"Today's the day!"
Greetings!
Today is the day to consider ways to partner in our global economy. I was fascinated by the huge success of Karen Lauderback, our guest speaker on Global Aggregation. Not only has she built a multi-million dollar business in a few short years, but she's managed to create a new business model - no doubt to be as successful as the first.
Even if you can't join the call live, be sure to sign up so'll get a link to the recording. The call starts today, at 5:00 p.m. EST

Virtually yours,  |
Selling in an Economic Downturn
"When the going gets tough the tough get going." - Anonymous
We are entering a period of enormous change and uncertainty. We are
witnessing the emergence of a new world order and a new business era.
The Financial Crisis will impact the global economy, but where, when
and by how much we don't yet know. One thing is for sure. The "New
World" will be less tolerant and less forgiving of much of our current
"Old World" sales practices. In a downturn, customers will reassess
their activities, expenditures, suppliers and business relationships to
see where they can make savings, streamline their business and find new
levels of operational efficiency to drive down costs. This presents the
New Era Sales Professional with an unparalleled opportunity to take the
lead by helping guide their customers through this reassessment process.
A
simple and effective way to move your thinking to a NESP (New Era Sales
Professional) is to ask yourself the following questions:
- What will help my customer's business in the new world economy?
- How
can I leverage my understanding of my customer's business, my knowledge
of their industry and my products/services to do this?
A Five Point Plan to protect your existing business and maximize your sales in an economic downturn:
1. Keep cool.
Stay positive, confident and motivated. We are entering a radically new
business environment. Things are going to be difficult (maybe),
different (definitely). Your ability to maintain your energy,
enthusiasm and conviction are vital. A positive mindset determines your
ability to achieve and to succeed by overcoming obstacles, barriers and
constraints that are going to appear to surround you. The first victory
is over one's self.
2. Keep close to your customers. Look
for new and innovative ways to make your customers more competitive by
demonstrating how you can save them money. Gain a deeper understanding
of what is truly important and of value to your customers - and know
why. Visit your customers more often. Get to meet and know more people
in the customer's organization. Set a goal to meet 2 new contacts on
each visit you make. Call high and wide. Know your customers better
than anyone else.
3. Keep focused on customer value. To
succeed in the New World of business stay focused on 2 critical things:
1. the customer and 2. the customer's unending pursuit of performance
improvement. In the New World business value will captured in 3 areas:
i) achieving lower costs, ii) gaining high levels of productivity from
smaller organizations, and iii) striving to create sustainable
competitive advantage. Look for new and innovative ways to better serve
your customers. Innovate and re-validate your current product/service
value proposition. Actively seek ways to add value to your customers
above and beyond your current product and service offerings.
4. Keep prospecting.
Selectively target new clients. Prospecting has and always will be the
base metric of success in sales. In the New World the focus shifts from
prospecting to prospecting effectiveness. Quantity (Old World) yields
to quality (New World). New Era prospecting means being ruthless in
deciding how and where to invest your time and effort to develop new
business opportunities. That means deciding which prospects and which
prospecting activities you are going to stop so that you can
concentrate on New Era Prospecting.
5. Keep growing.
Invest in yourself. Develop your New Era Sales Skills and your personal
value proposition. It may seem counter-intuitive, but when it gets
harder and harder to fell big trees it is time to stop and sharpen the
saw. Sharpening your sales skills means setting aside time to develop
your skills through reading, listening to podcasts, attending seminars
and conferences, participating in training programs and joining expert
groups. In the New World you are responsible for your own self
development.
By finding ways to deliver new levels of business
value to your customers, above and beyond what they are used to today,
you will stand out from the crowd especially during an economic
downturn.
David
R Ednie is President and CEO of SalesChannel Europe SARL. He is
acknowledged as an expert in Sales Performance Motivation,
International Sales and Sales Channels and Business Execution. David
has over 20 years international business experience working in
culturally diverse markets in Europe, the Middle East, Africa and the
Emerging Markets of Central and Eastern Europe. Clients include:
Bombardier Transportation Servives, EDF, GMAC Financial Services,
OpusCapita, Alexander Hughes, Dow Jones, Orange Business Services,
Microsoft EMEA, Tiscali Int'l Network, GL Trade and Infor (Datastream)
Article Source: http://EzineArticles.com/?expert=David_Ednie
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Bartering - Is it a smart alternative in a troubled
economy? What about the year-end taxes?
Part III
A Case study:
Interview
with Jennifer Dillon, Owner | Collaborative Connections | www.ccvirtually.com
Initially, Jennifer said that she thought
bartering was great. "I'm always open to bartering as long as the terms and
conditions of the exchange are well defined and agreed upon both both/all
parties. I have not used a barter or exchange service and have only bartered
with existing clients and/or friends. I have not experienced any downside to
bartering."
So I probed further and here's what came of
the discussion:
*What specific
benefits came out of your agreements?
It's hard to say what "specific benefits" came
out of bartering other than: saving money, working/collaborating with a
friend or colleague, good will. Stuff like that. For something
tangible, I bartered with a client of a client, help with website content in
exchange for plants and shrubs! My husband likes to garden and this
business needed only a 1-time help. I had the time, so, why not? It
took very little time on my part, and I got a lot of things for my husband to
plant and enjoy.
*Was there a reason
why you chose to do it with existing clients?
For me, I've bartered with existing clients (not new
ones), when I've had a need for their professional services. In other
words, I've asked for a client's services. Sometimes they've suggested
bartering, sometimes I have.
*How did you go about
doing it with your existing clients? Was it in writing, or they couldn't afford
to pay?
Again, see answer
above. I generally don't barter my services as a starting point with
clients. Yes, I put together a loosely worded "contract,"
usually in the form of an email or letter, that states what we've agreed
to. Just to keep things clear.
* How did you
reconcile your year end accounting?
How my accountant actually plugs it
all in to the return, I don't know...For bigger value barters, I always let the
other party know I'm claiming the barter...
If you're considering bartering as a viable option be
sure to have a written agreement which clearly outlines your services and the
value of what you are offering and what should be claimed, and get a receipt or
have an agreement for your records if you're the recipient.
Not sure you want to do the math, then you
might enjoy an established bartering system or network (according to the IRS
this would be a "barter exchange"). To
find out how it works checked out a model site (UK based) http://bizunlimited.com. A Canadian/US system may soon be on it's way
according to one source. If you are
interested, please email barter@gahms2.comwith "Bartering in
North America" in the subject line, and you'll be notified as soon as it's
released.
So, is bartering for you? Have
you determined the value of your services?
Do you have bartering agreements in your arsenal of business
documentation? Are you ready to issue
1099B's or ensure that you get one for your taxes?
Hopefully, you've been given enough information to get you started. Below are some additional resources that will
help you should you decide that exchanging chickens for ducks is the way you
want to go.
RESOURCES:
IRS - Bartering Income | http://tinyurl.com/barteringincome
Tax Responsibilities of Bartering Participants |
http://tinyurl.com/Taxresponsibilities
Barter Exchanges | http://tinyurl.com/Barterexchanges
Barter - 1099 B Form | http://www.irs.gov/pub/irs-pdf/f1099b.pdf
Tax Requirements for Barter Exchanges |
http://tinyurl.com/Taxrequirements
Backup Withholding "B" Processes |
http://tinyurl.com/Backupwithholding1099B
FAQ - Backup Withholding | http://tinyurl.com/FAQBackupwithholding
ARTICLES:
How Bartering Works | http://money.howstuffworks.com/bartering.htm
Barter Tax and Accounting Issues | http://tinyurl.com/bartertaxaccountingissues
Bartering - Working Mothers | http://tinyurl.com/barteringworkingmothers
Barter and Triangular Trade revisited | http://tinyurl.com/triangulartrade
BARTERING SYSTEMS:
http://www.bizunlimited.com
DISCUSSION:
LinkedIn Group: http://tinyurl.com/barterdiscussion
NOTE: Join Phillip Dyer, CPA, RLP, Chief
Financial Educator of Dyer Financial Advisory for a FREE call on "Bartering and Tax Planning Essentials for the
Virtual Professional". Email info@virtualpartner.bizwith "FA for VAs" in the subject line for more details!
AUTHOR BOX
Tiffany Odutoye, Chief Visionary Officer - Virtual Partner,
LLC (http://www.virtualpartner.biz) and
Staff Writer for the IVAACast newsletter. |
| In the next issue
- In Like a Lamb, Out Like a Lion!
- Give 'em the Pickle
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EVENTS The Smart-Savvy Entrepreneur's Expert Call
WHAT:
"Global Aggregation"
WHEN: March 26, 2009
5:00 PM EST 4:00 PM CST 3:00 PM MT 2:00 PM PST
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 Announcing: Social Media Workshops!
WHAT:
"LIVE Social Media Workshop"
Go 0-to-60 Done in a Day. This workshop is ideal for the business owner new to social media. Want to learn, implement and hear from a local expert, all in one day? Then be sure to register for this class.
Each hands-on workshop will be divided into a morning session, power lunch (with an expert) and an afternoon session. You may attend one, or all three. Discounted pricing will apply to early bird sign-up and for attending the full-day's activities.
WHO:
Tiffany Odutoye and featured guests / expert in each city
WHEN: East Coast Midwest West Coast
- San Diego, CA - July 14th
Registration will open March 31. Stay tuned for additional information.
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Announcing:
Facebook
Coaching!
WHAT:
Receive 1 on 1 coaching while you
develop your Facebook presence.
-Strategy
-Action Planning
-Implementation
Only one slot is available each week.
COACH W/:
Tiffany Odutoye, Social Media Specialist
WHEN:
Every
Tuesday from 4:00-5:30pm EST.
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The Business Networking Opportunities in Central Ohio
Click on each logo for more information.
The Boss at CSCC April 23

April 3-5: Startup Weekend Columbus II at TechColumbus

April 18: PaRtners Conference: PR 2.0 at Capital University

May 16: WordCamp Columbus at CSCC

June 10: Ohio Growth Summit

June 20: PodCamp Ohio at OSU

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TESTIMONIAL: " Working with Tiffany has been
incredible. She has helped me to organize my business, my marketing and
my client care systems. She is on top of all parts of my business.
It is like having my own executive administrative assistant right here in the
office with me. She has systems in her business that make our working
virtually seamless. She is just a call away and one internet
browser! We are in touch through the workday on different projects.
She continues to help me look at how my business operations are going and how
to improve and streamline my company, so that I am working less and making
more! I love it!!"
Donna L. Price, M.S., M.S.
The Business Success CoachCompass Rose Consulting, LLC
973-948-7673
931 Maple Ave
Newton, NJ 07860
ww.compassroseconsulting.com
www.donnapricespeaks.com
www.bizology.biz
(a special business building program for small businesses)
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I appreciate:
Angela An from Channel, Anchor/Reporter, 10 TV News. She did a feature news item on my business in February, and this week I had the Columbus Dispatch in my office taking photos for a news article that runs in Friday's business edition. I am so grateful for the media exposure to the Virtual Assistance industry, and my business.
Action: Is there an area of your business holding you back? Let go of your fear, step out on a limb and you will attract great things. |
Tweet with me; Connect with me; Friend me.
 

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