pizza Hut advertises, before and during The Simpsons - peak time TV, with an audience of millions. That is exploiting this principle to the maximum.

    Now let's consider how this relates to the typical entrepreneur, inventor or small business owner. If that's you, how many of your potential customers know that you are ready, willing and able to help them?

    I've put this question to hundreds of delegates at my 'Selling for Engineers' seminar. It can take a fair bit of consciousness-raising before the true scale of the opportunities becomes apparent.

    For a bit of fun, I introduce the concept across like this:

    'Here's a number, 6,700,000,000. That's how many people there are on planet earth'. Then I ask, 'How many of those people have heard of Coca Cola - or Microsoft, Nike, Honda?

    And then I enquire, 'How many of them have heard of your business?'

    This generally gets a laugh and someone is bound to hold up their hand making the zero gesture. For most of the other participants their customers number only a handful.

    Since you can't sell to people who don't know you exist, task one for increasing sales is to let your market know what you do and how to contact you.

    At this point I sometimes get the comment, 'Our customers know where we are if they need something'.

    But things never stay the same, new organisations are born, old ones become dissatisfied with their existing suppliers, personnel change. The market place isn't static there are always new opportunities.

    Besides, we exist in a global village these days. Nowhere on the planet is more than 24 hours away by plane. With phone and email it's only seconds.

    So we can proceed in two ways; first look hard to find more prospects in your local area. Second, consider where else in the world you can service. You may not need any local office, agent or staff; for many organisations the internet makes them redundant.

    Make a start like this; where are your main customers? In that geographic location, how many other organisations are there which could potentially use your products or service?

    There are many sources of information. In the past, you'd take a huge directory and pore over it to extract prospects. Now you can do all that on-line with little effort and usually free of charge.

    Simply use your favourite search engine and enter the name of a location and a relevant product or service. Example, This is what Google gave me today: Results 1 - 100 of about 656,000 for Electric motors Yorkshire.

    Or look for a directory of your product and the area <(your product)(area) directory>. If you find

    If You Want to Hire Frogs, All You Have to Do is Croak
    I was talking with a friend recently about Customer Service personnel and what makes a good person become great in the Customer Service field.I thought about it and narrowed it down to 3 basic things.Friendliness.Intelligence.Training.Then he asked me how would I attract a friendly, intelligent and trainable person. I told him I would write an ad, and then he could use it, if he wished.I then proceeded to read about oh, 1000 or so Customer Service ads on various job boards to see if there was one that I thought would work. I did not find many.Most were something like this. “Rare (unique, unusual, unbelievable) opportunity for hard working (dedicated, industrious, diligent) individual look
    e Simpsons - peak time TV, with an audience of millions. That is exploiting this principle to the maximum.

    Now let's consider how this relates to the typical entrepreneur, inventor or small business owner. If that's you, how many of your potential customers know that you are ready, willing and able to help them?

    I've put this question to hundreds of delegates at my 'Selling for Engineers' seminar. It can take a fair bit of consciousness-raising before the true scale of the opportunities becomes apparent.

    For a bit of fun, I introduce the concept across like this:

    'Here's a number, 6,700,000,000. That's how many people there are on planet earth'. Then I ask, 'How many of those people have heard of Coca Cola - or Microsoft, Nike, Honda?

    And then I enquire, 'How many of them have heard of your business?'

    This generally gets a laugh and someone is bound to hold up their hand making the zero gesture. For most of the other participants their customers number only a handful.

    Since you can't sell to people who don't know you exist, task one for increasing sales is to let your market know what you do and how to contact you.

    At this point I sometimes get the comment, 'Our customers know where we are if they need something'.

    But things never stay the same, new organisations are born, old ones become dissatisfied with their existing suppliers, personnel change. The market place isn't static there are always new opportunities.

    Besides, we exist in a global village these days. Nowhere on the planet is more than 24 hours away by plane. With phone and email it's only seconds.

    So we can proceed in two ways; first look hard to find more prospects in your local area. Second, consider where else in the world you can service. You may not need any local office, agent or staff; for many organisations the internet makes them redundant.

    Make a start like this; where are your main customers? In that geographic location, how many other organisations are there which could potentially use your products or service?

    There are many sources of information. In the past, you'd take a huge directory and pore over it to extract prospects. Now you can do all that on-line with little effort and usually free of charge.

    Simply use your favourite search engine and enter the name of a location and a relevant product or service. Example, This is what Google gave me today: Results 1 - 100 of about 656,000 for Electric motors Yorkshire.

    Or look for a directory of your product and the area <(your product)(area) directory>. If you find

    What if Every Company Gave Great Service?
    As a customer we have all come across business establishments where we received good customer service and occasionally when that service is great it really stands out. Today even good customer service stands out, because we seldom get that very often. At Starbucks Coffee they instruct all their team partners, a fancy name for employee line worker, to give not good or great service, but Legendary Service. Ask any employee it is a mantra around there. Now that does not mean you will get Legendary Service all the time, but you will see the sparks of it and generally you will receive good customer service. And to us customers, well that is a good thing.There are many companies, which give good customer service, companies such as Enterp
    e are on planet earth'. Then I ask, 'How many of those people have heard of Coca Cola - or Microsoft, Nike, Honda?

    And then I enquire, 'How many of them have heard of your business?'

    This generally gets a laugh and someone is bound to hold up their hand making the zero gesture. For most of the other participants their customers number only a handful.

    Since you can't sell to people who don't know you exist, task one for increasing sales is to let your market know what you do and how to contact you.

    At this point I sometimes get the comment, 'Our customers know where we are if they need something'.

    But things never stay the same, new organisations are born, old ones become dissatisfied with their existing suppliers, personnel change. The market place isn't static there are always new opportunities.

    Besides, we exist in a global village these days. Nowhere on the planet is more than 24 hours away by plane. With phone and email it's only seconds.

    So we can proceed in two ways; first look hard to find more prospects in your local area. Second, consider where else in the world you can service. You may not need any local office, agent or staff; for many organisations the internet makes them redundant.

    Make a start like this; where are your main customers? In that geographic location, how many other organisations are there which could potentially use your products or service?

    There are many sources of information. In the past, you'd take a huge directory and pore over it to extract prospects. Now you can do all that on-line with little effort and usually free of charge.

    Simply use your favourite search engine and enter the name of a location and a relevant product or service. Example, This is what Google gave me today: Results 1 - 100 of about 656,000 for Electric motors Yorkshire.

    Or look for a directory of your product and the area <(your product)(area) directory>. If you find

    Buyer Beware the Extended Warranty – Deal or No Deal
    Experience is always life's best teacher. But ideally it is through somebody else's experience that you could learn a valuable lesson about extended warranties. What is the deal with extended warranties? Are they really an insurance against damage or malfunction? A seasoned salesperson knows just when to propose the extended warranty; especially, those electronic store sales representatives. When you are high on the purchase the salesperson poses the question, “ Would you like the extended warranty added to this purchase?”. Now they Do NOT review the extended warranty Terms and Conditions (T's & C's) outlining the things that ARE NOT covered by the extended warranty. In fact, some of them purport (Like Fu
    he same, new organisations are born, old ones become dissatisfied with their existing suppliers, personnel change. The market place isn't static there are always new opportunities.

    Besides, we exist in a global village these days. Nowhere on the planet is more than 24 hours away by plane. With phone and email it's only seconds.

    So we can proceed in two ways; first look hard to find more prospects in your local area. Second, consider where else in the world you can service. You may not need any local office, agent or staff; for many organisations the internet makes them redundant.

    Make a start like this; where are your main customers? In that geographic location, how many other organisations are there which could potentially use your products or service?

    There are many sources of information. In the past, you'd take a huge directory and pore over it to extract prospects. Now you can do all that on-line with little effort and usually free of charge.

    Simply use your favourite search engine and enter the name of a location and a relevant product or service. Example, This is what Google gave me today: Results 1 - 100 of about 656,000 for Electric motors Yorkshire.

    Or look for a directory of your product and the area <(your product)(area) directory>. If you find

    Top Five Tips For Designing Marketing Strategies That Get Results
    ”But this won't work” said Steve. “I’ve tried it in the past and had no response.” Does this sound familiar? My newer clients often resist implementing certain strategies based on past experiences. However, I usually find out that it wasn’t the strategy itself – but how it was implemented that caused the dismal results.So whether you are designing a simple flier or developing a plan for a strategic partnership you can increase your chances for success by following these five tips.1. Develop Your Marketing For Your Potential Clients – Not Yourself.What looks good to you may not necessarily be appealing to your audience. It’s OK to ask your friends and associates for feedback – but their comments are only relevant if th
    s? In that geographic location, how many other organisations are there which could potentially use your products or service?

    There are many sources of information. In the past, you'd take a huge directory and pore over it to extract prospects. Now you can do all that on-line with little effort and usually free of charge.

    Simply use your favourite search engine and enter the name of a location and a relevant product or service. Example, This is what Google gave me today: Results 1 - 100 of about 656,000 for Electric motors Yorkshire.

    Or look for a directory of your product and the area <(your product)(area) directory>. If you find one, compared with the first method, you will save time going through the listings.

    Either way, you'll have plenty to get started with. Then you can consider if there are other districts / cities / regions / countries where there are users of what you supply.

    If you are serious about wanting more business. Here is a very simple method which always, repeat, ALWAYS works.

    Every day, contact a few new prospects, briefly introduce yourself and tell them what your business does and send them some information.

    Suppose you called 5 new people a day, which could be done in half an hour, and you kept this up for a month. 5 X 20 days equals 100 new contacts. If there is even a little demand for what you do, a percentage of the people you reach will be interested. Let's assume it's only 5%. Now you have got 5 extra customers after a month.

    Apply some self-discipline, keep the program going, and after a second month you have 10 customers you wouldn't have had before. Pretty soon you are going to need some help to deal with all the jobs that are coming in and your turnover will be climbing.

    And on the subject of money, what has this process cost? Apart from phone calls and perhaps the printing of flyers, there has probably been no other expense. You haven't paid for advertisements or a marketing consultant.

    Sounds good doesn't it, a lot more customers at little or no cost? Then why don't more business people follow this simple plan?

    There is a collection of answers - 'don't have the time', 'you can't do that in our industry', 'it's unprofessional', 'it wouldn't work', 'people hate unsolicited calls'. But in reality, what these protests amount to more than anything is fear of the unfamiliar.

    Anybody who has done sales the hard way, door-knocking around houses, industrial estates or cold-calling on the phone for a really tough sale, such as advertising space, insurance or real-estate listings knows that even if it's not always fun, it works. And that is with difficult products.

    But if you offer something that is not widely promoted, you'll be surprised at how interested and welcoming prospects are.

    They don't say 'go away and stop bothering me', typically they want to know more, and ask for information to be sent or for someone to call and see them.

    You don't need to talk anyone into anything, just let them know you exist.

    That's all it takes.

    Once you've had some sales success, you may want to continue building your selling skills - here is a more advanced approach - download my free eCourse

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