From the Center for Financial, Legal & Tax Planning, Inc.

Over the course of the first half of October, the SBA has released three new guidelines addressing some of the most frequently asked questions regarding PPP loans. For those of you that are unaware, PPP (Paycheck Protection Program) loans were provided to small businesses as a response to the economic losses due to COVID-related shutdowns. PPP borrowers can qualify to have the loans forgiven if the proceeds are used to pay certain eligible costs. On August 8, 2020, the program stopped accepting new applications even though almost $134 billion of congressionally approved funds remained unspent. Now, most businesses are focusing on applying for forgiveness, which is all but guaranteed so long as 60% of the forgiven amount was used for payroll purposes.

From the NAW Blog

In recent years, inside sales has emerged as a highly profitable channel for distributors. “When appropriately utilized, inside sales reduces cost-of-sales by 40%–90% relative to field sales, while revenues may be maintained or even grown,” according to the Harvard Business Review. Selling more while spending less sounds great, but it is much easier said than done.

From the NAW Blog

More than ever before, distributors have the opportunity to break free of the chains that bind them to meager margins and feeble brands. But, there is a problem. The prevailing distribution mindset is that the forces of disruption and digital transformation highlight the weaknesses in the distributor's business model. Distribution is threatened, but distributors can do more. The forces of change that are enabling disruption are also available to distributors. Breaking free requires a new mindset: Distributors can dominate!

From the NAW Blog

As modern buyers have embraced self-service (via internet searches, social media and e-commerce platforms) for much of their buyer journey, the need for traditional sellers who provide product information — and even application insights — has dropped radically. Buyers complete 70 percent of their journey before they even engage with sellers. COVID-19 has accelerated the pressures to boost productivity and elevate sales teams’ value-add.

From the NAW Blog

By adopting a new mindset, distributors have the opportunity to break free of the chains that bind them to meager margins and feeble brands. That mindset is about believing that they can do more than survive. Distributors can dominate!

Have you ever wondered why use Heli-Coil wire inserts as opposed to other inserts? What are some of the Heli-Coil application  and installation requirements? This webinar, offered by The Olander Family of Companies, will review this topics and other common installation Issues, possible causes and solutions,  and some rather charming Heli-Coil factoids.

The webinar is scheduled for October 14, 2020, 11:00-11:45 am Pacific Time.

From NAW

The COVID Effect on Purchasing

From NAW

In my last post for the NAW Blog Distributing Ideas, I talked about the importance of having an effective board structure as a foundational element of a sustainable competitive advantage, whether your business is public or private. It’s a rare thing, however, and a great one in a distribution company is an exception.

There are a lot of reasons for distributors to adopt AI. As I explain in previous posts, the technology can help inside and outside sales reps sell more, transform customer service branches into revenue drivers and boost e-commerce performance by double-digit percentage points. At this point, the real question for distributors is not if they should adopt AI, but when. In this post, I’ll answer that question.  READ MORE

From NAW

Leading technology companies are offering customers new ways of ordering — by voice or product image. In addition, leading distributors and retailers are using AI-enabled business intelligence to understand their customer needs better, and they are applying autonomous vehicles, including drones, for deliveries. How important is all of this technology capability to your customers?