Category: Growth

June/July 2019 – Letters from Lisa

This past month was our 6th annual dealer retreat. This event brings together our top volume dealers to challenge all of us on how we can be the best versions of ourselves in our day to day business. This year’s theme was Decode the Mystery of Growth.

Mystery is defined as something that is difficult or impossible to understand.

This recent article in Feedstuffs is a mystery to me. How can I include chocolate as 30% of my diet without affecting my carcass composition?  Seems if I just include it at .000003 percent it significantly impacts my carcass. Now that is a mystery.

The “love of gain” is human nature. So, a desire or even a need for growth is not mysterious. It’s how to create it that’s mysterious.

We must work every day to solve that mystery using a variety of ways including:

  1. Investing in human capital
  2. Committing to learning
  3. Standing out
  4. Setting bold goals
  5. Making big changes

The common point to all of these is ACTION – Nike says Just Do It.  If “just do it” was enough, we’d have already just done it by now.  So, if all we need to do is “just do it,” why do we go through one year after the other without “just doing” the things we know we need to do to grow?

Because successful growth isn’t about just doing, it’s about:

  • Identifying the need for change
  • Creating that change
  • Preparing for the challenges that will present themselves along the way of change
  • Grabbing a hold of an “all in” belief so you don’t just give up

If you skip any of those steps, whatever you “just do,” won’t be sustained long enough, repeated often enough, or executed well enough to create the action needed to grow.

Once you know what actions you need to take each day; you’ll find that “just do it” is the effective warning it was intended to be.

Why Growth Depends on Todays Actions

Dictionary.com defines “take action” as “start doing something.” For your business to succeed today, tomorrow and in the future, you must take action now. That seems pretty simple; however, as a business owner, manager and employee, you need to take initiative and know which action to take.

According to the best-selling author and Inc.com columnist Jeff Haden, “motivation comes from taking action and finding success, not the other way around. So, if you need motivation, then you are not doing it right.”

In business there are so many actions that can be taken, it is often hard to prioritize which step to take first. The key is to be sure to take a step and keep the action moving forward. An Inc.com article¹ outlines three truths to help you prioritize your action steps and keep growing your business.

1. Connect Team Objectives to the Organizational Mission. Your key objectives are the foundation for taking proper action. Make sure they are aligned with your company mission. This helps everyone get on the same page. If the alignment between objectives (goals) and mission is off, nothing will make sense. The more clearly linked the team’s goals are to the group’s mission, the more likely the proper actions will take place.

Every business, regardless of size, needs to have a mission. At BioZyme®, a summary of our mission is to create and produce the highest-quality animal care products that will in turn help our customers achieve greater profit. We don’t accomplish that mission by standing still, but by establishing regular goals that are in-line with our mission. For some teams, those goals might be established and measured monthly, others quarterly and some annually. Whatever your mission is, make sure it is clearly written so every employee has access to it. That way they know if their goals for action are connected.

2. Weed out Non-essential Actions. Although taking action is critical to growth, moving backward does not grow a business. Sometimes we try to do too much, and those actions are not essential to growth. As the article on Inc.com states, “Weeding out mediocre opportunities allows you to spend time with the winners.”

3. Create Authentic Relationships that will Drive you to Take Better Actions. Action in business is about different parties making connections. In today’s world it is easier to make those connections if you are authentic – being your true self – instead of being the person you think somebody else wants you to be. Remember, “taking action is so much easier when everything you do is natural, is real, and is in congruence with who you are. Deciding on the correct action is not hard when you know who you are and do not try to hide it.”

With proper action comes growth. Set your objectives to make sure they align with your mission. Don’t waste time on non-essential actions or people. And, be true to your true self, and the actions will flow much easier.

 

¹ – Article Source: https://www.inc.com/mareo-mccracken/dont-wait-for-motivation-why-your-companys-growth-depends-on-todays-action.html?cid=search

 

6 Steps to Hosting an Effective Producer Meeting

Producer meetings are a great way to share your business story, bring together people of common interests, renew enthusiasm in loyal customers and gain new customers all in one setting. However, effective producer meetings don’t just happen with a phone call or text to your Area Sales Manager (ASM); they require some advanced planning in order to become more than just another social event.

“It’s evolved. The first time I had one as a new dealer, I didn’t even have product on hand and the next day I sold a semi-load of product. Now after some meetings I sell up to eight semi-loads or more within a couple weeks after the meeting,” said Keith Micke, Triangle K Feed at Glendo, Wyo.

Micke hosts two large producer meetings each year, spreading them out over his sales territory. He shared some of his what he’s learned over the years that helps make his meetings successful.

1. Schedule in Advance. It is a good idea to get dates on a calendar as early as you can. That way you can start working with your ASM and the marketing team to get invitations designed and mailed, reserve space at a restaurant or other venue of your choice, and make sure the BioZyme® staff you want to speak are available on your dates.

2. Plan your Invitation List. Micke said he likes to invite a mix of both his regular customers and potential customers to the meetings. He will ask his long-time customers to share their success stories during the meeting, and it is always good to have a well-respected, prominent rancher in attendance, because he said often a new customer will try the products because he or she wants to be like the neighbor.

“That’s really solid. They are getting the information from someone besides a salesman, how the products work and what it’s done for them,” Micke said.

Micke said he will send around 80 invitations each fall for his two meetings, where he usually has around 30-35 people at each one. And since ranching is a family business, he also includes the wives and children, as he knows many young families don’t always have access to a sitter.

3. Focus on a Topic. Although there are a lot of subjects a dealer could cover, Micke said he typically picks one topic to cover at each meeting, and then follows the topic by explaining all the products and highlighting any new products or changes. Narrowed down topic subjects might include how Amaferm works or the importance of protein.

4. Educate with Fresh Faces. Micke likes to include outside experts at each meeting.

“I get a lot of benefit having my sales manager and a nutritionist there. Then they can learn about the research, and the ranchers know there’s more than just a dealer out there. They bring in a fresh face, a different look,” he said.

5. Be Flexible. Micke said he is always up for trying new things. He originally had two fall meetings and two spring meetings each year. Then he discovered that the ranchers were busy calving in the spring, so he quit having those. He has had some smaller dinner meetings with four or five customers with similar interests. And, at his larger producer meetings, he has even seen ranchers eating at the same restaurant who weren’t invited to his meeting. He pulled them into the meeting, bought their dinner and turned them into customers.

6. Follow Up. At the meeting, you will want to keep track of everyone who attends, either by way of a sign-in card or sheet. Make sure you have their phone number, email or address so you can follow up with them. It is said it takes seven touch points to make an impression. You’ve likely already made a few with the invitation and the interaction at the meeting. Be sure to give them a day or two, follow up, answer any questions and see what products they would like to buy from you.

“It’s become a social event for a lot of guys now because they get to see the other ranchers there, and they really enjoy it,” Micke said.

Yes, your producer meeting can be effective AND enjoyable at the same time. Remember a worth-while producer meeting is a way to increase your customer base, show appreciation to your existing customers, and be a great educational forum.

As you make plans for your next effective producer meeting, be sure to reach out to your ASM.

Growth Starts with a Plan

Set your goals. Increase your sales. Grow your business. These are all great thoughts; however, do you have a plan on how to accomplish these tasks? A business without an action plan doesn’t really have a plan at all. And although creating an action plan might seem like just another thing to add to your growing “to do” list, the steps of creating an action plan are a healthy way to gain another perspective of what your company is doing and hopes to accomplish.

According to an online resource, Community Tool Box, there are five reasons a company, business or organization should create an action plan:

1. To lend credibility. An action plan shows members of the community (and your employees, board members) that your business is well ordered and dedicated to getting things done.
2. To be sure you don’t overlook any of the details.
3. To understand what is and isn’t possible for your organization to do.
4. For efficiency: to save time, energy and resources in the long run.
5. For accountability: to increase the chances that people will do what needs to be done.

It is wise to start creating an action plan as soon as your business is formed, but an action plan is an evolving document that will change and grow over time. Remember, once it is created, use it. Don’t just stash it away in a folder, never to be seen again.

Action plans can be grueling to create. They aren’t going to be generated overnight, and they are going to make you think about the priorities in your company. However, once you have the plan created and have shared it with everyone who works for you, your employees should be more efficient, and will spend more time working on the actions rather than doing tasks that don’t lead to growth or success.

Let’s review some key components of an effective action plan.

First, outline the clear goals you plan to accomplish with your action plan. When making a goal, make sure it is “SMART,” specific, measurable, attainable, realistic and timely. Next, assign the person, people or team to complete each particular goal. Yes, it might involve others along the way, but these people or teams should be the primary action-takers. Then, list the action steps to be taken to attain that goal and give deadlines for each step.

There is some other key information you will need to consider for your plan. What will you need to do to start your action? What are some obstacles that you might face? How will you overcome those? What resources will you need? Do you need sales coach help? If so, who will you reach out to? And finally, list the milestones you will reach along the way.

It is vital to have a plan to accomplish your goals. An action plan helps you to stay on task, make sure what you are working on is pertinent to the company and lets everyone know who is responsible for given deadlines. You may even find as you are creating an action plan that a goal you had in mind was actually a task to help you accomplish a greater goal, or it wasn’t part of the company’s overlying mission or vision, so there isn’t a need to spend time on it.

As the new year gets started, we challenge you to think about the goals that will drive your success in 2019 and create an action plan to help you get there. We can’t wait to watch your business grow this year!

Share Your Story

It’s the anniversary dance at a friend’s wedding. The emcee announces for all married couples to gather on the dance floor. Immediately, the newlyweds are seated, being the most recently married. Then in five-or 10-year increments, couples are dismissed by the number of years they have been married. One couple remains, dancing hand-in-hand like they have for 57 wonderfully wedded years. Don’t you wonder what their story is? What is the secret to their success?

And now you’re wondering what that story has to do with being in business or more specifically the animal nutrition business. The point is, everyone has a story. Everyone, including you. And it is time to tell your story.

According to the Small Business Administration, there are more than 28 million small businesses, making up 99.7% of all U.S. businesses. That makes your story one in 28 million! Do you know your story? Do you have a 3-minute “elevator” speech to share with someone if you were mingling at a party or at a networking function where you didn’t know others in the room? Think about it. What is your story? What makes you unique? And I know there is something unique about each and every one of our dealers.

First, determine what your story is. Perhaps, you are an equine enthusiast who became passionate about the products and want to share the products with all of your friends at the barn, show, rodeo, etc… Or, you might be a second-generation dealer who is taking over the reins of the family business – the farm and the feed dealership. Maybe, you are young person who felt there was a void in your “neighborhood” for a high-quality mineral program.

Once you determine what your story is and why you’re passionate about helping animals and their owners, determine who your audience is. Obviously, it is your customers. But, there are potential customers in your everyday lives too. Chances are your doctor or dentist has a dog or maybe even a horse. Do they know that you sell a product that can improve the health and well-being of their four-legged friends? And what about the local service organizations? Rotary, Kiwanis, Sertoma. Those groups are always looking for local businesspeople to come share their stories and how they are involved in the local community. Reach out to them to get on their calendar.

How will you tell your story? Of course, speaking engagements and one-on-one conversations are great. But you probably won’t be able to talk to everyone at one time so use other methods to share your story. Share it on social media. What do you do at the feed store on a daily basis? Did you go out to a customer’s ranch and take forage samples to send in? Document that with pictures to share on Facebook, Instagram or your business web site. People are interested. They have a desire to know what you are doing and how you do it. Explain the process. If you have customer newsletter, devote part of that to your story. Or work with your local paper to have a regular column in it to talk about agriculture and animal health – another great way to share what you are doing.

No, it isn’t always easy to talk about ourselves. And we might not think what we do on a daily basis matters. But remember, as a business you are one in 28 million. You have a story. Share it with those around you. You might be amazed at the positive feedback you receive.

How Employee Personality Profiles Can Save You Turnover Loss

If you’ve ever read the book, “Good to Great” by Jim Collins, you will understand getting the “right people in the right seats on the bus.” Companies don’t fail because they have bad employees, employees that aren’t trained properly or employees that don’t have the right personality. Companies fail because they don’t have the right people “in the right seats.” In other words, they have great employees, but perhaps they don’t have them in positions where they were meant to succeed.

Employee turnover is costly. There is no real way to measure it; you have the time and effort it takes to promote the vacant position, another employee has to fill in, resulting in decreased productivity; if the employee that left was one that others liked and respected, other employee morale could be down, also resulting in lowered performance or even causing others to leave their jobs. By the time you replace one employee that already understood your company culture and policies, recruit, hire and train a replacement employee, you are looking at spending thousands of dollars, and potentially having lost revenue due to losses in employee performance.

In his book, Collins talks about getting people in the positions that they are best suited for. Sometimes a company will hire someone on the premise that that person thinks they know their skill strengths, but they might not always realize their personality strengths and weaknesses. Although personality assessment does take time and money, the investment is typically one that pays off in the end and is less costly than employees leaving and having to recruit, hire and train.

At BioZyme, the employees took the Prism assessment. The results revealed insights into the employees “Emotional, Relational and Team Intelligence (ERT-i). This highly relevant and transformative data will provide you with critical information to impact your personal and professional performance, productivity and success.” In other words, the report likely told each individual things he or she already knew. However, it is an opportunity to let others within the company know more about how to work with each other and for supervisors to make sure they have the right people in the right seats on the bus.

Prism is just one of many assessments that companies can utilize. There are many options available at a variety of price points. Some come with further training while others provide a report and guidance on how to use that report.

So just how important is personality? As Virgin Mobile CEO Richard Branson put it, “Most skills can be learned, but it is difficult to train people on their personality.”

Let’s look at this example. For one Ohio-based company, taking a personality assessment helped its Human Resources and Management teams get people in the right positions. They discovered the person they had working the phones in a marketing customer support role was an extreme introvert. And while his degree was in marketing, he had a passion for graphic design. The company moved him into a design position where he could better use his talents and had no interaction with customers. He became very successful in his job. The same company discovered they had an employee who was very outgoing who hadn’t had the opportunity to talk to customers. They moved her into that customer support role, working on the phones. Not only did her career flourish, but customer satisfaction improved too.

Employee satisfaction and attrition go hand-in-hand. You can save the time and expense of employee turnover by making sure you have the right people in the right positions.

How Employee Strengths Help Serve Customers

Customers are the backbones of our businesses. They are the reasons we have a business, after all. And many customers are friends first or become good friends over time. They deserve the best when it comes to customer service, and you want to provide the best to them.

However, it might be that not every employee you have is programmed to provide the customer service your customers expect. And that is ok. Every person has some strength or strengths that make them a valuable part of your team, and it is important to evaluate those strengths, communicate those strengths to them in the form of affirmation and use those strengths to be an important part of your team.

Perhaps you have an employee that is impeccable at cleaning, stocking shelves and maintaining inventory, but finds conversation with others mundane or even uncomfortable. Keep that employee in the back to clean and stock, and only use for customer service if someone needs help loading product.

On the other hand, perhaps you’ve hired someone to load out product and stock shelves, that never can complete the assigned task because he or she is always talking to customers and making product recommendations. That person clearly needs to be in a customer service role. Typically, extroverts who enjoy helping others make great customer service reps.

But what does this have to do with overall customer satisfaction? Employees who are doing what they are good at, show up and are engaged and will provide better service. Better service leads to increased customer satisfaction.

According to an article by Stuart Hearn on www.brandquarterly.com: “A 2016 Gallup poll showed that strength-based companies enjoy more profit, better sales, and higher levels of customer engagement. In large part, this is due to the fact that when employees feel positive about their performance, and they are able to work to their strengths, they feel more engaged, and are therefore more passionate about their company and their work. They’re also more invested, meaning they go that extra mile to ensure customers have a great experience. Employee engagement has been termed the ‘wonder drug for customer satisfaction,’ so every time you emphasize strengths in your employees, you should remember the domino effect it creates.”

It all goes back to getting the right people in the right positions. Capitalize on employee strengths to make sure your customers have the best service around. Customers can go anywhere to buy feed and mineral, but make sure they are coming back to your business to get the best customer service that they deserve!

Dealer Spotlight: Share What’s On Your Heart

Albert Einstein once said, “The only source of knowledge is experience.” While experience is usually a good teacher, BioZyme® Inc., wants its dealer network to have resources readily available to them to help them learn along the way.

The staff at BioZyme works to offer educational tools that will fit the needs and learning styles of its diverse group of dealers. We know that everyone is busy, and everyone absorbs information differently. That is why we offer resources like printed materials, the Online Dealer Center, webinars, the Facebook group, Area Sales Managers and office staff to assist you when it comes time to learn about products.

During the recent Dealer Retreat, dealers had the opportunity to share with each other and some of the BioZyme staff what educational tools they found most helpful and how they would like to be further assisted during a “Dealers to Dealers” session led by National Sales Director Alan Lee and Outreach Support Center Director Jennifer Miller. Survey questions were answered anonymously through a texting app that let dealers respond from their own phones and led to open discussion.

A majority of dealers did indicate that they use at least one or more of the primary forms of education available to them: their ASM, printed literature, the Online Dealer Center and BioZyme Office Support. Most ASMs do cover a large geographic area or represent a great number of dealers. In an effort to provide even more support, a dedicated call center is being rolled out this month, to help the company stay in contact with its dealers and sub dealers. Regular calls and emails will be going out to the network to ensure that the dealers have all the resources they need. Miller is heading up these efforts.

One of the best ways dealers can learn from one another is through exchange on the Message Board in the Online Dealer Center. The Message Board is an outlet to post your questions, share what has worked for you, and receive input from others in the same business.

It was agreed upon that customer testimonials and results from research trials were both useful information when sharing products with potential customers. Dealers in the sessions would like to see more region-specific testimonials. If you have a customer success stories that you would like to share with the marketing department, please contact your ASM with those success stories so they can relay information to the Marketing Team. Also, if you need specific research on a topic, check with your ASM, as he or she is a great resource.

Finally, don’t be afraid to share what has worked for you as a dealer. Share your thoughts on the BioZyme Dealer Facebook page or let us feature you in the Dealer Spotlight in VISION. Share what’s on your heart. Chances are, there is another dealer in this big network looking for a solution that you’ve already discovered. Or, if you are one of those dealers facing a challenge, reach out to another dealer. We’re in this together.

Your Marketing Journey Made Simple

As you journey down the Yellow Brick Road to Success, you’ll find many curves, paths and forks in the road. But when it comes to marketing, you’ll likely take the shortcut. Time and money – two resources that many are short on – often put marketing lower on the list of priorities. But, don’t take that shorter path just yet.

In 2017, the BioZyme® Marketing Team compared web site traffic analytics to product sales and found there is a direct correlation between web traffic and product sales. Further, they discovered that getting customers to the Dealer Locator meant more business for you, our dealers. With those findings, the Marketing Team has developed a way to simplify your social media marketing journey, saving you both time and energy, and hopefully driving your sales. Let’s take a short journey down the Promoboxx path.

The Promoboxx Social Media platform is one tool that BioZyme has started using recently to offer dealers exclusive digital content for all brands to drive awareness and sales locally, at no cost to the dealer. Because of the agreement between Promoboxx and BioZyme, only a limited amount of “partners” are allowed, so BioZyme is offering this service to VIP Dealers and Master Dealers.

Promoboxx is an application that allows BioZyme to make its content readily available for its dealer partners. Once the content is created, the partner/dealer can go into Promoboxx and schedule the content onto his or her own

social media (Facebook, Twitter, Instagram) or post it to his or her web site. The social content will have a “local” feel, providing more relevancy to the audience. Anyone who clicks through, will go to a co-branded landing page, keeping your customers tied to you, but providing the look and feel of BioZyme’s national message.

One South Dakota dealer took what he learned during the hands-on session at Dealer Retreat and applied it immediately, sharing a Promoboxx post about Sure Champ Extreme. That same evening he had a call and an order from a new customer, all because he invested a small amount of time learning about this platform and its benefits.

“Our brands have a strong national message and it is important that when customers come into the store they are seeing that same message, so it is a seamless transition from online promotions to in-store knowledge,” said Kristi Stevens, Marketing Project Manager about the relationship with the dealer network. “It is a partnership – we know that when dealers spend time with the customer, they can provide the one-of-a-kind customer service that we can never fully achieve online.”

Sometimes, the shorter path is the more direct route, especially when you have national marketing partners that have helped you save both time and money. When you have partners in marketing that have invested time and effort into creative, why would you travel down that road again? With Promoboxx, your marketing journey just got smoother. To learn more about the benefits of Promoboxx and the eligibility requirements, contact Kristi Stevens at kstevens@biozymeinc.com or (816) 596-8795.

Don’t Let Profitability Be Wicked

As business owners, you have many goals. But your number one goal should be to be profitable. Nearly 95% of all small businesses fail in their first five years because of the lack of profit – now that is a wicked statistic.

Turning a profit doesn’t have to be wicked. With proper planning, studying the past and the willingness to make changes when needed, your business can be profitable and successful. BioZyme President, Lisa Norton, shared several key strategies for profitability during a breakout session at the Dealer Retreat.

“Profitability should be the primary goal of all businesses,” Norton said. “Measuring current and past profitability and projecting future profitability is very important.”

Before reaching profitability, a business owner must first understand profitability. Profitability is more than the income or money that comes into your business. Cash can come into the business for many reasons like money due from past invoices, services, pre-payments or financing. But pure profit is a simple calculation:

Sales, Revenue OR Income – Expenses OR Costs = PROFIT.

The five “not-so-wicked” tips Norton offered include:

1. Figure out gross profit margin

Your gross profit margin can be deceiving. Remember it is the difference of all income for goods and services and the total cost of goods sold (C.O.G.S.). Be sure to include not only the cost of the products, but packaging, labor to make the products and other costs associated with the production of the product.

2. Analyze the gross profit margin on each and everything

By analyzing every profit margin for each product, you will have a deeper understanding of the products that you sell that generate the most profit, and the ones that generate little profit or even worse, lose you money. It is best for your business to stop selling anything that is losing your business money and focus your efforts in promoting and selling the products that create the highest margin.

3. Review all your prices

Do you charge all your customers the same amount? If so, why?

Some customers might not be as price sensitive as others – think government or other bigger businesses that can spread their expenses over more numbers. Don’t feel bad about increasing prices for some of those customers. Be sure to keep up with rising prices from your supplier and to raise prices as your competition does. It’s ok to increase your prices – your business survivability depends on it. Here is an example Norton shared with the group,

“It’s true that you might lose a customer if prices are raised, but if your margin is 50 percent, a 10 percent increase in prices means you can lose 17 percent of your customers and be no worse off,” she posted in one slide. Chances are a slight price increase won’t cause you to lose 17 percent of your customers if you remember to sell the value of your products and your customer service.

4. Use an inventory system

It is vital to know what you have on hand and to use some type of system to track your inventory. If you do have inventory in stock, make sure it is displayed, because if the customers can’t see it, they won’t buy it, and they likely will move on to your competitors for another product. When getting in new inventory, remember to rotate your stock and use the FIFO system – first in, first out – because no one wants to buy an old product.

5. Think about the best way to cut up money

Now, you might think tips about profitability shouldn’t mention “cutting” money, but Norton used a great visual with play money to demonstrate how to “cut” expenses from your profit equation. Each person in the room had one dollar to spend, and they had to decide how to spend their dollar on marketing, by cutting it into sections. Would you spend half your dollar on print advertising? Cut it in half, and you have half a dollar to spend on digital efforts, radio, creative design, research, boosting social media posts. How far will that half-dollar go? Because once you spent that first half, you can’t get it back, and if you are going to be profitable, you can’t ask for another dollar.

It shouldn’t surprise anyone that most people in the room, “cut” their money in different ways. That’s because everyone’s businesses are different, and everyone has different strategies to meet their goals.

Being profitable doesn’t have to be wicked at all. It can be a challenge that you face with courage and resolve. Follow these five simple steps and enjoy your journey to profitability.