US Corporations Post Gains and more

Financial News and Portfolio Management Discussion through September 1st

All the news you need to stay informed about what’s currently driving the market — courtesy of Raffa Wealth Management, LLC.

US stocks rose over the week reaching new record highs on positive trade developments.  The S&P 500 gained 0.9% and the Dow rose 0.7% for the week.  Internationally, Japan jumped 1.2%, while Europe eased 0.3% for the week.  The yield on the 10-year Treasury edged up slightly over the week ending at 2.85%. Continue reading

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Sometimes You Need Technology, Sometimes You Need to Go Old School

Posted by Raffa Financial Services on 08/27/2018

Technology is an amazing tool, especially when it comes to communication. It can make us faster, more accurate, and more efficient.

We’ve happily replaced phone calls with emails and emails with texts. In-person meetings? Forget about it! A quick conference call, webinar, or online chat is just as effective.

Or is it?

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Do You REALLY Need a New Salesperson?

Posted by Raffa Financial Services on 08/23/2018

Of course you want more sales. Most businesses do. But finding a new salesperson who can produce on par with your best is one of the most difficult hires to make. And the truth is, you might not even need to.

Before you invest a ton of time and energy into launching a search, take a moment to think about what it is you truly need.

With a slight shift in thinking and strategy, you may be able to increase sales without the stress of hiring and training another salesperson.

Sounds impossible, right?

Wrong. Think of your most successful sales producer. When she first came onboard, she had all the time in the world. Time to prospect, time to make sales presentations, time to close deals. It’s no wonder she was so successful!

But with that success has come other demands on her time. Now she’s spending more and more time taking care of her clients and protecting the businesses she’s built, which naturally leaves her with less and less time to spend on prospecting, presentations, and closing. At this point in the game, she may only be spending only 10% to 20% of her time on sales-related activities.

Meanwhile, you want to keep increasing sales. So you decide to go looking for another salesperson just like her. Someone who can prospect, present, and close on par with what she was doing back in the day. But the truth is, your star salesperson could already be doing that for you. If you found a way to free up more of her time.

Time is money

Instead of hiring someone to replace you star salesperson’s revenue, why not hire someone to take on her non-sales related work instead? You know, all of those day-to-day service and process activities that are taking away from her ability to do what she does best: keep selling!

If you hire someone to take those responsibilities, you’ll get your old salesperson (and her amazing numbers) back in no time flat. Without the expensive talent search and time consuming learning curve.

Evaluate the various demands on your top salesperson’s time. When you come across tasks and activities that don’t have to do with prospecting, presenting, and closing, move them to a separate To Do list, then package them together to create a job description for the new person you want to hire.

Based on how prolific your salesperson is, the new position could be relatively high level job. Perhaps even a relatively expensive one. But it will also be easier to fill and execute with predictable success. And the main advantage here is that it will free up your proven talent to get back out there and start closing deals and increasing revenue.

Let your high performer shine

Imagine what your best salesperson could do if you were able to give her back the 70% – 90% of her time that has slowly been taken over with non-sales related issues. Even if you only recapture 50% of that time, it will be a huge return on your hiring investment.

The next time you find yourself wishing for another gifted, knowledgeable, and charismatic salesperson, and think for a moment. Do you really want to launch a search for your company’s next great sales talent, and invest the necessary time, energy and resources needed to bring them up to speed? Or do you just want to unleash your current superstars and let them do what they do best?

Give your top performers the support they need to live up to their full potential, and you’ll quickly discover you have all the salespeople you need.

Running into challenges with employee engagement, turnover, and retention? At Raffa Financial, we’ve got ideas to help you address these issues and more. Get in touch with Raffa to find out what working with a true employee benefits consultant feels like.

Photo by Oksana Mironova

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Walmart; US Sales Rise and more

Financial News and Portfolio Management Discussion through August 18th

All the news you need to stay informed about what’s currently driving the market — courtesy of Raffa Wealth Management, LLC.

US Stocks gained for the week as concerns over Turkey’s crisis snowballing across the globe eased and earnings were solid.  The S&P 500 rose 0.6% and the Dow gained 1.4% for the week.  Abroad, Japan edged down 0.1% and Europe sank 1.2% for the week.  The yield on the 10-year Treasury ended the week at 2.87% up slightly from the previous week.

China’s fixed asset investments hit their lowest level in close to two decades over the first seven months of the year.

US retail sales rose 0.5% in July well ahead of forecasts and are up 6.4% from a year earlier.

US factory output rose 0.3%.

US and Chinese officials have discussed resuming talks to try and end the trade standoff prior to a meeting between the leaders of both countries in the fall.

Walmart reported sales rose at the fastest pace in over a decade in the past quarter.

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Leadership Sets the Tone for Your Team

When you look around a company and see a common set of behaviors, you can usually tie it back to the behaviors of the leaders.

Positive, focused, driven behaviors by leaders set an example, and it’s very common for the team to generally behave in the same way and have similar attitudes. It’s contagious. And people tend to rise to this level of expectation or standard.

The same holds true for the negative behaviors displayed by leaders. When the team regularly sees poor behavior, they begin to see it as acceptable and respond accordingly. People also tend to lower their output to the level of expectation or standard. Continue reading

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Pro Tips for Training Your Employees. And Your Dog?

If you’re a dog lover, you’ve probably put a lot of time and effort into training your furry friends. Why? Because the ROI on a well-trained, happy dog is huge. Skip out on this important step and you’ll end up with a misbehaving yappy-pants on your hands.The same is true for your employees. If you don’t invest in proper training, it could come back to bite you.

When it comes to training employees, there’s a ton of research on how best to do so. But sometimes it’s fun to look at it from another angle. Besides, who doesn’t want an excuse to post an adorable puppy pic? So instead of hitting the business books for great leadership advice, we’re going to take look at some top training tips from dog whisperer Paul Owens to see how they stack up.

Ready to unleash the learning? Let’s go! Continue reading

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Financial News and Portfolio Management Discussion through August 11th

All the news you need to stay informed about what’s currently driving the market — courtesy of Raffa Wealth Management, LLC.

U.S. stocks had their five week winning streak snapped driven by trade concerns and the plunge of the Turkish Lira. Worries arose that the country would not be able to repay its debts and its troubles could ripple across emerging markets. The S&P 500 eased 0.2% and the Dow dropped 0.6% for the week. Internationally, Japan, sank 1.0% and Europe fell 0.8% for the week.  Emerging markets dropped 2.3% over the week. The yield on the 10-year Treasury fell as investors sought safe havens ending the week at 2.86%.

With the finalization of an additional $16 billion in tariffs of Chinese goods starting August 23rd it will bring the total amount of Chinese goods covered by US tariffs to $50 billion. Continue reading

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