The Private Business Owner

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Need More Sales? Establish Quotas, Compensation Packages

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It may seem obvious, but setting quotas for the sales team is the best way to grow your company’s revenue. Yet less than 50 percent of middle market companies establish quotas and compensate accordingly, says the National Center for the Middle Market (NCMM) at Ohio State University.

The center found that companies with sales quotas produced revenue gains by more than 10% compared to slower-growing organizations.

While you, the entrepreneurial head of the company, may dread the thought of committing to a sales structure, your salespeople will perform better if expectations are set and clearly communicated. This requires not only sales quotas but also a well-designed compensation program.

Here are some tips on getting sales quotas and sales compensation right. [Read more…]

Top 4 Benefits of Joining a Chamber of Commerce

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When you run a business, the multitude of tasks can be overwhelming. There’s strategy to deploy, marketing to implement, clients to manage, sales orders to fulfill and that’s just before lunch! How can a business owner get the most from these long days?

Believe it or not, your local chamber of commerce may be the most valuable professional membership available. After all, this is a group dedicated to economic opportunity and prosperity.

First, identify the right chamber for your company. A small, local printing shop may find it most helpful to join a small suburban chamber while a larger business may get more benefit from aligning with a regional or state chamber. A middle-market company with international sales may look to the U.S. Chamber of Commerce for support.

Once you’ve found the chamber of commerce you think will best help your company, look for the following valuable benefits. [Read more…]

Top 10 Videos Every Business Owner Needs to Watch Now

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Don’t have time to attend conferences or lectures where the best and brightest are speaking? No worries. You can listen to videos that will help you improve your business or challenge your thinking about what is best for your company.

Here are the top 10 videos every businessperson should watch.

1. Building a Formidable Brand

Tony Hsieh, CEO of the online shoe and clothing shop Zappos, explains how Zappos grew to a billion-dollar brand by concentrating on exceptional customer service.

[Read more…]

5 Essential Tasks for Your Corporate Website

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The company website, while far from a new-fangled thing, still gets treated by many business owners like an annoying brochure – not worth their attention and finished when launched. This could be one of the biggest marketing mistakes made by small-to-medium sized businesses.

A static, unprofessional website doesn’t work as hard for your company as it can and should, nor does it provide return on your investment.

To find out if your corporate website is working as hard as it should, ask yourself if your site performs these five essential tasks: [Read more…]