The Candle Problem: Rethinking the Way we do Business

What truly motivates your employees? How do you, as a business owner, foster a more efficient workplace to ultimately drive sales and increase profits? Well, traditional business practices would lead one to believe that extrinsic motivators, like monetary rewards, are the best way to motivate your employees. However, recent studies show that there may be a mismatch between how businesses “motivate” salespeople and what science knows to be effective.

This is the subject of speaker Daniel Pink’s speech, “The Surprising Science of Motivation.”

The Candle Problem: Participants are tasked to attach a candle to a wall in such a way so wax will not drip on the table below. To do this, the participant may use a book of matches and a box of thumbtacks.

Some participants try to use the tacks to fix the candle to the wall. It doesn’t work. Other try to melt part of the candle and stick it to the wall. That doesn’t work either.

The Solution: Empty the box of thumbtacks, put the candle into the box, use the thumbtacks to nail the box to the wall, and stick the candle in the box.

The message of the candle problem is simple and can easily be applied to the business community, especially motivation. We must stop looking at what we think we see…what we think we know about motivation and start looking for more creative and effective ways to encourage salespeople and ultimately bolster sales.

The fact is that traditional, extrinsic rewards aren’t always as effective as we think.

“I can’t tell you how many leaders I speak with that think their sales people are motivated by money, but most aren’t,” said Springboard CEO Karin Schwartz. “It’s rarely about money.”

In fact, according to Dr. Bernd Irlenbusch of the London School of Economics, “financial incentives…can result in a negative impact on overall performance.” Instead, Daniel Pink encourages the use of intrinsic business motivation, which work because of three key factors:

  • Autonomy: The urge to direct our own lives
  • Mastery: The desire to get better and better and something that matters
  • Purpose: The yearning to do what we do in the service of something larger than ourselves

“It’s not uncommon to see sales people motivated by cultivating long term relationships, helping others, finding the missing puzzle piece, receiving the accolades/appreciation, etc.,” said Karin. “The faster a business owner realizes how their people are motivated the faster they can develop a culture that thrives.”

If you have any questions about Business Development, please contact Springboard Business Development by calling 410-832-7560 or click here today!

Located in Baltimore, Maryland, Springboard offers outsourced sales solutions for businesses in the professional services arena. Our approach to business development makes it easy to find new clients without the financial burden of an in-house business developer.

At Springboard we know sales!

Follow us on FacebookTwitterGoogle+, and LinkedIn as well!

Leadership Development Tips for 2012

What is your New Year’s Resolution? Maybe you want to lose weight, travel more, or stop smoking. Or maybe you want to become a more efficient leader. After all, business development begins with you, the business owner. To grow as a business you must first grow as a leader.

There are lots of things you can do to better yourself as a business leader, but we don’t have enough time to explain them all so we have outlined our top suggestions.

Don’t Neglect the Present to Plan for the Future: Yes, the ultimate goal is to grow your business. But you cannot be so focused on future growth that you neglect the here and now. If you re-direct your focus on current business transactions and work to perfect what your business already does well, the rest will fall into place.

Listening: Listen to what your employees and clients are saying. After all, happy clients provide referrals, which brings in more business and makes you more money. This will make you a happy business owner. And happy employees will work harder and more efficiently, which brings in more business and makes you more money. This will also make you a happy business owner.

So stop talking at people and start listening to what they have to say.

Unlearning: Forget what you think you know about business…it is ever evolving. So stop relying on outdated methods and ineffective techniques. If you want your business to grow and prosper, you must first be willing to change your way of thinking. Just because something worked in the past does not mean it will continue working. Always be on the lookout for new sales techniques and more effective business practices.

Focus on What You do Best & Outsource the Rest: As a business owner, you are pulled in several different directions at once. You are forced to divide your attention between marketing, sales, business growth, customer service, and much more. And there is simply not enough time in the day to give each area of your business the time it deserves. As a result, your business suffers.

You cannot afford to do anything halfheartedly in the corporate world. So what is the solution? What is the best use of your time? Well, unfortunately there is no one answer. Every sector of your business is equally as important as the next.

However, one of the best ways to lessen your business burden is to outsource your sales to a professional business development firm, like Springboard!

Springboard offers outsourced sales solutions for businesses in the professional services arena. It’s simple, while you focus on delivery, we bring our sales expertise and connections to focus on your business development challenges.

If you have any questions, contact Springboard Business Development by calling 410-832-7560 or click here today!

Our approach to business development makes it easy to find new clients without the concerns of sales team turn-over, lack of sales expertise and payroll.

Follow us on Facebook and Twitter as well!

Sources:

5 Leadership Tips for 2012

Highest and Best Use of Your Time

As a business owner, you are pulled in several different directions at once. You are forced to divide your attention between marketing, sales, business growth, customer service, and much more. And there is simply not enough time in the day to give each area of your business the time it deserves. As a result, your business suffers.

You cannot afford to do anything halfheartedly in the corporate world. So what is the solution? What is the best use of your time? Well, unfortunately there is no one answer. Every sector of your business is equally as important as the next.

However, one of the best ways to lessen your business burden is to outsource your sales to a professional business development firm. This cost-effective solution will allow you to re-focus your attention to other pressing matters and will also allow you to better grow your business.

  1. Outsourcing costs less than hiring an in-house sales team: Outsourcing provides you with the rare opportunity to cut spending while also increasing profit.
  2. Increase sales: Not only are outsourced sales forces trained to do nothing but sell, sell, sell, but most outsourcing services operate 24 hours a day, 7 days a week, 365 days a year. So even when your company is closed for the day, the weekend, or a holiday, your business will still be reachable.
  3. Focus on core business activities: Without having to worry about every little detail of your business, you are free to focus on your core business activities.

So stop spreading yourself thin and start running your business smarter and more efficiently by outsourcing your sales to a professional sales outsourcing firm, like Springboard Business Development.

If you have any questions, contact Springboard Business Development by calling 410-832-7560 or click here today!

Located in Baltimore, Maryland, Springboard offers outsourced sales solutions for businesses in the professional services arena. It’s simple, while you focus on delivery, we bring our sales expertise and connections to focus on your business development challenges.

Our approach to business development makes it easy to find new clients without the concerns of sales team turn-over, lack of sales expertise and payroll.

Follow us on Facebook and Twitter as well!