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    Date Last Updated
    Saturday June 16, 2007

Stanton Royce, MBA

How much money will you get back by hiring us?
Click here to find out.

How Much Will You Get Paid For Hiring Us?

When the boss asks, "What's this going to cost us? It better be worth it!" you'll need a good answer. The best answer is that our presentations will pay you a lot more than they cost.

To help calculate how much you'll get so you will know these fee guidelines will fit with the company budget, you may want to read "What's Your Meeting ROI?" (attached, below).

- Ask about our multiple-day training and consulting packages.

- Ask about training delivered via the Internet or Phone Conference at reduced fees.

When the boss asks, "What's this going to cost us? It better be worth it!" you'll need a good answer.

First, a question: what is this meeting going to accomplish? Do you want to increase sales? Teach your people some new skills? Thank them for a job well done? How will you know when you've achieved your objective? Once you know what you want, you can decide if your meeting will be worth it.

Is it Worth it?
Some companies grouse about training their people. "With turnover the way it is, we're going to train them and they're just going to leave." What if you don't train them and they stay? Companies bring authors and other celebrity speakers to their meetings because it shows their people that they're important to the company. It says, "We're bringing in the first team instead of the second-stringers, because you're worth it."

What's the ROI?
If you can't get back at least 110%, a ten percent return on investment (ROI), from your speaker or consultant, don't bother. But if you can increase the efficiency of a $35,000-a-year-person who produces $100,000 of value by just 5%, your ROI is $5,000 over the next year for that one person alone. For customer service people, you can measure increased customer satisfaction, decreased returns and cancellations and increased customer loyalty. With your sales force, you can measure increased sales and profitability, decreased discounts, reduced customer turnover and reduced employee turnover. For one salesperson with a $1,000,000 quota, a 5% improvement is worth $50,000.

Another measurable opportunity for ROI results from reduced employee turnover costs. Immunizing people against failure and rejection has proven to reduce annual turnover between 25% to 35%. If a firm's annual turnover is 30 employees for example, each earning on average $30,000 annually, the cost for hiring new employees is approximately 30 times 1.5 times $30,000 or about $1,350,000. Even if our program only reduced your employee turnover a very low 5%, that is still an employee turnover cost reduction of $67,500 for the coming year. It is reasonable to expect to pay up to $61,400 to achieve this one benefit alone. When you also add the benefits of increased customer retention, decreased discounts and increased sales for everyone trained, you begin to realize the value of our programs to your firm and to your career for achieving these results for your company.

Why Product Training Isn't Enough
Forum Corporation surveyed the customers of 14 major manufacturing and service companies. They found that 15 percent of the customers switched suppliers because they found a better product or service. Another 15 percent switched because they found a cheaper vendor. Twenty percent left because of the lack of contact and individual attention, and 49 percent left because the contact from the old supplier's people was poor and inconsistent.

Your product or service is only 30 percent of the reason why your customers stick with you. Get an unfair advantage over your competitors by showing your people how to keep the 69 percent or so of customers that your competitors are losing.

Finding the Money
If this is a last-minute meeting and don't have a budget for your speaker, there are a few things you can do to find the money.

Tap a Different Budget
If your company has funds allocated for training materials, or a budget for people to attend public or association seminars, consider using those funds to pay for the speaker. Or consider changing the way you do your meeting. Savvy companies trade off the open bar for training materials. For the price of two or three drinks, you can give your people a book or audio tape that they will learn from long after the party is over.

Consider Sponsorships
Ask business partners, customers, or companies that want access to your group to sponsor the speaker, expenses, or training materials. Speakers can put logos on visual aids, worksheets, and even put stickers on books and other learning materials. The speaker can thank the sponsor from the platform, inviting a thank-you round of applause for the sponsor's VIPs. If your meeting is being convened at hotel, the property will often comp the speaker's lodging.

What's this meeting going to cost?
Here's a list of things you'll need to consider budgeting for your people if you plan a conference off-site and out-of-town:

· Travel - air, ground
· Hotel
· Meeting room
· Hospitality
· Liquor, beer, and wine
· Gratuities
· Keynote speaker, trainer
· Audience Training materials
· Promotional items and gifts
· Entertainment
· Outing(s) (Such as golf or places of local interest)
· Decor rental
· Audio/visual rental, technicians
· Printing
· Shipping
· Meeting planner
· Preparation time (hourly rate) (To calculate the hourly rate, divide annual salary by 2,000 and multiply by 1.4 to include estimated overhead.)

Use this checklist to plan your training meeting, and to head off budget overruns. Use the numbers to make a sound business case for your meeting and plan accordingly. You will be successful beyond your wildest dreams.

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