Videos uploaded by user “Ian Johnson”
Strategic Planning: SWOT & TOWS Analysis
http://www.driveyoursuccess.com/2011/09/strategic-business-planning-use-tows-to-move-swot-to-an-action-plan.html - Link explains how to use TOWS to move SWOT to an action plan. http://www.driveyoursuccess.com Video explains both the SWOT analysis and TOWS analysis in strategic planning
Views: 215538 Ian Johnson
B2B Purchasing Negotiation Five Strategies to Reduce Vendor Prices
The following video outlines five purchasing and procurement strategies all geared towards lowering vendor prices and or reducing supply chain and inventory management costs. These strategies are put forth from someone who has worked in sales and marketing for 20 years and wanted to combine the best strategies employed by the best purchasing negotiation teams. In essence, these strategies come from those purchasing and procurement agents I have negotiated with. They include the most successful strategies employed against me. The first includes not tipping your hand and or broadcasting your needs too soon in the negotiation process with a salesperson. Instead, nail down your price and then use your requests, needs and or concession to reduce pricing. For instance, agree upon a final price and then ask for a discount or reduced price for 1) prepaying total or a portion of your purchase, 2) prompt payment incentives like net-10 day terms 1 to 2 percent discount or 3) increasing volumes or committing to long-term supply contracts or orders. The second tip includes avoiding using veiled threats - which are simply threats you have no intention of following through on. When you threaten vendors too much without ever following through on a threat, then you are simply training them not to take your threats seriously. Third, match a high-value concession for a high-value concession. In this case, come up with a list of requests and or "must-haves" as outcomes from the price negotiation. When the salesperson makes a request, make sure you counter with one of your own of equal value. Fourth, when it comes to getting price reductions from a salesperson, you have to sometimes appeal to their better nature. In this case, add a little personal touch to your negotiations. Ask for a price reduction by outlining the pressures and demands that are placed upon you as a purchasing agent. In this case, you have to attain a certain inventory cost structure so ask your salesperson to help you attain that. Finally, keep your vendor honest by constantly going out for competitive bids. Even the best of vendors can become complacent. However, if they know you know as much about pricing in the market as they do, then those vendors will be less likely to take advantage of you.
Views: 126715 Ian Johnson
Calculating Hourly Rates for a Contractor or Small Business
http://www.driveyoursuccess.com This video explains the process behind coming up with an hourly rate for a contractor or small business owner
Views: 464813 Ian Johnson
Your Price is too High: Handling Customer Price Demands
http://www.driveyoursuccess.com Do you need your salespeople to better defend your pricing? Are you tired of them constantly giving in to a customer's demand for lower prices? If so, then this video will help your sales team. The video provides six areas where your salespeople can get your customers to focus on something other than the sticker price of your product. Here are the six strategies to helping your salespeople better defend your product or service's price. 1) Focus on cost-per-use and longevity benefits: If your product lasts longer than the competition, then define that in a dollar value savings for your customer. 2) Quality: Is your quality vastly superior to that of your competitors? If so, then your customer doesn't just save on usage. They also save on inventory costs as your products are less likely to get damage or even fail in service. 3) Can your sales team focus on increased yields and performance? If so, then make sure they use this when discussing pricing. 4) Vendor Managed Inventory (VMI) is a great solution to moving past the price of your product or service. Consignment agreements allow you to ship large volume of product to your customers without them having to pay for it all at once. Instead, they only pay for what they use in the month they use it. Your customer reduces their pricing and their per-unit freight costs on incoming shipments which results in lower inventory costs. 5) Finally, what about adopting a loss leader pricing strategy, one where you keep your primary product's pricing as is, but offer your customer a discount on a less important product. This video will help you answer those customers who claim your pricing is way too high.
Views: 50033 Ian Johnson
Bullwhip Forrester Effect: How Sudden Demand Increases Affect Supply Chains
The bullwhip effect, or more commonly referred to as the Forrester effect, concerns supply chain disruptions that occur when demand suddenly spikes upwards. These sudden and unforeseen spikes in customer demand force every member of a given supply chain to increase their inventory counts in anticipation of future volumes and sales. Unfortunately, a week or two later and that demand is non-existent. Companies must understand the bullwhip effect and know their place within a given supply chain. Once they understand their position, they can be better prepared to handle sudden increases in customer demand. The video provides an example of a consumer-based product where the supply chain is defined by the retailer who purchases from the wholesaler who purchases from the distributor who then purchases from the manufacturer. The video provides insight into five critical areas that companies should track and be aware of when suddenly coming face-to-face with an unscheduled increase in demand.
Views: 26118 Ian Johnson
Market Feasibility Study: More Important Than a Business Plan
http://www.driveyoursuccess.com What could be more important than a well-defined and well-researched business plan? Well, most entrepreneurs think that having a business plan is the first thing they must do. Unfortunately, they're wrong. A market feasibility study is the all-important first step. After all, if the market is dying or won't allow your new venture to enter, then why bother with a business plan? No matter how strong your business plan is, if your market isn't willing to give you a chance, or is unhealthy, then you won't get anywhere. This video explains why performing a market feasibility study is so important to successfully starting a new business. It defines the health of the market, the potential for market growth and your chances of succeeding. This video explains how the information you gather through your study can be used to make your business plan that much better.
Views: 56977 Ian Johnson
Five B2B Cold-Calling Mistakes That Cost You Sales & Customers
http://www.driveyoursuccess.com This video outlines the most common cold-calling mistakes that B2B salespeople make. Contrary to popular belief, cold-calling isn't dead and won't go away any time soon. While there are a number of online advertisements all bestowing the benefits of not having to cold call, the reality is that at some point you have to make that all-important first call. How you handle that initial call will define your ability to move forward or be cast aside. First, don't ask your prospect how they are doing today. Your prospect is almost never doing well - and asking that gives them an out - they can easily answer with "not well, please call back later" Second, don't ask "is now a good time?". Again, it's never a good time. Avoid this entirely. This is another out your customer can take by easily saying it's not a good time you'll have to call back. Third, go right into your 15 second intro. Don't give your prospect an opportunity to close the door. Don't ask how they're doing, if now is a good time or if they have the time. Just go right into your 15 second intro. Fourth, focus on a specific value proposition - a product or service that no other company has. This is one you can easily distinguish versus your competition. The choice is yours: You can talk about something everyone has - or you can talk about something nobody else has - something that makes all other offers obsolete. Fifth, use a proper set up: We are not option "A" or option "C" - we are option "B" - then pause - if that option is something the customer has never heard of before, you pause and wait. Eventually, they'll ask you to explain why your option, your product is so different.
Views: 45003 Ian Johnson
B2B Sales Cold Calling: Objections, Roadblocks and Customer Stall Tactics
The following video explains the most common customer stall tactics used when salespeople do cold calls. These five common customer objections and roadblocks are designed to intimidate salespeople and stall just enough for the salesperson to get off the phone. There are two types of cold calls. One is a warm call. This is when your marketing has done a good job getting your message out into your market. The customer may never have purchased from you, and may not know you personally, but they've heard of your company and or know what you're about. In this case, your marketing has set the stage to allow your salespeople to begin a more accepting discussion. The other is an extreme cold call. In this case, the customer has no idea who you are, what your company does or the types of products you sell. It's an extremely "cold" cold call. When performing one of these extremely cold calls, customers just want to get off the phone. Your job is to validate these five common objections and roadblocks and then proceed immediately into your 15 second intro/sales pitch. Acknowledge their statement and then move forward. The most common customer stall tactics in B2B sales cold-calling are summarized below. 1) I don't have time now 2) I am just about to enter a meeting 3) Can you call back? 4) I am leaving for the day, for vacation etc 5) Oh, I've heard about you guys. Again, acknowledge these customer statements and then just proceed with the call. Remember, these high-level executives, decision makers and C-Level contacts have at one-time filled the same role you are filling now. So, they know your job is to sell. Stick to your guns and make your point immediately,
Views: 8358 Ian Johnson
Manufacturing Work Cell Optimization: Design, Layout and Cycle Time Analysis
http://www.driveyoursuccess.com This video provides insight into the three essentials of manufacturing work cell optimization, design & layout
Views: 84117 Ian Johnson
Dell Push-Pull Supply Chain Strategy
http://www.driveyoursuccess.com This video explains how to run Dell's Push-Pull supply chain strategy. Additional Sources: http://www.youtube.com/watch?v=PmNEvV8ArAE Dell Kan-Ban: Kan Ban Manufacturing System: Lean Principles -
Views: 68154 Ian Johnson
Calculating Safety Stock: Protecting Against Stock Outs
The following video explains how to calculate safety stock in order to avoid the high costs of inventory shortages and stock-outs. The video explains inventory replenishment times, daily consumption, safety stock thresholds and levels, and your company’s own time to market in terms of delivery. A graph is provided that clearly shows what the reorder point should be and what the safety stock levels should be. A working example is provided where a company tracks a number of inventory replenishment times, their own daily consumption levels, the safety stock amount they need to cover during these consumption periods and then finally, your company’s delivery times for finished goods to your customer base. http://www.driveyoursuccess.com Video provides four steps to calculate safety stock Additional Sources: http://www.driveyoursuccess.com/2011/08/determining-safety-stock-its-impact-on-inventory-holding-costs.html This article outlines four steps to safety stock management
Views: 141975 Ian Johnson
B2B Sales Cold Calling: Three Simple Steps
The following B2B Sales Cold-Calling video is an absolute must for any company that asks its salespeople to call new prospects. The video explains the importance of clearly defining the company’s value proposition or value assertion. This value proposition includes external and internal influences that define the company’s value to its customers and market. The next portion of the video outlines the most common customer fears and concerns. A complete list of customer fears is provided so that the salesperson understands how to understand these issues and roadblocks when they are present in the call. Finally, the last portion outlines the importance of using leading questions after you have done your 15 second introduction or 15 second sales pitch. Using leading questions is critical to cold-calling. The three steps involved in a successful B2B sales cold call are 1) understanding your company’s value proposition, 2) understanding and identifying the customer’s fears and concerns and 3) using leading questions to get customers to speak about their fears and concerns so that you can tie it back into how your company’s value assertion and proposition can remove those issues http://www.driveyoursuccess.com Video explains three essential steps to B2B sales cold calling success Additional Sources: http://www.driveyoursuccess.com/2013/05/b2b-sales-cold-calling-three-steps-to-success-your-value-assertion-customer-concerns-and-leading-questions.html - B2B Sales Cold Calling: Three Steps to Success -- Your Value Assertion, Customer Concerns and Leading Questions
Views: 132180 Ian Johnson
Spaghetti Diagrams Six Sigma: De-Cluttering Production Shop Floors
Video explains how spaghetti diagrams are ideal six sigma lean manufacturing tools that help you to de-clutter your production shop floor. The process involves mapping out your shop floor on a white board or on paper by clearly defining separate work cells and work stations. The first step involves speaking with your production employees and making sure they understand that you are tracking and measuring how work flows from one cell to the next. In essence, you are analyzing the process of work and not the individuals themselves. Second, once you've mapped out your shop floor, you need to use sequential numbers and lines that define the current flow of work from one cell to the next. Third, go onto your shop floor and use a measuring wheel to define the length in feet from one cell to the next. Fourth, track the time it takes to move parts from one cell to the next. Pay close attention to any obstructions such as pillars and beams. Do not trace lines on your whiteboard or paper through these obstructions. It's called a spaghetti diagram because the lines go around these obstructions and not through them. Finally, be sure to track the times and keep a running list of these times from each step in the production process. At the end of the exercise you should have a summary of distance between steps and time between steps. In manufacturing, there is a cycle time for the finished good and then there are separate times for each operation. Part of the overall cycle time for the finished good involves the transit times between production work cells and stations. This means that reducing the distance between adjacent cells will lower transit times, reduce cycle times and increase production throughput.
Views: 13812 Ian Johnson
B2B Sales Negotiation Essentials
http://www.driveyoursuccess.com This video explains how to deal with price, concessions and customer scare tactics in negotiation
Views: 12964 Ian Johnson
Five Low Cost Marketing Strategies for Small Businesses
http://www.driveyoursuccess.com Video explains five low-cost marketing strategies for small businesses.
Views: 158507 Ian Johnson
Vendor Managed Inventory (VMI): Pros & Cons of Managing a Customer's Inventory
http://www.driveyoursuccess.com The following video outlines five ways that vendor managed inventory (VMI) works. Simply put, VMI is when a vendor manages the physical inventory counts at the customer's facility. There are several ways this is done. First, the vendor can position an employee at the customer's facility to manage the inventory. The employee is employed by the vendor but stays at the customer's facility to manage the vendor's inventory. Second, a physical inventory replenishment in vendor managed inventory agreements includes an individual bringing inventory with them and physically replenishing stocking levels. You'll see this in small stores, or a 7/11 when someone comes and replenishes the beer, chips, coke etc. The third approach is when a vendor has access to the customer's inventory system. In this case, they manage the customer's inventory counts from their own office by reviewing inventory counts through the customer's MRP or ERP system. The fourth approach involves the barcoding the inventory and providing a summary of usage to the vendor. The vendor then replenishes the inventory based on the usage provided by the customer. A simply solution might also include providing images or photos of the inventory and or a summary excel sheet. The excel sheet is best used in conjunction with an image. This approach is best used by small and medium-sized enterprises. Finally, the last strategy includes the vendor renting out physical warehouse space from the customer and or renting out space adjacent to the customer's facility. Ultimately, the benefits of this type of arrangement for the vendor are that they are able to remain the incumbent supplier. They are assured of getting the customer's business. As such, they reduce their lost sales cost of inventory. Another benefit is that they help their customer plan better. In fact, a vendor managed inventory agreement is ideal for customers who can't plan. However, the drawbacks include carrying costs and the issue of a customer who suddenly wants to return product. How is this handled by the vendor?
Views: 19690 Ian Johnson
B2B Sales Channels Distributor vs Sales Agent
http://www.driveyoursuccess.com Looking to make a decision on whether to sell your products through a distributor or a sales agent? If so, then this video is exactly what you are looking for. The video explains how business-to-business (B2B) enterprises should go about choosing a B2B sales channel. First, it starts by defining the pros and cons of selling products through a distributor versus selling products through a sales agent. The pros of selling through a distributor include benefiting from the distributors network of salespeople, their contacts, their knowledge and their market insight. The cons of selling through a distributor include not knowing the final pricing customers see, not fully understanding where your company fits in the distributor's priorities and not knowing what types of mark-up or margins the distributor is taking. In terms of the sales agent, the pros are that you only have to pay a sales agent a commission on the sale. Also, you don't have to worry about who provides pricing to your customers. When selling through a sales agent, you control the pricing your customers see which means you control market pricing. However, the cons of selling through a sales agent or sales firm include the fact that many aren't committed long-term. Some sales agents aren't product specialists and some will sell anything to anybody. Finally, the article explains why using benchmarks and key performance indicators is so important when measuring the success or failure of your B2B sales channel - whether it is selling through a distributor or a sales agent.
Views: 15564 Ian Johnson
15 B2B Low Cost Lead Generation Strategies
The following video outlines 15 low-cost lead generation strategies that can be applied to business-to-business (B2B) markets as well as business-to-consumer (B2C) markets. Companies must come to understand that they don't need huge marketing budgets in order to generate leads. There are a number of zero-cost marketing strategies that produce a high number of qualified leads. Some of the lead generation strategies include podcasts, webcasts, email marketing, newsletters, cross-promotion, content, pay-per-click advertising, blogging, and writing free content for social media forums and other industry-trade publications. The purpose is to get customers to come up with their own list of ways to generate leads without having to spend too much money. This list of 15 low-cost lead generation strategies can be expanded upon quite easily by anyone in marketing willing to take the time to investigate ways of generating targeted traffic.
Views: 42802 Ian Johnson
Strategic Planning: PEST Analysis and Contingency Planning
The following video outlines how small and medium-sized enterprises (SMEs) and large corporations can use the PEST analysis in strategic planning. PEST stands for Political, Economical, Socio-Cultural and Technological variables that can easily impact businesses, their plans and their market. A working example is provided of a small and medium-sized enterprise using the PEST analysis in order to better anticipate future business disruptions. The focus is to understand how these external variables can directly impact a company’s growth. The Political variables include tax policies, labor policies and government laws and regulations concerning the party in power and any potential change in power through the election process that may put a political party in power that has different business policies. The Economical variables include fluctuating business cycles, economic activity, and current interest rates. The Socio-Cultural changes include lifestyle changes, preferences, changing customer segments and dynamics. The Technological variables include research and development, competing technologies and issues pertaining to data accumulation and transfer. http://www.driveyoursuccess.com Video explains the PEST analysis and how it can be used to come up with contingency plans
Views: 52309 Ian Johnson
Calculating EOQ - Economic Order Quantity (Inventory Costs & Purchasing Costs)
http://www.driveyoursuccess.com This video explains how to calculate economic order quantity using the time-tested Wilson EOQ formula. The video provides a step-by-step process to defining the economic order quantity for any company. It takes into consideration the company's annual or yearly consumption, the price it pays for each unit it purchases for its inventory, the cost to make that purchase and finally, the company's costs to hold inventory on a monthly basis. Determining the annual or yearly consumption is fairly straightforward. Simply take a total of all the inventory of a given part used in a year. Next, take the amount your company pays for that part or raw material. Determining your company's costs to purchase doesn't merely involve totaling your total volume multiplied by price. Instead, it's more about defining what it costs your company to make a purchase. How much does it cost your company to purchase from a vendor? Your costs to purchase include time spent to approve and sign purchase requisitions. It also includes the time spent placing that order and sending it to your vendor. Next, the costs of inspecting the order are accounted for and finally, the costs of paying your vendor. The Wilson EOQ formula involves doubling your yearly consumption total and multiplying it by your company's cost to purchase. This amount is then divided by the sum of the raw material or part's price multiplied by its inventory holding costs. The Wilson EOQ formula is an excellent tool for making sure your company doesn't buy too much or too little.
Views: 152947 Ian Johnson
Choosing a Supply Chain Strategy
http://www.driveyoursuccess.com The best supply chain strategy is one that meets the needs of your market, its customers and your business model.
Views: 29185 Ian Johnson
Small Business Sales Forecasting
http://www.driveyoursuccess.com This video provides insight into how using PERT: Project Evaluation & Review Technique can help small businesses improve their sales forecasting accuracy. It provides some simple steps to using PERT as a formula to improve sales forecasting.
Views: 26493 Ian Johnson
Bank Financing vs. Receivables Factoring
http://www.driveyoursuccess.com Costs of financing receivables with a bank versus receivables factoring. The video breaks down how to compare costs and how to use a sample excel spreadsheet on www.driveyoursuccess.com that compares financing with a bank versus financing with receivables financing.
Views: 22565 Ian Johnson
Just in Time (JIT) Supply Chains
http://www.driveyoursuccess.com The following video outlines the conditions for success in a JIT, Just in Time, supply chain.
Views: 44961 Ian Johnson
Inventory Costs: Holding Costs & Lost Sales
http://www.driveyoursuccess.com The following video explains the two main cost drivers of inventory; high carrying costs & lost sales cost of inventory
Views: 25167 Ian Johnson
Min-Max Inventory Supply Chain Strategies
http://www.driveyoursuccess.com Defining the conditions for running and succeeding with Min-Max inventory management.
Views: 32772 Ian Johnson
Salespeople Compensation Plans: Base, Commission and Total Compensation
http://www.driveyoursuccess.com The following video explains two different approaches to compensating salespeople. These two options are essentially, low base salary with a high commission structure versus a high base salary and low commission structure. A low base salary with a high commission structure for salespeople is ideally suited to those situations where the salesperson is constantly fed with qualified leads from marketing. They work with short sales cycles where customers make immediate decisions on purchases. These salespeople operate in a large market, have a substantial client list to sell to and are able to call upon a large inventory of finished goods. Their job is to ensure that inventory moves quickly. However, because they operate in a large market with a lot of potential for sales, their compensation structure should be build around a low base and high commission structure. When it comes to a high base and low commission structure, you are really looking for business development professionals as opposed to strict salespeople. In this case, these sales compensation plans are best suited to long sales cycles, long inventory turns, technical (cost-per-use) sales strategies and a situation where the salesperson has to qualify the leads themselves. A high base and low commission structure is needed in this type of role because the salesperson is charged with opening up new markets, new territories and new business. They must generate their own leads, and deal with extremely long sales cycles. So, they can't push too hard too early for a customer decision.
Views: 20098 Ian Johnson
Consignment Inventory Pros and Cons
http://www.driveyoursuccess.com This video explains pros and cons of consignment inventory agreements for vendors and customers Additional Sources: http://www.driveyoursuccess.com/2010/10/supply-chain-management-pros-cons-of-consignment-inventory.html Supply Chain Management: Pros & Cons of Consignment Inventory
Views: 20722 Ian Johnson
Lean Manufacturing: Cycle Time Analysis, Variance Tracking & Eliminating Work Stoppages
http://www.driveyoursuccess.com The following video is a summary of a project that was run for a small manufacturer were we analyzed their production throughput, performed cycle time analysis and review while also tracking the variances in those cycle times. We use three methods to calculate average in cycle time analysis for this and other projects. These three are the mean, the mode and the median. The video explains how to calculate manufacturing cycle time averages in these three aforementioned ways. The mean is the one we always associate as average. This simply involves taking all the cycle times in a given sample portion and dividing it by the number of operations or cycle times captured. The next method of the mode manufacturing cycle time which is simply the cycle time that appears most frequently during the sample portion. Ultimately, the mode is often the one where the work stoppages and downtime are not a factor. As such, it's often the best benchmark for cycle time analysis. Finally, the median involves re-configuring all the times from lowest to highest and using the following calculation to identify the average time: Median { ( N + 1 ) / 2 } where N is the number of operations. In this case, it's 10 +1 = 11 divided by 2 which is 5.5. Therefore, we isolate the cycle time in-between the 5th and 6th time. Finally, all of these cycle times are placed on a graph in order to identify the variances in cycle times and high and low points. The idea is to isolate the root causes of high and low cycle times while putting a plan in motion to eliminate causes of work stoppages. For access to the excel spreadsheet where this example comes from, please click on the link below. http://www.driveyoursuccess.com/2012/01/cycle-time-tracking-variance-analysis-in-excel-for-small-manufacturers.html
Views: 40355 Ian Johnson
Kan Ban Manufacturing Layout: Lean Principles
http://www.driveyoursuccess.com This video explains how a Kan Ban manufacturing system works for a fixed & semi-fixed bill of materials Additional Sources: http://www.driveyoursuccess.com/2012/01/sample-kan-ban-contract-finished-inventory-semi-finished-inventory-raw-materials-inventory.html Sample Kan Ban Contract
Views: 18115 Ian Johnson
B2B Sales: Lagging and Leading Indicators Drive Sales
http://www.driveyoursuccess.com This video explains how to come up with sales leading indicators. Additional Sources: http://www.driveyoursuccess.com/2013/03/lagging-indicators-vs-leading-indicators-in-b2b-sales-forecasting.html Lagging Indicators vs. Leading Indicators in B2B Sales Forecasting
Views: 7553 Ian Johnson
Manufacturer Price Sheet: Material, Labor, Overhead & Profit
The following video breaks down how a manufacturer should come up with a price for industrial finished goods. First, the company must account for its material costs and apply a 5 percent indirect cost to that portion of the manufacturer's price sheet. This 5 percent is meant to offset overruns in production and or additional costs of financing inventory and material purchases. Second, the company must account for its labor relative to each operation performed to turn a raw material into a finished good. The calculation involves defining the operation and applying the labor cost to both the setup time in manufacturing and the actual run time. Third, all labor costs are added in order to come up with a complete total for all the costs of manufacturing a given product. Those costs are then followed up by the company's overhead, which is calculated by taking its indirect expenses divided by its direct expenses. Indirect expenses are those expenses that are in addition to the the costs needed to produce a part. Direct expenses are exactly that. These include the costs involved or expenses involved in manufacturing the part. Finally, the company adds its mark-up in order to secure a profit on the sale. Profit is critical because it helps to fund the company's pursuit of new product introductions and secure its long-term future. Here is a sample of the Manufacturer Price Sheet in Excel Format http://www.driveyoursuccess.com Video explains how to price a product with direct material, labor, overhead and profit
Views: 35917 Ian Johnson
B2B Sales: Customer Fears and Concerns - Getting Prospects to Move Forward
http://www.driveyoursuccess.com This video explains how to identify and handle customer fears and concerns in business-to-business sales. Additional Sources: http://www.driveyoursuccess.com/2011/05/sales-negotiation-training-identifying-a-customers-fears-concerns.html - Understanding fears and concerns
Views: 3839 Ian Johnson
Asset-Based Financing Options for Businesses
http://www.driveyoursuccess.com Video explaining asset-based financing options of factoring, purchase order financing and inventory financing
Views: 8206 Ian Johnson
Value Chain Analysis and Value Assertion
http://www.driveyoursuccess.com The following explains how to define your company's value chain and use it to define your value assertion http://www.driveyoursuccess.com/2012/08/your-value-chain-defines-your-value-assertion-b2b-marketing-essentials.html "Your Value Chain Defines Your Value Assertion: B2B Marketing Essentials" http://www.driveyoursuccess.com/2012/05/defining-value-assertion-and-value-proposition-in-business-development.html/ "Defining Value Assertion and Value Proposition in Business Development"
Views: 25685 Ian Johnson
B2B Sales Forecasting Tips
http://www.driveyoursuccess.com the following video provides insight into four essential tools your company can use to improve its sales forecast accuracy.
Views: 5551 Ian Johnson
Manufacturing Work Cell Setup
http://www.driveyoursuccess.com The following video provides insight into how manufacturers can use a simple 5 step process to setting up the ideal work cell.
Views: 3371 Ian Johnson
Cost of Capital, Cost of Money for Businesses
http://www.driveyoursuccess.com This video explains what is involved in determining a company's cost of capital, or put differently, its daily cost of money.
Views: 5230 Ian Johnson
B2B Sales: Pre-Call and Pre-Quote Checklist
http://www.driveyoursuccess.com Your company must come up with its own pre-call/pre-quote checklist before providing pricing Additional Sources: http://www.driveyoursuccess.com/2010/08/b2b-sales-success-be-a-rookie-again---simple-questions-to-win-business.html - Simple Questions That Win Business
Views: 5820 Ian Johnson
B2B Branding: Management and Strategies
http://www.driveyoursuccess.com This video explains the essentials of building your B2B brand by finding and using your brand champions.
Views: 5626 Ian Johnson
Customer Retention: Using a Rebate and Reward Program
http://www.driveyoursuccess.com This video explains how to use simple back end rebate program to increase customer retention.
Views: 3225 Ian Johnson
Pareto Charts: Work Stoppages & Downtime in Manufacturing
http://www.driveyoursuccess.com The following video explains Pareto Charts and capturing lost time, work stoppages and downtime in manufacturing. The focus of the video is to explain how to track the causes of work stoppages, the number of times those work stoppages occur, the percentage of those individual work stoppages and the total percentage of work stoppages over all. A Pareto Chart is used in order to define whether or not 80% of the work stoppages in production are the result of the top 20% of causes. The work stoppages must be tracked accordingly. Each work stoppage has an affect on cycle times and production throughput. The video explains how to use a Pareto Chart to isolate the largest causes of downtime and eliminate them as going concerns. It's ultimately about identifying why work stoppages occur, their frequency and how best to reduce their impact. If successful, your company will increase its production throughput.
Views: 10405 Ian Johnson
B2B Sales: Appointment Setting With Customers
http://www.driveyoursuccess.com This video explains the essentials behind setting up those all-important B2B sales visits with customers. A company's cost of sales includes its costs to send salespeople on the road. Confirming appointments, and making sure the customer is available to meet, is a critical part of any trip. The customer must come to understand that you are traveling a great distance to see them. It could involve traveling to another state, in a different country and or timezone. As such, it's critical that you do everything to ensure that the visit is a success. Now, truth be told, the real purpose of this exercise is to make sure you've done everything possible to guarantee that your customer meets you. In this case, they may still cancel at the last minute, but you've done everything you can to make sure they were available to meet. First, get a confirmation by reply email or outlook scheduling Second, have a back up plan by name dropping other contacts at the customer's facility. This ensures that your customer knows you plan on visiting multiple key decision makers. Third, send one all-encompassing confirming email to all contacts, stating the time, date and purpose of the visit. Fourth, ask if there is anything they would like you to look into before coming down. Follow these four aforementioned steps and your B2B customer visits should be true successes.
Views: 8105 Ian Johnson
Sample Marketing Budget: Cost of Leads, Qualified Leads and Cost of Customers
The following video explains how a company can us a marketing budget in order to track lead generation and the number of qualified leads that come from individual marketing strategies. First, the company must track marketing expenditures by month by itemizing which marketing strategies it is employing and how much the company is spending on each strategy. Second, the company must then total all these marketing expenditures in order to come up with a total monthly cost of marketing. Third, the company can then total up the expenditures across all three months in order to define the costs for the quarter. Fourth the company then totals up its revenue by month and by quarter and determines how much it spends on marketing as a percentage of that revenue. Tracking the percentage helps the company to set goals and objective that are conducive to growing revenue and keeping customers. Finally, the company defines its costs of lead generation by tracking how many leads, qualified leads and customers come from each marketing campaign. For a sample marketing budget excel table, please go to: http://www.driveyoursuccess.com/2011/01/sample-marketing-budget-excel-sheet-graph-pie-chart-of-expenditures.html
Views: 9542 Ian Johnson
Calculate Warrehouse Inventory Carrying Costs Per Square Foot
http://www.driveyoursuccess.com This video explains how to determine a company's specific inventory carrying costs and how to turn that value into a cost per square foot within your warehouse Additional Sources: http://www.driveyoursuccess.com/2011/04/sample-excel-sheet-calculating-inventory-holding-costs.html Sample Excel Sheet Calculating Inventory Holding Costs
Views: 15359 Ian Johnson
Five B2B Cash Flow Management Strategies: Business Capital & Financing
The following video is for any company looking for simple cash flow management strategies. The video outlines five easy-to-implement and easy-to-use strategies that are all focused on saving money. Ultimately, cash flow management is all about saving capital. The first cash flow strategy includes leasing capital expenditures. This includes any equipment, machinery, laptops, cell phones, and or any computers. Ultimately you should purchase or buy appreciating assets and lease depreciating assets. An appreciating asset would be real-estate while a depreciating asset would be a car, truck and or any equipment. When you lease capital expenditures, you are able to reduce your company's tax burden because by depreciating the capital asset you are reducing your revenues (on paper) and therefore lowering your tax burden. The second strategy includes combining conventional financing options like banks and credit unions with alternative financing options like asset-based lending options like factoring and purchase order financing. With this option, a financing company advances you a percentage of your invoice's value upfront so you can avoid financing receivables for 30, 60, 90 or even 120 days. Combining conventional financing with alternative financing helps to keep more cash on hand. Another strategy includes incentivizing customers to prepay for orders. Even getting them to prepay 20 or 50 percent is good for cash flow. Use whatever you can to get your customers to prepay the total value of the order or a portion of the order. Either way, getting cash upfront helps you better manage cash flow while reducing your costs of financing receivables. A fourth strategy includes pursuing un-creditworthy customers. These customers have no choice but to prepay their orders. Also, very few companies actually focus on un-creditworthy customers. In fact, most avoid them altogether. This makes them easy to pursue on sales. Remember, when a customer prepays their order, your company's gross profit on sale sis higher - you avoid financing and you improve your cash position. Finally, when you have plenty of cash on hand, be sure to prepay your vendors for your own invoices. When you do, ask for a 1 to 2 percent discount with net-10 day terms for prompt payments or 3 to 5 percent for prepayment. When you save money you keep more cash in your business.
Views: 2835 Ian Johnson
B2B vs B2C Customer Service
http://www.driveyoursuccess.com The following video provides insight into the inherent differences of B2B vs. B2C customer service.
Views: 9708 Ian Johnson
Inventory Carrying Costs Versus Higher Volume Purchases
http://www.driveyoursuccess.com The following video explains how to measure higher volume purchases against a company's inventory carrying costs
Views: 4941 Ian Johnson
Calculate Market Share: Sales GAP Analysis Customer, Territory & Market
http://www.driveyoursuccess.com The sales GAP analysis is a critical tool to defining opportunities at customers, within larger sales territories and within a company's entire market. http://www.driveyoursuccess.com/2011/05/sample-sales-territory-gap-analysis-excel-sheet-with-pie-chart.html - Additional Source. The following video explains how to calculate a company's market share by using a Gap Analysis. A market share gap analysis is simply a statement of what business you have now versus what remains to be pursued. However, in order to define what remains to be pursued, your sales team must perform the analysis at the customer level first and then use multiple analyses to define the Gap within a given territory. Those territories are then combined in order to define your overall market share. Using a Gap analysis at the customer account level will simplify how your company defines goals and objectives for its sales team. It will make your sales budgets and forecasts far more accurate because it will be a statement of account in terms of the business you must defend versus the business your salesperson should close. Using the Gap analysis across multiple customers will help you and your sales team better manage sales territories and geographies. The video starts by explaining why you should base your analysis by gross profit as gross profit is the key indicator of sales performance. Next, it explains how to account for the current sales at your customer's account versus what remains to be pursued. Afterwards, the video shows how to combine multiple customer Gap analyses into a single territory Gap analysis. It ends by showing you how to use multiple territory analyses to define your overall market share.
Views: 14793 Ian Johnson
Manufacturing Productivity Rate - Work Cell
http://www.driveyoursuccess.com The following video shows how manufacturers can use a simple and straightforward process to analyze productivity rates in a given manufacturing work station. It provides insight into how best to capture lost time, track cycle times and determine amount of units produced in a given work cell.
Views: 9168 Ian Johnson