Ellen Kirton

Dec 042012
 
How to Choose Professional Organizations to Join

In these challenging times when every dollar spent must be a wise investment, one of those decisions is where you should spend both  time and money  in terms of business development.  One thing is for sure, you will need to contribute in order to gain.  If you join a networking group thinking I’ll just attend and business will come my way, you’re going to be sorely disappointed. You will get out of a professional organization what you put into it.  Have a plan when you attend the various events on who you want to meet.  If there is a directory or listing of the members, identify at least 5 new prospects you would like to meet that either can directly [...]

Oct 152008
 
Commissions should produce the right sales

Oftentimes, employers build compensation plans to incent their employees to sell their product or service to obtain better sales results. What they often omit is ensuring that there is a balance between new sales and retention, both of which we will discuss. If you have a variety of products/services, and offer an incentive for a designated dollar amount of sales, then your salesperson can sell any level of product as long as they get to or exceed that designated dollar amount. It is a more profitable system to determine, in advance, what is your highest margined product/service and be sure that there is enough goal to ensure that the salesperson focuses the right amount of attention on that segment. An [...]

Jul 172008
 
Starting a New Business in a Recession

Image via Wikipedia Is this the time to start a new business? Having been a banker for over 35 years, I can tell you that some of the best companies were started during a recession because they addressed a need during an economic downturn that continued to be successful even as the economy rebounded. One such type company is the employee placement companies. When companies have to downsize and cannot keep on skilled individuals on a full time basis or pay them benefits, then employment agencies are an ideal answer to meeting the needs of completing a job without their having to have a full time employee. When the job is done, the temporary employee is returned to the agency [...]

Jul 042008
 

An important element of a company’s profitability is their payroll expense.  It is vital that a business owner realize the full cost of an employee, especially when considering adding to staff.  Some examples of these costs, in addition to regular pay and any any potential overtime, are: benefits such as health and/or life insurance, holiday and/or vacation pay, training, hiring costs, etc.  These are just a few of the additional costs that should be factored in when budgeting, whether it be with current staff or for the addition of new staff.  Each employee should be calculated and matched to their value to the company. The best way to ensure this is in the budget process.  List all costs associated with an [...]

Jul 032008
 

As a business owner hiring a new employee, do you consider what additional revenue this addition to the company will create.  The increased revenue can come from actual sales from the new employee or it could be that this employee @ $12.00/hour (plus any potential benefits paid), frees up an owner or sales representative to go out and generate additional sales at a much higher hourly rate.  Another example is where this $12.00/hour employee allows a manager, making a much higher wage and who is bogged down performing clerical tasks, to focus on tasks that will instead generate revenue or reduce costs for the company.  Here is an example:  An owner spends 2 hours on sales netting an average of $200 [...]