America’s SBDC Blog

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Tips For Financing Your Business

April 17, 2013

Tips and strategies for business financing as we move forward in the 2013 economy.

Q: What skills will entrepreneurs need to make the most of the credit environment?

Many more businesses are learning the value of expanding into the world market, but lenders need a higher comfort level to help them with these plans. Entrepreneurs have to be visionaries who are able to clearly project future revenue streams, understand what infrastructure is necessary to support those streams and how to develop it, and what the net results of putting that structure into place will be.

Then, they need to be able to communicate that clearly with strongly supported assumptions to their lender. The business owner capable of doing that will continue to grow no matter what the economy at large may do. (more…)

How To Shorten The Sales Cycle

April 17, 2013

Definition: Closing the business as quickly as possible after 1st initial contact.

Whether you’re a hunter sales rep, a farmer sales rep, inside sales or outside sales, having the ability to control and at times shorten the sales process is a powerful tool to have in your arsenal. Throughout my sales career, the most common obstacles and stalls that lengthen the sales process have been: “Send me a proposal…. Call me tomorrow/next week/next month…. I need to think about this more…. I really don’t have the time to do all of this right now…. I need to check on my other options…. I need to check with my partner”

There are 5 areas to focus on that will help your control and shorten your sales process. Those areas are:

(1) Your confidence and mindset
(2) Attempt to close business on the spot
(3) Setting clear next steps
(4) Creating urgency and,
(5) Asking the tough questions. (more…)