| February 8, 2013 | News for the wholesale distribution industry |
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- Reliance Steel to acquire Metals USA Holdings
Reliance Steel & Aluminum has agreed to buy Metals USA Holdings, a producer of steel and aluminum components. "Metals USA is an excellent fit and nicely complements Reliance's existing customer base, product mix and geographic footprint," Reliance Chairman and CEO David Hannah said. Google/The Associated Press
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| Operations and Technology | | |
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- Planning and strategy aren't the same thing
Creating a "strategic plan" isn't the same thing as crafting a meaningful strategy, writes Roger Martin. A strategic plan is often simply a souped-up budget, while a strategy "is the making of an integrated set of choices that collectively position the firm in its industry so as to create sustainable advantage relative to competition," Martin argues. Harvard Business Review online/HBR Blog Network
(2/5)
| Sales and Marketing | | |
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- 5 tips for coaching your sales team
Sales managers can get better at coaching their representatives by communicating clearly, focusing on accountability and raising the performance standards, writes Anthony Cole. "Starting today -- or as soon as you begin setting goals for your next fiscal year -- eliminate the minimal acceptable standards of performance and embrace a new approach of extraordinary standards of performance," he recommends. Eyes On Sales
(2/5)
- How to make your sales forecasts more accurate
Creating accurate sales forecasts can be tricky, but it's easier if you create clear definitions for the stages of the sales process, according to this blog post. Make sure your representatives are asking prospects the right questions, and do your research to understand the procurement process your buyers are using. HeinzMarketing.com
(2/5)
- Drawing B2B lessons from the Super Bowl's top mobile efforts
B2B marketers can learn from how B2C brands such as Oreo, GoDaddy and Coca-Cola used mobile during this year's Super Bowl telecast, writes John Koehler. Oreo's spot about a library fight ended with a decisive "cookie" or "cream" call to action tied to Instagram, and the Coke Chase, in which voters determined the ending of a commercial, used gamification techniques that resulted in strong viewer response. Oreo's follow-up graphic on Twitter during the Super Bowl's prolonged blackout showed the benefit of "monitoring and being proactive with mobile trends," Koehler writes. Sales Benchmark Index/Sales & Marketing Effectiveness Blog
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| The Business Leader | | |
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- Why good leaders ask "power questions"
Smart leaders are good conversationalists, which means they know it's better to ask questions than to talk incessantly, says business author Andrew Sobel. Your curiosity will empower the other person, allowing you to make a good impression and to learn. "When you ask thoughtful questions, you supercharge your conversations," Sobel explains. SmartBrief/SmartBlog on Leadership
(2/5)
- Why specificity is key when praising your staff
As the research of psychologist Carol Dweck shows, it's important to be specific when praising your employees. Rather than offering general compliments, highlight the specific behavior that you want to encourage, writes Margaret Heffernan. This sort of feedback can motivate employees to keep up the good work, she writes. Inc. online (free registration)
(2/4)
| NAW Insider | | |
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Why is everyone talking about the "cloud"?
Cloud computing is achieving substantial traction among our industry due to the advantages of the operational and financial benefits that come with migrating to the "cloud" (quicker time to market, elimination of capital expenses, etc.). To discuss how the cloud could have a positive impact on your company, schedule an appointment with an expert in this field.
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"Triple Your Profit!" with the help of Al Bates
"Triple Your Profit!" by Al Bates of Profit Planning Group is a four-part profit-management system that is for small distribution firms serious about making more money. It contains proven techniques that work. Focus on profit, not sales. Don't cut prices -- ever. Have a plan, not a meaningless budget. Buy this book, use, it, and watch your profits grow. Watch Al.
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