The Benefits Of Opting For Business Executive Coaching Services

As a leader of a business, you need to make sure that you hire the best employees who can accomplish business tasks properly. It is also the job of leaders to monitor their employees to make them more efficient. As for employees, it is imperative that they have leaders who can assist them in making the right decisions to boost their confidence at work. Fortunately, all these can be obtained by opting for business executive coaching services. By opting for coaching services from experts, businesses can even attain better benefits that can match their needs. Below are some of the following.

Enhance leadership skills

One of the main benefits of business executive coaching services is leaders can improve their skills. As of now, leaders and managers are the ones who are making plans and decisions to make their business stable and more profitable. But, to make the right decisions, individuals need to have the right skills and knowledge. And, opting for coaching services can allow them to attain all these which can help them achieve their business goals.

Boost professionalism

The next benefit of executive coaching is you can boost professionalism in your business. Of course, having good relationship with your employees at work allows them to be comfortable. Unfortunately, there are cases when employees do not listen to you since they forget their position in the business. So, by opting for coaching services, you can easily promote professionalism which can make your task better and more efficient.

Improve problems solving skills

Another benefit of coaching services is it allows leaders as well as employees to improve their problem solving skills. Issues at work can be dreadful most especially if it affects your performance. Luckily, coaching services allow employees to identify issues and solve it immediately. Not to mention, employees can also reduce risks at work which can help them accomplish their tasks effectively.

Enhance work performance

Finally, business coaching also allows individuals to enhance their work performance. Stress and anxiety are only some of the issues employees may encounter on their daily lives. With these issues, there are instances when they cannot finish their tasks on time. With the help of executive coaching experts, work can be easier and more efficient since they can help employees to be motivated.

With all these wonderful benefits, business owners are rest assured that they have the right employees who can help them achieve their goals and make their business more reputable and profitable.

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Sales Tips For The Advanced Business Development Manager

Whether you are an advanced account manager or a new business acquisition specialist, there are certain techniques and sales methodologies that will inevitably help the revenue generating numbers of a more seasoned sales professional. Despite the fact that, in the back of their minds, many know these techniques, they fail to implement them.

Inevitably, this failed tactical implementation often leads to less deals closed and the potential to miss quota. Below, you will find some more advanced business development and closing techniques that will help the members of any sales force increase their client hits and go well beyond their assigned quotas.

Do Your Research, Then Do More Research
As a mid to senior or even business development sales representative, doing the proper research on your target client is of the utmost importance. Too many professionals spend a lot of time and energy to gain a meeting with a target client, and then go into the in-person with little to no company and industry research completed.

This is one of the main separators between the average and the successful, heavy revenue generating business development representatives. Many companies and their respective employees don’t have the time to explain their business upon meeting any prospective sales professional. Therefore, they expect the business development professional to come equipped with their homework completed and with questions already set.

The basis of selling is asking the right questions and uncovering what the key needs of the client are. This is quite difficult to do when the sales representative knows little to nothing about the company and their prospective industry.

Listen, Then Speak
The most effective sales professionals listen more than they speak. The average sales representative will go into a prospective client meeting and do their “pitch” hoping only to hit one of the darts that they are throwing at those sitting on the other side of the table.

Instead, if the sales representative actually listens to the prospect, upon speaking they will know the right words to say and can easily pair the solutions that they have with the needs of the client.

Get The Client To Commit
Too many sales representatives put together great presentations and have great meetings with the client only to leave the further steps uncertain and in the air. Obtaining commitment is one of the key details that a sales representative must do. Therefore, instead of simply shaking hands and leaving the meeting, the sales representative should follow a set sales pipeline and get some sort of set obligation from the potential client.

This pledge can be something as small as another phone call at a specific date or as big as having the potential client ink the contract. Either way, commitment on the client’s side is key to a successful sales call for the business development representative.

Dress Like The Prospect
One of the biggest persuasion factors in both sales and in life is similar dress. Therefore, it is imperative that the sales representative finds out what the prospect(s) is going to be wearing – whether it be business casual or a suit and tie. On the sales representative’s side, this can be via a quick call or email to the prospect. This is just as key as the aforementioned tactics.

Ken Sundheim is President and Founder of KAS Placement “KAS Sales Recruiter”

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Secrets of Bonding 131: Maintenance Bonds – Breezy Free & Easy

Free surety bonds. Is there anything better? Actually I can think of a couple of things right off BUT… are they good? Sure they are.

Everybody likes free stuff. Trouble is, they’re not always breezy free or easy. Sometimes they’re a huge P.I.A. So let’s get into maintenance bonds and learn the issues.

The most common Maintenance Bond situation is a bonded public or private contract. The specification stipulates there must be a 100% (of the contract amount) Performance and Payment Bond plus a Maintenance Bond, which is often for a lesser amount, maybe 20% of the contract price. The maintenance bond covers the completed work for defective materials and workmanship, for a specified period of time.

The P&P bond is issued when the project commences, and the Maintenance Bond comes when the completed work is accepted. It is common for the project owner (obligee) to write an acceptance letter regarding the proper completion of the contract, and stating that the Maintenance Bond must now be issued.

For the surety, this bond is an easy decision. They already got paid for the P&P bond. They already faced the risk of claim due to faulty workmanship or materials. Now the contractor (Principal) will pay an additional premium to obtain another bond on the same work.

In some cases the surety doesn’t even charge for this bond following their P&P obligation – breezy free and easy! If they do charge, the rate may be less than for a P&P bond. So when is it not breezy free and easy… and why?

Timing

Maintenance bonds are normally required after the contract has been accepted (work completed). However, in some cases, the owner requires issuance concurrently – at the inception of the project. This is difficult for the surety to support because the approval of maintenance bonds may be relatively easy, but it is not automatic. The surety must decide if they want to accept the risk associated with the maintenance obligation. In part, this is predicated on the smooth performance / completion of the contract. If the job was fraught with problems and difficult to complete, they may not want to support the such an obligation.

Requiring the underwriter to issue the bond at the beginning takes away the opportunity to make an informed decision.

General Underwriting Concerns

There is a time factor involved in each of these bonds. The surety must be confident that for the one or two-year period, the principal will be willing and able to respond to any call-backs (things that crack, malfunction, etc.).

If the applicant has recently deteriorated, such as declining credit scores or a poor financial statement, the underwriter may refuse to support their request.

Term

The duration of the maintenance obligation can present an underwriting issue. A one-year obligation is normal. Two years may be possible.

What about five years or ten? Probably not.

No P&P Bond

Sometimes a Maintenance Bond is requested, but there was no Performance Bond. Or, another surety may have issued the P&P bond.

If there was another surety involved in the project, it will be very difficult to gain a new underwriter’s support – the thought being “this risk belongs to another surety.”

If there was no P&P bond, the maintenance bond underwriter will require an Obligee’s Contract Status Report. This is the obligees written statement that the contract has been completed in a satisfactory manner, and related bills paid. A clean bill of health is needed to gain the underwriters support.

Conclusion

You won’t get a maintenance request on every project. But when you do, it may be very easy and cheap – but not always. Now you know why.

Steve Golia is an experienced provider of bid and performance bonds for contractors. For more than 30 years he has specialized in solving bond problems for contractors, and helping them when others failed.

The experts at Bonding Pros have the underwriting talent and market access you need. This is coupled with spectacular service and great accessibility.

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Records Management In The City – Yes Or No?

“Records management is knowing what you have, where you have it and how long you have to keep it.”

People sometime do not understand what records management is all about – they want their organization needs to be met without any hassle. To make things simpler we have this guide which pretty much should clear your misunderstandings.

IT cities top the list when it comes to setting up a business. These Fortune 500 companies have plenty of physical copies of documents. These documents eat up office space and hamper work productivity. The solution to this problem is to instill a record management system.

Records management is a service specifically designed for storing and managing documents, usually in cardboard boxes. These firms have a secure warehouse and a strong racking system so boxes can be stacked efficiently. They bar code every box so you can track it on a central database. This allows clients to get items from storage all within a few clicks. The client just needs to pick the time and date for delivery.

Here is a look at the pros and cons of Records Management

The Security

When choosing a firm that deals in record management; one needs to do the basic hygiene checks. So what does one look for? The facility should have a 24/7 security staff and CCTV system. The second point is because one is storing important documents, climate control is primary, so that the documents do not get damaged with time. Because one is not allowed inside the room, a viewing room for your boxes or documents is essential.

The Cost

It all comes down to this. The ONE and ONLY query. How big a whole will it burn into the pocket? Space is premium all over the world. Therefore, pricing will be steep for sure. However, it is cheaper to use the services of records management for document storage. Certain firms give you a price by the space you use or the number of boxes used or a combination of both. It is best to always take a little more space because you never know when storage space could increase or decrease. The firms are normally flexible in that sense.

The Environment

When storing documents, the loss of physical document damage or decay is a potential problem. Therefore, to ensure they last, paper documents should ideally be stored in cooler temperatures, without much humidity, and a proper ventilation system in place. One should also check the protection of documents against natural calamities i.e. floods, fire or any other. Finally one needs to check if the facility has a raised platform. This will help the documents from getting wet/moist and reducing the risk of damage.

Convenience

Records management is therefore designed to be a simple and convenient solution. Gone are the days when you were hassled of retrieving documents and files. Pick up the phone or go online and get the boxes delivered at the doorstep.

We hope that most of your questions have been answered. Record management irons out the creases that organisations suffer from over the years.

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Why You Should, or Shouldn’t, Volunteer at A CRO

Volunteering can be a rewarding experience. It gives people that opportunity to truly help other people. CRO’s offer volunteers some unique benefits, and offer a great deal of benefits to the companies that they work with.

What is a CRO?

A CRO, which stands for Contract Research Organization, is a company that works closely with specific organizations to conduct research. Clinical trials and drug trials are prime examples of the work of one of these. These organizations hire employees or recruit volunteers that are willing to participate in these trials, and then the process begins.

What does a person volunteer?

Volunteering at an organization is usually a very simple process. Many organizations have trials in various places throughout the country, giving thousands of people the option to participate in clinical trials. The process typically begins by visiting the company’s website, and then filling out a brief form. Some websites simply need that people interested contact them to participate.

What is it like to volunteer?

Volunteering to participate in clinical research is usually as simple as signing up to volunteer. Participants in drug trials, for instance, will simply take the medication they are given, and complete any other tasks that experts tell them to. For example, they may have to take a pill once a day, and then keep a daily log of what time they took the pill and any side effects experienced.

Are their benefits?

Volunteers report quite a few benefits to working with CRO’s. First, they claim that they truly feel like they are making a difference in other people’s lives. While volunteering on a smaller scale, such as in a soup kitchen, does have an impact, volunteering with an organization has a larger impact that can make a change in the world.

Many volunteers appreciate the free cost of medications provided. For example, an individual with HIV may receive free medication to treat symptoms if he or she participates in a trial that is testing medication for HIV. Participants that volunteer in drug trials are required to have the disorder that the medication is designed to treat, resulting in a few people receiving free medication for a few months.

Lastly, volunteers can enjoy compensation for their time. This does not apply to all organizations, and volunteers are encouraged to inquire about this prior to volunteering.

Regardless of whether volunteers receive something of monetary value, such as money or free medication, they still receive the wonderful feeling that helping other people gives.

Is it safe?

The primary concern about clinical trials is that the medications used may not be safe. Volunteers can rest assured that many medications are tested, and then tested again, before they are tested with humans. Every aspect of the medication is looked at to help make sure the safety of volunteers.

The end question that volunteers often consider is whether or not they should work with a CRO. This is a question that can only be decided by the volunteer himself. While it would benefit the company, there are other volunteers that can do the same thing. Companies never want for a volunteer to go outside of their comfort zone or do something that they will regret later in life.

To answer that final question, we encourage volunteers to ask themselves how they are feeling. If a volunteer is feeling uneasy, a clinical trial may not be the best thing for them at that time in their life. We also remind them that if they are uncomfortable but do not want to miss out, there will be other trials and volunteer opportunities for them to participate in.

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Responsibilities of a Business Development Manager

Business development encompasses a number of activities, techniques, and strategies designed to improve efficiency and increase productivity in a business organization or firm. Professionals involved in this process of development play an integral role as they help grow an economic enterprise. Some of the various techniques and methodologies used by these professionals are marketing assessments, learning about competition in the market, generating leads, follow-up sales activity, research on target markets, and evaluation of business potential.

When appointed as a business development manager, the duties and responsibilities dramatically increase. The entire load of promoting the business, improving credibility, and increasing productivity is laid on the shoulders of the manager. He or she has multi-task roles to play in such a situation. Some of the most important responsibilities of a business development manager are as follows:

• Investigate the economic conditions of the market.

• Research on the financial issues and bring out an appropriate solution.

• Learn about the latest trends and the growing competition in the market.

• Prepare a perfect business plan in accordance to the set goals and objectives.

• Maintain financial records of the company and stay within the proposed budget throughout the life of the business.

• Improve networking with other renowned businesses in the market.

• Strengthen customer base with commitment to quality issues and high customer satisfaction.

• Learn about the expansion of other companies in the same field of business.

• Motivate employees and push to work more efficiently and logically.

• Understand the needs and requirements of the business growth plan.

• Learn about the strengths and weaknesses that someway or the other impact growth potential.

• Develop innovative techniques and adopt new strategies to keep pace with the advancing business world.

• Explore new opportunities to achieve profit targets.

• Learn about new marketing tactics and implement the same for marketing specified products and services.

• Negotiate with clients and customers to enjoy higher profit margins.

• Ensure smooth functioning of all business operations within the organization.

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Defining the Role of a Business Development Manager!

Business development managers play a critical role in expansion and growth of organizations and hence there is a high demand for experienced and skilled professionals who can help the businesses in achieving greater heights.

The Growing Demand

In the present economic scenario, almost all major brands are scanning strategic locations with respect to their major expansion plans. It is indeed an action oriented role, for eager beavers who have the ability to track business leads, comprehend the products and services and develop an efficient process for ramping up the sales.

Business development skills have been a prominent requirement in job advertisements across several occupations. The typical industries where business development managers find work are insurance agencies and brokerages, commercial banking, accounting firms and many more.

The Job Functions of a Business Development Manager

Out of the array of job responsibilities, their primary job duty is to generate and follow up business leads, bring in more clients and other business proposals.

Besides, business development manager, is required to build partnerships and business relationships with other companies, vendors, and so on to add weight to the products and services. Another important duty of business development managers is to seek out new clients and keep tabs on the existing clients and their requirements.

They also work in collaboration with the product managers and marketing team in the development and implementation of the strategies, plans and business models. The job roles of these professionals may vary from company to company. Like for example, they may be required to formulate financial predictions for expansion and growth of the company.

What Do Employers Seek In Job Applicants?

Like any other job profiles, this profile too needs an array of skills-set and some specific personality traits to land in a job. In-depth industry knowledge, networking skills, marketing, sales, enthusiasm, ability to achieve sales targets, communication and presentation skills, researching and prospecting abilities, decent understanding of business models, customer orientation and multitasking skills.

Benefits and Bonuses

The complete package of benefits, generally provided in this position are listed below, take a look-

· Paid sick leave

· Relocation reimbursements

· Life insurance

· Paid vacation

· Private medical insurance

A Well Paying Job!

The salary depends on the factors like industry, company size, location, years of experience and academic credentials. As per the payscale site, the average salary package of business development manager is Rs. 5,82,211 per year. The top skills associated with such jobs are account management, sales, negotiation and business strategy.

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Would You Aim for a Business Development Manager’s Role?

The presence of an efficient business development manager is crucial to a business’ existence. It is one of the key roles of this age, that every business seeks to fill in, hiring a strategic planner, who can grow with the company. Those employed as the business development managers look after his/her team’s collective effort, looks for potential clients in the market, defines the target audience, and if needed, even redefines the company’s objectives.

These are top-level executives, who remain I contact with the management. Their ultimate goal is to create new business opportunities and ensure the company’s long- term growth. The term ‘business development’ can be described as an amalgamation of strategic planning, sales and marketing. Those holding more than 5 years of experience in sales can also be considered for this position. Besides, many leading firms consider MBAs to be hired as business development managers. Most commonly, those hailing from sales are seen heading for these career options. However, business development has a lot more than just sales, but the sales professionals are found suitable to fit in these jobs.

Job Description

Defining target audience and looking for potential clients
Preparing strategies to pitch the products to clients
Marking team’s collective efforts and keeping a checking on the lead generation
Representing the organization in the corporate events
Preparing monthly reports and analyzing the same
Providing essential data to the management
Taking essential steps for corporate associations
Identifying new sales opportunities
Working in coordination with other departments such as sales & marketing

Key elements for a business development manager’s role

For every business development manager, the following elements are of great significance.

Business Acumen

A business development manager can explore job opportunities in numerous sectors, including FMCG (Fast Moving Consume Goods), IT (Information Technology), Finance, Manufacturing, Consulting, and others. In any of these sectors, an understanding of the industry and the business is needed for the professional to possess. It will not just help him conveniently take on the role, but will also take the right decisions with an understanding of the business.

Management & Research

He plans as well as manages to take the business the next level. A professional serving as business development manager has to lead the team and direct it to the right path. For this, leadership and management are of great essence. Besides, research too is a major element for these professionals. They need to research well about the market, the prevailing trends, the customer’s requirements, and so on.

Strategic Planning

The business development managers are also involved in planning the campaigns to target the potential clients. They may even look for marketing and sales related data for the same.

Customer Service

Another major element remains the customer service. They need to ensure whether the customer their team is dealing with, is entirely satisfied with the services. They also need to constantly check on a crucial deal that has not been closed.

The Other Essential Details

In the recent years, the need to hire these professionals has been realized by most of the brands. They can explore the job offers from varied sectors as per their preferences and knowledge. However, some of the leading organizations they can aim to work with include Infosys, Deloitte, KPMG, Ernst & Young, Wipro Technologies, Cognizant, and many others. Further, these professionals can expect to earn Rs 578,392 per year in India.

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A Glimpse Over a Business Development Manager’s Job

Every businessman starts his business with an aim to grow in terms of annual sales. However, starting up a business seems easier, but making it a big one is not everyone’s cup of tea. It needs great efforts and hard work to get your business on the heights of success. According to a research, it has been observed that only one-tenth of 1 percent of companies will ever reach $250 million in annual revenue.

In order to develop a business, you need to make a growth strategy that must cover market perception, market growth, product development, alternative channels, new products, etc. Here, comes the need for a business development manager. He is the most important part of an organization, who needs to work with the marketing people, internal team and other seniors to develop the strategies for enhancing the sales opportunities, thus, increasing the profits. Let’s have a glance over the job of a business development manager:

Role of a business development manager

Well, the role of the concerned person can be categorized as follows:

• Outlook for new clients: It is perhaps the primary role of a business development manager to search for new clients. This can be done through various ways including cold calling, networking, advertising and more.

• Planning influential approaches: The next important thing is planning a proper influential approach that can encourage the prospective clients to do business with the company.

• Developing a bond: Developing a good relationship with new customers is really necessary if you want to develop your business. This can be done by setting targets and proving the required support to the customers for improving the bond.

• Grow and retain existing accounts: Developing a good relationship with new customers is not just enough. What more require is growing and maintaining the existing accounts. In order to retain the current customers the manager should be ready with new solutions and services that he/she can present to the customers as and when required.

Above are some of the primary roles of a business development manager. Apart from this, he/she is responsible for making a strategic planning for developing a new business coming in to the company. For this, the person must possess a sound knowledge of the current market condition, services that company can provide and most importantly who are the company’s rivals.

Qualifications and skills required for the business development manager

• Educational qualification: As the job of a business development manager is quite challenging, he needs to have certain skills that can assist him in facing all the hurdles. As per the reports of online job placements on Monster.com and PayScale.com, the educational qualification required for Business Development Manager Jobs is first of all a bachelor’s degree in business administration or any other related field. Having a good experience in sales or marketing will be added advantage. Though, some companies may prefer the candidates who hold a master’s degree in this field.

• Key skills: As far as skills are concerned, the person should be highly motivated, problem solver and must have prospecting skills, territory management, market knowledge, presentation skills, closing skills, professionalism, etc.

Significant result areas of business development manager

To achieve the desired results, it is very essential to be crystal clear about everything so that the concerned person will be able to focus on the results. Generally, the key result area should be:

• Clear, precise and measurable: A clear, precise and measurable key area will help in defining the exact results that have been achieved and how well they are achieved.

• Under the control of business development manager: The key result area should be under the control of the concerned person. When he/she does it in a right way, it will contribute towards a major value to a business and to the career of the responsible person.

• A vital activity of the business: A key result area is unquestionably the important output that will turn out to be an input to the next result area.

All the above information will surely help you to get an idea about the job of a business development manager.

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