I work with a very simple formula:

Attitude + Skills + Process + Knowledge = Success

Each is equally important, and it would be unwise to remove any of them from the equation, or to devalue their significance, when compared with the others.

Most people when they think about “Knowledge” immediately think about product knowledge.

This is not surprising because even today, research suggests that 80% of training budgets are still spent on “product familiarization”.

But what about all the other kinds of knowledge?

What about industry knowledge, or more specifically, sector knowledge? What about competitive knowledge or commercial business knowledge? Let’s not forget knowledge of our own company/organization.

Finally, there is self-knowledge – that means how well do we know ourselves, our strengths, our limitations, our motivators, etc. The very best sales professionals have an intimate knowledge of themselves, which is why they are able to continually improve.

That is not to suggest that product knowledge is not important – it is extremely important. But a good salesperson realizes that buyers buy solutions and results – they do not buy products or services. You must know the specific aspects of your product or service that will create your client’s desired result.

● Recommended reading:
“The Four Component Parts of Professional Selling – Part Two”

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