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Ethics, Morality and Cut Throat Sales

Ethics and morality used to be used interchangeable in business. I do not believe this can or should be the current practice. Many businesses, including the DSA – Direct Sales Association have defined a Code of Ethics. Those business ethics basically say be forthcoming and not deceptive, don’t use false claims, etc.; pretty cut and dry stuff.

Yet when it comes to morality in business, some would argue that definition to be a bit subjective. But is it? Shouldn’t we all have a general sense of right and wrong? Or is it a matter of what’s right to one independent sales consultant would be highly taboo to another? If it’s not exactly illegal by company policies and procedures, does that mean anything goes in independent sales?

It’s a dog eat dog world. Desperate times call for desperate measures. It’s a cut-throat economy out there. True or False? First let’s take a look at what is meant by “cut-throat sales”.

According to one responder on Yahoo Answers: “If you work in a “cut throat sales” environment, it means that the reps are all either starving, lazy or greedy. They will “cut your throat” by stealing your customers/prospects the minute you turn your back.” The same responder continued, “If you have the stomach for it, you can make great money. If you have morals and ethics, you may get ulcers and stress – I did.”

Headlines of a Nov. 26, 2008 Newspaper read: “The cut-throat Christmas: Stores in price-slash frenzy as battle for shoppers gets desperate.

Most of us would agree that Cut Throat Sales is much more than being keen and aggressive – it’s more about being desperate. But does it work?

Some Direct Sales companies have a policy about territories. It’s my understanding that Mary Kay Cosmetic independent consultants are required to ask potential customers if they already have a Mary Kay consultant. If so, they must back off. Other companies have a clause that reads something like: No Territory Restrictions – There are no exclusive territories granted to anyone.

Take this scenario for example: A Direct Sales company consultant has a display set up in a local business to generate leads. A consultant from the same company also happens to patronize this business; sees the display; and still tries to infiltrate the business and make those customers and employees her own customers. Assuming there are no territory restrictions, is this practice acceptable or no? What if the second consultant is from the same company but is on a different team? Is that free enterprise or is that an immoral business practice? Does your response change at all if both consultants are on the same team?

How do you feel about this second example: A consultant attends a family celebration and gives her direct sales products as a gift. Other guests admire the item; yet the consultant who gave the gift merely responds, “I’m glad you like it.” Then within the confines of this same conversation, another guest, who also happens to be a consultant with the same company, whips out catalogs and starts a sales pitch in the middle of the family celebration, declaring, “oh I sell that too!” Morally wrong or all is fair is business? Does it matter if both of these consultants are on the same team?

Here’s my feeling on both of these situations – take what you like and discard the rest: They’re both wrong, no matter if the consultants are on the same team or not, but it makes it even more immoral if they happen to be on the same team. In the first situation, if the second consultant didn’t think to request a display first, then she should move on to another business. There are plenty of leads to go around without needed to be cut throat about it.

In the second scenario, I’m shocked and disgusted that someone would even under cut the first consultant who quietly gave the item as a gift. The second consultant did nothing but create awkwardness and cause herself to look like a real buffoon. The second consultant will self-destruct with that kind of desperate cut throat sales tactics. It does not work and it’s just plain wrong.

Here’s the rub – anyone who doesn’t see these two above examples as immorality in business probably partakes in those kinds of activities. He or she likely sees cut throat sales as the only way to be successful. My wager is that if there are temporary sales successes in this type of behavior, it’s short lived and the perpetrators will continually need to move on from company to company once bridges are burned and the self-implosion is finalized.

To those folks – I wish you well; you’re going to need it. To those direct sales independent consultants who see something fundamentally wrong with this type of activity, try not to let the choices of others consume you and steal you of your joy. Keep running your business with authenticity and integrity – you’ll soar among eagles!

A Proven Method to Cut Advertising and Marketing Costs and Increase Sales Revenue

When it comes to advertising your business, you have an unlimited number of choices: newspapers, yellow pages, online, in magazines, through direct mail, on television, on the radio, etc. As the marketing director for a national company, I receive countless advertising solicitations each week. Like you, I want the best return on my investment. I want to reach my target audience, for the lowest price possible, and be rewarded with a significant increase in my sales revenue. Here is, by far, the most cost effective way to accomplish this goal: an LED sign.

Now, you might be thinking that a sign is a big investment. Aren’t we in a recession? Why should you make a big investment during a recession? The answer is simple. The US Small Business Administration has done the research for you. They report:

“Businesses who added an outdoor LED sign enjoyed typical sales increases of 15% – 150%. Not only does an LED Display produce a great return on investment, it costs very little compared to other types of advertising. With an LED sign, the average cost to achieve 1000 impressions (CPT) on consumers as they pass your business is less than 10% of the cost to reach them using any other marketing medium, including TV, radio or newspaper.” That’s right. They are saying that if you begin using an LED sign to advertise your business, you can reduce your advertising costs to less than 10% of what you are paying for traditional mediums, and increase your sales by 15% to 150%! Does this sound too good to be true?

Sonic Restaurants across the United States have been installing LED signs. A Sonic Managing Partner reports, “Since my LED sign was installed, my night time business has increased about 20%.”

It isn’t just big businesses that are reaping the rewards. Pastor Fred Garmon of Harvest Temple Church of God purchased an LED sign for his church. He was “paying between $250-400 per month in newspaper ads. With our sign, we do not even use the newspaper anymore…which saves us money…” Churches see an increase in visitors when using LED signs, just as businesses see an increase in customers.

If a proven method of slashing you marketing costs and increasing your sales revenue has not caused you to leave this article to search out an LED supplier and get your own LED sign ordered, there are other benefits.

With an LED sign, you own the media and you control the content. With traditional advertising, you have to pay each time you run an ad. If you have a change or a new product to promote, you have to wait for the next issue to come out. With an LED Display, you are in control. You can change the message as often as you like. You don’t have to wait to advertise your special offers and there is no cost involved.
The US Small Business Administration reports that approximately 85% of a company’s customers live or work within 5 miles of the business location. These are the people who are passing by each day. An LED sign allows you to reach 100% of these potential customers. Moving messages capture people’s attention. In fact, LED signs often become community landmarks. The owner of Dairy Queen in Nocona, Texas says that “I cannot go anywhere in town that someone does not stop me and make a positive comment about my sign.” The bottom line: Everyone who drives by will notice your messages advertising and promoting your business.
LED signs provide immediate results. LED sign owners report that the signs have an immediate and significant impact on their sales. Warren Croft, Owner of Croft Lumber Company in Sayre, PA, purchased an LED sign for his business. The sign was featured in the local Sayre Times newspaper and when interviewed, Mr. Croft told this story: “Five minutes after the sign went up, a customer came in looking for an items we had advertised on the sign. He didn’t know we sold it. He drove by on his way home, saw it on the sign, turned around and came in and bought it.”

There may be a recession going on out there. It may also be a good time to invest in your business. Many LED suppliers offer easy lease options. Buyers experience the immediate benefits of LED sign ownership and the essentially pays for itself.

IT Outsourcing, Philippines – Helping Companies Cut Costs And Enhance Productivity

In the old times, most businesses used to conduct all their major functions through an in-house department or service provider. However, with the recession hurting the pockets of many corporations and medium-sized firms, many have begun transferring some of their “non-core” functions to third-party providers. Today, the concept of outsourcing has spread like wildfire among companies in the developed world; hence the birth of the term BPO, or business process outsourcing. Here’s a quick look at how outsourcing can help a company cut costs, and increase productivity at the same time.

The Benefits of Outsourcing

Business process outsourcing offers a wide array of benefits to overseas companies. It allows them to transfer some of their non-core company processes to external providers, who are often referred to as BPO firms. Many companies based in countries like the US, Canada, Australia and Europe have now outsourced a number of their core and none-core operations to countries like India, the Philippines and China, where labor costs are low, and there’s a large supply of talent. These countries are known for providing, and maintaining, good-quality output, and are preferred because they easily conform to strict international standards.

The Services Offered By BPO Companies

Business processing outsourcing firms offer a wide array of services. They provide software development, animation and content development, technical support and customer service, medical and legal transcription, finance, logistics, accounting, account management, accounts receivable collection, insurance claims processing, engineering and design, payroll processing, human resource, financial analysis and auditing, data processing and other essential back-office functions.

IT Outsourcing Philippines – The Advantages And Perks

The Philippines ranks high when it comes to the realm of business process outsourcing. The country currently ranks in the top 3 preferred global outsourcing destinations, which include India, China and others. The company consistently ranks as a favorite outsourcing destination because it has a large volume of English speakers, and it also churns out a large number of college graduates annually, who are proficient in information technology, business, accounting, and other skills. The country also is also seen as a better alternative to India because it offers more affordable operational costs.

Outsource Philippines has steadfastly clung to its reputation as one of the top business process outsourcing destinations in the planet. The country’s BPO industry has risen by 46 percent yearly, and the boom is mostly driven by the establishment of offshore call centers. According to the country’s Board of Investments, the BPO output for 2008 alone was a whopping $6.1 billion. In 2009, the nation’s BPO sector was forecasted to rake in from $7.2 to $7.5 billion in revenues. The IT outsourcing Philippines sector is expected to earn as much as $11 to $13 billion in 2010, and employ an additional 900,000 people.

To sustain the growth of the Philippine outsourcing industry, the government has offered a wide variety of fiscal and non-fiscal incentives to attract more foreign direct investments. The Board of Investments has also drafted an Investment Priority Plan, which focuses on the further development of the BPO sector, and other major industries.

First Step to Successful Entrepreneurship: 12 Ways to Cut Off High Business Startup Loans

When it comes to startups, the common problem that most entrepreneurs face today is the money to start a business. Being an entrepreneur is not easy, you have to take risks and move forward with optimism psychology. You need to think of ways by which you can obtain maximum output with minimum input. Well, that’s the basic rule of the business and widely followed by entrepreneurs all over the world. You need to be creative in what you do and innovative in your decisions. Few opt for business start up loans while few look for different alternatives. Bright ideas make a better future and some good initiatives can lead a foundation for you to become a successful entrepreneur. If money is scarce, that does not mean that you put your dream on hold, you always have better options to look forward. So, here are some creative ways to finance your business.

Steps to a Better future

• Sell your product to raise money – Well if you resale your product and find a suitable buyer, then you can raise funds for your business in an effective manner. No doubt there are many successful entrepreneurs all around the globes who started this way and once they complete their target, they expand their business with funds they collect.

• Support from family and friends – It is the traditional way and the most effective way in this contemporary world. You can convince your friends and family to invest or provide small business startup loan which may help you to implement your ideas better without any pressure. This way is much better than taking loans from any other alternative.

• Double Dipping – You can always start a side business to raise funds for your business startup. In this way you will not be under any kind of debt and burden and thus it is the safest way to start the business.

• Selling stuff – Well, sometimes it’s hard to sell out your stuff, but as Jarod Kintz said “Instead of burning the midnight oil, you should try to sell it”. Sometimes you have to compromise to achieve success. You can make good money out of it.

• Credit card – You can use a credit card to finance your money. This is an easy way, but it involves risk. If something goes wrong, then the interest rate goes up at a very high rate.

• Angel investors – It is one of the recommended methods and many leading companies like Google and Yahoo have used it. Angel investors give you the required amount to start up the business. You get a friendly environment and moreover a better and quicker way to deal with business.

• Microloans – You can lookout for various firms providing small loans for the young entrepreneurs. These firms are generally better than taking business startup loan from a bank.

• Get new order and deliver – There are a number of entrepreneurs who receive the order from the customer, but they are not able to supply due to lack of money for the production. There are some companies who provide loan in this scenario. With this you will be able to raise funds for your startup in a better way.

• Real estate – This is one investment which provides greater output if done after a research. Before investing your money, always do a little work to find out the current rates etc and do the right thing. With this you can raise money successfully without complications.

• Cut out liabilities – Well, it’s another creative way to earn good money. For example, you can rent your home for some time and raise a good amount of money by doing that. Many entrepreneurs have employed this way and were successful to earn enough money to start their business.

• Crowdfunding – It is a very popular way among entrepreneurs. In this you can make a good use of internet by finding people having similar thoughts on investing with small amounts. Collectively, these small amounts on adding up will provide you with a better alternative to startup your business.

• Financing by vendors – This is very helpful to obtain the material to sell your product. The manufacturers do not take any payment from you till your product is sold. In this way you get a better extension to sell your goods much efficiently.

After reading these 12 ideas, you must be very confident about your startup. But remember that things aren’t that easy as they seems. You need to work harder to achieve the best out of it. Moreover, just by visualizing ideas in your mind you won’t be able to implement them practically. You must be able to adapt according to the situations and work practically to achieve the requisite aim. Risk is always involved for young entrepreneurs, but that does not mean that you can’t do it. Overcome your fear and be creative and innovative and always ask yourself that do I have what it takes to become a successful entrepreneur?