CEO's Notebook

Questions and comments from senior businesspeople concerning such as topics hiring, thinking, and banking.

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CEO's Notebook

I need good sales reps. Where do I look?
Tony Prisco of GI Apparel, a $20-million company in Farmingdale, N.J., turns to other companies for help finding top-notch reps to sell his novelty T-shirt line. If Prisco is trying to break into a particular geographic area, he calls manufacturers of complementary products with significant distribution in that region and asks which sales representatives they use. While not everyone will share a talented rep, some manufacturers happily pass along names. "They know who the good reps are," Prisco says. "They've already done your job for you." If he's trying to get into a particular store, Prisco contacts the buyers and asks them to recommend a rep. "Buyers like to work with only a limited number of vendors," he says. But the stores might buy from Prisco if he can go through a rep they already deal with. --Christopher Caggiano

Benchmark
Where to Find Business Help
Where do small-business owners get information to help them run their companies? According to a recent survey, the most popular sources are magazines and newspapers, followed by books and software. The next choice? Local business organizations such as chambers of commerce and Rotary Clubs. That doesn't surprise the U.S. Chamber of Commerce, since 75% of its members are businesses with 10 or fewer employees. Mary Lou Bessette, president of Bessette & Co., a home-based consulting business in Phoenix, even uses her state chamber of commerce office for client meetings. "I can meet customers at my home," she says, "but if they don't like miniature dachshunds, I'm in trouble." --Stephanie Gruner

*NUMBERS DO NOT ADD UP TO 100% BECAUSE OF MULTIPLE RESPONSES.
Source: Survey of more than 300 small-business owners with fewer than 100 employees, conducted by New England Business Service Inc., in Groton, Mass., 1996.

How can I identify good candidates for a telephone-intensive job?
"It's amazing the number of people who are uncomfortable on the phone," observes Chuck Surack, president of Sweetwater Sound, a $20-million business in Fort Wayne, Ind. When Surack hires telephone salespeople, he runs newspaper ads listing only the position and a telephone number. Callers get a recording that introduces Surack's musical-equipment company and gives them five minutes to explain why they should be hired. Any caller who provides a good "audio rÉsumÉ" is asked to submit a written version. --C.C.

How can I get more from my bank?
Terry Anderson, CEO of $58-million computer manufacturer Omni Tech, in Pewaukee, Wis., says that changing his attitude improved his banking relationship. "It took me a long time to realize that I'm valuable to a bank," says Anderson, whose Inc. 500 company had sales of close to $5 million as recently as 1991. Viewing his bank as merely one of his suppliers makes Anderson feel more comfortable playing the demanding customer. The result? His bank started offering better terms. Here's his advice:

Check out your peers' banking relationships. Anderson asks fellow businesspeople what kinds of deals they get from their banks and then asks his bank for similar terms. He also taps his accountants for advice. "They said we could get a better interest rate by a point," says Anderson. Sure enough, the bank agreed to that. Other improvements: the bank waived a number of requirements and granted him a certain type of sweep account.

Shop around. Anderson submits financials to two other banks every quarter and meets with them semiannually. He says the process lets other banks track his progress and keeps his bank competitive. "It's OK to let two or three banks work against each other," he observes. "They'll recognize you as a shrewd player and accommodate you." --S.G.

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