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Repping 101

Sid Ragona

20 episodes

5 months ago

Let us know your thoughts... Navigating Contract Pitfalls: Non-Negotiables, Non-Competes, and Commission Structures In this episode, the hosts discuss the crucial aspects of written contracts, focusing on three major red flags: non-negotiable contracts, overly restrictive non-compete agreements, and complex commission structures. They emphasize the importance of legal advice and clear understanding before signing any contract. The episode also highlights how to identify and navigate these re...

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Entrepreneurship

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Let us know your thoughts... Navigating Contract Pitfalls: Non-Negotiables, Non-Competes, and Commission Structures In this episode, the hosts discuss the crucial aspects of written contracts, focusing on three major red flags: non-negotiable contracts, overly restrictive non-compete agreements, and complex commission structures. They emphasize the importance of legal advice and clear understanding before signing any contract. The episode also highlights how to identify and navigate these re...

Show more...

Entrepreneurship

Episodes (20/20)

Repping 101

Episode 19. Contract Red Flags for Sales Representatives

Let us know your thoughts... Navigating Contract Pitfalls: Non-Negotiables, Non-Competes, and Commission Structures In this episode, the hosts discuss the crucial aspects of written contracts, focusing on three major red flags: non-negotiable contracts, overly restrictive non-compete agreements, and complex commission structures. They emphasize the importance of legal advice and clear understanding before signing any contract. The episode also highlights how to identify and navigate these re...

7 months ago

12 minutes

Repping 101

Episode 18. Navigating Verbal Agreements in Sales

Let us know your thoughts... Navigating Verbal Agreements in Sales: Risks and Precautions In this episode of Deep Dive, the hosts discuss the importance and risks associated with verbal agreements in the sales world, particularly between representatives and principals. They explore three common scenarios where such agreements might occur—the 'hot lead dilemma,' the 'power meeting temptation,' and involving activities like rep training and product launches before a formal contract is signed. ...

7 months ago

6 minutes

Repping 101

Episode 17. Mastering Contracts for Manufacturers' Representatives

Let us know your thoughts... Mastering Contracts as a Manufacturer's Rep: Essential Tips and Clauses. In this episode, we delve into the crucial role of contracts in the manufacturer's rep world. After making an excellent first impression and securing a partnership, understanding and negotiating contracts becomes vital. We discuss the importance of having a clear, detailed contract to protect both the rep and the principal. Key topics include commission structures, territory rights, t...

8 months ago

6 minutes

Repping 101

Episode 16. Securing Your First Principals

Let us know your thoughts... Landing Your First Principal: A REP Model Deep Dive This episode explores the process of landing your first principal as a new REP, including expert advice from Sid Ragona and David Westdorp, as well as LinkedIn tips from HubSpot. The discussion covers key steps such as pre-contact preparation, enhancing your online presence, and the importance of a good first impression. Practical strategies for building credibility, engaging in meaningful first meetings, and cr...

8 months ago

9 minutes

Repping 101

Episode 15. The Manufacturers Rep Advantage

Let us know your thoughts... The Rep Model: Uncovering Value from the Principal's Perspective In this episode of Deep Dive, the focus shifts to the value of the representative model from the principal's perspective. The discussion covers why companies opt for reps instead of building internal sales teams, highlighting key benefits such as cost savings, leveraging existing networks, local expertise, reduced ramp-up time, and the rep's alignment with sales success. The conversation also explor...

8 months ago

12 minutes

Repping 101

Episode 14. Essential Guide: Business Model Canvas vs. Full Business Plan

Let us know your thoughts... The Essential Guide: Business Model Canvas vs. Full Business Plan. In this episode, we explore the importance of planning for starting a representative (rep) business. We discuss whether a 20-page formal business plan is necessary, or if a Business Model Canvas (BMC) can be a viable alternative. Featuring insights from SCORE mentors Tamara MacDuff and Scott Ladin, and resources from the Manufacturer's Agents National Association (MANA), we break down the pr...

8 months ago

7 minutes

Repping 101

Episode 13. Maximizing Your Rep Journey with MANA

Let us know your thoughts... Maximizing Your Rep Journey with MANA: Tools, Resources, and Strategies In this episode, we delve into the invaluable resources available for reps through MANA, the Manufacturers' Agents National Association. We cover key players in the support system, including seasoned reps, SCORE mentors, and the critical addition of a trade association like MANA. Discover the wealth of knowledge, connections, and tools MANA offers, such as guides, contract templates, and the ...

8 months ago

11 minutes

Repping 101

Episode 12. SCORE Mentors & Building Your Rep Firm

Let us know your thoughts... The Essential Role of SCORE Mentors in Building a Successful Rep Firm. In this episode, the hosts explore the importance of including SCORE mentors in the advisory teams of new representative firms. They discuss the invaluable, free business advice provided by SCORE, a nonprofit with over 10,000 volunteers nationwide, which has been active since 1964. The hosts highlight how SCORE helps new businesses in areas like financial planning, marketing, sales, oper...

9 months ago

7 minutes

Repping 101

Episode 11. Tales From The Trenches: Unlocking Success with Jerry Leth

Let us know your thoughts... Unlocking Success with Jerry Leth: Insights from a Top Manufacturers' Rep. In this episode, we delve into the career journey of Jerry Leth, a seasoned manufacturer's representative who rose to become the VP and GM of the Manufacturers Agents National Association (MANA). Jerry shares how his career took unexpected turns and offers valuable lessons on building a successful business. He emphasizes the importance of choosing the right partners, building trust w...

9 months ago

5 minutes

Repping 101

Episode 10: Tales From The Trenches: Frank Muto

Let us know your thoughts... Entrepreneurship in the Electronics Rep Industry: Lessons from Frank Muto. In this episode of our deep dive series, we explore the journey of Frank Muto, an entrepreneur with 30 years in the electronics rep industry. Frank built and successfully sold his business, the Frank J. Muto Company, and now serves as a SCORE mentor. The discussion covers his strategic decisions, such as structuring his business as an S Corp right from the start, dealing with market dynami...

9 months ago

6 minutes

Repping 101

Episode 09: Tales From The Trenches: Insights of Scott Lau

Let us know your thoughts... Unlocking the Power of Secondary Principles: Insights from Scott Lau In this episode, we explore the intricate world of independent manufacturers reps with insights from industry veteran Scott Lau, who has a remarkable 46-year career as the president of Marcor Associates and a consultant. Lau’s article focuses on the often-overlooked 'secondary principles'—clients who aren't the top-tier but are crucial for a balanced and dynamic business strategy. He provides fi...

9 months ago

17 minutes

Repping 101

Episode 08: Starting a Rep Company: Insights from Industry Veterans

Let us know your thoughts... Starting a Rep Company: Insights from Industry Veterans This episode dives deep into the essentials of starting a representative (rep) company with invaluable advice from seasoned experts Sid Ragona and Frank Muto. Both experienced reps and certified SCORE mentors, Sid and Frank's experiences are discussed on critical topics including legal and financial structures, operational efficiencies, and effective sales strategies. The episode also highlights the importan...

10 months ago

6 minutes

Repping 101

Episode 07: Building Your BAIL Dream Team: Essential Business Partners for New Manufacturers' Reps

Let us know your thoughts... Building Your Essential B.A.I.L. Team for Business Success In this episode, we discuss the crucial but often overlooked step of starting a business: assembling your B.A.I.L. team—Banker, Accountant, Insurance Agent, and Lawyer. With insights from industry expert Sid Rigona and information from the SCORE website, we highlight the importance of establishing this team before you even start your business. Learn how each role contributes to your financial health, comp...

10 months ago

7 minutes

Repping 101

Episode 06. Bootstrapping Startup Financing

Let us know your thoughts... Bootstrapping Start-Up Financing. An in-depth discussion on bootstrapping as a strategy for financing a new rep company. This episode covers the advantages and challenges of bootstrapping, ways to source initial funding, and the mindset and strategies required for success. 00:45 Introduction to Bootstrapping 01:18 Bootstrapping Statistics and Examples 01:47 Practical Steps and Strategies 02:37 Funding Sources 03:36 Commission Advances 05:11 Mindset and Cr...

10 months ago

12 minutes

Repping 101

Episode 05. Sales Commissions Timelines

Let us know your thoughts... Sales Commission Timelines. In this episode, we dive deep into what it takes to build a career as a sales rep, focusing on understanding sales commission timelines. Sid Ragona, a veteran sales rep with nearly 20 years of experience, shares his insights on the stages from onboarding to receiving the first commission check. He highlights the importance of financial planning, patience, and maintaining a safety buffer to navigate the usually lengthy commission...

10 months ago

7 minutes

Repping 101

Episode 04. Starting a Rep Company: Essential Expenses

Let us know your thoughts... Starting a Rep Company: Essential Expenses. In this episode, the hosts delve into the essentials of starting a rep company, focusing on the often underestimated startup costs. They are joined by Sid Ragona, a seasoned rep and SCORE business mentor, who shares his journey and the importance of frugality and strategic investment. The discussion covers legal and business formation, technology, and other hidden costs, and highlights the value of mentorship in ...

11 months ago

6 minutes

Repping 101

Episode 03. Can You Launch a Rep Company While Keeping Your Day Job?

Let us know your thoughts... Can You Launch a Rep Company While Keeping Your Day Job? In this episode, we delve into the complexities of starting a rep company while still working a full-time job. We discuss the allure of becoming your own boss and the potential pitfalls of this dual commitment. Our guest, Sid Ragona, a seasoned rep and SCORE business mentor, shares invaluable insights into navigating this journey, from initial research to time management and building your client base strate...

11 months ago

6 minutes

Repping 101

Episode 02. Funding Yours Rep Business: Do You Need Savings?

Let us know your thoughts... Funding Your Rep Business: Do you need Savings? In this episode, we explore the critical question of whether you need savings to start a manufacturer's rep business. Featuring insights from veteran rep Sid Ragona, we delve into the importance of financial preparedness and highlight four main areas of risk that new reps face. We also discuss what aspiring reps should be saving for and how having savings can provide negotiating power and peace of mind. 00:45 The B...

11 months ago

6 minutes

Repping 101

Episode 01. The Manufacturer's Rep Career

Let us know your thoughts... The Manufacturer's Rep Career: Starting a rep company. In this episode, the hosts delve into the essentials of starting a rep company, focusing on the often underestimated startup costs. They are joined by Sid Ragona, a seasoned rep and SCORE business mentor, who shares his journey and the importance of frugality and strategic investment. The discussion covers legal and business formation, technology, and other hidden costs, and highlights the value ...

11 months ago

7 minutes

Repping 101

Episode 00: Repping 101 Becoming a Manufacturer's Rep

Let us know your thoughts... The Launch Episode of Repping 101 In the kickoff episode of Repping 101, hosted by Sid Ragona, discover the evolution of this project from a book to a micro podcast. This podcast is tailored for sales professionals and support personnel aspiring to launch their own sales representative company. Sid discusses crucial entrepreneurial aspects like required savings, time frames for transition, and building a wisdom team, accompanied by real-life stories from seasoned...

11 months ago

3 minutes