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How to become an independent sales rep

How to Become an Independent Sales Rep

1. Two key questions. If you are interested in becoming an Independent Sales Representative, there are two key questions that you need to ask yourself:

a. Do I have the financial stability to go 2 – 3 months without receiving a commission check? When a principal is looking to outsource their sales functions, they are either looking to enter into other territories or need assistance to service and improve existing client relationships. Question 1 is of particular importance for a new and untapped market. The reality is that there is a sales cycle associated with all products which, most often, span weeks or even months. Principals will rarely pay commissions based on unfulfilled orders. Payment schedules can also typically range from COD up to Net 45 days. Including the time to make the first sale, delivery, payment to principal, and commission check mailed, it can be several months before you receive your first commission check.

b. What Industries Do I Have Experience In? Principals expect prior experience with a certain product range or industry type. This holds true in virtually all industries. To start out successfully, it is important for you to have contacts to make initial presentations. Principals may be willing to give you a line but without experience, it can take a significant amount of time to develop sales.

2. Start Your Business. As an independent rep, you should start your own business (LLC, S-Corp, C-Corp, etc.). There are many advantages ranging from tax benefits to liability protection. It is suggested that you speak with an accountant to determine what the best option is for you. Most accountants or lawyers can help set up the business for you. There are also many online sites that can perform this function (depending on services provided, typical pricing ranges from $100 – $500). Example: www.bizfilings.com

3. Business Plan. Rather than sending out a Resume, principals will be impressed if you have put together a business plan which will detail your goals and objectives. The best thing about being an Independent Sales Rep is that there are only two primary functions: Sales and Customer Service. The principal takes care of all other aspects which include manufacturing, research and development, quotations, invoicing, shipping, and quality control. The business plan doesn’t need to be long but should detail simple points such as:

a. Industries Covered

b. Territories Willing to Cover

c. Revenue Sources

d. Preferred market segment

e. Sales focus (OEM’s, end users, distributors, resellers, etc)

f. Product/Service focus

g. Organization structure – Will you be alone or do you plan on having employees?

h. Facilities
* Will you be a home-based business or will you have an office?
* Will the office have storage for consignment or warehousing?

i. Policies and Procedures

4. Finding Lines Available. With steps 1 – 3 behind you, your objective now is to find product lines. A few sources include:

a. Trade publications and trade web sites.

b. Trade Shows

c. RepHunter.net at http://www.rephunter.net

5. Landing that Line. After you have identified several lines available, it is important to research the company and get a good understanding of their products and needs. Fundamental needs include the following:

a. Principals are looking for reps to help develop a relationship between themselves and the client. The basic focus is building strong relationships.

b. Principals want their reps to be professional and prepared. For new reps, a marketing plan can really be a big advantage.

c. Principals need to know that you will be giving their products time and that you are prepared to cover the required territory.

d. In the absence of an established revenue stream, principals need to know that you are financially stable. The last thing they want to do is spend time and money over several weeks to wind up having their rep drop them for financial reasons. By conveying your goals to meet these needs, you will stand a better chance of landing that line to represent.

6. The Sales Process We break down sales into two primary functions:

a. Getting Appointments. We consider the process of getting good face to face sales time with a new customer as 50 percent of the sales effort. For many businesses, the purchasing power can fall on one of several positions. In a manufacturing facility, for example, purchasing can be the responsibility of Purchasing, Maintenance, Engineering, Plant Managers, Store Room managers, Inventory Control, Office Managers, etc. One of the hardest things to do in a complex business environment is to get the right people to listen to your presentation.

b. The Sales Pitch. At the start, this is an area where the tools available to you become most valuable. For any new rep, the absolute best resource to help you become successful is to bring in your principal’s sales manager. While this method may not be practical for all cases, it should be considered where applicable. Long term, it will be your responsibility to perform sales presentations. For the first few months, however, the principals will be very happy if you can set up sales presentations which will maximize their time and efforts. It serves as an excellent method of training and will show your principal that you have the ability to get to the right people. Having your sales manager make some initial presentations will also help improve closing rates and shrink the overall sales cycle. The other advantage includes credibility.

7. Set up a web site. It’s easy and a great way to promote your new business.

8. Keep your new principals happy. The best way is to make sure they know you are actively promoting their products include:

a. Write Call Reports.

b. Get quotation requests.

c. Ask lots of questions.

d. Request travel time with your sales manager, if applicable.

How starting your own ‘country club’ can skyrocket your revenues

How Starting Your Own ‘Country Club’ Can Skyrocket Your Revenues !

My mom was visiting recently and during our mother-daughter shopping time I noticed something interesting. Almost all of the stores I made a purchase at asked me if I’d like to get on their mailing list. That’s very smart.

However, the WAY in which they did this made a big difference in my answer. I said NO to almost all of them because they simply did not make it enticing for me. I mean, who WANTS more junk mail? So if you simply ask me if I’d like to be on your mailing list, the answer will usually be NO.

But one store in particular got me. First of all, it was a designer clothing store I loved. Second of all, they didn’t ask me if I wanted to be on their mailing list. They invited me to become a “VIP Client”.

Say the words “VIP” to me and my ears perk up. It of course stands for “very important person”. And in general it indicates a level of advantage and prestige. Suddenly I WANTED to be on that mailing list, especially when the salesman explained to me it came with certain benefits, such as early notice on new arrivals, a personal shopping service, and private trunk shows.

And you know what? I would have even paid to be part of that – to be regarded as a VIP.

You see, people WANT to be part of something special like ezine writing. The example above was free. But don’t underestimate how much your clients or customers will PAY to do that, either.

Example: A friend of mine recently shared he pays $15,000.00 a year to belong to the President’s Club of a local playhouse, even though he and his wife could attend each show there for just $150.00. Why would even a loyal attendee want to pay 100 times more? Special treatment like preferred seating, valet parking, invites to VIP functions, private restaurant for members only, networking with a higher level of people, etc.

Another friend of mine pays for membership at a private nightclub here in Los Angeles up on Sunset Blvd. for many of the same reasons (but more so, I believe, because it impresses his dates ; )).

My marketing mentor Dan Kennedy taught me there is a segment of virtually EVERY customer or client group or market who will happily pay FAR above standard prices for convenience, status, and special treatment.

I call it “country clubbing” your business. Why be the driving range with an hourly charge when you can be the classy six-figure membership club down the street? You can offer both of course, but look at what will skyrocket your business FASTER, with less transactions and higher quality clients.

One example of this is my private Platinum Mastermind program, which I launched in 2006 due to overwhelming demand for my personal coaching. This group of 15 serious small business owners each pay $15,000.00 a year to have greater access to me than anyone else, and in a small group setting where we meet 3 times a year at luxurious 4- and 5-star hotels and resorts.

My Platinums are, essentially, VIPs in my world! And because I maintain a bit of mystique about the group, people seem to want “in” even more. (One of my members got cornered in the ladies room at my last Online Success Blueprint Workshop by several attendees who demanded to know how they could get into Platinum!)

I share this not to impress you, but to impress upon you that in YOUR market (yes, *yours*) there IS a percentage of folks who will gladly pay MORE – much more – for a higher level of service or treatment. Remember, you’re not trying to please EVERYBODY, just the select few who can afford that level of service.

So now, take a minute or two and consider how YOU can start your own “country club” for your clients and customers. Whether it’s a VIP level of service or a private client group that meets a few times a year.

To get your wheels turning, imagine this… if you can get 10 people to commit to some type of program that is just $10,000.00 a year, that’s an extra $100,000.00 this year for YOU!

Injection molding

Injection Molding

Do you know the name of the process by which most plastic solid materials are produced? It is called Injection molding. It is a simple process. However, the process may require practice for efficiency.

What is the process of Injection molding?

During the process of plastic injection molding, the plastic is heated till it melts and is introduced, under pressure (injected), into a mold. The mold may be made up of any metal such as steel or aluminum. The molten form is then allowed to cool down and set into a solid form. The plastic material thus formed is then retrieved out of the mold.

The actual process of plastic molding is just an expansion of this basic mechanism. The plastic is let into a barrel or chamber under gravity or force-fed. As it moves down, the increasing temperature melts the plastic. Then, the molten plastic is forcibly injected into the mold under the barrel with an appropriate shape. As the plastic cools, it solidifies. The plastic molded like this has a reverse shape than that of the mold. A variety of shapes both 2D and 3D, can be produced by the process. The process of plastic molding is cheap due to the simplicity involved and the quality of the plastic material is modifiable by changing the factors involved in the custom injection molding process:

- The pressure of injection can be changed to change the hardness of the final product.

- The thickness of the mold also governs the quality of the article produced.

- The temperature for melting and cooling determine the quality of the plastic formed.

ADVANTAGES

The major advantage of injection molding is that it is very cost effective and fast. Apart from this, unlike the cutting processes, this process rules out any undesired sharp edges. Also, this process produces smooth and finished products that require no further finishing.

For more knowledge on injection molding, you may visit us at www.emachineshop.com. We are the first online service to provide the opportunity of ordering virtually any machine part over Internet through our website. You will be provided with free design software, which lets you draw and order the machine part you want. The software provides instant pricing information and once your order is confirmed, the parts will be delivered where specified. Let the world’s first online machine shop provide you virtually with any type of custom part. Visit the site www.emachineshop.com and get detailed information about the site.

How to use your mind to create products

How to Use Your Mind to Create Products!

Use your mind to create wealth. The oldest secret trick in the book gets revealed.

When it comes to creating wealth it seems everyone is looking for an easy way out. Well, I am here to tell you that there simply is not one. There is no such thing as money for nothing; however, ways we can work smarter, as opposed to harder do exist. I first came across the term financial intelligence, during the stock market boom of the 1980′s, when people were making vast sums of money relatively easily and in a short space of time.

These people were trading property as if it was some sort of hot commodity, like an IPO is today. For more details go to www.explosive-product-launches.com They had basically struck upon a certain formula which allowed them to leverage the power of supply and demand and create wealth like never before. Honestly, it was like selling shovels to gold miners and being the only shovel seller in town. Hence the term financial intelligence

Nowadays, if you want to create wealth you do need to be a little savvy in terms of being able to spot a lucrative venture. It seems the art of this revolves around finding business systems which have very low overheads and high profits. It is an age old formula, used first by the original currency inventors of the world, but it never ceases to amaze me the amount of people who miss it and cannot recognize it, even when it is staring them in the face.

The Internet is one such example, which, if you are savvy enough, offers the business person a huge opportunity to manufacture and deliver a product at virtually no cost. Therefore the markup in profits becomes immeasurable. Take this hypothetical scenario. To know more about it login to www.instant-software-products.com And it grows exponentially, as sales pick up. Now, past a certain point, because there was no measurable cost factor involved, they cannot accurately measure profits in terms of a percentage. This is financial intelligence at work.

It only becomes an unworkable model when we start to put ourselves on a measurable hourly rate. It is then that, as the saying goes, time is money. But this is an illusion. I say this because, how does one go about working out what volume of time equates to a specific volume of money?

http://www.create-online-business.com
http://www.profiting-info-products.com

How to purchase quality used laboratory equipment and used medical equipment on the internet

How To Purchase Quality Used Laboratory Equipment And Used Medical Equipment On The Internet

One of the latest organizations that is making it easier for the medical community to interact with the technology that is offered by the internet is Medflip Inc.  This organization is a virtual auction site that allows medical professionals from all over the world an opportunity to buy and sell used laboratory equipment as well as used medical equipment.  Facilities that would not otherwise stand a chance at being able to purchase various types of medical equipment that they can use to diagnose illnesses and care for their patients now have the opportunity to find what they need at a lower cost thanks to this website.  Healthcare professionals from all over the world can sell their used equipment on this site and gain back some of the cost that they incur when they update to newer equipment as well.  The website eliminates waste of older used medical equipment and used laboratory equipment by giving sellers a chance to sell this equipment at their online auction site and also providing buyers an opportunity to afford the equipment that they need to enable them to better serve their patients, even if they are on a very limited budget.

Medflip Inc is very unique in that it is an online auction site that is devoted to the buying and selling of used medical equipment as well as used laboratory equipment.  Instead of purchasing this equipment from a vendor, a medical professional can purchase the equipment from another facility that may have updated their equipment or even gone out of practice.  The site provides a full customer support team that will be able to answer questions as well as assist clients with shipping and packaging the items that are sold.  There is even a want ad section on the site that allows those who are seeking a certain type of equipment that may not be available to ask for such equipment and be first in line to buy it from another medical professional. Medflip Inc. is not a distributor of used medical equipment or used laboratory equipment, but an auction site that helps facilitate deals between buyers and sellers of such equipment. 

Small hospitals, clinics and even private practices can find affordable used medical equipment as well as used laboratory equipment that they might not think that they can afford by using Medflip.  This site is the answer to those facilities that may be on a very limited budget but who want to provide the best care possible to their patients to be able to do so.  Facilities such as rehab centers, nursing homes and more can use such items as wheelchairs, lift chairs, hospital beds and more that they can find at a huge savings when they go on this site for used medical equipment.  In addition, institutions such as schools that might not be able to afford new laboratory equipment can find used laboratory equipment that can help them better educate students who may be studying research.  There are countless benefits to using Medflip for anyone who is in the healthcare industry and who wants to save money while still being able to afford quality equipment for patient care. 

Medflip is an online auction site that enables buyers to be able to afford equipment that they might not otherwise be able to purchase while allowing sellers to get rid of equipment that they are no longer using and passing it on to those who need this equipment. 

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