Welcome to our July 2008 newsletter!

In this month's newsletter:

News from CEO David Baumgarten
City of Sydney Business Awards
How to give a little bit extra in customer service

What to do when the sale stalls
NAB and BECA join forces to support small business
Let's Talk Business seminar series a success

DATES FOR YOUR DIARY

Burwood Business Breakfast - 22 July
Small business basics, City - 7 July, 5.30 pm-7.00 pm
Small business basics, Bankstown - 16 July, 9.30apm-11.00 am
Small business basics, Bondi Junction - 22 July, 3.30 pm-7.00 pm

To find out more and book online see our Networking Calendars:
ESBEC - Networking Calendar
Clearly Business - Networking Calendar

News from CEO David Baumgarten

I know you have been asking: where has our monthly BEC newsletter been?

It is hard to believe the end of the financial year is upon us. Like many of you, I am asking myself - 'where did the last six months go?'

At the Business Enterprise Centre we get to pause and take a deep breath in July. This time of the year is traditionally a quiet month. I like to take the opportunity to do some forward planning and have another good look at our system and procedures.

We will also be putting systems in place around some new initiatives, including the new BEC Federal Initiative.

Another one of my projects this month is to collate a list of all consultants on our database. You may get an email from me seeking an update on your expertise.

Our networking event this month is the Burwood Business Breakfast on 22 July. Come along and find out how to deliver that little bit extra in customer service to gain a competitive edge.

I would also like to take this opportunity to encourage you to enter your nomination for the City of Sydney Business Awards. (link below)

Have a great month

David Baumgarten
CEO

City of Sydney Business Awards

The 2008 City of Sydney Business Awards are now open for nominations.

These Awards offer your business the chance to receive recognition in your industry, your community and among your customers, suppliers, friends and family for the achievements of the past year.

There are 25 award categories covering all business types, open to all businesses with fewer than 200 employees located in the City of Sydney.

Important dates to remember:
Business Nominations: 2 June - 25 July
Public Vote (online and SMS): 27 June - 25 July
Finalists announced: 29 July
Judging: 29 July - 22 August
Gala Awards Night: 27 August

I cannot overstress the importance of Business Awards. They are an opportunity of profiling your business and if you win or a runner up it gives you great positioning.
For more information please visit www.sydneybusinessawards.com.au

Download City of Sydney Business Awards Flyer PDF

Download City of Sydney Business Awards Press Release PDF

The City of Sydney Business Awards are produced with the support of major sponsors: ANZ Business Banking, EnergyAustralia, Department of State and Regional Development - Small Business, Clearly Business Enterprise Centre, NetSuite and Carbon Planet, with green hosting provided by Anchor.

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That little extra in customer service

Burwood Business Breakfast, 22 July 2008

Businesses that are winning a larger slice of their market do so thanks to service professionals skilled in the art of delivering outstanding customer service. Successful organisations know how to build a loyal clientele and meet ongoing challenges effectively.

Finding out how to deliver "that little extra" to your customers is vital for achieving success in today's tough and competitive business environment. Come along to the next Burwood Business Breakfast to learn more.

For more information or to book online see our Networking Calendars:
ESBEC - Networking Calendar
Clearly Business - Networking Calendar

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What to do when the sale stalls?

by Karen Andrews at Shine Sales Solutions

How many stalled sales do you have in your sales pipeline right now?

Does this scenario sound familiar? You feel as though you have done everything right. You have connected well with your prospect, they have explained their business and relevant personal issues and you are working directly with the person who has the authority and ability to make the decision. They have given you all the right buying signals but you can't get them to sign on the dotted line and now they aren't returning your calls.

In order to jumpstart a stalled sale, you must first diagnose the reasons behind it. The problem may not be simply that the sale stalls, but that we just don't recognise it soon enough and waste valuable time and resources on dead-end opportunities.

Little connection to a critical business issue

How is your solution addressing a business issue for your customer or prospect? For each opportunity in your sales pipeline answer this question: Why does your prospect want to buy this product or service?

If you are not able to communicate to your prospect how your solution can:

• improve revenue, productivity, quality or efficiency
• save time or money
• solve a critical problem, challenge or frustration that the business is facing

then you can expect your sale to stall.

Business owners and senior executives only spend time on matters that directly impact their business. If you cannot identify a reason why your prospect needs your solution and you want to jumpstart the sale, try to meet with your prospect again to discuss their critical business issues rather than your solutions.

Customers are busy

The end of a sale often becomes difficult when your customer or prospect stops returning your calls and emails, overnight. It appears as though they have lost interest and the sale has gone cold… or has it?

Many of us find it difficult to get everything done during the work day or experience unexpected problems which take our focus elsewhere and your customers are no different. In fact, the better the prospect the busier they are likely to be.

It is important not to panic at this stage and let the customer or prospect fall away or to annoy them with endless phone calls and messages.

Keep momentum by maintaining regular contact, acknowledge your client is busy and perhaps ask them when would be an appropriate day or time for you to call and follow up.

"I want to think it over"

When a customer says, "I want to think it over," this may not always be the case. Some are actually saying "thanks but no thanks" to avoid a potentially negative and uncomfortable situation, although some genuinely do want to think it over or talk to their business partner. The important thing is to be able to identify the difference between the two.

Some people just need a little push and a little help to make the decision. They may find making decisions difficult and are afraid of making the wrong decision. To many, no decision is the best decision.

When the prospect says, "I want to think it over," it is important to acknowledge and respect that. Smile and say, "That's a good idea, this is an important decision and I completely understand your need to think about it". This will help the prospect to relax.

Say to the prospect, "Obviously you have a good reason for wanting to think it over. May I ask what the reason is?"

This gives you the opportunity to see how genuine the prospect is, to uncover their real concerns and objections and to say, "If we could do this, would that solve the problem?"

It important to then leave or you will lose this person as a prospect and begin a never-ending game of phone tag and follow-up.

Fear of rejection

A major obstacle to selling is the fear of rejection or criticism. This fear can jeopardise all your hard work as your sales simply slip through your fingers and go cold.

Fear of rejection is a genuine emotion that many people in sales experience at one point or another and can be overcome through practice and by changing your mindset about sales and follow-up. Sales is not about being pushy and arrogant, it is about you communicating your ability to help and solve problems.

Did you know that one of the biggest complaints consumers have about salespeople is that they don't follow up?

Your customers are busy too, so making a quick courtesy call to see how the decision is progressing may actually be doing them a favour. Who knows, they may have been meaning to call you all along but have simply been too busy.

If you or your company is planning a sales meeting this year, then I may be able to help you. I help sales teams pinpoint what they need to do differently to get better results and close more sales.

Email Karen at kandrews@shinesales.com.au or call 02 9437 6500.

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NAB and BECA join forces to support small business

The National Australia Bank (NAB) and Business Enterprise Centres Australia (BECA) are offering an innovative program that provides eligible small businesses access to finance to start or grow their business.

NAB microenterprise loans are unsecured business loans of between $500 and $20,000 for people on low income who may have difficulty accessing usual avenues of credit. The loans are available to help start up or support existing businesses with five or fewer employees, including sole traders and home-based businesses.

To be considered for an NAB microenterprise loan applicants must meet the following eligibility criteria:

• completion of BEC Australia-approved training in Small Business Management, Business Skills and Business Plan Development
• operation of a business for at least 6 months
• seeking a business loan of between $500 and $20,000 to continue an enterprise with 5 or fewer employees
• 18 years and over
• Australian citizen or permanent Australian resident
• willing to continue to work with a BEC mentor for at least 12 months
• non-eligibility for a normal NAB business loan.

For more information, email daniel@clearlybusiness.com.au .

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Let's Talk Business seminar series a success

The Let's Talk Business seminar series has now finished, with more than 400 clients attending the four seminars that have run since March.

The series was presented by the partnership of the City of Sydney and Clearly Business Enterprise Centre (Sydney).

Thanks to all of our presenters for sharing their expertise and to the team from the City of Sydney - Andrea, Tina and Shaun - for their vision and commitment to the series. Special thanks also to my team at the Clearly Business office who brought it all together.

Stay tuned for our next exciting partnership with the City Of Sydney!

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Newsletter edited by Harvest Communication