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The purpose of this series will be to continue to give you constant doses of reality. Assuming for the moment you are still determined, let’s review some of the basic decisions you will have to make. I cannot emphasize enough — you must be totally honest in your thinking and... Continue Reading
The next consideration to evaluate is your present age. I know there are times you think age is a barrier, but in our business it certainly is not, to a point. I confess to a personal philosophy, however, that an individual is not ready to become a sales captain of industry until he or she is... Continue Reading
Over the course of several recent interviews with MANA members, a number of challenges have been identified that nascent reps have to be aware of. In addition to increasing their awareness, however, it’s incumbent upon these reps to possess the wherewithal to overcome these challenges if... Continue Reading
A business plan is many things. It’s a map, it’s a compass, it’s guidelines, and you might even think of it as your own personal business philosophy. It’s critical for your own use, and if you have others involved with your business it will be important for them. But,... Continue Reading
Editor’s Note: What follows is some sound advice from a highly successful manufacturers’ agent in the southern United States. Frequent Agency Sales Magazine contributor B. Dean Baum wrote this letter to the editor, which appeared in the June 2001 issue of Agency Sales. Baum’s... Continue Reading
Let me state here and now that if you are not a disciplined person — and by that I mean in both your work and financial habits — you should stop now and consider some other career direction. If you have financial discipline — I’m not talking about resources, I’m... Continue Reading
by Robert Blanding, N.E. “Mac” MacGregor and Brad Starr, CPMR Cost Factor: Principals Your contract with a given principal will have a great bearing on your initial cash flow. If the contract calls for a termination (longevity) clause (more and more are), then as a new... Continue Reading
by Robert Blanding, N.E. “Mac” MacGregor and Brad Starr, CPMR Cost Factor: GeographyGeographical variances to be considered include facilities and services, travel costs and time. The costs of many items vary from state to to state and city to city. Even within a given territory,... Continue Reading
by Robert Blanding, N.E. “Mac” MacGregor and Brad Starr, CPMR Some Advice and Recommendations The best advice is to run lean and mean! Minimize expenses, but don’t run so leanly that you fail to appear (and be) professional. To survive, you must watch your expenses and keep... Continue Reading
The close of this article would be an excellent time to close your browser and begin to formally analyze your financial strength. You must list all monetary obligations, including all short- and long-term liabilities, either on your books or anticipated, plus all assets you have. Here again... Continue Reading
Successful navigation of the learning curve coupled with strategic planning are the bywords most commonly cited by independent manufacturers’ representatives as they describe how and why they’ve done what they’ve done to get started. For starters, we visited with Jeff... Continue Reading
Satisfying a Financial Need Michael Sackett started his agency last year after several years in outside sales for a distributorship. His agency, Aero Manufacturers Corp., Yorktown Heights, New York, serves the aerospace industry, a market he worked in for 16 years. “My major interest in... Continue Reading
