Sixth Annual Vermont Employee Ownership Conference Announced

first_imgThe Vermont Employee Ownership Center (VEOC) has announced the date and location of its Sixth Annual Vermont Employee Ownership Conference. The event will take place on Friday, June 6th, 2008, at Champlain College in Burlington. Registration information is available at www.veoc.org(link is external).Attendees will learn about the unique benefits and challenges of employee ownership at this full-day conference packed with 14 workshops. The event is geared towards members of employee-owned companies; business owners and managers considering employee ownership; bankers, accountants, attorneys, and financial planners; government officials and staff members; economic development professionals; and anyone interested in employee participation or sustainable business models.This years keynote speaker is Veda Ferlazzo Clark, president and CEO of Litecontrol Corporation, a 100% employee-owned company. Ms. Clark will talk about the rights and responsibilities of employee ownership and how companies can decide what employee ownership means for them. The workshops will be led by experts in business management, finance, and law. As in past conferences, many of the speakers hail from Vermont-based employee-owned companies, including Gardeners Supply, King Arthur Flour, Pizzagalli Construction, and Carris Reels. This year will also include several notable speakers from outside Vermont, including Rodney North of Equal Exchange, Mary Josephs of Bank of America, Peter Paquette of Claremont Flock Corp., and Veda Ferlazzo Clark of Litecontrol Corp.About VEOCThe Vermont Employee Ownership Center is a nonprofit organization dedicated to promoting and fostering employee ownership. The groups goals are to broaden capital ownership, deepen employee participation, retain local ownership of businesses and the jobs they support, increase living standards for working families, and stabilize communities. VEOC works directly with owners interested in selling their business to their employees, employee groups interested in purchasing a business, and entrepreneurs who wish to start a company with broadly-shared ownership. For more information, visit www.veoc.org(link is external).last_img read more

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A sales audit for your credit union

first_imgAudits are an ordinary part of a day in the life of your credit union; they are a measure of effective internal controls and procedures. However, when is the last time you audited your sales processes and entrepreneurial efforts against established checklists that generate reliable revenue and member engagement? Here are some guidelines and questions on how to begin a sales audit at your credit union.Establish SystemsDo you have a formal structure in place for sales and outbound business development? Do you have dedicated staff members responsible for acquiring new business? Does your credit union provide leads, interest lists, and potential opportunities for these professionals? Do these professionals know how to develop individual sales proposals that present a member’s potential financial benefit from a deeper relationship with your credit union? Does your credit union maintain a sales management system that helps prioritize opportunities in your sales pipeline? Are your sales leaders compensated with a fair base salary and generous upside for helping your credit union grow relationships?Measure StandardsHave you established a goal for daily sales outreach efforts for each sales professional? Do you understand the ratio of sales calls-to-sales meetings? Sales meetings to sales success? Have you employed bullet-point style scripts for your sales professionals to tailor to their personalities and speaking styles? Are your sales activities and habits detailed and consistent, whether centralized or branch-delegated? Have you established reasonable goals for each professional to achieve? Do you have daily and weekly coaching and success sharing sessions? Are incentives in place that reward sales activity and success in the short term (weekly and monthly) and long term (quarterly and annually)?Gauge SuccessAre you noticing a slow, but steady increase in products per member? Has the ratio of applied to approved loans increased? Has the ratio of approved to funded loans grown? Has the percentage of borrowers to members risen? Have new members established loyal relationships (defined by your credit union) in the first year of membership? Has your member retention rate increased? Do you see growth in revenue, profit, and lifetime value per member? Have members expressed satisfaction in their newfound financial benefit due to your sales leadership and activities? Are your sales professionals succeeding and enjoying their role in your credit union’s growth?Audits are designed for checks and balances, as effective in sales as in accounting. A sales audit serves as an intentional check on your sales systems and an essential balance to align and expand the experience you want for your members and the value it creates. 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Jeff Rendel Jeff Rendel, Certified Speaking Professional, and President of Rising Above Enterprises works with credit unions that want elite results in sales, service, and strategy. Each year, he addresses and facilitates … Web: www.risingaboveenterprises.com Detailslast_img read more

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