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Add You - Measuring Training's Value: Metrics Lite
A limited liability company or LLC is a business organization that is a hybrid between partnership or sole proprietorship and corporation. Limited liability corporations are known to allow the most flexible management agreements. They also give a lot of freedom regarding allocation of income. This means that the members are allowed to distribute the income in any way they wish, as agreed upon by all of them, without the need for additional filings.Similar to the owners of partnerships or sole proprietorships, LLC owners report business profits or losses on their personal income tax returns. The LLC itself is not a separate taxable entity. Like in corporation, in LLC, all owners are protected from personal liability in case of business claims and debts. This implies that if the organization owes money or faces a lawsuit for some reason, only the assets of the organization are at risk. Creditors usually cannot reach the personal assets of the LLC owners,
Despite these inherent challenges, we agree that evaluating training is wise and a necessary process. However, the process doe
We all know that prospecting for buyers and sellers is essential to the success of any good salesperson, the problem is that we all seem to chase the same carrot. I believe that there are easy ways to go about this sometimes daunting task, and there are hard ways.My team and I met recently and because the holiday season is upon us I gave them what I think is the easiest telephone technique in building their business that I know of. This suggestion in my opinion is a golden nugget and it is based on building your direct contact business and your referral business.Many of the people that I have worked with over the years are timid when it comes to getting on the phone to look for business, this is something that pretty much all salespeople can relate too.These fears prompted me to think of ways to get people to work on their business using methods that get people around these fear tendencies. As I mentioned, at this time it just so happe
Isolating training from the many factors that may positively and negatively impact its success is a major pitfall in the evaluation process. Most training professionals recognize that the best training in the world may not be able to overcome the impact of poor management, low morale, unsatisfactory compensation structures, unreasonable sales goals, and a variety of other factors. Conversely, all too often mediocre training appears superb when supported with a marketing blitz, product price reductions, or economic upswings.
Despite these inherent challenges, we agree that evaluating training is wise and a necessary process. However, the process does
Many companies laugh off the idea of using inside sales or telemarketing professionals in order to generate leads or close business over the phone. Yet the biggest companies and the best in class firms across just about every industry are using that as part of their arsenal in order to accelerate their sales and drive their growth. It’s a lot more efficient to deploy inside sales people and telemarketing professionals than it is to use outside field sales professionals for the same function.Often, there’s a big gap between marketing and lead generation programs and field sales people that can only be filled by inside sales or telemarketing professionals. Companies use telesales & telemarketing in a variety of ways: Perhaps, they are doing lead generation qualification or they’re following up on leads that are coming from marketing programs. Or, they are actually performing inside sales functions and closing deals over the phone. There’s also a hyb
Isolating training from the many factors that may positively and negatively impact its success is a major pitfall in the evaluation process. Most training professionals recognize that the best training in the world may not be able to overcome the impact of poor management, low morale, unsatisfactory compensation structures, unreasonable sales goals, and a variety of other factors. Conversely, all too often mediocre training appears superb when supported with a marketing blitz, product price reductions, or economic upswings.
Despite these inherent challenges, we agree that evaluating training is wise and a necessary process. However, the process doe
Learn how in-store promotions can boost employee loyalty and positively affect your bottom line. Get some tips to increase customer sales that are fun and easy to implement. This short article has a lot of great ideas.The store owner or manager will designate an item to promote for one week. Sales can be tracked by cash register tapes or retaining product ticket stubs. The employee who sells the most during the promotional period will receive a certificate of appreciation and a reward. This might be a choice of a special discount on store merchandise, a check, or a gift card for a free dinner at a fine restaurant. Let employees know that these promotions are meant to be fun and profitable for everyone, not a way to pit employees against one another.Hold paid monthly sales meetings which all employees attend. Ideally the meeting should be before or after store hours. If this is not possible, designate a different employee to attend each month so
Isolating training from the many factors that may positively and negatively impact its success is a major pitfall in the evaluation process. Most training professionals recognize that the best training in the world may not be able to overcome the impact of poor management, low morale, unsatisfactory compensation structures, unreasonable sales goals, and a variety of other factors. Conversely, all too often mediocre training appears superb when supported with a marketing blitz, product price reductions, or economic upswings.
Despite these inherent challenges, we agree that evaluating training is wise and a necessary process. However, the process doe
There are two ways to successfully market a window painting business. One is through seasonal advertising and the other is through marketing during non season times. Both avenues have merit and can prove to be financially rewarding especially if the focus combines both.The easiest way to approach your business is to begin by focusing on the seasons. Retailers recognize the importance of taking advantage of the higher traffic produced by special occasions, and are willing to spend their marketing dollars to further expose themselves to potential customers. An entrepreneur owning a window painting business could do very well exposing their clients at this time. The major holiday season by far is Christmas. Traffic count is at an all time high, and selling this type of product is relatively simple as it adds to the already apparent excitement in the air. Other seasons to consider are Easter, Valentine’s Day, Back to School and Halloween. Approa
Despite these inherent challenges, we agree that evaluating training is wise and a necessary process. However, the process doe
For many years as a sales manager, I would only hire the stereotypical sales representative. You know the type—on a human relations continuum or scale of zero to ten, with the ten representing a candidate who is totally gregarious and outgoing and the zero, someone who is introverted with few people skills, I’d always recruit the ten. As an advisor to businesses and professional service firms on how to build an effective sales team, I would also council my clients to hire “tens.” Big mistake!Pareto's principle (the 80/20 Rule) is vividly illustrated in most industries by the fact that 80 percent of the sales are closed by only 20 percent of the sales professionals. After 24 years of working with literally thousands of sales representatives and service industry professionals as an advisor, trainer and coach, I have learned an important truth--that the ten personality is rarely found in the ranks of the top 20 percent of the sales professionals who produ
Despite these inherent challenges, we agree that evaluating training is wise and a necessary process. However, the process doesn’t need to become a science project with empirical evidence to “prove” that the training intervention was solely responsible for the results.
Many organizations want to measure results, but are unable to provide the resources in time and money to support the process. To help those organizations, we suggest a lighter (tastes great, less filling) approach: “Metrics Lite.” “Metrics Lite” employs Donald L. Kirkpatrick’s 4 Levels of Evaluating Training Programs process as simply stated below:
Level 1: Reaction - Participant reaction to the training
Level 2: Learning - Change or increase in knowledge or skills
Level 3: Behavior - Extent of the application of learning
Level 4: Results - Effect on the business resulting from the training
To illustrate the “Metrics Lite” approach we offer a real-life case st
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