When you work in sales, you can spend a lot of time trying to figure out the best ways to make more money. There are plenty of options available to help you maximize profits, but these few below are a great place to start.
Charge More for Services
This may seem obvious, but if you are looking to make more money from your sales, you may need to raise your prices. You may be hesitant to raise prices, but if you are undercharging for your services, you aren’t doing yourself any favors.
When evaluating prices for your services there are many things you should keep in mind. Consider the costs you incur to make the service happen and the time you invest in each service. If you spend some of your time working on marketing, you may want to adjust your hourly rates so you are paid the rate you deserve for the whole week of work.
Avoid Time Wasters
Any time you spend on the job should be spent making your business run more smoothly, marketing, and providing services. Any wasted time ends up costing you money in the long run, and by removing time wasters, you can significantly increase what you are being paid for the time you are spending at work.
Some marketing techniques are a waste of time, even those that have seemed useful in the past. Cold calling is a common method but often requires a lot of time with little reward. Social media is super effective, but running several social media accounts can be a time suck, it is much better to choose a single social media platform to start with.
Market on Social Market
Social media can be a great low-cost way to increase your sales and increase customer engagement. By making videos with good content, you can bring more attention to your brand and encourage people to use your service or products. If you have a good following online, or even when you’re just starting out, encourage followers to like, share, and follow your page as part of a giveaway. You can also pay for social media ads which can be another fairly inexpensive way to increase your sales.
Making money when you work in sales can be a big task, but by taking action and avoiding wasting time, you can maximize your profits and minimize the extra time you have to spend on it.
Innovations in technology that have allowed the person to try their hand in business have also provided a plethora of opportunities for helping a business to succeed. Today, industries of all kinds rely on technology to maintain a streamlined service for their employees and customers. But is technology that important to business? The following list details some of the ways tech can be utilized to enhance the day-to-day operations of a business.
If you run a retail business, nothing can cost you as much in both your budget and sales than an unorganized inventory system. Thus, one of the most important features a retail business must have is a high tech point-of-sale system. According to Celerant Technology, learning how to use a retail POS is an important investment that can transform your business, so it's essential to utilize all the features available to you. These POS systems allow you to have a detailed and live report on your inventory. Consider introducing training for your employees to use this system as they will probably be the ones interacting with it the most.
Communication Tools and Apps
Communication apps and tools have saved thousands of businesses over the years. This is because information is a highly valued asset in business. Communication tools, such as Facebook Messenger and Instagram, can allow your company to take advantage of minute-to-minute opportunities. Also, video communication tools like FaceTime have provided small business owners the ability to negotiate via the internet with their clients or potential vendors. This alone has provided countless opportunities to less-established businesses, which, according to BroadVision, are opportunities that would not have been there if it weren't for these communication tools and apps.
Often, it is not the lack of marketing or sales that bring down a business, but the lack of accuracy within its financial records. Your own lack of organization can easily create issues with your local county or even the IRS. There are currently hundreds of financial software tools out there that have saved businesses from going through these ordeals. They often provide you with notifications dealing with your taxes and updates on changes to the law that could affect you.
Technology is not something people should fear as a tool that can steal jobs. It can supplement and enhance your team's efforts, opening the doors to a business' growth. Simply follow the list above to begin implementing these technology tools and suggestions into your own business.
(BPT) - What’s better than being your own boss, setting your own hours, determining your own salary and having an office wherever you happen to be? It’s a Utopian idea that is reality for tens of thousands of people working independently in direct sales worldwide. But getting there isn’t easy. It takes grit to abandon the familiar grind and build a business — especially in direct sales.
Just ask Wayne Nugent, founder and chief visionary officer of WorldVentures(TM), the leading direct seller of travel and leisure club memberships. He got his start as a direct salesman and, after more than two decades in the business, he has seen it all. In that time, the industry has faced many challenges largely due to a minority of companies recruiting representatives, charging them large upfront fees and persuading them to purchase large volumes of nonreturnable inventory with little or no tangible value. Though many reputable companies exist today, mere mention of direct sales, multilevel marketing or network marketing can stir memories of the pyramid schemes and shattered dreams that made headlines in the past.
Nugent contends you can’t paint all network marketing companies with the same broad stroke. He created his company in 2005 to help people find fun, freedom and fulfillment through affordable travel with family and friends. The company’s success is based on the principle of work-life balance, a philosophy Nugent is spreading through a growing network of representatives who — in his words — Make a living … Living!(TM)
“I have a creation goal,” says Nugent, who also serves on the board of WorldVentures Foundation(TM), a nonprofit that supports sustainable programs for children in need worldwide. “If we get somebody making a little extra money per month, it gives them some financial breathing room. If they’ll pursue that with some consistency, and it’s fun, we can get them making more. At that point, they’re feeling abundant. So now, guess what they do? They give back. Network marketing makes this possible.”
On the move
According to the latest figures from the World Federation of Direct Selling Associations, global direct sales grew 7.7 percent in 2015, reaching a record $183.7 billion. The industry’s potential is particularly appealing to millennials now entering the workforce. These individuals born between 1977 and 2000 have witnessed their parents lose jobs despite devotion to their employers, then struggle to find work regardless of their education and experience. As a result, millennials embrace entrepreneurship as an alternate path to financial freedom.
The direct-to-consumer model has been leveraged successfully to sell goods and services in the cosmetics, household wares, nutrition, travel and technology industries for more than half a century. Growth and longevity aside, there are several reasons to consider a career in direct sales, including:
After you’ve taken the leap and joined a direct-selling organization, what’s next? You’ve probably heard it so much that it sounds cliché, but staying around the campfire is key. Partnering with others and plugging into the trainings can mean the difference between mediocrity and meteoric success.
Whether you want to earn supplemental income or replace your current salary, Nugent says, “If you lean in and give 100 percent, this industry has the power to support all aspects of your well-being — financial, physical, emotional, spiritual and intellectual.”
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