A key to good hiring people is let them know how they may be discharged if they did not work out. Ramsey makes a great point about those who may have a great personality, but they are not suited for the position. Further, he says, “Regardless of the reason for the release, treat people right and with kindness. You are in control and you still have a job; they have neither so be kind.” I enjoyed reading his thoughts regarding the “reprimand sandwich,” which occurs when you share with them the value they brought to the company, followed by the reason why they did not work out (be very sensitive), and ending with a positive statement. Ramsey suggests that you keep the dismissal private, concise and to the point, and ensure that the employee understands what the problems were to cause being fired.
Ramsey goes into selling, which is a big part of your business. Everyone needs to know how to sell otherwise nothing happens without adequate sales. Selling is a part of the human interaction. For example, teachers persuade their students to learn, parents are selling when they tell their daughters whom they should date or not date and, in business, everyone makes money through selling. SVStartupMarketing.com strongly believes in the philosophy of creating a wonderful experience for our customers, which inspires them to remain customers and send more referrals at the same time.
There are four vital steps every sale’s person should take. They include (1) qualifying the buyer, (2) building a rapport (gives the buyer a chance to trust you), (3) educating them and giving out information, and, (4) closing the deal. We totally trust and rely on this method because when it comes to selling, our clients need to start with qualified buyers who are interested in their products. Many people fail at the first step because they are not able to identify the proper target audience. For example, do not try to sell auto parts to someone who has no interest in cars or automobiles. If female customers really enjoy shopping, make sure you can offer retail products such as purses, hats, sunglasses that would be of interest to them.
Many other people do not know how to budget their money when creating a business and Ramsey goes over the method of handling accounting, dealing with debt, creating a financial plan for your business, and saving money. SVStartupMarketing.com also agrees with this philosophy that states “some of the greatest joys of becoming successful are associated with acts of generosity to your team, your customers, and your community.” Take care of your needs first, but never miss an opportunity to give back as well.
Now, when it comes to leading and giving direction, he recommends building unity as a vital integer to building genuine camaraderie among your team members. Lack of communication and shared purpose, gossip, unresolved disagreements, and incompetence are unacceptable. Recognize employees that have contributed to the company and so they know that they have value. Be selective in the process, but make sure your employees know that their performance is critical to the success of the company.
The last thought we have to share with you concerns the components that will make your employees and your business successful according to Ramsey:
1. Contracts: “Have reality-based expectations” and “they are only as good as the people you are dealing with.”
2. Collections: “The time to solve a collections problem is long before you have one, as you are selling the customer.”
3. Vendors: Vendors much have integrity, capacity, price ethics, and quality.
Overall, we recommend this book to anyone who is interested in starting a business venture, but is looking for tips on how to build that initial foundation. Good luck and comment below with any questions or ideas!