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Photo by Hannah Stelzl

I returned from DC last night, having spent the day with a solution provider in the software space.  One thing  that stands out and is worth repeating here is the discovery of a profit multiplier.  According to Jim Collins, every company should have an economic engine, and most resellers can put more on the bottom line if they figure out what the multiplier are and where profits are leaking out.  The comment that triggered our direction should be understood by all resellers, “Thinking your sales  team will double sales this year simply by working harder is tempting by unrealistic.”  I would add, that setting strong financial goals and then hoping to acheive them without a significant change to the way you do business is foolish thinking.

Once identified, we were able to come up with twenty ways to stop the leak.  Not all 20 will prove to be do-able or realistic short term fixes, but 4 or 5 of them stood out clearly as ways to multiply bottom line profits over the next several months.

Isn’t it worth taking some time out of the field to study the business model, identify the levers that multiply the business, and formulate a strategy to get them in motion?  This is what it means to work on the business rather than always working in the business.

© 2011, David Stelzl

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Social Networking

June 24, 2010 — Leave a comment

Some key points from today’s training on Social Media Marketing with and Business Service Management Sales Training with BMC Partners;

  • Sales and marketing must come together – sales people build their own brand
  • Buyers want expert advisers in business service management, ITIL, change management etc.  The sales person can no longer say, “I’m in sales”, but must rather be positioned as a consultant in one of more of these areas.
  • Every sales person should be commenting on blogs in their industry, using phrases that are searchable through Google, and considering building their own blog with links back to their corporate websites.
  • Publish,post, and tweet unique, edgy, controversial, and pointed information.  People want opinions not more bits and bytes.
  • Don’t advertise in social media.  No one wants to read another product special.
  • Build out your linkedIn profile – it’s your billboard so use it.  Use first person to create you summary, list searchable areas of expertise, and make is readable and interesting.
  • Connect with people – don’t be shy.  You’re in sales…
  • Join groups, create groups, and get involved in delivering unique content that will brand you as the expert.
  • Don’t underestimate the power of twitter.
  • Build a following.

© David Stelzl, 2010

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I’ve just arrived in Dallas to kick off the week with BMC partners and a workshop on great messaging – here are some thoughts from my young entrepreneurs just before heading out…check it out: