Business-to-business (B2B) selling involves selling a product or service to another business. B2B selling often requires a lengthier sales process and a distinct set of consultative sales skills for reps engaged in this type of role. We’ll explain what B2B sales is in greater depth, provide common examples of B2B businesses, and explain some of…
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What Is the LIFO Method? Last-in, First-out Explained
The last-in, first-out (LIFO) method is one of the three inventory cost flow assumptions, alongside the FIFO (first-in, first-out) and average cost methods. The LIFO method is popular in the United States because it’s allowed for tax purposes, and proponents argue that it’s an appropriate method of costing inventory because it most closely matches the…
What Is Financial Ratio Analysis? A Small Business Guide
Financial ratios depict relationships between accounts and line items in your financial statements, such as assets compared to liabilities or total debt compared to owners’ equity. Financial ratio analysis is the process of examining those relationships for insights into your business’ liquidity, profitability, efficiency, and solvency and how it’s doing against industry standards and benchmarks….
Sales Operations: The Complete Guide
Standardized and established sales operations create a repeatable flow of leads through the pipeline. Without properly managing this business component, sales activities become disorganized and opportunities slip through the cracks, diminishing your ability to grow revenue. In this article, we explore what sales operations are, how they should be structured, and the types of software…
What Is Sales Enablement? Definition & How To Implement It
Sales enablement helps empower sales teams with the right tools, knowledge, and processes to engage with leads and customers effectively. This keeps their sales pipeline full, improves efficiency, closes more deals, and ultimately increases revenue. In this article, we define what is sales enablement, explore how to use the sales enablement process, and provide examples…
The Ultimate Guide to Sales Leadership
Sales leadership involves making relevant strategic decisions that fit the vision and mission of your organization as well as motivating and inspiring your sales teams. Excellent sales leaders are essential because they set the tone for a company’s culture and overall business success. In this article, we explore the qualities of a sales leader, how…
What Is Lead Qualification & How to Identify the Best Leads
Lead qualification helps you prioritize sales activities toward leads that are most likely to generate revenue. It’s done by establishing qualification criteria for scoring leads, then distributing top prospects accordingly. This creates a more efficient sales operation and increases lead-to-customer conversions. We will define what lead qualification is in more depth, explain how to qualify…
What Is Cross-selling? Definition & Tips to Make It More Effective
Cross-selling is a sales tactic used to obtain more value from a deal or sales transaction. While commonly used for retail businesses, it can be applied to many industries in both the B2C and B2B markets. In this article, we explore cross-selling more in-depth and provide examples, tips, and script templates you can use to…