The toughest thing about success is that you've got to keep on being a success."
--Irving Berlin,
American composer
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| CVSN SmartBrief |
| May 20, 2008 |
Report outlines economic situation, projections for W-Ds
According to the 2008 Wholesale Distribution Economic Reports, residential sales and construction will not likely rebound until mid-2009 at the earliest, while select manufacturing sub-sectors will enjoy strong growth throughout the current year. This article from Pembroke Consulting President and NAW Institute for Distribution Excellence Fellow Adam J. Fein Ph.D. discusses some aspects and results of the report. Modern Distribution Management (5/20)
Smaller distributors seek partners, buyouts to survive
Uncertain times are forcing small to mid-size companies to seek out buyers or strategic partners that will give them the business they need to survive. McQueary Brothers Drug Co., a Midwestern regional wholesaler, recently sold itself to McKesson Corp. to ride out upheaval in the pharmaceutical industry. "McQueary was one of the last guys standing in terms of regional wholesalers in this particular industry," said Pembroke Consulting President Adam Fein. Meanwhile Banta Foods, a food-service distributor, was forced by high fuel costs to align itself with Reinhart Foodservice LLC. Springfield (Mo.) Business Journal (5/12)
Steelmakers foresee threat from escalating prices
Steelmakers are taking steps to offset repercussions of unrelenting increases in the price of steel as construction grows globally. Steel prices have increased 40% to 50% since December and experts say they have not yet peaked. Eventually, steelmakers worry price will affect demand and lead to the purchase of more alternatives to steel. So they are beginning now to reduce their costs, acquire resources, consolidate and experiment with ways to make their products less expensive. The Wall Street Journal (subscription required) (5/15)
Leave out wimpy words for a powerful presentation
Nothing can kill a presentation quite like wasted words or phrases such as "so," "um," and "you know." A list of words sales teams should try to avoid includes spurious spacers such as "like" or "really," and wimpy words, such as "as you can see," or "hopefully," "possibly" or "maybe." Manage Smarter (5/14)
Make relationship marketing an exercise in enjoyment
When building relationships in sales, enjoying the process is essential. Steps for exploring and enjoying the process of building relationship marketing include embracing the sales process with a positive enthusiasm and expectations and staying inquisitive. American City Business Journals (5/12)
Tips for successful field sales reps
Professional field sales representatives need to follow important steps to flourish. Tips include allocating personal time to optimize performance; gathering information from customers and suppliers; gathering information on threats and opportunities; and planning solutions for customers. CEO Strategist (5/11)
Key questions can determine whether applicant has the right social stuff
Employers all too often get so caught up in making sure a job applicant has all the right skills for a job that they overlook one critical skill -- the ability to get along with others. A few key questions in making sure to hire someone who will boost a company's culture are asking what they do for fun away from work; asking them to describe their most satisfying job experience; or what attributes they think the ideal leader would have. Manage Smarter (5/12)
Pick single behavioral goal, and consider the benefits for improvement
Rather than focusing on multiple goals, executives should choose one behavior pattern and focus on that for personal improvement. A useful exercise is to say the sentence "When I get better at ... ," and then complete it with a benefit that will make the change worthwhile. BusinessWeek (5/6)
Advice: Finding insurance that fits
Types of insurance needed for a company vary depending on the kind of business it does. Homeowner's insurance may suffice for a home-based business, but rented office or retail space needs liability insurance, while accountants need errors and omissions insurance. Continuation insurance is an option for any business whose livelihood could be affected by disaster. CNNmoney.com/Fortune Small Business (5/8)
AFTERMARKET2020: Is your business model ready for the future?
Go to www.aftermarket2020.com for information about the CVSN 2008 Annual Meeting, at the Omni Interlocken Resort, from Sept. 21 to 24.
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