Archive for July, 2007

Jul 17 2007

Build Business Value - Before Selling A Business

Published by Jonathan Farrington under Sales Skills

The JF Guest Author Spot

 

 

Build Business Value - Before Selling A Business” by Steve Martinez

I normally write about selling strategies, today, is no different. I’m sharing insights on how you can improve your success at selling a business. As you read this, try to take the buyers perspective.
We sold our home a few years ago. Like most home owners, we wanted to maximize the value of the property and increase our Return On Investment (ROI). We took the advice of our Realtor and invested in key areas of the home to make it stand out in the neighborhood. We replaced carpeting, updated appliances, painted the inside and outside and improved the landscaping. Our efforts paid off handsomely. The home sold quickly and we had several excellent offers.

Savvy business owners, who want to sell a business, want to maximize the business value. Business owners must improve the profit value of the business to make it attractive. Most business buyers are looking for businesses with significant potential and rising sales. Many of them are looking for turnkey operations they can operate for a profit. No one wants a business that doesn’t have good operational systems unless, they are looking for bargains. In some cases a business owner must improve several systems of the business to make it much more attractive to potential buyers. It is best to approach these areas well before posting the business for sale.

If we had attempted to sell our home before the improvements were completed, we would never have reached the high selling price we achieved. In outside sales, a salesperson must improve the looks and appeal of the service or the product they are selling. If we can’t improve the value proposition, we won’t be able to convince the buyer that our product or service is worth more than competitors.

Business Systems Will Improve Sales Value:

One of the reasons franchises sell for higher prices is the perception that successful systems are in place. Look at Mc Donald’s or my favorite hamburger place, In-N-Out. The hamburger system runs like clockwork and it is always a treat to savor the taste of a double, double hamburger. When you watch the people at an In-N-Out make the fries or the burgers, you know they have a well honed system. You also know the meal is freshly made to perfection.

If you plan to sell a business, there are key areas of buyer evaluation. Buyers are looking for Financial, Operational, Marketing and Sales systems that work seamlessly. One of the areas I want to point out is how a selling system can add significant buyer value.

If a business has a marketing and sales system that builds and strengthens customer relationships, it improves value. However, this can’t be based on something that could leave after the business is sold. For example, if the business has a salesperson responsible for building and maintaining key accounts, a new owner may perceive this as a liability instead of an asset. If the business has a selling system that is supporting the salesperson, this is definitely an asset to the business. The same is true with the production or operational systems of a business. Instead of listing a key employee who is the only one who knows how to run a complicated piece of equipment, a business seller would be wiser to invest in and promote a simple and efficient production system anyone can operate.

 

Steve Martinez is the author of Sales Impactivator a sales e-publication for success oriented individuals. As the President of Selling Magic, his company teaches business professionals how to automate the selling process, preventing sales people and business owners from experiencing the hard lessons in selling. Steve has consulted with businesses around the country sharing his 25 years of sales and marketing experience to eliminate sales failure. Steve uses his experience as a National Sales Manager and National Account Executive to share the real-world lessons in sales.

When you want to impact sales with advanced selling strategies — signup for Impactivator our sales e-newsletter. Selling Magic teaches businesses and salespeople how to automate and customize CRM programs. http://www.sellingmagic.com

He is also a member of the Top Sales Experts team and you can read his full profile here

 

Today, over on the Turn, one of my favourite leadership experts Leanne Hoagland-Smith is my guest.

Tomorrow, it is the JF July Book Review, and I have a real corker - be sure to join me.

 

 

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Jul 16 2007

Categories Of Buyer Resistance

 

 

As I promised last week, today I want to share with you categories of buyer resistance - just why do potential buyers resist your proposals?

It is not enough to know whether people are for or against you and your ideas and proposals. The people you want to influence can be divided into nine categories.

Those who:

• Covertly disagree
• Openly disagree
• Comply – reluctantly
• Remain undecided
• Have insufficient information
• Are not able to see a need
• Need to think it over
• Consider it the wrong time
• Have to refer the decision to others

You will need a different strategy depending on what stage the person to be influenced is at. Be realistic about your chances – it is unlikely that others will move from open disagreement to active support. The best you may achieve is to move them to neutral. But that’s victory!

Covert Disagreement:

Well, Ok, if that’s what you want.’
Thinks to self: ‘What a load of nonsense – I’m not doing that.’

These people are actively working against you. Gently transform their energy into a willingness to talk openly about their concerns. Once you have done this, you can then:

• Work to build rapport and a positive relationship
• Stress areas of agreement before moving onto areas of disagreement
• Use humour and positive anecdotes
• Meet regularly to develop a working relationship
• Respect their position, promote your own

Open Disagreement:

Hmm – it might be possible, but I doubt it…’

People who disagree need time to come around to your way of thinking.

• Support your statements with proof and evidence
• Use statistics and numbers accurately and appropriately; avoid trickery
• Be clear about areas of agreement and disagreement
• Ask little and get it, rather than a lot and be turned down
• Demonstrate ways in which you understand their viewpoint
• Show that you seek a win-win outcome

Reluctant Compliance:

Well, if that’s what you want, that’s what we’ll have to do.’

Link your point of view to the compliant person’s feelings, values and concerns to move him or her towards actively supporting your ideas.

• Stress connections between your proposal or position and the person’s interests
• Avoid complex arguments
• Focus on simple and vivid points and benefits
• Be prepared to repeat these in many different forms
• Stress mutual benefits
• Point out mutual losses, if your ideas aren’t accepted

Undecided:

I’m just not sure it will work.’

Work to tip the scales in your favour.

• Focus on your side of the issue
• Re-state mutual benefits
• Minimise/solve problem issues
• Support your case with expert evidence
• Cite cases when similar proposals or ideas have been successful
• Break your proposal down into small, more acceptable action items
• Follow up (in writing?) to avoid the person slipping back into indecision

No Information/Insufficient Information:

I need more background information before I can make a decision.’

Find out what information is missing or needed.

• Back it with proof and evidence
• Avoid swamping the other person with too much info
• Invite questions and requests for clarification
• Get the person to agree that the information is sufficient and acceptable
• Make your information lively and attractive

Not Able To See A Need:

I just don’t think we have a need for that right now.’

Acknowledge need is the bedrock of acceptance.

• Conduct more detailed fact-finding
• Get agreement along the way that needs exist
• Ask what may happen if these needs remain unfulfilled
• Illustrate how similar needs have been met for others
• Create a summary of the specific benefits of your suggestion

Need To Think It Over:

Hmm – I must give this some thought. Can you come back next month?

Some people do need time to think things through. Establish aspects of the idea they need to think about:

What exactly is that you want to think over … (Don’t pause here) … is it x, or y, or z?

• Reiterate the main benefits of your proposals
• Clarify any misunderstandings
• Solve any remaining problems or issues
• Make positive use of any delay
• Provide a written summary of your ideas and the benefits

Wrong Time:

It’s a bad time for us to be making decisions like this.’

Assuming this is a genuine and not a delaying tactic, you can use the waiting time to your mutual advantage.

• Ask when would be an appropriate time
• Use the time delay to road test your ideas, organise a dry run, double check your plans

And Finally: Referring The Decision To Others:

I’ll need to have a word with my partner and come back to you.’

You should already have established that the person you are attempting to influence has the authority to say yes.

In which case, ask ‘Are you happy with what I am suggesting?’ If the person is happy, suggest that you both take the issue to the higher authority and work as a team to get final agreement.

 

Today, over at the Turn I am discussing one of my heroes - Steven Covey

Tomorrow, my good friend, Steve Martinez is in the JF Guest Author Slot

 

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Jul 13 2007

What Exactly Is Rapport?

Published by Jonathan Farrington under Networking

 

Rapport is the most important process in influencing others. It is vital if you want to maintain relationships. Without it, you are unlikely to achieve willing agreement to what you want. People who have excellent rapport with others create harmonious relationships based on trust and understanding of mutual needs.

Rapport is the cornerstone of all mutually effective relationships. It needs constant vigilance to keep it alive and effective.

Why Is It So Important?

Rapport is similar to money – when you are short of it, it increases in importance. Without rapport you will reduce your chances of getting:

• Unconditional agreement to your ideas and suggestions
• Full commitment from others
• Business, promotion, friends

The way in which you interact with others has a major bearing on your success as an influencer.

Being in rapport means that you are in agreement with others both verbally and non-verbally.

Ten Good Reasons To Build Rapport:

• To really win friends and influence people
• To connect rapidly with a wide range of people
• To communicate magically
• To build solid, lasting relationships
• To create incredible results
• To help others improve performance and increase success
• To handle conflict
• To get promotion
• To talk your way in to things
• To talk your way out of things

A Recipe For Successful Influence:

Ingredients:

Trust
Openness
Comfort
Acceptance
Empathy
Flexibility
Something in common
Shared understanding

Method:

Mix together as required. Notice changes and be prepared to maintain a flexible approach throughout. Keep communication flowing on all levels.

Self-Disclosure:

Telling others how you feel and what you think and believe, as well as telling them about your background, is a kind currency. Give out information and usually you will receive a lot back in return.

People swarm, flock and group together by type, background, interests, beliefs, gender, work and so on. And one of the most efficient ways to get close to one another is through self-disclosure.

As we begin to experience a powerful common bond, so too does rapport begin. Mutual interests, ideas, values and beliefs are the wrap and weft of social interaction.

Most people like people who are like themselves!

Biographic Matching:

It is rare for two human beings to be together very long before seeking to discover similarities about themselves. This biographic matching can be social or economic, achieved through outlook, education or background – common experiences of the world.

When you match, you reduce resistance by playing down differences while building on similarities.

Pacing:

Once you are matching one another, you can continue to maintain the rhythm you have created by agreeing with one another, seeing from the same point of view. Pacing is a conscious continuation of matching.

When talking, you can pace:

• Words that are used
• Tone of voice
• Language patterns
• Volume
• Body language used

Don’t overdo it – you may be accused of mimicry. Be elegant – your skills should remain unnoticed.

Leading:

One of the goals of matching and pacing others is to be able effortlessly to lead them in another direction. Once you are deeply in sync. With the other people, a change of pace from you will usually result in a similar change in others.

Matching and pacing help you share someone else’s experience and you will begin to know intuitively when it is appropriate to make suggestions, to influence, to lead.

Mismatching:

You can also influence behaviour in others by mismatching. It is useful to mismatch when:

• You want a meeting to come to an end – clear up papers, put a pen away
• You want to conclude a telephone conversation – minimise responses and noises off
• You need time to think before acting – use the bathroom, make a telephone call, add up figures on your calculator
• What you are doing isn’t working – go for a walk, listen to some music, make a phone call
• Matching is affecting your mood negatively – break off the conversation, change the subject

Networking;

Have you noticed how some people seem to be universally likes, trusted and respected? Chances are that they’re also good at networking – developing a wide network of friends, colleagues, allies and useful contacts.

Networking offers you a structured way of making certain that your ideas are effectively exchanged with others.

And Finally: Networking In Action

How can you get to know your team, other managers and clients better? Are there management associations you could join, luncheon clubs, your local Chamber of Commerce?

Organise team events outside working hours. Be seen at functions, offer to assist whenever you can.
Make yourself known – don’t stand on the edge looking in. Be part of the action.

 

Take the

 

Very good friend and fellow Top Sales Expert, Jill Konrath, CEO, Selling to Big Companies has teamed up with Lynn Schleeter, Director for Sales Innovation at the College of St. Catherine, (the largest women’s school in the U.S.) to conduct a survey.

This is a groundbreaking study of women who sell into the corporate environment.

Specifically they are looking at:

Determining the challenges women face selling to the corporate market.

Identifying factors contributing to sales success, and

Finding out if women face any unique challenges when selling.

The survey takes approximately 7-10 minutes to complete and as a bonus for participating you can request an Executive Summary of “Top of Her Game” when it’s completed. Click on the logo to respond.

 

Hey, have a great w/e! Rumour has it that the barometer is going from 14C to 32C this weekend here in Paris - oh yes please, I am dying to cast off my winter garments. :-)  JF

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Jul 12 2007

4 Tips - Defending Price & Selling More In Competitive Markets

The JF Guest Author Spot 

 

Thursday blogit

 

4 Tips - Defending Price & Selling More In Competitive Markets” by Gavin Ingham    
  
 Once upon a time, in a far off land there lived a happy salesperson that had products and services that were new and fresh. He had no competition and he could easily stay ahead of the marketplace. The clients loved his visits because he could educate and entertain them and they were always enthralled by his amazing new solutions to their problems and challenges…

Did this mythical, unicorn of a salesperson ever exist? I doubt it!

I agree that the marketplace is maybe quicker and faster than it ever was but sales is all about competition.

If you have a good idea, someone will nick it!

You are very lucky that you may have had some time in that mythical, fantasy land of being the only magazine in the marketplace but it was never going to last… The aim of the game now is to help your clients to understand that you are bigger, better and more relevant for their needs than your competitors.

Here are some tips to sell more…

1. Stop trying to convince them and start “knowing” that you’re the best.

Sit down and think about all of the services that you have to offer that are better than those of your competitors. Clients don’t like desperate salespeople. You need to “act as if” you are the only company worth dealing with in the marketplace. Do not be arrogant and remember… perception is projection.

2. Remember that your clients probably don’t really think that you are all the same.

But they know by telling you this they put you on the back foot. Most clients think that they have the upper hand and that we are all desperate to do business with them at any cost. Don’t be so eager, take your time and plan your responses to start to redress this balance.

3. Plan and learn objection handles for common objections.

Preparation is key to sales. The only way you will get better is by thinking through situations and asking yourself the question, “How can I deal with that better next time?”

With your specific objection…

“We already advertise in ABC magazine and it is distributed in the same way as yours.”

What about something like…

“That’s fine I’m not asking you to change now, merely have a look at our services to see how they might complement your existing services.”

Or…

“That’s fine, business is built on relationships. At this stage, all I want to do is find out a little more about you and your business and see how we might be able to benefit you in the future.”

Or even…

“That’s great. I’m pleased you realise the importance to your business of advertising in this medium however our distribution is not the same as theirs. I’m not asking you to change now, merely have a look at our services and see how they might complement your business objectives in the future. Tell me, how often do you advertise with…?”

Remember - the objective is to get them talking, find out why they are using the service, discover their objectives, understand how successfully they are meeting those objectives and then offer something better and more relevant to them.

For more on objection handling have a look at my book Objections! Objections! Objections! available on www.amazon.co.uk, ISBN 1-905225-05-9.

4. Perception is everything.

Even if your services are exactly the same as your clients (or indeed are not as good!) it is whether the client thinks they are or aren’t that matters. This means that you can ALWAYS create the perception that your services are more relevant to them.

On your second point, you are right in your strategy. There is no-one more destined for failure than a one-trick-salesman. You need to be approaching both new customers to the service and customers of your clients. As you have rightly pointed out, these two groups of customers will often require different sales strategies.

For the potential clients who don’t advertise at present make sure that you keep the pressure off to start with. They will more than likely have been “sold” to before so when they object that they “have looked before and it’s not for them” objection handle with a gentle reframe…

“That’s fine. I’m not asking you to buy now merely have a look at how our services might complement your existing advertising strategies. Tell me, how do you currently…?”

Then get interested in their current situation, how they advertise, what their objectives are and how you might be able to help them now or in the future.

Let’s face it - until you ask and listen you’re not going to know whether you can help them or not.

Best of luck and remember to sell with passion.

For the last 10 years, Gavin Ingham has been helping sales people to explode their sales performance by turning self-doubt, fear and lack of motivation into self-belief, confidence and action. Visit http://www.gaviningham.net  now to join Gavin’s free monthly newsletter packed full of sales secrets, strategies and tactics.

 

The Wall Street Journal calls my very good friend, Andrea Nierenberg “a networking success story.” She is a master at helping individuals and companies build their businesses by improving relationships. Critical to sales success are well-honed communication skills. Andrea shares her list of eight essential communication skills. She suggests they are common sense but not common practice. Andrea shares what she feels is THE most important communication skill with my buddy Clayton Shold of Salesopedia. You might be surprised at her suggestions on how you can stand out from your competitors. All this in less than ten minutes! You can catch it here

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Jul 11 2007

How To React To Buyer Resistence

 

 

Resistance can be very frustrating. You are anxious to get on with things and it is hard to see why others are stonewalling. This is the moment to back off and take stock.

• Listen carefully to what they are saying to you.
• Watch their body language – does it contain any hidden messages?
• Step into their shoes; try to see things from their point of view.
• Consider what would have to happen for you to be convinced?
• Plan your responses carefully.
• Take time to construct carefully thought through responses.
• Check that you have provided acceptable responses to doubts and fears.
• Seek areas of agreement and stress them, minimise areas of disagreement.

In Summary:

It is not enough to know whether people are for or against you and your ideas and proposals. The people you want to influence can be divided into nine categories and on Monday in the second part of this post ”Categories Of Buyer Resistance“, I identify them.

 

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Jul 10 2007

The End Of Solution Based Selling

Published by Jonathan Farrington under Sales Skills

The JF Guest Author Spot

Tuesday Blog

 

The End Of Solution Based Selling” by Jeff Thull

Solution based selling is a term that has been used since the 90’s and describes a selling approach that was a shift for many organizations. Does this presentation sound familiar? We have the solution to meet your needs. We will tailor our products and services so that they fit your reality precisely. Our price is reasonable and we’ll provide excellent customer service. It’s the move from selling products to selling solutions and it’s what the vast majority of all companies say to their prospects. Perhaps you’ve said it to yours.

If you’re still selling that way, you’re missing the boat - the one that recently crossed over the horizon leading to the 21st century.The way most companies are selling solutions just doesn’t work in today’s business world. Things have gotten so complex that most customers can’t even comprehend what their problems are, let alone distinguish between you and your competitors. And too many salespeople are out there making smoke-and-mirrors claims, simply re-labeling a collection of their products as ’solutions,’ when in reality the customer is not able to connect those solutions to their business. And if they do buy the ’solution,’ 80 percent are dissatisfied with the value results.

Sign-up and we’ll send you a FREE sales newsletter filled with sales strategies, tactics and techniques. You’ll receive an e-book and periodic access to audio recordings, PDF special reports and other specials offers.

Solutions offered by most companies fail to deliver real value for a variety of reasons. Maybe the product or service itself doesn’t deliver on the promise made. Or the customer is unable to properly implement it. Or the customer is able to implement the product or service, but his or her expectations still aren’t met. Not that the reason matters in the end. Unless you can define, address, and connect with value on your customer’s terms, you lose.

The answer is to quit selling your solution as you would sell any other product and start selling like a “business advisor,” a job that requires the diagnostic skills of a doctor. You must help customers unearth and comprehend their most compelling problems. You must help them recognize the pain they’re experiencing in the absence of your solution, anticipate and respond to problems they will face in the future, and help them manage the pain of change they will no doubt go through as they implement your solution. You must help your customers provide greater value to their customers. In short, you become an indispensable source of business advantage.

I call such complex, robust, revenue-building solutions-which fully deliver on the value you promise and often go far above and beyond customer expectations-”prime solutions.”

Creating them requires the complete consideration of the following:

- Value outcomes that the solution will generate

- Decisions that will underlie its purchase

- Challenge of implementation and usage

Clearly, this is not your grandfather’s method of selling!

So how can you move away from solution-based selling and toward becoming a prime solution provider? Here are a few thoughts to get you started:

Commit to moving into Era Three

In Era One, which ranges from 1950 to the mid seventies, salespeople were persuaders. (This is a great product; you need it and here’s why it is the best.)

In Era Two, mid seventies to the mid nineties, salespeople became problem solvers. (Tell me what your problem is and I’ll provide you with a tailored solution.) Although this approach lost its effectiveness a decade ago, many salespeople don’t realize a shift has occurred. They are still developing, marketing, and selling in the style of Era Two.

In Era Three, which began around 1995 and is still in effect today, the salesperson is seen as a source of business advantage. He or she essentially says, “Let me help you diagnose your problem and design, evaluate, and implement a solution that provides a high level of value to your customers and sets you apart from the competition.”

Operating in Era Three is a daunting prospect. It requires taking on the mindset of a physician and advising the customer, and it really is a deeper, more complex process than most salespeople are accustomed to. But if you want to gain and keep a solid foothold in a time when your customers have an endless supply of choices, you must do it.

Shift your thinking about the role of salespeople

You may be starting to suspect that some professionals steeped in a solution-focused approach to selling are ill prepared for the brave new world of Era Three. Sadly, this is sometimes true. Today’s salespeople must function like general managers. They must have a thorough understanding of the customer’s business, but more importantly, the business of their customer’s customers. Salespeople must be able to pinpoint where customers may be losing revenue and failing to take advantage of opportunities. In short, they must be highly intelligent, observant, focused, and collaborative.

Start paying close attention to the abilities, personalities, and attitudes of your sales team. When you hire new people, look for Era Three characteristics. Selling is no longer about psychological games and forceful personalities. After all, the goal of the Prime Solution salesperson is not to get a signed order. His or her goal is a high-quality decision based on an honest, thorough, and rational evaluation of the correlation between the customer’s problem and the seller’s solution. That decision may well indicate your solution is not the best fit. You need salespeople who recognize that is a quality outcome.

Change your position at the table

In the first two eras of selling, the customer sat on one side of the (metaphorical) table and the salesperson sat across from him or her on the other. Today, both parties are on the same side of the table, sleeves rolled up and eyes trained on the customer’s problems and opportunities. If you are a salesperson developing a Prime Solution, you will go through the following four phases:

Discover
Here, you set the stage for a compelling engagement and a continuing relationship based on trust and respect. You push beyond the traditional boundaries of prospecting to create a solid foundation on which to build a long-term, profitable relationship.

Diagnose
You maximize the customer’s objective awareness of her dissatisfaction, whether or not that dissatisfaction supports your company’s offerings. You assist the customer in understanding her situation and, as a result, reinforce your credibility by refusing to alter the customer’s reality to fit your needs.

Design
This is where you help the customer create and understand the solution. It is a collaborative and highly interactive effort to help the customer sort through her expectations and alternatives to arrive at the optimal solution.

Deliver
You begin with the preparation and presentation of a formal proposal, and the customer formally accepts your solution. Next comes the implementation and support of the solution and the measurement and evaluation of results. Finally, the Deliver phase includes the maintenance and growth of the sales team’s relationship with the customer.

Take steps to end cross-functional dysfunction in your company

In a process like the one described above, selling doesn’t happen in a vacuum. It cannot. Every department in your company-from R&D to marketing to customer service-must work together with sales to create real value for your customers. That means ending “cross-functional dysfunction”-the state in which internal politics and the incessant maneuverings for corporate power and resources cause managers to wall off access to their domains and restrict communication.

Since the salesperson puts himself in his customer’s shoes, so must everyone else in the company. If not, the salesperson’s efforts are wasted. You need to take a good, hard, honest look at the inner workings of your company, and, more to the point, your culture. Successful solution development depends on open communication and broad-based inquiries. If you see any evidence that such information flow is being impeded, do what is necessary to open up these channels.

Okay, you may be thinking. I understand that a solution-focused approach may not work for all companies. But it seems to be working fine for mine. If it ain’t broken, why should I fix it . . . especially when fixing it sounds so difficult? To companies with that attitude, a word of warning.

No one can afford to be complacent. No one. The technological and global changes that have taken us from Era Two into Era Three will continue to unfold, probably in new and unforeseen directions. Your products and services can-and will-be copied.

Only by ingraining yourself deeply and inextricably into every aspect of your customers’ day-to-day realties can you escape being replaced on a whim or due to a sudden shift in the market. It’s tough, yes, but it’s a tough marketplace. Shifting to this new paradigm will not only help you live to see tomorrow, but it will foster in you the agility and plain old street smarts to take your business in completely new, highly profitable directions. Realize that and you’ll see that it’s well worth the effort.

Jeff Thull is a leading-edge strategist and valued advisor for executive teams of major companies worldwide. As President and CEO of Prime Resource Group, he has designed and implemented business transformation and professional development programs for companies like Shell Global Solutions, Siemens, 3M, Microsoft, Intel, Citicorp, IBM and Georgia-Pacific, as well as many fast track, start-up companies. For more information contact: Prime Resource Group, support@primeresourcegroup.com This e-mail address is being protected from spam bots, you need JavaScript enabled to view it.

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Jul 09 2007

When Buyer And Seller Act As Partners They Are Building A Bridge To Profitability

 

 

Successful selling is definitely not about the “hit and run” sale. Sales achievers regard their relationships with key customers as a partnership and cultivate it as such. When customers face tough business challenges and complex technological choice, they rely on sales people who can assist them in making the right decisions.

The primary objective of a sales partnership has to be, to create and sustain a mutually productive relationship, which serves the needs of both parties, now and in the future. The key word here is symbiotic. Partnership does not mean eliminating the tension between buyer and seller; it means that top-performing salespeople know how to strike a balance between achieving immediate results and developing the relationship fully.

Why Do We Need A Fresh Approach To Selling?

Many organisations have developed without objective analysis of their purpose and structure. The buying power in many industries is no longer evenly distributed - in a large number of markets a few big firms control the majority of purchases.

The development of new marketing techniques has meant that some tasks traditionally performed by the sales team can be more effectively handled by other methods. The prime objective of all sales staff is to gain business. From an organisational point of view, however, how they all achieve their goals must be defined in order to identify what kind and the quality of skills that are required.

I suspect some of you will have seen the results of the “Best Leadership Blog Of 2007” - but if you haven’t this is how it finished:

Leading Blog - Building Community Leaders by Michael McKinney 615
Leadership Turn by Jonathan Farrington 410
Slow Leadership by Carmine Coyote 35
Extreme Leadership by Steve Farber 26
Dispatches from the New World of Work by Tom Peters 17
Management Craft by Lisa Haneberg 15
Talking Story by Rosa Say 11
Three Star Leadership Blog by Wally Bock 4
Mick’s Leadership Blog by Mick Yates 2

I sent Michael my congratulations and best wishes on Saturday morning: I genuinely believe he was a worthy winner and in fact I voted for him myself!

I do want to thank everyone who voted for me and made it  such an exciting contest right up to the death - when I went to bed at 1am on Saturday morning, I had a lead of 60!! To receive 36% of the votes, when I only started blogging about leadership in mid-April, is pretty amazing. Have made a commitment to do better next year!

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Jul 06 2007

Your Customers Really Are The Lifeblood Of Your Business

Published by Jonathan Farrington under Customer Care

 

 

It is never easy to win new business, which is why we should nurture existing customers and try to minimise problems and inconvenience.

It’s a good idea to:

• Make regular visits or calls – spotting trouble early on can help prevent it
• Reply to calls/queries as soon as possible
• Talk to your customers – find out about them
• Keep them well informed
• Conduct regular reviews of your performance - see your service through their eyes

Ensure that the lifeblood keeps flowing through the veins of your business.

Solving Problems:

Few people are truly difficult. In any case, it is important to make a distinction between difficult people and difficult behaviour, which is often a result of non co-operation on your part.

• Focus on the problem (challenge?) not on them
• Show interest – bring out their likeable side
• Put yourself in their shoes – remember empathy?
• Be personal – use their name if that’s what they would like
• Appeal to their better nature. ‘As a parent of small children you…’
• Cultivate their goodwill

Saying Thank You:

Let your customers know you appreciate them. Find little ways to thank them for their custom, especially when they are not expecting it. This is a great way to attract compliments, especially after sorting out a difficult problem.

• A simple but sincere thank you card – personalised
• Gift vouchers
• Cards at Christmas or other appropriate festivals – Diwali, Hanukah, Eid
• VIP days for special events, launches, dinners
• Social gatherings for key clients

Loyalty cards are very popular now with many organisations. Discounts, bonus points, free samples, all help to make your business stand out.

Compliments & Comments:

Why do we find it difficult to accept compliments?

Is it because:-

• We don’t have enough faith or pride in our product?
• We think it’s probably a back-handed complaint?
• We don’t trust people?
• We don’t know how to react? (How about thank you?!)

Compliments tell us what we are doing right and give a boost to our morale. If we allow it, they bring us pleasure.

Some customers just mutter a comment because that’s how they are. They don’t really want you to take them up on it. (It’s a good idea though to take note of what they say and if appropriate ask, ‘Is everything okay?’)

That’s it, another week gone - in the immortal words: “I’m out of here” - the tension is mounting as the poll closes for “Best Leadership Blog 2007″ at midnight EST (6am Saturday BST)- you know that I am going to ask you for the very last time, have you voted? really? Last chance saloon - your blogger needs your vote here 

Thanks to you all, have a great weekend - JF 

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Jul 05 2007

Dare To Dream By Day

The JF Guest Author Spot:

Guest Author

Dare To Dream By Day” by Tom Richard
Cruising along the highway in his white Taurus, our young salesman finds himself deep in thought. Although he is heading to his next sales presentation, he is not thinking of sales at all. His mind is filled with thoughts of his family.

Flipping down the visor above his head, he looks at the picture he taped there almost two years ago. It is a picture of his dream house – a three-bedroom paradise in a wonderful neighborhood for his family. Looking at the worn picture, he imagines the day this house will be theirs. He can see the excitement on his two daughters’ faces and the smile in his wife’s eyes.

Suddenly, the salesman’s daydream is interrupted as he pulls into the parking lot of his next client. He grabs the padfolio from the passenger’s seat, straightens his tie, and practices his smile in the rearview mirror. Completely relaxed from the morning’s drive, he confidently struts into the familiar lobby, signs the guest log and takes a seat.

From down the hall, he sees his competitor leaving the conference room. He looks somewhat beaten and disheveled. “Good luck,” the competitor says with a cocky, sarcastic tone as he passes.
Our young salesman smiles, “Thanks.” His thoughts are already back to the picture taped to the visor in his car. Thinking of his dream home and the opportunities it will bring his family always bring a smile to his face.

Within moments, the receptionist leads our salesman to the conference room. He is uncharacteristically calm as he shakes hands with each of the five suits seated around the large, mahogany table. Wasting no time, he leans forward, beginning his presentation. His excitement level rises as his enthusiasm and confidence drop from every pore of his body.

Our young superstar glides through the material like a well-choreographed figure skater, clearly outlining what doing business with him and his company would be like. On the opposite end of the table, the chief suit leans back in his leather chair, smiling. He is listening intently to every word our salesman uses.

Then, near the end of the performance, our salesman is interrupted with a single word. “Yes,” says the chief suit. Stopping his verbal melody, our salesman smiles and says, “Thank you, you’ve made a good choice.”

How could this salesman possibly win such a large account with so much ease? Was it his flawless performance? Was it his point-by-point presentation?

No. The truth is that our young salesman belongs to an exclusive club. It is a club made up of those who have a definite purpose in life; those who are not afraid to dream by day. Our salesman’s definite purpose is to make money to provide his family with a better life. His dream is so vividly etched in his mind that it lives in every part of his being and is evident in his life. He knows that a dream is not just a secret wish; it is a lifestyle and a purpose.

When you dare to dream by day, you place your dream face-to-face with the everyday opportunities you have to help you achieve it. You realize that dreams are not meant to hide in the safety of an ephemeral sleep. You give yourself the strength and determination to transform dreaming into doing, and to make your dreams live in the unfolding of your life.

Have the strength to believe in your dreams – completely and continually. As your dreams become internalized and mentally digested, your passion, determination and competence will be unmistakable to everyone you encounter. You will find that every word you speak, every step you take, and every hand you shake will sparkle with the magic of confidence. When you dare to dream by day, you will awake to a world of unlimited possibilities.

Tom

Tom Richard has been called one of the youngest visionaries and avatars alive today. He has dedicated his life to spreading the joy that comes from discovering your true self and enjoying the rewards of operating at your full potential. With the Bolt from the Blue team, Tom represents the powerful generation of personal development and self-discovery.

Visit Tom at http://www.BoltfromBlue.com to bear witness to a new experience.

Big treat over on Leadership Turn today: One of the best known leadership gurus, Brent Filson is my guest author - enjoy!

Tomorrow: “Your Customers Really Are The Lifeblood Of Your Business“- I examine ways to make sure they do not bleed away.

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Jul 04 2007

Ideal Customer Profiling

 

 

Pro-active business development demands that we create an ideal target at the front end – i.e. an Ideal Customer Profile.

The essential characteristics you will need to consider are:

- Industrial Sector
- Geographical Location (Demographics)
- Size of organisations (Turnover, number of employees etc)
- Financial Trends
- Psychographics – i.e. Philosophical compatibility

Many strategic sales professionals merely profile their best existing clients and try to replicate them – there’s nothing wrong with doing this but we should always remember that we are seeking an IDEAL and we can always improve on what we already have.
‘New’ Opportunities From Within ‘Old’ Accounts:

Because it costs approximately ten times as much, to first locate and then sell to a new customer as it does an existing one (although these costs are rarely reflected in the cost of sales), it is essential that we fully develop our existing accounts working upwards, downwards and sideways, thus making the most of the (hopefully) excellent reputation we have developed already.

Most corporate accounts have several divisions, departments, sites, even country offices and you must satisfy yourself that you have exhausted every possible avenue. Don’t be afraid to ask the question “Who else should I be talking to in your organisation”?

Developing New Opportunities:

There are a number of ways in which we can target new opportunities e.g.

• Direct Mail
• Telephone Canvassing
• Researching Archived Files For Customers Who Used To Buy From Your Company
• Exhibitions
• Seminars
• User Groups
• E-Mail Campaigns
• Referrals
• Qualified Leads
• Advertising

Not all of these will be appropriate to your particular industry, but you should not be afraid to experiment – i.e. challenge the paradigm – and do not accept that just because a particular idea has not worked in the past that it will not do so in the future. (Remember when you were learning to walk – it didn’t work first time then!)

The important thing is to make an early decision in terms of what you are going to try and then build this (those) ideas into your master plan.

Tomorrow: My guest author is a very talented guy called Tom Richard - “Dare To Dream By Day” - excellent piece, it really is.

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