What’s Not to Like About Selling?
After almost 40 years in the field I can say without a doubt that selling is the greatest profession of them all. I've talked about a lot of negatives associated with sales. They include challenges like hard work, competition, rejection, change and instability that face salespeople on a daily basis. But on the other hand, there is a tremendous upside to the sales profession that puts it in a class of its own.
Skills are Industry Transferable.
Sales skills are industry transferable. Technology changes and companies come and go, but the fundamentals of selling remain the same. Sure, there are new tactics tools strategies that modify behavior and results of sales activities, but in my opinion, if you can sell widgets, you can sell do-dads. Productive salespeople are always employable.
No Limits
What excites most productive salespeople and motivates them to excellence is the fact that there are no practical limits on their earnings. Sure, some sales jobs are salary based in with bonus, quotas and other rules of compensation, but when the dust settles, salespeople are paid what they're worth. If not, the move on or are terminated. I have yet to hear an owner, manager or an executive ever tell a salesperson to slowdown. Salespeople exist to generate business and revenue and no rationally thinking business executive would ever slow down a productive salesperson.
Freedom
Most salespeople enjoy freedom that is not shared by others in the workforce. Something as simple as being able to drive to the bank or stop for coffee or to plan your day is taken for granted by salespeople. That freedom would be very precious factor to most working people. Arriving at the same office or cubicle or desk or shipping counter and doing the same exact thing every day for 40 years would have not made me happy. I have always valued the freedoms inherent with my outside sales jobs.
New Friends
An attribute of most successful salespeople, is their eagerness and ability to meet and deal with strangers. Over time, and if things go right, those strangers become friends. I once employed, a young salesman, who had never sold before. He asked me what he should do. I told him to go out and meet people. He came back and told me that there is a problem, because many of the new people he met wanted to talk about our products and services. I pointed out that what he was really doing was cold calling for new business. Meeting new friends is a great way to advance your career.
Change and Challenge
One thing about sales careers is that there is always change and challenge to deal with. Change and challenge are two of the reasons why people do not like to sell. But for those that are up for change and challenge, they are motivating factors. Selling isn't for everybody. In fact, most people would never, ever consider it. However, there are some hearty souls who thrive in this environment.
Doing Good
Mark Thelen defined selling as activity based on a fair exchange of value. After the sale is made both sides are better off. To be more specific, professional salespeople are problem solvers. Salespeople offer and deliver solutions to problems and are compensated with money. In my mind problem-solving is a do good activity.
Your Company and Your Colleagues
Another rewarding side effect for successful salespeople is the benefit they share with their company and their colleagues. Revenue generated by sales, keeps the lights on and keeps the company working. So, selling is essential for business and industry to survive and thrive. To a sales professional, that fact alone is a reward far beyond financial.
What's Not to Like?
Other than the obvious world of hard work, competition, severe rejection, constant change, and insecurity, what's not to like about selling?
Tuesday, May 5, 2009
Friday, April 24, 2009
Sales Jobs Are Secure...Part II
When noting the reasons why people don’t like to sell, I mentioned that selling isn’t secure. In reality, salespeople are very secure if they understand and practice their profession. I believe that sales skills are industry transferable. If a salesperson changes companies or industries, they do need to learn their new environment, but they will not have forgotten the principles of selling.
Outside Factors
Things go wrong in business and industry. There are a variety of outside factors that can upset sales careers. In April of 2009, if your job is selling capital equipment to General Motors, you are probably having a tough time making quota. Does that mean that you don’t understand or have forgotten how to sell? Not exactly. How are typewriter ribbon sales these days? Carbon paper salespeople are non-existent. They moved on.
Good Salespeople Adapt to Change.
In the mid-1980’s I sold computer systems to doctors. The first few systems we delivered did not have hard drives. They had a floppy drive for programs and one for data. As time went on, bigger capacity hard drives were introduced to computers for more data storage. These were exciting times. First there was a 5 mega-byte hard drive, then 10, 20, 40 and 80 mega-byte drives. One day we were introduced to the new 190 mega-byte hard drive. It was incredible. The retail price was $9,750 each. We sold them as fast as we could get them in stock and made a bundle. Over the years the prices of computer hardware fell to a point where there wasn’t enough profit in them to even sell hardware anymore. The irony of it all is that I can buy a 4 giga-byte thumb drive at the check out counter at my local drug store for about $20. One day they will be free. What did the evolution of computer hardware pricing have to do with sales skills? Nothing.
Bad Company
When things go wrong salespeople are the first to get flashlights shined into their faces. They get blamed for just about everything. In reality a bad economy, an evolving industry, a weak company or bad leadership can torpedo the progress of the best salespeople. Job security depends as much on the sales environment as on the person.
Who Needs Security?
If you can sell, you are employable. What business can you think of that doesn’t want or need revenue? Revenue occurs when sales are made. Salespeople are indispensable to business.
The Answer
If you are a skilled and hard working salesperson who is underachieving or displaced, step back and evaluate the lay of the land. Are you working for the wrong company in the wrong industry? Healthcare, government and energy are running on all cylinders these days. There are other segments that are thriving. Pick one and go there. Sometimes the problem is not you.
Outside Factors
Things go wrong in business and industry. There are a variety of outside factors that can upset sales careers. In April of 2009, if your job is selling capital equipment to General Motors, you are probably having a tough time making quota. Does that mean that you don’t understand or have forgotten how to sell? Not exactly. How are typewriter ribbon sales these days? Carbon paper salespeople are non-existent. They moved on.
Good Salespeople Adapt to Change.
In the mid-1980’s I sold computer systems to doctors. The first few systems we delivered did not have hard drives. They had a floppy drive for programs and one for data. As time went on, bigger capacity hard drives were introduced to computers for more data storage. These were exciting times. First there was a 5 mega-byte hard drive, then 10, 20, 40 and 80 mega-byte drives. One day we were introduced to the new 190 mega-byte hard drive. It was incredible. The retail price was $9,750 each. We sold them as fast as we could get them in stock and made a bundle. Over the years the prices of computer hardware fell to a point where there wasn’t enough profit in them to even sell hardware anymore. The irony of it all is that I can buy a 4 giga-byte thumb drive at the check out counter at my local drug store for about $20. One day they will be free. What did the evolution of computer hardware pricing have to do with sales skills? Nothing.
Bad Company
When things go wrong salespeople are the first to get flashlights shined into their faces. They get blamed for just about everything. In reality a bad economy, an evolving industry, a weak company or bad leadership can torpedo the progress of the best salespeople. Job security depends as much on the sales environment as on the person.
Who Needs Security?
If you can sell, you are employable. What business can you think of that doesn’t want or need revenue? Revenue occurs when sales are made. Salespeople are indispensable to business.
The Answer
If you are a skilled and hard working salesperson who is underachieving or displaced, step back and evaluate the lay of the land. Are you working for the wrong company in the wrong industry? Healthcare, government and energy are running on all cylinders these days. There are other segments that are thriving. Pick one and go there. Sometimes the problem is not you.
Monday, April 20, 2009
Sales Jobs Are Secure
I watched a television news show that featured a man who lost his job as a salesman and is having problems making ends meet. In the spirit of kind understanding, I still have a tough time comprehending why salespeople are unemployed. I understand that the economy is soft and there are a lot of factors in play, but there is always opportunity for salespeople who can sell. America hasn’t shut down and people are still buying and selling.
Selling During The Good Times
In the 1980’s and early 1990’s I was a partner in a technology company that sold patient and insurance billing systems to physicians. The market was strong. There was a real need and we were the leading provider in the space.
Growing My Company
I followed a simple plan to grow the company. I hired a new salesperson every ninety days. They received a guaranteed salary and expenses for a 90 day period. At the end of 90 days, the guarantee became a draw versus commission pay plan, freeing up the guarantee budget for the next hire’s ramp-up. Salespeople who sold systems at my company made a lot of money under this program. There was no cap on earnings. The sky was the limit. Because of the open ended earnings opportunity, I attracted hard working, ambitious men and women. Our sales force was the best in the business, hands down.
Hands on Sales Management
As a Sales Manager, I stayed very close to my sales team. We were in constant communication. Everyone was a required to attend a weekly sales meeting followed by a short private meeting with me to go over their sales report. The report was a simple pipeline report that gave me the information I needed to evaluate the person’s performance. Of course, the ultimate metric was a sales contract and deposit check.
Ramping–up a Newbie
One of my new sales hires was inexperienced. He had never sold before I hired him. It didn’t bother me because he was well educated, a good communicator and presented well. When I hired him it was understood that he was inexperienced in sales, but was very interested in learning and would give it his best shot. I did not think it was too much of a risk because of his background and the straightforward nature of our products and services.
Extra Attention
New sales hires were required to meet with me every day, in addition to the weekly meetings. I wanted to make sure that the person succeeded and was determined to do whatever it took to make that happen.
Sales is a Hard Job
OK, not everyone is cut out to sell. Remember, selling is hard work, it’s competitive, you mostly get rejected, things are always changing and there isn’t job security for those who don’t perform.
Code Red Alert
It took about eight weeks for me to question if I was getting the kind of effort I needed out of this fellow. He was saying the right things and produced all required reports and information on time. Early in his tenure he reported a handful of doctors who will be placing their orders anytime. That’s was great news. What eventually got my attention, and put me on alert, as the weeks went by, was that these same names continued to show up on reports with no movement. There were no new names. Red flag!
Check the Facts
As the ninety day ramp-up started to wind down, it was clear that if he didn’t close one of the deals on his report he would fail. He didn’t have anything else in his pipeline. I decided to find out the truth for myself. I called each prospect on the list. I introduced myself as the salesman’s supervisor and inquired about their pending purchase. “I there anything I can do to help your purchase decision along?” Very sadly none of them intended to buy a computer system from us, at least not anytime soon.
Tough Love
I had to fire him. It was tough love. He squandered his opportunity either by not working or not working smart. Either way, he had to go. He cried, I cried and then I walked him out. I wasted time and money, but moved on to the next hire and continued to build my sales staff and my company.
Lack of Work
A few weeks later, I opened a letter from our local unemployment office. This fellow had applied for unemployment insurance. The reason was lack of work. Lack of work? That upset me. Salespeople make work. Incredibly, I fought the claim and won.
Sales Jobs Are Secure
The lesson for aspiring salespeople is that you are measured, and will always be measured, by your production. If you sell your products and services and earn money for yourself and your employer you are very, very secure.
Selling During The Good Times
In the 1980’s and early 1990’s I was a partner in a technology company that sold patient and insurance billing systems to physicians. The market was strong. There was a real need and we were the leading provider in the space.
Growing My Company
I followed a simple plan to grow the company. I hired a new salesperson every ninety days. They received a guaranteed salary and expenses for a 90 day period. At the end of 90 days, the guarantee became a draw versus commission pay plan, freeing up the guarantee budget for the next hire’s ramp-up. Salespeople who sold systems at my company made a lot of money under this program. There was no cap on earnings. The sky was the limit. Because of the open ended earnings opportunity, I attracted hard working, ambitious men and women. Our sales force was the best in the business, hands down.
Hands on Sales Management
As a Sales Manager, I stayed very close to my sales team. We were in constant communication. Everyone was a required to attend a weekly sales meeting followed by a short private meeting with me to go over their sales report. The report was a simple pipeline report that gave me the information I needed to evaluate the person’s performance. Of course, the ultimate metric was a sales contract and deposit check.
Ramping–up a Newbie
One of my new sales hires was inexperienced. He had never sold before I hired him. It didn’t bother me because he was well educated, a good communicator and presented well. When I hired him it was understood that he was inexperienced in sales, but was very interested in learning and would give it his best shot. I did not think it was too much of a risk because of his background and the straightforward nature of our products and services.
Extra Attention
New sales hires were required to meet with me every day, in addition to the weekly meetings. I wanted to make sure that the person succeeded and was determined to do whatever it took to make that happen.
Sales is a Hard Job
OK, not everyone is cut out to sell. Remember, selling is hard work, it’s competitive, you mostly get rejected, things are always changing and there isn’t job security for those who don’t perform.
Code Red Alert
It took about eight weeks for me to question if I was getting the kind of effort I needed out of this fellow. He was saying the right things and produced all required reports and information on time. Early in his tenure he reported a handful of doctors who will be placing their orders anytime. That’s was great news. What eventually got my attention, and put me on alert, as the weeks went by, was that these same names continued to show up on reports with no movement. There were no new names. Red flag!
Check the Facts
As the ninety day ramp-up started to wind down, it was clear that if he didn’t close one of the deals on his report he would fail. He didn’t have anything else in his pipeline. I decided to find out the truth for myself. I called each prospect on the list. I introduced myself as the salesman’s supervisor and inquired about their pending purchase. “I there anything I can do to help your purchase decision along?” Very sadly none of them intended to buy a computer system from us, at least not anytime soon.
Tough Love
I had to fire him. It was tough love. He squandered his opportunity either by not working or not working smart. Either way, he had to go. He cried, I cried and then I walked him out. I wasted time and money, but moved on to the next hire and continued to build my sales staff and my company.
Lack of Work
A few weeks later, I opened a letter from our local unemployment office. This fellow had applied for unemployment insurance. The reason was lack of work. Lack of work? That upset me. Salespeople make work. Incredibly, I fought the claim and won.
Sales Jobs Are Secure
The lesson for aspiring salespeople is that you are measured, and will always be measured, by your production. If you sell your products and services and earn money for yourself and your employer you are very, very secure.
Monday, April 13, 2009
Get Help...Get it Now. Don't Wait.
Get Answers. Get Them Now
The answer to slipping sales during tough economic times is to work harder, work smarter and to leverage any and all available strategies, tools and tactics to fight for and land a bigger piece of the smaller pie that is our current economy.
I See it Everyday
I spend a lot of my time working with small and mid-sized Michigan based manufacturers, distributors and allied businesses. They are hurting.
Grim Realities
My clients share similar profiles and find themselves in one or more of the following categories…
“I purchased the business. My industry and my customers are hurting. My business volume is way down. I don’t know how to sell. I don’t know what to do.”
“I have come to realize that my sales staff are account managers and order takers. They are terrific with existing customers but can’t seem to land new clients. Now what?”
“We have better products, services and pricing than our competitors. Why aren’t our customers calling and placing orders? It doesn’t make sense. I hope business gets better soon.”
“I inherited my business and my customers. My industry and my customers are hurting. Sales have disappeared. What can I do?”
“All of my business was generated by manufacturer’s representatives. They have stopped selling. Now what should I do?”
“I built up my customer base years ago. I used to know how to sell but have spent the last decade or two providing service to my existing customer base and have lost my selling edge. I don’t have answers.”
Help is Everywhere
There is hope for any struggling business. Help is everywhere. If you need to turn things around, start by checking in with your Chamber of Commerce. Next, ask around and visit your local business networking groups. In Michigan there are County and State departments that provide free counseling for struggling businesses. Sometimes there is grant money available to help turn things around. Organizations like SPARK in Ann Arbor, Automation Alley in Oakland County, PTAC and TechTown at Wayne State University offer programs, networking and support services dedicated to helping business and industry. Wow! Help is everywhere.
Tools of Change
Next, check out the incredible tools that can help you get your message out to potential new customers, possibly in new industries. SwiftPage or Constant Contact are inexpensive and powerful tools that allow you to create, launch and manage e-mail campaigns. Blogger.com is a free tool to create and publish your message and will establish you as a subject matter expert. Linkedin is a free social network dedicated to business and industry. Microsoft Shared View is a free software tool that empowers you to make presentation on the Internet. Get the picture?
Plan
Creating a plan to take advantage of available help and tools is essential to making positive change happen. You must have a plan. No plan – no go.
Do
Execute. By all means, execute on your plan. Meet people, tell your story, ask for help, ask for referrals, broadcast information, make phone calls, ask for appointments, ask what it will take to do business with you and, by all means, ask for orders. Do it. Do a lot of everything.
Get Ideas…Get Positive and Stay Positive
Finally, buy a magazine, buy a book, buy a CD, attend a sales conference, and get marketing and sales training. Like my upcoming 2009 Success Express seminar and workshop events. There is a wealth of great information that will fill your head with useful, positive and happy information that will get you through your ordeal. Personally, I recommend Tom Hopkins material. He gets it and is interesting and funny. You can find him on Amazon.com
Can’t Do It? No Problem!
If you can’t do it yourself, there are people like myself who are available to help and guide you as you take control of your circumstances and turn things around. We are here to help. Just write or call.
The answer to slipping sales during tough economic times is to work harder, work smarter and to leverage any and all available strategies, tools and tactics to fight for and land a bigger piece of the smaller pie that is our current economy.
I See it Everyday
I spend a lot of my time working with small and mid-sized Michigan based manufacturers, distributors and allied businesses. They are hurting.
Grim Realities
My clients share similar profiles and find themselves in one or more of the following categories…
“I purchased the business. My industry and my customers are hurting. My business volume is way down. I don’t know how to sell. I don’t know what to do.”
“I have come to realize that my sales staff are account managers and order takers. They are terrific with existing customers but can’t seem to land new clients. Now what?”
“We have better products, services and pricing than our competitors. Why aren’t our customers calling and placing orders? It doesn’t make sense. I hope business gets better soon.”
“I inherited my business and my customers. My industry and my customers are hurting. Sales have disappeared. What can I do?”
“All of my business was generated by manufacturer’s representatives. They have stopped selling. Now what should I do?”
“I built up my customer base years ago. I used to know how to sell but have spent the last decade or two providing service to my existing customer base and have lost my selling edge. I don’t have answers.”
Help is Everywhere
There is hope for any struggling business. Help is everywhere. If you need to turn things around, start by checking in with your Chamber of Commerce. Next, ask around and visit your local business networking groups. In Michigan there are County and State departments that provide free counseling for struggling businesses. Sometimes there is grant money available to help turn things around. Organizations like SPARK in Ann Arbor, Automation Alley in Oakland County, PTAC and TechTown at Wayne State University offer programs, networking and support services dedicated to helping business and industry. Wow! Help is everywhere.
Tools of Change
Next, check out the incredible tools that can help you get your message out to potential new customers, possibly in new industries. SwiftPage or Constant Contact are inexpensive and powerful tools that allow you to create, launch and manage e-mail campaigns. Blogger.com is a free tool to create and publish your message and will establish you as a subject matter expert. Linkedin is a free social network dedicated to business and industry. Microsoft Shared View is a free software tool that empowers you to make presentation on the Internet. Get the picture?
Plan
Creating a plan to take advantage of available help and tools is essential to making positive change happen. You must have a plan. No plan – no go.
Do
Execute. By all means, execute on your plan. Meet people, tell your story, ask for help, ask for referrals, broadcast information, make phone calls, ask for appointments, ask what it will take to do business with you and, by all means, ask for orders. Do it. Do a lot of everything.
Get Ideas…Get Positive and Stay Positive
Finally, buy a magazine, buy a book, buy a CD, attend a sales conference, and get marketing and sales training. Like my upcoming 2009 Success Express seminar and workshop events. There is a wealth of great information that will fill your head with useful, positive and happy information that will get you through your ordeal. Personally, I recommend Tom Hopkins material. He gets it and is interesting and funny. You can find him on Amazon.com
Can’t Do It? No Problem!
If you can’t do it yourself, there are people like myself who are available to help and guide you as you take control of your circumstances and turn things around. We are here to help. Just write or call.
Thursday, April 2, 2009
It's All About You...Or Is It?
A Star Was Born
In 1970, after three miserable months in Life Insurance sales and after attending Dale Carnegie sales training, I landed my first career opportunity. My job was selling medical supplies to doctors in their offices. My sales manager, Earl Howie (think Dick Van Dyke), was the best sales manager I have ever had the privilege to work for or work with.
You Don't Know What You Don't Know
My territory was the East Side of the City of Detroit. I was unaware that the territory had never produced for the firm. I was grateful for the chance to work and support my young family. I received a salary for my first 90 days and then was paid with a draw against commission earnings. I also didn’t really understand or appreciate the path I was on. Was I a green bean, a cupcake or just plain naive? I was probably all three.
Real Leadership
Earl was dedicated to my success, his success and in the welfare of the company. During my first 90 days, I had a daily early morning appointment with Earl in his office for 30 – 60 minutes of personal training. He taught me everything I needed to know about the products, our customers and how to sell. His commitment to me went way beyond my expectations. Because of his training, I was able to sit for a test and earned my “Certified Consultancy” from the Health Industries Manufacturers Association.
Me, Me, Me
My commission earnings immediately exceeded my draw and I never looked back. I was a star at my company, with our vendors and in the local medical supply circles. I was the kid that did what others couldn’t do...make money selling in the city. I deserved a lot of the credit. After all, I studied and worked hard. I learned what I needed to do and performed.
Selling is a Team Sport
What I did not totally appreciate was the leadership, support and company infrastructure that was as important to my success as my newly developed skills and execution. My company represented the best product lines in the industry. They kept stock levels high and could fulfil the orders I entered. Our prices were competitive and my colleagues were the most professional group in the business. In other words…a perfect environment in which to succeed.
In Memoriam
There was something else I had never considered as a factor in my success. Many before me attempted to conquer the Detroit territory and had failed. In reality, the failure of those that had preceded me set the stage for me to reach the top. Their failures contributed to my success. The irony is that the last occupant of my desk was really close to making it. He was close. If he would have stuck it out a little longer he very well may have enjoyed what I inherited. He gave up.
The Lesson
Who you work for, who you work with, what you sell and who went before you are as important to your success as you are.
In 1970, after three miserable months in Life Insurance sales and after attending Dale Carnegie sales training, I landed my first career opportunity. My job was selling medical supplies to doctors in their offices. My sales manager, Earl Howie (think Dick Van Dyke), was the best sales manager I have ever had the privilege to work for or work with.
You Don't Know What You Don't Know
My territory was the East Side of the City of Detroit. I was unaware that the territory had never produced for the firm. I was grateful for the chance to work and support my young family. I received a salary for my first 90 days and then was paid with a draw against commission earnings. I also didn’t really understand or appreciate the path I was on. Was I a green bean, a cupcake or just plain naive? I was probably all three.
Real Leadership
Earl was dedicated to my success, his success and in the welfare of the company. During my first 90 days, I had a daily early morning appointment with Earl in his office for 30 – 60 minutes of personal training. He taught me everything I needed to know about the products, our customers and how to sell. His commitment to me went way beyond my expectations. Because of his training, I was able to sit for a test and earned my “Certified Consultancy” from the Health Industries Manufacturers Association.
Me, Me, Me
My commission earnings immediately exceeded my draw and I never looked back. I was a star at my company, with our vendors and in the local medical supply circles. I was the kid that did what others couldn’t do...make money selling in the city. I deserved a lot of the credit. After all, I studied and worked hard. I learned what I needed to do and performed.
Selling is a Team Sport
What I did not totally appreciate was the leadership, support and company infrastructure that was as important to my success as my newly developed skills and execution. My company represented the best product lines in the industry. They kept stock levels high and could fulfil the orders I entered. Our prices were competitive and my colleagues were the most professional group in the business. In other words…a perfect environment in which to succeed.
In Memoriam
There was something else I had never considered as a factor in my success. Many before me attempted to conquer the Detroit territory and had failed. In reality, the failure of those that had preceded me set the stage for me to reach the top. Their failures contributed to my success. The irony is that the last occupant of my desk was really close to making it. He was close. If he would have stuck it out a little longer he very well may have enjoyed what I inherited. He gave up.
The Lesson
Who you work for, who you work with, what you sell and who went before you are as important to your success as you are.
Wednesday, March 25, 2009
Food For Thought
Things are moving quickly in the world of promotion, marketing and sales. I have barely recovered from learning about Google ad words, RSS feeds and Linkedin and now I have to figure out Twitter and Tweets. Technology is spinning fast. Hang on and enjoy the ride.
Is Technology the Answer?
Technology is a big part of the puzzle, but if we hang our hat on and rely exclusively on high tech tools and toys to drive our business we may be disappointed.
Seminar Selling…an Old Friend
I have always liked seminar selling. There is nothing high tech about it. You target some new friends, tune up your message, book a room, send an invitation, follow-up with a phone call and talk to the group at the appointed day and time. If you feed them, your response will be even better.
My Biggest Sale
In the mid-1980’s I hosted a seminar on a snowy Friday at the Holiday Inn in Grand Rapids. At the time I was selling Medical Billing Systems. The turnout was poor. Three attended. One Doctor slept through the entire presentation. I had lots of donuts left when the meeting was over. The results? The two that stayed awake were part of a computer software search team for the Michigan State University Department of Human Medicine. Friends, they purchased a medical billing system for every clinic in their network. Their referral caused the University of Wisconsin to make a similar purchase. These sales were responsible for my best year ever. The irony of the story is that I probably would not have met these people any other way.
My Biggest Save
A few years ago, a good friend of mine asked me to help him sell his Internet services to C-Level Executives at Fortune 500 Companies. I’m not sure if you have every tried to make a sales call on these men and women, but take my word for it, it is very difficult to get them on the phone, let alone book an audience with them. My friend was running out of money while being hard pressed by his board of directors to make a sale. The curtain was falling. My answer was simple. We would make the “C’s” an offer they might accept. I went on the road and hosted luncheons in most major cities at the best restaurants in town. The luncheons were reasonably well attended and because of it I landed a major contract that helped the company secure a million dollars in funding. The travel was grueling, but seminar selling was the answer for my friend and client.
Breakfast at the Coney Island Restaurant
Another good friend of mine sells point of sale (POS) computer systems to specialty retail stores. He is one of the brightest guys I know. He recently hired me to train and coach his sales staff and design programs to uncover opportunities, qualify leads and make sales. Really, who doesn’t want that? Among the problems we faced is that the retailers are hurting in this economy like everyone else. They are also hard to sell because they are busy working long hours at their stores during the day and evenings. A retail store is not an ideal venue for a sales call or a software presentation. I suggested that he host a breakfast seminar to attract prospects and to qualify leads. My idea was accepted. A venue was secured, a hard hitting message was created, and an invitation was mailed to 150 specialty retailers, followed by a phone call. To my delight, 15 retailers attended the breakfast. My friend delivered a terrific presentation and he certainly will sell point-of-sales computer systems to a handful of the attendees. Wow.
Old School Still Works
Seminar selling remains a solid tactic to attract and qualify prospects. Seminars are time tested. They do require careful strategic planning and execution and must deliver value to succeed. I strongly suggest that you consider seminars to build your business.
Tweet!
Is Technology the Answer?
Technology is a big part of the puzzle, but if we hang our hat on and rely exclusively on high tech tools and toys to drive our business we may be disappointed.
Seminar Selling…an Old Friend
I have always liked seminar selling. There is nothing high tech about it. You target some new friends, tune up your message, book a room, send an invitation, follow-up with a phone call and talk to the group at the appointed day and time. If you feed them, your response will be even better.
My Biggest Sale
In the mid-1980’s I hosted a seminar on a snowy Friday at the Holiday Inn in Grand Rapids. At the time I was selling Medical Billing Systems. The turnout was poor. Three attended. One Doctor slept through the entire presentation. I had lots of donuts left when the meeting was over. The results? The two that stayed awake were part of a computer software search team for the Michigan State University Department of Human Medicine. Friends, they purchased a medical billing system for every clinic in their network. Their referral caused the University of Wisconsin to make a similar purchase. These sales were responsible for my best year ever. The irony of the story is that I probably would not have met these people any other way.
My Biggest Save
A few years ago, a good friend of mine asked me to help him sell his Internet services to C-Level Executives at Fortune 500 Companies. I’m not sure if you have every tried to make a sales call on these men and women, but take my word for it, it is very difficult to get them on the phone, let alone book an audience with them. My friend was running out of money while being hard pressed by his board of directors to make a sale. The curtain was falling. My answer was simple. We would make the “C’s” an offer they might accept. I went on the road and hosted luncheons in most major cities at the best restaurants in town. The luncheons were reasonably well attended and because of it I landed a major contract that helped the company secure a million dollars in funding. The travel was grueling, but seminar selling was the answer for my friend and client.
Breakfast at the Coney Island Restaurant
Another good friend of mine sells point of sale (POS) computer systems to specialty retail stores. He is one of the brightest guys I know. He recently hired me to train and coach his sales staff and design programs to uncover opportunities, qualify leads and make sales. Really, who doesn’t want that? Among the problems we faced is that the retailers are hurting in this economy like everyone else. They are also hard to sell because they are busy working long hours at their stores during the day and evenings. A retail store is not an ideal venue for a sales call or a software presentation. I suggested that he host a breakfast seminar to attract prospects and to qualify leads. My idea was accepted. A venue was secured, a hard hitting message was created, and an invitation was mailed to 150 specialty retailers, followed by a phone call. To my delight, 15 retailers attended the breakfast. My friend delivered a terrific presentation and he certainly will sell point-of-sales computer systems to a handful of the attendees. Wow.
Old School Still Works
Seminar selling remains a solid tactic to attract and qualify prospects. Seminars are time tested. They do require careful strategic planning and execution and must deliver value to succeed. I strongly suggest that you consider seminars to build your business.
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Tuesday, March 10, 2009
Qualifying Leads
Qualifying leads is a very important part of the sales process.
The concept is straightforward. Do not spend your valuable time attempting to sell to people who are not qualified to be your customer. Your time should be spent with prospects that you have a fair shot at selling.
Before you can qualify leads as those who meet your requirements, determine what “qualified” means to you. For years, I would not spend time with any prospect unless they clearly had a need, a budget and could make a decision. Without investing too much time you can ask a few questions to your prospect to determine if they are qualified and to what degree they are qualified to do business with you.
Here are some common sense ideas to consider when qualifying prospects.
Need
From your experience, you already know the profile of a good customer. They may really need what you are selling but don’t see the value. The chance you take by spending time with an “unaware of their needs” prospect is that they may never understand and you will have wasted your time. The solution is to invest a few minutes in a great consultative sales call by phone or in person to get them to acknowledge their needs. You accomplish this by asking probing questions and getting them to agree that they need what you have to sell.
Budget
There are business cycles where prospects are not inclined to spend money. Just like prospects that don’t see a need for your product or service; they may not see any value in buying from you. Assuming you are offering something of value that streamlines operations, cuts costs or creates revenue, it is up to you to engage in a consultative conversation to get the prospect thinking right about the value they will enjoy by working with you. Qualifying the budget might be as simple as offering terms or waiting until next month when they will have the money.
Decision Making
Decision making is a formidable roadblock to the sales process. If you spend time working a non-decision maker you are probably wasting your time. The non-decision maker, at best, will tell your story to the decision maker if they are convinced that you have something of value to consider. I don’t want to rely on a non-decision maker to tell my story to their boss. The facts will surely be mixed up or omitted and questions will go unanswered. A good strategy here is to ask your contact who the decision maker is and insist that they participate in your process.
It’s Your Call
Who you chase and under what circumstances you launch your campaigns is your call. I have successfully pursued opportunities that were less than qualified based on a sense or feeling that I could make the sale.
I guess the rule of thumb is that if you’re flush with highly qualified leads you can enforce strict rules. Common sense says that if your sales funnel is empty, you should work less than qualified leads.
More Leads
The best strategy to increase the number of qualified leads in your sales funnel is to prospect for more leads. (Duh!) There are some powerful emerging tools and tactics that will help you to increase your volume of sales opportunities.
More to Come…
The concept is straightforward. Do not spend your valuable time attempting to sell to people who are not qualified to be your customer. Your time should be spent with prospects that you have a fair shot at selling.
Before you can qualify leads as those who meet your requirements, determine what “qualified” means to you. For years, I would not spend time with any prospect unless they clearly had a need, a budget and could make a decision. Without investing too much time you can ask a few questions to your prospect to determine if they are qualified and to what degree they are qualified to do business with you.
Here are some common sense ideas to consider when qualifying prospects.
Need
From your experience, you already know the profile of a good customer. They may really need what you are selling but don’t see the value. The chance you take by spending time with an “unaware of their needs” prospect is that they may never understand and you will have wasted your time. The solution is to invest a few minutes in a great consultative sales call by phone or in person to get them to acknowledge their needs. You accomplish this by asking probing questions and getting them to agree that they need what you have to sell.
Budget
There are business cycles where prospects are not inclined to spend money. Just like prospects that don’t see a need for your product or service; they may not see any value in buying from you. Assuming you are offering something of value that streamlines operations, cuts costs or creates revenue, it is up to you to engage in a consultative conversation to get the prospect thinking right about the value they will enjoy by working with you. Qualifying the budget might be as simple as offering terms or waiting until next month when they will have the money.
Decision Making
Decision making is a formidable roadblock to the sales process. If you spend time working a non-decision maker you are probably wasting your time. The non-decision maker, at best, will tell your story to the decision maker if they are convinced that you have something of value to consider. I don’t want to rely on a non-decision maker to tell my story to their boss. The facts will surely be mixed up or omitted and questions will go unanswered. A good strategy here is to ask your contact who the decision maker is and insist that they participate in your process.
It’s Your Call
Who you chase and under what circumstances you launch your campaigns is your call. I have successfully pursued opportunities that were less than qualified based on a sense or feeling that I could make the sale.
I guess the rule of thumb is that if you’re flush with highly qualified leads you can enforce strict rules. Common sense says that if your sales funnel is empty, you should work less than qualified leads.
More Leads
The best strategy to increase the number of qualified leads in your sales funnel is to prospect for more leads. (Duh!) There are some powerful emerging tools and tactics that will help you to increase your volume of sales opportunities.
More to Come…
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